Ag committee to grill grocery executives about high grocery prices

  • National Newswatch

NDP call for hearing wins support of other parties. Ottawa—The Commons agriculture committee has approved a motion from NDP MP Alistair MacGregor to have the heads of the major grocery store chains answer questions about increasing food prices. MacGregor's motion to summon the CEOs of Loblaw, Metro and Empire before the committee was supported by the other parties. It was not known when they might meet the MPs. The committee has been studying food price inflation during the last couple of years among other topics. “Canadians are cutting back on their usual grocery lists and stretching their paychecks even further to get less for their families,” said MacGregor, the party's agriculture and food price inflation critic said. “But all the while, these grocery CEOs are making more money than they ever have before. It just doesn't add up.” The CEOs declined an earlier request to appear before the committee. “We're now compelling them to testify, so we can get real answers for you on why your bills are going up,” MacGregor said. “When Loblaw froze the prices on all No-Name products, Canadians saw firsthand that these companies do control the markup on food prices. Now they've lifted the freeze, and our families are bracing for the steep increase. “The Liberals have refused to hold these grocery giants to account. The Liberals could introduce a tax on excess profits – taking away the incentive to gouge you. And the Conservatives only want to make it so that grocery corporations pay even less tax on their huge profits.” As part of hearing from the CEOs, the agriculture committee also agreed to add additional meetings to the food price inflation study. MacGregor said he wants the CEOs to explain why grocery bills are going up. Statistics Canada has reported that retail food prices rose nearly 10 per cent in 2022, the fastest pace since 1981. “Canadians are cutting back on their usual grocery lists and stretching their paycheques even further to get less for their families," MacGregor said. “But all the while, these grocery CEOs are making more money than they ever have before. It just doesn't add up.”