Canada warns grocery stores to stabilize prices or face consequences

(MENAFN) The Canadian administration is issuing a stern warning to grocery stores, cautioning them about potential repercussions if they do not take steps to stabilize food prices and offer relief to Canadians by October 9. This move comes in response to the escalating inflation in the country, and coincides with Prime Minister Justin Trudeau's Liberal Party facing a challenging electoral landscape.

During an address at the Liberals' national caucus retreat in London, Ontario, Prime Minister Justin Trudeau stated his anticipation of receiving a response from the largest grocery chains by Thanksgiving regarding their plans to address price stabilization. He emphasized that if their proposed plan fails to provide tangible relief to the middle class and those striving to improve their economic standing, the government is prepared to take further actions, including potential tax measures.

Francois-Philippe Champagne, the Minister of Innovation, Science, and Industry, disclosed in an interview with the CBC that he has extended invitations to the CEOs of major grocery chains, including Loblaw, Sobeys, Metro, Costco, and Walmart, for a meeting in Ottawa on Monday. The aim of this gathering is to devise meaningful strategies to curb price inflation in the grocery sector.

While Premier Trudeau did not specify the nature of the "tax measures" under consideration, he reiterated that there would be consequences if the grocery chains fail to engage constructively in finding a substantial solution to the issue at hand.



Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.