Plans for supermarket price cap on basic food
A retail group says putting “1970s-style price controls” on bread, milk and sugar will make no difference. …
“This will not make a jot of difference to prices. High food prices are a direct result of the soaring cost of energy, transport, and labour, as well as higher prices paid to food manufacturers and farmers,” says Andrew Opie, director of food and sustainability at the BRC.”As commodity prices drop, many of the costs keeping inflation high are now arising from the muddle of new regulation coming from government. Rather than recreating 1970s-style price controls, the government should focus on cutting red tape so that resources can be directed to keeping prices as low as possible.”
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