House of Representatives committee urges federal government to tackle 'excessive' profits in food sector | Insauga
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A House of Commons committee investigating food prices has recommended the federal government consider policies to address “excessive net profits” in the food industry.
In its report, the committee detailed its investigation into the causes of food inflation and food insecurity in Canada, including prominent testimony from grocery store executives.
The report lists a range of recommendations, from lowering barriers to entry for new businesses into Canada to legal reforms to strengthen competition laws regarding mergers.
The committee also recommended the government consult with states and territories on legislation to make grocery codes of conduct mandatory.
The recommendation comes shortly after Loblaw, the nation's largest grocer, announced it would sign the code after months of urging it to join.
The voluntary code is intended to ensure a level playing field for smaller companies in the industry.
This report by The Canadian Press was first published May 24, 2024.
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