‘Greedflation’ motion from NDP gets all party support


An NDP motion calling on the federal authorities to take steps to sort out “greedflation,” and unravel the rising price of groceries, acquired unanimous support from MPs on Monday. 

The motion known as out grocery retailer giants for making “large earnings within the final 12 months,” whereas the price of groceries retains rising. It additionally calls on the federal government to “acknowledge that company greed is a big driver of inflation, and to take additional motion to support households throughout this cost-of-living disaster.” 

While not binding—which means the federal authorities just isn’t pressured to behave, however should pay attention to the House of Commons’ unanimous request—the motion calls on the Liberals to:

  • Force CEOs and large firms to “pay what they owe” by closing tax loopholes;

  • Launch an “inexpensive and truthful meals technique” to sort out “company greed”;

  • Ask the competitors bureau to analyze grocery chain earnings; and

  • Support a House committee research calling grocery CEOs to testify about “excessive meals costs and the function of ‘greedflation.'”

The vote got here on the heels of Loblaw vowing to freeze costs of 1,500 No Name model merchandise till Jan. 31, 2023, citing the elevated price of Canadians’ groceries which Loblaw chairman and president Galen G. Weston mentioned was largely out of the grocery big’s management.

On Monday, New Democrats, together with NDP Leader Jagmeet Singh, took credit score for Loblaw’s transfer, suggesting the timing of the announcement was no coincidence given at this time’s parliamentary vote.

“Because of public stress and our stress to pressure grocery shops to start out responding to the wants of individuals, we have seen a optimistic sign, Loblaws has now introduced they will freeze the costs of their title line of merchandise. Now, whereas that is one thing that could be a optimistic step, we’re involved that they are freezing the upper costs, the inflated costs, and that they might have acted so much sooner,” Singh advised reporters on Monday.

More to come back…


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