NDP says coming $1,000 food price hike should shake Trudeau into action on greedflation

Second study shows that corporate greed is at fault for rising prices, not just supply chain issues

NDP Leader Jagmeet Singh released the following statement in response to the 2023 Food Price Report, which predicts food prices will continue to skyrocket to more than $16,200 for a family of four in 2023, and a new study by the Centre for Future Work which shows that profits in the grocery sector and others are up 89 per cent:

“Right now, families are skipping meals to reduce costs, cutting back on what goes in the grocery cart, and stretching every dollar by feeding the kids with less-healthy choices than they’d like. Food banks across the country are seeing a huge increase in first-time visitors.

While Monday’s Food Price Report shows us what is happening, a new study by the Centre for Future Work shows us why it’s happening. Fifteen super-profitable industries — including the grocery sector — are driving inflation in Canada. Combined profits in those fifteen sectors grew by a whopping 89 per cent.

The research proves you’re not just paying for corporations’ higher costs. You’re paying extra for corporate greed on top of that. I believe Ottawa can take on corporate greed to lower prices and help families fill their cart with less stress.

Instead of continuing to protect the profits of big corporations, Prime Minister Justin Trudeau should implement a windfall tax to make these big grocery chains pay what they owe. When I’m prime minister, the revenue from a windfall tax will be used to help with the cost of living for everyday Canadians.

The NDP’s successful call for a study into corporate greed means top executives at Canada’s biggest grocery stores will face questions on Parliament Hill Monday afternoon. I’m going to keep pushing until the CEOs of those corporations come answer questions, too.”