Canada: The Canadian Prime Minister, Mr. Justin Trudeau, said that Canada could impose new taxes on major grocery chains if they didn’t come up with a plan to control rising food prices.
Mr. Trudeau stated that the heads of the five largest supermarket chains, including Walmart and Costco, would take action before Thanksgiving.
As part of measures to address concerns about the cost of living, Mr. Trudeau also announced that sales tax would be waived on the construction of new rental apartments.
The Prime Minister is facing questions about his leadership amid sagging public approval.
“If their plan doesn’t provide real relief for the middle class and people working hard to join it, then we will take further action, and we are not ruling anything out, including tax measures,” Mr. Trudeau said.
The PM expressed confusion over supermarket chains making record profits while many Canadians are struggling financially.
“Large grocery chains are making record profits. Those profits should not be made on the backs of people who are struggling to feed their families,” the leader quoted.
Grocery prices surged by 8.5 percent in July 2023, compared to the previous year, surpassing the overall inflation rate of 3.3 percent.
Canadian retailers noted higher prices are due to increased costs from producers and suppliers, influenced by global factors like the Ukraine war.
“Rather than casting blame where the experts agree it does not belong, the federal government should look in the mirror,” the Retail Council of Canada remarked in a statement.
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