NDP's Singh promises an ‘emergency price cap' on grocery essentials [BNN Bloomberg (Canada)]
Costco Wholesale Corporation (COST)
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Source: BNN Bloomberg
Speaking at the Parkdale Food Centre in the Ottawa neighbourhood of Hintonburg, Singh announced that if the NDP were to form government, the party would introduce an “emergency price cap” on basic food items. Among the products the NDP would seek to cap the prices of are pasta, frozen vegetables and infant formula. Singh is framing this as his way to “tariff-proof” Canadian food. The NDP has also committed to: Enforce a mandatory “Grocery Code of Conduct” in an effort to regulate pricing practices and prevent wage cuts; Provide the Competition Bureau powers to act as “a grocery price watchdog” to get tougher on price fixing; Tax the windfall profits of major grocery retailers such as Loblaws, Walmart and Costco; and Reform the federal Nutrition North program, “so the subsidy goes directly to northerners—not to corporate chains.” Singh is spending the morning in the nation's capital, but will then be wheels-up to the West Coast this afternoon. This is a developing st
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