NDP ‘Greedflation’ motion calling for grocery pricing probe gets unanimous support from MPs

An NDP motion calling on the federal government to take steps to tackle “greedflation,” and get to the bottom of the rising cost of groceries, received unanimous support from MPs on Monday. 

The motion called out grocery store giants for making “massive profits in the last year,” while the cost of groceries keeps rising. It also calls on the government to “recognize that corporate greed is a significant driver of inflation, and to take further action to support families during this cost-of-living crisis.” 

While not binding—meaning the federal government is not forced to act, but will have to take note of the House of Commons’ unanimous request—the motion calls on the Liberals to:

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  Force CEOs and big corporations to “pay what they owe” by closing tax loopholes;
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  Launch an “affordable and fair food strategy” to tackle “corporate greed”;
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  Ask the competition bureau to investigate grocery chain profits; and
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  Support a House committee study calling grocery CEOs to testify about “high food prices and the role of ‘greedflation.'”

The vote came on the heels of Loblaw vowing to freeze prices of 1,500 No Name brand products until Jan. 31, 2023, citing the increased cost of Canadians’ groceries which Loblaw chairman and president Galen G. Weston said was largely out of the grocery giant’s control.

On Monday, New Democrats, including NDP Leader Jagmeet Singh, took credit for Loblaw’s move, suggesting the timing of the announcement was no coincidence given today’s parliamentary vote.

“Because of public pressure and our pressure to force grocery stores to start responding to the needs of people, we’ve seen a positive sign, Loblaws has now announced they’re going to freeze the prices of their name line of products. Now, while that’s something that is a positive step, we’re concerned that they’re freezing the higher prices, the inflated prices, and that they could have acted a lot sooner,” Singh told reporters on Monday.

More to come…