Politics latest: Former Asda boss slams ‘idiotic, unworkable’ reports of supermarket price caps
A former Asda boss criticized proposed government price caps on groceries as 'idiotic' and 'unworkable'. Lord Stuart Rose warned that such measures would likely backfire and represent state control. Meanwhile, the Treasury minister denied any plans to impose price caps, stating the government is exploring other ways to assist households amid rising costs.
- ▪Lord Stuart Rose described the idea of capping grocery prices as nonsense.
- ▪The Treasury is not looking to impose price caps on essential items.
- ▪New data shows the Consumer Prices Index inflation rate has fallen to 2.8 percent.
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