Reeves Moves to Force Food Price Caps on Supermarkets
Rachel Reeves is negotiating to impose price caps on supermarkets in the UK. The Treasury is urging major supermarkets to voluntarily limit prices on essential items. In return, Labour is offering regulatory incentives to ease packaging rules and delay healthy food regulations.
- ▪Rachel Reeves is attempting to impose price caps on supermarkets during negotiations.
- ▪The Treasury is pressuring supermarkets to voluntarily cap prices on essentials.
- ▪Supermarkets are reacting negatively, comparing the move to a 70s-style gimmick.
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Rachel Reeves is trying to impose price caps on supermarkets in backroom negotiations, according to the FT. UKSSR… The Treasury is pressuring major supermarkets to voluntarily cap prices on essentials. Rachel Reeves is said to be hoping to announce the policy alongside a cost-of-living package on Thursday. In exchange Labour is offering regulatory “incentives” including easing packaging rules and delaying healthy food regulations… Supermarkets are obviously furious and describing it as a knee-jerk reaction to the SNP’s similar scheme, which has been roundly dismissed as a 70s-style gimmick. Reeves has also also demanded guarantees that farmers wouldn’t lose income from the caps. Has everyone at the Treasury with an economics degree been locked in the cellar?
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