NDP calling for investigation on grocery store profits as inflation rises

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OTTAWA – NDP Agriculture and Agri-food Critic Alistair MacGregor is proposing that a Parliamentary committee investigates how corporate greed is driving inflation. Corporate grocery chain profits hit $3.5 billion while nearly a quarter of Canadians report going hungry, according to NDP.
MacGregor wants an investigation into how this unchecked corporate greed continues to drive prices higher and hurts Canadian families.

“Families have been doing everything right but they feel like they just can’t get ahead,” said MacGregor. “The price of food is sky-high and the wealthy CEOs of huge grocery chains are seeing record profits and millions of dollars in bonuses. Corporate profits are rising twice as fast as inflation, while wages are only rising half as fast. People can’t make ends meet and the Liberals and Conservatives are letting Canadian families fall further behind – it doesn’t have to be this way. New Democrats want answers and accountability for you and your family— and for the grocery store workers whose wages haven’t increased even though profits and CEO bonuses have.”

The CEO of Sobeys made more than $8 million last year – 15 per cent more than the year before. But instead of giving his employees a raise or lowering the price of your grocery bills – he took away their hero pay, NDP said.
“This behavior from big grocers is all too common, but Justin Trudeau and the Liberals would rather help rich CEOs instead hardworking Canadians. While New Democrats have been calling for the government to put in a windfall tax to ensure rich CEOs are paying what they owe, both the Liberals and Conservatives have refused.

“The Liberals have moved mountains to support big corporations and their CEOs “ make their money off the backs of hardworking Canadians. And the Conservatives aren’t interested in tackling the corporate greed that drives prices up for you and your family,” said MacGregor. “New Democrats know that Canadian families are not driving inflation – yet they are the ones paying for it. That is why we are proposing that the committee looks into profit-driven inflation in the grocery sector. We know that while inflation and CEO profits skyrocket – wages should not remain the same. We will keep fighting to make sure rich CEOs pay what they owe and that workers and families have the respect they deserve.”