Canada Bread has agreed to pay $50 million after admitting to colluding with competitors in Canada’s bakery industry to fix bread prices. “Fixing the price of bread—a food staple of Canadian households—was a serious criminal offence,” said Commissioner of Competition Matthew Boswell in a June 21 release. “Our continuing investigation remains a top priority. We are doing everything in…
Parliament Should Consider Introducing an Excess Profit Tax for Grocers, Committee Suggests
June 14, 2023
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Parliament should consider implementing a new tax on excess profits for grocers, a House of Commons committee is suggesting, despite Canada’s grocery-store CEOs unanimously denying that they’ve profited on inflated food costs over the past year. “Despite the range of inflationary pressures discussed above, some large firms in certain sectors have reported record earnings, leading…
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