Any proposed food cap at drawing board stage

Any proposed food cap at drawing board stage

Following its Farm to Fork Summit the Government is reported to be considering a voluntary price cap or price freeze scheme by supermarkets on basic foodstuffs.

If introduced the scheme is expected to follow a similar French model and supermarkets would be able to select which items to cap and would only have to participate on a voluntary basis.

Andrew Opie, food and sustainability director at The British Retail Consortium rebuffed the idea saying: “This will not make a jot of difference to prices.” He put the current level of food inflation down to other factors: “High food prices are a direct result of the soaring costs of energy, transport and labour, as well as higher prices paid to food manufacturers and farmers.”

He has called for the Rishi Sunak to address the red tape involved: “As commodity prices drop, many of the costs keeping inflation high are now arising from the muddle of new regulation coming from Government.”

The Government’s proposed plans, first reported by The Daily Telegraph are said to be at a “drawing board stage.”

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