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October 17th, 2022

New Democrats force all political parties to address tackling the corporate greed that hurts Canadians

OTTAWA – Today, an NDP plan to stand up to the corporate greed driving up food prices for Canadians was supported by all political parties. For months, New Democrats have been urging the Liberals and Conservatives to stand up to grocery store CEOs making millions of dollars in bonuses while Canadians struggle to cover their grocery bills. The NDP’s proposal calls for a strategy to tackle corporate greed in the grocery sector, for accountability from rich CEOs and for tougher penalties for price-fixing and stronger competition laws to protect Canadians from price gouging.

“Canadians feel like they’re doing everything right, but they just can’t get ahead,” said Canada’s NDP Leader Jagmeet Singh. “While hardworking families struggle to afford the food they need, the rich CEOs of big grocery stores made massive profits and got millions of dollars in bonuses. Today, the Liberals and Conservatives have finally acknowledged that corporate greed that is hurting people. This is just the beginning. New Democrats will keep fighting to make sure the government holds rich CEOs accountable instead of letting them make millions of dollars off Canadians.”

Today, Loblaws announced that they would freeze prices on their No Name brand products following months of pressure from the NDP. Clearly, the rich CEOs of big grocery stores can reduce food costs for Canadian families.

“After standing by for months, the Liberals and Conservatives finally agreed today that corporate greed is a problem,” said Singh. “The next step has to be working with us to address the high costs of food for hardworking people—the government can take steps to make things better if they really want to do the work. Canadian families shouldn’t be the ones paying the price when times get tough. New Democrats know who we stand with, and we’ll always fight for you and your family.”