Canada should consider excess profit tax to combat grocery prices, researcher says
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- Опубликовано: 4 фев 2025
- Economist and policy researcher DT Cochrane says the federal government should consider bringing in an 'excess profit tax' on major grocery corporations' pandemic profits. He says many corporations have been able to substantially boost profit margins by hiking prices.
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This is what happens when governments allow only a few companies to run the show.. a few telecommunications companies, a few banks, a few grocery stores, a few a few a few, no room for competition and keeping prices sky high for us to eat it.
We are not free in Canada , i dont know why the masses believe the illusion. We are ran by monopolies and being forces to submit. But hey, we the people keep giving them more power and we become more submitted to the monopolies.
Modern day slavery
Why would the Federal Government give corporation money during covid, while shutting down small businesses?
Who's John Galt?
Canada is an oligarchy not a democracy
Has been for a very long time
Before Christmas Loblaws froze prices on No-Name products. What they didn't say was that they jacked up those prices across the board by 25% before the freeze!! I keep track of those prices on all their No-Name products weekly!
A bag of lemons during the freeze in December was $4.99, today that same bag was for $8.99.... i was sooo shocked
More like 200% No name Potato chips went from $1 to 2.99 each
Exactly they are in buisness not for us but for theyre family's
They do it every year before Christmas. Was not even anything new. And yes before they freeze it the prices went up.
Liberal Carbon Taxes, millions of immigrants and $600 billion in wasted spending are what has gotten us here
On top of that, we can see the “shrinklation” where the product has been reduced on size or content, but price has been increased!
Makes me so mad to constantly see this every time I go to buy groceries! 😡
Thank a liberal
@@lynnepaquette4124 I totally agree. Shrinkflation just pisses me off that much more, I would honestly rather just see the price increase overall, then to have a smaller package with a smaller increase in price.
A Parliamentary committee should have been set up more than six months ago to arrive at recommendations for: a) fixing supply chain issues, b) prohibition of outsourcing labor to potentially hostile countries or countries that do not share common values, and c) impose a greed tax on companies that exaggerate their margins and offshore labor costs.
I am listening their testimonies right now. They are full of crap. Lablaws is worst of all. Freezing jacked up NN prices, what a joke. The committee is just waist of time. The show how government is doing something for us. Nothing is going to change. Why do we have the highest cell. phones package prices in the world? The same will go for groceries. G7 county and people are going hungry. For the first time in long time people are moving out of Canada. Shameful all around.
Or get rid of the carbon tax & we will be able to afford groceries, gas & housing again.....yes it's that simple! The carbon tax is a scam & will do NOTHING for climate change, haven't you noticed that yet?
Basically, end 40 years of Mulroney's Reagehnomics, and go back to restricting corporate rights and taxing profits and wealth.
About bloody time.
How is giving more money to the government going to discourage grocers from making money?
@@Trythis837you have a better idea? When the government collects more taxes, the odds of it using the additional revenue stream for the people is surely much higher than doing nothing 😂
@@ubcphysicsyangbo Its ok, tax the morons that thought 0.13% mortality was worth destroying their economy over !
We are in this together!
@@schleppyzee2931 omg, I wish we could do that. I'd have a permanent smug face.
I like the idea of taxing these companies for their excess profits
Lmao 🤣 whats the definition of excess and profits.?
Bruh, they make 53 cents on every $14 bucks you spend. The taxpayer has to fork out $800 bucks a year for every CBC fanbot as only 5% of Canadian enjoy propaganda and the rest of us forced to pay $1point 2 freaking billion. Give your head a shake calm'ie.
It will denture other companies from entering Canada, less competition. You want that?
You like the idea, but you'll hate it if it happens. The taxes will be passed on to you plus loopholes will be in place, so they can write off even more expenses.
@@franklinfleming1237 anything above 2% net.
This is nothing but greed by CEO and stock holders.
Lol Exactly hence y no one stopped covid cuz it made them all rich...doctors, lawyers, pharmacy, education etc
That's what happens when everything gets corporatized.
@@bmw803 go compare prices from a mom and pop grocery store vs a corporations store. 10/10 times the Corp store will
Be significantly cheaper
@@helloitsme4139 it will be cheaper for sure at the Corp.
@@helloitsme4139
Because corporations can afford to buy in bulk and have the floor space to accommodate hundreds of customers at a time.
High prices, pack your own, be your own cashier, carry it out yourself. And be grateful they say. Loboutlaws!
"Corporations jacking up prices to keep profits up with inflation."
Bank of Canada and Canadian government: eh, that's life
"Workers demanding higher wages to keep up with inflation."
Bank of Canada: Woah there, that will make inflation spiral out of control!
Canadian government: Quick, bring in millions of temporary workers!
It's worse than you think too, low unemployment is seen as a negative, the role of the bank of canada (much like the fed in the US) is to push interest rates up when unemployment is low to intentionally create recession-like or outright recession conditions.
@DB Muir worse yet, because those wages are barely enough to make rent with a half dozen people under one roof, the money doesn't circulate to the community.
Show me where workers wages went up
They bring in temporary foreign workers because they can be used as slaves...no one would want to work in the conditions that these workers are forced to work...in agriculture they an be forced work an 80hr work week in the intense heat of the sun or the greenhouse.
In my neighbourhood there is a house that a family used to live in. Now there are 8 guys who live there. The front yard is full of parked cars.....
You can smell the BS when they talk about supplier cost. They increased their PROFITS, not their prices.
I have started shopping local for fruits and veggies in particular. The cost is the same but at least the local guys have better products, and i know where my money is going. I no longer shop at loblaws, just on principle. They are all pushing prices up but loblaws is the worst of them. We can talk about the problem for ever, this will not feed the children of single moms being financially buried by their rent, nor will it help the elderly on fixed incomes. I say tax them huge. if they increase their prices, tax them even more. it:s time they took a pay cut. Everyone else is...
If you tax any business to the point where it's no longer feasible to run it, they'll shut it down and then where will you get your groceries? You can't replace this oligarchy overnight. Why not encourage small grocers by giving them tax abatements if the business doesn't get "corporatized"? I'm old enough to remember small local grocery stores.
@@bmw803 How much did loboutlaws pay you to say that, stooge.
Loblaws best quarter ever, make $3.30/wkly shopper. If 1 in 4 Canadians shopped at a loblaws owned store. How much lower do you think they can go? Still have to invest in the company, pay workers wages, give raises to cashiers. What more do you want from them?
The prices in Superstore have skyrocketed over the past year, which is unacceptable. If they have any conscience they should lower the price.
How can they lower the price when it's costing more to produce, distribute and supply?
We really need to know whether or not their margins have changed in the last couple of years. If their they haven't then they are simply passing on the economy wide inflation that we are experiencing. The story didn't say. It compared to 2013 for some reason.
conscience? They never had and never will have
Greed will always exist and as long as it does people will not stabilize anything endless it benefits them
@@shauncameron8390 They gain 11.7% in the past year, meaning they have margin to lower the prices.
It's just rich people trying to dissolve the middle class
It's the government trying to dissolve the middle class. Companies like customers to buy things regardless of who they are. The government wants everyone to be poor, they dont like the middle class.
@@KO-dz2zj the government is owned by rich people....
@@savagepaul-
Not really. The government is the rich.
@shauncameron8390 The government are just pawns the rich people use, they're poor in comparison. Soooo uhh yes really.
Any extra tax would be passed down to the consumer.
LIES.
that's literally impossible to do with a tax on excess profits
Oh you increased prices in order to make more money?
congratulations you just put MORE money into government pockets without increasing your own profits by very much (actually you probably decreased your profits via reducing the amount of demand for your product by raising prices)
@@TheAircool1 loool haha "impossible" right. Nothing is impossible, you just wish it wouldn't be possible.
They will remove all taxes from Canada, they will make home base a cheap third world country, and pay 1% to that poor country.
And make the canada business fronts pay home base as credit debt, and poof add money to everything anyways, and make more money, all because jagmeat and Trudeau want to virtue signal.
They dont care about you.. they know what will happen, but you eat it up.
You really live in a fools paradise.
Considering the Weston family has already been involved in price fixing in the bread industry, Yes.
@@pw3858 they ratted out the others to avoid conviction. Then likely bought them at a reduced price.
implement rent control for landlords while you're at it
Rent control for every building pre-2010 that includes decreasing current list prices in addition to limiting all future rent increases to 2.5% annually
Boo hoo. You need the government to control everything for you.
And in the process bar new renters from renting and be left to deal with housing shortages no one will want to build anything.
@@shadowbanned636 Better idea, let's not.
Oh ya, that worked real well in Toronto after Wynne put more rent controls on. Then all the builders moved on and started building condos over rent purpose buildings. Aka, rents in Toronto are going to remain high for decades.
I will never forget about this
I will never forget about loblaw price fixing whole grain bread prices in the 90's
It is not just Loblaws... it is all of them... Don't even get me started on rental car prices!
Usually when the government tries to do something on the regulatory side it gets passed back to the customer. Same as phone service, we need more open competition
Investigate, forensically audit their books. If prices are being manipulated, that is theft. Theft over 5000 carries a sentence up to 10 years in prison. Do not fine the executives, money means nothing to them. Jail them.
What about Pfiser that tax dollars were used for R and D, the vax cost $3 bucks a shot and now Pfizer is putting the price to $120 and Justin's their top salespeoplekind as he's making a cut.
Nope, lets go after a grocer that makes 53 cents on every $14 bucks you spend.
@@annalee5751 Right, deflection. Lets talk about Pfizer, see other giant corporations are evil too, so Loblaws is just doing what everyone else is doing.
Investigate and jail.
Jail them without parole. The problem is that those same people lobby politicians. They aren't doing charity. Governments are the problem. They're not doing what they're supposed to do. They're the ones that allowed this oligarchy. Taxing those companies will not work, because they'll have loopholes created to get that money back. This is optics for the financially illiterate.
It's a free market. It's not theft.
They're friends of Justin...Justin's friends don't go to jail
Despite "freezing' their no name brand products pricesfor 3 months, their profits jumped 12%.
Loblaws best quarter ever on record. Was just over 500 million. If 1 in 4 Canadians shopped Thier, they made $3.30/wkly shopping trip. That’s not very much money.
I hear so many immigrants saying they regret moving to Canada! The cost of living is unexplainable here!
Inflation might be cooling, but the greed of those big greedy corporate chains is definitely growing.
God i hate corporations and the governments/people who enable them. This world is so screwed.
This guy is so wrong at so many levels...
1. Retailers don't take money from anybody because buying is a voluntary act, only Governments and Mafias take money from people since they do it by using force.
2. Retailers charge the maximum that people are willing to pay (the same way we get the higher wage our employers are willing to pay us), all businesses do that and that's ok as long as it's not forced, if Canada wasn't the protectionist and over regulated society, there would be more retailers from abroad competing and maybe those here wouldn't have the power to charge as much as they do.
3. Inflation is caused by Government money printing and overspending...100%, after having more money chasing the same (or less) goods and services it's logical that prices will go up. The only thing government may do is fixing prices, which will create scarcity (as always has happened on every society that has done it) because prices are the result of real time demand/offer interactions and not what somebody decides.
4. Governments always deflect their responsibility by blaming others (socialists usually blames the private sector), and then they use their power through this Gov funded broadcasters and paid "economists" to make people think others are to blame.
5. Finally, we are all to blame....remember 2 years ago, when Gov stopped economy and started giving free money so we don't need to go to work? Now it's payback...with INTERESTS...still Canadians continue voting for these kind of politicians(and policies)...so let's embrace for more pain...we deserve it.
No thanks, that doesn’t lower prices at all. It only gives the money to the government who will then give what they feel like to lower income families. So middle class Canadians end up paying an invisible tax they can’t afford.
$12 plus tax for peanut butter at Food Basics forget about the bread. When you see the people that society values the least burning and looting the city one of these days
Talk about toilet paper, at some stores you find close to $30 for what used to be much more less than that not long ago.
Some countries have laws preventing grocers from throwing out expired food. These grocers have to discount the food tremendously as it nears its expiry date to ensure it is sold. Else it goes to foodbanks prior to expiry.
This would be preferable to $7 for milk, or fresh vegetables and meat so overpriced it is comical to even put them on display.
That's doesn't make economic sense to them.
The waste is breaking my heart while kids in other parts of the world starve.
You should see the amount of milk that farmers are forced to pour down the drain , it would make you cry. There is a video from a farmer about it here on RUclips.
@shari What goes around comes around. Most western countries will pay dearly for this. That's why the entire western structure is falling apart.
@@bmw803
Those kids need to take that up with their own governments.
When do we start eating the rich?
Define rich. Because in Mao-era China, an ordinary shopkeeper was considered rich.
Always the top percent are the rich.
Marinated & sautéed in a rich burgundy sauce.
@@shauncameron8390 France chopped their heads off. Russia just shot them.
I wonder when the mass looting of grocery stores will start?
Humans > profits of a non-living entity
We don’t need mass looting of grocery stores, we have to replace our government, as long as this government is in power, things are not going to improve. The problem is that we don’t know if another government is going to be able to do any better
And what is that exactly going to accomplish especially when there will be nothing left to mass-loot?
This is already starting in US and on the way in Canada, as social cohesion continues to break down.
A bottle of olive oil I bought at Walmart for the longest time was allways 10 bucks the next time I did groceries and I do groceries every 2 weeks the price was 15 dollars so a 50 percent increase in 2 weeks lol
Has anyone else noticed that the only way the government seems to be able to fix anything is to add taxes. How will adding tax help people buying groceries?
Only smart tax I've ever heard proposed. Literally can't be passed onto consumers.
Really? How about these.
Reducing staff
More automation
Reducing dividends ( that seniors depend on)
Raise price and shrink sizes
@@bmw803 That's happening anyways
Brazil forces companies to put the amount of increase over the last six months. This label has to be incorporated into the existing label and stay on the label for six months after the increase.
Sounds like a great idea.
The main issue in Canada is there is not enough competition in food business. American grocers must be allowed to do business in Canada. Politicians are not bothered since they are rich enough to buy expensive food.
American food businesses are driven by more greed they cut corners at the expense of consumers. If we do allow them there must be a scrutinity in their business practices.
@@orbiteflow8909
And Canadian food businesses are not?
@@shauncameron8390 Google it yourself. American food business practices and Canadian food business practices are very different certainly the regulation around it. I would know a thing or two because I have worked in both side of the borders.
Reducing income tax would do the most good to help Canadian families.
Allow international groups into the market in order to generate competition right across the board. The prices in Canada are totally absurd. If you cannot do business without massive government support, protection, free loans, subsidies, tax breaks, monopoly collusion, then get out.
I know, but the main issue is not enough competition. I've noticed this though my entire life in Canada. When it is about business, it's very much run like a monopoly, and businesses are given so much slack when it comes to corruption. I always thought that just the prices we pay have such high taxes on the rich, or they would pack up and do business elsewhere.
Bring Albert Heijn from Netherlands.
Superstore. Less cashiers, money spent on fancy fixtures, security bars, self check outs and a freaking Starbucks right next to the pharmacy.....
nothing is gonna come from the meeting of the CEOs and govt. no faith whatsoever in any kind of ethics in government any more let alone CEOs of corps that make billions apparently. Zero faith
Nothing will happen cuz the elite benefit from the greed
The whole point of capitalism is do destroy any competition & be the last one standing. One grocery chain, one bank, one airline...
While in socialism, all competition is outlawed and the government is the only competitor allowed to exist.
New World Order....covid has put things together as the elite desired....local companies have been destroyed in the last 3 years and so everyone is left with major corporations that offer a one stop shop, everything will be increasing for this reason...maybe ppl should have thought about this when they were locked down and businesses were destroyed instead of complaining now
Or fixing price together to reach Nash equipment. Oligopoly
Is it true they throw food out rather then donating it because it is a write off???? If so that is so wrong 😑 😮
Even worse, whatever you donate they use that as a tax write off on your behalf
@604h22a they got massive loopholes, they might tax them to show ignorant public that they're tuff, but they'll create massive loopholes thru the IRS code.
They have to throw food because they can't donate expired product knowing it should be consumed. Corporations need to purchase food separately that they wish to donate... Or get you to put good product you bought into the donation bin.
They do throw away specially those fast food restaurants like McDonald's
You would be shocked at the amounts they toss out daily.
Canadians should just force Trudeau to resign!! That's how we save Canada
Yeah, right. Impose a tax on them, and they'll just pass that down to us as yet higher prices. PLEASE do not make things worse!
My grocery cost went up $150 in the last 2 months, buying the same thing! The same bag of frozen peas, from $2 to $2.49? So are we all go to food bank because this is getting ridiculous.😢😢😢😢
Nooooo, not a pharmacare program, not a dental care program! Those costs are going to get passed directly on to me by way of a tax bill and because I middle class, I won't get to use them!
@1:14 - "...meanwhile, as the CEO of Loblaw, I will continue to earn my $5.4 million per year."
I never understood shareholders accepting to pay such wages to a CEO.
Nobody earns that much money! Anything above a certain level should be taxed at 100%.
@@vmitchinson
No it shouldn't.
Competition is the only solution to break monopoly. Bring in 10 more grocery companies and see how food prices come down.
It would be better to break them up. I think it is called the combines act.
Found the Reagan/Mulroney capitalist drone.
Yes, tax the supermarkets more tax. Who do you think they are going to pass the tax hike to. Give your head a shake.
Poor rich Loblaws owners don't have enough millions in pockets, they need to rip off public who can hardly afford to buy food any more. Disgusting!!!
Absolutely!
My monthly grocery bill went up by 30%.
Having to move during pandemic hot housing, my rent doubled.
Seems every time I go to no frills, the prices are higher.
The main reason prices are high because of the carbon taxes among other reasons like greed. Carbon taxes would affect the delivery costs for example, which are then passed on to the consumer. I'm surprised the economist didn't mention a singe thing about carbon taxes causing things to be more expensive as a main reason.
Canada should stop the ineffective carbon tax which is causing a large part of the inflation. When Diesel fuel is almost $2 a litre, the price of transportation increases.
So is there anything we can do to counter this from a personal level?
I know the go to answer is contact your local representative but we all know that doesn't do much due to the lobbyists.
Guess we just slowly let everyone hit below the poverty line? Feels like we're just all on the Titanic
Increasing tax increases their expenses. It does not reduce food prices. Look at the annual wage of the top people. Comparing sales to the previous year means nothing because of Covid. You would have to compare sales to a year before Covid. Yes there might be a 4 year spread but it is the only fair comparison. What I find strange with this inflation is how the Politicians don't want wages to go up. They gave out stimulus checks in excess and caused inflation.
At the introduction of that guy he looked PISSED😅
Why not let European and American grocery chains come into the Canadian market to break up the monopolies the Canadian grocery chains hold. More competition, not taxes. If you increase taxes, the Canadian grocers will just pass the higher food prices to you. The consumer will not win with higher taxes.
That only works for the moment because it means less jobs etc...many ppl are lost in Canada and fail to realize all major corporations like Walmart etc which are not Canadian rarely hire as much as ppl assume...major leadership roles are out of country and part time roles are students that take jobs away from others yet don't really care for the hours
WALMART is American! You need to look at the farmers who work with companies like TYSON the farmer usually doesn't even OWN the livestock or the feed or even the equipment very few farmers now have ANY control over where it goes or at what price. There are only maybe a few actual companies out there and they have the monopoly all others are usually subsidiaries.
I agree. Aldi and Lidl would be awesome to have here
@@gizbel0783 yes!! Aldi prices are low, the would scare the Canadian grocers!!!
@@ctalcantara1700 🙄 even for the sake of variety
I think were excluding the grocery store pickup/delivery fees that's probably increased their profits a lot.
Break up the Loblaw & Sobeys duopoly now!! Force them to sell off Fortinos, Superstore, Metro, No Frills, T&T, Shoppers, Food Basics, etc
Loblaws doesn't own Metro. Metro is its own grocer and 3rd largest in Canada, owning Food Basics, Super C and Jean Coutu.
Lets nationalize oil companys too.
Or, hot take here: Our government could get their reckless spending under control and curb the carbon tax, which has a *hard* trickle down effect on grocery prices..
Do what Walmart is doing. No longer carrying products that increase their prices!!!
Thanks for the info!!
Follow the money. The government mark up on GST went up. Government raises the carbon tax %. We pay a GST tax on top of a Carbon tax. Government is squeezing us both side.
We have allowed the government to get so big so powerful.
Where is the money going, it the government just spending their budget? Only to increase it next year? Where is their fiduciary duty? Were is a palimentrt committee hauling themselves in front of themselves.
How about opening the market for more companies so we can have real competition.
Only in Canada monopoly exist in most important sectors from telecommunications, food, and construction. Which is marking everything expensive
High food prices and unemployment rates are a good way to keep people working for the "going wage". Layoffs for purposeful slow downs and unwarranted price increases are great tools for capitalists to keep their workforce in line. Just keep them worried.
If you see someone stealing food from Loblaws, no you didn’t…
If I work more hours or do overtime and earn more money, I have to pay more income taxes.
How come corporations don't have to pay more taxes when they earn more money?
How does that make any sense?
This world so messed up.
And then you wonder why income inequality is growing like crazy.
There is your answer right there.
They do pay more taxes just like when you work over time!
You’re right. They pay less taxes as incentive from the government to do more business and increase employment. They definitely don’t pay the same rate of taxes as the average person. And they also have lots of write-offs.
Only good thing about these prices it's made me quit smoking.
The only reason I am able to keep smoking is because I live 15 min from a reservation and smoking is cheaper than eating.
Someone also needs to look into Raisin Bran has anyone else noticed there's definitely no more two scoops of raisins in there? Last time I bought a box there is maybe 3 or 4 raisins that come out per bowl....
It has steadily been shrinking for at least the last 40 years.
Maybe they're still two scoops, just that the scoops have gotten smaller.
A windfalls tax needs to be done. This unrelenting greed is not acceptable!
and then they raise prices to cover the tax
If we want fairness, we should start by establishing a ratio between the lowest and the highest salary. In the fifties it was around 50, today it is over 1 000! Sounds fair to you?
These tax will eventually will burden on the consumers at the end … 😊
Simple solution: shop/do your groceries elsewhere. Loblaw isn't only the retailer in Canada. You're contributing to their wealth by shopping there. Instead of complaining, vote with your wallet.
Or shopping at its subsidiaries like Provigo and Real Canadian Superstore.
@@shauncameron8390 Or No Frills.
Boycott Loblaws.
I wish farmer's market is a common thing all year round. Maybe if we ate more fresh produce grown from farmer's market, it would be less expensive. If Loblaw is hiking up the price more than what the farmers are asking for, why not buy from the source. The produce would be the freshest and the ripest.
I don't think that's how growing seasons work in Canada
Corporate extortion needs to end.
So does government extortion.
Heres a thought - remove the carbon tax. Things will be out of reach for too many people when the next carbon tax kicks in .
Why people shop at loblaws and then complain? Loblaws was always 10-20% more expensive than walmart and others.
less government, with less government spending and taxes will naturally fix the inflation problem.
yired of high home prices, look no further than your local municipal governments
Greed!!!
Galen Weston Jr, loblaws, No Frills, PC, Shoppers.. are so good at capitalism.
Love the weaponized loyalty program, using data against the consumer and how I have to use it to save twenty to fifty cents. Congratulations on the profits Galen! I can't wait to see you in the next Holiday ads, grinning happily as you close another historic year of profits to go under your shareholders tree. A loyal customer
Loblaws best quarter ever, was $534 million,
If 1 in 4 Canadians shopped their.
Their weekly shopping trip made the company $3.30/ wk. you have look at the scale, that’s really low number for profits, and that’s not counting using that money for reinvestment in the company, like raising worker wages. Everyone wants $20, this and that. But have 0 idea how it all works.
@@helloitsme4139 shill for Galen much?
@@whatthatguysays7357 basic economics.
Liberal regime spending was/is out of control. That’s why we are having a recession, inflation is through the roof, Bank of Canada had to raise interest rates. They (Trudeau) borrowing money like crazy, he’s reasoning, interesting rates are low .5%. Now it’s skyrocket to close to 5% and we are footing the bill.
@@whatthatguysays7357 the liberals are so far out of touch is scares me. Spinning wild theories and blame everyone else. I make really good money.
For Example I push close to the million dollar mark.
My salary is in the 900,000, a year range. More then half of it is taken in taxed. 504,000 in federal and provincial income tax. Why should I have to pay so much more then everyone else. I’ve worked hard for every dollar. It makes me sick to look at my pay stubs. $20,000 every 2 weeks going to the Trudeau regime. We’ve had enough
@@helloitsme4139 you sound so mad, only $400k per year after taxes. Good point, there's a bit of justice in this thread after all.
Enough with the freakin taxes! Just lower the prices back to where they were when they were affordable and I wasn’t having to chose between rent and food.
And also lower the wages to what they once were when the food was "affordable."
They just raises the price, government should do price control instead
Because the government jacked up the taxes on them.
Also their employees have next to no hours. Amazing how greedy loblaw is.
Families, seniors, students, the average Joe and Jane are malnourished and falling towards starvation. Food is an essential - should be much better regulated. There is no market force because is not an option to stop buying food overall when the prices get higher on all of it. That is like holding all of us at gunpoint. This broad level of profiting is threatening the lives of 80% of our society.
And ... if our wages rise to match the rise in inflation then the B of C says that we're experiencing inflation and jabs more at us with high interest rates. Therefore... we're screwed either way.
I would love if Galen Weston had a plan in-place to reinvest those profits into NEW and innovative Canadian manufacturing using materials and labor from Canada and farming branches under their corporate umbrella. Private sector will ALWAYS spend the money better than government. They just have to be strongly motivated to invest in Canada. To invest in their families and their futures. A tax would be an unnecessary punitive waste... 500M isn't even a lot... Putting a tax on isn't going to change anyone's life once what's leftover from government bureaucracy trickles down to the people...
What a joke. At the Loblaws I shop at, 1 litre of cream was $4.29. Then about a month ago the Dairy Council approved a 2.2% increase in dairy product prices. The very next day 1 litre of cream was $5.00. Hmmm, that's not a 2.2% price increase. Now, 2 litres of Canada Dry ginger ale is $4.00. Outrageous.
So don't shop there?
Big corporations need to pay a minimum tax of 15%
ummmm, its at 28% already
Yeah, record profits and lying to the people blaming the pandemic. The problem is greed.
Canadian government should lower taxes
The man gets it
This guy is a puppet just giving talking points lol
Cochrane's got the right of it, wages need to go up.
Executives are making way too much.
And it is a mistake to think that Loblaw’s doesn’t have any competition. There are still other grocery chains surviving.
Dental an medical program is not going to lower our cost of living what a joke
And the CBC should pay the most because of the amount being given to them by us
ez, build a new crown company to battle those Oligopoly
*it's time they stop hording our wealth, that money should be circulating in the economy not sitting in some wealthy millionaires bank account. where is Robin hood when you need him*
What do you mean your wealth? You voluntarily exchanged it for their services. At that point, the money is no longer yours but theirs.
@@o1ecypher
Right.