Asda and M&S Slam Government Food Price Cap Idea as ‘Preposterous and Idiotic’
Treasury officials said they are still discussing ways to ease household costs while ruling out mandatory supermarket price controls.
- Britain's government rejected mandatory grocery price caps on Wednesday, with Treasury minister Dan Tomlinson confirming officials will not implement such measures despite ongoing retailer discussions.
- Amid backlash from supermarket bosses, British Retail Consortium chief Helen Dickinson warned that forcing retailers to sell goods at a loss represents "1970s-style" policy amid Middle East conflict pressures.
- Former Asda chairman Lord Stuart Rose dismissed the proposal as "absolute nonsense," while food inflation eased to 3.0% in April, suggesting retailers already absorb pricing pressures.
- Chancellor Rachel Reeves will detail new cost-of-living measures on Thursday, stating she will "not tolerate" exploitation and granting regulators new powers to "name and shame" price gouging.
- Treasury officials remain committed to supporting households through broader economic options, encouraging supermarkets to reinvest regulatory savings to help keep grocery prices down.
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Mel Stride tears into Labour for 'toying with' food price cap plans: 'Absurd!'
Sir Mel Stride has launched a scathing attack on Chancellor Rachel Reeves over the now scrapped plans to implement price caps on essential foods.Speaking to GB News, the Shadow Chancellor hit out at the Labour Government for "toying" with Britons over the plan.Reacting to the Government's sudden shift on the plan following criticism from the Governor of the Bank of England, Sir Mel declared he "totally agrees" with the Governor's verdict.He told…
Evening Standard
perspectivemedia.comGovernment food price caps would be ‘preposterous and idiotic’, say supermarkets
A Government minister denied plans for price caps but confirmed that it is holding talks with supermarkets amid concerns over rising inflation.
UK rules out mandatory supermarket price caps
Britain’s government ruled out mandatory supermarket price caps on Wednesday, but said it was in talks with the sector on ways to ease cost-of-living pressures partly driven by the Iran war. Prime Minister Keir Starmer, facing potential leadership challenges after a heavy local election defeat this month, is pushing departments to shield households from rising prices. Suggestions of price caps, however, drew a sharp backlash. Marks & Spencer Chi…
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