As the cost of basic essentials such as milk and bread continues to surge, the British government has intervened and suggested to retailers that they put a cap on the prices.
When confronted with questions regarding how such control could be achieved by the health minister, Steve Barclay, by BBC TV on Sunday, he replied that it was “not my understanding.”
As per the experts, Prime Minister Rishi Sunak is engaging in talks with supermarkets and France’s major retailers to strike a deal and charge the “lowest possible amount.”
The PM’s office declined to provide any further insights on the report that were cited by sources within the government.
Barclay told BBC TV: “My understanding is that the government is working constructively with supermarkets as to how we address the very real concerns around food inflation and the cost of living and doing so in a way that is also very mindful to the impact on suppliers.”
Britain is facing the worst food crisis since 1970, with food prices surging by more than 19% in recent years. It has also affected household budgets due to higher energy prices as the Russia-Ukraine conflict continues.
In recent weeks, major supermarkets like Tesco and Sainsbury’s declared they would cut down on the prices of some food items.
representing all the major supermarkets, the British Retail Consortium (BRC), condemned the government for implementing new regulations for many of the costs and requested to simplify rules “rather than recreating 1970s-style price controls.”
BRC’s Andrew Opie said: “This will not make a jot of difference to prices. High food prices are a direct result of the soaring cost of energy, transport, and labor, as well as higher prices paid to food manufacturers and farmers.”
- Published By Team Timeswire