OTTAWA — Liberal leadership candidate Chrystia Freeland has pitched a plan to lower food prices, tackling a key part of the cost-of-living issue that plagued her for much of her time as minister of finance.
Her affordability plan includes a promise to cap profit margins for grocers on essential items, including eggs, milk, vegetables and baby formula.
"This means cutting red tape, streamlining how government does business, and leveraging new digital and AI tools to deliver benefits and services to Canadians, faster and better." Rising food prices have been a major cause of anxiety and hardship for Canadians over the last four years. Annual tracking by four universities published in Canada's Food Price Report shows costs rose almost five per cent in 2021, more than 10 per cent on average in 2022, almost six per cent in 2023 and nearly three per cent in 2024.
Freeland said more than once in 2023 that Canada's grocery industry needs more competition, but efforts by her former cabinet colleagues to make that happen have failed to add new retailers to the system.
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