Jagmeet Singh vs. Galen Weston on grocery profits
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- Опубліковано 8 вер 2024
- The leaders of Canada’s major grocery chains say that food price inflation is not caused by profit-mongering and that their margins on food-related profits have remained low. The CEOs and presidents of Loblaw Cos. Ltd., Metro Inc., and Empire Co. Ltd. appeared Wednesday in front of a parliamentary committee that is studying inflated grocery prices. NDP Leader Jagmeet Singh focused his questions on Galen Weston, the billionaire chairman and president of Loblaw.
Singh keeping Trudeau in power is contributing to inflation , big jump in the carbon tax coming April first . That’s the same day Singh and the rest of the MP’s get a raise in pay indexed to the inflation rate .
Isn't that the day the carbon tax goes up again? Lol. These politicians are going to be tossed out
what jagmeet isn't grasping is that if loblaws were to give food away at zero profit.... that grocery bill would only reduce by one dollar. loblaws margins are not up. what is up is consumer demand.... they sold more groceries. what jagmeet is also not grasping is that companies are allowed to make profit. they have shareholders. they reinvest. one thing jagmeet could attempt is get govt out of controlling the dairy industry. that would lower the cost of anything with dairy in it. cheese is the most often stolen item in grocery stores bc govt is involved.
@@nickyalousakis3851
It has nothing to do with more people buying food
@@jimone732 -- when margins are flat and sales are up.... what do you think it is?
@@nickyalousakis3851
I don't believe that notion that sales are up ..and if they are it is simply based off other grocery store such as price shopper closing down..
Why did Trudy give Loblaws 14 million tax payers dollars to buy new fridges for their stores
Because Trudy and Galen belong to an elite circle, leaders like Trudy are comparable to fox guarding henhouse
Why do they give rich folks tax credits so they can buy $100,000 cars for $80,000?
@@stevesmodelbuilds5473 talking about EV's?
most rich people trade in old car for new car and our old car is still worth 30,000 to 60,000
the 4x4 and the cadillac are now worth more than MSRP new,
Jagmeet forgets to mention all the cost increases he's help Justin push through. Diesel costs, carbon taxes, payroll taxes....
the left never make any connections to their outdated ideas. if jagmeet went after the dairy board controlled by govt to artificially inflate the price of dairy that would actually be a start. get govt out of the way. but no.... leftism loves big govt and control. it's funny in my youth i was a lefty./... and today more mature and knowledgeable i have moved centrer - more where conservatives are today.
Also, did not mention Politician’s multiple pay raises.
@@deborahmcdowell6871 There's another coming next month is there not?
I'm not sure why supermarkets not mentioning this why are they covering up for trudeau?
$12 Million for new fridges in 2019 was an unrelated gift from the liberals.
I’ve been self employed my entire adult life. One thing I’ve learned over these past 30 years? NEVER take business advice from someone who has never owned their own business.
Amen! Singh is acting like loblaws is a charity.. why would they sell billions in produce if they weren't going to get billions back. I swear he lives in a fairy tale.. somehow more naive than Trudeau
Absolutely correct 👍. With the peaks and valleys that can happen in ANY business, only the ones with government ..... let's go with " relationships " get bailed out by the taxpayer .. the rest ..just end .
Take advice is one thing, answering questions is an other. Business owners in western countries also benefits from things like educated staff, functional law enforcement, roads, infrastructure and other things. So of course, the grassroots wants answers. And the answers given are reasonable in my opinion. When energy becomes expensive, everything become expensive. You can’t produce anything without energy. Nothing. And energy crisis are a political construct today, same thing here in Sweden, but not the rest of Scandinavia.
So u r supportin the price gauging which is excess the price. Because of this crappy usa policy or fuckin nato alies support.
@@SuperKahin You are going to learn how to spell correctly if you want to speak to me………
This man's grasp of economics is grade school level. Grocery costs are up because EVERY step in the production of food gets hit with the carbon tax. The fuel to plant, the fertilizer, the cost to harvest, the cost to transport the raw goods to manufacturers, the cost to produce & then transport to the stores. At which point the stores are working with 3 percent margins, & then pay the carbon tax on their heating/cooling. The man is more concerned with vesting his pension them actually helping Canadians.
Blaming everything on carbon tax? Is carbon tax costing double their profits? Oh wait, they are still profiting, even with the tax. Why does it need to exponentially increase at the expense of the consumer? Why is it okay for regular citizens to be financially struggling but not a corporation and its higher ups?
@@shyannvaskevicius8621 the carbon tax is the biggest problem to Canadians get rid of it now!!!!!!
THANK YOU!!! I've been telling people that since that farce of a tax came out... on every product you pay carbon tax at least 3 times... at least.
@@shyannvaskevicius8621 Bro. Businesses are leaving Canada for a reason. They need to make profit, invest their money and create infrastructures. It takes effort. Citizens are financially struggling because of politicians like Singh and their decisions to overspend. All those programs they implement. Where do you think the money comes from? If the government cared they would lower taxes but they don't. Yet you want businesses to? So many products in the grocery stores are sold at a lost. lol . Businesses need to make money and that's their reward for taking a risk and creating jobs. So your solution is for all businesses to stop making profits lol. Come on man. Then we are really screwed because no one is gonna even bother running that business and then you will have the government control all industries like Cuba. Guess what happens. Communism where the government makes the money and keeps it. Own a business and you will change your tune. You will work 80 hours a week. Struggle with uncertainty and an ever change in technology and trends all day every day. You will worry about employees doing their jobs and not slacking off, you will worry about more taxes and regulations. And then when you make it, you got people like you saying they should be taxed more and not make a profit.
@@barrys7515 well , at least they are operating a company with earnings. These liberals jet set around the globe entirely on other people's earnings...
How does Singh justify the exorbitant salary and expense account he has ?
Not to mention propping up a corrupt government that wastes millions and is more concerned about a globalist agenda than Canadians. Maybe if his union buddies didn't want $28.00/hr and full benefits, things might be cheaper.
And golden pension if he hang around JP long enough! Never mind rest of Canadians.
Jagmeet has been throwing the term "excess profits" around for a while now. Absolute lunacy.
Without profit...companies cease to operate/exist. With some extra profit, yes , managers and shareholders can get bonuses /dividends...but .. infrastructure can be updated ..pay increases for staff ..etc ... of course said company would have to operate with ethics and integrity ...
I just hope voters realize this guy is not fit to run Canada if he can't grasp this concept.
what don't you get about excess profits? Huge management bonuses and unjustified price increases, I find it odd that so many of the comments here defend corporate gouging or say what about this and what about that. Get real, he is price gouging plain and simple.
@@barronmcconnachie2389 Unjustified price increases? Inflation is through the roof whether we like it or not, increased fuel costs last year were also a major factor (which had an impact on greenhouse produce which often relies on natural gas), freight costs were through the roof.
The increase in profit can easily be attributed to families "tightening their belts" by cooking at home more and eating out less, resulting in higher demand for groceries and increased sales, in addition to the impacts of inflation.
There is a reason why grocery stores and other industries tied to them (agriculture and food processing) are considered "recession-proof".
@@jshmeek5900 According to Cochrane, Loblaw’s markup over base costs in 2010 was 32.5 per cent, by 2019 it was 44.3 per cent and in 2022 it was 46.7 per cent.
“If they had maintained their 2019 markup, that would have saved Canadians almost $900 million,” Cochrane said. That $900 million is excess profit.
The NDP supports the carbon tax that cause higher fuel prices for trucks that deliver the food.
And that also plant, fertilize, harvest, dry and maintain the fields where the food is produced.
Yes they do not belong in parliament ANYONE WHO WOULD NDP DESERVES WHAT WE GET
He really does not belong in Canada
It raises prices on everything. And all that revenue goes to what?
Fuck all.govts
Can someone please explain economics to Dingbat Singh?
They don't teach economics in kindergarten, sorry
Weston is no saint either
NDP keep calling out CEO but watch them back Trudeau’s pay raise for all those in Parliament! He should look in the mirror when claiming people are ripping off taxpayers!
you are correct.obviously the man knows nothing about economics.the printing of money and infusing it into our country is major issue. this resulted in interest rate hikes. and it goes on and on. Who in the name is voting this govermnment into power is beyond me.
Maybe you’re too dumb to realize the NDP is part of this inflation problem . Don’t forget the NDP support the Carbon Tax which cost buisness more money so food prices go up
@@paulwilliams2024 you are correct.The Carbon Tax is a scam it has added nothing but a aren't we great saving the plant.
He _would_ look in the mirror, but he doesn't want to barf all over his $3,000 suit or any of his C$17,000 Rolexes. Do try to be more understanding.
Terrible lot..who is voting for this mess. and I was love the negative HARPER comments.GOD HELP US ALL
I’m sure Singh didn’t turn down any of his raises!
Wow almost like we should all be making more money and corporations should be making less
@@Vostro- Singh is so stupid that he wants to control 'excessive' profits but not controlling his own
excessive salary
You backed this inflation Jagmeet!!
How much tax revenue is being collected from the grocery industry profits? Or the oil and gas industries? How does the federal government operate without these increased revenues? The reality is Canadians are struggling because of incompetent greedy politicians.
opinion only
@@trudyferguson1116 tax freedom day is June 15th. That means that the average Canadian works 6.5 months of the year solely to pay jagmeet Singh and the corrupt Canadian government.
The average Canadian would save $12 per month if grocery stores made zero profit.
Explain how it’s not greedy politicians.
Not enough tax is being collected from these huge companies, is the answer.
@@Vostro- explain how paying public servants more would help average Canadians?
@@Vostro- These companies pay more taxes than you could ever imagine - it's part of the reason why foreign businesses don't want to open up shop here.
Bank of canada gave bonuses, printed $450B and singh is quiet?
No money was actually printed though. Bonds were used, and had they not been used to give Canadians money, the economy would have suffered from deflation, leading us into hyperinflation. Any economist will tell you that the situation we are in due to government spending is better than what would have happened if people did not have money to spend during those times (pandemic) that led to everything closing down. Also remember, the BoC is seperate from the government (though a crown corporation) and we want to keep it that way. We want to keep as many things seperate from government control as possible, keeping the market as free as possible.
@Amelia Lutz Spending was required. But we overspent, Canada had the second biggest deficit in the world. Other countries got COVID too.
Also CBC gave 16 million in bonuses using tax payer dollars. Does Singh have an issue with that
@@AmeliaLutz.x , overspending by governments and printing money devalues the currency being a big factor in creating inflation. People not spending money does hurt the economy and creates job lose but doesn't drive inflation. Also already mentioned above it's not that the government had to give out money it's how they did it and for so long. Auditors suggest there is over 27 billion dollars of Covid benefit funds that are completely unaccounted for.
@@andrewdishman26 Singh is so stupid that he wants to control 'excessive' profits but not controlling his own
excessive salary
Jagmeet Singh is trying so hard and all he's accomplished is making the guy from the p.c commercials look endearing.
... and a pretty good businessman tbh. Jag is out of his depth by a league or so... or a couple of standard units of deviation on the ole IQ bell curve. ;)
How much CarbonTax is too much? 🤔
ANY carbon tax is too much!!
Singh helped Trudy cause most of our economic down turn
that is true.
stay on point
Agree
jack shad - Bingo!
What about the exurban amount of money the government spends every day?
They don't see that because we are 10 provinces and 3 territories. Tough for the feds to wrap their heads around that concept
I'm more concerned about how much of our country is apparently illiterate
That is what budget day is for, this is the agriculture and agri-food committee.
I'm not one to defend a big corporation here, but it feels like Jagmeet is deliberately not understanding. If Loblaw went from their 3.8% (quite small) profit margin to 0%, that's all consumers would get back (and it's probably not so simple), 3.8%. It's supposed to be the government that looks after runaway cost increases.
@@barrys7515 do you have ANY idea how a business works? How record profits can turn into losses if businesses don't reinvest in improving productivity and sales, etc?
@@JamesPhieffer do you know that children and families are hungry
Get rid of that carbon tax and stop printing money is the obvious solution
How is the profit $1 per $25?
@@NikeDattani1 per 25 represents a grocery store's typical 4% profit margin: 1/25 = 4% They price their products 4% above their cost on average. Grocery stores operate on very small margins. They always have. It's a high volume, low margin, business. Never been different.
Remember Singh is worth 10 million dollars.
It that excess profit?
for a politition yes he should give 90% back
Jagmeet worth 10 million dollars and here he is pretending to fight for Canadians. Why don't you redistribute your own excess wealth back? How much wealth is too much wealth, Mr. Singh?
Jimmy, how is your gold Rolex doing?
He's hypocrite
I wish they worked this hard to get an answer out of the PM.
Thank you for the added carbon tax in BC Jagmeet!!!
That is a FEDERAL tax Scott. Try again
If jagmeet Singh was really concerned about struggling Canadian, he might be asking instead how he justifies his own ridiculous salary that those struggling Canadians pay for.
And prop up a government that costs my family way more money then a trip to the grocery store. Sing and and Trudeau sure are 2 turds in a pod.
Rome is burning and Jagmeet is worried that no one will feed him grapes because they cost too much.
A party leader with a high school understanding of business and society.
Who wears fancy suits and a Rolex while driving fancy cars! Lol
He IS the problem but needs to point his finger at someone else! He forgets that when he’s pointing his finger, three more are pointing back at him! Such an idiot!
Jagmeet is propping up the government that is increasing the Carbon Tax and other cost, how disingenuous of him to complain
💯 %
Jagmeet hasn't got a clue how business operates.
Yes he does. Right now he's playing politics and deflecting blame.
He is sure making himself look pretty clueless
The sad thing is that his supporters are also clueless at the difference between gross profits and profit margins.
Business don't need to value shareholder greed over stakeholder wellbeing, yet that is what has happened to ths business world since the 1980s. People with a conscience don't look at the 1 in 9 Canadians living in poverty and say, you know what, corporate monopolies and extreme wealth are just the way we should do business. These 11 out of every 100 people in my community just don't matter.
Jagmeet you traitor!! You helped cause this
What is “excess ” profit? Is there a cap on profit? These are private companies.
Exactly why private companies need to be abolished
@@lordflick895 you think we should completely abolish private companies? 😂
Excess profits means that company is taking advantage of the situation to make more money.
@T Burg LCBO is deliberately keeping the prices high. Alcohol shouldn't be cheap and addiction studies back that.
@@lordflick895 what ???
I think the real issue no one at this table is talking about is how the Canadian grocery market is completely monopolized and foreign grocers like Lidl or Aldi cannot compete. Once those companies can enter the market, watch the Canadian grocers no longer be able to gouge day to day Canadians
100%
You speak of stores I have NEVER heard of. Take it up with YOUR provincial government. VERY few stores are FEDERAL. That is why Galen Westen is speaking FOR grocers in Canada. And Jagged Meat speaks for ALL politicians. Do you see the issue yet??
@@lorrainearmstrong7587Never heard of? You obviously never have left the country before. Lidl is all over the place. There is nothing patriotic about shopping at a Canadian grocery store. This association of grocers preventing foreign companies competing is partly what is causing this nonsense. Same goes for cell phone providers preventing Verizon from competing so we pay some of the highest bills in the world as a result. Canada needs competition.
Everything here is monopolise...gaz station..grocdru stores,restaurants, cell phone and cable companies...etc..etc..that is shile even knowing that this is illegal..welcome to canada..the most corrupted country of the western world..when you tall about big Corp controlling countries it don't get any better than in canada
Our biggest challenge is our farmers will be priced out of the grocery stores given the amount of taxes paid just to produce here. Local growers are already priced out of the American produce market.
Now if he did not destroy the NDP by backing Trudeau he might have a chance.
Jagmeet talks a good game but when the rubber hits the road he backs Trudeau.
Mulcair had more seats
Thousand dollar suits and wears a Rolex, Jugmeat is a hypocrite.
@@sandygeorge9741 yeah ?
how much is Pierre's suit ?
what kind of watch does Pierre have ?
he is a hypocrite but just because a guy has money doesn't mean he can't have compassion
@@seanfaherty Compassion? All he's doing here is deflecting blame onto someone else. He is playing politics. If he had any compassion he would have stopped Trudeau a long time ago!
@@jimdent351 I agree but he seems to have a bit more than anyone else in Parliament.
I wouldn't advise voting for him but I can call a spade a spade
@@seanfaherty
Pierre isn't pretending to be a socialist while propping up a corrupt anti democratic government.
Atta boy Jagmeet. Yell and scream and do nothing. You make a good liberal.
Jughead questioning a business profit while wearing a Rolex🤔
He’s a lawyer, obviously turned to the political arena due a glut of too many lawyers chasing the same dollars to sustain them 😅
Right people are struggling and Trudy keeps raising the taxes
Right people are struggling and private businesses keep raising the prices higher than the taxes
@@shyannvaskevicius8621 it all comes down to the carbon taxes. If the producers and distributors of our essential goods are being taxed more then it will trickle down to the businesses and ultimately down to me and you.
@@dom4591 But not to sockboy.
@@AllRequired who is that?
Socialists in Venezuela also had a problem with profits on food, they had the government there force prices to be at lower levels. The result?
Massive shortages on goods, especially popular goods like milk, diapers, etc... and then long lineups to get into the businesses left over or who actually had goods. A black market developed to sell those goods at market prices and often higher, which was far worse for people. Crime increased with theft for many of these goods. 5 million people have either fled or starved in Venezuela as Socialism fails despite its good intentions as it always does.
Politicians like Singh make excess salaries.
Name ONE politician that makes MORE money. There IS only one. The PM who increases carbon taxes. Never run out of carbon until PEOPLE all die. We ARE made of carbon, after all
No, in my mind they deserve the highest salaries in the country because they are responsible for some of the greatest change we all experience
and this all is because of you Jaggers!!
The government is also making record profits from tax collection.
Singh's ignorance on full display.
It's hypocrisy.
hooray somebody else realizes this clown has no business telling anybody anything. how many ridings did he have to run in to finally get elected
What does the carbon tax do to the price of groceries? Maybe time to cancel the tax on carbon so Canadians can afford groceries.
Galen has so much restraint. If I was him I would start hurling questions at meat head about the irresponsible decisions this government has made causing irreparable damage to Canada that generations will pay for. This questioning is ridiculous.
Exactly. Their spending and mass immigration policy has destroyed the system here. CRA has reported billions in unpaid taxes because criminal activity is out of control.
the questioning was ridiculous and very insulting to the CEOs.I would have walked out on that farce
Smoke and mirrors from the Fibrals and NDP not gonna distract me from the real reason for inflation.
Jugmeat hasn't mentioned his wage increases in the past 3 years.
NONE of the MPs have, but they keep voting for THEIR wage increases and raise OUR taxes, don't they all??
Is this about wage increase or are we talking about food.
@@hardeepdhillon2791
Jugmeat doesn't appear to understand the correlation of inflation to wages. Contrary to popular belief, it's higher wages (along with the other rising operational costs) which drive up the food and comidity prices.
@@ricknash3055 Rick, its Jagmeet not Jugmeat first off. Second he is highly educated. Would I vote for him no bc of his party. Wages is understandable but that is not the main problem. As a farmer we don’t get paid what we should by the packers. Farmers dont get paid in time land prices are high. If we want to setup a greenhouse operation we have to apply for it and wait years for approval. Its hard to enter. There is so many restrictions on chemicals but the fruit that comes from California doesn’t have as many restrictions and we still import fruit from farmers that have cheaper land, cheaper labor, cheaper chemical and equipment. That is the root of the problem. This is happening before it reaches the grocery store. Who makes more money than the farmers who work year round. Blueberry farmers get paid $1.00 per pound and payment doesnt come until next year. But its sold over $6.00/lb at the stores. Where is the profit going?
@@hardeepdhillon2791
Hardeep, I disrespect the politician person who is obviously so totally out of touch with reality, which is why the misspelling of his name. (There used to be a comic with a character called Jughead in it). Perhaps you have someone close with that name? I don't mean any disrespect to them. The NDP coalition with the Liberals is preventing a recalibration of Canadian federal government. Regardless what either party says, it IS a coalition government.
Jagmeet " Two Rolex's " Singh calls out the Grocery CEO's. Galen gets grilled while consumers get drilled.
Where does Mr Singh invest his money?
His Rolex watch collection.
Singh and the NDP are holding Canada back. It's time for Canada/Canadians to stand up against these two political failures.
Canada needs a real leader! Go, Pierre Poilievre
it's liberals who are holding canada back.
@@nickyalousakis3851 Singh and The NDP continue to support the Liberals. And are the reason the Liberals are still in power. The joke has to come to an end!
@@TheChaz2011 - agree,.... hopefullly the toronto area will vote in a more cerebral way.
Jagmeet voted for Trudeau’s budget which gave these crooks tax breaks. that makes Jagmeet complicit.
Sorry Galen that answer doesn't cut it. By the way No Frills is excessivly expensive compared to 1 to 2 years ago.
everything is more expensive compared to 1-2 years ago thanks to incompatant politicians
get rid of the carbon tax and watch food prices come down singh is clueless
Singh is the problem.
This is such a red herring. Inflation from insane government spending is the problem. Champagne Socialist Singh.
This makes me laugh, The Liberal NDP Government built a pipeline for $45 billion dollars of taxpayers money , to ship cheap oil and gas to Asis with no carbon tax. Then tax the shi-t out of Canadian's Farmers cost have gone sky high and fuel for trucks to deliver food to the stores. Then think Loblaw should lower prices to make Trudeau happy. The truth is food supply's cost when up in price, delivery fee went up, Labor cost went up- so prices must go up! If you close one grocery chain in Canada food price will" Higher." How dumb is this Government?
Zero Profit = Zero Investment. That’s when businesses close and food becomes more scarce. Jagmeet is TRYING so hard to sound smart- he just ends up sounds uneducated and ignorant here.
Thank you Jagmeet Singh. Average people and families need price relief from Grocers not government.
Singh is so stupid that he wants to control 'excessive' profits but not controlling his own
excessive salary
Singh is out to lunch.
Singh supporting Trudeau printing and spending dollars like they were water is the problem not the grocery stores
These guys can’t see through their greed anymore
Bro. What greed man. It's the government greed. It's the government that created inflation and increasing carbon tax. Why don't you get angry paying taxes but when it's businesses you are angry with? Have you ever owned a business?
JustinFlation causes the food cost to rise up. If businesses don't profit there are no investors who want to invest in Canada meaning job cuts leading to recession.
@@seangaw6429 thank god someone with common sense. Why is Canada filled with socialists who don’t understand the consequences of their communist thinking
@@Mooseflows if you went Pierre's UA-cam channel he has 2 videos 1 petition to eliminate Bill C-11 and 2nd video has petition below the video petition for inquiry investigation on Canadian election foreign interference.
Singh is so stupid that he wants to control 'excessive' profits but not controlling his own
excessive salary
It’s simple if you don’t like their prices shop elsewhere many other choices like Walmart, Costco, Giant Tiger
I don’t think your grasping the situation
You just named most of the stores that Galen represents. You should pay MORE attention rather than trying to think of the names of 'grocery' stores
@@gavintoole9325he clearly lives in a 5k sq foot house in Vaughn
@@lorrainearmstrong7587 idk I shop at those places regardless of his affiliation with them and my bill is significantly cheaper 🤷♂️
Personally if I have Chinese goods shoved down my throat the least I can do is shop in a Canadian owned store...FU Walmart I will be damned if I give my money to 6 billionaires from Arkansas...
Look, there is a morally bankrupt, individual who only cares about lining his own pockets; and Galen Weston was there too. How sad is it that in this conversation Weston, is the lesser of the two evils?
Mr. Singh
Why don’t you take a pay cut
It's Capitalism 101 and always has been.
No, YOU don't get it. 14 are ya??
Useless meeting, these grocery boss is running around the bush.
I thought it was more that SINGH was running around the bush. YOU didn't pay attention, did you??
Why is Trudeau giving himself a raise while the rest of Canada suffers?
True low needs a raise with the whole puppets so they are with the majority poor and left without options to fly and eat what they please hahaha are we still here in 2023 you do see this is good cop bad cop and the ugly show they play us all into submission “ they been told “ keep up the stupid show at our tax dollars stop filing and how come politicians are not carrying insurance when they screw up Opps with there performance they wouldn’t even qualify to carry a possible 1 billion or trillion policy over country WEF crap and there young leaders of flies
Stop spreading lies lol. He didn’t give himself a raise. You should focus on topic why our food skyrocketed and how come these companies all brought in record revenues starting with the pandemic. Problem stands with individual business. Stop blaming the government when you ill informed...look into the details and understand the numbers.
@@dropgloves4491 you stop defending a cruminal
If Singh didn't support trudy and the gang we wouldn't be in this situation in the first place. This guy is a joke.
What about all the excess waste of tax payers money you helped trudy spend.
MR.Singh,you helped with this disastrous outcome that you supported.
Look in the mirror Jagmeet.......It all started with you and Justin..Don't play the blame game with us anymore... WE KNOW!!
Primary reason for price gouging by grocery companies is lack of real competition. American grocers must be allowed to operate in Canada to create competition that would bring down the prices.
Not interested in helping American grocers, thank you. Would I like American products in the stores? Sure, why not. But NOT at the expense of CANADIAN grocery stores. And that goes with EVERY federal government we have EVER had
The american Costco keeps increasing prices of food
how about getting govt out of the dairy industry? anything with dairy in it will instantly be cheaper. ppl on border towns like niagara always shop in the usa for cheese. cheese is the most stolen item in a grocery store. get govt out of the way.
I can't agree more. We cannot import many more affordable items. Like better cheaper tiny houses. Canadian Government enjoys Monopoly.
@@lorrainearmstrong7587 Monopolies do not help Consumers. Healthy Competition does.
Buy stock in Loblaw.
The dividend yield is only 1.38%. Not a great investment.
Get the NDP go after the liberal carbon tax that brings the rate of inflation higher and that's why Canadians are struggling to make ends meet
Jagmeet and NDP are pitiful.
3,036,348 Canadians disagree with you.
@@smyatt1 Good women Sarah.
Printing money and mass spending and rising gas price consequences:
- The fertilizers prices rose that caused higher food prices.
- Rising interest rate and Inflation rate that made $520 M profit for Loblaw or other grocery companies and banks in 4 months.
- It caused approximately 3,400 Canadian businesses to file for insolvency in 2022, said CAIRP, citing the latest statistics from the Office of the Superintendent of Bankruptcy, an increase from 2,480 insolvencies in 2021.
- The home and business rental fees and Car prices and loan and mortgage payments rose and it caused an increasing 22.5% Personal bankruptcies in the third quarter of 2022 compared to same time last year According to Second Harvest's figures.
- The food banks and other food-related programs across Canada served 5,141,481 people per month last year. The organization expects that number to climb to 8,208,679 in 2023, a roughly 60 per cent increase!
How can the government look people in the eyes and say more tax more tax
If they cared, they could scrap taxes on essential items. But they don't. Then they want businesses to do that. Hypocrites
@@Mooseflows If they cared they would leave Canada permanently.
Where was Singh when CBC, Bank of Canada and Via Rail executives gave themselves bonuses totalling $millions, they did that on the backs of the taxpayers, didn’t show any concern. Why isn’t he outraged about the MP’s getting a raise ? Don’t forget, everybody would be complaining a lot more if these companies weren’t making money, if Singh really cared about the cost of groceries, he’d be fighting the high gas and energy prices
Jagmeet is not even asking questions about what causes increased prices in grocery stores he just wants to berate Galen and not hear the response, which actually might help the government get some of this inflation under control. Instead he just says the same moral posture thing five times and claim grocers CEOs are the reason families can't feed their kids. I bet you Jagmeet could even tell you what Supply Management if the definition wasn't on his talking points...
Singh should realize by now that Canadians no longer have a say in how their country is run because its run by business while individuals pay for their free ride!
Hey Jagmeet! How much money should a politician profit from their power? BTW what time is it JAGMEET!
good one lol
If you want to stop the rising expenses suspend the carbon tax
It would make a big difference
I guess if they hadn't gotten away with their price-fixing scheme on bread for 15 years. they would have gone broke.
LOL had VERY little to do with bread. Had to do with COMMUNISM. Same crap they are pushing NOW
The sad part is that there are Canadians who believe corporations should be given free reign.
To add, there are poor Canadians who think that they are rich and some how feels threatened when corporations are put to task.
The only time CON supporters seem to understand the seriousness of the issue is when it reaches home.
One minute, the CONS want to pay for private healthcare, and the next minute, they screaming about the outrageous cost.
The CONS will flip and flop on any issue as long as it plays to their narrative.
I get a chuckle on this one. " I can look at my grandchildren and say I stood up against fiscal government spending." On the other hand, very same CON support corporations destroying the environment for profits in the name few temporarily unsafe jobs. At the end of the day, the very grandchildren have to grow up and live in a toxic environment. Not only that, the very same grandparents live with health complications from the same unsafe temporarily. At the same time, the owners of the corporations live a healthy good life.
There we go, that's what leftism should be about. No more of that pronouns and muh racism crap. Go back to your roots.
Whatever the case, why does Food Basics sell the 1kg apple pie for approx $ 3 less than the exact same brand and size at the Loblaw owned stores ? That's just one item as an example. Cheddar cheese 400g costs $ 4.75 at Food Basics but costs
$ 8.00 at Loblaws how is this not an example of profiteering?
Loblaws pays alot of money to politicians to keep them from allowing certain zoning laws go into place. To prevent competition from coming in. You'll never see Walmart near Loblaws. Even though Walmart would make it more affordable for people nearby
Never heard of that store. Would it be like No Frills??
Check the best before date and usually decides whether it will be discounted
No Frills (food basics is another company) buys and sells a lower quality (grade) of produce that the name brand stores Loblaws). Whole Foods costs more than a Main Line loblaws store and sell real high end products mostly organic. They have higher profits why not berate them for political points? Jag is trying to make points by grandstanding and misleading people.
@@longrider5113 no frills and food basics buy regarded and rejected product that Loblaws does not want do to their 10 percent defect tolerance. The shelf life of a Loblaws produce is 3 times that of any other grocery seller
Singh should ask himself "how do you square" that you get pay raises, live a lavish lifestyle, and raise taxes to cover your "green scheme"? Maybe Weston doesn't want to run in a deficit like the Federal Gov does.
Galon has the right to charge what ever the heck he wants. But we also have a right to shop where we want to and we don't have to support these large box stores where they over head and purchasing power dictate there costs. We can also support the Skyland's, the highland farms, the TNT and other stores and the small mom and pop corner grocer.
Let ALL the fresh produce rot on their shelves until they back off with predatory pricing 😊
Jag is a BAD actor! Ouch
You all are forgetting one major point: devaluation of dollar cause of insane printing!
Well people driving to these grocery stores are paying higher prices on gasoline due to the compounded carbon tax. Mr. Singh is all in favor of that tax on the middle class! He's all in favor of government greed!! Excess taxes is okay!! Government generated inflation is also okay according to him.
So only corporate greed is apparently bad according to him.
Both are affecting the cost of living in Canada.
Finally it's interesting to watch two people in the same room talking,but who aren't communicating with each other.
Let us not forget that in 2019 the Trudeau government "gifted" Loblaws $12 million to upgrade their refrigerators. This is the same company that fought against raising the minimum wage for it's employees. This is the same company that admitted to a 14-year bread price-fixing scheme that ended up in a tax court battle which resulted in them being ordered to pay back taxes worth approximately $368 million related to an off-shore Caribbean banking subsidiary. So, no improprieties here. Right?
Interesting how Weston doesn't even mention a first name for the customer he supposedly spent 15 minutes speaking to about the way the media is framing his company's record profits
almost like ~she doesn't exist~
What difference would that have made? Really?
It's almost as if.... it doesn't matter one iota.
Don't cry. It'll be all right.
The purchasing power of earnings and savings are deflating due to government spending. THIS... is the real problem - a deflation in purchasing power.
You know, I never thought I'd see myself routing for Loblaw's, but here I am.
I noticed this wasn't mentioned by Mr. Singh that Mr. Weston's holding (which includes almost every Canadian grocery chain) is making $1 per $25 spent. That's a 4% profit. Considering that a $200+ grocery bill for every customer is not uncommon these days, it's not even a question that each store is probably making Mr. Weston's holding over $8 a minute. Would that be reasonable for a multi-million dollar group to be profiting this much on the backs of our people in a time of such economic inflation? Even with Mr. Weston's fiduciary responsibility to his board and shareholders, this is an opportunistic greed that Canadians should not tolerate.
Surprised Giant Tiger still going, must have conglomerated with other low value companies, which I don't remember the names of. As long as there is a choice . Sawadee Khap 🤠
I guess they must offer something to those of us CUSTOMERS who shop there. I used to buy my groceries at Shoppers Drug Mart, no kidding. They had the BEST prices. Now they suck like every other grocery store
The comments here make me sad. So many people defending the right of a company to make billions of dollars in profits over the right for people to afford food. These companies don't care about you, and you'll never be rich like them. Power to the people.
So what do you expect? A communist run country? Companies have the right to make profit, with that profit most grow their companies and hire people like you so you have a job. You want to look to whose responsibility it is for the high prices I suggest you look to the government pf the Liberals and the NDP who support insane carbon taxes which will all be going up again April 1, so if you think items are high now you have to seen anything yet. Blame the source and the source is this illegal coalition government
@@modtrashfire5518 they have a right to make profit after all we live in a society that functions on companies doing just that. I’ve owned 4 businesses, how many have you owned? The taxes from the government will keep going up and the prices of everything will follow. The only way companies won’t make a profit is if people don’t purchase and they go out of business or they themselves can’t afford to buy their basic stock, and this holds true for every single business in Canada. Makes you wonder if that isn’t the plan, after all what nations tax their own people until they break? There is blame and it lies directly with the coalition government and their cult church of climate change.
@@colleenpritchett6914 Where do you think these profits come from? They come from us, from the people. Where do you think they go? They go to the ultra wealthy, to the 1% who already own more wealth than the bottom 50%. The people deserve more, we deserve not to be living in the streets and starving while so few have so much. Do I want communism? If it means no more billionaires and more human rights, then sure. Call it whatever you want.
@@modtrashfire5518 lol my god how naive you are. Tell me how old are you? I must be wealthy , and if so I am evil or I am lying. How about you own a business, work hard at it and technology changes or the Economy drops and you can’t make a profit? Or better yet life circumstances hit you hard and you are forced to declare bankruptcy? I don’t mind debating with someone who has an understanding if the the topic but it is clear you do not. You have an entitled opinion therefore you must be right. It’s called a free market, where those who wish to enter to make a profit do so and the free market decides if they want your product. It is an arena the government should never enter but ours has- thus we all will bleed until people wake up and understand who’s to blame. Enjoy your day
Jag talk about prices while wearing a Rolex 😆 🤣.
right on, my understanding he owns more than 1
Also true. He could've pawned that and gave that money to these people who are struggling to afford groceries. They are just as big crooks as the CEOs.
@@adriant240 pawn lol 😆 his suit is around 2g's easy.
Folks, Justin and his love with Jagmeet increasing carbon taxes. Why blame the businesses. They are in the business to make money…..
Jagmeet Singh is almost as big of a joke as Trudeau. Almost.
Carbon taxes are adding to prices
"excess profit"?
Exactly, what is excess profit?
@@kevinklassen4328 Profiting at the expense of consumers.
Gagmeat is an embarrassment he should be run out of politics for holding up the worst prime minister Canada has ever had. He has no right to question anybody about anything.