UK Government could ask supermarkets to cap price of food staples in battle against inflation
The UK Government is drawing up proposals to ask retailers to charge the lowest possible amount for some basic products like bread and milk.
Barclay acknowledged small family-run businesses would themselves be under “significant pressure” and stressed the plans are “not about any element of compulsion”. It comes after Chancellor Jeremy Hunt backed interest rate hikes – even if they risk of plunging the UK into recession – in order to combat soaring inflation.
Scottish politics Andrew Opie, director of food and sustainability at the British Retail Consortium, said: “This will not make a jot of difference to prices. “Supermarkets have always run on very slim margins, especially when compared with other parts of the food supply chain, but profits have fallen significantly in the last year.
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