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Canada Aims to Revise Competition Laws in Response to Escalating Food Costs

By  |  September 18, 2023

Canada is set to revise its competition laws with a focus on tackling anti-competitive mergers within the grocery sector, as part of a broader effort to combat the escalating costs of food.

Prime Minister Justin Trudeau announced that he will be meeting with the leaders of Canada’s major grocery chains in Ottawa next week to address their strategies for curbing food price increases. Trudeau warned that if these companies fail to present a viable plan to restrain food price hikes, the government might consider imposing additional taxes on them.

Related: Canadian Watchdog Probes Price Hikes In Grocery Sector

The proposed amendments to the competition laws will also grant the Competition Bureau greater authority to require the disclosure of information necessary for conducting thorough market analyses. This move, outlined in a release dated September 14th by the Prime Minister’s Office, aims to enhance the bureau’s ability to perform effective studies of market dynamics.
Source: Reuters