Canada’s Finance Minister says the federal government is prepared to use every tool in their toolbox, including tax policy to make sure grocer prices stabilize. This is in response to reports of higher profits and sales from two of Canada’s major grocers – Loblaw and Metro.

Christia Feeland believes there needs to be more competition in Canada, particularly in the grocery sector. She says, “A very important way to bring prices down is through competition. Canadian competition law traditionally has not been geared principally at ensuring competition.”

The Loblaw third quarter report includes a five per cent increase in revenue for a total of over $18.2 billion. Metro’s fourth quarter report included sales of over $5 billion, a rise of over 14 per cent according to its news release.

Here is the Loblaw news release:  LCL_Q3 2023_NR

Here is the Metro news release: metro fourth quarter