NDP Leader accuses Loblaw CEO of raking in inflationary profits | Power Play with Vassy Kapelos 

Too bad Jagmeet doesn’t attack JT like this.😂

Singh you need to go after the cancelation of the carbon tax with the same amount of passion. That would actually help Canadians a lot more

Wasn't it the Liberal/NDP government that raised taxes on farmers and told them they have to use less fertilizer for carbon, which raises the price of growing food?

"All I can't tell you is I'm getting richer and you are getting poorer" 🤣

The NDP leader should be questioning the government on their increases in taxes, carbon taxes, spending, waste, and terrible performance on inflation. That would have a much bigger impact on food prices.

You should stand up to Trudeau and ask him the same questions. Oh right, he doesn’t answer questions !

Higher property taxes from municipality's, higher trucking fuel cost, higher power and natural gas costs, most of inflation on everything caused by higher carbon taxes, and it's going up April 1st 2023... and Jagmeet is fine with that, and continues to support the Liberal government as long as he keeps his job and pads his pension.

This Country is doomed.

Was hilarious how he was trying to talk tough

I understood what Galen Weston was saying perfectly. Why is Jagmeet Singh the Leader of the NDP?

I've seen food rotting before it's sold because ppl can't afford it. It appears they'd rather throw it away because that's what they're doing

Galen didn't really answer the questions...

I have trouble with this when Loblaws got $12000 dollars for freezers from the tax payers.

“I had a conversation in a store with a customer who didn’t exist the other day and she agreed with me.”

Why doesn’t the NDP leader grill the egg and milk marketing boards, who’s sole purpose of their existence is to maintain high prices ?????

What about the record profits of mortgage companies and banks that are raking in record profits from higher interest rates? I’m definitely paying more now for my mortgage than all my groceries combined.

Food Prices are even worse in the Province of Newfoundland ..Families had to buy unhealthy foods just to get by because the healthy stuff was beyond what they could afford... so our government being such concerned about the provinces health...raised taxes on food with sugars.. yet failed to lower the price of healthy foods...

Who has a grocery basket worth $25.00? Mine is $250. And yes, I want that $10.00 back.

Singh has a nice rolex

Is he wearing his Rolex today.

Honestly, i could care less on their profits. If their yearly margins as a percentage are relatively consistent, then its not predatory. Realistically, if inflation is at 7-8% year over year to date, their profits should be in line with that number. Otherwise, they would be losing money comparitively. I hate the cost of groceries, but all businesses have to account for things like inflation and their own rising costs to keep their margins in check.

Singh, it's a private company...not a charity case.

How can you justify all those direct and indirect taxes for food

How many rolexes are too many rolexes

Singh is looking at the wrong person who is responsible for high food prices. it is his buddy, Justin Trudeau who has taxed and inflated the Canadian dollar with out of control spending all at the bidding of Singh. If Jagmeet truly wants to help Canadians, he has to withdraw his support for the Liberals and let the Conservatives take control to fix what he and Justin has broken. The longer Singh continues this. the worse his future political career looks.

Honestly higher food prices have been hurting me as they have everyone, but Jagmeet can't seem to understand the difference between a profit margin which is only 3.8%, and record prices leading to higher records. Even if they became a non-profit overnight we'd hardly feel the difference, the problem is in inflation and supply and shipping costs which is a government problem.

Boycott that store

GST is a larger expense then the profit of the company. Give me a break. It’s obviously the government that is gouging everyone. Then there is the carbon tax. The government is the only source of inflation.

I hate the fking carbon tax and GST, PST! So, the government has also taken tons profit from inflation as well, why don’t they say anything?

Singh needs to quit worrying about Loblaws profit and go after the Liberals who caused this. He is a real piece of work, if you own a business you are allowed to make a profit. Maybe Singh should give back his overpaid salary.

I know how Jag feels… I have the same price gouging problem with my income tax.

I don’t blame grocers…I blame the government and BOC for their attack on Canadian wages! We have 1980 wages in 2023

Way to go Jagmeet, your performance ensures you will always have a role in the Vancouver City Players drama club when you are finally voted out of office!

grand standing by zing. he could care less about canadians

I still have more respect for this guy then I do the libs and NDP. Mainly because he is answering the question asked of him. Why don't the politicians in power do somthing about the inflation. They are responsible for it.

We live in a capitalist world. In 1973 concern of Canadian was inflation and gas price...under Pierre Elliot Trudeau

wish he would grill trudeau like this !

Funny a politician would say " You still have not answered the basic question"

Jagmeet is trying to act all NDP for the little guy while propping up the problem guy. How rich.

Singh should open his own grocery chain if he thinks he can do it cheaper???

In 2019, Loblaw’s markup was 44.3 per cent, and in 2022, it rose to 46.7 per cent, based on the company’s financial statements. Canadians would have saved close to $900 million if Loblaw had kept its 2019 markup. That is the definition of greedflation.

Well if the NDP leader is talking about greed i bet he will take his pay raise on April 1st he should take it and give it to the food bank that would be a thing to do

4% profit? thats nothing

Mr, Singh…how much is too much???…how about your income?

Loblaws is owned by the Westin Co who have a monopoly of Canadian grocery stores and pharmaceutical retail.

Singh is actually the one for allowing this because he’s the ONE keeping Truadue in power. This is all just a show and he’s trying to act for his supporters that he cares when in fact he doesn’t really care.

I work at a loblaws when he said, "we ad match in our large store formats." I had to take a double take, i can't speak for other loblaws, but our store does not ad match.

Galen absolutely handed Jughead his ass in this “debate”… jughead doesn’t know what he’s talking about in the slightest, he just knows one phrase, “record profits”.

Canada has a problem it is known that you can freely launder money and take advantage of hardworking Canadians. Mr Singh is right of course, he just has no legs to stand on with his track record of breaking promises and enjoying his position of privilege while being paid handsomely with our hard labour

Jagmet Sighn does not deserve to be in Canadian politics and parliament cause he is rude enough to disturb Canadian MP .

I love Jaghmeets interview style. Just blindly repeat the same question over and over and over again hoping for a different answer. I never realized how actually unintelligent he is. Really sad someone this powerful can’t even understand basic economics. Comical

Jagmeet is getting a pay raise April 1st, why doesn't he donate that to families in need? Hmmmmmm

Greed by investors for large dividends, shame on the ceo and his 15 million dollar salary

Business need profits to sustain. Please why is no one talking about the silly carbon tax and why isn't the oil production in Alberta being started.

Yeah because of your policy

The ndp leader incompetence really shines through the moment he opens his mouth. The ceo handled the questioning very well. Maybe the ndp can learn from this.

Being a 68 year old pensioner and no investment to rely on....my Cherrios, bread and peanut butter is my go to...compared to his BILLON dollar profits. They are all greedy... politicians too...I'm broke

Do ya think the carbon tax may contribute to rising costs? The government needs to distract the zombies.

Government: Raises taxes Companies: Raise prices Government: How dare you!? Companies: What do you expect?

Can Jughead define "excess profit?"

Why doesn't the government take less of our paychecks and then we can afford the increase grocery prices? Anyone home?

My 6 year old has a better understanding of economics than Jagmeet Singh

Primary reason for price gouging by grocery companies in Canada is lack of real competition. American grocers must be allowed to operate in Canada to create competition that would bring down the prices.

A distraction from the fact that he shamelessly props the Liberals up. "Lapdogs to power" is what the NDP always are, and it's worse than ever under Singh, who is about as convincing on this food issue as a Grade 10 debate club member.

Bring in Lidl and Aldi already. Enough of this Canadian grocers alliance who are only there to gouge Canadians. There is nothing patriotic about filling the pockets of Canadian billionaires.

We need to see food prices go down as soon as possible!!

I’m not a fan of what grocery companies are doing but here is the reality to those who haven’t paid attention - costs to grocery stores have skyrocketed in the last 2 years, all because of government mandated decisions. The cost of groceries was almost stagnant for 5 years before Trudeau, Ford and the rest of our elected officials decided to use COVID to advance their agendas and increase the costs for everyone. Don’t forget when you complain about grocery costs that, those are not the only costs out of control and it’s all because of government regulation costs.

Canadian government shouldn’t allow an OLIGOPOLY to exist of a “necessity” such as food. But 80% of food industry is controlled by 5 companies!! This oligopoly shouldn’t be allowed to exist. So why has the government of Trudeau simply allowed this to continue? Canada should adopt same legislation as Sweden - limit CEO salaries to be a certain multiple of the average workers salary. This has prevented CEO salaries from getting blown up like they are here in Canada. And most Swedish CEOs have continued living in Sweden and didn’t run to foreign countries to earn higher CEO salaries.

Duh!!!… Mr. Singh…maybe get rid of the carbon tax!!

Not only have prices tripled, but portion sizes have decreased and choice has diminished. Fuel prices for delivery get passed on to the consumer. The products seem to be having a shorter shelf life.

Singh has zero understanding of running a business and is acting like Weston is pocketing 100% of profits.

Oligopolies, Canada is famous for them

Pay your workers better while your at it.

TF is the difference between profit and excess profit Jagmeet? I just don't think he understands any of this

Scrap the carbon tax and see prices go down!

Sell the fridges trudeau gave you weston, lol

Turning a double profit off a recession? Gtfo Mr. CEO.

interestingly enough.... loblaws margins are not up. they are flat. what did go up was consumer demand. they sold more.

Jag should run the food business lol

The irony of this is hard to “square”…

Thank you Singh for being vocal about this issue. You have my vote next time around. Thanks for going after him.

Laughing my ass off profit is too much profit look at him sit there and his custom-tailored suit and rolexes

I think the CEO did an amazing job keeping his composure and answering the questions, concisely and clearly. The politicians in Ottawa today our more out of touch with the country then ever before. None more so then this tool Jagmeet Singh. what an embarrassment that was.

This is ridiculous. Supply and demand are a function of an economy. It is terrifying to hear the NDP fail to understand how our economy works. Never should the government be interfering with the market. Congratulations to Mr. Weston. Free Enterprise is alive and well. Canada loves this retailer. The Crown shows get into the food distribution business and compete with the best. 😂❤🎉

Gas is down now, but the prices never slow down!

As stated, the customer has less money. The result is that the customer will focus on important foods and leave the frills on the shelf. Unfortunately for the store, the basic foods normally have low margins. The junk foods that have high margins and tend to carry the store are not selling at all.

My basket of goods a year ago was $50. Now the same goods cost $75. The more I have to spend the profit collected. Also note many prices are $2.99 if you buy 3, but $4.29 each. Also forcing you to buy more or give more profits to the store. With prices so high, can’t afford to buy in quantity.

I stopped going to no frills because the prices got so out of control. Wild that that’s their discount chain.

Wait we all VOTED for this it's not the stores it's the government policy!!!! Vote with your wallets we all know who we can thank for this cost of living. !!!!! Luckily, I'm still donating to food banks for the less fortunate and will continue to do so...

Jagmeet should check his garage and wrist.

I don't see how 4% profit is a problem. Almost everything we buy is marked up way more. It would be a worse situation if they didn't have profits and closed. I'd look into the source of the problem more. I'm sure there is a lot more to inflation than them making $1/25.

If a CEO says “we are forced to raise prices and make you guys pay more because we won’t have these places without that excess profit” that’s NOT the truth. They refuse to take a haircut. Just like OPEC, just like Jim Pattinson.

Too bad Singh has led the charge to devalue the Canadian dollar by promoting deficit spending. Inflation would be lower with a stronger dollar.

remove the carbon tax and the cost of producing and transporting food will go down. This isn't hard

since the previous statement and a few seconds of your statement, it depends to what extent an individual or in this case a ceo is relating to the effort index every individual is responsible

Does Jag not understand elementary maths. Reminds me of Indian politicians, just keep repeating instead of comprehending what the other person has to say, and then maybe form a stronger argument.

Front line workers.... ya right...

Crunch some more numbers. 1 million dollars a day works out to about 3 cents per Canadian. It’s not enough to make a difference. NOTE TO THE NDP. Go after the real problem and put aside your inclination of going after private business. I’ll bet you the average amount of extra pay per day a unionized worker in the food industry gets is much more than 3 cents.

You don't profit when you're throwing out $7 a lb bacon...you pay disposal fees....this guy and his business theories sure aren't his fathers....he's lost....he is putting farmers out of work, starving his supply chain, and has a consumer base that can't afford his greed, blatantly.....He contracts all his Ontario trucking out to companies that don't pay their drivers properly and are infamous for it, he has lost control in the name of big government payouts to ensure bread scandals..... We in Canada have bread selling for $5.50 for two light loaves and he says the bread scandal is over. He'll give you a $25 dollar cheque back after ripping you off for $250 every two weeks for basic necessities.....in the USA loaves of bread are literally .57 cents, a four-liter jug of milk is $2.50, and here in Canada nearly double and quadruple. No price gouging going on here folks in the interest of profiteering......non at all..... The laugh of it all is you don't make profits from throwing products away and the waste is astronomical because of the price increases. Consumers walking out the store with the product and actually illuminating waste by lowering costs before spoilage is actually how to double and quadruple profits, but he just can't see the forest for the trees as he's in the multi-millionaire world of mismanagement brings profits......the nation has to get it's stuff under control.

You will never be able to get the truth no matter what, nor sympathy. The lines have been so expertly trained and explored.