Industry Minister Francois-Philippe Champagne says he’s ‘disappointed’ in the lack of transparency Canadian grocery store giants have offered so far when it comes to tackling food inflation. He’s sending a letter to Canada’s Commissioner of Competition to express his dissatisfaction.
The gov’t can request info from the CRA on profits the big grocers make, compare them to pre-pandemic numbers and adjust their tax rate.
The other way is to reintroduce taxation rules from the 70’s (pre Reagan/Thatcher trickle-down stupidity) and force the companies to pay more for larger profits.
You can’t adjust the tax rates of INDIVIDUAL companies.