Industry Minister François-Philippe Champagne Says he’s working hard to keep his height in check grocery pricesThis despite no windfall tax for grocers in the 2024 budget, following earlier threats to impose tax measures if prices were not brought under control.
But in an interview West BlockChampagne told host Mercedes Stephenson that he still believes competition is the best way to rein in food prices.
“We have a lot of concentration when it comes to grocers in the country,” Champagne said.
In recent months, Champagne says he has been courting foreign grocers to enter the Canadian market.
He says he will make announcements once deals are finalized, but an unnamed US grocer pointed to a significant barrier to entry into the northern market.
“I met one of them in the United States, and the biggest hurdle they faced was leases. “They couldn’t find 400 or 500 leases or properties to lease around the country, even though they were very large, worth billions of dollars,” Champagne said.
“So, is it easy? No. Is it worth the effort? Definitely.”
As part of the Fall 2023 Economic Statement, the government introduced reforms to the Competition Act, focusing on grocers. Chief among them is giving the Competition Bureau the power to subpoena information collected from companies like grocers as part of market studies and making it illegal for corporate grocers to bar independent shops from setting up shop in the same commercial building.
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but in his interview West BlockChampagne indicated that these improvements are causing American grocers to take another look at Canada.
On Thursday, Champagne attended a “historic” announcement in Elliston, Ontario, with Prime Minister Justin Trudeau, Ontario Premier Doug Ford and Honda executives on the Japanese automaker’s $15 billion investment in electric vehicle production.
The plan includes repurposing the existing Honda plant in Alliston to produce purely electric vehicles and building a battery production plant nearby and two battery parts manufacturing facilities elsewhere in Ontario.
“It’s sending a signal to the world that we have the best workforce in the world, that the place to invest is in Canada, because we now have the entire supply chain when it comes to batteries and electric vehicles. Honestly, today is truly a game-changer. It’s kind of historic,” Champagne said.
The retrofitting of the Elliston Honda plant is expected to be completed in 2028, with an annual production target of 240,000 electric vehicles a year.
The federal government aims to make all new consumer vehicles sold in Canada zero-emissions by 2035.
Asked whether the government is doing enough to build the infrastructure to power and charge all these electric vehicles, Champagne focused more on vehicle production, but said more needs to be done. .
“Okay, we’re going to do more. And it’s great because when you have that kind of investment it’s like a catalyst,” Champagne said.
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