BBC Expert Compares Government Plan To Cap Supermarket Prices To Venezuela

Business editor Simon Jack said it could even lead to food shortages.

A government plan to ask supermarkets to voluntarily cap the prices of certain products to tackle the cost of living crisis has echoes of Venezuela, according to the BBC’s business editor.

Simon Jack said it could even lead to food shortages amid a mounting backlash to the idea.

The Financial Times reported that the Treasury had spoken to supermarkets about offering “incentives” to encourage them to cap the price of essentials like eggs, bread and milk.

That........

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