NDP Leader Calls for ‘Severe Penalties’ for Price-Fixing Following Loblaw Settlement

Published on July 26, 2024

NDP Leader Jagmeet Singh has called for “severe penalties” for corporations that engage in price-fixing following news that Loblaw Companies Limited and its parent company, George Weston Limited, have agreed to pay $500 million in penalties for their role in a bread price-fixing scheme. “The rules should be there to protect Canadians, but the rules written by the Liberals and Conservatives by Justin Trudeau and Pierre Poilievre, have allowed big corporations to rip you off,” Mr. Singh said during a July 25 press conference. “There are no real penalties. We want to change that. We want severe sanctions, severe penalties.” Loblaw Companies Ltd. and George Weston Ltd. announced in a statement on the same day that they have agreed to pay out $500 million to settle a class-action lawsuit against them for their involvement in an “industry-wide” arrangement to fix the price of bread. It’s estimated that Canada’s largest grocery retailers and bread makers overcharged consumers by $5 billion over 16 years....

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