MAY 26·irvinetimes.comMed
Government food price caps would be ‘preposterous and idiotic’, say supermarkets
Reports said the UK Treasury urged supermarkets to limit prices on essentials like eggs, bread and milk in return for easing some regulations. Supermarket leaders including M&S’s Stuart Machin and BRC’s Helen Dickinson rejected mandatory caps, saying retailers would sell some items at a loss. Treasury ministers Dan Tomlinson and Lord Livermore said the Government is not implementing a mandatory cap, though it is discussing ways to reduce household cost pressures. UK food inflation was 3.7% in Ap