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Decentralized Democracy

House Hansard - 267

44th Parl. 1st Sess.
December 13, 2023 02:00PM
Context: House Hansard - 267 - Dec/13/23
Mr. Alistair MacGregor (Cowichan—Malahat—Langford, NDP)
  • Dec/13/23 5:45:22 p.m.
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Madam Speaker, I do enjoy working with my fellow colleague on the agriculture committee. He will be familiar, from the multiple times that we have heard from grocery executives, that they are often talking about how they work in a low-margin industry. I think they present a slightly misleading argument. First of all, it should be pointed out that, in the last three years, their margins have doubled. If we look at it today, yes, when they are operating with a margin that is between 3% and 3.5%, it may look small. However, what people have to realize is that, when their gross revenues continue to climb, even though that margin may seem static, of course their profits will continue to rise as a result. I just wonder if my colleague can add a bit more to that because I have noticed a bit of defensiveness from the grocery CEOs and not enough attention is being paid to the fact that we do just have five companies controlling 80% of the market. Perhaps the member has some ideas on how we can try to turn that number around so that there is a bit more flexibility and competition there.
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