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Decentralized Democracy

Member of Parliament

Gabriel Ste-Marie

  • Member of Parliament
  • Member of Parliament
  • Bloc Québécois
  • Joliette
  • Quebec
  • Voting Attendance: 68%
  • Expenses Last Quarter: $132,165.46

  • Government Page
Context: House Hansard - 254 - Nov/23/23
Mr. Gabriel Ste-Marie
  • Nov/23/23 10:52:18 p.m.
  • Watch
  • Re: Bill C-56 
Mr. Speaker, that is a very good question. Bill C‑56 amends the Competition Act. This should have been done at least 20 years ago. If we look at what was happening in 1986, we see that there were 13 major players. As my colleague said, now there are only three. That number goes up to five if we include the two big American retailers that sell groceries, Walmart and Costco. These five companies form an oligopoly that controls 80% of the market. The Governor of the Bank of Canada told the Standing Committee on Finance that the problem is that there is no competition in that market because they are able to pass on 100% of the increase in input costs to consumers without reducing their profits. The competition is not working. Bill C‑56, when implemented, will prevent further issues in the long run, but it will not automatically restore a competitive market ecosystem in the food sector. Major challenges will remain. There is still a lot to do. Reducing food inflation requires many micro-interventions involving farmers, primary processors, and so on. It is a complex challenge, but there is certainly room for intervention in terms of large retailers that constitute an oligopoly. Bill C‑56 is a step in the right direction, but it is not the only solution.
229 words
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