“Lost for words…. Never thought I’d see a British govt trying to set food prices” says the former head of the Institute for Fiscal Studies .
Government policy; higher employer NI, higher NMW, business rates pressure, energy policy costs, packaging waste regulations and healthy anti obesity policies have all contributed to the rise of food prices.
Alongside the war in Iraq, government policy directly impacts on rising UK food prices.
The government’s reactive approach is to now ask the supermarkets to cap the cost of essential items in return for delaying imposition of some of their policies. This government is renowned in the art of the U turn, one might be required now.