The kicker is that formula fed babies are, as a group, poorer and more disadvantaged in pretty much every way. Poor people get ill more.
This isn't the case in many other countries, and research mentioned on the UNICEF website is international, quite a lot in Scandinavia where bf rates are much higher.
The current economic climate and pressures, of which the inability to obtain loyalty card points on first stage formula is one very small part, have also created an environment in which poorer communities are now seeing sub-optimal formula feeding:
Absolutely. The laws on promotion and discounting don't stop formula milk being sold cheaply though, if it is usually sold at that price. Why do formula manufacturers price formula to be so expensive? Why is so much spent on branding and promotions (of follow on milks in similar packaging to first milk)? There are no scientific head to head studies comparing formulas so that parents could make an informed choice between different brands- e.g. least likely to constipate, least reflux- instead just advertising promoting dubious claims, and meaningless branding.
How much better for parents if formula was cheaper, in plain packaging, no adverts and stuffed toys, but proper studies comparing the different brands so parents could make informed choices.