Corporate Profits: Inflation
Debate between Baroness Penn and Lord Trees(1 year, 4 months ago)
Lords ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Baroness Penn (Con)
As I have explained to noble Lords, the IMF analysis applied to the euro area.
Lord Trees (CB)
My Lords, there has been a large increase in the price of food for our consumers. What measures have His Majesty’s Government taken to ensure that the primary producers—in many cases our farmers, whose input costs have risen dramatically—are receiving an appropriate uplift in the prices they receive from wholesalers and retailers?
Baroness Penn (Con)
I believe that Defra has regular discussions with both food retailers and food producers to ensure that the market is functioning fairly for all those involved. At the moment, the higher food prices we are seeing in supermarkets appear to be down to the passing on of higher costs, but of course we keep that closely under review.