Supermarkets: Pricing

Lord Tebbit Excerpts

Monday 14th October 2013 Lords Chamber

[Viscount Younger of Leckie]

I have no intention of apologising but I have recognised that there is a bite on household expenditure. I point out to the noble Baroness that the biggest drivers of UK food price inflation are global commodity prices, exchange rates and oil prices. As regards energy pricing, the Energy Bill, which is being led by the Department of Energy and Climate Change, will ensure that all households get the best deal for their gas and electricity by giving legislative backing to Ofgem’s retail market review.

[Lord Tebbit (Con)]

My Lords, in view of the crisis in the cost of government, would my noble friend consider getting together a group of senior retailers who would be asked to look at manifestos before an election, price up the promises and make sure that we know the unit price of government as proposed between the various parties?

[Viscount Younger of Leckie]

My noble friend makes an interesting point and it is firmly noted.