Matthew Lau: If MPs really wanted lower food prices, they would end supply management — via fpcomment
be high. Market prices, set by supply and demand, signal the relative scarcity of goods and services. High prices ration demand and encourage supply. A problem only arises when prices are artificially distorted upward — as is the case today for many food items. Government overspending has artificially ramped up demand across the economy while government taxation and regulation have artificially depressed supply.
And the loss to consumers is much higher than $43.8 billion. That only represents the higher price consumers must pay for farm products. What it omits is the many billions of dollars more in lost “consumer surplus” because fewer food items are available for sale as a result of this government-enforced scarcity. See, for example, the video that went viral a month ago of an Ontario farmer
30,000 litres of milk as required by federal authorities because of his “excess production.” Note that this $43.8 billion-plus price-gouging of Canadians isby all the same federal politicians who attack grocery stores over high prices. The House of Commons periodically votes unanimously in support of our government-run food cartels when our international competitors complain about them.
As if the existing supply management regime and other oppressive regulatory policies were not harm enough to consumers, further regulatory oppression is threatened that would heighten uncertainty, discourage investment, reduce production and raise prices throughout the agriculture and food sector. According to a
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Matthew Lau: If MPs really wanted lower food prices, they would end supply managementOpinion: Wherever prices are too high — whether in the grocery store or anywhere else — government is the reason. Read more.
Read more »
MPs studying Ukraine war to focus on NATO expansion during Europe trip - National | Globalnews.caThe committee is also studying Canadian aid to Ukraine and keeping up with international best practices to support the embattled country.
Read more »
Conservatives to suspend MPs' TikTok accounts, Singh dodges questions on NDP plansJagmeet Singh has nearly 900,000 followers on TikTok and it was a centrepiece of the NDP\u0027s communication strategy during the 2021 election.
Read more »
Tory MPs knew what they were getting into with Anderson meeting: organizersPierre Poilievre said in a statement last week that the Conservative MPs went into the meeting without knowing much about the far-right German politician
Read more »
Conservatives to suspend MPs' TikTok accounts, Singh dodges questions on NDP plansJagmeet Singh has nearly 900,000 followers on TikTok and it was a centrepiece of the NDP\u0027s communication strategy during the 2021 election.
Read more »
Conservatives to suspend MPs' TikTok accounts, Singh dodges questions on NDP plansJagmeet Singh has nearly 900,000 followers on TikTok and it was a centrepiece of the NDP\u0027s communication strategy during the 2021 election.
Read more »