RISHI Sunak is drawing up plans to cap everyday supermarket basics such as bread and milk.
Downing Street has started working on the plans, modelled on a similar scheme in France.
2
2
They are considering radical price controls after worrying stats out earlier this week revealed food inflation is still alarmingly high at 19.1 percent.
A Treasury source told The Sunday Telegraph: “Food inflation is much more resilient and difficult to get rid of than we anticipated.”
The price caps would be voluntarily imposed by supermarkets.
Retailers are expected to be allowed to select what items they would cap and only take part in it voluntarily.
But it would be the biggest intervention in price controls since the 1970s.
A No10 source said the proposals are at the “drawing board” stage.
The government is increasingly worried that inflation is staying stubbornly high, adding to the cost of living crisis and dealing a blow to hopes of pre-election tax cuts.
