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Adam Pankratz: David Eby's new big idea — food shortages

Capping grocery store profits isn't the solution the premier thinks it is

David Eby has looked at his election campaign struggling to find its feet and decided that while socialism is good, even more socialism would be better. And so, last week, British Columbia’s stumbling premier announced a cap on corporate grocery profits on milk, eggs, butter, cheese, chicken and turkey. How this will actually address the affordability crisis that has flourished under Eby’s watch is unclear. What is, however, clear is that under Eby no private business will be permitted to move or operate without government restrictions, involvement or extra taxes.

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At his news conference Eby did not spell out exactly what capping profits entailed, but one must assume it means price controls. This is for a simple reason. There are ultimately only three ways any corporation can raise its profits: sell more, raise prices or cut costs. Presumably, Eby isn’t going to stop stores selling more if British Columbians want more butter on their bread, nor can he lower a store’s input costs.........

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