The Treasury’s supermarket food price cap wheeze was bananas | Nils Pratley
The UK Treasury's proposal for voluntary price caps on food staples has been met with significant backlash from retailers. Marks & Spencer's CEO called the idea 'completely preposterous,' highlighting that the UK food market is competitive and not in a state of emergency. Experts argue that price caps could lead to negative consequences for supply and suggest that the government should focus on ensuring competition rather than imposing price controls.
- ▪Stuart Machin, CEO of Marks & Spencer, criticized the Treasury's proposal for price caps as 'completely preposterous.'
- ▪The UK food retail market is considered more competitive than that of continental Europe.
- ▪Food inflation was reported at 3% in April, and while it may rise, the UK is not facing an emergency situation.
4 outlets in our directory ran this story, first to last over 25 hours. Coverage spans 3 points on the political spectrum — 1 lean left, 1 centre, 1 right.
- ▪ Will UK supermarkets cap food prices and how could it work? — The Independent
- ▪ Reeves Moves to Force Food Price Caps on Supermarkets — Guido Fawkes
- ▪ Treasury pushes supermarkets to cap food prices — Financial Times — World
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| Original publisher | The Guardian — Politics |
| Canonical URL | https://www.theguardian.com/business/nils-pratley-on-finance/2026/may/20/treasury-supermarket-food-price-cap |
| Publication time | Wed, 20 May 2026 16:41:55 GMT |
| Retrieval time | 2026-05-20T16:55:02.700Z |
| Last seen | 2026-05-20T16:55:02.700Z |
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UK food retailing is generally regarded as a more competitive place than continental Europe. Photograph: Alicia Canter/The GuardianView image in fullscreenUK food retailing is generally regarded as a more competitive place than continental Europe. Photograph: Alicia Canter/The GuardianNils Pratley on financeSupermarketsThe Treasury’s supermarket food price cap wheeze was bananasNils PratleyRetailers such as M&S need not worry – the UK is not in a state of emergency and competition is clearly working Call for food price caps ‘preposterous’, says M&S boss Wed 20 May 2026 12.41 EDTShare“Completely preposterous,” said Stuart Machin, chief executive of Marks & Spencer, about the Treasury’s proposal for voluntary price caps on food staples.
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