Ministers are pressing supermarkets to cut costs for shoppers by capping prices on essentials such as eggs, bread and milk.
Treasury secretary Dan Tomlinson confirmed on Wednesday that talks with the sector had taken place “about the steps that they can take to support people with the cost of living”.
He said supermarkets would not be forced to cap prices, but even a voluntary scheme has been described by Marks & Spencer’s chief executive Stuart Machin as “completely preposterous”.
The Treasury’s proposals
The Treasury has asked retailers to limit prices on certain products in exchange for an easing of packaging policies and a potential delay to rule changes around healthy food.
