Chancellor fears Iran war will push up bills even further for struggling households but supermarket bosses brand plan ‘desperate’

The Treasury is putting pressure on supermarkets to cap prices on staple groceries as a quid pro quo for axing taxes and red tape

British supermarkets are set to cap prices on everyday essentials like eggs, bread and milk under bold new government proposals - but ministers say this would not be a return to…

Chancellor fears Iran war will push up bills even further for struggling households but supermarket bosses brand plan ‘desperate’

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The proposals would see grocers cap the prices of essential groceries such as eggs, bread and milk, according to the Financial Times.

Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.AllNewsSportCultureLifestyleLord Stuart Rose, a former Asda boss and…

"There are certainly plenty of people in this govt whose understanding of economics is so poor that they might consider it a good idea."

Reports say the Treasury has spoken to supermarkets about a voluntary system of price caps to help ease the pressure on cost of living hammered households

The chancellor will announce a range of policies on Thursday to try and combat the economic impact of Donald Trump’s war with Iran

Could a supermarket food price cap help with the cost of living? Supermarkets are reportedly being asked to limit food prices, which could see the prices of essential groceries…

The Government's proposals for supermarket price caps have drawn comparisons to the 1970s and failed policies in Venezuela