Agriculture Committee on March 8th, 2023

[Francis Drouin, Liberal, Glengarry—Prescott—Russell, ON]

Mr. Chair, respectfully, we haven't heard from the others, from Walmart and Costco and until we do so, to respect the witnesses, it's only fair that.... We've known this meeting was going to happen. We can call the witnesses back if we need to, but before I hear from Costco and Walmart, I think it's only fair to the witnesses that we agree to 1:15 because we do have a draft report to finish.

With respect to Mr. Singh, I respect the proposition that is being made, but we also have a committee report that we need to submit to the House before we get going.

[The Chair, Liberal, Kody Blois]

Unfortunately, that's not the case, Mr. Singh, but you can go ahead.

[Jagmeet Singh, NDP, Burnaby South, BC]

Thank you.

Mr. Weston, you mentioned you had a conversation with one person for 15 minutes. I have 2,000-plus people who have submitted questions. Will you undertake to respond to these questions?

[Galen G. Weston]

I'd certainly be delighted to have a look at them.

I get feedback, and I don't know if they're similar volumes—

[Jagmeet Singh, NDP, Burnaby South, BC]

I don't want you to just have a look at them. I want you to respond to them.

[Galen G. Weston]

I don't know if they are similar to the volumes of email that I get regularly inside Loblaw, and I respond to them on a case-by-case, person-by-person basis, so it's more than just one individual.

[Jagmeet Singh, NDP, Burnaby South, BC]

Sir, I am asking if you would respond to these questions I am going to table with this committee.

[Galen G. Weston]

I'd certainly be happy to take a look at them.

[Jagmeet Singh, NDP, Burnaby South, BC]

So you're not going to respond to the questions.

[Galen G. Weston]

No, I said I'd be happy to take a look at them and—

[Jagmeet Singh, NDP, Burnaby South, BC]

I didn't ask you to take a look at them, though. I said, “Will you respond to these questions?” It's an important question. If you're not going to, just say it. If you are, that's an important thing to hear.

[Galen G. Weston]

I would like to take a look at them and determine what the most appropriate form of response is.

[Jagmeet Singh, NDP, Burnaby South, BC]

Okay, so you're not committing to respond to them.

I would like to table these questions with the committee, Mr. Chair. I have them here.

[The Chair, Liberal, Kody Blois]

Okay. Thank you.

[Jagmeet Singh, NDP, Burnaby South, BC]

You mentioned that a company should be able to make a reasonable profit. Do you think a million dollars in excess profits a day is reasonable?

[Galen G. Weston]

It's a big number, especially if you multiply it over the course of 356 days, but the math is still the same.

The math is that on a very large sales base, that incremental profit represents about 13¢ on a $25 grocery basket.

I would just reiterate that the cost.... We're in unprecedented times. Global food price inflation grew 25 times faster than profits. That, to me, is a reasonable, fact-based proxy for an industry that is not taking advantage of inflation.

[Jagmeet Singh, NDP, Burnaby South, BC]

Just to understand you, you think a million dollars in excess profits—not normal profits, in excess profits—a day that your corporation is making with you as CEO is reasonable profit.

[Galen G. Weston]

I don't agree with your characterization of excess profits. I am giving you the facts, and—

[Jagmeet Singh, NDP, Burnaby South, BC]

It's not my characterization. It's the report from a professor.

[Galen G. Weston]

I disagree with the characterization of the report from the professor. The facts are as I described them.

[The Chair, Liberal, Kody Blois]

We're going to leave it at that, gentlemen. We're at time.

Mr. Singh, I was generous in giving you a few extra seconds to finish that thought.

Thank you, Mr. Weston.

Thank you, Mr. Singh.

We're going to turn to our final round of questioning. I am coming back to the Conservatives.

Mr. Steinley, it's over to you.

[Warren Steinley, Conservative, Regina—Lewvan, SK]

Thank you very much, Mr. Chair.

Thank you to our witnesses for being here.

I'm going to switch gears a little bit and talk about some of the things from a producer side.

I grew up on a dairy and beef farm and I look at what people are getting at the farm gate to what the prices are in stores. Most of you commented that input costs have gone up. Are you talking about input costs for producers that have gone up and thus you've had to pay more for goods?

Mr. Weston, you used that comment specifically, that fuel costs have gone up, input costs have gone up, energy costs have gone up and labour costs have gone up. Can you break that down?

[Galen G. Weston]

I think it was Mr. Medline who said that.

[Warren Steinley, Conservative, Regina—Lewvan, SK]

Yes, sorry.

Mr. Medline.

[Michael Medline]

Pretty well every single input cost you could have in business has risen over the last, I would say, 17 or 18 months—everything. I couldn't find anything that has gone down.

I'm just looking at the list from the last three years. Butter is up 59%. Corn oil is up 140%. Wheat is up 109%. Flour is up 63%. Turkey frozen is up 78%. Then you go to packaging. Tin is up 53%. Pulp is up 45%.

I'm not going to keep going on. Freight, fuel, labour, every input cost has gone up, sir.