We absolutely will sign the code. We have always said that we would sign the code. We just need to sign a code that doesn't increase the risk of higher food prices to Canadians. As the code is currently drafted, our strong conviction is that it will do so.
As I mentioned before, the code was set up with the intent of improving the relationship between manufacturers and retailers. It was never designed to lower food prices. We're in a very different circumstance right now, in which food prices have been increasing across the board.
This idea that grocers are the problem, I think, is part of what has shifted the dialogue into somewhat the wrong place. I have a list here of manufacturers, all of whom have claimed that price increases have been the driver of their excellent performance over the last 12 months. That includes Pepsi in their quarterly results, Nestlé in their quarterly results, Kraft Heinz in their quarterly results, Procter & Gamble, and the list goes on. These are large multinational manufacturers, and the code of conduct has a set of clauses in it that reduces the grocers' ability to negotiate hard against those vendors.
We were able to push back on 18% of what we considered to be unjustified cost increases across the industry last year. Based on the way the code is drafted today, we will be severely restricted in terms of our ability to do that.
It's very plain to see that, in that circumstance specifically, it will lead to higher cost increases for manufacturers and that will lead to higher prices for consumers.