A House of Commons committee is suggesting that a new tax on excess profits for grocers should be considered by Parliament, even though Canada’s grocery CEOs deny profiting from inflated food costs in the past year. The committee’s report, titled “Grocery Affordability: Examining Rising Food Costs in Canada,” recommends waiting for the Competition Bureau of Canada’s upcoming market study to see if there’s evidence that “large grocery chains are generating excess profits on food items.” The committee suggests implementing a “windfall profits tax on large, price-setting corporations to disincentivize excess hikes in their profit margins for these items” if the bureau confirms this. However, the scope of this prospective windfall tax hasn’t been outlined. Canadian grocers have denied profiting from inflated food prices during recent committee testimonies, saying their profit margins haven’t increased despite higher grocery prices. Different CEO’s of companies like Loblaw, Sobeys, and Walmart Canada have testified on this matter. Despite this, some politicians like the NDP leader Jagmeet Singh have maintained that grocery giants are posting “record profits” from the inflated cost of food, something he has called “greedflation,” and has called on the federal government to “tax the excess profits.”