The former boss of Sainsbury's has angrily lashed out at the idea of introducing price caps on supermarket products, branding it "nonsense" and insisting it would not benefit customers. The criticism from Justin King comes after reports the government was encouraging supermarkets to cap food prices.
Appearing on Mornings with Ridge and Frost on Sky News, Mr King said: "Price controls in the kind of marketplace that we live in are all nonsense. They haven't worked in this country. We really need to start being more candid about why inflation is what it is and what's causing it. Competition is what keeps prices honest, and this is a very competitive market, and we as consumers benefit hugely from that."
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