Israel-Gaza War, Cost of Living

Economy Minister Barkat Threatens to Put Food Companies Raising Prices on Name-and-Shame "Black List"

Among his threats were possibly regulatory and antitrust moves as well as expedited legislation to deal with the rising cost of living.

Raising prices a "spit in the face of the consumer public." Economy MInister Barkat. (Photo: Yonatan Sindel/Flash90)

Economy Minister Nir Barkat sent a letter today (Wednesday) that he would put companies raising prices on a public "black list," where he would name and shame and also seek out other tools to punish companies who he said "spit in the face of the consumer public" if they did not stop the price increase, according to a report by Globes.

In the letter, Barkat said that "in this time, we would expect of you, voluntarily, to carry the weight, to shoulder the burden and help out. Solidarity is the life's blood of Israeli society and you are not exempt from it."

A source in the food industry told Globes that "the minister's conduct is more reminiscent of a price commissar in a communist economy than the hero of the free market. Instead of taking responsibility for the cost of living, which derives from many factors like a high VAT, needless regulation, and the like - he attacks private and public companies and contributes to an atmosphere of populism and incitement."

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