Head of Lifestyle Economics at the free market think tank the Institute of Economics Affairs, Christopher Snowdon, commented on the government's decision to continue pursuing its ban on supermarket ‘buy one get one free' offers
“The government's own impact assessment predicts that banning these deals will reduce calorie consumption by the equivalent of one grape a day.
“When Public Health England looked at it in 2015, they concluded that it could cost households £634 a year and that consumers use these offers as a ‘coping mechanism' during periods of high inflation. Repealing this policy at a time when food inflation is nearly 20 per cent has to be the biggest no-brainer in British politics today.”
Notes to Editors
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Public Health England in its own words:
“Based on the breadth and depth of promotions we can calculate a ‘giveaway' figure which equates to a 16% or approximately £634 reduction on a typical household's annual, take home food and drink bill.” - Public Health England
“… during the high inflationary period of 2008-2010, promotions were a useful coping strategy for shoppers to manage the worst effects of food and drink inflation. During this period as food and drink became relatively more expensive, behavioural data shows that many shoppers increasingly selected items offered on promotion to help them save money.” - Public Health England
“… if people bought the same quantity of food and drink with no promotions they would need to spend an additional £634 for the same items.” - Public Health England
The mission of the Institute of Economic Affairs is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems. The IEA is a registered educational charity and independent of all political parties.