Andrew Bailey joins retail bosses in opposing the Chancellor’s ‘unsustainable’ plans Daily Telegraph 20/05/26 Andrew Bailey has warned Rachel Reeves against capping supermarket food prices. The governor of the Bank of England said freezing the price of essentials would be “unsustainable” and risked backfiring. The intervention comes after grocers were asked to cap how much they charge shoppers for staple items such as bread, eggs and milk amid growing alarm in Government about soaring prices. Addressing MPs on the Treasury select committee, Mr Bailey conceded that there could be reasons in the “short run” to control prices. However, he added: “I think the question you have to think through with this sort of thing is: are you doing it for some well-grounded, very temporary reason? “I think if you start doing it as a matter of course, then you’re effectively artificially moving prices relative to costs, and that’s not a sustainable thing in the long run.” Another official at the ...