We have read how certain local businesses are not feeling the grip of the Great Reset and high cost-of-living crisis and this boils down to various reasons. How are they profiteering? In Malta, cheap labour by employing foreigners, of whom the majority are third country nationals, is one of the main reasons.
In the meantime, prices continue to be hiked. Local media portals have reported that “Malta Dairy Products Ltd. has just announced that, effective Friday 22nd December, local fresh milk produced by Benna is set to increase by 15 cents.” Isn’t the Maltese government subsidizing the energy costs so I am sure Benna is not getting higher electricity and water bills. Isn’t the government subsidizing the animal feed? In fact, Malta Today has reported that the government is at loggerheads with MDP and that the disagreement could lead to the government pulling out of MDP altogether, since it holds a 30% minority stake.
Can MDP explain in detail what costs have increased so making it jack up the price of Benna fresh milk by more than 20% since May since it receives government subsidies on animal feeds and electricity?
Now it happened that according to a report from the IPPR and Common Wealth thinktanks, “business profits rose by 30% among UK-listed firms, driven by just 11% of firms that made super-profits based on their ability to push through stellar price increased” – which was dubbed greedflation.
“Analysis of the financial accounts of many of the UK’s biggest businesses found that profits far outpaced increases in costs, helping to push up inflation last year to levels not seen since the early 1980s. Excessive profits were even larger in the US, where many important sections of the economy are dominated by a few powerful companies.”
It looks that these accounts are telling the story.
What is greedflation?
It is how large firms are using crises as cover to push up their profits. Businesses are exploiting the pandemic and the Ukraine war to drive their profits higher.
Is this what we are witnessing with some businesses, including those which are expanding and those like MDP which are hiking prices?
Are some local Maltese companies and businesses guilty of greedflation?
We have read how certain local businesses are not feeling the grip of the Great Reset and high cost-of-living crisis and this boils down to various reasons. How are they profiteering? In Malta, cheap labour by employing foreigners, of whom the majority are third country nationals, is one of the main reasons.
In the meantime, prices continue to be hiked. Local media portals have reported that “Malta Dairy Products Ltd. has just announced that, effective Friday 22nd December, local fresh milk produced by Benna is set to increase by 15 cents.” Isn’t the Maltese government subsidizing the energy costs so I am sure Benna is not getting higher electricity and water bills. Isn’t the government subsidizing the animal feed? In fact, Malta Today has reported that the government is at loggerheads with MDP and that the disagreement could lead to the government pulling out of MDP altogether, since it holds a 30% minority stake.
Can MDP explain in detail what costs have increased so making it jack up the price of Benna fresh milk by more than 20% since May since it receives government subsidies on animal feeds and electricity?
Now it happened that according to a report from the IPPR and Common Wealth thinktanks, “business profits rose by 30% among UK-listed firms, driven by just 11% of firms that made super-profits based on their ability to push through stellar price increased” – which was dubbed greedflation.
“Analysis of the financial accounts of many of the UK’s biggest businesses found that profits far outpaced increases in costs, helping to push up inflation last year to levels not seen since the early 1980s. Excessive profits were even larger in the US, where many important sections of the economy are dominated by a few powerful companies.”
It looks that these accounts are telling the story.
What is greedflation?
It is how large firms are using crises as cover to push up their profits. Businesses are exploiting the pandemic and the Ukraine war to drive their profits higher.
Is this what we are witnessing with some businesses, including those which are expanding and those like MDP which are hiking prices?
I let the readers come up with their judgment.