Amidst rising concerns, Iceland calls for regulatory changes on infant formula pricing and promotions.
- Current legislation restricts the promotion of price reductions on infant formula and forbids purchases with various vouchers.
- Iceland aims to support parents during the cost-of-living crisis by advocating for these legislative changes.
- Healthy Start vouchers are also under scrutiny as their current value does not align with recent price rises.
- Research shows a significant portion of parents are anxious about affording baby food, prompting this campaign.
Iceland is advocating for urgent modifications to existing regulations that limit price promotions on infant formula. The current restrictions prohibit retailers from offering discounts or accepting loyalty points, store gift cards, or food bank vouchers for the purchase of these products.
The retailer argues that these legal constraints not only hinder their ability to offer financial relief to families but also complicate stock clearance of formula approaching its expiry date. Given the financial challenges many households face today, Iceland seeks to extend its support by revising such prohibitive measures.
Another aspect under review is the value of Healthy Start vouchers, which presently offer £8.50 weekly for babies up to one year old. Iceland contends that this amount is insufficient in light of recent price increases and is urging a reassessment of these vouchers to better meet consumers’ needs.
As part of its commitment, Iceland has already reduced the price of infant, follow-on, and toddler milk by over 20%. This reduction forms part of a substantial £26 million annual investment aimed at keeping baby milk prices low.
Richard Walker, Iceland Foods executive chairman, emphasised, “The benefits of breast feeding versus using infant formula are not up for debate: this is about supporting the choices of UK parents as they navigate the cost-of-living crisis.” Walker further expressed that the government should facilitate such efforts to enable retailers to assist families without facing regulatory repercussions.
Iceland’s campaign highlights the pressing need for regulatory adjustments to better support families amidst economic challenges.
