Who owns SuperValu? Don't ask Sinn Féin
It is perhaps most real when it comes to food prices. A pound of butter is €1.10 more expensive than a year ago, the
Central Statistics Office
said this week, for example, while two litres of milk costs 27 cent more than in June 2024.
Therefore, it was reasonable that the
Dáil
would hold a debate on supermarket profits this week.
These debates tend to follow a pattern, whatever the topic. Opposition deputies indignantly question Government policy and essentially ask what those in charge are 'going to do about it'. Government ministers reply that they are already doing lots of things to fix the problem. And so it goes.
READ MORE
Sinn Féin
finance spokesman
Pearse Doherty
can be an especially strong Dáil performer, and can be very convincing in whatever he is saying. Yet he and his party colleagues appear to have been poorly prepared for this debate, or at least poorly advised.
'The stock prices of supermarkets and the large retailers and food companies have been going through the roof,' he told the chamber. 'They have been skyrocketing in recent times. Tesco's stock is up 30 per cent in the last year. United Natural Foods Inc., the owners of
SuperValu
, saw its stock price rise by 60 per cent in the last year.'
Sinn Féin's Máire Devine followed soon after, noting an increase in 'SuperValu's stock by nearly 61 per cent.'
Paul Donnelly
, another Sinn Féin TD – notice a pattern here – later told the Dáil that 'United Natural Foods, owners of SuperValu, reported a turnover exceeding €5 billion for the first time, with profits of €104 million'.
There's just one problem here. The SuperValu owned by United Natural Foods is a US supermarket chain that is not connected at all with SuperValu in Ireland. The Irish chain is owned by Cork-based
Musgrave
.
This is basic stuff. Google 'supervalu owner' and the correct answer is clear.
As anyone in media knows, getting one fact wrong can discredit an entire story. The same can be said for politics. Whatever the validity of the overall point Doherty, Devine or Donnelly were making, they showed that, at best, they weren't read up on what they were talking about.
The price of food is a serious topic, it deserves to be taken seriously. Or, at the very least, be subject to a Google search.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Irish Times
an hour ago
- Irish Times
The Irish Times view on Trump and Ukraine: a step in the right direction
Reflecting his 'disappointment' with Russian leader Vladimir Putin, US president Donald Trump has thrown his weight behind Ukraine with a commitment of 'billions' of dollars of US weapons that he said Europe would pay for. He also pledged to impose 'secondary' sanctions of 100 per cent on countries that bought Russian oil and gas, unless Putin agrees to a ceasefire within 50 days. Trump's about-turn on Russia was welcomed effusively by Nato secretary general Mark Rutte at a meeting in the White House on Monday. Rutte said it was 'completely logical' for Europe to pick up the tab for the weapons, including Patriot air defence missile systems, unspecified long-range missiles and munitions, much of which would be supplied quickly from European stocks and then replenished by the US. Trump's commitment to new sanctions on Russia and those trading with it echo provisions in a bipartisan bill before Congress. His insistence that the US will not pay for the weapons will do much to quieten the vocal opposition within his Maga movement to any direct US engagement in the war – and also provide a huge business opportunity for the country's defence industry. The Patriot systems are crucial to Ukraine's air defences against Russia's increasing use of hypersonic ballistic missiles in attacks on Kyiv and other cities. Long-range missiles will give the Ukrainians an enhanced ability to strike weapons factories and storage facilities deep inside Russia. READ MORE In recent weeks, Trump has grown increasingly frustrated with his Russian counterpart over the lack of progress on a ceasefire, which he had promised to broker during his presidential campaign. Exasperated with the Russian president's continued refusal to contemplate an unconditional ceasefire and the escalation of Russian bombing, he told reporters last week that it was necessary to bolster Ukraine's defences and resumed the delivery of US weapons to the country that had been temporarily paused. 'Putin really surprised a lot of people,' the US president said, explaining his volte face. But the only one surprised by his intransigence was Trump himself – although no-one yesterday was going to point that out. Praise for his wisdom and enlightened insight was the order of the day from the Nato chief, who listened straight-faced as Trump boasted of his diplomatic achievements. Europeans and other western allies will take comfort from the reality that Trump's new policy appears to return the US to the common front against Russia that Joe Biden had forged, and to the US traditional commitment to Nato. Although Trump has yet to recognise the justice of Ukraine's demand for the full restoration of its territory and seems to be motivated, in part at least, by pique over Putin's tactics, this latest move is an important step in the right direction.
The Irish Sun
an hour ago
- The Irish Sun
All-Ireland or all-inclusive? Grim reality of 2-night Dublin stay vs 4-star sun hol laid bare in ‘blatant gouging' alert
DUBLIN's hospitality industry has been slammed for sky-high hotel, food, and drink prices, with a seven-night all-inclusive package in Turkey or Spain now costing less than a two-night stay in the capital. Thousands of hurling fans from Advertisement 4 Croke Park will host two huge All-Ireland finals in the coming weeks 4 Dublin's hospitality industry has been slammed for skyrocketing prices Credit: Getty Images - Getty 4 A trip to Antalya in Turkey could be cheaper than a 2-night stay in Dublin city Hotel rooms in Research has found that an all-inclusive week in the sun will cost roughly the same - or even less - than what Advertisement He told 'And every summer, the Government watches on, tut-tuts, and then does absolutely nothing to ensure that we're not here again in a year's time. 'Whether it's people travelling from Donegal, Kerry, Cork or Tipp for All-Ireland final weekends or people travelling to Dublin for 'This is an industry that was heavily supported by the taxpayer, especially during the Advertisement A study by My holiday at TUI Magic Life Beldibi All-inclusive deals to the Costa Brava in The research is based on it costing €300 per person for a hotel in Dublin city centre over the two weekends. SKYROCKETING PRICES Add to that an average of €115 per person for two light lunches and two evening meals, a €60 per person drinks kitty, €55 per person for transport by car (including tolls and city parking), and a €100 match ticket bringing the total to €630 per person. Zoe Harris, Chief Customer Officer at On the Beach, said: 'With hotel prices in Dublin skyrocketing for the All-Ireland weekend, it's no surprise fans are tempted by alternative options. Advertisement 'When you can swap a packed Luas, long queues and steep city costs for seven nights of sun, sea, and all-inclusive relaxation at a lower price, it becomes a very easy decision. 'We've seen a real appetite this summer for all-inclusive escapes, and GAA fans don't have to miss a minute of the action, with many Irish bars across Europe showing every kick, point and goal.' EXTRA DEMAND PRESSURE Research by the Irish Sun has found that there is little difference in hotel prices in Dublin between the two All-Ireland weekends and on separate weekends in August and sky-high hotel prices in the capital have just become the norm all-year round. "This feels like Groundhog Day. Here we go again – every summer, the issue of hotels price gouging and ripping off tourists raises its head." Pearse Doherty A report last year by Failte Ireland found no evidence of price gouging during big events in Dublin, with cities around Europe exhibiting similar pricing patterns. They found: 'Many hotel markets, including Dublin's, simply struggle to facilitate the extra demand pressure that comes with large-scale events.' Advertisement It noted that during the DUBLIN 'NOT ATYPICAL' On the same night the following week, occupancy was down to 83 per cent and the average daily rate was €200. The report said: 'Dublin is not atypical in this regard. For many hotel markets, including that of Dublin, available hotel stock cannot facilitate the extra demand pressure that comes with an event of such magnitude.' Dynamic or 'surge' pricing — when rates are adjusted to reflect market conditions including supply and demand, the cost of production and competition — was first discovered in the airline sector, but is commonly used in accommodation. 'When you can swap a packed Luas, long queues and steep city costs for seven nights of sun, sea, and all-inclusive relaxation at a lower price, it becomes a very easy decision." Zoe Harris Chief Customer Officer at On the Beach It has since now moved into concert ticket market after Advertisement Hotel rates often quoted in the media, as the Failte Ireland report stated, are usually for those booked at short notice amid exceptionally high demand. It said: 'While the pricing of the last remaining rooms can be headline-grabbing, the vast majority of rooms are cheaper.' 4 A report last year by Failte Ireland found no evidence of price gouging during big events in Dublin Credit: PA:Press Association
Irish Times
an hour ago
- Irish Times
The Irish Times view on the State's national debt: essential to recognise the risks
The National Treasury Management Agency (NTMA) has been the subject of some unfortunate headlines in recent days, following the payment of some €5 million to a bogus account from one of its subsidiaries, the Irish Strategic Investment Fund. It goes without saying that the decisions and systems which allowed this to happen must be investigated and all efforts made to get the money back. There is a message here, too, for the public about the increasing sophistication of financial scams. The revelation came as the NTMA published its 2024 annual report and its headline results for the first half of this year. Here, the news is broadly positive. While Ireland's national debt is still high in cash terms – at around €218 billion at the end of last year – it has fallen as a share of national income. Also, the cost of servicing the debt remains at a relatively modest €3.2 billion each year and is unlikely to increase much in the near future. This reflects a limited amount of fund-raising by the State in recent years due to the strong state of the public finances and also the fact that much of the debt is locked in for a significant period of time at fixed interest rates. So far in 2025, the NTMA has issued €5.25 billion in new borrowings – up to recently the running total at this stage of the year would typically have been twice that amount. The NTMA deserves credit for its management of the national finances and particularly for locking in as much as possible of State borrowings during the period of exceptionally low international interest rates. READ MORE It also has €30 billion in cash reserves to call on, enough to act as a safeguard if trouble hits. This cash could help the State through a temporary period of difficulties. However, as we saw after 2008, structural changes in the public finances –in particular permanent alterations in tax trends – still require money to be found elsewhere. Here, the obvious risk for Ireland is a fall-off in corporate tax revenues. The strength of the public finances and the cash pile in the NTMA coffers give Ireland time to reduce its exposure to this risk. But it does not remove it.
