Baby formula companies ‘exploiting vulnerable British families’
The World Health Organisation (WHO) has told Sky News that manufacturers of baby formula are exploiting struggling British families in order to boost profits for shareholders.
Rocketing prices
Over the past two year, UK prices for baby formula have increased by 24%, with the cheapest brand shooting up by 45%.
Desperate measures
In May, Sky reported on the desperate lengths parents were going to in order to feed their babies, including stealing formula, watering down bottles, switching formula for condensed milk and buying on the black market.
It was also reported that baby banks (similar to foodbanks) were having to ration formula because they don’t have enough for all who need it.
Shocking
Lawrence Grummr-Strawn from WHO said:
“It is shocking to be seeing a high-income country like the UK facing these kinds of problems where mothers can’t afford to feed their babies.”
Exploiting the vulnerable
He added the companies concerned have “huge profit margins” and parents are “in a very vulnerable situation that they have infants that need to be fed and there aren’t many alternatives out there”.
Changing investor behaviour
Grummer-Strawn explained WHO is trying to get investors to consider the ethics of the companies they give money to.
Call for government intervention
He also called on the government to intervene:
“We really need government action to address either on the price end or in ways to help those families directly.”
Rebecca Routledge
A qualified journalist for over 15 years with a background in financial services. Rebecca is Money Wellness’s consumer champion, helping you improve your financial wellbeing by providing information on everything from income maximisation to budgeting and saving tips.
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