\n The reports saw a furious response from supermarkets, while the SNP accused Labour of mimicking their own policy \u2013 proposed by John Swinney during the Holyrood 2026 election campaign.<\/a>\n<\/p>\n \n One person close to a supermarket told the FT that the reported Treasury initiative was \u201ca rubbish, knee-jerk reaction to the SNP\u201d.\n<\/p>\n \n The UK Government\u2019s alleged price caps \u2013 which they have now denied \u2013 would be voluntary, the newspaper said.\n<\/p>\n \n Responding to the story on BBC Breakfast, Tomlinson, the Exchequer Secretary to the Treasury, said: \u201cThis rumoured story about caps on food prices I can be really clear with you this is not something that we\u2019re looking at.\u201d\n<\/p>\n \n However, a spokesperson for the Treasury said: \u201cThe Chancellor has been clear we want to do more to help keep costs down for families, and will set out more detail in due course.\u201d\n<\/p>\n \n \n On Tuesday, the SNP criticised the UK Government for considering the policy after criticising Swinney\u2019s own plans.\n<\/p>\n \n \u201cAfter weeks of launching bizarre attacks on the SNP for wanting to ensure a fair price for hard-pressed households, the Labour Government has been caught trying to do exactly the same thing,\u201d SNP MSP Alex Kerr said.\n<\/p>\n \n \u201cThey are in a complete mess.\n<\/p>\n \n READ MORE: Malcolm Offord skipped new MSP inductions but \u2018took the free lunches\u2019<\/a>\n<\/p>\n \n \u201cThis embarrassing revelation is typical of this Labour UK Government that is utterly distracted by infighting and chaos \u2013 the question is why did they oppose the SNP on this in the first place?\n<\/p>\nFirst Minister John Swinney has said supermarket price cap legislation will be brought in before the end of 2026 (Image: PA)\n<\/p>\n