The Times hasn't really got the story. For example a 100ml tube of Colgate toothpaste cost 29p at Shopper's Drug Mart here in Canada, an identical item cost 98p in Waitrose on a recent trip to Sussex, England. Needless to say I didn't buy any toothpaste, or much of anything else, in the UK. It is not called "Treasure Island" for nothing.
See also for the great croissant scandal.
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