Coalition’s supermarket competition legislation would be ‘tougher than ever’
Leader of The Nationals David Littleproud said the Coalition’s supermarket competition legislation would be ‘tougher than ever’ starting with an infringement fine of $2 million for supermarkets who contravene the code and do the wrong thing.
The Nationals have long been calling for the Australian Competition and Consumer Commission (ACCC) to be given dramatically increased powers, including the ability to penalise individuals and organisations, as well as divestiture powers to break up supermarkets as a last resort amid a cost-of-living crisis.
It comes as Coles has announced a mega profit of $1.1 billion today, with revenue increasing to $43 billion.
“Coles’ profit only reinforces what the Coalition has been advocating for and our frustration that the major supermarkets have been given too much power,” Mr Littleproud said.
“We are not against profit but it shouldn’t be at the expense of families, suppliers and farmers. Small suppliers have been sent out the backdoor and taken for a ride.
“It beggars belief Prime Minister Anthony Albanese continues to ignore pleas to do more to help suppliers and families.
“For the Prime Minister to say we are trying to nationalise supermarkets with divestiture powers is completely false. It is similar to the divestiture powers he voted for in 2019 against the energy sectors.
“You have to ask the question, why the Prime Minister was prepared to stand up to energy company CEOs then, but now doesn’t have the courage to stand up to Woolworths and Coles, when there are some Australian families going without dinner tonight.”
Mr Littleproud said a minimum infringement penalty of $2 million would be the deterrent needed rather than a measly $187,800 proposed under Labor.
“We will increase penalties for breaches of the code and infringement notices, with a minimum flat rate of $2 million, scaling up to either $10 million, or three times the benefit gained or 10 per cent of annual turnover.
“We will also create a Supermarket Commissioner for farmers and suppliers to have their grievances heard and escalate issues with the ACCC or refer matters to a court to introduce sector-specific divestiture powers with safeguards as a last resort, and to manage supermarket behaviour and address supermarket price-gouging.
“This is part of the Coalition’s plan to get Australia’s economy back on track and stand up for small businesses, farmers and consumers by delivering stronger penalties for anti-competitive behaviour in Australia’s supermarket sector.
“This will give protection and transparency from the farm gate to your plate.”
