The Greens welcome the findings of the comprehensive report led by Professor Allan Fels AO on the disturbing practices of price gouging and unfair pricing within Australia’s major industries, including the supermarket sector.
“The findings of Professor Fels’ report are a testament to the urgent need for reform within our supermarket industry and beyond,” Greens Economic Justice spokesperson Senator Nick McKim said.
“It confirms what many Australians have long suspected – that excessive corporate profits and monopolistic practices are contributing significantly to the cost of living crisis and undermining our social fabric.”
“Professor Fels was clear that there is a lack of competitive pressure in the supermarket sector and that Australia needs divestiture laws to break up big business.”
“The Greens could not agree more.”
“There is no doubt that corporate profiteering is occurring in Australia. A corporate super-profits tax would help rein it in and provide extra revenue for the government to help people struggling to make ends meet.”
“The upcoming Senate inquiry into these matters will be a pivotal moment for supermarket CEOs to face public scrutiny.”
“We intend to examine into the issues highlighted by Professor Fels, ensuring that the CEOs of these corporations answer for their actions.”
“We thank the ACTU and Professor Fels for this important report.”
