The ACCC’s interim report on the supermarket sector has underlined the need for laws to stop price gouging and to break up the supermarket duopoly, the Greens say.
“For the ACC to describe the supermarket sector as an oligopoly just shows how easy it is for shoppers to be price gouged,” Greens Economic Justice Spokesperson Senator Nick McKim said.”
“The report has confirmed what Australian shoppers have known for years – Coles and Woolworths are using their dominant market position to price gouge shoppers and squeeze producers.”
“The report shows that their market concentration is more than two thirds and growing.”
Senator McKim also raised alarm over the revelation that the ACCC is having to obtain some data from supermarkets under compulsion.
“It’s outrageous that supermarket corporations are not fully cooperating with the ACCC.”
“Their arrogance knows no bounds. As if their massive profits based on price-gouging Australian shoppers is not enough, they think they can defy Australia’s corporate regulator as well.”
“We need price gouging laws and divestiture powers to break up the duopoly. These reforms would bring more competition to the market, lower grocery prices, and hold corporate giants accountable.”
“Now that the Opposition supports divestiture powers for the supermarket sector, Labor is alone in protecting the supermarket duopoly.”
“The Prime Minister is talking up a storm but his lack of action is keeping prices high for ordinary Australians.”
“Labor is in the pocket of big corporations. It’s time for them to stop protecting their corporate donors and start working with the Parliament to pass these badly needed reforms.”
