The Labor Government has announced an additional $30 million for the ACCC to conduct more investigations in the supermarket and retail sector.
The funding boost, spread over three and a half years, will enhance the watchdog’s ability to proactively monitor behaviour and investigate pricing practices where there are concerns about supermarkets and retailers falsely justifying higher prices.
Prime Minister Anthony Albanese said it was a crackdown on dodgy supermarket practices.
“We don’t want to see ordinary Australians, families and pensioners being taken for a ride by the supermarkets, and we’re taking steps to make sure they get a fair go at the checkout.”
Gina Cass-Gottlieb, Chair of the ACCC, said the additional resources would allow for a significant enhancement of the ACCC’s enforcement and compliance activities in an essential sector relied upon by millions of Australian consumers.
“Active, evidence-based enforcement of the Competition and Consumer Act is core to the ACCC’s work, and is essential for deterring conduct that harms consumers, competition and fair trading, and by extension productivity and the wider economy.
“This funding will enable us to escalate a range of investigations in this sector, including in relation to potential misleading pricing claims or practices, claims about delivery timeframes and costs including for regional and remote Australians, and businesses misrepresenting consumers’ rights under the Australian Consumer Law.”
In addition to this crackdown, the Treasurer Jim Chalmers will work closely with states and territories through the Council on Federal Financial Relations to reform planning and zoning regulations, which will help boost competition in the supermarket sector by opening up more sites for new stores.
“We’re taking decisive action to help Australians get fairer prices at the supermarket checkout, in stores and online.
“More funding for the ACCC will help to make pricing fair, boost competition, and make sure that there are significant consequences for supermarkets who do the wrong thing,” said Chalmers.
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