Greens Push to Cut Grocery Costs, Ban Price Gouging
Making price gouging illegal by the middle of this year will be a priority for the Greens in the coming minority Parliament, with the Greens today putting the big supermarkets on notice and releasing a bold new election policy.
Price gouging would be illegal with a tough new corporate watchdog to monitor illegal rorting in the major supermarkets, under a new Greens plan to push down the cost of living and make groceries more affordable.
The proposal by the Greens would also create a Prices Commission (PsC) to monitor for price gouging in supermarkets and across the economy, with corporations foolish enough to illegally jack up prices subject to massive fines or being broken up. The Commission would start 1 July 2025.
With the ACCC chief confirming they continue to be concerned about supermarket pricing practices, the PsC could make referrals to the existing competition watchdog, which would also be strengthened with additional resourcing.
A recent Freshwater poll found that the price of groceries topped people’s cost of living concerns, alongside rent and power bills, with 70% of respondents listing the cost of living among their top three issues deciding their vote.
The Government has been sitting on the findings of the long-awaited inquiry into Supermarket pricing practices since the final report was handed down by the ACCC last week. The Greens say the government must release these findings.
Key elements of the Greens’ proposal to end supermarket price gouging include:
As stated by Leader of the Australian Greens, Adam Bandt MP:
“The Greens will make price gouging illegal,” Mr Bandt said.
“In a wealthy country like ours everyone should be able to afford the basics, but people are getting smashed at the checkout.
“People are worried about rising grocery prices and the soaring cost of living, but governments aren’t acting. When it comes to the big supermarkets, Labor and Liberal take their donations but the Greens take them on.
“Experts predict a minority government this election. The Greens will keep Peter Dutton out and get Labor to make price gouging illegal.”
As stated by Greens Economic Justice spokesperson, Senator Nick McKim:
“The Greens will save you money by taking on the supermarket giants robbing you at the till, while Labor says to shop around and hope for the best,” Senator McKim said.
“We don’t take political donations from the supermarket duopoly. Instead we’ll take them on and deliver lower food and grocery prices.
“These supermarket giants have been making massive profits, ripping off their workers, and making you pay more. We need to ban the anti-competitive schemes that have allowed them to get so big and kill off the competition.
“Anger is growing at the massive corporations who are price gouging and pushing up the price of living.
“The competition watchdog is suing Coles and Woolworths over dodgy deals that allegedly didn’t exist, workers are pushing back against unfair pay and conditions, and farmers are calling out unfair returns.
“Labor and Liberal are sitting on their hands while shoppers around the country suffer from soaring grocery prices and rising bills, but the Greens are willing to take these big corporations on.”
https://greens.org.au/news/media-release/greens-make-groceries-affordable-ban-supermarket-price-gouging