The Albanese Labor Government is taking decisive steps to ensure Australians get fairer prices at the supermarket checkout, both in stores and online, in an effort to alleviate cost-of-living pressures.
Supermarket and retail misconduct, particularly misleading pricing practices, is being targeted in a bid to protect consumers from unfair behaviour that worsens financial strain.
Prime Minister Anthony Albanese reaffirmed the Government’s stance, stating,
“Today we are announcing a crackdown on dodgy supermarket practices. Australians deserve a fair go at the checkout, and we are making sure they get it.”
Prime Minister Albanese has further announced a significant increase in funding to the Australian Competition & Consumer Commission (ACCC), with an additional $30 million allocated to support investigations and enforcement in the supermarket and retail sectors. This funding will bolster the ACCC’s ability to monitor and crack down on deceptive pricing and unconscionable conduct.
“We don’t want to see ordinary Australians, families, and pensioners being taken for a ride by supermarkets,” Mr Albanese stated.
“We’re taking steps to make sure they get a fair go at the checkout.”
The move follows the ACCC’s recent legal action against supermarket giants Coles and Woolworths for allegedly misleading customers with discount pricing claims on hundreds of everyday products. The increased funding will allow the regulator to further investigate retailers accused of falsely justifying higher prices, ensuring pricing transparency across the sector.
Treasurer Jim Chalmers reiterated the Government’s commitment to protecting consumers, saying, “More funding for the ACCC will help to make pricing fair, boost competition, and make sure there are significant consequences for supermarkets that do the wrong thing.”
In addition to the ACCC crackdown, the Treasurer will work with state and territory governments through the Council on Federal Financial Relations to reform planning and zoning regulations.
These reforms are aimed at improving competition by opening more sites for new stores, overcoming current barriers that inhibit business expansion and contribute to rising prices through land banking.
These announcements come alongside a series of recent Government actions aimed at strengthening consumer protections. Last week, the Government launched consultations on a new mandatory Food and Grocery Code, which will see major supermarkets including Aldi, Coles, Woolworths, and Metcash face multi-million-dollar penalties for serious breaches.
Further supporting consumers, CHOICE has released its second price monitoring report, funded by the Albanese Government, providing accurate data on where Australians can find the cheapest groceries.
The Government has also introduced reforms to ban unfair contract terms, increased penalties for breaches of consumer law, and is overseeing the most significant merger reforms in Australia in almost 50 years. Additionally, it is working with states and territories to revitalise National Competition Policy.
The next phase of the ACCC’s Supermarkets Inquiry will include public hearings with supermarket representatives later this year, giving consumers a voice in the regulatory process.
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