By Karl Hoerr -
The Australian Competition and Consumer Commission is being handed more money to tackle misleading and deceptive conduct among supermarkets and retailers.
Prime Minister Anthony Albanese says around $30 million in funding will allow the ACCC to conduct more investigations and enforcement.
Last week, the ACCC revealed it was taking Woolworths and Coles to the Federal Court, over allegations the supermarkets deceived customers through discount promotions, by increasing the prices of hundreds of items beforehand.
The government says it will also work with the states and territories to reform planning and zoning regulations, with the aim of boosting competition by opening up more sites for new stores.
It’s claimed the current rules are acting as a barrier to competition and potentially allow for land banking.
The new mandatory Food and Grocery Code is now open for consultation and supermarkets will be subject to multi-million-dollar penalties for serious breaches.
The government says it has also banned unfair contract terms and increased penalties for breaches of competition and consumer law.
Mr Albanese says the measures will target “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.”
Treasurer Jim Chalmers says Australians deserve fairer prices both 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.”
