ACCC receives additional $30 million to target supermarkets in new crackdown — ‘We’re taking decisive action to help Australians get fairer prices at the supermarket checkout, in stores and online’
ACCC receives additional $30 million to target supermarkets in new crackdown — ‘We’re taking decisive action to help Australians get fairer prices at the supermarket checkout, in stores and online’
*The Albanese Government will give the consumer watchdog an additional $30 million to crack down on misleading and deceptive pricing practices and unconscionable conduct in the supermarket and retail sector.*
*The funding will help the Australian Competition and Consumer Commission (ACCC) conduct more investigations, enforcement, and monitoring.*
*[…] A damning interim report handed down by the ACCC last week revealed Australia’s two dominant grocery chains, Woolworths and Coles, have interests in more than 150 unrealised development sites.*
*The ACCC is now investigating whether the practice known as “land banking” is hurting competition in the sector, as prime sites are prised away from rivals.*
*[…] The government has so far resisted calls from the Coalition and Greens to introduce divestiture laws, powers that could be used to sell off stores to rivals to generate more competition. The government says such laws would risk investment in Australia.*
*“We’re taking decisive action to help Australians get fairer prices at the supermarket checkout, in stores and online,” Treasurer Jim Chalmers said.*
*“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.”*
QLDZDR on
Why does ACCC need to receive an extra $30 million, the government should let ACCC bank the fines it collects and use that money to go after the bad guys.
2 Comments
Excerpts from [article](https://7news.com.au/news/accc-receives-additional-30-million-to-target-supermarkets-in-new-crackdown-c-16233909) by Josh Martin, re. [joint statement](https://www.pm.gov.au/media/helping-australians-get-fairer-supermarket-prices-through-stronger-protections-and-greater):
*The Albanese Government will give the consumer watchdog an additional $30 million to crack down on misleading and deceptive pricing practices and unconscionable conduct in the supermarket and retail sector.*
*The funding will help the Australian Competition and Consumer Commission (ACCC) conduct more investigations, enforcement, and monitoring.*
*[…] A damning interim report handed down by the ACCC last week revealed Australia’s two dominant grocery chains, Woolworths and Coles, have interests in more than 150 unrealised development sites.*
*The ACCC is now investigating whether the practice known as “land banking” is hurting competition in the sector, as prime sites are prised away from rivals.*
*[…] The government has so far resisted calls from the Coalition and Greens to introduce divestiture laws, powers that could be used to sell off stores to rivals to generate more competition. The government says such laws would risk investment in Australia.*
*“We’re taking decisive action to help Australians get fairer prices at the supermarket checkout, in stores and online,” Treasurer Jim Chalmers said.*
*“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.”*
Why does ACCC need to receive an extra $30 million, the government should let ACCC bank the fines it collects and use that money to go after the bad guys.