Despite Anthony Albanese ruling out any move to break up the big grocery chains, the Greens want the competition watchdog to get new divestiture powers.
The peak advocacy group for Australia’s $420 billion retail sector says claims Coles and Woolworths are price gouging consumers and sending suppliers to the wall are wrong, and that growth in sales and costs have outstripped profits in the past five years.
The association said the supermarket sector was not becoming less competitive, pointing to new entrants in the market including Aldi and Australian Bureau of Statistics data showing food retailing operating margins have reduced from 7.2 per cent in 2008, to 4.8 per cent in 2022. “This isn’t a controversial or radical proposition. The UK has this power, and the US has been using it for well over a century,” Senator McKim said.
Asked if the opposition would support the push, shadow treasurer Angus Taylor said only that the Coalition would “consider all recommendations of the select committee”.
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