The Senate inquiry into supermarket prices has released its final report and 14 recommendations including powers to break up big supermarkets and a strengthened food and grocery code of conduct.
The Senate inquiry into supermarket prices was supposed to have wrapped up this week,but it is now gearing up to potentially put the likes of Nestlé and Coca-Cola through their paces.
The supermarket giant’s outgoing CEO refused to answer repeated questions about the company’s return on equity,which infuriated Greens senator Nick McKim.
Senators driving the inquiry into supermarket prices have slammed the hardware giant for its treatment of plant and flower suppliers and the absence of managing director Michael Schneider.
Australian retailers have turned their sights on global suppliers such as Nestle,Mars,Coca-Cola and Mars,which they say are driving up prices.
The boss of Metcash Food calls for even stronger merger laws,while Aldi Australia’s boss explains why it has no stores in Tasmania.
While Woolworths and Coles point the finger at the behaviour of other big retailers,it’s a brain twister as to how giving suppliers more help will benefit customers at the checkout.
The first of an array of inquiries aimed at promoting competition has arrived and raised hopes of an eventual check on checkout prices.
The review,led by Craig Emerson,recommended potentially huge fines and a mandatory code of conduct to ensure farmers get fairer prices and consumers receive greater savings.
Opposition backbenchers are putting pressure on Peter Dutton to live up to his repeated claim that the Coalition is now the party of the working classes.
The proposed powers – which are also backed by the Nationals – could be used to force Woolworths and Coles to sell assets if the supermarkets grow too big.