Coalition introduces plan for family and farmer fairness at the supermarket

The Coalition is standing up for Australian small businesses, farmers and consumers by delivering stronger penalties for anti-competitive behaviour in the supermarket and hardware sectors.

Today, the Coalition is introducing the Food and Grocery (Mandatory) Code of Conduct Bill 2024. The Private Members’ Bill will restore fairness for consumers, families, suppliers and farmers.

The Coalition’s plan will;

• Make the Food and Grocery Code of Conduct mandatory for supermarkets with an annual turnover of at least $5 billion.
• Have high penalties for breaches of the Code – the greater of $10 million; three times the value of the benefit obtained from a contravention; or, where the court can’t determine the benefit from a contravention, 10 per cent of annual turnover.
• Enable infringement penalties of $2 million.
• Give the Australian Competition and Consumer Commission (ACCC) powers to undertake audits of supermarkets to ensure the supermarkets are compliant with the Code.
• Create a Supermarket Commissioner to act as a confidential avenue for farmers and suppliers to address the fear of retribution.
• Also introduce the Consumer Competition Amendment (Tougher Penalties for Supermarket and Hardware Businesses) Bill 2024 to establish sector-specific divestiture powers – in the hands of the ACCC and the courts, not politicians – as a last resort to address the behaviour of supermarkets and to put an end to instances of price-gouging. Divestiture powers will come with appropriate public interest safeguards.

The Coalition is committed to delivering competition policy which supports consumers and smaller businesses – not the big corporations and lobbyists. Competitive markets benefit everyone by ensuring lower prices, creating more employment opportunities, and fostering innovation.

Labor has completely failed on competition policy, just like it has failed to tackle its homegrown inflation.

Labor promised life would be easier under the Albanese government. Instead, families are suffering an entrenched recession.

Since the election, food prices have gone up by 12 per cent.

Families are being forced to make tough decisions about what they can and can’t afford.

This is the consequence of a Labor government that is out of its depth and out of touch.

Labor’s bad economic management has left Australia at the back of the pack in dealing with inflation.

The latest quarterly CPI data shows inflation is still persistently high and homegrown.

The Coalition has listened to the concerns of consumers and the agriculture sector, and we are taking action.

Our Bill will align Australia with our major trading partners, ensuring Australians get a fairer go.

This is part of the Coalition’s plan to get Australia’s economy back on track.