In a bid to restore fairness to the Australian food and grocery industry, the Coalition has introduced a suite of legislative measures.

The Food and Grocery (Mandatory) Code of Conduct Bill 2024 would compel supermarkets with annual turnover exceeding $5 billion to abide by a strict code of conduct. The legislation also proposes significant penalties for breaches, empowering the ACCC to conduct audits of supermarkets.

To further strengthen regulatory oversight, the Coalition intends to establish a dedicated Supermarket Commissioner. Additionally, the Consumer Competition Amendment (Tougher Penalties for Supermarket and Hardware Businesses) Bill 2024 aims to equip the ACCC with sector-specific divestiture powers, enabling it to address anti-competitive practices more effectively.

"For too long, the big supermarkets have been taking advantage of consumers and farmers, so this Bill will ensure everyone gets a fairer go with stronger penalties for anti-competitive behaviour. Competitive markets benefit everyone by ensuring lower prices, creating more employment opportunities and fostering innovation." Says Federal Member for Parkes, Mark Coulton.