Misbehaving supermarkets could face hefty fines that run into the billions should new recommendations of an interim food and grocery review be adopted.
The current settings have been lashed as “not effective” by review chair Craig Emerson, who is recommending a voluntary code be made mandatory alongside big penalties for supermarkets with annual revenues exceeding $5bn.
But Australians being hit hard at the checkout will have to wait until later in the year to find out whether the recommendations will
be adopted by Treasurer Jim Chalmers.
“We want a fair go for families and a fair go for farmers,” Dr Chalmers said in a statement.
“This work is all about making our supermarkets as competitive as they can be so Australians get the best prices possible.”
Dr Emerson, a Labor former competition minister, was tasked to lead the government review into the food and grocery code – a ...
[Short citation of 8% of the original article]