Today’s delayed release of draft legislation to reform the Food & Grocery Code – more than three months after the government’s hand picked reviewer recommended it – shows that Labor has been distracted and divided on the cost of living.  

 

The panicked release of today’s draft legislation – which is unlikely to be legislated before the next election – is a clear demonstration of a government that is always on the backfoot.  

 

Australian families are paying the price for Labor’s failure on inflation and on competition policy. Since Labor came to office, prices have increased 10.2% and real wages have fallen by 3.3%.  

 

It is clear that the announcement of legal action against Coles and Woolworths by the ACCC should concern all Australian consumers. While it is important legal processes be allowed to run to their conclusion, the allegations if true are a damning indictment on a market sector that Australian families and farmers rely to act in good faith.   

 

In June, the Coalition announced a comprehensive package to deal with anti-competitive behaviour in the supermarket sector introducing:  

• a Supermarket Commissioner, who will act as an impartial confidential avenue for farmers and suppliers 

• infringement notices $2 million for contraventions of the code; and  

• divestiture powers to address serious allegations of land banking, anti-competitive discounting, and unfairly passing costs onto suppliers 

Shadow Treasurer Angus Taylor said the Albanese Labor Government has been missing in action when it comes to the cost of living.   

 

“Labor has lost control of inflation, lost control of the economy, and lost control of its own legislative agenda.  

 

“The Coalition has been calling for stronger competition laws in our supermarket sector since the election, yet Labor has failed to act - delaying the Food & Grocery Code review and having now failed to implement its recommendations after three months.    

 

The Coalition is committed to delivering competition policy which supports consumers and smaller businesses, not lobbyists and big corporations.”  

 

Leader of the Nationals David Littleproud said the announcement today by the Prime Minister was too little too late and that there are Australians tonight who won’t eat because this government has been too slow to act. 

 

“The proposed code changes don’t come into effect until April 2025 and don’t go far enough with infringement notice penalties of just $187,700 compared to the Coalition's $2 million. 

 

“The cost of living crisis is now not next year. 

 

“If this is the best the Prime Minister can do then he doesn’t understand the pain families and farmers are feeling now.” 

 

Shadow Assistant Minister for Competition Senator Dean Smith said only the Coalition has a genuine competition reform agenda.   

 

“Competitive markets benefit everyone by ensuring lower prices, creating more employment opportunities, and fostering innovation.   

 

“The Coalition's policy for stronger penalties for anti-competitive behaviour will align Australia with our major trading partners, ensuring Australians get a fairer go.”  

  

ENDS.