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Follow the day’s news liveGet our morning and afternoon news emails, free app or daily news podcastPM ‘absolutely’ confident supermarket review will reduce prices for consumersThe prime minister, Anthony Albanese, is speaking to ABC News Radio, also weighing in on Craig Emerson’s supermarket review.Including the Senate review … we’ve already announced our funding of Choice, the consumer organisation, to do quarterly price monitoring, ensuring that consumers know where the best deal is available and using that use of information to drive that competition through the system.We’ve only got a few supermarkets in Australia and it does concentrate a lot of market power in the hands of the retailers, [so] heavy fines might be the way to go. I certainly wouldn’t stand in the way of that.And I know many people, particularly in one of the richest cities in the world in Sydney, are doing it incredibly tough when you’ve got the dual hits of both interest rate rises and high inflation. Continue reading...
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PM ‘absolutely’ confident supermarket review will reduce prices for consumers
The prime minister, Anthony Albanese, is speaking to ABC News Radio, also weighing in on Craig Emerson’s supermarket review.
Including the Senate review … we’ve already announced our funding of Choice, the consumer organisation, to do quarterly price monitoring, ensuring that consumers know where the best deal is available and using that use of information to drive that competition through the system.
We’ve only got a few supermarkets in Australia and it does concentrate a lot of market power in the hands of the retailers, [so] heavy fines might be the way to go. I certainly wouldn’t stand in the way of that.
And I know many people, particularly in one of the richest cities in the world in Sydney, are doing it incredibly tough when you’ve got the dual hits of both interest rate rises and high inflation. Continue reading...
