Greens Home Affairs and Immigration Spokesperson Senator David Shoebridge says the introduction of divestiture legislation for Coles and Woolworths is a “great start” to tackle supermarket competition.
The Greens are pushing for a new bill designed to limit the power of Coles and Woolworths in the supermarket sector and to divest assets if their market power blocks competition.
“These are powers that exist in the United States and have existed for the better part of a century,” Mr Shoebridge told Sky News Political Editor Andrew Clennell.
“We just say we want a little bit of that in Australia.
“The obvious starting point is Coles and Woolies, who are literally screwing Australians for grocery prices and making billion-dollar profits while people can’t afford to buy broccoli.
“We think the powers should be broader … but it’d be a great start to have divestiture powers at Coles and Woolies.”
Greens Propose Divestiture Legislation to Challenge Coles and Woolworths’ Market Dominance
In a bold move to address the growing concern over rising grocery prices in Australia, Senator David Shoebridge, the Greens Home Affairs and Immigration Spokesperson, has advocated for the introduction of divestiture legislation targeted at supermarket giants Coles and Woolworths. The proposed bill aims to curtail the overwhelming market power wielded by these retailers, which critics argue is leading to unfair pricing practices and limited competition within the sector.
During an interview with Sky News Political Editor Andrew Clennell, Mr. Shoebridge emphasized the necessity of such measures, pointing out the significant influence that Coles and Woolworths have on the Australian grocery market. “These are powers that exist in the United States and have existed for the better part of a century,” Shoebridge remarked, suggesting that Australia could benefit from implementing similar regulatory frameworks to ensure a more competitive and fair marketplace.
The call for legislative action comes amid rising frustrations among Australian consumers and producers alike, who argue that Coles and Woolworths have been leveraging their dominant market positions to inflate prices and squeeze suppliers. According to recent reports, the two supermarkets account for a substantial portion of the national grocery sales, prompting concerns over their impact on both the cost of living and the viability of smaller competitors.
Shoebridge’s comments highlight a growing sentiment that the current situation is unsustainable, with many Australians finding it increasingly difficult to afford basic groceries. “The obvious starting point is Coles and Woolies, who are literally screwing Australians for grocery prices and making billion-dollar profits while people can’t afford to buy broccoli,” he stated, underlining the urgency of the issue.
The proposed divestiture legislation would empower regulators to mandate the sale of assets by Coles and Woolworths if their market dominance is deemed to obstruct fair competition. While the Greens acknowledge that this is only a first step toward addressing the broader challenges facing Australia’s supermarket industry, they believe it represents a critical move in the right direction.
As discussions around the bill continue, it remains to be seen how lawmakers and the public will respond to the proposal. However, one thing is clear: the debate over supermarket pricing and competition in Australia is heating up, with potentially significant implications for the country’s retail landscape.
Albion News is a great place to find informative, up-to-date news articles. We provide a wide range of unique articles that offer an interesting perspective on current events from around the world and from various different sources. You can easily search for the topics that matter most to you and explore in-depth pieces that provide insight into the issues and important debates occurring today. Albion News helps you stay informed with carefully researched and credible stories
