this post was submitted on 14 Dec 2025
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Coles and Woolworths hit back at government's price gouging ban (www.abc.net.au)
submitted 2 days ago* (last edited 2 days ago) by Eyekaytee@aussie.zone to c/australia@aussie.zone
4 comments fedilink hide all child comments
 

Unfortunately not a great article, it's just sourced from AAP, the ABC at the moment is too busy doing live coverage of an American shooting for some reason

From Bloomberg:

Australia will ban supermarket price gouging from July 1 under a new law the government says would protect shoppers from excessive grocery prices charged by major retailers.

Treasurer Jim Chalmers and Assistant Minister for Competition Andrew Leigh said the changes would make it illegal for “very large” grocery chains to charge prices deemed “excessive” relative to their cost of supply plus a reasonable margin.

Penalties would be steep: as much as A$10 million ($6.7 million) per violation, or three times the value of any benefit gained, or 10% of annual turnover if that figure can’t be determined.

I don't know what "excessive" means and what the rate would be.

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[–] SarahFromOz@lemmy.world 10 points 2 days ago* (last edited 2 days ago)

Excessive really does need to be quantified or else terms like price gouging are still undefined and it's more of a vibe.

[–] dyathinkhesaurus@lemmy.world 8 points 2 days ago (1 children)

Also who gets to determine what "excessive" means, and whether they've already been bought by lobbyists.

[–] SarahFromOz@lemmy.world 6 points 2 days ago* (last edited 2 days ago) (1 children)

I assume the ACCC but nothing is really spelled out in this article. Whether that is the article's fault or the loose way the regulations seem to be written I do not know.

[–] dyathinkhesaurus@lemmy.world 4 points 2 days ago

These days it's probably both 😉