Major supermarket chains Coles and Woolworths have dismissed Labor’s pledge to launch a taskforce investigating grocery price inflation if re-elected.
Coles stated that after a year-long inquiry, neither the government nor the Australian Competition and Consumer Commission (ACCC) found evidence of price gouging. They argued that rising costs in energy, labour, insurance, and logistics were the real drivers of price increases.
Woolworths echoed this, saying it provided extensive data to the ACCC, demonstrating the impact of inflation across the economy. While acknowledging cost-of-living pressures, the company insisted it always strives to offer value to customers.
Government Threatens Tougher Penalties
Prime Minister Anthony Albanese has vowed to introduce severe penalties for supermarkets if they are found to be inflating prices unfairly, despite the ACCC finding no major instances of such practices.
In his first major campaign announcement, Mr Albanese committed to establishing a watchdog to scrutinise supermarket pricing. Although the inquiry did not uncover systematic exploitation, he insisted that supermarkets should know they are “being watched.” He also targeted deceptive tactics like “shrinkflation” and misleading discounts, promising strong government action to protect consumers.
New Legislation in the Pipeline
Campaign spokesperson Jason Clare confirmed that if re-elected, Labor would introduce legislation by the end of the year to make price gouging illegal. This builds on the government’s commitment to implement the ACCC’s recommendations, including greater transparency in pricing and promotions.
Mr Albanese emphasised that Australian families deserve fair pricing at the checkout and that farmers should be paid fairly for their goods.
Election Campaign Focuses on Queensland
As the election campaign gains momentum, Mr Albanese toured key seats in Queensland and New South Wales, while opposition leader Peter Dutton campaigned in Brisbane and his own seat of Dickson.
Labor currently holds only five of Queensland’s 30 seats, with the Coalition controlling 21. Both parties believe they can reclaim seats from the Greens, but significant shifts are unlikely. The north Queensland seat of Leichhardt is Labor’s best chance for a gain due to the retirement of long-time MP Warren Entsch.
Despite speculation, Mr Albanese ruled out forming a minority government with the Greens, while Mr Dutton warned that a Labor government would be heavily influenced by smaller parties unless the Coalition wins a majority.
Medicare in the Spotlight
At a healthcare clinic in Dickson, Mr Albanese accused Mr Dutton of planning to undermine Medicare. Meanwhile, the Prime Minister defended his government’s economic management despite projections of long-term deficits, arguing that Labor had been “economically responsible” while delivering cost-of-living relief.
Although the latest budget increased spending by $37 billion, Treasurer Jim Chalmers insisted that Labor was managing the budget responsibly while investing in Medicare. He framed the election as a “referendum on Medicare.”
Economic Debate Intensifies
On the campaign’s first day, Mr Dutton focused on declining living standards, high energy costs, and business insolvencies, urging voters to trust the Coalition’s economic management.
“Our plan will put Australia back on track,” he said, while criticising Labor for contributing to inflation and energy price hikes. However, when asked for specific figures on how much the Coalition’s policies would lower electricity prices, he declined to provide details.
Economic modelling by Frontier Economics, which has also worked on the Coalition’s nuclear policy, is expected to be released soon.
Uncertainty Over Vehicle Standards
Mr Dutton remained vague on the Coalition’s stance on the New Vehicle Efficiency Standard (NVES), which it previously opposed in Parliament. While Nationals members are pushing for its repeal, Mr Dutton did not confirm whether a Coalition government would scrap or amend it.
“We will focus on reducing the cost of cars and utes,” he said, criticising Labor’s approach but leaving room for potential modifications rather than outright repeal.
With both parties setting their agendas, voters now face a choice between competing economic visions and contrasting approaches to supermarket regulation, cost-of-living relief, and energy policies.For the latest retailer news and information, check out the IndiHub website or to speak to us about how we can help your business contact us.
