Prime Minister Anthony Albanese has promised to put a stop to supermarket price gouging at a press conference in Canberra on Saturday, ahead of the election in May.
“We will, if elected, implement firstly the Australian Competition and Consumer Commission (ACCC) supermarket inquiry recommendations,” he said.
“By the end of this year, we will introduce legislation to make supermarket price gouging illegal in Australia.
“We want Australians to have these protections. This is good for Australian families and it’s good for Australian workers as well, and Australian farmers.”
Albanese has promised to crack down on supermarket price gouging if elected. (Source: Getty)
He ended his speech to the media saying that he wants to give Australians a “fair crack” because it’s the “Australian way”.
“That’s what my government will deliver.”
Albanese also mentioned that he and his government will set up a taskforce, dedicated to investigating overseas laws on supermarket pricing.
The PM’s comments come after his interview with ABC Insiders, who said that consumers know that they’re being “ripped off” by supermarket price gouging.
“We’ll fine [supermarkets] with heavy fines,” he said when asked on how he’ll enforce on businesses to not price gouge products.
“If they’re ripping people off, then they’re in the gun to pay a heavy penalty for it…people know when they’re being ripped off.”
“Price gouging is when supermarkets are taking the piss of Australian consumers,” he said when asked by the interviewer to give a definition of what price gouging is.
“That’s what price gouging is.”
Albanese stated that he wants to give Aussie consumers a “fair crack”. (Source: Getty Images)
Finance Minister, Katy Gallagher, also stated that the taskforce aims to relieve some of the cost-of-living pressures felt across the country.
“The Anthony Albanese government is focused on responding to those cost of living pressures,” she said.
“We know prices at the supermarket have hit household budgets, and that’s why this government for the last three years has been focused on doing what we can to take pressure off households without adding to inflation.”
Opposition leader Peter Dutton responded to the PM’s comments by describing Albanese as “weak as water” in a Sydney press conference on Sunday.
“Prices have gone up by 30 per cent. So I would say that the prime minister is weak as water, I really would,” he said.
“The supermarkets know it and Australians know it. I think you’ve got a prime minister who can’t stand up to the supermarkets.
“Prices are up at supermarkets at the moment because of Anthony Albanese. That’s the predominant reason.”
The 2025 federal election will be held on May 3.
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