Repeated price gouging at the checkout could lead to retail giants Coles, Woolworths and Bunnings being broken up under a coalition proposal. Divestiture powers would be able to be used by the consumer watchdog as a last resort to address anti-competitive behaviour by major chains if the opposition wins the next federal election.
‘Half baked idea’ Treasurer Jim Chalmers said the opposition proposal was a “half-baked idea”, referring to a review of the grocery sector that found it would not alleviate prices. “When it looked at this matter, it said that the risk was that it could actually make things worse, not better,” he told parliament. “It found that forced divestiture resulted in a supermarket selling some of its stores to another large incumbent, or in forced closure of stores.
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