The supermarket crackdown and a surprise income tax cut are among a string of government proposals to ease the cost of living, which voters consistently cite as a top concern.
“Australians deserve a fair go at the checkout. We will hold the big supermarket chains to account,“ Albanese told reporters, promising to introduce legislation this year.
Asked how abuses would be addressed, he promised “heavy fines to make sure that they know that if they’re ripping people off, then they’re in the gun to pay a heavy penalty.”
Australia was looking at overseas examples of regulating unfair pricing, he said, including in Britain and the European Union.
Hung parliament scenario
James Paterson, senior member of the main opposition Liberal Party, said the prime minister had failed to define price gouging.
But the opposition also planned to introduce targeted divestment powers, which could be used as a “last resort” if supermarkets abused their market power, he said.
Annual consumer price inflation was 2.4 percent in the final quarter of 2024, after peaking at 7.8 percent in 2022.
That would translate into a hung parliament with Labor one seat short of a majority, it said, putting the government in a “strong” position to remain in power.
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