Australia's Labor government delays breaking up supermarket giants Woolworths and Coles pending ACCC review of food prices and competition.
Australia's Labor government is cautious about breaking up supermarket giants Woolworths and Coles due to concerns over potential food price increases and job security impacts. The Australian Competition and Consumer Commission (ACCC) has been directed to review prices, competition, and the grocery code of conduct within the sector. Assistant Competition Minister Andrew Leigh stated that a decision won't be made until the ACCC's report is received, as previous inquiries did not recommend divestiture. The Greens and the coalition are working separately on powers to break up the supermarket giants, while Nationals leader David Littleproud calls for divestiture powers to boost competition.
March 31, 2024
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