Reducing Supermarket Dominance
What was the proposed Legislation?
The Prohibition on the Purchase of Residential Property by Foreign Entities Bill 2024 takes a stand against Australia's supermarket giants by gradually reducing their market share to 20% over six years, led by a Commissioner for Food Retailing.
Independent Federal Member for Kennedy, Bob Katter, and I joined forces with a shared mission to even the odds and champion fair competition. Together, we're taking a firm stance against supermarket giant’s predatory practices and advocating for the fair treatment of our suppliers and farmers.
This legislation goes beyond just groceries; it's about standing up for small businesses, tackling the cost of living, and giving Aussie farmers a fair go.
Our Bill aimed to:
Promote Competitive Balance
Our legislation lays out a clear path to reduce supermarket giants' market share to a maximum of 20% within five years, effectively dismantling the current oligopoly and restoring fairness to the marketplace. Oversight by a dedicated Commissioner for Food Retailing ensures that fair competition remains at the forefront of our efforts.
Crack Down on Unfair Practices
This bill takes a tough stance against predatory tactics that harm suppliers and small businesses, strengthening regulations to ensure a level playing field for all retailers. By directly addressing unfair competition practices, we're safeguarding the interests of suppliers and consumers alike.
Enhance Market Transparency
We're committed to increasing transparency in the retail sector by requiring the publication of information on pricing from producers to consumers. Additionally, regulations will be implemented to limit markups to ensure fair pricing practices throughout the supply chain.
Protect Supplier Rights
Our legislation prioritises the rights of suppliers and farmers by empowering the Commissioner to investigate breaches of fair competition practices. The scrapping of the 'Food and Grocery Code of Conduct' aims to address power imbalances and prevent supermarkets from exerting undue influence over suppliers and producers.
Major Party Porkies
The National Party, the Liberal Party and the Labour Party all either voted against this bill, or legged it out of the chamber to avoid supporting it.
I need to point out to the major parties that talking about taking action is not good enough. Words have to be backed up by deeds. The National Party had nine years to stop the supermarket hogs and failed. They also introduced the Grocery Code of Conduct and it turned out to be a dud which has not stopped the price gouging. The National Party also introduced laws on the misuse of market power which have also been ineffective at taming the hogs!
It’s all just hot air and porkies.
Every second word we hear in Parliament is '‘affordability’, yet its all talk! We want the major parties to back up their words with deeds. Stop just talking the talk. Start walking the walk.