Matt Burnell (Spence, Australian Labor Party) Share this | Link to this | Hansard source

After Monday last week, many Australians may have felt something known by the German word schadenfreude. That emotion was felt after seeing the Four Corners episode on supermarket power. We got a front seat witnessing the career implosion of the now former CEO of Woolworths, Brad Banducci. He attempted to smugly deflect an expert's opinion about their dominant power in the food and grocery market, a market that is concentrated to such a significant extent that it dwarfs comparable markets in countries like the US and the UK. It's such an overwhelming level of market power and concentration that shoppers, suppliers and farmers alike are going on record talking about the many negative impacts that such market conditions are having, from farm gate to table plate.

No market is well served by two companies with a combined market share of 65 per cent, and neither are everyday Australians, particularly those in my electorate of Spence. The Albanese Labor government appointed Dr Craig Emerson to lead the review of the Food and Grocery Code of Conduct, an important first step forward to curb power. The supermarkets are so imperious that they seem to think they are answerable to nobody but their shareholders. All sides of this parliament are now in lock step when it comes to the supermarket giants. This government is standing up for farmers, for small businesses and for consumers.