Tammy Tyrrell (Tasmania, Independent) | Hansard source

We've all seen how supermarkets increase their prices unfairly, even when things go on sale. Yes, it's about time someone did something about this. That's why this government has taken action, when other governments have failed to do so. From today, the government is cracking down on price gouging by the major supermarkets. That means, from today, it's now illegal for retailers like Coles and Woolies to charge excessive prices. We will no longer be getting ripped off at the checkout without any legal accountability. The gravy train without any responsibility stops today. These new laws will say to the two major supermarkets, 'If you're charging us more than you should, then the ACCC will be empowered to come after you.'

If the regulator finds that they're charging excessive prices, they can be slugged with big penalties like a fine of $10 million or 10 per cent of their annual turnover. We've made these laws so that Australian families are protected from artificially inflated prices on their groceries. Not only that, we're supporting farmers and fresh food suppliers to secure a fairer deal when negotiating with these supermarkets. We're providing funding to the National Farmers' Federation and AUSVEG to provide free, high quality training to fresh food suppliers across Australia to help them better understand their rights under the new mandatory Food and Grocery Code of Conduct. We will all win when our suppliers and our retailers work together equally and fairly. When our farmers, workers and suppliers win, we consumers at the checkout also win through better prices and having peace of mind, knowing that the process in the background has been ethical and respectful.