Leah Weckert and Brad Banducci to front upper house inquiry on 16 April amid intense public scrutiny of supermarket sector
Woolworths and Coles supermarket chains are facing inquiries by the parliament and the competition regulator over prices of goods on their shelves.Woolworths and Coles supermarket chains are facing inquiries by the parliament and the competition regulator over prices of goods on their shelves.
The Greens senator Nick McKim, who chairs the Senate committee, said the chief executives will need to explain how the supermarkets are “raking in billions in profits while millions of Australians are struggling to put food on the table”. “It’s time for the CEOs to front the Senate and face the music,” McKim, the Greens’ competition policy spokesperson, said.
The major supermarkets are also facing a 12-month pricing inquiry by the competition regulator and will need to adjust to aAccording to an analysis of submissions and public commentary, the supermarket representatives will probably argue that supermarket profit margins are slim compared with other industries and that cost increases for shoppers have been driven by price rises imposed by major global food brands.
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