The Opposition Leader committed the Coalition to develop laws that could extend to forcibly breaking up Coles and Woolworths.
Peter Dutton has committed the Coalition to develop laws that could extend to forcibly breaking up Coles and Woolworths after he stepped in to stop the Nationals working with the Greens to rein in supermarket power.
“It will come as no surprise that it is a principle of our party not to look to the Greens for leadership on how to manage the economy,” the Opposition Leader told Coalition MPs at Parliament House.The plan to give the Federal Court new powers to split grocery retailers found to be misusing their market power had concerned business groups, with the Business Council of Australia warning the change could in factPrime Minister Anthony Albanese has rubbished plans for break-up powers.
Coles had after-tax margins of 2.73 per cent in 2022. Woolworths’ after-tax profit margin was 2.7 per cent.
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