Anthony Albanese has announced that a re-elected Labor government will introduce legislation to make price gouging by supermarkets a criminal offense, marking the initial major policy declaration of the election campaign.

The Prime Minister is scheduled to reveal this Sunday that Labor will act on recommendations by the Australian Competition and Consumer Commission (ACCC) to enhance transparency regarding supermarket prices, promotions, and loyalty programs.

In addition, Labor intends to establish a task force to advise on the implementation of an “excessive pricing regime” for supermarkets, which would be enforced by the ACCC.

Albanese stated, “Labor will make price gouging by supermarkets against the law,” emphasizing that Australian families and farmers deserve fair prices at the checkout and for their products, respectively.

The task force, comprising experts from Treasury, ACCC, and other market and regulatory bodies, is expected to present a proposed course of action within six months. While specifics about the pricing regime are scarce, Labor is looking at models from the European Union, the UK, and 30 US states as potential guides for their reform.

Andrew Leigh, the Assistant Minister for Competition, argued that Australians should have the same protections from excessive pricing as international consumers.

This initiative follows the ACCC’s final report on supermarkets, released on March 21, which identified Coles, Woolworths, and discount rival Aldi as among the most profitable supermarket chains worldwide.

The budget also includes $2.9m over three years to assist suppliers in dealing with the major supermarkets, with Treasurer Jim Chalmers affirming that Labor will prevent Australians from being “treated like mugs” and deliver better deals for families and farmers.

This announcement by Labor is part of their broader strategy to address the cost of living, alongside proposed tax cuts, energy bill rebates, and cheaper medicines.

The Greens and the Coalition have called for Labor to introduce divestiture laws to fragment the supermarket chains as a punishment for price gouging, an appeal that remains under consideration.

Source: https://www.theguardian.com/australia-news/2025/mar/29/labor-promises-price-gouging-crack-down-on-supermarkets