Powers to break up supermarket chains proposed if Coalition win next election
The Federal Coalition wants to give courts and the consumer watchdog powers to break up the major supermarket chains if they take power at the next election. Let's go live to our political editor Charles Croucher in Canberra. Charles, good afternoon. How would this work? Afternoon, David? Well, Peter Dutton says this would be a last resort to prevent supermarkets abusing their market share. But it's a step further than the current multi billion dollar fines that are being considered. The opposition leader made the announcement this afternoon after a joint meeting of the Coalition. The Liberal Party has now adopted a policy that has been championed by the Nationals. These so-called divestiture powers would only be applied after warnings, after initial penalties, and then only if it's deemed that they'll lead to substantial improvements in competition. I asked Peter Dutton about this apparent shift away from the free market principles of the Liberal Party. Not anti big business, I want to see them continue to grow, but I want to take care of consumers at a time when they're hurting most. This isn't about fixing prices and it won't mean that tomorrow or when we get into government that we're going to break up the supermarket straight away. This is a deterrent. They are hopelessly divided on this question. The shadow treasurer has been rolled. The shadow finance minister has been rolled. The leader of the National Party has got his way over the wishes of so many others. The government is pushing on with its plan to make the code of conduct mandatory for supermarkets and make it easier for farmers and producers. To report questionable conduct. Havana, OK, Charles, thank you.