Opposition Backs Power to ‘Break Up’ Major Supermarket Companies

Published on July 2, 2024

Australia’s federal opposition has backed legislating divestiture powers for the government to break up major supermarket companies. Opposition Leader Peter Dutton says the powers would only be a “last resort” and aimed at curbing rising supermarket prices. Divestiture power enables authorities to force companies to strip themselves of assets, such as stores and brands. Major supermarkets have posted profits amid the country’s cost-of-living crisis, fuelling accusations—and making them an easy target—from both sides of the political spectrum of price gouging and unfair deals with farmers. Liberal leader Mr. Dutton and Nationals leader David Littleproud on July 2 said the Coalition would take a harder stance than the Labor government in “taking on” supermarket giants to help consumers and farmers....

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