THE Australian Competition and Consumer Commission will receive $30 million in additional funding over three and a half years for investigations and enforcement relating to the supermarket and retail sector.
The ACCC is the independent statutory government authority and Australia’s peak consumer protection and competition agency.
ACCC Chair Gina Cass-Gottlieb said the added resources would strengthen the Commission’s enforcement and compliance efforts in a crucial sector that millions of Australian consumers depend on.
“Active, evidence-based enforcement of the Competition and Consumer Act is core to the ACCC’s work, and is essential for deterring conduct that harms consumers, competition and fair trading, and by extension productivity and the wider economy,” Ms Cass-Gottlieb said.
“The ACCC’s work has always reflected the current issues impacting the Australian economy, consumers and businesses – informed by evidence, information and intelligence from a range of sources.
“This includes reports to our Infocentre and social media, engagement with consumer stakeholders and other government departments and regulators, as well as pro-active surveillance.
“This funding will enable us to escalate a range of investigations in this sector, including in relation to potential misleading pricing claims or practices, claims about delivery timeframes and costs including for regional and remote Australians, and businesses misrepresenting consumers’ rights under the Australian Consumer Law.”
Each year in February and March, the ACCC outlines its compliance and enforcement priorities.
This year, those priorities included addressing competition, consumer issues, fair trading, and pricing concerns in the supermarket sector, particularly focusing on food and groceries.
While the ACCC is already actively pursuing these issues, the additional funding will enable it to identify, advance, and expedite further matters, it said in a statement.
“We have heard first-hand from consumers how the cost of living is impacting their ability to choose and that they need to be more cautious with purchasing decisions. It is critical that consumers are provided with clear and accurate information about the price or value of the goods and services they rely on,” Ms Cass-Gottlieb said.
“The ACCC is also receiving an increasing number of reports from consumers worried about prices and representations made about the quality or features of goods and services, as well as a growing number of reports about delayed or non-delivery of goods purchased online.”
The ACCC is undertaking a 12-month inquiry into Australia’s supermarket sector, initiated by a formal directive from the Australian Government on February 1. The interim report was recently released.
“In this, the 50-year anniversary of the Trade Practices Act, the ACCC remains committed to making markets work for consumers,” Ms Cass-Gottlieb said.
The funding will add $8.5 million each year for the next three and a half years, starting 1 January.
Source: ACCC
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