Australia is considering implementing a mandatory code of conduct for its major supermarkets, with potential fines reaching up to $10 million for violations. This move comes after an interim report highlighted the current voluntary Food and Grocery Code of Conduct as ineffective for supermarkets with annual revenues exceeding $5 billion. The proposed changes aim to address abuses of market power and ensure fair treatment of suppliers and growers, with fines for non-compliance potentially reaching up to $6.6 million. The government supports the recommendations, including making the code mandatory and imposing fines of up to 10% of Coles' and Woolworths' annual revenue for serious breaches. Nationals Senate Leader Bridget McKenzie has long advocated for such measures, while a leading business group warns of possible unintended consequences.
A leading business group has warned of unintended consequences from making a supermarket code of conduct mandatory, as the Coalition pushes for broader powers to force food and grocery giants to sell assets if they act in bad faith: https://t.co/7v1R3CrTSU https://t.co/iAapVCMxmn
Nationals Senate Leader Bridget McKenzie says she has been calling for a mandatory code of conduct to be implemented for supermarkets “for a long time”. https://t.co/F9IqbjcsXh
The Treasurer has signalled the government will press ahead with the initial recommendations from a review of the Food and Grocery Code of Conduct, including making the code mandatory and imposing fines of up to $10 million for serious breaches. https://t.co/3RzHaDP6to
The federal government says it supports fines of up to 10 per cent of Coles' and Woolworths' annual revenue if they are found to be mistreating suppliers, as it begins to move on the supermarket giants. https://t.co/hHbA1YnvRm
Australia’s supermarket giants could face millions of dollars in fines under a mandatory code of conduct recommended by an interim government review https://t.co/TqstDHiaDU
Australia's major supermarkets could face fines of up to $6.6 million if suppliers and growers are not treated fairly, an independent government review said, as it proposed to make a voluntary grocery code of conduct mandatory https://t.co/b4mUY3SNQU
Australia's major supermarkets could face fines of up to $6.6 million if suppliers and growers are not treated fairly, an independent government review said, as it proposed to make a voluntary grocery code of conduct mandatory. More here: https://t.co/3sAlr9rf7R
Major supermarkets should be slapped with massive fines - potentially up to billions of dollars - for mistreating food suppliers, a scathing report has found. #9News FULL STORY ➡️ https://t.co/92pSmmTtrj https://t.co/Z4REbEnuAO
⚠️ AUSTRALIA PROPOSES MANDATORY CODE OF CONDUCT FOR SUPERMARKETS, MILLIONS IN FINES Full Story → https://t.co/Xh7wFuwUws
Australian Supermarkets Could Face Fines Under New Code of Conduct https://t.co/WRFlOs5L6r
Supermarket review recommends huge fines, mandatory code for Woolies and Coles https://t.co/Q0LP5lWEFJ
A warning shot has been fired off to the supermarket giants. FULL STORY: https://t.co/Jk7GKjLw0n https://t.co/9dheT8AKHY
Supermarket giants could face billions in penalties for abusing their market power under proposed changes to the Grocery Code of Conduct. https://t.co/WLYRl6KWj2
The Food and Grocery Code of Conduct is "not effective" and should be made mandatory for supermarkets with yearly revenues exceeding $5 billion, according to an interim report of the review of the voluntary scheme. https://t.co/4tyXy8Pxro
Australia’s big supermarkets could face penalties of up to $10m under proposed mandatory code https://t.co/Umy0y9Hmwb