With community concern about the cost of living the release of an ACTU report into the impact of price gouging could see some of Australia’s largest corporations put under the spotlight. Today this saw former chairman of the ACCC Allan Fels argue for the implementation of improved competition policy and greater price monitoring powers because Australians are paying too much for many necessities.
Fels honed in on the lack of transparency in Australian businesses when it comes to price and what regulatory measures could be employed to rein in market power.
Image: Shutterstock – Lightspring
Produced By: Stephen Hill
Featured In Story: Associate Professor Sanjoy Paul, University of Technology Sydney Business School, and Dr. Greg Jericho, Chief Economist, The Australia Institute
First aired on The Wire, Wednesday 7 February 2024