Retail politics of ACCC Coles and Woolies case are bad for business
The investor reaction underlines challenges facing the business community which has tried to push back against the populist anti-big business bashing in Canberra ahead of the federal election.
Whether Coles and Woolworths have scored an untimely own-goal on behalf of corporate Australia depends on the strength of the Australian Competition & Consumer Commission’s case against the supermarket majors.
But there can be no doubt Gina Cass-Gottlieb is making the biggest statement of her relatively short time as head of the ACCC by taking action against Coles and Woolworths for allegedly misleading customers by offering so-called fake discounts on a range of staple groceries.
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correction —
This editorial originally misattributed remarks made by Prime Minister Anthony Albanese at the Business Council of Australia dinner to Geoff Culbert.
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