Bundaberg’s Tom Smith to lead Qld probe into Supermarket price gouging

GRABS HERE

• Miles Government has established Queensland’s first supermarket pricing select committee
• Bundaberg MP Tom Smith will chair the committee
• Committee will examine causes and effects of increased supermarket prices and identify opportunities to increase transparency in the sector

The Miles Government has today established Queensland’s first Supermarket Pricing Select Committee.

The committee has been established following the Premier’s meetings with the heads of Australia’s big four supermarkets.

Agricultural industry advocates have reported to the Premier that while supermarket prices are going up, especially for fresh produce, farmers are not seeing that profit increase at the farm gate.

At a time when Queenslanders are facing cost-of-living challenges, it is critical that all options are explored, to help bring down one of the biggest bills families face each week.

The select committee has been tasked with considering the following:

• rising grocery prices in Queensland and discrepancies between retail and wholesale and farmgate prices, including different-sized businesses;
• the variability in supermarket offerings and pricing across the state, particularly in regional Queensland and in remote Aboriginal and Torres Strait Islander communities;  
• the long-term trends in profits accruing along the supply chain for perishable produce, with particular regard to impediments to the profitability of primary producers;
• the conduct of retailers in negotiations with Queensland producers, and the prevalence and effects of information asymmetry between these parties; 
• improvements to Queensland’s policy environment to increase transparency for producers, including what data will reduce information asymmetry, and/or reduce prices for consumers; and
• any other reviews or inquiries occurring in Australia regarding this matter, with a view to complement these analyses by focusing on potential Queensland Government responses.

Bundaberg MP Tom Smith, whose electorate is made up of one of Queensland’s biggest food bowls, will chair the select committee.

The bipartisan committee will be given the ability to call for people and documents, to assist with their inquiry.

It will be made up of three government members, as well as three from the opposition and crossbench.

The Miles Government MPs will be Tom Smith, Joan Pease and Jess Pugh.  The remaining committee members are expected to be finalised by COB Friday 8 March.

The committee’s report is due to be tabled in the Queensland Parliament by Friday 21 May 2024.

Quotes attributable to Premier Steven Miles:

“Everywhere I go people tell me that cost of living is having a big impact on the family budget.

“From high interest rates to price gouging, it’s all adding up and putting pressure on the most vulnerable.

“In my first speech as Premier, I made a commitment to meet the big supermarkets to share the stories from families that the cost at the checkout was far too high and that farmers felt ripped off at the farmgate.

“What those supermarket CEOs had to say simply wasn’t good enough, so I have moved to form this committee.

“I’d like to encourage all Queenslanders with something to say to come forward.  I am very much looking forward to seeing the committee’s report.”

Quotes attributable to Bundaberg MP Tom Smith:

“Queenslanders don’t think it’s good enough that they’re paying more and more at the checkout while our farmers get less for their produce.

“The Miles Government will hold the big supermarkets to account and ensure all Queenslanders get a fair go.

“I’ve heard too many stories from my constituents in Bundaberg of paying outrageous prices for just one bag of groceries.

"I've heard too many times how growers feel powerless to speak out against the tactics being used against them by the big retailers.

“It is important that this Committee provides Queenslanders the chance to have their say and share their stories of how the big supermarkets’ control on pricing is affecting them.”

ENDS

Emilia Hutchinson - 0437 060 435