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Coles' and Woolworths' alleged land banking comes under the microscope, $30 million more given to watchdog for crackdown

⁨39⁩ ⁨likes⁩

Submitted ⁨⁨7⁩ ⁨months⁩ ago⁩ by ⁨Baku@aussie.zone⁩ to ⁨australia@aussie.zone⁩

https://www.abc.net.au/news/2024-09-30/coles-woolworths-land-banking-30m-accc-misled-price-crackdown/104415114

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Comments

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  • Deceptichum@quokk.au ⁨7⁩ ⁨months⁩ ago

    Ooh boy get those wrists ready for more slapping.

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    • Baku@aussie.zone ⁨7⁩ ⁨months⁩ ago

      But don’t worry, it’ll just be gentle

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  • WaterWaiver@aussie.zone ⁨7⁩ ⁨months⁩ ago

    It’s not land banking. It’s land investment. We’re making the land better, more luscious, stronger.

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  • WhatAmLemmy@lemmy.world ⁨7⁩ ⁨months⁩ ago

    Treasurer Jim Chalmers said the funding for the ACCC would make grocery pricing fairer, boost competition and make sure there were “consequences” for wrongdoing.

    Let me guess? The “consequences” will be so insignificant and inconsequential that they qualify as the government being a criminal co-conspirator engaging in racketeering with colesworth — just taking their share of the proceeds, and approval to continue the criminal enterprise.

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