Supermarket
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The federal government has allocated AU$30 million to the Australian Competition and Consumer Commission (ACCC) to probe supermarket giants Woolworths and Coles, following accusations of misleading pricing, "land banking," and potential abuse of market power against them.

Aside from the pricing policies, the ACCC will monitor the retailers' practices, including their handling of discounted items, to ensure fairness and transparency, reported Nine News.

The investigation will also examine the issue of "land banking," under which companies hoard undeveloped land, restricting other market players' growth. The ACCC is seeking to explore ways to boost competition in regional areas where options are likely limited.

The investigation centers around the objectives of protecting consumers, promoting competition, and addressing concerns about market dominance in the supermarket sector.

Announcing the funding, Prime Minister Anthony Albanese said his government wanted to crack down on "misleading and deceptive pricing practices and unconscionable conduct," according to Sky News.

"We don't want to see ordinary Australians, families and pensioners being taken for a ride by the supermarkets, and we're taking steps to make sure they get a fair go at the checkout," Albanese said.

The additional funding will allow the watchdog to target supermarkets and retailers "falsely justifying their prices."

Albanese also called the retailers' conduct "completely unacceptable," amid the economic downturn and consumer struggles.

Last week, the ACCC had filed a lawsuit against the duopoly over misleading discounts. The retailers risk AU$50 million in fines if allegations, which include inflated prices, "illusory" sales, and exploiting farmers, are substantiated.

Canberra is cracking down on supermarket monopolies by trying to collaborate with the states to reform the zoning and planning laws that impede the expansion of businesses, making room for more businesses to grow and enter the market.