Nick McKim (Tasmania, Australian Greens) Share this | Hansard source

We will try again, and finally. My question is to the Minister representing the Treasurer, Minister Gallagher—and, Minister, congratulations on your ministerial appointments. Two weeks ago, the Australia Institute released research which showed that rising profits, not rising wages, are a primary driver of inflation in Australia. Earlier this week, former ACCC chair Mr Rod Sims observed that, in times of high inflation, companies in concentrated markets—which many Australian markets are—can use their market power to increase prices at a higher rate than their costs are increasing and further exacerbate inflation. Does your government accept that corporate profiteering is a primary driver of inflation in Australia? And, if so, what are you going to do about it?