Maria Kovacic (NSW, Liberal Party) Share this | Link to this | Hansard source

Australians are struggling now more than ever under this government. This is especially true when we pay for our groceries at the check-out. I had the privilege of recently sitting on the Senate Select Committee on Supermarket Prices, where we explored why prices are so high in an effort to find a solution. While the committee report came with diverse and often divergent views on the matter, we did agree on some very important things.

The food and grocery code should be mandatory, to protect small agricultural growers and suppliers. I was deeply concerned to hear about how many farmers and small-business owners felt threatened or intimidated by our big supermarkets. The power imbalance is too great. Making the code mandatory is one step we can take in bringing fairness and transparency to grower and producer agreements with suppliers and retailers.

Another thing we wanted to see was greater scrutiny of multinationals. Companies like Unilever and Nestle cover 80 per cent of the items on our supermarket shelves and in our cupboards at home. We heard evidence from both Coles and Woolworths that this power imbalance is a driver of price increases. We weren't afforded the opportunity to explore these claims in more depth, and I hope these issues may be referred to a separate committee for exploration.

Another area we agreed upon was the need for price transparency so that everyone, from consumers to small-business suppliers, can understand price movements over time. This will give suppliers greater insight for contract negotiations and consumers a better understanding of cost changes for their staple products. The cost of groceries is one of the most noticeable expenses in the family budget, and the government must do more to bring down inflation, encourage competition and open barriers to entry in the supermarket sector.