Varun Ghosh (WA, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Minister representing the Treasurer, Senator Gallagher. At every opportunity, the Albanese Labor government has provided cost-of-living relief, delivering bigger and fairer tax cuts so Australians can keep more of what they earn. We know people need help with their bills, so we have provided energy bill relief. We know students are under pressure, so we slashed student debts and expanded fee-free TAFE. We've made child care cheaper, medicines cheaper and bulk-billing more accessible. Western Australians often raise with me the cost of groceries. What is the government doing to ensure Australians get value at the supermarket checkout?

Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Link to this | Hansard source

I thank Senator Ghosh for the question and for focusing on the needs of his constituents in the great state of WA. Senator Ghosh is right to point out that, with all the measures that this government has put in place to help with those cost-of-living pressures, we know that people are doing it tough and we know particularly—in reference to the last part of Senator Ghosh's question—how many Australians are feeling about the price of groceries at the moment. We've been making it clear through the work that the Prime Minister has been leading, on cracking down on supermarkets and resourcing the ACCC, just how seriously we take any suggestion of shonky behaviour that will cost Australian families at the checkout.

The Albanese government will introduce legislation that will see supermarkets face multimillion-dollar penalties for breaches of the Food and Grocery Code of Conduct. This is part of our broader competition policy agenda to get farmers and families a fair go. The bill provides that maximum fines under the food and grocery code will be at least $10 million. These are serious penalties. They are the highest corporate penalties under any industry code. Regulations to make the new mandatory Food and Grocery Code of Conduct will be made this year, as I advised Senator Pocock yesterday, with the code coming into force from 1 April 2025. The new code will help ensure that supermarkets are as competitive as they can be so Australians get the best prices possible.

This is all part of our broader competition policy agenda, which is cracking down on shrinkflation by strengthening the unit pricing code to make it easier for Australians to make accurate and timely price comparisons, working with states and territories to reform planning and zoning regulations, ensuring the ACCC will be notified of every single merger in the supermarket sector in the biggest strengthening of merger reform in half a century and providing the ACCC with— (Time expired)

Sue Lines (President) Share this | Link to this | Hansard source

Senator Ghosh, first supplementary?

Varun Ghosh (WA, Australian Labor Party) Share this | Link to this | Hansard source

Monthly inflation data were released today by the Australian Bureau of Statistics. What did the data show, and how is the Albanese Labor government managing the inflation challenge?

Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Link to this | Hansard source

The data released today, and it is welcome data, Senator Ghosh, as you point out, that the monthly inflation figure remained at 2.1 per cent in the year to October 2024, the same as the previous month. This means—

Honourable Senator:

An honourable senator interjecting—

Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Link to this | Hansard source

Yes, you've never seen an economic statistic you would welcome—2.1 per cent in the year. What those opposite would love to see is inflation remaining higher. That is what they are arguing for. Every time we get a good economic dataset in—and this is welcome, 2.1 per cent—

Jonathon Duniam (Tasmania, Liberal Party, Shadow Minister for Environment, Fisheries and Forestry) Share this | Link to this | Hansard source

Is it welcome, Australia?

Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Link to this | Hansard source

It's much more welcome than the 6.1 per cent we inherited. Let's just say that. Let's just remember what we inherited: inflation with a six in front of it and increasing. Interest rates were increasing under your watch, peaking in December. We've seen interest rates stable. We're seeing inflation coming down. (Time expired)

Sue Lines (President) Share this | Link to this | Hansard source

Senator Ghosh, second supplementary?

Varun Ghosh (WA, Australian Labor Party) Share this | Link to this | Hansard source

Whether it's putting the supermarkets on notice or managing inflation, the Albanese Labor government is working hard to make lives easier for all Australians. The cost-of-living challenge is real, and that's why we've provided relief wherever we can. What could be standing in the way of the government delivering further cost-of-living relief for all Australians?