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  Price gouging will become illegal in Australia.
  
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  Anthony Albanese made an electoral pledge.
  
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  READ MORE: Peter Dutton and Anthony Albanese face protests as they are confronted by demonstrators
  

An Albanese-led government would prohibit supermarkets from engaging in price gouging.
election
pledge.

If Labor returns to power in the upcoming federal election on May 3, they have pledged to enact legislation making price gouging unlawful.

To offer additional assistance with the cost of living to families, the Prime Minister has taken action.
Anthony Albanese
aims to address a void in the country’s competition and consumer protection regulations.

“Australian households should receive a just price when they pay at the cashier, and Australian farmers ought to get a fair price for their produce,” he stated.

Despite an ongoing investigation, he has pledged to stop price gouging.
Coles
and
Woolworths
failed to locate where the practice had occurred.

Earlier this month, the Australian Competition and Consumer Commission released the final report and concluded that the prices were not deemed ‘excessive’.

It acknowledged that the two supermarkets had minimal motivation to vie for customers by undercutting each other’s prices.

There are already laws in place in the UK designed to safeguard customers against companies that engage in price gouging.
European Union
, and numerous states across the US.

The Labor party plans to initially adopt suggestions from the ACCC’s supermarket investigation report to enhance clarity regarding pricing, promotional activities, and customer loyalty programs.

A special team will be established to provide guidance on implementing a system to address price gouging at supermarkets, with oversight from the consumer protection agency.

The team would consist of members from Treasury, the ACCC, and additional specialists who would collaborate and present their findings to the federal government within half a year.

Coles and Woolworths have dismissed accusations of price gouging, maintaining that their profit margins are similar to those of their counterparts in countries such as Canada, the UK, and the US.

Amidst the primary concern of rising costs of living among voters, the Labor party is promoting initiatives such as more affordable medications and suggested reductions in taxes.

Treasury Minister Jim Chalmers stated that Labor aimed to ensure Australians were not being taken advantage of.

“We’re offering improved savings for families when they check out at stores and better returns for farmers right at their farm gates,” he stated.

‘This strategy aims to bring increased competition, equitable pricing, and improved offers to Australians.’

Assistant Minister for Competition Andrew Leigh stated that whenever competition was lacking, prices tended to increase.

During the initial leg of the five-week campaign, the prime minister visited a healthcare facility in Murrumba Downs located within the swing electorate of Dickson held by opposition leader Peter Dutton. There, he promoted Labor’s pledge to boost Medicare financing on Saturday.

Mr. Albanese’s subsequent destination was Bundaberg, where he toured the Bundaberg Barrel alongside Industry Minister Ed Husic to advocate for his administration’s initiative encouraging Australians to purchase domestically produced goods.

Later, the prime minister traveled to the NSW constituency of Eden-Monaro to announce community funding at an event in Bega.

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