<?xml version="1.0" encoding="ISO-8859-1"?> <docID>329282</docID> <postdate>2024-09-18 11:57:35</postdate> <headline>Supermarket policy not ‘anti-business’: Opposition</headline> <body><p><img class="wp-image-241716 " src="https://citynews.com.au/wp-content/uploads/2021/10/hanson-lu-sq5P00L7lXc-unsplash-resized-e1726624459269.jpg" alt="" width="777" height="517" /></p> <caption>The coalition says its proposed supermarket break-up powers would create an 'even playing field'.</caption> <p><span class="kicker-line">By <b>Poppy Johnston</b> in Canberra</span></p> <p><strong>The federal opposition is maintaining its push for last resort supermarket break-up powers is not anti-business, following criticism from a major lobby group.</strong></p> <p>Opposition finance spokesperson Jane Hume said the sector-specific divestiture powers would only be applied if anti-competitive behaviour was found.</p> <p>"That's not an anti-business policy... it's a policy putting everyone on an even playing field," Senator Hume told Sky News on Wednesday.</p> <p>She said big business obligations were not just to shareholders but also customers, employees and supply chain partners.</p> <p>The Greens have also been calling for powers to break up supermarket businesses found to be misusing their market power.</p> <p>The sector has come under intense scrutiny as consumers have struggled to pay for groceries and farmer prices were undermined while the big players reported profits.</p> <p>The Business Council of Australia took shots at divestiture policies at a dinner on Tuesday, with president Geoff Culbert arguing it had become "popular to bash big business".</p> <p>"Why would anyone want to invest in a country where a 4 or 5 per cent profit margin gets you an accusation of price gouging and a call for divestment?" he asked at the group's annual dinner.</p> <p>Divestiture policy was not the only target of criticism, with Labor government regulatory changes and workplace relations reforms also under fire.</p> <p>Prime Minister Anthony Albanese, who spoke at the same event, said job creation had been strong under the industrial relations reforms.</p> <p>He also said government wanted to work alongside the private sector on reinvigorating the economy.</p> <p>"Economic reform is not confined to a vanished golden age, it remains our challenge to meet and our opportunity to seize," Mr Albanese said in his speech.</p> <p>"I am optimistic that government and business can do this together, by recognising each other's strengths, respecting each other's views and valuing each other's contribution."</p> <p>The business group representing Coles, Woolworths and other big corporates also issued a warning about the state of the economy and the outlook for national prosperity.</p> <p>August CreditorWatch data found overall business failure rates had jumped 17.3 per cent since January.</p> <p>The average failure rate was sitting at 4.95 per cent, the highest level since early 2021.</p> <p>CreditorWatch chief economist Anneke Thompson said Australian businesses were operating under extremely challenging conditions.</p> <p>Low levels of consumer spending, high inflation and interest rate increases had been putting pressure on businesses.</p> <p>Yet high failure rates also reflected a level of "catch-up" from pandemic-era lows, Ms Thompson said, with businesses that may have otherwise gone bust supported by JobKeeper payments and a pause on tax office debt collection for firms.</p> <p>Food and beverage businesses were going under at the highest rate of all industries tracked by credit reporting bureau.</p> <p>In August, businesses in the industry were failing at a rate of 8.2 per cent.</p> <p>https://citynews.com.au/2024/cafes-and-restaurants-failing-at-higher-rates/</p> <p> </p> </body>