An inquiry into big business price gouging has been launched by the Australian Council of Trade Unions (ACTU).
The inquiry will be chaired by eminent Professor Allan Fels AO.
Professor Fels is a prominent economist and the former chair of Australian competition and consumer commission (ACCC).
Professor Fels AO will use his years of experience as a regulator to consider the extent of price gouging facing working people on essential items.
The inquiry will take public submissions, submissions by experts and by organisations concerned with the potential impacts of price gouging.
The inquiry will also hold public hearings across the country to hear about the potential impact of price gouging on working people and on what can be done to address it.
It will make findings and may make recommendations to the ACTU on policy solutions to limit future price gouging.
Public submissions are now open and can be made via the inquiry website.
Professor Fels said he was pleased to Chair the inquiry.
“It’s time to take a serious look at what is a serious problem, does Australia have a price gouging problem and if so to what extent?” he said.
“In a cost-of-living crisis, price gouging has real consequences. Those affected by this deserve an opportunity to express themselves alongside debate on potential policy solutions.”
ACTU Secretary Sally McManus said Professor Fels will ensure a deep and detailed examination of the issues.
“The impacts of the cost of purchasing our most basic goods shouldn’t be underestimated,” she said.
“Working people are feeling this every day at the checkouts and when the bills come through the door.”
“It’s only right we take a look to see what’s fulling these rises and what can be done about it.”
Find out more about the inquiry or make a submission here.
