In a bold move to address concerns over price gouging and market dominance, the Coalition in Australia has announced plans to potentially break up major supermarkets if it wins the next federal election. This initiative aims to dismantle the Coles and Woolworths duopoly, which has long dominated the Australian retail landscape. The proposed divestiture powers would serve as a 'last resort' to ensure fair pricing and competition within the sector. The Nationals, a key party within the Coalition, have highlighted the necessity of such measures, suggesting that while forcing supermarkets to divest individual stores may not be practical, divesting certain arms like petrol or liquor could effectively curb their market power. This announcement comes in the wake of a comprehensive review into Australia's supermarket sector, signaling a significant shift towards stricter regulation of the industry.
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