Hello and happy Friday!
The Australian supermarket inquiry saga continues as the ACCC investigates if Australia's supermarket sector is competitive enough, to the point where retailers have to give shoppers the lowest possible prices and not steamroll their suppliers. Are "ColesWorth" abusing their market share or are they correct in arguing that the presence of overseas chains such as Aldi, Amazon and Costco sufficiently shifts the environment?
We also explore some of the latest initiatives of the Albanese government, including the New Vehicle Efficiency Standard, National Urban Policy and plans to expand the gas industry. Find out who wins and loses in the articles below. We will return next week with the Christmas special episode to wrap up 2024.
Have a great weekend!
The Latest Trending Economic News Curated for You by Balmoral Group Australia
Woolworths and Coles are emphasising the threat of Aldi — is it really a competitive force to be reckoned with?
Admittedly, the ACCC's supermarket inquiry has lacked the drama of this year's Senate probe —which saw then-Woolworths boss Brad Banducci threatened with jail time. And there were certainly no walkouts. But under the gaze of legal counsel Naomi Sharp SC, the consumer watchdog did conduct a step-by-step dissection of the big two supermarkets' business models. Read about it here.
Australians’ cars are typically larger, heavier and less efficient than in Europe – here’s why
Road transport is responsible for a substantial share of global carbon dioxide (CO₂) emissions. So reducing these emissions is a high priority. In the European Union (EU), CO₂ emissions from new passenger cars have been regulated for more than 15 years. The range of policy measures includes mandatory CO₂ emission targets. But Australia’s mandatory New Vehicle Efficiency Standard will only come in next year, without other supporting policy measures. Read more here.
Cheaper housing and better transport? What you need to know about Australia’s new National Urban Policy
Imagine a city where everyone can afford a safe home, reach work or school without long, stressful commutes, and enjoy green parks and clean air. This is Anthony Albanese’s decade-long vision for Australia’s cities after last week’s release of the new National Urban Policy (NUP). Read more here.
Australia accused of ‘exporting climate destruction’ on tiny Pacific neighbours with massive gas expansion plans
Pacific governments at a UN climate summit are criticising Australia’s plans for a massive gas industry expansion in Western Australia, saying it could result in 125 times more greenhouse gas emissions than their island nations release in a year. Read more here.
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