This week on the Chanticleer podcast, James and Anthony look at how the supermarket giants were accused of dodgy discounting, ask who will win the brawl over negative gearing, and examine the corporate Power list.
The issue of negative gearing exploded this week when it was confirmed that the government is in the throes of a review of the controversial tax policy.
I think the government wants to be seen as throwing everything at the issue of housing affordability, which is fair enough, and a review of negative gearing is not a bad idea.This is back to this theme of housing eating the economy. It’s eating the politicians’ minds as well. They can’t have a sensible conversation about negative gearing because it’s so polarising in the electorate.
The ACCC cited 266 examples of products at Woolies and 245 examples at Coles … would increase the price materially of a certain product by 15 per cent, for example, for a period of a few weeks, and then reduce the price of that product, mark it with a “down, down” or a “prices drop” promotion. But the end result was customers actually paying more for the product, even though they were told it was on special.
But ACCC chair Gina Cass-Gottlieb changed all that on Monday. She got Coles and Woolworths back on the front page with a juicy five-page media release and some really simple, easy-to-understand examples, like Oreo biscuits and Strepsils throat lozenges – stuff that we all know what it is.] is the change in the nature of power.
We talk about the big four in banking, we talk about the big four in accounting and consulting, do we need to start talking more about the big four in super, or the big eight? We’ve got eight big industry funds.I don’t think four is the right number. We should definitely talk about the big two. There are two that are heads and shoulders, growing faster than the others, bigger than the others, and that’s AustralianSuper and Australian Retirement Trust – $655 billion between them ...
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