By Stephen King
In practice, this will involve the suppliers “substantiating” their price changes, the ACCC checking these prices and, if the ACCC disagrees with the supplier, the supplier being held guilty of overcharging until they can prove themselves innocent.
Each business will have to present a case that their price changes include the carbon tax repeal (as well as numerous other simultaneous cost changes and market factors).
Having the ACCC “check” price changes gives the public a false sense of its purpose.
When the Goods and Services Tax was introduced by the Coalition government in 2000, the ACCC had a three-year role monitoring “price exploitation”.
When the carbon tax was introduced, the Labor government directed the ACCC to check for price gouging.
The carbon tax repeal laws are just the latest example of politicians using the ACCC for political ends.
The carbon tax repeal legislation has established new laws specifically to deal with companies' “carbon tax price reduction obligation”.
Read more here: Business Spectator