Australia news LIVE: ACCC puts ‘most profitable supermarkets in the world’ on notice; Israeli strikes kill dozens in Gaza

The Coalition has accused the government of siding with big business in it’s “flaccid” response to the ACCC’s report that found Australia’s supermarkets are among the most profitable in the world.

In a Sky News interview, Nationals senator Bridget McKenzie claimed Labor had failed for three years to address rising prices for consumers and the “poor deal” that primary producers were getting because of the duopoly.

“This is a very flaccid response from Jim Chalmers, we put a very comprehensive proposal on the table to address the lack of competition in our supermarket sector that the government failed to pick up,” she said.

The Nationals senate leader added there was a lack of penalties and “tough measures” in the governments’ response, countering that the Coalition supports fines of up to $2 million, and giving the ACCC divestiture powers as a “serious disincentive” for mistreating customers and suppliers.

“I think this, once again, is the Labor Party backing their mates at the big end of town, rather than everyday Australians who are being crippled by, you know, the price rises at the checkout.”

McKenzie said the USA and UK had divestiture powers, and that the move was supported by former ACCC chairs.

“We need it here as a measure to really say to these supermarkets, you are unable to treat people egregiously anymore.”