1 February 2006

Pearce Welcomes Win for Consumers

Chris Pearce, Parliamentary Secretary to the Treasurer – the position responsible for Consumer Affairs at the Commonwealth level, has welcomed the Federal Court’s ruling against Safeway as a “momentous victory for consumers and a strong deterrent to others who seek to misuse their market power”.

Mr. Pearce said consumers could take comfort from the $8.9 million fine imposed by the court.

“This is the steepest fine ever imposed for price fixing and misuse of market power. It is a clear message to all consumers in Australia that their interests are being protected. That protection remains at the forefront of the Government’s thinking on Consumers Affairs matters”.

Mr. Pearce warned business that similar abuse of the market place will not be tolerated.

“This Government is firmly committed to fairness in competition. Any business that seeks to flout that principle runs the very real risk of prosecution”, Mr. Pearce said.

1 February 2006

Contact: Bernie Finn 03 9887 3890 or 0418 594 260