SYDNEY - Australia could impose billion dollar fines on big supermarket chains that fail to comply with an industry code of conduct, the federal government said on Monday as it seeks to address concerns that suppliers have been unfairly squeezed on pricing.
"This is about getting a fair go for families and a fair go for farmers," a joint statement by Treasurer Jim Chalmers, agriculture minister Murray Watt and competition minister Andrew Leigh said. Representatives for Woolworths and Coles said their companies would consider the report's recommendations and the government's response and were committed to supporting a sustainable grocery sector.
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