The Australian Competition and Consumer Commission will be collecting information about price changes due to the New Tax System on 1 July, ACCC Chairman, Professor Allan Fels, said today.
"In this regard, the ACCC has also approached a number of retail businesses requesting that they voluntarily provide basic price information, in the week before 1 July, about their pricing from 1 July. This means early, accurate information can be provided to the public about the market place impact of the New Tax System.
"Each store has been asked to provide about 15 prices for 1 July.
"The aim is to gather information on price changes on the day, as there will be a high level of public interest, with as little disruption to business as possible. Major retailers have accepted this.
"The ACCC believes that it is in the interest of the business community itself, as well as the public, that an early, accurate report on prices is available.
"The ACCC is surprised at the negative reaction of at least one business group, especially given the indications of cooperation by a number of individual businesses.
"A newspaper suggestion that there will be a 'price raid' is a beat-up.
"The ACCC has already been conducting price checks in the lead up to 1 July and will, in total, conduct seven major surveys of around 165 cities and towns throughout Australia covering a wide range of household goods.
"However, in the case of 1 July the ACCC is seeking limited business cooperation in order to be able to promptly and with maximum accuracy report price information at the time that price tags are being changed over.
"The snap survey of a small number of items will supplement information the ACCC will obtain from other price checks. It will serve much the same aim as a survey conducted at the time of the reduction in Wholesale Sales Tax last year".
"In this regard, the ACCC has also approached a number of retail businesses requesting that they voluntarily provide basic price information, in the week before 1 July, about their pricing from 1 July. This means early, accurate information can be provided to the public about the market place impact of the New Tax System.
"Each store has been asked to provide about 15 prices for 1 July.
"The aim is to gather information on price changes on the day, as there will be a high level of public interest, with as little disruption to business as possible. Major retailers have accepted this.
"The ACCC believes that it is in the interest of the business community itself, as well as the public, that an early, accurate report on prices is available.
"The ACCC is surprised at the negative reaction of at least one business group, especially given the indications of cooperation by a number of individual businesses.
"A newspaper suggestion that there will be a 'price raid' is a beat-up.
"The ACCC has already been conducting price checks in the lead up to 1 July and will, in total, conduct seven major surveys of around 165 cities and towns throughout Australia covering a wide range of household goods.
"However, in the case of 1 July the ACCC is seeking limited business cooperation in order to be able to promptly and with maximum accuracy report price information at the time that price tags are being changed over.
"The snap survey of a small number of items will supplement information the ACCC will obtain from other price checks. It will serve much the same aim as a survey conducted at the time of the reduction in Wholesale Sales Tax last year".