Wesfarmers chief Richard Goyder warns Canberra against intervention

Wesfarmers chief Richard Goyder has sent a clear message to Canberra not to interfere with the nation’s supermarket sector, warning that an attempt to cap the market share of Coles and Woolworths would lead to higher prices for shoppers.
Mounting a spirited defence before shareholders of the Perth-based conglomerate’s ownership of the nation’s No.2 supermarket chain, Coles, Mr Goyder also made a play to the new Abbott government’s ”hands-off” approach to the economy, saying shoppers were benefiting from lower prices thanks to strong competitive forces in the grocery sector. Sydney Morning Herald – Read more…