Richard Goyder vows to keep cutting prices even it if lands Wesfarmers in court

 In Australia, Coles, NewZealand
Livid big business leaders have blasted the federal government’s backing of a new effects test, siding with small business in its long-running battle with Australia’s retail giants over competition policy.
Designed to prevent big businesses from behaving in a way that has "the purpose, effect or likely effect of substantially reducing competition" the so-called effects test was the most controversial proposal in the Harper review of Australia’s competition law.
A defiant Wesfarmers chief executive Richard Goyder slammed the move promising the changes to Australia’s competition law would have no impact on pricing at its dominant retail brands, Coles, Bunnings or Kmart and it was prepared to fight for this right in court. Sydney Morning Herald – Read more…

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