ACCC points on the Outcome of COVID-19

  • May 05, 2020 AEST
  • Team Kalkine

ACCC, has updated on the bad and some good from COVID-19. ACCC’s Chairman Rod Sims stated that COVID-19 pandemic is changing the global economic landscape dramatically and is resulting severe disruption to Australian small businesses.

He highlighted that COVID-19 pandemic focused ACCC on two areas of work:

  • Authorisation of crisis alliance between competitors, particularly with respect to hardship polices.
  • Formation of the COVID-19 Taskforce to handle instant harmful consumer & small business problems due to the pandemic.

Benefits of COVID-19:

  • ACCC during the period granted interim authorisation so that the retailers could together bargain with the landlords on rent relief.
  • Wholesale electricity and gas prices are falling significantly, and these falls need to be passed on to those businesses that depends on energy.

 


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