The ‘completely ridiculous’ idea that would slash grocery bills by 30 per cent

The Albanese government has been urged to forcibly acquire hundreds of Coles and Woolworths supermarkets to bring down rising grocery prices, which have forced more than one-third of surveyed Australians to skip meals. 

A YouGov survey released on Tuesday found 94 per cent of respondents were concerned about the cost of groceries, including 61 per cent who were “very concerned”. 

Of the 1500 voters surveyed online, 79 per cent said it was harder to afford their supermarket bill compared to 12 months ago. 

Recent analysis from consumer advocacy group Choice showed grocery prices had increased at all four of Australia’s major supermarket chains (Coles, Woolworths, Aldi and IGA), jumping 7 per cent between May and June this year. 

The Green Institute – the research arm of the Australian Greens political party – has proposed the federal government intervene and pursue publicly owned supermarkets with heavily discounted prices. 

The plan would cut the cost of essentials by 30 per cent, slashing grocery bills by hundreds of dollars per month, an idea inspired by New York Mayor Zohran Mamdani’s pledge to build five government-owned grocery stores. 

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Modelling by the institute suggests an Australian family of four would save $3134 annually by adopting the plan. 

It accused Australia’s supermarket giants of price gouging, while claiming Labor’s recently passed “anti-price gouging” laws had made no impact on food prices. 

“Australians are sick of being ripped off by profit-hungry Coles and Woolworths, while politicians in Canberra sit on their hands,” Green Institute executive director and former federal member of parliament Max Chandler-Mather said.

“Kids are going to school hungry, families are skipping meals, people are cutting back on essentials – all because Labor has allowed Coles and Woolworths to jack up prices for extra profit.” 

Institute of Public Affairs chief economist Adam Creighton previously ridiculed Mamdani’s plan as “completely ridiculous”. 

However, 84 per cent of respondents of the same YouGov poll – including more than half of all surveyed One Nation voters – said they would support publicly owned supermarkets. 

The funding required would further strain the federal budget, estimated to cost $25.1 billion over five years. 

That cost would also fund the construction of more than 400 stores and distribution centres nationwide, in addition to the 200 compulsorily acquired Coles and Woolworths shopfronts. 

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The supermarket giants deny accusations of price-gouging, pointing to eight separate inquiries which found no evidence of the practice, while Coles maintains it makes less than three cents on the dollar in profit.

Mamdani was sued by business groups who said his stores violated civil rights of competitors who would be unable to match their cut-price costs. 

YouGov is credited as the firm which most accurately predicted the outcome of the 2025 federal election.