Supermarket shoppers should benefit from lower prices thanks to the abolition of the carbon tax, the retailers’ industry body says.
Australian National Retailers Association chief executive Margy Osmond says supermarkets will pass back to customers any savings they reap from the tax change.
“In a highly competitive market these major retailers will do the right thing,” Mrs Osmond said on Thursday.
“Today’s outcome will go a long way in returning some certainty to business and consumers.”
Mrs Osmond said retailers’ confidence will begin to recover in the next six months, assisted by a strong housing market and low interest rates.
Meanwhile, WA Farmers welcomed the repeal of the carbon tax, saying it would help improve farming profits.
President Dale Park said he hoped the move would help lower the key costs of agricultural production, such as electricity.
“The coalition has long campaigned that removing the carbon tax will reduce costs which increased following the tax’s introduction – we will be watching closely and eagerly to ensure this is the case,” he said in a statement.