The proposal would:

• establish a Prices Commission as a Commonwealth entity to monitor price setting across the economy. Staffing levels would be equivalent to the Productivity Commission.
• introduce new price gouging laws and divestiture powers to be enforced by the Australian Competition & Consumer Commission (ACCC)
• add an additional 20 full-time jobs in the ACCC to investigate gouging and act on referrals from the Prices Commission.

The proposal would be ongoing and start on 1 July 2025.