Is It Fair For Australian Corporations To Make Record Profits During A Cost Of Living Crisis?
The Australian economic landscape has seen a succession of Australian corporations declaring record profits. The big insurers were the latest, joining the banks, the supermarket duopoly, the airlines, and a host of miners and fossil fuel companies in achieving record profits. Is it fair for Australian corporations to make record profits during a cost of living crisis? Many ordinary citizens are struggling to afford to put food on the table and meet their rent or mortgage payments. High inflation in the local economy has been the given reason but analysis by pundits has revealed that many companies have been price gouging on the back of a lack of competition in the market. This means these companies can set the price and consumers are bereft of power in the equation.
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