Government moves on component pricing

Federal Consumer Policy Minister Chris Bowen today released draft legislation to require retailers to reveal the all-inclusive price of the products on their shelves.

The component pricing laws will require all companies, except those in the financial services sector, to reveal the final price of products including taxes, fees and charges.

“This is good news for consumers,” Bowen says. “No longer will consumers feel ripped off when they suddenly discover that what they thought they were paying doesn’t take into account hidden taxes and charges.