Australia news LIVE: Grocery stores face billion-dollar fines; Police hunt for armed teenagers who triggered Westfield lockdown

Treasurer Jim Chalmers says the cost of renewables is a 10th of the $1 trillion figure Opposition Leader Peter Dutton argues it would cost.

Speaking on Nine’s Today, Chalmers argued the nuclear energy policy Dutton released without any costing proves it is a “shambles”.

“What we’ve seen with this nuclear shambles from Peter Dutton is economic insanity, pure and simple. You know, the path that Peter Dutton wants for Australia is the most divisive path,” he said.

“He’s divided his party over it, he can’t provide key details and nuclear, as we know, costs more.”

Asked if he knows the cost of renewables after Dutton claimed it would cost $1 trillion, Chalmers cited the Australian Energy Market Operator report saying renewables cost about $121 billion from now until 2050.

“If you look at the AEMO report, which talks about $121 billion from now until 2050, which is less than a 10th of the figures that Peter Dutton is bandying about,” Chalmers says.

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“The difference between our approach, we know what AEMO says … about our investment needs, we know the kinds of investment we’ll need from the private sector to make the most of this global net zero energy transformation. We don’t know from Peter Dutton how much his nuclear fantasy will cost.”

In another appearance on ABC’s News Breakfast, Chalmers was asked about an interview opposition energy spokesman Ted O’Brien gave to ABC’s Insiders on Sunday, in which O’Brien suggested we won’t know the Coalition’s proposed mix of nuclear, renewable and other forms of energy until after the election.

“They are making it up as they go along,” Chalmers replied.

“This is a very dangerous approach from Peter Dutton and the Liberals to a very serious issue.”

Legislation that could fine supermarket giants billions of dollars if they breach a revamped and mandatory code of conduct will be introduced to the parliament as soon as possible, says Treasurer Jim Chalmers.

A review led by former Labor cabinet minister Craig Emerson into strengthening the Food and Grocery Code of Conduct is set to be released today, as the government has accepted all the recommendations.

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Woolworths would face maximum penalties of $5 billion and Coles could be forced to cough up $3.8 billion – 10 per cent of each company’s annual turnover – which Chalmers told ABC the government will legislate.

“We will legislate it as soon as we can,” he said.

“We recognise this is a reforming government and we have a lot of legislation before the parliament. We need to change the Competition Act to implement these changes to the Food and Grocery Code, we will do that when we can, we will need the support of the parliament in order to do that,” Chalmers continued.

“We want to bed down these changes as soon as we can so we can ensure that the supermarkets are doing the right thing by their growers and suppliers and customers.”

Australia’s supermarket giants could be fined billions of dollars – the highest penalties for any industry – if they breach a revamped and mandatory code of conduct designed to fix an imbalance of bargaining power between the major grocery stores and small suppliers.

Woolworths would face maximum penalties of $5 billion and Coles could be forced to cough up $3.8 billion – 10 per cent of each company’s annual turnover – under the massive fines that will be introduced on the recommendation of a major review tasked with strengthening the Food and Grocery Code of Conduct.

Read the full story here.

A major shopping centre in Adelaide was forced into lockdown on Sunday afternoon following reports of an armed offender.

Police say the incident at Westfield Marion, south of the CBD, was sparked by two groups of young men fighting in the food court.

“A thorough search of the centre was conducted including rooftops. However, the groups involved were not located,” South Australia Police said in a statement on Sunday.

The offenders are still at large as of Monday morning, with police saying CCTV will be crucial to locating the teenagers.

Assistant Police Commissioner Scott Duval said the boys had expandable batons and may have had knives, but that was yet to be confirmed.

He asked them to come forward and face the consequences of their actions.

Israeli Prime Minister Benjamin Netanyahu says the phase of intense fighting against Hamas in the Gaza Strip was coming to an end but that the war would not end until the Islamist group no longer controls the Palestinian enclave.

Once the intense fighting is over in Gaza, Netanyahu said, Israel will be able to deploy more forces along the northern border with Lebanon, where fighting with Iran-backed Hezbollah has escalated.

“After the intense phase is finished, we will have the possibility to move part of the forces north. And we will do this. First and foremost for defensive purposes. And secondly, to bring our (evacuated) residents home,” Netanyahu said in an interview with Israel’s Channel 14.

“If we can we will do this diplomatically. If not, we will do it another way. But we will bring (the residents) home,” he said.

Many Israeli towns near the border with Lebanon have been evacuated during the fighting.

Asked when the phase of intense fighting against Hamas will come to an end, Netanyahu answered: “Very soon.”

But the military will still operate in Gaza.

“I am not willing to end the war and leave Hamas as it is,” he said.

Netanyahu also reiterated his rejection of the idea that the West Bank-based Palestinian Authority run Gaza in place of Hamas.

Reuters