Greater Penalties for Competition Breaches & Unfair Terms, Responsiveness to Super Complaints: The Labor Government’s Approach to Competition & Consumer Laws22 Juli 2022
As the new Parliament prepares to sit, it is useful to consider the new Labor Government’s key focus areas for competition policy (click here and here). These changes are intended to further strengthen consumer and small business rights and deter competition law breaches.
Labor’s appointment of an economics professor, Dr Andrew Leigh, to Assistant Treasurer (with responsibilities for competition policy) signals its resolve to implement significant reforms to competition and consumer laws.
The Labor Government has not yet commented specifically on its appetite for merger reforms. However, in line with its view that Australia has a “competition problem”, it may well support a stricter, mandatory merger clearance regime as was advocated by former ACCC Chair, Rod Sims. Only time will tell whether this is indeed the case.
Please click here to view the summary.