Nationals secure big win for small business
The Nationals as part of the Coalition Government has fought hard to back small business by delivering major changes to misuse of market power provisions in the Competition and Consumer Act (CCA).
Federal Member for Parkes, Mark Coulton said that the Coalition Government reforms to the CCA were a big win for the thousands of farmers as well as small and family enterprises across regional Australia.
“The Nationals have fought long and hard to secure these protections for small business against big business and multi-nationals companies,” Mr Coulton said.
“Small business and farming enterprises are the engine room of our nation, employing 4.7 million people and contributing $340 billion to the economy, including to regional economies right across Australia.
“These reforms will address a long standing weakness in the existing competition rules and will ensure that we have a more transparent and competitive marketplace that treats all supply chain participants fairly.
“Importantly, and for the first time in Australia, the Australian Competition and Consumer Commission (ACCC) will have meaningful provisions to protect businesses that have been subject to misuse of market power.”
In line with the Harper Review’s recommendations, the substantive changes being proposed to section 46 of the CCA mean that conduct that has the effect of substantially lessening competition will be better regulated.
The current Chair of the ACCC, Rod Simms, has been calling for these stronger provisions and former Chair Allan Fels also strongly supports these changes.
The government consulted widely with stakeholders on the design of these reforms and was confident that they would deliver fairness to businesses and a genuinely competitive marketplace for consumers.