Australian Government announces Taskforce to review competition policy.
24 August 2023
On Wednesday 23 August 2023 the Australian Treasurer, Jim Chalmers, and Assistant Minister for Competition, Charities and Treasury, Andrew Leigh announced that a Competition Taskforce has been established to conduct the review of Australia’s competition laws, policy settings, and institutions.
The Taskforce will be supported by an expert panel with members including the CEO of the Grattan Institute, Danielle Wood, and former Chair of the ACCC, Rod Sims. It will provide continuous advice to the Australian Government rather than a once-off formal report so that progress can be made over time.
Initial issues to be considered by the review will include:
Proposals put forward by the Australian Competition and Consumer Commission around merger reform, as well as other competition law issues.
Options for coordinated reform with states and territories, are to be progressed through the Council on Federal Financial Relations.
Non-compete and related clauses that restrict workers from shifting to a better-paying job.
Providing advice on competition issues raised by new technologies, the net zero transformation and growth in the care economy.
The review will be progressed over a two-year period and will involve targeted public consultation. We expect this will allow opportunities for stakeholders to engage with the Taskforce on relevant matters.