Competition law changes in consumers’ long-term interests
The government will implement an ‘effects test’ into competition law.
This means that the effect of a corporation’s action cannot be anti-competitive. Previously, it was down to the purpose of the action.
The Minister for Small Business Kelly O’Dwyer told Tom Elliott it is in the long-term interests of consumers.
‘It’s not big versus small, but whether or not the effect of the behaviour is substantially lessening competition,’ Ms O’Dwyer said.
Click play to hear the full story
But finance guru Scott Haywood said the government shouldn’t get involved in pricing.
‘They own Australia Post and they’ve almost stuffed that up,’ he said.
He said consumers are trending toward convenience over price now anyway.
Click play to hear his thoughts