Andrew Leigh

TIM HAMMOND MP

SHADOW MINISTER FOR CONSUMER AFFAIRS

SHADOW MINISTER ASSISTING FOR RESOURCES

 MEMBER FOR PERTH

ANDREW LEIGH MP

SHADOW ASSISTANT TREASURER

SHADOW MINISTER FOR COMPETITION AND PRODUCTIVITY

SHADOW MINISTER FOR CHARITIES AND NOT-FOR-PROFITS

SHADOW MINISTER FOR TRADE IN SERVICES

MEMBER FOR FENNER 

SCOTT MORRISON NEEDS TO LISTEN TO LABOR AND HIS OWN EXPERTS

 Labor welcomes the release of the Productivity Commission’s interim report into Consumer Law Enforcement and Administration.

It is the most recent example of expert support for Labor’s policy to increase penalties for companies that breach the Australian Consumer Law.

In April this year, Rod Sims, Chairman of the Australian Competition and Consumer Commission, said;

“(W)e do have general concern about penalties under the Australian Consumer Law as not being adequate to give the right amount of deterrence.” 

In May, Labor announced that we would bring the penalties in-line with the competition provisions of the Competition and Consumer Act 2010 and:

“(R)aise the maximum penalties from $1.1 million to $10 million because scammers and shonks shouldn’t be able to profit from ripping off Australian consumers”.

The Consumer Affairs Australia and New Zealand’s interim report of the Australian Consumer Law released in October suggested increasing:

“(M)aximum financial penalties available under the (Australian Consumer Law), for example, by aligning them with the maximum penalty available under the competition provisions of the Competition and Consumer Act 2010.” (p.180)

This week, the Productivity Commission has agreed that there is strong case for increasing maximum financial penalties for breaches of the ACL, and made a draft finding that:

“Australian Governments should increase maximum penalties for breaches of the ACL. They should consider the option, being examined by CAANZ, of aligning them with the penalties for breaches of competition provisions in the Competition and Consumer Act 2010.” (p.123)

The evidence keeps rolling in while Scott Morrison’s silence has worn too thin.

Strong competition laws are at the heart of driving economic growth and fairness in Australia. Increasing these penalties will help ensure Australia’s competition laws are as strong as possible, which helps consumers, raises productivity and boosts living standards.

It is time for the Turnbull Government to rise above its dysfunction and chaos and start listening to Labor as well as its own experts, rather than looking after multinationals.

THURSDAY, 8 DECEMBER 2016

 MEDIA CONTACTS:         

BRENDAN MCSHANAG (HAMMOND) 0407 619 286

TAIMUS WERNER-GIBBINGS (LEIGH) 0437 323 390