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
TIM HAMMOND MP
SHADOW MINISTER FOR CONSUMER AFFAIRS
SHADOW MINISTER ASSISTING FOR RESOURCES
FEDERAL MEMBER FOR PERTH
ROD SIMS BACKS LABOR’S CALL FOR HIGHER PENALTIES, AGAIN
Labor welcomes yet another call from Rod Sims, the Chairman of the Australian Competition and Consumer Commission, for an increase in the penalties for companies that breach the Australian Consumer Law.
In 2016, Labor announced that we would;
“Increase civil penalties under the Australian Consumer Law from $1.1 million to $10 million, bringing penalties in-line with the competition provisions of the Competition and Consumer Act 2010.”
– Andrew Leigh, 15 June 2016
In yesterday’s speech to the National Consumer Congress, Mr Sims cited recent messages from the Federal Court that penalties must be high enough to sufficiently deter misconduct, especially as some big companies continue to treat their customers “so badly, and with so little respect.”
“Penalties should be seen as more than just a cost of doing business…Where the Court finds contraventions, it’s vital that large companies are held to account, but the penalties must make them sit up and take notice.”
– Rod Sims, 15 March 2017
The Productivity Commission and Consumer Affairs Australia and New Zealand have also favorably discussed increasing maximum financial penalties for breaches of the Australian Consumer Law.
The review of the Australian Consumer Law will be handed down shortly. Surely it’s time for the Turnbull Government to start looking after consumers by listening to Labor and its own experts, instead of protecting multinationals.
Increasing penalties for ripping off consumers ensures Australia’s competition laws are as strong as necessary, which helps families, raises productivity and boosts living standards.
THURSDAY, 16 MARCH 2017
MEDIA CONTACTS: TAIMUS WERNER-GIBBINGS (LEIGH) 0437 320 393
BRENDAN MCSHANAG (HAMMOND) 0407 619 286