Andrew Leigh

E&OE TRANSCRIPT
RADIO INTERVIEW
NEWS RADIO DRIVE WITH GLEN BARTHOLOMEW
WEDNESDAY, 23 AUGUST 2023

GLEN BARTHOLOMEW (HOST): Australia has one of the most concentrated economies in the world and a lack of competition is seeing many of us pay more for goods and services. As the cost‑of‑living continues to rise the Federal Government today moved to explore tougher laws to stop monopolies and protect consumers from big companies with too much market power. The Assistant Minister for Competition and Treasury Andrew Leigh announced the review today, alongside Treasurer Jim Chalmers, and he joins us now. Andrew Leigh, good afternoon.

ASSISTANT MINISTER FOR EMPLOYMENT, CHARITIES, COMPETITION AND TREASURY ANDREW LEIGH: Good afternoon, Glen, great to be with you.

BARTHOLOMEW: You've told this program in the past that you think there's just not enough competition in our economy. Is it failing consumers? Are we losing out as a result?

LEIGH: It's not just hurting consumers; it's also hurting suppliers. So you think about our farmers who are squeezed between concentrated suppliers of their fertiliser, and concentrated producers who are buying their products. You think about workers who have too few choices about where to work, particularly in regional markets, which can often mean they don't earn a fair wage. And of course to think about consumers who are hurt in areas from banking to baby food to beer, where there's often just a couple of big players. Market concentration has gotten worse over the last couple of decades. We've seen a rise in mark‑ups, we've seen a fall in the new business formation rate and in the rate of workers shifting to a better job. So all of that's the context in which we've set up this competition review aimed to take a broad approach to find practical reforms across the economy that will boost competition.

Joint media release with
The Hon Jim Chalmers
Treasurer

A MORE DYNAMIC AND COMPETITIVE ECONOMY

The Albanese Government is undertaking a review of competition policy settings to help build a more dynamic and productive economy. 

Greater competition is critical for lifting dynamism, productivity and wages growth, putting downward pressure on prices and delivering more choice for Australians dealing with cost-of-living pressures.

Australia’s productivity growth has slowed over the past decade, and reduced competition has contributed to this – with evidence of increased market concentration, a rise in markups and a reduction in dynamism across many parts of the economy.

We need to ensure our competition policy settings are fit for purpose in the face of the big shifts underway in our economy, so we can make the most of digitalisation, the growth in services, the net zero transformation, while supporting our nation’s most vulnerable.

E&OE TRANSCRIPT
RADIO INTERVIEW
6PR PERTH MONEY NEWS WITH KARALEE KATSAMBANIS
THURSDAY, 10 AUGUST 2023 

SUBJECTS: Multinational tax reform, price gouging and petrol prices, and the Royal Australian Mint winning international coin prizes,

KARALEE KATSAMBANIS: I am actually delighted to be speaking to Dr Andrew Leigh, the Assistant Minister for Competition and Charities and Treasury this evening.

Good evening, Dr Leigh.

ASSISTANT MINISTER FOR EMPLOYMENT, CHARITIES, COMPETITION AND TREASURY ANDREW LEIGH: Good evening, Karalee. Great to be back with you.

KATSAMBANIS: It’s lovely to have you back on the show. Now, one thing I love is you’re always very available to our audience. You like to keep us up to date with what is happening in the Canberra sphere of some of the causes that you are, you know, in charge of and a lot of the legislation. You wear lots of different hats in Canberra.

One of the important things that we’ve followed on this show – and I know from all your extremely hard work during the election campaign before you came to power – is the multinational tax update. It’s something that’s pretty dear to your heart as well. You’ve really seen it through. What we can tell the listeners is the legislation has passed the House with support from both the Coalition and the Greens. However, what does it actually now mean? Can you explain that for our listeners and give a little bit of a background as well just in case some of them aren’t aware of it?

E&OE TRANSCRIPT
RADIO INTERVIEW
2CC 1206 AM AFTERNOON DRIVE WITH LEON DELANEY
THURSDAY, 10 AUGUST 2023

 SUBJECTS: ACT Waterways, Volunteer Groups, Ending Loneliness Together.

LEON DELANEY: The Federal Government has announced a $3.2 million investment into improving Canberra's waterways, and Lord knows, our waterways need improvement. Assistant Minister for Competition, Charities and Treasury and Assistant Minister for Employment, and of course, most importantly our local Member for Fenner, Dr Andrew Leigh, good afternoon.

ASSISTANT MINISTER FOR EMPLOYMENT, CHARITIES, COMPETITION AND TREASURY ANDREW LEIGH: Good afternoon, Leon, great to be with you and your listeners.

DELANEY: Well, thanks for joining us. Your name is on this media release along with your colleagues, Alicia Payne, David Smith, and of course the Minister for the Environment, Tanya Plibersek. But what exactly does this $3.2 million funding mean for the waterways here in Canberra?

Treasury Laws Amendment (Making Multinationals Pay Their Fair Share—Integrity And Transparency) Bill 2023

Second Reading, Summing up speech

Wednesday 9th August 2023

Dr Leigh (Fenner—Assistant Minister for Competition, Charities and Treasury, Assistant Minister for Employment):

First, I want to thank those members who've contributed to this debate. The Australian government went to the 2022 election with commitments to tighten tax integrity and to play a meaningful part in driving international tax reforms. We made that commitment more than one year ago, and the timelines we set were to allow for meaningful consultation with affected stakeholders. That consultation has indeed taken place.

Through the exposure draft, Treasury has conducted 10 meetings with interested stakeholders, ranging from peak groups to individual firms. Since the bill was introduced, Treasury has carried out seven more consultation meetings, again, with a range of peak groups and investors. The exposure draft received 54 written submissions, and those submissions that asked to be made public have been published on the Treasury website.

More than a year on from the election, I stand here to speak in favour of a government that seeks to implement its election commitment. The measures we brought to parliament have benefited from the guidance and input of industry and civil society, but we bring these amendments to the parliament with a clear eye to the main game. For too long, multinational profit shifting has left a hole in our corporate tax revenue. For too long, artificial debt deduction mechanisms have been used and misused to allow revenue to drain away to low- or no-tax jurisdictions. When that happens, households and businesses pay more, and that's why this bill the government brings to the House is a pro-business measure.

As the member for Chisholm so articulately put it, this is about creating a level playing field across all Australian businesses. If you are a local small business just trying to make payroll, you're not thinking about how you're going to restructure your arrangements to set up a high-interest loan coming out of the Caymans so you can reduce your tax bill. If you're a regular mum-and-dad business just trying to get by, what you ask is to be placed on a level playing field with other firms. Multinational tax is complicated, but the very principles at stake in this bill are simple: do we want multinationals to pay their fair share, or do we want to allow the status quo to continue?

We have given industry over a year to prepare for these changes. The consultations have helped ensure our integrity measures are properly targeted to tighten loopholes that can be used to allow the strategic erosion of our tax base. We don't want to affect legitimate commercial arrangements. Our commitment is to shift the norms, not maintain the status quo, and that reflects the consensus embodied in the OECD/G20 process. That inclusive framework on base erosion and profit shifting has seen over 140 countries and jurisdictions collaborate on the implementation of measures to tackle tax avoidance to improve the coherence of international tax rules and to ensure a more transparent tax environment. It brings an end to the notion that we should just allow a race to the bottom in corporate taxation, with a global 15 per cent minimum floor on corporate taxation.

E&OE TRANSCRIPT
TV INTERVIEW
SKY NEWS AFTERNOON AGENDA WITH TOM CONNELL
FRIDAY, 4 AUGUST 2023

SUBJECTS: ANZ-Suncorp merger, Competition policy, Cost of living

TOM CONNELL (HOST): Joining me live now is the Assistant Minister for Competition, Charities and Treasury and Employment, Andrew Leigh, thanks for your time.

ASSISTANT MINISTER FOR EMPLOYMENT, COMPETITION, CHARITIES, AND TREASURY ANDREW LEIGH: Pleasure, Tom.

CONNELL: So blocking the move, what did you make of that?

LEIGH: Well, the ACCC has its independent job to do and the government certainly won’t be commenting on the specifics of the decision today. The parties have the option to appeal to the Australian Competition Tribunal or to the Federal Court. All we would do is thank the Australian Competition and Consumer Commission for their work in assessing this proposed merger.

More than one billion reasons to vote Yes for a Voice

The Daily Telegraph, 31 July 2023

Ancient Egypt, Greece and Rome are pretty old civilisations, but they don’t have a patch on Australia’s First Peoples. By the time those civilisations were getting started, Indigenous people had been on this continent for tens of thousands of years.

Indigenous people refer to “everywhen” to describe the connections between past, present and future. And indeed, it’s hard to get your head around the concept of a people who have been here for more than 60 millennia.

What does 60,000 years mean? If every generation lasts 30 years, this means that two thousand generations of Indigenous people have dwelt on this continent.

CHARITIES COMMISSION ADVISORY BOARD APPOINTED

The Government is pleased to announce eight appointments to the Australian Charities and Not‑for‑profits (ACNC) Advisory Board.

The ACNC Advisory Board supports and advises the ACNC Commissioner.

Late last year, the Government sought applications from members of the charity sector to join the ACNC Advisory Board.

E&OE TRANSCRIPT
TV INTERVIEW
SKY NEWS AFTERNOON AGENDA WITH TOM CONNELL
WEDNESDAY, 26 JULY 2023

SUBJECTS: Inflation figures, Energy bill relief, Transition to renewables, Increasing housing supply.

TOM CONNELL (HOST): Joining me now for more on this is Andrew Leigh, Assistant Minister for the Treasury. Thank you very much for your time here in the studio, of course.

ASSISTANT MINISTER FOR EMPLOYMENT, COMPETITION, CHARITIES, AND TREASURY ANDREW LEIGH: Pleasure, Tom.

CONNELL: Inflation, 0.8 per cent for the quarter is a big figure here, it's barely above the target band, if it's annualised. Is the case for another rate hike greatly diminished after that figure?

LEIGH: Well, that'll be entirely up to the Reserve Bank and its board, Tom, but it’s certainly welcome news for households. Remember the peak of inflation was in the Coalition's last quarter in office. We had that quarterly figure of 2.1 per cent inflation. This figure of 0.8 per cent is less than half of that figure. So, warmly welcomed. Still annualised over the year, we're at 6 per cent, a little down from the 7.8 per cent we were at, but yet to come within the target band. As a government, we're focused on what we can do. Cheaper energy, cheaper childcare, ensuring we're providing that rental relief to households and cheaper medicines. Not only the reforms from January but also the reforms that will come into effect in September that will allow people to get two months supply in one go.