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Big Tech, ALDI, OECD, Qantas, econveyancing, and financial sector in Economics Committee spotlight

Department of the House of Representatives 2 mins read

Apple, Amazon, Google, Meta and the OECD are among the organisations appearing over three days of hearings next week for the House Standing Committee on Economics’ inquiry into promoting economic dynamism, competition and business formation.

Committee chair Dr Daniel Mulino MP said that competition experts from the Organisation for Economic Co-operation and Development would provide an interesting international perspective on key competition issues at Tuesday's hearing.

The committee will also explore with the e61 Institute the prevalence of non-compete clauses and their effect on labour mobility and competition.

“A recent survey showed that one in five Australian workers is subject to non-compete clauses, which suggests they are just as prevalent as in the United States, where it is proposed to ban such clauses,” Dr Mulino said.

“It appears that such clauses are increasingly being used in ways other than intended – which is to protect legitimate business interests. The effect can be to stifle job mobility, which flows on to wages and productivity growth.”

To round off its examination of the major supermarkets, the committee will hear from ALDI.

Lion Australia and Carlton & United Breweries will also give evidence. The committee has previously heard evidence that Australia’s beer market is highly concentrated.

On 29 August, the committee will hear from big tech players, including Google, Apple, Meta and Amazon, and Qantas, which will complete the committee’s engagement with major stakeholders in the aviation sector.

Electronic conveyancing will also be on the agenda: Sympli will give evidence on 28 August while PEXA will appear on 29 August. The committee will also hear from Marriott Support Services on dynamism in care services.

On 31 August, the committee will delve further into the financial sector, with peak body the Australian Banking Association, Australian-based investment manager Adamantem Capital, and the FinClear Group, an independent technology and infrastructure provider for financial markets giving evidence.

The committee will also seek the Minerals Council of Australia’s views on key economic dynamism and competition themes in the resources sector.

More details about the inquiry, including the full terms of reference, are available on the committee’s website.

Public hearing details

Date: Monday 28 August 2023
Time: 9.30 am to 2.30 pm AEST
Location: Videoconference

Date: Tuesday 29 August 2023
Time: 9.00 am to 5.00 pm AEST
Location: Videoconference

Date: Thursday 31 August 2023
Time: 9.00 am to 2.45 pm AEST
Location: Videoconference

The public hearing will be broadcast live at https://www.aph.gov.au/live.

Media inquiries

Committee Chair, Dr Daniel Mulino MP
02 6277 4311
Daniel.Mulino.MP@aph.gov.au

For background information

Committee Secretariat
02 6277 4587
economics.reps@aph.gov.au

For more information about this committee, visit its website. On the site, you can read submissions, and get details for upcoming public hearings. You can also track the committee and receive email updates by clicking on the blue ‘Track this Committee’ button in the bottom right-hand side of the page.

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