The House of Representatives Standing Committee on Economics has released the final report for its reviews of the Australian Competition and Consumer Commission (ACCC) annual reports of 2021, 2022 and 2023.
Chair of the Committee, Dr Daniel Mulino MP, said the report summarises the ACCC’s evidence to the Committee on headline competition issues over the past three years.
'As the Committee states in the report, the breadth of issues discussed at these public hearings, from fuel taxation and mergers to consumer data privacy and supermarket pricing, is testament to the ACCC’s dynamic capability and the range of areas of the economy in which it operates,' Dr Mulino said.
The report addresses competition issues including mergers and acquisitions reforms, gas markets, petrol taxes, greenwashing, the energy transition, aviation, reforms to improve competition and slot management at airports, and Australia’s highly concentrated supermarket sector.
The report also covers major consumer protection issues, including scams, data breaches and consumer data privacy, unfair contract terms, consumer protections for travellers, alleged misleading pricing claims by the major supermarkets, card payment surcharging practices, insurance industry issues, and the impact of breaches of consumer law on vulnerable customers.
Dr Mulino said 'the Committee has greatly appreciated the ACCC’s engagement throughout this parliament, across a wide range of issues,' noting that the ACCC also participated extensively in the Committee’s recent inquiry into promoting economic dynamism, competition and business formation.
Dr Mulino highlighted that recommendations from the economic dynamism inquiry had since been implemented, and 'it was satisfying to hear the ACCC’s positive reactions to those reforms through the annual reports reviews.'
He added, 'it shows how parliamentary inquiries like these do contribute to the improvement of policy, to better protect consumer welfare and enhance the economy.'
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For more information about this Committee, you can visit its website: www.aph.gov.au/economics. On the site, you can make a submission to an inquiry, read other submissions, and get details for upcoming public hearings. You can also track the Committee and receive email updates by clicking on the blue ‘Track Committee’ button in the bottom right-hand corner of the page.
