Australia: Minister distances himself from rumored competition law overhaul

Australia’s Small Business Minister Bruce Billson is reportedly distancing himself from one set of proposed reforms for competition regulation ahead of a review, assuring reporters that authorities have not yet decided on one plan for the changes.

Calls to revise competition laws emerged following a review lead by Ian Harper earlier this year. Harper is reportedly slated to release a draft report within a few weeks.

Since, reports have speculated divisions within the cabinet on how to overhaul competition laws.

But Billson said that while there remain differences in interests for the rule changes, overall regulators are committed to boosting economic growth and cracking down on market dominance abuses.

”We recognize that a range of interests, including some strongly held vested interests, will seek to influence the panel’s deliberations,” Billson said. “But we’ve chosen a high level panel with rigor and objectivity as their key strengths.”

Full content: The Australian

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.