Better Competition

An Albanese Labor Government will give a boost to businesses that play fair, ease the cost of living and help drive down prices for Australian families by tackling anti-competitive behaviour.

Why do we need this?

Better competition means cheaper prices.  

With the costs of living rising faster than your pay, competition and cheaper prices are more important than ever. But under the Liberals, too many businesses and consumers still face rip offs and activity that sabotages honest competition. 

When power companies lie to customers about the reason their charge is going up, or when booking platforms only pretend to show their best deals, it's Australian consumers who pay the price.  

We want to see businesses who provide great service, respect their customers and develop valuable products rewarded.  

But when they’re up against companies that have found ways to boost profits by doing the opposite, good businesses fall behind, new players can’t get a start and customers ultimately pay more and get less choice. 

Labor will ensure that anti-competitive conduct is deterred by putting in place stronger penalties. 

The details

An Albanese Labor Government will strengthen Australia’s competition laws by increasing penalties for anti-competitive behaviour, ensuring the price for misconduct is high enough to deter unfair activity that takes money out of Australian families’ pockets. 

By increasing the maximum fine from $10 million to $50 million, Labor would bring Australia’s penalties closer to international best practice.  

Labor’s changes will not only be good for consumers but will also support the majority of Australian businesses that are playing fair. There’s nothing worse than playing by the rules against a competitor who’s doing the wrong thing because they’re not scared of the penalties. 

Alongside increasing penalties, Labor will move to establish a ‘Super Complaint’ function within the Australian Competition and Consumer Commission.  

This measure will mean trusted consumer groups, such as CHOICE, and business sector advocates will be able to enlist the competition regulator to investigate serious complaints of behaviour that’s hurting Australians. 

This will ensure the competition commission is even more responsive to the needs of Australian consumers and Australian businesses.