Joel Fitzgibbon (Hunter, Australian Labor Party, Shadow Assistant Treasurer and Revenue) Share this | Hansard source

by leave—I move:

Page 3, after Schedule 1 (after line 9), insert.

Schedule 1A – Amendments to deal with abuse of market power, unconscionable conduct and price monitoring in relation to petroleum marketing

Trade Practices Act 1974

Labor’s support for the repeal of the Petroleum Retail Marketing Sites Act and the consequential Petroleum Retail Marketing Franchise Act is a great leap of faith. It is a leap of faith in the hopeful belief that an unregulated market will work better, more efficiently and more effectively than a market regulated by an antiquated piece of legislation now 26 years old, written and designed for another era. But we are not just taking a leap of faith. Our support for the Petroleum Retail Legislation Repeal Bill 2006, as indicated by the member for Batman, is predicated on the government’s indication that it will finally bring forward amendments to the Trade Practices Act which will protect consumers and of course protect this market. In other words, we do not mind an unregulated market in the modern sphere but, at the same time, we do not believe that adequate protection for small business, independent petrol station operators and consumers will be present without the strengthening of the Trade Practices Act, specifically part IV and, even more specifically, section 46.

People will not be surprised, given the events of this week, when we saw the illusion of what was being portrayed by the Prime Minister as a plan to bring petrol prices down, that, in the context of that, we are not just going to take the government at its word. This morning I have moved those amendments that Labor believe are necessary to also bring the Trade Practices Act into the modern era. This is what these amendments do. This is an unusual bill; it is a repeal bill. It gives the opposition scope to move amendments to any other bill, and that is what we have done this morning—moved appropriate amendments to the Trade Practices Act to ensure proper protections are in place. Whilst the Minister for Industry, Tourism and Resources—who is in the House at the moment—and I might disagree at the margins on what form those amendments should take, I know the minister agrees and I think the majority of the government agree. I know the Independents agree.

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