Martin Ferguson (Batman, Australian Labor Party, Shadow Minister for Primary Industries, Resources, Forestry and Tourism) Share this | Hansard source

I rise to speak in support of the amendment moved by the member for Hunter. In doing so, can I firstly echo the comments made by the member for Hunter. Not only has the Labor Party taken the government on trust but also, perhaps more importantly, has the Australian community. We all accept, as the Minister for Industry, Tourism and Resources said in his second reading speech, that the fuel market in Australia has changed dramatically in recent times with the entry of the major retail chains Coles and Woolworths. It has taken the government many years and many ministers to finally bring forward this legislation. The opposition has always been supportive of trying to work out a modern structure for an entirely different industry from that which existed when the legislation before the House was first approved. In that context and further to the comments by the member for Hunter with respect to the Trade Practices Act, on behalf of the opposition, the Independents and the Australian community, I remind the government of undertakings given in negotiations around this package with respect to other changes to the Trade Practices Act for which we need public reaffirmation today.

The undertaking was that the government accepts a need to introduce further reform to the Trade Practices Act, to implement its response as soon as is practicable not only to the Dawson report but also to a range of other aspects of the act. These include, firstly, to provide that a corporation must not take advantage of a substantial degree of power in that or in any other market; secondly, to provide that, for the purposes of determining the degree of the power that a corporation has in a market, the court may have regard to any market power the corporation has that results in contracts, arrangements or understandings with others; thirdly, to include two new elements to be considered in relation to a breach of section 46 which could include whether a corporation was selling relevant goods or services at a price below cost and whether a corporation had a reasonable prospect or expectation of recoupment, that is, to recover the losses it suffered by selling at a price that is below cost. In that context, the opposition has been willing to support the endeavours of the government.

In those negotiations, I have dealt at first hand with the Minister for Industry, Tourism and Resources. As a former trade union official, I have always operated on the basis that a shake of the hand must be honoured. I therefore have respect for and accept his word. It is more important—because ministers and shadow ministers come and go—that these requirements as to specific further amendments are recorded publicly as an expression of a view and acceptance by government and opposition as to what is to be done. I seek that undertaking and will then seek to make some additional comments with respect to the amendment moved by the member for Hunter.

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