Bruce Billson (Dunkley, Liberal Party, Shadow Minister for Small Business, Competition Policy and Consumer Affairs) Share this | Link to this | Hansard source

We have seen a new economic principle opened up by the Gillard government, and that is economic comatose. We heard the previous Labor government claim to be economic conservatives, and we found that not to be true. But a new paradigm has emerged, and it is economic comatose. We see example after example where the government needs to act, and I commend my friend and colleague the shadow Treasurer’s speech to the Australian Industry Group, identifying deficiencies in section 45 as it deals with collusive behaviour. I do not know what it is about Labor. They have heard over and over again from the ACCC that those collusive powers that help to ensure a competitive economy have not been up to the mark. Graeme Samuel, the head of the ACCC, has made that point over and over again. His focus may well have been on petrol pricing, and the impact of price signalling to the disadvantage of consumers, but the opposition Treasury spokesperson has made it clear that this also has relevance in the banking industry. We look further and we see areas such as the consumer law, about to be introduced on 1 January, yet no-one knows what that the regulations will ultimately look like. How is the Australian economy, particularly small business, expected to get a go when these guys just don’t care?

Harry Jenkins (Speaker) Share this | Link to this | Hansard source

Order! It being 2 pm in accordance with standing order 43 the time for members’ statements has concluded.