Don Farrell (SA, Australian Labor Party, Minister for Trade and Tourism) Share this | Hansard source

I'd like to extend my thanks to those senators who have contributed to this debate and to the members of the Senate Economics Legislation Committee for their consideration of the bill. The Competition and Consumer Amendment (Fair Go for Consumers and Small Business) Bill 2024 forms part of the government's better competition election commitment, which is designed to increase competition and ensure that the government is responsive to the needs of Australian consumers and small businesses.

The bill establishes a new designated complaints function within the Australian Competition and Consumer Commission. Designated complaints will be able to submit a complaint to the ACCC regarding a significant or systematic market issue affecting consumers or small businesses in Australia. The ACCC will be required to assess and respond to the complaint within 90 days, outlining what action, if any, they intend to take. The bill received broad support from consumer groups and other stakeholders as a mechanism to support greater competition and improved outcomes for consumers and small businesses. The Senate Economics Legislation Committee has endorsed the bill as a means of empowering consumers and small business advocates and recommends that the bill be passed.

Coalition senators recommended the government legislate for a postimplementation review of the scheme after a period of two years. The government is a strong believer in effective evaluation and is willing to back this commitment in legislation. The government-supported amendments provide for an independent review of the scheme as soon as practicable 24 months after the commencement of the bill, with the report to be tabled in parliament at the conclusion of the review. I commend the bill to the Senate.

Question agreed to.

Bill read a second time.