Consumers in Durack are a step closer to lower prices; local businesses are closer to growing their business, following the release of the Competition Review final report.

The Australian Government commissioned the independent report as part of the first comprehensive assessment of Australia’s competition policies, laws and institutions in more than 20 years. The report includes 59 recommendations for improvement of Australia’s competition policy.

Member for Durack, Melissa Price said the review is aimed at reducing the cost of living for families and giving small and medium businesses the tools to succeed.

“Healthy competition can lead to lower prices at the check-out for families and local businesses becoming more competitive by reducing blocks and barriers,” Ms Price said.

“It is a sure way to raise productivity and grow our economy, ultimately leading to higher living standards, better paying jobs and improvements to our quality of life.

“The release of this independent final report is a significant step towards the Government’s election commitment of an effective competition framework to benefit consumers and businesses.”

Some of the recommendations include further freeing up retail trading hours, re-evaluating restrictive planning and zoning policies, relaxing parallel import restrictions, potentially making cars more affordable, and altering road pricing and taxes in order to fund road infrastructure.

The report by Professor Ian Harper and his panel is out for eight weeks public consultation, and citizens in Durack are encouraged to submit their views.

“It is important we get this framework right to maximise the benefits to households and minimise unnecessary restrictions on businesses innovating and adapting to new technologies and global competitive pressures,” Ms Price said.

The Minister for Small Business Bruce Billson said he will take on board the views expressed in submissions and will work with the Prime Minister, and state and territory colleagues.

“All of the reforms proposed warrant careful consideration before making any change.

“I look forward to the views of citizens on which recommendations they think would most benefit them. Each state and territory has unique circumstances, so we will need to respond to the recommendations relevant to each jurisdiction.” A full Government response will be developed by the end of this year.

The full report, together with details of the consultation process, can be found on the Treasury website: www.competitionpolicyreview.gov.au