Federal Member for Hume Angus Taylor says the Turnbull Government is backing Hume small business and consumers by safeguarding competition.

Mr Taylor has welcomed the Government’s plan to legislate changes to the Competition and Consumer Act (2010), to amend the market power provision in Section 46, by including an ‘Effects Test’, stating that:

“A corporation that has a substantial degree of power in a market shall not engage in conduct if the conduct would have the purpose, or would have or be likely to have the effect of substantially lessening competition in that or any other market.”

Mr Taylor said the government was backing everyone who wanted to have a go. “We are unashamedly pro-competition. The Effects Test better protects consumers and small businesses from big companies behaving badly.”

Goulburn accountant Joanne McCauley has welcomed the proposed change, saying small businesses need clarity in legislation. “They do not have the time or money to fight legal interpretations in court.  Anything that helps small business or regional communities compete on a fair playing ground is good for Australia,” she said.

Mr Taylor said safeguarding competition would drive jobs, growth and investment in Hume. “We have more than 14,000 small businesses in my electorate who will be better off because this government is protecting their right to compete.

“All Labor wants to do is hand more power and protection to its union mates, at the expense of small operators.”

Mr Taylor said the Government’s response to the recommendations from the Competition Policy Review (Harper Review) would set out a competition agenda to boost innovation, open up new markets, and ultimately lead to increased choice for consumers.

He said the change to Section 46 was just one of many initiatives the Government was implementing to support small business, including extending protections against unfair contract terms, reviewing regulations including licensing and standards, and introducing the first Small Business and Family Enterprise Ombudsman.