On 1 December 2023, Australia’s treasurers agreed to revitalise the National Competition Policy, committing to develop a long-term pro-competitive reform agenda through the Council on Federal Financial Relations.
The original National Competition Policy, established in 1995, underpinned an ambitious reform agenda that modernised Australia’s economy, strengthening its resilience in the face of global economic change through the late 1990s and 2000s.
We now need substantial changes to competition policy to support a cost-effective net zero transition, embrace the opportunities of the digital economy and the growth in human services, enhance consumer wellbeing, and support Australia’s most vulnerable.
“The review of the National Competition Policy is an important opportunity for us to re-prosecute for the changes we want, but this time through a distinct competition lens. Our reforms can unlock greater productivity, promote innovation and choice, and restore balance to the contractual relationships across procurement supply chains,” says Consult Australia’s Head of Policy and Government Relations, Kristy Eulenstein.
Consult Australia is supportive of the National Competition Policy Principles and National Competition Policy Reform Agenda, and has made 16 recommendations across these five themes: