ACCC to front House economics committee in Canberra

THE House of Representatives Standing Committee on Economics will commence biannual public hearings with the Australian Competition and Consumer Commission (ACCC).

This process is similar to that used by the committee to review the RBA and APRA which are also scrutinised and held to account by the committee at biannual public hearings.

Committee Chair, Mr Craig Laundy said,“The ACCC has a vital role in promoting competition, fair trading and regulating national infrastructure for the benefit of all Australians. The ACCC’s role in promoting competition is particularly important as our economy transforms and rebalances activity following on from an enormous mining construction boom.”

The hearings will provide an opportunity for the committee to scrutinise the ACCC on its core objectives including how it maintains and promotes competition and remedies market failure, protects the interests and safety of consumers and supports fair trading in markets, and promotes the economically efficient operation and investment in monopoly infrastructure.

The committee notes the work of the Harper review into competition policy. The work is timely and heralds a new phase in competition policy which will help promote innovation, increase investment and help raise Australia’s productivity levels.

The first public hearing with the ACCC will be held in Canberra on Friday, 26 February 2016 with the full details shown below.

Public Hearing Details

Committee: House of Representatives Economics Committee
Venue: Committee Room 1R4, Parliament House, Canberra
Date: Friday, 26 February 2016
Time: 9.30am to 12.30pm

Webcast: The hearing will be webcast  http://webcast.aph.gov.au/livebroadcasting/

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