In short
Treasury provides advice on policy and regulation to promote competitive and efficient markets.
For consumers, this can help lower prices and increase choice. For workers, this can encourage higher wages.
Competition policy can promote trade and investment. It reduces barriers to entering and exiting markets. It can also increase productivity.
Regulators
Two national regulators enforce competition law in Australia.
Australian Competition and Consumer Commission
The Australian Competition and Consumer Commission (ACCC) enforces the Competition and Consumer Act 2010 (CCA).
Visit:
- the Federal Register of Legislation website to view the CCA
- the ACCC website to read about competition and anti‑competitive behaviour
National Competition Council
The National Competition Council (NCC) makes recommendations on regulating third party access to services provided by monopoly infrastructure.
Monopoly infrastructure includes government and non‑government owned infrastructure that provides essential services such as water, energy and transport.
Visit the NCC website
National competition policy
In 2024 Commonwealth, state and territory treasurers signed an agreement that will deliver a 10‑year reform of National Competition Policy (NCP).
Announcements
29 November 2024
- Joint release with Treasurer, the Hon Dr Jim Chalmers MP and the Hon Rita Saffioti MLA, WA Deputy Premier, WA Treasurer, Chair of Board of Treasurers – National agreement to revitalise competition – for consumers, businesses and our economy