Kerry Schott AO

Kerry Schott was awarded the Order of Australia in 2015 for service to business and commerce in private and public sector finance, and leadership of government infrastructure projects.

BA (first class honours) University of New England
Master of Arts (University of British Columbia)
Doctorate in Economics (Nuffield College, Oxford)

Rod Sims AO

Rod Sims is the former Chair of the ACCC (2011-2022).

He holds a Bachelor of Commerce (Hons (first class)) from the University of Melbourne and a Master of Economics from ANU.

Prior to his appointment as Chair of the ACCC he had worked for the Australian Government, including as the Deputy Secretary in the Department of Prime Minister and Cabinet and Deputy Secretary responsible for Transport in the Department of Transport and Communications. From 1988 to 1990, he was the economic adviser to the then Prime Minister, Bob Hawke.

Danielle Wood

Danielle Wood is Chair of the Productivity Commission (at time of announcement, she was CEO of the Grattan Institute)

“Danielle previously worked in senior roles at the ACCC and at NERA Economic Consulting. She started her career as a graduate at the Productivity Commission.

Danielle holds an Honours degree in Economics from the University of Adelaide and two Masters degrees, one in Economics and one in Competition Law, from the University of Melbourne.”

John Asker

Professor of Economics

Armen A Alchian Chair in Economic Theory
University of California, Los Angeles

View John Asker website

Sharon Henrick

Competition Lawyer

Formerly head of King & Wood Mallesons’ Competition and Regulatory Group.

David Gonski AC

Chancellor of the University of New South Wales, Chairman of Barrenjoey and President of the Art Gallery of NSW Trust.

Previously Chairman of ANZ Banking Group, a member of the Takeovers Panel, and led the Commonwealth’s Review to Achieve Educational Excellence in Australian Schools.

John Fingleton CBE

Economist

Former Chief Executive of the UK’s Office of Fair Trading and previously ran the Irish Competition Authority.

Previously chaired the ICN and has been a member of the OECD Competition Committee.

A more dynamic and competitive economy

23 August 2023: Media release announcing the review

Joint media release with
The Hon Andrew Leigh MP
Assistant Minister for Competition, Charities and Treasury
Assistant Minister for Employment

The Albanese Government is undertaking a review of competition policy settings to help build a more dynamic and productive economy.

Greater competition is critical for lifting dynamism, productivity and wages growth, putting downward pressure on prices and delivering more choice for Australians dealing with cost-of-living pressures.

Australia’s productivity growth has slowed over the past decade, and reduced competition has contributed to this – with evidence of increased market concentration, a rise in markups and a reduction in dynamism across many parts of the economy.

We need to ensure our competition policy settings are fit for purpose in the face of the big shifts underway in our economy, so we can make the most of digitalisation, the growth in services, the net zero transformation, while supporting our nation’s most vulnerable.

The review will look at competition laws, policies and institutions to ensure they remain fit for purpose, with a focus on reforms that would increase productivity, reduce the cost of living and boost wages.

A Competition Taskforce has been established in Treasury to conduct the review, which will be progressed over two years and involve targeted public consultation. It will provide continuous advice rather than a formal report, so progress can be made over time.

Initial issues to be considered by the review will include:

• proposals put forward by the Australian Competition and Consumer Commission around merger reform, as well as other competition law issues

• options for coordinated reform with states and territories, to be progressed through the Council on Federal Financial Relations

• non-compete and related clauses that restrict workers from shifting to a better-paying job

• providing advice on competition issues raised by new technologies, the net zero transformation and growth in the care economy

The Taskforce will be supported by an expert panel with members including the CEO of the Grattan Institute, Danielle Wood, and former Chair of the ACCC, Rod Sims.

The Intergenerational Report, to be released this week, will highlight the critical role of competition for revitalising productivity growth.

The importance of competition for strong labour market outcomes will be further explored in the forthcoming Employment White Paper.

The review builds on the Albanese Government’s existing efforts to boost competition, including through our reforms of the payments system and Australia’s financial market infrastructure.

The Albanese Government is focused on tackling cost of living pressures now and laying the foundations for future growth – and making our economy more competitive is critical to both of these goals.

© Commonwealth of Australia: reproduced under Creative Commons BY Attribution 3.0 Australia licence

Other media releases

The Hon Dr Andrew Leigh MP, ‘New data shows 1 in 5 Australian employers used non‑compete clauses’ (21 February 2024)

Opinion pieces

The Hon Dr Andrew Leigh MP, ‘Chocolate, cartels and competition’ (The Daily Telegraph, 30 January 2024)

The Hon Dr Jim Chalmers MP, Nation's productivity demands fairness in merger process (The Australian, 20 November 2023)

Speeches

The Hon Dr Andrew Leigh MP, ‘Game changer: harnessing microdata for a fairer competition landscape’ (Address to the Chifley Research Centre, Melbourne, 30 January 2024)

Merger reform

Roundtables and individual consultations also took place with interested parties during December 2023 along with a general call for submissions.

The ACCC also released their preliminary and second submission:

• View ACCC, Submission to Treasury on ACCC preliminary views on options for merger control processes (20 December 2023)

• View ACCC, Second Submission to Treasury Competition Taskforce on Merger Reform (31 January 2024)

Non-compete clauses and other restraints

On 4 April 2024 the Government released an Issues Paper and fact sheet relating to non-competes, no-poach and wage-fixing agreements. Consultation is open until the end of May 2024.