Labor vows to shake up ‘cosy monopolists’ with fines of up to $50m for anti-competitive behaviour

Andrew Leigh says stopping ‘excessive market concentration’ is key to lifting competition to benefit workers and consumers * Follow our Australia news live blog for the latest updates * Get our free news app, morning email briefing and daily news podcast Australia’s economy needs a shake-up to ensure “cosy monopolists” don’t dominate the market, with the new minister for competition, Andrew Leigh, pledging to legislate tough new penalties of up to $50m for anti-competitive behaviour. With stagnant wages growth and high inflation identified as key priorities for the new Albanese government, Leigh says preventing “excessive market concentration” will be a key focus of his role to encourage more competition to the benefit of both workers and consumers. Sign up to receive an email with the top stories from Guardian Australia every morning Continue reading...
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