From the supermarket shelf to your electricity bill, competition shapes the choices we have and the prices we pay. When markets are competitive, businesses are pushed to offer better services, lower prices, and more innovation. But when competition is weak or distorted, consumers lose — paying more for less, and having fewer choices.
That’s why competitive markets aren’t just an economic issue — they’re a consumer rights issue, and a key part of tackling cost of living pressures and boosting living standards for all Australians.
What’s the Problem?
In recent years, Australia has seen increasing market concentration across key sectors — from banking and telecommunications to supermarkets and digital platforms. When a few major players dominate, it’s harder for new or smaller businesses to compete, and easier for big companies to raise prices or reduce quality with little accountability.
At the same time, the regulatory tools designed to protect competition haven’t kept pace with the growing power of some corporations.
What Needs to Change
To build a fairer economy that works for everyone — not just the biggest companies — the Consumers’ Federation of Australia (CFA) is calling on the Australian Government and the 48th Parliament to take strong action on the following:
1. Reform Mergers and Acquisitions Law
Current laws make it too easy for big businesses to merge or acquire competitors without proper scrutiny. Reforming merger and acquisition laws will protect competition and empower and ensure appropriate oversight and scrutiny of market consolidation. The Australian Competition and Consumer Commission (ACCC) needs stronger oversight powers to assess and block mergers that reduce competition, raise prices, or limit consumer choice.
2. Give Regulators More Power
The ACCC and other regulators need modern powers to hold companies accountable — including the ability to initiate market studies and compel businesses to provide information. These tools are essential for understanding how markets really work and identifying where consumers are being harmed.
3. Reform Regulatory Assessment Through the National Competition Partnership Agreement
The way we assess new regulations must change. Right now, competition and consumer outcomes aren’t always front and centre in policy-making. CFA is calling for reforms to the National Competition Partnership Agreement so that consumer benefits — like lower prices, better services, and more choice — are considered as key outcomes in every assessment.
Why This Matters to You
When markets are competitive:
- You pay less for everyday goods and services.
- New and innovative products are more likely to emerge.
- Businesses are more responsive to your needs.
- Power is more balanced between companies and consumers.
But when competition fails the cost of living rises, choices shrink, and consumers lose control.
It’s Time to Level the Playing Field
Creating competitive markets isn’t just good economics — it’s good public policy, and vital to ensuring that every consumer gets a fair deal.
The Consumers’ Federation of Australia urges the incoming Government to take bold action now, so we can all benefit from a fairer, more dynamic economy.