Peter Costello (Higgins, Liberal Party, Treasurer) Share this | Hansard source

I thank the honourable member for Stirling for his question. I can tell him that shortly before two o’clock today the Senate passed amendments to the trade practices law, which will mean that today is a great day for 1.2 million small businesses throughout Australia. These reforms will make it easier for small business to notify and collectively bargain. They will make it simpler and less costly. They will increase the powers of the ACCC, giving it the ability to search premises and seize evidence. These reforms will also increase fines for anti competitive behaviour so that the fine can be three times the economic gain a corporation could make through breaching the act.

These reforms have been supported by all the significant small business organisations—for example, COSBOA, whose CEO, Tony Steven, said recently:

The cooperation between the many sectors of small business and the government is at its highest level.

Unfortunately, the Labor Party voted against these reforms twice in the House and twice in the Senate, and they brought truth to the claim of the Leader of the Opposition that the ALP has never claimed to be a party of small business. His 6PR claim that the ALP has never claimed to be part of small business has been borne out.

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