Daniel Mulino (Fraser, Australian Labor Party, Assistant Treasurer) Share this | Hansard source

I thank the member for McEwen for his question, and I acknowledge his long history in the transport sector and his advocacy for that sector and the workers in it. The Albanese government is firmly focused on protecting Australian consumers and maintaining economic stability at a time of heightened global volatility. Australia enters this period from a position of strength. Our economy is resilient, our banking system is well capitalised and we are well placed to withstand the impacts of volatile global markets.

We know that many Australians are under pressure, in particular given recent shocks to energy prices, which is why our government continues to roll out responsible, targeted cost-of-living relief. This includes two further tax cuts for every Australian taxpayer, cutting student debt, cheaper medicines, cheaper child care and making it easier and more affordable to see a doctor. We're also backing increases to minimum and award wages, delivering cheaper energy and free TAFE and boosting government funded paid parental leave. Our plan is about easing the cost-of-living pressures now while also building stronger, fairer and more competitive markets for the future.

On 11 March, the Treasurer, the Minister for Climate Change and Energy and the Assistant Minister for Productivity, Competition, Charities and Treasury announced a major consumer protection package, doubling penalties for false or misleading conduct and cartel behaviour to $100 million per offence. This is a tenfold increase since we came to government. The government is also directing the ACCC to step up weekly fuel-price monitoring and working with industry to boost fuel supply, including supporting ACCC authorisation to coordinate supply where needed.

The ACCC have held an emergency meeting with fuel companies, pressing them to explain recent rapid price increases and provide detailed supply-chain information that the ACCC will now scrutinise. The regulator again warned the sector against any collusive, anti-competitive or misleading conduct. On 19 March, the ACCC launched an enforcement investigation into alleged anti-competitive conduct by Ampol, BP, Mobil and Viva Energy following reports about diesel availability for independent wholesalers in regional and rural areas. The ACCC has also urgently authorised fuel suppliers to coordinate supply with conditions that prioritise independent distributors and protect fuel access for regional communities.

We are strengthening competition across the economy, from cracking down on unfair trading practices in the supermarket sector and strengthening unit-pricing laws to investing in food security in remote communities. We know many people are doing it tough. That's why we're working to ensure Australian consumers, no matter where they live, benefit from fairer prices, more transparent markets and stronger competition across the entire economy.

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