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

I thank the member for Moore for his question and acknowledge that he's been a champion for consumers and for cost-of-living supports throughout his time in this chamber. Many Australians are under pressure, and recent global events are adding further stress and uncertainty. The rising cost of fuel, in particular, is a major challenge. Nobody—and I mean nobody—should be trying to take advantage of the conflict in the Middle East to price gouge and profiteer. I urge all businesses to operate responsibly and to treat their fellow Australians with respect.

We are taking action to protect Australian motorists. In 2022 we increased the maximum penalty for anticompetitive behaviour fivefold to $50 million. And yesterday the Treasurer introduced legislation—after having worked with the Assistant Minister for Productivity, Competition, Charities and Treasury—which again will increase the maximum penalty the ACCC can hand down, taking it from $50 million to $100 million. Today we passed that legislation through the House.

Unfortunately, as always, the opposition has been confused and opportunistic. They said that we needed to act quickly, but now they're also claiming that we're rushing things. And it's not the first time we've heard this. Well, we make no apologies for acting swiftly on these matters.

I have a message for any fuel retailers who seek to make Australians pay more than they should: it is those who are trying to make a quick buck who will ultimately pay the most. We have also extended the ACCC's petrol price monitoring program for a further five years and ensured it can issue infringement notices where it suspects misleading conduct.

The ACCC has put the sector on notice and made clear it will not hesitate to act if laws are broken, moving quickly to safeguard supply through tightly controlled supply coordination while stepping up price surveillance and enforcement.

We know that it's not just petrol and that things can be tough. That's why our government continues to roll out responsible, targeted cost-of-living relief. This includes two rounds of further tax cuts for every Australian taxpayer, cuts to student debt, cheaper medicines and cheaper child care. We're making it easier and more affordable to see a doctor. Almost all of those measures were voted against by those opposite. We're also backing increases to minimum and award wages, delivering cheaper energy and free TAFE, and boosting government funded paid parental leave. We are closely monitoring events in the Middle East and their impact on the Australian economy. We will continue to take action to ensure that our markets operate fairly and competitively, and we will continue to roll out responsible, targeted cost-of-living relief.

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