Fiona Nash (NSW, National Party, Deputy Leader of the Nationals) Share this | Hansard source

I thank Senator Williams for the question and acknowledge his long involvement on not only this issue but all issues affecting small businesses across the country. I'm delighted to stand up in the Senate today to welcome the effects test legislation, which passed in this place yesterday. Fixing section 46 of the Competition and Consumer Act has been a core mission for the coalition government in addressing a longstanding weakness in our competition laws. I am proud to say that this coalition has now delivered.

What this reform means is that our competition regulator, the ACCC, now has the powers it needs—and, in fact, told us it needed—to crack down on conduct by large companies that is likely to kill small businesses and ultimately lead to less competition. These laws are a win for consumers, small businesses and our farmers. There is simply no other way to look at it. Think of the bakery in Ballarat, the newsagent in Narromine or the small grocer in Geraldton and how they will now be protected from conduct that could threaten their viability and ultimately reduce competition for consumers in those communities. And we know how important it is to those small businesses. Not only was this important reform recommended by the Harper review; the coalition took these issues to the last election, where we sought a mandate from the Australian people. I am proud to say that we have fulfilled that promise. After all, we are a government that means what it says and does what it means.