The Albanese Government last month announced a two-year review, with the goal of launching a new wave of competition reform to stimulate economic dynamism, promote productivity, and boost wage growth.
The review was launched in response to growing concerns that big business is abusing its market position to destroy competitors and boost profits. It will be overseen by the Australian Treasury, whose members will include former ACCC chief Rod Simms.
The announcement of the competition review came as Qantas announced a record $2.5 billion profit with record margins after hiking tickets and decreasing costs.
