All governments across Australia understand that increasing competition and dynamism is good for businesses, good for consumers and good for the economy; and that they have a role to play in boosting competition. This joint consultation paper is an important step in surfacing new ideas and reinforcing existing shared competition principles to ensure there’s a shared understanding of the way forward to revitalise National Competition Policy.

Australian, state and territory treasurers have agreed to work together to develop options for long‑term pro‑competitive reforms. Treasury is seeking feedback on the 3 potential elements of a revitalised National Competition Policy (NCP):

• National Competition Principles: how can the National Competition Principles be revitalised to address contemporary competition issues?
• National Competition Reform Program: do the proposed reform themes reflect the key areas of existing or emerging competition issues, and what are the key reforms that should be considered?
• Institutions and Governance: what institutional and governance frameworks would best support NCP?

Call for responses close 23 September 2024.