In a major micro-economic reform that delivers for consumers and business, Consumer Affairs Minister Dr Craig Emerson announced today that the Australian Government had reached agreement with the States and Territories on the final form of the Australian Consumer Law.
Dr Emerson welcomed the breakthrough at the Ministerial Council on Consumer Affairs (MCCA) which met in Perth.
The Australian Consumer Law, which is one of the top priorities in COAG’s Business Regulation and Competition Working Group’s work to deliver a seamless national economy, will rationalise the myriad national, State and Territory consumer laws.
Today, MCCA agreed to the final features of the Australian Consumer Law including a new national product safety regime.
Dr Emerson said that the Australian Consumer Law will replace inconsistent and duplicative law in 18 Acts now in force across Australia.
Thee Productivity Commission estimates the national benefits of these reforms at up to $4.5 billion a year, making the Australian Consumer Law one of the most important of the 27 reforms of business regulation designed to move Australia towards a seamless national economy.
“The Australian Consumer Law will provide strong protection for consumers, while minimising business compliance costs,” Dr Emerson said.
Dr Emerson thanked the Chair of the Ministerial Council on Consumer Affairs, Troy Buswell and his State and Territory Consumer Affairs Ministerial colleagues for their commitment to and cooperation in delivering this major win for consumers and business.
The MCCA Communique is available at www.consumer.gov.au