SENATOR DEAN SMITH
SHADOW ASSISTANT MINISTER FOR COMPETITION, CHARITIES AND TREASURY
SENATOR FOR WESTERN AUSTRALIA
MEDIA RELEASE
22 November 2024
FIGHTING FOR IMPROVED COMPETITION WHERE LABOR WON’T
The Coalition is putting pressure on a key competition issue in the e-conveyancing market that – like so much else impacting Australian consumers – the Albanese Government continues to ignore.
Coalition competition spokesman Senator Dean Smith last night questioned ACCC officials on what action was being taken to test allegations of anticompetitive behaviour by e-conveyancer PEXA.
The officials, including Chair Ms Gina Cass-Gottlieb, were witnesses at a Senate Estimates spillover hearing in Canberra.
It was revealed that there is an active assessment underway by the competition watchdog, something that will be of considerable interest to stakeholders in the $800 billion property e-conveyancing market – even if it obviously isn’t to Assistant Competition Minister Andrew Leigh.
Ms Melinda McDonald, Competition Division Executive General Manager, noted that while she “wouldn’t characterise it as an in-depth investigation at this stage … naturally the concerns warrant further investigation”.
Pressed by Senator Smith, Ms McDonald confirmed the ACCC is still “in the process of gathering relevant information in order to complete the assessment”.
It follows months of stakeholder lobbying of both the Albanese and State Governments to explore the issue, as well as to co-operate on initiatives and reforms to improve competition in the sector – all of which has fallen on deaf ears with Federal Labor.
Quotes attributable to Senator Dean Smith:
“The Coalition asks the questions that the Albanese Government won’t, because only we are committed to enhanced competition in the Australian economy and the choice, lower prices and better service that delivers.”
“We will continue to shine a light on sectors where competition can be improved and await the outcome of the ACCC’s assessment with great interest.”
“In the meantime, Assistant Minister Leigh – who continues to ignore or drag his heels on desperately needed competition reforms – must finally step up and start working in the best interests of Australian consumers and businesses.”
ENDS