Work is set to commence on a new “super complaints” pathway for small business representative bodies to fast-track their grievances to Australia’s competition regulator, according to the 2023 budget papers released on Tuesday evening.
It’s another win for the small business sector, which is emerging as one of the winners from Treasurer Jim Chalmers’ first major budget.
The Australian Competition and Consumer Commission (ACCC) will establish the first phase of what is being termed a “super complaints” function — a mechanism by which designated small business and consumer advocacy groups will be able to more quickly raise “systemic issues” with the regulator.
The new function was proposed by Labor back in 2019 and then discussed again in June 2022, after the party’s election win, when Assistant Treasurer for Competition Andrew Leigh told SmartCompany it would provide better channels to the ACCC from “trusted representatives bodies”.
At present, representative groups like the Council of Small Business Organisations Australia (COSBOA) would need to go through regular channels to recommend investigations or actions, but the super complaints function is intended to speed up the process and carry more weight.
Leigh said at the time that other international jurisdictions already had such a function and the ACCC was looking at the practicalities of it.
The budget papers state the first phase of the super complaints function will be established “within existing resourcing” of the Treasury, however, the costs will be partially offset by reprioritising existing functions within the portfolio.
The government says it will also reduce the frequency of Financial Regulator Assessment Authority reviews, from every two years to every five years, to also partially offset the costs.
Details about the new super complaints function were included in a broader package of additional funding for the Treasury department, which totals $162.4 million over the next four years.
Of this figure, $88.8 million has been allocated over two years for the continued operation of the Consumer Data Right; $32.7 million will be spent on delivery key programs, statutory reviews and upgrades to ICT systems; and $1.9 million has been provided over two years to establish “a public registry of beneficial ownership of companies and other legal vehicles, including trusts”.
To see SmartCompany‘s full budget coverage, click here.
News Editor
Prior to joining SmartCompany, Eloise was news editor at Books+Publishing, the trade press for the Australian book industry. Eloise has degrees in media and communications, marketing and business management, and political science. You can follow her on Twitter at @ellykeating.
