The much anticipated response of the Federal Government to the Harper Review, the most comprehensive review into Australia's competition policies, laws and institutions since the Hilmer Review 22 years ago, has largely endorsed its recommendations, but has, for now at least, left unresolved a couple of hotly contested issues, including the "effects test" reform of section 46 of the Competition and Consumer Act 2010 (Cth) which proscribes the misuse of a firm's substantial market power, and the reform of Australia's pharmacy industry.
The response acknowledges the Harper Review is an important limb of the Federal Government's forward economic policy agenda, to revitalise competition policy at both the State and Commonwealth level. The Government's stated objective is to reshape competition institutions, and modernise and simplify Australia's competition laws to strengthen competition and incentives to innovate, empower consumers, and promote better use of and
