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Antitrust penalties would rise 400% if Australian opposition were elected, Labor Party says

( March 31, 2022, 10:00 GMT | Official Statement) -- MLex Summary: Penalties for violations of Australia’s competition laws would be increased from the current maximum of A$10 million ($6.8 million) to A$50 million under a proposal advanced today by the opposition Australian Labor Party, ahead of the country’s general elections in May. In a policy document released today, the party led by Sydney politician Anthony Albanese said that, if elected, it would bring Australia’s penalties closer to international best practice. The ALP has also vowed to establish a “super complaint” function within the competition watchdog, which would allow trusted consumer groups to enroll the Australian Competition & Consumer Commission to investigate serious complaints.The Australian Labor Party's full competition policy follows:...

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