Treasury Laws Amendment (Doubling Penalties for ACCC Enforcement) Bill 2026

Senator GALLAGHER (Australian Capital Territory—Minister for Finance, Minister for the Public Service, Minister for Women, Minister for Government Services and Manager of Government Business in the Senate) (15:54): I'll probably take that as a comment. I'm not sure there was a question in there. In the interest of time, I will just repeat what was said in the second reading speech.

It said: These laws help tackle price gouging at its source, outlawing: False or misleading representations, including lying about the reason for price increases; Price fixing, colluding on prices, and other cartel behaviour; Misuse of market power to lessen competition, including by refusing to supply to third parties like independent fuel retailers; Unfair contract terms, especially in relation to business-to-business conduct, to stop big business pushing around small and family businesses; Exclusive dealings that reduce competition; and Unconscionable conduct, like taking advantage of vulnerable people.

That is what this bill will do by significantly increasing—doubling—the fines, the penalties, for breaches of the Australian consumer law and the Competition and Consumer Act. The government are being upfront and transparent about what we are doing here. We are bringing legislation to the chamber for senators to vote on.

It doesn't get much cleaner and more transparent than that. I am hoping that the Senate will agree to pass these laws today. They are an important response to some of the effects that we've seen flow through to our economy, including on prices on fuel, since the outbreak of the conflict in the Middle East, and I look forward to the Senate's support.