Labor vows to shake up ‘cosy monopolists’ with fines of up to $50m for anti-competitive behaviour

Andrew Leigh says stopping excessive market concentration' is key to lifting competition to benefit workers and consumers

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Australia's economy needs a shake-up to ensure cosy monopolists" don't dominate the market, with the new minister for competition, Andrew Leigh, pledging to legislate tough new penalties of up to $50m for anti-competitive behaviour.

With stagnant wages growth and high inflation identified as key priorities for the new Albanese government, Leigh says preventing excessive market concentration" will be a key focus of his role to encourage more competition to the benefit of both workers and consumers.

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