The Abbott Government today welcomed the Harper Competition Review Draft Report.

This is the first comprehensive review of Australia’s competition law, policy and institutional framework in 20 years and delivers on a key election commitment.

The review focuses on improving outcomes for Australians, by making markets work in the long term interests of consumers.

It will help identify ways to build the economy and promote investment, growth, job creation and durable benefits to consumers.

This is a draft report prepared by the independent expert panel based on input and analysis to date. It needs to be thoroughly tested via further public consultations before final recommendations are made by the Review Panel.

I encourage all interested stakeholders to provide feedback on the draft report through the submissions process by 17 November 2014.

The Panel will deliver a final Report to Government in March 2015.