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Costello fails on cartel conduct.



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Media Release CHRIS BOWEN MP SHADOW ASSISTANT TREASURER, SHADOW MINISTER FOR REVENUE AND COMPETITION POLICY

Costello fails on Cartel Conduct

Labor today renewed its longstanding call to introduce criminal penalties for cartel conduct.

“Labor renews its longstanding call on the Government to introduce criminal penalties for cartel conduct which the Treasurer promised back in February 2005” Labor's Shadow Minister for Competition Policy, Chris Bowen said.

“Criminal sanctions are required to discourage collusion to protect consumers and small business from anti-competitive conduct. Cartel conduct is an important matter for the entire economy and not just in relation to petrol prices.

“Labor is disappointed that the Government’s amendments to the Trade Practices Act, introduced last week, did not include the much promised and long awaited criminal sanctions for cartel conduct.

Media Enquiries James Sorahan 0402 236 256

[25 June 2007]