Title

Ten Morning News

Database

Electronic Media Monitoring Service 

Date

10-12-2007 11:03 AM

Source

Capital

Parl No.

 

Channel Name

Capital

Start

10-12-2007 11:03 AM

Abstract

Brad Hodson speaks with Mr. C. Bowen MP regarding Government plans to make tough new jail terms for company bigwigs under changes to the Trade Practices Act.

End

10-12-2007 11:13 AM

Cover date

2007-12-10 11:03:30

Citation Id

190108

Enrichment

 
Reporter

BELLING, Natarsha

Speaker

BOWEN, Chris, MP

URL

Open Item 

Parent Program URL

 

Text online

No

Media Deleted

False

System Id

emms/emms/190108

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Ten Morning News -

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(generated from captions) countries, it will be a small step

to save the planet the Government is planning In a bid to keep petrol prices low, for company bigwigs tough new jail terms to the Trade Practices Act. under changes Ten Reporter Brad Hodson has more.

I am joined by the assistant

treasurer. How do you hope to keep

a lid on petrol prices with these

changes to the Trade practices Act?

This is not just about petrol. This

is about sending a message to

people in the economy that the new government believes in competition

and believe in markets working properly and people competing

against each other to produce the

best prize and the lowest prices.

If people are thinking about some

sort of side deal with their

competitors to inflate prices, they

really need to think twice, because

we will have jail terms in place

for that sort of breach. The his

jail terms will be for people at

the top of the company? Generally

it is those people who make

sorts of decisions, so those it is those people who make these

penalties will be in place for

those people, yes. Beat a triple C

has tried before to catch petrol

companies out on collusion. What

makes you think this will be

different? These are serious

offences and it is appropriate we

have to amass the evidence and

prosecute the case and convince the

court. If there are ways of making

that fair and easy for the

competition watchdog, I'll be

talking to them about that. It is

really about sending the message. I

hope no one goes to prison, because

sends I hope nobody does it. I had this

sends the message. These sorts of

penalties are quite common around

the world. The previous government

promised to do it and unfortunately

have these measures in place. did not. Under the Labor Party will