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No, not an effects test

March 17, 2016

Who needed more proof that Malcolm is to the left of the Greens without the slightest evidence he has idea how an economy works or ought to work? Here is something that I spent a good deal of time fighting off when I was working for business, and this was on behalf of the Chamber of Commerce where 90% of it members were small business. This is from Andrew Bolt.

Malcolm Turnbull yesterday triggered a rift with the nation’s peak business group by announcing the introduction of an “effects test” to competition law, allowing small operators to sue larger companies for behaviour that diminishes competition, even if their conduct was not intended to have that effect.

How is that for utter stupidity! You have a supposedly pro-business provision that is universally opposed by business who, you may be sure, know what is good and bad for themselves. I’m sure some small business know-nothing somewhere can be trotted out to say that having a larger competitor charging lower prices is harming their profitability, and no doubt it is. But if we are going to make it illegal to charge a lower price than someone else, the ACCC will never run out of work, as the forces of competition are dulled by one of the most stupid anti-market pieces of legislation you are ever likely to see. Seriously, what evidence is there that Malcolm understands a single thing of importance to Australia’s future? You should go to Andrew’s post to see the comments by Terry McCrann and Stephen Bartholomeusz.

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