January 6, 2014 – 9:08AM
ACCC chairman Rod Sims says the government should relinquish long-held assets, such as Australia Post, to ensure productivity and the greatest benefit to the public. Photo: Dave Langley
National assets including Medibank Private and Australia Post should be sold, the Australian Competition and Consumer Commission has told the government.
The ACCC has also urged Prime Minister Tony Abbott to push for the privatisation of state-owned energy companies.
Chairman Rod Sims has told The Australian Financial Review a root-and-branch review of competition laws should recommend the government relinquish control of long-held assets to ensure productivity and the greatest benefit to the public.
ACCC chairman Rod Sims Photo: Nic Walker
”I think it would be the most important driver of how Australia improves its productivity,” Mr Sims told the Fairfax Media paper.
”Of all the reviews going on, this will be the most important because it will be removing impediments to competition right across the country.”
Government ownership versus private ownership massively affects the incentives people have to drive productivity change.”On the matter of energy assets, Mr Sims said consumers would be paying less for electricity, particularly in Queensland and NSW, if the assets had been in private hands.
The ACCC boss said his priorities this year would include pursuing large penalties against major companies who breached consumer laws as well as closely monitoring petrol prices.
The Sydney Morning Herald