Terms of reference

The House of Representatives Standing Committee on Economics will inquire into promoting economic dynamism, competition and business formation, with particular reference to:

a)The effect of a diverse and dynamic business environment on:

• productivity, prices and better-paid jobs
• our supply chain resilience to disruption

b)The extent to which anti-competitive behaviour and changes in industry structures have contributed to rising market concentration in Australia

c)The extent to which economic barriers—such as regulatory costs and barriers to finance, infrastructure, suppliers, customers and workers—contribute to rising market concentration and slowing business formation rates in Australia

d)The extent to which businesses consolidating their market power has undermined productivity, stifled wages, made markets more fragile and led to higher mark-ups

e)Drawing on international examples, how Australia could lower economic barriers to competition and business formation, further limit anti-competitive behaviour, and better manage changes in industry structure that would entrench, increase or extend market power, and

f)Any other related matters.