The Government is promising to act on recommendations from a wide-ranging review of Australia’s competition law which will be released later today.

Professor Ian Harper’s draft review recommended controversial changes, including a plan to curb the major supermarkets’ power with a so called “effects test” – which would judge any alleged misuse of market power by examining its impact on smaller rivals.

The big supermarkets have lobbied against the idea, but smaller grocers, farmers and suppliers are all in favour.

The minister in charge of the review, Small Business Minister Bruce Bilson will not say when the Government will respond to the recommendations, promising to consult beforehand.

“There will be some recommendations we can move on more quickly than others,” he said.

Mr Bilson said he expects continued opposition to the effects test, and has promised further consultation before changing the law.

“There’s quite an appetite to respond in an appropriate way,” he added.

The review is also expected to recommend an overhaul of taxi regulations to deal with ride sharing services, as well as possible changes to the competition regulator the ACCC.

Bruce Billson will front the press in Melbourne at 2:00pm (AEDT) for the release of the report.

Extracted in full from ABC.