What does the Australian Competition and Consumer Commission (ACCC) aim to promote?

The Australian Competition and Consumer Commission (ACCC) aims to promote fair trading and competition within the marketplace. This is integral to ensuring that consumers are protected and that businesses operate on a level playing field. By fostering competition, the ACCC helps to provide consumers with more choices, better quality goods and services, and fair prices.

The promotion of fair trading includes enforcing laws against misleading conduct, ensuring that businesses do not engage in anti-competitive behavior, and protecting consumers from unfair practices. This contributes to a healthier economy overall, as competition encourages innovation and improvement among businesses, which ultimately benefits consumers.

This role is crucial in maintaining balance in the market and empowering consumers with rights and protections that encourage informed decision-making. The focus is on ensuring that the market operates fairly, rather than allowing monopolistic practices or increasing prices at the expense of consumer welfare.