Australian gov't rejects to conduct review of Trade Practices Act

09:41, May 19, 2010      

Email | Print | Subscribe | Comments | Forum 

The Australian federal government on Wednesday rejected a coalition plan to conduct a major review of the Trade Practices Act.

Assistant Treasurer Nick Sherry said the Trade Practices Act was working fine, and did not need to be reviewed.

"We've had a number of recent examples in the banking, wealth management sector for example," Sherry told Sky News.

"They are working well, and we don't believe that there is a need to overhaul them in any significant way at all."

Senator Sherry said the coalition had released lots of "thought bubbles" about possible savings but was yet to detail them.

Opposition Leader Tony Abbott gave his formal reply to the budget in parliament last week, but was criticized for being light on detail.

Opposition treasury spokesman Joe Hockey later on Wednesday will unveil the coalition's detailed response to last week's federal budget at the National Press Club in Canberra.

It has been expected to include a "root and branch" review of the Trade Practices Act to help ease the burdens on small business, and scrapping the E-health scheme, which was funded in the budget.

The scheme would see patient records stored in one national database, available to different health professionals.

Hockey must also outline how he would fund the coalition's 15 billion Australian dollars (12.9 billion U.S. dollars) in promises to date, and bring the budget back to surplus sooner than Labor.

Source:Xinhua

(Editor:黄蓓蓓)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Photo taken on Sept. 26, 2011 shows lighting illuminating the night sky in Guangzhou, capital of south China's Guangdong Province. The first Guangzhou International Lighting Festival kicked off here on Monday. (Xinhua/Shen Dunwen)
  • Photo taken on Sept. 26, 2011 shows lighting illuminating the night sky in Guangzhou, capital of south China's Guangdong Province. The first Guangzhou International Lighting Festival kicked off here on Monday. (Xinhua/Shen Dunwen)
  • The graphic shows the schematic image of Chinese space station. (Xinhua/Lu Zhe)
  • The injured are wheeled to a hospital following a subway train collision in Shanghai, east China, Sept. 27, 2011. A subway train rear-ended another Tuesday afternoon in Shanghai.  Over 260 people injured in the accident were seen receiving treatment in hospitals as of 7:30 p.m. Tuesday, according to local authorities.(Xinhua/Liu Ying)
  • On Sept. 26, a resident passes by a flower terrace decorated for the coming National Day. (Xinhua/Hang Xingwei)
  • The photo, taken on Sept. 26, shows the SWAT team ready for the joint exercise. (Xinhua/Wangkai)
Hot Forum Discussion