The Government's is set to strengthen Australia's merger laws, in a move the Australian Competition and Consumer Commission (ACCC) Chair, Gina Cass-Gottlieb, has said "will benefit Australian consumers and businesses of all sizes, as well as the wider economy".

The proposed reforms, announced yesterday by the Treasurer, the Honourable Dr Jim Chalmers, at the 10th annual Bannerman Competition Lecture in Sydney, will aligning Australia's merger laws with those of most other developed economies.

"Over recent decades, the mark-ups that businesses apply to goods and services have increased by more than 2 percentage points,” said Chalmers. “Reforms that address the decline in competition can deliver big economic benefits.”

The reforms are expected to come into force on 1 January 2026, subject to the passage of legislation through the Australian Parliament.

The proposed reforms include introducing a mandatory notification requirement for merger deals above certain thresholds, and a prohibition on merger transactions proceeding without receiving a determination from the ACCC or Tribunal.

"Higher prices, less choice and less innovation can result from weakened competition. Stronger merger laws are critical to ensure anti-competitive mergers do not proceed," said Cass-Gottlieb. She also noted that the proposed changes are significant and will reinforce public confidence in Australia's competition laws.

The ACCC also welcomed the Treasurer's announcement that merger laws will be updated to better deal with serial acquisitions, where a number of smaller transactions occur over time that result in serious harms to competition.

In addition to the proposed legislative changes, the Treasurer will seek to appoint Dr Philip Williams AM as a Commissioner of the ACCC, subject to confirmation by the states and territories. Dr Williams is a former executive chair of Frontier Economics and a former Professor of Law and Economics at the University of Melbourne.

"Philip is an eminent and respected economist with a deep understanding of the intersection of economics and competition law in Australia. We warmly welcome news of his nomination by the Treasurer," said Cass-Gottlieb.

The Treasurer also confirmed the appointment of Stephen Ridgeway as an Associate Commissioner of the ACCC.

"I am very pleased that the ACCC will continue to have the benefit of Stephen's wisdom and intellect in his role as an Associate Commissioner. Stephen's insights and guidance have been invaluable to our merger work in particular," said Cass-Gottlieb.

Also announced was a new Statement of Expectations (SOE) for the ACCC, noting the Government's expectation that the ACCC will promote a competitive, dynamic and inclusive economy and modern, well-functioning markets that work for consumers.