Assistant Treasurer Stephen Jones is set to announce new powers for the Australian Competition and Consumer Commission (ACCC) to target anti-competitive behaviour by platforms such as Facebook, Google and Apple tonight.
As the Federal Government continues its assault on ‘Big Tech’ companies, the platforms will face huge fines for anti-competitive behaviour.
The first two tech giants targeted by the government's new changes are Google and Apple, which dominate the advertising technology market through app stores.
Google’s domination was made evident in the ACC’s digital platforms inquiry, which found it provided 93-95% of general search services in the decade through to 2022.
An example of obligations that would be imposed on app stores under the new regime is the tech giants would be banned from prioritising their own apps in search results even when a competitor offers a better option.
Companies that do not meet the new obligations could face a fine of up to A$50 million or 30% of turnover.
Initial consultation for this regime will run until mid-February next year before the laws are finalised.
Jones will say in a speech tonight that the new regulations would lift transparency in a sector often shrouded in secrecy and give consumers a fair go.
“This approach will achieve an uplift in consumer rights and lead to a more competitive market – allowing consumers to reap the benefits from innovation in the digital services on which we all rely,” Jones has been quoted as saying in the speech.
The move just days after the Federal Government passed legislation to ban children under 16 from using certain social media platforms and it will seek advice on whether social media platforms should also be targeted.