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Home»World»Australia
Australia

rewrite this title House values tumble as economy struggles; PM touts international coverage of social media ban

December 2, 2024No Comments2 Mins Read
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Summarize this content to 2000 words in 6 paragraphs Financial Service Minister Andrew Leigh says news laws will crack down on big tech acting as “gatekeepers” to online platforms and stifling competition.Jones will use a speech today to reveal companies such as Apple, Samsung and Google will face increased scrutiny as part of the government’s efforts to lift competition across the entire tech sector.Under the government’s plan, the Australian Competition and Consumer Commission will be able to examine particular aspects of digital platforms to determine if they require special laws to protect consumers.If the commission finds a particular problem, the responsible minister can then “designate” that platform, which would pave the way for special rules. Failure to honour those rules would expose the offending company to fines of up to $50 million or 30 per cent of turnover.Speaking to Sky News, Jones said that small businesses operating in Australia had to appear on social media and Google Search to compete, making it crucial to effectively moderate competition on the platforms.Loading“They’re gatekeepers and rule makers when it comes to those entry points to the economy, and they make rules to suit themselves,” Jones said.“They don’t make rules to suit Australians, Australian consumers or small businesses. We’ve got to intervene to ensure that we’ve got a bit more balance in here.” Jones said the focus would be on how the platform preferences traffic, their own commercial interests and access to the app stores.The Coalition hasn’t revealed if it will support the plan, with Nationals leader David Littleproud telling Sky News it is “more like a thought bubble at the moment”, while opposition finance spokesperson Jane Hume questioned why it had taken so long for Jones to take action.Read more about the changes here.

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