Competition and the pandemic

Extraordinary times sometimes require extraordinary responses. The authorisation provisions in Australia’s competition law have enabled the ACCC to react quickly and flexibly to this dreadful pandemic and allow some competitors to cooperate temporarily to address more effectively the economic challenges we now face. These interventions have shown the Australian Government and community that competition law is not an end in itself but exists to boost economic welfare. Just as in these amazing times some cooperation between competitors can be beneficial, this is clearly the exception to the normal rules. Authorising temporarily some cooperation amongst competitors has enhanced the ACCC’s advocacy “voice” to preserve and promote longer term competition and so improve Australia’s chances of a speedy economic recovery.