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“The proposed legislation aims to prohibit detrimental business practices that unfairly sway or alter consumer choices,” stated Andrew Leigh, the Assistant Minister for Competition and Treasury.
“Many Australians have experienced the frustration of clicking ‘buy’ only to face unexpected charges at checkout or have struggled to escape subscriptions that are much simpler to start than to cancel,” he added.
Leigh emphasized that companies would be required to inform customers at crucial points in their subscription journeys, ensuring they are aware of impending payments.
Additionally, the initial 2024 announcement highlighted upcoming measures to tackle dynamic pricing, a practice where prices fluctuate during the purchasing process.
Dynamic pricing was a significant concern, as highlighted by concertgoers who faced ticket prices soaring up to $500 for a Green Day show, while major events like the Australian Open and the Australian Grand Prix encountered similar pricing issues.
The new laws announced today make no mention of dynamic pricing.
Nine.com.au has contacted Leigh’s office for comment on dynamic pricing.
He also said regulators would have more authority to protect customers and enforce the new laws.
The measures, which have been planned in collaboration with state governments, will help Australians’ hip pockets, Leigh said.
“Stronger competition is essential to easing cost-of-living pressures.”
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