National Competition Policy,Regulatory Reform & Australian Federalism*

Changes are afoot in Australia's federal arrangements concerning competition policy. While many of the proposals to enlarge the Commonwealth's sphere of influence are played out in the media, other shifts are more subtle. This article examines one of those areas of change. It looks at National Competition Policy and in particular, its regulatory reform components. It argues that the approach adopted in the 1995 agreement, which was characterised by broad principles, meticulous monitoring and substantial financial carrots, has provided the Commonwealth with a useful tool for effectively intervening in areas that have been until now, matters of state responsibility.