National Competition Policy — Its Evolution and Implementation: A Study in Intergovernmental Relations

The second reading speech on the Competition Policy Reform Bill 1995 described the policy as 'the most important single development in micro-economic reform in recent years'. The speech went on to describe the vision of the Hilmer Report 'for a national competition policy in which the commonwealth, states and territories cooperated to ensure that universal and uniformly applied rules of market conduct apply to all market participants regardless of their form of ownership'. This article considers how this vision was translated into reality.