Yesterday afternoon, the new Small Business Minister Kelly O’Dwyer announced that the Turnbull government would accept the Senate's amendments to the ‘unfair contracts protections’ Bill for small business people.
ICA is DELIGHTED!
Let’s be clear about what those protections actually are. It’s about a balance in the structure of ‘standard form’ contracts. That is, one party cannot, for example, change the price of the contract without the other party’s agreement. That’s fair and sensible. Here’s a list of the contract ‘balance’ requirements under the Bill.
The Senate has proven its worth. Last month, we said that Senators ‘saved the Bill’. They have demonstrated the value of an independent Senate as a genuine house of review. Robert Gottliebsen in Business Spectator made the same point yesterday.
But, to the Turnbull government’s credit, they have responded positively, with Kelly O’Dwyer arguing the case. This is a win not only for small business people but for large businesses as well.