The Australian Competition and Consumer Commission received $66.6 million in tonight's Budget.
This is an increase on the ACCC's funding of $61.8 million in the 2002-03 Budget.
The funding includes $1.4 million to implement the Government's response to the findings and recommendations of the Wilkinson Report on the impact of Part IV of the Trade Practices Act 1974 on the recruitment and retention of medical practitioners in rural and regional Australia.
The ACCC is also funded for $1.0 million to monitor medical indemnity premiums to ensure that they are actuarially and commercially justified.
Further, the ACCC will receive $5.8 million, an increase of $0.8 million from last year’s appropriation, to continue its regulatory role in the telecommunications sector.
The increase in funding is to enable the ACCC to undertake additional tasks and responsibilities arising from reforms enacted by the Telecommunications Competition Act 2002.
Additional funding of $1.1 million was provided to the ACCC for its increased regulatory role in the oversight of Australia Post. The funds will assist the ACCC in developing record keeping rules to ensure Australia Post is not inappropriately cross subsidising its retail services, and to inquire into disputes and make recommendations in relation to Australia Post's bulk interconnection service.
Following the Government's decision to remove the price controls from airports from 1 July 2002, the ACCC will no longer administer price regulation of airport services.
As a result, $0.9 million of funding previously appropriated to the ACCC is no longer required, and this funding has been withdrawn.