The Crest of the Commonwealth of Australia Treasury Portfolio Ministers
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Chris Bowen

Assistant Treasurer and Minister for Competition Policy and Consumer Affairs

3 December 2007 - 8 June 2009

Ministerial Responsibilities within the Treasury Portfolio

Assists the Treasurer in the development, implementation and administration of policies in the Treasury portfolio. These include Commonwealth-State reforms to boost participation and productivity.

Not included are those areas which are the responsibility of the Minister for Superannuation and Corporate Law.

Competition policy and consumer affairs

Matters relating to the operations of the Australian Competition and Consumer Commission and the Productivity Commission.

Responsibility for formulation, implementation and administration of competition and consumer policy, including consultative arrangements with the States and industry bodies.

Other responsibilities

Assists the Treasurer in the development, implementation and administration of policies in the following areas:

Australia as a financial services hub

  • Financial market linkages between Australia and overseas.

Taxation

  • Design of taxation laws as delegated from the Treasurer.
  • Administration of taxation laws and administrative matters relating to the Australian Taxation Office.
  • Taxation proposals in relation to compliance.

Prudential regulation and financial institutions

  • Administration of the Australian Prudential Regulation Authority.
  • Prudential regulation of banking and insurance but not superannuation.
  • HIH Claims Support.
  • Levies on financial institutions; cheques and bills of exchange.

Insurance issues

  • Availability and affordability of insurance including: professional indemnity; public liability; terrorism; medical indemnity; natural disasters; and home builders warranty insurance.

Foreign investment

  • Dealing with individual cases, other than major and/or sensitive cases.
  • Oversight of the Foreign Investment Review Board.

Other

  • Representational duties, correspondence and administrative matters in general portfolio matters as referred by the Treasurer.
  • The Australian Bureau of Statistics.