Yesterday evening the Senate passed the Trade Practices Amendment (Clarity in Pricing) Bill 2008 that will increase pricing transparency so consumers will know the total price they are required to pay for a good or service.
"The Clarity in Pricing legislation will see an end to the practice of certain retailers who relegate compulsory charges or taxes to the fine print and mislead the consumer on the total price of a product," Mr Bowen said.
"This is an important outcome for consumers."
"These changes will give clarity and certainty to buyers throughout Australia."
"The Government has also been careful to promote amendments that do not impose unnecessary compliance costs on businesses."
"The passage of the legislation follows both extensive consultation and support from consumer and business groups."
The amendments to the Trade Practices Act 1974 to require that where a business makes a price representation to a consumer and that amount is less than what the consumer will actually have to pay to acquire the goods or services, the business must also prominently state a total price as a single figure.
The passage of the legislation follows the release of an exposure draft for public consultation in March 2008 and follow-up meetings with business and consumer groups.
"The Rudd Government's Clarity in Pricing legislation is all about empowering consumers to make the best decisions about what they buy.
"This is a measure that's been discussed and debated for years, and finally, it has been the Rudd Government that has been able to secure greater transparency for consumers."
12 November 2008