As part of the Digital Economy Strategy announced in the 2021-22 Budget, the Morrison Government committed to an accelerated economy-wide roll-out of the Consumer Data Right (CDR), with a new sector to be assessed and designated every year.
The CDR is a key initiative in the Government’s $1.2 billion Digital Economy Strategy and gives consumers the right to transfer their data to third parties of their choice so that they can gain more value from their data. It encourages businesses to compete and innovate and makes it easier for consumers and businesses to make good product choices.
The Government is inviting input on a consultation paper for a Strategic Assessment, which will inform the implementation roadmap for prioritisation and sequencing future datasets and sectors for economy wide expansion of the CDR.
The Government has also commenced consultation on the next sector to be considered for designation under the CDR - telecommunications.
A consultation paper released today calls for public input to inform the assessment of making telecommunications data available through the CDR and the ways in which this could increase benefits for consumers and the data economy.
Senator the Hon Jane Hume, Minister for Superannuation, Financial Services and the Digital Economy said the CDR puts consumers in control of their own data, empowering Australians to make informed decisions and get a better deal.
“The CDR already applies in banking and work is well advanced to apply it to energy. As for mortgages and energy bills, CDR could help consumers save money on their internet and mobile phone bills, as well as enable innovative services to be provided to consumers using data from multiple sectors.”
Telecommunications is the third sector to be considered for designation after banking and energy, which were designated in 2019 and 2020.
The consultation papers can be found on the Treasury website. Submissions close on 19 August 2021.