Australian business stands ready to work with the government on the design of the new Consumer Data Right announced by Assistant Minister Angus Taylor, according to Business Council chief executive Jennifer Westacott.
“We support the principle that consumers should have greater access and control over data directly relating to them.
“What is vital is that the new system is an effective, workable regime that serves the interests of consumers and supports a productive and innovative economy.
“The new Consumer Data Right is a significant change which will require careful consideration and design. A well-designed consumer right should facilitate competition, encourage innovation and foster trust from the community in data use.
“We need to ensure any new regulation does not stifle or slow the tremendous innovation already underway in data.
“The Business Council looks forward to continuing to work closely with the government and other stakeholders to design the framework for consumer data rights, as recommended by the Productivity Commission.”