Turnbull backs change to Australia's competition laws

Sydney

AUSTRALIAN Prime Minister Malcolm Turnbull said on Wednesday that he would back a controversial change to the country's competition laws that would reduce the power of big businesses to monopolise markets and squeeze out smaller competitors.

The implementation of a so-called "effects test" was recommended as part of a broad economic review produced last year for the government of former prime minister Tony Abbott, who was ousted by Mr Turnbull in a party coup in September.