Consumers to have more control over data

Banking, energy and telecommunications customers will be able to compare and switch deals more easily under a Morrison government proposal.

Treasurer Josh Frydenberg introduced the legislation to the lower house on Wednesday, saying it also allows consumers to access data companies hold about them.

"The consumer data right is a game-changer for consumers and small businesses," Mr Frydenberg said.

"Consumers will determine which data is shared under the right, on what terms and with who (sic)."

The proposal aims to increase competition, enable consumers to fairly harvest the value of their data, and enhance consumer welfare.

The four major banks voluntarily began the first stage of the right at the start of July, with the legislated changes due to begin in the industry from February next year.

The federal government expects the energy and telecommunications industries to follow, with other sectors to be considered based on advice from the consumer watchdog and Information Commissioner.

The Australian Competition and Consumer Commission and the Information Commissioner will decide how the consumer data right works in each sector.