Morrison aims to improve competition law

Treasurer Scott Morrison is seeking public responses to a range of changes the government wants to make to competition law.

He released an exposure draft of proposed legislation on Monday that has taken into account the Harper Review's finding that Australia's current misuse of market power law was not reliably enforceable and did not effectively target and deter anti-competitive conduct.

"This uncertainty and inefficiency creates a barrier to the entry and expansion of new and innovative firms, delays the development of new technologies in Australia and hinders productivity growth in the long term," Mr Morrison said in a statement.