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Speaker 1: The practice of dynamic ticket pricing will be banned in Australia.

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Speaker 1: This is where you go to buy a concert ticket

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Speaker 1: and it might be advertised let's just call it one

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Speaker 1: hundred bucks, but then there's all these hidden fees and

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Speaker 1: charges that are added to it, and suddenly one hundred

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Speaker 1: bucks is three hundred dollars. I don't know if that's

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Speaker 1: the best example, but it's how it sort of works.

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Speaker 1: The price might be too late to start with in

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Speaker 1: my example, but you do get the idea, so you

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Speaker 1: quoted a price, but it turns out that is not

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Speaker 1: the finishing price. Stephen Jones, Assistant Treasurer. The government making

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Speaker 1: moves to cancel this policy, this practice. Thank you for

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Speaker 1: your time, Assistant Treasurer. The issue of dynamic ticket pricing,

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Speaker 1: it is pretty widespread.

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Speaker 2: I imagine it is pretty widespread, whether it's concert tickets,

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Speaker 2: whether it's sporting events, tennis tickets. Australian Open was a

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Speaker 2: pretty famous example of that. Most recently it's become an

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Speaker 2: increasing feature of it. So our changes to the Australian

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Speaker 2: Consumer Law focusing on three issues in particular. One is

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Speaker 2: dynamic pricing, which we've just been discussing. That's when you

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Speaker 2: go online, the price might be one hundred and fifty

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Speaker 2: bucks a ticket, but there's a surge in demand at

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Speaker 2: the time you go online, and all of a sudden,

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Speaker 2: you find yourself paying three hundred dollars for a ticket.

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Speaker 2: So that's one practice. The second one is drip pricing,

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Speaker 2: and that's when they advertise a charge, which a ticket

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Speaker 2: price or a charge for a particular product. It might

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Speaker 2: be one hundred dollars. You're finding your way through the

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Speaker 2: transaction screen by screen, form by form, another price gets

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Speaker 2: added on, another fee gets added on, another fee gets

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Speaker 2: added on, and all of a sudden, you see a

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Speaker 2: massive inflation in the price. It's called drip pricing and

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Speaker 2: it's going to stop. And then the third one is

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Speaker 2: what we call subscription traps. Your listeners would be familiar

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Speaker 2: with this. That's where you subscribe to a streaming service

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Speaker 2: or a gym. It's really easy to subscribe and almost

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Speaker 2: impossible to unsubscribe. So there are three things which are

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Speaker 2: clearly ripping Australian consumers off and the government is going

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Speaker 2: to introduce new laws to crack down on these behaviors.

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Speaker 1: You wonder, way this hasn't been done before frankly, I

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Speaker 1: mean it is. It's just a ripoff.

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Speaker 2: It is a ripoff. And our government, the Albaniza government,

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Speaker 2: is focusing on a raft of changes to Australian consumer

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Speaker 2: and financial services law and other practices. You would have

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Speaker 2: heard us talking about the need to knock these surcharges

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Speaker 2: on the head for using your debit card to access

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Speaker 2: your own money at a coffee shop or a restaurant

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Speaker 2: or wherever you're shopping, and in a range of other areas.

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Speaker 2: I'm doing a lot of work on scams as well. Basically,

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Speaker 2: what we need to do is ensure that Australians are

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Speaker 2: better protected and have more rights and ensure that we

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Speaker 2: can drag this Australian consumer law into the twenty first century.

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Speaker 1: All right, what about the marketing pushes that you get

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Speaker 1: around the place where they say if you don't get

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Speaker 1: your ticket now, you're going to miss out. Realities they've

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Speaker 1: got thousands.

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Speaker 2: Yeah, these are creating a false sense of scarcity. There

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Speaker 2: might be a clicking talk, a clicking clock on the

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Speaker 2: screen that you're shopping on, or they might flash up

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Speaker 2: and say only one left to go and five people

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Speaker 2: are inquiring about this product. In reality, there's no shortage.

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Speaker 2: It's just trying to get you to rush into make

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Speaker 2: a purchase and trying to get you to suspend all

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Speaker 2: the normal caution that you might have or stop your

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Speaker 2: shopping around for a better deal. The sharp practices there

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Speaker 2: really are on the edge of misleading and deceptive conduct,

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Speaker 2: which is already outlawed under Australian consumer law. But we're

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Speaker 2: going to make sure that these sort of very specific

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Speaker 2: practices are banned.

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Speaker 1: Yeah, all right, you mentioned scams. Any hope for people

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Speaker 1: getting their money back if they're scammed in the future, Yes.

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Speaker 2: There will be. Under the current arrangements, there's no clear

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Speaker 2: obligations on either the banks, the telecommunications companies or the

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Speaker 2: social media platforms they if people get scammed by using

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Speaker 2: their service. I'm introducing laws in a few weeks time

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Speaker 2: which will create clear obligations and clear avenues for addressing

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Speaker 2: compensation if the banks, the telcos and the social media

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Speaker 2: companies don't meet those obligations. So a major uplift in

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Speaker 2: the law in this area and new channels for compensation,

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Speaker 2: fines and penalties as well.

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Speaker 1: All right, well, I have you Stephen Jones, Assistant Treasurer,

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Speaker 1: the Prime Minister buying a four million dollar house on

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Speaker 1: a cliff top in New South Wales. Is that a

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Speaker 1: good look given many Australians can't afford a five hundred

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Speaker 1: thousand dollar house at the moment, In fact, they don't

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Speaker 1: exist anymore.

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Speaker 2: I won't comment on whether it's a good looker or not.

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Speaker 2: It's a private matter that PM and Jodi is Beyonce

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Speaker 2: getting married next year, and I understand this sold a

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Speaker 2: couple of properties that they own separately and are buying

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Speaker 2: one jointly. But I got to say, the housing policy

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Speaker 2: that I'm focused on is how we build more homes

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Speaker 2: for everyday Australians, how we make it easier for them

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Speaker 2: to get into the housing market, and how we help

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Speaker 2: renters as well. And we've got bills before the Senate.

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Speaker 2: At the moment they're being blocked by the far left

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Speaker 2: and by the Coalition on this and we've just got

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Speaker 2: to get them through parliament. This is the stuff that's

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Speaker 2: going to make a difference to ordinary Australians.

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Speaker 1: Do you think too? It sends the wrong message on

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Speaker 1: climate change buying a house on a cliff top where

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Speaker 1: erosion can occur. All of that, I mean, the PM

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Speaker 1: doesn't seem to mind.

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Speaker 2: Well, I think it's my understanding. And the photo I

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Speaker 2: saw it was on top of the cliff, not down

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Speaker 2: on the beach, so I'm not sure that that's the concern.

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Speaker 2: I come from a coastal area. I've got to say

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Speaker 2: we're all pretty well about the issue of erosion. But

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Speaker 2: like I said, I want to focus on our policies

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Speaker 2: to build more houses because the biggest problem we have

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Speaker 2: in Australia at the moment is there are not enough

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Speaker 2: houses for the people who are living here. So more units,

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Speaker 2: more houses, and we've got to get it done quickly.

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Speaker 1: Appreciate your time. Thank you. Good to be with you,

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Speaker 1: missus Stephen Jones, who is the Assistant Treasurer on dodgy

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Speaker 1: trading practices, particularly