Today, the Albanese Government released the report of the independent Statutory Review of the Consumer Data Right (CDR), led by Ms Elizabeth Kelly PSM. The Review is an important step in the staged evolution of the CDR and an opportunity to reflect on its implementation to date.
The CDR will democratise consumer data by transforming it from being an inaccessible resource that benefits businesses to become an invaluable tool that consumers can derive value from, all within a safe and secure environment.
The Statutory Review explored whether the CDR framework supports its core objectives of driving value for consumers, increasing competition and driving innovation across the economy.
It found that the statutory framework is sufficiently flexible and robust to accommodate further changes in the short to medium term, with scope to further explore its limits as the CDR develops.
Key recommendations include greater consideration of small business use of the CDR, improving data quality so that the CDR can realise its potential, and taking steps to reduce system complexity.
Ms Kelly said, "the CDR is at a critical point in its development as Australia's national data portability scheme. Focus for the past three years has been on building what many would agree is the world's most ambitious, safest and most secure data‑sharing scheme that can deliver value to consumers and propel Australia's digital economy forward."
The Government thanks Ms Kelly for undertaking this review, as well as stakeholders for their constructive engagement throughout the process.
The report and submissions are available on Treasury's website.
