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Federal Government Competition Policy Review Panel Chairman, Professor Ian Harper said it's time for government to build political capital for competition policy changes.

"If there were views that people had about efficacy in building the constituency...giving it some backbone, we'd be all ears," he said.

"The world's moved on from the debates and the agreements since the time of Hilmer, the federation is still there."

"If there is some more imaginative way in which the competition agenda that reaches from across the states could be re-energised using those types of incentives then a political will may come from that."

Recorded at the 2014 State of the Nation, held at the Parliament House, Canberra, on 23-24 June.

CEDA -- the Committee for Economic Development of Australia -- is a respected independent national organisation with an engaged cross-sector membership.

For more details visit: www.ceda.com.au