The federal government has unveiled a major overhaul of merger laws with the aim of speeding up and streamlining the process for low-risk corporate takeovers to boost competition and protect consumers. Treasurer Jim Chalmers wants more transparency in the process and plans to increase power of the competition watchdog to ensure big takeovers don't result in monopolies where big companies swallow up smaller businesses.

Reporter: Peter Ryan, Senior Business Correspondent

Featured: Jim Chalmers, Federal Treasurer