Social media fine plan dropped in Australia

Australia’s government has abandoned a proposal to fine social media platforms up to 5% of their global revenue for failing to curb online misinformation. The decision follows resistance from various political parties, making the legislation unlikely to pass the Senate.

Communications Minister Michelle Rowland stated the proposal aimed to enhance transparency and hold tech companies accountable for limiting harmful misinformation online. Despite broad public support for tackling misinformation, opposition from conservative and crossbench politicians stalled the plan.

The centre-left Labor government, currently lagging in polls, faces criticism for its approach. Greens senator Sarah Hanson-Young described the proposed law as a ‘half-baked option,’ adding to calls for more robust measures against misinformation.

Industry group DIGI, including Meta, argued the proposal merely reinforced an existing code. Australia’s tech regulation efforts are part of broader concerns about foreign platforms undermining national sovereignty.