Big businesshas backed aLabor Party push for new laws toforce major Australian companies to report on modern slavery in their supply chains.

Federal Laborwill on Monday announce the newpolicy and call for the introduction of a Modern Slavery Act toimpose newrequirements onbig businessto report onslavery and human trafficking in their supply chains. The policy includesthe introduction of a publicly available list of companies that wouldbe required to develop policies on and monitor any signs of the problem.

Labor also wants an independent anti-slavery commissioner like in Britain toaddress alack of enforcement of laws against slavery and to help businessesprotect supply chains.

The Business Council of Australia, which represents the chiefs of Australia's top companies, said it welcomed Labor's commitment to the introduction of a Modern Slavery Act.

"Greater global trade has boosted Australians' living standards, but it has also increased the risk that products and services are tainted by the use of forced labour," a Business Council spokesman said.

"Increased transparency will help customers, investors and business partners more easily distinguish whether companies are acting morally and working to maintain clean supply chains. Transparency also makes competition between businesses fairer.

"Large businesses are rightly taking a leadership role in promoting and supporting clean supply chains, and we look forward to consulting with Labor on the detail of its proposal."

Mining magnate Andrew Forrest late last year challenged Australian business leaders to wipe slavery out of their supply chains and has backed calls for tougher rules in this country.

Hewas shocked to find evidence of slavery within the supply chain of his Fortescue Metals Group in 2012.

Federal Labor's spokeswoman for Justice, ClareO'Neiland Opposition Leader Bill Shorten will on Monday announce itsnew policymodelled on Britain's Modern Slavery Act.

"For the first time, we are making it crystal clear that big businesses need to know what's happening in their supply chains," Ms O'Neil said.

"Every day, we probably pick up a product, wear a piece of clothing, use a resource or consume something which has been touched by a slave.

"We have a clear moral responsibility to tackle this problem.

"This policy represents a major shift in thinking about our responsibility as businesses and consumers for modern slavery."

Labor's callfor a Modern Slavery Act goes further than theexisting British law by mandatingand not simply suggesting that companiesreport on their supply chains and any areas of risk involvingslavery and human trafficking. Companies would also face penalties for non-compliance.

Ms O'Neil said two-thirds of people trapped in slavery worldwideare reported to be in the Asia-Pacific region and itwas estimated4300weretrapped in slavery in Australia.

In February, federal Attorney-GeneralGeorge Brandislaunchedaninquiry into whether amodern slavery act should be introduced in Australia.

The inquiry has been asked to look into the extent of modern day slavery includingforced labour and wage exploitation, involuntary servitude, debt bondage, human trafficking, forced marriage and other slavery-like exploitationin Australia and globally withreference to Britain's 2015 Modern Slavery Act.

The Senate committee has been asked to identifyinternational best practice used by governments, companies, businesses and organisations to prevent modern slavery in domestic and global supply chains, with a view to strengthening Australian legislation.

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Big business backs Labor call for new anti-slavery legislation - The Sydney Morning Herald