Labor says it will extend and simplify a sweeping scheme meant to make it easier for customers to compare prices and switch banks or energy providers, as it pushed back against complaints that the consumer data right program is expensive and unnecessary.

The government is backing the regime to boost competition and service delivery in the digital economy. Financial Services Minister Stephen Jones set out recalibrations to debug a host of problems he blamed on the Morrison government, including excessive complexity, in a speech in Sydney on Friday morning.