Government announces priority areas for red tape cuts

The government has announced its deregulation taskforce will work with state and territory governments and businesses to identify and address the most significant regulatory barriers to investment for selected industries.

The taskforce will work on three key priorities including reducing the regulatory burden for food manufacturers with an initial focus on exporting, making it easier for sole traders and micro businesses to employ their first person, and getting major infrastructure projects up and running sooner.

“A better regulatory environment will help businesses lower their costs, save time and improve their competitiveness, while major infrastructure projects will help get us home sooner and safer,” Treasurer Josh Frydenberg said in a joint statement with the Assistant Minister to the PM, Ben Morton.

The taskforce is set to pay particular attention to the degree of complexity, the length of time for approvals and duplication across levels of government. It will also investigate opportunities to adopt technological or “regtech” solutions which make it easier for business to cost-effectively navigate and comply with regulatory requirements.

According to the government, between September 2013 and December 2016, its Cutting Red Tape initiative has resulted in $5.8 billion reported as red tape savings.

Small business ombudsman commends government’s efforts

The Australian Small Business and Family Enterprise Ombudsman, Kate Carnell, has welcomed the federal government’s latest commitment. 

“Small businesses and family enterprises are crying out for less red tape and unnecessary regulation so they can get on with the job of growing their business,” Ms Carnell said.

“The government’s efforts to bring down the barriers to business investment and boost productivity are commendable.”

Ms Carnell noted that it’s critical the government consults widely as part of the deregulation process.

“Of particular interest is the taskforce’s agenda in dealing with the degree of regulatory complexity, the length of time for approvals and duplication across levels of government.

“This has the potential to be a game changer for Australia’s small businesses and family enterprises.”