Government cuts $2.1 billion in red tape

The Coalition Government has reduced red tape compliance costs by $2.1billion this year, more than double the original $1billion target.

On its second Repeal Day today, the Government will remove nearly 1,000 pieces of legislation and regulation and $1.4billion in compliance costs to make life easier, help small business, strengthen our economy and create jobs.

Federal Member for Pearce, Christian Porter, said this was on top of the 10,000 pieces of legislation and $700million in compliance costs the Government scrapped on its first Repeal Day in March.

“The red tape repeal measures implemented by the Coalition have resulted in more efficient government and more productive business across Australia,” Mr Porter said.

“Through minimizing and simplifying interaction with government and reducing regulatory obligations we are making Australian business more competitive and fuelling economic growth.”

Nearly half a million small businesses are now exempt from pay-as-you-go requirements and around 1.4 million myTax users will be able to use pre-populated income tax returns, saving countless hours and costs.

Access to government services is now much simpler, with seven services (including Medicare and Centrelink) now accessible through one myGov username and password.

There is practical red tape relief across the board, from one-stop-shops for environmental approvals for major projects, to hire companies no longer needing to register concrete mixers as “vehicles”.

“Under the previous Labor government more than 21,000 additional regulations were created, which contributed to stifling investment and job creation,” Mr Porter said.

“The Coalition Government is eliminating duplication and overlap between the different layers of government and reducing the burden of regulation on our economy.

“Many of the ideas to cut red tape came directly from members of the community, so please let me know if you are being weighed down by rules and regulations.”

If you would like further information, you can visit www.cuttingredtape.gov.au to find summaries of all the new initiatives and to pass on your suggestions.