Federal Member for Pearce, Christian Porter, has welcomed the Coalition Government’s announcement that it will strengthen its regulation reform agenda so that it focusses on changes that increase innovation and productivity.
Following the Coalition Government’s fourth Red Tape Repeal Day, Mr Porter said that the Government’s agenda to cut red tape and reduce regulatory costs has been an overwhelming success.
“The Coalition made a commitment to reduce red tape by $1 billion annually and I’m very pleased to confirm that we have already achieved that target with almost $4.5 billion in red tape savings in our first two years alone,” Mr Porter said.
“Recent significant savings include streamlining the Australian Taxation Office’s activities which will reduce annual compliance costs by over $185 million, a measure which will assist businesses to grow and invest.
“This Government has repealed over 10,000 legislative instruments and introduced legislation to repeal over 3,600 spent and redundant Acts from the Commonwealth books.
“Evidently, this Government has eliminated an enormous amount of regulation, which means individuals and businesses in Pearce will spend less time filling out forms and ensuring they comply with regulation.”
Mr Porter was in charge of the red tape agenda during his time as a Parliamentary Secretary.
“The red tape agenda is, by any measure, a very substantial achievement of the Coalition Government,” he said.
“The simple fact is that the Australian public now deals with significantly less federal red tape than at any time under the previous Labor Government.
“The time I spent on the red tape agenda was truly fascinating and achieved significant success, I’m very glad that this success has continued under the Assistant Minister for Innovation, the Hon Peter Hendy MP.”
Mr Porter also emphasised that the red tape reduction is a net figure, and takes into account any red tape which is introduced as a result of legislation which has passed through parliament which has a compliance cost associated with it.
“Importantly, for every $1 of new regulation that has developed since the last election, the Coalition has devised ways to get rid of $11 of inefficient and wasteful regulation in its place,” he said.
“The Coalition’s goal is to make life easier for Australians and to make it easier for businesses to invest and create more jobs – and that is exactly what we are doing.”
From 1 July 2016, the Government will broaden its focus to regulation reforms that directly enhance innovation, competitiveness and productivity. Over the coming months the Government will consult stakeholders to prioritise change and the schedule of reform.
“While our overall focus on removing red tape generally will continue, this Government will begin to focus on areas of reform that will assist in growing productivity and innovation,” Mr Porter said.
“We need to have regulation reform policy working in lock-step and supporting the Government’s other innovation, economic and social policies.”
More information on the agenda is available at http://cuttingredtape.gov.au/.