Industry-Innovation-and-Competitiveness-Agenda

Ambition 1:
A lower cost, business friendly environment
The Government will make it easier and cheaper to do business by:
• reducing the burden of regulation;
• reducing the burden of taxation; and
• improving access to international markets and opening up the economy to greater domestic
and international competition.
Reducing the regulatory burden
Regulation is necessary for a well-functioning economy and society, but too often the first
reflex of governments has been to regulate, adding layer upon layer of costs on business. The
Government will remove inefficient regulation, simplify compliance and improve regulator
responsiveness to help small and large businesses thrive.
Actions already taken:
• Commenced deregulatory initiatives saving more than $700 million per year in reduced
red and green tape, including as part of our first Repeal Day on 26 March 2014.
• Started an audit of Commonwealth regulations to better understand the scope and scale
of the costs they impose on businesses, individuals and community organisations. This
will be completed by the end of the year.
Actions to come:
• The Government will remove $1 billion of red tape each year through the deregulation
agenda.
• The Government will continue to work with the States and Territories to streamline
environmental approvals by establishing one-stop shops. The Government is working
closely with States and Territories to negotiate bilateral agreements to implement this
policy. Draft agreements with a number of jurisdictions have already been released for
public consultation. The introduction of the one-stop shop reform will save Australian
businesses around $420 million every year.
Industry Innovation and Competitiveness Agenda
In
Co
• The Government will adopt the principle that if a system, service or product has been
approved under a trusted international standard or risk assessment, Australian regulators
should not impose any additional requirements unless it can be demonstrated that there
is good reason to do so. All Commonwealth Government regulatory standards and risk
assessment processes will be reviewed against this principle.
TPO00007
Executive Summary
ix