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The Coalition's policy to boost productivity & reduce regulation

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The Coalition's Policy to Boost Productivity & Reduce Regulation July 08, 2013

The Coalition’s Policy to Boost Productivity and Reduce Regulation will lower business costs, generate more jobs and strengthen

the economy.

For too long, the red and green tape burden on Australian businesses has been increasing. Under the Rudd-Gillard Government,

21,000 additional regulations have been added despite having promised to cap the growth of regulation with a ‘one-in, one-out’ policy.

Labor has paid too little regard to the systemic costs of regulation to the economy and to our ongoing national prosperity.

Small business in particular has carried the burden of increasing demands by government and that has been acknowledged in

recent days by the Productivity Commission.

Small businesses don’t have compliance departments - and nor should they. We need common sense to prevail again.

We recognise that all modern economies need regulation, but excessive regulation results in more costs than benefits and discourages innovation, investment and job creation.

Not only does excessive regulation add unnecessary costs to business, it also adds additional costs to governments which are

required to enforce regulation.

The Coalition's policy to cut $1 billion a year in red and green tape will result in more efficient government and more productive businesses.

Measures that a Coalition government will undertake to deregulate the economy include:

· Repealing Labor’s carbon tax;

· Repealing the Minerals Resource Rent Tax; · Setting aside two Parliamentary sitting days for the repeal of legislation each year;

· Reporting to Parliament annually on red and green tape reduction; · Relocating the responsibility for deregulation from the Department of Finance to a new unit within the Department of Prime

Minister and Cabinet - taking a whole of government approach to deregulation; · Creating a dedicated unit within each department and agency that is charged with driving red tape reduction;

· Linking the remuneration of senior public servants to quantified and proven reductions in red tape; · Including annual red tape reduction targets in the performance criteria to be considered in determining the re-appointment

of departmental Secretaries; · Requiring all Cabinet submissions to include a Regulatory Impact Statement - and ensuring they quantify the costs to

business and/or the community of new regulations; · Establishing a one-stop-shop for environmental approvals;

· Undertaking an audit of all environmental legislation and regulation at state and federal levels; · Allowing small businesses to remit compulsory superannuation payments made on behalf of workers directly to the

Australian Taxation Office; · Transferring administration of paid parental leave from business to the Family Assistance Office;

· Streamlining grant applications for the National Health and Medical Research Council; · Establishing ministerial advisory councils for each portfolio minister as a means to provide advice on cutting red and green

tape; · Improving administration of Commonwealth grants and procurement;

· Amending the Future of Financial Advice legislation to reduce compliance costs for small business financial advisers; · Undertaking a moratorium of significant new regulation for the financial sector; and

· Improving the effectiveness of efficiency of the Commonwealth cost recovery model.

Tony Abbott Federal Member for Warringah | Leader of the Opposition

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These commitments will improve the performance of government and strengthen the economy.

Our commitments are in keeping with the pledge made during the 2013 Budget Reply: to deliver careful, collegial, consultative,

straightforward government that says what it means and does what it says.

Australians understand that it is better to have a government that has clear processes and is measured in what it is trying to achieve, than to have a government that continually adds to regulation and which makes it up as it goes along.

The Productivity Commission has estimated that reducing the burden of unnecessary red tape could generate as much as $12

billion in extra GDP per year. By generating greater GDP, we improve national wealth meaning more jobs and greater capacity for government to provide tax cuts, invest in infrastructure and improve services.

Our policy is the result of careful consultation with the community. The Coalition’s Red Tape Reduction Taskforce, Chaired by

Senator Arthur Sinodinos AO and Deputy Chairs Ms Kelly O’Dwyer MHR and Senator David Bushby have consulted widely with business, not-for-profits and the community. We acknowledge that work and thank all who made submissions.

Reducing regulation is an essential part of the Coalition’s Real Solutions Plan to grow the economy, get the Budget under control

and create one million new jobs within five years.

Only the Coalition has the Plan to build a stronger Australia and a better future for all Australians.

8 July 2013

Download a copy of the Coalition's Policy to Boost Productivity & Reduce Regulation here.

© Tony Abbott MHR 2010 | Authorised by Tony Abbott MHR, Level 2, 17 Sydney Rd, Manly NSW 2095

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