Opposition Leader Tony Abbott makes a pitch to small business, saying a Coalition government would seek to save the economy $1 billion a year by slashing red tape.
OPPOSITION Leader Tony Abbott has made a pitch to small business, saying a Coalition government would seek to save the economy $1 billion a year by slashing red tape.
As he announced a taskforce to work on the initiative, Mr Abbott yesterday argued federal Labor had introduced a damaging compliance burden on Australia's companies.
Lightening the load was the key to promoting productivity and boosting jobs growth, he said. Leading the Coalition's deregulation taskforce will be new Liberal Senator Arthur Sinodinos, a former banker, public servant, and senior adviser to John Howard.
Mr Abbott said Mr Sinodinos would use his experience to ''forensically hold each government department and programme to account'', reporting by the middle of next year on how to reduce red tape.
He also committed a Coalition government to vetting every new bill so that its compliance burden was minimised, and publishing the burden that all new laws would place on business. ''Since Labor was elected in 2007, it has introduced over 12,835 new regulations and increased the compliance burden on Australia's 2.7 million small businesses,'' he said.
''During 2011, I have visited over 130 businesses across Australia and I am convinced that freeing up small business from the burden of red tape is a key to lifting national productivity and creating jobs.''
Under the Gillard and Rudd governments, business groups have complained of an increased compliance burden in response to initiatives including the paid parental leave scheme, the increase in the superannuation guarantee to 12 per cent, and harmonisation of workplace and safety laws.
The Productivity Commission says reducing the compliance burden could be worth $12 billion to the economy.
Aside from the taskforce, the Coalition says it will reduce red tape by measures such as allowing business owners to shift some of the responsibility for superannuation to the Tax Office and administering its parental paid leave scheme through an arm of the government.
Frequently Asked Questions about this Article…
What did Tony Abbott say a Coalition government would do to reduce red tape for small businesses?
Tony Abbott said a Coalition government would seek to save the economy $1 billion a year by slashing red tape, announcing a deregulation taskforce and pledging to vet new laws so their compliance burden on business is minimised.
Who will lead the Coalition deregulation taskforce and what will the taskforce do?
The Coalition said new Liberal Senator Arthur Sinodinos — a former banker, public servant and senior adviser to John Howard — will lead the deregulation taskforce and ‘forensically’ hold government departments and programmes to account, reporting by the middle of next year on how to reduce red tape.
How will the Coalition measure and publish the compliance burden of new laws?
The Coalition committed to vetting every new bill to minimise its compliance burden and to publish the compliance cost that each new law would place on business, so businesses can see the expected regulatory impact of proposed laws.
How many new regulations and small businesses did the article say were affected since 2007?
The article said that since 2007 federal Labor had introduced over 12,835 new regulations and increased the compliance burden on Australia’s 2.7 million small businesses.
Which government initiatives did business groups say increased compliance costs?
Business groups complained the paid parental leave scheme, the increase in the superannuation guarantee to 12 per cent, and harmonisation of workplace and safety laws had added to their compliance burden.
What did the Productivity Commission estimate about reducing the compliance burden?
The Productivity Commission said that reducing the compliance burden could be worth about $12 billion to the economy.
What other measures did the Coalition propose to reduce small business compliance costs?
Aside from the taskforce, the Coalition proposed allowing business owners to shift some responsibility for superannuation to the Tax Office and administering the paid parental leave scheme through an arm of government to reduce admin burdens on businesses.
Why did Tony Abbott say cutting red tape would help jobs and productivity for everyday investors to watch?
Abbott said he visited over 130 businesses in 2011 and is convinced freeing small business from red tape is key to lifting national productivity and creating jobs — a point investors may watch because changes to regulation can affect company costs and employment growth.
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