The BCA welcomes the announcement today by the Parliamentary Secretary to the Treasurer, the Hon. Chris Pearce MP, of a new round of improvements to business regulation and the proposal to introduce the Simpler Regulatory System Bill into Parliament.
“We congratulate Mr Pearce on his continuing commitment to reducing the regulatory burden on business in Australia,” BCA CEO Katie Lahey said today.
“The BCA has highlighted the deadweight that unnecessary regulation places on the Australian economy. While regulation is essential in a modern, complex society, more needs to be done to make sure regulation is only imposed where its benefits clearly outweigh its costs.”
The BCA also welcomes Mr Pearce’s commitment to continue the consultative process with business and other interested groups.
“Early consultation with those affected by regulation is the best way to avoid unnecessary and costly compliance burdens,” said Ms Lahey.
The open, transparent development of regulatory reforms also allows all interested parties to have their say and results in better regulatory outcomes. Given the government’s commitment to reducing the compliance costs on Australian businesses and its consultative approach, the BCA urges all parties to support the Simpler Regulatory System Bill when it is presented to Parliament.