Review of Regulatory Impact Assessments

Statement from BCA Chief Executive Jennifer Westacott on the Review of Regulatory Impact Assessments

The Business Council of Australia welcomes the government’s announcement yesterday that it will be undertaking an independent review of its regulatory impact assessment process.

Reducing red tape continues to be a top priority for business. There is a rightful role for good regulation in our economy but poor and unnecessary regulation hampers business innovation to boost productivity.

The BCA has called on the government to commit to more rigorous impact assessment processes for new regulations – something that would be aided by a “hearts and minds” commitment to less rather than more regulation and genuine consultation with business.

This review is a good first step to ensuring that government processes are fit for purpose, but the real challenge is for agencies to apply these processes rigorously on the ground.

In this regard, the government’s announcement of measures to enhance the resources and capability of agencies to prepare regulatory impact statements is a positive development.