"The government's second Repeal Day continues to make significant inroads into the backlog of unnecessary regulation in Australia," Business Council of Australia Chief Executive Jennifer Westacott said.

"The government has consulted extensively with the business community and is taking serious action to remove red tape.

"We particularly welcome the removal of the 100 member rule and the move to better target disclosure requirements. These changes will reduce unnecessary costs for companies while still encouraging shareholder participation.

"The proposed new risk compliance model for the Australian Government Building and Construction Occupational Health and Safety Scheme and improved access to government digital services through the myGov website are also sensible changes that will lead to valuable savings.

"The proposals introduced by the government are common sense measures that simply should not have been on the books for so long. The range of deregulation initiatives introduced across government will help to change a culture that regulates before really thinking about other ways of managing risks.

"Poorly designed regulation costs jobs and investment. The parliament should support these practical changes to help improve Australia's competitiveness and create jobs.

"The challenge now is to focus on other regulations that are holding Australia back, such as the removal of unnecessary duplication in the environmental approval and assessment processes currently before the parliament. All members should support the government's much needed changes if they are serious about improving Australia's competitiveness and creating jobs.

"The BCA looks forward to continuing to work with the government on their deregulation agenda to help keep up the significant progress already made in their first two repeal days," Ms Westacott said.

For further information contact:
Matt Newton, Communications Adviser
Business Council of Australia
Telephone (03) 8664 2627 • Mobile 0409 550 578