This submission argues that a benchmarking progress to identify regulatory burdens on business would be a positive development, as it would provide more information and would demonstrate the effectiveness of regulatory reform over time.
Benchmarking business regulation is essential for assessing regulatory impacts and to identify potential areas for reform. Without such data, reform priorities may be missed. Benchmarking helps to compare regulatory compliance costs, measure changes to the quantity of regulation on over time and examine the quality of regulation against best-practice principles.