Unnecessary regulation drag on productivity and job creation

We welcome the Morrison government’s announcement to establish a Productivity Commission review into streamlining regulation in the resources sector, Business Council chief executive Jennifer Westacott said today.

“The resources sector is critical to driving our national prosperity employing hundreds and thousands of people and supporting many regional communities.

“Removing unnecessary barriers to the success of the sector and the people it supports must be a national priority.

“Excessive regulation can be a hidden cost to communities and jobs.

“Red tape and ineffective regulation slow down Australian businesses and make it harder to compete overseas.

“The cost is borne by all Australians, through reduced services, higher prices and less choice.

“We need to strike a balance between effective rules and the dead weight of unnecessary regulation that makes it harder for businesses to compete, invest, innovate, export and employ Australians.

“Importantly this review will look to improve the efficiency of environmental approvals.

“We can’t stand in the way of sensible changes that makes us more productive as a nation.

“We support the government’s renewed focus on reducing the regulatory burden on business. We look forward to continuing to work with them through the Deregulation Taskforce process currently being established by Assistant Minister Morton.”

 

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