Red Tape Reduction Focus Welcomed

“The commitment to appoint a Red Tape Commissioner by Premier Dom Perrottet, if re-elected, is an important display of economic leadership and a step in the right direction,” said Daniel Wild, Deputy Executive Director of the Institute of Public Affairs.

Yesterday, it was announced that a re-elected state Coalition Government in New South Wales would: 

• Appoint a ‘deregulation tsar’ responsible for cutting $1 billion worth of red tape.
• Impose a one-in-one out requirement, where one existing regulation must be repealed before another is introduced.
• Create one million small businesses in NSW by 2030.

“Cutting red tape is critical in driving better economic and social outcomes, especially for small businesses,” said Mr Wild.

“Red tape is the number one impediment to job creation and investment throughout New South Wales and Australia.”   

“Every hour spent on filling out forms is an hour not spent on growing the business or with family on weekends.”

Previous research from the Institute of Public Affairs has found that red tape costs over 10% of national GDP each and every year.

“Government departments and bureaucrats must be held to account for the reams of red tape and regulation they impose on the productive sectors of the economy,” said Mr Wild.

“It is the revenue from private enterprise, it shouldn’t be forgotten, which pays their wages and funds critical social infrastructure such as schools, roads, and hospitals.”