Continuing to advance a single domestic market for services
The Government will reduce red tape, making it easier for business to invest, create jobs and assist COVID-19 economic recovery through the Deregulation Taskforce.
The Government should develop a program of national regulatory reform to deal with domestic regulatory impediments and inefficiencies.
Progress to date
The Deregulation Taskforce has focused on making it easier for sole-traders and micro-businesses to employ their first person, getting major projects up and running sooner and reducing the regulatory burden for food manufacturers with an initial focus on exporting.
In 2021, the Deregulation Taskforce is continuing its work to reduce red tape, make it easier for business to invest and create jobs, and assist COVID-19 economy recovery through its next priority areas:
Streamlining regulation for the excise (and excise-equivalent customs duty) regime, to support new investment in our fuel security and world-leading beverage manufacturing sector;
Targeting unnecessarily overlapping or duplicative cross-jurisdictional regulatory burdens, working with businesses, Commonwealth agencies and the states and territories to identify and prioritise reform;
Modernising business communications to reduce costs incurred by businesses when legislation is not technology neutral, and to better reflect the way Australians want to engage and communicate; and
Improving occupational mobility to make it easier for people in licensed occupations to move where their skills are needed and enable businesses and consumers to access skilled workers more quickly.
This will also improve consistency in national business requirements.
The Taskforce will look to further opportunities to address issues raised in this Action Plan.
Under the Government's Digital Business Plan announced during the 2020-21 Federal Budget, the Government is investing $6.9 million to fund two industry-led pilots to demonstrate the how blockchain technology can reduce regulatory compliance costs and encourage businesses to take up blockchain technology to boost productivity. The pilots will test how blockchain technology can be used to streamline regulatory processes, reduce fraud and/or reduce costs of regulatory compliance and administration.
The Government will undertake a $256.6 million expansion of Australia’s Digital Identity program to simplify and reduce costs of interacting with Government and develop legislation to expand the use of Digital Identity to the states and territories and the private sector. This includes face verification capability, finalising integration with mygov and on-boarding additional government services.
The Australian Government’s Digital Business Plan includes $11.4 million to establish a RegTech Commercialisation Initiative through the Australian Government’s Business Research and Innovation Initiative. RegTech, or regulation technology, can decrease the cost of administering and complying with regulation. The initiative will:
Provide critical early stage funding to innovative SMEs, enabling them to test new technologies that reduce regulatory burden or regulatory compliance; and
Identify regulatory technology solutions that make it easier for businesses to invest and grow, creating more jobs to support our economy.
In the 2020-21 Budget, the Government announced a number of regulatory reforms to ensure essential safeguards are maintained, while making it easier to do business, including:
- investing $328.4 million to bust congestion in the regulation of farm exports, making it easier for farmers to get their goods to market and helping rural Australia recover from drought and COVID-19;
- investing almost $800 million to enable businesses to take advantage of digital technologies to grow their business and create jobs; and
- investing $28.6 million to support initiatives to modernise Australia’s trade system and streamline border services.
The National Cabinet has tasked the Council on Federal Financial Relations with progressing targeted Australian Government, State and Territory regulatory reform and deregulation agenda.
The Department of the Prime Minister and Cabinet is now the central coordination body for all of the Government’s deregulation policy, including the Deregulation Taskforce and the Office of Best Practice Regulation.