Rising regulatory burden is estimated to have added at least $5.5 billion in business-related compliance costs over the last five financial years. This report highlights the increasing complexity of Australia’s regulatory framework. It identifies regulatory reform as one of the most significant opportunities to unlock productivity gains and secure Australia’s future prosperity. 

The report calls on the Commonwealth Government to urgently prioritise regulatory reform to address the growing burden of red tape that is stifling productivity and economic growth. It also highlights the need to better support small businesses, which are disproportionately affected by regulatory burdens.

Key recommendations

• The Australian Government issue a growth-first directive to all government departments and regulators.
• Australia target a 25% reduction in the compliance burden by 2030. 
• A Cabinet-level Minister for red tape reduction be created.
• Reduce barriers to trade through digitisation.
• Streamline the environmental approval process.
• Simplify the National Construction Code for building approvals.