The Federal Government has announced a suite of reform measures aimed at improving how regulations are developed.

 

Minister for Finance and Deregulation, Senator Penny Wong, said that the package of reform formed a concerted bid by the Government to improve productivity and support business.

 

Improving regulatory performance was identified at the inaugural Business Advisory Forum (BAF) in April and these reforms will be presented to the Forum on Thursday. Measures include a redesign of the Australian Government's regulatory impact analysis (RIA) process; moving to a 2-stage assessment process.

 

 

"We understand that businesses and the community wants rigorous due diligence of any regulatory proposals, and these reforms have been developed in consultation with business," Senator Wong said.

 

Senator Wong said a two-stage RIA would allow for a more accurate analysis and assessment of proposed regulation on business and other stakeholders, while allowing for earlier opportunities for more substantive stakeholder consultations.

 

The operation of Commonwealth Government regulators will be enhanced, with new arrangements to make it easier for businesses to contact them and understand their role. Regulators will also be encouraged to establish ways of dealing with complaints if they do not already exist.

 

"The Government remains committed to reducing unnecessary red tape and these measures represent a new, more sophisticated approach to improving regulation," Assistant Treasurer, David Bradbury, said.