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Government pushes ahead with national economic reforms

The Federal Government is progressing in its plans to create a seamless national economy, having completed more than 40 percent of its business regulation reforms. national economy

The Government has completed 12 of the 27 areas of regulatory reform one and a half years into a five year agreement, with an additional seven on track to be complete by 1 July 2011. The program is scheduled for completion by 2013.

The reforms recognise that Australia should operate as a national economy, not eight different state and territory markets says Minister Assisting on Deregulation Craig Emerson.

“The reforms are about reducing regulation and compliance costs by creating national rules to replace up to eight regulatory regimes,” Dr Emerson said.

Among the completed areas of regulatory reform is a new method of standard business reporting. This method is based on a simplified business-to-government reporting, which is estimated to save businesses around $800 million a year.

Dr Emerson said the reforms represented a third phase of economic reforms implemented by Labor Governments.

“(This phase) involves the removal of internal regulatory obstacles to private business, moving Australia towards a seamless national economy and we are now well on the way toward achieving that goal.”

“I want to pay tribute to the Premiers and Treasurers of the states and territories, who have shown great enthusiasm for this reform program which has been led by the Minister for Deregulation, Lindsay Tanner and me through the Council of Australian Governments,” Dr Emerson added.