The Morrison Government has announced new measures to remove unnecessary regulatory burdens on business and to lift regulator performance.
2021-22 Deregulation Budget measures
The 2021-22 Budget shows the Government’s commitment to Deregulation with measures across a number of areas, supporting a private-sector led economic recovery.
The key elements of the Government’s investment of around $120 million in Deregulation measures are: reducing the regulatory burden for businesses interacting with government; making it easier for businesses to get people into jobs; and building foundations for future reforms.
These measures are estimated to deliver an average reduction in compliance costs of around $430 million per year. They also highlight the Government’s investment in technology to reduce regulatory impacts on business.
Regulation Technology (regtech) takes advantage of opportunities presented by technologies that are changing how businesses operate and governments regulate. Regtech solutions, including digitisation of existing processes and accompanying regulatory improvements, can deliver significant benefits to business.
We will streamline Health Products digital pathways, providing a single digital channel (the Health Products Portal) to manage applications to the Medical Services Advisory Committee and the Prostheses List Advisory Committee, for regulated and reimbursed health products and services. This will save approximately 400 companies time and money by digitising an estimated 8,000 interactions they have with Government each year.
Regtech options for the National Greenhouse and Energy Reporting scheme will streamline reporting for over 900 companies reporting on over 7,500 facilities every year.
Technological innovation to deliver fisheries deregulation will support approximately 1,220 commercial fishing operators rapidly access information to more efficiently plan fishing and marketing operations, avoiding bycatch and protected species.
Regulatory technology to support businesses comply with modern awards will provide authoritative data on award pay and conditions, unlocking innovation and greater accuracy in payroll software and other technology solutions. This will make it easier and cheaper for businesses to comply with their award obligations and gives them greater confidence to hire new employees.
Assistant Minister to the Prime Minister and Cabinet, Ben Morton, said:
“These measures build on the success of previous deregulation measures, which are a key part of the Government’s plan to support our economic recovery, by making it easier for businesses to invest and create jobs.”
“We are also building a pipeline of deregulation reforms, so we are improving the business environment now and into the future.”
Public consultation on setting and reporting on expectations of regulators
Assistant Minister Morton also today launched public consultation on a new Regulator Performance Guide, which sets out the Government’s expectations for regulator performance and reporting.
The guide outlines principles of best practice and supporting guidance to assist Commonwealth regulators to report on their performance against these principles.
“Strong regulator performance ensures that our regulatory settings are the best they can be” Assistant Minister Morton said.
“Stakeholders have told us that the existing framework for regulator performance reporting could be improved, with adoption of a more outcomes-focused approach based on continuous improvement, a proportionate and data-driven approach to risk and genuine collaboration with stakeholders.
“The Guide will empower regulators to demonstrate and report on best practice performance that is in line with the Government’s expectations and supports investment and growth.”
The Guide also reduces duplication through removing the requirement to produce a separate regulator performance report.
Feedback is sought on the Guide to ensure it is informed by business and community expectations of regulators.
The development of the Guide is part of the Government’s focus on lifting regulator performance, capability and culture announced in the 2020-21 Budget. The Regulator Performance Guide is available on the Deregulation Agenda consultation website, with feedback invited until 21 May 2021.
Ben Morton
Assistant Minister to the Prime Minister and Cabinet
Assistant Minister to the Minister for the Public Service
Asistant Minister for Electoral Matters