Red tape reduction delivers $83.5 million saving for industry
30 October 2014
Australian industry will benefit from annual savings of $83.5 million through lower compliance costs with the repeal of unnecessary and counterproductive legislation and regulation.
Industry Minister Ian Macfarlane said the Australian Government was following through on its commitment to ease the red tape burden with this week’s 2014 Spring Repeal Day. Within the Industry portfolio, there have been 50 Acts either amended or repealed to minimise the costs to business from unnecessary or redundant legislation.
“This reduction in red tape in the Industry portfolio alone will deliver an $83.5 million benefit to Australian industry through lower costs for paperwork and complying with red tape, giving the business community more time to focus on building Australia’s productivity,” Mr Macfarlane said.
“Cutting red tape is an important part of the new Industry Innovation and Competitiveness Agenda to create a lower cost, business friendly environment for Australian industry.”
Some of the industry savings will be achieved by Registered Training Organisations (RTOs) no longer being required to apply to the national training regulator to update their registration when changes to training packages are made, when the training outcome remains the same. This will deliver an annual saving of $27.3 million in compliance costs.
Other industry savings measures include:
- Improved business support services delivered through the new Australian Apprentices Support Network will deliver annual savings of $10.5 million;
- A new online record system for vocational education and training attainments and qualifications from 2015 will provide a $4.9 million annual saving;
- High performing RTOs being invited to add new qualifications to their training scope without applying through the national training regulator, delivering annual savings of $3.3 million; and
- Removing the requirement that existing RTOs need a financial viability assessment when re-registering, which will provide a saving of $2.7 million each year.
The Australian Government is also examining other industry sectors to maximise efficiencies and cut unnecessary costs, with a review underway of the Commercial Building Disclosure (CBD) Programme and a review related to the Greenhouse and Energy Minimum Standards (GEMS) Legislative Scheme.
Findings on both reviews are due by the end of the year. Further detail on annual savings from the Spring Repeal Day can be found at www.cuttingredtape.gov.au.
Media contact: Mr Macfarlane's office (02) 6277 7070