“The recently announced Small Business Regulation Review is an overdue and welcome initiative by the Victorian Government to cut the red tape that is strangling the Victorian economy,” says Evan Mulholland from the free market think tank the Institute of Public Affairs.
This announcement follows the tabling of the Victorian Auditor General’s Office audit ‘Reducing the Red Tape Burden’ in May which found a lack of evaluation and communications of the outcomes of red tape reduction, and called for deeper regulatory reform now that most of the ‘long hanging fruit’ has been cut.
“All Victorian Government Departments and Ministries should be involved in the review, given the recent Productivity Commission Draft Report into agricultural regulation offers many suggestions for Victoria to unshackle farmers from burdensome red tape,” says Mr Mulholland
“The Government also needs to consult with businesses, non-profits and other stakeholders to ensure the red tape burden is not increased in the future.”
Institute of Public Affairs research estimates the foregone output from red tape at $176 billion each year. That means red tape makes up 11 per cent of GDP and is bigger than any other industry.