Free market think tank the Institute of Public Affairs welcomes Liberal Democrat Senator David Leyonhjelm’s establishment of a Senate Select Committee into Australia’s red tape problem.
“Red tape is Australia’s most pressing economic challenge. This inquiry presents an opportunity to revitalise the Commonwealth’s red tape reduction agenda,” said IPA spokesperson Evan Mulholland.
“Institute of Public Affairs research estimates that red tape costs Australia more than $176 billion in foregone economic output every year. That translates into a staggering $19,300 red tape cost per Australian household.”
“IPA research has found that red tape is particularly burdensome for mining, agriculture and small business. Red tape holds back development, slows job creation and hampers Australian prosperity.”
“The IPA believes the Senate Select Committee should particularly focus on environmental approvals, legal delays to major projects and red tape harming small businesses.”
“Only by cutting red tape will the Turnbull government or a future Labor government be able to deliver the economic growth and prosperity they are promising.”
“The IPA urges industries and businesses to contribute to this Senate Select Committee to expose the heavy red tape burden imposed by all levels of government in Australia,” said Mr Mulholland.