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NSW Business Chamber keeps red tape reduction on government's agenda

The state’s peak business organisation, NSW Business Chamber, has praised the NSW Government’s appointment of an independent panel.
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NSW Business Chamber keeps red tape reduction on government

NSW Business Chamber keeps red tape reduction on government's agenda

10 November 2016

The state’s peak business organisation, the NSW Business Chamber, has praised the NSW Government’s appointment of an independent panel of experts to undertake a comprehensive review of the NSW regulatory policy framework and current red tape reduction initiatives.





“For some time the NSW Business Chamber has been calling on the NSW Government to demonstrate a stronger commitment to regulatory reform and examine its approach to reducing the burden of red tape,” said Stephen Cartwright, NSW Business Chamber Chief Executive Officer.

“Yesterday’s announcement is a good sign that the Government is taking the business community’s concerns seriously and is committed to reducing unnecessary regulatory burden.

“Our annual Red Tape Survey of almost 1000 NSW businesses estimated that businesses are weighed down by around $10 billion in compliance costs each year, with the annual cost of complying with government regulatory requirements reported as being $58,000 for the average respondent.

“For a business owner, that’s the difference between hiring an extra employee or investing to expand their business.

“The review provides a timely opportunity to give closer consideration to the Chamber’s five-point action plan to make it easier to do business here in NSW.

The NSW Business Chamber’s 5 point action plan to reduce red tape:

1. Make information on regulatory obligations across Government more open and accessible
2. Commit to new targets to reduce the impact and stock of regulation, including the regulatory burden associated with planning and local government
3. Take a strategic approach to identifying red tape burden reduction opportunities for both new and existing businesses
4. Create a coordination point for a whole-of-government approach to regulatory reform
5. Ensure that regulation is effective and proportional to risks faced by the community when compared with alternative approaches that could be taken

“The NSW Business Chamber welcomes the opportunity to participate in the review of the NSW Government’s regulatory policy framework and looks forward to engaging with the panel,” Mr Cartwright said.

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