A new book by two free-market thinkers at RMIT University has declared Australia’s deregulation agenda an abject failure, urging governments to adopt a novel Canadian approach to unclogging the nation’s economic arteries.
Conservative Party leader Cory Bernardi is calling for the reinstatement of the Abbott government’s twice-yearly Red Tape Repeal Days, launched in 2014 with the target of cutting red and green tape costs to the Australian economy by $1 billion every year.
The Australian reports, Australia’s Red Tape Crisis: The Causes And Costs Of Over-Regulation, edited by Christopher Berg and his colleague Darcy Allen, has found mounting regulation is costing the economy $176 billion a year.
“Every elected Australian government over the past two decades has declared they would cut back on unnecessary regulation and red tape,” Dr Allen said.
Dr Berg said: “The first year of the Abbott government was good but overall the deregulation project has failed and slowed and stalled. This book is the first academic analysis of why Australian red tape continues to grow, the impact this has on our society and economy, and outlines a path to solve the problem.”
The previous Labor government passed 975 acts, adding up to 38,874 pages of legislation. Over the past eight years, Australia has tumbled down closely watched international competitiveness rankings, dropping seven places to 22nd in the World Economic Forum Competitiveness Index and from fifth to ninth in the Fraser Institute’s Freedom index.
The Conservatives want to reinstate the twice-yearly Red Tape Repeal Day as called for in the statement Senator Bernardi made to the senate earlier this year mentioning the government's cuttingredtape.gov.au website which has since been shut down.
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