ALLIANCE WELCOMES COALITION COMMITMENT TO CUT RED TAPE

By Jessica Dempster

The Alliance of Industry Associations has welcomed the Coalition’s commitment to reduce red tape by 25%, saying the move could deliver significant savings for Australian businesses.

The Alliance represents around 30 industry groups, including organisations across agriculture, retail, construction, professional services and major employers.

The group says businesses are facing increasingly complex and costly regulations, with compliance estimated to cost Australian businesses around 160 billion dollars each year.

The Australian Institute of Company Directors estimates cutting those costs by a quarter could save businesses around $40 billion annually.

The Alliance says regulation remains important for protecting workers and consumers, but unnecessary and duplicative requirements are adding to business costs and affecting productivity.

The group has called on all levels of government to commit to reducing regulatory costs by 25% by 2030 and says it is ready to work with governments to deliver further reforms.