Login
iscover
Australia is in desperate need of policies to enhance productivity, competitiveness and prosperity, according to CPA Australia.
Newsletter
Government must fix Australia's ‘bureaucratic nightmare’, warns CPA
05 February 2025
•
7 minute read
CPA Australia is calling for the government to adopt new policies and prioritise reforms that reduce regulatory pressure on Australia in its 2025–2026 pre-budget submission.
You’re out of free articles for this month
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
The professional body suggested multiple policies and reforms in its submission, aimed at enhancing productivity while also addressing key economic challenges such as slow growth, cost-of-living pressures, regulatory burden, rising public debt and skills shortages.
CPA Australia’s business investment and international lead, Gavan Ord, said the government needed to prioritise creating a more business-friendly environment through improved policy development.
“This must be the year of improved government efficiency; whichever party forms the next federal government. The global wind has changed – and we need to ride the jet stream,” Ord said.
“The regulatory environment has made Australia a less attractive place to do business. A significant contributor to this perception is the increasing volume and complexity of regulation.”
CPA’s budget priorities included reducing regulatory burdens, enhancing competitiveness, supporting business adoption of sustainability practices, assisting small to medium enterprises and not-for-profits, and alleviating cost-of-living and business pressures.
CPA also called for policies surrounding a comprehensive review of the tax system, attracting developing and retaining talent as well as improving policy development processes.
In addition to enhancing productivity and competitiveness, the professional body said the government needed to abandon its “regulate first, ask questions later” approach.
Ord noted the approach had been causing uncertainty, confusion and headaches for businesses trying to focus on growth in the economy of complex regulatory burdens.
Individual regulations could be well-designed but the cumulative regulatory burden could overwhelm businesses, specifically SMEs, Ord said.
“Bad regulation is the straitjacket holding back the economy. Businesses understand the need for robust regulatory frameworks, but the government should be taking a more deregulation-based approach that frees up the time and resources businesses need to focus on their priorities,” he said.
“Small business operators are looking for a substantive strategy from the government – one where they can see clear benefits for themselves and the economy as a whole, but this failed to deliver.”
According to CPA, the government continued to miss the mark when it came to supplementing business, with the recently launched National Small Business Strategy being another “missed opportunity.”
Ord said the program failed to provide a clear support pathway to engage with businesses properly and failed to outline a clear and coherent vision for growth.
“A massive culture shift is needed from all levels of government – from viewing additional regulation as the default solution to embracing practical approaches such as education and better enforcement of existing laws, at the same time, maintaining the necessary safeguards for businesses and consumers,” he said.
“We need governments that foster economic growth, not ones that assume they can regulate the economy into prosperity.”
You need to be a member to post comments. Become a member for free today!
