Directors call on next government to act on efficient regulation

  • Date:24 Jul 2013
  • Type:Media Release

The Australian Institute of Company Directors has issued a new policy priorities paper calling on the next government of Australia to take action on key issues for directors, including a new approach to regulation and better consultation with business.

The paper, Governing for a More Prosperous Australia: Key Issues for Directors in the 2013 Election, has been sent to Federal Government ministers, Opposition shadow ministers and all members of Parliament. 

“The coming election gives the nation an opportunity to focus on issues which are vital to Australia’s future, including ways in which we can improve the environment for business and so enhance our productivity growth and the prosperity of everyone,” said Australian Institute of Company Directors Chief Executive, John Colvin.

“Regardless of which party forms the next government, it is an opportunity to rethink not only the way government approaches key issues like regulation but how it works with business.”

“As the fundamental source of income and growth in our economy, private sector business is the wellspring of prosperity for Australia. To improve the living standards and wealth of all Australians it is vital that governments provide the right environment for business.

“This helps maximise job creation, investment and tax revenue, to the benefit of all.”

“We believe deregulation – both stemming the growth in new regulation and cutting back existing red tape - is a crucial part of the new government's economic policy challenge. Creating a new system of efficient regulation is a key element of the agenda for boosting national productivity,” he said.

“That is why we are calling on the next Government, whoever wins the coming Federal poll, to get serious about regulatory reform.”

These views are expressed in more detail in a new paper Towards Better Regulation, which is also being released today. The paper is a follow up from a discussion document released last year and is informed by consultation with business.

Mr Colvin said that getting the regulatory process right was a key issue for the next government.   

“If not just about having less regulation - we need better and more efficient regulation,” he said.

“It is the whole system of creating and removing regulation that needs to be reformed, not just the individual regulations themselves.”

 “We are calling on the Federal Government to show leadership in implementing a reform agenda that will have long term benefits for Australian businesses, Australian jobs and the economy as a whole. While the reforms should be initiated and supported by the Commonwealth Government, there needs to be a consistent national response to the reforms.”

“The new Government should also understand the importance of proper consultation with business on policy proposals and legislation to ensure that unintended consequences and practical problems can be identified and dealt with.”

Mr Colvin said that a starting point for implementing the recommendations for reform set out in the paper could be a Regulation Summit within the first 100 days of the next term of government, bringing together business, senior ministers, key advisers and regulators, to develop an action agenda for reforming the process of regulation creation and ‘destocking’ the existing accumulation of red tape.

He stressed that the reform agenda being put forward on behalf of Company Directors’ more than 33,000 members and the 2.2 million directors in Australia was a policy blueprint for a more prosperous future and not a case of ‘taking sides’ in the current political contest.  

“Company Directors is a non-partisan organisation and we are putting forward these proposals for reform in that spirit.”

“This is a message to whichever side of politics the Australian people give the task of governing after the coming election - we are not necessarily singling out one side or the other for criticism or support or rating either party’s policies. We think these reforms should be adopted, full stop.”

“It is the policies that are important, not the party implementing them.”

Download the above media release (PDF 136KB)

Download the policy priorities paper Governing for a More Prosperous Australia: Key Issues for Directors in the 2013 Election (PDF 344KB) and its Executive Summary (PDF 256KB)

Download the paper Towards better regulation (PDF 955KB)

Media Contacts
Steve Burrell, General Manager, Communications and Public Affairs, (02) 8248 6627 or 0407 708 485
Michelle Wood, Media and Government Relations Adviser (02) 8248 6612 or 0466 665 115