Fed: Government to cut business red tape

AAP General News (Australia)
12-19-2006
Fed: Government to cut business red tape

CANBERRA, Dec 19 AAP - The federal government is to cut some of the red tape between
businesses and government, possibly saving companies billions of dollars a year, Treasurer
Peter Costello said today.

"Government reporting requirements from the various levels of government impose a significant
burden on Australian business," Mr Costello said in a statement.

"The recent Report of the Taskforce on Reducing Regulatory Burdens on Business considered
that getting rid of unnecessary regulatory compliance costs could save business billions
of dollars per annum."

The new initiative, "Standard Business Reporting", will aim to reduce the number of
different agencies to which businesses have to report the same or similar information.

It will also aim to standardise the amount of data that businesses report to government,
while looking for a greater degree of automation.

"The participation of state and local governments, and close consultation with the
business community, will be crucial to achieving the maximum benefits for Australian businesses,"

Mr Costello said.

AAP cb/sb/wjf/de

KEYWORD: BUSINESS

2006 AAP Information Services Pty Limited (AAP) or its Licensors.