The Abbott government was the first government to reduce regulations for small business since the early Fraser Years. We have had 35 years of more regulations by the federal government.
Little or any thought is given to reducing such. Although the Abbott government did something it must be remembered.
- It backed away from removing the regulation introduced bt Bill Shorten in Financial areas due to the possibilty of more risk.
- It backed away from reducing regulation on gender laws
The Abbott government was timid by any measure and this was our best effort in 45 years.
In a speech to the parliament to mark the repeal of more than 8000 regulations and 1000 laws, Mr Abbott said his government’s mission was “not bigger government; its bigger citizens with more opportunities”.
While this was an achievement the previous governments had passed 21,000 new regulations in 7 years, it must be viewed in that dynamic. Currently Life insurance is set for lots of regulation.
By Terry Murphy Taxassist Accountants 6/2/17 Simple economics.