The Finance Minister hopes government regulatory changes will boost productivity.

Minister Katy Gallagher has unveiled a comprehensive strategy that focuses on regulatory modernisation and red tape reduction. 

This initiative, set against the backdrop of easing cost-of-living pressures, signals a significant shift in the government's approach to economic management.

Central to Gallagher's plan is the $27.9 million investment earmarked for 2024-2025 to breathe new life into the regulatory reform agenda. 

This funding, she notes, is a direct response to the previous government's inaction. 

“The reducing red tape agenda was left unfunded by the former Morrison government so this investment will ensure that the team is able to deliver reforms that make a difference for businesses and individuals,” Gallagher says.

The 2024 reform agenda is ambitious, featuring eight key priorities, ranging from Australian Public Service (APS) regulatory overhaul to international standards engagement. 

A central aspect of this agenda is the incorporation of data and digital technology in streamlining government services, a move expected to enhance efficiency and accessibility.

An explainer on the reform website delves deeper into the specifics of APS regulatory reform, emphasising the need for a stewardship approach.

 This methodology advocates for a comprehensive lifecycle view of regulation to meet evolving challenges. 

“We work with regulators across the Commonwealth to adopt a stewardship approach to regulatory reform,” the explainer says, highlighting the importance of maintaining regulation systems as dynamic assets.

Gallagher highlighted four major projects slated for 2024. These include introducing digital statutory declarations via myGov, projected to save an estimated $156 million annually; simplifying the migration process for overseas health practitioners; standardising worker screening across various care sectors; and enhancing food standards to improve consumer choices.