The reforms were developed by the Council on Federal Financial Relations (CFFR), the national cabinet’s key financial work group, which is made up of treasurers from each jurisdiction and national cabinet said it has committed to eliminate unnecessary red tape and duplication across different levels of government.
Mr Frydenberg said the wide-ranging reforms detailed in the work Priorities will deliver practical changes to charge the post-COVID-19 economy.
“Small and medium businesses are the engine room of our economy and will benefit from these reforms which focus on eliminating instances where rules and regulation overlap,” the Treasurer said.
“The changes will eliminate unnecessary red tape and provide a much more common-sense approach for business.”
The Minister Assisting the Prime Minister and Cabinet, Ben Morton, said the reforms will deliver significant benefits and build on the regulatory pain points identified by businesses.
“Business told us that when interacting with regulators, they don’t necessarily distinguish between different levels of government – they just see government,” Mr Morton said.
“We are reducing costs by aligning the priorities with the messages from business to tell governments once, leverage trusted overseas standards, and streamline requirements across jurisdictions to improve national consistency.
“We’ve achieved more in this space through National Cabinet than what COAG could in a decade.”
