Victorian reform initiative to save business $200m

A new reform package in Victoria is set to save businesses up to $200 million.

by | 17 Nov, 2021

Victorian reform initiative to save business $200m

The Regulation Reform Incentive Fund is a $40 million package that will support 50 reform initiatives aimed at reducing regulatory burden, including streamlined applications and approvals, improved access to information and faster operational licensing registration and renewals.

These savings will come from quicker approvals and easier interactions with government, expediting nearly 18,000 approvals per year and cutting wait times by nearly 30,000 days.

Industries including early childhood education, real estate, conveyancing, engineering, taxis and rideshare will see operational licences, renewals and registration digitised, saving up to 1.5 hours on each application.

The online hospitality registration portal Streatrader will be expanded, incorporating hairdressers, tattooists and beauty therapists – providing an additional 14,000 businesses with simplified registration and compliance management.

The traffic management industry will save time and money with a dedicated online self-service site, reducing wait times on up to 15,000 applications per year.

Consumers will also benefit from an online destination empowering Victorians to make more informed choices about building services – including trades, architects, lawyers and engineers.

More than 30 industry peak bodies, small businesses and councils participated in roundtable meetings with ministers and the parliamentary secretary to the Premier, delivering a robust reform agenda funded for delivery through 2022.

The full list of regulatory reforms can be found at dtf.vic.gov.au/regulatory-reform-program

“This regulation reform is about helping businesses thrive across Victoria. We’re ensuring Victorians have fast and easy access to government services that save time and money by cutting paperwork,” the Minister for Regulatory Reform, Danny Pearson, said.

“Increased digital services with streamlined Government interactions will support Victorian businesses in our continued economic recovery, enabling delivery of more services, experiences and products across the state.”

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