Senate Economics Legislation Committee, , 2:09:15 to 2:31:20
Senator Roberts discusses the burden of red tape, green tape, and compliance costs on private enterprise, questioning the Treasury's role in monitoring these impacts.
Topics: Law reform, Climate change
Speakers: Hon Katy Gallagher, Speaker 14, Jenny Wilkinson, Senator Lisa Darmanin
Thank you, Chair. Thank you for appearing today. I've looked over this uh Treasury organisational structure, a lot of boxes there. And I can't see a function on here for assessing monitoring or costing compliance costs imposed by the government on private enterprise having specific reference to matters administered by your department, such as taxation. Do you have that function? Who has that function? Monitoring.
Uh so Senator, we have um there's so perhaps the two different things. So within revenue group, um we have a team that is responsible for the oversight of the Australian Taxation Office, so the administration of the Australian Taxation Office. So that's a Specific function which sits within revenue group. In international group, the foreign investment decision, sorry, the former foreign investment division is responsible for the administration of the foreign investment laws. And so the all of the way in which that policy is implemented sits within foreign investment group. More broadly, in markets group. Now that work, there is some work that takes place within Treasury for those areas of policy we have direct responsibility for.
What's the correct figure, please? If you don't know, how can we have any hope of reducing red tape?
Well, I think again the whole of government regulatory reform area sits in the Department of Finance, and we have brought two bills to this parliament which have passed in this session. So it's not like I I hear a lot of just slash red tape, just cut this, cut that. But it was done after years of consultation. So that's we'll continue to bring things forward to the Parliament to have better regulation. Hopefully that means less, but better regulation, I think is what everyone's after.
So in addition, thank you. In addition, you mentioned the EBBC Act. That's green tape, then there's blue UN tape, compliance with their policies, then there's black tape, a lot to do with property rights. But I just want to talk about red tape, or listen, learn about red tape. The compliance costs of red tape does not add to business output. It's a drain on business productivity, GDP, and ultimately the living standards of all Australians who are here. It is, though, an issue that apparently you give no time to. Why don't you care about the compliance costs of the measures you're implementing? Well, that's government is a net burden, drain on our economy. It's an imposition. Well massive.
I mean, that's your assertion, but you know, Senator Roberts, give me an example of a piece of red tape that you would want taken away.
Everything that the climate change debtor is.
Well, that I thought you just said that was all green tape, but so yes, but equally there are many reasons why you do provide regulation. I mean, this is the thing. A lot of people go cut red tape, cut red tape, cut red tape, but don't actually provide any you know substantive idea of what they would like to see reduced. Often it's across government, so it's local government, it's states, its territories, and the commonwealth has a role to play here. We are open and engaging with business about sensible and better regulation, and my door is always open for ideas. I'm urging people to come forward and provide that to me.
I'm pleased you're pleased you mentioned.
We will suspend the process. Yeah, so I was just gonna let people know. Um Senators still have questions for corporate. So anyone who's not related to corporate can leave. Um but we do have the next session with the RBA that is set. So we will suspend now, resume at 11.15 with the RBA, and then we will come back to uh representatives from Treasury of Corporate at 1.45, which is when the next session is straight after RBA. Welcome back everyone.