Annual Review of Regulatory Burdens on Business: Business and Consumer Services

This Productivity Commission report - Annual Review of Regulatory Burdens on Business: Business and Consumer Services Sector - identifies ways to reduce the regulatory burdens on businesses in the finance and insurance, accommodation and food services, professional, scientific and technical services, and arts and recreational services sectors. <p>Notwithstanding some progress, there is still duplication and inconsistency in regulations between different jurisdictions of Australia's federation that are hard to justify. These include those regulations applying to migration lawyers, architects, and property laws. Removing or reducing such inconsistencies will reduce business costs and increase the scope for better, cheaper services for the community. <p>Consultation processes remain a weak point when developing regulations. In many areas consultation lacks transparency, continuity and time frames are too short. <p>The Commission identified several key areas where regulations can be made less burdensome for business while maintaining or improving services. These include harmonising personal and corporate insolvency laws, changes to regulations related to superannuation, changes to the treatment of foreign investors in commercial real estate and changes in the regulation of what should be included on restaurant menus.