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PM announces stimulus and deregulation to get business booming

- November 21, 2019 < 1 MIN READ
scott morrison in parliament

The prime minister Scott Morrison has told the Business Council of Australia he wants to reduce red tape that is inhibiting businesses from growth.

In an address to the Council on Wednesday, the PM claimed that the government want to get major projects off the ground sooner and ease the regulatory hoops that businesses must navigate to get projects fact-tracked.

The PM suggests that the time frame to get projects approved could shorten to as little as six months if businesses made better use of technology.

The move follows an announcement by the government of a $3.8 billion stimulus package aimed at getting major infrastructure projects underway.

It is expected $1.27bn will be fast-tracked funding over the next 18 months.

Morrison expects the infrastructure spend will support the economy by creating construction activity and jobs and by reaping longer run productivity gains.

The PM suggested existing industrial relations agreements are hampering businesses and said the government will take a fresh look at existing awards systems to “eliminate administrative clutter”. The PM said the government will also be turning its eye upon award compliance and workplace agreements to make it simpler for businesses to remain compliant.

“While the number of awards has reduced, it appears that they have not become simpler – indeed many believe that they have become more complex,” the PM said.

Other reforms announced by the PM under its “deregulation agenda’ included establishing a new business registry to allow sole traders to easily update regulatory information, a new digital export documentation process, and online tools to assist small businesses to employ new workers.

 

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