The efforts of the Australian Government to reduce red tape and make it easier to do business are being noticed around the world, as reflected by Australia's improved top ten ranking in the World Bank's recently released publication Doing Business 2007: How to Reform .
The publication is part of the annual Doing Business series and provides a snapshot of business regulation across different economies in 2006. Australia 's overall ranking amongst the 175 economies included in the Doing Business series is 8th, up from 9th in 2005.
Australia 's rankings improved in four categories of business regulation monitored in the Doing Business database. Australia is ranked 2nd in terms of the ease with which an entrepreneur can start a new business and 3rd for access to credit by businesses.
The improvement in Australia 's top ten ranking by the World Bank is proof that the Federal Government's initiatives are continuing make a good system better, Chris Pearce , Parliamentary Secretary to the Treasurer, said today.
The Government recognises the contribution the business sector makes to the economy and supports the entrepreneurial spirit of Australians through a range of initiatives.
The Government is continuing to improve the regulatory environment for Australian businesses and has introduced a suite of initiatives to reduce the regulatory burden on business, including:
- progress towards the Simpler Regulatory System Bill
- releasing a comprehensive response to the Report of the Taskforce on Reducing Regulatory Burdens on Business Rethinking Regulation, agreeing in full or in part to 158 of the report's 178 recommendations;
- announcing a new annual review process for red tape reduction; and
- strengthening existing arrangements regarding new regulation to require a more rigorous use of cost-benefit analysis including use of the Government's business cost calculator and greater public consultation.
An overview of Doing Business 2007: How to Reform is available at:
www.doingbusiness.org/documents/DoingBusiness2007_Overview_Eng.pdf
8 September 2006
MELBOURNE
Media contact: Gillian Harvey 03 9887 3890 or 0411 567 060