NEWS

Business
February 2, 2023

NSW Govt promises to cut cost of doing business if re-elected

In a pre-election campaign commitment, the Perrottet Government said it would appoint a NSW Red Tape Commissioner, with the strict task of delivering $1 billion in reductions of red tape.

For an initial two-year blitz across government, Ministers will be required to identify regulation to remove if they are proposing a new regulation.

All government departments, through their secretary bosses, would be required to present regulations for the chopping block, with the goal of making it easier to do business.

The Liberal and Nationals said they will also boost business opportunities for small and medium-sized businesses by increasing the procurement contracts by more than $2 billion by the end of the next term, to a total of $10 billion.  

They also said they would allocate $1000 for micro and small businesses to engage an expert to provide professional advice to help grow and expand their business.

Premier Dominic Perrottet said NSW needed to take action now to protect jobs and businesses as the whole world faced difficult and strong economic headwinds.

“Our long-term economic plan will protect the NSW economy and recession proof millions of businesses and jobs across our state,” Mr Perrottet said.

Treasurer Matt Kean said the Liberal and Nationals would establish a series of industry taskforces to cut red tape and speed up application and approval times, with the first one focused on small business and local government.

The measures included in the Government’s commitment include:

  • Committing to a target of 1 million small businesses by 2030.
  • Appointment of NSW Red Tape Commissioner, delivering $1 billion of reductions of red tape.
  • An initial two-year blitz across government, Ministers will be required to identify regulation to remove if they are proposing a new regulation.
  • Government departments required to present regulations for the chopping block, with the goal of making it easier to do business.
  • Increasing procurement contracts by more than $2 billion by the end of the next term, to a total of $10 billion
  • $1000 for 10,000 micro and small businesses to engage an expert to provide professional advice to help grow and expand their business.

Article courtesy of The Public Account