Australia’s productivity is being choked by red tape, with the combined cost of administering and complying with public and private sector bureaucracy costing the nation $250 billion every year. The administration costs alone are $48 billion per year.
Australia is a lucky country, with a bright future. But we have a problem – and its colour is red. Red tape, that is. There’s too much of it…and we need to address the grip it has on our economy. There is a rich source of barely tapped efficiency savings we can turn to – fewer and better rules to drive creativity, innovation and productivity.
Reproduced with permission from Deloitte