Cutting $815 million of red tape

GROWING a small business in NSW is now easier following further cuts to red tape that has saved NSW business operators more than $815 million and provides the business confidence to build your own business without obstructive regulation.

Minister for Small Business John Barilaro and Minister for Innovation and Better Regulation Victor Dominello said the red tape reforms deliver a key election commitment that exceeded the original $750 million target by June 2015.

“This is a forward thinking, customer-focused approach by the NSW Government to provide a stronger foundation for small businesses to invest and grow in NSW,” Mr Barilaro said.

“Scaling back red tape allows the mum and dad business owners, who mortgage their homes and take the risks, to grow their businesses and create more jobs,” he said.

Mr Dominello said the focus of the NSW Government is on improved regulation rather than more regulation.

“By utilising technology, innovation and information sharing, there has been a substantial reduction in the amount of regulation in NSW, resulting in social and economic benefits for the community,” he said.

Key reforms include:

• Extending the validity of light vehicle safety inspection reports, or pink slips, from 42 days to six months generated $101 million in cost savings;
• The Opal Card integrated ticketing delivered $44 million in cost savings; and,
• Service NSW Digital Migration Project, e.g. driver licences delivered $39.8 million in cost savings for residents and businesses.

Last year over 93 reforms generated $326.4 million in cost saving measures.

ends