Imagine your business navigating a maze blindfolded. That’s the reality for many Australian enterprises struggling under the burden of excessive regulation.
CPA Australia has thrown down the gauntlet, demanding a dramatic shift in approach from the government. Their 2025 pre-budget submission isn’t just a list of recommendations; it’s a battle cry for a business revolution, a five-point plan to dismantle the regulatory walls and unleash a new era of economic growth.
Gavan Ord, CPA Australia’s Business Investment and International Lead, doesn’t mince words. “The regulatory environment has made Australia a less attractive place to do business,” he said. “A significant contributor to this perception is the increasing volume and complexity of regulation. Individual regulations could be well-designed, but the cumulative regulatory burden can overwhelm businesses, especially SMEs.
“The government needs to abandon its regulate first, ask questions later approach that is creating so much uncertainty, confusion and headaches for businesses trying to focus on growing.
“Bad regulation is the straitjacket holding back the economy. Businesses understand the need for robust regulatory frameworks, but the government should be taking a more deregulation based approach that frees up the time and resources businesses need to focus on their priorities.”
Mr Ord said the government’s release of its first National Small Business Strategy is another missed opportunity to properly engage with business and create a clear and coherent vision for growth. “Small business operators are looking for a substantive strategy from government – one where they can see clear benefits for themselves and the economy as a whole, but this failed to deliver,” he said. “The fact that the main takeaway from the National Small Business Strategy is that different levels of government should work more closely together epitomises the problem.
“A massive culture shift is needed from all levels of government – from viewing additional regulation as the default solution to embracing practical approaches such as education and better enforcement of existing laws, at the same time, maintaining the necessary safeguards for businesses and consumers.
“We need governments that foster economic growth, not ones that assume they can regulate the economy into prosperity.”
But there’s a way out. CPA Australia’s five-point plan offers a compass and a map to navigate the regulatory maze:
- Digital Dynamite: Imagine a world where interacting with the government is as seamless as online banking. CPA Australia calls for a massive investment in technology and data to streamline digital interactions between businesses, their advisors, and government agencies. No more endless forms, no more frustrating phone calls – just efficient, digital-first solutions.
- Regulatory Roadkill: Outdated, ineffective regulations are like roadblocks on the highway to success. CPA Australia demands regular reviews of existing laws and regulations to identify and eliminate the “regulatory roadkill” that’s clogging the system. Only regulations that are fit for purpose and truly benefit the economy should survive.
- Have Your Say: Currently, businesses often feel like they’re being regulated at, not with. CPA Australia champions a more inclusive public consultation process, ensuring that businesses have a real voice in shaping the regulations that affect them. After all, who knows the challenges and opportunities better than the people on the front lines?
- RegTech Revolution: Imagine software that automatically handles compliance, freeing up businesses to focus on growth. CPA Australia wants to ignite a “RegTech revolution” by incentivizing the development and adoption of Regulatory Technology solutions. This means less time spent on compliance and more time spent on innovation.
- Levy Lockdown: Businesses are often hit with a barrage of industry levies, some of which provide questionable value. CPA Australia calls for stricter assessments of these levies, ensuring they are justified, transparent, and contribute to tangible benefits for the industry.
CPA Australia’s message is clear: it’s time for a regulatory reckoning. The government must shift from a culture of “regulate first, ask questions later” to one that empowers businesses to thrive. This five-point plan isn’t just about cutting red tape; it’s about unleashing the potential of Australian businesses and building a stronger, more prosperous future. The time to act is now. The regulatory labyrinth must be conquered.
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CPA Australia’s pre-budget submission lays out five critical recommendations to dismantle the suffocating regulatory burden News, Budget, CPA Dynamic Business