Costs resulting from regulation do not just come from the regulations themselves. The way regulators operate and deliver regulation can have a major effect on the costs imposed and productivity more broadly. That’s why the Australian Government is taking steps to improve the capability and performance of regulators.
Introduced in 2014, the Australian Government Regulator Performance Framework (RPF) is not just for regulators. It will benefit business and the community, including individuals. The RPF provides an opportunity for stakeholders to have a say in the way regulators assess how they administer regulation.
Implementing the Regulator Performance Framework
Taking effect from July 2015, the Australian Government Regulator Performance Framework applies to around 80 Australian Government regulatory authorities to help them reduce regulatory burden, communicate clearly with stakeholders, take risk-based and proportionate approaches to regulation, operate efficiently and transparently, and undertake continuous improvement.
Some stakeholders will be approached by regulators to participate in the review process by providing external validation of the regulator’s self-assessment results or on a review panel for an external review.
For further information, please contact the Deregulation and Small Business Branch at RegulatoryReform@jobs.gov.au