Cost of Regulation skyrockets28 August 2018
The Australian economy, meaning the private sector has to overcome the dead weight of the big rock of government regulation every minute of every dy. The attached article in the Australian newspaper on Monday clearly documents this burden. This cost has skyrocketed especially in Queensland and Victoria. In Victoria the cost is annually $28.6 B which is 45% of the States total general revenue! The total increase in the cost across all States and Federal Government over the four years to 2018/19 is $20.46 B.