18 June 2016
The Daily Telegraph
The most significant issue that is being overlooked in the federal election campaign is the increasing size of both levels of government in Australia, and the very high cost of their approvals, permits, licences and compliance.
Despite the Australian economy benefiting from the strong commodity prices of the past decade, record government debts were created, partly due to increasing government size and the cost of increasing regulation and compliance burdens.
Australia must act more urgently in this commodity prices crash to significantly cut the costs of doing business to ensure that we stay competitive internationally, and protect the living standards that we enjoy today.
Yet there is one giant cost slab that isn’t decreasing: government.
According to the International Monetary Fund, Australia has the fastest growth in government spending among 17 comparable countries and the third highest growth in net government debt among 17 comparable countries. Based on the IPA’s calculations, government red tape is Australia’s largest industry.
To read the complete article, click Daily Telegraph Article by Gina Rinehart.
Courtesy of the Daily Telegraph