A new wave of deregulation is likely coming to the Land Down Under.
The Australian Small Business and Family Enterprise Ombudsman, Kate Carnell, has recently embraced the Australian federal government’s new policies that are a part of its deregulation agenda and she looks forward to cooperating with the task force to see these policies through.
“The next wave of deregulation reform, announced by Prime Minister Scott Morrison, is a step in the right direction to make it easier for small businesses to employ staff and invest in growth,” Carnell stated.
She also stated the following:
“Of particular interest is the government’s plan to deal with the degree of regulatory complexity, the length of time for approvals and duplication across levels of government. This has the potential to be a game-changer for Australia’s 2.3 million small businesses and family enterprises. We will continue to work with the government to achieve the best possible outcomes for the small business sector.”
Once implemented, this program will be good news for Australia.
Australia seems to be following in America’s positive footsteps by pursuing a deregulation agenda. The Trump administration has already set a positive tone on deregulation by signing an executive order which repealed regulations by a 2:1 ratio. This has allowed businesses of all sizes to operate with less bureaucratic rigmarole and expand their operations.
Australia’s is already one of the freest economies in the world, with an envious 5th place in the Heritage Foundation’s 2019 Index of Economic Freedom. Australia’s ranking in this index is no coincidence. It has an Anglo-Saxon origin similar to the United States’ which promotes strong property rights, the rule of law, commerce, and the respect of basic civil liberties.
Since 2016, there has been a notable shift to the Right in the Anglo world. Although the Right has historically been disappointing when it comes to living up to its limited government marketing, it appears that the current iteration is slightly more faithful to their principles than their predecessors. Deregulation would represent a good start for these parties. Not only are these policies in line with the vision of limited government, but they also legitimately help people of all economic backgrounds and create a new stakeholder class that is now able to build businesses with greater ease.
If Prime Minister Morrison is able to see these deregulation reforms through, Australia will keep its place in the top 5 freest economies in the world and possibly move further up the ranks. A more economically free Anglo-Saxon bloc can serve as a strong moral example for the rest of the world to follow.