Productivity Commission to report on prioritizing, evaluating regulatory reform.
The Australian Government’s Productivity Commission, as part of its annual review of regulatory burdens on business, has announced that it will publish a report on areas in need of regulatory reform and methods for evaluating reform outcomes.
The Commission will prioritize regulatory reform efforts according to what will create the “greatest net benefit.” The Commission will evaluate the cost of undertaking a reform, the depth and breadth of a reform’s impact, and a reform’s general appeal to the public.
In addition to performing a cost-benefit analysis, the Commission will also rely on historical frameworks and approaches from both Australia and overseas to identify which regulations are in need of reform.
The Commission is currently soliciting public comments in the form of written submissions on how best to prioritize and implement regulatory reform efforts as well as evaluate reform outcomes. The comment period will last until July 29, 2011.
The Productivity Commission is an independent research and advisory body of the Australian Government. Its goal is to improve the welfare of the Australian community by providing information to assist governments with policy-making.