0

Shopping cart

South Australian businesses save $111 million in red tape

Share on linkedin
Share on facebook
Share on twitter
Share on email

An independent audit has found the Government is on track to reach its target of reducing red tape by a further $150 million over three years.

Minister for Industry and Trade Tom Koutsantonis says a report by Ernst and Young shows government agencies have already identified initiatives that have the potential to deliver $111 million dollars in savings to South Australian businesses, with 18 months to go until the deadline is reached.

“The Red Tape Reduction Program is about helping South Australia to stay ahead of the pack in a competitive business environment.

“According to KMPG’s 2010 Competitiveness Alternates Report, Adelaide is the second cheapest city in Australia to set up and do business, marginally behind Melbourne.

“We are the most cost-competitive city in Australia for the Corporate Services and Research and Development Industries.

“The State’s finances are in a sound position, boasting a AAA credit rating, we have an abundance of major projects either underway or in the pipeline, which are worth $71.5 billion, and employment is at a record level.

“There is no doubt in my mind that South Australia is the best place to live and work.

“We need to build on the economic momentum in South Australia, and give local businesses every opportunity to outperform their interstate and overseas rivals.”

Ernst and Young conduct an audit of the Government’s progress every six months.

The Red Tape Reduction Program is overseen by the Competitiveness Council, chaired by Minister Koutsantonis.

Its achievements, including progress of the Red Tape Reduction Program, are made public in annual reports.

The 2009-10 report, due next month, will confirm the final outcomes from Phase One – which saved businesses an estimated $168 million.

Share on linkedin
Share on facebook
Share on twitter
Share on email

Subscribe

The Australian Business Executive (The ABE) provides an in-depth view of business and economic development issues taking place across the country. Featuring interviews with top executives, government policy makers and prominent industry bodies The ABE examines the news beyond the headlines to uncover the drivers of local, state, and national affairs.

All copy appearing in The Australian Business Executive is copyrighted. Reproduction in whole or part is not permitted without written permission. Any financial advice published in The Australian Business Executive or on TheABE.com.au has been prepared without taking in to account the objectives, financial situation or needs of any reader. Neither The Australian Business Executive nor the publisher nor any of its employees hold any responsibility for any losses and or injury incurred (if any) by acting on information provided in this magazine. All opinions expressed are held solely by the contributors and are not endorsed by The Australian Business Executive or TheABE.com.au.

All reasonable care is taken to ensure truth and accuracy, but neither the editor nor the publisher can be held responsible for errors or omissions in articles, advertising, photographs or illustrations. Unsolicited manuscripts are welcome but cannot be returned without a stamped, self-addressed envelope. The publisher is not responsible for material submitted for consideration. The ABE is published by Romulus Rising Pty Ltd, ABN: 77 601 723 111.

© 2019 - The Australian Business Executive. All rights reserved.