A SWAG of reforms intended to cut red tape agreed to at the premiers` meeting will save businesses tens of millions of dollars a year in compliance costs.
Prime Minister Kevin Rudd said the Council of Australian Governments (COAG) agreed to achieve "uniform national systems" in 14 key areas in its aim for a "seamless economy".
These included uniform laws in occupational health and safety, a national system of trades licensing and a new national approach to the registering of business names.
"These are practical measures, practical measures that mean a lot to those operating in the business area today," Mr Rudd said after the meeting in Sydney.
"It actually is the most significant regulatory reform that we`ve achieved as a nation in more than a decade, and some would argue, since the beginning of the federation.
"That is, bringing national uniformity in these critical areas."
He said businesses have often complained about the compliance cost of operating a business across state boundaries in Australia.
NSW Premier Morris Iemma said the COAG agreement would save businesses tens of millions of dollars a year.
The new agreement on occupational health and safety would harmonise the different regimes that currently operated across states and territories which resulted in "unnecessary cost and complexity" particularly for those that operated across jurisdictions, the COAG communique said.
But Mr Iemma said there would be no reduction in safety in the workplace.
Today`s agreement also will adopt a national approach to trades licensing rather than the varying requirements which currently exist between states, which will allow for a "more mobile workforce".
A new Business Names Registration system will be a new one-stop shop for companies to apply for their name and Australian Business Number in one step.
A new Standard Business reporting program that will "radically streamline the myriad of financial reporting requirements", also was agreed to.
The commonwealth is committing $243 million to this program over four years, and business will save $800 million each year once it is fully implemented.
Victorian Premier John Brumby said the world economy had some challenges at the moment and would make things tough over the next six months.
"For many businesses it will be a more difficult environment," Mr Brumby said.
"So the more that we can do as governments to remove unnecessary regulation to make it a seamless national approach, that is going to help businesses and is going to help them compete in both the national and international economy.
"It is something that is being very strongly supported by our state, we believe very passionately that if we want to have competitive global businesses you have got to remove some of the red tape that holds them back."
COAG also agreed to measures that will result in better protections for financial consumers across Australia.
The commonwealth will take over responsibility for the regulation of trustee companies, mortgage broking, margin lending and non-deposit lending institutions as well as remaining areas of consumer credit.
COAG also plans an electronic conveyancing system by 2010. Share this article
