The Government has today released its preliminary response to the Independent Review of the Australian Governments Regulatory Impact Analysis Process (RIA Review) which considered the existing framework for assessing the impact of new and amended regulations.
Deregulation is a key part of the Governments commitment to improving productivity and supporting business, Minister Wong said.
The Government is committed to conducting rigorous due diligence of regulatory proposals and regular review of existing regulations ensuring that they are effective, without placing unnecessary burden on business.
The Review, conducted by Robert Milliner and David Borthwick AO PSM, made 14 recommendations, including that:

• In all butexceptional circumstances, a Regulatory Impact Statement (RIS) should be split between two stages: an Options Stage and a Details Stage; and
• A RIS should not be required for a regulatory proposal in cases where a fulsome consultation and analysis has already been undertaken through another mechanism, such as the release of a green or white paper or an official review; and
• The Government re-endorse and publicly state its commitment to a mandatory RIA process.

The substantive new proposal for a two stage RIS process would enable options for regulatory proposals to be developed in greater detail with stakeholders before being further considered by the Government and by regulators.
The Government will seek views on the RIA Reviews recommendations before determining its final response by the end of the year.
Consultation will take place over the next four weeks, with submissions to be received by Friday 9 November 2012.
We understand businesses and the community benefit from the Government undertaking rigorous due diligence of any regulatory proposals, Minister Wong said.
Thats why we strengthened the Australian Governments RIA processes in 2010 and committed to publishing regulation impact statements at the time of policy announcements.
And this independent Review which we initiated will further improve the processes for making regulations.
Since 2007, the Government has worked hard to reduce the regulatory burden on business. Already, 17 out of 27 deregulation priorities under the COAG Seamless National Economy agenda have been implemented, which will deliver savings to business of up to $4 billion per year.
Better regulation is vital for enhancing productivity and driving economic growth, Minister Assisting for Deregulation, David Bradbury MP said.
Thats why were working with the states and territories to progress the remaining Seamless National Economy reforms which will deliver significant benefits for businesses across Australia,
Were also driving the next wave of national regulatory reform through the COAG Deregulation Taskforce and the Business Advisory Forum.
Legislation has also recently passed the Parliament to allow the systematic removal of 12,000 duplicative and redundant regulations.
The RIA Review and the Governments preliminary response can be accessed at www.finance.gov.au/deregulation/riareview-preliminary-government-response.html