The Organisation for Economic Co-operation and Development (OECD) has praised Australia as a world leader in good regulatory practices.
The 2021 International Regulatory Policy Outlook report compares member countries’ efforts to improve the quality of regulatory decision making and serves as a global benchmark for best practice.
The OECD’s assessment is based on three key indicators: stakeholder engagement in developing regulations, regulatory impact analysis, and evaluation of existing regulations. Australia is ranked highly for each indicator.
Australia’s regulatory settings play a vital role in the health of our economy. Settings based on evidence and best-practice analysis are important for our economic recovery as a nation.
Fit-for-purpose regulation means fewer burdens on individuals and businesses, making it easier for Australians to go about daily life.
Executive Director of the Office for Best Practice Regulation (OBPR), Jason Lange, says regulatory impact analysis is the framework that ensures proposed changes will fix the issue they intend to, and that unintended consequences can be identified early and addressed.
‘When substantial new policy decisions are sought, it must be accompanied by an assessment of how the change will impact businesses, individuals and society.
OBPR supports the public service to produce these assessments,’ said Mr Lange.
‘OBPR works with all departments and agencies to consider whole of Government and broader societal and economic impacts. Agencies can access support from the OBPR at any stage of the policy development cycle.’
‘Together we can scope policy problems early, build the required evidence base and identify and analyse a suite of genuine and viable policy options that will solve the problem.’
‘Through good impact analysis we can continue to uphold these internationally regarded standards, and ensure that Australian decision makers have the best possible evidence,” Mr Lange concluded.
In addition to impact analysis, Australia's Deregulation Agenda helps make sure our regulation is fit for purpose. This involves whole-of-government initiatives such as deep dives undertaken by the Deregulation Taskforce, a focus on regulator performance, regulatory impact analysis, and a stewardship approach to regulation.
Visit the OBPR website to learn more about impact analysis, access training and support or to contact us.