If you’ve ever looked at the Explanatory Memoranda and the Impact Statements that accompany new laws you have every right to be cynical: they are either a restatement of the new law or a superficial statement of the real impact. They are certainly not in Plain English or a serious attempt at assessing the compliance costs against the benefits of the regulation.

The Office of Regulation Review is a department of the Productivity Commission. One of its functions is to examine Regulation Impact Statements (RISs) prepared by departments and
agencies and advise on whether they meet the Government’s requirements
and whether they provide an adequate level of analysis.

The issue of business over-regulation will become more prominent as business complain about growing compliance costs.