Dennis Jensen (Tangney, Liberal Party) Share this | Hansard source

It is very difficult to follow a comedy act, but I will try.

We shape our buildings, and afterwards our buildings shape us.

So said Winston Churchill, and today we invoke such vision and leadership. The coalition government prides itself on being responsible stewards of the Australian economy. The primary focus of this amendment is to peel back the overregulation that detracts from the purpose of the legislation in its initial form.

The Commercial Building Disclosure Program, supported by the Building Energy Efficiency Disclosure Amendment Act 2010, has been one of the most cost-effective attempts at reducing energy use in commercial buildings. With reduced use comes reduced costs. That is a real win for business. With this amendment bill we have the opportunity to streamline administration and reduce the regulatory burden on business. This amendment, a savings multiplier, is necessary and called for by the community. I have spoken before on the importance of keeping the regulatory burden subdued. Key to this is focusing on regulatory amendments that help keep compliance costs down. Compliance costs are a wet blanket on the flame of free enterprise and competitive business. Overregulation is the 'hungry, hungry hippo' of the economy. Unlike the lovable children's board game, overregulation leaves everyone the poorer—the people, the economy, the nation.

By passing these building efficiency amendments the government will reduce the regulatory burden on industry, streamline the administrative process of the Commercial Building Disclosure program and address concerns of these stakeholders who have been waiting years for these amendments to pass. These amendments will modify the Building Energy Efficiency Disclosure Act. That bill required sellers—

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