Luke Howarth (Petrie, Liberal Party, Shadow Assistant Treasurer) Share this | Hansard source

I rise to speak in support of the Excise and Customs Legislation (Streamlining Administration) Bill 2024. This bill represents a critical step in implementing the final elements of the former coalition government's deregulation agenda, as laid out in the March 2022 budget.

Despite being delayed by the current Labor government, which postponed its implementation until 1 July 2024, this legislation is essential for reducing red tape and fostering economic growth.

The Australian Law Reform Commission's report, Confronting complexity:reforming corporations and financial services legislation, underscores the need for urgent reform. The ALRC's findings make it clear that Australia's overly complex and lengthy corporate laws are harming our economy, leaving consumers uncertain of their rights, deterring investment and stifling competition for Australia's 2.5 million small and family businesses.

With Australia lagging in productivity among the G20 nations—the worst of all of them—it is imperative that we address these issues to reduce costs, boost competition and enhance productivity, given that productivity has fallen so much under the Albanese Labor government.

Key provisions and impacts include, first, licence streamlining. The bill eliminates the need for businesses dealing with dutiable alcohol or fuel to renew their excise or customs warehouse licences, thereby removing associated fees and charges. This results in immediate and ongoing cash savings for these businesses. Second is consolidation of licences. Businesses operating multiple manufacturing or warehousing sites can now consolidate their various excise and customs warehouse licences into a single entity-level licence, simplifying their operations. Third is the freer movement of goods. The bill allows for freer movement of dutiable goods between licensed sites without requiring repeated regulatory permissions, facilitating more efficient business operations and leading to lower costs for consumers. Fourth is a public register. Establishing a public register of entities holding such licences enhances transparency and ease of access to information for businesses, reducing the need to contact regulators for verification. Fifth is administrative relief. The bill removes unnecessary administrative burdens for onshore oil producers by exempting them from excise licences unless specific production thresholds are exceeded.

These measures align with the coalition's commitment to reducing regulatory burdens, consistent with the recommendations of the Morrison government's deregulation taskforce. This priority on deregulation was reiterated in our recent policy proposals and budget responses, aiming to support the business sector and stimulate economic growth. There is no doubt that there are economic challenges under the Albanese Labor government, and the coalition recognises the broader economic challenges Australians are facing right now. With inflation rising and productivity falling, it is vital to implement measures that streamline operations and reduce costs for businesses. The coalition left the Labor government a comprehensive roadmap for productivity, including the Productivity Commission's Advancing prosperity review and the ALRC's Confronting complexity review. These reports contain critical insights and recommendations that must be acted upon to drive economic reform and enhance productivity. The Australian Law Reform Commission has underscored the damaging impact of regulatory complexity on the Australian economy. Yet, under the Albanese Labor government, we are seeing more laws, more regulations and more taxes at a time when our economy is slowing down and Australians are doing it tough.

The Excise and Customs Legislation Amendment (Streamlining Administration) Bill 2024 will benefit businesses across Australia by simplifying regulatory requirements and reducing costs. This bill is a step in the right direction, but it is only before this parliament because deregulation was a priority for the former coalition government. Labor wouldn't be doing it if it wasn't for us. But we need to see more economic reform, not less, to make sure that Australians are better off and that the economy improves. Only a Liberal government can deliver this. We need a back-to-basics economic plan that gets Australians back on track.

A coalition government, under the Liberals and the Nationals, will deliver a stronger economy and alleviate pressure on the housing market, which has gone through the roof under the Albanese Labor government. It's seen rents and mortgages increase and more people homeless, which we'll no doubt see in the 2026 census if things don't improve. A coalition government will support small and family businesses to make sure that costs don't continue to go up and get passed on to consumers. A coalition government will deliver more affordable and reliable energy. Despite the government saying that bills would fall, we've seen energy costs go through the roof under the Albanese Labor government. And a coalition government will increase workforce participation. This will reduce the cost of doing business, and that will improve Australians' confidence and enhance economic growth. The coalition proudly supports this bill, which implements good coalition policy that will allow businesses to thrive and contribute to the economy's growth.

Debate adjourned.

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