Business welcomes govt's new decision to cut green tape

NSW Business Chamber CEO Kevin MacDonald said that the decision by the Federal Government to have just one renewable energy target for Australia will go toward cutting green tape.

A recent report released by NSW Business Chamber had called on all levels of government to reduce and streamline environment regulations or “green tape” as it is has been labeled.

"The challenge for all levels of government over the coming years is to ensure green tape does not stifle the innovation required to meet the climate change challenge.

"While the renewable energy target will provide a boost for all forms of energy generation, there is still a need to examine other policy incentives such as accelerated tax depreciation for increased research and development."  MacDonald said.

"Business understands the challenge climate change presents to Australia and is developing solutions - accelerated tax depreciation provides even more incentive for business to continue its research and development until they find real, innovative solutions.

"The benefits of this supply side incentive system are that finding climate change solutions becomes core business goals for many organisations, not just programs done with small Government handouts that end when the money dries up."