"Cutting red tape is a core part of our Industry Innovation and Competitiveness Agenda, because we know that creating a lower cost, business-friendly environment for Australian industry is integral to building Australia's competitiveness," Minister for Industry and Science Ian Macfarlane said.
"It's clear that businesses want us to remove unnecessary paperwork and processes that cost them time and money and give them more time to focus on what really matters - building Australia's productivity.
"The Industry and Science portfolio will continue working to strengthen the investment and operating environment for businesses, so they can create jobs and prosper in a global market."
Macfarlane said among the initiatives to reduce red tape were streamlining the way businesses interact with Government through the Single Business Service, the Industry Growth Centres initiative helping businesses with strategies to grow, and removing processes that create double-ups between jurisdictions.
"These are examples of the common sense approach we're taking as a direct result of listening to industry and its ideas for reform," Macfarlane said.
"My Department has developed a new webpage to create an open and transparent dialogue with industry and make it easier for industry to contribute to policy and programme development."
Macfarlane said some of the estimated savings included $18.6 million to the building and construction industry including through making the National Construction Code available online free of charge and $26.77 million from the removal of prescriptive energy efficiency assessment and verification processes on over 460 large energy users.
