Earlier this week (March 26) the government met to clear unnecessary legislation in what has been called the first of many future Repeal Days.

The Australian National Retailers Association (ANRA) Chief Executive Officer Margy Osmond said the event signalled an encouraging step forward in the Federal Government’s approach to regulatory reform.

“These moves are an acknowledgement that the current regulatory burden discourages innovation in products, increases costs and ultimately impacts on business’ ability to compete on a global stage,” she said in a March 26 media release.

The Repeal Day was announced in January this year as part of a measure to “remove the shackles placed on Australian businesses”. The initiative was expected to clear more than 8,000 pieces of unnecessary legislation from the books, significantly reducing administrative burden for organisations across the country.

With redundant and outdated laws removed, retailers in Australia can focus on the relevant legislation and requirements needed for growth. This includes ensuring your retail insurance covers any additional staff or building expansions.

“The retail sector is Australia’s engine room of jobs and productivity growth and one of the few sectors continuing to create jobs at a time of rising unemployment,” Ms Osmond explained.

“Our sector will create more than 420 new jobs per week over the next four years – with the potential to create more – if the Abbott Government can deliver on its plans to clear out the red tape and bring down the barriers.”

While Ms Osmond believes Repeal Day is a “step in the right direction”, she admits that more needs to be done to truly boost Australia’s retail industry. She identified a number of important reforms required to encourage growth, including increasing trading hours and reviewing competition law.

“Retailers look forward to working with [Parliamentary Secretary to the Prime Minister Josh Frydenberg] to continue efforts to reduce red tape and regulation that will enhance competitiveness, jobs and lower prices for all Australians,” Ms Osmond concluded.