Regulatory Reform Omnibus Bill 2026; Second Reading

Continued the debate

Spender supported the bill as a useful step toward reducing regulatory burden but argued that the government needed to implement more significant structural changes. Spender highlighted that compliance costs had risen from $65 billion in 2013 to $160 billion, and board time spent on compliance had increased substantially. Spender moved a second reading amendment calling for measurable regulatory reduction targets, senior public servant accountability for rightsizing regulation, sunset clauses for new instruments, and greater independence for the Office of Impact Assessment. Spender also urged the expansion of the National Productivity Fund to match the scale of previous competition policy reforms.

Government response

Mulino stated that the government had agreed to remove schedule 2, part 3 of the bill following discussions with members, to ensure the legislation could pass quickly. Mulino defended schedule 2, part 4, explaining that removing mandatory adverse allegation notifications would save approximately 450 hours of administrative work annually and reduce stress for individuals not involved in complaints. Mulino outlined that the bill amends 25 acts, repeals two acts, and improves operations for 18 agencies, contributing to a $10.2 billion annual reduction in regulatory burden. Mulino emphasised that the reforms would simplify reporting requirements, accelerate refunds for importers, and support a tell-us-once approach for government interactions.