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Australia needs its own version of a Trump to cut wasteful red tape and spending, to get the cost of living down and encourage economic growth.Red tape is proliferating because it is easy to come up with new rules—to protect against online scams or the warming of the planet—but very hard to get rid of them. From Buenos Aires and Delhi to London and Washington, politicians desperate for growth want to be rid of unnecessary bureaucratic hurdles. Done right, this could usher in greater freedom, faster growth, lower prices and new technology. As our Briefing sets out, Americans spend a total of 12bn hours a year complying with federal rules. Mr Trump is right to take the sledgehammer to these layers of bureaucracy, but he risks causing the sort of chaos and suffering that would give deregulation a bad name. The question, for him and others, is how to make reforms bold enough to count but coherent enough to succeed.
Australia needs its own version of a Trump to cut wasteful red tape and spending, to get the cost of living down and encourage economic growth.
Red tape is proliferating because it is easy to come up with new rules—to protect against online scams or the warming of the planet—but very hard to get rid of them. From Buenos Aires and Delhi to London and Washington, politicians desperate for growth want to be rid of unnecessary bureaucratic hurdles. Done right, this could usher in greater freedom, faster growth, lower prices and new technology.
As our Briefing sets out, Americans spend a total of 12bn hours a year complying with federal rules. Mr Trump is right to take the sledgehammer to these layers of bureaucracy, but he risks causing the sort of chaos and suffering that would give deregulation a bad name. The question, for him and others, is how to make reforms bold enough to count but coherent enough to succeed.
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