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RESEARCH PAPER: The Good the Bad and the Ugly: Economic perspectives on Regulation in Australia

This paper was delivered 2 October 2003 by Gary Banks, chairman of the Prodcutivity Commision. It highlights the substantial resources expended by governmnet on regulation, which federally are 30,720 staff and $4,566 million per annum in costs. One fascinating revelation is how tax "reform" has caused the Income Tax Act to grow from 1000 to 6700 pages from 1985 to 2003. The Act when it was first introduced in 1936 had 120 pages, about the same length as the now Tax Return Guide. You can download the paper at: www.pc.gov.au/speeches/cs20031002/cs20031002.pdf

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