Ten principles for Australian Government policy makers

  1. Regulation should not be the default option for policy makers: the policy option offering the greatest net benefit should always be the recommended option.
  2. Regulation should be imposed only when it can be shown to offer an overall net benefit.
  3. The cost burden of new regulation must be fully offset by reductions in existing regulatory burden.
  4. Every substantive regulatory policy change must be the subject of a Regulation Impact Statement.
  5. Policy makers should consult in a genuine and timely way with affected businesses, community organisations and individuals.
  6. Policy makers must consult with each other to avoid creating cumulative or overlapping regulatory burdens.
  7. The information upon which policy makers base their decisions must be published at the earliest opportunity.
  8. Regulators must implement regulation with common sense, empathy and respect.
  9. All regulation must be periodically reviewed to test its continuing relevance.
  10. Policy makers must work closely with their portfolio Deregulation Units throughout the policy making process.