Scrapping MBR project welcomed but more reforms needed

Governance Institute of Australia welcomes the decision by the Federal Government to scrap the Modernising Business Register project, but only if a new plan is implemented to support business reforms.

The announcement came as the Governance Institute kicked off its 2023 International Governance Leadership Conference at Sydney’s Hilton Hotel.

In her opening address to the conference, Governance Institute Chair, Pauline Vamos said it’s hoped the decision to move on from the project will lead to a boost in the nation’s productivity.

‘We are relieved that the Government has finally decided to end the project and seek a more cost-effective way to improve the governance and management processes of our business registers,’ Ms Vamos said.

‘Improving infrastructure and reducing regulatory burdens on organisations is one of the Institute’s major priorities. Business registers are critical infrastructure and we are well past the time to modernise them.’

As a member of the Modernising Business Registers Business Advisory Group, the Institute has been a longstanding supporter and advocate of Government initiatives to modernise business registers.

But cost blowouts and poor design made the project untenable, and it became clear that the MBR project was undermining these initiatives.

‘The failure of the MBR project is an unfortunate set-back, but the goals of the project remain critical,’ Ms Vamos said.

‘Action to rectify the situation is urgent, otherwise we will be left with a patched system that has been straining to operate efficiently for some years.’

Ms Vamos said the modernising agenda must be maintained, with increased funding to fast-track business productivity reforms.

For interview requests and further information, please email media@governanceinstitute.com.au or contact Antonette Collins, Senior Manager, Media and Communications on 0477 949 604.

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