A draft report from the Productivity Commission makes the case that farm businesses are currently under a vast array of regulations and that governments could reduce the regulatory burden on farms in a number of ways.
According to Michael Potter from the CIS, it makes key arguments against the ban on GMO’s and foreign shipping, while calling for less restrictions on foreign investment and reducing the monopoly of marketing regulations. It makes landmark assessments by “confirming yet again that foreign ownership of farm land won’t endanger Australia’s food security or sovereign control and won’t cut employment opportunities for locals.
While the costs of regulations are high, the benefits of maintaining and expanding them are dubious at best. It’s time to take note of this independent inquiry, focus on evidence based policy outcomes, and improve the situation for Australian farm businesses.