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AAP
AAP
Business
Jacob Shteyman

Red tape setting back businesses billions and counting

Jim Chalmers Australia Coal Mining
A report has found unnecessary red tape is costing businesses and the economy $160 billion. (Joel Carrett/AAP PHOTOS)

Red tape in Australia has gotten so thick, compliance has become a major industry in its own right.

In 2024, businesses employed 52,000 dedicated workers just to comply with regulation, a report released by the Australian Institute of Company Directors on Monday claims.

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