New Minister for Deregulation

Kevin Rudd has appointed Lindsay Tanner as Minister for Finance and Deregulation.

According to Smart Company, Tanner won't have a red tape review. He was appointed to oversee cuts to business regulation, while a senior official would enforce the cuts and restrictions. The minister will enforce a promised “one in-one out” approach under which a new rule could only be imposed after another is cut.

"Tanner expect to move immediately on simplifying the disclosure regime for financial services and the harmonisation of state and federal regulations as well as strengthening the regulatory impact statement."