Submission to the Treasury Discussion Paper - Addressing the high cost of home and strata title insurance in North Queensland

Australian governments have recognised that efficient and effective regulation is necessary and desirable to facilitate the smooth functioning of the economy and to ensure that social, economic and environmental aims are achieved. However, excessive, poorly-designed and overlapping regulation places a significant cost burden on Australian businesses and consumers. Governments should not act to address ‘problems’ through regulation unless a case for action has been clearly established. Moreover, any regulatory or legislative response should be proportional to the issue or ‘problem’ being addressed.