Here is a brief extract from the beginning of a staff discussion paper (pdf) on the regulation of the professions published by the National Competition Council in 2001. I think there’s something missing from it – do you agree and if so what do you think it is?
The challenge of reform, particularly in the context of National Competition Policy reviews of the governing legislation, is to:
- ensure that regulatory restrictions relate directly to the achievement of the public benefit objectives; and
- pursue the objectives of regulation at minimum cost to the public in terms of restrictions on competition or other matters.