Much has been said in the past regarding the prospect of cutting red tape, and the defence is always there are cost savings that benefit home affordability. That may be the case on the surface but what is the real cost to the industry, and where are the impacts?

Government argues 95 per cent of consumers benefit from the removal of red tape, and only five per cent may be adversely affected. Yet the Chairman of the ACCC, Rod Sims, has now agreed privatization that underpins the removal of red tape has not worked. The hidden cost and flow…