About Red Tape
Red tape refers to ineffective procedures such as forms, licenses or regulations that are faced including something that is outdated, overlapping, waste or confusion that may reduce the competitiveness of the public sector. Red tape is refers to excessive regulation or rigid conformity to formal rules that is considered redundant or bureaucratic and hinders or prevents action or decision-making.
Why Need To Reduce Red Tape?
Cutting red tape is a priority in our national agenda. Our Government is targeting red tape reduction alongside regulatory reforms that have wider benefits because regulation must be fit for purpose and administratively efficient.
Businesses and public often complain that they spend too much time and devote significant resources to activities such as filling out forms, applying for permits and licences, reporting business information, notifying changes, etc.
Red tape is indeed costly, not just in terms of time and money spent but also in terms of reduced productivity, competitiveness and innovation in business.