A Strategic Framework for the Information Economy

Citation
Commonwealth of Australia, A Strategic Framework for the Information Economy (Dec. 1998) (not available online).

Overview
This report set out the Australian government's strategy for the information economy. The government's policy approach to consumer protection gave preference to industry self-regulation over government intervention. The Australian government gave a number of advantages to self-regulation, including its ability to:


 * provide flexibility in promoting "best practice" in industry rather than minimal compliance with legal requirements;
 * foster industry innovation;
 * be designed for the specific requirements of an industry;
 * result in lower compliance costs on business;
 * provide quick, low-cost dispute resolution procedures that are favored by both consumers and business; and
 * be combined with other forms of regulation, allowing for a mix of regulatory approaches.

Industry, consumers and government working together would develop effective self-regulation.