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Focuses on the move of Australia's Defense Minister Robert Hill to work on a defense policy update for a comprehensive assessment of the country's strategic position and future requirements. Importance of the white paper in resolving the crucial issue surrounding the primary focus of defense capability; Details on the national security strategy of the country; Role for the country's Defense Force in counter-terrorism strategy.

The article discusses the effects of red tape in businesses. According to Gavan Ord, certified public accountant business policy adviser in Australia, streamline of internal policies can increase organisational red tape. Red tape can cause burdensome systems and processes due to the broad category of red tape; however, red tape can also bring a positive effect but an up-to-date policies and balance are needed. Tips on how to avoid strangulation of business due to red tape are included. INSET: HOW TO AVOID STRANGULATION.

The article focuses on the release of the federal government white paper that establishes the Carbon Pollution Reduction Scheme in Australia particularly the emissions reduction target and the range of permit prices. The rule is considered as one of the government's biggest economic reforms after the implementation of goods and services tax (GST). David Mitchell of Energetics explains how the rules will affect companies and their customers. Other details about the scheme are presented.

Reports on the Victoria government's publication of an options paper for reforming the public and private hospital system. Terms of the options paper.

Reports on the Victorian government's proposal to abolish compulsory registration for property valuers. Reaction of the valuation industry; Impact of the legislation on the industry; MacQuarie Bank associate director for property investment banking Chris Breach's paper report `Property Market Changes.'

Reports on lessons to be learned by Australia in the choice legislation for pension funds in Britain and Chile. Mis-selling of personal schemes and other problems with the end of state earnings-related pension scheme (SERPS) in Britain; Chile's easing of the restrictions of switching between private pension funds; Sales agents in Chile earning commissions for clients' switching; Paper by the Australian Institute of Superannuation Trustees.