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Cap and trade on red-tape costs - an excellent idea

Comments on Oliver Marc Hartwich “Cap and trade our way out of red-tape pollution”, 19/05/2010, http://www.theaustralian.com.au/news/opinion/cap-and-trade-our-way-out-of-red-tape-pollution/story-e6frg6zo-1225868389302

An excellent idea!

I would make two additional points:

1. Any accounting and future audit should be conducted by independent agencies/institutions with highest transparency possible to ensure their reliability.

2. Specify personal penalties for the chief person in charge of a bureaucratic agency any breach of that cap. The first chief must bear the penalties to ensure the accountability. Penalties should include severe monetary losses, demotion or sacking.

A side but related issue is that some kind of similar accountability should be imposed on elected politicians as well for their effects on regulations, and for serious public policy failures.

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