Gina Rinehart says we need to be more like Asia and have less regulation

Mining heiress Gina Rinehart says too much government regulation is hurting Australians, small businesses and the economy.

Mining magnate Gina Rinehart

Billionaire Gina Rinehart says too much government regulation is hurting Australians & the economy. (AAP)

Billionaire mining heiress Gina Rinehart says rules and regulations are killing jobs.

The mining magnate wants Australian governments to be more like those in Asia.

"Over-regulation has become a brake on our country," she said.

"It's killing jobs and crushing our entrepreneurial spirit."

Mrs Rinehart generated controversy two years ago when she said Australians should be willing to work for $2 a day like in African countries and that poorer people were jealous of Welathy Australians and that they should "spend less time drinking or smoking and socialising, and more time working".

In the speech which was released today Mrs Rinehart highlighted a calculation by accounting firm Deloitte that government regulation cost Australians $250 billion a year.

"Whether it's in mining or retail or the corner pub, someone has to pay for the impact of government," she said in a speech to the Small Business Association of Australia in Darwin on Saturday night.

"It's a problem with many western nations but in Asia, less so.

"Governments to our north encourage and are enthusiastic about investment.

"In fact they'll often open doors to make things happen."

Mrs Rinehart said cuts to compliance costs would also help small business.

"Small business is in our DNA and we should do all we can to make it grow," she said.

"All of us, be we employers in small business, or employees, need to drive such message to Canberra, state governments and the media."

The chairman of iron ore explorer Hancock Prospecting also reiterated her call for a special economic zone to be created in northern Australia.

"It's Australia's economic blind spot, but with less government and more common sense attitudes, reduced taxes, less red tape and less government burdens - it could become our powerhouse," she said.


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