Regulation not always the answer, PM

According to Tony Abbott, regulation is comparable to a fence on top of a cliff.

Sometimes it's necessary, but of limited use in protecting us from ourselves.

The prime minister acknowledged the first instinct of politicians, when confronted with a problem, is to promise "to make it go away".

However, after lighting his "bonfire of the regulations" on Wednesday, Mr Abbott told parliament more restrictions weren't the solution to every corporate, community or personal failing.

A repeal day next week will scrap more than 9500 unnecessary or counterproductive regulations and 1000 redundant acts of parliament.

It will be the first of many such days, Mr Abbott promised.

"There will be at least two a year - because we will make people's lives easier, not harder."

In the government's sights are bodies such as the Australian Charities and Not-for-profits Commission and the Independent National Security Legislation Monitor.

Films will need only to be classified once, and "not again and again" when they are reissued in DVD, blu-ray and 3D.

Financial advisers will have fewer regulatory requirements under changes to Labor's Future of Financial Advice laws.

National businesses will be able to operate under the federal Comcare workers compensation scheme, rather than having to operate in up to eight state systems.

Redundant acts such as the 1970s conversion from imperial to metric measurements, and those governing state naval divisions, will also be abolished.

"Like a fence at the top of a cliff, sometimes regulation is necessary but there's a limit to what government should do to protect us from ourselves," Mr Abbott said.

The repeals would give Australians more control over their own lives.

"We're working for you today by creating the biggest bonfire of regulations in our country's history."

Labor said it was concerned important protections would be lost in the "bonfire".

"We will not allow important protections to be recklessly cut," Opposition Leader Bill Shorten told parliament, questioning the decision to target the charities regulator.

Changes to accountability in the financial planning system - which Labor says water down consumer protections - would leave the industry open to another crisis.

"We put the government on notice ... we do not want to effectively decriminalise financial fraud in this country," Mr Shorten said.