But Labor leader Bill Shorten has lashed the repeal of some of the laws and legislative safeguards, including the Australian charities commission and the Future of Financial advice legislation designed to protect consumers seeking financial advice.

In a speech to the parliament to mark the repeal of more than 8000 regulations and 1000 laws, Mr Abbott said his government's mission was "not bigger government; it's bigger citizens with more opportunities".

Mr Shorten, however, accused Mr Abbott and his Assistant Treasurer Arthur Sinodinos of avoiding parliamentary scrutiny by changing the financial advice regulation, rather than through new laws.

The Prime Minister told the parliament that next Wednesday's repeal day would be the first of many, with two due to be held each year, and reeled off a multiple examples of regulatory overburden and redundant laws.

Australia ranked 128th on the world index of government regulatory burden while the nation's productivity growth ranking was second last, according to The Economist, just ahead of Botswana.

And he criticised the previous government for passing 21,000 new regulations in the six years from 2007, contrasting it unfavourably with just 513 pages of legislation passed by the first parliament after federation.

"More regulation is not the solution to every corporate, community or personal failing,'' he said.

"To the Australian people, I say, this is about saving you money, saving you time, and trusting your common sense to make more choices about your life.''

Directly addressing the repeal of the Australian Charities and Not-for-Profits Commission, Mr Abbott said the sector "didn't deserve a new level of scrutiny".

But Mr Shorten said abolishing the body, which had the support of the sector and which actually helped reduce red tape, was a major concern.

"You would think the charity sector would be calling for its removal and shouting about the red tape burden but the reverse is true," he said.

"The Abbott Government has managed to unite 54 leaders from the charity segment.

"We have 54 leaders from the sector taking the unprecedented action of issuing an open letter to retain the current framework and let me say this is courageous by these charities."

Mr Shorten also singled out the repeal of the FoFA legislation, arguing it reduced protections for mum and dad investors.

"The Assistant Treasurer was upfront during Senate estimates about his game plan, to prescribe new regulations to dismantle the current consumer protection laws as soon as the Parliament rises next week with immediate effect so there will be no parliamentary scrutiny of these changes, none,'' he said.

Labor had gone through numerous rounds of consultation about the laws, he said, which came after the collapse of Storm Financial.

"So having seen the lessons of Storm Financial, those people opposite turn their back on the experience of history and I cannot say when the next financial disaster will happen,'' he said.

"I know one thing –- because of what you are doing, you are guaranteeing another Storm Financial and upon your heads it will rest."

Mr Shorten said the opposition would give the bills careful consideration and support the repeal of laws from 1901, for example, but would not simply wave through all the proposed changes.

Laws and regulations set for repeal include:

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