The Abbott government is planning a "repeal day'' in parliament in March when it hopes to axe more than 8000 federal laws in a push to cut red tape costs.

The Australian reports that the "repeal day'' is scheduled for the final parliamentary sitting week in March and is part of a federal government plan to slash red tape by $1 billion a year.

The Statute Law Revision Bill and the Amending Acts 1901-1969 Bill will propose slashing 8000 redundant laws going back around 100 years.

On the same day, parliament will be presented with a number of bills proposing the repeal of "burdensome regulations''.

The bills are to be debated in the coming weeks, with the government reportedly claiming they'll represent the ``biggest single reduction in federal laws ever put before the commonwealth parliament''.

The "repeal day'' concept is said to be borrowed from the US, where congress has regular repeal days.

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