Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Quality regulation would make business more competitive

Media release
16 July 2014


Quality regulation would make business more competitive


Recommendations to improve the quality of regulation are important and should be heeded, says BusinessNZ.

The Productivity Commission’s Regulatory Institutions and Practices report highlights New Zealand’s tendency to create too many poor quality regulations.

Inferior regulation loads unnecessary costs on individuals and also on business, making it less competitive and making people poorer.

The report points out that regulatory failure contributed to disasters such as the global financial crisis, Pike River and leaky buildings.

“New Zealand is passing hundreds of laws and regulations every year,” BusinessNZ Chief Executive Phil O’Reilly said.

“But the machinery to manage this rapidly growing stock of regulation is lacking. We need better systems to get more simplicity, consistency and transparency.”

He said the Productivity Commission’s recommendations were highly pertinent.

The recommendations include requiring:

• a government plan for managing the stock of regulation
• a government plan for improving regulation quality
• more use of public ‘exposure’ drafts for Bills
• a review of the responsibilities of the Minister for Regulatory Management
• regulators to publish information on the information and principles informing their regulatory decisions
• government departments to publish their plans for keeping their regulatory regimes up to date

Mr O’Reilly said higher quality regulation would reduce the compliance burden on firms and enhance their competitiveness.


ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Tourism: China Southern Airlines To Fly To Christchurch

China Southern Airlines, in partnership with Christchurch Airport and the South Island tourism industry, has announced today it will begin flying directly between Guangzhou, Mainland China and the South Island. More>>

ALSO:

Dodgy: Truck Shops Come Under Scrutiny

Mobile traders, or truck shops, target poorer communities, particularly in Auckland, with non-compliant contracts, steep prices and often lower-quality goods than can be bought at ordinary shops, a Commerce Commission investigation has found. More>>

ALSO:

Auckland Transport: Government, Council Agree On Funding Approach

The government and Auckland Council have reached a detente over transport funding, establishing a one-year, collaborative timetable for decisions on funding for the city's transport infrastructure growth in the next 30 years after the government refused to fund the $2 billion of short and medium-term plans outlined in Auckland's draft Unitary Plan. More>>

ALSO:

Bullish On China Shock: Slumping Equities, Commodities May Continue, But Not A GFC

The biggest selloff in stock markets in at least four years, slumping commodity prices and a surge in Wall Street's fear gauge don't mean the world economy is heading for another global financial crisis, fund managers say. More>>

ALSO:

Real Estate: Investors Driving Up Auckland Housing Risk - RBNZ

The growing presence of investors in Auckland's property market is increasing the risks, and is likely to both amplify the housing cycle and worsen the potential damage from a downturn both to the financial system and the broader economy, said Reserve Bank deputy governor Grant Spencer. More>>

ALSO:

Annual Record: Overseas Visitors Hit 3 Million Milestone

Visitor arrivals to New Zealand surpassed 3 million for the first time in the July 2015 year, Statistics New Zealand said today. The record-breaking 3,002,982 visitors this year was 7 percent higher than the July 2014 year. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news