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

 

Media: Julian Wilcox Leaves Māori TV

Māori Television has confirmed the resignation of Head of News and Production Julian Wilcox. Mr Maxwell acknowledged Mr Wilcox’s significant contribution to Māori Television since joining the organisation in 2004. More>>

ALSO:

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Fractals: Thousands More Business Cards Needed To Build Giant Sponge

New Zealand is taking part in a global event this weekend to build a Menger Sponge using 15 million business cards but local organisers say they are thousands of business cards short. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Auckland Outage: Power Mostly Restored Overnight

Vector wishes to advise that all but 324 customers have been restored overnight. These customers are spread throughout the network in small pockets. The main St Johns feeder was restored around midnight allowing most of the customers in all affected areas to have power this morning. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news