Wholesale regulatory reduction to get economy moving
A National Government will make wholesale regulatory
reduction to reduce cost and compliance on businesses and
help get the country moving again, National’s Economic
Development spokesperson Todd McClay says.
Zealanders and their business are struggling under the
weight of poor regulation and mounting costs. National
understands how hard it’s become for the average Kiwi
household and Kiwi business and we will focus on reducing
the cost of regulation for hardworking New Zealanders.
“One of the most common things I get feedback about
when I’m out and about is how the Anti-Money Laundering
legislation is applied. It was introduced so New Zealand was
compliant with international obligations and to protect our
interests against illegitimate money laundering.
“The reality is the legislation has influenced how New
Zealanders do business which has resulted in more costs. To
fix this, National will be providing guidance to industry
via a National Policy Statement. This means the law will be
interpreted how it’s meant to be, in a less costly manner.
“Health and safety is important and National will
not compromise the safety of New Zealanders.
“However, we are conscious the existing health and
safety regulations go too far in some places without making
people safer and burden businesses with added cost for no
“Put simply, the health and safety regulations need more common sense from the rule makers. That’s why we’ll implement a ‘common sense test’ which makes sure the benefits of each regulation outweighs the costs, makes health and safety regulations easier to implement and ensures that we have better regulation not just more regulation.
“Only National understands the burdens that are being placed on households and businesses by excessive red tape. We will ensure families have more money in their pockets, we will lower costs and ensure red tape isn’t stopping progress.”