Hon Paul Goldsmith
Minister for Regulatory Reform
Parliamentary Under-Secretary for Regulatory Reform
21 April 2017 Media Statement
Better regulation through better impact analysis
Regulatory Reform Minister, Paul Goldsmith, and Parliamentary Under-Secretary for Regulatory Reform, David Seymour, say
changes to Regulatory Impact Analysis (RIA) requirements will lead to better informed decision making by Parliament and
“Our laws and regulations have a profound effect on our economic performance, the operation of business, and the
well-being of every New Zealander,” says Mr Seymour.
“High quality policy advice is the foundation of robust government decision-making. Poor quality regulation
unnecessarily increases the costs of doing business and reduces New Zealanders’ freedom.
“Although the quality of RIA from government departments has improved over time, it is still highly variable.”
The changes to the RIA requirements are designed to:
• Increase the use of economic and cost-benefit analysis
• Ensure that impact analysis is fit for purpose
• Increase transparency of the impact analysis
• Encourage earlier and broader engagement on proposals by agencies
“These improvements are in line with the findings of a newly released report by Castalia that was commissioned by the
Treasury and will help ensure the government regulates in the right way, at the right time and only when necessary,”
says Mr Seymour.
“The changes also reflect feedback from the business community suggesting costs of regulation are insufficiently
The changes to RIA requirements are a key part of the Government’s new Regulatory Management Strategy, also announced
“At the core of the regulatory management strategy is the government agencies’ role as regulatory stewards, and the
expectation that they will actively monitor and maintain regulation to ensure it delivers the intended benefits,” says
“Rapid societal, market and technological changes are increasing the demand for more sophisticated and nimble regulatory
solutions, strategies and regulators.
“While we have a well-established reputation for our fiscal management and reporting disciplines, the challenge is to
build that same level of discipline around government regulation.
“Good regulation is an important driver of national competitiveness, productivity and living standards, which all
contribute to the Government’s clear economic plan for building a faster-growing economy with more jobs and rising
incomes to support New Zealanders and their families.”
The Castalia report that informed the RIA changes can be found HERE
The Regulatory Management Strategy can be found HERE