INDEPENDENT NEWS

World’s Best Practice Needed for Govt Regulations

Published: Mon 30 Nov 2009 02:07 PM
MEDIA STATEMENT
Monday 30 November 2009
Embargoed Until 1.30 pm
World’s Best Practice Needed for Government Regulations
Up to a third of the gap between New Zealand and Australian incomes could be bridged by ambitious regulatory reform alone, the 2025 Taskforce said today.
“Contributors to the Taskforce’s work have given us shocking examples of the ways in which current New Zealand regulations have held back their business plans and ideas,” Taskforce Chairman Don Brash said today.
“We certainly do not recommend moving to regulatory open slather, just that New Zealand regulations be brought more into line with best practice as found in countries such as Canada, the United States and the United Kingdom. International evidence suggests this alone could bridge up to a third of the income gap of 35% between our two countries – currently equivalent to $64,000 for a family of four.”
The centrepiece of the Taskforce’s regulatory recommendations is the passage of a Regulatory Responsibility Bill. Along with other measures, this would ensure that much more rigorous analysis would be undertaken before the powers of central and local government agencies were extended, and that more rigorous and transparent cost-benefit analyses were used to guide decisions on government spending, especially capital spending.
It further recommends that the Resource Management Act must be reviewed from first principles and that a system of tradable water rights be introduced.
Lower house prices for new entrants to the market should be achieved through reforms that require local government to increase the supply of residential-zoned land when land prices rise sharply as they have done in recent years.
In labour law, the Taskforce recommends that the highest-paid New Zealanders should have the benefit only of contract law, with those earning less than $100,000 continuing to have the protection of specialised flexible employment law. A youth minimum wage would be re-introduced and longer probationary periods be permitted to assist the most vulnerable workers to enter the workforce.
In international trade policy, the Taskforce says New Zealand’s last remaining tariffs should be removed and foreign investment restrictions reduced. Fonterra should be encouraged to become a conventional company and Zespri’s export monopoly removed.
In addition, the Taskforce recommends that property rights be added to the Bill of Rights Act, the Commerce Act be reviewed and an independent Productivity Commission be established.
ENDS

Next in New Zealand politics

Government and Air NZ agree to manage incoming bookings
By: New Zealand Government
New Investment Creates Over 2000 Jobs To Clean Up Waterways
By: New Zealand Government
David Clark resigns as Health Minister
By: New Zealand Government
Green Party Proposes Transformational Poverty Action Plan
By: Green Party
New protection for dolphins
By: New Zealand Government
Auckland water consent referred to Board of Inquiry
By: New Zealand Government
Hamish Walker - A Personal Statement And An Apology
By: New Zealand National Party
Labour will extend loan scheme 'lifeline' for small business - PM
By: RNZ
Winston Peters on EU travel: 'We're not going to compromise our country's health'
By: RNZ
Infrastructure Investment To Create Jobs, Kick-start COVID Rebuild
By: New Zealand Government
Government Strengthens Managed Isolation System
By: New Zealand Government
ACT Announces List For 2020 General Election
By: ACT New Zealand
Air New Zealand Limits Capacity On Inbound International Services
By: Air New Zealand
Border Lockdown Shows Labour Governing For Labour
By: ACT New Zealand
Cash Boost For Wairarapa Waterways
By: Marcus Anselm - Local Democracy Reporter
View as: DESKTOP | MOBILE © Scoop Media