Many of our problems can be traced to poor productivity, and poor productivity can be traced to poor regulation. In nearly every sector, we hear complaints that red tape increases compliance costs and creates missed opportunities by stopping productive activity. Our No. 8 wire culture is gradually eroding as people find it more attractive to do less.
But there’s no serious attempt to deal with red tape. Good regulation is done poorly, and MPs and media pay little attention to it. As a result, Ministers and bureaucrats face little incentive to regulate responsibly, and our productive economy suffers as a consequence.
ACT is proposing a new Minister and Ministry of Regulation to control the impacts of regulation like the Minister of Finance controls the supply of money taxed from New Zealanders.
The Minister and Ministry would ensure new and existing regulations meet tough new standards and would put red tape on the chopping block.
The key functions of the Minister and Ministry would be to:
These proposals are needed to hold Ministers and departments accountable for regulating New Zealanders’ lives.