Last week the Productivity Commission released its draft report into regulatory institutions and practices. Regulation affects all New Zealanders every day. Hundreds of regulatory regimes and many thousands of officials and inspectors work in regulation. It’s an essential component of modern, successful societies. But when regulation is done badly it can cause more harm than good. Last week, the Productivity Commission released its draft report into regulatory institutions and practices.
Nobody knows this better than businesses about the impact of regulation. That’s why the commission was so keen to talk to them about their experiences with regulators. We received 53 submissions and had 92 face-to-face meetings – including many with New Zealand’s largest and most-regulated firms.