New Zealand has a large and complex regulatory system, with as many as 200 different regimes, a large number of regulatory agencies, and more than 10,000 people employed in administering regulation. It is a major piece of government infrastructure, and is as significant as the tax and spending systems in terms of its impact on the lives of New Zealanders. Why does regulation matter? Chair of the Productivity Commission Murray Sherwin explains in this video.
Done well, regulation improves our wellbeing – allowing us to better reach our social, environmental and economic goals. The big challenge is to design regulation and regulators for the future that are clear in their purpose, are designed to maximise the chances of achieving what was intended, and are adaptable to risks and changing circumstances. Murray Sherwin explains what good regulation looks like in this video.
Through this inquiry, the Commission was asked to identify where and how to make improvements in the quality and effectiveness of government regulatory institutions and practices.