75562 (2024). Francisco Hernandez to the Minister for Regulation

75562 (2024). Francisco Hernandez to the Minister for Regulation: What evidence, if any, can the Minister provide for their statement on the Minister's foreword of the Regulatory Standards Bill Discussion Document that 'poor productivity can be traced to poor regulations?'

Hon David Seymour: Officials advise that the link between regulatory quality and productivity has been well established in studies undertaken both in New Zealand and overseas. Fit for purpose regulatory settings provide certainty and incentives for business development and innovation, which drive gains in productivity. Conversely, poor-quality regulation can negatively impact productivity, for instance by creating high compliance costs for businesses and individuals, introducing barriers for market entry or innovation, creating uncertainty about property rights, undermining incentives for investment, or causing harm when regulatory failures occur.