David Seymour Highlights Key Achievements and Future Plans

Ministry for Regulation Marks One Year of Cutting Red Tape and Boosting Economic Growth.

The Ministry for Regulation has completed its first year of operation, with Minister for Regulation David Seymour declaring that it is paving the way for better law-making, higher productivity, and increased wages.

“One year ago, we set up the Ministry for Regulation with a clear mission: to cut red tape and improve the quality of regulatory systems across New Zealand. These systems have long been barriers to economic growth, costing individuals time, money, and sanity,” said Mr. Seymour.

Key Achievements in the First Year

The Ministry has already delivered several deregulatory measures benefiting businesses, workers, and consumers, including:

Regulatory Sector Reviews:

Completed the first sector review into Early Childhood Education (ECE), with fifteen recommendations aimed at reducing compliance costs, encouraging new providers, and expanding parental choice. Cabinet will review these recommendations later this month.

Delivered a second sector review into Agricultural and Horticultural Products, with all sixteen recommendations accepted by Cabinet. Implementation will save up to $272 million by simplifying approval processes for farmers and growers.

Launched a third sector review into the hairdressing and barbering industry, aimed at updating outdated rules. Recommendations will be announced soon.

Regulatory Improvements Across Multiple Sectors:

Advocated for changes to Buy Now, Pay Later (BNPL) regulations to ensure the model remains viable and affordable for consumers.

Worked with agencies to address pressing regulatory issues, including:

Anti-Money Laundering (AML) requirements to reduce unnecessary burdens on businesses.

Gift card regulations to provide more consumer flexibility.

Emergency responder access to medicines to improve response efficiency.

Regulations on bakers concerning flour particle concentration.

Estate management laws to support those administering property for individuals lacking decision-making capacity.

Partnered with MedSafe and the Ministry of Health to review and modernize restrictive regulations in the industrial hemp sector, with a goal of unlocking economic growth by 2030.

Public Engagement and Red-Tape Reduction:

Received and triaged over 600 submissions via the Red-Tape Tipline, identifying and addressing regulatory barriers affecting New Zealanders.

Forwarded 122 regulatory issues to the relevant agencies for resolution, while actively working on an additional 150 cases.

Developed best practice guides and training modules to improve the efficiency of the Government regulatory workforce.

Regulatory Impact and Policy Reform:

Revised the Cabinet Circular on Regulatory Impact Analysis, expanding the Ministry's role in policymaking. This ensures that regulatory impact assessments are integrated earlier in the legislative process, leading to fewer but more effective regulations.

Led the preparation and public consultation for the Regulatory Standards Bill, a landmark reform set to transform the regulatory landscape and enhance economic efficiency.

Looking Ahead: The Ministry's Second Year Priorities

Building on its first-year successes, the Ministry for Regulation is set to:

Support the Regulatory Standards Bill through Parliament to create a lasting framework for better regulation.

Conduct additional sector reviews, targeting industries where outdated regulations hinder economic activity.

Continue addressing red tape concerns from New Zealanders by streamlining regulations.

Further assist government agencies in designing more efficient and effective regulatory measures.

A Call for Meaningful Reform

Mr. Seymour emphasized the necessity of regulatory reform for national prosperity:

“Bad regulation kills our prosperity in three ways: it increases costs, stifles innovation, and fosters a culture of regulatory fear. Many governments have made empty promises about cutting red tape, but this Government is committed to real change. Now is the time for a significant regulatory reset.”

As the Ministry for Regulation enters its second year, its work will continue to shape a more efficient, less burdensome regulatory environment that benefits all New Zealanders.