Government Unveils Plans to Reduce Red Tape and Boost Investment

"This Government is committed to getting regulation right. Good regulatory settings attract more investment and achieve higher productivity and wages for New Zealanders," Minister Seymour stated.

The New Zealand Government has reaffirmed its commitment to fostering a more business-friendly regulatory environment, with Minister for Regulation and Associate Finance Minister David Seymour outlining key initiatives at the New Zealand Infrastructure Investment Summit.

"This Government is committed to getting regulation right. Good regulatory settings attract more investment and achieve higher productivity and wages for New Zealanders," Minister Seymour stated.

To streamline the regulatory process and enhance business efficiency, the Government has established the Ministry for Regulation. This new ministry is tasked with ensuring that regulatory frameworks prioritize the needs of businesses and reduce unnecessary bureaucratic hurdles. Additionally, in November 2023, the Government launched the Red Tape Tipline, an initiative designed to collect feedback from businesses and address excessive regulatory burdens.

The Government is also focused on making foreign investment in New Zealand businesses easier, faster, and more transparent. Minister Seymour emphasized that improved regulatory processes would encourage both domestic and international investors, fostering economic growth and innovation.

"When businesses can invest in better machinery and tools, workers are more productive. And when productivity increases, wages rise. Overseas investment also means businesses have access to valuable knowledge, expertise, and global networks that help them market their products more effectively," he explained.

These regulatory improvements are expected to create a more dynamic business environment, ensuring that businesses can operate efficiently, expand their capabilities, and contribute to the overall economic development of New Zealand. The Government remains focused on fostering a pro-business climate that supports investment, productivity, and job creation.