Ministry for Regulation news – May 2025

In this edition , our Chief Economist Kevin Counsell shares his insights on the importance of good economics in regulation. We take a look at what we've achieved since we were established, provide updates on our upcoming and current regulatory reviews, and share progress on the Regulatory Standards Bill. Plus, we highlight how we're supporting better regulatory outcomes across the system and invite you to watch our joint webinar series, The art of good regulation.

The importance of good economics in regulation

A note from Kevin Counsell, Chief Economist

I joined the Ministry for Regulation in February as Chief Economist. My role is to make sure we bring robust economic thinking to the way we analyse regulation, so that our advice is grounded in evidence and the likely impacts of regulation are well understood.

A common question I’m asked is: why economics? Many people think of it as being all about money, but economics is actually about how people make decisions – how they weigh up trade-offs and respond to incentives. Since regulation is one of the key ways government influences decision-making, economics has a central role to play in helping us understand what works and what doesn’t.

At the Ministry, we’re applying economic analysis to a wide range of work – from our sector reviews and policy advice, to the Regulatory Standards Bill. For example, cost-benefit analysis helps us weigh up the real-world effects of regulatory proposals. Economics gives us tools to understand when markets need intervention – and when regulation might create unintended consequences, like unnecessary compliance costs or barriers to innovation.

We have built a culture that puts robust evidence at the centre of regulatory decision-making. I’m excited to be part of this work, to support the people and entities affected by regulation, and to work with colleagues across government to make sure regulation delivers better outcomes for all New Zealanders.

Kevin Counsell
Chief Economist
Ministry for Regulation

The Regulatory Standards Bill

The Government is progressing the Regulatory Standards Bill which aims to improve the quality of regulation in New Zealand.

Regulation Minister David Seymour says “this Bill will help the Government achieve its goal of improving New Zealand’s productivity by ensuring that regulated parties are regulated by a system which is transparent, has a mechanism for recourse, and holds regulators accountable to the people.”

The Bill also establishes a Regulatory Standards Board, and includes provisions to support the Ministry for Regulation in our work to improve the quality of regulation.

You can read more about our work, and the proposed Bill on our website.

Our next regulatory review

The Ministers for Regulation and Media and Communications have announced that our fourth regulatory review will look at the telecommunications sector.

The review's terms of reference are now being developed with input from regulated parties, industry leaders, consumer groups and regulators. 

What we’ve done

We’ve updated our website to show how we’re cutting red tape and making regulation work better for New Zealanders.

One recent example is our work to remove an outdated rule that was stopping millions of dollars’ worth of medical conferences and events from being held here.

BusinessNZ and the business events sector told us strict rules on advertising unapproved medicines were blocking international medical trade shows. This meant lost tourism revenue and fewer opportunities for our health professionals to learn about new treatments. Business Events Industry Aotearoa estimated the loss at up to $90 million.

We reviewed the law, worked with Medsafe and the Ministry of Health, and advised ministers. The Government has now agreed to reform the law so in-development medicines can be discussed and debated at medical events in New Zealand.

This removes red tape, supports the events sector, and helps bring the latest medical innovations to local health professionals.

Check out our new ‘What we’ve done’ page to see more ways we’re reducing the burden of regulation.

Update on our regulatory reviews

Early Childhood Education regulatory review (ECE)

Since our last update, Cabinet has agreed to all 15 recommendations that will modernise and simplify regulations across the sector. The implementation steps were announced by Regulation Minister David Seymour in April.

The Review found that the current ECE regulatory system is not well equipped to ensure high-quality, safe, and accessible early childhood education services that parents need. The recommendations we made will help guide reforms to create a strong regulatory system that makes sure our youngest children are educated and safe, while simplifying compliance, driving down costs and increasing competition.

The Ministry of Education and the Education Review Office are working together to implement the recommendations.

Agricultural and horticultural products regulatory review

In our last update we were about to deliver our final report on the review into agriculture and horticultural products.

Overall, the Review found that the existing regulatory systems are effective in managing product risks. However, the approval path does not always enable efficient and timely access to products. A range of issues were identified, including the uncertainty and timing of assessments, the lack of strategic direction, disproportionate and complex regulation, and concerns relating to regulators’ resources, tools and engagement.

An area of significant concern is that the Environmental Protection Authority’s risk assessment models are outdated and not fit-for-purpose, leading to overly conservative risk management. It is estimated that reducing the current approval times for new products by half can generate economic benefits of $272m over 20 years.

In February, Cabinet endorsed all 16 recommendations that will improve the proportionality, efficiency, transparency and certainty of the approval pathway. 

Hairdressing and Barbering industry regulatory review

Our final report on the review of the hairdressing and barbering industry is complete and will go to Cabinet for consideration.

Supporting better regulatory outcomes across the system – RegRoom 

One of the key ways regulators can connect and build capability is through RegRoom – our online learning and collaboration space for government regulators. Here, you can access the Regulatory Practice Essentials online learning modules, and soon, join Communities of Practice to share advice, problem-solve, and connect across agencies.

To access RegRoom, click hereopen_in_new and sign up with your work email. For support, contact us at systemcapability@regulation.govt.nz.

Our Ministry is continuing to support agencies across the public service to strengthen their regulatory practice. We're seeing more interest from organisations looking to better understand and improve their regulatory systems – whether that’s through system mapping, capability assessments, or structured approaches to regulatory strategy and design.

By offering early advice and sharing good practice resources, the Ministry is helping agencies take a structured approach to strengthening their regulatory systems. This work is part of our broader role as a central agency to support more effective, joined-up regulation across the public service. It’s about lifting regulatory maturity system-wide – so that regulation better serves people, communities, and outcomes.

Webinar series: The art of good regulation

We're running a joint webinar series with the New Zealand Institute of Economic Research (NZIER), exploring The art of good regulation.

The first webinar, held on 1 May, focused on regulatory practice. Kevin Counsell, our Ministry’s Chief Economist, spoke about the role of the Ministry for Regulation and shared insights into how we’re working to lift the quality of regulation to support better economic outcomes. Sarah Hogan and Dr Bill Kaye-Blake from NZIER explored what makes regulation effective, relevant, and innovation-ready.

If you missed the first session, you can watch the recording here.open_in_new

The second webinar will focus on regulatory design, and the third will explore regulatory stewardship. A member of our leadership team will represent the Ministry on each panel.

Keep an eye on our LinkedIn pageopen_in_new for upcoming dates and registration details.