Business NZ Chief Executive Phil O’Reilly says NZ will be the winner in gaining a Productivity Commission. He notes “productivity growth is fundamental to growing a competitive economy. It is of the utmost importance for growing all NZers’ living standards, but it is so easily derailed. Poorly conceived legislation and unnecessary laws can add costs and compliance to businesses and individuals in a thousand ways, depressing productivity growth overall.”

O’Reilly says having a productivity gatekeeper scrutinising proposed new regulation will be a major benefit. The ability of the Productivity Commission to investigate other productivity-related matters will also provide another economic safeguard. He believes it is positive the Commission will have operational consistency with Aust’s highly regarded Productivity Commission. But it will be important the New Zealand Productivity Commission is strictly independent, is unconstrained in its choice of issues for investigation, and is adequately funded.

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But the NZ version will be much smaller than Aust’s. The NZ Commission will have a staff of up to 21 while Aust’s has 190. The NZ Commission’s budget will be $5m carved from existing departmental budgets. As well as inquiries into “productivity-related issues” it will review existing regulations and the effectiveness of regulatory agencies and analyse the impact of some proposed regulations.

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