New Zealand’s economic potential is being stifled by a regulatory culture of “no,” argues Bryce Wilkinson.
Bureaucratic hurdles make everything from expanding a port to hosting a concert a logistical nightmare, while regulatory overkill fuels high costs in housing, construction, and banking.
Even basic reforms, such as allowing tourists to work remotely while visiting, are met with knee-jerk opposition.
Wilkinson says that red tape delays projects for years. The Port of Tauranga expansion—vital for forestry, kiwifruit, and dairy exports—remains stalled. Eden Park faces event caps while New Zealanders fly to Australia for concerts.
The country’s tax system also deters investment, with some of the OECD’s most restrictive depreciation rules.
The regulatory burden extends to industries like supermarkets and construction, where outdated rules protect established players at the expense of competition and affordability.
Importing building materials remains costly and complex due to New Zealand’s insistence on retesting products already proven safe overseas. “Even common materials used safely for years in Australia or Europe face lengthy and costly verification processes here,” Wilkinson writes.
New Zealand’s proposed fast-track consenting process and property rights reforms could bring change, but opposition to reform remains a major barrier.
“The Prime Minister is right about our risk-averse culture,” Wilkinson warns. “But changing bureaucracy takes more than speeches,” he notes.
Centrist Ltd.