COMPLIANCE COSTS MUST BE ADDRESSED SAYS LUXTONCommerce
Minister of Commerce, Industry, Fisheries, Lands, and associate Agriculture, Hon John Luxton, today said one of the things the Government must do to help the export sector in particular, and the commercial sector at large, is to continue to look at compliance costs of Government legislative and regulatory requirements.
The Ministers comments follow the release of the latest CPI index which rose by 0.7% in the December 1996 quarter.
Mr Luxton said today, It is vital for our countrys prosperity that we have an internationally competitive economy which will enhance our export sector.
With the current pressure on the productive sector from interest and exchange rates, one of the ways the Government can play its part to assist industry, is to reduce unnecessary red tape and compliance costs.
However Mr Luxton said it was not just central government that needs to work harder on this issue. Local authority rates and compliance costs have been on the increase. Local government also has an obligation to look at any areas they can make improvements.
Mr Luxton said that reducing compliance costs for hard working producers and business people was an area of high priority for him in his new portfolios.
One of the primary roles I intend for the Ministry of Commerce over the next three years is to ensure that the benefits of any proposed changes in legislation, regulations or government spending, justify the costs of that change. The Ministry will also be asked to recommend changes to existing policies to reduce costs, he said.
Mr Luxton also said it is important that Government continue to contain its own spending. Government spending must remain under control, so that our exporters are not shouldering an overvalued dollar and unnecessary inflated interest rates, Mr Luxton concluded.