REGULATION UBER ALLES
What should the select committee do? The answer to this is easy. It should do what the Minister should have done when his officials served up the Bill: send it back.
Instead of prescriptive regulations for a bygone era, the new economy needs a regulatory model that is flexible, efficient, and outcomes based. Legislation that incentivises innovation, rather than stifles it.
There is an opportunity here for New Zealand’s regulatory regime to embrace the digital economy and set the standard internationally with a permissive accreditation and licensing regime.