Common Experiences Participants in today's discussions drew on their own experience to highlight the benefits that comprehensive and coherent regulatory reform brings to the economy as a whole.
Regulatory reform means both less regulation and better regulation.
It provides greater transparency and predictability for businesses, ensures competition, fosters dynamic innovation, reduces compliance costs, and provides for fuller employment through greater labour market flexibilty. But it also recognises that basic safeguards are necessary for health and safety. It is a prerequisite for flexible, open and robust markets and sustainable economic growth in the long term. Regulatory Reform Benefits the Economy and Society Regulatory reform brings with it very real, tangible benefits. It becomes easier to start up a new business, or for existing businesses to move into new areas.