Governments typically regulate people, places and/or products in order to address market failures where the benefits of doing so outweigh the costs. Digital technologies are rapidly changing markets and costs and are putting many existing regulatory regimes under pressure. The development and diffusion of digital technologies is arguably advancing at a faster pace than regulators can manage.
Many regulators are playing catch up in a digital world, and this can create an uneven playing field that either incumbents, or less often, new entrants can benefit from. Regulators can focus more on how the innovative activity or new technology can be integrated into the existing regulatory framework rather than taking a step back and asking whether the innovation bears on the rationale for regulation in the first place. And it is always worth questioning whether regulation gets in the way of innovation, or whether digital technology offers ways to lower the costs of compliance.
This is not to say that the digital economy (and digital platforms) will do away with regulation. Rather, it will change how we regulate, what we regulate and how we enforce regulation. And sometimes profoundly. In this new environment it is important to ask and ensure that regulation remains fit for purpose.
We have a experience and capability to work with you to review and redesign a regulatory systems and the institutions than deliver it.
We have undertaken a range of reviews of regulatory systems and how they can adapt to the changing external environment, as well as more specific analyses of individual areas of regulation or regulatory instruments.
Team experience includes:
National Heavy Vehicle Regulator – Review of the efficiency and effectiveness of heavy vehicle regulation - benchmarked the efficiency and effectiveness of heavy vehicle regulatory services by State and Territory jurisdictions. Identified the efficient price of regulatory services, and helped to achieve significant improvements in the cost-effectiveness of national regulation.
Consumer Affairs Victoria – Better Business Regulation. The objective of the Better Business Regulation project was to improve the way regulators operate by developing a tool (the BBR Framework) that assists in evaluating performance, identifying opportunities for improvement and developing measures to monitor performance over time.
Department of Treasury and Finance (Vic) – exploring the feasibility of allowing businesses to conduct low-risk business activities automatically without the need for a local council or Victorian Government permit
The Department of Treasury and Finance (Vic) – engaged atticusnow to provide support to the City of Casey Council to pilot the 'as of right' model provisions that were established in an earlier Fast Track Review.