Presentation: Dan Andrews, OECD
Followed by a discussion with:
Klaus Günter Deutsch, Federation of German Industries, Berlin@Business at OECD
Nicola Fuchs-Schündeln, WZB Berlin Social Science Center
Zach Meyers, Centre on Regulation in Europe (CERRE)
Aidan Sweeney, Ibec for Irish Business & Business at OECD
Moderated by: Nicola Brandt, OECD
Good regulation is key to correcting market failures, safeguarding health and safety and the environment. At the same time, business organisations across the OECD view regulatory requirements and compliance costs as one of the key challenges for firms, ahead of skills shortages, taxation or geopolitical instability. A new OECD study confirms that the resource cost for compliance is high and rising, particularly in Europe, where it absorbs twice as much labour as R&D. The study also shows that this has a role in slowing productivity growth and business dynamism. The panel discusses how regulatory reform can reduce compliance costs, while making sure that regulation reaches its goals effectively and efficiently. Panellists review where there is the greatest potential for simplification and more coherent regulation; and they discuss what a smarter use of digitalisation and artificial intelligence can achieve to make it easier for firms to comply with rules and regulations, thus paving the way for stronger productivity growth and business dynamism.
This is a Friends of OECD event.
