REGULATORY STANDARDS: PRIVILEGING CAPITAL OVER PEOPLE

The Regulatory Standards Bill was passed last week by the coalition government, despite 98 percent of public submissions opposed to it. There are good reasons to oppose it. It is a corporate charter disguised as law, a measure that undermines democracy by privileging capital over people. Its passage, enabled by Winston Peters and New Zealand First, represents a betrayal of their supporters. And it's a deepening of the neoliberal project led by David Seymour and ACT, a political party supported by less than ten percent of the electorate.

THE REGULATORY Standards Bill has been rightly described as a 'corporate bill of rights'. It enshrines principles that elevate property rights above collective well-being, creating an expectation that corporations can demand compensation if public-interest laws—such as those protecting drinking water, wildlife, or housing standards—affect their profits. This is not democracy; it is rule by capital. The overwhelming public opposition to the bill, with 98% of submissions rejecting it, underscores its undemocratic nature. Yet the government, under pressure from ACT leader David Seymour, forced it through, showing contempt for the people it claims to represent.  

David Seymour has long championed this agenda. His rhetoric of 'transparency' and 'accountability' masks a project designed to entrench the dominance of capital. Dr Bryce Edwards of The Integrity Institute has observed that ACT has drifted from its 'libertarian' principles into cynicism:

'The party that once quoted Milton Friedman on the evils of state-sponsored monopoly now acts as a quiet accomplice to New Zealand’s most powerful cartels.'

By requiring lawmakers to justify any deviation from principles like property rights, the Regulatory Standards legislation effectively shackles Parliament to a corporate veto. It is a constitutional backdoor, rewriting the rules of governance to favour capital while undermining the ability of future governments to legislate for workers, Maori, and the environment. This is not about transparency—it is about locking in neoliberal orthodoxy and stripping away the democratic capacity to challenge it.  

The betrayal of Winston Peters and New Zealand First is particularly stark. Peters has built his career on claiming to defend ordinary New Zealanders against elites and foreign interests. Yet by voting for this bill, NZ First has handed victory to ACT and multinational corporations. Peters’ supporters, many of whom are working-class, rural, and Maori, will find themselves abandoned. Instead of defending sovereignty and fairness, NZ First has aligned itself with a project that sells New Zealand out to capital. This is not a minor compromise; it is a fundamental betrayal of the party’s supposed mission.  

The wider agenda is clear. The Regulatory Standards legislation is part of a systematic effort by ACT and its allies to entrench neoliberalism at the constitutional level. It is not enough for them to dominate policy debates; they seek to rewrite the rules so that any future government is constrained from pursuing redistributive or protective measures. This is why Seymour pushed so hard for the bill, and why National and NZ First capitulated. It is about ensuring that workers cannot win stronger protections, Maori cannot advance Treaty-based claims that challenge property rights, and communities cannot demand environmental safeguards that inconvenience capital.  

The bill’s passage reveals the hollowness of New Zealand’s  so-called 'representative democracy'. When less than one percent of submissions supported the bill, yet Parliament passed it anyway, we see the triumph of corporate lobbying over public will. This is not democracy—it is oligarchy. The government has shown that it will ignore mass opposition when it conflicts with the interests of capital. Seymour’s ideological project has succeeded not because it has popular support, but because it has elite backing.  

For workers, Maori, and all those who rely on collective protections, the consequences are dire. Laws requiring landlords to heat homes, regulations safeguarding food safety, or measures protecting rivers could all be undermined. The bill tilts the playing field decisively toward corporations, making it harder for communities to defend themselves. It is a reminder that neoliberalism is not just an economic policy—it is a constitutional project, designed to lock in the supremacy of capital.  

Winston Peters and NZ First had a choice. They could have stood with their supporters, resisting Seymour’s corporate agenda. Instead, they chose betrayal. By siding with ACT, they have undermined their own legacy and exposed the emptiness of their populist rhetoric. The Regulatory Standards Bill will be remembered not only as a dangerous piece of legislation, but as a moment when NZ First abandoned its base to serve capital.  

In the end, the bill is a warning. Democracy in New Zealand is being further hollowed out, reshaped to serve corporate interests. Seymour and ACT are leading the charge, but they are enabled by partners like Peters, who claim to defend the people while selling them out. The struggle now is to expose this agenda, to resist its entrenchment, and to build a movement that restores democracy by putting workers, Maori, and communities ahead of capital.