RMA Replacement Phase 3 – The welcome focus on property rights
Last Friday the government made a heartening announcement that its phase 3 reforms to the Resource Management Act will make property rights a ‘guiding’ principle. The RMA has failed in good part because of two fundamental flaws from a property right perspective: first, it allowed all and sundry to object with impunity to a changed land use; second, it denied compensation for the lost value from a successful objection. Read more
