National leader Simon Bridges unveils details of the party's 'regulation bonfire' plan

National has released the first part of its economic plan, including details of its strategy to "light a bonfire of regulations" by cutting unnecessary Government red-tape.

The plan includes a previously announced policy of repealing and replacing the Resource Management Act (RMA) and appointing a Minister for Regulatory Reduction.

National leader Simon Bridges this morning promised to get rid of 100 regulations in six months, if the party is elected to Government after September 19.

And he unveiled the first 29 of those 100 this morning.

These include removing the rules which dictate where a heater, supplied by a landlord, must be placed in a rented home as well as removing the requirement for KiwiSaver funds to be treated as "overseas persons".

"National wants businesses to thrive and not be strangled by red tape, regulation and bureaucracy," Bridges said.

National would also simplify Anti-Money Laundering legislation and introducing a Health and Safety common sense test.

"Unnecessary red tape and regulation is getting in the way of a stronger economy. It's holding us back from having more money in our pockets, lower daily costs and affordable housing."

Yesterday, Bridges told the Herald National wanted a "common sense" test run across all health and safety practices as part of the party's plan to cut red tape.

A major part of this plan, according to Bridges, was doing away with unnecessary regulations.

National Leader Simon Bridges this morning promised to get rid of 100 regulations in six months. Photo / Mark Mitchell

National will remove two for every one introduced, he said.

The party's finance spokesman Paul Goldsmith gave the example of the new reforms to the Residential Tenancy Act.

He said they reduce property rights of landlords, increase costs, discourage the supply of rental properties and increase rents for low-income households.

"That's not good for the landlord, or the tenant."

Meanwhile, National also promised to reform Anti-Money Laundering laws – which it introduced when it was in government in 2016.

"It was introduced so New Zealand was compliant with international obligations and to protect our interests against illegitimate money laundering," National's economic development spokesman Todd McClay said.

"The reality is the legislation has influenced how New Zealanders do business which has resulted in more costs."

To fix this, McClay said National would provide guidance to industry via a National Policy Statement.

"This means the law will be interpreted how it's meant to be, in a less costly manner."