OECD Regulatory Policy Outlook 2018

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Laws and regulations govern the everyday life of businesses and citizens, and are important tools of public policy. Regulating has never been easy, but the overwhelming pace of technological change and unprecedented interconnectedness of economies has made it a daunting task. The 2018 Regulatory Policy Outlook, the second in the series, maps country efforts to improve regulatory quality in line with the 2012 OECD Recommendation on Regulatory Policy and Governance, and shares good regulatory practices. It provides unique insights into the organisation and institutional settings in countries for designing, enforcing and revising regulations. It also highlights areas of the regulatory cycle that receive too little attention from policy makers. Finally, it identifies areas where countries can invest to improve the quality of laws and regulations and presents innovative approaches to better regulation.

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There is no single document comprehensively articulating regulatory policy in Latvia. However, many particular elements of regulatory policy are firmly embedded in strategic documents of the government. The obligation to conduct regulatory impact assessment (RIA) was introduced in 2009. RIA is required for all draft legal acts including subordinate regulations submitted to the Cabinet. RIA should be prepared early in the policy-making process and undergoes public consultation with the draft law. The impacts assessed cover mostly financial, budgetary, and administrative costs. Quantification of impacts tends to be rare. There is a structured and systematic process for consulting with social and civil partners. Reviews of regulatory stock are mostly business-oriented. While there is no explicit programme on ex post reviews of regulation, the regulatory framework is being improved continuously through intensive co-operation with stakeholders.

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