Kharon, the Minister went out of his way to deny that the regulator had any duty of care whatsoever to those regulated.
Until such time as the regulator is required to take into account the likely effect of its actions on the economic health of the industry it regulates, then the option remains open to it to fulfil its role by prohibiting aviation - the "safe skies are empty skies" option, as is currently being used on Jabiru.
There is no suggestion whatsoever that the iron heel is going to be taken off our necks. My guess is that the full weight of the unmodified European Union over regulation is going to be used to crush the life out of us.