We present a first-principles implementation of {\em spatial} scale invariance as a local gauge symmetry in geometry dynamics using the method of best matching. In addition to the 3-metric, the proposed scale invariant theory also contains a 3-vector potential A_k as a dynamical variable. Although some of the mathematics is similar to Weyl's ingenious, but physically questionable, theory, the equations of motion of this new theory are second order in time-derivatives. It is tempting to try to interpret the vector potential A_k as the electromagnetic field. We exhibit four independent reasons for not giving into this temptation. A more likely possibility is that it can play the role of ``dark matter''. Indeed, as noted in scale invariance seems to play a role in the MOND phenomenology. Spatial boundary conditions are derived from the free-endpoint variation method and a preliminary analysis of the constraints and their propagation in the Hamiltonian formulation is presented.
In the first half of this talk I will review the basic idea of the power-counting renormalizable theory of gravitation recently proposed by Horava. In the second half I will talk about some cosmological implications of the theory. In particular, I will show that the anisotropic scaling with a dynamical critical exponent z=3 leads to generation of scale-invariant cosmological perturbations and that the absence of local Hamiltonian constraint leads to a component similar to cold dark matter as integration ""constant""."