Articles tagged with Commerce Commission
Kiwibank Empowered to Challenge Big Four Aussie Banks with $500M Capital Boost
14 hours ago | 60 viewsKiwibank has been authorized to enhance its competition with the dominant Australian-owned banks in New Zealand's banking sector by raising up to $500 million in capital for growth. This move is aimed at enabling Kiwibank to better compete with the big four Australian banks while preserving its New Zealand identity. The government has approved measures to ensure Kiwibank's New Zealand identity, including maintaining majority government ownership and requiring key operational aspects to remain in New Zealand.
Tags: Kiwibank Nicola Willis Finance Minister Commerce Commission New Zealand Kiwi Group Capital Māori institutions New Zealand KiwiSaver funds stock marketNew Zealand Bans Surcharges to Save Millions: Commerce Minister's Decision
2 days ago | 196 viewsCommerce and Consumer Affairs Minister Scott Simpson announced the axing of surcharges to benefit New Zealanders financially. The move aims to eliminate the hassle and unexpected costs shoppers face at the checkout. By banning surcharges for in-store payments by May 2026, consumers can shop confidently without being penalized for their payment method choice.
Tags: surcharges money Kiwis Commerce and Consumer Affairs Minister Scott Simpson New Zealanders ban payments fees Commerce CommissionSelwyn District Leads the Way in Water Services Reform with Launch of Selwyn Water
3 weeks ago | 246 viewsSelwyn District is the first council in the country to launch its new water services entity, Selwyn Water, meaning safe, reliable, and affordable drinking water and wastewater for ratepayers, Local Government Minister Simon Watts says. “The launch of Selwyn District’s water service entity today marks a significant milestone of water reform, and I look forward to seeing similar Local Water Done Well plans progress in the coming months,” Mr Watts says. “Selwyn District Council is also the first council to have a Water Services Delivery Plan accepted and approved by the Secretary for Local Government, Paul James and the first to establish a water services council-controlled organisation (CCO) under the Coalition Government’s Local Water Done Well policy.
Tags: Selwyn District Simon Watts Local Government Minister Paul James Selwyn Water Water Services Delivery Plan Commerce Commission Department of Internal Affairs Sam Broughton Local Water Done WellMinister Calls for Supermarkets to Ensure Fair Pricing Practices for Kiwi Shoppers
1 month ago | 430 viewsEconomic Growth Minister Nicola Willis has written to the major supermarkets to restate the basic expectation that they take all steps needed to comply with the Fair Trading Act and ensure Kiwi shoppers are not subjected to misleading price claims. “Supermarkets have statutory obligations under the Fair Trading Act to ensure that pricing information is accurate and does not mislead consumers. “I am disappointed that I have to spell out to some of New Zealand’s biggest and most sophisticated retail operators - Foodstuffs North Island, Foodstuffs South Island, and Woolworths - that they should have in place processes to prevent inaccurate pricing, institute and publicise refund policies, and train staff to ensure that when errors are reported, fixes occur system-wide.
Tags: Australia Commerce commision Commerce commission and consumer new zealand Fair trading act Foodstuffs north island Foodstuffs south island New zealand Nicola willis Paknsave Woolworths Zealand