Articles tagged with Commerce
New Independent Officer to Ensure Competitive Urban Land Markets in NZ Planning System
5 days ago | 137 viewsThe government will establish an independent Urban Land Market Officer to monitor, assess, and ensure councils maintain competitive urban land markets by preventing artificial scarcity and enabling sufficient land supply for housing and business development. This role aims to address housing affordability and economic growth by holding councils accountable for zoning enough land and facilitating reforms such as abolishing rural-urban boundaries, setting housing growth targets, and easing private plan changes. The Officer’s independent scrutiny will promote transparency and enforce action where local planning decisions hinder land market competitiveness, supporting the government’s broader agenda to reform the planning system and boost housing supply.
Tags: Chris Bishop Simon Court Urban Land Market Officer Resource Management Act Planning Bill Housing Growth Targets National Policy Direction Ministry for Cities Environment Regions and Transport Planning Tribunal Commerce CommissionNew Zealand Targets Electricity Network Reforms to Lower Power Bills and Boost Efficiency
5 days ago | 126 viewsNew Zealand’s rising electricity bills are largely driven by electricity distribution network costs, prompting the government to seek reforms for greater affordability, reliability, and efficiency in the sector. The Ministry of Business, Innovation and Employment (MBIE) has released a discussion document proposing actions to enhance collaboration among Electricity Distribution Businesses (EDBs), improve economic regulation, and strengthen governance to support increased electrification and innovation. The government is inviting public feedback on these potential reforms to ensure investments deliver value for consumers and help moderate future power costs.
Tags: Simeon Brown Cameron Brewer Electricity Distribution Businesses Commerce Commission MBIE New Zealand Energy Minister Commerce and Consumer Affairs Minister Frontier Review Energy PackageGovernment Funds Additional Growth Advisor to Support Hawke's Bay Businesses Through 2027
6 days ago | 142 viewsThe Government is funding an additional Growth Advisor at the Hawke's Bay Chamber of Commerce through June 2027 to provide hands-on support for local business owners recovering from Cyclone Gabrielle. This advisor will offer practical guidance on planning, growth opportunities, and decision-making, helping businesses navigate ongoing challenges and access regional resources. The initiative aims to strengthen Hawke's Bay's productive economy by ensuring small businesses receive timely, local expertise to rebuild and succeed.
Tags: Cameron Brewer Karla Lee Katie Nimon Catherine Wedd Hawke's Bay Cyclone Gabrielle Growth Advisor Regional Business Partner Network Small Business Hawke's Bay Chamber of CommerceGovernment Seeks Feedback on Capital Market Reforms to Boost Kiwi Business Growth
1 month ago | 296 viewsThe Government is seeking feedback on the next phase of capital market reforms aimed at lowering the cost of raising capital for Kiwi businesses and improving returns for investors, with a focus on modernizing rules to keep pace with innovation and maintain investor protections. This phase follows last year’s reforms that reduced compliance costs and barriers to listing on the NZX, and now targets eight specific areas including product disclosure, director liability, crowdfunding limits, and broker activity. The consultation, open for six weeks, invites input from businesses, investors, and financial advisers to help create dynamic, competitive markets that support economic growth.
Tags: Cameron Brewer Commerce and Consumer Affairs Minister KiwiSaver MBIE NZX New Zealand Government capital market reforms economic growth crowdfundingNew Zealand Mandates Safety Standards for Corded Blinds to Protect Children
1 month ago | 454 viewsThe New Zealand Government is making it mandatory for new corded blinds to meet internationally recognised safety standards to protect young children from cord entanglement hazards. This move follows multiple child fatalities and coroner recommendations, aiming to reduce risks through shorter cords, warning labels, and safety devices, while minimizing costs for compliant businesses. Parents are also urged to raise awareness and take precautions with existing blinds to ensure home safety.
Tags: Cameron Brewer New Zealand corded blinds child safety Commerce and Consumer Affairs safety standards MBIE window coverings product safety coronersGovernment Removes Health and Life Insurers from Climate Reporting to Cut Costs
2 months ago | 459 viewsThe Government is removing health and life insurers from the mandatory climate reporting regime, as these insurers are not directly exposed to climate risks and reporting adds unnecessary costs to their clients. This change follows previous adjustments raising the reporting threshold and excluding certain schemes, reducing the number of businesses required to report from 164 to around 67. The focus remains on ensuring large businesses with significant impact continue reporting, while cutting red tape for firms where reporting is less relevant.
Tags: Cameron Brewer Government Commerce and Consumer Affairs climate reporting health insurers life insurers NZX business growth market capitalisation red tapeNew Anti-Scam Measures Protect Kiwis and Businesses from Online Fraud
2 months ago | 566 viewsThe Anti-Scam Alliance in New Zealand has launched new initiatives, including expanding the banking sector's "Confirmation of Payee" system and introducing the New Zealand Online Scams Code, to better protect people and businesses from scammers. This collaborative effort involves telcos, digital platforms, banks, government, and consumer groups working together to block scam content and prevent fraud, building on successful pilot programs that saved millions in losses. These measures complement legal changes and aim to create a safer online environment, giving New Zealanders greater confidence to engage in digital transactions without fear.
Tags: Cameron Brewer New Zealand Commerce and Consumer Affairs Confirmation of Payee Google Meta TikTok Trade Me Fair Trading ActCommerce Commission Proposes Cut to Company Card Fees Saving NZ Businesses $40M Annually
2 months ago | 526 viewsThe Commerce Commission has proposed reducing the fees businesses pay to accept company cards, potentially saving retailers around $40 million annually and contributing to a total expected saving of up to $290 million per year for businesses. Commerce Minister Cameron Brewer highlighted that current interchange fees in New Zealand are nearly double those in Australia and unfairly burden businesses, which often pass these costs onto consumers through higher prices. The draft decision is open for consultation, with a final ruling expected later this year, aiming to ensure fairer payment processing costs and benefits for both businesses and consumers.
Tags: Commerce Commission Cameron Brewer retailers interchange fees company cards businesses consumers New Zealand Government banksBudget 2026 Introduces Prudential Levy on NZ Banks and Financial Firms
2 months ago | 592 viewsBudget 2026 introduces a new prudential levy on banks, non-bank deposit takers, insurers, and financial market participants to cover Reserve Bank regulatory costs, aligning with international practices and ensuring taxpayers do not bear these expenses. The levy, expected to raise around $209 million over four years, will be paid to the Reserve Bank and returned to the government via increased dividends, with implementation planned for mid-2027 after consultation. This measure aims to strengthen New Zealand’s financial system by funding supervision, licensing, monitoring, and crisis management of regulated entities, including 27 banks, 14 non-bank deposit takers, 81 insurers, and five financial market infrastructures.
Tags: Budget 2026 prudential levy Reserve Bank Nicola Willis Financial Markets Authority Commerce Commission New Zealand banks insurers financial market participants financial regulationBudget 2026: New Prudential Levy on NZ Banks and Financial Market Players
2 months ago | 586 viewsBudget 2026 introduces a new prudential levy on banks, non-bank deposit takers, insurers, and financial market participants to fund the Reserve Bank’s regulatory and supervisory services, ensuring these costs are borne by the industry rather than taxpayers. The levy, estimated to raise around $209 million over four years, aligns with international practices and will be implemented by mid-2027 after sector consultation. It targets a broad range of financial entities, including 27 banks, 14 non-bank deposit takers, 81 insurers, and five financial market infrastructures, supporting the Reserve Bank’s role in maintaining financial stability.
Tags: Budget 2026 prudential levy Reserve Bank Nicola Willis Financial Markets Authority Commerce Commission New Zealand banks insurers financial market infrastructure financial regulationNew Zealand Launches Free Business Resilience Training for Small Enterprises
3 months ago | 534 viewsThe New Zealand government has launched a fully funded training initiative through the Regional Business Partner Network to help small and medium enterprises improve business resilience, continuity planning, and preparedness for disruption. This program, available nationwide from May to August via workshops, webinars, and online content, aims to equip businesses with practical tools to manage change and strengthen performance without cost barriers. The initiative complements existing support and emphasizes the importance of resilience in ensuring long-term business success amid uncertainty.
Tags: Cameron Brewer Small Business Regional Business Partner Network Business Continuity Resilience Training New Zealand Chamber of Commerce Business Continuity & Resilience Awareness Week Small and Medium Enterprises Business ResilienceNew Review Launched on Dairy Industry Restructuring Act to Assess Fonterra Rules
3 months ago | 637 viewsThe Ministry for Primary Industries has released the terms of reference for a mandatory review of the Dairy Industry Restructuring Act (DIRA) to evaluate whether its competition provisions regulating Fonterra remain necessary and effective. The review will consider if these provisions should be retained, repealed, or amended, with findings due to Parliament by June 1, 2027, and will include two rounds of stakeholder consultation. DIRA was originally established to support Fonterra’s creation and regulate its market activities beyond general competition laws to ensure efficient dairy market operations in New Zealand.
Tags: Ministry for Primary Industries MPI Dairy Industry Restructuring Act DIRA Agriculture Minister Todd McClay Fonterra dairy sector New Zealand Commerce Act 1986Michelle Findlater Appointed to Tertiary Education Commission Board for 2026
3 months ago | 689 viewsTertiary Education Minister Penny Simmonds has appointed Michelle Findlater to the Board of the Tertiary Education Commission (TEC) for a three-year term starting May 2026. Michelle, with extensive experience in the automotive industry and work-based training, has been recognized for her contributions and potential, including receiving the Janet Lane Scholarship from MITO. Her expertise is expected to support the TEC’s focus on enhancing access, participation, and achievement in tertiary education to build the workforce New Zealand needs.
Tags: Penny Simmonds Michelle Findlater Bharat Guha Tertiary Education Commission MITO Janet Lane Scholarship Harvard University Southland Chamber of Commerce Tertiary Education Minister automotive industryFMA Chair Craig Stobo Resigns After Independent Review into Conduct
3 months ago | 723 viewsCommerce and Consumer Affairs Minister Cameron Brewer has accepted the resignation of Financial Markets Authority (FMA) Chair Craig Stobo following an independent review that found no evidence of inappropriate relationships but noted lapses in political neutrality and delayed governance disclosures. The review emphasized the importance of maintaining confidence in the FMA’s independence and integrity as it continues its regulatory role in New Zealand’s financial markets. Steven Bardy will serve as Acting Chair while a permanent replacement is sought, with the government reaffirming its commitment to a strong and independent financial markets regulator.
Tags: Cameron Brewer Craig Stobo Wendy Aldred Steven Bardy Financial Markets Authority FMA New Zealand Commerce and Consumer Affairs financial markets regulator independent reviewNew Governance Model to Strengthen New Zealand's Commerce Commission by 2027
5 months ago | 1013 viewsNew Zealand is reforming its Commerce Commission to improve competition regulation by separating governance and regulatory functions, following an independent review that found the current structure ineffective. The new governance model, effective from July 2027, introduces an oversight board with external directors and a panel of expert commissioners to enhance decision-making and market competitiveness. Current leadership will provide continuity during the transition, with the Commerce (Commerce Commission Reform) Amendment Bill now under consideration by the Finance and Expenditure Committee.
Tags: Scott Simpson Dame Paula Rebstock Dr John Small Anne Callinan Commerce Commission Commerce Commission Reform Bill New Zealand Commerce and Consumer Affairs Finance and Expenditure Committee regulatory reform