Finance Minister Nicola Willis. Photo: Marika Khabazi
Business leaders vehemently opposed to changes to the Fair Trading Act now say they are feeling happier after a meeting with the Finance Minister Nicola Willis.
In a letter to the minister, business heads warned against the changes, including increased penalties for breaches of the act.
Business NZ spokesperson Catherine Beard said the meeting with both Willis and Commerce Minister Scott Simpson on Monday was positive and constructive.
"We feel more assured that whatever comes out will be more manageable and reasonable, and obviously businesses will be able to have their views heard through a select committee process."
Business NZ spokesperson Catherine Beard. Photo: Supplied / Business NZ
Beard said another proposed change to the Fair Trading Act - released in a discussion document - would be to remove offences from the criminal jurisdiction and place them under civil jurisdiction - where there was a lower burden of proof.
She said business leaders had been concerned about the targeted consultation for the changes, which they did not consider transparent enough.
She said that concern has been eased with assurances any changes will come with wider consultation and scrutiny.
"In due course, if they decide to proceed with changes they will come out in a more normal, wider consultation process, that has a select committee process attached to it, and gives everyone the opportunity for input."
She said she expected some of the broad ideas raised in the discussion document would be modified with a narrower, more limited focus.
"Since they got our feedback, both Business NZ but [also] other industry groups, they've definitely taken on board the concerns we raised and I think they've modified their ideas - so the message to us is we have been heard."
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