Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Risk to NZ businesses from controversial use of privilege

Media release
20 February 2014

Risk to NZ businesses from controversial use of privilege


BusinessNZ is expressing concern at the implications for all business as a result of continued allegations against Countdown supermarkets made in Parliament by Labour MP Shane Jones.

BusinessNZ Chief Executive Phil O’Reilly says Parliamentary privilege is a valuable institution but has the potential to damage related or innocent parties, and should be used judiciously.

“Where allegations are made under Parliamentary privilege in a controversial manner over the course of many days before being referred to the relevant authorities, there is the potential for significant reputational and commercial risk.

“In the current case, the matter was referred to the Commerce Commission 9 days ago but allegations have continued in Parliament over several days since this time.

“The risk is compounded by the fact that some of the allegations relate to alleged criminal behaviour and others relate to competition issues.

“The release under Parliamentary privilege of Mr Jones’ complaint to the Commerce Commission relates to the competition issues raised by Mr Jones, and an inquiry has now been launched.

“However, other allegations by Mr Jones relate to criminal behaviour including alleged blackmail and fraud, and no claims have yet been made to the NZ Police.

“This puts the subject of the allegations in the position of being tried in what is effectively a kangaroo court – with serious allegations made but not justified with evidence in a proper judicial process.

“This poses risk not only for the company that is the target of the current allegations, but for any other company that may be treated similarly in the future.

“Businesses in New Zealand would be concerned about the chilling effect of Parliamentary privilege being used in this way in the future.”


ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Interest Rates: Wheeler Hikes OCR To 3% On Inflationary Pressures, Eyes Kiwi

Reserve Bank governor Graeme Wheeler lifted the official cash rate for the second time in as many months, saying non-tradable inflationary pressures were "becoming apparent" in an economy that’s picking up pace and he's watching the impact of a strong kiwi dollar on import prices. More>>

ALSO:

Scoop Business: Equity Crowd Funding Carries Risks, High Failure Rate

Equity crowd funding, which became legal in New Zealand this month, comes with a high risk of failure based on figures showing existing forays into social capital have a success rate of less than 50 percent, one new entrant says. More>>

ALSO:

Scoop Business: NZ Migration Rises To 11-Year High In March

The country gained a seasonally adjusted 3,800 net new migrants in March, the most since February 2003, said Statistics New Zealand. A net 400 people left for Australia in March, down from 600 in February, according to seasonally adjusted figures. More>>

ALSO:

Hugh Pavletich: New Zealand’s Bubble Economy Is Vulnerable

The recent Forbes e-edition article by Jesse Colombo assesses the New Zealand economy “ 12 Reasons Why New Zealand's Economic Bubble Will End In Disaster ”, seems to have created quite a stir, creating extensive media coverage in New Zealand. More>>

ALSO:

Thursday Market Close: Genesis Debut Sparks Energy Rally

New Zealand stock rose after shares in the partially privatised Genesis Energy soared as much as 18 percent in its debut listing on the NZX, buoying other listed energy companies in the process. Meridian Energy, MightyRiverPower, Contact Energy and TrustPower paced gains. More>>

ALSO:

Power Outages, Roads Close: Easter Storm Moving Down Country

The NZ Transport Agency says storm conditions at the start of the Easter break are making driving hazardous in Auckland and Northland and it advises people extreme care is needed on the regions’ state highways and roads... More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news