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


Cost Recovery Reforms Pave Way For Brighter Future

Cost Recovery Reforms Pave The Way For A Brighter Future For Fishing Industry

The New Zealand Seafood Industry council welcomed the new cost recovery package which was supported by Cabinet today.

Council chairman Dave Sharp said the cost recovery regime had proved to be one of the most vexatious pieces of legislation the industry had ever dealt with.

Earlier this year the government appointed a working part made of up industry Ministry of Fisheries representatives and Treasury officials to formulate a package to restore some elements of fairness to the cost recovery legislation.

“The industry is heartened that this joint working party has achieved a workable and durable solution and is delighted the government has supported the findings.” Mr Sharp said.

The industry has repeatedly called for the legislation to be overhauled since 1994. Two major inquiries and a number of independent reports found in the industry’s favour.

Mr Sharp said the seafood industry led the way in establishing cost recovery for all industries and was committed to the principle of less government interference in business.

“Although the road to that goal has been rocky it now looks like we have a platform on which we can build a better industry.”

“It should also be noted that the working group concept has proved its worth and Government would be well advised to apply this mechanism to other controversial issues such as the Fourth Schedule compensation,” he said.

Mr Sharp said smaller operators, who had been hit particularly hard by the initial cost recovery package, would find the new measures would offer some financial relief.

“Many small operators were forced out of the industry because of an inefficient bureaucracy – it is now hoped we can all move forward to create more prosperity for both the industry and the country.”

© Scoop Media

Business Headlines | Sci-Tech Headlines


Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>