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Dairy Farmers' Vote Result

The Government will introduce the Dairy Industry Restructuring Bill tomorrow, subject to formal clearance by the Labour and Alliance caucuses, Agriculture Minister Jim Sutton said today.

The bill would be debated and referred to select committee next week.

Mr Sutton said the bill was in two parts: the first implementing the merger of Kiwi Dairy Co-operative, New Zealand Dairy Group, and the New Zealand Dairy Board to form Global Dairy Company; and the second introducing a regulatory package to mitigate any adverse effects of having such a large company.

"This fulfils the Government's criteria for any producer board reform: it must be supported by a majority of industry participants, it must be fair to minority interests, and it must be in the public interest."

Mr Sutton said when the bill was received by the select committee, submissions would be called for so that everyone could have a say.

"The dairy industry is New Zealand's largest export industry, and is responsible for one of every five export dollars we earn as a country. Changes in the dairy industry affect everyone."

ENDS

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