Press Release

Choice & Confidence Best For Consumers

Hon Heather Roy

Thursday, December 4 2008

Minister of Consumer Affairs Hon Heather Roy today released the Briefing for the Incoming Minister (BIM), prepared by the Ministry of Consumer Affairs and noted that the portfolio faces many challenges - but also significant opportunities.

"The BIM outlines the fact that much of the current work under Vote Consumer Affairs is focussed on promoting consumer confidence and trust in both the financial sector and product safety," Minister Roy said.

"Following the passage of legislation by the previous Government, the new dispute resolution regime for financial service providers will be implemented.

"Increasingly, the Trans-Tasman markets are merging and the Australian Government is currently pushing strongly to rationalize its key consumer and credit laws across all States and Territories.

"I look forward to exploring future opportunities arising for New Zealand out of the Rudd Government initiatives and areas where co-operation might occur.

"We must ensure that New Zealand's consumer product safety regime is appropriate and strikes the proper balance between active consumer choice, confidence and - where necessary - protection. This will be a guiding principle in my decision making and policy development.

"High levels of consumer confidence in product safety frameworks enhance public support for open borders, free trade and innovation. This is beneficial to individual consumers and also the New Zealand economy," Minister Roy said.

The full briefing is available at: http://www.beehive.govt.nz/sites/all/files/Consumer_affairs_BIM.pdf

ENDS

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