Rt Hon John Key
Prime Minister &
Leader of the National Party

6 November 2011
Media Statement

Commerce policy encourages investment

Prime Minister and National Party Leader John Key today released National’s commerce policy, which is designed to further improve investor and consumer confidence to help businesses grow and create jobs.

"National has worked hard to clean up the mess we inherited in financial markets. In the next three years we will further reform securities law to restore investor confidence in financial markets by passing the Financial Markets Conduct Bill. This will give greater clarity and confidence to investors and encourage more investment in capital markets.

"We will also criminalise anti-competitive behaviour by passing the Commerce (Cartels and Other Matters) Amendment Bill, and we will tighten the rules for company directors and company registration, and require all New Zealand companies to have either one resident director or a local agent.

"We will also target loan sharks and protect unwary consumers by introducing and passing tougher consumer credit laws.

"Current gaps in the law governing consumer finance allow unscrupulous lenders to take advantage of vulnerable customers, and that has to stop.

“National will also continue to work to increase the knowledge and skills of potential investors by working with the public and private sectors to identify further steps to improve investor literacy and public understanding of incurring debt."

Mr Key says over the past three years National made big strides in improving confidence in capital markets and encouraging people to move towards investments that provide capital for businesses to grow, create jobs and build a stronger economy.

"We established the one-stop-shop Financial Markets Authority with a sharper focus on enforcing the law, tightened oversight of those working in the financial markets, and removed barriers to trans-Tasman business.

"But we know that more must be done and, if re-elected, we will maintain our focus on building the investor confidence and investment that is vital to the well-being of our economy."

Visit National's Commerce policy at: http://national.org.nz/PDF_General/Commerce_policy.pdf

ENDS

© Scoop Media