The Government is planning to increase fines for breaching the Fair Trading Act - from 600-thousand dollars to five-million.

It is announcing a swathe of changes to crack down on businesses and individuals breaking consumer laws. 

The cases could also be moved from the criminal court to the Civil Court to make prosecution easier. 

Consumer NZ Chief Executive Jon Duffy told Mike Hosking that it is one of the most consequential changes to the act in a generation. 

He says it will be a deterrent for many companies - but $5million is a drop-in-the-bucket for large multi-nationals. 

LISTEN ABOVE

The Government is planning to increase fines for breaching the Fair Trading Act - from 600-thousand dollars to five-million.
It is announcing a swathe of changes to crack down on businesses and individuals breaking consumer laws.&nbsp;
The cases could also be moved from the criminal court to the Civil Court to make prosecution easier.&nbsp;
Consumer NZ Chief Executive Jon Duffy told Mike Hosking that it is one of the most consequential changes to the act in a generation.&nbsp;
He says it will be a deterrent for many companies - but $5million is a drop-in-the-bucket for large multi-nationals.&nbsp;
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

Best of Business

John Duffy: Consumer NZ Chief Executive comments on increased fines for breaching the Fair Trading Act

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/0c9a713a-a797-43df-9f5b-b397013593d0/transcript