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Mr Speaker,

I have been surprised by some of the reaction I have had to my decision to retire. All sorts of motivations have been ascribed to my decision.

One of my cabinet colleagues – who is always concerned about how these sorts of things look for the Government – was keen to spread the rumour that the real reason could be traced to the existence of a series of incriminating photographs.

I was alarmed at the speed at which Murray McCully was able to invent such a scenario.

Thanks, Sir John, for those remarks.

Ladies and Gentlemen …

A woman from a small South Island town borrowed $250 from a payday lender over the internet.

The loan was for two weeks and with interest and fees she was due to pay back $375 from her loan of $250.

But she was not able to pay the full amount back within the two weeks.

Consumer Affairs Minister Simon Power today released research into third-tier lending ahead of the Government’s Financial Summit to be held in Auckland on Thursday. 

The main piece of research, undertaken by the Ministry of Consumer Affairs, identified 218 third-tier lenders (lenders who provide personal, non-mortgage loans, excluding banks, building societies, and credit unions) operating in New Zealand, and examined the advertising methods they used.

Key findings include that:

Consumer Affairs Minister Simon Power today announced the line-up of speakers and chairs for the Government’s Financial Summit to be held in Auckland next Thursday.

The summit will bring together 250 people from community groups, budgeting services, NGOs, banks, financial regulators, and credit companies to look at ways of tackling the problem of irresponsible lending.

Sir John Anderson will chair the Government's Financial Summit which will target unscrupulous credit companies, Consumer Affairs Minister Simon Power announced today.

The summit will bring together community groups, budgeting services, banks, and credit companies to look at ways of tackling the problem of irresponsible lending. It will be held in Auckland on August 11.

Mr Power said he was delighted Sir John Anderson had agreed to chair the summit.

The Government is to target unscrupulous credit companies that prey on unwary consumers, the Minister of Commerce and Consumers Affairs, Simon Power, announced today.

He told the Financial Literacy Summit in Wellington that he is organising a financial summit that will look at ways to tackle the problem.

"It's time to make changes in the area of consumer credit.

"There are gaps in the system that allow the unscrupulous to take advantage of the unwary when it comes to access to consumer finance in these tough economic times.

Minister of Consumer Affairs John Boscawen was today pleased to announce that the Consumer Law Reform Bill has been approved by Cabinet and will be tabled in Parliament for consideration when the House reconvenes early next month.

"ACT and National in Government are committed to ensuring that New Zealand consumer law is effective and workable.  The Consumer Law Reform Bill delivers on that commitment," Mr Boscawen said.

Minister of Consumer Affairs John Boscawen today launched Scam Awareness Week 2011 – a joint annual initiative run by the Ministry of Consumer Affairs, as part of an Australasian Consumer Fraud Taskforce (ACFT) campaign, and focused on raising awareness of scams in the community.

Yesterday was the deadline for financial advisers to join a free dispute resolution scheme, meaning that consumers and small businesses can get independent assistance if they have a dispute with a financial service provider, Minister of Consumer Affairs John Boscawen said today.

“This was the final stage of the implementation of the Financial Service Providers Dispute Resolution regime that began in December and covers banks, insurance companies, financial advisers, finance companies, brokers, money managers and KiwiSaver providers,” Mr Boscawen said.

Minister of Consumer Affairs John Boscawen today announced that a Consumer Law Reform Bill to strengthen consumers' rights and simplify business compliance will be introduced to Parliament later this year.

"The Consumer Law Reform Bill represents the most significant changes to consumer laws in more than two decades and brings much-needed clarity in an era of online shopping, extended warranties and self-checkouts," Mr Boscawen said

Hon John Boscawen speech to launch Consumer Rights Day; Pataka Museum of Arts and Cultures, Norrie Street, Porirua; Tuesday, November 30 2010.

Good morning ladies and gentlemen, it's great to be here.  I'd like to begin by extending a warm welcome to everyone who was made the effort to be here today - it's great to see how many agencies are represented here today to demonstrate what they can do for the community.

Hon John Boscawen speech to the Disputes Tribunal Referees Forum; The Holiday Inn, Featherston Street, Wellington; Friday, November 5 2010

Hon John Boscawen speech to the Citizens Advice Bureau New Zealand (CABNZ) National Forum; the Brentwood Hotel, Kemp Street, Kilbirnie, Wellington; Thursday, October 28 2010

Minister of Consumer Affairs John Boscawen was today pleased to announce that the new digital strategy of the Citizens Advice Bureau (CAB) meets all the Government's criteria for a single portal co

Minister of Consumer Affairs John Boscawen today announced that Financial Dispute Resolution, and the Banking Ombudsman Scheme, have been formally approved as financial service dispute resolution s

Hon John Boscawen speech to Member Forum for Electricity and Gas Complaints Commissioner Scheme DVD Launch; The Holiday Inn, Featherston Street, Wellington; Wednesday, August 25 2010.

Minister of Consumer Affairs John Boscawen today released the annual reports of Motor Vehicle Disputes Tribunal (MVDT) adjudicators Chris Cornwell and Nicola Wills for the period July 1 2009-June 3

Hon Heather Roy speech to the launch of ‘The ORB' (Online Reporting Button); New Zealand Police National HQ, Molesworth Street, Thorndon, Wellington; Thursday, August 5 2010.

Hon Heather Roy speech to the First Reading of the Credit Reforms (Responsible Lending) Bill; Parliament, Wellington; Wednesday, July 21 2010.

Minister of Consumer Affairs Heather Roy today released the 'Consumer Law Reform' discussion document - the result of work the Ministry of Consumer Affairs has undertaken over the past year to revi

Minister of Consumer Affairs Heather Roy today announced that Financial Services Complaints Limited (FSCL) and the Insurance & Savings Ombudsman (ISO) are the first financial sector consumer di

Hon Heather Roy address to the Australia and New Zealand Ombudsman Association (ANZOA) conference; the Holiday Inn, Featherston St, Wellington; Friday, May 7 2010.

New requirements for water efficiency labels will help consumers make informed choices about water consumption and relative water efficiency when purchasing washing machines, dishwashers, taps, toi

Minister of Consumer Affairs Heather Roy was today pleased to launch Complaintline - a new gateway website for disputes resolution and investigation agencies that provide the New Zealand public wit