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Associate Commerce Minister Craig Foss today congratulated International Accreditation New Zealand (IANZ) on winning a Business Achievement Award from the New Zealand Business Excellence Foundation.

“I am pleased that this Crown entity has been recognised as a top performer.  It stands out – not just in its field, but right across the public and private sectors.  The state sector should be aiming for top marks for its work, and this shows just what can be achieved,” said Mr Foss.

It’s my pleasure to be here today.

I want to start by taking you back to the situation the Government found itself in when it first came into office in November 2008.

At that time we were all hearing stories of people who had, on the advice of financial advisers, diversified their life savings into a variety of finance companies.

And we all know how those stories ended.

When finance companies began to fall like dominos in 2006 and onwards, some $8.6 billion of investors’ money was put at risk.