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The Government is working on how New Zealand’s retirement income policies and settings can best support Kiwis in light of the COVID-19 economic recovery, with the help of the Retirement Commissioner’s latest review, Commerce and Consumer Affairs Minister Kris Faafoi said.

New Zealanders who have money locked up offshore due to cancelled travel plans as a result of COVID-19 will benefit from a new Government scheme to support the recovery of refunds and credits from overseas travels suppliers.

Additional funding is being made available to strengthen existing debt solution services with access to debt specialists, and develop a national approach to address problem debt Minister for Social Development Carmel Sepuloni and Minister for Commerce and Consumer Affairs Hon Kris Faafoi announced today.

The Minister of Commerce and Consumer Affairs, Kris Faafoi, has signalled an end is in sight for high-cost lenders and truck shops who trap vulnerable people in debt.

The Commerce and Consumer Affairs Minister and Broadcasting, Communications and Digital Media Minister, Kris Faafoi, has today announced the appointment of Tristan Gilbertson as the new Telecommunications Commissioner and member of the Commerce Commission.

Government Ministers are asking significant private enterprises to adopt prompt payment practices in line with the state sector, as a way to improve cashflow for small businesses.

“This Budget is about creating jobs. We know how businesses and workers have been impacted by this global pandemic. This Government is backing businesses to regain the confidence to invest as we work together to grow the economy in the face of this global recession,” Finance Minister Grant Robertson said.

The Minister of Commerce and Consumer Affairs, Kris Faafoi, has confirmed that bars and pubs will be able to open once New Zealand moves to COVID Alert Level 2 so long as they make sure they seat patrons and serve them food with their drinks.

Support is on the way for businesses facing insolvency due to COVID-19, with the Government introducing a package of measures in Parliament today to further boost New Zealand’s economic recovery.

The Government is fast-tracking measures to protect people in financial hardship from high-cost loans that trap them in debt.

The Government will be introducing legislation to make changes to the Companies Act to help companies facing insolvency due to COVID-19 to remain viable and keep New Zealanders in jobs.

New Zealand will temporarily remove tariffs on all medical and hygiene imports needed for the COVID-19 response.

The Government has asked the Commerce Commission to take account of the exceptional circumstances created by COVID-19 when monitoring business behaviour in coming weeks.

New Zealanders’ savings in KiwiSaver default funds will soon exclude investment in fossil fuels, the Ministers of Finance and Commerce and Consumer Affairs announced today.

Clear requirements for ensuring customers are treated fairly by banks, insurers and other financial service providers are included in new financial conduct legislation that passed its first reading today.

The Government is now considering the recommendations of the Retirement Commissioner’s review into New Zealand’s retirement income policies.

"Today is World Braille Day and I am delighted to announce that an international treaty giving blind and low vision New Zealanders access to books and literary works comes into force today,” Minister for Disability Issues Carmel Sepuloni announced today.