Corporate regulators get funds trimmed in no-frills Budget

Corporate regulators get funds trimmed in no-frills Budget
The Commerce Commission, chaired by John Small, has had its budget trimmed this year. (Image: Supplied)
Victoria Young
New Zealand’s key corporate regulators have had their budgets trimmed in finance minister Nicola Willis’ inaugural Budget.In presenting her Budget today, Willis said she had met her baseline savings target to achieve $1.5 billion in operating savings annually,As part of plans to curb spending, the Commerce Commission’s annual allowance has been trimmed from $53.8 million to $46.79m, achieved through pruning several monitoring and enforcement budgets.The government said it would reduce contractor and consultant expenditure, and...

More Law & Regulation

Auckland Council spends $195k defending Downtown Car Park challenge
Law & Regulation

Auckland Council spends $195k defending Downtown Car Park challenge

Vacated legal challenge resulted in no concessions, council says.

Tom Raynel 26 Jul 2024
Vector agrees to sell LPG assets for $150m
Markets

Vector agrees to sell LPG assets for $150m

The deal is subject to regulatory approvals and commercial conditions.

Rebecca Howard 26 Jul 2024
Minister's $200m tobacco tax cut bypasses Cabinet requirements
Policy

Minister's $200m tobacco tax cut bypasses Cabinet requirements

Researchers say there's more evidence to support the repealed Smokefree policies.

Jem Traylen 26 Jul 2024
Officials move on Richard Yan’s castle
Property

Officials move on Richard Yan’s castle

Richard Yan's extensive heritage property is being sold following his bankruptcy.

Tom Raynel 26 Jul 2024