Commerce Commission

And at the same time, the market can also not be working and cannot also be delivering.

And we have got a lot of evidence from the Commerce Commission that that is the case and that there are some markets problems that we are facing here in New Zealand that do need addressing.

And they might not necessarily be the solutions that both the two major political parties are putting up, but there are problems.

Well put.

A Christchurch mum and former lawyer who bought play sand contaminated with asbestos says the Commerce Commission's decision to enforce more safety checks on the products must be rolled out more urgently from February.

That's key.

Sand-related children's toys will need to be tested for asbestos before being sold in New Zealand.

So this is good news, I think.

New mandatory testing of sand products will keep children safe from asbestos, giving parents and caregivers greater peace of mind.

I'm reading from the Commerce Commission here.

You would be delighted by that.

In essence, you have driven that.

I'm glad that they've mentioned that there needs to be three separate samples as well, rather than just basing it on one.

Importers and suppliers will need to hold test reports to prove to customs or the Commerce Commission their products passed.

The requirements will remain in place for 18 months, while the Ministry of Business, Innovation and Employment explores longer-term options.

Well, because she hasn't had to make decisions.

And the reality is, in the two weeks the survey went out was the two weeks when we went out as a national party and said that we would be giving the Commerce Commission the power to make recommendations on splitting foodstuffs.

And I get it.

That is not the most popular policy in the boardroom.

It's nine minutes past ten.

The Commerce Commission says it will enforce new safety checks on sand products for children.

From February, certain sand products, including toys for children under 14 years old, must be tested and shown to be asbestos-free before they can be sold in New Zealand.

The requirements will be enforced by the Commerce Commission and Customs.

The Commission says the new rules are designed to reduce the risk of asbestos exposure and and the move follows a recall of coloured play sand products late last year, after asbestos was detected in them.

A Lower Hutt mum, whose two young children were exposed to the asbestos-contaminated sand, is questioning why new safety checks will only be in place for 18 months.

A Christchurch mother who received $15,000 in compensation from Kmart because it sold her asbestos contaminated play sand says new safety checks should be enforced before Christmas.

Starting in February, the Commerce Commission will require importers of some sand products to prove they are asbestos free.

But Elle Crisp says she feels discouraged by the lack of urgency, given a busy toy shopping season is approaching.

She says some sand products are still being sold, and she worries parents will buy them as Christmas presents.

But let's focus here on the role of central government And in modern capitalism, that counterbalancing of central government state authority to regulate against the inherent tendency of large-scale corporate capitalism to self-aggrandize and predate gives you an uneasy balance, which hopefully does as best as we possibly can for the interests of consumers in general.

When the Commerce Commission looks at industries and markets, and mergers and takeovers and all of those things, they have in their mind what they call a model of workable competition.

And the Commerce Commission tends to be satisfied if they have workable competition in a market.

I tend to think that they're a bit Panglossian about how workable the competition is in many of the cases they look at.

But nevertheless, there's a recognition there that at some point competition has to be reined in by regulation if you're not to have a runaway predation of market power on ordinary people.

The anti-competitive conduct was spelled out.

There was a provision to prevent price gouging, unreasonable prices.

There was a powerful Commerce Commission and examiner of trade practices.

Well, because she hasn't had to make decisions.

And the reality is, in the two weeks the survey went out was the two weeks when we went out as a national party and said that we would be giving the Commerce Commission the power to make recommendations on splitting foodstuffs.

And I get it.

That is not the most popular policy in the boardroom.