Customer and Product Data Bill

Members, we now come to our final debate, clauses 1 and 2. This is the debate on clauses 1 and 2, “Title” and “Commencement”.

This is a great moment to be supporting this bill. It is a bill which many parties in this House have come together to work on and to come to some practical solutions to issues which have been really troubling for the introduction of this consumer data right. But we are here now. There are some things that Labour members would have changed, but we can absolutely live with this regime.

It’s got to be a regime which allows the secondary legislation to be enabling for fintechs and for small players, especially in open banking. That is something that the Government continuously points to as an important structural reform for competition, and so we want it to work. We need this on the ground now. That’s why we’re supporting it in haste, although I would have liked to see this bill called the “Consumer Data Right”. Restricting it to customers is unnecessarily narrowing—it makes this about transactions. People should be at the heart of the way we design our digital economy. There is no need for us to ignore the potential for this to be applied to all consumers. All New Zealanders can benefit from a regime which encourages innovation and which encourages small tech companies to be able to use data to benefit everyone.

In the situation that the Minister of Commerce and Consumer Affairs described with energy companies being able to use data for people who are not the bill payer, but they are people who will massively benefit from being able to use technology with smart meters in their homes to better understand their bills—so I would have liked this to retain its name under Labour, the Hon Dr David Clark, the Hon Dr Duncan Webb and former National members who have been involved with this, the Hon Jacqui Dean, people who have championed the use of this kind of right by all people. We would have seen that as a consumer right; as a consumer protection. So it is a missed opportunity to say clearly what this bill is about, but we still commend it.

Clause 1 agreed to.

Clause 2 agreed to.

Bill to be reported with amendment.

House resumed.

Madam Speaker, the committee has considered the Customer and Product Data Bill and reports it with amendment. I move, That the report be adopted.

Motion agreed to.

Report adopted.

This bill is set down for third reading immediately.

Third Reading