Effort between Dept of Economic Policy and SBDF for Consumer Protection Act
Minister of Economic & Tourism Affairs, Telecommunications & Transport Hon. Franklin Meyers, has established a collaboration effort between the Department of Economic Policy and Research (DEPR) and the Small Business Development Foundation (SBDF).
Minister Meyers says that in January 2012 steps will be taken by the aforementioned department and SBDF leading to the development of a Consumer Protection system.
"We need to ensure a fair marketplace and safe products and services for consumers and Government is committed to seeing the necessary laws and systems put into place that would lead to this," Minister Meyers said on Wednesday.
On Tuesday the DEPR and SBDF met with Minster Meyers to discuss plans for the development of a Consumer Protection Act.
One of the programs of the Social Economic Initiative (SEI) was the establishment of a Consumer Protection Act. A financial agreement was signed between SBDF on July 6, 2009 and the Island Government.
This agreement includes the drafting of the act, the establishment of the legal ramification for its enforcement and a provision for an information campaign for businesses and consumers.
The Act will benefit consumers and will also enhance the country’s reputation with respect to economic and business development and promotion and the protection of consumers.
A level playing field will be created between small business and big business whereby the same protection to consumers regardless of size is the order of the day with respect to contracted goods and services.