October 24, 2014
G6 rejects anti-hoarding law, threats to turn to courts if bill passes
Business leaders who make up the so-called G6 group have rejected the government-sponsored anti-hoarding law that will be discussed in the Senate on Wednesday, saying it would “seriously risk job production, investment and proper goods supply.”
“The bill would mean direct intervention of the state in the economy and businesses,” a press release signed by representatives of the Argentine Industrial Union (UIA), Argentine Construction Camera (CAC), Private Bank Association, Argentine Trade Camera, the Stock Market and Argentine Rural Society (SRA) reads.
The G6 said the government will not be able to “promote competition and defend consumer rights”, as the bill proposes, with the “interventionist measures” described in the legislation, such as “setting prices, stock, and production levels”.
“The bill seriously risks job production, investment and proper goods supply,” they added, while saying they will “turn to justice” if the bill passes as they consider the initiative violates the separation of powers.