Westpac Responds To Education Minister's Comments

Statement In Response To Comments From Minister Of Education

We were disappointed to read Hon Trevor Mallard’s comments today regarding our Chief Economist’s analysis of the Labour Party’s proposed policy regarding student loans.

Westpac Economics provides economic analysis and commentary for a target audience of Westpac customers who are active in the financial markets. Issues that are covered are those that our economists consider are likely to have an economic or financial impact, including proposed fiscal policy. In the case of the proposed student loans policy the cost analysis was positioned to calculate the extreme worst-case fiscal costs.

We maintain a policy of editorial independence for our economists to preserve the integrity of their analysis. We can assure you the commentary is independent of any other bank interest.

ENDS.

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