Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Government Must Recognise Risks Of Bank

Opposition Leader Jenny Shipley is warning the Prime Minister, the Minister of Finance and the directors of New Zealand Post that they must not risk taxpayers money for the sake of political expediency.

"History is littered with banking ventures which went wrong, and it seems the independent report on the People's Bank by Cameron and Associates raises genuine concerns," Mrs Shipley said.

"The Government is indicating the bank might now be delayed until 2002.

"When National came to power in 1990 one of the first issues we had to confront was the BNZ crisis. At our first Cabinet meeting we discovered the true degree of that problem, which the outgoing Labour Government had known for several weeks but had kept quiet during the election campaign.

"We do not want a repeat of that scenario over the People's Bank for the incoming Government in 2002.

"Dr Cullen needs to carefully weigh the risks associated with the Alliance's proposal. He must not allow political pressure from Labour's junior coalition partner to push the Government into a decision which might prove detrimental to all New Zealanders.

"New Zealand already has a high level of competition in the banking sector, and the Government must only allow the People's Bank proposal to proceed if it is sure it will be an asset, not a liability,' Mrs Shipley said.

Ends




© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Sir Michael Cullen’s Tax Reform

To ordinary wage and salary earners who (a) watch a slice of their gross income being taxed every week via PAYE and who also (b) pay GST on every single thing they buy, there has been something quite surreal about the centre-right’s angry and anguished reactions to the Tax Working Group’s final report... More>>

 
 

89 Cents An Hour: Govt Plans Fix For Minimum Wage For People With Disabilities

IHC is delighted that the Government is looking into replacing the Minimum Wage Exemption (MWE) with a wage supplement to ensure people with disabilities are paid at least the minimum wage. More>>

ALSO:

Te Waihanga: New Independent Commission To Tackle Infrastructure Issues

The New Zealand Infrastructure Commission – Te Waihanga – will be established as an Autonomous Crown Entity to carry out two broad functions – strategy and planning and procurement and delivery support. More>>

ALSO:

Auckland Action Against Poverty: Motels Profit From Housing Crisis

A single motel which charges up to $1,500 per week per room has received over $3 million worth of Government funds to provide emergency assistance, despite never having a Code Compliance Certificate – an offence under the Building Act – and receiving a series of longstanding complaints from occupants... More>>

ALSO:

Gordon Campbell: On The Alleged China Relations Crisis

If New Zealand’s relations with China are ‘deteriorating’ then you still need a microscope to detect the signs... More>>

ALSO:

Environment: Government To End Tenure Review

“Tenure review has resulted in parcels of land being added to the conservation estate, but it has also resulted in more intensive farming and subdivision on the 353,000 ha of land which has been freeholded. This contributed to major landscape change and loss of habitat for native plants and animals,” said Eugenie Sage. More>>

ALSO:

Bell Tolls: Big Changes, Grand Mergers Planned For Vocational Training

“At a time when we’re facing critical skill shortages, too many of our polytechnics and institutes of technology are going broke... More>>

ALSO:

Sallies' State Of The Nation: Progress Stalled In Reducing Inequality

The report shows a lack of tangible progress in key areas including record levels of household debt and a growing gap in educational achievement between poorer and more well off communities. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels