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

 


Jim! Please Answer These Five Questions

Jim! Please Answer These Five Questions

Sunday 28th Jan 2001 Rodney Hide Media Release -- Economy

ACT Finance spokesman Rodney Hide said today that Deputy Prime Minister Jim Anderton needed to be up-front with taxpayers on the risks, costs and benefits of his “People’s Bank”.

“So far Jim Anderton has told us nothing. It’s taxpayers’ money he’s proposing to pour in and put at risk. The very least he should do is explain his plans to taxpayers.

“Here are five basic questions that Jim Anderton should begin by answering:

1. What is the expected total cost of the “People’s Bank”?

2. What services will be offered – will it just be a “cash in / cash out” bank or will it offer a full range of banking services including debit cards, housing loans, and the granting of overdrafts?

3. What is the expected customer base for each year over the next five years, what is the expected revenue and what is the expected cost?

4. Will the government allow the “People’s Bank” to fail; and what is the expected risk especially in light of the cost to the taxpayer of the DFC, BNZ and Rural Bank when they were under government ownership?

5. What has been the advice of the Treasury and of the Independent Reviewers on the Bank’s viability and will this advice be made publicly available in its entirety?

“The “People’s Bank” is a very risky venture. Jim Anderton has no banking experience. NZ Post has no staff experience and no banking facilities. The “People’s Bank” will be small and desperately under-capitalised.

“The five major private banks in New Zealand have assets totallling $144,000 million, annual profits totalling $2,000 million, and they pay a total of $560 million a year in tax. Against this, the “People’s Bank” really looks a “Peewee Bank”.

“Tomorrow’s cabinet must ask the tough questions – and Jim Anderton should start providing some answers,” said Rodney Hide.

ENDS

For more information visit ACT online at http://www.act.org.nz or contact the ACT Parliamentary Office at act@parliament.govt.nz.

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Breed Laws Don’t Work: Vets On New National Dog Control Plan

It is pleasing therefore to see Louise Upston Associate Minister for Local Government calling for a comprehensive solution... However, relying on breed specific laws to manage dog aggression will not work. More>>

ALSO:

Corrections Corrected: Supreme Court Rules On Release Dates

Corrections has always followed the lawful rulings of the Court in its calculation of sentence release dates. On four previous occasions, the Court of Appeal had upheld Corrections’ practices in calculating pre-sentence detention. More>>

ALSO:

Not Waiting On Select Committee: Green Party Releases Medically-Assisted Dying Policy

“Adults with a terminal illness should have the right to choose a medically assisted death,” Green Party health spokesperson Kevin Hague said. “The Green Party does not support extending assisted dying to people who aren't terminally ill because we can’t be confident that this won't further marginalise the lives of people with disabilities." More>>

ALSO:

General Election Review: Changes To Electoral Act Introduced

More effective systems in polling places and earlier counting of advanced votes are on their way through proposed changes to our electoral laws, Justice Minister Amy Adams says. More>>

Gordon Campbell: On Our Posturing At The UN

In New York, Key basically took an old May 2 Washington Post article written by Barack Obama, recycled it back to the Americans, and still scored headlines here at home… We’ve had a double serving of this kind of comfort food. More>>

ALSO:

Treaty Settlements: Bills Delayed As NZ First Pulls Support

Ngāruahine, Te Atiawa and Taranaki are reeling today as they learnt that the third and final readings of each Iwi’s Historical Treaty Settlement Bills scheduled for this Friday, have been put in jeopardy by the actions of NZ First. More>>

ALSO:

Gordon Campbell: On The Damage De-Regulation Is Doing To Fisheries And Education, Plus Kate Tempest

Our faith in the benign workings of the market – and of the light-handed regulation that goes with it – has had a body count. Back in 1992, the free market friendly Health Safety and Employment Act gutted the labour inspectorate and turned forestry, mining and other workplace sites into death traps, long before the Pike River disaster. More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news