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

 


ACT Supports Union Call on People’s Bank

ACT Supports Union Call on People’s Bank

Wednesday 14th Feb 2001 Rodney Hide Media Release -- Economy

The Bank Workers’ Union, Finsec, says Jim Anderton’s proposed People’s Bank will just add to the list of problems now affecting the banking industry.

Rodney Hide, finance spokesman for ACT, today tabled a Finsec report in Parliament that he says casts enormous doubt on the ability of the bank to survive.

“The Finsec report is damning. It lists serious issues in banking and demands a proper enquiry before any new bank is set up.

“These people work daily in the banks. They know what they are talking about. And they are saying things like it is absurd to start a completely new banking network while ignoring the present chain of people’s banks run by credit unions. They are saying it would take years to establish the skilled staff, the secure premises and the full range of operations necessary to make a bank profitable.

“Finsec, the bank workers’ union – friends of Labour and the Alliance – is telling the government the People’s Bank is being pushed ahead for political reasons, not commercial reasons. They are telling the government such a bank will have to cope with lower fees, higher interest rates and enormous establishment and development costs – at the same time having to make profits to distribute back to the community.

“Who in their right mind believes this can happen?” Rodney Hide asked.

“Finsec reckons it could take 10 years for the so-called People’s Bank to form any sort of competition to the existing banks. It’s not at all surprising that it’s worried about the effect on the job security of bank staff.

“As Finsec points out, it’s a crook process when the Post Office itself, which would run the bank, is the organisation that reported to the Cabinet on its viability. Where’s the independence in that?”

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

 

Sector Opposes Bill: Local Government Bill Timeframe Extended

The Minister of Local Government Peseta Sam Lotu-Iiga has asked the Select Committee to extend the report back date for the Local Government Act 2002 Amendment Bill (No 2). More>>

ALSO:

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:

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