WIRES:

Stop The Bank Until NZ Post Is Sorted

Wednesday, 4 July 2001, 9:43 am
Press Release: ACT New Zealand

Any development on 'MyBank' must stop until the NZ Post Board chaos is sorted, ACT Finance Spokesman MP Rodney Hide said today.

"Mr Armstrong and his Board are on their way out. Development of the bank must cease until a new NZ Post Board is formed and can make an informed decision.

"Every piece of advice Mr Armstrong's board received was against 'MyBank'. However, it was Mr Armstrong's pet project, and he steam-rolled it through with arrogance and autocracy.

"The next Chairman or Board of NZ Post will reject the bank proposal. If they are to have an opportunity to salvage anything from this fiasco, development on 'MyBank' must stop now."

Ends

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