Parliament

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

 

Kiwibank helping NZ economy


14 July 2002 media release

Jim Anderton, MP and candidate for Wigram

Kiwibank helping NZ economy


Jim Anderton today said that the Kiwibank has again highlighted the need for economic policy that promotes growth and keeps interest rates low.

“It is obvious that the recent announcement from Kiwibank that it is not putting up home mortgage interest rates is good news for New Zealanders. A 1% rise in mortgage rates adds about $52 per month to the expenses of an average $100,000.

“Substantial rises in interest rates, and the threat of them, choke off economic growth in New Zealand, because it reduces investment and raises the exchange rate – and this undermines our exports.

“New Zealand needs policy aimed at stable and low interest and exchange rates which reflect the strength of the real economy. Export-led growth in many other economies has not led to increased inflation, and this should be our goal.

“A balanced economic policy would support the regions in agricultural growth, particularly where further value could be added in New Zealand to primary products.

“For this reason, The Progressive Coalition is arguing for changes to the Reserve Bank Policy Target Agreement. But it would also support policies for export-led growth to keep inflation down and the regions growing.

“Sustained annual GDP growth of 4%, is a key objective of The Progressive Coalition’s economic policy.

“Since the Kiwibank overseas owned banks have been forced to respond. The result has been lower interest rates, lower fees and better service. More of the industry’s profit will be retained in New Zealand. This will benefit all consumers, as well as the country.

“Strong competition in the New Zealand banking sector helps to keep down interest rates and shows the success of government policy in setting up the Kiwibank” said Jim Anderton.

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Ministerial Inquiry: Broad Look At Mental Health And Addiction Services

The Government has taken a major step towards improving mental health and addiction services with Prime Minister Jacinda Ardern announcing details of a ministerial inquiry.

The Inquiry into Mental Health and Addiction will be chaired by former Health and Disability Commissioner, Professor Ron Paterson, and will report back to the Government by the end of October. More>>

 

Wealth: Two NZers Own More Than Poorest 30%

A staggering 28 per cent of all wealth created in New Zealand in 2017 went to the richest 1 per cent of Kiwis, while the 1.4 million people who make up the poorest 30 per cent of the population got barely 1 per cent, according to new research released by Oxfam. More>>

ALSO:

Employment: Joint Working Group On Pay Equity Principles Reconvened

Minister for Workplace Relations and Safety, Iain Lees-Galloway, and Minister for Women, Julie Anne Genter, are reconvening the Joint Working Group on Pay Equity Principles as the next step in pay equity for New Zealand women. More>>

ALSO:

Hapū: Prime Minister And Clarke Gayford Expecting First Child

Prime Minister Jacinda Ardern and her partner, Clarke Gayford, have announced that they are expecting their first child in June. “We’re both really happy. We wanted a family but weren’t sure it would happen for us, which has made this news unexpected but exciting." More>>

ALSO:


Gordon Campbell: on the inquiry into the abuse of children in care

Apparently, PM Jacinda Ardern has chosen to exclude faith-based institutions from the government’s promised inquiry into the abuse of children in state care. Any role for religious institutions – eg the Catholic Church – would be only to observe and to learn from any revelations that arise from the inquiry’s self-limiting focus on state-run institutions… More >>

Gordon Campbell: On Jim Anderton
For anyone born after 1975, it is hard to grasp just how important a figure Jim Anderton was, for an entire generation.
During the mid to late 1980s, Anderton was the only significant public figure of resistance to the Labour government’s headlong embrace of Thatcherism...More>>

ALSO:


Gong Time: New Year's Honours List

Jacinda Ardern today congratulated the 179 New Zealanders named on the 2018 New Year’s Honours List. “Although this list was compiled and completed by the last government, it is a pleasure to welcome in the New Year by recognising exceptional New Zealanders,” Jacinda Ardern said. More
Full list

Roads: National launches bid to save highway projects

The National Party has launched a series of petitions aimed at saving regional highway projects at risk because of the Government’s obsession with Auckland trams…More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages