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


Kiwibank is answer to fears about foreign banks

28 July 2003

Hon Matt Robson MP, Progressive Deputy Leader

Kiwibank is answer to Reserve Bank's fears about foreign-owned banks

Concerns in the Reserve Bank about further Australian ownership of the New Zealand banking industry are justified, Progressive MP Matt Robson says.

The Reserve Bank Governor says that if the Commonwealth of Bank of Australia buys National Bank, 85 percent of New Zealand's banks will be owned in one foreign country.

The Bank is considering tighter ownership regulations to protect New Zealanders if a main bank failed in Australia.

"No other developed country has as much of its financial system overseas owned," Matt Robson said.

"The best solution is to ensure a significant proportion of our banking system is New Zealand-owned. That is better than trying to tie regulatory knots.

"This is another reason why all of New Zealand is benefiting from the success of Kiwibank.

"Our bank is growing much faster than predicted and every day that it grows, it helps to ease the problems that are causing the Reserve Bank to be concerned," Matt Robson said.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The New Pike River Agency (And The Air Strike Wing)

Much of the sympathy the public still feels for the families of the Pike River miners has been sustained by the sense that the previous government – let alone the mining company and the processes of receivership and litigation – has never dealt honestly, or fairly, with them.

Finally, yesterday’s announcement by the Ardern government that a new state agency will be set up to assess and plan the manned re-entry to the mine (on a set timetable) goes a long way to meeting the families’ remaining request: that they be enabled, if at all possible, to bury their loved ones. More>>


Foreign Affairs: Patrick Gower Interviews Jacinda Ardern

Prime Minister Jacinda Ardern says discussions have already begun on how to bring climate change refugees into New Zealand under a Pacific seasonal employment plan... More>>


Gordon Campbell: On The Centre Right’s Love Of ‘Nanny State’

You’d almost think it was 2005 again. That was a time when the rugged individualists of the centre-right were being beset by government regulations on the nature of light-bulbs, the size of shower heads, the junk food available at school tuck shops and other such essentials... More>>

Speaking Of Transport: Public Engagement On Wellington Scenarios

“Our work on possible solutions for Wellington’s transport future is ongoing, but has progressed to the stage where we’re ready to share our ideas with the public and seek their feedback to help guide our next steps...” More>>


Parental Leave: National's Time-Sharing Change Fails

National has proposed a change to the Parental Leave and Employment Protection Amendment Bill that would allow both parents to take paid parental leave at the same time, if that is what suits them best. More>>


Train Free Thursday: Workers Strike To Defend Terms Of Employment

"They signed up to these conditions a year ago when they got the contract for Wellington's rail services. Now they're trying to increase profits by squeezing frontline workers." More>>


Seclusion: Ombudsman Emphasises Importance Of Monitoring

Disability Rights Commissioner Paula Tesoriero says that while there have been changes to the Education (Update) Amendment Act 2017 to prohibit the use of seclusion, the report is an important reminder of the importance of regular monitoring of schools. More>>





Featured InfoPages

Opening the Election