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

 


But Will Anderton Stop The National Bank Sale?

But Will Anderton Stop The National Bank Sale?

Wednesday 20 Aug 2003
Stephen Franks
Press Releases -- Commerce

ACT New Zealand Associate Commerce Spokesman Stephen Franks today asked Progressive Leader Jim Anderton what he is doing to stop the sale of National Bank to Australians.

"Mr Anderton yesterday applauded ACT's opposition to the sale, but didn't say what he was doing. He is a member of the Cabinet that has failed to tell the Aussies `no deal' until they fix their law, which says Australian depositors must be paid out before anyone else - including New Zealanders," Mr Franks said.

"As I said last week, `the Government must stop any sale of the National Bank to Australia until their law treats New Zealanders equally with Aussies in the event of a bank collapse'.

"Mr Anderton is a member of the Cabinet that has just pushed through a Reserve Bank Act amendment that would allow the sale to be stopped, but won't give the bank the public political and diplomatic backing to use the powers in case it upsets the Aussies.

"He is a member of the Cabinet that failed to include in the amendment powers to freeze Australian assets in New Zealand until it is clear Kiwi depositors will be treated fairly and equally with Australians. Such a weapon would ensure Australia gives New Zealand a place at the negotiating table when a major trans-national bank failure was being sorted.

"Is Mr Anderton calling on Finance Minister Dr Michael Cullen to act in New Zealanders' interests for a change? Tell the Aussie banks `transaction declined' until they give us some security. They must get their government to make the playing field level for New Zealanders if they want to profit more from us," Mr Franks said.

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

 

Also, Loan Interest: Productivity Commission On Tertiary Education

Key recommendations include better quality control; making it easier for students to transfer between courses; abolishing University Entrance; enabling tertiary institutions to own and control their assets; making it easier for new providers to enter the system; and facilitating more and faster innovation by tertiary education providers... More>>

ALSO:

Higher Payments: Wellington Regional Council Becomes A Living Wage Employer

Councillor Sue Kedgley said she was delighted that the Wellington Regional Council unanimously adopted her motion to become a Living Wage employer, making it the first regional council in New Zealand to do so. More>>

ALSO:

Scoop Images:
Dame Patsy Reddy Sworn In As Governor-General

This morning Dame Patsy Reddy was sworn in as the New Zealand Realm’s 21st Governor-General. The ceremony began with a pōwhiri to welcome Dame Patsy and her husband Sir David Gascoigne to Parliament. More>>

ALSO:

Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>

ALSO:

With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>

ALSO:

Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news