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


Dunne calls for decisive action on mortgage funds

Media statement
For immediate release
Wednesday, 29 October 2008

Dunne calls for decisive action on mortgage funds freeze

UnitedFuture leader Peter Dunne says AXA New Zealand's freezing of hundreds of millions of dollars in three of its mortgage funds illustrates the need for concerted, decisive action by New Zealand's political and financial leaders.

"Thousands of ordinary Kiwis have seen their life savings lost through the collapse of finance companies; the value of their houses slashed as the property market slumps; the costs of imports soar as the value of the dollar collapses; the threat of unemployment looming; and now they can't even get their money out of their mortgage fund because AXA says there's uncertainty and confusion over who's covered by the Government's deposit guarantee scheme.

"This is a recipe for a complete collapse in confidence and a long-term, stubbornly-rooted recession," said Mr Dunne.

"Even though we are in the final stages of an election campaign, this is a situation that calls for close co-operation and agreed collaboration by all political leaders to return certainty and confidence to New Zealand investors and savers.

"No matter who leads the next Government, now is the time to put aside sectional interest and combine our ideas to defend and strengthen the New Zealand economy for the benefit of all Kiwis.

"This economic crisis is definitely a time for us all to work together, or sink together," concluded Mr Dunne.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On DHB Deficits And Free Trade

Currently the world is looking on aghast at the Trump administration’s plans to slash Obamacare, mainly in order to finance massive tax changes that will deliver most of their gains to the wealthy. Lives will be lost in the trade-off. Millions of Americans stand to lose access to the healthcare they need.

Spot the difference with New Zealand, where DHBs are under intense pressure to reduce deficits within a climate of chronic underfunding. More>>


Greens' Response: Slum-Like Rentals Exposed In Renting Review

“...The grim findings of the review are a wakeup call about the true state of rentals in this country. Too many renters are festering in slum-like conditions under the thumb of landlords who have largely unchecked powers and ignore tenants’ complaints when it suits them.” More>>


Gordon Campbell: On The Life And Times Of Peter Dunne

The unkind might talk of sinking ships, others could be more reminded of a loaded revolver left on the desk by his Cabinet colleagues as they closed the door behind them, now that the polls in Ohariu had confirmed he was no longer of much use to National. More>>


Gordon Campbell: On Labour’s Campaign Launch

One of the key motifs of Ardern’s speech was her repeated use of the phrase – “Now, what?” Cleverly, that looks like being Labour’s response to National’s ‘steady as it goes’ warning against not putting the economic ‘gains’ at risk. More>>


Lyndon Hood: Social Welfare, Explained

Speaking as someone who has seen better times and nowadays mostly operates by being really annoying and humiliating to deal with, I have some fellow feeling with the current system, so I’ll take this chance to set a few things straight.. More>>


Deregistered: Independent Board Decision On Family First

The Board considers that Family First has a purpose to promote its own particular views about marriage and the traditional family that cannot be determined to be for the public benefit in a way previously accepted as charitable... More>>


Transport Policies: Nats' New $10.5bn Roads Of National Significance

National is committing to the next generation of Roads of National Significance, National Party Transport Spokesperson Simon Bridges says. More>>





Featured InfoPages

Opening the Election