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

 


Protect the Savings of New Zealanders

Rt Hon Winston Peters
New Zealand First Leader

20 March 2013

Protect the Savings of New Zealanders

New Zealand First is calling for the introduction of a bank depositors’ guarantee scheme to protect the savings of blameless Kiwis during any financial crisis.

The policy would provide a government guarantee for deposits of up to $100,000 in New Zealand-owned banks.

The call comes as the Reserve Bank moves to adopt measures that would, under certain financial circumstances, allow it to take a portion of bank deposits from New Zealanders accounts.

A similar policy has caused public outrage and panic in Cyprus as that country works towards a Eurozone-endorsed bailout.

Rt Hon Winston Peters says the possibility that a New Zealand financial crisis and subsequent bailout could hit the savings of innocent, hard-working mums and dads is not the Kiwi way.

“Why take money off innocent New Zealanders who have simply used a bank in which to store their hard-earned money?

“Essentially that would see innocent New Zealanders being financially penalised for something that wasn’t of their making.

“That sort of scenario is never acceptable in a court of law so why make it part of the Reserve Bank’s policy,” says Mr Peters.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

New Research: Most Homeless People Working Or Studying

“The cost of housing has been rising without corresponding increases in income, whilst the number of state houses per capita has been in decline. Many low-income people are missing out on housing, whether we recognise them as ‘homeless’ or not. More>>

ALSO:

Post-Traynor: New Offender Info Sharing Plan

“This Bill delivers on that step-change by moving away from name-based records held by individual agencies to a shared, anchor identity based on unalterable information, such as fingerprints and facial recognition. It also gives agencies access to the drivers’ licence photo database and birth, death and marriages information." More>>

  • NZ Law Foundation - New $2M fund for research on information challenges
  • Littoral: New Ship To Deliver Enhanced Naval Capability

    Defence Minister Gerry Brownlee says the Government has approved a Ministry of Defence and New Zealand Defence Force recommendation to request tenders for a new naval ship to support littoral operations. More>>

    July:

    After King's Labour Snub: Māori Party And Kiingitanga To Work Together

    Māori Party Co-leaders Te Ururoa Flavell and Marama Fox met with Kiingitanga representatives in Wellington yesterday to discuss working together on key issues for the betterment of Māori. More>>

    ALSO:

    Waitangi Claim On Rehabilitation: The 'Justus' System For Māori Not Good Enough

    Closing statements at the Waitangi Tribunal case against Corrections called for immediate steps and a comprehensive review to address the high rate of Māori reoffending. More>>

    ALSO:

    Advice: PM Sets Rules For Ministers' Treatment Of Public Servants

    Prime Minister John Key has laid down the law about the way ministers and public servants should interact, saying ministers may not always like the advice they receive, but they must listen to it carefully, respectfully and professionally. More>>

    Gordon Campbell: On The Funding Changes In Special Needs Education, And Uber

    The plan to strip out the educational support for older “special needs” children in order to meet the existing shortfall in funding for special needs in early childhood education is so miserly and relentlessly stupid as to defy belief… More>>

    SPECIAL EDUCATION (& More):

    Online Learning Plans:

    Post Cab Presser: Inquiries And Consciences

    This afternoon the Prime Minister John Key announced that his cabinet had drafted terms of reference for the Havelock North water contamination inquiry... In response to questions on the Shop Trading Hours Amendment Bill, the Prime Minister said he didn't think allowing National MPs a conscience vote was warranted. More>>

    ALSO:

    Get More From Scoop

     

    LATEST HEADLINES

     
     
     
     
     
     
     
     
     
    Parliament
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news