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

 


Important role stymied by Government inaction

Carol BEAUMONT

Consumer Rights and Standards Spokesperson

17 October 2013          MEDIA STATEMENT

Important role stymied by Government inaction

While International Day of Credit Unions, October 17, should be a time to celebrate a long and proud history their role here is stymied by out of date legislation, Labour’s Consumer Rights and Standards Spokesperson Carol Beaumont says.

The first credit union opened in 1844 and there are now 200 million members in 101 countries.  In New Zealand 210,000 people belong to credit unions - financial co-operatives which return profits to their members rather than see them go offshore.

“Unfortunately these local credit unions are hindered in what they can do for their members by out of date legislation which limits their ability to expand.

“Despite a clear case being made by credit unions for legislative change the best the National Government can come up with is promises of a back bench MP putting a bill in the Member’s ballot.

“Government legislation should be prioritised. It would have cross party support.

“Labour believes that credit unions have an important role to play in consumer credit both by increasing consumer choice and as an alternative to predatory lenders like loan sharks and pay day lenders.

“We have committed to changes to the legal status of credit unions and enabling them to make business loans to their members. We will also look at any other unnecessary regulation of Credit Unions.

“Like the regulation of loan sharks it seems that action that would benefit consumers including vulnerable consumers is not a priority of this National Government.”

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

PARLIAMENT TODAY:

Mt Eden Prison: Serco Inquiry Extended

A two month delay to the Government investigation into prison fight clubs shows the extent of problems within the Serco circus, says Labour’s Corrections spokesperson Kelvin Davis. More>>

ALSO:

Health And Safety: Late Addition Of National Security Provisions A Concern

The New Zealand Law Society has expressed its significant concerns at the last-minute addition to the Health and Safety Reform Bill of provisions for a closed material procedure for court proceedings where national security is involved. More>>

ALSO:

Rugby And Beer: World Cup Alcohol Bill Passes

ACT MP David Seymour’s Sale and Supply of Alcohol (Extended licensing hours during Rugby World Cup) Bill completed its third reading by 99 to 21... More>>

ALSO:

Gordon Campbell: On The Flag Campaign

So far, the public has treated the government’s flag campaign with something between disinterest and disdain. Most New Zealanders have instinctively seen through the marketing hype involved. More>>

Change For 2017: Local Govt To Decide On Easter Sunday Trading

The Government is to enable local communities, through councils, to decide whether retailers can open on Easter Sunday, Workplace Relations and Safety Minister Michael Woodhouse announced. More>>

ALSO:

(And Targets Worse Than Australia's): Foresters Abandoning Emissions Trading Scheme

The Government’s gutting of the Emissions Trading Scheme has caused foresters to leave and emissions to rise, says Labour’s Climate Change spokesperson Megan Woods. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news