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Day of Credit Unions, October 17, should be a time to celebrate a long and proud history their role here is stymied by out of date legislation, Labour’s Consumer Rights and Standards Spokesperson Carol Beaumont says.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“Unfortunately these local credit unions are hindered in what they can do for their members by out of date legislation which limits their ability to expand.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

 

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