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

 


Little Help Against Loan Sharks

Little Help Against Loan Sharks


Loan sharks are getting nothing more than a slap on the wrist from the National Government, which refuses to introduce legislation to stop them charging very high interest rates, says New Zealand First.

“We are extremely disappointed in the Government for not putting a cap on interest rates as part of the Credit Contracts and Financial Services Law Reform Bill – this is the reason we voted against the committee stage of the Bill in Parliament yesterday,” says Commerce Spokesperson Andrew Williams.

“The most vulnerable people need every assistance to ensure that they are not ripped off by some of these unscrupulous racketeers.

“Commerce Minister Craig Foss could have taken an extra step and put a cap on interest rates as has been done in the United Kingdom, the US, Canada, Japan, Australia and much of Europe.

“United Future leader Peter Dunne has failed to put his representation of the people first, instead doing a flip flop, as he is wont to do, to save his political skin. He has refused to support an amendment to this Bill to include an interest rate cap.

“Three years ago he supported a similar Bill, which included interest rate caps, but now he has backed off.

“With his vote we could have dealt a blow to loan sharks but now all we have is weaker legislation that will have little effect on the extreme interest rates that loan sharks will charge their customers,” says Mr Williams.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Parliament Today:

The Kids: OECD Report Shows Huge Impact Of Poverty On Education

A new report from the OECD has again highlighted the negative effects of poverty, showing that disadvantaged children in New Zealand are more than six times more likely to underachieve in maths than children from wealthier homes. More>>

ALSO:

Pacific: NZ Pledges $500,000 To Help Address Zika

“With the Zika virus now confirmed in a number of Pacific countries, New Zealand is committed to helping limit the impact and spread of the virus in the region,” says Mr McCully. “New Zealand will provide $250,000 as a contribution to the WHO to implement the Pacific Zika Action Plan, and a further $250,000 to enable countries in the region to respond rapidly if required." More>>

ALSO:

Labour: Police Commissioner 'Doesn’t Get Force Needs'

The Police Commissioner has let down the public and his own force by insisting the police have what they need despite it taking a year to solve a burglary and overwhelming number of officers saying they are under-resourced, says Labour’s Police spokesman Stuart Nash. More>>

ALSO:

Gordon Campbell: On The US Pressure To Expand Our Role In Iraq

Foreign news services are being more forthcoming about what the “next 12 months” will entail – essentially, the defence ministers will be under US pressure to increase their “training” role preparatory to an assault on the city of Mosul in northern Iraq. More>>

ALSO:

Parliament Restarts: Prime Minister’s Statement

Our policy agenda and legislative programme will reflect the Government’s four priorities: • to responsibly manage the Government’s finances • to build a more competitive and productive economy • to deliver better public services to New Zealanders, an • to support the rebuilding of Christchurch. More>>

ALSO:

NZEI Survey Report: Special Needs Students Missing Out

The survey revealed that around 16 percent of students were on schools’ special needs registers, but nearly 90 percent of schools’ special needs coordinators did not believe there was adequate support for students and their learning... More>>

ALSO:

Interim Report: Waitangi Tribunal On Ture Whenua Legislation

Labour on Proposed changes to Maori land rules: “To have Treaty Negotiations Minister Chris Finlayson dismiss findings as ‘bizarre’ is totally disingenuous and disrespectful. What’s bizarre is Maori Development Minister Te Ururoa Flavell stubbornly pushing through this Bill before the Waitangi Tribunal has even completed its report..." More>>

ALSO:

Spy Update: Appointment Of GCSB Acting Director

GCSB Chief Legal Advisor Lisa Fong will become the Acting Director of the Government Communications Security Bureau (GCSB) from 15 February 2016, Minister Responsible for the GCSB Christopher Finlayson announced today. More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news