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

 


Weak Response to Loan Shark Rip Offs

Andrew Williams MP
Spokesperson for
Commerce
28 May 2014
Weak Response to Loan Shark Rip Offs
Thousands of Kiwis are being left to the mercy of loan sharks and will continue to face exorbitant interest rates, says New Zealand First.

“The National Government has blatantly ignored the simplest and most effective measure that would have protected many families from crippling payments – a cap on interest rates,” says New Zealand First Commerce Spokesperson Andrew Williams.

“The government has made a song and dance about the Credit Contracts and Consumer Finance Amendment Bill. However, all they have done is write pages of fine print that no-one will read, and certainly not people who have limited or no English skills.

“Instead, the one practical step of placing a limit on interest rates would have brought relief for countless families who need to borrow money in their hour of need.

“New Zealand First was the only party to vote against this bill because it fails to fully protect vulnerable people.

“Many countries already have interest rate caps, such as Australia, UK, USA, Canada, South Africa and much of Europe. Other countries are in the process of introducing similar legislation, including India, Hong Kong, Thailand, Vietnam. Philippines and Turkey.

"But this National Government thinks it knows better. National just does not care for the most vulnerable in our country. They live in a different world to the people who are affected by loan sharks. While this government was elected to work for all the people of New Zealand, they have shown no desire to carry out their duty.

“New Zealand First will continue to work towards getting an interest rate cap in place to stop money lenders ripping off families and hardworking New Zealanders," says Mr Williams.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Novopayout: Government-Owned Company To Take Over School Payroll

After lengthy negotiations, the Ministry of Education and the existing school payroll provider, Talent2, have settled both on the amounts payable by Talent2 towards the costs of remediating the Novopay service and a new operating model for the school payroll system.

The new model involves a new government-owned company taking over the operation of the payroll service, and Talent2 licensing the core Alesco software to that company.

The settlement provides for Talent2 to pay the Ministry between $18 million and $22 million, made up of $7 million in cash and other considerations including a license for the Alesco software and discounted fees for the support and maintenance of this software. More>>

 

Parliament Today:

Werewolf Issue #49: Gordon Campbell Interviews Laila Harre

For 25 years, Labour and National have been in virtual agreement about the basics of economic policy, and differed mainly on how to go about managing its social consequences. More>>

ALSO:

Gordon Campbell: On National’s Electorate Deals

For all the talk yesterday from Prime Minister John Key about National being transparent about its electorate deals in Epsom and Ohariu, that transparency is entirely front-loaded. More>>

ALSO:

Greens: Oil Drilling Face-Off With Labour

The key policy points in the Green Party’s plan to protect our beaches from oil spills are to:
1. Prohibit deep sea oil drilling; 2. Implement compulsory shipping lanes for coastal shipping; 3. Build Maritime New Zealand’s oil spill response capability; and 4. Introduce a stronger legal framework so that when accidents do happen, the New Zealand taxpayer does not have to pay for the clean-up. More>>

ALSO:


Nick Smith v Fish & Game:

Minister Told Of FBI Investigation, Says INZ: Coleman Must Quit Or Be Sacked Over Dotcom Case - Harré

Immigration New Zealand has done the right thing in distancing itself from Jonathan Coleman’s claims that ministers were not aware of FBI involvement in Kim Dotcom’s residency application, says the Internet Party. More>>

ALSO:

Valedictory Season: Maori Party Founders Say Goodbye

Two major Maori MPs gave there farewell speeches to Parliament Thursday outlining their history, experiences, triumphs and regrets. More>>

ALSO:

Resignation Not Accepted: Transport Minister Breaches Aviation Security Rules

"Running late for a plane at Christchurch Airport, I without thought breached airport and airline security rules by entering the gate lounge through a door usually used for exit only..." More>>

ALSO:

TAIC Report: Urgent Recommendations After Melling Rail Accident

The Transport Accident Investigation Commission has made four urgent recommendations to KiwiRail following the accident two months ago (27 May) when a Matangi passenger train collided with a stop block at Melling Station, Lower Hutt. More>>

ALSO:

Red Tape: Local Regulations Go Under Microscope

The Government says it is accepting nearly all of the recommendations the Productivity Commission has made on ways to improve local regulations. More>>

ALSO:

Spending Questions: Claudette Hauiti To Step Aside At Election

National Party President Peter Goodfellow confirms that he has received notification from List MP Claudette Hauiti that she plans to step aside at the 20 September election. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news