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

No Charges: Outcome
Of Operation Clover Investigation

Police have completed a multi-agency investigation, Operation Clover, into the activities of a group calling themselves “The Roast Busters”. The 12 month enquiry focused on incidents involving allegations of sexual offending against a number of girls in the Waitemata Police district and wider Auckland area.

Following a lengthy and complex investigation, charges are not being laid by Police at this time regarding 8 incidents involving 7 victims and 5 suspects. More>>

 

Parliament Today:

UNICEF Report: NZ Cautioned On "Stagnating" Child Poverty

An international report by UNICEF has found that child poverty rates in New Zealand have barely changed since 2008, despite similar sized countries significantly reducing child poverty during the recent recession. More>>

ALSO:

Funding Report: Two Pathways For Transport In Auckland

Commissioned by Auckland Council, the group was asked to investigate two possible pathways for raising $300 million per year ($12 billion over 30 years) to pay for the improvements needed to help fix Auckland’s transport system. More>>

ALSO:

Pay Equity: Equal Pay Win In Court Of Appeal

CTU: The Court of Appeal has made a historic decision paving the way for a substantial equal pay claim for aged care workers. More>>

ALSO:

Gordon Campbell: On The TPP Finishing Line, And Amazon’s Woes

If the Trans Pacific Partnership trade deal wasn’t such a serious matter, this would be pretty funny… More>>

ALSO:

TV3 Video: Three Die On Roads Over Labour Weekend

The official holiday period ended at 6am Tuesday, with three deaths on the roads during the Labour Day weekend. More>>

Employment Relations Bill: Govt Strains To Get Tea Break Law Through

The Government has been left with egg on its face - failing to get its much-vaunted, but hugely unpopular, meal break law passed in the first week of its new term, Labour spokesperson on Labour Issues Andrew Little says. More>>

ALSO:

Guns: Police Association Call To Arm Police Full Time

"The new minister gave his view, that Police do not need to be armed, while standing on the forecourt of parliament. The dark irony was that the interview followed immediately after breaking news of a gunman running amok in the Canadian parliament in Ottawa..." More>>

ALSO:

Gordon Campbell: On The Tokenism Of New Zealand's Role Against Islamic State

Our contribution against IS will be to send SAS forces to train the Iraqis? That’s like offering trainers to General Custer just as the 7th cavalry reached the Little Big Horn. More>>

ALSO:

Scoop Business: Shell And Todd Caught Drilling Without Approval

Multi-national oil company Shell’s New Zealand arm and local energy giant Todd Energy have breached the new law governing New Zealand’s Exclusive Economic Zone, the Environmental Protection Authority says in an Oct. 10 document released by the Green Party. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news