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PM’s Excuse on Bank Closures Not Good Enough

Rt Hon Winston Peters

New Zealand First Leader

Member of Parliament for Northland
26 AUGUST 2016

PM’s Excuse on Bank Closures Not Good Enough

The Prime Minister is, as usual, skipping responsibility by saying he can do nothing about Westpac closing 19 branches, many in rural towns, says New Zealand First.

“Questioned in Alexandra, Mr Key claimed ‘we can’t force them (Westpac) to do anything’.

“He is ducking the issue,” says New Zealand First Leader and Northland MP Rt Hon Winston Peters.

“At the same time he claims, according to The Southland Times, that ‘the government was supporting the communities and hoped the bank would listen’. Who to Mr Key, you are the Prime Minister.

“If the Prime Minister honestly wanted Westpac to retain banking services and the 72 jobs in towns like Ranfurly, Fairlie, Otorohanga and Te Anau and Kamo, in Northland, he would tell Westpac in no uncertain terms. After all, Westpac has had the government’s bank account for 29 years and Mr Key just renewed the contract.

“Before that renewal what did Mr Key ask of them?

“The Aussie bank is prepared to take taxpayers’ money and ship its profits overseas, but is not going to support the people. It’s not as though it’s losing money – it’s half-year profit to March 2016 was $445 million.

“Mr Key is acting as the bank’s apologist saying ‘the real challenge is whether the bank can find some way through and maybe listen to its customers’.

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“But he’s not true to his own words. Had the government listened to New Zealanders it would not have appointed a foreign bank as the government’s banker.

“It’s laughable that Mr Key says rural communities are the backbone of the country’ when he allows this to happen.

“Regional New Zealand is sick and tired of businesses closing down, and Seniors in particular need their bank to have a physical presence. Internet banking and apps aren’t for everyone.

“On the issue of provincial infrastructure, National’s record is just woeful and this is just one further example.”

The banks closing are in:

Kamo, Tauranga (Cherrywood), Palmerston North (Broadway), Christchurch (Bishopdale and Fendalton Mall), Dunedin (Gardens), Waikanae, Carterton, Raglan, Ranfurly, Te Aroha, Putaruru, Whangamata, Takaka, Stoke, Wainuiomata, Te Anau, Fairlie and Otorohanga.

ENDS


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