Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search


Westpac profit good news for customers and staff

For immediate release
Thursday 30 October 2008

Westpac profit up 6% - should mean good news for customers & staff

Bank workers’ union Finsec says that the Westpac New Zealand announcement that profits are up 6% is proof that banks can do well in this country without resorting to offshoring or cutting staff numbers, and that the banks should now make sure that benefits are passed on to their customers.

“Westpac’s increased profits show that our banks can keep good jobs in New Zealand and still offer a good return to shareholders, and they deserve recognition for that.” said Andrew Campbell, Finsec Campaigns Directors. “All our major banks are in a strong position despite the credit crisis, and their strength should mean job security for bank staff.”

“The Westpac profit announcement comes on the same day that significant numbers of ANZ retail staff are being advised of the outcome of voluntary redundancies,” said Andrew. “All our banks should be investing in local staff, rather than rushing to cut jobs.”

Campbell said that our banks’ profitability should also be passed on to customers in the form of interest rate cuts. “Westpac and other banks are in a good position to cut interest rates and offer some relief to their customers in these difficult times. We would like to see interest rates cuts come quickly, on the back of all these positive profit announcements.”


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Back Again: Government Approves TPP11 Mandate

The Government has approved a negotiating mandate for Trans-Pacific Partnership 11 (TPP11), which will ensure New Zealand businesses remain competitive in overseas markets.

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>




Gordon Campbell: On Why Labour Isn’t Responsible For Barnaby Joyce

As a desperate Turnbull government tries to treat the Barnaby Joyce affair as a Pauline Hanson fever dream – blame it on the foreigners! We’re the victims of the dastardly New Zealand Labour Party! – our own government has chosen to further that narrative, and make itself an accomplice. More>>


Rail: Greens Back Tauranga – Hamilton – Auckland Service

The Green Party today announced that it will trial a passenger rail service between Auckland, Hamilton and Tauranga starting in 2019, when it is in government. More>>


Housing: Voluntary Rental Warrant Of Fitness For Wellington

Wellington City Council is partnering with the University of Otago, Wellington, to launch a voluntary Rental Warrant of Fitness for minimum housing standards in Wellington, Mayor Justin Lester has announced. More>>


Treaty: Agreement In Principle Signed With Moriori

“The Crown acknowledges Moriori was left virtually landless from 1870, hindering its cultural, social and economic development. The Crown also acknowledges its contribution to the myths that the people of Moriori were racially inferior and became extinct." More>>


Susan Devoy: Call For Inquiry Into State Abuse Reaches UN

Race Relations Commissioner Dame Susan Devoy is in Geneva and has asked a United Nations committee to urge the New Zealand government to initiate an inquiry into the physical and sexual abuse of children and disabled people held in state institutions. More>>


(Not National): Cross-Party Agreement On Pike River Re-Entry

The commitment was signed this afternoon by the leaders of Labour, United Future, The Maori Party, and the Green Party and, together with the earlier commitment by New Zealand First, means that there is now a Parliamentary majority behind the families’ fight for truth and justice. More>>






Featured InfoPages

Opening the Election