Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

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

 

Don’t Wait to Act on Loan Sharks

Don’t Wait to Act on Loan Sharks

The government needs to take action now on loan sharks, not call another meeting, the Pacific workers’ Fono of the National Distribution Union said today.

Sio Kasipale, Fono organiser, said that low income workers in areas like South Auckland have been poorly served by inadequate protections around dodgy lenders.

“Today’s revelation that some lenders are approving loans over text message, with interest rates as high as 60 per cent, is all the evidence government needs to act now, rather than further delay a response by having a ‘summit’ on the matter,” he said.

“What is needed is a cap on interest rates charged by lenders. Other countries do this, and there is no reason why we can’t.”

“New Zealand needs to be helping people to overcome financial problems, not giving them more options to get into debt, which is what loan sharks do every day of the year in our poorest communities.”

Sio Kasipale said that the government has already had ample opportunity to clamp down on loan sharks.

“Carol Beaumont has done some excellent work on this issue to date. If the government was genuinely looking for a solution, they could have supported her bill, or included its amendments as part of a response to the 2009 review of consumer finance law.”

“Why has government waited till an election year and a front page newspaper story to finally announce they are taking action?” he asked.

The National Distribution Union represents 21,000 workers in retail, transport & logistics, wood and textiles. The Fono is made up of Pacific workers within the union.

ENDS

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines


Gordon Campbell: On The US Opposition To Mortgage Interest Deductibility For Landlords


Should landlords be able to deduct the interest on the loans they take out to bankroll their property speculation? The US Senate Budget Committee and Bloomberg News don't think this is a good idea, for reasons set out below. Regardless, our coalition government has been burning through a ton of political capital by giving landlords a huge $2.9 billion tax break via interest deductibility, while still preaching the need for austerity to the disabled, and to everyone else...
More


 
 

Government: Concerns Conveyed To China Over Cyber Activity
Foreign Minister Winston Peters has confirmed New Zealand’s concerns about cyber activity have been conveyed directly to the Chinese Government. “The Prime Minister and Minister Collins have expressed concerns today about malicious cyber activity... More

ALSO:


Government: GDP Decline Reinforces Government’s Fiscal Plan

Declining GDP for the December quarter reinforces the importance of restoring fiscal discipline to public spending and driving more economic growth, Finance Minister Nicola Willis says... More

ALSO:


Government: Humanitarian Support For Gaza & West Bank

Winston Peters has announced NZ is providing a further $5M to respond to the extreme humanitarian need in Gaza and the West Bank. “The impact of the Israel-Hamas conflict on civilians is absolutely appalling," he said... More


Government: New High Court Judge Appointed

Judith Collins has announced the appointment of Wellington Barrister Jason Scott McHerron as a High Court Judge. Justice McHerron graduated from the University of Otago with a BA in English Literature in 1994 and an LLB in 1996... More

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels


 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.