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


Kiwis must move banks to support NZ

Thursday 27 December 2012

Kiwis must move banks to support NZ

“New Zealanders should make their New Year’s resolution this year to move all their bank accounts over to Kiwibank, or one of the other wholly owned New Zealand banks” said Democrats for Social Credit Leader Stephnie de Ruyter.

“New Year is the ideal time for Kiwis to display a bit of patriotism, and get themselves out of the clutches of the overseas owned banks.

“The big four Aussie owned banks dragged NZ $ 3.5 billion in profit out of the back pockets of Kiwis in the past year and transferred it to their Australian owners – creating a significant boost to the Australian economy.

“Those profits were the best they had made for a number of years, and were made at a time the New Zealand economy was continuing its slide into depression.

“Had even half that profit gone instead to Kiwibank, through New Zealanders having moved their accounts last year, dividends to the Government would have meant borrowing could have been significantly reduced, and the interest on that borrowing would not be a future drain on Kiwi incomes.

“If the Government had any backbone it would instruct Kiwibank to marginally lower their lending rates and slightly increase their deposit rates as an incentive for people to make the switch.

“This in turn would provide some real competition for the Aussie banks and benefit all New Zealanders through better borrowing and deposit rates.

“More money in people’s pockets would further boost the New Zealand economy.

“It’s time Kiwis stopped propping up the Aussie economy and supported their own instead by switching their accounts this New Year.”


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines



Labour: Little Announces New Shadow Cabinet

“Labour had an impressive intake of fresh faces after last year’s election and newest MPs have now had a year to show what they’re made of. This reshuffle rewards hard work and continues my drive to renew our Caucus line up." More>>


Because Reasons: Someone Reckons David Seymour Is Politician Of The Year

Trans Tasman's 11th annual Roll Call has thrown a curve ball this year, ignoring the likes of John Key, Bill English, and Winston Peters to pick its politician of the year from the ranks of the new generation. More>>


Whaling: NZ Deeply Disappointed By Japan's Decision

“New Zealand is strongly opposed to whaling in the Southern Ocean. We call on Japan to take heed of the 2014 International Court of Justice decision and international scientific advice concerning their whaling activities.” More>>


Relevant Consents Gained: Government Unveils RMA Reform Package

The government has formally hauled down the flag on its attempts to alter the balance of environmental and economic priorities in the Resource Management Act, unveiling a 180-page Resource Legislation Amendment Bill containing reforms that have been largely endorsed by most political parties. More>>


Closing Schools And Such: Interim Redcliffs Decision Announced

“While the school’s board has argued that circumstances that could give rise to potential disruption are extremely unlikely, advice from technical experts has shown these concerns cannot be ruled out." More>>


Jane Kelsey: High Court Can’t Make Groser Provide TPPA Information Faster

‘This week we went back to court to challenge Trade Minister Groser’s stalling tactics over the release of information on the Trans-Pacific Partnership Agreement negotiations, following a High Court order that he reconsider the Official Information Act request I made last January’, said University of Auckland law professor Jane Kelsey, first applicant in the case. More>>

Werewolf 58: No Climate For Change

The last time the global community tried to take collective action on climate change the world’s leaders finally came to agree that every not-too-onerous effort should be made to hold global warming to 2°C above the pre-industrial average. At Paris, all 150 participant countries nations will have put forward their pledges... On the information available, New Zealand's is the second weakest contribution of any nation in the developed world. More>>


Lambton Quay Shutdown: Object Was Made To Look Like Bomb

Police cordoned off part of Lambton Quay Wednesday afternoon, saying that a suspicious package had been found. Buildings were evacuated and buses were detoured. The army’s explosive ordnance disposal unit was brought to the Quay. More>>


Public Sector Still Shrinking: Record Low Number Of 'Backroom Bureaucrats'

Ongoing restraint in the public sector and a focus on better frontline services has seen a further reduction in the number of core Government employees, State Services Minister Paula Bennett says. More>>


Get More From Scoop



More RSS  RSS News AlertsNews Alerts
Search Scoop  
Powered by Vodafone
NZ independent news