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.”

ENDS



© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

PARLIAMENT TODAY:

Gordon Campbell: On Where Greece Goes From Here

As one candid British commentator tried to come to grips with why his confident prediction of a “Yes” vote in Greece has failed so resoundingly, he said that he’d made that prediction from his own viewpoint – as someone with savings to protect. But most Greek people, he suddenly realised, didn’t have that concern anymore after five years of austerity. Duh. More>>

ALSO:

Post-Cabinet Presser: EQC Reform, Greece & Surplus Stimulation

Prime Minister John key discussed proposals for reform of the EQC act and the Greek economic crisis at a press conference in Wellington. More>>

ALSO:

GCSB/NZSIS: Intelligence And Security Reviewers Seek Public’s Views

“We are seeking public submissions to help us determine what issues to focus on during the review,” says Sir Michael Cullen. “We want to hear your views on what the GCSB and NZSIS should be doing to protect New Zealand and how they should do it.” More>>

Education: Schools Funded To Trial Innovative Approaches

Education Minister Hekia Parata has announced the successful applicants for a new $10 million fund to encourage innovative teaching practices. “I’m delighted with the quality of the 39 projects that have won funding in the first round of the Teacher-led Innovation Fund worth a total of about $2.6 million,” says Ms Parata. More>>

ALSO:

Generation Zero: Skypath Granted Resource Consent

Generation Zero is delighted and relieved that the ‘Skypath’ walking and cycling addition to the Harbour Bridge has been granted resource consent. More>>

ALSO:

Housing: Two New Auckland Special Housing Areas

Two new greenfield Special Housing Areas (SHAs) that will provide up to 1800 new homes in Auckland have been announced today by Building and Housing Minister Dr Nick Smith and Mayor Len Brown. More>>

ALSO:

Royals: The Prince Of Wales And Duchess Of Cornwall To Visit

Prime Minister John Key welcomes today’s announcement that the Prince of Wales and The Duchess of Cornwall will visit New Zealand in November. This will be the second joint visit for Their Royal Highnesses to New Zealand. More>>

ALSO:

Tracey Martin Replaced: Ron Mark Is New New Zealand First Deputy Leader

Clayton Mitchell was the successful candidate for the Associate Whip position. Winston Peters was re-elected as Leader by the Caucus. Ron Mark was elected as the Deputy Leader with effect from 10am, Friday, 3rd July. More>>

ALSO:

Rebuild Rebrand: "Regenerate Christchurch" To Replace CERA

The regeneration of Christchurch will be the city’s focus for the next five years as local leadership progressively takes control of the rebuild, Canterbury Earthquake Recovery Minister Gerry Brownlee says. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news