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


Iwi leaders join coalition for loan shark reform

Iwi leaders join coalition for loan shark reform as BERL report shows Government’s answer is too weak

FinCap has welcomed the decision by the Iwi Chairs Forum to join with nine other national organisations in pressing the Government to strengthen its proposed loan shark law.

The call comes as FinCap releases a new report by BERL that highlights the need for the government to add an interest rate cap to the legislation.

FinCap CE Tim Barnett says the breadth of support for strong law shows how important it is the Government delivers. "The government needs to listen to the people who see the damage predatory lending does. Every major front-line organisation has joined the call for an interest rate cap, the work that has been done by BERL shows it is needed, it’s time for the government to put one in place.

"The work by BERL shows that the Government’s plan to limit the total cost of loans is a good thing, but it will have little effect if it is not accompanied by a cap on the maximum interest rate that can be charged.

"Government’s claim their total cost limit means there’s no need for an interest rate cap is like claiming you don’t need the left gumboot because you already have the right one on.

"An interest rate cap is the difference between facing the hardship of paying 200% of a loan back in a matter of weeks or having time to pay it back sustainably over a longer time. Without a cap borrowers and their children will continue to have to choose between basics like food and electricity and debt repayment.

"The front-line services want it, the research shows its needed. Now the Government must act."


The full newly released BERL report is available for download here.

An FAQ on the issue is available here.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Ellen Rykers on The Dig: Community Conservation – The Solution To The Biodiversity Crisis?

There are backyard trapping networks doing their bit for Predator Free 2050, farmers planting native trees along their waterways, and iwi protecting whenua rāhui. There are 62 biodiversity sanctuaries across 56,000 hectares, with around two-thirds of them community-led. There are citizen scientists counting birds in their backyards and landowners conserving habitat in 3,500 Queen Elizabeth II National Trust covenants.

It’s increasingly clear that a government agency alone cannot combat the biodiversity crisis successfully. These grass-roots initiatives are a growing resource in the conservation toolbox. More>>

Closing This Weekend! Have Your Say On The Issues For NZ's New Biodiversity Strategy

Scoop and PEP invite you to help decide how we should protect and restore our biodiversity over the next 50 years using Scoop’s online engagement platform, HiveMind. HAVE YOUR SAY HERE>>

Biodiversity HiveMind Preliminary Progress Report
Open data report summarising preliminary findings of the Biodiversity HiveMind. Read Progress Report Here>>


PM In Japan: Jacinda Ardern’s Remarks Following Abe Summit

Today we discussed a wide range of topics. Broadly the themes were: a deeper, high-value trade and investment relationship, greater cooperation in the Pacific; and strengthening our security partnership. More>>


Replacing All But Chair: Twyford Appoints Five NZTA Board Members

Transport Minister Phil Twyford today announced the appointment of five new members to the NZ Transport Agency Board... There remain two vacancies on the NZTA Board which will be filled in due course. More>>


Climate Change: Adaptation And Risk Assessment Framework Released

“We are already experiencing the effects of a changing climate such as coastal inundation and increasingly frequent and severe droughts, floods, fires and storms. This framework is an acknowledgement that we must start adapting”, James Shaw said today. More>>


Ihumātao: Mana Whenua Reach Decision On Land

Māori King Tūheitia says mana whenua have finally reached consensus over what to do with Ihumātao - they want it back. More>>


PM To Japan, New York: Ardern To Meet Trump During UN Trip

“I’m looking forward to discussing a wide range of international and regional issues with President Trump, including our cooperation in the Pacific and the trade relationship between our countries." More>>

PM's Post-Cab: "A Way Forward"

At Monday's post-cabinet press conference, Prime Minister Jacinda Ardern announced a number of actions in response to the Labour Party's mishandling of sexual assault complaints. More>>


Gordon Campbell: On Allegations Of Left Wing Media Bias

“Left wing bias” accusations date back at least to the mid 1990s... The charge of left wing bias was ridiculous then, and is ridiculous now. More>>

Next Wave Of Reforms: Gun Registration And Licensing Changes Announced

“The Bill includes a register to track firearms and new offences and penalties that can be applied extraterritorially for illegal manufacture, trafficking, and for falsifying, removing, or altering markings – which are a new requirement under the Firearms Protocol.” More>>





InfoPages News Channels