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

 

New Kiwi research questions Government’s loan shark decision


The Government's decision to not cap the interest rate loan sharks can charge is under further scrutiny following the release of a new report.

The Borrin Foundation-funded report - Working Towards a Fairer Consumer Credit Market - is authored by Commercial Law expert and Victoria University Academic Victoria Stace. It finds overwhelming evidence of a need for an interest rate cap in the new law.

FinCap CEO Tim Barnett says Stace’s work needs to be taken onboard by decision makers. “Predatory lending is taking $120 million out of low-income households every year, this research, along with earlier research by BERL shows that the new law won’t make a big difference to that unless it has an interest rate cap added to it.

“This new body of research offers the Government the opportunity for an evidence-based decision to make their proposed law much more effective.

“For a Government concerned about stopping child poverty, adding an interest rate cap should be an easy decision to make. This change is backed by a big coalition of frontline organisations, it’s supported by substantial research, and it’s in line with international practice.”

A copy of the report is available here
A copy of the earlier BERL report is available here

FinCap is the umbrella organisation supporting 200 financial capability and budgeting services in New Zealand. The current coalition of support for an interest rate cap includes: Age Concern, Child Action Poverty Group, Christian Budgeting New Zealand, Christians Against Poverty, Citizens Advice Bureau NZ, Community Law Aotearoa, Family Works, FinCap, Good Shepherd NZ, Iwi Chairs Forum, Ngā Tangata Microfinance, NZ Council of Christian Social Services, The NZ Council of Trade Unions, and the Salvation Army.

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Mediaworks: Three to be sold or closed

MediaWorks has today announced that it intends to sell MediaWorks TV as well as its Flower Street property which includes its television head office and studios.

The intention is for MediaWorks to sell the television side of the business while retaining ownership of radio and QMS. The Flower Street property will also be put up for sale with a lease back option for a buyer to continue to operate television from that location.

MediaWorks Chairman Jack Matthews said that MediaWorks is committed to continuing to grow its business in New Zealand while recognising that free-to-air television operates in a challenging environment. More>>

 
 

Could Do Better: Post-Sroubek Review Of Deportation Info

Ms Tremain acknowledges that the review highlighted some aspects of the process that can be improved and makes five main recommendations to strengthen the existing processes for preparing files for decision-makers. Those recommendations are: More>>

ALSO:

Gordon Campbell: On A New Book On The Leaky Homes Scandal

We all know that journalism is short of cash and under pressure from the speed, brevity and clickbait pressures of the 24/7 news cycle… but hey, given the right subject and a sufficiently stubborn journalist, it can still surpass most of the works of the academic historians... More>>

Regulation: Review Finds NZTA Road Safety Failings

The independent review, carried out by consultant agency MartinJenkins, lists at least 10 reasons for the failures including the agency being focused on customer service at the expense of its policing functions. More>>

ALSO:

Rod Carr: Climate Change Commission Chair-Designate Announced

Climate Change Minister James Shaw has today announced the appointment of Dr Rod Carr as Chair-designate for the Climate Change Commission. More>>

ALSO:

Compliance Complaints: 'Putting Right' Holidays Act Underpayment In Health

The Government is putting right a decade’s worth of underpayment to nurses, doctors and other health workers, says Health Minister Dr David Clark. More>>

ALSO:

IPCA: Disasterous Police Pursuit, Excessive Use Of Dogs

At no stage did Police follow the correct procedure for the commencement of a pursuit... A Police dog handler used his dog to help with the arrest of two of the young people. One suffered injuries resulting in his hospitalisation, and the Authority found that the use of the dog was an excessive use of force. More>>

ALSO:

‘Hard Place To Be Happy’: Report On Youth Residential Care

Children’s Commissioner Andrew Becroft says the report, A Hard Place to be Happy, contains important challenges from children and young people, aged 9 to 17, about their experiences in care and protection residences. “I found this report extremely difficult to read, and I think most New Zealanders would too.” More>>

Africa And Middle East Refugees: 'Family Link' Restriction Removed

The founder of the Double the Quota campaign has applauded the coalition government for Friday’s announcement that a discriminatory policy would be removed. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels