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Jim Fronts Up With The Answers

What Jim Anderton wants to know is whether John Carter supports having kiwi bank branches in his electorate, and will he guarantee that if he ever gets back into government those branches won't be closed.

The Deputy Prime Minister confirmed today that the kiwi bank will charge lower fees than existing banks charge now.

National MP John Carter challenged Jim Anderton this afternoon to 'front up and tell local communities how much the kiwi bank will cost them'.

"It will cost them less than they are paying now and the service will be better," Jim Anderton said.

"The existing banks have to cover the entire costs of their network from banking alone, and they made a profit of $1600 million last year. The kiwi bank will only have to cover the marginal costs of providing banking – including any security upgrades where necessary. When the overseas-owned banks are making such healthy profits, it suggests there is room in the market for a people's bank too.

"The other question John Carter asked is which communities will have branches. The answer is that communities in Mr Carter's electorate will have a much better chance of getting a branch much faster if John Carter helps them instead of opposing the bank for petty political reasons.

"Obviously those electorates where the local MP is enthusiastic will have a much better chance of getting a bank. I've fronted up with the answers. Now it's up to John Carter: Does he support having kiwi bank branches in his electorate, and will he guarantee that if he ever gets back into government those branches won't be closed?"

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