Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Govt backs Green initiative on building societies

16 December 2004

Govt backs Green initiative on building societies

The Labour - Progressive Government has supported a Green amendment to the Public Finance (State Sector Management) Bill that will allow Crown entities to bank with building societies.

Green Co-Leader Rod Donald moved the amendment to remove the bank preference clause during the committee stages of the Bill. It was supported by Labour and the Progressives, but opposed by National, NZ First, Act and United Future.

"I'm delighted that local polytechs, universities, hospitals and other Crown entities will now be able to bank with their local building societies," said Mr Donald, the Green Party's Finance Spokesperson.

"For too long foreign-owned trading banks have benefited from bank preference clauses in legislation and building societies have been discriminated against. Changing the Public Finance Act is the first step in removing this bias.

"I can't understand why National, NZ First, Act and United Future are opposed to building societies. These financial institutions are locally owned, member controlled and deserve our support in the face of competition from rapacious foreign-owned trading banks.

"I look forward to organisations such as the Southland Institute of Technology extending their partnerships with local building societies such as SBS by banking with them."

The Green amendments to Section 199 and Schedule 8 of the Public Finance Bill mean that building societies, providing they can satisfy a relevant credit rating test or meet conditions set by the Finance Minister, will now be able to accept deposits from all Crown entities, including health boards and tertiary institutions.

ENDS


© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines


Government: Labour and Greens reach a deal

The Labour Party and the Green Party will have a Cooperation Agreement that will see the Green Party Co-leaders hold ministerial portfolios outside of Cabinet, and areas of cooperation on climate, environment and child and community wellbeing issues. More>>

 


Referendum Preliminary Results: 'Yes' On End-Of-Life, 'No' On Recreational Cannabis

End of Life Choice Referendum The referendum asked the question: 'Do you support the End of Life Choice Act 2019 coming into force?' 65.2% Yes 33.8% No 1.0% Informal VOTES NUMBER OF VOTES RECEIVED PERCENTAGE OF TOTAL VOTES Yes 1,574,645 65.2% ... More>>

ALSO:

Gordon Campbell: On National Being Shafted By Its Own Creation

As it licks its wounds, let’s hope the National Party can still find time to look back with some pride at what it has achieved in Epsom. The Act Party’s nationwide success on Saturday night has been a tribute to National’s foresight, and to its ... More>>

ALSO:

Green Party: 'Fruitful Discussions ... Further Discussions To Have'

The Green Party says there is a negotiation going on with the Labour Party, but there are more discussions to be had. More>>

ALSO:


Border: No Changes To Border Exemptions After Fishing Crew Test Covid-19 Positive

The cases were detected after routine day three testing but the immigration minister and air commodore agree there's no need to change border exemptions. More>>

Election: ParityBOT_NZ Processed Nearly 200,000 Tweets To Find And Fight Online Abuse Over The NZ Election

Auckland, New Zealand: Of the almost 200,000 tweets directed at women candidates that Areto Labs’ proprietary election Twitter bot, ParityBOT_NZ, processed over the New Zealand election period, nearly 4,000 were classified as toxic and triggered ... More>>

Stats NZ: New Report Shows Significant Changes To New Zealand’s Climate

Climate change is already happening in New Zealand and could have a profound impact on future generations of New Zealanders, a new report from the Ministry for the Environment and Stats NZ says. Our atmosphere and climate 2020 , released today, includes analysis ... More>>

ALSO:

Judith Collins: Obese People Must Take Responsibility For 'personal Choices'

National Party leader Judith Collins has described obesity as a weakness and says people should not 'blame systems for personal choices'. More>>

Māori Party: Poll Reveals Tamihere On Cusp Of Historic Māori Movement Election Victory

John Tamihere’s election campaign is on the rise and on track to return the Māori Party to parliament, a new Māori TV poll has revealed. The poll released on 11 October during the seventh and final Māori TV Maori Electoral campaign coverage has Tamihere ... More>>


 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels