Launch of the Finsec Banking petition

Wigram MP Jim Anderton is backing Finsec's petition to keep banking jobs in New Zealand while banks are getting a government guarantee.

"Banks in New Zealand have been making enormous profits by mistreating customers and exploiting staff," Jim Anderton said.

"In the current global financial situation - the overseas owned banks in New Zealand are some of the most profitable in the world. But they are still firing staff.

"It's time for them to give something back. It' time for them to support New Zealand as good corporate citizens.

"The taxpayer is giving the banks a crucial government guarantee. The government is right to do so. The banks need the guarantee to keep functioning. In a crisis, New Zealanders should be prepared to help each other out. And we should be prepared to use the power of government to make our economy stronger.

"But there is a quid pro quo. It is perfectly reasonable to ask that in exchange for getting support from New Zealanders, the banks should, in return, support New Zealand in general and their own staff in particular."

ENDS

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