Govt shelves bank inquiry – Finsec calls for disclosure on lobbying

The government majority on the Finance and Expenditure Select Committee have blocked a proposed inquiry into banks’ interest rates.

Finsec Campaigns Director Andrew Campbell said the decision lets down bank customers and that the public deserves to know what lobbying the banks undertook to prevent the inquiry.  “As such we are calling on the government, and its agencies, to disclose the number and nature of the discussions they had with the banks about this,” said Campbell.

“New Zealand taxpayers are currently underwriting the banks’ business through the government guarantee schemes whilst the banks continue to make billions. Yet the mere thought of the taxpayer having a look at how they set interest rates is seen as too much. That is a blow to transparency,” said Campbell.

Check out media coverage about the inquiry at the links below:
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10581970
http://www.stuff.co.nz/business/2558725/Govt-under-fire-for-blocking-rates-inquiry
http://www.radionz.co.nz/__data/assets/audio_item/0005/1992623/mnr-20090702-0752-MPs_accused_of_cave-in_after_bank_rates_inquiry_canned-m048.asx

Advertisements

0 Responses to “Govt shelves bank inquiry – Finsec calls for disclosure on lobbying”



  1. Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s




You can contact us at:

0800 FINSEC (0800 346 732)
union@finsec.org.nz
www.finsec.org.nz


Creative Commons License
Join Now 0800 FINSEC

RSS LabourStart – act now to help other workers

  • An error has occurred; the feed is probably down. Try again later.

Finsec Photos

Cathie Lendrum

Carl and Oliver

Westpac North East Valley, Dunedin

Westpac North East Valley, Dunedin

piggybank on leash

More Photos

Archives


%d bloggers like this: