NZ First Applauds Phase Two of Reserve Bank Act Review

Published: Mon 24 Jun 2019 06:35 PM
New Zealand First Applauds Outcome of Phase Two of Reserve Bank Act Review
New Zealand First is pleased to see the Coalition Government’s strong move towards introducing a deposit protection regime as a result of Phase two of the Reserve Bank Act review, announced by Finance Minister Grant Robertson today.
“A Review of the Reserve Bank Act was a key component of the Coalition Agreement and has been a longstanding policy of New Zealand First,” New Zealand First Deputy Leader and Associate Finance Spokesperson Fletcher Tabuteau said.
“As part of advocating long and hard for a review of the Reserve Bank Act, New Zealand First has long campaigned on the issue of depositor protection, as we believe the banking system must work for the benefit of all New Zealanders.”
“The proposed phase two changes ensure that 90% of deposits in New Zealand will be protected if a bank fails. This means the average Kiwi who has been scrimping and saving will have the confidence that their nest egg is safe should the worst happen.
“The Coalition Government has already delivered on Phase one of the review by updating New Zealand’s monetary policy settings to require the Reserve Bank to focus on employment outcomes as well as price stability. So it is great to see today the continuation of planned improvements under Phase two of the review,” Fletcher Tabuteau said.

Next in New Zealand politics

Kaikōura $10.88 million boost in tourism & business
By: New Zealand Government
Plans to protect the future of whitebaiting announced
By: New Zealand Government
New resource for schools on climate change
By: New Zealand Government
Regulations pave way for quality medicinal cannabis
By: New Zealand Government
New Year Honours: Sporting greats among knights and dames
Gordon Campbell on a White Island inquiry
By: Gordon Campbell
$10.98 million of PGF funding announced
By: Kaikoura District Council
Proposed whitebait rules are pitiful, won’t save native fish
By: Forest And Bird
Whitebait rules needed to save fish from extinction
By: Forest And Bird
Fisheries management helps prevent overfishing - Reaction
By: Science Media Centre
Whitebaiters set to lose thousands on stands
By: New Zealand National Party
Government attempting to ban whitebaiting
By: New Zealand National Party
2019 NZ's fourth warmest year on record - Expert Reaction
By: Science Media Centre
Simplistic climate change lessons counterproductive
By: Federated Farmers
Climate change curriculum
By: Taxpayers' Union
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media