You’ll be seeing a bit more of the Banking Inquiry over the next few weeks.
Check out www.bankinquiry.org.nz for some new material you might find interesting: Jim, Russel and I explaining the whys and wherefores, an FAQ page and a page with logistical details. Ads will be running this week as a reminder call for submissions, which close on 31 August.
It’s certainly not too late to have your say, either directly via the website, or by writing to us at: The Parliamentary Banking Inquiry, Room 3.046, Parliament House, Wellington (freepost).
Look forward to hearing from you.
It’s good to see these Inquiries getting some momentum: the tax review, and the Capital Markets Taskforce represent real chances to review settings that have in general struggled to provide the kind of good, confidence building and cost reducing regulatory frames we need. Brian Gaynor has written another wonderful piece in the Herald this week on the taskforce: http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10593814
His previous article on housing and other/ business investment was I think one of the clearest things written on the need to shift investment incentives back from the real estate fpocus currently prevailing: http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10589386&pnum=0
The Brian Gaynor article on housing vs other investment I should have referred to was this one from last Monday:
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10592331
do read it!
Gathers pace huh:
“The big four Australian-owned banks have snubbed the Parliamentary inquiry into their alleged price-gouging, meaning it will sit without input from its main targets.
Labour finance spokesman David Cunliffe said he received four similarly worded thanks-but-no-thanks letters from ANZ-National, Westpac, ASB and BNZ shortly before yesterday’s deadline for submissions.”
So a useless toothless meeting of the opposition. Just as predicted.
This is laughable.