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Federated Farmers banking spokesperson Richard McIntyre.
Farmers are welcoming the broad scope of a parliamentary inquiry into banking competition.
The terms of reference announced last week include looking at the price of banking services, with a particular focus on business and rural lending products and the return on capital from business, rural and residential mortgage lending.
Federated Farmers banking spokesperson Richard McIntyre says the broad scope of the inquiry will hit the mark for farmers and rural communities.
“We’re pleased to see the Government announce a wide-ranging inquiry that will leave the banks with nowhere to hide,” McIntyre says.
“Farmers have been asking serious questions about the levels of competition, profitability and transparency in rural lending for a long time now – and it looks like they’re about to get answers.
“This inquiry is well placed to shine a bright light on parts of our rural banking system that, until now, have been allowed to operate in the shadows.”
The chair of primary production select committee, Mark Cameron, is urging the rural sector to make their voices heard.
“Anyone on the back of a rural loan, whether you are a horticulture, sheep and beef, arable or dairy farmer, should make sure their voices are heard – be part of the process,” he told Dairy News.
The public submission period runs for six weeks.
OPINION: Federated Farmers has launched a new campaign, swapping ‘The Twelve Days of Christmas’ for ‘The Twelve Pests of Christmas’ to highlight the most troublesome farm pests – a serious issue that needs some urgent attention from the Beehive.
Farmers are welcoming the announcement of two new bills to replace the under-fire Resource Management Act.
The Government has announced it will immediately roll over all resource consents for two years, with legislation expected to pass under urgency as early as this week.
Federated Farmers has launched a new campaign, swapping "The Twelve Days of Christmas" for "The Twelve Pests of Christmas" in an effort to highlight the most troublesome farm pests.
The biggest reform of local government in more than 35 years is underway.
Farmer confidence has taken a slight dip according to the final Rabobank rural confidence survey for the year.
Former Agriculture Minister and Otaki farmer Nathan Guy has been appointed New Zealand’s Special Agricultural Trade Envoy (SATE).
Alliance Group has commissioned a new heat pump system at its Mataura processing plant in Southland.
Fonterra has slashed another 50c off its milk price forecast as global milk flows shows no sign of easing.
Meat processors are hopeful that the additional 15% tariff on lamb exports to the US will also come off.
Fears of a serious early drought in Hawke’s Bay have been allayed – for the moment at least.
President Donald Trump’s decision to impose tariffs on imports into the US is doing good things for global trade, according…
Seen a giant cheese roll rolling along Southland’s roads?
