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Mark Cameron is urging the rural sector to make their voices heard.
Farmers are being urged to make submissions to the parliamentary inquiry into banking competition, now underway.
Public submissions are now being accepted by the finance and expenditure committee.
The terms of reference 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.
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,” he told Rural News. “Be part of the process.”
Cameron says the public submission period runs for six weeks.
On rural banking the inquiry will:
The push for an inquiry into rural banking practices has been led by Federated Farmers, which made a submission to the primary production select committee in May this year. The committee recommended an inquiry.
Farmers claim bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking.
Feds’ regular banking surveys are also show that farmer satisfaction with banks is at a record low, and the number of farmers coming under undue pressure is at a record high.
Submissions close before midnight, Wednesday September 25.
For more information, visit https://www.parliament.nz/en/pb/sc/make-a-submission/document/54SCFIN_SCF_FC430602-F4C3-4B04-957D-08DCB036CF74/inquiry-into-banking-competition#RelatedAnchor
Primary production select committee chair and ACT MP Mark Cameron recently contributed to the Resource Management (Freshwater and Other Matters) Amendment Bill - Second Reading in Parliament. Here are excerpts from his speech:
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