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NZ First candidate Mark Patterson (right) says his party would go after banks and supermarkets.
Agriculture Minister Damien O’Connor says the Government didn’t hold an inquiry into rural banking because the sector didn’t ask for one.
Speaking at the Rural Issues Debate last night in Hamilton, O’Connor backed Federated Farmers’ call for the next government to hold an independent inquiry into rural banking.
But he criticised Feds for not standing up to the banks earlier.
“I say, good on you Federated Farmers for stepping up for farmers.
“But this hasn’t been done before: Federated Farmers have never stood up and taken on the banks, as they should have.”
O’Connor says the farming sector is wary of talking on the banks because they all have mortgages.
“It’s very hard to take them on if you are beholden to them and they can be quite vindictive and vicious.”
In June, the Government announced that the Commerce Commission is to look into competition in the banking sector for personal banking services. Finance Minister Grant Robertson said then that record high profits had raised concerns the industry was not working well for New Zealanders.
O’Connor says the Government would have included rural banking into that inquiry had Federated Farmers asked for it.
“But if the sector isn’t saying there’s a problem, why would the Government overreach.”
O’Connor blasted National for planning to remove debt mediation legislation put in place by Labour.
But National ag spokesman Todd McClay claimed the Commerce Commission inquiry on the eve of the election was “to divert attention from high interest rates faced by homeowners and consumers”.
“If you were serious, this would have been done much earlier or you would have joined National when we called for an inquiry into banking in Parliament.”
NZ First candidate Mark Patterson says his party would go after banks and supermarkets.
Patterson says there should be an inquiry into rural banking.
OPINION: Recent media commentary from Southland Federated Farmers has raised concerns among our rural communities, particularly around Environment Southland’s approach to winter grazing inspections and nitrogen reporting. But let’s be clear, much of what’s been said simply doesn’t reflect reality.
OPINION: Environment Canterbury's (ECan) decision recently to declare a so-called “nitrate emergency” is laughable.
A shameless political stunt is how Federated Farmers is describing the Canterbury Regional Council decision to declare “a nitrate emergency” on the back of its latest annual groundwater quality survey.
Federated Farmers say Environment Canterbury's decision to declare a 'nitrate emergency' is a shameless political stunt that won't help anyone.
Farmers want the Government to scrap controversial freshwater rules that "put river spirits and ideology ahead of practical water use", says Federated Farmers board member Mark Hooper.
Many farmers around the country are taking advantage of the high dairy payout to get maximum production out of their cows.
In 2015, the signing of a joint venture between St Peter's School, Cambridge, and Lincoln University saw the start of an exciting new chapter for Owl Farm as the first demonstration dairy farm in the North Island. Ten years on, the joint venture is still going strong.
Sheep milk processor Maui Milk is on track to record average ewe production of 500 litres by 2030, says outgoing chief executive Greg Hamill.
Parliamentary Commissioner for the Environment Simon Upton is calling for cross-party consensus on the country's overarching environmental goals.
Changes to New Zealand’s postal service has left rural communities disappointed.
Alliance is urging its farmer-shareholders to have their say on the proposed $250 million strategic investment partnership with Dawn Meats Group.
