ISSUE
Friday, August 15, 2025
Volume 16 . Issue 72
The National government cares little for those less well off.
This government waffles on in Parliament about doing good but its cuts here, there and everywhere, to many organisations that work hard as the gap between rich and poor grows.
At Cabinet Club meetings, where people pay to meet a Minister, you can bet the small talk is never about the plight of the less well off. Ministers fill their diary with those who can pay cash for access, or wealthy foreigners who want to change our laws, and do.
This week the government steadfastly refused to put a limit on interest rates charged by unscrupulous loan sharks, displaying its uncaring attitude.
Thousands of people who borrow would no longer be facing massive interest rates and debt-ridden lives if the government has taken such a simple step.
Why is there no strong regulation on this sort of money lender whose interest rates vary, but average around 700% a year?
The government had its chance but instead it frowned a little and hit the loan sharks with a wet lettuce – in the form of a law that throws thousands of words into the fine print of contracts that no one will ever read. At the end of the day the law is toothless.
An amendment was raised by concerned MPs but it got nowhere.
Minister of Revenue Peter Dunne, the government’s little helper, ably assisted National, after doing a U-turn on a previous promise to support interest rate caps, and voted against the amendment.
New Zealand First voted against the law, the only party to do so. We want strong regulation to limit interest rates. Unscrupulous money lenders are everywhere.
Loan sharks operate out of seedy shops in poorer suburbs, and they also work from websites, enticing people with talk of easy money, and suggesting a poor credit history is no barrier to borrowing.
They sell the idea that it’s okay to spend now, even if you have no money. Credit is also given out easily to shoppers from trucks selling goods, with the line that there is no need to wait, just buy now, and pay later.
This government has ignored the misery caused by loan sharks and abandoned many New Zealand families to a terrible fate. They could have regulated to protect vulnerable people.
ends
The National government cares little for those less well off. This government waffles on in Parliament about doing good but its cuts here, there and everywhere, to many organisations that work hard as the gap between rich and poor grows. At Cabinet Club meetings, where people pay to meet a...
The National government cares little for those less well off.
This government waffles on in Parliament about doing good but its cuts here, there and everywhere, to many organisations that work hard as the gap between rich and poor grows.
At Cabinet Club meetings, where people pay to meet a Minister, you can bet the small talk is never about the plight of the less well off. Ministers fill their diary with those who can pay cash for access, or wealthy foreigners who want to change our laws, and do.
This week the government steadfastly refused to put a limit on interest rates charged by unscrupulous loan sharks, displaying its uncaring attitude.
Thousands of people who borrow would no longer be facing massive interest rates and debt-ridden lives if the government has taken such a simple step.
Why is there no strong regulation on this sort of money lender whose interest rates vary, but average around 700% a year?
The government had its chance but instead it frowned a little and hit the loan sharks with a wet lettuce – in the form of a law that throws thousands of words into the fine print of contracts that no one will ever read. At the end of the day the law is toothless.
An amendment was raised by concerned MPs but it got nowhere.
Minister of Revenue Peter Dunne, the government’s little helper, ably assisted National, after doing a U-turn on a previous promise to support interest rate caps, and voted against the amendment.
New Zealand First voted against the law, the only party to do so. We want strong regulation to limit interest rates. Unscrupulous money lenders are everywhere.
Loan sharks operate out of seedy shops in poorer suburbs, and they also work from websites, enticing people with talk of easy money, and suggesting a poor credit history is no barrier to borrowing.
They sell the idea that it’s okay to spend now, even if you have no money. Credit is also given out easily to shoppers from trucks selling goods, with the line that there is no need to wait, just buy now, and pay later.
This government has ignored the misery caused by loan sharks and abandoned many New Zealand families to a terrible fate. They could have regulated to protect vulnerable people.
ends
Leave a Comment