Ummmm – what about ALL the Kiwis who have been screwed over by the banks?

Govt to spark banking inquiry, with a focus on rural services

Finance Minister Nicola Willis has requested an inquiry into banking competition, focusing on rural banking.

It comes as parliamentarians — including the Prime Minister — descend on Fieldays in Waikato.

Willis said promoting robust competition in the sector was “vital” to rebuilding the economy.

“New Zealanders deserve a banking sector that is as competitive as possible. Banking services play an important role in our communities and in the economy. Kiwis rely on access to lending when they make big financial decisions, like buying their first home or opening a business.”

She said in pursuit of that objective, she today wrote to the chairpeople of the Finance and Expenditure, and Primary Production select committees, requesting a select committee inquiry into banking competition.

“I have asked that the Finance and Expenditure Committee lead the inquiry, in conjunction with the Primary Production Committee, which will focus on rural banking.”

This Government is so partisan they can’t help but expose their bias every time they open their mouths!

Why focus on rural banking? These  fucking banks are making billion dollar profits by Australian Banks who use NZ as a monopoly rental!

If we were serious about rural banking we would demand more local branches and investigate how the banks forced debt for dairy intensification onto farmers and would only lend for dairy dairy dairy!

The manner our Farmers have been locked into debt for dairy intensification is the biggest financial scam of the last 20 years, but beyond their concerns are the concerns every Kiwi has in a rigged banking industry!

The Australian Banks make more here than they do in Australia because they price gouge us and are pimps fuelling the property speculation!

Asking if Bank profits are ‘excessive’ misses the point – with 24 000 on emergency housing wait lists, 600 000 needing food banks each month & underfunded health, education & welfare social infrastructure collapsing, Bank profits are obscene!

Windfall tax those rich pricks!

Bernard Hickey has argued, “We could have gotten $200 billion in extra tax revenues if only there had been a fair tax system which meant that capital gains were taxed at the same rate as every other type of income.”

In a liberal progressive democracy, it doesn’t matter what role you play in the complex super structure of our society and economy.

It doesn’t matter of you are a garbage collector, a dr, a nurse, a drain layer, teacher or tradie – if you all stopped doing your jobs the system can’t work.

Everyone deserves to share the collective harvest of civil society with public services and policies focused on the public good enshrined in the intrinsic civil liberties each individual has.

Wealthy individuals who become mega rich thanks to the landscape generated by those values are required to pay more back into the system they have benefited from beyond the bare necessity of ruthless accountancy practices.

These rich pricks have designed the system for themselves, ‘you can’t tax unrealised capital gains’ the Right scream, like bullshit we can’t!

Council rates are based on valuation and you can borrow against that capital gain.

If it means the mega rich have to sell a mansion or two to pay the tax bill, so fucking be it!

There are 14 Billionaires in NZ + 3118 ultra-high net worth individuals, let’s start with them, then the Banks, then the Property Speculators, the Climate Change polluters and big industry.

Making these levels of extreme profit by the Banks right before the looming recession of late stage capitalism is an outrage!

We need a banking inquiry that goes to the heart of the dominance of the 4 Australian Banks and the need to make KiwiBank our economic sovereignty ballpark against Australian banking dominance.