Taxpayers' Union Launches Campaign Against Dirty Deal Between Big Banks, ANZ, ASB, And The National Party
The campaign has been launched with National Party's annual conference attendees being delivered love letters from the Big Banks to recognise their special relationship and bank bailout.
In the coming days, a digital advertising, billboard, and grassroots mobilisation campaign demanding that Finance Minister Nicola Willis and Minister of Consumer Affairs Scott Simpson drop the retrospective clauses from the Bill will be launched.
Taxpayers' Union Executive Director Jordan Williams said:
'This is a disgraceful case of retrospective lawmaking that undermines the rule of law and destroys trust in New Zealand as a stable place to do business."
"Last month the NZ Herald reported that the Bill is a result of backroom discussions between the Government and the Aussie-owned big banks which excluded the consumer-side parties of the very class action litigation the Bill is intended to extinguish."
"Across the Tasman, the Aussie banks were hauled over the coals for misconduct and dishonest practises. But in Wellington, they are doing deals with the Beehive to be bailed out and 'protected' from consumer class actions. It's perverting the course of justice for tens of thousands."
"Not only does the Credit Contracts and Consumer Finance Amendment Bill run roughshod over the rule of law, it is specifically designed to bail out the powerful at the expense of ordinary Kiwis.'
'Tens of thousands of Kiwis are part of a live class action over alleged unfair fees. Instead of letting the courts do their job, Nicola Willis and Scott Simpson are stepping in to shut it down with the stroke of a pen. That's not justice — that's Parliament playing defence for its mates.'
The Union says the Bill makes a mockery of the Government's own rhetoric about restoring New Zealand's reputation as a safe, rules-based place to invest and do business.
'The same Ministers pushing the so-called Regulatory Standards Bill – which rightly warns against retrospective legislation – are now ramming through a bill that does exactly that. That's usually called hypocrisy.'
'When governments change the rules mid-litigation to protect the well connected, it sends a chilling message to investors, consumers, and taxpayers alike: the law in New Zealand is only as stable as the political connections of the people you're up against.'
Williams concluded:
'This campaign isn't just focused at the Government. It's to hold to account and expose the disgraceful behaviour of ANZ and ASB banks to undermine their own customers' rights. This is about not just honesty and integrity and customer disclosures, but New Zealanders having the ability to enforce consumer protection law against the big end of town.'
'Either the Government walks the talk on stable, principled lawmaking, or they admit they're no better than the last lot. Kiwis deserve better than this grubby stitch-up.'
The social media, digital and advertising campaign launches next week along with some more creative plans to ensure this bill gets the public scrutiny it deserves.
'Watch this space.'
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