July 14, 2015
Government blamed for Ruatoria bank exit
New Zealand First says Westpac’s closure of its Ruatoria branch is a sign of the Government’s crony capitalism.
Leader Winston Peters says the government should use its contract with the bank to ensure towns like Ruatoria are not abandoned.
He says Westpac’s consumer banking division is headed by former National Party minister Simon Power, but it’s clear neither National nor its Sydney bankers care about provincial New Zealand.
Mr Peters says having a physical bank is essential for provincial economic development, because not having one makes it hard for other businesses to function.
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