Final   Rabo Plus Financial Confidence Index (Media Pack)
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Final Rabo Plus Financial Confidence Index (Media Pack)

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Final   Rabo Plus Financial Confidence Index (Media Pack) Final Rabo Plus Financial Confidence Index (Media Pack) Presentation Transcript

  • Submission to Multi-Party Inquiry into Banking by interest.co.nz
    Parliamentary Banking Inquiry- Wellington - Sept 2, 2009
  • Why the problem is not bank profiteering. The problem is New Zealand’s structural settings favouring housing investment.
    Parliamentary Banking Inquiry- Wellington - Sept 2, 2009
  • Who are we to say this?
    Parliamentary Banking Inquiry- Wellington - Sept 2, 2009
  • NZers care an awful lot about interest rates
    Parliamentary Banking Inquiry- Wellington - Sept 2, 2009
  • Obviously banks are profiteering…right?
    Parliamentary Banking Inquiry- Wellington - Sept 2, 2009
  • That’s a big gap. They must be creaming it.
    Parliamentary Banking Inquiry- Wellington - Sept 2, 2009
  • Wholesale funding costs are up 100 bps
    Parliamentary Banking Inquiry- Wellington - Sept 2, 2009
  • Local funding costs are up 150 basis points
    Parliamentary Banking Inquiry- Wellington - Sept 2, 2009
  • Bank net interest margins actually fell
    Parliamentary Banking Inquiry- Wellington - Sept 2, 2009
  • And they’ve been falling for a long while
    Parliamentary Banking Inquiry- Wellington - Sept 2, 2009
  • The bias to farm and housing lending worsened in 2009
    Parliamentary Banking Inquiry- Wellington - Sept 2, 2009
  • And the connection is a foreign debt blowout
    Parliamentary Banking Inquiry- Wellington - Sept 2, 2009
  • Who in this room has an LAQC or family trust?
    Parliamentary Banking Inquiry- Wellington - Sept 2, 2009
  • Ever wonder what a loss of sovereignty might look like?
    Parliamentary Banking Inquiry- Wellington - Sept 2, 2009
  • Reserve Bank Governor
    Parliamentary Banking Inquiry- Wellington - Sept 2, 2009
  • Bank regulator
    Parliamentary Banking Inquiry- Wellington - Sept 2, 2009
  • Currency
    Parliamentary Banking Inquiry- Wellington - Sept 2, 2009
  • So what do we do?
    Parliamentary Banking Inquiry- Wellington - Sept 2, 2009
    • Flatter, simpler tax system
    • More productive investment
    • Less property speculation
    • Land tax or Capital Gains Tax
    • GST on mortgages/rents?
    • Use capital adequacy rules
    • Bigger capital ‘top-ups’
  • And give this man a knighthood
    Parliamentary Banking Inquiry- Wellington - Sept 2, 2009
  • Thank you for your time
    Parliamentary Banking Inquiry- Wellington - Sept 2, 2009