Interest.co.nz submission to Parliamentary Inquiry Sept2

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  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled. NZ$200k home loan 10% = NZ$384 week 6% = NZ$230week = NZ$150/week NZ$100k savings NZ$135/week = NZ$60 week
  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled.
  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled.
  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled.
  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled.
  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled.
  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled.
  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled.
  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled.
  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled.
  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled.
  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled.
  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled.
  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled.
  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled.
  • Interest.co.nz submission to Parliamentary Inquiry Sept2

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

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