Greens welcome protections for Kiwis’ savings

The Green Party is welcoming the Government’s announcement that bank deposits up to $100,000 will be protected under new rules.

“Deposit guarantees are overdue. We welcome the Government’s move to protect the savings of ordinary New Zealanders if something goes wrong in the banking system,” Green Party finance spokesperson Julie Anne Genter said.

“The Green Party has been advocating for deposit protections for years so it’s great to see the Government confirming savings up to $100,000 will be protected, rather than the lower level originally proposed.

“Australia, the EU, Canada, and the US have had deposit protections for a long time. Until now, New Zealand has been the only developed country in the world where people can lose their savings if a bank makes a bad decision, and we’re pleased to see that will change.

“The financial system should serve the best interests of New Zealanders, and deposit protections are an important step towards making that true.”

Volunteer

The Greens are proud to be driven by passionate people like you. Today we need your help to take action on the biggest issues facing New Zealand.

Action

Save Auckland's Climate Budget

Sign the petition to stop Mayor Wayne Brown's proposal for dangerous cuts to climate and environmental programmes that protect us from extreme weat...

Action

No New Mines 2023

Action

Expand Voting

Now more than ever, young people in Aotearoa are impacted by Government decisions, and they deserve to have a say. We are calling on all Members of...

Action

End Intensive Winter Grazing

Sign the petition to Labour Ministers, to move faster in bringing regulations into force and end intensive winter grazing.

Action

Trains for Climate

Add your name to our open letter urging the Minister for Finance Grant Robertson to save our passenger trains between Wellington, the Wairarapa and...

Action

Healthy Oceans 2022

Join our Healthy Oceans Crew to help us keep the health and protection of our oceans high on the Labour Government’s political agenda.

Action

It's time: A Ministry for Rainbow Communities

Join our call asking the Prime Minister to establish a Ministry for Rainbow Communities that can champion Rainbow issues.

Action

No new mines on conservation land

Sign the open letter asking Labour Ministers to stick to their promise of banning new mining projects on conservation land.

Action

Allow community ownership of our buses

Public transport is an essential service and helps to tackle the climate crisis by reducing our carbon emissions. But there are barriers to communi...

Action

Local Events

We have activists across Aotearoa / New Zealand who are working hard to build a brighter future for our kids and grandkids. This page lists upcomin...

Latest Finance Announcements

Story

Tax the banks

Instead of creating an appeal fund and one-off lotto draw, the Labour Government could tax the billions of dollars banks have made in unearned, exc...

Urgent action needed to support families

The tools exist to help families with surging costs – and as costs continue to rise it is more urgent than ever that we use them, the Green Party ...

BPS constraints risk impacting low income people the most

The Government will constrain itself unnecessarily at Budget 2023 unless it changes the tax system to raise revenue from the wealthiest few which c...

Case for excess profit tax on banks clearer than ever

The Government should adopt an excess profits tax and use any revenue raised to help people make ends meet, following the rise in the Official Cash...

Tax excess profits, don’t leave it to the good will of large corporations

The Green Party is once again calling on the Government to introduce an excess profits tax and use the money to support people, rather than relying...

RBNZ report strengthens case for excess profit tax and more income support

A drop in household income from rising bank interest rates further demonstrates the need for an excess profits tax, the Green Party says.