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James Shaw MP on Tuesday, May 9, 2017 - 10:10

National should follow today’s advice from the International Monetary Fund (IMF) and implement deposit insurance to protect New Zealanders’ savings, the Green Party said.

The IMF’s Financial Sector Assessment Programme recommended today that introducing deposit insurance is “the best option” to strengthen the Reserve Bank’s crisis resolution framework.

The government’s legislation to respond to the scandal over foreign trusts, as revealed in the Panama papers, was agreed yesterday. This is, as we have come to expect, too little and too late.