Time for Govt to get serious on household debt

The Green Party is calling on the Government to intervene following a new report on rising household debt from FinCap.

“Every family deserves to live with dignity, no household should be forced to go into debt to survive,” says the Green Party’s spokesperson for Commerce and Consumer Affairs, Ricardo Menéndez March.

“The Voices report released today shows that the Government needs to put an end to debt collectors exploiting families in vulnerable situations and do more for those struggling.

“We support the calls to regulate debt collectors, including greedy behaviour by Buy Now Pay Later companies. We also agree that the Government needs to address the core issue by lifting income levels so families can survive without falling into debt or poverty.

“The Government has chosen to ignore rising household debt and worsening poverty. Instead of supporting people in need, Christopher Luxon has dished out billions of dollars worth of tax cuts to landlords and tobacco companies.

“Predatory companies that profit from lending to families living in poverty should not be allowed to operate in our country. We know more families are being declined for assistance at Work and Income, which is leading them right into the hands of loan sharks.

“A Green Government will regulate debt collectors and lift income levels above the poverty line so that families aren’t drowning in debt and can live in dignity,” says Ricardo Menéndez March.

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