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NZ will benefit from shake-up in govt banking - Greens

NZ will benefit from shake-up in govt banking - Greens   Friday, 21 June, 2013 - 12:41

Green Party Co-leader Dr Russel Norman welcomes moves to put the government’s banking contract out for tender.

A Treasury and Ministry of Business, Innovation and Employment discussion paper is seeking input on a new ‘All of Government’ approach to banking with a tender document to be issued in September or October this year.

"I’m very pleased that after years of Green Party pressure the government master banking contract will finally be tendered," Dr Norman said.

"Australian-owned Westpac bank has held the contract uncontested for 23 years.

"Tendering out the contract should result in better value for money for the New Zealand public. It should have been done years ago.

"There were 91.5 million transactions under the master contract in the year until June - that shows what a significant contract it was.

"Ideally, our government's banking should eventually be done by a New Zealand bank," Dr Norman said.

"Now that the contract is to be regularly tendered that is a real possibility for the future."

Last modified onMonday, 24 June 2013 06:26

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