NZ Politics

The Reserve Bank says that from 1 July, banks will only be able to lend about 20 percent of their new lending to owner-occupier borrowers with a debt-to-income ratio of more than six. That means, if your household earns a combined $100,000, your loan will be limited to $600,000.

Banks will only be able to lend 20 percent of lending to investors with a DTI of more than seven.

The rules won't apply to Kainga Ora loans, new builds or refinances.

At the same time, the bank will loosen the loan-to-value ratio (LVR) restrictions so that banks can lend 20 percent of their lending to owner-occupiers with deposits of less than 20 percent, from 15 percent at the moment, and 5 percent of lending can be done to property investors with equity or deposits of less than 30 percent, compared to 35 percent at present,

I am saying this unironically.

WAKE UP SHEEPLE!

Your tax dollars are going to John Key folks. This is how the privatisation of state housing is going.

A bill designed to give consumers more control over their data will be introduced into Parliament tomorrow, the minister of commerce and consumer affairs says.

Andrew Bayly says the Consumer and Product Data Bill will allow consumers to share their data, which will in turn allow banks, insurance, power and telecommunication companies to compete with each other.

Consumers would be able to compare products in real time, manage accounts across different providers simultaneously, and switch between providers seamlessly.

He said it would include penalties of up to $5 million for misuse by companies, and up to $1m for an individual who fraudulently used it.

The Ministry of Business, Innovation and Employment said it was expected to be introduced at the end of last year when the draft was released in June.

The legislation will be applied gradually across the economy on a sector-by-sector basis, with banking the first sector to be designated.

Scams have been increasing in number and complexity with consumers here losing an estimated $200m a year.

Consumer NZ has said it would immediately prevent some scams, and had been in the United Kingdom for five years now.

Green co-leader Chlöe Swarbrick has used her first “State of the Planet” speech to accuse the coalition Government of privileging lobbyists and the wealthy, at the expense of workers’ health and the environment.

Surely all these people losing decent paying jobs will have no impact on the economy right? Definitely not a recession right?

The important thing to keep in mind is that there is a significant proportion of the population that wants this and is going to vote for right wing parties in order to stop the "trans agenda"

Jones is a controversial force in the new Government, with his nakedly pro-mining stance criticised for being anti-environment. His meetings with industry heavyweights, including those in the commercial fishing sector, have led to accusations of conflicts of interest.

In one instance, Jones, also the Fisheries Minister, asked officials to develop a Cabinet paper on overhauling cameras on boats, after a request from a fishing boss who is one of his biggest campaign donors. Under the new Government, New Zealand has backed out of a proposal to restrict seamount trawling in the South Pacific.