Labour supports a joint inquiry into rural banking, highlighting financial pressure on farmers and calling for improved access to affordable finance and fair interest rates.
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How the news corpus has covered this same topic over the last 12 weeks. 12 articles from RNZ, Stuff, NZ Herald, ODT, 1News, Newsroom and The Spinoff. Click through to the press view for the full panel.
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Yeah, it's a tough one. I mean, I've I don't feel that old, but I've been in Auckland long enough to have seen two or three uh big cycles where you can just physically see the cranes, you know, on the skyline as you're going into work, and then there isn't cranes. And and we've had um probably like and I I think to be fair, the property developers are handling this downturn or initially handle this downturn better than they used to in the past. They used to just bowl into these things, and then they get hit with something like the GFC, and we saw property companies going over and that flowing through to the finances, so that financiers so sort of investment companies and things all started going over, and and um this time around, I think uh, you know, people could see you know, it was about initially it was about interest rates going up. We knew we were having an engineered downturn, so a lot of property developers did pull back. I think I know Occam's been on record and they do a lot of high-profile buildings around Central Auckland. They've um pulled back on new developments and and sort of almost gone into near hybrid nation, apart from a couple of big sort of partnership projects they're involved in. And that's you know, is it's you just and then you imagine that the the property developers are thinking, well, how long is this gonna last? It's cheaper now withn landers cheaper and things to start getting things moving, and then we'll I have my apartments ready to sell in 18 months to years down the track when when it's going again. Um, some of it is just uh, you know, I think uh we're seeing those developers learn from experience, but as it as it goes on longer and longer, um cash flow becomes the problem. Um you can you can regulate it really uh heavily, but then you risk because it's it's property development is a high risk game, and if you make it too difficult, people won't want to do it. And so uh, you know, unless the government's coming in to do it all and they don't have a great track record.
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potential driver of spending revival
**August Electronic Card Transactions** \\ \\ **12 September 2024**\\ \\ Electronic card transactions show a slight increase of 0.2% when comparing August and July 2024 seasonally adjusted data.high charges hurting rural farming profitability
Release: Labour supports inquiry into rural bankingSocial-media signal on the same topic, drawn from the social lens. Engagement is likes + 2×shares + 3×replies, the same weighting used across the digest cards. View on /social →
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