Submission on the Finance and Expenditure Committee’s Inquiry into banking competition

Written By Mia Cohen

Rural Women New Zealand (RWNZ) welcomes the opportunity to submit on the Finance and Expenditure Committee’s Inquiry into banking competition.

We thank the Committee for specifically including a broad range of rural banking issues in its Terms of Reference. This recognises the importance of rural New Zealanders, not only to the economy but to the wellbeing and vibrancy of our provincial communities.

  • The food and fibre sector make up 10.5 percent of GDP, is responsible for $54.3 billion in export revenue and employs 13.1 percent of New Zealand’s total workforce.

  • Around 16 percent of New Zealanders live in rural areas.

  • RWNZ is concerned that the interests of rural communities are currently being overlooked by banks when it comes to the closure and removal of banking facilities, access to cash and in-person banking services, rural community digital exclusion and connectivity issues, and the state of competition and lending in rural banking.

Mia Cohen
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