North & South magazine - cost of living
#76
Re: North & South magazine - cost of living
Yes it is legal for the Nz banks to haircut your savings. Just ring up your local bank and ask them. ANZ told me that it would happen overnight without warning. If you have a term deposit or savings these are not guaranteed. And your bank will not pretend that they are if you call them and ask. Or read a book by Ian Wishart called "daylight Robbery 2012 edition" and he gives his findings on this. The Aussie owned banks will not bail the NZ banks either.
#78
BE Enthusiast
Joined: Jan 2009
Location: Whangaparaoa
Posts: 458
Re: North & South magazine - cost of living
I said exactly this on here a few weeks back and was rightly (I think, on reflection) advised that the lower octane is a red herring. At the end of the day, because of the better climate (generally) NZ cars do not need the higher octane. Ultimately, it costs you less to fill up here (using a rough exchange rate of 2/1) which pragmatically speaking is all that really counts in making a price comparison...
#79
BE Forum Addict
Joined: Feb 2005
Location: Back in NZ & loving it - living in Orewa
Posts: 1,183
Re: North & South magazine - cost of living
Yes it is legal for the Nz banks to haircut your savings. Just ring up your local bank and ask them. ANZ told me that it would happen overnight without warning. If you have a term deposit or savings these are not guaranteed. And your bank will not pretend that they are if you call them and ask. Or read a book by Ian Wishart called "daylight Robbery 2012 edition" and he gives his findings on this. The Aussie owned banks will not bail the NZ banks either.
If NZ govt wanted a slice of bank deposits - effectively a wealth or capital tax - this would have to be introduced as law through parliament. I couldn't see it getting through parliament with the MMR system we have in place - again, IMHO
If you have any facts that contradict the above, please post. Along with examples of stuff that has doubled in price since 2008