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Copeland should put his vote where his mouth is: Hide

Act's finance spokesman reckons Don Brash should chair Parliament's finance and expenditure select committee and that that committee should then investigate the Cullen fund.

Sunday, March 16th 2003, 8:40PM

by Rodney Hide

ACT Finance spokesman Rodney Hide has called on United Future's finance spokesman Gordon Copeland to put his vote where his mouth is.

"Copeland is complaining that the giant Cullen Super Fund is to be invested offshore. He says it should be invested here in New Zealand.

"But United Future voted for the Cullen Fund. The party's election manifesto makes it clear that United Future supports the legislation.

And the legislation makes it quite plain how the fund is to be invested.

"United Future holds the balance of power. The Government needs their vote. They can hardly complain when the government does something that they don't like. To vote one way and talk another is dishonest politics.

"I have a suggestion for Mr Copeland. He should move that National's Dr Don Brash replace Labour's Clayton Cosgrove as chair of the Finance and Expenditure (select committee). He should then move that the FEC inquire into the operation of the Cullen Fund.

"Dr Don Brash as former governor of the Reserve Bank is easily the most qualified MP on the committee and should chair the committee on his merits. The committee then could get on and do its business with a very fair and internationally respected chairman.

"The Cullen Fund is to suck in $2 billion a year. It's huge. It will dwarf our own share market. The FEC is the proper body to inquire into this huge fund. Dr Brash is the appropriate chairman.

"It's over to Mr Copeland. He has to decide whether his role in Parliament is just to do what Dr Cullen wants, or whether his job is to his best for the country," Hide says.

This is a press release from the Act party.

Rodney Hide is an Act MP.

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Lender Flt 1yr 2yr 3yr
AIA - Back My Build 4.94 - - -
AIA - Go Home Loans 7.49 ▼5.79 ▼5.49 ▼5.59
ANZ 7.39 6.39 6.19 6.19
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 5.79 5.59 5.59
ASB Bank 7.39 ▼5.79 ▼5.49 ▼5.59
ASB Better Homes Top Up - - - 1.00
Avanti Finance ▼7.90 - - -
Basecorp Finance ▼8.35 - - -
BNZ - Classic - 5.99 5.69 5.69
Lender Flt 1yr 2yr 3yr
BNZ - Mortgage One 7.54 - - -
BNZ - Rapid Repay 7.54 - - -
BNZ - Std 7.44 ▼5.79 ▼5.59 5.69
BNZ - TotalMoney 7.54 - - -
CFML 321 Loans 6.20 - - -
CFML Home Loans 6.45 - - -
CFML Prime Loans 8.25 - - -
CFML Standard Loans 9.20 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 5.69 - -
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Owner Occ 6.95 5.79 5.59 5.69
Co-operative Bank - Standard 6.95 6.29 6.09 6.19
Credit Union Auckland 7.70 - - -
First Credit Union Special - ▼5.99 ▼5.89 -
First Credit Union Standard ▼7.69 ▼6.69 ▼6.39 -
Heartland Bank - Online 6.99 ▼5.49 ▼5.39 ▼5.45
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.60 6.65 6.40 -
ICBC 7.49 ▼5.79 ▼5.59 5.59
Kainga Ora 8.39 7.05 6.59 6.49
Kainga Ora - First Home Buyer Special - - - -
Lender Flt 1yr 2yr 3yr
Kiwibank 7.25 6.89 6.59 6.49
Kiwibank - Offset 7.25 - - -
Kiwibank Special 7.25 5.99 5.69 5.69
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 7.94 ▼5.75 ▼5.99 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
SBS Bank 7.49 6.95 6.29 6.29
SBS Bank Special - 6.15 5.69 5.69
SBS Construction lending for FHB - - - -
Lender Flt 1yr 2yr 3yr
SBS FirstHome Combo 4.94 5.15 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.75 - - -
TSB Bank 8.19 6.49 ▼6.39 ▼6.39
TSB Special 7.39 5.69 ▼5.59 ▼5.59
Unity 7.64 ▼5.79 ▼5.55 -
Unity First Home Buyer special - 5.49 - -
Wairarapa Building Society ▼7.70 ▼5.95 ▼5.75 -
Westpac 7.39 6.39 6.09 6.19
Westpac Choices Everyday 7.49 - - -
Westpac Offset 7.39 - - -
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Westpac Special - 5.79 5.49 5.59
Median 7.49 5.97 5.75 5.69

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