Tuesday, 03 September 2024 14:25

Heat on banks

Written by  Milking It

OPINION: Milking It understands the parliamentary inquiry into banking is already having an impact.

Reports are coming in of some South Island farmers being offered loans with interest rates of 5.7% and 5.8%. Just for context, most farmers are on interest rates over 8%.

Whether the banks are feeling the heat or it's just a public relations exercise remains to be seen.

Federated Farmers says the banks have a long way to go before they earn back the trust of farmers.

A Federated Farmers survey shows that farmers' satisfaction with their banks has dropped to its lowest levels since their surveys began in May 2015. Six years ago, around 80% of farmers were satisfied with their bank, but that number has since plummeted to just 51%.

More like this

CODC Rejects Plan to Spread Sludge on Lauder Farmland

Central Otago District Council (CODC) has voted against a plan to spread treated sewage sludge from Cromwell and Alexandra on farmland near Lauder, a decision Federated Farmers says reflects strong opposition from rural residents.

CODC Sludge-to-Lauder Plan Slammed by Federated Farmers

Federated Farmers has called on Central Otago District Council (CODC) to drop or vote down a plan to truck sludge from Alexandra and Cromwell to farmland near Lauder, warning it would compound an "outrageous" situation created by a separate council's decision weeks earlier.

Federated Farmers Welcomes RMA Replacement Passing

Federated Farmers says new legislation replacing the Resource Management Act will cut red tape, unlock investment and help grow New Zealand's export-led economy, after the Planning Bill and Natural Environment Bill passed their third reading in Parliament yesterday.

Featured

National

Machinery & Products

» Latest Print Issues Online

Milking It

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter