Peters Winston: Questions for Oral Answer — Questions to MinistersText is incorporated into the Bound VolumePeters Winston: Questions for Oral Answer — Questions to Ministers[Sitting date: 19 June 2014. Volume:699;Page:18716. Text is incorporated into the Bound Volume.]3.Rt Hon WINSTON PETERS (Leader—NZ First)to the Minister of Commerce: Has he received any reports on anti-competitive behaviour in the banking sector?Hon CRAIG FOSS (Minister of Commerce):I am not aware of receiving any specific reports but if the member has examples of anti-competitive behaviour in the banking sector these should be directed to and taken to the Commerce Commission.Rt Hon Winston Peters: Does he think it appropriate for a bank to simply terminate a company’s accounts with that bank without giving any reason whatsoever for doing so; if not why not as the Minister?Hon CRAIG FOSS: In those circumstances the organisation concerned has a number of remedies. It could go to the bank. It could go to the Banking Ombudsman or to some other disputes resolution service. If something uncompetitive was happening then the organisation should take its complaint to the Commerce Commission.Rt Hon Winston Peters: Should a company called IMEX Ltd which provides remittance services in New Zealand Australia and the Pacific Islands have cause for concern about anti-competitive behaviour when one of its direct competitors namely Westpac with whom IMEX banks writes to it terminating its accounts without providing any reason for doing so?Hon CRAIG FOSS: I just repeat my previous answer. Those issues are between that organisation and its bank whoever that was and regardless of who that bank is that bank has courses to remedy or make complaint about those issues that the member raises.Rt Hon Winston Peters: If it became apparent that Westpac had been engaging in anti-competitive banking behaviour would he as the responsible Minister and on behalf of his Government support making another bank such as Kiwibank the Government’s bank rather than allow this to go on with the Government’s support?Hon CRAIG FOSS: The member is confused. He does not understand the Commerce Act. The question was primarily about anti-competitive behaviour. The Commerce Act looks after that. The Commerce Commission looks after those particular issues. So if the member has issues around that—Rt Hon Winston Peters: I raise a point of order Mr Speaker.Hon CRAIG FOSS: —he should go to the Commerce Commission.Mr SPEAKER: Order! I have a point of order.Rt Hon Winston Peters: Rather than take that insult I asked in particular given that he is the Minister responsible in terms of giving advice to the Government whether the Government would keep its account with Westpac. That is the question I want answered. Surely that is what I referred to.Mr SPEAKER: I have a little bit of sympathy for the member. The question has been answered. I think it has been addressed but I will allow the member an additional supplementary question.Rt Hon Winston Peters: Seeing that where the Government’s account is could become an issue for the Government—it is currently with Westpac—and if it was found that Westpac was engaging in anti-competitive behaviour would he then recommend that the Government move its account to a bank such as Kiwibank?Hon CRAIG FOSS: I have no responsibility for whomever the Government uses for its banking arrangements.