National could expand bank market study
The party’s commerce and consumer affairs spokesman Andrew Bayly says if National had ordered the study it would have included business banking.
“That is the one area we are particularly concerned about because a great deal of money has been moved out of the productive sector – farming, business, property development – and into less productive areas of the economy, particularly housing.”
Growth in business lending has been lower than a third of residential mortgage lending, he says.
Reserve Bank data shows while residential mortgage lending from banks has increased from about $60 billion in 2000 to $343b in 2023, bank business lending has risen from about $40b to $120b.
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