New Zealand government guarantees deposits

Egypt News.Net
Sunday 12th October, 2008

The New Zealand Government has followed Australia in guaranteeing all bank deposits for the next two years.

All banks, credit unions, building societies and finance companies which accept deposits will be covered by the scheme, which Prime Minister Helen Clark has said should assure New Zealanders their bank deposits are safe.

With less than four weeks until the election, Ms Clark has outlined a detailed spending plan designed to get the economy through the current crisis.

The plan includes building projects and spending on infrastructure.

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