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Aussie regulator ASIC has
investigated school banking programs. It found these programs claim to help children develop long term savings habits; however, providers were unable to demonstrate that in and of themselves they improve savings behaviour. They also found payments to schools for implementing school banking programs incentivise schools to encourage greater participation in the programs. Another finding is that young children are vulnerable consumers and are exposed to sophisticated advertising and marketing tactics by school banking program providers. And finally, ASIC said school banking program providers failed to disclose that a strategic objective of these programs is customer acquisition.
$16b construction sector hard-hit: 500 building projects impacted due to Covid
15 Dec, 2020 04:33 AM
4 minutes to read
$16b sector one of New Zealand s largest employers. Photo / Greg Bowker
Around 500 New Zealand building projects have been impacted due to Covid this year, Building and Construction Minister Poto Williams has been told. In one of the many incoming ministerial briefing papers out today, the Ministry of Business, Innovation and Employment told Williams of the toll the pandemic took on the sector. While it is still too early to precisely estimate the impact of the Covid-19 on the building and construction sector, research found that approximately 200 known construction projects were impacted by Covid at the start of April with this figure rising to near 500 known projects in August, the paper said.