![]() |
On Air Now: Mike HoskingTell us what you think: Talkback 0800 80 10 80 |
One in five people with student loans have fallen behind on their payments and the Inland Revenue Department is unable to trace many of them. IRD estimates 120,000 borrowers are in arrears on repayments and official figures indicate the total amount on loan will rise from $9.5 billion to around $15 billion in five years. Revenue Minister Peter Dunne says a large proportion of the loan holders are overseas and it has been very difficult to keep track of their addresses. Prime Minister John Key says the situation is out of hand. "You've now got quite a lot of people who are overseas, in serious default and quite frankly, are virtually tax exiles. They owe so much and the penalties are so high that they can't afford to come back and it's crazy." Mr Key hopes that recent changes allowing online loans payments will help to reduce the problem.
View All NZ LatestWeather conditions against swimmerMike Bodger not launching another attempt to become oldest person to swim Cook Strait after weather conditions prevented success Read MorePrivate ACC info mistakenly sent outACC apologising after report on injuries sent to thousands of businesses by mistake Read MoreFinancial marketsNZX50 3,076; Dow 10,053; NZ$=69.05 USc, 79.09 Aust, 50.29 euro, 61.80 yen, 44.21p; 90 day rate 2.79%; TWI 64.07 Read MoreStumbling block for govt's tax reformMaori Party against GST rise and wants to negotiate; co-leader Tariana Turia says increasing GST will be hard on low income families Read More |
See All Most Recent Stories
NEWS
> Weather conditions against swimmer > Private ACC info mistakenly sent out > Financial markets > Stumbling block for govt's tax reform SPORT > First round exit for Sacha Jones in Thailand > Refs to front at post match media conferences WEATHER > Climate row scientist says he considered suicide See All Today's Most Read Stories
> Urgent - Key signals increase in GST
> Fire Service will cover demolition > Appeal to Asian community in taxi killing > Blogger unveils another suppressed name > Cricket tickets selling fast Read More News on Your Mobile
Read More Live Studio Cam
Read More Subscribe
Useful Links
> Timesaver Traffic Region (use dropdown to change) |
|
||||||||
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
| Terms and Conditions List of Newstalk ZB Frequencies |