Debt Collection: Working Towards a Fairer Consumer Credit Market: A Study of the Issues in New Zealand’s Consumer Credit Market and Proposals for Reform: Research Paper for a Final Report to the Borrin Foundation

2019 ◽  
Author(s):  
Victoria Stace ◽  
Emma Croskery ◽  
Melissa Harward ◽  
Arielle Tracey ◽  
Emily Chan
Keyword(s):  
Consumer Credit ◽  
Credit Market ◽  
Research Paper ◽  
Final Report ◽  
Debt Collection

Consumer Credit on the Eve of Affluence

2018 ◽  
pp. 20-47
Author(s):  
Stuart Aveyard ◽  
Paul Corthorn ◽  
Sean O’Connell
Keyword(s):  
Consumer Protection ◽  
Free Market ◽  
Demand Management ◽  
Consumer Credit ◽  
Credit Market ◽  
Balance Of Payments ◽  
Consumer Durables ◽  
Keynesian Theory ◽  
Election Victory

The chapter begins with an examination of debates around consumer protection and hire purchase in the 1930s. It explains the emergence and significance of the Hire Purchase Act, 1938. It explores radical (but thwarted) Labour plans to reshape important sectors of the consumer credit market during the 1940s. The chapter then explains the influence of Keynesian theory and its role in generating new policy on economic demand management. The Conservative election victory of 1951 owed much to the party’s courtship of voters with free market rhetoric, but this government instigated hire purchase controls to improve the balance of payments and combat inflation. Labour dubbed the measures ‘a very vicious piece of class legislation’. This policy created long-standing disagreement between the Treasury and the Board of Trade (and consumer durables manufacturers) about the damage to UK manufacturing. The chapter outlines developments up until the Radcliffe Committee was tasked to examine the issue.

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