No decision on People's Bank

4:30 PM

Cabinet has further delayed a decision on the People's Bank.

It was widely expected that Prime Minister Helen Clark would announce today whether the concept for the publicly-owned bank will get the go-ahead.

The proposal, the brainchild of Alliance leader Jim Anderton, would see the bank run through the national New Zealand Post network.

Miss Clark says it will be at least another week before anything is made public.

She says there are outstanding issues, but is refusing to elaborate.

Jim Anderton is concerned that any further delays will prevent the bank from meeting its September 2001 start-up date.

- IRN