Beaumont said: “Kent is often on about bank profits and never talks about the huge direct investment our banks make in New Zealand, which amounts to over $60 billion, to meet the capital requirements that help fund the financial needs of our businesses and households. The return on that investment averages around 11.5% per annum, which is in the middle of the pack compared to other major New Zealand companies. He also ignores the fact that banks make a net contribution to the New Zealand economy once you take into account the billions they collectively pay in tax and running their businesses here, and that they employ around 30,000 New Zealanders.”