Lockwood Smith

Wellington, July 28 NZPA - Opposition MPs are upset because Speaker Lockwood Smith won't let them use a select committee room in Parliament for their inquiry into bank interest rates.

Labour, the Greens and the Progressive Party are holding the inquiry into the difference between bank interest rates and the official cash rate set by the Reserve Bank.

They decided to hold it after government MPs used their majority on the finance and expenditure select committee to block an inquiry.

Labour's finance spokesman, David Cunliffe, said today Dr Smith had told him an opposition caucus room would be a more suitable venue.

"Using one party's caucus room gives the impression that the event involves the internal political process of one party, rather than a genuine multi-party process," Mr Cunliffe said.

He has asked Dr Smith to reconsider.