An overseas trip has been cancelled by Finance Minister, Bill English and cabinet has offered a guarantee to all the 20,000 shareholders in South Canterbury Finance that if the firm crumples and goes into receivership, all the money that they have invested will be repaid.

However, the Government’s move into bailing the firm to be made is more of a question mark.

Premier, John Key said that since South Canterbury Finance is a part of the Government’s own insurance plan, the Government would reimburse all the possible money of $60 million to the respective taxpayers.

It is one of the leading finance firms of the nation and its bailout is going to be the foremost by the Government, however Mr. Key is trying to clearly state that SCF is personally responsible for all the trouble.

He thinks that to speak of the truth, the value of South Canterbury and its terrible balance sheet should be accredited to Mr. Hubbard and his admin team, so nowhere, the Government is involved in the blunder making.

SCF is a part of Government’s Retail Deposit Guarantee Scheme, which explains that if the firm collapses, the Government will be liable to pay to the investors.