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Speaker 1: It was always coming because it's part of the coalition deal,

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Speaker 1: of course. But the Willis letter to a couple of

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Speaker 1: select committees sets up. Of all the inquiries and market studies,

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Speaker 1: we've had probably the most interesting investigation yet banks and

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Speaker 1: whether we are getting a decent deal. Is their enough competition?

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Speaker 1: The rural community is screaming at the moment over their behavior.

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Speaker 1: There seems a very fair weather social license issued. There

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Speaker 1: are the Reserve Bank and commercial banks are at each other.

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Speaker 1: Observers of the retail operators look on with interest that

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Speaker 1: the margins charged here versus the margins charged in Australia,

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Speaker 1: remembering of course they're the same banks. So a lot

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Speaker 1: to look into. Like all the other market studies though,

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Speaker 1: whether petrol or supermarkets or building supplies. Looking into stuff

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Speaker 1: as one thing, working out what to do is another

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Speaker 1: thing entirely. What if it's found the Reserve Bank really

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Speaker 1: is a problem. They're independent of the government. What does

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Speaker 1: the government do? Kiwibank is supposed to be a disruptor,

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Speaker 1: they're not. How do you do anything about that? If

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Speaker 1: a farmer has not helped in a way they might

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Speaker 1: have wanted. And the committee finds banks withdrawing from the

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Speaker 1: rural sector, What actually do you do about that? On

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Speaker 1: the flip side, banks a success tesful and we like

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Speaker 1: and want that. The stability of banks is critical to

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Speaker 1: an economy and in that we've been fortunate. How much

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Speaker 1: has government policy through COVID messed with banks and lending

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Speaker 1: in the economy? Are we getting to the DTIs the olvrs,

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Speaker 1: the treatment of investors, the flow on effect into housing

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Speaker 1: and rentals and first home buyers and access to money.

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Speaker 1: This in some way or another, when you think about it,

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Speaker 1: actually touches each and every single one of us. As

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Speaker 1: always with big business, people will go into a you

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Speaker 1: know this with a preconceived notion banks the thieves or

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Speaker 1: bullies or ripoff merchants. The Reserve Bank is overbearing. But

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Speaker 1: but given we seem rightly or wrongly to be obsessed

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Speaker 1: with inquiries, here goes another one. The trick is not

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Speaker 1: to have it end up like the others where next

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Speaker 1: to nothing happens. For more from the Mic Asking Breakfast,

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Speaker 1: listen live to news talks that'd be from six am weekdays,

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Speaker 1: or follow the podcast on iHeartRadio.