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Speaker 1: Together do for clan. Here's something to celebrate as something

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Speaker 1: a little bit different for once, For once, we've got

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Speaker 1: a Commus Commission study that isn't going absolutely nowhere. Nikola

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Speaker 1: Willis has today said she is going to do what

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Speaker 1: the Commus Commission has recommended in the banking study out today,

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Speaker 1: and she is going to do everything it's recommended, all

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Speaker 1: fourteen recommendations. Now this is a little surprise, isn't it,

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Speaker 1: Because I think we've got very used to these studies

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Speaker 1: coming out and pretty much nothing of substance being done.

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Speaker 1: We had the petrol study, were at the supermarket study,

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Speaker 1: where at the construction industry study, and so you know,

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Speaker 1: I was a little cynical about the banking study, but

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Speaker 1: I was wrong. And what's even more surprising, I suppose,

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Speaker 1: is that it's a center right government who are the

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Speaker 1: ones often accused of cozying up to big business, who

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Speaker 1: are actually the ones prepared to do the bulls thing here.

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Speaker 1: So doesn't that make a nice change for once. Now

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Speaker 1: as to whether it's actually going to make a difference,

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Speaker 1: the jury is out on this one. I mean recommendation

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Speaker 1: number one capitalizing kiwibank I love the idea of doing this.

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Speaker 1: I think it's going to probably improve the band. I

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Speaker 1: think it will absolutely give Kewi investors another productive asset

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Speaker 1: to put their money into, and Kiwibank deserves basically to

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Speaker 1: be given a chance to fly a bit more. And

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Speaker 1: for those reasons alone, I'm stoked that Nikolawillis is committed

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Speaker 1: to doing this, but I'm not convinced it's going to

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Speaker 1: do what they wanted to do. I'm not convinced it's

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Speaker 1: going to be the disruptor and add the competition that's needed.

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Speaker 1: Too many people now who know a lot more about

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Speaker 1: economics and finance than I do, have said it's not

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Speaker 1: going to do it. It just still will not be

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Speaker 1: big enough. Second recommendation is the open banking thing. Nikolai

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Speaker 1: Willis again is committed to doing that, but again I

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Speaker 1: haven't seen any evidence that this is the game changer.

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Speaker 1: It's been sold as, if anything, especially out of Australia

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Speaker 1: by the way they've done this, and if anything there,

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Speaker 1: it's just been really expensive. It's cost about one point

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Speaker 1: five billion dollars without apparently doing all that much for customers. Now,

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Speaker 1: those are just two or fourteen recommendations, and look, who knows,

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Speaker 1: maybe in combination, all of them put together will make

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Speaker 1: a difference to competition. But as I say, jury still out,

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Speaker 1: but still you can't fault the government for the fact

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Speaker 1: that they're prepared to do what's recommended, and even if

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Speaker 1: it doesn't affect competition as much as we like, at

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Speaker 1: least we're getting on with doing something about Kiwibank, which

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Speaker 1: frankly has been a long time coming. For more from

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Speaker 1: Hither Duplessy Allen Drive, listen live to news talks it'd

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Speaker 1: be from four pm weekdays, or follow the podcast on iHeartRadio.