1 00:00:00,040 --> 00:00:02,840 Speaker 1: Jamie McKay Hosts of the Countries with me right now, Jamie, Hello. 2 00:00:03,880 --> 00:00:06,280 Speaker 2: Hello here, that just before I get stuck into the banks, 3 00:00:06,720 --> 00:00:09,080 Speaker 2: I might just get stuck into your family who actually 4 00:00:09,119 --> 00:00:11,680 Speaker 2: honors the bets and your family because Barry's gone to 5 00:00:11,720 --> 00:00:13,360 Speaker 2: the ground over my Trump. 6 00:00:13,480 --> 00:00:15,480 Speaker 1: Nothing's to do with me, nothing to do with me. 7 00:00:15,720 --> 00:00:18,360 Speaker 1: You know, he's got he's deranged, you know that about Trump? 8 00:00:18,680 --> 00:00:22,720 Speaker 1: Like he's he is so sad. He doesn't admit this, 9 00:00:22,840 --> 00:00:24,720 Speaker 1: but he's so sad that Carmel has lost because he 10 00:00:24,720 --> 00:00:26,960 Speaker 1: can't believe anybody can can vote for Trump. 11 00:00:27,000 --> 00:00:27,080 Speaker 2: That. 12 00:00:27,120 --> 00:00:28,960 Speaker 1: I don't know, Jamie. It might take him a while 13 00:00:29,000 --> 00:00:31,639 Speaker 1: to come around to the idea. First he has to 14 00:00:31,680 --> 00:00:34,720 Speaker 1: go through the process of the denial, then the acceptance, 15 00:00:34,840 --> 00:00:36,760 Speaker 1: then the anger. Then he will pay you your bet. 16 00:00:39,280 --> 00:00:41,720 Speaker 2: I might be a seventy eight year old man by then. 17 00:00:42,440 --> 00:00:45,239 Speaker 2: Tell him to hurry up a bet to bet, especially 18 00:00:45,280 --> 00:00:46,240 Speaker 2: with family too. 19 00:00:46,320 --> 00:00:48,639 Speaker 1: Right now, what is going on with Whispac and as 20 00:00:48,680 --> 00:00:50,480 Speaker 1: it turns out, now B and Z as well going 21 00:00:50,520 --> 00:00:52,479 Speaker 1: hard on our dear if farmers not on the Aussies. 22 00:00:53,120 --> 00:00:56,040 Speaker 2: Oh don't don't start me. I heard you just before 23 00:00:56,040 --> 00:00:59,160 Speaker 2: the six o'clock news saying who makes the banks the 24 00:00:59,200 --> 00:01:02,240 Speaker 2: carbon police. And that's exactly what Federated Farmers are saying. 25 00:01:02,240 --> 00:01:07,200 Speaker 2: And good on them. They're Banking Inquiry spokesperson Richard McIntyre, 26 00:01:07,560 --> 00:01:09,320 Speaker 2: I think you might ad them on the show yesterday 27 00:01:09,360 --> 00:01:13,040 Speaker 2: that you is leading the charge on this and doing 28 00:01:13,080 --> 00:01:15,280 Speaker 2: a good job. So you know, as you said, they're 29 00:01:15,280 --> 00:01:20,840 Speaker 2: asking these zealandairy farmers to meet higher emissions reductions targets 30 00:01:20,880 --> 00:01:28,360 Speaker 2: than ossie farmers. Totally unfair, totally unfair. Absolutely The latest 31 00:01:28,360 --> 00:01:31,640 Speaker 2: banking surveys incidentally, have a showed that only one and 32 00:01:31,680 --> 00:01:37,360 Speaker 2: eleven farmers supported banks setting climate change targets. As Richard 33 00:01:37,400 --> 00:01:40,920 Speaker 2: McIntire said, we've already have emission targets that have been 34 00:01:40,959 --> 00:01:44,119 Speaker 2: set by the government. They are who should be setting it. 35 00:01:44,440 --> 00:01:46,880 Speaker 2: And plus to add to that, you've got your milk 36 00:01:46,880 --> 00:01:49,600 Speaker 2: and meat companies dipping in as well, so the bank 37 00:01:49,640 --> 00:01:51,760 Speaker 2: should stay out of it. And what I would say, 38 00:01:51,840 --> 00:01:55,160 Speaker 2: even to those meat and milk companies, Heather, is if 39 00:01:55,160 --> 00:02:00,440 Speaker 2: you want lower emissions farmers at farming and farmers reward behavior, 40 00:02:01,040 --> 00:02:04,920 Speaker 2: pay a premium. Where is this wonderful premium that we're 41 00:02:04,920 --> 00:02:07,880 Speaker 2: getting off shore for our lower missions produce At the 42 00:02:07,880 --> 00:02:10,680 Speaker 2: moment there isn't one. That's why they're not paying a premium. 43 00:02:10,720 --> 00:02:13,760 Speaker 2: When they do, farmers will change their behavior or change 44 00:02:13,760 --> 00:02:16,919 Speaker 2: their farming practice to suit. But I mean, we've now 45 00:02:16,960 --> 00:02:20,200 Speaker 2: got Trump and Barry's mate and he's going to drill, 46 00:02:20,280 --> 00:02:22,960 Speaker 2: baby drill. So to what end are we saving the planet? 47 00:02:23,200 --> 00:02:25,040 Speaker 1: Oh, Jamie, I mean there is an argument here that 48 00:02:25,120 --> 00:02:30,400 Speaker 1: the Australian owned banks are actually giving Australian dairy farmers 49 00:02:30,520 --> 00:02:32,480 Speaker 1: a competitive advantage over our farmers. 50 00:02:33,880 --> 00:02:35,960 Speaker 2: Oh, it would seem odd. It would seem odd to 51 00:02:36,000 --> 00:02:38,880 Speaker 2: me that one. I don't know. Look, I'm just dead 52 00:02:38,919 --> 00:02:43,119 Speaker 2: against the banks poking their nose at all. I don't think. Look, 53 00:02:43,160 --> 00:02:46,320 Speaker 2: they would be better off, much better off, Heather, and 54 00:02:46,400 --> 00:02:49,400 Speaker 2: hopefully the Banking Inquiry shows this. To spend their time 55 00:02:49,960 --> 00:02:54,160 Speaker 2: going through their books and looking at their risk margins 56 00:02:54,160 --> 00:02:59,040 Speaker 2: they've placed upon farming clients and especially some of the usurers. 57 00:02:59,240 --> 00:03:02,760 Speaker 2: Is that the right word are usury? Yeah? Okay, rates 58 00:03:02,800 --> 00:03:06,840 Speaker 2: they're applying on overdrafts to farmers. Look, you can talk 59 00:03:06,840 --> 00:03:10,639 Speaker 2: about security and farms having higher risks than residential lending, 60 00:03:10,840 --> 00:03:12,200 Speaker 2: but I put it to you, if you've got a 61 00:03:12,240 --> 00:03:15,560 Speaker 2: farm with say fifty percent equity, remember these same banks 62 00:03:15,840 --> 00:03:21,160 Speaker 2: are lending on residential properties with eighty sometimes ninety percent borrowing, 63 00:03:21,240 --> 00:03:23,959 Speaker 2: ten percent, ten or twenty percent equity. You can't tell 64 00:03:23,960 --> 00:03:26,000 Speaker 2: me that if you're lending to a farm with fifty 65 00:03:26,040 --> 00:03:29,160 Speaker 2: percent equity or better, that if it all turned to custard, 66 00:03:29,400 --> 00:03:31,760 Speaker 2: you can't sell them out and get your money back 67 00:03:32,160 --> 00:03:35,880 Speaker 2: in a reasonably short period of time. Look, there are 68 00:03:35,960 --> 00:03:38,119 Speaker 2: safe as houses to use the bad pun. 69 00:03:38,080 --> 00:03:39,960 Speaker 1: Now, it's a fair point to make. Jamie, thank you 70 00:03:40,000 --> 00:03:42,720 Speaker 1: so much as always, Jamie McKay, host of the Country. 71 00:03:43,320 --> 00:03:46,560 Speaker 2: For more from Hither Duplessy Allen Drave, listen Lived and 72 00:03:46,600 --> 00:03:49,640 Speaker 2: news talks. They'd be from four pm weekdays, or follow 73 00:03:49,680 --> 00:03:51,440 Speaker 2: the podcast on iHeartRadio.