The top brass at the country’s banks, as well as their regulators, are due to be publicly questioned by politicians about the level of competition in the banking sector.

Finance Minister Nicola Willis has asked Parliament’s Finance and Expenditure Committee to lead an inquiry into competition in the banking sector.

The inquiry will draw on the draft findings of the Commerce Commission’s big market study into retail banking, which is due for completion by August 20.

NZ Herald Wellington business editor Jenee Tibshraeny explains the possible outcomes of this inquiry.

LISTEN ABOVE

The top brass at the country’s banks, as well as their regulators, are due to be publicly questioned by politicians about the level of competition in the banking sector.
Finance Minister Nicola Willis has asked Parliament’s Finance and Expenditure Committee to lead an inquiry into competition in the banking sector.
The inquiry will draw on the draft findings of the Commerce Commission’s big market study into retail banking, which is due for completion by August 20.
NZ Herald Wellington business editor Jenee Tibshraeny explains the possible outcomes of this inquiry.
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Jenee Tibshraeny: NZ Herald Wellington business editor on the proposed inquiry into rural banking sector

It's been inevitable for months now that the Ministry of Education would lose responsibility for building and maintaining schools and at first glance the government's onto a winner with its alternative plan.  

The review into the state of school facilities shows only a third of the almost-500 building projects in the Ministry of education queue have been fully funded and concludes the average cost of a new classroom could rise to $1.8m over the next few years. 

"That is unsustainable," it says. If indeed that price is accurate, you'd be hard pressed to find someone who disagrees.

Obviously not every school is the same, there are different environmental, geological and topographical challenges that distinguish different locations, and no one is expecting a 100% standardized building model for every single classroom across the country. 

But a greater degree of standardization makes sense and more than anything, a new system might allow for that most important quality: transparency. At the moment, it's not always clear why some school builds are prioritized over others. Schools are pushed up and down the list at the mercy of political whims.

That can't continue. Schools and school communities need clarity and certainty and any system that can provide that while improving our classroom stock and improving the learning environments for our kids has to be a good thing.

<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px; padding: 0px; user-select: text; overflow-wrap: break-word; white-space: pre-wrap; vertical-align: baseline; font-kerning: none; background-color: rgb(255, 255, 255); color: windowtext; text-align: left; text-indent: 0px;">It's been inevitable for months now that the Ministry of Education would lose responsibility for building and maintaining schools and at first glance the government's onto a winner with its alternative plan.&nbsp; 
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px; padding: 0px; user-select: text; overflow-wrap: break-word; white-space: pre-wrap; vertical-align: baseline; font-kerning: none; background-color: rgb(255, 255, 255); color: windowtext; text-align: left; text-indent: 0px;">The review into the state of school facilities shows only a third of the almost-500 building projects in the Ministry of education queue have been fully funded and concludes the average cost of a new classroom could rise to $1.8m over the next few years.&nbsp;
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px; padding: 0px; user-select: text; overflow-wrap: break-word; white-space: pre-wrap; vertical-align: baseline; font-kerning: none; background-color: rgb(255, 255, 255); color: windowtext; text-align: left; text-indent: 0px;">"That is unsustainable," it says. If indeed that price is accurate, you'd be hard pressed to find someone who disagrees.
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px; padding: 0px; user-select: text; overflow-wrap: break-word; white-space: pre-wrap; vertical-align: baseline; font-kerning: none; background-color: rgb(255, 255, 255); color: windowtext; text-align: left; text-indent: 0px;">Obviously not every school is the same, there are different environmental, geological and topographical challenges that distinguish different locations, and no one is expecting a 100% standardized building model for every single classroom across the country. 
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px; padding: 0px; user-select: text; overflow-wrap: break-word; white-space: pre-wrap; vertical-align: baseline; font-kerning: none; background-color: rgb(255, 255, 255); color: windowtext; text-align: left; text-indent: 0px;">But a&nbsp;greater degree of standardization makes sense and more than anything, a new system might allow for that most important quality: transparency. At the moment, it's not always clear why some school builds are prioritized over others. Schools are pushed up and down the list at the mercy of political whims.
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px; padding: 0px; user-select: text; overflow-wrap: break-word; white-space: pre-wrap; vertical-align: baseline; font-kerning: none; background-color: rgb(255, 255, 255); color: windowtext; text-align: left; text-indent: 0px;">That can't continue. Schools and school communities need clarity and certainty and any system that can provide that while improving our classroom stock and improving the learning environments for our kids has to be a good thing.

Jack Tame: Governments alternative plan with school builds

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/372fcca7-be0f-40b8-b958-b1ff004c6fb4/transcript

Up to 1,000 active-duty soldiers will join the North Carolina National Guard in delivering supplies, food and water to isolated communities.

President Joe Biden consoled victims whose lives were upended by the devastation of Hurricane Helene during a Thursday visit to Florida and Georgia.

At least 215 people are known to have died because of the destruction wrought by Hurricane Helene.

US Correspondent Mitch Mccann told Jack Tame that Helene is the second deadliest hurricane to hit the US mainland in 50 years after hurricane Katrina.

LISTEN ABOVE

<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; white-space: pre-wrap; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">Up to 1,000 active-duty soldiers will join the North Carolina National Guard in delivering supplies, food and water to isolated communities.
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; white-space: pre-wrap; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">President Joe Biden consoled victims whose lives were upended by the devastation of Hurricane Helene during a Thursday visit to Florida and Georgia.
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; white-space: pre-wrap; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">At least 215 people are known to have died because of the destruction wrought by Hurricane Helene.
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; white-space: pre-wrap; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">US Correspondent Mitch Mccann told Jack Tame that Helene is the second deadliest hurricane to hit the US mainland in 50 years after hurricane Katrina.
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; white-space: pre-wrap; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">LISTEN ABOVE

Mitch Mccan: US Correspondent says that Hurricane Helene is the "second deadliest" hurricane in 50 years

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/ff7d9ad7-2284-40e9-b865-b1ff004b450c/transcript

Dunedin remains in a state of emergency after seeing it's wettest day in over a century - with twice the usual October rainfall falling in just 40 hours.

The red warning for North Otago, Dunedin and Coastal Clutha is in place until 11pm tonight. 

More than 80 people were evacuated from their homes overnight and nearly 40 roads are currently closed.

Emergency Management Minister Mark Mitchell told Jack Tame that he was at Saint Clair’s golf club and witnessed them set up the evacuation centre.

Mitchell says that volunteers have helped turn out stretches and look after families as they came in. 

"As Kiwis we always seem to stand up and respond strongly when there's a need, and that's exactly what is happening," he said. 

LISTEN ABOVE

<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; white-space: pre-wrap; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">Dunedin remains in a state of emergency after seeing it's wettest day in over a century - with twice the usual October rainfall falling in just 40 hours.
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; white-space: pre-wrap; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">The red warning for North Otago, Dunedin and Coastal Clutha is in place until 11pm tonight. 
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; white-space: pre-wrap; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">More than 80 people were evacuated from their homes overnight and nearly 40 roads are currently closed.
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; white-space: pre-wrap; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">Emergency Management Minister Mark Mitchell told Jack Tame that he was at Saint Clair’s golf club and witnessed them set up the evacuation centre.
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; white-space: pre-wrap; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">Mitchell says that volunteers have helped turn out stretches and look after families as they came in. 
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; white-space: pre-wrap; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">"As Kiwis we always seem to stand up and respond strongly when there's a need, and that's exactly what is happening," he said. 
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; white-space: pre-wrap; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">LISTEN ABOVE

Mark Mitchell: Emergency Management Minister tells us how Dunedin Kiwis are coping with floods

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/897a40fc-b70f-4106-9015-b1ff00433ec5/transcript

Jenee Tibshraeny: NZ Herald Wellington business editor on the proposed inquiry into rural banking sector

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