The Commerce Commission says the banking sector lacks competition. 

Its study has found a two-tier system with the four major banks having an apparent focus on maintaining profits, resulting in stable market shares, high profits, and an underinvestment in their platforms. 

Herald Wellington Business Editor Jenee Tibshraeny told Kerre Woodham that the Commission says if we give a smaller bank, Kiwibank, more capital, it can grow. 

She says the problem is the Government's trying to tighten its purse strings, so any money it gives Kiwibank will be questioned.

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The Commerce Commission says the banking sector lacks competition.  
Its study has found a two-tier system with the four major banks having an apparent focus on maintaining profits, resulting in stable market shares, high profits, and an underinvestment in their platforms.  
Herald Wellington Business Editor Jenee Tibshraeny told Kerre Woodham that the Commission says if we give a smaller bank, Kiwibank, more capital, it can grow.  
She says the problem is the Government's trying to tighten its purse strings, so any money it gives Kiwibank will be questioned. 
LISTEN ABOVE

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Kerre Woodham Mornings Podcast

Jenee Tibshraeny: Herald Wellington Business Editor on the Commerce Commissions study into the banking sector

Political appointments are being scrutinised after the resignation of KiwiRail director Scott O’Donnell due to conflicts of interest. 

Political analyst Bryce Edwards described the appointment as a “farce”, and the result of a broken system and “rotten governance.” 

O’Donnell is a major player in the trucking and transport sector, and some of the ten companies he’s involved in supply services to KiwiRail – though a management plan was put in place to mitigate that. 

While he doesn’t think there should be a rule against political appointments, Edwards told Kerre Woodham that there needs to be better processes and more scrutiny.  

He says at the moment, any government of the day can get away with whatever they want.  

LISTEN ABOVE 

Political appointments are being scrutinised after the resignation of KiwiRail director Scott O’Donnell due to conflicts of interest.&nbsp;
Political analyst Bryce Edwards described the appointment as a “farce”, and the result of a broken system and “rotten governance.”&nbsp;
O’Donnell is a major player in the trucking and transport sector, and some of the ten companies he’s involved in supply services to KiwiRail – though a management plan was put in place to mitigate that.&nbsp;
While he doesn’t think there should be a rule against political appointments, Edwards told Kerre Woodham that there needs to be better processes and more scrutiny. &nbsp;
He says at the moment, any government of the day can get away with whatever they want. &nbsp;
LISTEN ABOVE&nbsp;

Bryce Edwards: Political Analyst on political appointments and conflicts of interest in NZ

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/5c69a936-01f4-40b0-bafb-b410000f408f/transcript

What I found more outrageous on the internet yesterday was yet another example of this country's propensity for doling out jobs for the boys and indeed the girls. Every political party does it, every government does it, rewards the party faithful and their generous donors and backers with cushy sinecures. Grafter-in-chief would have to be Trevor Mallard's posting to Dublin – although would it? Because there are plenty of other opportunities to point the finger. Look at Simon Bridges, the ex-National Party leader was appointed as the new chair of the New Zealand Transport Agency, Waka Kotahi, in March 24. 

There are many, many examples of political cronyism. And in the latest one, a KiwiRail director has quit the board two years early after only a couple of months in the role. That's not the news. What is news is that he was appointed to the board at all given his conflict of interest. Scott O'Donnell is a big player in trucking and freight. And given some of the 10 companies he's involved with supply services to KiwiRail, what on earth was he doing being made a director of KiwiRail? The conflicts required Treasury to put a management plan in place. 

The conflict of interest mitigation plan contained seven measures to manage conflicts, including recusing himself from board meeting discussions where there was a conflict of interest. It was simply unsustainable. He was being paid to do a job that he simply could not do because of the conflicts of interest. He ended up leaving meetings early and missing agenda items and, you know, became apparent that this wasn't going to work. He'll be stepping down next week and thanked for his service. But he should never ever have been appointed in the first place. 

So not only are there existing conflicts of interest, he's one of four directors of HW Richardson's Transport Tapunui, which donated $20,000 to New Zealand First in July 2024. The company's also involved in a project that recently received a government regional infrastructure loan, Shane Jones slush fund of $8 million. And then he's appointed by Winston to the board of KiwiRail. It's just another example and it's so common that it barely registered. I mean, I have to give credit to Radio New Zealand who were following this all the way through and BusinessDesk pointing it out going, No, no, no, this isn't good, this isn't right, this doesn't work. 

Do we have so few people in this country of five million who can do governance jobs and chief executive jobs that we have to accept there'll only be one or two degrees of separation, if that? That there is always going to be a conflict? If you think of the five million of us, how many of us could do a chief executive job or be on a board, take a director's role on a board? 

Look at the yawning vacancies that we have for our major companies, with a new one with Fonterra now. I mean, Miles Hurrell could walk into about 20 jobs in this country right now, either in sports governance or in business. There are so few people able to do the job. Do we have to accept that there is going to be a conflict of interest in just about every single appointment made? 

Do more of us have to put up our hands and do the directors' courses so that you can find maybe somebody somewhere who doesn't, hasn't made a donation or hasn't worked or hasn't been a politician who can then do the job? Or are we just simply too small? 

How we haven't appeared on the dirt list of corruption is beyond me. It shows either a really, really principled closed doors approach to business in this country, being able to separate your different business interests and focus on them solely and leave everything at the door when you go in, or we just haven't uncovered it yet. I'd really love to see an end of the appointments of jobs for the girls and the boys, but then who would do the job when you look at the vacancies that exist right now. 

What I found more outrageous on the internet yesterday was yet another example of this country's propensity for doling out jobs for the boys and indeed the girls. Every political party does it, every government does it, rewards the party faithful and their generous donors and backers with cushy sinecures. Grafter-in-chief would have to be Trevor Mallard's posting to Dublin – although would it? Because there are plenty of other opportunities to point the finger. Look at Simon Bridges, the ex-National Party leader was appointed as the new chair of the New Zealand Transport Agency, Waka Kotahi, in March 24.&nbsp;
There are many, many examples of political cronyism. And in the latest one, a KiwiRail director has quit the board two years early after only a couple of months in the role. That's not the news. What is news is that he was appointed to the board at all given his conflict of interest. Scott O'Donnell is a big player in trucking and freight. And given some of the 10 companies he's involved with supply services to KiwiRail, what on earth was he doing being made a director of KiwiRail? The conflicts required Treasury to put a management plan in place.&nbsp;
The conflict of interest mitigation plan contained seven measures to manage conflicts, including recusing himself from board meeting discussions where there was a conflict of interest. It was simply unsustainable. He was being paid to do a job that he simply could not do because of the conflicts of interest. He ended up leaving meetings early and missing agenda items and, you know, became apparent that this wasn't going to work. He'll be stepping down next week and thanked for his service. But he should never ever have been appointed in the first place.&nbsp;
So not only are there existing conflicts of interest, he's one of four directors of HW Richardson's Transport Tapunui, which donated $20,000 to New Zealand First in July 2024. The company's also involved in a project that recently received a government regional infrastructure loan, Shane Jones slush fund of $8 million. And then he's appointed by Winston to the board of KiwiRail. It's just another example and it's so common that it barely registered. I mean, I have to give credit to Radio New Zealand who were following this all the way through and BusinessDesk pointing it out going, No, no, no, this isn't good, this isn't right, this doesn't work.&nbsp;
Do we have so few people in this country of five million who can do governance jobs and chief executive jobs that we have to accept there'll only be one or two degrees of separation, if that? That there is always going to be a conflict? If you think of the five million of us, how many of us could do a chief executive job or be on a board, take a director's role on a board?&nbsp;
Look at the yawning vacancies that we have for our major companies, with a new one with Fonterra now. I mean, Miles Hurrell could walk into about 20 jobs in this country right now, either in sports governance or in business. There are so few people able to do the job. Do we have to accept that there is going to be a conflict of interest in just about every single appointment made?&nbsp;
Do more of us have to put up our hands and do the directors' courses so that you can find maybe somebody somewhere who doesn't, hasn't made a donation or hasn't worked or hasn't been a politician who can then do the job? Or are we just simply too small?&nbsp;
How we haven't appeared on the dirt list of corruption is beyond me. It shows either a really, really principled closed doors approach to business in this country, being able to separate your different business interests and focus on them solely and leave everything at the door when you go in, or we just haven't uncovered it yet. I'd really love to see an end of the appointments of jobs for the girls and the boys, but then who would do the job when you look at the vacancies that exist right now.&nbsp;

Kerre Woodham: New Zealand's conflict of interest problem

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/f7dcbeb2-a622-4a08-acc1-b4100003e464/transcript

Manatū Taonga Ministry for Culture and Heritage is removing the Ngā Tapuwae Heritage Trails website for Gallipoli and the Western Front in what Historian Chris Pugsley believes is a cost cutting measure and a result of firing historians. 

Pugsley spoke to Kerre Woodham, slamming the move. 

LISTEN ABOVE

Manatū Taonga Ministry for Culture and Heritage is removing the Ngā Tapuwae Heritage Trails website for Gallipoli and the Western Front in what Historian Chris Pugsley believes is a cost cutting measure and a result of firing historians.&nbsp;
Pugsley spoke to Kerre Woodham, slamming the move.&nbsp;
LISTEN ABOVE

Chris Pugsley: Historian slams culture ministry for axing Heritage Trails website for Gallipoli

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/129f2650-33f7-4b38-966e-b40f00051a29/transcript

Jenee Tibshraeny: Herald Wellington Business Editor on the Commerce Commissions study into the banking sector

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