On the Mike Hosking Breakfast Full Show Podcast for Wednesday 21st of August, the banks respond to the Commerce Commission report saying there isn't enough competition in the sector. Do they agree?

We found Darleen Tana and pulled them from the naughty corner of Parliament to ask why they still deserves to stay on as an MP after turning down the Green's proposal to resign.

Ginny Andersen and Mark Mitchell talk about whether there is corruption in politics and why warnings for crimes are shooting up on Politics Wednesday.

Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.

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On the Mike Hosking Breakfast Full Show Podcast for Wednesday 21st of August, <a href="https://www.newstalkzb.co.nz/on-air/mike-hosking-breakfast/audio/antonia-watson-anz-ceo-disagrees-with-the-commerce-commissions-report-saying-the-banking-sector-isnt-competitive/">the banks respond to the Commerce Commission report</a> saying there isn't enough competition in the sector. Do they agree? 
We found <a href="https://www.newstalkzb.co.nz/on-air/mike-hosking-breakfast/audio/darleen-tana-former-green-mp-on-their-decision-to-remain-in-parliament-the-situation-with-the-migrant-workers/">Darleen Tana</a> and pulled them from the naughty corner of Parliament to ask why they still deserves to stay on as an MP after turning down the Green's proposal to resign. 
<a href="https://www.newstalkzb.co.nz/on-air/mike-hosking-breakfast/audio/pollies-labours-ginny-andersen-and-nationals-mark-mitchell-on-police-enforcement-of-the-smoking-vaping-bans-increase-in-formal-warnings/">Ginny Andersen and Mark Mitchell</a> talk about whether there is corruption in politics and why warnings for crimes are shooting up on Politics Wednesday.
Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts. 
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Open your mind to the world with New Zealand’s number one breakfast radio show.

Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more.

The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.

Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion,...

The Mike Hosking Breakfast

Full Show Podcast: 21 August 2024 

Big report day for big issues.

Report Number One: The ComCom and the business of banking. 

The market doesn’t work, more banks would help, how to get more banks? How to get less regulation, how to get better deals for the customer?

Firstly, don’t hold your breath. The ComCom has looked into power and petrol and banking – not a lot changes.

Nicola Willis didn’t help yesterday morning when she said in response to a perfectly legitimate question about lending practices, that a bank CEO had said they “weight farms differently from houses in terms of risk”, Willis said well they can tell that to the select committee. Which as far as I could work out means nothing, given I'm sure they will.

Then when asked about the banking lobby being powerful, she said “they may be powerful but democracy is more powerful”. Once again, it means nothing. What she was avoiding was the question ‘will you legislate’, and she was avoiding that because she is not legislating.

The same way the previous government made a lot of noise about supermarkets and petrol but were never going to legislate either. Instead, what we got was a sign on the footpath showing the 98 price and a Grocery Commissioner who so far is limited to press releases.

Here is your trouble: we have a lot of banks, we just don't use them. We can switch banks, we chose not to.

Yes, the rules the Reserve Bank has in place to make banks hold money could be changed, some of the regulation could be changed, but will it materially fix the market? No.

This, as I always say, is not to defend banks. Banks are highly profitable. Their margins are higher here than Australia.

But the mistake that is made almost every time, whether its banks, supermarkets, petrol stations, or telcos, is the hype never plays out in reality.

The jawboning gets the headlines, the action fades into obscurity.

Let's talk in a year, and you can show me how fundamentally different the New Zealand banking scene is. Or not.  

Big report day for big issues. 
Report Number One: The ComCom and the business of banking.  
The market doesn’t work, more banks would help, how to get more banks? How to get less regulation, how to get better deals for the customer? 
Firstly, don’t hold your breath. The ComCom has looked into power and petrol and banking – not a lot changes. 
Nicola Willis didn’t help yesterday morning when she said in response to a perfectly legitimate question about lending practices, that a bank CEO had said they “weight farms differently from houses in terms of risk”, Willis said well they can tell that to the select committee. Which as far as I could work out means nothing, given I'm sure they will. 
Then when asked about the banking lobby being powerful, she said “they may be powerful but democracy is more powerful”. Once again, it means nothing. What she was avoiding was the question ‘will you legislate’, and she was avoiding that because she is not legislating. 
The same way the previous government made a lot of noise about supermarkets and petrol but were never going to legislate either. Instead, what we got was a sign on the footpath showing the 98 price and a Grocery Commissioner who so far is limited to press releases. 
Here is your trouble: we have a lot of banks, we just don't use them. We can switch banks, we chose not to. 
Yes, the rules the Reserve Bank has in place to make banks hold money could be changed, some of the regulation could be changed, but will it materially fix the market? No. 
This, as I always say, is not to defend banks. Banks are highly profitable. Their margins are higher here than Australia. 
But the mistake that is made almost every time, whether its banks, supermarkets, petrol stations, or telcos, is the hype never plays out in reality. 
The jawboning gets the headlines, the action fades into obscurity. 
Let's talk in a year, and you can show me how fundamentally different the New Zealand banking scene is. Or not.

Mike's Minute: There won't be any action on the banking report

Joe Biden reflected on his legacy and laid a case against Donald Trump in a rousing address. 

The President's speech ended the first day of the Democratic National Convention where Kamala Harris will accept the presidential nomination.

Biden says crime has fallen under his presidency - and will continue to fall when a prosecutor is elected President, ahead of a convicted felon. 

Biden says Harris will be a President the nation can be proud of - and will put her stamp on America's future. 

In the same vein, Hillary Clinton declared that 'the future is here', saying that Harris has the character, experience, and vision to lead the nation forward.

US Correspondent Richard Arnold told Mike Hosking that while Donald Trump has been reviving his old tune of American carnage and saying that America is a nation in decline, that wasn’t the vibe last night.

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Joe Biden reflected on his legacy and laid a case against Donald Trump in a rousing address.  
The President's speech ended the first day of the Democratic National Convention where Kamala Harris will accept the presidential nomination. 
Biden says crime has fallen under his presidency - and will continue to fall when a prosecutor is elected President, ahead of a convicted felon.  
Biden says Harris will be a President the nation can be proud of - and will put her stamp on America's future.  
In the same vein, Hillary Clinton declared that 'the future is here', saying that Harris has the character, experience, and vision to lead the nation forward. 
US Correspondent Richard Arnold told Mike Hosking that while Donald Trump has been reviving his old tune of American carnage and saying that America is a nation in decline, that wasn’t the vibe last night. 
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Richard Arnold: US Correspondent on the first day of the Democratic National Convention

The Government has stepped in after it was revealed police have intentionally not been enforcing a law banning smoking and vaping in cars carrying children.

NZME can reveal not a single fine has been issued since the law came into force in 2021, with police saying fines are punitive and unlikely to work.

It can also be revealed police never carried out the necessary system upgrades to issue fines, despite Parliament delaying the law coming into force for 18 months to allow for the updates.

The law was passed by the Labour-led coalition in 2020 with support from National. It allowed officers to use their discretion to issue $50 spot fines.

Police Minister Mark Mitchell told Mike Hosking that the Police’s advice to the Police Minister at the time the law was passed was that the system couldn’t sustain the change.

He said that Police are now making the changes to the systems so that fines can be issued.

Labour’s Ginny Andersen said that from her understanding, while they knew the Police couldn’t implement it immediately there was a plan to do so over time that the Government was happy with.

She said she’s pleased that Mitchell is enforcing it and taking a stand, as the current Government has been very permissive around smoking by letting Smoke Free go.

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The Government has stepped in after it was revealed police have intentionally not been enforcing a law banning smoking and vaping in cars carrying children. 
NZME can reveal not a single fine has been issued since the law came into force in 2021, with police saying fines are punitive and unlikely to work. 
It can also be revealed police never carried out the necessary system upgrades to issue fines, despite Parliament delaying the law coming into force for 18 months to allow for the updates. 
The law was passed by the Labour-led coalition in 2020 with support from National. It allowed officers to use their discretion to issue $50 spot fines. 
Police Minister Mark Mitchell told Mike Hosking that the Police’s advice to the Police Minister at the time the law was passed was that the system couldn’t sustain the change. 
He said that Police are now making the changes to the systems so that fines can be issued. 
Labour’s Ginny Andersen said that from her understanding, while they knew the Police couldn’t implement it immediately there was a plan to do so over time that the Government was happy with. 
She said she’s pleased that Mitchell is enforcing it and taking a stand, as the current Government has been very permissive around smoking by letting Smoke Free go. 
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Full Show Podcast: 21 August 2024

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