The Banking Association says there is indeed competition in the market.  

A draft report from the Commerce Commission has found a two-tier system divides smaller banks from ANZ, ASB, BNZ, and Westpac, as well as a lack of competition. 

It says an apparent focus on profit margins has resulted in under-investment in platforms and low innovation. 

It recommends the Government improve capital for Kiwibank and smaller banks.  

Banking Association Chief Executive Roger Beaumont told Mike Hosking that the commission also recognised the impact of industry regulation.  

He says the regulation banks have been required to do is off the charts and has been a handbrake on innovation. 

LISTEN ABOVE

The Banking Association says there is indeed competition in the market.  
A draft report from the Commerce Commission has found a two-tier system divides smaller banks from ANZ, ASB, BNZ, and Westpac, as well as a lack of competition. 
It says an apparent focus on profit margins has resulted in under-investment in platforms and low innovation. 
It recommends the Government improve capital for Kiwibank and smaller banks.  
Banking Association Chief Executive Roger Beaumont told Mike Hosking that the commission also recognised the impact of industry regulation.  
He says the regulation banks have been required to do is off the charts and has been a handbrake on innovation. 
LISTEN ABOVE

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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,...

The Mike Hosking Breakfast

Roger Beaumont: Banking Association CEO on the Commerce Commission's report into the banking industry

There's a battle of the ideologies on display as ACT looks to cut art spending on roading projects. 

It's very ACT, i.e. fiscally disciplined. Every $1 million on roading needs to be $1 million on roading, not 99% on roads and 1% on art. 

The art is an issue for several reasons, mainly for me because most of it is unimpressive. 

I'm not actually against art per se. I like art. I prefer private operators to pay for it, but I wouldn't die in the ditch trying to cut it. 

It makes sense. We have no money, we need more roads, and so it's fairly obvious you make every dollar go as far as it can. 

And I suspect broadly most people feel the same way, so it's an easy headline and a political point to make in a campaign. 

But public art can be amazing. The trouble is a lot of ours isn't. 

On the highway out of Christchurch heading towards Kaiapoi there is some good work. At what they call Spaghetti Junction in Auckland there is what loosely looks like red light stalks. They're awful. 

On our way home on the new highway north of Auckland there are a bunch of Māori soldiers or chiefs, sort of metal cutouts that are rusted. 

It’s a look. I don’t like it, which is the other bit about art. It's fraught. 

There is also obviously an overt Māori fixation around it. There's not a lot of Siddell's or Sydney's about the place. There are more conceptual, race-based interpretations that you might argue may not get a lot of commissions if it wasn’t for the NZTA. 

So you have the battle between to do it, or not, and also if you do do it, is it any good? 

But to the ideology, ACT are about efficiency and that’s good, given our parlous state fiscally. 

The defence came from the transport wonks who said, "look, its only 1.4% of the overall budget", the inference being that we shouldn't worry about it because it's nothing. And yet, do the math. 

For every 72-odd roads, that's another free road if you don’t spend your 1.4%. Would you rather have another road or a bunch of eclectic sculptures? 

I think the inescapable conclusion is art is for better days, more affluent times, in countries that have productivity levels way better than ours and that have handled their finances better than ours. 

Art is a reward, not a must have. 

There's a battle of the ideologies on display as ACT looks to cut art spending on roading projects.&nbsp;
It's very ACT, i.e. fiscally disciplined. Every $1 million on roading needs to be $1 million on roading, not 99% on roads and 1% on art.&nbsp;
The art is an issue for several reasons, mainly for me because most of it is unimpressive.&nbsp;
I'm not actually against art per se. I like art. I prefer private operators to pay for it, but I wouldn't die in the ditch trying to cut it.&nbsp;
It makes sense. We have no money, we need more roads, and so it's fairly obvious you make every dollar go as far as it can.&nbsp;
And I suspect broadly most people feel the same way, so it's an easy headline and a political point to make in a campaign.&nbsp;
But public art can be amazing. The trouble is a lot of ours isn't.&nbsp;
On the highway out of Christchurch heading towards Kaiapoi there is some good work. At what they call Spaghetti Junction in Auckland there is what loosely looks like red light stalks. They're awful.&nbsp;
On our way home on the new highway north of Auckland there are a bunch of Māori soldiers or chiefs, sort of metal cutouts that are rusted.&nbsp;
It’s a look. I don’t like it, which is the other bit about art. It's fraught.&nbsp;
There is also obviously an overt Māori fixation around it. There's not a lot of Siddell's or Sydney's about the place. There are more conceptual, race-based interpretations that you might argue may not get a lot of commissions if it wasn’t for the NZTA.&nbsp;
So you have the battle between to do it, or not, and also if you do do it, is it any good?&nbsp;
But to the ideology, ACT are about efficiency and that’s good, given our parlous state fiscally.&nbsp;
The defence came from the transport wonks who said, "look, its only 1.4% of the overall budget", the inference being that we shouldn't worry about it because it's nothing. And yet, do the math.&nbsp;
For every 72-odd roads, that's another free road if you don’t spend your 1.4%. Would you rather have another road or a bunch of eclectic sculptures?&nbsp;
I think the inescapable conclusion is art is for better days, more affluent times, in countries that have productivity levels way better than ours and that have handled their finances better than ours.&nbsp;
Art is a reward, not a must have.&nbsp;

Mike's Minute: The battle of ideologies at play

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/44941b39-ee87-422d-8757-b4be017cecf2/transcript

Proving there's always mileage in a car show, it's time for a new era of the Grand Tour. 

There'll be three new hosts behind the wheel, Francis Bourgeois, James Engelsman, and Thomas Holland taking over from Jeremy Clarkson, Richard Hammond, and James May. 

Holland and Engelsman have hosted the YouTube channel Throttle House together for over a decade, while Bourgeois is a well-known social media trainspotter and mechanical engineer. 

The trio has big shoes to fill, and Holland told Mike Hosking they've been careful while making the show, as they know how much it means to so many people. 

"The whole team focused on, I guess, making the show that we would want to watch were we not on it," he explained. 

"I made sure that was in my mind the whole time, going like, is this good enough for me if I was watching it?" 

The inter-host dynamic was a huge draw of the original show, and fortunately there seems to be no lack of chemistry between the new hosts. 

Bourgeois told Hosking their first conversation would be familiar to most car enthusiasts —a discussion of who's driving what— but the building blocks of friendship grew quickly. 

"We're having laughs, we're going through into these chemistry tests, we're having drinks together in the bar afterwards." 

"It feels like our friendship was actually kind of ready to go and it was rocketing away by the time we were filming the first episode." 

They're hopeful the new iteration of the show will receive the same support as the last, Engelsman saying they have a lot of ideas for the future. 

"We went through so many for what would be in this series that were either not possible because of seasonality or timing, that now we can tackle if there is a season 2 and more," he told Hosking 

"I think there's more hope than there's ever been for a successful reinvention of the show, while honouring the formula and then the musical note that it hits with the audience." 

LISTEN ABOVE   

Proving there's always mileage in a car show, it's time for a new era of the Grand Tour.&nbsp;
There'll be three new hosts behind the wheel, Francis Bourgeois, James Engelsman, and Thomas Holland taking over from Jeremy Clarkson, Richard Hammond, and James May.&nbsp;
Holland and Engelsman have hosted the YouTube channel Throttle House together for over a decade, while Bourgeois is a well-known social media trainspotter and mechanical engineer.&nbsp;
The trio has big shoes to fill, and Holland told Mike Hosking they've been careful while making the show, as they know how much it means to so many people.&nbsp;
"The whole team focused on, I guess, making the show that we would want to watch were we not on it," he explained.&nbsp;
"I made sure that was in my mind the whole time, going like, is this good enough for me if I was watching it?"&nbsp;
The inter-host dynamic was a huge draw of the original show, and fortunately there seems to be no lack of chemistry between the new hosts.&nbsp;
Bourgeois told Hosking their first conversation would be familiar to most car enthusiasts —a discussion of who's driving what— but the building blocks of friendship grew quickly.&nbsp;
"We're having laughs, we're going through into these chemistry tests, we're having drinks together in the bar afterwards."&nbsp;
"It feels like our friendship was actually kind of ready to go and it was rocketing away by the time we were filming the first episode."&nbsp;
They're hopeful the new iteration of the show will receive the same support as the last, Engelsman saying they have a lot of ideas for the future.&nbsp;
"We went through so many for what would be in this series that were either not possible because of seasonality or timing, that now we can tackle if there is a season 2 and more," he told Hosking&nbsp;
"I think there's more hope than there's ever been for a successful reinvention of the show, while honouring the formula and then the musical note that it hits with the audience."&nbsp;
LISTEN ABOVE &nbsp;&nbsp;

Francis Bourgeois, James Engelsman and Thomas Holland: New hosts of The Grand Tour on the making of the show

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/deacb8d8-36f5-4e39-81f5-b4be01792bbd/transcript

A young Kiwi pool player is taking his game to the world stage. 

22-year-old Sheridan Burmester's heading overseas for a major international campaign, competing in tournaments across Vietnam, Bali, and India.  

He's also heavily invested in growing the game back home in New Zealand, similarly to things like darts, which has growing mainstream appeal.  

Burmester told Mike Hosking they just need some support and recognition to supercharge the sport. 

He says a lot of people don't know anything about pool being global or that you can even compete in the game.  

LISTEN ABOVE   

A young Kiwi pool player is taking his game to the world stage.&nbsp;
22-year-old Sheridan Burmester's heading overseas for a major international campaign, competing in tournaments across Vietnam, Bali, and India. &nbsp;
He's also heavily invested in growing the game back home in New Zealand, similarly to things like darts, which has growing mainstream appeal. &nbsp;
Burmester told Mike Hosking they just need some support and recognition to supercharge the sport.&nbsp;
He says a lot of people don't know anything about pool being global or that you can even compete in the game. &nbsp;
LISTEN ABOVE &nbsp;&nbsp;

Sheridan Burmester: Kiwi pool player on his international campaign, growing the sport in New Zealand

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/222af92b-0cde-44a9-89f2-b4be016a7653/transcript

Roger Beaumont: Banking Association CEO on the Commerce Commission's report into the banking industry

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