The new lending legislation seems like it will be a net positive for the banks.

As part of the CCCFA reforms the Financial Markets Authority is set to become a one-stop regulatory shop, looking after licences to ensure consumers are taken care of.

Banking Association CEO Roger Beaumont told Mike Hosking that while there will likely be minimal impact for customers, there will be definite improvements on the bank’s side.

He said that one of the key changes is that the “draconian” personal liability legislation for managers and banks will be removed.

Beaumont says the devil is in the detail, of which there hasn’t been much yet, but anything that simplifies and clarifies monitoring in the sector is a good thing.

LISTEN ABOVE

The new lending legislation seems like it will be a net positive for the banks.
As part of the CCCFA reforms the Financial Markets Authority is set to become a one-stop regulatory shop, looking after licences to ensure consumers are taken care of. 
Banking Association CEO Roger Beaumont told Mike Hosking that while there will likely be minimal impact for customers, there will be definite improvements on the bank’s side. 
He said that one of the key changes is that the “draconian” personal liability legislation for managers and banks will be removed. 
Beaumont says the devil is in the detail, of which there hasn’t been much yet, but anything that simplifies and clarifies monitoring in the sector is a good thing. 
LISTEN ABOVE

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

Roger Beaumont: NZ Banking Association CEO on the changes to the CCCFA and lending legislation

The most telling part of the release of the draft of our critical minerals list is that we have never as a country developed a comprehensive picture of our mineral needs and weaknesses.

The obvious question is: why not?

Part of a strong resilient economy is when you do things yourself. As a small country we can't do everything because we don’t have domestic heft. We don’t have a natural domestic market for a lot of large-scale operations.

So, in some cases where we do things at scale, we sell it offshore. We are quite good at some of it, and farming would be an example.

But it is why we don't make cars. When we did it didn’t work financially so we are better off bringing them in.

But one of the great economic quandaries we have is a thing called a current account deficit. This shows we buy more stuff from the world than we sell to it.

That's not good.

We could mine more than we do. The fact that there are 35 minerals on the list, and by the way, the list doesn’t include coal or gold, means we have a lot of minerals.

Are we taking full advantage? Obviously not.

Could we? Why not?

Because a lot of people get angsty about mining.

But as the miners will tell you, it's an increasingly sophisticated industry that cleans up after itself in a completely different way from the old days.

Here is the simple truth - the world needs minerals. We need minerals the same way we need power to turn the lights on and our current predicament around generation and supply is all the evidence you need to know we should be prioritising jobs and costs of living over the ideology of renewables and conservation land.

Those opposed are often opposed no matter what. They aren't for turning. They think a fern and snail beats a job and power and that’s just the way they are.

They are allowed to be obsessed, but they shouldn't dictate economic travel.

Minerals are an income stream, a job stream, and a sensible, viable answer to a lot of economic problems.

The most telling part of the release of the draft of our critical minerals list is that we have never as a country developed a comprehensive picture of our mineral needs and weaknesses. 
The obvious question is: why not? 
Part of a strong resilient economy is when you do things yourself. As a small country we can't do everything because we don’t have domestic heft. We don’t have a natural domestic market for a lot of large-scale operations. 
So, in some cases where we do things at scale, we sell it offshore. We are quite good at some of it, and farming would be an example. 
But it is why we don't make cars. When we did it didn’t work financially so we are better off bringing them in. 
But one of the great economic quandaries we have is a thing called a current account deficit. This shows we buy more stuff from the world than we sell to it. 
That's not good. 
We could mine more than we do. The fact that there are 35 minerals on the list, and by the way, the list doesn’t include coal or gold, means we have a lot of minerals. 
Are we taking full advantage? Obviously not. 
Could we? Why not? 
Because a lot of people get angsty about mining. 
But as the miners will tell you, it's an increasingly sophisticated industry that cleans up after itself in a completely different way from the old days. 
Here is the simple truth - the world needs minerals. We need minerals the same way we need power to turn the lights on and our current predicament around generation and supply is all the evidence you need to know we should be prioritising jobs and costs of living over the ideology of renewables and conservation land. 
Those opposed are often opposed no matter what. They aren't for turning. They think a fern and snail beats a job and power and that’s just the way they are. 
They are allowed to be obsessed, but they shouldn't dictate economic travel. 
Minerals are an income stream, a job stream, and a sensible, viable answer to a lot of economic problems.

Mike's Minute: We need minerals and can't ignore it

On the Mike Hosking Breakfast Full Show Podcast for Tuesday 17th of September, the Government’s crime targets of 2030 are going backwards, but some tougher sentences hope to make up for that.

Mike has uncovered a scandal at AUT, and he puts it to the Prime Minister as part of the weekly catch-up.

Ryan Fox talks the year on the PGA Tour and if he's going back next year, provided he qualifies.

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

LISTEN ABOVE

On the Mike Hosking Breakfast Full Show Podcast for Tuesday 17th of September, the Government’s crime targets of 2030 are going backwards, but <a href="https://www.newstalkzb.co.nz/on-air/mike-hosking-breakfast/audio/sunny-kaushal-crime-prevention-group-president-on-the-increased-rates-of-people-victimised-by-crime/">some tougher sentences</a> hope to make up for that. 
Mike has uncovered a scandal at AUT, and he puts it to the <a href="https://www.newstalkzb.co.nz/on-air/mike-hosking-breakfast/audio/christopher-luxon-prime-minister-on-the-impact-of-the-gang-patch-ban-in-private-spaces-sentencing-law-reforms/">Prime Minister</a> as part of the weekly catch-up. 
<a href="https://www.newstalkzb.co.nz/on-air/mike-hosking-breakfast/audio/ryan-fox-kiwi-golfer-discusses-hip-injury-financial-pressures-pga-tour/">Ryan Fox</a> talks the year on the PGA Tour and if he's going back next year, provided he qualifies. 
Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts. 
LISTEN ABOVE

Full Show Podcast: 17 September 2024 

Questions are arising over the BBC's handling of disgraced broadcaster Huw Edwards' child abuse images case.

The former news anchor has been given a suspended six-month sentence for soliciting indecent images of children.

UK Correspondent Rod Liddle told Mike Hosking the BBC still paid Edwards his salary after being arrested and has now asked for it to be paid back.

He says there's a view the BBC protects those it values from public scrutiny.

LISTEN ABOVE

Questions are arising over the BBC's handling of disgraced broadcaster Huw Edwards' child abuse images case. 
The former news anchor has been given a suspended six-month sentence for soliciting indecent images of children. 
UK Correspondent Rod Liddle told Mike Hosking the BBC still paid Edwards his salary after being arrested and has now asked for it to be paid back. 
He says there's a view the BBC protects those it values from public scrutiny. 
LISTEN ABOVE

Roger Beaumont: NZ Banking Association CEO on the changes to the CCCFA and lending legislation

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