Do we need more competition and regulation in the banking sector?

An inquiry into New Zealand’s banking competition, or lack thereof, is currently underway. Finance Minister Nicola Willis announced it in June, putting particular emphasis on rural banking and lending. A ComCom market study has already, unsurprisingly, found a lack of competition among our largest financial institutions – with a full report due next month. So, what does it all mean for the average Kiwi consumer – and is there hope on the horizon for some healthy competition? Today, Victoria University of Wellington associate professor of economics Martien Lubberink takes us through the state of our banking sector, and ABC journalist Dan Ziffer explains what lessons could be learned from Australia’s massive Royal Commission into Banking. Follow The Front Page on iHeartRadio, Apple Podcasts, Spotify or wherever you get your podcasts. You can read more about this and other stories in the New Zealand Herald, online at nzherald.co.nz, or tune in to news bulletins across the NZME network. Host: Chelsea DanielsSound Engineer: Paddy FoxProducer: Ethan SillsSee omnystudio.com/listener for privacy information.

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Go beyond the headlines with The Front Page, the New Zealand Herald’s daily news podcast. Each weekday Chelsea Daniels unpacks the stories shaping Aotearoa, from what’s happening in our own backyard to global events shaping our future. Every episode we speak to leaders, experts, reporters, and those living the story, so you get the full picture.  Subscribe now so you never miss an episode.