August 15, 2024 • 4 mins
The Government's wide-reaching banking inquiry has been met with support from Federated Farmers.
Banking spokesperson Richard McIntyre has claimed this inquiry will shine a light on the levels of competition, profitability and transparency in rural lending - information farmers have been waiting for.
The Country's Jamie Mackay explains further.
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Speaker 1 (00:01):
The Rural Report on Heather Duper see Allen Drave Heather.
Speaker 2 (00:06):
A good question for someone who says they don't understand
is what would it be if you did understand? That's
a parent talking right now. I don't think do you
think Adrian is going to respond? It might actually respond
quite well to that, actually to a bit of parental discipline.
Six twenty four Jamie mckaye, Host of the Countries with US.
Speaker 1 (00:19):
Now, Hey, Jamie, got I hear that Federated.
Speaker 2 (00:22):
Farmer's happy with the scope of that banking inquiry.
Speaker 1 (00:25):
Yeah, I think they're quite shafed. They've been pushing hard
for this one. They please the government and now announced
a wide ranging inquiry that will leave Heather the banks
with nowhere to hide. That's so, says Richard McIntyre, the
banking spokesperson who's been leading the charge on this. Look.
I've been calling They've been asking questions, serious questions about
(00:45):
the levels of competition, profitability and transparency in rural lending
for a long time now, and they want to shine
the light on parts of the rural banking system that
up until now have been allowed to operate in the shadows.
Richard's words, not mine, there again, I think one of
the key areas they want to have a closer look
at here. That is the impact. Yes, that the Reserve Bank,
(01:06):
that villain Adrian Or and his capital requirements around lending
to farmers, because you talk to the banks and they'll say, look,
we're being hamstrung by the Reserve Bank. We have to
hold more money against rural lending. That's why it's more
expensive than say, residential lending. So look at the submissions
(01:29):
closed in late September. Federated farmers are leading the charge
on this one, and I've been saying this for ages
that look, I'm not sure that the risk margin over
and above residential is worth is fair, And I would
say that the banks are subsidizing the very competitive residential
market heather by business and farming.
Speaker 2 (01:50):
They're interesting. Hey, so you had labors Joe Luxton on
the show today. Let's have listened to what she said.
Speaker 1 (01:56):
Joe, I've got to stop you.
Speaker 2 (01:57):
That's very wishy washy.
Speaker 1 (01:58):
Can I put it to you that you might have
of nine or twelve years to make up some agricultural
policy the way you're going. Ah, No, definitely not crystal Justice.
I disagree with you on that. One. Jamie, absolutely not.
You know, the way the current government's going, I wouldn't
be surprised to see ended up being a one term government.
Speaker 2 (02:15):
I mean, obviously she would wish that was the case.
What do you make of her as the agricultural spokesperson.
Speaker 1 (02:20):
Ah, Look, she has a consensus politician, unlike Damien who
loved to scrap Damien O'Connor. Of course, Look, the question
came about because I was reading a profile on her
in one of the farming papers, and she came out
and said, we don't have policy in the agricultural space
at the moment, and we've got time to develop the
(02:41):
policy over the next twelve months. And of course I
said you might have nine or twelve years to do that,
and she says, nah, Look, the disgovernment might be a
one term government. She's saying her focus is around building
relationship and listening to farmers and finding out what they
might want from us when we're next in government. Well,
i'll tell you what the far for the next government.
(03:02):
They don't want labor to be in it, let alone
the green source Capati.
Speaker 2 (03:05):
Mari yep I hear, yeah, Hey, Jamie, thank you very much,
really appreciate your time, mate. This's Jamie McKay, Host of
the Country.
Speaker 1 (03:12):
Here.
Speaker 2 (03:12):
The steward is bang on Adrian fire hose the economy
in our banks with cheap money, and now he's trying
to cancel anyone who questions him. He's the worst Reserve
Bank governor and it needs to go. That's as that's
not as crazy and way out there as it sounds.
I was reading Michael Riddell's piece that he put on
his blog this morning on Croaking Cassandra. He is the
former Reserve Bank economist, so he knows what he's talking about,
(03:34):
and he's been employed by the place and he said
it was deeply, deeply disappointing that Adrian all was reappointed
as the Reserve Bank governor. So there you go. Listen.
I'll tell you what actually I want to get to
the rent controls. Rent controls has popped up in the
UK again, terrible idea. Will talk to you about that shortly.
Here's the third tip from from the Quantus pilot who
(03:56):
I was talking about. Before sanitation wipes, you need to
hear reckons get on a plane with like those little
wet wipes, but not like the not just the sort
of like the non bacterial ones. You know what I mean, like,
have some sanitation wipes, he says, because planes don't get
cleaned as much as you think between flights. The number
of germs on aeroplanes is disgusting. You should wipe your
(04:16):
trade table before you eat off it and sanitize your
hands regularly during the journey so you don't get sick.
So you go dress up, sanitize. What was the other one, Oh,
noise canceling headphones. See you go, Sam Dicky nex Shoo.
Speaker 1 (04:35):
For more from Heather dupless Yellen Drive, listen live to
news talks he'd be from four pm weekdays, or follow
the podcast on iHeartRadio
The Rural Report on Heather Duper see Allen Drave Heather.
Speaker 2 (00:06):
A good question for someone who says they don't understand
is what would it be if you did understand? That's
a parent talking right now. I don't think do you
think Adrian is going to respond? It might actually respond
quite well to that, actually to a bit of parental discipline.
Six twenty four Jamie mckaye, Host of the Countries with US.
Speaker 1 (00:19):
Now, Hey, Jamie, got I hear that Federated.
Speaker 2 (00:22):
Farmer's happy with the scope of that banking inquiry.
Speaker 1 (00:25):
Yeah, I think they're quite shafed. They've been pushing hard
for this one. They please the government and now announced
a wide ranging inquiry that will leave Heather the banks
with nowhere to hide. That's so, says Richard McIntyre, the
banking spokesperson who's been leading the charge on this. Look.
I've been calling They've been asking questions, serious questions about
(00:45):
the levels of competition, profitability and transparency in rural lending
for a long time now, and they want to shine
the light on parts of the rural banking system that
up until now have been allowed to operate in the shadows.
Richard's words, not mine, there again, I think one of
the key areas they want to have a closer look
at here. That is the impact. Yes, that the Reserve Bank,
(01:06):
that villain Adrian Or and his capital requirements around lending
to farmers, because you talk to the banks and they'll say, look,
we're being hamstrung by the Reserve Bank. We have to
hold more money against rural lending. That's why it's more
expensive than say, residential lending. So look at the submissions
(01:29):
closed in late September. Federated farmers are leading the charge
on this one, and I've been saying this for ages
that look, I'm not sure that the risk margin over
and above residential is worth is fair, And I would
say that the banks are subsidizing the very competitive residential
market heather by business and farming.
Speaker 2 (01:50):
They're interesting. Hey, so you had labors Joe Luxton on
the show today. Let's have listened to what she said.
Speaker 1 (01:56):
Joe, I've got to stop you.
Speaker 2 (01:57):
That's very wishy washy.
Speaker 1 (01:58):
Can I put it to you that you might have
of nine or twelve years to make up some agricultural
policy the way you're going. Ah, No, definitely not crystal Justice.
I disagree with you on that. One. Jamie, absolutely not.
You know, the way the current government's going, I wouldn't
be surprised to see ended up being a one term government.
Speaker 2 (02:15):
I mean, obviously she would wish that was the case.
What do you make of her as the agricultural spokesperson.
Speaker 1 (02:20):
Ah, Look, she has a consensus politician, unlike Damien who
loved to scrap Damien O'Connor. Of course, Look, the question
came about because I was reading a profile on her
in one of the farming papers, and she came out
and said, we don't have policy in the agricultural space
at the moment, and we've got time to develop the
(02:41):
policy over the next twelve months. And of course I
said you might have nine or twelve years to do that,
and she says, nah, Look, the disgovernment might be a
one term government. She's saying her focus is around building
relationship and listening to farmers and finding out what they
might want from us when we're next in government. Well,
i'll tell you what the far for the next government.
(03:02):
They don't want labor to be in it, let alone
the green source Capati.
Speaker 2 (03:05):
Mari yep I hear, yeah, Hey, Jamie, thank you very much,
really appreciate your time, mate. This's Jamie McKay, Host of
the Country.
Speaker 1 (03:12):
Here.
Speaker 2 (03:12):
The steward is bang on Adrian fire hose the economy
in our banks with cheap money, and now he's trying
to cancel anyone who questions him. He's the worst Reserve
Bank governor and it needs to go. That's as that's
not as crazy and way out there as it sounds.
I was reading Michael Riddell's piece that he put on
his blog this morning on Croaking Cassandra. He is the
former Reserve Bank economist, so he knows what he's talking about,
(03:34):
and he's been employed by the place and he said
it was deeply, deeply disappointing that Adrian all was reappointed
as the Reserve Bank governor. So there you go. Listen.
I'll tell you what actually I want to get to
the rent controls. Rent controls has popped up in the
UK again, terrible idea. Will talk to you about that shortly.
Here's the third tip from from the Quantus pilot who
(03:56):
I was talking about. Before sanitation wipes, you need to
hear reckons get on a plane with like those little
wet wipes, but not like the not just the sort
of like the non bacterial ones. You know what I mean, like,
have some sanitation wipes, he says, because planes don't get
cleaned as much as you think between flights. The number
of germs on aeroplanes is disgusting. You should wipe your
(04:16):
trade table before you eat off it and sanitize your
hands regularly during the journey so you don't get sick.
So you go dress up, sanitize. What was the other one, Oh,
noise canceling headphones. See you go, Sam Dicky nex Shoo.
Speaker 1 (04:35):
For more from Heather dupless Yellen Drive, listen live to
news talks he'd be from four pm weekdays, or follow
the podcast on iHeartRadio
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