December 9, 2024 • 11 mins
Tonight on The Huddle, Trish Sherson from Sherson Willis PR and Josie Pagani from Child Fund joined in on a discussion about the following issues of the day - and more!
The Government plans to inject more capital into Kiwibank in a bid to beef up competition among the banks off the back of a new Commerce Commission report. Will this work?
Two new polls out tonight - and they're not looking too great for National or Labour. How can they turn their luck around?
Businesses across Auckland have hit out at Auckland Transport over their 'bus to the mall' Christmas campaign. Is this a bad look for AT?
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
So Nichola Willis has huffed and she has puffed, and
will she blow the bank's house down? That is the
big question. Tris Shurson Shurson Willis pr is with us
this evening. Good evening, good evening. I've seen you and
Joc Beganni's here CEO of child Fun Curderer, good to
see you too. Tell me has she done enough? Trish?
Do you think in an accepting all fourteen recommendations from
the Commerce Commission and beefing up Key bankcase she done
(00:22):
enough to put them on notice.
Speaker 2 (00:23):
I don't think there were any surprises in today's announcement.
All of this has been relatively well signaled, and in fact,
if I cast my mind back to when the Commics
Commission made its recommendations with its final report back in August,
pretty sure even all of the major banks accepted all
of those recommendations. You know. Part of the new news
(00:46):
today is around this beefing up of Kibank, although that
was already well signaled, the fact it would need a
capital injection, and then this longer term thought about potentially
an IPO down the track. The point, I think is
an interesting one. Here is the difference between a challenger
and a disruptor. So yes, Kiwi Bank might be a challenger.
(01:09):
So it's a traditional style bank that's going to be
beefed up. It's doing well, it's taking significant market share
at the moment, particularly in the home loan and business areas.
But what you've seen from markets like the UK is
where true disruptors have come into banking. That's like your
Monzo's that are absolutely pure digital banks. They don't have
(01:31):
branches or any of that sort of physical bricks and
water infrastructure, so they can keep fees down. This year
we've had a New Zealand startup called Doosh apply to
be a registered bank, first application in twenty years. They
want to do just that, they would be online only
had another another operator apply to be a registered bank
(01:51):
just this week again the first ones in twenty years.
So I think that's actually a good signal.
Speaker 1 (01:57):
So the real challenge might come not from keep me Bank,
but from actually these newbies.
Speaker 3 (02:02):
What do you reckon, Josie, Yeah, I think this is
a really good sign because if you think back to
that trash remember of years ago ATM companies, new ATM
disruptors were trying to get into the market and the
big banks would go they we just wouldn't let them
have access to the platform, right, and so here what
they've done. The governments accepted all of the Commics Commission's recommendations,
one of which is to loosen the definition of bank,
(02:25):
so that would kind of allow the disruptors to come in.
The other is, you know, to give access to that
payment platform. So at the moment when you do your
tap and pay that's a new piece of technology with
our phones, you're paying two percent of that, you know,
straight to Visa and MasterCards. So they're fleecing us. They're
fleecing the retail sector actually in New Zealand. So I
(02:47):
think breaking up you know, the monopolies or the duopolies
or the whatever monopolies and allowing competition to come in
is a huge thing. You think of those sectors that
don't have competitions, parking, supermarkets, they're the ones that are
charging us so much money.
Speaker 1 (03:05):
That thinks that the banks themselves, and I suppose they
have a self interest here, but they argue that they
do have competition and the market and when you compare
us to countries around the world on a per capita basis,
et cetera, it's actually not all bad here.
Speaker 2 (03:18):
Also, let's remember that we have not had a banking
failure in New Zealand. So yes we can say we
want things to be better, but we are a small
market at the bottom of the world. And look at
the big markets where there has been huge competition. The
US government has had to bail out, make significant bailouts
because of banking failures as recently as two years ago.
Speaker 1 (03:38):
But take I'm not don't want to cut your topike.
Speaker 2 (03:44):
That's exactly That's exactly it.
Speaker 1 (03:45):
All right, it is eighteen away from six News TALKSB.
We're back with the huddle in just a second. Welcome back.
It has just gone record it to six News TALKSB
and the Huddle is with me this evening. Trishuson, Huston,
will us PR and Jose Bigani's CEO of Child Fun.
Welcome back team. So we've got poles galore today, We've
got the one News pole coming out in about half
an hour, well shortly, and we will hear from Nikola
(04:07):
Willis on that just after six. But also today we
had the taxpayer Union Curier poll which had National and
Labor both down four point six points, which is a
big drop Act up four point five to thirteen, Josie,
is this Seemour's strategy working.
Speaker 3 (04:24):
I think it is, and it's also to Party Marty's
strategy working.
Speaker 2 (04:27):
Right.
Speaker 3 (04:28):
So for the smaller parties, their strategy is always to
bring out the voters on the fringes. They're not going
for your middle road, middle of the road voters, you
CenTra central voters. So yes, it's succeeding. You know, you
have you have strong opinions to Party Marty. You call
everybody a white supremacist and whatever genocide KKK and act.
(04:48):
You're going right, We're going to everybody's going to be equal,
and we're going to ignore the distinct privileges that were
given to Mary under the treaty as they would see it. Right,
So you bring out, you bring out your base. The
big losers in this are both National and Labor for
different reasons, right, So I would say for National they're
failing at the moment. I think they've got a plan,
(05:10):
they're just not communicating it. They're not bringing the country
with them. And the Hikoy would have been a perfect
example where you would expect a prime minister to step
up and unify the country and go. Disagreement is different
to disunity. I encourage disagreement. We can disagree and we
will unify after this and we will have this debate
at a vacuum. Labor is different again, right, Labor. I
(05:33):
think they're failing that they're looking like the government and
opposition with Labor to Party Marti, the Greens. That's a
problem for them because it looks messy.
Speaker 1 (05:41):
Yeah, Trish, is this in part because of Luxean's strengthening
is rhetoric and his language around the Treaty Principle's bill.
These are national voters saying screw you, I'm going to act.
Speaker 2 (05:53):
Yeah, that's right. I'm not surprised to see that movement
off to act around the Treaty Principle bill. But the
part of this poll that I'm actually really interested in
is what are the issues that Kiwi's care about, because
this is what politicians need to keep their focus on.
What are the issues they care about and how has
that moved since last year? So last year was cost
(06:14):
of living number one and Laura and Order number two,
and they kept switching in and out. In this poll,
you've got the economy at number one, and then you
have got the cost of living at number two and
then you've got health in at number three. Now this
is really important for ACT and for National because there
(06:34):
are a lot of ACT voters who actually go, you've
spent enough time on the treaty and you're missing out
now when the economy is so critical, and ACT should
be really important in that debate. For National also, there
are a lot of voters who feel like next year
is going to be even tougher, like we're not going
(06:55):
to we're not making huge gains. And I think National
has to be careful that it's rhetoric on the economy,
just telling us over and over that inflation's down and
interest rates are under control. So this is what I
heard recently. It was Nicole Willis said, so businesses can
they're ready to start employing and things. Businesses don't have
that in reserve. And I think what the government has
(07:17):
to do is temper it's rhetoric on the economy to
meet where business is actually at. Next year for them
is going to be very tough on the economy as
a numbers Yet worse.
Speaker 3 (07:26):
Labor needs to stop talking about or stop being the
political party of the public sector, because that's also not
being that many support either. So you're right, pick the
things that voters say are the things. And I think
for most voters, even you know, they're basically supportive of
the treaty and the treaty process. They don't think we
should be having this massive kind of race debate. It
doesn't feel like it's something that New Zealanders want to
(07:47):
have and it's not coming up in what are people
most concerned about. We're not concerned that we have a
major race problem in this country.
Speaker 1 (07:54):
Yeah, let's talk. It's interesting, isn't it, Because they have
almost declared victory on their economy, the National Party, and
it's just not going down too well with business and excel.
Speaker 2 (08:06):
And to your point in your editorial, don't forget how
governments have been punished by voters who feel they're going
back totally.
Speaker 1 (08:13):
And remember it wasn't that long ago that just Cinda
a Dune on a morning TV breakfast show said no,
it's not a cost of living crisis. And in fact,
today Auckland businesses this is on k road. I love
this story. Well, I don't love it because it's bad,
but Auckland Transport has been forced to take down ads
they encourage people to bust to the mall. This is
(08:37):
for Christmas to do their their shopping and small businesses
are upset with this. The poster said, jingle bells, jingle bells,
jingle to the mall. Oh what fun it is to
ride with no parking queues at all. So very clever,
But but to the mall has upset your K Road retailers,
your smaller businesses who are missing out on the action.
Speaker 2 (08:57):
Fair enough, well before we even get to the utter
stupidity of the campaign itself. Two words I never want
to hear at Christmas a bus and more so so
you have lost me. That doesn't seem like a stress
reliever for me personally. Well, there's two things. One is,
if you're running a campaign like this, it feels far
(09:18):
too late in the game. We're at the ninth of
December already. Two, I absolutely get for businesses on K Road, Pontsmbe,
Central Auckland, you name it, where these streets have been
ripped up, closed down road coned, you would be absolutely
outraged that AT is sending your customers off to the mall.
Speaker 3 (09:38):
Isn't it a good thing that AT is actually going
to come under the council perview from now on because
the other thing is I feel like this is at
what point you're going to run Auckland rather than running
Auckland families to do what AT wants. Why doesn't AT
run the Auckland Transport to do what families want, which
is to get around and how many peop.
Speaker 1 (10:00):
That's an awesome point, as I say, not as.
Speaker 3 (10:03):
I do like either take that you know, this is
the whole thing that oh you know, cycle to hospital,
to have your baby, go on the bus, to do
your take your kids to sports on the bus, and
now do your goddamn Christmas shopping on the bus as well.
Speaker 1 (10:15):
Because that's the other thing I mean asign from the moor,
how did you get your stuff home on a bus? Yeah?
And you're buying.
Speaker 2 (10:24):
I mean unless it's a particular center sackers, particularly like
this year only he only.
Speaker 1 (10:29):
Does gift is now sorry kids, because no, it's ridiculous.
And also on the Auckland transport thing, yes we're sort
of emasculating allcand transport, but we're giving the power for
cycle ways, for raised pedestrian crossings, for speed limits, all
of these things triggering us right, I'm sorry where they're
(10:51):
going local boards well, there's far left of Auckland Transport.
It's a local board.
Speaker 2 (10:55):
And having lived in a small part of Auckland where
they made a cycle lane, that were like trying to
play that old roller ball game, you know, where you
have the ball that goes around the tiny wooden thing.
It was all over the show. I've never seen anything
more ridiculous. I feel as nervous about the council getting
in control of this as I have about at all.
Speaker 1 (11:15):
Right, guys, thank you very much for coming in great
huddle Josey Beganey and Tris Shuson. It is seven away
from six News TALKSB. For more from Heather Duplessy Allen Drive,
listen live to News TALKSB from four pm weekdays, or
follow the podcast on iHeartRadio
So Nichola Willis has huffed and she has puffed, and
will she blow the bank's house down? That is the
big question. Tris Shurson Shurson Willis pr is with us
this evening. Good evening, good evening. I've seen you and
Joc Beganni's here CEO of child Fun Curderer, good to
see you too. Tell me has she done enough? Trish?
Do you think in an accepting all fourteen recommendations from
the Commerce Commission and beefing up Key bankcase she done
(00:22):
enough to put them on notice.
Speaker 2 (00:23):
I don't think there were any surprises in today's announcement.
All of this has been relatively well signaled, and in fact,
if I cast my mind back to when the Commics
Commission made its recommendations with its final report back in August,
pretty sure even all of the major banks accepted all
of those recommendations. You know. Part of the new news
(00:46):
today is around this beefing up of Kibank, although that
was already well signaled, the fact it would need a
capital injection, and then this longer term thought about potentially
an IPO down the track. The point, I think is
an interesting one. Here is the difference between a challenger
and a disruptor. So yes, Kiwi Bank might be a challenger.
(01:09):
So it's a traditional style bank that's going to be
beefed up. It's doing well, it's taking significant market share
at the moment, particularly in the home loan and business areas.
But what you've seen from markets like the UK is
where true disruptors have come into banking. That's like your
Monzo's that are absolutely pure digital banks. They don't have
(01:31):
branches or any of that sort of physical bricks and
water infrastructure, so they can keep fees down. This year
we've had a New Zealand startup called Doosh apply to
be a registered bank, first application in twenty years. They
want to do just that, they would be online only
had another another operator apply to be a registered bank
(01:51):
just this week again the first ones in twenty years.
So I think that's actually a good signal.
Speaker 1 (01:57):
So the real challenge might come not from keep me Bank,
but from actually these newbies.
Speaker 3 (02:02):
What do you reckon, Josie, Yeah, I think this is
a really good sign because if you think back to
that trash remember of years ago ATM companies, new ATM
disruptors were trying to get into the market and the
big banks would go they we just wouldn't let them
have access to the platform, right, and so here what
they've done. The governments accepted all of the Commics Commission's recommendations,
one of which is to loosen the definition of bank,
(02:25):
so that would kind of allow the disruptors to come in.
The other is, you know, to give access to that
payment platform. So at the moment when you do your
tap and pay that's a new piece of technology with
our phones, you're paying two percent of that, you know,
straight to Visa and MasterCards. So they're fleecing us. They're
fleecing the retail sector actually in New Zealand. So I
(02:47):
think breaking up you know, the monopolies or the duopolies
or the whatever monopolies and allowing competition to come in
is a huge thing. You think of those sectors that
don't have competitions, parking, supermarkets, they're the ones that are
charging us so much money.
Speaker 1 (03:05):
That thinks that the banks themselves, and I suppose they
have a self interest here, but they argue that they
do have competition and the market and when you compare
us to countries around the world on a per capita basis,
et cetera, it's actually not all bad here.
Speaker 2 (03:18):
Also, let's remember that we have not had a banking
failure in New Zealand. So yes we can say we
want things to be better, but we are a small
market at the bottom of the world. And look at
the big markets where there has been huge competition. The
US government has had to bail out, make significant bailouts
because of banking failures as recently as two years ago.
Speaker 1 (03:38):
But take I'm not don't want to cut your topike.
Speaker 2 (03:44):
That's exactly That's exactly it.
Speaker 1 (03:45):
All right, it is eighteen away from six News TALKSB.
We're back with the huddle in just a second. Welcome back.
It has just gone record it to six News TALKSB
and the Huddle is with me this evening. Trishuson, Huston,
will us PR and Jose Bigani's CEO of Child Fun.
Welcome back team. So we've got poles galore today, We've
got the one News pole coming out in about half
an hour, well shortly, and we will hear from Nikola
(04:07):
Willis on that just after six. But also today we
had the taxpayer Union Curier poll which had National and
Labor both down four point six points, which is a
big drop Act up four point five to thirteen, Josie,
is this Seemour's strategy working.
Speaker 3 (04:24):
I think it is, and it's also to Party Marty's
strategy working.
Speaker 2 (04:27):
Right.
Speaker 3 (04:28):
So for the smaller parties, their strategy is always to
bring out the voters on the fringes. They're not going
for your middle road, middle of the road voters, you
CenTra central voters. So yes, it's succeeding. You know, you
have you have strong opinions to Party Marty. You call
everybody a white supremacist and whatever genocide KKK and act.
(04:48):
You're going right, We're going to everybody's going to be equal,
and we're going to ignore the distinct privileges that were
given to Mary under the treaty as they would see it. Right,
So you bring out, you bring out your base. The
big losers in this are both National and Labor for
different reasons, right, So I would say for National they're
failing at the moment. I think they've got a plan,
(05:10):
they're just not communicating it. They're not bringing the country
with them. And the Hikoy would have been a perfect
example where you would expect a prime minister to step
up and unify the country and go. Disagreement is different
to disunity. I encourage disagreement. We can disagree and we
will unify after this and we will have this debate
at a vacuum. Labor is different again, right, Labor. I
(05:33):
think they're failing that they're looking like the government and
opposition with Labor to Party Marti, the Greens. That's a
problem for them because it looks messy.
Speaker 1 (05:41):
Yeah, Trish, is this in part because of Luxean's strengthening
is rhetoric and his language around the Treaty Principle's bill.
These are national voters saying screw you, I'm going to act.
Speaker 2 (05:53):
Yeah, that's right. I'm not surprised to see that movement
off to act around the Treaty Principle bill. But the
part of this poll that I'm actually really interested in
is what are the issues that Kiwi's care about, because
this is what politicians need to keep their focus on.
What are the issues they care about and how has
that moved since last year? So last year was cost
(06:14):
of living number one and Laura and Order number two,
and they kept switching in and out. In this poll,
you've got the economy at number one, and then you
have got the cost of living at number two and
then you've got health in at number three. Now this
is really important for ACT and for National because there
(06:34):
are a lot of ACT voters who actually go, you've
spent enough time on the treaty and you're missing out
now when the economy is so critical, and ACT should
be really important in that debate. For National also, there
are a lot of voters who feel like next year
is going to be even tougher, like we're not going
(06:55):
to we're not making huge gains. And I think National
has to be careful that it's rhetoric on the economy,
just telling us over and over that inflation's down and
interest rates are under control. So this is what I
heard recently. It was Nicole Willis said, so businesses can
they're ready to start employing and things. Businesses don't have
that in reserve. And I think what the government has
(07:17):
to do is temper it's rhetoric on the economy to
meet where business is actually at. Next year for them
is going to be very tough on the economy as
a numbers Yet worse.
Speaker 3 (07:26):
Labor needs to stop talking about or stop being the
political party of the public sector, because that's also not
being that many support either. So you're right, pick the
things that voters say are the things. And I think
for most voters, even you know, they're basically supportive of
the treaty and the treaty process. They don't think we
should be having this massive kind of race debate. It
doesn't feel like it's something that New Zealanders want to
(07:47):
have and it's not coming up in what are people
most concerned about. We're not concerned that we have a
major race problem in this country.
Speaker 1 (07:54):
Yeah, let's talk. It's interesting, isn't it, Because they have
almost declared victory on their economy, the National Party, and
it's just not going down too well with business and excel.
Speaker 2 (08:06):
And to your point in your editorial, don't forget how
governments have been punished by voters who feel they're going
back totally.
Speaker 1 (08:13):
And remember it wasn't that long ago that just Cinda
a Dune on a morning TV breakfast show said no,
it's not a cost of living crisis. And in fact,
today Auckland businesses this is on k road. I love
this story. Well, I don't love it because it's bad,
but Auckland Transport has been forced to take down ads
they encourage people to bust to the mall. This is
(08:37):
for Christmas to do their their shopping and small businesses
are upset with this. The poster said, jingle bells, jingle bells,
jingle to the mall. Oh what fun it is to
ride with no parking queues at all. So very clever,
But but to the mall has upset your K Road retailers,
your smaller businesses who are missing out on the action.
Speaker 2 (08:57):
Fair enough, well before we even get to the utter
stupidity of the campaign itself. Two words I never want
to hear at Christmas a bus and more so so
you have lost me. That doesn't seem like a stress
reliever for me personally. Well, there's two things. One is,
if you're running a campaign like this, it feels far
(09:18):
too late in the game. We're at the ninth of
December already. Two, I absolutely get for businesses on K Road, Pontsmbe,
Central Auckland, you name it, where these streets have been
ripped up, closed down road coned, you would be absolutely
outraged that AT is sending your customers off to the mall.
Speaker 3 (09:38):
Isn't it a good thing that AT is actually going
to come under the council perview from now on because
the other thing is I feel like this is at
what point you're going to run Auckland rather than running
Auckland families to do what AT wants. Why doesn't AT
run the Auckland Transport to do what families want, which
is to get around and how many peop.
Speaker 1 (10:00):
That's an awesome point, as I say, not as.
Speaker 3 (10:03):
I do like either take that you know, this is
the whole thing that oh you know, cycle to hospital,
to have your baby, go on the bus, to do
your take your kids to sports on the bus, and
now do your goddamn Christmas shopping on the bus as well.
Speaker 1 (10:15):
Because that's the other thing I mean asign from the moor,
how did you get your stuff home on a bus? Yeah?
And you're buying.
Speaker 2 (10:24):
I mean unless it's a particular center sackers, particularly like
this year only he only.
Speaker 1 (10:29):
Does gift is now sorry kids, because no, it's ridiculous.
And also on the Auckland transport thing, yes we're sort
of emasculating allcand transport, but we're giving the power for
cycle ways, for raised pedestrian crossings, for speed limits, all
of these things triggering us right, I'm sorry where they're
(10:51):
going local boards well, there's far left of Auckland Transport.
It's a local board.
Speaker 2 (10:55):
And having lived in a small part of Auckland where
they made a cycle lane, that were like trying to
play that old roller ball game, you know, where you
have the ball that goes around the tiny wooden thing.
It was all over the show. I've never seen anything
more ridiculous. I feel as nervous about the council getting
in control of this as I have about at all.
Speaker 1 (11:15):
Right, guys, thank you very much for coming in great
huddle Josey Beganey and Tris Shuson. It is seven away
from six News TALKSB. For more from Heather Duplessy Allen Drive,
listen live to News TALKSB from four pm weekdays, or
follow the podcast on iHeartRadio
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