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Duncan Webb: Commerce and Consumer Affairs Minister says quick fix won't solve structural issues in the banking sector

EPISODE · Jun 20, 2023 · 3 MIN

Duncan Webb: Commerce and Consumer Affairs Minister says quick fix won't solve structural issues in the banking sector

from Best of Business · host Newstalk ZB

The Government says there's no quick fix for the banking sector. It's ordered the Commerce Commission to probe bank profits and competition. A preliminary paper's due in August, and a final report a year later. Commerce and Consumer Affairs Minister Duncan Webb says simply pumping money into Kiwibank isn't the answer. "There might be structural issues in the market. It's not my call where the capital goes, but just doing that wouldn't fix any structural issues. We want to know what is actually going on." LISTEN ABOVESee omnystudio.com/listener for privacy information.

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Duncan Webb: Commerce and Consumer Affairs Minister says quick fix won't solve structural issues in the banking sector

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