Less hot air
OPINION: Farmers won't get any credit for this from the daily media, so Milking It is giving the bouquets where they’re due.
He also mentions the building supplies industry. But Joyce definitely has a point when it comes to the big-four banks: "One of the stark revelation from the ComCom's analysis is that a large bank can hold 15 per cent less capital of its own behind each loan it makes than a small bank must. That puts small banks at an immediate disadvantage to the large ones, as the capital their shareholders provide is effectively regulated to make a lower return."
As he says, the big four are "fat and happy" and unlikely to face serious competition under current law.
