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Jamie Mackay: The Country host on Federated Farmers firing back at Westpac over emissions targets · Best of Business

• 0:09
  Speaker 1: You're listening to a podcast from News Talk. Z'd be
• 0:12
  Speaker 1: follow this and our Wide Ranger podcast now on iHeartRadio.
• 0:16
  Speaker 2: Jamie mckaye hosts of the Countries with Me right now, Jamie, Hello.
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  Speaker 3: Hello here, that just before I get stuck into the banks,
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  Speaker 3: I might just get stuck into your family. Who actually
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  Speaker 3: honors the bets and your family because Barry's gone to the
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  Speaker 3: ground over my Trump.
• 0:30
  Speaker 2: Nothing's to do with me, nothing to do with me.
• 0:32
  Speaker 2: You know, he's got he's deranged, you know that about Trump,
• 0:35
  Speaker 2: Like he's he is so sad. He doesn't admit this,
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  Speaker 2: but he's so sad that Karmela's lost because he can't
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  Speaker 2: believe anybody can can vote for Trump.
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  Speaker 1: That I don't.
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  Speaker 2: I don't know, Jamie. It might take him a while
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  Speaker 2: to come around to the idea. First he has to
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  Speaker 2: go through the process of the denial, then the acceptance,
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  Speaker 2: then the anger. Then he will pay you your bet.
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  Speaker 3: I might be a seventy eight year old man by then.
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  Speaker 3: Tell tell him to hurry up a bet to bet,
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  Speaker 3: especially with family too.
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  Speaker 2: Right now, what is going on with wispec And as
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  Speaker 2: it turns out, now B and Z as well going
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  Speaker 2: hard on our deary farmers, not on the Aussies.
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  Speaker 3: Don't start me. I heard you just before the six
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  Speaker 3: o'clock news saying who makes the banks the carbon police?
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  Speaker 3: And that's exactly what Federated Farmers are saying. And good
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  Speaker 3: on them. They're Banking Inquiry spokesperson Richard McIntyre. I think
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  Speaker 3: you might have him on the show yesterday that you
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  Speaker 3: is leading the charge on this and doing a good job.
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  Speaker 3: So you know, as you said, they're asking these zealandairy
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  Speaker 3: farmers to meet higher emissions reductions targets than Ossie farmers.
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  Speaker 3: Totally unfair, totally unfair. Absolutely The latest banking surveys incidentally
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  Speaker 3: have a showed that only one and eleven farmers supported
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  Speaker 3: banks setting climate change targets. As Richard McIntire said, we've
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  Speaker 3: already had emission targets that have been set by the government.
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  Speaker 3: They are who should be setting it. And plus to
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  Speaker 3: add to that you've got your milk and meat companies
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  Speaker 3: dipping in as well, so the bank should stay out
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  Speaker 3: of it. And what I would say even to those
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  Speaker 3: meat and milk companies, heathers, if you want lower emissions
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  Speaker 3: farmers at farming and farmers reward the behavior, pay a premium.
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  Speaker 3: Where is this wonderful premium that we're getting off shore
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  Speaker 3: for our lower missions produce? At the moment, there isn't one.
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  Speaker 3: That's why they're not paying a premium. When they do,
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  Speaker 3: farmers will change their behavior or change their farming practice
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  Speaker 3: to suit. But I mean, we've now got Trump and
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  Speaker 3: Barry's mate and he's going to drill, baby drill. So
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  Speaker 3: to what end are we saving the planet?
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  Speaker 2: Oh, Jamie? I mean there is an argument here that
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  Speaker 2: the Australian owned banks are actually giving Australian dairy farmers
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  Speaker 2: a competitive advantage over our farmers.
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  Speaker 3: Oh, it would seem odd. It would seem odd to
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  Speaker 3: me that one. I don't know. Look, I'm just dead
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  Speaker 3: against the banks poking their nose at all. I don't think. Look,
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  Speaker 3: they would be better off, much better off, Heather, and
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  Speaker 3: hopefully the Banking Inquiry shows this. To spend their time
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  Speaker 3: going through their books and looking at their risk margins
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  Speaker 3: they've placed upon farming clients and especially some of the usurers.
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  Speaker 3: Is that the right word usury? Yeah? Okay, rates they're
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  Speaker 3: applying on overdrafts to farmers. Look, you can talk about
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  Speaker 3: security and farms having higher risk than residential lending. But
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  Speaker 3: I put it to you, if you've got a farm
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  Speaker 3: with say fifty percent equity, remember these same banks are
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  Speaker 3: lending on residential properties with eighty sometimes ninety percent, borrowing,
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  Speaker 3: ten percent, ten or twenty percent equity. You can't tell
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  Speaker 3: me that if you're lending to a farm with fifty
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  Speaker 3: percent equity or better, that if it all turned to custard,
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  Speaker 3: you can't sell them out and get your money back
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  Speaker 3: in a reasonably short period of time. Look, they are
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  Speaker 3: safe as houses to use the bad.
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  Speaker 2: Pun now, it's a fair point to make. Jamie, Thank
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  Speaker 2: you so much. As always, Jamie McKay, Host of the Country.
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