Roger Partridge: Why the RBNZ's "gold-plating' may be costing you

The Government has long promised an inquiry into banking competition. With the Finance and Expenditure Select Committee (FEC) about to begin its work, that time has finally come.

Politicians and economists often champion competition in banking. But competition is just a means to an end. The real goal is an efficient financial system providing services at the lowest cost customers are willing to pay.