Photo: RNZ / Reece Baker
The Prime Minister says he still holds out hopes that banks will respond to the government's desire for more competition in the sector.
Christopher Luxon told Morning Report the potential private capital injection of up to $500 million into Kiwibank could prove to be a catalyst.
He says the capitalisation will make the sector more disruptive and he wants a greater move towards open banking and allowing customers more flexibility and less restrictions in being able to shift.
The government will decide on what extent they will look to prop up Kiwibank by March next year, he says.
Finance Minister Nicola Willis says the banks need to get on and do what is needed as required by the Commerce Commission as they've been "dragging their heals".
Meanwhile, nurses are set to begin rolling strikes in Auckland on Tuesday and it's been revealed health workers are being asked to 'fill in' on reception.
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