Heritage Bank to challenge Big 4, exploits Royal Commission fallout

The federal government has been warned that cutting interest rates along won't be enough push wages higher. Advisory firm Ernst & Young says urgent action is needed to deal the skills gap in Australia and stubborn under-employment. 

Also ABC's Peter Ryan speaks with Heritage Bank chief executive Peter Lock who has announced the mutual is going national with bricks and mortar branches in Sydney and Melbourne, in a challenge to the major banks.