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Speaker 1: Pressing the newsmakers to get the real story.

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Speaker 2: It's Jack tame On, Hither Duplicy allan drive with one

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Speaker 2: New Zealand, Let's get connected new Storg said.

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Speaker 3: B newsk said B. Jack tam in the hot seat

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Speaker 3: for Heather Duplicity Alan. Before five o'clock this evening, we

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Speaker 3: will take you to ground zero as this enormous hurricane

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Speaker 3: makes its way to the United States. Tampa is under

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Speaker 3: an evacuation order. Millions of people in the potential path

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Speaker 3: of this hurricane now fleeing, and some of the numbers

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Speaker 3: behind it they begar belief. I mean they say that

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Speaker 3: if there could be a category six hurricane, this would

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Speaker 3: be a category six hurricanes. So I'm going to give

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Speaker 3: you the details on that very shortly. Let you know

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Speaker 3: when it is due to make landfall. We'll take a

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Speaker 3: close look at the ocr and speaking of America and

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Speaker 3: big things in America, Cinnabon is headed to New Zealand.

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Speaker 3: All the details very shortly.

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Speaker 4: Now.

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Speaker 3: It's eight past four, Jack Team. So I fixed my

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Speaker 3: entire mortgage in three weeks time, right. I had one

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Speaker 3: that was coming off like an eighteen month thing, one

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Speaker 3: that was coming off A couple of years or whatever,

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Speaker 3: the whole thing gets refixed in three weeks time, and

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Speaker 3: so I find myself with the curious kind of conundrum

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Speaker 3: that I think most of us with bog standard family

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Speaker 3: home mortgages could not have imagined at any point in

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Speaker 3: the last few years. At two o'clock, I waited for

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Speaker 3: the email to land from the Monetary Policy Committee. I

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Speaker 3: speed read the Reserve Bank statement and found myself left

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Speaker 3: with a simple question. Instead of fixing my mortgage at

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Speaker 3: the end of this month, am I better to roll

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Speaker 3: the dice float for four or five weeks and hold

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Speaker 3: out for another cut in November? Fifty basis points is

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Speaker 3: a meaningful cut, So I did back of the envelope

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Speaker 3: sums if you've got a four hundred thousand dollars mortgage

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Speaker 3: and you're coming off, say a seven point two onto

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Speaker 3: the market leading five point seven being advert tires for

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Speaker 3: a one year mortgage today, that is a difference of

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Speaker 3: five hundred bucks a month in your back pocket. And

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Speaker 3: what's clear from the Reserve Bank's comments is that, like

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Speaker 3: it was on the way up, the cutting cycle is

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Speaker 3: still likely to have disproportioned impacts depending on different circumstances.

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Speaker 3: As the ocr comes down. Our economy is growing, international

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Speaker 3: growth is slowing. In the Middle East conflict has the

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Speaker 3: potential to cause a global oil shock, and with an

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Speaker 3: unemployment rate that lags the cash rate cycle, we could

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Speaker 3: still add the best part of one hundred basis points

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Speaker 3: maybe to our unemployment rate. It's at four point six

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Speaker 3: right now. Treasury and the Reserve Bank thought would be

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Speaker 3: well above five come the middle of next year. The

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Speaker 3: Reserve Bank might be cutting faster than they anticipated just

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Speaker 3: a few months ago, but it certainly won't come nearly

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Speaker 3: fast enough for many thousands of New Zealanders who are

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Speaker 3: likely going to lose their jobs over the next few months.

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Speaker 3: The NPS in November is the last cash rate decision

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Speaker 3: for twenty two twenty four and the last for the

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Speaker 3: best part of three months. My period for the pick

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Speaker 3: for the time, My pick for the period between now

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Speaker 3: and then is that calls for more significant cuts, maybe

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Speaker 3: even to something akin to the neutral cash rate, will

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Speaker 3: only continue to intensify. Our economy might have a taste

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Speaker 3: of relief, but it is crying out for so so

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Speaker 3: much more.

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Speaker 1: Jack Team nine.

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Speaker 3: Nine two is our text number. Don't forget that if

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Speaker 3: you're sending us a text standard text cost supply. You

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Speaker 3: can email me as well, jacket newstalks. He'db dot co

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Speaker 3: dot NZ. It's ten past four. Two former members of

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Speaker 3: a committee that is tasked with checking over assisted deaths

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Speaker 3: to ensure that the law has worked as it should

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Speaker 3: say the system is broken and they wouldn't have known

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Speaker 3: if someone had wrongly died. Doctors Jane Greville and Danna

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Speaker 3: Wensley repeated repeatedly raised concerns about incomplete information regarding a

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Speaker 3: patient's health and the risk of coercion. In one case,

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Speaker 3: a patient with suspected dementia who couldn't speak English was

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Speaker 3: apparently approved for assisted dying without a trans Later in

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Speaker 3: the room, ACT leader David Seymour was, of course, a

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Speaker 3: major proponent for the end of Life Choice Act Enders

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Speaker 3: with us now got a good afternoon, Good afternoon, What

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Speaker 3: do you think of these concerns?

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Speaker 5: Well, first of all, these are two people that sound

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Speaker 5: somewhat aggrieved, and I'd want to know the full story.

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Speaker 5: But on the face of it, the law that I

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Speaker 5: helped make five years ago said that a physician must

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Speaker 5: communicate with the person who's seeking assisted dying at regular

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Speaker 5: intervals suitable to the progression of their illness. Now it

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Speaker 5: is I guess possible that in some cases you might

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Speaker 5: not communicate verbally, such as if that person was unable

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Speaker 5: to talk. However, you'd certainly want to inquire and investigate

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Speaker 5: how somebody could do that if they didn't have the

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Speaker 5: same language or a translator. But I think it's a

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Speaker 5: little unfair to say that there's no way to investigate that.

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Speaker 5: I just checked the annual report for the year two

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Speaker 5: during this year and it says that there are twenty

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Speaker 5: two complaints. There are three that remain ongoing at the

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Speaker 5: time of the twenty twenty four report, and of those,

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Speaker 5: by far the most common complaint was people being obstructed

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Speaker 5: from trying to get access to assisted dying. When they say, oh,

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Speaker 5: there's not enough information and there's no way that people

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Speaker 5: can find out what's going on through this process. Well,

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Speaker 5: you know, people frequently make complaints overwhelmingly that are closed

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Speaker 5: in a short period of time. Mostly actually people are

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Speaker 5: not being able to get access to assisted dying when

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Speaker 5: they want it to.

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Speaker 3: Be clear, though, physicians don't have to be involved in

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Speaker 3: end of life choice if they choose not to do

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Speaker 3: and an assisted dying if they choose not to to

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Speaker 3: be on this panel operating in the roles that these

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Speaker 3: two doctors were operating in. Did they have to be

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Speaker 3: supporters of the Act in the first place?

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Speaker 5: No, it would be improper to ask about someone's political

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Speaker 5: position before appointing them to any government entity. But you

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Speaker 5: would hope that if they stepped up, then they would

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Speaker 5: at least be an agreement that it's a legitimate choice

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Speaker 5: for people to make, and prepared to administer the law

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Speaker 5: to the best of their abilities.

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Speaker 3: Well, that's my point. But it's not necessarily a political perspective,

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Speaker 3: but rather a question of conscience, right, And it's not

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Speaker 3: your understanding that in order to be on this oversight

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Speaker 3: committee that they actually had to necessarily support end of

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Speaker 3: life choice and principle.

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Speaker 5: Well, no, Look, I've actually been involved in appointing new

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Speaker 5: people to the committee. I've had people put forward by

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Speaker 5: the Ministry of Health and recommended to me, and I've

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Speaker 5: certainly had a look at their credit and what sort

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Speaker 5: of qualifications they have, whether they've made any public statements

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Speaker 5: for or against it, Because you certainly wouldn't want to

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Speaker 5: appoint someone who was one of these diet and the

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Speaker 5: Wall opponents who sought to be appointed in order to

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Speaker 5: obstruct people from accessing what they have a right to

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Speaker 5: access under the law. But I certainly would have thought

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Speaker 5: that the key thing is are they capable of doing

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Speaker 5: the job and are they doing it in good faith?

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Speaker 3: Doctor Greville says that the committee was quote restrained to

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Speaker 3: the point of irrelevance. I know you said that the

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Speaker 3: Act was imperfect when it was introduced. Are they changes

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Speaker 3: you would make to the committee's overside?

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Speaker 5: Look, I think it's important to acknowledge that one of

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Speaker 5: the things I put in the Act is the need

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Speaker 5: to have a review after the first three years, and

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Speaker 5: then every five years after that. So the first review

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Speaker 5: is happening now because the Act came into force in

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Speaker 5: November twenty twenty one. So the report will come out

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Speaker 5: next month on the first three years. And I'm you know,

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Speaker 5: I mean, I'm not responsible for the bill anymore. It's

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Speaker 5: been passed its own by everybody. But I certainly personally

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Speaker 5: would be open to listening to what people say and

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Speaker 5: making changes. I just if you don't mind me just

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Speaker 5: challenging one thing it's said there When I said it

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Speaker 5: was imperfect, I actually think that we made it overly restrictive.

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Speaker 5: In particular for political reasons to get the numbers to

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Speaker 5: pass it. I actually put a six month requirement, so

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Speaker 5: you have to have two doctors say you're likely to

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Speaker 5: die within six months. There's some people with conditions such

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Speaker 5: as Huntington's mode neuron disease long term degenerative diseases who

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Speaker 5: won't die within six months, but that just means that

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Speaker 5: they're suffering even more. I think they should have a choice.

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Speaker 5: And Todd Stevenson, whom you interviewed on your TV show

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Speaker 5: a few weeks ago, has actually brought a bill to

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Speaker 5: Parliament which I hope will be debated soon to actually

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Speaker 5: widen access in that regard. So when you say I

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Speaker 5: say it's imperfect, that that's the criticism I have my own.

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Speaker 3: Yeah, no, sorry, I didn't mean. I wasn't trying to

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Speaker 3: resume you misrep visin you. I mean, yeah, you were

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Speaker 3: pretty clear about that at the time and felt that

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Speaker 3: that was a compromise that allowed the builder pass into law. Hey,

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Speaker 3: just for we let you go.

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Speaker 5: I s are thoughts well, New Zealanders have finally got

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Speaker 5: off the nauseating rollercoaster of fiscal and monetary policy. I

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Speaker 5: thought your intro was very good. It's the start of relief,

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Speaker 5: but it is still going to take a while to

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Speaker 5: kick in, and people are making choices about when to

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Speaker 5: refix their mortgage rates and so on. For my money,

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Speaker 5: i'd go with a six month fix and just hedge

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Speaker 5: and see where they go for the next six months.

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Speaker 5: But you know, I don't think people should take that

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Speaker 5: sort of financial advice from politicians. Just as a disclaimer.

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Speaker 5: I think what's most important now is that we do

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Speaker 5: our job and continue to tighten our belt and find

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Speaker 5: efficiencies as a government, because every time the government overspends

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Speaker 5: all waste money that is competing with the private sector

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Speaker 5: with households and businesses, and they're really hurting. So we

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Speaker 5: still have our job to do containing our spending and

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Speaker 5: I think you'll see ongoing. Let's trained in the next

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Speaker 5: budget that allows the Reserve Bank to stop this roller

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Speaker 5: coaster where I think they pushed us too high for

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Speaker 5: too long, but they had to because they've gone too

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Speaker 5: low during COVID and now we're getting off that roller

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Speaker 5: coaster at the other end. Marshus and poor for the experience.

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Speaker 3: Hey, thanks your Tom, We really appreciate it.

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Speaker 5: Thank you.

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Speaker 3: Heg Party leader David Seymour. Right now it is seventeen

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Speaker 3: minutes past four. Have your feedback in a couple of months.

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Speaker 2: Digging deeper into the day's headlines, it's hither Dupas Allen

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Speaker 2: drive with one New Zealand one giant leaf for business,

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Speaker 2: US Dogs B Sport with tab get your bed on

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Speaker 2: our egem bed responsibly.

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Speaker 3: Host of sports Talk Nick Bewley is and Weather's this

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Speaker 3: afternoon high make a big low for the Black As

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Speaker 3: to officially start the Tom Latham era as they make

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Speaker 3: their way to India.

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Speaker 6: That's right, another entry in Caine Williamson's Hall of Pain Jack.

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Speaker 6: This time it's a groin niggle. It's going to delay

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Speaker 6: his departure with the New Zealand cricket squad for the

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Speaker 6: three Tests series against India. He's been rehabbing it since

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Speaker 6: suffering a bit of discomfort during the second Test match

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Speaker 6: loss against Srilanka that was just a few weeks ago.

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Speaker 6: He is expected to play at some points. Not all

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Speaker 6: doom and gloom, of course, kan Williamson suffered that serious

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Speaker 6: knee injury which kept him out for the best part

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Speaker 6: of six or nine months. So we've got Mark Chapman

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Speaker 6: into the squad He's never played a Test match, but

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Speaker 6: relatively familiar to the black Caps set up in terms

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Speaker 6: of the limited overs side. Will Young though probably goes

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Speaker 6: straight in as first drop, will get Sam Wells's thoughts.

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Speaker 6: He's the black Caps chief selector. He's going to join

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Speaker 6: us on Sports Talk tonight. I guess the other real

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Speaker 6: major talking point, although it was well signaled, is of

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Speaker 6: course Tim Southy relinquishing the Test capenetcy. The Tom Latham

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Speaker 6: era begins. But what is Tim? What is Tim Saudi's

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Speaker 6: role in this side now and particularly overseas on tours

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Speaker 6: like this against India when it's more suited to spin

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Speaker 6: rather than see him as Tim Saudi a guarantee to

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Speaker 6: be in there. Leave and we'll put those questions to

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Speaker 6: Sam a bit later.

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Speaker 3: And Nick, one of the stars of the NPC, has

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Speaker 3: undergone emergency neck surgery.

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Speaker 6: Yeh, scary story this and a major blow for Taranaki.

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Speaker 6: A hit of their MPC quarter final against Waikato that's

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Speaker 6: on Saturday, but the ran Philly Shield Challenge which Tartanaki

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Speaker 6: won on the weekend over Tasman. Their fullback Jaqbratu, Mitavuki Neapkins,

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Speaker 6: who's been having a whale of a season. He'll have

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Speaker 6: surgery on his fractured neck he suffered during that when

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Speaker 6: over Tasman, which of course is ruling him out of

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Speaker 6: the rest of the rugby year. I was a little

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Speaker 6: bit surprised, actually, Jack, when we've seen these that All

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Speaker 6: Blacks Development side named just yesterday that his name wasn't there,

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Speaker 6: and I thought, maybe something's up there. He's led the competition,

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Speaker 6: the NPC that is, but nine hundred and sixty seven

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Speaker 6: meters gain. He's a real threat with ball in hands.

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Speaker 6: So you just hope this isn't going to be a

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Speaker 6: real impact on his career going forward, because this is

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Speaker 6: a guy with a big future.

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Speaker 3: Appreciate your time, Nick, Nick Buley will be with us

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Speaker 3: behind the mic for Sports Talk tonight right after the

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Speaker 3: seven o'clock news on News Talks. He'd be thank you

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Speaker 3: for your feedback.

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Speaker 7: Jack.

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Speaker 3: It's a no brainer, says Allen. You go floating until

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Speaker 3: the next OCR announcement, which is on the end of

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Speaker 3: next month, or until the bank drops rates in anticipation

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Speaker 3: of the next OCR. So Allen says, quote, it's a

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Speaker 3: no brainer. Paula says Jack, it's a no brainer. Do

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Speaker 3: six months. So Apparently everyone thinks it's a no brainer,

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Speaker 3: but unfortunately everyone's offering me a different advice here, Jack,

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Speaker 3: I would offer II we go for six months, which

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Speaker 3: will take you through late April twenty twenty five. Give

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Speaker 3: you two further OCR announcements next year. Hopefully in three

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Speaker 3: weeks time you'll be fixing somewhere down by six and

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Speaker 3: a half for six months. It's going to be really

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Speaker 3: interesting to see how the banks really react to today's

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Speaker 3: decision and see what they are forecasting for that final

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Speaker 3: OCR announcement of twenty twenty four coming at the end

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Speaker 3: of November. We're going to take a closer look at

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Speaker 3: that after five o'clock this evening, ninety two ninety two.

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Speaker 3: If you want to send us a two right now,

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Speaker 3: it's twenty three past four.

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Speaker 2: Hard questions, strong opinion, Jack Dame on hither duplicy Eland drive?

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Speaker 2: Who is one New Zealand Let's get connected news talk

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Speaker 2: instead be.

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Speaker 3: Thank you for your feedback. An email here says Jack,

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Speaker 3: I totally agree with you regarding the neutral rate. If

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Speaker 3: the CPI is anywhere near the target band or on

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Speaker 3: the lower part of the target band, it's hard to

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Speaker 3: see why the Reserve Bank wouldn't be cutting. Yeah, I

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Speaker 3: mean this I reckon this is going to be a really,

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Speaker 3: really prominent conversation over the next six weeks. So the

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Speaker 3: CPI data from statz Enz comes out next week. It

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Speaker 3: sort of feels like a funny way to do things, right.

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Speaker 3: You've got the OCR announcement this week. What they make

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Speaker 3: seven announcements for the OCI every year, and the Consumer

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Speaker 3: Price Index comes out next week, so you've got sort

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Speaker 3: of putting the cart before the horse. Anyway, they only

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Speaker 3: do the CPI quarterly, so I suppose you're never gonna

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Speaker 3: have a perfect kind of fit. But many economists are

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Speaker 3: picking that inflation could be down relatively near two percent,

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Speaker 3: maybe sub two point five percent, which is not just

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Speaker 3: within the one to three band, but getting awfully close

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Speaker 3: to that kind of neutral inflation level or that midpoint

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Speaker 3: in the band. And if that's the case, why shouldn't

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Speaker 3: it be a neutral ocier? I mean, why shouldn't we

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Speaker 3: be whipping off seventy five one hundred bases points come November.

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Speaker 3: We will take a look at that after four thirty

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Speaker 3: as well as that Hurricane Milton inches closer to the

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Speaker 3: Florida coast coming up very shortly we will take you

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Speaker 3: there to Tampa, where a few hardy residents have decided

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Speaker 3: to stay.

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Speaker 2: Digging deeper into the day's headlines, it's Jack Dame on,

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Speaker 2: Heather Duplessy allan drive with one New Zealand let's get connected.

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Speaker 1: Use talks.

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Speaker 8: That'd be Vanilla Baby Baby twenty eight telling me I'm

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Speaker 8: still a baby, Love and the straight lace skill, a

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Speaker 8: baby and the thing A bunch of boys.

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Speaker 3: Good Jackson's been rate drop means labor just lost the

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Speaker 3: twenty twenty six election year. When you thinking about people

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Speaker 3: who won't be celebrating the rate drop today are people

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Speaker 3: who don't have mortgages but do have a lot of

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Speaker 3: money and their savings right now, they're probably not celebrating.

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Speaker 3: And yes, opposition parties, as much as they might be

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Speaker 3: relieved to see a bit of pressure coming off individual

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Speaker 3: households when they think about their electoral prospects, maybe not

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Speaker 3: so enthusiastic. We're going to catch up with Core Logic

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Speaker 3: a little later in the show to find out what

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Speaker 3: today's announcement from the Reserve Bank is likely to mean

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Speaker 3: for the property market. If heading into summer, we're likely

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Speaker 3: to see a surge in interest and a surge in

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Speaker 3: house prices. Right now, though it is twenty five minutes

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Speaker 3: to five, it's.

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Speaker 1: The world wires on news talks.

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Speaker 3: They'd be drive and Hurricane Milton is bearing down on Florida.

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Speaker 3: With the storm turning back into a Category five. Authority

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Speaker 3: is filling Tropicana Field with kats a base camp for

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Speaker 3: first responders. Governor DeSantis mobilizing some eight thousand National Guard troops.

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Speaker 2: This is probably the largest National Guard mobilization and advance

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Speaker 2: of a storm in Florida history.

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Speaker 3: President Joe Biden wasn't mincing his.

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Speaker 9: Under evacuation orders.

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Speaker 4: You should evacuate now, now, now, you should have already evacuated.

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Speaker 10: It's a matter of life and death and National High

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Speaker 10: Herd Way, It's a matter of life and death.

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Speaker 3: Tampa is Mea was also seening out stern warnings.

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Speaker 11: There's never been one like this, and this Helene was

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Speaker 11: a wake up call.

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Speaker 12: This is literally catastrophic and I.

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Speaker 13: Can say, without any dramatization whatsoever, if you choose to

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Speaker 13: stay in one of those evacuation areas, you're going to die.

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Speaker 3: To the Middle East, now we have been JAMNITNYA, who

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Speaker 3: is promising to continue the war with a message for Lebanon.

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Speaker 10: Israel has a right to defend itself. Israel also has

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Speaker 10: a right to win, and Israel willing we've degraded his

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Speaker 10: Balla's capabilities. We took up thousands of terrorists, including Osuela

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Speaker 10: himself and Aswelo's replacement and the replacement of his replacement.

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Speaker 3: And finally, oh, I haven't heard this jam in a while.

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Speaker 3: A big man out of Oregon has gained a world

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Speaker 3: record for the most chest to ground burpees in an hour,

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Speaker 3: completing Oney twenty seven, beating the previous record by seventeen.

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Speaker 3: Better living everyone.

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Speaker 2: International correspondence with ends and eye insurance, Peace of mind

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Speaker 2: for New Zealand business.

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Speaker 3: As Hurricane Milton inches its way closer to land, we

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Speaker 3: will take in out of US correspondent Catherine Ferkin for

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Speaker 3: the latest scout of Catherine.

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Speaker 14: Good afternoon, How are you very well?

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Speaker 3: Thank you and glad that I am not in Florida

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Speaker 3: right now. This Hurricane Milton looks like an absolute monster

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Speaker 3: of behemoth. Are people heeding the evacuation warnings?

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Speaker 2: Yeah?

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Speaker 14: Absolutely, well generally people are. I mean it truly is

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Speaker 14: a dire situation here for millions of people in Milton's path.

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Speaker 4: Jack.

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Speaker 14: I mean, the latest information we have is that this

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Speaker 14: hurricane has re intensified to a had degree five. That

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Speaker 14: is a monster storm. It's currently whipping up winds of

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Speaker 14: more than two hundred and sixty five kilometers in the hour,

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Speaker 14: and frighteningly, it looks set to make a direct hit

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Speaker 14: on Tampa sometime in the next twenty four to thirty

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Speaker 14: six hours. Now, with the situation only getting worse, we

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Speaker 14: have seen those mandatory evacuations extended across much of Florida's

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Speaker 14: west coast. The thing that's just really truly tragic, I

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Speaker 14: think is that so many of these communities are only

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Speaker 14: just starting the cleanup after Hurricane Helene hit only a

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Speaker 14: fortnight ago. I've been looking at places like Treasure Island,

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Speaker 14: where people's homes are literally strewn across their front yards,

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Speaker 14: and the concern there is that all that debris and

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Speaker 14: building rubble and bits of furniture that's been tossed around

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Speaker 14: will now act like projectiles when Hurricane Milton hits. So

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Speaker 14: there's a real race there for authorities and residents to

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Speaker 14: try and clear the debris, secure their homes, but then

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Speaker 14: also get well away from the town and from that

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Speaker 14: west coast altogether. The big risk for people who choose

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Speaker 14: to stay in any of these low lying areas is,

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Speaker 14: of course the storm surge. They're predicting up to four

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Speaker 14: and a half meters of storm surge, and the message

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Speaker 14: from authorities is if that hits, it simply won't be survivable.

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Speaker 14: So people really do need to be heating these evacuation messages.

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Speaker 3: It's interesting because hurricanes are so slow moving. It's this

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Speaker 3: really agonizing period where you are waiting for it to

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Speaker 3: make landfall. But what a forecast is saying is that

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Speaker 3: any possibility that this hurricane might actually move out to

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Speaker 3: seeing that the main land might be speared.

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Speaker 14: Look, there is a possibility, it's not looking very likely

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Speaker 14: at the moment. Unfortunately, things just seem to be getting

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Speaker 14: worse and worse and worse. I mean, we're not expecting

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Speaker 14: it to hit as a category five. They're still hoping

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Speaker 14: it will de intensify down to probably a category three,

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Speaker 14: but the concern is that it's likely to double in size.

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Speaker 14: You know, they are slow moving, but they're also potentially

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Speaker 14: so deadly and so unpredictable. At the moment, we're even

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Speaker 14: expecting that areas further inland, like Orlando could be hit there.

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Speaker 14: Of course they're not going to get storm surge, but

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Speaker 14: they are at risk of potentially deadly flooding from rain.

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Speaker 14: They're expecting more than thirty centimeters in places like that,

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Speaker 14: So we really are expecting this is going to be chaotic.

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Speaker 14: Hopefully there's a bit of a miracle overnight here and

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Speaker 14: it does, you know, potentially go right off the coast,

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Speaker 14: but it's unfortunately not looking that way.

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Speaker 3: Yeah. Now Donald Trump's interesting relationship with Vladimir Putin is

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Speaker 3: out in the open even more than beforehand, thanks to

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Speaker 3: once again a new book by Bob Woodwood.

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Speaker 14: Yeah, these are really quite extraordinary claims from Bob Woodwood.

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Speaker 14: I mean, they suggest a much deeper and more close

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Speaker 14: relationship between Donald Trump and Vladimir Putin. Then certainly the

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Speaker 14: former president would hope to present essentially in this new book,

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Speaker 14: journalist would says that Trump and Prusian continue to interact

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Speaker 14: after the former president left office, and that the two

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Speaker 14: leaders had as many as seven phone calls since twenty

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Speaker 14: twenty one.

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Speaker 3: One of the other bombshell.

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Speaker 14: Allegations in this book that's interesting is that supposedly there

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Speaker 14: was this secret shipment of COVID supplies since by Donald

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Speaker 14: Trumps of Prutin during the early days of the pandemic

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Speaker 14: in twenty twenty that Russia and the US were essentially

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Speaker 14: exchanging medical equipment, including ventilators. Now, this new book, titled

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Speaker 14: War isn't officially released until October fifteen, but CNN managed

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Speaker 14: to get an early copy and they've released this information.

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Speaker 14: It's of course not made the Trump campaign particularly happy.

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Speaker 14: They have responded. In fact, we've heard from Trump's communications

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Speaker 14: director Stephen Chung. He's gone as far as to say

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Speaker 14: that the book simply belongs in a bargain bin. He's

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Speaker 14: released an email statement saying none of these made up

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Speaker 14: stories by Bob Woodwood are true and they are the

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Speaker 14: work of a truly demented and deranged man. But of

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Speaker 14: course Bob Woodwood is a vert th're an investigative journalist.

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Speaker 14: He's probably best known for his work on the Watergate

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Speaker 14: scandal back in the early nineteen seventies. So certainly people

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Speaker 14: are not so quick to dismiss these allegations. But Jack,

437
00:23:12,240 --> 00:23:13,800
Speaker 14: whether or not this is going to be enough to

438
00:23:13,840 --> 00:23:16,560
Speaker 14: shift things in terms of the election, I think he's

439
00:23:16,840 --> 00:23:21,600
Speaker 14: probably not particularly likely. What I've found extraordinary this campaign

440
00:23:22,080 --> 00:23:24,800
Speaker 14: is that we've had such a chaotic race and yet

441
00:23:24,800 --> 00:23:27,200
Speaker 14: the Neil really hasn't moved too much as far as

442
00:23:27,200 --> 00:23:30,399
Speaker 14: polling is concerned. We're still on track for an incredibly

443
00:23:30,560 --> 00:23:33,879
Speaker 14: tight race. And I don't think these allegations, as interestingly

444
00:23:34,119 --> 00:23:37,080
Speaker 14: as they are, are going to change people's minds just

445
00:23:37,119 --> 00:23:38,320
Speaker 14: one month up from the election.

446
00:23:38,520 --> 00:23:40,040
Speaker 3: Yeah, yeah, I tend to agree with you on that one.

447
00:23:40,040 --> 00:23:43,000
Speaker 3: Thank you so much, Catherine. That is US correspondent Catherine Ferkin.

448
00:23:43,520 --> 00:23:46,679
Speaker 3: So confirmation today that Australia has waived diplomatic community for

449
00:23:46,720 --> 00:23:49,600
Speaker 3: a man accused of an early morning assault in the

450
00:23:49,600 --> 00:23:53,800
Speaker 3: Wellington CBD. You know that video was released. It was

451
00:23:53,840 --> 00:23:58,080
Speaker 3: pretty addifying, to say the least, allegedly showing the partner

452
00:23:58,119 --> 00:24:01,320
Speaker 3: of an Australian diplomat yelling out what sounded like a

453
00:24:01,320 --> 00:24:05,520
Speaker 3: homophobic slur at police, before then loudly claiming that he

454
00:24:05,600 --> 00:24:08,760
Speaker 3: had diplomatic immunity. It was like during a bit of

455
00:24:08,880 --> 00:24:11,880
Speaker 3: a fight or a scuffle in the Wellington CBD. So anyway,

456
00:24:11,880 --> 00:24:14,480
Speaker 3: the New Zealand government or the police had sought to

457
00:24:14,600 --> 00:24:18,200
Speaker 3: wave had sought to get the Aussies to waive diplomatic immunity.

458
00:24:18,680 --> 00:24:21,359
Speaker 3: In a statement, this afternoon in fat said quote, the

459
00:24:21,359 --> 00:24:24,560
Speaker 3: Australian government has provided waivers of immunity enabling next steps

460
00:24:24,600 --> 00:24:26,399
Speaker 3: to be taken by police. The matter is now with

461
00:24:26,520 --> 00:24:31,200
Speaker 3: New Zealand Police. So we'd have to say, given the

462
00:24:31,240 --> 00:24:33,560
Speaker 3: state of that video and given what police wanted, good

463
00:24:33,640 --> 00:24:36,160
Speaker 3: on the Aussies for agreeing to it in this case.

464
00:24:36,200 --> 00:24:39,840
Speaker 3: So we will watch that case with keen interest Politics next.

465
00:24:39,840 --> 00:24:41,480
Speaker 3: It's sixteen to five on Newstalk's He'd be.

466
00:24:42,680 --> 00:24:46,000
Speaker 2: Politics with Centric Credit, Check your customers and get payments

467
00:24:46,000 --> 00:24:46,679
Speaker 2: certainty and.

468
00:24:46,680 --> 00:24:49,320
Speaker 3: New Zealand Herald political editor Clear Trevet is whether us

469
00:24:49,359 --> 00:24:53,480
Speaker 3: this afternoon killed are kyoto Jack? Did you hear they

470
00:24:53,480 --> 00:24:56,080
Speaker 3: cut the OCR fifty bases points just after two o'clock

471
00:24:56,080 --> 00:24:56,680
Speaker 3: this afternoon?

472
00:24:57,280 --> 00:25:00,920
Speaker 4: Apparently I have indeed heard that. Yeah, it's pretty much

473
00:25:01,840 --> 00:25:05,080
Speaker 4: good news for everybody. Really. The unions love it, their

474
00:25:05,080 --> 00:25:09,760
Speaker 4: businesses love it, retail sector loves it. Finance Minister Nichola

475
00:25:09,800 --> 00:25:12,879
Speaker 4: Willis suddenly loves it. She I think said it was

476
00:25:12,920 --> 00:25:18,560
Speaker 4: a double whammy, double happy, and the government's now merely

477
00:25:18,680 --> 00:25:21,720
Speaker 4: taking credit for it all by painting it basically as

478
00:25:21,760 --> 00:25:24,280
Speaker 4: the fruits of their labors and getting inflation down and

479
00:25:24,320 --> 00:25:28,800
Speaker 4: getting spending Restrainton and they'll be hoping it will serve

480
00:25:28,880 --> 00:25:32,960
Speaker 4: to bolster business confidence as well as deliver the much

481
00:25:33,040 --> 00:25:38,639
Speaker 4: needed relief for mortgage holders basically, So yeah, a pretty

482
00:25:38,880 --> 00:25:41,640
Speaker 4: pretty big move and they'll be watching to see where

483
00:25:41,680 --> 00:25:44,080
Speaker 4: it goes from now a quick response from the banks

484
00:25:44,080 --> 00:25:44,480
Speaker 4: as well.

485
00:25:44,600 --> 00:25:47,399
Speaker 3: So yeah, how quick has that been? I mean they

486
00:25:47,400 --> 00:25:49,919
Speaker 3: were basically out of blocks two minutes afterwards.

487
00:25:49,600 --> 00:25:50,880
Speaker 1: Right, yeah.

488
00:25:50,920 --> 00:25:53,760
Speaker 4: I think some of them had started nudging beforehand, and

489
00:25:54,440 --> 00:25:56,919
Speaker 4: then it was very quick afterwards. At least two or

490
00:25:56,960 --> 00:26:01,520
Speaker 4: three Catt and West immediately, So I think Willis has

491
00:26:01,520 --> 00:26:03,760
Speaker 4: pointed out that about half of all mortgage sholders are

492
00:26:03,800 --> 00:26:06,119
Speaker 4: now on either floating because they've been waiting in for

493
00:26:06,160 --> 00:26:09,000
Speaker 4: this to happen, or on very short term like less

494
00:26:09,040 --> 00:26:13,720
Speaker 4: than six months, because everyone's been expecting it to drop further.

495
00:26:13,840 --> 00:26:19,120
Speaker 4: So so it's pretty good news really, So Zealanders.

496
00:26:18,560 --> 00:26:21,359
Speaker 3: Well, the only people who aren't celebrating are people like

497
00:26:21,440 --> 00:26:24,440
Speaker 3: you and I who had millions of dollars just squirreled

498
00:26:24,440 --> 00:26:25,600
Speaker 3: away in our savings account.

499
00:26:25,760 --> 00:26:28,760
Speaker 13: Right, that's right, Jack, that's me.

500
00:26:29,200 --> 00:26:33,600
Speaker 3: Yes, that's us Varius, high fame journalist. Now, the Order

501
00:26:33,640 --> 00:26:38,879
Speaker 3: of Generals has come up with a very interesting letter

502
00:26:38,960 --> 00:26:41,800
Speaker 3: regarding the way that the government dealt with funding for

503
00:26:41,840 --> 00:26:44,240
Speaker 3: I am Hope you gum Boot Friday thanks to the

504
00:26:44,320 --> 00:26:45,240
Speaker 3: coalition agreement.

505
00:26:46,440 --> 00:26:49,320
Speaker 4: Yeah, it's quite an interesting letter from the Order to General.

506
00:26:49,480 --> 00:26:53,640
Speaker 4: He's he's given their Director General of Health a bit

507
00:26:53,680 --> 00:26:57,000
Speaker 4: of a serve for doling out twenty four million to

508
00:26:57,480 --> 00:27:01,680
Speaker 4: Mike King's mental health charity Gunboat Friday or the im

509
00:27:01,720 --> 00:27:05,080
Speaker 4: Hope Foundation, saying it was done through a process that

510
00:27:05,240 --> 00:27:10,120
Speaker 4: was quote unusual and inconsistent with good practice. Now, Mike

511
00:27:10,200 --> 00:27:12,520
Speaker 4: King has done absolutely nothing wrong here. I would like

512
00:27:12,560 --> 00:27:15,440
Speaker 4: to say this was Listeners might recall that it was

513
00:27:15,480 --> 00:27:17,879
Speaker 4: a six million dollar and your funding promise. That was

514
00:27:17,920 --> 00:27:20,679
Speaker 4: one of the items in the coalition agreement between National

515
00:27:20,720 --> 00:27:24,800
Speaker 4: and New Zealand first and then of course it got

516
00:27:24,840 --> 00:27:27,320
Speaker 4: to the point at the time it was unveiled as

517
00:27:27,359 --> 00:27:30,040
Speaker 4: one of their coalition agreements. Mike King thank the government

518
00:27:30,400 --> 00:27:34,000
Speaker 4: for quote pushing bureaucracy aside. But as things have transpired,

519
00:27:34,040 --> 00:27:37,159
Speaker 4: the Order to General wasn't quite so impressed by bureaucracy

520
00:27:37,200 --> 00:27:40,840
Speaker 4: being pushed aside. What he's done is he's basically said

521
00:27:40,840 --> 00:27:44,440
Speaker 4: that it didn't follow the normal roles for government procurement,

522
00:27:44,520 --> 00:27:48,720
Speaker 4: which in usual circumstances, the government says, this is what

523
00:27:48,760 --> 00:27:52,040
Speaker 4: we want to happen, so we want funding for mental

524
00:27:52,080 --> 00:27:55,399
Speaker 4: health services for youth, which is what Mike Kingswan does,

525
00:27:55,440 --> 00:27:58,560
Speaker 4: and then the officials won a contested process for providers

526
00:27:58,600 --> 00:28:00,560
Speaker 4: to kind of bid for it and what they can

527
00:28:00,600 --> 00:28:03,000
Speaker 4: offer and all that kind of stuff. In this case,

528
00:28:03,680 --> 00:28:07,760
Speaker 4: because of the specific coalition promise, it has gone to

529
00:28:08,760 --> 00:28:14,000
Speaker 4: Mike King's organization, and their officials have found a little

530
00:28:14,040 --> 00:28:18,280
Speaker 4: opt out clause from the usual contested process which allows

531
00:28:18,320 --> 00:28:21,680
Speaker 4: them to not put it up for the bidding if

532
00:28:21,920 --> 00:28:26,040
Speaker 4: it's someone who offers very specialist services, for example. And

533
00:28:26,119 --> 00:28:27,840
Speaker 4: the Order to General said, you more or less came

534
00:28:27,920 --> 00:28:30,359
Speaker 4: up with that as an excuse after you'd already said

535
00:28:30,359 --> 00:28:33,440
Speaker 4: you'd do the funding. He is given the officials to serve,

536
00:28:34,160 --> 00:28:38,560
Speaker 4: but has kind of pointed to the coalition agreement is

537
00:28:38,880 --> 00:28:41,400
Speaker 4: making it quite difficult for them because it was such

538
00:28:41,440 --> 00:28:45,240
Speaker 4: a specific promise. In that he said that the official

539
00:28:45,280 --> 00:28:47,440
Speaker 4: should at least have pushed back a bit harder against

540
00:28:47,480 --> 00:28:51,920
Speaker 4: the ministers and explained more firmly how far adrift it

541
00:28:52,000 --> 00:28:56,080
Speaker 4: was from the usual procurement processes. Interesting the statement that

542
00:28:56,200 --> 00:29:00,040
Speaker 4: sent out includes a paragraph which says that there is

543
00:29:00,960 --> 00:29:04,880
Speaker 4: not intended to examine the developmental content of a coalition agreement,

544
00:29:04,880 --> 00:29:08,920
Speaker 4: which is the domain of political parties. But the letter

545
00:29:09,000 --> 00:29:13,040
Speaker 4: itself does note that usually ministers don't make contractual decisions,

546
00:29:13,080 --> 00:29:17,360
Speaker 4: and again that those officials were put in a difficult position.

547
00:29:17,560 --> 00:29:19,960
Speaker 4: So that in itself is a little bit of a

548
00:29:20,000 --> 00:29:23,280
Speaker 4: touch tut on the coalition agreement process, I guess, and

549
00:29:23,840 --> 00:29:27,800
Speaker 4: some satisfaction there. I think the minister involved, as Mental

550
00:29:27,800 --> 00:29:31,320
Speaker 4: Health Minister mat Doc and he's merely also blamed the officials,

551
00:29:31,320 --> 00:29:36,200
Speaker 4: saying that while the government the government's job to kind

552
00:29:36,240 --> 00:29:39,080
Speaker 4: of say this is what we want funded, and then

553
00:29:39,120 --> 00:29:41,400
Speaker 4: it's up to the officials to decide how to implement that.

554
00:29:41,640 --> 00:29:43,920
Speaker 4: And he said he had sought assurance that it was

555
00:29:43,960 --> 00:29:45,800
Speaker 4: all being done within the roles and had been given

556
00:29:45,800 --> 00:29:48,760
Speaker 4: that assurance. So a bit of a bit of a

557
00:29:49,160 --> 00:29:54,240
Speaker 4: lessons around labors. Labors furious, weren't angry about it, as

558
00:29:54,240 --> 00:29:55,680
Speaker 4: you kind of would be. It's not a good lock,

559
00:29:56,080 --> 00:29:59,160
Speaker 4: saying the government's basically showing content for the rules and

560
00:29:59,680 --> 00:30:03,360
Speaker 4: it's in these kind of things hurt public confidence in

561
00:30:03,400 --> 00:30:05,160
Speaker 4: the process in New Zealand's reputation.

562
00:30:05,440 --> 00:30:07,800
Speaker 3: I remember asking Matt Doosey about this a few months ago,

563
00:30:07,960 --> 00:30:09,920
Speaker 3: and you know, he beged, this is pretty straight up,

564
00:30:10,040 --> 00:30:12,320
Speaker 3: and I said, was it a good process? And he

565
00:30:12,440 --> 00:30:14,680
Speaker 3: said oh, And I said, no, was it a good process?

566
00:30:15,520 --> 00:30:17,760
Speaker 3: Because it is just an unusual process, right, And the

567
00:30:17,760 --> 00:30:20,240
Speaker 3: truth is, like you say, no, one's actually suggesting, you

568
00:30:20,280 --> 00:30:23,040
Speaker 3: know that Mike King's done anything wrong here. That the

569
00:30:23,400 --> 00:30:27,080
Speaker 3: issue is that if you don't have transparency around the

570
00:30:27,120 --> 00:30:29,600
Speaker 3: way that these funding decisions are made, and you have

571
00:30:29,720 --> 00:30:32,920
Speaker 3: ministers just making kind of ad hoc decisions for whatever

572
00:30:33,160 --> 00:30:36,320
Speaker 3: their project is, for whatever their issue is, you know,

573
00:30:36,560 --> 00:30:39,040
Speaker 3: it sets a really bad standard. Right, So there are

574
00:30:39,080 --> 00:30:42,400
Speaker 3: reasons that usually we have systems around procurement.

575
00:30:43,760 --> 00:30:46,479
Speaker 4: Yeah, well there are because otherwise you kind of just

576
00:30:46,520 --> 00:30:49,800
Speaker 4: have political decisions being made on who gets to do

577
00:30:50,200 --> 00:30:53,000
Speaker 4: who gets to do stuff. I mean, it's not necessarily

578
00:30:53,120 --> 00:30:56,640
Speaker 4: met Doocey's foulder either, because he didn't write the coalition agreement,

579
00:30:56,680 --> 00:30:59,920
Speaker 4: he wasn't in the talks, so it's but it does

580
00:31:00,080 --> 00:31:05,440
Speaker 4: show the kind of flaws in those very specific items

581
00:31:05,480 --> 00:31:08,360
Speaker 4: I guess, in those coalition agreements. And then you do

582
00:31:08,480 --> 00:31:10,360
Speaker 4: have to feel a bit for the officials.

583
00:31:09,880 --> 00:31:14,000
Speaker 3: Here no matter what they do. Yeah, yeah, yeah, they

584
00:31:14,160 --> 00:31:16,240
Speaker 3: got the screw. Hey, thank you so much. Clear, We

585
00:31:16,320 --> 00:31:18,960
Speaker 3: really appreciate it. As ever. That's New Zealand Herald political

586
00:31:19,080 --> 00:31:22,320
Speaker 3: editor Clear Trevet with us this evening. Of course, Christopher

587
00:31:22,360 --> 00:31:25,400
Speaker 3: Luxen is making his way to his first ever East

588
00:31:25,440 --> 00:31:28,320
Speaker 3: Asia summit in Lao. He's going on the Defense Force plane.

589
00:31:28,320 --> 00:31:29,600
Speaker 3: So I think I spect for the nation when I

590
00:31:29,640 --> 00:31:32,040
Speaker 3: say that my fingers are firmly crossed for the PM.

591
00:31:32,640 --> 00:31:35,520
Speaker 3: It could be his first chance to meet India's Prime

592
00:31:35,560 --> 00:31:38,640
Speaker 3: Minister Modi, So that would be a big, really important

593
00:31:38,640 --> 00:31:41,720
Speaker 3: moment for Christopher Luxon. Speaking of people who aren't terribly

594
00:31:41,720 --> 00:31:45,520
Speaker 3: happy with today's announcement, Maria says Jack I fixed in

595
00:31:45,600 --> 00:31:49,120
Speaker 3: late June for eighteen months because Adrian Orr and the

596
00:31:49,160 --> 00:31:53,800
Speaker 3: Reserve Bank said they might raise the ocr again. Not happy. Yeah,

597
00:31:53,800 --> 00:31:55,560
Speaker 3: I don't blame you, Marie. I mean it did feel

598
00:31:55,600 --> 00:31:58,720
Speaker 3: like I think between May and August the shift in

599
00:31:58,800 --> 00:32:01,920
Speaker 3: some of the rhetoric out the Reserve Bank was really stark.

600
00:32:01,960 --> 00:32:03,720
Speaker 3: So yeah, I don't blame you for being upset at all.

601
00:32:03,800 --> 00:32:05,280
Speaker 3: Ninety two ninety two, If you want to send us

602
00:32:05,320 --> 00:32:07,640
Speaker 3: a text.

603
00:32:06,760 --> 00:32:10,560
Speaker 2: Putting the tough questions to the newspeakers, the mic asking.

604
00:32:10,200 --> 00:32:12,520
Speaker 3: Breakfast we're insight into the troubles of Health New Zealand

605
00:32:12,520 --> 00:32:14,720
Speaker 3: a man who will fix it all, Commissioner Lester Levy,

606
00:32:14,720 --> 00:32:15,360
Speaker 3: who is with us.

607
00:32:15,400 --> 00:32:16,640
Speaker 1: You're making headway, yes.

608
00:32:16,640 --> 00:32:20,160
Speaker 8: On the financial side, we're starting to get relatively small

609
00:32:20,360 --> 00:32:23,280
Speaker 8: but meaningful reductions. But if I could manage, just address

610
00:32:23,320 --> 00:32:25,400
Speaker 8: the staffing, because that comes up a lot. In the

611
00:32:25,480 --> 00:32:28,600
Speaker 8: year just finished in June, we added more staff of

612
00:32:28,720 --> 00:32:32,040
Speaker 8: all professional groups than any time in the last eight years.

613
00:32:32,080 --> 00:32:34,280
Speaker 8: And the number of nurses were added in this last

614
00:32:34,320 --> 00:32:36,960
Speaker 8: year is more than the total amount of all professional

615
00:32:37,000 --> 00:32:39,160
Speaker 8: types in any of the two prior years. There has

616
00:32:39,200 --> 00:32:41,920
Speaker 8: never been an uplift in full time accordance as there

617
00:32:41,960 --> 00:32:44,080
Speaker 8: has been in this last year, so that doesn't meet

618
00:32:44,160 --> 00:32:45,440
Speaker 8: with the prevailing narrative.

619
00:32:45,800 --> 00:32:48,560
Speaker 10: Back tomorrow at six am the Mike Hosking Breakfast with

620
00:32:48,680 --> 00:32:50,600
Speaker 10: the Jaguar Space used Talk z B.

621
00:32:51,120 --> 00:32:54,760
Speaker 3: Very interesting announcement from the Minister of Sport and Recreation today.

622
00:32:54,840 --> 00:32:57,400
Speaker 3: Chris Bishop has asked Sport in z to update the

623
00:32:57,560 --> 00:33:01,400
Speaker 3: transgender inclusion guidelines. So we're going to be speaking with

624
00:33:01,480 --> 00:33:04,120
Speaker 3: him after five o'clock this evening to see what exactly

625
00:33:04,120 --> 00:33:07,880
Speaker 3: what it'll mean for community sport in New Zealand. As

626
00:33:07,880 --> 00:33:09,920
Speaker 3: well as that, we'll take you to Florida. We've got

627
00:33:09,920 --> 00:33:13,080
Speaker 3: a correspondent who's currently in a bunker waiting for the

628
00:33:13,160 --> 00:33:15,720
Speaker 3: arrival of Hurricane Milton. Probably a good place to be.

629
00:33:16,520 --> 00:33:19,760
Speaker 3: As well as that, the OCR fifty basis points? What's

630
00:33:19,760 --> 00:33:21,480
Speaker 3: it going to mean for house prices in New Zealand?

631
00:33:21,520 --> 00:33:23,640
Speaker 3: News is next, It's almost five on Newstalk.

632
00:33:23,320 --> 00:33:28,640
Speaker 2: SEDB of course, pressing the newspakers to get the real story.

633
00:33:28,840 --> 00:33:31,840
Speaker 2: It's Jack Dame on. Hither dup to c Allen drive

634
00:33:32,120 --> 00:33:35,760
Speaker 2: with one New Zealand. Let's get connected new Stalk said B.

635
00:33:37,280 --> 00:33:39,760
Speaker 3: Well, they have done it. The Reserve Bank has decided

636
00:33:39,800 --> 00:33:42,440
Speaker 3: to cut the OCR by fifty basis points from five

637
00:33:42,440 --> 00:33:45,040
Speaker 3: point twenty five to four point seven to five, the

638
00:33:45,200 --> 00:33:49,000
Speaker 3: second consecutive cut after the OCR was lowered in August

639
00:33:49,000 --> 00:33:52,360
Speaker 3: for the first time in four years. All the big

640
00:33:52,400 --> 00:33:55,920
Speaker 3: banks ASB A and z Kiwi Bank predicted the fifty

641
00:33:55,960 --> 00:33:59,560
Speaker 3: point drop, although twenty five basis point drop was still

642
00:33:59,600 --> 00:34:02,000
Speaker 3: on the cads in the eyes of some economists. The

643
00:34:02,120 --> 00:34:04,960
Speaker 3: Cooperative Bank CEO Mark Bullshit is with us this evening?

644
00:34:05,000 --> 00:34:08,400
Speaker 3: Calder Mark, yeah, of course, be on, Yeah, what's this

645
00:34:08,440 --> 00:34:09,520
Speaker 3: going to mean? For New Zealanders.

646
00:34:10,320 --> 00:34:12,799
Speaker 15: I think it's good news for home borrowers. That's a

647
00:34:12,800 --> 00:34:16,080
Speaker 15: big drop, and you know, we've often seen those big

648
00:34:16,120 --> 00:34:20,360
Speaker 15: fifty point changes up like an earthquake or global financial crisis.

649
00:34:20,360 --> 00:34:22,399
Speaker 15: So it's quite a big move, and it does mean

650
00:34:22,920 --> 00:34:26,520
Speaker 15: benefits for customers over the course of the year. That

651
00:34:26,560 --> 00:34:29,680
Speaker 15: does equate to thousands and people's back pocket again from

652
00:34:29,719 --> 00:34:32,520
Speaker 15: those lower rates. And I see all the banks today

653
00:34:32,560 --> 00:34:35,320
Speaker 15: have moved their floating rates following on for that reserved

654
00:34:35,320 --> 00:34:36,240
Speaker 15: bank announcement today.

655
00:34:36,520 --> 00:34:38,120
Speaker 3: There is always a bit of a lad right twelve

656
00:34:38,160 --> 00:34:40,279
Speaker 3: to eighteen months before we get the full weight of

657
00:34:40,760 --> 00:34:43,759
Speaker 3: moves in the ocr felt throughout the economy. But what

658
00:34:43,920 --> 00:34:47,040
Speaker 3: does a fifty basis point cut today say about the

659
00:34:47,040 --> 00:34:48,000
Speaker 3: state of our economy.

660
00:34:48,800 --> 00:34:50,879
Speaker 15: Yeah, obviously that was done on the back of some

661
00:34:51,280 --> 00:34:55,640
Speaker 15: you know, some pretty you know, subdued environment out there

662
00:34:55,640 --> 00:34:59,360
Speaker 15: in the economy, low spending, et cetera. That's certainly a

663
00:34:59,400 --> 00:35:02,040
Speaker 15: sign of we have been in two years of recession.

664
00:35:02,560 --> 00:35:06,040
Speaker 15: But for customers, I guess and for general public out

665
00:35:06,040 --> 00:35:08,759
Speaker 15: there who are borrowers at there's lot of those rates

666
00:35:08,800 --> 00:35:11,680
Speaker 15: are getting passed through quite quickly. Now typically you're quite right,

667
00:35:11,719 --> 00:35:15,319
Speaker 15: there's a slow lag. But actually people have been going

668
00:35:15,360 --> 00:35:17,799
Speaker 15: short for a little while now on the expectation rates

669
00:35:17,800 --> 00:35:20,920
Speaker 15: are coming down and we've already seen markets pricing this in.

670
00:35:21,080 --> 00:35:24,400
Speaker 15: So those fix rates have been coming down fast. Started

671
00:35:24,440 --> 00:35:27,400
Speaker 15: the year, they were one percent higher, so they've already

672
00:35:27,400 --> 00:35:30,160
Speaker 15: started to come down quite quickly and people are getting

673
00:35:30,160 --> 00:35:31,040
Speaker 15: the benefit of that now.

674
00:35:31,200 --> 00:35:33,560
Speaker 3: So just how competitive are those rates at the moment?

675
00:35:34,360 --> 00:35:36,640
Speaker 15: Well, it's quite a flurry of changes out there in

676
00:35:36,719 --> 00:35:40,120
Speaker 15: the marketplace, so it's a good healthy market to be

677
00:35:40,200 --> 00:35:42,880
Speaker 15: in and to be shopping around and looking at options.

678
00:35:42,920 --> 00:35:45,080
Speaker 15: And you know, for example, we're going to one year

679
00:35:45,120 --> 00:35:47,680
Speaker 15: rates six point one nine. I mean that's pretty good

680
00:35:47,719 --> 00:35:49,640
Speaker 15: rates from where it has been the start of the year.

681
00:35:49,680 --> 00:35:52,239
Speaker 15: Those rates were in the sevens. So yeah, you can

682
00:35:52,239 --> 00:35:55,239
Speaker 15: said there's a competition out there now and in that

683
00:35:55,440 --> 00:35:58,760
Speaker 15: climbing great environment. That's good news for the general public

684
00:35:59,239 --> 00:35:59,960
Speaker 15: who've got options.

685
00:36:00,400 --> 00:36:03,480
Speaker 3: Does this mean that we can expect another fifty basis

686
00:36:03,480 --> 00:36:07,160
Speaker 3: point cut come November when the Reserve Bank considers things

687
00:36:07,160 --> 00:36:07,920
Speaker 3: for the final time this.

688
00:36:07,920 --> 00:36:11,000
Speaker 15: Year, You know, that's what markets are expecting. So the

689
00:36:11,120 --> 00:36:15,240
Speaker 15: November twenty seven official cash rate, the interest rate marks

690
00:36:15,280 --> 00:36:18,560
Speaker 15: are pricing in another fifty point cup on top of

691
00:36:18,600 --> 00:36:21,280
Speaker 15: the fifty we've just seen and the twenty five in August.

692
00:36:21,400 --> 00:36:24,920
Speaker 15: So that's a total of one point twenty five percent

693
00:36:25,040 --> 00:36:28,759
Speaker 15: in total. If all of that happens, obviously remains to

694
00:36:28,800 --> 00:36:31,160
Speaker 15: be seen, and that's in the hands of the Reserve Bank

695
00:36:31,200 --> 00:36:33,800
Speaker 15: for November. But it'll be interesting to see what happens

696
00:36:33,800 --> 00:36:36,120
Speaker 15: in that pre Christmas announcement.

697
00:36:36,280 --> 00:36:38,239
Speaker 3: Yeah, hey, thanks for your time, Mark, appreciate it. That

698
00:36:38,320 --> 00:36:42,960
Speaker 3: is the Cooperative Bank CEO, Mark Wilshire, Team ten past

699
00:36:42,960 --> 00:36:45,239
Speaker 3: five on news talks, there'd be. Florida is bracing for

700
00:36:45,320 --> 00:36:48,600
Speaker 3: quote the storm of the century, with Hurricane Milton now

701
00:36:48,680 --> 00:36:51,640
Speaker 3: upgraded to a Category five hurricane with wind speeds of

702
00:36:51,719 --> 00:36:55,240
Speaker 3: up to two hundred and seventy kilometers an hour. Residents

703
00:36:55,239 --> 00:36:58,160
Speaker 3: are evacuating by the millions, with officials saying it is

704
00:36:58,160 --> 00:37:01,520
Speaker 3: a matter of life and death. Alison Pietrowski is Channel

705
00:37:01,560 --> 00:37:04,480
Speaker 3: nine's US correspondent who's on the ground in Florida and

706
00:37:04,600 --> 00:37:06,000
Speaker 3: is with us to seven me, thank you for being

707
00:37:06,040 --> 00:37:07,520
Speaker 3: with us. Where are you right now?

708
00:37:08,120 --> 00:37:10,719
Speaker 12: Well, I'm staying in a hotel where a whole lot

709
00:37:10,800 --> 00:37:13,200
Speaker 12: of locals have decided they don't feel safe in their homes,

710
00:37:13,280 --> 00:37:16,960
Speaker 12: so they have come here to seek refuge through this storm.

711
00:37:17,520 --> 00:37:20,280
Speaker 12: I think a lot of them have already witnessed hurricanes

712
00:37:20,280 --> 00:37:23,640
Speaker 12: in the past. This area is so prone to hurricanes

713
00:37:23,640 --> 00:37:26,760
Speaker 12: every single summer. I feel like we're here covering a hurricane.

714
00:37:26,960 --> 00:37:29,560
Speaker 12: So these locals have seen hurricanes before. But I think

715
00:37:29,560 --> 00:37:32,719
Speaker 12: there is a sense of nervousness about this one for

716
00:37:32,760 --> 00:37:35,399
Speaker 12: two reasons. Firstly, it's currently sitting at a category five

717
00:37:35,440 --> 00:37:37,279
Speaker 12: as we talk, which is, you know, the highest it

718
00:37:37,320 --> 00:37:39,400
Speaker 12: can get on the spectrum. I'm seeing lots of people

719
00:37:39,480 --> 00:37:41,840
Speaker 12: kind of joking that this is such a high category

720
00:37:41,880 --> 00:37:44,239
Speaker 12: five that if there was a category six, this would

721
00:37:44,280 --> 00:37:48,400
Speaker 12: be one. And I guess the other real concern is just,

722
00:37:48,640 --> 00:37:51,600
Speaker 12: you know, less than a fortnight ago, roughly ten days ago,

723
00:37:51,840 --> 00:37:57,600
Speaker 12: Hurricane Helene stormed roared through this part of the United States,

724
00:37:57,680 --> 00:38:01,040
Speaker 12: in fact, many parts of the United States, Florida, Georgia,

725
00:38:01,280 --> 00:38:04,480
Speaker 12: and then North Carolina where it caused some catastrophic damage.

726
00:38:04,880 --> 00:38:07,920
Speaker 12: So this hurricane is the second in a space of

727
00:38:07,960 --> 00:38:11,360
Speaker 12: like ten days. And I was out at Treasure Island,

728
00:38:12,080 --> 00:38:14,520
Speaker 12: which is a barrier island outside of Tampa. It's somewhere

729
00:38:14,520 --> 00:38:17,360
Speaker 12: that gets hit by hurricanes all the time, and it

730
00:38:17,400 --> 00:38:20,640
Speaker 12: got hit by Helene and on either side of the street,

731
00:38:20,680 --> 00:38:23,080
Speaker 12: we just saw piles and piles of debris left over

732
00:38:23,120 --> 00:38:27,719
Speaker 12: from the last hurricane. You know, furniture, broken, bits of tables,

733
00:38:27,880 --> 00:38:31,359
Speaker 12: you know, fridges, barbecues, appliances, all kind of piled up

734
00:38:31,400 --> 00:38:34,920
Speaker 12: in these junk heaps all along the road. Not just

735
00:38:34,960 --> 00:38:37,360
Speaker 12: you know, one street or two street, but like block

736
00:38:37,400 --> 00:38:40,439
Speaker 12: after block, kilometer after kilometer. And I guess the real

737
00:38:40,480 --> 00:38:44,440
Speaker 12: fear is that once these winds get going, those that

738
00:38:45,200 --> 00:38:48,560
Speaker 12: debris will become flying projectiles, which will meant things. You know,

739
00:38:49,000 --> 00:38:51,200
Speaker 12: it'll give give it that extra degree of danger.

740
00:38:51,320 --> 00:38:53,800
Speaker 3: So you were going to be reporting. I can understand

741
00:38:53,800 --> 00:38:56,560
Speaker 3: why you were there, But why are those locals still

742
00:38:56,600 --> 00:38:58,480
Speaker 3: in the city. Why haven't they evacuated?

743
00:38:58,960 --> 00:39:00,359
Speaker 12: Look, I have to say that a lot of them

744
00:39:00,360 --> 00:39:02,520
Speaker 12: have left, more than what I normally see leave this

745
00:39:02,600 --> 00:39:05,399
Speaker 12: region when a hurricane is approaching. I think Floridians where

746
00:39:05,400 --> 00:39:07,640
Speaker 12: it is a badge of honor. Hey, we've seen hurricanes.

747
00:39:08,080 --> 00:39:10,680
Speaker 12: We're still standing. We've been through, so you know, they're

748
00:39:10,760 --> 00:39:12,920
Speaker 12: kind of battle heavy when it comes to a hurricane.

749
00:39:13,040 --> 00:39:15,399
Speaker 12: Today was the quietest I've ever seen a place twenty

750
00:39:15,400 --> 00:39:17,919
Speaker 12: four hours before a hurricane. It was a ghost Town

751
00:39:18,400 --> 00:39:21,279
Speaker 12: along those barrier islands there. That being said, though, there

752
00:39:21,280 --> 00:39:24,080
Speaker 12: were some people who decided to stay and ride out

753
00:39:24,120 --> 00:39:27,040
Speaker 12: the storm, and we're confidently doing so. I ran into

754
00:39:27,040 --> 00:39:29,799
Speaker 12: a guy called Jim who was a retired firefighter. His

755
00:39:29,880 --> 00:39:32,759
Speaker 12: wife works for the council and she's been sent to

756
00:39:32,880 --> 00:39:34,600
Speaker 12: work out of their head office for the next twenty

757
00:39:34,600 --> 00:39:37,000
Speaker 12: four hours, banning the nine one one calls that come in.

758
00:39:37,520 --> 00:39:39,239
Speaker 12: And he's like, I'm going to be here with my dog,

759
00:39:39,360 --> 00:39:42,960
Speaker 12: and I built this house myself. It's withstood every hurricane

760
00:39:43,000 --> 00:39:45,520
Speaker 12: that's come along so far. I've got a generator and

761
00:39:45,560 --> 00:39:47,040
Speaker 12: we're just going to ride this thing out. And he

762
00:39:47,160 --> 00:39:50,080
Speaker 12: was so confident about it, and that is a quality

763
00:39:50,160 --> 00:39:52,719
Speaker 12: that I see in many Floridians. I feel like it's

764
00:39:52,719 --> 00:39:54,480
Speaker 12: something they kind of take. They take a bit of

765
00:39:54,520 --> 00:39:56,640
Speaker 12: pride in the fact that they've experienced a lot and

766
00:39:56,680 --> 00:39:57,520
Speaker 12: they're still standing.

767
00:39:57,680 --> 00:39:59,880
Speaker 3: Yeah, we're going to be thinking of you. I've heard

768
00:40:00,080 --> 00:40:01,720
Speaker 3: next twenty four hours or so. I know it's probably

769
00:40:01,719 --> 00:40:03,759
Speaker 3: a pretty stressful time and it's kind of the calm

770
00:40:03,800 --> 00:40:06,640
Speaker 3: before the storm right now. But yeah, all the very

771
00:40:06,640 --> 00:40:07,719
Speaker 3: best for when it does arrive.

772
00:40:08,760 --> 00:40:09,400
Speaker 12: Appreciate it.

773
00:40:09,440 --> 00:40:10,280
Speaker 4: Good to talk to you.

774
00:40:10,280 --> 00:40:13,879
Speaker 3: You too. That's Allison Peter Trowski's years Channel nine's US

775
00:40:13,920 --> 00:40:18,040
Speaker 3: correspondent reporting to US there from Tampa in Florida. I

776
00:40:18,040 --> 00:40:21,560
Speaker 3: have been to the aftermath of not a hurricane with

777
00:40:21,680 --> 00:40:24,399
Speaker 3: winds the strong, but a tornado with winds are strong

778
00:40:24,440 --> 00:40:28,759
Speaker 3: twenty thirteen the more tornado in Oklahoma, so wins that

779
00:40:28,800 --> 00:40:30,719
Speaker 3: are of a very similar speed. I think the winds

780
00:40:30,719 --> 00:40:32,680
Speaker 3: then we're about three hundred k's an hour at their worst.

781
00:40:32,719 --> 00:40:34,440
Speaker 3: These winds are forecast to be about two hundred and

782
00:40:34,480 --> 00:40:36,120
Speaker 3: seventy k's an hour, and it was straight after the

783
00:40:36,160 --> 00:40:40,200
Speaker 3: christ Church earthquake, so I could kind of compare the

784
00:40:40,239 --> 00:40:43,520
Speaker 3: scale of the damage. Honestly, it is hard for the

785
00:40:43,640 --> 00:40:47,560
Speaker 3: human being to comprehend, for human beings to comprehend just

786
00:40:48,239 --> 00:40:51,239
Speaker 3: what two hundred and seventy or three hundred kilometers now

787
00:40:51,400 --> 00:40:55,000
Speaker 3: means in terms of wind strength. The devastation is absolute.

788
00:40:55,040 --> 00:40:58,880
Speaker 3: It like completely scours the earth. Combine that with the

789
00:40:58,920 --> 00:41:01,640
Speaker 3: storm serge making a stormsage of about four and a

790
00:41:01,719 --> 00:41:05,080
Speaker 3: half meters along the Florida coast. I mean, this really

791
00:41:05,080 --> 00:41:08,200
Speaker 3: has the potential to be a catastrophic storm and as

792
00:41:08,200 --> 00:41:10,400
Speaker 3: well as the human cost. Of course, there is an

793
00:41:10,400 --> 00:41:12,759
Speaker 3: election in the us less than a month away. Quarter

794
00:41:12,760 --> 00:41:17,040
Speaker 3: past five on Newstalk's EDB seventeen past five on Newstalks

795
00:41:17,120 --> 00:41:19,400
Speaker 3: EDB so Chris Bishop, who is the Minister of Sport

796
00:41:19,400 --> 00:41:23,120
Speaker 3: and Recreation, has today asked Sport New Zealand to review

797
00:41:23,239 --> 00:41:26,720
Speaker 3: and update its principles for the inclusion of transgender people

798
00:41:26,719 --> 00:41:29,319
Speaker 3: in community sport. He says that the current guidelines don't

799
00:41:29,320 --> 00:41:33,600
Speaker 3: reflect expectations that sport be about fairness and safety as

800
00:41:33,640 --> 00:41:36,560
Speaker 3: well as diversity, inclusion and equity. So he's going to

801
00:41:36,600 --> 00:41:38,319
Speaker 3: be with us before six o'clock this evening. We can

802
00:41:38,360 --> 00:41:41,200
Speaker 3: ask him exactly what that means right now though. Eighteen

803
00:41:41,239 --> 00:41:44,759
Speaker 3: past five and Cinnabon is coming to New Zealand. The

804
00:41:44,880 --> 00:41:48,360
Speaker 3: popular American bakery will open its first store at Westfield

805
00:41:48,400 --> 00:41:51,200
Speaker 3: Newmarket next month. It'll start off selling many of its

806
00:41:51,239 --> 00:41:54,279
Speaker 3: classic cinnamon rolls and blended frozen drinks which come in

807
00:41:54,320 --> 00:41:58,040
Speaker 3: flavors like mangoes, strawberry, and cookies and cream. Kaithan Peric

808
00:41:58,160 --> 00:42:00,719
Speaker 3: is the director of sinab On New Zealand, the franchise

809
00:42:00,800 --> 00:42:01,680
Speaker 3: rights and it is with us now.

810
00:42:01,719 --> 00:42:04,600
Speaker 11: Hi, Kathan, hey, thank you, thank you for having me.

811
00:42:04,840 --> 00:42:08,880
Speaker 3: Why did you want to bring Cinnabon to New Zealand.

812
00:42:08,960 --> 00:42:11,520
Speaker 11: You know, I've looked at the franchise for a while now,

813
00:42:11,760 --> 00:42:15,960
Speaker 11: had it overseas a couple of times and thought that

814
00:42:16,160 --> 00:42:20,680
Speaker 11: there's something that needed to come to New Zealand. And yeah,

815
00:42:20,880 --> 00:42:22,759
Speaker 11: a treat to give to New Zealanders.

816
00:42:22,800 --> 00:42:24,960
Speaker 3: So for people who don't know what cinnabon is, can

817
00:42:25,000 --> 00:42:27,080
Speaker 3: you describe it?

818
00:42:27,080 --> 00:42:31,800
Speaker 11: It's the best cinnamon roles that you ever eat. We

819
00:42:32,200 --> 00:42:35,319
Speaker 11: provide you know, frosting on it, with lots of other

820
00:42:35,440 --> 00:42:40,320
Speaker 11: treats such as coffee chiladas. Yeah, it's it's package.

821
00:42:40,560 --> 00:42:44,160
Speaker 3: It's a sometimes food delicious, but definitely are sometimes food.

822
00:42:44,160 --> 00:42:46,080
Speaker 3: There'd be a fair assessment of a sinnabon, right.

823
00:42:47,000 --> 00:42:49,800
Speaker 11: Yeah, it's a treat, you know, just that one extra

824
00:42:50,200 --> 00:42:53,680
Speaker 11: thing that you need after dinner as a treat your

825
00:42:53,719 --> 00:42:54,320
Speaker 11: sweet tooth.

826
00:42:54,600 --> 00:42:57,759
Speaker 3: Yeah. So obviously this has been a huge success in

827
00:42:57,800 --> 00:43:00,520
Speaker 3: some other markets like the US. Why did you think

828
00:43:00,560 --> 00:43:02,240
Speaker 3: that it would be a big deal in New Zealand.

829
00:43:03,719 --> 00:43:06,680
Speaker 11: We've been studying the Asia Pacific markets for a while now,

830
00:43:06,800 --> 00:43:10,120
Speaker 11: and with the success that it's had in Australia and

831
00:43:10,360 --> 00:43:13,320
Speaker 11: with the rapid expansion that it's doing in the Southern

832
00:43:13,360 --> 00:43:16,520
Speaker 11: Asian markets in the Pacific, market in Australia. We definitely

833
00:43:16,520 --> 00:43:19,160
Speaker 11: thought that this was something that would be really good

834
00:43:19,239 --> 00:43:23,120
Speaker 11: in New Zealand, and it would we can be expand a.

835
00:43:23,040 --> 00:43:23,720
Speaker 16: Lot as well.

836
00:43:24,120 --> 00:43:26,359
Speaker 3: How tricky is it to pick up the franchise rights

837
00:43:26,360 --> 00:43:27,320
Speaker 3: for something like Sinnabon.

838
00:43:29,200 --> 00:43:32,120
Speaker 11: They're a couple of hopes and hurdles to go through.

839
00:43:32,200 --> 00:43:35,200
Speaker 11: But in the sense of you know, setting up and stuff,

840
00:43:35,200 --> 00:43:39,120
Speaker 11: it's pretty It's pretty hard, but it also has a

841
00:43:39,160 --> 00:43:41,520
Speaker 11: toll on you. But we're all it's pretty good.

842
00:43:41,960 --> 00:43:44,200
Speaker 3: And what are you hoping for Cinnabon and New Zealand.

843
00:43:44,280 --> 00:43:45,880
Speaker 3: Are we going to see more than one store?

844
00:43:47,120 --> 00:43:50,239
Speaker 11: Definitely so over the next five years we're looking at

845
00:43:50,360 --> 00:43:55,960
Speaker 11: rapid expansion all over, firstly in Auckland and then towards

846
00:43:56,000 --> 00:43:57,200
Speaker 11: the other parts of the country.

847
00:43:57,320 --> 00:44:00,000
Speaker 3: Good stuff, good good luck, Kithin. We appreciate your time,

848
00:44:00,080 --> 00:44:02,560
Speaker 3: kaith and Perk who is the director of Sinnabon New Zealand,

849
00:44:02,560 --> 00:44:05,080
Speaker 3: and thank you for your text regarding the ocr Jack

850
00:44:05,080 --> 00:44:07,640
Speaker 3: Adrian all needs to go misread it badly on the

851
00:44:07,680 --> 00:44:09,879
Speaker 3: way down, misread it badly on the way back up.

852
00:44:09,960 --> 00:44:12,080
Speaker 3: I suppose we could reverse those two things to anyone

853
00:44:12,080 --> 00:44:14,680
Speaker 3: else in any other industry would be let go, but

854
00:44:14,800 --> 00:44:15,640
Speaker 3: he was protected.

855
00:44:16,360 --> 00:44:16,600
Speaker 5: Jack.

856
00:44:16,640 --> 00:44:18,320
Speaker 3: People have got to stop blaming the Reserve Bank and

857
00:44:18,360 --> 00:44:20,360
Speaker 3: actually do some homework. I'm a mechanic. I've had my

858
00:44:20,400 --> 00:44:23,759
Speaker 3: mortgage split in five different accounts since we first bought

859
00:44:23,800 --> 00:44:26,040
Speaker 3: in two thousand and seven in Auckland. As far as

860
00:44:26,080 --> 00:44:29,160
Speaker 3: I'm concerned, I'm not boasting. But people need to read

861
00:44:29,160 --> 00:44:30,920
Speaker 3: the market, they need to read the economy. They need

862
00:44:30,960 --> 00:44:32,400
Speaker 3: to read the government of the day as well as

863
00:44:32,400 --> 00:44:34,759
Speaker 3: what's happening in the world. Don't blame the Reserve Bank

864
00:44:34,840 --> 00:44:37,520
Speaker 3: for ill informed and uneducated decisions when it comes to

865
00:44:37,560 --> 00:44:39,839
Speaker 3: your home loans. Thank you for that ninety two ninety two.

866
00:44:39,880 --> 00:44:42,399
Speaker 3: If you want to send us a message, it's twenty

867
00:44:42,440 --> 00:44:43,360
Speaker 3: one past five.

868
00:44:44,680 --> 00:44:48,440
Speaker 2: The day's newsweakers talk to Jack first, Jack dame On,

869
00:44:48,600 --> 00:44:51,480
Speaker 2: Heather Dupless, Alan drive with one New Zealand.

870
00:44:51,640 --> 00:44:53,600
Speaker 1: Let's get connected and used talk as.

871
00:44:53,480 --> 00:44:58,120
Speaker 3: Said be Okay, pop quiz, What of these do you

872
00:44:58,160 --> 00:45:01,879
Speaker 3: think causes the highest number of premature deaths in New Zealand? Okay,

873
00:45:01,960 --> 00:45:04,640
Speaker 3: bit of a macarb pop quiz? But what of these

874
00:45:04,640 --> 00:45:06,920
Speaker 3: do you think causes the highest number of premature deaths?

875
00:45:07,200 --> 00:45:16,279
Speaker 3: Bowel cancer, diabetes, road crashes, melanoma, air pollution. This is

876
00:45:16,320 --> 00:45:19,480
Speaker 3: going to seem unbelievable to many keywis, But according to

877
00:45:19,520 --> 00:45:24,480
Speaker 3: the Ministry of the Environment and Statistics New Zealand, here

878
00:45:24,520 --> 00:45:27,840
Speaker 3: in good old cleaning green one hundred percent pure New Zealand,

879
00:45:28,000 --> 00:45:31,640
Speaker 3: air pollution kills more people than all of those other

880
00:45:31,800 --> 00:45:37,080
Speaker 3: causes combined. Just think about that, diabetes, bowel cancer, road crashes, melanoma.

881
00:45:37,120 --> 00:45:39,799
Speaker 3: Put them in a blender, add them all together, all

882
00:45:39,800 --> 00:45:43,440
Speaker 3: of those deaths, and air pollution still comes out top

883
00:45:43,520 --> 00:45:47,600
Speaker 3: of the macarb pops. That's crazy, isn't it so. According

884
00:45:47,600 --> 00:45:50,800
Speaker 3: to the study release today, even though air pollution standards

885
00:45:50,800 --> 00:45:54,640
Speaker 3: have improved, in twenty nineteen, air pollution was associated with

886
00:45:54,719 --> 00:45:57,480
Speaker 3: three two hundred deaths in New Zealand. That's more than

887
00:45:57,480 --> 00:45:59,280
Speaker 3: the number of people who died on nine to eleven

888
00:46:00,200 --> 00:46:02,920
Speaker 3: In a country our size, with our wealth and with

889
00:46:03,000 --> 00:46:06,839
Speaker 3: our regulatory framework, you would have to say more than

890
00:46:06,920 --> 00:46:11,239
Speaker 3: three thousand deaths every year attributable to air pollution is

891
00:46:11,280 --> 00:46:12,280
Speaker 3: a disgraceful figure.

892
00:46:12,440 --> 00:46:12,680
Speaker 4: It is.

893
00:46:12,760 --> 00:46:17,319
Speaker 3: It's disgraceful. According to the Triennial study, about one in

894
00:46:17,400 --> 00:46:20,520
Speaker 3: ten deaths in twenty nineteen was attributable to air pollution.

895
00:46:20,960 --> 00:46:23,480
Speaker 3: The social costs are in the billions of dollars, and

896
00:46:23,520 --> 00:46:27,560
Speaker 3: that doesn't include the increasingly well documented impact on brain

897
00:46:27,640 --> 00:46:33,560
Speaker 3: function and intelligence that comes from prolonged exposure to air pollution. Now,

898
00:46:33,680 --> 00:46:36,719
Speaker 3: like all health stats are, of course, poor people in

899
00:46:36,800 --> 00:46:41,320
Speaker 3: poor communities are the most negatively affected. The biggest cause

900
00:46:41,480 --> 00:46:45,120
Speaker 3: is no surprise though, it's traffic pollution. But as the

901
00:46:45,160 --> 00:46:49,200
Speaker 3: science improves, the impact of traffic pollution of traffic on

902
00:46:49,320 --> 00:46:53,399
Speaker 3: air pollution only gets worse. So basically, traffic causes us

903
00:46:53,680 --> 00:46:58,080
Speaker 3: way more harm than we previously understood. The report suggests

904
00:46:58,520 --> 00:47:01,440
Speaker 3: that get this, about seventy percent of the air pollution

905
00:47:01,560 --> 00:47:05,440
Speaker 3: debts and about seventy percent of more than thirteen thousand

906
00:47:05,640 --> 00:47:09,720
Speaker 3: annual hospitalizations from air pollution are caused from traffic pollution

907
00:47:11,200 --> 00:47:13,960
Speaker 3: seventy percent. And of course, when you take the cars

908
00:47:13,960 --> 00:47:16,800
Speaker 3: off the road long and behold, the air quality improves.

909
00:47:17,040 --> 00:47:22,040
Speaker 3: So if you ever needed a greater reason for better

910
00:47:22,120 --> 00:47:26,600
Speaker 3: investment in public transport services, for massively speeding up the

911
00:47:26,680 --> 00:47:30,320
Speaker 3: EV roll out, and for congestion charging in our cities,

912
00:47:30,400 --> 00:47:32,919
Speaker 3: I reckon three two hundred deaths a year?

913
00:47:33,680 --> 00:47:35,160
Speaker 1: Is it deep?

914
00:47:35,840 --> 00:47:38,120
Speaker 3: Two ninety two is our text number if you want

915
00:47:38,120 --> 00:47:40,680
Speaker 3: to get in touch. Okay, this is more vibes than analytics.

916
00:47:41,160 --> 00:47:43,040
Speaker 3: But I have a habit of going onto One Roof

917
00:47:43,040 --> 00:47:45,240
Speaker 3: all the time and just checking out new property listings,

918
00:47:45,280 --> 00:47:47,400
Speaker 3: and it struck me this week this is one hundred

919
00:47:47,440 --> 00:47:50,240
Speaker 3: percent vibes and not analytics. It struck me this week

920
00:47:50,960 --> 00:47:54,239
Speaker 3: that there were many more new listings at the start

921
00:47:54,280 --> 00:47:56,000
Speaker 3: of the week than there would usually be. You know,

922
00:47:56,120 --> 00:47:59,200
Speaker 3: usually new listings come out on like a Wednesday Thursday

923
00:47:59,719 --> 00:48:01,360
Speaker 3: so that they can be ready for the open homes

924
00:48:01,400 --> 00:48:04,160
Speaker 3: on the weekend. Well, when I logged into One Roof

925
00:48:04,200 --> 00:48:05,480
Speaker 3: at the start of this week, I thought, man, there

926
00:48:05,480 --> 00:48:07,360
Speaker 3: are a few more listings this week, and I reckon,

927
00:48:07,400 --> 00:48:09,799
Speaker 3: here's the Jacktame theory that a lot of people who

928
00:48:09,800 --> 00:48:12,279
Speaker 3: are looking to sell their homes were trying to get

929
00:48:12,280 --> 00:48:16,400
Speaker 3: a nice and early before the OCR cut. So after

930
00:48:16,440 --> 00:48:18,120
Speaker 3: six o'clock this evening, we're going to catch up with

931
00:48:18,160 --> 00:48:21,880
Speaker 3: core Logics chief Property Economists get his thoughts on what

932
00:48:22,000 --> 00:48:24,560
Speaker 3: the OCR cut is going to mean for house prices

933
00:48:24,560 --> 00:48:28,080
Speaker 3: in New Zealand and demand across different parts of the

934
00:48:28,080 --> 00:48:30,400
Speaker 3: property sector. He will be with us very shortly. Our

935
00:48:30,480 --> 00:48:33,960
Speaker 3: huddle coming up after five thirty, though it's almost five thirty.

936
00:48:34,200 --> 00:48:36,960
Speaker 3: We'll get to your feedback very shortly. News is next,

937
00:48:37,000 --> 00:48:39,000
Speaker 3: though you were Jack tame on Newstalk zedb.

938
00:48:42,520 --> 00:48:45,000
Speaker 1: The name you trust to get the answers you need.

939
00:48:45,280 --> 00:48:46,160
Speaker 1: Jack tame on.

940
00:48:46,280 --> 00:48:50,320
Speaker 2: Heather Dupless, Alan drive with one New Zealand. Let's get connected.

941
00:48:50,360 --> 00:48:59,920
Speaker 1: A news talk said, Bucky please kiss.

942
00:49:07,520 --> 00:49:11,120
Speaker 3: News still dead you with Jack tame before six o'clock.

943
00:49:11,120 --> 00:49:14,400
Speaker 3: Our huddle this evening Jordan Williams and Simon Wilson right

944
00:49:14,480 --> 00:49:16,279
Speaker 3: now though it is twenty five minutes to six on

945
00:49:16,360 --> 00:49:18,520
Speaker 3: News Tooks. He'd be in the government his today asked

946
00:49:18,640 --> 00:49:21,480
Speaker 3: Sport New Zealand to review and update their principles for

947
00:49:21,560 --> 00:49:25,480
Speaker 3: the inclusion of transgender people in community Sport, outlining that

948
00:49:25,520 --> 00:49:29,000
Speaker 3: the current guidelines don't reflect expectations that sport be about

949
00:49:29,080 --> 00:49:32,360
Speaker 3: fairness and safety as well as diversity, inclusion and equity.

950
00:49:32,719 --> 00:49:35,200
Speaker 3: The Minister in charge of this is Chris Bishop, who's

951
00:49:35,200 --> 00:49:36,640
Speaker 3: with us this evening, Kilda.

952
00:49:37,320 --> 00:49:38,160
Speaker 17: Good afternoon.

953
00:49:38,320 --> 00:49:39,399
Speaker 3: Well what does this actually mean.

954
00:49:41,040 --> 00:49:43,279
Speaker 17: It means that Sport New Zealand will be updating the

955
00:49:43,360 --> 00:49:47,440
Speaker 17: guidelines they published and well first published in December twenty

956
00:49:47,480 --> 00:49:52,239
Speaker 17: twenty two. They're not mandatory, they're just guiding principles around

957
00:49:52,239 --> 00:49:54,640
Speaker 17: the inclusion of transgender people in community sports. This is

958
00:49:54,760 --> 00:49:57,720
Speaker 17: not about elite sport where there are different rules obviously,

959
00:49:58,000 --> 00:50:00,759
Speaker 17: so they'll be updating those guidelines and getting an update

960
00:50:00,760 --> 00:50:01,759
Speaker 17: from them in the coming months.

961
00:50:01,960 --> 00:50:04,880
Speaker 3: And what does it mean for the inclusion of transgender

962
00:50:04,920 --> 00:50:06,080
Speaker 3: people in community sport.

963
00:50:06,440 --> 00:50:09,560
Speaker 17: It's just simply making the point that it is really

964
00:50:09,560 --> 00:50:13,200
Speaker 17: important that transgender people can participate at a community level.

965
00:50:13,280 --> 00:50:15,400
Speaker 17: But the way the guidelines work at the moment is

966
00:50:15,480 --> 00:50:20,120
Speaker 17: they're solely focused or almost near exclusively focused on diversity,

967
00:50:20,239 --> 00:50:23,040
Speaker 17: inclusion and equity. But it's our view, and I think

968
00:50:23,160 --> 00:50:26,120
Speaker 17: many people in the community's view that sport is also

969
00:50:26,200 --> 00:50:28,879
Speaker 17: about fairness and safety, and so it's just making sure

970
00:50:28,920 --> 00:50:32,480
Speaker 17: the guidelines reflect those legitimate expectations as well. And so

971
00:50:32,600 --> 00:50:34,840
Speaker 17: it's about taking a bit more of a balanced approach

972
00:50:34,920 --> 00:50:35,960
Speaker 17: to what the guidelines say.

973
00:50:36,239 --> 00:50:40,520
Speaker 3: Why is fairness an issue when it comes to community sport.

974
00:50:42,440 --> 00:50:46,320
Speaker 17: Because sport is ultimately about competition and about winning and

975
00:50:46,520 --> 00:50:49,879
Speaker 17: losing and about competing, and I think most people who

976
00:50:49,920 --> 00:50:53,719
Speaker 17: follow sport will know that even at a community level,

977
00:50:53,800 --> 00:50:58,520
Speaker 17: it's really important that it's fair, and so the guidelines

978
00:50:58,520 --> 00:50:59,759
Speaker 17: will be updated to reflect that.

979
00:51:00,440 --> 00:51:05,000
Speaker 3: Will this mean do you think that transgender people are

980
00:51:06,600 --> 00:51:09,399
Speaker 3: do you think fewer transgender people will play community sport.

981
00:51:11,000 --> 00:51:15,560
Speaker 17: Well, I really hope not. And as part of kind

982
00:51:15,600 --> 00:51:17,359
Speaker 17: of coming to the view that we need to update

983
00:51:17,400 --> 00:51:20,480
Speaker 17: the guidelines, I have talked to a range of different

984
00:51:20,520 --> 00:51:23,759
Speaker 17: people in the community and a range of different organizations

985
00:51:24,640 --> 00:51:29,239
Speaker 17: and my hope and expectations that doesn't happen. And I

986
00:51:29,320 --> 00:51:31,160
Speaker 17: think we need to realize that these are just these

987
00:51:31,160 --> 00:51:33,680
Speaker 17: are just guiding principles. These are not mandatory. They're just

988
00:51:33,760 --> 00:51:36,839
Speaker 17: designed to help sporting organizations grapple with It's quite tricky issue.

989
00:51:37,239 --> 00:51:39,160
Speaker 3: It is a tricky issue. I know it's really contentious,

990
00:51:39,160 --> 00:51:40,120
Speaker 3: but why wouldn't that happen.

991
00:51:42,160 --> 00:51:46,440
Speaker 17: Well, ultimately it's over to sporting bodies to develop rules

992
00:51:46,480 --> 00:51:47,840
Speaker 17: and regulations and guidance.

993
00:51:48,000 --> 00:51:50,239
Speaker 3: They've been able to do that, I mean, they can

994
00:51:50,280 --> 00:51:51,919
Speaker 3: do that now, there's nothing to say they.

995
00:51:51,840 --> 00:51:54,320
Speaker 17: Can, and they can and they are. They are, I

996
00:51:54,360 --> 00:51:56,200
Speaker 17: mean many of them are. The reason why these guidelines

997
00:51:56,280 --> 00:51:57,800
Speaker 17: existed in the first place is that many of the

998
00:51:57,840 --> 00:52:01,080
Speaker 17: sports said, look, we just really need some help here.

999
00:52:01,120 --> 00:52:03,120
Speaker 17: We don't really know what we're doing, and so they

1000
00:52:03,160 --> 00:52:04,560
Speaker 17: went to Sport in New Zealand, which is the kind

1001
00:52:04,560 --> 00:52:06,360
Speaker 17: of you know, overarching body and support the zeal And

1002
00:52:06,400 --> 00:52:10,239
Speaker 17: develop these guidelines in there for a couple of years

1003
00:52:10,320 --> 00:52:12,680
Speaker 17: now almost a couple of years. I'm just asking them

1004
00:52:12,719 --> 00:52:14,880
Speaker 17: to update them to reflect the fact that it's not

1005
00:52:15,120 --> 00:52:18,520
Speaker 17: just about inclusion that is really important, but it's also

1006
00:52:18,600 --> 00:52:20,080
Speaker 17: about fairness and safety.

1007
00:52:20,200 --> 00:52:23,520
Speaker 3: But why wouldn't it mean fewer transgender people playing community sport?

1008
00:52:25,400 --> 00:52:25,600
Speaker 5: Well?

1009
00:52:25,920 --> 00:52:28,160
Speaker 17: I mean, ultimately, we want everyone to be able to

1010
00:52:28,200 --> 00:52:31,719
Speaker 17: participate in community sport, and we want everyone to be

1011
00:52:31,800 --> 00:52:35,000
Speaker 17: able to join their local rugby club, join their local

1012
00:52:35,080 --> 00:52:37,520
Speaker 17: softball club, basket or whatever it is that people choose

1013
00:52:37,560 --> 00:52:39,319
Speaker 17: to do. I want as many people playing sport as

1014
00:52:39,360 --> 00:52:42,840
Speaker 17: possible in New Zealand. It's just about making sure we

1015
00:52:43,000 --> 00:52:45,440
Speaker 17: do that in a way that is inclusive of everybody

1016
00:52:45,520 --> 00:52:50,160
Speaker 17: but also recognizes the realities of having transgender people participate

1017
00:52:50,239 --> 00:52:52,680
Speaker 17: at a community level. It does produce challenges for sports,

1018
00:52:53,000 --> 00:52:55,360
Speaker 17: and it does produce challenges for clubs, and it's just

1019
00:52:55,400 --> 00:53:00,080
Speaker 17: about navigating our way through that as a community and

1020
00:53:00,200 --> 00:53:02,360
Speaker 17: making sure that everyone's feel safe and accepted.

1021
00:53:02,920 --> 00:53:05,919
Speaker 3: Why won't that mean fewer transgender people playing community sport?

1022
00:53:06,800 --> 00:53:07,560
Speaker 17: I don't think it will.

1023
00:53:08,320 --> 00:53:08,600
Speaker 18: Why not?

1024
00:53:10,520 --> 00:53:11,360
Speaker 11: Well, because I.

1025
00:53:12,880 --> 00:53:15,239
Speaker 17: Backed sports and I backed sporting bodies and.

1026
00:53:15,239 --> 00:53:17,800
Speaker 3: The sporting bodies can sit their own standards. Now we've

1027
00:53:17,880 --> 00:53:21,000
Speaker 3: established that, So why won't giving sports into these rules.

1028
00:53:21,360 --> 00:53:25,080
Speaker 3: Why won't that mean fewer transgender people playing sport well?

1029
00:53:25,120 --> 00:53:27,480
Speaker 17: Because I think actually that the guidelines have been well

1030
00:53:27,520 --> 00:53:30,480
Speaker 17: received by the sporting by sporting bodies, But that.

1031
00:53:30,480 --> 00:53:33,840
Speaker 3: Doesn't explain why fewer Why it won't mean fewer transgender

1032
00:53:33,880 --> 00:53:36,239
Speaker 3: people playing sport well.

1033
00:53:36,320 --> 00:53:38,520
Speaker 17: But it also doesn't explain why there will be I mean,

1034
00:53:38,840 --> 00:53:40,839
Speaker 17: you know, you sort of a little bit securitus. I mean,

1035
00:53:41,160 --> 00:53:44,560
Speaker 17: the guidelines are out there, sporting bodies wanted them, they've

1036
00:53:44,800 --> 00:53:48,200
Speaker 17: been published. I'm asking them to be updated to reflect

1037
00:53:48,920 --> 00:53:51,160
Speaker 17: more a slightly more balanced approach to the one hand

1038
00:53:51,160 --> 00:53:56,480
Speaker 17: which they are utilized by by sporting bodies. I have

1039
00:53:56,920 --> 00:53:59,960
Speaker 17: every expectation that transgender people will be able to participate

1040
00:54:00,000 --> 00:54:01,840
Speaker 17: in the community sport, and in fact I welcome that

1041
00:54:01,920 --> 00:54:04,120
Speaker 17: because I want everyone who wants to play sports be

1042
00:54:04,160 --> 00:54:04,640
Speaker 17: able to do so.

1043
00:54:04,920 --> 00:54:04,960
Speaker 19: So.

1044
00:54:05,320 --> 00:54:11,120
Speaker 3: If a transgender person can't play a sport playing as

1045
00:54:11,160 --> 00:54:13,800
Speaker 3: part of a team, for example, in the gender for

1046
00:54:13,880 --> 00:54:15,480
Speaker 3: which they identify, what do they do.

1047
00:54:16,560 --> 00:54:17,520
Speaker 16: Well, look at depends.

1048
00:54:17,800 --> 00:54:20,000
Speaker 17: This is the thing is, there's no hard and fast

1049
00:54:20,080 --> 00:54:23,640
Speaker 17: rules here, right, and it depends on the sport. So treason,

1050
00:54:23,760 --> 00:54:27,920
Speaker 17: for example, has an open category that anyone can participate in,

1051
00:54:28,000 --> 00:54:31,080
Speaker 17: including transgender people. New Galan Rugby League already has a

1052
00:54:31,120 --> 00:54:33,680
Speaker 17: policy that at age thirteen and over, you have to

1053
00:54:33,760 --> 00:54:36,880
Speaker 17: participate in the gender that you're assigned at birth. So

1054
00:54:37,000 --> 00:54:39,920
Speaker 17: it really depends on the sporting code. Some sports are

1055
00:54:39,960 --> 00:54:43,359
Speaker 17: more of a further advance on dealing with this than others.

1056
00:54:43,800 --> 00:54:46,360
Speaker 17: Some bodies just don't even have a policy around the stuff.

1057
00:54:47,080 --> 00:54:49,640
Speaker 17: Some are more advances. I've sort indicated a couple of examples,

1058
00:54:49,680 --> 00:54:52,160
Speaker 17: so there are Part of the issue with this is

1059
00:54:52,239 --> 00:54:54,760
Speaker 17: that there aren't hard and fast rules and often the debate,

1060
00:54:55,080 --> 00:54:59,080
Speaker 17: the debate descends into binaries and actually, you know that's

1061
00:54:59,120 --> 00:54:59,760
Speaker 17: part of the problem.

1062
00:54:59,840 --> 00:55:04,480
Speaker 3: That's irony. Yes, yeah, I thank you for your time.

1063
00:55:04,520 --> 00:55:06,400
Speaker 3: I know it is a contentious issue, so we appreciate

1064
00:55:06,440 --> 00:55:08,640
Speaker 3: your time. This evening. That is Chris Bishop right now,

1065
00:55:08,680 --> 00:55:11,120
Speaker 3: it's nineteen to six The Huddle.

1066
00:55:11,160 --> 00:55:15,360
Speaker 2: With New Zealand Southeast International Realty, Local and global exposure

1067
00:55:15,560 --> 00:55:16,360
Speaker 2: like no other.

1068
00:55:16,280 --> 00:55:18,920
Speaker 3: Burned out huddle this evening. Jordan Williams from the Taxpayers

1069
00:55:18,960 --> 00:55:21,959
Speaker 3: Union and New Zealand Herald's senior writer, Simon Wilson held

1070
00:55:21,960 --> 00:55:25,240
Speaker 3: accord to You're right, gents, let's start off with response

1071
00:55:25,280 --> 00:55:28,040
Speaker 3: to the ocr fifty basis points today. Jordan, Presumably that's

1072
00:55:28,080 --> 00:55:28,960
Speaker 3: what you wanted to see.

1073
00:55:30,000 --> 00:55:32,120
Speaker 7: Yeah, well, there'll be a lot of mortgage holders and

1074
00:55:32,120 --> 00:55:34,279
Speaker 7: people in my generation mortgaged up to the eyeballs that

1075
00:55:34,320 --> 00:55:37,480
Speaker 7: will be over the moon seeing this. But I mean

1076
00:55:37,640 --> 00:55:39,480
Speaker 7: it's almost inevitable now we're going to go back into

1077
00:55:39,520 --> 00:55:42,360
Speaker 7: a technical recession. But we don't really look at that

1078
00:55:42,440 --> 00:55:46,279
Speaker 7: the taxpayers union. It's more the GDP per capita and

1079
00:55:46,440 --> 00:55:50,520
Speaker 7: it's we're now in the longest recession since records began.

1080
00:55:50,640 --> 00:55:52,240
Speaker 7: When you look at it sort of what we're producing

1081
00:55:52,280 --> 00:55:52,800
Speaker 7: per person.

1082
00:55:53,360 --> 00:55:53,520
Speaker 1: Now.

1083
00:55:54,080 --> 00:55:56,400
Speaker 7: You know, Adriana was doing his bit, but actually the

1084
00:55:56,480 --> 00:55:58,960
Speaker 7: government's really going to have to do the other part

1085
00:55:59,000 --> 00:56:04,000
Speaker 7: of the heavy lifting, which reform that encourages economic growth.

1086
00:56:04,680 --> 00:56:08,200
Speaker 20: Simon, It goes to economic growth, doesn't it, Jordan. I

1087
00:56:08,239 --> 00:56:10,320
Speaker 20: know that's the view of the taxpayers, you know, and

1088
00:56:10,360 --> 00:56:11,120
Speaker 20: I've seen your appress.

1089
00:56:11,200 --> 00:56:15,000
Speaker 7: Well, yeah, it's inherently good growth people out of poverty.

1090
00:56:15,120 --> 00:56:17,320
Speaker 20: Growth is the only answer, is I'm quoting.

1091
00:56:17,719 --> 00:56:19,520
Speaker 21: Well, it's brought a billion people out of poverty in

1092
00:56:19,560 --> 00:56:23,200
Speaker 21: my lifetime. Simon, Well, let me Yeah, that's a debatable statistic.

1093
00:56:23,239 --> 00:56:25,400
Speaker 21: But what I really wanted to ask you though, was

1094
00:56:25,800 --> 00:56:28,880
Speaker 21: how is it you can talk about growth, which obviously

1095
00:56:29,360 --> 00:56:33,200
Speaker 21: helps with jobs, with profits, with enterprise, with opportunity, does

1096
00:56:33,280 --> 00:56:36,280
Speaker 21: all those things, but at the same time is creating

1097
00:56:36,320 --> 00:56:39,200
Speaker 21: a planet that is unsustainable for everybody to live on.

1098
00:56:39,840 --> 00:56:42,560
Speaker 21: You can't just talk about growth. You have to talk

1099
00:56:42,640 --> 00:56:47,040
Speaker 21: about that in a wider context. And when you reduce that,

1100
00:56:47,320 --> 00:56:50,040
Speaker 21: when you take away the wider context, when you simply say, Okay,

1101
00:56:50,080 --> 00:56:52,160
Speaker 21: we're going to make money cheaper so everybody can get

1102
00:56:52,200 --> 00:56:54,759
Speaker 21: on and pretend that nothing else is going wrong, that

1103
00:56:55,000 --> 00:56:57,360
Speaker 21: is a recipe for a dangerous solution.

1104
00:56:58,400 --> 00:57:00,720
Speaker 3: Jordan said, like a true.

1105
00:57:00,600 --> 00:57:04,400
Speaker 7: Boomer, this is nineteen sixties theory around.

1106
00:57:04,600 --> 00:57:06,879
Speaker 3: It's not funny sixty short.

1107
00:57:07,880 --> 00:57:08,680
Speaker 22: The short point is.

1108
00:57:10,560 --> 00:57:13,920
Speaker 7: A cross perus. New Zealand has far more options around

1109
00:57:14,239 --> 00:57:15,920
Speaker 7: protecting the environment than a.

1110
00:57:15,960 --> 00:57:16,680
Speaker 3: Paw News island.

1111
00:57:17,040 --> 00:57:20,439
Speaker 20: That's the sixties argument, Jordan. The idea that we fix

1112
00:57:20,480 --> 00:57:22,920
Speaker 20: the economy and at some time when everything's sweet and

1113
00:57:22,960 --> 00:57:25,200
Speaker 20: we'll be able to look after the environment. That is

1114
00:57:25,560 --> 00:57:27,440
Speaker 20: that is what has got us in. That is business

1115
00:57:27,480 --> 00:57:29,760
Speaker 20: as usual. That is what has got us into trouble. Now,

1116
00:57:30,080 --> 00:57:33,120
Speaker 20: I'm not saying that we shouldn't have economic progress, of

1117
00:57:33,240 --> 00:57:35,680
Speaker 20: course we should, but I am saying that when you

1118
00:57:36,040 --> 00:57:38,920
Speaker 20: only talk about economic progress and don't talk about the

1119
00:57:39,080 --> 00:57:42,080
Speaker 20: wider context, you're not going to have an economy to progress.

1120
00:57:43,360 --> 00:57:49,440
Speaker 3: Right back to the ICR, Well, Jordan, it's interesting. So

1121
00:57:49,480 --> 00:57:51,000
Speaker 3: I've been trying to find out who's upset about the

1122
00:57:51,000 --> 00:57:54,400
Speaker 3: i CR today, right and obviously anyone who's got a

1123
00:57:54,480 --> 00:57:56,439
Speaker 3: significant sum in their savings and I going to see

1124
00:57:56,440 --> 00:58:00,160
Speaker 3: their savings rates eaten into a little bit. But you know,

1125
00:58:00,160 --> 00:58:02,080
Speaker 3: we've got a couple of texts from people who fixed

1126
00:58:02,280 --> 00:58:05,680
Speaker 3: back in June looking at the commentary from the Reserve

1127
00:58:05,760 --> 00:58:08,760
Speaker 3: Bank at that time and feel like they have been misled.

1128
00:58:08,840 --> 00:58:10,120
Speaker 3: Do you think they have a case to make?

1129
00:58:11,240 --> 00:58:14,120
Speaker 7: Well, I fixed just a part of my mortgage, although

1130
00:58:14,240 --> 00:58:17,320
Speaker 7: not for very long, to heat my bets a little bit,

1131
00:58:17,360 --> 00:58:20,320
Speaker 7: only a few months ago. So I'm a little bit annoyed,

1132
00:58:20,400 --> 00:58:23,000
Speaker 7: but not as annoyed as my head of my bank

1133
00:58:23,080 --> 00:58:25,280
Speaker 7: coming out for capital gains tax.

1134
00:58:25,360 --> 00:58:27,080
Speaker 1: But that's a that's a different matter.

1135
00:58:27,400 --> 00:58:30,120
Speaker 7: I mean, look, I mean, you know, it's an open

1136
00:58:30,160 --> 00:58:33,120
Speaker 7: market for information, and reasonable minds can and did differ.

1137
00:58:33,160 --> 00:58:35,640
Speaker 20: Seventy seven percent of business leaders in the mood of

1138
00:58:35,680 --> 00:58:38,240
Speaker 20: the boardroom survey. I agreed with her, amazing.

1139
00:58:39,400 --> 00:58:41,000
Speaker 3: All right, all right, guys, we'll come back in a

1140
00:58:41,040 --> 00:58:45,200
Speaker 3: couple of minutes. Yeah, yeah, we'll come back to end

1141
00:58:45,200 --> 00:58:48,360
Speaker 3: a couple of minutes. Get your thoughts on the government's

1142
00:58:48,960 --> 00:58:51,400
Speaker 3: directive to Sports end Z, which I know is a

1143
00:58:51,480 --> 00:58:54,600
Speaker 3: contentious one quarter to six on Newstalks'd be the.

1144
00:58:54,680 --> 00:58:58,640
Speaker 2: Hubble with New Zealand Southeby's International Realty, elevate the marketing

1145
00:58:58,720 --> 00:59:00,040
Speaker 2: of your home Back with your.

1146
00:59:00,000 --> 00:59:02,560
Speaker 3: Lord and William Simon Wilson ow Huddle this evening. Simon,

1147
00:59:03,320 --> 00:59:06,120
Speaker 3: the government has asked Sports New Zealand to update their

1148
00:59:06,600 --> 00:59:10,640
Speaker 3: transgender community sport guidelines. I know this is just such

1149
00:59:10,800 --> 00:59:12,640
Speaker 3: a contentious sysy. There's no kind of no winning for

1150
00:59:12,720 --> 00:59:15,880
Speaker 3: anyone on this front. But is this the government's domain?

1151
00:59:16,840 --> 00:59:19,479
Speaker 20: I think you were your questions to the minister before

1152
00:59:19,520 --> 00:59:23,000
Speaker 20: when you're asking him are fewer transgender people going to

1153
00:59:23,040 --> 00:59:26,920
Speaker 20: be playing sport? The subtext of having the review is

1154
00:59:27,000 --> 00:59:30,480
Speaker 20: that that would be the likely outcome, but he didn't want.

1155
00:59:30,360 --> 00:59:30,680
Speaker 11: To say that.

1156
00:59:31,160 --> 00:59:33,320
Speaker 20: It strikes me that they've got a coalition agreement that

1157
00:59:33,360 --> 00:59:36,000
Speaker 20: they're going to have this review, but the national part

1158
00:59:36,080 --> 00:59:38,280
Speaker 20: of the government doesn't want to go anywhere near it.

1159
00:59:38,640 --> 00:59:40,840
Speaker 20: You couldn't hear in what Bishop was saying there was

1160
00:59:40,920 --> 00:59:44,040
Speaker 20: any any reason that he thought was any good why

1161
00:59:44,080 --> 00:59:46,480
Speaker 20: they're doing this at all. It's simply problem The thing

1162
00:59:46,560 --> 00:59:49,200
Speaker 20: that's weird about it is that he uses the code

1163
00:59:49,240 --> 00:59:53,360
Speaker 20: word fairness. We've had inclusion, we've had equity, now we're

1164
00:59:53,360 --> 00:59:56,680
Speaker 20: going to have more fairness. Fairness is in other contexts

1165
00:59:57,160 --> 01:00:00,160
Speaker 20: a word that means inclusion and equity as well, but

1166
01:00:00,320 --> 01:00:03,760
Speaker 20: in this case he's talking specifically about being more fair

1167
01:00:03,920 --> 01:00:10,600
Speaker 20: to susgender winner, and it's problematic that he's talking in

1168
01:00:10,760 --> 01:00:12,640
Speaker 20: code like that. I think it's a shame that he

1169
01:00:12,960 --> 01:00:13,680
Speaker 20: feels he has to.

1170
01:00:13,880 --> 01:00:16,480
Speaker 3: Jordan, do you draw a distinction on this issue between

1171
01:00:16,880 --> 01:00:19,040
Speaker 3: elite level sport and community sport?

1172
01:00:21,720 --> 01:00:21,840
Speaker 4: Oh?

1173
01:00:21,960 --> 01:00:24,080
Speaker 7: I really turn my mind to that. To be honest,

1174
01:00:24,520 --> 01:00:27,080
Speaker 7: I wanted to answer the question that Simon wouldn't quite

1175
01:00:27,120 --> 01:00:29,120
Speaker 7: answer then, and it's whether it's a role of government.

1176
01:00:29,440 --> 01:00:30,120
Speaker 1: I don't think it is.

1177
01:00:30,960 --> 01:00:34,000
Speaker 7: The problem here is that Sports New Zealand had guidance

1178
01:00:34,240 --> 01:00:39,600
Speaker 7: that these Olympians have disagreed with. But in a perfect world,

1179
01:00:39,680 --> 01:00:41,400
Speaker 7: I'd say, look, it should be up to the sporting

1180
01:00:41,480 --> 01:00:44,959
Speaker 7: codes or the sporting associations. If you want to play

1181
01:00:45,000 --> 01:00:48,840
Speaker 7: in a league that does or doesn't include transgender athletes,

1182
01:00:48,920 --> 01:00:51,160
Speaker 7: that you know that that should be left for the

1183
01:00:52,160 --> 01:00:56,600
Speaker 7: particular sports for example, or organizations. The problem we have

1184
01:00:57,080 --> 01:01:00,960
Speaker 7: is that so many sports, both at elite and at

1185
01:01:00,960 --> 01:01:05,280
Speaker 7: an amateur level, are reliant on government funding and Sport

1186
01:01:05,360 --> 01:01:08,880
Speaker 7: New Zealand and the like, and so arguably that they

1187
01:01:09,040 --> 01:01:10,000
Speaker 7: have to take our position.

1188
01:01:10,160 --> 01:01:11,920
Speaker 4: But I mean maybe not.

1189
01:01:12,120 --> 01:01:13,720
Speaker 7: I mean, is it a role of government? But I

1190
01:01:13,720 --> 01:01:15,760
Speaker 7: think it is inherent And the reason it's hard and

1191
01:01:15,800 --> 01:01:17,920
Speaker 7: the reason why Simon and I are cautious because we

1192
01:01:17,920 --> 01:01:19,360
Speaker 7: don't want to have twilers to blow up or have

1193
01:01:19,440 --> 01:01:21,680
Speaker 7: death threats or things like that on this matter. I've

1194
01:01:21,680 --> 01:01:24,640
Speaker 7: got enough enemies fighting for lawer Texas the alone, this

1195
01:01:24,800 --> 01:01:28,280
Speaker 7: sort of stuff. But yeah, it's just I'm just not

1196
01:01:28,920 --> 01:01:30,760
Speaker 7: I'm just not convinced the government should be there at all.

1197
01:01:30,880 --> 01:01:33,160
Speaker 20: Well, I tell you what, Jordan, I agree with you.

1198
01:01:34,360 --> 01:01:45,920
Speaker 3: Can Well, yeah, I mean it's it's I mean the

1199
01:01:46,000 --> 01:01:49,160
Speaker 3: problem is too that I mean a lot of these

1200
01:01:49,360 --> 01:01:52,600
Speaker 3: a lot of these community sports organizations. I mean, who

1201
01:01:52,640 --> 01:01:55,120
Speaker 3: would want to be an administrator? The best of times

1202
01:01:55,200 --> 01:01:57,840
Speaker 3: These are thankless roles, right, trying to be an administrator

1203
01:01:57,880 --> 01:01:59,840
Speaker 3: for a minority sport in New Zealand and then trying

1204
01:01:59,840 --> 01:02:02,880
Speaker 3: to your own guidelines around this. It is such a

1205
01:02:02,960 --> 01:02:05,360
Speaker 3: tricky and contentious subject and I suppose that's why they

1206
01:02:05,440 --> 01:02:08,640
Speaker 3: look to healthy to Sporting z for guidance on these

1207
01:02:08,680 --> 01:02:13,360
Speaker 3: kinds of issues. Auckland and Otago universities have dropped down

1208
01:02:13,520 --> 01:02:16,000
Speaker 3: the world rankings, and you know how these university rankings

1209
01:02:16,040 --> 01:02:20,120
Speaker 3: are all important for our institutions Jordan. Should we be concerned?

1210
01:02:20,840 --> 01:02:21,480
Speaker 20: Yeah, we should be.

1211
01:02:21,560 --> 01:02:24,120
Speaker 7: Actually, I mean it's the it's probably the daily end

1212
01:02:24,160 --> 01:02:26,840
Speaker 7: of what has been a declining education system in the

1213
01:02:27,560 --> 01:02:30,960
Speaker 7: in the school sector. About this is show my age.

1214
01:02:31,000 --> 01:02:33,000
Speaker 7: But eight or nine years ago, I think on this

1215
01:02:33,240 --> 01:02:36,400
Speaker 7: very panel, there was a similar report out and I've

1216
01:02:36,440 --> 01:02:39,320
Speaker 7: looked up the proportion of GDP we spend on tertiary

1217
01:02:39,400 --> 01:02:41,920
Speaker 7: education and it's very high. And I pointed that out

1218
01:02:42,000 --> 01:02:43,920
Speaker 7: that you know, we're actually spending quite a lot. And

1219
01:02:44,400 --> 01:02:46,560
Speaker 7: the one of the chances that's got in touch with

1220
01:02:46,680 --> 01:02:49,320
Speaker 7: me and actually showed the floor in it. So this

1221
01:02:49,440 --> 01:02:52,120
Speaker 7: is my correction eight years later, is that when you,

1222
01:02:52,560 --> 01:02:54,520
Speaker 7: according to the OCD, we do spend a lot on

1223
01:02:54,640 --> 01:02:58,800
Speaker 7: tertiary education, but actually a much higher proportion of that

1224
01:02:59,400 --> 01:03:02,560
Speaker 7: goes on to student support as opposed to money to

1225
01:03:02,640 --> 01:03:04,800
Speaker 7: the institutions. So they were a bit of annoy that,

1226
01:03:04,880 --> 01:03:07,880
Speaker 7: you know that the Taxpayers Union was hoppity hopperty about well,

1227
01:03:07,920 --> 01:03:12,320
Speaker 7: actually they do pretty well financially. Actually it's not necessarily

1228
01:03:12,360 --> 01:03:14,440
Speaker 7: going to the universities or to that research. On the

1229
01:03:14,520 --> 01:03:18,480
Speaker 7: other hand, when we've looked at this before, the staff

1230
01:03:18,600 --> 01:03:22,200
Speaker 7: ratios in New Zealand are really out of whack when

1231
01:03:22,240 --> 01:03:26,360
Speaker 7: you compare the actual academic number versus the non academic staff.

1232
01:03:27,040 --> 01:03:29,400
Speaker 3: Yeah right, okay, hey, just before we go because we

1233
01:03:29,480 --> 01:03:31,760
Speaker 3: are running out of time. Simon that report I was

1234
01:03:31,800 --> 01:03:35,560
Speaker 3: referencing re air pollution caught your interest as well today.

1235
01:03:35,400 --> 01:03:37,440
Speaker 20: Oh it did? I yeah, I just can't just say

1236
01:03:37,520 --> 01:03:39,760
Speaker 20: Christian about the university speaking. So there's another way to

1237
01:03:39,760 --> 01:03:41,360
Speaker 20: look at the data, and that is that last time

1238
01:03:41,400 --> 01:03:43,520
Speaker 20: they did it, we were in the Auckland University was

1239
01:03:43,520 --> 01:03:45,320
Speaker 20: in the top seven point nine percent. It's now in

1240
01:03:45,360 --> 01:03:47,200
Speaker 20: the top seven point three, even though it's gone down

1241
01:03:47,240 --> 01:03:49,840
Speaker 20: in the rankings because the two hundred more universities in

1242
01:03:50,280 --> 01:03:52,800
Speaker 20: the survey than there used to be. However, having said

1243
01:03:52,840 --> 01:03:55,160
Speaker 20: that the problem is not as Jordan said that the

1244
01:03:55,560 --> 01:03:58,560
Speaker 20: problems at schools. The problem is the underfunding of research

1245
01:03:59,480 --> 01:04:02,600
Speaker 20: and bring them institutions, and that's a really big issue.

1246
01:04:03,080 --> 01:04:06,240
Speaker 20: Looking at the air pollution, Queen Street as the biggest

1247
01:04:06,360 --> 01:04:09,320
Speaker 20: mover on nitro sox side and that's because there are

1248
01:04:09,400 --> 01:04:11,920
Speaker 20: far fewer cars and Queen Street and more electric buses

1249
01:04:12,160 --> 01:04:14,440
Speaker 20: and it's now a much more pleasant place to be.

1250
01:04:14,800 --> 01:04:19,480
Speaker 20: But we still have an apporing problems all around this country.

1251
01:04:20,040 --> 01:04:22,280
Speaker 3: Jordan, wrap us up, sire.

1252
01:04:22,320 --> 01:04:23,880
Speaker 20: You're in office there, Paul.

1253
01:04:24,920 --> 01:04:26,880
Speaker 7: Queen Street. It's just terrible, but it's not for anything

1254
01:04:26,880 --> 01:04:28,600
Speaker 7: to do with the traffic going up and down.

1255
01:04:29,040 --> 01:04:30,840
Speaker 3: All right, thank you for your time, guys, we do

1256
01:04:30,960 --> 01:04:33,560
Speaker 3: appreciate it. Here I'm going to end with this lovely text. OMG,

1257
01:04:33,720 --> 01:04:36,520
Speaker 3: what a great couple. Simon Wilson and Jordan Williams. They

1258
01:04:36,520 --> 01:04:39,640
Speaker 3: should get their own show here here seven to six

1259
01:04:39,760 --> 01:04:40,360
Speaker 3: on New Stalks.

1260
01:04:40,360 --> 01:04:40,640
Speaker 17: He'd be.

1261
01:04:42,640 --> 01:04:45,240
Speaker 2: On your smart speaker, on the iHeart app and in

1262
01:04:45,360 --> 01:04:48,840
Speaker 2: your car on your drive home. Heather Duplicy allan drive

1263
01:04:49,360 --> 01:04:53,560
Speaker 2: with one New Zealand one giant Leap for Business News Talk.

1264
01:04:53,520 --> 01:04:57,000
Speaker 3: ZIBB New Stalks. He'd be thank you very much for

1265
01:04:57,080 --> 01:05:00,040
Speaker 3: your feedback, Jack, regarding the interview with the Sportsman, So

1266
01:05:00,120 --> 01:05:02,680
Speaker 3: you didn't ask the obvious other question, Will fewer women

1267
01:05:02,960 --> 01:05:05,920
Speaker 3: play sport if they're compelled to compete against transgender people?

1268
01:05:06,480 --> 01:05:08,880
Speaker 3: The question goes both ways. Women do have a right

1269
01:05:08,960 --> 01:05:11,160
Speaker 3: to be safe while playing sport at all levels. Yeah,

1270
01:05:11,200 --> 01:05:13,800
Speaker 3: I think there's a I wonder if there's a distinction

1271
01:05:14,200 --> 01:05:17,800
Speaker 3: between those two words. That the Minister has directed sports

1272
01:05:17,920 --> 01:05:21,320
Speaker 3: enz to give greater waiting to fairness and safety right,

1273
01:05:21,400 --> 01:05:24,360
Speaker 3: and I wonder if there is a distinction between those

1274
01:05:24,400 --> 01:05:28,240
Speaker 3: two issues at least in community sport, because some people

1275
01:05:28,280 --> 01:05:31,320
Speaker 3: will say, well, actually that the safety issue is absolutely paramount,

1276
01:05:31,320 --> 01:05:34,120
Speaker 3: and I think you'd be hard pressed to dispute that

1277
01:05:35,160 --> 01:05:37,960
Speaker 3: the fairness issue at community levels. Well, I can imagine

1278
01:05:37,960 --> 01:05:40,640
Speaker 3: that more people would take issue at that. So thank

1279
01:05:40,680 --> 01:05:42,360
Speaker 3: you for that point. Ninety two to ninety two if

1280
01:05:42,400 --> 01:05:44,200
Speaker 3: you want to send us a message, lind says Jack.

1281
01:05:44,240 --> 01:05:46,760
Speaker 3: Absolutely great panel, loved at this evening. Thank you very much. Lynn.

1282
01:05:47,080 --> 01:05:49,080
Speaker 3: After six o'clock this evening, we will take you to

1283
01:05:50,240 --> 01:05:54,640
Speaker 3: the chief executive of University's New Zealand get his take

1284
01:05:54,880 --> 01:05:59,320
Speaker 3: on the Otago and Auckland University slipping a little way

1285
01:05:59,400 --> 01:06:02,240
Speaker 3: down the rings as well as that the fallout from

1286
01:06:02,320 --> 01:06:07,400
Speaker 3: the OCR already calls are intensifying for the Reserve Bank

1287
01:06:07,520 --> 01:06:11,160
Speaker 3: to consider cutting to something more akin to the neutral rate.

1288
01:06:11,240 --> 01:06:13,840
Speaker 3: The neutral rate isn't set in stone when it comes

1289
01:06:13,880 --> 01:06:17,360
Speaker 3: to the Reserve Bank. Most economists reckon it's somewhere around three,

1290
01:06:17,480 --> 01:06:19,760
Speaker 3: maybe kind of three point twenty five, maybe as high

1291
01:06:19,760 --> 01:06:21,880
Speaker 3: as three point five percent. But if you want to

1292
01:06:21,920 --> 01:06:25,040
Speaker 3: have a rate that isn't contributing to inflation in any

1293
01:06:25,080 --> 01:06:28,640
Speaker 3: which way, keeping inflation nice in the middle of that

1294
01:06:28,760 --> 01:06:32,160
Speaker 3: one to three band, then is it time the Reserve

1295
01:06:32,200 --> 01:06:35,560
Speaker 3: Bank made a way way bigger cut ahead of Christmas?

1296
01:06:35,720 --> 01:06:38,120
Speaker 3: We will ask that after six This evening news is

1297
01:06:38,160 --> 01:06:40,280
Speaker 3: next though it's almost six. I'm Jack Tame. This is

1298
01:06:40,320 --> 01:06:41,280
Speaker 3: Newstalk ZB.

1299
01:06:44,600 --> 01:06:45,880
Speaker 1: Keeping track of where the money.

1300
01:06:46,080 --> 01:06:49,400
Speaker 2: As you are with the Business Hour with Jack Tame

1301
01:06:49,800 --> 01:07:09,760
Speaker 2: and my Hr on newstalksb'd.

1302
01:07:00,640 --> 01:07:03,240
Speaker 3: Be not a single New Zealand university has improved their

1303
01:07:03,320 --> 01:07:05,880
Speaker 3: placing in this year's World University rankings. We're going to

1304
01:07:05,880 --> 01:07:08,040
Speaker 3: take a close look at that before seven o'clock. It's

1305
01:07:08,040 --> 01:07:12,280
Speaker 3: one of those tricky things, isn't it, Because historically a

1306
01:07:12,400 --> 01:07:15,480
Speaker 3: large part of our economy has relied on international students

1307
01:07:15,560 --> 01:07:19,320
Speaker 3: trading on these kind of rankings. But we will ask

1308
01:07:20,160 --> 01:07:23,680
Speaker 3: the CEO of Universities New Zealand before seven o'clock if

1309
01:07:23,680 --> 01:07:25,600
Speaker 3: this is actually going to make a meaningful difference to

1310
01:07:25,800 --> 01:07:28,160
Speaker 3: the kind of interest that some of those foreign students

1311
01:07:28,240 --> 01:07:30,919
Speaker 3: have in New Zealand universities. Right now those eight past

1312
01:07:30,920 --> 01:07:33,240
Speaker 3: six on news talks, he'd be in. Today's OCR announcement

1313
01:07:33,280 --> 01:07:36,520
Speaker 3: has got us all thinking about what impact it's going

1314
01:07:36,560 --> 01:07:38,800
Speaker 3: to have on the housing market. The rbn Z cut

1315
01:07:38,880 --> 01:07:41,280
Speaker 3: for the second time fifty basis points this time round

1316
01:07:41,320 --> 01:07:44,240
Speaker 3: from five point twenty five to four point seventy five.

1317
01:07:45,040 --> 01:07:47,840
Speaker 3: So when can we start to see this flow on

1318
01:07:48,040 --> 01:07:51,080
Speaker 3: to home loans and the housing market at large. Core

1319
01:07:51,160 --> 01:07:54,000
Speaker 3: Logic's chief property economist, Calvin Davidson is with us this

1320
01:07:54,120 --> 01:07:57,120
Speaker 3: evening ten arquare good evening, good evening big when.

1321
01:07:57,680 --> 01:08:00,080
Speaker 18: Well it is, Yes, you're a mortgageh bial, it's in

1322
01:08:00,160 --> 01:08:03,640
Speaker 18: your big one. We're going to see mortgage rates fall further.

1323
01:08:03,680 --> 01:08:06,400
Speaker 18: I mean they've already been declined, but probably further falls

1324
01:08:06,440 --> 01:08:10,160
Speaker 18: from here. So I think a direct boast housing sentiments

1325
01:08:10,200 --> 01:08:12,760
Speaker 18: and probably a boast of house prices in terms of

1326
01:08:12,960 --> 01:08:15,000
Speaker 18: bringing the recent downturn to an end.

1327
01:08:15,200 --> 01:08:17,280
Speaker 3: Yeah, I'll ask about house prices in a second, because

1328
01:08:17,280 --> 01:08:19,439
Speaker 3: obviously that's one of the flow on effects from this.

1329
01:08:19,600 --> 01:08:22,400
Speaker 3: But how are you expecting the banks to react already?

1330
01:08:22,400 --> 01:08:24,120
Speaker 3: We've seen a fair bit of action today. Are they

1331
01:08:24,200 --> 01:08:26,000
Speaker 3: going to be trying to outdo each other in the

1332
01:08:26,080 --> 01:08:26,559
Speaker 3: coming weeks?

1333
01:08:27,640 --> 01:08:29,960
Speaker 18: Yeah. I think what we're really seeing in the housing

1334
01:08:30,040 --> 01:08:33,000
Speaker 18: market at the moment is it's fairly quiet. We're not

1335
01:08:33,040 --> 01:08:36,320
Speaker 18: seeing many sales, it's quite quiet in terms of activity.

1336
01:08:36,439 --> 01:08:39,639
Speaker 18: So banks are competing for that market share. It's about

1337
01:08:39,720 --> 01:08:43,000
Speaker 18: trying to win market share relatively quiet market. So yeah,

1338
01:08:43,040 --> 01:08:46,240
Speaker 18: I think we'll see some fairly good rates coming through

1339
01:08:46,360 --> 01:08:48,439
Speaker 18: as those banks trying to win those customers. So I

1340
01:08:48,520 --> 01:08:50,960
Speaker 18: think if you've got put a mortgage, there's a good

1341
01:08:51,040 --> 01:08:51,479
Speaker 18: news ahead.

1342
01:08:51,680 --> 01:08:54,800
Speaker 3: Yeah, Calvin, there's a lot of debate over where the

1343
01:08:54,880 --> 01:08:58,000
Speaker 3: neutral cash rates should be. But if next week's CPI

1344
01:08:58,160 --> 01:09:02,080
Speaker 3: data shows that in New Zealand inflation in New Zealand

1345
01:09:02,200 --> 01:09:04,479
Speaker 3: is within the target band and somewhere nearer to two

1346
01:09:04,520 --> 01:09:07,280
Speaker 3: percent than three percent, is there not an argument that

1347
01:09:07,400 --> 01:09:09,679
Speaker 3: perhaps the OCI should be cut even further.

1348
01:09:10,920 --> 01:09:13,639
Speaker 18: Yeah, Well, that's possibly a narrative that's going to start

1349
01:09:13,680 --> 01:09:16,040
Speaker 18: coming through because the neutural rate is demanded to be

1350
01:09:16,080 --> 01:09:19,240
Speaker 18: about three percent. It's definitely not a precise science, but

1351
01:09:19,760 --> 01:09:21,760
Speaker 18: if it is somewhere around there and where we're still

1352
01:09:21,800 --> 01:09:23,960
Speaker 18: currently at four point seventy five, then I think there

1353
01:09:24,040 --> 01:09:25,760
Speaker 18: is an argument to say you try and get there

1354
01:09:25,760 --> 01:09:29,040
Speaker 18: as quick as possible, especially if inflation is coming down

1355
01:09:29,160 --> 01:09:31,320
Speaker 18: quickly and perhaps raving the RESCU of EVE than going

1356
01:09:31,360 --> 01:09:34,439
Speaker 18: below target. So that could be a bit of commentary

1357
01:09:34,479 --> 01:09:37,800
Speaker 18: that starts coming out. But also I guess the Reserve

1358
01:09:37,880 --> 01:09:39,680
Speaker 18: Bank just want to observe the days. You've going to

1359
01:09:39,720 --> 01:09:41,680
Speaker 18: give these things time to work their way through, so

1360
01:09:42,439 --> 01:09:45,519
Speaker 18: I'd anticipate a steady path. But that argument might start.

1361
01:09:46,120 --> 01:09:48,320
Speaker 3: Just how much pent up demand is there in the

1362
01:09:48,320 --> 01:09:49,000
Speaker 3: property market.

1363
01:09:51,360 --> 01:09:53,559
Speaker 18: There's probably a little bit. I mean, certainly from existing

1364
01:09:53,600 --> 01:09:56,479
Speaker 18: and occupiers. We haven't seen a lot of people moving around.

1365
01:09:56,600 --> 01:09:58,960
Speaker 18: Likely there's been a lot of activity from first time buyers.

1366
01:10:00,080 --> 01:10:02,600
Speaker 18: Owner occupiers have been but quiet as a normal, and

1367
01:10:02,680 --> 01:10:05,160
Speaker 18: also investors have been a bit quieter than normal. So

1368
01:10:05,720 --> 01:10:08,559
Speaker 18: as interest rates force and conditions get a bit easier,

1369
01:10:09,080 --> 01:10:11,280
Speaker 18: we could start to see them coming back out of woodwork,

1370
01:10:11,320 --> 01:10:14,000
Speaker 18: and I think investors will certainly be an interesting story

1371
01:10:14,439 --> 01:10:17,439
Speaker 18: in twenty twenty five, there's mortgage rates come down Brits,

1372
01:10:17,479 --> 01:10:20,280
Speaker 18: those rental fields improvement, but top ups to keep these

1373
01:10:20,320 --> 01:10:24,120
Speaker 18: properties going shrink, and they could start to become a

1374
01:10:24,160 --> 01:10:25,000
Speaker 18: bit more interested again.

1375
01:10:25,160 --> 01:10:26,800
Speaker 3: Yeah, to talk to us about that a bit more.

1376
01:10:27,000 --> 01:10:30,040
Speaker 3: How much more activity do you think we're going to

1377
01:10:30,080 --> 01:10:32,360
Speaker 3: see from investors or where does the OCR need to

1378
01:10:32,400 --> 01:10:34,519
Speaker 3: be before investors start getting really interested.

1379
01:10:35,320 --> 01:10:40,040
Speaker 18: Well, the level will differ depending on each individual investor,

1380
01:10:40,080 --> 01:10:42,759
Speaker 18: how much equally they have that sort of thing. But certainly,

1381
01:10:42,760 --> 01:10:45,479
Speaker 18: if the OCR keeps falling, where we see it fall

1382
01:10:45,520 --> 01:10:48,320
Speaker 18: towards that three percent figure and preach the next year

1383
01:10:48,439 --> 01:10:51,040
Speaker 18: or so, you can easily see mortgage rates down towards

1384
01:10:51,080 --> 01:10:53,479
Speaker 18: the five five and a half percent range, which I

1385
01:10:53,520 --> 01:10:56,240
Speaker 18: think is probably where things would start to get a

1386
01:10:56,280 --> 01:10:58,120
Speaker 18: lot more interesting for investors.

1387
01:10:58,240 --> 01:10:58,400
Speaker 3: Now.

1388
01:10:58,880 --> 01:11:01,680
Speaker 18: On the other hand, also got lending rules in place there,

1389
01:11:01,760 --> 01:11:04,240
Speaker 18: and in particular the debt to income ratio caps and

1390
01:11:04,880 --> 01:11:08,360
Speaker 18: faster mortgage rates fall, the sooner those dties will kick in,

1391
01:11:08,479 --> 01:11:10,800
Speaker 18: which will tend to work in the other direction, and

1392
01:11:10,880 --> 01:11:13,880
Speaker 18: they are they range at the entire property market, but

1393
01:11:13,960 --> 01:11:16,479
Speaker 18: I think it probably will be investors who will feel

1394
01:11:16,840 --> 01:11:19,639
Speaker 18: DT eyes a bit more so, it's really interesting year

1395
01:11:19,680 --> 01:11:21,800
Speaker 18: for investors. Lower mortgage rates help, but at the same

1396
01:11:21,880 --> 01:11:24,200
Speaker 18: time DTIs might push in the other direction.

1397
01:11:24,520 --> 01:11:27,040
Speaker 3: Yeah right, Yeah, you kind of got two competing forces there,

1398
01:11:27,080 --> 01:11:29,320
Speaker 3: the accelerator and the brake peel being hit at once.

1399
01:11:29,439 --> 01:11:31,719
Speaker 3: So what are you expecting in terms of house prizes

1400
01:11:31,760 --> 01:11:32,679
Speaker 3: over the next week period.

1401
01:11:33,800 --> 01:11:35,760
Speaker 18: Well, I think what we've seen over the past five

1402
01:11:35,880 --> 01:11:38,280
Speaker 18: or six months is that prices have been falling. I

1403
01:11:38,360 --> 01:11:41,680
Speaker 18: suspect that could end pretty soon because we're seeing a

1404
01:11:42,200 --> 01:11:44,960
Speaker 18: sentiment boost already from lower mortgage rates, not to mention

1405
01:11:45,160 --> 01:11:48,439
Speaker 18: the direct impact on finances. So I think this little

1406
01:11:48,479 --> 01:11:51,639
Speaker 18: downturn will probably end pretty soon, but not necessarily sure

1407
01:11:51,680 --> 01:11:54,760
Speaker 18: that turns into a major up to either, because of

1408
01:11:54,880 --> 01:11:57,799
Speaker 18: course jobs are being lost so we can labor market. Certainly,

1409
01:11:58,280 --> 01:12:00,439
Speaker 18: there's a challenge for the house of market. There's still

1410
01:12:00,439 --> 01:12:02,840
Speaker 18: a lot of listings out there, so buyers do have

1411
01:12:03,000 --> 01:12:05,280
Speaker 18: the pricing power, and then of course the debt to

1412
01:12:05,360 --> 01:12:09,080
Speaker 18: incumber ratio restrictions kicking in as morgitrops fall, So I

1413
01:12:09,120 --> 01:12:11,760
Speaker 18: think presps it down to an end, but also not

1414
01:12:11,920 --> 01:12:14,960
Speaker 18: necessarily an upturn starting straight away either, So I fairly

1415
01:12:15,080 --> 01:12:17,040
Speaker 18: feel sort of quiet to our two months.

1416
01:12:17,320 --> 01:12:17,519
Speaker 20: Yeah.

1417
01:12:17,680 --> 01:12:20,439
Speaker 3: Right, when we look at the RB and Z commentary

1418
01:12:20,520 --> 01:12:22,760
Speaker 3: from today, I mean only so much you can read

1419
01:12:22,800 --> 01:12:26,120
Speaker 3: into for a November cup. But given November then goes

1420
01:12:26,200 --> 01:12:29,200
Speaker 3: into what is almost three months before the next decision,

1421
01:12:29,400 --> 01:12:31,200
Speaker 3: where do you think we are sitting in terms of

1422
01:12:32,040 --> 01:12:33,280
Speaker 3: the Reserve Bank's next move?

1423
01:12:34,479 --> 01:12:34,639
Speaker 20: Yeah?

1424
01:12:34,680 --> 01:12:38,120
Speaker 18: I think if the data involves as we think it, well,

1425
01:12:38,400 --> 01:12:40,879
Speaker 18: if we still see some weakness out there in the economy,

1426
01:12:41,280 --> 01:12:44,599
Speaker 18: we see inflation playing ball and behaving nicely and continuing

1427
01:12:44,640 --> 01:12:46,240
Speaker 18: to fall, then I think you have to be looking

1428
01:12:46,240 --> 01:12:50,439
Speaker 18: at another point five percent cup in November gives that

1429
01:12:50,800 --> 01:12:53,320
Speaker 18: sort of relief over that Christmas period and they come

1430
01:12:53,400 --> 01:12:55,400
Speaker 18: back and assess in the new year. So I mean

1431
01:12:55,439 --> 01:12:58,080
Speaker 18: you're probably looking at another point folk scent cup provided

1432
01:12:58,240 --> 01:13:00,240
Speaker 18: the data goes to plant right.

1433
01:13:00,240 --> 01:13:03,439
Speaker 3: Calvin, appreciate it. Thank you. Calvin Davidson is core Logic's

1434
01:13:03,520 --> 01:13:06,000
Speaker 3: chief property economist. Thirteen past six.

1435
01:13:08,080 --> 01:13:11,599
Speaker 2: Crunching the numbers and getting the results. It's Heather dupic

1436
01:13:11,720 --> 01:13:15,080
Speaker 2: Ellen with the Business Hours thanks to my HR, the

1437
01:13:15,320 --> 01:13:17,879
Speaker 2: HR platform for SME on News Talks.

1438
01:13:17,760 --> 01:13:21,040
Speaker 3: EDB sixteen US six. You're with Jacktaime on News Talks B.

1439
01:13:21,120 --> 01:13:22,439
Speaker 3: In a few minutes. We're going to get the market

1440
01:13:22,520 --> 01:13:25,320
Speaker 3: reaction to the OCR decision today. But first, New Zealand

1441
01:13:25,360 --> 01:13:29,000
Speaker 3: Herald Wellington Business editor Jane tib Trainey is with us

1442
01:13:29,160 --> 01:13:34,320
Speaker 3: Yielder king on a second Jane Yiolder, Hello, Jack, how

1443
01:13:34,320 --> 01:13:34,679
Speaker 3: are you doing?

1444
01:13:34,800 --> 01:13:34,960
Speaker 19: Yeah?

1445
01:13:35,080 --> 01:13:36,559
Speaker 3: Very good. Thanks, now that I've managed to tune your

1446
01:13:36,600 --> 01:13:39,120
Speaker 3: microphone up. So banks were pretty quick off the mark

1447
01:13:39,280 --> 01:13:43,040
Speaker 3: in announcing their cuts to floating mortgage rates yesterday afternoon.

1448
01:13:43,120 --> 01:13:45,320
Speaker 3: What about since the announcement how banks reacted.

1449
01:13:46,640 --> 01:13:49,840
Speaker 13: Yeah, that's right. So actually today banks were quick off

1450
01:13:49,880 --> 01:13:54,160
Speaker 13: the mark to announce those floating mortgage rates cuts. Most

1451
01:13:54,200 --> 01:13:56,160
Speaker 13: of the banks came out pretty much as soon as

1452
01:13:56,200 --> 01:13:59,559
Speaker 13: the Reserve Bank announced was cutting the OCR by fifty

1453
01:13:59,600 --> 01:14:03,080
Speaker 13: basis point, saying they'd cut their mortgage rates their floating

1454
01:14:03,160 --> 01:14:06,559
Speaker 13: rates by the same amounts. In fact, I actually received

1455
01:14:06,600 --> 01:14:10,800
Speaker 13: a press release from ASB before I received one from

1456
01:14:10,840 --> 01:14:14,080
Speaker 13: the Reserve Bank, so they'd pre prepared these statements. It's

1457
01:14:14,120 --> 01:14:18,880
Speaker 13: made headlines today, but I'm really stoked for people, you know,

1458
01:14:19,160 --> 01:14:22,519
Speaker 13: with mortgages, and also for the economy more generally. It's

1459
01:14:22,600 --> 01:14:25,000
Speaker 13: very sluggish. But a part of me is a little

1460
01:14:25,000 --> 01:14:28,759
Speaker 13: bit cynical, Jack, And the reason is I am wondering

1461
01:14:28,800 --> 01:14:35,799
Speaker 13: where the banks will cut their mortgage rates as quickly

1462
01:14:35,920 --> 01:14:39,400
Speaker 13: as they cut their savings rates. So I'm wondering whether

1463
01:14:39,520 --> 01:14:42,639
Speaker 13: they will or sorry, whether they'll cut their savings rates

1464
01:14:42,800 --> 01:14:46,920
Speaker 13: more quickly then they'll cut their mortgage rates. So yeah,

1465
01:14:46,960 --> 01:14:48,720
Speaker 13: so all the focuses on mortgage rates, but for the

1466
01:14:48,760 --> 01:14:51,360
Speaker 13: peer old savers out there, you do have to wonder

1467
01:14:51,520 --> 01:14:56,160
Speaker 13: whether they will cut those rates quite quickly and basically

1468
01:14:56,400 --> 01:14:59,839
Speaker 13: use this period of changing interest rates to profity.

1469
01:15:00,479 --> 01:15:02,760
Speaker 3: Yeah right, and they probably do this on the way

1470
01:15:02,840 --> 01:15:05,080
Speaker 3: up as well, right, So I mean there's always a

1471
01:15:05,160 --> 01:15:08,080
Speaker 3: delay in saying, well, why isn't my turn deposited anything

1472
01:15:08,200 --> 01:15:11,040
Speaker 3: like the mortgage rate that I would be paying? And

1473
01:15:11,439 --> 01:15:13,040
Speaker 3: now that we're on the way down and that the

1474
01:15:13,120 --> 01:15:16,360
Speaker 3: Reserve Bank is going through the cutting cycle, actually you're

1475
01:15:16,680 --> 01:15:18,240
Speaker 3: suspicious that we're going to see the same thing.

1476
01:15:18,960 --> 01:15:20,920
Speaker 13: Yeah, well that is exactly the thing. And this is

1477
01:15:20,960 --> 01:15:24,920
Speaker 13: actually what happened, as you say, when interest rates were

1478
01:15:25,320 --> 01:15:29,080
Speaker 13: increased really quickly, we saw bank's profits peak, and you

1479
01:15:29,120 --> 01:15:31,640
Speaker 13: know that created a lot of riff rap and might

1480
01:15:31,680 --> 01:15:35,479
Speaker 13: have contributed towards the market study into banking competition and

1481
01:15:35,560 --> 01:15:40,759
Speaker 13: also this Parliament Select Committee inquiry into competition in the sector.

1482
01:15:41,120 --> 01:15:44,520
Speaker 13: The profitability actually hit sort of, you know, a seventeen

1483
01:15:44,640 --> 01:15:47,320
Speaker 13: year high last year, the new interest margin on the

1484
01:15:47,400 --> 01:15:49,880
Speaker 13: back of that phenomena. Now, the reason I'm a little

1485
01:15:49,920 --> 01:15:52,920
Speaker 13: bit wary this time around as we see interest rate

1486
01:15:53,000 --> 01:15:56,559
Speaker 13: cuts is because we're seeing signs of this happening based

1487
01:15:56,720 --> 01:16:01,160
Speaker 13: on August start from the Reserve Bank. So between July

1488
01:16:01,439 --> 01:16:05,120
Speaker 13: and August, the amount of interest all together that banks

1489
01:16:05,240 --> 01:16:09,479
Speaker 13: received from people with mortgages that increased, but the amount

1490
01:16:09,520 --> 01:16:14,560
Speaker 13: of interest banks paid savers that actually decreased for the

1491
01:16:15,040 --> 01:16:18,360
Speaker 13: first time in this cycle. So in August we saw

1492
01:16:18,479 --> 01:16:22,800
Speaker 13: signs of this disconnect where you know, they are still

1493
01:16:22,880 --> 01:16:26,200
Speaker 13: receiving a lot of interest, but they are not paying

1494
01:16:26,520 --> 01:16:29,240
Speaker 13: as much interest. So it's early days and I sort

1495
01:16:29,240 --> 01:16:32,280
Speaker 13: of hate to be the negative person on what's quite

1496
01:16:32,320 --> 01:16:34,600
Speaker 13: a positive day, but I think this is something that

1497
01:16:35,000 --> 01:16:36,320
Speaker 13: is worth keeping an eye on.

1498
01:16:36,640 --> 01:16:39,439
Speaker 3: Yeah, yeah, that's a really really good point. What do

1499
01:16:39,479 --> 01:16:41,800
Speaker 3: you reckon the chances are that they are going to

1500
01:16:41,880 --> 01:16:44,600
Speaker 3: get something, you know, get cut down to something like

1501
01:16:44,720 --> 01:16:47,120
Speaker 3: the neutral rate anytime soon. What do you make of

1502
01:16:47,200 --> 01:16:50,080
Speaker 3: that argument that if actually inflation is somewhere near two

1503
01:16:50,160 --> 01:16:53,000
Speaker 3: percent when the latest CPI numbers come out next week.

1504
01:16:53,479 --> 01:16:55,840
Speaker 3: Why shouldn't the Reserve Bank be cutting to something like

1505
01:16:55,880 --> 01:16:56,479
Speaker 3: the neutral rate.

1506
01:16:57,600 --> 01:17:00,120
Speaker 13: Well, you know, that's a fair question. And today this

1507
01:17:00,240 --> 01:17:04,360
Speaker 13: statement the Reserve Bank didn't really provide any forward guidance.

1508
01:17:04,479 --> 01:17:07,680
Speaker 13: It tried to keep its options open by saying, you know,

1509
01:17:07,760 --> 01:17:10,599
Speaker 13: their risks are this way and their risks that way.

1510
01:17:11,400 --> 01:17:13,920
Speaker 13: You know, And I think some commentators have come out

1511
01:17:14,000 --> 01:17:16,840
Speaker 13: and said that they reckon that in November, the IRB

1512
01:17:16,920 --> 01:17:20,160
Speaker 13: and Z will will really you know, if inflation is

1513
01:17:20,200 --> 01:17:21,760
Speaker 13: in fact where it needs to be, they will there

1514
01:17:21,760 --> 01:17:23,559
Speaker 13: will be a case for it to cut by seventy

1515
01:17:23,600 --> 01:17:27,360
Speaker 13: five basis points, particularly ahead of the long Christmas break.

1516
01:17:27,680 --> 01:17:30,080
Speaker 13: So I think that is, you know, that's what the

1517
01:17:30,200 --> 01:17:33,320
Speaker 13: experts are saying. So that sounds plausible. Other than that,

1518
01:17:33,479 --> 01:17:35,439
Speaker 13: you know, it's hard to know. There are still number

1519
01:17:35,479 --> 01:17:40,120
Speaker 13: of uncertainties and there are still economists worried that there

1520
01:17:40,200 --> 01:17:42,200
Speaker 13: might be some pent up demand, you know that if

1521
01:17:42,280 --> 01:17:46,360
Speaker 13: they cut those rates too much too soon, people will

1522
01:17:46,400 --> 01:17:49,679
Speaker 13: get too excited and head out, probably into the property market,

1523
01:17:49,720 --> 01:17:53,400
Speaker 13: and you know, cause a bit of havoc there. So

1524
01:17:53,880 --> 01:17:56,240
Speaker 13: I mean it's all still still yet to be seen.

1525
01:17:56,280 --> 01:17:58,960
Speaker 3: Really, Yeah, right, that makes sense. Thanks, And I appreciate

1526
01:17:59,000 --> 01:18:01,559
Speaker 3: it that as New Zealand here World Wellington Business Editor

1527
01:18:02,040 --> 01:18:04,840
Speaker 3: Jane tib Traineye twenty one past six on Newstalks, he'd be.

1528
01:18:05,640 --> 01:18:08,439
Speaker 2: If it's to do with money, it matters to you

1529
01:18:09,040 --> 01:18:12,800
Speaker 2: The Business Hour with Jack Tam and my HR, the

1530
01:18:13,040 --> 01:18:16,559
Speaker 2: HR solution for busy smys fine news talks, it'd.

1531
01:18:16,439 --> 01:18:18,800
Speaker 3: Be we need three pass six on news talks. He'd

1532
01:18:18,880 --> 01:18:21,400
Speaker 3: be the market at price in an eighty percent likelihood

1533
01:18:21,400 --> 01:18:23,639
Speaker 3: of a fifty basis point cut to the OCI today.

1534
01:18:24,040 --> 01:18:26,960
Speaker 3: Caitlin Parker from ILSE from Milton and Esset Management as

1535
01:18:27,000 --> 01:18:30,880
Speaker 3: with us this evening, Koda, Hi, Harri you yeah, very well. Thanks.

1536
01:18:30,880 --> 01:18:32,960
Speaker 3: How did the market react to the decision?

1537
01:18:34,120 --> 01:18:36,960
Speaker 9: Yeah, look like you said once, it wasn't a short thing.

1538
01:18:37,120 --> 01:18:39,759
Speaker 9: It wasn't a major surprise to the market. So initially

1539
01:18:39,800 --> 01:18:42,400
Speaker 9: we saw interest rates move a bit lower on the

1540
01:18:42,439 --> 01:18:44,840
Speaker 9: back of it. The two year hotel interest rate was

1541
01:18:44,920 --> 01:18:48,360
Speaker 9: down abouto point one percent. Currency was also a bit weaker,

1542
01:18:48,439 --> 01:18:51,200
Speaker 9: but it wasn't a significant move given largely expected and

1543
01:18:51,280 --> 01:18:53,360
Speaker 9: it was really in New Zealand's shares where we saw

1544
01:18:53,400 --> 01:18:56,000
Speaker 9: the biggest reaction and in the day you know of

1545
01:18:56,120 --> 01:18:58,800
Speaker 9: for about one point seven five percent, and that's because

1546
01:18:58,800 --> 01:19:02,000
Speaker 9: they're so yield, interest rates sense stuff, And it really

1547
01:19:02,040 --> 01:19:04,360
Speaker 9: feels like the share market was actually waiting for some

1548
01:19:04,560 --> 01:19:07,280
Speaker 9: proof of this point five percent cut, unlike the currency

1549
01:19:07,400 --> 01:19:10,120
Speaker 9: and interest rate markets, and we really saw the market

1550
01:19:10,240 --> 01:19:12,000
Speaker 9: rally on the back of it. So, you know, companies,

1551
01:19:12,040 --> 01:19:15,280
Speaker 9: property companies like Precinct and keep the property group up

1552
01:19:15,360 --> 01:19:18,920
Speaker 9: to three percent, retirement villages like Oceania up two and

1553
01:19:18,960 --> 01:19:21,479
Speaker 9: a half percent. But ultimately, look, it was a one

1554
01:19:21,520 --> 01:19:23,760
Speaker 9: page statement and the orbans that they really played it

1555
01:19:23,840 --> 01:19:24,479
Speaker 9: with straight back.

1556
01:19:24,840 --> 01:19:28,400
Speaker 3: Yeah, you know, obviously the market was expecting things today.

1557
01:19:28,439 --> 01:19:31,320
Speaker 3: But how much do you think that market pricing played

1558
01:19:31,400 --> 01:19:34,400
Speaker 3: into the decision? Is there any way to note?

1559
01:19:34,479 --> 01:19:37,680
Speaker 9: Its actually quite interesting. So Urbien Dead did mention in

1560
01:19:37,800 --> 01:19:40,840
Speaker 9: that small statement that they did discuss both the point

1561
01:19:40,880 --> 01:19:43,200
Speaker 9: twenty five percent cut and a point five percent cut,

1562
01:19:43,280 --> 01:19:45,840
Speaker 9: and obviously they landed up the latter, and because that

1563
01:19:45,920 --> 01:19:49,479
Speaker 9: was most consistent with maintaining low inflation while also seeking

1564
01:19:49,520 --> 01:19:54,240
Speaker 9: to avoid unnecessary instability. So by that it's essentially a

1565
01:19:54,320 --> 01:19:56,920
Speaker 9: small knowledge that the market was expecting that point five

1566
01:19:56,960 --> 01:19:59,920
Speaker 9: percent cut though in order for them to avoid you know,

1567
01:20:00,200 --> 01:20:03,680
Speaker 9: interest rates moving like largely lower on the back of

1568
01:20:03,760 --> 01:20:06,759
Speaker 9: them delivering a lower rate cut, that it was somewhat

1569
01:20:06,840 --> 01:20:08,280
Speaker 9: taken into their consideration.

1570
01:20:08,960 --> 01:20:12,639
Speaker 3: Yeah, it's interesting because it's it's very much an inexact

1571
01:20:12,760 --> 01:20:15,080
Speaker 3: science trying to get hit around how the Man Free

1572
01:20:15,080 --> 01:20:18,880
Speaker 3: Policy Committee makes these calls. But interesting to see that line,

1573
01:20:18,920 --> 01:20:20,640
Speaker 3: as you say in the commentary today, So is the

1574
01:20:20,680 --> 01:20:23,719
Speaker 3: market still expecting another fifty basis point cut in November

1575
01:20:23,840 --> 01:20:26,120
Speaker 3: or is twenty five more likely? Could we even see

1576
01:20:26,120 --> 01:20:28,760
Speaker 3: a seventy five Yeah, look as it.

1577
01:20:28,800 --> 01:20:31,240
Speaker 9: Stands, it is, and there was no four guidance in

1578
01:20:31,280 --> 01:20:33,360
Speaker 9: that statement today. But I suppose on the flip side,

1579
01:20:33,400 --> 01:20:36,479
Speaker 9: there was no pushback to the market currently expecting another

1580
01:20:36,560 --> 01:20:39,160
Speaker 9: point five percent cut in November. And the next cast

1581
01:20:39,320 --> 01:20:41,840
Speaker 9: is is really an inflation report that we'll get next week.

1582
01:20:42,000 --> 01:20:44,720
Speaker 9: So I reckon if that even comes in a smidge

1583
01:20:45,040 --> 01:20:49,080
Speaker 9: stronger than expectating expected, you could actually see the market

1584
01:20:49,560 --> 01:20:52,120
Speaker 9: starting to price in a potential of a point seventy

1585
01:20:52,160 --> 01:20:54,360
Speaker 9: five percent cut, right, And the last time we saw

1586
01:20:54,439 --> 01:20:57,280
Speaker 9: it cut bigger than point five percent was March twenty twenty.

1587
01:20:57,360 --> 01:20:59,920
Speaker 9: But it really comes down to the orbens. I believe

1588
01:21:00,040 --> 01:21:02,920
Speaker 9: that they have inflation under control, so any worry of

1589
01:21:02,960 --> 01:21:05,400
Speaker 9: an inflationary threast coming back, it could actually move the

1590
01:21:05,439 --> 01:21:08,000
Speaker 9: door open for a larger cut. And November is the

1591
01:21:08,080 --> 01:21:10,519
Speaker 9: last meeting, right, so they're not going to meet again

1592
01:21:10,600 --> 01:21:13,679
Speaker 9: after November until mid February, so that's a long time.

1593
01:21:14,200 --> 01:21:16,880
Speaker 9: So you really could justify it if the data proves

1594
01:21:16,920 --> 01:21:19,479
Speaker 9: that a larger cut is needed, because even where we

1595
01:21:19,560 --> 01:21:22,519
Speaker 9: are in there, we're steal in that restrictive territory. So

1596
01:21:22,680 --> 01:21:24,280
Speaker 9: to get back to neutral, there's still a lot of

1597
01:21:24,360 --> 01:21:25,920
Speaker 9: scope for interest right cuts to come.

1598
01:21:26,080 --> 01:21:28,280
Speaker 3: So if we're wanting a seventy five basis point cut,

1599
01:21:28,360 --> 01:21:30,040
Speaker 3: what number do we need to see next week and

1600
01:21:30,080 --> 01:21:31,040
Speaker 3: the CPI data.

1601
01:21:30,920 --> 01:21:34,679
Speaker 9: Is released, Oh look, larger and unexpected. And it also

1602
01:21:34,720 --> 01:21:36,720
Speaker 9: will depend on the makeup as well. How much of

1603
01:21:36,760 --> 01:21:39,320
Speaker 9: it is generated domestically will really come into play.

1604
01:21:39,600 --> 01:21:43,160
Speaker 3: Yeah, hey, thanks so much. Yeah, thanks, Kaitlyn, appreciate it.

1605
01:21:43,240 --> 01:21:48,479
Speaker 3: That is Kaitlyn Parker from Milford Asset Management. After six thirty,

1606
01:21:48,479 --> 01:21:51,240
Speaker 3: we'll take a closer look at these university rankings and

1607
01:21:51,280 --> 01:21:53,559
Speaker 3: how the New Zealand unis have been affected. It's almost

1608
01:21:53,560 --> 01:21:55,920
Speaker 3: sex thirty though you reject time. This is the news dogs.

1609
01:21:55,920 --> 01:21:56,240
Speaker 1: He'd be.

1610
01:22:02,080 --> 01:22:05,719
Speaker 2: Crunching the numbers and getting the results is Jack Team

1611
01:22:06,040 --> 01:22:09,599
Speaker 2: with the Business Hour thanks to my HR the HR

1612
01:22:09,720 --> 01:22:16,040
Speaker 2: solution for busy smys on News Talks. Take a.

1613
01:22:35,320 --> 01:22:38,240
Speaker 3: News Talks V. You are Jack Tame. So good news

1614
01:22:38,280 --> 01:22:40,360
Speaker 3: at Northland today and I think, honestly we have to

1615
01:22:40,400 --> 01:22:42,040
Speaker 3: do a bit of a hat tip to Northland MP

1616
01:22:42,160 --> 01:22:47,120
Speaker 3: Grant mcallum, Transpower and its contractor om Exom are going

1617
01:22:47,160 --> 01:22:51,519
Speaker 3: to make a one million dollar payment to projects that

1618
01:22:51,600 --> 01:22:54,040
Speaker 3: are going to benefit Northland after the collapse of that

1619
01:22:54,200 --> 01:22:57,559
Speaker 3: power pylon. Now, look the one million dollar goodwill payment

1620
01:22:57,600 --> 01:22:59,040
Speaker 3: and it has been called a good will payment at

1621
01:22:59,080 --> 01:23:01,880
Speaker 3: the stage, is nothing thing compared to the estimates for

1622
01:23:01,920 --> 01:23:06,280
Speaker 3: the financial loss caused by that power pylon not having

1623
01:23:06,360 --> 01:23:08,360
Speaker 3: its bolts on or not having the nuts on the

1624
01:23:08,439 --> 01:23:10,920
Speaker 3: bolts at the right time. So the estimates I think

1625
01:23:11,000 --> 01:23:13,200
Speaker 3: range from about thirty seven and a half million to

1626
01:23:13,439 --> 01:23:16,639
Speaker 3: eighty million dollars. Power was cut to eighty eight thousand

1627
01:23:17,160 --> 01:23:20,800
Speaker 3: Northland homes. But under the law as it stands, Transpower

1628
01:23:21,000 --> 01:23:24,160
Speaker 3: and its contractor actually had no legal requirement to pay

1629
01:23:24,200 --> 01:23:27,360
Speaker 3: any kind of restitution. Anyway, Grant McCallum and a few

1630
01:23:27,400 --> 01:23:29,920
Speaker 3: others have been banging the drum on this and saying

1631
01:23:29,960 --> 01:23:33,920
Speaker 3: actually Transpower and its contractor have a responsibility to the

1632
01:23:33,960 --> 01:23:37,000
Speaker 3: people of Northland to try and do right by those people.

1633
01:23:37,080 --> 01:23:38,920
Speaker 3: So that now it's a one million dollar payment today

1634
01:23:38,920 --> 01:23:40,720
Speaker 3: it's a good will payment. Apparently it's just going to

1635
01:23:40,720 --> 01:23:42,840
Speaker 3: go into projects they're going to be assisting with regional

1636
01:23:42,880 --> 01:23:46,320
Speaker 3: development in Northland and it's going to go to the

1637
01:23:46,439 --> 01:23:49,080
Speaker 3: Regional Development Agency and this is what they say is

1638
01:23:49,080 --> 01:23:51,960
Speaker 3: going to do. It's going to help with resilience initiatives

1639
01:23:51,960 --> 01:23:54,439
Speaker 3: and projects that will deliver long term economic benefits for

1640
01:23:54,479 --> 01:23:56,880
Speaker 3: the people and businesses of Northland. So look, it is

1641
01:23:56,960 --> 01:23:59,120
Speaker 3: a result. Is it a perfect result, Absolutely not, but

1642
01:23:59,240 --> 01:24:02,360
Speaker 3: it's better than nothing. Million bucks heading to Northland twenty

1643
01:24:02,360 --> 01:24:05,400
Speaker 3: four to seven on News Talk zed be Team and

1644
01:24:05,479 --> 01:24:08,200
Speaker 3: not a single New Zealand university improved their placing in

1645
01:24:08,240 --> 01:24:11,960
Speaker 3: this year's World University Rankings. The country's top institution, Auckland

1646
01:24:12,040 --> 01:24:15,160
Speaker 3: University has dropped two places to one hundred and fifty,

1647
01:24:15,200 --> 01:24:19,320
Speaker 3: second place outside of the top two hundred where universities

1648
01:24:19,360 --> 01:24:22,559
Speaker 3: are measured and where universities are measured in bands Otago

1649
01:24:22,720 --> 01:24:25,880
Speaker 3: University has reached its lowest ranking ever, now sits in

1650
01:24:25,960 --> 01:24:28,920
Speaker 3: the three hundred and fifty to four hundredth band. Lincoln

1651
01:24:29,040 --> 01:24:31,640
Speaker 3: University has dropped to sit in the five hundred to

1652
01:24:31,800 --> 01:24:35,360
Speaker 3: six hundred band. Chris Wheelan is University's end Z chief

1653
01:24:35,439 --> 01:24:36,880
Speaker 3: executive and is with us this evening.

1654
01:24:36,960 --> 01:24:38,479
Speaker 1: Good evening, good evening.

1655
01:24:38,640 --> 01:24:39,880
Speaker 3: What do you make of these numbers?

1656
01:24:41,200 --> 01:24:44,080
Speaker 16: Look, it's it's a concern, but it's not a big

1657
01:24:44,160 --> 01:24:48,040
Speaker 16: problem yet. The number the movements are quite small, but

1658
01:24:48,200 --> 01:24:52,559
Speaker 16: they are part of a slow and continuous slight drop.

1659
01:24:53,600 --> 01:24:55,200
Speaker 3: Yeah, so what do you put that down to?

1660
01:24:56,680 --> 01:25:01,040
Speaker 16: Look, Ultimately, it comes down to simple funding. University systems

1661
01:25:01,160 --> 01:25:03,280
Speaker 16: been under quite a bit of stress financially for the

1662
01:25:03,360 --> 01:25:05,640
Speaker 16: last few years. I mean, we're managing our way through it,

1663
01:25:06,240 --> 01:25:11,439
Speaker 16: but simple factors. We've had inflation running at about nineteen

1664
01:25:11,520 --> 01:25:15,080
Speaker 16: percent twenty nineteen, but government funding has only gone up

1665
01:25:15,080 --> 01:25:18,320
Speaker 16: by about nine percent over that period. We're just struggling

1666
01:25:18,439 --> 01:25:21,920
Speaker 16: to really just keep up with other countries overseas around

1667
01:25:22,000 --> 01:25:24,639
Speaker 16: quality of teaching and research, the stuff that underpins the rankings.

1668
01:25:24,720 --> 01:25:27,479
Speaker 3: But have those other countries overseas not also had you know,

1669
01:25:27,640 --> 01:25:29,759
Speaker 3: cut relative to inflation to their funding.

1670
01:25:30,840 --> 01:25:35,560
Speaker 16: Absolutely, but you're talking about starting for a very different baseline.

1671
01:25:35,880 --> 01:25:39,240
Speaker 16: So in the US, for example, the average funding for

1672
01:25:39,360 --> 01:25:42,120
Speaker 16: students about double that in New Zealand. It's about fifty

1673
01:25:42,160 --> 01:25:44,519
Speaker 16: seven to fifty eight percent more in the UK, about

1674
01:25:44,560 --> 01:25:48,479
Speaker 16: twenty seven twenty eight percent more in Australia. So they've

1675
01:25:48,520 --> 01:25:51,040
Speaker 16: got further to go before they start seeing I think

1676
01:25:51,080 --> 01:25:53,000
Speaker 16: the kind of cuts that we are having to manage

1677
01:25:53,000 --> 01:25:53,400
Speaker 16: at the moment.

1678
01:25:53,640 --> 01:25:56,840
Speaker 3: So people who aren't necessarily familiar with how the system works,

1679
01:25:56,880 --> 01:25:58,720
Speaker 3: how are these rankings actually.

1680
01:25:58,479 --> 01:26:01,800
Speaker 16: Meeted Well, that's a problem in its own right. So

1681
01:26:02,479 --> 01:26:05,400
Speaker 16: they were set up. There are three major ranking systems.

1682
01:26:05,560 --> 01:26:08,519
Speaker 16: They all came into existence in the late two thousands.

1683
01:26:09,920 --> 01:26:13,639
Speaker 16: They were they very much led to successful consulting businesses

1684
01:26:13,720 --> 01:26:17,559
Speaker 16: for the three organizations that do it. The two big

1685
01:26:17,640 --> 01:26:20,120
Speaker 16: ones as far as we're concerned are Times Higher Education

1686
01:26:20,800 --> 01:26:24,920
Speaker 16: and Quacha Shelley Simon's or QS. They tend to measure

1687
01:26:25,160 --> 01:26:28,599
Speaker 16: what's easy to measure, not what's really important to our students.

1688
01:26:28,840 --> 01:26:32,439
Speaker 16: So they tend to measure things like research cycation rates,

1689
01:26:33,400 --> 01:26:39,760
Speaker 16: academic reputation, things like staff student ratios. They don't really

1690
01:26:39,840 --> 01:26:43,880
Speaker 16: measure things like quality of teaching or even things like,

1691
01:26:43,960 --> 01:26:46,679
Speaker 16: you know, just how good universities are at getting jobs.

1692
01:26:47,200 --> 01:26:50,120
Speaker 16: So with that in mind, a lot of students, of

1693
01:26:50,160 --> 01:26:52,760
Speaker 16: course rely on them, but they don't necessarily they're not

1694
01:26:52,800 --> 01:26:54,880
Speaker 16: necessarily reporting things that students think they are.

1695
01:26:55,120 --> 01:26:57,439
Speaker 3: Yeah, right, but they're being said. I would have thought

1696
01:26:57,520 --> 01:27:00,920
Speaker 3: like the quality of academia being you know, coming out

1697
01:27:00,920 --> 01:27:03,320
Speaker 3: of an institution would be really important. I mean that

1698
01:27:03,400 --> 01:27:06,240
Speaker 3: has all sorts of implications for our border economy as well.

1699
01:27:07,040 --> 01:27:11,080
Speaker 16: Look, absolutely, and we do know that a lot of things,

1700
01:27:11,520 --> 01:27:14,679
Speaker 16: all things being equaled, that academics who are thinking about

1701
01:27:14,720 --> 01:27:18,000
Speaker 16: whether they should apply for a job overseas, actually they

1702
01:27:18,040 --> 01:27:20,760
Speaker 16: will look at rankings because it does actually measure things

1703
01:27:20,800 --> 01:27:25,000
Speaker 16: that they care about, so research reputation, research impact, which

1704
01:27:25,080 --> 01:27:27,200
Speaker 16: is usually a good indication of you know, are they

1705
01:27:27,320 --> 01:27:30,040
Speaker 16: likely to get support for their research activities while they're here.

1706
01:27:30,439 --> 01:27:33,040
Speaker 3: To what extent do international students look at these rankings?

1707
01:27:34,360 --> 01:27:38,160
Speaker 16: A surprising amount. So we know from surveys that about

1708
01:27:38,240 --> 01:27:41,960
Speaker 16: eighty three percent of international students at least consider the rankings,

1709
01:27:42,479 --> 01:27:45,000
Speaker 16: and about seventeen or eighteen percent. It's actually a key

1710
01:27:45,120 --> 01:27:47,920
Speaker 16: factor in where they decide to go. So there may

1711
01:27:47,960 --> 01:27:50,160
Speaker 16: be a range of other factors, but ultimately they may

1712
01:27:50,240 --> 01:27:53,519
Speaker 16: go this university's ranked higher than that university, where therefore

1713
01:27:53,560 --> 01:27:54,439
Speaker 16: going to that university.

1714
01:27:54,920 --> 01:27:58,880
Speaker 3: So what will today's numbers mean for international students coming

1715
01:27:58,880 --> 01:27:59,679
Speaker 3: to New Zealand.

1716
01:28:00,600 --> 01:28:02,960
Speaker 16: Well, again, it'll be part of a long term sort

1717
01:28:03,000 --> 01:28:05,000
Speaker 16: of trend. I mean, you know, we haven't seen any

1718
01:28:05,120 --> 01:28:08,960
Speaker 16: major movements today. The movements are relatively minor. All of

1719
01:28:09,000 --> 01:28:11,920
Speaker 16: our universities are still in the top two percent of

1720
01:28:13,439 --> 01:28:17,519
Speaker 16: degree granting institutions internationally, so we don't have an overall

1721
01:28:17,560 --> 01:28:20,720
Speaker 16: problem with quality. And the other important thing to remember is,

1722
01:28:21,160 --> 01:28:24,800
Speaker 16: you know, it's a very competitive environment out there. The

1723
01:28:25,080 --> 01:28:28,040
Speaker 16: underlying metrics that are used to make up rankings for

1724
01:28:28,160 --> 01:28:30,800
Speaker 16: all of our universities have actually been going up long term.

1725
01:28:31,640 --> 01:28:34,280
Speaker 16: Just other universities are going up faster than us, and

1726
01:28:34,439 --> 01:28:36,320
Speaker 16: so we're being squeezed down somewhat.

1727
01:28:36,400 --> 01:28:39,800
Speaker 3: Ah, that's intriguing. I hadn't I appreciated that. So if

1728
01:28:39,880 --> 01:28:42,280
Speaker 3: you compare where our universities are just at the kind

1729
01:28:42,280 --> 01:28:45,680
Speaker 3: of core numbers compared to ten or fifteen years ago,

1730
01:28:45,760 --> 01:28:48,200
Speaker 3: that they are actually in a better place despite COVID

1731
01:28:48,240 --> 01:28:48,880
Speaker 3: and everything else.

1732
01:28:49,479 --> 01:28:52,240
Speaker 16: Yeah, we're doing very well, and we're doing I think

1733
01:28:52,320 --> 01:28:54,120
Speaker 16: exactly you know where we're exactly the same in New

1734
01:28:54,200 --> 01:28:56,919
Speaker 16: Zealand as we are for probably every other developed economy.

1735
01:28:57,439 --> 01:29:01,240
Speaker 16: We have publicly funded universities where governments are wanting more

1736
01:29:01,280 --> 01:29:05,679
Speaker 16: and more better teaching, better research, better graduate outcomes, better

1737
01:29:05,720 --> 01:29:08,599
Speaker 16: transfer of knowledge. So it's a good thing long term

1738
01:29:08,720 --> 01:29:12,120
Speaker 16: that these you know that our absolute scores are going up,

1739
01:29:12,640 --> 01:29:14,280
Speaker 16: but it is a problem long term the fact that

1740
01:29:14,439 --> 01:29:17,320
Speaker 16: our relative scores are going down, because it does make

1741
01:29:17,439 --> 01:29:19,679
Speaker 16: us a bit less competitive for staff and students.

1742
01:29:19,800 --> 01:29:22,160
Speaker 3: So what needs to change in order for these universities

1743
01:29:22,200 --> 01:29:22,639
Speaker 3: to do better?

1744
01:29:23,880 --> 01:29:27,320
Speaker 16: Look, fundamentally, as public universities, seventy percent of our funding

1745
01:29:27,479 --> 01:29:31,200
Speaker 16: either comes from or is controlled by government. It's government,

1746
01:29:31,640 --> 01:29:34,840
Speaker 16: you know, having to manage alongside other priorities, just keeping

1747
01:29:34,880 --> 01:29:36,840
Speaker 16: the investment up in universities.

1748
01:29:36,720 --> 01:29:39,120
Speaker 3: Right, So keep keeping it up and not increasing it,

1749
01:29:39,240 --> 01:29:39,840
Speaker 3: just maintaining it.

1750
01:29:40,560 --> 01:29:43,360
Speaker 16: Well, at least maintaining it. Increasing would be nice. But

1751
01:29:44,040 --> 01:29:45,840
Speaker 16: you know, I read the same economic data that you do.

1752
01:29:46,120 --> 01:29:49,680
Speaker 3: Yeah, is there a role that universities have here as

1753
01:29:49,720 --> 01:29:52,400
Speaker 3: well when it comes to consolidating programs and you know,

1754
01:29:52,800 --> 01:29:55,160
Speaker 3: maybe even you know, consolidating whole departments.

1755
01:29:56,120 --> 01:29:58,679
Speaker 16: Look, there is, I mean, it's one of the features

1756
01:29:58,720 --> 01:30:02,360
Speaker 16: of you knowities in kind of the Western world. They

1757
01:30:02,400 --> 01:30:04,599
Speaker 16: were all kind of set up in the nineteen eighties

1758
01:30:05,240 --> 01:30:08,360
Speaker 16: under different public policy to be run on competitive lines.

1759
01:30:08,680 --> 01:30:11,360
Speaker 16: So the whole theory was that they should compete for students,

1760
01:30:11,400 --> 01:30:14,320
Speaker 16: they should compete for research funding. That was a way

1761
01:30:14,320 --> 01:30:17,479
Speaker 16: of making sure that the university's qualifications and research would

1762
01:30:17,479 --> 01:30:23,000
Speaker 16: be high quality, relevant. So it's basically meant you've had

1763
01:30:23,040 --> 01:30:26,080
Speaker 16: baked into the system for a very long time, now

1764
01:30:27,040 --> 01:30:30,639
Speaker 16: this requirement that they actually be competition. But of course,

1765
01:30:30,720 --> 01:30:34,320
Speaker 16: now as you say, you know, there are real opportunities

1766
01:30:34,360 --> 01:30:36,479
Speaker 16: I think for us to do more collaboration. We already

1767
01:30:36,520 --> 01:30:38,879
Speaker 16: do a lot, so we already do things like joint procurement,

1768
01:30:38,960 --> 01:30:42,439
Speaker 16: we share infrastructure, we share research facilities. I think there

1769
01:30:42,520 --> 01:30:46,160
Speaker 16: is opportunity to do more. Of course, the hardest time

1770
01:30:46,280 --> 01:30:49,679
Speaker 16: to do those kind of collaborations is when money is tight.

1771
01:30:50,120 --> 01:30:53,080
Speaker 16: It really does take time and money to collaborate and

1772
01:30:53,120 --> 01:30:55,880
Speaker 16: to build the infrastructure, and it takes years to realize

1773
01:30:55,920 --> 01:30:56,360
Speaker 16: their benefit.

1774
01:30:56,680 --> 01:30:59,519
Speaker 3: Appreciate you do, Chris. That is universities end in chief

1775
01:30:59,600 --> 01:31:01,720
Speaker 3: executs of Chris Well And thank you very much for

1776
01:31:01,840 --> 01:31:02,800
Speaker 3: your feedback as well.

1777
01:31:02,920 --> 01:31:03,120
Speaker 5: Jack.

1778
01:31:03,320 --> 01:31:05,799
Speaker 3: Just looking at some of the PhD subjects and studies

1779
01:31:05,840 --> 01:31:08,000
Speaker 3: woild show you the very poor quality of research in

1780
01:31:08,080 --> 01:31:11,880
Speaker 3: our universities. We made many more scientific studies not sociology

1781
01:31:12,280 --> 01:31:16,120
Speaker 3: and education topics. I mean, I think you can have both,

1782
01:31:16,280 --> 01:31:18,920
Speaker 3: can't you if you want to send us a text

1783
01:31:18,960 --> 01:31:21,680
Speaker 3: ninety two ninety two as our text number. So you

1784
01:31:21,720 --> 01:31:24,160
Speaker 3: know in Australia today, you know how the Melbourne Rebels

1785
01:31:24,200 --> 01:31:28,160
Speaker 3: have been ditched. They have launched a lawsuit against Rugby Australia.

1786
01:31:28,200 --> 01:31:30,160
Speaker 3: This is probably the last thing that Rugby Australia needs,

1787
01:31:30,200 --> 01:31:32,080
Speaker 3: but also getting ditched was the last thing that Melbourne

1788
01:31:32,120 --> 01:31:35,400
Speaker 3: Rebels needed. So they're seeking quote significant damages from Rugby

1789
01:31:35,400 --> 01:31:37,479
Speaker 3: Australia in a lawsuit after they were dissolved by the

1790
01:31:37,560 --> 01:31:41,559
Speaker 3: governing body. They say that they're a member of Rugby Australia,

1791
01:31:41,640 --> 01:31:44,120
Speaker 3: they had legally expectation that they would be treated fairly.

1792
01:31:44,479 --> 01:31:47,639
Speaker 3: They said they weren't treated fairly relative to other clubs

1793
01:31:47,720 --> 01:31:51,080
Speaker 3: or other members. So anyway, they are taking Rugby Australia

1794
01:31:51,120 --> 01:31:52,640
Speaker 3: through the Federal Court. So that is going to be

1795
01:31:52,760 --> 01:31:56,160
Speaker 3: very interesting. Probably doesn't bode terribly well for the future

1796
01:31:56,160 --> 01:31:58,880
Speaker 3: of the code across the ditch. Anyway, after the break,

1797
01:31:58,920 --> 01:32:00,639
Speaker 3: we're going to take you to the UK and Europe.

1798
01:32:00,680 --> 01:32:01,719
Speaker 3: Right now, it's quarter to seven.

1799
01:32:02,479 --> 01:32:05,680
Speaker 1: Whether it's Macro micro or just playing economics.

1800
01:32:05,920 --> 01:32:09,000
Speaker 2: It's all on the Business Hour with Jack Tam and

1801
01:32:09,320 --> 01:32:13,920
Speaker 2: my HR the HR solution for busy SMEs, News Talks Ippi.

1802
01:32:14,040 --> 01:32:17,360
Speaker 3: The largest range of tires online thirteen to seven. On

1803
01:32:17,479 --> 01:32:19,880
Speaker 3: News Talks, He'd be UK correspondent Devin Gray is with

1804
01:32:20,000 --> 01:32:24,120
Speaker 3: a susidne Hi Gvin Hither Jack. This awful story in

1805
01:32:24,360 --> 01:32:27,240
Speaker 3: Belgrade in Serbia and a fourteen year old boy who

1806
01:32:27,479 --> 01:32:30,320
Speaker 3: listeners might remember killed nine children in a security guard

1807
01:32:30,439 --> 01:32:33,639
Speaker 3: in a shooting. Now he's given evidence at his parents

1808
01:32:33,800 --> 01:32:38,080
Speaker 3: trial behind closed doors. Tell us about that well.

1809
01:32:38,240 --> 01:32:40,479
Speaker 19: Since the attack back in May of last year, the

1810
01:32:40,560 --> 01:32:43,280
Speaker 19: boy's been held in a psychiatric institution, but as a

1811
01:32:43,360 --> 01:32:46,439
Speaker 19: fourteen year old in Serbia, he can't be put on

1812
01:32:46,560 --> 01:32:49,919
Speaker 19: trial because he's below the age of criminal responsibility. Instead,

1813
01:32:50,400 --> 01:32:55,120
Speaker 19: the authorities are prosecuting the parents, saying and accusing them

1814
01:32:55,160 --> 01:32:58,240
Speaker 19: of a serious act against general safety as the quote

1815
01:32:58,280 --> 01:33:01,280
Speaker 19: being used in order, really that they didn't secure the

1816
01:33:01,360 --> 01:33:04,080
Speaker 19: weapons that they had and ammunition that they had at

1817
01:33:04,120 --> 01:33:07,120
Speaker 19: their home. They didn't secure those properly. Now the couple

1818
01:33:07,520 --> 01:33:10,360
Speaker 19: deny the charges, but the boy, who's only been identified

1819
01:33:10,360 --> 01:33:13,960
Speaker 19: as KK, has been brought to the court by a

1820
01:33:14,040 --> 01:33:16,640
Speaker 19: special escort. It's the first time he's left the psychiatric

1821
01:33:16,720 --> 01:33:20,200
Speaker 19: hospital and has been questioned as a witness in it,

1822
01:33:20,520 --> 01:33:22,840
Speaker 19: not as the accused, as I said, it's his parents

1823
01:33:22,880 --> 01:33:26,800
Speaker 19: who are on trial, and he got questioned by the

1824
01:33:26,880 --> 01:33:30,560
Speaker 19: prosecuted defense lawyers and also crucially the families of the

1825
01:33:30,680 --> 01:33:35,679
Speaker 19: dead and wounded. Indeed, one mother of a murdered child

1826
01:33:35,840 --> 01:33:40,080
Speaker 19: asked him questions and he responded to them. He took

1827
01:33:40,240 --> 01:33:42,959
Speaker 19: the handgun to the school when he was just thirteen

1828
01:33:43,520 --> 01:33:46,599
Speaker 19: and opened fire. Eight of the nine children he murdered

1829
01:33:46,640 --> 01:33:51,479
Speaker 19: with girls, and the court has continued to hear the

1830
01:33:52,240 --> 01:33:54,600
Speaker 19: various testimonies that have come in. This is obviously a

1831
01:33:54,680 --> 01:33:59,200
Speaker 19: case that's dominating news in Europe, and the famili's lawyer

1832
01:33:59,320 --> 01:34:01,680
Speaker 19: says that the it lived a normal life before the

1833
01:34:01,720 --> 01:34:05,160
Speaker 19: shooting and no court process would be able to establish

1834
01:34:05,200 --> 01:34:06,280
Speaker 19: what led him to the attack.

1835
01:34:06,880 --> 01:34:09,799
Speaker 3: Such a sad story, isn't it now? Gevin. The UK's

1836
01:34:09,880 --> 01:34:13,559
Speaker 3: population has increased by one percent in a year. What's

1837
01:34:13,640 --> 01:34:14,120
Speaker 3: that down to?

1838
01:34:15,680 --> 01:34:20,720
Speaker 19: Yeah, well, net International migration, Jack, as if that was

1839
01:34:20,760 --> 01:34:24,280
Speaker 19: a surprise. We've gone from sixty seven point six to

1840
01:34:24,520 --> 01:34:28,560
Speaker 19: sixty eight point three million people by the middle of

1841
01:34:28,680 --> 01:34:30,960
Speaker 19: last year. The most recent figure so that's an extra

1842
01:34:31,000 --> 01:34:34,360
Speaker 19: six hundred and sixty two four hundred, an increase of

1843
01:34:34,560 --> 01:34:39,120
Speaker 19: one percent. It's the largest annual numerical and percentage increase

1844
01:34:39,479 --> 01:34:44,280
Speaker 19: since records began in nineteen seventy one. And what's interesting

1845
01:34:44,280 --> 01:34:46,719
Speaker 19: about this is actually quite a few people are leaving

1846
01:34:46,800 --> 01:34:50,879
Speaker 19: the UK and indeed we had more deaths than births

1847
01:34:50,920 --> 01:34:54,200
Speaker 19: in the UK last year. But it's this international migration

1848
01:34:54,360 --> 01:34:57,040
Speaker 19: people coming in from abroad, that is pushing the figure

1849
01:34:57,160 --> 01:35:01,000
Speaker 19: up and up and up. And indeed, last weekend, one

1850
01:35:01,080 --> 01:35:04,719
Speaker 19: of the days, nearly one thousand people crossed the English

1851
01:35:04,840 --> 01:35:08,800
Speaker 19: Channel illegally in small boats in a single day to

1852
01:35:08,880 --> 01:35:11,000
Speaker 19: claim asylum. And that's going to be one of the

1853
01:35:11,160 --> 01:35:14,840
Speaker 19: factors pushing up this incredible figure. And we are now

1854
01:35:15,000 --> 01:35:19,599
Speaker 19: becoming rapidly becoming one of the most densely populated nations

1855
01:35:19,600 --> 01:35:20,040
Speaker 19: in the world.

1856
01:35:20,160 --> 01:35:23,920
Speaker 3: Yeah, so they's fascinating. So that's knit migration, right, So

1857
01:35:24,040 --> 01:35:26,840
Speaker 3: once you account for all the people who have left

1858
01:35:27,040 --> 01:35:29,320
Speaker 3: and all of the people who have arrived, that's an

1859
01:35:29,400 --> 01:35:34,679
Speaker 3: increase of one percent, which is huge especially when yeah,

1860
01:35:34,800 --> 01:35:37,000
Speaker 3: especially when you do have many people leaving the shores.

1861
01:35:37,240 --> 01:35:39,679
Speaker 3: Now a Dutch museum has had to pick an artwork

1862
01:35:39,760 --> 01:35:42,040
Speaker 3: out of the bin. For anyone who's ever said, oh

1863
01:35:42,160 --> 01:35:44,759
Speaker 3: I could have drawn that, or oh that looks like garbage,

1864
01:35:45,160 --> 01:35:46,479
Speaker 3: in this case it kind of was.

1865
01:35:47,880 --> 01:35:51,400
Speaker 19: Yes, it was Jack and rather amusingly I read on

1866
01:35:51,520 --> 01:35:53,360
Speaker 19: social media plenty of people saying it should have been

1867
01:35:53,400 --> 01:35:56,400
Speaker 19: left in the bin as well. But this Dutch museum

1868
01:35:56,600 --> 01:35:59,840
Speaker 19: has a piece of artwork called all the Good Times

1869
01:36:00,120 --> 01:36:03,519
Speaker 19: Spent Together by a French artist called Alexandra Lave And

1870
01:36:03,600 --> 01:36:07,639
Speaker 19: what it basically is is two dented beer cans left

1871
01:36:07,720 --> 01:36:12,360
Speaker 19: on the floor, emptied right. They were exhibited bizarrely in

1872
01:36:12,439 --> 01:36:15,599
Speaker 19: the museum's lift, as if they were been left behind

1873
01:36:15,680 --> 01:36:18,760
Speaker 19: by construction workers. Now, of course, somebody who was a

1874
01:36:18,840 --> 01:36:23,520
Speaker 19: technical guy maintaining the lift was on holiday. His replacement

1875
01:36:23,640 --> 01:36:26,040
Speaker 19: didn't realize it was an artwork and simply threw them

1876
01:36:26,080 --> 01:36:29,320
Speaker 19: in the bin. I suppose, thankfully they managed to find

1877
01:36:29,320 --> 01:36:31,559
Speaker 19: them before they went to the scrap peep. The cans

1878
01:36:31,600 --> 01:36:35,160
Speaker 19: have been cleaned and placed at the museum's entrance. And yeah,

1879
01:36:35,200 --> 01:36:37,040
Speaker 19: if you get the time, have a look at the

1880
01:36:37,200 --> 01:36:39,600
Speaker 19: artwork and tell me what you think. I really do

1881
01:36:39,720 --> 01:36:41,160
Speaker 19: think this is one of those that you think I

1882
01:36:41,200 --> 01:36:43,679
Speaker 19: could have done that. Of course, give us the name again,

1883
01:36:44,560 --> 01:36:47,240
Speaker 19: all the good times we spent together, all.

1884
01:36:47,200 --> 01:36:49,960
Speaker 3: The good times we spent together. Okay, I mean.

1885
01:36:49,920 --> 01:36:52,960
Speaker 19: Yeah, I'm not exaggerating to say it's just two beer cans.

1886
01:36:53,120 --> 01:36:56,160
Speaker 3: Yeah right, okay, yeah, well yeah, okay, yeah, I'm looking

1887
01:36:56,200 --> 01:36:59,160
Speaker 3: at it now and it is just two two beer cans.

1888
01:36:59,439 --> 01:37:01,960
Speaker 3: One of them's a we dent't the other one seems okay,

1889
01:37:02,280 --> 01:37:06,200
Speaker 3: So that's yeah. Now it's in the eye of the beholder,

1890
01:37:06,240 --> 01:37:09,960
Speaker 3: as they say, Gavin, that's all right. I like I'm

1891
01:37:10,040 --> 01:37:12,799
Speaker 3: not nearly cultured enough. Hey, thank you so much. Appreciate

1892
01:37:12,840 --> 01:37:15,559
Speaker 3: your time as ever you gained. Your correspondent, Gavin Gray

1893
01:37:16,000 --> 01:37:19,120
Speaker 3: with us there. Well, I suppose it says something, doesn't it.

1894
01:37:19,200 --> 01:37:21,400
Speaker 3: It does say something, and it's only added to the

1895
01:37:21,560 --> 01:37:23,479
Speaker 3: art's mystique that it found its way to the bin.

1896
01:37:23,800 --> 01:37:25,200
Speaker 3: A to seven on newsdalgs EDB.

1897
01:37:27,040 --> 01:37:30,920
Speaker 2: Whether it's macro, micro or just plain economics, it's all

1898
01:37:31,000 --> 01:37:34,599
Speaker 2: on The Business Hour with Heather Duplicy Ellen and my HR,

1899
01:37:35,000 --> 01:37:37,559
Speaker 2: the HR platform for SME US TALKSB.

1900
01:37:38,840 --> 01:37:41,479
Speaker 3: Hey, thank you very much for your texts this evening.

1901
01:37:41,560 --> 01:37:43,880
Speaker 3: Mary sent me a note to say Jack regarding universities.

1902
01:37:43,960 --> 01:37:47,639
Speaker 3: The decline in our universities ranking internationally is of major

1903
01:37:47,720 --> 01:37:50,439
Speaker 3: concern as far as I'm concerned, Jack, If the universities

1904
01:37:50,439 --> 01:37:52,080
Speaker 3: are not going to wake up to the problem that

1905
01:37:52,200 --> 01:37:54,960
Speaker 3: they have in many of their institutions, then they won't improve.

1906
01:37:55,080 --> 01:37:58,040
Speaker 3: We are sick of their woke attitudes. Thank you for

1907
01:37:58,120 --> 01:38:00,240
Speaker 3: that ninety two to ninety two if you want to

1908
01:38:00,320 --> 01:38:02,439
Speaker 3: flick us a message here this evening, So the black

1909
01:38:02,479 --> 01:38:05,439
Speaker 3: Caps are facing off in their first Test against India

1910
01:38:05,600 --> 01:38:08,960
Speaker 3: a week from now in Bangalore. Bit of a blow

1911
01:38:09,280 --> 01:38:12,720
Speaker 3: for the first Test of Tom Latham's time as the

1912
01:38:12,760 --> 01:38:16,000
Speaker 3: black Caps Test captain, came Williamson is going to be

1913
01:38:16,040 --> 01:38:19,200
Speaker 3: missing the start of that Test series with a groin strain.

1914
01:38:19,560 --> 01:38:21,840
Speaker 3: I mean it's going to be an upheld battle, I

1915
01:38:21,880 --> 01:38:25,040
Speaker 3: think in the subcontinent, especially if the Sri Lankan their

1916
01:38:25,080 --> 01:38:27,160
Speaker 3: recent Sri Lunkan series was anything to go by. The

1917
01:38:27,200 --> 01:38:29,000
Speaker 3: black Caps are going to have a tricky time of things,

1918
01:38:29,040 --> 01:38:32,000
Speaker 3: but obviously not made any easier without came Williamson to

1919
01:38:32,080 --> 01:38:34,880
Speaker 3: call on. So Nick Buley is on Sports Talk this evening.

1920
01:38:35,080 --> 01:38:36,840
Speaker 3: He is going to look at what that will mean

1921
01:38:37,200 --> 01:38:40,240
Speaker 3: for the black Caps and what their chances are really

1922
01:38:40,320 --> 01:38:43,479
Speaker 3: going to be like against that very strong Indian squad.

1923
01:38:43,880 --> 01:38:45,680
Speaker 3: That is it for me though today. Thank you very

1924
01:38:45,760 --> 01:38:48,800
Speaker 3: much for all your texts and emails. Kenzi and Andy

1925
01:38:48,880 --> 01:38:51,160
Speaker 3: have been doing the difficult things and Andy has chosen

1926
01:38:51,280 --> 01:38:52,960
Speaker 3: us a song to play out the evening. What do

1927
01:38:53,000 --> 01:38:55,200
Speaker 3: you got, bud Bit of a boogie? We've got Charlie

1928
01:38:55,280 --> 01:38:57,080
Speaker 3: Xy ex bit of a boogie, Bit of a boogie.

1929
01:38:58,720 --> 01:39:00,800
Speaker 3: I really have to sell the song. Ali XCX is

1930
01:39:00,840 --> 01:39:01,719
Speaker 3: coming to New Zealand.

1931
01:39:01,840 --> 01:39:02,599
Speaker 20: The rumors are true.

1932
01:39:02,760 --> 01:39:05,080
Speaker 22: She's coming to Laneway, right.

1933
01:39:05,160 --> 01:39:07,080
Speaker 3: And I mean this has been rumored for some time.

1934
01:39:07,439 --> 01:39:09,160
Speaker 3: I'd'm kind of fan of Charlie x X.

1935
01:39:09,320 --> 01:39:11,479
Speaker 22: Yeah, would you pay for a whole festival ticket to

1936
01:39:11,479 --> 01:39:12,960
Speaker 22: go see her? Because I looked at the lineup and

1937
01:39:13,040 --> 01:39:14,920
Speaker 22: I think people just pretend that they're like thisss music.

1938
01:39:16,120 --> 01:39:18,960
Speaker 22: Don't want to see Charlie x Ye, well that Charlie xx,

1939
01:39:19,000 --> 01:39:21,880
Speaker 22: but everyone else. The next artist is called Bebadoobe. It

1940
01:39:22,120 --> 01:39:24,200
Speaker 22: seems to me that Barry can't swim.

1941
01:39:24,640 --> 01:39:28,120
Speaker 3: Well can't he? I don't know. I don't know about that.

1942
01:39:28,320 --> 01:39:30,759
Speaker 22: But people, I think go to these festivals and pretend

1943
01:39:30,800 --> 01:39:31,240
Speaker 22: they love it.

1944
01:39:31,600 --> 01:39:35,120
Speaker 3: Okay, yeah, right, okay, do you know what I'm just

1945
01:39:35,120 --> 01:39:37,439
Speaker 3: gonna at the rundown now, of the of the bands

1946
01:39:37,479 --> 01:39:38,440
Speaker 3: that are performing.

1947
01:39:38,280 --> 01:39:39,280
Speaker 22: You know one of them, don't you.

1948
01:39:39,720 --> 01:39:42,400
Speaker 3: It's Charlie xx Yeah, man, yeah, So would you spend

1949
01:39:42,439 --> 01:39:46,280
Speaker 3: Turner bucks just for Charlie XCX Maybe not? Yeah, or bibadoobey.

1950
01:39:46,320 --> 01:39:48,479
Speaker 3: I think it's for me anyway, that's all right, Yeah,

1951
01:39:48,640 --> 01:39:50,120
Speaker 3: thank you very much for doing the tough stuff, for

1952
01:39:50,120 --> 01:39:52,599
Speaker 3: seeing bro. We will let Charlie x X play things out.

1953
01:39:52,680 --> 01:39:55,360
Speaker 3: Almost seven o'clock, This is Newstalk's CB.

1954
01:40:01,160 --> 01:40:04,280
Speaker 2: For more from Hither Duplessy Allen Drive, listen live to

1955
01:40:04,400 --> 01:40:07,439
Speaker 2: news Talks at B from four pm weekdays, or follow

1956
01:40:07,479 --> 01:40:09,200
Speaker 2: the podcast on iHeartRadio