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Speaker 1: Digging through the spin spens to find the real story.

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Speaker 1: Or it's Ryan Bridge on Heather du for see Ellen

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Speaker 1: Drive with one New Zealand let's get connected and news talks.

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Speaker 2: They'd be good afternoon seven after four coming up on

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Speaker 2: the program, Why has everyone been so secret squirrel about

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Speaker 2: Adrian Or? Will look at that? After five Todd McLay,

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Speaker 2: the Trade Minister. The big question for this trade war now,

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Speaker 2: of course, is how long does it last? The America's cup?

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Speaker 2: Is it really coming home? New talks under way? But

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Speaker 2: who pays for that? And I talked to Richard Prebble

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Speaker 2: at five point thirty five this evening he reckons the

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Speaker 2: White Tonguy Tribunal has been captured by socialists Ryan Bridge.

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Speaker 2: So Adrian Or is gone. And the Nicola Willis statement

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Speaker 2: said it all. Really there was one short, sharp line

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Speaker 2: from the Finance Minister this afternoon. I wish him well

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Speaker 2: for the future. That was it seven years running the

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Speaker 2: Central Bank and not so much as a thank you.

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Speaker 2: Not surprising given the history here, of course, there's been

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Speaker 2: no lost between these two. Williston want him to be

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Speaker 2: reappointed for his five year term. In the first place,

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Speaker 2: you might recall that she wrote a letter to Grant

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Speaker 2: Robertson saying pretty much exactly that, don't rehire this guy.

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Speaker 2: And Robertson, of course did, and at the time he

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Speaker 2: said it was important to have continuity in the role,

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Speaker 2: which we all know proved to be exactly what we

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Speaker 2: didn't need or opened the floodgates during COVID monetary policy

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Speaker 2: was loose money printing with gay abandon and then of

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Speaker 2: course the tide went out and we were all swimming naked.

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Speaker 2: Inflation was so bad that we literally couldn't afford togs.

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Speaker 2: He has copped a lot of flack over the years,

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Speaker 2: hasn't he. He was under the pump. I interviewed him

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Speaker 2: many times during that particularly tumultuous period on the Tally.

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Speaker 2: Viewers found him a bit smarmy, some said he was arrogant,

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Speaker 2: The opposition loathed him. And this is exactly why he

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Speaker 2: shouldn't have been reappointed, why Robertson got that so wrong.

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Speaker 2: Continuity is exactly what we didn't need. The argument is,

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Speaker 2: and it's a pretty convincing one. We shouldn't have let

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Speaker 2: the guy who helped start the fire and fan the

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Speaker 2: flames be the one to put the fire out. Perhaps

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Speaker 2: if somebody else were in charge, we'd have taken a

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Speaker 2: slower and lower ocr track like the Aussies, thereby avoiding

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Speaker 2: or at least softening the worst recession in thirty years.

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Speaker 2: He brought us back down to earth like a ton

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Speaker 2: of bricks. That is all hypothetical now, of course, it's

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Speaker 2: all shoulder. It's history, and from today so is Adrian

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Speaker 2: or Ryan Bridge. Nine after four. Our prisons are a

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Speaker 2: recruiting round for gangs. This is according to a new

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Speaker 2: report from the researcher doctor Jared Gilbert, which found the

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Speaker 2: top dog model of leadership in prisons has now shifted

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Speaker 2: and there are groups of gangs running our prisons. Non

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Speaker 2: gang members are put under pressure to join the gangs

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Speaker 2: because they obviously need protection, leading to calls for greatest

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Speaker 2: segregation amongst our prison population. Neil Beels is the Corrections

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Speaker 2: Deputy Director for Men's Prisons. Neil good afternoon, Good afternoon, Ryan.

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Speaker 2: Is it is it true to say that gangs are

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Speaker 2: running our prisons?

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Speaker 3: No, it's not true, and I don't think that's what

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Speaker 3: the report says. The report says that they have an

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Speaker 3: assumed power in prison, and I think what is fair

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Speaker 3: and what I'll say, first and foremost is this is

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Speaker 3: actually a very good report and very helpful to us.

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Speaker 3: What is fair to recognize is that power gangs do

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Speaker 3: hold some power in prisons because of the very nature

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Speaker 3: of the things that they do, the violence they perpetuate,

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Speaker 3: the risks that they run, the contraband that they organize

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Speaker 3: to bring in, et cetera. This has always been thus,

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Speaker 3: it's been the case for decades. It isn't anything new

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Speaker 3: for us in terms of dealing with that kind of

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Speaker 3: behavior from gangs. So, but what we are seeing is

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Speaker 3: an increase, particularly by some of the newer gangs. We're

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Speaker 3: seeing an increase in the violence perpetuated and also just

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Speaker 3: the resources and the money that they have to carry

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Speaker 3: out some of their criminal activities.

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Speaker 2: Yes, did that require, I mean for them to do that,

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Speaker 2: because they're doing drugs on the inside, They've got cell

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Speaker 2: phones on the inside. We've seeing them doing the common cheers,

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Speaker 2: doing hackers. They've managed to film that, get the footage

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Speaker 2: out on the outside. You say they're not running the place,

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Speaker 2: but they're clearly running a mark.

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Speaker 3: They're not running a mark. Look, we have handfuls of

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Speaker 3: incidents in prisons all the time, right, that's the nature

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Speaker 3: of prisons. We deal with people who don't surprisingly just

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Speaker 3: start behaving themselves a minute they come through the door.

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Speaker 3: They want to carry on behaving in the way that

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Speaker 3: they do. We operate anywhere between thirty five and forty

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Speaker 3: percent of gang or gang members or gang affiliated people

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Speaker 3: in prison at any given time. We're currently operating in

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Speaker 3: our prison system about ten thousand, five hundred people. Ten

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Speaker 3: four hundred to five hundred people. That's an awful lot

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Speaker 3: of people. And when you look at the number of

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Speaker 3: incidents that we're dealing with, relatively few compared to what

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Speaker 3: we could be dealing with if we weren't doing the

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Speaker 3: things that we are doing very well, which again I

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Speaker 3: think is highlighted in the report here.

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Speaker 2: What we what happens at the moment, What happens at

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Speaker 2: the moment with with gang members in terms of segregation,

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Speaker 2: like do you segregate them so that the gang members

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Speaker 2: who are all in one gang are together, or do

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Speaker 2: you segregate the rival gang members from each other? How

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Speaker 2: does it work?

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Speaker 3: No, we don't. We don't have gang only units. That's

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Speaker 3: that's been proven through research elsewhere and looking at overseas

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Speaker 3: models that it's just not a good model. What we

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Speaker 3: tend to do is we we try and balance the

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Speaker 3: power out within units. So you might have a unit

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Speaker 3: fradenment sake, you're going to my old prison of Los

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Speaker 3: to run in Auckland, you know you're going there. You

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Speaker 3: might see on any given landing two or three Mongol Mob,

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Speaker 3: two or three Black Power, two or three tribesmen. And

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Speaker 3: then you try and keep that that that kind of

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Speaker 3: balance going. And as Jared reflects in his report, it's

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Speaker 3: kind of like the Cold War. You know, if there's

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Speaker 3: if there's a balance of power, then nobody can take control.

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Speaker 2: Always We're sorry, sorry, continue.

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Speaker 3: So that that doesn't always work. When when you are

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Speaker 3: dealing with the different security classifications, not all gang members

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Speaker 3: will be high security or maximum security. There will be

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Speaker 3: some in the lower security echelons as well. You've also

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Speaker 3: then got to think of those who are voluntarily segregated.

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Speaker 3: They may be under threat because of the type of

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Speaker 3: offense that they've committed. There may be in depth of

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Speaker 3: the gang members, there may be in fear of the

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Speaker 3: gang members. So the the kind of the ecosystem that

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Speaker 3: we deal with is not as simplistic and as easy

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Speaker 3: as what some people may think it is you know,

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Speaker 3: if you just lock them up, then you've solved the problem.

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Speaker 3: You haven't solved the problem. You're just you're probably just

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Speaker 3: ignoring the problem. Is if all you're doing is operating

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Speaker 3: a containment operation, because that will have a time of

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Speaker 3: it and eventually you will be dealing with other issues

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Speaker 3: as well.

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Speaker 2: The sad part about all this is the civilians, or

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Speaker 2: what they call the neutrals, or in this report they

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Speaker 2: called sometimes peasants or bundies. These are just people who

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Speaker 2: aren't members of gangs and the bottom of the food chain.

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Speaker 3: Yeah, and again, you know that's a sad nature of prison, right,

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Speaker 3: you know, you're dealing with criminal elements in prison, people

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Speaker 3: and people who will take advantage of those deemed to

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Speaker 3: be more vulnerable or weaker than others. And that's exactly

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Speaker 3: what we see gangs doing on the outside. Do you

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Speaker 3: think they do this in the communities they come from?

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Speaker 2: Do you do drug testing? How many of our prison

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Speaker 2: population are on drugs?

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Speaker 3: We do do drug testing. We do it for various reasons.

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Speaker 3: So we have random drug testing operations going on, so

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Speaker 3: we can you know, we can literally just press a

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Speaker 3: button on a machine and all tell us to go

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Speaker 3: and and randomly drug tests a percentage of our population

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Speaker 3: at any given time, and that's what gives us our percentage

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Speaker 3: get I'll get our team to send those figures on

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Speaker 3: too your ian if you want it hard. No, it's

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Speaker 3: come down a lot, and we see it fluctuate. It's

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Speaker 3: come down a little bit over recent years, but we

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Speaker 3: have seen peaks, particularly when we see if you look

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Speaker 3: at the Matthews last year, it was reported METTHEWS in

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Speaker 3: New Zealand. I'm not talking about prisons, and I'm talking

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Speaker 3: about New Zealand in general. Matthews double last year. So

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Speaker 3: what you see prison prisons are a microcosm of society.

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Speaker 3: So what happens on the side happens on the inside only.

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Speaker 2: But yeah, but the point is you're in prison. You're

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Speaker 2: not meant to be able to get your hands on meth, right, so.

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Speaker 3: Well clearly, and you're not. You're also not supposed to

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Speaker 3: be violent against other people, and you're not supposed to

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Speaker 3: intimidate other people. But these are criminal elements of our

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Speaker 3: society and they will do whatever they need to do.

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Speaker 3: So Ryan, imagine you're an officer and you get offered

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Speaker 3: thirty thousand dollars to bring a cell phone in. That

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Speaker 3: is what our staff are dealing with now. I mean

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Speaker 3: the common Ciro's and Mongols have got incredible resources. I was,

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Speaker 3: I've been at Rim Attack of Prison. You talk to

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Speaker 3: the talk to the general manager Rom Attack of Prison.

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Speaker 3: He will tell you these are the challenges that his

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Speaker 3: officers say.

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Speaker 2: How do you stop how do you stop them accepting

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Speaker 2: the money?

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Speaker 3: Well, it all comes down to good selection, good training,

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Speaker 3: and as Jared points out in his report, you know,

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Speaker 3: we need to make sure that we are learning and

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Speaker 3: have a We need to have an environment where staffield,

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Speaker 3: they can come safely and tell us look, I'm being

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Speaker 3: approached by these people disuppile to do and the vast

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Speaker 3: majority do. Let's make no jokes. Yeah, the vast majority

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Speaker 3: of our staff will stand up against this, report it

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Speaker 3: and we'll deal with it. But it is incessant. You know,

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Speaker 3: the gangs are pervasive. They have a deep reach in

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Speaker 3: our communities, they have a deep reachon of prisons. It's

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Speaker 3: a reality that we deal with every single day.

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Speaker 2: All right, Neil, Neil, we have to leave it here, Neil,

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Speaker 2: but I appreciate you coming on the program. I'm fascinating

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Speaker 2: report to have a read of you can find it

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Speaker 2: on the HEROLD website. Actually, Neil Bill's who's been with

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Speaker 2: us from Corrections. He's the Corrections Deputy Commissioner for Men's Prisons.

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Speaker 2: Time is sixteen after four. The number is nine to

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Speaker 2: nine two. Would love to get your texts on this.

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Speaker 2: Darcy Waldegrave here next with for It's.

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Speaker 1: The Heather Dubissie Allan Drive Full Show podcast on iHeartRadio

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Speaker 1: powered by News Talk zebby news Talks.

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Speaker 2: Been nineteen after four. The trade war in full force.

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Speaker 2: You've got the Americans firing at Canada and Mexico and China,

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Speaker 2: and now Canada and Mexico firing back. Not quite sure

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Speaker 2: how Canada as say how Mexico will do that yet,

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Speaker 2: but Canada has certainly made its intentions clear anyway, Trump

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Speaker 2: speaking to longest today'sys. Don't worry.

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Speaker 4: Everything's fine, sir, about making America rich again and making

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Speaker 4: America great again. And it's happening, and it will happen

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Speaker 4: rather quickly. There'll be a little disturbance, but we're okay

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Speaker 4: with that.

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Speaker 2: Well, we're not very bad for us. We'll talk Tom

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Speaker 2: McLay about that. After five. It is nineteen after four.

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Speaker 5: Bridge Sport hadas did he build his wall?

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Speaker 2: I forgot No. I half built the war, not even half. No,

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Speaker 2: just a couple of k's of the war really got

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Speaker 2: built good and the Mexicans paid nothing for it. Right now,

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Speaker 2: the black Caps are on the brink of making the

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Speaker 2: Champions Trophy final. This is a little war.

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Speaker 6: Yeah, they've got the South Africans between them and a

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Speaker 6: final against India. India beat Australia last night by eleven runs.

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Speaker 6: I think it was give or take. So the reward

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Speaker 6: for beating South Africa this evening is to travel back

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Speaker 6: to the United our rememirates, because the Indians won't get

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Speaker 6: you in there Pakistan because you know India Pakistan. So

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Speaker 6: that's the reward if they can get there. The perennial

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Speaker 6: semifinal loses in white ball cricket, South Africa seven semifinals

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Speaker 6: and various white ball editions one victory out of seven.

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Speaker 6: So either ago their easy beats or the worm has

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Speaker 6: to turn eventually into my pick against us.

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Speaker 5: Don't know he's hoping not three hundred and fifteensh is

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Speaker 5: the average score four an innings at Lahore, So there'll

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Speaker 5: be runs of plenty and the debate at the moment

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Speaker 5: is with the returning Darryl Mitchell who drops out.

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Speaker 6: Does Young survive? Does Retchen Ravendra survive? Does Stephen Conway survive?

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Speaker 6: So that will be decided while they go in the

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Speaker 6: park on shore. But outside of that, I think we've

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Speaker 6: got a pretty solid side, very.

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Speaker 2: Good now in the America's Cup. This is me. We

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Speaker 2: knew that they were going to have a conversation. Now

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Speaker 2: we know they're having a conversation about whether it comes

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Speaker 2: back to Auckland.

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Speaker 5: Really, I think.

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Speaker 6: When somebody says the economic benefit to Barcelona was two, I.

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Speaker 2: Don't believe it. People start going, yeah, I don't believe it.

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Speaker 6: You don't believe it.

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Speaker 2: No, I think it's nonsense. I think it's fact news.

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Speaker 2: Because we had in New Zealand, we do cost benefit

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Speaker 2: analyzes of these things, and actually we found out that

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Speaker 2: the NBY had been using the wrong calculator and getting

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Speaker 2: the numbers wrong for years.

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Speaker 6: Did MB actually do anything around the America's Cup that

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Speaker 6: actually try and benefit from From what I gather, they

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Speaker 6: actually didn't send anyone to Barcelona to go look New Zealand.

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Speaker 6: They just left it to themselves and there was the

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Speaker 6: big draw card over the team New Zealand. So I

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Speaker 6: don't really know who to trust and believe. And next

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Speaker 6: time you say you stop waving tiny hands at me when.

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Speaker 5: You say.

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Speaker 2: Who pays for it? That's the other thing, you know.

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Speaker 6: Well, Dalton's come out and said, look, we're talking and

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Speaker 6: that's important, but we're going to need central government money

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Speaker 6: and we're going to need some private investors as well.

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Speaker 6: But it looks like there's no bad blood. They haven't gone,

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Speaker 6: oh you're problematic. Last time we've proven and it's hard

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Speaker 6: for me to say this, but we have proven that

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Speaker 6: you need a lot of money to defend the America's Cup.

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Speaker 6: So we got our money and we defend it.

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Speaker 2: What now, Darcy will see tonight.

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Speaker 6: Peter Lestra joins us tonight's talk about that.

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Speaker 2: Look forward to it. Darcy Wudergrave, host of Sports Talk

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Speaker 2: seven o'clock. Right here on News Talks. The'b just gone

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Speaker 2: twenty two minutes after four. When we come back, lots

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Speaker 2: talk about, including how much the Aussies, sorry the Yanks

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Speaker 2: went out of the Aussies on defense.

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Speaker 1: It's staggering informed inside into today's issues. It's Ryan Bridge

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Speaker 1: on Hither Duper c Allen Drive with one New Zealand.

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Speaker 1: Let's get connected.

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Speaker 2: News TALKSBI, News Talks ZB. This is an interesting text

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Speaker 2: coming from one of our listeners, Ryan. Surely Richard Prebble

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Speaker 2: must have had a fair idea before he was appointed

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Speaker 2: to the White Tangy Tribe Journal that it had been

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Speaker 2: quote captured by socialists, and he's played right into their

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Speaker 2: hands by resigning. They'll be laughing all the way to

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Speaker 2: the Courts board this. It's hard to disagree with that.

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Speaker 2: And actually there's been some pushback from the White Tangy

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Speaker 2: Tribunal itself because Richard Prebble came out this morning in

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Speaker 2: the Herold and said, I'm resigning. I've read all these

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Speaker 2: documents and I now believe that this is a socialist

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Speaker 2: manifesto that they are pushing here their socialist agenda. What

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Speaker 2: did you think walking into the White Tanking Trumpunal. You know,

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Speaker 2: it's a fair question to ask. And how did he

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Speaker 2: not know about this before he signed up? It was

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Speaker 2: only in October, Richard Prebble on the show five point

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Speaker 2: thirty five, will ask him. Then it's twenty six after four.

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Speaker 1: Now, Ryan Bridge.

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Speaker 2: So Donald Trump addressed in Congress over in the United States.

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Speaker 2: Here's what he had to say. He said that, you know,

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Speaker 2: they've been wasting money and wasting money on all sorts

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Speaker 2: of things, which is why Trump, you know, Elon Musk

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Speaker 2: has been brought in. Anyway, he had some random examples.

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Speaker 4: Eight million dollars to promote LGBTQI plus in the African

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Speaker 4: nation of Lesuto, which nobody has ever heard of. Sixty

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Speaker 4: million dollars for indigenous peoples and Afro Colombian empowerment in

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Speaker 4: Central America. Sixty million dollars, eight million dollars for making

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Speaker 4: mice transgender.

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Speaker 2: The last one can't be true, surely not twenty seven

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Speaker 2: after four your own news talks, hebb I said, I'd

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Speaker 2: tell you this is from the US. So this this

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Speaker 2: information has come from a guy called Albridge Colby. He

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Speaker 2: is Trump's picked to be the head of policy at

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Speaker 2: the US Defense Department, right, so he's on his way up.

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Speaker 2: Knows what he's talking about. He was giving evidence to

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Speaker 2: a unit US Senate Armed Services Committee today and he said,

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Speaker 2: of Australia, we want them to get their defense spending

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Speaker 2: to three percent of GDP. They're currently at two. That's

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Speaker 2: an extra sixty two billion dollars from our cousins across

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Speaker 2: the ditch. That's more in dollar terms than the UK's

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Speaker 2: increasing theirs buy. So anyway, lots more to come on that.

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Speaker 2: Where to the US after News News Talks, Hebb.

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Speaker 1: On the iHeart app and in your car on your

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Speaker 1: drive home it's Ryan Bridge on Heather Duplicy Allen drive

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Speaker 1: with one New Zealand let's get connected.

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Speaker 5: News Talk said, be.

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Speaker 2: Twenty five away from five News Talks said be if

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Speaker 2: you're just joining US. Stock market has been all over

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Speaker 2: the shop today this after the Trump tariff trade war.

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Speaker 2: It's off, it's going And what happened really is the

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Speaker 2: market didn't price this in properly. They thought it was

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Speaker 2: all bluster. They thought he was just talking big and

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Speaker 2: big noting, and it turns out he went ahead and

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Speaker 2: did it. The big question now, of course, is what happens.

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Speaker 2: How long do they last and to what extent If

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Speaker 2: you're in business, like if you're in the auto industry

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Speaker 2: in America right now, do you start planning that these

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Speaker 2: tariffs will be around for months years? What happens to

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Speaker 2: all your investments and you're hiring and your business decisions.

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Speaker 2: This is the big question that all of those investors,

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Speaker 2: all those companies over in the States and indeed around

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Speaker 2: the worldhead right now is how long are these things

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Speaker 2: gonna last? How long do I need to plan for?

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Speaker 2: We've got Todd McClay on the show, and we'll also

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Speaker 2: do more on an after six twenty four to five.

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Speaker 1: It's the world wires on news dogs. It'd be drive.

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Speaker 2: Lots of reaction to that trade war. Here's Trudeau coming

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Speaker 2: out swinging at Trump.

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Speaker 7: We will relentlessly fight to protect our economy. We will

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Speaker 7: stand up for Canadians every single second of every single day.

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Speaker 7: But Donald, they point out that, even though you're a

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Speaker 7: very smart guy, this is a very dumb thing to do.

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Speaker 2: And the oscar goes to not you, justin who goes

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Speaker 2: to the Ontario Premier, Doug Ford. He's the one who

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Speaker 2: was threatening to withhold the electricity. He's also taken ahead

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Speaker 2: at the don.

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Speaker 8: And I'm highly recommending to President Trump, don't force our

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Speaker 8: hand you under us to meet Canadians. You're making a

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Speaker 8: massive mistake. We're resilient, we're road and we're strong.

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Speaker 2: Don't know what you're on a boat. Meanwhile, in the

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Speaker 2: halls of Congress, the Representative Eric Swellwell didn't mince his words,

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Speaker 2: if you.

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Speaker 9: Wanted lower places and your promise that on d one, Well,

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Speaker 9: the stock market is crashing and places are raising. So

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Speaker 9: you know, this guy's gone to the super Bowl. He's

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Speaker 9: gone to the detail of five hundred. He's gone to

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Speaker 9: you have to see a faith. He's just going to

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Speaker 9: the supermarket and look at what people are spending to

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Speaker 9: feed themselves, because that's where they want them to go.

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Speaker 2: Oh, that was a touchdown. Now across the ditch, Alfred

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Speaker 2: is still tracking towards Queens, saying could Dutch down touch

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Speaker 2: down as a category three.

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Speaker 10: It has turned and it is heading to the coast,

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Speaker 10: and there's not a single model that doesn't.

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Speaker 11: Say it will cross the coast.

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Speaker 10: There is no doubt that it is intensified a bit overnight.

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Speaker 10: The zone of where it will cross will has also tightened,

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Speaker 10: and that will continue to tighten. So it's now somewhere

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Speaker 10: between the Gold and the Sunny coast.

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Speaker 2: Finally, this afternoon, god new research out shows that nearly

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Speaker 2: a core of Americans pee in the shell on a

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Speaker 2: regular basis. Twelve percent do so daily, while another twelve

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Speaker 2: percent just a few times every week. Women twenty percent

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Speaker 2: of women are doing this. Men apparently the worst culprits.

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Speaker 2: Thirty percent are doing it regularly, which means one thing.

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Speaker 2: Seventy percent of them are.

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Speaker 1: Lying international correspondence with ends and eye insurance Peace of

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Speaker 1: mind for New Zealand Business.

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Speaker 2: Twenty two to five. So Trump speaks to Congress. He

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Speaker 2: has had a crack at Democrats who were not clapping

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Speaker 2: for him, And.

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Speaker 4: Once again I look at the Democrats in front of me,

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Speaker 4: and I realize there is absolutely nothing I can say

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Speaker 4: to make them happy, or to make them stand or

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Speaker 4: smile or applaud.

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Speaker 12: Nothing I can do.

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Speaker 4: I could find a cure to the most devastating disease,

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Speaker 4: a disease that would wipe out entire nations, or announce

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Speaker 4: the answers to the greatest economy and history.

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Speaker 2: He's still going right now. Jonathan keisl is a US

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Speaker 2: correspondent with US. Jonathan, Welcome to the show.

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Speaker 13: Ryan, Good afternoon, and good afternoon to all the listeners

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Speaker 13: across News Talk.

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Speaker 2: How's the speech going.

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Speaker 13: Yeah, we'll probably what an hour and a half into

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Speaker 13: it now, and he's still going. This is the American

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Speaker 13: President doing what he loves to do best, and that

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Speaker 13: is talk on television in prime time. This is normally

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Speaker 13: called a State of the Union address in a year

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Speaker 13: when there's an inauguration, it's not. It's referred to as

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Speaker 13: an address to Congress. Largely, so far, it's been focused

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Speaker 13: on domestic issues. He's talked about immigration, he's talked about

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Speaker 13: issues at the border. He's talked about reducing gang crime.

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Speaker 13: He's talked about targeting Mexican cartels. He's spoken about those

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Speaker 13: tariffs that you mentioned earlier and said that the reciprocal

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Speaker 13: tariffs that he had planned will come into effect on

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Speaker 13: April two. We've just heard him in the last sixty

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Speaker 13: seconds announced plans for what he's calling a Golden Dome

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Speaker 13: that is essentially what he says would be a state

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Speaker 13: of the art missile defense system to protect the United

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Speaker 13: States of America. So, after some what are we out

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Speaker 13: now eighteen minutes, I think now he is now shifting

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Speaker 13: into sort of some sort of foreign policy domestic security realm.

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Speaker 13: So it's taken him some time to get there. There's

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Speaker 13: going to be a significant amount of attention to what

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Speaker 13: he says about Ukraine, given the bust up he had

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Speaker 13: with Voladimir Lenski in the Oval Office on Friday US

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Speaker 13: time Saturday in New Zealand time and plenty more about

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Speaker 13: what is going to happen with the state of that

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Speaker 13: mineral'still what is going to happen with the state of

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Speaker 13: his plan to push for peace between Ukraine and Russia.

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Speaker 13: So there's still a little bit more on this to

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Speaker 13: one fold from the American President, but so far he's

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Speaker 13: largely had a very much domestic front in front of

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Speaker 13: a domestic audience inside the Capitol Building in Washington, DC.

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Speaker 2: Jonathan on the trade war, has he mentioned anything about

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Speaker 2: the stock market's reaction so far because he doesn't like

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Speaker 2: it when the markets go down, right.

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Speaker 13: Well, he's arguably more in astute watcher of the stock

434
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Speaker 13: markets in America than any American president before him. Remember

435
00:22:09,600 --> 00:22:11,880
Speaker 13: when he first announced that tariffs were going to come in,

436
00:22:12,320 --> 00:22:15,679
Speaker 13: the stock markets plummeted and with ours. He halted his

437
00:22:15,800 --> 00:22:17,560
Speaker 13: call and said, no, let's him pause on this for

438
00:22:17,600 --> 00:22:19,880
Speaker 13: a month and wait and see. So now that month

439
00:22:19,920 --> 00:22:22,720
Speaker 13: has effectively come in and we've seen the tariffs coming.

440
00:22:22,760 --> 00:22:25,760
Speaker 13: There's been no mention of the stock market, unsurprisingly from

441
00:22:25,800 --> 00:22:28,200
Speaker 13: the American President tonight, but a lot of talk still

442
00:22:28,600 --> 00:22:32,320
Speaker 13: about tariffs. He says, essentially, the tariffs are a way forward,

443
00:22:32,400 --> 00:22:35,480
Speaker 13: that tariffs will have an impact. He says that there

444
00:22:35,560 --> 00:22:39,639
Speaker 13: is going to be a little bit of discomfort, So

445
00:22:39,720 --> 00:22:42,520
Speaker 13: that's sort of paraphrasing him a little bit to come

446
00:22:42,600 --> 00:22:45,840
Speaker 13: before he says that America will grow. He's talking about

447
00:22:45,840 --> 00:22:48,960
Speaker 13: wanting to see car manufacturers come back to the United

448
00:22:49,000 --> 00:22:51,680
Speaker 13: States of America and to make cars. But at the moment,

449
00:22:52,000 --> 00:22:54,959
Speaker 13: the way the tariff system works is that there are

450
00:22:55,000 --> 00:22:58,000
Speaker 13: parts coming from all over the place. Essentially, things go

451
00:22:58,080 --> 00:23:00,640
Speaker 13: back and forward across borders multiple time, and if these

452
00:23:00,680 --> 00:23:03,600
Speaker 13: tariffs are imposed, well then ultimately that's going to make

453
00:23:04,040 --> 00:23:06,880
Speaker 13: making that car more expensive, and that's going to make

454
00:23:06,920 --> 00:23:09,920
Speaker 13: it more expensive for the consumer too. We did hear

455
00:23:09,960 --> 00:23:13,360
Speaker 13: from his Commerce Secretary, Howard Lutnik earlier today who suggested

456
00:23:13,440 --> 00:23:16,480
Speaker 13: there might be some sort of compromise from the president

457
00:23:16,560 --> 00:23:19,439
Speaker 13: to come tomorrow. So will there be, Well, let's just

458
00:23:19,520 --> 00:23:23,399
Speaker 13: wait and see, because everybody other than those closest to

459
00:23:23,400 --> 00:23:26,920
Speaker 13: the president the President himself, are essentially saying a trade

460
00:23:26,920 --> 00:23:29,360
Speaker 13: war is not good for the United States of America,

461
00:23:29,440 --> 00:23:31,919
Speaker 13: it's not good for the global economy, and it's not

462
00:23:31,960 --> 00:23:35,080
Speaker 13: good for the American consumers who voted Donald Trump in

463
00:23:35,119 --> 00:23:39,040
Speaker 13: who are still dealing with domestic issues, on higher prices

464
00:23:39,040 --> 00:23:44,080
Speaker 13: on everyday goods, including you know, basic supplies such as eggs.

465
00:23:44,200 --> 00:23:46,800
Speaker 2: Yeah, well, which have shot through the roof, haven't they? Jonathan,

466
00:23:46,800 --> 00:23:49,879
Speaker 2: thank you for that hard to get an omelet. Jonathan Kearsley,

467
00:23:49,880 --> 00:23:52,240
Speaker 2: a US correspondent with US Time, as seventeen away from

468
00:23:52,280 --> 00:23:55,160
Speaker 2: five Brian Bridge. So Trump will just bring you some

469
00:23:55,160 --> 00:23:57,800
Speaker 2: more from his speech to Congress. As Jonathan said, he

470
00:23:57,840 --> 00:24:01,080
Speaker 2: is still going, but there was a lot of to

471
00:24:01,119 --> 00:24:03,440
Speaker 2: be honest with you, when I was watching this this afternoon,

472
00:24:03,480 --> 00:24:08,320
Speaker 2: I thought, man, that is a sign of how divided

473
00:24:08,680 --> 00:24:11,600
Speaker 2: the United the supposedly United States of America are. Have

474
00:24:11,600 --> 00:24:13,639
Speaker 2: a listened to some of the reaction to the speech,

475
00:24:13,680 --> 00:24:15,480
Speaker 2: and then some of the reaction to the reaction.

476
00:24:15,600 --> 00:24:32,919
Speaker 4: By big numbers and one counties in our country and

477
00:24:33,040 --> 00:24:37,560
Speaker 4: one counties in our country in two thousand, seven hundred.

478
00:24:38,160 --> 00:24:39,719
Speaker 2: To five twenty five.

479
00:24:41,400 --> 00:24:46,760
Speaker 14: What a map that reads almost completely read for Republican.

480
00:24:48,080 --> 00:24:51,200
Speaker 2: Yeah, it sounds a little more like a Serbian parliament,

481
00:24:51,200 --> 00:24:53,199
Speaker 2: to be honest with you, not the United States of

482
00:24:53,240 --> 00:24:56,360
Speaker 2: America that we know and love. Sixteen minutes away from

483
00:24:56,359 --> 00:24:58,040
Speaker 2: five on news talks, there'd be I'll tell you what

484
00:24:58,080 --> 00:25:00,200
Speaker 2: the Reserve Bank has just called a press conference after

485
00:25:00,200 --> 00:25:03,640
Speaker 2: five o'clock. We'll have more on that shortly. Plus Bury soapernext.

486
00:25:03,200 --> 00:25:07,000
Speaker 1: Politics was centric credit, check your customers and get payments certainty.

487
00:25:07,200 --> 00:25:09,720
Speaker 2: Thirteen away from five news talks. He'd be very Soper,

488
00:25:09,800 --> 00:25:13,440
Speaker 2: senior political correspondent with us. Very good afternoon, Good afternoon, right,

489
00:25:13,640 --> 00:25:15,840
Speaker 2: So Adrian Or is off see you later.

490
00:25:16,200 --> 00:25:19,960
Speaker 15: Yeah, Well, the chair of the board, Neil Quigley, he'll

491
00:25:20,000 --> 00:25:22,920
Speaker 15: be holding a news conference at five o'clock, so it'll

492
00:25:22,920 --> 00:25:24,960
Speaker 15: be interesting to see what he's got to say. But

493
00:25:25,480 --> 00:25:29,480
Speaker 15: I would imagine it'll be a diplomatic affair that they

494
00:25:29,520 --> 00:25:32,760
Speaker 15: won't say that Adrian Or was asked to walk, or

495
00:25:32,800 --> 00:25:36,280
Speaker 15: whether he did it of his own volition. I think

496
00:25:36,320 --> 00:25:38,280
Speaker 15: we'll just have to keep guessing on that one. But

497
00:25:38,680 --> 00:25:42,840
Speaker 15: there's no doubt when you remember when he was reappointed

498
00:25:42,880 --> 00:25:46,199
Speaker 15: to the job by Grant Robertson in twenty twenty two,

499
00:25:46,240 --> 00:25:49,159
Speaker 15: it was a year out from the election, and in

500
00:25:49,240 --> 00:25:53,639
Speaker 15: the past twenty seventeen comes to mind, there was a

501
00:25:53,760 --> 00:25:58,200
Speaker 15: change of governor six months. Well, in fact, they delayed

502
00:25:58,240 --> 00:26:02,600
Speaker 15: the change for six months because the new government really

503
00:26:02,640 --> 00:26:06,120
Speaker 15: should be in the position of making decisions itself when

504
00:26:06,119 --> 00:26:08,280
Speaker 15: it comes to the Governor and Grant Robertson, you'd have

505
00:26:08,359 --> 00:26:13,600
Speaker 15: to say, was this final bird to the the national

506
00:26:13,600 --> 00:26:17,320
Speaker 15: government because they were totally opposed to it. And when

507
00:26:17,359 --> 00:26:20,280
Speaker 15: you look at Adrian or you know, the some would

508
00:26:20,280 --> 00:26:23,399
Speaker 15: say the damage he did to the economy. He used

509
00:26:23,440 --> 00:26:28,200
Speaker 15: the OCR a bit like a firing squad aimed at

510
00:26:28,240 --> 00:26:31,920
Speaker 15: the economy, and you know, it sucked so much money

511
00:26:31,960 --> 00:26:36,440
Speaker 15: out of it. The mortgage mortgage rates went through the roof.

512
00:26:36,640 --> 00:26:40,159
Speaker 15: They've now come back, and maybe he's thought, well, Okay,

513
00:26:40,200 --> 00:26:43,520
Speaker 15: I leave in a pretty good situation where see, I.

514
00:26:43,440 --> 00:26:46,160
Speaker 2: Think that's what I reckon. He's got a new job,

515
00:26:46,359 --> 00:26:48,520
Speaker 2: he's been looking for the past year for a new job,

516
00:26:48,600 --> 00:26:50,600
Speaker 2: and he's been waiting for the right time to get out,

517
00:26:50,640 --> 00:26:52,879
Speaker 2: and he's just lowered the rates, done a bit of

518
00:26:52,880 --> 00:26:55,439
Speaker 2: a victory lap, and he's worried, well, who knows what

519
00:26:55,440 --> 00:26:58,360
Speaker 2: Trump's going to do to inflation. He's probably thinking, right

520
00:26:58,359 --> 00:26:59,720
Speaker 2: now is the right time to get out of here?

521
00:26:59,800 --> 00:27:02,720
Speaker 15: Right right time to go? Yeah, I think you're probably

522
00:27:02,760 --> 00:27:03,120
Speaker 15: right there.

523
00:27:03,320 --> 00:27:05,440
Speaker 2: Michael Riddell on the program after five, by the way,

524
00:27:05,440 --> 00:27:07,360
Speaker 2: he's the former economist at the Reserve Bank, will ask

525
00:27:07,440 --> 00:27:10,280
Speaker 2: him what he thinks now Peters has said the inter

526
00:27:10,400 --> 00:27:13,040
Speaker 2: islander contract fee where he said this on our show

527
00:27:13,080 --> 00:27:15,720
Speaker 2: last night, actually as well, but won't be three hundred

528
00:27:15,760 --> 00:27:17,120
Speaker 2: million dollars a less than that.

529
00:27:17,720 --> 00:27:20,880
Speaker 15: Now, what that says to me is that Winston's been

530
00:27:20,920 --> 00:27:26,080
Speaker 15: talking to Harandaiho, the negotiating with South Korea. He saw

531
00:27:26,200 --> 00:27:30,120
Speaker 15: them last week. So you know, I think you may

532
00:27:30,200 --> 00:27:33,919
Speaker 15: see that Hyanda will end up with a contract to

533
00:27:34,000 --> 00:27:38,399
Speaker 15: build these fairies, so that would not negate the break

534
00:27:38,440 --> 00:27:40,919
Speaker 15: fee because it was worth a lot of money. But

535
00:27:41,240 --> 00:27:44,280
Speaker 15: it was interesting to me the exchange in the house

536
00:27:44,320 --> 00:27:48,760
Speaker 15: today because you know, Winston essentially pulled the rug from

537
00:27:48,800 --> 00:27:54,520
Speaker 15: beneath Nikola Willis when he essentially appointed himself as Minister

538
00:27:54,560 --> 00:27:57,080
Speaker 15: of Raoul, saying I can come up with a better deal.

539
00:27:57,080 --> 00:27:59,160
Speaker 15: And like you and I've said on this program, Ryan

540
00:27:59,520 --> 00:28:02,680
Speaker 15: will never really know the truth of that, because nobody's

541
00:28:02,760 --> 00:28:05,800
Speaker 15: going to disagree with him when a figure comes out.

542
00:28:05,880 --> 00:28:10,840
Speaker 15: But Nikola Willis, she was seething when facing questions from

543
00:28:10,920 --> 00:28:15,440
Speaker 15: Labour's finance spokeswoman Barbara Edmunds over the original fairy deal

544
00:28:15,560 --> 00:28:17,040
Speaker 15: nutted out by the Labor government.

545
00:28:17,280 --> 00:28:21,080
Speaker 16: The biggest dog of an infrastructure project, New Zealand has

546
00:28:21,160 --> 00:28:25,679
Speaker 16: seen in many years that blew out members from seven

547
00:28:25,760 --> 00:28:30,520
Speaker 16: hundred and fifty million dollars to four billion dollars in climbing.

548
00:28:30,840 --> 00:28:33,720
Speaker 17: Does she agree with the Minister for Rail who said

549
00:28:33,760 --> 00:28:36,680
Speaker 17: the break fee quote costs US way less than three

550
00:28:36,760 --> 00:28:38,160
Speaker 17: hundred million unquote?

551
00:28:38,360 --> 00:28:40,479
Speaker 18: I find it as wise to agree with the Minister

552
00:28:40,560 --> 00:28:40,920
Speaker 18: of Rail.

553
00:28:41,160 --> 00:28:45,000
Speaker 19: They're on on Winston Peters, as the finnouncement say confident

554
00:28:45,120 --> 00:28:47,480
Speaker 19: that when this is all resolved, the savings to the

555
00:28:47,480 --> 00:28:50,880
Speaker 19: New Zealand taxpayer, based on Treasury's latst and prediction, will

556
00:28:50,880 --> 00:28:53,560
Speaker 19: be in excess of two billion dollars.

557
00:28:53,880 --> 00:28:56,680
Speaker 18: Oh well, mister speaker, I'm delighted to hear that the

558
00:28:56,720 --> 00:28:59,720
Speaker 18: Minister for Rail has these letters in hands.

559
00:29:01,200 --> 00:29:04,440
Speaker 17: Does she agree with the Minister for Rail that Treasury's

560
00:29:04,480 --> 00:29:08,160
Speaker 17: prediction this will save two billion dollars? Can she confirm that?

561
00:29:08,600 --> 00:29:10,760
Speaker 18: I find it's always wise to agree this minister.

562
00:29:10,520 --> 00:29:12,920
Speaker 2: For our Ah.

563
00:29:13,160 --> 00:29:16,959
Speaker 15: You notice the tension between I think Nikola Willis and

564
00:29:17,000 --> 00:29:17,960
Speaker 15: Winston Peters.

565
00:29:18,040 --> 00:29:20,880
Speaker 2: That's interesting because he's revealing a number he shouldn't have there. Yes,

566
00:29:21,400 --> 00:29:23,280
Speaker 2: so if we run the quick sums on that, so

567
00:29:23,440 --> 00:29:25,120
Speaker 2: four billion dollars is what it was going to cost

568
00:29:25,160 --> 00:29:28,920
Speaker 2: us for the fairies and climbing and climbing and for

569
00:29:28,960 --> 00:29:31,480
Speaker 2: and the landside infrastructure. So if you're saving two billion,

570
00:29:31,560 --> 00:29:34,040
Speaker 2: that means we can get our landside infrastructure and our

571
00:29:34,080 --> 00:29:36,840
Speaker 2: fairies plus the break feed for less than two billion.

572
00:29:36,960 --> 00:29:39,520
Speaker 15: Well you know the point that Winston Peter's made, and

573
00:29:39,520 --> 00:29:41,960
Speaker 15: I've heard him on air today is saying it that

574
00:29:42,040 --> 00:29:45,360
Speaker 15: he said the fairies initially when he was part of

575
00:29:45,400 --> 00:29:48,560
Speaker 15: the coalition government were to buy the two fairies were

576
00:29:48,560 --> 00:29:49,760
Speaker 15: four hundred million dollars.

577
00:29:49,800 --> 00:29:53,840
Speaker 2: Yeah, so crazy. God, Yeah, it is all right, very fantastic.

578
00:29:54,040 --> 00:29:55,800
Speaker 2: And Richard Preeble, you've got any thoughts on this, We've

579
00:29:55,800 --> 00:29:57,560
Speaker 2: got him on the show after five point thirty tonight

580
00:29:57,600 --> 00:29:58,280
Speaker 2: to pick his brain.

581
00:29:58,960 --> 00:29:59,200
Speaker 12: Yeah.

582
00:29:59,280 --> 00:30:02,720
Speaker 15: Well look, some would say it's a stunt, certainly in

583
00:30:02,760 --> 00:30:06,240
Speaker 15: the House today. Not surprisingly, the decision to resign from

584
00:30:06,280 --> 00:30:09,840
Speaker 15: the Tribunal was seen by Willie Jackson from Labor as

585
00:30:09,880 --> 00:30:10,360
Speaker 15: a stunt.

586
00:30:11,200 --> 00:30:15,400
Speaker 20: They resignation by Prebles just another shameful, bad faith political

587
00:30:15,440 --> 00:30:19,360
Speaker 20: stunt designed to cause racial baiting, the visiveness.

588
00:30:19,480 --> 00:30:20,760
Speaker 21: The stunt smells as.

589
00:30:20,600 --> 00:30:23,240
Speaker 20: Bad as ex school lunches, and as a waste of

590
00:30:23,280 --> 00:30:26,440
Speaker 20: time to undermine that this Parliament's important work.

591
00:30:26,840 --> 00:30:27,360
Speaker 22: There you go.

592
00:30:29,240 --> 00:30:31,720
Speaker 2: Well, he said it all the King of stunts himself.

593
00:30:31,800 --> 00:30:33,160
Speaker 15: Yes, exactly, yeah.

594
00:30:33,160 --> 00:30:36,120
Speaker 2: Verry, thank you very safe for senior political correspondent here

595
00:30:36,160 --> 00:30:39,120
Speaker 2: on news talks. Here'd b it's eight minutes away from five.

596
00:30:39,160 --> 00:30:41,360
Speaker 2: Don't forget Tom McKay, the Trade Minister on the trade

597
00:30:41,480 --> 00:30:44,280
Speaker 2: war after five o'clock, putting.

598
00:30:44,040 --> 00:30:48,240
Speaker 1: The time questions to the newspeakers the mic asking breakfast news.

599
00:30:48,040 --> 00:30:50,680
Speaker 2: On our belaegued ferry service. Administer in chargeable of this is,

600
00:30:50,680 --> 00:30:52,400
Speaker 2: of course, Winston petersays.

601
00:30:51,880 --> 00:30:53,640
Speaker 23: Three targets. We're going to be able to announce boo

602
00:30:53,720 --> 00:30:55,920
Speaker 23: in the game lovely pendending for on what they cost

603
00:30:55,920 --> 00:30:56,680
Speaker 23: will be okay.

604
00:30:56,720 --> 00:30:58,560
Speaker 24: And is that a timeline to get us the new

605
00:30:58,640 --> 00:31:01,360
Speaker 24: ships by the twenty nine target when the other ones

606
00:31:01,400 --> 00:31:01,920
Speaker 24: fall apart.

607
00:31:01,960 --> 00:31:02,760
Speaker 21: That's definitely yes.

608
00:31:02,800 --> 00:31:04,840
Speaker 23: It's appalling that I've had to deal with because these

609
00:31:04,880 --> 00:31:06,960
Speaker 23: other aspects too were shout to do with the ferry,

610
00:31:07,000 --> 00:31:09,240
Speaker 23: but all too with a shocking decision. We started off

611
00:31:09,280 --> 00:31:11,400
Speaker 23: in May of twenty twenty when I was a minister

612
00:31:11,520 --> 00:31:15,320
Speaker 23: then ordering two ferries for four hundred and one billion.

613
00:31:15,440 --> 00:31:17,240
Speaker 23: That's way less than half a burd and I come

614
00:31:17,280 --> 00:31:20,240
Speaker 23: back to Fine and they're heading towards over four billion.

615
00:31:20,240 --> 00:31:21,080
Speaker 21: We had to stop it.

616
00:31:21,480 --> 00:31:22,840
Speaker 2: Back tomorrow at six am.

617
00:31:22,920 --> 00:31:25,040
Speaker 25: The mic asking Breakfast with the Rain drove of the

618
00:31:25,080 --> 00:31:26,320
Speaker 25: LAS News Talk SEB.

619
00:31:26,680 --> 00:31:29,280
Speaker 2: Five to five on Newstalk SETB. You know Trump was

620
00:31:29,320 --> 00:31:33,640
Speaker 2: threatened to take over Panama. Well, Hong Kong, a Hong

621
00:31:33,720 --> 00:31:36,240
Speaker 2: Kong firm has agreed to sell a big steak in

622
00:31:36,320 --> 00:31:39,200
Speaker 2: a Panama port, actually a couple of them, to an

623
00:31:39,240 --> 00:31:43,040
Speaker 2: American firm. Ninety percent of the interest in Panama Ports

624
00:31:43,080 --> 00:31:45,640
Speaker 2: Company is going to be sold. This is for the

625
00:31:45,680 --> 00:31:48,880
Speaker 2: ports of Balboa and Crystal Bell until twenty forty seven.

626
00:31:48,880 --> 00:31:51,960
Speaker 2: They've got a contract to run them. This means more

627
00:31:52,480 --> 00:31:56,520
Speaker 2: US interests, it means more US control. It is an

628
00:31:56,520 --> 00:31:58,920
Speaker 2: area that Trump has been looking at and is obviously

629
00:31:59,000 --> 00:32:02,520
Speaker 2: very interested in. He's also adjusted to Congress. Apparently he's

630
00:32:02,520 --> 00:32:04,960
Speaker 2: saying something else about Greenland.

631
00:32:05,560 --> 00:32:09,240
Speaker 4: Also have a message tonight for the incredible people of Greenland.

632
00:32:11,400 --> 00:32:14,840
Speaker 4: We strongly support your right to determine your own future,

633
00:32:16,000 --> 00:32:18,600
Speaker 4: and if you choose, we welcome you into the United

634
00:32:18,600 --> 00:32:23,040
Speaker 4: States of America. We need Greenland for national security and

635
00:32:23,080 --> 00:32:27,120
Speaker 4: even international security, and we're working with everybody involved to

636
00:32:27,160 --> 00:32:29,360
Speaker 4: try and get it. But we need it really for

637
00:32:29,520 --> 00:32:33,880
Speaker 4: international world security and I think we're going to get.

638
00:32:33,760 --> 00:32:35,240
Speaker 22: It one way or the other.

639
00:32:35,320 --> 00:32:36,160
Speaker 6: We're going to get.

640
00:32:36,000 --> 00:32:39,440
Speaker 2: It like it's a packet of chip from the sleepermarket.

641
00:32:42,200 --> 00:32:46,240
Speaker 2: Three away from five, Todd McClay, Trade Minister, Live Mixed.

642
00:32:47,560 --> 00:32:48,600
Speaker 1: Sabity and.

643
00:32:50,240 --> 00:32:55,240
Speaker 26: Just meet Cati Parney King.

644
00:32:55,840 --> 00:32:59,120
Speaker 27: We've been breaking in if you know that mean, but

645
00:33:03,280 --> 00:33:06,920
Speaker 27: we do break if you know, put some.

646
00:33:10,600 --> 00:33:11,840
Speaker 1: We do break in.

647
00:33:12,080 --> 00:33:16,760
Speaker 19: If you know all abo put some Masony.

648
00:33:18,920 --> 00:33:24,400
Speaker 1: Questions, answers, facts, analysis, the drive show you trust for

649
00:33:24,440 --> 00:33:28,000
Speaker 1: the full picture. Brian Bridge on Hither duplessy Ellen Drive

650
00:33:28,240 --> 00:33:31,440
Speaker 1: with one New Zealand let's get connected. News talks.

651
00:33:31,480 --> 00:33:34,000
Speaker 2: It'd be good evening seven after five news talks, they'd

652
00:33:34,040 --> 00:33:37,320
Speaker 2: be Trump's trade war is on China, Canada, Mexico. They're

653
00:33:37,360 --> 00:33:40,640
Speaker 2: all retaliating. The President's been addressed in Congress. He says

654
00:33:40,800 --> 00:33:41,560
Speaker 2: is more to come.

655
00:33:41,800 --> 00:33:45,880
Speaker 4: So the tariffs will go on agricultural product coming into

656
00:33:45,920 --> 00:33:49,920
Speaker 4: America and our our farmers starting on April second. It

657
00:33:50,040 --> 00:33:53,280
Speaker 4: may be a little bit of an adjustment period. We

658
00:33:53,360 --> 00:33:55,440
Speaker 4: had that before when I made the deal with China

659
00:33:55,600 --> 00:33:58,520
Speaker 4: fifty billion dollars of purchases, and I said just bear

660
00:33:58,560 --> 00:33:59,480
Speaker 4: with me, and they did.

661
00:34:00,160 --> 00:34:02,400
Speaker 2: You can say that again can we save a providers

662
00:34:02,400 --> 00:34:04,800
Speaker 2: here and warning tough times ahead. As you can imagine,

663
00:34:04,800 --> 00:34:07,480
Speaker 2: markets have been hugely volatile. The big question, of course

664
00:34:07,560 --> 00:34:10,000
Speaker 2: is how long is this going to last? Tom mcclay's,

665
00:34:10,000 --> 00:34:12,560
Speaker 2: the Minister of Trade is with us. Good evening, Minister.

666
00:34:13,080 --> 00:34:14,279
Speaker 11: Ryan, Hey, how are you good?

667
00:34:14,320 --> 00:34:17,080
Speaker 2: Thank you? How have you got any numbers yet or

668
00:34:17,120 --> 00:34:20,560
Speaker 2: any any information from officials on modeling on how this

669
00:34:20,680 --> 00:34:22,000
Speaker 2: might impact New Zealand.

670
00:34:22,400 --> 00:34:24,680
Speaker 11: Well, from the point of view of the tariffs that

671
00:34:24,719 --> 00:34:28,680
Speaker 11: are the US as opposed on Canada, Mexico and China

672
00:34:29,239 --> 00:34:32,040
Speaker 11: and the retality ones which they're talking about haven't released yet. No,

673
00:34:32,200 --> 00:34:34,280
Speaker 11: we don't get a picture of that. And the reason

674
00:34:34,320 --> 00:34:37,480
Speaker 11: for that is although we're not directly affected in this

675
00:34:37,719 --> 00:34:40,680
Speaker 11: latest round of tariffs, there is going to be some

676
00:34:40,719 --> 00:34:43,720
Speaker 11: flow on effect, either because of confidence of those markets

677
00:34:43,760 --> 00:34:46,719
Speaker 11: where consumers and businesses don't buy as much though as

678
00:34:46,719 --> 00:34:49,239
Speaker 11: we trade with, or secondly as a result of New

679
00:34:49,320 --> 00:34:52,279
Speaker 11: Zealand companies that may have a presence there Mexico as

680
00:34:52,320 --> 00:34:56,160
Speaker 11: an example, with Fisher and Pichel who will be directly affected.

681
00:34:56,280 --> 00:34:58,520
Speaker 11: So asked officials to work that up. But until we

682
00:34:58,600 --> 00:35:00,920
Speaker 11: see more detail it is a little bit hard to

683
00:35:00,960 --> 00:35:03,880
Speaker 11: know it would be a bit of second guessing. But

684
00:35:04,000 --> 00:35:06,560
Speaker 11: I can tell you we're taking this very seriously. And

685
00:35:06,600 --> 00:35:08,880
Speaker 11: as I said on your show a couple of weeks ago,

686
00:35:09,200 --> 00:35:15,680
Speaker 11: we instructed officials and our embassy in Washington to be

687
00:35:15,760 --> 00:35:19,799
Speaker 11: engaged proactively with US administration and reminding them of making

688
00:35:19,840 --> 00:35:22,319
Speaker 11: the case of how well our trading relationship is and

689
00:35:22,360 --> 00:35:24,640
Speaker 11: how balanced it is. They continue to do that, but

690
00:35:24,760 --> 00:35:27,840
Speaker 11: we're it's going to see exactly what President Trump is

691
00:35:27,840 --> 00:35:29,520
Speaker 11: talking about when it comes to agriculture.

692
00:35:29,719 --> 00:35:33,080
Speaker 2: Yeah, that is the big worry. We had the Meat

693
00:35:33,080 --> 00:35:35,920
Speaker 2: Industry Association. We had Nathan Guy on the show last night.

694
00:35:35,960 --> 00:35:38,360
Speaker 2: He said he's really worried about the agricultural tariffs is

695
00:35:38,400 --> 00:35:40,479
Speaker 2: talking about because that's I mean, that's our bread and butter.

696
00:35:41,360 --> 00:35:43,799
Speaker 11: Yeah, it's very important to us, all right. So if

697
00:35:44,080 --> 00:35:48,240
Speaker 11: tariff is put on all exports to the US, whilst

698
00:35:48,280 --> 00:35:51,120
Speaker 11: we will remain competitive against others, it's just a cost

699
00:35:51,200 --> 00:35:54,160
Speaker 11: to the New Zealand export. It's a tax or a

700
00:35:54,200 --> 00:35:57,719
Speaker 11: tariff at the border. There's more to this, though than

701
00:35:57,880 --> 00:36:01,080
Speaker 11: just the tweet or the announcement the other night from

702
00:36:01,120 --> 00:36:03,480
Speaker 11: the President. If you think about beef as an example,

703
00:36:03,520 --> 00:36:06,719
Speaker 11: New Zealand beef is an important market for US. Predominantly

704
00:36:06,760 --> 00:36:08,840
Speaker 11: it's mixed with the US beef, and we have a

705
00:36:08,880 --> 00:36:11,279
Speaker 11: lot of beef fat that goes up for their hamburgers.

706
00:36:11,280 --> 00:36:12,759
Speaker 11: We know that they need to bring that in for

707
00:36:12,840 --> 00:36:15,279
Speaker 11: the amount of hamburger they eat. If there is a

708
00:36:15,360 --> 00:36:17,640
Speaker 11: tariff or it can't come in from overseas, are either

709
00:36:17,680 --> 00:36:20,080
Speaker 11: going to have shortages or those prices go up. And

710
00:36:20,120 --> 00:36:22,480
Speaker 11: I think that's why you've seen, you know, the market

711
00:36:22,840 --> 00:36:25,359
Speaker 11: in the US and elsewhere in the world take quite

712
00:36:25,360 --> 00:36:28,040
Speaker 11: a hit over the last day or two. What we

713
00:36:28,080 --> 00:36:31,080
Speaker 11: don't know is whether he's talking about all agricultural products

714
00:36:31,080 --> 00:36:33,840
Speaker 11: and everybody or some from some parts of the world

715
00:36:34,239 --> 00:36:38,360
Speaker 11: exactly what. But our people are engaging most informations they can.

716
00:36:38,239 --> 00:36:40,560
Speaker 2: And are they listening to what we're saying? You know,

717
00:36:40,920 --> 00:36:43,080
Speaker 2: the argument about the balanced trade is a good one,

718
00:36:43,080 --> 00:36:45,160
Speaker 2: but are they listening to it? About the beef and

719
00:36:45,200 --> 00:36:47,000
Speaker 2: the meat paddies is a good one, but are they

720
00:36:47,040 --> 00:36:48,399
Speaker 2: listening Well.

721
00:36:48,760 --> 00:36:51,279
Speaker 11: I think at the level of the officials and those

722
00:36:51,320 --> 00:36:54,200
Speaker 11: who engage with we have a good hearing and there's

723
00:36:54,280 --> 00:36:58,839
Speaker 11: very good and constructive conversations on going. But I think

724
00:36:58,880 --> 00:37:01,080
Speaker 11: that you look at the the you know, the social

725
00:37:01,160 --> 00:37:03,359
Speaker 11: media the other night, as the President said that he's

726
00:37:03,400 --> 00:37:06,160
Speaker 11: focusing on agriculture next and we'll see what that means.

727
00:37:06,480 --> 00:37:09,879
Speaker 11: But there's a there's a second part of this. If

728
00:37:09,920 --> 00:37:14,560
Speaker 11: we take both Canada and also China as examples, they

729
00:37:14,880 --> 00:37:17,480
Speaker 11: are both important beef from the US. The US has

730
00:37:17,520 --> 00:37:20,319
Speaker 11: slapped terrafs on them that said they're going to reciprocate.

731
00:37:20,360 --> 00:37:23,560
Speaker 11: So in the case of China, they will still need

732
00:37:23,600 --> 00:37:25,319
Speaker 11: the beef that they are bringing from the rest of

733
00:37:25,320 --> 00:37:27,880
Speaker 11: the world from the US on the you know, the

734
00:37:27,920 --> 00:37:32,040
Speaker 11: restaurant tabor of the supermarket shelves, they their consumers are

735
00:37:32,080 --> 00:37:35,640
Speaker 11: likely to look out where and so some opportunities for

736
00:37:35,800 --> 00:37:37,880
Speaker 11: New Zealand hugely, which.

737
00:37:37,680 --> 00:37:40,239
Speaker 2: Is hugely ironic, right, because we've been trying to diversify

738
00:37:40,280 --> 00:37:43,960
Speaker 2: away from China and we diversified towards America. It's now

739
00:37:44,000 --> 00:37:47,239
Speaker 2: our second largest trading partner for goods and now we've

740
00:37:47,239 --> 00:37:49,480
Speaker 2: been hit with these potentially being hit with these terrorists.

741
00:37:49,520 --> 00:37:50,160
Speaker 2: It's ironic.

742
00:37:50,239 --> 00:37:52,400
Speaker 11: Yeah, that's that's right. The other the other case that

743
00:37:52,440 --> 00:37:55,440
Speaker 11: we have been making will continue to is actually in

744
00:37:55,480 --> 00:37:58,359
Speaker 11: the zeal And exporters into the US market predominantly face

745
00:37:58,440 --> 00:38:03,120
Speaker 11: greater teriff rates, higher to refrates than US exports into

746
00:38:03,200 --> 00:38:04,960
Speaker 11: New Zealand, and the reason for that is we have

747
00:38:05,000 --> 00:38:08,440
Speaker 11: a very tow low towerff phrasing. I've asked my officials

748
00:38:08,440 --> 00:38:12,040
Speaker 11: to go through line by line and fight everywhere there

749
00:38:12,080 --> 00:38:14,560
Speaker 11: is a discrepancy where our tower rate might be higher

750
00:38:14,560 --> 00:38:16,440
Speaker 11: than there. So we have a clear understanding of that.

751
00:38:16,800 --> 00:38:19,560
Speaker 11: So far much of that there are no imports from

752
00:38:19,560 --> 00:38:23,080
Speaker 11: the US down to New Zealand. But we're working through

753
00:38:23,120 --> 00:38:25,879
Speaker 11: that so that we can be in a better place

754
00:38:25,880 --> 00:38:26,759
Speaker 11: to know what we need to do.

755
00:38:26,880 --> 00:38:28,399
Speaker 2: All right, Minister, thank you very much for your time.

756
00:38:28,440 --> 00:38:30,600
Speaker 2: Tom McLay the Minister Trade in the midst of a

757
00:38:30,640 --> 00:38:34,439
Speaker 2: trade war. Twelve minutes after five, Adrian Or has gone

758
00:38:34,520 --> 00:38:37,360
Speaker 2: from the Reserve Bank. Last day will be March thirty first.

759
00:38:37,400 --> 00:38:39,880
Speaker 2: From April first, the Finance Minister is going to appoint

760
00:38:39,880 --> 00:38:41,759
Speaker 2: somebody on a temporary basis up to six months.

761
00:38:41,840 --> 00:38:41,960
Speaker 22: Now.

762
00:38:42,000 --> 00:38:46,000
Speaker 2: The Reserve Bank Board Chair Neil Quiggly has just given

763
00:38:46,040 --> 00:38:47,920
Speaker 2: a media stand up. Have a listen.

764
00:38:48,239 --> 00:38:52,560
Speaker 28: I have confidence in Adrian. Yes, he and I have

765
00:38:52,719 --> 00:38:56,400
Speaker 28: been through a lot in my time as for chair

766
00:38:56,400 --> 00:38:57,720
Speaker 28: and his time as governor.

767
00:38:58,280 --> 00:39:00,759
Speaker 2: Three years left on his term. Question is why now

768
00:39:01,160 --> 00:39:04,680
Speaker 2: Michael Riddell's former Reserve Bank economist Michael good evening to you,

769
00:39:05,280 --> 00:39:07,520
Speaker 2: Good Evening, What do you think he's why now? Do

770
00:39:07,600 --> 00:39:08,239
Speaker 2: you think.

771
00:39:09,520 --> 00:39:12,719
Speaker 12: It's really extraordinary? I don't think anyone has a compelling explanation.

772
00:39:13,000 --> 00:39:14,879
Speaker 12: I mean, if it was just that he studied, done

773
00:39:14,920 --> 00:39:17,239
Speaker 12: the job and he was getting tired, you give three

774
00:39:17,280 --> 00:39:19,080
Speaker 12: months notice and you say, look, I'll go after the

775
00:39:19,160 --> 00:39:22,080
Speaker 12: nitary policy statement. Instead he's out today. We've got an

776
00:39:22,080 --> 00:39:25,320
Speaker 12: acting governor filling in and they say a proper temporary

777
00:39:25,320 --> 00:39:29,800
Speaker 12: one from the first of April. There have been suggestions

778
00:39:29,800 --> 00:39:32,160
Speaker 12: that maybe there's some sort of behavioral issues, although those

779
00:39:32,200 --> 00:39:35,640
Speaker 12: comments from Real quickly cast out on that the Finance

780
00:39:35,680 --> 00:39:37,680
Speaker 12: Minister last week was suggesting the budget was going to

781
00:39:37,680 --> 00:39:40,719
Speaker 12: be cut. But I mean every public sector CEO Welmington's

782
00:39:41,200 --> 00:39:43,319
Speaker 12: had to live with budget cuts, so you know, we

783
00:39:43,400 --> 00:39:46,640
Speaker 12: just haven't got adequate explanations and frankly it's not good

784
00:39:46,719 --> 00:39:50,480
Speaker 12: enough from either Quickly or the minister or Adrian himself,

785
00:39:50,560 --> 00:39:51,560
Speaker 12: powerful public figure.

786
00:39:51,640 --> 00:39:52,839
Speaker 2: Do you think he's got a new job?

787
00:39:53,560 --> 00:39:55,000
Speaker 12: No, I don't. I mean I think if that was

788
00:39:55,120 --> 00:39:58,240
Speaker 12: the case, they would have indicated it quite clearly. Twenty

789
00:39:58,239 --> 00:40:01,920
Speaker 12: five years Don Brash resigned to politics. He was opening

790
00:40:02,000 --> 00:40:04,280
Speaker 12: upfront about that. He was out within the hour. Everyone

791
00:40:04,360 --> 00:40:06,839
Speaker 12: understood the reasons why it's got to be something more

792
00:40:06,880 --> 00:40:09,520
Speaker 12: than that. Maybe he is really just exhausted, but you

793
00:40:09,560 --> 00:40:12,359
Speaker 12: still don't just walk out on the same day, on

794
00:40:12,400 --> 00:40:14,960
Speaker 12: the eve of a really big conference they're hosting tomorrow.

795
00:40:15,080 --> 00:40:18,200
Speaker 12: They've got Ben Bnanke speaking at it. The governor may

796
00:40:18,239 --> 00:40:18,879
Speaker 12: not even be there.

797
00:40:19,640 --> 00:40:22,360
Speaker 2: Michael, thank you for that. Michael Riddell, former Reserve Bank economists.

798
00:40:22,360 --> 00:40:26,000
Speaker 2: Time is thirteen minutes after five Ryan. Fascinating, isn't it?

799
00:40:26,080 --> 00:40:28,359
Speaker 2: Nine two nine two the number to text. Everybody's got

800
00:40:28,360 --> 00:40:30,400
Speaker 2: a theory, you can imagine when it comes to Adrian

801
00:40:30,560 --> 00:40:34,000
Speaker 2: or really interesting stuff coming out today from Richard Preble

802
00:40:34,080 --> 00:40:37,200
Speaker 2: why he's resigned from the White Tangy Tribunal. And he

803
00:40:37,239 --> 00:40:40,839
Speaker 2: says it's to do with the manifesto that he calls socialists.

804
00:40:41,000 --> 00:40:43,920
Speaker 2: This is the directive on how they know their doctrine,

805
00:40:43,960 --> 00:40:46,560
Speaker 2: on how they run themselves. He says, it's a socialist manifesto.

806
00:40:46,640 --> 00:40:48,160
Speaker 2: He's on the show after five thirty, so they will

807
00:40:48,160 --> 00:40:50,759
Speaker 2: ask him about that. And you know those astronauts that

808
00:40:50,840 --> 00:40:54,680
Speaker 2: went to space, the Butch Wilma and Sonny Williams. And

809
00:40:54,719 --> 00:40:57,239
Speaker 2: they were meant to be there for a week and

810
00:40:57,320 --> 00:41:01,200
Speaker 2: they have now been there for almost a year because

811
00:41:01,200 --> 00:41:03,520
Speaker 2: something broke down, there was some kind of issue. What

812
00:41:03,640 --> 00:41:05,839
Speaker 2: turns out they're coming home. It's a Houston, We're coming

813
00:41:05,880 --> 00:41:08,680
Speaker 2: home moment for them, stuck up there for far too

814
00:41:08,719 --> 00:41:12,360
Speaker 2: long since June last year, it was, and they're coming home.

815
00:41:12,520 --> 00:41:15,120
Speaker 2: Next week their replacements will arrive and then a month

816
00:41:15,160 --> 00:41:16,920
Speaker 2: after that they're allowed to come home. So they'll be

817
00:41:17,000 --> 00:41:20,200
Speaker 2: very happy with that, as you can imagine. And replacing them, interestingly,

818
00:41:20,360 --> 00:41:23,640
Speaker 2: is that one Russian and one American astronaut who will

819
00:41:23,640 --> 00:41:25,600
Speaker 2: be up there together. I'm sure getting along like a

820
00:41:25,640 --> 00:41:29,520
Speaker 2: house on fire. Five point fourteen News TALKZB. We all

821
00:41:29,560 --> 00:41:32,400
Speaker 2: want keevy businesses to succeed right well, we should, and

822
00:41:32,480 --> 00:41:36,080
Speaker 2: a healthy economy benefits us all. The ice House Owner

823
00:41:36,120 --> 00:41:39,480
Speaker 2: Manager Program is for owner managers of Kiwi businesses who

824
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825
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826
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Speaker 2: a fuller understanding of business generally, your own business specifically,

827
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828
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Speaker 2: the business. Now. The ice House Leadership Development program is

829
00:41:57,480 --> 00:42:00,200
Speaker 2: for leaders who report to an owner manager and you

830
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831
00:42:03,680 --> 00:42:06,160
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832
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Speaker 2: of these programs take you away from the business for

833
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834
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835
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836
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839
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840
00:42:29,360 --> 00:42:30,840
Speaker 1: Bryan Bridge, you're.

841
00:42:30,680 --> 00:42:33,160
Speaker 2: A news talk c b Auckland put its hand up

842
00:42:33,160 --> 00:42:36,040
Speaker 2: for hosting rights for the thirty eighth America's Cup. Auckland

843
00:42:36,080 --> 00:42:38,040
Speaker 2: Unlimited says it's been talking with them or it's team

844
00:42:38,040 --> 00:42:40,480
Speaker 2: in New Zealand about bringing the race home. Bars Alone

845
00:42:40,560 --> 00:42:43,960
Speaker 2: is also just reported almost two billion dollars in positive

846
00:42:43,960 --> 00:42:46,200
Speaker 2: impact from hosting the game with Mark Orhams as they

847
00:42:46,239 --> 00:42:51,040
Speaker 2: sailing Professor Mark good evening, Ahre there ran, how likely

848
00:42:51,160 --> 00:42:52,560
Speaker 2: is this really? Do you think?

849
00:42:54,160 --> 00:42:54,319
Speaker 22: Well?

850
00:42:54,360 --> 00:42:56,960
Speaker 29: I suppose it's a lot less likely than it was

851
00:42:57,600 --> 00:43:00,000
Speaker 29: a few months ago when it appeared to be dead

852
00:43:00,040 --> 00:43:02,759
Speaker 29: in the water. The opportunity for Auckland to host the

853
00:43:02,760 --> 00:43:07,399
Speaker 29: next America's Cup. So the fact that there's at least

854
00:43:07,920 --> 00:43:10,439
Speaker 29: a chance. From the sailing community perspective, I think there's

855
00:43:10,440 --> 00:43:13,760
Speaker 29: a lot of excitement about the possibility, even if it

856
00:43:13,800 --> 00:43:16,440
Speaker 29: still remains I think in most people's minds a relatively

857
00:43:16,480 --> 00:43:17,200
Speaker 29: remote one.

858
00:43:18,000 --> 00:43:20,359
Speaker 2: Of course, the funding is the biggest you always has been,

859
00:43:20,480 --> 00:43:23,840
Speaker 2: and it'll need central government, it'll need counsel money, it'll

860
00:43:23,840 --> 00:43:27,240
Speaker 2: need private money. And you've got Wayne Brown in Auckland

861
00:43:27,360 --> 00:43:29,680
Speaker 2: saying he needs the bed tax to get this done,

862
00:43:29,719 --> 00:43:31,880
Speaker 2: and then the government's reluctant to do that. I mean,

863
00:43:31,920 --> 00:43:33,160
Speaker 2: how do you think that plays out?

864
00:43:34,320 --> 00:43:36,120
Speaker 29: Yeah, I think you've put your finger on it is

865
00:43:36,160 --> 00:43:39,279
Speaker 29: that it does require significant investment from a range of

866
00:43:39,280 --> 00:43:42,279
Speaker 29: partners who've all got to come together and say we

867
00:43:42,360 --> 00:43:46,560
Speaker 29: think collectively this is worth doing. And while there's a

868
00:43:46,560 --> 00:43:49,160
Speaker 29: pretty impressive number that's come out of the study from

869
00:43:49,239 --> 00:43:52,920
Speaker 29: the hosting in Barcelona, I think many people, including myself,

870
00:43:53,880 --> 00:43:57,279
Speaker 29: see those sorts of numbers with some sort of skepticism.

871
00:43:57,760 --> 00:44:00,560
Speaker 29: You can often calculate multiplier effects and so on to

872
00:44:00,560 --> 00:44:04,560
Speaker 29: tell the story that you want to. So what really

873
00:44:04,600 --> 00:44:11,440
Speaker 29: needs to be considered here in the potential of government

874
00:44:11,800 --> 00:44:14,600
Speaker 29: and in the end taxpayer rate payer money going into

875
00:44:14,640 --> 00:44:16,960
Speaker 29: support an event like this, is what is the return

876
00:44:17,000 --> 00:44:20,600
Speaker 29: on that investment and can we be confident that it's

877
00:44:20,680 --> 00:44:24,440
Speaker 29: worth the investment for the greater good of New Zealand

878
00:44:24,840 --> 00:44:26,880
Speaker 29: and Auckland more specifically.

879
00:44:26,320 --> 00:44:28,680
Speaker 2: Yeah, good point, Mark, And can we be confident in

880
00:44:28,719 --> 00:44:32,239
Speaker 2: the actual assessments that are done to determine that as well? Mark?

881
00:44:32,280 --> 00:44:34,600
Speaker 2: Thank you. Mark Orham's sailing professor with us on the

882
00:44:34,600 --> 00:44:37,719
Speaker 2: prospects of the America's Cup returning to New Zealand twenty

883
00:44:37,719 --> 00:44:41,359
Speaker 2: after five Tariffs, So, we had a lot of talk

884
00:44:41,360 --> 00:44:43,640
Speaker 2: about tariffs today. They're not good for the world. They're

885
00:44:43,640 --> 00:44:45,200
Speaker 2: not good for New Zealand. I mean, we are a

886
00:44:45,239 --> 00:44:48,719
Speaker 2: small trading nation. We don't like taris. Unfortunately we have

887
00:44:48,760 --> 00:44:51,319
Speaker 2: a president in the US he loves them. I was

888
00:44:51,360 --> 00:44:55,600
Speaker 2: listening to an auto industry executive this morning. Lots of

889
00:44:55,600 --> 00:44:58,520
Speaker 2: a cars are obviously assembled in the United States, right,

890
00:44:58,960 --> 00:45:02,200
Speaker 2: but the parts are imported from all over the shop.

891
00:45:02,400 --> 00:45:05,240
Speaker 2: Parts are imported from Canada, parts are imported from Mexico.

892
00:45:05,800 --> 00:45:10,319
Speaker 2: And he gave the example of one piston in one car, right,

893
00:45:11,160 --> 00:45:16,000
Speaker 2: it crosses the border six times. This one piston from

894
00:45:16,000 --> 00:45:18,719
Speaker 2: when it was raw aluminium to ending up in the

895
00:45:18,760 --> 00:45:23,360
Speaker 2: car six times. That's six times tariffs. So big questions

896
00:45:23,360 --> 00:45:25,239
Speaker 2: I've been saying this afternoon is how long does this

897
00:45:25,239 --> 00:45:28,920
Speaker 2: thing last? Do you reorganize your entire business and your

898
00:45:29,040 --> 00:45:33,160
Speaker 2: entire industry around these tariffs or do you bank on

899
00:45:33,200 --> 00:45:35,759
Speaker 2: them hopefully disappearing soon. It's a very hard thing to

900
00:45:36,800 --> 00:45:39,040
Speaker 2: weigh up as a business leader. Twenty one minutes after

901
00:45:39,040 --> 00:45:41,160
Speaker 2: five news Talks said, but don't forget. We've got Richard

902
00:45:41,200 --> 00:45:41,960
Speaker 2: Prebble after the.

903
00:45:41,920 --> 00:45:47,400
Speaker 1: News getting the facts, discarding the fluff. It's Ryan Bridge

904
00:45:47,440 --> 00:45:51,759
Speaker 1: on Heather Duplicellen Drive with one New Zealand let's get

905
00:45:51,800 --> 00:45:53,080
Speaker 1: connected news talks.

906
00:45:53,080 --> 00:45:57,480
Speaker 2: That'd be five twenty four. Remember those stupid protesters in

907
00:45:57,520 --> 00:46:00,200
Speaker 2: Wellington who the ones who glued their hands to the

908
00:46:00,280 --> 00:46:05,560
Speaker 2: roads and they sailed down from the motorways. They ab

909
00:46:05,640 --> 00:46:08,560
Speaker 2: sailed down into the Mount Victoria tunnel and they were

910
00:46:09,280 --> 00:46:13,120
Speaker 2: protesting about rail or climate change or I don't even

911
00:46:13,200 --> 00:46:16,120
Speaker 2: care what they were protesting about, right, they were just annoying.

912
00:46:16,480 --> 00:46:20,560
Speaker 2: They did this and held up traffic, not just people

913
00:46:20,600 --> 00:46:24,160
Speaker 2: commuting to work, but cancer patients who were going for treatment.

914
00:46:24,600 --> 00:46:27,200
Speaker 2: You know, ambulances who were trying to get to the hospital,

915
00:46:27,239 --> 00:46:30,000
Speaker 2: trying to get people into the hospital. So I don't

916
00:46:30,000 --> 00:46:32,719
Speaker 2: really have a lot of time for these types of people. Anyway,

917
00:46:33,239 --> 00:46:35,520
Speaker 2: part of the group that was responsible for some of

918
00:46:35,520 --> 00:46:39,239
Speaker 2: this action, they are finally making their way through the

919
00:46:39,280 --> 00:46:42,440
Speaker 2: court and Wellington and of course they've opted for a

920
00:46:42,480 --> 00:46:47,560
Speaker 2: trial by jury and in defense led evidence. According to

921
00:46:47,880 --> 00:46:51,640
Speaker 2: a Radio New Zealand report about this, the climate expert

922
00:46:52,000 --> 00:46:57,200
Speaker 2: and Victoria University professor James Renwick gave evidence that if

923
00:46:57,239 --> 00:47:01,399
Speaker 2: carbon emissions continued on the current trajectory, the consequences would

924
00:47:01,400 --> 00:47:06,719
Speaker 2: be devastating. This evidence went on for ages. He even

925
00:47:06,760 --> 00:47:11,040
Speaker 2: brought cyclone Gabrielle into it, and there was no cross

926
00:47:11,080 --> 00:47:14,279
Speaker 2: examination from the prosecution on this, which I thought was

927
00:47:14,320 --> 00:47:18,680
Speaker 2: slightly unusual, unless why would you not want to cross

928
00:47:18,680 --> 00:47:23,520
Speaker 2: examine that evidence? Presumably because it's not relevant. The charge

929
00:47:23,560 --> 00:47:27,440
Speaker 2: that these guys are up on is endangering transport. What

930
00:47:27,520 --> 00:47:30,960
Speaker 2: does climate change have to do with that? Ryan Bridge

931
00:47:31,080 --> 00:47:34,120
Speaker 2: twenty six minutes after five. Everyone scratching their heads in

932
00:47:34,160 --> 00:47:36,560
Speaker 2: Wellington right now and going what's up with Adrian or

933
00:47:36,960 --> 00:47:39,920
Speaker 2: I hope, I really hope that he is not unwell

934
00:47:40,120 --> 00:47:42,800
Speaker 2: and that that's the reason that he has to resign today.

935
00:47:42,880 --> 00:47:46,120
Speaker 2: And it's all happened very quickly. No one is giving

936
00:47:46,200 --> 00:47:49,200
Speaker 2: anything away. If he had another job, surely they would

937
00:47:49,239 --> 00:47:51,759
Speaker 2: just tell us. Here's more from that press conference with

938
00:47:51,800 --> 00:47:54,560
Speaker 2: Neil Quigley. He's from the border of the Reserve Bank.

939
00:47:54,840 --> 00:47:58,680
Speaker 28: Critique is the norm in politics, as it is for

940
00:47:59,440 --> 00:48:04,319
Speaker 28: Reserve Bank governors. So the relationship with the minister has

941
00:48:04,400 --> 00:48:05,160
Speaker 28: been constructive.

942
00:48:06,200 --> 00:48:09,880
Speaker 2: Okay, constructive relationship with the minister. Still no clearer on

943
00:48:10,000 --> 00:48:12,520
Speaker 2: exactly what's going on then. By the way Nichola Willis's

944
00:48:12,600 --> 00:48:18,960
Speaker 2: statement today her press release, Minister acknowledges outgoing RBNZ governor

945
00:48:19,200 --> 00:48:22,719
Speaker 2: and there was one line one, two, three, four, five

946
00:48:22,840 --> 00:48:26,520
Speaker 2: six seven words from Nikola Willis, I wish him well

947
00:48:26,719 --> 00:48:30,239
Speaker 2: for the future twenty seven after five Richard Preble.

948
00:48:30,000 --> 00:48:32,520
Speaker 30: Necks, it's no major.

949
00:48:34,040 --> 00:48:35,200
Speaker 27: Cause your man.

950
00:48:42,040 --> 00:48:45,600
Speaker 31: To sid good about you for a gaming.

951
00:48:47,160 --> 00:48:49,840
Speaker 30: Heather, after all this time.

952
00:48:51,280 --> 00:48:54,160
Speaker 1: Putting the challenging questions to the people. At the heart

953
00:48:54,239 --> 00:48:57,319
Speaker 1: of the story, it's Ryan bridge on hither duper see

954
00:48:57,360 --> 00:49:01,319
Speaker 1: Ellen drive with one New Zealand, let's get connected and

955
00:49:01,360 --> 00:49:02,200
Speaker 1: news talks b.

956
00:49:03,680 --> 00:49:07,360
Speaker 26: To the way that deals when you mean and kiss

957
00:49:07,440 --> 00:49:11,320
Speaker 26: me the way that you dares When you get gm.

958
00:49:11,239 --> 00:49:15,759
Speaker 2: C twenty five minutes away from six News Talks MB,

959
00:49:16,080 --> 00:49:19,600
Speaker 2: we're going to speak to Gareth Kernan informtric's chief forecast

960
00:49:19,600 --> 00:49:23,080
Speaker 2: after six o'clock tonight. Lots of volatility on the market,

961
00:49:23,200 --> 00:49:25,440
Speaker 2: So how long does that last for? And how did

962
00:49:25,440 --> 00:49:28,480
Speaker 2: they not see the tariffs coming? I mean Trump's talked

963
00:49:28,480 --> 00:49:30,759
Speaker 2: about it since the election campaign. They obviously just didn't

964
00:49:30,760 --> 00:49:32,560
Speaker 2: think he was going to follow through with it. So

965
00:49:32,840 --> 00:49:34,520
Speaker 2: what does that mean? How does it play out for

966
00:49:34,520 --> 00:49:36,960
Speaker 2: the markets? We'll ask him later on. Also the huddle

967
00:49:37,000 --> 00:49:40,040
Speaker 2: standing by Tim Wilson and Rob Campbell right now it

968
00:49:40,120 --> 00:49:43,120
Speaker 2: is twenty five to six. Ryan Bridge in the Days

969
00:49:43,280 --> 00:49:46,920
Speaker 2: of Resignations that Richard Prebble has stood down from the

970
00:49:46,960 --> 00:49:50,200
Speaker 2: White Tongue Tribunal. He says the Tribunal has turned the

971
00:49:50,200 --> 00:49:53,560
Speaker 2: treaty into a socialist manifesto and he wants no part

972
00:49:53,600 --> 00:49:56,120
Speaker 2: of it. Richard Prebble is the former AT Party leader,

973
00:49:56,480 --> 00:50:00,000
Speaker 2: now former White Tongue Tribunal member and Labor MP. Good evening,

974
00:50:01,040 --> 00:50:03,879
Speaker 2: Good Evening. I had a range of texts on this

975
00:50:03,880 --> 00:50:07,919
Speaker 2: this afternoon, some people saying what did you expect going

976
00:50:07,960 --> 00:50:10,719
Speaker 2: into this? Because you've only been there since October. Did

977
00:50:10,760 --> 00:50:12,879
Speaker 2: you not realize this is what it would be like there?

978
00:50:16,320 --> 00:50:23,239
Speaker 21: That's a reasonable question. I've been following the Tribunal for

979
00:50:24,160 --> 00:50:31,080
Speaker 21: fifty years and reading it's various decisions, but I have

980
00:50:31,200 --> 00:50:36,440
Speaker 21: to confess that I had not appreciated that the Tribunal

981
00:50:36,480 --> 00:50:41,080
Speaker 21: ten years ago basically said it wasn't bound to follow

982
00:50:41,120 --> 00:50:44,759
Speaker 21: its previous rulings that I'd been reading and had decided

983
00:50:44,840 --> 00:50:47,680
Speaker 21: that actually there wasn't one treaty, that there was two,

984
00:50:48,520 --> 00:50:58,160
Speaker 21: and it basically turned the treaty on its head. The

985
00:50:58,200 --> 00:51:01,640
Speaker 21: second thing that I don't know if I really appreciate it,

986
00:51:01,680 --> 00:51:03,839
Speaker 21: but the effect of it turning it on its head

987
00:51:04,480 --> 00:51:08,840
Speaker 21: has turned the Tribunal into the body that creates grievances

988
00:51:08,920 --> 00:51:12,440
Speaker 21: rather than solving them. One of their rulings is that

989
00:51:13,600 --> 00:51:18,560
Speaker 21: for those who Article three of the treating basically made

990
00:51:19,320 --> 00:51:25,440
Speaker 21: everyone British citizens, that Tribournal has ruled that the citizen

991
00:51:25,560 --> 00:51:30,520
Speaker 21: clause means that the government must make everyone equal. Well,

992
00:51:32,080 --> 00:51:34,960
Speaker 21: I'm no government anywhere in the world have ever managed

993
00:51:34,960 --> 00:51:37,839
Speaker 21: to do that. Our governments can fry.

994
00:51:38,000 --> 00:51:38,160
Speaker 14: But.

995
00:51:39,800 --> 00:51:42,400
Speaker 21: People will never be equal. You give people opportunities, some

996
00:51:42,520 --> 00:51:46,640
Speaker 21: take them, some don't, But then to say that the

997
00:51:46,719 --> 00:51:50,440
Speaker 21: fact that we're not equal is a breach of the

998
00:51:50,520 --> 00:51:55,680
Speaker 21: treating means you can bring bring claims basically against the

999
00:51:55,719 --> 00:51:58,920
Speaker 21: government for every single government program there is. And then

1000
00:51:59,040 --> 00:52:03,359
Speaker 21: looking at the strategic plan, which no, I couldn't look

1001
00:52:03,400 --> 00:52:06,080
Speaker 21: at before I was a member of the tribunal intact.

1002
00:52:06,080 --> 00:52:10,239
Speaker 21: I only got it myself a couple of weeks ago.

1003
00:52:10,400 --> 00:52:12,839
Speaker 21: When I looked at that strategic plan, I saw that

1004
00:52:12,920 --> 00:52:20,080
Speaker 21: the tribunalists forecasting a huge increase in claims and it's workload.

1005
00:52:20,239 --> 00:52:23,200
Speaker 21: And again it seems to me the tribunals turned its

1006
00:52:23,520 --> 00:52:26,239
Speaker 21: function on its head. And I was part of the

1007
00:52:26,280 --> 00:52:30,120
Speaker 21: Parliament that helped extend the tribunal and the purpose of

1008
00:52:30,160 --> 00:52:35,520
Speaker 21: the tribunal was to resolve grievances, not to create them.

1009
00:52:35,960 --> 00:52:39,719
Speaker 2: You're talking about economic equality, right, that's what they are

1010
00:52:39,760 --> 00:52:42,520
Speaker 2: striving for. And you've said that you know it's socialist

1011
00:52:42,600 --> 00:52:45,480
Speaker 2: to think that we that we should all be equal

1012
00:52:45,680 --> 00:52:46,840
Speaker 2: on an economic footing.

1013
00:52:47,840 --> 00:52:51,319
Speaker 21: Well, I mean, I've done my best as a as

1014
00:52:51,320 --> 00:52:55,240
Speaker 21: a minister to actually tried to reduce inequalities in New Zealand.

1015
00:52:55,239 --> 00:53:01,000
Speaker 21: But I've never been silly enough to believe that society

1016
00:53:01,040 --> 00:53:03,920
Speaker 21: will ever be equal you give people opportunities, and some

1017
00:53:03,960 --> 00:53:07,160
Speaker 21: people take them and others don't. That's just the that's

1018
00:53:08,520 --> 00:53:13,080
Speaker 21: that's a fact of life everywhere, except apparently on the Tribunal,

1019
00:53:13,120 --> 00:53:18,000
Speaker 21: which now now says that the treaty, as they've interpreted,

1020
00:53:18,640 --> 00:53:20,719
Speaker 21: means that the government has a duty to make sure

1021
00:53:20,719 --> 00:53:24,319
Speaker 21: that everyone's equal. Well, I hate to break it to them,

1022
00:53:24,400 --> 00:53:27,320
Speaker 21: but no government, I mean, even if a mara party

1023
00:53:27,320 --> 00:53:31,520
Speaker 21: got into office, God help us, they couldn't do it.

1024
00:53:32,200 --> 00:53:35,600
Speaker 21: What no one's done it, No communist, no communist government

1025
00:53:36,040 --> 00:53:38,799
Speaker 21: anywhere in the world has managed to achieve it. And

1026
00:53:38,880 --> 00:53:42,960
Speaker 21: to suddenly say a treaty which is only three claus

1027
00:53:43,040 --> 00:53:48,360
Speaker 21: as long, which basically says the ground sovereign, the property

1028
00:53:48,440 --> 00:53:50,680
Speaker 21: rights are to be predicted, and that we're all citizens,

1029
00:53:51,239 --> 00:53:54,640
Speaker 21: is now being interpreted, as I say, into it as

1030
00:53:54,680 --> 00:53:59,560
Speaker 21: a socialist manifesto. And there's been a lot of criticism

1031
00:53:59,600 --> 00:54:04,120
Speaker 21: of David Seymour for suggesting the principles of the treaty.

1032
00:54:04,160 --> 00:54:09,160
Speaker 21: But the Tribunals actually invented the most of these so

1033
00:54:09,239 --> 00:54:13,759
Speaker 21: called principles, but just not to be found either in

1034
00:54:13,800 --> 00:54:18,640
Speaker 21: the English or the or the married text. And much

1035
00:54:18,640 --> 00:54:22,360
Speaker 21: as some people obviously would love the treaties to have

1036
00:54:22,400 --> 00:54:26,279
Speaker 21: said these things, they weren't said in eighteen forty and

1037
00:54:26,320 --> 00:54:27,319
Speaker 21: you can't say them now.

1038
00:54:29,800 --> 00:54:32,840
Speaker 2: What is the point of you mentioned in your column

1039
00:54:32,920 --> 00:54:36,480
Speaker 2: for the Herald today, the fact that the tribunal can

1040
00:54:36,520 --> 00:54:39,040
Speaker 2: make rulings and the government can just ignore them anyway.

1041
00:54:39,080 --> 00:54:42,760
Speaker 2: It doesn't, it doesn't really matter. It's now going against

1042
00:54:42,760 --> 00:54:45,239
Speaker 2: some of the rulings that it has self itself has

1043
00:54:45,280 --> 00:54:48,400
Speaker 2: made in the past. I mean, what is the point here.

1044
00:54:50,719 --> 00:54:51,960
Speaker 21: You mean point of the tribunal?

1045
00:54:52,080 --> 00:54:54,080
Speaker 2: Yeah, yeah, what should it be?

1046
00:54:55,640 --> 00:55:01,120
Speaker 21: Oh? No, the normal way that legal bodies actors, they

1047
00:55:01,160 --> 00:55:05,640
Speaker 21: have great respects for previous, previous rulings because that leads

1048
00:55:05,680 --> 00:55:08,759
Speaker 21: to stability. But when you suddenly have a tribunal that

1049
00:55:08,880 --> 00:55:12,319
Speaker 21: announces that it doesn't have to take any notice of

1050
00:55:12,360 --> 00:55:15,960
Speaker 21: the courts, it's not taking any notice of Parliament, and

1051
00:55:15,960 --> 00:55:18,680
Speaker 21: then says it doesn't have to take notice of forty

1052
00:55:18,880 --> 00:55:23,840
Speaker 21: years on rulings by previous tribunals, and that it can

1053
00:55:24,719 --> 00:55:29,120
Speaker 21: suddenly say that there are two treaties, that the treaties

1054
00:55:29,160 --> 00:55:32,359
Speaker 21: aren't and aren't translations of each other. I mean, that'll

1055
00:55:32,400 --> 00:55:34,880
Speaker 21: come a great surprise to the people who translated it.

1056
00:55:36,280 --> 00:55:39,280
Speaker 21: And it's a rewriting of It's a rewriting of history.

1057
00:55:40,280 --> 00:55:44,279
Speaker 21: And I know historians do reinterpret history, but one thing

1058
00:55:44,320 --> 00:55:47,200
Speaker 21: you can't do, you can invent facts.

1059
00:55:49,120 --> 00:55:51,120
Speaker 2: Thanks very much for your time. I'm Richard. I'll just

1060
00:55:51,120 --> 00:55:53,480
Speaker 2: find him before you go. Willie Jackson said, this is

1061
00:55:53,480 --> 00:55:58,080
Speaker 2: a stunt. This is a stunt. A stunt, yes, stunt.

1062
00:55:59,520 --> 00:56:00,320
Speaker 21: By who, by me?

1063
00:56:00,520 --> 00:56:00,840
Speaker 4: By you?

1064
00:56:01,000 --> 00:56:01,800
Speaker 2: Yeah, resigning.

1065
00:56:04,920 --> 00:56:08,359
Speaker 21: Well, that's an interesting way of putting it. I put

1066
00:56:08,360 --> 00:56:13,080
Speaker 21: a lot of thought before I decided that I that

1067
00:56:13,160 --> 00:56:15,960
Speaker 21: I would resign. I mean, I might a confession to you.

1068
00:56:16,040 --> 00:56:19,319
Speaker 21: I'm now seventy seven, and I thought to myself, am

1069
00:56:19,320 --> 00:56:21,520
Speaker 21: I going to sit on this tribunal as a lone

1070
00:56:21,560 --> 00:56:27,279
Speaker 21: voice saying this is lenacy with no one listening to me? No,

1071
00:56:27,360 --> 00:56:30,720
Speaker 21: I'm not. I don't agree with what is what is happening,

1072
00:56:31,400 --> 00:56:33,799
Speaker 21: and I think I've got a duty to resign, and

1073
00:56:34,600 --> 00:56:37,920
Speaker 21: I've got a duty to tell people why I've resigned.

1074
00:56:38,280 --> 00:56:40,319
Speaker 21: I don't particularly want to be in the news, but

1075
00:56:40,760 --> 00:56:43,120
Speaker 21: you're entitled to not fair enough.

1076
00:56:43,200 --> 00:56:46,000
Speaker 2: In other words, you're too old for this. You're over

1077
00:56:46,040 --> 00:56:51,160
Speaker 2: at Richard. Thanks for your time this evening. Really appreciate it.

1078
00:56:51,320 --> 00:56:53,719
Speaker 2: Richard Preeble, who's no longer a member of the White

1079
00:56:53,719 --> 00:56:56,799
Speaker 2: Thingy Tribunal seventeen to six The Huddle with.

1080
00:56:56,920 --> 00:57:00,560
Speaker 1: New Zealand Southeby's International Realty Find your Oh God.

1081
00:57:01,239 --> 00:57:04,400
Speaker 2: Tim Wilson, CEO of the Maximum Institute. Good evening, Tim.

1082
00:57:05,800 --> 00:57:06,120
Speaker 29: Cura.

1083
00:57:06,200 --> 00:57:07,960
Speaker 25: I hope it's not too triggering for me to say that.

1084
00:57:09,000 --> 00:57:11,359
Speaker 2: No, I know we are in good company here, Rob

1085
00:57:11,400 --> 00:57:13,680
Speaker 2: Campbell at Chancellor in former healthy and z and shares

1086
00:57:13,719 --> 00:57:16,040
Speaker 2: with us too. Hey, Rob, good evening to you, Kilder.

1087
00:57:16,720 --> 00:57:18,000
Speaker 22: Good curra good ah mate.

1088
00:57:18,400 --> 00:57:20,680
Speaker 2: What did you make of what Richard Preoble had to

1089
00:57:20,720 --> 00:57:21,160
Speaker 2: say there?

1090
00:57:21,280 --> 00:57:25,920
Speaker 25: Tim, Yeah, it's you know, when an organization is starting

1091
00:57:25,960 --> 00:57:29,440
Speaker 25: to repudiate what are the rulings that it made from

1092
00:57:29,480 --> 00:57:31,480
Speaker 25: ten years ago and turning its back on forty years,

1093
00:57:31,480 --> 00:57:34,120
Speaker 25: I think there's an identity issue with that organization. So

1094
00:57:34,200 --> 00:57:36,600
Speaker 25: that critique sort of resonated for me.

1095
00:57:37,320 --> 00:57:38,120
Speaker 2: What about you, Rob?

1096
00:57:39,440 --> 00:57:42,560
Speaker 22: Well? Our understanding about these issues has evolved over the

1097
00:57:42,680 --> 00:57:46,680
Speaker 22: last fifty years, and the fact that Richard hasn't probably

1098
00:57:46,800 --> 00:57:48,840
Speaker 22: means he did the right thing by residing.

1099
00:57:49,160 --> 00:57:52,760
Speaker 2: One of the bigg It was a serf from you, Rob.

1100
00:57:53,920 --> 00:57:55,760
Speaker 2: One of the big issues that he talks about is

1101
00:57:56,200 --> 00:57:58,600
Speaker 2: Maori seeding sovereignty in the fact that none of the

1102
00:57:58,720 --> 00:58:02,400
Speaker 2: chiefs in their correspondent's post signing the treaty thought that

1103
00:58:02,640 --> 00:58:06,400
Speaker 2: they had done anything other than seed sovereignty. So how

1104
00:58:06,480 --> 00:58:08,320
Speaker 2: did we get to the point where we're now saying,

1105
00:58:08,400 --> 00:58:11,320
Speaker 2: and the tribunal itself is saying, actually, Mardin never seedd

1106
00:58:11,400 --> 00:58:12,000
Speaker 2: sovereignty to.

1107
00:58:13,680 --> 00:58:16,680
Speaker 25: Yeah, and look, I've spoken with his historians who said

1108
00:58:16,680 --> 00:58:19,560
Speaker 25: that Maria at the time were very clear on what

1109
00:58:19,720 --> 00:58:23,640
Speaker 25: they were succeeding to gain, and there was a there

1110
00:58:23,760 --> 00:58:27,000
Speaker 25: was a discussion of it at Kohi Murama like ten

1111
00:58:27,120 --> 00:58:29,800
Speaker 25: years later, and this Saysue didn't come up. So I

1112
00:58:29,920 --> 00:58:34,120
Speaker 25: find I find this this trope. Yeah, it's it's confusing

1113
00:58:34,200 --> 00:58:34,360
Speaker 25: to me.

1114
00:58:35,720 --> 00:58:37,200
Speaker 2: All Right, guys, we're going to take up a quick

1115
00:58:37,200 --> 00:58:39,440
Speaker 2: break here on the Huddle. We're going to come back

1116
00:58:39,480 --> 00:58:41,120
Speaker 2: and talk about Adrian or I want to get your

1117
00:58:41,200 --> 00:58:44,160
Speaker 2: takes on what you think is going on here. Rob,

1118
00:58:44,240 --> 00:58:47,440
Speaker 2: You've obviously had your fair share of experience with high

1119
00:58:47,520 --> 00:58:51,280
Speaker 2: profile public sector partings, so I'd like to get your

1120
00:58:51,320 --> 00:58:53,000
Speaker 2: take on what you think might be going on here.

1121
00:58:53,040 --> 00:58:55,360
Speaker 2: The Huddle returns next the.

1122
00:58:55,440 --> 00:58:59,000
Speaker 1: Huddle with New Zealand Southeby's International Realty the ones with

1123
00:58:59,160 --> 00:58:59,640
Speaker 1: Local and.

1124
00:59:00,360 --> 00:59:03,080
Speaker 2: Reach thirteen to sex, Tim Wilson and Rob Campbell with

1125
00:59:03,160 --> 00:59:06,880
Speaker 2: me tonight. So Adrian AWR Is gone. Question is why

1126
00:59:07,400 --> 00:59:09,919
Speaker 2: now he's still got three years more than three years

1127
00:59:09,960 --> 00:59:14,080
Speaker 2: to run on his contract. Seems very odd timing, Rob,

1128
00:59:14,160 --> 00:59:14,960
Speaker 2: What do you make of this?

1129
00:59:16,440 --> 00:59:18,160
Speaker 22: Well, I don't know what deal he did. In fact,

1130
00:59:18,240 --> 00:59:21,480
Speaker 22: I'm completely unburdened by any inside information on this, so

1131
00:59:21,520 --> 00:59:27,560
Speaker 22: I can speaculate and would guess is this that because

1132
00:59:27,560 --> 00:59:30,520
Speaker 22: Adrian is a bit of a fighter, so he wouldn't

1133
00:59:31,200 --> 00:59:34,080
Speaker 22: naturally just have said, oh you think I should move,

1134
00:59:34,160 --> 00:59:38,440
Speaker 22: I will. So I think this is hard for you

1135
00:59:38,480 --> 00:59:40,920
Speaker 22: to imagine, but I pictured myself as being Nikola willis

1136
00:59:41,040 --> 00:59:44,160
Speaker 22: probably a bit hard for her as well. Anyway, if

1137
00:59:44,240 --> 00:59:46,560
Speaker 22: I was here, I don't like Adrian or I'm not

1138
00:59:46,720 --> 00:59:48,800
Speaker 22: sure how he's going to behave as I go through

1139
00:59:48,880 --> 00:59:51,760
Speaker 22: this next couple of years, and I actually would quite

1140
00:59:51,840 --> 00:59:53,440
Speaker 22: like him to go, but I don't have the powder

1141
00:59:53,560 --> 00:59:55,959
Speaker 22: tell him to go. What I do have the power

1142
00:59:56,000 --> 00:59:59,280
Speaker 22: to do is to talk to the board, and I

1143
00:59:59,520 --> 01:00:03,400
Speaker 22: think of the board started to waver about whether they

1144
01:00:03,440 --> 01:00:06,160
Speaker 22: were supported for Adrian, that would be much harder for

1145
01:00:06,280 --> 01:00:10,360
Speaker 22: him to stay. So here's my speculation, I think the

1146
01:00:10,600 --> 01:00:13,520
Speaker 22: Nats wanted him to go. I think they tooked to

1147
01:00:13,760 --> 01:00:16,520
Speaker 22: people who they feel influential was on the board, and

1148
01:00:16,680 --> 01:00:19,160
Speaker 22: why wouldn't they be influential on the board. They appoint them,

1149
01:00:20,520 --> 01:00:22,680
Speaker 22: and he got a bit of a wobble there and

1150
01:00:22,760 --> 01:00:25,240
Speaker 22: decided it was better to leave discretion the better part of.

1151
01:00:25,320 --> 01:00:29,600
Speaker 2: Valor interesting because I thought initially I thought he's got

1152
01:00:29,600 --> 01:00:31,680
Speaker 2: a new job and we're just waiting to hear about it,

1153
01:00:31,720 --> 01:00:35,480
Speaker 2: and there's some confidentiality thing going on. But maybe because

1154
01:00:35,520 --> 01:00:37,800
Speaker 2: it's interesting you talk about Nicola, Willis not liking him,

1155
01:00:37,800 --> 01:00:40,040
Speaker 2: wanting to get rid of him. Another way to go

1156
01:00:40,120 --> 01:00:42,680
Speaker 2: about that would be to put the squeeze on the finance.

1157
01:00:42,720 --> 01:00:44,960
Speaker 2: And you know the budget's coming, you're sitting you, you're

1158
01:00:44,960 --> 01:00:47,320
Speaker 2: sitting in new appropriations. Maybe you put the squeeze on

1159
01:00:47,440 --> 01:00:49,480
Speaker 2: that way. Maybe he's got wind and he's out before

1160
01:00:49,520 --> 01:00:50,360
Speaker 2: it gets too hard.

1161
01:00:50,440 --> 01:00:54,320
Speaker 25: Tim Yeah, yeah, look, maybe that's and I'm still trying

1162
01:00:54,360 --> 01:00:57,680
Speaker 25: to get the image of Rob Campbell wearing a pants

1163
01:00:57,720 --> 01:00:58,600
Speaker 25: suit out of my head.

1164
01:00:58,920 --> 01:01:07,960
Speaker 32: It's very very pretty, all right, and I know it's

1165
01:01:08,040 --> 01:01:08,920
Speaker 32: clarifying for me.

1166
01:01:09,160 --> 01:01:13,360
Speaker 25: But you raised the issue, and since since we're doing theories.

1167
01:01:13,400 --> 01:01:15,240
Speaker 25: You said, I hope he's all right physically, because this

1168
01:01:15,360 --> 01:01:18,160
Speaker 25: sort of been like this cone of silence around it.

1169
01:01:18,680 --> 01:01:22,160
Speaker 25: And I certainly do hope he's all right. But I think,

1170
01:01:22,400 --> 01:01:24,560
Speaker 25: you know, what was interesting to me was that that's

1171
01:01:24,560 --> 01:01:25,360
Speaker 25: sort of like I've done.

1172
01:01:25,640 --> 01:01:26,200
Speaker 32: You know, I've done.

1173
01:01:26,360 --> 01:01:28,520
Speaker 25: Things are going well, I can go now. But I

1174
01:01:28,600 --> 01:01:31,120
Speaker 25: mean this is someone who a leading economist in twenty

1175
01:01:31,160 --> 01:01:33,920
Speaker 25: twenty one said he overcooked the stimulus by ninety percent.

1176
01:01:34,400 --> 01:01:37,320
Speaker 25: So you know, it's ash Wednesday today. Forgiveness is offered,

1177
01:01:37,360 --> 01:01:39,160
Speaker 25: but a little repentance might be helpful.

1178
01:01:39,440 --> 01:01:39,640
Speaker 27: Yeah.

1179
01:01:40,200 --> 01:01:43,400
Speaker 2: Hey, just finally, recycling bin inspectors are going to be

1180
01:01:43,480 --> 01:01:46,120
Speaker 2: fitted with body cameras. This is to stop them being

1181
01:01:46,200 --> 01:01:49,720
Speaker 2: abused on the job. Now I don't obviously, I don't

1182
01:01:49,760 --> 01:01:52,080
Speaker 2: know one tolerates abuse towards anyone who's just trying to

1183
01:01:52,120 --> 01:01:55,800
Speaker 2: do their job. But there is something I think, rob

1184
01:01:56,000 --> 01:01:58,080
Speaker 2: It's like, it's like if somebody was to put a

1185
01:01:58,160 --> 01:02:00,960
Speaker 2: camera in the toilet, you know, so that's someone going

1186
01:02:01,000 --> 01:02:04,600
Speaker 2: through your rubbish. It is something very personal and unsettling

1187
01:02:04,640 --> 01:02:05,400
Speaker 2: about it, isn't the.

1188
01:02:07,320 --> 01:02:09,200
Speaker 22: Yeah, well, good luck to them sorting out the way

1189
01:02:09,240 --> 01:02:10,000
Speaker 22: I recycle.

1190
01:02:11,760 --> 01:02:15,720
Speaker 2: The least you're honest, well, you'd lose it. You'd be

1191
01:02:15,760 --> 01:02:16,640
Speaker 2: a three strikes guy.

1192
01:02:16,840 --> 01:02:17,200
Speaker 27: Just like that.

1193
01:02:17,320 --> 01:02:17,960
Speaker 2: I reckon.

1194
01:02:19,640 --> 01:02:21,760
Speaker 22: And everyone everyone in the country is going to have

1195
01:02:21,880 --> 01:02:24,080
Speaker 22: to wear a body cam, aren't they? When you go

1196
01:02:24,240 --> 01:02:26,920
Speaker 22: shoving at the server market or wherever you go, We're

1197
01:02:26,920 --> 01:02:28,640
Speaker 22: all going to have to have body cams to prove

1198
01:02:28,680 --> 01:02:32,280
Speaker 22: that we didn't do something and appropriate to someone else. Look,

1199
01:02:32,440 --> 01:02:36,120
Speaker 22: I really don't know about recycling, but in fact most

1200
01:02:36,200 --> 01:02:40,600
Speaker 22: recyclings are fraud anyway. Yeah, so I can't get very

1201
01:02:40,600 --> 01:02:41,320
Speaker 22: excited about it.

1202
01:02:42,200 --> 01:02:44,680
Speaker 25: That's so true. Your fifty seven percent of packaging and

1203
01:02:44,760 --> 01:02:48,720
Speaker 25: recycling is actually not recyclable. It's a different grade of plastic,

1204
01:02:48,840 --> 01:02:52,280
Speaker 25: and of the remaining plastic it's recyclable, forty one percent

1205
01:02:52,320 --> 01:02:54,640
Speaker 25: of that's thrown away by recycling centers because we can't

1206
01:02:54,680 --> 01:02:55,200
Speaker 25: recycle it.

1207
01:02:55,600 --> 01:02:56,439
Speaker 1: It's a waste of time.

1208
01:02:57,120 --> 01:03:02,000
Speaker 22: Great bring on accidentally, as you can recycle body cameras either,

1209
01:03:02,040 --> 01:03:02,880
Speaker 22: they probably quite have.

1210
01:03:03,400 --> 01:03:10,840
Speaker 2: Can you recycle pantsuits? Very good? Tim Wilson and Rob Campbell,

1211
01:03:10,880 --> 01:03:13,200
Speaker 2: thanks for being with us. Guys. Take it easy out

1212
01:03:13,200 --> 01:03:16,520
Speaker 2: there and don't forget not to recycle. Nine to six

1213
01:03:17,640 --> 01:03:17,960
Speaker 2: It's the.

1214
01:03:18,080 --> 01:03:21,760
Speaker 1: Heather Duper c Allen Drive Full Show Podcast on Myhart

1215
01:03:21,840 --> 01:03:23,920
Speaker 1: Radio powered by Newstalks EDB.

1216
01:03:25,200 --> 01:03:27,800
Speaker 2: News Talks VB. It is six minutes away from six

1217
01:03:27,920 --> 01:03:30,440
Speaker 2: So Pack and Save story from the other day, actually

1218
01:03:30,440 --> 01:03:34,160
Speaker 2: it was yesterday. The woman from huangan Nui who pays

1219
01:03:34,240 --> 01:03:37,640
Speaker 2: for her shopping and then she's barred from leaving the

1220
01:03:37,720 --> 01:03:40,800
Speaker 2: store like she's some kind of criminal. And they didn't

1221
01:03:40,840 --> 01:03:42,480
Speaker 2: give her a reason. They just said, you can't leave

1222
01:03:42,520 --> 01:03:45,560
Speaker 2: the store until you give us your name and even

1223
01:03:45,640 --> 01:03:48,200
Speaker 2: your address and your phone number, all these weird details.

1224
01:03:48,480 --> 01:03:50,920
Speaker 2: She spent more than one thousand dollars at the store,

1225
01:03:51,560 --> 01:03:53,640
Speaker 2: but at the time wasn't told well why she wasn't

1226
01:03:53,640 --> 01:03:57,080
Speaker 2: allowed to leave without giving her details. Anyway, now Pack

1227
01:03:57,160 --> 01:03:59,600
Speaker 2: and Save has come forward and said the reason is

1228
01:03:59,720 --> 01:04:04,520
Speaker 2: because if you any business that's registered for GST, you

1229
01:04:04,760 --> 01:04:08,560
Speaker 2: have to keep a record of a customer's details if

1230
01:04:08,560 --> 01:04:10,760
Speaker 2: they're spending more than one thousand dollars in one transaction.

1231
01:04:11,560 --> 01:04:13,600
Speaker 2: Who knew that? Have you ever spent more than a

1232
01:04:13,680 --> 01:04:15,760
Speaker 2: thousand dollars at a business that's GST? We just did,

1233
01:04:15,800 --> 01:04:18,360
Speaker 2: I'm sure you have. Did they write down your name,

1234
01:04:19,560 --> 01:04:24,280
Speaker 2: your contact number, your physical and postal address, your phone number,

1235
01:04:24,320 --> 01:04:26,920
Speaker 2: and your email. It's a lot of information to keep

1236
01:04:26,960 --> 01:04:29,480
Speaker 2: on someone and how often are you spending more than

1237
01:04:29,520 --> 01:04:33,080
Speaker 2: one thousand dollars? I've never personally been asked. I mean,

1238
01:04:33,120 --> 01:04:37,720
Speaker 2: I'm obviously I'm not. I'm not regularly spending one thousand

1239
01:04:37,760 --> 01:04:41,440
Speaker 2: dollars in one transaction at a number of stores, but

1240
01:04:41,600 --> 01:04:44,480
Speaker 2: I'm sure many people are. Nineteen nine two is the

1241
01:04:44,560 --> 01:04:46,360
Speaker 2: number of text have you in business? Have you keep

1242
01:04:46,400 --> 01:04:48,400
Speaker 2: a record of all of that sort of stuff to

1243
01:04:48,480 --> 01:04:50,160
Speaker 2: the people who are texting me, by the way, in

1244
01:04:50,240 --> 01:04:52,680
Speaker 2: the last hour saying there was a very large fire

1245
01:04:52,800 --> 01:04:56,560
Speaker 2: in Papacuda at the industrial estate. Yes, we are aware

1246
01:04:56,560 --> 01:04:58,000
Speaker 2: of that. Our newsroom is being made aware of that

1247
01:04:58,040 --> 01:04:59,960
Speaker 2: as well. Thank you for all of your messages. Apparent

1248
01:05:00,160 --> 01:05:02,880
Speaker 2: it's at a scrapyard. Fine, So we'll keep you up

1249
01:05:02,920 --> 01:05:05,400
Speaker 2: to date with what happens with that. Four minutes away

1250
01:05:05,440 --> 01:05:08,360
Speaker 2: from six on News Talk c B, coming up after

1251
01:05:08,880 --> 01:05:11,160
Speaker 2: the News at six o'clock, we're going to get into

1252
01:05:11,520 --> 01:05:15,880
Speaker 2: what exactly Trump's trade tariff will trade war means for

1253
01:05:16,080 --> 01:05:18,120
Speaker 2: the markets. They've obviously been all over the place today,

1254
01:05:18,160 --> 01:05:20,440
Speaker 2: including here in New Zealand. We'll get the latest on

1255
01:05:20,560 --> 01:05:23,280
Speaker 2: that next day.

1256
01:05:27,400 --> 01:05:30,480
Speaker 27: I can make times up by myself.

1257
01:05:30,360 --> 01:05:31,720
Speaker 30: No bucking.

1258
01:05:33,040 --> 01:05:35,880
Speaker 31: Up the shelf been deeping every weekend.

1259
01:05:36,200 --> 01:05:38,240
Speaker 30: If you go to sell, they've been there.

1260
01:05:38,320 --> 01:05:39,240
Speaker 27: We're making.

1261
01:05:40,680 --> 01:05:59,400
Speaker 26: From they soon bout.

1262
01:06:02,960 --> 01:06:06,960
Speaker 27: Baby, you blame me, Baby, I'll blame you.

1263
01:06:07,680 --> 01:06:14,160
Speaker 30: I don't like God can make this coming mess up

1264
01:06:14,200 --> 01:06:14,960
Speaker 30: by myself.

1265
01:06:15,360 --> 01:06:16,160
Speaker 27: T'p. I like you.

1266
01:06:20,120 --> 01:06:23,480
Speaker 31: A Greek if you couldn't tell they said same one

1267
01:06:23,600 --> 01:06:24,280
Speaker 31: makes some train.

1268
01:06:24,480 --> 01:06:43,120
Speaker 27: What's up?

1269
01:06:43,600 --> 01:06:47,040
Speaker 1: What's down? What were the major calls? And how will

1270
01:06:47,080 --> 01:06:50,600
Speaker 1: it affect the economy? The big business questions on the

1271
01:06:50,840 --> 01:06:55,480
Speaker 1: Business Hour with Ryan Bridge, hands mess insurance and investments,

1272
01:06:55,880 --> 01:06:57,720
Speaker 1: grow your wealth, to protect your future?

1273
01:06:58,040 --> 01:07:00,960
Speaker 2: News talks, It be you's living after six. It is

1274
01:07:01,040 --> 01:07:03,880
Speaker 2: a bumper to bumper Business Show today. Agane Tip Trainey

1275
01:07:04,000 --> 01:07:06,919
Speaker 2: is with us. She's in Wellington, she does business. She's

1276
01:07:07,000 --> 01:07:11,400
Speaker 2: all over Adrian or the story about Adrian or resigning.

1277
01:07:11,560 --> 01:07:15,840
Speaker 2: I should say excuse me anyway, she is across that

1278
01:07:15,920 --> 01:07:18,240
Speaker 2: story and she will be with us shortly to give

1279
01:07:18,320 --> 01:07:20,800
Speaker 2: her take on exactly why and what's going on there.

1280
01:07:21,040 --> 01:07:23,640
Speaker 2: Milford has an update on the reporting season that's just

1281
01:07:23,760 --> 01:07:27,440
Speaker 2: pass plus we're in the UK with Gavin Gray right now.

1282
01:07:27,520 --> 01:07:32,360
Speaker 2: Though the trade war tariffs against Mexico, Canada, China, Trump

1283
01:07:32,400 --> 01:07:34,720
Speaker 2: has put them in place. Now they are starting to

1284
01:07:34,800 --> 01:07:37,080
Speaker 2: have an impact on the market. The ends ofex fifty

1285
01:07:37,120 --> 01:07:39,120
Speaker 2: finished half a percent down today. The S and P

1286
01:07:39,280 --> 01:07:42,120
Speaker 2: five hundred has erased most of its gain since Trump's

1287
01:07:42,120 --> 01:07:44,920
Speaker 2: election win in November, and all eyes will be on

1288
01:07:45,000 --> 01:07:46,840
Speaker 2: markets overnight of course to see there's going to be

1289
01:07:46,880 --> 01:07:51,120
Speaker 2: further reaction. Gareth Kennan is Infametric's chief forecaster with US tonight, Hi, Gareth,

1290
01:07:52,200 --> 01:07:55,720
Speaker 2: evening run with the New Zealand markets. Is that a

1291
01:07:55,800 --> 01:07:56,240
Speaker 2: big deal?

1292
01:07:58,400 --> 01:08:00,440
Speaker 33: Well, it's not much of a shift here today compared

1293
01:08:00,440 --> 01:08:04,120
Speaker 33: to what we've seen overnight with the initial reaction from

1294
01:08:04,160 --> 01:08:06,640
Speaker 33: American and indeed some of the European markets as well.

1295
01:08:06,960 --> 01:08:08,280
Speaker 33: I mean my feeling with some of the sort of

1296
01:08:08,320 --> 01:08:10,720
Speaker 33: share markets and exchange rate as well, as they do

1297
01:08:10,880 --> 01:08:12,760
Speaker 33: tend to sometimes take a little bit of time to

1298
01:08:12,840 --> 01:08:15,480
Speaker 33: digest the news, and so I suspect that we may

1299
01:08:15,640 --> 01:08:16,880
Speaker 33: not well have seen the end of it yet.

1300
01:08:17,240 --> 01:08:20,200
Speaker 2: The reaction from Wall Street is that can we say

1301
01:08:20,280 --> 01:08:23,439
Speaker 2: basically that's they thought they didn't think that Trump would

1302
01:08:23,439 --> 01:08:25,120
Speaker 2: follow through in the way that he has and he's

1303
01:08:25,200 --> 01:08:29,120
Speaker 2: made good on his word. Yeah, I suspect that's right.

1304
01:08:29,160 --> 01:08:30,719
Speaker 33: I mean, you look at some of the initial market

1305
01:08:30,760 --> 01:08:33,320
Speaker 33: reaction after the election of Trump back in November, and

1306
01:08:33,680 --> 01:08:35,879
Speaker 33: the reaction was very much like always going to stimulate

1307
01:08:35,920 --> 01:08:38,320
Speaker 33: the American economy. There might be a bit more inflation,

1308
01:08:38,479 --> 01:08:40,320
Speaker 33: but you know, we're here for the growth kind of thing.

1309
01:08:40,520 --> 01:08:42,320
Speaker 33: And I think people are now starting to realize that

1310
01:08:42,400 --> 01:08:45,840
Speaker 33: actually there's some serious negative, medium term consequences that could

1311
01:08:45,880 --> 01:08:47,400
Speaker 33: come out of some of the policies that are now

1312
01:08:47,479 --> 01:08:47,960
Speaker 33: coming through.

1313
01:08:48,120 --> 01:08:53,000
Speaker 2: A big question, of course, is how long do they last? Yeah, well,

1314
01:08:53,240 --> 01:08:53,840
Speaker 2: I mean that's right.

1315
01:08:53,880 --> 01:08:55,400
Speaker 1: I mean you look at previous episodes.

1316
01:08:55,520 --> 01:08:57,720
Speaker 33: I looked back at the GFC today, and the share

1317
01:08:57,800 --> 01:09:01,120
Speaker 33: market there eighteen months from peak in two thousand and

1318
01:09:01,200 --> 01:09:03,280
Speaker 33: seven until it reached its trough out in two thousand

1319
01:09:03,280 --> 01:09:05,120
Speaker 33: and nine, and then it was up and down over

1320
01:09:05,160 --> 01:09:06,760
Speaker 33: the next two or three years before we sort of

1321
01:09:06,800 --> 01:09:07,920
Speaker 33: got out of the other side of that.

1322
01:09:08,320 --> 01:09:08,960
Speaker 2: You know, who knows.

1323
01:09:09,040 --> 01:09:11,360
Speaker 33: With financial market Sometimes you look and go, is it

1324
01:09:11,439 --> 01:09:13,559
Speaker 33: a one week event? In this case, I suspect it's

1325
01:09:13,560 --> 01:09:15,200
Speaker 33: going to be something that could last a lot longer,

1326
01:09:15,240 --> 01:09:17,200
Speaker 33: and we could be in a more serious sort of

1327
01:09:17,240 --> 01:09:19,840
Speaker 33: down tune down with trend that lasts for up to

1328
01:09:19,920 --> 01:09:20,519
Speaker 33: twelve months.

1329
01:09:20,960 --> 01:09:24,519
Speaker 2: We had you reckon. So even if he pulls them

1330
01:09:24,520 --> 01:09:27,240
Speaker 2: off in the next month or so, the damage has

1331
01:09:27,280 --> 01:09:29,320
Speaker 2: already been done or will have already been done to

1332
01:09:29,439 --> 01:09:32,800
Speaker 2: things like investment, to you know, labor hiring, that kind

1333
01:09:32,800 --> 01:09:35,559
Speaker 2: of stuff that the effects could linger for a year.

1334
01:09:35,640 --> 01:09:36,360
Speaker 2: Is that what you're saying.

1335
01:09:37,360 --> 01:09:39,680
Speaker 33: Look from a business point of view, I mean, uncertainly

1336
01:09:40,120 --> 01:09:42,360
Speaker 33: is a real killer when you're trying to make business decisions,

1337
01:09:42,479 --> 01:09:45,360
Speaker 33: especially when it's some of that longer term stuff around investment.

1338
01:09:45,720 --> 01:09:47,760
Speaker 33: And so if you're not sure how the landscape is

1339
01:09:47,800 --> 01:09:51,080
Speaker 33: going to be in a week's time, in six months time,

1340
01:09:51,400 --> 01:09:53,360
Speaker 33: then you are going to hold off on those decisions.

1341
01:09:53,400 --> 01:09:55,559
Speaker 33: And I think you're right. Even if he does sort

1342
01:09:55,600 --> 01:09:57,719
Speaker 33: of reverse some of these out and I'm not confident

1343
01:09:57,800 --> 01:10:00,800
Speaker 33: that he will, that businesses a look it and going well,

1344
01:10:00,880 --> 01:10:03,479
Speaker 33: I'm just not sure how that landscape looks going forward,

1345
01:10:03,560 --> 01:10:05,559
Speaker 33: and I'm going to hold off on making those sort

1346
01:10:05,600 --> 01:10:07,240
Speaker 33: of big commitments and decisions.

1347
01:10:07,479 --> 01:10:10,280
Speaker 2: And it's hard. I was listening to an auto industry

1348
01:10:10,360 --> 01:10:13,680
Speaker 2: executive today who was saying, you know, how do you

1349
01:10:14,120 --> 01:10:17,519
Speaker 2: exactly what your point how you meant to plan? He

1350
01:10:17,640 --> 01:10:20,160
Speaker 2: wants us to move factories to the United States. You know,

1351
01:10:20,240 --> 01:10:22,040
Speaker 2: currently they're doing it. A lot of production outside of

1352
01:10:22,080 --> 01:10:25,080
Speaker 2: the US. All that takes time, and I don't even

1353
01:10:25,120 --> 01:10:27,160
Speaker 2: know if these tariffs are still going to exist in

1354
01:10:27,280 --> 01:10:30,160
Speaker 2: two months, let alone two years. That is how unpredictable

1355
01:10:30,280 --> 01:10:30,519
Speaker 2: you are.

1356
01:10:32,040 --> 01:10:34,800
Speaker 33: Yeah, and I mean, we have seen some responses from

1357
01:10:35,120 --> 01:10:37,640
Speaker 33: businesses over the last six to twelve months to some

1358
01:10:37,760 --> 01:10:39,760
Speaker 33: of the previous tariffs that had come in for the

1359
01:10:39,960 --> 01:10:42,160
Speaker 33: likes of China, which Biden or Trump had put in

1360
01:10:42,280 --> 01:10:45,040
Speaker 33: and Biden had increased. In some cases, we have seen

1361
01:10:45,120 --> 01:10:47,800
Speaker 33: decisions being made where production is moving out of China,

1362
01:10:47,920 --> 01:10:49,640
Speaker 33: but it's not, of course, coming all the way back

1363
01:10:49,640 --> 01:10:52,040
Speaker 33: to the US. Generally, it's impacting on some of those

1364
01:10:52,080 --> 01:10:55,200
Speaker 33: other Southeast Asian nations where the tariffs aren't in place.

1365
01:10:55,400 --> 01:10:58,679
Speaker 33: But yeah, when you're talking about penalizing the whole rest

1366
01:10:58,760 --> 01:11:01,120
Speaker 33: of the world, including some of you, your closest neighbors,

1367
01:11:01,400 --> 01:11:03,479
Speaker 33: it does it's a whole nother step up above that.

1368
01:11:03,600 --> 01:11:05,479
Speaker 2: Really. Certainly it's Gareth, Thank you very much for that,

1369
01:11:05,520 --> 01:11:08,639
Speaker 2: Gareth Kennon. He's the chief forecast Informetrics in Wellington. Eleven

1370
01:11:08,640 --> 01:11:11,960
Speaker 2: minutes after six News Talks, ZB Jane tips Trainey is

1371
01:11:12,040 --> 01:11:14,960
Speaker 2: next her take on the Adrienne or saga from today,

1372
01:11:15,000 --> 01:11:18,120
Speaker 2: The resignation that basically took everyone I think in Wellington

1373
01:11:18,120 --> 01:11:20,400
Speaker 2: apart from the board of the RBNZ by surprise.

1374
01:11:21,479 --> 01:11:24,920
Speaker 1: It's the Heather dupas Allen Drive Full Show podcast on

1375
01:11:25,160 --> 01:11:27,599
Speaker 1: iHeartRadio empowered by News Talks EBB.

1376
01:11:29,080 --> 01:11:31,400
Speaker 2: You're on News Talk ZB. It's fourteen after six. We

1377
01:11:31,720 --> 01:11:34,640
Speaker 2: tried to get to Adriene all today. He's resigned. If

1378
01:11:34,680 --> 01:11:37,920
Speaker 2: you're just joining us suddenly, no one knows why we

1379
01:11:38,080 --> 01:11:40,400
Speaker 2: tried to get to him today. We asked the Reserve

1380
01:11:40,479 --> 01:11:42,439
Speaker 2: Bank of New Zealand's media team if he could come

1381
01:11:42,479 --> 01:11:44,400
Speaker 2: on the program. We heard nothing back from him. We

1382
01:11:44,560 --> 01:11:49,240
Speaker 2: called we text nadder crickets, the rumor mill now turning.

1383
01:11:49,320 --> 01:11:52,000
Speaker 2: Of course, no definitive reason was given for this departure.

1384
01:11:52,080 --> 01:11:55,000
Speaker 2: Janae Chips Trainey is the herald Wellington business reporter who's

1385
01:11:55,040 --> 01:11:58,600
Speaker 2: with us this evening. Hi Janay, Hi Ryan. Gosh, this

1386
01:11:58,760 --> 01:11:59,559
Speaker 2: was one out of the blue.

1387
01:12:00,439 --> 01:12:04,320
Speaker 34: It was I actually thought when my colleague Thomas Coglan

1388
01:12:04,400 --> 01:12:07,160
Speaker 34: told me, I thought he was joking in the office

1389
01:12:07,200 --> 01:12:10,519
Speaker 34: this afternoon just to evoke a reaction from me. It

1390
01:12:10,680 --> 01:12:16,920
Speaker 34: was definitely a surprise. Now tensions have been high between

1391
01:12:17,080 --> 01:12:19,840
Speaker 34: Adrian Or and Nikola Willis, and that is perhaps my

1392
01:12:19,920 --> 01:12:22,640
Speaker 34: best scarce sys to what's happened here. My guess, and

1393
01:12:22,760 --> 01:12:25,000
Speaker 34: this is not just my guess, is that things might

1394
01:12:25,080 --> 01:12:26,759
Speaker 34: have hit breaking point.

1395
01:12:28,439 --> 01:12:28,559
Speaker 22: Now.

1396
01:12:28,640 --> 01:12:30,719
Speaker 34: There are a couple of things that have been happening. Firstly,

1397
01:12:30,800 --> 01:12:33,519
Speaker 34: the Reserve Bank has been asking the government for more funding.

1398
01:12:34,040 --> 01:12:37,160
Speaker 34: It's received a lot more funding in recent years because

1399
01:12:37,400 --> 01:12:40,400
Speaker 34: the sort of work that it's been doing has expanded,

1400
01:12:40,960 --> 01:12:44,479
Speaker 34: particularly in terms of the way it regulates banks and insurers.

1401
01:12:45,400 --> 01:12:49,000
Speaker 34: So that's one thing. Nichola Willis has talked to The

1402
01:12:49,080 --> 01:12:52,760
Speaker 34: Herald last weekend and basically said that she thought the

1403
01:12:52,800 --> 01:12:56,960
Speaker 34: Reserve Bank's requests weren't reasonable and really emphasized the fact

1404
01:12:57,000 --> 01:12:58,680
Speaker 34: that the government's actually trying to cut the amount of

1405
01:12:58,720 --> 01:12:59,400
Speaker 34: money at spending.

1406
01:13:00,920 --> 01:13:01,960
Speaker 2: So that is one issue.

1407
01:13:02,360 --> 01:13:05,439
Speaker 34: Another issue is the way the Reserve Bank goes about

1408
01:13:05,800 --> 01:13:08,920
Speaker 34: regulating banks. There are these bank capital rules that we've

1409
01:13:08,960 --> 01:13:10,760
Speaker 34: been talking about for a number of years that are

1410
01:13:11,400 --> 01:13:16,040
Speaker 34: there to protect banks and prevent them from collapsing. Nikola

1411
01:13:16,040 --> 01:13:19,280
Speaker 34: Willis has been looking at whether those could be watered down.

1412
01:13:19,680 --> 01:13:21,840
Speaker 34: That's something the banks would like, and that is something

1413
01:13:21,920 --> 01:13:25,200
Speaker 34: that some people think would support more competition in the

1414
01:13:25,240 --> 01:13:29,479
Speaker 34: banking sector. So I think those are two issues of

1415
01:13:29,640 --> 01:13:32,639
Speaker 34: contention and that they might have contributed to this decision.

1416
01:13:32,680 --> 01:13:35,599
Speaker 34: That is only that is only a guess.

1417
01:13:36,040 --> 01:13:38,280
Speaker 2: I think you're onto something with the funding for the

1418
01:13:38,560 --> 01:13:41,759
Speaker 2: Reserve Bank itself. And when you look at the staff numbers.

1419
01:13:41,800 --> 01:13:44,479
Speaker 2: Somebody's just texted, have you guys mentioned the number of

1420
01:13:44,560 --> 01:13:47,200
Speaker 2: staff working at the Reserve Bank years? Yeah, and we

1421
01:13:47,280 --> 01:13:48,840
Speaker 2: did mention that earlier in the show. But just for

1422
01:13:48,880 --> 01:13:52,000
Speaker 2: those who aren't aware, in twenty eighteen, two hundred and

1423
01:13:52,040 --> 01:13:57,120
Speaker 2: fifty five full time equivalent employees, now six hundred. Do

1424
01:13:57,160 --> 01:14:00,519
Speaker 2: you know there are reasons why that number hasn't. You

1425
01:14:00,560 --> 01:14:03,800
Speaker 2: know that they are doing different things, But is that

1426
01:14:04,080 --> 01:14:05,240
Speaker 2: justified six hundred?

1427
01:14:06,160 --> 01:14:08,880
Speaker 34: Yeah, I mean it does. It's a lot, and it's

1428
01:14:08,960 --> 01:14:11,439
Speaker 34: hard to know, and I think it's a tough pill

1429
01:14:11,479 --> 01:14:15,960
Speaker 34: to swallow when one of the key jobs keeping inflation

1430
01:14:16,080 --> 01:14:18,920
Speaker 34: in check is something the Reserve Bank has failed at.

1431
01:14:19,280 --> 01:14:22,840
Speaker 34: Like inflation was above the target range for three years.

1432
01:14:22,880 --> 01:14:24,800
Speaker 34: It got as high as and your rate, god, as

1433
01:14:24,920 --> 01:14:27,840
Speaker 34: high as I think was just over seven percent. So

1434
01:14:28,160 --> 01:14:30,120
Speaker 34: you know that that is tough when you go, well,

1435
01:14:30,160 --> 01:14:32,080
Speaker 34: what's what's one of your key jobs and you didn't

1436
01:14:32,080 --> 01:14:34,840
Speaker 34: do it properly. Now, a few of the other things though,

1437
01:14:34,880 --> 01:14:36,920
Speaker 34: that the bank is doing. One of the big things

1438
01:14:37,040 --> 01:14:40,519
Speaker 34: is it's working on standing up this deposit compensation scheme.

1439
01:14:40,880 --> 01:14:43,200
Speaker 34: So that's a whole new insurance scheme that means if

1440
01:14:43,240 --> 01:14:46,000
Speaker 34: your bank collapses, you get some of your money back. Currently,

1441
01:14:46,120 --> 01:14:48,920
Speaker 34: if your bank collapses or you or even your credit

1442
01:14:49,040 --> 01:14:53,400
Speaker 34: union or other non bank deposit taker, you won't necessarily

1443
01:14:53,520 --> 01:14:56,280
Speaker 34: get your money back. So that's a huge piece of

1444
01:14:56,360 --> 01:15:00,400
Speaker 34: work to create this insurance scheme around that. So that is,

1445
01:15:00,479 --> 01:15:02,640
Speaker 34: for example, something that adrian Or would point to and

1446
01:15:02,720 --> 01:15:05,040
Speaker 34: say that this is a big deal and we need

1447
01:15:05,160 --> 01:15:06,200
Speaker 34: more stuff for that.

1448
01:15:06,960 --> 01:15:09,760
Speaker 2: Yeah, to know, I guess, Look, Wellington's a small place.

1449
01:15:09,840 --> 01:15:12,000
Speaker 2: We're all going to find out eventually what happened, don't we.

1450
01:15:12,520 --> 01:15:15,120
Speaker 34: We do see Adriana or walking around the streets and

1451
01:15:15,400 --> 01:15:16,479
Speaker 34: he will be asked.

1452
01:15:16,960 --> 01:15:17,400
Speaker 28: I mean, the.

1453
01:15:17,479 --> 01:15:19,760
Speaker 34: Timing of this is also unusual. It feels like it

1454
01:15:19,880 --> 01:15:23,479
Speaker 34: caught it caught e ronoff guard. The Reserve Bank called

1455
01:15:23,520 --> 01:15:26,080
Speaker 34: a last minute press conference at five o'clock today where

1456
01:15:26,280 --> 01:15:29,360
Speaker 34: the board chairs spoke to us again didn't provide too

1457
01:15:29,479 --> 01:15:32,400
Speaker 34: much more insight, but suggested that my theories, you know,

1458
01:15:32,600 --> 01:15:36,320
Speaker 34: might be correct. The other awkward thing is that the

1459
01:15:36,400 --> 01:15:40,400
Speaker 34: Reserve Bank is hosting this massive international conference tomorrow and

1460
01:15:40,600 --> 01:15:43,840
Speaker 34: on Friday. So we've got central bankers from around the

1461
01:15:43,880 --> 01:15:47,439
Speaker 34: world coming to Wellington, including you know, high profile people

1462
01:15:47,560 --> 01:15:51,840
Speaker 34: like the former Federal Reserve chair Ben Binank, Catherine Man.

1463
01:15:53,160 --> 01:15:56,719
Speaker 34: You know, we're celebrating thirty five years of inflation targeting.

1464
01:15:56,760 --> 01:15:59,960
Speaker 34: The Reserve Bank of New Zealand is traditionally well respect

1465
01:16:00,040 --> 01:16:03,120
Speaker 34: did around the world because we helped pioneer the approach

1466
01:16:03,200 --> 01:16:06,040
Speaker 34: that central banks take today. So to come out with

1467
01:16:06,160 --> 01:16:08,880
Speaker 34: this and Nikola Willis said it was Adrianal's choice to

1468
01:16:08,960 --> 01:16:11,639
Speaker 34: come out with us the day before this this conference,

1469
01:16:11,680 --> 01:16:14,960
Speaker 34: which is a big deal, is interesting. The other interesting

1470
01:16:15,040 --> 01:16:17,240
Speaker 34: thing is that the Reserve Bank said I couldn't attend

1471
01:16:17,320 --> 01:16:19,800
Speaker 34: the conference in person because there was not enough room

1472
01:16:20,240 --> 01:16:24,000
Speaker 34: and and it's being live streams. So make of that

1473
01:16:24,080 --> 01:16:24,479
Speaker 34: what you will.

1474
01:16:25,000 --> 01:16:26,720
Speaker 2: So Adrian's not going to it.

1475
01:16:27,439 --> 01:16:29,960
Speaker 34: No, Adrian's not going to it, noness.

1476
01:16:30,120 --> 01:16:33,040
Speaker 2: So he's thrown his toys in a massive way. He's

1477
01:16:33,120 --> 01:16:37,320
Speaker 2: having a massive wobbly. That's my that's my opinion. Amy.

1478
01:16:37,680 --> 01:16:39,240
Speaker 2: I'm not asking for a response from you.

1479
01:16:39,439 --> 01:16:40,000
Speaker 5: Hot takes.

1480
01:16:40,080 --> 01:16:40,679
Speaker 2: Hot takes.

1481
01:16:41,280 --> 01:16:42,880
Speaker 34: This is that you know, this is the thing and

1482
01:16:43,040 --> 01:16:45,960
Speaker 34: in the absence of a reason of you know, the

1483
01:16:46,000 --> 01:16:48,320
Speaker 34: Reserve Bank coming forward and adrianal fronting it. This is

1484
01:16:48,880 --> 01:16:49,679
Speaker 34: this is what happens.

1485
01:16:49,760 --> 01:16:52,800
Speaker 2: We fill the void. Yeah, well consider it fell donat

1486
01:16:52,840 --> 01:16:55,040
Speaker 2: ship traineye in z Heir at Wellington business before I

1487
01:16:55,080 --> 01:16:57,120
Speaker 2: thanks so much for your time. It is nineteen minutes

1488
01:16:57,160 --> 01:17:00,320
Speaker 2: after six. What else do you read but mass of

1489
01:17:00,640 --> 01:17:05,840
Speaker 2: woldly from petulant child who didn't get what he wanted

1490
01:17:05,880 --> 01:17:09,200
Speaker 2: in the budget? Did nineteen nine two the numbers of

1491
01:17:09,280 --> 01:17:12,160
Speaker 2: text nineteen after six? Will take a look at reporting

1492
01:17:12,200 --> 01:17:14,920
Speaker 2: season obviously we've been reporting on reporting season for the

1493
01:17:15,000 --> 01:17:18,160
Speaker 2: last couple of weeks. What does it mean for New

1494
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Speaker 2: Zealand Inc? What does it mean for the stock market?

1495
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1496
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Speaker 2: of future performance. Milford Funds Limited as the issue of

1512
01:18:11,400 --> 01:18:13,800
Speaker 2: the Milford Keep You Saber Plan and the Milford Investment Funds.

1513
01:18:13,840 --> 01:18:16,200
Speaker 2: Go to Milford Asset dot com to read development Milford

1514
01:18:16,320 --> 01:18:19,280
Speaker 2: Product disclosure statement and to read their financial advice Provider

1515
01:18:19,320 --> 01:18:20,160
Speaker 2: disclosure statement.

1516
01:18:20,439 --> 01:18:24,240
Speaker 1: Approaching the numbers and getting the results. It's Ryan Bridge

1517
01:18:24,400 --> 01:18:28,599
Speaker 1: with the Business Hour and Mass Insurance and Investments. Grew

1518
01:18:28,720 --> 01:18:31,880
Speaker 1: your Wealth, Protect Your Future News TALKSB.

1519
01:18:32,200 --> 01:18:35,720
Speaker 2: Six twenty three On News TALKSB, Sam Trithawi is with us.

1520
01:18:35,800 --> 01:18:40,040
Speaker 2: He's with Milford Asset Management. Good evening, good ending Right. Firstly,

1521
01:18:40,160 --> 01:18:42,760
Speaker 2: how would you summarize earning season? What companies were you

1522
01:18:42,880 --> 01:18:44,040
Speaker 2: hire as, what were your loose.

1523
01:18:45,080 --> 01:18:48,800
Speaker 35: I think ending season overall really confirmed what was not

1524
01:18:48,880 --> 01:18:50,960
Speaker 35: perhaps not a surprise for most at the second half

1525
01:18:51,000 --> 01:18:53,920
Speaker 35: of last year was a very tough period for New

1526
01:18:54,000 --> 01:18:57,320
Speaker 35: Zealand companies, and within the results reported you could see

1527
01:18:57,360 --> 01:19:00,920
Speaker 35: impacts of a week consumer not dramatically worse than prior,

1528
01:19:01,040 --> 01:19:03,880
Speaker 35: but certainly not improving. And on the back of it

1529
01:19:03,960 --> 01:19:06,519
Speaker 35: there was a big step up in corporates taking a

1530
01:19:06,600 --> 01:19:10,800
Speaker 35: much more serious approach to cost cutting. Probably one of

1531
01:19:10,800 --> 01:19:14,160
Speaker 35: the positives was really around the labor pressures that if

1532
01:19:14,200 --> 01:19:16,000
Speaker 35: you went back to three years ago, a lot of

1533
01:19:16,080 --> 01:19:20,320
Speaker 35: CEO is one of the top concerns was finding staff

1534
01:19:20,400 --> 01:19:23,080
Speaker 35: or the availability of labor. That has now flipped the

1535
01:19:23,120 --> 01:19:26,840
Speaker 35: other way. So overall not dramatically worse than expected, but

1536
01:19:27,040 --> 01:19:31,120
Speaker 35: definitely subdued in terms of highlights and lowlights. I think

1537
01:19:31,960 --> 01:19:34,760
Speaker 35: what was former A two sorry, what was the former market?

1538
01:19:34,840 --> 01:19:37,599
Speaker 35: Darling a too of milk? That was a clear standout

1539
01:19:37,720 --> 01:19:41,120
Speaker 35: stock up thirty seven percent as the company really got

1540
01:19:41,160 --> 01:19:43,680
Speaker 35: its mojo back, taking material share in the Chinese and

1541
01:19:43,760 --> 01:19:48,280
Speaker 35: performing their market, and lowlights spark in Royman Healthcare. Really,

1542
01:19:48,560 --> 01:19:51,880
Speaker 35: what's a soft training update in a large one billion

1543
01:19:51,880 --> 01:19:52,800
Speaker 35: dollar capital race?

1544
01:19:53,640 --> 01:19:56,000
Speaker 2: Yeah, which of those two things was more of a

1545
01:19:56,080 --> 01:19:58,439
Speaker 2: surprise to you because we know that Spark's been in

1546
01:19:58,880 --> 01:20:02,320
Speaker 2: trouble for a week while, so getting that news perhaps

1547
01:20:02,439 --> 01:20:05,120
Speaker 2: wasn't It wasn't as surprising as the Ryman equity raise.

1548
01:20:06,840 --> 01:20:09,040
Speaker 35: Yeah, no, I agree. I think it's the Ryman raised

1549
01:20:09,080 --> 01:20:12,280
Speaker 35: that that would have surprised investors the most. The Spark

1550
01:20:12,360 --> 01:20:15,760
Speaker 35: result well clearly not great and you know there were

1551
01:20:15,800 --> 01:20:19,320
Speaker 35: hents rounds. I guess loss of control of the cost

1552
01:20:19,400 --> 01:20:23,320
Speaker 35: base from management. It follows several soft trading updates from

1553
01:20:23,320 --> 01:20:25,679
Speaker 35: the company over the last year or so. But for Ryman,

1554
01:20:25,880 --> 01:20:28,040
Speaker 35: I think that really surprised in two ways. So firstly

1555
01:20:28,640 --> 01:20:31,600
Speaker 35: that trading update that they put out sales and of

1556
01:20:31,800 --> 01:20:35,320
Speaker 35: units within their villages. We're tracking at sixty percent of

1557
01:20:35,400 --> 01:20:37,760
Speaker 35: the prior year over the last week so over the

1558
01:20:37,840 --> 01:20:41,280
Speaker 35: last few weeks, so a big step down there. And secondly,

1559
01:20:41,640 --> 01:20:45,280
Speaker 35: if you'd asked most investors who follow the company closely,

1560
01:20:45,439 --> 01:20:48,080
Speaker 35: does Ryan Ryman need more cash, I think the answer

1561
01:20:48,080 --> 01:20:51,680
Speaker 35: would have been something like potentially in the future, but

1562
01:20:51,840 --> 01:20:54,559
Speaker 35: nothing is pressing at this stage. After they did step

1563
01:20:54,640 --> 01:20:58,880
Speaker 35: up and raise new equity in an emergency way two

1564
01:20:59,000 --> 01:21:01,759
Speaker 35: years ago, so that means that the raising was priced

1565
01:21:01,800 --> 01:21:04,559
Speaker 35: a heavy discount and had a pretty material fly on impact.

1566
01:21:05,040 --> 01:21:07,479
Speaker 35: To the wider market as investors look to fund.

1567
01:21:07,280 --> 01:21:09,160
Speaker 2: It say, and this has obviously not been a great

1568
01:21:09,200 --> 01:21:12,240
Speaker 2: reporting season for us for the half year. How far

1569
01:21:12,439 --> 01:21:14,320
Speaker 2: off peak bad news do you think we are?

1570
01:21:16,080 --> 01:21:19,800
Speaker 35: I think the fact that corporatings were subdued but not

1571
01:21:20,080 --> 01:21:23,160
Speaker 35: maturely worse suggests that yes, we potentially are at peak

1572
01:21:23,160 --> 01:21:26,640
Speaker 35: bad news or the trough of the economic cycle. The

1573
01:21:26,720 --> 01:21:33,439
Speaker 35: real question facing investors is really down downtown has been

1574
01:21:33,520 --> 01:21:38,840
Speaker 35: prolonged so far. And then secondly, what recovery path will

1575
01:21:38,880 --> 01:21:42,280
Speaker 35: we follow? So management teams from large companies just hope

1576
01:21:42,280 --> 01:21:45,080
Speaker 35: of or optimism of recovery in the second half of

1577
01:21:45,120 --> 01:21:47,080
Speaker 35: the year of the year, and yes they are taking

1578
01:21:47,880 --> 01:21:50,840
Speaker 35: cost out much more seriously. But I'll be watching the

1579
01:21:50,880 --> 01:21:53,920
Speaker 35: consumer closely for signs of that strong demand to get

1580
01:21:53,920 --> 01:21:57,120
Speaker 35: an indication of that pace of recovery. So when will

1581
01:21:57,160 --> 01:22:01,040
Speaker 35: we actually see lower mortgage rates start to lift consumer

1582
01:22:01,120 --> 01:22:03,280
Speaker 35: spending more materially than what's happened so far.

1583
01:22:03,640 --> 01:22:06,360
Speaker 2: Hopefully soon, Sam, thank you for that, Sam Trithwy Milford

1584
01:22:06,360 --> 01:22:10,439
Speaker 2: Asset Management. With the look back at reporting season, We're

1585
01:22:10,439 --> 01:22:19,120
Speaker 2: going to go a Fisher Funds for the market update next, whether.

1586
01:22:18,960 --> 01:22:22,920
Speaker 1: It's Macro Microbe or just playing economics. It's all on

1587
01:22:23,040 --> 01:22:27,880
Speaker 1: the business hours with Ryan Bridge and theirs. Insurance and investments,

1588
01:22:28,240 --> 01:22:32,759
Speaker 1: Grow your wealth, protect your future. These talk said guy left.

1589
01:22:32,640 --> 01:22:34,320
Speaker 5: Him somewhere, are no longer go.

1590
01:22:36,000 --> 01:22:38,000
Speaker 31: And I want you run away now.

1591
01:22:39,479 --> 01:22:41,479
Speaker 28: Grow the lovely thing we hear?

1592
01:22:41,720 --> 01:22:44,080
Speaker 24: Now, where did we go?

1593
01:22:44,400 --> 01:22:45,120
Speaker 28: Where did we go?

1594
01:22:47,160 --> 01:22:50,040
Speaker 2: But just twenty five away from seven you're on news talks.

1595
01:22:50,080 --> 01:22:52,160
Speaker 2: There'd be some numbers for you. This is on the

1596
01:22:52,280 --> 01:22:55,960
Speaker 2: trade stuff from the United States today, So nothing definitive

1597
01:22:56,040 --> 01:22:58,679
Speaker 2: we can say about the impact on the global economy

1598
01:22:58,720 --> 01:23:01,439
Speaker 2: at this point. I mean, you've's got one country firing

1599
01:23:01,520 --> 01:23:03,720
Speaker 2: off tariffs and then you've got others responding, and we

1600
01:23:03,760 --> 01:23:06,320
Speaker 2: don't know where it all lands, right, but some initial

1601
01:23:06,439 --> 01:23:09,799
Speaker 2: analysis out of the UK says they reckon. It'll knocker

1602
01:23:09,880 --> 01:23:14,080
Speaker 2: point four of a percent off US GDP. China would

1603
01:23:14,080 --> 01:23:17,920
Speaker 2: be down point one percent, Canada down point eight percent.

1604
01:23:18,479 --> 01:23:21,840
Speaker 2: New Zealand's impacts so far well much smaller than that

1605
01:23:22,200 --> 01:23:24,439
Speaker 2: and not directly impacted at this point. So I just

1606
01:23:24,520 --> 01:23:28,120
Speaker 2: don't know. Most of the interesting part, I think will

1607
01:23:28,160 --> 01:23:30,360
Speaker 2: be the agricultural tariff that Trump said he's going to

1608
01:23:30,400 --> 01:23:33,320
Speaker 2: put on in April. Second, where does that go? Let's

1609
01:23:33,360 --> 01:23:36,000
Speaker 2: have a listen to some of Donald Trump's address to

1610
01:23:36,120 --> 01:23:39,639
Speaker 2: Congress this afternoon, New Zealand time. It lasted a week

1611
01:23:39,720 --> 01:23:42,880
Speaker 2: while and during the speech he was interrupted a number

1612
01:23:42,880 --> 01:23:47,120
Speaker 2: of times. Once was by a Democratic congressman by the

1613
01:23:47,240 --> 01:23:50,439
Speaker 2: name of Al Green. Have a listen, take your seat.

1614
01:23:54,040 --> 01:23:57,280
Speaker 24: Finding the members continue to engage in wilful and concert

1615
01:23:57,320 --> 01:23:59,920
Speaker 24: a disruption or proper decorum. The Chair now directs as

1616
01:24:00,120 --> 01:24:05,639
Speaker 24: art and at arms to restore order, remove this gentleman

1617
01:24:05,680 --> 01:24:06,320
Speaker 24: from the chamber.

1618
01:24:13,520 --> 01:24:16,280
Speaker 2: There you go, that's Donald Trump being rudely interrupted. So

1619
01:24:16,400 --> 01:24:18,439
Speaker 2: the sergeant at arms was brought in and he was

1620
01:24:18,520 --> 01:24:20,679
Speaker 2: taken away. There's a lot of booing and back and forth.

1621
01:24:20,720 --> 01:24:24,639
Speaker 2: It wasn't they didn't cover themselves in glory. The Democrats,

1622
01:24:24,680 --> 01:24:27,040
Speaker 2: I have to say, some of them are actually holding signs.

1623
01:24:27,080 --> 01:24:30,439
Speaker 2: Some of the Democrat congressmen were holding signs that said

1624
01:24:31,040 --> 01:24:35,280
Speaker 2: musk steals. So there you go. Lots more out of

1625
01:24:35,600 --> 01:24:38,000
Speaker 2: Congress today, though. Have listen to this. This is Trump

1626
01:24:38,080 --> 01:24:42,120
Speaker 2: talking about he's got rid of DEI and the country

1627
01:24:42,240 --> 01:24:43,160
Speaker 2: is no longer woke.

1628
01:24:43,680 --> 01:24:47,600
Speaker 4: We've entered the tyranny of so called diversity, equity and

1629
01:24:47,720 --> 01:24:53,360
Speaker 4: inclusion policies all across the entire federal government, and indeed

1630
01:24:53,479 --> 01:24:58,839
Speaker 4: the private sector and to our military, and our country

1631
01:24:59,240 --> 01:25:01,479
Speaker 4: will be world no longer.

1632
01:25:03,080 --> 01:25:05,880
Speaker 2: He's also obviously in America, the cost of eggs has

1633
01:25:05,920 --> 01:25:07,720
Speaker 2: gone through the roof. He's blaming Biden for that.

1634
01:25:08,600 --> 01:25:11,840
Speaker 14: Joe Biden especially let the price of eggs get out

1635
01:25:11,880 --> 01:25:18,360
Speaker 14: of control, the egg prices out of control, and we're

1636
01:25:18,439 --> 01:25:20,679
Speaker 14: working hard to get it back down.

1637
01:25:20,960 --> 01:25:23,760
Speaker 4: Secretary, do a good job on that. You inherited a

1638
01:25:23,880 --> 01:25:26,240
Speaker 4: total mess from the previous administration.

1639
01:25:27,120 --> 01:25:29,400
Speaker 2: So there you go. It's all Biden's fault. Here's the

1640
01:25:29,479 --> 01:25:32,439
Speaker 2: thing about Donald Trump. If you're listening to this, yes,

1641
01:25:32,880 --> 01:25:34,960
Speaker 2: I mean I think it's funny. I think it's funny.

1642
01:25:35,400 --> 01:25:37,680
Speaker 2: He is the president of the United States, and what

1643
01:25:37,840 --> 01:25:43,680
Speaker 2: he says obviously carries power, carries weight, moves markets when

1644
01:25:43,720 --> 01:25:45,920
Speaker 2: he opens his mouth. But also he just sees some

1645
01:25:46,080 --> 01:25:49,360
Speaker 2: really outrageous dumb stuff, which I find interesting and I

1646
01:25:49,479 --> 01:25:54,080
Speaker 2: find funny. However, with the trade war, we've got markets

1647
01:25:54,120 --> 01:25:57,160
Speaker 2: around the world with their knickers twisted and side out.

1648
01:25:57,280 --> 01:26:00,919
Speaker 2: We've got the rug essentially pulled out from underneath Ukraine

1649
01:26:01,880 --> 01:26:05,040
Speaker 2: reports even today. This is from the Daily Mail in

1650
01:26:05,080 --> 01:26:06,960
Speaker 2: the UK, so take it with a grain of salt,

1651
01:26:07,000 --> 01:26:10,640
Speaker 2: but reports that he was considering relinquishing the leadership of

1652
01:26:10,880 --> 01:26:14,320
Speaker 2: NATO and handing that over to the Brits in the

1653
01:26:14,439 --> 01:26:18,960
Speaker 2: French and you think, my goodness, it's everything all at once.

1654
01:26:19,160 --> 01:26:22,280
Speaker 2: It's all a much. Can we slow down, please, Donald Trump.

1655
01:26:23,360 --> 01:26:25,560
Speaker 2: But there are three things to keep in mind that

1656
01:26:25,680 --> 01:26:28,960
Speaker 2: will keep him in check if you are worrying about

1657
01:26:29,000 --> 01:26:30,720
Speaker 2: what's going on and what the state of the world

1658
01:26:30,840 --> 01:26:32,839
Speaker 2: is like at the moment. One is the stock markets.

1659
01:26:32,880 --> 01:26:34,840
Speaker 2: We know he likes to see them pumping. We know

1660
01:26:35,000 --> 01:26:38,040
Speaker 2: he likes a strong stock exchange, and at the moment,

1661
01:26:38,080 --> 01:26:41,240
Speaker 2: after today's results, it's been not been, so that will

1662
01:26:41,320 --> 01:26:44,200
Speaker 2: keep him in check. The polls he doesn't like them turning.

1663
01:26:44,320 --> 01:26:47,240
Speaker 2: And most importantly, the midterms. So third of the Senate

1664
01:26:47,280 --> 01:26:49,080
Speaker 2: and all of the House seats are up for grabs

1665
01:26:49,120 --> 01:26:50,960
Speaker 2: in the midterm elections. This is in twenty twenty six,

1666
01:26:51,400 --> 01:26:53,960
Speaker 2: so he's got that to bear in mind as well.

1667
01:26:54,040 --> 01:26:55,920
Speaker 2: So those are just a couple of things that should

1668
01:26:56,000 --> 01:26:59,200
Speaker 2: keep him somewhat contained, although it may not feel like

1669
01:26:59,240 --> 01:27:03,960
Speaker 2: it right now. Twenty minutes away from seven cyclone Alfred.

1670
01:27:04,040 --> 01:27:07,599
Speaker 2: This is over in Queensland. Obviously, authorities there are tracking

1671
01:27:07,640 --> 01:27:11,439
Speaker 2: this very closely. Now, Jetstar, Quantus and Virgin Australia have

1672
01:27:11,479 --> 01:27:14,760
Speaker 2: had to cancel flights in and out of Brisbane. Not

1673
01:27:14,880 --> 01:27:17,519
Speaker 2: all of them, but a number of them have been canceled.

1674
01:27:17,920 --> 01:27:20,400
Speaker 2: The warning zone they've now extended we spoke about this

1675
01:27:20,520 --> 01:27:22,960
Speaker 2: morning zone Yester now extended to six hundred and fifty

1676
01:27:23,040 --> 01:27:28,000
Speaker 2: square kilometers. Seven hundred miles of rain is expected. Twenty

1677
01:27:28,200 --> 01:27:31,040
Speaker 2: six thousand homes are at risk of flooding. So this

1678
01:27:31,160 --> 01:27:35,240
Speaker 2: is a major area and a very densely populated area

1679
01:27:35,600 --> 01:27:37,280
Speaker 2: of Australia as well, and so in fact it's the

1680
01:27:37,280 --> 01:27:40,960
Speaker 2: second most densely populated area in Australia that they're looking

1681
01:27:41,000 --> 01:27:43,679
Speaker 2: at here, so it could be potentially be quite bad

1682
01:27:43,760 --> 01:27:46,160
Speaker 2: for them. We'll keep an eye on that one more

1683
01:27:46,200 --> 01:27:50,000
Speaker 2: bit before we go this. If you've ever been to

1684
01:27:50,240 --> 01:27:52,800
Speaker 2: Wall Street and had to look at the statues that

1685
01:27:52,840 --> 01:27:54,800
Speaker 2: they've got there, you will know that there is the

1686
01:27:55,560 --> 01:28:02,240
Speaker 2: bronze statue of the bear bull. There's a girl, or

1687
01:28:02,760 --> 01:28:05,240
Speaker 2: at least there used to be a girl who was

1688
01:28:05,479 --> 01:28:09,360
Speaker 2: facing the bull on Wall Street. And the idea was

1689
01:28:09,439 --> 01:28:11,960
Speaker 2: it was a bronze statue of a girl and she

1690
01:28:12,240 --> 01:28:17,600
Speaker 2: was the Fearless Girl statue. She was meant to symbolize

1691
01:28:17,720 --> 01:28:21,880
Speaker 2: gender diversity in the workplace and gender diversity on Wall Street,

1692
01:28:21,880 --> 01:28:23,360
Speaker 2: all these sorts of things, and they made a big

1693
01:28:23,439 --> 01:28:25,760
Speaker 2: hooha of this at the time. Now, the company that

1694
01:28:26,040 --> 01:28:29,200
Speaker 2: sponsored this was a company called State Street. It's an

1695
01:28:29,240 --> 01:28:33,559
Speaker 2: investment firm in New York. They came up with the concept,

1696
01:28:33,840 --> 01:28:35,720
Speaker 2: they got it made, they put it in front of

1697
01:28:35,840 --> 01:28:40,280
Speaker 2: the in front of the bull on Wall Street. This company,

1698
01:28:40,920 --> 01:28:43,760
Speaker 2: it's been reported today, this is from the Wall Street Journal.

1699
01:28:44,360 --> 01:28:49,320
Speaker 2: They had just quietly cut their diversity policies. They had

1700
01:28:49,360 --> 01:28:54,479
Speaker 2: a quota inside State Street thirty percent gender quota. They

1701
01:28:54,600 --> 01:28:57,519
Speaker 2: also required anyone that they did business with, they required

1702
01:28:57,720 --> 01:29:02,080
Speaker 2: them to tell State Street, what is the number of

1703
01:29:02,160 --> 01:29:04,439
Speaker 2: women you've got, what's the ratio of women you've got,

1704
01:29:04,520 --> 01:29:07,360
Speaker 2: what about the racial and the ethnic composition of your staff.

1705
01:29:07,400 --> 01:29:10,120
Speaker 2: They required that information before they would do business with them,

1706
01:29:11,360 --> 01:29:13,400
Speaker 2: and they have now dropped all of these. This is

1707
01:29:13,479 --> 01:29:16,280
Speaker 2: the same company that put the Fearless Girl on Wall Street.

1708
01:29:17,280 --> 01:29:20,599
Speaker 2: Clearly the whole thing was performative. Nineteen to seven, News

1709
01:29:20,680 --> 01:29:22,400
Speaker 2: Talk said, b We're in the UK.

1710
01:29:22,479 --> 01:29:26,960
Speaker 1: Next everything from SMEs to the big corporates, the Business

1711
01:29:27,040 --> 01:29:31,679
Speaker 1: Hour with Ryan Bridge and plans insurance and investments. Grew

1712
01:29:31,760 --> 01:29:34,360
Speaker 1: your wealth, protect your future news talk, said B.

1713
01:29:34,760 --> 01:29:38,000
Speaker 2: Sixteen away from seven Ryan. So glad Adrianara is gone.

1714
01:29:38,040 --> 01:29:40,840
Speaker 2: He was a disaster with Robertson interfering as well. It

1715
01:29:40,960 --> 01:29:43,400
Speaker 2: was more of a puppet's best news ever, says Linda,

1716
01:29:43,560 --> 01:29:46,280
Speaker 2: and another here says, this is about the astronauts who

1717
01:29:46,880 --> 01:29:49,360
Speaker 2: were stuck in space. They are going to be coming

1718
01:29:49,439 --> 01:29:52,479
Speaker 2: home and will be replaced by two new astronauts, one

1719
01:29:52,560 --> 01:29:55,400
Speaker 2: of whom is American, the other is Russian. And I

1720
01:29:55,560 --> 01:29:57,720
Speaker 2: like this text from Paul that just says, maybe we

1721
01:29:57,800 --> 01:30:01,400
Speaker 2: should send mister Trump and mister up there together. That

1722
01:30:01,520 --> 01:30:03,160
Speaker 2: would sort the whole thing out, wouldn't it. That would

1723
01:30:03,160 --> 01:30:06,439
Speaker 2: solve the world's problems. Let's go to Gevin Gray, he's

1724
01:30:06,439 --> 01:30:08,599
Speaker 2: our UK and You correspondent, Gavin Good evening.

1725
01:30:09,520 --> 01:30:12,240
Speaker 36: Good evening run. It would be solved in a day, wouldn't.

1726
01:30:11,840 --> 01:30:18,320
Speaker 2: The Hey, the Vice President in the United States backtracking

1727
01:30:18,400 --> 01:30:21,200
Speaker 2: on these comments he made about potential involvement of the

1728
01:30:21,800 --> 01:30:24,599
Speaker 2: international forces to police a peace deal in Ukraine. How's

1729
01:30:24,640 --> 01:30:25,679
Speaker 2: it going down over there?

1730
01:30:26,920 --> 01:30:27,120
Speaker 1: Yeah?

1731
01:30:27,280 --> 01:30:30,080
Speaker 36: Really really, as you can imagine, very badly. Lots of

1732
01:30:30,160 --> 01:30:34,280
Speaker 36: criticism here, and he has since JD. Vance backtracked on

1733
01:30:34,479 --> 01:30:37,160
Speaker 36: some of those comments. So his comments actually were that

1734
01:30:38,200 --> 01:30:41,640
Speaker 36: the having a US stake in the Ukraine economy was

1735
01:30:41,760 --> 01:30:45,600
Speaker 36: quote better security guarantee than twenty thousand troops from some

1736
01:30:46,080 --> 01:30:49,120
Speaker 36: random country that hasn't fought a war in thirty to

1737
01:30:49,240 --> 01:30:49,960
Speaker 36: forty years.

1738
01:30:50,479 --> 01:30:50,639
Speaker 32: Now.

1739
01:30:50,960 --> 01:30:53,320
Speaker 36: Who was he talking about, Well, only the UK and

1740
01:30:53,439 --> 01:30:55,560
Speaker 36: France have offered to put boots on the ground in

1741
01:30:55,720 --> 01:30:58,240
Speaker 36: Ukraine as part of a peace deal, so one assumes

1742
01:30:58,280 --> 01:31:00,559
Speaker 36: he was talking about them, and that led, of course

1743
01:31:00,640 --> 01:31:05,880
Speaker 36: to plenty of people here referring to the mission in

1744
01:31:05,960 --> 01:31:09,840
Speaker 36: Afghanistan with America, the mission in Iraq with America, and

1745
01:31:09,960 --> 01:31:13,360
Speaker 36: plenty of people which said it was incredibly disrespectful of

1746
01:31:13,520 --> 01:31:17,120
Speaker 36: British forces the same sort of said from France. And

1747
01:31:17,600 --> 01:31:19,560
Speaker 36: now jdvans And said, well, no, I never said it

1748
01:31:19,680 --> 01:31:21,960
Speaker 36: was Britain or France. I didn't mention those countries.

1749
01:31:22,280 --> 01:31:24,800
Speaker 2: But who else could he have referred to? Well, we

1750
01:31:24,920 --> 01:31:25,240
Speaker 2: don't know.

1751
01:31:25,360 --> 01:31:28,000
Speaker 36: He didn't answer that, So yeah, a lot of upset

1752
01:31:28,080 --> 01:31:29,400
Speaker 36: here caused by that comment.

1753
01:31:29,680 --> 01:31:32,080
Speaker 2: Meanwhile, the summit you guys head over in London with

1754
01:31:32,840 --> 01:31:36,000
Speaker 2: you know, the French and all sorts of European leaders

1755
01:31:36,040 --> 01:31:39,519
Speaker 2: intra Die actually Trump's kind of headed poke at that too.

1756
01:31:41,000 --> 01:31:43,519
Speaker 36: Yeah, just saying, you know, gosh, is that all they

1757
01:31:43,560 --> 01:31:45,439
Speaker 36: can do? What a time to say that, you know,

1758
01:31:46,160 --> 01:31:47,960
Speaker 36: when we're going to have a get together and talk

1759
01:31:48,000 --> 01:31:50,600
Speaker 36: about more war was his comment, When he should be

1760
01:31:50,720 --> 01:31:53,519
Speaker 36: we should be trying to talk about peace. So he's

1761
01:31:53,560 --> 01:31:58,400
Speaker 36: absolutely slammed it. And as the UK was proudly announcing

1762
01:31:58,439 --> 01:32:02,040
Speaker 36: a four point planned to gearantse Ukraine's defense in the

1763
01:32:02,080 --> 01:32:05,160
Speaker 36: event of a peace deal, the US President said, in

1764
01:32:05,200 --> 01:32:07,720
Speaker 36: my quote, probably not a great statement to have made

1765
01:32:07,800 --> 01:32:10,360
Speaker 36: in terms of a show of strength against Russia. What

1766
01:32:10,680 --> 01:32:14,920
Speaker 36: are they thinking? Again, didn't elaborate on that, And we

1767
01:32:15,040 --> 01:32:17,560
Speaker 36: don't know why this suddenly came out. There is this

1768
01:32:17,640 --> 01:32:19,880
Speaker 36: sort of tendency I think, as was shown by J.

1769
01:32:20,040 --> 01:32:23,679
Speaker 36: D Vance in that earlier answer, that they just simply

1770
01:32:23,720 --> 01:32:26,439
Speaker 36: shoot from the hip a little bit and once or

1771
01:32:26,479 --> 01:32:28,120
Speaker 36: twice that's landing them into hot water.

1772
01:32:29,240 --> 01:32:32,280
Speaker 2: Now six, so we're all in five eyes together, right,

1773
01:32:32,439 --> 01:32:37,160
Speaker 2: and six is in there with US gathering intelligence foreign intelligence,

1774
01:32:38,040 --> 01:32:41,320
Speaker 2: your inspy agency is actually a little bit worried about

1775
01:32:41,400 --> 01:32:45,040
Speaker 2: sharing that intelligence now with the United States because Trump's

1776
01:32:45,080 --> 01:32:45,479
Speaker 2: in power.

1777
01:32:46,840 --> 01:32:49,519
Speaker 36: Yeah, I don't think we're the only ones now There

1778
01:32:49,560 --> 01:32:53,800
Speaker 36: hasn't been a formal announcement about this, but in the

1779
01:32:53,880 --> 01:32:58,760
Speaker 36: last few hours Finland's intelligence service called SUPO has said

1780
01:32:58,840 --> 01:33:04,080
Speaker 36: it is closely what developments in the Trump administration. Why well,

1781
01:33:04,160 --> 01:33:07,000
Speaker 36: because you know, first of all, President Trump has cozied

1782
01:33:07,080 --> 01:33:11,479
Speaker 36: up to Putin. Secondly, he has stopped his administration's offensive

1783
01:33:11,840 --> 01:33:16,680
Speaker 36: cyber operations against Russia. And lastly, the administration already is

1784
01:33:16,760 --> 01:33:20,839
Speaker 36: accused of mishandling sensitive data that's supposed to be secret

1785
01:33:21,120 --> 01:33:24,520
Speaker 36: by actually announcing it on social media, is the allegation.

1786
01:33:25,080 --> 01:33:27,960
Speaker 36: So that's why many in the Five Eyes are very,

1787
01:33:28,200 --> 01:33:30,880
Speaker 36: very wary about what's happening. I think to be fair raum,

1788
01:33:30,960 --> 01:33:33,240
Speaker 36: when any new leader gets in, there's a certain element

1789
01:33:33,320 --> 01:33:37,679
Speaker 36: of apprehension, maybe a certain element of not giving everything

1790
01:33:37,760 --> 01:33:40,280
Speaker 36: over at the start that you know. But I think

1791
01:33:40,640 --> 01:33:45,559
Speaker 36: definitely we're sensing among those different security intelligence organizations across

1792
01:33:45,600 --> 01:33:48,600
Speaker 36: Australia and New Zealand, amongst the Five Eyes, that this

1793
01:33:48,840 --> 01:33:52,160
Speaker 36: is going to be something that all of those governments

1794
01:33:52,200 --> 01:33:56,080
Speaker 36: and organizations are reviewing carefully, fearing that any information they

1795
01:33:56,160 --> 01:33:59,640
Speaker 36: give may suddenly be blurted out on social media or in.

1796
01:33:59,680 --> 01:34:03,640
Speaker 2: An in you which is an absolutely fear concerned to have.

1797
01:34:04,120 --> 01:34:07,360
Speaker 2: The other instinct thing, course, is whether the American intelligence

1798
01:34:07,400 --> 01:34:10,640
Speaker 2: community actually hands over all of the intel to the

1799
01:34:10,680 --> 01:34:14,240
Speaker 2: president on the same basis. Now, tell me about these migrants.

1800
01:34:14,360 --> 01:34:16,960
Speaker 2: They were trying to cross the Mediterranean Sea and they

1801
01:34:17,080 --> 01:34:19,800
Speaker 2: have been rescued, which is fantastic news. That they found

1802
01:34:19,840 --> 01:34:21,839
Speaker 2: themselves on an oil platform.

1803
01:34:23,160 --> 01:34:25,960
Speaker 36: Yes, that's right. So it's just off the coast of Tunisia,

1804
01:34:26,040 --> 01:34:30,200
Speaker 36: so they haven't got terribly far, and they decided to

1805
01:34:30,920 --> 01:34:34,960
Speaker 36: get onto this oil platform because I think their boat

1806
01:34:35,080 --> 01:34:38,320
Speaker 36: was very sort of poorly maintained as usual, and they

1807
01:34:38,400 --> 01:34:43,479
Speaker 36: feared drowning. So although one personal platform has died when

1808
01:34:43,520 --> 01:34:47,320
Speaker 36: they managed to scramble or board, they are now on

1809
01:34:47,479 --> 01:34:51,240
Speaker 36: a non governmental organization boat called the Sea Watch. It

1810
01:34:51,320 --> 01:34:55,840
Speaker 36: says it's rescued all thirty two remaining from this platform. However,

1811
01:34:56,640 --> 01:35:00,200
Speaker 36: although they're being looked after aboard the Aurora ship, no

1812
01:35:00,840 --> 01:35:06,360
Speaker 36: country nearby has yet agreed to let the ship dock safely, So,

1813
01:35:06,479 --> 01:35:10,479
Speaker 36: in other words, no European countries intervened despite what the

1814
01:35:10,840 --> 01:35:15,200
Speaker 36: ship's owners are saying is an imminent emergency and the

1815
01:35:15,280 --> 01:35:18,519
Speaker 36: fact that the people are stranded in international waters, so

1816
01:35:19,200 --> 01:35:23,679
Speaker 36: they are looking at Malta perhaps as being the place

1817
01:35:23,760 --> 01:35:26,679
Speaker 36: that should take them on run because this happened within

1818
01:35:27,080 --> 01:35:31,120
Speaker 36: international waters, but within the Maltese search and rescue zone.

1819
01:35:31,360 --> 01:35:33,559
Speaker 36: And I think it really plays again into this thing

1820
01:35:33,600 --> 01:35:37,200
Speaker 36: at the moment which immigration is such a hot topic

1821
01:35:37,320 --> 01:35:40,880
Speaker 36: here in Europe and all those attacks as well that

1822
01:35:40,920 --> 01:35:45,400
Speaker 36: we've seen in Germany by asylum seekers and by those

1823
01:35:45,439 --> 01:35:48,400
Speaker 36: who come from Afghanistan and other countries that quite frankly,

1824
01:35:49,040 --> 01:35:51,479
Speaker 36: people are going to be very very reluctant countries, very

1825
01:35:51,520 --> 01:35:54,800
Speaker 36: reluctant to take on board these thirty two even though

1826
01:35:55,160 --> 01:35:56,800
Speaker 36: it is a relatively small figure.

1827
01:35:56,920 --> 01:35:59,320
Speaker 2: Absolutely, thank you very much for that, Devin Gray, UK

1828
01:35:59,439 --> 01:36:01,559
Speaker 2: Europe cars on it with us. Time is nine minutes

1829
01:36:01,600 --> 01:36:04,400
Speaker 2: away from seven. You're on Newstalk ZBB. That four year

1830
01:36:04,520 --> 01:36:07,880
Speaker 2: parliamentary term bill passed its first reading today and there's

1831
01:36:07,920 --> 01:36:09,920
Speaker 2: another one related to it that's coming. I'll tell you

1832
01:36:10,000 --> 01:36:10,800
Speaker 2: more about that next.

1833
01:36:11,960 --> 01:36:15,160
Speaker 1: It's the Heather to Pice Allen Drive Full Show podcast

1834
01:36:15,320 --> 01:36:18,840
Speaker 1: on iHeartRadio powered by NEWSTALKSZBB.

1835
01:36:19,200 --> 01:36:22,120
Speaker 2: News Talks VB. Time is seven away from seven, So

1836
01:36:22,320 --> 01:36:25,640
Speaker 2: the David Siemol legislation that the government has taken on

1837
01:36:25,760 --> 01:36:28,559
Speaker 2: board to do a four year parliamentary term has passed

1838
01:36:28,600 --> 01:36:33,400
Speaker 2: its first reading today. Interestingly, all parties in Parliament supported it,

1839
01:36:33,600 --> 01:36:37,200
Speaker 2: apart from two Party Mardi, which is remember yesterday we

1840
01:36:37,320 --> 01:36:39,920
Speaker 2: talked about the congestion Charging Bill, which passed its first

1841
01:36:40,000 --> 01:36:43,160
Speaker 2: reading in Parliament with the support of all parties except

1842
01:36:43,200 --> 01:36:45,680
Speaker 2: to Party. Mardi anyway, never got quite got to the

1843
01:36:45,720 --> 01:36:48,360
Speaker 2: bottom of why to Party Marty was against congestion charging.

1844
01:36:48,439 --> 01:36:50,920
Speaker 2: I can only assume it's because that would mean that

1845
01:36:51,240 --> 01:36:54,040
Speaker 2: those who were least able to afford to travel at

1846
01:36:54,040 --> 01:36:55,680
Speaker 2: that time wouldn't be able to travel. But that's just

1847
01:36:55,840 --> 01:36:58,400
Speaker 2: me surmising. They weren't in parliament to give a speech,

1848
01:36:58,479 --> 01:37:01,200
Speaker 2: so how would we know. Anyway, This four year term

1849
01:37:01,320 --> 01:37:05,240
Speaker 2: legislation's past its first reading, taken the first step. However,

1850
01:37:05,479 --> 01:37:08,839
Speaker 2: there need to be another piece of legislation that's related

1851
01:37:08,920 --> 01:37:12,120
Speaker 2: to this that they're going to introduce also this week.

1852
01:37:12,640 --> 01:37:16,640
Speaker 2: The Referendum's Framework Bill will have its first reading this

1853
01:37:16,800 --> 01:37:20,240
Speaker 2: week sometime. It'll provide the conduct for a referendum alongside

1854
01:37:20,280 --> 01:37:24,439
Speaker 2: the general election. And remember this bill doesn't change the

1855
01:37:24,560 --> 01:37:27,880
Speaker 2: term of parliament, but it allows a parliament to be

1856
01:37:28,000 --> 01:37:31,680
Speaker 2: extended to a maximum term of four years. Honestly, you

1857
01:37:31,800 --> 01:37:34,160
Speaker 2: need a law degree just to understand how this things

1858
01:37:34,200 --> 01:37:36,920
Speaker 2: are going to even be implemented. And the other thing

1859
01:37:36,960 --> 01:37:39,360
Speaker 2: that they want to change David Seymour does at least

1860
01:37:39,560 --> 01:37:42,800
Speaker 2: is the Select Committee so that you have a non

1861
01:37:42,880 --> 01:37:46,240
Speaker 2: government majority in opposition majority on Select Committee, so that

1862
01:37:46,280 --> 01:37:49,360
Speaker 2: it's more transparent and more democratic if you are going

1863
01:37:49,400 --> 01:37:53,320
Speaker 2: for four years. So there you go. In summary. Goodness me,

1864
01:37:53,439 --> 01:37:56,679
Speaker 2: what a busy day. It may feel like the world

1865
01:37:56,800 --> 01:37:59,400
Speaker 2: is about to end. It's not about to end. Things

1866
01:37:59,520 --> 01:38:03,120
Speaker 2: always we always muddle through, don't we. And we heard

1867
01:38:03,160 --> 01:38:06,920
Speaker 2: from Tim Todd McClay, the Trade Minister today in the

1868
01:38:06,960 --> 01:38:14,120
Speaker 2: program we could actually benefit from a trade war our

1869
01:38:14,160 --> 01:38:18,040
Speaker 2: agricultural products. Yes, we sell a lot number two trading

1870
01:38:18,120 --> 01:38:21,759
Speaker 2: partner as the United States for goods, but we also

1871
01:38:22,240 --> 01:38:26,120
Speaker 2: have our main trading partner as China, and if goods

1872
01:38:26,560 --> 01:38:28,680
Speaker 2: the trade war gets so out of hand between those

1873
01:38:28,760 --> 01:38:31,960
Speaker 2: two that American goods and American agricultural products to get

1874
01:38:32,000 --> 01:38:35,640
Speaker 2: too expensive, they'll start buying more of ours. So it

1875
01:38:35,720 --> 01:38:38,000
Speaker 2: could go both ways. It may not be the end

1876
01:38:38,040 --> 01:38:39,920
Speaker 2: of the world, even though it might feel like it

1877
01:38:40,000 --> 01:38:43,800
Speaker 2: today four away from seven News talks'd be thanks for

1878
01:38:43,880 --> 01:38:47,120
Speaker 2: all the emails and your feedback and for listening SA Tomorrow.

1879
01:39:02,800 --> 01:39:13,800
Speaker 30: Where wait, Wait, no.

1880
01:39:18,760 --> 01:39:22,559
Speaker 31: Sunny Crying Baby decide the times.

1881
01:39:25,000 --> 01:39:26,280
Speaker 30: We gotta get.

1882
01:39:26,120 --> 01:39:38,599
Speaker 31: Away, Weaken, we got t get, we got dog get away,

1883
01:39:41,040 --> 01:39:41,759
Speaker 31: we got.

1884
01:39:48,040 --> 01:39:56,799
Speaker 30: We got t get, we got wake out.

1885
01:40:21,439 --> 01:40:24,600
Speaker 1: For more from Hither Duplessy Alan Drive, Listen live to

1886
01:40:24,720 --> 01:40:27,719
Speaker 1: news talks. It'd be from four pm weekdays, or follow

1887
01:40:27,800 --> 01:40:29,520
Speaker 1: the podcast on iHeartRadio