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Speaker 1: Pressing the newsmakers to get the real story. It's Heather

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Speaker 1: Duplicy Ellen Drive with One New Zealand to coverage like

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Speaker 1: no one else.

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Speaker 2: News Talks Heavy Afternoon.

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Speaker 3: Welcome to the show. Coming up today, the government's announced

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Speaker 3: the Tom Phillips Inquiry, which is going to look into

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Speaker 3: whether the police went in fast enough to get his

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Speaker 3: kids out. Judith Collins is to us up to five.

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Speaker 3: The Reserve Bank is worried that we can't get our

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Speaker 3: hands on cash easily enough anymore. It's got a plan.

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Speaker 3: It'll talk us through it. And Jetstar is on the

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Speaker 3: show because I now love Jetstar. Heather Duplicy Ellen, we

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Speaker 3: will talk more about Jetstar. First of all, though, let's

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Speaker 3: talk about this. I can't say I'm sorry to see

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Speaker 3: class action being taken against Transpower for that power pylon

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Speaker 3: falling over. I was a little surprised to be listening

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Speaker 3: to my Costing Brieckfast show this morning and hear the

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Speaker 3: boss of the Northland Chamber of Commerce pooh poohing it

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Speaker 3: on account of the fact that she thought, ah, it's

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Speaker 3: just something that happened in the past. We'll need to

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Speaker 3: move on. And Transpower was great. No mate, Transpower was

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Speaker 3: not great. Let me remind you, Transpower, so I had

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Speaker 3: to be dragged by the local MP, Grant McCallum to

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Speaker 3: finally four months later, agreeing to pay a million dollars

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Speaker 3: in compensation to the businesses who suffered when they lost

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Speaker 3: power in some cases for days, in some cases not

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Speaker 3: in all cases, after Transpower had said repeatedly they don't

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Speaker 3: pay compensation, so finally they coughed up a million. A million,

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Speaker 3: by the way, doesn't even touch the sides of what

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Speaker 3: that outage actually cost businesses, which is estimated to be

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Speaker 3: somewhere in the vicinity of sixty to eighty million dollars,

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Speaker 3: So don't tell me Transpower. Good guys here. Transpower actually

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Speaker 3: also initially, if you remember, trying to hide what happened.

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Speaker 3: They didn't want to tell us. It was only after

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Speaker 3: the photos got out showing that some numpty at pulled

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Speaker 3: out the nuts on three of the legs of the

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Speaker 3: pylon's base, causing the thing to fall over. That's when

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Speaker 3: we realized what had happened, and we ridiculed them on air,

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Speaker 3: both on the show and on Mike's Show, and then

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Speaker 3: the Minister Simme and Brown forced them to front up,

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Speaker 3: and that is when they actually fessed up what it

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Speaker 3: really happened. They didn't want to. So let's not pretend

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Speaker 3: that Transpower had the back of everyone on this. They didn't.

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Speaker 3: I don't love the idea that we will have a

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Speaker 3: culture of litigation, because let's be honest, we are importing

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Speaker 3: this from Australia, and I don't love the idea of

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Speaker 3: a culture of litigation. But I tell you what I

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Speaker 3: love a whole lot less, which is the culture that

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Speaker 3: we have of the moment of old. She'll be right,

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Speaker 3: and no one really cares if businesses are forced to

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Speaker 3: shut down and can't make money. That is pervasive.

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Speaker 4: Right.

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Speaker 3: We have a case right now that playing out with

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Speaker 3: water Care in Auckland just allowing poo to be pumped

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Speaker 3: into the waterways to pollute the oyster growers. And they're like, nah,

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Speaker 3: this happens, it shouldn't happen. So if this class action

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Speaker 3: actually forces the likes of Transpower and o'm exim and

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Speaker 3: water Care to pull their socks up and be afraid

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Speaker 3: of businesses suing them for stuffing things up, I can't

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Speaker 3: see that that's a bad thing ever. Do for ce Ellen,

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Speaker 3: who's the text number we're going to I'd love to

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Speaker 3: know what you think. We are going to talk to

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Speaker 3: the KC in New Zealand who is representing all of this,

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Speaker 3: Mike Colson. He'll be with us after five o'clock. Right now,

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Speaker 3: it's ten past four. Now, it turns out millennials are weird. Okay, Normally,

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Speaker 3: what happens in all generations is that as people get older,

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Speaker 3: they get more conservative. But millennials are doing the opposite.

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Speaker 3: It appears that as millennials get older, they're getting more liberal.

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Speaker 3: This is according to the latest Australian Elections Study. Doctor

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Speaker 3: Sarrah Cameron of Griffith University was a chief investigator on

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Speaker 3: the study and with us now, hey, Sarah, hi, Heather,

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Speaker 3: how are you measuring this? How are you measuring the

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Speaker 3: fact that millennials are getting more liberal?

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Speaker 5: So the Australian Elections Study is a representative national survey

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Speaker 5: of voters in Australia that has been fielded after every

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Speaker 5: single federal election from nineteen eighty seven through to twenty

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Speaker 5: twenty five. So what that enables us to do is

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Speaker 5: to look at the voting behavior of different generations over

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Speaker 5: that period of time. Now we can see, for an

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Speaker 5: older generation, like baby boomers, they followed the pattern you described,

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Speaker 5: whereby they started a bit further to the left and

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Speaker 5: then they became more conservative as they got older. With Millennials,

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Speaker 5: this is a group that started further to the left,

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Speaker 5: and now they're not the youngest group of voters anymore.

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Speaker 5: That's been taken by Generation Z. Millennials are now in

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Speaker 5: their thirties and even into their mid forties. And what

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Speaker 5: we're seeing is that this group isn't becoming more conservative

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Speaker 5: as they get older. They've actually been shifting to the left,

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Speaker 5: which is shown by them voting more for labor and

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Speaker 5: the Greens while the proportion voting for the liberal National Solution.

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Speaker 3: But how long have millennials been voting, Well.

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Speaker 5: Since about the turn of the millennium, and they get

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Speaker 5: to the turn of the millennium, you had the yeah, you.

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Speaker 3: Have a few elections, isn't it, And are you telling

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Speaker 3: me that they started left? The millennials name moving even

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Speaker 3: further left, and.

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Speaker 5: They started a bit more balanced, and then they've been

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Speaker 5: moving left. Generation Z they've started further to the left

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Speaker 5: of any generation, even more so than millennials. So we're

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Speaker 5: seeing a pattern whereby well, younger generations are further to

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Speaker 5: the left, but also they're not showing the pattern of

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Speaker 5: shifting to the right as they get older.

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Speaker 3: Bunch of things. I got to ask you, Sarah, So

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Speaker 3: first of all, did you only study this in Australia

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Speaker 3: or was it worldwide?

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Speaker 5: So this particular study is in Australia, but many other

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Speaker 5: times run.

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Speaker 3: Is it possible, is it possible that this is more

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Speaker 3: of a reflection of your own politics where your right

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Speaker 3: wing parties frankly suck.

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Speaker 6: Well, we do.

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Speaker 5: Have data on how much people like the political parties

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Speaker 5: over time, and so we can see whether indeed the

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Speaker 5: parties are becoming worse over times.

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Speaker 3: And you can say you don't know if you don't

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Speaker 3: know in fact to that, and I think it might

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Speaker 3: be a specific Australia problems. You have a problem with

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Speaker 3: your writy parties. What about the other thing that millennials

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Speaker 3: are also slightly odd in terms of like the generations

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Speaker 3: that have come before them, in that there are the

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Speaker 3: younger millennials will not yet have settled down. Border House

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Speaker 3: really late, We're really late to get to things right.

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Speaker 3: So haven't yet border House, haven't yet had children. Those

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Speaker 3: are things that tend tow to force you to become

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Speaker 3: more conservative. Could that be part of it?

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Speaker 5: Yes? Yes, you're spot on in terms of that being

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Speaker 5: part of it, and in terms of whether this is

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Speaker 5: something that's exceptional to Australia or not. This is not

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Speaker 5: just an Australian phenomenon in the sense that some of

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Speaker 5: the old cleavages that drove voter behavior like class, are

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Speaker 5: having less and less of an impact over time.

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Speaker 3: Oh yeah.

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Speaker 5: The new big cleavages which are shaping voter behavior generation,

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Speaker 5: gender and also education. Now, so to look at gender,

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Speaker 5: can I just stop.

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Speaker 3: You on the education though, that's fascinating, I have got

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Speaker 3: I cannot tell you how many tics are coming in

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Speaker 3: right now saying things like this, Hither it's indoctrinated schools

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Speaker 3: and universities. Hither it is unions who are influencing the teachers.

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Speaker 3: Is that a possibility, It's what's going on at school.

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Speaker 5: So we do see an element whereby university education is

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Speaker 5: associated with a greater likelihood of voting for parties on

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Speaker 5: the left. Now, that wasn't always the case. So that's

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Speaker 5: a newer cleavage that's emerging together with generational change. And

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Speaker 5: the other one which has really emerged is gender differences

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Speaker 5: in voter behavior. It used to be that women were

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Speaker 5: slightly further right and men were slightly further left. Over time,

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Speaker 5: that gender gap, it's reversed, so now women are further

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Speaker 5: men are further to the right. But also any gender

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Speaker 5: gaps in the past were very small, whereas over the

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Speaker 5: past ten years quite a big gender gap. How does emerge?

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Speaker 3: Sarah, thank you for talking us through. And I just

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Speaker 3: find that absolutely fascinating. That's doctor Sarah Cameron, who's a

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Speaker 3: political scientist at Griffith University. Millennials have always been a

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Speaker 3: bit strange, and they now. So I was walking through

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Speaker 3: the newsroom this afternoon and I looked up and I

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Speaker 3: caught a copped an eye full of Sky TV and

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Speaker 3: this was the banner across the bottom, Victoria to apologize

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Speaker 3: for colonization. And I said, guys, did you read this?

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Speaker 3: Is this a real thing? When and googled it? Yes,

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Speaker 3: In fact, the state of Victoria is going to apologize

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Speaker 3: for colonization. The Victorian government has put out a press

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Speaker 3: release announcing it's going to make an apology to First

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Speaker 3: Nations people for the harm inflicted upon them through the

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Speaker 3: actions and the inactions of the state and the colony

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Speaker 3: that came before her before it. It's going to be

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Speaker 3: a lot for Murray Olds to talk us through when

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Speaker 3: he's with us. Shortly sixteen past four.

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Speaker 1: It's the Heather to Bussy Alan Drive Full Show podcast

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Speaker 1: on iHeartRadio powered by News Talk zeb Heather.

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Speaker 3: Wow, I've never heard so much cleavage, Heather. It's just

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Speaker 3: like a big cleavage, Heather. Schools and universities have a cleavage,

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Speaker 3: And yeah, I know that's where your mind went, Hey,

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Speaker 3: out of the gutter. Come on four nineteen Sport.

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Speaker 1: With a tab app download and get your bet on

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Speaker 1: our eighteen bit responsibly.

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Speaker 3: Darcy water Grave Sports Talk Hoosters with us.

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Speaker 7: Cleavage is astonishing, isn't it When you think about it,

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Speaker 7: It's just a shadow, that's all it is. It's just

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Speaker 7: a shadow.

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Speaker 1: Sport with tab responsibly and.

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Speaker 3: Trying to remind you why you're actually indeed, I am here.

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Speaker 7: I am a sports talk host. It's between seven and

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Speaker 7: eight this evening on this fine station News Talk z

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Speaker 7: B and we are going to be having Shane Watson

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Speaker 7: on the show tonight who signed up for the Black Clash,

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Speaker 7: and we are looking to talk more as well around

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Speaker 7: the Commonwealth Games and whether people can traction on this

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Speaker 7: is a difficult one. So balancing who we're going to

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Speaker 7: get on. We're going to get talk on that. On

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Speaker 7: the comm games and traction.

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Speaker 3: This is a difficult one. Like people don't care.

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Speaker 7: Possibly some of them do, some of them don't. It's

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Speaker 7: interesting to see who does something very passionate about the

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Speaker 7: comm games. A lot of people are like, mah, what

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Speaker 7: does that actually mean? I got some opinions on this.

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Speaker 7: We'll do that later on the piece. But as far

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Speaker 7: as the ta B is concerned, Thanks very much to

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Speaker 7: the AKFC, even though I begged Steve Krik last weekend

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Speaker 7: and make sure your team beat Brisbane because that's my

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Speaker 7: anchor leg My seven leg Multi and they drew. Thanks

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Speaker 7: very much, guys that work for you. We are eighteen,

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Speaker 7: beat responsibly and don't beat what we can't afford to lose.

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Speaker 7: So it's all I do. It's a better fine, it's

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Speaker 7: ten bucks because I can afford to lose ten bucks.

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Speaker 7: I'm plainly not on the salary that a lot of

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Speaker 7: people are, but I do it. So this is what

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Speaker 7: I'm looking at this week race cars, because the Qatar

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Speaker 7: races on this weekend, and this is Formula One and

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Speaker 7: things have been really thrown up under the air. The

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Speaker 7: McLaren's basically got disqualified last week. So so I'm looking

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Speaker 7: at a combination because you can go on there and

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Speaker 7: you can find single Mace, single race Maltis on it.

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Speaker 7: So I'm looking at Max first app and warning it again.

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Speaker 7: Orlando Norris finishing on the podium, Kimmy Anton Nelly in

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Speaker 7: his merge finishing the top six and a points finished

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Speaker 7: for Liam Laws and that pays out just over fifteen bucks.

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Speaker 7: So that's how I'm going to run this week. Plenty

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Speaker 7: O here Wow. Yeah, I like Formula One. It does

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Speaker 7: add a little bit more to it. The interesting thing

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Speaker 7: of Formula one that was after what Liam Wowson did

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Speaker 7: last week was astonishing third ride the grid, first corner,

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Speaker 7: straight into pas Street. That was all over. So I

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Speaker 7: ran out of talent in the first third.

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Speaker 3: Hey, Darsie, what is the twenty three twenty thirty com

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Speaker 3: Games host city?

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Speaker 7: Am thatta bird?

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Speaker 3: What is INDI isn't that?

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Speaker 8: Yeah?

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Speaker 9: Is that all?

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Speaker 10: Hold on?

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Speaker 7: Is that twenty thirty or twenty thirty four?

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Speaker 3: No, that's twenty thirty, isn't it? It is twenty third?

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Speaker 7: It is twenty thirty because they're often.

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Speaker 3: Shaved us at the Games.

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Speaker 7: Well, I think that it's got to be take a

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Speaker 7: made and that's what they're doing in its form, even

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Speaker 7: though what they've peered it right down for Glasgow, which

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Speaker 7: is a good idea because it's not the Olympic Games.

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Speaker 7: It's got to stop pretending to be the Olympic Games.

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Speaker 7: It's an event. A people love going to events. So

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Speaker 7: you look at the Black Clash for example. Not a

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Speaker 7: lot rides on it, but it's an event and people

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Speaker 7: want to go to events. So a common game's over here.

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Speaker 7: Imagine if that gun, boot throwing and wood chopping you know,

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Speaker 7: some distinctly New Zealand flavors of course sevens at netball

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Speaker 7: and Da da Da da. But an event that people

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Speaker 7: want to go to, a well run event, it could

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Speaker 7: actually work, but they can't run simple simple like this

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Speaker 7: is an Olympic Games. Yes, it just isn't.

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Speaker 3: Thank you appreciate it, Darcy water Grove, Sports Talk Coast.

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Speaker 3: You'll be back at seven. It's full twenty.

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Speaker 1: Two, the headlines and the hard questions. It's the mic

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Speaker 1: asking breakfast.

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Speaker 11: Twenty five points. It was cash rate of two point

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Speaker 11: two five. Christian Orgsby's with us the five to one vote.

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Speaker 2: Who's the one not discussed?

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Speaker 9: Was it you?

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Speaker 12: And not discussed?

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Speaker 11: W Because I'm finding the FED fascinating. I know what

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Speaker 11: the FED thinks and they talk about it publicly. Wouldn't

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Speaker 11: we be better off if you guys did that.

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Speaker 13: I think we're probably on a pathway to do that.

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Speaker 10: We need to be careful though, because I look at

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Speaker 10: places like the UK and the US and you have

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Speaker 10: all these different members and different corners, and they fighting

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Speaker 10: their corner.

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Speaker 13: They're not listening to each other and sort of trying

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Speaker 13: to work towards the best outcoming.

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Speaker 10: What do you make of that?

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Speaker 12: If you're in the market.

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Speaker 11: Well, at least you know, though, don't you. Back Tomorrow

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Speaker 11: at six am the Mike Hosking Breakfast with the Defender.

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Speaker 2: News Talk ZEDB digging deeper into the DA's headlines.

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Speaker 1: It's Heather du the Clan Drive with One New Zealand

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Speaker 1: coverage like no one else News Talk ZBB Listen.

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Speaker 3: Today, the governments announced the expected inquiry into the handling

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Speaker 3: of the Tom Phillips case. It's not looking into the

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Speaker 3: court as and how the family Court dealt with it,

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Speaker 3: just looking at how the police and audung A tabidicky

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Speaker 3: handled it. My suspicion is that they will find that

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Speaker 3: police should have gone a lot earlier. But a lot

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Speaker 3: of this hangs on the suppressed stuff, right. So anyway,

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Speaker 3: Judith Collins is with us after five o'clock and we'll

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Speaker 3: see what she's got to say about that. But now

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Speaker 3: look across the ditch for worst kept secret in politics

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Speaker 3: is now barneyby Joyce has just announced that he's quit

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Speaker 3: the Nationals.

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Speaker 14: In any relationship, when it breaks down, you just got

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Speaker 14: to get to a point where you either live in

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Speaker 14: sort of better recrimination and continue on with it, or

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Speaker 14: you get out of it. And I think that's what

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Speaker 14: I'm doing today, is I'm getting.

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Speaker 2: Out of it.

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Speaker 3: I tell you what I mean. It sounds super dysfunctional.

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Speaker 3: He says that the party leader basically gave him about

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Speaker 3: ninety seconds worth of conversation and that was the end

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Speaker 3: of that. Now, we were all expecting him to announce

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Speaker 3: that he was going to go to Paul Hanson, Pauline

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Speaker 3: Hanson's One Nation Party pretty much immediately, but he says

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Speaker 3: he hasn't made a call on it just yet.

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Speaker 14: I haven't made that decision yet. I've made a decision

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Speaker 14: this week. Well that's I don't know I've made that decision.

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Speaker 3: Yeah, well, who knows. An interesting move from him, because

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Speaker 3: of course it's the last sitting day of the year

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Speaker 3: over in Australia, so he's basically just reshaped parliament over there.

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Speaker 3: We'll have a chat to Murray Olds when he's with

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Speaker 3: us on this shortly. He's going to be with us

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Speaker 3: in about ten minutes time. Herether on the millennials being

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Speaker 3: more liberal. I think it's because of climate change in

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Speaker 3: the so called crisis. They've only been around for about

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Speaker 3: fifteen years and they worried up. No, no, no, Diana,

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Speaker 3: the millennials me, I'm the millennials right. So it's people

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Speaker 3: who are like, how old are the millennials? Ants? I

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Speaker 3: am the topic?

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Speaker 15: Nine to forty five?

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Speaker 3: Twenty nine to forty five, Okay. The problem with the

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Speaker 3: millennials is how many twenty nine year olds do you

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Speaker 3: know nowadays who own a house and have children. There's

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Speaker 3: your problem. Once they settle down, they're gonna stop worry

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Speaker 3: about climate change, worry about their mortgage and their rates.

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Speaker 3: News is next sway.

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Speaker 1: The day's newspeakers talked to Heather first Heather Duplicy Ellen

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Speaker 1: Drive with One New Zealand and the power of satellite

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Speaker 1: mobile new Stalks said be.

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Speaker 3: I told judiph of that, so can you come yours.

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Speaker 2: Forty?

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Speaker 3: It's Netflix back up because apparently it crashed. It crashed

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Speaker 3: this afternoon. What time did it crash, Laura? Was it

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Speaker 3: two thirty or three thirty?

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Speaker 9: Was it three?

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Speaker 3: Okay, so this thing happened today. So today another broadcaster

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Speaker 3: I'm not gonna name, Radio New Zealand had as one

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Speaker 3: of their leads. So they are so weird that they

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Speaker 3: had is one of their lead stories this morning, the

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Speaker 3: fact that Netflix's Last was going to release the last

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Speaker 3: ever series of Stranger Things. I looked at that and

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Speaker 3: I was like, what is this really that important? So

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Speaker 3: I know, I came to work and I asked these guys,

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Speaker 3: it's like a Stranger Things, like the biggest show in

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Speaker 3: the whole wide world. And we I don't think that

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Speaker 3: we settled on yes, because I don't remember Radio New

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Speaker 3: Zealand going the last the last ever series of the

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Speaker 3: Morning Show is going to drop this afternoon at eight o'clock. No, No,

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Speaker 3: they didn't do that. They weren't like Wednesday Adams, this

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Speaker 3: show is going to drop tonight, So why on earth

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Speaker 3: was it Stranger Things is going to drop it? I

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Speaker 3: didn't I didn't get it. Anyway, it turns out it

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Speaker 3: must We were we were undecided. We were like, oh maybe,

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Speaker 3: huh anyway, crash Netflix. So it was obviously a big thing,

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Speaker 3: wasn't it? But was it really that big a thing? Anyway?

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Speaker 3: We don't know is Netflix up? I don't know. I

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Speaker 3: mean we're actually doing, we're working. So there millennials who

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Speaker 3: are actually working at the moment and have no idea

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Speaker 3: what's going on on Netflix. But anyway, if you go

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Speaker 3: to Netflix, this is like a PSA. If you go

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Speaker 3: to Netflix and it's not working, it's because everybody's watching

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Speaker 3: Stranger Things when they should be working. Murray Holds is

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Speaker 3: with us shortly twenty three away from five.

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Speaker 2: It's the world wires on news talks. They'd be drive.

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Speaker 3: Three people have now been arrested after the apartment fire

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Speaker 3: in Hong Kong that killed at least forty four people.

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Speaker 3: Two of the people arrested are directors of a construction

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Speaker 3: firm and one is an engineering consultant, and the local

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Speaker 3: fire service says it's been a hard blaze to fight.

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Speaker 16: The temperature inside the buildings concerned are very high, so

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Speaker 16: it's quite difficult for us to enter the building and

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Speaker 16: go up sirs to conduct the firefighting and rescue operation.

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Speaker 3: Over in the US, two National guardsmen have been shot

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Speaker 3: in Washington, DC. Here's the FBI director Cashptel. Two of

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Speaker 3: our brave members of the National Guard and the Department

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Speaker 3: of War were brazenly attacked in a horrendous act of violence.

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Speaker 2: They were shot.

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Speaker 4: They're in critical condition.

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Speaker 3: The suspected tutor is now in custody. And finally cocaine.

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Speaker 3: So there's a guy who coaches underrates for football in

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Speaker 3: Northern Ireland and he's been banned because it would appear

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Speaker 3: that he's mixed up the group chats. So the coach,

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Speaker 3: apparently by accident, messaged a league wide group chat with

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Speaker 3: other coaches with a priceless for bags of cocaine and

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Speaker 3: from the looks of the message, the coke was slinging.

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Speaker 3: The coach was slinging coke from six am to ten pm,

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Speaker 3: so pretty much all day and promised proper pure bags.

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Speaker 1: Only 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 3: Murrayold's Asy correspondence with us right now, heymus and.

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Speaker 9: Very good afternoon, Heaps.

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Speaker 3: So tell me more about the Victorian government apologizing for colonization.

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Speaker 9: Yeah, this is being reported over here this afternoon by

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Speaker 9: Sky News. Has been a news release from the government

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Speaker 9: saying that yes, an apology will be made formal apology

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Speaker 9: in the Parliament two indigenous people from Victoria. The apology

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Speaker 9: will be made for quote the harm inflicted upon them

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Speaker 9: through the actions and inactions of the state and the

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Speaker 9: colony that came before it. Now, the apology is a

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Speaker 9: key recommendation of the europe It's called a europe Justice Commission,

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Speaker 9: and it was a key part of the treaty that

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Speaker 9: was recently signed the law a couple of weeks back, now,

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Speaker 9: the first such treaty in Australian history ever. And it

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Speaker 9: does formally acknowledge past and justice. It sets up new

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Speaker 9: institutions for accountability and telling the truth about what really happened,

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Speaker 9: you know, centuries ago. And basically it allows First Nations

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Speaker 9: people to actually have a bit more of a say

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Speaker 9: in the decision making that directly affects them. Now, critics

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Speaker 9: are all over this. I was wishy washy, you know,

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Speaker 9: it's just it's that it's the federal decision that was

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Speaker 9: knocked back by the people. But at the state level,

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Speaker 9: the supporters say it's actually a wonderful even the great

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Speaker 9: outcome and the process that started here the back in

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Speaker 9: twenty sixteen. The state government's also committed to including a

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Speaker 9: whole bunch of new stuff in the education curriculum, which

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Speaker 9: I suppose in a way it mirrors what's happened in

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Speaker 9: New Zealand in terms of using traditional names, indigenous names

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Speaker 9: for areas, for regions, for the waterways and the like,

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Speaker 9: and other measures to basically improve outcomes for Victoria's Aboriginal people.

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Speaker 9: So I suppose the prop's going to be in the

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Speaker 9: eating right, they're pudding. It looks pretty nice according to

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Speaker 9: the supporters, But let's see how it actually young.

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Speaker 3: But so are they So it's not so much that

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Speaker 3: they're apologizing for colonization. They're apologizing for what they consider

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Speaker 3: to be the evils that were done in the process

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Speaker 3: of colonization.

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Speaker 9: Well very much. So, yeah, what's my interpretation of it.

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Speaker 9: I mean, that's the way the treaty reads that. Yes,

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Speaker 9: I mean, you know, I mean, but James Cook, the

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Speaker 9: first fleet was not the first people in Australia. They've

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Speaker 9: been there for sixty five thousand years. And the you know,

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Speaker 9: the Europeans who arrived on the first eleven ships, most

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Speaker 9: of them convicts. It was the start of you know,

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Speaker 9: many people say oppression, the start of dispossession of land

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Speaker 9: and waterways and the things that matter to Indigenous Australians.

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Speaker 9: So it's a very divisive issue, as you might expect.

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Speaker 9: Those on the rights say, oh, it's buddy nonsense, it's rubbish.

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Speaker 9: Those who are more progressive so it's actually it's a

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Speaker 9: very good thing. It's a good thing the state can

436
00:21:34,000 --> 00:21:37,440
Speaker 9: acknowledge past injustice. So it just remains to be seen

437
00:21:37,480 --> 00:21:39,680
Speaker 9: how this, you know, I mean, how's it going to

438
00:21:39,720 --> 00:21:40,040
Speaker 9: play out?

439
00:21:40,080 --> 00:21:41,439
Speaker 3: That's what we all want to Yeah, yeah, you're right,

440
00:21:41,440 --> 00:21:42,720
Speaker 3: We've got to see the wording of the thing to

441
00:21:43,000 --> 00:21:45,280
Speaker 3: really judge it. Now, what's happened to Barnaby Joyce that

442
00:21:45,359 --> 00:21:46,960
Speaker 3: he hasn't gone off with his girlfriend Pauline?

443
00:21:48,920 --> 00:21:52,520
Speaker 9: Well, he cooked a misteak dinner the other night in

444
00:21:52,600 --> 00:21:54,200
Speaker 9: the sandwich Maker. Would you believe it?

445
00:21:54,440 --> 00:21:59,600
Speaker 3: Yeah, of course, But be that as it may.

446
00:22:00,400 --> 00:22:03,720
Speaker 9: Yes, he is now formally ended. He's been in Parliament

447
00:22:03,840 --> 00:22:08,040
Speaker 9: twenty years. He is one of the safest seats in Australia.

448
00:22:08,200 --> 00:22:10,360
Speaker 9: The people of Northern New South Wales and his seat

449
00:22:10,400 --> 00:22:13,840
Speaker 9: and young they love him, even though he's a fair nakhim.

450
00:22:13,880 --> 00:22:16,920
Speaker 9: You're thinking a guy's just a lunatic. And I mean

451
00:22:17,280 --> 00:22:19,639
Speaker 9: even as one of his own supporters when it was

452
00:22:19,720 --> 00:22:22,639
Speaker 9: closest mates in Parliament accused him the other day of

453
00:22:22,720 --> 00:22:26,959
Speaker 9: having attention deficit syndrome. I mean, he just wasn't being

454
00:22:27,000 --> 00:22:30,000
Speaker 9: talked about enough. So yes, he's quit after twenty years

455
00:22:30,040 --> 00:22:32,119
Speaker 9: with the Nationals. He's going to defect from the party.

456
00:22:32,520 --> 00:22:34,280
Speaker 9: Looks like he's going to sit as an independent for

457
00:22:34,359 --> 00:22:37,520
Speaker 9: the moment. He'll keep trailing his coat with Pauline looking

458
00:22:37,560 --> 00:22:42,960
Speaker 9: for a headline here and there. Anyway, it's what's it matter.

459
00:22:43,119 --> 00:22:45,199
Speaker 9: I mean the guys that has been really I mean,

460
00:22:45,440 --> 00:22:47,919
Speaker 9: his people up in his electorate love him. No one

461
00:22:48,000 --> 00:22:49,840
Speaker 9: in Parliament does. He's just a bit of a joke,

462
00:22:50,080 --> 00:22:50,800
Speaker 9: sad joke.

463
00:22:50,680 --> 00:22:53,120
Speaker 3: Sadly maz, thank you, I appreciate it. I'm looking forward

464
00:22:53,119 --> 00:22:54,520
Speaker 3: to seeing how that goes down with the two of them.

465
00:22:54,560 --> 00:22:59,119
Speaker 3: Murray Old's Australia correspondent. I'm seventeen away from five Heather Dupersla.

466
00:23:00,240 --> 00:23:03,920
Speaker 3: So the new CEO of Air New Zealand just continues

467
00:23:04,000 --> 00:23:07,440
Speaker 3: to say weird things. Today he's complaining to Business Desk,

468
00:23:07,640 --> 00:23:10,479
Speaker 3: we're reporting it. He's complaining about airports in New Zealand

469
00:23:10,560 --> 00:23:15,120
Speaker 3: giving Jet Star discounts like sweetheart deals, which helps Jetstar

470
00:23:15,200 --> 00:23:19,360
Speaker 3: to undercut Air New Zealand. Now his complaint is that, sure,

471
00:23:19,440 --> 00:23:21,000
Speaker 3: the discounts are a thing, and they do it all

472
00:23:21,040 --> 00:23:23,119
Speaker 3: the time, and that's fine, but the discounts are supposed

473
00:23:23,119 --> 00:23:25,560
Speaker 3: to have like an endler, you know, an end point,

474
00:23:25,680 --> 00:23:28,680
Speaker 3: and in his to his mind, they just keep going

475
00:23:28,760 --> 00:23:30,800
Speaker 3: on and on and on and on, and the airports

476
00:23:30,880 --> 00:23:33,040
Speaker 3: keep on trying to help Jetstar. Anyway, the airports have

477
00:23:33,080 --> 00:23:35,000
Speaker 3: come back because they've got a little you know, union

478
00:23:35,040 --> 00:23:38,560
Speaker 3: of airports, and the spokesperson says it's complete nonsense. Airport

479
00:23:38,680 --> 00:23:41,440
Speaker 3: charges across the domestic network typically in the range of

480
00:23:41,480 --> 00:23:44,040
Speaker 3: ten to twenty dollars. They are not the reason that

481
00:23:44,119 --> 00:23:46,320
Speaker 3: Air New Zealand is charging up to one thousand dollars

482
00:23:46,400 --> 00:23:49,200
Speaker 3: for a return fare. That argument simply does not stand

483
00:23:49,280 --> 00:23:53,119
Speaker 3: up to scrutiny. Here here, Billy Moore. Anyway, what is

484
00:23:53,240 --> 00:23:55,800
Speaker 3: weird about this is that the new CEO of Air

485
00:23:55,920 --> 00:23:58,840
Speaker 3: New Zealand since he's taken the job, just all he's

486
00:23:58,880 --> 00:24:01,000
Speaker 3: done is complain about how hard it is to run

487
00:24:01,040 --> 00:24:03,679
Speaker 3: an airline. If it's so bloody hard to run an airline,

488
00:24:03,680 --> 00:24:05,159
Speaker 3: why did you take the job running an airline? But

489
00:24:05,200 --> 00:24:06,440
Speaker 3: whatever it look, I'm not going to judge you. You

490
00:24:06,520 --> 00:24:09,040
Speaker 3: do what you need to do. But anyway, you know,

491
00:24:09,280 --> 00:24:11,879
Speaker 3: you know I'm warming up, aren't I. I'm like, I'm

492
00:24:11,960 --> 00:24:14,520
Speaker 3: like Barnaby and Pauline. I'm warming up to jet Star.

493
00:24:15,119 --> 00:24:17,880
Speaker 3: I'm getting there with Jetstar Jet Stars on the show

494
00:24:17,960 --> 00:24:18,960
Speaker 3: after half past five.

495
00:24:19,520 --> 00:24:23,800
Speaker 1: Politics is next, Politics with Centric Credit, check your customers

496
00:24:23,840 --> 00:24:25,480
Speaker 1: and get payments certainty, Heather.

497
00:24:25,560 --> 00:24:28,399
Speaker 3: Netflix is working for me and Wellington the ego. Netflix

498
00:24:28,520 --> 00:24:29,800
Speaker 3: is up again. If you want to what well I mean,

499
00:24:29,840 --> 00:24:31,359
Speaker 3: you wait till seven o'clock, then you can watch it.

500
00:24:31,359 --> 00:24:33,320
Speaker 3: Then wait till seven o'clock like a normal person to

501
00:24:33,400 --> 00:24:35,360
Speaker 3: watch taly and then you can watch it. Thirteen away

502
00:24:35,359 --> 00:24:38,159
Speaker 3: from five and Thomas Coglin, the Herald's political editors, with me,

503
00:24:38,240 --> 00:24:41,040
Speaker 3: Hi Thomas, good afternoon. Right, so we've got the inquiry

504
00:24:41,080 --> 00:24:41,840
Speaker 3: into Tom Phillips.

505
00:24:41,920 --> 00:24:45,880
Speaker 17: Yes, yes, yes we do so announceday a general inquiry

506
00:24:45,920 --> 00:24:51,000
Speaker 17: into the government's actions during that led to the Tom

507
00:24:51,040 --> 00:24:55,000
Speaker 17: Phillips sort of situation. Some thing's excluded specific decisions at

508
00:24:55,000 --> 00:24:57,280
Speaker 17: the family court, but it's quite a wide ranging inquiry

509
00:24:58,119 --> 00:25:01,200
Speaker 17: into the decisions of furious government agencies during that period,

510
00:25:01,480 --> 00:25:03,520
Speaker 17: and it ends basically at the time that the children

511
00:25:03,760 --> 00:25:05,920
Speaker 17: were found and taken back into stake here.

512
00:25:06,119 --> 00:25:08,600
Speaker 3: Okay, obviously, and I'm not going to ask you to

513
00:25:08,600 --> 00:25:11,520
Speaker 3: comments on it, but the obvious problem here is that

514
00:25:11,960 --> 00:25:15,159
Speaker 3: there is there is suppression on very key elements of this,

515
00:25:15,680 --> 00:25:17,720
Speaker 3: which means that it's going to limit isn't it what

516
00:25:18,280 --> 00:25:21,080
Speaker 3: they can talk about publicly, And it's probably the reason

517
00:25:21,080 --> 00:25:23,080
Speaker 3: why it's private rather than publicly out.

518
00:25:23,760 --> 00:25:27,760
Speaker 17: Yes, precisely, it is a It is an incredibly complicated

519
00:25:27,840 --> 00:25:30,520
Speaker 17: inquiry and obviously there are some real questions to be

520
00:25:31,240 --> 00:25:34,840
Speaker 17: asked and answered here because there's clearly some mistakes were

521
00:25:34,880 --> 00:25:37,760
Speaker 17: made at a point along the way. But obviously, given

522
00:25:38,000 --> 00:25:41,920
Speaker 17: given the massive sensitives around what happened, the government is

523
00:25:41,960 --> 00:25:44,320
Speaker 17: sort of limited and where it can go and what

524
00:25:44,400 --> 00:25:45,240
Speaker 17: it can do at the stage.

525
00:25:45,400 --> 00:25:48,800
Speaker 3: Yeah, Now, it doesn't sound like labor loves having Michael

526
00:25:48,840 --> 00:25:50,200
Speaker 3: Wood back, is it.

527
00:25:50,400 --> 00:25:50,560
Speaker 4: Yes?

528
00:25:51,320 --> 00:25:54,600
Speaker 17: Well, and that's that's a very various dute observation. And

529
00:25:54,840 --> 00:25:56,440
Speaker 17: I guess to that you'd have to say, well, which

530
00:25:56,520 --> 00:25:59,639
Speaker 17: part of Labor is not happy about having Michael Wood back.

531
00:25:59,680 --> 00:26:00,760
Speaker 10: I think there is.

532
00:26:00,800 --> 00:26:04,320
Speaker 17: Obviously the Chrisipkins kind of project is quite a centerius project.

533
00:26:04,359 --> 00:26:06,639
Speaker 17: He's obviously been pulled aweep it to the left and

534
00:26:06,720 --> 00:26:10,159
Speaker 17: opposition agreeing to this capital gains tax. But Michael Woods

535
00:26:10,200 --> 00:26:14,359
Speaker 17: beloved of the party's left. He is beloved of the

536
00:26:14,400 --> 00:26:16,440
Speaker 17: party's of progressive wing, and is a bit of a

537
00:26:16,480 --> 00:26:19,720
Speaker 17: standard bearer for that that part of the party. And

538
00:26:19,960 --> 00:26:22,000
Speaker 17: and and so that part of the party is very

539
00:26:22,040 --> 00:26:26,360
Speaker 17: excited to have Michael Wood back. And in Chrisippins pre interview,

540
00:26:26,760 --> 00:26:29,119
Speaker 17: sorry pre conference interviews later, it's got this conference this weekend,

541
00:26:29,800 --> 00:26:31,479
Speaker 17: he told the Post, and he actually told the Heralds

542
00:26:31,520 --> 00:26:36,080
Speaker 17: as well, that that that Michael Wood is gonna have

543
00:26:36,119 --> 00:26:38,680
Speaker 17: to sort of, you know, win back some trust in

544
00:26:38,880 --> 00:26:43,600
Speaker 17: order to elevate himself within within the Labor Party and

545
00:26:43,720 --> 00:26:46,399
Speaker 17: into a potential Labor cabinet should it win the election.

546
00:26:46,880 --> 00:26:50,680
Speaker 17: What is the trust that he's breached, Well, I suppose

547
00:26:50,720 --> 00:26:55,840
Speaker 17: it's it relates to the the circumstances of his office,

548
00:26:55,960 --> 00:27:00,160
Speaker 17: the grace, the shares, and I mean you know, I'm

549
00:27:00,160 --> 00:27:02,400
Speaker 17: not sure about you, but personally, I think he's probably

550
00:27:03,359 --> 00:27:05,639
Speaker 17: probably served his time on that one. Like it was

551
00:27:05,680 --> 00:27:11,119
Speaker 17: definitely embarrassing and definitely a total screw up, but obviously

552
00:27:11,720 --> 00:27:14,400
Speaker 17: he got what he had to resign, he lost the seat,

553
00:27:14,480 --> 00:27:16,720
Speaker 17: he's served his time on the bench, and I probably

554
00:27:16,760 --> 00:27:19,440
Speaker 17: think it's that's probably the punishment fitting the crime.

555
00:27:20,359 --> 00:27:22,800
Speaker 3: Yep. I look, I would agree with you. Did you

556
00:27:22,880 --> 00:27:24,920
Speaker 3: think he still harbor his aspirations to be the leader?

557
00:27:24,960 --> 00:27:26,919
Speaker 3: And is that probably part of the reason maybe why

558
00:27:27,040 --> 00:27:28,480
Speaker 3: Chippy's not super keen on it.

559
00:27:28,920 --> 00:27:33,760
Speaker 17: I would say that most in peace, I think, contemplate

560
00:27:34,119 --> 00:27:35,960
Speaker 17: a circumstance which would see them as the leader of

561
00:27:35,960 --> 00:27:38,280
Speaker 17: their party and perhaps the prime minister. And I think

562
00:27:38,280 --> 00:27:40,440
Speaker 17: Michael would have certainly one of them. And certainly, you know,

563
00:27:40,760 --> 00:27:44,040
Speaker 17: he's an ambitious guy who's decided to give politics another cracks,

564
00:27:44,080 --> 00:27:46,200
Speaker 17: So you know that sort of speaks for itself.

565
00:27:45,920 --> 00:27:47,640
Speaker 3: Now, I suppose. So Hey, thank you very much, Thomas.

566
00:27:47,640 --> 00:27:49,920
Speaker 3: I really appreciate it. Thomas Coldlan, the Herald's political editor.

567
00:27:50,560 --> 00:27:53,400
Speaker 3: Here's here's Audrey Young's newsletter this week. Let me read

568
00:27:53,440 --> 00:27:56,880
Speaker 3: you a portion from it. Speaking of books, News talk

569
00:27:56,960 --> 00:27:59,560
Speaker 3: Z'DB host here the duplacy. Allen told listeners this week

570
00:27:59,640 --> 00:28:02,760
Speaker 3: that Marry Soper, her regular senior political correspondent, would be

571
00:28:02,840 --> 00:28:05,479
Speaker 3: off this week because he was putting the finishing touches

572
00:28:05,520 --> 00:28:07,800
Speaker 3: to his book. It is an anecdotal account of the

573
00:28:07,840 --> 00:28:10,480
Speaker 3: twelve prime ministes he's covered since the nineteen seventies. And

574
00:28:10,520 --> 00:28:12,280
Speaker 3: if you know it, if you know Barry like we do,

575
00:28:13,200 --> 00:28:17,240
Speaker 3: he'll dwell extensively on his time with Muldoon. In fact,

576
00:28:17,520 --> 00:28:21,160
Speaker 3: I wouldn't be surprised if every chapter refers back to Muldoon,

577
00:28:21,240 --> 00:28:23,240
Speaker 3: Like he'll just segue in the middle of Jacinda and

578
00:28:23,359 --> 00:28:26,480
Speaker 3: just start talking about one time during Muldoon's time. It's

579
00:28:26,520 --> 00:28:30,160
Speaker 3: being published, but it was must have been as good times,

580
00:28:30,440 --> 00:28:31,639
Speaker 3: do you know what I mean? Like those were the

581
00:28:31,680 --> 00:28:34,200
Speaker 3: halcyon days where you could just drink and smoke and

582
00:28:34,320 --> 00:28:36,359
Speaker 3: do all this stuff and nobody really cared, so the

583
00:28:36,400 --> 00:28:39,440
Speaker 3: Prime Minister was doing it in public. It's being published

584
00:28:39,440 --> 00:28:42,000
Speaker 3: by HarperCollins later next year, and Soper tells me as

585
00:28:42,040 --> 00:28:44,640
Speaker 3: in like Soper tells Audrey that Helen Clark and John

586
00:28:44,680 --> 00:28:48,000
Speaker 3: Key have agreed to write the forward. The cinder must

587
00:28:48,040 --> 00:28:51,040
Speaker 3: have said no nine away from five, oh, I should

588
00:28:51,080 --> 00:28:55,440
Speaker 3: actually more, the most important part actually of Audrey's newsletter,

589
00:28:55,440 --> 00:28:58,680
Speaker 3: and Audrey is an authority on these things, is her

590
00:28:58,720 --> 00:29:01,760
Speaker 3: piece on the so coup that was happening in the

591
00:29:01,800 --> 00:29:04,360
Speaker 3: National Party. Here lemme read it. There has been one

592
00:29:04,400 --> 00:29:07,480
Speaker 3: important outcome, however, of the chat, and that is that

593
00:29:07,600 --> 00:29:10,640
Speaker 3: Bishop can be considered the principal alternative to Luxeon if

594
00:29:10,680 --> 00:29:14,040
Speaker 3: it came to it. There will be no coup that

595
00:29:14,120 --> 00:29:16,520
Speaker 3: would ensure a landslide defeat for the party. But in

596
00:29:16,600 --> 00:29:19,800
Speaker 3: the unlikely event that National's polling did hit hit the

597
00:29:19,880 --> 00:29:23,600
Speaker 3: mid twenties next year, Luxon would be likely to step aside,

598
00:29:24,000 --> 00:29:26,520
Speaker 3: and Bishop has become the most likely to succeed him

599
00:29:26,800 --> 00:29:28,960
Speaker 3: in such circumstances. And then she goes on to say

600
00:29:29,000 --> 00:29:31,280
Speaker 3: that the chat didn't just come out of out of nowhere,

601
00:29:31,360 --> 00:29:33,960
Speaker 3: and it wasn't Matthew Houghton's stirring nonsense like he you know,

602
00:29:34,200 --> 00:29:36,480
Speaker 3: occasionally does. It was real, and it came from the

603
00:29:36,520 --> 00:29:39,360
Speaker 3: EPSOS monitor pole, which was released last week. But so basically,

604
00:29:39,360 --> 00:29:41,400
Speaker 3: if we could tie a bow on this thing, there

605
00:29:41,480 --> 00:29:44,920
Speaker 3: really was chat, There really was consideration. It came because

606
00:29:44,920 --> 00:29:47,520
Speaker 3: of the IPSOS monitor pole, which put laborer ahead, you know,

607
00:29:47,680 --> 00:29:49,520
Speaker 3: read the cost of living, but it has now had

608
00:29:49,520 --> 00:29:51,240
Speaker 3: a lid put on it. There will be no coup

609
00:29:51,680 --> 00:29:54,120
Speaker 3: watch if the polling hits mid twenty next next year,

610
00:29:54,160 --> 00:29:58,240
Speaker 3: and then Luxen will stand down. Thank you, Audrey. Okay,

611
00:30:01,240 --> 00:30:04,120
Speaker 3: it's five away from five. I can't quite believe it,

612
00:30:04,320 --> 00:30:06,440
Speaker 3: but somehow there are people in this country who have

613
00:30:06,560 --> 00:30:08,719
Speaker 3: managed to take that math success story that we were

614
00:30:08,760 --> 00:30:10,600
Speaker 3: talking about earlier this week and turn it into something

615
00:30:10,640 --> 00:30:13,000
Speaker 3: that they're not happy about. So this is the Principal's

616
00:30:13,080 --> 00:30:15,800
Speaker 3: Federation which has gone public with the fact that they're

617
00:30:15,840 --> 00:30:18,240
Speaker 3: not happy with the math results from Erica Stanford this week.

618
00:30:18,280 --> 00:30:19,880
Speaker 3: Now you know what we're talking about, right, This is

619
00:30:19,920 --> 00:30:22,440
Speaker 3: where they took the year sevens and eights who were

620
00:30:22,440 --> 00:30:24,920
Speaker 3: struggling with maths, and then they taught them really intensively

621
00:30:25,040 --> 00:30:27,360
Speaker 3: maths for twelve weeks and then at the end of

622
00:30:27,400 --> 00:30:30,200
Speaker 3: that those kids had caught up on like two years

623
00:30:30,280 --> 00:30:30,960
Speaker 3: worth of maths.

624
00:30:31,040 --> 00:30:31,160
Speaker 10: Right.

625
00:30:31,720 --> 00:30:34,320
Speaker 3: So the problem that the Principal's Federation has with us

626
00:30:34,400 --> 00:30:37,040
Speaker 3: is that they reckon that everything's been gained to look

627
00:30:37,120 --> 00:30:40,080
Speaker 3: better than it actually is. Their problem is that the

628
00:30:40,160 --> 00:30:42,400
Speaker 3: kids were tested at the start, so they were tested

629
00:30:42,440 --> 00:30:45,800
Speaker 3: on a thing, then they were taught the thing for

630
00:30:45,960 --> 00:30:48,440
Speaker 3: twelve weeks, and then they were tested on the thing

631
00:30:48,520 --> 00:30:50,520
Speaker 3: at the end of the twelve weeks, and they did

632
00:30:50,640 --> 00:30:52,239
Speaker 3: better at the end of the twelve weeks because they

633
00:30:52,280 --> 00:30:53,880
Speaker 3: just met the last twelve weeks learning the thing, so

634
00:30:53,960 --> 00:30:56,960
Speaker 3: of course they were going to do better at it. That,

635
00:30:57,440 --> 00:31:02,120
Speaker 3: my friends, is how education works. Like that is literally

636
00:31:02,520 --> 00:31:05,240
Speaker 3: what we are supposed to be doing to kids all year.

637
00:31:05,720 --> 00:31:08,320
Speaker 3: Every year. We're supposed to teach them for six months

638
00:31:08,440 --> 00:31:10,240
Speaker 3: or a year and then test them on the things

639
00:31:10,280 --> 00:31:12,320
Speaker 3: that we've just taught them and see if they know

640
00:31:12,520 --> 00:31:14,200
Speaker 3: the things that we just taught them. And of course

641
00:31:14,240 --> 00:31:15,920
Speaker 3: they should be better because they just spend the last

642
00:31:15,920 --> 00:31:19,480
Speaker 3: bloody whatever learning the things. Anyway, the fact that the

643
00:31:19,560 --> 00:31:22,320
Speaker 3: principles are upset that this is how it works suggests

644
00:31:22,320 --> 00:31:24,160
Speaker 3: to me that maybe they don't know how education works,

645
00:31:24,200 --> 00:31:25,880
Speaker 3: and maybe that is fundamentally the problem that we have

646
00:31:25,960 --> 00:31:29,440
Speaker 3: with the education. Anyway. The next problem that they have

647
00:31:29,800 --> 00:31:32,040
Speaker 3: is that they think it doesn't really show you the

648
00:31:32,040 --> 00:31:34,720
Speaker 3: difference between the kids memorizing the maths and long term

649
00:31:34,840 --> 00:31:38,480
Speaker 3: learning the maths. Again, that will be tested with another

650
00:31:38,520 --> 00:31:40,640
Speaker 3: test that would happen in another twelve weeks to see

651
00:31:40,640 --> 00:31:42,440
Speaker 3: whether they can still retain the stuff that that went

652
00:31:43,680 --> 00:31:47,000
Speaker 3: honestly all or I just I feel like before any

653
00:31:47,040 --> 00:31:49,360
Speaker 3: of these education here's my tip to the educators gave

654
00:31:49,400 --> 00:31:51,760
Speaker 3: before you're going to go out and winge about what

655
00:31:51,880 --> 00:31:55,200
Speaker 3: appears to be a massive and welcome turnaround in education.

656
00:31:55,640 --> 00:31:57,360
Speaker 3: Just go out and find any normal person out on

657
00:31:57,400 --> 00:31:59,280
Speaker 3: the street, right, Just any normal person. Just grab them

658
00:31:59,320 --> 00:32:00,760
Speaker 3: and be like, hey, can I just tell you something?

659
00:32:01,280 --> 00:32:03,040
Speaker 3: Just test this on you and just see what you think.

660
00:32:03,280 --> 00:32:04,880
Speaker 3: And if they look at you like you're an idiot,

661
00:32:05,360 --> 00:32:07,760
Speaker 3: don't say it out loud. Now we're going to talk

662
00:32:07,880 --> 00:32:11,080
Speaker 3: next to Judith Collins about the Tom Phillips inquiry. After

663
00:32:11,240 --> 00:32:13,880
Speaker 3: that we'll have a chat about the class action lawsuit

664
00:32:13,880 --> 00:32:17,240
Speaker 3: against Transpower, and then the Reserve Bank is worried that

665
00:32:17,360 --> 00:32:20,040
Speaker 3: we don't have enough access to cash, especially in rural

666
00:32:20,080 --> 00:32:22,240
Speaker 3: areas where the banks and the ATMs are disappearing. They've

667
00:32:22,280 --> 00:32:25,000
Speaker 3: got a solution. We'll talk through NEWSS.

668
00:32:45,960 --> 00:32:48,640
Speaker 1: The only drive show you can trust truck to ask

669
00:32:48,720 --> 00:32:53,840
Speaker 1: the questions, get the answers, find the and give the analysis.

670
00:32:54,280 --> 00:32:57,520
Speaker 1: Here the duplicy Ellen Drive with One New Zealand and

671
00:32:57,680 --> 00:33:00,360
Speaker 1: the power of Satellite Mobile Newstalk.

672
00:33:01,520 --> 00:33:04,280
Speaker 3: Good Afternoon. The government has announced the public Inquiry into

673
00:33:04,320 --> 00:33:07,160
Speaker 3: the Tom Phillips case. It'll be led by Justice Simon

674
00:33:07,240 --> 00:33:10,880
Speaker 3: Moore Casey in private without public hearings to protect the children,

675
00:33:11,240 --> 00:33:13,880
Speaker 3: and it will investigate where the government agencies like the police,

676
00:33:13,920 --> 00:33:16,360
Speaker 3: took all practicable steps to protect the children and get

677
00:33:16,400 --> 00:33:18,400
Speaker 3: them back due to the Collins Is the Attorney General,

678
00:33:18,480 --> 00:33:21,160
Speaker 3: Hi Judith oh, Hi Heather, does the fact that you've

679
00:33:21,200 --> 00:33:23,440
Speaker 3: called this inquiry suggest that you do not think or

680
00:33:23,480 --> 00:33:25,479
Speaker 3: you're not sure that they took all practical steps?

681
00:33:26,520 --> 00:33:29,120
Speaker 18: Well, I, like many other members of the public, would

682
00:33:29,200 --> 00:33:32,800
Speaker 18: like to know exactly what was done and when, and

683
00:33:33,120 --> 00:33:36,080
Speaker 18: whether or not there were other things that government agencies

684
00:33:36,120 --> 00:33:38,400
Speaker 18: could have done. And it's not just about that, but

685
00:33:38,520 --> 00:33:42,160
Speaker 18: once says children get a bit older, they should know

686
00:33:43,280 --> 00:33:45,719
Speaker 18: for certain exactly what was done to save them from

687
00:33:45,760 --> 00:33:49,600
Speaker 18: the situation. And at the moment, like most of us

688
00:33:49,800 --> 00:33:50,760
Speaker 18: were in the dark on it.

689
00:33:51,720 --> 00:33:53,239
Speaker 3: There seems to be a little bit of upset as

690
00:33:53,280 --> 00:33:55,680
Speaker 3: to why this inquiry is not looking into the courts.

691
00:33:55,880 --> 00:33:56,840
Speaker 3: What's going on there.

692
00:33:58,440 --> 00:33:59,440
Speaker 18: The courts themselves?

693
00:33:59,800 --> 00:34:00,760
Speaker 3: Well, family Court.

694
00:34:01,520 --> 00:34:04,520
Speaker 18: Oh well, because the Family Court we have this concept

695
00:34:04,600 --> 00:34:08,800
Speaker 18: and principle of committee between the court's Parliament and the

696
00:34:08,880 --> 00:34:11,920
Speaker 18: government where we don't go into individual cases, and we

697
00:34:12,040 --> 00:34:15,160
Speaker 18: can't because we don't live in a country where governments

698
00:34:15,239 --> 00:34:18,920
Speaker 18: and politicians get involved in individual cases. But the other

699
00:34:19,040 --> 00:34:21,839
Speaker 18: thing is too is that you know, so if someone

700
00:34:21,880 --> 00:34:24,239
Speaker 18: wanted to, if we want to have an investigation to

701
00:34:24,280 --> 00:34:26,759
Speaker 18: the family courts and how they operate, that would be

702
00:34:27,040 --> 00:34:29,680
Speaker 18: that could take years and it would also not be

703
00:34:30,120 --> 00:34:33,879
Speaker 18: about one particular case. In this situation, what we can

704
00:34:34,000 --> 00:34:37,080
Speaker 18: look into is what government agencies knew, what they did,

705
00:34:38,000 --> 00:34:41,719
Speaker 18: what they didn't do, should they have done more, was

706
00:34:41,800 --> 00:34:44,399
Speaker 18: there anything? It will, in fact course look at their

707
00:34:45,440 --> 00:34:48,240
Speaker 18: what they told or what they gave to the family

708
00:34:48,320 --> 00:34:50,560
Speaker 18: court as well. But what it won't do is we're

709
00:34:50,640 --> 00:34:52,879
Speaker 18: not going on some witch hunt in the family court.

710
00:34:53,680 --> 00:34:56,000
Speaker 3: Now, how are we going to talk about this in

711
00:34:56,040 --> 00:34:58,800
Speaker 3: the outcome of this, especially read the police, when the

712
00:34:58,920 --> 00:35:03,240
Speaker 3: most important information remains suppressed and probably will always be suppressed.

713
00:35:04,560 --> 00:35:08,440
Speaker 18: I think the most important information deals with the children

714
00:35:09,400 --> 00:35:15,000
Speaker 18: and what effects what's happened these last four years have

715
00:35:15,080 --> 00:35:18,160
Speaker 18: had on them, and I think that has to be suppressed.

716
00:35:18,200 --> 00:35:20,160
Speaker 18: And I'm sure that you'll agree with me that they.

717
00:35:20,320 --> 00:35:23,000
Speaker 3: Know I'm not arguing about that. But if we can't

718
00:35:23,080 --> 00:35:26,800
Speaker 3: even like if the public can't even be told that information.

719
00:35:27,320 --> 00:35:30,279
Speaker 3: How can we properly assess whether the police have done

720
00:35:30,280 --> 00:35:31,000
Speaker 3: the right thing here?

721
00:35:32,080 --> 00:35:35,080
Speaker 18: Well, I think leave it to the inquirer. I believe

722
00:35:35,320 --> 00:35:38,640
Speaker 18: that the terms of reference are wide enough for the

723
00:35:38,880 --> 00:35:41,719
Speaker 18: inquiry to look at what the police did, but what

724
00:35:41,920 --> 00:35:44,719
Speaker 18: other agencies did, What did all rung and Tamariki, the

725
00:35:45,040 --> 00:35:49,960
Speaker 18: Ministry for Children, what any other government agencies involved, What

726
00:35:50,120 --> 00:35:52,359
Speaker 18: did they do and what they didn't do? I think

727
00:35:52,400 --> 00:35:55,120
Speaker 18: that is the right thing for this inquiry.

728
00:35:55,480 --> 00:35:56,439
Speaker 3: And I realize it's.

729
00:35:56,400 --> 00:35:58,399
Speaker 18: Really difficult for people because they're used to a lot

730
00:35:58,440 --> 00:36:03,120
Speaker 18: of these sorts of inquiries being public. But there are

731
00:36:03,360 --> 00:36:06,360
Speaker 18: very extensive suppression orders in place in the courts and

732
00:36:06,480 --> 00:36:12,279
Speaker 18: we cannot disregard those, and particularly when they're there in

733
00:36:12,400 --> 00:36:16,040
Speaker 18: the interests of children, we simply cannot do anything about that.

734
00:36:16,239 --> 00:36:19,200
Speaker 18: And the alternative is we wait for years and years

735
00:36:19,200 --> 00:36:21,880
Speaker 18: and years and don't actually know what the answers are

736
00:36:22,440 --> 00:36:23,799
Speaker 18: to what could have been done better?

737
00:36:24,200 --> 00:36:26,080
Speaker 3: Judith, just on another subject, where are we at with

738
00:36:26,160 --> 00:36:27,320
Speaker 3: the sacking of Andrew Costa?

739
00:36:28,920 --> 00:36:30,440
Speaker 19: Well, the issue with.

740
00:36:30,640 --> 00:36:34,400
Speaker 18: Mister Costa is with the Public Service Commissioner. I obviously

741
00:36:34,920 --> 00:36:38,040
Speaker 18: don't get involved in that and can't and it is

742
00:36:38,520 --> 00:36:43,400
Speaker 18: a matter between himself and the Commissioner.

743
00:36:44,000 --> 00:36:46,080
Speaker 3: Judah, thank you very much, appreciate your time. Judith Collins,

744
00:36:46,120 --> 00:36:47,640
Speaker 3: the Attorney General eleven.

745
00:36:47,400 --> 00:36:51,120
Speaker 2: Past Heather Duplicy Ellen Northland's.

746
00:36:50,760 --> 00:36:53,640
Speaker 3: Entirely avoidable multi day power outage is headed to court.

747
00:36:53,800 --> 00:36:56,600
Speaker 3: Two firms, one of them are law firms, one as Australian,

748
00:36:56,600 --> 00:36:59,320
Speaker 3: one as New Zealand, have launched a class action lawsuit

749
00:36:59,360 --> 00:37:02,239
Speaker 3: against Trance and the contractor Omixom, whose staff member pulled

750
00:37:02,280 --> 00:37:04,120
Speaker 3: the nuts out of pylon's legs which caused the thing

751
00:37:04,160 --> 00:37:07,680
Speaker 3: to fall over. This whole thing cost Northland businesses millions.

752
00:37:07,760 --> 00:37:09,799
Speaker 3: Mike Colson Casey is helping with the case.

753
00:37:09,880 --> 00:37:11,960
Speaker 10: Hi Mike, Hi, how are you?

754
00:37:12,120 --> 00:37:13,680
Speaker 3: I'm very well, thank you. What does it makes you

755
00:37:13,760 --> 00:37:14,759
Speaker 3: think you've got a case here?

756
00:37:16,200 --> 00:37:19,080
Speaker 10: I can't get into the precise prospects of the case

757
00:37:19,120 --> 00:37:22,120
Speaker 10: because it's before the courts, but I think the two

758
00:37:22,239 --> 00:37:26,880
Speaker 10: independent reports really speak for themselves. There was one that

759
00:37:27,000 --> 00:37:29,759
Speaker 10: was commissioned by Transpower and there was one that was

760
00:37:29,840 --> 00:37:34,080
Speaker 10: commissioned by the Electricity Authority. There's some fairly strong factual

761
00:37:34,120 --> 00:37:36,640
Speaker 10: statements in those reports and that's really the basis of

762
00:37:36,680 --> 00:37:37,000
Speaker 10: the case.

763
00:37:37,400 --> 00:37:40,799
Speaker 3: Do you have like a handle yourself on how much

764
00:37:40,920 --> 00:37:43,680
Speaker 3: business is up in Northland actually lost during this power outage.

765
00:37:44,880 --> 00:37:47,479
Speaker 10: We don't have that precise a data at the moment.

766
00:37:47,600 --> 00:37:50,279
Speaker 10: There were, as you may recall, reports at the time,

767
00:37:50,360 --> 00:37:53,160
Speaker 10: there were estimates by economists as to what the losses were.

768
00:37:54,040 --> 00:37:56,920
Speaker 10: We have done some sampling amongst the businesses which we

769
00:37:57,000 --> 00:38:01,440
Speaker 10: can extrapolate that we probably don't want or can't get

770
00:38:01,480 --> 00:38:03,680
Speaker 10: into the precise details of losses at this time.

771
00:38:04,320 --> 00:38:06,440
Speaker 3: Now, can I deduce from the fact that Omni Bridgeway

772
00:38:06,520 --> 00:38:08,480
Speaker 3: is funding the case that Omni Bridgeway thinks there's a

773
00:38:08,480 --> 00:38:09,879
Speaker 3: reasonable chance of success here?

774
00:38:10,920 --> 00:38:13,520
Speaker 10: Yes, I think that would be Omni Bridgeways view. There

775
00:38:13,560 --> 00:38:17,759
Speaker 10: obviously a commercial litigation funder the use to making decisions

776
00:38:17,800 --> 00:38:20,680
Speaker 10: on which litigation they want to back, and they're backing

777
00:38:20,719 --> 00:38:22,239
Speaker 10: it with a considerable amount of money.

778
00:38:22,960 --> 00:38:26,480
Speaker 3: When when the payout, if there is a payout, when

779
00:38:26,520 --> 00:38:29,239
Speaker 3: that is finally determined, is it based on is it

780
00:38:29,440 --> 00:38:31,879
Speaker 3: likely to be based on what the actual losses were,

781
00:38:32,400 --> 00:38:34,560
Speaker 3: or is it based on actual losses plus a whole

782
00:38:34,560 --> 00:38:35,320
Speaker 3: bunch of other stuff.

783
00:38:37,120 --> 00:38:39,920
Speaker 10: Ultimately, if we were successful and there's a whole lot

784
00:38:39,920 --> 00:38:43,359
Speaker 10: of hypothetical associated with that, of course, Heather, it would

785
00:38:43,440 --> 00:38:47,080
Speaker 10: be based on the businesses actual losses, So we would

786
00:38:47,080 --> 00:38:50,080
Speaker 10: be asking them to put forward sworn statements and other

787
00:38:50,120 --> 00:38:52,800
Speaker 10: evidence as to the losses they've suffered, and they be

788
00:38:52,880 --> 00:38:57,359
Speaker 10: distributed proportionately according to that. Again, I should say that's

789
00:38:57,360 --> 00:38:59,719
Speaker 10: all of subject to the court's orders and applications of

790
00:38:59,760 --> 00:39:02,160
Speaker 10: them the future. But that's the usual process now.

791
00:39:02,120 --> 00:39:03,719
Speaker 3: Mike, I heard a little bit of commentary this morning

792
00:39:03,719 --> 00:39:05,840
Speaker 3: on Mike Hoskins Show that suggested that this is not

793
00:39:05,920 --> 00:39:07,640
Speaker 3: the key we weigh and we don't want this kind

794
00:39:07,640 --> 00:39:09,879
Speaker 3: of litigation coming into the country. How do you feel

795
00:39:09,920 --> 00:39:10,200
Speaker 3: about it?

796
00:39:11,600 --> 00:39:13,640
Speaker 10: Well, in terms of this pipe of litigation coming into

797
00:39:13,680 --> 00:39:16,160
Speaker 10: the country, it's just rereading a Law Commission report from

798
00:39:16,200 --> 00:39:18,600
Speaker 10: a couple of years ago which indicated there've been forty

799
00:39:18,719 --> 00:39:22,640
Speaker 10: seven class or representative actions approved in New Zealand in

800
00:39:22,680 --> 00:39:25,560
Speaker 10: the last twenty years. It's not something that's particularly new.

801
00:39:26,520 --> 00:39:30,160
Speaker 10: Some people may oppose class actions, and that's understandable if

802
00:39:30,160 --> 00:39:33,560
Speaker 10: they wish to do that. But I suppose what this

803
00:39:33,760 --> 00:39:37,680
Speaker 10: is about really is giving northern businesses an opportunity potentially

804
00:39:37,880 --> 00:39:42,400
Speaker 10: to be compensated, and second, an opportunity potentially to incentivize

805
00:39:42,520 --> 00:39:47,520
Speaker 10: those working on critical infrastructure to take reasonable care or

806
00:39:47,600 --> 00:39:50,080
Speaker 10: do a good job out of it. Now, as I

807
00:39:50,120 --> 00:39:53,439
Speaker 10: should stress the orders we are seeking what are called

808
00:39:53,520 --> 00:39:57,320
Speaker 10: opt out orders. That means that a Northland businesses or

809
00:39:57,360 --> 00:39:59,880
Speaker 10: a particular Northland business doesn't want to be part of

810
00:40:00,000 --> 00:40:03,120
Speaker 10: the litigation, they can opt out and they will no

811
00:40:03,200 --> 00:40:05,520
Speaker 10: longer be part of it. Otherwise they're deemed to be

812
00:40:05,600 --> 00:40:07,800
Speaker 10: in that it's entirely their decision as to whether or

813
00:40:07,840 --> 00:40:08,840
Speaker 10: not they want to remain in.

814
00:40:09,000 --> 00:40:11,160
Speaker 3: Yeah, Mike, listen, thanks for talking us. I appreciated Mike

815
00:40:11,200 --> 00:40:15,520
Speaker 3: Colson kc here that everyone knows the suppressed information. Brendan

816
00:40:15,640 --> 00:40:18,400
Speaker 3: maybe so I suspect not everyone, but I suspect enough

817
00:40:18,440 --> 00:40:21,279
Speaker 3: people to make this kind of slightly ridicill us. I've

818
00:40:21,320 --> 00:40:22,799
Speaker 3: got some really good economic news for you, so I'm

819
00:40:22,800 --> 00:40:24,200
Speaker 3: gonna have to share that with you shortly. But next

820
00:40:24,280 --> 00:40:26,239
Speaker 3: let's talk to the Reserve Bank about running out of cash.

821
00:40:26,320 --> 00:40:30,720
Speaker 3: Fourteen past five. All right, listen up, because the latest

822
00:40:30,760 --> 00:40:32,880
Speaker 3: independent key we Save A results might just be the

823
00:40:32,960 --> 00:40:34,840
Speaker 3: nudge that you need to take a fresh look and

824
00:40:34,920 --> 00:40:36,719
Speaker 3: make sure that your money is actually really working for

825
00:40:36,800 --> 00:40:39,120
Speaker 3: you now. According to the latest Morning Star Key we

826
00:40:39,200 --> 00:40:42,360
Speaker 3: Save a report, to the end of September, Generates Moderate

827
00:40:42,480 --> 00:40:46,719
Speaker 3: Fund ranked first, their Focus Growth Fund ranked second, and

828
00:40:46,880 --> 00:40:49,480
Speaker 3: their Growth Fund ranked third in the respective categories for

829
00:40:49,560 --> 00:40:52,000
Speaker 3: ten year returns. Now, that is podium finishes all round,

830
00:40:52,120 --> 00:40:54,239
Speaker 3: and it is not the first time for these Generate funds.

831
00:40:54,520 --> 00:40:56,239
Speaker 3: These three funds have been in the top three of

832
00:40:56,280 --> 00:40:59,560
Speaker 3: their categories for ten year returns every quarter for the

833
00:40:59,640 --> 00:41:02,520
Speaker 3: past two years. And performance, as you know, performance like

834
00:41:02,600 --> 00:41:05,360
Speaker 3: that can really add up. Generates Focus Growth Fund delivered

835
00:41:05,400 --> 00:41:07,719
Speaker 3: an annualized return of ten point two percent over ten

836
00:41:07,800 --> 00:41:10,960
Speaker 3: years compared to the category average of nine point seven percent,

837
00:41:11,000 --> 00:41:13,600
Speaker 3: and that difference, if you compound it over time, can

838
00:41:13,680 --> 00:41:16,560
Speaker 3: make a lot of a difference at retirement. Over one

839
00:41:16,640 --> 00:41:19,040
Speaker 3: hundred and eighty thousand Key, we already trust Generate to

840
00:41:19,080 --> 00:41:20,800
Speaker 3: grow their savings. It just takes a few minutes for

841
00:41:20,840 --> 00:41:22,880
Speaker 3: you to switch over. So just head on over to

842
00:41:23,040 --> 00:41:25,760
Speaker 3: Generate key wesave a dot co dot in stead forward

843
00:41:25,800 --> 00:41:28,800
Speaker 3: slash start and for full details and returns disclosures and

844
00:41:28,880 --> 00:41:31,480
Speaker 3: the pds visit Generate key wesave a dot co dot

845
00:41:31,520 --> 00:41:34,840
Speaker 3: in z slash disclosures. Now the issuer is Generate Investment

846
00:41:34,920 --> 00:41:38,440
Speaker 3: Management Limited. And remember past performance does not guarantee future

847
00:41:38,520 --> 00:41:42,600
Speaker 3: returns together do for Clan eighteen past five. Now the

848
00:41:42,680 --> 00:41:44,600
Speaker 3: Reserve Bank is a little bit worried that we might

849
00:41:44,680 --> 00:41:47,000
Speaker 3: start finding it a little hard to find cash, you know,

850
00:41:47,120 --> 00:41:50,359
Speaker 3: with the old ATMs disappearing in the banks pulling out

851
00:41:50,400 --> 00:41:52,399
Speaker 3: of rural areas. So it's got a plan. It's opened

852
00:41:52,400 --> 00:41:55,480
Speaker 3: a cash depot for people in why Pokao just to

853
00:41:55,520 --> 00:41:57,719
Speaker 3: see how it goes. It's part of a twelve month trial.

854
00:41:57,960 --> 00:41:59,759
Speaker 3: Up to now, these people had to drive fifty k's

855
00:41:59,840 --> 00:42:03,000
Speaker 3: just withdraw cash. Ian Wolford is the Reserve Bank's Director

856
00:42:03,000 --> 00:42:04,759
Speaker 3: of Money and Cash and with us now hi Ian

857
00:42:05,840 --> 00:42:08,359
Speaker 3: hi okay. So this cash depot, how does it work?

858
00:42:08,440 --> 00:42:11,000
Speaker 3: Is it basically you guys running your own minibank.

859
00:42:12,640 --> 00:42:15,520
Speaker 13: Sort of, although it's really just about the cash. We're

860
00:42:15,560 --> 00:42:17,480
Speaker 13: not giving out loans or anything like that. But what

861
00:42:17,640 --> 00:42:22,000
Speaker 13: it does is it lets retailers come in and they'll

862
00:42:22,040 --> 00:42:26,279
Speaker 13: be able to deposit money they can make change. This

863
00:42:26,600 --> 00:42:29,200
Speaker 13: is one of the issues that retailers have rights banks

864
00:42:29,360 --> 00:42:33,600
Speaker 13: withdraw from rural areas, actually having the float, being able

865
00:42:33,640 --> 00:42:35,840
Speaker 13: to deposit the money, all those sorts of things. So

866
00:42:35,840 --> 00:42:38,080
Speaker 13: we're trying to find solutions for that to make it

867
00:42:38,160 --> 00:42:39,680
Speaker 13: easier for retailers.

868
00:42:39,440 --> 00:42:42,160
Speaker 3: Right, but what about the average punter? Because this is

869
00:42:42,200 --> 00:42:45,040
Speaker 3: only for businesses and boards of trustees at schools and

870
00:42:45,080 --> 00:42:46,680
Speaker 3: so on and so forth. What about if you just

871
00:42:46,719 --> 00:42:48,560
Speaker 3: have a punter who wants to withdraw I don't know,

872
00:42:48,600 --> 00:42:49,360
Speaker 3: three hundred dollars.

873
00:42:50,880 --> 00:42:52,960
Speaker 13: Yeah, So at the moment, we focus on retailers, and

874
00:42:53,000 --> 00:42:56,239
Speaker 13: I'll tell you why. It's because it's quite surprising about

875
00:42:56,239 --> 00:42:58,200
Speaker 13: a third where people get their money from is actually

876
00:42:58,239 --> 00:43:02,640
Speaker 13: from a retailer and cash out. But what's happening people

877
00:43:02,719 --> 00:43:06,160
Speaker 13: might be noticing retailers are increasingly saying, well, we don't

878
00:43:06,160 --> 00:43:08,239
Speaker 13: really want it set cash because it's getting too expensive

879
00:43:08,760 --> 00:43:11,799
Speaker 13: for us to handle, and it's just a bit too

880
00:43:11,880 --> 00:43:15,279
Speaker 13: difficult because the ATMs and the branches are disappearing. So

881
00:43:15,600 --> 00:43:18,279
Speaker 13: what we're trialing is if we make it easier for

882
00:43:18,360 --> 00:43:20,840
Speaker 13: retailers to get changed so they can deposit, they can

883
00:43:20,880 --> 00:43:24,920
Speaker 13: get the float, et cetera. And this isn't quite live yet,

884
00:43:24,960 --> 00:43:27,720
Speaker 13: but it's about to go live. It's part of the trial,

885
00:43:28,600 --> 00:43:31,520
Speaker 13: and we actually reimburse the retailer for giving some cash.

886
00:43:31,680 --> 00:43:35,920
Speaker 13: Art does that actually change people's behaviors? So that helps

887
00:43:36,080 --> 00:43:39,239
Speaker 13: ungum the system. You know, you can you've still got

888
00:43:39,280 --> 00:43:42,960
Speaker 13: the choice of using cash when you want to. So

889
00:43:43,200 --> 00:43:46,920
Speaker 13: at the moment it's just the retailer cash depot. But

890
00:43:47,080 --> 00:43:49,760
Speaker 13: in the future, you know, we're exploring all options.

891
00:43:50,320 --> 00:43:52,279
Speaker 3: Interesting and thanks very much for talking us through at

892
00:43:52,280 --> 00:43:55,919
Speaker 3: an Wilford Reserve Bank Director of Money in Cash, it's

893
00:43:55,920 --> 00:43:57,879
Speaker 3: got to be one of the coolest job titles out.

894
00:43:58,320 --> 00:43:59,960
Speaker 3: This is the good news I have for you, goodie

895
00:44:00,000 --> 00:44:03,359
Speaker 3: pomic news. Business confidence is up now at a level

896
00:44:03,400 --> 00:44:07,440
Speaker 3: that we haven't seen since twenty fourteen. It is just

897
00:44:07,520 --> 00:44:10,080
Speaker 3: at the highest eleven level in eleven years. This is

898
00:44:10,120 --> 00:44:12,680
Speaker 3: according to A and Z. It says confidence has jumped

899
00:44:12,680 --> 00:44:16,120
Speaker 3: another nine points. Was fifty eight it's now sixty seven.

900
00:44:16,640 --> 00:44:19,359
Speaker 3: Expected own activity has lifted eight points to fifty three,

901
00:44:19,560 --> 00:44:22,120
Speaker 3: also the highest in a decade. And what's even better

902
00:44:22,160 --> 00:44:24,120
Speaker 3: about this is this is not eerie fairy hopes and

903
00:44:24,200 --> 00:44:27,600
Speaker 3: dreams stuff. Only A in Z says. The optimism seems

904
00:44:27,719 --> 00:44:31,160
Speaker 3: rooted in recent experience. Past own activity has leapt from

905
00:44:31,160 --> 00:44:32,920
Speaker 3: plus five to plus twenty one, which is the highest

906
00:44:32,960 --> 00:44:35,840
Speaker 3: read since August twenty twenty one. So, guys, it's on

907
00:44:36,400 --> 00:44:37,120
Speaker 3: five twenty one.

908
00:44:37,719 --> 00:44:40,719
Speaker 1: The name you trusted to get the answers you need,

909
00:44:41,080 --> 00:44:43,040
Speaker 1: It's Heather duplicl.

910
00:44:42,440 --> 00:44:45,920
Speaker 2: And drive with one New Zealand coverage like no one

911
00:44:46,040 --> 00:44:47,160
Speaker 2: else us talk.

912
00:44:47,280 --> 00:44:50,360
Speaker 3: They'd be here the transpower. We'll have some public liability

913
00:44:50,440 --> 00:44:52,719
Speaker 3: insurance good so that insurance money can be paid to

914
00:44:52,719 --> 00:44:55,839
Speaker 3: the people in Northland who suffered five to twenty four. Listen,

915
00:44:55,920 --> 00:44:58,000
Speaker 3: Can I give you a positive spin on the recession

916
00:44:58,000 --> 00:45:01,120
Speaker 3: that we're just coming out of. Maybe it's not so

917
00:45:01,239 --> 00:45:03,320
Speaker 3: much a positive spind but maybe it's an explanation for

918
00:45:03,400 --> 00:45:05,640
Speaker 3: why this recession was harder than it needed to be,

919
00:45:05,719 --> 00:45:07,520
Speaker 3: but why it actually did need to be this hard.

920
00:45:07,960 --> 00:45:10,360
Speaker 3: If you've been following the commentary around the Reserve Bank's

921
00:45:10,400 --> 00:45:12,600
Speaker 3: last two OCR decisions, you'll know there's been a fair

922
00:45:12,680 --> 00:45:14,440
Speaker 3: bit of chat about the wealth effect and how that

923
00:45:14,560 --> 00:45:15,839
Speaker 3: has made the recession worse.

924
00:45:16,080 --> 00:45:16,200
Speaker 9: Now.

925
00:45:16,280 --> 00:45:18,080
Speaker 3: The wealth effect is the thing that happens when your

926
00:45:18,080 --> 00:45:20,399
Speaker 3: house goes up in value, you feel rich. You're not rich.

927
00:45:20,800 --> 00:45:23,120
Speaker 3: You feel rich, so you go out and spend more money,

928
00:45:23,360 --> 00:45:24,800
Speaker 3: and then, of course when it does the opposite and

929
00:45:24,880 --> 00:45:27,040
Speaker 3: goes down in value, you feel poor. You're not poor,

930
00:45:27,320 --> 00:45:29,400
Speaker 3: you just feel it so you shut your wallet. And

931
00:45:29,560 --> 00:45:31,320
Speaker 3: that is part of the recession, the reason why this

932
00:45:31,440 --> 00:45:34,360
Speaker 3: recession has dragged because our house prices are not going up,

933
00:45:34,440 --> 00:45:37,439
Speaker 3: they have gone backwards, and so we're not spending, which

934
00:45:37,520 --> 00:45:40,480
Speaker 3: means that we're not spending our way out of the recession. Now,

935
00:45:40,640 --> 00:45:42,920
Speaker 3: the thing about this is that the Reserve Bank has

936
00:45:43,040 --> 00:45:46,839
Speaker 3: actually done things to deliberately keep our house press price

937
00:45:46,920 --> 00:45:50,000
Speaker 3: is suppressed, right, things like debt to income ratios. Some

938
00:45:50,160 --> 00:45:51,879
Speaker 3: of the stuff is not their fault, like people leaving

939
00:45:51,920 --> 00:45:53,640
Speaker 3: the country and therefore not wanting to buy a house,

940
00:45:53,640 --> 00:45:55,800
Speaker 3: supply demand blah blah blah, but some of it is

941
00:45:55,920 --> 00:45:57,960
Speaker 3: the fault of the Reserve Bank. Have done this deliberately.

942
00:45:58,200 --> 00:46:01,120
Speaker 3: And I warned you about this on the show before

943
00:46:01,200 --> 00:46:02,640
Speaker 3: I said this to you in August, I said I

944
00:46:02,800 --> 00:46:05,160
Speaker 3: was worried that the Reserve Bank was keeping house prices

945
00:46:05,200 --> 00:46:08,120
Speaker 3: depressed and that it would drag out this recession longer,

946
00:46:08,239 --> 00:46:10,839
Speaker 3: which it has. And I've been talking privately to Brad

947
00:46:10,880 --> 00:46:12,799
Speaker 3: Olson about it as well, who's been keeping an eye

948
00:46:12,840 --> 00:46:14,759
Speaker 3: on it two and we've been debating the merits of it.

949
00:46:15,080 --> 00:46:18,080
Speaker 3: But here's the silver lining. We actually needed to let

950
00:46:18,160 --> 00:46:20,760
Speaker 3: go of this property recession. It's been hard, a property obsession,

951
00:46:21,000 --> 00:46:23,120
Speaker 3: it's been hard, but we needed to do it because

952
00:46:23,160 --> 00:46:25,320
Speaker 3: we have got to stop putting our money into property,

953
00:46:25,320 --> 00:46:27,280
Speaker 3: and we've got to start putting our money into businesses

954
00:46:27,320 --> 00:46:29,800
Speaker 3: and other productive assets. And this is the breakup that

955
00:46:29,880 --> 00:46:32,440
Speaker 3: we needed to have. No breakup is nice and this

956
00:46:32,560 --> 00:46:35,000
Speaker 3: one isn't either. So we do our text Brad Olson

957
00:46:35,160 --> 00:46:37,080
Speaker 3: this morning, yet again he goes, oh, here we go

958
00:46:37,239 --> 00:46:39,120
Speaker 3: use a text from Heather. I said, Brad, are you

959
00:46:39,280 --> 00:46:42,719
Speaker 3: still sure that it was worth it was worth it

960
00:46:43,080 --> 00:46:45,520
Speaker 3: to break up with our property obsession, given how hard

961
00:46:45,680 --> 00:46:48,560
Speaker 3: it has made this recession? And he just replied with yes,

962
00:46:48,680 --> 00:46:51,719
Speaker 3: I do. So what I would say is, if you're

963
00:46:51,760 --> 00:46:53,960
Speaker 3: doing the glass half full, at least we will come

964
00:46:54,040 --> 00:46:56,520
Speaker 3: out of this recession less in love with houses and

965
00:46:56,640 --> 00:46:58,759
Speaker 3: more likely to put our dollars into stuff that will

966
00:46:58,800 --> 00:47:01,040
Speaker 3: actually make New Zealand richert And that's got to be.

967
00:47:01,040 --> 00:47:03,759
Speaker 2: A good thing. Ever day, I've done it.

968
00:47:04,920 --> 00:47:07,040
Speaker 3: I've booked on the Orange Bird. I said to you

969
00:47:07,280 --> 00:47:09,839
Speaker 3: that come this time next year, I'd be flying jet Star.

970
00:47:10,160 --> 00:47:12,759
Speaker 3: I'm telling you now, come this time next week, I'm

971
00:47:12,760 --> 00:47:16,359
Speaker 3: going to be flying jet Star. So what the event

972
00:47:16,520 --> 00:47:16,640
Speaker 3: is on?

973
00:47:16,880 --> 00:47:16,920
Speaker 9: You?

974
00:47:16,920 --> 00:47:18,440
Speaker 3: Remember I was telling you that the event was off

975
00:47:18,440 --> 00:47:20,480
Speaker 3: because I couldn't justify flying with the New Zealand it

976
00:47:20,520 --> 00:47:22,520
Speaker 3: was too expensive. I spoke to the boss and he

977
00:47:22,680 --> 00:47:24,279
Speaker 3: was like, you've got to go to this event. So

978
00:47:24,320 --> 00:47:26,920
Speaker 3: I was like, well, you know, like I'll pay for

979
00:47:26,960 --> 00:47:28,640
Speaker 3: the flights, and so he paid for that and then

980
00:47:28,680 --> 00:47:30,040
Speaker 3: I had to beg him. I was like, can you

981
00:47:30,080 --> 00:47:31,840
Speaker 3: please put me on the jet Staff flight back? And

982
00:47:31,920 --> 00:47:33,480
Speaker 3: he was like, no, I don't want to know you've

983
00:47:33,480 --> 00:47:35,040
Speaker 3: got we want to make sure that you get there.

984
00:47:35,080 --> 00:47:36,759
Speaker 3: You can't fly Jetstar and I was like, I'm more

985
00:47:36,880 --> 00:47:38,359
Speaker 3: likely to get there with Jetstar mate.

986
00:47:38,640 --> 00:47:39,360
Speaker 9: So he like.

987
00:47:39,560 --> 00:47:41,759
Speaker 3: We had a debate because he's still a snob, still

988
00:47:41,760 --> 00:47:44,080
Speaker 3: a snob about in New Zealand. Anyway, eventually he put

989
00:47:44,120 --> 00:47:46,080
Speaker 3: me on the jet Staff like the jet stafflight actually

990
00:47:46,120 --> 00:47:47,960
Speaker 3: works out better. But then I had to ask for

991
00:47:48,040 --> 00:47:49,640
Speaker 3: kids in the newsroom. I was like, does jet Start

992
00:47:49,680 --> 00:47:55,040
Speaker 3: have an app? M? Yes, JIT downloaded the app and

993
00:47:55,120 --> 00:47:57,319
Speaker 3: I put I put the I put the flight. I've

994
00:47:57,320 --> 00:47:59,160
Speaker 3: got it all, I've got I know everything, I'm doing it.

995
00:47:59,239 --> 00:48:02,120
Speaker 3: I'm doing the Orange. And then on Thursday and then

996
00:48:02,160 --> 00:48:03,840
Speaker 3: Bean who sits behind me, said to me, you know

997
00:48:04,000 --> 00:48:05,960
Speaker 3: that there's a full bar on the jet Staff flights

998
00:48:06,000 --> 00:48:07,799
Speaker 3: and you can order a Gin and tonic. You don't

999
00:48:07,800 --> 00:48:09,880
Speaker 3: even have to wait for Koru hour. How good is

1000
00:48:09,960 --> 00:48:12,280
Speaker 3: this boss of jet stars with us next.

1001
00:48:18,719 --> 00:48:21,160
Speaker 1: On your smart speaker, on the iHeart app and in

1002
00:48:21,239 --> 00:48:24,240
Speaker 1: your car on your drive home, it's Heather Duplicy Ellen

1003
00:48:24,360 --> 00:48:27,759
Speaker 1: Drive with one New Zealand had the power of satellite

1004
00:48:27,800 --> 00:48:29,400
Speaker 1: mobile news talks endb.

1005
00:48:33,080 --> 00:48:35,320
Speaker 3: Hey, Actually brad Olsen is going to be on the

1006
00:48:35,360 --> 00:48:38,080
Speaker 3: show with us later on and he's just pointed me

1007
00:48:38,239 --> 00:48:40,960
Speaker 3: to an article from Reuter's actually having a look at

1008
00:48:40,960 --> 00:48:42,560
Speaker 3: what's going on in this country and the wealth effect,

1009
00:48:42,600 --> 00:48:44,760
Speaker 3: which I might read a little bit to you before

1010
00:48:44,760 --> 00:48:48,200
Speaker 3: we get to him. Interesting for the first time, if

1011
00:48:48,239 --> 00:48:50,080
Speaker 3: you don't pay your taxes to ID, they're going to

1012
00:48:50,120 --> 00:48:52,239
Speaker 3: send you to Centrics, so everybody's going to be able

1013
00:48:52,239 --> 00:48:53,800
Speaker 3: to see it. You're not paying your taxes to IID

1014
00:48:53,880 --> 00:48:55,800
Speaker 3: and it's going to affect your credit rating, which apparently

1015
00:48:55,840 --> 00:48:58,480
Speaker 3: the Australians do. But we've never done it before. So

1016
00:48:58,520 --> 00:49:00,120
Speaker 3: we're going to talk to Centrics about it and give

1017
00:49:00,120 --> 00:49:03,279
Speaker 3: you some details about that shortly right now, As I say,

1018
00:49:03,360 --> 00:49:04,960
Speaker 3: I should actually tell you this though with us after

1019
00:49:05,000 --> 00:49:07,640
Speaker 3: six o'clock right now it is twenty four away from

1020
00:49:07,760 --> 00:49:09,880
Speaker 3: six now. As I told you earlier, the air New

1021
00:49:09,960 --> 00:49:13,720
Speaker 3: Zealand CEO has taken a crack at Jetstar. He's complained

1022
00:49:13,760 --> 00:49:17,320
Speaker 3: that the country's airports are giving Jetstar discounted landing fees,

1023
00:49:17,520 --> 00:49:20,319
Speaker 3: which then undercuts in New Zealand on the most profitable routes.

1024
00:49:20,680 --> 00:49:24,399
Speaker 3: Steph Tully is the CEO of jet Star. Hi Steph, Hi, Heather,

1025
00:49:24,520 --> 00:49:26,080
Speaker 3: how are you? I'm well? Thank you? Has the air

1026
00:49:26,120 --> 00:49:27,600
Speaker 3: New Zealand CEO got a point?

1027
00:49:30,760 --> 00:49:33,360
Speaker 20: I think you know, we at Jetstar are very focused

1028
00:49:33,400 --> 00:49:36,520
Speaker 20: on running our own race and the reality is we've

1029
00:49:36,640 --> 00:49:39,560
Speaker 20: been trying really hard to make sure that we've got

1030
00:49:39,560 --> 00:49:42,160
Speaker 20: a great value proposition in the New Zella market and

1031
00:49:42,840 --> 00:49:44,600
Speaker 20: it's great that more kewees are giving us a go.

1032
00:49:44,760 --> 00:49:48,439
Speaker 20: And I think the reality is airports will always look

1033
00:49:48,560 --> 00:49:52,520
Speaker 20: to have agreements. They're obviously incredibly confidential, and where our

1034
00:49:52,600 --> 00:49:56,080
Speaker 20: lines are growing, they will they will do, you know,

1035
00:49:56,320 --> 00:49:59,000
Speaker 20: agreements to attract growth. And so we've been fighting hard

1036
00:49:59,120 --> 00:50:01,480
Speaker 20: to do that, as we should, because we fight hard

1037
00:50:01,520 --> 00:50:03,520
Speaker 20: on all parts of our business to get it to

1038
00:50:03,560 --> 00:50:06,120
Speaker 20: perform the best it should so that we can keep

1039
00:50:06,239 --> 00:50:07,359
Speaker 20: offering wafares for Kiwi.

1040
00:50:07,520 --> 00:50:11,440
Speaker 3: What are the discounts worth? I can't even.

1041
00:50:11,239 --> 00:50:14,439
Speaker 20: Share, Heather, because it's very commercially well, okay, Billy Moore.

1042
00:50:14,640 --> 00:50:16,960
Speaker 3: Billy Moore from the airports reckons it's about ten to

1043
00:50:17,040 --> 00:50:18,239
Speaker 3: twenty dollars domestically.

1044
00:50:19,760 --> 00:50:22,280
Speaker 20: It totally depends on the agreement, the amount of growth,

1045
00:50:22,440 --> 00:50:24,320
Speaker 20: how much you know flying you've got there, but that

1046
00:50:24,760 --> 00:50:27,279
Speaker 20: they are things that have been a long held part

1047
00:50:27,320 --> 00:50:31,759
Speaker 20: of our industry. So all airlines can have those discussions

1048
00:50:31,800 --> 00:50:35,280
Speaker 20: and get those things. So I would recommend all airlines

1049
00:50:35,360 --> 00:50:35,560
Speaker 20: do that.

1050
00:50:35,800 --> 00:50:38,759
Speaker 3: And so is your advice in New Zealand. Go and

1051
00:50:38,840 --> 00:50:40,680
Speaker 3: ask for a discount yourself if you want one.

1052
00:50:40,880 --> 00:50:44,239
Speaker 20: Well, but more just run your business. My view is

1053
00:50:44,440 --> 00:50:47,759
Speaker 20: Jet Stars worked really hard in New Zealand to make

1054
00:50:47,800 --> 00:50:50,640
Speaker 20: sure we're a better proposition than perhaps Kiwis have always

1055
00:50:50,680 --> 00:50:52,920
Speaker 20: given us credit for. And I look at our business

1056
00:50:53,000 --> 00:50:56,640
Speaker 20: and this year, over the last twelve months, we've beaten

1057
00:50:56,680 --> 00:51:00,640
Speaker 20: in New Zealand on time performance, We've beaten them on cancelations.

1058
00:51:00,640 --> 00:51:02,920
Speaker 20: We've canceled less and if you look at the Tasman

1059
00:51:03,000 --> 00:51:06,919
Speaker 20: it's significant gap. So we're forty percent less expensive at least.

1060
00:51:07,040 --> 00:51:09,839
Speaker 20: But our proposition is good. So I know it takes

1061
00:51:09,880 --> 00:51:13,160
Speaker 20: a long time to perhaps you know, move from experiences

1062
00:51:13,200 --> 00:51:14,759
Speaker 20: of the past, but I don't know how you look

1063
00:51:14,800 --> 00:51:16,719
Speaker 20: at that and don't give Jetstar a go. We're very

1064
00:51:16,840 --> 00:51:20,080
Speaker 20: passionate about Kiwi's having a second choice.

1065
00:51:20,160 --> 00:51:20,319
Speaker 4: Yeah.

1066
00:51:20,360 --> 00:51:23,240
Speaker 3: Now, can you track or do you track the number

1067
00:51:23,280 --> 00:51:25,040
Speaker 3: of new customers coming to you guys?

1068
00:51:26,600 --> 00:51:28,920
Speaker 20: Oh, we have ways we can sort of triangulate it

1069
00:51:28,960 --> 00:51:31,240
Speaker 20: and have a look, and we definitely feel like Kiwis

1070
00:51:31,280 --> 00:51:32,520
Speaker 20: are giving us more of a guy.

1071
00:51:32,880 --> 00:51:34,840
Speaker 3: Is that what's happening, because this is what I'm hearing

1072
00:51:35,080 --> 00:51:36,840
Speaker 3: is a lot more people are starting to give you

1073
00:51:36,920 --> 00:51:38,719
Speaker 3: a go because of the New Zealand's prices. Is that

1074
00:51:38,800 --> 00:51:39,319
Speaker 3: what you're seeing?

1075
00:51:40,040 --> 00:51:42,520
Speaker 20: Yeah, I think we do say it. Obviously we're the

1076
00:51:42,600 --> 00:51:45,239
Speaker 20: smaller player, so we just you know, fighting hard to

1077
00:51:45,400 --> 00:51:48,120
Speaker 20: be valuable and we've had some growth there. We've got

1078
00:51:48,120 --> 00:51:50,680
Speaker 20: another plane over there, We've got you know, almost five

1079
00:51:50,760 --> 00:51:54,160
Speaker 20: hundred passionate stuff over there, working really hard to be

1080
00:51:54,239 --> 00:51:58,080
Speaker 20: a great airline. So I think we're seeing some people

1081
00:51:58,160 --> 00:51:59,800
Speaker 20: giving us a go, and we want that. You know,

1082
00:52:00,000 --> 00:52:03,080
Speaker 20: you'll keep fighting hard to keep our costs low to

1083
00:52:03,480 --> 00:52:05,759
Speaker 20: be innovative so that we can keep offering low fares,

1084
00:52:05,800 --> 00:52:08,560
Speaker 20: and our fares are significantly lower. So I think Keewis

1085
00:52:08,600 --> 00:52:11,960
Speaker 20: are fighting it harder to justify not giving.

1086
00:52:11,760 --> 00:52:12,000
Speaker 1: It a go.

1087
00:52:12,520 --> 00:52:15,160
Speaker 3: So I have boxed my first jet staff light in

1088
00:52:15,280 --> 00:52:20,959
Speaker 3: about welcome when we're twenty years I'm flying next third.

1089
00:52:21,400 --> 00:52:23,040
Speaker 3: My boss said, I'm not allowed to tell you because

1090
00:52:23,080 --> 00:52:24,480
Speaker 3: then you're going to give me special treatment and you

1091
00:52:24,520 --> 00:52:26,000
Speaker 3: can make sure the plane goes on time. Blah blah

1092
00:52:26,000 --> 00:52:29,320
Speaker 3: blah blah whatever. I don't care on time. That's what

1093
00:52:29,440 --> 00:52:32,279
Speaker 3: I said to him. I was like, you will, you

1094
00:52:32,320 --> 00:52:35,000
Speaker 3: will get our normal jet style service. But what I

1095
00:52:35,160 --> 00:52:37,399
Speaker 3: was then told because then I got very excited Steph

1096
00:52:37,480 --> 00:52:38,960
Speaker 3: and that I downloaded the app. I didn't even know

1097
00:52:39,000 --> 00:52:41,439
Speaker 3: you had an app. Downloaded the apput my flight into

1098
00:52:41,480 --> 00:52:43,800
Speaker 3: the whole thing, right, he goes a proper first world airline,

1099
00:52:43,800 --> 00:52:46,600
Speaker 3: it would appear. And then Ben, who sits behind me,

1100
00:52:46,840 --> 00:52:48,640
Speaker 3: said to me, you know that you can order a

1101
00:52:48,719 --> 00:52:50,360
Speaker 3: Gin and Tonic when you're on their plane.

1102
00:52:50,840 --> 00:52:51,359
Speaker 2: Is this true?

1103
00:52:51,480 --> 00:52:51,879
Speaker 9: Of course?

1104
00:52:52,239 --> 00:52:52,680
Speaker 3: Yeah, yeah.

1105
00:52:52,719 --> 00:52:55,400
Speaker 20: So the whole, the whole low fares model is that

1106
00:52:55,560 --> 00:52:57,839
Speaker 20: we unbundle so we can give you the lowest fair

1107
00:52:57,920 --> 00:53:00,759
Speaker 20: but then you've got the ability to make choices about

1108
00:53:00,800 --> 00:53:03,880
Speaker 20: how you fly. So you're your Gin and tonic, you

1109
00:53:03,920 --> 00:53:05,640
Speaker 20: can order it. You can you know, you can order

1110
00:53:05,680 --> 00:53:08,239
Speaker 20: food if you're hungry. You can order extra baggage behind.

1111
00:53:08,000 --> 00:53:10,719
Speaker 3: It anytime, Like I don't have to wait for Do

1112
00:53:10,840 --> 00:53:12,759
Speaker 3: I not have to wait for korey hour for them

1113
00:53:12,800 --> 00:53:13,680
Speaker 3: to give me something nice?

1114
00:53:13,719 --> 00:53:15,400
Speaker 20: I can any flight, I mean you have you have

1115
00:53:15,520 --> 00:53:19,440
Speaker 20: to obviously give pay a fee for the for the drink,

1116
00:53:20,000 --> 00:53:21,640
Speaker 20: Well that's fine, but I can have it.

1117
00:53:21,920 --> 00:53:22,680
Speaker 3: This is wonderful.

1118
00:53:22,800 --> 00:53:25,120
Speaker 20: Yeah, absolutely, And there's some things that are really unique

1119
00:53:25,120 --> 00:53:27,480
Speaker 20: about the Jets do New Zealand proposition. We've even got

1120
00:53:27,560 --> 00:53:30,640
Speaker 20: points and status on affares over their Quanus freaking flypoints,

1121
00:53:30,680 --> 00:53:33,360
Speaker 20: So you know that we realize we have to, you know,

1122
00:53:33,560 --> 00:53:35,520
Speaker 20: do some things a bit differently in that market to

1123
00:53:35,600 --> 00:53:38,640
Speaker 20: try and be a legitimate competitor given the given the

1124
00:53:38,680 --> 00:53:42,120
Speaker 20: strength of the national carrier. But we're doing all we

1125
00:53:42,239 --> 00:53:44,920
Speaker 20: can to be to be a really legitimate choice. And

1126
00:53:45,040 --> 00:53:46,560
Speaker 20: that's if you're on a ledsure, but also if you're

1127
00:53:46,560 --> 00:53:47,439
Speaker 20: on business as well.

1128
00:53:48,200 --> 00:53:50,600
Speaker 3: Stiff, thank you, I appreciate your time. We'll talk again

1129
00:53:50,640 --> 00:53:53,640
Speaker 3: after my flight on Thursday, Stiff Tally Jetstar CEO. Obviously

1130
00:53:53,640 --> 00:53:55,200
Speaker 3: I'm not going to talk on air like nobody needs

1131
00:53:55,239 --> 00:53:56,759
Speaker 3: that much of a level of an update about a

1132
00:53:56,800 --> 00:53:59,000
Speaker 3: plane right nineteen away from six.

1133
00:54:00,200 --> 00:54:03,200
Speaker 1: With New Zealand, Southby's International Realty, a name you can

1134
00:54:03,239 --> 00:54:05,120
Speaker 1: trust locally and globally.

1135
00:54:05,239 --> 00:54:06,600
Speaker 3: Right on the headdle with me. This evening we have

1136
00:54:06,680 --> 00:54:09,000
Speaker 3: Gareth Hughes, director of the Well Being Economy Alliance out

1137
00:54:09,800 --> 00:54:12,280
Speaker 3: here or a former Green MP, and Nick Leggett Infrastructure

1138
00:54:12,280 --> 00:54:16,200
Speaker 3: New Zealand. Hello you too, Hello Nick? Do you fly

1139
00:54:16,320 --> 00:54:16,879
Speaker 3: the jet Star?

1140
00:54:18,000 --> 00:54:18,480
Speaker 9: I don't.

1141
00:54:18,920 --> 00:54:22,799
Speaker 6: I don't, but I am, you know, like, I think

1142
00:54:22,920 --> 00:54:25,960
Speaker 6: that this is fair, you know, fair enough for regional

1143
00:54:25,960 --> 00:54:30,040
Speaker 6: efforts to be doing this. This is about competition and

1144
00:54:30,800 --> 00:54:34,600
Speaker 6: ultimately the people that went out of Colt competition are

1145
00:54:34,680 --> 00:54:37,799
Speaker 6: the kiwis that are flying around the place you need

1146
00:54:37,880 --> 00:54:40,879
Speaker 6: to get from one destination to another. So I think

1147
00:54:40,960 --> 00:54:44,399
Speaker 6: that this is fair enough. And it's not as though

1148
00:54:44,440 --> 00:54:47,640
Speaker 6: here in New Zealand don't use their mite and aggression

1149
00:54:48,120 --> 00:54:52,279
Speaker 6: to drive their bugs and this is just a bit

1150
00:54:52,320 --> 00:54:52,760
Speaker 6: of balance.

1151
00:54:53,360 --> 00:54:54,759
Speaker 3: Gareth, do you fly the jet Star?

1152
00:54:55,760 --> 00:54:55,880
Speaker 9: Oh?

1153
00:54:55,960 --> 00:54:58,439
Speaker 12: Occasionally. I've been pretty loyal to Air New Zealand over

1154
00:54:58,480 --> 00:55:00,600
Speaker 12: the years. But they had like five hundred dollar flights

1155
00:55:00,600 --> 00:55:03,239
Speaker 12: from Auckland to Wellington last week, so I was looking

1156
00:55:03,320 --> 00:55:05,840
Speaker 12: at Jetstar, have been booking some flights and.

1157
00:55:06,200 --> 00:55:08,319
Speaker 3: Then what happened? So you looked at Jetstar and then

1158
00:55:08,360 --> 00:55:09,200
Speaker 3: what happened? Gareth?

1159
00:55:09,719 --> 00:55:11,719
Speaker 12: Oh, No, I have been booking some Jetstar flights. I

1160
00:55:11,800 --> 00:55:13,920
Speaker 12: mean that it is cheaper. And this is the irony

1161
00:55:14,000 --> 00:55:16,360
Speaker 12: for in New Zealand right, it's the Barbara strays and effect.

1162
00:55:16,719 --> 00:55:19,520
Speaker 12: They've now just given a massive marketing opportunities to get

1163
00:55:20,080 --> 00:55:21,600
Speaker 12: to talk about how much cheaper they are.

1164
00:55:21,880 --> 00:55:22,800
Speaker 3: Yeah, why don't you know?

1165
00:55:23,480 --> 00:55:25,160
Speaker 12: Yeah, you're a big business.

1166
00:55:25,200 --> 00:55:25,360
Speaker 9: You know.

1167
00:55:25,400 --> 00:55:27,560
Speaker 12: They should be focusing on their business. They've got a

1168
00:55:27,600 --> 00:55:30,200
Speaker 12: lot of issues from grounded planes to a massive strike

1169
00:55:30,640 --> 00:55:33,200
Speaker 12: next month. I mean, I think they should be welcoming competition.

1170
00:55:33,520 --> 00:55:35,759
Speaker 12: I think Keewis would love to see more competition on

1171
00:55:35,840 --> 00:55:38,240
Speaker 12: most of their air routes. They've got eighty six percent

1172
00:55:38,680 --> 00:55:41,279
Speaker 12: of the country's edge effect at the moment, so yeah,

1173
00:55:41,440 --> 00:55:43,120
Speaker 12: I'd like to see them welcome competition.

1174
00:55:43,239 --> 00:55:45,560
Speaker 3: Okay, now, Nick, why don't you fly Jetstars? It because

1175
00:55:45,560 --> 00:55:46,320
Speaker 3: you're a snot.

1176
00:55:47,560 --> 00:55:52,680
Speaker 6: No, No, I'm not like you either. I And look

1177
00:55:54,000 --> 00:55:56,040
Speaker 6: I am an oyal in New Zealand customer and.

1178
00:55:56,080 --> 00:55:59,200
Speaker 3: I think because you've got Boru, that's what it is.

1179
00:55:59,719 --> 00:56:02,359
Speaker 6: Well, that may have something to do with it. There

1180
00:56:02,400 --> 00:56:04,600
Speaker 6: are just there are more options and I think that

1181
00:56:04,920 --> 00:56:06,839
Speaker 6: from memory and this may go back a few years.

1182
00:56:07,200 --> 00:56:10,040
Speaker 6: You have to really get to the airport a lot

1183
00:56:10,120 --> 00:56:12,520
Speaker 6: earlier for a jet Star flight as you're flying Walklorn

1184
00:56:12,560 --> 00:56:14,480
Speaker 6: to Wellington and you know, I.

1185
00:56:17,800 --> 00:56:19,919
Speaker 10: How much ten? Yeah?

1186
00:56:19,920 --> 00:56:22,319
Speaker 6: Okay, well sometimes ten minutes can be the difference between

1187
00:56:22,360 --> 00:56:23,120
Speaker 6: getting the flight and not.

1188
00:56:23,280 --> 00:56:28,480
Speaker 3: You're open, ye, then you'll get over it, because I'm

1189
00:56:28,520 --> 00:56:31,960
Speaker 3: getting over it. I've decided to what I would in

1190
00:56:32,040 --> 00:56:34,640
Speaker 3: the past have said was slummet. But I'm about to

1191
00:56:34,680 --> 00:56:36,360
Speaker 3: discover I'm not going to slum it because I'm going

1192
00:56:36,400 --> 00:56:37,640
Speaker 3: to be having a Gin and Tonic and you're going

1193
00:56:37,680 --> 00:56:40,320
Speaker 3: to be sitting there just eating your casava chips. And

1194
00:56:40,440 --> 00:56:43,080
Speaker 3: that sucks, doesn't it. Gareth? How do you feel about

1195
00:56:43,120 --> 00:56:46,520
Speaker 3: transport pat transpower being sued and the importation of a

1196
00:56:46,560 --> 00:56:47,560
Speaker 3: culture of litigation.

1197
00:56:48,680 --> 00:56:51,840
Speaker 12: Well, we don't really have this history of big class sections.

1198
00:56:51,880 --> 00:56:53,960
Speaker 12: They're pretty rare in New Zealand. And you know, if

1199
00:56:54,000 --> 00:56:56,960
Speaker 12: you look at acc right, I'm pretty I'm really proud

1200
00:56:57,000 --> 00:56:59,120
Speaker 12: of our country and our model that we've avoided that

1201
00:56:59,280 --> 00:57:03,600
Speaker 12: whole America and style constantly suing each other. And I

1202
00:57:03,640 --> 00:57:06,560
Speaker 12: think in this case, you know, the only victim, or

1203
00:57:07,080 --> 00:57:09,960
Speaker 12: half the victim, will be the taxpayer because Transpower, you know,

1204
00:57:10,120 --> 00:57:13,040
Speaker 12: is a state owned enterprise. So it's pretty refreshing actually

1205
00:57:13,120 --> 00:57:15,839
Speaker 12: to see. Then also, and Chamber and Commas chief executives say,

1206
00:57:16,320 --> 00:57:18,440
Speaker 12: you have local businesses are just ready to move on.

1207
00:57:18,720 --> 00:57:21,600
Speaker 3: But but Gareth, they have they'll have an indemnity insurance,

1208
00:57:21,600 --> 00:57:22,400
Speaker 3: they'll have insurance.

1209
00:57:24,360 --> 00:57:26,800
Speaker 12: Yeah, that's possible. And I know they've already donated a

1210
00:57:26,880 --> 00:57:27,520
Speaker 12: million dollars.

1211
00:57:27,800 --> 00:57:32,480
Speaker 3: Donated a million dollars. Gareth, listen to yourself. These these

1212
00:57:32,520 --> 00:57:35,840
Speaker 3: are people who lost sixty to eighty million dollars. It

1213
00:57:36,040 --> 00:57:39,120
Speaker 3: was not a donation. It was like the tiniest bit

1214
00:57:39,160 --> 00:57:40,040
Speaker 3: of combo, wasn't it.

1215
00:57:40,800 --> 00:57:42,880
Speaker 12: Yeah, But that's what's so interesting about it, right, it

1216
00:57:43,000 --> 00:57:46,080
Speaker 12: looks like potentially free money. It's a you know, you

1217
00:57:46,200 --> 00:57:50,200
Speaker 12: only pay if you win. But it looks like local

1218
00:57:50,240 --> 00:57:52,960
Speaker 12: business is the same. There isn't much demand. It's interesting

1219
00:57:53,080 --> 00:57:56,880
Speaker 12: this litigant hasn't an out company. Local companies are part

1220
00:57:56,920 --> 00:57:59,200
Speaker 12: of this class faction. And the fact of the matter is,

1221
00:57:59,200 --> 00:58:00,600
Speaker 12: I think you know, the work are probably going to

1222
00:58:00,640 --> 00:58:02,120
Speaker 12: eat up a healthy chunk of it.

1223
00:58:02,400 --> 00:58:02,600
Speaker 20: Yeah.

1224
00:58:02,640 --> 00:58:04,280
Speaker 3: Probably, As always lit and take a break. I want

1225
00:58:04,320 --> 00:58:05,640
Speaker 3: to hear what you've got to say, Nick will do

1226
00:58:05,640 --> 00:58:08,480
Speaker 3: it next quarter two The Huddle with.

1227
00:58:08,640 --> 00:58:12,760
Speaker 1: New Zealand Southeby's International Realty, the only truly global brand.

1228
00:58:12,840 --> 00:58:14,400
Speaker 3: Right, you're back with the Huddle, Nick Legg at Gareth

1229
00:58:14,480 --> 00:58:16,720
Speaker 3: us Nick, what do you think about the culture of litigation?

1230
00:58:18,200 --> 00:58:21,520
Speaker 6: Yeah, I think that if you're a small or a

1231
00:58:21,600 --> 00:58:26,160
Speaker 6: medium sized business, yeah, it's an opten, not about option.

1232
00:58:26,400 --> 00:58:31,600
Speaker 6: But the truth is this stuff SAPs time and energy

1233
00:58:31,760 --> 00:58:35,920
Speaker 6: and that costs money. And from what I see about Northland,

1234
00:58:36,360 --> 00:58:39,760
Speaker 6: they are very focused on their economic future, so they

1235
00:58:39,920 --> 00:58:44,040
Speaker 6: understand the benefit of actually thinking forward, investing in energy,

1236
00:58:44,120 --> 00:58:48,320
Speaker 6: investing in transport and connections to Northland, not looking backwards.

1237
00:58:48,480 --> 00:58:52,440
Speaker 6: We do have massive energy challenges in this country going

1238
00:58:52,480 --> 00:58:54,880
Speaker 6: to the future, and I think I just think this

1239
00:58:55,040 --> 00:58:59,480
Speaker 6: is a really pragmatic attitude to be hearing and it

1240
00:58:59,600 --> 00:59:02,200
Speaker 6: is line with the Kiwi spirit. Sometimes I think we

1241
00:59:02,480 --> 00:59:05,400
Speaker 6: roll over and sort of take things too much, but

1242
00:59:05,520 --> 00:59:08,439
Speaker 6: actually I think this is I think they've they've they've

1243
00:59:09,040 --> 00:59:11,720
Speaker 6: put the they've done the thinking and they've wighed it up.

1244
00:59:11,680 --> 00:59:14,240
Speaker 3: And this is where they There is the possibility that

1245
00:59:14,320 --> 00:59:16,480
Speaker 3: Lee mccerro, who is the boss of North Chamber here,

1246
00:59:16,560 --> 00:59:19,320
Speaker 3: has misread the room entirely and that in fact the

1247
00:59:19,920 --> 00:59:21,720
Speaker 3: businesses there do want the compensation.

1248
00:59:21,880 --> 00:59:25,080
Speaker 6: Nick, Well, I think that's news talk z'b who's run

1249
00:59:25,120 --> 00:59:26,919
Speaker 6: the story. It's it's their job to find out.

1250
00:59:27,440 --> 00:59:28,400
Speaker 3: Well, that's what I'm telling you.

1251
00:59:29,160 --> 00:59:32,600
Speaker 6: Yeah, Well, I'm just I mean, I'm only going off

1252
00:59:32,680 --> 00:59:33,600
Speaker 6: what the chambers here.

1253
00:59:33,440 --> 00:59:35,320
Speaker 3: Because because i mean, think about this, Nick, what's your

1254
00:59:35,360 --> 00:59:37,360
Speaker 3: take on this? Okay? If you are a small oyster

1255
00:59:37,480 --> 00:59:40,600
Speaker 3: farmer in Madikana and water Care is just pumping poo

1256
00:59:40,680 --> 00:59:44,160
Speaker 3: into your water and ruining your livelihood, don't you want

1257
00:59:44,240 --> 00:59:46,320
Speaker 3: the ability to be able to go? This is not

1258
00:59:46,480 --> 00:59:48,480
Speaker 3: on And actually I'm going to sue your ass. And

1259
00:59:48,600 --> 00:59:50,960
Speaker 3: if you're the guys in Northland and they just they

1260
00:59:51,080 --> 00:59:54,200
Speaker 3: just some numpty pulls the nuts out and off goes

1261
00:59:54,240 --> 00:59:55,960
Speaker 3: your lights for three or four days and you lose

1262
00:59:56,040 --> 00:59:58,080
Speaker 3: potentially millions, don't you want the ability to go?

1263
00:59:58,200 --> 00:59:58,360
Speaker 16: Hey?

1264
00:59:58,680 --> 00:59:59,360
Speaker 3: You actually owe me?

1265
01:00:00,400 --> 01:00:02,560
Speaker 6: Yep, there should not. There should be some conversation. If

1266
01:00:02,560 --> 01:00:05,800
Speaker 6: you think about the water Care example, there's regulator as

1267
01:00:05,840 --> 01:00:09,640
Speaker 6: there is a transpower to get this stuff right, and that's.

1268
01:00:09,480 --> 01:00:10,680
Speaker 5: What we expect.

1269
01:00:11,000 --> 01:00:13,720
Speaker 6: But the highly you know this, the sort of culture

1270
01:00:13,760 --> 01:00:17,800
Speaker 6: of litigation rewards one group of people in the nation.

1271
01:00:18,160 --> 01:00:21,680
Speaker 6: That's lawyers generally, So there has to be other ways

1272
01:00:21,760 --> 01:00:27,080
Speaker 6: of being fairly allocating losses and giving those sort of

1273
01:00:27,480 --> 01:00:30,960
Speaker 6: those sort of public infrastructure companies sort of the smack

1274
01:00:31,120 --> 01:00:32,560
Speaker 6: on the hand that they need when.

1275
01:00:32,400 --> 01:00:33,120
Speaker 9: They stuff up.

1276
01:00:33,200 --> 01:00:34,880
Speaker 3: Yeah, fair enough, Gareth, you in a way in it all?

1277
01:00:36,120 --> 01:00:38,040
Speaker 12: Oh, I mean I think it's different from the poo

1278
01:00:38,120 --> 01:00:40,160
Speaker 12: and the water thing. You know, this was an accident,

1279
01:00:40,240 --> 01:00:44,000
Speaker 12: It wasn't on intentional, wasn't malicious. But it looks like

1280
01:00:44,120 --> 01:00:47,760
Speaker 12: this litigation is coming from a litigation company, you know,

1281
01:00:48,040 --> 01:00:51,240
Speaker 12: not this hasn't actually come from the community or businesses involved.

1282
01:00:51,480 --> 01:00:54,240
Speaker 12: We'll actually see how many businesses imagine soon.

1283
01:00:54,640 --> 01:00:58,760
Speaker 3: Yeah that's taking the Yeah someone is, and someone's obviously

1284
01:00:58,760 --> 01:01:01,360
Speaker 3: taking the pun because I think we've got a chat. Hey, Gareth,

1285
01:01:01,840 --> 01:01:03,840
Speaker 3: what do you make of this thing about the millennials

1286
01:01:03,920 --> 01:01:06,200
Speaker 3: not doing what the other generations are doing? Like everybody

1287
01:01:06,240 --> 01:01:08,160
Speaker 3: else starts off a little bit you know, hippy dippy,

1288
01:01:08,200 --> 01:01:10,120
Speaker 3: and then becomes more conservative as they get older. But

1289
01:01:10,160 --> 01:01:12,400
Speaker 3: the millennials aren't getting more conservative. They're going the other way.

1290
01:01:13,120 --> 01:01:15,320
Speaker 12: Well, Winston Churchill once said, if you're not a liberal

1291
01:01:15,360 --> 01:01:17,400
Speaker 12: when you're twenty five, you've got no heart. But if

1292
01:01:17,440 --> 01:01:19,320
Speaker 12: you're not a Conservative by the time he's thirty five,

1293
01:01:19,360 --> 01:01:22,120
Speaker 12: you've got no brain. But at least across the dish,

1294
01:01:22,680 --> 01:01:25,640
Speaker 12: in the last four elections, young voters there have been

1295
01:01:26,120 --> 01:01:29,240
Speaker 12: going less conservative. They've been voting for Labour, Green and

1296
01:01:29,320 --> 01:01:31,840
Speaker 12: other parties. And I think it's quite interesting. We can

1297
01:01:31,880 --> 01:01:35,280
Speaker 12: see something similar happening in the US, UK New Zealand

1298
01:01:35,320 --> 01:01:38,200
Speaker 12: politics at the same time. And I think it basically

1299
01:01:38,280 --> 01:01:42,000
Speaker 12: it comes down to that millennials are facing really acute

1300
01:01:42,040 --> 01:01:45,920
Speaker 12: pressure housing on affordability costs, a living climate crisis. They

1301
01:01:45,960 --> 01:01:48,480
Speaker 12: look like the first generation to be worse off than

1302
01:01:48,520 --> 01:01:49,440
Speaker 12: their parents' generation.

1303
01:01:49,800 --> 01:01:49,960
Speaker 2: Yeah.

1304
01:01:50,040 --> 01:01:52,080
Speaker 3: I wonder if that I reckon that that's what's going

1305
01:01:52,120 --> 01:01:54,560
Speaker 3: on here, Nick, is that normally you become more conservative

1306
01:01:54,600 --> 01:01:56,480
Speaker 3: when you settle down, buy a house, have your kids,

1307
01:01:56,800 --> 01:02:00,120
Speaker 3: and millennials are leaving that to so late tonight showing

1308
01:02:00,200 --> 01:02:00,560
Speaker 3: up yet.

1309
01:02:01,000 --> 01:02:04,040
Speaker 6: Yeah, I think I think that's right. I also think

1310
01:02:04,160 --> 01:02:07,920
Speaker 6: that in those countries that Gareth mentioned, a lot of

1311
01:02:07,960 --> 01:02:11,200
Speaker 6: the conservative parties have not got their act together, They've

1312
01:02:11,240 --> 01:02:13,480
Speaker 6: lost their mojo. I mean, you think about the Australian

1313
01:02:14,240 --> 01:02:18,320
Speaker 6: federal election result. You know the Liberal Party had had

1314
01:02:18,360 --> 01:02:21,760
Speaker 6: a terrible result or the coalition had a terrible result,

1315
01:02:22,600 --> 01:02:26,120
Speaker 6: whether it's just you know, the the weather of that election,

1316
01:02:26,760 --> 01:02:29,880
Speaker 6: or whether it is a climate you know, for conservative

1317
01:02:29,880 --> 01:02:32,680
Speaker 6: parties generally, I think I'd want to wait a bit

1318
01:02:32,800 --> 01:02:35,080
Speaker 6: longer to see. But there certainly does seem to be

1319
01:02:35,200 --> 01:02:38,080
Speaker 6: some information up front that suggests that this is the case.

1320
01:02:38,120 --> 01:02:40,840
Speaker 6: And yeah, you sort of feel it, don't you, in

1321
01:02:40,960 --> 01:02:45,680
Speaker 6: your in your cohorts. I think people are keeping their

1322
01:02:45,720 --> 01:02:48,600
Speaker 6: politics longer, or as it says, opting, and as Gareth

1323
01:02:48,640 --> 01:02:51,000
Speaker 6: pointed out, opting for smaller parties as well.

1324
01:02:51,240 --> 01:02:53,760
Speaker 3: Yeah, yeah, fascinating stuff. Hey, listen, guys, thanks very much,

1325
01:02:53,840 --> 01:02:56,600
Speaker 3: go and enjoy yourselves. And you know, I was going

1326
01:02:56,640 --> 01:02:58,600
Speaker 3: to say, fly jet Star, but wait until Thursday and

1327
01:02:58,640 --> 01:03:00,000
Speaker 3: then I'll tell you where you Shoup flying jets are

1328
01:03:00,160 --> 01:03:03,240
Speaker 3: or not. Garethew's Nickleig at our huddle. Seven away from six.

1329
01:03:05,240 --> 01:03:08,680
Speaker 1: It's the Heather Dupless Allen Drive Full Show podcast on

1330
01:03:08,920 --> 01:03:11,360
Speaker 1: my Art Radio powered by News Talk ZB.

1331
01:03:13,600 --> 01:03:15,760
Speaker 3: Five away from six Listen, what I need to tell

1332
01:03:15,760 --> 01:03:17,360
Speaker 3: you about the IID thing, because we're going to talk

1333
01:03:17,360 --> 01:03:19,320
Speaker 3: to centrics about this after six, is that they did

1334
01:03:19,360 --> 01:03:21,360
Speaker 3: a trial. ID did a trial where they got a

1335
01:03:21,400 --> 01:03:23,920
Speaker 3: butage of what they call Calcitrinson and they said, if

1336
01:03:23,920 --> 01:03:25,640
Speaker 3: you don't pay your taxes in the next thirty days,

1337
01:03:25,640 --> 01:03:27,640
Speaker 3: we're going to send you to Centrics. And the trial

1338
01:03:27,760 --> 01:03:31,160
Speaker 3: was so successful that they've decided to basically send everybody

1339
01:03:31,200 --> 01:03:34,040
Speaker 3: to Centrics now. So yeah, we'll find out from Keith

1340
01:03:34,080 --> 01:03:36,680
Speaker 3: exactly Keith McLoughlin from Centrix exactly what happened.

1341
01:03:37,000 --> 01:03:37,160
Speaker 2: Now.

1342
01:03:37,960 --> 01:03:41,720
Speaker 3: I look, I'm aware and potentially overloading you on, you know,

1343
01:03:41,840 --> 01:03:45,560
Speaker 3: like flight stuff. But then Sam the producer ran over

1344
01:03:45,640 --> 01:03:47,360
Speaker 3: and he's like, you are not going to believe what

1345
01:03:47,520 --> 01:03:49,800
Speaker 3: has happened? And Sam is with me. Now has Sam gone?

1346
01:03:49,840 --> 01:03:52,960
Speaker 19: Man, it's not a great impression. I have a very

1347
01:03:53,000 --> 01:03:55,880
Speaker 19: close family member who is on their first holiday with

1348
01:03:56,000 --> 01:03:58,720
Speaker 19: their kids, flying in New Zealand. They're coming back lovely

1349
01:03:58,800 --> 01:04:00,120
Speaker 19: Gold Coast holiday.

1350
01:04:00,440 --> 01:04:03,080
Speaker 3: Context two of them, both of them are under five, two.

1351
01:04:03,160 --> 01:04:05,800
Speaker 19: Under five, as you can imagine. I'm sure you travel

1352
01:04:05,840 --> 01:04:08,760
Speaker 19: with your kids all the time. So flying from Brisbane

1353
01:04:08,840 --> 01:04:13,560
Speaker 19: to Wellington, they were told the flight was delayed twice.

1354
01:04:13,480 --> 01:04:15,320
Speaker 3: By in New Zealand, by in New Zealand.

1355
01:04:15,760 --> 01:04:18,480
Speaker 19: And in New Zealand said to them, they said, if

1356
01:04:18,560 --> 01:04:20,360
Speaker 19: you will get you there, we'll get you.

1357
01:04:20,400 --> 01:04:20,800
Speaker 2: There on time.

1358
01:04:20,880 --> 01:04:22,600
Speaker 19: It's all good. It's delayed, but it's a tight turn around,

1359
01:04:22,640 --> 01:04:25,080
Speaker 19: but we'll do it. Get to the airport delayed again.

1360
01:04:25,240 --> 01:04:27,000
Speaker 19: Now they're going to miss the last flight from Auckland

1361
01:04:27,040 --> 01:04:29,120
Speaker 19: to Wellington. Any Zealand says it's a good though. We're

1362
01:04:29,120 --> 01:04:30,520
Speaker 19: gonna fly you to Melbourne and then we could fly

1363
01:04:30,600 --> 01:04:33,080
Speaker 19: you directly to Wellington from Melbourne, fly all the way

1364
01:04:33,120 --> 01:04:36,440
Speaker 19: to Melbourne. Guess what's canceled? Melbourne to Wellington baby, So

1365
01:04:36,640 --> 01:04:40,040
Speaker 19: then now they're flying from Melbourne to Auckland, staying overnight

1366
01:04:40,320 --> 01:04:42,880
Speaker 19: in Auckland at their own expense. By the way, they

1367
01:04:42,880 --> 01:04:44,840
Speaker 19: pay for the hotel. They pay for the hotel, they

1368
01:04:44,920 --> 01:04:46,840
Speaker 19: pay for the uber, they pay for it all. And

1369
01:04:47,240 --> 01:04:49,600
Speaker 19: then they're gonna have to fly first thing and to

1370
01:04:49,720 --> 01:04:50,440
Speaker 19: Wellington tomorrow.

1371
01:04:50,480 --> 01:04:54,479
Speaker 3: But the Kecker, Heather the cacker okay, so even better

1372
01:04:54,560 --> 01:04:57,400
Speaker 3: than having caught some random ass flight from Brisbane to

1373
01:04:57,480 --> 01:05:00,600
Speaker 3: Melbourne that you didn't have to cash. Right next bit,

1374
01:05:01,000 --> 01:05:03,040
Speaker 3: they're not going to get their bags.

1375
01:05:03,520 --> 01:05:06,440
Speaker 19: The bags are going straight to Wellington, Okay.

1376
01:05:06,600 --> 01:05:09,960
Speaker 3: So they're going to overnight tonight in Auckland at their

1377
01:05:10,000 --> 01:05:12,680
Speaker 3: own expense, with two children under the age of five,

1378
01:05:13,120 --> 01:05:15,840
Speaker 3: with no gear whatsoever. I'm happy. I got to donate

1379
01:05:15,920 --> 01:05:19,920
Speaker 3: my nieces donations gratefully accepted. And I really love how

1380
01:05:20,240 --> 01:05:22,360
Speaker 3: how Sam was trying to hide who the family member

1381
01:05:22,440 --> 01:05:24,120
Speaker 3: was and then just completely fessed up by calling the

1382
01:05:24,200 --> 01:05:27,080
Speaker 3: children the nieces. Anyway, there we go, There you go,

1383
01:05:27,320 --> 01:05:29,920
Speaker 3: so yay in New Zealand. Okay, Centric is with us.

1384
01:05:29,960 --> 01:05:47,000
Speaker 1: Next we're Business who meets inside the Business Hour with

1385
01:05:47,200 --> 01:05:50,760
Speaker 1: Heather duple c Allen and Ma's Motor Vehicle Insurance, Your

1386
01:05:50,880 --> 01:05:52,520
Speaker 1: futures in good Hands?

1387
01:05:52,840 --> 01:05:53,720
Speaker 2: News talks. There be.

1388
01:05:55,400 --> 01:05:57,400
Speaker 3: Even in coming up for the next hour. Sam Dickey

1389
01:05:57,480 --> 01:05:59,880
Speaker 3: thinks that maybe some of the AI bubbles have already

1390
01:05:59,880 --> 01:06:02,520
Speaker 3: started popping and popped. He's with us after six point

1391
01:06:02,520 --> 01:06:05,160
Speaker 3: thirty to explain Brad Olson on the upside of this

1392
01:06:05,400 --> 01:06:08,200
Speaker 3: recession and end the Brady on that big UK budget

1393
01:06:08,280 --> 01:06:11,520
Speaker 3: overnight seven past six. Now, if you still owe the

1394
01:06:11,600 --> 01:06:13,440
Speaker 3: IID money, you might want to get on top of

1395
01:06:13,480 --> 01:06:15,360
Speaker 3: it because they're going to start reporting people who don't

1396
01:06:15,400 --> 01:06:18,040
Speaker 3: pay their taxes to Centrics, which means it's going to

1397
01:06:18,080 --> 01:06:21,640
Speaker 3: affect your credit rating. Keith McLaughlin is the managing director

1398
01:06:21,680 --> 01:06:25,040
Speaker 3: of Centrics and with US high keying this. This is

1399
01:06:25,080 --> 01:06:26,080
Speaker 3: a great move, isn't it?

1400
01:06:27,160 --> 01:06:27,320
Speaker 9: Well?

1401
01:06:27,360 --> 01:06:29,040
Speaker 4: It is, but I think I should point out that

1402
01:06:29,160 --> 01:06:32,040
Speaker 4: this does relate to company debt, not to personal debt,

1403
01:06:32,200 --> 01:06:36,520
Speaker 4: so at the stage the only party's affected a companies

1404
01:06:36,560 --> 01:06:37,120
Speaker 4: in New Zealand.

1405
01:06:37,600 --> 01:06:39,880
Speaker 3: But the impact of it is that it's more transparent

1406
01:06:39,920 --> 01:06:42,080
Speaker 3: and more honest, isn't it Because if a company is

1407
01:06:42,160 --> 01:06:45,120
Speaker 3: owing money to IID and then turns up on your books,

1408
01:06:45,360 --> 01:06:46,760
Speaker 3: others will not lend to it as well.

1409
01:06:47,680 --> 01:06:47,800
Speaker 10: Well.

1410
01:06:47,880 --> 01:06:52,080
Speaker 4: That's correct. Historically, if the text debts aren't displayed on

1411
01:06:52,160 --> 01:06:54,560
Speaker 4: a credit report, then somebody does a credit report assumes

1412
01:06:54,560 --> 01:06:57,640
Speaker 4: that everything is fine, totally oblivious to the fact that

1413
01:06:57,720 --> 01:06:59,919
Speaker 4: there may be a significant debt ow into the text apart,

1414
01:07:01,080 --> 01:07:05,880
Speaker 4: and that could result in them advancing credit or providing

1415
01:07:05,920 --> 01:07:08,360
Speaker 4: goods and services and really being caught out.

1416
01:07:08,840 --> 01:07:11,960
Speaker 3: Keith, Australia already does this. Why doesn't our ird do it?

1417
01:07:12,800 --> 01:07:16,320
Speaker 4: Well, we started the process back in twenty seventeen and

1418
01:07:16,320 --> 01:07:20,960
Speaker 4: at that stage they did introduce the ability to load

1419
01:07:21,360 --> 01:07:24,320
Speaker 4: tax debt back in twenty seventeen, but it was a

1420
01:07:24,440 --> 01:07:28,240
Speaker 4: very cumbersome method and I think Australia really shortcut it.

1421
01:07:28,320 --> 01:07:31,840
Speaker 4: They dropped the process, made a lot easier to load

1422
01:07:31,880 --> 01:07:35,640
Speaker 4: their debts with a credit bureau and I think having

1423
01:07:35,680 --> 01:07:37,400
Speaker 4: had another look at what they do in Australia, I

1424
01:07:37,440 --> 01:07:40,320
Speaker 4: think New Zealand decided that there is a room to

1425
01:07:40,360 --> 01:07:42,520
Speaker 4: improve the system here in New Zealand. And is it

1426
01:07:42,600 --> 01:07:46,680
Speaker 4: improved well, very much so. I mean we're now really

1427
01:07:46,760 --> 01:07:49,800
Speaker 4: starting to see the Tax Department moving a lot quicker

1428
01:07:50,880 --> 01:07:53,320
Speaker 4: the text leaders coming through to the Bureau and it

1429
01:07:53,360 --> 01:07:58,120
Speaker 4: will make a significant change to business credit going forward

1430
01:07:58,200 --> 01:08:01,720
Speaker 4: because that transparency change the way that credit is provided

1431
01:08:01,800 --> 01:08:02,880
Speaker 4: to businesses and new selling.

1432
01:08:03,160 --> 01:08:05,760
Speaker 3: So these guys did a trial earlier this month on

1433
01:08:05,880 --> 01:08:08,120
Speaker 3: this right and they had thirty different outfits and they

1434
01:08:08,200 --> 01:08:10,040
Speaker 3: told those outfits, if you don't pay your taxes, you're

1435
01:08:10,040 --> 01:08:12,080
Speaker 3: going to going to get reported to Centrics. And they

1436
01:08:12,120 --> 01:08:13,840
Speaker 3: said it was successful, but they didn't say how many

1437
01:08:13,840 --> 01:08:15,360
Speaker 3: of them actually paid the taxes. Do you know the

1438
01:08:15,440 --> 01:08:16,280
Speaker 3: outcome of the trial?

1439
01:08:17,080 --> 01:08:20,200
Speaker 4: No, I don't. At the stage, we effectively load it

1440
01:08:20,320 --> 01:08:22,880
Speaker 4: and they're and part of the delay was setting up

1441
01:08:22,920 --> 01:08:26,000
Speaker 4: systems so that they can update us, because no point

1442
01:08:26,080 --> 01:08:28,160
Speaker 4: in just loading information onto the Bureau and they're not

1443
01:08:28,320 --> 01:08:31,560
Speaker 4: maintaining or updating that data. So there's the process that

1444
01:08:31,600 --> 01:08:33,200
Speaker 4: we're going through at the moment. As part of that

1445
01:08:33,320 --> 01:08:35,599
Speaker 4: pilot is to make sure that it's not just dropped

1446
01:08:35,600 --> 01:08:37,240
Speaker 4: into the bureau and forgotten about it. I mean, it's

1447
01:08:37,240 --> 01:08:39,439
Speaker 4: an obligation to keep it accurate, to keep it current,

1448
01:08:40,120 --> 01:08:43,000
Speaker 4: and that's the process we're working through at the moment. So, yes,

1449
01:08:43,880 --> 01:08:46,080
Speaker 4: they have started loading it, but we are still working

1450
01:08:46,160 --> 01:08:49,240
Speaker 4: through at the moment. There's still a reasonable menu limput

1451
01:08:49,560 --> 01:08:51,559
Speaker 4: and we're trying to get that as electronic as we can,

1452
01:08:51,640 --> 01:08:54,839
Speaker 4: so there's automatic updates come through from the Tax Department

1453
01:08:54,960 --> 01:08:56,160
Speaker 4: into the Centric database.

1454
01:08:56,280 --> 01:08:58,479
Speaker 3: Yeah, brilliant. Hey, thank you very much, Keith, appreciate your

1455
01:08:58,520 --> 01:09:01,240
Speaker 3: time as always. Keep Aglocklin, Managing director of CENTRICX ten par.

1456
01:09:01,280 --> 01:09:03,000
Speaker 2: Six Heather do for c Allen.

1457
01:09:03,800 --> 01:09:05,880
Speaker 3: Apparently the boss, and I am not surprised at all

1458
01:09:05,920 --> 01:09:07,920
Speaker 3: to read this, but apparently the boss of New Zealand

1459
01:09:08,000 --> 01:09:10,879
Speaker 3: Cricket is in trouble and is fighting for his survival.

1460
01:09:11,200 --> 01:09:13,800
Speaker 3: And apparently this is because of the so called Tea

1461
01:09:13,880 --> 01:09:16,640
Speaker 3: twenty Rebel Cricket League. Now, I don't know if you

1462
01:09:16,680 --> 01:09:19,320
Speaker 3: remember this, but we talked about this a couple of

1463
01:09:19,360 --> 01:09:21,639
Speaker 3: weeks ago, maybe on the show, when the news first

1464
01:09:21,680 --> 01:09:24,400
Speaker 3: broken one of the newspapers that this T twenty league

1465
01:09:24,439 --> 01:09:26,000
Speaker 3: might get off the ground, and it was weird at

1466
01:09:26,040 --> 01:09:28,200
Speaker 3: the time, and I think we talked about this on

1467
01:09:28,280 --> 01:09:31,360
Speaker 3: air about how weird this was. That basically everyone supported

1468
01:09:31,360 --> 01:09:33,680
Speaker 3: the idea of setting up this TEA twenty league in

1469
01:09:33,760 --> 01:09:37,040
Speaker 3: New Zealand in January. The Cricket Board supported it and

1470
01:09:38,320 --> 01:09:41,200
Speaker 3: like named members of the Cricket Board, the cricket provinces

1471
01:09:41,240 --> 01:09:43,160
Speaker 3: all six of them supported. You had the old boy

1472
01:09:43,240 --> 01:09:46,360
Speaker 3: cricketers like Daniel Vittori and Stephen Fleming supporting it, but

1473
01:09:46,560 --> 01:09:49,760
Speaker 3: the boss of New Zealand Cricket did not support it.

1474
01:09:49,800 --> 01:09:52,240
Speaker 3: This is Scott Winning. It is now being reported that

1475
01:09:52,360 --> 01:09:55,439
Speaker 3: he is being accused, it seems, by the New Zealand

1476
01:09:55,479 --> 01:09:59,120
Speaker 3: Cricket Board of actively undermining the plan and there are

1477
01:09:59,160 --> 01:10:01,120
Speaker 3: now plans to get of him from the top job.

1478
01:10:01,200 --> 01:10:03,640
Speaker 3: Now it is I have to say that they are

1479
01:10:03,840 --> 01:10:07,639
Speaker 3: publicly denying us. But we'll see how it shakes down,

1480
01:10:07,760 --> 01:10:09,720
Speaker 3: because the fact that he is in some kind of

1481
01:10:09,720 --> 01:10:12,320
Speaker 3: an employment dispute with them doesn't surprise me after that

1482
01:10:12,439 --> 01:10:14,439
Speaker 3: thing played out. Anyway, We'll see what goes, what happens,

1483
01:10:14,439 --> 01:10:16,960
Speaker 3: because that by the way that T twenty league, I

1484
01:10:17,040 --> 01:10:18,559
Speaker 3: think it has to happen, and by the looks of things,

1485
01:10:18,600 --> 01:10:19,840
Speaker 3: it's going to happen, and they're going to make it

1486
01:10:19,920 --> 01:10:23,360
Speaker 3: happen now. The Reuter's article that brad Olson pointed me

1487
01:10:23,479 --> 01:10:27,759
Speaker 3: to says it's this is the headline analysis New Zealand's

1488
01:10:27,760 --> 01:10:31,719
Speaker 3: housing funk, sow's doubt on reliable investment strategy, drags on economy,

1489
01:10:31,720 --> 01:10:35,040
Speaker 3: which is what we were talking about before, and Lucy

1490
01:10:35,120 --> 01:10:38,280
Speaker 3: Kramer of Router's give her the credit. A dramatic boombust

1491
01:10:38,439 --> 01:10:40,880
Speaker 3: cycle in New Zealand's housing market has left many kiwis

1492
01:10:40,880 --> 01:10:44,080
Speaker 3: An investors scarred and an economy struggling to fire, turning

1493
01:10:44,160 --> 01:10:47,240
Speaker 3: what was once a trusted strategy for creating wealth into

1494
01:10:47,280 --> 01:10:50,280
Speaker 3: a period of unease and potentially smaller future returns for

1495
01:10:50,400 --> 01:10:53,280
Speaker 3: a generation of New Zealanders who have enjoyed average annual

1496
01:10:53,320 --> 01:10:56,519
Speaker 3: returns of roughly seven percent in housing over the last

1497
01:10:56,560 --> 01:11:00,000
Speaker 3: three decades. The decline in prices for three consecutive years

1498
01:11:00,160 --> 01:11:03,960
Speaker 3: since twenty twenty one is unprecedented. In fact, property prices

1499
01:11:04,240 --> 01:11:07,320
Speaker 3: property values dropped in only two of the years since

1500
01:11:07,439 --> 01:11:09,920
Speaker 3: nineteen ninety, making investment in housing a sure bet for

1501
01:11:10,000 --> 01:11:13,600
Speaker 3: key he's in a major driver of economic growth. Analysts

1502
01:11:13,720 --> 01:11:16,120
Speaker 3: note that with over half of New Zealand's household wealth

1503
01:11:16,160 --> 01:11:18,759
Speaker 3: tied up in property. The downturn has had a chilling

1504
01:11:18,800 --> 01:11:21,920
Speaker 3: effect on consumption and the economy. Talks to brad Elson.

1505
01:11:22,200 --> 01:11:24,160
Speaker 3: Brad thinks this is a good thing, and I think

1506
01:11:24,200 --> 01:11:27,160
Speaker 3: it is true. We'll talk to him next thirteen plus six.

1507
01:11:28,160 --> 01:11:31,400
Speaker 1: It's the Heather Duper c Allen Drive Full Show podcast

1508
01:11:31,520 --> 01:11:34,320
Speaker 1: on my Heart Radio powered by Newstalk Zebbi.

1509
01:11:35,880 --> 01:11:38,600
Speaker 3: Hey, there are some films that feel disturbingly relevant to

1510
01:11:38,640 --> 01:11:40,720
Speaker 3: the moment that we're living in, and Nuremberg is one

1511
01:11:40,720 --> 01:11:42,560
Speaker 3: of them. It's based on the best selling book The

1512
01:11:42,640 --> 01:11:45,040
Speaker 3: Nazi and the Psychiatrist, and it takes you inside the

1513
01:11:45,120 --> 01:11:48,080
Speaker 3: Nuremberg trials eighty years ago this year, the moment that

1514
01:11:48,200 --> 01:11:51,200
Speaker 3: changed international law forever. And look, Russell Crowe had a

1515
01:11:51,240 --> 01:11:53,240
Speaker 3: remarkable career, but I have to say this might actually

1516
01:11:53,280 --> 01:11:56,200
Speaker 3: be one of his best performances in years. He delivers

1517
01:11:56,240 --> 01:11:59,280
Speaker 3: what critics are already calling an Oscar worthy performances. Herman

1518
01:11:59,360 --> 01:12:03,080
Speaker 3: Gouring Hitler's right hand man. It's a gripping psychological battle

1519
01:12:03,120 --> 01:12:05,880
Speaker 3: between Russell Crowe and Rummy Mallick, and honestly, it's some

1520
01:12:05,920 --> 01:12:07,639
Speaker 3: of the best work that either of them has ever done.

1521
01:12:07,840 --> 01:12:11,240
Speaker 3: The ensemble cast is extraordinary, Michael Shannon, Richard E. Grant,

1522
01:12:11,320 --> 01:12:14,880
Speaker 3: He's wonderful, Leo woodle our own Lydia Peckham. This world

1523
01:12:14,960 --> 01:12:18,120
Speaker 3: premiere at Toronto. It's directed by the screenwriter of Zodiac

1524
01:12:18,200 --> 01:12:20,559
Speaker 3: and it's a film that needs to be seen in cinemas.

1525
01:12:20,600 --> 01:12:24,720
Speaker 3: The cinematography alone is stunning. Nuremberg out December fourth, with

1526
01:12:24,840 --> 01:12:28,680
Speaker 3: advanced previews the weekend before approaching.

1527
01:12:28,240 --> 01:12:30,080
Speaker 2: The numbers and getting the results.

1528
01:12:30,320 --> 01:12:33,800
Speaker 1: It's Heather Dupless Allen on the Business Hour with MAS

1529
01:12:33,920 --> 01:12:35,040
Speaker 1: Motor Vehicle Insurance.

1530
01:12:35,280 --> 01:12:37,080
Speaker 2: Your futures in good hands?

1531
01:12:37,479 --> 01:12:40,320
Speaker 3: Used talks'd be sounds like we may have a secondary

1532
01:12:40,360 --> 01:12:42,519
Speaker 3: teacher payoffer that's been considered. To run you through the

1533
01:12:42,600 --> 01:12:45,719
Speaker 3: details shortly, but a good bit about in it. Seventeen

1534
01:12:45,840 --> 01:12:48,559
Speaker 3: past six. Now, the Reserve Bank yesterday blamed our prolonged

1535
01:12:48,600 --> 01:12:50,320
Speaker 3: recession and they've done this before on the fact that

1536
01:12:50,360 --> 01:12:52,360
Speaker 3: we don't feel wealthy because the house prices haven't been

1537
01:12:52,439 --> 01:12:55,040
Speaker 3: rising as they used to. This may, though, be the

1538
01:12:55,120 --> 01:12:57,640
Speaker 3: correction that we actually really need. Brad OLSENI is in

1539
01:12:57,680 --> 01:12:59,920
Speaker 3: for metrics principle economist and with us Now, Hi, Brad,

1540
01:13:00,840 --> 01:13:03,360
Speaker 3: good evening. Do you still I mean you said to

1541
01:13:03,400 --> 01:13:05,040
Speaker 3: me in the text I text here today, I said,

1542
01:13:05,080 --> 01:13:06,880
Speaker 3: do you still think it was worth it because it's

1543
01:13:06,880 --> 01:13:10,559
Speaker 3: made this recession so hard? And you see, yes, why, oh.

1544
01:13:10,520 --> 01:13:12,760
Speaker 21: Well, just I mean simply because you know, what we've

1545
01:13:12,800 --> 01:13:15,000
Speaker 21: done before has just been such a short term sugar

1546
01:13:15,040 --> 01:13:17,080
Speaker 21: hit that you've yeah, okay, you might have got a

1547
01:13:17,080 --> 01:13:19,000
Speaker 21: little bit more economic activity out of it, but you

1548
01:13:19,080 --> 01:13:20,960
Speaker 21: look at the sort of social ills that have come

1549
01:13:21,040 --> 01:13:23,560
Speaker 21: from it. When you've been locking generations out of the

1550
01:13:23,640 --> 01:13:25,880
Speaker 21: housing market, you've got the numbers in such a state

1551
01:13:25,960 --> 01:13:28,559
Speaker 21: that you know, for a long period of time, genuinely

1552
01:13:28,720 --> 01:13:31,640
Speaker 21: kiwis were not feeling like they could actually afford a

1553
01:13:31,720 --> 01:13:33,599
Speaker 21: house and you were seeing, you know, the rug pulled

1554
01:13:33,600 --> 01:13:37,400
Speaker 21: out for under under us. So I'm actually pretty okay

1555
01:13:37,560 --> 01:13:39,920
Speaker 21: with the fact that we might have had a slightly

1556
01:13:40,080 --> 01:13:43,320
Speaker 21: slower recovery, but a more sustainable one. And let's be clear,

1557
01:13:43,560 --> 01:13:45,720
Speaker 21: you look at some of the economic numbers at the moment, Yes,

1558
01:13:45,880 --> 01:13:48,400
Speaker 21: it's tough, but I still think that we're actually seeing

1559
01:13:48,520 --> 01:13:50,559
Speaker 21: already a bit of the early fruits of the labor

1560
01:13:50,600 --> 01:13:53,760
Speaker 21: there when we've been able to decouple economic activity a

1561
01:13:53,840 --> 01:13:56,400
Speaker 21: bit more with house prices. House prices of what gone

1562
01:13:56,479 --> 01:13:59,200
Speaker 21: sideways at best this year we had consumer spending data

1563
01:13:59,280 --> 01:14:01,240
Speaker 21: out today that show to one point nine percent left

1564
01:14:01,360 --> 01:14:04,240
Speaker 21: quarter on quarter, So we can have both. We can

1565
01:14:04,360 --> 01:14:08,320
Speaker 21: have better housing outcomes and still economic activity without having

1566
01:14:08,360 --> 01:14:11,200
Speaker 21: to sort of inextricably link ourselves to a rocket to

1567
01:14:11,240 --> 01:14:12,559
Speaker 21: shoot up to the moon and then blow up.

1568
01:14:12,640 --> 01:14:15,040
Speaker 3: How much harder, Like, can you actually quantify how much

1569
01:14:15,120 --> 01:14:17,559
Speaker 3: harder the wealth effect going into the negative has made

1570
01:14:17,600 --> 01:14:18,240
Speaker 3: this recession.

1571
01:14:19,560 --> 01:14:21,599
Speaker 21: It's tricky to sort of pull out at an exact

1572
01:14:21,680 --> 01:14:23,120
Speaker 21: number and say, you know, we would have been in

1573
01:14:23,160 --> 01:14:25,240
Speaker 21: a better spot six months earlier or whatever it might

1574
01:14:25,280 --> 01:14:27,560
Speaker 21: have been, because I think also like part of this

1575
01:14:27,760 --> 01:14:31,240
Speaker 21: is also just a fairly realistic reaction from investors, from

1576
01:14:31,400 --> 01:14:33,840
Speaker 21: homeowners who are going, you know what, like, there's still

1577
01:14:33,880 --> 01:14:36,000
Speaker 21: houses being sold in the market, right, you know, health

1578
01:14:36,040 --> 01:14:38,680
Speaker 21: sales at the moment are back towards sort of you know,

1579
01:14:38,880 --> 01:14:42,400
Speaker 21: historical averages roughly, So it's not like there's no activity happening.

1580
01:14:42,439 --> 01:14:44,280
Speaker 21: It's just I think that we're not boostering things to

1581
01:14:44,360 --> 01:14:46,880
Speaker 21: quite the same degree. And from that wealth effect point

1582
01:14:46,880 --> 01:14:48,599
Speaker 21: of view, you do often look at that and go, well,

1583
01:14:48,960 --> 01:14:52,880
Speaker 21: was that people that were feeling wealthier and spending their money,

1584
01:14:53,120 --> 01:14:55,240
Speaker 21: But was that actually good for them themselves? When you know,

1585
01:14:55,320 --> 01:14:57,519
Speaker 21: they might have been putting it into increasingly sort of

1586
01:14:57,600 --> 01:15:00,400
Speaker 21: speculative areas. Put it this way, I think this is

1587
01:15:00,400 --> 01:15:03,400
Speaker 21: probably where it's a lot more encouraging from an economic

1588
01:15:03,479 --> 01:15:06,080
Speaker 21: point of view. People are quite sensibly now tossing up

1589
01:15:06,120 --> 01:15:07,599
Speaker 21: and going do I put my money in the bank,

1590
01:15:07,920 --> 01:15:09,920
Speaker 21: Do I think about buying a house? Do I think

1591
01:15:09,960 --> 01:15:12,840
Speaker 21: about building a business? Do I invest in some listed

1592
01:15:12,880 --> 01:15:15,360
Speaker 21: stocks or something? People having a much more rational idea

1593
01:15:15,400 --> 01:15:16,880
Speaker 21: of where do I put my money and where do

1594
01:15:16,960 --> 01:15:19,080
Speaker 21: I get a return? Rather than you know, previously it

1595
01:15:19,160 --> 01:15:21,360
Speaker 21: did feel like sort of flash being economics when we

1596
01:15:21,479 --> 01:15:24,000
Speaker 21: were working so much in the housing market that was

1597
01:15:24,160 --> 01:15:25,320
Speaker 21: just such big numbers.

1598
01:15:25,560 --> 01:15:27,960
Speaker 3: I mean, the point I've made before here I find

1599
01:15:28,000 --> 01:15:29,160
Speaker 3: that it's wrong and it.

1600
01:15:29,240 --> 01:15:32,280
Speaker 21: Was clearly not sustainable when back a couple of years ago,

1601
01:15:32,400 --> 01:15:33,880
Speaker 21: I would have been better to have been made of

1602
01:15:33,920 --> 01:15:36,559
Speaker 21: weatherboard than flesh and bone in terms of earning potential

1603
01:15:36,920 --> 01:15:39,760
Speaker 21: like that. If anyone's sitting out there and going, you

1604
01:15:39,840 --> 01:15:41,479
Speaker 21: know what, those were the good old days, that is

1605
01:15:41,600 --> 01:15:43,200
Speaker 21: not a good old day that was ever going to

1606
01:15:43,280 --> 01:15:46,320
Speaker 21: persist for a long time. So more sensible, way better

1607
01:15:46,360 --> 01:15:47,400
Speaker 21: of an approach for their homes.

1608
01:15:47,400 --> 01:15:49,720
Speaker 3: Okay, So I mean, and the thing about it is

1609
01:15:49,840 --> 01:15:51,479
Speaker 3: that what we need to understand is that's never going

1610
01:15:51,520 --> 01:15:53,360
Speaker 3: to happen again, is it. We've got all of these

1611
01:15:53,400 --> 01:15:55,680
Speaker 3: things in place like DTIs now that will prevent that

1612
01:15:55,760 --> 01:15:59,639
Speaker 3: ever happening. So can we be sure that we will

1613
01:15:59,720 --> 01:16:01,960
Speaker 3: never pile back into houses in the way that we

1614
01:16:02,080 --> 01:16:04,040
Speaker 3: did before, and we will continue to put our money

1615
01:16:04,040 --> 01:16:05,080
Speaker 3: in more productive assets.

1616
01:16:06,040 --> 01:16:08,720
Speaker 21: I feel like no economists should ever say never, never

1617
01:16:08,800 --> 01:16:11,880
Speaker 21: say never, you know. But realistically, I mean, you're right

1618
01:16:11,920 --> 01:16:13,920
Speaker 21: that yes we had you know, well, we've now got

1619
01:16:14,000 --> 01:16:16,960
Speaker 21: details we've previously had our vrs. We still had house

1620
01:16:17,040 --> 01:16:19,519
Speaker 21: prices at skyrocketed like thirty percent within a year when

1621
01:16:19,600 --> 01:16:21,960
Speaker 21: we dropped interest rates really low. So I think it's

1622
01:16:22,040 --> 01:16:24,120
Speaker 21: more at the moment that you've sort of had the

1623
01:16:24,240 --> 01:16:27,960
Speaker 21: market shopped a little bit and gone Actually expecting ironclad

1624
01:16:28,040 --> 01:16:30,600
Speaker 21: massive returns on an asset is probably not likely to

1625
01:16:30,680 --> 01:16:33,400
Speaker 21: be long term. And more importantly, yes, you haven't seen

1626
01:16:33,439 --> 01:16:36,760
Speaker 21: the full impact of supply coming into the market. Yes

1627
01:16:36,800 --> 01:16:38,000
Speaker 21: we had a lot of building, but there's a lot

1628
01:16:38,080 --> 01:16:40,360
Speaker 21: more the government wants to do. It's more than mindset.

1629
01:16:40,479 --> 01:16:42,280
Speaker 21: Everyone's sitting out there now and going, you know what,

1630
01:16:42,680 --> 01:16:44,559
Speaker 21: I might still be able to make a house work

1631
01:16:44,640 --> 01:16:46,880
Speaker 21: as an investment property or eything else. But it's not

1632
01:16:46,960 --> 01:16:48,320
Speaker 21: going to be the sort of thing where I can

1633
01:16:48,400 --> 01:16:51,640
Speaker 21: just fall, you know, unassumingly into housing and it's going

1634
01:16:51,720 --> 01:16:53,720
Speaker 21: to make me a megabillionaire. It's that you've actually got

1635
01:16:53,800 --> 01:16:55,200
Speaker 21: to do a bit more hard work. You've got to

1636
01:16:55,240 --> 01:16:56,760
Speaker 21: run your numbers, you've got to have the right option.

1637
01:16:56,920 --> 01:16:58,920
Speaker 21: So in that sense, I think people are going to

1638
01:16:58,920 --> 01:17:02,920
Speaker 21: be a lot more shy of committing wholly and solely

1639
01:17:03,040 --> 01:17:05,000
Speaker 21: into housing. They're gonna spread their risk a whole lot

1640
01:17:05,080 --> 01:17:06,040
Speaker 21: more and that's healthy.

1641
01:17:06,240 --> 01:17:07,720
Speaker 3: Yeah, They're gonna have to think about it a bit more.

1642
01:17:07,760 --> 01:17:09,120
Speaker 3: So we come out of this probably in a better

1643
01:17:09,160 --> 01:17:11,240
Speaker 3: place as an economy. Hey, thank you for that, Brad.

1644
01:17:11,280 --> 01:17:14,200
Speaker 3: Appreciated Brad Olson. In the metrics principal economs, right, I'm

1645
01:17:14,200 --> 01:17:16,759
Speaker 3: going to run you through what we understand the payoffer

1646
01:17:16,800 --> 01:17:18,720
Speaker 3: for the teachers, the secondary school teachers to be next

1647
01:17:18,720 --> 01:17:19,400
Speaker 3: six to twenty one.

1648
01:17:19,920 --> 01:17:23,679
Speaker 1: Whether it's macro, micro or just plain economics, it's all

1649
01:17:23,920 --> 01:17:26,840
Speaker 1: on the business hour where the heather duper cilm and

1650
01:17:27,160 --> 01:17:28,759
Speaker 1: mass motor vehicle insurance.

1651
01:17:29,040 --> 01:17:31,719
Speaker 2: Your futures in good hands us dogs.

1652
01:17:31,720 --> 01:17:35,599
Speaker 3: That'd be Okay, So this is the secondary offer apparently

1653
01:17:35,640 --> 01:17:38,479
Speaker 3: that the teachers have been given it they're apparently voting on.

1654
01:17:38,560 --> 01:17:40,719
Speaker 3: They get a pay increase of two point five percent

1655
01:17:40,800 --> 01:17:43,360
Speaker 3: in January next year, and then depending on their salary band,

1656
01:17:43,360 --> 01:17:46,120
Speaker 3: they get another pay increase in twenty twenty seven of

1657
01:17:46,280 --> 01:17:49,880
Speaker 3: somewhere between two to two point one percent. Now unfortunate.

1658
01:17:50,000 --> 01:17:52,680
Speaker 3: So that's yay, whatever, But this is the thing that

1659
01:17:52,760 --> 01:17:56,000
Speaker 3: I'm not loving. Unfortunately, the teachers will be able to

1660
01:17:56,120 --> 01:18:00,360
Speaker 3: continue having teacher only days during school term. Remember that

1661
01:18:00,520 --> 01:18:02,120
Speaker 3: was the big fight that they were having about the

1662
01:18:02,600 --> 01:18:04,720
Speaker 3: callback days or something like that, and the government wanted

1663
01:18:04,760 --> 01:18:07,280
Speaker 3: to increase the number of callback days that they would

1664
01:18:07,320 --> 01:18:10,240
Speaker 3: have in holidays to basically get the teachers to do

1665
01:18:10,320 --> 01:18:12,479
Speaker 3: the teacher only days and the professional development in the

1666
01:18:12,520 --> 01:18:14,920
Speaker 3: holidays like you know, I don't know candy teachers do,

1667
01:18:15,760 --> 01:18:18,040
Speaker 3: but the teachers know. The teachers want to. They wanted

1668
01:18:18,080 --> 01:18:20,160
Speaker 3: to preserve and retain the ability to be able to,

1669
01:18:20,360 --> 01:18:22,840
Speaker 3: you know, send the kids home when it's actual learning

1670
01:18:22,880 --> 01:18:25,880
Speaker 3: time and take a teacher only day. However, so they

1671
01:18:25,960 --> 01:18:29,799
Speaker 3: get to keep that. However, if they do the teacher

1672
01:18:29,920 --> 01:18:32,560
Speaker 3: only days during term time, like they clearly want to

1673
01:18:32,600 --> 01:18:34,840
Speaker 3: be able to. They will not be able to claim

1674
01:18:34,920 --> 01:18:37,800
Speaker 3: expenses like they used to. And the expenses I was

1675
01:18:37,880 --> 01:18:40,200
Speaker 3: kind of surprised to read some of the expenses, including

1676
01:18:40,280 --> 01:18:44,000
Speaker 3: things like childcare and stuff like that. So they're still

1677
01:18:44,080 --> 01:18:47,680
Speaker 3: going to be It looks like it's a gentle incentivizing, right, Like,

1678
01:18:47,800 --> 01:18:49,160
Speaker 3: you know, you've got to do this with the toddlers.

1679
01:18:49,200 --> 01:18:52,080
Speaker 3: You want to incentivize them. So it's incentivizing them to

1680
01:18:52,160 --> 01:18:54,000
Speaker 3: take it during the school holidays because then they get

1681
01:18:54,040 --> 01:18:56,519
Speaker 3: to claim the expenses. But if they insist on sending

1682
01:18:56,560 --> 01:19:00,320
Speaker 3: the children home during school time, no expenses for them.

1683
01:19:00,360 --> 01:19:01,120
Speaker 3: Six twenty five.

1684
01:19:01,880 --> 01:19:04,639
Speaker 2: There's no business like show business.

1685
01:19:06,840 --> 01:19:09,879
Speaker 3: Okay, I've got a question. It's Stranger Things still relevant.

1686
01:19:10,120 --> 01:19:12,080
Speaker 3: Remember that show from twenty sixteen, the kids in the

1687
01:19:12,160 --> 01:19:15,000
Speaker 3: eighties playing dungeons and dragons and fighting monasters. It was cool,

1688
01:19:15,120 --> 01:19:17,719
Speaker 3: wasn't it. Well, I mean, I have to be honest,

1689
01:19:17,720 --> 01:19:19,639
Speaker 3: I didn't get past the first ten seconds because they're

1690
01:19:19,680 --> 01:19:22,240
Speaker 3: running down the corridor and slamming the door. Freaked me out,

1691
01:19:22,280 --> 01:19:23,760
Speaker 3: so I just got out of it. But you know,

1692
01:19:24,040 --> 01:19:25,720
Speaker 3: other people stuck with it and then they watched it

1693
01:19:25,760 --> 01:19:28,240
Speaker 3: and that happened a decade ago. The final season has

1694
01:19:28,360 --> 01:19:30,519
Speaker 3: just landed on Netflix, and it's not the whole season,

1695
01:19:30,600 --> 01:19:33,800
Speaker 3: that's just part one. And apparently people still really care

1696
01:19:33,840 --> 01:19:36,040
Speaker 3: about it because, as I told you earlier, it temporarily

1697
01:19:36,080 --> 01:19:39,479
Speaker 3: crashed the entire Netflix website worldwide. Here's the trailer to

1698
01:19:39,560 --> 01:19:40,280
Speaker 3: jog your memory.

1699
01:19:41,560 --> 01:19:41,920
Speaker 2: Happened.

1700
01:19:41,920 --> 01:19:43,880
Speaker 3: I have no idea what I want.

1701
01:19:47,120 --> 01:19:56,160
Speaker 2: He knows where we are, happen. Time's it.

1702
01:19:57,080 --> 01:19:59,560
Speaker 3: So yeah, he's stressful. So the last season of the

1703
01:19:59,600 --> 01:20:02,120
Speaker 3: show out in twenty twenty two. Here are some things

1704
01:20:02,160 --> 01:20:04,679
Speaker 3: that happened since the last season of Stranger Things. Millie

1705
01:20:04,720 --> 01:20:06,799
Speaker 3: Bobby Brown, who plays the little ball girl with powers,

1706
01:20:06,840 --> 01:20:08,840
Speaker 3: got married and she has a child, so she's a

1707
01:20:08,880 --> 01:20:12,200
Speaker 3: grown up. David Harbor, who plays the hot cop, asked

1708
01:20:12,240 --> 01:20:14,559
Speaker 3: Lily Allen for an open relationship and then they broke up,

1709
01:20:14,560 --> 01:20:16,200
Speaker 3: and then she wrote a whole album about what a

1710
01:20:16,280 --> 01:20:19,800
Speaker 3: Dickie was. Joe Carey, who plays the teen heartthrob Steve,

1711
01:20:19,880 --> 01:20:22,280
Speaker 3: has had an entirely new career as a rock singer,

1712
01:20:22,479 --> 01:20:24,840
Speaker 3: and he played Laneway this year. So what I'm saying

1713
01:20:24,960 --> 01:20:26,280
Speaker 3: is that it has been a little bit of a minute.

1714
01:20:26,640 --> 01:20:28,719
Speaker 3: The first volume of the fifth and the final season

1715
01:20:28,800 --> 01:20:31,040
Speaker 3: of Stranger Things is on Netflix right now. So it'll

1716
01:20:31,080 --> 01:20:33,639
Speaker 3: be there for you when you get home after seven o'clock.

1717
01:20:34,040 --> 01:20:36,160
Speaker 3: And I mean, I'm gonna answer my own question. But

1718
01:20:36,320 --> 01:20:39,280
Speaker 3: the Germans husband as you watched the entire back catalog,

1719
01:20:39,479 --> 01:20:44,599
Speaker 3: has watched the entire back catalog in preparation for this dropping,

1720
01:20:45,160 --> 01:20:50,120
Speaker 3: and it crashed the website worldwide. So yeah, there you go.

1721
01:20:50,360 --> 01:20:54,320
Speaker 3: People love it weird. I don't like the stressful Sam

1722
01:20:54,439 --> 01:20:57,280
Speaker 3: Dicky next on why the AI bubbles have already been

1723
01:20:57,360 --> 01:20:57,840
Speaker 3: popping and.

1724
01:20:57,960 --> 01:21:13,640
Speaker 2: Popped everything from SMEs to the big corporates.

1725
01:21:13,800 --> 01:21:16,479
Speaker 1: The business hour, we've had the duper c Allen and

1726
01:21:16,760 --> 01:21:18,400
Speaker 1: mass motor vehicle insurance.

1727
01:21:18,720 --> 01:21:21,720
Speaker 2: Your futures in good hands, used talks, I'd be.

1728
01:21:23,920 --> 01:21:25,400
Speaker 3: That is coming.

1729
01:21:27,840 --> 01:21:28,000
Speaker 9: Right.

1730
01:21:28,280 --> 01:21:31,080
Speaker 3: Brady's with us out of the UK in about ten minutes.

1731
01:21:31,120 --> 01:21:33,960
Speaker 3: Of course, big budget overnight tax tax, everything that moves

1732
01:21:34,040 --> 01:21:36,280
Speaker 3: is getting taxed. Rachel looked out the window. She's like,

1733
01:21:36,360 --> 01:21:38,880
Speaker 3: true tax tax that tax tax, tax tax, because that's

1734
01:21:38,920 --> 01:21:40,439
Speaker 3: how short she is on it. So that's not going

1735
01:21:40,479 --> 01:21:42,479
Speaker 3: to go down well with the public, is it. Anyway,

1736
01:21:42,520 --> 01:21:43,760
Speaker 3: he can give us his take on it when he's

1737
01:21:43,800 --> 01:21:48,120
Speaker 3: with us shortly. Genuine question for you, genuine question, which

1738
01:21:48,200 --> 01:21:52,520
Speaker 3: do you think is harder to teach toddlers or teenagers.

1739
01:21:52,720 --> 01:21:55,720
Speaker 3: Because Angelo texts me and he said, Heather, you will

1740
01:21:55,800 --> 01:21:58,320
Speaker 3: understand when your children are teenagers why teachers need a

1741
01:21:58,360 --> 01:22:00,400
Speaker 3: mental and physical break in the holidays not to come

1742
01:22:00,439 --> 01:22:04,360
Speaker 3: back and try to do professional development themselves. Which I mean, like, okay, cool,

1743
01:22:04,400 --> 01:22:08,760
Speaker 3: what it like? Lord, I don't think that's going to

1744
01:22:08,800 --> 01:22:11,000
Speaker 3: make the case for the teachers very like anyway, whatever,

1745
01:22:11,720 --> 01:22:15,080
Speaker 3: but quit genuine question because the Kindy teachers. I don't

1746
01:22:15,080 --> 01:22:17,559
Speaker 3: know if you're aware of this, but Kindy teachers operate

1747
01:22:17,640 --> 01:22:20,960
Speaker 3: on exactly the same timetable and schedule as normal as

1748
01:22:21,240 --> 01:22:24,360
Speaker 3: other schools. Right, So when schools go into term time,

1749
01:22:24,479 --> 01:22:26,639
Speaker 3: Kindy's go into term time. When schools go into holiday

1750
01:22:26,640 --> 01:22:29,400
Speaker 3: school holidays, Kindy's go into school holidays. But the Kindy

1751
01:22:29,520 --> 01:22:32,880
Speaker 3: teachers do all their professional development during the holidays, right,

1752
01:22:32,920 --> 01:22:34,960
Speaker 3: So they do. They get a week's leave, then they

1753
01:22:35,040 --> 01:22:36,960
Speaker 3: do a week's worth of professional development in the back

1754
01:22:37,000 --> 01:22:39,240
Speaker 3: of Kindy and it happens like that every school holidays.

1755
01:22:39,400 --> 01:22:42,760
Speaker 3: Now a question for you, is it harder to teach

1756
01:22:42,840 --> 01:22:46,080
Speaker 3: toddlers or teenagers? With the toddlers, you're wiping their bums

1757
01:22:46,120 --> 01:22:48,679
Speaker 3: and you're dealing with irrational stuff and the crying because

1758
01:22:48,760 --> 01:22:51,479
Speaker 3: you know Atlas has told them that adults aren't allowed

1759
01:22:51,520 --> 01:22:53,280
Speaker 3: in that part of the kindy or some stupid thing

1760
01:22:53,400 --> 01:22:55,880
Speaker 3: like that. And they're falling over and they're smashing their

1761
01:22:55,960 --> 01:22:57,800
Speaker 3: faces and they're heading each other, are going crazy.

1762
01:22:57,920 --> 01:22:58,040
Speaker 9: Right?

1763
01:22:58,439 --> 01:23:01,880
Speaker 3: Is that harder? All teenagers harder? Because you can see

1764
01:23:01,920 --> 01:23:03,800
Speaker 3: that the teacher, one set of teachers are working a

1765
01:23:03,840 --> 01:23:05,479
Speaker 3: little harder here than others. Right, So let me know

1766
01:23:05,560 --> 01:23:07,679
Speaker 3: what do you think? Apen nine two nine two teenagers

1767
01:23:07,720 --> 01:23:10,320
Speaker 3: are toddlers twenty three away from seven. Now let's deal

1768
01:23:10,360 --> 01:23:12,479
Speaker 3: with the AI bubble. We have talked a lot about

1769
01:23:12,520 --> 01:23:14,240
Speaker 3: the AI bubble on the show, and in October we

1770
01:23:14,280 --> 01:23:17,519
Speaker 3: talked about the emerging warning signs around the investments and

1771
01:23:17,600 --> 01:23:19,559
Speaker 3: the fears of the bubble. And now analysts are saying

1772
01:23:19,560 --> 01:23:21,000
Speaker 3: we're seeing some of that risk come home to re.

1773
01:23:21,200 --> 01:23:23,080
Speaker 3: Sam Dicky from Fisher Funds is with me on this

1774
01:23:23,160 --> 01:23:24,920
Speaker 3: Hi Sam good evening.

1775
01:23:24,960 --> 01:23:25,080
Speaker 13: Here.

1776
01:23:25,240 --> 01:23:27,320
Speaker 3: Can now Sam remind us of the specific risks so

1777
01:23:27,400 --> 01:23:30,640
Speaker 3: that we were worried about here, Yes, there was a

1778
01:23:30,680 --> 01:23:31,040
Speaker 3: few there.

1779
01:23:31,080 --> 01:23:33,920
Speaker 2: So we were talking last month about three things.

1780
01:23:34,000 --> 01:23:38,080
Speaker 22: So the vendor financing, so sellers of goods leaning money

1781
01:23:38,120 --> 01:23:43,760
Speaker 22: to customers, so supplies like Nvidia AMD leaning billions to

1782
01:23:43,840 --> 01:23:46,919
Speaker 22: customers so they can buy their own products is arguably

1783
01:23:47,680 --> 01:23:50,400
Speaker 22: artificial demand and sort of reminded you and I either

1784
01:23:50,479 --> 01:23:53,599
Speaker 22: of Nortel and Lucent in the late nineties learning money

1785
01:23:53,640 --> 01:23:54,799
Speaker 22: to telcos to buy their equipment.

1786
01:23:54,840 --> 01:23:57,040
Speaker 2: That was number one. Two was just the sheer size

1787
01:23:57,080 --> 01:23:57,519
Speaker 2: of the deal.

1788
01:23:57,760 --> 01:24:01,559
Speaker 22: So we talked about the iPod deal that Oracle did

1789
01:24:02,040 --> 01:24:05,920
Speaker 22: with open ai, whereby open Ai signed a contract to

1790
01:24:05,960 --> 01:24:08,880
Speaker 22: pay Oracle three hundred billion dollars over five years to

1791
01:24:08,960 --> 01:24:11,880
Speaker 22: train and in for instance AI models. But bearing in

1792
01:24:12,000 --> 01:24:15,519
Speaker 22: mind open Ai only had fifteen billion a revenue. And

1793
01:24:15,640 --> 01:24:17,680
Speaker 22: then there was companies like call Weave, a company that

1794
01:24:17,720 --> 01:24:20,880
Speaker 22: buys accelerated compute chips, sticks them in data centers, and

1795
01:24:20,920 --> 01:24:23,120
Speaker 22: re rents them at massive scale what was loss making.

1796
01:24:23,439 --> 01:24:25,479
Speaker 22: And the final thing we talked about was the yawning

1797
01:24:25,600 --> 01:24:29,040
Speaker 22: gap between the valuations of these companies were trading at

1798
01:24:29,200 --> 01:24:31,960
Speaker 22: and the on the ground reality of AI use cases.

1799
01:24:32,040 --> 01:24:33,439
Speaker 22: So there was sort of four or five risks we

1800
01:24:33,520 --> 01:24:34,640
Speaker 22: were discussing.

1801
01:24:34,760 --> 01:24:36,080
Speaker 3: And where are we at today?

1802
01:24:36,160 --> 01:24:38,920
Speaker 22: Do you think, well, I think there's good news that

1803
01:24:38,920 --> 01:24:42,439
Speaker 22: we've had a healthy dose of reality in the last

1804
01:24:42,560 --> 01:24:44,800
Speaker 22: sort of two or three weeks and give you a

1805
01:24:44,840 --> 01:24:48,200
Speaker 22: few numbers there the basket of AI winners. So that's

1806
01:24:48,200 --> 01:24:50,880
Speaker 22: a couple of handfuls of AI winners in the US

1807
01:24:51,760 --> 01:24:53,880
Speaker 22: that we track. They've already fallen sort of fifteen to

1808
01:24:53,960 --> 01:24:57,679
Speaker 22: twenty percent. But the riskier stuff like Oracle, like core

1809
01:24:57,800 --> 01:25:00,920
Speaker 22: Weave is already down sort of forty fifty percent since

1810
01:25:00,920 --> 01:25:04,320
Speaker 22: you and I last spoke about this either and in

1811
01:25:04,439 --> 01:25:07,320
Speaker 22: particular around those two companies. Investors that are buying the

1812
01:25:07,479 --> 01:25:09,960
Speaker 22: debt of these companies because it's not all equity funded,

1813
01:25:10,000 --> 01:25:12,120
Speaker 22: these companies in a lot of debt to fund this,

1814
01:25:12,240 --> 01:25:15,439
Speaker 22: they started requiring a higher return on their money given

1815
01:25:15,479 --> 01:25:17,840
Speaker 22: the risk of it's building, given those risks we talked about,

1816
01:25:18,080 --> 01:25:20,439
Speaker 22: so it's more expensive for those companies to raise money. So,

1817
01:25:20,600 --> 01:25:23,280
Speaker 22: generally speaking, people are still excited about AI, but they're

1818
01:25:23,280 --> 01:25:24,839
Speaker 22: becoming a little bit more discerning.

1819
01:25:25,360 --> 01:25:26,960
Speaker 3: And so where do you think we go to from here?

1820
01:25:28,160 --> 01:25:30,479
Speaker 22: I think the technology still has years to run hard

1821
01:25:30,560 --> 01:25:32,679
Speaker 22: to not be quite bullish on the ability of AI

1822
01:25:32,840 --> 01:25:36,360
Speaker 22: to drive productivity growth. But every time we see this

1823
01:25:36,479 --> 01:25:39,839
Speaker 22: with a game changing technology, it does attract these pockets

1824
01:25:39,880 --> 01:25:42,360
Speaker 22: of animal spirits and hypes. So I think we'll go

1825
01:25:42,439 --> 01:25:44,360
Speaker 22: through this sort of hype cycle a few more times.

1826
01:25:44,439 --> 01:25:47,400
Speaker 3: Yet, what do you reckon this means for investors, Sam,

1827
01:25:48,520 --> 01:25:49,080
Speaker 3: I think it's.

1828
01:25:49,040 --> 01:25:51,200
Speaker 22: Really good to see these healthy corrections. I think it

1829
01:25:51,280 --> 01:25:53,920
Speaker 22: means that people are becoming more discerning. It's not just

1830
01:25:54,040 --> 01:25:56,560
Speaker 22: anything with AI and the title you buy it. I

1831
01:25:56,640 --> 01:25:59,559
Speaker 22: think debt investors in particular, but in particular it always

1832
01:25:59,600 --> 01:26:02,599
Speaker 22: help equity investors on us. So I think we've got

1833
01:26:02,680 --> 01:26:05,360
Speaker 22: some good risk pricing stepping into the sector. So that's

1834
01:26:05,400 --> 01:26:08,360
Speaker 22: really good news for sort of longer term discerning investors.

1835
01:26:08,680 --> 01:26:10,439
Speaker 3: Sam, Good to talk to you as always, Mate, Talk

1836
01:26:10,439 --> 01:26:12,559
Speaker 3: to you soon. Sam Dickie Fisher Funds twenty Away from

1837
01:26:12,600 --> 01:26:15,960
Speaker 3: seven Heather Doper see Allen Heather. Teenager is not an

1838
01:26:16,000 --> 01:26:20,360
Speaker 3: argument toddlers are easier, Heatherhather. I have four teenagers. Toddlers

1839
01:26:20,360 --> 01:26:23,760
Speaker 3: are harder, Hea, the teenagers, Hea, the toddlers here the

1840
01:26:23,880 --> 01:26:26,160
Speaker 3: definitely secondary school teachers of a harder time. The others

1841
01:26:26,200 --> 01:26:32,000
Speaker 3: have glorified Babysittersen. You know that ain't true. Yep, it's divided.

1842
01:26:32,160 --> 01:26:34,200
Speaker 3: It's I think it's a personality thing, don't you do

1843
01:26:34,240 --> 01:26:36,519
Speaker 3: You think it's a personalitything, Like I think some parents

1844
01:26:36,600 --> 01:26:40,080
Speaker 3: find teenagers harder and some parents find Toddler's harder. But

1845
01:26:40,160 --> 01:26:42,640
Speaker 3: I'll tell you what I reckon. I reckon teenagers have

1846
01:26:42,720 --> 01:26:44,920
Speaker 3: got to be easier to teach than Toddler's because I mean,

1847
01:26:45,280 --> 01:26:47,760
Speaker 3: like you've got the nonverbal stuff right, they can't talk

1848
01:26:47,840 --> 01:26:51,160
Speaker 3: some of the time, and they're poping themselves. The teenagers

1849
01:26:51,160 --> 01:26:53,400
Speaker 3: don't do that. And all I want to say is,

1850
01:26:53,640 --> 01:26:56,000
Speaker 3: I just want to say maybe maybe more teachers could

1851
01:26:56,000 --> 01:26:57,840
Speaker 3: be a little bit more like the Candy teachers and

1852
01:26:58,040 --> 01:27:01,000
Speaker 3: just work, work the full hours, like that center open,

1853
01:27:01,439 --> 01:27:03,280
Speaker 3: get the teenagers in there, teach them, and then you

1854
01:27:03,360 --> 01:27:06,519
Speaker 3: take your PD to personal development during professional development during

1855
01:27:06,520 --> 01:27:09,160
Speaker 3: the holidays. Now, I don't know if you've been following

1856
01:27:09,240 --> 01:27:12,920
Speaker 3: this business with Campbell's, the soup makers globally, but the

1857
01:27:13,000 --> 01:27:16,639
Speaker 3: guy has gone. He has quote left to the company,

1858
01:27:16,840 --> 01:27:18,360
Speaker 3: but I think we all know that that means that

1859
01:27:18,439 --> 01:27:20,960
Speaker 3: he was fired. Now, if you haven't followed this, this

1860
01:27:21,040 --> 01:27:24,160
Speaker 3: has been the most outrageous thing. What is Chap's name

1861
01:27:24,200 --> 01:27:28,280
Speaker 3: is Martin Bally. And what happened was another employee went

1862
01:27:28,400 --> 01:27:31,200
Speaker 3: to have I don't really there was some internal dispute

1863
01:27:31,200 --> 01:27:33,760
Speaker 3: and the guy got stood down. The employee X got

1864
01:27:33,840 --> 01:27:36,000
Speaker 3: stood down. Well, he wasn't going to take it, and

1865
01:27:36,080 --> 01:27:38,160
Speaker 3: so he filed a suit about it, and in the

1866
01:27:38,280 --> 01:27:41,080
Speaker 3: suit he had rocked up with a recording of Martin Bally,

1867
01:27:41,320 --> 01:27:43,800
Speaker 3: And what Martin says in this recording is that Campbell's

1868
01:27:43,920 --> 01:27:46,679
Speaker 3: is highly processed food and it was for poor people.

1869
01:27:47,000 --> 01:27:48,840
Speaker 3: And then he called the Indian workers who do a

1870
01:27:48,880 --> 01:27:51,040
Speaker 3: lot of the work idiots. And then he told the

1871
01:27:51,160 --> 01:27:54,000
Speaker 3: chap apparently allegedly that he often goes to work high

1872
01:27:54,080 --> 01:27:56,800
Speaker 3: after consuming marijuana edibles, which I think, given what he'd

1873
01:27:56,800 --> 01:28:00,639
Speaker 3: already said, that's an entirely plausible situation. Anyway, he's gone,

1874
01:28:01,000 --> 01:28:02,720
Speaker 3: and I don't think anybody's going to look at that

1875
01:28:02,800 --> 01:28:07,720
Speaker 3: and go, oh, Campbell's hmm, line callmate, line call. I

1876
01:28:07,920 --> 01:28:09,400
Speaker 3: think so I think we looked at that and went,

1877
01:28:10,680 --> 01:28:12,439
Speaker 3: good thing that that guy's gone, and good luck to

1878
01:28:12,520 --> 01:28:14,560
Speaker 3: him trying to find another job. Now, I'll tell you

1879
01:28:14,640 --> 01:28:17,000
Speaker 3: what I thought was interested. I've been I am interested,

1880
01:28:17,560 --> 01:28:20,880
Speaker 3: as you could tell by the tet a tet that

1881
01:28:20,960 --> 01:28:23,240
Speaker 3: we had with Simon Watts on the show Yesterda. I'm

1882
01:28:23,320 --> 01:28:27,599
Speaker 3: slightly obsessively fascinated by climate change and the politics around him.

1883
01:28:28,120 --> 01:28:31,040
Speaker 3: So I was quite interested to open stuff today and

1884
01:28:31,160 --> 01:28:33,599
Speaker 3: read that they had an article saying that New Zealand's

1885
01:28:33,640 --> 01:28:36,519
Speaker 3: trading partners have taken notice of the fact that we

1886
01:28:36,640 --> 01:28:38,519
Speaker 3: our government is apparently doing what they're calling like a

1887
01:28:38,560 --> 01:28:41,400
Speaker 3: back down in climate policy and they are planning to

1888
01:28:41,600 --> 01:28:43,800
Speaker 3: raise direct concerns with the government about it, or they

1889
01:28:43,840 --> 01:28:46,720
Speaker 3: already have and they pointed up they name checked a

1890
01:28:46,760 --> 01:28:49,519
Speaker 3: bunch of different trading partners, but in particular the UK

1891
01:28:49,840 --> 01:28:53,200
Speaker 3: was the one that amused me the most. Twice this year,

1892
01:28:53,600 --> 01:28:56,759
Speaker 3: reports stuff UK ministers have said that they have raised

1893
01:28:56,800 --> 01:29:01,360
Speaker 3: concerns about New Zealand's climate commitment into tackling climate change,

1894
01:29:01,720 --> 01:29:04,960
Speaker 3: and specifically with regards to the oil and gas exploration

1895
01:29:05,040 --> 01:29:07,040
Speaker 3: that we're trying to get back into. The British High

1896
01:29:07,040 --> 01:29:10,360
Speaker 3: Commission in Wellington was closely monitoring this issue. Now, why

1897
01:29:10,479 --> 01:29:12,920
Speaker 3: I have found this particularly amusing is because allow me

1898
01:29:13,040 --> 01:29:15,519
Speaker 3: to so, what they're upset about is the fact that

1899
01:29:15,600 --> 01:29:17,519
Speaker 3: we want to go in and draw for more oil

1900
01:29:17,520 --> 01:29:20,240
Speaker 3: and gas. Let me read you a BBC story from overnight.

1901
01:29:21,160 --> 01:29:23,599
Speaker 3: More north Sea drilling to be allowed a new labor

1902
01:29:23,640 --> 01:29:26,760
Speaker 3: plan Plans to relax restrictions on new oil and gas

1903
01:29:26,880 --> 01:29:29,120
Speaker 3: drilling in the North Sea will be unveiled on Wednesday

1904
01:29:29,200 --> 01:29:32,639
Speaker 3: under the government's North Sea strategy. Chancellor Rachel Leaves will

1905
01:29:32,640 --> 01:29:34,880
Speaker 3: announce the publication of the strategy and the budget blah

1906
01:29:34,880 --> 01:29:38,000
Speaker 3: blah blah whatever. So we're led to believe if you

1907
01:29:38,280 --> 01:29:40,760
Speaker 3: make stuff, do a bit of research, mate. So we

1908
01:29:40,840 --> 01:29:43,200
Speaker 3: are led to believe that the UK is going to

1909
01:29:43,240 --> 01:29:45,040
Speaker 3: give us a big old telling off because we want

1910
01:29:45,080 --> 01:29:47,000
Speaker 3: to go in for oil and gas exploration. When they

1911
01:29:47,000 --> 01:29:48,960
Speaker 3: are about to announce or have announced that they are

1912
01:29:49,000 --> 01:29:51,439
Speaker 3: going to go in for oil and gas exploration. Yeah,

1913
01:29:51,800 --> 01:29:54,479
Speaker 3: good luck with that, British High Commission. Sixteen away from seven.

1914
01:29:55,240 --> 01:29:58,680
Speaker 1: Ever's to do with money? It matters to you. The

1915
01:29:58,960 --> 01:30:02,120
Speaker 1: Business Hour with the head of Duplicy Allen and Ma's

1916
01:30:02,200 --> 01:30:06,439
Speaker 1: motor vehicle Insurance. Your futures in good heads us talks.

1917
01:30:06,479 --> 01:30:08,760
Speaker 3: It'd be here the some teenage males go through a

1918
01:30:08,840 --> 01:30:11,479
Speaker 3: grunt stage which is almost back to non verbal. Actually

1919
01:30:11,760 --> 01:30:13,960
Speaker 3: that's a good point, thank you. Thirteen away from seven

1920
01:30:14,040 --> 01:30:17,599
Speaker 3: into Brady UK correspondence with me. Hello, Winda, hey, Heather,

1921
01:30:17,720 --> 01:30:20,439
Speaker 3: how are you all right? So tell me what you

1922
01:30:20,520 --> 01:30:21,280
Speaker 3: think of the budget?

1923
01:30:22,560 --> 01:30:25,360
Speaker 8: Well, if you believe the papers and their calculations and

1924
01:30:25,400 --> 01:30:28,040
Speaker 8: all the experts were all a lot less well off

1925
01:30:28,120 --> 01:30:30,599
Speaker 8: than we were twenty four hours ago. And I think

1926
01:30:30,840 --> 01:30:34,360
Speaker 8: looking long term, some people's pension pots could be down

1927
01:30:34,520 --> 01:30:38,320
Speaker 8: as much as one hundred thousand dollars higher earners towards

1928
01:30:38,400 --> 01:30:41,599
Speaker 8: the end of their careers. This is a very kind

1929
01:30:41,680 --> 01:30:46,920
Speaker 8: of clever, stealthy way of taking money from people without

1930
01:30:46,960 --> 01:30:50,839
Speaker 8: them really realizing it. So Rachel Reeves at the Chancellor,

1931
01:30:50,920 --> 01:30:53,519
Speaker 8: she has gone after pensions, she's gone after workers, she's

1932
01:30:53,560 --> 01:30:57,160
Speaker 8: gone after savers. They've even put a tax on milkshakes.

1933
01:30:57,200 --> 01:30:59,760
Speaker 8: Would you believe there's nothing they haven't axed this time?

1934
01:31:00,200 --> 01:31:02,080
Speaker 3: So how do you justify a text on milkshakes? What

1935
01:31:02,200 --> 01:31:03,280
Speaker 3: is it a milkshake tax?

1936
01:31:04,960 --> 01:31:08,000
Speaker 8: There's sugar in milkshakes. And they've also put a tax

1937
01:31:08,080 --> 01:31:10,639
Speaker 8: on those, you know, those canned lattes that you see

1938
01:31:10,640 --> 01:31:13,560
Speaker 8: in petrol station service stations. They've put a tax on

1939
01:31:13,680 --> 01:31:16,120
Speaker 8: those as well. So they've gotten under the sugar tax.

1940
01:31:16,520 --> 01:31:18,960
Speaker 8: So what will happen is the manufacturers will go away.

1941
01:31:19,280 --> 01:31:22,599
Speaker 8: They'll come up with a different recipe, probably even less

1942
01:31:22,680 --> 01:31:26,519
Speaker 8: healthy for consumers. But they've I don't know, they inherited

1943
01:31:26,560 --> 01:31:29,439
Speaker 8: a complete mess. And one line that Reeves came out

1944
01:31:29,479 --> 01:31:31,679
Speaker 8: with yesterday when she was speaking was that she said

1945
01:31:31,960 --> 01:31:34,080
Speaker 8: this is not about the last fourteen months of us,

1946
01:31:34,400 --> 01:31:37,400
Speaker 8: It's about fixing the last fourteen years of them, and

1947
01:31:37,479 --> 01:31:40,559
Speaker 8: she pointed at the Conservatives. But the public aren't interested.

1948
01:31:40,920 --> 01:31:44,920
Speaker 8: I think Christmas coming, we're in winter now, energy bills rocketing.

1949
01:31:45,280 --> 01:31:47,639
Speaker 8: People care about how much cash or how little cash

1950
01:31:47,720 --> 01:31:49,600
Speaker 8: they have left at the end of the month. And

1951
01:31:50,000 --> 01:31:52,519
Speaker 8: I just can't see Starmer turning this around now.

1952
01:31:52,920 --> 01:31:56,559
Speaker 3: Okay, so she says, she says that energy bills are

1953
01:31:56,560 --> 01:31:58,360
Speaker 3: going to fall in something like one hundred and fifty

1954
01:31:58,400 --> 01:32:00,760
Speaker 3: pounds on average over a year, so there is some

1955
01:32:00,920 --> 01:32:03,599
Speaker 3: sweetener in there for the public. Unbalance, does the public

1956
01:32:03,800 --> 01:32:05,439
Speaker 3: like what it sees or hate what it sees?

1957
01:32:06,360 --> 01:32:09,120
Speaker 8: I think the public absolutely hates what it's seeing from

1958
01:32:09,240 --> 01:32:12,160
Speaker 8: labor right now. And yes, she's saying that come April

1959
01:32:12,280 --> 01:32:15,840
Speaker 8: next year, they're going to put in place mechanisms where

1960
01:32:16,040 --> 01:32:18,920
Speaker 8: energy builds will fall. Well, come April, the weather gets

1961
01:32:18,960 --> 01:32:21,600
Speaker 8: better and people won't be using as much energy. So

1962
01:32:21,840 --> 01:32:24,760
Speaker 8: why can't they do it now? I just the thing

1963
01:32:24,880 --> 01:32:26,759
Speaker 8: that really kind of sticks with me is an awful

1964
01:32:26,760 --> 01:32:30,519
Speaker 8: lot of money seems to be earmarked for welfare payments

1965
01:32:30,640 --> 01:32:32,559
Speaker 8: and benefits. I think it's a great budget if you're

1966
01:32:32,560 --> 01:32:35,280
Speaker 8: on benefits and you don't do any work, but they're

1967
01:32:35,479 --> 01:32:40,280
Speaker 8: clobboring working families and traditionally working families vote labor, so

1968
01:32:40,439 --> 01:32:41,760
Speaker 8: you can join the dots up the way.

1969
01:32:41,800 --> 01:32:42,479
Speaker 2: This is going to go.

1970
01:32:42,760 --> 01:32:44,280
Speaker 3: Okay, So how does it go for Keirstama.

1971
01:32:46,320 --> 01:32:48,680
Speaker 8: I think he's got until these elections in May. There

1972
01:32:48,760 --> 01:32:51,880
Speaker 8: are national elections in Scotland and Wales in May, and

1973
01:32:51,960 --> 01:32:55,120
Speaker 8: then local elections across England as well. And if you

1974
01:32:55,240 --> 01:32:57,920
Speaker 8: look at the polling, I mean Reformer hitting twenty six

1975
01:32:58,439 --> 01:33:01,559
Speaker 8: thirty percent in some places Labor are limping along at

1976
01:33:01,640 --> 01:33:05,439
Speaker 8: sixteen the Green Party now snapping at Labour's hills on

1977
01:33:05,600 --> 01:33:08,800
Speaker 8: fifteen percent, and nobody votes Green here, say for a

1978
01:33:08,840 --> 01:33:12,600
Speaker 8: few constituencies. So his polling is absolutely shocking. And I

1979
01:33:12,640 --> 01:33:14,840
Speaker 8: think all of the chatter of the last two weeks

1980
01:33:14,880 --> 01:33:17,719
Speaker 8: about Wes streeting the Health Secretary, lining up his ducks

1981
01:33:17,760 --> 01:33:20,120
Speaker 8: and wanting to be the next leader and Prime minister,

1982
01:33:21,240 --> 01:33:23,920
Speaker 8: there's something in that clearly. But I think Starmer's into

1983
01:33:23,960 --> 01:33:24,840
Speaker 8: the last six months.

1984
01:33:25,479 --> 01:33:28,280
Speaker 3: Wow, okay, And what is this tourist text in Cornwall

1985
01:33:28,360 --> 01:33:31,439
Speaker 3: and Devin like so this is away.

1986
01:33:31,240 --> 01:33:33,280
Speaker 8: From the budget. This is something that they're going to

1987
01:33:33,400 --> 01:33:36,559
Speaker 8: give regional mayors the power to do in their areas,

1988
01:33:36,600 --> 01:33:38,960
Speaker 8: and Devon and Cornwall seem quite keen on us. So

1989
01:33:39,040 --> 01:33:41,519
Speaker 8: anyone who's traveled in Europe in the last couple of years,

1990
01:33:41,640 --> 01:33:43,680
Speaker 8: you pay your bills up front, and when you check

1991
01:33:43,680 --> 01:33:46,840
Speaker 8: out the hotel suddenly the guy or lady on reception

1992
01:33:46,920 --> 01:33:48,840
Speaker 8: will say to you, oh, there's the tourist tax. We

1993
01:33:48,920 --> 01:33:51,160
Speaker 8: need to settle up. And yeah, it's only about four

1994
01:33:51,240 --> 01:33:54,080
Speaker 8: dollars a night in some cities. And I've had this

1995
01:33:54,160 --> 01:33:56,680
Speaker 8: happen to me in Italy, France and the Netherlands in

1996
01:33:56,720 --> 01:33:59,519
Speaker 8: the last few years, and you're like, oh, okay, and

1997
01:33:59,680 --> 01:34:02,000
Speaker 8: then when you realize, hang on, I've been here a week,

1998
01:34:02,400 --> 01:34:04,880
Speaker 8: We've got the kids with us. Whoa okay, So there's

1999
01:34:04,880 --> 01:34:09,160
Speaker 8: not much change out of you know, a lot of dollars. Basically,

2000
01:34:09,280 --> 01:34:12,800
Speaker 8: they're stealing the idea from some European cities whereby they

2001
01:34:12,840 --> 01:34:15,240
Speaker 8: will bang in this extra maybe four or five dollars

2002
01:34:15,280 --> 01:34:18,240
Speaker 8: an I tourus tax per person, and then the local

2003
01:34:18,320 --> 01:34:21,360
Speaker 8: regional authority will be able to spend that on services

2004
01:34:21,520 --> 01:34:24,559
Speaker 8: in places like Devon and Cornwall, So it's yet another

2005
01:34:24,960 --> 01:34:28,519
Speaker 8: stealth tax, and because it's so small, most people don't

2006
01:34:28,600 --> 01:34:31,559
Speaker 8: question that anytime I have questioned it in Europe, they

2007
01:34:31,760 --> 01:34:34,560
Speaker 8: blame the local mayor and that's exactly what's going to

2008
01:34:34,600 --> 01:34:35,040
Speaker 8: happen here.

2009
01:34:35,160 --> 01:34:37,519
Speaker 3: Ah yeah, okay, Inda, thank you very much, really appreciate

2010
01:34:37,560 --> 01:34:42,080
Speaker 3: your time. Mate, that's into Brady UK corresponds. Look, today

2011
01:34:42,240 --> 01:34:44,439
Speaker 3: is Thursday, the twenty seventh of November, which means, of

2012
01:34:44,479 --> 01:34:47,640
Speaker 3: course that it's two years since the government was sworn in.

2013
01:34:48,360 --> 01:34:50,280
Speaker 3: And what did the government say they would do in

2014
01:34:50,320 --> 01:34:52,200
Speaker 3: the first two years They would get us five hundred

2015
01:34:52,240 --> 01:34:54,519
Speaker 3: new cops and so what does that mean They've missed

2016
01:34:54,520 --> 01:34:57,040
Speaker 3: the target because today is the two year mark that

2017
01:34:57,120 --> 01:34:59,320
Speaker 3: they said they'll do it by. Now what that means

2018
01:34:59,439 --> 01:35:01,040
Speaker 3: I don't really care about that because I knew that

2019
01:35:01,120 --> 01:35:02,920
Speaker 3: this was going to happen, because you knew this was

2020
01:35:02,960 --> 01:35:05,400
Speaker 3: going to happen, because Mark Mitchell said it in January

2021
01:35:05,560 --> 01:35:07,920
Speaker 3: last year, didn't he? What this means is Mark Mitchell

2022
01:35:08,040 --> 01:35:10,280
Speaker 3: was right all along? But remember what happened. Can I

2023
01:35:10,360 --> 01:35:12,680
Speaker 3: remind you what happened in January twenty twenty four when

2024
01:35:12,680 --> 01:35:15,680
Speaker 3: he said it? When he p got upset and then

2025
01:35:15,800 --> 01:35:18,240
Speaker 3: Mitch had to stop saying it, and then did he

2026
01:35:18,320 --> 01:35:20,640
Speaker 3: have to correct the record or something like that in

2027
01:35:20,680 --> 01:35:22,520
Speaker 3: part of it was it looks such a giant kerfuffle

2028
01:35:22,880 --> 01:35:25,120
Speaker 3: when Mitch had said the thing that was true, when

2029
01:35:25,160 --> 01:35:26,880
Speaker 3: he didn't like that he said that thing was true,

2030
01:35:26,920 --> 01:35:28,280
Speaker 3: so he had to go back and then change the

2031
01:35:28,320 --> 01:35:30,000
Speaker 3: thing that was true and make them and then say

2032
01:35:30,040 --> 01:35:33,040
Speaker 3: the thing that was not true. So what I want

2033
01:35:33,120 --> 01:35:35,679
Speaker 3: to say about this is, next time Mark Mitchell says

2034
01:35:35,760 --> 01:35:39,360
Speaker 3: something and it seems like it's true, it probably is.

2035
01:35:39,920 --> 01:35:43,080
Speaker 3: And when Winston makes them change it, it's not true anymore.

2036
01:35:43,160 --> 01:35:44,960
Speaker 3: And can I just say shout out to Mark Mitchell

2037
01:35:45,200 --> 01:35:47,000
Speaker 3: for actually saying the true thing at the start, because

2038
01:35:47,000 --> 01:35:50,720
Speaker 3: I really appreciated that. Eight away from seven, it's the.

2039
01:35:50,800 --> 01:35:54,840
Speaker 1: Heather Tiop see Alan Drive Full Show podcast on iHeartRadio

2040
01:35:55,080 --> 01:35:57,800
Speaker 1: powered by newstalg zby Heather.

2041
01:35:57,960 --> 01:36:00,400
Speaker 3: Is this true? Andrew Little spent thirty four one thousand

2042
01:36:00,400 --> 01:36:02,679
Speaker 3: dollars on his welcoming mirroral party. Sounds like he hasn't

2043
01:36:02,760 --> 01:36:06,160
Speaker 3: changed his spots much. Yeah, it was. I can't remember

2044
01:36:06,200 --> 01:36:07,880
Speaker 3: exactly how much it was, but it was an extraordinary

2045
01:36:07,920 --> 01:36:09,519
Speaker 3: amount of money and it was much much more than

2046
01:36:09,520 --> 01:36:11,360
Speaker 3: they did up the road at Portadour. But that's because

2047
01:36:11,400 --> 01:36:13,280
Speaker 3: portdur knows how to cut its cloth, and there's a

2048
01:36:13,360 --> 01:36:15,280
Speaker 3: run they just that they don't have a you know,

2049
01:36:15,680 --> 01:36:18,160
Speaker 3: a larger sort of attitude, do they? And yeah, I

2050
01:36:18,240 --> 01:36:20,760
Speaker 3: did read that and think, oh, Andrew, you're so much

2051
01:36:20,800 --> 01:36:22,920
Speaker 3: better than Tory, and yet in this instance you've just

2052
01:36:23,000 --> 01:36:26,360
Speaker 3: repeated Tory's mistake. I've got an update on Sam. The

2053
01:36:26,439 --> 01:36:31,920
Speaker 3: producer's family no longer being flown by in New Zealand

2054
01:36:31,960 --> 01:36:34,519
Speaker 3: to Auckland forster overnight in Auckland and then to fly

2055
01:36:34,640 --> 01:36:36,479
Speaker 3: down to Wellington, but are now going to be put

2056
01:36:36,560 --> 01:36:38,680
Speaker 3: up in a hotel in Melbourne and then flown to

2057
01:36:38,760 --> 01:36:41,240
Speaker 3: Wellington tomorrow, which makes the whole situation a whole lot better.

2058
01:36:41,280 --> 01:36:43,160
Speaker 3: And presumably they get their luggage. They had to carp

2059
01:36:43,200 --> 01:36:45,800
Speaker 3: about it apparently in order to get it. But you know,

2060
01:36:46,000 --> 01:36:47,120
Speaker 3: common sense has prevailed.

2061
01:36:47,840 --> 01:36:48,040
Speaker 10: Sam.

2062
01:36:48,080 --> 01:36:50,040
Speaker 15: He was looking forward to seeing his nieces that yeah.

2063
01:36:50,320 --> 01:36:51,320
Speaker 3: Yeah, yeah, it's a shame.

2064
01:36:51,840 --> 01:36:52,439
Speaker 10: I yeah.

2065
01:36:52,520 --> 01:36:55,160
Speaker 3: Anyway, did you know that chocolate fish ants go all

2066
01:36:55,200 --> 01:36:57,200
Speaker 3: the way back to the eighteen eighties in this country?

2067
01:36:57,280 --> 01:36:57,800
Speaker 15: I didn't know that.

2068
01:36:58,040 --> 01:36:59,760
Speaker 3: Yeah, so the spin off has done, because this is

2069
01:36:59,800 --> 01:37:01,519
Speaker 3: the one thing the spin off spends its timer. But

2070
01:37:01,560 --> 01:37:03,599
Speaker 3: I do appreciate the frivolous stuff from them, from time

2071
01:37:03,640 --> 01:37:06,040
Speaker 3: to time. There was a chap called Richard Hudson who

2072
01:37:06,080 --> 01:37:08,160
Speaker 3: was born in Britain, as everybody was back in the

2073
01:37:08,200 --> 01:37:11,320
Speaker 3: eighteen eighties. He made biscuit and cakes and Dunedin. Then

2074
01:37:11,360 --> 01:37:14,679
Speaker 3: he expanded his factory to chocolate in eighteen eighty four

2075
01:37:15,000 --> 01:37:17,560
Speaker 3: and they found molds. They don't know exactly when he

2076
01:37:17,600 --> 01:37:19,640
Speaker 3: got into it, but they found molds of chocolate, lot

2077
01:37:19,680 --> 01:37:22,000
Speaker 3: of fish in his factory when they went through and

2078
01:37:22,200 --> 01:37:23,960
Speaker 3: you know, dug up stuff and I think you know

2079
01:37:24,000 --> 01:37:26,280
Speaker 3: about five years ago thereabouts, and so he may have

2080
01:37:26,360 --> 01:37:28,360
Speaker 3: been the first one to be making chocolate fish all

2081
01:37:28,400 --> 01:37:30,599
Speaker 3: the way back in the eighteen eighties. So every time

2082
01:37:30,680 --> 01:37:32,680
Speaker 3: ant you hand out chocolate fish like you do in

2083
01:37:32,760 --> 01:37:35,120
Speaker 3: this place, it's like a kei we tradition.

2084
01:37:35,240 --> 01:37:37,120
Speaker 15: Yeah, what a hero that guys. We should the Reserve

2085
01:37:37,120 --> 01:37:38,600
Speaker 15: Bank should make a two hundred dollar note just so

2086
01:37:38,640 --> 01:37:41,320
Speaker 15: that we can put him on it. Running running up

2087
01:37:41,320 --> 01:37:43,479
Speaker 15: that Hill by Kate Bush to play us out tonight.

2088
01:37:43,520 --> 01:37:45,519
Speaker 15: This is another producer Sam story. Actually he wanted us

2089
01:37:45,560 --> 01:37:47,599
Speaker 15: to play this when you talked about Stranger Things earlier,

2090
01:37:47,640 --> 01:37:49,000
Speaker 15: and I talked him out of it. I was like, no, no, no,

2091
01:37:49,160 --> 01:37:50,560
Speaker 15: hang on, we got to do the theme song. This

2092
01:37:50,720 --> 01:37:53,599
Speaker 15: song was from Stranger Things season four. We're talking about

2093
01:37:53,600 --> 01:37:56,320
Speaker 15: season five. We got to look ahead and Sam was like, banance,

2094
01:37:56,560 --> 01:37:58,320
Speaker 15: it's a banger, and I mean, he's right about that,

2095
01:37:58,400 --> 01:37:59,639
Speaker 15: so let's finish with the banger running.

2096
01:38:00,000 --> 01:38:02,160
Speaker 3: This is why Running Up the Hell from the nineteen

2097
01:38:02,200 --> 01:38:05,080
Speaker 3: eighties went back up the charts in the last five I.

2098
01:38:05,080 --> 01:38:07,120
Speaker 15: Think it got its own single CD release for the

2099
01:38:07,160 --> 01:38:08,160
Speaker 15: first time ever as well.

2100
01:38:08,200 --> 01:38:09,880
Speaker 3: Just because of that, the young people found out that

2101
01:38:09,920 --> 01:38:12,519
Speaker 3: there was music that predated them that was actually quite good,

2102
01:38:12,560 --> 01:38:14,880
Speaker 3: even if it was made by weirdos like Kate Bush. Anyway,

2103
01:38:14,920 --> 01:38:15,880
Speaker 3: Thanks ant Seed tomorrow

2104
01:38:42,520 --> 01:38:45,640
Speaker 1: For more from Hither duplessy Alan Drive listen live to

2105
01:38:45,760 --> 01:38:48,800
Speaker 1: news Talks it'd be from four pm weekdays, or follow

2106
01:38:48,840 --> 01:38:50,600
Speaker 1: the podcast on iHeartRadio.