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Speaker 1: The OCRs dropped fifty points or a two and a

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Speaker 1: half percent full consensus with the Monetary Policy Committee, and

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Speaker 1: we may get another quarter hit before Christmas. Labour's finance

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Speaker 1: spokesperson Barbara Edmonds says the bank's taking a risk.

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Speaker 2: My concern is around the inflation, particularly being sticky, as

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Speaker 2: it might come down next year, but those administered costs

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Speaker 2: that we are seeing are quite a concern for me.

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Speaker 1: She's with me now. Good morning, Good morning, Ryan. Good

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Speaker 1: to have you on the show. As always, did they

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Speaker 1: make the wrong call?

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Speaker 2: I think they made the right call given the data

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Speaker 2: that they've got before them, and even in their media

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Speaker 2: statement they did talk about those inflationary risks, but ultimately

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Speaker 2: right now they believe they're a spare capacity in the economy,

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Speaker 2: which is why they had to cut interest rates. Have

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Speaker 2: indicated a potential service put and to me it's a

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Speaker 2: direct response to the economic damage caused by Christopher Luxem.

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Speaker 1: You're talking about the inflation problem, domestic inflation. Council rates

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Speaker 1: always a big one. Are you going to support a

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Speaker 1: rates cap? You know, what are you going to do

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Speaker 1: to keep that down? If inflation is such.

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Speaker 2: A worry for you, we can to see where the

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Speaker 2: government gets to with their work on that, and we

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Speaker 2: want to see the detail. If it's a good policy proposal,

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Speaker 2: we know that it will help bring rates down, we

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Speaker 2: will provide the support where we need to.

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Speaker 1: What does a good proposal look like.

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Speaker 2: And again they've got a group working on that. We

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Speaker 2: want to see what that looks like. And you do

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Speaker 2: need the detail about that because obviously any policy detail

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Speaker 2: may have other consequences. So we really hope the governments

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Speaker 2: when they do come up with a response to it,

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Speaker 2: that it be something that we can support because we

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Speaker 2: know that ratepayers are hurting.

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Speaker 1: If they say, look, we want to elect capita inflation,

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Speaker 1: would you be on board with that?

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Speaker 2: And it depends on then how the councils are going

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Speaker 2: to be supported to pay for the infrastructure that they need.

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Speaker 2: So there are pros and cons to that, because councils

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Speaker 2: obviously need money for historical water infrastructure that hasn't been

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Speaker 2: kept up to date. So again we're open to apporting

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Speaker 2: the government, but we need to see the detail and

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Speaker 2: we do look forward to that.

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Speaker 1: You've said this is down to National's economic mismanagement and

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Speaker 1: its talent and hand basket stuff. When labor left office

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Speaker 1: in fation was six to seven percent, the ocr was

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Speaker 1: five and.

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Speaker 2: A half, and we were coming off the back held

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Speaker 2: some really high tradable infation, so real high global prices.

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Speaker 2: But ultimately, since the government has come in, the economy

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Speaker 2: is going backwards. We've lost thirty six thousand jobs since

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Speaker 2: they took over. We've had two seven hundred business liquidations,

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Speaker 2: and Kiwis are leaving overseas like two hundred per day,

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Speaker 2: So the economy has gone backwards. Christall lacks and promised

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Speaker 2: to make it better, but he's made it worse.

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Speaker 1: Hey, Barbara, A lot of people were impressed by your

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Speaker 1: performance at the mood of the boardroom the other week.

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Speaker 1: Have you had much good feedback about that?

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Speaker 2: I have, and it was an interesting time time to

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Speaker 2: be there. And then ultimately I think it was a

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Speaker 2: very strong message to Nikola Willis and for Christopher Laxling

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Speaker 2: that you can keep saying gross, gross growth, but you

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Speaker 2: actually that they actually want to see action on net All.

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Speaker 1: Right, Barbara, appreciate your time this morning. Thanks for being

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Speaker 1: on the show. Barbara Edmonds, whose Labour's finance spokesperson. For

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Speaker 1: more from early edition with Ryan Bridge, listen live to

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Speaker 1: News Talks. It'd be from five am weekdays, or follow

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Speaker 1: the podcast on iHeartRadio