1 00:00:01,960 --> 00:00:06,480 Speaker 1: The issues, these reviews and the inside. Ryan Bridge on 2 00:00:06,680 --> 00:00:10,680 Speaker 1: early edition with one roof Make your Property search Simple. 3 00:00:11,280 --> 00:00:11,879 Speaker 2: News Talks. 4 00:00:11,960 --> 00:00:12,119 Speaker 3: Ed B. 5 00:00:12,480 --> 00:00:14,760 Speaker 2: Good morning, it is six after five News Talks. Hebe 6 00:00:14,800 --> 00:00:17,239 Speaker 2: coming up. We'll talk superannuation, the fact that we're going 7 00:00:17,320 --> 00:00:20,119 Speaker 2: to start pulling money out of the super fund. But 8 00:00:20,200 --> 00:00:22,560 Speaker 2: don't worry, it won't shrink. That's what we're told. That's 9 00:00:22,600 --> 00:00:25,760 Speaker 2: just before six this morning. Gavin Graham, the UK Zelenski's 10 00:00:25,880 --> 00:00:29,720 Speaker 2: basically going to Turkey to sit in a seat and 11 00:00:29,800 --> 00:00:31,960 Speaker 2: wait for Putin to turn up in the hope that 12 00:00:32,040 --> 00:00:34,720 Speaker 2: he does. D One will be there too. Gavin Gray 13 00:00:34,760 --> 00:00:37,800 Speaker 2: with us at quarter to six this morning. We'll get 14 00:00:37,800 --> 00:00:40,080 Speaker 2: to our reporters around the country. Plus we'll talk to 15 00:00:40,120 --> 00:00:44,599 Speaker 2: him a Ridian about buying Flick and there's something else 16 00:00:44,640 --> 00:00:45,960 Speaker 2: I wanted to talk to you about. Oh did he 17 00:00:46,800 --> 00:00:50,320 Speaker 2: Goodness me, the trial is getting weird. More on that 18 00:00:50,400 --> 00:00:51,640 Speaker 2: in a sec News Talks. HEB. 19 00:00:53,640 --> 00:00:54,360 Speaker 1: The agenda. 20 00:00:54,920 --> 00:00:56,960 Speaker 2: It is Wednesday. Thefording to the mad Trumps tour of 21 00:00:56,960 --> 00:00:59,080 Speaker 2: the Middle East kicks off with an arms deal with 22 00:00:59,200 --> 00:01:02,720 Speaker 2: the Saadi's two hundred and forty billion New Zealand dollars worth. 23 00:01:02,800 --> 00:01:04,920 Speaker 2: It's a weapons for AI swap. 24 00:01:05,560 --> 00:01:11,000 Speaker 4: The usory relationship has been a bedrug pubsecurity and prosperity. 25 00:01:12,800 --> 00:01:16,920 Speaker 4: Today read reaffirm this important bond, and we take the 26 00:01:16,920 --> 00:01:20,120 Speaker 4: next steps to make our relationship closer, stronger, and more 27 00:01:20,200 --> 00:01:21,920 Speaker 4: powerful than ever before. 28 00:01:22,200 --> 00:01:24,760 Speaker 2: Also comments on a run and Syria. I'll get to 29 00:01:24,760 --> 00:01:27,440 Speaker 2: that in a second. Kim Kardashi and giving evidence in 30 00:01:27,560 --> 00:01:29,840 Speaker 2: Paris over the gunpoint robbery. 31 00:01:30,760 --> 00:01:34,319 Speaker 5: Now, at one point she broke down in tears inside 32 00:01:34,360 --> 00:01:38,200 Speaker 5: that quarry. She said, they put the gun to my back. 33 00:01:38,480 --> 00:01:40,560 Speaker 5: And that's the first moment when I thought, should I 34 00:01:40,640 --> 00:01:43,080 Speaker 5: run for it down the stairs? But it wasn't a 35 00:01:43,120 --> 00:01:45,880 Speaker 5: good option, so I stayed and I realized I should 36 00:01:45,880 --> 00:01:47,720 Speaker 5: probably do whatever they say. 37 00:01:48,920 --> 00:01:52,360 Speaker 2: Now to New York, Diddy's ex girlfriend in his six 38 00:01:52,400 --> 00:01:56,400 Speaker 2: trafficking trial says six and drug parties lasted up to 39 00:01:56,520 --> 00:02:01,520 Speaker 2: four days. They were called freak coughs. Apparently they apparently 40 00:02:01,520 --> 00:02:04,960 Speaker 2: they were brutal. Now, yesterday the court heard from Daniel Phillip. 41 00:02:05,240 --> 00:02:08,240 Speaker 2: He's a former manager of male strippers. 42 00:02:08,760 --> 00:02:09,520 Speaker 6: He heard what he. 43 00:02:09,600 --> 00:02:13,920 Speaker 7: Believed was an assault of Holmes beating Ventura, but he 44 00:02:14,000 --> 00:02:15,320 Speaker 7: did return to see. 45 00:02:15,120 --> 00:02:17,240 Speaker 8: The couple again. After those interactions. 46 00:02:17,400 --> 00:02:20,399 Speaker 7: Some of the graphic details that even Holmes's children's had 47 00:02:20,440 --> 00:02:21,600 Speaker 7: to get up and leave. 48 00:02:21,440 --> 00:02:24,480 Speaker 2: The courtroom for it is eight after five. 49 00:02:26,120 --> 00:02:29,799 Speaker 1: Get ahead of the headlines on early edition with Ryan 50 00:02:29,880 --> 00:02:34,000 Speaker 1: Bridge and one roof Make Your Property Search Simple News 51 00:02:34,000 --> 00:02:35,120 Speaker 1: Talk said be we. 52 00:02:35,080 --> 00:02:38,280 Speaker 2: Talked about Flick Electric yesterday and this now had the 53 00:02:38,400 --> 00:02:41,560 Speaker 2: news confirmed that Meriadian is basically swallowing up Flicks. So 54 00:02:41,600 --> 00:02:44,080 Speaker 2: we'll have Meriadian on the program at twenty past five 55 00:02:44,200 --> 00:02:46,560 Speaker 2: this morning. A few questions for them about what that 56 00:02:46,639 --> 00:02:50,959 Speaker 2: means for your power prices. Now, this pay parity debate 57 00:02:51,040 --> 00:02:53,480 Speaker 2: thing is not going away. Actually, I was talking to 58 00:02:53,600 --> 00:02:57,440 Speaker 2: a friend of mine yesterday who's a woman who doesn't 59 00:02:57,480 --> 00:03:01,240 Speaker 2: have children, and which I was saying, you know, you 60 00:03:01,280 --> 00:03:04,359 Speaker 2: don't do too bad money wise, and people will say 61 00:03:04,639 --> 00:03:07,280 Speaker 2: I'm man explaining whatever. I don't really care. I'm just 62 00:03:07,639 --> 00:03:10,880 Speaker 2: we're just having a conversation. And I looked it up. 63 00:03:10,919 --> 00:03:13,280 Speaker 2: There's some studies that have been done, one out of 64 00:03:13,280 --> 00:03:17,480 Speaker 2: Princeton that says women tend to take lower paid but 65 00:03:17,600 --> 00:03:21,080 Speaker 2: more flexible roles after their first child, and that affects 66 00:03:21,120 --> 00:03:23,760 Speaker 2: their pay and their career prospects. Laid down the track 67 00:03:23,800 --> 00:03:28,320 Speaker 2: that actually childless women tend to earn around the same 68 00:03:28,360 --> 00:03:30,519 Speaker 2: as men. This is not me saying that this is 69 00:03:30,560 --> 00:03:36,040 Speaker 2: a study. All right, calm down, but you know it 70 00:03:36,320 --> 00:03:38,600 Speaker 2: is it a gender issue? Are their gender issues? I'm 71 00:03:38,640 --> 00:03:41,800 Speaker 2: sure there are, But is the child bearing and rearing 72 00:03:41,840 --> 00:03:44,720 Speaker 2: issue actually a bigger one potentially when it comes to pay. 73 00:03:45,000 --> 00:03:47,600 Speaker 2: I don't know anyway, whatever whatever that's going on, this 74 00:03:47,640 --> 00:03:49,880 Speaker 2: issue is not going to go away. It's just not 75 00:03:50,240 --> 00:03:52,760 Speaker 2: before the election and Labor will make sure of that. 76 00:03:53,800 --> 00:03:56,360 Speaker 2: The problem I think for the government, and this is 77 00:03:56,360 --> 00:03:58,360 Speaker 2: what was in the House the other day, was watching 78 00:03:58,440 --> 00:04:01,360 Speaker 2: Chloe Swarbrook, who so actually I think made a good 79 00:04:01,400 --> 00:04:06,760 Speaker 2: point that just weeks after the budget, all MPs, including 80 00:04:06,760 --> 00:04:10,000 Speaker 2: the cabinet, including the Prime Minister, are going to get 81 00:04:10,000 --> 00:04:14,520 Speaker 2: what pay rise seven hundred thousand dollars worth of extra 82 00:04:14,600 --> 00:04:19,000 Speaker 2: pay this year one point two four million dollars next year. 83 00:04:19,520 --> 00:04:22,400 Speaker 2: Now like it all though that politics is about perception 84 00:04:23,960 --> 00:04:27,520 Speaker 2: and this is an independent body, right but Luxon was 85 00:04:27,560 --> 00:04:30,799 Speaker 2: asked about it in the House. It's an independent body 86 00:04:30,839 --> 00:04:33,880 Speaker 2: that decides. But guess what they do. They compare his 87 00:04:34,000 --> 00:04:38,039 Speaker 2: job to similar jobs here and overseas and decide what 88 00:04:38,080 --> 00:04:40,719 Speaker 2: he should be paid. Now does that sound familiar to you, Yeah, 89 00:04:40,800 --> 00:04:42,520 Speaker 2: it sounds a little bit like the pay parity thing, 90 00:04:42,560 --> 00:04:45,080 Speaker 2: doesn't it and close Swarbrick, to her credit, was actually 91 00:04:45,080 --> 00:04:47,919 Speaker 2: onto this and said, you know, why are you taking 92 00:04:48,000 --> 00:04:50,359 Speaker 2: the paying increase? And it's not that simple, it's not 93 00:04:50,400 --> 00:04:53,160 Speaker 2: black and white, but it's just politics, right, why are 94 00:04:53,160 --> 00:04:55,320 Speaker 2: you taking the pay increase and then you're cutting the 95 00:04:55,320 --> 00:04:58,360 Speaker 2: pay for women? Blah blah blah. So I reckon. If 96 00:04:58,360 --> 00:05:02,080 Speaker 2: I was Chris Hipkins, what I would do is immediately 97 00:05:02,120 --> 00:05:07,080 Speaker 2: announced that Labour's caucus won't accept the increase, or they'll 98 00:05:07,080 --> 00:05:09,400 Speaker 2: accept it and donate it to a woman's cause or 99 00:05:09,400 --> 00:05:11,919 Speaker 2: something like that. Because then at the budget you stand 100 00:05:11,960 --> 00:05:14,440 Speaker 2: there and you go, oh look, here's mister rich guy, 101 00:05:14,720 --> 00:05:19,640 Speaker 2: you know, getting tens of thousands dollars extra and taking 102 00:05:19,680 --> 00:05:22,800 Speaker 2: the money away from the women. Remember just Sinda Adourn froze, 103 00:05:23,920 --> 00:05:26,440 Speaker 2: she froze the pay for MPs when she was empowered 104 00:05:26,480 --> 00:05:28,520 Speaker 2: think back in twenty eighteen. So it can be done. 105 00:05:28,600 --> 00:05:32,240 Speaker 2: It's not impossible. That'd be what I would do. That 106 00:05:32,240 --> 00:05:34,800 Speaker 2: would be my advice for Labor. This morning just got 107 00:05:34,800 --> 00:05:37,320 Speaker 2: eleven minutes after five News talk ZIB coming up next, 108 00:05:37,360 --> 00:05:40,359 Speaker 2: we're going to talk about cybersecurity, the threats that you 109 00:05:40,440 --> 00:05:43,560 Speaker 2: face and how much it's costing us each of us 110 00:05:43,680 --> 00:05:44,200 Speaker 2: every year. 111 00:05:44,800 --> 00:05:47,719 Speaker 1: News and Views you Trust has done. Your day is 112 00:05:47,839 --> 00:05:51,600 Speaker 1: early edition with Ryan Bridge and One Room, Make your 113 00:05:51,640 --> 00:05:53,880 Speaker 1: Property Search Simple, News. 114 00:05:53,680 --> 00:05:57,039 Speaker 2: Talk ZIB fourteen after five. We've got us inflation data 115 00:05:57,040 --> 00:05:59,640 Speaker 2: out for April this morning, the Consumer Price Index, This 116 00:05:59,720 --> 00:06:03,520 Speaker 2: is CEA only adjusted rose zero point two percent for April. 117 00:06:03,760 --> 00:06:06,840 Speaker 2: This is good news because it's not terrible news. They 118 00:06:06,880 --> 00:06:09,599 Speaker 2: were worried obviously after Liberation Day, which was April second, 119 00:06:09,760 --> 00:06:12,280 Speaker 2: worried that that would have pushed prices through the roof 120 00:06:12,320 --> 00:06:16,320 Speaker 2: for the month. That hasn't happened, but doesn't mean it 121 00:06:16,360 --> 00:06:18,440 Speaker 2: won't later on in the summer. You could start to 122 00:06:18,440 --> 00:06:20,520 Speaker 2: see the flow through, the flow on effects of that. 123 00:06:20,520 --> 00:06:24,280 Speaker 2: It's just gone fourteen after five. Y half of us 124 00:06:24,320 --> 00:06:27,000 Speaker 2: were the target. Half of us the target of online 125 00:06:27,000 --> 00:06:29,360 Speaker 2: scammons and frauds last year. That's according to a new 126 00:06:29,400 --> 00:06:32,400 Speaker 2: survey from the National Cybersecurity Center. It found the cost 127 00:06:32,440 --> 00:06:35,320 Speaker 2: of the country total one point six billion in twenty 128 00:06:35,360 --> 00:06:39,040 Speaker 2: twenty four. Mike Yagish the National Cybersecurity Center with us 129 00:06:39,080 --> 00:06:39,520 Speaker 2: this morning. 130 00:06:39,560 --> 00:06:42,520 Speaker 3: Mike, good morning, Hey, good morning, Ryan, Thanks for having me. 131 00:06:42,640 --> 00:06:45,720 Speaker 2: Yeah, good to have you on. So who's doing this targeting. 132 00:06:46,920 --> 00:06:51,440 Speaker 3: Well, this targeting will be a range of cyber criminals. 133 00:06:51,480 --> 00:06:53,960 Speaker 3: And what we know is, you know why we might 134 00:06:54,520 --> 00:06:57,839 Speaker 3: think that we might not be targeted, and these cybercriminals 135 00:06:57,880 --> 00:07:01,440 Speaker 3: would go after anyone who has information or money. So 136 00:07:01,560 --> 00:07:03,760 Speaker 3: that really means that any of us could be subject 137 00:07:03,839 --> 00:07:04,800 Speaker 3: to these sorts of things. 138 00:07:05,000 --> 00:07:07,320 Speaker 2: Eight hundred and thirty thousand of us fell the scams 139 00:07:07,360 --> 00:07:10,080 Speaker 2: or were tricked by scams. The financial loss average was 140 00:07:10,080 --> 00:07:13,040 Speaker 2: twelve hundred and sixty dollars. What was what's the most 141 00:07:13,080 --> 00:07:16,000 Speaker 2: anyone's in that year? What's the most someone or a 142 00:07:16,000 --> 00:07:16,800 Speaker 2: company lost? 143 00:07:17,840 --> 00:07:19,880 Speaker 3: Oh? Sure, it's a huge range, you know, it goes 144 00:07:19,880 --> 00:07:24,600 Speaker 3: from tens of dollars up to hundreds of thousand, hundreds 145 00:07:24,600 --> 00:07:27,520 Speaker 3: of thousands. I think though, what's important to remember is 146 00:07:27,520 --> 00:07:31,760 Speaker 3: that it's a financial loss here, but there's also the 147 00:07:31,840 --> 00:07:35,840 Speaker 3: loss of time, the loss of information, and the emotional 148 00:07:35,920 --> 00:07:39,400 Speaker 3: well being cold. So although the money differs and money 149 00:07:39,440 --> 00:07:42,280 Speaker 3: means different things to different people, so these can have 150 00:07:42,400 --> 00:07:44,720 Speaker 3: huge impacts on the daily lives of us. 151 00:07:44,800 --> 00:07:46,680 Speaker 2: Have you managed to track any of the money, find 152 00:07:46,720 --> 00:07:49,640 Speaker 2: out who's actually doing it, where the money has gone. 153 00:07:51,280 --> 00:07:55,200 Speaker 3: No, there's not really been our focus through this report. Really, 154 00:07:55,240 --> 00:07:58,000 Speaker 3: what we're trying to do is kind of break down 155 00:07:58,040 --> 00:08:01,880 Speaker 3: this barrier where I think feel this won't happen to us, 156 00:08:01,920 --> 00:08:05,200 Speaker 3: but our research, who's happens to over half of us. 157 00:08:05,800 --> 00:08:08,440 Speaker 3: We therefore all need to take some practical steps to 158 00:08:08,480 --> 00:08:09,560 Speaker 3: improve our security. 159 00:08:09,960 --> 00:08:12,560 Speaker 2: Have you are you aware of any threats coming from 160 00:08:12,840 --> 00:08:15,679 Speaker 2: any of these scams coming from North Korea to New Zealand. 161 00:08:17,520 --> 00:08:22,160 Speaker 3: In this research, we have asked people about the threats 162 00:08:22,160 --> 00:08:27,760 Speaker 3: that they've faced, and we haven't helped them through detail 163 00:08:27,880 --> 00:08:30,480 Speaker 3: into each of the reports through the research. 164 00:08:30,840 --> 00:08:33,680 Speaker 2: Do you know, generally outside of this research, are we 165 00:08:33,720 --> 00:08:36,840 Speaker 2: getting hacked and attacked by North Korea? 166 00:08:37,440 --> 00:08:43,320 Speaker 3: When we do our annual reports, we say that there 167 00:08:43,360 --> 00:08:45,920 Speaker 3: are a ranger three actors out there summer. 168 00:08:46,920 --> 00:08:49,760 Speaker 2: Why don't we Why don't we name them? Because Google 169 00:08:49,840 --> 00:08:51,720 Speaker 2: came out this year with a release and said North 170 00:08:51,760 --> 00:08:54,599 Speaker 2: Korea is attacking New Zealand and Australia. 171 00:08:56,520 --> 00:08:59,640 Speaker 3: In some cases we do name states. I guess what 172 00:08:59,640 --> 00:09:03,640 Speaker 3: what important for us is that often, as if you're 173 00:09:03,679 --> 00:09:09,280 Speaker 3: defending yourself or you're defending your organization, understanding who did 174 00:09:09,320 --> 00:09:12,839 Speaker 3: it isn't always the most important thing. Understanding the techniques 175 00:09:12,960 --> 00:09:15,360 Speaker 3: or the types of things that people are doing is 176 00:09:15,400 --> 00:09:19,320 Speaker 3: more important because that's how that helps you inform your defense. 177 00:09:20,000 --> 00:09:22,920 Speaker 2: We call them out though, I mean, are you aware 178 00:09:22,920 --> 00:09:24,040 Speaker 2: of any from North Korea? 179 00:09:24,800 --> 00:09:27,920 Speaker 3: And where is important for us to call it out? 180 00:09:27,960 --> 00:09:31,280 Speaker 3: We do so so. For example, last year we publicly 181 00:09:31,320 --> 00:09:38,280 Speaker 3: attributed an attack against our parliamentary services to the People's 182 00:09:38,280 --> 00:09:40,400 Speaker 3: Republic of China. And we do that when we believe 183 00:09:40,440 --> 00:09:43,840 Speaker 3: it's in the best interests for the country. But in 184 00:09:43,920 --> 00:09:48,479 Speaker 3: other times it's not necessarily required to inform the defenses 185 00:09:48,520 --> 00:09:49,520 Speaker 3: that people need to take. 186 00:09:49,679 --> 00:09:52,040 Speaker 2: All right, I appreciate your time this morning, Mike, take 187 00:09:52,080 --> 00:09:55,720 Speaker 2: care of Mike yagas the National Cybersecurity Center Director of 188 00:09:55,800 --> 00:09:59,040 Speaker 2: Mission Enablement. That's a part of the GCSPE It's just 189 00:09:59,440 --> 00:10:02,000 Speaker 2: hence the seek see eighteen minutes after five. We'll get 190 00:10:02,040 --> 00:10:04,040 Speaker 2: to Meridian next on their purchase of Flick. 191 00:10:05,160 --> 00:10:08,800 Speaker 1: Ryan Bridge on affili edition with one roof Make your 192 00:10:08,840 --> 00:10:11,800 Speaker 1: Property Search Simple used talk Zivvy. 193 00:10:12,200 --> 00:10:14,800 Speaker 2: Five twenty news Talk ZB. The rumors were true. Z 194 00:10:15,040 --> 00:10:17,559 Speaker 2: Energy's power company, Flick has bowed out of the market 195 00:10:17,720 --> 00:10:20,120 Speaker 2: forty one thousand customers. They're going to move to Meridian, 196 00:10:20,160 --> 00:10:22,920 Speaker 2: who bought it for seventy million. The market now dominated 197 00:10:22,960 --> 00:10:25,640 Speaker 2: by the four major gen Taylors and the various brands 198 00:10:25,720 --> 00:10:28,920 Speaker 2: under which they sell electricity. Lisa Hannafan, the Meridian chief 199 00:10:29,000 --> 00:10:31,760 Speaker 2: customer officer, with me this morning. Lisa, good morning, Good 200 00:10:31,840 --> 00:10:34,280 Speaker 2: morning Ryan. Is this going to mean higher prices for 201 00:10:34,360 --> 00:10:36,760 Speaker 2: the market now that it's more consolidated and we have 202 00:10:36,920 --> 00:10:38,240 Speaker 2: fewer retail options? 203 00:10:39,520 --> 00:10:42,200 Speaker 8: I don't think so. I think that New Zealand's actually 204 00:10:42,320 --> 00:10:45,360 Speaker 8: really well served with the amount of competitors we've got. 205 00:10:45,480 --> 00:10:48,400 Speaker 8: We've got more in New Zealand per capita than both 206 00:10:48,440 --> 00:10:51,640 Speaker 8: Australia and the UK, and we all compete pretty fiercely 207 00:10:51,720 --> 00:10:52,120 Speaker 8: out here. 208 00:10:53,200 --> 00:10:56,439 Speaker 2: But we've just you've just consolidated. You're taking on what 209 00:10:57,360 --> 00:10:59,080 Speaker 2: an eighteen percent market share? 210 00:10:59,160 --> 00:10:59,320 Speaker 3: Is there? 211 00:10:59,400 --> 00:10:59,839 Speaker 2: What you've got? 212 00:11:01,400 --> 00:11:04,360 Speaker 8: That's right? Well, once we've acquired Flick, we'll have eighteen percent, 213 00:11:04,480 --> 00:11:06,880 Speaker 8: so that will leave us in our normal position, which 214 00:11:06,920 --> 00:11:09,080 Speaker 8: is the fourth largest electricity retailer. 215 00:11:09,840 --> 00:11:12,040 Speaker 2: And you don't think it's going to have any effect 216 00:11:12,120 --> 00:11:12,640 Speaker 2: on prices. 217 00:11:13,760 --> 00:11:17,120 Speaker 8: I don't think it is. No. I think that we're 218 00:11:17,200 --> 00:11:19,959 Speaker 8: all fighting for every customer that we get, and we 219 00:11:20,080 --> 00:11:23,120 Speaker 8: know that customers expect really good value for money, so 220 00:11:24,240 --> 00:11:27,880 Speaker 8: we think that our pricing is really fair and that 221 00:11:28,240 --> 00:11:31,600 Speaker 8: our Newflix customers will be really well served. 222 00:11:32,320 --> 00:11:35,679 Speaker 2: Do you give, as a business preferential hedge deals to 223 00:11:35,840 --> 00:11:38,400 Speaker 2: your retail alarm? This is what the Commerce Commission says 224 00:11:38,440 --> 00:11:38,599 Speaker 2: you do. 225 00:11:40,320 --> 00:11:42,600 Speaker 8: Yes, we have heard that, but that's not really how 226 00:11:42,679 --> 00:11:46,280 Speaker 8: it works. Obviously, we are a vertically integrated business, and 227 00:11:46,480 --> 00:11:48,679 Speaker 8: that's actually a really great thing for customers because what 228 00:11:48,760 --> 00:11:52,360 Speaker 8: it means is that we can insulate those customers from 229 00:11:52,440 --> 00:11:56,719 Speaker 8: the volatility that you do see in a renewables market. So, no, 230 00:11:56,920 --> 00:12:00,599 Speaker 8: we don't give preferential treatment. We offer hedges to the 231 00:12:00,679 --> 00:12:02,040 Speaker 8: market just like everybody else. 232 00:12:02,160 --> 00:12:05,000 Speaker 2: But are they on the same terms as you would 233 00:12:05,040 --> 00:12:07,880 Speaker 2: offer to the smaller players, Because this is the argument, 234 00:12:08,000 --> 00:12:11,400 Speaker 2: right that the lights of Flick have been pushed to 235 00:12:11,480 --> 00:12:15,640 Speaker 2: the wall and forced to sell because they're not getting 236 00:12:15,679 --> 00:12:19,800 Speaker 2: the same access to sweetheart deals as if they were 237 00:12:20,120 --> 00:12:21,640 Speaker 2: a vertically integrated business. 238 00:12:22,480 --> 00:12:22,680 Speaker 4: Yeah. 239 00:12:22,840 --> 00:12:25,000 Speaker 8: So one of the things that was really attractive about 240 00:12:25,000 --> 00:12:29,080 Speaker 8: the Flick proposition is that they did have a really 241 00:12:29,160 --> 00:12:32,920 Speaker 8: sophisticated hedge book, so they were actually really well hedged, 242 00:12:32,960 --> 00:12:35,679 Speaker 8: which is just a demonstration that it is possible to 243 00:12:35,720 --> 00:12:38,599 Speaker 8: build that really strong book even if you are not 244 00:12:38,720 --> 00:12:41,800 Speaker 8: a generator of electricity. So I don't think that is 245 00:12:41,880 --> 00:12:44,800 Speaker 8: the case. Flick have decided that they want to exit 246 00:12:44,880 --> 00:12:47,160 Speaker 8: the market to focus on what their core business is, 247 00:12:47,240 --> 00:12:50,520 Speaker 8: which is transport and EVS, and so they're getting out 248 00:12:50,520 --> 00:12:53,679 Speaker 8: of retailing electricity in both New Zealand and Australia. It's 249 00:12:53,760 --> 00:12:56,040 Speaker 8: not about a takeover of the gen tailors. 250 00:12:56,240 --> 00:12:59,199 Speaker 2: So you're if you're telling me that you do not 251 00:12:59,720 --> 00:13:03,559 Speaker 2: and you have never given better terms or conditions on 252 00:13:03,640 --> 00:13:07,040 Speaker 2: a hedge deal to your own retail arm than you 253 00:13:07,120 --> 00:13:10,760 Speaker 2: would have given to any smaller operator. Is the Commerce 254 00:13:10,800 --> 00:13:12,640 Speaker 2: Commission lying or wrong? 255 00:13:13,840 --> 00:13:19,480 Speaker 8: I don't think the Commerce Commission is lying certainly right. Well, 256 00:13:19,480 --> 00:13:22,160 Speaker 8: I don't think that we're saying that. I think how 257 00:13:22,520 --> 00:13:25,240 Speaker 8: how vertical integration works is we don't sell hedges to 258 00:13:25,320 --> 00:13:28,880 Speaker 8: our retail business. We're one business that generates electricity and 259 00:13:28,960 --> 00:13:31,640 Speaker 8: we also retail to our customers, and we have some 260 00:13:31,800 --> 00:13:35,280 Speaker 8: internal mechanisms for how that works, but we certainly don't 261 00:13:35,320 --> 00:13:37,360 Speaker 8: sell hedges internally, that's not how it works. 262 00:13:37,559 --> 00:13:39,080 Speaker 2: What are your internal mechanisms? 263 00:13:40,280 --> 00:13:43,120 Speaker 8: So we generate electricity and we sell it on the market, 264 00:13:43,240 --> 00:13:47,599 Speaker 8: and we also buy energy and we sell it to 265 00:13:47,679 --> 00:13:50,239 Speaker 8: our retail customers, and that s that's how it works. 266 00:13:50,320 --> 00:13:53,680 Speaker 2: Right, So there's No, you cannot see where the Commerce 267 00:13:53,679 --> 00:13:55,600 Speaker 2: Commission is coming from at all in their in their 268 00:13:55,640 --> 00:13:58,240 Speaker 2: complaints and their their sort of request for change. 269 00:13:59,080 --> 00:14:03,240 Speaker 8: Look, we really wellcome any investigation into the industry. We 270 00:14:03,320 --> 00:14:05,600 Speaker 8: want it to be really strong and robust. We think 271 00:14:05,640 --> 00:14:09,480 Speaker 8: that's really important. Energy is the cornerstone of our economy 272 00:14:09,520 --> 00:14:11,559 Speaker 8: and everybody needs to use it in their life, so 273 00:14:11,720 --> 00:14:15,520 Speaker 8: we'll welcome any investigation. But I'm really confident that we're 274 00:14:15,559 --> 00:14:16,600 Speaker 8: doing the right thing, all. 275 00:14:16,559 --> 00:14:19,080 Speaker 2: Right, Lisa appreciate Tom's wanting. Lexa Hannafin Ridy and Chief 276 00:14:19,120 --> 00:14:21,600 Speaker 2: Customer Officer with US just gone twenty four after five 277 00:14:21,760 --> 00:14:23,560 Speaker 2: News Talks VB the early. 278 00:14:23,520 --> 00:14:28,680 Speaker 1: Edition full the show podcast on iHeartRadio, how It by NEWSTALKSB. 279 00:14:29,040 --> 00:14:31,680 Speaker 2: News Talks MB it is five twenty six. Labor is 280 00:14:31,760 --> 00:14:34,000 Speaker 2: back to its old tricks ahead of the budget. We've 281 00:14:34,040 --> 00:14:36,800 Speaker 2: got the same message basically we got from a barefoot 282 00:14:36,920 --> 00:14:39,600 Speaker 2: jandle wearing Chippy on day one of his post summer break. 283 00:14:40,040 --> 00:14:43,240 Speaker 2: More debt, borrow more and spend more, name and issue. 284 00:14:43,280 --> 00:14:46,600 Speaker 2: Pick a portfolio, any portfolio where Labor has not criticized 285 00:14:46,640 --> 00:14:48,920 Speaker 2: the government for cuts and promise to restore spending to 286 00:14:49,040 --> 00:14:52,360 Speaker 2: pre willis levels. The latest example, of course, is pay parity, 287 00:14:52,480 --> 00:14:55,080 Speaker 2: but that's the latest in the long list. In case 288 00:14:55,120 --> 00:14:58,320 Speaker 2: they didn't get the memo here, we's voted for cuts 289 00:14:58,360 --> 00:15:01,400 Speaker 2: at the last election. We're doing our bit. The government 290 00:15:01,440 --> 00:15:03,800 Speaker 2: ought to do it's but that is the politics of it. 291 00:15:04,560 --> 00:15:07,400 Speaker 2: The economics have been up for debate recently. Net core 292 00:15:07,520 --> 00:15:10,080 Speaker 2: Crown debt and this is not debatable, has more than 293 00:15:10,200 --> 00:15:13,040 Speaker 2: doubled on pre COVID to one hundred and eighty two 294 00:15:13,320 --> 00:15:17,080 Speaker 2: billion dollars or forty two point six percent of GDP. 295 00:15:18,040 --> 00:15:19,960 Speaker 2: Some of this is inflation, but much of it is not. 296 00:15:20,280 --> 00:15:23,520 Speaker 2: Spending has been baked in. Couple of things to note. Yes, 297 00:15:23,600 --> 00:15:26,240 Speaker 2: government debt is low compared to other OECD countries, and 298 00:15:26,280 --> 00:15:29,120 Speaker 2: that's what you hear labours say. But the credit rating 299 00:15:29,160 --> 00:15:31,720 Speaker 2: agencies are telling us to get it down back to 300 00:15:31,840 --> 00:15:34,840 Speaker 2: surplus or you risk a credit downgrade and then you're 301 00:15:34,920 --> 00:15:40,000 Speaker 2: borrowing costs you more. We're already spending more financing debt 302 00:15:40,440 --> 00:15:46,120 Speaker 2: than we do on defense, police, corrections, justice and customs combined. 303 00:15:47,040 --> 00:15:49,640 Speaker 2: And remember where the shaky aisles. We've got huge exposure 304 00:15:49,680 --> 00:15:52,000 Speaker 2: to trade. We need headroom to borrow big if shite 305 00:15:52,080 --> 00:15:55,400 Speaker 2: hits the fan. Ask any economist all the person who 306 00:15:55,480 --> 00:15:57,640 Speaker 2: runs your household, and they'll tell you that borrowing for 307 00:15:57,760 --> 00:15:59,880 Speaker 2: everyday spending is a bad idea. And we're doing that 308 00:16:00,080 --> 00:16:03,000 Speaker 2: year after year after year after year. And if that's 309 00:16:03,040 --> 00:16:05,720 Speaker 2: not enough to convince you. On debt, here's the kicker, 310 00:16:06,200 --> 00:16:09,920 Speaker 2: the real doozy private debt. You know, our student loans 311 00:16:10,000 --> 00:16:13,480 Speaker 2: and our mortgages one hundred and twenty percent of GDP 312 00:16:13,880 --> 00:16:17,360 Speaker 2: higher than America, Spain, Germany, Ireland and a bunch of 313 00:16:17,400 --> 00:16:20,640 Speaker 2: other countries. The worst part, we owe most of it 314 00:16:20,960 --> 00:16:25,280 Speaker 2: to foreign banks. We can't afford more debt. And yes, 315 00:16:25,840 --> 00:16:29,480 Speaker 2: Nikola Willis is still spending more, but it's less than labor. 316 00:16:29,720 --> 00:16:33,760 Speaker 2: The lesser of two evils, Ryan Bridge Talks, said b 317 00:16:33,880 --> 00:16:36,720 Speaker 2: Gavin Gray in the UK. Coming up after our reporters 318 00:16:37,160 --> 00:16:41,000 Speaker 2: more on Zelenski and Kim Kay here on news Talk 319 00:16:41,200 --> 00:16:45,960 Speaker 2: is z b Oh, we're a bit early, aren't we 320 00:16:47,800 --> 00:16:50,160 Speaker 2: We're only twenty nine minutes. We're only twenty nine minutes 321 00:16:50,200 --> 00:16:54,200 Speaker 2: after five, So there you go. Basically, I mean, the 322 00:16:54,280 --> 00:16:57,040 Speaker 2: thing is, you can't say. You can't say that Nicola 323 00:16:57,040 --> 00:16:59,320 Speaker 2: Willis is not spending more than Grant Robertson did because 324 00:16:59,360 --> 00:17:02,680 Speaker 2: she blatantly. But you can say that when it comes 325 00:17:02,720 --> 00:17:04,280 Speaker 2: to debt, and if you're worried about debt, and I 326 00:17:04,400 --> 00:17:06,800 Speaker 2: think we should be worried about debt, then it is 327 00:17:06,880 --> 00:17:09,400 Speaker 2: the lesser of two evils the National Party heading into 328 00:17:09,440 --> 00:17:13,080 Speaker 2: this budget. So Kim Kardashian is in court in Paris. 329 00:17:13,840 --> 00:17:16,560 Speaker 2: She's been crying. She looks amazing, of course, dressed up 330 00:17:16,600 --> 00:17:18,760 Speaker 2: to go and there for the photo for the cameras. Anyway, 331 00:17:18,840 --> 00:17:21,760 Speaker 2: she's in court and she's been giving her testimony. It's 332 00:17:21,880 --> 00:17:23,840 Speaker 2: it's rather interesting what she's got to say. So we'll 333 00:17:23,840 --> 00:17:26,639 Speaker 2: talk to Gavin Gray about that and Zelensky heading to 334 00:17:26,720 --> 00:17:33,120 Speaker 2: Turkey hoping for a deal. All ahead, keen, no need 335 00:17:33,240 --> 00:17:35,120 Speaker 2: always three D come. 336 00:17:35,080 --> 00:17:38,560 Speaker 1: Up the news you need this morning and the in 337 00:17:38,720 --> 00:17:42,760 Speaker 1: depth analysis early edition with Ryan Bridge and one roof 338 00:17:42,960 --> 00:17:44,879 Speaker 1: Make your Property search Simple. 339 00:17:45,119 --> 00:17:48,719 Speaker 2: News talks, it'd be it's not the end of the world. 340 00:17:51,000 --> 00:17:52,800 Speaker 2: Good morning, it is twenty four minutes away from the 341 00:17:52,800 --> 00:17:55,600 Speaker 2: six year on news talks be the superannuation and the 342 00:17:55,680 --> 00:17:58,480 Speaker 2: super fun with Drules that Nikola Willis announced would be 343 00:17:58,560 --> 00:18:02,399 Speaker 2: coming early yesterday. We will talk about that with Jonathan 344 00:18:02,440 --> 00:18:04,359 Speaker 2: Erickson just before six this morning. We'll get to Gavin 345 00:18:04,400 --> 00:18:08,840 Speaker 2: Gray in the UK as well. Interesting, Trump has said 346 00:18:08,880 --> 00:18:11,000 Speaker 2: he's on his tour of the Middle East. He has said, 347 00:18:11,200 --> 00:18:14,600 Speaker 2: this is a direct quote from him on Syria. They're 348 00:18:14,640 --> 00:18:17,879 Speaker 2: removing all US sanctions on Syria. This is after the 349 00:18:18,080 --> 00:18:21,080 Speaker 2: sad regim was toppled. I will be ordering the cessation 350 00:18:21,240 --> 00:18:23,560 Speaker 2: of sanctions against Syria in order to give them a 351 00:18:23,800 --> 00:18:27,760 Speaker 2: chance at greatness, it says Trump. It's their time to shine. 352 00:18:28,119 --> 00:18:32,600 Speaker 2: We're talking them, We're taking them all off and referring 353 00:18:32,640 --> 00:18:35,480 Speaker 2: to the sanctions. Good luck Syria, he says, show us 354 00:18:35,520 --> 00:18:38,960 Speaker 2: something very special. It's nice, isn't it now. We talked 355 00:18:38,960 --> 00:18:42,200 Speaker 2: about this yesterday. We talked about it in relation to maths. 356 00:18:42,280 --> 00:18:45,440 Speaker 2: But it's like another day, another hangover from cod from 357 00:18:45,480 --> 00:18:47,680 Speaker 2: the COVID lockdowns. This is the front page of the 358 00:18:47,720 --> 00:18:51,800 Speaker 2: Herald this morning. News that new entrants come to school 359 00:18:51,880 --> 00:18:55,160 Speaker 2: with behavior and oral communication issues and believe the COVID 360 00:18:55,240 --> 00:18:58,280 Speaker 2: nineteen pandemic lockdowns aren't well. The lockdowns, I'm assuming they mean, 361 00:18:58,320 --> 00:19:01,800 Speaker 2: are to blame the unions calling for more investment and 362 00:19:01,920 --> 00:19:04,639 Speaker 2: learning support to help address the problem. Of course they are. 363 00:19:06,280 --> 00:19:11,680 Speaker 2: One of them said they're so disregulated and so undiagnosed 364 00:19:12,119 --> 00:19:14,480 Speaker 2: that they come five year olds coming to school with 365 00:19:14,680 --> 00:19:18,160 Speaker 2: oral language so low we can't even communicate with them. 366 00:19:19,760 --> 00:19:21,680 Speaker 2: And yet these are the same people who said stay home, 367 00:19:21,760 --> 00:19:23,480 Speaker 2: save lives when we were in the middle of COVID 368 00:19:23,480 --> 00:19:26,280 Speaker 2: And now look at the You know there are consequences 369 00:19:26,320 --> 00:19:30,360 Speaker 2: that aren't there. Children don't learn how to talk. Twenty 370 00:19:30,400 --> 00:19:34,000 Speaker 2: two minutes away from six are We're going to dened 371 00:19:34,040 --> 00:19:36,000 Speaker 2: In Callen practice with us this morning. Calen, good morning 372 00:19:36,080 --> 00:19:38,120 Speaker 2: to you. You've got news on the ducks. Good news 373 00:19:38,160 --> 00:19:41,440 Speaker 2: for the ducks at Fiordland National Park. Yeah, this is 374 00:19:41,640 --> 00:19:43,480 Speaker 2: one of our native birds, the partech here. 375 00:19:43,640 --> 00:19:47,520 Speaker 9: They had previously become extinct due to the loss of 376 00:19:47,520 --> 00:19:50,320 Speaker 9: their habitat, predators and other threats, but docks been slowly 377 00:19:50,440 --> 00:19:54,600 Speaker 9: reintroducing them to the area around Milford Track since two 378 00:19:54,600 --> 00:19:58,520 Speaker 9: thousand and nine, complete with transmitters, and the latest reports 379 00:19:58,840 --> 00:20:01,240 Speaker 9: say that through their predator control efforts of ten eighty 380 00:20:01,280 --> 00:20:05,880 Speaker 9: they've seen an eighty six percent survival rate of these 381 00:20:06,520 --> 00:20:08,959 Speaker 9: native birds this year, and other years it's been as 382 00:20:09,040 --> 00:20:13,200 Speaker 9: low as sixteen percent. How's your weather today, come, it's 383 00:20:13,240 --> 00:20:15,240 Speaker 9: good for us flying apart from some morning cloud and 384 00:20:15,320 --> 00:20:16,000 Speaker 9: thirteen today. 385 00:20:16,119 --> 00:20:19,520 Speaker 2: All right, Clasure, it's christ Church clear, good morning, good morning. 386 00:20:19,720 --> 00:20:23,920 Speaker 2: Now the Popeyes. This is the fried Chicken place coming 387 00:20:23,960 --> 00:20:24,480 Speaker 2: your way. 388 00:20:25,160 --> 00:20:27,760 Speaker 7: Apparently, and social media is excited. 389 00:20:27,920 --> 00:20:30,680 Speaker 10: Ryan, look this fast food out there is planning to 390 00:20:30,760 --> 00:20:33,480 Speaker 10: come to the South Island. You might remember being around 391 00:20:33,560 --> 00:20:36,199 Speaker 10: South Auckland and opening in April last year. There were 392 00:20:36,280 --> 00:20:38,520 Speaker 10: queues and cues of people waiting to get in. We 393 00:20:38,640 --> 00:20:42,040 Speaker 10: now know that Tahua Properties Limited is seeking resource consent 394 00:20:42,440 --> 00:20:46,200 Speaker 10: to build a drive through Popeyes opposite the Durham Street 395 00:20:46,320 --> 00:20:49,960 Speaker 10: New World Supermarket, which is between Morehouse Avenue and Bath Street. 396 00:20:50,200 --> 00:20:52,639 Speaker 10: They also plan, and I'm probably more excited about this, 397 00:20:53,040 --> 00:20:55,800 Speaker 10: to open a separate Starbucks drive through on the same site. 398 00:20:55,880 --> 00:20:58,680 Speaker 10: With both of those outlets to operate twenty four to seven, 399 00:20:59,280 --> 00:21:01,280 Speaker 10: Some existing buildings on the site will need to be 400 00:21:01,359 --> 00:21:02,959 Speaker 10: demolished in order to make way for them. 401 00:21:03,840 --> 00:21:09,280 Speaker 2: Okay, Starbucks drive through Starbucks worth quicker, frankly, that's a 402 00:21:10,240 --> 00:21:11,280 Speaker 2: How's that? We're the clear. 403 00:21:12,000 --> 00:21:15,440 Speaker 10: Cloud clearing too fine early this afternoon southeast turning north 404 00:21:15,480 --> 00:21:17,640 Speaker 10: east end the highs thirteenth. 405 00:21:17,320 --> 00:21:19,359 Speaker 2: Brilliant, Thank you Max. Can anyone afford a house in 406 00:21:19,400 --> 00:21:20,080 Speaker 2: Wellington yet? 407 00:21:21,680 --> 00:21:26,000 Speaker 11: Well first home buyers, perhaps properly, Prices continue to slide 408 00:21:26,080 --> 00:21:28,680 Speaker 11: first quarter of the year, down zero point five percent, 409 00:21:29,000 --> 00:21:31,280 Speaker 11: now four point one percent or so lower than the 410 00:21:31,320 --> 00:21:34,879 Speaker 11: same point last year, the city seeing one of the 411 00:21:34,920 --> 00:21:39,400 Speaker 11: biggest falls, upper Hut actually doing okay, rising fractionally there. 412 00:21:39,600 --> 00:21:42,360 Speaker 11: This is qv's House price index has the average home 413 00:21:42,840 --> 00:21:45,000 Speaker 11: in the Wellington region now at eight hundred and thirty 414 00:21:45,200 --> 00:21:48,200 Speaker 11: seven thousand, compared to one point twenty five million ish 415 00:21:48,280 --> 00:21:50,679 Speaker 11: in Auckland. Still a reaction to how bloated it got 416 00:21:50,720 --> 00:21:52,840 Speaker 11: a few years ago. Lots of homes on the market, 417 00:21:52,920 --> 00:21:56,840 Speaker 11: lots of options, the public sector stuff of course, anecdotally 418 00:21:56,960 --> 00:21:59,840 Speaker 11: a similar story. More first home buyers which would make 419 00:22:00,040 --> 00:22:03,680 Speaker 11: sense investors down, more former rentals on the market as well, 420 00:22:04,240 --> 00:22:06,080 Speaker 11: which is all very good for some and not so 421 00:22:06,240 --> 00:22:06,960 Speaker 11: good for others. 422 00:22:07,200 --> 00:22:08,879 Speaker 2: Yeah, you don't want to live and you want to 423 00:22:08,880 --> 00:22:10,880 Speaker 2: get out to the eastern suburbs, really don't. You don't 424 00:22:10,880 --> 00:22:12,560 Speaker 2: want to be living in Ara Valley where it's all 425 00:22:12,640 --> 00:22:15,360 Speaker 2: dark and dingy and cold and miserable. 426 00:22:15,480 --> 00:22:18,520 Speaker 11: Yeah, Tyler Johnsonville is still popular that that sort of way. 427 00:22:19,760 --> 00:22:22,840 Speaker 2: I wouldn't have gone that way myself. Or you're going 428 00:22:22,880 --> 00:22:25,000 Speaker 2: to get on the motorway, although actually and saying that 429 00:22:25,119 --> 00:22:28,199 Speaker 2: getting on the motorway, you are quicker doing that than 430 00:22:28,240 --> 00:22:31,359 Speaker 2: you aren't getting out east through the tunnel, aren't you. Yeah, exactly, 431 00:22:31,520 --> 00:22:34,920 Speaker 2: rain points Yeah all right, maybe Taban not sounding too bad? Max. 432 00:22:34,960 --> 00:22:36,680 Speaker 2: How's the weather, Parley? 433 00:22:36,720 --> 00:22:39,040 Speaker 11: Cloudy souther He's fifteen the high Central. 434 00:22:38,880 --> 00:22:42,000 Speaker 2: Nice one, Thank you. Neva's here in Auckland, High Neva. Reetings. 435 00:22:42,240 --> 00:22:45,760 Speaker 2: So the War Memorial Museum. I saw Disney's Simpson getting 436 00:22:45,800 --> 00:22:47,360 Speaker 2: quite agitated about this yesterday. 437 00:22:47,520 --> 00:22:51,879 Speaker 7: Oh yes, Now, look it's closed until further notice. This 438 00:22:52,080 --> 00:22:55,919 Speaker 7: is after the discovery. Now there's moreesbestos. So the museum 439 00:22:55,920 --> 00:22:59,840 Speaker 7: has been closed since Saturday. Staticespestos dust was detected. Now 440 00:23:00,000 --> 00:23:02,320 Speaker 7: this was in the old museum building, in the grand foyer. 441 00:23:02,640 --> 00:23:05,080 Speaker 7: What's happened Now It's been found in other parts of 442 00:23:05,160 --> 00:23:08,359 Speaker 7: the building as well. So yeah, you're quite right. Deasley 443 00:23:08,480 --> 00:23:11,040 Speaker 7: was saying, you know, disclosure is costing the museum thousands 444 00:23:11,080 --> 00:23:14,680 Speaker 7: and lost admissions, missing out on about eight thousand dollars 445 00:23:14,720 --> 00:23:17,239 Speaker 7: a day. So the museum says, look, it's working as 446 00:23:17,280 --> 00:23:19,720 Speaker 7: fast as it can through the assessment, cleaning preparations, but 447 00:23:20,720 --> 00:23:22,600 Speaker 7: at this stage we don't know when it's going to reopen. 448 00:23:23,200 --> 00:23:26,560 Speaker 2: It is a shame. How's the weather today? 449 00:23:26,680 --> 00:23:26,960 Speaker 4: Okay? 450 00:23:27,040 --> 00:23:28,800 Speaker 7: So it's partly cloudy. We've got a shower or two 451 00:23:28,880 --> 00:23:31,720 Speaker 7: this morning, also in the afternoon, still warm though twenty 452 00:23:31,880 --> 00:23:32,320 Speaker 7: is the high. 453 00:23:32,600 --> 00:23:35,679 Speaker 2: Nice one. Never right, it is eighteen minutes away from 454 00:23:35,720 --> 00:23:38,040 Speaker 2: six year old news talk sare'd be lots of feedback 455 00:23:38,080 --> 00:23:40,959 Speaker 2: coming in on that Ryan, five year old starting school now, 456 00:23:41,080 --> 00:23:45,159 Speaker 2: is likely not born when COVID was here. Yeah, I 457 00:23:45,200 --> 00:23:47,320 Speaker 2: suppose you're right, But it's the after effects of it, 458 00:23:47,520 --> 00:23:51,000 Speaker 2: that's what they're saying. Ryan, this is rubbish. Kids can't 459 00:23:51,040 --> 00:23:53,399 Speaker 2: talk because of COVID. They would have been home with 460 00:23:53,480 --> 00:23:57,480 Speaker 2: the parents, who presumably says Simon can talk. Yeah, but 461 00:23:57,560 --> 00:24:00,640 Speaker 2: it's the interaction, isn't that when you're a toddler. It's 462 00:24:00,720 --> 00:24:02,720 Speaker 2: the interaction that you have with other kids that in 463 00:24:03,200 --> 00:24:06,720 Speaker 2: going to your daycare or your kindy or whatever, learning 464 00:24:06,800 --> 00:24:11,200 Speaker 2: all of those skills. Nine two nine two. It's eighteen 465 00:24:11,240 --> 00:24:13,159 Speaker 2: to sex News Talks B. We'll get to Deevin gray. 466 00:24:13,080 --> 00:24:17,760 Speaker 1: Nicks international correspondence with Ensit Eye Insurance Peace of Mind 467 00:24:17,840 --> 00:24:18,840 Speaker 1: for New Zealand Business. 468 00:24:20,280 --> 00:24:22,720 Speaker 2: It is called to six on News talksic Bkevin Gray's 469 00:24:22,760 --> 00:24:26,359 Speaker 2: a UK europe correspondent. Gavin, good morning now, I'm on 470 00:24:26,440 --> 00:24:29,600 Speaker 2: in the right We've got Zelenski going to Turkey in 471 00:24:30,000 --> 00:24:32,240 Speaker 2: hoping basically going to sit down in the seat next 472 00:24:32,280 --> 00:24:34,479 Speaker 2: to Erduwe and I hope that Putin turns up. 473 00:24:36,280 --> 00:24:39,800 Speaker 6: Yes, And I think the hope is probably quite justified 474 00:24:39,920 --> 00:24:43,640 Speaker 6: now because it was Putin that said, let's talk, let's 475 00:24:43,760 --> 00:24:46,560 Speaker 6: meet face to face, let's do it in Turkey. Uh, 476 00:24:46,800 --> 00:24:49,440 Speaker 6: and so lot of mi Zelensky I think pretty hopeful 477 00:24:49,480 --> 00:24:52,640 Speaker 6: that finally he will get that meeting. But he has 478 00:24:52,760 --> 00:24:56,720 Speaker 6: had to backtrack on something he said, cease fire agreement first, 479 00:24:57,359 --> 00:25:00,640 Speaker 6: then meeting face to face, and since Donald try intervention 480 00:25:00,800 --> 00:25:03,320 Speaker 6: saying you two need to sit down face to face, 481 00:25:03,880 --> 00:25:07,040 Speaker 6: that has slightly changed. So I think in that respect, 482 00:25:07,160 --> 00:25:10,520 Speaker 6: perhaps he's not quite got the introduction to the meeting 483 00:25:10,600 --> 00:25:13,440 Speaker 6: that it hoped for. But yes, the US is expected 484 00:25:13,480 --> 00:25:16,960 Speaker 6: to send a high level delegation as well, and by 485 00:25:17,080 --> 00:25:20,720 Speaker 6: confirming his visit to Turkey earlier today, Zelenski clearly sought 486 00:25:21,080 --> 00:25:25,000 Speaker 6: to intensify pressure on Russia to be there and respond 487 00:25:25,520 --> 00:25:28,080 Speaker 6: and agree to a cease fire. Whether that pressure will 488 00:25:28,080 --> 00:25:29,160 Speaker 6: pay off is another matter. 489 00:25:29,560 --> 00:25:29,920 Speaker 12: Of course. 490 00:25:30,000 --> 00:25:33,000 Speaker 6: We've been here and we've been waiting for this moment 491 00:25:33,080 --> 00:25:35,920 Speaker 6: for a long time without any show of a ceasefire. 492 00:25:36,080 --> 00:25:39,120 Speaker 2: So far, this story is incredible. This is a out 493 00:25:39,119 --> 00:25:42,600 Speaker 2: of the court of appeal, a guy who served thirty 494 00:25:42,760 --> 00:25:47,439 Speaker 2: eight years in prison for murder and his conviction's now 495 00:25:47,520 --> 00:25:49,880 Speaker 2: been quashed. You've got new DNA evidence. 496 00:25:51,000 --> 00:25:54,520 Speaker 6: Yeah, that's right. A terribly terribly sad case which of 497 00:25:54,600 --> 00:25:57,959 Speaker 6: course left a young girl murdered a twenty one year 498 00:25:57,960 --> 00:26:01,320 Speaker 6: old bar maid back in nineteen eighty but has left 499 00:26:01,359 --> 00:26:04,320 Speaker 6: a man being the victim of the longest miscarriage of 500 00:26:04,520 --> 00:26:09,680 Speaker 6: justice involving a living prisoner in British legal history fourteen thousand, 501 00:26:10,160 --> 00:26:14,680 Speaker 6: one hundred and thirteen days in custody. That's thirty eight years, 502 00:26:14,920 --> 00:26:18,560 Speaker 6: seven months and twenty one days after his arrest. Astonishing. 503 00:26:19,080 --> 00:26:23,639 Speaker 6: This is because new technology allowing a different type of 504 00:26:23,840 --> 00:26:28,440 Speaker 6: DNA profiling has shown that this man was innocent. So 505 00:26:28,760 --> 00:26:31,400 Speaker 6: Peter Sullivan is his name, and he was jailed over 506 00:26:31,440 --> 00:26:34,840 Speaker 6: the killing in nineteen eighty six as this barmaid walked 507 00:26:34,840 --> 00:26:38,000 Speaker 6: home from a shift. There was talk about him semi 508 00:26:38,160 --> 00:26:40,960 Speaker 6: sort of confessing at the time, but this might have 509 00:26:41,080 --> 00:26:44,280 Speaker 6: been owing to a mental illness that he had at 510 00:26:44,320 --> 00:26:50,400 Speaker 6: the time, and this latest DNA evidence on various substances 511 00:26:50,520 --> 00:26:54,760 Speaker 6: left in and around the body shows that it wasn't 512 00:26:54,840 --> 00:26:58,400 Speaker 6: him and therefore he has now we believe, been set 513 00:26:58,480 --> 00:27:03,040 Speaker 6: free as of about three hours ago from prison. Amazingly, 514 00:27:03,160 --> 00:27:06,240 Speaker 6: he's turned around in a statement and said he isn't bitter, 515 00:27:06,800 --> 00:27:09,320 Speaker 6: He isn't really bad about this. He said, at the 516 00:27:09,400 --> 00:27:12,320 Speaker 6: heart of it, we still have a young girl who's 517 00:27:12,440 --> 00:27:14,600 Speaker 6: been murdered and we still don't know who did it. 518 00:27:14,960 --> 00:27:18,440 Speaker 2: Go after thirty eight years in prison for a crime 519 00:27:18,480 --> 00:27:22,560 Speaker 2: you didn't commit, that's pretty gracious. Appreciate your time that's given, 520 00:27:22,560 --> 00:27:24,760 Speaker 2: Gray are UK. You're a correspondent, just gone twelve minutes 521 00:27:24,800 --> 00:27:27,800 Speaker 2: away from six. So we've heard from Nichola Willis in 522 00:27:27,800 --> 00:27:30,680 Speaker 2: the pre budget speech and she has hinted there's something 523 00:27:30,760 --> 00:27:33,880 Speaker 2: that might be coming to help with our Kiwi savers 524 00:27:34,520 --> 00:27:36,800 Speaker 2: and the government will also make its firstive and withdrawal 525 00:27:36,880 --> 00:27:39,000 Speaker 2: from the New Zealand Super fun and twenty twenty eight. 526 00:27:39,119 --> 00:27:41,440 Speaker 2: A couple of months ago, I asked Nicola Willis about 527 00:27:41,520 --> 00:27:44,120 Speaker 2: a potential boost because you need to get our savings 528 00:27:44,280 --> 00:27:45,960 Speaker 2: rates up. I think we're at about one hundred or 529 00:27:46,000 --> 00:27:48,880 Speaker 2: just over one hundred billion dollars in Kiwi saver assets 530 00:27:48,920 --> 00:27:51,119 Speaker 2: at the moment, but you look at Australia and it's 531 00:27:51,160 --> 00:27:54,200 Speaker 2: something like forty trillion or something massive. So anyway, I 532 00:27:54,240 --> 00:27:55,920 Speaker 2: asked her about this a couple of months ago. 533 00:27:56,400 --> 00:27:57,960 Speaker 12: There are a range of other ways in which we 534 00:27:58,000 --> 00:28:01,679 Speaker 12: could help KIWI savers and if their balances are including 535 00:28:01,720 --> 00:28:04,359 Speaker 12: the rates of contributions and other things. So we're working 536 00:28:04,480 --> 00:28:06,560 Speaker 12: through that. But I think it's really important that more 537 00:28:06,600 --> 00:28:09,800 Speaker 12: key Wes have more financial security in their retirement and 538 00:28:09,920 --> 00:28:12,040 Speaker 12: I'm prepared to make changes to deliver that. 539 00:28:12,440 --> 00:28:15,159 Speaker 2: Jonathan Rickson's a superannuation and super fund expert with me 540 00:28:15,240 --> 00:28:18,240 Speaker 2: this morning. Jonathan, Good morning, morning Ryan. How do you 541 00:28:18,320 --> 00:28:19,680 Speaker 2: think they might go about doing this? 542 00:28:21,720 --> 00:28:26,520 Speaker 13: Well, there's two very easy or straightforward ways. One is 543 00:28:26,680 --> 00:28:30,399 Speaker 13: to cut the rate of interest on our savings, so 544 00:28:31,040 --> 00:28:36,239 Speaker 13: you get taxed on your retirement income while it's rolling up. 545 00:28:36,440 --> 00:28:38,560 Speaker 13: And if you reduce the rate like they do in 546 00:28:38,640 --> 00:28:43,400 Speaker 13: Australia to fifteen percent tax on the investment income whereas 547 00:28:43,520 --> 00:28:45,800 Speaker 13: a lot of New Zealanders pay seventeen and a half 548 00:28:45,960 --> 00:28:48,800 Speaker 13: or twenty eight, well that would make a huge difference 549 00:28:48,920 --> 00:28:52,800 Speaker 13: to the compounding interest effect of our growing savings. The 550 00:28:52,920 --> 00:28:57,200 Speaker 13: other one would be to remove the ESCT there withholding 551 00:28:57,360 --> 00:29:01,760 Speaker 13: tax on the employer's contributions and put that in text free, 552 00:29:02,240 --> 00:29:06,320 Speaker 13: which is something that the Labor government introduced when ki 553 00:29:06,400 --> 00:29:09,680 Speaker 13: We Sayer started that the National Party took off when 554 00:29:09,720 --> 00:29:11,360 Speaker 13: they were in power under bil English. 555 00:29:11,840 --> 00:29:13,760 Speaker 2: Now those are obviously not going to be cost neutral. 556 00:29:13,800 --> 00:29:16,360 Speaker 2: They're going to cost the government something. What about an 557 00:29:16,400 --> 00:29:19,400 Speaker 2: option that wouldn't cost them anything? I putting up the 558 00:29:19,680 --> 00:29:24,040 Speaker 2: employer contribution and doing it that way, Well. 559 00:29:23,960 --> 00:29:27,840 Speaker 13: That would crust the employer something. And whilst politicians don't know, 560 00:29:28,440 --> 00:29:30,880 Speaker 13: I run a small business and I can assure you 561 00:29:31,040 --> 00:29:34,080 Speaker 13: that employers still have a vote. 562 00:29:35,200 --> 00:29:37,520 Speaker 2: Yeah, and the good point and they voted for this party, 563 00:29:37,560 --> 00:29:39,800 Speaker 2: didn't they. What about the super fund? You know the 564 00:29:39,840 --> 00:29:41,160 Speaker 2: fact that we're going to start pulling out of the 565 00:29:41,200 --> 00:29:43,080 Speaker 2: super fund early. Is it a worry or should we 566 00:29:43,160 --> 00:29:43,840 Speaker 2: rechill about this? 567 00:29:44,720 --> 00:29:48,360 Speaker 13: We should be thrilled. This is what the super fund 568 00:29:48,480 --> 00:29:51,560 Speaker 13: is for. It's up to eighty billion, which is just 569 00:29:51,640 --> 00:29:56,240 Speaker 13: a TED one hundred billion in ki We say is right. 570 00:29:56,840 --> 00:30:00,480 Speaker 13: And the point is that this super fun and is 571 00:30:00,640 --> 00:30:05,480 Speaker 13: generating returns of about ten percent perannum and one percent 572 00:30:05,680 --> 00:30:10,960 Speaker 13: of that would be eighty million, so paying thirty two 573 00:30:11,120 --> 00:30:16,240 Speaker 13: million towards our New Zealand super and reducing the tax 574 00:30:16,360 --> 00:30:19,640 Speaker 13: burden on the government or allowing that thirty two million 575 00:30:19,840 --> 00:30:24,200 Speaker 13: to be spent on health or education or pay parity 576 00:30:24,400 --> 00:30:29,320 Speaker 13: or whatever, would actually benefit the government in terms of 577 00:30:29,440 --> 00:30:33,040 Speaker 13: its fiscal position, but wouldn't damage the Super fund at all. 578 00:30:33,400 --> 00:30:36,080 Speaker 13: And as I say, that's exactly what this fund was 579 00:30:36,120 --> 00:30:39,560 Speaker 13: set up to do, to reduce the cost of New 580 00:30:39,640 --> 00:30:44,560 Speaker 13: Zealand Super. As our population ages and we live no longer. 581 00:30:44,800 --> 00:30:49,160 Speaker 2: Okay, interesting, I'm thirty years away by make calculating from 582 00:30:49,320 --> 00:30:52,680 Speaker 2: retirement age. By the time I get there, will New 583 00:30:52,760 --> 00:30:56,640 Speaker 2: Zealand Super exist? Do you think should so? 584 00:30:56,760 --> 00:31:00,600 Speaker 13: Without question? Because of this fund and because of the 585 00:31:00,680 --> 00:31:03,920 Speaker 13: system we've got now. One of the key issues is 586 00:31:03,960 --> 00:31:06,480 Speaker 13: whether they put the age up to seventy make you wake, 587 00:31:06,680 --> 00:31:07,760 Speaker 13: wait another five years. 588 00:31:07,760 --> 00:31:09,600 Speaker 3: You've got to work for the other five right, But. 589 00:31:09,800 --> 00:31:14,160 Speaker 13: In actual fact, now with the health costs and the 590 00:31:14,360 --> 00:31:17,560 Speaker 13: changing population that we've got a bit more Mari pacifica, 591 00:31:18,040 --> 00:31:20,560 Speaker 13: we think that the age of retirement should stay at 592 00:31:20,640 --> 00:31:24,400 Speaker 13: sixty five. So the less moving of the goldpost they do, 593 00:31:24,560 --> 00:31:27,520 Speaker 13: the better, But the less texts they take out during 594 00:31:27,640 --> 00:31:30,000 Speaker 13: the accumulation phase, the better. 595 00:31:30,120 --> 00:31:33,960 Speaker 2: Two Jonathan Erickson, Superannuation and Super Fund expert fascinating stuff 596 00:31:34,000 --> 00:31:36,080 Speaker 2: eight minutes away from six News Talks theb Maright. 597 00:31:36,160 --> 00:31:39,560 Speaker 1: Next, the First Word on the News of the Day 598 00:31:39,880 --> 00:31:43,239 Speaker 1: Early edition with Ryan Bridge and One Room to Make 599 00:31:43,320 --> 00:31:47,000 Speaker 1: Your Property, Surgeon Symbol News Talk ZIB looks. 600 00:31:46,760 --> 00:31:48,760 Speaker 2: Away from six on News Talks ZIB. Mike is with 601 00:31:48,920 --> 00:31:49,920 Speaker 2: us now, Good morning, Mike. 602 00:31:50,040 --> 00:31:50,920 Speaker 14: Two questions for you. 603 00:31:51,000 --> 00:31:51,440 Speaker 3: You ready? 604 00:31:52,280 --> 00:31:52,480 Speaker 2: Yes? 605 00:31:52,720 --> 00:31:56,560 Speaker 14: In what way has the Trump Administration's treatment of the 606 00:31:56,680 --> 00:32:00,640 Speaker 14: border put you off or not traveling to the United States? 607 00:32:00,800 --> 00:32:02,720 Speaker 2: No, because you look at the overall numbers and that 608 00:32:03,000 --> 00:32:05,640 Speaker 2: nothing's changed, So you take the risk. You take the risk, 609 00:32:05,760 --> 00:32:08,520 Speaker 2: and I think the probleming you've got is that it's 610 00:32:08,600 --> 00:32:10,240 Speaker 2: all in the media, so there's a lot of focus 611 00:32:10,320 --> 00:32:12,600 Speaker 2: on it. So every time someone gets frisked, you hear 612 00:32:12,640 --> 00:32:14,120 Speaker 2: about it, and so you have. 613 00:32:14,200 --> 00:32:15,240 Speaker 14: No fears whatsoever. 614 00:32:15,880 --> 00:32:16,160 Speaker 2: Okay. 615 00:32:16,520 --> 00:32:21,480 Speaker 14: Second question is would you go to watch Wrexham simply 616 00:32:21,640 --> 00:32:22,680 Speaker 14: because here? 617 00:32:23,080 --> 00:32:24,920 Speaker 2: Yeah? Would you go to watch. 618 00:32:24,760 --> 00:32:27,800 Speaker 14: Wrexham simply because Reynolds owns the side? 619 00:32:28,080 --> 00:32:31,680 Speaker 2: I was thinking about this very point yesterday. Well, first 620 00:32:31,680 --> 00:32:34,800 Speaker 2: of all, billionaires and famous people owning football clubs, but 621 00:32:35,040 --> 00:32:37,320 Speaker 2: are they actually any good? I don't know anything about them. 622 00:32:37,360 --> 00:32:38,960 Speaker 14: As Wrexham's an ordinary site. 623 00:32:39,320 --> 00:32:41,080 Speaker 2: So it is about the star pouner. 624 00:32:41,200 --> 00:32:42,040 Speaker 14: This is what I'm asking. 625 00:32:42,160 --> 00:32:42,560 Speaker 4: I don't know. 626 00:32:42,720 --> 00:32:44,640 Speaker 14: So you notice the sports news, if you're listening to that, 627 00:32:44,760 --> 00:32:47,720 Speaker 14: they're suddenly saying we don't know whether Ryan Reynolds is 628 00:32:47,800 --> 00:32:49,800 Speaker 14: coming with the Wrexham side. Now, why is that a 629 00:32:49,840 --> 00:32:50,400 Speaker 14: sports story. 630 00:32:50,400 --> 00:32:51,840 Speaker 2: It's not a sports star or a fanboy thing. 631 00:32:52,120 --> 00:32:53,400 Speaker 14: It's a fanboy thing. So if you want to go 632 00:32:53,440 --> 00:32:56,520 Speaker 14: see Ryan Reynolds, fantastic, that's okay. But why would you 633 00:32:56,600 --> 00:32:59,320 Speaker 14: go see Wrexham, which you've never heard of? You have 634 00:32:59,440 --> 00:33:02,560 Speaker 14: no interest. It's a good question under normal circumstances. See, 635 00:33:02,600 --> 00:33:04,719 Speaker 14: people don't. I'm out there on the newsroom. No one 636 00:33:04,760 --> 00:33:05,880 Speaker 14: asked these questions, right. 637 00:33:05,880 --> 00:33:08,480 Speaker 2: Well, it's like, why did people go and watch the 638 00:33:08,520 --> 00:33:11,680 Speaker 2: super Bowl? It's because of Taylor Swift. No that's not true. 639 00:33:11,960 --> 00:33:14,200 Speaker 14: Well, well we go watch the super Bowl because it's 640 00:33:14,240 --> 00:33:19,400 Speaker 14: the culm and angement, but the event as an event. 641 00:33:19,560 --> 00:33:23,000 Speaker 14: But Rixm's not an event. Rixam's only owned by a 642 00:33:23,040 --> 00:33:24,840 Speaker 14: guy you might have heard of in a movie. You 643 00:33:24,960 --> 00:33:28,560 Speaker 14: might have seen the same way Tom Brady's bought I 644 00:33:28,640 --> 00:33:31,040 Speaker 14: can't even remember the size of Boomingham whatever he's bought. 645 00:33:31,160 --> 00:33:33,720 Speaker 14: In the British Football League. If they came out here, 646 00:33:33,840 --> 00:33:35,360 Speaker 14: you know nothing about them, would you go watch them? 647 00:33:35,360 --> 00:33:37,800 Speaker 2: Just because? Tom Brady? But your problem is not with me. Mine. 648 00:33:37,840 --> 00:33:40,200 Speaker 2: Your problem is with the sports people. So we're hyping 649 00:33:40,280 --> 00:33:41,960 Speaker 2: this up. Oh no, my problem. 650 00:33:42,000 --> 00:33:43,480 Speaker 14: I'm not going but no, no, no, no, I'm just 651 00:33:43,800 --> 00:33:46,200 Speaker 14: I'm just interested in how we view these things. Well, 652 00:33:46,320 --> 00:33:48,520 Speaker 14: it's a weird old world in which we operate, isn't it. 653 00:33:48,680 --> 00:33:51,479 Speaker 14: You know what I'm saying. Nikola Willis, I've got her 654 00:33:51,600 --> 00:33:54,840 Speaker 14: on this morning. David Seymour, got him on this morning. 655 00:33:55,520 --> 00:33:58,440 Speaker 14: Got them all right, go around the going around the 656 00:33:58,480 --> 00:34:01,960 Speaker 14: cabinet table. A few secrets, all right, Mike's will be next. 657 00:34:02,040 --> 00:34:03,600 Speaker 2: Have a great day. Run sin tomorrow. 658 00:34:11,480 --> 00:34:14,439 Speaker 1: For more from Early Edition with Ryan Bridge. Listen live 659 00:34:14,560 --> 00:34:17,560 Speaker 1: to News Talks It'd be from five am weekdays, or 660 00:34:17,640 --> 00:34:19,520 Speaker 1: follow the podcast on iHeartRadio