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Speaker 1: Pressing the newswakers to get the real story. It's Ryan

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Speaker 1: Bridge on hither duplicy Ellen drive with one New Zealand

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Speaker 1: let's get connected. News folk said, be.

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Speaker 2: Good afternoon seven after four, great to have your company

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Speaker 2: this afternoon. The recession, Yes, it's bad. Stephen Joyce will

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Speaker 2: talk us through it. After five Luxon is saying no,

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Speaker 2: thanks to WHITETANGI so where is he going? Also in

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Speaker 2: New Zealand wants us to help them find our lost luggage.

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Speaker 2: Why Stuart Nash and Jordan Williams on the huddle Ryan Bridge, Well,

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Speaker 2: that clearly wasn't meant to happen, was it. The Reserve

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Speaker 2: Bank engineered this very painful recession. We've all been feeling

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Speaker 2: to try and control inflation, but clearly they went too far.

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Speaker 2: It's essentially the worst recession, the worst financial state this

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Speaker 2: country has been in since nineteen ninety one and a

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Speaker 2: little alert that was thirty three years ago. So this

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Speaker 2: is bad. You can't tell me they did this on purpose.

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Speaker 2: Of course they didn't. They've overcooked it, they've overcorrected, and

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Speaker 2: we're all paying the price. This recession is by the

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Speaker 2: way worse than COVID because remember back then, there was

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Speaker 2: all the wage subsidies and the generous handouts, which is

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Speaker 2: also ironically part of the reason that we're in this

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Speaker 2: mess in the first place. This time it's way worse

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Speaker 2: because it's jobs lost, its businesses going to the wall

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Speaker 2: in record numbers, and it's young Kiwi families fleeing across

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Speaker 2: the ditch, a mass migration to basically get the hell

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Speaker 2: out of Dodge. What's worse is they've downgraded quarter two growth.

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Speaker 2: So they did have that at negative point two, now

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Speaker 2: negative one point one. What all of this tells us

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Speaker 2: is two things. One, the Reserve Bank couldn't predict the

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Speaker 2: tides or a sunrise. They picked negative point two. How

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Speaker 2: out of touch are they with the real economy when

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Speaker 2: the actual number was a whole percentage point different. Number Two,

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Speaker 2: you can't have your cake and eat it too, can you.

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Speaker 2: The bigger the cake, the bigger the mess. That should

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Speaker 2: have been Labour's road safety campaign. The spending spree that

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Speaker 2: the last lot went on, aided and abtted by the

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Speaker 2: Reserve Bank led to the drastic over correction by the

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Speaker 2: very same bank, robbing us blind with some of the

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Speaker 2: world's highest and most prolonged mortgage interest rates to try

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Speaker 2: and undo the mess that they made in the first place.

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Speaker 2: These numbers also tell us I think that Nikola Willis

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Speaker 2: is probably on about the right path. Many were asking

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Speaker 2: after the Hafer results on Tuesday, myself included whether the

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Speaker 2: state of the state's books and the debt warranted harsher

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Speaker 2: cuts to the public service. But today we have seen

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Speaker 2: an ugly truth and cutting further into spending with numbers

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Speaker 2: like these, you risk a spiral equally to those wanting

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Speaker 2: gold plated hospitals and ferrari fairies. How much more evidence

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Speaker 2: do you need between Tuesday and today that now ain't

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Speaker 2: the right time. There's champagne dreams on a beer budget.

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Speaker 2: The upside to all of this, don't worry, there is

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Speaker 2: one is that this is backwards looking. Data rates are

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Speaker 2: coming down and this should be the trough of the cycle.

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Speaker 2: But let's make sure of that, can we before we

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Speaker 2: get all peggy with our government spending again. Rich Thon,

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Speaker 2: after four news talks, said be an eight year old

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Speaker 2: girl has been hospitalized after a dog attack at a

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Speaker 2: Northland beach. Second time there's been a dog attack at

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Speaker 2: type of beach in just two weeks. The other victim

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Speaker 2: a woman was left bleeding on the beach with puncture

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Speaker 2: wounds to her legs. Local residents are suggesting that people

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Speaker 2: should avoid the area or carry weapons while they're on

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Speaker 2: the beach. Michael Tapania is the Far North mayor. Cure

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Speaker 2: to Mickael, Hey, thanks, The thing with me is this

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Speaker 2: dog being put down yet?

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Speaker 3: Notes my understanding, it's been impounded and our stars has

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Speaker 3: to go through the proper process under the Dog's Controls

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Speaker 3: Act before whatever the next steps will happen. And it's

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Speaker 3: potentially the nation and in this case, I think it's

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Speaker 3: very likely.

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Speaker 2: What did the owner say? Do you know when they

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Speaker 2: found out what had happened.

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Speaker 3: No, I haven't had any like kind of on the

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Speaker 3: ground details other than just kind of a staff report

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Speaker 3: that's come through following us. So no, don't know. All

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Speaker 3: I know is it's absolutely terrible for our community, Absolutely

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Speaker 3: terrible for this poor young girl as well. And I'm

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Speaker 3: glad that she's been taken for treatment, that we've managed

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Speaker 3: to get this dog and then we'll deal with it

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Speaker 3: appropriately under the Dog Control It.

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Speaker 2: Yeah, Mom says she's doing okay, she's out of hospital. Now,

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Speaker 2: do you know what type of dog?

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Speaker 4: No?

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Speaker 3: I haven't even had that level of detail come through

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Speaker 3: or anything like that. But I mean we've had a

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Speaker 3: spate of these across the finals, right, and so anytime

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Speaker 3: anything like this happens, it's studied terrible. And we've got

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Speaker 3: a role to play, a regulatory role to play as

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Speaker 3: the final District Council with our animal management team and

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Speaker 3: making sure that we sort things out thankfully, right, because

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Speaker 3: we've just had another recent attack in the area here.

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Speaker 3: We actually had an animal management officer in Pipa actually

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Speaker 3: just doing a routine patrol who was able to respond

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Speaker 3: so quickly.

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Speaker 2: Right, Well, thank goodness for that. But the problem is

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Speaker 2: you can't have a dog control officer on every beach

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Speaker 2: at every time, right. So in the meantime, you've got

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Speaker 2: residents saying if you're going to come to type of beach,

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Speaker 2: well one they're going to many of them are avoiding

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Speaker 2: the area and if you are coming, bring a weapon.

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Speaker 5: Oh I know.

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Speaker 3: And see, this isn't a this isn't a dog problem.

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Speaker 3: This is a dog owner problem. If you have a

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Speaker 3: dog in the finals, you make sure that you're looking

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Speaker 3: after it properly and it can't get out. Yeah, but

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Speaker 3: they're not that you make sure it's registered.

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Speaker 2: Residents are saying the residents are saying dog owner owners.

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Speaker 2: This is one resident MERV Priestley told an all An

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Speaker 2: Advocate dog owners are so lax around here about dogs

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Speaker 2: having to be restrained. That's because even if you get

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Speaker 2: caught with your dog unrestrained, the worst thing that can

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Speaker 2: happen is the Dog Control comes around and has a

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Speaker 2: friendly chat.

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Speaker 3: I think you'll find that the Final District Council will

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Speaker 3: be using the full powers that we have under the

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Speaker 3: Dog Control Act to make sure that we get things

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Speaker 3: like this under control. Now, we only have twelve animal

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Speaker 3: Management officers for the Final District, which is over seven

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Speaker 3: two hundred square kilometers in area. But people of the

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Speaker 3: Finals and Manu Hitie call through our council hotline. Is

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Speaker 3: opening someone in the finals or answer your core twenty

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Speaker 3: four to seven hundred and nine to nine, and we

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Speaker 3: will have our animal management offices and in about throughout

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Speaker 3: the summer period to respond as best we can.

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Speaker 2: Yeah, that's fair enough. Is your advice to locals, to

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Speaker 2: tourists rather going to these beaches, take you know, bring

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Speaker 2: a weapon, bring some kind of protection.

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Speaker 3: On well, I mean, this could happen anywhere right now.

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Speaker 3: We've had a couple of incidents specifically here in Tayper

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Speaker 3: and doubtless Bay in our area. But I'm not going

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Speaker 3: to act any differently to the way that I usually do.

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Speaker 3: But that strong message out there is to anybody who

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Speaker 3: does own a dog, especially in this entire during the

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Speaker 3: holiday period there's a lot more people around now. You

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Speaker 3: make sure that you never forget to close your gat,

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Speaker 3: You make sure that you tie your dog up. If

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Speaker 3: you're tying it up, you make sure that you're looking

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Speaker 3: after it and everything like that. You just need to

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Speaker 3: have a little bit more restrictions in place on yourself,

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Speaker 3: keep yourself in check so that we can keep people

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Speaker 3: safe at the end of the day, because.

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Speaker 2: If not, the counsel might put your dog down.

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Speaker 3: Well, yeah, we are going to be following up everything

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Speaker 3: that comes through and making sure that dog owners are

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Speaker 3: how to account that they're not treating their animals appropriately

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Speaker 3: and keeping up others around them safe.

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Speaker 2: All right, Michael, thank you for that. That's Michael Tapania

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Speaker 2: the Far North Mea just gone fourteen after four. Is

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Speaker 2: there anything scarier than a big, frightening, menacing dog. You know,

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Speaker 2: sometimes you find yourself walking down the street and maybe

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Speaker 2: you come across these things. There is nothing more frightening.

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Speaker 2: I can remember being a kid and seeing that this

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Speaker 2: giant pit bull just roaming around and you you absolutely

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Speaker 2: pack yourself. And if they start running towards it, even

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Speaker 2: if they're not barking, it's a frightening thing to happen.

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Speaker 2: So to have them attacking people on beaches, this is

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Speaker 2: not a good thing. Nine two the number to text.

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Speaker 2: Just go on. Quarter past four. Darcy is next with

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Speaker 2: Sport who will take.

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Speaker 1: The White House results and analysis of the US election

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Speaker 1: on Heather Duplessy Alum Drive with one New Zealand Let's

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Speaker 1: get connected news talk Sai'd be Sport with a new

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Speaker 1: tab app downloaded today eighteen bed responsibly.

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Speaker 2: Seventeen after four. Somebody who is accusing me of scaremongering

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Speaker 2: about pit bulls. I'll come to that in a second.

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Speaker 2: Right now, Darcy is here with sports sports talk hosts. Hey, Darcy,

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Speaker 2: what did you say? I just said that when I

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Speaker 2: was a kid, I was alone on a street once

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Speaker 2: and there was a roaming pit bull that started running

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Speaker 2: towards me and I was frightened. Now, I'm not saying

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Speaker 2: all peoples are bad.

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Speaker 6: I understandable saying.

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Speaker 2: I packed myself because I saw one.

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Speaker 4: You know that sounds it's not that's not scare technics.

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Speaker 2: Terrible, but what's happening up north is quite scary, and

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Speaker 2: so we will get some of those texts.

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Speaker 4: Worry about sport. Hey, if you want to push a

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Speaker 4: bet through this weekend, you know, habitually or just as

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Speaker 4: you don't beat more than you can afford to lose.

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Speaker 4: It's the main thing. So you know, if you're a billionaire,

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Speaker 4: knock yourself out. But if you like me five bucks,

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Speaker 4: it's a bit like it's R eighteen. You've got a

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Speaker 4: bet responsibly. Here's my one for this with Fridays tomorrow night.

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Speaker 4: So the Breakers are on a backward tear. They're terrible.

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Speaker 4: They've lost six on the bounce. Okay, they've played a

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Speaker 4: lot of these games home games that are away from home.

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Speaker 4: Warnings in Christ DUTs to be over the ditch. In Australia,

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Speaker 4: this has to turn because basketball is a game of runs.

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Speaker 4: Basketball is a series of runs. They're taking on the

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Speaker 4: Sydney Kings. It is back at Spark Arena where they

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Speaker 4: love it. They've got to turn around eventually, and they

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Speaker 4: are paying three dollars fifty to beat the Sydney Kings

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Speaker 4: who beat them a couple of weeks back. But you

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Speaker 4: think with this one it's got to turn. Eventually they're

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Speaker 4: at home, pucker falls finally falling into place. So there

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Speaker 4: it is, bit responsibly ra eighteen three dollars fifty. The

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Speaker 4: break is to beat the Kings.

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Speaker 2: Brilliant. Liam Lawson's getting a whole lot of flack on well,

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Speaker 2: and I suppose this is just social media.

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Speaker 1: Isn't it?

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Speaker 2: But sujio parize is gone and it looks like Liam's inn.

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Speaker 4: Well, I believe it is everything. I hear the closer

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Speaker 4: and closer I yet the more and more the noise

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Speaker 4: is coming. Because there's some very valid reasons why.

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Speaker 7: They won't give it to Yuki Sonoda.

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Speaker 4: They got rid of Peris because he's driving terribly. He's

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Speaker 4: cost them twenty million dollars in prize money this year

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Speaker 4: for Red Bull. He's finally exited stage left. Yuki Sonoda,

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Speaker 4: Liam Lawson. They are the two names. Yuki Sonoda has

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Speaker 4: got one year left on his contract with Honda Engines,

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Speaker 4: who power Red Bull, and then in twenty twenty six

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Speaker 4: he'll be moving to Aston Martin, who have the Honda

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Speaker 4: engine supply for that year. They've also taken a guy

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Speaker 4: called Adrian Newey from red Bull, who's the best designer

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Speaker 4: to ever walk the earth. So I'm looking at this here.

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Speaker 4: Are red Bull really going to give their number one

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Speaker 4: seat with Max step and to a guy who's leaving

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Speaker 4: in a year, going to the opposition and joining up

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Speaker 4: with someone who left Redball last year? There's no way

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Speaker 4: for me that just comes together and seyes, Liam, You've

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Speaker 4: got the job.

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Speaker 2: But he's got haters, doesn't He is that because he's

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Speaker 2: been quite outspoken in the media and in the last

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Speaker 2: couple of months about you know, I want this, I

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Speaker 2: want that, and if you and I that's or that.

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Speaker 4: I don't think you said if you and F that.

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Speaker 4: He did that one thing and there's a bit of

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Speaker 4: a blot. But the thing is he's a really really

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Speaker 4: competitive racer. I've watched him race for a long long time.

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Speaker 4: Elbows out. People say, you've got no respect for the

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Speaker 4: older races. No respecting the older racers is beating them

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Speaker 4: into the ground.

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Speaker 8: Respect them.

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Speaker 2: Formula one is by winning sports some mona help is

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Speaker 2: going to play a spe Classic.

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Speaker 4: Yeah, super good for the i SP Classic. It's a

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Speaker 4: tidy little draw they've got going there gets under the

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Speaker 4: way first week of the of the new year. I'm

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Speaker 4: going to go and intend a session because it's always

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Speaker 4: a nice thing to do in a wide brimmed hat

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Speaker 4: and thoms. But she's a what I don't know about.

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Speaker 4: You might go to the high falutin things, being you know,

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Speaker 4: former TV sober, they'll probably take you there, But I just.

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Speaker 8: Go to the gym.

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Speaker 2: May I may have been invited to not me tell

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Speaker 2: you what. The only problem with the ASP Classic is

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Speaker 2: the sun absolutely blinds you. It's a killer and you

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Speaker 2: come home read as a as a lobster.

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Speaker 4: I'll give you the being a new Cylander, you probably

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Speaker 4: should have worked out try your hat and sunscreen.

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Speaker 2: But even if you're on, if you do that and

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Speaker 2: you're there long enough, I've never come away not burn,

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Speaker 2: no matter how hard I try. Anyway, there's a small.

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Speaker 4: Problem, okay, two time Grand Slam champion that Simona Hallips.

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Speaker 4: She's been away fifteen months. He's back and she'd be

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Speaker 4: given a wild card. So that's super good news for

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Speaker 4: the draw.

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Speaker 2: Brilliant Darcy. Look forward to seeing you tonight, Darcy Watergrave with

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Speaker 2: us to.

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Speaker 4: Slap slap, you know you've seen it's.

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Speaker 2: Not young twenty two minutes after forward News talks.

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Speaker 1: He'd be on your smart speaker, on the iHeart app

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Speaker 1: and in your car on your drive home. It's gryand

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Speaker 1: Bridge on Heather Duper c Allen Drave with one New

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Speaker 1: Zealand let's get connected and news talk because they'd.

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Speaker 2: Be twenty four after four. The type of beach up north,

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Speaker 2: there's been a couple of dog attacks and locals there

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Speaker 2: say bring a weapon to the beach. This summer, Ryan,

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Speaker 2: my partner got attacked by the exact same dogs that

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Speaker 2: were reported last week, huge bites. If it was a

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Speaker 2: child or an elderly person, they would be severely hurt.

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Speaker 2: Minimal follow up. Once this was reported, which happened two

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Speaker 2: to three months ago, many of the locals said it

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Speaker 2: had happened before. I find it very hard to believe

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Speaker 2: when the mayor says there have only been a couple

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Speaker 2: of incidents. Yeah, I find it hard to believe as well.

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Speaker 2: And I think that people just don't really care. Really

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Speaker 2: when your dog control person comes around and has a

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Speaker 2: cup of tea and says keep the gate clothes, people

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Speaker 2: just turn a blind eye and the next thing that's

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Speaker 2: happening all again, because you read about it in the

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Speaker 2: news all the time, don't you know. Twenty five minutes

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Speaker 2: after four. The French they love the finer things in life,

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Speaker 2: don't they. They love fashion, they love clothing, and they

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Speaker 2: love jewelry. And Nicholas Sarkozy has got himself a new bracelet.

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Speaker 2: The former French president. He was done for corruption and

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Speaker 2: influenced peer and he's now for the final year of

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Speaker 2: his sentence being given a electronic monitoring bracelet, so not

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Speaker 2: a nice one. He's gone to the highest appeals court

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Speaker 2: and they have confirmed his verdict. This is all to

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Speaker 2: do with he basically bribed a judge and was peddling

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Speaker 2: influence when he was being investigated for corruption charges over

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Speaker 2: his financing of his campaign. He's sixty nine years old,

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Speaker 2: still looks quite good, Nicholas Psarcosey. He's always had a

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Speaker 2: really good You'd notice two things about him. One is

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Speaker 2: a great tan all the time. Number two, full head

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Speaker 2: of hair and he's still got it. I looked at

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Speaker 2: the photo of him today and he's going on seventy.

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Speaker 2: I think looks fantastic with his new bracelet and everything. Anyway,

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Speaker 2: he's actually lucky to have avoided prison. So he was

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Speaker 2: meant to go to prison for three years. The first

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Speaker 2: two years were suspended and this bracelet will get him

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Speaker 2: off the third. So there you go. Twenty six minutes

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Speaker 2: after four, News Talk said be coming up after five

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Speaker 2: we're ans asking the question, if not Witanging, then we

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Speaker 2: here will Christopher lux And go Come February sixth next

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Speaker 2: year because he's not going to White Haanging. We're gonna

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Speaker 2: talk to the White Tangy National Trust chairman about how

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Speaker 2: he found out and where he reckons. The PM is

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Speaker 2: going to be hitting.

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Speaker 6: Is that sweet?

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Speaker 2: Like miss.

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Speaker 1: Ryan Bridge cutting through the noise to get the facts.

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Speaker 1: It's Ryan Bridge on hither do for see allan drive

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Speaker 1: with one New Zealand. Let's get connected and news Talk

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Speaker 1: s B.

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Speaker 2: Good afternoon New Zealand. Twenty five away from five year

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Speaker 2: on News Talk to said B. This is a statement

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Speaker 2: for the Prime Minister's office on why he's not attending

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Speaker 2: White Tangy this year and next year. I should say

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Speaker 2: the government will have senior reps there, but the Prime

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Speaker 2: Minister Christopher Luxen has chosen to take part in celebrations elsewhere.

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Speaker 2: He says, it has always been my intention to celebrate

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Speaker 2: White Tangy Day around the country with different ewe. I've

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Speaker 2: been in Witangi the last two years, et cetera, et cetera.

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Speaker 2: Details of where he's going, we don't know yet. They're

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Speaker 2: going to tell us closer to the time. Interestingly, we've

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Speaker 2: got Stephen Joyce on the program after five about the economy,

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Speaker 2: the fact we're in a recession, quite a bad one

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Speaker 2: by the way. In fact, this recession feels quite like

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Speaker 2: adildo to the face.

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Speaker 1: It's the World Wires on news dog z edb Drive.

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Speaker 2: The leader of Syria's victorious rebels, says he's left as

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Speaker 2: g Hardy passed behind. Aman al Sharra has done a

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Speaker 2: sit down interview with the BBC. He says the new

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Speaker 2: regime will respect all Syria's religious and ethnic groups, and

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Speaker 2: it will safeguard women's rights to education.

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Speaker 1: We've had universities for more than eight years.

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Speaker 9: I think the percentage of women in universities is more

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Speaker 9: than sixty percent.

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Speaker 2: However, he hasn't ruled out harsh restrictions on alcohol.

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Speaker 10: There are many things I just don't have the right

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Speaker 10: to talk about because they are legal issues.

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Speaker 11: There will be a Syrian committee of legal experts to

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Speaker 11: write a constitution.

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Speaker 1: They will decide.

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Speaker 2: The Australian Foreign Minister, Penny Wong has had a bit

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Speaker 2: of a tip with her Israeli counterpart. Israeli media reporting

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Speaker 2: that the two foreign ministers have had a heated phone

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Speaker 2: called Pennieses. She simply articulated Australia's position.

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Speaker 12: Australia, alongside the United Kingdom, Canada, New Zealand, Japan and

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Speaker 12: many other countries, have been calling for a CEA SPA,

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Speaker 12: for the release of hostages and for the provision of

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Speaker 12: aid into Gaza. That is the position where we have

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Speaker 12: been articulating, and that's the position that I reflected to

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Speaker 12: the Israeli Foreign Minister.

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Speaker 2: I don't think she could ever sound heated, to be

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Speaker 2: honest with you. Also, finally, this afternoon.

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Speaker 11: I always call it sometimes they so huge.

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Speaker 2: Lawmakers in Missouri are planning to name several new roads

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Speaker 2: after US President elect Donald Trump. One state senator wants

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Speaker 2: to call a portion of a road west of Saint

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Speaker 2: Louis the President Donald J. Trump Highway. Another state senator

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Speaker 2: is planning to be a similar moniker on almost every

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Speaker 2: unnamed highway in the state. Maybe our government could do

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Speaker 2: something similar and renamed PenLink Luxlink or the Simeon Speedway

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Speaker 2: or insert your pun or joke here.

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Speaker 1: I think international correspondence with ensit Eye insurance, peace of

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Speaker 1: mind for New Zealand business.

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Speaker 2: I think I'll refrain from doing that and leave the

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Speaker 2: jokes to you, right Murray Olds is with US Australia correspondent. Murray,

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Speaker 2: Welcome to the show. Bushfire in Victoria. This is spreading

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Speaker 2: pretty fast.

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Speaker 13: Oh sure is, Ryan, You're very good afternoon. I think

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Speaker 13: I'm right in saying it's the first major bushfire of

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Speaker 13: the summer over here, burning in the Grampians National Park,

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Speaker 13: glorious part of the world for those who know it,

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Speaker 13: at northwestern Melbourne a couple of hours away, started by

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Speaker 13: lightning strikes. Now early yesterday morning, so what we're talking

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Speaker 13: Eighteen hours ago authorities were saying seven o'clock on Wednesday morning,

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Speaker 13: five hundred hectares have been burned out. It's now over

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Speaker 13: five and a half thousand and seems to be growing

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Speaker 13: by the minute. It's out of control, hot, dry and

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Speaker 13: windy conditions and firefighters are heading there from other parts

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Speaker 13: of Victoria. Also talk of getting them from interstate. Nearly

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Speaker 13: fifty properties were destroyed in the same region February this year.

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Speaker 13: Locals hope it won't happen again, but it's not looking

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Speaker 13: that flash for the weekend ryan more hot, dry and

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Speaker 13: windy conditions forecast and borrow and across.

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Speaker 14: Saturday and Sunday in the run up to Christmas.

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Speaker 2: How's your dollar and the market looking after the fidness

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Speaker 2: great decision they've cast it.

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Speaker 13: Suffice to say, I'm glad I'm not holidaying in the

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Speaker 13: United States this Christmas. Goodness me. It's the Australian dollars

395
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Speaker 13: at are two year low against the US currency sixty

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Speaker 13: two and a quarter US since right now. The last

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Speaker 13: time I remember paying any attention was about sixty six

398
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Speaker 13: cents so and that was only a week or so ago,

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Speaker 13: so it's lost an awful lot of value. Plus the

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Speaker 13: Australian share markers ben hammert as Well lost nearly two.

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Speaker 14: Percent of lunchtime today.

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Speaker 13: The big mining companies like BHP four to Skew, Rio

403
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Speaker 13: Tinto or got blasted.

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00:20:17,320 --> 00:20:19,280
Speaker 14: So to the big banks, The A and Z lost

405
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Speaker 14: nearly three percent, the.

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Speaker 13: Commonwealth Bank in Westpac down two point three nab two

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Speaker 13: point one and why, as you say, the markets have

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Speaker 13: factored in just two cuts to the official US interest rates.

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Speaker 13: Next year they were tipping four So I mean, smarter

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Speaker 13: minds that mine might have to work this stuff out.

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Speaker 14: But suffice to say there's a lot of unhappiness there.

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Speaker 13: Only got a cut rates twice and not four times,

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Speaker 13: which is why the poor ol Australian South Pacific PESO

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Speaker 13: is getting smashed.

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Speaker 2: Hey what about speaking of getting smashed, someone is in

416
00:20:52,520 --> 00:20:57,160
Speaker 2: trouble for mimicking or ripping off Raygun. What's going on?

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Speaker 13: Well, Rachel ray Gun Gun. Of course, Australia's infamous or famous.

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Speaker 13: You know, I thought, look, Raygun made the Olympic team

419
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Speaker 13: and ninety nine point nine nine nine percent of us

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Speaker 13: will never do that, So four marks to her for

421
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Speaker 13: doing that.

422
00:21:12,840 --> 00:21:15,119
Speaker 14: But boy, her voice, he's made a bit of a

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Speaker 14: mess of thing. Since then, there's a stand up comedian

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Speaker 14: in Sydney.

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Speaker 13: I must say I'm not familiar with the work of

426
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Speaker 13: Steph Broadbridge, but she came out and said she was

427
00:21:23,800 --> 00:21:26,840
Speaker 13: going to produce ray Gun the Musical and do a

428
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Speaker 13: few moves at a stand up comedy club in Sydney.

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Speaker 13: Pull a few moves out of the Raygun handbook and

430
00:21:32,840 --> 00:21:36,760
Speaker 13: put this on stage with music. Well, Raygun's lawyers and

431
00:21:36,800 --> 00:21:42,040
Speaker 13: Reagun herself apparently not very happy. They sent a cease

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00:21:42,080 --> 00:21:45,200
Speaker 13: and desisted letter to the owner of the nightclub. They

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00:21:45,240 --> 00:21:50,000
Speaker 13: wanted to charge the owner ten thousand dollars for sanctioning

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00:21:50,080 --> 00:21:52,760
Speaker 13: a musical that would copy some of her Olympic moves

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Speaker 13: in Paris. Reagun's lawyers said, listen, the proposed sketch would

436
00:21:57,000 --> 00:22:00,800
Speaker 13: infringe her intellectual property. The owners came, I said, well, listen,

437
00:22:00,800 --> 00:22:02,879
Speaker 13: we've sold fifty tickets. We'll give you a five minutured

438
00:22:02,920 --> 00:22:06,200
Speaker 13: bucks and you can bug her off. Steph Broadbridge, the comedian,

439
00:22:06,320 --> 00:22:10,400
Speaker 13: said that the lawyers were very worried about damaging ray

440
00:22:10,440 --> 00:22:13,880
Speaker 13: Gun's brand, and then Steph says, well, look, she doesn't

441
00:22:13,920 --> 00:22:16,720
Speaker 13: really need me to do that. So at this stage

442
00:22:16,800 --> 00:22:19,840
Speaker 13: it's lawyers at twenty paces. They want ten k. The

443
00:22:20,160 --> 00:22:23,200
Speaker 13: nightclub owners offered five hundred and poor old ray Guns

444
00:22:23,200 --> 00:22:26,280
Speaker 13: getting smashed on social media.

445
00:22:26,400 --> 00:22:28,600
Speaker 2: As you say, I think she did enough to damage

446
00:22:28,600 --> 00:22:30,280
Speaker 2: to her own brand. Murray Murray, thank you for that.

447
00:22:30,359 --> 00:22:33,520
Speaker 2: Mariold's Australia correspondent just gone nineteen away from five.

448
00:22:33,320 --> 00:22:35,400
Speaker 1: Newstok's he'd b Ryan Bridge.

449
00:22:35,480 --> 00:22:36,880
Speaker 2: So just to bring you up to date with that

450
00:22:36,920 --> 00:22:39,000
Speaker 2: FED cut. So they've cut a quarter of a percent,

451
00:22:39,000 --> 00:22:42,120
Speaker 2: they've cut twenty five basis points. And this is despite

452
00:22:42,800 --> 00:22:45,040
Speaker 2: what you would have to say is quite stubborn inflation.

453
00:22:46,320 --> 00:22:48,360
Speaker 2: It has been coming down, but over the past few

454
00:22:48,400 --> 00:22:51,600
Speaker 2: months it's ticked back up a little bit and they're

455
00:22:51,600 --> 00:22:53,879
Speaker 2: a bit faster and looser over there than than Adrian

456
00:22:54,040 --> 00:22:56,560
Speaker 2: or would be here. Markets have taken a hit because

457
00:22:56,600 --> 00:22:59,000
Speaker 2: of this. The S and P five hundreds down three percent.

458
00:22:59,160 --> 00:23:02,520
Speaker 2: Why well, it's not because they're cutting, because that's obviously

459
00:23:02,520 --> 00:23:05,119
Speaker 2: a good thing for markets, but it's because they're forecasting,

460
00:23:05,160 --> 00:23:08,560
Speaker 2: as Murray alluded to fewer rate cuts in twenty twenty five,

461
00:23:08,920 --> 00:23:12,320
Speaker 2: so they're basically slowing the cutting cycle, and that means

462
00:23:12,359 --> 00:23:17,440
Speaker 2: that people get nervous about spending. They needn't though they're spending.

463
00:23:17,440 --> 00:23:20,320
Speaker 2: Their consumer has held up pretty well through the whole thing,

464
00:23:20,400 --> 00:23:23,760
Speaker 2: and unlike us, they've avoided recession too. Eighteen to five

465
00:23:24,200 --> 00:23:27,439
Speaker 2: politics with centrics credit check your customers and get payment

466
00:23:27,520 --> 00:23:31,679
Speaker 2: certainty just gone quarter to five newstalks they b Barry Sophet, Hey, Barry,

467
00:23:31,840 --> 00:23:33,719
Speaker 2: this recession is really bad.

468
00:23:34,000 --> 00:23:35,119
Speaker 8: It's dreadful.

469
00:23:35,160 --> 00:23:38,320
Speaker 11: Actually, as you pointed out a new introduction, Ryan, it's

470
00:23:38,359 --> 00:23:40,480
Speaker 11: the worst since nineteen ninety one. That's a hell of

471
00:23:40,480 --> 00:23:44,040
Speaker 11: a long time ago. And it was engineered, of course,

472
00:23:44,080 --> 00:23:47,280
Speaker 11: initially by the Reserve Bank and Adrian Or quite openly.

473
00:23:47,760 --> 00:23:50,159
Speaker 11: I think he's done a better job than even he would.

474
00:23:49,880 --> 00:23:53,640
Speaker 2: Have ever thought, and he performed his KPIs well, that's right.

475
00:23:54,080 --> 00:23:56,960
Speaker 11: But the thing is when you consider Adrian Or being

476
00:23:57,000 --> 00:23:59,800
Speaker 11: the Governor of the Reserve Bank, he was appointed against

477
00:23:59,840 --> 00:24:02,920
Speaker 11: all advice by Grant robertson and March last year, which

478
00:24:02,960 --> 00:24:07,000
Speaker 11: means his contract now runs until March twenty twenty eight,

479
00:24:07,280 --> 00:24:09,000
Speaker 11: so he's going to be around quite a long time.

480
00:24:08,920 --> 00:24:11,000
Speaker 2: Which is hard because you've got the guy who took

481
00:24:11,040 --> 00:24:14,080
Speaker 2: it too far in one direction now over correcting the

482
00:24:14,160 --> 00:24:16,320
Speaker 2: other way totally. It's not a situation.

483
00:24:16,440 --> 00:24:20,399
Speaker 11: Well, you know, on Tuesday, Treasury was increased its forecast

484
00:24:21,000 --> 00:24:24,359
Speaker 11: bond insurance program by they said would be sixteen percent.

485
00:24:24,640 --> 00:24:28,639
Speaker 11: On today they're saying they'll have to issue one hundred

486
00:24:28,680 --> 00:24:32,560
Speaker 11: and forty six billion bucks worth of bond, which is

487
00:24:32,640 --> 00:24:35,400
Speaker 11: essentially debt, in the next four years.

488
00:24:35,720 --> 00:24:35,880
Speaker 14: Now.

489
00:24:35,920 --> 00:24:36,680
Speaker 8: The cost of.

490
00:24:36,600 --> 00:24:39,960
Speaker 11: That debt, which is incredible really it'll grow and this

491
00:24:40,080 --> 00:24:44,000
Speaker 11: is the annual cost. Year on year, they'll hit twelve

492
00:24:44,320 --> 00:24:49,240
Speaker 11: billion dollars in the year that Adrian or has step down.

493
00:24:49,880 --> 00:24:52,159
Speaker 2: It's because we're issuing so much all at once in

494
00:24:52,200 --> 00:24:55,080
Speaker 2: the space of four years. The price comes comes down,

495
00:24:55,080 --> 00:24:59,919
Speaker 2: the yields go up, we pay more. Yeah, absolutely, let's go.

496
00:25:00,080 --> 00:25:02,560
Speaker 2: Luxeen's going to not going to White Tangy next year,

497
00:25:02,600 --> 00:25:03,440
Speaker 2: haven't we surprised?

498
00:25:03,720 --> 00:25:05,679
Speaker 11: No, not at all. And I mean you saw the

499
00:25:05,800 --> 00:25:10,080
Speaker 11: reception that the government gets there, and you know, what's

500
00:25:10,119 --> 00:25:11,880
Speaker 11: the point of him being there? You'd have to ask

501
00:25:11,920 --> 00:25:14,520
Speaker 11: the question. He said, he talked to the White Tonguey

502
00:25:14,880 --> 00:25:20,440
Speaker 11: chair today but he got a pay obviously pully poor

503
00:25:20,520 --> 00:25:23,520
Speaker 11: reception from them because they expected him to be there.

504
00:25:24,000 --> 00:25:27,239
Speaker 11: But in the statement that he wasn't going to go,

505
00:25:27,760 --> 00:25:31,439
Speaker 11: he included, you will have seen the moves that have

506
00:25:31,600 --> 00:25:35,199
Speaker 11: made format over the past year, and that's one of

507
00:25:35,240 --> 00:25:39,920
Speaker 11: them is they've advanced eight treaty settlements. Now National has

508
00:25:40,240 --> 00:25:43,800
Speaker 11: always done much more on the treaty settlement front than

509
00:25:43,880 --> 00:25:44,720
Speaker 11: Labor ever did.

510
00:25:45,600 --> 00:25:50,920
Speaker 2: Hey, we'll finish on Actually Bill English didn't go and

511
00:25:51,040 --> 00:25:53,320
Speaker 2: a number of Prime minist Telling Clark and John Key

512
00:25:53,320 --> 00:25:55,800
Speaker 2: both skipped the Loeham and I the t because that's

513
00:25:55,800 --> 00:25:59,600
Speaker 2: where it all kicks off. Is actually the day before anyway,

514
00:25:59,600 --> 00:26:02,520
Speaker 2: Peter has attacked to party, Mary and the House. This

515
00:26:02,560 --> 00:26:04,160
Speaker 2: is during the German debat yesterday.

516
00:26:04,160 --> 00:26:06,080
Speaker 11: Well it was incredible really, I went back now to

517
00:26:06,080 --> 00:26:10,480
Speaker 11: listen today. The of course, the all sorts of allegations

518
00:26:10,480 --> 00:26:15,080
Speaker 11: are being fired at the manual Era Marai and that

519
00:26:15,280 --> 00:26:18,240
Speaker 11: was the home of one of the well the chief

520
00:26:18,280 --> 00:26:22,359
Speaker 11: executive was the candidate for the Malori party that became successful.

521
00:26:22,400 --> 00:26:26,560
Speaker 11: Now the results of investigations about data from the census

522
00:26:26,600 --> 00:26:29,879
Speaker 11: being used to shore up their vote. The results of

523
00:26:29,920 --> 00:26:32,960
Speaker 11: those investigations will be known next year. The allegations have

524
00:26:33,080 --> 00:26:36,520
Speaker 11: been vehemently denied by the Maori Party and its chairman

525
00:26:36,600 --> 00:26:40,560
Speaker 11: John Temmihady, who Winston Peters certainly attacked in parliament.

526
00:26:40,880 --> 00:26:42,520
Speaker 15: And you know why he doesn't practice law. He got

527
00:26:42,600 --> 00:26:46,320
Speaker 15: convicted of committing forging and unvering and he was told

528
00:26:46,640 --> 00:26:49,640
Speaker 15: you'll get off, but don't ever apply for a license

529
00:26:49,680 --> 00:26:52,840
Speaker 15: to practice law. People don't know that you're here for

530
00:26:52,840 --> 00:26:55,639
Speaker 15: the first time. What Judith Collins knows and I know,

531
00:26:56,000 --> 00:26:58,359
Speaker 15: but you tell your leader when you declare war on

532
00:26:58,400 --> 00:27:02,040
Speaker 15: a pony callers general. First, gonna be repercussions. The standards

533
00:27:02,040 --> 00:27:06,600
Speaker 15: of this Parliament have been dramatically deteriorated. Pictausal to Barty Maray.

534
00:27:06,880 --> 00:27:10,359
Speaker 15: They come in there sometimes bare feet, no respect for

535
00:27:10,440 --> 00:27:14,119
Speaker 15: the institutions. I've been over Caesar hundred and told days,

536
00:27:14,280 --> 00:27:17,440
Speaker 15: but I've spent more than Parliament than all those party.

537
00:27:17,160 --> 00:27:18,040
Speaker 16: Maray altered together.

538
00:27:18,720 --> 00:27:22,880
Speaker 15: What a displace, lazy idle, don't even turn up for Parliament,

539
00:27:23,000 --> 00:27:26,480
Speaker 15: don't even secumenties, don't even do their jobs properly, and

540
00:27:26,520 --> 00:27:27,560
Speaker 15: they're getting away with them.

541
00:27:28,040 --> 00:27:28,280
Speaker 8: Yeah.

542
00:27:28,359 --> 00:27:32,320
Speaker 11: Well, the next speaker was interesting in the co leader

543
00:27:32,320 --> 00:27:35,760
Speaker 11: of the Mali parter party Rivalry White at Tea. This

544
00:27:35,800 --> 00:27:36,840
Speaker 11: is his reply this.

545
00:27:36,960 --> 00:27:38,720
Speaker 8: House, Liza bit of first of chill.

546
00:27:39,000 --> 00:27:40,320
Speaker 5: Okay, missus speaker.

547
00:27:40,119 --> 00:27:42,840
Speaker 16: It's long been established and this debate that this is

548
00:27:42,840 --> 00:27:43,960
Speaker 16: what we could expect.

549
00:27:46,119 --> 00:27:46,760
Speaker 14: It'd be good.

550
00:27:48,280 --> 00:27:56,720
Speaker 5: Okay, are you listening on your fenure tooth?

551
00:27:56,880 --> 00:27:59,080
Speaker 7: Is listening a.

552
00:27:59,240 --> 00:28:06,800
Speaker 5: Terrrible lid right? My ching on stolen moldy lay this

553
00:28:07,080 --> 00:28:11,760
Speaker 5: year ain't been pretty toy two.

554
00:28:13,160 --> 00:28:13,840
Speaker 16: Td T.

555
00:28:15,400 --> 00:28:16,600
Speaker 5: Three headed goose.

556
00:28:17,240 --> 00:28:18,520
Speaker 2: But we know the truth.

557
00:28:19,320 --> 00:28:25,880
Speaker 5: My ching on stolen mody lay, I'll tell you what

558
00:28:26,160 --> 00:28:28,040
Speaker 5: he's not bad.

559
00:28:28,160 --> 00:28:29,160
Speaker 8: Quite a catchy tune.

560
00:28:29,160 --> 00:28:31,280
Speaker 11: And it went on longer.

561
00:28:31,480 --> 00:28:33,560
Speaker 2: Greatly Agin babies. It's always a bit of a laugh,

562
00:28:33,600 --> 00:28:35,800
Speaker 2: isn't it. I actually thought the funniest speaker, not that

563
00:28:35,920 --> 00:28:38,120
Speaker 2: they were his jokes, because someone else would have written them,

564
00:28:38,160 --> 00:28:41,560
Speaker 2: but was Luxe. And I know he's looked at the

565
00:28:41,560 --> 00:28:44,480
Speaker 2: Green Party said I'd like to acknowledge the Greens and

566
00:28:44,520 --> 00:28:46,400
Speaker 2: then he looked at and he said, Juliane, no need

567
00:28:46,440 --> 00:28:52,480
Speaker 2: to get up, look on, I'll tell you lux.

568
00:28:52,360 --> 00:28:54,560
Speaker 11: It was in good form. And he was at the

569
00:28:54,560 --> 00:28:57,880
Speaker 11: Gallery party last night. Oh yeah, Wellington, who was? He

570
00:28:57,920 --> 00:29:01,400
Speaker 11: stayed on quite long, you know, for a man, a

571
00:29:01,440 --> 00:29:03,280
Speaker 11: non drinker, he did pretty well there.

572
00:29:03,320 --> 00:29:04,960
Speaker 2: Listen, did anyone embarrass themselves?

573
00:29:05,000 --> 00:29:08,400
Speaker 11: No, nobody us embarrasses themselves at gallery parties other than

574
00:29:08,440 --> 00:29:11,840
Speaker 11: Tory Finale, which used to work for the Greens.

575
00:29:13,000 --> 00:29:15,960
Speaker 2: Very sofa, thanks so much. It's nine away from five

576
00:29:16,040 --> 00:29:18,880
Speaker 2: news talks. There'd been Stephen Joyce on the economy after five.

577
00:29:19,560 --> 00:29:23,520
Speaker 1: Putting the tough questions to the newspeakers, some mic asking breakfast.

578
00:29:23,760 --> 00:29:25,920
Speaker 17: So as always, there have been winners and there have

579
00:29:26,000 --> 00:29:28,040
Speaker 17: been losers. In the last round of high performance sport

580
00:29:28,080 --> 00:29:30,400
Speaker 17: funding and the lead up to Lay's Olympics, one hundred

581
00:29:30,400 --> 00:29:32,720
Speaker 17: and sixty three million dollars is heading to thirty six

582
00:29:32,760 --> 00:29:35,560
Speaker 17: different sports high performance sport in New Zealand. Director Steve Choose

583
00:29:35,600 --> 00:29:37,600
Speaker 17: with us, tell me why you're not funding hockey.

584
00:29:37,760 --> 00:29:39,880
Speaker 18: We are funding hockey, So to be clear, they're stall

585
00:29:39,960 --> 00:29:42,800
Speaker 18: a decent dunk and the end government money hind hockey.

586
00:29:42,800 --> 00:29:44,720
Speaker 19: But it's a significant drop a week about.

587
00:29:44,560 --> 00:29:47,600
Speaker 18: That, yeah, about that speaking, it's a difficult it's a

588
00:29:47,640 --> 00:29:50,000
Speaker 18: very difficult decision for hockey. But over a long period

589
00:29:50,000 --> 00:29:51,960
Speaker 18: of time we hadn't had a success that avestment is

590
00:29:52,000 --> 00:29:53,760
Speaker 18: seeking and we had to make some tough calls because

591
00:29:53,760 --> 00:29:56,040
Speaker 18: we had requests for about fifty seven minion and we

592
00:29:56,040 --> 00:29:58,560
Speaker 18: had best of forty just another forty one million to distribute.

593
00:29:58,720 --> 00:30:01,440
Speaker 1: Hither dupe for Sea Ellen on the my asking Breakfast

594
00:30:01,640 --> 00:30:04,320
Speaker 1: back to morrow at six am with the Jaguar f

595
00:30:04,400 --> 00:30:06,240
Speaker 1: base on Newstalks.

596
00:30:05,640 --> 00:30:09,000
Speaker 2: Dead b right. It has just gone six away from

597
00:30:09,200 --> 00:30:11,800
Speaker 2: five on News Talks dB coming up after five thirty.

598
00:30:11,880 --> 00:30:16,440
Speaker 2: The government is in noble intentions. They're trying to encourage

599
00:30:16,480 --> 00:30:19,440
Speaker 2: free speech at our universities, but in doing so telling

600
00:30:19,480 --> 00:30:21,959
Speaker 2: the universities what they can and can't say. Is that

601
00:30:22,040 --> 00:30:23,600
Speaker 2: not a little bit odd to you? We'll talk to

602
00:30:23,640 --> 00:30:26,680
Speaker 2: Penny Simmons about that after five point thirty. Also today

603
00:30:26,880 --> 00:30:29,080
Speaker 2: in the news, you would of course have seen that

604
00:30:29,160 --> 00:30:31,720
Speaker 2: our Defense Force has had a bit of problem, a

605
00:30:31,760 --> 00:30:34,280
Speaker 2: bit of a problem getting to Vanuatu and there was

606
00:30:34,400 --> 00:30:36,040
Speaker 2: an issue with one of the planes and there was

607
00:30:36,040 --> 00:30:37,960
Speaker 2: a light that went off and it was a safety issue,

608
00:30:37,960 --> 00:30:40,480
Speaker 2: so they had to divert to Numia and another plane

609
00:30:40,480 --> 00:30:42,360
Speaker 2: has had to come and pick them up. So that

610
00:30:42,480 --> 00:30:46,000
Speaker 2: is a problem, yes, But Penny Henade, who's the defense

611
00:30:46,040 --> 00:30:49,440
Speaker 2: spokesperson for the Labor Party, he's come out today and

612
00:30:49,680 --> 00:30:53,000
Speaker 2: criticized the Defense Force. Well, he's criticized the state of

613
00:30:53,040 --> 00:30:57,960
Speaker 2: our defense force, saying it's quote embarrassing. Now, it's one

614
00:30:58,080 --> 00:31:01,040
Speaker 2: thing I reckon to criticize, you know, when Luxon goes

615
00:31:01,080 --> 00:31:03,720
Speaker 2: away on his trips or just sind a doom trips

616
00:31:03,720 --> 00:31:06,320
Speaker 2: and the planes breakdown. It's one thing to criticize the planes.

617
00:31:06,360 --> 00:31:08,880
Speaker 2: Then when it's just a Prime ministerial delegation going to

618
00:31:08,920 --> 00:31:14,000
Speaker 2: Taiwan or whatever. But to criticize the Defense Force while

619
00:31:14,080 --> 00:31:19,000
Speaker 2: they are being deployed to a rescue situation where people

620
00:31:19,080 --> 00:31:22,000
Speaker 2: have died, I think is a little on the nose

621
00:31:22,440 --> 00:31:26,240
Speaker 2: from Penny Henade. Anyway, we asked the Penni Henade to

622
00:31:26,240 --> 00:31:30,040
Speaker 2: come on the program today. Not going to happen, which

623
00:31:30,080 --> 00:31:32,920
Speaker 2: is for him, I think a little embarrassing. Five to

624
00:31:33,000 --> 00:31:37,200
Speaker 2: five now before we get to the news at five,

625
00:31:37,480 --> 00:31:39,479
Speaker 2: just something I have to get off my chest. In

626
00:31:39,520 --> 00:31:43,160
Speaker 2: my neighborhood. It's to do with the street corners. In fact,

627
00:31:43,160 --> 00:31:45,480
Speaker 2: it's not just the street corners now, it's everywhere and

628
00:31:45,600 --> 00:31:47,400
Speaker 2: all of the parks. I don't know if you have

629
00:31:47,440 --> 00:31:50,120
Speaker 2: them in your neighborhood, but there are signs that have

630
00:31:50,200 --> 00:31:53,640
Speaker 2: popped up with new signs, so not just a street sign,

631
00:31:53,680 --> 00:31:55,719
Speaker 2: but a new sign that tells you how many minutes

632
00:31:55,760 --> 00:31:59,760
Speaker 2: you are from a certain location by bicycle and by foot,

633
00:32:00,080 --> 00:32:03,160
Speaker 2: so it'll say two minutes to this bridge or two

634
00:32:03,160 --> 00:32:06,400
Speaker 2: minutes to the street. Anyway, they're everywhere. Is this not

635
00:32:06,480 --> 00:32:09,760
Speaker 2: the dumbest waste of money you've ever heard of? We

636
00:32:09,880 --> 00:32:14,120
Speaker 2: have phones with GPS now we know where we are.

637
00:32:14,800 --> 00:32:17,320
Speaker 2: Why on Earth? And also if you're on a bike

638
00:32:17,600 --> 00:32:20,440
Speaker 2: and you're in a neighborhood, you don't know are you

639
00:32:20,480 --> 00:32:22,760
Speaker 2: going to are you really going to stop at every

640
00:32:22,800 --> 00:32:26,200
Speaker 2: street corner and like look up, you know, move your

641
00:32:26,200 --> 00:32:28,040
Speaker 2: helmet around, look up, and be like, oh, I need

642
00:32:28,040 --> 00:32:30,440
Speaker 2: to go two minutes that way. How much is this

643
00:32:30,560 --> 00:32:34,120
Speaker 2: costing us? Apparently I looked at some things millions of dollars.

644
00:32:34,120 --> 00:32:37,920
Speaker 2: It's called wayfinding and our local boards are funding it.

645
00:32:38,040 --> 00:32:40,760
Speaker 2: So whoever's in charge of that, good on you. You

646
00:32:40,840 --> 00:32:44,680
Speaker 2: might have missed the memo about Google Maps, and you

647
00:32:44,680 --> 00:32:47,440
Speaker 2: know a headphone in your ear that tells you where

648
00:32:47,440 --> 00:32:50,320
Speaker 2: to go these days. People three minutes away from five

649
00:32:50,520 --> 00:33:03,960
Speaker 2: News Talk seed me. The money is from from.

650
00:33:24,480 --> 00:33:27,640
Speaker 1: The only drive show you can trust to ask the questions,

651
00:33:27,760 --> 00:33:31,280
Speaker 1: get the answers by the facts and give the analysis.

652
00:33:31,440 --> 00:33:34,800
Speaker 1: Ryan Bridge on Heather Duplicy Ellen Drive with One New

653
00:33:34,880 --> 00:33:38,120
Speaker 1: Zealand let's get connected News Talk ZB.

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Speaker 2: Seven after five News Talk ZB. I just want to

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00:33:41,760 --> 00:33:45,080
Speaker 2: know what Raylean founds so funny obviously not our GDP

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00:33:45,240 --> 00:33:47,360
Speaker 2: numbers which are out today. And I can tell you

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00:33:47,440 --> 00:33:50,360
Speaker 2: we fell by a whopping one percent in Q three.

658
00:33:50,440 --> 00:33:52,960
Speaker 2: Q two was revised down to a huge one point

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00:33:53,040 --> 00:33:56,920
Speaker 2: one percent was point two. This officially makes this the

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00:33:57,000 --> 00:34:01,480
Speaker 2: deepest recession bar lockdowns since nineteen ninety one. The Reserve

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Speaker 2: Bank Governor Adrian or well, we didn't ask him on

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Speaker 2: the program. He's declined our interview requests. This evening, Former

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Speaker 2: Finance Minister Stephen Joyce is with me live though good evening.

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00:34:09,880 --> 00:34:10,799
Speaker 7: Hi Ryan, how are you.

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00:34:10,920 --> 00:34:14,000
Speaker 2: I'm well, thank you. What's your take on today's numbers?

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00:34:14,760 --> 00:34:17,480
Speaker 7: Well, I think some people have got some questions to answer,

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00:34:17,520 --> 00:34:20,360
Speaker 7: to be honest, including the Reserve Bank governess. I'm not

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00:34:20,400 --> 00:34:24,200
Speaker 7: surprised you asked him on because what we're really seeing

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00:34:24,360 --> 00:34:28,719
Speaker 7: once again is that he was both heavy footed on

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00:34:28,719 --> 00:34:31,040
Speaker 7: the way up and heavy footed on the way down,

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00:34:31,440 --> 00:34:35,080
Speaker 7: and I think there is some legitimate questions to be asked.

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00:34:35,280 --> 00:34:38,279
Speaker 7: I can remember as quite recently him saying he's got

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00:34:38,280 --> 00:34:40,680
Speaker 7: it all under control and that this is going to

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00:34:40,680 --> 00:34:42,680
Speaker 7: be a soft landing. Well, quite clearly it wasn't. I

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00:34:42,680 --> 00:34:44,279
Speaker 7: think we've none about it for some time. Now we

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00:34:44,320 --> 00:34:45,400
Speaker 7: have the figures to confirm it.

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Speaker 2: Yeah, we've all felt it. Do you think he should

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00:34:49,280 --> 00:34:51,279
Speaker 2: what should the government remove him? Should he go?

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00:34:51,719 --> 00:34:53,640
Speaker 7: I mean, well, no, I don't think the government should

680
00:34:53,680 --> 00:34:57,160
Speaker 7: remove him, because I think once you start removing central

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00:34:57,160 --> 00:34:59,799
Speaker 7: bank governors, that's a mistake. But I think he does

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00:35:00,080 --> 00:35:04,759
Speaker 7: the country and explanation, but not just him. Frankly, I

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00:35:04,800 --> 00:35:10,520
Speaker 7: think we had a couple of things with the previous government.

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00:35:10,600 --> 00:35:12,920
Speaker 7: You know, they were very very similar on the fiscal side,

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00:35:13,040 --> 00:35:16,960
Speaker 7: so we had a panicked overdoing of the response on

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00:35:17,480 --> 00:35:22,160
Speaker 7: both fiscally and monetarily wise. And now we're reaping the

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00:35:22,920 --> 00:35:26,200
Speaker 7: rewards of that, which aren't very pleasant. And it's been

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00:35:26,239 --> 00:35:28,560
Speaker 7: a very, very tough year, and so there are lots

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00:35:28,600 --> 00:35:31,520
Speaker 7: of questions to answer. I think we've had a six

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00:35:31,600 --> 00:35:35,480
Speaker 7: or seven year period where people have said, oh, well,

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00:35:35,520 --> 00:35:37,960
Speaker 7: the economy or just cope with whatever we throw at it,

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00:35:38,120 --> 00:35:40,600
Speaker 7: and that includes the COVID response, and some of that

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00:35:40,760 --> 00:35:42,319
Speaker 7: was necessary and some of it wasn't.

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00:35:43,120 --> 00:35:44,240
Speaker 11: And so now.

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Speaker 7: The reality is we need a period of time where

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00:35:49,280 --> 00:35:52,240
Speaker 7: we actually focus on growing this economy because quite clearly,

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00:35:52,320 --> 00:35:54,480
Speaker 7: when we treated the way we did in the last

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00:35:54,680 --> 00:35:57,080
Speaker 7: six or seven years, it gets really damaged. And that

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00:35:57,239 --> 00:35:58,799
Speaker 7: that hurts every day news.

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00:35:59,160 --> 00:36:02,279
Speaker 2: We hammer the MasterCard, no doubt about it, but to

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00:36:03,200 --> 00:36:06,320
Speaker 2: be fear to Adriana or and to the previous government.

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00:36:07,320 --> 00:36:09,400
Speaker 2: You look at Australia, you know, they're growing at what

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00:36:09,520 --> 00:36:12,040
Speaker 2: point eight percent this year. That's the slowest since the

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00:36:12,239 --> 00:36:14,520
Speaker 2: early nineties for them as well outside of COVID.

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Speaker 7: Yeah, but they're growing, which makes it it's a much

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00:36:17,560 --> 00:36:20,000
Speaker 7: more pleasant experience and I think a lot of people

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00:36:20,040 --> 00:36:22,840
Speaker 7: that have spent time in Australia recently. I haven't, but

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00:36:23,040 --> 00:36:25,200
Speaker 7: I know a lot of people that have would say

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00:36:25,239 --> 00:36:27,440
Speaker 7: it's a different vibe over there than it is in

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00:36:27,520 --> 00:36:29,759
Speaker 7: this country. At the moment, it's quite stark. And we

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00:36:29,840 --> 00:36:33,800
Speaker 7: can see that with the numbers moving to Australia. Is that,

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00:36:33,880 --> 00:36:36,759
Speaker 7: you know, it's once again seen as quite a big

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00:36:36,800 --> 00:36:41,920
Speaker 7: difference an opportunity for people than here. And you know

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00:36:42,239 --> 00:36:44,400
Speaker 7: there's pretty people on the left that will seek to

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00:36:44,560 --> 00:36:48,000
Speaker 7: blame the current government for that, but actually, you know,

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00:36:48,080 --> 00:36:50,520
Speaker 7: this has been set up over the last six or

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00:36:50,560 --> 00:36:51,080
Speaker 7: seven years.

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00:36:51,120 --> 00:36:54,200
Speaker 2: I think when we had the HAFU on Tuesday and

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00:36:54,280 --> 00:36:56,719
Speaker 2: Nichola Willis came on the show, I was asking her

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00:36:56,760 --> 00:36:59,040
Speaker 2: about whether she was going to go deeper and harder

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00:36:59,120 --> 00:37:01,480
Speaker 2: with the cups in the state of the books. I mean,

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00:37:01,520 --> 00:37:03,560
Speaker 2: we're borrowing, We're not even going to get to start

723
00:37:03,600 --> 00:37:06,279
Speaker 2: paying back any of that COVID debt until we get

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00:37:06,320 --> 00:37:07,800
Speaker 2: to surplus, which is not going to be until the

725
00:37:07,880 --> 00:37:12,200
Speaker 2: twenty thirties. So why not cut deeper? Does today's numbers

726
00:37:12,760 --> 00:37:16,799
Speaker 2: kind of signal why she's got a real balancing act

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00:37:16,960 --> 00:37:17,719
Speaker 2: on her hands here?

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00:37:18,320 --> 00:37:18,440
Speaker 14: Oh?

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00:37:18,560 --> 00:37:21,919
Speaker 7: She absolutely has a I think I've felt that it's

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00:37:22,200 --> 00:37:23,959
Speaker 7: going to end up a bit like this ever since,

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00:37:24,680 --> 00:37:28,920
Speaker 7: ever since she got the job, because the numbers. I

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00:37:29,040 --> 00:37:33,000
Speaker 7: think the numbers were always looking at being harder to

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00:37:33,480 --> 00:37:35,560
Speaker 7: balance than it was for us when we came in

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00:37:35,680 --> 00:37:39,040
Speaker 7: after the GFC, and that was hard enough, frankly, And

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00:37:39,800 --> 00:37:43,000
Speaker 7: I've I thought she's been in a difficult position ever

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00:37:43,080 --> 00:37:46,280
Speaker 7: since she's taken on the job because it was always

737
00:37:46,360 --> 00:37:49,560
Speaker 7: going to be worse, and Treasury's projections forward are always

738
00:37:49,600 --> 00:37:51,920
Speaker 7: going to deteriorate at the stage of the cycle. At

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00:37:51,960 --> 00:37:54,520
Speaker 7: some point they'll turn and they'll say, oh, well, things

740
00:37:54,560 --> 00:37:57,840
Speaker 7: will get better, because Treasury. Treasury has a habit of

741
00:37:57,920 --> 00:37:59,839
Speaker 7: drawing lines from where we are and saying, oh, it's

742
00:37:59,880 --> 00:38:02,000
Speaker 7: this going to get terrible. So I don't think it

743
00:38:02,200 --> 00:38:04,399
Speaker 7: necessarily is going to be as bad as they say,

744
00:38:04,480 --> 00:38:07,479
Speaker 7: but it's bad enough. And now that we're talking debt

745
00:38:08,200 --> 00:38:11,560
Speaker 7: to GDP ratios of getting towards the high forties percent,

746
00:38:12,280 --> 00:38:15,520
Speaker 7: the difficulty, Yeah, that's right. And the difficulty with that

747
00:38:15,800 --> 00:38:19,239
Speaker 7: is is you can make the argument that that's not

748
00:38:19,360 --> 00:38:22,799
Speaker 7: the end of the world, but we're only one big

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00:38:23,000 --> 00:38:26,480
Speaker 7: sort of natural shock away from being another ten percent

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00:38:26,600 --> 00:38:29,040
Speaker 7: on top of that, God forbid something else happens, but

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00:38:29,160 --> 00:38:30,800
Speaker 7: it does tend to happen from time to time in

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00:38:30,880 --> 00:38:33,440
Speaker 7: this country. So we do need to get it under control.

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00:38:33,800 --> 00:38:35,880
Speaker 7: And that means the current government is probably going to

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00:38:35,960 --> 00:38:40,560
Speaker 7: have to push harder than they expected to do some things.

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00:38:41,000 --> 00:38:44,480
Speaker 7: It's not just cutting costs, so that's a significant part

756
00:38:44,520 --> 00:38:47,680
Speaker 7: of it. It's moving faster to grow the economy and

757
00:38:47,719 --> 00:38:51,520
Speaker 7: to encourage investment. And they've done quite a lot in

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00:38:51,560 --> 00:38:53,440
Speaker 7: this first year, but actually they need to have a

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00:38:53,480 --> 00:38:56,080
Speaker 7: break and come back and go harder again because we

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00:38:56,160 --> 00:38:59,600
Speaker 7: need to, for example, don't just talk about attracting investment,

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00:39:00,200 --> 00:39:03,200
Speaker 7: is take some steps to actually attract some investment. Now

762
00:39:03,239 --> 00:39:04,960
Speaker 7: they've done a bit in the R and A space,

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00:39:05,200 --> 00:39:08,040
Speaker 7: but I'm talking about overseas investment as well, because the

764
00:39:08,200 --> 00:39:11,560
Speaker 7: infrastructure pipeline can't happen without overseas investment. We don't have

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00:39:11,600 --> 00:39:15,920
Speaker 7: any do and getting a lot of investment in the

766
00:39:16,120 --> 00:39:19,879
Speaker 7: in the in the in the private sector businesses will

767
00:39:19,920 --> 00:39:22,359
Speaker 7: involve overseas investment as well, So we need to stop

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00:39:22,400 --> 00:39:24,080
Speaker 7: talking about that and actually doing it. So there's a

769
00:39:24,080 --> 00:39:26,400
Speaker 7: bunch of things that they're going to have to move fast.

770
00:39:26,400 --> 00:39:28,440
Speaker 7: Wrong in the New Year, and it's difficult because you're

771
00:39:28,480 --> 00:39:30,239
Speaker 7: in a coalition and all the easy stuff has been

772
00:39:30,280 --> 00:39:32,200
Speaker 7: done the fact. But you know, everybody's agreed on the

773
00:39:32,239 --> 00:39:34,480
Speaker 7: things that have been done so far, that which seem

774
00:39:34,520 --> 00:39:36,960
Speaker 7: with the ferries, the ferries and so on, that is

775
00:39:37,000 --> 00:39:37,959
Speaker 7: the Sonali things.

776
00:39:38,320 --> 00:39:39,120
Speaker 2: They all have to become.

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00:39:39,200 --> 00:39:40,720
Speaker 7: You on overseas investment.

778
00:39:40,400 --> 00:39:43,399
Speaker 2: And a few handbreaks in the passenger seat too. Thank

779
00:39:43,400 --> 00:39:44,960
Speaker 2: you very much for coming on the program. Great to

780
00:39:45,000 --> 00:39:47,080
Speaker 2: have you on as always. Stephen Joyce, former Finance Minister.

781
00:39:47,160 --> 00:39:51,040
Speaker 2: Just gone thirteen minutes after five Brian Breed. The Prime

782
00:39:51,080 --> 00:39:53,080
Speaker 2: Minister has chosen not to go to White Tangy on

783
00:39:53,120 --> 00:39:55,520
Speaker 2: My Tangy Day. In a statement, Luxon has said he's

784
00:39:55,560 --> 00:39:57,560
Speaker 2: going to join New Zealand is celebrating the day in

785
00:39:57,680 --> 00:40:00,960
Speaker 2: other regions. The last time this happened was twenty seventeen,

786
00:40:01,520 --> 00:40:04,080
Speaker 2: when then Prime Minister Sir Bill English chose not to

787
00:40:04,160 --> 00:40:07,279
Speaker 2: attend Peta Tippani as chairman of the White Tangi National Trust.

788
00:40:07,360 --> 00:40:11,239
Speaker 2: Curta Pitza kider Ron, how did you find out about this?

789
00:40:13,320 --> 00:40:15,480
Speaker 20: I found out when the Prime Minister called me earlier

790
00:40:15,560 --> 00:40:16,200
Speaker 20: this afternoon.

791
00:40:17,080 --> 00:40:17,719
Speaker 2: What do you say?

792
00:40:19,360 --> 00:40:19,680
Speaker 16: He said?

793
00:40:19,760 --> 00:40:23,320
Speaker 20: Unfortunately, I won't be at Waitangi twenty twenty five, and

794
00:40:23,600 --> 00:40:27,320
Speaker 20: I will be elsewhere in the country because I've received

795
00:40:27,400 --> 00:40:32,080
Speaker 20: invitations from other EWE leaders and so I've committed myself

796
00:40:32,160 --> 00:40:34,080
Speaker 20: to going to those places.

797
00:40:35,040 --> 00:40:36,600
Speaker 2: Fair enough and share the love.

798
00:40:36,680 --> 00:40:37,280
Speaker 8: I guess.

799
00:40:39,160 --> 00:40:41,440
Speaker 20: No, not from my perspectives. So being the chairman of

800
00:40:41,480 --> 00:40:45,200
Speaker 20: the Waitangi National Trust, which is a national trust, and

801
00:40:46,280 --> 00:40:49,279
Speaker 20: our job being Kaitiaki or guardians of not only the

802
00:40:49,400 --> 00:40:52,880
Speaker 20: physical environment of wait Tungy, the treaty grounds, but what

803
00:40:53,000 --> 00:40:57,440
Speaker 20: it represents in terms of our nightionhood. So where else

804
00:40:57,680 --> 00:40:59,880
Speaker 20: would you want to be or would you need to

805
00:41:00,160 --> 00:41:05,279
Speaker 20: be to remember and respect those who have fallen at Gettysburg?

806
00:41:06,440 --> 00:41:09,040
Speaker 2: Well that yeah, Look, you make a good point there.

807
00:41:09,320 --> 00:41:13,359
Speaker 2: What about these claims from you know rwity Ytt says

808
00:41:13,440 --> 00:41:16,480
Speaker 2: the Prime Minister is quote drop nuts because he's not

809
00:41:16,560 --> 00:41:18,880
Speaker 2: going to white Haangy because he might get beaten up

810
00:41:19,000 --> 00:41:20,880
Speaker 2: or there might be you know, Willie Jackson has suggested

811
00:41:20,920 --> 00:41:23,960
Speaker 2: he could have got himself into some physical harm. Is

812
00:41:24,040 --> 00:41:25,440
Speaker 2: that true? Are you buying any of that?

813
00:41:27,640 --> 00:41:27,759
Speaker 7: Oh?

814
00:41:27,840 --> 00:41:30,800
Speaker 20: Look, any white to your day as a cauldron? Let alone,

815
00:41:30,800 --> 00:41:33,120
Speaker 20: what's going to happen next year? Give him the treaty

816
00:41:33,160 --> 00:41:36,040
Speaker 20: Principles Bill and everything else that's going on, it will

817
00:41:36,120 --> 00:41:39,680
Speaker 20: be potentially more volatile than it ever will has been.

818
00:41:40,200 --> 00:41:42,719
Speaker 2: So can you understand him not wanting to be there

819
00:41:42,760 --> 00:41:43,800
Speaker 2: if it's going to get physical.

820
00:41:45,520 --> 00:41:48,160
Speaker 20: Oh, look, I can totally understand that. But what we

821
00:41:48,320 --> 00:41:51,320
Speaker 20: at the Waiting National Trust do our utmost is to

822
00:41:51,760 --> 00:41:55,439
Speaker 20: ensure everybody's safety. And in fact, when we talk about

823
00:41:55,480 --> 00:41:59,239
Speaker 20: the Prime Minister, we are merely upholding our tikon or

824
00:41:59,320 --> 00:42:03,719
Speaker 20: our customs, which means that we will welcome all all

825
00:42:04,880 --> 00:42:08,920
Speaker 20: people of whatever political stripe and whatever opinion that includes

826
00:42:09,000 --> 00:42:13,719
Speaker 20: the Prime Minister. So we want to want people to

827
00:42:13,840 --> 00:42:16,880
Speaker 20: know that they are welcome and we will do our

828
00:42:17,000 --> 00:42:22,080
Speaker 20: utmost to ensure their safety. That might be difficult at times,

829
00:42:22,160 --> 00:42:25,240
Speaker 20: but we'll do our damn our dundest.

830
00:42:25,080 --> 00:42:26,680
Speaker 2: All right, Peter, thank you very much to that. Peter

831
00:42:26,719 --> 00:42:29,600
Speaker 2: Tippani is the chairman of the White Tangi National Trusts.

832
00:42:29,680 --> 00:42:32,920
Speaker 2: Christopher Luxan not going to White Tangy next year and

833
00:42:33,040 --> 00:42:34,719
Speaker 2: we don't know where he's going yet, but he'll tell

834
00:42:34,800 --> 00:42:37,319
Speaker 2: us in good time. We're told coming out next air.

835
00:42:37,400 --> 00:42:40,840
Speaker 2: New Zealand wants your help finding your lost baggage. Just

836
00:42:40,920 --> 00:42:43,320
Speaker 2: gone eighteen after five news talks. They'd be just in

837
00:42:43,400 --> 00:42:45,480
Speaker 2: time for the holidays. Air New Zealand has found a

838
00:42:45,520 --> 00:42:48,000
Speaker 2: way to make finding lost luggage a little bit easier,

839
00:42:48,040 --> 00:42:50,640
Speaker 2: so they've come out today and said that travelers who

840
00:42:50,680 --> 00:42:53,439
Speaker 2: put an Apple ear tag on their bag can share

841
00:42:53,480 --> 00:42:56,319
Speaker 2: its location with the airline's customer service team, so if

842
00:42:56,360 --> 00:42:58,759
Speaker 2: the bag becomes lost, they'll be able to view both

843
00:42:59,040 --> 00:43:02,719
Speaker 2: where it was last scanned at the airport by the airlines,

844
00:43:02,760 --> 00:43:06,400
Speaker 2: but also its current location. Nicol Ravshanka is In New

845
00:43:06,480 --> 00:43:09,479
Speaker 2: Zealand's chief Digital officer. He's with me this evening. Nicol,

846
00:43:09,520 --> 00:43:10,200
Speaker 2: Welcome to the show.

847
00:43:11,560 --> 00:43:13,080
Speaker 21: Hi, Ryan, thanks for having me.

848
00:43:13,280 --> 00:43:14,920
Speaker 2: How many bags do you guys lose a day?

849
00:43:17,880 --> 00:43:21,880
Speaker 21: I can tell you in twenty twenty four we mishandled

850
00:43:21,920 --> 00:43:25,239
Speaker 21: about six point six percent of bags we transported. So

851
00:43:26,840 --> 00:43:29,520
Speaker 21: we transport about three point two million bags a year

852
00:43:30,040 --> 00:43:33,040
Speaker 21: and twenty thousand of those were mishandled in twenty twenty four.

853
00:43:33,160 --> 00:43:36,680
Speaker 2: All right, so quite a lot. How until now, how

854
00:43:36,760 --> 00:43:39,560
Speaker 2: have you not been able to use people's ear tags.

855
00:43:39,600 --> 00:43:42,279
Speaker 2: I mean it must be frustrating for them if they've

856
00:43:42,320 --> 00:43:44,359
Speaker 2: got an ear tag on their bag and they can

857
00:43:44,400 --> 00:43:46,959
Speaker 2: show it to the customer service rip and up until

858
00:43:47,000 --> 00:43:49,480
Speaker 2: now they've been able to do what nothing with that information.

859
00:43:51,280 --> 00:43:54,680
Speaker 21: Well, if you recall a couple of years ago, we

860
00:43:54,760 --> 00:43:59,279
Speaker 21: had that Northern Hemisphere snowstorm and we had the Bag

861
00:43:59,360 --> 00:44:03,080
Speaker 21: of Mageddon in New Zealand. What we did do for

862
00:44:03,239 --> 00:44:06,920
Speaker 21: folk who had air tags in their suitcases was we

863
00:44:07,080 --> 00:44:09,680
Speaker 21: just borrow their phone and go looking for their bag.

864
00:44:10,200 --> 00:44:11,840
Speaker 21: Now we don't obviously have to do that. We have

865
00:44:11,920 --> 00:44:15,040
Speaker 21: a much more elegant solution, and that's thanks to sort

866
00:44:15,040 --> 00:44:17,960
Speaker 21: of the collaboration with Apple and the work they've done

867
00:44:18,160 --> 00:44:22,520
Speaker 21: to allow safe sharing of air tag locations with trusted

868
00:44:22,560 --> 00:44:24,040
Speaker 21: their parties like ourselves.

869
00:44:24,800 --> 00:44:27,080
Speaker 2: Is that what the hold up is being security?

870
00:44:29,719 --> 00:44:33,080
Speaker 21: I mean, it's sharing an air tag location when it's

871
00:44:33,160 --> 00:44:39,520
Speaker 21: attached to you know, your personal items is a quite

872
00:44:39,600 --> 00:44:43,360
Speaker 21: a it's quite a sophisticated solution to manage the privacy

873
00:44:43,400 --> 00:44:47,520
Speaker 21: associated with that. So, for example, when a customer shares

874
00:44:47,640 --> 00:44:52,000
Speaker 21: their air tag location with us, we get to keep

875
00:44:52,040 --> 00:44:55,960
Speaker 21: that only for a temporary time frame, so about seven

876
00:44:56,040 --> 00:44:59,960
Speaker 21: days or until the bag gets reunited with the customer.

877
00:45:01,160 --> 00:45:04,200
Speaker 21: So building that type of infrastructure was going was going

878
00:45:04,280 --> 00:45:05,560
Speaker 21: to be critical to do this safely.

879
00:45:06,560 --> 00:45:10,040
Speaker 2: Do you recommend people get an ear tag then, because like,

880
00:45:10,080 --> 00:45:12,560
Speaker 2: how many of your customers do you reckon actually have them?

881
00:45:12,640 --> 00:45:12,799
Speaker 19: Now?

882
00:45:13,080 --> 00:45:15,800
Speaker 2: Do you get lots of requests for them for you know,

883
00:45:16,200 --> 00:45:17,880
Speaker 2: finding lost bags using your tags.

884
00:45:19,520 --> 00:45:22,759
Speaker 21: It's getting more and more popular. And as the sort

885
00:45:22,800 --> 00:45:26,000
Speaker 21: of cost of an air tag drops, and the fact

886
00:45:26,080 --> 00:45:30,680
Speaker 21: that now the various civil aviation authorities around the world

887
00:45:30,800 --> 00:45:34,120
Speaker 21: are sort of okaying the use of Apple air tags,

888
00:45:34,200 --> 00:45:39,400
Speaker 21: we see becoming very popular. So this is a added

889
00:45:40,440 --> 00:45:43,640
Speaker 21: peace of mind, if you will, or for customers who

890
00:45:43,719 --> 00:45:46,239
Speaker 21: are for travelers who you know, want to invest in it.

891
00:45:46,400 --> 00:45:49,520
Speaker 21: So and we're we're making sure that, you know, we're

892
00:45:49,760 --> 00:45:53,680
Speaker 21: positioned to allow them to utilize it the way we've

893
00:45:53,719 --> 00:45:54,480
Speaker 21: got it set up now.

894
00:45:54,600 --> 00:45:56,440
Speaker 2: Yeah, interesting, Nicole, thank you very much for your time

895
00:45:56,440 --> 00:45:58,880
Speaker 2: in running us through that. Nicole Revshenka, who's in New

896
00:45:58,960 --> 00:46:02,719
Speaker 2: Zealand's chief digit officer. I mean, ideally they wouldn't lose

897
00:46:02,719 --> 00:46:04,440
Speaker 2: your bag in the first place. Your bag wouldn't get

898
00:46:04,440 --> 00:46:06,200
Speaker 2: lost in the first place, but I guess if it

899
00:46:06,320 --> 00:46:08,520
Speaker 2: does then having an air tag. To be honest, I've

900
00:46:08,560 --> 00:46:10,200
Speaker 2: never used an ear tag in my entire life. I

901
00:46:10,239 --> 00:46:11,680
Speaker 2: don't even know what couldn't even tell you what they

902
00:46:11,719 --> 00:46:14,840
Speaker 2: look like, but I know that people who are terrible

903
00:46:14,920 --> 00:46:18,480
Speaker 2: with car keys and wallets find them invaluable. Twenty two

904
00:46:18,480 --> 00:46:21,160
Speaker 2: minutes after five news talks, they'd be hard.

905
00:46:21,040 --> 00:46:25,319
Speaker 1: Questions, strong opinion, Ryan Bridge on Heather Duper see Allen Drive,

906
00:46:25,440 --> 00:46:28,520
Speaker 1: where's one New Zealand let's get connected? And news Talk

907
00:46:28,680 --> 00:46:29,640
Speaker 1: said b Well.

908
00:46:29,480 --> 00:46:31,960
Speaker 2: We're coming up to Christmas, aren't we. So this afternoon,

909
00:46:32,000 --> 00:46:35,880
Speaker 2: I'd like to highlight all of the smart young climate

910
00:46:36,000 --> 00:46:38,640
Speaker 2: crusaders out there who are doing their bit to save

911
00:46:38,760 --> 00:46:41,800
Speaker 2: the planet. I'd like to thank you for your dedication

912
00:46:42,000 --> 00:46:45,400
Speaker 2: this year. The ones who showed courage by skipping school.

913
00:46:45,440 --> 00:46:48,000
Speaker 2: Am I talking about you? No, I'm not talking about you.

914
00:46:48,160 --> 00:46:50,239
Speaker 2: What about the ones who threw paint at the Mona

915
00:46:50,320 --> 00:46:53,160
Speaker 2: Lisa this year. No, I'm not talking about you either.

916
00:46:53,560 --> 00:46:56,680
Speaker 2: The ones who glued themselves to the pavement. No, the

917
00:46:56,760 --> 00:46:59,360
Speaker 2: ones who threw the talcum powder at the tennis courts

918
00:46:59,400 --> 00:47:02,840
Speaker 2: in Wimbledon. No, not those types either. I'm talking about

919
00:47:02,880 --> 00:47:08,040
Speaker 2: the smart activists who didn't skip school, the ones who

920
00:47:08,080 --> 00:47:13,040
Speaker 2: are finding actual solutions using technology and their brains. I've

921
00:47:13,080 --> 00:47:14,799
Speaker 2: read about three of them just in the past couple

922
00:47:14,840 --> 00:47:16,239
Speaker 2: of days, and it got me thinking. One of them

923
00:47:16,320 --> 00:47:19,520
Speaker 2: is called aquatic they're looking at how the ocean could

924
00:47:19,560 --> 00:47:22,960
Speaker 2: be used to capture and store carbon. Really interesting. Another

925
00:47:23,040 --> 00:47:26,040
Speaker 2: one's called real ice. They drill holes through the sea

926
00:47:26,080 --> 00:47:29,000
Speaker 2: ice in the Arctic, they pump out the seawater below

927
00:47:29,080 --> 00:47:31,000
Speaker 2: it and freeze it on the top on the surface.

928
00:47:31,560 --> 00:47:33,960
Speaker 2: And there was a young CEO by the name of

929
00:47:34,080 --> 00:47:37,880
Speaker 2: Alisha Fredrickson who I read about just yesterday. She's building

930
00:47:37,920 --> 00:47:43,120
Speaker 2: an onboard carbon capture device for cargo ships. Fascinating stuff.

931
00:47:43,520 --> 00:47:47,160
Speaker 2: Good on them for working hard and trying and innovating.

932
00:47:47,520 --> 00:47:49,640
Speaker 2: Not all of them will succeed, of course, but eventually

933
00:47:49,800 --> 00:47:53,160
Speaker 2: someone will. That's how we're humans evolve. That's how we've

934
00:47:53,200 --> 00:47:57,200
Speaker 2: stuck around. But only if you're smart enough to know how.

935
00:47:57,800 --> 00:48:00,480
Speaker 2: So to all the climate kids, the lesson here is

936
00:48:00,600 --> 00:48:04,239
Speaker 2: quite simple. Stay in school and to the teachers who

937
00:48:04,440 --> 00:48:07,360
Speaker 2: encourage their time off, and plenty of them did that

938
00:48:07,480 --> 00:48:10,120
Speaker 2: this year, particularly the unions who've had a lot to

939
00:48:10,239 --> 00:48:14,560
Speaker 2: say about it. Tomorrow's problems aren't solved by painting banners.

940
00:48:14,600 --> 00:48:18,759
Speaker 2: They're solved in classrooms. Ask not what the planet is

941
00:48:18,840 --> 00:48:22,000
Speaker 2: doing to your kids, but what your kids can do

942
00:48:22,160 --> 00:48:25,320
Speaker 2: for the planet. Ryan Bridge for a bit of inspiration

943
00:48:25,440 --> 00:48:28,120
Speaker 2: on the Thursday, afternoon, twenty seven minutes after five on

944
00:48:28,200 --> 00:48:32,080
Speaker 2: News Talks THEIDB coming up after five free speech at

945
00:48:32,200 --> 00:48:34,400
Speaker 2: universities apparently under threat.

946
00:48:34,640 --> 00:48:38,080
Speaker 1: Digging deeper into the day's headlines, it's Ryan Bridge on

947
00:48:38,239 --> 00:48:41,520
Speaker 1: heatherd for ce Ellan Drive with one New Zealand let's

948
00:48:41,600 --> 00:48:43,319
Speaker 1: get connected, and news Talk said, be.

949
00:48:55,280 --> 00:48:57,279
Speaker 2: God you mean twenty five minutes away from six on

950
00:48:57,360 --> 00:49:00,800
Speaker 2: Newstalk SAIDB sailing towards Christmas, we are. It's kind of

951
00:49:00,840 --> 00:49:03,160
Speaker 2: got that awkward couple of days next week, doesn't it.

952
00:49:03,200 --> 00:49:06,000
Speaker 2: If you're working, some of you will have to work.

953
00:49:06,280 --> 00:49:08,560
Speaker 2: I don't, thankfully, but some of you will have to work.

954
00:49:08,600 --> 00:49:10,800
Speaker 2: It's kind of an awkward time. There's a word for

955
00:49:10,920 --> 00:49:12,840
Speaker 2: the period between does it even know the word for

956
00:49:12,920 --> 00:49:14,000
Speaker 2: the period between Christmas?

957
00:49:14,120 --> 00:49:15,200
Speaker 16: And No?

958
00:49:15,320 --> 00:49:18,160
Speaker 2: We won't say that word. Okay, the Lord is shaking

959
00:49:18,200 --> 00:49:21,200
Speaker 2: her head. Oh no, I think I probably shouldn't say.

960
00:49:21,040 --> 00:49:22,520
Speaker 1: The word, Ran Bridge.

961
00:49:23,200 --> 00:49:26,880
Speaker 2: I won't say the word right, And you know the

962
00:49:26,960 --> 00:49:28,719
Speaker 2: thing is, we're about to talk about free speech, so

963
00:49:28,760 --> 00:49:31,600
Speaker 2: I'm kind of undermining myself here. However, the government wants

964
00:49:31,640 --> 00:49:34,920
Speaker 2: to change the law to strengthen freedom of speech at universities.

965
00:49:35,440 --> 00:49:38,560
Speaker 2: Proposed changes will mean that universities won't be allowed to

966
00:49:38,719 --> 00:49:42,600
Speaker 2: adopt positions on issues that don't directly relate to their

967
00:49:42,760 --> 00:49:45,800
Speaker 2: core functions, and they will each be required to provide

968
00:49:45,840 --> 00:49:48,879
Speaker 2: a freedom of speech statement and report annually on their

969
00:49:48,920 --> 00:49:55,160
Speaker 2: commitments the Tertiary Education and Skills Misters Penny Simmons, Minister, Hello, Hello,

970
00:49:55,360 --> 00:49:58,000
Speaker 2: how are you good? Thank you? Do you think university

971
00:49:58,080 --> 00:50:01,280
Speaker 2: at the moment are university's resi freedom of speech?

972
00:50:03,160 --> 00:50:08,720
Speaker 22: Well, they have an obligation for academic freedom, to promote

973
00:50:08,760 --> 00:50:12,160
Speaker 22: academic freedom for their staff and students, and freedom of

974
00:50:12,280 --> 00:50:16,719
Speaker 22: speech is really closely linked to that, and so we

975
00:50:16,960 --> 00:50:20,959
Speaker 22: think perhaps that they have been little risk adverse over

976
00:50:21,719 --> 00:50:25,040
Speaker 22: the last few years in terms of canceling some things

977
00:50:25,160 --> 00:50:30,320
Speaker 22: that might be considered controversial. And so this is just

978
00:50:30,440 --> 00:50:33,839
Speaker 22: making it really clear. It will be a change of legislation,

979
00:50:34,000 --> 00:50:37,400
Speaker 22: a change of Education and Training Act twenty twenty to

980
00:50:37,800 --> 00:50:43,560
Speaker 22: ensure that. One they've got policy and procedures around ensuring

981
00:50:43,760 --> 00:50:47,480
Speaker 22: that they not only allow but promote freedom of speech,

982
00:50:48,040 --> 00:50:54,520
Speaker 22: but also then some requirements about having to record complaints

983
00:50:54,640 --> 00:50:57,640
Speaker 22: and be transparent about any complaints they might take.

984
00:50:57,520 --> 00:50:59,600
Speaker 2: Without what can you give an example, what is an

985
00:50:59,600 --> 00:51:04,160
Speaker 2: example of an example where they have restricted freedom of speech.

986
00:51:05,600 --> 00:51:08,560
Speaker 22: Look, I think there's been a few over the last

987
00:51:08,680 --> 00:51:12,319
Speaker 22: few years. Are probably the dom Brash one was an

988
00:51:12,360 --> 00:51:13,680
Speaker 22: obvious one from Massy.

989
00:51:14,680 --> 00:51:14,879
Speaker 13: See.

990
00:51:14,920 --> 00:51:17,520
Speaker 2: The thing is with these ones, Penny, that they always

991
00:51:17,600 --> 00:51:21,600
Speaker 2: say it's safety. It's a risk to people's safety if

992
00:51:21,640 --> 00:51:25,040
Speaker 2: we invite these people on. So are you asking them

993
00:51:25,120 --> 00:51:28,440
Speaker 2: to override their safety concerns in the name of freedom

994
00:51:28,480 --> 00:51:28,920
Speaker 2: of speech.

995
00:51:29,880 --> 00:51:33,640
Speaker 22: Look, I think health and safety has perhaps been used

996
00:51:33,680 --> 00:51:38,000
Speaker 22: a little bit too liberally as a reason why not

997
00:51:38,200 --> 00:51:43,200
Speaker 22: to have people. And we're certainly not overriding the ability

998
00:51:43,480 --> 00:51:46,919
Speaker 22: for a university to be able to charge if there

999
00:51:47,080 --> 00:51:52,120
Speaker 22: are entities that are coming that may require additional security

1000
00:51:52,360 --> 00:51:57,240
Speaker 22: or additional costs to the university, and would certainly expect

1001
00:51:57,320 --> 00:51:58,840
Speaker 22: that they should be able to be charged.

1002
00:51:58,840 --> 00:52:00,719
Speaker 2: Because the thing is the I mean, let's face it,

1003
00:52:00,760 --> 00:52:03,279
Speaker 2: they're all largely a bunch of lefties, and they don't

1004
00:52:03,440 --> 00:52:06,560
Speaker 2: like often don't like hearing controversial opinions, and so they

1005
00:52:06,680 --> 00:52:09,000
Speaker 2: just say no and then they hide behind the safety thing.

1006
00:52:09,120 --> 00:52:10,120
Speaker 2: Is that what you think is happening?

1007
00:52:11,480 --> 00:52:15,120
Speaker 22: Well, Look, the trouble is it impacts on the academic

1008
00:52:15,280 --> 00:52:19,279
Speaker 22: freedom for staff as well, because once you start canceling

1009
00:52:19,920 --> 00:52:24,960
Speaker 22: that anything in terms of freedom of speech, diverse opinions,

1010
00:52:25,120 --> 00:52:28,719
Speaker 22: and the ability to robustly debate. Then you're putting real

1011
00:52:28,840 --> 00:52:32,960
Speaker 22: pressure on academic freedom in terms of being able to

1012
00:52:33,120 --> 00:52:37,160
Speaker 22: express an opinion that might be counter to what the

1013
00:52:37,280 --> 00:52:41,960
Speaker 22: majority have. And so we've seen a number of surveys

1014
00:52:42,120 --> 00:52:46,200
Speaker 22: done on staff and students in universities recently where they

1015
00:52:46,280 --> 00:52:49,239
Speaker 22: say they don't feel safe to come up with a

1016
00:52:50,440 --> 00:52:54,040
Speaker 22: alternative view opinion. Yes, and that's not good.

1017
00:52:54,239 --> 00:52:58,080
Speaker 2: I think most people will say this looks reasonable. One

1018
00:52:58,160 --> 00:53:01,000
Speaker 2: thing that I don't think is reasonable, as you're going

1019
00:53:01,080 --> 00:53:04,520
Speaker 2: to stop universities from adopting positions on issues that don't

1020
00:53:04,560 --> 00:53:06,719
Speaker 2: directly relate to their care role or function. Is that

1021
00:53:06,920 --> 00:53:10,960
Speaker 2: not in trying to encourage freedom of speech, you're almost

1022
00:53:11,000 --> 00:53:11,840
Speaker 2: stifling theirs.

1023
00:53:12,000 --> 00:53:12,480
Speaker 8: Why do that?

1024
00:53:13,600 --> 00:53:17,080
Speaker 22: Well, well, no, again, quite the opposite, Ryan, because once

1025
00:53:17,120 --> 00:53:21,320
Speaker 22: a university takes a stance on a matter that it

1026
00:53:21,520 --> 00:53:26,840
Speaker 22: isn't aligned with the core business. If you're an agricultural university,

1027
00:53:26,920 --> 00:53:29,160
Speaker 22: then of course you should have opinions on different things

1028
00:53:29,239 --> 00:53:32,799
Speaker 22: to do with agriculture or engineering or something. But if

1029
00:53:32,840 --> 00:53:36,120
Speaker 22: you take an opinion, if a university takes a stance

1030
00:53:36,360 --> 00:53:40,279
Speaker 22: rather than being neutral on things that are nothing to

1031
00:53:40,360 --> 00:53:42,920
Speaker 22: do with them. Then all of a sudden, you prevent

1032
00:53:43,280 --> 00:53:46,880
Speaker 22: staff with a differing opinion from men Garba to say anything.

1033
00:53:47,320 --> 00:53:50,560
Speaker 2: What what are you talking about? Because universities teach all

1034
00:53:50,680 --> 00:53:52,880
Speaker 2: sorts of things that they could have an opinion that

1035
00:53:52,920 --> 00:53:54,440
Speaker 2: theoretically on anything.

1036
00:53:55,320 --> 00:54:03,680
Speaker 22: Well, you would hope that some of the worldwide geopolitical things,

1037
00:54:04,239 --> 00:54:07,600
Speaker 22: it might be sensible for them to take a stance

1038
00:54:08,040 --> 00:54:14,880
Speaker 22: because well they might well have students and wide afar

1039
00:54:15,040 --> 00:54:17,600
Speaker 22: now that come from either side of the debate, and

1040
00:54:17,760 --> 00:54:20,320
Speaker 22: so I think that then, and they might have staff.

1041
00:54:20,800 --> 00:54:23,120
Speaker 22: So all of a sudden, down.

1042
00:54:23,280 --> 00:54:26,080
Speaker 2: But minister, if you were a university and you're you know,

1043
00:54:26,200 --> 00:54:29,960
Speaker 2: you have an international relations class, you're saying the university

1044
00:54:30,040 --> 00:54:31,839
Speaker 2: cannot have a position on the Garza war.

1045
00:54:33,600 --> 00:54:38,200
Speaker 22: We're saying that individual staff might want to have a

1046
00:54:38,360 --> 00:54:41,960
Speaker 22: position on it, but the university as a whole shouldn't

1047
00:54:42,080 --> 00:54:46,040
Speaker 22: because then that shuts down any of the individual staff

1048
00:54:46,160 --> 00:54:49,040
Speaker 22: or students. So we not want to have a counter opinion.

1049
00:54:49,160 --> 00:54:51,680
Speaker 2: Here's a shorter list. What can a university have an

1050
00:54:51,719 --> 00:54:52,399
Speaker 2: opinion on them?

1051
00:54:54,280 --> 00:54:57,319
Speaker 22: Look, we're not going to dictate that. If they can

1052
00:54:57,600 --> 00:55:00,919
Speaker 22: justify that they should have an opinion on then that's

1053
00:55:01,000 --> 00:55:02,960
Speaker 22: up to them. And again it's not.

1054
00:55:03,760 --> 00:55:07,480
Speaker 2: If you're teaching international relations and you're not allowed to

1055
00:55:07,520 --> 00:55:12,960
Speaker 2: have an opinion on the war in Gaza, then I

1056
00:55:13,480 --> 00:55:15,799
Speaker 2: don't understand what is your core business? Do you mean?

1057
00:55:15,840 --> 00:55:18,239
Speaker 2: Basically you can have an opinion on the running of

1058
00:55:18,280 --> 00:55:19,719
Speaker 2: a university and that's about it.

1059
00:55:20,840 --> 00:55:20,880
Speaker 21: No.

1060
00:55:21,040 --> 00:55:23,680
Speaker 22: No, the staff that are teaching on that might well

1061
00:55:24,000 --> 00:55:27,440
Speaker 22: have as part of their academic freedom and opinion on

1062
00:55:28,760 --> 00:55:34,360
Speaker 22: some geopolitical situation, but the university as a whole should not.

1063
00:55:36,280 --> 00:55:38,440
Speaker 2: Penny, thank you very much for your time. That's Penny Simmons,

1064
00:55:38,560 --> 00:55:41,040
Speaker 2: Tertiary Education and Skills Minister, nineteen away from.

1065
00:55:41,000 --> 00:55:45,320
Speaker 1: Six The Huddle with New Zealand Southerby's International Realty, local

1066
00:55:45,400 --> 00:55:48,279
Speaker 1: and global exposure like no other The HUDDLD tonight.

1067
00:55:48,360 --> 00:55:52,319
Speaker 2: Jordan Williams Taxpayers Union, Good evening and Ryan Stuart Nash,

1068
00:55:52,440 --> 00:55:54,560
Speaker 2: a former Labour Cabinet Minister. Good evening to you.

1069
00:55:55,560 --> 00:55:55,799
Speaker 14: Ryan.

1070
00:55:55,840 --> 00:55:57,279
Speaker 16: How are you, Jordan? Good to see you today.

1071
00:55:57,760 --> 00:55:58,560
Speaker 2: Were you following that?

1072
00:55:58,680 --> 00:55:59,080
Speaker 7: Stuart?

1073
00:55:59,200 --> 00:56:01,959
Speaker 2: Was that clear? Was what exactly you can and can't

1074
00:56:02,000 --> 00:56:02,560
Speaker 2: say at UNI?

1075
00:56:02,680 --> 00:56:02,799
Speaker 7: Now?

1076
00:56:03,680 --> 00:56:05,319
Speaker 16: Well, I think you ave for lunch mate. You don't

1077
00:56:05,360 --> 00:56:09,160
Speaker 16: need dinner anymore because you're full. I mean, Penny is example,

1078
00:56:09,160 --> 00:56:10,880
Speaker 16: if a minister isn't quite over her portfolio.

1079
00:56:11,000 --> 00:56:13,160
Speaker 14: But having said that, mate, I tend to agree.

1080
00:56:13,719 --> 00:56:16,680
Speaker 16: You know, you've got to allow these academic experts the

1081
00:56:16,840 --> 00:56:19,800
Speaker 16: right to say anything and everything, because universities are supposed

1082
00:56:19,800 --> 00:56:21,640
Speaker 16: to be the critic and the conscience of our society.

1083
00:56:22,160 --> 00:56:25,080
Speaker 16: And if you stifle academics from saying whatever they believe,

1084
00:56:25,120 --> 00:56:28,080
Speaker 16: no matter how controversial, then I don't think that's that's

1085
00:56:28,160 --> 00:56:29,120
Speaker 16: particularly sound.

1086
00:56:30,200 --> 00:56:32,840
Speaker 2: Yeah, I agree, Jordan, you obviously will have that opinion.

1087
00:56:32,960 --> 00:56:33,120
Speaker 14: Yeah.

1088
00:56:33,840 --> 00:56:35,520
Speaker 23: I mean this is a big one for the Free

1089
00:56:35,560 --> 00:56:38,920
Speaker 23: Speech Union, and I mean Penny hardly did a very

1090
00:56:38,960 --> 00:56:41,520
Speaker 23: good job of selling the policy to achieve. The difference

1091
00:56:41,719 --> 00:56:44,400
Speaker 23: is that the universe is like to say, you know, oh,

1092
00:56:44,640 --> 00:56:47,080
Speaker 23: academic freedom, we should be able to take whatever position

1093
00:56:47,200 --> 00:56:50,160
Speaker 23: we like, and they ignore the fact no academic freedom

1094
00:56:50,760 --> 00:56:54,560
Speaker 23: is a privilege for the academics. The issue is is

1095
00:56:54,640 --> 00:56:58,240
Speaker 23: that the universities are taking a sort of groupthink approach.

1096
00:56:58,360 --> 00:57:00,839
Speaker 23: For example, you know, Massy taking you are to treaty lead.

1097
00:57:01,120 --> 00:57:03,800
Speaker 23: If you do not agree with us on what it means,

1098
00:57:03,920 --> 00:57:06,120
Speaker 23: then you know you're out. And the thing is is

1099
00:57:06,160 --> 00:57:11,320
Speaker 23: the independent sort of surveys of academics shows there's a problem,

1100
00:57:11,600 --> 00:57:14,719
Speaker 23: and it's you know that it's a surprising number of

1101
00:57:14,760 --> 00:57:17,520
Speaker 23: academics that say I'm not free to speak my mind.

1102
00:57:17,760 --> 00:57:19,840
Speaker 23: That is deeply concerning and that is what this is

1103
00:57:19,880 --> 00:57:20,400
Speaker 23: to address.

1104
00:57:20,480 --> 00:57:24,120
Speaker 2: Yeah. Absolutely, the biggest concern from today is obviously the

1105
00:57:24,240 --> 00:57:29,760
Speaker 2: state of the GDP, which is absolutely worse than any

1106
00:57:29,880 --> 00:57:33,600
Speaker 2: economist was predicting last week. And we've downgraded quarter two

1107
00:57:33,640 --> 00:57:35,400
Speaker 2: as well. I want your reactions to that.

1108
00:57:35,600 --> 00:57:41,480
Speaker 1: Next the huddle with New Zealand Southeby's International Realty Elevated

1109
00:57:41,640 --> 00:57:42,920
Speaker 1: Marketing of your Home.

1110
00:57:43,080 --> 00:57:45,400
Speaker 2: Fourteen to six. On news talks there'd be Jordan Williams,

1111
00:57:45,480 --> 00:57:48,440
Speaker 2: Taxpayers Union, Stuart Nash Form and Labor Cabinet Minister on

1112
00:57:48,480 --> 00:57:51,520
Speaker 2: the huddle tonight. So we've had the GDP number. It's

1113
00:57:51,600 --> 00:57:54,240
Speaker 2: confirmed for quarter three we were down a percent. For

1114
00:57:54,400 --> 00:57:58,000
Speaker 2: quarter two, they've revised from down point two to down

1115
00:57:58,160 --> 00:58:01,600
Speaker 2: one point one, which means we're in the deepest recession

1116
00:58:01,720 --> 00:58:06,360
Speaker 2: outside of lockdowns since nineteen ninety one. Stuart, we can

1117
00:58:06,400 --> 00:58:07,720
Speaker 2: blame you and adri and all for that.

1118
00:58:08,760 --> 00:58:10,280
Speaker 16: I don't think you can do that at all. Right,

1119
00:58:11,080 --> 00:58:15,080
Speaker 16: you know, the genial consensus amongst my business friends is

1120
00:58:15,120 --> 00:58:17,800
Speaker 16: actually Nikola was out of her depth. You know, you

1121
00:58:17,920 --> 00:58:20,160
Speaker 16: had a finance minister come and the first thing she

1122
00:58:20,240 --> 00:58:22,720
Speaker 16: did is borrow fourteen billion dollars and give everyone a

1123
00:58:22,800 --> 00:58:26,120
Speaker 16: tax cut. That every one of my networks, from the

1124
00:58:26,240 --> 00:58:28,720
Speaker 16: far right age Jordan to the far left, said now

1125
00:58:28,880 --> 00:58:30,800
Speaker 16: is not the time. Now's the time to be spending

1126
00:58:30,840 --> 00:58:34,960
Speaker 16: money on you know, cops, nurses, schools, hospitals, et cetera.

1127
00:58:35,160 --> 00:58:38,680
Speaker 16: You can't borrow fourteen billion for tax cuts and expect

1128
00:58:38,720 --> 00:58:41,600
Speaker 16: the economy to be in good shape. The other thing

1129
00:58:41,680 --> 00:58:44,480
Speaker 16: I would say is, you know, if Nikola had come

1130
00:58:44,520 --> 00:58:46,680
Speaker 16: out and said, look, this is my vision for New Zealand,

1131
00:58:46,720 --> 00:58:49,400
Speaker 16: this is where I see us being in twenty thirty,

1132
00:58:49,760 --> 00:58:51,240
Speaker 16: and this is how we're going to get there. But

1133
00:58:51,360 --> 00:58:52,960
Speaker 16: in order to get there, this is what I need

1134
00:58:53,080 --> 00:58:56,040
Speaker 16: to do, then Keywis might go, Okay, I come to

1135
00:58:56,120 --> 00:58:58,480
Speaker 16: see where she's where she's going, where she's heading, and

1136
00:58:58,560 --> 00:58:59,600
Speaker 16: I buy into this vision.

1137
00:59:00,240 --> 00:59:04,520
Speaker 2: But you do you know, but she was handed I mean,

1138
00:59:04,840 --> 00:59:08,080
Speaker 2: the death alone as a proportion of GDP had doubled

1139
00:59:08,520 --> 00:59:10,440
Speaker 2: since pre COVID. I mean, do you not accept that

1140
00:59:10,560 --> 00:59:13,160
Speaker 2: she was given some pretty shoddy books.

1141
00:59:14,560 --> 00:59:17,280
Speaker 16: I look, COVID changed the nature of the box of

1142
00:59:17,360 --> 00:59:18,080
Speaker 16: that there's no doubt.

1143
00:59:18,840 --> 00:59:21,240
Speaker 23: And she's locked. She's locked that in. I mean, she's

1144
00:59:21,280 --> 00:59:23,760
Speaker 23: locked in that post COVID spending.

1145
00:59:23,920 --> 00:59:25,960
Speaker 8: That's the real lie. And you can it's a great thing.

1146
00:59:26,160 --> 00:59:27,680
Speaker 16: She's she's spending more.

1147
00:59:28,040 --> 00:59:31,760
Speaker 8: Yeah, and then.

1148
00:59:31,680 --> 00:59:34,360
Speaker 16: There's actually borrowed fourteen billion for text cuts.

1149
00:59:35,440 --> 00:59:37,200
Speaker 8: I mean as a percentage of the economy that the

1150
00:59:37,320 --> 00:59:39,440
Speaker 8: tax is still going up. You know, we're not. This

1151
00:59:39,600 --> 00:59:42,200
Speaker 8: is not a tax assue. But come on, I mean,

1152
00:59:42,480 --> 00:59:44,280
Speaker 8: it's it's a great but what she could.

1153
00:59:44,120 --> 00:59:46,040
Speaker 16: Have done, what she could have done is what what

1154
00:59:46,280 --> 00:59:49,040
Speaker 16: you know, Michael Cullen did, which most financemanss do when

1155
00:59:49,040 --> 00:59:50,200
Speaker 16: they come from a new government and.

1156
00:59:50,200 --> 00:59:52,280
Speaker 14: Say, oh my god, I've just opened the box. It's

1157
00:59:52,280 --> 00:59:53,280
Speaker 14: a lot worse than I thought.

1158
00:59:53,720 --> 00:59:55,640
Speaker 16: Level were still committed to text cuts, but you know

1159
00:59:55,720 --> 00:59:58,120
Speaker 16: what I mean, but we need to get the economy

1160
00:59:58,160 --> 01:00:00,400
Speaker 16: in shape. We're still committed to text cuts, but we're language.

1161
01:00:00,560 --> 01:00:04,920
Speaker 2: It's not about taxas. This is an overspending and Jordan,

1162
01:00:05,000 --> 01:00:08,280
Speaker 2: you're right in saying that she is continuing basically the

1163
01:00:08,320 --> 01:00:10,160
Speaker 2: middle of the road. You know, I'm going to get

1164
01:00:10,200 --> 01:00:13,840
Speaker 2: re elected as a centrist government next election because she's

1165
01:00:13,920 --> 01:00:16,040
Speaker 2: not cutting as hard and fast as she could, but

1166
01:00:16,200 --> 01:00:17,120
Speaker 2: she argued cut, I.

1167
01:00:17,120 --> 01:00:20,440
Speaker 8: Mean it is, it's the only cut is that she's

1168
01:00:20,520 --> 01:00:22,000
Speaker 8: not growing it as fast.

1169
01:00:22,080 --> 01:00:24,560
Speaker 2: Well, yeah, that is not a cut.

1170
01:00:24,640 --> 01:00:27,080
Speaker 23: And even on I know that labor love the sort

1171
01:00:27,120 --> 01:00:28,760
Speaker 23: of you know this, you know it's a tax cut

1172
01:00:28,800 --> 01:00:32,080
Speaker 23: for landlords, which was just returning interest deductibility, just just

1173
01:00:32,280 --> 01:00:33,920
Speaker 23: absolutely bond as the way that the rest of the

1174
01:00:34,240 --> 01:00:38,000
Speaker 23: whole world does it. You know, let's step back as

1175
01:00:38,000 --> 01:00:41,840
Speaker 23: a proportioning the economy, the tax take is still going up.

1176
01:00:42,000 --> 01:00:45,080
Speaker 23: And Nikola Willis is relying, this was on the budget

1177
01:00:45,120 --> 01:00:46,920
Speaker 23: figures when we were going to get back into surplus

1178
01:00:46,920 --> 01:00:49,120
Speaker 23: before twenty thirty. We're on getting back in the surplus,

1179
01:00:49,160 --> 01:00:51,680
Speaker 23: of course, because they're you know, this funny accounting trick

1180
01:00:51,760 --> 01:00:55,920
Speaker 23: removing the a SEC deficit was to use the very

1181
01:00:56,160 --> 01:00:59,200
Speaker 23: tools that Grant Robinson used, a LAH fiscal drag.

1182
01:00:59,720 --> 01:01:02,640
Speaker 2: Yeah, taxes going up on working his arm books, which

1183
01:01:02,640 --> 01:01:05,280
Speaker 2: is exactly why people wanted the tax cunt because the

1184
01:01:05,440 --> 01:01:07,000
Speaker 2: bracket creep things.

1185
01:01:06,680 --> 01:01:11,760
Speaker 8: Had only scratch the surface, which is the point to it.

1186
01:01:11,840 --> 01:01:14,920
Speaker 2: Your argument is actually you shouldn't have tax cunts. You

1187
01:01:14,960 --> 01:01:17,480
Speaker 2: should have spent that money on public services. I mean,

1188
01:01:17,520 --> 01:01:20,160
Speaker 2: what will we getting them from those public services. That's

1189
01:01:20,240 --> 01:01:21,040
Speaker 2: the problem people have.

1190
01:01:22,120 --> 01:01:24,080
Speaker 16: Well, we know at the moment, you know, Mark Mitchell

1191
01:01:24,200 --> 01:01:26,480
Speaker 16: is trying hard to get five hundred more cops. Completely

1192
01:01:26,560 --> 01:01:28,560
Speaker 16: agree with that. Eric Is Stanford is spending more money

1193
01:01:28,600 --> 01:01:31,960
Speaker 16: on more teachers. Absolutely buy into that. Shane Retti is

1194
01:01:32,080 --> 01:01:34,520
Speaker 16: struggling at the moment because the massive deficits in the

1195
01:01:34,560 --> 01:01:37,280
Speaker 16: health system that all three of those needed overhauling, and

1196
01:01:37,360 --> 01:01:39,240
Speaker 16: all three minutes are working hard to do that, but

1197
01:01:39,320 --> 01:01:42,000
Speaker 16: they just haven't got the money to implement the level

1198
01:01:42,040 --> 01:01:43,080
Speaker 16: of services.

1199
01:01:42,680 --> 01:01:43,640
Speaker 8: That Kiwis expect.

1200
01:01:43,720 --> 01:01:47,120
Speaker 16: But the thing I would says, back to what I

1201
01:01:47,160 --> 01:01:50,320
Speaker 16: would say is I just do not understand what the

1202
01:01:50,480 --> 01:01:52,800
Speaker 16: vision of this government is for our economy. And I

1203
01:01:52,880 --> 01:01:54,520
Speaker 16: just think Nicholas out of her debt, and that is

1204
01:01:54,560 --> 01:01:58,240
Speaker 16: the general consensus of the vast majority of my business friends.

1205
01:01:58,280 --> 01:02:00,800
Speaker 16: We've got to finance it. Doesn't I don't quite get it.

1206
01:02:01,000 --> 01:02:02,640
Speaker 8: My donors are coming to the same conclusion.

1207
01:02:02,840 --> 01:02:03,680
Speaker 2: You know, I think that the.

1208
01:02:06,000 --> 01:02:08,640
Speaker 23: Talking around town, it's quite concerning, and that what the

1209
01:02:08,720 --> 01:02:12,320
Speaker 23: big fearful national should be as if they burned through

1210
01:02:12,520 --> 01:02:15,400
Speaker 23: that credibility of we're far better on the on the economy.

1211
01:02:15,520 --> 01:02:17,880
Speaker 2: Yeah, but what do you wanted to do. If she

1212
01:02:18,040 --> 01:02:20,160
Speaker 2: went and cut like you, like you would have her

1213
01:02:20,240 --> 01:02:24,439
Speaker 2: cut Jordan, then she'd be out on our ear six

1214
01:02:24,520 --> 01:02:26,280
Speaker 2: and you've got and the media would be having a

1215
01:02:26,360 --> 01:02:29,240
Speaker 2: field day. If you spend like Stuart wants to spend.

1216
01:02:29,320 --> 01:02:30,840
Speaker 2: I mean, she's going in the middle of the road.

1217
01:02:30,880 --> 01:02:32,680
Speaker 2: This is what a good politician should be doing.

1218
01:02:33,280 --> 01:02:35,160
Speaker 23: You're right, the media would have a field date. They're

1219
01:02:35,160 --> 01:02:38,200
Speaker 23: having a field like labors in the approxy. I mean

1220
01:02:38,880 --> 01:02:40,680
Speaker 23: I can never tell with the student's post politics or

1221
01:02:40,680 --> 01:02:42,439
Speaker 23: where he's coming back because he's sticking to those labor

1222
01:02:42,480 --> 01:02:43,000
Speaker 23: talking points.

1223
01:02:43,240 --> 01:02:48,520
Speaker 8: She's going to be hambered for for austerity anyway. She

1224
01:02:48,600 --> 01:02:50,520
Speaker 8: should at least do the job so we get out

1225
01:02:50,560 --> 01:02:51,040
Speaker 8: the other side.

1226
01:02:51,040 --> 01:02:51,240
Speaker 19: You can.

1227
01:02:51,680 --> 01:02:52,320
Speaker 2: We're going to move on.

1228
01:02:52,880 --> 01:02:53,600
Speaker 8: Compare it to Ruth.

1229
01:02:53,960 --> 01:02:56,280
Speaker 23: You know, two years before the election and ninety one,

1230
01:02:56,320 --> 01:02:59,520
Speaker 23: the last time the economy was this bad by the

1231
01:02:59,680 --> 01:03:04,880
Speaker 23: end of that term, growth and surplus and inflation under

1232
01:03:04,920 --> 01:03:07,840
Speaker 23: two percent when Jim Bulja sacked there or on this part,

1233
01:03:07,880 --> 01:03:09,160
Speaker 23: there's no way Nickler gets there.

1234
01:03:09,280 --> 01:03:11,880
Speaker 2: And let's talk about inviting friends over it well, not

1235
01:03:12,000 --> 01:03:14,680
Speaker 2: inviting friends over at Christmas time. So do you have

1236
01:03:14,840 --> 01:03:18,400
Speaker 2: this Stuart, where people friends will come over to your house. Actually,

1237
01:03:18,440 --> 01:03:20,440
Speaker 2: I saw in the newspaper you've told everyone where you

1238
01:03:20,560 --> 01:03:23,720
Speaker 2: live a smart thing to do.

1239
01:03:23,920 --> 01:03:24,360
Speaker 14: Come around.

1240
01:03:24,840 --> 01:03:27,640
Speaker 8: Well, look, i'll see you next week's Jane.

1241
01:03:28,280 --> 01:03:30,200
Speaker 16: Yeah, yeah, you're more than welcome. The fridge is full

1242
01:03:30,200 --> 01:03:31,760
Speaker 16: of beer. We love I love people.

1243
01:03:32,600 --> 01:03:34,400
Speaker 8: I call them to Amazon instead usually.

1244
01:03:35,760 --> 01:03:37,720
Speaker 16: Come down to mind. The thing is is that you know,

1245
01:03:37,800 --> 01:03:39,560
Speaker 16: it's always nice to have at least a half an

1246
01:03:39,600 --> 01:03:41,760
Speaker 16: hour call so you can put on the top and

1247
01:03:41,840 --> 01:03:44,720
Speaker 16: some decent shorts. But but you know, Christmas is about relaxing,

1248
01:03:44,800 --> 01:03:47,440
Speaker 16: having a couple of beers with mates and just enjoying themselves.

1249
01:03:47,440 --> 01:03:50,080
Speaker 8: So you make it all summerd you're at home, so

1250
01:03:51,120 --> 01:03:52,720
Speaker 8: what well.

1251
01:03:52,680 --> 01:03:58,040
Speaker 16: Who doesn't. But there's always a cold beer in the

1252
01:03:58,040 --> 01:03:59,840
Speaker 16: French from you, Jordan, Right, there's two for you.

1253
01:04:00,080 --> 01:04:00,200
Speaker 18: Right.

1254
01:04:03,680 --> 01:04:06,680
Speaker 23: The great thing where we are for summer is it's

1255
01:04:06,720 --> 01:04:10,240
Speaker 23: boat excess only, so you can really you know, it's

1256
01:04:10,280 --> 01:04:10,600
Speaker 23: the best.

1257
01:04:11,200 --> 01:04:13,280
Speaker 8: It's the best of both because you know they're great.

1258
01:04:13,360 --> 01:04:14,640
Speaker 8: You know I will come and pick you up and

1259
01:04:14,760 --> 01:04:17,000
Speaker 8: oh yeah there's something wrong with the boat.

1260
01:04:17,320 --> 01:04:26,760
Speaker 16: Not today, you hide away. I welcome him. Come all right,

1261
01:04:27,120 --> 01:04:28,919
Speaker 16: thanks guys, have a good one, mate.

1262
01:04:29,000 --> 01:04:32,320
Speaker 2: Jordan Williams. Taxpayers in the Stuart Nash, former Lady Cabinet

1263
01:04:32,360 --> 01:04:35,600
Speaker 2: minister whose door apparently always open. Seven to six.

1264
01:04:36,480 --> 01:04:39,240
Speaker 1: Red or Blue, Trump or Harris? Who will win the

1265
01:04:39,320 --> 01:04:42,800
Speaker 1: battleground states? The latest on the US election. It's Heather

1266
01:04:42,960 --> 01:04:46,600
Speaker 1: Duplicy Alan Drive with One New Zealand let's get connected.

1267
01:04:49,640 --> 01:04:52,520
Speaker 2: News Talks b It is five away from six coming

1268
01:04:52,600 --> 01:04:54,880
Speaker 2: up after the news six o'clock. When we were talking,

1269
01:04:55,520 --> 01:04:58,120
Speaker 2: well talk a couple of things. MasterCard for a start,

1270
01:04:58,280 --> 01:05:00,400
Speaker 2: you know, we had the Commerce Commission report come out

1271
01:05:00,480 --> 01:05:03,000
Speaker 2: this week and they have put out a proposal to

1272
01:05:03,200 --> 01:05:05,760
Speaker 2: cap some of the credit card fees that we pay.

1273
01:05:06,000 --> 01:05:09,280
Speaker 2: Master Card has come up with a statement and it's

1274
01:05:09,800 --> 01:05:12,520
Speaker 2: sort of surprising what skin they've got in the game.

1275
01:05:12,680 --> 01:05:14,560
Speaker 2: It's not as much as you might think. When I

1276
01:05:14,680 --> 01:05:16,360
Speaker 2: think when I swipe my card and I go, oh

1277
01:05:16,480 --> 01:05:21,040
Speaker 2: those holes, I always think master Card and Visa are

1278
01:05:21,120 --> 01:05:23,560
Speaker 2: making them, you know, must be creaming at making the

1279
01:05:23,600 --> 01:05:25,920
Speaker 2: most of the profit there. But there's also the retailers

1280
01:05:25,960 --> 01:05:28,480
Speaker 2: taking a cup. There's also the banks and actually we'll

1281
01:05:28,520 --> 01:05:31,880
Speaker 2: find out what sheer those master Cards and Visas of

1282
01:05:31,960 --> 01:05:34,560
Speaker 2: the worlds are actually making. That's coming up. Also Liam

1283
01:05:34,600 --> 01:05:37,520
Speaker 2: Dan on our GDP numbers and Jamie McKay for the

1284
01:05:37,600 --> 01:05:42,840
Speaker 2: last time this year on drive loads of feedback about

1285
01:05:42,880 --> 01:05:45,600
Speaker 2: Stuart Nash and Jordan Williams. I thought that was quite

1286
01:05:45,600 --> 01:05:48,560
Speaker 2: a fun chat. I personally, I don't like people coming

1287
01:05:48,600 --> 01:05:52,200
Speaker 2: over to my house, even if you know I invite them.

1288
01:05:54,240 --> 01:05:56,920
Speaker 6: It's like, is it too much of a pain to

1289
01:05:57,000 --> 01:05:58,520
Speaker 6: track down a top and some nice shorts?

1290
01:05:58,680 --> 01:05:58,800
Speaker 13: Right?

1291
01:05:59,560 --> 01:06:02,440
Speaker 2: He's not wrong though, is he? When it's hot you

1292
01:06:02,960 --> 01:06:04,840
Speaker 2: you don't tend to have a lot on inside?

1293
01:06:05,280 --> 01:06:08,120
Speaker 6: Is it just me or quite normal to walk around

1294
01:06:08,120 --> 01:06:08,800
Speaker 6: the house out the show?

1295
01:06:08,960 --> 01:06:11,160
Speaker 2: I think it's quite normal, quite normal. Actually, I've been

1296
01:06:11,200 --> 01:06:13,280
Speaker 2: having a lot of cold showers lately. Have you been

1297
01:06:13,320 --> 01:06:13,560
Speaker 2: doing that?

1298
01:06:13,680 --> 01:06:15,240
Speaker 6: And no, no's lost.

1299
01:06:15,280 --> 01:06:18,040
Speaker 2: A cold shower before bed and you'll sleep. Honestly, it's

1300
01:06:18,040 --> 01:06:18,840
Speaker 2: improved my sleep.

1301
01:06:18,840 --> 01:06:20,520
Speaker 6: I think if you're showing up unannounced, then the person

1302
01:06:20,560 --> 01:06:21,920
Speaker 6: doesn't ever show it on. I mean that's on you,

1303
01:06:22,040 --> 01:06:23,240
Speaker 6: isn't it. I mean you're the one who showed up

1304
01:06:23,280 --> 01:06:23,720
Speaker 6: n announced.

1305
01:06:23,760 --> 01:06:26,040
Speaker 2: Surely, Oh exactly, it's your fault, you know if you

1306
01:06:26,200 --> 01:06:29,480
Speaker 2: cop an ie forall that's on you. News Talk simply.

1307
01:06:34,800 --> 01:06:44,440
Speaker 1: Hell keeping track of where the money is flowing. For

1308
01:06:44,560 --> 01:06:48,320
Speaker 1: the Business Hour with Ryan Bridge and my HR on

1309
01:06:48,480 --> 01:06:49,240
Speaker 1: news Talks.

1310
01:06:49,040 --> 01:06:52,840
Speaker 2: IV Good Evening It a six after Sex will breakdown

1311
01:06:52,880 --> 01:06:55,600
Speaker 2: today's GDP numbers with Liam Dan in just a few moments.

1312
01:06:55,720 --> 01:06:58,880
Speaker 2: Right now, MasterCard is pushing back at the Commerce Commission's

1313
01:06:58,920 --> 01:07:01,440
Speaker 2: plans to put a cap on some credit card fees.

1314
01:07:01,920 --> 01:07:04,920
Speaker 2: Interchange fees are one part of a bunch of charges

1315
01:07:04,920 --> 01:07:07,560
Speaker 2: that the retailers pay, and the Commerce Commission wants to

1316
01:07:07,640 --> 01:07:10,120
Speaker 2: reduce those fees by about two hundred and eighty million

1317
01:07:10,160 --> 01:07:12,160
Speaker 2: dollars a year by introducing a cap on them. But

1318
01:07:12,200 --> 01:07:15,360
Speaker 2: the Commerce Commission says it can't guarantee that the full

1319
01:07:15,440 --> 01:07:17,760
Speaker 2: two hundred and eighty mil will actually be passed on

1320
01:07:17,840 --> 01:07:21,560
Speaker 2: to consumers. Ruth Theyear is master CAD's country manager. Ruth. Hello,

1321
01:07:23,040 --> 01:07:24,840
Speaker 2: Hi Ryan, how are you doing good? Thank you, thanks

1322
01:07:24,880 --> 01:07:28,479
Speaker 2: for coming on the program. So these charges, the interchange fee,

1323
01:07:29,040 --> 01:07:31,040
Speaker 2: do you make a profit off the interchange fee?

1324
01:07:32,280 --> 01:07:36,360
Speaker 10: Nope, So MasterCard doesn't make any money from interchange. Interchange

1325
01:07:36,440 --> 01:07:39,880
Speaker 10: is a really important balancing mechanism for the payments this

1326
01:07:40,040 --> 01:07:46,400
Speaker 10: ecosystem that allows continued investment in experience, in technology, and

1327
01:07:46,520 --> 01:07:47,720
Speaker 10: in safety and security.

1328
01:07:48,040 --> 01:07:51,560
Speaker 2: So the interchange fee is a charge that you use

1329
01:07:51,960 --> 01:07:52,520
Speaker 2: for R and D.

1330
01:07:52,720 --> 01:07:57,160
Speaker 10: Basically, so it's what our partners use for that. So

1331
01:07:57,480 --> 01:08:02,240
Speaker 10: it's paid by the merchants bank, to the card issuers,

1332
01:08:02,600 --> 01:08:07,480
Speaker 10: to the cardholder's bank, and so it balances that the

1333
01:08:07,640 --> 01:08:12,080
Speaker 10: cost of issuing the payment credential with the benefit that

1334
01:08:12,240 --> 01:08:15,560
Speaker 10: the merchant receives from accepting that payment.

1335
01:08:15,760 --> 01:08:17,559
Speaker 2: So who profits off the interchange fee?

1336
01:08:19,120 --> 01:08:22,920
Speaker 10: So the person who issues the card or issues the

1337
01:08:23,000 --> 01:08:25,799
Speaker 10: credential gets that money, and that's.

1338
01:08:26,880 --> 01:08:28,520
Speaker 24: In a great experience.

1339
01:08:28,880 --> 01:08:30,439
Speaker 2: Is that's you right, Master Card?

1340
01:08:31,360 --> 01:08:33,560
Speaker 10: No, so we don't issue any cards. That would be

1341
01:08:33,720 --> 01:08:37,200
Speaker 10: your bank or that would be a fintech so or

1342
01:08:37,280 --> 01:08:39,679
Speaker 10: that would be a you know, a credit card company,

1343
01:08:40,240 --> 01:08:42,799
Speaker 10: and those would be the people who receive that revenue

1344
01:08:42,840 --> 01:08:46,800
Speaker 10: and then they would invest that in a card proposition.

1345
01:08:47,240 --> 01:08:49,440
Speaker 2: So why have you got a problem with the interchange

1346
01:08:49,479 --> 01:08:52,600
Speaker 2: fees being kept by the It is suggested by the ComCom.

1347
01:08:53,600 --> 01:08:56,479
Speaker 10: Because we think it's a really important mechanism in a

1348
01:08:56,560 --> 01:09:01,519
Speaker 10: market to allow for continued innovation. Canntinued investment in safety

1349
01:09:01,560 --> 01:09:07,559
Speaker 10: and security, continued investment in experience, And what the Commerce

1350
01:09:07,560 --> 01:09:10,920
Speaker 10: Commission is suggesting is hollowing that out, and that will

1351
01:09:11,000 --> 01:09:14,880
Speaker 10: make the business case for investing in new products and

1352
01:09:14,960 --> 01:09:17,760
Speaker 10: services much harder. It will make the business case for

1353
01:09:17,880 --> 01:09:20,920
Speaker 10: investing in new payment types like open banking much harder.

1354
01:09:21,800 --> 01:09:25,240
Speaker 10: So we're really clear that there's these unintended consequences of

1355
01:09:25,400 --> 01:09:26,479
Speaker 10: what's being proposed.

1356
01:09:26,880 --> 01:09:30,720
Speaker 2: How does MasterCard make money off transactions? You know, when

1357
01:09:30,800 --> 01:09:33,639
Speaker 2: I go to the deary and swipe my card, where

1358
01:09:33,640 --> 01:09:34,720
Speaker 2: are you making your cut?

1359
01:09:36,120 --> 01:09:39,400
Speaker 10: Yeah, so we make money as the transaction is processed

1360
01:09:39,520 --> 01:09:42,880
Speaker 10: by our network, and that's separate to interchange fees.

1361
01:09:43,080 --> 01:09:43,960
Speaker 2: It's a surcharge.

1362
01:09:44,040 --> 01:09:49,880
Speaker 10: Ryan, So surcharge is what a what a merchant would

1363
01:09:50,680 --> 01:09:55,000
Speaker 10: would charge the person making the payment for that payment,

1364
01:09:55,080 --> 01:09:58,320
Speaker 10: and some of that would be used to cover interchange

1365
01:09:58,439 --> 01:10:01,960
Speaker 10: and scheme fees and the fees from the bank of

1366
01:10:02,120 --> 01:10:02,679
Speaker 10: the merchant.

1367
01:10:03,160 --> 01:10:06,479
Speaker 2: Right, So your fee that you tack on, what's your fee?

1368
01:10:06,520 --> 01:10:07,920
Speaker 2: If you know, if I went and bought a can

1369
01:10:08,040 --> 01:10:10,040
Speaker 2: of coke or something, what does master Card get.

1370
01:10:11,320 --> 01:10:14,880
Speaker 10: Yeah, it's a really small proportion of the overall cost

1371
01:10:15,160 --> 01:10:18,519
Speaker 10: for a merchant. So it would be you know, a

1372
01:10:18,600 --> 01:10:22,680
Speaker 10: fraction of what that interchange component would be or the

1373
01:10:23,120 --> 01:10:26,960
Speaker 10: fee that the the retailer's bank would be charging.

1374
01:10:27,439 --> 01:10:29,560
Speaker 2: So it's a fraction of the interchange fee. So you

1375
01:10:29,960 --> 01:10:31,599
Speaker 2: do get some of the interchange fee.

1376
01:10:32,560 --> 01:10:35,200
Speaker 10: No, sorry, I just meant proportionally, so we don't get

1377
01:10:35,439 --> 01:10:37,040
Speaker 10: Do you know what is the fraction? Do you know

1378
01:10:38,320 --> 01:10:41,400
Speaker 10: it would vary based on based on the transaction as

1379
01:10:41,439 --> 01:10:49,080
Speaker 10: a percentage A small percentage, one, two percent, zero point three,

1380
01:10:49,280 --> 01:10:51,759
Speaker 10: under ten percent, under ten percent.

1381
01:10:53,240 --> 01:10:55,519
Speaker 2: That's that's quite a lot. I mean that that that

1382
01:10:55,720 --> 01:10:58,000
Speaker 2: range is quite big. Do you mean up to ten

1383
01:10:58,040 --> 01:11:01,200
Speaker 2: percent of the overall fee that are charged or do

1384
01:11:01,280 --> 01:11:02,680
Speaker 2: you mean up to ten percent of the cost of

1385
01:11:02,760 --> 01:11:03,040
Speaker 2: the good?

1386
01:11:04,880 --> 01:11:04,920
Speaker 9: No?

1387
01:11:05,080 --> 01:11:10,800
Speaker 10: No, no, no sorry, no, not of the total good,

1388
01:11:10,840 --> 01:11:15,960
Speaker 10: of the total overall costs that might be paid, So

1389
01:11:16,200 --> 01:11:19,520
Speaker 10: very small proportion of the overall costs.

1390
01:11:19,320 --> 01:11:22,560
Speaker 2: Right, So up to ten percent of the fees that

1391
01:11:22,720 --> 01:11:26,080
Speaker 2: we pay for using cards at shops for the convenience.

1392
01:11:27,200 --> 01:11:27,880
Speaker 1: Yeah, okay.

1393
01:11:29,439 --> 01:11:32,240
Speaker 2: So the Commerce Commission seems kind of hell bent on

1394
01:11:32,360 --> 01:11:36,080
Speaker 2: doing this, making this change, and they have kept it

1395
01:11:36,160 --> 01:11:39,360
Speaker 2: once before. What do you think the effect will be?

1396
01:11:39,520 --> 01:11:43,280
Speaker 2: Will we actually get cheaper? Will it make transactions cheaper

1397
01:11:43,360 --> 01:11:44,520
Speaker 2: for us as consumers?

1398
01:11:45,960 --> 01:11:48,639
Speaker 10: We haven't seen that play out in any other market.

1399
01:11:48,840 --> 01:11:52,719
Speaker 10: And what the Commerce Commission said was that by capping

1400
01:11:52,760 --> 01:11:55,960
Speaker 10: inter change fees so excuse me, surcharges would come down.

1401
01:11:56,560 --> 01:11:59,800
Speaker 10: And they capped interchange or they brought interchange down to

1402
01:12:00,080 --> 01:12:02,640
Speaker 10: years ago, and I think you speak to any key

1403
01:12:02,680 --> 01:12:05,840
Speaker 10: we and they would say that surcharging has not gone down.

1404
01:12:06,880 --> 01:12:10,519
Speaker 10: So it's really clear that surcharging won't come down as

1405
01:12:10,560 --> 01:12:15,280
Speaker 10: a result of capping interchange. So what I think we

1406
01:12:15,400 --> 01:12:17,680
Speaker 10: can see, what you can expect to see as a

1407
01:12:17,760 --> 01:12:21,840
Speaker 10: consumer or as a cardholder, is that you'll be surcharged

1408
01:12:22,080 --> 01:12:28,120
Speaker 10: more often, and that by taking away this amount of interchange,

1409
01:12:28,120 --> 01:12:31,360
Speaker 10: which as we've said, is a balancing mechanism between the

1410
01:12:31,439 --> 01:12:35,200
Speaker 10: two sides of the ecosystem, consumers will pay for that

1411
01:12:35,360 --> 01:12:37,519
Speaker 10: in other ways because that investment will still need.

1412
01:12:37,439 --> 01:12:37,880
Speaker 24: To be made.

1413
01:12:38,840 --> 01:12:40,920
Speaker 2: Seems like we always pay for everything, doesn't that. Ruth,

1414
01:12:40,960 --> 01:12:44,080
Speaker 2: thank you very much for that. That's Ruth River, Mastercard's

1415
01:12:44,120 --> 01:12:46,439
Speaker 2: country manager, the Commerce Commission for just joining us. They

1416
01:12:46,479 --> 01:12:48,240
Speaker 2: wanted to put a cap on some parts of the

1417
01:12:48,280 --> 01:12:52,360
Speaker 2: credit card vies that we're charged basically the gisters. We're

1418
01:12:52,400 --> 01:12:55,479
Speaker 2: not according to the industry, we're not actually going to

1419
01:12:55,600 --> 01:13:00,320
Speaker 2: save anything in terms of fees and surcharges. They'll just

1420
01:13:00,439 --> 01:13:03,360
Speaker 2: whack up. You push this fee down, they'll whack another

1421
01:13:03,439 --> 01:13:05,120
Speaker 2: one up. I mean, are we ever going to get

1422
01:13:05,120 --> 01:13:07,360
Speaker 2: around this? Problem, don't know, tell me what you think.

1423
01:13:07,439 --> 01:13:10,639
Speaker 2: Nineteen ninety two. It is thirteen minutes after six. We're

1424
01:13:10,680 --> 01:13:13,080
Speaker 2: going to talk to Liam Dan next. He's your man

1425
01:13:13,280 --> 01:13:15,800
Speaker 2: with the inside word on what is going on with

1426
01:13:15,920 --> 01:13:19,920
Speaker 2: our GDP and why the numbers, particularly for quarter two

1427
01:13:20,080 --> 01:13:24,120
Speaker 2: so drastically different to what was originally put out by

1428
01:13:24,600 --> 01:13:25,200
Speaker 2: stats n Z.

1429
01:13:26,040 --> 01:13:29,080
Speaker 1: Analysis from the experts bringing you everything you need to

1430
01:13:29,160 --> 01:13:31,960
Speaker 1: know on the US selection. It's The Business Hour with

1431
01:13:32,160 --> 01:13:35,560
Speaker 1: Heather Duplicy, Allen and my HR The HR Solution for

1432
01:13:35,680 --> 01:13:41,960
Speaker 1: Busy SMEs, News Talks EDB crunching the numbers and getting

1433
01:13:42,000 --> 01:13:45,960
Speaker 1: the results. It's Ryan Bridge with the Business Hour thanks

1434
01:13:46,000 --> 01:13:49,880
Speaker 1: to my HR The HR Solution for Busy SMS on

1435
01:13:50,080 --> 01:13:50,920
Speaker 1: News talks EDB.

1436
01:13:51,160 --> 01:13:54,439
Speaker 2: It is sixteen after six News Talks EDB. Lots of

1437
01:13:54,520 --> 01:13:57,320
Speaker 2: feedback on MasterCard. We just spoke to them about fees

1438
01:13:57,400 --> 01:13:59,280
Speaker 2: that the Commerce Commissioner is trying to crack down on

1439
01:13:59,479 --> 01:14:02,680
Speaker 2: and we're you heard from MasterCard after our interview they

1440
01:14:02,760 --> 01:14:05,360
Speaker 2: have got in touch to say, actually we don't make

1441
01:14:05,800 --> 01:14:07,599
Speaker 2: I think the number she gave us up to ten

1442
01:14:07,720 --> 01:14:10,479
Speaker 2: percent on a transaction and they wanted to say, hey,

1443
01:14:11,120 --> 01:14:13,280
Speaker 2: your example, you gave us a can of coke at

1444
01:14:13,360 --> 01:14:16,800
Speaker 2: the dairy. They say the proportion of a merchant acceptance

1445
01:14:16,880 --> 01:14:20,000
Speaker 2: cost that translates on average to about zero point two

1446
01:14:20,120 --> 01:14:24,400
Speaker 2: percent of a typical transaction. I think that is gobbled

1447
01:14:24,479 --> 01:14:26,280
Speaker 2: the goook speak for them trying to say that they

1448
01:14:26,400 --> 01:14:31,560
Speaker 2: take a zero point two percent cut on fees on

1449
01:14:31,760 --> 01:14:35,759
Speaker 2: surcharges whenever you swipe your MasterCard to get a Coca

1450
01:14:35,800 --> 01:14:39,240
Speaker 2: cola or whatever at the dairy. Lots of feedback on this, Ryan.

1451
01:14:39,280 --> 01:14:41,839
Speaker 2: We're a national F and B group and immediately reduced

1452
01:14:41,880 --> 01:14:44,640
Speaker 2: our surcharge from two percent to one percent when the

1453
01:14:44,760 --> 01:14:47,560
Speaker 2: laws changed last year, which is interesting because that was

1454
01:14:47,600 --> 01:14:50,320
Speaker 2: a commerce commission move. Anyone who didn't pass on the

1455
01:14:50,400 --> 01:14:54,640
Speaker 2: savings to their customers says this text is simply taking advantage.

1456
01:14:54,760 --> 01:15:00,639
Speaker 2: Seventeen after six Bryan Bridge, and we're going to our

1457
01:15:01,280 --> 01:15:07,000
Speaker 2: business man, Liam Dan. Liam, good to have you on

1458
01:15:07,080 --> 01:15:10,559
Speaker 2: this show, GDP. This is a big story today. We've

1459
01:15:10,560 --> 01:15:12,400
Speaker 2: been talking about it all afternoon, as I'm sure you've

1460
01:15:12,400 --> 01:15:15,280
Speaker 2: been writing about it all day. So one percent down

1461
01:15:15,400 --> 01:15:18,679
Speaker 2: for quarter three and then we had a revised quarter

1462
01:15:18,800 --> 01:15:20,599
Speaker 2: two number one point one.

1463
01:15:21,640 --> 01:15:23,360
Speaker 24: Yeah, so it's actually a weird one. You know, the

1464
01:15:23,439 --> 01:15:24,800
Speaker 24: more you look at it, it looked, you know, the

1465
01:15:24,880 --> 01:15:27,760
Speaker 24: initial reaction was holy heck, this is really ugly, and

1466
01:15:27,880 --> 01:15:31,680
Speaker 24: it was. But then you look at the revisions and

1467
01:15:31,760 --> 01:15:34,200
Speaker 24: so it turns out that in twenty twenty three we

1468
01:15:34,320 --> 01:15:38,080
Speaker 24: never had a recession according to these numbers. And then

1469
01:15:38,720 --> 01:15:42,439
Speaker 24: actually the economy, according to the economists some reading is

1470
01:15:43,439 --> 01:15:47,240
Speaker 24: slightly bigger than across the last two years, has grown

1471
01:15:47,280 --> 01:15:51,360
Speaker 24: slightly more than originally forecast and then was forecast save

1472
01:15:51,520 --> 01:15:56,200
Speaker 24: and in the June numbers. So it is like it's

1473
01:15:56,240 --> 01:15:58,280
Speaker 24: a very gloomy thing to happen right before Christmas. We

1474
01:15:58,320 --> 01:16:01,160
Speaker 24: had that awful half year economic update from the government

1475
01:16:01,200 --> 01:16:05,200
Speaker 24: and treasury as well. But I just think it's important

1476
01:16:05,240 --> 01:16:07,080
Speaker 24: at this point in time to put it in context

1477
01:16:07,160 --> 01:16:10,160
Speaker 24: and go, hey, this has already happened, so this is historic.

1478
01:16:11,160 --> 01:16:14,040
Speaker 24: It really just tells us that how bad it felt

1479
01:16:14,600 --> 01:16:17,280
Speaker 24: in the middle of the year, you know, and lines

1480
01:16:17,360 --> 01:16:19,439
Speaker 24: up a bit more with the anecdotes and about about

1481
01:16:19,479 --> 01:16:23,519
Speaker 24: how bad things were. But it doesn't kind of change

1482
01:16:23,600 --> 01:16:29,240
Speaker 24: reality in our world, and the economists are still pretty optimistic.

1483
01:16:28,800 --> 01:16:30,760
Speaker 16: That this was the worst of it.

1484
01:16:30,920 --> 01:16:32,719
Speaker 24: So I don't know, I might be clutching et straws

1485
01:16:32,760 --> 01:16:34,120
Speaker 24: and I'm trying to be a bit optimistic as we

1486
01:16:34,240 --> 01:16:34,960
Speaker 24: hit into Christmas.

1487
01:16:35,040 --> 01:16:37,000
Speaker 2: Well, we certainly need it. I mean the number was

1488
01:16:37,120 --> 01:16:41,240
Speaker 2: quite shocking and and the revised number, you know, equally shocking.

1489
01:16:41,720 --> 01:16:44,320
Speaker 2: We had Stephen Joyce on earlier he reckons and he

1490
01:16:44,479 --> 01:16:47,320
Speaker 2: said that adrianaw has a lot of questions to answer

1491
01:16:47,400 --> 01:16:50,080
Speaker 2: now he's overcooked the correction. Do you agree with that?

1492
01:16:51,120 --> 01:16:52,720
Speaker 24: Well, I mean, I guess that is something that you've

1493
01:16:52,720 --> 01:16:55,640
Speaker 24: got to ask. I mean that they we were all

1494
01:16:55,720 --> 01:16:58,280
Speaker 24: screaming for inflation to be taken out. I've got to say,

1495
01:16:58,720 --> 01:17:03,719
Speaker 24: including Stephen Joyce, everyone wanted to see them really hammer inflation,

1496
01:17:03,960 --> 01:17:08,439
Speaker 24: and so they've they've gone really hard. Look it may

1497
01:17:08,560 --> 01:17:11,880
Speaker 24: it's certainly going to raise calls for some economists are

1498
01:17:11,880 --> 01:17:14,479
Speaker 24: saying we need to go seventy five basis points for

1499
01:17:14,560 --> 01:17:17,800
Speaker 24: the next cut, get it down faster. Yeah, I mean,

1500
01:17:17,920 --> 01:17:20,000
Speaker 24: I guess there's an argument there. I do think it

1501
01:17:20,120 --> 01:17:22,280
Speaker 24: is important to look at what's happened to these numbers

1502
01:17:22,320 --> 01:17:24,360
Speaker 24: and what's happening at stats n Z. It is a

1503
01:17:24,439 --> 01:17:27,960
Speaker 24: really odd one. You know, they've done a lot of seat,

1504
01:17:28,000 --> 01:17:30,840
Speaker 24: they've had to rework all their seasonal adjustments, and you've

1505
01:17:30,880 --> 01:17:34,120
Speaker 24: now got economists saying that the next quarter might look

1506
01:17:34,160 --> 01:17:37,760
Speaker 24: really strong, stronger than it really matches up with their

1507
01:17:37,800 --> 01:17:41,920
Speaker 24: real world experience. So I'd put a caveat around the

1508
01:17:42,080 --> 01:17:44,479
Speaker 24: GDP numbers for a little while. In fact, they always

1509
01:17:44,479 --> 01:17:46,519
Speaker 24: seem to be revised, and I try to put caveats

1510
01:17:46,520 --> 01:17:47,840
Speaker 24: around it, and I have to write the story with

1511
01:17:47,920 --> 01:17:51,400
Speaker 24: the horrible headline when it all breaks, of course, But yeah,

1512
01:17:51,880 --> 01:17:53,240
Speaker 24: I think I think we've got to be a bit careful.

1513
01:17:53,320 --> 01:17:56,960
Speaker 24: I use the analogy of if you survive a hurricane

1514
01:17:57,160 --> 01:18:01,080
Speaker 24: and you thought you're surviving a category forhurricane and you

1515
01:18:01,200 --> 01:18:02,880
Speaker 24: get through it, and then someone tells you you've just

1516
01:18:02,880 --> 01:18:06,679
Speaker 24: survived a Category five hurricane, you know you shouldn't really

1517
01:18:06,760 --> 01:18:09,400
Speaker 24: feel any worse. You should possibly feel a little better

1518
01:18:09,479 --> 01:18:12,400
Speaker 24: that you've got through it. So, I mean, everyone was

1519
01:18:12,479 --> 01:18:14,360
Speaker 24: pretty glum in the middle of the year, and maybe

1520
01:18:14,400 --> 01:18:17,439
Speaker 24: the numbers didn't seem that bad, and now we know

1521
01:18:17,560 --> 01:18:19,479
Speaker 24: it was that bad. So look, you know, fair play

1522
01:18:19,520 --> 01:18:22,040
Speaker 24: to guys like Joyce and a few other commentators who

1523
01:18:22,080 --> 01:18:24,360
Speaker 24: were saying that this is the worse since ninety one.

1524
01:18:24,680 --> 01:18:26,559
Speaker 24: It does appear to be the worse since ninety one,

1525
01:18:27,600 --> 01:18:30,920
Speaker 24: But I think, you know, there is some cause for

1526
01:18:30,960 --> 01:18:35,040
Speaker 24: optimism inflation under control, some growth coming our way. I

1527
01:18:35,120 --> 01:18:38,719
Speaker 24: know there's a whole bigger story about actually reinventing their economy,

1528
01:18:38,760 --> 01:18:42,840
Speaker 24: transforming it, getting some productivity going, and finding some real growth.

1529
01:18:42,920 --> 01:18:45,719
Speaker 24: But regardless of that, it does look like twenty twenty

1530
01:18:45,760 --> 01:18:48,120
Speaker 24: five is going to look better, So that story hasn't changed.

1531
01:18:48,400 --> 01:18:53,200
Speaker 2: Do we not rely on these on GDP figures going forward? Then?

1532
01:18:53,640 --> 01:18:53,680
Speaker 19: Like?

1533
01:18:53,800 --> 01:18:55,800
Speaker 2: How did they get the quarter two numbers so wrong?

1534
01:18:55,960 --> 01:18:58,839
Speaker 2: And the seasonally adjusted thing that you're talking about, what's

1535
01:18:58,880 --> 01:18:59,559
Speaker 2: going on there?

1536
01:19:00,200 --> 01:19:02,200
Speaker 24: Well, from what I can see, and I'm doing a

1537
01:19:02,280 --> 01:19:05,439
Speaker 24: lot of reading, it's that there was a lot of

1538
01:19:06,040 --> 01:19:09,439
Speaker 24: COVID really throughout all the things that they revised. They

1539
01:19:09,520 --> 01:19:12,320
Speaker 24: do a revision of methodology in the third Every third

1540
01:19:12,400 --> 01:19:14,920
Speaker 24: quarter there's a big revision of methodology, and that's good practice.

1541
01:19:14,960 --> 01:19:16,920
Speaker 24: You want to make sure it all it's all good.

1542
01:19:17,040 --> 01:19:20,640
Speaker 24: But they've found that there's seasonal there's seasonal adjustments that

1543
01:19:20,680 --> 01:19:22,599
Speaker 24: they do to try and keep it all and tick

1544
01:19:24,640 --> 01:19:27,920
Speaker 24: we're out, and they've had to redo those quite substantially.

1545
01:19:29,000 --> 01:19:32,560
Speaker 24: It's kind of the case that they've kind of like

1546
01:19:33,000 --> 01:19:35,640
Speaker 24: they know how much the economy has grown, but how

1547
01:19:35,720 --> 01:19:39,040
Speaker 24: they are proportionate across each quarter has been out of whack,

1548
01:19:39,200 --> 01:19:42,360
Speaker 24: and so now you have the data for that middle

1549
01:19:42,360 --> 01:19:45,759
Speaker 24: of the year looking more like what people were seeing,

1550
01:19:45,840 --> 01:19:49,680
Speaker 24: and things like the production of manufacturing statistics and some

1551
01:19:49,760 --> 01:19:54,120
Speaker 24: of that more minuted data looked really grim and then

1552
01:19:54,240 --> 01:19:56,599
Speaker 24: so now these GDP numbers match that, So they're sort

1553
01:19:56,600 --> 01:19:58,439
Speaker 24: of starting to get it back in line, I hope,

1554
01:19:58,720 --> 01:20:01,880
Speaker 24: But it does remind that some of these things. First

1555
01:20:01,880 --> 01:20:04,040
Speaker 24: of all, GDP is a very tough thing to measure.

1556
01:20:04,080 --> 01:20:08,559
Speaker 24: It's every single bit of action that happens in the economy.

1557
01:20:08,600 --> 01:20:10,840
Speaker 24: Everything we make, everything we do, everything we spend, So

1558
01:20:10,960 --> 01:20:13,880
Speaker 24: that's always tough, and it's been particularly tough in the

1559
01:20:13,960 --> 01:20:18,880
Speaker 24: past two or three years. One would hope that we

1560
01:20:19,000 --> 01:20:21,639
Speaker 24: can rely on them for the trend, but I would

1561
01:20:21,680 --> 01:20:24,040
Speaker 24: always say there's a caveat on that initial number when

1562
01:20:24,080 --> 01:20:26,800
Speaker 24: it comes out, and be a bit wary of you

1563
01:20:27,080 --> 01:20:30,639
Speaker 24: worrying too much about technical recessions. We know that we're

1564
01:20:30,680 --> 01:20:33,000
Speaker 24: in a you know, we know when we're in a downturn.

1565
01:20:33,200 --> 01:20:36,040
Speaker 24: We know when things are going bad, and look look

1566
01:20:36,040 --> 01:20:38,920
Speaker 24: at measures like the jobs lost and the business is

1567
01:20:38,960 --> 01:20:40,559
Speaker 24: closing down, all that sort of stuff. If you want

1568
01:20:40,600 --> 01:20:43,680
Speaker 24: to see real hard data and what's happening in the

1569
01:20:43,760 --> 01:20:44,200
Speaker 24: real world.

1570
01:20:44,960 --> 01:20:47,240
Speaker 2: Just walk down the street in main Street. You can

1571
01:20:47,320 --> 01:20:49,080
Speaker 2: see it too, Liam, can't you? Thank you very much

1572
01:20:49,120 --> 01:20:51,400
Speaker 2: for that run down lamb down New Zellen Herald Business

1573
01:20:51,560 --> 01:20:54,000
Speaker 2: Editor at Large. It is twenty three up to six.

1574
01:20:55,840 --> 01:20:59,040
Speaker 1: The Rural Report on hither Doer see Allen Drive.

1575
01:21:00,080 --> 01:21:02,519
Speaker 2: It is twenty five after sixties Talk zeb B. It

1576
01:21:02,600 --> 01:21:05,240
Speaker 2: is time to wrap the year in Rural New Zealand

1577
01:21:05,240 --> 01:21:07,800
Speaker 2: with Jamie McKay, host of the Country. Good evening, Jamie,

1578
01:21:08,439 --> 01:21:10,479
Speaker 2: Good day, Ryan, good to have you back on. Who

1579
01:21:10,720 --> 01:21:13,080
Speaker 2: is your will start with the person of the Year,

1580
01:21:13,120 --> 01:21:15,479
Speaker 2: your ag Person of the Year for twenty twenty four.

1581
01:21:16,320 --> 01:21:18,920
Speaker 19: Well, I'm keeping my powder dry till tomorrow my last

1582
01:21:18,960 --> 01:21:22,000
Speaker 19: show of the year, Ryan, and I will name my man.

1583
01:21:22,120 --> 01:21:24,800
Speaker 19: So I'm not giving you, I'm not letting you still

1584
01:21:24,880 --> 01:21:27,120
Speaker 19: with thunder there, but I'll tell you who I've been

1585
01:21:27,160 --> 01:21:29,559
Speaker 19: asking all my regulars, and the sins to the field

1586
01:21:29,600 --> 01:21:32,479
Speaker 19: seems to be narrowed down for three miles Hurral Fonterira

1587
01:21:33,120 --> 01:21:36,439
Speaker 19: Chief Executive of the Year, Fonterra Company of the Year,

1588
01:21:36,840 --> 01:21:40,640
Speaker 19: Todd McLay, Trade and Ag Minister. I've been everywhere man

1589
01:21:41,280 --> 01:21:43,479
Speaker 19: and he really has He's got off his backside, and

1590
01:21:43,560 --> 01:21:47,040
Speaker 19: he has traveled the world in search of trade opportunity

1591
01:21:47,120 --> 01:21:48,960
Speaker 19: and the other one, and he's become a bit of

1592
01:21:49,000 --> 01:21:51,400
Speaker 19: a regular over the past year or two. Is Wayne Langford,

1593
01:21:51,479 --> 01:21:54,560
Speaker 19: the president of the Federated Farmers, so he's had his

1594
01:21:54,720 --> 01:21:59,280
Speaker 19: restoring confidence tour with the PM. Federated Farmers had eleven

1595
01:21:59,439 --> 01:22:03,160
Speaker 19: out of twelve of their policy priorities achieved. That's a

1596
01:22:03,200 --> 01:22:06,400
Speaker 19: big tick in anyone's book. They're onto the banking inquiry.

1597
01:22:06,479 --> 01:22:09,240
Speaker 19: They've even ranked the banks this year, Ravo Banks the

1598
01:22:09,320 --> 01:22:11,320
Speaker 19: best and being z is the worst.

1599
01:22:12,000 --> 01:22:12,200
Speaker 16: Yeah.

1600
01:22:12,280 --> 01:22:15,040
Speaker 2: Interesting because you took a bit of a credibility hitting

1601
01:22:15,040 --> 01:22:17,080
Speaker 2: the eyes of some farmers, didn't it, say he's obviously

1602
01:22:17,479 --> 01:22:20,640
Speaker 2: I'm doing some way to repair that. What about the

1603
01:22:20,760 --> 01:22:22,120
Speaker 2: are you going to let us in on you know,

1604
01:22:22,320 --> 01:22:24,920
Speaker 2: which sectors in particular you're going to rank and how

1605
01:22:24,960 --> 01:22:25,840
Speaker 2: they've done for the year.

1606
01:22:26,560 --> 01:22:28,880
Speaker 19: Yeah, no, this is no secret, Ryan, I've prepared this.

1607
01:22:29,120 --> 01:22:31,800
Speaker 19: This is something I've prepared especially for you. So I've

1608
01:22:31,840 --> 01:22:33,800
Speaker 19: given them, I've done the hosking. You see, I'm trying

1609
01:22:33,840 --> 01:22:36,560
Speaker 19: to be more like Mike. I've marked the week, so

1610
01:22:36,680 --> 01:22:38,760
Speaker 19: I've marked the year. So here you go, out of

1611
01:22:38,840 --> 01:22:42,639
Speaker 19: ten derry nine out of ten ten dollars. Here here

1612
01:22:42,720 --> 01:22:47,160
Speaker 19: we come horticulture of seven with a week caveat the

1613
01:22:47,280 --> 01:22:50,000
Speaker 19: Kiwi fruits probably an eight. Is that are we doing?

1614
01:22:50,120 --> 01:22:50,920
Speaker 10: Is they to be there?

1615
01:22:51,200 --> 01:22:52,360
Speaker 19: Are you adding to the acasi?

1616
01:22:52,600 --> 01:22:54,800
Speaker 2: I think? And is adding some bells and whistles to

1617
01:22:54,840 --> 01:22:55,280
Speaker 2: your account?

1618
01:22:55,320 --> 01:22:55,479
Speaker 14: Down?

1619
01:22:56,960 --> 01:23:01,519
Speaker 19: Bugger off at it's really annoying me. Okay, So beef,

1620
01:23:01,920 --> 01:23:05,000
Speaker 19: I'll give an eight. We've got record prices for beef,

1621
01:23:05,280 --> 01:23:07,760
Speaker 19: especially in the US, the lamb and mutton, the ol

1622
01:23:07,840 --> 01:23:10,320
Speaker 19: sheep meat has been a bit more problematical all bet.

1623
01:23:10,400 --> 01:23:13,120
Speaker 19: It's on an upward plane, but it's been reasonably depressed.

1624
01:23:13,160 --> 01:23:15,439
Speaker 19: I'm only giving it a four and a four maybe

1625
01:23:15,479 --> 01:23:18,240
Speaker 19: a four in a but forestry also only gets a four.

1626
01:23:18,360 --> 01:23:21,880
Speaker 19: That we've had depressed log prices. We've obviously had the

1627
01:23:21,960 --> 01:23:25,920
Speaker 19: bad slash publicity around cyclone Gabrielle. But the good news

1628
01:23:26,000 --> 01:23:29,040
Speaker 19: for forestry is it is on the improve and it

1629
01:23:29,240 --> 01:23:31,960
Speaker 19: can clip the ticket on carbon credits. One of the

1630
01:23:33,160 --> 01:23:36,120
Speaker 19: exciting one. Not newcomers, but certainly it's doing very well

1631
01:23:36,160 --> 01:23:38,840
Speaker 19: at the moment of seafood and aquaculture. I've given that

1632
01:23:39,000 --> 01:23:43,240
Speaker 19: a good solid eight. Robust demand tights a global supply

1633
01:23:43,439 --> 01:23:46,080
Speaker 19: helping their wall is the problem child really of the

1634
01:23:46,160 --> 01:23:48,960
Speaker 19: primary sector. Ryan, across the board. I've given them the

1635
01:23:49,040 --> 01:23:51,280
Speaker 19: three and that's only because fine walls dragging it up.

1636
01:23:51,840 --> 01:23:55,120
Speaker 19: Strong wall, which is most of our wall. Strong crossbred

1637
01:23:55,160 --> 01:23:57,599
Speaker 19: wall gets a one. Really it might get a one

1638
01:23:57,640 --> 01:24:00,400
Speaker 19: and a half. It still costs many farmers more to

1639
01:24:00,520 --> 01:24:03,000
Speaker 19: share this sheep than they get for the wall. That

1640
01:24:03,200 --> 01:24:05,720
Speaker 19: is not a sustainable proposition.

1641
01:24:05,880 --> 01:24:06,320
Speaker 14: So there you go.

1642
01:24:06,520 --> 01:24:09,320
Speaker 19: That's me marking the year for farming.

1643
01:24:09,360 --> 01:24:13,000
Speaker 2: Brilliant and no sound effects required for Jamie McKay, Thank

1644
01:24:13,000 --> 01:24:15,360
Speaker 2: you very much, Jamie Host of the country. Here on

1645
01:24:15,400 --> 01:24:18,080
Speaker 2: News Talks. It'd be twenty nine minutes after six still

1646
01:24:18,120 --> 01:24:20,600
Speaker 2: to come Indo Brady out of the UK. Plus we

1647
01:24:20,720 --> 01:24:24,519
Speaker 2: look at the FED cut over in the US they've

1648
01:24:24,640 --> 01:24:26,840
Speaker 2: done another quarter. Sam Dickey up next.

1649
01:24:32,760 --> 01:24:36,479
Speaker 1: Whether it's macro micro or just plain economics, it's all

1650
01:24:36,560 --> 01:24:40,000
Speaker 1: on the Business Hour with Ryan Bridge and my HR

1651
01:24:40,320 --> 01:24:44,320
Speaker 1: the HR solution for busy SMEs News Talks AB in

1652
01:24:44,479 --> 01:24:44,800
Speaker 1: the b.

1653
01:25:01,040 --> 01:25:04,800
Speaker 2: Welcome back everyone. Twenty three minutes away from seven News Talks.

1654
01:25:04,840 --> 01:25:07,080
Speaker 2: They'd be been quite a tumultuous here in the markets.

1655
01:25:07,400 --> 01:25:10,080
Speaker 2: A fair number of hits and missus Sam Dickey from

1656
01:25:10,120 --> 01:25:12,160
Speaker 2: Fisher Funds is well, then run through it, Sam. Good

1657
01:25:12,200 --> 01:25:12,680
Speaker 2: evening to you.

1658
01:25:13,080 --> 01:25:14,160
Speaker 25: Good evening, Ryan.

1659
01:25:14,560 --> 01:25:16,200
Speaker 2: We'll get to that in just a second. Be first,

1660
01:25:16,240 --> 01:25:19,479
Speaker 2: the Fed has decided to cut, and the markets have

1661
01:25:19,600 --> 01:25:22,160
Speaker 2: reacted quite strongly. They don't like it, but not because

1662
01:25:22,160 --> 01:25:26,240
Speaker 2: of the cut, but because of the slower cutting cycle

1663
01:25:26,320 --> 01:25:27,560
Speaker 2: that's been forecasted.

1664
01:25:27,680 --> 01:25:29,559
Speaker 14: Right, that's right.

1665
01:25:29,600 --> 01:25:32,920
Speaker 25: It was a hawkish cut, if that makes sense to you.

1666
01:25:33,120 --> 01:25:36,559
Speaker 25: So you know, fewer rate cuts projected, and in fact,

1667
01:25:36,600 --> 01:25:40,920
Speaker 25: the Feed raised their forecast for twenty twenty five core inflation,

1668
01:25:41,080 --> 01:25:44,920
Speaker 25: which is obviously their primary mandate. So the market took

1669
01:25:44,920 --> 01:25:48,120
Speaker 25: it as quite hawkish and took a lot of rate

1670
01:25:48,479 --> 01:25:51,320
Speaker 25: cuts out of the curve, and interest rates went up

1671
01:25:51,320 --> 01:25:52,439
Speaker 25: and equity markets went down.

1672
01:25:53,680 --> 01:25:56,200
Speaker 2: Yeah. Yeah, interesting that one, because I mean, they're obviously

1673
01:25:56,240 --> 01:25:59,040
Speaker 2: a bit a bit looser was their monetary policy when

1674
01:25:59,080 --> 01:26:01,000
Speaker 2: it comes to inflation than we are. I mean, can

1675
01:26:01,040 --> 01:26:05,160
Speaker 2: you imagine our Reserve bank making that call if inflation

1676
01:26:05,400 --> 01:26:08,280
Speaker 2: was so stubborn? Here anyway, we'll go through. We'll go

1677
01:26:08,439 --> 01:26:10,439
Speaker 2: through the rest of your top six. So we've done

1678
01:26:10,520 --> 01:26:14,280
Speaker 2: number one, number two, the Trump bump, yes.

1679
01:26:14,160 --> 01:26:17,560
Speaker 25: And US exceptionalism, So we are obviously Trump won and

1680
01:26:17,680 --> 01:26:20,680
Speaker 25: promised three things, really tax cuts. He promised to get

1681
01:26:20,720 --> 01:26:23,439
Speaker 25: rid of wasteful red tape, and to cut a lot

1682
01:26:23,479 --> 01:26:26,799
Speaker 25: of fat out of the federal government. So pretty powerful words.

1683
01:26:27,280 --> 01:26:30,680
Speaker 25: The market reacted strongly. And let's not forget Rylan that

1684
01:26:30,800 --> 01:26:34,719
Speaker 25: before these fighting words, the strength of the US economy

1685
01:26:34,760 --> 01:26:37,240
Speaker 25: had been the number one positive surprise for stock markets

1686
01:26:37,240 --> 01:26:39,720
Speaker 25: for the past eighteen months. So if we take a

1687
01:26:39,760 --> 01:26:41,879
Speaker 25: step back, the US was supposed to be in recession

1688
01:26:41,960 --> 01:26:44,800
Speaker 25: by now, according to economists, eighteen months ago. And then

1689
01:26:45,120 --> 01:26:48,920
Speaker 25: you compare that to the other big blocks, so China,

1690
01:26:48,960 --> 01:26:51,400
Speaker 25: which continues to struggle under huge debt burdens and are

1691
01:26:51,439 --> 01:26:56,360
Speaker 25: structurally challenged Europe, so all of that's known as US exceptionalism,

1692
01:26:56,400 --> 01:26:59,000
Speaker 25: and then we get the Trump bump, and so astonishingly

1693
01:26:59,120 --> 01:27:02,360
Speaker 25: before today, just to define what the Trump bump is,

1694
01:27:02,920 --> 01:27:04,920
Speaker 25: since Trump was elected, a few weeks ago, the U

1695
01:27:05,000 --> 01:27:06,840
Speaker 25: s Stop market was up about seven or eight percent,

1696
01:27:07,240 --> 01:27:09,680
Speaker 25: China was down five, and Europe was flat. So that

1697
01:27:09,880 --> 01:27:14,040
Speaker 25: is very rare outperformance in such a short space of time.

1698
01:27:15,120 --> 01:27:20,400
Speaker 2: It certainly is. And the Trump bump on the cryptocurrency

1699
01:27:20,439 --> 01:27:21,920
Speaker 2: has been pretty massive too, hasn't it.

1700
01:27:22,960 --> 01:27:23,080
Speaker 14: Right?

1701
01:27:23,280 --> 01:27:25,120
Speaker 2: Number three, this is by the way, if you just

1702
01:27:25,160 --> 01:27:28,200
Speaker 2: joining us Sam Dickey from Fisher Funds with basically the

1703
01:27:28,280 --> 01:27:30,960
Speaker 2: top six in terms of market movements for the year.

1704
01:27:31,479 --> 01:27:34,680
Speaker 2: Number three. Yeah, well number three.

1705
01:27:34,720 --> 01:27:36,519
Speaker 25: I mean it's not necessarily market movements, but sort of

1706
01:27:36,560 --> 01:27:39,040
Speaker 25: big hits and misses that caught our eye, in the

1707
01:27:39,080 --> 01:27:41,400
Speaker 25: market's eye. So the umbrella reward I guess for down,

1708
01:27:41,520 --> 01:27:43,800
Speaker 25: up and a flash was the Japan flash crash. So

1709
01:27:44,320 --> 01:27:46,200
Speaker 25: it seemed like a very big deal at the time

1710
01:27:46,240 --> 01:27:48,800
Speaker 25: we spoke about it in August. And Japan has been

1711
01:27:48,840 --> 01:27:52,759
Speaker 25: trying to manufacture inflation really since the Japanese bubble popped

1712
01:27:52,760 --> 01:27:55,960
Speaker 25: about thirty five years ago, so they kind of piggybacked

1713
01:27:56,000 --> 01:27:58,320
Speaker 25: on the once in forty years spike in inflation that

1714
01:27:58,400 --> 01:28:00,960
Speaker 25: we and the rest of the globe experienced in twenty

1715
01:28:01,040 --> 01:28:03,640
Speaker 25: twenty two to drive through higher wages. But they were

1716
01:28:03,720 --> 01:28:06,519
Speaker 25: just a little bit too late, so they tried to

1717
01:28:06,600 --> 01:28:08,280
Speaker 25: raise interest rates just as the rest of the world

1718
01:28:08,360 --> 01:28:11,680
Speaker 25: was cutting, and that popped a huge speculative bubble in

1719
01:28:12,360 --> 01:28:15,360
Speaker 25: borrowing Japanese yearn at zero percent interest rates and investing

1720
01:28:15,439 --> 01:28:19,160
Speaker 25: that money around the world and hot assets. And because

1721
01:28:19,200 --> 01:28:23,160
Speaker 25: of that kind of countertrend rate rise by the boj

1722
01:28:24,120 --> 01:28:26,600
Speaker 25: the Japanese equity market had has worst down day in

1723
01:28:26,720 --> 01:28:28,840
Speaker 25: thirty five years, down twelve percent on the day, but

1724
01:28:29,560 --> 01:28:31,759
Speaker 25: it's recovered all of that lost ground because the boj

1725
01:28:31,960 --> 01:28:35,040
Speaker 25: said it wouldn't raise interest rates anymore until financial termol

1726
01:28:35,080 --> 01:28:35,800
Speaker 25: had calmed down.

1727
01:28:37,280 --> 01:28:40,000
Speaker 2: Number four, You've got humanoids here? Are they going to

1728
01:28:40,080 --> 01:28:41,160
Speaker 2: be a big deal?

1729
01:28:42,280 --> 01:28:42,479
Speaker 1: Yes?

1730
01:28:42,560 --> 01:28:45,559
Speaker 25: I meet George Shitson a little bit of left field there, Ryan,

1731
01:28:45,720 --> 01:28:48,439
Speaker 25: just to sort of keep us on our toes, But yeah,

1732
01:28:48,640 --> 01:28:51,120
Speaker 25: I mean, so what is a humanoid. It's a robot

1733
01:28:51,640 --> 01:28:53,599
Speaker 25: that looks like a human and is designed to copy

1734
01:28:53,720 --> 01:28:56,120
Speaker 25: human actions, so like walking upright and using its fingers,

1735
01:28:56,439 --> 01:28:59,760
Speaker 25: because the world is built for humans. Now, they're only

1736
01:28:59,760 --> 01:29:03,040
Speaker 25: four million robots in operation today, but you've got to remember,

1737
01:29:03,040 --> 01:29:06,400
Speaker 25: over the next twenty five years, the working age population

1738
01:29:06,560 --> 01:29:08,920
Speaker 25: is going to shrink by about three hundred million people.

1739
01:29:09,000 --> 01:29:09,800
Speaker 1: So that's a big deal.

1740
01:29:10,320 --> 01:29:13,080
Speaker 25: And in theory, we need to replace those workers, so

1741
01:29:13,160 --> 01:29:15,520
Speaker 25: we're going to need hundreds of millions of these humanoids.

1742
01:29:15,560 --> 01:29:17,640
Speaker 25: So it's a really early stage thematic to keep an

1743
01:29:17,640 --> 01:29:17,920
Speaker 25: eye on.

1744
01:29:19,479 --> 01:29:22,840
Speaker 2: Very interesting. Number five. The award for market Darling is

1745
01:29:23,000 --> 01:29:24,879
Speaker 2: passing from in Vidia to Tesla.

1746
01:29:25,160 --> 01:29:29,479
Speaker 25: Why yes, super interesting. So up until Trump got elected.

1747
01:29:29,680 --> 01:29:32,360
Speaker 25: For the year, the Nvidia stop price was up about

1748
01:29:32,360 --> 01:29:34,439
Speaker 25: one hundred and eighty percent. This is on November fourth

1749
01:29:34,880 --> 01:29:37,479
Speaker 25: day before he got elected, and Tesla was flat for

1750
01:29:37,560 --> 01:29:40,360
Speaker 25: the year, so huge dispersion there. And in the few

1751
01:29:40,439 --> 01:29:43,120
Speaker 25: weeks since Trump got elected in Nvidia is down five

1752
01:29:43,160 --> 01:29:45,639
Speaker 25: percent and Tesla's up eighty percent.

1753
01:29:46,240 --> 01:29:46,880
Speaker 2: So in short, it.

1754
01:29:46,880 --> 01:29:47,960
Speaker 1: Pays to be a friend of Trump.

1755
01:29:48,040 --> 01:29:51,920
Speaker 25: And of course Musk is promising to run the Department

1756
01:29:52,080 --> 01:29:55,719
Speaker 25: of Government Efficiency, which if you think about that acronym's dodge,

1757
01:29:56,320 --> 01:29:58,120
Speaker 25: where he will go into the federal government and rip

1758
01:29:58,160 --> 01:30:01,360
Speaker 25: out two trillion dollars of wasteful spin then and implicitly,

1759
01:30:01,800 --> 01:30:04,439
Speaker 25: because this is not explicitly, implicitly, in return, he's going

1760
01:30:04,479 --> 01:30:10,160
Speaker 25: to get tariffs on competing Chinese EV's imposed and he

1761
01:30:10,240 --> 01:30:12,559
Speaker 25: may win the race to dominate your time as vehicle market.

1762
01:30:12,720 --> 01:30:14,840
Speaker 25: So to be fair that some other things that have happened,

1763
01:30:14,920 --> 01:30:17,160
Speaker 25: like you know, General Motors set it would stop funding Crews,

1764
01:30:17,200 --> 01:30:20,479
Speaker 25: which is a potential autonomous vehicle competitor to Tesla, but

1765
01:30:20,600 --> 01:30:22,519
Speaker 25: it is a crazy passing of the market.

1766
01:30:22,640 --> 01:30:26,000
Speaker 2: Darling Baton, Yeah, absolutely, I mean in Vidio had grown

1767
01:30:26,040 --> 01:30:29,639
Speaker 2: and athlet's be honest, they had their time in the sun.

1768
01:30:30,360 --> 01:30:33,640
Speaker 2: Have you number six got a chip bro? What's this

1769
01:30:33,760 --> 01:30:37,160
Speaker 2: about the chip wars? I'm assuming, yeah.

1770
01:30:37,080 --> 01:30:40,840
Speaker 25: The ultra high consequence computer chip wars. So the story there,

1771
01:30:41,040 --> 01:30:44,400
Speaker 25: of course is given the manufacturing of advanced computer chips

1772
01:30:44,520 --> 01:30:48,639
Speaker 25: is considered the most complex and precise manufacturing process humans

1773
01:30:48,640 --> 01:30:49,400
Speaker 25: have ever undertaken.

1774
01:30:49,439 --> 01:30:51,400
Speaker 1: And given these chips drive.

1775
01:30:51,200 --> 01:30:53,280
Speaker 25: Almost every bit of technology would be touched and underpin

1776
01:30:53,439 --> 01:30:57,799
Speaker 25: economies and militaries. It's no wonder this is enormous power struggle.

1777
01:30:57,880 --> 01:30:59,960
Speaker 25: So a few factoids there when you think about it,

1778
01:31:00,000 --> 01:31:02,479
Speaker 25: I guess the US and China chip wars that is

1779
01:31:02,680 --> 01:31:05,880
Speaker 25: going on. So China imports more in chips than it

1780
01:31:05,920 --> 01:31:10,320
Speaker 25: doesn't oil, so it's at a natural disadvantage there. And Taiwan,

1781
01:31:10,560 --> 01:31:14,880
Speaker 25: or to be more precise, TESTMC, the company controls ninety

1782
01:31:14,960 --> 01:31:17,519
Speaker 25: percent of high end chip manufacturing, so you can imagine

1783
01:31:17,560 --> 01:31:19,920
Speaker 25: the natural tensions there. And the US even has an

1784
01:31:19,920 --> 01:31:23,400
Speaker 25: active government called the Chips Act, which is funneling billions

1785
01:31:23,439 --> 01:31:25,880
Speaker 25: of dollars into US chip designers and manufacturers to make

1786
01:31:25,880 --> 01:31:28,960
Speaker 25: sure they win this war. So some very big, sort

1787
01:31:29,000 --> 01:31:30,840
Speaker 25: of above our pay grade type things to keep an

1788
01:31:30,840 --> 01:31:31,240
Speaker 25: eye on that.

1789
01:31:32,560 --> 01:31:34,880
Speaker 2: Absolutely. Hey, thanks, So much Sam, good to have you

1790
01:31:34,960 --> 01:31:36,400
Speaker 2: on the show, Good to have you running through your

1791
01:31:36,439 --> 01:31:39,160
Speaker 2: top six hits and missus on the stock market for

1792
01:31:39,240 --> 01:31:42,439
Speaker 2: the year, that is Sam Dickey Fisher Funds. Just gone

1793
01:31:42,800 --> 01:31:45,160
Speaker 2: sixteen minutes away from seven on News Talk, but we're

1794
01:31:45,160 --> 01:31:46,439
Speaker 2: going to get to end of Brady over in the

1795
01:31:46,600 --> 01:31:49,800
Speaker 2: UK to catch up on what's happening over there, plus

1796
01:31:49,920 --> 01:31:51,360
Speaker 2: some final thoughts for the day.

1797
01:31:51,320 --> 01:31:55,040
Speaker 1: From me, everything from SMEs to the big corporates, The

1798
01:31:55,280 --> 01:31:59,120
Speaker 1: Business Hour with Ryan Bridge and my Hr the HR

1799
01:31:59,240 --> 01:32:02,360
Speaker 1: solution for Simmy Son News Talk Zibby.

1800
01:32:03,040 --> 01:32:05,680
Speaker 2: According to seven in the Brady are UK correspondents with

1801
01:32:05,800 --> 01:32:08,200
Speaker 2: us live from the UK in the good evening to you,

1802
01:32:08,320 --> 01:32:10,960
Speaker 2: thank you for being with me again. We spoke yesterday

1803
01:32:11,160 --> 01:32:15,560
Speaker 2: about you know, Fergie had Well, we're actually at this

1804
01:32:15,600 --> 01:32:18,599
Speaker 2: point we didn't know Fergi was involved, but we knew

1805
01:32:18,680 --> 01:32:23,360
Speaker 2: that Prince Andrew was going to skip Christmas with the

1806
01:32:23,479 --> 01:32:27,200
Speaker 2: royal family because of his links to a Chinese spy

1807
01:32:27,880 --> 01:32:30,559
Speaker 2: whose identity we had just found out. Now we've got

1808
01:32:30,600 --> 01:32:33,559
Speaker 2: an update on who kind of pushed him into that corner.

1809
01:32:34,920 --> 01:32:37,640
Speaker 9: Sarah Ferguson, his ex wife, so she seems to be

1810
01:32:37,760 --> 01:32:42,040
Speaker 9: the only friend he has left. They lived together still remarkably,

1811
01:32:42,080 --> 01:32:46,200
Speaker 9: even though they divorced in what nineteen eighty bodered the

1812
01:32:46,280 --> 01:32:48,880
Speaker 9: same roof in Royal Lodge. Now a lot of people

1813
01:32:49,000 --> 01:32:52,840
Speaker 9: wonder what sort of a domestic arrangement is this? Why

1814
01:32:52,960 --> 01:32:55,080
Speaker 9: is she still in the fringes of the royal family?

1815
01:32:55,760 --> 01:32:59,639
Speaker 9: And now the front pages today A source, a royal source.

1816
01:32:59,760 --> 01:33:01,960
Speaker 9: Let's have been known that the King has expressed his

1817
01:33:02,479 --> 01:33:07,120
Speaker 9: gratitude to Sarah Ferguson for making Andrew Sea sense and

1818
01:33:07,240 --> 01:33:11,120
Speaker 9: stay away from Sandringham this Christmas. So earlier in the

1819
01:33:11,160 --> 01:33:13,640
Speaker 9: week it came out that he had been banished, and

1820
01:33:13,760 --> 01:33:16,120
Speaker 9: then there was a quote saying that he needed to

1821
01:33:16,200 --> 01:33:19,680
Speaker 9: stay out of sight. And apparently it is Sarah Ferguson

1822
01:33:19,720 --> 01:33:21,960
Speaker 9: who has made Andrews see since because I think he

1823
01:33:22,040 --> 01:33:25,320
Speaker 9: will have wanted to have gone to Sandringham anyway, and

1824
01:33:25,439 --> 01:33:27,880
Speaker 9: the King didn't want him there because his presence would

1825
01:33:27,880 --> 01:33:30,960
Speaker 9: of course bring more Cameron lenses for all the wrong

1826
01:33:31,040 --> 01:33:34,960
Speaker 9: reasons and reporters. So it is Sarah Ferguson who is

1827
01:33:35,040 --> 01:33:37,840
Speaker 9: doing the peace deal and the olive branching behind the

1828
01:33:37,920 --> 01:33:38,920
Speaker 9: scenes this Christmas.

1829
01:33:40,080 --> 01:33:43,200
Speaker 2: Well, I suppose everybody's happy, then, aren't they. Let's go

1830
01:33:43,360 --> 01:33:47,040
Speaker 2: to the Google street View story. This is incredible. It

1831
01:33:47,240 --> 01:33:49,880
Speaker 2: might have helped solve a murder case.

1832
01:33:51,120 --> 01:33:53,719
Speaker 9: Yeah, can you imagine I'm about to use the phrase

1833
01:33:53,800 --> 01:33:57,720
Speaker 9: bad look for a murderer. But the Google street View

1834
01:33:57,880 --> 01:34:01,360
Speaker 9: car had not driven down this village, northern Spain in

1835
01:34:01,520 --> 01:34:04,560
Speaker 9: fifteen years, and it just happened to do so on

1836
01:34:04,760 --> 01:34:08,000
Speaker 9: the day at the very moment that a guy is

1837
01:34:08,080 --> 01:34:12,439
Speaker 9: seen bundling a big package into the boot of a car,

1838
01:34:12,680 --> 01:34:15,080
Speaker 9: and the car is very visible, so too is the guy.

1839
01:34:15,600 --> 01:34:18,680
Speaker 9: It's a tiny village with thirty two inhabitants. It will

1840
01:34:18,760 --> 01:34:21,559
Speaker 9: not have taken long for the Spanish police to make arrests,

1841
01:34:21,960 --> 01:34:24,000
Speaker 9: and indeed they have now arrested a man and a

1842
01:34:24,080 --> 01:34:27,320
Speaker 9: woman on suspicion of the murder of a local man

1843
01:34:27,400 --> 01:34:32,800
Speaker 9: called Jose Luis Rodriguez. His dismembered remains have apparently been

1844
01:34:32,880 --> 01:34:37,839
Speaker 9: found in the local cemetery. And key to unsolving everything

1845
01:34:38,000 --> 01:34:41,360
Speaker 9: and unpicking this story is the fact that the Google

1846
01:34:41,439 --> 01:34:45,320
Speaker 9: street Maps car went down the street at that precise moment.

1847
01:34:45,720 --> 01:34:48,920
Speaker 9: So when detectives were investigating the disappearance of this man,

1848
01:34:49,640 --> 01:34:52,000
Speaker 9: the first port of call a young detective did was

1849
01:34:52,120 --> 01:34:55,519
Speaker 9: go online. This village is tiny in the province of

1850
01:34:55,640 --> 01:34:59,160
Speaker 9: Soria in northern Spain, and a young cop has gone

1851
01:34:59,240 --> 01:35:01,559
Speaker 9: on Google stree maps just to see what the place

1852
01:35:01,640 --> 01:35:04,839
Speaker 9: looks like, and he could not believe his look. Finding

1853
01:35:05,200 --> 01:35:07,920
Speaker 9: a suspicious package being bundled into the boot of a

1854
01:35:08,040 --> 01:35:12,640
Speaker 9: car at the precise moment that the disappearance had been registered.

1855
01:35:12,920 --> 01:35:14,080
Speaker 9: You could not make it up.

1856
01:35:14,360 --> 01:35:17,640
Speaker 2: That is pretty crazy, isn't it. Let's go stay in

1857
01:35:17,680 --> 01:35:21,160
Speaker 2: Spain actually, because they've apparently figured out the perfect number

1858
01:35:21,240 --> 01:35:23,960
Speaker 2: of daily steps that you need to avoid depression.

1859
01:35:25,240 --> 01:35:27,519
Speaker 9: So scientists in Spain have done this. It's making the

1860
01:35:27,560 --> 01:35:30,479
Speaker 9: headlines here because we have nine million people in the

1861
01:35:30,600 --> 01:35:35,640
Speaker 9: UK on anti pals again, nine million people. Can you

1862
01:35:35,720 --> 01:35:38,320
Speaker 9: imagine that the money that is in that for the

1863
01:35:38,400 --> 01:35:41,640
Speaker 9: farmer industry, they will not like what is in the

1864
01:35:41,720 --> 01:35:45,000
Speaker 9: papers today. Seven thousand steps is what we need to

1865
01:35:45,040 --> 01:35:49,120
Speaker 9: be walking to avoid depression. Previously, there had been studies

1866
01:35:49,160 --> 01:35:51,120
Speaker 9: from Japan saying that he needed to be hitting ten

1867
01:35:51,160 --> 01:35:54,200
Speaker 9: thousand steps a day to be healthy. And the Spanish

1868
01:35:54,320 --> 01:35:57,479
Speaker 9: have taken all the numbers, crunch the data, everything from

1869
01:35:57,520 --> 01:36:01,120
Speaker 9: our smart watches and they reckon seven thousand steps a

1870
01:36:01,200 --> 01:36:05,360
Speaker 9: day is the optimal number to avoid depression. So maybe

1871
01:36:05,400 --> 01:36:08,439
Speaker 9: at some point, doctors, Ryan, I think, make the leap

1872
01:36:08,720 --> 01:36:12,960
Speaker 9: and start prescribing adrenaline an exercise instead of just the easy,

1873
01:36:13,080 --> 01:36:14,360
Speaker 9: lazy option of tablets.

1874
01:36:15,479 --> 01:36:15,679
Speaker 7: Yeah.

1875
01:36:15,720 --> 01:36:18,240
Speaker 2: Good point. The seventh that the thing is, I've done

1876
01:36:18,320 --> 01:36:20,680
Speaker 2: that whole challenge where you do ten thousand steps a

1877
01:36:20,760 --> 01:36:23,720
Speaker 2: day and some days you know you feel like doing it.

1878
01:36:23,840 --> 01:36:26,280
Speaker 2: Some days it's easy, but some days you almost get

1879
01:36:26,360 --> 01:36:28,400
Speaker 2: more depressed thinking about having to do it.

1880
01:36:30,560 --> 01:36:33,679
Speaker 9: Well, look, I suppose that's that's a challenge in itself.

1881
01:36:34,000 --> 01:36:36,000
Speaker 9: But you know what, I since I've had one of

1882
01:36:36,040 --> 01:36:39,559
Speaker 9: these smart watches, I find myself later in the day thinking, right,

1883
01:36:39,600 --> 01:36:41,040
Speaker 9: I need to go and get a couple of pints

1884
01:36:41,080 --> 01:36:43,519
Speaker 9: of milk from the shop now because I'm fifteen hundred short.

1885
01:36:44,640 --> 01:36:46,760
Speaker 2: So they do work in the Thank you so much

1886
01:36:46,840 --> 01:36:49,920
Speaker 2: to that. In the Brady UK correspondent with us nine

1887
01:36:49,960 --> 01:36:51,560
Speaker 2: minutes away from seven.

1888
01:36:52,400 --> 01:36:55,240
Speaker 1: Getting ready for a new administration in the US, what

1889
01:36:55,479 --> 01:36:58,360
Speaker 1: will be the impact? It's the business now with hither

1890
01:36:58,479 --> 01:37:02,839
Speaker 1: duplicy Ellen and my the HR solution for busy SMEs

1891
01:37:03,040 --> 01:37:03,920
Speaker 1: news talks, he'd.

1892
01:37:03,800 --> 01:37:06,960
Speaker 2: Be it is six minutes away from seven. I've been

1893
01:37:07,000 --> 01:37:09,800
Speaker 2: trying to think all day who my politician of the

1894
01:37:09,880 --> 01:37:12,400
Speaker 2: year is. I don't know why this is the thing.

1895
01:37:12,560 --> 01:37:15,680
Speaker 2: Audrey Young has always done Politician of the Year, hasn't she,

1896
01:37:15,760 --> 01:37:18,560
Speaker 2: And she's always ranked the cabinet ministers. She's sort of

1897
01:37:18,560 --> 01:37:20,479
Speaker 2: always been the authority in my mind on it. But

1898
01:37:20,560 --> 01:37:23,080
Speaker 2: now every man and his dog is giving their Politician

1899
01:37:23,120 --> 01:37:26,120
Speaker 2: of the year. Who would Jules be nin nine to two?

1900
01:37:26,160 --> 01:37:30,240
Speaker 2: You've got a couple of minutes. I think, on balance

1901
01:37:30,840 --> 01:37:35,560
Speaker 2: probably Winston Peters, because I didn't want Winston Peters to

1902
01:37:35,640 --> 01:37:38,960
Speaker 2: get back into Parliament. I didn't. I didn't particularly like

1903
01:37:39,040 --> 01:37:43,479
Speaker 2: Winston Peters after the last round. And gosh, he's just

1904
01:37:43,520 --> 01:37:46,320
Speaker 2: so impressive, isn't he. The stamina on that man. How

1905
01:37:46,360 --> 01:37:48,639
Speaker 2: many countries does he say he's been to? How many

1906
01:37:48,720 --> 01:37:51,120
Speaker 2: knights has heven out of the country? One hundred and

1907
01:37:51,160 --> 01:37:54,200
Speaker 2: two days nights he's spent out of New Zealand this year.

1908
01:37:55,360 --> 01:37:58,840
Speaker 2: He's not a young man, and for someone of his

1909
01:37:58,960 --> 01:38:01,759
Speaker 2: age to be doing that and getting up and delivering

1910
01:38:01,800 --> 01:38:04,479
Speaker 2: those speeches off the cuff in the house, to be

1911
01:38:04,520 --> 01:38:07,400
Speaker 2: across his portfolios, it's very impressive. And I'm talking here.

1912
01:38:07,600 --> 01:38:09,519
Speaker 2: And the other thing about Winston Peters is that he

1913
01:38:09,600 --> 01:38:12,800
Speaker 2: can go from you know, you get some politicians who

1914
01:38:12,800 --> 01:38:15,200
Speaker 2: are really good at campaigning and they know how to

1915
01:38:15,240 --> 01:38:17,680
Speaker 2: win elections, and Winston Peters knows how to do that.

1916
01:38:18,160 --> 01:38:21,759
Speaker 2: But then you throw them into cabinet and they're absolute shite.

1917
01:38:22,600 --> 01:38:25,160
Speaker 2: They have no idea how to run an office. They

1918
01:38:25,200 --> 01:38:28,000
Speaker 2: have no idea how to run a ministry. But Winston

1919
01:38:28,040 --> 01:38:32,320
Speaker 2: Peters's sort of managers to straddle both horses. So for

1920
01:38:32,400 --> 01:38:36,719
Speaker 2: that reason I would say old Winston Peters, the right honorable,

1921
01:38:36,760 --> 01:38:39,360
Speaker 2: would be my politician of the year. Lots of people

1922
01:38:39,360 --> 01:38:45,040
Speaker 2: saying David Seymour Peters, I agree with Winston Peters, nicky kay, yes,

1923
01:38:46,720 --> 01:38:50,240
Speaker 2: although obviously no longer with us and no longer in politics,

1924
01:38:50,320 --> 01:38:54,879
Speaker 2: but what an absolutely inspirational woman. Adults of David Seymour's

1925
01:38:54,920 --> 01:38:56,600
Speaker 2: coming in now? Who would yours be in?

1926
01:38:58,040 --> 01:39:02,000
Speaker 6: Oh far out? Put me on the spot, No, I

1927
01:39:02,120 --> 01:39:04,280
Speaker 6: need a couple more minutes, sorry, come on.

1928
01:39:04,439 --> 01:39:07,200
Speaker 26: In the meantime someone who probably would be about as

1929
01:39:07,240 --> 01:39:08,960
Speaker 26: good as a drinking buddy as your politian of hear

1930
01:39:08,960 --> 01:39:12,320
Speaker 26: Winston Peter's Liam Gallagher. He's answered a few fan questions

1931
01:39:12,400 --> 01:39:16,040
Speaker 26: on Twitter, and one of them saw a fan ask

1932
01:39:16,120 --> 01:39:18,000
Speaker 26: him what his favorite Christmas song was, and he said

1933
01:39:18,080 --> 01:39:21,519
Speaker 26: this one last Christmas Wham, which is interesting because Noel

1934
01:39:21,560 --> 01:39:23,720
Speaker 26: Gallagher told us in twenty twenty two that they just

1935
01:39:23,800 --> 01:39:25,880
Speaker 26: about got into a fight those two over what this

1936
01:39:26,000 --> 01:39:28,639
Speaker 26: Christmas song ever and is? At that time Liam's favorite

1937
01:39:28,720 --> 01:39:31,120
Speaker 26: was War Is Over by John Lennon, So I don't

1938
01:39:31,120 --> 01:39:32,440
Speaker 26: know clearly his tasted.

1939
01:39:32,240 --> 01:39:36,240
Speaker 2: Change in the last two years. All right, and we'll

1940
01:39:36,280 --> 01:39:38,000
Speaker 2: leave you, give me some time to think about that.

1941
01:39:38,160 --> 01:39:39,840
Speaker 2: Maybe I'll come back. Can I do it tomorrow? We

1942
01:39:39,880 --> 01:39:41,960
Speaker 2: will ask you tomorrow and yeah, all right, we'll wait

1943
01:39:42,000 --> 01:39:45,360
Speaker 2: for answers. Answers, then thanks for your company to stapen.

1944
01:39:45,400 --> 01:39:47,639
Speaker 2: Then everybody, great to have you see tomorrow.

1945
01:40:01,920 --> 01:40:43,040
Speaker 1: Game. For more from Hither Duplessy Alan Drive, listen live

1946
01:40:43,160 --> 01:40:46,000
Speaker 1: to news Talks it'd be from four pm weekdays, or

1947
01:40:46,080 --> 01:40:48,120
Speaker 1: follow the podcast on iHeartRadio.