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

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Speaker 1: Dickens on hither due to c Allen Drive with one

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Speaker 1: New Zealand, Let's get connected.

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Speaker 2: News Talk said by.

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Speaker 3: Good afternoon, welcome to the program. It is the fifth

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Speaker 3: of December and here we go scrutiny. We keeps on

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Speaker 3: delivering news. Today, police bosses have revealed that the government's

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Speaker 3: target to train five hundred new police officers could miss

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Speaker 3: its two year deadline. Jenny McDonald is joining us just

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Speaker 3: out of five o'clock today Today big guest the Australian

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Speaker 3: Deputy Prime Minister and Defense Minister Richard Miles. He'll be

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Speaker 3: on the show for an interview just after five thirty.

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Speaker 3: We'll talk about defense, We'll talk about Orchus, we'll talk

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Speaker 3: about China. We'll talk about ICBMs and why the French

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Speaker 3: the French, Why to France say no to the orbacks

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Speaker 3: this year? What is it about their health concerns. We're

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Speaker 3: going to talk to David Moffatt about that. Our whole

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Speaker 3: heap more. You can text me on ninety two ninety two.

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Speaker 3: You can email Dickens at News Talks at b dot

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Speaker 3: co dot NZ. It's eight after four right yesterday around

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Speaker 3: this time, Darcy walder Grave and I were talking about

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Speaker 3: how the English and New Zealand cricket teams have been

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Speaker 3: deducted three points each towards the World Test Championship, and

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Speaker 3: they got that for slow over rates. Apparently the third

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Speaker 3: day was six overs shy and more than that, all

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Speaker 3: the players lost fifteen percent of their match fees. That's

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Speaker 3: quite a lot of money, and Darcie and I were

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Speaker 3: talking about it, were saying, gost this salt seems a

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Speaker 3: bit harsh, doesn't it, especially as you consider that the

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Speaker 3: game actually lost a day and a half because we

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Speaker 3: lost too easily. Anyway, So I was driving home last

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Speaker 3: night and I heard Darcy talking to the former ICC

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Speaker 3: umpire boss about it, saying, well, what's happening here? You've

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Speaker 3: come down pretty tough, and that fella explained that it

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Speaker 3: was for the fans because who wants to watch less

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Speaker 3: cricket because the team is dawdling, happens too much. It's

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Speaker 3: all gainsmanship to take away momentum or to give bowld

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Speaker 3: As a bit of a rest. So the argument there

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Speaker 3: is that also you can go back at them and say,

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Speaker 3: well yeah, you say that for the fans. But hey,

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Speaker 3: think about the fans, because you've taken away the points,

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Speaker 3: which now denies the fans a chance to see their

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Speaker 3: team in the championship final. And I thought that was

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Speaker 3: a very fair point. But then the fellow came back

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Speaker 3: at Darcy and said, well, there's also a commercial factor.

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Speaker 3: The broadcasters who pay for the rights which pay the players,

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Speaker 3: make the money by putting on ads between the overs.

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Speaker 3: So if you bowl six overs less than you should do,

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Speaker 3: that's six less ad breaks. So fair play to take

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Speaker 3: away the players' money, because if you rip off the paymaster,

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Speaker 3: don't expect the paymaster to pay. And then suddenly I

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Speaker 3: just had this flash and I went right the way

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Speaker 3: back to first principles, where rules are rules, and break

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Speaker 3: the rules. The only way you learn is with consequences.

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Speaker 3: So Damien McKenzie this season learnt that when he took

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Speaker 3: too long to kick a conversion and the rest said, well,

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Speaker 3: you can't do it now, and he took away three points.

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Speaker 3: Have you noticed that, all of a sudden, every conversion

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Speaker 3: happens in a timely fashion, and every stadium has a

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Speaker 3: shot clock on the big screen, and the game is faster,

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Speaker 3: and the fans are happier, and all it took was

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Speaker 3: one pretty heavy action against Damien. Rules are rules, and

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Speaker 3: consequences are consequences. And that brings me all the way

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Speaker 3: back to sevu Reese, who broke the rules not once

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Speaker 3: but twice has not felt the full force of the consequences.

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Speaker 3: And frankly, that's not good. It's not good for anyone.

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Speaker 3: It's not good for him, and it's certainly not good

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Speaker 3: for his victims.

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Speaker 2: Andrew dickens, So.

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Speaker 3: We've got new research from Kiwibank which shows that the

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Speaker 3: third of us have used the bank of mom and

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Speaker 3: dad to get into our first home. And as you'd expect,

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Speaker 3: the numbers even higher for younger people. Sixty five percent

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Speaker 3: of gens Z homeowners had some sort of financial help

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Speaker 3: from their parents when they bought their first property. So

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Speaker 3: Leslie Harris as a director of the First home Buyers

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Speaker 3: Club and she joins me, now, Hella, Leslie, good afternoon, Andrew.

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Speaker 3: This doesn't shock me. But what does shock me is

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Speaker 3: just how many kids are dependent on the parents.

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Speaker 4: Well, it doesn't shock us at all.

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Speaker 5: It's kind of what we know.

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Speaker 4: I mean, we saw some research that came out all

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Speaker 4: a couple of years ago that talked about bank of

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Speaker 4: Mum and Dad is actually our biggest bank here in

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Speaker 4: New Zealand. So we know that a lot of people,

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Speaker 4: you know, especially the young ones, are relying on that contribution.

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Speaker 2: But you know, we've.

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Speaker 4: Also got to go, well, aren't you lucky if you've

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Speaker 4: got a mum and bank of Mum and Dad. I mean,

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Speaker 4: not everybody has that exactly.

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Speaker 3: Yes, well, there's that old thing that rich get richer

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Speaker 3: and the poor get poorer and for the.

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Speaker 4: Real it's generational generation.

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Speaker 3: Yes, yeah, Okay, is it happening more now than in

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Speaker 3: the past?

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Speaker 6: Has it?

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Speaker 3: Has it been exponentially rising over the last while, or

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Speaker 3: has this been happening for twenty thirty years.

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Speaker 4: I don't believe it's been happening as as not nearly

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Speaker 4: as much as what we're seeing now. But we're seeing

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Speaker 4: such a massive disparity now between people's incomes and ability

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Speaker 4: to purchase a home, which is completely different to what

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Speaker 4: it was twenty or thirty years ago. It's really only

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Speaker 4: those very top income earners that we're seeing actually able

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Speaker 4: to actually get those mortgages and get into those homes.

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Speaker 3: So is this a warning for anyone who's planning to

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Speaker 3: have kids or has just had kids, that really you're

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Speaker 3: going to have to start thinking about making sure that

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Speaker 3: you're tithing off a certain part of your income to

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Speaker 3: help your kids, because it's going to be necessary.

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Speaker 4: I think one of the things that I've talked about

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Speaker 4: a little bit before is that you know, as a country,

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Speaker 4: really thinking about the impacts on people's retirements. I mean,

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Speaker 4: if I look at myself, you know, three children, if

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Speaker 4: I've got to help all of those into their first homes,

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Speaker 4: then really my retirement's going to look actually quite different.

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Speaker 4: So this is a real New Zealand problem. It's not

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Speaker 4: just for the young ones getting into their homes. It

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Speaker 4: actually is going to impact our generation going into retirement

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Speaker 4: with what they've actually got to retire on.

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Speaker 3: Do you have any facts and figures about how these

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Speaker 3: loans or gifts are structure? In fact, I'm going to

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Speaker 3: ask a different question, are these loans or are these gifts?

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Speaker 4: Typically what we're actually seeing is gifts, because really if

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Speaker 4: they're loans, then it's not going to make that much

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Speaker 4: difference to the bank because it's still going to have

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Speaker 4: to be something that needs to be paid back. I mean,

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Speaker 4: one thing that the key wei Bank report did touch

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Speaker 4: on is the importance of really having clarity amongst all

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Speaker 4: parties about is it a gift or is it a loan,

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Speaker 4: because if it's a loan, it's got to be factored

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Speaker 4: into the repayments and their affordability.

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Speaker 3: Yes, but some people just don't believe in disclosure.

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Speaker 4: Yeah, well, I mean that's but then you know, potential

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Speaker 4: impacts on families falling out if all of a sudden

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Speaker 4: they've got to start repaying something and they weren't clear

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Speaker 4: on that's that's going to cause some issue.

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Speaker 3: So do you have any sort of anecdotal stuff or

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Speaker 3: any empirical evidence about the contracts that might exist between

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Speaker 3: parents and children to ensure that the parents' money, that

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Speaker 3: their assets are not wasted.

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Speaker 4: So one of the things that you know, I've spoken

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Speaker 4: about a little bit is anything like this. You know,

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Speaker 4: it's full disclosure, and you need to get the right

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Speaker 4: legal advice because there's a lot of implications. For example,

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Speaker 4: if I was to gift to my son and then

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Speaker 4: he was married and then divorced, I wouldn't really want

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Speaker 4: that gift being split two ways. So things need to

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Speaker 4: be structured in a way so that the intention of

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Speaker 4: that gift is actually preserved for the purposes that it

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Speaker 4: was initially intended for.

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Speaker 3: Our lawyers up to speed with this, and therefore they

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Speaker 3: have the forms, they have, you know, the templates, so

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Speaker 3: that they can put in an agreement that will protect

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Speaker 3: the parents' money, because you quite right that whole you know,

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Speaker 3: after the de facto, after the two years, you know,

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Speaker 3: a bit of a split halfy money goes you know, well,

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Speaker 3: you know, preventing.

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Speaker 4: That has some very clear, strong advice that we've seen

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Speaker 4: being given that some sort of prenup or something, you know,

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Speaker 4: before entering into that de facto relationship if there was

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Speaker 4: going to be a significant gift for the house, so

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Speaker 4: that it just all needs to be thought about. It

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Speaker 4: all needs to be discussed, and we recommend getting proper

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Speaker 4: legal advice from the experts that know the stuff.

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Speaker 3: Good stuff. And I thank you so much. Lesie Harris

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Speaker 3: is from the First Home Buyers Club who knew that

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Speaker 3: there was a thing like that, and she is a director,

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Speaker 3: And be very very careful. It's a minefield out there.

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Speaker 3: Take through ninety two, ninety two, Andrew, I'm worried about Heather.

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Speaker 3: Is he okay? From Penny Penny that's very sweet. Guess

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Speaker 3: what Heather is back tomorrow? We know that already. It

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Speaker 3: is four sixteen on the way Darcy Waldergrave does he

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Speaker 3: know anything? By the French the Friends say that they

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Speaker 3: won't play the All Backs in America because of health reasons.

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Speaker 3: What is that about? Darcy's next?

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Speaker 1: Who will take the White House? Results and analysis of

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Speaker 1: the US election on? Heather Duplessy? One drive with one

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Speaker 1: New Zealand let's get connected, The news talk said, be

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Speaker 1: sport with the new tab app downloaded today. Rita bit responsibly.

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Speaker 3: Dazy water Grave, how are you?

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Speaker 7: I'm very very well yourself.

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Speaker 8: You've got a.

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Speaker 3: Phoenix shit, that's a or shit or phoenix?

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Speaker 2: Have you?

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Speaker 3: I wish? Oh that's a pity. I'm not on tomorrow

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Speaker 3: because I've got an orkandef C shirt. Oh right, and

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Speaker 3: you could have won the Phoenix shirt. Ah, and you're

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Speaker 3: going to lose actually possibly, I don't know.

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Speaker 7: Look, it's a bit of revenge coming in for this

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Speaker 7: game right after they got beaten in the other derby.

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Speaker 7: Well there's one of three's one next to you too,

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Speaker 7: so they're coming up here to try and exact some

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Speaker 7: revenge on a team that hasn't been beaten all seasons past.

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Speaker 9: Five and oh it's incredible.

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Speaker 3: Hasn't even let in a goal? Amazing? Can I just

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Speaker 3: say mister Pawson was a brilliant buy from Bournemouth?

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Speaker 9: Wait, well didn't it?

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Speaker 7: So if you're keen on throwing a bit of cash

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Speaker 7: around on this, because I think this is there's a

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Speaker 7: right up for betting this. It's going to be a mad,

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Speaker 7: mad crowd. What twenty six thousand piled? And I'm quite

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Speaker 7: sure how they've managed to get such traction?

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Speaker 9: Is it just winning?

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Speaker 7: I don't know anyway, R eighteen bet responsibly, plain me.

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Speaker 7: But if you want to have a crack three point

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Speaker 7: fifty for the draw, no one's going to see that coming.

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Speaker 7: I do like that they're talking about the possibility of

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Speaker 7: Auckland winning to mill and there's some money in that too,

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Speaker 7: three dollars seventy five. So if they keep their clean

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Speaker 7: sheet and win three dollars seventy five, Wellington way outside

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Speaker 7: on three ninety Auckland one ninety one. So I'm tending

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Speaker 7: towards the draw, so we'll go anyway. It's all with

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Speaker 7: the tab again. R eighteen bet.

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Speaker 3: Responsibly, So you know I'm a I'm an AFC fan,

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Speaker 3: right you are, and they have been good bandwagon joy,

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Speaker 3: but I was also a Knights fan. I was also

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Speaker 3: a Kings fan. I've got all those shits. I've got

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Speaker 3: all those shits. We've been waiting for. We've been waiting

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Speaker 3: for a decent football team for a long time. There's

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Speaker 3: a decent football team here. But I know that the

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Speaker 3: Phoenix is a decent football team as well. And I

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Speaker 3: watched their game the other day, which they want. This

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Speaker 3: is the Phoenix and Chief he was talking afterwards, and

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Speaker 3: he was talking about how basically he used five different

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Speaker 3: formations in one game. And he sat there and said, okay,

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Speaker 3: go to two four four. It's changing it up. He's

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Speaker 3: changing around all over the place. They were going a

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Speaker 3: week off right by last week, the Corica is talking

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Speaker 3: this week. He says, I understand that the Phoenix just

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Speaker 3: changed all over the place, and we're going to have

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Speaker 3: to be aware of it. And that's when I started thinking,

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Speaker 3: this is going to be a mighty, mighty match full

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Speaker 3: of great tactics, you know, and the best tactics will win,

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Speaker 3: and it could be the Phoenix.

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Speaker 9: And it could be a draw. A through sixty.

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Speaker 3: Well that's a very good that's a very good payout

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Speaker 3: ur a team. Bit responsibly, why are they all backs

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Speaker 3: in France not playing and why did they give the

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Speaker 3: exclusive health they might.

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Speaker 7: Want to fly their F team halfway around the world

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Speaker 7: for what essentially is a meaningless game of football.

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Speaker 9: It is meaning.

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Speaker 7: That's because they're not going to seend their their A

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Speaker 7: team because they can't.

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Speaker 9: Because they're all tied up with clubs. Clubs won't release.

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Speaker 3: Them, so they haven't got their best splits. Why don't

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Speaker 3: they have an international window like they have in football,

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Speaker 3: Because football is old, it's.

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Speaker 7: Been going for a long time, and I hate to

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Speaker 7: say it, it's probably a lot more sensible than rugby.

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Speaker 9: Rugby is odd because it's got split.

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Speaker 7: Seasons, it's got a northern hemisphere southern hemisphere, there's no

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Speaker 7: international season. It's quite complex, whereas football have got an

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Speaker 7: ironed out which makes sense. But they're like, we're not

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Speaker 7: going to send our F team over to basically a game.

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Speaker 7: We're going to get thrashed and it's not good for

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Speaker 7: them to be flying all over the woods, so we

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Speaker 7: know we're.

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Speaker 9: Not going to do it. They were asked.

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Speaker 7: It was never confirmed and I plead in z are

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Speaker 7: You've got this extra match, which is great one you

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Speaker 7: thought you were going to give away when you're going

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Speaker 7: to sell and you didn't.

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Speaker 9: Can you please take it to the Provinces?

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Speaker 7: Can they take it to Yarrow Stadium? Can you when

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Speaker 7: it's trying to Valga Park in the claim part?

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Speaker 3: You know Trafalgar would have to rebuild. I get that,

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Speaker 3: but Yarrow had a great test once upon a time

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Speaker 3: and they've been rebuilding. Is that ready to go? They

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Speaker 3: had England play down there thirty thousand people.

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Speaker 7: And I'd say that also, sunstrike is not an issue

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Speaker 7: at McLean Park for rugby, sob over there.

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Speaker 9: I don't know, maybe even I know.

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Speaker 7: I don't want to call Hamilton the Provinces because it's

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Speaker 7: not but a smaller ground.

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Speaker 3: I'm saying go wide, go wide and far and because

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Speaker 3: they're our team, right the All Blacks attitude?

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Speaker 7: Can you actually can they actually play in front of us?

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Speaker 3: Good stuff?

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Speaker 7: That just saying yeah, yeah, thank you very much.

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Speaker 3: I'm saying it. Say all right tonight, Yeah.

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Speaker 7: We're going to talk about the power of Auckland FC

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Speaker 7: tonight and David Choke I believe he's going to join

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Speaker 7: us around how they've been So what is the deal

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Speaker 7: with this bandwagon?

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Speaker 3: The town's been gagging for it for a very long

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Speaker 3: time and it's a party night. So thank you mate,

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Speaker 3: seven o'clock tonight.

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Speaker 1: You Andrew Dickens cutting through the noise to get the facts.

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Speaker 1: It's Andrew Dickens on hither due to see Ellen drive

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Speaker 1: with on New Zealand. Let's get connected and you talk

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Speaker 1: as they'd be.

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Speaker 3: Yeah, for twenty six the bank of Mum and Dad's

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Speaker 3: text through ridiculous. Just made the kids pay their own

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Speaker 3: for their own job at your houses, made them stand

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Speaker 3: on their own two feet. You're not going to pay

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Speaker 3: their rent, are you? Well, no nobody is, or some might.

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Speaker 3: But at the same time kids struggle to get to

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Speaker 3: stand on their own two feet. They can't get the money.

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Speaker 3: I know there's a god. A twenty eight year old

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Speaker 3: Sonny has a very good income. He doesn't have a partner.

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Speaker 3: He's been trying to get enough of a loan to

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Speaker 3: get enough of a place and we thought we might

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Speaker 3: help out, but the difficulties of doing a combined bid

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Speaker 3: became too big, and so that's put on the back burner.

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Speaker 3: You need to have a partner really you need two

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Speaker 3: incomes to do it, that's the first thing. And if

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Speaker 3: you're not partnered up, well you fall behind. Another text says,

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Speaker 3: intentionally or not, the boomers have sold us out by

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Speaker 3: eating up the property market. I will talk next hour

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Speaker 3: a little bit about what happened on the share market yesterday,

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Speaker 3: even though we had a big float, because that shows

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Speaker 3: how our economy has been skewed towards property and not

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Speaker 3: towards paying investments. What else have we got here? Oh well,

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Speaker 3: look I'll tell you what we've got the scrutiny committees,

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Speaker 3: which I think is being brilliant. What have we had

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Speaker 3: so far? We had cooked the books yesterday. We've had

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Speaker 3: Ian Rennie today warning that Jude the global slowdown, New

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Speaker 3: Zealand souper is becoming unaffordable. Acc privacy breaches are now

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Speaker 3: apparently we're not going to get enough cops. Ginny from

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Speaker 3: Labor at five oh five, But the big one today

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Speaker 3: is at five point thirty mister Richard Miles, who is

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Speaker 3: the Deputy Privatister of Australia also the Defense Minister, having

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Speaker 3: a word with Judith and Winston all about how we

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Speaker 3: do our defense, what we're doing with our defense, Chinese ICBMs,

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Speaker 3: orcas all that stuff, five point thirty today, See you there.

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Speaker 1: Hard questions, strong opinion, Andrew Dickens on Heather duper Cy,

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Speaker 1: Alan Drive, where's one New Zealand, let's get connected news.

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Speaker 2: Talk as it'd be.

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Speaker 3: Good after I rocking back to the program. Now there's

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Speaker 3: a reason we're playing the song, and it's because this

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Speaker 3: is Spotify Rapped Day. This is the day that Spotify

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Speaker 3: informs everybody who uses that app right around the world

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Speaker 3: exactly what records they listen to. Did I just say records?

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Speaker 3: Did I just sound like an old person? What records

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Speaker 3: you listen to over the course of this year, How

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Speaker 3: often you listen to it, which artists you listen to.

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Speaker 3: They will tell you how long your longest period of

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Speaker 3: time listening to a record was or a playlist was.

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Speaker 3: Apparently one day I listened to Spotify for four hundred

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Speaker 3: and sixty six minutes in a row, and Spotify actually

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Speaker 3: asked me how did you find the time? And I said,

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Speaker 3: I just put it on and lift it on. Man anyway,

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Speaker 3: So all day long we're going to be talking about

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Speaker 3: the wrapped playlists that have come out from around the world.

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Speaker 3: This song is Hosier. It's called Too Sweet. It is

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Speaker 3: the third most to song by Kiwi's on Spotify this year.

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Speaker 3: Can you turn up a bit more? Can we hand

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Speaker 3: so bit by Bett, We'll go through all the songs.

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Speaker 3: We'll tell you what the number one song loved by

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Speaker 3: New Zealanders was. I can't believe it, really, I don't

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Speaker 3: even really know the song, but anyway, we'll talk about that.

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Speaker 3: At the very end of the show. I will play

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Speaker 3: the song that I played the most, and even I

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Speaker 3: was shot and I went, really did I play that

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Speaker 3: the most? And apparently I played it so much. I'm

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Speaker 3: in the top point five percent of the entire globe

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Speaker 3: in playing the song. And it's not what you think

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Speaker 3: it might be. And what's also very exciting is that

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Speaker 3: we will play you Christopher Luxen's wrapped playlist What songs

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Speaker 3: did Christopher like? And shortly Murray Olds will tell us

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Speaker 3: what and to the Alban Eazy liked? Can you imagine

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Speaker 3: It's all to come?

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Speaker 1: It's the world wires on Newstalgs Eddy Drive.

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Speaker 3: So he woke up to this morning to just the

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Speaker 3: most extraordinary story. A CEO of a health insurance company

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Speaker 3: in Manhattan in America, in Manhattan shot dead in what

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Speaker 3: looked like a gang killing. It was incredible. Manhattan police

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Speaker 3: are still searching for the man who killed the CEO.

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Speaker 3: His name was Brian Thompson. He was shot in the

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Speaker 3: street by a hooded mass man who then jumped on

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Speaker 3: a bike and fled into Central Park. Now here is

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Speaker 3: the New York City Police Commissioner.

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Speaker 10: I want to be clear at this time, every indication

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Speaker 10: is that this was a premeditated, pre planned, targeted attack.

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Speaker 3: All right, surprise, surprise, the French government dead. Indeed, go

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Speaker 3: and collapse. We knew it would. Michel Barnier has become

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Speaker 3: the first French prime minister to lose a no confidence

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Speaker 3: vote since nineteen sixty two. A politics professor at Queen

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Speaker 3: Mary University in London says President Macron is going to

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Speaker 3: have to find a new prime minister very very quickly.

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Speaker 11: France has no budget and their current budget expires at

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Speaker 11: the end of this month, so they face a potential shutdown.

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Speaker 7: The situation similar to ones we've seen in America.

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Speaker 3: Sure, but it took them weeks and weeks and weeks

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Speaker 3: and weeks and weeks to find Michelle Barnier. So you

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Speaker 3: don't just pick up one of these prime ministers every

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Speaker 3: day at the second hand store. And finally, bah, sleepy jar. Yes,

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Speaker 3: US President Joe Biden fell asleep. He nodded off during

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Speaker 3: a meeting. He's been attending a summit to Angola along

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Speaker 3: with several African leaders. A video from the event shows

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Speaker 3: him resting on his elbow and then, ah, sleepy jar,

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Speaker 3: fell asleep.

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Speaker 1: International Correspondence with Ends and Eye Insurance, Peace of mind

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Speaker 1: for New Zealand business.

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Speaker 3: Murray Olds joins us from Australia.

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Speaker 6: Hello, Murray, Hello, Andrew gonna afternoon?

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Speaker 3: Right, too excited to find out what Albo has been

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Speaker 3: listening to on Spotify. Don't tell us, but you know,

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Speaker 3: is it shocking?

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Speaker 6: Well, I haven't heard him of them?

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Speaker 9: Well, I've heard of one.

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Speaker 6: G Flips from Melbourne.

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Speaker 3: Okay, we'll save this to the end.

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Speaker 6: She she's a drummer and she sings someone called Angie McMahon.

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Speaker 3: Stop hockey, Dad, stop stop stop it, stop it. We'll

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Speaker 3: save us to the end. That's given some real news, right,

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Speaker 3: Dutton says Labour's stands on Israel's two extreme.

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Speaker 6: Yeah, I mean, please give me a break. I mean

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Speaker 6: talk about overegging the pud. He says that. Peter Dutton,

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Speaker 6: the Opposition leader, says Labour's extreme left wing has hijacked

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Speaker 6: the whole debate over Israel. Listened to this, Dunton claims

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Speaker 6: what Labour's done threatens quote civilization itself unquote. Now the

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Speaker 6: catalyst for all this over the top up, heerbly, a

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Speaker 6: Labor government decision to back a United Nations decision, a

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Speaker 6: resolution that supports the idea of a Palestinian state. Well,

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Speaker 6: whoop do you do hello, It's been on the books

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Speaker 6: over here for a long time, a two state solution,

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Speaker 6: one a state of Israel, then a state of Palestine. Now,

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Speaker 6: the Opposition says Labor is carrying favor with Arab voters

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Speaker 6: in the western suburbs of Sydney and Melbourne, with of

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Speaker 6: course a federal election coming up next year. Lots of

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Speaker 6: Muslim migrants have settled in those western suburbs. Jewish organized organizations,

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Speaker 6: on the other handrate have basically condemned the latter's vote,

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Speaker 6: says Israel has been abandoned by the Australian government. So

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Speaker 6: somewhere in the middle is from where I'm sitting, just

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Speaker 6: that it's a nothing burger.

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Speaker 3: I mean, come on, yes, extremities exist on all sides

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Speaker 3: and they're not finding common ground. And I think you

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Speaker 3: find that's the problem.

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Speaker 6: No kidding, absolutely right, And I don't think there's any

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Speaker 6: interest in finding common ground in the run up to

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Speaker 6: an election. They both want to take positions and belt

435
00:21:43,560 --> 00:21:47,119
Speaker 6: each other over the head. There's no attempt anymore in

436
00:21:47,160 --> 00:21:50,680
Speaker 6: Australian politics to find any common ground for the common good.

437
00:21:51,680 --> 00:21:51,919
Speaker 9: All right.

438
00:21:51,920 --> 00:21:54,040
Speaker 3: We've got a father found guilty of sexually assaulting his

439
00:21:54,200 --> 00:21:56,160
Speaker 3: daughter and this.

440
00:21:56,320 --> 00:21:59,640
Speaker 6: Is an Australian first because the young woman involved has

441
00:21:59,720 --> 00:22:03,000
Speaker 6: multi personalities. She was the key witness in a jury

442
00:22:03,040 --> 00:22:06,040
Speaker 6: trial in New South Wales up in Newcastle. Actually she's

443
00:22:06,040 --> 00:22:11,160
Speaker 6: got a condition called disassociative identity disorder in the old

444
00:22:11,240 --> 00:22:13,840
Speaker 6: language that you and I would understand former it was

445
00:22:13,840 --> 00:22:17,440
Speaker 6: formerly known as multiple personality disorder. The father has been

446
00:22:17,440 --> 00:22:20,840
Speaker 6: on trial since October and Newcastle twenty six charges of

447
00:22:21,000 --> 00:22:24,400
Speaker 6: sexual assault against his daughter and another sibling. The daughter

448
00:22:24,440 --> 00:22:26,640
Speaker 6: spent ten days in the witness box. This has never

449
00:22:26,640 --> 00:22:29,679
Speaker 6: happened in Australia before. And she was sworn in Andrew

450
00:22:29,800 --> 00:22:33,000
Speaker 6: as herself, as a five year old girl and as

451
00:22:33,040 --> 00:22:37,959
Speaker 6: an older woman, and each personality gave evidence so you know,

452
00:22:38,080 --> 00:22:41,000
Speaker 6: the juris come down and found and found the father

453
00:22:41,080 --> 00:22:44,600
Speaker 6: guilty of twenty three of twenty six charges. He's going

454
00:22:44,640 --> 00:22:50,080
Speaker 6: to be sentenced next year. Basically, the prosecution said, listen,

455
00:22:50,359 --> 00:22:54,399
Speaker 6: the daughter's evidence was reliable. As far as the defense claims,

456
00:22:54,400 --> 00:22:57,760
Speaker 6: it was completely unacceptable. But the found in favor of

457
00:22:57,760 --> 00:22:58,920
Speaker 6: the prosecution.

458
00:22:58,800 --> 00:23:02,040
Speaker 3: She could actually turn the personalities on and off at

459
00:23:02,080 --> 00:23:05,520
Speaker 3: will and therefore answer the questions depending on which personality

460
00:23:05,640 --> 00:23:06,560
Speaker 3: was being asked the question.

461
00:23:07,640 --> 00:23:10,440
Speaker 6: I think she was sworn in as each personality separately

462
00:23:10,520 --> 00:23:13,800
Speaker 6: and then was asked questions relating to that personality and

463
00:23:13,840 --> 00:23:17,159
Speaker 6: the allegations that personality had made. That's my understanding.

464
00:23:17,200 --> 00:23:18,040
Speaker 11: I was not in court.

465
00:23:18,119 --> 00:23:20,720
Speaker 3: No, that's incredible, all right. But by the way, that man,

466
00:23:20,840 --> 00:23:23,359
Speaker 3: you know, it's bad enough to abuse her daughter, to

467
00:23:23,440 --> 00:23:26,920
Speaker 3: abuse a daughter with mental difficulties. Is he wants to

468
00:23:26,920 --> 00:23:27,320
Speaker 3: come back?

469
00:23:28,119 --> 00:23:28,320
Speaker 8: Yeah?

470
00:23:28,520 --> 00:23:29,080
Speaker 5: No kidding.

471
00:23:29,359 --> 00:23:33,400
Speaker 3: So let's get into this Anthony Albanesi, Yeah, Albo and

472
00:23:33,440 --> 00:23:35,560
Speaker 3: what his music tastes. I mean, we know him as

473
00:23:35,600 --> 00:23:38,119
Speaker 3: a bit of a liberal lefty as a student, so

474
00:23:38,160 --> 00:23:40,760
Speaker 3: I expect them Crosby Stills Nation young but a hippy

475
00:23:40,840 --> 00:23:41,480
Speaker 3: stuff in there.

476
00:23:41,680 --> 00:23:44,920
Speaker 6: No, no, no, no, he was he was far too

477
00:23:45,000 --> 00:23:47,520
Speaker 6: radical to be at Crosby Stills. Now he's probably too

478
00:23:47,560 --> 00:23:49,800
Speaker 6: young to to be fair. I mean he has always

479
00:23:49,840 --> 00:23:53,159
Speaker 6: been a lad, a musical lad Albanizi, right from the

480
00:23:53,160 --> 00:23:55,360
Speaker 6: student days. He's got T shirts with you know, all

481
00:23:55,400 --> 00:23:58,679
Speaker 6: sorts of cult bands, mainly UK punk bands. To be

482
00:23:58,720 --> 00:24:02,600
Speaker 6: fair anyway, his list of his playlist for the year

483
00:24:02,640 --> 00:24:05,080
Speaker 6: has been released and I've only heard of one of them,

484
00:24:05,080 --> 00:24:07,720
Speaker 6: and that's g Flip. She's a young woman from Melbourne.

485
00:24:08,240 --> 00:24:10,840
Speaker 6: She's a drummer and sings, writes her own materials. Is

486
00:24:10,880 --> 00:24:11,440
Speaker 6: pretty odd.

487
00:24:12,160 --> 00:24:13,879
Speaker 3: Okay, we've got to go. We're got some g Flip

488
00:24:13,880 --> 00:24:15,560
Speaker 3: for here right now for those people who never heard

489
00:24:16,000 --> 00:24:23,320
Speaker 3: O pleas enough, pleas enough, so giving up with the time.

490
00:24:25,800 --> 00:24:29,560
Speaker 6: Then he's got someone called Angie McMahon. He's got Hockey Dad, Lime,

491
00:24:29,680 --> 00:24:33,280
Speaker 6: Cordial and sting Ray and I think sting Rays an

492
00:24:33,280 --> 00:24:37,200
Speaker 6: indigenous band from the Northern Territory. But I mean it's

493
00:24:37,320 --> 00:24:38,600
Speaker 6: it's certainly not my playlist.

494
00:24:38,680 --> 00:24:40,040
Speaker 9: My playlist is bloody boring him.

495
00:24:40,040 --> 00:24:44,439
Speaker 6: It led Zeppelin, taj mahal And and history podcasts and

496
00:24:44,440 --> 00:24:45,399
Speaker 6: that'll do me nicely.

497
00:24:45,480 --> 00:24:46,840
Speaker 3: I'm going to reveal mine at the very end of

498
00:24:46,880 --> 00:24:48,520
Speaker 3: the program. But I can tell you that New Order

499
00:24:48,520 --> 00:24:50,400
Speaker 3: got up there because I went to a Joy Division

500
00:24:50,440 --> 00:24:53,200
Speaker 3: gig Peter looking the Light, and so New Order got

501
00:24:53,240 --> 00:24:55,760
Speaker 3: in there. But and also I got some of the

502
00:24:55,840 --> 00:24:57,880
Speaker 3: church got in there, under the Milky Way got in there.

503
00:24:57,920 --> 00:24:59,960
Speaker 3: So you know, I'm keeping to my age there. But there,

504
00:25:00,000 --> 00:25:02,200
Speaker 3: and there was a few songs that popped in there

505
00:25:02,200 --> 00:25:03,880
Speaker 3: that came out this year, and people will go, what

506
00:25:03,960 --> 00:25:05,720
Speaker 3: the hell were you on, Dickens, But you know, hey,

507
00:25:05,720 --> 00:25:07,520
Speaker 3: we're open, We're open to new things.

508
00:25:08,320 --> 00:25:08,840
Speaker 9: No kidding.

509
00:25:08,880 --> 00:25:10,800
Speaker 6: A bit of herb superb and let the music fly.

510
00:25:10,960 --> 00:25:14,720
Speaker 3: Brother, Wow, that's the credit to day how you are

511
00:25:14,840 --> 00:25:18,399
Speaker 3: the best mate? Good times, bad times?

512
00:25:18,400 --> 00:25:18,920
Speaker 6: Here we go.

513
00:25:19,760 --> 00:25:34,480
Speaker 3: Yeah, that's enough fun, Barry. So does Barry have Spotify?

514
00:25:35,520 --> 00:25:41,840
Speaker 3: What's on his Spotify? Marla back Beethoven? We'll ask Barry's her.

515
00:25:41,800 --> 00:25:44,520
Speaker 1: Next politics with centrics?

516
00:25:44,720 --> 00:25:47,120
Speaker 2: Credit, check your customers and get payment certainty.

517
00:25:47,640 --> 00:25:50,000
Speaker 9: You got to do when the whole.

518
00:25:51,400 --> 00:25:52,480
Speaker 2: No, when the fall?

519
00:25:54,080 --> 00:25:54,199
Speaker 12: No?

520
00:25:54,520 --> 00:25:59,320
Speaker 3: Excuse me? Excuse me ans why are we playing this.

521
00:26:02,320 --> 00:26:02,399
Speaker 8: Us?

522
00:26:02,560 --> 00:26:02,879
Speaker 11: Barry?

523
00:26:03,480 --> 00:26:03,760
Speaker 13: Barry?

524
00:26:03,760 --> 00:26:05,520
Speaker 3: Why why are we playing this Barry?

525
00:26:06,800 --> 00:26:09,960
Speaker 10: Yeah, well I didn't quite realize you were going to

526
00:26:09,960 --> 00:26:12,919
Speaker 10: play those, but there you go. It's the old story

527
00:26:12,960 --> 00:26:15,360
Speaker 10: isn't it. I think you tend to like music that

528
00:26:15,960 --> 00:26:19,520
Speaker 10: you grew up with. And I grew up with Kenny Rodgers.

529
00:26:20,320 --> 00:26:23,359
Speaker 10: I grew up with Dean Martin. My parents used to

530
00:26:23,400 --> 00:26:26,040
Speaker 10: like Dean Martin. So when I'm on my own on

531
00:26:26,160 --> 00:26:28,480
Speaker 10: that say, and because I'm not allowed to plan any

532
00:26:28,640 --> 00:26:31,200
Speaker 10: any time out bet, but when I'm on my own,

533
00:26:31,600 --> 00:26:33,080
Speaker 10: I listened to Dean Martin.

534
00:26:33,080 --> 00:26:34,600
Speaker 9: It reminds me of my mother.

535
00:26:34,840 --> 00:26:40,000
Speaker 10: And you know, and the Gambler, it's reminiscent of your youth.

536
00:26:40,200 --> 00:26:43,320
Speaker 3: Do you realize the old bottle of his talks? B Dallas?

537
00:26:43,359 --> 00:26:45,439
Speaker 3: His favorite song was the Gambler. The Gambler is a

538
00:26:45,440 --> 00:26:47,000
Speaker 3: good song. It's a great song. And we've just heard

539
00:26:47,000 --> 00:26:48,800
Speaker 3: that and that's a lovely thing. Yeah, I know that

540
00:26:48,840 --> 00:26:50,920
Speaker 3: I'm the same. I'm the same because on my list

541
00:26:51,000 --> 00:26:54,800
Speaker 3: was Eva Cassidy and Autumn Leaves very good. It's a

542
00:26:54,880 --> 00:26:56,440
Speaker 3: beautiful song. But there we go.

543
00:26:56,800 --> 00:26:57,000
Speaker 11: Aunt.

544
00:26:57,040 --> 00:26:58,800
Speaker 3: You loved the scrutiny week. You know, we had cooked

545
00:26:58,800 --> 00:27:01,600
Speaker 3: the books the other day. We had the acc getting

546
00:27:01,600 --> 00:27:04,760
Speaker 3: into trouble about privacy breaches. Everyone's revealing everything. We've got

547
00:27:04,800 --> 00:27:07,080
Speaker 3: Mark Mitchell today going, oh, we might not make the

548
00:27:07,119 --> 00:27:07,760
Speaker 3: five hundred.

549
00:27:08,200 --> 00:27:09,680
Speaker 9: They never were going to make the part.

550
00:27:10,840 --> 00:27:13,280
Speaker 10: And I'm sure Ginny Anderson will love it because I

551
00:27:13,320 --> 00:27:15,160
Speaker 10: know you've got a roll after five o'clock.

552
00:27:15,720 --> 00:27:18,480
Speaker 3: It'll be music to her ears. And now we've got

553
00:27:18,480 --> 00:27:20,040
Speaker 3: stuff about an FDA with India.

554
00:27:20,080 --> 00:27:22,920
Speaker 10: Well you know again that was a promise that Chris

555
00:27:23,000 --> 00:27:25,800
Speaker 10: Luxen made when he's out on the election campaign saying

556
00:27:25,840 --> 00:27:29,320
Speaker 10: that we would get a free trade agreement with India

557
00:27:29,800 --> 00:27:32,000
Speaker 10: in the first term of government. Well, you know that

558
00:27:32,240 --> 00:27:38,840
Speaker 10: is really a big ask because the Indians are protectionist

559
00:27:38,920 --> 00:27:44,560
Speaker 10: when it comes to obviously meat and beef. Yes, they

560
00:27:44,720 --> 00:27:48,960
Speaker 10: respect their count rules, I know, so that's.

561
00:27:48,800 --> 00:27:49,600
Speaker 9: Going to be difficult.

562
00:27:49,640 --> 00:27:54,119
Speaker 10: And you had Tod maclay, the Overseas Trade Minister, before

563
00:27:54,200 --> 00:27:58,120
Speaker 10: the Select Committee today and he was saying, look, if

564
00:27:58,240 --> 00:27:59,080
Speaker 10: we don't make.

565
00:27:58,880 --> 00:28:01,680
Speaker 9: It in the first three years is then don't.

566
00:28:01,480 --> 00:28:05,080
Speaker 10: Blame Chris Luson, blame me, so that he's taking the

567
00:28:05,119 --> 00:28:09,879
Speaker 10: fall for his boss. But you know any imagination that

568
00:28:09,920 --> 00:28:12,880
Speaker 10: you know, if you know about trade, you would never

569
00:28:12,960 --> 00:28:16,160
Speaker 10: say that in three years a country, now the most

570
00:28:16,160 --> 00:28:20,359
Speaker 10: populous country in the world, India, would give a free

571
00:28:20,400 --> 00:28:24,240
Speaker 10: trade agreement away that easily. I was there with John Keene.

572
00:28:24,320 --> 00:28:26,800
Speaker 10: Now that was a number of years ago. We were

573
00:28:26,800 --> 00:28:30,240
Speaker 10: talking about a free trade agreement then, but of course

574
00:28:30,840 --> 00:28:36,200
Speaker 10: I think it weltered a lot during the Labor years

575
00:28:36,280 --> 00:28:39,320
Speaker 10: because they never really paid much attention to India. And

576
00:28:39,360 --> 00:28:42,040
Speaker 10: to get a free trade agreement, you've got to have

577
00:28:42,080 --> 00:28:44,560
Speaker 10: a lot of contact with the country, and I must

578
00:28:44,600 --> 00:28:48,000
Speaker 10: say that this government has had a lot of contact

579
00:28:48,320 --> 00:28:48,800
Speaker 10: with India.

580
00:28:48,800 --> 00:28:51,040
Speaker 3: I mean, just be fair. Though, Labor put all the

581
00:28:51,040 --> 00:28:55,239
Speaker 3: effort into the cppp ttpp pptt, you know, and they

582
00:28:55,280 --> 00:28:56,600
Speaker 3: put all their effort in there, and then it got

583
00:28:56,600 --> 00:28:58,640
Speaker 3: all but it messed up because because of Canada and

584
00:28:58,680 --> 00:29:03,080
Speaker 3: all sorts of stuff. So that was Trump and Trump. Yeah,

585
00:29:03,120 --> 00:29:04,320
Speaker 3: I know, I know, and I get all that. So

586
00:29:04,360 --> 00:29:07,360
Speaker 3: they were concentrated there at of course Lux's coming. He

587
00:29:07,360 --> 00:29:10,200
Speaker 3: wants wins on the board and he's thought, there's in Dea,

588
00:29:10,360 --> 00:29:10,560
Speaker 3: you know.

589
00:29:10,600 --> 00:29:13,880
Speaker 10: Well yeah, so look he's met with the Indian Prime

590
00:29:13,920 --> 00:29:19,800
Speaker 10: Minister Modi, the Indian president was here. Luxon's been invited

591
00:29:19,840 --> 00:29:23,880
Speaker 10: to go there, so you know, the dialogue, there will

592
00:29:23,920 --> 00:29:26,320
Speaker 10: be a lot of dialogue. And the more a country

593
00:29:26,360 --> 00:29:30,040
Speaker 10: gets to know you, the better chances are that you'll

594
00:29:30,040 --> 00:29:31,240
Speaker 10: get a free trade agreement.

595
00:29:31,360 --> 00:29:32,800
Speaker 9: Think of the China Free truck course.

596
00:29:33,040 --> 00:29:34,960
Speaker 3: Now, you mentioned Trump, and of course we're all worried

597
00:29:34,960 --> 00:29:36,800
Speaker 3: about tariffs and trade wars and what's going to happen

598
00:29:36,840 --> 00:29:37,680
Speaker 3: to our meat and stuff.

599
00:29:37,880 --> 00:29:42,120
Speaker 10: Yeah, well, you know Trump, he is talking about ten

600
00:29:42,120 --> 00:29:47,640
Speaker 10: percent tariffs on countries like New Zealand. Todd McClay said that, look,

601
00:29:47,680 --> 00:29:51,240
Speaker 10: he was trade minister the last time Trump was in power.

602
00:29:52,280 --> 00:29:56,040
Speaker 10: Certainly tariffs did go up, but so did trade with

603
00:29:56,120 --> 00:29:58,440
Speaker 10: the US. So you know it was given with the

604
00:29:58,480 --> 00:30:00,840
Speaker 10: one hand and take with the others. So so the

605
00:30:00,880 --> 00:30:05,760
Speaker 10: biggest worry I think for countries that belong to this

606
00:30:06,520 --> 00:30:10,600
Speaker 10: trading group called BRICK, they would be worried because Trump

607
00:30:10,680 --> 00:30:14,960
Speaker 10: is now talking about one hundred percent tariffs on them.

608
00:30:15,280 --> 00:30:17,680
Speaker 10: But this is if they come up with an alternative currency.

609
00:30:17,680 --> 00:30:23,920
Speaker 10: And when you've got countries that belong to BRICK, like Brazil, Russia, India, China,

610
00:30:24,040 --> 00:30:30,160
Speaker 10: South Africa, Iran, Egypt, Ethiopia and the United A inwards,

611
00:30:30,560 --> 00:30:34,120
Speaker 10: you've got a lot of money there, and you know

612
00:30:34,160 --> 00:30:36,040
Speaker 10: who's to know that they may come up with an

613
00:30:36,080 --> 00:30:37,560
Speaker 10: alternative currency.

614
00:30:37,480 --> 00:30:40,120
Speaker 3: And they're having just to reiterate, they've been using the

615
00:30:40,200 --> 00:30:43,560
Speaker 3: US dollar. The US dollar became the world's currency de fecto.

616
00:30:44,280 --> 00:30:46,840
Speaker 3: But now they're actually saying, well, we actually don't like America.

617
00:30:46,880 --> 00:30:48,880
Speaker 3: We don't want to use your money. And it's like the.

618
00:30:48,760 --> 00:30:51,080
Speaker 10: Euro and the green back. You know, they have been

619
00:30:51,120 --> 00:30:53,320
Speaker 10: the dominant currency as well. You know, if you do

620
00:30:53,400 --> 00:30:56,800
Speaker 10: live in these countries, you are big economies. Now you go, well,

621
00:30:57,040 --> 00:31:00,640
Speaker 10: maybe we should look at our own form of currency

622
00:31:00,680 --> 00:31:02,280
Speaker 10: and use that in some way.

623
00:31:02,480 --> 00:31:06,640
Speaker 3: Good stuff. Well, let you get home and music and

624
00:31:06,680 --> 00:31:09,040
Speaker 3: listen to your music. But of course Heather is at home,

625
00:31:09,520 --> 00:31:11,920
Speaker 3: so I'm sorry, so you won't be doing.

626
00:31:11,760 --> 00:31:13,560
Speaker 9: It today, but tomorrow my headphones.

627
00:31:13,680 --> 00:31:16,080
Speaker 3: Yeah, but tomorrow she's back at work, and so you

628
00:31:16,080 --> 00:31:17,840
Speaker 3: can do your thing of four to forty five, rush

629
00:31:17,840 --> 00:31:19,880
Speaker 3: home and you can play as much Kenny as you like.

630
00:31:19,960 --> 00:31:21,240
Speaker 3: Thank you so much what Eggy.

631
00:31:21,080 --> 00:31:23,400
Speaker 9: Tapsters put to Dean Martin.

632
00:31:24,000 --> 00:31:25,880
Speaker 3: There you go, good stuff, thank you.

633
00:31:26,840 --> 00:31:31,080
Speaker 1: Putting the tough questions to the newspakers the mic asking breakfast.

634
00:31:30,760 --> 00:31:32,960
Speaker 14: Let's move from the government on farm to forest conversion.

635
00:31:32,960 --> 00:31:35,000
Speaker 14: By next October, limits are going to be in place

636
00:31:35,000 --> 00:31:37,040
Speaker 14: on what land can be converted and how much planting

637
00:31:37,080 --> 00:31:40,239
Speaker 14: can happen. Fed Farmers Forestry spokesperson Toby Williams with us

638
00:31:40,240 --> 00:31:40,520
Speaker 14: on this.

639
00:31:40,520 --> 00:31:41,920
Speaker 15: This is one of I think we've been asking for it,

640
00:31:42,000 --> 00:31:45,240
Speaker 15: having those restrictions on land classics, but also having the

641
00:31:45,280 --> 00:31:47,400
Speaker 15: ability for farmers still to plant up to twenty five

642
00:31:47,440 --> 00:31:50,160
Speaker 15: percent of their own land irrespective of what the slopers

643
00:31:50,200 --> 00:31:51,320
Speaker 15: are a great coop for farming.

644
00:31:51,480 --> 00:31:53,840
Speaker 3: Have you had good input into it of the government

645
00:31:53,880 --> 00:31:54,320
Speaker 3: listen to.

646
00:31:54,280 --> 00:31:56,320
Speaker 15: You, Yeah, we have. It's really added all of our

647
00:31:56,400 --> 00:31:57,800
Speaker 15: calls and we need to be really careful.

648
00:31:57,840 --> 00:31:59,440
Speaker 16: Here is Dale at Warwick. You coul still be planted

649
00:31:59,480 --> 00:32:01,200
Speaker 16: on those lands class We just can't.

650
00:32:00,960 --> 00:32:01,760
Speaker 15: Claim the eighty years.

651
00:32:01,840 --> 00:32:02,040
Speaker 9: Sorry.

652
00:32:02,120 --> 00:32:06,280
Speaker 15: It restores the talent between farming and production for asted back.

653
00:32:06,160 --> 00:32:08,760
Speaker 14: Tomorrow at six am the Mike Hosking Breakfast with the

654
00:32:08,840 --> 00:32:10,720
Speaker 14: Rain Drive of the Lawn News Talk z B.

655
00:32:10,960 --> 00:32:12,920
Speaker 3: Well, So scrutiny week this week and all sorts of

656
00:32:12,920 --> 00:32:14,600
Speaker 3: stuff is coming out. And the stuff that came out

657
00:32:14,640 --> 00:32:16,920
Speaker 3: today is that the police bosser has told the committee

658
00:32:17,120 --> 00:32:20,080
Speaker 3: that the government's election promise to train five hundred new

659
00:32:20,120 --> 00:32:23,280
Speaker 3: officers could take longer than the two year deadline that

660
00:32:23,280 --> 00:32:25,560
Speaker 3: they gave for themselves. Now remember this this is a

661
00:32:25,680 --> 00:32:30,280
Speaker 3: national and it's a coalition policy. Mark Mitchell said, we

662
00:32:30,360 --> 00:32:33,240
Speaker 3: will try New Zealand first, is part of the coalition

663
00:32:33,240 --> 00:32:37,160
Speaker 3: in agreement said no, we will do so it looks

664
00:32:37,200 --> 00:32:39,760
Speaker 3: like they will not do. So we were going to

665
00:32:39,760 --> 00:32:43,320
Speaker 3: talk to Ginny Anderson from Labor about this, but she

666
00:32:43,360 --> 00:32:45,000
Speaker 3: would just crow and say, oh, it's a break an

667
00:32:45,040 --> 00:32:47,480
Speaker 3: election promise and all that sort of thing. So we've

668
00:32:47,520 --> 00:32:50,160
Speaker 3: just found out that Casey Cassello from New Zealand First,

669
00:32:50,320 --> 00:32:53,160
Speaker 3: who is the Associate Police Minister, will talk to the

670
00:32:53,240 --> 00:32:56,200
Speaker 3: issue and we'll see what's gone wrong with the training,

671
00:32:56,240 --> 00:32:59,000
Speaker 3: what's gone wrong with finding these people, whether they can

672
00:32:59,040 --> 00:33:01,720
Speaker 3: actually ramp it all up, and whether they will meet

673
00:33:02,120 --> 00:33:03,840
Speaker 3: the colorless and promise that was made. So that's a

674
00:33:03,840 --> 00:33:08,760
Speaker 3: big story. In five point thirty Australia's Deputy Prime Minister

675
00:33:08,800 --> 00:33:12,880
Speaker 3: and Defense Minister will talk about defense in our regent, China,

676
00:33:13,440 --> 00:33:19,720
Speaker 3: icbm's North Korea Orcus and all five thirty today be here.

677
00:33:20,840 --> 00:33:24,000
Speaker 1: The only drive show you can trust to ask the questions,

678
00:33:24,120 --> 00:33:26,280
Speaker 1: get the answers by the facts and.

679
00:33:26,400 --> 00:33:27,720
Speaker 2: Give the analysis.

680
00:33:27,800 --> 00:33:31,160
Speaker 1: Andrew Dickens on Hither Duple c Allen Drive with One

681
00:33:31,240 --> 00:33:31,880
Speaker 1: New Zealand.

682
00:33:32,080 --> 00:33:34,520
Speaker 2: Let's get connected news talk as they'd be.

683
00:33:35,880 --> 00:33:38,040
Speaker 3: As good afternoon. The time is now seven minutes after

684
00:33:38,080 --> 00:33:40,720
Speaker 3: five on the fifth of December, and I love Scrutiny

685
00:33:40,760 --> 00:33:43,880
Speaker 3: Week today the police and the firing line Police bosses

686
00:33:44,960 --> 00:33:48,120
Speaker 3: warned today that the government's election promise to train five

687
00:33:48,240 --> 00:33:52,080
Speaker 3: hundred new officers could take longer than their self imposed

688
00:33:52,200 --> 00:33:56,960
Speaker 3: two year deadline. Police Commissioner Richard Chambers told Parliament's Justice

689
00:33:57,000 --> 00:34:01,160
Speaker 3: Select Committee today that he is refusing to lower the

690
00:34:01,240 --> 00:34:04,280
Speaker 3: quality of the training to meet the target, so it's

691
00:34:04,320 --> 00:34:07,000
Speaker 3: not going to happen. Labour jumped on this immediately, claiming

692
00:34:07,000 --> 00:34:10,799
Speaker 3: it's a broken election promise. So Casey Costello from New

693
00:34:10,920 --> 00:34:15,359
Speaker 3: Zealand first is the Associate Police Minister and joins me. Now, Hella, Casey, Hi,

694
00:34:15,520 --> 00:34:18,000
Speaker 3: how are you very good? So in your statement that

695
00:34:18,000 --> 00:34:20,480
Speaker 3: you're released today, you said that in all your consultations

696
00:34:20,520 --> 00:34:23,000
Speaker 3: with the police you have not been told to this

697
00:34:23,040 --> 00:34:26,000
Speaker 3: point that the target would not be met and the

698
00:34:26,040 --> 00:34:29,879
Speaker 3: deadline will be missed. So how does today's news make

699
00:34:29,920 --> 00:34:31,760
Speaker 3: you feel about your coalition promise.

700
00:34:32,760 --> 00:34:35,120
Speaker 17: Well, I think it's really important to get a context

701
00:34:35,120 --> 00:34:37,719
Speaker 17: of what the Commissioner was saying, and it was he

702
00:34:37,920 --> 00:34:42,120
Speaker 17: had said there was no deviation from the commitment to

703
00:34:42,160 --> 00:34:44,800
Speaker 17: achieve no end between twenty five and there was an

704
00:34:44,840 --> 00:34:48,400
Speaker 17: extrapolation around modeling around when it would have been achieved

705
00:34:48,400 --> 00:34:51,160
Speaker 17: and based upon my budget was said. But I've been

706
00:34:51,200 --> 00:34:53,759
Speaker 17: reassured that we are on track, that we're working hard.

707
00:34:53,840 --> 00:34:56,480
Speaker 17: We have a massive recruitment pipeline, the biggest that they've

708
00:34:56,480 --> 00:34:59,839
Speaker 17: ever seen, and so we're driving forward on that between

709
00:35:00,239 --> 00:35:01,240
Speaker 17: twenty five targets.

710
00:35:01,280 --> 00:35:02,840
Speaker 3: But doesn't this go right to the heart of the

711
00:35:02,840 --> 00:35:05,640
Speaker 3: coalition agreement because right from the get go Mark Mitchell

712
00:35:05,760 --> 00:35:08,560
Speaker 3: said that two years would be tough, but New Zealand

713
00:35:08,560 --> 00:35:11,120
Speaker 3: first reminded him of the Coalition agreement and two years

714
00:35:11,239 --> 00:35:13,680
Speaker 3: was actually a hell of a deadline. So isn't this

715
00:35:13,760 --> 00:35:16,359
Speaker 3: right the right to the number of your relationship with

716
00:35:16,920 --> 00:35:17,520
Speaker 3: the coalition.

717
00:35:18,760 --> 00:35:22,320
Speaker 17: Oh, it's like we have total commitment and Monster Mitchell

718
00:35:22,360 --> 00:35:24,640
Speaker 17: and I know we meet every week with police and

719
00:35:24,680 --> 00:35:28,719
Speaker 17: we talk about those targets and reaching those targets. We

720
00:35:28,800 --> 00:35:32,520
Speaker 17: have done a huge investment in terms of recruitment and

721
00:35:32,760 --> 00:35:36,680
Speaker 17: pipeline and engaging and that's why we have the mess

722
00:35:36,680 --> 00:35:40,040
Speaker 17: of pipeline. Unfortunately, we were behind the eight ball because

723
00:35:40,040 --> 00:35:42,600
Speaker 17: there was no wings that went through in December and January,

724
00:35:43,080 --> 00:35:45,839
Speaker 17: so there was no pipelines. We're in recovery and we've

725
00:35:45,880 --> 00:35:47,480
Speaker 17: done modeling and extrapolations.

726
00:35:47,520 --> 00:35:49,480
Speaker 3: Okay, so it's obviously a change that will be a

727
00:35:49,600 --> 00:35:52,759
Speaker 3: loocause obviously not going to happen in the time that

728
00:35:52,840 --> 00:35:55,080
Speaker 3: you would have liked and you wanted and you promised.

729
00:35:55,280 --> 00:35:57,840
Speaker 3: But are you okay with it now taking longer?

730
00:35:59,480 --> 00:36:01,560
Speaker 17: There's no And as I've said that, I have not

731
00:36:01,719 --> 00:36:04,759
Speaker 17: been advised in any way, shape or form, we're not

732
00:36:04,840 --> 00:36:08,040
Speaker 17: going to make the November twenty five targets.

733
00:36:08,200 --> 00:36:10,600
Speaker 3: So you have hoped that they're going to make it.

734
00:36:10,640 --> 00:36:12,279
Speaker 3: You actually still have some hope that they're going to

735
00:36:12,280 --> 00:36:12,520
Speaker 3: make it.

736
00:36:12,640 --> 00:36:14,600
Speaker 17: I still have hope that we make it. We have

737
00:36:14,719 --> 00:36:17,520
Speaker 17: increased the wing capacities, we have increased the number of

738
00:36:17,520 --> 00:36:20,960
Speaker 17: wings going through college. As long as our attrition rate

739
00:36:21,760 --> 00:36:24,879
Speaker 17: stays below the five percent, which it has done, then

740
00:36:24,920 --> 00:36:26,680
Speaker 17: I am confident that we can still achieve it.

741
00:36:27,080 --> 00:36:29,040
Speaker 3: Good Well, that's good news. But do you really think,

742
00:36:29,239 --> 00:36:31,160
Speaker 3: as Associate Police Minister you should have been kept in

743
00:36:31,160 --> 00:36:32,600
Speaker 3: the loop about this conversation more.

744
00:36:33,920 --> 00:36:35,719
Speaker 17: I think I've gone through and listened to what was

745
00:36:35,760 --> 00:36:37,839
Speaker 17: said in the Select Committee, and I think there has

746
00:36:37,880 --> 00:36:41,040
Speaker 17: been a little bit of distortion around how the conversation

747
00:36:41,120 --> 00:36:42,920
Speaker 17: went in the questions and how they were responded to.

748
00:36:43,000 --> 00:36:45,799
Speaker 17: I've spoken to the Commissioner today I'm satisfied they were

749
00:36:45,840 --> 00:36:46,239
Speaker 17: on track.

750
00:36:46,960 --> 00:36:49,120
Speaker 3: Have you been selected to actually talk about this issue?

751
00:36:49,120 --> 00:36:51,480
Speaker 3: Because New Zealand first was so adamant about it, and

752
00:36:51,480 --> 00:36:54,239
Speaker 3: so Mark Mitchell said, oh, well this is your problem.

753
00:36:54,640 --> 00:36:58,920
Speaker 17: No, I have the delegated under my Associate Police Minister,

754
00:36:58,960 --> 00:37:01,280
Speaker 17: I have the organized crime and I have the recruitment

755
00:37:01,280 --> 00:37:03,879
Speaker 17: of five hundred under my delegation. So I am the

756
00:37:03,920 --> 00:37:05,080
Speaker 17: right person to be speaking to.

757
00:37:05,520 --> 00:37:07,480
Speaker 3: And should the government really just let go of the

758
00:37:08,239 --> 00:37:12,840
Speaker 3: number and as as of course, Richard Chambers, the Police Commissioner,

759
00:37:12,880 --> 00:37:15,480
Speaker 3: said he wants the quality and really go for the quality.

760
00:37:16,640 --> 00:37:19,520
Speaker 17: Well, we are absolutely that's what We're not compromising quality

761
00:37:20,040 --> 00:37:22,520
Speaker 17: and that was why the pipeline has been so encouraging,

762
00:37:22,560 --> 00:37:25,960
Speaker 17: because we are getting some outstanding applicants through. I've been

763
00:37:26,040 --> 00:37:28,799
Speaker 17: to at least two of the recruitment weening so far,

764
00:37:29,200 --> 00:37:32,560
Speaker 17: fantastic people coming through. We haven't lowered the quality, and

765
00:37:32,719 --> 00:37:34,839
Speaker 17: I've been saying that right from the start we will

766
00:37:34,840 --> 00:37:37,560
Speaker 17: not lower the quality. But we haven't needed to because

767
00:37:37,600 --> 00:37:39,520
Speaker 17: we are getting fantastic applicants.

768
00:37:39,680 --> 00:37:42,480
Speaker 3: All right, thank you. We all wanting more cops. It

769
00:37:42,560 --> 00:37:47,200
Speaker 3: is now eleven minutes after five, so the government is

770
00:37:47,239 --> 00:37:51,480
Speaker 3: looking to crack down on business mergers. Commerce and Consumer

771
00:37:51,480 --> 00:37:54,000
Speaker 3: Affairs Minister Andrew Bailey has announced a review of New

772
00:37:54,080 --> 00:37:57,600
Speaker 3: Zealand's laws on competition. He wants to try and prevent

773
00:37:57,719 --> 00:38:01,040
Speaker 3: monopolies forming you know is losers and the winners eat

774
00:38:01,080 --> 00:38:03,319
Speaker 3: the losers and then before you know it, they become

775
00:38:03,360 --> 00:38:06,560
Speaker 3: a monopoly. Here reckons doing that will improve productivity. So

776
00:38:06,600 --> 00:38:09,040
Speaker 3: Andrew Bailey joins you right now, good evening to your minister.

777
00:38:09,520 --> 00:38:10,560
Speaker 18: Good evening, Andrew.

778
00:38:10,840 --> 00:38:12,520
Speaker 3: So why are you doing this.

779
00:38:13,680 --> 00:38:15,960
Speaker 18: Well, we haven't done it for twenty years. There hasn't

780
00:38:16,080 --> 00:38:19,440
Speaker 18: not been a formal review for twenty years, and we

781
00:38:19,520 --> 00:38:21,400
Speaker 18: need to make sure that we keep pace for our

782
00:38:21,440 --> 00:38:25,840
Speaker 18: international partners. Australias and the process of updating their competition

783
00:38:26,000 --> 00:38:29,960
Speaker 18: laws and many other jurisdictions around the world have done

784
00:38:30,040 --> 00:38:32,799
Speaker 18: the similar thing. But ultimately what we're looking at New

785
00:38:32,920 --> 00:38:36,120
Speaker 18: Zealanders we want to make sure that our laws fit

786
00:38:36,280 --> 00:38:39,359
Speaker 18: for purpose when it comes to assessing mergers and acquisitions.

787
00:38:39,360 --> 00:38:42,000
Speaker 18: And I think it's fair to say that we've got

788
00:38:42,000 --> 00:38:44,840
Speaker 18: a number of industries where we've got a small number

789
00:38:44,880 --> 00:38:47,759
Speaker 18: of players who've got very significant market shairs, and it

790
00:38:47,800 --> 00:38:51,720
Speaker 18: means less innovation happening and ultimately New Zealander is paying

791
00:38:51,760 --> 00:38:52,640
Speaker 18: more than they ought to.

792
00:38:52,960 --> 00:38:55,320
Speaker 3: So you don't mind small companies merging, is when bigger

793
00:38:55,400 --> 00:38:57,680
Speaker 3: companies merging, you get closer and closer to a monopoly.

794
00:38:58,800 --> 00:38:59,000
Speaker 6: Yeah.

795
00:38:59,080 --> 00:39:01,920
Speaker 18: No, this is the tension point. We'd want to encourage

796
00:39:01,960 --> 00:39:06,440
Speaker 18: competition and obviously economies of scale. When companies buy the

797
00:39:06,480 --> 00:39:09,480
Speaker 18: companies and grow, that's fine, but there comes a point

798
00:39:09,680 --> 00:39:15,120
Speaker 18: when those entities become very substantial. And we have had

799
00:39:15,160 --> 00:39:19,200
Speaker 18: instances in the past where we've allowed mergers to occur

800
00:39:19,320 --> 00:39:22,120
Speaker 18: that have result in poor outcomes. And I've given a

801
00:39:22,160 --> 00:39:25,560
Speaker 18: specific example. I think historically people would look back on

802
00:39:25,600 --> 00:39:28,319
Speaker 18: the merger of Progressive when they brought food Stuff, which

803
00:39:28,440 --> 00:39:32,239
Speaker 18: ended up with only two supermarket operators a New zenter

804
00:39:32,280 --> 00:39:36,719
Speaker 18: of large scales, that that was probably a poor decision

805
00:39:36,880 --> 00:39:40,279
Speaker 18: in hindsight, but Communist commissioners working under the rules that

806
00:39:40,360 --> 00:39:41,719
Speaker 18: they had in place at that time.

807
00:39:41,800 --> 00:39:42,759
Speaker 2: And what we.

808
00:39:42,719 --> 00:39:45,040
Speaker 18: Are suggesting now is we need to review that and

809
00:39:45,080 --> 00:39:48,080
Speaker 18: make sure that we don't allow mergers that in hindsight

810
00:39:48,120 --> 00:39:49,759
Speaker 18: we're going to look back and say, God, we should

811
00:39:49,840 --> 00:39:50,160
Speaker 18: stop that.

812
00:39:50,360 --> 00:39:52,560
Speaker 3: Yes, no, but you know, we're supposed to let the

813
00:39:52,560 --> 00:39:54,799
Speaker 3: free market do that, do its thing. That's what we did.

814
00:39:54,800 --> 00:39:57,399
Speaker 3: That's what Roger Douglas sports isn't. I can't imagine, in fact,

815
00:39:57,440 --> 00:39:58,719
Speaker 3: act being very happy about this.

816
00:40:00,480 --> 00:40:04,920
Speaker 18: So it's fine, it's not precluding mergers, but there comes

817
00:40:04,920 --> 00:40:09,719
Speaker 18: a point when if certain industries where they're dominated by

818
00:40:09,760 --> 00:40:14,200
Speaker 18: a few smaller players ultimately lead to outcomes where you

819
00:40:14,280 --> 00:40:19,080
Speaker 18: can't get access to innovative services or let's say even banking. Right,

820
00:40:19,440 --> 00:40:23,839
Speaker 18: I'm pursuing it and trying to encourage open banking, which

821
00:40:23,880 --> 00:40:28,880
Speaker 18: means FinTechs come and operate and offer alternative banking products.

822
00:40:29,360 --> 00:40:31,439
Speaker 18: That's the type of outcome we want to make sure

823
00:40:31,520 --> 00:40:34,319
Speaker 18: that occurs. But we're doing that because we're in a

824
00:40:34,360 --> 00:40:37,840
Speaker 18: situation where we've got not enough competition in the banking sector.

825
00:40:38,320 --> 00:40:39,920
Speaker 18: What we're trying to do is head that off for

826
00:40:39,960 --> 00:40:43,480
Speaker 18: the past by these changes, by looking at introducing and

827
00:40:43,520 --> 00:40:47,480
Speaker 18: giving the Commerce Commission greater flexibility to assess mergers when

828
00:40:47,480 --> 00:40:50,560
Speaker 18: they get to a point where potentially they could exert

829
00:40:51,960 --> 00:40:58,240
Speaker 18: overt and over bearing market power on how that operates.

830
00:40:58,400 --> 00:41:01,160
Speaker 3: And we've got to hear there's some new research out

831
00:41:01,160 --> 00:41:03,800
Speaker 3: from RFI Global that says that some retailers are charging

832
00:41:03,800 --> 00:41:07,000
Speaker 3: customers to use their credit card and the retailers are

833
00:41:07,000 --> 00:41:10,480
Speaker 3: pocketing it. How's your fee cap idea coming along?

834
00:41:11,560 --> 00:41:14,000
Speaker 18: We're the Commerce Commissioner is doing a lot of work

835
00:41:14,040 --> 00:41:17,040
Speaker 18: on a moment and I'm keen to make an announcement,

836
00:41:17,080 --> 00:41:19,600
Speaker 18: but yes, we want to make sure that New Zealanders

837
00:41:19,600 --> 00:41:22,440
Speaker 18: are not paying more than they ought to when they

838
00:41:22,840 --> 00:41:25,000
Speaker 18: go to buy their coffee and getting charged to church.

839
00:41:25,160 --> 00:41:27,200
Speaker 3: Yes, thank you very much, Andrew Bailey, all the best,

840
00:41:27,200 --> 00:41:32,400
Speaker 3: Thank you Commerce and Consumer Affairs Minister. Years ago, I

841
00:41:32,440 --> 00:41:35,720
Speaker 3: used to work for Alan Gibb. Remember Allen and Alan

842
00:41:36,080 --> 00:41:38,879
Speaker 3: and I would talk about economics and he would say

843
00:41:38,880 --> 00:41:43,000
Speaker 3: to me, monopolies are the preferred the preferred business unit

844
00:41:43,080 --> 00:41:46,280
Speaker 3: of a command state economy. I mean, ooh, you are disgusting.

845
00:41:46,360 --> 00:41:48,719
Speaker 3: How very communists have very socialist. He said yes, but

846
00:41:48,800 --> 00:41:51,600
Speaker 3: monopolies also happened from the free market because the winners

847
00:41:51,680 --> 00:41:53,600
Speaker 3: eat the losers and then they become the monopolies. And

848
00:41:53,600 --> 00:41:55,560
Speaker 3: I said, well that's a problem. What do we do then?

849
00:41:55,760 --> 00:42:00,359
Speaker 3: And he said to me, we smash him. The money

850
00:42:00,400 --> 00:42:02,920
Speaker 3: falls out and he reckoned. There was a twenty five

851
00:42:02,960 --> 00:42:05,480
Speaker 3: year cycle. And I think that's what mister Bailey is

852
00:42:05,480 --> 00:42:07,200
Speaker 3: trying to talk about. New stories will be can't just

853
00:42:07,200 --> 00:42:11,360
Speaker 3: do one last thing. Bitcoin hit a new record prices afternoon,

854
00:42:12,120 --> 00:42:15,480
Speaker 3: and now one bitcoin is worth one hundred thousand US dollars.

855
00:42:16,800 --> 00:42:18,840
Speaker 3: This is the first time it's hit the one hundred k.

856
00:42:19,480 --> 00:42:21,560
Speaker 3: The price of one bitcoin was sitting at one hundred

857
00:42:21,600 --> 00:42:23,920
Speaker 3: and two eight hundred and thirty six US dollars just

858
00:42:23,960 --> 00:42:26,400
Speaker 3: a few moments ago. Bitcoin has been going through the

859
00:42:26,480 --> 00:42:29,000
Speaker 3: roof since the US election. The price is up forty

860
00:42:29,000 --> 00:42:33,360
Speaker 3: five percent since then. So did you know that Airpoints

861
00:42:33,360 --> 00:42:36,360
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862
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863
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864
00:42:41,640 --> 00:42:44,759
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865
00:42:44,800 --> 00:42:48,480
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866
00:42:48,520 --> 00:42:52,560
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867
00:42:52,600 --> 00:42:56,560
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868
00:42:56,800 --> 00:42:59,520
Speaker 3: And the best part is one Airpoints dollar equals one

869
00:42:59,640 --> 00:43:02,000
Speaker 3: News Zealand dollars, so you know what you've got right

870
00:43:02,000 --> 00:43:03,960
Speaker 3: in front of you. You'll see your rewards add up

871
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872
00:43:05,960 --> 00:43:08,800
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873
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Speaker 3: to explore somewhere new. You can do rental cars, travel insurance,

874
00:43:11,560 --> 00:43:13,480
Speaker 3: you could buy a gift, You could treat yourself at

875
00:43:13,480 --> 00:43:16,239
Speaker 3: the airpoints store. There are many ways to use the

876
00:43:16,280 --> 00:43:19,040
Speaker 3: airpoints dollars. The only hard part is deciding what to

877
00:43:19,040 --> 00:43:21,000
Speaker 3: spend on them. The thing you have to do is

878
00:43:21,560 --> 00:43:24,600
Speaker 3: gather them up. So choose airpoints as your rewards and

879
00:43:24,640 --> 00:43:27,520
Speaker 3: start earning today with everyday rewards and airpoints.

880
00:43:28,040 --> 00:43:29,879
Speaker 2: Andrew dickas, so.

881
00:43:29,880 --> 00:43:34,640
Speaker 3: Let's talk rugby. France has reportedly declined New Zealand Rugby's

882
00:43:34,640 --> 00:43:37,320
Speaker 3: request to play excuse me to play the third of

883
00:43:37,400 --> 00:43:40,600
Speaker 3: three tests against France in the United States rather than

884
00:43:40,680 --> 00:43:42,600
Speaker 3: in New Zealand. So we're talking two tests in New

885
00:43:42,680 --> 00:43:45,520
Speaker 3: Zealand and then the India. Ar if you said right, well,

886
00:43:45,560 --> 00:43:49,440
Speaker 3: then we'll do one in America. France said no. A

887
00:43:49,480 --> 00:43:52,319
Speaker 3: French newspaper says the French rugby union don't want to

888
00:43:52,360 --> 00:43:55,640
Speaker 3: have the July Test in the US because they're concerned

889
00:43:55,640 --> 00:43:57,919
Speaker 3: about the impact that we'll have on their players' health,

890
00:43:58,160 --> 00:44:00,920
Speaker 3: which sounds like a very French and bizarre. This is

891
00:44:00,960 --> 00:44:03,640
Speaker 3: a blow for Insidar who we're hoping to make more

892
00:44:03,680 --> 00:44:05,839
Speaker 3: money having the test off shore. So I've got former

893
00:44:05,920 --> 00:44:09,080
Speaker 3: INDIDAAR chief executive David Moffatt with me right now.

894
00:44:09,080 --> 00:44:11,000
Speaker 16: How the David good Andrew?

895
00:44:11,640 --> 00:44:14,279
Speaker 3: So why would why why were we having the game

896
00:44:14,280 --> 00:44:16,200
Speaker 3: in America anyway against France.

897
00:44:17,040 --> 00:44:20,400
Speaker 16: Oh, it'll just be for money, nothing else. It's certainly

898
00:44:20,480 --> 00:44:22,880
Speaker 16: not going to be for the fans. Well, it's just

899
00:44:22,960 --> 00:44:25,239
Speaker 16: the money grab the fan.

900
00:44:25,360 --> 00:44:27,239
Speaker 3: Okay, Okay, So the fans are in New Zealand and

901
00:44:27,239 --> 00:44:30,480
Speaker 3: they're in France. Are they fans who are wanting New

902
00:44:30,560 --> 00:44:33,040
Speaker 3: Zealand France in America? Anyway? Does that market exist?

903
00:44:33,560 --> 00:44:33,799
Speaker 14: Well?

904
00:44:34,600 --> 00:44:37,360
Speaker 16: Well, the last time I looked at the All Blacks

905
00:44:37,360 --> 00:44:40,560
Speaker 16: were our national team and they don't play many games

906
00:44:40,560 --> 00:44:42,640
Speaker 16: here and they should be playing all the games that

907
00:44:42,680 --> 00:44:45,239
Speaker 16: they can play here, and that includes a three test

908
00:44:45,320 --> 00:44:48,080
Speaker 16: series against France. The fact that France don't want to

909
00:44:48,120 --> 00:44:51,960
Speaker 16: go to America has obviously killed that and I'm not

910
00:44:52,120 --> 00:44:55,200
Speaker 16: at all concerned that they have to be perfectly honest

911
00:44:55,200 --> 00:44:57,560
Speaker 16: with you. I think the last people, the enders that

912
00:44:57,800 --> 00:45:00,840
Speaker 16: this current New Zealand rugby union thinks about the fans.

913
00:45:01,440 --> 00:45:04,960
Speaker 16: They don't understand the fans pay for everything I mean,

914
00:45:05,120 --> 00:45:07,759
Speaker 16: you know, for everything, they just pay for everything and

915
00:45:07,880 --> 00:45:10,360
Speaker 16: they don't understand it and they're not concerned about it.

916
00:45:10,400 --> 00:45:12,120
Speaker 3: Is this anything to do with silver Lake, you know,

917
00:45:12,200 --> 00:45:13,520
Speaker 3: the American connection.

918
00:45:14,160 --> 00:45:16,520
Speaker 16: Well, they could well have something to do with it.

919
00:45:16,680 --> 00:45:20,400
Speaker 16: When when they announce a silver Lake deal, I suggested

920
00:45:20,440 --> 00:45:22,839
Speaker 16: that people should be should get used to the fact

921
00:45:22,880 --> 00:45:27,440
Speaker 16: that the will be more test matches played overseas, including

922
00:45:27,480 --> 00:45:31,080
Speaker 16: some of our domestic test matches. And that's what's happening.

923
00:45:31,440 --> 00:45:33,640
Speaker 16: Silver Lake deal. I don't think I haven't seen any

924
00:45:33,680 --> 00:45:36,840
Speaker 16: benefits from it, and they're just looking at the extra

925
00:45:36,880 --> 00:45:39,000
Speaker 16: ways of earning money. And if that's what they want

926
00:45:39,040 --> 00:45:41,600
Speaker 16: to do, go for it. Forget about your fans back

927
00:45:41,640 --> 00:45:44,120
Speaker 16: here in New Zealand who have supported this team for

928
00:45:44,200 --> 00:45:47,000
Speaker 16: well over one hundred years and they deserve to be

929
00:45:47,040 --> 00:45:48,640
Speaker 16: thought of and they're not by this mod.

930
00:45:49,360 --> 00:45:51,520
Speaker 3: Well, the French side that's coming to news is not

931
00:45:51,560 --> 00:45:53,600
Speaker 3: going to be good because you know, the clubs are

932
00:45:53,600 --> 00:45:56,759
Speaker 3: not not letting go the players and so that the

933
00:45:56,800 --> 00:45:58,840
Speaker 3: tour will be a little bit of a phisit anyway,

934
00:45:59,360 --> 00:46:00,120
Speaker 3: and don't you think.

935
00:46:00,840 --> 00:46:03,520
Speaker 16: Well it could possibly be. But see the difference is

936
00:46:03,560 --> 00:46:07,000
Speaker 16: that the clubs have a big say in French rugby,

937
00:46:07,719 --> 00:46:10,640
Speaker 16: and it seems to me that they're getting an even

938
00:46:10,680 --> 00:46:14,480
Speaker 16: bigger say because they don't want their players. You know,

939
00:46:14,480 --> 00:46:17,400
Speaker 16: they're not centrally contracted like in New Zealand rugby. So

940
00:46:17,400 --> 00:46:20,280
Speaker 16: they're saying, we don't want our players to be playing

941
00:46:20,280 --> 00:46:23,160
Speaker 16: a four club season, which in France will lasts until

942
00:46:23,200 --> 00:46:26,800
Speaker 16: about June normally. They don't want them hopping on airplanes

943
00:46:26,840 --> 00:46:31,120
Speaker 16: and coming over here, playing three test matches and then

944
00:46:31,239 --> 00:46:34,640
Speaker 16: going back and going straight back into training for their clubs,

945
00:46:34,640 --> 00:46:37,160
Speaker 16: because in France the clubs are more important than the

946
00:46:37,239 --> 00:46:37,879
Speaker 16: national team.

947
00:46:38,200 --> 00:46:40,960
Speaker 3: True enough, David Moffett, thank you so much for your expertise.

948
00:46:42,000 --> 00:46:43,839
Speaker 3: I know the Dazi water grape. When were talking about

949
00:46:43,840 --> 00:46:45,959
Speaker 3: this earlier, said look, yeah, play there all three games

950
00:46:45,960 --> 00:46:47,400
Speaker 3: in New Zealand. And if you're going to play the

951
00:46:47,400 --> 00:46:49,480
Speaker 3: third one instead of doing it in America, why don't

952
00:46:49,520 --> 00:46:51,440
Speaker 3: you do it in a regional town that hasn't had

953
00:46:51,440 --> 00:46:54,080
Speaker 3: the game for a while. And he said Yaro Stadium

954
00:46:54,280 --> 00:46:56,640
Speaker 3: or Trafalgar Park And I thought that's a great idea.

955
00:46:58,040 --> 00:47:01,560
Speaker 1: Digging deeper into the day's headlight sets, Andrew Dickens on

956
00:47:01,680 --> 00:47:04,800
Speaker 1: Heather due to clan drive with one new Zealand, let's

957
00:47:04,840 --> 00:47:06,560
Speaker 1: get connected and new stalks that'd be.

958
00:47:06,680 --> 00:47:08,040
Speaker 3: So it's a very big down on the inset X

959
00:47:08,160 --> 00:47:10,880
Speaker 3: yesterday as the Augan Council sold its airport shares and

960
00:47:10,920 --> 00:47:13,400
Speaker 3: now there's a one point three billion dollar future fund.

961
00:47:13,880 --> 00:47:16,040
Speaker 3: And the thing it was a bizarre day because brokers

962
00:47:16,080 --> 00:47:18,239
Speaker 3: were pulling money out of stock so then slamming it

963
00:47:18,280 --> 00:47:21,360
Speaker 3: into Auckland Airport, which meant instead of the market going up,

964
00:47:21,360 --> 00:47:23,560
Speaker 3: in fact the market had one of its biggest single

965
00:47:23,680 --> 00:47:26,799
Speaker 3: day falls this year. And what does that say to me?

966
00:47:26,920 --> 00:47:29,759
Speaker 3: It says our market is a weedy little thing with

967
00:47:30,000 --> 00:47:33,080
Speaker 3: very few hero stocks, and when a hero stock turns up,

968
00:47:33,120 --> 00:47:35,319
Speaker 3: we all pile it. And this says to me, it's

969
00:47:35,360 --> 00:47:37,400
Speaker 3: more proof that the way we invest is too heavily

970
00:47:37,440 --> 00:47:41,480
Speaker 3: skewed into the property market. Investment capital sits around in

971
00:47:41,520 --> 00:47:45,160
Speaker 3: bricks and mortar in property instead of firing on businesses

972
00:47:45,440 --> 00:47:48,160
Speaker 3: that provide us with jobs and in turn the government

973
00:47:48,160 --> 00:47:51,040
Speaker 3: with revenue so they can build more roads and they

974
00:47:51,080 --> 00:47:54,239
Speaker 3: can hire more doctors and we can get better. If

975
00:47:54,239 --> 00:47:57,200
Speaker 3: you look at government debt to GDP, there was around

976
00:47:57,239 --> 00:47:59,759
Speaker 3: about ninety percent at the end of last year. Not good.

977
00:48:00,680 --> 00:48:03,359
Speaker 3: Private debt is at one hundred and forty percent. That's

978
00:48:03,400 --> 00:48:07,839
Speaker 3: you and I at forty percent of GDP, that's private debt.

979
00:48:08,360 --> 00:48:10,520
Speaker 3: Some of that is working capital for businesses, but most

980
00:48:10,520 --> 00:48:13,000
Speaker 3: of it is in mortgages. It's in houses and not

981
00:48:13,040 --> 00:48:15,719
Speaker 3: in businesses and in jobs, which is why when the

982
00:48:15,760 --> 00:48:18,600
Speaker 3: Reserve Bank puts the squeeze on interest rates, we slump

983
00:48:18,640 --> 00:48:21,680
Speaker 3: into a recession quick smart and right about now, you're

984
00:48:21,680 --> 00:48:23,799
Speaker 3: going to say, here goes Dickens. He's going to say

985
00:48:23,800 --> 00:48:26,040
Speaker 3: we need a capital gains tax. But you'll be wrong

986
00:48:26,480 --> 00:48:29,600
Speaker 3: because I'm part of the problem. I'm sixty one, I'd

987
00:48:29,600 --> 00:48:32,120
Speaker 3: be working for forty years. I've got a portfolio of

988
00:48:32,160 --> 00:48:35,400
Speaker 3: four properties. This is the best way to ensure personal

989
00:48:35,640 --> 00:48:39,000
Speaker 3: financial growth. We've all known it. We've known it for generations.

990
00:48:39,880 --> 00:48:41,920
Speaker 3: Even though I know it's not great for the country,

991
00:48:42,040 --> 00:48:44,680
Speaker 3: it's great for me. We're all saying this. I don't

992
00:48:44,680 --> 00:48:47,240
Speaker 3: want a capital gains tax, but at least I'm honest

993
00:48:47,280 --> 00:48:50,120
Speaker 3: about it. And if anybody thinks that they can change

994
00:48:50,200 --> 00:48:53,600
Speaker 3: this fundamental structural problem that New Zealand has fallen into

995
00:48:53,960 --> 00:48:56,640
Speaker 3: over fifty years year dreaming, it would lead to a

996
00:48:56,760 --> 00:49:00,840
Speaker 3: very long winter of economic discontent and are painfully slow recovery.

997
00:49:01,520 --> 00:49:03,480
Speaker 3: The only thing we can really do is try and

998
00:49:03,520 --> 00:49:07,000
Speaker 3: make the share market work, try and make liquid investments work,

999
00:49:07,320 --> 00:49:10,120
Speaker 3: make them more attractive, make them more lucrative, because at

1000
00:49:10,120 --> 00:49:12,840
Speaker 3: the moment we stick them into asset classes and property

1001
00:49:13,080 --> 00:49:15,680
Speaker 3: and maybe you could drop corporate taxt levels or maybe

1002
00:49:15,760 --> 00:49:17,960
Speaker 3: capital gains on the share market. Maybe that makes a

1003
00:49:17,960 --> 00:49:21,319
Speaker 3: lot more sense. But if we don't watch out, we

1004
00:49:21,440 --> 00:49:24,920
Speaker 3: will end out dirt poor, with a lot of property

1005
00:49:24,920 --> 00:49:28,239
Speaker 3: that looks very nice and maybe some nice arts, but

1006
00:49:28,320 --> 00:49:33,600
Speaker 3: no jobs. All right, The Deputy Prime Minister of Australia

1007
00:49:33,680 --> 00:49:36,520
Speaker 3: is my guest in just moments, he's also the Defense Minister.

1008
00:49:36,560 --> 00:49:40,239
Speaker 3: We're talking defense, we're talking China, we're talking Orcus, we're

1009
00:49:40,239 --> 00:49:41,200
Speaker 3: talking big stuff.

1010
00:49:41,320 --> 00:49:48,360
Speaker 1: In five, the day's newsmakers talk to Andrew first, Andrew

1011
00:49:48,360 --> 00:49:51,920
Speaker 1: Dickens on hither do for clan? Drive with one New Zealand,

1012
00:49:52,080 --> 00:49:55,440
Speaker 1: let's get connected news talk and said, be you.

1013
00:49:55,640 --> 00:50:13,400
Speaker 19: Know I'm falling a pot in prial cackle.

1014
00:50:20,600 --> 00:50:24,680
Speaker 3: I know the song when you're not. Because today is

1015
00:50:24,680 --> 00:50:28,080
Speaker 3: Spotify wrapped today, where the app informs the entire world

1016
00:50:28,120 --> 00:50:29,719
Speaker 3: what on earth you've been listening to? And you can

1017
00:50:29,719 --> 00:50:32,120
Speaker 3: give all sorts of dart dives on this one and

1018
00:50:32,320 --> 00:50:34,239
Speaker 3: what we're doing at the moment is one of the

1019
00:50:34,239 --> 00:50:36,040
Speaker 3: most popular songs in New Zealand, and we're up to

1020
00:50:36,120 --> 00:50:38,840
Speaker 3: number two and it's Teddy Swims and Lose Control. This

1021
00:50:38,920 --> 00:50:41,080
Speaker 3: is the song we're listened to right now. I never

1022
00:50:41,160 --> 00:50:43,160
Speaker 3: knew that that was Teddy Swims. Didn't know the song

1023
00:50:43,239 --> 00:50:45,560
Speaker 3: was called Lose Control. Know the song. I listened to

1024
00:50:45,680 --> 00:50:48,200
Speaker 3: music stations, but the kids on music stations can't be

1025
00:50:48,200 --> 00:50:51,080
Speaker 3: bothered back announcing songs, and so you go, that was nice.

1026
00:50:51,120 --> 00:50:51,759
Speaker 2: What was it? Oh?

1027
00:50:51,800 --> 00:50:53,680
Speaker 3: I don't know, Oh, okay, and you never figured it

1028
00:50:53,719 --> 00:50:57,680
Speaker 3: out anyway. Now I know the better Stitch's Am your Dinosaur.

1029
00:50:59,520 --> 00:51:01,719
Speaker 3: I've got as well. But you're driving, mate, and you

1030
00:51:01,719 --> 00:51:04,480
Speaker 3: can't say. Now, I've got to zam on my watch anyway.

1031
00:51:04,520 --> 00:51:07,160
Speaker 3: The second most listened to song by Kiwi's on Spotify

1032
00:51:07,200 --> 00:51:09,840
Speaker 3: this year still to come. Oh excitement. I'm going to

1033
00:51:09,880 --> 00:51:13,680
Speaker 3: go through Christopher Luxen's wrapped list and I will tell

1034
00:51:13,719 --> 00:51:17,000
Speaker 3: you my number one song, which has shocked even myself.

1035
00:51:17,440 --> 00:51:22,440
Speaker 3: It is twenty two to six. Australia and New Zealand

1036
00:51:22,560 --> 00:51:26,000
Speaker 3: are set to discuss foreign policy, security and defense during

1037
00:51:26,080 --> 00:51:29,680
Speaker 3: high level talks tomorrow It comes after Defense Minister Judith

1038
00:51:29,680 --> 00:51:32,480
Speaker 3: Collins warned earlier this week that China's recent use of

1039
00:51:32,520 --> 00:51:37,240
Speaker 3: the inter continental Ballistic missile in the Pacific had changed everything.

1040
00:51:37,760 --> 00:51:41,320
Speaker 3: Australia's Deputy Prime Minister, Richard Miles and Foreign Minister Penny

1041
00:51:41,320 --> 00:51:44,680
Speaker 3: Wong will meet with Judith Collins and Winster Peters and

1042
00:51:44,719 --> 00:51:48,560
Speaker 3: the Australian Deputy Prime Minister and Minister Richard Miles himself

1043
00:51:48,640 --> 00:51:51,200
Speaker 3: joins me. Now, Hello Richard, and welcome to the program,

1044
00:51:51,239 --> 00:51:52,280
Speaker 3: and welcome to New Zealand.

1045
00:51:52,920 --> 00:51:55,040
Speaker 20: Good afternoon, Andrew. It's great to be talking with you.

1046
00:51:55,280 --> 00:51:57,640
Speaker 3: So is this week we delayed our defense plan because

1047
00:51:57,640 --> 00:52:01,279
Speaker 3: of the ICBM. How did Australia view China's use of

1048
00:52:01,320 --> 00:52:01,920
Speaker 3: that missile?

1049
00:52:03,320 --> 00:52:06,640
Speaker 20: Well, I think what it tells us is that, well, firstly,

1050
00:52:06,680 --> 00:52:10,080
Speaker 20: we are living in a world where which is much

1051
00:52:10,160 --> 00:52:14,560
Speaker 20: less predictable, where there is much greater contest, strategic contest,

1052
00:52:15,520 --> 00:52:18,560
Speaker 20: and that contest is playing out in the Pacific as well.

1053
00:52:18,880 --> 00:52:21,880
Speaker 20: It's for those of us who are living in the

1054
00:52:21,920 --> 00:52:25,720
Speaker 20: Pacific as well as our neighbors, the Pacific island countries.

1055
00:52:25,760 --> 00:52:29,320
Speaker 20: We're not immune from the strategic contest which we're seeing

1056
00:52:29,680 --> 00:52:33,560
Speaker 20: throughout the endo Pacific. And I think the tests of

1057
00:52:33,600 --> 00:52:38,000
Speaker 20: the ICBM by China is a perfect example of that,

1058
00:52:38,040 --> 00:52:41,600
Speaker 20: but it's not the only example, and it really does

1059
00:52:41,760 --> 00:52:46,520
Speaker 20: remind us that what this requires is a rethinking and

1060
00:52:46,560 --> 00:52:48,920
Speaker 20: certainly we've been going through this process. I know New

1061
00:52:49,000 --> 00:52:52,840
Speaker 20: Zealand is now going through itself about what our strategic

1062
00:52:52,920 --> 00:52:56,400
Speaker 20: challenges are and therefore what kind of a defense force

1063
00:52:56,480 --> 00:52:59,239
Speaker 20: we need to meet those challenges, and therefore what we

1064
00:52:59,280 --> 00:53:00,200
Speaker 20: need to build in the few.

1065
00:53:00,400 --> 00:53:05,280
Speaker 3: While also trading with China, who is, for both about countries,

1066
00:53:05,320 --> 00:53:07,160
Speaker 3: one of our biggest trading partners.

1067
00:53:07,800 --> 00:53:11,520
Speaker 20: And that's true, and China is Australia's largest trading partner.

1068
00:53:11,560 --> 00:53:13,760
Speaker 20: It's obviously a very large trading partner for New Zealand

1069
00:53:13,800 --> 00:53:18,000
Speaker 20: as well, and so you know, it's a complex relationship.

1070
00:53:18,320 --> 00:53:21,080
Speaker 20: It's a difficult relationship with China. I mean to be clear,

1071
00:53:21,520 --> 00:53:23,920
Speaker 20: we want the most productive relationship we can have with

1072
00:53:24,000 --> 00:53:26,920
Speaker 20: China and a key part of what we've sought to

1073
00:53:26,960 --> 00:53:29,919
Speaker 20: do since coming to power back in twenty twenty two

1074
00:53:30,040 --> 00:53:33,360
Speaker 20: is to try and stabilize our relationship with China and

1075
00:53:33,400 --> 00:53:38,080
Speaker 20: we've seen the fruits of that with much greater dialogue

1076
00:53:38,080 --> 00:53:40,960
Speaker 20: at a ministerial level. We've seen the reinstitution of the

1077
00:53:41,040 --> 00:53:43,560
Speaker 20: better part of twenty billion dollars of trade between China

1078
00:53:43,640 --> 00:53:46,359
Speaker 20: and Australia. But at the same time, you know there

1079
00:53:46,400 --> 00:53:50,319
Speaker 20: are significant security anxieties with China, and so we've just

1080
00:53:50,360 --> 00:53:53,040
Speaker 20: got to manage all of that, I mean. And so

1081
00:53:53,080 --> 00:53:56,000
Speaker 20: in that sense we talk about working with China where

1082
00:53:56,040 --> 00:54:00,399
Speaker 20: we can, disagreeing with China where we must. And that's

1083
00:54:01,800 --> 00:54:05,400
Speaker 20: the challenge that we face. Nothing here is obvious, the

1084
00:54:05,440 --> 00:54:09,120
Speaker 20: way through is complicated, but one thing is clear. This

1085
00:54:09,200 --> 00:54:11,920
Speaker 20: is a time to be doubling down with friends. So

1086
00:54:12,040 --> 00:54:15,200
Speaker 20: many of our countries in the region face the same challenges,

1087
00:54:15,239 --> 00:54:17,160
Speaker 20: but for Australia and New Zealand, you know, there are

1088
00:54:17,200 --> 00:54:19,640
Speaker 20: no two countries as close to each other as Australia.

1089
00:54:19,680 --> 00:54:21,840
Speaker 20: In New Zealand, this is the time to be doubling

1090
00:54:21,880 --> 00:54:22,840
Speaker 20: down in our relationship.

1091
00:54:22,880 --> 00:54:25,040
Speaker 3: And we need to be clear with China that we

1092
00:54:25,080 --> 00:54:26,799
Speaker 3: want peace, but we also need to be clear that

1093
00:54:26,800 --> 00:54:29,560
Speaker 3: they can't take advantage of our smaller South Pacific nations

1094
00:54:29,600 --> 00:54:32,319
Speaker 3: and therefore we have a responsibility to be able to

1095
00:54:32,360 --> 00:54:35,640
Speaker 3: protect our brothers and sisters throughout the Pacific and so on.

1096
00:54:35,719 --> 00:54:38,880
Speaker 3: That New Zealand spends one point one seven percent of

1097
00:54:39,000 --> 00:54:41,960
Speaker 3: GDP on defense. You, on the other hand, spend one

1098
00:54:42,000 --> 00:54:44,920
Speaker 3: point nine percent. There's the old rule of thumb that

1099
00:54:45,000 --> 00:54:47,799
Speaker 3: two percent is the optimum level. Would you, in an

1100
00:54:47,840 --> 00:54:50,759
Speaker 3: ideal world like to see New Zealand spending more money

1101
00:54:50,800 --> 00:54:54,439
Speaker 3: on its defense capability so that you and I we

1102
00:54:54,640 --> 00:54:56,280
Speaker 3: can actually defend our patch better.

1103
00:54:57,440 --> 00:54:59,400
Speaker 20: Well, the last thing I'm going to do is give

1104
00:54:59,440 --> 00:55:04,040
Speaker 20: advice the New Zealand government about how it allocates its budget.

1105
00:55:05,480 --> 00:55:07,359
Speaker 20: From our point of view, we're at about too now,

1106
00:55:07,400 --> 00:55:10,520
Speaker 20: and we're growing our defense budget to two point three

1107
00:55:10,520 --> 00:55:13,640
Speaker 20: to two point four over the course of the decade,

1108
00:55:13,920 --> 00:55:18,359
Speaker 20: and that does reflect a much more challenging strategic landscape

1109
00:55:18,840 --> 00:55:23,160
Speaker 20: in our view, and so we are dramatically increasing our

1110
00:55:24,000 --> 00:55:26,600
Speaker 20: military capability. I mean to put that into dollars, that's

1111
00:55:27,320 --> 00:55:30,640
Speaker 20: about an additional five billion Australian dollars in over the

1112
00:55:30,719 --> 00:55:34,120
Speaker 20: next four years, about an additional fifty billion Australian dollars

1113
00:55:34,160 --> 00:55:38,840
Speaker 20: over the next decade in terms of our defense budget.

1114
00:55:39,160 --> 00:55:44,040
Speaker 20: And those represent as significant increases in peace time in

1115
00:55:44,120 --> 00:55:46,839
Speaker 20: our defense spending really since the end of the Second

1116
00:55:46,880 --> 00:55:49,040
Speaker 20: World War. So that gives you a sense of the

1117
00:55:49,080 --> 00:55:53,120
Speaker 20: strategic landscape that we observe and that we are responding to.

1118
00:55:53,560 --> 00:55:56,240
Speaker 20: I think what we will be talking to New Zealand

1119
00:55:56,280 --> 00:56:00,840
Speaker 20: about during the course of today tomorrow is really making

1120
00:56:00,840 --> 00:56:03,400
Speaker 20: sure that whatever either of us are spending on defense,

1121
00:56:03,480 --> 00:56:06,359
Speaker 20: we need to be maximizing that spend through a much

1122
00:56:06,400 --> 00:56:09,719
Speaker 20: greater coordination between our two countries. And we've actually done

1123
00:56:10,080 --> 00:56:13,120
Speaker 20: so much in the last year or two in relation

1124
00:56:13,280 --> 00:56:16,360
Speaker 20: to that, and so the real opportunity not just in

1125
00:56:16,400 --> 00:56:18,880
Speaker 20: terms of how much we spend, but the quality of

1126
00:56:18,880 --> 00:56:22,279
Speaker 20: that spend is where we can get so much value

1127
00:56:22,680 --> 00:56:25,400
Speaker 20: through the very strong relationship that our two countries have.

1128
00:56:25,520 --> 00:56:28,160
Speaker 3: So in terms of that cooperation, August Pillar two do

1129
00:56:28,200 --> 00:56:29,200
Speaker 3: you want us to join that?

1130
00:56:30,880 --> 00:56:31,000
Speaker 11: Well?

1131
00:56:31,040 --> 00:56:36,640
Speaker 20: August Aucus is a technology sharing arrangement. Obviously, August Pilla

1132
00:56:36,680 --> 00:56:41,520
Speaker 20: one is particularly around Australia acquiring a submarine capability or

1133
00:56:41,520 --> 00:56:45,560
Speaker 20: a particular submarine capability. But Pillar two is about looking

1134
00:56:45,600 --> 00:56:50,880
Speaker 20: at new innovative technologies in the defense space. We are

1135
00:56:50,920 --> 00:56:54,960
Speaker 20: consulting with a number of countries, including New Zealand, exploring

1136
00:56:55,000 --> 00:56:59,120
Speaker 20: opportunities where on a project by project basis there might

1137
00:56:59,200 --> 00:57:04,520
Speaker 20: be an ability for us to work together. None of

1138
00:57:04,520 --> 00:57:08,319
Speaker 20: this is going to happen tomorrow, it's it's but over

1139
00:57:08,360 --> 00:57:12,880
Speaker 20: the longer term. Clearly New Zealand has capability, and clearly

1140
00:57:12,920 --> 00:57:15,439
Speaker 20: New Zealand is a country with whom we have great

1141
00:57:15,440 --> 00:57:16,280
Speaker 20: strategic trust.

1142
00:57:16,400 --> 00:57:19,920
Speaker 3: But do we need Aucust Pillar two to be able

1143
00:57:19,960 --> 00:57:23,360
Speaker 3: to work together with you? In other words, is our

1144
00:57:23,400 --> 00:57:29,600
Speaker 3: current information and technology sharing arrangements not up to par No, I.

1145
00:57:29,560 --> 00:57:31,320
Speaker 20: Wouldn't put it in those terms at all. I mean,

1146
00:57:32,080 --> 00:57:35,880
Speaker 20: there's nothing about Aucust Pillar two which becomes conditional in

1147
00:57:35,920 --> 00:57:38,080
Speaker 20: the context of our relationship. We want to be as

1148
00:57:38,120 --> 00:57:41,240
Speaker 20: close to New Zealand as we can possibly be, whatever

1149
00:57:41,280 --> 00:57:44,480
Speaker 20: happens in terms of working on particular projects in relation

1150
00:57:44,680 --> 00:57:47,800
Speaker 20: to August Pillar two. And in fact, if you look

1151
00:57:47,840 --> 00:57:50,040
Speaker 20: at what we've been doing, you know, over the course

1152
00:57:50,080 --> 00:57:54,200
Speaker 20: of the last twelve months, we've seen dramatic increases in

1153
00:57:54,240 --> 00:57:57,120
Speaker 20: the way in which our two countries have cooperated around

1154
00:57:58,000 --> 00:58:01,840
Speaker 20: you know, military planning, for example, looking at how we

1155
00:58:01,880 --> 00:58:04,920
Speaker 20: can better kind of get bang for our buck in

1156
00:58:05,040 --> 00:58:09,200
Speaker 20: terms of our procurement spend. We're looking at every opportunity

1157
00:58:09,360 --> 00:58:12,960
Speaker 20: to create a more ANZAC feel, if you like, in

1158
00:58:13,040 --> 00:58:16,240
Speaker 20: terms of the way in which how to defense forces operate.

1159
00:58:16,360 --> 00:58:19,520
Speaker 20: And that, as I say, goes back to maximizing what

1160
00:58:19,560 --> 00:58:22,120
Speaker 20: both of our countries are spending on defense, the quality

1161
00:58:22,160 --> 00:58:25,720
Speaker 20: of that spend, and reflecting the fact that our two

1162
00:58:25,720 --> 00:58:30,320
Speaker 20: countries have complete trust like it's our closest relationship, it

1163
00:58:30,360 --> 00:58:33,040
Speaker 20: is for New Zealand as well, it makes sense for

1164
00:58:33,120 --> 00:58:34,920
Speaker 20: us to be working as closely together as we can be.

1165
00:58:35,080 --> 00:58:38,160
Speaker 3: Well, let's talk about relationships, because obviously the Australian Labor

1166
00:58:38,200 --> 00:58:41,040
Speaker 3: Party is clearly convinced that UCUS is a good idea.

1167
00:58:41,200 --> 00:58:44,800
Speaker 3: And yet the New Zealand Labor Party voted last weekend

1168
00:58:44,800 --> 00:58:47,160
Speaker 3: that it would not join August. They went further than that,

1169
00:58:47,240 --> 00:58:50,040
Speaker 3: they said they would exit Aucust if New Zealand were

1170
00:58:50,080 --> 00:58:53,840
Speaker 3: to join and they ever become the government. Again, should

1171
00:58:53,840 --> 00:58:56,280
Speaker 3: you be talking to your brothers across the Tasman about

1172
00:58:56,360 --> 00:58:57,680
Speaker 3: a bipartisan agreement.

1173
00:58:58,920 --> 00:59:02,240
Speaker 20: Well, obviously what the New Zealand Labor Party says and

1174
00:59:02,280 --> 00:59:06,640
Speaker 20: does is a matter for it from our point of view.

1175
00:59:07,520 --> 00:59:12,040
Speaker 20: In terms of the pillar one, which is around Australia

1176
00:59:12,040 --> 00:59:18,200
Speaker 20: acquiring a particular submarine capability that is clearly specific to Australia,

1177
00:59:18,360 --> 00:59:21,720
Speaker 20: the idea of Australia and New Zealand working together in

1178
00:59:21,840 --> 00:59:26,240
Speaker 20: terms of new technologies is not a particularly new idea.

1179
00:59:27,400 --> 00:59:30,880
Speaker 20: It really is just exploring what opportunities there might be

1180
00:59:30,960 --> 00:59:34,160
Speaker 20: on a project by project basis going forward. As I say,

1181
00:59:34,200 --> 00:59:37,600
Speaker 20: none of this is happening tomorrow. We're very much in

1182
00:59:37,600 --> 00:59:41,200
Speaker 20: an exploratory phase. We're not just talking to New Zealand,

1183
00:59:41,280 --> 00:59:45,640
Speaker 20: but we're also talking with Canada, Japan, Korea. And you

1184
00:59:45,680 --> 00:59:48,920
Speaker 20: can see what we're looking at is countries that have

1185
00:59:49,560 --> 00:59:54,280
Speaker 20: capability that they had technological expertise, but countries with whom

1186
00:59:54,440 --> 00:59:56,440
Speaker 20: our selves in the United States and the United Kingdom

1187
00:59:56,480 --> 01:00:00,520
Speaker 20: shared deep strategic trust. And it's really no, no more

1188
01:00:00,560 --> 01:00:01,400
Speaker 20: complicated than that.

1189
01:00:01,640 --> 01:00:05,320
Speaker 3: Richard, I trust you have a very fruitful meeting tomorrow.

1190
01:00:05,360 --> 01:00:07,240
Speaker 3: Thank you so much for coming over and thank you

1191
01:00:07,280 --> 01:00:10,280
Speaker 3: for your time today. That is Richard Miles, Australian Deputy

1192
01:00:10,280 --> 01:00:14,480
Speaker 3: Prime Minister and Defense Minister. And of course the summit happens,

1193
01:00:14,560 --> 01:00:17,360
Speaker 3: the high level talks happens tomorrow. It is thirteen to six.

1194
01:00:17,600 --> 01:00:20,320
Speaker 3: The huddle is next with Nick Leggett and Tim Wilson

1195
01:00:21,640 --> 01:00:24,840
Speaker 3: take through. While that Australian was so impressive, so unpolitical,

1196
01:00:24,920 --> 01:00:29,120
Speaker 3: yes he was so extraordinarily diplomatic, yes he was. But

1197
01:00:29,240 --> 01:00:31,080
Speaker 3: what we did get out of there is that August

1198
01:00:31,200 --> 01:00:34,160
Speaker 3: two is a whole series of projects on all sorts

1199
01:00:34,200 --> 01:00:36,440
Speaker 3: of levels of technology and everything, which is more than

1200
01:00:36,440 --> 01:00:39,080
Speaker 3: we've had before. So I think Richard is now eleven

1201
01:00:39,080 --> 01:00:39,680
Speaker 3: to six.

1202
01:00:39,720 --> 01:00:43,680
Speaker 1: The Huddle with New Zealand Southerby's International Realty, local and

1203
01:00:43,720 --> 01:00:45,680
Speaker 1: global exposure like no other.

1204
01:00:45,880 --> 01:00:48,480
Speaker 3: Nick Leggett from Infrastructure New Zealand and Tim Wilson from

1205
01:00:48,480 --> 01:00:52,240
Speaker 3: the Maximine Institute, Welcome to the program, gentlemen, good evening,

1206
01:00:52,800 --> 01:00:55,920
Speaker 3: Hello Nick Leggett, the bank of Mum and Dad. Are

1207
01:00:55,960 --> 01:00:57,920
Speaker 3: you one or did you use one?

1208
01:00:59,040 --> 01:00:59,400
Speaker 2: Well?

1209
01:01:00,160 --> 01:01:01,960
Speaker 21: Probably a bit like Tim, my kids are a bit

1210
01:01:02,040 --> 01:01:07,320
Speaker 21: young at this point, but yeah, like I actually I

1211
01:01:07,400 --> 01:01:10,680
Speaker 21: bought a house with my parents jointly when I was

1212
01:01:10,720 --> 01:01:13,080
Speaker 21: in my late twenties, and it was it had a

1213
01:01:13,120 --> 01:01:15,919
Speaker 21: tenant in it for three or four years, and then

1214
01:01:16,080 --> 01:01:18,280
Speaker 21: I brought them out and I moved into it. So

1215
01:01:18,400 --> 01:01:21,400
Speaker 21: that if that's you know, I didn't borrow any money

1216
01:01:21,400 --> 01:01:25,080
Speaker 21: from them, but we bought something jointly and that helped

1217
01:01:25,120 --> 01:01:27,160
Speaker 21: me get into the housing market. And yes, I would

1218
01:01:27,160 --> 01:01:30,680
Speaker 21: do it for my children because I'm a view I'm

1219
01:01:30,680 --> 01:01:34,960
Speaker 21: of the view that a property owning democracy is what

1220
01:01:35,080 --> 01:01:37,880
Speaker 21: New Zealand should continue to aim for. We should also

1221
01:01:37,960 --> 01:01:41,560
Speaker 21: develop other types of houses, of course, because not everybody, Yeah,

1222
01:01:42,080 --> 01:01:43,160
Speaker 21: everybody cann in a house.

1223
01:01:43,520 --> 01:01:45,560
Speaker 6: Those who choose to should be able to.

1224
01:01:45,640 --> 01:01:47,200
Speaker 3: But when the bank of Mom and Dad ended up

1225
01:01:47,200 --> 01:01:50,280
Speaker 3: taking over sixty five percent of all the property transactions,

1226
01:01:50,280 --> 01:01:54,160
Speaker 3: you know, it's a very unbalanced economy, don't you think totally?

1227
01:01:54,240 --> 01:01:54,760
Speaker 2: That's right?

1228
01:01:54,840 --> 01:01:57,480
Speaker 21: And the question is how do we get how do

1229
01:01:57,560 --> 01:02:01,080
Speaker 21: we get to a balance point where we you know,

1230
01:02:01,160 --> 01:02:05,080
Speaker 21: people can can get into the housing market themselves, that

1231
01:02:05,080 --> 01:02:08,120
Speaker 21: their incomes, can you know, in some way give them

1232
01:02:08,120 --> 01:02:11,640
Speaker 21: an ability to service a mortgage without resorting to to

1233
01:02:11,680 --> 01:02:12,680
Speaker 21: the bank of mom and Dad.

1234
01:02:13,320 --> 01:02:16,160
Speaker 22: It's an affordability It's an affordability issue, isn't it. I

1235
01:02:16,240 --> 01:02:18,000
Speaker 22: mean that's that that's check key here. We actually at

1236
01:02:18,040 --> 01:02:21,640
Speaker 22: maxim we've just produced a research paper on this. Free

1237
01:02:21,800 --> 01:02:23,600
Speaker 22: we need to free up the land that we have

1238
01:02:23,840 --> 01:02:26,840
Speaker 22: to actually and lower the expensive building. And one thing

1239
01:02:26,840 --> 01:02:29,320
Speaker 22: that happens in Houston is they let streets determine their

1240
01:02:29,320 --> 01:02:32,160
Speaker 22: own zoning, so you just take a vote's like what

1241
01:02:32,240 --> 01:02:35,960
Speaker 22: the density like, and there's much there's much more flexibility

1242
01:02:36,280 --> 01:02:38,840
Speaker 22: within the unitary plan. We don't have that. We've got

1243
01:02:38,880 --> 01:02:41,840
Speaker 22: to blow away some of this some of this administrative

1244
01:02:42,120 --> 01:02:44,760
Speaker 22: hurdles that contribute to the high cost of housing.

1245
01:02:44,800 --> 01:02:46,560
Speaker 3: Well, that's what mister Seymore is doing. Is is that

1246
01:02:46,640 --> 01:02:50,040
Speaker 3: is that what his new Bureau of Regulatory Reform is

1247
01:02:50,080 --> 01:02:51,720
Speaker 3: going to be or whatever he's calling in the ministry.

1248
01:02:52,800 --> 01:02:55,080
Speaker 22: I'm not aware, but I'd be more than happy to

1249
01:02:55,120 --> 01:02:56,280
Speaker 22: remit the paper to him.

1250
01:02:56,680 --> 01:03:00,680
Speaker 21: Yeah, this should I mean this, this what we're talking

1251
01:03:00,680 --> 01:03:02,760
Speaker 21: about here is more go to be covered in the

1252
01:03:02,800 --> 01:03:06,240
Speaker 21: reforms to the Resource Management Act. So this is about,

1253
01:03:06,800 --> 01:03:10,680
Speaker 21: you know, the sort of central control of district plans

1254
01:03:10,720 --> 01:03:14,800
Speaker 21: for councils. We do require regional deals that the government

1255
01:03:15,240 --> 01:03:17,200
Speaker 21: is talking about are going to be really important here

1256
01:03:17,240 --> 01:03:21,720
Speaker 21: because they could partnerships between local and central government really

1257
01:03:21,840 --> 01:03:25,880
Speaker 21: unlock these big areas of land funder the infrastructure, both

1258
01:03:25,960 --> 01:03:28,720
Speaker 21: under the ground and above the ground, have good links,

1259
01:03:28,800 --> 01:03:33,320
Speaker 21: transport links, and critically move them quickly so you don't

1260
01:03:33,360 --> 01:03:38,160
Speaker 21: have these massive upticks in value that effectively shut people out.

1261
01:03:38,680 --> 01:03:41,160
Speaker 22: And also, if it all works, I won't have to

1262
01:03:41,160 --> 01:03:43,640
Speaker 22: buy the kids any houses. Four boys, four houses.

1263
01:03:43,680 --> 01:03:44,440
Speaker 2: Forget about it.

1264
01:03:44,480 --> 01:03:45,360
Speaker 5: They're not getting it.

1265
01:03:46,040 --> 01:03:48,760
Speaker 3: Yes in Auckland, for goodness, say of course, yeah, and

1266
01:03:48,800 --> 01:03:50,640
Speaker 3: Tim should have thought about that earlier. If any think

1267
01:03:50,640 --> 01:03:52,680
Speaker 3: we might have actually told you that earlier, Tim, are

1268
01:03:52,680 --> 01:03:54,840
Speaker 3: you sure you're happy with all this? That's a lot

1269
01:03:54,840 --> 01:03:57,800
Speaker 3: of kids. That's a lot of nonsense, nonsense.

1270
01:03:57,840 --> 01:03:59,959
Speaker 22: It's not even a large Protestant family much less.

1271
01:04:00,040 --> 01:04:03,120
Speaker 3: That's one good stuff. Have you guys done your wrap?

1272
01:04:03,320 --> 01:04:05,480
Speaker 3: Your Spotify rapped? If so, we'll find out after the

1273
01:04:05,520 --> 01:04:07,240
Speaker 3: break red or.

1274
01:04:07,240 --> 01:04:10,680
Speaker 1: Blue, Trump or Harris who will win the battleground states?

1275
01:04:10,800 --> 01:04:14,040
Speaker 1: The latest on the US election. It's Heather Duplicy Allan

1276
01:04:14,160 --> 01:04:17,520
Speaker 1: drive with one New Zealand let's get connected youth talks.

1277
01:04:17,520 --> 01:04:21,200
Speaker 2: It'd be the Huddle with.

1278
01:04:21,280 --> 01:04:25,200
Speaker 1: New Zealand Southeby's International Realty elevate the marketing of your home.

1279
01:04:26,160 --> 01:04:28,400
Speaker 3: All right, Nick Leggett and Tim Wilson, have you got

1280
01:04:28,440 --> 01:04:33,600
Speaker 3: your Spotify rap lists? Yes, gentlemen, Yes, yes, yes, good good.

1281
01:04:33,600 --> 01:04:34,560
Speaker 3: Who's that? That's Nick?

1282
01:04:35,040 --> 01:04:35,360
Speaker 2: Tim?

1283
01:04:35,480 --> 01:04:37,600
Speaker 3: You've got a musician in the family. What's yours?

1284
01:04:38,680 --> 01:04:39,760
Speaker 2: Yeah?

1285
01:04:39,800 --> 01:04:42,000
Speaker 22: Well, actually I did have a musician in the family.

1286
01:04:42,280 --> 01:04:45,600
Speaker 22: What might go to has been David allen Co's you

1287
01:04:45,600 --> 01:04:48,680
Speaker 22: don't have to call me Darlin Darlin, which is the

1288
01:04:48,880 --> 01:04:52,040
Speaker 22: probably the quintessential country and Western song because it's got

1289
01:04:52,040 --> 01:04:55,479
Speaker 22: a verse that'scut that goes I was drunk the day

1290
01:04:55,560 --> 01:04:57,520
Speaker 22: my mom got out of Prison.

1291
01:05:00,440 --> 01:05:02,280
Speaker 3: That's a beautif a film. There's a bit of us song.

1292
01:05:02,600 --> 01:05:05,720
Speaker 3: But because your partner does sort of a lot more transcendentdent,

1293
01:05:06,320 --> 01:05:10,280
Speaker 3: semi slow slow tun dance stuff, doesn't she triplep?

1294
01:05:11,440 --> 01:05:14,640
Speaker 22: Well no, no, Rachel, Rachel actually does some some wonderful,

1295
01:05:14,640 --> 01:05:17,440
Speaker 22: wonderful songs are Rachel Wilson. Yeah, in my name, look

1296
01:05:17,480 --> 01:05:18,360
Speaker 22: it up on Spotify.

1297
01:05:18,600 --> 01:05:22,080
Speaker 3: Ha, there we go. And Nick, do I believe that

1298
01:05:22,120 --> 01:05:23,480
Speaker 3: you don't have a Spotify rapped?

1299
01:05:24,600 --> 01:05:25,560
Speaker 11: That's exactly right.

1300
01:05:25,640 --> 01:05:26,000
Speaker 9: I don't.

1301
01:05:26,120 --> 01:05:26,800
Speaker 6: My wife does.

1302
01:05:27,160 --> 01:05:28,320
Speaker 3: I listened to use it.

1303
01:05:29,480 --> 01:05:31,440
Speaker 21: It's because I don't want people knowing what I listened to.

1304
01:05:31,520 --> 01:05:33,480
Speaker 21: But I did nominate a song that if I did

1305
01:05:33,480 --> 01:05:35,160
Speaker 21: have one, it would have print up at the top

1306
01:05:35,200 --> 01:05:37,520
Speaker 21: because we have a three year old who loved it.

1307
01:05:38,240 --> 01:05:43,280
Speaker 3: Oh okay, and there it is. Look at that magic. Gentlemen,

1308
01:05:43,280 --> 01:05:45,480
Speaker 3: thank you so much for your time today. All the best.

1309
01:05:47,760 --> 01:05:55,280
Speaker 3: Make Leggan's favorite song three minutes to six. It stood

1310
01:05:55,280 --> 01:05:59,760
Speaker 3: to come from Terror is a ten dollars farm gate farmers.

1311
01:06:00,080 --> 01:06:03,400
Speaker 3: That's right, because the global darry trade auction has been bred.

1312
01:06:03,560 --> 01:06:07,640
Speaker 3: Why we'll talk to Andrew Murray, who's the CFO from Fonterra.

1313
01:06:08,240 --> 01:06:10,240
Speaker 3: I'll tell you what my number one song is, and

1314
01:06:10,320 --> 01:06:14,120
Speaker 3: we'll go through Chris Luxon's Spotify as well and find

1315
01:06:14,160 --> 01:06:17,160
Speaker 3: out what deep, dark psychological secrets look inside there.

1316
01:06:17,720 --> 01:06:49,720
Speaker 23: News's next, what's down?

1317
01:06:50,000 --> 01:06:52,640
Speaker 2: What will the major calls? And how will it affect

1318
01:06:52,640 --> 01:06:53,720
Speaker 2: the economy.

1319
01:06:53,360 --> 01:06:56,760
Speaker 1: Of the big business questions on the Business Hour with

1320
01:06:57,000 --> 01:06:59,800
Speaker 1: Andrew Dickens and my hr on.

1321
01:07:01,520 --> 01:07:04,120
Speaker 3: That's welcome program. You can text me on ninety two

1322
01:07:04,200 --> 01:07:06,360
Speaker 3: ninety two. My name is Andrew Dickins. Hither do per see?

1323
01:07:06,400 --> 01:07:09,160
Speaker 3: Allan will be back in the hot seat tomorrow and

1324
01:07:09,280 --> 01:07:10,840
Speaker 3: I won't. I'll be doing a breakfast show on a

1325
01:07:10,920 --> 01:07:13,200
Speaker 3: radio station called Gold. It's on one oh five point

1326
01:07:13,280 --> 01:07:15,800
Speaker 3: four I FM and Orkham. Please listen all right, it

1327
01:07:15,840 --> 01:07:18,280
Speaker 3: is now seven minutes after Sex. This is the Business Hour.

1328
01:07:18,280 --> 01:07:20,560
Speaker 3: We will be talking the Auckland Airport shares. The issue

1329
01:07:20,640 --> 01:07:22,840
Speaker 3: yesterday one point three billion that went to the Auckland

1330
01:07:22,880 --> 01:07:26,480
Speaker 3: Council and despite the high volume of shares that sold,

1331
01:07:27,280 --> 01:07:29,160
Speaker 3: the Indiex had its biggest fall of the year. So

1332
01:07:29,240 --> 01:07:32,040
Speaker 3: Liam Dan will talk about this shortly. But first, the

1333
01:07:32,200 --> 01:07:36,320
Speaker 3: dairy farmers are happy. The milk price has cracked double digits.

1334
01:07:36,680 --> 01:07:40,600
Speaker 3: Fonterra has raised its forecast farm gate milk price by

1335
01:07:40,760 --> 01:07:43,680
Speaker 3: fifty cents to a mid point of ten dollars, and

1336
01:07:43,720 --> 01:07:45,760
Speaker 3: that is the second rise in less than a month,

1337
01:07:46,160 --> 01:07:48,640
Speaker 3: and the company says it's due to strong demand from

1338
01:07:48,720 --> 01:07:54,160
Speaker 3: China and Southeast Asia. Andrew Murray is Fonterra's chief financial officer.

1339
01:07:54,200 --> 01:07:56,480
Speaker 3: He knows the money, he knows the figures, and he

1340
01:07:56,560 --> 01:08:00,400
Speaker 3: joins right now, Hello Andrew, good evening, How are you good?

1341
01:08:00,720 --> 01:08:02,800
Speaker 3: I would say the farmers are very good too, aren't they.

1342
01:08:03,880 --> 01:08:06,160
Speaker 8: Yeah, yeah, that's certainly. The feedback that we've had early

1343
01:08:06,200 --> 01:08:08,960
Speaker 8: on is ye's very positive from the farmer beef.

1344
01:08:09,320 --> 01:08:11,320
Speaker 3: The Campidy says is due to strong demand from China

1345
01:08:11,400 --> 01:08:14,360
Speaker 3: and Southeast Asia. Now, please come on. About eighteen months ago,

1346
01:08:14,440 --> 01:08:17,759
Speaker 3: the fact the GDT, the global dairy trade auction figures

1347
01:08:17,760 --> 01:08:20,439
Speaker 3: were going down and people were saying the Chinese economy

1348
01:08:20,439 --> 01:08:22,640
Speaker 3: appears to be tanking. This is looking bad and there

1349
01:08:22,640 --> 01:08:25,280
Speaker 3: were lots of warnings for farmers. So can you please

1350
01:08:25,360 --> 01:08:28,599
Speaker 3: explain to me how come China, who have still not recovered,

1351
01:08:29,040 --> 01:08:30,360
Speaker 3: are actually driving this grace?

1352
01:08:31,840 --> 01:08:33,840
Speaker 8: Yeah, I think that the core behind it, actually, I

1353
01:08:33,880 --> 01:08:37,680
Speaker 8: would see is the is the domestic production. And so

1354
01:08:37,840 --> 01:08:39,879
Speaker 8: last year there was quite a lot of domestic production

1355
01:08:39,960 --> 01:08:42,559
Speaker 8: in China that got turned into milk Podo and so

1356
01:08:42,600 --> 01:08:45,760
Speaker 8: there was a lot of inventory around that has been exhausted.

1357
01:08:46,160 --> 01:08:49,479
Speaker 8: They've rebalanced the heads domestically within China and so we're

1358
01:08:49,479 --> 01:08:52,760
Speaker 8: seeing that demand come back pretty strong. And then the

1359
01:08:52,840 --> 01:08:55,200
Speaker 8: other side, of course, is just that you know, US

1360
01:08:55,280 --> 01:08:59,559
Speaker 8: production is very flat, European production is done, so the

1361
01:08:59,600 --> 01:09:02,200
Speaker 8: demand and imports is pretty good from our perspective, and

1362
01:09:02,240 --> 01:09:04,040
Speaker 8: we've had a strong start to the season as well.

1363
01:09:04,280 --> 01:09:06,519
Speaker 3: Well, there is good news. What about Southeast Asia? What

1364
01:09:06,520 --> 01:09:07,280
Speaker 3: what would win?

1365
01:09:07,360 --> 01:09:11,719
Speaker 8: So well there, Oh, it's actually pretty across the board,

1366
01:09:11,720 --> 01:09:14,280
Speaker 8: to be honest, there's nothing specific. It's it's in line

1367
01:09:14,320 --> 01:09:16,880
Speaker 8: with how it's been for at least the past twelve

1368
01:09:16,880 --> 01:09:19,439
Speaker 8: to eighteen months. So it continues to be a strong

1369
01:09:19,479 --> 01:09:21,519
Speaker 8: market for US. You see that, you know, if you

1370
01:09:21,600 --> 01:09:23,720
Speaker 8: if you look a little bit into GDT and you'll

1371
01:09:23,720 --> 01:09:26,840
Speaker 8: see China's definitely stronger in the last in the last

1372
01:09:26,880 --> 01:09:29,320
Speaker 8: few auctions. So as we get as we really push

1373
01:09:29,400 --> 01:09:33,280
Speaker 8: up that, you know in the milk price, FEA does

1374
01:09:33,320 --> 01:09:35,559
Speaker 8: tend to bond off a little bit. They don't tend

1375
01:09:35,560 --> 01:09:38,240
Speaker 8: to play quite as much in terms of high prices

1376
01:09:37,960 --> 01:09:40,360
Speaker 8: as the China bios do and we're seeing that play

1377
01:09:40,360 --> 01:09:40,920
Speaker 8: out a little bit.

1378
01:09:41,000 --> 01:09:43,760
Speaker 3: Lare Okay, it's not all good news. Better? What's wrong

1379
01:09:43,760 --> 01:09:46,240
Speaker 3: with Better? There's some five point two percent. And the

1380
01:09:46,240 --> 01:09:48,439
Speaker 3: other one is Mozzarella, which has been going down at

1381
01:09:48,479 --> 01:09:50,880
Speaker 3: big time. It's on four point five to one auction

1382
01:09:50,960 --> 01:09:54,040
Speaker 3: and six point six last night. What's that happening there?

1383
01:09:54,880 --> 01:09:57,320
Speaker 8: Yeah, Look, we've we've to be honest, we've been waiting

1384
01:09:57,360 --> 01:09:59,680
Speaker 8: for a little bit of that reversion to happen. So

1385
01:10:00,000 --> 01:10:02,160
Speaker 8: you know that that's the stream returns turning back a

1386
01:10:02,160 --> 01:10:04,360
Speaker 8: little bit normal. So certainly when you look at that

1387
01:10:04,400 --> 01:10:08,559
Speaker 8: again compared to what's happening in Europe and US, we've

1388
01:10:08,560 --> 01:10:10,599
Speaker 8: been expecting them to come off a little bit. So yeah,

1389
01:10:10,640 --> 01:10:12,680
Speaker 8: that that's something that we've been waiting on, probably for

1390
01:10:12,680 --> 01:10:13,120
Speaker 8: a few months.

1391
01:10:13,160 --> 01:10:13,360
Speaker 18: Done.

1392
01:10:13,360 --> 01:10:15,880
Speaker 3: Well, you're getting rid of you know, your value added brands,

1393
01:10:15,880 --> 01:10:18,040
Speaker 3: you know, the mainland and the anchor and stuff like that.

1394
01:10:18,360 --> 01:10:20,000
Speaker 3: Would there ever be a day where you just said

1395
01:10:20,000 --> 01:10:21,880
Speaker 3: to Mozzarella, I'm sorry, your day is done?

1396
01:10:23,880 --> 01:10:26,120
Speaker 8: Oh yeah, I don't know if we're in that space.

1397
01:10:26,680 --> 01:10:29,400
Speaker 3: Okay, that's well, that's good news. And here's the other

1398
01:10:29,439 --> 01:10:32,599
Speaker 3: thing that I find interesting. You are going to raise

1399
01:10:32,600 --> 01:10:34,400
Speaker 3: the farm gate price. But your profit for the first

1400
01:10:34,479 --> 01:10:37,400
Speaker 3: quarter is actually down like thirty percent. So that's two

1401
01:10:37,520 --> 01:10:39,960
Speaker 3: hundred and sixty three down from three hundred and forty

1402
01:10:40,000 --> 01:10:43,160
Speaker 3: six millions. So how come you're paying your you know,

1403
01:10:43,200 --> 01:10:45,200
Speaker 3: your shareholders more and yet your profit's gone down.

1404
01:10:46,400 --> 01:10:48,479
Speaker 8: Yeah. Look, I think the key in this one is,

1405
01:10:48,640 --> 01:10:50,840
Speaker 8: you know, our profit was still really strong for the quarter.

1406
01:10:51,040 --> 01:10:54,280
Speaker 8: If you're compared to that quarter last year, we probably

1407
01:10:54,280 --> 01:10:56,479
Speaker 8: had a milk price that was you know, over two

1408
01:10:56,520 --> 01:10:59,040
Speaker 8: dollars less than it is now and so obviously you

1409
01:10:59,040 --> 01:11:00,920
Speaker 8: know that you'll see that come through in the actual

1410
01:11:00,960 --> 01:11:04,280
Speaker 8: profit result. But still a very strong quarter for us,

1411
01:11:04,400 --> 01:11:06,800
Speaker 8: and you see actually from a margin perspective, better than

1412
01:11:06,880 --> 01:11:09,599
Speaker 8: than Q four last year. So we actually feel really

1413
01:11:09,600 --> 01:11:11,960
Speaker 8: good about the quarter numbers that they're in a good space.

1414
01:11:13,200 --> 01:11:15,280
Speaker 8: But you know, the key is that we've got a

1415
01:11:15,400 --> 01:11:17,320
Speaker 8: very strong balance sheep with what hard over the last

1416
01:11:17,320 --> 01:11:19,280
Speaker 8: few years to get ourselves into a really good shape.

1417
01:11:20,040 --> 01:11:21,920
Speaker 8: You know, if I look at these changes, you know,

1418
01:11:21,960 --> 01:11:24,160
Speaker 8: the milk price going up, et cetera. I mean that's

1419
01:11:24,320 --> 01:11:26,720
Speaker 8: that's you know, a good few hundred million that's going

1420
01:11:26,720 --> 01:11:30,000
Speaker 8: into the farmer's pockets in January above what we expected.

1421
01:11:30,040 --> 01:11:32,320
Speaker 8: But the strength of the balance sheet is really alone

1422
01:11:32,439 --> 01:11:32,920
Speaker 8: is to do that.

1423
01:11:33,040 --> 01:11:35,880
Speaker 3: True, and you also have costs as you change your

1424
01:11:35,880 --> 01:11:38,080
Speaker 3: business model, so that might affect things in the in

1425
01:11:38,120 --> 01:11:39,760
Speaker 3: the short to medium.

1426
01:11:40,040 --> 01:11:42,560
Speaker 8: Oh yeah, look, we've got that well planned. And you

1427
01:11:42,600 --> 01:11:44,599
Speaker 8: know we've rear from our guidance for the year in

1428
01:11:44,640 --> 01:11:48,920
Speaker 8: that forty to sixty sense pushyeer range. That's that's largely

1429
01:11:48,920 --> 01:11:51,760
Speaker 8: in language last year. So yeah, we're feeling okay in

1430
01:11:51,840 --> 01:11:53,240
Speaker 8: terms of how we're playing out for the rest of

1431
01:11:53,280 --> 01:11:53,559
Speaker 8: the year.

1432
01:11:54,080 --> 01:11:56,120
Speaker 3: All we have to say now is congratulations, are a

1433
01:11:56,120 --> 01:11:57,800
Speaker 3: good result and none may they continue?

1434
01:11:58,520 --> 01:12:00,000
Speaker 8: Yes, indeed, so thank you.

1435
01:12:00,240 --> 01:12:04,759
Speaker 3: That is Andrew Murray. He is Fonterra's chief financial officer. Yes,

1436
01:12:04,800 --> 01:12:08,080
Speaker 3: he is from Glasgow. Have you noticed how many immigrants

1437
01:12:08,080 --> 01:12:10,160
Speaker 3: that we have in very major jobs around the place

1438
01:12:10,200 --> 01:12:13,360
Speaker 3: because they come here, they've got the skills, they've chosen us.

1439
01:12:13,640 --> 01:12:16,840
Speaker 3: He's working there. I'll tell you another that's just been

1440
01:12:16,880 --> 01:12:19,640
Speaker 3: announced today. Wellington councilors have selected the boss of an

1441
01:12:19,680 --> 01:12:22,879
Speaker 3: English council to be the new chief executive for Wellington.

1442
01:12:23,280 --> 01:12:26,080
Speaker 3: His name is Matt Prosser. He's Chief executive of the

1443
01:12:26,160 --> 01:12:30,679
Speaker 3: Dorset Council. And will replace Barbara Macero who steps down

1444
01:12:30,680 --> 01:12:32,679
Speaker 3: in March. And hopefully he knows all about water leaks

1445
01:12:32,680 --> 01:12:34,400
Speaker 3: because he's got to deal with an awful lot of them.

1446
01:12:34,760 --> 01:12:38,880
Speaker 3: Congratulations Matt Prosser for leaving your home and choosing to

1447
01:12:38,880 --> 01:12:41,559
Speaker 3: make us your home and trying to make us better.

1448
01:12:41,960 --> 01:12:44,040
Speaker 3: It is a thirteen after six big day in the

1449
01:12:44,040 --> 01:12:47,200
Speaker 3: share market yesterday, particularly for Auckland Council. They've sold their

1450
01:12:47,240 --> 01:12:51,160
Speaker 3: shares in the International Airport that now becomes a future

1451
01:12:51,200 --> 01:12:53,479
Speaker 3: fund worth one point three billion dollars. But wouldn't you

1452
01:12:53,479 --> 01:12:56,080
Speaker 3: know it, despite such a big day on the share market,

1453
01:12:56,439 --> 01:12:59,120
Speaker 3: it was our worst day of the year, the indexes

1454
01:12:59,160 --> 01:13:01,479
Speaker 3: worst out of the yes why Liam Dan is here.

1455
01:13:01,560 --> 01:13:05,479
Speaker 1: Next analysis from the experts, bringing you everything you need

1456
01:13:05,520 --> 01:13:08,280
Speaker 1: to know on the US election. It's The Business Hour

1457
01:13:08,400 --> 01:13:11,839
Speaker 1: with Heather Duplicy, Allen and my Hr. The HR Solution

1458
01:13:12,000 --> 01:13:17,040
Speaker 1: for busy SMEs, used talks it be. If it's to

1459
01:13:17,080 --> 01:13:21,000
Speaker 1: do with money, it matters to you. The Business Hour

1460
01:13:21,240 --> 01:13:24,840
Speaker 1: with Andrew Dickens and my Hr The HR Solution for

1461
01:13:24,920 --> 01:13:27,400
Speaker 1: Busy SMS on US Talk ZB.

1462
01:13:28,000 --> 01:13:31,160
Speaker 3: So I'd like to welcome into the studio Liam Dan Andrew. There,

1463
01:13:31,160 --> 01:13:33,200
Speaker 3: we are new Zealand held Business Editor at Large. And

1464
01:13:33,240 --> 01:13:35,920
Speaker 3: so the big news yesterday was that Auckland Council sold

1465
01:13:35,920 --> 01:13:39,360
Speaker 3: it's staken in the airport for about one point three

1466
01:13:39,600 --> 01:13:41,600
Speaker 3: million dollars. I'm quite happy with that because that was

1467
01:13:41,600 --> 01:13:44,320
Speaker 3: twenty cents over an estimate. But there we go. Now

1468
01:13:44,320 --> 01:13:46,479
Speaker 3: the money is going to be used for the augand

1469
01:13:46,479 --> 01:13:49,439
Speaker 3: Future fund. So let's talk Liam about this money and

1470
01:13:49,520 --> 01:13:51,799
Speaker 3: let's talk about how it's now going to be used.

1471
01:13:51,840 --> 01:13:54,960
Speaker 3: Because the councilor's got this fund to inure itself against

1472
01:13:55,000 --> 01:13:57,880
Speaker 3: future shocks, et cetera. It has to do something with

1473
01:13:57,920 --> 01:13:59,839
Speaker 3: the money. What's going to happen to the money.

1474
01:14:00,320 --> 01:14:02,120
Speaker 24: So from an investment point of view, it makes sense.

1475
01:14:02,160 --> 01:14:04,639
Speaker 24: When why would you have all your money in one

1476
01:14:04,720 --> 01:14:07,560
Speaker 24: stock effectively, well not all your money, but you know

1477
01:14:07,600 --> 01:14:09,200
Speaker 24: a big chunk of that money in one stock.

1478
01:14:09,240 --> 01:14:09,800
Speaker 9: You don't do that.

1479
01:14:09,840 --> 01:14:12,080
Speaker 24: You have a fund with a whole range of stocks

1480
01:14:12,080 --> 01:14:14,960
Speaker 24: and you probably, you don't know, stick with.

1481
01:14:14,920 --> 01:14:15,519
Speaker 11: The nz X.

1482
01:14:15,600 --> 01:14:18,040
Speaker 24: You're probably going to head offshore and go to the

1483
01:14:18,080 --> 01:14:20,720
Speaker 24: most lucrative markets and try and get a better, more

1484
01:14:20,720 --> 01:14:24,599
Speaker 24: stable return because you know you're vulnerable with one stock.

1485
01:14:24,680 --> 01:14:26,960
Speaker 24: So it makes sense, but it kind of felt to

1486
01:14:27,000 --> 01:14:28,960
Speaker 24: me like the end of a little bit of a

1487
01:14:29,000 --> 01:14:33,599
Speaker 24: sorry saga. I've been covering the Council's efforts to get

1488
01:14:33,640 --> 01:14:37,800
Speaker 24: out of, or not out of sell these airport shares

1489
01:14:37,800 --> 01:14:40,400
Speaker 24: since about two thousand and two. I think I could

1490
01:14:40,439 --> 01:14:42,880
Speaker 24: find the Herald talking about it since nineteen ninety nine.

1491
01:14:42,880 --> 01:14:45,920
Speaker 24: So there's been various times where there's been big interests

1492
01:14:45,920 --> 01:14:50,880
Speaker 24: from overseas players ninety nine, two thousand and seven where

1493
01:14:51,080 --> 01:14:54,080
Speaker 24: the Council could have shot sold what was a strategic stake,

1494
01:14:54,160 --> 01:14:57,800
Speaker 24: like almost a controlling stake above twenty percent for a premium,

1495
01:14:57,920 --> 01:14:59,639
Speaker 24: and then they could have gone and used the money

1496
01:15:00,160 --> 01:15:02,719
Speaker 24: where to generate more return.

1497
01:15:02,800 --> 01:15:05,599
Speaker 3: But so if you're saying they could have made more

1498
01:15:05,640 --> 01:15:07,320
Speaker 3: if they sold earlier.

1499
01:15:07,600 --> 01:15:10,160
Speaker 24: Yeah, I think what held the whole thing up, obviously

1500
01:15:10,240 --> 01:15:13,600
Speaker 24: in a democratic process, is there was a debate for

1501
01:15:13,640 --> 01:15:15,760
Speaker 24: a long time which has been lost by the state

1502
01:15:15,800 --> 01:15:19,559
Speaker 24: ownership people really about whether we should strategically have a

1503
01:15:19,600 --> 01:15:21,960
Speaker 24: controlling stake in our own airport, whether we need to

1504
01:15:22,040 --> 01:15:25,640
Speaker 24: as a council or a government own these assets. And

1505
01:15:26,120 --> 01:15:28,840
Speaker 24: you know, look that there may be some arguments, but

1506
01:15:28,960 --> 01:15:32,120
Speaker 24: clearly it's been lost. And so what's what's happened is

1507
01:15:32,120 --> 01:15:34,840
Speaker 24: that we've ended up selling in bits and pieces, selling down,

1508
01:15:34,920 --> 01:15:39,280
Speaker 24: not taking up the capital, the capital raising the share

1509
01:15:39,320 --> 01:15:43,519
Speaker 24: issue during COVID which moved them below twenty percent. You

1510
01:15:43,560 --> 01:15:46,200
Speaker 24: lose a premium below twenty percent. Basically, if you want

1511
01:15:46,200 --> 01:15:48,320
Speaker 24: to sell more than twenty percent, you can get a

1512
01:15:48,400 --> 01:15:51,320
Speaker 24: very good price if there's a big international buyer looking

1513
01:15:51,320 --> 01:15:53,559
Speaker 24: to do a takeover. But you know they've done it right,

1514
01:15:53,600 --> 01:15:56,000
Speaker 24: they've sold on market. They've done a right with this transaction.

1515
01:15:56,160 --> 01:15:59,360
Speaker 24: But if you look back over twenty five years, maybe

1516
01:15:59,439 --> 01:16:01,360
Speaker 24: they could have been in a bit more financially savvy.

1517
01:16:01,760 --> 01:16:04,679
Speaker 3: And there's also been argibagi about the Future Fund amongst

1518
01:16:04,680 --> 01:16:07,720
Speaker 3: the councilors themselves. This is wayde Brown's big idea, you know,

1519
01:16:07,920 --> 01:16:10,400
Speaker 3: just to try and free up capital, because he's seen

1520
01:16:10,640 --> 01:16:13,080
Speaker 3: he's had to do all the stuff after the storms,

1521
01:16:13,080 --> 01:16:14,760
Speaker 3: he's had to do all every now and then you

1522
01:16:14,800 --> 01:16:16,200
Speaker 3: get a shock, and when you get a shock, you

1523
01:16:16,280 --> 01:16:18,040
Speaker 3: have to pay for it, and then you head up

1524
01:16:18,040 --> 01:16:20,080
Speaker 3: the rate payers. And he doesn't want to do that anymore.

1525
01:16:20,600 --> 01:16:22,639
Speaker 3: So so now we're going to have debate about what

1526
01:16:22,680 --> 01:16:24,720
Speaker 3: to do with the one point three billion, how much

1527
01:16:24,720 --> 01:16:26,840
Speaker 3: of it to keep liquid, how much of it to

1528
01:16:26,880 --> 01:16:28,880
Speaker 3: stick away another invest ethical.

1529
01:16:28,560 --> 01:16:28,760
Speaker 7: To be.

1530
01:16:30,520 --> 01:16:32,559
Speaker 24: Going to get a straight into tobacco stocks because they're

1531
01:16:32,560 --> 01:16:33,560
Speaker 24: making good money.

1532
01:16:33,360 --> 01:16:35,240
Speaker 3: Or you said as soon as you said, they'll go

1533
01:16:35,320 --> 01:16:37,880
Speaker 3: for an overseas market. But you know, so it is

1534
01:16:37,920 --> 01:16:42,479
Speaker 3: on the council. Richard Hills invested in New Zealand company.

1535
01:16:42,560 --> 01:16:45,920
Speaker 24: How much political obligation do they have to do all that?

1536
01:16:46,040 --> 01:16:48,519
Speaker 24: But really, if it becomes like a you know, we've

1537
01:16:48,520 --> 01:16:50,240
Speaker 24: got a good model and the n z's super fund,

1538
01:16:50,240 --> 01:16:53,000
Speaker 24: which is is trying to be sort of ethical ish.

1539
01:16:53,160 --> 01:16:55,160
Speaker 24: You know, I think they're still in oil stocks, but

1540
01:16:55,200 --> 01:16:58,240
Speaker 24: they've got out of you know, they're not in guns

1541
01:16:58,280 --> 01:17:01,720
Speaker 24: and all that, all that sort of stuff. You know,

1542
01:17:01,800 --> 01:17:04,320
Speaker 24: so ethical ish, and really, you know, at this point

1543
01:17:04,320 --> 01:17:06,680
Speaker 24: you're going, well, this fund is meant to maximize the

1544
01:17:06,720 --> 01:17:10,559
Speaker 24: return for rate payers, and so I guess they've got

1545
01:17:10,560 --> 01:17:12,519
Speaker 24: a look at setting something up that can do as

1546
01:17:12,520 --> 01:17:15,960
Speaker 24: well as that and of course return more than the

1547
01:17:16,439 --> 01:17:18,320
Speaker 24: airport returns over the next few years.

1548
01:17:18,479 --> 01:17:20,439
Speaker 3: We need to minimize the dead rats that need to

1549
01:17:20,439 --> 01:17:20,960
Speaker 3: be swallowed.

1550
01:17:21,680 --> 01:17:21,960
Speaker 9: You go.

1551
01:17:22,200 --> 01:17:24,400
Speaker 3: But here's and here's the thing that I talked about

1552
01:17:24,439 --> 01:17:27,240
Speaker 3: last hour from my point of view, was that all

1553
01:17:27,240 --> 01:17:31,160
Speaker 3: the money that went into to the Council's coffers came

1554
01:17:31,160 --> 01:17:34,200
Speaker 3: out of stocks elsewhere in the market, so overall the

1555
01:17:34,320 --> 01:17:37,760
Speaker 3: nz X dropped. It actually had its worst day, and

1556
01:17:37,800 --> 01:17:40,200
Speaker 3: it just struck me that that shows you just how

1557
01:17:40,320 --> 01:17:43,960
Speaker 3: few real hero stocks we have, and the brokers all

1558
01:17:44,040 --> 01:17:46,640
Speaker 3: jumped through the for the newest thing. And while this

1559
01:17:46,720 --> 01:17:48,760
Speaker 3: doesn't affect each of the companies, you know, it does

1560
01:17:48,840 --> 01:17:51,000
Speaker 3: affect their ability to capitalize and do all sorts of thing.

1561
01:17:51,280 --> 01:17:53,560
Speaker 24: The airport's a useful thing if it's in a portfolio

1562
01:17:53,600 --> 01:17:55,800
Speaker 24: because it's not going anywhere. It'll go up and down

1563
01:17:55,840 --> 01:17:59,320
Speaker 24: with it. But you know, it's considered infrastructure stable investment,

1564
01:18:00,120 --> 01:18:02,840
Speaker 24: not a huge returner. But it does reflect the fact

1565
01:18:02,840 --> 01:18:05,080
Speaker 24: that the money's all been heading to Wall Street. I

1566
01:18:05,120 --> 01:18:07,760
Speaker 24: mean those tech stocks, you know, the thing propping up

1567
01:18:07,800 --> 01:18:11,280
Speaker 24: our KIV saber funds and it's I'm reading stuff. It

1568
01:18:11,320 --> 01:18:14,840
Speaker 24: does worry a few commentators that, you know, by pouring

1569
01:18:14,880 --> 01:18:16,960
Speaker 24: all that money into Wall Street, it just grows and

1570
01:18:16,960 --> 01:18:20,080
Speaker 24: grows and grows. It's pretty highly valued already, so in

1571
01:18:20,120 --> 01:18:21,600
Speaker 24: a funny sort of way, it's a bit of a

1572
01:18:21,600 --> 01:18:23,800
Speaker 24: dilemma for them, really, whether they go for all those

1573
01:18:23,880 --> 01:18:26,439
Speaker 24: highly valued stocks that have returned so much over the

1574
01:18:26,520 --> 01:18:27,000
Speaker 24: past year.

1575
01:18:27,040 --> 01:18:31,040
Speaker 3: Yeah, well, like Nvidia, you know, that's a hero stock, absolutely,

1576
01:18:31,080 --> 01:18:33,040
Speaker 3: but also some people are also going, well, it might

1577
01:18:33,080 --> 01:18:35,120
Speaker 3: not be as much of a hero as you think,

1578
01:18:35,200 --> 01:18:37,040
Speaker 3: and so if that's the case, then you've got to collapse,

1579
01:18:37,080 --> 01:18:39,280
Speaker 3: so you know. But at the same time, what I'm

1580
01:18:39,320 --> 01:18:41,120
Speaker 3: saying is in New Zealand, it would be great if

1581
01:18:41,160 --> 01:18:42,559
Speaker 3: we had a few more hero stocks.

1582
01:18:42,600 --> 01:18:44,080
Speaker 24: I think that is I think that is a big

1583
01:18:44,120 --> 01:18:47,200
Speaker 24: issue with our economy, the lack of a really large

1584
01:18:47,240 --> 01:18:50,840
Speaker 24: financial sector. We don't have the banks, we don't have

1585
01:18:51,880 --> 01:18:54,599
Speaker 24: you know, we have a fledgling tech sector but not

1586
01:18:54,640 --> 01:18:57,519
Speaker 24: really listed, you know, so we don't have a great

1587
01:18:57,560 --> 01:19:00,479
Speaker 24: representation of the economy on our sheer market. We haven't

1588
01:19:00,520 --> 01:19:03,000
Speaker 24: for a while. And it's just got so much easier

1589
01:19:03,040 --> 01:19:04,960
Speaker 24: for that. All the young people coming into stocks and

1590
01:19:04,960 --> 01:19:07,640
Speaker 24: shears which is great on shears's and whatnot. Now they

1591
01:19:07,640 --> 01:19:09,320
Speaker 24: can just go around the world and so.

1592
01:19:09,960 --> 01:19:11,639
Speaker 3: You know, you know where the money is. The money

1593
01:19:11,680 --> 01:19:12,840
Speaker 3: is in our houses.

1594
01:19:12,479 --> 01:19:14,640
Speaker 24: That is right, And that's a whole other conversation.

1595
01:19:15,320 --> 01:19:18,160
Speaker 3: Good stuff, Thank you so much. Liam.

1596
01:19:18,760 --> 01:19:22,000
Speaker 2: The Rural Report on hither do for see Alan Drive.

1597
01:19:22,800 --> 01:19:26,400
Speaker 3: Jerry McKay from the Country, Hello, how are you mate. Oh,

1598
01:19:26,439 --> 01:19:27,240
Speaker 3: I have to push a button.

1599
01:19:27,240 --> 01:19:27,559
Speaker 2: Hold on.

1600
01:19:27,600 --> 01:19:29,400
Speaker 3: I thought you were on WhatsApp. No, of course not,

1601
01:19:29,400 --> 01:19:30,160
Speaker 3: you're on a phone.

1602
01:19:30,920 --> 01:19:34,040
Speaker 13: Hello Jamie, Hello Andrew, Take two.

1603
01:19:34,120 --> 01:19:34,519
Speaker 9: Take two.

1604
01:19:34,600 --> 01:19:36,880
Speaker 3: How was the Emerson's golf opened at the Otago Golf

1605
01:19:36,880 --> 01:19:37,679
Speaker 3: Club last week?

1606
01:19:38,360 --> 01:19:41,479
Speaker 13: It was wonderful, Thank you. Wonderful but a controversy with

1607
01:19:41,520 --> 01:19:44,040
Speaker 13: the winning team, but other than that a great day.

1608
01:19:44,360 --> 01:19:45,160
Speaker 3: Did you win again?

1609
01:19:46,120 --> 01:19:48,400
Speaker 13: No, no, no, no, no golf and I will golf

1610
01:19:48,439 --> 01:19:51,680
Speaker 13: and winning and myself are kind of mutually exclusive.

1611
01:19:51,760 --> 01:19:55,280
Speaker 3: Andrew, Yeah, okay, well good, well, look, come and play

1612
01:19:55,320 --> 01:19:57,120
Speaker 3: golf in the other island from time to time and

1613
01:19:57,120 --> 01:19:59,880
Speaker 3: then you'll find out. Now, the big story is for

1614
01:20:00,120 --> 01:20:02,280
Speaker 3: tear a ten dollars milk price despite a thirty percent

1615
01:20:02,400 --> 01:20:04,160
Speaker 3: drop in profit. But the farm gate's good.

1616
01:20:05,280 --> 01:20:07,840
Speaker 13: Yeah, I look, and I heard most of your interview.

1617
01:20:07,960 --> 01:20:11,320
Speaker 13: Will you chat with Andrew Murray the CFO or the

1618
01:20:11,360 --> 01:20:15,080
Speaker 13: new CFO. Look, I no surprise that the profit's down

1619
01:20:15,080 --> 01:20:17,200
Speaker 13: a way that when the milk price goes up, the

1620
01:20:17,400 --> 01:20:20,800
Speaker 13: ingredients are more expensive. But look, this is a cooperative.

1621
01:20:20,800 --> 01:20:23,439
Speaker 13: It's owned by the farmers. The most important number, by

1622
01:20:23,640 --> 01:20:26,719
Speaker 13: the length of the straight is the milk price. Ten dollars.

1623
01:20:27,120 --> 01:20:29,599
Speaker 13: It's a new record. I've never been in double digits

1624
01:20:29,600 --> 01:20:32,880
Speaker 13: before Eclipse is the previous record of nine dollars thirty

1625
01:20:32,880 --> 01:20:35,040
Speaker 13: in the twenty one to twenty two season. But to

1626
01:20:35,080 --> 01:20:37,599
Speaker 13: be honest, before everyone thinks the dairy farmers are going

1627
01:20:37,640 --> 01:20:41,080
Speaker 13: to get rich and that's fleece them or do whatever.

1628
01:20:41,760 --> 01:20:44,680
Speaker 13: In real terms, probably the best payout, and it was,

1629
01:20:45,000 --> 01:20:48,280
Speaker 13: would be twenty thirteen fourteen eight dollars forty. That's a

1630
01:20:48,320 --> 01:20:51,919
Speaker 13: decade ago. Since then we've had horrendous on farm inflation.

1631
01:20:52,160 --> 01:20:54,760
Speaker 13: So ten dollars, make no mistake about it. There's a

1632
01:20:54,800 --> 01:20:58,320
Speaker 13: great number. And if you're not making money at ten dollars, Andrew,

1633
01:20:58,439 --> 01:20:59,519
Speaker 13: you shouldn't be milking cow.

1634
01:21:00,080 --> 01:21:02,479
Speaker 3: Okay, yeah, exactly. And I have to say I'd been

1635
01:21:02,479 --> 01:21:05,320
Speaker 3: getting a bit depressed about things because of the price

1636
01:21:05,400 --> 01:21:07,280
Speaker 3: it was tracking down, and then you heard that the

1637
01:21:07,360 --> 01:21:10,439
Speaker 3: Chinese economy was tracking down and thought none of us

1638
01:21:10,479 --> 01:21:12,759
Speaker 3: is good. But as it turns out, they didn't actually

1639
01:21:12,760 --> 01:21:15,800
Speaker 3: maintain their domestic production and so we had to step

1640
01:21:15,800 --> 01:21:17,760
Speaker 3: in to help them out. So that is good, and

1641
01:21:17,800 --> 01:21:20,080
Speaker 3: so everything is good in the end. That's a good thing.

1642
01:21:21,200 --> 01:21:22,040
Speaker 13: Yeah, absolutely.

1643
01:21:22,680 --> 01:21:24,920
Speaker 3: Now what's a bad thing is we've had fewer lambs

1644
01:21:24,920 --> 01:21:26,040
Speaker 3: this spring. How come?

1645
01:21:26,880 --> 01:21:31,679
Speaker 13: Oh gee, well, where do I start trees? Pine trees

1646
01:21:31,720 --> 01:21:34,680
Speaker 13: in the weather might be one reason. So Beef and

1647
01:21:34,760 --> 01:21:37,040
Speaker 13: Lamb New Zealand have just put out their estimates and

1648
01:21:37,080 --> 01:21:39,600
Speaker 13: this is a forecast only at this stage for the

1649
01:21:39,680 --> 01:21:43,800
Speaker 13: lambing of twenty twenty four, and they're saying we were

1650
01:21:43,840 --> 01:21:46,840
Speaker 13: expecting a decrease in the number of lambs tailed or dock,

1651
01:21:46,960 --> 01:21:49,559
Speaker 13: depending on which island you're in, by one point one

1652
01:21:49,680 --> 01:21:52,800
Speaker 13: million head or five or five point two percent, which

1653
01:21:52,840 --> 01:21:56,439
Speaker 13: is a substantial drop really, bringing the total lamb crop

1654
01:21:56,520 --> 01:21:59,640
Speaker 13: to an estimated nineteen point two million. Now, you've got

1655
01:21:59,680 --> 01:22:03,200
Speaker 13: to remember Andrew in the early nineteen eighties when Muldoon

1656
01:22:03,320 --> 01:22:06,360
Speaker 13: was running rifle with us with his subsidies, and that

1657
01:22:06,479 --> 01:22:09,640
Speaker 13: we had seventeen million sheep in this country. Nowadays we

1658
01:22:09,720 --> 01:22:12,600
Speaker 13: only have about twenty three to twenty four million, and

1659
01:22:12,640 --> 01:22:16,759
Speaker 13: our lamb crop is nineteen point two million. A number

1660
01:22:16,760 --> 01:22:20,439
Speaker 13: of lambs available for export is even worse. It's down

1661
01:22:20,560 --> 01:22:25,000
Speaker 13: six point five percent for the whole season. But the

1662
01:22:25,040 --> 01:22:30,320
Speaker 13: good news is supply and demand, less lambs more demand. Effectively,

1663
01:22:30,720 --> 01:22:33,679
Speaker 13: early season farm gate prices for sheep meat have been

1664
01:22:33,960 --> 01:22:35,880
Speaker 13: quite a bit higher than last year. They're sitting on

1665
01:22:35,880 --> 01:22:38,040
Speaker 13: about eight bucks at the moment, which is good, could

1666
01:22:38,040 --> 01:22:40,960
Speaker 13: be better. They really need ten dollars and of course

1667
01:22:41,000 --> 01:22:44,080
Speaker 13: cattle prices remain strong there a record as well. So

1668
01:22:44,200 --> 01:22:48,880
Speaker 13: look all in all, Andrew farmers heading into Christmas apart

1669
01:22:48,880 --> 01:22:50,920
Speaker 13: from the weather and you can't do anything about that

1670
01:22:51,200 --> 01:22:52,679
Speaker 13: would have to be reasonably happy.

1671
01:22:52,840 --> 01:22:55,479
Speaker 3: Good stuff. Joey McKay for the Country The Country dot

1672
01:22:55,520 --> 01:22:58,280
Speaker 3: co dot m Z and it is now six twenty eight,

1673
01:22:58,760 --> 01:23:00,760
Speaker 3: so we've got some views on the way. Next we'll

1674
01:23:00,800 --> 01:23:04,840
Speaker 3: be talking to Barney Irvine about the much needed entergy

1675
01:23:04,880 --> 01:23:07,200
Speaker 3: reform that we really need in this country, and the

1676
01:23:07,240 --> 01:23:09,360
Speaker 3: Brady will be joining us as well, and with a

1677
01:23:09,360 --> 01:23:12,240
Speaker 3: bit of luck, we'll have Christopher Lux and Spotify rapped

1678
01:23:12,320 --> 01:23:15,479
Speaker 3: list what music does our Prime Minister listen to? And

1679
01:23:15,840 --> 01:23:18,400
Speaker 3: the last song will be my number one.

1680
01:23:19,720 --> 01:23:24,559
Speaker 1: Man quaching the numbers and getting the results. It's Andrew

1681
01:23:24,600 --> 01:23:28,400
Speaker 1: Dickens with the Business Hour thanks to my HR the

1682
01:23:28,640 --> 01:23:32,480
Speaker 1: HR Solution for Busy s Emmy's on news Talk Zippy.

1683
01:23:34,360 --> 01:23:34,639
Speaker 2: Today.

1684
01:23:36,720 --> 01:23:40,200
Speaker 3: I want you, I need you, hold God, dude.

1685
01:23:41,320 --> 01:23:41,799
Speaker 16: Take.

1686
01:23:43,560 --> 01:23:48,160
Speaker 2: The thing that I've got.

1687
01:24:03,000 --> 01:24:08,320
Speaker 3: Ladies and gentlemen, I present the new Zealand's most listened

1688
01:24:08,360 --> 01:24:12,000
Speaker 3: to song on Spotify over the past year. And he's

1689
01:24:12,080 --> 01:24:16,120
Speaker 3: a somewhat over fort twenty two year old man from Monroe,

1690
01:24:16,160 --> 01:24:19,719
Speaker 3: Washington by the name of Benson Boom who gets quite

1691
01:24:19,720 --> 01:24:22,360
Speaker 3: excited about beautiful things. But it's a good song. Guess what?

1692
01:24:22,760 --> 01:24:25,479
Speaker 3: Guess what? Yes, he was a contestant in American niol

1693
01:24:25,520 --> 01:24:29,639
Speaker 3: Did he win? You know? He actually withdrew voluntarily, that's right.

1694
01:24:29,680 --> 01:24:31,519
Speaker 3: He competed for a bit and then he pulled out.

1695
01:24:32,360 --> 01:24:35,040
Speaker 3: But obviously he's got the number one song on New Zealand.

1696
01:24:35,160 --> 01:24:37,640
Speaker 3: You wonder whether he walks around Munroe, Washington going, hey,

1697
01:24:37,720 --> 01:24:47,280
Speaker 3: guess what I the most listened to thing in New Zealand.

1698
01:24:49,400 --> 01:24:51,680
Speaker 3: I will down to thank you, thank you very much.

1699
01:24:51,800 --> 01:24:56,519
Speaker 3: I will run through Christopher Lackson's rapped list of Spotify songs.

1700
01:24:56,640 --> 01:24:59,720
Speaker 3: What songs did he listen to in twenty twenty four?

1701
01:25:00,000 --> 01:25:02,960
Speaker 3: All right, now, there's a call for urgent energy reform

1702
01:25:03,479 --> 01:25:08,679
Speaker 3: to avoid New Zealand's d industrialization. The Northern Infrastructure Forum,

1703
01:25:08,720 --> 01:25:11,240
Speaker 3: together with the Auckland Business Chamber, hosted an event I

1704
01:25:11,280 --> 01:25:13,559
Speaker 3: think was today to come up with some solutions to

1705
01:25:13,600 --> 01:25:16,320
Speaker 3: the huge cost of energy that is hurting Business and

1706
01:25:16,520 --> 01:25:21,519
Speaker 3: Barney Irvine. Barnie Irvine is the executive director at the

1707
01:25:21,560 --> 01:25:25,760
Speaker 3: Northern Infrastructure Forum and joins me. Now, hello, Barnie good Eden.

1708
01:25:26,840 --> 01:25:29,120
Speaker 3: What do you mean by New zealand'sd industrialization.

1709
01:25:31,040 --> 01:25:33,720
Speaker 11: Well, what it refers to is the fact that, I

1710
01:25:33,760 --> 01:25:39,320
Speaker 11: mean we're currently in a situation where where there's such

1711
01:25:39,560 --> 01:25:42,720
Speaker 11: a supply demand and balance and that as soon as

1712
01:25:42,720 --> 01:25:46,519
Speaker 11: the demand ramps up, the inevitable response is that we

1713
01:25:46,640 --> 01:25:54,000
Speaker 11: require businesses to reduce their demand to suppress demand, so

1714
01:25:54,040 --> 01:25:58,360
Speaker 11: that there they're doing less of what they do, or

1715
01:26:00,720 --> 01:26:04,960
Speaker 11: businesses are facing such high costs for energy that is

1716
01:26:05,000 --> 01:26:08,760
Speaker 11: in the case of og, fiber Solutions and others, they're

1717
01:26:08,760 --> 01:26:12,040
Speaker 11: shutting their doors and so it's it's and this comes

1718
01:26:12,800 --> 01:26:13,960
Speaker 11: an enormous cost.

1719
01:26:15,120 --> 01:26:17,360
Speaker 3: Yes, And as you say, it's supply and demand. And

1720
01:26:17,400 --> 01:26:19,960
Speaker 3: when you know the supply is not enough and the

1721
01:26:20,000 --> 01:26:23,320
Speaker 3: demands up there and the price goes up, it drives,

1722
01:26:23,400 --> 01:26:26,920
Speaker 3: It puts businesses out of business. So the question there economics,

1723
01:26:27,479 --> 01:26:29,880
Speaker 3: of course it is. So the question is how are

1724
01:26:29,880 --> 01:26:32,240
Speaker 3: we going to make the energy more affordable? So how

1725
01:26:32,280 --> 01:26:33,920
Speaker 3: are we going to make the energy more affordable?

1726
01:26:35,040 --> 01:26:39,719
Speaker 11: Yeah, well we we So we had about sixty sector

1727
01:26:39,800 --> 01:26:43,880
Speaker 11: leaders with us yesterday from from a right across the right,

1728
01:26:43,920 --> 01:26:50,120
Speaker 11: across the sector generators, retailers, transmission companies and and and

1729
01:26:50,240 --> 01:26:54,080
Speaker 11: investors and so obviously there's a lot of talk about

1730
01:26:54,560 --> 01:26:57,759
Speaker 11: the challenges the problems facing the sector, but big focus

1731
01:26:57,760 --> 01:26:59,760
Speaker 11: on solutions and so some of the themes that came

1732
01:26:59,800 --> 01:27:03,759
Speaker 11: through really clearly there where Okay, well, we we obviously

1733
01:27:03,840 --> 01:27:09,400
Speaker 11: really need to increase the security of supply. The need

1734
01:27:09,479 --> 01:27:14,040
Speaker 11: security supply through much more generation from renewables. There has

1735
01:27:14,040 --> 01:27:16,760
Speaker 11: to be the long term sort of objective, so we're

1736
01:27:16,760 --> 01:27:21,760
Speaker 11: not relying so heavily on hydro generation for both the

1737
01:27:22,200 --> 01:27:26,200
Speaker 11: base load and the peak. We can rely on hydro okay, so.

1738
01:27:26,880 --> 01:27:30,760
Speaker 3: Geo, thermal, geothermal, solar offshore and on shore. When that's

1739
01:27:30,760 --> 01:27:31,840
Speaker 3: the renewables, we've got the.

1740
01:27:31,800 --> 01:27:37,800
Speaker 12: Hydro exitro, yes, our hydro sort of we rely on

1741
01:27:37,920 --> 01:27:41,320
Speaker 12: hydro to function as a battery to deliver that that

1742
01:27:41,520 --> 01:27:44,120
Speaker 12: to respond to the peak because if we're not, if

1743
01:27:44,120 --> 01:27:45,880
Speaker 12: we're not sort of putting such a.

1744
01:27:45,800 --> 01:27:50,280
Speaker 11: Load on on on hydro, it can perform that function.

1745
01:27:50,080 --> 01:27:53,600
Speaker 3: Really rely but hold of money, you do actually say that,

1746
01:27:53,640 --> 01:27:55,200
Speaker 3: but you do realize this is the week that a

1747
01:27:55,240 --> 01:27:56,559
Speaker 3: solar company went bust.

1748
01:27:59,280 --> 01:28:01,920
Speaker 11: Right, and so we would be relying just on solar

1749
01:28:02,400 --> 01:28:06,559
Speaker 11: wind as well geo thermal and and much more of

1750
01:28:06,640 --> 01:28:07,920
Speaker 11: all of us well.

1751
01:28:09,360 --> 01:28:11,800
Speaker 3: Plus And I understand what you're saying, but is it

1752
01:28:11,920 --> 01:28:15,880
Speaker 3: just is it? Is it? Is it a dream actualization?

1753
01:28:16,040 --> 01:28:16,320
Speaker 9: Really?

1754
01:28:16,479 --> 01:28:18,639
Speaker 3: You know, when we're having so many difficulties with solar

1755
01:28:18,880 --> 01:28:21,840
Speaker 3: where we have a limitation on geo thermal and where

1756
01:28:21,840 --> 01:28:23,600
Speaker 3: we have to spend an awful lot of money to

1757
01:28:23,600 --> 01:28:27,920
Speaker 3: stick there, to stick the the the ones in the

1758
01:28:28,040 --> 01:28:30,040
Speaker 3: in the in the air, to pick up the wind,

1759
01:28:30,120 --> 01:28:32,280
Speaker 3: you know, is this is this something that we could

1760
01:28:32,360 --> 01:28:34,200
Speaker 3: dream for? Is it actually achievable?

1761
01:28:35,560 --> 01:28:38,920
Speaker 11: Oh, it's certainly the view of the group of those

1762
01:28:38,960 --> 01:28:42,719
Speaker 11: gathered with us. Yes it is achievable. But the point

1763
01:28:42,760 --> 01:28:45,240
Speaker 11: is it has to be we have to come up

1764
01:28:45,280 --> 01:28:47,760
Speaker 11: with solutions for this because what we're dealing with at

1765
01:28:47,760 --> 01:28:53,080
Speaker 11: the moment just just you know, just just isn't sustainable.

1766
01:28:53,680 --> 01:28:56,400
Speaker 11: And yeah, that's right. And so look in terms of

1767
01:28:56,439 --> 01:29:00,280
Speaker 11: some of those initiatives, we need to we need to

1768
01:29:00,320 --> 01:29:02,840
Speaker 11: get more new entrants coming into into the market. So

1769
01:29:02,880 --> 01:29:05,679
Speaker 11: there's some obvious tools we can use there in terms

1770
01:29:05,720 --> 01:29:10,280
Speaker 11: of that. The way pricing contracts are structured, there are

1771
01:29:10,320 --> 01:29:14,320
Speaker 11: some some obvious opportunities there in detail of those that

1772
01:29:14,760 --> 01:29:17,719
Speaker 11: we need much better stewardship leadership of the sector.

1773
01:29:18,360 --> 01:29:22,240
Speaker 3: Can ask your questions here we go. You want a

1774
01:29:22,240 --> 01:29:23,200
Speaker 3: single regulator?

1775
01:29:23,320 --> 01:29:29,200
Speaker 11: Why to have a clear leadership of the of the sector.

1776
01:29:29,439 --> 01:29:33,440
Speaker 11: At the moment it's disaggregated across a range of agencies

1777
01:29:33,439 --> 01:29:36,439
Speaker 11: and there just isn't clear leadership. We need a single

1778
01:29:36,439 --> 01:29:38,160
Speaker 11: agency with accountability.

1779
01:29:38,439 --> 01:29:41,599
Speaker 3: You want to develop it, yes, and that's good, a.

1780
01:29:41,560 --> 01:29:44,920
Speaker 11: Proper, proper plan for the sector. And look at that.

1781
01:29:45,000 --> 01:29:48,040
Speaker 11: The last point, really critically is that there has to

1782
01:29:48,080 --> 01:29:51,160
Speaker 11: be some sort of of market reform. And that's getting

1783
01:29:51,240 --> 01:29:55,360
Speaker 11: to that. You know, the gent tailor structure. There needs

1784
01:29:55,400 --> 01:30:00,479
Speaker 11: to be some sort of separation of that generate in

1785
01:30:00,600 --> 01:30:03,519
Speaker 11: retail function. Now that could be that could be a

1786
01:30:03,560 --> 01:30:08,479
Speaker 11: structural separation along the lines of telcos, or it could

1787
01:30:08,479 --> 01:30:13,479
Speaker 11: be operational, you know, sort of keeping those companies the

1788
01:30:13,520 --> 01:30:17,519
Speaker 11: same company. But that's separating out those functions. And and look,

1789
01:30:17,960 --> 01:30:21,920
Speaker 11: even the oec D is starting to say that make

1790
01:30:21,960 --> 01:30:23,960
Speaker 11: the same sort of commentary about what needs of.

1791
01:30:23,880 --> 01:30:25,599
Speaker 3: Course, of course, and we'll be saying this for a while.

1792
01:30:25,640 --> 01:30:27,880
Speaker 3: And what we've wondered is, you know, there's no plans

1793
01:30:27,880 --> 01:30:30,800
Speaker 3: for for for hydro, there is no plan or there's

1794
01:30:30,840 --> 01:30:33,479
Speaker 3: some plans for renewables, but there hasn't been enough from

1795
01:30:33,520 --> 01:30:37,120
Speaker 3: a number of administrations of all sides. Do you really

1796
01:30:37,160 --> 01:30:40,639
Speaker 3: just want New Zealand Inc. To start taking electricity generation

1797
01:30:40,920 --> 01:30:41,879
Speaker 3: a lot more seriously?

1798
01:30:43,280 --> 01:30:46,800
Speaker 11: Well, yeah, absolutely, that's that's it in a nutshell. That

1799
01:30:46,800 --> 01:30:50,040
Speaker 11: the you know, the really strong sentiment in the room

1800
01:30:50,120 --> 01:30:52,599
Speaker 11: yesterday at the event was what we have to act now.

1801
01:30:52,960 --> 01:30:56,200
Speaker 11: We cannot just hope at the moment. This is how

1802
01:30:56,200 --> 01:30:58,160
Speaker 11: it was praying use today. At the moment, we're relying

1803
01:30:58,200 --> 01:31:01,679
Speaker 11: on a hope strategy right and and hope just isn't

1804
01:31:01,680 --> 01:31:05,040
Speaker 11: going to get us there. We need some definitive action.

1805
01:31:05,479 --> 01:31:07,639
Speaker 11: We need change, and we need it now or else

1806
01:31:07,640 --> 01:31:11,680
Speaker 11: we're going to keep lurching from crisis to crisis, and

1807
01:31:12,439 --> 01:31:16,400
Speaker 11: exactly as Minister Jones said, we're going to slide into

1808
01:31:16,920 --> 01:31:18,320
Speaker 11: the industrialization.

1809
01:31:18,600 --> 01:31:21,120
Speaker 3: Good stuff, Barnie. I thank you so much for your

1810
01:31:21,160 --> 01:31:23,760
Speaker 3: time today. And it is now sixteen to one A

1811
01:31:23,840 --> 01:31:25,080
Speaker 3: seven sixteen seven.

1812
01:31:26,040 --> 01:31:29,880
Speaker 1: Whether it's macro, micro or just playing economics, it's all

1813
01:31:29,920 --> 01:31:33,479
Speaker 1: on the Business Hour with Andrew Dickens and my HR.

1814
01:31:33,800 --> 01:31:37,639
Speaker 1: The HR solution for busy SMEs News talksp this.

1815
01:31:37,640 --> 01:31:40,679
Speaker 3: Is what you've been going for all day. Christopher Likes

1816
01:31:40,760 --> 01:31:43,839
Speaker 3: and Spotify wrapped list. What did he listen to on Spotify?

1817
01:31:43,880 --> 01:31:46,200
Speaker 3: Can I just say that we are an iHeart Radio station,

1818
01:31:46,280 --> 01:31:49,040
Speaker 3: and iHeart Radio is very good at providing all the

1819
01:31:49,120 --> 01:31:51,960
Speaker 3: music needs, particularly radio, and indeed I have iHeart Radio

1820
01:31:52,000 --> 01:31:54,280
Speaker 3: and I use it to listen to radio and podcasts

1821
01:31:54,320 --> 01:31:57,400
Speaker 3: from around the world. But he also has Spotify because

1822
01:31:57,400 --> 01:32:00,000
Speaker 3: it's quite good for the old music, So don't judge us.

1823
01:32:00,120 --> 01:32:00,519
Speaker 9: Anyway.

1824
01:32:00,760 --> 01:32:03,280
Speaker 3: Let's get to Christopher Lucks and Prime Minister of New Zealand,

1825
01:32:03,720 --> 01:32:06,840
Speaker 3: and I'll go first through his top artists, and this

1826
01:32:06,920 --> 01:32:10,000
Speaker 3: has been revealed by Chris. He's proud of us. So

1827
01:32:10,040 --> 01:32:14,040
Speaker 3: at number five, Tim McGraw, no surprises, you know, touched

1828
01:32:14,040 --> 01:32:16,519
Speaker 3: of the down Home because remember where he used to work,

1829
01:32:17,080 --> 01:32:20,200
Speaker 3: So timgraw. Then it gets very bland. The Ed's Hearing's

1830
01:32:20,200 --> 01:32:24,000
Speaker 3: at number four, do a Leapers at number three, Classic disco,

1831
01:32:24,760 --> 01:32:28,160
Speaker 3: Fleetwood Mac who doesn't like Fleetwood Mac. That's Christopher Likes's

1832
01:32:28,240 --> 01:32:30,559
Speaker 3: number two artists, And at number one this is a

1833
01:32:30,600 --> 01:32:35,400
Speaker 3: shocker post Malone. Now, yes, that has been pointed out

1834
01:32:35,400 --> 01:32:37,720
Speaker 3: to me. The post Malone did a country album last time.

1835
01:32:37,760 --> 01:32:39,680
Speaker 3: But I mean it was a bizarre thing. But I

1836
01:32:39,720 --> 01:32:41,680
Speaker 3: would like to ask whether the Prime Minister of New

1837
01:32:41,760 --> 01:32:46,719
Speaker 3: Zealand has actually looked at post Malone's face and seen

1838
01:32:46,760 --> 01:32:50,280
Speaker 3: the tattoos and realize that's what he's listening to. Anyway,

1839
01:32:50,479 --> 01:32:52,720
Speaker 3: that's surprising. So let's go into the songs and we'll

1840
01:32:52,760 --> 01:32:53,880
Speaker 3: start off at number five.

1841
01:32:55,600 --> 01:33:00,800
Speaker 24: Let me tell you.

1842
01:33:00,320 --> 01:33:00,760
Speaker 11: Give him.

1843
01:33:03,800 --> 01:33:07,599
Speaker 3: Yes on a Friday night when he's getting a bit loose.

1844
01:33:08,200 --> 01:33:11,320
Speaker 3: Christopher Luxan likes to get down with a little boo thang,

1845
01:33:12,160 --> 01:33:15,120
Speaker 3: a little boot things. But this is a little boo bang.

1846
01:33:16,160 --> 01:33:19,240
Speaker 3: Can you see him? Can you see you've seen it.

1847
01:33:19,360 --> 01:33:21,720
Speaker 3: You've seen him and your mind's eye, you've seen him

1848
01:33:21,720 --> 01:33:31,080
Speaker 3: and you've thought no. All right? Add number four. Now

1849
01:33:31,120 --> 01:33:37,120
Speaker 3: I can see him dancing the night away, un buttoned

1850
01:33:37,120 --> 01:33:42,800
Speaker 3: the suit jacket on the dance for let the shirt

1851
01:33:42,840 --> 01:33:46,280
Speaker 3: hang out in all right. His wife will be dancing

1852
01:33:46,280 --> 01:33:48,560
Speaker 3: all round him like she's dancing around the mountain. And

1853
01:33:48,720 --> 01:33:51,599
Speaker 3: number three is Vienna. Now we don't know whether he's

1854
01:33:52,200 --> 01:33:54,960
Speaker 3: it's the Ultravox song Vienna or something strange. I don't know,

1855
01:33:55,000 --> 01:33:57,800
Speaker 3: you know, oh Vienna madeur? I don't know. Number two

1856
01:33:57,840 --> 01:34:01,040
Speaker 3: Real Love Baby but here we go this Christopher Luxon's

1857
01:34:01,120 --> 01:34:03,800
Speaker 3: most played song on Spotify.

1858
01:34:04,120 --> 01:34:05,880
Speaker 2: Feeling like someone.

1859
01:34:06,600 --> 01:34:07,320
Speaker 3: This makes sense.

1860
01:34:08,320 --> 01:34:14,280
Speaker 2: I'll be right. Shotgun sounds feeling like someone.

1861
01:34:14,600 --> 01:34:18,080
Speaker 3: This is this blake from Northern England, isn't it South

1862
01:34:18,320 --> 01:34:24,600
Speaker 3: of the George George is He's from northern England. This

1863
01:34:24,680 --> 01:34:27,000
Speaker 3: is Shotgun. It's a great album.

1864
01:34:27,880 --> 01:34:29,880
Speaker 8: Now I think he got to the Prime Minister riding

1865
01:34:29,880 --> 01:34:32,560
Speaker 8: a horse with the cowboy head on, telling me that this.

1866
01:34:33,720 --> 01:34:38,719
Speaker 3: Oh great, All right, let's go over seas. Enda Brady

1867
01:34:38,840 --> 01:34:40,599
Speaker 3: joins me. Now, hello Ender.

1868
01:34:41,240 --> 01:34:44,600
Speaker 5: Hey, Andrew, just chuckling along here in my kitchen in Oxfordshire.

1869
01:34:44,800 --> 01:34:46,720
Speaker 9: Very funny, all right.

1870
01:34:47,680 --> 01:34:50,760
Speaker 3: Now, master F Greg Wallace a man who's discovered that

1871
01:34:50,840 --> 01:34:52,760
Speaker 3: he's actually in the twenty first century and is in

1872
01:34:52,840 --> 01:34:56,040
Speaker 3: coping very well. What's up? What is the latest?

1873
01:34:57,560 --> 01:35:01,240
Speaker 5: More allegations today? This can going on now full seven

1874
01:35:01,360 --> 01:35:04,839
Speaker 5: days of front page news here the Master Chef co host.

1875
01:35:05,120 --> 01:35:09,080
Speaker 5: So the very latest is that the lady who ghost

1876
01:35:09,160 --> 01:35:13,360
Speaker 5: wrote his biography for him, Life on a Plate, she

1877
01:35:13,520 --> 01:35:16,679
Speaker 5: has come out today, breaking a non disclosure agreement because

1878
01:35:16,680 --> 01:35:19,280
Speaker 5: she felt it was important, and she says that she's

1879
01:35:19,320 --> 01:35:23,000
Speaker 5: accusing him of sexually harassing her while she was writing

1880
01:35:23,040 --> 01:35:27,320
Speaker 5: the book, various different incidents, relentless talk about his sex

1881
01:35:27,439 --> 01:35:33,280
Speaker 5: life and women girlfriends, and then she says that I'm

1882
01:35:33,520 --> 01:35:36,599
Speaker 5: and he was wearing a bath robe, and she said

1883
01:35:36,600 --> 01:35:39,080
Speaker 5: at one point then he dropped the bathrobe and said, oh,

1884
01:35:39,120 --> 01:35:42,200
Speaker 5: my trousers are just behind you there, and she said

1885
01:35:42,200 --> 01:35:44,360
Speaker 5: it just went on and on and on, and she

1886
01:35:45,000 --> 01:35:49,240
Speaker 5: lost the plot. Had completely enough of this guy pinching her, bomb,

1887
01:35:49,280 --> 01:35:53,599
Speaker 5: touching her leg. The allegations keep coming. Now he's denying

1888
01:35:53,680 --> 01:35:59,120
Speaker 5: any inappropriate behavior whatsoever. But it's interesting that his Australian

1889
01:35:59,200 --> 01:36:02,160
Speaker 5: co host, John Road, who is a very good chef,

1890
01:36:03,080 --> 01:36:05,960
Speaker 5: he has now come out with a statement on Instagram.

1891
01:36:06,120 --> 01:36:08,559
Speaker 5: A lot of contestants are saying, well hang on. John

1892
01:36:08,600 --> 01:36:10,720
Speaker 5: Tiuroad witnessed all of this and we haven't heard a

1893
01:36:10,760 --> 01:36:12,880
Speaker 5: word from him yet. He's come out and said that

1894
01:36:12,920 --> 01:36:16,080
Speaker 5: he's been away filming Master Chef overseas this week. However

1895
01:36:16,120 --> 01:36:19,000
Speaker 5: he finds it truly upsetting. That's the phrase of the

1896
01:36:19,000 --> 01:36:21,360
Speaker 5: word used by his co host if any of the

1897
01:36:21,400 --> 01:36:24,360
Speaker 5: people on Master Chef or people around them had an

1898
01:36:24,439 --> 01:36:28,320
Speaker 5: awful experience, So the co host effectively throwing Wallace under

1899
01:36:28,320 --> 01:36:28,759
Speaker 5: the bus.

1900
01:36:28,920 --> 01:36:32,040
Speaker 3: Yes, yeah, okay, let's move on to more positive things,

1901
01:36:32,120 --> 01:36:35,200
Speaker 3: the possibility of David Bigan getting a knighthood.

1902
01:36:36,280 --> 01:36:39,439
Speaker 5: So the serious newspapers here today have been very well

1903
01:36:40,280 --> 01:36:43,200
Speaker 5: point out that Beckham was invited to the reception the

1904
01:36:43,240 --> 01:36:46,000
Speaker 5: other day, the state banquet for the Emir of Katar.

1905
01:36:46,960 --> 01:36:50,000
Speaker 5: David attended with his wife Victoria, and they point out

1906
01:36:50,040 --> 01:36:52,519
Speaker 5: this is the fifth occasion in a few months this

1907
01:36:52,640 --> 01:36:55,320
Speaker 5: year that David has been at the beck and call

1908
01:36:55,479 --> 01:36:59,639
Speaker 5: of the Royals, various different charitable functions, the King's Foundation,

1909
01:37:00,040 --> 01:37:03,240
Speaker 5: lots of work, private dinner with the King. Apparently they

1910
01:37:03,280 --> 01:37:06,400
Speaker 5: share a love of bee keeping of all things. I

1911
01:37:06,439 --> 01:37:09,880
Speaker 5: would imagine King Charles would not know Manchester United from

1912
01:37:09,880 --> 01:37:11,639
Speaker 5: Manchester City if I'm Frank.

1913
01:37:12,680 --> 01:37:13,200
Speaker 11: So they're not.

1914
01:37:13,160 --> 01:37:15,599
Speaker 5: Talking about soccer, but apparently they can.

1915
01:37:17,040 --> 01:37:18,720
Speaker 2: It's a football.

1916
01:37:18,200 --> 01:37:22,040
Speaker 5: Fan, famously an Aston Villa fan. There is a relationship

1917
01:37:22,080 --> 01:37:24,360
Speaker 5: there as well, and the papers are pointing out that

1918
01:37:24,439 --> 01:37:27,360
Speaker 5: you know what people are forgetting is that not that

1919
01:37:27,439 --> 01:37:30,759
Speaker 5: many years ago there was a leaked email from Beckham

1920
01:37:30,840 --> 01:37:33,639
Speaker 5: with lots of expletives in it, ranting about what does

1921
01:37:33,680 --> 01:37:37,599
Speaker 5: he have to beeping do to get a knighthood? Well,

1922
01:37:37,720 --> 01:37:40,120
Speaker 5: it appears do lots of charity work, turn up to

1923
01:37:40,160 --> 01:37:43,799
Speaker 5: the functions beck and call no pun intended of the royals.

1924
01:37:43,800 --> 01:37:46,719
Speaker 5: But don't be surprised if in the King's News Year's

1925
01:37:46,760 --> 01:37:49,639
Speaker 5: Honors list it is a rise, Sir David.

1926
01:37:49,760 --> 01:37:51,880
Speaker 3: Yes, well, obviously the thing you had to do was

1927
01:37:51,960 --> 01:37:54,479
Speaker 3: keep some bees. But yeah, when I think to the

1928
01:37:54,520 --> 01:37:56,680
Speaker 3: Olympic campaign, when you've got the Olympics to London and

1929
01:37:56,720 --> 01:37:58,880
Speaker 3: all that, he was frendon center of that whole thing,

1930
01:37:59,320 --> 01:38:01,320
Speaker 3: and I think he does deserve it. He has been

1931
01:38:01,520 --> 01:38:04,000
Speaker 3: a faithful servant of your country. Do we have enough

1932
01:38:04,000 --> 01:38:06,840
Speaker 3: time to talk about the great Guinness drought of twenty

1933
01:38:06,880 --> 01:38:07,360
Speaker 3: twenty four.

1934
01:38:07,360 --> 01:38:10,360
Speaker 5: Well, honestly, I don't know if this is a genius

1935
01:38:10,400 --> 01:38:12,719
Speaker 5: marketing strategy to put out a press release and brief

1936
01:38:12,760 --> 01:38:15,080
Speaker 5: the media that they might run out of Guinness this Christmas,

1937
01:38:15,120 --> 01:38:18,080
Speaker 5: but that is apparently what's happening. Pubs in the UK

1938
01:38:18,439 --> 01:38:21,120
Speaker 5: have been told to limit their orders, that there is

1939
01:38:21,160 --> 01:38:23,800
Speaker 5: only so much to go around. Off the back of

1940
01:38:23,800 --> 01:38:27,080
Speaker 5: the autumn rugby internationals heavily sponsored by Guinness, Guinness has

1941
01:38:27,120 --> 01:38:30,599
Speaker 5: been everywhere. They're working with a lot of influencers. They reckon.

1942
01:38:30,760 --> 01:38:34,320
Speaker 5: Guinness consumption in the last quarter is up twenty percent,

1943
01:38:34,880 --> 01:38:37,240
Speaker 5: so there may well be a shortage of Guinness in

1944
01:38:37,280 --> 01:38:40,200
Speaker 5: England this Christmas. Delighted to say I'm going back to

1945
01:38:40,200 --> 01:38:42,720
Speaker 5: County Wexford in Ireland where we will live on it.

1946
01:38:43,479 --> 01:38:46,800
Speaker 5: The rivers in Wexford pretty much run and the whole

1947
01:38:46,800 --> 01:38:49,679
Speaker 5: country is powered by stout, so bring it on.

1948
01:38:49,880 --> 01:38:52,799
Speaker 3: Good stuff into Brady. I think you said about.

1949
01:38:52,720 --> 01:38:55,559
Speaker 2: Getting ready for a new administration in the US. What

1950
01:38:55,800 --> 01:38:56,719
Speaker 2: will be the impact?

1951
01:38:56,920 --> 01:39:00,760
Speaker 1: It's the business now with hither duplicy Ellen my HR

1952
01:39:00,960 --> 01:39:04,200
Speaker 1: the HR solution for busy SMS news Talk said be.

1953
01:39:07,160 --> 01:39:09,519
Speaker 3: Got a text saying did you just insinuate ender Brady

1954
01:39:09,640 --> 01:39:10,720
Speaker 3: is English?

1955
01:39:11,040 --> 01:39:11,360
Speaker 2: Did I?

1956
01:39:12,520 --> 01:39:14,439
Speaker 3: Then the text has check your rubbishin for a bomb

1957
01:39:14,439 --> 01:39:18,040
Speaker 3: before bed, which is quite funny. But he did admit

1958
01:39:18,080 --> 01:39:21,919
Speaker 3: that he lives in Oxfordshire and that, as I last understood,

1959
01:39:22,000 --> 01:39:22,559
Speaker 3: was in England.

1960
01:39:22,600 --> 01:39:22,840
Speaker 8: Right o.

1961
01:39:23,560 --> 01:39:27,400
Speaker 3: Spotify wrapped my list. This is shocking. This is my

1962
01:39:27,479 --> 01:39:31,280
Speaker 3: top artist at number five, Taylor Swift. I don't know

1963
01:39:31,280 --> 01:39:34,320
Speaker 3: how that happened. I'm sorry. I think it's because of

1964
01:39:34,320 --> 01:39:36,559
Speaker 3: all the press. You know, so I had to have

1965
01:39:36,600 --> 01:39:40,400
Speaker 3: a listen. I don't like the tortured poets very much.

1966
01:39:40,439 --> 01:39:42,680
Speaker 3: I like folklore, but there we go at number four,

1967
01:39:42,720 --> 01:39:48,599
Speaker 3: echoing the Bunnyman. I'm sorry, I was just being nostalgic

1968
01:39:48,680 --> 01:39:51,479
Speaker 3: at number three, Billy Heilot who is very good, at

1969
01:39:51,520 --> 01:39:54,400
Speaker 3: number two, Fat Freddy's Drop, whose new album Slow Mo

1970
01:39:54,680 --> 01:39:57,920
Speaker 3: is awesome, and at number one New Order, and that's

1971
01:39:57,960 --> 01:40:00,800
Speaker 3: because I was reading a book or about Peter. So

1972
01:40:00,840 --> 01:40:02,760
Speaker 3: then we get to our songs at number five, Under

1973
01:40:02,760 --> 01:40:06,040
Speaker 3: the Milky Way by the Church. Yeah, nostalgic sings and Arrows,

1974
01:40:06,080 --> 01:40:09,240
Speaker 3: Fat Freddy's Daniel by Beth's Flashes at number three. Other

1975
01:40:09,320 --> 01:40:11,719
Speaker 3: voices the cur at number two and number one, Billie

1976
01:40:11,760 --> 01:40:16,280
Speaker 3: Eilish and Wildflower. Thank you for your company today and

1977
01:40:16,400 --> 01:40:19,360
Speaker 3: the last couple of days. I'll see you later. Thank you,

1978
01:40:19,439 --> 01:40:22,880
Speaker 3: Team Laura ant Heathers. Back tomorrow.

1979
01:40:30,680 --> 01:40:33,880
Speaker 1: For more from Hither Duplessye Alan Drive. Listen live to

1980
01:40:33,960 --> 01:40:37,000
Speaker 1: news Talks it'd be from four pm weekdays, or follow

1981
01:40:37,040 --> 01:40:38,760
Speaker 1: the podcast on iHeartRadio