1
00:00:00,880 --> 00:00:03,480
Speaker 1: How is the economy shaving up? Who is raking in

2
00:00:03,480 --> 00:00:06,760
Speaker 1: the cash and who will be disappointed on the time

3
00:00:06,920 --> 00:00:10,200
Speaker 1: to crunch the numbers and find out how it affects you.

4
00:00:10,520 --> 00:00:14,000
Speaker 1: You you, It's head a duplicy Ellen Drive Live from

5
00:00:14,000 --> 00:00:17,680
Speaker 1: Parliament for Budget twenty twenty five with one New Zealand

6
00:00:18,040 --> 00:00:19,040
Speaker 1: used talks at BEHA.

7
00:00:22,760 --> 00:00:27,320
Speaker 2: This is a responsible budget to secure New Zealand's future.

8
00:00:27,720 --> 00:00:32,800
Speaker 2: It continues this government's investment in health, in education and

9
00:00:32,880 --> 00:00:33,560
Speaker 2: law and order.

10
00:00:33,680 --> 00:00:37,599
Speaker 3: This was a scramble without the lollies, a budget that

11
00:00:37,720 --> 00:00:40,720
Speaker 3: has scrambled the government's finances.

12
00:00:41,120 --> 00:00:45,920
Speaker 2: It contains savings of five point three billion dollars a year.

13
00:00:46,800 --> 00:00:50,000
Speaker 2: A significant portion of those savings come from changes to

14
00:00:50,040 --> 00:00:51,160
Speaker 2: the pay equity raging.

15
00:00:51,720 --> 00:00:54,760
Speaker 3: This is the budget that will be remembered as the

16
00:00:54,800 --> 00:00:59,319
Speaker 3: budget that left women out. This is the budget that's

17
00:00:59,360 --> 00:01:03,080
Speaker 3: said to work ki we woman, they are worth less.

18
00:01:03,840 --> 00:01:07,440
Speaker 4: It's a budget that, despite a very difficult international backdrop,

19
00:01:07,720 --> 00:01:10,880
Speaker 4: charts a responsible pathway back to a surplus. And it's

20
00:01:10,920 --> 00:01:14,600
Speaker 4: a budget about growth that is ambitious for New Zealand.

21
00:01:16,080 --> 00:01:18,360
Speaker 5: All right, good afternoon and welcome to the program coming

22
00:01:18,440 --> 00:01:20,240
Speaker 5: up today. We will have all of the reaction to

23
00:01:20,280 --> 00:01:22,120
Speaker 5: the budget for you, including, of course from the woman

24
00:01:22,120 --> 00:01:24,440
Speaker 5: who wrote it. That's Nichola Willis. She's with us after five,

25
00:01:24,520 --> 00:01:27,760
Speaker 5: Christine Rankin on taking the dole off teenagers, and former

26
00:01:27,840 --> 00:01:30,320
Speaker 5: RABBITO George Burgess, who's here for the run at event

27
00:01:30,440 --> 00:01:32,520
Speaker 5: on why does that these guys run at each other?

28
00:01:32,920 --> 00:01:34,440
Speaker 6: It's heller do for see Allen.

29
00:01:34,720 --> 00:01:36,080
Speaker 5: Look, I don't want to have to start the show

30
00:01:36,120 --> 00:01:38,120
Speaker 5: on a bum note. But if you share my view

31
00:01:38,160 --> 00:01:40,399
Speaker 5: that this country isn't a hot mess financially, then this

32
00:01:40,480 --> 00:01:42,920
Speaker 5: budget is underwhelming, I would say. Or you could say

33
00:01:42,920 --> 00:01:45,480
Speaker 5: it's disappointing, or you could say it doesn't go far enough.

34
00:01:45,480 --> 00:01:48,440
Speaker 5: You can pick your epithet. It's called the growth budget,

35
00:01:48,480 --> 00:01:50,200
Speaker 5: but I mean find the growth in it. For me,

36
00:01:50,280 --> 00:01:52,040
Speaker 5: there is no growth here. The only growth that we

37
00:01:52,080 --> 00:01:54,440
Speaker 5: can see is as the result of a tax incentive scheme,

38
00:01:54,440 --> 00:01:56,920
Speaker 5: which is a good idea but just doesn't go far enough.

39
00:01:57,240 --> 00:02:03,920
Speaker 5: It lifts GDP by get this one percent over twenty years.

40
00:02:04,400 --> 00:02:06,760
Speaker 5: So what is that when you split it twenty ways?

41
00:02:07,160 --> 00:02:09,600
Speaker 5: Is that growth or is it now just a rounding eerror?

42
00:02:09,919 --> 00:02:11,680
Speaker 5: In fact, the budget is full of this kind of thing.

43
00:02:11,720 --> 00:02:15,000
Speaker 5: It's good ideas, yeah, good ideas, but only half baked.

44
00:02:15,240 --> 00:02:17,680
Speaker 5: Cutting eighteen or nineteen year olds off the dollar, making

45
00:02:17,680 --> 00:02:20,639
Speaker 5: the parents take responsibility is a great idea, but it's

46
00:02:20,639 --> 00:02:23,160
Speaker 5: so full of loopholes. You can already see exactly how

47
00:02:23,160 --> 00:02:24,480
Speaker 5: these kids are going to get around the rules and

48
00:02:24,520 --> 00:02:26,639
Speaker 5: stay on the doll Cutting the government care, we save

49
00:02:26,680 --> 00:02:29,360
Speaker 5: a contribution to rich people, exactly what should happen, but

50
00:02:29,440 --> 00:02:32,320
Speaker 5: it should be cut to everyone. The gas exploration money

51
00:02:32,360 --> 00:02:34,520
Speaker 5: exactly what needs to happen. But it's tiny. I mean,

52
00:02:34,520 --> 00:02:36,560
Speaker 5: it's a couple of hundred million dollars in an industry

53
00:02:36,560 --> 00:02:40,360
Speaker 5: that talks in billions five billion dollars worth of savings

54
00:02:40,360 --> 00:02:42,480
Speaker 5: and cuts, which are small beer. That's the same amount

55
00:02:42,560 --> 00:02:45,160
Speaker 5: that we rack up five billion is the same amount

56
00:02:45,200 --> 00:02:47,440
Speaker 5: that we rack up in interest payments on our national

57
00:02:47,480 --> 00:02:50,600
Speaker 5: debt in just seven months. So if you were hoping

58
00:02:50,639 --> 00:02:54,280
Speaker 5: for something to turn the ship around, something that supercharges growth,

59
00:02:54,320 --> 00:02:56,680
Speaker 5: something that slash is spending or really gets us out

60
00:02:56,720 --> 00:02:59,120
Speaker 5: of this financial trouble that we're in, this is not it.

61
00:02:59,520 --> 00:03:01,680
Speaker 5: This is ab have good ideas that do not go

62
00:03:01,800 --> 00:03:02,400
Speaker 5: far enough.

63
00:03:02,840 --> 00:03:04,320
Speaker 6: Ever, Duplice Ellen.

64
00:03:04,320 --> 00:03:06,320
Speaker 5: Let's get our first response to the budget. We have

65
00:03:06,360 --> 00:03:08,480
Speaker 5: a labor leader Chris Hopkins and studio with me.

66
00:03:09,120 --> 00:03:09,839
Speaker 7: Hey, how are you going?

67
00:03:09,880 --> 00:03:10,040
Speaker 8: Hey?

68
00:03:10,040 --> 00:03:12,040
Speaker 9: Look it, make a note of the date and time.

69
00:03:12,080 --> 00:03:13,359
Speaker 9: There are a couple of things that you just said

70
00:03:13,360 --> 00:03:15,120
Speaker 9: that I agreed with here that okay, I don't think

71
00:03:15,160 --> 00:03:16,240
Speaker 9: that's ever happened before.

72
00:03:16,400 --> 00:03:17,800
Speaker 7: I think it was underwhelming.

73
00:03:17,840 --> 00:03:19,720
Speaker 9: If you're actually wanting a long term vision for the

74
00:03:19,720 --> 00:03:21,880
Speaker 9: future of the country, there's no question on that. You know,

75
00:03:22,120 --> 00:03:24,160
Speaker 9: parks a whole lot of the big challenges the country

76
00:03:24,160 --> 00:03:26,640
Speaker 9: faces further into the future. Some of the things you

77
00:03:26,639 --> 00:03:28,480
Speaker 9: said I didn't agree with, but you know I agreed

78
00:03:28,480 --> 00:03:28,880
Speaker 9: with you on.

79
00:03:28,840 --> 00:03:31,800
Speaker 5: That, okay, So what did you not agree with me on?

80
00:03:32,160 --> 00:03:33,720
Speaker 9: I mean, I think if you look at oil and guests,

81
00:03:33,800 --> 00:03:37,080
Speaker 9: for example, two hundred million dollars of oil and guess companies,

82
00:03:37,080 --> 00:03:38,840
Speaker 9: you're right in one respect, it is a small amount

83
00:03:38,880 --> 00:03:41,040
Speaker 9: of money relative to them. But it's also the government

84
00:03:41,080 --> 00:03:43,080
Speaker 9: taking on some of the risk for something that may

85
00:03:43,120 --> 00:03:45,920
Speaker 9: never actually eventuate. So it's a government saying, yeah, go drill,

86
00:03:46,040 --> 00:03:47,760
Speaker 9: we'll pay for it if nothing.

87
00:03:47,640 --> 00:03:50,240
Speaker 5: Advent or we'll pay for some of it's taken it.

88
00:03:50,280 --> 00:03:53,360
Speaker 9: But actually there's no guarante they're going to find anything.

89
00:03:53,400 --> 00:03:55,080
Speaker 9: You know, the last twenty years they've been looking. They

90
00:03:55,080 --> 00:03:59,680
Speaker 9: haven't found a commercially commercially developable find over the last

91
00:03:59,680 --> 00:04:02,400
Speaker 9: twenty years. So it's potentially the government just flushing twenty

92
00:04:02,440 --> 00:04:04,960
Speaker 9: million dollars down two hundred million dollars down the drain.

93
00:04:05,040 --> 00:04:07,320
Speaker 5: Perhaps, So it also ties your hands though, doesn't it.

94
00:04:07,320 --> 00:04:08,880
Speaker 5: I mean the reason they're having to do this is

95
00:04:08,920 --> 00:04:11,400
Speaker 5: because what this does is it ties your hands should you,

96
00:04:11,400 --> 00:04:13,920
Speaker 5: guys win an election substage in the future, you can't

97
00:04:13,960 --> 00:04:15,200
Speaker 5: get rid of the gas exploration.

98
00:04:15,880 --> 00:04:18,039
Speaker 9: Not necessarily. I mean we'll cross that bridge, will we

99
00:04:18,120 --> 00:04:19,680
Speaker 9: come to it. But I mean I think.

100
00:04:19,520 --> 00:04:21,480
Speaker 5: You're not going to flush that money down the toilet.

101
00:04:21,480 --> 00:04:27,000
Speaker 9: Hey, we've got an abundance of energy. Two, We certainly do,

102
00:04:27,080 --> 00:04:28,680
Speaker 9: and we have a lot of coal. Now, we've got

103
00:04:28,760 --> 00:04:30,880
Speaker 9: an abundance of renewable energy. One area where I do

104
00:04:30,960 --> 00:04:35,560
Speaker 9: agree with Shane Jones supercritical geothermal. So that's basically the

105
00:04:35,960 --> 00:04:38,400
Speaker 9: steam under the ground. We've got an abundance of that,

106
00:04:38,680 --> 00:04:40,719
Speaker 9: and if we can clock the technology on that, we're

107
00:04:40,800 --> 00:04:43,520
Speaker 9: sorted as a country. So actually, I think that frankly,

108
00:04:43,520 --> 00:04:45,200
Speaker 9: if I was putting two hundred million dollars into some

109
00:04:45,240 --> 00:04:47,240
Speaker 9: big bold energy thing, I probably put it into.

110
00:04:47,120 --> 00:04:48,120
Speaker 7: That, not a to oil and gas.

111
00:04:48,200 --> 00:04:50,640
Speaker 5: Okay, what did you make of taking the doll off teenagers?

112
00:04:51,120 --> 00:04:52,880
Speaker 9: Oh, it's basically saying that you're not an adult till

113
00:04:52,920 --> 00:04:55,120
Speaker 9: you're twenty. And is the government going to extend that

114
00:04:55,160 --> 00:04:58,360
Speaker 9: to everything. I've got to get into the detail of that, because,

115
00:04:58,360 --> 00:05:00,760
Speaker 9: for example, what does it mean for didn't kids who

116
00:05:00,920 --> 00:05:03,680
Speaker 9: have disabilities? For example, they now in that.

117
00:05:03,680 --> 00:05:05,640
Speaker 5: CAD's just jobs seek as an emergency.

118
00:05:05,760 --> 00:05:06,919
Speaker 7: Look, I haven't seen the detail.

119
00:05:07,040 --> 00:05:10,919
Speaker 9: So on the surface of it, saying to parents, you

120
00:05:10,960 --> 00:05:13,160
Speaker 9: know your kids are your kids. You know you're liable

121
00:05:13,200 --> 00:05:15,440
Speaker 9: to them until their twenties. That's a fairly high freehold.

122
00:05:15,520 --> 00:05:17,400
Speaker 5: Is that you don't have eighteen or nineteen year olds,

123
00:05:17,440 --> 00:05:19,039
Speaker 5: and we know kids like us. I know a kid

124
00:05:19,080 --> 00:05:21,800
Speaker 5: like this. We don't want them sitting and literally sitting

125
00:05:21,839 --> 00:05:24,360
Speaker 5: on the parents couch playing the PlayStation, sitting on the doll.

126
00:05:24,560 --> 00:05:26,160
Speaker 5: We want to give them the best chance in life,

127
00:05:26,360 --> 00:05:27,920
Speaker 5: go out, study, get a job, waterever.

128
00:05:28,200 --> 00:05:30,159
Speaker 9: I think getting them into things like apprenticeships is a

129
00:05:30,200 --> 00:05:32,279
Speaker 9: much better course of action. You know, the apprenticeship boosts

130
00:05:32,279 --> 00:05:34,320
Speaker 9: which the government come in half in last year's budget,

131
00:05:34,520 --> 00:05:36,560
Speaker 9: was actually doing quite a good job of getting kids

132
00:05:36,600 --> 00:05:37,360
Speaker 9: into apprenticeships.

133
00:05:37,520 --> 00:05:39,359
Speaker 5: But is there anything wrong with an incentive, like the

134
00:05:39,360 --> 00:05:41,320
Speaker 5: carrot and the stick. This is the stick, then you

135
00:05:41,320 --> 00:05:41,920
Speaker 5: have the carrot.

136
00:05:42,040 --> 00:05:45,599
Speaker 9: Well, I mean, I think the carrot is good. The

137
00:05:45,640 --> 00:05:47,400
Speaker 9: stick when there aren't jobs for them to go into

138
00:05:47,480 --> 00:05:50,400
Speaker 9: is a bit problematic. So beating kids for not going

139
00:05:50,440 --> 00:05:54,000
Speaker 9: into jobs that aren't scared go study is a bit problematic.

140
00:05:54,160 --> 00:05:55,840
Speaker 5: Go study something for a couple of years that's at

141
00:05:55,920 --> 00:05:56,920
Speaker 5: least worthwhile, isn't it.

142
00:05:57,160 --> 00:05:59,200
Speaker 7: Look i'd love to see more kids going into tertiary study.

143
00:05:59,240 --> 00:05:59,840
Speaker 7: In fact, they are.

144
00:06:00,040 --> 00:06:02,680
Speaker 9: You know, we're seeing in roading, we're seeing enrollment numbers

145
00:06:02,720 --> 00:06:05,839
Speaker 9: going up. I'm saying I wouldn't necessarily have done what

146
00:06:05,839 --> 00:06:09,760
Speaker 9: they've done, but you know, I do worry about needs.

147
00:06:09,960 --> 00:06:12,799
Speaker 9: So the nets are there, not an education, employment or training.

148
00:06:13,000 --> 00:06:14,719
Speaker 9: I do worry about the number of them, and it's

149
00:06:14,720 --> 00:06:18,760
Speaker 9: been steadily growing over several decades, so under multiple governments,

150
00:06:18,800 --> 00:06:21,240
Speaker 9: that number has been growing. And that is it is

151
00:06:21,279 --> 00:06:23,480
Speaker 9: one of those big long term problems that the governments

152
00:06:23,520 --> 00:06:24,559
Speaker 9: still aren't doing much about.

153
00:06:24,800 --> 00:06:25,960
Speaker 5: Right, do you want to have a go at pay

154
00:06:26,000 --> 00:06:28,599
Speaker 5: equity because I know that's the thing that's been winding

155
00:06:28,640 --> 00:06:29,240
Speaker 5: you up the most.

156
00:06:29,360 --> 00:06:31,520
Speaker 9: Of course it is it's basically saying to New Zealand women,

157
00:06:31,760 --> 00:06:34,359
Speaker 9: you have to settle for being paid less so the

158
00:06:34,400 --> 00:06:35,800
Speaker 9: government can balance its books.

159
00:06:35,800 --> 00:06:36,760
Speaker 7: And I don't think that's right.

160
00:06:37,040 --> 00:06:37,640
Speaker 6: Or is it just.

161
00:06:37,680 --> 00:06:39,960
Speaker 5: Saying that that particular scheme wasn't working or we've got

162
00:06:40,000 --> 00:06:40,720
Speaker 5: to do it a little bit better.

163
00:06:40,800 --> 00:06:42,719
Speaker 9: Well, the particular scheme worked very well for the half

164
00:06:42,960 --> 00:06:44,560
Speaker 9: roughly half of the pay when he claims there was

165
00:06:44,520 --> 00:06:45,400
Speaker 9: a rental, very.

166
00:06:45,279 --> 00:06:48,440
Speaker 5: Well for the old taxpayer though, was it? Well, ultimately,

167
00:06:48,800 --> 00:06:50,960
Speaker 5: how much did they save should be? Was it thirteen billions?

168
00:06:50,960 --> 00:06:51,800
Speaker 5: That's enormous.

169
00:06:51,880 --> 00:06:53,640
Speaker 9: But do you think that we should balance the government's

170
00:06:53,640 --> 00:06:55,640
Speaker 9: books by saying to women you should settle for being

171
00:06:55,680 --> 00:06:56,560
Speaker 9: paid less than men.

172
00:06:57,000 --> 00:06:58,360
Speaker 7: I mean, I don't think that's right.

173
00:06:58,440 --> 00:07:01,159
Speaker 5: Oh well, it depends. I mean you know that this

174
00:07:01,200 --> 00:07:03,680
Speaker 5: actually comes down to which men were comparing ourselves with, right,

175
00:07:03,680 --> 00:07:05,760
Speaker 5: because I'd love to be compared with an orthopedic surgeon.

176
00:07:05,760 --> 00:07:06,640
Speaker 5: But it's not realistic.

177
00:07:07,000 --> 00:07:10,559
Speaker 9: And well no, because it's not that simplistic, because actually

178
00:07:10,560 --> 00:07:12,680
Speaker 9: you still have to prove that the work that's being

179
00:07:12,720 --> 00:07:15,480
Speaker 9: done by the male dominated workforces of a similar or

180
00:07:15,480 --> 00:07:19,960
Speaker 9: equal value. So the process is actually quite a complicated one.

181
00:07:20,000 --> 00:07:21,480
Speaker 9: It's not you don't just pluck figures out of in

182
00:07:21,520 --> 00:07:23,160
Speaker 9: there and go, look, I'm a I'm going to compare

183
00:07:23,160 --> 00:07:25,960
Speaker 9: myself to an astronaut. You have to demonstrate that the

184
00:07:25,960 --> 00:07:29,280
Speaker 9: astronaut's actually doing work that's of similar value to the

185
00:07:29,320 --> 00:07:31,520
Speaker 9: work that you're doing, even if the field that they're

186
00:07:31,560 --> 00:07:32,400
Speaker 9: working in is different.

187
00:07:32,440 --> 00:07:34,280
Speaker 5: Shall we play this game? What have you called the budget?

188
00:07:34,760 --> 00:07:37,080
Speaker 7: Ah? Look, I haven't quite landed a lot of title yet.

189
00:07:37,120 --> 00:07:39,360
Speaker 9: I mean the worthless budget, because actually, if you think

190
00:07:39,360 --> 00:07:41,520
Speaker 9: about it, it's saying to women that they are worthless.

191
00:07:41,600 --> 00:07:43,720
Speaker 9: It's saying to all working New Zealand as your KI

192
00:07:43,760 --> 00:07:46,000
Speaker 9: saver when you reach retirement is going to be worthless

193
00:07:46,280 --> 00:07:47,080
Speaker 9: because let's say.

194
00:07:47,160 --> 00:07:49,200
Speaker 5: We workshopping this right now on your Yeah, thing is good,

195
00:07:49,480 --> 00:07:49,880
Speaker 5: you can.

196
00:07:49,720 --> 00:07:53,000
Speaker 9: Contribute, feel free to contribute. But you know, like kiwisaver.

197
00:07:53,160 --> 00:07:54,960
Speaker 9: If you're an eighteen year old on the minimum wage,

198
00:07:55,040 --> 00:07:58,080
Speaker 9: sixty over sixty thousand dollars has just disappeared from your

199
00:07:58,080 --> 00:08:00,000
Speaker 9: retirement savings because of the changes the government.

200
00:08:00,320 --> 00:08:02,360
Speaker 7: We've taken that government contribution.

201
00:08:01,960 --> 00:08:02,800
Speaker 5: Outs taken out.

202
00:08:02,880 --> 00:08:05,920
Speaker 9: Yeah, but ultimately, you know, if we want people to

203
00:08:05,920 --> 00:08:08,040
Speaker 9: have a decent standard of retirement, we've got to make sure.

204
00:08:07,920 --> 00:08:11,000
Speaker 5: That people have decent retirements, saving pension. We're already doing that.

205
00:08:11,080 --> 00:08:12,280
Speaker 5: How much more do you want us to do?

206
00:08:12,720 --> 00:08:16,800
Speaker 9: I think increasing contributions to kipisaver good, so agree with

207
00:08:16,840 --> 00:08:19,920
Speaker 9: the government on that, But cutting the government contribution ultimately

208
00:08:19,960 --> 00:08:21,680
Speaker 9: then cancels out the benefit of that. So it's saying

209
00:08:21,760 --> 00:08:23,480
Speaker 9: we're going to the government's going to take money away

210
00:08:23,480 --> 00:08:25,640
Speaker 9: from you, and oh, by the way, well you're going

211
00:08:25,720 --> 00:08:27,800
Speaker 9: to compensate by saving more of your own money.

212
00:08:27,880 --> 00:08:31,400
Speaker 5: Yes, that's generally how savings work. Shippy. It's good to

213
00:08:31,400 --> 00:08:33,200
Speaker 5: have you and thank you for coming in. Chris Hopkins,

214
00:08:33,520 --> 00:08:35,640
Speaker 5: Labor Party leader. Right now, it's quarter past four.

215
00:08:36,920 --> 00:08:40,200
Speaker 1: It's the Heather d Pussy Alan Drive Full Show podcast

216
00:08:40,320 --> 00:08:43,080
Speaker 1: on iHeartRadio powered by News Talk z B.

217
00:08:44,200 --> 00:08:47,040
Speaker 5: Right, Darcy water Grave sports talk hosters with that Darcy, Hello,

218
00:08:47,240 --> 00:08:50,600
Speaker 5: you may you good? So you've got Scott Dixon on

219
00:08:50,640 --> 00:08:51,200
Speaker 5: the show, have you?

220
00:08:51,880 --> 00:08:56,240
Speaker 10: Yeah, it's fanboy Central. I'm unashamed of this. What a

221
00:08:56,280 --> 00:09:00,240
Speaker 10: tremendous individual, what an amazing driver, what enormous success. He's

222
00:09:00,280 --> 00:09:03,320
Speaker 10: such a good interview, he really is. He must get

223
00:09:03,360 --> 00:09:05,559
Speaker 10: tired of the same questions over and over again. But

224
00:09:05,679 --> 00:09:10,000
Speaker 10: me listens, he contributes, He expands on the interview here

225
00:09:10,040 --> 00:09:12,160
Speaker 10: he is about to hit the ground running and what

226
00:09:12,280 --> 00:09:16,080
Speaker 10: twenty third or twenty fourth Indianapolis. I've lost count, it's

227
00:09:16,120 --> 00:09:20,720
Speaker 10: been over two decades, madness, madness.

228
00:09:19,960 --> 00:09:21,920
Speaker 5: All right, well he'll be on after seven then, and

229
00:09:21,920 --> 00:09:24,520
Speaker 5: what have you got with the Black Ferns.

230
00:09:24,720 --> 00:09:27,520
Speaker 10: Yeah, we'll push him later on the piece because a

231
00:09:27,520 --> 00:09:29,199
Speaker 10: bit of length, so it'd probably.

232
00:09:28,880 --> 00:09:30,720
Speaker 5: Be around about twenty to eight.

233
00:09:30,800 --> 00:09:34,880
Speaker 10: I'd say before you hear that, we're talking a bit

234
00:09:34,920 --> 00:09:39,400
Speaker 10: of AKFC before that with Jonathan Gold, the goalkeeping coach,

235
00:09:39,440 --> 00:09:43,480
Speaker 10: really instant people's action and dramas around that. What their

236
00:09:43,559 --> 00:09:46,920
Speaker 10: narrative is huge game coming up on Saturday year and

237
00:09:46,960 --> 00:09:51,240
Speaker 10: the Black Ferns. It's been released, so we know for

238
00:09:51,280 --> 00:09:54,440
Speaker 10: this upcoming match who they're going to be using. And

239
00:09:54,480 --> 00:09:57,719
Speaker 10: there's a handful of SEVENS players in there. There's a

240
00:09:57,800 --> 00:10:00,800
Speaker 10: couple of newbies in there. And the gre around this

241
00:10:01,400 --> 00:10:04,240
Speaker 10: is that ahead of the releasing of the World Cup

242
00:10:04,360 --> 00:10:07,080
Speaker 10: squad and I haven't put my finger on an absolute date yet,

243
00:10:07,120 --> 00:10:10,600
Speaker 10: I'll find it somewhere, I'm sure is they're they're utilizing

244
00:10:10,679 --> 00:10:13,679
Speaker 10: a lot of players, so they're they're circling a lot

245
00:10:13,720 --> 00:10:16,080
Speaker 10: of SEVENS players have turned up a lot of couples

246
00:10:16,080 --> 00:10:18,680
Speaker 10: before debutants in the side. So everyone's get a chance

247
00:10:18,720 --> 00:10:23,480
Speaker 10: to impress themselves upon Alan Bunting the coach, bunts the

248
00:10:23,520 --> 00:10:26,120
Speaker 10: coach before they make that call. So I think the

249
00:10:26,120 --> 00:10:29,080
Speaker 10: big ones who are looking at is Recippury Lane has

250
00:10:29,080 --> 00:10:32,120
Speaker 10: been given a chance. Georgia Miller is a rock star

251
00:10:32,200 --> 00:10:36,440
Speaker 10: and sevens well worth watching. She's got a crap crack crap,

252
00:10:38,280 --> 00:10:42,760
Speaker 10: got a crack as well live radio that it's all good. Hey,

253
00:10:42,800 --> 00:10:45,120
Speaker 10: did they did the budget give sport anything on an

254
00:10:45,120 --> 00:10:45,559
Speaker 10: old night?

255
00:10:45,960 --> 00:10:49,360
Speaker 5: There's no money for anything, No money for sport, no

256
00:10:49,800 --> 00:10:53,040
Speaker 5: money for anything at all. No, not really, especially not

257
00:10:53,120 --> 00:10:55,960
Speaker 5: if you're a woman. Apparently, Hey, Darcy, thank you appreciate it.

258
00:10:56,000 --> 00:10:58,160
Speaker 5: You go look after yourself as Starcy Watergrave sports talk

259
00:10:58,160 --> 00:11:02,600
Speaker 5: host seven o'clock, not a woman seven o'clock here almost

260
00:11:02,840 --> 00:11:05,079
Speaker 5: sent me. I mean obviously when I say that, I

261
00:11:05,160 --> 00:11:07,000
Speaker 5: say tongue in cheek because I don't actually care about it.

262
00:11:07,000 --> 00:11:09,120
Speaker 5: But on that subject, by the way, Darcy, off you

263
00:11:09,160 --> 00:11:11,439
Speaker 5: go by now, thanks very much. So Darcy will be

264
00:11:11,480 --> 00:11:12,960
Speaker 5: back at seven. I just want to remind Darcy that

265
00:11:12,960 --> 00:11:16,120
Speaker 5: he'll be back at seven as not now pay equity.

266
00:11:16,160 --> 00:11:17,560
Speaker 5: So this is the big number we were looking for.

267
00:11:17,600 --> 00:11:20,240
Speaker 5: How much did the pay equity rejig of the system save?

268
00:11:20,679 --> 00:11:23,160
Speaker 5: Turns out its twelve point eight billion dollars. So I

269
00:11:23,240 --> 00:11:25,040
Speaker 5: wasn't far wrong. Remember I was telling you i'd heard

270
00:11:25,080 --> 00:11:27,760
Speaker 5: it was more than ten billion. Here we go thirteen

271
00:11:27,840 --> 00:11:31,120
Speaker 5: basically now the reason that this thing has had to

272
00:11:31,160 --> 00:11:33,480
Speaker 5: be rejigged, and I think, I think this is the

273
00:11:33,480 --> 00:11:35,640
Speaker 5: evidence that you can you can look at and you

274
00:11:35,640 --> 00:11:38,880
Speaker 5: can say, yep, absolutely the system wasn't working. When the

275
00:11:38,880 --> 00:11:42,080
Speaker 5: pay equity claims were first set up. It was expected

276
00:11:42,080 --> 00:11:45,520
Speaker 5: to only cost about three point seven billion dollars, but

277
00:11:45,640 --> 00:11:49,760
Speaker 5: it has blown out. Now to what extent has blown out,

278
00:11:49,800 --> 00:11:52,480
Speaker 5: we don't know, because what's happened is the money has

279
00:11:52,480 --> 00:11:54,800
Speaker 5: been split into two. Right, So the government has taken

280
00:11:54,840 --> 00:11:57,600
Speaker 5: some money and put aside and said we can't tell

281
00:11:57,640 --> 00:11:59,319
Speaker 5: you how much money there is because that has been

282
00:11:59,400 --> 00:12:01,880
Speaker 5: ringfect and four pay could he claims. And if they

283
00:12:01,920 --> 00:12:03,400
Speaker 5: tell us what it is, then everybody's going to know

284
00:12:03,400 --> 00:12:05,360
Speaker 5: how much is available and how much women you know,

285
00:12:05,440 --> 00:12:08,160
Speaker 5: these these claims can go for. But what they've managed

286
00:12:08,200 --> 00:12:10,520
Speaker 5: to do is save a whole bunch of it, and

287
00:12:10,559 --> 00:12:12,360
Speaker 5: that is twelve point eight billion dollars, so you can

288
00:12:12,360 --> 00:12:17,480
Speaker 5: imagine it's blown out by multiple factors. Anyway, you're not

289
00:12:17,520 --> 00:12:20,800
Speaker 5: loving Chippy. Oh hold fire, Chippy, you had your chance.

290
00:12:20,840 --> 00:12:23,000
Speaker 5: You just kept borrowing and borrowing and screwed our country

291
00:12:23,000 --> 00:12:25,400
Speaker 5: and pretty much nearly bankrupted us. Quite a few text

292
00:12:25,440 --> 00:12:27,360
Speaker 5: saying the reason that we're in the situation we're in

293
00:12:27,559 --> 00:12:30,040
Speaker 5: is because of Chippy and his lot. Four twenty two.

294
00:12:31,240 --> 00:12:33,960
Speaker 6: Does the budget will us to spend or save?

295
00:12:34,600 --> 00:12:37,840
Speaker 1: Budget twenty twenty five on Hither du plus Ellen Dry

296
00:12:38,040 --> 00:12:41,440
Speaker 1: Live from Parliament with One New Zealand Let's get connected

297
00:12:41,720 --> 00:12:42,320
Speaker 1: news Talk.

298
00:12:42,240 --> 00:12:43,280
Speaker 6: Sat be Heather.

299
00:12:43,360 --> 00:12:45,559
Speaker 5: Why are eighteen year old kids on the bennie? That's

300
00:12:45,600 --> 00:12:47,960
Speaker 5: a very good question. Actually, why are eighteen year old

301
00:12:48,040 --> 00:12:49,600
Speaker 5: kids on the benny? And because you can go and

302
00:12:49,640 --> 00:12:51,480
Speaker 5: study like that's the best part of your life, isn't it?

303
00:12:51,600 --> 00:12:53,360
Speaker 5: The world is your oyster sitting there on the dole

304
00:12:53,400 --> 00:12:57,040
Speaker 5: playing the PlayStation. This is one of my two favorite

305
00:12:57,040 --> 00:12:59,719
Speaker 5: things in the budget, getting the eighteen year olds in

306
00:12:59,720 --> 00:13:01,360
Speaker 5: the nine ten year olds off the bennie. The only

307
00:13:01,440 --> 00:13:05,520
Speaker 5: problem with this is that there are some obvious loopholes here,

308
00:13:05,559 --> 00:13:08,440
Speaker 5: so basically kids will be taken off the doll and

309
00:13:08,480 --> 00:13:11,280
Speaker 5: the parents will be expected to step up, but they

310
00:13:11,320 --> 00:13:13,160
Speaker 5: will not be taken off the doll if they are

311
00:13:13,240 --> 00:13:16,440
Speaker 5: married or in a civil union or in a de

312
00:13:16,520 --> 00:13:18,920
Speaker 5: facto relationship. So all they're going to do is move

313
00:13:18,920 --> 00:13:21,040
Speaker 5: in with a girlfriend, aren't they That's what they're going

314
00:13:21,080 --> 00:13:22,480
Speaker 5: to do. They're gonna have the girlfriend move in, or

315
00:13:22,480 --> 00:13:24,720
Speaker 5: they're going to move in with the girlfriend. Because please

316
00:13:24,880 --> 00:13:27,080
Speaker 5: be aware that there are parents out there who do

317
00:13:27,160 --> 00:13:29,800
Speaker 5: not see a problem with this situation, and so off

318
00:13:29,840 --> 00:13:31,559
Speaker 5: they'll go on and just carry on getting the doll. Anyway.

319
00:13:31,600 --> 00:13:33,320
Speaker 5: We'll talk to Nicola Willis about it when she's with

320
00:13:33,440 --> 00:13:36,600
Speaker 5: us just after five o'clock. By the way, it's five

321
00:13:36,720 --> 00:13:39,440
Speaker 5: twenty five, four twenty five. When we were in the

322
00:13:39,440 --> 00:13:41,240
Speaker 5: budget lock up today, what we did is we thought

323
00:13:41,559 --> 00:13:43,000
Speaker 5: we'll get you a bit of a taste of what

324
00:13:43,040 --> 00:13:46,120
Speaker 5: everybody else is thinking. So if we ask the analysts

325
00:13:46,160 --> 00:13:48,360
Speaker 5: and the economists and everybody else who was there, how

326
00:13:48,400 --> 00:13:50,599
Speaker 5: they would describe this year's big announcement.

327
00:13:51,200 --> 00:13:51,960
Speaker 6: I'm Jordan Williams.

328
00:13:51,960 --> 00:13:54,360
Speaker 1: I'm the executive director of the Taxpayers Union. From the

329
00:13:54,360 --> 00:13:56,680
Speaker 1: budget lock up, this is the budget budget, certainly not

330
00:13:56,720 --> 00:13:57,480
Speaker 1: a growth budget.

331
00:13:57,640 --> 00:14:00,680
Speaker 11: Jane Tipshereni in New Zealand Herold Wellington Business Editor.

332
00:14:00,880 --> 00:14:01,960
Speaker 12: This is a true.

333
00:14:01,640 --> 00:14:05,520
Speaker 10: Blue budget, one that requires people to pay their own

334
00:14:05,559 --> 00:14:07,640
Speaker 10: way more than would be the case under a left

335
00:14:07,679 --> 00:14:08,320
Speaker 10: leaning government.

336
00:14:08,520 --> 00:14:13,040
Speaker 7: Michael Riddell, economic commentator. I mean this is a budget

337
00:14:13,080 --> 00:14:14,760
Speaker 7: that is deeply underwhelming.

338
00:14:15,000 --> 00:14:17,600
Speaker 6: Alan McDonald, head of ADWA c at the EMA. It's

339
00:14:17,679 --> 00:14:19,160
Speaker 6: kind of like a soup bone budget.

340
00:14:19,200 --> 00:14:21,080
Speaker 1: There's a lot of bone and a little bit of

341
00:14:21,120 --> 00:14:22,120
Speaker 1: meat that you cannaw off.

342
00:14:22,120 --> 00:14:25,280
Speaker 5: The end came a bergery Managing director Biger Economics.

343
00:14:25,520 --> 00:14:26,880
Speaker 13: Interesting budget today.

344
00:14:26,760 --> 00:14:29,520
Speaker 14: Was a question of your Peter versus Paul and Pauline

345
00:14:29,560 --> 00:14:30,240
Speaker 14: versus polling.

346
00:14:30,240 --> 00:14:33,000
Speaker 15: Doctor R Crampton, chief economist with the New Zealand Initiative.

347
00:14:33,280 --> 00:14:34,120
Speaker 6: I would call.

348
00:14:34,040 --> 00:14:37,440
Speaker 11: This the structural datathets through twenty twenty nine budget.

349
00:14:37,480 --> 00:14:39,720
Speaker 16: I'm Brad Olson from Metrics and I call this the

350
00:14:39,760 --> 00:14:40,600
Speaker 16: switch at budget.

351
00:14:40,640 --> 00:14:41,520
Speaker 5: My name is Craig Ready.

352
00:14:41,560 --> 00:14:43,760
Speaker 17: I'm the economist and director of Policy for the New

353
00:14:43,840 --> 00:14:46,520
Speaker 17: Zealand Council of Tard Unions and I call this the

354
00:14:46,560 --> 00:14:47,760
Speaker 17: highway robbery budget.

355
00:14:47,920 --> 00:14:51,880
Speaker 4: Stuart Nash, Commercial Director, Robert Welters Business is usual and

356
00:14:51,960 --> 00:14:52,960
Speaker 4: broken times budget.

357
00:14:54,280 --> 00:14:57,520
Speaker 5: You know what, I don't think Eric Crampton's title is

358
00:14:57,560 --> 00:15:00,920
Speaker 5: going to fly. What do you think this stractoral defits

359
00:15:00,960 --> 00:15:03,600
Speaker 5: through deficits through twenty twenty nine budgets?

360
00:15:03,640 --> 00:15:05,080
Speaker 11: Just would you even fit it on the front page

361
00:15:05,080 --> 00:15:05,640
Speaker 11: of the budget here?

362
00:15:05,640 --> 00:15:06,160
Speaker 7: They're probably not.

363
00:15:06,200 --> 00:15:08,560
Speaker 5: No, no, probably, And especially because you've got to write

364
00:15:08,600 --> 00:15:10,400
Speaker 5: in that big writing for people to know that it's

365
00:15:10,440 --> 00:15:11,920
Speaker 5: the front cover, you'd have to sort of have like

366
00:15:12,040 --> 00:15:15,120
Speaker 5: four you'd have to. Sometimes in kiddies books they do

367
00:15:15,160 --> 00:15:16,920
Speaker 5: this thing where they have like a full page thing

368
00:15:16,960 --> 00:15:19,760
Speaker 5: that like folds out. You could do one of those ones.

369
00:15:20,440 --> 00:15:35,360
Speaker 5: Absolutely anyway, Murrayold's with us very shortly. Headlines are neats.

370
00:15:30,720 --> 00:15:34,640
Speaker 1: Quite who are the winners and who's making do with

371
00:15:34,720 --> 00:15:37,840
Speaker 1: what they've got? Budget twenty twenty five on hither do

372
00:15:38,000 --> 00:15:41,440
Speaker 1: Plice Ellen Dry live from Parliament with one New Zealand

373
00:15:41,560 --> 00:15:43,680
Speaker 1: let's get connected news talks that'd be.

374
00:15:45,280 --> 00:15:50,680
Speaker 5: Seeing Nikola will listen to us. After five o'clock Murrayolds

375
00:15:50,760 --> 00:15:53,120
Speaker 5: is standing by out of Australia. I cannot believe this.

376
00:15:54,280 --> 00:15:57,680
Speaker 5: Guess who is not in the House for the budget today?

377
00:15:58,840 --> 00:16:04,840
Speaker 5: Guess that's that's right. Raori and Debbie oh Rawi and Debbie,

378
00:16:05,040 --> 00:16:08,120
Speaker 5: the very two who we were crying gigantic tears about

379
00:16:08,160 --> 00:16:10,760
Speaker 5: and saying Oh, it's their democratic right. Oh, you can't

380
00:16:10,840 --> 00:16:13,640
Speaker 5: kick them out before the budget. Oh, you can't possibly

381
00:16:13,680 --> 00:16:16,600
Speaker 5: suspend them for all of their misbehavior. They've got to

382
00:16:16,680 --> 00:16:18,880
Speaker 5: be here. They've got to be able to talk to

383
00:16:18,920 --> 00:16:20,920
Speaker 5: the budget. When things kicked off at two o'clock, over

384
00:16:20,920 --> 00:16:23,320
Speaker 5: was sitting. It was cowboy hat sitting. There was old

385
00:16:23,720 --> 00:16:27,960
Speaker 5: Shaikivara beret sitting there. Nah, missing left a test. So

386
00:16:28,800 --> 00:16:33,280
Speaker 5: listen to everybody, everybody who talks on their behalf and says, oh,

387
00:16:33,320 --> 00:16:35,320
Speaker 5: we've got to look after them. They just gave you

388
00:16:35,360 --> 00:16:38,200
Speaker 5: the middle finger. Stop defending them. Twenty four away from five.

389
00:16:38,560 --> 00:16:41,840
Speaker 1: It's the world wires on news talks edby drive.

390
00:16:42,280 --> 00:16:44,800
Speaker 5: So the New South Wales flooding has turned deadly. One

391
00:16:44,840 --> 00:16:47,200
Speaker 5: person has died, five are missing in the floods and

392
00:16:47,280 --> 00:16:49,480
Speaker 5: New South Wales fifty thousand people living in the mid

393
00:16:49,480 --> 00:16:51,920
Speaker 5: North coast have been told to evacuate. And this woman's

394
00:16:51,920 --> 00:16:52,680
Speaker 5: house is flooded.

395
00:16:52,880 --> 00:16:54,480
Speaker 6: The water has dropped a little.

396
00:16:54,960 --> 00:16:57,280
Speaker 5: That being said, it's still well well above the.

397
00:16:57,240 --> 00:17:01,200
Speaker 15: Twenty twenty one major flood that we had and it's

398
00:17:01,200 --> 00:17:01,760
Speaker 15: still rainy.

399
00:17:02,680 --> 00:17:06,480
Speaker 5: South African President Cyril Ramoposa says today's meeting with President

400
00:17:06,480 --> 00:17:09,800
Speaker 5: Trump was a success. Trumpy and Ramoposa had an argument

401
00:17:09,840 --> 00:17:12,200
Speaker 5: in the Oval office about whether white South African farmers

402
00:17:12,200 --> 00:17:13,600
Speaker 5: are suffering from a genocide and.

403
00:17:13,600 --> 00:17:16,280
Speaker 15: When they killed the white farmer, nothing happens to that.

404
00:17:16,640 --> 00:17:19,159
Speaker 6: No, there is nothing happens that.

405
00:17:19,320 --> 00:17:20,880
Speaker 18: Is criminality in our country.

406
00:17:22,359 --> 00:17:28,080
Speaker 19: People who do get killed, unfortunately through criminal activity.

407
00:17:28,080 --> 00:17:31,200
Speaker 18: Are not only a white people, majority of them are

408
00:17:31,240 --> 00:17:31,879
Speaker 18: black people.

409
00:17:32,720 --> 00:17:35,280
Speaker 5: Ramoposa said after the meeting that there was no genocide

410
00:17:35,320 --> 00:17:37,520
Speaker 5: in South Africa and he expects Trump will attend the

411
00:17:37,560 --> 00:17:40,440
Speaker 5: G twenty meeting in joe Burg later this year. And finally,

412
00:17:44,200 --> 00:17:46,480
Speaker 5: a mysterious beam of light has been seen in the

413
00:17:46,560 --> 00:17:49,399
Speaker 5: night sky over Arizona. People online have speculated that it

414
00:17:49,440 --> 00:17:52,760
Speaker 5: might have been caused by energized particles in the atmosphere

415
00:17:52,840 --> 00:17:57,600
Speaker 5: or maybe and most obviously aliens, but an astronomer says

416
00:17:57,600 --> 00:17:59,280
Speaker 5: that the light probably had something to do with the

417
00:17:59,359 --> 00:18:02,480
Speaker 5: Chinese rock that was deploying satellites in orbits, So I

418
00:18:02,480 --> 00:18:04,760
Speaker 5: think we can probably rule out the aliens theories.

419
00:18:04,800 --> 00:18:08,879
Speaker 1: The International Correspondence with Ends and Eye Insurance, Peace of

420
00:18:08,920 --> 00:18:10,320
Speaker 1: mind for New Zealand business.

421
00:18:11,320 --> 00:18:15,040
Speaker 5: The Murray Old Ossie corresponders with Ushmas good here.

422
00:18:15,040 --> 00:18:16,040
Speaker 8: They're going to appen into you.

423
00:18:16,200 --> 00:18:18,080
Speaker 5: Hey, So what's the latest with these floods?

424
00:18:18,520 --> 00:18:18,720
Speaker 1: Oh?

425
00:18:18,760 --> 00:18:21,560
Speaker 8: Look, bloody terrible to be to be quite frank, I

426
00:18:21,560 --> 00:18:26,960
Speaker 8: mean in now, I just what's the name of the town?

427
00:18:27,440 --> 00:18:31,159
Speaker 8: Nineteen twenty nine was the flood record? Nineteen hundred and

428
00:18:31,200 --> 00:18:33,800
Speaker 8: twenty nine has been exceeded in the last twenty four hours.

429
00:18:34,320 --> 00:18:37,040
Speaker 8: As you said there in the intro, one dead, five missing,

430
00:18:37,920 --> 00:18:41,199
Speaker 8: and fifty thousand people evacuated from homes and businesses. The

431
00:18:41,320 --> 00:18:44,600
Speaker 8: rain has not stopped. It's the worst flooding, as I said,

432
00:18:44,640 --> 00:18:47,800
Speaker 8: in almost one hundred years. Now Here's the thing. These

433
00:18:47,840 --> 00:18:52,280
Speaker 8: people that are missing may not be in fact casualties

434
00:18:52,320 --> 00:18:55,199
Speaker 8: of this. They may be on these isolated properties. And

435
00:18:55,240 --> 00:18:59,960
Speaker 8: there are scores of farm properties, even entire small town

436
00:19:00,440 --> 00:19:03,680
Speaker 8: that have been basically cut off. More than one hundred

437
00:19:03,760 --> 00:19:07,680
Speaker 8: emergency warnings that have been scores of emergency flood rescues

438
00:19:07,720 --> 00:19:12,000
Speaker 8: from absolute bloody clowns who have been driving through flooded

439
00:19:12,119 --> 00:19:14,119
Speaker 8: roads and guess what happens. The cars stop and they

440
00:19:14,119 --> 00:19:17,760
Speaker 8: get washed away. So they are idiots. The state governments

441
00:19:17,800 --> 00:19:21,520
Speaker 8: called in for federal government help to try and get

442
00:19:21,520 --> 00:19:24,080
Speaker 8: some assistant to these people. The army's being deployed in

443
00:19:24,119 --> 00:19:26,520
Speaker 8: some parts, but some people who are cut off are

444
00:19:26,640 --> 00:19:30,000
Speaker 8: likely to be in that position for quite some days.

445
00:19:30,040 --> 00:19:32,480
Speaker 8: How much longer will the rain's going to keep on going?

446
00:19:32,520 --> 00:19:36,080
Speaker 8: At least till the weekend? Some centers, are you sitting down?

447
00:19:36,240 --> 00:19:39,080
Speaker 8: They've had half a meter of rain? Half a meter

448
00:19:39,200 --> 00:19:41,960
Speaker 8: of rain in seventy two hours, man.

449
00:19:42,040 --> 00:19:46,240
Speaker 5: Lives, Yeah totally. Is hey? So Susan lay Lee rather

450
00:19:46,359 --> 00:19:48,400
Speaker 5: is she trying to patch things up with the Nationals?

451
00:19:48,920 --> 00:19:50,679
Speaker 8: I think it's the other way around, to be honest,

452
00:19:51,680 --> 00:19:54,840
Speaker 8: Susan Lee. Look that they may have kissed and made

453
00:19:54,880 --> 00:19:57,160
Speaker 8: up in the last few minutes. I know that Susan Lee,

454
00:19:58,280 --> 00:20:01,760
Speaker 8: she agreed to hold off name her shadow cabinet. Let's

455
00:20:01,760 --> 00:20:04,920
Speaker 8: make no mistake here. The National's Party is the junior

456
00:20:05,040 --> 00:20:09,199
Speaker 8: coalition partner, always has been, always will be. But they

457
00:20:09,240 --> 00:20:12,800
Speaker 8: went into the talks after the election shellacking and David

458
00:20:12,800 --> 00:20:15,959
Speaker 8: little Proud said, oh, look, we need cast iron guarantees

459
00:20:16,000 --> 00:20:19,359
Speaker 8: on four policies. Oh and by the way, any Nationals

460
00:20:19,560 --> 00:20:22,240
Speaker 8: MPs that you happen to name in your shadow cabinet,

461
00:20:22,600 --> 00:20:25,600
Speaker 8: I want them to be able to breach shadow cabinet

462
00:20:25,640 --> 00:20:29,320
Speaker 8: decisions and go public with their opposition. Well, that's never

463
00:20:29,359 --> 00:20:31,639
Speaker 8: going to fly, Heather, That's not the way the parliamentary

464
00:20:31,640 --> 00:20:35,000
Speaker 8: system works. Susan Lee said, you know, forget it, you're

465
00:20:35,000 --> 00:20:37,360
Speaker 8: out of your mind. There's not going to happen anyway.

466
00:20:38,080 --> 00:20:42,160
Speaker 8: Eminence grees like John Howard, Tony Abbott, even Barnaby Joyce

467
00:20:42,200 --> 00:20:44,600
Speaker 8: came lumbering into all of this and said, listen, you've

468
00:20:44,600 --> 00:20:47,400
Speaker 8: got to kiss and make up because individually they will

469
00:20:47,440 --> 00:20:50,280
Speaker 8: never be able to form government. Simply won't happen. So

470
00:20:50,400 --> 00:20:53,359
Speaker 8: it looks like they've actually come to something agreement. The

471
00:20:53,440 --> 00:20:56,120
Speaker 8: details are yet to be made public, but maybe they've

472
00:20:56,160 --> 00:20:59,320
Speaker 8: kissed and made up, because certainly that's what the Conservatives

473
00:20:59,320 --> 00:21:01,800
Speaker 8: are here. They are desperate for that coalition to get

474
00:21:01,840 --> 00:21:04,720
Speaker 8: back together. They're looking at years and years of labor

475
00:21:04,760 --> 00:21:06,760
Speaker 8: government without that coalition agreement.

476
00:21:07,200 --> 00:21:11,600
Speaker 5: Interesting, Now, what's going with PwC. Do we think that

477
00:21:11,680 --> 00:21:13,800
Speaker 5: things have all we have been cleaned up after that

478
00:21:13,800 --> 00:21:14,680
Speaker 5: big tax scandal.

479
00:21:15,400 --> 00:21:17,920
Speaker 8: Well, that's what it looks like. The Australian newspaper, the

480
00:21:17,960 --> 00:21:21,280
Speaker 8: Murdoch National newspaper here has spoken to the guy he

481
00:21:21,440 --> 00:21:24,439
Speaker 8: was called in to kind of fix things up and

482
00:21:24,480 --> 00:21:29,240
Speaker 8: it was a mess. PwC humiliated, not just here globally.

483
00:21:29,560 --> 00:21:33,000
Speaker 8: What they did as senior partner was privy to government

484
00:21:33,040 --> 00:21:36,600
Speaker 8: plans to change some tax laws. They're all top secret,

485
00:21:36,680 --> 00:21:42,200
Speaker 8: secret squirrel stuff. He shared that confidential information with clients

486
00:21:42,200 --> 00:21:45,680
Speaker 8: of PwC. Well, gee, that went over well not They

487
00:21:45,680 --> 00:21:48,080
Speaker 8: had to sell their Canorra business and there were tens

488
00:21:48,160 --> 00:21:52,399
Speaker 8: of millions of dollars that were being earned from government contracts.

489
00:21:52,600 --> 00:21:55,840
Speaker 8: They dried up overnight. Well, PwC had to call in

490
00:21:55,920 --> 00:21:58,600
Speaker 8: the cavalry. The guy. Two years on, he's told the

491
00:21:58,640 --> 00:22:01,560
Speaker 8: Australian newspaper listeners it's not perfect, but it's a bloody

492
00:22:01,560 --> 00:22:03,480
Speaker 8: sight better than it was when I was called in.

493
00:22:04,160 --> 00:22:08,200
Speaker 8: We've still got a few things to make right, but

494
00:22:08,320 --> 00:22:10,800
Speaker 8: we're on the way. It's a whole lot better now

495
00:22:10,880 --> 00:22:14,240
Speaker 8: and we're promising to make it completely better in the

496
00:22:14,920 --> 00:22:18,680
Speaker 8: not too distant future. So yeah, maybe PWC's in the

497
00:22:18,720 --> 00:22:19,400
Speaker 8: good books again.

498
00:22:19,640 --> 00:22:21,800
Speaker 5: Good stuff, Hey Mars, as always, thanks so much, really

499
00:22:21,800 --> 00:22:24,879
Speaker 5: appreciated Murray Old'sozsie corresponding, Okay, out of the budget, so

500
00:22:25,640 --> 00:22:27,159
Speaker 5: quite like the key we save this stuff. I'm going

501
00:22:27,160 --> 00:22:29,840
Speaker 5: to run you through this quickly. Basically, if you're earning

502
00:22:29,880 --> 00:22:31,840
Speaker 5: over one hundred and eighty thousand dollars. You're not going

503
00:22:31,880 --> 00:22:33,480
Speaker 5: to get any more from the government for key we

504
00:22:33,480 --> 00:22:35,080
Speaker 5: save because you know how it works. So you put

505
00:22:35,080 --> 00:22:37,600
Speaker 5: in money, employer puts in money, and the government puts

506
00:22:37,600 --> 00:22:39,400
Speaker 5: in a little bit of money as well. That's gone now.

507
00:22:39,520 --> 00:22:42,119
Speaker 5: If you're a rich dude, if you're under one hundred

508
00:22:42,119 --> 00:22:44,359
Speaker 5: and eighty thousand dollars, government used to give you fifty

509
00:22:44,400 --> 00:22:46,159
Speaker 5: cents for every dollar that you put in up to

510
00:22:46,160 --> 00:22:48,520
Speaker 5: a certain point. That's now down to twenty five cents,

511
00:22:48,840 --> 00:22:50,159
Speaker 5: and I think it tops out at something like two

512
00:22:50,240 --> 00:22:53,159
Speaker 5: hundred and sixty dollars or something like that annually. Anyway,

513
00:22:53,720 --> 00:22:55,520
Speaker 5: I would just cut it for everyone. I would have

514
00:22:55,520 --> 00:22:58,359
Speaker 5: cut it all together, because there is no point in

515
00:22:58,440 --> 00:23:01,320
Speaker 5: US now subsidizing people's key saves, right. The point of

516
00:23:01,400 --> 00:23:04,040
Speaker 5: doing that in the first place, when Mickey Cullens set

517
00:23:04,040 --> 00:23:06,240
Speaker 5: it up, was basically so that we could all get

518
00:23:06,280 --> 00:23:09,120
Speaker 5: into a savings culture, right, and an investment culture. Well

519
00:23:09,320 --> 00:23:12,080
Speaker 5: that's now well established and it's part of our employment culture.

520
00:23:12,320 --> 00:23:14,840
Speaker 5: I mean three hundred was like three point three million

521
00:23:14,840 --> 00:23:17,760
Speaker 5: of us have got Keywi Saber accounts. Eight hundred thousand

522
00:23:17,760 --> 00:23:20,560
Speaker 5: of US used chersias to invest. We know what we're doing.

523
00:23:20,600 --> 00:23:23,240
Speaker 5: They could have cut it all and saved a billion bucks. Also,

524
00:23:23,800 --> 00:23:26,560
Speaker 5: don't hate this quite like this. Arenzett has had its

525
00:23:27,040 --> 00:23:29,679
Speaker 5: budget cut. So remember when Ston Peters had threatened them

526
00:23:29,720 --> 00:23:32,159
Speaker 5: and said the funding cut is coming. That's happened, not

527
00:23:32,240 --> 00:23:35,000
Speaker 5: because he said that was obviously already going to happen.

528
00:23:35,200 --> 00:23:38,280
Speaker 5: It's been cut by four point five million dollars a year. Now,

529
00:23:38,359 --> 00:23:41,080
Speaker 5: don't cry for them because they've got loads of cash.

530
00:23:41,400 --> 00:23:43,800
Speaker 5: They already get sixty seven million dollars a year. They're

531
00:23:43,840 --> 00:23:46,320
Speaker 5: just losing four point five off that. They just got

532
00:23:46,320 --> 00:23:48,160
Speaker 5: a boost just in the last few years of thirty

533
00:23:48,160 --> 00:23:50,760
Speaker 5: three million dollars. Basically had their income doubled in the

534
00:23:50,800 --> 00:23:53,720
Speaker 5: last few years. So absolutely fine. Also, Paul Goldsmith, this

535
00:23:53,800 --> 00:23:56,120
Speaker 5: is what I love. He put out the budget documents saying,

536
00:23:56,119 --> 00:23:58,159
Speaker 5: am we've cut their budget, and then he was like, also,

537
00:23:58,800 --> 00:24:00,800
Speaker 5: they need to do a better job. He said, I

538
00:24:00,880 --> 00:24:04,399
Speaker 5: expect urn Z to improve audience, reach, trust and transparency.

539
00:24:04,720 --> 00:24:07,560
Speaker 5: I am confident the organization can do so while operating

540
00:24:07,560 --> 00:24:11,400
Speaker 5: in a period of titan fiscal constraint. Well, good luck

541
00:24:11,440 --> 00:24:14,560
Speaker 5: to him believing that that's going to happen. Jason Walls

542
00:24:14,640 --> 00:24:16,400
Speaker 5: is next sixteen away from five.

543
00:24:17,359 --> 00:24:21,560
Speaker 1: Politics with Centrics Credit check your customers and get payments Certainty.

544
00:24:21,480 --> 00:24:24,000
Speaker 5: And Jason Wall's News Talk zb's political editors with us

545
00:24:24,000 --> 00:24:26,960
Speaker 5: a Jason Happy budget Day, Heather and to you house.

546
00:24:27,000 --> 00:24:28,920
Speaker 5: It played out in the house well.

547
00:24:29,040 --> 00:24:33,199
Speaker 16: Bit pretty much as expected. I mean, there's the hours

548
00:24:33,240 --> 00:24:35,960
Speaker 16: after the budget are always quite fun to watch because

549
00:24:35,960 --> 00:24:38,280
Speaker 16: it's a battle of the sound bite as to who's

550
00:24:38,280 --> 00:24:41,159
Speaker 16: getting sort of the most SoundBite worthy. They want to

551
00:24:41,160 --> 00:24:42,879
Speaker 16: get on the six o'clock news. They obviously want to

552
00:24:42,880 --> 00:24:45,119
Speaker 16: get on news Talk ZEDB. We had the Prime Minister

553
00:24:45,160 --> 00:24:48,040
Speaker 16: who was of course very focused on the budget today.

554
00:24:47,920 --> 00:24:50,879
Speaker 4: Mister speaker. Hasn't it been a chambolic year for the

555
00:24:51,000 --> 00:24:54,240
Speaker 4: Labor Party, hasn't it? And I have to say, has

556
00:24:54,280 --> 00:24:57,040
Speaker 4: there ever been a leader of the opposition with less

557
00:24:57,040 --> 00:24:58,439
Speaker 4: substance than Chris Hebkin.

558
00:24:59,440 --> 00:25:02,359
Speaker 16: Speaking of Chris Hipkins, he made a number of jokes

559
00:25:02,359 --> 00:25:06,040
Speaker 16: about what Nichola Willis's bit no BS budget actually stood for.

560
00:25:06,119 --> 00:25:09,800
Speaker 3: The budget had no bread and shelter for vulnerable New Zealanders.

561
00:25:10,600 --> 00:25:13,399
Speaker 3: The budget had no back paid settlements for women who

562
00:25:13,440 --> 00:25:16,399
Speaker 3: have been fighting to have fair paid.

563
00:25:16,119 --> 00:25:17,359
Speaker 7: For far too long.

564
00:25:18,280 --> 00:25:21,680
Speaker 3: And it had no better society.

565
00:25:22,160 --> 00:25:25,880
Speaker 16: Shane drill Baby drill Jones was in full flight.

566
00:25:26,280 --> 00:25:34,520
Speaker 20: Mister speaker, kiwis I am holding marwing number one crude

567
00:25:34,600 --> 00:25:40,040
Speaker 20: oil with your blessings, mister speaker, I'd like to take

568
00:25:40,080 --> 00:25:43,320
Speaker 20: the lid off and invite the Green Party to snippet.

569
00:25:44,600 --> 00:25:46,600
Speaker 16: Very focused on the other side. But then, of course

570
00:25:46,640 --> 00:25:49,960
Speaker 16: we had the Greens and Chloe's surprise surprise, was not

571
00:25:50,080 --> 00:25:52,080
Speaker 16: a big fan of the budget, and I did value

572
00:25:52,200 --> 00:25:54,960
Speaker 16: to probably turn your radios down just a touch before

573
00:25:55,000 --> 00:25:55,800
Speaker 16: I played this one.

574
00:25:55,960 --> 00:25:57,760
Speaker 5: So much for no bears.

575
00:25:57,840 --> 00:26:00,359
Speaker 16: Eh, this is the trickle down budget.

576
00:26:00,480 --> 00:26:02,320
Speaker 5: This is the no ambition budget.

577
00:26:02,400 --> 00:26:04,840
Speaker 12: This is the child poverty is.

578
00:26:04,800 --> 00:26:06,480
Speaker 21: Actually all good budget.

579
00:26:06,680 --> 00:26:09,800
Speaker 22: This is the dismantle the country and hope to sell.

580
00:26:09,600 --> 00:26:12,440
Speaker 2: It for parts for international investment funds budget.

581
00:26:12,560 --> 00:26:14,359
Speaker 16: All right, there's enough of that, but you could tell

582
00:26:14,440 --> 00:26:16,760
Speaker 16: she's not really a fan Jay.

583
00:26:17,000 --> 00:26:19,080
Speaker 5: She's obviously has some polling suggesting she needs to be

584
00:26:19,160 --> 00:26:21,439
Speaker 5: more passionate. Now what happened with you and labor.

585
00:26:22,000 --> 00:26:24,960
Speaker 16: I'm interested in this one because it's pay equity, right,

586
00:26:25,000 --> 00:26:28,199
Speaker 16: because like it or not, Nicola willis like it or not.

587
00:26:28,280 --> 00:26:31,640
Speaker 16: Chris Luxon Seymour was right. Brooke van Velden did save

588
00:26:31,840 --> 00:26:35,080
Speaker 16: the budget when it came to this pay equity figure.

589
00:26:35,320 --> 00:26:37,320
Speaker 16: Looking at the numbers, A good proportion of what was

590
00:26:37,320 --> 00:26:41,040
Speaker 16: announced today was only possible because of these pay equity changes.

591
00:26:41,080 --> 00:26:44,080
Speaker 16: We got the numbers this afternoon. The government saved almost

592
00:26:44,119 --> 00:26:48,119
Speaker 16: thirteen billion through revamping this scheme. Here's how Nikola Willis

593
00:26:48,160 --> 00:26:50,040
Speaker 16: described it in the Budget lockup.

594
00:26:49,840 --> 00:26:53,720
Speaker 2: To give you a sense of the magnitude of this blowout.

595
00:26:54,160 --> 00:26:58,240
Speaker 2: When the pay equity regime began in twenty twenty, the

596
00:26:58,400 --> 00:27:02,040
Speaker 2: estimated costs and Tree his books for pay equity settlements

597
00:27:02,359 --> 00:27:05,800
Speaker 2: over the next four years was three point seven billion.

598
00:27:06,920 --> 00:27:12,720
Speaker 2: Since then, potential costs have risen steeply pretty much every year.

599
00:27:13,040 --> 00:27:15,600
Speaker 16: So three point seven billion too, a number which we

600
00:27:15,640 --> 00:27:17,560
Speaker 16: actually don't know the full amount at the moment. They

601
00:27:17,560 --> 00:27:20,760
Speaker 16: wouldn't tell us that, but it's thirteen billion that they're saving,

602
00:27:20,800 --> 00:27:23,080
Speaker 16: so at least thirteen billion, it's it's got to be

603
00:27:23,119 --> 00:27:25,720
Speaker 16: more than that. So the question is what was going

604
00:27:25,720 --> 00:27:28,640
Speaker 16: on with labor during that time. We got Chris Hopkins

605
00:27:28,760 --> 00:27:31,679
Speaker 16: up on the pilant's black and white tiles trying to

606
00:27:31,720 --> 00:27:34,840
Speaker 16: get some information out of him as to how it

607
00:27:34,960 --> 00:27:38,760
Speaker 16: got so expensive. Will wogain his responsibility to the fact

608
00:27:38,760 --> 00:27:41,280
Speaker 16: that it is such a big figure the Finance Minister

609
00:27:41,560 --> 00:27:43,840
Speaker 16: made a specific point of saying, under your watch that

610
00:27:43,920 --> 00:27:46,280
Speaker 16: this is what the amount of functionship was out of control.

611
00:27:46,359 --> 00:27:49,280
Speaker 9: But for goodness sakes, I don't take responsibility for the

612
00:27:49,320 --> 00:27:51,320
Speaker 9: fact that women are being paid less than men. I

613
00:27:51,320 --> 00:27:53,199
Speaker 9: do take responsibility for the fact that we were going

614
00:27:53,280 --> 00:27:54,280
Speaker 9: to do something about.

615
00:27:54,000 --> 00:27:56,360
Speaker 16: This, which is not an answer at all. So try

616
00:27:56,400 --> 00:27:59,120
Speaker 16: it again, Law twenty three. This is when this would

617
00:27:59,119 --> 00:28:00,880
Speaker 16: have all been coming to a head. Will you prove

618
00:28:00,920 --> 00:28:03,080
Speaker 16: it to the information about how much this was blowing

619
00:28:03,119 --> 00:28:04,119
Speaker 16: up in terms of the constom.

620
00:28:04,320 --> 00:28:06,040
Speaker 7: Well, we would have had calculations at that time. I

621
00:28:06,040 --> 00:28:08,600
Speaker 7: don't have them now. But were you worried at the time, Well,

622
00:28:08,640 --> 00:28:12,040
Speaker 7: we as very clear. We set aside funding to pay

623
00:28:12,080 --> 00:28:12,320
Speaker 7: for us.

624
00:28:12,359 --> 00:28:14,640
Speaker 16: So he was not giving us any information in terms

625
00:28:14,720 --> 00:28:17,880
Speaker 16: of anything that came across his desk. We tried, We tried.

626
00:28:17,960 --> 00:28:20,520
Speaker 16: You tried one more time. When you're Prime minister, did

627
00:28:20,560 --> 00:28:22,760
Speaker 16: you receive any warning to Stroachery or any of your

628
00:28:22,840 --> 00:28:26,320
Speaker 16: ministers about any riches to do with the pay equity

629
00:28:27,760 --> 00:28:31,080
Speaker 16: by ability exceeding that of the three billion dollars that

630
00:28:31,080 --> 00:28:32,399
Speaker 16: you have anticipated.

631
00:28:32,520 --> 00:28:34,119
Speaker 9: I'd have to go back and check, but we certainly

632
00:28:34,200 --> 00:28:35,560
Speaker 9: knew that it was going there was going to be

633
00:28:35,560 --> 00:28:38,440
Speaker 9: a reasonably significant price deck with settling pay when he claim.

634
00:28:38,400 --> 00:28:40,200
Speaker 16: How much is reasonably significant?

635
00:28:40,480 --> 00:28:42,600
Speaker 7: I didn't memorize the reports. Hope to go back and

636
00:28:42,600 --> 00:28:43,200
Speaker 7: find them again.

637
00:28:43,280 --> 00:28:45,320
Speaker 16: So clear as mud thus far. And I heard him

638
00:28:45,320 --> 00:28:47,640
Speaker 16: when you were talking to him before. There's absolutely no

639
00:28:47,840 --> 00:28:49,360
Speaker 16: answers from Labor on this one too.

640
00:28:49,400 --> 00:28:50,920
Speaker 5: Yeah, it doesn't want to go there. Hey, can I

641
00:28:50,960 --> 00:28:53,840
Speaker 5: just ask you just a personal question? Why is it

642
00:28:53,960 --> 00:28:57,560
Speaker 5: that you? Because we're broadcasting out of Parliament today obviously,

643
00:28:57,720 --> 00:29:00,080
Speaker 5: and so we're not far from the press gallery, we

644
00:29:00,680 --> 00:29:03,520
Speaker 5: you know, have occasion to use your kitchen. Why do

645
00:29:03,640 --> 00:29:05,040
Speaker 5: none of you guys have any tea?

646
00:29:05,880 --> 00:29:06,480
Speaker 16: What do you tea?

647
00:29:06,480 --> 00:29:09,000
Speaker 5: As in like, well, there's no tea in your kitchen?

648
00:29:09,400 --> 00:29:11,720
Speaker 16: Oh, because we're all separate officers. We have tea in

649
00:29:11,760 --> 00:29:15,080
Speaker 16: our own officers. We're not some social body with.

650
00:29:15,040 --> 00:29:17,400
Speaker 5: The long We sent him with the long hair and

651
00:29:17,480 --> 00:29:19,640
Speaker 5: to get a tea for me and and Janney had

652
00:29:19,680 --> 00:29:21,720
Speaker 5: to give us a tea. And it wasn't a lady.

653
00:29:21,800 --> 00:29:23,680
Speaker 5: There was a lady Gray. There's no do you have

654
00:29:24,240 --> 00:29:26,160
Speaker 5: do you have English breakfast in your office?

655
00:29:26,640 --> 00:29:29,920
Speaker 16: We've probably got some sitting around somewhere yonder you were

656
00:29:29,960 --> 00:29:31,520
Speaker 16: looking for tea? How that I would have helped you out?

657
00:29:31,520 --> 00:29:32,680
Speaker 16: But wrong with like?

658
00:29:32,720 --> 00:29:35,640
Speaker 5: What is wrong with you? People? Have you lost all culture?

659
00:29:36,400 --> 00:29:38,920
Speaker 16: As Press Gallery chair, I make a solemn promise to

660
00:29:38,960 --> 00:29:41,480
Speaker 16: do a case study at a market study into getting

661
00:29:41,520 --> 00:29:43,920
Speaker 16: some tea for the gallery kitchen. We'll go out to

662
00:29:44,000 --> 00:29:46,600
Speaker 16: consultation and after six to nine years we'll get back

663
00:29:46,600 --> 00:29:47,240
Speaker 16: to you an announce it.

664
00:29:47,280 --> 00:29:49,400
Speaker 5: How about that? Okay, off you go, Jason, Thank you

665
00:29:49,400 --> 00:29:52,040
Speaker 5: as always Jason Wall's us ZB politically it is honestly

666
00:29:52,080 --> 00:29:53,800
Speaker 5: we had to scrounge around and we got like and

667
00:29:53,840 --> 00:29:56,120
Speaker 5: nobody drinks ill gray tea if they've got any class,

668
00:29:56,280 --> 00:29:58,280
Speaker 5: So we had to scrounge around and drink this. Thank

669
00:29:58,320 --> 00:29:59,960
Speaker 5: you to Janey who was lovely and shared one of

670
00:30:00,240 --> 00:30:02,800
Speaker 5: tea bags. I mean sharing a tea bag. How poor

671
00:30:02,840 --> 00:30:06,400
Speaker 5: have we got? And also please like we're all basically,

672
00:30:06,600 --> 00:30:08,480
Speaker 5: if you've got a white skin, you send it from

673
00:30:08,560 --> 00:30:11,200
Speaker 5: somebody in the UK. It's culture. We should be drinking

674
00:30:11,200 --> 00:30:14,040
Speaker 5: the tea. Disgraced by the press gallery eight away from five.

675
00:30:15,960 --> 00:30:20,120
Speaker 1: Putting the tough questions to the newspeakers, the mic asking breakfast, it's.

676
00:30:20,000 --> 00:30:23,160
Speaker 20: Even Joyce, former Finance minister, is is this how economies work?

677
00:30:23,240 --> 00:30:24,480
Speaker 6: From your financial experience?

678
00:30:24,520 --> 00:30:26,719
Speaker 21: In other words, at any given point in time, somebody

679
00:30:26,760 --> 00:30:27,720
Speaker 21: somewhere is doing well.

680
00:30:27,800 --> 00:30:28,760
Speaker 5: Thank the Good Lord for that.

681
00:30:29,400 --> 00:30:31,440
Speaker 23: Yeah, well you'd hope so, wouldn't you, Because after a

682
00:30:31,480 --> 00:30:34,160
Speaker 23: top three years, it feels good to see somebody doing well.

683
00:30:34,240 --> 00:30:36,120
Speaker 23: I think what we're seeing is probably the beginning to

684
00:30:36,160 --> 00:30:39,720
Speaker 23: an export lead recovery, which is domestically, people are spending

685
00:30:39,720 --> 00:30:42,480
Speaker 23: a lot of money to imports coming in. But fortunately

686
00:30:42,560 --> 00:30:44,720
Speaker 23: for us, the world is buying our stuff. And it's

687
00:30:44,760 --> 00:30:47,000
Speaker 23: not a subsidy, just a memo for the US president,

688
00:30:47,080 --> 00:30:49,760
Speaker 23: but a bit that'll be making people nervous. Still is

689
00:30:49,800 --> 00:30:52,800
Speaker 23: the potential for rapid policy change out of the US.

690
00:30:53,040 --> 00:30:55,760
Speaker 8: Back tomorrow at six am, the Mic Hosking Breakfast with

691
00:30:55,840 --> 00:30:58,240
Speaker 8: the rain drove of the lame newstalk ZB.

692
00:30:59,320 --> 00:31:02,080
Speaker 5: Hither my dad religiously carries a tea bag on him. Honestly,

693
00:31:02,120 --> 00:31:03,800
Speaker 5: I'm going to have to start taking this up because

694
00:31:03,840 --> 00:31:05,920
Speaker 5: you can only go so many hours, right and we're

695
00:31:05,920 --> 00:31:08,640
Speaker 5: at so many hours already. I'll tell you that right now,

696
00:31:08,640 --> 00:31:10,800
Speaker 5: five away from five, Heather. It's a far better budget

697
00:31:10,800 --> 00:31:12,840
Speaker 5: than Labor ever gave us. All they did was hand

698
00:31:12,840 --> 00:31:14,920
Speaker 5: out money they didn't have to buy votes. This is

699
00:31:15,000 --> 00:31:17,680
Speaker 5: a sensible and safe budget and as a retired key,

700
00:31:17,680 --> 00:31:20,320
Speaker 5: we I feel quite comfortable with it. Hither I get

701
00:31:20,320 --> 00:31:22,200
Speaker 5: the government inherited a mess and it's a challenge to

702
00:31:22,240 --> 00:31:24,480
Speaker 5: ballace the budget for all the talk that this will

703
00:31:24,520 --> 00:31:26,120
Speaker 5: be a year of growth, though the dial is not

704
00:31:26,160 --> 00:31:27,840
Speaker 5: going to move. They risk going to the next election

705
00:31:27,880 --> 00:31:29,800
Speaker 5: with main Street being no better. And we're going to

706
00:31:29,840 --> 00:31:31,760
Speaker 5: talk to Nichola Willis about it because look, you know

707
00:31:31,760 --> 00:31:33,600
Speaker 5: it's been labeled the growth budget, but as I said

708
00:31:33,600 --> 00:31:35,160
Speaker 5: at the start of the program, they ain't no growth

709
00:31:35,160 --> 00:31:37,200
Speaker 5: in there. So we'll have a chat to her about

710
00:31:37,240 --> 00:31:40,040
Speaker 5: it when she's with us. I just need to update

711
00:31:40,080 --> 00:31:42,520
Speaker 5: you very quickly on the heckler now. Apparently the heckler

712
00:31:43,360 --> 00:31:46,320
Speaker 5: who gave Winston Peters the hard time and threw the

713
00:31:46,360 --> 00:31:49,360
Speaker 5: word bollocks around is sorry for what he did at

714
00:31:49,360 --> 00:31:51,680
Speaker 5: the train station in Wellington on Tuesday. The Herald went

715
00:31:51,720 --> 00:31:54,440
Speaker 5: round to his house today. They say he was visibly

716
00:31:54,520 --> 00:31:58,160
Speaker 5: upset and tearful over the situation. He said it would

717
00:31:58,200 --> 00:32:01,120
Speaker 5: be sensible for him to refrain from commenting on the matter,

718
00:32:01,400 --> 00:32:03,840
Speaker 5: but that he was apologetic over what had happened, and

719
00:32:03,840 --> 00:32:06,880
Speaker 5: he would not comment any further because obviously being investigated

720
00:32:06,880 --> 00:32:09,360
Speaker 5: by his employers. I think his employers need to calm

721
00:32:09,400 --> 00:32:12,880
Speaker 5: down on this. I hardly think he deserves an investigation.

722
00:32:12,920 --> 00:32:15,000
Speaker 5: I mean unless he makes a habit of doing this

723
00:32:15,280 --> 00:32:17,160
Speaker 5: with his lanyard around his neck. All he did was

724
00:32:17,160 --> 00:32:19,960
Speaker 5: heckel when he's got a thick skin, And it was

725
00:32:19,960 --> 00:32:21,520
Speaker 5: hardly the worst thing that we've seen in the last

726
00:32:21,520 --> 00:32:23,080
Speaker 5: few days. I mean, he didn't drop the sea bomb,

727
00:32:23,080 --> 00:32:26,440
Speaker 5: did he like a certain columnist. He didn't point the

728
00:32:26,480 --> 00:32:29,360
Speaker 5: naughty fingers like a gun like Debbie did in the house.

729
00:32:29,400 --> 00:32:31,520
Speaker 5: So I mean, give a guy a bit of a break. Hey,

730
00:32:31,960 --> 00:32:34,200
Speaker 5: here's a little bit of good news out of the budget.

731
00:32:34,280 --> 00:32:37,520
Speaker 5: If you are if you get the repeat prescriptions, and

732
00:32:37,600 --> 00:32:39,040
Speaker 5: you got to you know, you've got to go back

733
00:32:39,080 --> 00:32:40,960
Speaker 5: to the GP every three months. They got to check

734
00:32:40,960 --> 00:32:42,720
Speaker 5: you with and go, oh, yes, you do still have

735
00:32:42,800 --> 00:32:46,200
Speaker 5: that thing. You do still have high blood pressure. Let's

736
00:32:46,200 --> 00:32:48,120
Speaker 5: give you you know. I mean, that's ridiculous, isn't it.

737
00:32:48,200 --> 00:32:50,760
Speaker 5: They've just changed it. So if the GP says it's

738
00:32:50,760 --> 00:32:53,280
Speaker 5: a good idea, they can prescribe you all the way

739
00:32:53,320 --> 00:32:56,080
Speaker 5: through for a year. Now, that's going to cost ninety

740
00:32:56,080 --> 00:32:58,600
Speaker 5: one million dollars. And that's basically because they're assuming that

741
00:32:58,600 --> 00:33:00,720
Speaker 5: people will get more medication. Beau, they'll get it more,

742
00:33:00,760 --> 00:33:03,280
Speaker 5: you know, get longer doses. They'll get more as we're

743
00:33:03,280 --> 00:33:05,040
Speaker 5: going to cover the cost of that turn ninety one million.

744
00:33:05,080 --> 00:33:06,680
Speaker 5: So there you go. That's a sensible thing to do,

745
00:33:06,720 --> 00:33:07,800
Speaker 5: isn't it?

746
00:33:07,840 --> 00:33:08,080
Speaker 7: News?

747
00:33:08,160 --> 00:33:08,760
Speaker 5: Is next.

748
00:33:10,280 --> 00:33:11,240
Speaker 1: Hurning mean?

749
00:33:11,480 --> 00:33:11,880
Speaker 19: Isn't it?

750
00:33:13,480 --> 00:33:22,680
Speaker 6: Sermon made bed and mill arnings a little? How is

751
00:33:22,720 --> 00:33:23,880
Speaker 6: the economy shaping up?

752
00:33:24,040 --> 00:33:26,840
Speaker 1: Who is raking in the cash and who will be

753
00:33:26,920 --> 00:33:30,240
Speaker 1: disappointed in the time to crunch the numbers and find

754
00:33:30,240 --> 00:33:31,960
Speaker 1: out how it affects you?

755
00:33:31,960 --> 00:33:33,840
Speaker 6: You it's hell duplicy.

756
00:33:33,840 --> 00:33:37,680
Speaker 1: Ellen drive live from Parliament for Budget twenty twenty five

757
00:33:37,880 --> 00:33:40,600
Speaker 1: with one new zealft used dogs have been.

758
00:33:42,480 --> 00:33:44,240
Speaker 5: Good afternoon to the budget. You are going to have

759
00:33:44,280 --> 00:33:46,200
Speaker 5: to contribute more to your key. We say that the

760
00:33:46,240 --> 00:33:49,080
Speaker 5: government will put in less teenagers will no longer be

761
00:33:49,120 --> 00:33:51,160
Speaker 5: able to get the doll and we now know that

762
00:33:51,200 --> 00:33:54,800
Speaker 5: the pay Equity Scheme rejig has saved nearly thirteen billion dollars.

763
00:33:55,080 --> 00:33:57,440
Speaker 5: The government has managed to deliver seven billion more for

764
00:33:57,520 --> 00:34:00,400
Speaker 5: health tax incentives for businesses to buy new equipment, plus

765
00:34:00,440 --> 00:34:02,720
Speaker 5: two hundred million dollars to find some new gas. Nicola

766
00:34:02,720 --> 00:34:05,160
Speaker 5: Willis is the Finance Minister and with us now, Nicola, Hello,

767
00:34:05,320 --> 00:34:05,840
Speaker 5: hello here.

768
00:34:05,920 --> 00:34:07,240
Speaker 12: That's great to be with you in person.

769
00:34:07,320 --> 00:34:09,080
Speaker 5: It is lovely to have you. Thank you, and thank

770
00:34:09,120 --> 00:34:11,000
Speaker 5: you very much for racing through your speech to be here.

771
00:34:12,000 --> 00:34:13,920
Speaker 5: Where's the growth in the growth budget? Where is it?

772
00:34:14,120 --> 00:34:17,120
Speaker 2: Well, the growth is coming this year and accelerating into

773
00:34:17,200 --> 00:34:20,359
Speaker 2: next year and beyond, averaging two point seven percent over

774
00:34:20,400 --> 00:34:22,880
Speaker 2: the next little while and much faster than we've had it.

775
00:34:23,080 --> 00:34:25,120
Speaker 5: This is the export is doing it and they going

776
00:34:25,160 --> 00:34:26,880
Speaker 5: to do it. Whether you are there or not. What

777
00:34:26,960 --> 00:34:28,080
Speaker 5: are you doing at the GROT.

778
00:34:28,120 --> 00:34:30,800
Speaker 2: Well, this investment boost policy is going to lift growth

779
00:34:30,840 --> 00:34:32,719
Speaker 2: and it is going to lift GDP because what it

780
00:34:32,760 --> 00:34:35,640
Speaker 2: says to every business about one percent over the next

781
00:34:35,680 --> 00:34:38,280
Speaker 2: twenty years, but half of that over the next five years.

782
00:34:38,400 --> 00:34:41,520
Speaker 2: Combine that with our other reforms, whether it's RMA reform,

783
00:34:41,560 --> 00:34:44,919
Speaker 2: setting up invest New zealand encouraging foreign investment. We're doing

784
00:34:44,920 --> 00:34:47,680
Speaker 2: things that are going to generate measurable growth. But Investment

785
00:34:47,719 --> 00:34:50,400
Speaker 2: boost is really important because what it says to every

786
00:34:50,480 --> 00:34:54,200
Speaker 2: business listening right now is if you make an investment

787
00:34:54,280 --> 00:34:56,719
Speaker 2: in a news set. We are going to deduct the

788
00:34:56,800 --> 00:34:59,640
Speaker 2: cost of that from your textbill twenty percent deduction. So

789
00:34:59,680 --> 00:35:01,920
Speaker 2: that's go to help your cash flow now. And if

790
00:35:01,920 --> 00:35:04,920
Speaker 2: you were thinking about making an investment, do it because

791
00:35:04,920 --> 00:35:07,239
Speaker 2: we're going to help you out, because that would have

792
00:35:07,280 --> 00:35:09,600
Speaker 2: cost more than eight and a half billion dollars an

793
00:35:09,640 --> 00:35:10,120
Speaker 2: a a year.

794
00:35:10,160 --> 00:35:11,399
Speaker 5: Are you sure because that number is.

795
00:35:11,480 --> 00:35:14,319
Speaker 2: That is the advice that I received from inland Revenue,

796
00:35:14,800 --> 00:35:16,960
Speaker 2: and I trust them that I'm more some of the

797
00:35:17,040 --> 00:35:19,040
Speaker 2: bush costings that are out there at the.

798
00:35:18,960 --> 00:35:20,480
Speaker 5: Moment not have paid for itself.

799
00:35:20,920 --> 00:35:23,360
Speaker 2: Well, no, the advice was that it wouldn't because what

800
00:35:23,480 --> 00:35:26,880
Speaker 2: it starts to do is incentivize investments that wouldn't stack

801
00:35:26,960 --> 00:35:30,240
Speaker 2: up otherwise. Our advice was twenty percent is the sweet spot.

802
00:35:30,280 --> 00:35:32,680
Speaker 2: That's where you get the most value for each dollar

803
00:35:32,719 --> 00:35:34,320
Speaker 2: of tax revenue that you're losing.

804
00:35:34,640 --> 00:35:36,440
Speaker 12: Go higher than that and you're not getting quite as

805
00:35:36,520 --> 00:35:37,080
Speaker 12: much bang.

806
00:35:36,960 --> 00:35:41,680
Speaker 5: For bark because okay, so Trump himself did one hundred percent,

807
00:35:41,760 --> 00:35:44,719
Speaker 5: Rishi Sunak did one hundred percent. The business community has

808
00:35:44,760 --> 00:35:47,759
Speaker 5: called for accelerated depreciation, which I totally take is not

809
00:35:47,840 --> 00:35:50,319
Speaker 5: exactly the same thing, but they want fifty percent. If

810
00:35:50,760 --> 00:35:52,319
Speaker 5: all of this is above what you're doing. If you

811
00:35:52,400 --> 00:35:54,600
Speaker 5: find out that twenty percent is not enough, will you

812
00:35:54,680 --> 00:35:55,200
Speaker 5: rejig it?

813
00:35:55,480 --> 00:35:55,680
Speaker 7: Well?

814
00:35:55,719 --> 00:35:57,440
Speaker 2: These are the same people I think you'll find here,

815
00:35:57,480 --> 00:35:59,719
Speaker 2: the who say get the books back and balance, and

816
00:36:00,120 --> 00:36:01,520
Speaker 2: that is what we have to do. We have to

817
00:36:01,560 --> 00:36:03,959
Speaker 2: get that balance between making sure there's a good tax

818
00:36:04,000 --> 00:36:06,960
Speaker 2: incentive there, but also being prudent about the fact that

819
00:36:07,000 --> 00:36:10,399
Speaker 2: New Zealand has been in deficit since twenty nineteen. Debt

820
00:36:10,440 --> 00:36:13,080
Speaker 2: has blown out by an extra hundred billion dollars. So

821
00:36:13,120 --> 00:36:14,719
Speaker 2: I need to do all of this with enough.

822
00:36:14,760 --> 00:36:16,920
Speaker 5: If you're doing little bit percent. The point of the

823
00:36:16,920 --> 00:36:19,120
Speaker 5: twenty percent is to try to get people investing. If

824
00:36:19,120 --> 00:36:20,719
Speaker 5: it doesn't work, there's no point in doing it. So

825
00:36:20,719 --> 00:36:21,480
Speaker 5: would you rejig it?

826
00:36:21,520 --> 00:36:21,640
Speaker 15: Well?

827
00:36:21,640 --> 00:36:23,919
Speaker 2: The advice that I've received is that it will get

828
00:36:23,920 --> 00:36:26,720
Speaker 2: people investing, that it's enough to make a meaningful difference.

829
00:36:26,760 --> 00:36:27,440
Speaker 12: I mean, think about it.

830
00:36:27,440 --> 00:36:28,719
Speaker 2: If you're a trading and you go and buy a

831
00:36:28,800 --> 00:36:31,680
Speaker 2: ute tomorrow, You've now got a twenty percent deduction on

832
00:36:31,760 --> 00:36:33,759
Speaker 2: the cost of that against your tax bill. You'll be

833
00:36:33,760 --> 00:36:36,680
Speaker 2: paying less tax this year. That's good news.

834
00:36:36,840 --> 00:36:39,759
Speaker 5: Okay. Why not cut the government contributions to everyone's kei

835
00:36:39,920 --> 00:36:42,160
Speaker 5: saber altogether? Because it's done its job, hasn't it.

836
00:36:42,200 --> 00:36:45,279
Speaker 2: Because our judgment was that on balance, that contribution is

837
00:36:45,400 --> 00:36:47,719
Speaker 2: enough to give some people the nudge into saving who

838
00:36:47,840 --> 00:36:50,240
Speaker 2: might not otherwise, and it keeps people in the scheme

839
00:36:50,280 --> 00:36:52,240
Speaker 2: even if they go through a period where they can't

840
00:36:52,280 --> 00:36:55,320
Speaker 2: afford to make their own contributions, knowing that the government's

841
00:36:55,320 --> 00:36:56,760
Speaker 2: going to give them that extra cash.

842
00:36:57,040 --> 00:36:59,719
Speaker 5: Here's the moloyment, the employer's contribution.

843
00:36:59,800 --> 00:37:02,239
Speaker 2: Do you yeah, But to get the employer contribution, of course,

844
00:37:02,280 --> 00:37:04,360
Speaker 2: you have to make your own contribution. And some people

845
00:37:04,440 --> 00:37:07,200
Speaker 2: will for a time withdrawal from the scheme or stop

846
00:37:07,239 --> 00:37:10,720
Speaker 2: their own contributions, but on balance they might keep going

847
00:37:10,760 --> 00:37:13,799
Speaker 2: if that subsidy is there. Look, basically, we thought that

848
00:37:13,840 --> 00:37:15,520
Speaker 2: if you keep it there at that level, there's still

849
00:37:15,560 --> 00:37:16,480
Speaker 2: a little nudge.

850
00:37:16,239 --> 00:37:18,680
Speaker 12: To keep people in. But it's a much more affordable.

851
00:37:18,239 --> 00:37:20,160
Speaker 5: Spending one hundred and seventy nine thousand dollars a year

852
00:37:20,200 --> 00:37:21,839
Speaker 5: doesn't need a government contribution, do they.

853
00:37:22,320 --> 00:37:24,439
Speaker 2: Well, we cut it off at one hundred and eighty.

854
00:37:24,440 --> 00:37:26,840
Speaker 2: If you're sending one hundred and eighty or more, you

855
00:37:26,880 --> 00:37:29,840
Speaker 2: will now not get that contribution at all, and everyone's

856
00:37:29,840 --> 00:37:31,040
Speaker 2: contribution is halved.

857
00:37:31,080 --> 00:37:32,279
Speaker 12: We think it's about.

858
00:37:32,080 --> 00:37:34,319
Speaker 5: Right Okay, now on the kids off the doll. You'll

859
00:37:34,360 --> 00:37:36,400
Speaker 5: take the teenagers off the doll. But you're going to

860
00:37:36,400 --> 00:37:38,040
Speaker 5: do a parental test. What's the test?

861
00:37:38,480 --> 00:37:41,600
Speaker 2: Well, we are still finalizing the details of the policy,

862
00:37:41,600 --> 00:37:44,719
Speaker 2: but the basic concept is that this is actually about

863
00:37:44,760 --> 00:37:47,520
Speaker 2: helping parents because I have met parents who say, look,

864
00:37:47,560 --> 00:37:49,399
Speaker 2: I've got a nineteen year old who spends all day

865
00:37:49,440 --> 00:37:53,560
Speaker 2: on the couch playing keep playing PlayStation and it's pretty

866
00:37:53,560 --> 00:37:56,360
Speaker 2: difficult because you the government send them a check each fortnight.

867
00:37:57,080 --> 00:38:00,000
Speaker 2: So we've got the same expectation most mums and dads

868
00:38:00,080 --> 00:38:01,799
Speaker 2: to do, which as kids should be in training, in

869
00:38:01,840 --> 00:38:04,920
Speaker 2: an apprenticeship or in work and if they're not, they

870
00:38:04,960 --> 00:38:05,840
Speaker 2: can't get the purfit.

871
00:38:05,920 --> 00:38:07,640
Speaker 5: And it makes perfect sense. But how are you going

872
00:38:07,719 --> 00:38:09,120
Speaker 5: to test the parents? What is it?

873
00:38:08,920 --> 00:38:09,360
Speaker 2: Is it?

874
00:38:09,400 --> 00:38:10,479
Speaker 5: Well, it means is it income?

875
00:38:10,600 --> 00:38:12,640
Speaker 2: We accept there will have to be some exceptions where

876
00:38:12,680 --> 00:38:15,239
Speaker 2: for whatever reason, there's been a family break down and

877
00:38:15,239 --> 00:38:17,680
Speaker 2: so it's not reasonable to expect that the parents are

878
00:38:17,680 --> 00:38:20,839
Speaker 2: in a position to support their teenager. But we are

879
00:38:20,880 --> 00:38:22,879
Speaker 2: going to work on the details of that and we're

880
00:38:22,880 --> 00:38:24,760
Speaker 2: looking forward to making more announcements.

881
00:38:24,360 --> 00:38:25,880
Speaker 5: About are you going to income test? Is that what

882
00:38:25,920 --> 00:38:26,360
Speaker 5: it's about?

883
00:38:26,960 --> 00:38:30,200
Speaker 2: Well, that might be part of the test, but we

884
00:38:30,280 --> 00:38:32,800
Speaker 2: need to make sure it's tight enough that not everyone's

885
00:38:32,840 --> 00:38:36,080
Speaker 2: getting an exception, because we genuinely want to get those

886
00:38:36,160 --> 00:38:38,040
Speaker 2: kids into work in training. We know that if you

887
00:38:38,120 --> 00:38:40,879
Speaker 2: start on a benefit at that age, on average, you're

888
00:38:40,920 --> 00:38:43,680
Speaker 2: going to spend more than fifteen years on a benefit.

889
00:38:43,760 --> 00:38:45,520
Speaker 2: So that is bad news for everyone.

890
00:38:46,080 --> 00:38:48,319
Speaker 5: So these kids, they manage to get the doll right,

891
00:38:48,320 --> 00:38:50,000
Speaker 5: so they don't get they're off the doll of the

892
00:38:50,040 --> 00:38:51,720
Speaker 5: single but if they get married or in a civil

893
00:38:51,800 --> 00:38:54,000
Speaker 5: union or in a de factor relationship, they will continue

894
00:38:54,040 --> 00:38:55,360
Speaker 5: to get the doll. Well, he's going to get the

895
00:38:55,360 --> 00:38:56,480
Speaker 5: girlfriend around, aren't they?

896
00:38:56,719 --> 00:38:57,400
Speaker 12: Well, I don't know.

897
00:38:57,560 --> 00:38:59,200
Speaker 2: I don't think you'll find that many of these young

898
00:38:59,239 --> 00:39:00,920
Speaker 2: people will be jumped into marriage.

899
00:39:01,520 --> 00:39:03,200
Speaker 5: But they don't have to be very nicola. They just

900
00:39:03,239 --> 00:39:04,920
Speaker 5: have to be in a de facto relationship.

901
00:39:04,960 --> 00:39:07,160
Speaker 2: Well, look, all of these are the things that we're

902
00:39:07,200 --> 00:39:09,560
Speaker 2: going to test with the policy. We need to move

903
00:39:09,560 --> 00:39:11,560
Speaker 2: in with you absolutely right Hither, we need to make

904
00:39:11,600 --> 00:39:13,960
Speaker 2: sure that this policy sends very strong signals and that

905
00:39:14,000 --> 00:39:15,560
Speaker 2: we get the details right. And I've got faith in

906
00:39:15,600 --> 00:39:16,640
Speaker 2: Luise Upstince she'll do that.

907
00:39:16,680 --> 00:39:17,960
Speaker 5: Are you going to change the rules about the de

908
00:39:18,000 --> 00:39:18,600
Speaker 5: facto stuff.

909
00:39:18,640 --> 00:39:21,040
Speaker 2: Then well, we're going to make sure that this policy

910
00:39:21,200 --> 00:39:24,640
Speaker 2: incentivizes teenagers to get into worker education and we'll do

911
00:39:24,680 --> 00:39:26,320
Speaker 2: what we have to do with the roles to ensure

912
00:39:26,360 --> 00:39:26,879
Speaker 2: that's the case.

913
00:39:27,000 --> 00:39:29,600
Speaker 5: Okay, now you have saved in this financial year five

914
00:39:29,640 --> 00:39:34,880
Speaker 5: billion dollars, that's right. Why not take that money and

915
00:39:34,440 --> 00:39:36,560
Speaker 5: put it towards the debt and pay down the debt?

916
00:39:36,600 --> 00:39:38,920
Speaker 2: Because the price that every New Zealander would have to

917
00:39:38,960 --> 00:39:45,560
Speaker 2: pay for that is fewer health services, schools getting cuts

918
00:39:45,600 --> 00:39:48,560
Speaker 2: to their funding, and real terms, I wouldn't have money

919
00:39:48,600 --> 00:39:52,080
Speaker 2: to pay teachers more, the police wouldn't get the resources

920
00:39:52,080 --> 00:39:54,600
Speaker 2: that they need to keep our communities safe, and our

921
00:39:54,640 --> 00:39:58,960
Speaker 2: defense force would continue its slide to becoming that more.

922
00:39:59,160 --> 00:40:00,799
Speaker 5: Sold to a back are we going to play?

923
00:40:00,840 --> 00:40:03,080
Speaker 2: So there are investments that need to be made hither

924
00:40:03,160 --> 00:40:04,840
Speaker 2: and we are funding them from savings.

925
00:40:04,880 --> 00:40:05,960
Speaker 12: That's the responsible way.

926
00:40:06,080 --> 00:40:09,760
Speaker 5: Have you cut the final year free tertiary education yet?

927
00:40:10,560 --> 00:40:13,840
Speaker 2: No, we have not, because we had a coalition commitment

928
00:40:13,880 --> 00:40:16,520
Speaker 2: between the three parties that we would keep.

929
00:40:16,360 --> 00:40:17,200
Speaker 12: It for the final year.

930
00:40:17,239 --> 00:40:17,920
Speaker 5: Who wants it?

931
00:40:18,680 --> 00:40:19,840
Speaker 12: Well, I think New Zealand.

932
00:40:19,600 --> 00:40:22,480
Speaker 2: First were pretty keen on it staying there. And look,

933
00:40:22,520 --> 00:40:24,840
Speaker 2: it's a much narrower policy than it was heither. It

934
00:40:24,920 --> 00:40:26,920
Speaker 2: used to be that everyone was getting a free.

935
00:40:26,719 --> 00:40:27,760
Speaker 12: First year to have a blast.

936
00:40:27,800 --> 00:40:28,759
Speaker 5: It's a waste of money and.

937
00:40:28,880 --> 00:40:30,640
Speaker 2: Now only get it if you get all the way

938
00:40:30,640 --> 00:40:32,479
Speaker 2: to the end of your degree. You've finished your degree

939
00:40:32,520 --> 00:40:33,520
Speaker 2: and you get that final.

940
00:40:33,480 --> 00:40:35,400
Speaker 5: So you could have saved that money. You could have

941
00:40:35,400 --> 00:40:37,600
Speaker 5: put that towards something else, like paying the debt, paying

942
00:40:37,600 --> 00:40:39,480
Speaker 5: down the debt. You could have not done the tweaks

943
00:40:39,520 --> 00:40:41,279
Speaker 5: to the working for families. It's a bunch of stuff

944
00:40:41,280 --> 00:40:41,680
Speaker 5: you could have done.

945
00:40:42,040 --> 00:40:42,640
Speaker 12: I'm really proud.

946
00:40:42,640 --> 00:40:45,359
Speaker 2: Actually last budget we delivered twenty three billion dollars worth

947
00:40:45,360 --> 00:40:48,360
Speaker 2: of savings. This budget twenty one billion dollars worth of savings.

948
00:40:48,400 --> 00:40:49,279
Speaker 12: Our budget at all.

949
00:40:49,440 --> 00:40:52,360
Speaker 2: But our budget is being funded from savings, whereas we

950
00:40:52,400 --> 00:40:55,520
Speaker 2: had a government over the past six years in twenty

951
00:40:55,520 --> 00:40:57,960
Speaker 2: twenty two spent more than nine billion dollars. Do you

952
00:40:58,040 --> 00:41:00,799
Speaker 2: worry about reminding us how crappy they So we are

953
00:41:00,920 --> 00:41:03,960
Speaker 2: really bringing things much tighter in what we're showing in

954
00:41:04,000 --> 00:41:06,000
Speaker 2: our boxes that we're going to get them back in balance.

955
00:41:06,000 --> 00:41:08,560
Speaker 2: We're going to be bringing spending government spending down as

956
00:41:08,560 --> 00:41:10,560
Speaker 2: a proportion of the economy. We're going to be bending

957
00:41:10,600 --> 00:41:11,640
Speaker 2: that debt, but you are.

958
00:41:11,640 --> 00:41:14,000
Speaker 5: Not bringing down government spending. You continue to spend. In

959
00:41:14,080 --> 00:41:16,239
Speaker 5: every single day that you continue to spend, you are

960
00:41:16,280 --> 00:41:17,560
Speaker 5: adding to our national debt.

961
00:41:17,719 --> 00:41:19,719
Speaker 2: We're putting dollars in the right places because there are

962
00:41:19,719 --> 00:41:21,799
Speaker 2: some investments that, if we make them today, are going

963
00:41:21,800 --> 00:41:24,120
Speaker 2: to make us more productive tomorrow. I take the education

964
00:41:24,239 --> 00:41:27,440
Speaker 2: system as an example. If kids are achieving more at school,

965
00:41:27,440 --> 00:41:29,120
Speaker 2: they are going to be better workers. I look at

966
00:41:29,120 --> 00:41:31,760
Speaker 2: the health service. If we don't have good health services

967
00:41:31,800 --> 00:41:35,440
Speaker 2: for people, then that's actually a real push push factor

968
00:41:35,440 --> 00:41:37,480
Speaker 2: that is going to be a problem for many New Zealanders.

969
00:41:37,520 --> 00:41:40,279
Speaker 2: So always striking that balance. How can we make sure

970
00:41:40,320 --> 00:41:42,879
Speaker 2: we're funding the public services that are needed, but we're

971
00:41:42,920 --> 00:41:45,200
Speaker 2: also keeping the books in order. Of course, the alternative, Heather,

972
00:41:45,280 --> 00:41:48,600
Speaker 2: there is an alternative. That's my friend, mister Hopkins. He

973
00:41:49,080 --> 00:41:52,120
Speaker 2: thinks what we should do is get rid of all

974
00:41:52,160 --> 00:41:54,000
Speaker 2: ideas that there is a limit to debt and we

975
00:41:54,040 --> 00:41:57,560
Speaker 2: should just borrow, borrow, borrow, tax, tax tax, and that'll

976
00:41:57,600 --> 00:41:59,840
Speaker 2: mean everything's okay and it's rainbows and uniforms.

977
00:42:00,000 --> 00:42:01,160
Speaker 12: We've rejected that approach.

978
00:42:01,239 --> 00:42:01,680
Speaker 1: That's true.

979
00:42:01,840 --> 00:42:04,200
Speaker 5: Luxon has labeled in mister Bojangles.

980
00:42:03,760 --> 00:42:07,360
Speaker 2: He has indeed, because he's a flip flopper. He just

981
00:42:07,400 --> 00:42:09,600
Speaker 2: goes from one foot to the next. You know, one

982
00:42:09,680 --> 00:42:12,640
Speaker 2: day he's all raging, wanting to bring back the old

983
00:42:12,640 --> 00:42:13,399
Speaker 2: Peguy raging.

984
00:42:13,440 --> 00:42:15,040
Speaker 12: The next day he's not so sure and maybe he

985
00:42:15,080 --> 00:42:16,279
Speaker 12: needs to change.

986
00:42:16,480 --> 00:42:19,040
Speaker 2: One day he's saying that Barbara Edmonds is a great

987
00:42:19,040 --> 00:42:21,319
Speaker 2: finance spokesperson. The next day is throwing her under the

988
00:42:21,320 --> 00:42:23,080
Speaker 2: bus and saying that we shouldn't listen to her when

989
00:42:23,080 --> 00:42:25,120
Speaker 2: she talks about debt, fiskool plans or anything.

990
00:42:25,160 --> 00:42:27,839
Speaker 5: And were are here to talk about you today. Thank you.

991
00:42:27,920 --> 00:42:29,719
Speaker 5: I appreciate it very much. Thank you for your time,

992
00:42:29,719 --> 00:42:30,440
Speaker 5: and thanks for coming here.

993
00:42:30,440 --> 00:42:32,440
Speaker 12: Great to be on the show here, Thank Deliverlu's.

994
00:42:32,000 --> 00:42:38,040
Speaker 5: The finance minister right now, sixteen past five. Hither orre

995
00:42:38,080 --> 00:42:41,359
Speaker 5: they just being super conservative of twenty percent depreciation as

996
00:42:41,400 --> 00:42:44,440
Speaker 5: they are expecting interest rates. Thought, it's not depreciation. What

997
00:42:44,560 --> 00:42:47,480
Speaker 5: it is. It's a tax incentive right up front and

998
00:42:47,520 --> 00:42:49,320
Speaker 5: then you can put your depreciation on top so you

999
00:42:49,320 --> 00:42:51,200
Speaker 5: can get helpful leather with it. And actually, by the way,

1000
00:42:51,239 --> 00:42:53,080
Speaker 5: I've got to text you saying, how's the two hundred

1001
00:42:53,120 --> 00:42:55,120
Speaker 5: million for drilling going to work? We're going to talk

1002
00:42:55,120 --> 00:42:57,160
Speaker 5: about that because that has to be my favorite idea

1003
00:42:57,160 --> 00:43:00,439
Speaker 5: out of this budget. Right now, it's nineteen past five now.

1004
00:43:00,600 --> 00:43:03,240
Speaker 5: They've held their run at event last night at Trust

1005
00:43:03,280 --> 00:43:05,960
Speaker 5: Serena in Auckland. More than a thousand people attended. Two

1006
00:43:05,960 --> 00:43:08,799
Speaker 5: of the guys running at each other needed medical attention afterwards.

1007
00:43:09,040 --> 00:43:13,520
Speaker 5: Former RABBITO George Burgess is here for the competition. Height George,

1008
00:43:13,760 --> 00:43:15,000
Speaker 5: how are those guys all right?

1009
00:43:16,400 --> 00:43:20,720
Speaker 18: Yes, they are, they're doing very well. The two boys

1010
00:43:20,719 --> 00:43:24,600
Speaker 18: who you spoke about who got head nocked there, we

1011
00:43:25,120 --> 00:43:28,280
Speaker 18: had the best medical care. We got them straight into

1012
00:43:28,320 --> 00:43:34,280
Speaker 18: the hospital and they've got twenty four hours. We're watching

1013
00:43:34,280 --> 00:43:36,239
Speaker 18: them for twenty four hours around the clop.

1014
00:43:36,800 --> 00:43:37,759
Speaker 5: Have you got concussion?

1015
00:43:39,880 --> 00:43:41,640
Speaker 6: I'd say so. Yeah, it was a pretty big here.

1016
00:43:42,440 --> 00:43:42,720
Speaker 24: Dude.

1017
00:43:42,719 --> 00:43:44,440
Speaker 5: Why do you guys? Can you explain this to me?

1018
00:43:44,440 --> 00:43:46,239
Speaker 5: Why do you do this? What's the point of this?

1019
00:43:47,960 --> 00:43:48,160
Speaker 6: Hey?

1020
00:43:48,160 --> 00:43:51,960
Speaker 18: Look, a sport or inn a sport and every sport

1021
00:43:52,040 --> 00:43:55,400
Speaker 18: that we have today in our society is two reminders

1022
00:43:56,200 --> 00:43:59,480
Speaker 18: of our warrior past and to simulate warfare in a

1023
00:43:59,520 --> 00:44:03,440
Speaker 18: safe way, and that's exactly what we do. Sometimes things

1024
00:44:03,520 --> 00:44:05,759
Speaker 18: might happen like that, but it's not it's not what

1025
00:44:05,920 --> 00:44:08,520
Speaker 18: we set out to do. And that the competitors know

1026
00:44:08,680 --> 00:44:12,520
Speaker 18: what they're doing, and in comparison to many of the sports,

1027
00:44:12,680 --> 00:44:16,640
Speaker 18: we're actually on the very last scale of in that area.

1028
00:44:17,320 --> 00:44:19,040
Speaker 5: But hold on a second, how can you say it's

1029
00:44:19,040 --> 00:44:21,200
Speaker 5: not what you set out to do. You're literally two

1030
00:44:21,280 --> 00:44:24,240
Speaker 5: dudes running at each other. The course is going to happen.

1031
00:44:25,520 --> 00:44:28,440
Speaker 18: Yes, but if you use the right technique, which is

1032
00:44:28,480 --> 00:44:32,839
Speaker 18: what we we am to implement with our athletes, using

1033
00:44:32,880 --> 00:44:36,880
Speaker 18: your shoulder with the right technique, you know, it's a skill.

1034
00:44:37,200 --> 00:44:37,719
Speaker 6: It's a skill.

1035
00:44:37,800 --> 00:44:39,960
Speaker 5: Are the athletes or are they just folks you pluck

1036
00:44:39,960 --> 00:44:40,520
Speaker 5: off the road?

1037
00:44:41,680 --> 00:44:42,160
Speaker 17: No, they are.

1038
00:44:42,280 --> 00:44:46,360
Speaker 18: You saw the difference last night with the athletes. You know,

1039
00:44:46,400 --> 00:44:48,200
Speaker 18: it's a skill to be able to use your shoulder

1040
00:44:48,280 --> 00:44:54,439
Speaker 18: like that. And as we progress and the game shoe.

1041
00:44:53,880 --> 00:44:55,799
Speaker 5: Some some people just do that when they're walking down

1042
00:44:55,840 --> 00:44:56,160
Speaker 5: the side.

1043
00:44:56,640 --> 00:44:58,880
Speaker 6: Sorry, sorry, do you mind just let me finish?

1044
00:44:59,600 --> 00:45:02,960
Speaker 18: So it's it's it's a technique to be able to

1045
00:45:03,080 --> 00:45:05,360
Speaker 18: use your shoulder in that way. And as we progress

1046
00:45:06,040 --> 00:45:08,520
Speaker 18: every this we're only on our second show, right, so

1047
00:45:08,640 --> 00:45:12,759
Speaker 18: as we progressed, they're going to get more trend on

1048
00:45:12,840 --> 00:45:13,560
Speaker 18: a higher level.

1049
00:45:14,239 --> 00:45:19,120
Speaker 5: Okay, George, what about this is resembles warfare and what

1050
00:45:19,120 --> 00:45:22,160
Speaker 5: what war did We have dudes running at each other.

1051
00:45:25,239 --> 00:45:26,800
Speaker 18: Every war in history?

1052
00:45:26,760 --> 00:45:29,280
Speaker 5: Yeah, but generally they have guns and stuff, well, bayonets.

1053
00:45:29,280 --> 00:45:31,520
Speaker 5: They're going to kill each other with these these two.

1054
00:45:31,719 --> 00:45:34,960
Speaker 18: This is this is this is simular warfare.

1055
00:45:35,040 --> 00:45:36,440
Speaker 23: And every squad that we do.

1056
00:45:36,440 --> 00:45:40,640
Speaker 18: Today is for simulated warfare to remind us of our culture,

1057
00:45:40,760 --> 00:45:43,319
Speaker 18: of our past, and you know that it is still

1058
00:45:43,320 --> 00:45:44,680
Speaker 18: a part of us as humans.

1059
00:45:45,719 --> 00:45:48,600
Speaker 5: All right, George, listen, thank you very much. Look after yourself.

1060
00:45:48,600 --> 00:45:50,640
Speaker 5: I feel like you're going to need it. George Burgess,

1061
00:45:50,920 --> 00:45:57,640
Speaker 5: former RABBITO and Run It Championship League spokesperson. Okay, right,

1062
00:45:57,760 --> 00:45:59,400
Speaker 5: let's deal with the oil and gas next in the

1063
00:45:59,440 --> 00:46:02,040
Speaker 5: desk and absolutely everything coming out of the budget. Hang

1064
00:46:02,040 --> 00:46:03,919
Speaker 5: on attack. It's five twenty two.

1065
00:46:04,200 --> 00:46:07,840
Speaker 1: How much is nikola found under the Mattress budget? Twenty

1066
00:46:07,880 --> 00:46:10,759
Speaker 1: twenty five? On hither do for see Ellen Dry live

1067
00:46:10,840 --> 00:46:12,880
Speaker 1: from Parliament with one New Zealand.

1068
00:46:13,000 --> 00:46:15,919
Speaker 6: Let's get connected youth talk said be Heather.

1069
00:46:15,960 --> 00:46:17,880
Speaker 5: Those guys are idiots as if our hospitals are not

1070
00:46:18,000 --> 00:46:20,719
Speaker 5: under enough pressure. Very good point. Have to agree with you.

1071
00:46:20,719 --> 00:46:22,640
Speaker 5: Five twenty five. Now, I'll tell you what I was

1072
00:46:22,680 --> 00:46:25,400
Speaker 5: amazed sitting in that budget lock up today that not

1073
00:46:25,520 --> 00:46:29,359
Speaker 5: one person, not one person, asked a question about how

1074
00:46:29,400 --> 00:46:31,239
Speaker 5: we're going to sort out our country's debt. There was

1075
00:46:31,280 --> 00:46:33,840
Speaker 5: a question about debt, but it was from Bernard Hacky,

1076
00:46:34,040 --> 00:46:36,399
Speaker 5: and it's the same question he asks pretty much every year.

1077
00:46:36,560 --> 00:46:38,799
Speaker 5: And he asked Nicola Willis why she isn't borrowing more

1078
00:46:38,840 --> 00:46:41,560
Speaker 5: so set him aside. Nobody else asked about it. No

1079
00:46:41,719 --> 00:46:44,439
Speaker 5: questions about how we borrow less, how we pay it down,

1080
00:46:44,440 --> 00:46:46,839
Speaker 5: and our debt is huge. Nikola Willis put this graph

1081
00:46:46,880 --> 00:46:49,480
Speaker 5: up on the projector and it shocked me, actually to

1082
00:46:49,520 --> 00:46:51,400
Speaker 5: see how our debt has grown and where it's going

1083
00:46:51,480 --> 00:46:53,200
Speaker 5: to go, and how little's being done about it. Less

1084
00:46:53,200 --> 00:46:54,960
Speaker 5: than twenty years ago, let me remind you, less than

1085
00:46:54,960 --> 00:46:58,520
Speaker 5: twenty years ago, our debt sat under ten percent of GDP,

1086
00:46:58,840 --> 00:47:00,759
Speaker 5: and that was because Michael Cullen had paid it down.

1087
00:47:00,960 --> 00:47:03,000
Speaker 5: Now it's sitting at above forty percent. It's at about

1088
00:47:03,040 --> 00:47:05,319
Speaker 5: forty two percent, and it's still going to go up.

1089
00:47:05,480 --> 00:47:07,680
Speaker 5: It's not even finished. It's headed up to forty six

1090
00:47:07,760 --> 00:47:09,319
Speaker 5: percent in a few years, and then it's going to

1091
00:47:09,320 --> 00:47:12,080
Speaker 5: start plateauing. Now, Nicholas aim is to get it under

1092
00:47:12,080 --> 00:47:15,120
Speaker 5: forty forty percent eventually, So forty percent is going to

1093
00:47:15,160 --> 00:47:17,520
Speaker 5: be the cap Well, how did that become our new normal?

1094
00:47:17,840 --> 00:47:19,640
Speaker 5: I mean, it wasn't that long ago that Bill English

1095
00:47:19,640 --> 00:47:22,480
Speaker 5: and Grant Robertson were having chats about how to get

1096
00:47:22,480 --> 00:47:24,920
Speaker 5: it to stay at twenty percent, and Robo had to

1097
00:47:24,920 --> 00:47:27,560
Speaker 5: promise to keep it at twenty percent of GDP just

1098
00:47:27,600 --> 00:47:29,560
Speaker 5: for us to take him seriously. Now it's double that

1099
00:47:29,600 --> 00:47:32,800
Speaker 5: we're chilled about it. It costs US nine billion dollars

1100
00:47:32,800 --> 00:47:35,399
Speaker 5: a year just to pay the interest payments. That's enough

1101
00:47:35,400 --> 00:47:37,600
Speaker 5: money to pay for our police, our customs, our Ministry

1102
00:47:37,600 --> 00:47:40,200
Speaker 5: of Justice, and our corrections. Now, if this government was

1103
00:47:40,239 --> 00:47:42,880
Speaker 5: serious about debt, they would cut back that unnecessary spending,

1104
00:47:42,920 --> 00:47:46,880
Speaker 5: take all the Savingszad found and just start plowing it

1105
00:47:46,880 --> 00:47:49,600
Speaker 5: into paying down our debt. Because every year that we

1106
00:47:49,640 --> 00:47:52,680
Speaker 5: are currently spending more than we earn, which we are

1107
00:47:52,719 --> 00:47:54,080
Speaker 5: doing at the moment and which we will be doing

1108
00:47:54,080 --> 00:47:56,960
Speaker 5: for the foreseeable future, we will continue to add to

1109
00:47:57,080 --> 00:47:57,759
Speaker 5: that debt pile.

1110
00:47:58,680 --> 00:48:00,920
Speaker 6: Ever duplus thelo Look.

1111
00:48:00,760 --> 00:48:03,640
Speaker 5: I suppose everybody's tuned in by now to the situation

1112
00:48:03,719 --> 00:48:07,399
Speaker 5: with Donald Trump and Cyril Ramaposa. We're going to talk

1113
00:48:07,440 --> 00:48:09,920
Speaker 5: to the High Commissioner of South Africa after six o'clock.

1114
00:48:09,960 --> 00:48:12,560
Speaker 5: Just get Johnny's take his name is Johnny. Well, we'll

1115
00:48:12,600 --> 00:48:15,440
Speaker 5: have chat to Johnny about what is going on in

1116
00:48:15,520 --> 00:48:17,839
Speaker 5: South Africa, whether there is a problem now, I mean,

1117
00:48:19,120 --> 00:48:20,480
Speaker 5: just go have a little bit of a Google. You'll

1118
00:48:20,520 --> 00:48:24,000
Speaker 5: see that the threat of taking land away from people

1119
00:48:24,000 --> 00:48:26,680
Speaker 5: in South Africa is very real. Government's passed the thing

1120
00:48:26,719 --> 00:48:30,120
Speaker 5: in January where they said they're going to confiscate. Well,

1121
00:48:30,160 --> 00:48:33,839
Speaker 5: that gives them the ability to confiscate land without compensation.

1122
00:48:34,320 --> 00:48:36,640
Speaker 5: And of course who owns the vast majority of land

1123
00:48:36,680 --> 00:48:39,120
Speaker 5: will be white farmers, so you know you can kind

1124
00:48:39,120 --> 00:48:40,880
Speaker 5: of join those dots there. But anyway, we'll have a

1125
00:48:40,960 --> 00:48:43,360
Speaker 5: chat about that after six o'clock. Next up Christine Rankin

1126
00:48:43,680 --> 00:48:45,960
Speaker 5: on taking the doll off the teenagers.

1127
00:48:48,000 --> 00:48:49,239
Speaker 15: Away?

1128
00:48:50,480 --> 00:48:52,400
Speaker 6: Will your wallet have room to breathe?

1129
00:48:53,239 --> 00:48:56,839
Speaker 1: Bungeon twenty twenty five on hither duplessy Ellen Dry Live

1130
00:48:56,960 --> 00:48:59,000
Speaker 1: from Parliament with One New Zealand.

1131
00:48:59,120 --> 00:49:01,279
Speaker 6: Let's get connected news talks. That'd be.

1132
00:49:05,280 --> 00:49:05,560
Speaker 8: All right.

1133
00:49:05,640 --> 00:49:07,680
Speaker 5: As I say, we've got the South African High Commissioner

1134
00:49:07,719 --> 00:49:09,279
Speaker 5: with us after six o'clock on this meeting in the

1135
00:49:09,320 --> 00:49:11,440
Speaker 5: White House. It's just taken place. We are also in

1136
00:49:11,520 --> 00:49:13,200
Speaker 5: the six o'clock how we're going to talk about my

1137
00:49:13,360 --> 00:49:15,799
Speaker 5: other favorite idea in the budget, which is the two

1138
00:49:15,880 --> 00:49:19,319
Speaker 5: hundred million dollars for gas exploration and the basic and

1139
00:49:19,560 --> 00:49:23,040
Speaker 5: how serendipit. What serendipity is this? Yesterday we were talking

1140
00:49:23,040 --> 00:49:25,360
Speaker 5: to the gas guys and we just pitched this idea ourselves,

1141
00:49:25,400 --> 00:49:27,600
Speaker 5: didn't We said, why doesn't the government put some money

1142
00:49:27,600 --> 00:49:29,120
Speaker 5: towards it and then their skin in the game and

1143
00:49:29,160 --> 00:49:30,680
Speaker 5: then you don't have to worry about labor coming and

1144
00:49:30,680 --> 00:49:33,319
Speaker 5: stuffing things up later on. So anyway, they've done it.

1145
00:49:34,080 --> 00:49:36,880
Speaker 5: The only question is is it enough? Because gas exploration

1146
00:49:36,960 --> 00:49:39,680
Speaker 5: costs here like two point three point three billion dollars

1147
00:49:39,760 --> 00:49:42,080
Speaker 5: or thereabouts, so it's a very small stake. But anyway,

1148
00:49:42,080 --> 00:49:43,799
Speaker 5: we will discuss later on. The huddle is going to

1149
00:49:43,840 --> 00:49:45,840
Speaker 5: be with us to discuss too. Right now, it is

1150
00:49:45,880 --> 00:49:47,120
Speaker 5: twenty four away from six.

1151
00:49:48,280 --> 00:49:49,920
Speaker 6: Ever do for c Ellen now.

1152
00:49:49,960 --> 00:49:51,920
Speaker 5: One of the surprises from the budget is the move

1153
00:49:52,000 --> 00:49:54,560
Speaker 5: to kick kids off the doll Eighteen and nineteen year

1154
00:49:54,560 --> 00:49:56,480
Speaker 5: olds will not be eligible for the Job Seeker or

1155
00:49:56,480 --> 00:49:58,799
Speaker 5: for the Emergency Benefit if their parents are able to help.

1156
00:49:59,080 --> 00:50:01,560
Speaker 5: Former WINS boss Christine Rankin is all over this.

1157
00:50:01,800 --> 00:50:07,160
Speaker 24: Hello Christine, Hello Heather, do you like this. Yeah, I

1158
00:50:07,200 --> 00:50:11,000
Speaker 24: love it, I absolutely love it. You know, no eighteen

1159
00:50:11,120 --> 00:50:13,520
Speaker 24: or nineteen year old should be getting a message that

1160
00:50:14,120 --> 00:50:16,840
Speaker 24: if they don't really make much effort, don't worry, the

1161
00:50:16,880 --> 00:50:20,040
Speaker 24: government will fix it for them, and the benefits the

1162
00:50:20,120 --> 00:50:25,479
Speaker 24: road to poverty. It's a terrible, terrible situation to allow

1163
00:50:25,560 --> 00:50:27,560
Speaker 24: them to be in when they should be starting their

1164
00:50:27,600 --> 00:50:29,680
Speaker 24: working life or or studying.

1165
00:50:30,560 --> 00:50:33,280
Speaker 5: How many kids, though, do you think, are at eighteen

1166
00:50:33,360 --> 00:50:36,560
Speaker 5: or nineteen sitting around on the doll while actually living

1167
00:50:36,600 --> 00:50:38,400
Speaker 5: with their parents, and how many of them will actually

1168
00:50:38,400 --> 00:50:40,880
Speaker 5: be living independently in a flat just going away and

1169
00:50:40,920 --> 00:50:41,800
Speaker 5: doing this kind of stuff.

1170
00:50:42,640 --> 00:50:45,200
Speaker 24: And look, they might be. But if that's the case,

1171
00:50:45,320 --> 00:50:48,279
Speaker 24: here is the incentive, just like the other incentives that

1172
00:50:48,360 --> 00:50:50,960
Speaker 24: have been given since this government came to par it's

1173
00:50:50,960 --> 00:50:54,839
Speaker 24: been very serious about welfare and I think very responsible.

1174
00:50:55,080 --> 00:50:57,040
Speaker 24: So if you're not living with your mum and dad,

1175
00:50:57,160 --> 00:50:59,239
Speaker 24: if you're living in a flat, you're going to have

1176
00:50:59,280 --> 00:51:01,920
Speaker 24: to get a job if you want to maintain that lifestyle,

1177
00:51:02,080 --> 00:51:04,160
Speaker 24: or you're going to have to go home. And that

1178
00:51:04,360 --> 00:51:08,960
Speaker 24: is fair and reasonable and responsible and giving exactly the

1179
00:51:09,080 --> 00:51:12,360
Speaker 24: message they need. You know, Labour said to them, come in,

1180
00:51:12,600 --> 00:51:15,280
Speaker 24: all of you, come in. We'll give you absolutely everything

1181
00:51:15,360 --> 00:51:17,120
Speaker 24: and you can have it for as long as you like,

1182
00:51:17,160 --> 00:51:20,080
Speaker 24: and you don't have to do a thing. How disgraceful

1183
00:51:20,200 --> 00:51:23,040
Speaker 24: is that to anyone, let alone young people.

1184
00:51:23,800 --> 00:51:25,560
Speaker 5: Now, the only trouble that I can see with this

1185
00:51:25,800 --> 00:51:28,439
Speaker 5: is that it seems reasonably easy to get around the rules.

1186
00:51:28,480 --> 00:51:30,200
Speaker 5: You just move in with your girlfriend or your boyfriend,

1187
00:51:30,280 --> 00:51:30,600
Speaker 5: don't you.

1188
00:51:31,719 --> 00:51:33,319
Speaker 24: Well, you've got to be married, don't you.

1189
00:51:33,760 --> 00:51:37,719
Speaker 5: Irenion or de facto, and de facto is basically like

1190
00:51:37,960 --> 00:51:39,319
Speaker 5: you and I can be in a de facto if

1191
00:51:39,320 --> 00:51:40,600
Speaker 5: we want to tomorrow.

1192
00:51:40,920 --> 00:51:43,719
Speaker 24: Of course we can. And so if they do have

1193
00:51:44,080 --> 00:51:47,720
Speaker 24: had and I didn't realize that, well, look, you wouldn't

1194
00:51:47,719 --> 00:51:50,160
Speaker 24: take much for your to organize that, whether it was

1195
00:51:50,239 --> 00:51:52,520
Speaker 24: real or not, would it. So I think that that

1196
00:51:52,719 --> 00:51:56,239
Speaker 24: was probably a silly thing to do as part of it.

1197
00:51:56,800 --> 00:52:00,160
Speaker 24: I like the general thrust, I love the message. I

1198
00:52:00,200 --> 00:52:04,120
Speaker 24: think it's really important to the young people in New Zealand.

1199
00:52:04,320 --> 00:52:07,560
Speaker 24: But that isn't out that a lot of people I

1200
00:52:07,600 --> 00:52:09,600
Speaker 24: would suspect would take advantage of.

1201
00:52:10,440 --> 00:52:12,040
Speaker 5: Christine has always good to talk to you. Thank you

1202
00:52:12,120 --> 00:52:15,040
Speaker 5: so much. That's Christine Rankin, former Wins boss. Now, by

1203
00:52:15,040 --> 00:52:18,320
Speaker 5: the way, I was confused earlier with Nikola about why

1204
00:52:18,400 --> 00:52:21,759
Speaker 5: the Prime Minister is calling Chippy bow Jangles. And I've

1205
00:52:21,800 --> 00:52:24,480
Speaker 5: had our text from the highest levels of government. I

1206
00:52:24,480 --> 00:52:27,640
Speaker 5: don't want to say who, but the highest levels of

1207
00:52:27,680 --> 00:52:30,440
Speaker 5: government to try to clarify it. And it's bo jandals,

1208
00:52:30,960 --> 00:52:34,000
Speaker 5: bo jandals because he's flip flopping. That's what the Prime

1209
00:52:34,000 --> 00:52:35,000
Speaker 5: Minister said in parliament.

1210
00:52:35,040 --> 00:52:37,400
Speaker 4: Here it is and of course, mister speaker, the worst

1211
00:52:37,400 --> 00:52:40,440
Speaker 4: thing of all is the constant flip flopping from the

1212
00:52:40,480 --> 00:52:44,120
Speaker 4: man that I call mister bo Jandals, Mister bo Jandals.

1213
00:52:45,000 --> 00:52:48,440
Speaker 1: The huddle with New Zealand Southeby's International Realty, find you

1214
00:52:48,440 --> 00:52:49,920
Speaker 1: all one of a kind on.

1215
00:52:49,880 --> 00:52:51,640
Speaker 5: The huddle of me this evening, Craig Reny of the

1216
00:52:51,640 --> 00:52:54,120
Speaker 5: Sea to you and Philo Riley of Iron Duke Partners in. Craig,

1217
00:52:54,160 --> 00:52:55,680
Speaker 5: you had your hands, your head in your hands. This

1218
00:52:55,760 --> 00:52:56,640
Speaker 5: is just too lame for you.

1219
00:52:56,960 --> 00:52:59,840
Speaker 17: Yeah, not really the kind of high level discourse that

1220
00:53:00,040 --> 00:53:01,040
Speaker 17: we help de feinted in post.

1221
00:53:01,080 --> 00:53:03,360
Speaker 5: Well, listen, when you get into Parliament, I'm going to

1222
00:53:03,400 --> 00:53:05,200
Speaker 5: hold you. I'm going to hold this as your standard

1223
00:53:05,200 --> 00:53:07,239
Speaker 5: and if you do lame dad jokes, We're going to

1224
00:53:07,280 --> 00:53:10,120
Speaker 5: put the same thing to you. Okay, deal. I love it.

1225
00:53:10,280 --> 00:53:11,600
Speaker 5: What did you think phill of the budget?

1226
00:53:12,800 --> 00:53:15,640
Speaker 13: Is she business to Zealand use the word credible and

1227
00:53:15,840 --> 00:53:17,279
Speaker 13: that's my old almal matters, you know, And I thought

1228
00:53:17,280 --> 00:53:19,680
Speaker 13: there was actually pretty good, pretty good description of that

1229
00:53:19,760 --> 00:53:23,120
Speaker 13: to thread the needle between fiscal consolidation, start to giving

1230
00:53:23,120 --> 00:53:24,680
Speaker 13: that debt being paid down a well that's going to

1231
00:53:24,680 --> 00:53:26,160
Speaker 13: be a year or two away, and at the same

1232
00:53:26,200 --> 00:53:28,120
Speaker 13: time stay true to their growth agender. I think they

1233
00:53:28,120 --> 00:53:30,280
Speaker 13: did a reasonable job of that. There'll be some complaints,

1234
00:53:30,280 --> 00:53:32,640
Speaker 13: but certainly I think business peop would be prett supportedl I.

1235
00:53:32,600 --> 00:53:34,560
Speaker 5: Think that tax incentive thing is enough for growth.

1236
00:53:34,600 --> 00:53:37,759
Speaker 13: Yeah, it's actually quite good because it's not just the

1237
00:53:37,880 --> 00:53:41,360
Speaker 13: challenge with a depreciation just on capital is if you

1238
00:53:41,640 --> 00:53:43,239
Speaker 13: only put the depreciation on things you can hit a

1239
00:53:43,280 --> 00:53:45,160
Speaker 13: handle with, like a machine or a car or a

1240
00:53:45,160 --> 00:53:47,440
Speaker 13: truck or whatever, that misses out quite a bit of

1241
00:53:47,480 --> 00:53:49,359
Speaker 13: the economy. Now, so the fact that they're also doing

1242
00:53:49,360 --> 00:53:51,719
Speaker 13: it on software and it and stuff that that really

1243
00:53:51,760 --> 00:53:52,360
Speaker 13: makes the difference.

1244
00:53:52,400 --> 00:53:52,520
Speaker 24: Bill.

1245
00:53:52,560 --> 00:53:54,520
Speaker 5: I mean, you talk about growth, what she said, half

1246
00:53:54,560 --> 00:53:56,480
Speaker 5: of it is super charged in the first five years,

1247
00:53:56,520 --> 00:53:58,680
Speaker 5: so that means we get point five percent of growth

1248
00:53:59,040 --> 00:54:01,000
Speaker 5: over five years point one point one point.

1249
00:54:01,040 --> 00:54:04,360
Speaker 13: That's nothing, but it is it'll actually help build confidence

1250
00:54:04,400 --> 00:54:06,239
Speaker 13: that people can investment. I was just thinking, I was

1251
00:54:06,280 --> 00:54:07,920
Speaker 13: just talking my staff today, what we what can we

1252
00:54:07,960 --> 00:54:10,600
Speaker 13: now buy? You know, because what's going on all all

1253
00:54:10,640 --> 00:54:12,399
Speaker 13: these policies have an impact on it for a short

1254
00:54:12,440 --> 00:54:15,000
Speaker 13: time because eventually starts to become just what we do

1255
00:54:15,040 --> 00:54:17,440
Speaker 13: around here. So what if I was a sensible government,

1256
00:54:17,480 --> 00:54:19,160
Speaker 13: you'd had that, you'd have it for four or five years,

1257
00:54:19,160 --> 00:54:20,279
Speaker 13: and then you'd change it, you do something.

1258
00:54:20,280 --> 00:54:22,120
Speaker 5: The only reason I'm picking at this is because Trump

1259
00:54:22,160 --> 00:54:25,960
Speaker 5: and Rishie Sunak both went one hundred percent time limited apparently, right,

1260
00:54:26,000 --> 00:54:28,239
Speaker 5: So it just caused everybody to feel like they had

1261
00:54:28,239 --> 00:54:31,160
Speaker 5: to invest immediately while their option was open for that

1262
00:54:31,200 --> 00:54:33,800
Speaker 5: financial year, and they really got significant growth.

1263
00:54:33,840 --> 00:54:36,400
Speaker 13: Yeah, you'll also get pointless growth. Someone will invest just

1264
00:54:36,440 --> 00:54:37,960
Speaker 13: because they can get one hundred percent back. So you

1265
00:54:38,040 --> 00:54:40,200
Speaker 13: want you want to incentivize growth, but you want to

1266
00:54:40,200 --> 00:54:42,120
Speaker 13: make that a logical pathway so that I just don't

1267
00:54:42,120 --> 00:54:43,920
Speaker 13: go and buy five new computers because that's the pointless.

1268
00:54:43,920 --> 00:54:46,239
Speaker 13: That's not productivity growth, that's that's.

1269
00:54:45,719 --> 00:54:46,760
Speaker 6: Actually a very fair point.

1270
00:54:47,320 --> 00:54:50,080
Speaker 17: We saw during COVID there was a very similar type

1271
00:54:50,120 --> 00:54:52,960
Speaker 17: of project in order to encourage business confidence. What you

1272
00:54:52,960 --> 00:54:56,719
Speaker 17: saw was businesses bringing forward investment that would have happened anywhere. Yeah,

1273
00:54:56,800 --> 00:54:59,400
Speaker 17: just simply to get ahold of the tax benefit, so

1274
00:54:59,480 --> 00:55:01,680
Speaker 17: if you allowed over a longer period time. But it

1275
00:55:01,719 --> 00:55:04,480
Speaker 17: actually does that. The challenge I have is whether or

1276
00:55:04,520 --> 00:55:06,520
Speaker 17: not it's really going to shift the needle, as you say,

1277
00:55:06,560 --> 00:55:09,560
Speaker 17: in terms of our productivity and our growth problems. It's

1278
00:55:09,640 --> 00:55:13,200
Speaker 17: quite small levels of change. Yes, it's an encouraging sign.

1279
00:55:13,480 --> 00:55:15,760
Speaker 17: We want to see more investment in plant and equipment

1280
00:55:15,760 --> 00:55:19,200
Speaker 17: and productivity, but that also means more investment in skills. Yeah,

1281
00:55:19,200 --> 00:55:21,920
Speaker 17: it also means more investment, you know, in the population.

1282
00:55:22,280 --> 00:55:25,879
Speaker 17: And we've just increased tuition fees by six percent. We've

1283
00:55:25,960 --> 00:55:27,480
Speaker 17: just made a bunch of other changes that have made

1284
00:55:27,520 --> 00:55:30,680
Speaker 17: it slightly harder to get into education. And so that's

1285
00:55:30,719 --> 00:55:32,719
Speaker 17: the challenge is to get all those settings right at

1286
00:55:32,719 --> 00:55:33,160
Speaker 17: the same time.

1287
00:55:33,200 --> 00:55:35,120
Speaker 13: And they didn't induce much on science, for example, which

1288
00:55:35,160 --> 00:55:38,960
Speaker 13: is another one. Yeah, there was Actually they're just paying

1289
00:55:38,960 --> 00:55:41,359
Speaker 13: for CALA and changes and so on, so no real

1290
00:55:41,440 --> 00:55:44,279
Speaker 13: new investment. So hopefully that's next year, hopefully. But yeah,

1291
00:55:44,320 --> 00:55:45,680
Speaker 13: I mean it's a use what I'm not criticistic, it's

1292
00:55:45,760 --> 00:55:47,480
Speaker 13: usefuly for its bigger than I would have expected, but

1293
00:55:47,880 --> 00:55:49,440
Speaker 13: to Christ's point, that could be more and I hope

1294
00:55:49,440 --> 00:55:49,680
Speaker 13: they do.

1295
00:55:49,920 --> 00:55:50,040
Speaker 24: OK.

1296
00:55:50,160 --> 00:55:51,080
Speaker 5: And what do you think of the bout?

1297
00:55:51,680 --> 00:55:54,360
Speaker 17: Well, obviously from the cty u's perspective, our big concern

1298
00:55:54,480 --> 00:55:56,960
Speaker 17: was the taking of the pay equity money. You know,

1299
00:55:56,960 --> 00:55:59,640
Speaker 17: there's twelve point eight billion dollars been taken from that constant,

1300
00:55:59,680 --> 00:56:03,040
Speaker 17: from that tingency. You know that works out at about

1301
00:56:03,520 --> 00:56:05,719
Speaker 17: three hundred and sixty thousand dollars a day or six

1302
00:56:05,800 --> 00:56:10,160
Speaker 17: thousand dollars essentially, and how have been taken from those workers?

1303
00:56:10,600 --> 00:56:12,360
Speaker 17: We wanted to see that if it was going to

1304
00:56:12,360 --> 00:56:14,560
Speaker 17: be taken, then expensed in things that would make a

1305
00:56:14,600 --> 00:56:18,960
Speaker 17: real difference to the affected workforces. Instead, we didn't see that.

1306
00:56:19,560 --> 00:56:23,320
Speaker 17: We saw benefits being taken from eighteen nineteen year olds. Fine,

1307
00:56:23,760 --> 00:56:27,160
Speaker 17: but there's no clarity as to what parental levels of

1308
00:56:27,200 --> 00:56:29,360
Speaker 17: responsibility look like. It looks like decisions are yet to

1309
00:56:29,440 --> 00:56:29,880
Speaker 17: be made.

1310
00:56:30,160 --> 00:56:32,279
Speaker 5: Yes, that was weird. I thought that was weird. Did

1311
00:56:32,320 --> 00:56:33,480
Speaker 5: you not think that was I thought it was very

1312
00:56:33,480 --> 00:56:35,560
Speaker 5: stitch to have made. Can you go and announce that

1313
00:56:35,600 --> 00:56:37,480
Speaker 5: you're going to take the doll off eighteen and nineteen

1314
00:56:37,520 --> 00:56:38,719
Speaker 5: year olds and it's going to slave you what was

1315
00:56:38,719 --> 00:56:40,680
Speaker 5: it one hundred and sixty three million dollars a year

1316
00:56:41,040 --> 00:56:43,000
Speaker 5: or a four years? Sorry, but then you don't know

1317
00:56:43,040 --> 00:56:44,040
Speaker 5: quite how the package.

1318
00:56:43,760 --> 00:56:45,840
Speaker 17: Were absolutely and from a technical perspective, in order to

1319
00:56:45,880 --> 00:56:48,880
Speaker 17: be able to forecast the saving, you need to be

1320
00:56:48,920 --> 00:56:50,920
Speaker 17: able to know how many people are not going to

1321
00:56:50,960 --> 00:56:51,720
Speaker 17: receive that benefit.

1322
00:56:51,840 --> 00:56:54,319
Speaker 5: Yees now, Craig, you've worked on badgets right, sadly, So

1323
00:56:54,400 --> 00:56:56,319
Speaker 5: what happened here? Let me just make this up at

1324
00:56:56,360 --> 00:56:56,920
Speaker 5: the last minute.

1325
00:56:57,040 --> 00:56:59,279
Speaker 17: Honest answer is I don't know. My guess is that

1326
00:56:59,320 --> 00:57:02,239
Speaker 17: they've made then assumption about the number of people who

1327
00:57:02,280 --> 00:57:05,080
Speaker 17: won't be receiving that benefit, but they've yet to make

1328
00:57:05,200 --> 00:57:06,200
Speaker 17: final decisions.

1329
00:57:06,239 --> 00:57:08,640
Speaker 5: But why would you not have made final decisions? Somebody

1330
00:57:09,239 --> 00:57:10,719
Speaker 5: don't know, genuinely don't know.

1331
00:57:11,920 --> 00:57:14,239
Speaker 17: My guess is that the politics of that is that

1332
00:57:14,239 --> 00:57:16,640
Speaker 17: they're still working out exactly how they're going to do

1333
00:57:16,680 --> 00:57:18,680
Speaker 17: that and to how they're going to communicate it, and

1334
00:57:18,760 --> 00:57:21,160
Speaker 17: they probably didn't want that to be a side show

1335
00:57:21,960 --> 00:57:23,480
Speaker 17: when they were making the decisions today.

1336
00:57:23,560 --> 00:57:23,960
Speaker 6: Yeah.

1337
00:57:24,040 --> 00:57:26,120
Speaker 13: Now, it's a bit with lots of governments there where

1338
00:57:26,120 --> 00:57:27,560
Speaker 13: you make a bit of a budget statement, it's a

1339
00:57:27,560 --> 00:57:30,040
Speaker 13: bit of whoplar in Cloud.

1340
00:57:30,200 --> 00:57:32,400
Speaker 5: Had the time to finish it is that what it is?

1341
00:57:32,440 --> 00:57:34,560
Speaker 13: Well, it's also because it is a bit complicated to

1342
00:57:34,560 --> 00:57:36,080
Speaker 13: try and work it out, and you're also working with

1343
00:57:36,080 --> 00:57:40,120
Speaker 13: a set of officials with incomplete data and trying to

1344
00:57:40,120 --> 00:57:42,000
Speaker 13: shift a big ship around to say what would this mean?

1345
00:57:42,040 --> 00:57:44,200
Speaker 13: I mean, Amy, Steve's got a lot on So it's

1346
00:57:44,640 --> 00:57:46,600
Speaker 13: I think it's a forgivable thing and it will hold

1347
00:57:46,600 --> 00:57:47,880
Speaker 13: them to account if it's utterly wrong.

1348
00:57:47,880 --> 00:57:48,200
Speaker 6: Of course.

1349
00:57:48,400 --> 00:57:49,800
Speaker 17: The other thing is that there were a number of

1350
00:57:49,840 --> 00:57:51,960
Speaker 17: other savings and changes in say the MSD, you know,

1351
00:57:52,000 --> 00:57:55,200
Speaker 17: the welfare systems, and these are complicated systems that work together,

1352
00:57:55,800 --> 00:57:58,080
Speaker 17: and so you need to make all these should make

1353
00:57:58,120 --> 00:57:59,960
Speaker 17: all these decisions at want so you can work out

1354
00:58:00,040 --> 00:58:02,840
Speaker 17: what's really happening. As Phil said, time will tell whether

1355
00:58:02,920 --> 00:58:05,520
Speaker 17: or not we actually see some real unintended consequences of

1356
00:58:05,560 --> 00:58:06,120
Speaker 17: that decision.

1357
00:58:06,200 --> 00:58:07,480
Speaker 5: Yeah, all right, we'll take a break. I want to

1358
00:58:07,480 --> 00:58:09,400
Speaker 5: talk to you about key we Sabernicks at sixteen away

1359
00:58:09,400 --> 00:58:10,160
Speaker 5: from six.

1360
00:58:11,160 --> 00:58:15,440
Speaker 1: The Huddle with New Zealand Southeby's International Realty achieve extraordinary

1361
00:58:15,440 --> 00:58:17,200
Speaker 1: results with unparallel reach.

1362
00:58:17,720 --> 00:58:20,160
Speaker 5: Right back with the Huddle, Craig Grinny and Phil O'Reilly, Craig,

1363
00:58:20,200 --> 00:58:21,760
Speaker 5: what did you make of the key we saber changes.

1364
00:58:21,800 --> 00:58:23,400
Speaker 5: I reckon they don't go far enough. I would to

1365
00:58:23,400 --> 00:58:24,400
Speaker 5: cut them for evoritebody.

1366
00:58:25,200 --> 00:58:26,960
Speaker 17: The concern I have for the qvciver stuff is that

1367
00:58:27,000 --> 00:58:31,440
Speaker 17: it really impacts low income New Zealanders. Einstein famously said

1368
00:58:31,440 --> 00:58:33,840
Speaker 17: the most powerful force in the universe wasn't gravity, it

1369
00:58:33,880 --> 00:58:37,600
Speaker 17: was compound interest, and even small amounts of change for

1370
00:58:37,800 --> 00:58:40,080
Speaker 17: low income groups can make a real difference to the

1371
00:58:40,120 --> 00:58:42,600
Speaker 17: amount that they get to save over time. The extension

1372
00:58:42,680 --> 00:58:46,360
Speaker 17: to seventeen, sixteen, seventy year olds, that's good, yep. But

1373
00:58:46,720 --> 00:58:49,360
Speaker 17: the challenge we have is that even small changes make

1374
00:58:49,440 --> 00:58:51,640
Speaker 17: big differences, and we end up paying for it anyway

1375
00:58:51,840 --> 00:58:54,160
Speaker 17: later on, because we pay for it either through additional

1376
00:58:54,200 --> 00:58:56,120
Speaker 17: support or housing, sport over other things.

1377
00:58:56,120 --> 00:58:58,320
Speaker 5: So the thing about it is we are actually giving

1378
00:58:58,320 --> 00:59:00,160
Speaker 5: these people the pension, right, We're all going to get

1379
00:59:00,200 --> 00:59:04,080
Speaker 5: the paintient hopefully whenever we hit sixty five, so we

1380
00:59:04,240 --> 00:59:06,600
Speaker 5: basically we're double subsidizing this now.

1381
00:59:06,640 --> 00:59:09,520
Speaker 17: But the more we can make savings now, the more

1382
00:59:09,560 --> 00:59:12,200
Speaker 17: that we can encourage a culture of saving now, the

1383
00:59:12,240 --> 00:59:15,240
Speaker 17: more sustainable the pension system will be in the future.

1384
00:59:15,360 --> 00:59:17,960
Speaker 17: And importantly, the deeper the capital we'll have in New

1385
00:59:18,040 --> 00:59:21,520
Speaker 17: Zealand to support businesses, to support other investments. You only

1386
00:59:21,560 --> 00:59:23,720
Speaker 17: need to go to Australia where they've got enormous pension

1387
00:59:23,800 --> 00:59:25,960
Speaker 17: industries and they've got great public transport.

1388
00:59:26,160 --> 00:59:29,080
Speaker 5: And how much government contribution is there in Australia.

1389
00:59:29,360 --> 00:59:32,760
Speaker 17: So there's there's a government contribution to the employers pay

1390
00:59:32,840 --> 00:59:35,600
Speaker 17: twelve percent overall. If we want to move to a

1391
00:59:35,640 --> 00:59:38,360
Speaker 17: system where in New Zealand where employers are paying twelve percent,

1392
00:59:38,440 --> 00:59:43,320
Speaker 17: I'm thoroughly behind you. They don't pay anything at all,

1393
00:59:42,880 --> 00:59:46,080
Speaker 17: but in terms of the but also we only have

1394
00:59:46,120 --> 00:59:49,280
Speaker 17: a three percent currently rising to four percent other time

1395
00:59:49,880 --> 00:59:54,200
Speaker 17: employer contributions, so they can offset that on that site.

1396
00:59:54,520 --> 00:59:57,240
Speaker 17: But in terms of New Zealand where even those small

1397
00:59:57,320 --> 01:00:00,560
Speaker 17: changes I worry for low incomes for other income groups.

1398
01:00:00,680 --> 01:00:03,120
Speaker 17: I think you know, it makes pretty marginal differences for

1399
01:00:03,160 --> 01:00:05,000
Speaker 17: low income workers. It really does make a difference.

1400
01:00:05,400 --> 01:00:07,200
Speaker 13: In Australia, you get lots of text benefits by the way,

1401
01:00:07,240 --> 01:00:10,000
Speaker 13: so that's the way that Australian government leads into it. Well,

1402
01:00:10,120 --> 01:00:11,960
Speaker 13: I'm interested by the fact I agree with the means

1403
01:00:12,000 --> 01:00:14,320
Speaker 13: testing of it. How Gooble you could have taken it

1404
01:00:14,360 --> 01:00:16,920
Speaker 13: all away, but by buy Craig's point for the time being,

1405
01:00:16,960 --> 01:00:19,560
Speaker 13: at least until the until the overall till till those

1406
01:00:19,600 --> 01:00:22,000
Speaker 13: co payments come up a bit. So I think they've

1407
01:00:22,040 --> 01:00:25,360
Speaker 13: probably got that about right. If you'd asked me this

1408
01:00:25,440 --> 01:00:27,800
Speaker 13: question ten years ago, would employers support come from three

1409
01:00:27,840 --> 01:00:29,080
Speaker 13: to four? I would have said no when I was

1410
01:00:29,080 --> 01:00:31,960
Speaker 13: a business New Zealand. Right now, actually you didn't see

1411
01:00:31,960 --> 01:00:35,360
Speaker 13: any comment from them today. Actually, because the employers now

1412
01:00:35,600 --> 01:00:37,640
Speaker 13: kind of buy it. They've seen the benefit of it.

1413
01:00:38,400 --> 01:00:40,520
Speaker 13: They really like the fact that they can have a

1414
01:00:40,560 --> 01:00:43,240
Speaker 13: conversation with their new people about that. They feel as

1415
01:00:43,240 --> 01:00:45,480
Speaker 13: though they're helping provide. So I actually think employers will

1416
01:00:45,520 --> 01:00:48,320
Speaker 13: support four and four, and I think they'll actually support

1417
01:00:48,400 --> 01:00:50,560
Speaker 13: more than that over time if it's well signaled. So actually,

1418
01:00:50,560 --> 01:00:52,880
Speaker 13: I think the whole debate is changing. Where we've still

1419
01:00:52,920 --> 01:00:55,360
Speaker 13: got it wrong is not means testing national super But

1420
01:00:55,440 --> 01:00:57,400
Speaker 13: that's a debate that we'll have to have some of

1421
01:00:57,400 --> 01:00:59,360
Speaker 13: the vision. I can see. I can be so old

1422
01:00:59,360 --> 01:01:00,800
Speaker 13: because I don't have to about that, because I'm old

1423
01:01:00,880 --> 01:01:02,320
Speaker 13: enough to get up with that worry about it. But yeah,

1424
01:01:02,320 --> 01:01:03,360
Speaker 13: I think I think we do have to have a

1425
01:01:03,360 --> 01:01:06,840
Speaker 13: conversation about rebalancing that whole issue, and I think we've

1426
01:01:06,920 --> 01:01:10,600
Speaker 13: just started to do that today because we've unfrozen Kii

1427
01:01:10,640 --> 01:01:13,200
Speaker 13: Saber as a public policy debate. And if I was

1428
01:01:13,560 --> 01:01:15,680
Speaker 13: the finance and Super sick or, I'd be now saying, well,

1429
01:01:15,720 --> 01:01:17,320
Speaker 13: what else can we do about Super?

1430
01:01:17,440 --> 01:01:19,640
Speaker 17: The one thing I really want to as I support

1431
01:01:19,640 --> 01:01:21,120
Speaker 17: you in that because I think, you know, if businesses

1432
01:01:21,120 --> 01:01:23,360
Speaker 17: are going to invest more, that's fantastic. There is a

1433
01:01:23,400 --> 01:01:26,240
Speaker 17: loophole in the current proposals which does have my concern,

1434
01:01:26,280 --> 01:01:29,280
Speaker 17: which is that an employee can choose he says with

1435
01:01:29,360 --> 01:01:32,000
Speaker 17: air quotes to go back to three percent, and if

1436
01:01:32,040 --> 01:01:34,080
Speaker 17: they do, their employer gets to.

1437
01:01:34,040 --> 01:01:36,000
Speaker 5: Go back to fay. Do you think there'll be pressure.

1438
01:01:36,120 --> 01:01:38,240
Speaker 17: I think you'll see a lot of contracts pre written

1439
01:01:38,320 --> 01:01:41,680
Speaker 17: seeing I agree to only go to three percent and

1440
01:01:41,720 --> 01:01:43,840
Speaker 17: as a consequence, the employer and he gets to go

1441
01:01:44,200 --> 01:01:44,880
Speaker 17: to three percent.

1442
01:01:44,960 --> 01:01:46,760
Speaker 13: Yeah, I'd actually make that compulsory. I actually say to

1443
01:01:46,760 --> 01:01:49,680
Speaker 13: the employers it's for for the first time, it's voluntary,

1444
01:01:49,680 --> 01:01:51,280
Speaker 13: but a year after that it's compulsory. I actually do

1445
01:01:51,320 --> 01:01:53,640
Speaker 13: that because, as I say, I think the employment now

1446
01:01:53,680 --> 01:01:56,240
Speaker 13: employers will abuse me all night, no doubt, But I

1447
01:01:56,320 --> 01:01:58,160
Speaker 13: actually think employers are up for this. And when I

1448
01:01:58,480 --> 01:02:01,720
Speaker 13: talk to them, they they see the Australian situation and

1449
01:02:01,720 --> 01:02:03,880
Speaker 13: they see exactly what Craig's talking about this and VISPA

1450
01:02:03,920 --> 01:02:06,160
Speaker 13: and infrastructure that comes from the stuff and that and

1451
01:02:06,240 --> 01:02:08,480
Speaker 13: the kind of the national security and feeling of well

1452
01:02:08,480 --> 01:02:10,320
Speaker 13: being that comes from it. So I think they're up

1453
01:02:10,320 --> 01:02:11,480
Speaker 13: for it, and I think we shall push it.

1454
01:02:11,480 --> 01:02:12,680
Speaker 17: Hit because one of the things we really need to

1455
01:02:12,720 --> 01:02:14,640
Speaker 17: do in news in with our key receiver scheme is

1456
01:02:14,880 --> 01:02:17,560
Speaker 17: eighty percent of our key receiver funds are actually invested overseas.

1457
01:02:17,720 --> 01:02:18,800
Speaker 5: Oh yeah, and one of.

1458
01:02:18,760 --> 01:02:20,400
Speaker 17: The things we should be looking at is if funds

1459
01:02:20,400 --> 01:02:22,320
Speaker 17: are going to become more mandatory, if there's going to

1460
01:02:22,360 --> 01:02:24,600
Speaker 17: be more put in, how can we make sure more

1461
01:02:24,680 --> 01:02:27,560
Speaker 17: of that is being invested in New Zealand, so where

1462
01:02:27,560 --> 01:02:29,040
Speaker 17: benefiting from that growth.

1463
01:02:28,840 --> 01:02:31,080
Speaker 13: And helping having in vistible proposition.

1464
01:02:31,560 --> 01:02:33,440
Speaker 5: You have agreed so much with each other that I

1465
01:02:33,480 --> 01:02:35,960
Speaker 5: think feel that when Craig becomes an MP, you should

1466
01:02:35,960 --> 01:02:39,080
Speaker 5: become his literatory, just as a side.

1467
01:02:38,840 --> 01:02:42,000
Speaker 13: Hasle I might even for Andrew Little Well.

1468
01:02:41,680 --> 01:02:45,840
Speaker 5: I would you, okay, very quickly, because I've only gone

1469
01:02:45,840 --> 01:02:49,400
Speaker 5: about a minute least, welcome you to this save he's

1470
01:02:49,400 --> 01:02:53,720
Speaker 5: getting the labor ros. I haven't got very long, so

1471
01:02:53,800 --> 01:02:56,200
Speaker 5: just give me your stupid little names for the budget, please, Craig.

1472
01:02:56,040 --> 01:02:59,560
Speaker 17: You first, the reverse robin Hood budget. It's taking from

1473
01:02:59,600 --> 01:03:01,800
Speaker 17: the from the poor and giving to the rich.

1474
01:03:01,960 --> 01:03:03,560
Speaker 5: Well, the rich is not feeling it because the rich

1475
01:03:03,680 --> 01:03:05,880
Speaker 5: just got their key we save and contributions cut off.

1476
01:03:05,880 --> 01:03:07,480
Speaker 13: I think it's the needle. I think they've done a

1477
01:03:07,480 --> 01:03:09,720
Speaker 13: good job of trying to thread that needle between growth

1478
01:03:09,760 --> 01:03:10,760
Speaker 13: and consolidation.

1479
01:03:10,880 --> 01:03:11,680
Speaker 6: So good for them.

1480
01:03:11,880 --> 01:03:14,560
Speaker 5: Thank you both, really appreciate it. I'm enjoying this marriage,

1481
01:03:14,600 --> 01:03:17,040
Speaker 5: this political marriage that's happening right now. Craig Rennie the

1482
01:03:17,080 --> 01:03:19,760
Speaker 5: CTO in Philo Raleyvine Duke Partners and say it away

1483
01:03:19,800 --> 01:03:20,200
Speaker 5: from six.

1484
01:03:21,240 --> 01:03:24,520
Speaker 1: It's the Heather Duper Cell and Drive Full Show podcast

1485
01:03:24,560 --> 01:03:27,880
Speaker 1: on my Art Radio powered by news talk Zebbie.

1486
01:03:30,600 --> 01:03:30,800
Speaker 15: High.

1487
01:03:30,800 --> 01:03:34,200
Speaker 5: Heather Australian superannuation is not taxed when it's transferred from

1488
01:03:34,280 --> 01:03:37,120
Speaker 5: pay Heather, correct me if I'm wrong. But a de

1489
01:03:37,200 --> 01:03:41,960
Speaker 5: facto relationship legally is co habitating for three years or more. Look,

1490
01:03:42,320 --> 01:03:44,280
Speaker 5: this is what I thought, and this is my friend.

1491
01:03:44,360 --> 01:03:46,760
Speaker 5: Rachel likes to listen to the show and send me

1492
01:03:46,840 --> 01:03:49,600
Speaker 5: just aggressive texts about facts that she thinks I get wrong,

1493
01:03:49,640 --> 01:03:51,800
Speaker 5: and I got one of those from her today. I

1494
01:03:51,920 --> 01:03:55,160
Speaker 5: have double checked this and it does appear. Look for

1495
01:03:55,280 --> 01:03:58,320
Speaker 5: legal reasons. I think once you are living, when you're

1496
01:03:58,360 --> 01:04:01,880
Speaker 5: living with somebody in a de facto relationship, if that

1497
01:04:01,960 --> 01:04:05,640
Speaker 5: little money hungry person wants to come after your assets,

1498
01:04:05,720 --> 01:04:07,800
Speaker 5: you have to have been together for a significant period

1499
01:04:07,840 --> 01:04:10,000
Speaker 5: of time, being three years, before they can actually claim

1500
01:04:10,040 --> 01:04:12,880
Speaker 5: half your stuff. But I'm not sure from what I

1501
01:04:12,880 --> 01:04:16,360
Speaker 5: read online that you only get to call them your

1502
01:04:16,360 --> 01:04:18,000
Speaker 5: de facto partner at three years, do you know what

1503
01:04:18,040 --> 01:04:19,920
Speaker 5: I mean? Like, they can be your de facto partner

1504
01:04:20,120 --> 01:04:21,760
Speaker 5: from the minute that you move in together. If you

1505
01:04:21,840 --> 01:04:24,320
Speaker 5: are moving in to live together, they are your de

1506
01:04:24,360 --> 01:04:26,400
Speaker 5: facto partner. From what I understand, it's only at the

1507
01:04:26,400 --> 01:04:27,960
Speaker 5: three year mark that they can actually get out of

1508
01:04:27,960 --> 01:04:30,320
Speaker 5: your stuff. But look, maybe maybe the government puts some

1509
01:04:30,400 --> 01:04:32,880
Speaker 5: rules around it so Johnny can't just get his girlfriend

1510
01:04:32,960 --> 01:04:34,720
Speaker 5: Cindy in and go Now give me the dull. Do

1511
01:04:34,720 --> 01:04:35,160
Speaker 5: you know what I mean?

1512
01:04:35,480 --> 01:04:39,160
Speaker 11: That's constitute legal advice or relationship advice one hundred percent.

1513
01:04:39,280 --> 01:04:41,880
Speaker 5: I don't know. I just googled it, that's all. So

1514
01:04:41,960 --> 01:04:44,080
Speaker 5: that's the kind of advice that I've given you now.

1515
01:04:44,440 --> 01:04:47,040
Speaker 5: Laura the German opens the door just before. Because we're

1516
01:04:47,080 --> 01:04:49,520
Speaker 5: in the in Parliament, they don't stick us in anywhere nice.

1517
01:04:49,520 --> 01:04:51,200
Speaker 5: They're like, oh, look at these fly by nighters. They

1518
01:04:51,200 --> 01:04:52,880
Speaker 5: can go in the old post office and stick them

1519
01:04:52,880 --> 01:04:55,720
Speaker 5: in there. So anyway, I was complaining about the tea before.

1520
01:04:55,720 --> 01:04:58,800
Speaker 5: About an hour ago, Laura opened the door and there

1521
01:04:58,880 --> 01:05:02,520
Speaker 5: is somebody believe has left a little glad wrap box

1522
01:05:02,560 --> 01:05:08,760
Speaker 5: of Oh no, okay, yeah, isn't that lovely? Well, okay,

1523
01:05:08,920 --> 01:05:12,360
Speaker 5: we thought it was the Act Party because somebody's dropped

1524
01:05:12,400 --> 01:05:15,920
Speaker 5: off a container of tea with a little act thing

1525
01:05:15,960 --> 01:05:18,520
Speaker 5: on it. But Simon from the Act Party says it

1526
01:05:18,560 --> 01:05:20,440
Speaker 5: wasn't them, so they're not going to get the credit.

1527
01:05:21,040 --> 01:05:22,440
Speaker 5: But I do get a nice little act badge I

1528
01:05:22,480 --> 01:05:24,240
Speaker 5: was supposed to do what with I don't really know.

1529
01:05:25,200 --> 01:05:27,919
Speaker 5: Somebody will have to wear that. We're going to talk

1530
01:05:28,240 --> 01:05:29,920
Speaker 5: after six o'clock about this gas thing I told you

1531
01:05:29,920 --> 01:05:33,000
Speaker 5: about the gassing. Two hundred million dollars been set aside

1532
01:05:33,320 --> 01:05:36,480
Speaker 5: for the Crown to co invest in gas exploration. The

1533
01:05:36,520 --> 01:05:39,320
Speaker 5: idea behind this is basically so that if the Crown

1534
01:05:39,320 --> 01:05:40,720
Speaker 5: has skin in the game, then we can get the

1535
01:05:40,760 --> 01:05:42,640
Speaker 5: investors back in and they can start drilling for gas

1536
01:05:42,720 --> 01:05:44,360
Speaker 5: and stuff like that. We're going to talk about whether

1537
01:05:44,400 --> 01:05:46,520
Speaker 5: two hundred million dollars is enough. I suspect it's not,

1538
01:05:46,880 --> 01:05:48,360
Speaker 5: and we're going to talk to the South African High

1539
01:05:48,360 --> 01:05:51,440
Speaker 5: Commissioner as well very shortly. Also, can I just say

1540
01:05:52,040 --> 01:05:56,320
Speaker 5: on that Smith and Koe decision yesterday, part of it

1541
01:05:56,360 --> 01:05:59,560
Speaker 5: is blamed on Queen Street being a disaster disaster zone.

1542
01:05:59,560 --> 01:06:02,040
Speaker 5: I saw some numbers. They did not realize how important

1543
01:06:02,040 --> 01:06:05,560
Speaker 5: that part of Auckland City is. Apparently Auckland CBD is

1544
01:06:05,600 --> 01:06:09,520
Speaker 5: only four point three square kilometers, but that generates twenty

1545
01:06:09,560 --> 01:06:14,640
Speaker 5: percent of Auckland's GDP and Auckland generates forty percent of

1546
01:06:14,640 --> 01:06:17,240
Speaker 5: the country's GDP, which means that little area there, that

1547
01:06:17,280 --> 01:06:21,000
Speaker 5: four point three square case that area is eight percent

1548
01:06:21,440 --> 01:06:24,959
Speaker 5: of New Zealand's GDP's. That's that's quite an intensive little

1549
01:06:24,960 --> 01:06:27,520
Speaker 5: bit there. It is the largest employment center in the country.

1550
01:06:27,880 --> 01:06:30,760
Speaker 5: So Auckland Transport take a little bit more care of

1551
01:06:30,760 --> 01:06:32,560
Speaker 5: that place. It's making a lot of money for US

1552
01:06:32,760 --> 01:06:44,280
Speaker 5: Newstalks B. If this were man.

1553
01:06:45,840 --> 01:06:48,840
Speaker 1: Going into the detail of budget twenty twenty five five,

1554
01:06:49,320 --> 01:06:51,760
Speaker 1: finding the wins.

1555
01:06:50,880 --> 01:06:53,600
Speaker 6: And the losses possible who comes out on top.

1556
01:06:54,080 --> 01:06:58,200
Speaker 1: He's the Business Hour with Heather Dupersur live from Parliament's

1557
01:06:58,200 --> 01:07:01,120
Speaker 1: where Maths Insurance had in that scroll your wealth to

1558
01:07:01,120 --> 01:07:01,960
Speaker 1: protect your future.

1559
01:07:02,120 --> 01:07:03,360
Speaker 6: News Talk Savvy.

1560
01:07:05,080 --> 01:07:07,200
Speaker 5: Right coming up in the next hour. Sam Dickie's very

1561
01:07:07,280 --> 01:07:09,320
Speaker 5: keen to talk about the key we saver changes. He's

1562
01:07:09,320 --> 01:07:11,440
Speaker 5: with us half to half past the South African High

1563
01:07:11,480 --> 01:07:13,840
Speaker 5: Commissioner about that White House meeting and end of Brady

1564
01:07:13,920 --> 01:07:15,680
Speaker 5: is with us out of the UK at seven past

1565
01:07:15,760 --> 01:07:18,600
Speaker 5: six now. The budget has put two hundred million dollars

1566
01:07:18,600 --> 01:07:20,800
Speaker 5: into gas exploration. The money is going to be used

1567
01:07:20,840 --> 01:07:23,000
Speaker 5: to take a ten to fifteen percent commercial steak in

1568
01:07:23,040 --> 01:07:26,120
Speaker 5: oil fields and gas fields rather. Former CEO and president

1569
01:07:26,160 --> 01:07:27,680
Speaker 5: of meth and X Bruce Aken is with us.

1570
01:07:27,680 --> 01:07:30,040
Speaker 15: Hey, Bruce, are good to have the good eving.

1571
01:07:30,280 --> 01:07:31,040
Speaker 5: Is it a good idea?

1572
01:07:32,760 --> 01:07:32,920
Speaker 19: Yes?

1573
01:07:33,000 --> 01:07:33,520
Speaker 7: I think it is.

1574
01:07:33,520 --> 01:07:38,280
Speaker 15: Anything that encourages exploration for natural gas is great. It's

1575
01:07:38,280 --> 01:07:40,480
Speaker 15: a real pity that the government has to do it.

1576
01:07:40,520 --> 01:07:43,680
Speaker 15: But I think there's an inevitability that you need to

1577
01:07:43,720 --> 01:07:45,360
Speaker 15: take some risk out of exploration.

1578
01:07:47,240 --> 01:07:49,840
Speaker 5: I mean, obviously what it's going to the point of

1579
01:07:49,880 --> 01:07:51,400
Speaker 5: this thing is to kind of put the governments a

1580
01:07:51,800 --> 01:07:54,040
Speaker 5: bit of skin in the game and then encourage the

1581
01:07:54,080 --> 01:07:55,560
Speaker 5: investors and say we're not going to get rid of

1582
01:07:55,600 --> 01:07:57,560
Speaker 5: it because we now have money in it ourselves. But

1583
01:07:57,720 --> 01:08:00,640
Speaker 5: surely it's only the things that we have in right.

1584
01:08:00,680 --> 01:08:02,280
Speaker 5: Everything else is still at risk, isn't it?

1585
01:08:03,400 --> 01:08:03,600
Speaker 24: Yes?

1586
01:08:03,640 --> 01:08:03,920
Speaker 7: It is.

1587
01:08:04,480 --> 01:08:06,920
Speaker 6: The big issue here is maintaining the market.

1588
01:08:07,320 --> 01:08:10,600
Speaker 15: And when you think back to where those plants and

1589
01:08:10,680 --> 01:08:13,840
Speaker 15: taranniki came from, they were created to create a market

1590
01:08:13,880 --> 01:08:16,439
Speaker 15: for natural gas, and out of that then you get

1591
01:08:16,520 --> 01:08:22,599
Speaker 15: natural gas for dairy natural gas for electricity generation, natural

1592
01:08:22,600 --> 01:08:25,240
Speaker 15: gas that comes through our homes. So natural gas is

1593
01:08:25,240 --> 01:08:28,120
Speaker 15: an incredibly useful product. You know, the rest of the

1594
01:08:28,160 --> 01:08:34,680
Speaker 15: world is meeting their climate change challenges by getting out

1595
01:08:34,720 --> 01:08:37,680
Speaker 15: of coal and internatural gas. What we've done in New

1596
01:08:37,760 --> 01:08:41,400
Speaker 15: Zuanda is exactly the opposite. We've put a big dampner

1597
01:08:41,479 --> 01:08:45,800
Speaker 15: on natural gas exploration and importing record quantities of coal

1598
01:08:46,120 --> 01:08:48,479
Speaker 15: to keep the lights on over winter. So it makes

1599
01:08:48,560 --> 01:08:51,559
Speaker 15: zero sense what has happened over the last five years.

1600
01:08:51,880 --> 01:08:54,080
Speaker 5: Would two hundred million dollars be enough because I would

1601
01:08:54,080 --> 01:08:56,080
Speaker 5: have imagine that would be just enough to buy a

1602
01:08:56,120 --> 01:08:59,320
Speaker 5: ten percent steak in perhaps one exploration.

1603
01:08:59,000 --> 01:08:59,280
Speaker 6: Isn't it.

1604
01:08:59,520 --> 01:09:02,480
Speaker 15: Yeah, it's not a lot of money in that industry,

1605
01:09:02,800 --> 01:09:05,080
Speaker 15: and it could well be it's too little, too late,

1606
01:09:05,400 --> 01:09:07,160
Speaker 15: but I think at least it's an effort to try

1607
01:09:07,200 --> 01:09:09,479
Speaker 15: and address what is a I think it is a

1608
01:09:09,520 --> 01:09:10,839
Speaker 15: desperate problem for our country.

1609
01:09:11,160 --> 01:09:12,960
Speaker 5: So we were talking. I was talking to somebody about

1610
01:09:12,960 --> 01:09:15,360
Speaker 5: this in the budget lockup and they the point that

1611
01:09:15,400 --> 01:09:17,640
Speaker 5: they made is we haven't found any new gas in

1612
01:09:17,680 --> 01:09:20,400
Speaker 5: twenty years, and what gas we have found has not

1613
01:09:20,520 --> 01:09:22,760
Speaker 5: turned out to be viable in terms of putting your

1614
01:09:22,760 --> 01:09:26,200
Speaker 5: money into it. Is that right, Well, that's not entirely true.

1615
01:09:26,640 --> 01:09:29,920
Speaker 15: I think New Zealand is gas prone, so if you've

1616
01:09:29,960 --> 01:09:32,799
Speaker 15: drill enough holes, you're going to find more gas. When

1617
01:09:32,840 --> 01:09:36,479
Speaker 15: you found big fields like Maoy, like Poakura, and there

1618
01:09:36,479 --> 01:09:41,320
Speaker 15: are other meaningful fields around the Taranniki basin, there will

1619
01:09:41,320 --> 01:09:43,519
Speaker 15: be more gas out there. It's just a matter of

1620
01:09:43,600 --> 01:09:46,479
Speaker 15: having a well planned program over a number of years.

1621
01:09:46,840 --> 01:09:49,360
Speaker 15: And that's the problem with this industry. There's a very

1622
01:09:49,400 --> 01:09:52,840
Speaker 15: long timelines. You spend a lot of money and then

1623
01:09:52,880 --> 01:09:54,479
Speaker 15: you need a market for the gas at the end

1624
01:09:54,520 --> 01:09:56,720
Speaker 15: of it. And it's only when the government kind of

1625
01:09:56,920 --> 01:10:01,280
Speaker 15: steps in and takes old is some of that risk

1626
01:10:01,520 --> 01:10:04,439
Speaker 15: that perhaps you can tempt others back into that space.

1627
01:10:05,080 --> 01:10:07,760
Speaker 5: Okay, So is this enough to tempt others back into

1628
01:10:07,800 --> 01:10:09,960
Speaker 5: the space? Is this enough to get somebody to take

1629
01:10:10,040 --> 01:10:11,240
Speaker 5: ninety percent with the government.

1630
01:10:12,040 --> 01:10:15,960
Speaker 15: Well, I guess we'll find out, like it probably isn't

1631
01:10:16,200 --> 01:10:18,080
Speaker 15: that it's better than nothing.

1632
01:10:18,479 --> 01:10:21,120
Speaker 5: Yeah, hey, thank you so much. Bruce really appreciated, Bruce Akin,

1633
01:10:21,720 --> 01:10:25,519
Speaker 5: former CEO and president of method X. Here that your

1634
01:10:25,600 --> 01:10:28,559
Speaker 5: union guy. It was almost sensible earlier. What everyone missed though,

1635
01:10:28,560 --> 01:10:30,559
Speaker 5: is that the Aussie Labour government has just introduced a

1636
01:10:30,560 --> 01:10:32,880
Speaker 5: capital gains tax on unrealized gains on the key we

1637
01:10:32,920 --> 01:10:35,760
Speaker 5: saver equivalent. Thank you very much for that. So here's

1638
01:10:35,800 --> 01:10:38,160
Speaker 5: some little here's just a smattering of other money that's

1639
01:10:38,360 --> 01:10:40,400
Speaker 5: being doled out by this budget. So there's money for

1640
01:10:40,479 --> 01:10:44,240
Speaker 5: court cases to try to clear the backlog with specialist courts,

1641
01:10:44,280 --> 01:10:46,439
Speaker 5: tribunals and so on, two hundred and sixty four million

1642
01:10:46,439 --> 01:10:49,320
Speaker 5: dollars for that. There's about fifty million bucks towards science,

1643
01:10:49,320 --> 01:10:52,720
Speaker 5: and that includes setting up a regulator to oversee gene technology.

1644
01:10:52,720 --> 01:10:54,400
Speaker 5: But as was mentioned by the huddle, none of that's

1645
01:10:54,479 --> 01:10:56,880
Speaker 5: new social houses, five hundred and fifty of them. That's

1646
01:10:56,880 --> 01:10:59,160
Speaker 5: got one hundred and twenty eight million dollars there's more

1647
01:10:59,160 --> 01:11:02,840
Speaker 5: help for pension with rates. They can earn more and

1648
01:11:02,880 --> 01:11:04,840
Speaker 5: still get help with the rates, and then what help

1649
01:11:04,840 --> 01:11:06,920
Speaker 5: they get with their rates they're entitled to more help.

1650
01:11:07,520 --> 01:11:09,880
Speaker 5: There's an extra four one hundred million dollars for tertiary

1651
01:11:10,000 --> 01:11:12,640
Speaker 5: education basically for subsidies and so on. One hundred and

1652
01:11:12,640 --> 01:11:15,599
Speaker 5: three million dollars to upgrade youth justice facilities. Thirty five

1653
01:11:15,640 --> 01:11:19,480
Speaker 5: million dollars to IID to keep chasing those tax avoids

1654
01:11:19,479 --> 01:11:22,120
Speaker 5: and tax dodgers and whatnot. Four hundred and eighty million

1655
01:11:22,120 --> 01:11:24,960
Speaker 5: dollars for the police to pay for the equipment that

1656
01:11:25,040 --> 01:11:26,679
Speaker 5: was never paid for so that they could for those

1657
01:11:26,960 --> 01:11:29,080
Speaker 5: eighteen hundred new cops paid for the cops didn't pay

1658
01:11:29,120 --> 01:11:32,559
Speaker 5: for their gear and their infrastructure. Fifteen million dollars extended

1659
01:11:32,560 --> 01:11:34,559
Speaker 5: to help the food banks. Four hundred and seventy two

1660
01:11:34,560 --> 01:11:37,360
Speaker 5: million dollars for new prison guards, new government agency which

1661
01:11:37,400 --> 01:11:39,680
Speaker 5: just ripped my ninety because I want to get rid

1662
01:11:39,720 --> 01:11:42,240
Speaker 5: of them. Now I get another one invest New Zealand

1663
01:11:42,400 --> 01:11:44,880
Speaker 5: set up to attract global capital and businesses and talent.

1664
01:11:44,880 --> 01:11:47,719
Speaker 5: That's eighty five million bucks and twenty eight million dollars

1665
01:11:47,800 --> 01:11:50,000
Speaker 5: to help the cost of setting up that mental health

1666
01:11:50,040 --> 01:11:51,600
Speaker 5: phone line so the police don't have to deal with

1667
01:11:51,600 --> 01:11:53,200
Speaker 5: it when they call one one. When someone calls one

1668
01:11:53,240 --> 01:11:54,760
Speaker 5: one one and it says we've got a problem with

1669
01:11:54,800 --> 01:11:57,240
Speaker 5: somebody with mental health issues. Set up the new phone

1670
01:11:57,240 --> 01:11:59,040
Speaker 5: line out. Money's for that. Twelve pas six.

1671
01:12:01,000 --> 01:12:04,280
Speaker 1: It's the Heather Duper c Allen Drive Full Show podcast

1672
01:12:04,400 --> 01:12:07,200
Speaker 1: on iHeartRadio powered by newstalg ZEPPI.

1673
01:12:10,080 --> 01:12:11,960
Speaker 5: Alright, it's quarter past six and we'll have a chat

1674
01:12:11,960 --> 01:12:14,960
Speaker 5: to Liam Dan to get his reaction. Very shortly to

1675
01:12:15,600 --> 01:12:18,400
Speaker 5: the budget as well. Historic scenes, though have played out

1676
01:12:18,439 --> 01:12:20,679
Speaker 5: in the White House again today's we saw US President

1677
01:12:20,720 --> 01:12:23,800
Speaker 5: Donald Trump met with South African President Cyril Ramoposa early

1678
01:12:23,840 --> 01:12:26,680
Speaker 5: this morning, and then during the meeting, Trump rolled out

1679
01:12:26,720 --> 01:12:29,280
Speaker 5: a large screen TV and instructed a staff as to

1680
01:12:29,320 --> 01:12:31,439
Speaker 5: turn the lights down, and then played footage of what

1681
01:12:31,520 --> 01:12:34,360
Speaker 5: Trump claims as an ongoing genocide against white farmers in

1682
01:12:34,400 --> 01:12:35,040
Speaker 5: South Africa.

1683
01:12:35,160 --> 01:12:42,479
Speaker 1: These are veryal, says Radio. Veryal says, over one thousand

1684
01:12:43,840 --> 01:12:45,080
Speaker 1: of white farmers.

1685
01:12:47,439 --> 01:12:50,680
Speaker 5: President Ramoposa, who was once actually Nelson Man Dallas chief negotiator,

1686
01:12:50,720 --> 01:12:52,519
Speaker 5: was blindsided by the playing of the video.

1687
01:12:52,760 --> 01:12:55,120
Speaker 2: I'd love to know where that is because.

1688
01:12:55,280 --> 01:12:59,240
Speaker 5: This I've never seen South Africa's high Commissioner to New

1689
01:12:59,320 --> 01:13:01,840
Speaker 5: Zealander is with is Johnny said, Johnny.

1690
01:13:01,479 --> 01:13:04,800
Speaker 19: Hello, Hello, Heather, good evening.

1691
01:13:05,400 --> 01:13:05,519
Speaker 1: Hi.

1692
01:13:05,640 --> 01:13:06,800
Speaker 5: Awkward to watch, wasn't it.

1693
01:13:08,600 --> 01:13:13,080
Speaker 19: Yes, it does. It does a bit of awkward. But

1694
01:13:13,240 --> 01:13:17,240
Speaker 19: I think my President handled it a very very well,

1695
01:13:18,720 --> 01:13:24,320
Speaker 19: although he did not expect it. But overall, I think

1696
01:13:25,360 --> 01:13:28,080
Speaker 19: he did manage to explain to the President of the

1697
01:13:28,160 --> 01:13:33,960
Speaker 19: United States, President Trump, that there is not genocide in

1698
01:13:34,000 --> 01:13:37,400
Speaker 19: South Africa.

1699
01:13:37,479 --> 01:13:39,439
Speaker 5: They may not, Johnny, they may not be genocide, but

1700
01:13:39,520 --> 01:13:41,240
Speaker 5: I mean we would all have to accept that it

1701
01:13:41,280 --> 01:13:43,559
Speaker 5: is not a great time in South Africa to be

1702
01:13:43,600 --> 01:13:45,479
Speaker 5: a white farmer, is there. I mean, there is the

1703
01:13:45,560 --> 01:13:48,160
Speaker 5: violence and then there's the threat of having land confiscated.

1704
01:13:50,600 --> 01:13:56,320
Speaker 19: That's that's not true, Heather, South Africa. It's a normal country,

1705
01:13:56,439 --> 01:14:02,759
Speaker 19: like any other country. Then the the President demonstrated yesterday

1706
01:14:03,680 --> 01:14:07,920
Speaker 19: that we are a normal country. There is not genocide.

1707
01:14:08,640 --> 01:14:13,600
Speaker 19: He also brought with him white farmers that came to

1708
01:14:13,680 --> 01:14:16,200
Speaker 19: the White House with the with the with the President,

1709
01:14:17,080 --> 01:14:21,559
Speaker 19: and those white farmers who spoke big business people. One

1710
01:14:21,560 --> 01:14:24,599
Speaker 19: of them is the richest person in South Africa and

1711
01:14:24,640 --> 01:14:25,600
Speaker 19: they were spoke.

1712
01:14:26,960 --> 01:14:27,719
Speaker 6: To Rupert.

1713
01:14:27,840 --> 01:14:31,479
Speaker 19: Yeah, he's one of the most the richest person in

1714
01:14:31,520 --> 01:14:32,000
Speaker 19: South Africa.

1715
01:14:32,080 --> 01:14:34,040
Speaker 5: Look, I take the point though, that there is no genoside.

1716
01:14:34,040 --> 01:14:36,880
Speaker 5: I mean, and and you know, there's obviously no evidence

1717
01:14:36,880 --> 01:14:39,280
Speaker 5: of genocide. But it is hardly normal, Johnny, to have

1718
01:14:39,320 --> 01:14:41,519
Speaker 5: a piece of legislation like the one that was passed

1719
01:14:41,520 --> 01:14:45,080
Speaker 5: in January that allows the government to just confiscate land

1720
01:14:45,120 --> 01:14:47,479
Speaker 5: without any kind of compensation if they want to.

1721
01:14:49,400 --> 01:14:55,880
Speaker 19: No, that legislation is actually misinterpretated, right. The The government

1722
01:14:57,200 --> 01:15:01,240
Speaker 19: is not going to take really nearly land from the

1723
01:15:01,280 --> 01:15:06,800
Speaker 19: people without negotiating with them.

1724
01:15:07,120 --> 01:15:09,920
Speaker 5: What the laws is available to them, though, isn't it, Johnny.

1725
01:15:09,960 --> 01:15:11,920
Speaker 5: And if they decide that they need it for whatever

1726
01:15:11,960 --> 01:15:13,920
Speaker 5: reason in the public interests, they are actually able to

1727
01:15:13,960 --> 01:15:14,839
Speaker 5: do that the law government.

1728
01:15:14,880 --> 01:15:17,639
Speaker 19: Well, just like it happens anyway anywhere else in the world,

1729
01:15:18,080 --> 01:15:21,960
Speaker 19: when the government wants to build an infrastructure like a

1730
01:15:22,080 --> 01:15:25,160
Speaker 19: road or a rail or something, they will negotiate with

1731
01:15:25,200 --> 01:15:29,479
Speaker 19: the land with their land owners and compensate them for it.

1732
01:15:29,479 --> 01:15:31,519
Speaker 5: Does it happen elsewhere in the world, though, that the

1733
01:15:31,560 --> 01:15:34,400
Speaker 5: government can do that without any compensation?

1734
01:15:35,800 --> 01:15:38,120
Speaker 19: No, no, no, no, no, there is there Our law

1735
01:15:38,200 --> 01:15:41,040
Speaker 19: doesn't say there is no compensation. That's what I'm saying

1736
01:15:41,040 --> 01:15:44,519
Speaker 19: that the people are misreading our law and they are

1737
01:15:44,680 --> 01:15:48,160
Speaker 19: misinterpreted book so their own advantage.

1738
01:15:48,320 --> 01:15:49,960
Speaker 5: Johnny. To be fair, I haven't gone to read the

1739
01:15:50,000 --> 01:15:53,200
Speaker 5: law myself, but I have read multiple news agencies, including

1740
01:15:53,200 --> 01:15:56,679
Speaker 5: for example example this example from Al Jazeera saying, while

1741
01:15:56,720 --> 01:16:00,439
Speaker 5: the law does spell out fair compensation, it also allows

1742
01:16:00,439 --> 01:16:05,240
Speaker 5: for seizure without compensation in certain circumstances, doesn't it.

1743
01:16:06,160 --> 01:16:08,439
Speaker 19: No, no, no, that is not true. That is not true.

1744
01:16:08,320 --> 01:16:11,680
Speaker 19: Where there is no compensation. Is the land that is

1745
01:16:12,000 --> 01:16:16,840
Speaker 19: lying in disused land that is lying fellow that has

1746
01:16:16,880 --> 01:16:21,040
Speaker 19: got no no, no landowner or something like that, you

1747
01:16:21,080 --> 01:16:22,719
Speaker 19: know that the state will take.

1748
01:16:22,560 --> 01:16:29,840
Speaker 5: It development, so you might I also read no plans

1749
01:16:29,880 --> 01:16:32,280
Speaker 5: for development. So let's say somebody owns the land. It

1750
01:16:32,360 --> 01:16:34,439
Speaker 5: might look fallow to you. They may have no plans

1751
01:16:34,439 --> 01:16:37,040
Speaker 5: for development because they're just leaving it there. But they

1752
01:16:37,040 --> 01:16:40,200
Speaker 5: own it. Then in that circumstance it it can be

1753
01:16:40,280 --> 01:16:43,920
Speaker 5: taken without compensation. That's not fair. That tramples on property rights.

1754
01:16:44,240 --> 01:16:48,040
Speaker 19: Obviously, the government is going to follow processes. Yeah, they'll

1755
01:16:48,040 --> 01:16:51,679
Speaker 19: have to find out who the land owner is. They'll

1756
01:16:51,680 --> 01:16:56,080
Speaker 19: do all the attempts to find the land owner, and

1757
01:16:56,160 --> 01:16:59,280
Speaker 19: after finding the land owner, they will enter into negotiations.

1758
01:16:59,479 --> 01:17:02,160
Speaker 6: The land, and I.

1759
01:17:02,280 --> 01:17:06,640
Speaker 19: Agree with the landowner on the fair amount to be

1760
01:17:06,760 --> 01:17:12,479
Speaker 19: paid to him for that piece of land. So there's

1761
01:17:12,600 --> 01:17:15,160
Speaker 19: narrative that there is a land that has been taken

1762
01:17:15,960 --> 01:17:19,200
Speaker 19: with our compensation. It is not true. It is not true.

1763
01:17:19,200 --> 01:17:22,760
Speaker 19: It doesn't happen. There is no one thing in South

1764
01:17:22,800 --> 01:17:25,719
Speaker 19: Africa right now who can tell you that his land

1765
01:17:25,880 --> 01:17:28,240
Speaker 19: was taken because the person.

1766
01:17:28,160 --> 01:17:30,479
Speaker 5: To be fair, the legislation was only passed in January.

1767
01:17:30,479 --> 01:17:32,639
Speaker 5: That would probably explain that. I'll tell you what else, okay.

1768
01:17:32,800 --> 01:17:37,160
Speaker 5: I I think that also it is kind of abnormal

1769
01:17:37,280 --> 01:17:41,360
Speaker 5: internationally to have somebody like Julius Malema running around saying

1770
01:17:41,439 --> 01:17:44,719
Speaker 5: kill the boot and that just being sort of accepted

1771
01:17:44,760 --> 01:17:48,320
Speaker 5: as part of the public discourse. I mean, that's pretty wild.

1772
01:17:48,560 --> 01:17:52,080
Speaker 19: But you see one thing you must know right South

1773
01:17:52,080 --> 01:17:56,400
Speaker 19: Africa is a democratic country. South Africa has got a

1774
01:17:56,560 --> 01:18:01,160
Speaker 19: number of political parties. Off is Julius Malemma is one

1775
01:18:01,200 --> 01:18:06,560
Speaker 19: of those political parties. Julius Malemba is not in government.

1776
01:18:07,360 --> 01:18:10,680
Speaker 19: He is a leader of a small political party. So

1777
01:18:10,720 --> 01:18:15,439
Speaker 19: whatever he says, he cannot be attributed to government. We

1778
01:18:15,520 --> 01:18:17,879
Speaker 19: are I said, it's not a government policy.

1779
01:18:17,960 --> 01:18:19,240
Speaker 5: You know, I don't understand say that.

1780
01:18:19,680 --> 01:18:22,360
Speaker 19: Yes, So it is a party, so you cannot say

1781
01:18:22,840 --> 01:18:26,519
Speaker 19: if some lettle party says something that you attribute to government.

1782
01:18:26,560 --> 01:18:27,680
Speaker 19: You know, and.

1783
01:18:27,680 --> 01:18:29,800
Speaker 5: Johnny, nobody is blaming the government for it. It is

1784
01:18:29,840 --> 01:18:32,080
Speaker 5: just an accepted part of political discourse, which is I

1785
01:18:32,080 --> 01:18:34,960
Speaker 5: think would see quite uncomfortably if you are a white

1786
01:18:34,960 --> 01:18:37,679
Speaker 5: farmer being threatened by one of your national leaders.

1787
01:18:37,880 --> 01:18:41,240
Speaker 19: Listenimately, I think, but you see, Heather, let me just

1788
01:18:41,320 --> 01:18:45,479
Speaker 19: explain to you the meeting yesterday. You saw we had

1789
01:18:45,800 --> 01:18:49,920
Speaker 19: four white business people. Those are the big businesses, right.

1790
01:18:50,280 --> 01:18:56,680
Speaker 19: We had also one white minister, our Minister of Agriculture

1791
01:18:56,720 --> 01:18:59,680
Speaker 19: who is a white person, and all of them, they

1792
01:18:59,800 --> 01:19:04,559
Speaker 19: said publicly in the White House to Trump himself to

1793
01:19:04,640 --> 01:19:07,559
Speaker 19: say there is no ghinocide. There is no such thing

1794
01:19:07,680 --> 01:19:11,559
Speaker 19: in South Africa. So this narrative of genocide has been

1795
01:19:11,680 --> 01:19:15,519
Speaker 19: manufactured elsewhere. It is not true. This is not happening.

1796
01:19:16,520 --> 01:19:18,599
Speaker 5: You're going to get no debate from me on that, Johnny, Listen.

1797
01:19:18,640 --> 01:19:20,960
Speaker 5: I really appreciate your time and thank you very much

1798
01:19:20,960 --> 01:19:23,120
Speaker 5: for having a chat to us. It's Johnny, said Twalle,

1799
01:19:23,400 --> 01:19:25,559
Speaker 5: who is the South African High Commissioner to New Zealand,

1800
01:19:25,800 --> 01:19:27,320
Speaker 5: might not be genocide. But I'll tell you what this

1801
01:19:27,360 --> 01:19:30,439
Speaker 5: is incredibly uncomfortable. I would imagine for South Africa right

1802
01:19:30,479 --> 01:19:32,879
Speaker 5: now having the spotlight on it just to this degree.

1803
01:19:33,240 --> 01:19:34,000
Speaker 5: Six twenty two.

1804
01:19:35,080 --> 01:19:39,040
Speaker 1: Getting the Answers behind the numbers Budget twenty twenty five

1805
01:19:39,240 --> 01:19:42,240
Speaker 1: on the Business Hour with hither do priscyl and why

1806
01:19:42,320 --> 01:19:45,880
Speaker 1: from parliaments and mass insurance and investments, Grow your wealth,

1807
01:19:45,920 --> 01:19:47,720
Speaker 1: Protect your future News Talks at me.

1808
01:19:48,560 --> 01:19:50,920
Speaker 5: It's six twenty five and Liam Dan, the Herald's Business

1809
01:19:51,040 --> 01:19:53,599
Speaker 5: editor at large, is with us Leba hallo, Yeah, either right,

1810
01:19:53,640 --> 01:19:54,719
Speaker 5: what do you reckon of the budget?

1811
01:19:54,760 --> 01:19:55,839
Speaker 14: What do I reckon of the budget?

1812
01:19:55,840 --> 01:19:56,040
Speaker 21: Oh?

1813
01:19:56,160 --> 01:20:00,840
Speaker 14: Gee, yeah, some good stuff and some maybe yeah, like

1814
01:20:01,439 --> 01:20:04,679
Speaker 14: some not so good stuff. But look, I was pleased

1815
01:20:04,680 --> 01:20:07,880
Speaker 14: to see the depreciation tax tax there. And there's you know,

1816
01:20:07,880 --> 01:20:09,880
Speaker 14: they put growth budget at the top of things, and

1817
01:20:11,160 --> 01:20:13,559
Speaker 14: you know they've got to do something that might actually

1818
01:20:13,600 --> 01:20:17,360
Speaker 14: help help drive productivity and create some growth. So that

1819
01:20:17,280 --> 01:20:18,240
Speaker 14: that's a positive.

1820
01:20:19,360 --> 01:20:23,519
Speaker 5: Yeah, And is that it? That's the only positive? Any

1821
01:20:23,520 --> 01:20:24,880
Speaker 5: more negatives? Like what have you got?

1822
01:20:24,920 --> 01:20:26,599
Speaker 14: Give us some Well, look, you know, if you want

1823
01:20:26,640 --> 01:20:29,479
Speaker 14: to start looking at the actual the numbers below the hood,

1824
01:20:29,640 --> 01:20:32,320
Speaker 14: there's plenty of negatives. There's no question there. I mean

1825
01:20:32,400 --> 01:20:34,559
Speaker 14: I was looking at the Treasury forecasts. If you look

1826
01:20:34,600 --> 01:20:36,920
Speaker 14: at the top line numbers, they all look pretty good

1827
01:20:36,960 --> 01:20:38,679
Speaker 14: if you if you take take them at face value,

1828
01:20:38,680 --> 01:20:41,840
Speaker 14: which we probably shouldn't, but you know, two point nine

1829
01:20:41,920 --> 01:20:44,639
Speaker 14: percent average growth over the next four years, three percent

1830
01:20:44,680 --> 01:20:47,320
Speaker 14: growth in twenty seven. House prices are going to grow

1831
01:20:47,720 --> 01:20:50,000
Speaker 14: six point seven percent by.

1832
01:20:49,880 --> 01:20:52,080
Speaker 5: Twenty twenty seven. It's a little bit rosy.

1833
01:20:52,439 --> 01:20:55,679
Speaker 14: That is very rosy, and it looks, you know, look it.

1834
01:20:55,760 --> 01:20:58,160
Speaker 14: They're not taking too much of a punt on what

1835
01:20:58,200 --> 01:21:00,599
Speaker 14: happens in the in the you know, the terror, turmoil

1836
01:21:00,640 --> 01:21:01,599
Speaker 14: and all that sort of stuff.

1837
01:21:02,000 --> 01:21:03,120
Speaker 7: But you know, the.

1838
01:21:03,120 --> 01:21:05,400
Speaker 14: Rosy stuff, we could take that. But when you when

1839
01:21:05,400 --> 01:21:07,880
Speaker 14: you look under the hood, I guess the issue is

1840
01:21:07,880 --> 01:21:12,200
Speaker 14: that the government's just in that tight spot that we've

1841
01:21:12,240 --> 01:21:15,519
Speaker 14: talked about before. So there are certainly people saying they

1842
01:21:15,520 --> 01:21:18,640
Speaker 14: should have done more to cut back and try and

1843
01:21:18,800 --> 01:21:19,719
Speaker 14: work a bit harder.

1844
01:21:19,520 --> 01:21:20,280
Speaker 7: To balance the books.

1845
01:21:20,280 --> 01:21:23,879
Speaker 14: I mean, there's no no surplus at all on the horizon.

1846
01:21:23,920 --> 01:21:27,360
Speaker 14: If you use the traditional you know, operating balance measure,

1847
01:21:27,400 --> 01:21:31,040
Speaker 14: the Obergel measure, and you don't just exclude acc which

1848
01:21:31,120 --> 01:21:32,920
Speaker 14: is the ober Gel X. It's a bit like sort

1849
01:21:32,920 --> 01:21:36,519
Speaker 14: of saying that you know, you know, I'm not spending

1850
01:21:36,520 --> 01:21:38,080
Speaker 14: too much money as long as they don't count the

1851
01:21:38,120 --> 01:21:40,400
Speaker 14: records I'm buying every week or something like that, so

1852
01:21:41,479 --> 01:21:44,800
Speaker 14: you know, you can you can ring fence anything. But yeah,

1853
01:21:44,880 --> 01:21:47,960
Speaker 14: so look, yeah it's a difficult one. I mean, I

1854
01:21:47,960 --> 01:21:52,000
Speaker 14: think it's going to be a difficult one to sell

1855
01:21:52,040 --> 01:21:54,519
Speaker 14: in some ways to a key WE savor was a

1856
01:21:54,120 --> 01:21:56,640
Speaker 14: bit of give and take and maybe a step in

1857
01:21:56,680 --> 01:21:57,280
Speaker 14: the right direction.

1858
01:21:57,720 --> 01:21:59,880
Speaker 5: I mean, I think they've kind of balanced things so

1859
01:22:00,040 --> 01:22:01,599
Speaker 5: that they you know, a bit of criticism, a little

1860
01:22:01,600 --> 01:22:04,320
Speaker 5: bit or not hate. Liam, Thank you as always really appreciated, mate.

1861
01:22:04,360 --> 01:22:06,800
Speaker 5: Enjoy evening. That's Liam Dan. The Herald's Business editor at large,

1862
01:22:06,800 --> 01:22:08,320
Speaker 5: Sam Dickey is going to be with us next to

1863
01:22:08,320 --> 01:22:10,200
Speaker 5: talk about exactly what Liam just mentioned, the key we

1864
01:22:10,240 --> 01:22:13,080
Speaker 5: saber changes here, the why waste time with someone loyal

1865
01:22:13,120 --> 01:22:16,760
Speaker 5: to Rami Posa because the High Commissioner is the guy

1866
01:22:17,200 --> 01:22:19,160
Speaker 5: and you know it's awkward for them, and that's why

1867
01:22:19,160 --> 01:22:21,639
Speaker 5: he's defending the situations his job to defend his country.

1868
01:22:21,800 --> 01:22:27,240
Speaker 1: Headline's next, How does the budget affect you your business

1869
01:22:27,439 --> 01:22:31,080
Speaker 1: and the wider economy? Budget twenty twenty five on the

1870
01:22:31,120 --> 01:22:34,519
Speaker 1: Business Hour with Hither duplessy Ellen live from parliament and

1871
01:22:34,760 --> 01:22:38,160
Speaker 1: mass insurance and investments, grow your wealth, protect your future

1872
01:22:38,240 --> 01:22:43,080
Speaker 1: news talks that'd bed.

1873
01:22:45,800 --> 01:22:47,439
Speaker 5: Medi RADI, it's going to be with us out of

1874
01:22:47,439 --> 01:22:50,160
Speaker 5: the UK very shortly. Hither I fled South Africa. I'm

1875
01:22:50,160 --> 01:22:51,800
Speaker 5: a New Zealand citizen. Now I had to leave my

1876
01:22:51,840 --> 01:22:54,559
Speaker 5: business and my farming operation behind to come and start over,

1877
01:22:55,000 --> 01:22:58,280
Speaker 5: and all because I'm white. About sixty thousand South Africans

1878
01:22:58,280 --> 01:23:00,240
Speaker 5: are leaving living in New Zealand. And we'll con firm

1879
01:23:00,280 --> 01:23:02,439
Speaker 5: this farm murders are real. Being white in South Africa

1880
01:23:02,479 --> 01:23:05,400
Speaker 5: is hard because you're being legislative, legislated against in so

1881
01:23:05,400 --> 01:23:07,599
Speaker 5: many ways. Do you know what though I was reading

1882
01:23:07,720 --> 01:23:11,599
Speaker 5: when I was reading about this today, the stuff that

1883
01:23:11,640 --> 01:23:15,760
Speaker 5: goes on in that country is mind blowing. So I

1884
01:23:15,800 --> 01:23:18,200
Speaker 5: can't remember which particular minister this is, but I feel

1885
01:23:18,200 --> 01:23:21,360
Speaker 5: like like the Sports Minister or something like that. Anyway,

1886
01:23:21,439 --> 01:23:23,840
Speaker 5: put out a job ad looking for some staff to

1887
01:23:23,880 --> 01:23:27,800
Speaker 5: work in the office and said that the only applications

1888
01:23:27,840 --> 01:23:32,000
Speaker 5: that they would accept were from applicants who were white

1889
01:23:32,400 --> 01:23:35,880
Speaker 5: or colored or Asian because they had too many black

1890
01:23:35,880 --> 01:23:39,160
Speaker 5: employees already. I mean, how crazy is that? Like, how

1891
01:23:39,240 --> 01:23:41,439
Speaker 5: crazy is it to be completely obsessed with that kind

1892
01:23:41,479 --> 01:23:43,200
Speaker 5: of thing, like, so what if you've got so what

1893
01:23:43,200 --> 01:23:44,960
Speaker 5: if all your employees are black? Are they good at

1894
01:23:44,960 --> 01:23:47,040
Speaker 5: their jobs? Who cares if the next one's black? Are

1895
01:23:47,040 --> 01:23:49,040
Speaker 5: they the perfect one for your job? That's the only

1896
01:23:49,040 --> 01:23:51,160
Speaker 5: thing that should matter. It shouldn't matter withther You've got

1897
01:23:51,200 --> 01:23:52,840
Speaker 5: a smattering of this and a smattering of that, in

1898
01:23:52,840 --> 01:23:54,320
Speaker 5: a little bit of that, just to mix things up.

1899
01:23:54,400 --> 01:23:57,080
Speaker 5: Like anyway, they're completely obsessed with it a and I

1900
01:23:57,120 --> 01:23:59,200
Speaker 5: suppose you can kind of cut them some slack because

1901
01:23:59,760 --> 01:24:03,519
Speaker 5: you know, it's been obviously four of their mind for

1902
01:24:03,960 --> 01:24:06,720
Speaker 5: blinkin coming up one hundred years now. But honestly, you know,

1903
01:24:06,760 --> 01:24:09,479
Speaker 5: I mean, you're being colorblind in that situation. Will be

1904
01:24:09,520 --> 01:24:13,160
Speaker 5: a relief, you'd think. Anyway. It's not looking good for Ukraine.

1905
01:24:13,360 --> 01:24:15,519
Speaker 5: By the way, it's being reported by the Wall Street

1906
01:24:15,560 --> 01:24:18,280
Speaker 5: Journal that Trump's told European leaders in a private phone

1907
01:24:18,280 --> 01:24:21,479
Speaker 5: call that Putin isn't ready to end the war. And

1908
01:24:21,479 --> 01:24:23,559
Speaker 5: that's based on the phone call that he had with Putin. Now,

1909
01:24:23,560 --> 01:24:26,320
Speaker 5: this will be absolutely of no surprise whatsoever to Europe

1910
01:24:26,360 --> 01:24:28,479
Speaker 5: because they've been saying that, bay, I mean saying, hey, Donald,

1911
01:24:29,400 --> 01:24:31,479
Speaker 5: Vlad's not ready to end the war. He's playing you.

1912
01:24:31,880 --> 01:24:34,519
Speaker 5: This's the first time that Donald has realized that Vlad's

1913
01:24:34,560 --> 01:24:36,759
Speaker 5: not ready to end the war. So you know, baby steps.

1914
01:24:36,760 --> 01:24:38,559
Speaker 5: I suppose twenty three away from.

1915
01:24:38,400 --> 01:24:39,799
Speaker 6: Seven, Heather dus.

1916
01:24:40,600 --> 01:24:42,599
Speaker 5: So we've got some burg changes coming to u KI.

1917
01:24:42,640 --> 01:24:45,120
Speaker 5: We say a government is increasing the minimum contribution rate

1918
01:24:45,160 --> 01:24:48,960
Speaker 5: for employees and employers, or the default rather, from three

1919
01:24:49,040 --> 01:24:50,880
Speaker 5: percent to four percent. But at the same time it's

1920
01:24:50,960 --> 01:24:53,280
Speaker 5: taken out. It's basically having its own contribution rate and

1921
01:24:53,280 --> 01:24:55,160
Speaker 5: if you're earning too much money, you can get nothing

1922
01:24:55,200 --> 01:24:57,400
Speaker 5: at all. Sam Dickey from Fisher Funds is with us.

1923
01:24:57,439 --> 01:24:59,040
Speaker 22: He Sam good even.

1924
01:24:59,640 --> 01:25:02,200
Speaker 5: So well, thank you. So what do you make Let's

1925
01:25:02,200 --> 01:25:04,960
Speaker 5: start with the default rate going from three to four percent.

1926
01:25:05,000 --> 01:25:05,519
Speaker 5: What do you think.

1927
01:25:06,680 --> 01:25:09,559
Speaker 22: I think it's exciting. It's exciting generally that we're paying

1928
01:25:09,840 --> 01:25:12,880
Speaker 22: this much attention to something as critical as kiwi's retirement savings.

1929
01:25:12,920 --> 01:25:14,640
Speaker 22: And that is a step in the right direction. So

1930
01:25:14,680 --> 01:25:17,640
Speaker 22: we've gone from three percent to four percent. It's not

1931
01:25:17,680 --> 01:25:19,679
Speaker 22: compulsory like it is in Australia, but it's a step

1932
01:25:19,680 --> 01:25:22,759
Speaker 22: in the right direction. And as you know, what becomes

1933
01:25:22,800 --> 01:25:26,000
Speaker 22: compulsory is if the employee does elect to put four

1934
01:25:26,040 --> 01:25:28,680
Speaker 22: percent or contribute four percent of the key, we save it,

1935
01:25:28,720 --> 01:25:30,760
Speaker 22: then it's compulsory that the employer matches it.

1936
01:25:31,360 --> 01:25:31,599
Speaker 7: Yeah.

1937
01:25:32,280 --> 01:25:33,240
Speaker 6: And the other thing, is that a step in the

1938
01:25:33,320 --> 01:25:33,719
Speaker 6: right direction.

1939
01:25:33,800 --> 01:25:36,240
Speaker 22: I'm sure my thirteen and fifteen year old sons will

1940
01:25:36,240 --> 01:25:39,160
Speaker 22: be delighted as the extension of the eligibility of the

1941
01:25:39,160 --> 01:25:41,599
Speaker 22: government contributions to sixteen seventeen year olds.

1942
01:25:41,960 --> 01:25:43,880
Speaker 5: Does it mean your sons have to get jobs in

1943
01:25:43,960 --> 01:25:46,520
Speaker 5: order to qualify for that?

1944
01:25:46,920 --> 01:25:47,880
Speaker 6: That's music to my ears.

1945
01:25:47,920 --> 01:25:48,760
Speaker 22: I hope that's the case.

1946
01:25:49,520 --> 01:25:51,720
Speaker 5: I love what we're doing here. What do you make

1947
01:25:51,760 --> 01:25:54,759
Speaker 5: though off the government having its contribution for lower earners

1948
01:25:54,760 --> 01:25:57,200
Speaker 5: and then cutting off the one to eighty thousand plus.

1949
01:25:58,640 --> 01:26:02,479
Speaker 22: I think balancing the book is important and that's part

1950
01:26:02,479 --> 01:26:04,360
Speaker 22: of what they're trying to do there. But it's not

1951
01:26:04,479 --> 01:26:07,400
Speaker 22: clear to me how harving of the government's contribution sends

1952
01:26:07,400 --> 01:26:08,519
Speaker 22: the rights signal to savers.

1953
01:26:08,560 --> 01:26:09,479
Speaker 6: And when you.

1954
01:26:09,479 --> 01:26:11,960
Speaker 22: Compound two hundred and fifty bucks for forty seven years,

1955
01:26:12,000 --> 01:26:14,160
Speaker 22: so say from the age of eighteen to the age

1956
01:26:14,200 --> 01:26:17,479
Speaker 22: of sixty five, at market returns of say seven percent,

1957
01:26:17,560 --> 01:26:19,639
Speaker 22: it comes to sort of sixty five to seventy thousand,

1958
01:26:19,880 --> 01:26:22,200
Speaker 22: which is a big number. Having said that, they've come

1959
01:26:22,240 --> 01:26:24,280
Speaker 22: all the way from matching US dollar for dollar to

1960
01:26:24,960 --> 01:26:27,720
Speaker 22: matching US twenty five cents on the dollar. So it's

1961
01:26:27,760 --> 01:26:29,600
Speaker 22: pretty clear the direction of travel.

1962
01:26:29,600 --> 01:26:31,920
Speaker 5: And do you believe the direction of travelers? The next

1963
01:26:31,920 --> 01:26:35,479
Speaker 5: move is nobody gets a government contribution at all.

1964
01:26:35,600 --> 01:26:36,439
Speaker 6: I'm not sure about that.

1965
01:26:36,439 --> 01:26:38,200
Speaker 22: Like if you look around the world, in Australia there

1966
01:26:38,280 --> 01:26:41,559
Speaker 22: is still government contributions for low income earners. And I

1967
01:26:41,600 --> 01:26:44,240
Speaker 22: do think it does send a signal to savers. And

1968
01:26:44,320 --> 01:26:47,040
Speaker 22: I do think that you know, the power of compounding

1969
01:26:47,120 --> 01:26:49,800
Speaker 22: is real. And when you consider the average key we

1970
01:26:49,840 --> 01:26:52,040
Speaker 22: save a balance today in New Zealand is less than

1971
01:26:52,120 --> 01:26:55,280
Speaker 22: forty thousand dollars. That two hundred and fifty dollars matters

1972
01:26:55,280 --> 01:26:59,479
Speaker 22: for an eighteen year old, that's seventy thousand dollars compounded

1973
01:26:59,560 --> 01:27:01,360
Speaker 22: up with before seven years. So I do think this

1974
01:27:01,400 --> 01:27:02,640
Speaker 22: signaling matters.

1975
01:27:02,880 --> 01:27:06,280
Speaker 5: And over in Australia, at what point what is the

1976
01:27:06,320 --> 01:27:09,439
Speaker 5: income threshold before the government doesn't give you anything? At

1977
01:27:09,479 --> 01:27:11,280
Speaker 5: what point are they still giving you money?

1978
01:27:13,400 --> 01:27:15,280
Speaker 22: Oh, I'm going to have to I mean, I imagine one.

1979
01:27:15,160 --> 01:27:17,240
Speaker 5: Because it must be lower than it is here, Sam,

1980
01:27:17,240 --> 01:27:19,639
Speaker 5: one hundred and eighty thousand dollars is a reasonable whack.

1981
01:27:20,760 --> 01:27:22,040
Speaker 6: Yes, that's right.

1982
01:27:22,400 --> 01:27:24,360
Speaker 22: So what's that three to four percent of New Zealanders

1983
01:27:24,400 --> 01:27:27,160
Speaker 22: and over that amount, and they're no longer eligible for

1984
01:27:27,160 --> 01:27:29,920
Speaker 22: the two hundred and fifty dollars of government contributions.

1985
01:27:29,600 --> 01:27:32,000
Speaker 5: Which means they're not like ninety six percent of us

1986
01:27:32,040 --> 01:27:32,880
Speaker 5: are eligible.

1987
01:27:34,240 --> 01:27:37,880
Speaker 22: That's right, we're eligible for the two hundred and fifty dollars.

1988
01:27:37,920 --> 01:27:39,839
Speaker 22: And now our sixteen and seventeen year olds are eligible

1989
01:27:39,880 --> 01:27:43,400
Speaker 22: as well. Now they take it, they take it from

1990
01:27:43,400 --> 01:27:45,200
Speaker 22: the one hundred and eighty thousand dollars earners, and they

1991
01:27:45,240 --> 01:27:48,839
Speaker 22: give it to our young leaders of tomorrow.

1992
01:27:48,880 --> 01:27:51,120
Speaker 5: I guess, yeah, which is fair enough. But I mean

1993
01:27:51,160 --> 01:27:52,920
Speaker 5: if what you're trying to do is sort of you know,

1994
01:27:53,360 --> 01:27:54,839
Speaker 5: I don't know. I mean I just think I probably

1995
01:27:54,880 --> 01:27:57,360
Speaker 5: would have income tested at a lower level. But anyway,

1996
01:27:57,479 --> 01:27:59,240
Speaker 5: I mean, what you were looking for here which is

1997
01:27:59,240 --> 01:28:00,680
Speaker 5: more important? Does you? We're looking to see a bit

1998
01:28:00,720 --> 01:28:03,720
Speaker 5: of a long term roadmap, right are you having to

1999
01:28:04,000 --> 01:28:05,479
Speaker 5: I mean I don't. I don't think you got that.

2000
01:28:05,600 --> 01:28:07,000
Speaker 5: So are you having to kind of fill it in

2001
01:28:07,200 --> 01:28:08,320
Speaker 5: by filling in the blanks?

2002
01:28:09,360 --> 01:28:09,800
Speaker 6: I think so.

2003
01:28:09,920 --> 01:28:13,240
Speaker 22: I mean we would love I'm sure we and employers

2004
01:28:13,240 --> 01:28:15,880
Speaker 22: and savers in other words, Kiwis would love to have

2005
01:28:15,920 --> 01:28:18,519
Speaker 22: seen a ten year roadmap and so they can more

2006
01:28:18,720 --> 01:28:20,240
Speaker 22: easily make a plan. And what I mean by that

2007
01:28:20,360 --> 01:28:24,000
Speaker 22: is a plan on how to close the yawning gap

2008
01:28:24,040 --> 01:28:26,840
Speaker 22: between the average kiis have a balance of approximately forty

2009
01:28:26,880 --> 01:28:30,280
Speaker 22: thousand dollars and the six hundred and fifty thousand. Now

2010
01:28:30,280 --> 01:28:33,919
Speaker 22: that's the midpoint of the range of a massive university

2011
01:28:33,920 --> 01:28:38,479
Speaker 22: study that on average a couple needs a retirement and that,

2012
01:28:38,560 --> 01:28:40,960
Speaker 22: by the way, that's assuming they are already living in

2013
01:28:40,960 --> 01:28:43,080
Speaker 22: a mortgage free house. So that's a yawning gap between

2014
01:28:43,120 --> 01:28:45,400
Speaker 22: the forty thousand dollars ballance today and six hundred and

2015
01:28:45,439 --> 01:28:48,000
Speaker 22: fifty thousand dollars, and I think that needs long term

2016
01:28:48,040 --> 01:28:49,599
Speaker 22: planning in a long term roadmap.

2017
01:28:49,640 --> 01:28:52,240
Speaker 5: Like you say, yeah, hey Sam, thank you. Always appreciate

2018
01:28:52,320 --> 01:28:54,439
Speaker 5: talking to you, mate, appreciate your expertise that Sam Dickey

2019
01:28:54,439 --> 01:28:57,360
Speaker 5: official funds. Hey, this is kind of a weird one.

2020
01:28:57,600 --> 01:29:03,000
Speaker 5: So this being pitched at gen Z and it seems

2021
01:29:03,040 --> 01:29:06,479
Speaker 5: no one else there is. As there's a way basically

2022
01:29:06,520 --> 01:29:09,599
Speaker 5: that you can willingly sell your data online. So there's

2023
01:29:09,600 --> 01:29:11,920
Speaker 5: an app that you can now download called verb dot

2024
01:29:11,960 --> 01:29:15,040
Speaker 5: ai and if you put verb dot ai on your phone,

2025
01:29:15,160 --> 01:29:18,600
Speaker 5: basically it will pay you to give it the permission

2026
01:29:19,439 --> 01:29:21,280
Speaker 5: to track all of your data, and it seems like

2027
01:29:21,280 --> 01:29:22,800
Speaker 5: a reasonable amount of money that it's gonna pay you,

2028
01:29:22,920 --> 01:29:24,880
Speaker 5: like fifty US dollars or more a month, and it

2029
01:29:24,880 --> 01:29:27,280
Speaker 5: goes up or down based on you know, how much

2030
01:29:27,320 --> 01:29:29,840
Speaker 5: you use your phone or various other factors I guess,

2031
01:29:29,880 --> 01:29:31,760
Speaker 5: like how much you're prepared to let it track and

2032
01:29:31,800 --> 01:29:34,120
Speaker 5: so on. And then if you if you give it

2033
01:29:34,120 --> 01:29:36,600
Speaker 5: the permission and you get paid the money, then it

2034
01:29:36,600 --> 01:29:39,600
Speaker 5: will trackwork, you browse, track work, you buy, track with

2035
01:29:39,840 --> 01:29:41,880
Speaker 5: streaming apps you use, and blah blah blah. It's like

2036
01:29:41,920 --> 01:29:46,679
Speaker 5: basically a constant survey rather than you having to say, oh,

2037
01:29:46,760 --> 01:29:49,600
Speaker 5: I spent so much time on Spotify today and I

2038
01:29:49,640 --> 01:29:52,880
Speaker 5: loved to go and watch you know, Ship's Creek on

2039
01:29:53,160 --> 01:29:56,560
Speaker 5: whatever whatever like, instead of like retrospectively telling people you know,

2040
01:29:56,640 --> 01:29:59,360
Speaker 5: it's just real time collecting that data and apparent. And

2041
01:29:59,360 --> 01:30:01,840
Speaker 5: why the pitching at gen Z is because apparently gen

2042
01:30:01,960 --> 01:30:04,720
Speaker 5: Z don't mind because they are already so used to

2043
01:30:04,760 --> 01:30:07,320
Speaker 5: the idea that they trade their data online, like for

2044
01:30:07,720 --> 01:30:09,400
Speaker 5: using Facebook and stuff. They get Facebook for free and

2045
01:30:09,439 --> 01:30:11,400
Speaker 5: then Facebook takes their data. They're so used to it

2046
01:30:11,640 --> 01:30:13,400
Speaker 5: that they kind of feel like they may as well

2047
01:30:13,439 --> 01:30:15,280
Speaker 5: just make money from it. So you go, there, you go,

2048
01:30:15,320 --> 01:30:17,200
Speaker 5: there's another way. That's what you need to do. Get

2049
01:30:17,200 --> 01:30:19,160
Speaker 5: the kids off the doll, get them the verb dot

2050
01:30:19,160 --> 01:30:21,360
Speaker 5: ai and just sit them on the couch, just just

2051
01:30:21,520 --> 01:30:23,639
Speaker 5: squirrel scrolling where they might make just as much money.

2052
01:30:23,800 --> 01:30:25,160
Speaker 5: Seventeen away from seven.

2053
01:30:26,600 --> 01:30:30,280
Speaker 1: Getting the answers behind the numbers the Budget twenty twenty

2054
01:30:30,280 --> 01:30:33,280
Speaker 1: five on the Business Hour with Hither Duke for cl

2055
01:30:33,360 --> 01:30:36,920
Speaker 1: and Live from Parliaments and Mass Insurance and Investments, Grow

2056
01:30:36,960 --> 01:30:38,320
Speaker 1: your Wealth, Protect Your Future.

2057
01:30:38,439 --> 01:30:39,960
Speaker 6: News talks at b in.

2058
01:30:39,960 --> 01:30:42,000
Speaker 5: The Brady are UK correspondents with us.

2059
01:30:42,000 --> 01:30:45,679
Speaker 21: Hello Ender, Hello Heather, I see you at the beehive.

2060
01:30:46,120 --> 01:30:47,559
Speaker 5: Yes we are. Have you ever been here?

2061
01:30:49,240 --> 01:30:53,559
Speaker 21: I've been past it yeah, actually yeah about twenty years ago.

2062
01:30:53,840 --> 01:30:56,840
Speaker 21: And yeah it's not the prettiest. But then I saw

2063
01:30:56,880 --> 01:30:59,760
Speaker 21: the German posted early on Instagram, so so I know

2064
01:31:00,200 --> 01:31:00,719
Speaker 21: you are.

2065
01:31:02,160 --> 01:31:05,280
Speaker 5: Catching the German. I love it. Hey, Indu, So tell

2066
01:31:05,320 --> 01:31:07,720
Speaker 5: me this is I mean, this is a terrible situation.

2067
01:31:07,960 --> 01:31:12,680
Speaker 5: We've got the diplomats being shot at by the Israelis.

2068
01:31:14,000 --> 01:31:18,360
Speaker 21: Yes, so there's genuine outrage in many European governments today

2069
01:31:18,400 --> 01:31:21,440
Speaker 21: over this. It will be a day for Israeli ambassadors

2070
01:31:21,479 --> 01:31:24,040
Speaker 21: to be called in and I would say given a

2071
01:31:24,080 --> 01:31:26,840
Speaker 21: massive dressing down over this. So for anyone who hasn't

2072
01:31:26,840 --> 01:31:29,640
Speaker 21: seen what has happened, there was a group of diplomats,

2073
01:31:30,000 --> 01:31:36,519
Speaker 21: government appointed diplomats from France, Spain, Ireland, The Russians were there,

2074
01:31:36,560 --> 01:31:39,479
Speaker 21: the Chinese were there, some Egyptian diplomats as well. So

2075
01:31:39,560 --> 01:31:43,439
Speaker 21: there these are, you know, genuine diplomats on a fact

2076
01:31:43,479 --> 01:31:46,920
Speaker 21: finding mission in the West Bank. And what happened was

2077
01:31:46,960 --> 01:31:50,519
Speaker 21: someone apparently stepped off a footpath and the Israeli soldier's

2078
01:31:50,600 --> 01:31:54,280
Speaker 21: response was to fire at them live rounds. These are

2079
01:31:54,280 --> 01:31:57,559
Speaker 21: not plastic bullets, these were live rounds. Now the Israeli

2080
01:31:57,600 --> 01:32:00,439
Speaker 21: military say that there will be an investigation, we know

2081
01:32:00,520 --> 01:32:03,519
Speaker 21: that won't go anywhere. So what's happening today is we're

2082
01:32:03,560 --> 01:32:07,440
Speaker 21: going to see some return diplomatic action from those governments.

2083
01:32:07,439 --> 01:32:11,280
Speaker 21: France and Spain in particular. Ireland won't be calling in

2084
01:32:11,320 --> 01:32:14,400
Speaker 21: the Israeli ambassador because they left in a huff last year.

2085
01:32:14,479 --> 01:32:19,080
Speaker 21: They felt Ireland was an anti Semitic country apparently, which

2086
01:32:19,120 --> 01:32:22,120
Speaker 21: is just ridiculous. So they'll be called in, they'll be

2087
01:32:22,120 --> 01:32:25,240
Speaker 21: given addriss dressing down. But you just wonder what goes

2088
01:32:25,320 --> 01:32:30,080
Speaker 21: through someone's head to fire assault rifles at European diplomats.

2089
01:32:30,640 --> 01:32:33,200
Speaker 5: Yeah, totally, and explain to me what's going on with

2090
01:32:33,240 --> 01:32:35,479
Speaker 5: this Irish reper Why was he flying to his ball

2091
01:32:35,479 --> 01:32:36,120
Speaker 5: of leg.

2092
01:32:37,240 --> 01:32:40,800
Speaker 21: So they're from West Belfast. They are young Irish Republicans.

2093
01:32:40,840 --> 01:32:44,200
Speaker 21: They are a group called Kneecap. They were nominated for

2094
01:32:44,320 --> 01:32:47,120
Speaker 21: all sorts of film awards from Baftis. They were in

2095
01:32:47,160 --> 01:32:51,000
Speaker 21: the running for Oscars last year. They are rappers. It's

2096
01:32:51,640 --> 01:32:54,599
Speaker 21: a trio from West Belfast, young guys in their twenties.

2097
01:32:55,080 --> 01:32:59,760
Speaker 21: Lim o'hannah is one of the lead rappers and he

2098
01:32:59,840 --> 01:33:03,200
Speaker 21: got by the stage name Macora, which is an Irish

2099
01:33:03,240 --> 01:33:06,600
Speaker 21: language phrase it means my friend. And what's happened is

2100
01:33:06,600 --> 01:33:10,080
Speaker 21: they've got extremely popular. They're pushing the Irish language. They're

2101
01:33:10,080 --> 01:33:14,080
Speaker 21: calling for Ireland to be united again for a thirty

2102
01:33:14,080 --> 01:33:18,200
Speaker 21: two county republic, and their music is really streaming very well,

2103
01:33:18,240 --> 01:33:20,679
Speaker 21: so they're making a lot of headlines. What has happened

2104
01:33:20,760 --> 01:33:24,360
Speaker 21: is they've really upset the establishment here and of course

2105
01:33:24,360 --> 01:33:28,160
Speaker 21: they've upset Israel because of their support for the Palestinian

2106
01:33:28,200 --> 01:33:31,679
Speaker 21: people and the people of Gaza in particular. So people

2107
01:33:31,720 --> 01:33:34,400
Speaker 21: have gone through the Internet. They've gone through videos and

2108
01:33:34,479 --> 01:33:37,280
Speaker 21: there is an allegation that one of them flew a

2109
01:33:37,360 --> 01:33:41,280
Speaker 21: Hezbola flag at a gig in North London in November. Now,

2110
01:33:41,439 --> 01:33:45,320
Speaker 21: Hezbola is a banned organization in the UK. Support for

2111
01:33:45,400 --> 01:33:49,680
Speaker 21: them is a political a criminal offense, I should say so.

2112
01:33:50,200 --> 01:33:53,720
Speaker 21: A letter has been received by this rapper charging him

2113
01:33:53,800 --> 01:33:58,599
Speaker 21: under counter terrorism legislation. He's due at Westminster Magistrates in June.

2114
01:33:58,680 --> 01:34:01,479
Speaker 21: But I would say it's possibly the best publicity they

2115
01:34:01,520 --> 01:34:03,639
Speaker 21: could have ahead of a busy summer of gigs. They're

2116
01:34:03,680 --> 01:34:05,800
Speaker 21: even playing Glastonbury Festival.

2117
01:34:05,439 --> 01:34:08,479
Speaker 5: Here jays, Yeah, okay, that is good pablicity. Then hey,

2118
01:34:08,479 --> 01:34:10,680
Speaker 5: in the now, you're going on a break. But are

2119
01:34:10,680 --> 01:34:12,439
Speaker 5: you actually just going on gigantic run?

2120
01:34:13,680 --> 01:34:17,639
Speaker 21: Yes, so wait for us. I'm very nervous. I'm heading

2121
01:34:17,680 --> 01:34:20,519
Speaker 21: to South America for the first time in my forty

2122
01:34:20,600 --> 01:34:23,720
Speaker 21: nine years on God's Earth. I'm heading to Peru. There

2123
01:34:23,760 --> 01:34:26,439
Speaker 21: is a race in the Amazon starting next Sunday called

2124
01:34:26,479 --> 01:34:30,639
Speaker 21: the Jungle Ultra two hundred and thirty kilometers. Me my rucksack,

2125
01:34:30,720 --> 01:34:33,880
Speaker 21: a sleeping bag and some food and a hammock. What

2126
01:34:34,000 --> 01:34:35,160
Speaker 21: could possibly go wrong here?

2127
01:34:35,240 --> 01:34:37,080
Speaker 5: How long does it take you to run two hundred

2128
01:34:37,080 --> 01:34:39,280
Speaker 5: and thirty ks, So.

2129
01:34:39,200 --> 01:34:41,080
Speaker 21: It's five marathons in five days.

2130
01:34:41,280 --> 01:34:41,639
Speaker 6: Roughly.

2131
01:34:42,880 --> 01:34:46,080
Speaker 21: You run, you camp, you sleep, you eat, you get

2132
01:34:46,160 --> 01:34:49,320
Speaker 21: up and go again five times. Some of the fittest

2133
01:34:49,320 --> 01:34:51,680
Speaker 21: people on Earth are heading there, and I'll be joining them.

2134
01:34:51,680 --> 01:34:53,080
Speaker 21: So look, they're going.

2135
01:34:53,080 --> 01:34:54,560
Speaker 6: Tell me more about this.

2136
01:34:54,920 --> 01:34:56,799
Speaker 5: What are you carrying your own food?

2137
01:34:57,960 --> 01:35:01,920
Speaker 21: Yes, so it's like dried so it looks like sawdust

2138
01:35:02,000 --> 01:35:04,240
Speaker 21: and then you add hot water and it turns magically

2139
01:35:04,240 --> 01:35:06,080
Speaker 21: into carbonara or spaghetti or.

2140
01:35:07,400 --> 01:35:09,280
Speaker 5: Do you have to carry You don't have to carry

2141
01:35:09,360 --> 01:35:10,920
Speaker 5: enough water for five days, do.

2142
01:35:10,960 --> 01:35:15,519
Speaker 21: You No, there's water stops every ten kilometers, so I

2143
01:35:15,560 --> 01:35:17,519
Speaker 21: think the key, Yeah, the key to this will be

2144
01:35:17,560 --> 01:35:21,360
Speaker 21: staying hydrated using my brain. And you know, there's some

2145
01:35:21,400 --> 01:35:23,519
Speaker 21: people who are going to compete, and they are very

2146
01:35:23,600 --> 01:35:26,080
Speaker 21: very fit, fast people. Good luck to them. I'm going

2147
01:35:26,120 --> 01:35:29,160
Speaker 21: for the experience. I'm going to complete and if i

2148
01:35:29,200 --> 01:35:30,760
Speaker 21: can get round and get a medal at the end,

2149
01:35:30,800 --> 01:35:33,240
Speaker 21: I'll be very very happy. It's in a place called

2150
01:35:33,439 --> 01:35:36,920
Speaker 21: Manu National Park, just on the border with Brazil, deep

2151
01:35:36,960 --> 01:35:40,400
Speaker 21: inside the Amazon. And then yeah, I'm not great with

2152
01:35:40,439 --> 01:35:43,480
Speaker 21: spiders and insects either, so never mind humidity and altitudes.

2153
01:35:44,080 --> 01:35:45,840
Speaker 21: Let's see I'll have some yarns for you. When I

2154
01:35:45,880 --> 01:35:47,840
Speaker 21: see in a fortnite Wow, in the.

2155
01:35:47,800 --> 01:35:50,120
Speaker 5: High burst of luck, you are honestly a superhuman go

2156
01:35:50,240 --> 01:35:52,680
Speaker 5: and look after yourself and stay stay as safe as

2157
01:35:52,720 --> 01:35:57,439
Speaker 5: possible into Brady UK correspondent and the show's Superman. Just

2158
01:35:57,520 --> 01:35:59,920
Speaker 5: very quickly. It looks like the number of school kids.

2159
01:36:00,000 --> 01:36:02,320
Speaker 5: I thought this was fascinating. A number of school kids

2160
01:36:02,680 --> 01:36:05,320
Speaker 5: living in Wellington City has dropped off quite significantly. So

2161
01:36:05,520 --> 01:36:08,200
Speaker 5: Infanmetrics has done the data and it looks like in

2162
01:36:08,240 --> 01:36:10,839
Speaker 5: the last ten years has dropped off by about four thousand.

2163
01:36:11,240 --> 01:36:13,479
Speaker 5: And it's the wealthy suburbs that are the biggest fallers.

2164
01:36:13,479 --> 01:36:15,920
Speaker 5: It's the Seatoons and the Wades Town and the Calvins

2165
01:36:15,920 --> 01:36:18,200
Speaker 5: and stuff and a god only knows where. Maybe families

2166
01:36:18,200 --> 01:36:22,040
Speaker 5: can't afford to live in Wellington City. One primary school

2167
01:36:22,120 --> 01:36:24,719
Speaker 5: Io School has lost one in three of their kids.

2168
01:36:25,320 --> 01:36:27,880
Speaker 5: For every three kids, they've only got two now and

2169
01:36:27,920 --> 01:36:29,519
Speaker 5: it looks like what's happened as a whole bunch of

2170
01:36:29,520 --> 01:36:31,360
Speaker 5: them have moved out to the other suburbs. So the

2171
01:36:31,400 --> 01:36:33,920
Speaker 5: region outside of Wellington City, like Churton Park and stuff,

2172
01:36:33,920 --> 01:36:36,559
Speaker 5: has gone up. Maybe that's the explanation but isn't that strange?

2173
01:36:36,640 --> 01:36:40,280
Speaker 5: Just all the kids leaving Wellington City. Eight away from seven.

2174
01:36:41,120 --> 01:36:43,719
Speaker 1: It's the heather too for see allan Drive full show

2175
01:36:43,800 --> 01:36:47,280
Speaker 1: podcast on iHeartRadio powered by newstalk ZEBBI.

2176
01:36:50,120 --> 01:36:52,160
Speaker 5: Six away from seven. I have got a text here

2177
01:36:54,040 --> 01:36:58,840
Speaker 5: high German. Yes, Laura, is this your first text? Is

2178
01:36:58,880 --> 01:37:02,680
Speaker 5: this the first text of the text? Laura? Come here

2179
01:37:02,720 --> 01:37:06,160
Speaker 5: that microphonees for you. I have had so many texts

2180
01:37:06,280 --> 01:37:08,600
Speaker 5: asking me to just let you say one thing on

2181
01:37:08,640 --> 01:37:10,479
Speaker 5: air so people can hear what you sound like and

2182
01:37:10,520 --> 01:37:12,720
Speaker 5: if you actually sound like a German or not. So

2183
01:37:12,840 --> 01:37:14,920
Speaker 5: tell me this. Let's do the test that we always

2184
01:37:14,920 --> 01:37:18,479
Speaker 5: do for people. What did you have for lunch testing today?

2185
01:37:20,000 --> 01:37:22,400
Speaker 2: The lunch extra you today was quite exciting because in

2186
01:37:22,439 --> 01:37:24,400
Speaker 2: the budget day lockup you get sushi.

2187
01:37:24,800 --> 01:37:28,280
Speaker 5: Yes, it's crap sushi the way because there's no meat

2188
01:37:29,439 --> 01:37:33,080
Speaker 5: and there's it's tofu but there's no salmon. It just works.

2189
01:37:33,320 --> 01:37:36,320
Speaker 15: There were sandwiches sandwich.

2190
01:37:36,720 --> 01:37:38,519
Speaker 5: Oh, I had one with a relish and a cheese.

2191
01:37:39,600 --> 01:37:43,400
Speaker 5: It was god. A fruit platter, yes, the for laffel

2192
01:37:43,479 --> 01:37:47,400
Speaker 5: with the big the big do yogurt based thing.

2193
01:37:47,439 --> 01:37:49,720
Speaker 12: And here I think there was tea.

2194
01:37:50,960 --> 01:37:52,400
Speaker 5: Now what did you think of the German.

2195
01:37:52,600 --> 01:37:54,439
Speaker 12: She doesn't even sound.

2196
01:37:54,280 --> 01:37:56,800
Speaker 5: No, you don't. She's such a fake it. She puts

2197
01:37:56,800 --> 01:37:59,160
Speaker 5: on it honestly just for the radio, puts on a

2198
01:37:59,240 --> 01:38:02,320
Speaker 5: keywa accent. But the the time, like straight out of

2199
01:38:02,360 --> 01:38:05,240
Speaker 5: the back blocks of Germany. Somewhere. We have got down.

2200
01:38:05,400 --> 01:38:07,439
Speaker 5: Thank you for doing that, Laura. You are a good sort.

2201
01:38:07,439 --> 01:38:10,120
Speaker 5: We're all very You should have warned me no, because

2202
01:38:10,120 --> 01:38:11,439
Speaker 5: then you wouldn't have done it. You would have made

2203
01:38:11,439 --> 01:38:13,400
Speaker 5: sure you were out of here by now where. It's

2204
01:38:13,400 --> 01:38:15,400
Speaker 5: an honor to work with you in a blessing because

2205
01:38:15,439 --> 01:38:16,680
Speaker 5: you do most of the work and then the rest

2206
01:38:16,720 --> 01:38:19,000
Speaker 5: of us just look good. We have got down to

2207
01:38:19,000 --> 01:38:20,559
Speaker 5: the we got to the bottom of who put in

2208
01:38:20,600 --> 01:38:24,360
Speaker 5: the ACT party tea in the container for us? I

2209
01:38:24,439 --> 01:38:27,080
Speaker 5: text David Seymour, I said, was it you? He said no,

2210
01:38:27,160 --> 01:38:30,360
Speaker 5: because robots don't have hearts, obviously, But he says somebody

2211
01:38:30,360 --> 01:38:32,639
Speaker 5: in his office did do it and has taken credit

2212
01:38:32,680 --> 01:38:35,720
Speaker 5: for it at the Act Party post budget drinks, but

2213
01:38:35,840 --> 01:38:40,040
Speaker 5: he couldn't say who it was, and so the you go, Simon,

2214
01:38:40,080 --> 01:38:43,840
Speaker 5: the communications guy just Dona, I don't know what happened.

2215
01:38:43,880 --> 01:38:45,759
Speaker 5: He should have taken credit for it, shouldn't he anyway,

2216
01:38:45,760 --> 01:38:47,280
Speaker 5: So there you go to the act party. Thank you

2217
01:38:47,320 --> 01:38:48,400
Speaker 5: for the tea you got us through.

2218
01:38:48,800 --> 01:38:50,719
Speaker 11: Go on, as I thought we'd go out with mister

2219
01:38:50,760 --> 01:38:54,720
Speaker 11: bo Jangles today. Here mister bo Jangles, you may way

2220
01:38:54,800 --> 01:38:56,840
Speaker 11: not know, was actually about a real person. It was

2221
01:38:56,880 --> 01:39:00,519
Speaker 11: written by Jerry Jeff Walker when he was in jail

2222
01:39:00,600 --> 01:39:03,520
Speaker 11: in New Orleans. He was in there for public intoxication

2223
01:39:03,800 --> 01:39:04,920
Speaker 11: and there was a guy in the cell with him

2224
01:39:04,920 --> 01:39:07,880
Speaker 11: who was a homeless guy who went by mister Bojangles

2225
01:39:07,960 --> 01:39:10,960
Speaker 11: to conceal his true identity from the police. And apparently

2226
01:39:10,960 --> 01:39:12,280
Speaker 11: he did a tap dance for them all in the

2227
01:39:12,280 --> 01:39:15,200
Speaker 11: cell to keep their spirits up. This particular cover version

2228
01:39:15,280 --> 01:39:17,800
Speaker 11: is by Robbie Williams. I'm sure the Prime Minister must

2229
01:39:17,840 --> 01:39:19,120
Speaker 11: have heard it, which is where he got this funny

2230
01:39:19,160 --> 01:39:21,160
Speaker 11: joke about the opposition leader today when.

2231
01:39:20,960 --> 01:39:23,559
Speaker 5: You say funny and what do you actually mean?

2232
01:39:23,840 --> 01:39:25,640
Speaker 11: Air quotes and you always wonder as well, did he

2233
01:39:25,680 --> 01:39:27,120
Speaker 11: come up with or did one of his people come

2234
01:39:27,200 --> 01:39:28,720
Speaker 11: up with it? But the fact that he made the

2235
01:39:28,840 --> 01:39:31,679
Speaker 11: joke like twice in Parliament just to make sure everyone

2236
01:39:31,720 --> 01:39:34,160
Speaker 11: got it. And then apparently somebody and his team sent

2237
01:39:34,200 --> 01:39:38,200
Speaker 11: you a text reminding you of or possibly him reminding it.

2238
01:39:38,240 --> 01:39:39,560
Speaker 11: I think that might be one of his, and I

2239
01:39:39,640 --> 01:39:40,920
Speaker 11: think he might be quite proud of it. I don't

2240
01:39:40,920 --> 01:39:42,439
Speaker 11: know if i'd be as proud of it as he is.

2241
01:39:42,720 --> 01:39:47,000
Speaker 5: Yes, funny joke, all right, listen, enjoy the receive evening,

2242
01:39:47,360 --> 01:39:48,759
Speaker 5: see you tomorrow and you still sippy?

2243
01:39:52,520 --> 01:40:02,320
Speaker 15: I'm mister Jamles, come back, please.

2244
01:40:03,640 --> 01:40:04,240
Speaker 18: Go back at this.

2245
01:40:04,600 --> 01:40:05,760
Speaker 6: Can't miss the Botchers.

2246
01:40:23,760 --> 01:40:26,920
Speaker 1: For more from Hither Duplessy, Allen Drive, listen live to

2247
01:40:27,040 --> 01:40:30,080
Speaker 1: news Talks it'd be from four pm weekdays, or follow

2248
01:40:30,120 --> 01:40:31,880
Speaker 1: the podcast on iHeartRadio