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Speaker 1: Digging through the spin spins to find the real story.

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Speaker 1: Or it's Ryan Bridge on Heather Dupice Ellen Drive with

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Speaker 1: One New Zealand let's get connected and news talks.

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Speaker 2: That'd be good.

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Speaker 3: Afternoon, It is four oh seven. Great to have your

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Speaker 3: company the OCA as expected, A cut is coming, but

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Speaker 3: more and sooner on the way. We're across that. This

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Speaker 3: afternoon we're live with Wayne Brown is having another crack

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Speaker 3: in Auckland's. Plus the ends at our boss Mark Robinson

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Speaker 3: on the Ineos battle. It's a game of chicken for him.

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Speaker 3: Also this afternoon we'll look at why are more older

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Speaker 3: people dying on our roads bridge? So the Reserve Bank

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Speaker 3: has done exactly what the pundit said they would do

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Speaker 3: and dropped fifty points. What's more, they have said they'll

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Speaker 3: go lower and faster with the cuts than they told

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Speaker 3: us they would last time. This is darts a dependent

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Speaker 3: of course, but they should cut another fifty points by midyear.

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Speaker 3: Then by the end of the year we should get

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Speaker 3: to three percent, so basically another seventy five points to

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Speaker 3: go yet then when you're looking basically at a far

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Speaker 3: more neutral rate at that point, by Christmas, a far

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Speaker 3: more neutral interest rate where it's neither driving nor starving

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Speaker 3: the economy of oxygen. And that is good if you're

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Speaker 3: a homeowner with a tuckapunicized mortgage on your house. But

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Speaker 3: the word from all in his body's done at the

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Speaker 3: Central Bank today was don't expect longer term mortgage rates

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Speaker 3: to come down too much more. That's your two to

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Speaker 3: five year rates. Why because they're driven largely by offshore

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Speaker 3: borrowing conditions, which basically aren't that great right now for

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Speaker 3: a bunch of reasons. So yes, this is good. We're

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Speaker 3: coming down the slope further. But you can't help but

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Speaker 3: feel a little pissed off, a little peeved, I should

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Speaker 3: say that we had to climb so high and so

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Speaker 3: fast in the first place. You look at the Australians yesterday.

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Speaker 3: Sure their ocr is higher than ours at the moment,

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Speaker 3: but they have kept it lower and didn't go as

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Speaker 3: early as we did. We hiked like Hillary Everest and

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Speaker 3: we're heading for growth of what half a percent this

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Speaker 3: year the Aussies two percent. Make no mistake, it was

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Speaker 3: the same lot standing down there in Wellington today crowing

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Speaker 3: about dropping rates, telling us the economies on the men

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Speaker 3: that through the punches that we are feeling right now,

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Speaker 3: and when you look across the Tasman you can feel

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Speaker 3: the gut punch. The bigger problem for us, of course,

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Speaker 3: is not just that we're looking across the Tasman. It's

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Speaker 3: that we're packing up and moving there as well. Here

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Speaker 3: is hoping that today's cut and the more to come

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Speaker 3: that they've signaled will help stop the exodus. Ryan Bridge,

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Speaker 3: nine after four here on News TALKSB. It could soon

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Speaker 3: be in chery news. It could soon be cheaper and

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Speaker 3: easier to repair your faulty or broken goods. That's if

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Speaker 3: an amendment to the Consumer Guarantees and Act becomes law.

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Speaker 3: The Right to Repair Amendment Bill has its first reading

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Speaker 3: in Parliament today and would require manufacturers to make repair

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Speaker 3: parts and information more available to consumers. Dr Paul Smith

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Speaker 3: is from the Right to Repair altierro A coalition and

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Speaker 3: he's with me this afternoon. Paul good A.

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Speaker 4: Good good day, Ryan. How are you doing?

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Speaker 5: Yeah?

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Speaker 3: Good, thank you. What's the current loophole that means manufacturers

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Speaker 3: don't have to repair their products here?

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Speaker 4: Oh yeah, now that's a great one. If I paraphrase it,

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Speaker 4: it is you have to provide repair facilities and repair

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Speaker 4: tools and parts. Unless you say you don't, And basically

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Speaker 4: that means you should tell consumers upfrunt that repair for

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Speaker 4: a particular product is not available, But in practice that

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Speaker 4: means it can be buried away on a website somewhere

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Speaker 4: in some terms and conditions, or as we find in practice,

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Speaker 4: actually it's never really policed. So a lot of them

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Speaker 4: just don't bother.

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Speaker 3: Aren't things so cheap in Techi these days anyway that

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Speaker 3: you I mean, you wouldn't want to repair them. It's

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Speaker 3: so much cheaper to just buy a new thing.

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Speaker 4: Yeah, And that's one of the problems that we're trying

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Speaker 4: to fix with this. Partly, what we've found is a

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Speaker 4: lot of people want to repair, but they struggle because

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Speaker 4: repair is just so difficult and so expensive, and it's

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Speaker 4: got to the point where, yeah, buying something new in

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Speaker 4: a lot of cases is cheaper than even getting somebody

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Speaker 4: to look at the product to assess whether it's repairable.

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Speaker 4: And that's partly because products aren't repaarable at the moment,

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Speaker 4: a lot of them, and they've been designed to make

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Speaker 4: it quite difficult to repair, to force everybody into buy

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Speaker 4: a new stuff.

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Speaker 3: Yeah, but that's because they're cheaply made because what you're

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Speaker 3: proposing would make stuff more expensive, wouldn't that because if

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Speaker 3: it was able to be repaired, it would be more

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Speaker 3: costly to make. Plus you have to factor in the

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Speaker 3: cost of repairs. Don't we just want cheaper stuff.

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Speaker 4: Well, one of the problems we've got is one of

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Speaker 4: the things that won't make it more expensive is we've

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Speaker 4: had this Great Consumer Guarantees Act since nineteen ninety three,

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Speaker 4: and as part of that, manufacturers have to support their

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Speaker 4: products beyond their nominal short usually one year warranty.

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Speaker 3: No no, I get that, but the fact that they

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Speaker 3: have to factor in the cost of repairing stuff would

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Speaker 3: make the initial upfront cost more expensive.

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Speaker 4: A lot of the things that we're talking about as

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Speaker 4: being repairable are not changes to the product themselves, and

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Speaker 4: that's sort of like a real long term game is

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Speaker 4: to try and make things more reparable in the first place.

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Speaker 4: But it's things like what happens when you break the

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Speaker 4: jug of your blender and you can't get that jug,

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Speaker 4: and that's not something that you need to change the

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Speaker 4: product for. That's just making that part available for you,

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Speaker 4: or seals on a coffee machine, something like that.

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Speaker 3: Okay, interesting, I would love to know what people think

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Speaker 3: about this one. Dr Paul Smith, thank you very much

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Speaker 3: for your time. Great to have you on the show.

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Speaker 3: The Doctor Paul Smith is from the Right to Repair

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Speaker 3: Altre coalition. This is in the name of Madame and

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Speaker 3: Davidson from the Greens. This bill that's going before the House.

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Speaker 3: It's a member's bill. Obviously, we'd love to know your thoughts.

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Speaker 3: What have you had recently break on you that you've

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Speaker 3: actually wanted repaired? I mean the fridge. I've had the

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Speaker 3: fridge repaired recently. But in terms of you know, little

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Speaker 3: gadgets and things, everything's so cheap that you just don't

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Speaker 3: you just go out and buy a new one, don't you.

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Speaker 3: Nine two ninety two is the number text thirteen after

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Speaker 3: four Darci here was sport.

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Speaker 1: Next, it's the Heather to Bussy allan Drive full show

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Speaker 1: podcast on iHeartRadio powered by News Talk ZEBB.

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Speaker 3: Quarter past four. News Talk said the Ryan to repair

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Speaker 3: a fifteen dollar kettle from Kmart would cost way more

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Speaker 3: than the purchase price. This is Green Party stupidity, says Steve.

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Speaker 3: I think that this is the bill that they're currently

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Speaker 3: debating and were they're going to debate today in Parliament

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Speaker 3: to force manufacturers to repair stuff that breaks.

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Speaker 6: I could like getting that through Apple.

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Speaker 3: Well, yeah, there's two different Well, there's two different kettles

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Speaker 3: of fish here. One is the expensive products that you

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Speaker 3: actually want to be replaced or repaired, I should say,

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Speaker 3: And then there's the cheaper products that it's probably just

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Speaker 3: cheaper to go and buy a new one sixteen and

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Speaker 3: after four Darci's here, Hey, Darcy, Oh it's the land

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Speaker 3: ill man. Well, I do throw a lot and I

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Speaker 3: must admit I do throw a lot of stuff out,

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Speaker 3: A lot.

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Speaker 6: Of my stuff. Just go to leg options for.

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Speaker 7: Deceased the States, because all the stuff those older people

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Speaker 7: have got last for generations.

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Speaker 6: It's brilliant.

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Speaker 3: Yeah, that's true. Although there's those people that go around

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Speaker 3: now and raid all of the op shops and all

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Speaker 3: of those estate sales for their very expensive boutique second

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Speaker 3: hand stores.

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Speaker 7: You need to go to the middle of the country

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Speaker 7: and they don't have that rubbishcale.

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Speaker 3: Probably right, black Caps are playing Pakistan. It's at ten

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Speaker 3: o'clock tonight.

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Speaker 7: Yeah, ten o'clock tonight, so a little wand to three

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Speaker 7: to five six in the morning. Good luck with that one.

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Speaker 7: But it's the start of the champions Trophy's very short

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Speaker 7: sharp a tournament that New Zealand won back in two

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Speaker 7: thousand and up until the World Test Championship, is the

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Speaker 7: only thing that New Zealand had won on that global stage.

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Speaker 7: And Chris Keane's going to join us on the show

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Speaker 7: to night up after seven o'clock to talk about that

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Speaker 7: and the chances of course of New Zealand and where

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Speaker 7: it actually sits in the wider scale of thing. It's

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Speaker 7: such a congested city scape when you look at all

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Speaker 7: the peaks and troughs of all the major events.

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Speaker 6: What is actually important in cricket?

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Speaker 8: Now?

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Speaker 6: Where does it sit?

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Speaker 7: How do people carry these events? Is it ipl is

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Speaker 7: at the Test Championship?

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Speaker 6: Is it the T twenty matches? Is it the Champions Trophy,

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Speaker 6: the the World Cup? Just is they're everywhere, They're everywhere.

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Speaker 7: You stand in the wrong spot and you'll get a

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Speaker 7: champions trophy in your foot. So we'll talk to him

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Speaker 7: about that up after seven o'clock.

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Speaker 3: The All Blacks are going to play Ireland. This is

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Speaker 3: in Chicago in the States, which there's a lot of

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Speaker 3: Irish Americans there. I wonder why, if that's why they've

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Speaker 3: gone that side of the well.

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Speaker 7: Soldier Field is where the unbelievable actually happened and the

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Speaker 7: All Blacks got rolled by Ireland back in the day.

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Speaker 6: When was that twenty seventeen.

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Speaker 7: Twenty six is a while ago, now, that's how long.

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Speaker 7: So New Zealand rugby plainly they want to get a footprint.

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Speaker 7: They want traction in the United States of America. World

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Speaker 7: Cups coming up there in a handful of years, so

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Speaker 7: they need make events to go to their paymasters and

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Speaker 7: say we'd like to put on the game here. And

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Speaker 7: the rivalry now between Ireland and New Zealand is and

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Speaker 7: chance as it gets. So it's a real shame we

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Speaker 7: don't get to have it on our own shores. But

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Speaker 7: increasing of the All blackses and ours. It's an international

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Speaker 7: property that the Union are going to sell off to

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Speaker 7: everybody else.

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Speaker 3: And they need to do what Daytona did and get

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Speaker 3: Donald Trump to the game, and then you get eyeballs

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Speaker 3: and then.

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Speaker 7: Well that's what Vlandy's just trying to do.

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Speaker 6: He's rady big right now.

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Speaker 7: Please please come in darken our door with your shadow.

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Speaker 9: We want the bunters.

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Speaker 3: Darcy. Thank you, We look forward to seeing you tonight.

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Speaker 3: Darcy Waldegrave sports talk host seven o'clock tonight on News

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Speaker 3: Talk said, be it's just gone nineteen minutes after four

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Speaker 3: lots of text coming on things that you have wanted

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Speaker 3: to get repaired but for whatever reason the manufacturer has

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Speaker 3: said nay. We'll get to those in a second. Plus

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Speaker 3: lots of news out of Europe and Ukraine. We'll get

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Speaker 3: to that as well.

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Speaker 1: Recapping the day's big news and making tomorrow's headlines. It's

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Speaker 1: Ryan Bridge on Heather Duper see Ellen drive with one

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Speaker 1: New Zealand let's get connected news talks that'd be.

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Speaker 3: For twenty one. So this Repair your Products Bill is

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Speaker 3: going before Parliament today and there is no shortage of

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Speaker 3: support for it on the text machine. Hi, Ryan, I

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Speaker 3: needed a new hose for my water blaster. Still try

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Speaker 3: to charge me half the price of the water blaster

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Speaker 3: for one part. See this is the thing it's going

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Speaker 3: to be. It's one of those vote winners. Be interesting

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Speaker 3: to see what happens, you know, where the parties fall

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Speaker 3: on this bill, because it's a Green member's bill, it's

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Speaker 3: Madame and Davidson's bill that's been plat from the ballots,

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Speaker 3: so it'd be interesting to see where the parties fall brilliant,

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Speaker 3: Bill says silly. I think you mean Sally silly, Sally,

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Speaker 3: brilliant Bill. I had a three thousand dollars coffee machine.

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Speaker 3: It broke within three years. Andrevil Techs came to look

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Speaker 3: at it to fix. The cost fourteen hundred dollars. The

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Speaker 3: parts all from overseas. You can't do it online and

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Speaker 3: manually order them yourself. So a lot of people will

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Speaker 3: have sympathy for this Bill. I think just gone twenty

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Speaker 3: two minutes after four. Trump had a press conference today

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Speaker 3: and I had to listening to it just because I

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Speaker 3: find them sort of entertaining. Anyways, talking about Ukraine, obviously

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Speaker 3: you've had Rubio and Lavrov over in Saudi Arabia having

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Speaker 3: a chat. Trump reckons the whole thing, the whole war

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Speaker 3: in Ukraine, would never have happened if he was president.

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Speaker 3: And I hear that.

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Speaker 10: You know they're upset about not having a seat, Well,

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Speaker 10: they've had a seat for three years and a long

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Speaker 10: time before that. This could have been settled very easily,

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Speaker 10: just a half a half baked negotiator could have settled

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Speaker 10: this years ago without either without the loss of much land,

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Speaker 10: very little land, without the loss of any lives, and

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Speaker 10: without the loss of cities that are just laying on

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Speaker 10: their sides. You have those magnificent golden domes that are shattered,

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Speaker 10: will never be replaced. You can't replace them.

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Speaker 3: He also said he used to warn Putin not to

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Speaker 3: go into Ukraine.

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Speaker 10: This is something that should have never happened, would have

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Speaker 10: never happened. And I used to discuss it with Putin.

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Speaker 10: President Putin. I know, we'll talk about Ukraine. And it

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Speaker 10: was the apple of his eye, I will tell you that.

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Speaker 10: But he never there was never a chance of him

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Speaker 10: going in. And they told him you better.

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Speaker 2: Not go in, don't go in, don't go in.

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Speaker 6: And he understood that.

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Speaker 3: And Biden comes in and he goes in. And of

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Speaker 3: course Trump says that that he also said in this

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Speaker 3: press conference, and you will see this headline in all

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Speaker 3: of the news today, across the splashed across the news

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Speaker 3: that Trump blamed Ukraine for starting the war. Now he

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Speaker 3: did as a throwaway comment, I think during this press

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Speaker 3: conference say that. I don't think it was the main

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Speaker 3: thrust of what he was getting at. Today. Anyway, lots

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Speaker 3: to update you on when it comes to Ukraine. So

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Speaker 3: miss yesterday we're talking about Starma, So he comes out,

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Speaker 3: you know, Captain Planet, saving Captain Planet. He comes out

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Speaker 3: and says, I will send troops in there and save

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Speaker 3: the day. Now, the UK is a NATO country, right,

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Speaker 3: and Russia has spoken about not wanting NATO troops or

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Speaker 3: NATO peacekeepers at the border because you'll need something down

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Speaker 3: the middle to separate these two borring sites. So Income

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Speaker 3: starma to save the day and say we'll send British

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Speaker 3: troops in there to do that job. But so Lavrov,

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Speaker 3: who's been over in Saudi Arabia, he's come out and

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Speaker 3: slapped him down and said, yet any appearance of armed

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Speaker 3: forces under any flag, doesn't matter which flag they're carrying,

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Speaker 3: completely unacceptable. So he's kind of put a line in

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Speaker 3: the sand there. But you would have to say there,

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Speaker 3: there's got to be some sort of DMZ, doesn't there.

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Speaker 3: I mean, who's going to trust Russia next to an

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Speaker 3: open door nobody, And you've got to I mean, you're

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Speaker 3: going to have some kind of troops in there. I

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Speaker 3: would have thought. Anyway, we're going to talk about that.

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Speaker 3: We've got world wires coming up in just a few

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Speaker 3: moments after the news, so there's lots more to come

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Speaker 3: here on News Talk, said B. Also an interesting development

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Speaker 3: on minerals to do with Ukraine, which I'll get to

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Speaker 3: a little later on. You know, this is approximately twelve

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Speaker 3: trillion US trillion dollars worth of minerals sitting right now

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Speaker 3: under Ukraine. How much of what Putin is doing is

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Speaker 3: to try and get at those minerals? And could the

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Speaker 3: minerals actually help to end the war, because that's certainly

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Speaker 3: what Lindsay Graham is talking about. You know, giving Trump

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Speaker 3: a reason to to bac Ukraine twelve trillion dollars sounds

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Speaker 3: like a pretty good reason to me. Twenty six minutes

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Speaker 3: after four, News Talk the Bay.

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Speaker 11: I can hear your southern draw thousand miles away, changing gold.

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Speaker 12: You're a pink pony girl.

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Speaker 11: You don't have the curb, mama, just.

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Speaker 12: Hom sage in lines. So what down.

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Speaker 1: Informed insight into today's issues. It's Ryan Bridge on Hither

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Speaker 1: Duplessy Alan drive with one New Zealand let's get connected

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Speaker 1: news talks.

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Speaker 2: That'd be you know, going.

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Speaker 3: On pretty far away from If you're on News Talk

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Speaker 3: z B, We're going to talk to Brad Olson after

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Speaker 3: five about the OCR. If you're just joining us, it

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Speaker 3: has dropped fifty basis points as everybody was telling us

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Speaker 3: what happened, and they are going to slightly increase the

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Speaker 3: speed and the size of future cuts, which is good news.

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Speaker 3: One little tidbit from today's press conference that I wanted

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Speaker 3: to share with you. This is from an Interest stock

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Speaker 3: co dot Nz reporter, because you know how they've taken

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Speaker 3: the world's longest summer. I think it's the longest break

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Speaker 3: for any central bank in the world. Anyway, they've taken

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Speaker 3: a very long summer. The last time we heard from

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Speaker 3: them was November is now February, and there was a

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Speaker 3: little dig in this question from a reporter at Interest

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Speaker 3: dot Co.

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Speaker 13: I Dan Broun Skill from Interest stock Code and ZI,

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Speaker 13: nice to see a long time, No see, I was holding.

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Speaker 14: No, it's a good summer holiday.

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Speaker 3: Yeah, yeah, I had one as well.

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Speaker 4: I don't, I don't don't.

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Speaker 9: I don't blame you.

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Speaker 2: It's the world wires on news Talks Drive.

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Speaker 3: And yet he sort of did right. The Americans Russians

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Speaker 3: have met over Ukraine. Zelenski wants a seat at the table,

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Speaker 3: but Trump doesn't see why he should get.

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Speaker 10: One here that you know they're upset about not having

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Speaker 10: a seat. Well, they've had a seat for three years,

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Speaker 10: and a long time before that. This could have been

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Speaker 10: settled very easily. Just a half a half beggd negotiator

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Speaker 10: could have settled this years ago to Gaza.

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Speaker 3: Hamas has announced some hostages will be released this weekend.

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Speaker 3: On Saturday, the twenty second of February, the remaining six

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Speaker 3: living Israeli captives who were due to be released and

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Speaker 3: the first phase of the agreement will be released. They're

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Speaker 3: also going to return the remains of four hostages who've died.

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Speaker 3: In exchange. Israel will release half of the women and

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Speaker 3: children that the IDEF took kept of during the Gaza War. Finally,

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Speaker 3: this afternoon, you know that nearly discovered asteroid that we're

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Speaker 3: tracking like well, I mean like the ocr actually who

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Speaker 3: we've probably been paying more tension to this asteroid on

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Speaker 3: this program. Then we have the OCI bad news. They've

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Speaker 3: updated again. It's track, so NASA says, the chances of

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Speaker 3: a collision in December twenty thirty two, it's now gone

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Speaker 3: from one point nine percent to two point six percent.

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Speaker 3: Remember it was one, then it doubled, Now it's almost

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Speaker 3: doubled again. Astronomers say that since the rock is so

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Speaker 3: far away, at the moment, we can expect to see

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Speaker 3: that number change quite frequently, so we shouldn't apparently shouldn't

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Speaker 3: panic just yet.

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Speaker 1: International correspondence with ends an eye insurance peace of mind

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Speaker 1: for New Zealand business love to.

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Speaker 3: Talk of a meeting between Trump and Poutin. Dan Mitchison

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Speaker 3: is a US correspondent. Dan, Good afternoon, Hey, good afternoon, Ryan.

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Speaker 3: How soon could we see this?

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Speaker 2: Oh?

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Speaker 3: I don't know.

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Speaker 15: I think this is going to be a long time

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Speaker 15: in coming. I mean, you know, as you heard Donald Trump,

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Speaker 15: well you know, mister Trump said that this could have

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Speaker 15: been solved a long time ago. But it's a good start,

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Speaker 15: I guess. I mean, there's three main goals here that

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Speaker 15: want to restore staffing at the embassy's Washington and Russia.

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Speaker 15: According to both countries, they want to create this high

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Speaker 15: level team to support Ukraine peace talks, and they want

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Speaker 15: to explore closer relationships, and I guess more economic tize

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Speaker 15: going on. But here's the thing. I mean, no officials

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Speaker 15: from Ukraine were present at that meeting. So how awkward

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Speaker 15: is it to have two countries talking about your own

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Speaker 15: future and your own fate and you don't have a

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Speaker 15: seat at the table.

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Speaker 3: Yeah, I mean it's a little lift out, but there

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Speaker 3: is still time. I mean they can include a presumably

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Speaker 3: later on down the track, once things are a bit

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Speaker 3: more firmed up.

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Speaker 2: Yeah, yeah, I would, I would.

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Speaker 15: I would hope so at this point in time, but

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Speaker 15: right now, as we know that the relationship between mister

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Speaker 15: Trump and Ukraine is not the best like it was

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Speaker 15: with former President Biden, so it'll be interesting to see.

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Speaker 15: And again right now, Trump thinks that there should have

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Speaker 15: been concessions to Russia before the invasion happened almost three

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Speaker 15: years ago.

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Speaker 3: Speaking of Trump, hey and Elon Musk have just done

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Speaker 3: a joint interview on folks, what's happened then?

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Speaker 15: Well, you know, there's a lot of the stuff that

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Speaker 15: we knew about already, this bromance going on between the two.

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Speaker 15: But one of the interesting points that they brought up

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Speaker 15: during the interview that seemed to surprise Donald Trump was

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Speaker 15: Elon Musk said that he was going to endorse President

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Speaker 15: Trump even before that attempt on his life in Pennsylvania,

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Speaker 15: but he said once that happened, that kind of sped

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Speaker 15: up his decision a little bit. And Trump kind of

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Speaker 15: turned to Musk and said, well, I didn't know that

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Speaker 15: was kind of it, and then Musk said, I was

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Speaker 15: going to do it anyway, but it's kind of interesting

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Speaker 15: to watch these two go back and forth. And I mean,

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Speaker 15: this was supposed to focus on the first one hundred

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Speaker 15: days of President Trump's administration, and Musk kind of goes

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Speaker 15: off on this tangent talking about Trump dearrangement syndrome, and

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Speaker 15: he says he didn't realize it was a real thing

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Speaker 15: until he was at a friend's dinner party a couple

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Speaker 15: of months before the election, and he said, people look

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Speaker 15: like they got I think he said, shot with the

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Speaker 15: dart in the neck and it was like they were

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Speaker 15: on meth and rabies right now. And he said he

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Speaker 15: really was surprised about how adamant people were against voting

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Speaker 15: for for the president at the time.

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Speaker 3: Goodness may AFC and we love a bit of KFC

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Speaker 3: here in New Zealand. Is it going to turn into TFC?

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Speaker 15: Well, it's interesting because first they took the Kentucky out

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Speaker 15: of KFC, and now they're taking the KFC out of Kentucky,

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Speaker 15: so they're moving it to Texas to foster They're saying

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Speaker 15: this collaboration among brands and employees, I don't That sounds

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Speaker 15: like somebody in the PR Department just wrote that up.

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Speaker 15: But basically they're also telling all the remote employees they've

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Speaker 15: got to get back to where the work happens. And

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Speaker 15: what's interesting, though, is that this is becoming more common,

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Speaker 15: not just with KFC, but with companies moving out of

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Speaker 15: states like California and into Texas where they had better

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Speaker 15: tax breaks and the cost of living is less and

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Speaker 15: the cost of doing business is last. And it's also

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Speaker 15: been a problem for a lot of overseas companies. They've

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Speaker 15: been looking to move to states like California or Washington

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Speaker 15: or Oregon. Texas has just become very an inviting place

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Speaker 15: to do business. So you not only have these businesses

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Speaker 15: that are moving, but a lot of people that are

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Speaker 15: moving to to that part of the US over here.

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Speaker 15: But it'll be interesting to see. And you're right about

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Speaker 15: KFC being popular in New Zealand. I think they're the

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Speaker 15: second most popular fast food restaurant behind McDonald's, so not

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Speaker 15: just in New Zealand but in the world.

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Speaker 3: Good stuff, Dan, thank you very much for that. Dan

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Speaker 3: Mitchinson is our US correspondency. Tax breaks do apparently attract

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Speaker 3: multinationals and corporations. It is nineteen minutes away from five

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Speaker 3: News Talk.

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00:22:19,160 --> 00:22:21,000
Speaker 2: Sb Ryan Bridge.

439
00:22:21,200 --> 00:22:24,119
Speaker 3: So Wayne Brown is announcing. He's just announcing as we speak,

440
00:22:24,160 --> 00:22:26,640
Speaker 3: actually that he's going to run for mayor again in Auckland.

441
00:22:26,680 --> 00:22:28,600
Speaker 3: And there's a story I just had to bring you

442
00:22:28,600 --> 00:22:31,080
Speaker 3: out of Brazil today. There's a man by the name

443
00:22:31,160 --> 00:22:35,560
Speaker 3: of Jose Aparigio de Silba, and he was running for

444
00:22:35,920 --> 00:22:39,760
Speaker 3: the mirror of a local district in Brazil up for reelection,

445
00:22:40,440 --> 00:22:43,720
Speaker 3: wasn't doing very well in the polls, quite concerned about

446
00:22:43,760 --> 00:22:46,440
Speaker 3: being turfed out of office. Right, so on the eve

447
00:22:46,480 --> 00:22:50,040
Speaker 3: of the early election, this was last October, terrible news.

448
00:22:50,160 --> 00:22:52,960
Speaker 3: He was seriously hurt by some bad guys with AK

449
00:22:53,119 --> 00:22:56,680
Speaker 3: forty sevens who attacked his motorkate this mayor day before

450
00:22:56,720 --> 00:23:01,280
Speaker 3: the election. Shock horror newspaper headlines. You can turns out

451
00:23:01,600 --> 00:23:07,520
Speaker 3: he hired the hit men, He hired phony hitmen, staged

452
00:23:07,600 --> 00:23:12,320
Speaker 3: a fake assassination and hoped that it would engender a

453
00:23:12,400 --> 00:23:16,120
Speaker 3: public sympathy and would win him the election. Again. Well,

454
00:23:16,160 --> 00:23:19,280
Speaker 3: he has lost the election anyway, there was not much

455
00:23:19,320 --> 00:23:22,720
Speaker 3: sympathy for him. He's now before the courts and the

456
00:23:22,800 --> 00:23:25,800
Speaker 3: shoulder injury he got apparently you know in the process

457
00:23:25,840 --> 00:23:27,520
Speaker 3: they weren't meant to shoot him, but in the process

458
00:23:27,520 --> 00:23:29,600
Speaker 3: they accidentally shot him. So he's got a bullet wound

459
00:23:29,680 --> 00:23:34,440
Speaker 3: in his shoulder for his troubles. Eighteen minutes away from five.

460
00:23:34,760 --> 00:23:37,640
Speaker 1: Politics with Centrics Crey to check your customers and get

461
00:23:37,680 --> 00:23:38,960
Speaker 1: payment Certainty.

462
00:23:38,720 --> 00:23:41,520
Speaker 3: News talks'd b quarter to five. Barries Soper, senior political

463
00:23:41,520 --> 00:23:44,280
Speaker 3: correspondent with US. Hey, Barry, good afternoon. Right, so we've

464
00:23:44,280 --> 00:23:46,320
Speaker 3: had the Oca Adrian Ores come out. He's done a

465
00:23:46,400 --> 00:23:48,440
Speaker 3: press conference, which he have to admit he likes doing,

466
00:23:48,560 --> 00:23:49,040
Speaker 3: doesn't he.

467
00:23:49,119 --> 00:23:52,840
Speaker 6: Well now he does, although he seemed to quite enjoy

468
00:23:52,880 --> 00:23:55,600
Speaker 6: it when he engineered the depression in the first exactly.

469
00:23:55,720 --> 00:23:58,560
Speaker 3: I think he just likes a press conference, period, that's right.

470
00:23:58,960 --> 00:24:02,200
Speaker 3: But anyway, the dancing in the aisles at Parliament, well you're.

471
00:24:02,080 --> 00:24:06,919
Speaker 6: Certainly dancing from the government side, and on a rare occasion,

472
00:24:07,680 --> 00:24:10,920
Speaker 6: both act and nationalist singing from the same hymn that

473
00:24:12,240 --> 00:24:16,679
Speaker 6: they're both praising the efforts of the government collectively for

474
00:24:16,840 --> 00:24:20,400
Speaker 6: where we are at at the moment. So it had

475
00:24:20,440 --> 00:24:23,600
Speaker 6: to come down though it was inevitable that you know,

476
00:24:23,880 --> 00:24:29,919
Speaker 6: inflation was clearly under control. The squeeze the economy had

477
00:24:29,960 --> 00:24:33,400
Speaker 6: been squeezed so hard by Adrian Oren. When you look

478
00:24:33,400 --> 00:24:37,680
Speaker 6: at you know, the years twenty twenty three, twenty four,

479
00:24:38,160 --> 00:24:41,400
Speaker 6: I mean it ranged between I think it was four

480
00:24:41,400 --> 00:24:45,000
Speaker 6: point seven five and five point five and only started

481
00:24:45,040 --> 00:24:48,000
Speaker 6: coming down on October last year. So it's been a

482
00:24:48,040 --> 00:24:53,320
Speaker 6: long hard grind, mainly for the mortgage interest holders. And

483
00:24:53,400 --> 00:24:55,720
Speaker 6: a lot of people ask me about the OCR what

484
00:24:55,760 --> 00:24:58,600
Speaker 6: does it mean three point seven five, Well, that's the

485
00:24:58,720 --> 00:25:01,800
Speaker 6: rate that the banks can horrow money at and the

486
00:25:01,960 --> 00:25:04,520
Speaker 6: margin that the bank set is above that for your

487
00:25:04,560 --> 00:25:08,200
Speaker 6: mortgage and interest rates. So you know, it'll be interesting

488
00:25:08,240 --> 00:25:12,399
Speaker 6: to see if those margins are reduced or stay the same,

489
00:25:12,880 --> 00:25:15,760
Speaker 6: and what real effect that it will have on our

490
00:25:15,800 --> 00:25:16,400
Speaker 6: interest rates.

491
00:25:16,840 --> 00:25:19,480
Speaker 3: Well, it's interesting today listening to that press conference, them

492
00:25:19,520 --> 00:25:22,119
Speaker 3: saying basically, your longer term rates, so anything two to

493
00:25:22,240 --> 00:25:25,440
Speaker 3: five years, don't expect much of men, because most of

494
00:25:25,480 --> 00:25:28,440
Speaker 3: that is influenced by your bank swap rates and your

495
00:25:28,440 --> 00:25:32,640
Speaker 3: international money markets rather than the OCR. So, but your

496
00:25:32,720 --> 00:25:35,359
Speaker 3: floating rates will certainly go up and down. Hey, John Tommaheaty,

497
00:25:35,359 --> 00:25:36,560
Speaker 3: he came out this morning.

498
00:25:36,520 --> 00:25:41,280
Speaker 6: Wellllarm whole John Tama Harry is speaking to somebody. He

499
00:25:41,840 --> 00:25:47,400
Speaker 6: essentially agreed that some photocopf copying had taken place at

500
00:25:47,440 --> 00:25:51,639
Speaker 6: the muddy at the center of all this, and his candidate,

501
00:25:51,720 --> 00:25:54,520
Speaker 6: of course won the election, who was the chief executive

502
00:25:54,920 --> 00:25:58,360
Speaker 6: of the MRA. But it's interesting Tamma Herry has been

503
00:25:58,520 --> 00:26:02,399
Speaker 6: proached approached by News z'd be on many occasions for

504
00:26:02,440 --> 00:26:06,480
Speaker 6: an interview, but the calls go unanswered. But the phone

505
00:26:06,520 --> 00:26:10,159
Speaker 6: was unswered from Radio New Zealand this morning and he

506
00:26:10,240 --> 00:26:14,240
Speaker 6: seemed to suggest the whole thing was a Pakiha conspiracy.

507
00:26:14,359 --> 00:26:16,880
Speaker 16: I think it's in the interest of all pakia that

508
00:26:16,920 --> 00:26:19,920
Speaker 16: they want it sort of out right because the only

509
00:26:19,960 --> 00:26:23,080
Speaker 16: people that get investigated constantly, and there's not one rule

510
00:26:23,080 --> 00:26:25,240
Speaker 16: for law in this country by long shot, from suppresion

511
00:26:25,320 --> 00:26:28,160
Speaker 16: orders all the way through, because we suffer a significant

512
00:26:28,359 --> 00:26:31,919
Speaker 16: microscope have done since I that school have done today

513
00:26:32,280 --> 00:26:35,960
Speaker 16: plays out in different ways. So we will continue to

514
00:26:36,000 --> 00:26:39,639
Speaker 16: participate in the democratic process, whether people like it or not.

515
00:26:40,440 --> 00:26:44,199
Speaker 16: And where we're are growing forced politically in this country,

516
00:26:44,320 --> 00:26:46,320
Speaker 16: that will continue whether people like.

517
00:26:46,280 --> 00:26:46,639
Speaker 17: It or not.

518
00:26:47,440 --> 00:26:51,000
Speaker 6: Hang on though, wasn't the Maori party that called the

519
00:26:51,080 --> 00:26:55,600
Speaker 6: policeman to investigate in the first place. If John's listening,

520
00:26:55,680 --> 00:26:58,560
Speaker 6: you can't have it both ways.

521
00:26:58,240 --> 00:27:01,560
Speaker 3: And Also it was a Mary and Penny Hennade who

522
00:27:01,560 --> 00:27:02,760
Speaker 3: said that they were ripped off.

523
00:27:02,960 --> 00:27:06,240
Speaker 6: I mean, honestly, I'll tell you what the interesting question

524
00:27:06,560 --> 00:27:09,800
Speaker 6: at the end of all of this, if electoral wrong

525
00:27:09,960 --> 00:27:13,600
Speaker 6: doing is found by the police against the Maori Party

526
00:27:13,640 --> 00:27:17,600
Speaker 6: and they vehemently decided to deny that done anything wrong,

527
00:27:18,000 --> 00:27:21,520
Speaker 6: the whole balance of Parliament has been decided on the

528
00:27:21,600 --> 00:27:26,479
Speaker 6: seats like the one that they won. As a result,

529
00:27:26,560 --> 00:27:29,200
Speaker 6: some would say of the vote being jacked up. Now

530
00:27:30,040 --> 00:27:32,320
Speaker 6: where does that leave Parliament.

531
00:27:31,880 --> 00:27:35,440
Speaker 3: And where does and obviously there's a police investigation going

532
00:27:35,440 --> 00:27:37,680
Speaker 3: on all that Privacy commission, and then also the question

533
00:27:37,800 --> 00:27:41,960
Speaker 3: for the Electoral Commission, I mean, why did they let

534
00:27:42,200 --> 00:27:44,280
Speaker 3: a booth go in first place?

535
00:27:44,359 --> 00:27:44,959
Speaker 6: Exactly?

536
00:27:45,080 --> 00:27:48,000
Speaker 3: You know, because it's their job, like in legislation, it's

537
00:27:48,040 --> 00:27:50,960
Speaker 3: their job to run a friend fair election and to separate.

538
00:27:50,520 --> 00:27:52,639
Speaker 6: It from what our bested interests.

539
00:27:53,400 --> 00:27:57,240
Speaker 3: Now the Mexicans stand off, as Shane Jones once eloquently

540
00:27:57,240 --> 00:27:59,159
Speaker 3: put it, between the Greens and New Zealand, first is

541
00:27:59,200 --> 00:28:00,240
Speaker 3: continuing to.

542
00:28:00,520 --> 00:28:02,960
Speaker 6: Yes, it is. And it came down to a bit

543
00:28:02,960 --> 00:28:06,200
Speaker 6: of a history lesson. I mean, Mendis March was born

544
00:28:06,240 --> 00:28:10,240
Speaker 6: in Mexico. His father is Mexican his mother was Key

545
00:28:10,280 --> 00:28:12,840
Speaker 6: Where in Key when he came to New Zealand with

546
00:28:12,880 --> 00:28:18,440
Speaker 6: his mother. The question that led to the debate today

547
00:28:19,280 --> 00:28:23,639
Speaker 6: was to the Immigration Minister, and it started all the

548
00:28:23,720 --> 00:28:27,200
Speaker 6: kafuffle that led to the history lesson does she think

549
00:28:27,200 --> 00:28:32,080
Speaker 6: it's fair to deport people who have been born in troa,

550
00:28:32,880 --> 00:28:36,159
Speaker 6: separating them from communities and their families. It was the

551
00:28:36,280 --> 00:28:39,920
Speaker 6: use of a tro that infuriated Winston Betters and his

552
00:28:40,120 --> 00:28:41,720
Speaker 6: sidekick Shane Jones.

553
00:28:41,760 --> 00:28:44,520
Speaker 18: Here the are that is, someone who applied to come

554
00:28:44,600 --> 00:28:46,880
Speaker 18: to a country called New Zealand as immigrant in two

555
00:28:46,880 --> 00:28:50,000
Speaker 18: thousand and six allowed this House to change the country's

556
00:28:50,040 --> 00:28:53,440
Speaker 18: name without the mandate the approval of raferend of people.

557
00:28:53,720 --> 00:28:56,120
Speaker 18: A person asking the questions an elected member of this

558
00:28:56,200 --> 00:28:58,080
Speaker 18: House go to the treaty.

559
00:28:58,440 --> 00:29:02,600
Speaker 19: New Zealand is translor rated as New Tidny Pember Reeves

560
00:29:02,680 --> 00:29:04,440
Speaker 19: popularized the word altero.

561
00:29:05,000 --> 00:29:07,840
Speaker 20: Would you also be willing to consider whether it is

562
00:29:07,880 --> 00:29:11,400
Speaker 20: appropriate for any member of this House to openly question

563
00:29:11,560 --> 00:29:15,800
Speaker 20: the legitimacy of the presence of another member in order

564
00:29:15,840 --> 00:29:19,080
Speaker 20: to make a political point. Okay, think about that.

565
00:29:19,280 --> 00:29:21,360
Speaker 21: I do think that is worth while considering those comments

566
00:29:21,400 --> 00:29:24,160
Speaker 21: actually reflect outside of the Chambers off this place into

567
00:29:24,200 --> 00:29:27,960
Speaker 21: a broader communities. This incentivating people that may have been

568
00:29:28,320 --> 00:29:30,800
Speaker 21: born overseas from participating in our democracy.

569
00:29:33,440 --> 00:29:37,160
Speaker 19: So can you also contemplate the appropriateness of recent immigrants

570
00:29:37,200 --> 00:29:39,360
Speaker 19: telling maldi is what the name of our country should be?

571
00:29:41,880 --> 00:29:42,360
Speaker 3: Goodness?

572
00:29:42,840 --> 00:29:46,120
Speaker 6: It was Pember Reeves, of course, he wrote the book,

573
00:29:46,360 --> 00:29:48,240
Speaker 6: and he was a politician at the turn of the

574
00:29:49,640 --> 00:29:53,120
Speaker 6: nineteenth century in New Zealand, and he wrote the book

575
00:29:53,360 --> 00:29:55,880
Speaker 6: The Land of the Long White Cloud, which is where

576
00:29:55,960 --> 00:30:00,000
Speaker 6: at Roll came from. And Shane Jones being moldy himself,

577
00:30:00,240 --> 00:30:03,920
Speaker 6: Winston Peter's being Maori himself. They are right, this is

578
00:30:03,960 --> 00:30:07,440
Speaker 6: not a Maori word. It's a word that was taken

579
00:30:07,560 --> 00:30:11,240
Speaker 6: by a European politician and popularized.

580
00:30:11,000 --> 00:30:11,320
Speaker 2: Does it.

581
00:30:11,400 --> 00:30:13,600
Speaker 3: I think he's running into a bit of a problem.

582
00:30:13,600 --> 00:30:17,160
Speaker 3: We probably not electorally for him, but continuing to go

583
00:30:17,240 --> 00:30:21,320
Speaker 3: down the foreign born route. And Winston, oh, you.

584
00:30:21,400 --> 00:30:25,480
Speaker 6: Know that that needling, needling and needling. It's just it's

585
00:30:25,600 --> 00:30:28,600
Speaker 6: pure political theater and they love it.

586
00:30:28,960 --> 00:30:32,760
Speaker 3: They do. I thank you, We right. Oh, it's bloody enjoyable.

587
00:30:33,080 --> 00:30:35,720
Speaker 3: Verry Soper, Senior political correspondent, News Talks. There'll be just

588
00:30:35,760 --> 00:30:37,240
Speaker 3: gone eight away from five.

589
00:30:37,920 --> 00:30:42,320
Speaker 1: Putting the tough questions to the newspeakers. The mic asking Breakfast.

590
00:30:41,880 --> 00:30:44,280
Speaker 22: The Public Service Commissions Report into the use of Census

591
00:30:44,320 --> 00:30:47,600
Speaker 22: in COVID data ad Monea Marai. The Public Service Commissioner

592
00:30:47,640 --> 00:30:48,400
Speaker 22: is Sir Brian Roche.

593
00:30:48,440 --> 00:30:50,480
Speaker 23: Of course, this is a massive wake up call for

594
00:30:50,640 --> 00:30:54,680
Speaker 23: slack practices in like professionalism and the safe guttying of information.

595
00:30:54,920 --> 00:30:56,640
Speaker 22: Explain it to people who are listening to this, because

596
00:30:56,640 --> 00:30:58,760
Speaker 22: on one hand, and I'm sure you're right, there are

597
00:30:58,760 --> 00:31:01,240
Speaker 22: people in the public service who are really good, really skilled,

598
00:31:01,320 --> 00:31:02,920
Speaker 22: and we should value them more than we do.

599
00:31:03,000 --> 00:31:03,880
Speaker 3: And yet you.

600
00:31:03,920 --> 00:31:06,960
Speaker 22: Looked at several departments and each and every one of

601
00:31:07,000 --> 00:31:09,320
Speaker 22: them was hopeless. So how do you balance those two up?

602
00:31:09,400 --> 00:31:11,800
Speaker 23: Yeah, I don't think they were completely hopeless. So it

603
00:31:11,920 --> 00:31:14,080
Speaker 23: challenges there are less and for them to be learned.

604
00:31:14,120 --> 00:31:16,680
Speaker 23: But we can never have this situation occur again.

605
00:31:17,160 --> 00:31:19,920
Speaker 22: Back tomorrow at six am the mic Hosking Breakfast with

606
00:31:19,960 --> 00:31:21,200
Speaker 22: the rain drove of the Laugh.

607
00:31:21,120 --> 00:31:24,200
Speaker 3: News Talk ZB. It is five away from five. So

608
00:31:24,360 --> 00:31:27,120
Speaker 3: the good news keeps coming from Adrian or yes he

609
00:31:27,200 --> 00:31:30,560
Speaker 3: did it again, dropping fifty basis points as was expected.

610
00:31:30,680 --> 00:31:32,040
Speaker 3: Here he is from the press of today.

611
00:31:32,680 --> 00:31:35,600
Speaker 14: You know we're predicting we are past a turning point.

612
00:31:36,160 --> 00:31:38,200
Speaker 3: This is what he spoke said when you spoke about

613
00:31:38,200 --> 00:31:38,760
Speaker 3: the recovery.

614
00:31:38,880 --> 00:31:41,600
Speaker 14: Generally, once economies turn and you know that people get

615
00:31:41,600 --> 00:31:44,760
Speaker 14: their tail up, you don't see a smooth two and

616
00:31:44,760 --> 00:31:48,160
Speaker 14: a half percent growth rate going forward. You may see

617
00:31:48,240 --> 00:31:51,960
Speaker 14: actually faster growth over the second half of this year

618
00:31:52,000 --> 00:31:54,360
Speaker 14: once confidence is back.

619
00:31:54,480 --> 00:31:58,400
Speaker 3: More medium term things still a bit dicey, thank you Trump.

620
00:31:58,880 --> 00:32:03,040
Speaker 14: The medium term slightly longer term risks related to first

621
00:32:03,080 --> 00:32:05,840
Speaker 14: of all, of course shock risk. We're in the middle

622
00:32:05,840 --> 00:32:11,520
Speaker 14: of this geoeconomic fragmentation. We don't know what may happen

623
00:32:11,560 --> 00:32:13,880
Speaker 14: with regard to tariff, but we know that it is

624
00:32:13,960 --> 00:32:17,880
Speaker 14: going to slow potential global economic gross Interesting.

625
00:32:17,920 --> 00:32:20,160
Speaker 3: I've just had a text coming from Neil. Neil says,

626
00:32:20,520 --> 00:32:22,960
Speaker 3: get a. Ryan have just received notice from Sheer's Ease

627
00:32:23,240 --> 00:32:26,280
Speaker 3: that our savings account rate has dropped from three point

628
00:32:26,360 --> 00:32:28,640
Speaker 3: three five percent to two point eight five percent effective

629
00:32:28,680 --> 00:32:32,560
Speaker 3: from today, letting us know ahead of time, perhaps, says Neil. Yeah,

630
00:32:32,600 --> 00:32:35,360
Speaker 3: I mean it's it is what it is, isn't it.

631
00:32:34,840 --> 00:32:38,720
Speaker 3: It's a double edged sword, and depending on depending on

632
00:32:38,760 --> 00:32:41,520
Speaker 3: where you set to be people celebrating this today anyway,

633
00:32:41,520 --> 00:32:43,520
Speaker 3: we're going to talk about that with Brad Olsen after

634
00:32:43,560 --> 00:32:45,800
Speaker 3: five o'clock. We're also going to talk to Wayne Brown,

635
00:32:46,920 --> 00:32:49,560
Speaker 3: who is seeking reelection. I mean, surprise, surprise, we all

636
00:32:49,600 --> 00:32:52,040
Speaker 3: thought he would but he has confirmed today in a

637
00:32:52,040 --> 00:32:56,120
Speaker 3: press conference he is seeking reelection. Having another crack. We'll

638
00:32:56,160 --> 00:32:58,920
Speaker 3: ask him about Desley as well, the drama with Desley

639
00:32:59,240 --> 00:33:29,000
Speaker 3: that's coming up last Fine where.

640
00:33:32,320 --> 00:33:37,800
Speaker 1: Questions, answers, facts analysis, the drive show you trust for

641
00:33:37,840 --> 00:33:41,400
Speaker 1: the full picture. Brian Bridge on hither duplicy allan drive

642
00:33:41,640 --> 00:33:45,040
Speaker 1: with one New Zealand let's get connected news talks that'd

643
00:33:45,080 --> 00:33:46,160
Speaker 1: be good anything.

644
00:33:46,240 --> 00:33:48,920
Speaker 3: It's seven half to five, the OCI down fifty points

645
00:33:48,960 --> 00:33:52,400
Speaker 3: now three point seventy five. Banks are starting to cut

646
00:33:52,440 --> 00:33:55,600
Speaker 3: their rates mainly though on the floatings. Adrian Or who's

647
00:33:55,640 --> 00:33:58,840
Speaker 3: the governor, made it pretty clear today what you can

648
00:33:58,960 --> 00:34:00,040
Speaker 3: expect and when.

649
00:34:00,440 --> 00:34:03,240
Speaker 14: We are looking at lowering the official cash right a

650
00:34:03,280 --> 00:34:05,840
Speaker 14: little bit quicker than what we projected back in November,

651
00:34:06,560 --> 00:34:10,839
Speaker 14: but that's around fifty basis points by mid this year,

652
00:34:11,000 --> 00:34:14,920
Speaker 14: you know, around July, and in the document that comes

653
00:34:14,960 --> 00:34:19,120
Speaker 14: broadly into twenty five basis point steps. It doesn't stop there.

654
00:34:19,160 --> 00:34:22,960
Speaker 14: We have our projection of the ocr being around three

655
00:34:23,000 --> 00:34:24,160
Speaker 14: percent by year end.

656
00:34:24,320 --> 00:34:28,440
Speaker 3: Brad Olson's informatric Principal economists Brad Good evening, Good evening.

657
00:34:28,680 --> 00:34:32,040
Speaker 3: So we're going cutting basically sooner and deeper.

658
00:34:32,800 --> 00:34:36,160
Speaker 24: Why Well, effectively, the Reserve Bank is a lot more

659
00:34:36,160 --> 00:34:39,319
Speaker 24: confident about where it's heading in certainly where it's been

660
00:34:39,480 --> 00:34:42,799
Speaker 24: on the inflation front. I think, you know, hearing from

661
00:34:42,840 --> 00:34:45,000
Speaker 24: the Governor at his press conference this afternoon, he was

662
00:34:45,000 --> 00:34:48,040
Speaker 24: pretty chipper about things. You know, inflation is at two

663
00:34:48,080 --> 00:34:50,839
Speaker 24: point two percent, it's pretty close to that midpoint, and

664
00:34:50,880 --> 00:34:53,759
Speaker 24: a lot of the expectations that the Reserve Bank had

665
00:34:53,800 --> 00:34:55,960
Speaker 24: for how the economy was going to play out is

666
00:34:56,040 --> 00:34:59,759
Speaker 24: broadly coming true. Those inflationary pressures have come back. The

667
00:35:00,000 --> 00:35:03,160
Speaker 24: economy still in a tough position at the moment, and

668
00:35:03,280 --> 00:35:06,640
Speaker 24: interest rates setting still restrictive, and so the Reserve Bank

669
00:35:06,680 --> 00:35:10,720
Speaker 24: wants to remove those restrictions more over time. Long story short,

670
00:35:10,760 --> 00:35:14,360
Speaker 24: this announcement was broadly or very much as expected, the

671
00:35:14,480 --> 00:35:17,479
Speaker 24: right move to cut, the right sort of forecast now

672
00:35:17,560 --> 00:35:21,560
Speaker 24: with effectively the Reserve Bank pricing in what the markets

673
00:35:21,600 --> 00:35:24,320
Speaker 24: have been thinking as well, and so very much a

674
00:35:24,440 --> 00:35:26,840
Speaker 24: sensible decision coming out from the Reserve Bank today.

675
00:35:26,960 --> 00:35:29,120
Speaker 3: They were also saying today, don't get your hopes up.

676
00:35:29,160 --> 00:35:31,479
Speaker 3: If you're looking for cuts to your longer term rates,

677
00:35:31,520 --> 00:35:34,759
Speaker 3: your two to five year rates, don't be expecting much

678
00:35:34,760 --> 00:35:38,000
Speaker 3: of a change. No, that's right, and even you've just

679
00:35:38,040 --> 00:35:40,240
Speaker 3: noted it around, you know, the focus from the retail

680
00:35:40,239 --> 00:35:42,640
Speaker 3: banks has been at the shorter end, looking at the

681
00:35:42,680 --> 00:35:45,480
Speaker 3: floating rates, and some of those sort of shorter term

682
00:35:45,560 --> 00:35:48,160
Speaker 3: numbers are the longer term rates have actually on a

683
00:35:48,200 --> 00:35:51,239
Speaker 3: global stage, they've been pushing a bit higher because of

684
00:35:51,280 --> 00:35:53,760
Speaker 3: what's coming out of the US and the US economy,

685
00:35:54,160 --> 00:35:56,080
Speaker 3: and so probably not as much of a shift there,

686
00:35:56,160 --> 00:35:58,279
Speaker 3: I think for households as well, though a lot of

687
00:35:58,280 --> 00:36:00,520
Speaker 3: them are sure they might be looking for a few

688
00:36:00,560 --> 00:36:02,440
Speaker 3: more cuts coming through in the system, But for a

689
00:36:02,440 --> 00:36:05,319
Speaker 3: lot of households, they're just looking forward to refixing on

690
00:36:05,320 --> 00:36:07,799
Speaker 3: to what is already a lower interest rate now than

691
00:36:07,840 --> 00:36:10,279
Speaker 3: what they might have been on previously as the year

692
00:36:10,400 --> 00:36:10,959
Speaker 3: rolls through.

693
00:36:11,239 --> 00:36:13,320
Speaker 24: And so there's I think about half of the mortgage

694
00:36:13,320 --> 00:36:16,319
Speaker 24: book that reprices and has to or could refix in

695
00:36:16,360 --> 00:36:18,279
Speaker 24: the next sort of half a year or so, so

696
00:36:18,600 --> 00:36:21,040
Speaker 24: a lot of that activity coming through. I think what

697
00:36:21,080 --> 00:36:23,680
Speaker 24: the reserve banker is signaling is, look, they've had a

698
00:36:23,719 --> 00:36:25,680
Speaker 24: direction that they were moving in. They're a bit more

699
00:36:25,719 --> 00:36:28,360
Speaker 24: confident about doing that a bit quicker. I do worry

700
00:36:28,400 --> 00:36:30,560
Speaker 24: a little bit that maybe they're a little bit too

701
00:36:30,960 --> 00:36:34,560
Speaker 24: optimistic on continuing with that stronger tone. I worry you

702
00:36:34,640 --> 00:36:37,080
Speaker 24: maybe there's a bit more risk on, a bit more

703
00:36:37,120 --> 00:36:39,640
Speaker 24: pressure towards the second half of this year. Not enough

704
00:36:39,640 --> 00:36:41,759
Speaker 24: to deviate from where they are, but just you know,

705
00:36:41,800 --> 00:36:43,960
Speaker 24: maybe a little bit more caution will be warranted. But

706
00:36:44,000 --> 00:36:46,080
Speaker 24: that's for another day. The Reserve bankers said, look, they

707
00:36:46,080 --> 00:36:48,319
Speaker 24: are continuing to cut. That will come through. It might

708
00:36:48,360 --> 00:36:50,800
Speaker 24: not come through as much for each and every household,

709
00:36:51,040 --> 00:36:53,560
Speaker 24: but it's very much there and they've got options going forward.

710
00:36:53,640 --> 00:36:56,120
Speaker 3: Yeah, as they kept saying today that it depends on

711
00:36:56,160 --> 00:36:58,479
Speaker 3: the data, doesn't it. So you can almost change your mind, Brad,

712
00:36:58,520 --> 00:37:00,920
Speaker 3: Thank you for that, Brad Olson informential, It's principal economist

713
00:37:00,960 --> 00:37:04,080
Speaker 3: John News talks here. But it's ten up to five Bridge,

714
00:37:04,200 --> 00:37:07,000
Speaker 3: the world's worst kept secret auklid Mere. Wayne Brown wants

715
00:37:07,040 --> 00:37:09,520
Speaker 3: three more years from you our super city, Thank you

716
00:37:09,600 --> 00:37:11,960
Speaker 3: very much. He's launched his bid for reelection today. He's

717
00:37:12,000 --> 00:37:15,080
Speaker 3: with me, Hi, Wayne, you got that run. You're not

718
00:37:15,120 --> 00:37:15,799
Speaker 3: sick of it yet?

719
00:37:18,840 --> 00:37:20,960
Speaker 8: Well at least this one is an English so the

720
00:37:21,000 --> 00:37:23,480
Speaker 8: last one was in Chinese, which I do speak a

721
00:37:23,480 --> 00:37:25,239
Speaker 8: little bit of. So there you go.

722
00:37:25,400 --> 00:37:30,719
Speaker 3: No, not talking about the interview, I'm talking about the job. Ah.

723
00:37:31,280 --> 00:37:33,399
Speaker 8: Well, it's like the curious you get has good, it's

724
00:37:33,440 --> 00:37:38,480
Speaker 8: good in part. No, I think I'm there you go

725
00:37:38,520 --> 00:37:40,840
Speaker 8: again because I want to. I've made a lot of

726
00:37:40,840 --> 00:37:44,839
Speaker 8: progress and delivered most of what I promised, but I'd

727
00:37:44,880 --> 00:37:46,920
Speaker 8: want to another three years. All that be locked in.

728
00:37:47,520 --> 00:37:50,560
Speaker 8: It won't be unusual to stop wasting money. It'll be

729
00:37:50,600 --> 00:37:53,839
Speaker 8: the way that they properly behave. It won't be unusual

730
00:37:54,280 --> 00:37:56,680
Speaker 8: for at to listen to the public and stop doing

731
00:37:56,760 --> 00:38:00,440
Speaker 8: dumb stuff. You know, it'll be rocked in that we

732
00:38:00,560 --> 00:38:04,040
Speaker 8: expect to deliver the last rate rises in the country,

733
00:38:04,120 --> 00:38:07,279
Speaker 8: expect to do deliver value for everything. Those things are

734
00:38:07,320 --> 00:38:10,040
Speaker 8: still novel and they could be relessed. I want those

735
00:38:10,120 --> 00:38:14,600
Speaker 8: to be the normal ongoing behavior we will behave. Like

736
00:38:15,040 --> 00:38:17,160
Speaker 8: we're looking after the money as it was ours. There's

737
00:38:17,200 --> 00:38:19,040
Speaker 8: something or other I've been wigging. I'm trying to get

738
00:38:19,040 --> 00:38:22,080
Speaker 8: the staff to spend the ways if it was their,

739
00:38:22,600 --> 00:38:24,040
Speaker 8: not just it's somebody else's.

740
00:38:24,160 --> 00:38:27,000
Speaker 3: Jeez, you're on message. This evening, Mayne, it's good to

741
00:38:27,040 --> 00:38:30,360
Speaker 3: have you. I've been watching your videos on social media

742
00:38:30,560 --> 00:38:32,399
Speaker 3: and you've been down in the city looking at the

743
00:38:32,480 --> 00:38:35,359
Speaker 3: you know, the cone town that the cone apocalypse has

744
00:38:35,400 --> 00:38:39,520
Speaker 3: taken over. How frustrating is it that you're the mayor

745
00:38:39,560 --> 00:38:42,640
Speaker 3: of Auckland and you've got basically no say and all

746
00:38:42,640 --> 00:38:43,480
Speaker 3: of the stuff happening.

747
00:38:45,520 --> 00:38:47,759
Speaker 8: Well, at the end of last year, I got a

748
00:38:49,040 --> 00:38:52,680
Speaker 8: unanimous support from the council, which is pretty hard. Yet

749
00:38:52,680 --> 00:38:56,320
Speaker 8: I've got to tell you to change take back control

750
00:38:56,400 --> 00:38:59,080
Speaker 8: of CCOs, which was one of my five policies that

751
00:38:59,120 --> 00:39:02,080
Speaker 8: took in the one longest to get underway with the

752
00:39:02,200 --> 00:39:06,040
Speaker 8: at It does require that government to change some legislation

753
00:39:06,800 --> 00:39:09,000
Speaker 8: and I've agreed to do that. There's about three pieces

754
00:39:09,000 --> 00:39:11,880
Speaker 8: of legislation that need them to change, and the frustrating

755
00:39:11,920 --> 00:39:14,080
Speaker 8: part of the government doesn't move as quickly as I do.

756
00:39:15,000 --> 00:39:16,960
Speaker 8: But they're going to have to speed up. I mean,

757
00:39:17,440 --> 00:39:20,720
Speaker 8: the visa changes have to be that requires a change.

758
00:39:20,960 --> 00:39:24,000
Speaker 8: The midnight levy requires a bit of legislation. But none

759
00:39:24,040 --> 00:39:25,960
Speaker 8: of the legislation of the master in the government do cost

760
00:39:26,000 --> 00:39:27,759
Speaker 8: them any money, so I can't say I have got

761
00:39:27,760 --> 00:39:31,000
Speaker 8: no money. Just get on with the job and a

762
00:39:31,040 --> 00:39:33,440
Speaker 8: strong mayor is in a better position to do that.

763
00:39:33,480 --> 00:39:35,680
Speaker 8: So I need to come back with a big, strong result.

764
00:39:36,360 --> 00:39:38,480
Speaker 3: What about Desley? What's happening with Desley?

765
00:39:39,360 --> 00:39:42,600
Speaker 8: Well, she's my deputy miror and she's she will continue

766
00:39:42,600 --> 00:39:44,520
Speaker 8: to be part of the team until she decides not

767
00:39:44,560 --> 00:39:45,799
Speaker 8: to be part of the team. And I think she's

768
00:39:46,520 --> 00:39:49,359
Speaker 8: she's still continuing as part of the team and that's good.

769
00:39:49,520 --> 00:39:51,920
Speaker 3: Oh, that's good. So she'll continue on and then you'd

770
00:39:51,960 --> 00:39:55,000
Speaker 3: be happy to have her back next time as a deputy.

771
00:39:55,640 --> 00:39:58,120
Speaker 8: Well, the next time, you don't do that until you

772
00:39:58,120 --> 00:40:00,319
Speaker 8: see who it gets in. Some people retired, some new

773
00:40:00,360 --> 00:40:03,439
Speaker 8: people will come. I didn't make a decision until well

774
00:40:03,480 --> 00:40:05,200
Speaker 8: after I won the last election. I had to meet

775
00:40:05,239 --> 00:40:06,520
Speaker 8: them all in Pine at what they want to do

776
00:40:06,560 --> 00:40:08,040
Speaker 8: and who's happy to do what I want to do.

777
00:40:08,400 --> 00:40:10,600
Speaker 3: So, but you'll definitely stay on to the end of

778
00:40:10,600 --> 00:40:11,640
Speaker 3: this term as your deputy.

779
00:40:12,680 --> 00:40:16,279
Speaker 8: Well is what she said. You say she's happy to

780
00:40:16,280 --> 00:40:19,319
Speaker 8: work on with me, and then there'll be where it

781
00:40:19,320 --> 00:40:20,080
Speaker 8: sits at the moment.

782
00:40:20,280 --> 00:40:22,200
Speaker 3: Oh that's good. And she's not running against you.

783
00:40:24,120 --> 00:40:25,840
Speaker 8: This stage, not that I know. I mean, if she

784
00:40:25,840 --> 00:40:29,360
Speaker 8: did do that, that might require a reconsideration. But he

785
00:40:29,440 --> 00:40:31,239
Speaker 8: stays here, we're working as a team and that's what

786
00:40:31,280 --> 00:40:32,240
Speaker 8: I expected to happen.

787
00:40:32,280 --> 00:40:34,160
Speaker 3: All right, Wayne, thanks very much for coming on tonight.

788
00:40:34,160 --> 00:40:35,880
Speaker 3: Wayne Brown, who wants to be the mayor of Auckland

789
00:40:35,920 --> 00:40:37,680
Speaker 3: one more time and it sounds like Desley. If you

790
00:40:37,760 --> 00:40:39,880
Speaker 3: try and go for that, you might just lose your

791
00:40:39,880 --> 00:40:44,920
Speaker 3: deputy job before the elections. Thirteen after five sixteen after

792
00:40:45,000 --> 00:40:48,640
Speaker 3: five new data on road safety programs. Road fatalities are

793
00:40:48,680 --> 00:40:50,960
Speaker 3: at a historic twenty five year low, which is the

794
00:40:50,960 --> 00:40:53,840
Speaker 3: good news. Since the year two thousand, they're down thirty

795
00:40:53,920 --> 00:40:56,520
Speaker 3: six percent the number of deaths on our roads. Now

796
00:40:56,560 --> 00:41:01,000
Speaker 3: the number of youth road fatalities down by fifty five percent.

797
00:41:01,200 --> 00:41:03,600
Speaker 3: That's even better news. But for the first time it

798
00:41:03,680 --> 00:41:07,279
Speaker 3: is older New Zealanders who have the highest fatality rate

799
00:41:07,560 --> 00:41:11,880
Speaker 3: on our roads. Maria Lovelock is the general manager for

800
00:41:12,000 --> 00:41:15,400
Speaker 3: New Zealand at Road Safety Education. She's with us him.

801
00:41:15,440 --> 00:41:17,840
Speaker 25: Maria, Yeah, Hi, Ryan.

802
00:41:17,960 --> 00:41:19,480
Speaker 3: What age are we talking here?

803
00:41:20,760 --> 00:41:24,160
Speaker 26: So with what we're talking talking about the older age group,

804
00:41:24,360 --> 00:41:26,360
Speaker 26: So that's sort of yeah, So that was sort of

805
00:41:26,400 --> 00:41:28,640
Speaker 26: looking at it some combines that's across Australia and New

806
00:41:28,719 --> 00:41:31,560
Speaker 26: Zealand and so that was a very targeted at eighty

807
00:41:31,600 --> 00:41:35,040
Speaker 26: five percent. We noticed there was a real trend where

808
00:41:35,480 --> 00:41:38,800
Speaker 26: with the licensed drivers in that age group, and obviously

809
00:41:40,120 --> 00:41:41,640
Speaker 26: as you get older you have to go through a

810
00:41:41,640 --> 00:41:44,680
Speaker 26: lot more testing from seventy five, but the ones that

811
00:41:44,719 --> 00:41:47,520
Speaker 26: still have their license, they definitely there was a spike

812
00:41:47,640 --> 00:41:50,080
Speaker 26: there that we found quite interesting. You know, according to

813
00:41:50,120 --> 00:41:53,719
Speaker 26: the population drivers, so they might it's not so obviously

814
00:41:53,719 --> 00:41:57,360
Speaker 26: you look at the overalls road staffs, so seventy you know,

815
00:41:57,400 --> 00:42:02,520
Speaker 26: when you're looking at the New Zealand of sort of

816
00:42:02,560 --> 00:42:05,480
Speaker 26: older drivers, which you know they count perhaps say ten

817
00:42:05,520 --> 00:42:08,080
Speaker 26: percent of the total from seventy six to one hundred,

818
00:42:08,080 --> 00:42:10,479
Speaker 26: but then you sort of beg into by license older

819
00:42:10,560 --> 00:42:13,600
Speaker 26: and that it's a really spiked.

820
00:42:13,280 --> 00:42:15,160
Speaker 3: Right do you know why? I mean, is it is

821
00:42:15,160 --> 00:42:17,280
Speaker 3: it that you've got a lot of older people behind

822
00:42:17,280 --> 00:42:20,320
Speaker 3: the world maybe having a medical event and crashing because

823
00:42:20,360 --> 00:42:22,880
Speaker 3: of that, or is it that they're having accidents for

824
00:42:22,920 --> 00:42:23,520
Speaker 3: other reasons.

825
00:42:24,440 --> 00:42:27,319
Speaker 26: It's probably a range of all those regions, So I mean,

826
00:42:27,480 --> 00:42:30,040
Speaker 26: this is why you get that sort of testing. And

827
00:42:30,080 --> 00:42:32,439
Speaker 26: at the older age group. You know, some seventy five,

828
00:42:32,520 --> 00:42:36,280
Speaker 26: you know, your cognitions, things start happening in your eyesight,

829
00:42:37,000 --> 00:42:40,400
Speaker 26: gets poorer, your reactions times aren't necessarily as quick as

830
00:42:40,400 --> 00:42:43,480
Speaker 26: when you're younger. But also your ability to survive a

831
00:42:43,560 --> 00:42:47,359
Speaker 26: crash is not as great either, so your your body isn't,

832
00:42:47,400 --> 00:42:50,560
Speaker 26: as you know, able to bounce back so to speak,

833
00:42:50,680 --> 00:42:52,400
Speaker 26: when you're when you're in a crash. So you know

834
00:42:52,440 --> 00:42:53,799
Speaker 26: that's why they sort of coming through.

835
00:42:54,040 --> 00:42:56,120
Speaker 3: Do we do anything you mentioned that you've been comparing

836
00:42:56,160 --> 00:42:58,520
Speaker 3: with Australia, Do we do anything differently to them when

837
00:42:58,520 --> 00:43:01,759
Speaker 3: it comes to older drivers.

838
00:43:01,000 --> 00:43:03,640
Speaker 26: To older drivers. I was just talking to my colleague

839
00:43:03,640 --> 00:43:05,560
Speaker 26: and Australia about this. Actually we caught the interview and

840
00:43:05,640 --> 00:43:07,560
Speaker 26: it seems very similar. It's the same sort of thing

841
00:43:07,560 --> 00:43:10,319
Speaker 26: where you do in cognition tests and maybe going on

842
00:43:10,480 --> 00:43:15,320
Speaker 26: and doing a driver since we've driver training. So so

843
00:43:15,480 --> 00:43:17,680
Speaker 26: in New Zealand you go and get your medical but

844
00:43:17,719 --> 00:43:22,480
Speaker 26: then you'll benefit. The doctor thinks, oh, maybe you'll have

845
00:43:22,560 --> 00:43:24,279
Speaker 26: to go and do it and basit your refit you

846
00:43:24,640 --> 00:43:28,240
Speaker 26: driver license and test again and so and that happens

847
00:43:28,280 --> 00:43:31,920
Speaker 26: sort of every two years from once you tune eighty,

848
00:43:32,000 --> 00:43:33,440
Speaker 26: not that you have to set your test again, but

849
00:43:33,480 --> 00:43:36,439
Speaker 26: you have to go and get checked. And I think

850
00:43:36,440 --> 00:43:39,160
Speaker 26: it's similar. I haven't dig dug straight into exactly what

851
00:43:39,200 --> 00:43:41,520
Speaker 26: they do. But it is similar and it's a similar

852
00:43:41,560 --> 00:43:43,320
Speaker 26: trend that we're seeing across both country.

853
00:43:43,480 --> 00:43:45,600
Speaker 3: Interesting. Maria, thank you very much for that. Great to

854
00:43:45,640 --> 00:43:47,640
Speaker 3: have you on the show. Maria Lovelock, general manager and

855
00:43:47,800 --> 00:43:52,360
Speaker 3: z at Road Safety Education Brian bred It's gone nineteen

856
00:43:52,400 --> 00:43:55,239
Speaker 3: minutes after five. So Trump, we told you about this

857
00:43:55,280 --> 00:43:58,680
Speaker 3: the other week. Trump is ditching the paper straws and

858
00:43:58,719 --> 00:44:03,160
Speaker 3: the cardboard straws and saying bring back plastic. We've got

859
00:44:03,160 --> 00:44:06,320
Speaker 3: countries pulling out of the Paris Accord, left, right and center.

860
00:44:06,360 --> 00:44:08,319
Speaker 3: You've got in this country, you've got Winston and you've

861
00:44:08,360 --> 00:44:10,800
Speaker 3: got Seymour saying that we should do the same, basically

862
00:44:10,920 --> 00:44:13,000
Speaker 3: pull out of it, although they're both now talking about

863
00:44:13,040 --> 00:44:16,520
Speaker 3: different time frames for doing that. Now you might have

864
00:44:16,560 --> 00:44:18,840
Speaker 3: seen this in the news today. We've got KeyWe companies

865
00:44:18,880 --> 00:44:23,840
Speaker 3: pulling out of climate change schemes and initiatives. This is

866
00:44:23,920 --> 00:44:27,040
Speaker 3: New Zealand businesses, some quite big ones too, I might

867
00:44:27,080 --> 00:44:31,200
Speaker 3: add leaving, you have to say, leaving in a much

868
00:44:31,239 --> 00:44:34,000
Speaker 3: more quiet fashion, a much more quieter affair than when

869
00:44:34,040 --> 00:44:38,319
Speaker 3: they entered into these climate change in green initiatives. They're

870
00:44:38,320 --> 00:44:41,239
Speaker 3: almost doing an Irish goodbye. You know, they're ghosting them

871
00:44:41,320 --> 00:44:43,520
Speaker 3: so that nobody knows because it sounds good when you

872
00:44:43,600 --> 00:44:46,239
Speaker 3: join one and everyone goes, oh, plan, that's fantastic, but

873
00:44:46,400 --> 00:44:50,640
Speaker 3: leaving sh don't say anything anyway. So who is doing this?

874
00:44:50,640 --> 00:44:54,000
Speaker 3: This is the Science Based Targets Initiative, which does exactly

875
00:44:54,080 --> 00:44:57,040
Speaker 3: what it sounds like it does. We're talking here about

876
00:44:57,080 --> 00:44:59,600
Speaker 3: silver Fern Farms, although they are saying they're leaving because

877
00:44:59,600 --> 00:45:02,640
Speaker 3: ofroblems with measuring their emissions a whole bunch of other reasons.

878
00:45:02,880 --> 00:45:05,399
Speaker 3: But the other one that's interesting is Auckland Airport. Now

879
00:45:05,440 --> 00:45:10,600
Speaker 3: Auckland Airport is leaving this because they say ninety percent

880
00:45:10,640 --> 00:45:14,120
Speaker 3: of their emissions are surprise, surprise being an airport from

881
00:45:14,200 --> 00:45:17,279
Speaker 3: the planes that are sitting on their tarmac right and

882
00:45:17,440 --> 00:45:20,480
Speaker 3: they don't have responsibility for the emissions from those planes.

883
00:45:20,480 --> 00:45:23,520
Speaker 3: That's up to the airlines. And they say basically, until

884
00:45:23,520 --> 00:45:27,239
Speaker 3: the airlines can solve the problem of emissions out the

885
00:45:27,280 --> 00:45:29,719
Speaker 3: back of a plane from the jet fuel, then there's

886
00:45:29,760 --> 00:45:31,680
Speaker 3: not much they can do. Hands are tired, So the

887
00:45:31,760 --> 00:45:33,640
Speaker 3: question is, why did you sign a stupid thing in

888
00:45:33,640 --> 00:45:38,080
Speaker 3: the first place. Twenty one after five newstalksb.

889
00:45:38,560 --> 00:45:40,920
Speaker 1: On the iHeart app and in your car on your

890
00:45:41,000 --> 00:45:44,880
Speaker 1: drive home, it's Ryan Bridge on Heather duplicy allan drive

891
00:45:45,200 --> 00:45:46,480
Speaker 1: with one New Zealand.

892
00:45:46,800 --> 00:45:48,960
Speaker 2: Let's get connected. News talks'd be.

893
00:45:49,280 --> 00:45:54,200
Speaker 3: Five twenty four. Winston Peters continues to call out Riccardo

894
00:45:54,280 --> 00:45:56,480
Speaker 3: men Ende's march in the House, and there are many

895
00:45:56,520 --> 00:45:59,400
Speaker 3: good reasons to call out Riccardo Menenda's march in the House,

896
00:45:59,520 --> 00:46:02,719
Speaker 3: don't get me wrong, but continues to call him out

897
00:46:03,400 --> 00:46:05,879
Speaker 3: using the fact that he was born in Mexico as

898
00:46:05,920 --> 00:46:08,759
Speaker 3: the basis to make an attack. And it's starting to

899
00:46:08,760 --> 00:46:11,960
Speaker 3: get on my nerves a little bit. So Winston Peters

900
00:46:12,360 --> 00:46:16,160
Speaker 3: asked why an immigrant like Ricardo Menindi's mart was allowed

901
00:46:16,200 --> 00:46:19,839
Speaker 3: to call New Zealand altered in the House. Menindis march

902
00:46:19,920 --> 00:46:22,399
Speaker 3: said the Prime Minister should get involved in all of.

903
00:46:22,360 --> 00:46:26,080
Speaker 21: This again, what we have this language and behavior that

904
00:46:26,200 --> 00:46:28,279
Speaker 21: can translates to home outside.

905
00:46:27,960 --> 00:46:31,680
Speaker 3: Of his four doors. Winston Peters he reckons his comments

906
00:46:31,680 --> 00:46:32,520
Speaker 3: were totally okay.

907
00:46:32,719 --> 00:46:35,799
Speaker 18: He applied to a country whose ours is just called

908
00:46:35,840 --> 00:46:38,279
Speaker 18: New Zealand, and in this parliament has just changed the

909
00:46:38,320 --> 00:46:41,680
Speaker 18: company's name without the mandate the authority of referend zial people.

910
00:46:42,080 --> 00:46:45,920
Speaker 3: I think we can have this debate, a civil debate

911
00:46:45,960 --> 00:46:48,600
Speaker 3: about whether Alta should be the name of New Zealand,

912
00:46:48,680 --> 00:46:50,480
Speaker 3: or shouldn't be the name of New Zealand, or should

913
00:46:50,520 --> 00:46:54,720
Speaker 3: be used in Parliament to refer to New Zealand without

914
00:46:55,360 --> 00:46:58,160
Speaker 3: going down the track and saying, hey, you're from Mexico.

915
00:46:59,080 --> 00:46:59,920
Speaker 3: You just got here.

916
00:47:00,080 --> 00:47:00,279
Speaker 27: Yeah.

917
00:47:00,960 --> 00:47:02,800
Speaker 3: I think it's a bit of a race to the bottom.

918
00:47:03,160 --> 00:47:06,480
Speaker 3: I think we can have a civilized debate without needing

919
00:47:06,520 --> 00:47:09,439
Speaker 3: to point out where everybody was born. I mean, isn't

920
00:47:09,480 --> 00:47:11,399
Speaker 3: that part of the problem in the first place. Isn't

921
00:47:11,400 --> 00:47:14,360
Speaker 3: that part of the problem that Winston is trying to address,

922
00:47:14,400 --> 00:47:18,000
Speaker 3: this obsession with who your fucker papa is or who

923
00:47:18,120 --> 00:47:21,400
Speaker 3: you know, who you were born to in New Zealand,

924
00:47:21,400 --> 00:47:23,399
Speaker 3: whether you were born overseas or whether you were born here,

925
00:47:23,560 --> 00:47:26,560
Speaker 3: who your parents were, who your grandparents were. His point

926
00:47:26,719 --> 00:47:31,120
Speaker 3: is actually who cares right, So by constantly pointing out

927
00:47:31,239 --> 00:47:35,120
Speaker 3: where Riccardo Menendi's march was born, he's undermining his own

928
00:47:35,200 --> 00:47:37,359
Speaker 3: argument just a little bit, don't you think twenty six

929
00:47:37,400 --> 00:47:41,240
Speaker 3: after five Ray and Bridge, great story about rocket Lab today?

930
00:47:41,280 --> 00:47:43,479
Speaker 3: Did you read this? A rocket Lab ready to serve

931
00:47:43,480 --> 00:47:46,959
Speaker 3: the Pentagon? Nothing really new because we know that they've

932
00:47:46,960 --> 00:47:49,040
Speaker 3: got a contract with the Pentagon and that's been in

933
00:47:49,040 --> 00:47:51,160
Speaker 3: place for about a year. But what they're going to

934
00:47:51,239 --> 00:47:55,600
Speaker 3: do now from Mahia is launch rockets that one of satellites.

935
00:47:55,640 --> 00:47:59,160
Speaker 3: I should say that one day might be used for

936
00:47:59,480 --> 00:48:02,879
Speaker 3: military capabilities. The payload could have you know, it could

937
00:48:02,880 --> 00:48:06,279
Speaker 3: be used for spying, could be used for observing military operations,

938
00:48:06,280 --> 00:48:09,279
Speaker 3: et cetera. And the contention is, and there's lots of

939
00:48:09,280 --> 00:48:12,680
Speaker 3: people who've protested about this, we don't want that, we

940
00:48:12,760 --> 00:48:17,160
Speaker 3: don't like that, and I just think, so what you know.

941
00:48:17,400 --> 00:48:20,200
Speaker 3: I mean, obviously it's not a great thing that wars happen,

942
00:48:20,320 --> 00:48:22,640
Speaker 3: but the fact is they do happen. And the fact

943
00:48:22,680 --> 00:48:26,160
Speaker 3: is that this type of equipment will be sent to space,

944
00:48:26,160 --> 00:48:28,120
Speaker 3: whether we deal or someone else does it. Surely we

945
00:48:28,120 --> 00:48:32,680
Speaker 3: should make the money. Nine two the numbers text twenty

946
00:48:32,760 --> 00:48:36,239
Speaker 3: seven minutes after five. Lots of people saying, Ryan, what

947
00:48:36,280 --> 00:48:37,640
Speaker 3: the hell is an Irish goodbye?

948
00:48:37,920 --> 00:48:38,120
Speaker 25: Hat?

949
00:48:38,160 --> 00:48:41,879
Speaker 3: Says, I'm irish is when you just suddenly disappear from

950
00:48:41,920 --> 00:48:46,040
Speaker 3: the party because you're a bit drunk. I'm irish too, Pat,

951
00:48:46,080 --> 00:48:49,920
Speaker 3: So come be upset with the drunk thing. Mark Robinson

952
00:48:50,160 --> 00:48:54,040
Speaker 3: from New Zealand Rugby on Enios on the sky TV

953
00:48:54,120 --> 00:49:00,760
Speaker 3: deal and the game in Chicago. That's next, just.

954
00:49:04,360 --> 00:49:06,760
Speaker 2: Getting the facts, discarding the fluff.

955
00:49:07,040 --> 00:49:10,839
Speaker 1: It's Ryan Bridge on hither Duplice Ellen Drive with one

956
00:49:10,920 --> 00:49:13,760
Speaker 1: New Zealand, Let's get connected news talks.

957
00:49:13,960 --> 00:49:16,520
Speaker 28: Be In Flowers.

958
00:49:19,600 --> 00:49:23,839
Speaker 12: Said, jumping myself.

959
00:49:23,800 --> 00:49:27,680
Speaker 3: Hour good even twenty five away from six year on

960
00:49:27,760 --> 00:49:31,120
Speaker 3: news Talks. There b This is a text from one

961
00:49:31,160 --> 00:49:33,439
Speaker 3: of our listeners, Ryan on Wayne Brown. We had Wayne

962
00:49:33,440 --> 00:49:36,560
Speaker 3: Brown on the show earlier. He's gonna run for here again. Surprise, surprise.

963
00:49:37,719 --> 00:49:41,480
Speaker 3: What's actually changed AT is still clogging up the roads

964
00:49:41,480 --> 00:49:43,680
Speaker 3: with cones. It doesn't matter where you live in New Zealand,

965
00:49:43,680 --> 00:49:46,680
Speaker 3: you will know the story. It's a familiar one, clogging

966
00:49:46,760 --> 00:49:50,760
Speaker 3: up the roads with cones and long term pointless cycle lanes.

967
00:49:50,760 --> 00:49:52,719
Speaker 3: He's talked a good game, but I haven't seen any

968
00:49:52,800 --> 00:49:55,560
Speaker 3: change AT is killing businesses one so about a time

969
00:49:55,920 --> 00:49:58,360
Speaker 3: I completely agree with you. Do you know what's actually

970
00:49:58,440 --> 00:50:00,960
Speaker 3: quite bad about what Wayne didn't? I didn't have a

971
00:50:01,080 --> 00:50:03,480
Speaker 3: chance to ask him about it. But and because it's

972
00:50:03,520 --> 00:50:06,200
Speaker 3: also a bit of a personal gripe, because I'm stuck

973
00:50:06,239 --> 00:50:08,640
Speaker 3: in traffic every day with these building, these bloody cycle

974
00:50:08,719 --> 00:50:12,120
Speaker 3: lanes that no one's in, which frustrates, you know end.

975
00:50:12,719 --> 00:50:16,319
Speaker 3: But he's hand in control. This is the dearly done

976
00:50:16,360 --> 00:50:19,160
Speaker 3: with the government. Will hand control for cycle lanes, for

977
00:50:19,360 --> 00:50:24,000
Speaker 3: speed limits, for raised pedestrian crossings, and for changes to parking.

978
00:50:24,280 --> 00:50:27,640
Speaker 3: In other words, everything that makes you enraged in the world,

979
00:50:28,160 --> 00:50:31,440
Speaker 3: he's hand in control of that. From Auckland Transport to

980
00:50:31,560 --> 00:50:34,680
Speaker 3: local boards. Have you ever seen the people that sit

981
00:50:34,719 --> 00:50:38,719
Speaker 3: on local boards. They are insane, They look insane, they

982
00:50:38,760 --> 00:50:42,120
Speaker 3: sound insane, they are insane. It is an insane asylum

983
00:50:42,239 --> 00:50:44,320
Speaker 3: at a local board meeting. So I just think the

984
00:50:44,360 --> 00:50:47,400
Speaker 3: whole plot. In fact, if I would prefer, I think

985
00:50:47,719 --> 00:50:51,200
Speaker 3: I would actually prefer Auckland Transport to be in charge

986
00:50:51,200 --> 00:50:53,560
Speaker 3: of cycle lanes than the local board.

987
00:50:55,920 --> 00:50:57,239
Speaker 2: Ryan Bridge, The.

988
00:50:57,239 --> 00:50:59,920
Speaker 3: All Blacks are looking to avenge one of their historic defeat.

989
00:51:00,160 --> 00:51:02,279
Speaker 3: The team will be playing a Test against Ireland at

990
00:51:02,320 --> 00:51:05,520
Speaker 3: Soldier Field in Chicago in November. You may recall at

991
00:51:05,560 --> 00:51:08,080
Speaker 3: the last time the All Blacks played Island at Solderfield

992
00:51:08,080 --> 00:51:10,759
Speaker 3: in twenty sixteen, things didn't go too well for US.

993
00:51:11,280 --> 00:51:12,560
Speaker 3: Ireland has been to the.

994
00:51:12,640 --> 00:51:17,040
Speaker 29: All Blacks the culmination of a historic week at Chicago,

995
00:51:17,600 --> 00:51:20,319
Speaker 29: Ireland forty New Zealand twenty nine.

996
00:51:20,960 --> 00:51:23,000
Speaker 3: That was, of course the first time that Ireland ever

997
00:51:23,040 --> 00:51:25,200
Speaker 3: won a Test match against New Zealand, but they've gone

998
00:51:25,239 --> 00:51:28,160
Speaker 3: on to beat US four more times since then. Not

999
00:51:28,200 --> 00:51:31,520
Speaker 3: that we need reminding. Mark Robinson is in New Zealand.

1000
00:51:31,560 --> 00:51:33,600
Speaker 3: Rugby Chief Executive, Hi, Mark, how.

1001
00:51:33,520 --> 00:51:34,800
Speaker 9: Are you good?

1002
00:51:35,000 --> 00:51:35,160
Speaker 8: Good?

1003
00:51:35,200 --> 00:51:35,640
Speaker 9: Thanks Mammy?

1004
00:51:35,680 --> 00:51:35,920
Speaker 4: How are you?

1005
00:51:36,040 --> 00:51:37,800
Speaker 3: Yeah good? Thank you? Why Chicago.

1006
00:51:40,120 --> 00:51:41,120
Speaker 16: Look what, there's a lot of.

1007
00:51:42,560 --> 00:51:46,360
Speaker 9: Opportunities around the United States in general at the moment.

1008
00:51:46,400 --> 00:51:49,479
Speaker 9: We've talked a lot in recent times about the fact

1009
00:51:49,480 --> 00:51:51,880
Speaker 9: that the Rugby World Cups in twenty thirty one and

1010
00:51:51,880 --> 00:51:55,520
Speaker 9: twenty thirty three provide a real opportunity to build a

1011
00:51:55,840 --> 00:51:59,520
Speaker 9: long term plan in the US, and I think in

1012
00:51:59,520 --> 00:52:03,520
Speaker 9: this case, opposition in Ireland provides a very opportunity to

1013
00:52:03,600 --> 00:52:08,440
Speaker 9: draw on some history, the recent rivalry, and also providable

1014
00:52:08,440 --> 00:52:12,360
Speaker 9: the testing going into into the United States, into a

1015
00:52:12,360 --> 00:52:14,840
Speaker 9: different environment than we did last year with San Diego,

1016
00:52:14,840 --> 00:52:17,279
Speaker 9: which is obviously on the other coast. So look, we're

1017
00:52:17,320 --> 00:52:19,760
Speaker 9: really excited. We're going to build a huge week around

1018
00:52:21,160 --> 00:52:24,440
Speaker 9: the match. You know, lots of different sectors and industries

1019
00:52:24,640 --> 00:52:26,800
Speaker 9: and fans from different parts of the world engauging already,

1020
00:52:26,840 --> 00:52:27,920
Speaker 9: so we're looking forward to it.

1021
00:52:27,960 --> 00:52:29,800
Speaker 3: You need to get Trump involved, like they did a

1022
00:52:29,880 --> 00:52:31,440
Speaker 3: Daytona that was a master stroke.

1023
00:52:32,280 --> 00:52:32,520
Speaker 16: Yeah.

1024
00:52:32,600 --> 00:52:35,759
Speaker 30: I mean we're obviously influencers are becoming a big part

1025
00:52:35,760 --> 00:52:37,719
Speaker 30: of sport, you know, in different leagues and teams and

1026
00:52:37,719 --> 00:52:40,799
Speaker 30: athletes around the world. So I don't know whatever to

1027
00:52:40,800 --> 00:52:43,239
Speaker 30: think about that, but certainly last year we had Jason

1028
00:52:43,280 --> 00:52:44,239
Speaker 30: Maamara on board with.

1029
00:52:44,400 --> 00:52:47,920
Speaker 9: Different ideas coming into this game. So, yeah, what's up.

1030
00:52:48,480 --> 00:52:50,040
Speaker 3: While we've got you? Are you do you reckon? You

1031
00:52:50,040 --> 00:52:51,359
Speaker 3: can get any money out of any of us?

1032
00:52:53,080 --> 00:52:56,120
Speaker 9: Hey, we're going to add at the moment, you know we're.

1033
00:52:56,400 --> 00:52:58,319
Speaker 3: Are you're still talking to each other.

1034
00:52:59,560 --> 00:53:02,719
Speaker 9: Yeah, we're going to some stage, you know, look to

1035
00:53:03,840 --> 00:53:05,960
Speaker 9: begin steps to work through it and all the rest

1036
00:53:05,960 --> 00:53:09,920
Speaker 9: of it. So it's obviously a shame to get to

1037
00:53:09,960 --> 00:53:14,800
Speaker 9: the stage. But look, we'll be very constructive and respectful

1038
00:53:14,800 --> 00:53:15,280
Speaker 9: in the process.

1039
00:53:15,280 --> 00:53:18,040
Speaker 3: Would you try and settle, ideally settle out of court?

1040
00:53:18,080 --> 00:53:19,120
Speaker 3: I mean, you don't want to have to go to

1041
00:53:19,160 --> 00:53:19,760
Speaker 3: court there.

1042
00:53:20,719 --> 00:53:26,200
Speaker 9: Well, look, we'll just see how the ongoing interaction he received,

1043
00:53:26,840 --> 00:53:27,760
Speaker 9: you know, is he open?

1044
00:53:29,280 --> 00:53:29,480
Speaker 25: Oh?

1045
00:53:29,760 --> 00:53:34,040
Speaker 9: I think both organizations, like I say, are in contact

1046
00:53:34,080 --> 00:53:35,560
Speaker 9: and we'll just carry on working front.

1047
00:53:35,800 --> 00:53:37,320
Speaker 3: Have you found a new sponsor yet?

1048
00:53:39,120 --> 00:53:41,640
Speaker 9: Look, these things don't happen overnight that we're really fortunate,

1049
00:53:42,120 --> 00:53:46,720
Speaker 9: you know, obviously in regular contact constantly with our listing

1050
00:53:46,800 --> 00:53:51,920
Speaker 9: partners and prospects, and so certainly, you know, the feedback

1051
00:53:51,960 --> 00:53:56,160
Speaker 9: we've had from all our existing partners around and domestically

1052
00:53:56,200 --> 00:54:00,920
Speaker 9: is hugely supportive around the value and the sort of

1053
00:54:01,960 --> 00:54:05,120
Speaker 9: behaviors we bring to these these partnerships.

1054
00:54:05,200 --> 00:54:09,000
Speaker 3: So one of them might step up potentially, Well, you know,

1055
00:54:09,040 --> 00:54:10,279
Speaker 3: we just to keep talking to people.

1056
00:54:10,560 --> 00:54:15,839
Speaker 9: Certainly there's new these new prospects. As I say, I'm

1057
00:54:15,840 --> 00:54:18,040
Speaker 9: taking off to London tomorrow night for anti meetings of

1058
00:54:18,080 --> 00:54:20,120
Speaker 9: which you know a couple of those meetings are going

1059
00:54:20,160 --> 00:54:23,360
Speaker 9: to be with potential partners and some existing ones and

1060
00:54:23,360 --> 00:54:25,640
Speaker 9: and our team, you know, and all the work they

1061
00:54:25,680 --> 00:54:28,560
Speaker 9: do in different territories. The fact we've played in Japan

1062
00:54:28,600 --> 00:54:31,840
Speaker 9: and stuts, the UK and Europe so much in recent

1063
00:54:31,880 --> 00:54:34,560
Speaker 9: times means you know, there's lots of dialogue with different

1064
00:54:34,600 --> 00:54:35,319
Speaker 9: parties in.

1065
00:54:35,400 --> 00:54:37,120
Speaker 3: The sky ideal. Are you guys going to take a

1066
00:54:37,120 --> 00:54:38,480
Speaker 3: big hit on that? I mean, are you guys going

1067
00:54:38,520 --> 00:54:40,040
Speaker 3: to have cash flow problems at all?

1068
00:54:41,440 --> 00:54:46,320
Speaker 9: Look, we're really solid in terms of the financial position

1069
00:54:46,360 --> 00:54:49,000
Speaker 9: we are, and you know there's always different speculation around

1070
00:54:49,040 --> 00:54:51,359
Speaker 9: these things, Ryan, But if you look across the world

1071
00:54:51,400 --> 00:54:54,160
Speaker 9: and rugby and also a majority of sporting organizations, we're

1072
00:54:54,160 --> 00:54:57,680
Speaker 9: in a really, you know, relatively strong space and we've

1073
00:54:57,680 --> 00:55:01,560
Speaker 9: got good partnerships with a lot of revenue. You know

1074
00:55:01,640 --> 00:55:06,040
Speaker 9: that that's locked down for a period and you know.

1075
00:55:06,600 --> 00:55:08,560
Speaker 3: I know you say that, but yeah, I mean you haven't.

1076
00:55:08,600 --> 00:55:10,600
Speaker 3: You haven't got it. You haven't got this Sky deal

1077
00:55:10,800 --> 00:55:13,960
Speaker 3: done yet, and you haven't got a principal sponsor at

1078
00:55:13,960 --> 00:55:14,600
Speaker 3: this point.

1079
00:55:16,120 --> 00:55:20,279
Speaker 9: Oh no, that's that's not totally true. We've got we've

1080
00:55:20,320 --> 00:55:23,239
Speaker 9: got a range of principles and we've got principle and

1081
00:55:23,360 --> 00:55:27,400
Speaker 9: arrange of global sponsors lockdown our you know, our sponsorship

1082
00:55:27,440 --> 00:55:29,560
Speaker 9: revenue has grown by over fifty percent in the last

1083
00:55:29,600 --> 00:55:33,680
Speaker 9: few years, so it's now significant part of the revenue

1084
00:55:33,680 --> 00:55:35,040
Speaker 9: profile compete to the past.

1085
00:55:35,080 --> 00:55:39,840
Speaker 3: So those conversations did that not include any of.

1086
00:55:41,680 --> 00:55:45,080
Speaker 9: It's part of it. Much has gone if you let

1087
00:55:45,080 --> 00:55:49,680
Speaker 9: me finish, We've got other conversations going on, and like

1088
00:55:49,719 --> 00:55:52,120
Speaker 9: I said, they don't happen overnight. But we're we're really

1089
00:55:52,120 --> 00:55:54,600
Speaker 9: positive about the value and the nature their brand on

1090
00:55:54,640 --> 00:55:57,399
Speaker 9: the global stage. So we'll keep working through that. As

1091
00:55:57,400 --> 00:56:00,520
Speaker 9: it relates to the media, rights. Well, we'll continued in

1092
00:56:00,600 --> 00:56:03,160
Speaker 9: the discussions we're having and I can't, for obvious reasons,

1093
00:56:03,160 --> 00:56:04,719
Speaker 9: say too much about that. But when you look at

1094
00:56:04,719 --> 00:56:07,400
Speaker 9: the quality of the calendar that we're bringing forward in

1095
00:56:07,440 --> 00:56:10,640
Speaker 9: this next five year cycle, we've got two lines series.

1096
00:56:10,640 --> 00:56:14,680
Speaker 9: With the invention of the Nation's Cup, which is going

1097
00:56:14,719 --> 00:56:16,720
Speaker 9: to be a massive international competition, we got a global

1098
00:56:16,719 --> 00:56:20,080
Speaker 9: club competition. Anyone that saw Super Rugby on the weekend

1099
00:56:20,120 --> 00:56:23,400
Speaker 9: would have seen that absolute incredible footing in the engagement,

1100
00:56:23,440 --> 00:56:28,440
Speaker 9: both in terms of broadcast and social media and just

1101
00:56:28,560 --> 00:56:31,440
Speaker 9: Genital Sentinel was incredible. So that we're in a good space.

1102
00:56:31,800 --> 00:56:36,920
Speaker 9: We've had two consecutive years of community numbers growing. We've

1103
00:56:36,920 --> 00:56:39,920
Speaker 9: got a whole lot of initiatives going into that area

1104
00:56:39,960 --> 00:56:43,239
Speaker 9: starting as as we kick off the season now. So look,

1105
00:56:43,280 --> 00:56:46,640
Speaker 9: there's lots of positives in forty ryan and we're looking

1106
00:56:46,680 --> 00:56:48,399
Speaker 9: forward to growing it throughout twenty twenty five.

1107
00:56:48,520 --> 00:56:50,160
Speaker 3: All Right, Mark, sounds good. Thank you very much for

1108
00:56:50,200 --> 00:56:53,400
Speaker 3: coming on the program. Always appreciated. Mark Robinson, the Inded

1109
00:56:53,480 --> 00:56:54,560
Speaker 3: Rugby Chief Executive.

1110
00:56:54,920 --> 00:56:58,920
Speaker 1: The Huddle with New Zealand Sullerby's international realty, local and

1111
00:56:58,960 --> 00:57:00,919
Speaker 1: global exposure like no other.

1112
00:57:01,239 --> 00:57:03,960
Speaker 3: It is eighteen to six Jordan Williams from the Texpayers

1113
00:57:04,040 --> 00:57:06,680
Speaker 3: Union and Ellie Jones from red PR on the huddle tonight.

1114
00:57:06,680 --> 00:57:10,760
Speaker 29: Good evening, guys, good evening, and also a local community board, Ryan,

1115
00:57:10,960 --> 00:57:13,520
Speaker 29: So thanks for that. We are a pack of nutbars

1116
00:57:13,880 --> 00:57:15,400
Speaker 29: with here growing out of our ears.

1117
00:57:15,440 --> 00:57:15,759
Speaker 28: Thank you.

1118
00:57:15,800 --> 00:57:17,840
Speaker 3: Know, I didn't actually realize you were on a local

1119
00:57:17,840 --> 00:57:24,160
Speaker 3: board until Laura. I've produced appointed that out. Yeah, I

1120
00:57:24,200 --> 00:57:26,560
Speaker 3: can tell you from my comments.

1121
00:57:26,960 --> 00:57:28,720
Speaker 31: Oh, Jordan, you're a slippery devil.

1122
00:57:28,800 --> 00:57:30,800
Speaker 29: Yes, I am the exception. Thank you.

1123
00:57:31,240 --> 00:57:33,840
Speaker 3: Hey, guys, let's talk about the official cash rate. Obviously

1124
00:57:33,880 --> 00:57:37,400
Speaker 3: it's dropped today, but the track going forward is for

1125
00:57:38,280 --> 00:57:43,560
Speaker 3: bigger drop, faster good news. What do you think when you, Jordan,

1126
00:57:43,640 --> 00:57:46,800
Speaker 3: when you listen to and watch those press conferences from

1127
00:57:46,960 --> 00:57:49,080
Speaker 3: the governor Adrian or what do you think about? Do

1128
00:57:49,080 --> 00:57:51,480
Speaker 3: you think, gosh, you're the guy that did this to us,

1129
00:57:51,640 --> 00:57:52,640
Speaker 3: because that's what I think.

1130
00:57:53,320 --> 00:57:55,280
Speaker 5: Well, I don't look at the press conference anymore. I

1131
00:57:55,360 --> 00:57:57,520
Speaker 5: listen to them because we have a Reserve Bank governor

1132
00:57:57,760 --> 00:57:59,800
Speaker 5: who doesn't appear to know how to iron a shirt

1133
00:57:59,840 --> 00:58:01,920
Speaker 5: and refuses to wear a tie and not take his

1134
00:58:02,000 --> 00:58:02,720
Speaker 5: job seriously.

1135
00:58:03,120 --> 00:58:05,800
Speaker 2: No, look, it's terrible to say that.

1136
00:58:05,880 --> 00:58:06,520
Speaker 3: Oh, it's good.

1137
00:58:06,560 --> 00:58:09,200
Speaker 5: Interest rates are going to come down further and faster.

1138
00:58:09,840 --> 00:58:13,360
Speaker 3: No, the projected growth.

1139
00:58:13,360 --> 00:58:17,280
Speaker 5: Compared to the same update, you know, the same document

1140
00:58:17,360 --> 00:58:19,600
Speaker 5: they produce in November, is worse.

1141
00:58:20,240 --> 00:58:21,440
Speaker 2: We're going backwards.

1142
00:58:21,600 --> 00:58:26,080
Speaker 5: Things are not good in the economy, and I mean,

1143
00:58:26,880 --> 00:58:29,920
Speaker 5: ultimately we're all on economic growth, you know, that's what

1144
00:58:30,040 --> 00:58:32,840
Speaker 5: makes me zeal and prosperous. That gives us the ability

1145
00:58:32,880 --> 00:58:37,000
Speaker 5: to pay for good public services, the ability to have

1146
00:58:37,120 --> 00:58:41,480
Speaker 5: good standards of living. And we've gott every indicator for

1147
00:58:42,360 --> 00:58:45,760
Speaker 5: you know, for the last year, every update, it's getting

1148
00:58:45,800 --> 00:58:47,320
Speaker 5: worse than we thought it would be.

1149
00:58:47,920 --> 00:58:51,840
Speaker 29: Hellie, I wonder where the cost of living plays a

1150
00:58:51,880 --> 00:58:55,000
Speaker 29: part in that too. I am not an economist, and

1151
00:58:55,040 --> 00:58:58,080
Speaker 29: as someone who's just living day to day of finding

1152
00:58:58,160 --> 00:59:02,800
Speaker 29: things extremely expensive. Yes, of course mortgage interest rates dropping

1153
00:59:02,880 --> 00:59:05,000
Speaker 29: is going to help as far as have money for

1154
00:59:05,080 --> 00:59:09,160
Speaker 29: people to spend, but as far as making life easier

1155
00:59:09,320 --> 00:59:12,720
Speaker 29: and reducing the cost of living, the food prices, we're

1156
00:59:12,760 --> 00:59:16,200
Speaker 29: still being ripped off by those. We've got premiums for insurance.

1157
00:59:16,280 --> 00:59:18,640
Speaker 29: Insurance is turning into a nice to have and it

1158
00:59:18,680 --> 00:59:22,280
Speaker 29: can't be. We've got rates that are out of control.

1159
00:59:22,360 --> 00:59:26,280
Speaker 29: I mean, you can't just fix it by lowering mortgage

1160
00:59:26,320 --> 00:59:29,400
Speaker 29: interest rates, and I think that those other things are

1161
00:59:29,400 --> 00:59:32,720
Speaker 29: being left to get out of control and that's what's

1162
00:59:32,760 --> 00:59:34,560
Speaker 29: making life really hard for people.

1163
00:59:34,720 --> 00:59:37,880
Speaker 3: Yeah, it's a good point actually, because Jordan we don't

1164
00:59:37,920 --> 00:59:42,840
Speaker 3: have disinflation, so you know, inflation pushes all the prices up,

1165
00:59:43,320 --> 00:59:49,280
Speaker 3: and sure some people's wages have increased alongside that, but

1166
00:59:49,320 --> 00:59:51,720
Speaker 3: for most people that's not the case. For many people,

1167
00:59:51,720 --> 00:59:53,800
Speaker 3: that's not the case. And it's not like prices have

1168
00:59:53,840 --> 00:59:55,880
Speaker 3: actually gone down. I mean they go up and they

1169
00:59:55,920 --> 01:00:00,880
Speaker 3: stay there and they just don't increase at the same rate. Right, Yeah,

1170
01:00:00,920 --> 01:00:02,960
Speaker 3: that's all of that's true.

1171
01:00:03,160 --> 01:00:06,600
Speaker 5: But I mean the even when we go get back,

1172
01:00:06,600 --> 01:00:09,160
Speaker 5: when we focus to get back to growth, it's only

1173
01:00:09,320 --> 01:00:13,120
Speaker 5: growth per capita or GDP per capita that matters. And

1174
01:00:13,200 --> 01:00:17,320
Speaker 5: on that measure, we are in the longest recession or

1175
01:00:17,400 --> 01:00:19,800
Speaker 5: quarter you know, you know, quarter to quarter to quarter

1176
01:00:19,840 --> 01:00:23,360
Speaker 5: to quarter on a per person basis, the longest since

1177
01:00:23,400 --> 01:00:26,400
Speaker 5: records began. You know, we're in you know, we've got

1178
01:00:26,640 --> 01:00:30,040
Speaker 5: real problems. And I would argue that the government simply

1179
01:00:30,080 --> 01:00:34,360
Speaker 5: is not acting with the urgency. Ali Rightney mentions local government,

1180
01:00:34,360 --> 01:00:36,440
Speaker 5: you know, the big outlier in the stat sense of

1181
01:00:36,520 --> 01:00:40,360
Speaker 5: data on inflation is the cost of local government and

1182
01:00:40,400 --> 01:00:43,200
Speaker 5: you know, Simmy and Brown was doing some great work there.

1183
01:00:43,560 --> 01:00:46,200
Speaker 5: We've now got, you know, the minister that's just lumped

1184
01:00:46,280 --> 01:00:51,520
Speaker 5: us with larger climate taxes. You know, actually though the

1185
01:00:52,000 --> 01:00:54,120
Speaker 5: climate tax is going up later this year with under

1186
01:00:54,120 --> 01:00:55,080
Speaker 5: the ets.

1187
01:00:55,080 --> 01:00:57,120
Speaker 3: So you're saying that government they need to move work

1188
01:00:57,160 --> 01:01:00,840
Speaker 3: a lot harder. Jordan Williams, tax Payer Jones, red PR.

1189
01:01:00,840 --> 01:01:02,520
Speaker 3: We're back in a second with more from the Huddle.

1190
01:01:03,160 --> 01:01:06,880
Speaker 1: The Huddle with New Zealand Southeby's International Realty Elevate the

1191
01:01:06,920 --> 01:01:08,000
Speaker 1: marketing of your home.

1192
01:01:08,200 --> 01:01:10,640
Speaker 3: Jordan Williams from the Taxpayer's Union and Ellie Jones from

1193
01:01:10,680 --> 01:01:13,480
Speaker 3: red PR on the Huddle tonight. The Right to Repair,

1194
01:01:13,560 --> 01:01:15,680
Speaker 3: So there's a member's bill before Parliament that's going to

1195
01:01:15,680 --> 01:01:18,880
Speaker 3: be read today and MPs will get to vote on

1196
01:01:19,000 --> 01:01:21,800
Speaker 3: whether they think it should happens. It would force the

1197
01:01:21,840 --> 01:01:25,800
Speaker 3: manufacturers to repair stuff. Ellie, I just wonder how much

1198
01:01:25,800 --> 01:01:30,200
Speaker 3: stuff is repairable. I mean you think exactly yeah in

1199
01:01:30,200 --> 01:01:30,720
Speaker 3: my camp?

1200
01:01:31,360 --> 01:01:33,840
Speaker 29: Yeah, no, Look, I completely agree. I don't think you

1201
01:01:33,840 --> 01:01:36,040
Speaker 29: can force companies to do a repair. I think the

1202
01:01:36,080 --> 01:01:39,880
Speaker 29: Consumer Guarantees Act is pretty clear as far as the

1203
01:01:39,960 --> 01:01:43,680
Speaker 29: life of an object or thing is and I think

1204
01:01:43,720 --> 01:01:46,360
Speaker 29: that that works pretty well when people know how it

1205
01:01:46,440 --> 01:01:48,200
Speaker 29: works and they call people out on it, and I

1206
01:01:48,320 --> 01:01:52,080
Speaker 29: do that regularly. I return the vacuum cleaner yesterday. How

1207
01:01:52,080 --> 01:01:54,760
Speaker 29: long should something last? You know, let's have that discussion.

1208
01:01:54,840 --> 01:01:57,360
Speaker 29: If it's cheap, is it a fair expectation that it

1209
01:01:57,360 --> 01:01:59,720
Speaker 29: won't last? And it's just tough if it breaks? I

1210
01:02:00,400 --> 01:02:02,960
Speaker 29: think it's admirable this kind of idea. I don't think

1211
01:02:03,000 --> 01:02:05,840
Speaker 29: it will work. We have places in christ Church where

1212
01:02:05,840 --> 01:02:09,080
Speaker 29: you take things to get them repaired. There's one Enrichmond

1213
01:02:09,120 --> 01:02:12,200
Speaker 29: near me called Repair Revolution. I've had a handbag repaired

1214
01:02:12,240 --> 01:02:15,600
Speaker 29: and and a lamp repaired. Yeah, I don't think it's

1215
01:02:15,640 --> 01:02:18,320
Speaker 29: feasible to be able to make something like that work.

1216
01:02:19,160 --> 01:02:21,880
Speaker 29: Not everything can be repaired. Let's time make things last

1217
01:02:21,880 --> 01:02:24,120
Speaker 29: as long as they can. But you know, are people

1218
01:02:24,120 --> 01:02:26,240
Speaker 29: are going to have the time or the wherewithal to

1219
01:02:26,240 --> 01:02:28,280
Speaker 29: actually get something repaired or just take it to the dump.

1220
01:02:28,320 --> 01:02:29,280
Speaker 29: I think it'll be the latter.

1221
01:02:29,360 --> 01:02:30,920
Speaker 3: What happened to your vacuum cleaner?

1222
01:02:32,320 --> 01:02:35,920
Speaker 29: It stopped sucking, which is quite important for a vacuum cleaner.

1223
01:02:35,960 --> 01:02:38,080
Speaker 29: And when I took it back Ryan, I was told

1224
01:02:38,080 --> 01:02:40,520
Speaker 29: that I hadn't cleaned the filters, and I felt I

1225
01:02:40,560 --> 01:02:43,680
Speaker 29: felt quite put out by that someone was questioning my

1226
01:02:43,840 --> 01:02:47,320
Speaker 29: parenting ability of a vacuum cleaner. And so but anyway,

1227
01:02:47,360 --> 01:02:50,320
Speaker 29: they were very good customers, always right, So thumbs up

1228
01:02:50,320 --> 01:02:50,800
Speaker 29: to Bristol.

1229
01:02:51,520 --> 01:02:54,320
Speaker 3: They fixed it and you went home with the repair.

1230
01:02:54,920 --> 01:02:57,120
Speaker 29: No, because I'd already bought another one and they couldn't

1231
01:02:57,160 --> 01:02:59,040
Speaker 29: fix it. So they gave me my money back. So

1232
01:02:59,280 --> 01:03:01,840
Speaker 29: I did say that Consumer Guarantees Act allows me to

1233
01:03:01,880 --> 01:03:02,720
Speaker 29: do this, and they agree.

1234
01:03:02,800 --> 01:03:04,800
Speaker 3: And how long ago did you buy it?

1235
01:03:04,880 --> 01:03:06,440
Speaker 29: October twenty fifth of October?

1236
01:03:06,520 --> 01:03:09,040
Speaker 3: Ah, okay, so that's fair enough. Jordan went, have you

1237
01:03:09,080 --> 01:03:10,640
Speaker 3: taken anything back to the store lately?

1238
01:03:12,840 --> 01:03:14,560
Speaker 5: No, But I sort of to have something similar to

1239
01:03:14,600 --> 01:03:16,640
Speaker 5: this and that a few years ago I brought something

1240
01:03:16,720 --> 01:03:19,720
Speaker 5: called a car thing off Spotify, which is like a

1241
01:03:19,760 --> 01:03:23,160
Speaker 5: controller for you, sort of remote controller for Spotify. And

1242
01:03:23,200 --> 01:03:25,480
Speaker 5: then just before Christmas they up and said, oh, we're

1243
01:03:25,480 --> 01:03:28,280
Speaker 5: no longer supporting that anymore, and just like pulled the

1244
01:03:28,400 --> 01:03:31,680
Speaker 5: software support for it. So this thing that costs like

1245
01:03:31,680 --> 01:03:34,920
Speaker 5: one hundred yuears no longer words thought, was that rageous

1246
01:03:36,360 --> 01:03:37,040
Speaker 5: in terms.

1247
01:03:36,880 --> 01:03:38,360
Speaker 11: Of the right to repair?

1248
01:03:38,440 --> 01:03:40,720
Speaker 5: A lot of this sort of goes back to this,

1249
01:03:40,880 --> 01:03:42,840
Speaker 5: is it a movement for consumer movement in the US

1250
01:03:43,360 --> 01:03:46,560
Speaker 5: when John Deer started making all these stuff proprietary so

1251
01:03:46,600 --> 01:03:49,720
Speaker 5: that Joe Farmer couldn't go and fix it. It's it's like,

1252
01:03:49,920 --> 01:03:53,760
Speaker 5: I mean, bumper stick of policy. Really God, but realistically

1253
01:03:53,920 --> 01:03:56,280
Speaker 5: Apple going to change the design of their iPhone to

1254
01:03:56,360 --> 01:03:59,800
Speaker 5: make the battery replaceable or being able to the consumer

1255
01:03:59,840 --> 01:04:01,920
Speaker 5: be able to do it. I think in a world

1256
01:04:01,960 --> 01:04:05,560
Speaker 5: of electronics where stuff is frankly, you know, a lot

1257
01:04:05,600 --> 01:04:08,800
Speaker 5: more proprietary in the like I think Allie's you know,

1258
01:04:09,120 --> 01:04:12,480
Speaker 5: this conversation has shown it. It's a strong consumer guarantees

1259
01:04:12,520 --> 01:04:17,160
Speaker 5: act things are fit for purpose. That's more important than

1260
01:04:17,280 --> 01:04:19,280
Speaker 5: the ability to sort of you know, to tinker with

1261
01:04:19,720 --> 01:04:22,600
Speaker 5: tinker with with with your John Dare or whatever.

1262
01:04:22,800 --> 01:04:26,000
Speaker 3: Yeah, yeah, or you're so many texts coming in today

1263
01:04:26,000 --> 01:04:29,880
Speaker 3: about water blasters. Apparently water a lot of water blasters

1264
01:04:29,920 --> 01:04:33,240
Speaker 3: breaking around New Zealand and they will charge you half

1265
01:04:33,280 --> 01:04:36,840
Speaker 3: the cost of the brand new water blast. Crisis crisis.

1266
01:04:37,200 --> 01:04:40,200
Speaker 3: Everyone's going to have filthy homes just to fix.

1267
01:04:40,600 --> 01:04:42,520
Speaker 5: But a water blaster would be fun to fix.

1268
01:04:43,120 --> 01:04:43,280
Speaker 17: You know.

1269
01:04:43,320 --> 01:04:46,440
Speaker 5: There's some things that look, I can't push a pen

1270
01:04:46,560 --> 01:04:49,920
Speaker 5: round for a living. So my summer was like you know,

1271
01:04:50,200 --> 01:04:55,320
Speaker 5: at the at my wife's of the family batch. You

1272
01:04:55,360 --> 01:04:56,800
Speaker 5: know that I broke the ride on.

1273
01:04:57,440 --> 01:04:59,200
Speaker 2: I don't know anything about ride ons.

1274
01:04:59,320 --> 01:05:02,480
Speaker 5: I'm terrible that sort of thing. But what probably took

1275
01:05:02,520 --> 01:05:05,280
Speaker 5: someone with any skill half an hour took me two

1276
01:05:05,360 --> 01:05:05,959
Speaker 5: days and.

1277
01:05:05,880 --> 01:05:06,880
Speaker 32: I loved it.

1278
01:05:06,880 --> 01:05:08,200
Speaker 3: It was so satisfying.

1279
01:05:08,720 --> 01:05:11,800
Speaker 29: You're exceptional, though, Jordan, No, you're definitely exceptional. There are

1280
01:05:11,840 --> 01:05:14,280
Speaker 29: many people who would take take a look at something

1281
01:05:14,360 --> 01:05:16,080
Speaker 29: like that and either not even give it a go,

1282
01:05:16,560 --> 01:05:18,200
Speaker 29: or give it a go for ten minutes and then

1283
01:05:18,240 --> 01:05:20,320
Speaker 29: lose interest in That would be me. So that's the

1284
01:05:20,360 --> 01:05:22,320
Speaker 29: other thing. It's going to end up in landfill or

1285
01:05:22,360 --> 01:05:24,920
Speaker 29: be sold cheap as is, whereas I don't think people

1286
01:05:24,920 --> 01:05:27,480
Speaker 29: are going to you know, if you've got something in law,

1287
01:05:27,520 --> 01:05:28,960
Speaker 29: I don't think it's going to make any difference.

1288
01:05:29,120 --> 01:05:31,240
Speaker 3: Allie Jones, thank you very much from Red pr and

1289
01:05:31,320 --> 01:05:33,680
Speaker 3: Jordan Williams from the Taxpayers Union. And what have we

1290
01:05:33,760 --> 01:05:37,240
Speaker 3: learned from that discussion where we've learned that whoever Jordan

1291
01:05:37,360 --> 01:05:41,200
Speaker 3: is married to has parents have a batch that's big

1292
01:05:41,280 --> 01:05:45,200
Speaker 3: enough to have its own right on lawnmower. It's six

1293
01:05:45,240 --> 01:05:46,640
Speaker 3: minutes away from six.

1294
01:05:47,280 --> 01:05:50,760
Speaker 1: It's the Heather Duplessy Allen Drive Full Show podcast on

1295
01:05:50,960 --> 01:05:55,320
Speaker 1: my Heart Radio powered by News TALKSB News Talks.

1296
01:05:55,360 --> 01:05:58,680
Speaker 3: There be four away from six lots of texts on

1297
01:05:59,000 --> 01:06:02,560
Speaker 3: the issue of hearing your goods. I like this from

1298
01:06:02,560 --> 01:06:05,160
Speaker 3: a cobbler in christ Church, which is a shoe repairer.

1299
01:06:05,520 --> 01:06:09,200
Speaker 3: Sorry in Hamilton, forgive me, Hi, Ryan, We are flat

1300
01:06:09,200 --> 01:06:11,480
Speaker 3: out at the moment. But there is a difference between

1301
01:06:11,520 --> 01:06:14,480
Speaker 3: a decent leather shoe and a km up warehouse shoe.

1302
01:06:14,480 --> 01:06:18,280
Speaker 3: The cheaper ones are more expensive to resole. That means

1303
01:06:18,320 --> 01:06:21,000
Speaker 3: they are really worth fixing. But if you buy something

1304
01:06:21,080 --> 01:06:24,120
Speaker 3: decent to start with, it is actually quite economical to

1305
01:06:24,160 --> 01:06:26,440
Speaker 3: repair it. You don't throw your car out because you

1306
01:06:26,520 --> 01:06:28,000
Speaker 3: need new tires.

1307
01:06:27,720 --> 01:06:27,960
Speaker 8: Do you.

1308
01:06:28,080 --> 01:06:30,680
Speaker 3: I suppose it's not, but I mean, it just depends

1309
01:06:30,680 --> 01:06:32,360
Speaker 3: how much you've got to spend up front on a

1310
01:06:32,360 --> 01:06:34,760
Speaker 3: pair of shoes. That's really what it would come down to.

1311
01:06:35,040 --> 01:06:40,720
Speaker 3: I would think, really interesting, someone says I had my

1312
01:06:40,800 --> 01:06:44,400
Speaker 3: heart broken. I can't get it repaired. That's said, and

1313
01:06:44,480 --> 01:06:47,200
Speaker 3: this is not the place to have it fixed, so sorry.

1314
01:06:48,600 --> 01:06:50,400
Speaker 3: Coming up to six o'clock on news Talk said be

1315
01:06:50,520 --> 01:06:53,200
Speaker 3: more on the ocr with donative training from the Herald

1316
01:06:53,320 --> 01:06:53,920
Speaker 3: after six.

1317
01:06:57,760 --> 01:07:04,640
Speaker 33: If this were Man where business meets insight the Business Hour,

1318
01:07:04,880 --> 01:07:08,920
Speaker 33: it's with Ryan Bridge and Man's Insurance and Investments.

1319
01:07:09,320 --> 01:07:11,160
Speaker 2: Grow your wealth, Protect your future.

1320
01:07:11,480 --> 01:07:15,000
Speaker 3: News Talks, dB good editing seven after six. Coming up

1321
01:07:15,040 --> 01:07:17,960
Speaker 3: this evening A Herald's Jeanete Tip training is with us.

1322
01:07:18,040 --> 01:07:21,080
Speaker 3: She asked Adrian all today about long term you know

1323
01:07:21,120 --> 01:07:23,600
Speaker 3: your fixed mortgage rates. We'll hear what he had to

1324
01:07:23,640 --> 01:07:26,240
Speaker 3: say to her. Shortly big day for the NZX. We'll

1325
01:07:26,240 --> 01:07:29,760
Speaker 3: get reaction from Milford, Fonterra still mulling how they'll sell

1326
01:07:29,800 --> 01:07:32,120
Speaker 3: their consumer brands, and Gavin Gray's in the UK. That's

1327
01:07:32,160 --> 01:07:34,760
Speaker 3: all I head here on the Business Hour right now.

1328
01:07:34,840 --> 01:07:37,919
Speaker 3: Fetcher Building is in the red again, a company today

1329
01:07:37,920 --> 01:07:40,280
Speaker 3: announcing it made one hundred and thirty four million dollar

1330
01:07:40,360 --> 01:07:42,600
Speaker 3: net loss after tacks for the half year two December.

1331
01:07:42,640 --> 01:07:44,960
Speaker 3: That's down one hundred from one hundred and twenty million

1332
01:07:44,960 --> 01:07:48,200
Speaker 3: dollars last year. It's the tough result for the entire

1333
01:07:48,240 --> 01:07:51,200
Speaker 3: business with the clients basically across all of the different

1334
01:07:51,200 --> 01:07:55,000
Speaker 3: business units. Andrew reading as fletch A's chief executive Andrew.

1335
01:07:54,680 --> 01:07:57,160
Speaker 25: Hello, Hello, it's nice to meet you're own.

1336
01:07:57,320 --> 01:07:59,040
Speaker 3: Nice to talk to you too. So you're not selling

1337
01:07:59,160 --> 01:07:59,640
Speaker 3: enough stuff.

1338
01:07:59,680 --> 01:08:04,400
Speaker 25: Basically, it's a bit difficult too when the market isn't

1339
01:08:04,400 --> 01:08:05,080
Speaker 25: there to buy it.

1340
01:08:05,720 --> 01:08:08,520
Speaker 3: Do you know, do you think the market has bottomed out?

1341
01:08:10,160 --> 01:08:10,400
Speaker 9: Look?

1342
01:08:10,440 --> 01:08:13,320
Speaker 25: I mean that's a question on everybody's lips. And we

1343
01:08:13,440 --> 01:08:16,559
Speaker 25: hear some people saying there are green shoots. We're a

1344
01:08:16,600 --> 01:08:19,880
Speaker 25: bit more nervous about that. There are some businesses that

1345
01:08:19,920 --> 01:08:23,439
Speaker 25: are seeing early signs of recovery and others aren't seeing

1346
01:08:23,560 --> 01:08:27,519
Speaker 25: much change in volumes at all. And remember I'm thinking

1347
01:08:27,560 --> 01:08:29,840
Speaker 25: about both Australia and New Zealand when I say that.

1348
01:08:31,080 --> 01:08:34,280
Speaker 25: So with some of the interest rate cuts around October

1349
01:08:34,360 --> 01:08:37,760
Speaker 25: last year, we did see a small pickup in our

1350
01:08:37,840 --> 01:08:42,320
Speaker 25: residential and development business, about a seventeen percent increasing sales

1351
01:08:42,360 --> 01:08:46,639
Speaker 25: in September to December period versus the July and August.

1352
01:08:47,560 --> 01:08:49,880
Speaker 25: But it's not boom times yet. And I think what

1353
01:08:49,880 --> 01:08:53,599
Speaker 25: people forget is that even if you start dropping interest rates,

1354
01:08:53,640 --> 01:08:58,200
Speaker 25: there's a period between in thinking about a house and

1355
01:08:58,240 --> 01:09:00,920
Speaker 25: it getting built, and that period anywhere between six and

1356
01:09:01,040 --> 01:09:01,960
Speaker 25: nine months sort of thing.

1357
01:09:02,280 --> 01:09:04,799
Speaker 3: We've just had Adrian or announce say another fifty basis

1358
01:09:04,800 --> 01:09:07,920
Speaker 3: point cut to the ici. He's talking about another fifty

1359
01:09:07,960 --> 01:09:10,320
Speaker 3: by midyear. Getting down to three by the end of

1360
01:09:10,320 --> 01:09:13,080
Speaker 3: the year. That'll obviously be good news to your ears.

1361
01:09:13,520 --> 01:09:14,600
Speaker 3: Welcome news for you.

1362
01:09:14,640 --> 01:09:18,160
Speaker 25: I assume it has just brought a smile to my face.

1363
01:09:18,200 --> 01:09:21,320
Speaker 25: I will have to admit. I think what we have

1364
01:09:21,439 --> 01:09:24,080
Speaker 25: to remember is that it will take time to feed through.

1365
01:09:24,680 --> 01:09:27,400
Speaker 25: But it does underline that it's not a case of

1366
01:09:27,920 --> 01:09:31,040
Speaker 25: when the market change, sorry if the market changes, but

1367
01:09:31,080 --> 01:09:33,760
Speaker 25: when it changes. So I have no doubts in my

1368
01:09:33,840 --> 01:09:35,800
Speaker 25: mind that at some stage or other we will start

1369
01:09:35,840 --> 01:09:38,920
Speaker 25: to see demand taking off of a lot of what

1370
01:09:38,960 --> 01:09:41,040
Speaker 25: we're doing at the moment. In the cost out exercise,

1371
01:09:41,080 --> 01:09:43,320
Speaker 25: we've been carrying it out. It's the right size of

1372
01:09:43,320 --> 01:09:45,840
Speaker 25: our business and get it prepared and ready for any

1373
01:09:45,920 --> 01:09:47,639
Speaker 25: uplift in the market that might happen.

1374
01:09:48,680 --> 01:09:51,280
Speaker 3: Yeah, you've been cutting costs and you're actually a head

1375
01:09:51,280 --> 01:09:52,920
Speaker 3: of schedule. What have you been cutting?

1376
01:09:54,880 --> 01:09:59,599
Speaker 25: So we've got ninety one million out for the half year,

1377
01:09:59,760 --> 01:10:03,400
Speaker 25: sixty million of which is in overheads and thirty million

1378
01:10:03,840 --> 01:10:06,920
Speaker 25: is in cogs. So the cogs is the sort of

1379
01:10:07,120 --> 01:10:11,960
Speaker 25: variable cost that you might have in supplying product. The

1380
01:10:12,040 --> 01:10:16,559
Speaker 25: overhead has been a whole variety of activities, including some

1381
01:10:16,680 --> 01:10:21,640
Speaker 25: heads out, some facilities being shuttle mothboard. So it's a

1382
01:10:21,640 --> 01:10:22,920
Speaker 25: whole range of activities.

1383
01:10:23,000 --> 01:10:24,920
Speaker 3: Obviously you're going to wait for the market to pick

1384
01:10:24,960 --> 01:10:26,559
Speaker 3: up again, but you can't just sit on your hands

1385
01:10:26,600 --> 01:10:28,160
Speaker 3: while you do that. So I note that you're going

1386
01:10:28,160 --> 01:10:31,760
Speaker 3: to review the business parts of the business, including Placemakers.

1387
01:10:31,760 --> 01:10:33,400
Speaker 3: Why placemakers and what are you planning?

1388
01:10:34,880 --> 01:10:38,320
Speaker 25: I think that that was taken slightly out of context.

1389
01:10:38,320 --> 01:10:42,280
Speaker 25: Placemakers is one of our leading businesses. But what we're

1390
01:10:42,280 --> 01:10:45,840
Speaker 25: doing there is historically the number of branches that were

1391
01:10:45,840 --> 01:10:50,200
Speaker 25: managed by JV partners has been reduced, and what we're

1392
01:10:50,240 --> 01:10:52,200
Speaker 25: going to do now is actually increase the number of

1393
01:10:52,280 --> 01:10:56,200
Speaker 25: JV partners that we have, especially in the rural branches.

1394
01:10:56,560 --> 01:10:58,439
Speaker 25: And we find that if you have somebody who is

1395
01:10:59,120 --> 01:11:01,679
Speaker 25: a skin in the game aim, then they pay absolute

1396
01:11:01,720 --> 01:11:05,360
Speaker 25: attention to the branch's profit loss account and they give

1397
01:11:05,360 --> 01:11:08,920
Speaker 25: excellent customer service. So we're just going to tweak the

1398
01:11:08,960 --> 01:11:10,479
Speaker 25: model rather than review it.

1399
01:11:10,880 --> 01:11:13,840
Speaker 3: Right, So having someone local actually makes a big difference to.

1400
01:11:13,800 --> 01:11:16,040
Speaker 25: A business, huge difference.

1401
01:11:16,120 --> 01:11:18,639
Speaker 3: Yeah, interesting, Andrew, thank you very much for that. Really

1402
01:11:18,680 --> 01:11:19,439
Speaker 3: appreciate your time.

1403
01:11:20,600 --> 01:11:22,080
Speaker 25: No problem is all likes to talk to you.

1404
01:11:22,840 --> 01:11:25,719
Speaker 3: That's Andrew reading Chief executive at Fletcher Building with us tonight.

1405
01:11:25,760 --> 01:11:29,040
Speaker 3: They're just announced today. Quite chipper for a guy who's

1406
01:11:29,120 --> 01:11:31,040
Speaker 3: just made a loss of one hundred and thirty four

1407
01:11:31,040 --> 01:11:35,720
Speaker 3: million dollars net loss after six months. But you know,

1408
01:11:35,880 --> 01:11:38,360
Speaker 3: hopefully things will turn a corner and hopefully what Adrian

1409
01:11:38,520 --> 01:11:40,760
Speaker 3: Or and the sl have done on Wellington today will

1410
01:11:40,760 --> 01:11:43,160
Speaker 3: help with that process. It's eleven minutes after six update

1411
01:11:43,200 --> 01:11:46,080
Speaker 3: on Tom Phillips the missing man police have released something.

1412
01:11:46,120 --> 01:11:48,639
Speaker 3: We'll give that to you shortly. Also, next we're going

1413
01:11:48,720 --> 01:11:52,720
Speaker 3: to Milford Asset Management Why lot for the INSIDEX to

1414
01:11:52,800 --> 01:11:53,840
Speaker 3: digest Today.

1415
01:11:54,400 --> 01:11:57,720
Speaker 1: It's the Heather Dooper Cel and Drive Full Show podcast

1416
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Speaker 1: on Iheartradiom.

1417
01:11:59,120 --> 01:11:59,840
Speaker 2: Powered by News.

1418
01:12:02,680 --> 01:12:05,840
Speaker 3: It's time to invest in yourself. In Milford's words, to

1419
01:12:05,880 --> 01:12:09,000
Speaker 3: make twenty twenty five your Money's year. I think we've

1420
01:12:09,000 --> 01:12:12,360
Speaker 3: all realized that retirement planning needs to happen now. In

1421
01:12:12,400 --> 01:12:14,920
Speaker 3: the present you has to look after future you, and

1422
01:12:14,960 --> 01:12:17,920
Speaker 3: that starts here. Mapping up the journey and knowing what

1423
01:12:17,960 --> 01:12:21,080
Speaker 3: it'll take to get there are both crucial. Start by

1424
01:12:21,160 --> 01:12:25,120
Speaker 3: visiting Moneygoals dot co dot nz you'll find a range

1425
01:12:25,120 --> 01:12:29,080
Speaker 3: of Milford's investing insights, financial goal setting tips. Expert keiwisaver

1426
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Speaker 3: hacks and info on retirement planning. When they say there's

1427
01:12:31,960 --> 01:12:34,280
Speaker 3: something for everyone there, that's pretty much on the money.

1428
01:12:34,760 --> 01:12:37,680
Speaker 3: Milford's role in all of this is to empower you

1429
01:12:38,320 --> 01:12:41,719
Speaker 3: to grow your money through the right investments to balance

1430
01:12:41,760 --> 01:12:44,960
Speaker 3: the risks and the returns future you well, thank you

1431
01:12:45,040 --> 01:12:47,880
Speaker 3: for it. Visit money goals dot co dot nz. Past

1432
01:12:47,920 --> 01:12:51,240
Speaker 3: performance is not a reliable indicator of future performance. Milford

1433
01:12:51,240 --> 01:12:53,679
Speaker 3: Funds Limited is the issue of the Milford Keepsaver Plan

1434
01:12:53,720 --> 01:12:56,679
Speaker 3: and the Milford Investment Funds. Go to Milfordasset dot com

1435
01:12:56,720 --> 01:12:59,200
Speaker 3: to read the relevant Milford product disclosure statement and to

1436
01:12:59,240 --> 01:13:01,519
Speaker 3: read their Financial Life Vice provided disclosure statement.

1437
01:13:01,840 --> 01:13:03,559
Speaker 2: Ran Bridge your news.

1438
01:13:03,360 --> 01:13:05,479
Speaker 3: Talks and we will be speaking to Milford actually in

1439
01:13:05,479 --> 01:13:08,120
Speaker 3: just a few moments to get a market update right now, though,

1440
01:13:08,160 --> 01:13:10,920
Speaker 3: the banks have followed Adrian Or and they are cutting

1441
01:13:11,280 --> 01:13:14,360
Speaker 3: mortgage interest rates after the OCR decision. This afternoon, amz

1442
01:13:14,439 --> 01:13:17,599
Speaker 3: it's two year rate is down below the five percent

1443
01:13:17,720 --> 01:13:20,920
Speaker 3: mark to four night I mean barely four nine to nine.

1444
01:13:21,520 --> 01:13:23,280
Speaker 3: But it is of course bad news for sabers. Term

1445
01:13:23,320 --> 01:13:25,680
Speaker 3: deposit rates have been cut to Jane tips Training is

1446
01:13:25,720 --> 01:13:28,519
Speaker 3: The Herald's Wellington Business editor. She's with US tonight. Hi Jane,

1447
01:13:28,840 --> 01:13:31,040
Speaker 3: Hi Ryan. Now, I saw your question and I thought,

1448
01:13:31,040 --> 01:13:33,960
Speaker 3: great question to the Reserve Bank today at the press

1449
01:13:34,160 --> 01:13:37,759
Speaker 3: about the longer term rates, your two to five years,

1450
01:13:37,800 --> 01:13:39,240
Speaker 3: what can we expect to see there?

1451
01:13:40,080 --> 01:13:45,720
Speaker 32: That's right, Assistant Governor Karen Silk basically tempered people's expectations

1452
01:13:45,760 --> 01:13:49,240
Speaker 32: around those longer term rates coming down. She made the

1453
01:13:49,280 --> 01:13:53,519
Speaker 32: point that, yes, the OCI has a more direct impact

1454
01:13:53,560 --> 01:13:56,400
Speaker 32: on floating rates and on shorter term rates, but when

1455
01:13:56,479 --> 01:14:00,479
Speaker 32: it comes to those two, three, four five year mortgage rates,

1456
01:14:00,960 --> 01:14:05,240
Speaker 32: those are affected by a range of international factors that

1457
01:14:05,320 --> 01:14:08,640
Speaker 32: are beyond the Reserve banks control. So the thing is

1458
01:14:08,640 --> 01:14:10,680
Speaker 32: is that at the moment, some of those factors are

1459
01:14:10,680 --> 01:14:13,719
Speaker 32: putting quite a bit of upward pressure on interest rates.

1460
01:14:13,960 --> 01:14:17,719
Speaker 32: So if you are floating or fixing for a short term,

1461
01:14:17,920 --> 01:14:20,200
Speaker 32: those rates will keep coming down a bit. But if

1462
01:14:20,200 --> 01:14:23,679
Speaker 32: you're looking to fix longer term, we might not see

1463
01:14:24,160 --> 01:14:27,360
Speaker 32: mortgage rates come down too much. Now, some of those

1464
01:14:27,400 --> 01:14:31,120
Speaker 32: factors that are pushing up those rates are the fact

1465
01:14:31,200 --> 01:14:35,639
Speaker 32: that investors around the world are worried about Donald Trump's

1466
01:14:35,640 --> 01:14:39,960
Speaker 32: policies being inflationary, so Federal Reserve interest rate that the

1467
01:14:40,000 --> 01:14:44,880
Speaker 32: Federal Reserve not cutting rates as quickly also worried about

1468
01:14:44,880 --> 01:14:49,240
Speaker 32: geopolitical risks and worried about the US, the finances in

1469
01:14:49,280 --> 01:14:53,479
Speaker 32: the US and the government's fiscal deficit. So those factors

1470
01:14:53,479 --> 01:14:57,040
Speaker 32: are making it more expensive for banks to borrow, and

1471
01:14:57,320 --> 01:15:01,240
Speaker 32: that does affect people looking to fixing more for longer term.

1472
01:15:01,520 --> 01:15:05,479
Speaker 3: We're getting punched in the head twice, isn't it. You know, Well,

1473
01:15:05,520 --> 01:15:07,920
Speaker 3: finally we get some relief, but oh no, actually we've

1474
01:15:07,960 --> 01:15:10,320
Speaker 3: got trumps. So those longer term rates aren't going to

1475
01:15:10,360 --> 01:15:11,760
Speaker 3: be as attractive as we would have hoped.

1476
01:15:12,400 --> 01:15:15,400
Speaker 32: I know, it's it's really it's really one thing after

1477
01:15:15,479 --> 01:15:18,760
Speaker 32: the next. And yeah, and you know, the Reserve Bank

1478
01:15:18,800 --> 01:15:20,479
Speaker 32: did share a bit of data on that. They said

1479
01:15:20,520 --> 01:15:23,840
Speaker 32: that currently the average interest rate that banks receive on

1480
01:15:23,880 --> 01:15:27,400
Speaker 32: all the mortgages is about six point two percent. By December,

1481
01:15:27,840 --> 01:15:30,719
Speaker 32: they reckon it'll only get to five point seven percent.

1482
01:15:31,160 --> 01:15:35,280
Speaker 32: So while, you know, while we'll start to feel those

1483
01:15:35,479 --> 01:15:39,080
Speaker 32: lower interest rates quite soon, the overall impact is not

1484
01:15:39,120 --> 01:15:41,559
Speaker 32: going to be big. Like, if the average interest rate

1485
01:15:41,560 --> 01:15:43,960
Speaker 32: that banks are receiving is only five point seven percent

1486
01:15:44,680 --> 01:15:49,280
Speaker 32: by December, you know that shows that the rates will

1487
01:15:49,360 --> 01:15:52,320
Speaker 32: you know, stay stay wee bit elevated five point seven

1488
01:15:52,360 --> 01:15:54,280
Speaker 32: percent is the level that it was at in late

1489
01:15:54,280 --> 01:15:55,080
Speaker 32: twenty twenty three.

1490
01:15:55,200 --> 01:15:58,880
Speaker 3: Wow, that is a really interesting stat Were you surprised

1491
01:15:59,040 --> 01:16:03,240
Speaker 3: the rbn Z still very firm on seventy five basis

1492
01:16:03,240 --> 01:16:04,320
Speaker 3: point cuts this year?

1493
01:16:06,240 --> 01:16:10,040
Speaker 32: Yeah, that it was a little bit more dubbish than

1494
01:16:10,080 --> 01:16:14,160
Speaker 32: it was in November. I think that the bank is

1495
01:16:14,200 --> 01:16:17,200
Speaker 32: worried about the effect that tariffs and some of this

1496
01:16:17,280 --> 01:16:22,160
Speaker 32: sture of political instability will have on GDP growth. It

1497
01:16:22,240 --> 01:16:25,240
Speaker 32: didn't interestingly take a view on the impact tariffs would

1498
01:16:25,240 --> 01:16:27,280
Speaker 32: have on inflation. That was something I was looking out for,

1499
01:16:27,320 --> 01:16:29,360
Speaker 32: but it said that we don't really know and there

1500
01:16:29,360 --> 01:16:32,680
Speaker 32: are quite a few moving parts there. Something else that

1501
01:16:32,720 --> 01:16:35,920
Speaker 32: people will be interested in is it's doesn't think house

1502
01:16:35,920 --> 01:16:38,960
Speaker 32: price growth will recover too much. So it actually thinks

1503
01:16:38,960 --> 01:16:42,719
Speaker 32: house prices annually will will keep falling at the start

1504
01:16:42,760 --> 01:16:46,479
Speaker 32: of this year and then sort of return to single

1505
01:16:46,520 --> 01:16:50,120
Speaker 32: digit growth. So it doesn't believe that lower interest rates

1506
01:16:50,160 --> 01:16:52,760
Speaker 32: will see house prices take off anywhere close to the

1507
01:16:52,800 --> 01:16:54,559
Speaker 32: way they took off during the pandemic.

1508
01:16:54,720 --> 01:16:56,600
Speaker 3: Interesting stuff. Jan I think he was always to know

1509
01:16:56,920 --> 01:16:58,439
Speaker 3: showining with us and he's on the hero of Baldy

1510
01:16:58,479 --> 01:17:01,120
Speaker 3: from Business editor who has all the good numbers nineteen

1511
01:17:01,120 --> 01:17:02,960
Speaker 3: minutes after six here on news Talks here b. It's

1512
01:17:02,960 --> 01:17:05,920
Speaker 3: interesting they also talked about in the in the report

1513
01:17:05,920 --> 01:17:08,400
Speaker 3: that they put out today about you know, with a

1514
01:17:08,400 --> 01:17:12,200
Speaker 3: lower inflash are sure a lower exchange rate, stuff is

1515
01:17:12,560 --> 01:17:16,680
Speaker 3: obviously more expensive for US overseas. It's great for our exporters,

1516
01:17:16,680 --> 01:17:18,639
Speaker 3: but it makes our inputs more expensive, and so there

1517
01:17:18,680 --> 01:17:20,760
Speaker 3: is a risk of petrol prices started to go up

1518
01:17:20,800 --> 01:17:24,240
Speaker 3: as they're expected to. Plus you add your exchange rate,

1519
01:17:24,320 --> 01:17:27,439
Speaker 3: and there's a risk of importing inflation. So there's all

1520
01:17:27,479 --> 01:17:29,040
Speaker 3: these things that they have to balance up. I'm not

1521
01:17:29,120 --> 01:17:31,559
Speaker 3: saying it's an easy job. I think anyone's ever said

1522
01:17:31,560 --> 01:17:33,120
Speaker 3: it's an easy job. But when they get it wrong,

1523
01:17:34,400 --> 01:17:35,920
Speaker 3: we reserve the right to come down on them like

1524
01:17:35,920 --> 01:17:37,799
Speaker 3: a ton of brick. Storme you because it's very bloody

1525
01:17:37,840 --> 01:17:41,240
Speaker 3: expensive to have a mortgage, thank you very much. Twenty

1526
01:17:41,280 --> 01:17:44,000
Speaker 3: after six. Will get reaction from the markets with Milford.

1527
01:17:43,680 --> 01:17:48,120
Speaker 1: Next, everything from SMEs to the big corporates, The Business

1528
01:17:48,120 --> 01:17:52,800
Speaker 1: Hour with Ryan Bridge and Players, Insurance and Investments, Grew

1529
01:17:52,880 --> 01:17:57,160
Speaker 1: your Wealth, Protect Your Future, News Talks v six twenty two.

1530
01:17:57,240 --> 01:18:01,080
Speaker 3: Remy Morgan Milf from Milford is here. Hey, Remy Hi, Ryan,

1531
01:18:01,200 --> 01:18:02,760
Speaker 3: how's it going. You have a really good Thank you,

1532
01:18:02,760 --> 01:18:04,760
Speaker 3: thanks for being on the show with us. How did

1533
01:18:04,800 --> 01:18:07,080
Speaker 3: the market three? Obviously a lot to digesterday We've had

1534
01:18:07,080 --> 01:18:09,280
Speaker 3: company results, but we're the main thing, of course, was

1535
01:18:09,280 --> 01:18:11,320
Speaker 3: the RBNZ. How did the market react?

1536
01:18:12,720 --> 01:18:15,719
Speaker 31: Yeah, so today's Reserve Bank meeting that was the first

1537
01:18:15,920 --> 01:18:18,719
Speaker 31: since November last year, given we've had the summer holiday

1538
01:18:19,000 --> 01:18:22,240
Speaker 31: and the fifty basis point cut today was largely expected

1539
01:18:22,280 --> 01:18:25,400
Speaker 31: and almost fully priced in. So what was actually more

1540
01:18:25,439 --> 01:18:30,280
Speaker 31: interest was the rbn zaid forward track. So this was

1541
01:18:30,400 --> 01:18:33,240
Speaker 31: revised down little, implying that the rate cuts will come

1542
01:18:33,280 --> 01:18:36,879
Speaker 31: in slightly quicker than what was previously expected by the RBNZ.

1543
01:18:37,680 --> 01:18:41,240
Speaker 31: So their track is now forecasting two twenty five basis

1544
01:18:41,240 --> 01:18:43,960
Speaker 31: point cuts by July this year and a cache erate

1545
01:18:44,000 --> 01:18:46,040
Speaker 31: of around three point one percent by the end of

1546
01:18:46,120 --> 01:18:48,519
Speaker 31: the year, which is down from three point five to

1547
01:18:48,520 --> 01:18:52,200
Speaker 31: five percent previously. Now that's actually a lot more closely

1548
01:18:52,240 --> 01:18:55,160
Speaker 31: aligned to what the market had already been pricing in

1549
01:18:55,360 --> 01:18:58,439
Speaker 31: going into the meeting. So because of that, the market

1550
01:18:58,479 --> 01:19:01,679
Speaker 31: reaction was pretty subdue and there was really no major

1551
01:19:01,800 --> 01:19:04,960
Speaker 31: or unexpected moves to call out. Now the next meeting

1552
01:19:06,040 --> 01:19:09,200
Speaker 31: is on the ninth of April and another twenty five

1553
01:19:09,240 --> 01:19:12,400
Speaker 31: basis point cut is essentially fully priced by the market,

1554
01:19:12,640 --> 01:19:15,880
Speaker 31: but what actually happens will depend on the data and

1555
01:19:15,880 --> 01:19:18,719
Speaker 31: what unfolds between now and then.

1556
01:19:19,479 --> 01:19:21,800
Speaker 3: Remy. If we think about what's happening in the US,

1557
01:19:21,880 --> 01:19:24,759
Speaker 3: obviously there's a lot of uncertainty there to what extent

1558
01:19:24,840 --> 01:19:27,439
Speaker 3: that influenced the Reserve Bank's decision today.

1559
01:19:28,720 --> 01:19:31,719
Speaker 31: Yeah, that's a good question. So the US Federal Reserve

1560
01:19:31,840 --> 01:19:34,879
Speaker 31: is currently on pores with its interest rate easing cycle,

1561
01:19:35,240 --> 01:19:38,559
Speaker 31: and this was something that the RBNSI did discuss, as

1562
01:19:38,600 --> 01:19:41,160
Speaker 31: the market is now pricing in less cuts in the

1563
01:19:41,280 --> 01:19:44,280
Speaker 31: US than back at the time of their meeting in November,

1564
01:19:44,880 --> 01:19:48,120
Speaker 31: and this has implications for the currency. We've already seen

1565
01:19:48,160 --> 01:19:50,479
Speaker 31: the New Zealand dollar quite a bit weaker against the

1566
01:19:50,600 --> 01:19:54,280
Speaker 31: US since November. There's also quite a lot of uncertainty

1567
01:19:54,280 --> 01:19:59,200
Speaker 31: around the US tariffs, and the RBNS also discussed these risks. Now,

1568
01:19:59,200 --> 01:20:02,920
Speaker 31: the impact of T restrictions really remains quite uncertain, but

1569
01:20:03,000 --> 01:20:05,200
Speaker 31: it might be something that needs to be factored into

1570
01:20:05,280 --> 01:20:09,160
Speaker 31: future monetary policy responses. Now, these things can take a

1571
01:20:09,160 --> 01:20:10,960
Speaker 31: bit of time to play out, and we'll see the

1572
01:20:11,400 --> 01:20:14,559
Speaker 31: z RB and z respond accordingly, we.

1573
01:20:14,479 --> 01:20:17,040
Speaker 3: Also had the Reserve Bank of Australia use today. How

1574
01:20:17,080 --> 01:20:20,759
Speaker 3: does this contrast with what's happening here in New Zealand.

1575
01:20:22,080 --> 01:20:25,760
Speaker 31: Yes, so yesterday the RBA finally cut its policy rate,

1576
01:20:25,960 --> 01:20:28,920
Speaker 31: but only by twenty five basis points to four point

1577
01:20:28,960 --> 01:20:33,439
Speaker 31: one percent. Now, this was its first cut to this cycle. Now,

1578
01:20:33,479 --> 01:20:35,519
Speaker 31: as we know in New Zealand, we've already been cutting

1579
01:20:35,560 --> 01:20:38,280
Speaker 31: since August last year and from a much higher peak

1580
01:20:38,360 --> 01:20:41,840
Speaker 31: cash rate of five point five percent, And the tone

1581
01:20:41,880 --> 01:20:44,280
Speaker 31: of the RBA implied that there could be a slower

1582
01:20:44,280 --> 01:20:47,200
Speaker 31: pace of rate cuts from here than what the market

1583
01:20:47,240 --> 01:20:50,679
Speaker 31: was pricing, which obviously compares to a slightly faster pace

1584
01:20:50,880 --> 01:20:54,880
Speaker 31: now expected by the rbn Z in New Zealand. Another

1585
01:20:54,960 --> 01:20:58,120
Speaker 31: key difference is that in Australia the labor market remains

1586
01:20:58,240 --> 01:21:03,560
Speaker 31: much tighter, and THERB actually revised down its peak unemployment

1587
01:21:03,600 --> 01:21:06,640
Speaker 31: forecast of four point two percent, which compares to the

1588
01:21:06,680 --> 01:21:11,440
Speaker 31: expectation of five point two percent peak unemployment in New Zealand.

1589
01:21:11,920 --> 01:21:14,360
Speaker 31: So I think based on the current data, it's fair

1590
01:21:14,400 --> 01:21:17,360
Speaker 31: to say that we could see some continued divergence between

1591
01:21:17,360 --> 01:21:20,400
Speaker 31: the easing cycle in New Zealand and Australia. But again,

1592
01:21:20,920 --> 01:21:22,160
Speaker 31: this remains started dependent.

1593
01:21:22,560 --> 01:21:24,519
Speaker 3: Certainly sounds like it, Remy, thank you very much for

1594
01:21:24,560 --> 01:21:26,680
Speaker 3: that. That's Remy Morgan from Milford.

1595
01:21:26,360 --> 01:21:28,880
Speaker 2: Asset Management, Bryan Bridge.

1596
01:21:28,600 --> 01:21:30,800
Speaker 3: Twenty six minutes halfter six here on News Talk ZMB.

1597
01:21:31,000 --> 01:21:33,640
Speaker 3: So you would have heard yesterday this possible sighting of

1598
01:21:33,640 --> 01:21:36,400
Speaker 3: Tom Phillips and his kids, and how many of these

1599
01:21:36,400 --> 01:21:39,080
Speaker 3: have we had? And you think, oh goodness, they might

1600
01:21:39,120 --> 01:21:41,639
Speaker 3: finally get him. By the way, why has no one

1601
01:21:41,640 --> 01:21:45,280
Speaker 3: in New Zealand done a documentary on this? Endlessly fascinating

1602
01:21:45,680 --> 01:21:48,240
Speaker 3: Someone needs to go out and find them, and in

1603
01:21:48,280 --> 01:21:50,320
Speaker 3: fact there's a British film crew coming over.

1604
01:21:50,400 --> 01:21:52,120
Speaker 13: I feel like that might be the hard right, and

1605
01:21:52,160 --> 01:21:54,800
Speaker 13: that might be that the documentarians are all struggling with.

1606
01:21:54,920 --> 01:21:58,240
Speaker 3: No but it's a mystery, right. This is how many

1607
01:21:58,280 --> 01:22:00,479
Speaker 3: podcasts are out there based on Miss Trees. No one

1608
01:22:00,520 --> 01:22:04,120
Speaker 3: ever solves the thing, right, it's the fascination with the mystery, right.

1609
01:22:04,120 --> 01:22:05,560
Speaker 13: All right, say you don't need to find them, You

1610
01:22:05,560 --> 01:22:05,920
Speaker 13: don't need.

1611
01:22:05,920 --> 01:22:07,920
Speaker 3: To find them. You just need to interview the town,

1612
01:22:08,240 --> 01:22:10,519
Speaker 3: get the mayor on, go to the cops, you know

1613
01:22:10,560 --> 01:22:13,479
Speaker 3: what I mean, talk to the dairy owner, all of

1614
01:22:13,520 --> 01:22:15,320
Speaker 3: that stuff. But anyway, a British film crew is coming

1615
01:22:15,360 --> 01:22:17,760
Speaker 3: to it anyway, I'm getting distracted. So the update is

1616
01:22:18,040 --> 01:22:20,800
Speaker 3: they haven't found them. It wasn't them. Police have said

1617
01:22:20,840 --> 01:22:22,720
Speaker 3: that there was a group cited on State Highway for

1618
01:22:22,840 --> 01:22:25,400
Speaker 3: around eight thirty am on Sunday, the sixteenth of February,

1619
01:22:25,479 --> 01:22:27,840
Speaker 3: who were potentially Tom Phillips and his kids. They said

1620
01:22:27,880 --> 01:22:30,400
Speaker 3: they were not received a number of calls from people

1621
01:22:30,439 --> 01:22:32,640
Speaker 3: in the area a person who was part of the

1622
01:22:32,720 --> 01:22:36,519
Speaker 3: group in question, which has since been confirmed it wasn't

1623
01:22:36,520 --> 01:22:38,840
Speaker 3: Tom Phillips and his stry children. So there you go.

1624
01:22:39,439 --> 01:22:41,679
Speaker 3: Someone going to a doco twenty seven up to six.

1625
01:22:42,840 --> 01:22:45,439
Speaker 2: If it's to do with money, it matters to you.

1626
01:22:45,920 --> 01:22:50,760
Speaker 1: The business hour with Ryan Bridge and Mayor's Insurance and investments,

1627
01:22:51,120 --> 01:22:52,960
Speaker 1: grow your wealth, protect your future.

1628
01:22:53,280 --> 01:22:54,120
Speaker 2: News dogs that'd be.

1629
01:22:55,160 --> 01:23:04,400
Speaker 11: The mass baby, just me and a drug like a

1630
01:23:04,560 --> 01:23:05,719
Speaker 11: califon King.

1631
01:23:06,360 --> 01:23:09,559
Speaker 2: We've been breaking you know, twenty far.

1632
01:23:09,439 --> 01:23:12,120
Speaker 3: And away from the seven. You're on news Talk ZMB tonight.

1633
01:23:12,160 --> 01:23:14,719
Speaker 3: It's great to have your company now. Dennis has text

1634
01:23:14,800 --> 01:23:17,320
Speaker 3: us And for those who are outside Auckland, you won't

1635
01:23:17,360 --> 01:23:21,240
Speaker 3: necessarily get this advert that's on the radio at the moment,

1636
01:23:21,280 --> 01:23:23,280
Speaker 3: but here if you are in the city of Sales,

1637
01:23:23,320 --> 01:23:27,320
Speaker 3: you'll hear Wayne Brown placing ads all the way through

1638
01:23:27,360 --> 01:23:29,760
Speaker 3: news Talk ZDB to say I'm running for Maria of

1639
01:23:29,760 --> 01:23:31,920
Speaker 3: Auckland and you should vote for me. And he's done

1640
01:23:31,960 --> 01:23:34,920
Speaker 3: this to time it with his press conference, which was today,

1641
01:23:34,960 --> 01:23:38,120
Speaker 3: which is quite a shrewd thing to do. And Dennis says, Ryan,

1642
01:23:38,200 --> 01:23:40,439
Speaker 3: do we have to listen to Wayne Brown adverts from

1643
01:23:40,439 --> 01:23:44,559
Speaker 3: now all the way until the October election? No, says Dennis,

1644
01:23:44,840 --> 01:23:48,080
Speaker 3: I would think not. I think they're slightly expensive things

1645
01:23:48,120 --> 01:23:50,080
Speaker 3: to purchase. I don't imagine he'll be doing all the

1646
01:23:50,080 --> 01:23:53,479
Speaker 3: way till October. However, I think it's a smart thing

1647
01:23:53,520 --> 01:23:56,639
Speaker 3: to do because if you'll notice this, no matter where

1648
01:23:56,640 --> 01:23:59,080
Speaker 3: you live in New Zealand, you will notice that the

1649
01:23:59,439 --> 01:24:02,800
Speaker 3: he who will the poll wins the election. So what

1650
01:24:02,840 --> 01:24:04,800
Speaker 3: Wayne Brown is doing is getting out ahead of all

1651
01:24:04,800 --> 01:24:07,880
Speaker 3: of the competition. Who are they anyway getting out ahead

1652
01:24:07,880 --> 01:24:10,599
Speaker 3: of all the competitions, cementing his name as the one

1653
01:24:10,680 --> 01:24:13,960
Speaker 3: you vote for early on. Then the polsters come in

1654
01:24:14,080 --> 01:24:15,960
Speaker 3: they say who you're going to vote for? People go, well,

1655
01:24:15,960 --> 01:24:19,400
Speaker 3: there's only one name in town, it's Wayne Brown, and boom,

1656
01:24:19,640 --> 01:24:22,240
Speaker 3: he wins the election, which I think, and it's an

1657
01:24:22,280 --> 01:24:24,720
Speaker 3: easy prediction to make that he will. Twenty four away

1658
01:24:24,720 --> 01:24:29,839
Speaker 3: from seven, Fonterra is advancing its plans for selling off Anchor,

1659
01:24:29,960 --> 01:24:33,080
Speaker 3: Mainland and its other consumer brands. The co op hasn't

1660
01:24:33,280 --> 01:24:36,639
Speaker 3: quite decided whether to sell the brands to another business

1661
01:24:36,680 --> 01:24:38,680
Speaker 3: and a trade sale yet, or whether it'll list them

1662
01:24:38,680 --> 01:24:42,240
Speaker 3: in an IPO. But if there is an IPO, Fonterra

1663
01:24:42,280 --> 01:24:44,559
Speaker 3: has already chosen a name for the new business, which

1664
01:24:44,600 --> 01:24:47,040
Speaker 3: would be Mainland Group, and it's already lined up a

1665
01:24:47,040 --> 01:24:50,240
Speaker 3: potential CEO and CFO. Oliver Amanda is the CEO of

1666
01:24:50,320 --> 01:24:54,599
Speaker 3: the Shareholders Association. He's with me tonight, Hi, Oliver, got it, Ryan,

1667
01:24:54,840 --> 01:24:56,639
Speaker 3: What do you reckon it'll be? Do you reckon trade

1668
01:24:56,640 --> 01:24:57,400
Speaker 3: sale or IPO?

1669
01:24:59,000 --> 01:25:02,080
Speaker 17: Well, certainly this is a New Zealand with institutional or

1670
01:25:02,080 --> 01:25:07,559
Speaker 17: individual investors would really welcome a sale by IPO onto

1671
01:25:07,560 --> 01:25:10,479
Speaker 17: the ins and X. And really, given that the fact

1672
01:25:10,479 --> 01:25:14,720
Speaker 17: that the brands are so well known, that is real,

1673
01:25:14,880 --> 01:25:16,479
Speaker 17: we're real shot in the arm for the inside X.

1674
01:25:16,520 --> 01:25:19,559
Speaker 17: But also because it's so well known, it would probably

1675
01:25:19,600 --> 01:25:22,040
Speaker 17: create a lot of value for Fonterra as well.

1676
01:25:22,920 --> 01:25:26,599
Speaker 3: Yeah, you mentioned the brands are very well known. They're

1677
01:25:26,640 --> 01:25:29,400
Speaker 3: also not just sold here, right, they're sold all over

1678
01:25:29,439 --> 01:25:32,559
Speaker 3: the world. So for if you're talking about investors coming

1679
01:25:32,560 --> 01:25:34,280
Speaker 3: at it from a sheer market point of view, that's

1680
01:25:34,280 --> 01:25:37,360
Speaker 3: got to be attractive. And yeah, absolutely right.

1681
01:25:37,400 --> 01:25:40,439
Speaker 17: So certainly from an investor viewpoint is the fact that

1682
01:25:40,439 --> 01:25:42,559
Speaker 17: the brands are well known here that recognize the strong

1683
01:25:42,600 --> 01:25:44,880
Speaker 17: domestic cash flows here with the New Zealand or at

1684
01:25:44,920 --> 01:25:48,320
Speaker 17: least we're assuming there are. But also there's that opportunity

1685
01:25:48,360 --> 01:25:51,680
Speaker 17: for growth from an international market, and I think from

1686
01:25:51,680 --> 01:25:53,880
Speaker 17: a New Zealand Inc. Perspective, from from a broader New

1687
01:25:53,960 --> 01:25:57,400
Speaker 17: Zealand perspective. That's why it's almost really important that actually

1688
01:25:57,439 --> 01:26:01,040
Speaker 17: that this does become an IPO on the insidets owned

1689
01:26:01,439 --> 01:26:05,519
Speaker 17: by New Zealand investors, because then you've got Fonterra strategy

1690
01:26:05,520 --> 01:26:08,000
Speaker 17: playing out and I've talked about that being before, about

1691
01:26:08,000 --> 01:26:13,600
Speaker 17: being very manufacturing focused wholesale or supply chain business, and

1692
01:26:13,640 --> 01:26:16,160
Speaker 17: then you get that real long term value that's that's

1693
01:26:16,200 --> 01:26:17,960
Speaker 17: brought about by investment in brands.

1694
01:26:18,400 --> 01:26:21,560
Speaker 3: I suppose you would say that's been when the shareholders Association,

1695
01:26:22,840 --> 01:26:23,639
Speaker 3: I mean, you.

1696
01:26:23,600 --> 01:26:26,040
Speaker 17: Could argue that, but I think this also comes down

1697
01:26:26,040 --> 01:26:28,479
Speaker 17: to where the best value is for Voluntierra. And look,

1698
01:26:28,520 --> 01:26:31,799
Speaker 17: I think individual investors and institutional New Zealand based investors

1699
01:26:32,400 --> 01:26:34,720
Speaker 17: would would probably pay a premium to get hold of

1700
01:26:34,720 --> 01:26:37,920
Speaker 17: a really high performing asset compared to what a private

1701
01:26:37,960 --> 01:26:40,760
Speaker 17: equity or a trade trade sale for the sorts of

1702
01:26:40,760 --> 01:26:41,959
Speaker 17: returns that they'd be looking.

1703
01:26:41,720 --> 01:26:44,160
Speaker 3: For and which it could also mean that it goes

1704
01:26:44,200 --> 01:26:46,559
Speaker 3: offshore as well, right the ownership, which would be not

1705
01:26:46,640 --> 01:26:47,280
Speaker 3: great for us.

1706
01:26:48,080 --> 01:26:50,320
Speaker 17: And that's absolutely right. So from New Zealand think perspective,

1707
01:26:50,360 --> 01:26:52,240
Speaker 17: as I said, I mean, this is really about trying

1708
01:26:52,240 --> 01:26:54,639
Speaker 17: to preserve as much value as we can in New Zealand.

1709
01:26:54,960 --> 01:26:58,360
Speaker 17: So Fonterra strategy is all about trying to really sweat

1710
01:26:58,360 --> 01:27:02,360
Speaker 17: that manufacturing supply chain process. That's great for them. But

1711
01:27:02,400 --> 01:27:04,479
Speaker 17: then from a New Zealand perspective, let's try to preserve

1712
01:27:04,520 --> 01:27:07,000
Speaker 17: that long term value in the brands and mainland group

1713
01:27:07,000 --> 01:27:07,759
Speaker 17: as it's proposed.

1714
01:27:07,800 --> 01:27:09,080
Speaker 2: Actually that would do.

1715
01:27:09,040 --> 01:27:12,200
Speaker 17: That, That would preserve value for investors and create longer

1716
01:27:12,280 --> 01:27:13,720
Speaker 17: term value for New Zealand inc.

1717
01:27:14,320 --> 01:27:16,720
Speaker 3: Oliver, what do we know about the potential CEO and

1718
01:27:16,800 --> 01:27:19,720
Speaker 3: CFO and is it unusual before they've even decided how

1719
01:27:19,720 --> 01:27:21,560
Speaker 3: they'll sell it or whether they'll do an IPO to

1720
01:27:22,000 --> 01:27:22,960
Speaker 3: sort of sound some.

1721
01:27:23,040 --> 01:27:27,200
Speaker 17: Out I don't think it's particularly unusual. I mean, what

1722
01:27:27,200 --> 01:27:29,280
Speaker 17: you've got here is a leadership to the emergence of

1723
01:27:29,280 --> 01:27:32,639
Speaker 17: a leadership team. If you're trying to promote an IPO

1724
01:27:32,680 --> 01:27:36,559
Speaker 17: into the market, actually getting getting that leadership team introduced

1725
01:27:36,560 --> 01:27:39,120
Speaker 17: to potential investors is actually a really good idea and

1726
01:27:39,520 --> 01:27:41,559
Speaker 17: certain that the blend that you have here, you know,

1727
01:27:42,960 --> 01:27:47,280
Speaker 17: a long term volunteer employee, someone who is someone who

1728
01:27:47,280 --> 01:27:50,800
Speaker 17: the business has grown themselves into having the right capability

1729
01:27:50,800 --> 01:27:53,479
Speaker 17: that's needed for that business, and then also bringing in

1730
01:27:54,960 --> 01:27:57,639
Speaker 17: the right blend of external experience and that can provide

1731
01:27:57,640 --> 01:28:00,880
Speaker 17: a fresh perspective and that's what's proposed And Paul Victor,

1732
01:28:01,960 --> 01:28:03,800
Speaker 17: so no, look, I don't think it's particularly unusual. I

1733
01:28:03,800 --> 01:28:05,720
Speaker 17: think it's good for the market. It's good for the

1734
01:28:05,720 --> 01:28:08,080
Speaker 17: company to go out and introduce the people who become

1735
01:28:08,200 --> 01:28:12,120
Speaker 17: really important to investors as this business comes on to

1736
01:28:12,200 --> 01:28:12,919
Speaker 17: the stock exchange.

1737
01:28:12,960 --> 01:28:14,880
Speaker 3: Good stuff, Oliver, thank you very much for that. Great

1738
01:28:14,880 --> 01:28:16,439
Speaker 3: to have you on the show. Oliver. Amanda the New

1739
01:28:16,520 --> 01:28:20,120
Speaker 3: Zealand shareholders Association's CEO. Just for the record, it's Renee

1740
01:28:20,320 --> 01:28:23,760
Speaker 3: Didonka who is the CEO elect for Mainland Group. And

1741
01:28:23,800 --> 01:28:27,560
Speaker 3: Paul Victor has been named by Fonterra as the CFO

1742
01:28:27,760 --> 01:28:30,960
Speaker 3: elect for Mainland Group. You're on News Talk CB. It

1743
01:28:31,000 --> 01:28:33,519
Speaker 3: is twenty away from seven. We've still got to get

1744
01:28:33,560 --> 01:28:35,360
Speaker 3: to London, Gavin Gray standing.

1745
01:28:35,080 --> 01:28:37,760
Speaker 2: By encroaching the numbers and getting the results.

1746
01:28:38,000 --> 01:28:42,120
Speaker 1: It's Ryan Bridge with the Business Hour and MAS Insurance

1747
01:28:42,200 --> 01:28:43,000
Speaker 1: and Investments.

1748
01:28:43,320 --> 01:28:46,680
Speaker 2: Grew your wealth, Protect your future the Newstalks EDB.

1749
01:28:47,840 --> 01:28:51,240
Speaker 3: Seventeen to seven on News Talks EDB. So good text

1750
01:28:51,240 --> 01:28:53,559
Speaker 3: here actually from one of our listeners. The shareholders have

1751
01:28:53,680 --> 01:28:55,720
Speaker 3: not even voted on any of this yet. This is

1752
01:28:55,760 --> 01:29:00,120
Speaker 3: the potential IPO of what they would like to call

1753
01:29:00,160 --> 01:29:04,480
Speaker 3: Mainland Group. This is Fonterra selling off its consumer businesses.

1754
01:29:04,800 --> 01:29:06,559
Speaker 3: They'll either do it by a trade sale or they'll

1755
01:29:06,560 --> 01:29:09,000
Speaker 3: either do it by an IPO. This we just had

1756
01:29:09,040 --> 01:29:11,960
Speaker 3: an interview with the Shareholders Association. This listener pointing out

1757
01:29:12,200 --> 01:29:14,439
Speaker 3: the shareholders have not even voted on any of this,

1758
01:29:14,560 --> 01:29:17,240
Speaker 3: and I doubt whether the shareholders would vote yes to

1759
01:29:17,320 --> 01:29:19,920
Speaker 3: an IPO. It's a good point they have not voted

1760
01:29:19,920 --> 01:29:23,200
Speaker 3: on it yet. All that's happened is that Fonterra has

1761
01:29:23,240 --> 01:29:26,280
Speaker 3: put out a basically a message to the markets and

1762
01:29:26,360 --> 01:29:29,280
Speaker 3: to the media to say, hey, we're looking at one

1763
01:29:29,320 --> 01:29:31,040
Speaker 3: of these two options. We're not quite sure which one

1764
01:29:31,040 --> 01:29:35,240
Speaker 3: will do yet. Over in the States, and Zelensky has

1765
01:29:35,280 --> 01:29:37,080
Speaker 3: been trying to do this for a very long time,

1766
01:29:38,040 --> 01:29:40,799
Speaker 3: with both with Biden and but now particularly with Trump,

1767
01:29:41,080 --> 01:29:45,679
Speaker 3: get him interested in backing Ukraine and keeping Russia at bay.

1768
01:29:46,479 --> 01:29:49,800
Speaker 3: And Lindsey Graham, who's obviously a Republican over in the

1769
01:29:49,840 --> 01:29:53,720
Speaker 3: United States and a good friend of Trump's, he has

1770
01:29:53,800 --> 01:29:56,759
Speaker 3: been trying to use a specific tool to get Trump's

1771
01:29:56,760 --> 01:30:00,000
Speaker 3: attention when it comes to Ukraine, and that tool is money,

1772
01:30:00,600 --> 01:30:03,639
Speaker 3: two things Trump loves very much. So there's a report

1773
01:30:03,640 --> 01:30:07,519
Speaker 3: from Politico in which it and actually Lindsay Graham has

1774
01:30:07,560 --> 01:30:09,040
Speaker 3: gone on record in the last couple of days to

1775
01:30:09,040 --> 01:30:13,839
Speaker 3: talk about this. Ukraine is sitting on US ten trillion

1776
01:30:13,920 --> 01:30:18,080
Speaker 3: dollars plus of minerals. Now I can tell you what

1777
01:30:18,120 --> 01:30:23,280
Speaker 3: type of minerals. Twenty two of the fifty materials that

1778
01:30:23,360 --> 01:30:26,080
Speaker 3: the US has identified as critical. You know how we

1779
01:30:26,080 --> 01:30:29,000
Speaker 3: have a critical minerals list, Well, the US has one two.

1780
01:30:29,040 --> 01:30:31,720
Speaker 3: There are fifty materials on it, and twenty two are

1781
01:30:31,720 --> 01:30:34,559
Speaker 3: sitting under Ukraine right now, worth close to twelve billion

1782
01:30:34,640 --> 01:30:40,360
Speaker 3: US dollars. It's a lot of money. We're talking graphite, lithium, titanium, uranium,

1783
01:30:40,439 --> 01:30:46,160
Speaker 3: things I can't pronounce anyway, Lindsey Graham really wants Trump

1784
01:30:46,479 --> 01:30:49,320
Speaker 3: to focus on that when he's thinking about the security

1785
01:30:49,360 --> 01:30:49,839
Speaker 3: of Ukraine.

1786
01:30:49,840 --> 01:30:52,760
Speaker 34: Have a listen so you can talk about democracy. And

1787
01:30:52,800 --> 01:30:56,800
Speaker 34: people love talking about democracy here, which is this great

1788
01:30:56,800 --> 01:30:59,120
Speaker 34: to talk about democracy. But where were you in twenty

1789
01:30:59,160 --> 01:31:03,759
Speaker 34: fourteen and they actually needed you. So Trump now sees

1790
01:31:04,120 --> 01:31:06,560
Speaker 34: Ukraine differently.

1791
01:31:06,160 --> 01:31:07,160
Speaker 3: Because of the rarest stuff.

1792
01:31:07,320 --> 01:31:09,200
Speaker 15: Oh I got I said.

1793
01:31:10,439 --> 01:31:11,000
Speaker 28: Playing over.

1794
01:31:11,439 --> 01:31:16,200
Speaker 34: These people are sitting on literally a gold mine.

1795
01:31:15,600 --> 01:31:19,920
Speaker 3: So he's just saying, look, you you support them, you

1796
01:31:20,000 --> 01:31:24,240
Speaker 3: back them and secure them, and you can sign a

1797
01:31:24,240 --> 01:31:26,240
Speaker 3: deal and get some of the they want fifty percent

1798
01:31:26,280 --> 01:31:29,840
Speaker 3: of the mineral wealth of Ukraine. And the thing is,

1799
01:31:31,280 --> 01:31:34,080
Speaker 3: it's sort of it makes sense, right if you are

1800
01:31:34,160 --> 01:31:36,759
Speaker 3: Russia and you're sitting on the you know, the border

1801
01:31:36,800 --> 01:31:39,840
Speaker 3: between you, You've decided to draw a line wherever it is

1802
01:31:39,880 --> 01:31:43,880
Speaker 3: which for your ceasefire agreement, and the Americans have a

1803
01:31:44,040 --> 01:31:48,240
Speaker 3: huge financial interest in the land across the border. Then

1804
01:31:48,400 --> 01:31:51,320
Speaker 3: you know, you're kind of walking on eggshells, aren't you.

1805
01:31:51,400 --> 01:31:54,000
Speaker 3: So there was method to the madness. There is logic there.

1806
01:31:54,040 --> 01:31:57,280
Speaker 3: It's just gone fourteen minutes away from seven News talk set.

1807
01:31:57,320 --> 01:32:01,520
Speaker 3: Bryan Vin Grays are UK correspond for more on Ukraine.

1808
01:32:01,960 --> 01:32:05,680
Speaker 3: The EU countries preparing a military aid package the hi

1809
01:32:05,800 --> 01:32:07,960
Speaker 3: Gevin Hi there ran.

1810
01:32:08,160 --> 01:32:11,439
Speaker 27: Yes, those are the unconfirmed reports, not just then in

1811
01:32:11,520 --> 01:32:17,479
Speaker 27: military package, a huge military package roughly eleven billion New

1812
01:32:17,560 --> 01:32:22,640
Speaker 27: Zealand dollars billion, three EU diplomats being quoted saying the

1813
01:32:22,680 --> 01:32:25,639
Speaker 27: package would mark one of the blocks largest military aid

1814
01:32:25,720 --> 01:32:30,360
Speaker 27: deals since the full scale invasion of Ukraine by Russia.

1815
01:32:30,439 --> 01:32:32,679
Speaker 27: And it looks like EU ministers are going to meet

1816
01:32:32,960 --> 01:32:36,479
Speaker 27: potentially next week in Brussels, but unclear whether this deal

1817
01:32:36,560 --> 01:32:39,400
Speaker 27: will be approved as a whole or even just backed

1818
01:32:39,400 --> 01:32:42,840
Speaker 27: by a coalition of willing countries. I'm afraid that emergency

1819
01:32:42,920 --> 01:32:48,240
Speaker 27: summit that the EU leaders held hastily panics about why

1820
01:32:48,240 --> 01:32:53,839
Speaker 27: they hadn't been involved to that initial Russia US meeting

1821
01:32:54,280 --> 01:32:57,679
Speaker 27: in the Middle East, well, I'm afraid it didn't yield

1822
01:32:57,840 --> 01:33:00,600
Speaker 27: very much. But perhaps it did you and something that

1823
01:33:00,640 --> 01:33:02,720
Speaker 27: we didn't find out at the time, which is this

1824
01:33:02,880 --> 01:33:07,360
Speaker 27: gathering too effectively put together this massive military package. But

1825
01:33:07,439 --> 01:33:11,280
Speaker 27: again not confirmed yet, but the divergence of used by

1826
01:33:11,320 --> 01:33:14,839
Speaker 27: European leaders playing for all to see with Germany's Chancellor

1827
01:33:14,880 --> 01:33:17,479
Speaker 27: all Our Schultz saying the discussion about troops on the

1828
01:33:17,479 --> 01:33:21,360
Speaker 27: ground was completely premature and saying he was slightly irritated

1829
01:33:21,360 --> 01:33:22,040
Speaker 27: by the whole thing.

1830
01:33:22,160 --> 01:33:25,200
Speaker 3: Oh really, in referring to Starmer's check.

1831
01:33:26,439 --> 01:33:28,720
Speaker 27: Yeah, and referring to the fact that France as well

1832
01:33:28,800 --> 01:33:32,360
Speaker 27: seems to be veering in a more hawkish, bullish line

1833
01:33:32,600 --> 01:33:33,759
Speaker 27: than the rest of the EU.

1834
01:33:34,200 --> 01:33:36,360
Speaker 3: Well, of course all the Schultz has got problems back.

1835
01:33:36,840 --> 01:33:38,960
Speaker 3: They're going to the polls and the days, aren't they.

1836
01:33:38,960 --> 01:33:41,160
Speaker 3: So it's a bit hard to find out, I suppose

1837
01:33:41,160 --> 01:33:44,639
Speaker 3: what is exactly what they're thinking in a cohesive way.

1838
01:33:44,760 --> 01:33:45,679
Speaker 3: How's the pope going?

1839
01:33:45,720 --> 01:33:51,040
Speaker 27: Given Yeah, we now learned that the Pope has pneumonia

1840
01:33:51,160 --> 01:33:56,160
Speaker 27: in both lungs, which is really extremely serious. So at

1841
01:33:56,200 --> 01:33:59,360
Speaker 27: the moment we do know that all the events that

1842
01:33:59,439 --> 01:34:01,280
Speaker 27: were planned and all the things that the Pope was

1843
01:34:01,360 --> 01:34:04,320
Speaker 27: due to attend for the end of this week and

1844
01:34:04,360 --> 01:34:08,280
Speaker 27: indeed into the weekend and over the weekend, that has

1845
01:34:08,400 --> 01:34:12,240
Speaker 27: all been canceled. Others have been lined up to take

1846
01:34:12,280 --> 01:34:16,000
Speaker 27: his spot, as it were, and to fulfill those engagements.

1847
01:34:16,000 --> 01:34:19,639
Speaker 27: But yeah, extremely serious for the Pope. The eighty eight

1848
01:34:19,720 --> 01:34:23,640
Speaker 27: yard Pontiff as well known as having problems with his

1849
01:34:23,760 --> 01:34:26,519
Speaker 27: lungs and of poor health. But this is I think

1850
01:34:26,560 --> 01:34:29,280
Speaker 27: the most serious update that we've had since he went

1851
01:34:29,320 --> 01:34:30,679
Speaker 27: to hospital back on Friday.

1852
01:34:31,400 --> 01:34:33,759
Speaker 3: Hopefully he's all right. I'm sure there are many people

1853
01:34:33,760 --> 01:34:36,759
Speaker 3: around the world praying for him. A teeny tiny house

1854
01:34:37,080 --> 01:34:39,479
Speaker 3: is just a we have them here at teeny tiny

1855
01:34:39,479 --> 01:34:41,840
Speaker 3: homes we call them in Cornwall. How much are they

1856
01:34:41,880 --> 01:34:43,240
Speaker 3: asking for this tiny home?

1857
01:34:44,640 --> 01:34:47,720
Speaker 27: Well, an unbelievable some of money. Let me give you

1858
01:34:47,760 --> 01:34:50,040
Speaker 27: some figures. It's down in Cornwall, which is down in

1859
01:34:50,080 --> 01:34:53,160
Speaker 27: the extreme southwest of England, and it's a small house.

1860
01:34:53,200 --> 01:34:56,439
Speaker 27: It's even called the Dolls House in porth leaven in Cornwall,

1861
01:34:56,640 --> 01:35:01,080
Speaker 27: and it was really built between two full sized detach houses.

1862
01:35:01,160 --> 01:35:04,559
Speaker 27: It's basically in an alleyway and was built on it's

1863
01:35:04,600 --> 01:35:10,360
Speaker 27: one bedroom. It is only ninety centimeters wide in places

1864
01:35:11,200 --> 01:35:14,920
Speaker 27: and have a total square footage area on the first

1865
01:35:14,960 --> 01:35:18,200
Speaker 27: floor of fourteen point eight square meters that's one hundred

1866
01:35:18,200 --> 01:35:21,360
Speaker 27: and fifty nine square feet ground four slightly bigger one

1867
01:35:21,439 --> 01:35:24,519
Speaker 27: hundred and eighty square feet sixteen point seven square meters

1868
01:35:24,920 --> 01:35:28,840
Speaker 27: and it's up for sale for about five hundred and

1869
01:35:28,880 --> 01:35:33,360
Speaker 27: fifty thousand new Zealand dollars. It does have the most

1870
01:35:33,400 --> 01:35:36,920
Speaker 27: amazing view, but there isn't much room to sit and

1871
01:35:36,960 --> 01:35:39,439
Speaker 27: admire it. You've got to tilt your seat into one

1872
01:35:39,479 --> 01:35:42,799
Speaker 27: particular position. But despite it coming up for sale, despite

1873
01:35:42,800 --> 01:35:46,080
Speaker 27: a very quirky design and shape, squeezed in this alleyway,

1874
01:35:46,120 --> 01:35:49,200
Speaker 27: as I mentioned, between two other buildings, it has the

1875
01:35:49,240 --> 01:35:52,400
Speaker 27: most outstanding views of the Lizard Peninsula out over the

1876
01:35:52,439 --> 01:35:57,799
Speaker 27: coast and unspoilt terrain. But yeah, whether you'd be prepared

1877
01:35:57,800 --> 01:36:00,479
Speaker 27: to give it that much money just as somewhere to

1878
01:36:00,560 --> 01:36:03,960
Speaker 27: live or maybe a getaway for the weekend, well, I

1879
01:36:04,200 --> 01:36:05,679
Speaker 27: know it seems an awful lot to.

1880
01:36:05,560 --> 01:36:09,080
Speaker 3: Me, certainly does Gavin for such a tiny, teeny tiny

1881
01:36:09,120 --> 01:36:12,240
Speaker 3: little bit of land as well. Gavin Gray are UK correspondent.

1882
01:36:12,240 --> 01:36:14,360
Speaker 3: Thanks for being with us. It is ten away from

1883
01:36:14,479 --> 01:36:17,599
Speaker 3: seven on News Talk ZIBB coming up next. I don't

1884
01:36:17,600 --> 01:36:19,680
Speaker 3: want to bore you with the headline, so maybe I

1885
01:36:19,680 --> 01:36:23,000
Speaker 3: shouldn't say the headline. Just don't say the headline. I'll

1886
01:36:23,000 --> 01:36:25,320
Speaker 3: read it for you. The implications of global tariffs for

1887
01:36:25,360 --> 01:36:27,759
Speaker 3: the New Zealand economy. All right, that's from the Reserve

1888
01:36:27,800 --> 01:36:31,680
Speaker 3: Bank Monetary policy statement from today. I'll get to that

1889
01:36:31,760 --> 01:36:33,760
Speaker 3: next for you, because there's some interesting tidbits in there

1890
01:36:33,800 --> 01:36:36,080
Speaker 3: which I do think you will be interested in. We're

1891
01:36:36,120 --> 01:36:39,240
Speaker 3: also going to get to the song that will get

1892
01:36:39,320 --> 01:36:42,240
Speaker 3: us out this evening answer standing by with that, so

1893
01:36:42,280 --> 01:36:44,640
Speaker 3: perhaps actually to make it a little more light, we

1894
01:36:44,680 --> 01:36:48,160
Speaker 3: could sing the implications of global tariffs for the New

1895
01:36:48,200 --> 01:36:50,400
Speaker 3: Zealand economy. When we come back News Talk SIBB.

1896
01:36:51,600 --> 01:36:55,080
Speaker 1: It's the Heather Tuplicy Allan Drive Full Show podcast on

1897
01:36:55,280 --> 01:36:57,919
Speaker 1: iHeartRadio powered by News Talk ZEBB.

1898
01:37:00,040 --> 01:37:02,880
Speaker 3: Even on News Talk ZVB. So the Reserve Bank today

1899
01:37:02,920 --> 01:37:05,360
Speaker 3: and its monetary policy statement gave us a little update

1900
01:37:05,600 --> 01:37:09,400
Speaker 3: on the potential impact of tariffs for New Zealand and

1901
01:37:09,439 --> 01:37:12,360
Speaker 3: for our economy, but also for the world's economy. So

1902
01:37:12,439 --> 01:37:14,200
Speaker 3: this is, if Trump goes ahead with his tariffs, there

1903
01:37:14,200 --> 01:37:17,360
Speaker 3: will be a larger negative impact on economic growth and

1904
01:37:17,400 --> 01:37:20,679
Speaker 3: more inflationary pressure in the country that imposes the tariffs.

1905
01:37:20,680 --> 01:37:23,160
Speaker 3: So that obviously makes sense, right because it's those consumers

1906
01:37:23,200 --> 01:37:26,160
Speaker 3: that end up paying it. Similarly, they say there will

1907
01:37:26,200 --> 01:37:28,479
Speaker 3: be a larger negative impact on economic growth in the

1908
01:37:28,520 --> 01:37:32,320
Speaker 3: tariff targeted country, So basically there will be an effect

1909
01:37:33,040 --> 01:37:35,479
Speaker 3: reduced economic growth in America, but there would also be

1910
01:37:35,520 --> 01:37:39,839
Speaker 3: reduced economic growth in Mexico or Canada or China for example.

1911
01:37:40,120 --> 01:37:42,040
Speaker 3: And what does that mean when you start talking about

1912
01:37:42,120 --> 01:37:44,799
Speaker 3: less growth in countries like that, It means global growth

1913
01:37:45,400 --> 01:37:49,680
Speaker 3: is down. It means more inflation in the US. And

1914
01:37:49,720 --> 01:37:51,600
Speaker 3: when there's inflation in the US, it's never good for

1915
01:37:51,600 --> 01:37:55,599
Speaker 3: the global economy. But what does that mean for US? Well,

1916
01:37:55,600 --> 01:37:57,679
Speaker 3: there's two ways that we can be affected by tariffs.

1917
01:37:57,760 --> 01:38:00,240
Speaker 3: One is directly, and at the moment it looks like

1918
01:38:00,360 --> 01:38:02,720
Speaker 3: I mean, we've had some steel and aluminium, but at

1919
01:38:02,720 --> 01:38:04,840
Speaker 3: the moment we're kind of hoping to get off scot free.

1920
01:38:04,960 --> 01:38:07,320
Speaker 3: Maybe maybe we'll get slapped with a general ten percent.

1921
01:38:08,880 --> 01:38:12,120
Speaker 3: But at China, all those other big players that will

1922
01:38:12,120 --> 01:38:14,679
Speaker 3: affect us, and that's according to the Reserve Bank, where

1923
01:38:14,680 --> 01:38:17,960
Speaker 3: we will be most affected as indirectly. So if China

1924
01:38:18,000 --> 01:38:21,040
Speaker 3: gets hit, China gets weak, we sell a lot to China.

1925
01:38:21,280 --> 01:38:23,840
Speaker 3: That is bad for US. News talks B five Away

1926
01:38:23,880 --> 01:38:25,639
Speaker 3: from seven and it's what are we going out.

1927
01:38:25,560 --> 01:38:28,559
Speaker 13: To Wildflower by Billy Eilish to play us out tonight?

1928
01:38:28,760 --> 01:38:31,639
Speaker 13: Billy Eilish is touring in Australia at the moment and

1929
01:38:31,720 --> 01:38:33,640
Speaker 13: you know, skipping us, But that's okay. We're over that,

1930
01:38:34,479 --> 01:38:36,720
Speaker 13: and some fans aren't terribly happy at how much the

1931
01:38:36,800 --> 01:38:40,000
Speaker 13: merch is costing. So this is all in Australian dollars,

1932
01:38:40,080 --> 01:38:42,639
Speaker 13: So add maybe like five to twenty dollars to these.

1933
01:38:42,680 --> 01:38:46,760
Speaker 13: But a blue canvas belt fifty bucks, a necklace one

1934
01:38:46,840 --> 01:38:50,439
Speaker 13: hundred and twenty bucks. Boxes you can get Billy Eilish

1935
01:38:50,479 --> 01:38:53,240
Speaker 13: boxes at the concert if you're running short on underwear

1936
01:38:53,280 --> 01:38:54,880
Speaker 13: and you sort of want some, So those are those

1937
01:38:54,880 --> 01:38:57,960
Speaker 13: are fifty bucks or three for ninety so you can

1938
01:38:57,960 --> 01:38:59,760
Speaker 13: save a bit there if you're buying. But I mean,

1939
01:38:59,760 --> 01:39:01,479
Speaker 13: you know you're gonna go through a few sets.

1940
01:39:01,240 --> 01:39:01,719
Speaker 15: Aren't you.

1941
01:39:01,760 --> 01:39:04,160
Speaker 13: And then the most expensive one though a hoodie. A

1942
01:39:04,200 --> 01:39:07,000
Speaker 13: to a hoodie two hundred and twenty Australian dollars from

1943
01:39:07,040 --> 01:39:10,360
Speaker 13: Billie Eilishes. That's two hundred and forty five New Zealand dollars.

1944
01:39:10,400 --> 01:39:13,360
Speaker 13: I've been to concerts where the ticket was much less

1945
01:39:13,439 --> 01:39:13,800
Speaker 13: than that.

1946
01:39:13,840 --> 01:39:15,280
Speaker 3: What's the tiff on the hoodies?

1947
01:39:15,360 --> 01:39:18,719
Speaker 13: Well, it's not in the basket of goods and services

1948
01:39:18,720 --> 01:39:19,719
Speaker 13: they look at for the inflation.

1949
01:39:21,680 --> 01:39:23,920
Speaker 3: Nice one as I did promise I'd singing something, but

1950
01:39:24,479 --> 01:39:27,280
Speaker 3: I lied. I lied. See you tomorrow.

1951
01:39:48,520 --> 01:40:26,439
Speaker 28: Do you see in the back of your mind.

1952
01:40:37,120 --> 01:40:45,280
Speaker 1: Welcome For more from Hither Duplessy Allen Drive, listen live

1953
01:40:45,360 --> 01:40:48,240
Speaker 1: to news talks it'd be from four pm weekdays, or

1954
01:40:48,280 --> 01:40:50,320
Speaker 1: follow the podcast on iHeartRadio