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Speaker 1: The only drive show you can trust to ask the questions,

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Speaker 1: get the answers by the facts and give the analysis.

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Speaker 1: Jack Tame On, Heather Dupless the Elan Drive with one

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

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Speaker 2: Be Sheldon, New Zealand. Good afternoon, Jack Tame with you

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Speaker 2: and for Heather on Drive this week big show after

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Speaker 2: five o'clock take you for the very latest out of Lebanon.

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Speaker 2: The Israeli Defense Force the IDF, confirming they have started

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Speaker 2: what they say are for the time being at least

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Speaker 2: small scale ground invasion into some towns and communities in

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Speaker 2: the southern part of Lebanon. The air strikes are continuing

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Speaker 2: not only in Lebanon but also in Syria, so we're

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Speaker 2: going to get the very latest on that as well

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Speaker 2: as that. Of course, the decision from the Commerce Commission

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Speaker 2: today turning down the proposal to merge the North Island

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Speaker 2: and South Island arms of food Stuffs, So what does

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Speaker 2: it mean? Is it over yet? Could we expect to

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Speaker 2: see some high court action? I suspect, So we will

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Speaker 2: take you to food Stuff's North Island CEO after five.

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Speaker 2: Right now it is eight minutes past.

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Speaker 3: Four, team, So if you're in a bit of a.

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Speaker 2: Rush yesterday and I don't know, maybe somehow you got

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Speaker 2: caught out by daylight saving or you were scrambling to

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Speaker 2: get to an appointment and you forgot to put money

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Speaker 2: in the meter before rushing off. You would have been

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Speaker 2: fined for your errand parking forty dollars, right, forty bucks.

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Speaker 2: But if you did the same thing today, exactly the

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Speaker 2: same thing, parked in the wrong place, didn't put money

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Speaker 2: in the meter, didn't use the app exactly the same offense,

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Speaker 2: you would be fined seventy dollars. Almost double. Parking fines

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Speaker 2: are up for the first time in twenty years, and

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Speaker 2: errant parkers will be parkers will be facing stricter penalties

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Speaker 2: right across the board. I think the single highest parking

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Speaker 2: fine as it stands is for parking in a disabled

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Speaker 2: spot seven hundred and fifty. Now, look, I don't have

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Speaker 2: an issue with the higher fines. If you don't want

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Speaker 2: to be fined, pay for your parking. It's pretty simple

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Speaker 2: as far as I'm concerned. But despite supporting higher fines,

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Speaker 2: Auckland Mayor Wayne Brown isn't happy with the new regime.

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Speaker 2: He takes issue with the fact that fines are still

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Speaker 2: set by central government under the Land Transport Act rather

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Speaker 2: than by local councils. And honestly, I think he's got

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Speaker 2: a really good point. I mean, it might seem like

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Speaker 2: a trivial subject, right, Parking finds might seem like a

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Speaker 2: relatively trivial focus for a government or council. It just

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Speaker 2: seems absurd to me that, for all the talk about localism,

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Speaker 2: councils are still relying on an edict from Wellington to

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Speaker 2: set their parking fines. I mean, if a council can't

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Speaker 2: be relied or relied on to set appropriate parking fines

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Speaker 2: for its jurisdiction, how on earth can we expect it

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Speaker 2: to manage balance sheet? Can we expect it to manage

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Speaker 2: consenting or complex infrastructure planning? And Wayne Brown's quite right,

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Speaker 2: there is no reason that finds in congested big city

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Speaker 2: centers should be the same as parking finds on the

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Speaker 2: main street of a regional town. That just makes no sense.

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Speaker 2: Central government says it wants local councils to be focused

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Speaker 2: on the basics. Surely setting parking fines within its own

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Speaker 2: jurisdiction qualifies as a.

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Speaker 3: Basic Heather Duplicllen.

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Speaker 2: Ninety two ninety two is our text number if you

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Speaker 2: want to get in touch. JACKETEWSTALKSZB dot co dot nz

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Speaker 2: is my email address. New Zealand has just recorded its

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Speaker 2: highest number of credit card applications since twenty twenty one.

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Speaker 2: Credit card arears are also on the rise, up to

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Speaker 2: four point four percent in August. Financial hardship cases are

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Speaker 2: up a quarter for almost a quarter year on year,

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Speaker 2: and twenty nine percent of those cases relate to credit

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Speaker 2: card debt. Tom Hartman is the personal finance lead. It

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Speaker 2: sort it ends with us this afternoon.

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Speaker 4: Kyoto, Tom, kyoda, Great to be with you, Jack.

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Speaker 2: What do you put this down to?

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Speaker 4: Well, I think we're headed like cost of living is

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Speaker 4: still is still biding. These are still really tough times

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Speaker 4: and now we're heading towards what I to call the

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Speaker 4: Bermuda triangle of family finance, which is Christmas, the holidays

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Speaker 4: and then back to school. And so we're seeing all

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Speaker 4: these costs coming at us at the moment, and one

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Speaker 4: way to cope with them is to borrow our way

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Speaker 4: through it on credit cards.

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Speaker 2: Yeah, why is it so bad right now? The cost

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Speaker 2: of living has been an issue for some time Now,

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Speaker 2: what do you think it is about this time in

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Speaker 2: particular that is leading to such a surge and credit cards.

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Speaker 4: Well, if you look at hardship, what that centric report

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Speaker 4: is telling us is that it's really more than ever

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Speaker 4: difficult for people to get by these days. And there

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Speaker 4: are a couple lot of bills that have maybe maybe

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Speaker 4: piled up from power, from from kids, sports fees. It

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Speaker 4: could be, it could be many different situations and you know,

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Speaker 4: this is just one way to get through it.

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Speaker 2: Yeah, it's interesting to break down the numbers. The age

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Speaker 2: group experiencing the highest levels of financial hardship at the

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Speaker 2: moment are those in their late twenties, mid to late twenties,

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Speaker 2: so thirty five to thirty nine. Why do you reckon

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Speaker 2: that is?

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Speaker 4: Yeah, and I'm wondering if this is you know, because

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Speaker 4: they're young families and you know, costs from you know

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Speaker 4: getting through these times, you know in terms of everyday bills,

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Speaker 4: but also school school fees, holidays coming up. I think

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Speaker 4: people are also preparing. But you know, credit cards there

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Speaker 4: there's still really incredibly an expensive way to do this,

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Speaker 4: and there's such a variation in how much they cost.

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Speaker 4: This is expensive money.

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Speaker 2: Yeah, I mean, do people have the financial literacy to

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Speaker 2: know how to navigate credit card date.

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Speaker 4: This is an extremely sticky product too in terms of

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Speaker 4: a way of borrowing. So you get your credit limit

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Speaker 4: and you know, our minds go to, oh, this is

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Speaker 4: how much money I have to work with it, But

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Speaker 4: it's really only your credit limit is the amount that

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Speaker 4: you can borrow, and when you're borrowing, it can be

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Speaker 4: incredibly expensive. One of the cheapest ones is thirteen point

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Speaker 4: nine percent, but they can go up as high as

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Speaker 4: double that, twenty seven point nine to nine.

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Speaker 5: This is this is really an expensive way to do this.

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Speaker 2: Are there alternative options for people?

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Speaker 4: Well, I really hope that people are aware that there

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Speaker 4: are no interest and low interest loans out there that

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Speaker 4: can really, you know, be a good alternative. They're not

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Speaker 4: for everyone, but they're available from groups like Good Shepherd,

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Speaker 4: the Finance. You know, they're really set up to help

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Speaker 4: people borrow in a much safer way.

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Speaker 2: Yeah, And for the time being, looking at these latest numbers,

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Speaker 2: what do you think it means for our financial future?

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Speaker 2: What will high levels of credit card use and potentially

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Speaker 2: credit card debt mean for New Zealand's economic recovery?

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Speaker 4: Well, I think in general we're going to get stuck

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Speaker 4: with the bill. We'll be carrying you know, balances for

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Speaker 4: a while, paying it down slowly, and you know, these

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Speaker 4: balances are going to stick with us for a while

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Speaker 4: and basically we're going to be paying that interest over

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Speaker 4: our long period to come.

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Speaker 2: Thanks for your time, Tom, appreciate it. That is Tom

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Speaker 2: harm to lead a personal finance lead at SORTED. Thank

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Speaker 2: you for your feedback as well.

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Speaker 4: Jack.

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Speaker 2: Regarding councils, there is plenty of evidence the councils are

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Speaker 2: very bad money managers, is pat Come on, Jack, No

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Speaker 2: one trusts counsels for anything at the moment, is Dave

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Speaker 2: and Christens is. Auckland is not New Zealand. We are

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Speaker 2: all part of this country. I think that's kind of

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Speaker 2: the point, though, isn't it. I just think if we

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Speaker 2: are expecting councils to deliver water infrastructure plans, if we're

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Speaker 2: expecting councils to be responsible for consenting in our cities,

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Speaker 2: towns and regions, surely we can trust councils with parking fines.

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Speaker 2: And the truth is that a parking find that might

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Speaker 2: be appropriate in central Auckland, or central christ Church or

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Speaker 2: central Wellington or Todung or Hamilton might not be appropriate

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Speaker 2: in other parts of regional New Zealand, but let me

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Speaker 2: know what you think. Ninety two ninety two is our

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Speaker 2: text number. Don't forget the standard text costs apply if

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Speaker 2: you are flicking me a message. It's squared past four.

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Speaker 1: Digging deeper into the day's headlines. It's hither duplicy allan

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Speaker 1: drive with one New Zealand one, give leape for business,

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Speaker 1: u STORGSB sport with tab get your bed on our

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Speaker 1: eighteen bit responsibly.

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Speaker 2: Eighteen past four and New Storks edb's sports talk host

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Speaker 2: Darcy Waldegrave is here with details on what sounds like

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Speaker 2: an ambitious bid, but my goodness, it would be amazing

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Speaker 2: if it was pulled off. The World Indoor Athletics Championships

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Speaker 2: to New Zealand.

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Speaker 6: Twenty twenty eight. The only issue there is what else

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Speaker 6: is happening in twenty twenty eight Olympic Games LA. Now

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Speaker 6: I'm not quite sure. I haven't done my research, and

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Speaker 6: this is news.

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Speaker 2: Zourney just come out.

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Speaker 6: As far as how many athletes actually attend.

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Speaker 2: I think the five hundred, But how many who are

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Speaker 2: going to the Olympics in that same cycle?

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Speaker 6: Ly do they keep their powder dry during the World

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Speaker 6: Indoor Athletics Championships that they come to stretch themselves out

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Speaker 6: before they go to LA So there is an asterisk

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Speaker 6: around this. But I think for an event, and New

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Speaker 6: Zealanders love sporting events, I think a lot of Kiwi

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Speaker 6: is now a little tired of They don't follow whole

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Speaker 6: programs unless they're at Mad Cricket van Mad Rugby Dad.

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Speaker 6: They want a one off event. They want to go

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Speaker 6: to something it feels special, like the final of the

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Speaker 6: Women's Rugby World Cup and so on and so forth.

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Speaker 6: So something like this, who wouldn't go? I think it's

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Speaker 6: over three two, three days of competition the last week

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Speaker 6: we're gonna have a three days of competition. You've got

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Speaker 6: twenty six different events, a teen male, thirteen female, best

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Speaker 6: in the world. And it doesn't have to be indoors.

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Speaker 6: Apparently they can still run this outdoors if required. So

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Speaker 6: Eden Park might have a shot. But but where would

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Speaker 6: where would this be beautiful?

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Speaker 7: Do you think, Jack?

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Speaker 6: Where do you think?

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Speaker 4: Oh?

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Speaker 2: Yeah, Tokaha to Kah, Yeah, that would be amazing.

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Speaker 6: It's got a roof, so it's under the roof. There's

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Speaker 6: massive amounts of accommodation and christ Church.

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Speaker 2: It'd be brand spanking new film major. You will be

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Speaker 2: right behind this, I can.

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Speaker 8: I think you want.

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Speaker 6: The coverage will be exceptional. It's an easy place to

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Speaker 6: get too, straight into christ Church on the plane unless

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Speaker 6: this fog that happens in Auckland.

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Speaker 9: So it's got a lot to it.

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Speaker 6: I think. Look, I don't know how far it goes,

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Speaker 6: but apparently government are behind it. Chris Bishop is behind it,

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Speaker 6: which is a positive. So what happens now I don't know.

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Speaker 2: So okay, So I've just looked at the dates for

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Speaker 2: the LA Olympics there in July. This would be held

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Speaker 2: in the third week of March, so pretty relatively comfortable climate,

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Speaker 2: not totally comparable to LA. But if those athletes are

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Speaker 2: starting to get in that kind of you know, similar

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Speaker 2: temperagere zone, you've got what three months in between, so

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Speaker 2: there's there's.

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Speaker 6: How much they want to fly back and forth from

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Speaker 6: a lot of their power bases in America or in Europe.

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Speaker 2: Yeah, yeah, especially well actually, because a lot of them

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Speaker 2: are based on especially those high profile American athletes, they're

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Speaker 2: all based on the West Coast these days. They you know,

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Speaker 2: they're all based around Oregon or maybe Texas there and

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Speaker 2: they will come. Yeah, I'm into it. I think it'd

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Speaker 2: be amazing. But who knew that the indoor Champs didn't

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Speaker 2: have to be indoors.

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Speaker 10: I didn't either.

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Speaker 6: I was going, hold on, we've got a big enough

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Speaker 6: indoor stadia bits to Kaha gets built And now I'm.

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Speaker 2: Really I'm putting you on the spot here. But I

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Speaker 2: think the indoor Champs, don't They have some events that

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Speaker 2: differ to the outdoor Champs, right, So you have like

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Speaker 2: the sixty meter sprint, stuff like that.

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Speaker 6: Little they had two hundred meters but it was so

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Speaker 6: tight that they bang into the law. Wow, they just

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Speaker 6: couldn't do it, so they canned that. So there's only

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Speaker 6: a handful of events. But I think as far as

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Speaker 6: an experience and you sit down for a couple of

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Speaker 6: days and watch all these world class athletes go it

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Speaker 6: at hammer and tongs, even I believe Jack, if the

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Speaker 6: best in the world aren't there, people would go because,

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Speaker 6: as I said at the start, it's an event, and

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Speaker 6: you said I just love being at an event. I

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Speaker 6: think it's got a lot about it. It's a lot

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Speaker 6: more feasible than the Commonwealth Games and whatever. Shape or

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Speaker 6: form they may take.

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Speaker 2: Now the Tallbacks have a new coach.

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Speaker 6: Yeah, and it's a wonderful part of a long lasting legacy.

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Speaker 6: Two thousand and two the World Champs when he's on

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Speaker 6: and finished fourth, Pero Cameron got on the top team.

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Speaker 6: Incredible stuff. He's a Hall of Famer. So from Ninad

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Speaker 6: Vucinich was an assistant coach. There after Tad Baldwin stopped

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Speaker 6: and then from Vusinich it went to Canada, and then

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Speaker 6: from Hanadi it goes to Pero Cameron, and then from

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Speaker 6: Pero Cameron it goes to jud Flavel. They were all there, Yeah,

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Speaker 6: in two thousand and two, thread the whole week and

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Speaker 6: he's of course he's won a couple of recent championships

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Speaker 6: for Canterbury, the Canterbury Ram first on a thirty years,

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Speaker 6: they've picked them up. He's won two more at that

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Speaker 6: level and he worked with the Breakers for many, many

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Speaker 6: many years as their assistant coach. I think he was

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Speaker 6: their assistant coach right the way through their heyday when

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Speaker 6: they were winning titles left right and sent us. It

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Speaker 6: makes huge sense to get somebody like that, and he

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Speaker 6: understands the energy and the pride behind the fern and

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Speaker 6: the tall blacks, although some may question did they go

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Speaker 6: far away enough? Would we get an internationals?

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Speaker 11: Basketball?

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Speaker 6: Is such an international game?

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Speaker 2: Give us thirty seconds on Nelson a sopha solo minor.

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Speaker 2: He hasn't overturned his band, so he's going to miss

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Speaker 2: the grand Final.

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Speaker 6: I've got a wee lesson for everybody out there. Don't

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Speaker 6: smash people on the head with your shoulder. It's called

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Speaker 6: control the narrative. I keep telling my daughter about if

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Speaker 6: you don't do this, this won't occur.

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Speaker 2: Control the controllerb. Don't start a.

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Speaker 6: Fight with somebody.

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Speaker 2: They won't fight back.

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Speaker 9: Just don't do it.

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Speaker 2: It's a shame though his.

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Speaker 6: Epic to watch, absolute monster of a human being.

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Speaker 11: But so be it.

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Speaker 2: Don't all right, don't thank you sir. He'll be with

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Speaker 2: us tonight with Sports Talk, taking your calls after seven o'clock.

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Speaker 2: Right now, it's twenty three plus four hard questions.

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Speaker 1: What strong opinion? Jack dam On, Heather Duplicy Eland drive

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Speaker 1: with one New Zealand let's get connected at news talk

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Speaker 1: and said.

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Speaker 2: Be Jack, you said, if we want councils to be responsible,

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Speaker 2: come on, if only they were responsible, they administer consents

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Speaker 2: in parking. But the last thing they are is responsible,

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Speaker 2: all care, no responsibility. As far as I'm concerned, Jack,

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Speaker 2: what is wrong with a blanket find system? This is

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Speaker 2: New Zealand where all people should be treated the same.

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Speaker 2: I just think the role of parking fines is it's

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Speaker 2: actually not trivial. But I just think if we are

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Speaker 2: trusting councils with things like consents, with things like funding

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Speaker 2: water infrastructure, with the complex balance sheets that they have

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Speaker 2: to manage, then I think we can trust them with

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Speaker 2: parking fines. And yeah, I do reckon that there's a

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Speaker 2: good argument to be made that different towns, different cities

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Speaker 2: would have different levels for their parking fines. Why does

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Speaker 2: a parking fine in Gore, for example, need to be

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Speaker 2: exactly the same as it as an Auckland CBD. But

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Speaker 2: let me know your thoughts ninety two ninety two get

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Speaker 2: to more of those. Very shortly after four point thirty,

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Speaker 2: We're going to take a look at news out of

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Speaker 2: Australia today. Two hundred retail stores from a major retailer

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Speaker 2: have just been announced as closing. What's it down to,

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Speaker 2: I'll tell you which stores are affected. Plus Christopher Luxen

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Speaker 2: fights back after questions about the sale of his personal properties.

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Speaker 2: We'll be talking politics before five. News is next on

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Speaker 2: newstalks 'b.

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Speaker 1: Digging deeper into the day's headlines. It's Jack Tame on

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Speaker 1: Hither Duper see Ellen drive with one New Zealand let's

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Speaker 1: get connected these talks, ed B.

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Speaker 12: When you're saying he's dragging, No, you're thinking him down

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Speaker 12: me when you're riding where he's driving.

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Speaker 1: Now you there's a mindry.

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Speaker 13: When your faith and.

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Speaker 3: Talks.

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Speaker 2: I'd be with Jack Tame before five o'clock. We will

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Speaker 2: play you some interesting comments from Sir John Key. He

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Speaker 2: was asked who he thought would win the US election,

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Speaker 2: and he said that not only did he think Donald

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Speaker 2: Trump would win, he wants Donald Trump to win. I

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Speaker 2: think the context of his comments are really important because

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Speaker 2: I know that will have ruffled a few feathers. He said,

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Speaker 2: it really was a question of the economy. He thought

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Speaker 2: that Donald Trump's economic policies were better than Krmala Harris's.

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Speaker 2: That Karmala Harris was much, much, much further to the

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Speaker 2: left on the political spectrum in the US than say

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Speaker 2: Joe Biden, for example, much closer to the likes of

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Speaker 2: Bernie Sanders and Therefore, he thought that Trump would be

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Speaker 2: a better option if the economy was front and center

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Speaker 2: in November's election. So, anyway, we'll play you some of

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Speaker 2: those comments before five o'clock. Right now it is twenty

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Speaker 2: four minutes to five.

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Speaker 1: It's the world wires on newstalgs'd be drive.

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Speaker 2: And we're starting in the Middle East, where Israel has

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Speaker 2: started its ground defense southern Lebanon.

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Speaker 12: We have wondered whether this conflict between Israel and Hasbula

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Speaker 12: might escalate into an all out war, whether we might

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Speaker 12: one day see is really troops crossing into the sovereign

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Speaker 12: country of Lebanon. And indeed, tonight the Israeli military is

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Speaker 12: confirming that they are carrying out this ground operation.

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Speaker 1: They are characterizing.

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Speaker 12: It as quote limited, localized and targeted ground rates based

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Speaker 12: on precise intelligence.

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Speaker 2: Meanwhile, Bin Yaman Nitan Yahoo has been speaking directly to

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Speaker 2: the people of Iran.

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Speaker 14: I want to address you, the people of Iran. Every

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Speaker 14: day you see a regime that subjugates, you make fiery

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Speaker 14: speeches about defending Lebanon, defending Gaza. There is nowhere in

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Speaker 14: the Middle East Israel cannot reach. There's nowhere we will

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Speaker 14: not go to protect our people. And protect our country.

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Speaker 14: The regime is bringing you, the noble Persian people, closer

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Speaker 14: to the abyss.

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Speaker 2: To the US where Joe Biden has lashed out at

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Speaker 2: Donald Trump, however, suggestions that he didn't communicate with officials

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Speaker 2: the aftermath of Hurricane Helene.

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Speaker 15: And get mystery. He's lying and the governor told him

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Speaker 15: he was lying. The governor told me he's lying. I've

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Speaker 15: spoken to the governor, spending time with him, and he

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Speaker 15: told me he's lying. I don't know why he does

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Speaker 15: this and the reason I get so angry about it.

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Speaker 15: I don't care about what he says about me. I

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Speaker 15: care when he communicates them people.

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Speaker 11: That are in need.

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Speaker 2: Donald Trump is also facing criticism over these comments.

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Speaker 6: Now, if you had one really violent day, like a

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Speaker 6: guy like Mike Kelly, put him in charge.

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Speaker 4: Congressman Kelly put him in charge for.

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Speaker 16: One day, one rough hour, and I mean.

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Speaker 3: Real rough, the word will get out and it will

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Speaker 3: end immediately.

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Speaker 16: And finally, nice are United Airlines pilots has treated passengers

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Speaker 16: to a generous surprise when he ordered thirty pizzas to

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Speaker 16: the airport following an emergency landing, so his flight was

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Speaker 16: forced to detour to a medical event that landed in

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Speaker 16: New Mexico instead of in Houston, and the pilot felt

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Speaker 16: so bad about the situation he falked out for thirty

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Speaker 16: pizzas from his own pocket.

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Speaker 2: He fed one hundred and fifty people. What a legend.

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Speaker 1: International correspondence with ends and eye insurance, Peace of mind

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Speaker 1: for New Zealand business.

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Speaker 2: And Australian corresponding. Murray Olds is or with us this afternoon.

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Speaker 11: Yeo, Murray, Hello Jack, Good afternoon.

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Speaker 2: Right, so talk to us a bit more about this

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Speaker 2: call to ban terrorist flags being waived at protests.

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Speaker 17: Yeah, and you know, for the last twelve months there's

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Speaker 17: been a pro Palestinian group in Australia that's been staging

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Speaker 17: rallies anti Israeli rallies, it must be said, in pro

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Speaker 17: Palestinian rallies. And there were two well, in fact, there

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Speaker 17: were more than two, but the two biggest on the

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Speaker 17: weekend on Sunday Melbourne and in Sydney, and both Sydney

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Speaker 17: and Melbourne there were Hezberlah flags waved and apparently I

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Speaker 17: did not see these, but Hummas flags waved as well.

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Speaker 17: Currently in Australia those flags may not be displayed in

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Speaker 17: public because both organizations, prescribed terrorist organizations. You can't waive

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Speaker 17: this stuff in public. But here's the big butt. Police

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Speaker 17: need more than a couple of people waving flags. They

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Speaker 17: need incitement to racial vilification or incitement to violence.

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Speaker 11: Then they can go and bust some heads, press charges

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Speaker 11: and prosecute.

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Speaker 17: So in New South Wales two years ago, the government,

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Speaker 17: the conservative government of.

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Speaker 11: The day, passed anti Nazi laws.

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Speaker 17: Right, so you can't do Nazi salutes, you can't have

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Speaker 17: Nazi flags, you can't have any of that Nazi nonsense

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Speaker 17: on the streets of New South Wales. And the opposition

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Speaker 17: leader this morning, I spoke to him very early and

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Speaker 17: he said, guess what if there's a whole on the

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Speaker 17: federal law that bans these flags, lets pass laws resemble

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Speaker 17: the anti Nazi legislation we passed at state level.

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Speaker 11: Two years ago.

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Speaker 17: Now will the federal government go down this path and

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Speaker 17: out and even you know equate HESBLA flags, hamas flags

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Speaker 17: with Nazi paraphernalia. Peter Dutton, the opposition leader, he's going

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Speaker 17: straight out of the Tony Abbot's playbook. He says, guess

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Speaker 17: what the government is too gutless to go down this

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Speaker 17: path because guess why You've got lots and lots of

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Speaker 17: Muslim voters in Sydney's western suburbs and Melbourne's Western suburbs,

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Speaker 17: and the Labor government Anthony Alberinezi does not want to

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Speaker 17: upset those people as we head in an election. Yeah,

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Speaker 17: so look it is. Look, it's very very difficult atmosphere.

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Speaker 17: You feel sorry for the police they have to try

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Speaker 17: and deal with these There were thirty thousand people in

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Speaker 17: Sydney jack.

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Speaker 11: On Sunday, so it's not small.

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Speaker 17: It's a big deal and these flags are being waved around.

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Speaker 2: And it's only going to get more complex, isn't it, Murray,

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Speaker 2: Because I mean, let's be totally clear. I know there

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Speaker 2: are many people in Lebanon who are totally opposed to Habolla,

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Speaker 2: but there are so many Lebanese Australians. These are really

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Speaker 2: big communities. And now seeing that, you know, these Israeli

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Speaker 2: troops on the ground in southern Lebanon and you know,

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Speaker 2: continuing to shell parts of Beairute. I mean this is

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Speaker 2: only going to get more.

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Speaker 17: Complex, absolutely, one hundred percent right, It's only going to

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Speaker 17: get a lot more complex. I was in Beirute not

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Speaker 17: long after the end of the Civil War, when the

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Speaker 17: new South Wales government sent a whole bunch of public

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Speaker 17: senior public servants in charge of water, sanitation, electricity, road

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Speaker 17: making all this stuff to try and repair this beautiful

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Speaker 17: city of Beirut because the joint was just a mess

441
00:22:31,000 --> 00:22:33,920
Speaker 17: that had been smashed to smithereens in the Civil war.

442
00:22:34,080 --> 00:22:36,119
Speaker 11: And we're seeing the same thing happen again.

443
00:22:36,280 --> 00:22:36,600
Speaker 8: Yeah.

444
00:22:36,800 --> 00:22:40,200
Speaker 2: Now major retailer has announced it's closing two hundred stores.

445
00:22:40,440 --> 00:22:42,919
Speaker 2: I thought two hundred stores, what is this going to

446
00:22:42,960 --> 00:22:46,880
Speaker 2: be like Azara or a sports Girl or something like that,

447
00:22:46,920 --> 00:22:50,840
Speaker 2: But no, this is Rockman's autograph w Lane. Still, two

448
00:22:50,920 --> 00:22:53,280
Speaker 2: hundred stores nationwide isn't insignificant.

449
00:22:54,640 --> 00:22:57,640
Speaker 11: And I'm very happy you know all these brands. Jack.

450
00:22:57,680 --> 00:22:59,720
Speaker 17: I didn't know you're in touch with your feminine fashion

451
00:22:59,760 --> 00:23:02,560
Speaker 17: side there. Because I must say, I've never heard of Mosaic.

452
00:23:02,840 --> 00:23:05,399
Speaker 17: Apparently it's been listed on the Stock Exchange for quite

453
00:23:05,400 --> 00:23:10,200
Speaker 17: some time. News Come this afternoon says that Mosaic has

454
00:23:10,240 --> 00:23:14,479
Speaker 17: been suspended from trading because it failed to hit a

455
00:23:14,520 --> 00:23:19,600
Speaker 17: deadline to post its annual results. Here's the thing, how

456
00:23:19,600 --> 00:23:22,200
Speaker 17: bit is going to be because Mosaic and I must

457
00:23:22,280 --> 00:23:25,680
Speaker 17: admit I'd never heard of Mosaic to be honest, But look,

458
00:23:25,760 --> 00:23:28,159
Speaker 17: there are four thousand staff. It closed a couple of

459
00:23:28,240 --> 00:23:32,680
Speaker 17: hundred stores a year ago. Apparently it's really struggling. Four

460
00:23:32,720 --> 00:23:35,840
Speaker 17: thousand staff. It's still got around seven hundred stores apparently

461
00:23:35,880 --> 00:23:36,639
Speaker 17: around Australia.

462
00:23:37,280 --> 00:23:39,240
Speaker 11: But how deep are these cuts going to go?

463
00:23:39,320 --> 00:23:43,040
Speaker 17: Because it's a lot of jobs and obviously trouble times

464
00:23:43,080 --> 00:23:46,720
Speaker 17: for fashion retail bricks and mortar. But you go to

465
00:23:46,760 --> 00:23:49,680
Speaker 17: the other side, the online side, and all the young

466
00:23:49,720 --> 00:23:51,640
Speaker 17: people I work with tell us that's where they buy

467
00:23:51,680 --> 00:23:52,720
Speaker 17: their clothes these days.

468
00:23:52,760 --> 00:23:53,400
Speaker 11: Online.

469
00:23:53,800 --> 00:23:55,400
Speaker 2: You mean, you don't murray.

470
00:23:56,920 --> 00:23:58,879
Speaker 17: But I don't buy clothes anymore. If I get a

471
00:23:58,880 --> 00:24:00,000
Speaker 17: pair of jeens a year, I'm.

472
00:24:00,200 --> 00:24:06,280
Speaker 2: Well hedy more clothes. Jordan Pattaya is going to pursue

473
00:24:06,280 --> 00:24:08,119
Speaker 2: a career in the NFL with the backing of the

474
00:24:08,200 --> 00:24:09,080
Speaker 2: Queensland Reds.

475
00:24:10,320 --> 00:24:14,640
Speaker 17: That's right, yeah, yeah, yeah. Look he's he is a

476
00:24:14,640 --> 00:24:17,400
Speaker 17: problematic rugby union player. At his best, he's a star,

477
00:24:17,840 --> 00:24:20,760
Speaker 17: a total star. But look he keeps getting injured, which

478
00:24:20,800 --> 00:24:22,320
Speaker 17: is not as fault. I mean, it's just the way

479
00:24:22,359 --> 00:24:25,919
Speaker 17: he's built. He's very very you know, as one of

480
00:24:25,920 --> 00:24:29,760
Speaker 17: these slender outside backs as I was for christ Gidge

481
00:24:29,800 --> 00:24:32,840
Speaker 17: Boys High School. When you get those big, meaty meat

482
00:24:32,880 --> 00:24:35,879
Speaker 17: headed forwards running into you, it does hurt.

483
00:24:36,119 --> 00:24:36,520
Speaker 11: Anyway.

484
00:24:36,560 --> 00:24:38,879
Speaker 17: He hasn't played for Queensland a year, hasn't played for

485
00:24:38,920 --> 00:24:41,119
Speaker 17: the Wallamies either, but as I say, honest day, he's

486
00:24:41,160 --> 00:24:45,520
Speaker 17: a fabulous player. So he approached the Queensland Reds. Could

487
00:24:45,560 --> 00:24:48,399
Speaker 17: I seek a release? They said, go your harder. So

488
00:24:48,680 --> 00:24:50,680
Speaker 17: what he's going to do is go to the United

489
00:24:50,720 --> 00:24:54,120
Speaker 17: States in January. The National Football League's got something over

490
00:24:54,160 --> 00:24:58,879
Speaker 17: there called the Player Pathway, the International Player Pathway camp

491
00:24:59,080 --> 00:24:59,760
Speaker 17: in January.

492
00:24:59,760 --> 00:25:01,080
Speaker 11: That's if the tire's going to go.

493
00:25:01,440 --> 00:25:03,720
Speaker 17: And apparently they get people from all over the world

494
00:25:03,880 --> 00:25:06,320
Speaker 17: who go and try out their luck in the NFL.

495
00:25:06,520 --> 00:25:08,639
Speaker 17: The last player to do quite well there was Jared

496
00:25:08,680 --> 00:25:11,600
Speaker 17: Haynes Rugby League stay here of course, and he played

497
00:25:11,600 --> 00:25:14,520
Speaker 17: for the San Francisco forty nine ers over ten years ago.

498
00:25:14,720 --> 00:25:16,080
Speaker 2: Yeah is that ten years ago?

499
00:25:16,520 --> 00:25:16,760
Speaker 3: No?

500
00:25:18,880 --> 00:25:25,119
Speaker 17: Twenty fourteen, fifteen? I'm pretty sure. Oh that's so fast.

501
00:25:25,119 --> 00:25:25,919
Speaker 17: It doesn't seem to know.

502
00:25:26,520 --> 00:25:29,240
Speaker 2: That's insane, isn't I It felt in my bones like

503
00:25:29,280 --> 00:25:31,080
Speaker 2: only two or three years ago. But you go, thank

504
00:25:31,119 --> 00:25:34,440
Speaker 2: you Murray. That is Australian correspondent Murray Olds for this

505
00:25:34,440 --> 00:25:36,320
Speaker 2: this afternoon. Thank you for your feedback as well. So

506
00:25:36,359 --> 00:25:38,880
Speaker 2: parking fines are up today, Jack consider putting up parking fines.

507
00:25:38,880 --> 00:25:41,200
Speaker 2: Why don't they put up speeding fines, says Colleen. They're

508
00:25:41,200 --> 00:25:44,720
Speaker 2: currently pathetic. They're far more dangerous than parking. That is

509
00:25:44,760 --> 00:25:46,959
Speaker 2: a I mean, that is not an unreasonable point, Colleen.

510
00:25:47,600 --> 00:25:50,320
Speaker 2: It is the purpose of like you said, take a

511
00:25:50,400 --> 00:25:52,840
Speaker 2: really expensive parking fine, right, so one for parking in

512
00:25:52,920 --> 00:25:55,640
Speaker 2: a disabled spot. We can all agree if you're not disabled,

513
00:25:55,680 --> 00:25:57,840
Speaker 2: you shouldn't be parking in a disabled spot. Seven hundred

514
00:25:57,840 --> 00:25:59,720
Speaker 2: and fifty bucks. That's the fine now. But if you

515
00:25:59,720 --> 00:26:02,919
Speaker 2: can hear that to a speeding fine, which is arguably

516
00:26:03,040 --> 00:26:07,040
Speaker 2: more dangerous for the public at large, I guess depending

517
00:26:07,080 --> 00:26:10,280
Speaker 2: on the circumstances, then there is a good argument to

518
00:26:10,320 --> 00:26:12,080
Speaker 2: be made that maybe they're a little bit out of whack.

519
00:26:12,240 --> 00:26:13,840
Speaker 2: So thank you for that. Ninety two to ninety two

520
00:26:13,880 --> 00:26:15,360
Speaker 2: is the text number if you want to get in touch.

521
00:26:15,400 --> 00:26:17,720
Speaker 2: We're talking to politics. Barry Soper in next score a

522
00:26:17,800 --> 00:26:18,840
Speaker 2: five on Newstalks, he'd be.

523
00:26:19,520 --> 00:26:23,160
Speaker 1: Politics was centrics credit check your customers and get payments.

524
00:26:22,840 --> 00:26:27,080
Speaker 2: Certainty Newstalks, he'd be senior political correspondent. Barry Soper is

525
00:26:27,119 --> 00:26:30,080
Speaker 2: here and studio with this good afternoon, sir Jack. So

526
00:26:30,280 --> 00:26:32,920
Speaker 2: Christopher Luxen has hit back at some of the questions

527
00:26:32,960 --> 00:26:35,399
Speaker 2: about his various properties, and I'm pleased to.

528
00:26:35,400 --> 00:26:39,000
Speaker 9: See has had some pushback on this, because look, this

529
00:26:39,080 --> 00:26:42,080
Speaker 9: man earned several million dollars a year when he was

530
00:26:42,200 --> 00:26:46,199
Speaker 9: the see of in New Zealand. He was also a

531
00:26:46,240 --> 00:26:49,880
Speaker 9: CEO Unilever. The man, you know, when he came back

532
00:26:49,920 --> 00:26:52,040
Speaker 9: to take on this job at a fraction of the

533
00:26:52,200 --> 00:26:57,320
Speaker 9: salary of the Prime Minister's job. You know, it seems

534
00:26:57,359 --> 00:27:01,359
Speaker 9: to have been held against him the amount of properties

535
00:27:01,400 --> 00:27:04,520
Speaker 9: he's got. He's got seven properties, and we've since found

536
00:27:04,520 --> 00:27:06,960
Speaker 9: out today he sold two of them. One was the

537
00:27:07,040 --> 00:27:11,040
Speaker 9: Kate Sheperd apartment that he occupied around the corner from

538
00:27:11,080 --> 00:27:14,640
Speaker 9: Premiere House, so he's now sold that. And there's an

539
00:27:14,680 --> 00:27:18,679
Speaker 9: outcry that he avoided the bright line test because the

540
00:27:18,760 --> 00:27:21,879
Speaker 9: National government changed it to back what it used to

541
00:27:21,880 --> 00:27:26,080
Speaker 9: be at two years labor, extended it to five years,

542
00:27:26,359 --> 00:27:29,800
Speaker 9: which is a de facto capital gains tax anyway, So

543
00:27:30,400 --> 00:27:33,359
Speaker 9: you know, if he was wise and if he didn't

544
00:27:33,400 --> 00:27:36,159
Speaker 9: want to, if it was still at five years, of

545
00:27:36,160 --> 00:27:38,520
Speaker 9: course he wouldn't have been selling the Kate Shepper department.

546
00:27:38,640 --> 00:27:40,720
Speaker 9: I mean, that's what anybody would do. He didn't need

547
00:27:40,760 --> 00:27:42,480
Speaker 9: to sell it, but he thought, well, I'm not living

548
00:27:42,480 --> 00:27:44,760
Speaker 9: there anymore, so why not. And I've got to say

549
00:27:45,200 --> 00:27:49,680
Speaker 9: Luxelon's making no apologize apologies for selling his apartment out

550
00:27:49,720 --> 00:27:52,399
Speaker 9: of profit, which of course he shouldn't. Here he is

551
00:27:52,440 --> 00:27:53,080
Speaker 9: with Heather this.

552
00:27:53,119 --> 00:27:54,720
Speaker 8: Morning the parents at school sixteen.

553
00:27:54,760 --> 00:27:57,240
Speaker 18: I went to university, did well in the world's successful,

554
00:27:57,280 --> 00:27:59,040
Speaker 18: get it right, and I've chosen to come to politics

555
00:27:59,080 --> 00:28:00,320
Speaker 18: because I want to add back to He's on.

556
00:28:00,520 --> 00:28:01,879
Speaker 8: So that's my reason for it.

557
00:28:01,920 --> 00:28:04,880
Speaker 18: But if we're going to criticize people for being successful,

558
00:28:05,080 --> 00:28:08,080
Speaker 18: and you know, let's be clear. You know I'm wealthy,

559
00:28:08,160 --> 00:28:09,240
Speaker 18: I'm sorted.

560
00:28:09,280 --> 00:28:11,320
Speaker 19: Have you seen what your Cinda's doing? Chris, after this,

561
00:28:11,400 --> 00:28:13,920
Speaker 19: you can you can go on to speak your circuit. No, look,

562
00:28:14,280 --> 00:28:16,960
Speaker 19: you can make as much in one gig speaking as

563
00:28:16,960 --> 00:28:17,920
Speaker 19: you do on your property.

564
00:28:18,119 --> 00:28:20,040
Speaker 18: Like that won't be my focus. There's a lot of

565
00:28:20,040 --> 00:28:22,040
Speaker 18: other things to do post politics. But right now I

566
00:28:22,080 --> 00:28:25,040
Speaker 18: am absolutely determined. We have a great future. We've got

567
00:28:25,040 --> 00:28:27,360
Speaker 18: a great potential on this joint and I'll tell you.

568
00:28:27,640 --> 00:28:30,359
Speaker 9: I'll tell you in a sec what Jasinda Dern is

569
00:28:30,400 --> 00:28:36,000
Speaker 9: allegedly making speaking on that circuit. But look, the politics

570
00:28:36,000 --> 00:28:38,440
Speaker 9: of MV and my view is alive and well, and

571
00:28:38,480 --> 00:28:41,560
Speaker 9: it certainly was a stand up in Auckland yesterday with

572
00:28:41,680 --> 00:28:45,280
Speaker 9: this question, probably the dumbest I've heard for a long time.

573
00:28:45,600 --> 00:28:46,800
Speaker 8: Are you enjoying the Sky TV?

574
00:28:47,640 --> 00:28:47,960
Speaker 5: Sorry?

575
00:28:48,120 --> 00:28:49,360
Speaker 20: Are you enjoying the sky TV?

576
00:28:49,720 --> 00:28:52,920
Speaker 8: For what purpose? What's your question about? I haven't I've

577
00:28:52,920 --> 00:28:55,400
Speaker 8: just moved into Premier House so he.

578
00:28:55,400 --> 00:28:58,200
Speaker 9: Didn't have the chance to watch it. And if anybody

579
00:28:58,280 --> 00:29:02,479
Speaker 9: suggests that the Prime Minister shouldn't be getting Sky TV,

580
00:29:02,680 --> 00:29:05,200
Speaker 9: they need their head red because this man has got

581
00:29:05,240 --> 00:29:08,360
Speaker 9: to keep up with what's going on in the Middle East.

582
00:29:08,400 --> 00:29:10,000
Speaker 9: He's got to keep up around the world. He's not

583
00:29:10,000 --> 00:29:11,960
Speaker 9: going to get it from TV and Z, He's not

584
00:29:11,960 --> 00:29:14,360
Speaker 9: going to get it from TV three. So you know,

585
00:29:14,720 --> 00:29:18,720
Speaker 9: are we going to now the grudgeam getting sky TV?

586
00:29:19,080 --> 00:29:20,800
Speaker 11: But just Deurn?

587
00:29:20,920 --> 00:29:23,880
Speaker 9: Yes, on that international circuit, Jack, You'll be pleased to

588
00:29:23,920 --> 00:29:28,040
Speaker 9: hear that she apparently has joined the top tier of

589
00:29:28,400 --> 00:29:32,920
Speaker 9: political celebrities and international speakers, and one of the organizations

590
00:29:32,920 --> 00:29:36,720
Speaker 9: they claim to represent dern on the Asian market, told

591
00:29:38,080 --> 00:29:42,640
Speaker 9: the media that Durn's fee for events was about three

592
00:29:43,000 --> 00:29:47,560
Speaker 9: one hundred and sixteen thousand dollars for getting up beating

593
00:29:47,560 --> 00:29:48,240
Speaker 9: her gums.

594
00:29:48,760 --> 00:29:52,960
Speaker 2: Honestly, I mean, if that's true, I.

595
00:29:53,200 --> 00:29:54,720
Speaker 9: Say, I know you're a bit of a fan of

596
00:29:56,000 --> 00:30:00,000
Speaker 9: All I can say is hopefully for this international speak

597
00:30:00,000 --> 00:30:03,560
Speaker 9: making circuit. She says more to them and more interesting

598
00:30:04,040 --> 00:30:07,120
Speaker 9: than she was when she was in this country. But

599
00:30:07,160 --> 00:30:10,880
Speaker 9: the thing, isn't it she had this international celebrity. I

600
00:30:11,000 --> 00:30:15,800
Speaker 9: traveled with her throughout her Prime ministership overseas. They loved

601
00:30:15,800 --> 00:30:19,200
Speaker 9: her because she was young, she had a child out

602
00:30:19,240 --> 00:30:22,120
Speaker 9: of wedlock to some of them that used to want

603
00:30:22,160 --> 00:30:25,320
Speaker 9: her to come in and discuss, you know, the pros

604
00:30:25,360 --> 00:30:30,240
Speaker 9: and cons. So she's famous internationally and cashing in on

605
00:30:30,280 --> 00:30:31,280
Speaker 9: it very quickly.

606
00:30:31,480 --> 00:30:33,360
Speaker 2: John Key is pecking a Donald Trump.

607
00:30:33,400 --> 00:30:37,160
Speaker 9: Whin Yeah, was sort of reluctantly in a way. He

608
00:30:37,280 --> 00:30:40,680
Speaker 9: said that if you talk the economy, he would prefer

609
00:30:40,800 --> 00:30:45,560
Speaker 9: Donald Trump. Although the tariffs that Donald Trump has been

610
00:30:45,600 --> 00:30:49,560
Speaker 9: promising up to sixty percent in the case mainly of Chinese,

611
00:30:49,960 --> 00:30:53,800
Speaker 9: but ten percent with the likes of New Zealand. You know,

612
00:30:53,880 --> 00:30:58,360
Speaker 9: he said he'll probably come in economics for New Zealand

613
00:30:58,400 --> 00:30:59,880
Speaker 9: though is not going to be great.

614
00:31:00,120 --> 00:31:02,360
Speaker 2: No, hey, thank you so much. Barry, I appreciate your

615
00:31:02,360 --> 00:31:04,760
Speaker 2: time as always. Barrie Sober at seven to.

616
00:31:04,840 --> 00:31:10,080
Speaker 1: Five, putting the tough questions to the newspeakers the mic Hosking.

617
00:31:09,720 --> 00:31:13,480
Speaker 19: Breakfast and studio Wells. We have Christopher luxon the Prime Minister.

618
00:31:13,480 --> 00:31:15,400
Speaker 19: I've got to talk about the Dunedin Hospital. Why don't

619
00:31:15,400 --> 00:31:17,719
Speaker 19: you guys not find one point one billion bucks just

620
00:31:17,720 --> 00:31:19,040
Speaker 19: to get these guys what they want?

621
00:31:19,120 --> 00:31:21,040
Speaker 18: Yeah, look, I mean it's frustrating for people, and I

622
00:31:21,080 --> 00:31:23,320
Speaker 18: get it's frustrating for us as a new government inheriting

623
00:31:23,360 --> 00:31:23,880
Speaker 18: the project.

624
00:31:23,960 --> 00:31:26,160
Speaker 8: It started off at one point two billion.

625
00:31:25,960 --> 00:31:28,440
Speaker 18: A latest review suggesting it's going to be approaching three

626
00:31:28,440 --> 00:31:31,120
Speaker 18: billion dollars, which would be without doubt the most expensive

627
00:31:31,120 --> 00:31:33,000
Speaker 18: hospital in the history of the Southern Hemisphere. So the

628
00:31:33,080 --> 00:31:35,000
Speaker 18: challenge we've got is that we are very committed to

629
00:31:35,000 --> 00:31:36,680
Speaker 18: building a new hospital and then don't get me wrong,

630
00:31:36,720 --> 00:31:38,040
Speaker 18: but we've got to do it within the one point

631
00:31:38,080 --> 00:31:40,640
Speaker 18: nine billion dollar for school envelope. Otherwise that means that

632
00:31:40,680 --> 00:31:44,040
Speaker 18: we can't do from are trom Parmesan or Nelson other

633
00:31:44,080 --> 00:31:44,960
Speaker 18: regional hospitals.

634
00:31:45,240 --> 00:31:48,800
Speaker 1: Hither dupusy Ellen on the mic Hosking Breakfast Fact tomorrow

635
00:31:48,880 --> 00:31:52,120
Speaker 1: at six am with the Jaguar f Base US talks

636
00:31:52,120 --> 00:31:53,040
Speaker 1: head by.

637
00:31:52,760 --> 00:31:56,479
Speaker 2: Tell you that Barry Sober is a trouble maker, just

638
00:31:56,520 --> 00:31:58,840
Speaker 2: like his wife, saying, oh, you're a fan of just

639
00:31:58,880 --> 00:32:01,240
Speaker 2: and writed I'm not a fan of any That is

640
00:32:01,280 --> 00:32:05,160
Speaker 2: my position and thank you for your text and emails.

641
00:32:05,240 --> 00:32:05,440
Speaker 11: Jack.

642
00:32:05,720 --> 00:32:08,080
Speaker 2: Seriously, if Jacindra Ardern made a profit on her house,

643
00:32:08,120 --> 00:32:11,240
Speaker 2: which I'm sure she would when she sells it, does

644
00:32:11,240 --> 00:32:14,080
Speaker 2: it really make the news. Well, I can tell you

645
00:32:14,160 --> 00:32:17,800
Speaker 2: that personally I have questioned her several times before in

646
00:32:17,840 --> 00:32:22,640
Speaker 2: pretty tense exchanges regarding her tax position on her own house.

647
00:32:22,640 --> 00:32:24,400
Speaker 2: We are going to have more to say on capital

648
00:32:24,440 --> 00:32:27,960
Speaker 2: gains tax after five o'clock this evening, so prepare for

649
00:32:28,000 --> 00:32:29,880
Speaker 2: your blood to boil. As well as that, we're going

650
00:32:29,920 --> 00:32:31,800
Speaker 2: to take you for the very latest on the situation

651
00:32:31,960 --> 00:32:34,400
Speaker 2: in Lebanon. So if you're just joining US, Israel has

652
00:32:34,440 --> 00:32:38,560
Speaker 2: started some what it says are relatively small scale ground

653
00:32:38,600 --> 00:32:41,040
Speaker 2: operations in southern Lebanon at the moment. There have also

654
00:32:41,120 --> 00:32:44,840
Speaker 2: been explosions in Beirut, explosions in Damascus and Syria as well.

655
00:32:45,240 --> 00:32:46,840
Speaker 2: We'll get the very latest on that. We'll tell you

656
00:32:46,880 --> 00:32:49,680
Speaker 2: about the ComCom, which has just released its decision on

657
00:32:49,720 --> 00:32:52,320
Speaker 2: the proposed merger between the food Stuff's North Island and

658
00:32:52,480 --> 00:32:55,280
Speaker 2: South Island operations. We're going to go to the food

659
00:32:55,280 --> 00:33:00,480
Speaker 2: Stuff North Island Operations CEO, get him to give us pitch.

660
00:33:01,000 --> 00:33:03,000
Speaker 2: Why should they be allowed to join when there's so

661
00:33:03,080 --> 00:33:06,840
Speaker 2: much concern about competition or lack thereof in the supermarket space.

662
00:33:07,160 --> 00:33:10,000
Speaker 2: It's almost five o'clock though. I'm Jack Taman for Heather

663
00:33:10,200 --> 00:33:11,960
Speaker 2: News is next on Newstalk ZB.

664
00:33:17,400 --> 00:33:20,920
Speaker 1: Pressing the newsmakers to get the real story. It's Jack

665
00:33:21,000 --> 00:33:24,760
Speaker 1: tame on Heather duplicy allan drive with one New Zealand

666
00:33:25,120 --> 00:33:27,120
Speaker 1: let's get connected, new Stall said.

667
00:33:27,160 --> 00:33:32,080
Speaker 2: B Israel's Defense Force says it has begun a quote

668
00:33:32,200 --> 00:33:36,800
Speaker 2: limited localized ground defensive against his baller targets in southern Lebanon,

669
00:33:36,960 --> 00:33:40,000
Speaker 2: opening a new front in the Middle East conflict. The

670
00:33:40,040 --> 00:33:43,080
Speaker 2: IDF released a statement saying its targets were located in

671
00:33:43,160 --> 00:33:46,680
Speaker 2: villages close to the border that posed an immediate threat

672
00:33:46,720 --> 00:33:51,800
Speaker 2: to Israeli communities. International relations expert from Otago University, Robert Patman,

673
00:33:51,920 --> 00:33:54,400
Speaker 2: is with us this evening. Just how significant is this?

674
00:33:54,480 --> 00:33:57,920
Speaker 21: Robert, Oh, good evening, Jacob. I think it's very significant

675
00:33:57,960 --> 00:34:01,520
Speaker 21: and it shows what many people feel that the Galza conflict,

676
00:34:01,760 --> 00:34:03,520
Speaker 21: which is the root of the problem at the moment,

677
00:34:04,040 --> 00:34:08,000
Speaker 21: always had the potential to culminate in a wider regional war.

678
00:34:08,040 --> 00:34:10,280
Speaker 21: And we'll beginning to see this now. And the interesting

679
00:34:10,360 --> 00:34:14,360
Speaker 21: thing is, if you look at the Israelian cursion today,

680
00:34:14,520 --> 00:34:17,760
Speaker 21: it's quite similar to the Israeli invasion of Lebanon June

681
00:34:18,040 --> 00:34:22,279
Speaker 21: eighty two in that both that they both had their

682
00:34:22,360 --> 00:34:26,440
Speaker 21: roots in the Palestinian Israeli conflict, much as the fighting

683
00:34:26,520 --> 00:34:31,480
Speaker 21: does between Hezbullah and Israel today, and that is really

684
00:34:31,520 --> 00:34:32,600
Speaker 21: the root of the problem.

685
00:34:32,640 --> 00:34:35,319
Speaker 2: It seems to me what kind of retaliation should we

686
00:34:35,360 --> 00:34:36,320
Speaker 2: expect from Hisbola.

687
00:34:38,239 --> 00:34:43,520
Speaker 21: Well, it's clearly been I think severely degraded by the

688
00:34:43,560 --> 00:34:46,360
Speaker 21: pummeling they've taken. They've been on the receiving end of

689
00:34:48,360 --> 00:34:53,000
Speaker 21: exploding communications devices as well as air strikes. They've lost

690
00:34:53,040 --> 00:34:56,799
Speaker 21: their leader. So yes, I think they're going to be

691
00:34:56,920 --> 00:35:01,080
Speaker 21: militarily in retreat. But there's not a literary you know,

692
00:35:01,200 --> 00:35:04,400
Speaker 21: great Ever, greater applications of military power is not going

693
00:35:04,480 --> 00:35:11,359
Speaker 21: to solve the political problem that Israel faces. And you know,

694
00:35:11,600 --> 00:35:14,600
Speaker 21: for the next six months, I think Israel, with its backing,

695
00:35:14,840 --> 00:35:17,080
Speaker 21: generous backing from the most powerful country in world. The

696
00:35:17,160 --> 00:35:20,880
Speaker 21: United States has the upper hand against groups like the Whotis,

697
00:35:21,440 --> 00:35:25,520
Speaker 21: has Bulla and of course in Gaza, but that is

698
00:35:25,600 --> 00:35:30,319
Speaker 21: also particularly the loss of civilians in Lebanon as well

699
00:35:30,360 --> 00:35:34,360
Speaker 21: as the lots of civilians in Gaza, is fueling anti

700
00:35:34,480 --> 00:35:37,719
Speaker 21: Israeli feelings, which you know are going to have long

701
00:35:37,800 --> 00:35:38,719
Speaker 21: term consequences.

702
00:35:38,800 --> 00:35:40,680
Speaker 10: Unfortunately, is this.

703
00:35:40,680 --> 00:35:44,120
Speaker 2: Still concern about Iran getting involved now? How likely is that?

704
00:35:45,880 --> 00:35:48,200
Speaker 21: It can't be ruled out? But I think the Iranians

705
00:35:48,200 --> 00:35:52,480
Speaker 21: have been very cautious so far around. Although it's a

706
00:35:52,480 --> 00:35:56,640
Speaker 21: big power, big in regional terms, a country of more

707
00:35:56,680 --> 00:36:02,520
Speaker 21: than one hundred million, it's certainly supporting groups like the

708
00:36:02,520 --> 00:36:05,759
Speaker 21: Whoties and has Bulla, and I think it will it

709
00:36:05,760 --> 00:36:09,560
Speaker 21: will certainly try to, if you like, support these proxy

710
00:36:09,600 --> 00:36:13,680
Speaker 21: groups or partner groups, depending on your terminology. I don't

711
00:36:13,719 --> 00:36:16,680
Speaker 21: think it would want to get directly involved, and it

712
00:36:16,719 --> 00:36:19,680
Speaker 21: would probably recognize that if it did get directly involved

713
00:36:19,640 --> 00:36:24,319
Speaker 21: in the United States might escalate its own involvement from

714
00:36:24,360 --> 00:36:28,960
Speaker 21: going from a generous supporter of Israel to actually involved itself.

715
00:36:29,320 --> 00:36:33,239
Speaker 21: So I think both ironically both Iran and America want

716
00:36:33,280 --> 00:36:36,960
Speaker 21: to stay out of this escalating situation. But as we've

717
00:36:37,000 --> 00:36:40,759
Speaker 21: seen Jack with previous conflicts, it's not the intentions of

718
00:36:40,800 --> 00:36:46,680
Speaker 21: the parties that determine events. Sometimes events have, if you like,

719
00:36:46,760 --> 00:36:49,759
Speaker 21: become inadvertent that conflicts, you know, do not always go

720
00:36:49,800 --> 00:36:53,239
Speaker 21: according the plan, and the fog of war occurs and

721
00:36:53,280 --> 00:36:57,440
Speaker 21: we get unintended consequences. This is what's so dangerous about

722
00:36:57,440 --> 00:37:04,120
Speaker 21: this situation with Israel effectively invading a sovereign country, bombing

723
00:37:04,200 --> 00:37:06,719
Speaker 21: the capital against the terror targets.

724
00:37:06,760 --> 00:37:08,960
Speaker 5: But this has far.

725
00:37:08,960 --> 00:37:12,640
Speaker 21: Reaching consequences and you know the experience of Israel on

726
00:37:12,719 --> 00:37:16,640
Speaker 21: nineteen eighty two must be sobering. Has Buller was born

727
00:37:17,120 --> 00:37:20,799
Speaker 21: out of the Israeli invasion of Lebanon and now it's

728
00:37:21,120 --> 00:37:26,120
Speaker 21: re entered Lebanon to deal with you know, the leadership

729
00:37:26,160 --> 00:37:29,600
Speaker 21: of has Buller which had its origins in the previous incursion.

730
00:37:30,040 --> 00:37:32,680
Speaker 2: Thanks for your time and expertise. As always, we appreciate

731
00:37:32,719 --> 00:37:36,279
Speaker 2: it that as Professor Robert Hampman from Otago University. Right now,

732
00:37:36,280 --> 00:37:39,640
Speaker 2: it's eleven past five, Jack Team, and the Commerce Commission

733
00:37:39,640 --> 00:37:42,239
Speaker 2: has rejected food Stuff's proposal to merge their North and

734
00:37:42,360 --> 00:37:46,360
Speaker 2: South Island entities. The report sites concerns around market competition

735
00:37:46,440 --> 00:37:49,160
Speaker 2: and the effect on suppliers, reducing major buyers in New

736
00:37:49,239 --> 00:37:52,479
Speaker 2: Zealand from three to two. Chris Quinn's food Stuff North

737
00:37:52,480 --> 00:37:57,520
Speaker 2: Island CEO and is with US skilled up as it stands,

738
00:37:57,600 --> 00:38:00,160
Speaker 2: Chris to the North and South Island food Stuff US

739
00:38:00,480 --> 00:38:03,279
Speaker 2: arms compete not at all.

740
00:38:03,480 --> 00:38:06,839
Speaker 22: So they are, you know, we are entirely separate from

741
00:38:06,880 --> 00:38:09,080
Speaker 22: a geographic point of view. You know, it's one of

742
00:38:09,360 --> 00:38:11,279
Speaker 22: the wonders of New Zealand that the North and South

743
00:38:11,280 --> 00:38:15,840
Speaker 22: Island geography is quite separated, and we have you know,

744
00:38:15,920 --> 00:38:18,600
Speaker 22: the merger proposal was essentially going to see the same

745
00:38:18,600 --> 00:38:21,160
Speaker 22: stores and the same communities owned by the same families

746
00:38:22,239 --> 00:38:27,200
Speaker 22: and bringing together the support operation for the retail stores,

747
00:38:27,600 --> 00:38:30,040
Speaker 22: which is out of sight of customers and part of

748
00:38:30,040 --> 00:38:33,239
Speaker 22: retail competition, bring it together in a more efficient way

749
00:38:33,280 --> 00:38:35,759
Speaker 22: so that we could keep delivering value and innovation for

750
00:38:35,840 --> 00:38:38,600
Speaker 22: New Zealanders. That's the disappointing thing about today's outcome.

751
00:38:38,760 --> 00:38:41,120
Speaker 2: Yeah, what do you think of the ComCom decision? Why

752
00:38:41,120 --> 00:38:41,880
Speaker 2: do they make it.

753
00:38:43,480 --> 00:38:45,920
Speaker 22: Look we're not clear on the why yet. We've got

754
00:38:45,960 --> 00:38:49,319
Speaker 22: a press release we've seen today. We have been told

755
00:38:49,400 --> 00:38:52,320
Speaker 22: that we will get the full explanation of the decision

756
00:38:52,320 --> 00:38:55,400
Speaker 22: by the twenty third of October. You know, we'll do

757
00:38:55,640 --> 00:38:57,960
Speaker 22: the right thing, which is to wait for that and

758
00:38:58,040 --> 00:39:01,400
Speaker 22: read it through and properly understand it and understand the

759
00:39:01,400 --> 00:39:03,120
Speaker 22: points that are in there. But at this point in time,

760
00:39:03,160 --> 00:39:07,080
Speaker 22: we don't understand why we have failed to be successful,

761
00:39:07,120 --> 00:39:10,040
Speaker 22: which with what is a pretty known legal test for

762
00:39:10,120 --> 00:39:10,720
Speaker 22: these events.

763
00:39:11,080 --> 00:39:13,040
Speaker 2: Yeah, I mean, I mean the question is whether or

764
00:39:13,080 --> 00:39:18,719
Speaker 2: not going from what the ComCom says as effectively three buyers,

765
00:39:18,719 --> 00:39:22,719
Speaker 2: but having those two separate entities become one will mean

766
00:39:22,719 --> 00:39:25,759
Speaker 2: that from a suppliers perspective, you as the buyer have

767
00:39:25,880 --> 00:39:28,680
Speaker 2: more power or less power than before. And in the

768
00:39:28,680 --> 00:39:31,000
Speaker 2: eyes of some going from two to one will mean

769
00:39:31,000 --> 00:39:33,640
Speaker 2: you have more power when negotiating with supplies.

770
00:39:33,719 --> 00:39:33,919
Speaker 11: Right.

771
00:39:35,000 --> 00:39:39,040
Speaker 22: Yeah, Look, I think the acquisition market argument that it

772
00:39:39,200 --> 00:39:41,359
Speaker 22: was mentioned in the press release and we'll wait for

773
00:39:41,400 --> 00:39:45,600
Speaker 22: the detail, but essentially what we have today is an

774
00:39:45,680 --> 00:39:48,560
Speaker 22: organization that buys in the North Island and another organization

775
00:39:48,600 --> 00:39:50,920
Speaker 22: that buys on the South Island in terms of the

776
00:39:51,040 --> 00:39:55,719
Speaker 22: large grocery retailers that sits alongside our competition war Worse Australia,

777
00:39:56,320 --> 00:39:59,200
Speaker 22: and what we would have after a merger is two

778
00:39:59,239 --> 00:40:01,719
Speaker 22: players in the North and the South Island, each so

779
00:40:02,480 --> 00:40:05,800
Speaker 22: our view was it doesn't change the number of channels

780
00:40:05,800 --> 00:40:08,719
Speaker 22: available to supplies. For one hundred and two years, we've

781
00:40:08,760 --> 00:40:10,960
Speaker 22: been really proud to work alongside a hip hop New

782
00:40:11,040 --> 00:40:14,120
Speaker 22: Zealand supplieres and bring them to life through one store

783
00:40:14,120 --> 00:40:16,600
Speaker 22: at a time, or ten stores, or one region or

784
00:40:16,640 --> 00:40:18,320
Speaker 22: one of our three retail manners.

785
00:40:18,360 --> 00:40:19,879
Speaker 5: So all of.

786
00:40:19,800 --> 00:40:22,279
Speaker 22: Those things we think we're part of the reason why

787
00:40:22,320 --> 00:40:24,840
Speaker 22: we saw benefit in this for our supplier partners.

788
00:40:24,960 --> 00:40:25,959
Speaker 2: Is this going to the High Court?

789
00:40:27,600 --> 00:40:30,320
Speaker 22: Look, we're going to wait until we get the determination

790
00:40:30,440 --> 00:40:33,440
Speaker 22: document from the Commission. We'll properly read it and consider

791
00:40:33,480 --> 00:40:33,920
Speaker 22: it openly.

792
00:40:34,040 --> 00:40:34,560
Speaker 2: That's option.

793
00:40:34,719 --> 00:40:38,279
Speaker 22: But based on what we know today, we can't see

794
00:40:38,280 --> 00:40:41,160
Speaker 22: why we've failed the legal test here and if there

795
00:40:41,200 --> 00:40:44,040
Speaker 22: isn't anything new from the process we've been in for

796
00:40:44,040 --> 00:40:45,960
Speaker 22: the last ten months, we would likely appeal this.

797
00:40:46,320 --> 00:40:49,240
Speaker 2: Thanks Chris, appreciate it. That is Chris quin food Stuff's

798
00:40:49,239 --> 00:40:51,680
Speaker 2: North Island CEO ninety two. Ninety two is the text

799
00:40:51,719 --> 00:40:53,919
Speaker 2: number if you want to contact us, it's fourteen past five.

800
00:40:55,280 --> 00:40:58,160
Speaker 2: If you're a business owner manager with annual revenue of

801
00:40:58,200 --> 00:41:01,080
Speaker 2: more than three million, you know that six doesn't happen

802
00:41:01,120 --> 00:41:04,560
Speaker 2: by accident, right, You're probably used to doing most things yourself.

803
00:41:04,640 --> 00:41:08,640
Speaker 2: You work hard, and you often feel quite alone. Well

804
00:41:08,680 --> 00:41:11,520
Speaker 2: you're not alone. You are not alone. Lots of people

805
00:41:11,560 --> 00:41:13,840
Speaker 2: like you get to a point where you don't know

806
00:41:13,880 --> 00:41:16,319
Speaker 2: who to talk to or who you can trust. And

807
00:41:16,400 --> 00:41:19,279
Speaker 2: the ice House is a business growth hub and their

808
00:41:19,320 --> 00:41:23,040
Speaker 2: Owner Manager program is for you learn more about business

809
00:41:23,120 --> 00:41:26,080
Speaker 2: and develop new skills in an environment with light minded

810
00:41:26,120 --> 00:41:29,360
Speaker 2: people all facing the same issues that you're facing. The

811
00:41:29,440 --> 00:41:33,120
Speaker 2: ice House isn't like university programs such as an MBA.

812
00:41:33,360 --> 00:41:37,920
Speaker 2: It's more practical, less academic, with top shelf coaches and facilitators.

813
00:41:38,320 --> 00:41:41,399
Speaker 2: The Owner Manager program is immersive, hands on and you're

814
00:41:41,440 --> 00:41:44,800
Speaker 2: accountable to yourself all the way through. It's a lifelong

815
00:41:44,840 --> 00:41:48,719
Speaker 2: experience like group therapy for your business. So take your

816
00:41:48,719 --> 00:41:51,080
Speaker 2: business to the next level with the ice House. Enroll

817
00:41:51,160 --> 00:41:54,760
Speaker 2: in the next Owner Manager program in February. Grow Smarter,

818
00:41:55,120 --> 00:41:59,520
Speaker 2: Grow Faster The ice House dot co dot nz Jack

819
00:41:59,640 --> 00:42:02,319
Speaker 2: d eighteen past five on news Talk Z'DB. They are

820
00:42:02,440 --> 00:42:06,480
Speaker 2: simultaneously the most loved and maybe most detested shoes of

821
00:42:06,520 --> 00:42:11,040
Speaker 2: all time. Crocs are causing trouble and acc is being

822
00:42:11,120 --> 00:42:13,520
Speaker 2: left to foot the bill. So we've just reached October

823
00:42:13,600 --> 00:42:16,960
Speaker 2: and already have had more CROC related injuries this year

824
00:42:17,040 --> 00:42:20,000
Speaker 2: than last year. Nearly two million dollars has been paid

825
00:42:20,000 --> 00:42:23,879
Speaker 2: out to people with full related claims involving jandles, high

826
00:42:23,920 --> 00:42:28,960
Speaker 2: heels and crocs and acc injury Prevention spokesperson James Whittaker

827
00:42:29,160 --> 00:42:33,759
Speaker 2: joins us now kelder James, Hey, Jack, how do you

828
00:42:33,840 --> 00:42:35,120
Speaker 2: hurt yourself in a croc?

829
00:42:36,280 --> 00:42:39,320
Speaker 5: Well, most people are like bolling their ankles or slipping,

830
00:42:40,200 --> 00:42:43,640
Speaker 5: but also they might not wear them at the right time.

831
00:42:44,040 --> 00:42:47,040
Speaker 5: So crocs might be if you're just being around a

832
00:42:47,040 --> 00:42:50,520
Speaker 5: barbecue or standing there at the beach, but maybe people

833
00:42:50,560 --> 00:42:53,200
Speaker 5: are doing other things on them too, like running or

834
00:42:53,320 --> 00:42:54,319
Speaker 5: you know anything else.

835
00:42:54,560 --> 00:42:58,359
Speaker 2: People are running and crocs. Is it a kind of I.

836
00:42:58,320 --> 00:42:59,759
Speaker 5: Have seen it. I have seen it.

837
00:43:00,440 --> 00:43:00,560
Speaker 23: Hey.

838
00:43:01,120 --> 00:43:04,080
Speaker 5: The really important thing is or should wear whatever shows

839
00:43:04,120 --> 00:43:07,120
Speaker 5: they want to, but at the right occasion. Right, So

840
00:43:07,160 --> 00:43:09,759
Speaker 5: we have sense, as you could call it. But the

841
00:43:09,800 --> 00:43:12,759
Speaker 5: other important thing that listeners should know is that this

842
00:43:12,920 --> 00:43:16,040
Speaker 5: is a tiny problem, and it's a small problem can

843
00:43:16,080 --> 00:43:19,200
Speaker 5: bet a much bigger problem with falls.

844
00:43:19,239 --> 00:43:19,600
Speaker 13: Falls.

845
00:43:21,920 --> 00:43:23,640
Speaker 2: Oh, hang on, James, we're losing you there. We'll see

846
00:43:23,640 --> 00:43:24,759
Speaker 2: if we can get a nice and clear So I

847
00:43:24,760 --> 00:43:26,760
Speaker 2: think James was saying that the falls were a problem.

848
00:43:26,840 --> 00:43:31,000
Speaker 2: So if you break down those full related claims from

849
00:43:31,040 --> 00:43:34,560
Speaker 2: those three different sorts of shoe, the sort of shoe

850
00:43:34,560 --> 00:43:36,560
Speaker 2: that has evolved with the highest number of claims for

851
00:43:36,600 --> 00:43:39,640
Speaker 2: acc is jendles, then it's high heels. I'm getting a

852
00:43:39,640 --> 00:43:41,600
Speaker 2: little bit surprised by that. You'd almost be high heels

853
00:43:41,600 --> 00:43:44,040
Speaker 2: to be better. Crops comes in through what were you saying.

854
00:43:43,880 --> 00:43:48,200
Speaker 5: James, What I'm saying is crops and jandles are a

855
00:43:48,320 --> 00:43:51,359
Speaker 5: small part of a much bigger problem, which are trip

856
00:43:51,440 --> 00:43:55,520
Speaker 5: slips and falls in general. Because around seven hundred thousand

857
00:43:55,600 --> 00:43:59,440
Speaker 5: people have a fall related claim supported by a SEC

858
00:43:59,680 --> 00:44:02,760
Speaker 5: and any given year, and it costs around two billion

859
00:44:02,840 --> 00:44:05,680
Speaker 5: dollars to support as people. And each one of those

860
00:44:05,680 --> 00:44:08,799
Speaker 5: people would have their own story too, So they might

861
00:44:08,880 --> 00:44:11,480
Speaker 5: have what others seem to be a minor injury, you know,

862
00:44:11,600 --> 00:44:14,239
Speaker 5: like rolling the ankle or something, but they might be

863
00:44:14,280 --> 00:44:17,040
Speaker 5: into dancing well that they might have been about to

864
00:44:17,080 --> 00:44:19,640
Speaker 5: have a really important football game or something like that,

865
00:44:19,960 --> 00:44:22,319
Speaker 5: and then there's lots of slower and effects for their team,

866
00:44:22,480 --> 00:44:25,600
Speaker 5: perhaps their workmates and everything else too. And the cool

867
00:44:25,640 --> 00:44:28,120
Speaker 5: thing is it's all preventful if you wear the right

868
00:44:28,160 --> 00:44:31,160
Speaker 5: SHOs for the right occasion, you probably won't get injured.

869
00:44:31,719 --> 00:44:33,759
Speaker 5: Or you know, if you clear part in front of

870
00:44:33,800 --> 00:44:36,960
Speaker 5: you and make sure there's nothing to trip over, you

871
00:44:37,040 --> 00:44:40,040
Speaker 5: probably won't have that trip or that slip. The other

872
00:44:40,080 --> 00:44:42,680
Speaker 5: thing is some of your listeners might be over fifty

873
00:44:42,680 --> 00:44:45,160
Speaker 5: five years of age, and that can greatly reduce their

874
00:44:45,200 --> 00:44:48,680
Speaker 5: times of having a full by doing strength and balance

875
00:44:48,760 --> 00:44:52,359
Speaker 5: classes or by using this called the nimble app and

876
00:44:52,360 --> 00:44:55,640
Speaker 5: that's nimble with or y so n by NBL.

877
00:44:56,080 --> 00:44:59,120
Speaker 2: Very good. Okay, Hey, thanks your time, James, We appreciate it.

878
00:44:59,239 --> 00:45:02,120
Speaker 2: Just go with numbers. Ten of those claims, this isn't funny,

879
00:45:02,120 --> 00:45:05,320
Speaker 2: I shouldn't, I should laugh. Ten people were quote struck

880
00:45:05,360 --> 00:45:08,600
Speaker 2: by a person or animal while wearing crocs. I feel

881
00:45:08,600 --> 00:45:10,399
Speaker 2: like there's a story behind each one of those.

882
00:45:10,480 --> 00:45:10,640
Speaker 7: Right.

883
00:45:10,680 --> 00:45:13,480
Speaker 2: Twenty one plus five. On news talks, he'd be the.

884
00:45:13,520 --> 00:45:17,520
Speaker 1: Day's Newsweakers talk to Jack First, Jack dame On, Heather

885
00:45:17,640 --> 00:45:21,320
Speaker 1: Duplessy Alan drive with one New Zealand let's get connected

886
00:45:21,440 --> 00:45:22,120
Speaker 1: news talk.

887
00:45:22,120 --> 00:45:28,680
Speaker 2: Said be when cleaners earned wages, cleaners pay tax, When

888
00:45:28,680 --> 00:45:39,839
Speaker 2: truck drivers earn wages, truck drivers pay tax. When teachers, paramedics, plumbers, receptionists, doctors, designers, mechanics,

889
00:45:39,880 --> 00:45:45,760
Speaker 2: office managers, sheer milkers, check out operators, mental health nurses.

890
00:45:46,520 --> 00:45:51,480
Speaker 2: When they earn wages, they pay tax. The people who

891
00:45:52,480 --> 00:45:57,160
Speaker 2: the people who staff dementia homes, the people who guard

892
00:45:57,400 --> 00:46:04,920
Speaker 2: dangerous prisoners, sparkys pickers, even the people who investigate and

893
00:46:05,080 --> 00:46:09,840
Speaker 2: clean up fatal car accidents, they all pay tax. Christopher

894
00:46:09,880 --> 00:46:13,440
Speaker 2: Luxon suggests that the questions about his property sales stem

895
00:46:13,480 --> 00:46:18,120
Speaker 2: from envy or because people resent his success. Now, I

896
00:46:18,200 --> 00:46:20,880
Speaker 2: just don't think that's the case. I think it's simply

897
00:46:20,920 --> 00:46:25,600
Speaker 2: a question of fairness. Why should someone who is aspirational,

898
00:46:26,480 --> 00:46:29,320
Speaker 2: someone who's getting off their butt and working multiple jobs

899
00:46:29,600 --> 00:46:33,120
Speaker 2: to make a better life for their family, who's sacrificing

900
00:46:33,160 --> 00:46:36,040
Speaker 2: time with their loved ones, who's sacrificing sleep, maybe even

901
00:46:36,200 --> 00:46:39,719
Speaker 2: sacrificing their health, why should they pay tax at the

902
00:46:39,800 --> 00:46:43,080
Speaker 2: marginal rate while someone else can make a six figure

903
00:46:43,120 --> 00:46:46,640
Speaker 2: profit buying and selling property within a few years and

904
00:46:46,680 --> 00:46:50,400
Speaker 2: not pay a cent. Look, maybe you'll argue that it's

905
00:46:50,440 --> 00:46:52,720
Speaker 2: a question of risk. Right, someone who's got the means

906
00:46:52,719 --> 00:46:55,680
Speaker 2: and the initiative to buy a property does so knowing

907
00:46:55,719 --> 00:46:59,680
Speaker 2: that profits are by no means guaranteed. If you're renting

908
00:46:59,719 --> 00:47:03,880
Speaker 2: it out, a tenant could cause damage, the market could sour.

909
00:47:04,400 --> 00:47:06,400
Speaker 2: You know, we all agree there's no such thing as

910
00:47:06,400 --> 00:47:10,000
Speaker 2: a one hundred percent safe and guaranteed investment, right, but

911
00:47:10,239 --> 00:47:14,640
Speaker 2: come on, the odds are pretty good. In recent decades,

912
00:47:14,680 --> 00:47:17,120
Speaker 2: property values in New Zealand have increased in value at

913
00:47:17,160 --> 00:47:21,120
Speaker 2: a rate much greater than inflation over time. How many

914
00:47:21,120 --> 00:47:24,399
Speaker 2: people who buy property make a net profit when they

915
00:47:24,440 --> 00:47:27,840
Speaker 2: sell it versus how many people make a net loss?

916
00:47:28,400 --> 00:47:31,560
Speaker 2: Do we really think that the investment risk is so

917
00:47:31,760 --> 00:47:37,120
Speaker 2: great that it justifies zero tax on that profit. Wouldn't

918
00:47:37,120 --> 00:47:41,239
Speaker 2: something be fair, something like five percent, ten percent on

919
00:47:41,280 --> 00:47:43,760
Speaker 2: the profit, not the marginal tax rate, but something.

920
00:47:45,000 --> 00:47:45,200
Speaker 11: Yeah.

921
00:47:45,280 --> 00:47:49,440
Speaker 2: Christopher Luxen says he gets questioned for being successful. Personally,

922
00:47:49,640 --> 00:47:51,879
Speaker 2: I don't resent his success for a moment. I think

923
00:47:52,080 --> 00:47:56,560
Speaker 2: success should be celebrated. But I do question how anyone

924
00:47:56,600 --> 00:48:00,680
Speaker 2: can think it's fair that someone trying to emulate that

925
00:48:00,760 --> 00:48:06,040
Speaker 2: success and getting ahead using their initiative, working fifty or

926
00:48:06,080 --> 00:48:09,880
Speaker 2: sixty hours a week, why that person should be taxed

927
00:48:09,920 --> 00:48:14,080
Speaker 2: on that income at the marginal rate. While a prime

928
00:48:14,080 --> 00:48:18,799
Speaker 2: minister or a politician or a broadcaster can theoretically make

929
00:48:18,800 --> 00:48:21,839
Speaker 2: a low risk investment a six figure profit, and not

930
00:48:22,200 --> 00:48:27,320
Speaker 2: pay a cent. Jack Team ninety two is the text number.

931
00:48:28,200 --> 00:48:29,880
Speaker 2: I'm sure no one's got any thoughts on that, so

932
00:48:29,920 --> 00:48:33,759
Speaker 2: that's a relief. Before six o'clock we'll get the other

933
00:48:33,760 --> 00:48:36,120
Speaker 2: the huddle thoughts of the Prime Minister's comments. I've got

934
00:48:36,160 --> 00:48:38,240
Speaker 2: to say, I do think the Prime Minister being questioned

935
00:48:38,239 --> 00:48:41,239
Speaker 2: about having SkyTV at Premier House is just totally in

936
00:48:41,320 --> 00:48:43,160
Speaker 2: reason why. Actually think most of the questions about Premier

937
00:48:43,160 --> 00:48:46,040
Speaker 2: House have been totally unreasonable. But I do think it's

938
00:48:46,200 --> 00:48:48,879
Speaker 2: entirely reasonable to ask about a tax policy for something

939
00:48:48,960 --> 00:48:52,439
Speaker 2: like a CGT. Coming up before six o'clock. New data

940
00:48:52,520 --> 00:48:56,640
Speaker 2: suggests that young men are increasingly turning to steroids and

941
00:48:56,719 --> 00:48:59,480
Speaker 2: similar drugs because of body imagicus. We'll tell you a

942
00:48:59,480 --> 00:49:01,920
Speaker 2: little bit about that. News is next, though it's almost

943
00:49:01,960 --> 00:49:03,319
Speaker 2: five thirty. On News Talks dB.

944
00:49:08,400 --> 00:49:10,920
Speaker 1: The name you trust to get the answers you need,

945
00:49:11,200 --> 00:49:14,560
Speaker 1: Jack Tame on Hither Duplessy Alan drive with one New

946
00:49:14,640 --> 00:49:20,800
Speaker 1: Zealand let's get connected. A news talk said b s Bread.

947
00:49:25,000 --> 00:49:30,080
Speaker 20: Baby, you blame me, baby, I blame you.

948
00:49:30,200 --> 00:49:31,760
Speaker 1: That antitude.

949
00:49:35,280 --> 00:49:37,799
Speaker 2: Us talks V you with Jack Tame, thank you for

950
00:49:37,920 --> 00:49:41,200
Speaker 2: your texts. Been in one or two Jack I'm totally

951
00:49:41,239 --> 00:49:42,600
Speaker 2: with you on the tax and working my butt off

952
00:49:42,600 --> 00:49:45,440
Speaker 2: to improve my life. Suddenly I lost all of my

953
00:49:45,480 --> 00:49:47,840
Speaker 2: hard work because psa hit key, we frute to value

954
00:49:47,840 --> 00:49:49,839
Speaker 2: my ass it by more than sixty percent. Now I'm

955
00:49:49,880 --> 00:49:52,239
Speaker 2: driving a bus and freight delivery just to make ends

956
00:49:52,280 --> 00:49:57,319
Speaker 2: meet Jack. What a crass ignorant we rant? That was

957
00:49:57,440 --> 00:50:00,400
Speaker 2: all of those jobs you listed day too. People who

958
00:50:00,400 --> 00:50:03,360
Speaker 2: will be able to buy and sell property. Yeah, I suppose.

959
00:50:03,480 --> 00:50:06,520
Speaker 2: I suppose. The big difference is, of course, the profity

960
00:50:06,560 --> 00:50:11,040
Speaker 2: prices relative to incomes are a little bit different today

961
00:50:11,120 --> 00:50:14,120
Speaker 2: than they were thirty years ago when many of the

962
00:50:14,160 --> 00:50:16,759
Speaker 2: people who own the assets board assets for the first time.

963
00:50:16,800 --> 00:50:17,960
Speaker 2: But I'll get to more of your texts in a

964
00:50:18,000 --> 00:50:20,600
Speaker 2: couple of minutes. After six o'clock this evening some pretty

965
00:50:20,600 --> 00:50:22,560
Speaker 2: good economic news, and I say prett good because I'm

966
00:50:22,560 --> 00:50:25,040
Speaker 2: going to qualify it in a second. So the latest

967
00:50:25,640 --> 00:50:29,640
Speaker 2: ended a quarterly survey of business opinion is out and

968
00:50:29,680 --> 00:50:33,320
Speaker 2: it shows that just five percent of Kiwi business owners

969
00:50:33,560 --> 00:50:37,120
Speaker 2: are now expecting the economy to deteriorate or trading conditions

970
00:50:37,160 --> 00:50:40,080
Speaker 2: to deteriorate, compared to forty percent three months ago. So

971
00:50:40,120 --> 00:50:43,040
Speaker 2: that's the difference that the ocr cuts have made. That

972
00:50:43,120 --> 00:50:45,880
Speaker 2: being said, you probably don't want too much confidence at

973
00:50:45,880 --> 00:50:49,399
Speaker 2: the stage going into that next monetary policy decision next

974
00:50:49,440 --> 00:50:52,040
Speaker 2: week Wednesday, next week, that the real debate is twenty

975
00:50:52,040 --> 00:50:55,600
Speaker 2: five or fifty basis points. But I suppose of confidence

976
00:50:56,480 --> 00:50:59,480
Speaker 2: across the economy was trickling down to higher prices than

977
00:50:59,480 --> 00:51:01,960
Speaker 2: that would mean that the Monetary Policy Committee might be

978
00:51:02,000 --> 00:51:04,600
Speaker 2: a little more reticent in making big cuts. But anyway,

979
00:51:04,600 --> 00:51:06,320
Speaker 2: we'll take a close look at that after six o'clock

980
00:51:06,320 --> 00:51:08,240
Speaker 2: this evening. Right now, it is twenty three.

981
00:51:08,120 --> 00:51:11,239
Speaker 3: Minutes to six, Jack team and.

982
00:51:11,160 --> 00:51:14,600
Speaker 2: Young men are turning to performance enhancing drugs like bodybuilding

983
00:51:14,719 --> 00:51:18,160
Speaker 2: steroids in order to change their appearance. Has been fueled

984
00:51:18,160 --> 00:51:21,560
Speaker 2: by fitness and gym content online, and conversations about using

985
00:51:21,600 --> 00:51:24,120
Speaker 2: the banded substances are becoming more popular in gyms around

986
00:51:24,120 --> 00:51:27,680
Speaker 2: the country. David Gerrard is an emeritus professor in sports

987
00:51:27,719 --> 00:51:32,279
Speaker 2: Medicine at Otago University. Good evening, Good evening, Jack, So

988
00:51:32,360 --> 00:51:35,200
Speaker 2: what kind of drugs are young men in particular.

989
00:51:34,960 --> 00:51:38,400
Speaker 13: Using, Well, Jack, The first thing is we have to

990
00:51:38,440 --> 00:51:41,160
Speaker 13: be very cautious about the use of the term steroids,

991
00:51:41,200 --> 00:51:44,880
Speaker 13: because I think what we're referring to here. Of course,

992
00:51:45,000 --> 00:51:50,640
Speaker 13: anabolic androgenic or masculinizing body building hormones, not the sort

993
00:51:50,640 --> 00:51:53,240
Speaker 13: of steroids that you and I would use to control

994
00:51:53,360 --> 00:51:56,680
Speaker 13: asthma or have an allergic condition. So I think we

995
00:51:56,800 --> 00:51:59,960
Speaker 13: clarify that one to begin with. We're talking here about

996
00:52:00,200 --> 00:52:05,200
Speaker 13: the illegal importation often and certainly the misuse of drugs

997
00:52:05,239 --> 00:52:10,040
Speaker 13: that were the preserve of medical science and clinicians who

998
00:52:10,080 --> 00:52:14,359
Speaker 13: have to deal with people who need testosterone replacement. It's

999
00:52:14,360 --> 00:52:19,480
Speaker 13: certainly not drugs to enhance the body image of young males.

1000
00:52:20,239 --> 00:52:22,239
Speaker 2: And what do you put it down to these guys

1001
00:52:22,280 --> 00:52:24,680
Speaker 2: who just want to look good on Instagram?

1002
00:52:24,800 --> 00:52:29,960
Speaker 13: Yeah, well, I guess I guess we know a lot, Jackle.

1003
00:52:30,040 --> 00:52:33,880
Speaker 13: We've read a lot, and appropriately so, about young females

1004
00:52:33,920 --> 00:52:37,960
Speaker 13: whose body image is affected by eating disorders and wanting

1005
00:52:38,000 --> 00:52:42,960
Speaker 13: to conform to the so called body image that's imposed

1006
00:52:43,000 --> 00:52:45,839
Speaker 13: by the influences. And by that, I guess we mean

1007
00:52:45,920 --> 00:52:50,360
Speaker 13: the culture of magazines and movie and TV. Same to

1008
00:52:50,400 --> 00:52:54,920
Speaker 13: the males. You know, the body shape that's perceived perceived

1009
00:52:54,920 --> 00:52:59,520
Speaker 13: as being ideal for a you know, a red blooded male.

1010
00:53:01,719 --> 00:53:03,640
Speaker 13: I guess this is where it is. It's a culture

1011
00:53:03,719 --> 00:53:06,279
Speaker 13: that's unfortunately crept in and it does seem to have

1012
00:53:06,360 --> 00:53:12,759
Speaker 13: its genesis in and around certain gymnasia and the ambience

1013
00:53:12,760 --> 00:53:13,600
Speaker 13: of that creates.

1014
00:53:14,840 --> 00:53:18,319
Speaker 2: So aside from being illegal, what is the problem with

1015
00:53:18,400 --> 00:53:18,960
Speaker 2: young men.

1016
00:53:18,880 --> 00:53:22,879
Speaker 24: Using these drugs, Well, the problem is jack that these

1017
00:53:22,880 --> 00:53:27,280
Speaker 24: were drugs, as I said, that really are for treating

1018
00:53:27,600 --> 00:53:32,320
Speaker 24: patients who require them, who need a male hormone replacement.

1019
00:53:32,400 --> 00:53:37,239
Speaker 13: And if a set healthy young male uses these drugs, well,

1020
00:53:37,280 --> 00:53:39,440
Speaker 13: for sure they will work in the sense that they

1021
00:53:39,480 --> 00:53:44,279
Speaker 13: will enhance muscle bulk, but they carry with them some

1022
00:53:44,520 --> 00:53:50,799
Speaker 13: very sinister side effects, including the male's impotence. The diminished

1023
00:53:50,840 --> 00:53:55,840
Speaker 13: activity of one's test is because you're receiving exogenous supplies

1024
00:53:55,880 --> 00:53:58,880
Speaker 13: of testosterone, so therefore your own body doesn't need to

1025
00:53:58,920 --> 00:54:03,239
Speaker 13: produce it. You've got a whole raft of diseases associated

1026
00:54:03,280 --> 00:54:07,160
Speaker 13: with the cardiovascular system, increased risk of heart attacks because

1027
00:54:07,160 --> 00:54:14,200
Speaker 13: of the profile of cholesterol and triglycerides and lipids, mood changes.

1028
00:54:15,000 --> 00:54:19,560
Speaker 13: Guys who are using these drugs in an uncontrolled way

1029
00:54:19,680 --> 00:54:24,560
Speaker 13: can show uncharacteristic aggression, and there's a whole array of

1030
00:54:25,680 --> 00:54:29,040
Speaker 13: mood changes that are seen and people. Then there's the

1031
00:54:29,920 --> 00:54:34,680
Speaker 13: risk of certain forms of cancer associated with long term,

1032
00:54:35,640 --> 00:54:38,960
Speaker 13: prolonged use of anabolic steel wids. So there's a whole

1033
00:54:39,880 --> 00:54:43,200
Speaker 13: raft of reasons why young men should not be dabbling

1034
00:54:43,239 --> 00:54:45,279
Speaker 13: in this in an uncontrolled way.

1035
00:54:45,560 --> 00:54:47,719
Speaker 2: Yeah, hey, thanks for your tome, Dove. We appreciate it.

1036
00:54:47,719 --> 00:54:51,160
Speaker 2: That was David Gerrod, who is an emeritus professor in

1037
00:54:51,160 --> 00:54:53,360
Speaker 2: Sports Medicine at Otago University.

1038
00:54:53,440 --> 00:54:55,279
Speaker 3: Is nineteen to six The Huddle.

1039
00:54:55,280 --> 00:55:00,239
Speaker 1: With New Zealand Sutherby's International Realty, Local and Global Exposure Lightening.

1040
00:55:00,680 --> 00:55:03,200
Speaker 2: The Huddle this evening Philo Riley, Iron Duke Partners and

1041
00:55:03,239 --> 00:55:05,680
Speaker 2: former Boss of Business New Zealand and Alie Jones from

1042
00:55:05,719 --> 00:55:10,399
Speaker 2: Red PRK Elder Cordawa. Jack, Hey, Pphil, do you reckon

1043
00:55:10,480 --> 00:55:12,400
Speaker 2: this is something that we overlook when we think about

1044
00:55:12,760 --> 00:55:15,239
Speaker 2: you know, body I magician's affecting young people. A lot

1045
00:55:15,280 --> 00:55:17,680
Speaker 2: of the focuses on young women. But do you think

1046
00:55:17,719 --> 00:55:20,000
Speaker 2: this is something that perhaps has been a little overlooked.

1047
00:55:20,520 --> 00:55:23,080
Speaker 7: Oh, Ye're absolutely right, Jack. There's always a been a

1048
00:55:23,120 --> 00:55:26,000
Speaker 7: bit of this ione I remember living in Sydney, you know,

1049
00:55:26,080 --> 00:55:28,800
Speaker 7: twenty five thirty years ago in some gyms in Sydney

1050
00:55:29,400 --> 00:55:31,239
Speaker 7: there was I think called roid rage, you know, where

1051
00:55:31,239 --> 00:55:33,160
Speaker 7: the steroids were in use to they get these mood

1052
00:55:33,200 --> 00:55:34,560
Speaker 7: changes and so on. But of course it was a

1053
00:55:34,680 --> 00:55:38,160
Speaker 7: very niche thing. And what's happened is the emeritus professor

1054
00:55:38,160 --> 00:55:41,520
Speaker 7: there is absolutely right. What's happening is actually social media.

1055
00:55:41,600 --> 00:55:43,919
Speaker 7: He mentioned movies and stuff as not movies. It's social media.

1056
00:55:43,960 --> 00:55:47,960
Speaker 7: It's Instagram, it's TikTok, it's Facebook, it's the kinds of these,

1057
00:55:48,000 --> 00:55:50,879
Speaker 7: the kinds of social media outlets that the young people

1058
00:55:50,920 --> 00:55:53,279
Speaker 7: are using these days, and that is causing some of

1059
00:55:53,360 --> 00:55:56,239
Speaker 7: these problems as well as other social changes. You know

1060
00:55:56,320 --> 00:55:58,960
Speaker 7: that the kids aren't be allowed out to play in

1061
00:55:59,040 --> 00:56:00,680
Speaker 7: the park and so on, so they stay inside and

1062
00:56:00,719 --> 00:56:03,120
Speaker 7: watch social media and so on. So there's a real

1063
00:56:03,160 --> 00:56:06,640
Speaker 7: issue here about the popularization of this these body images.

1064
00:56:06,680 --> 00:56:09,319
Speaker 7: And you're absolutely right. We concentrate a lot on young women,

1065
00:56:09,400 --> 00:56:11,520
Speaker 7: and that's entirely appropriate. We do that because there's some

1066
00:56:11,560 --> 00:56:14,640
Speaker 7: real risk risks there. But we're also needing to have

1067
00:56:14,680 --> 00:56:17,000
Speaker 7: a look at young men because they've got similar and

1068
00:56:17,160 --> 00:56:21,480
Speaker 7: also different issues associated with the social media issue. And

1069
00:56:21,560 --> 00:56:23,040
Speaker 7: so I think we need to as a nation ever

1070
00:56:23,120 --> 00:56:26,480
Speaker 7: think about this. And yeah, banning cell phones from schools

1071
00:56:26,560 --> 00:56:27,439
Speaker 7: is just one good step.

1072
00:56:27,560 --> 00:56:29,640
Speaker 2: Oh you see, I'm one hundred percent with you on this. Well,

1073
00:56:29,719 --> 00:56:32,040
Speaker 2: I just I can't understand the opposition to cell phones

1074
00:56:32,040 --> 00:56:33,680
Speaker 2: and schools. And I know that maybe it seems a

1075
00:56:33,680 --> 00:56:36,520
Speaker 2: bit trite and easily just to blame social media for

1076
00:56:36,600 --> 00:56:39,560
Speaker 2: these kinds of trends, but it seems so obviously I

1077
00:56:39,680 --> 00:56:41,880
Speaker 2: assurely social media is having a negative impact.

1078
00:56:42,600 --> 00:56:43,320
Speaker 19: Well, of course it is.

1079
00:56:43,360 --> 00:56:45,680
Speaker 25: I mean, I'm in my fifties, our kids are now

1080
00:56:45,760 --> 00:56:47,920
Speaker 25: sort of in their twenties. But I've got a girlfriend

1081
00:56:47,920 --> 00:56:49,920
Speaker 25: who works at a high school in christ Church and

1082
00:56:50,480 --> 00:56:52,759
Speaker 25: she is saying that a lot of the stuff that

1083
00:56:52,840 --> 00:56:57,200
Speaker 25: they're seeing in the kids, the anxiety, the you know,

1084
00:56:57,360 --> 00:57:01,200
Speaker 25: set in guessing, the body image stuff is all related

1085
00:57:01,320 --> 00:57:03,879
Speaker 25: to social media. What I really liked that I heard

1086
00:57:03,960 --> 00:57:08,480
Speaker 25: from the professor then, was he mentioned women, And I

1087
00:57:08,520 --> 00:57:11,440
Speaker 25: think that's really important and filtered too, and it shouldn't

1088
00:57:11,440 --> 00:57:14,279
Speaker 25: be a competition, right, But you know, women have been

1089
00:57:14,320 --> 00:57:17,680
Speaker 25: dealing with this decades and decades, and in fact, there

1090
00:57:17,840 --> 00:57:21,400
Speaker 25: isn't the health support around this for women, and we

1091
00:57:21,560 --> 00:57:23,800
Speaker 25: need to. I mean, young women are being sent home

1092
00:57:24,000 --> 00:57:26,800
Speaker 25: in christ Church to die, and I know that I'm

1093
00:57:26,880 --> 00:57:29,800
Speaker 25: not just making that up, but they cannot look after them.

1094
00:57:30,040 --> 00:57:31,680
Speaker 25: They're sending them home to die. So I think there

1095
00:57:31,720 --> 00:57:34,440
Speaker 25: needs to be a public information campaign. It needs to

1096
00:57:34,480 --> 00:57:37,080
Speaker 25: get into schools, you know, to hear those things that

1097
00:57:37,160 --> 00:57:42,200
Speaker 25: he was talking about, anxiety, mental health, impotence, fertility, cancer. Man,

1098
00:57:42,320 --> 00:57:45,400
Speaker 25: get it into the schools and start saying is it

1099
00:57:45,520 --> 00:57:45,920
Speaker 25: worth this?

1100
00:57:46,240 --> 00:57:46,600
Speaker 26: Do you think?

1101
00:57:46,880 --> 00:57:47,080
Speaker 9: Yeah?

1102
00:57:47,280 --> 00:57:48,800
Speaker 2: All right, guys, I'm going to get your thoughts on

1103
00:57:49,040 --> 00:57:51,360
Speaker 2: the Prime Minister's comments today in a couple of minutes

1104
00:57:51,400 --> 00:57:55,440
Speaker 2: plus news that crocs are apparently causing US hundreds of thousands,

1105
00:57:55,480 --> 00:57:57,960
Speaker 2: if not millions of dollars in health claims every year.

1106
00:57:58,360 --> 00:58:00,400
Speaker 2: Alie Jones and Phil O'Riley on the Hut right now

1107
00:58:00,440 --> 00:58:01,640
Speaker 2: at sixteen to sex.

1108
00:58:02,480 --> 00:58:06,160
Speaker 1: The Huddle with New Zealand Southeby's International Realty, elevate the

1109
00:58:06,280 --> 00:58:07,560
Speaker 1: marketing of your home.

1110
00:58:08,080 --> 00:58:10,400
Speaker 2: And you're back with the Huddler's fell O'Riley, Iron Duke

1111
00:58:10,440 --> 00:58:13,080
Speaker 2: Partner's former boss of Businesses Zealand and Alie Jones from

1112
00:58:13,120 --> 00:58:15,160
Speaker 2: Red PR. So, Ali, what do you make of the

1113
00:58:15,240 --> 00:58:18,480
Speaker 2: Prime Minister's response to the scrutiny or attention over the

1114
00:58:18,560 --> 00:58:19,640
Speaker 2: sale of his properties.

1115
00:58:20,640 --> 00:58:23,439
Speaker 25: He's out of touch. He is absolutely out of touch.

1116
00:58:23,520 --> 00:58:26,480
Speaker 25: It is not about resenting his wealth or someone who's successful.

1117
00:58:26,520 --> 00:58:28,240
Speaker 25: I do think we have a tall poppy problem in

1118
00:58:28,320 --> 00:58:31,280
Speaker 25: New Zealand. But you know you have to point the

1119
00:58:31,320 --> 00:58:33,640
Speaker 25: finger where it's correct to do so. I think it's

1120
00:58:33,680 --> 00:58:36,400
Speaker 25: about what's reasonable and what is not reasonable, And I

1121
00:58:36,440 --> 00:58:38,600
Speaker 25: think what is not reasonable in this case is that

1122
00:58:38,880 --> 00:58:41,360
Speaker 25: someone makes that amount of money from selling a house,

1123
00:58:41,720 --> 00:58:45,400
Speaker 25: which is essentially income and isn't taxed, and yet everyone

1124
00:58:45,480 --> 00:58:49,200
Speaker 25: else earning twenty k, twenty five k, thirty K, fifty k, whatever,

1125
00:58:49,840 --> 00:58:53,240
Speaker 25: they are taxed for their income. Now, if Christopher Luxen

1126
00:58:53,360 --> 00:58:57,040
Speaker 25: and others can't see that they should be taxed for

1127
00:58:57,480 --> 00:59:00,720
Speaker 25: making that will making any money from the of a property,

1128
00:59:01,000 --> 00:59:02,840
Speaker 25: they're out of touch, completely.

1129
00:59:02,480 --> 00:59:02,960
Speaker 8: Out of touch.

1130
00:59:03,440 --> 00:59:05,080
Speaker 2: Well, I don't think they're out of touch with a

1131
00:59:05,120 --> 00:59:07,800
Speaker 2: lot of our listeners, because I know that a lot

1132
00:59:07,840 --> 00:59:10,360
Speaker 2: of people will support Christopher Luxe in in this position.

1133
00:59:10,440 --> 00:59:12,240
Speaker 2: But I don't know. In my view, it's a question

1134
00:59:12,320 --> 00:59:12,720
Speaker 2: of fairness.

1135
00:59:12,760 --> 00:59:15,200
Speaker 7: What do you think, Phil, Well, of course we're going

1136
00:59:15,240 --> 00:59:17,080
Speaker 7: to have the Prime minister. Where's a proxy for this

1137
00:59:17,240 --> 00:59:20,080
Speaker 7: debate that the Left appears to want to continue or

1138
00:59:20,160 --> 00:59:22,320
Speaker 7: gain text with what we want to charge them a

1139
00:59:22,400 --> 00:59:25,520
Speaker 7: wealth tax too? So soon it's just we're using him

1140
00:59:25,520 --> 00:59:28,240
Speaker 7: as a proxy for a wider debate, and that's entirely appropriate.

1141
00:59:28,280 --> 00:59:32,200
Speaker 7: That's I understand he's the Prime minister. Here's the danger, Jack, Yeah.

1142
00:59:32,680 --> 00:59:34,240
Speaker 7: Other people will be listening to all of that and

1143
00:59:34,280 --> 00:59:36,120
Speaker 7: seeing that, seeing the stuff he's going through, whether he's

1144
00:59:36,160 --> 00:59:38,200
Speaker 7: handling it well or not, and I'll be saying, gee,

1145
00:59:38,240 --> 00:59:39,800
Speaker 7: I'm not sure I want to stand for political office,

1146
00:59:39,800 --> 00:59:41,760
Speaker 7: so this is going to go on about my personal affairs.

1147
00:59:42,040 --> 00:59:44,320
Speaker 7: So I just need to be a bit cautious about

1148
00:59:44,320 --> 00:59:47,160
Speaker 7: this kind of gotcha politics around politicians off left all

1149
00:59:47,200 --> 00:59:49,560
Speaker 7: the right, and because all it does is it says

1150
00:59:50,000 --> 00:59:51,800
Speaker 7: less good people will stand up and say, you know,

1151
00:59:51,920 --> 00:59:54,240
Speaker 7: I'll stand for parliament. I'll make a contribution. And that's

1152
00:59:54,280 --> 00:59:55,960
Speaker 7: what he said he was trying to do. By the way,

1153
00:59:56,800 --> 00:59:58,960
Speaker 7: he didn't make his money through his parents or anything else,

1154
00:59:59,360 --> 01:00:01,320
Speaker 7: made it himself. We should be celebrating that in New

1155
01:00:01,400 --> 01:00:03,280
Speaker 7: Zealand and not turning it into a bit of a

1156
01:00:03,880 --> 01:00:06,240
Speaker 7: you know, a cat call about the texts.

1157
01:00:07,120 --> 01:00:09,320
Speaker 25: I think that's that's not fair. Now I'm going to

1158
01:00:09,400 --> 01:00:11,600
Speaker 25: jump in here. That is not fair when you've got

1159
01:00:11,680 --> 01:00:14,480
Speaker 25: someone who's making over two hundred K on the sale

1160
01:00:14,480 --> 01:00:17,439
Speaker 25: of a property, and this is someone who's quite happy

1161
01:00:17,480 --> 01:00:20,920
Speaker 25: to tax New Zealanders who are struggling earning money. I think,

1162
01:00:20,960 --> 01:00:21,600
Speaker 25: as you said.

1163
01:00:21,440 --> 01:00:22,120
Speaker 8: Before, Jack, to.

1164
01:00:23,640 --> 01:00:24,640
Speaker 7: Look at game a tax cut.

1165
01:00:24,880 --> 01:00:26,840
Speaker 25: Yeah, but it doesn't work. He gives us mates a

1166
01:00:26,920 --> 01:00:27,480
Speaker 25: tax cut.

1167
01:00:27,560 --> 01:00:27,760
Speaker 17: Phil.

1168
01:00:27,840 --> 01:00:30,080
Speaker 25: What he needs to understand is that what he's making

1169
01:00:30,160 --> 01:00:32,480
Speaker 25: on selling a property and what everyone else is is

1170
01:00:32,760 --> 01:00:35,440
Speaker 25: essentially income. Why should he be any different to anyone

1171
01:00:35,520 --> 01:00:36,480
Speaker 25: else making income.

1172
01:00:37,360 --> 01:00:39,400
Speaker 7: So have a debate about capital games tax don't need

1173
01:00:39,400 --> 01:00:40,560
Speaker 7: to pull luctionin into it's my point.

1174
01:00:40,720 --> 01:00:40,919
Speaker 11: Yeah.

1175
01:00:40,960 --> 01:00:43,240
Speaker 2: So Phil, just on your point though, like, don't you

1176
01:00:43,280 --> 01:00:46,280
Speaker 2: think as Prime minister, given like tax policy is so

1177
01:00:46,720 --> 01:00:51,160
Speaker 2: central to central government politics and central to his role,

1178
01:00:51,760 --> 01:00:54,120
Speaker 2: don't you think it is kind of really important that

1179
01:00:54,200 --> 01:00:57,240
Speaker 2: actually we do look at tax policy through the lens

1180
01:00:57,320 --> 01:00:58,280
Speaker 2: of his own experience.

1181
01:00:58,880 --> 01:00:59,080
Speaker 11: Yeah.

1182
01:00:59,120 --> 01:01:00,520
Speaker 7: Sure, I mean it is a thing. He's Prime minister.

1183
01:01:00,560 --> 01:01:02,200
Speaker 7: He's a big boy, can stand up for it, and

1184
01:01:03,160 --> 01:01:06,080
Speaker 7: he did today with doally good job down to people

1185
01:01:06,120 --> 01:01:08,959
Speaker 7: to judge. My point is we need to make sure

1186
01:01:09,040 --> 01:01:11,720
Speaker 7: that we don't just jump all over politicians of the

1187
01:01:11,800 --> 01:01:13,440
Speaker 7: left all the right. I've seen this happened to politicians

1188
01:01:13,480 --> 01:01:16,400
Speaker 7: of the left and the rights using personal circumstances to

1189
01:01:16,520 --> 01:01:18,760
Speaker 7: really have a red hot go and what we what

1190
01:01:18,800 --> 01:01:22,600
Speaker 7: we'll see is good people will say that public life

1191
01:01:22,680 --> 01:01:23,960
Speaker 7: is not for me, and that's a bad thing for

1192
01:01:24,040 --> 01:01:27,040
Speaker 7: out democracy. So we should just be cautious about overdoing

1193
01:01:27,080 --> 01:01:28,360
Speaker 7: this and turning on I think he's a.

1194
01:01:28,360 --> 01:01:30,920
Speaker 25: Big boy, Phil, I think he's a big boy. If

1195
01:01:30,960 --> 01:01:32,760
Speaker 25: he can't manage that, he shouldn't be there.

1196
01:01:33,320 --> 01:01:35,360
Speaker 7: He might be, but others might not be. They might

1197
01:01:35,440 --> 01:01:36,960
Speaker 7: be thinking, I don't want to into political life.

1198
01:01:37,120 --> 01:01:41,280
Speaker 2: Yeah, I don't. I want to have my own affairs affairs. Yeah, Hey, Phil,

1199
01:01:41,800 --> 01:01:43,840
Speaker 2: are you a crocs kind of guy?

1200
01:01:45,680 --> 01:01:45,880
Speaker 11: Mate?

1201
01:01:45,920 --> 01:01:48,560
Speaker 7: I have banned two types of shoes in my office.

1202
01:01:48,680 --> 01:01:50,880
Speaker 7: One is that and one is Birkenstocks. It's a it's

1203
01:01:50,920 --> 01:01:53,520
Speaker 7: a dismissive of my staff. Will tell you if they

1204
01:01:53,560 --> 01:01:55,479
Speaker 7: were either of those in the office, Crocs the worst.

1205
01:01:55,480 --> 01:01:57,760
Speaker 7: They should just ban them. They should be taken off

1206
01:01:57,800 --> 01:01:59,360
Speaker 7: the face of the earth. These things there. Not only

1207
01:01:59,440 --> 01:02:01,919
Speaker 7: are they danger as we now see, they're also ugly,

1208
01:02:02,080 --> 01:02:03,680
Speaker 7: and so I just take of you. If I see

1209
01:02:03,680 --> 01:02:06,320
Speaker 7: people on crocs, you know, leave my office. Please go

1210
01:02:06,520 --> 01:02:07,240
Speaker 7: go do something else.

1211
01:02:07,560 --> 01:02:10,000
Speaker 2: Yeah, what do you think, Elie, I'm I'm well, I'm

1212
01:02:10,040 --> 01:02:12,960
Speaker 2: surprised to learn that they're linked to so many injuries.

1213
01:02:13,400 --> 01:02:16,080
Speaker 25: Oh look, it was a clickbait headline crocs shot the

1214
01:02:16,160 --> 01:02:18,000
Speaker 25: shoes that cost ACC to million.

1215
01:02:18,040 --> 01:02:18,840
Speaker 2: What a load of rubbish.

1216
01:02:18,880 --> 01:02:21,520
Speaker 25: ACC paid out nearly two million to people with full

1217
01:02:21,600 --> 01:02:25,200
Speaker 25: related claims involving jandles, high heels and crops.

1218
01:02:25,400 --> 01:02:26,520
Speaker 8: And I just want to mention to you.

1219
01:02:26,680 --> 01:02:28,880
Speaker 25: Do you know how many claims going for people getting

1220
01:02:28,880 --> 01:02:31,360
Speaker 25: their toes stuck in pajama trousers and falling over?

1221
01:02:31,520 --> 01:02:33,560
Speaker 3: Oh go on, there is a massive number.

1222
01:02:33,640 --> 01:02:33,960
Speaker 2: I don't know.

1223
01:02:34,000 --> 01:02:34,720
Speaker 23: I read it somewhere.

1224
01:02:34,720 --> 01:02:37,680
Speaker 25: I thought you might know that it's it's a significant number.

1225
01:02:37,800 --> 01:02:40,200
Speaker 25: So what do I think we should bam pajamas as well?

1226
01:02:41,840 --> 01:02:42,040
Speaker 12: Yeah?

1227
01:02:43,600 --> 01:02:46,600
Speaker 2: Everything, tax everything, that's us. Hey, thank you so much, guys.

1228
01:02:46,680 --> 01:02:49,240
Speaker 2: I appreciate your time. This evening fellow Riley and Ellie

1229
01:02:49,320 --> 01:02:52,360
Speaker 2: Jones Huddler's this evening after six o'clo, we're going to

1230
01:02:52,400 --> 01:02:55,960
Speaker 2: catch up with Brad Olsen from Inframetrics. The latest construction

1231
01:02:56,080 --> 01:02:59,200
Speaker 2: consents data is out shows a twenty percent drop year

1232
01:02:59,240 --> 01:03:02,800
Speaker 2: on year, and of course, even if the Reserve Bank

1233
01:03:02,840 --> 01:03:04,880
Speaker 2: continues cutting the OCA, there's likely to be a bit

1234
01:03:04,880 --> 01:03:07,720
Speaker 2: of a lag, a bit of a delay as to

1235
01:03:07,800 --> 01:03:10,640
Speaker 2: how long that takes to flow through to the construction

1236
01:03:10,760 --> 01:03:14,760
Speaker 2: sector at large. That being said, Infrastructure and Housing Minister

1237
01:03:14,840 --> 01:03:17,360
Speaker 2: Chris Bishop has some big plans for his portfolios in

1238
01:03:17,440 --> 01:03:19,960
Speaker 2: the coming month, so I'll ask Brad Olsen how those

1239
01:03:20,040 --> 01:03:24,440
Speaker 2: central government policy changes might impact the construction sector over

1240
01:03:24,440 --> 01:03:25,960
Speaker 2: the next week. While right now it's eight to six,

1241
01:03:26,080 --> 01:03:28,960
Speaker 2: you'll projectame on Newstalk ZB, on.

1242
01:03:29,040 --> 01:03:31,680
Speaker 1: Your smart speaker, on the iHeart app, and in your

1243
01:03:31,760 --> 01:03:35,600
Speaker 1: car on your drive home. Heather Duplic Allen drive with

1244
01:03:35,840 --> 01:03:39,760
Speaker 1: one New Zealand one giant Leap for Business News Talk.

1245
01:03:39,600 --> 01:03:43,040
Speaker 2: As B Newstalks EDB, thank you very much for your feedback.

1246
01:03:43,080 --> 01:03:48,280
Speaker 2: We have had plenty of texts and emails regarding tax

1247
01:03:48,360 --> 01:03:50,120
Speaker 2: and whether or not the Prime Minister should be paying

1248
01:03:50,120 --> 01:03:52,840
Speaker 2: any on the sale of his properties. Jack, I totally

1249
01:03:52,880 --> 01:03:56,520
Speaker 2: agree with you. We are when we are you absolutely correct.

1250
01:03:56,520 --> 01:04:00,000
Speaker 2: We are one hundred percent overdue for a capital gains tax. Jack,

1251
01:04:00,160 --> 01:04:02,240
Speaker 2: talk about the politics of MV. As far as I'm concerned,

1252
01:04:02,280 --> 01:04:07,000
Speaker 2: the Prime Minister's personal finance should be left out of things. Jack,

1253
01:04:07,640 --> 01:04:10,960
Speaker 2: leave Christopher Luxen alone. It's no one's business investments are

1254
01:04:11,000 --> 01:04:13,080
Speaker 2: bought and paid for by money that has been earned

1255
01:04:14,040 --> 01:04:16,960
Speaker 2: while at the same time being taxed. End of story. Yeah,

1256
01:04:17,000 --> 01:04:20,720
Speaker 2: I mean I do. Yeah, I get that point. I

1257
01:04:20,800 --> 01:04:22,360
Speaker 2: just think if you look at the New Zealand tax

1258
01:04:22,400 --> 01:04:25,160
Speaker 2: system as a whole, I'm still yet to have anyone

1259
01:04:25,200 --> 01:04:26,920
Speaker 2: explain to me why it's fair that someone on the

1260
01:04:27,000 --> 01:04:30,280
Speaker 2: median wage paying an effective tax rate of twenty percent

1261
01:04:30,600 --> 01:04:33,400
Speaker 2: on about seventy thousand dollars of income per year, why

1262
01:04:33,520 --> 01:04:36,000
Speaker 2: that person should be taxed. But someone who makes a

1263
01:04:36,040 --> 01:04:38,200
Speaker 2: profit of a few hundred grand from selling a property

1264
01:04:38,280 --> 01:04:40,320
Speaker 2: in the space for three or four years, why that

1265
01:04:40,480 --> 01:04:42,800
Speaker 2: person shouldn't have to pay a cent? Explain to me

1266
01:04:42,840 --> 01:04:45,360
Speaker 2: why that's fair. Please. Ninety two ninety two is our

1267
01:04:45,400 --> 01:04:47,200
Speaker 2: text number. I will get to more of your feedback

1268
01:04:47,720 --> 01:04:52,480
Speaker 2: on that after six o'clock plus. Crocs, Jack. I love

1269
01:04:52,560 --> 01:04:54,880
Speaker 2: to hate crocs, but honestly I also love to love

1270
01:04:54,960 --> 01:04:57,439
Speaker 2: my crocs. I wear them tramping up the mountain. They're

1271
01:04:57,480 --> 01:04:59,959
Speaker 2: perfect for crossing creeks and rivers. You get your feet,

1272
01:05:00,240 --> 01:05:02,680
Speaker 2: but then after a couple of minutes they're dry. I'm

1273
01:05:02,760 --> 01:05:05,840
Speaker 2: just I've never worn a croc, don't really aspire to

1274
01:05:05,960 --> 01:05:08,760
Speaker 2: ever wearing a croc. Although when Phil said Birkenstocks abandoned

1275
01:05:08,800 --> 01:05:11,800
Speaker 2: his office, well that meant that my post broadcasting career

1276
01:05:11,840 --> 01:05:14,760
Speaker 2: has lost another potential employer a bit of a Birkenstocks fan.

1277
01:05:15,040 --> 01:05:17,200
Speaker 2: I am a bit of a Birkenstocks fan, so apparently

1278
01:05:17,240 --> 01:05:19,760
Speaker 2: I won't be going to Phill's place anytime soon. Ninety

1279
01:05:19,800 --> 01:05:21,680
Speaker 2: two ninety two. If you want to send us a message,

1280
01:05:21,760 --> 01:05:24,720
Speaker 2: Jacket News Talks 'db dot co dot nz is the

1281
01:05:24,760 --> 01:05:27,520
Speaker 2: email address. After six o'clock this evening, we're going to

1282
01:05:27,600 --> 01:05:32,680
Speaker 2: catch up with Zedia's deputy chief executive on their latest

1283
01:05:32,760 --> 01:05:36,200
Speaker 2: quarterly survey of business opinion. It does show a massive turnaround,

1284
01:05:36,280 --> 01:05:37,880
Speaker 2: so of course in the last three months, it's the

1285
01:05:37,960 --> 01:05:40,280
Speaker 2: last time they did their survey, we've had the OCR cut.

1286
01:05:41,320 --> 01:05:44,560
Speaker 2: So now from forty percent of businesses who were feeling

1287
01:05:44,680 --> 01:05:48,040
Speaker 2: pessimistic about the economic outlook three months ago, just five

1288
01:05:48,160 --> 01:05:53,920
Speaker 2: percent of businesses are expecting economic conditions to deteriorate. However,

1289
01:05:54,080 --> 01:05:56,280
Speaker 2: there are a few fishocks in the data, so we're

1290
01:05:56,280 --> 01:05:58,080
Speaker 2: going to get to that as well. Plus, the latest

1291
01:05:58,520 --> 01:06:01,800
Speaker 2: construction conting numbers are out. They show that big twenty

1292
01:06:01,800 --> 01:06:04,320
Speaker 2: percent drop. What's it going to take to turn that

1293
01:06:04,440 --> 01:06:06,960
Speaker 2: around and just how much of a lag is there

1294
01:06:07,080 --> 01:06:11,240
Speaker 2: going to be as the OCR makes its way down

1295
01:06:11,720 --> 01:06:15,040
Speaker 2: twenty five or fifty basis points coming Wednesday of next week.

1296
01:06:15,080 --> 01:06:17,480
Speaker 2: Most economis seem to be pretty divided on what's more

1297
01:06:17,600 --> 01:06:20,400
Speaker 2: likely at this stage, but either way there is likely

1298
01:06:20,480 --> 01:06:21,880
Speaker 2: to be a bit of a delay before we see

1299
01:06:21,920 --> 01:06:24,720
Speaker 2: the full impact in the building sector. It's almost six o'clock.

1300
01:06:24,800 --> 01:06:28,120
Speaker 2: You were jactam in for Heather. This is Newstalk's eDV yem.

1301
01:06:32,320 --> 01:06:32,840
Speaker 11: What's down?

1302
01:06:33,480 --> 01:06:36,080
Speaker 1: What were the major calls and how will it affect

1303
01:06:36,120 --> 01:06:39,520
Speaker 1: the economy of the bigger business questions on the Business

1304
01:06:39,600 --> 01:06:43,920
Speaker 1: Hour with Jack tam and My Hr on Newstalk's eDV.

1305
01:06:47,040 --> 01:06:50,240
Speaker 2: Newstalk's EDB. You were jactam in for Heather. We'll catch

1306
01:06:50,320 --> 01:06:52,720
Speaker 2: up with Jamie mackay from the Country very shortly. Another

1307
01:06:52,880 --> 01:06:55,480
Speaker 2: key global dairy trade auction tonight, so we'll get his

1308
01:06:55,560 --> 01:06:58,479
Speaker 2: thoughts on that, might get some perspective on those Sinle

1309
01:06:58,640 --> 01:07:02,040
Speaker 2: results as well. We'll take a look at a construction sector.

1310
01:07:02,080 --> 01:07:03,880
Speaker 2: What's it going to turn take to turn around? The

1311
01:07:04,000 --> 01:07:07,440
Speaker 2: number of consents down twenty percent year on year compared

1312
01:07:07,480 --> 01:07:10,200
Speaker 2: to this time last year and obviously a bit of

1313
01:07:10,200 --> 01:07:12,520
Speaker 2: a lag even once that monetary policy starts to be

1314
01:07:12,600 --> 01:07:14,600
Speaker 2: eased a little bit. So we'll catch up with Brad

1315
01:07:14,600 --> 01:07:16,960
Speaker 2: Olton from informetrics on that very shortly right now though

1316
01:07:17,000 --> 01:07:19,600
Speaker 2: it is seven minutes past six and signs of optimism

1317
01:07:20,080 --> 01:07:24,200
Speaker 2: among New Zealand's retail sector. The latest ended IR quarterly

1318
01:07:24,280 --> 01:07:27,320
Speaker 2: survey of business opinion shows owners are less pessimistic about

1319
01:07:27,360 --> 01:07:29,840
Speaker 2: the economic outlook. So it now sits at just five

1320
01:07:29,920 --> 01:07:36,320
Speaker 2: percent five percent expecting deterioration in our economic conditions compared

1321
01:07:36,360 --> 01:07:39,640
Speaker 2: to forty percent three months ago. So that's a thirty

1322
01:07:39,680 --> 01:07:43,760
Speaker 2: five percentage point turnaround. Inseder says the results could make

1323
01:07:43,800 --> 01:07:46,480
Speaker 2: a case for another official cash rate cut next week.

1324
01:07:46,680 --> 01:07:50,000
Speaker 2: Christina Jung is the Ensediar Deputy Chef Executive and is

1325
01:07:50,040 --> 01:07:53,040
Speaker 2: with us this evening. Good evening, Kyoda. Hey, we'll get

1326
01:07:53,080 --> 01:07:55,720
Speaker 2: onto the sentiment data and a couple of minutes, because

1327
01:07:55,720 --> 01:07:57,720
Speaker 2: I know that'll come as good news to a lot

1328
01:07:57,720 --> 01:07:59,200
Speaker 2: of firms out there. But let's start off with the

1329
01:07:59,280 --> 01:08:03,040
Speaker 2: latest trading data. What do your numbers say about demand

1330
01:08:03,160 --> 01:08:03,959
Speaker 2: over the last quarter.

1331
01:08:04,840 --> 01:08:07,720
Speaker 26: So our latest NDA quarterly, so our business opinion does

1332
01:08:07,800 --> 01:08:10,800
Speaker 26: show that demand in the September quarter remained weak, with

1333
01:08:10,920 --> 01:08:14,520
Speaker 26: a net thirty one percent of firms reporting that they

1334
01:08:14,600 --> 01:08:16,960
Speaker 26: face reduced activity in the September quarter.

1335
01:08:17,600 --> 01:08:21,120
Speaker 2: Right, okay, And how is that likely to change over

1336
01:08:21,160 --> 01:08:21,840
Speaker 2: the next three.

1337
01:08:21,760 --> 01:08:25,760
Speaker 26: Months when we look at expectations for the next quarter. Though,

1338
01:08:26,000 --> 01:08:29,080
Speaker 26: even though right here, right now, across a wide range

1339
01:08:29,080 --> 01:08:32,519
Speaker 26: of measures, firms are reporting quite weak demand in the

1340
01:08:32,560 --> 01:08:37,639
Speaker 26: September quarter, expectations for the next quarter are looking more positive.

1341
01:08:37,720 --> 01:08:40,920
Speaker 26: And that's particularly for the case for sectors such as

1342
01:08:41,000 --> 01:08:44,080
Speaker 26: retail and services, to the extent that these are the

1343
01:08:44,160 --> 01:08:47,080
Speaker 26: sectors that are more exposed to the household sector, we

1344
01:08:47,200 --> 01:08:50,519
Speaker 26: see the impact of law interest rates as having more

1345
01:08:50,600 --> 01:08:53,360
Speaker 26: of a positive impact on these areas.

1346
01:08:53,560 --> 01:08:56,080
Speaker 2: Yeah, I mean, that's that is a remarkable shift. So

1347
01:08:56,120 --> 01:08:58,479
Speaker 2: you've gone from well a net thirty one percent of

1348
01:08:58,560 --> 01:09:01,920
Speaker 2: firms reporting a decline in activity in the in the

1349
01:09:02,040 --> 01:09:05,960
Speaker 2: quarter to September, but two percent of firms are expecting

1350
01:09:06,000 --> 01:09:08,040
Speaker 2: weaker activity in the next quarter. So you know that

1351
01:09:08,200 --> 01:09:10,800
Speaker 2: that is a massive shift. And what about ninety five

1352
01:09:10,840 --> 01:09:12,640
Speaker 2: percent of that is down to the ocr.

1353
01:09:13,920 --> 01:09:18,920
Speaker 26: While we don't dwelve into US firms the reasons for

1354
01:09:19,680 --> 01:09:22,560
Speaker 26: how they're expecting or feeling the way they do, what

1355
01:09:22,720 --> 01:09:26,360
Speaker 26: we have seen also over the quarter is that when

1356
01:09:26,400 --> 01:09:30,840
Speaker 26: we ask firms, particularly when financial services firms, their expectations

1357
01:09:30,920 --> 01:09:34,719
Speaker 26: for interest rates, an overwhelming majority of firms are expecting

1358
01:09:34,840 --> 01:09:37,360
Speaker 26: low interest rates for the coming year, and the fact

1359
01:09:37,400 --> 01:09:41,920
Speaker 26: that we're seeing this recovery in sentiment most apparent in

1360
01:09:42,000 --> 01:09:44,880
Speaker 26: the retail and services sector, it does suggest that the

1361
01:09:45,000 --> 01:09:48,240
Speaker 26: impact of interest rates are having more of an immediate

1362
01:09:48,280 --> 01:09:51,559
Speaker 26: impact on these the house sector, for which these sectors

1363
01:09:51,760 --> 01:09:53,160
Speaker 26: tend to be more exposed.

1364
01:09:53,000 --> 01:09:56,519
Speaker 2: Right, So what sectors are less exposed to the household

1365
01:09:56,560 --> 01:09:59,240
Speaker 2: sector than it and perhaps feeling a bit more downbeat

1366
01:09:59,320 --> 01:09:59,920
Speaker 2: or pessimistic.

1367
01:10:00,920 --> 01:10:03,880
Speaker 26: So we do see the building sector and also the

1368
01:10:03,960 --> 01:10:07,439
Speaker 26: manufacturing sector remains fairly down beat. For the building sector,

1369
01:10:07,560 --> 01:10:11,719
Speaker 26: that reflects the fact that construction demand is still pretty weak.

1370
01:10:11,880 --> 01:10:15,519
Speaker 26: And also where we ask architects what their expectations are

1371
01:10:15,640 --> 01:10:18,960
Speaker 26: for construction work based on work in their own office,

1372
01:10:19,000 --> 01:10:22,280
Speaker 26: we can see that the pipeline across our housing, commercial

1373
01:10:22,520 --> 01:10:26,920
Speaker 26: and government construction work our week for the coming year,

1374
01:10:27,240 --> 01:10:30,639
Speaker 26: there are signs of an improvement beyond the coming twelve months. Though,

1375
01:10:31,040 --> 01:10:34,040
Speaker 26: when we ask architects in two years time what they're

1376
01:10:34,439 --> 01:10:37,000
Speaker 26: expecting in terms of that pipeline of construction work, there's

1377
01:10:37,000 --> 01:10:41,160
Speaker 26: actually an improvement. Expectations of improvement for housing and commercial construction.

1378
01:10:41,560 --> 01:10:44,840
Speaker 2: Okay, is that just down to the lag in the

1379
01:10:45,800 --> 01:10:48,760
Speaker 2: monetary policy cycle. You know, basically it takes the time

1380
01:10:48,800 --> 01:10:51,040
Speaker 2: for the full weight of those interstrate cuts to be

1381
01:10:51,080 --> 01:10:52,160
Speaker 2: felt across the economy.

1382
01:10:52,960 --> 01:10:55,080
Speaker 26: We would say part of that is the reason. Also,

1383
01:10:55,960 --> 01:10:57,680
Speaker 26: for example, if we look at the fact that we're

1384
01:10:57,760 --> 01:11:01,439
Speaker 26: firms asking them about hiring and investment intentions, despite the

1385
01:11:01,520 --> 01:11:04,840
Speaker 26: fact that their firms are expecting demand to pick up

1386
01:11:04,920 --> 01:11:07,800
Speaker 26: in the next quarter. When we ask them about their

1387
01:11:07,880 --> 01:11:12,720
Speaker 26: intentions expansion plans, for example, in investment, they we can

1388
01:11:12,760 --> 01:11:15,519
Speaker 26: see that firms remain quite cautious. For example, a quarter

1389
01:11:15,560 --> 01:11:18,960
Speaker 26: of firms are expecting to reduce investment in buildings over

1390
01:11:18,960 --> 01:11:23,519
Speaker 26: the coming year. So that does suggest that while there

1391
01:11:23,640 --> 01:11:27,799
Speaker 26: is that expectations or hope optimism that things will improve

1392
01:11:27,840 --> 01:11:31,400
Speaker 26: in the next quarter when it comes to actually putting

1393
01:11:31,439 --> 01:11:36,960
Speaker 26: in place expansion plans. Until that our firms are feeling

1394
01:11:37,000 --> 01:11:40,720
Speaker 26: more conviction of a sustained improvement in demand, we do

1395
01:11:40,880 --> 01:11:44,200
Speaker 26: expect that that caution towards hiring an investment will remain.

1396
01:11:44,439 --> 01:11:46,880
Speaker 2: So go back to that headline figure, net five percent

1397
01:11:46,920 --> 01:11:50,439
Speaker 2: of firms expected deterioration in general economic conditions over the

1398
01:11:50,479 --> 01:11:54,040
Speaker 2: coming months. Compare that though the net forty percent from

1399
01:11:54,080 --> 01:11:56,360
Speaker 2: the dune quarter, what does this mean for the OCE

1400
01:11:56,479 --> 01:11:57,599
Speaker 2: artists next week.

1401
01:11:59,800 --> 01:12:04,360
Speaker 26: In terms of the rebound we can in terms of

1402
01:12:04,439 --> 01:12:07,439
Speaker 26: that recovery and business confidence, it is looking quite a

1403
01:12:07,600 --> 01:12:10,600
Speaker 26: more positive picture for the news and economy. Also the

1404
01:12:10,680 --> 01:12:14,040
Speaker 26: fact that in this latest end I are call less

1405
01:12:14,040 --> 01:12:16,960
Speaker 26: you've got business opinion, we're seeing a continue easing and

1406
01:12:17,080 --> 01:12:20,840
Speaker 26: inflation indicators, and that's particularly the case when it comes

1407
01:12:20,880 --> 01:12:23,680
Speaker 26: to pricing pressures. That's driven by the fact that in

1408
01:12:23,800 --> 01:12:28,200
Speaker 26: this weak demand environment, booms in the manufacturing, building and

1409
01:12:28,320 --> 01:12:33,040
Speaker 26: retail sectors report that they cut prices in the September quarter,

1410
01:12:33,880 --> 01:12:36,760
Speaker 26: with the Reserve Bank highlighting that the change in price

1411
01:12:36,800 --> 01:12:39,720
Speaker 26: setting behavior was one of the factors that provided them

1412
01:12:39,800 --> 01:12:43,160
Speaker 26: with the comfort to start the easing cycle. We do

1413
01:12:43,520 --> 01:12:49,160
Speaker 26: see this overall picture cautious optimism, but in an easing

1414
01:12:49,280 --> 01:12:52,599
Speaker 26: inflation environment, as supporting the case for further OCO cuts.

1415
01:12:52,720 --> 01:12:54,840
Speaker 2: Yeah, twenty five or thirty, What do you reckon, Christina?

1416
01:12:55,840 --> 01:12:59,040
Speaker 26: I've been asked that a lot, and I would say,

1417
01:13:00,040 --> 01:13:03,080
Speaker 26: based on today's results, you could argue the case for

1418
01:13:03,280 --> 01:13:08,320
Speaker 26: either move. Really, certainly it's encouraging to see that continue

1419
01:13:08,720 --> 01:13:12,599
Speaker 26: decline in the inflation indicated. We are expecting a twenty

1420
01:13:12,680 --> 01:13:15,479
Speaker 26: five basis point the client at the upcoming meeting, and

1421
01:13:15,600 --> 01:13:19,440
Speaker 26: that more reflects the fact that just with the commencement

1422
01:13:20,479 --> 01:13:22,920
Speaker 26: of the easing cycle that we've just seen in August,

1423
01:13:22,920 --> 01:13:27,320
Speaker 26: we're already seeing such a rebound in expectations. We feel

1424
01:13:27,320 --> 01:13:30,280
Speaker 26: it's proven to be a more measured in the easing

1425
01:13:30,360 --> 01:13:33,120
Speaker 26: cycle in order to be able to assess the impact

1426
01:13:33,200 --> 01:13:34,719
Speaker 26: of the moves that it's done today.

1427
01:13:35,040 --> 01:13:37,160
Speaker 2: Yeah right, that makes sense. Hey, thank you so much.

1428
01:13:37,439 --> 01:13:40,200
Speaker 2: Christina really appreciated that. Is Christina Lung, who is the

1429
01:13:40,320 --> 01:13:45,360
Speaker 2: Deputy Chief Executive of the nzed IEA speaking of optimism

1430
01:13:45,439 --> 01:13:47,960
Speaker 2: in the retail sector in Australia that there's real reason

1431
01:13:48,000 --> 01:13:52,160
Speaker 2: for optimism. So retail sales have actually rebounded are almost

1432
01:13:52,240 --> 01:13:56,759
Speaker 2: a percent compared to expectations, almost double expectations, which analysts

1433
01:13:56,760 --> 01:13:58,519
Speaker 2: over there actually just putting down to the weather they

1434
01:13:58,560 --> 01:14:01,639
Speaker 2: reckon it's been so warm August and Australia that actually

1435
01:14:01,720 --> 01:14:04,160
Speaker 2: retail sales have been almost twice as good, or the

1436
01:14:04,200 --> 01:14:07,320
Speaker 2: growth in retail sales has been almost twice as good

1437
01:14:07,320 --> 01:14:09,439
Speaker 2: as they had been anticipating. So we're going to catch

1438
01:14:09,520 --> 01:14:12,400
Speaker 2: up with Paul Bloxin from HSBC before seven o'clock get

1439
01:14:12,439 --> 01:14:15,200
Speaker 2: his thoughts on that one, says Jack, the final quarter

1440
01:14:15,360 --> 01:14:18,519
Speaker 2: of the year for US retailers is historically cyclically high.

1441
01:14:18,720 --> 01:14:20,600
Speaker 2: That makes a lot of sense heading into Christmas and

1442
01:14:20,600 --> 01:14:24,160
Speaker 2: the holidays. What we're after is the standard annual cycle

1443
01:14:24,560 --> 01:14:27,519
Speaker 2: to be a positive boost augmented by interest rate cuts

1444
01:14:27,840 --> 01:14:30,479
Speaker 2: to give us a macroeconomic acceleration and get us rolling

1445
01:14:30,520 --> 01:14:33,840
Speaker 2: into twenty twenty five. Yeah, obviously a lot riding on

1446
01:14:33,960 --> 01:14:36,080
Speaker 2: that call next week. Well, I think it's the second

1447
01:14:36,120 --> 01:14:39,519
Speaker 2: to last call for the Reserve Bank for this year.

1448
01:14:40,360 --> 01:14:42,519
Speaker 2: Twenty five or fifty basis points seem to be the

1449
01:14:42,600 --> 01:14:44,880
Speaker 2: pick between most economists. I think the majority at the

1450
01:14:44,920 --> 01:14:46,800
Speaker 2: moment probably picking twenty five, but still a bit of

1451
01:14:46,880 --> 01:14:49,200
Speaker 2: data to come out before that decision is final. Right now,

1452
01:14:49,240 --> 01:14:52,200
Speaker 2: it's quarter past sixty with Jack Tame. This is News TALKSZ'DB.

1453
01:14:52,880 --> 01:14:56,160
Speaker 1: Crunching the numbers and getting the results. It's Heather due

1454
01:14:56,160 --> 01:14:59,519
Speaker 1: for ce Ellen with the Business Hours. Thanks to my HR,

1455
01:14:59,800 --> 01:15:01,760
Speaker 1: the HR platform for SME on.

1456
01:15:01,920 --> 01:15:03,240
Speaker 11: News TALKSB.

1457
01:15:05,120 --> 01:15:10,040
Speaker 1: The Rural Report on hither do for see Allen drives.

1458
01:15:09,120 --> 01:15:12,400
Speaker 2: To the country. Jamie McKay is Weather's this evening, Good evening, sir,

1459
01:15:13,240 --> 01:15:15,960
Speaker 2: Good day Jack such Yeah, nice to chant another key

1460
01:15:16,479 --> 01:15:19,760
Speaker 2: global global dairy trade auction coming up tonight.

1461
01:15:20,560 --> 01:15:20,720
Speaker 13: Yeah.

1462
01:15:20,800 --> 01:15:23,960
Speaker 23: Well, of course, last week Froontarrah Jack came out with

1463
01:15:24,080 --> 01:15:27,320
Speaker 23: that really good news headlined I guess by the nine

1464
01:15:27,400 --> 01:15:30,880
Speaker 23: dollars forecast milk price for the season we're in at

1465
01:15:30,880 --> 01:15:35,120
Speaker 23: the moment twenty four to five. We're expecting another positive

1466
01:15:35,640 --> 01:15:38,479
Speaker 23: GDT auction tonight because the volumes are starting to fall

1467
01:15:38,520 --> 01:15:41,839
Speaker 23: away seasonally from now on, and incidentally, the milk futures

1468
01:15:42,280 --> 01:15:44,759
Speaker 23: for the current season are sitting at nine dollars twenty.

1469
01:15:44,840 --> 01:15:47,320
Speaker 23: That's all good news. But even better news Jack, if

1470
01:15:47,360 --> 01:15:51,280
Speaker 23: you're an organic dairy farmer, you got paid ten dollars

1471
01:15:51,400 --> 01:15:54,040
Speaker 23: ninety two for kilogram of milk solids for your organic

1472
01:15:54,640 --> 01:16:00,560
Speaker 23: milk this year, which is a record price, passing the

1473
01:16:00,680 --> 01:16:03,720
Speaker 23: ten dollars eighty and the twenty two to twenty three

1474
01:16:03,800 --> 01:16:06,880
Speaker 23: season the tenth or the fourth time organic milk has

1475
01:16:06,960 --> 01:16:11,080
Speaker 23: exceeded ten dollars, and the margin between organic and normal milk,

1476
01:16:11,360 --> 01:16:14,280
Speaker 23: it's just the stuff that comes off the average farmers

1477
01:16:14,479 --> 01:16:17,840
Speaker 23: over three dollars. Remembering that the payout to the season

1478
01:16:17,880 --> 01:16:20,519
Speaker 23: we've just finished with seven eighty three. So look all

1479
01:16:20,600 --> 01:16:23,200
Speaker 23: and all, look, I know some farmers who are organic

1480
01:16:23,560 --> 01:16:26,320
Speaker 23: and who are a two and they will were not

1481
01:16:26,479 --> 01:16:28,760
Speaker 23: laughing all the way to the bank. It's expensive to make,

1482
01:16:28,840 --> 01:16:30,360
Speaker 23: but they'll be you know, good times.

1483
01:16:30,680 --> 01:16:33,759
Speaker 2: Yeah, yeah, that's good to hear. Hey, the proposed closure

1484
01:16:34,000 --> 01:16:38,920
Speaker 2: of the meat works in Timado is exacerbating the risk

1485
01:16:39,000 --> 01:16:41,280
Speaker 2: that more of these announcements could be made around the country.

1486
01:16:41,280 --> 01:16:42,960
Speaker 2: It feels like a bit of a theme at the moment.

1487
01:16:43,040 --> 01:16:46,080
Speaker 23: Ay, Well, yeah, the problem is, and you know, is

1488
01:16:46,160 --> 01:16:48,360
Speaker 23: this going to be the first Is this going to

1489
01:16:48,400 --> 01:16:51,679
Speaker 23: be the first domino to fall? How many other plants

1490
01:16:51,880 --> 01:16:55,680
Speaker 23: might have to close due to excess capacity? And if

1491
01:16:55,760 --> 01:16:58,439
Speaker 23: too many of them closed suddenly, then does the sheep

1492
01:16:58,520 --> 01:17:02,080
Speaker 23: met industry or the red meatustry have enough critical mass

1493
01:17:02,600 --> 01:17:05,439
Speaker 23: to run these plants? Look at it's tough. Kate Ackland,

1494
01:17:05,760 --> 01:17:07,519
Speaker 23: the chair of Beef and Land New Zealand, was on

1495
01:17:07,680 --> 01:17:11,040
Speaker 23: my show today, Jack and she's saying this is due

1496
01:17:11,080 --> 01:17:13,960
Speaker 23: to a significant decrease in sheep meat prices over the

1497
01:17:14,040 --> 01:17:19,599
Speaker 23: last few years, coupled with spiraling costs on the farm

1498
01:17:19,680 --> 01:17:23,960
Speaker 23: and in the supply chain. Also, this the forestry argument,

1499
01:17:24,120 --> 01:17:26,040
Speaker 23: and you've got to be careful where you tread on

1500
01:17:26,080 --> 01:17:28,640
Speaker 23: this one. At the moment because the forestry industry in

1501
01:17:28,720 --> 01:17:32,320
Speaker 23: itself having a really tough time at the moment. Businesses

1502
01:17:32,320 --> 01:17:37,760
Speaker 23: are closing down and Gisbin it's the forestry industries are

1503
01:17:37,840 --> 01:17:40,479
Speaker 23: responsible for about a third of the economic activity in

1504
01:17:40,520 --> 01:17:45,599
Speaker 23: the Gisbon Tirafity Poverty Bay region. So tough times indeed.

1505
01:17:45,680 --> 01:17:48,400
Speaker 23: And you know the sheep farmers are saying that the

1506
01:17:48,520 --> 01:17:52,840
Speaker 23: forestry is responsible for land use change. I think that

1507
01:17:53,000 --> 01:17:56,240
Speaker 23: slowed down to be fair to a fair degree. The forestry,

1508
01:17:56,280 --> 01:17:58,320
Speaker 23: I guess, does have two bites at the cherry jack.

1509
01:17:58,400 --> 01:18:00,680
Speaker 23: There is the log prices all there, very low at

1510
01:18:00,720 --> 01:18:03,800
Speaker 23: the moment, plus the carbon credits you can collect along

1511
01:18:03,840 --> 01:18:04,120
Speaker 23: the way.

1512
01:18:04,800 --> 01:18:06,839
Speaker 2: I know that at the moment it's just a proposal,

1513
01:18:06,880 --> 01:18:11,080
Speaker 2: but what is your sense for if the plans go

1514
01:18:11,160 --> 01:18:15,160
Speaker 2: ahead and about six hundred workers Alliance Group Smithfield Works

1515
01:18:15,200 --> 01:18:17,080
Speaker 2: lose their job, what is going to be the impact

1516
01:18:17,120 --> 01:18:17,879
Speaker 2: on that community?

1517
01:18:17,920 --> 01:18:19,599
Speaker 3: Intimado huge?

1518
01:18:19,800 --> 01:18:23,160
Speaker 23: I think it's the biggest employer huge And you know,

1519
01:18:23,360 --> 01:18:26,040
Speaker 23: like I know, they've got to go through the consultation process,

1520
01:18:26,320 --> 01:18:28,479
Speaker 23: check and I don't want to sound hard hearted about this,

1521
01:18:28,920 --> 01:18:32,080
Speaker 23: but this deal is done. I think from the Alliance

1522
01:18:32,160 --> 01:18:34,840
Speaker 23: Group's point of view, there is a silver lining, believe

1523
01:18:34,840 --> 01:18:38,000
Speaker 23: it or not, in mothballing this plant and that Smithfield

1524
01:18:38,080 --> 01:18:41,559
Speaker 23: basically sits in a quite a desirable part of Timaru.

1525
01:18:41,680 --> 01:18:46,160
Speaker 23: The city has come out to meet the meat works,

1526
01:18:46,800 --> 01:18:50,639
Speaker 23: no pun intended, and my understanding is a local developer

1527
01:18:50,680 --> 01:18:53,400
Speaker 23: is going to bowl it all over and build houses there,

1528
01:18:53,520 --> 01:18:56,559
Speaker 23: so instead of having a real cost or an impost,

1529
01:18:56,720 --> 01:18:58,800
Speaker 23: the Alliance group will possibly come out of this on

1530
01:18:58,920 --> 01:19:02,160
Speaker 23: the rights of the ledger. I think as bad as

1531
01:19:02,720 --> 01:19:05,720
Speaker 23: for the meat workers of South Canterbury, that there's enough

1532
01:19:05,840 --> 01:19:10,320
Speaker 23: capacity in the rest of their processing plants to handle

1533
01:19:11,120 --> 01:19:13,719
Speaker 23: the lambs especially that are going to come forward this season.

1534
01:19:13,800 --> 01:19:17,120
Speaker 23: Remembering Jack that Southland's been hammered by the wettest September

1535
01:19:17,439 --> 01:19:19,479
Speaker 23: on record, there's going to be quite a few less

1536
01:19:19,680 --> 01:19:22,280
Speaker 23: lambs coming to the market this year. Beef and Lamb

1537
01:19:22,360 --> 01:19:25,880
Speaker 23: set a million less for prom for slaughter available this year,

1538
01:19:26,000 --> 01:19:28,000
Speaker 23: or that number you can add to that, because mother

1539
01:19:28,160 --> 01:19:30,320
Speaker 23: nature has played a bit of a cruel hand down south.

1540
01:19:30,240 --> 01:19:31,040
Speaker 11: A million less.

1541
01:19:31,840 --> 01:19:34,920
Speaker 2: That's that's that's extraordinary. I for one hadn't appreciated that

1542
01:19:35,320 --> 01:19:39,360
Speaker 2: it was that significant. There's there's really something ain't Oh.

1543
01:19:39,360 --> 01:19:42,080
Speaker 23: Well, you look at the sheep numbers that are significant.

1544
01:19:42,080 --> 01:19:43,840
Speaker 23: We've got twenty three million sheep.

1545
01:19:43,920 --> 01:19:46,920
Speaker 2: Oh yeah, yeah, the ninth yeah is just huge.

1546
01:19:47,000 --> 01:19:50,320
Speaker 23: Yeah, yeah, yeah it is. And you know, and that's

1547
01:19:50,400 --> 01:19:53,919
Speaker 23: a million less lambs out of something like about fourteen

1548
01:19:54,000 --> 01:19:57,679
Speaker 23: million available that that were born, So it's it's quite

1549
01:19:57,720 --> 01:20:01,360
Speaker 23: a big percentage. But yeah, look, the sheep numbers are

1550
01:20:01,400 --> 01:20:05,120
Speaker 23: in decline. Unless the price has improved, especially for lamb

1551
01:20:05,160 --> 01:20:07,360
Speaker 23: remembering walls a bit of a dog at the moment,

1552
01:20:07,600 --> 01:20:11,080
Speaker 23: those numbers will continue to decline. And it's sad that

1553
01:20:11,200 --> 01:20:14,720
Speaker 23: an industry on which this country was founded, wool and

1554
01:20:14,920 --> 01:20:17,519
Speaker 23: meat and sheep meat, is really struggling at the moment.

1555
01:20:17,720 --> 01:20:19,639
Speaker 2: Yeah, no, it really is. Hey, thank you so much,

1556
01:20:19,720 --> 01:20:23,160
Speaker 2: Jamie appreciated as it always Jamie McKay, Host of the Country,

1557
01:20:23,200 --> 01:20:25,360
Speaker 2: there with us this evening. Just so you know, there

1558
01:20:25,400 --> 01:20:28,360
Speaker 2: has been a four point nine magnitude earthquake at the

1559
01:20:28,360 --> 01:20:31,000
Speaker 2: top of the South Island this evening. It struck about

1560
01:20:31,000 --> 01:20:34,559
Speaker 2: twenty five k's northeast of seven, so that's in Marlboro. Obviously,

1561
01:20:35,240 --> 01:20:39,120
Speaker 2: the depth was about nine k's which is relatively shallow,

1562
01:20:39,360 --> 01:20:40,920
Speaker 2: means a lot of people would have felt it. In fact,

1563
01:20:40,960 --> 01:20:44,160
Speaker 2: I think Gette recorded more than ten thousand people saying

1564
01:20:44,200 --> 01:20:48,720
Speaker 2: they had felt the shake around the Marlborough, Nelson Wellington

1565
01:20:48,760 --> 01:20:52,479
Speaker 2: regions shortly before six o'clock this evening. So anyway, we've

1566
01:20:52,760 --> 01:20:54,519
Speaker 2: got the news team on that they're checking for any

1567
01:20:54,560 --> 01:20:57,200
Speaker 2: reports to damage or anything. At the moment, doesn't sound

1568
01:20:57,240 --> 01:20:58,920
Speaker 2: like there are major reports, but will make sure we

1569
01:20:59,000 --> 01:21:01,679
Speaker 2: update you in the news right now. Twenty four minutes

1570
01:21:01,720 --> 01:21:03,599
Speaker 2: past six year with Jacktame on Newstalks, EDB.

1571
01:21:05,040 --> 01:21:07,840
Speaker 1: If it's to do with money, it matters to you.

1572
01:21:08,439 --> 01:21:12,160
Speaker 1: The Business Hour with Jack tam and my HR the

1573
01:21:12,439 --> 01:21:15,840
Speaker 1: HR solution for Fizzy smy son used talks EDB.

1574
01:21:16,040 --> 01:21:17,439
Speaker 2: I've just got your a little bit more info on

1575
01:21:17,560 --> 01:21:20,439
Speaker 2: that earthquake. So there were some hero staff in Parliament

1576
01:21:21,320 --> 01:21:23,599
Speaker 2: when the earthquake was felt. They said it was kind

1577
01:21:23,640 --> 01:21:25,840
Speaker 2: of moderate shaking went for about six or seven seconds.

1578
01:21:25,840 --> 01:21:28,200
Speaker 2: Although my experience of earthquakes as it's always very difficult

1579
01:21:28,200 --> 01:21:30,519
Speaker 2: to judge when you're in the moment, the quake felt

1580
01:21:30,560 --> 01:21:32,160
Speaker 2: like it went on for some time, although that could

1581
01:21:32,200 --> 01:21:34,439
Speaker 2: have just been anxiety. After the shaking. It wasn't severe,

1582
01:21:34,520 --> 01:21:37,240
Speaker 2: but definitely noticeable, felt like rolling. More than ten thousand

1583
01:21:37,280 --> 01:21:39,800
Speaker 2: people have recorded it to g Onnette four point nine

1584
01:21:39,920 --> 01:21:43,000
Speaker 2: just before six o'clock this evening. After six thirty, Brad

1585
01:21:43,040 --> 01:21:46,840
Speaker 2: Olsen from Informetrics on the latest data for construction consents

1586
01:21:47,000 --> 01:21:49,479
Speaker 2: a big drop twenty percent year on year plus will

1587
01:21:49,479 --> 01:21:51,439
Speaker 2: take you to the UK before seven as well. Use

1588
01:21:51,479 --> 01:21:54,479
Speaker 2: this next. You're Jacktame. It's almost six thirty and this

1589
01:21:54,720 --> 01:21:55,600
Speaker 2: is News Talks b.

1590
01:22:01,160 --> 01:22:05,120
Speaker 1: Cunching the numbers and getting the results. Is Jacktam with

1591
01:22:05,400 --> 01:22:09,120
Speaker 1: the Business Hour thanks to my HR the HR solution

1592
01:22:09,280 --> 01:22:12,519
Speaker 1: for busy SMS on News TALKSBI.

1593
01:22:12,200 --> 01:22:32,760
Speaker 2: Well, New Stork said, be you with Jack Tame. Twenty

1594
01:22:32,800 --> 01:22:36,040
Speaker 2: five to seven. Australian retail sales have rebounded, so there

1595
01:22:36,080 --> 01:22:39,640
Speaker 2: are zero point seven percent, but expectations heading into the

1596
01:22:39,760 --> 01:22:42,120
Speaker 2: data release we're looking at about zero point four so

1597
01:22:42,240 --> 01:22:44,519
Speaker 2: twice as good as expectations. It's all being put down

1598
01:22:44,560 --> 01:22:47,840
Speaker 2: to a warm August. It follows growth of just zero

1599
01:22:48,000 --> 01:22:52,240
Speaker 2: point one percent in July. Paul Bloxham is HSBC's chief

1600
01:22:52,280 --> 01:22:55,760
Speaker 2: economist and his weatherus this evening. Hi, Paul, So how

1601
01:22:55,880 --> 01:22:58,240
Speaker 2: has a warm August encouraged spending?

1602
01:22:59,479 --> 01:22:59,679
Speaker 17: Well?

1603
01:23:00,080 --> 01:23:03,000
Speaker 10: These numbers are seasonally adjusted, so strictly speaking, they should

1604
01:23:03,000 --> 01:23:05,559
Speaker 10: adjust for the fact that there are weather patterns of course,

1605
01:23:05,640 --> 01:23:08,920
Speaker 10: but if you get an unusually unusual weather pattern and

1606
01:23:09,080 --> 01:23:11,880
Speaker 10: unusually warm months, for example, people might spend a bit

1607
01:23:12,080 --> 01:23:14,040
Speaker 10: on outdoor activity and so on, and that's what the

1608
01:23:14,120 --> 01:23:17,160
Speaker 10: ABS has really been pointing out in those numbers. But

1609
01:23:17,280 --> 01:23:19,000
Speaker 10: I don't think that's the key story. I think the

1610
01:23:19,120 --> 01:23:21,719
Speaker 10: key story here is that there has been tax relief.

1611
01:23:21,920 --> 01:23:24,519
Speaker 10: Tax cuts have come through, there's been cost of living

1612
01:23:24,840 --> 01:23:27,519
Speaker 10: relief as well, and household incomes in Australia have gotten

1613
01:23:27,560 --> 01:23:30,160
Speaker 10: a bit of a boost in July and into August,

1614
01:23:30,240 --> 01:23:32,080
Speaker 10: and people are starting to spend just a little bit

1615
01:23:32,120 --> 01:23:33,920
Speaker 10: of that. They're saving some of it, but they're spending

1616
01:23:34,000 --> 01:23:36,160
Speaker 10: some of it. So I think part of the lift

1617
01:23:36,240 --> 01:23:38,799
Speaker 10: in the consumer spend, which we're expecting actually will continue

1618
01:23:39,240 --> 01:23:41,080
Speaker 10: in the coming months and is going to be a

1619
01:23:41,120 --> 01:23:44,160
Speaker 10: feature of this second half of this year for Australia

1620
01:23:44,479 --> 01:23:46,960
Speaker 10: is about that relief, is about more income coming their way.

1621
01:23:47,000 --> 01:23:49,920
Speaker 10: The challenge there, of course, is if demand picks up

1622
01:23:49,960 --> 01:23:52,120
Speaker 10: in the economy, you get a bit more consumer demand

1623
01:23:52,479 --> 01:23:55,000
Speaker 10: at a time when inflation is still not as low

1624
01:23:55,000 --> 01:23:56,840
Speaker 10: as it needs to be, then it means the RBA

1625
01:23:56,960 --> 01:23:59,920
Speaker 10: isn't able to cut interest rates. So while it's a

1626
01:24:00,000 --> 01:24:02,880
Speaker 10: positive story, because the consumer spending a bit more, it

1627
01:24:03,000 --> 01:24:05,880
Speaker 10: means that rate relief is still quite a distance away.

1628
01:24:05,960 --> 01:24:07,240
Speaker 2: Yeah, it talk to us a bit more about that.

1629
01:24:07,439 --> 01:24:09,280
Speaker 2: What do you think it means for the inflationary outload.

1630
01:24:10,120 --> 01:24:11,920
Speaker 10: Well, we think inflation is going to prove to be

1631
01:24:12,120 --> 01:24:14,439
Speaker 10: sticky in Australia. We've been saying this all year long. Actually,

1632
01:24:14,520 --> 01:24:16,479
Speaker 10: we don't think the RBA is going to be cutting

1633
01:24:16,479 --> 01:24:19,040
Speaker 10: interest rates this year, and we've thought that the rate

1634
01:24:19,120 --> 01:24:21,280
Speaker 10: cuts are probably not coming through till twenty twenty five,

1635
01:24:21,320 --> 01:24:24,439
Speaker 10: and that's been out of view consistently and the numbers

1636
01:24:24,439 --> 01:24:26,400
Speaker 10: are playing out that way. So it's a combination of

1637
01:24:26,479 --> 01:24:29,280
Speaker 10: two things. It's both the demand is still holding up,

1638
01:24:29,320 --> 01:24:31,400
Speaker 10: as we talked about consumers starting to spend a little

1639
01:24:31,439 --> 01:24:33,760
Speaker 10: bit more because there's a bit more physical stimulus coming through.

1640
01:24:34,160 --> 01:24:36,320
Speaker 10: But the primary thing is that the supply side of

1641
01:24:36,360 --> 01:24:39,519
Speaker 10: Australia's economy is really quite poor. It's really quite weak.

1642
01:24:39,840 --> 01:24:42,160
Speaker 10: We've seen productivity that's been quite weak as well. So

1643
01:24:42,680 --> 01:24:45,720
Speaker 10: that combination is leaving us with a cost space that's

1644
01:24:45,760 --> 01:24:48,800
Speaker 10: running a bit too quickly and sticky inflation. The RBA

1645
01:24:49,400 --> 01:24:51,439
Speaker 10: isn't I don't think then, I don't think they're going

1646
01:24:51,479 --> 01:24:53,040
Speaker 10: to be able to cut interest rates until well into

1647
01:24:53,080 --> 01:24:53,840
Speaker 10: twenty twenty five.

1648
01:24:54,400 --> 01:24:56,200
Speaker 2: That's interesting. So what are you making of the chances

1649
01:24:56,240 --> 01:24:58,800
Speaker 2: of a big cut to the cash rate here next week?

1650
01:24:59,680 --> 01:25:01,880
Speaker 10: Well, I think there are options here. I think the

1651
01:25:02,040 --> 01:25:03,960
Speaker 10: RBNZ is going to cut, and I guess there are

1652
01:25:04,000 --> 01:25:07,680
Speaker 10: options to cut twenty five or cut fifty, and we'll

1653
01:25:07,720 --> 01:25:09,280
Speaker 10: have to see what they decide to do. I mean,

1654
01:25:09,400 --> 01:25:11,880
Speaker 10: keep in mind, it was, you know, back in August

1655
01:25:12,479 --> 01:25:15,360
Speaker 10: when they cut, they'd told us in May, just in

1656
01:25:15,479 --> 01:25:17,280
Speaker 10: May prior to that, that they didn't think they were

1657
01:25:17,280 --> 01:25:19,479
Speaker 10: cutting into a well into next year, and they thought

1658
01:25:19,479 --> 01:25:21,360
Speaker 10: there was a possibility might list break from some one.

1659
01:25:21,400 --> 01:25:24,400
Speaker 10: It's actually really quite difficult to read the RBNZ at

1660
01:25:24,400 --> 01:25:26,240
Speaker 10: the moment in terms of the way they are likely

1661
01:25:26,320 --> 01:25:28,600
Speaker 10: to respond to the data. But what we know is

1662
01:25:28,680 --> 01:25:31,559
Speaker 10: the economy is week, GDP is week, growth is week,

1663
01:25:31,880 --> 01:25:34,200
Speaker 10: and we know there are science and inflation's coming down too.

1664
01:25:34,320 --> 01:25:37,360
Speaker 10: So I think we can fairly confidently say the rbnz's

1665
01:25:37,360 --> 01:25:38,920
Speaker 10: going to deliver another cut next week.

1666
01:25:39,280 --> 01:25:42,320
Speaker 2: Yeah right, I can't. But twenty five fifty basis points

1667
01:25:42,320 --> 01:25:43,439
Speaker 2: anyone's guess at the stage.

1668
01:25:44,240 --> 01:25:46,679
Speaker 10: It's tricky, it's difficult to know, because, as I say,

1669
01:25:47,360 --> 01:25:50,599
Speaker 10: it hasn't been that clear exactly what data they're following

1670
01:25:50,640 --> 01:25:51,839
Speaker 10: in terms of how they're reacting.

1671
01:25:52,400 --> 01:25:55,200
Speaker 2: Okay, hey, thanks for time, Paul appreciated as always. HSBC

1672
01:25:55,400 --> 01:25:58,719
Speaker 2: Chief Economist Paul Bloxham that it is twenty two minutes

1673
01:25:58,800 --> 01:26:03,960
Speaker 2: to seven. Team in construction continues to slow. STATCENZ saying

1674
01:26:04,000 --> 01:26:06,559
Speaker 2: new home consents drop twenty percent in the year to August,

1675
01:26:06,600 --> 01:26:09,439
Speaker 2: with the number of multi unit homes consented the lowest

1676
01:26:09,560 --> 01:26:14,200
Speaker 2: in the last three years. Brad Olson is Infometrics Principal Economists,

1677
01:26:14,240 --> 01:26:17,040
Speaker 2: Good evening Kelder, So what do you make of these numbers?

1678
01:26:18,120 --> 01:26:20,960
Speaker 27: Well, look, they're still going down, you know, still down

1679
01:26:21,200 --> 01:26:23,519
Speaker 27: quite a bit from a year ago, and the direction

1680
01:26:24,360 --> 01:26:27,559
Speaker 27: is still pointing firmly in that much softer direction. Although

1681
01:26:27,600 --> 01:26:29,599
Speaker 27: it has been interesting to see the sort of shift

1682
01:26:29,680 --> 01:26:32,840
Speaker 27: that is now merging between the likes of your standalone

1683
01:26:32,960 --> 01:26:36,679
Speaker 27: classic houses and your likes of your townhouses are similar.

1684
01:26:37,200 --> 01:26:40,760
Speaker 27: Standalone houses had been falling a lot more earlier on

1685
01:26:41,000 --> 01:26:44,400
Speaker 27: in the process. They now are showing those clearer signs

1686
01:26:44,479 --> 01:26:47,559
Speaker 27: in a sense of leveling out. Not confident in calling

1687
01:26:47,600 --> 01:26:49,879
Speaker 27: it too quickly, but there is a lot more evidence

1688
01:26:50,160 --> 01:26:52,920
Speaker 27: the likes of your townhouses of course much bigger part

1689
01:26:53,600 --> 01:26:56,439
Speaker 27: of construction these days. Compared to say, five years back,

1690
01:26:56,920 --> 01:26:59,000
Speaker 27: they are still falling, and I think that's just because

1691
01:26:59,040 --> 01:27:01,800
Speaker 27: effectively it takes bit longer for those those multi unit

1692
01:27:01,880 --> 01:27:05,679
Speaker 27: dwellings to get fully underway. Long story short, there's still

1693
01:27:05,760 --> 01:27:08,480
Speaker 27: not a lot of green shoots coming through yet for construction,

1694
01:27:08,880 --> 01:27:11,000
Speaker 27: despite the fact that those interest rates have started to

1695
01:27:11,080 --> 01:27:11,559
Speaker 27: pull lower.

1696
01:27:11,680 --> 01:27:13,040
Speaker 2: Yeah, when we do you expect to see that?

1697
01:27:14,640 --> 01:27:16,479
Speaker 27: Well, in a sense, I think it could be a

1698
01:27:16,560 --> 01:27:18,640
Speaker 27: little while. I mean, when we look at the fundamentals,

1699
01:27:18,680 --> 01:27:21,519
Speaker 27: we know the housing market still hasn't really shifted around

1700
01:27:21,680 --> 01:27:24,679
Speaker 27: much yet, and from a construction point of view, there's

1701
01:27:24,720 --> 01:27:26,920
Speaker 27: probably a lot of developers out there going well, I'd

1702
01:27:26,960 --> 01:27:28,840
Speaker 27: have to pay like twenty percent more to build a

1703
01:27:28,880 --> 01:27:31,200
Speaker 27: house than a couple of years ago. I'd make, you know,

1704
01:27:31,400 --> 01:27:35,120
Speaker 27: fourteen fifteen percent less on the house when I eventually

1705
01:27:35,200 --> 01:27:37,120
Speaker 27: sold it. And interest rates they might be coming down,

1706
01:27:37,200 --> 01:27:40,160
Speaker 27: but they're coming down from a higher position. So at

1707
01:27:40,240 --> 01:27:43,080
Speaker 27: the moment, that doesn't sort of stimulate a whole lot

1708
01:27:43,120 --> 01:27:45,719
Speaker 27: of activity on the sort of buyer side, on people

1709
01:27:45,760 --> 01:27:48,240
Speaker 27: that might be keen to get in again. A few

1710
01:27:48,320 --> 01:27:50,439
Speaker 27: more buyers that might be coming back into the market.

1711
01:27:50,720 --> 01:27:52,720
Speaker 27: But you look at those costs still jacking and you know,

1712
01:27:52,880 --> 01:27:56,479
Speaker 27: compared to you know, people's incomes. If you're own occupy,

1713
01:27:56,600 --> 01:27:58,519
Speaker 27: you're a first home buyer, it's still not easy to

1714
01:27:58,560 --> 01:28:00,960
Speaker 27: get money from the bank. If you're an investor, you're

1715
01:28:00,960 --> 01:28:03,599
Speaker 27: still looking at housing and going, well, my rents aren't

1716
01:28:03,640 --> 01:28:06,680
Speaker 27: going to make a huge huge hit in contribution to

1717
01:28:06,800 --> 01:28:09,680
Speaker 27: my income and to my mortgage repayments.

1718
01:28:09,760 --> 01:28:11,880
Speaker 2: So I think there's still a little bit of time yet.

1719
01:28:11,880 --> 01:28:14,759
Speaker 27: It's probably one of the later parts of the economy,

1720
01:28:15,000 --> 01:28:17,519
Speaker 27: the construction sector that might actually turn around.

1721
01:28:17,640 --> 01:28:19,800
Speaker 2: Yeah, there's a lag right on both the way up

1722
01:28:19,840 --> 01:28:22,799
Speaker 2: and the way down when it comes to monetary policy

1723
01:28:22,920 --> 01:28:25,679
Speaker 2: tightening and loosening. So it is going to take away

1724
01:28:25,720 --> 01:28:28,479
Speaker 2: while What about the impact of migration, because we've seen

1725
01:28:28,520 --> 01:28:32,040
Speaker 2: some massive migration numbers over the last few years. Yeah,

1726
01:28:32,240 --> 01:28:37,320
Speaker 2: obviously that is starting to drop pretty significantly. So what

1727
01:28:37,360 --> 01:28:38,519
Speaker 2: will that mean for demand?

1728
01:28:39,760 --> 01:28:42,439
Speaker 27: Well, this is a big, big shift, you're right, And

1729
01:28:42,479 --> 01:28:44,040
Speaker 27: I mean the last couple of years has just been

1730
01:28:44,080 --> 01:28:47,160
Speaker 27: so topsy turvy. Right, You've had some you know, obviously

1731
01:28:47,560 --> 01:28:50,720
Speaker 27: a plunge an activity through the pandemic, then you had

1732
01:28:50,760 --> 01:28:53,320
Speaker 27: a big burst up to the highest levels we've ever

1733
01:28:53,400 --> 01:28:56,320
Speaker 27: seen in terms of inward migration on a net basis,

1734
01:28:56,400 --> 01:28:58,479
Speaker 27: and then in recent times that's been you know, slowing

1735
01:28:58,560 --> 01:29:01,639
Speaker 27: down a lot quicker than it expected. Both fewer people

1736
01:29:01,720 --> 01:29:04,880
Speaker 27: coming into New Zealand than at those peak levels, but

1737
01:29:04,960 --> 01:29:08,160
Speaker 27: also a larger number of people who are leaving as well.

1738
01:29:08,240 --> 01:29:10,960
Speaker 27: So you still got population growth, it's just slowing back

1739
01:29:11,560 --> 01:29:14,400
Speaker 27: quite considerably. And I think realistically, looking at that, that

1740
01:29:14,520 --> 01:29:16,720
Speaker 27: says that if you look at the housing market, you

1741
01:29:16,760 --> 01:29:18,679
Speaker 27: look at the building market the next couple of years,

1742
01:29:19,400 --> 01:29:22,040
Speaker 27: if you've got population growth which is now slowing, you've

1743
01:29:22,080 --> 01:29:24,280
Speaker 27: still got those high building costs. You don't have a

1744
01:29:24,479 --> 01:29:27,439
Speaker 27: huge amount of a burst looking likely to come through

1745
01:29:27,880 --> 01:29:31,400
Speaker 27: on the house prices front, get to income limits and

1746
01:29:31,479 --> 01:29:32,639
Speaker 27: similar from the Reserve Bank.

1747
01:29:33,000 --> 01:29:34,920
Speaker 2: I think it is one of those areas where we're not.

1748
01:29:35,000 --> 01:29:37,960
Speaker 27: Expecting a huge bounce at all, and if it does come,

1749
01:29:38,000 --> 01:29:40,080
Speaker 27: it's going to take a while. The big challenge is

1750
01:29:40,160 --> 01:29:42,400
Speaker 27: that the construction sector the last couple of years has

1751
01:29:42,479 --> 01:29:45,120
Speaker 27: grown so much to be able to cater with such

1752
01:29:45,160 --> 01:29:47,240
Speaker 27: a high level of consents that we had at the peak.

1753
01:29:47,439 --> 01:29:49,880
Speaker 27: We've now probably got a bigger construction sector in terms

1754
01:29:49,920 --> 01:29:52,679
Speaker 27: of workforce. Then we will have going into the future

1755
01:29:52,720 --> 01:29:55,519
Speaker 27: in terms of a pipeline for residential work. So if

1756
01:29:55,560 --> 01:29:58,200
Speaker 27: we can shift those people into infrastructure, that might help.

1757
01:29:58,600 --> 01:30:01,680
Speaker 27: But realistically, like I say, some difficult times still for

1758
01:30:01,800 --> 01:30:05,080
Speaker 27: the construction sector. Not a huge amount of a turnaround yet.

1759
01:30:05,600 --> 01:30:07,000
Speaker 27: The most I think we can say is that we

1760
01:30:07,120 --> 01:30:09,000
Speaker 27: might be starting to find a bottom, but that'll be

1761
01:30:09,240 --> 01:30:10,479
Speaker 27: cold comfort for many.

1762
01:30:10,720 --> 01:30:10,920
Speaker 11: Yeah.

1763
01:30:11,160 --> 01:30:15,000
Speaker 2: Hey, just looking at the government's priorities for legislating over

1764
01:30:15,000 --> 01:30:16,519
Speaker 2: the next few months. I mean, you've got the fast

1765
01:30:16,560 --> 01:30:21,439
Speaker 2: track various other infrastructure policies, including the funding and financing

1766
01:30:21,520 --> 01:30:24,120
Speaker 2: tools for housing, and obviously the Housing Minister Chris Biership

1767
01:30:24,200 --> 01:30:26,880
Speaker 2: is looking to make some pretty significant inroads here. What

1768
01:30:27,120 --> 01:30:30,439
Speaker 2: role do you think central government policy might play in

1769
01:30:30,600 --> 01:30:34,040
Speaker 2: speeding up construction. I think for a lot of the

1770
01:30:34,680 --> 01:30:36,680
Speaker 2: options that the government has on the table in its

1771
01:30:36,800 --> 01:30:40,719
Speaker 2: latest quarterly Action Plan are important long term for construction

1772
01:30:41,000 --> 01:30:44,080
Speaker 2: and generally for New Zealand's economy. You know, some of

1773
01:30:44,160 --> 01:30:46,320
Speaker 2: those changes will set us up better in the future,

1774
01:30:46,520 --> 01:30:48,240
Speaker 2: but they are unlikely in my mind, to have an

1775
01:30:48,240 --> 01:30:51,640
Speaker 2: immediate impact. Probably much more significant is the fact that

1776
01:30:51,720 --> 01:30:54,880
Speaker 2: you've got education consents across the country they're running. I

1777
01:30:54,960 --> 01:30:57,880
Speaker 2: think they're lowest in about fourteen years on a cost

1778
01:30:58,600 --> 01:31:01,840
Speaker 2: adjustment basis. If you look at the likes of again,

1779
01:31:01,920 --> 01:31:04,280
Speaker 2: you know, all the talk around hospitals and similar recently

1780
01:31:04,400 --> 01:31:06,519
Speaker 2: the talk around social palsing.

1781
01:31:07,040 --> 01:31:10,120
Speaker 27: Without any of those government public sector dollars coming into

1782
01:31:10,160 --> 01:31:13,360
Speaker 27: the construction sector, you know, these longer plans aren't going

1783
01:31:13,400 --> 01:31:14,679
Speaker 27: to make a huge impact.

1784
01:31:14,720 --> 01:31:15,679
Speaker 3: But I do think as.

1785
01:31:15,600 --> 01:31:18,679
Speaker 27: Well the previous government quite clearly put too much money

1786
01:31:18,760 --> 01:31:20,760
Speaker 27: into the construction sector at a time when there was

1787
01:31:20,800 --> 01:31:23,360
Speaker 27: already a lot of private sector stuff. That's partly why

1788
01:31:23,439 --> 01:31:26,320
Speaker 27: we got those high levels of cost escalation and construction.

1789
01:31:26,479 --> 01:31:29,160
Speaker 27: So I understand why the government can't spend as much,

1790
01:31:29,200 --> 01:31:31,280
Speaker 27: but it does leave us in a position now where

1791
01:31:31,320 --> 01:31:34,360
Speaker 27: the private sector and the public sector both aren't spending

1792
01:31:34,400 --> 01:31:36,559
Speaker 27: as much as we might all like on construction.

1793
01:31:36,720 --> 01:31:38,559
Speaker 2: Yeah, all right, I know we're just over a week out,

1794
01:31:38,600 --> 01:31:40,640
Speaker 2: but whither you stand at the moment, twenty five or

1795
01:31:40,680 --> 01:31:42,240
Speaker 2: fifty basis points next week.

1796
01:31:42,960 --> 01:31:45,320
Speaker 27: I'm still sitting on twenty five, just because if you

1797
01:31:45,360 --> 01:31:47,040
Speaker 27: look at what the Reserve Bank has said, and they've

1798
01:31:47,080 --> 01:31:49,120
Speaker 27: said pretty clearly we should listen to what they say.

1799
01:31:49,720 --> 01:31:50,519
Speaker 2: They said, Look.

1800
01:31:50,400 --> 01:31:54,040
Speaker 27: Here's the conditions for continued interest rate declines of a

1801
01:31:54,120 --> 01:31:57,559
Speaker 27: normal pace, and we've had that data come out pretty normally.

1802
01:31:57,600 --> 01:31:59,280
Speaker 27: In fact, you look at some of the data, the

1803
01:31:59,400 --> 01:32:02,439
Speaker 27: likes of GDP and similar actually a bit better than

1804
01:32:02,479 --> 01:32:04,360
Speaker 27: the Reserve Bank hope. So I don't know if there's

1805
01:32:04,479 --> 01:32:07,160
Speaker 27: enough there for them to call fifty. I wouldn't put

1806
01:32:07,160 --> 01:32:08,680
Speaker 27: it out of my mind for November though.

1807
01:32:08,840 --> 01:32:11,479
Speaker 2: All right, look forward to that. Thanks Brad, appreciate your time.

1808
01:32:11,520 --> 01:32:14,160
Speaker 2: Brad Olsen from Informetrics. There in a couple of minutes

1809
01:32:14,160 --> 01:32:16,920
Speaker 2: on Newstalks, he'd be the man formerly known as Prince

1810
01:32:17,320 --> 01:32:19,680
Speaker 2: Harry is back in London, So will he meet with

1811
01:32:19,840 --> 01:32:22,400
Speaker 2: his family? Will take you to the UK next score

1812
01:32:22,439 --> 01:32:22,800
Speaker 2: to seven?

1813
01:32:24,520 --> 01:32:28,320
Speaker 1: Whether it's macro micro or just playing economics. It's all

1814
01:32:28,400 --> 01:32:31,960
Speaker 1: on the Business Hour with Jack Tam and my HR

1815
01:32:32,320 --> 01:32:36,880
Speaker 1: the HR Solution for busy SMEs News Talks ab UK Corresponding.

1816
01:32:36,920 --> 01:32:41,240
Speaker 2: Andy Brady is with us this evening today. Hey Jack,

1817
01:32:41,320 --> 01:32:43,880
Speaker 2: how are you very well? Thank you? So Harry is

1818
01:32:44,120 --> 01:32:45,960
Speaker 2: back in London. What's this going to mean? Is there

1819
01:32:46,000 --> 01:32:47,599
Speaker 2: going to be a family reunion of sorts?

1820
01:32:49,160 --> 01:32:52,280
Speaker 20: Well, we simply don't know, but the newspapers Reckon not

1821
01:32:52,840 --> 01:32:56,439
Speaker 20: Charles is in Balmorrel up in Scotland, and William is

1822
01:32:56,479 --> 01:32:59,559
Speaker 20: with his family in Windsor now where Harry has stayed

1823
01:32:59,560 --> 01:33:01,920
Speaker 20: over and we don't know, but the hotel that he

1824
01:33:02,040 --> 01:33:05,160
Speaker 20: was at for this charity function for very sick young

1825
01:33:05,280 --> 01:33:07,680
Speaker 20: children is in central London. It would have taken him

1826
01:33:08,080 --> 01:33:10,400
Speaker 20: less than half an hour with a police escort to

1827
01:33:10,439 --> 01:33:13,479
Speaker 20: get to where William's house is. So look, it's not

1828
01:33:13,640 --> 01:33:16,840
Speaker 20: geography or logistics that's the problem here. I think we're

1829
01:33:17,000 --> 01:33:21,320
Speaker 20: really seeing a chasm between these two brothers. As I say,

1830
01:33:21,520 --> 01:33:23,759
Speaker 20: Charles up in Scotland, so he's not going to travel

1831
01:33:23,840 --> 01:33:26,080
Speaker 20: that far. I think he will make a very quick

1832
01:33:26,240 --> 01:33:28,800
Speaker 20: about turn and head back to his family in California.

1833
01:33:29,200 --> 01:33:32,439
Speaker 20: And I find it desperately sad because the love of

1834
01:33:32,520 --> 01:33:35,719
Speaker 20: this guy has the potential I think that is inside

1835
01:33:35,800 --> 01:33:37,960
Speaker 20: Harry and the good that he could have done this

1836
01:33:38,200 --> 01:33:41,120
Speaker 20: country and the rest of the world, and we're not

1837
01:33:41,320 --> 01:33:44,120
Speaker 20: really seeing it. So I mean, he's just a natural

1838
01:33:44,600 --> 01:33:49,360
Speaker 20: with young people, with disadvantaged people, very sick children. Last night,

1839
01:33:49,720 --> 01:33:52,120
Speaker 20: He's a complete natural. And I think it's such a

1840
01:33:52,240 --> 01:33:55,200
Speaker 20: shame for the family and for the UK and the

1841
01:33:55,240 --> 01:33:57,679
Speaker 20: Commonwealth that all of this has come to pass.

1842
01:33:57,880 --> 01:34:00,400
Speaker 2: Yeah, yeah, I totally agree with you Onett. I totally

1843
01:34:00,439 --> 01:34:02,200
Speaker 2: agree with you on that. It will be interesting to

1844
01:34:02,240 --> 01:34:03,960
Speaker 2: see if maybe the paper is going to be proved

1845
01:34:03,960 --> 01:34:05,880
Speaker 2: wrong on this occasion and they will meet up. But

1846
01:34:05,960 --> 01:34:08,280
Speaker 2: we'll wait and see. Hey, the UK has turned off

1847
01:34:08,360 --> 01:34:10,320
Speaker 2: its last coal power plant.

1848
01:34:12,120 --> 01:34:14,760
Speaker 20: Yeah, this is big news actually, so they've just had

1849
01:34:14,800 --> 01:34:19,360
Speaker 20: the last ever night shift at this coal plant outside Nottingham.

1850
01:34:19,800 --> 01:34:24,360
Speaker 20: Coal fueled the industrial revolution here, it basically built Britain

1851
01:34:24,800 --> 01:34:27,599
Speaker 20: and overnight they have flicked the switch for the very

1852
01:34:27,680 --> 01:34:30,800
Speaker 20: last time. There will be no more electricity produced across

1853
01:34:31,000 --> 01:34:33,759
Speaker 20: any of the grids in the United Kingdom that's powered

1854
01:34:33,800 --> 01:34:37,760
Speaker 20: by fossil fuel. So a huge step forward, no coincidence.

1855
01:34:37,840 --> 01:34:41,600
Speaker 20: This is happening under Labor and Keir Starmer. He's absolutely

1856
01:34:41,800 --> 01:34:45,599
Speaker 20: determined to make cleaner energy, launching a company called Great

1857
01:34:45,640 --> 01:34:48,200
Speaker 20: British Energy as well. And the first six months of

1858
01:34:48,240 --> 01:34:51,320
Speaker 20: this year jack fifty percent five zero percent of the

1859
01:34:51,400 --> 01:34:56,320
Speaker 20: UK's energy needs and electricity came from renewables, so huge

1860
01:34:56,400 --> 01:34:59,000
Speaker 20: leaps have been made in recent years. Look, we're still

1861
01:34:59,040 --> 01:35:01,840
Speaker 20: behind some European countries like France, for example, but the

1862
01:35:02,000 --> 01:35:04,160
Speaker 20: UK is getting there and that is the end of

1863
01:35:04,240 --> 01:35:06,799
Speaker 20: an era. No more coal power in Britain.

1864
01:35:06,960 --> 01:35:10,360
Speaker 2: Yeah, it's remarkable, really, isn't it. When you think not

1865
01:35:10,560 --> 01:35:13,479
Speaker 2: just the role of coal power, but of the role

1866
01:35:13,560 --> 01:35:16,680
Speaker 2: of industry, and especially in parts of you know, of

1867
01:35:16,800 --> 01:35:19,800
Speaker 2: northern England around Newcastle, it seems remarkable that this day

1868
01:35:20,200 --> 01:35:21,920
Speaker 2: would be upon us. We we'll just talk to us

1869
01:35:21,920 --> 01:35:24,200
Speaker 2: a bit about the public sentiment there. I mean, how

1870
01:35:24,240 --> 01:35:26,240
Speaker 2: do people feel about this? So people have see it.

1871
01:35:28,280 --> 01:35:31,360
Speaker 20: I think in coal mining communities that were decimated in

1872
01:35:31,439 --> 01:35:35,000
Speaker 20: the eighties under Margaret Thatcher because she drove people into

1873
01:35:35,080 --> 01:35:37,360
Speaker 20: the ground really trying to break the unions, I think

1874
01:35:38,080 --> 01:35:40,519
Speaker 20: there will be It's a bittersweet moment. I think a

1875
01:35:40,560 --> 01:35:42,639
Speaker 20: lot of people will have memories of their dad, their

1876
01:35:42,680 --> 01:35:48,799
Speaker 20: granddad working in coal mining communities South Wales, northeast of England, Yorkshire.

1877
01:35:49,360 --> 01:35:50,200
Speaker 7: All that is gone.

1878
01:35:50,320 --> 01:35:53,640
Speaker 20: I mean, it is consigned to history. So we're moving on.

1879
01:35:54,280 --> 01:35:56,960
Speaker 20: But ultimately, you know, what we need to see now

1880
01:35:57,200 --> 01:36:01,360
Speaker 20: is more renewable energy, cleaner energy, cheap energy. And when

1881
01:36:01,400 --> 01:36:04,240
Speaker 20: you look at the coastline of the United Kingdom, you

1882
01:36:04,320 --> 01:36:06,680
Speaker 20: look at the wind. And I've been lucky enough to

1883
01:36:06,720 --> 01:36:08,920
Speaker 20: travel a lot in Scandinavia, in the last few years.

1884
01:36:09,200 --> 01:36:11,200
Speaker 20: You see how they do it there, You know we

1885
01:36:11,280 --> 01:36:12,879
Speaker 20: are lagging behind hugely.

1886
01:36:13,840 --> 01:36:16,599
Speaker 2: Hi, Bori Speaker has been married for what is it now,

1887
01:36:16,960 --> 01:36:17,719
Speaker 2: the third time?

1888
01:36:19,160 --> 01:36:21,400
Speaker 20: Yes, so lovely pictures in the papers today. I was

1889
01:36:21,479 --> 01:36:24,040
Speaker 20: smiling Boris Becker because the last time we saw him

1890
01:36:24,040 --> 01:36:26,639
Speaker 20: in the papers he was leaving prison. Would you believe

1891
01:36:26,920 --> 01:36:29,719
Speaker 20: here in Oxfordshire where I live, he served six months

1892
01:36:29,800 --> 01:36:33,479
Speaker 20: of ascendence that was to do with financial crime relating

1893
01:36:33,520 --> 01:36:34,480
Speaker 20: to his bankruptcy.

1894
01:36:34,800 --> 01:36:35,960
Speaker 11: So he looks the part.

1895
01:36:36,080 --> 01:36:38,439
Speaker 20: I mean, he still looks fit and healthy and handsome.

1896
01:36:38,520 --> 01:36:42,120
Speaker 20: His bride has dropped their gorgeous Lilian. She's thirty three

1897
01:36:42,880 --> 01:36:45,240
Speaker 20: and it's third time lucky for Boris Becker. Two of

1898
01:36:45,280 --> 01:36:49,000
Speaker 20: his children from his first man marriage were there Portafino, Italy.

1899
01:36:49,320 --> 01:36:51,600
Speaker 20: Beautiful wedding pictures. But you just hope he stays on

1900
01:36:51,640 --> 01:36:53,800
Speaker 20: the straight and narrow now and that you know all

1901
01:36:53,840 --> 01:36:57,160
Speaker 20: the negative headlines surrounding Boris Becker, you know that he

1902
01:36:57,320 --> 01:36:59,559
Speaker 20: turns a leaf and these are happier days for him

1903
01:36:59,640 --> 01:37:00,519
Speaker 20: and his new wife.

1904
01:37:00,840 --> 01:37:03,439
Speaker 2: So I've just looked at that. Though only two, but

1905
01:37:03,600 --> 01:37:06,400
Speaker 2: he's got four kids, right, so all yes.

1906
01:37:06,520 --> 01:37:11,360
Speaker 20: So it's quite a complicated private life Boris Specker has,

1907
01:37:11,400 --> 01:37:13,800
Speaker 20: which I won't remind our listeners to at this time

1908
01:37:13,800 --> 01:37:16,240
Speaker 20: of the day. But he's been a busy man over

1909
01:37:16,280 --> 01:37:19,320
Speaker 20: the years, borspeer, but honestly, Jack, probably before your day.

1910
01:37:19,320 --> 01:37:21,880
Speaker 20: I remember being in my grandmother's kitchen in nineteen eighty

1911
01:37:21,960 --> 01:37:25,360
Speaker 20: five in County Wicklow watching him win Wimbledon at the

1912
01:37:25,439 --> 01:37:29,519
Speaker 20: age of seventeen unseeded. Amazing. I mean, what a what

1913
01:37:29,680 --> 01:37:32,400
Speaker 20: a career, and then eight more Grand Slams. He's had

1914
01:37:32,400 --> 01:37:34,400
Speaker 20: an amazing career. But good luck to him, man the

1915
01:37:34,439 --> 01:37:34,920
Speaker 20: happy couple.

1916
01:37:35,000 --> 01:37:36,640
Speaker 2: I mean, he's still in pretty good neck, isn't he

1917
01:37:36,880 --> 01:37:38,840
Speaker 2: he see? I know he said a few ups and

1918
01:37:38,880 --> 01:37:40,880
Speaker 2: downs over the years, but he he's in pretty good,

1919
01:37:40,960 --> 01:37:45,040
Speaker 2: pretty good neck, I reckon pretty good fatal Yeah he is.

1920
01:37:45,200 --> 01:37:47,160
Speaker 20: He looks good and I mean he just needs to

1921
01:37:47,240 --> 01:37:49,599
Speaker 20: get himself straight now. I mean he's had a few

1922
01:37:49,720 --> 01:37:52,720
Speaker 20: years from hell, but all of his own making, I mean,

1923
01:37:52,880 --> 01:37:55,600
Speaker 20: not cooperating with the authorities in the UK when it

1924
01:37:55,680 --> 01:37:59,840
Speaker 20: comes to financial crime. They have geniuses who will unpick

1925
01:38:00,040 --> 01:38:03,120
Speaker 20: absolutely everything. I'm not quite sure he realized that.

1926
01:38:03,400 --> 01:38:05,120
Speaker 2: Yeah, all right, hey, thanks so much for your time

1927
01:38:05,200 --> 01:38:07,840
Speaker 2: and that we appreciate it as ever Endebrady, a UK

1928
01:38:08,000 --> 01:38:10,639
Speaker 2: correspondent there right now. It is seven minutes to seven

1929
01:38:10,760 --> 01:38:11,640
Speaker 2: on newstorgs EDB.

1930
01:38:12,479 --> 01:38:16,320
Speaker 1: Whether it's macro micro or just plain economics, it's all

1931
01:38:16,439 --> 01:38:20,040
Speaker 1: on the Business Hour with Heather Duplicy, Allen and my HR,

1932
01:38:20,400 --> 01:38:23,760
Speaker 1: the HR platform for SME, NEWSTALKSB.

1933
01:38:24,000 --> 01:38:27,759
Speaker 2: News Talk ZEDB. Thank you very much for your company

1934
01:38:27,800 --> 01:38:30,839
Speaker 2: throughout the afternoon. We are almost done for today. Tomorrow

1935
01:38:30,880 --> 01:38:32,800
Speaker 2: big day and US politics of course can't wait for this.

1936
01:38:33,439 --> 01:38:37,280
Speaker 2: The veep debate, Tim Wolves and JD Varance will be

1937
01:38:37,360 --> 01:38:38,880
Speaker 2: facing off. It's going to be a little bit different

1938
01:38:38,880 --> 01:38:40,639
Speaker 2: to the presidential debate, of which there will.

1939
01:38:40,560 --> 01:38:41,120
Speaker 11: Only be one.

1940
01:38:41,479 --> 01:38:44,160
Speaker 2: Well if we don't include that first one between Biden

1941
01:38:44,200 --> 01:38:46,760
Speaker 2: and Trump, because this one is not going to be

1942
01:38:46,840 --> 01:38:48,800
Speaker 2: fact checked live. It's not going to be fact checked

1943
01:38:48,800 --> 01:38:52,360
Speaker 2: by the moderators. It's up to the candidates themselves to

1944
01:38:52,439 --> 01:38:55,200
Speaker 2: fact check each other. So that could be interesting. Kicks

1945
01:38:55,240 --> 01:38:57,320
Speaker 2: off two BM New Zealand time. I think it's down

1946
01:38:57,400 --> 01:39:00,519
Speaker 2: for ninety minutes at the moment I reckon it's going

1947
01:39:00,560 --> 01:39:03,720
Speaker 2: to be. I meant, not necessarily a different time, but

1948
01:39:03,800 --> 01:39:07,240
Speaker 2: certainly quite different from the first time round. Anyway, Andy

1949
01:39:07,400 --> 01:39:09,120
Speaker 2: has chosen the beats to play us out to know

1950
01:39:09,200 --> 01:39:09,680
Speaker 2: what do you go for?

1951
01:39:09,840 --> 01:39:12,240
Speaker 28: I have indeed because it's a bit of controversy in

1952
01:39:12,560 --> 01:39:15,120
Speaker 28: India at the moment because they've got Coldplay coming. Yeah,

1953
01:39:15,720 --> 01:39:18,719
Speaker 28: tickets for the show have gone up to eleven thousand

1954
01:39:18,800 --> 01:39:21,000
Speaker 28: dollars on the black market, so they've got the police

1955
01:39:21,080 --> 01:39:24,720
Speaker 28: involved apparently like your general punters couldn't get them, and

1956
01:39:24,840 --> 01:39:27,360
Speaker 28: then they all the bots got them and now they're

1957
01:39:27,400 --> 01:39:30,760
Speaker 28: back on these reselling websites. It's and one of the

1958
01:39:30,840 --> 01:39:33,519
Speaker 28: guys has been hauled over the coals in front of

1959
01:39:33,520 --> 01:39:34,439
Speaker 28: the Mumbai police.

1960
01:39:34,560 --> 01:39:37,160
Speaker 2: Oh there, it's crazy. Eleven thousand dollars is a bit

1961
01:39:37,360 --> 01:39:38,080
Speaker 2: nuts though, isn't it.

1962
01:39:38,200 --> 01:39:38,360
Speaker 1: It is?

1963
01:39:38,400 --> 01:39:40,960
Speaker 2: Indeed news zedv dot cod on inzed for everything from

1964
01:39:41,000 --> 01:39:42,800
Speaker 2: our show. You can find all our news updates at

1965
01:39:42,960 --> 01:39:45,280
Speaker 2: zid Herald dot cod on in dead as well. Darcy

1966
01:39:45,320 --> 01:39:48,400
Speaker 2: Waldgrave is going to take you through the evening. Sports

1967
01:39:48,479 --> 01:39:51,320
Speaker 2: talk kicks off right after the seven o'clock news. I'm

1968
01:39:51,360 --> 01:39:54,320
Speaker 2: back tomorrow from four o'clock till then have a wonderful evening.

1969
01:40:04,360 --> 01:40:07,479
Speaker 1: For more from hither Duplessy Allen Drive listen live to

1970
01:40:07,640 --> 01:40:10,639
Speaker 1: news talks. It'd be from four pm weekdays or follow

1971
01:40:10,680 --> 01:40:12,440
Speaker 1: the podcast on iHeartRadio,