1 00:00:00,040 --> 00:00:01,880 Speaker 1: The Prime Minister's with us this Monday morning. Good to 2 00:00:01,920 --> 00:00:03,960 Speaker 1: see you, to see him, Mike, welcome back to the country. 3 00:00:04,000 --> 00:00:05,920 Speaker 1: We on a personal note, we must check him with 4 00:00:05,960 --> 00:00:09,000 Speaker 1: Mark Mitchell's wedding over the weekend, giving he's a regular 5 00:00:09,039 --> 00:00:12,239 Speaker 1: on this program. Did it go well? It went really well. 6 00:00:12,280 --> 00:00:15,000 Speaker 2: I can reassure you he's married, he's off the market, 7 00:00:15,440 --> 00:00:17,599 Speaker 2: and he had a great time. It was. I was 8 00:00:17,600 --> 00:00:19,240 Speaker 2: there just for a few hours over the wedding and 9 00:00:19,840 --> 00:00:21,720 Speaker 2: it was just great. He's got an awesome family, he's 10 00:00:21,720 --> 00:00:23,479 Speaker 2: got a great set of friends, and it was a 11 00:00:23,480 --> 00:00:24,680 Speaker 2: great celebration of the two of them. 12 00:00:24,720 --> 00:00:27,280 Speaker 1: He said on Wednesday he'd written his own vows and 13 00:00:27,520 --> 00:00:30,640 Speaker 1: was struggling with them emotionally. Did he deliver them well? 14 00:00:30,680 --> 00:00:31,560 Speaker 1: He delivered them well. 15 00:00:31,600 --> 00:00:33,919 Speaker 2: He texted me literally half an hour beforehand to say 16 00:00:33,920 --> 00:00:36,400 Speaker 2: he was feeling a bit nervous, uncharacteristically nervous for Mark. 17 00:00:36,479 --> 00:00:39,640 Speaker 2: But given everything that boy's done in his life, that 18 00:00:39,840 --> 00:00:42,040 Speaker 2: was that was quite something. But no, no, it was 19 00:00:42,080 --> 00:00:43,559 Speaker 2: really special. It was lovely to see that they are 20 00:00:43,560 --> 00:00:45,440 Speaker 2: a great couple and the way they look after each 21 00:00:45,479 --> 00:00:46,880 Speaker 2: other and support each other's pretty awesome. 22 00:00:46,920 --> 00:00:47,800 Speaker 1: Did you take a gift? 23 00:00:48,760 --> 00:00:51,640 Speaker 2: I did, yes, yes, what what did you give him? 24 00:00:52,159 --> 00:00:54,520 Speaker 2: It was some ceramics from waihik Yahan from a great 25 00:00:54,520 --> 00:00:55,200 Speaker 2: potter over there. 26 00:00:55,800 --> 00:00:58,800 Speaker 1: Yeah, yeah, yeah, very good? Are they nice? Well said? 27 00:00:58,880 --> 00:00:59,600 Speaker 1: Let's put it this way. 28 00:00:59,680 --> 00:01:01,520 Speaker 2: It was later than the gift that I gave you 29 00:01:01,560 --> 00:01:04,080 Speaker 2: at Christmas time, May Whiline, which wouldn't have been hard. 30 00:01:04,080 --> 00:01:05,920 Speaker 1: You know, I love the gift you gave Christmas time. 31 00:01:05,959 --> 00:01:06,880 Speaker 1: Stuff in the snooker hole. 32 00:01:07,000 --> 00:01:07,200 Speaker 2: Yeah. 33 00:01:07,720 --> 00:01:12,399 Speaker 1: The Fitch down grade, yeah, does that reflect your economic management? Now? 34 00:01:12,520 --> 00:01:14,959 Speaker 2: What it really reflects is the need for very good 35 00:01:15,000 --> 00:01:18,040 Speaker 2: economic management. You know, you're seeing post COVID, as you 36 00:01:18,080 --> 00:01:20,520 Speaker 2: saw in the inquiry, but also in the Treasury report 37 00:01:20,959 --> 00:01:22,679 Speaker 2: that if you run up the spending, run up the 38 00:01:22,720 --> 00:01:26,520 Speaker 2: debt as has been done, that limits our flexibility going forward. 39 00:01:26,560 --> 00:01:29,360 Speaker 2: And that's a worry and a concern. That's why as 40 00:01:29,400 --> 00:01:32,000 Speaker 2: we think through cost of living support for people in 41 00:01:32,040 --> 00:01:34,160 Speaker 2: the fuel challenges that we've got today, we've got to 42 00:01:34,200 --> 00:01:38,400 Speaker 2: balance the target with also being very responsible economic managers 43 00:01:38,400 --> 00:01:40,880 Speaker 2: as well. So it's just a good reminder of good 44 00:01:40,880 --> 00:01:45,640 Speaker 2: financial discipline really matters. And it's a movement on what's 45 00:01:45,680 --> 00:01:47,600 Speaker 2: called the watch. It's not actually a downgrade in the 46 00:01:47,760 --> 00:01:50,760 Speaker 2: rating per se. But it's a good reminder that good 47 00:01:50,760 --> 00:01:53,680 Speaker 2: economic management matters, and you know the fragility of New 48 00:01:53,720 --> 00:01:57,040 Speaker 2: Zealand's economic position and the debt position in particular. 49 00:01:57,280 --> 00:01:59,360 Speaker 1: It's There was a poll out in Australia last week. 50 00:01:59,520 --> 00:02:02,080 Speaker 1: Their story slightly different from ours economically at the moment, 51 00:02:02,160 --> 00:02:04,360 Speaker 1: especially around inflation, and the poll was taken at the 52 00:02:04,480 --> 00:02:06,840 Speaker 1: very start of the war. But the outcome of the 53 00:02:06,840 --> 00:02:10,680 Speaker 1: poll was that people blame the government for their circumstances. 54 00:02:10,680 --> 00:02:13,760 Speaker 1: Do you worry an election year that people will blame 55 00:02:13,880 --> 00:02:16,600 Speaker 1: you for what may unfold as a result of the war? 56 00:02:16,800 --> 00:02:18,520 Speaker 2: Look, I mean, I think I think these Islanders are 57 00:02:18,560 --> 00:02:21,440 Speaker 2: just we're all tired. Right. We've rolled in through COVID, 58 00:02:21,440 --> 00:02:24,480 Speaker 2: We've come out through inflation and recession. On the other side, 59 00:02:24,520 --> 00:02:26,320 Speaker 2: We've dealt with tariffs last year, we're dealing with the 60 00:02:26,360 --> 00:02:29,040 Speaker 2: fuel crisis this year. People are just saying, well, well, 61 00:02:29,040 --> 00:02:31,400 Speaker 2: life get back to normal. I was down on Hamilton 62 00:02:31,480 --> 00:02:33,200 Speaker 2: on the weekend and yeah, that's sort of what people 63 00:02:33,240 --> 00:02:35,320 Speaker 2: are really wanting to know. What I need them to 64 00:02:35,360 --> 00:02:37,720 Speaker 2: know is that, you know, having good response to economic 65 00:02:37,800 --> 00:02:39,720 Speaker 2: managers and difficult times like this and when it's a 66 00:02:39,800 --> 00:02:43,320 Speaker 2: lot of volatility is actually really important. We will do 67 00:02:43,320 --> 00:02:45,000 Speaker 2: everything we can to support in these elders, but I 68 00:02:45,040 --> 00:02:46,679 Speaker 2: have to be really straight up and honest and say 69 00:02:46,720 --> 00:02:50,079 Speaker 2: we cannot support everybody to the extent they probably want 70 00:02:50,080 --> 00:02:52,200 Speaker 2: to be supported, because we're going to deal with some 71 00:02:52,240 --> 00:02:54,040 Speaker 2: of the financial constraints that we've got. 72 00:02:54,520 --> 00:02:56,120 Speaker 1: Let me come back to the specifics of that in 73 00:02:56,160 --> 00:02:57,600 Speaker 1: the moment. I don't know if you're aware of this, 74 00:02:57,680 --> 00:03:02,360 Speaker 1: but Mark Rutter overnight NOTO Secretary. He's responding to Trump's 75 00:03:02,520 --> 00:03:06,120 Speaker 1: fury over the lack of NATO support and general global support, 76 00:03:06,200 --> 00:03:09,680 Speaker 1: especially around the Strait. But he says, quote good news. 77 00:03:09,880 --> 00:03:12,639 Speaker 1: We're coming together to implement his vision and making sure 78 00:03:12,720 --> 00:03:15,640 Speaker 1: that the straight up of moves is free. Other nations 79 00:03:15,720 --> 00:03:20,440 Speaker 1: involved in this are Japan, Career, Australia, New Zealand, Bahrain 80 00:03:20,480 --> 00:03:22,200 Speaker 1: and the UAE. Are we involved in this? 81 00:03:22,320 --> 00:03:24,639 Speaker 2: No, It's what he's referencing is two things. One is 82 00:03:24,680 --> 00:03:27,079 Speaker 2: there's a statement that we signed up for on Friday night, 83 00:03:27,160 --> 00:03:30,560 Speaker 2: which is essentially like minded countries like our saying hey listen, 84 00:03:30,639 --> 00:03:32,160 Speaker 2: you know and reason we signed up for it is 85 00:03:32,240 --> 00:03:34,840 Speaker 2: Keywi's are paying under pressure with a fuel pump. Get it? 86 00:03:35,280 --> 00:03:37,440 Speaker 2: Why is that happening? It's happening because the boats. There's 87 00:03:37,440 --> 00:03:39,000 Speaker 2: three and a half thousand ships that can't get through 88 00:03:39,040 --> 00:03:40,960 Speaker 2: the straight uphill moves at the moment. Why is that 89 00:03:41,000 --> 00:03:43,360 Speaker 2: happening Because the Iranians are then attacking those ships, which 90 00:03:43,440 --> 00:03:45,840 Speaker 2: is actually against something called the freedom of navigation and 91 00:03:45,880 --> 00:03:48,320 Speaker 2: the rules based sort of system. So we've come out 92 00:03:48,360 --> 00:03:50,160 Speaker 2: to condemn Iran for that and. 93 00:03:50,160 --> 00:03:52,120 Speaker 1: To say that has So that's that's all we're doing. 94 00:03:52,240 --> 00:03:54,040 Speaker 2: Yeah. The second part of what they are alluding to 95 00:03:54,240 --> 00:03:56,880 Speaker 2: is then there is discussion around multilateral efforts to how 96 00:03:56,920 --> 00:03:59,640 Speaker 2: you might go about doing that. We have not been asked, 97 00:03:59,680 --> 00:04:01,480 Speaker 2: we have not been engaged on any of that, and 98 00:04:01,560 --> 00:04:04,520 Speaker 2: obviously any future decisions around that we'd have to have 99 00:04:04,560 --> 00:04:07,560 Speaker 2: a pretty big discussion at cabinet. So I think, you know, 100 00:04:07,640 --> 00:04:09,920 Speaker 2: that's getting well ahead of itself in terms of our 101 00:04:09,960 --> 00:04:12,440 Speaker 2: focus is on standing up. You know, often people say 102 00:04:12,480 --> 00:04:13,920 Speaker 2: we've got to send up the rules based system. 103 00:04:13,960 --> 00:04:14,600 Speaker 1: Well we are. 104 00:04:15,040 --> 00:04:16,440 Speaker 2: This is an example of how you do it with 105 00:04:16,480 --> 00:04:20,000 Speaker 2: light minded countries to say, hey, listen, Iran, why why 106 00:04:20,080 --> 00:04:21,839 Speaker 2: you're lashing out at countries that have got nothing to 107 00:04:21,880 --> 00:04:24,560 Speaker 2: do with the strike on you that is US and 108 00:04:24,640 --> 00:04:25,240 Speaker 2: Israeli action. 109 00:04:25,320 --> 00:04:26,200 Speaker 1: Well, because they're desperate. 110 00:04:26,320 --> 00:04:28,840 Speaker 2: Yeah, exactly, and so but we've got to call that out. 111 00:04:29,720 --> 00:04:31,839 Speaker 2: The key thing I'm really focused on, Mike, to be honest, 112 00:04:31,880 --> 00:04:34,400 Speaker 2: is that security of supply. That's really what we've got 113 00:04:34,480 --> 00:04:37,200 Speaker 2: to maintain. We're in quite good shape, even relative to 114 00:04:37,200 --> 00:04:40,560 Speaker 2: the Australians. Frankly, we've we've got higher levels of stock cover. 115 00:04:41,480 --> 00:04:44,159 Speaker 2: All our ships came through over the last week, which 116 00:04:44,240 --> 00:04:44,599 Speaker 2: is good. 117 00:04:44,720 --> 00:04:46,400 Speaker 1: Do you have anything new on that because I asked 118 00:04:46,480 --> 00:04:48,520 Speaker 1: Nicola about this on Fridays. You didn't seem to know 119 00:04:49,040 --> 00:04:51,800 Speaker 1: post the ships on the water coming here. I get 120 00:04:51,839 --> 00:04:56,000 Speaker 1: all of that. Beyond that next round of contracts are 121 00:04:56,040 --> 00:04:59,080 Speaker 1: they in and do they do? We know those ships 122 00:04:59,080 --> 00:04:59,440 Speaker 1: are coming. 123 00:05:00,720 --> 00:05:03,160 Speaker 2: We haven't heard any advice that they're not coming. So, 124 00:05:03,279 --> 00:05:05,400 Speaker 2: like I mean, when we talk to the oil companies daily, 125 00:05:05,480 --> 00:05:07,280 Speaker 2: they are still love the view that they're getting their 126 00:05:07,400 --> 00:05:10,279 Speaker 2: orders coming through. You would have seen overnight, I'd see 127 00:05:10,279 --> 00:05:14,279 Speaker 2: the Japanese reckon. They've got some ships through. We obviously 128 00:05:14,320 --> 00:05:16,320 Speaker 2: get our supply out of South Korea, which is good 129 00:05:16,360 --> 00:05:19,400 Speaker 2: about forty about yeah, forty five percent. We get about 130 00:05:19,400 --> 00:05:23,040 Speaker 2: thirty percent out of Singapore. I'm talking to the Singapore 131 00:05:23,040 --> 00:05:26,280 Speaker 2: and Prime Minister in the next next week while and 132 00:05:26,480 --> 00:05:29,159 Speaker 2: you know, they've all reassured us that they've got good, good. 133 00:05:28,960 --> 00:05:31,039 Speaker 1: Supply, having forty nine days. 134 00:05:31,160 --> 00:05:33,599 Speaker 2: Yes, yes, But having said all of that, I'm wanting 135 00:05:33,640 --> 00:05:37,400 Speaker 2: our system to think about, Okay, that's great, but you know, 136 00:05:37,560 --> 00:05:39,680 Speaker 2: you said, go surely is there going to be a 137 00:05:39,720 --> 00:05:42,080 Speaker 2: shortage of crud at some point coming through that straight 138 00:05:42,080 --> 00:05:43,760 Speaker 2: because even if it comes through and it flows through 139 00:05:43,760 --> 00:05:46,320 Speaker 2: it's released tomorrow, there must be some lag effect in 140 00:05:46,360 --> 00:05:49,680 Speaker 2: the system. And so now now those refineries in South 141 00:05:49,720 --> 00:05:52,159 Speaker 2: Korea and Singapore, we're doing everything they can to actually 142 00:05:52,160 --> 00:05:54,880 Speaker 2: secure a supply out of the US. There's a couple 143 00:05:54,880 --> 00:05:57,000 Speaker 2: of other sources that they can go to around the 144 00:05:57,000 --> 00:06:00,279 Speaker 2: world that they're Russian, in ira Russian, but don't know, 145 00:06:00,839 --> 00:06:02,359 Speaker 2: we won't be going there. We don't find that well, 146 00:06:02,600 --> 00:06:04,200 Speaker 2: well we might, we don't need to go there at 147 00:06:04,200 --> 00:06:06,279 Speaker 2: this point in time. The refineries they will make the 148 00:06:06,320 --> 00:06:08,160 Speaker 2: causes to where they can get their sources. But there's 149 00:06:08,200 --> 00:06:10,719 Speaker 2: even reading about a source out of the UAE that 150 00:06:10,880 --> 00:06:12,720 Speaker 2: actually they can seem to get some oil out of 151 00:06:12,720 --> 00:06:15,360 Speaker 2: there too. But that's what we're monitoring. That's what we're 152 00:06:15,400 --> 00:06:17,520 Speaker 2: really interested in, is that we have to start to 153 00:06:17,560 --> 00:06:21,080 Speaker 2: think about future scenarios where we hope none of that happens, 154 00:06:21,120 --> 00:06:22,039 Speaker 2: but we have to plan for that. 155 00:06:22,320 --> 00:06:24,960 Speaker 1: Okay, what what are you looking at the moment in 156 00:06:25,040 --> 00:06:28,920 Speaker 1: terms of help? Is it time or is it a 157 00:06:28,960 --> 00:06:33,000 Speaker 1: dollar amount? In terms of the LEA, what what triggers it? Yeah? 158 00:06:33,040 --> 00:06:36,240 Speaker 2: So I think there's a series of So first and 159 00:06:36,279 --> 00:06:38,440 Speaker 2: foremost as to the two issues to manage, one is 160 00:06:38,440 --> 00:06:40,600 Speaker 2: the supply, because if we don't manage the supply, that 161 00:06:40,640 --> 00:06:43,920 Speaker 2: will be the biggest single jobs. Few fine for now, 162 00:06:44,080 --> 00:06:45,880 Speaker 2: but we have to think about scenarios where we may 163 00:06:45,960 --> 00:06:48,120 Speaker 2: or may not have the fuel that we want and therefore. 164 00:06:47,880 --> 00:06:48,880 Speaker 1: That would be rationing. 165 00:06:49,040 --> 00:06:50,599 Speaker 2: That would be the steps that we would work our 166 00:06:50,640 --> 00:06:52,320 Speaker 2: way through our nationally worry about that. 167 00:06:52,560 --> 00:06:57,640 Speaker 1: That's the actual dollar help that's coming. What's the trigger? 168 00:06:57,720 --> 00:06:59,520 Speaker 2: Well, what we're thinking about I want to go to 169 00:06:59,600 --> 00:07:01,359 Speaker 2: the detail, but what we're trying to think about is 170 00:07:01,360 --> 00:07:04,800 Speaker 2: that we cannot make the mistakes we made before with COVID, 171 00:07:04,839 --> 00:07:07,760 Speaker 2: which was economically irresponsible. We end up spraying cash all 172 00:07:07,760 --> 00:07:10,200 Speaker 2: over the place, lots of short term gain, massive long 173 00:07:10,320 --> 00:07:13,200 Speaker 2: term pain. So we've got to be responsible economic managers 174 00:07:13,200 --> 00:07:15,120 Speaker 2: of that. Having said that, we have to make sure 175 00:07:15,160 --> 00:07:17,480 Speaker 2: that any support we do do is targeted and temporary. 176 00:07:17,760 --> 00:07:20,480 Speaker 2: I think we have to focus it on working people. Ideally, 177 00:07:20,480 --> 00:07:22,720 Speaker 2: you want to use existing mechanisms to get that cash 178 00:07:22,760 --> 00:07:23,720 Speaker 2: to people if you can. 179 00:07:24,000 --> 00:07:25,840 Speaker 1: Is that working for families? Well, it could be, it 180 00:07:25,920 --> 00:07:26,560 Speaker 1: could be tach this. 181 00:07:26,640 --> 00:07:30,160 Speaker 2: We've got tex and other dispersal mechanisms that we can 182 00:07:30,240 --> 00:07:32,080 Speaker 2: use to get funds to people. But we need to 183 00:07:32,080 --> 00:07:33,560 Speaker 2: think through whether we can use some of that or not, 184 00:07:33,600 --> 00:07:35,800 Speaker 2: because it's the most efficient way of doing it. But 185 00:07:35,800 --> 00:07:38,080 Speaker 2: then it has to be economically responsible because if we're 186 00:07:38,080 --> 00:07:40,040 Speaker 2: going to go out and borrow a whole bunch more money, 187 00:07:40,600 --> 00:07:42,960 Speaker 2: if we're going to go out and actually spend, that's 188 00:07:43,000 --> 00:07:45,520 Speaker 2: going to have huge implications, as you saw with the 189 00:07:45,520 --> 00:07:46,920 Speaker 2: fit downgrade on the way. 190 00:07:46,960 --> 00:07:48,120 Speaker 1: I get it, but I just want to know what's 191 00:07:48,160 --> 00:07:50,320 Speaker 1: the trigger? Is it three seventy year later? I mean, 192 00:07:50,360 --> 00:07:51,960 Speaker 1: something's got to start at all. 193 00:07:51,640 --> 00:07:52,920 Speaker 2: We've already started thinking about it. 194 00:07:52,960 --> 00:07:54,400 Speaker 1: We'll have stuff to say about it, sure, but is 195 00:07:54,440 --> 00:07:56,760 Speaker 1: it the price well, or is it the number of 196 00:07:56,800 --> 00:07:58,600 Speaker 1: weeks we go At this level. 197 00:07:58,360 --> 00:08:01,200 Speaker 2: It's just recognizing there are massive pressures in the rural community, 198 00:08:01,240 --> 00:08:03,800 Speaker 2: particularly around diesel. That's our critical fuel. But that's happening 199 00:08:03,880 --> 00:08:05,720 Speaker 2: right now, that's happening right. You need another week before 200 00:08:05,720 --> 00:08:07,200 Speaker 2: you know, No, we don't. We need to able to 201 00:08:07,200 --> 00:08:09,080 Speaker 2: get more dollars. We're going to need to get people time. 202 00:08:09,120 --> 00:08:11,080 Speaker 2: It's going to get to get people support quickly. 203 00:08:11,200 --> 00:08:15,320 Speaker 1: Okay, Lawrence Wong, so you have dinner at your house 204 00:08:15,400 --> 00:08:18,320 Speaker 1: and he's now your mate. Do you think that that 205 00:08:18,440 --> 00:08:21,720 Speaker 1: level of engagement may well help you? Yeah? I do, 206 00:08:21,880 --> 00:08:22,400 Speaker 1: I really do. 207 00:08:22,560 --> 00:08:24,720 Speaker 2: I mean, I'm hoping to talk to Lawrence again tonight 208 00:08:24,760 --> 00:08:28,400 Speaker 2: as well, and make sure you to visit there in 209 00:08:28,640 --> 00:08:30,920 Speaker 2: early May. I think it is as well. And we 210 00:08:30,960 --> 00:08:34,319 Speaker 2: want to sign this Essential Supplies Agreement. We've already got 211 00:08:34,320 --> 00:08:36,559 Speaker 2: that in place, which means that you know they'll provide 212 00:08:36,640 --> 00:08:39,240 Speaker 2: us with food and pharmaceuticals in a crisis fuel. 213 00:08:39,800 --> 00:08:41,880 Speaker 1: You want to ask him basically, is if it all 214 00:08:41,920 --> 00:08:44,400 Speaker 1: starts to hit the fan, could you lean on him 215 00:08:44,440 --> 00:08:47,559 Speaker 1: because of the relationship or engagement. That's what those were. 216 00:08:47,600 --> 00:08:49,679 Speaker 2: Therefore, That's how I've always thought about the job, is 217 00:08:49,720 --> 00:08:51,240 Speaker 2: that the one thing I have to do is make 218 00:08:51,280 --> 00:08:54,319 Speaker 2: sure I build good rapport with different leaders with different personalities. 219 00:08:54,960 --> 00:08:57,360 Speaker 2: I'll be talking hopefully to the South Korean president shortly 220 00:08:57,400 --> 00:09:01,000 Speaker 2: as well, and I've met with him several times. But 221 00:09:01,120 --> 00:09:02,640 Speaker 2: you do want to have rapport, you do want to 222 00:09:02,640 --> 00:09:04,760 Speaker 2: have relationships so when you hit problems like this that 223 00:09:04,800 --> 00:09:07,480 Speaker 2: you can actually make sure you've done everything you possibly 224 00:09:07,520 --> 00:09:10,440 Speaker 2: can at a relational level but at a practical level 225 00:09:10,480 --> 00:09:12,520 Speaker 2: to make sure that we're advancing our interests and so 226 00:09:12,840 --> 00:09:14,720 Speaker 2: those matters. That's how those relationships do matter. 227 00:09:14,760 --> 00:09:16,960 Speaker 1: A quick word on Winston and the splitting of the 228 00:09:16,960 --> 00:09:19,680 Speaker 1: gen tables. How far apart are you all that? 229 00:09:19,920 --> 00:09:23,439 Speaker 2: Well, I mean, he'll have his own policies, as you'll get. 230 00:09:23,520 --> 00:09:25,440 Speaker 1: But you were world away from splitting gen tails. 231 00:09:25,800 --> 00:09:27,440 Speaker 2: It's not something we wore up for because I think 232 00:09:27,440 --> 00:09:30,000 Speaker 2: it's too lighted. Well, we're just not going to. 233 00:09:30,000 --> 00:09:32,360 Speaker 1: Do it because you've jaw boned a lot on supermarkets, 234 00:09:32,400 --> 00:09:33,960 Speaker 1: a lot on banks, and a lot on the power. 235 00:09:34,240 --> 00:09:36,400 Speaker 2: But I just think in this case it causes massive 236 00:09:36,480 --> 00:09:39,240 Speaker 2: uncertainty in a sector where that needs stability and certainty. 237 00:09:39,520 --> 00:09:42,760 Speaker 2: It's massively disruptive if you did something like that. And secondly, 238 00:09:42,760 --> 00:09:45,920 Speaker 2: our focus is on actually just expanding de risking it 239 00:09:45,960 --> 00:09:48,280 Speaker 2: by making sure we've got firming capacity in place, which 240 00:09:48,360 --> 00:09:50,319 Speaker 2: is what we've been working hard at. And the second 241 00:09:50,360 --> 00:09:52,719 Speaker 2: bit is might there is a massive renewable spoom going 242 00:09:52,760 --> 00:09:54,680 Speaker 2: on in the country. I mean, you know, the last 243 00:09:54,679 --> 00:09:58,440 Speaker 2: government rejected a proposal down in South Online that actually 244 00:09:58,880 --> 00:10:00,920 Speaker 2: powered up one hundred thousand homes. We've got that through 245 00:10:00,920 --> 00:10:03,520 Speaker 2: fast track. I mean, that's brilliant. So there's a massive, 246 00:10:03,679 --> 00:10:06,600 Speaker 2: you know, a massive, massive boom of renewables going on. 247 00:10:06,640 --> 00:10:09,600 Speaker 2: So it's sooner for stability secure you know, reasons not 248 00:10:09,720 --> 00:10:12,280 Speaker 2: to do something disruptive like that, and too, we've got 249 00:10:12,320 --> 00:10:13,280 Speaker 2: a lot of altruesty coming. 250 00:10:13,600 --> 00:10:15,280 Speaker 1: Is I think the war is going to be over 251 00:10:15,320 --> 00:10:19,000 Speaker 1: within three weeks, does it? Is it already affecting your 252 00:10:19,000 --> 00:10:22,360 Speaker 1: budget and you're thinking, yeah, twenty eight it will have 253 00:10:22,480 --> 00:10:24,360 Speaker 1: to we'll have to adjust to it because you're thinking 254 00:10:24,400 --> 00:10:25,440 Speaker 1: about it already right now. 255 00:10:25,520 --> 00:10:27,120 Speaker 2: Well, we're starting to think. We understand there'll be a 256 00:10:27,120 --> 00:10:29,880 Speaker 2: massive there will be significant financial impacts. We are going 257 00:10:29,880 --> 00:10:31,560 Speaker 2: into this better than we were two years ago. 258 00:10:32,000 --> 00:10:32,480 Speaker 1: You would have. 259 00:10:32,440 --> 00:10:35,840 Speaker 2: Seen even the week before the Iran conflict kicked off, 260 00:10:35,960 --> 00:10:38,840 Speaker 2: our preliminary forecasts had us performing much better than we 261 00:10:38,840 --> 00:10:41,800 Speaker 2: were even three months ago. But there's no doubt about it. 262 00:10:41,840 --> 00:10:44,920 Speaker 2: This will have, you know, certainly an impact across our 263 00:10:44,960 --> 00:10:49,240 Speaker 2: economic management. But that's why we need in times of volatility, 264 00:10:49,280 --> 00:10:51,760 Speaker 2: you need really solid economic management because when you lose 265 00:10:51,800 --> 00:10:55,120 Speaker 2: formation as we did through COVID and we're now dealing 266 00:10:55,120 --> 00:10:57,720 Speaker 2: with all those consequences, we have to find the balance 267 00:10:57,880 --> 00:11:00,439 Speaker 2: through all that, all right, No, See CHRISA. 268 00:11:00,440 --> 00:11:03,960 Speaker 1: Blexen for more from The Mic Asking Breakfast. Listen live 269 00:11:04,040 --> 00:11:06,960 Speaker 1: to News Talks at B from six am weekdays, or 270 00:11:07,040 --> 00:11:08,920 Speaker 1: follow the podcast on iHeartRadio.