1 00:00:01,960 --> 00:00:06,920 Speaker 1: The issues these and the inside Ryan Bridge on early 2 00:00:07,080 --> 00:00:11,560 Speaker 1: edition with one roof make your Property search simple, used 3 00:00:11,600 --> 00:00:12,119 Speaker 1: Talks B. 4 00:00:12,600 --> 00:00:14,720 Speaker 2: Good morning, It has just gone six after five News 5 00:00:14,760 --> 00:00:17,360 Speaker 2: Talks D B. The OCI. Yes, we bought the car, 6 00:00:17,480 --> 00:00:20,919 Speaker 2: but how certain are we about further cups after this one? 7 00:00:20,920 --> 00:00:23,920 Speaker 2: We'll speak to an economist just before six o'clock. Elon 8 00:00:24,040 --> 00:00:27,640 Speaker 2: Musk doesn't really like Trump's big beautiful bill. We'll tell 9 00:00:27,680 --> 00:00:32,080 Speaker 2: you why. Over in Berlin, Merch is getting quite involved 10 00:00:32,159 --> 00:00:34,640 Speaker 2: with the Ukraine war. He's done a deal with Zelensky 11 00:00:34,680 --> 00:00:39,159 Speaker 2: on missiles. We've got details. Mitch mccannon's stateside International students 12 00:00:39,159 --> 00:00:42,919 Speaker 2: here still down forty percent on pre COVID. The ministers 13 00:00:42,960 --> 00:00:47,400 Speaker 2: on to explain why, and a new supermarket fix that 14 00:00:47,600 --> 00:00:50,040 Speaker 2: doesn't involve breaking up businesses. 15 00:00:51,920 --> 00:00:53,080 Speaker 1: The agenda. 16 00:00:54,120 --> 00:00:57,360 Speaker 2: In Berlin, Frederick Murgs and Vilensky did that deal helping 17 00:00:57,520 --> 00:01:01,240 Speaker 2: Kiev produce long range missiles to defend itself from Russian attack. 18 00:01:01,960 --> 00:01:06,600 Speaker 3: We will further increase pressure on Russia in order to 19 00:01:06,680 --> 00:01:10,839 Speaker 3: weaken the war machinery in Moscow, but we will also 20 00:01:10,880 --> 00:01:14,080 Speaker 3: do it in order to open up paths towards negotiation. 21 00:01:14,640 --> 00:01:18,880 Speaker 2: Ober in France, this former French surgeon who sexually abused patients. 22 00:01:18,920 --> 00:01:22,880 Speaker 2: He gets twenty years. The trial spark outraged it was 23 00:01:22,959 --> 00:01:27,039 Speaker 2: revealed during proceedings he was allowed to continue to treat 24 00:01:27,200 --> 00:01:30,399 Speaker 2: children despite a conviction in two thousand and five for 25 00:01:30,440 --> 00:01:34,440 Speaker 2: downloading pedophile images. I saw no sincerity from him. I 26 00:01:34,520 --> 00:01:37,400 Speaker 2: just hope he cannot hurt people anymore, but I don't 27 00:01:37,440 --> 00:01:40,240 Speaker 2: expect him to change. On government and our society are 28 00:01:40,240 --> 00:01:41,040 Speaker 2: not outraged. 29 00:01:41,400 --> 00:01:44,520 Speaker 3: The rape of children seems too complicated to acknowledge. 30 00:01:45,040 --> 00:01:45,880 Speaker 2: Spros the Knights. 31 00:01:45,959 --> 00:01:46,679 Speaker 4: This exists. 32 00:01:47,160 --> 00:01:49,640 Speaker 2: Trump's big beautiful bill is too big for Elon Musk. 33 00:01:50,000 --> 00:01:55,160 Speaker 5: Big beautiful bill, you know, I was like disappointed to 34 00:01:55,240 --> 00:02:01,360 Speaker 5: see the massive spending bill. Frankly, Press the bunch steps 35 00:02:01,360 --> 00:02:04,080 Speaker 5: that not. This decrease it and it reminds the work 36 00:02:04,080 --> 00:02:06,280 Speaker 5: that the Doge team is doing. I think a book 37 00:02:06,320 --> 00:02:08,840 Speaker 5: can be can be big or it can be beautiful. 38 00:02:10,040 --> 00:02:11,240 Speaker 5: I don't know if it could be both. 39 00:02:12,280 --> 00:02:15,800 Speaker 2: He also remember he was going to shave billions off 40 00:02:16,480 --> 00:02:18,680 Speaker 2: the government budget with Doge and ended up only being 41 00:02:18,720 --> 00:02:21,480 Speaker 2: a couple one hundred million. Anyway, he's not happy with that. 42 00:02:22,840 --> 00:02:27,200 Speaker 1: On your radio and online on iHeartRadio Early edition with 43 00:02:27,440 --> 00:02:31,360 Speaker 1: Ryan Bridge and One Roof make your property search simple. 44 00:02:31,639 --> 00:02:34,799 Speaker 2: If you talk said, be nine two the number to text. 45 00:02:34,800 --> 00:02:36,560 Speaker 2: We'd love to hear from you this morning. So Luxon 46 00:02:36,600 --> 00:02:39,560 Speaker 2: comes out yesterday, big smile on his face. Nicolas there 47 00:02:39,720 --> 00:02:41,400 Speaker 2: with a nice dress on. We're not meant to talk 48 00:02:41,400 --> 00:02:44,760 Speaker 2: about her dress, but who really cares, and so he should. 49 00:02:45,560 --> 00:02:48,639 Speaker 2: He's in government. Interest rates have come down two hundred 50 00:02:48,639 --> 00:02:51,040 Speaker 2: and twenty five basis points since the peak last year. 51 00:02:51,280 --> 00:02:54,280 Speaker 2: We're now sitting on three point two five, so close 52 00:02:54,360 --> 00:02:57,359 Speaker 2: to neutral. In fact, we're so close to neutral now 53 00:02:57,400 --> 00:02:59,800 Speaker 2: the Bank says they're not really using that term anymore. 54 00:02:59,800 --> 00:03:02,200 Speaker 2: It's almost obsolete. They don't like it. They're going to 55 00:03:02,320 --> 00:03:06,760 Speaker 2: quote feel their way. At this point, they're promising a 56 00:03:06,760 --> 00:03:09,240 Speaker 2: further cut. In fact, their low point is now two 57 00:03:09,280 --> 00:03:11,760 Speaker 2: point nine percent rather than three point one, which it 58 00:03:11,880 --> 00:03:14,480 Speaker 2: was under or So this is all great news if 59 00:03:14,520 --> 00:03:19,160 Speaker 2: you're in a government. It is way more significant for us, 60 00:03:19,520 --> 00:03:22,320 Speaker 2: way more significant for your average punter than any budget 61 00:03:22,320 --> 00:03:26,520 Speaker 2: would be. They reckon that since the peak. If you've 62 00:03:26,520 --> 00:03:30,120 Speaker 2: got a five hundred thousand dollars mortgage, your fortnightly repayments 63 00:03:30,280 --> 00:03:32,720 Speaker 2: will be cut by three hundred dollars, so you'll have 64 00:03:32,720 --> 00:03:34,960 Speaker 2: an extra three hundred dollars a fortnight in your back pocket. 65 00:03:35,040 --> 00:03:37,640 Speaker 2: Didn't get that from the budget, did you? This is 66 00:03:37,680 --> 00:03:41,800 Speaker 2: the power of monetary policy. Close to half of all 67 00:03:41,840 --> 00:03:44,200 Speaker 2: mortgage holders are due to fix their loans from June, 68 00:03:44,280 --> 00:03:48,680 Speaker 2: that is half a million mortgages. Now there is an 69 00:03:48,720 --> 00:03:53,520 Speaker 2: economic argument going on here. Can Luxon claim victory for this? 70 00:03:53,600 --> 00:03:56,400 Speaker 2: Does he go into a victory parade, which is basically 71 00:03:56,400 --> 00:04:00,680 Speaker 2: what he did yesterday with Nikola. Here's what Hawksby's the governor. 72 00:04:00,800 --> 00:04:03,600 Speaker 2: Hawksby had to say when asked about the impact of 73 00:04:03,640 --> 00:04:06,600 Speaker 2: the budget on their decision yesterday. Have a listen. 74 00:04:07,080 --> 00:04:12,800 Speaker 6: We were delighted that the government announced its budget before 75 00:04:12,840 --> 00:04:15,160 Speaker 6: we met as a Monetary Policy Committee, and that meant 76 00:04:15,200 --> 00:04:18,159 Speaker 6: that we had all that information in front of us 77 00:04:18,200 --> 00:04:21,599 Speaker 6: and we could take that as given. It had a 78 00:04:21,720 --> 00:04:25,000 Speaker 6: very little role to play in terms of the decision 79 00:04:25,040 --> 00:04:29,560 Speaker 6: we made today relative to previously. There were unders and 80 00:04:29,600 --> 00:04:32,480 Speaker 6: overs in terms of the impact of the budget. The 81 00:04:32,520 --> 00:04:37,120 Speaker 6: investment boost scheme providing some support to business investment and 82 00:04:37,160 --> 00:04:40,599 Speaker 6: that's factored into our projections. But on the other side, 83 00:04:40,640 --> 00:04:46,159 Speaker 6: some active decisions around reducing government expenditure. They effectively met out. 84 00:04:46,920 --> 00:04:50,480 Speaker 6: And it remains the same story that government spending as 85 00:04:50,520 --> 00:04:55,080 Speaker 6: a portion of potential output is looking to be falling 86 00:04:55,120 --> 00:04:56,679 Speaker 6: through our projection period. 87 00:04:57,160 --> 00:05:01,640 Speaker 2: So basically that was Christian hawksby Toss neutral and therefore 88 00:05:01,680 --> 00:05:04,560 Speaker 2: not really relevant to the decision making. But that is 89 00:05:04,640 --> 00:05:08,440 Speaker 2: not the same thing as saying it had no impact 90 00:05:08,440 --> 00:05:11,719 Speaker 2: at all. If the government was burrowing to the helt 91 00:05:12,120 --> 00:05:15,279 Speaker 2: and spending like a drunken sailor, it would have affected things. 92 00:05:15,960 --> 00:05:18,920 Speaker 2: So by not doing that and focusing on the quality 93 00:05:18,960 --> 00:05:21,760 Speaker 2: of the spending it has, in a perverse kind of way, 94 00:05:21,920 --> 00:05:26,360 Speaker 2: had an impact Bread even though Hawksbeak says it didn't. 95 00:05:26,560 --> 00:05:29,279 Speaker 2: I mean, I guess that the moral of the stories 96 00:05:29,279 --> 00:05:31,080 Speaker 2: it could have been a lot worse, and then it 97 00:05:31,080 --> 00:05:34,640 Speaker 2: would have changed the trajectory potentially. Right eleven minutes after 98 00:05:34,680 --> 00:05:36,520 Speaker 2: five year on News Talks, there b a lot to 99 00:05:36,520 --> 00:05:38,719 Speaker 2: talk about this morning. There's a new report from the 100 00:05:38,800 --> 00:05:42,920 Speaker 2: New Zealand Initiative which skirts around the issue of breaking 101 00:05:43,000 --> 00:05:47,520 Speaker 2: up supermarkets in order to fix the duopoly. And we're 102 00:05:47,560 --> 00:05:51,680 Speaker 2: talking also to Penny Simmons about these international students still 103 00:05:51,839 --> 00:05:54,279 Speaker 2: forty percent down on pre COVID. We'll ask why. 104 00:05:55,120 --> 00:05:58,560 Speaker 1: Bryan Bridge on affill the edition, where's one roof make 105 00:05:58,680 --> 00:06:00,400 Speaker 1: your property search simple? 106 00:06:00,640 --> 00:06:03,360 Speaker 2: News Dog zibby news Dog Zibi. It's just gone fourteen 107 00:06:03,400 --> 00:06:06,280 Speaker 2: after five our foreign student numbers are down. Ministry of 108 00:06:06,400 --> 00:06:09,719 Speaker 2: Education shows there was a forty percent decrease from the 109 00:06:09,720 --> 00:06:14,760 Speaker 2: peak in twenty sixteen. Universities rebounding post COVID, but secondary 110 00:06:14,760 --> 00:06:18,680 Speaker 2: schools and vocational training are lagging. Penny Simmons is the 111 00:06:18,760 --> 00:06:21,479 Speaker 2: Vocational education minister with me this morning. Minister, Good morning, 112 00:06:22,160 --> 00:06:26,000 Speaker 2: good morning Ryan. Why are we down forty percent? Still? 113 00:06:26,560 --> 00:06:32,919 Speaker 7: Tapooking? Tapooking has centralized everything they did, all the marketing centrally. 114 00:06:33,120 --> 00:06:38,599 Speaker 7: Nobody knew what tapooking was overseas. They required everything to 115 00:06:38,640 --> 00:06:41,640 Speaker 7: be the same, so whether you were offering courses an 116 00:06:41,680 --> 00:06:44,680 Speaker 7: in Vcago or Auckland, you had to have the same price. 117 00:06:45,160 --> 00:06:48,440 Speaker 7: So Auckland numbers have come back a little quicker, but 118 00:06:48,560 --> 00:06:52,239 Speaker 7: certainly the regions they just haven't come back at all. 119 00:06:53,000 --> 00:06:56,080 Speaker 7: You couldn't do anything innovative or different. You couldn't do 120 00:06:56,200 --> 00:06:59,560 Speaker 7: things like having free English for spouse so that they 121 00:06:59,600 --> 00:07:04,840 Speaker 7: integrate into community. So it just killed off any innovation, 122 00:07:05,160 --> 00:07:08,719 Speaker 7: anything that was done in the regions to particularly attract 123 00:07:08,760 --> 00:07:09,880 Speaker 7: international students. 124 00:07:09,960 --> 00:07:11,840 Speaker 2: So you're saying the first thing you said was that 125 00:07:11,880 --> 00:07:14,560 Speaker 2: they were advertising as tapooking and no one knew what 126 00:07:14,600 --> 00:07:16,920 Speaker 2: it was. Do you mean that they didn't go out 127 00:07:16,960 --> 00:07:19,840 Speaker 2: to the international market and say this is New Zealand. 128 00:07:21,360 --> 00:07:23,840 Speaker 7: Well they said New Zealand, but they didn't say what 129 00:07:24,000 --> 00:07:28,160 Speaker 7: the institutions were. So you couldn't go out and market 130 00:07:28,280 --> 00:07:34,760 Speaker 7: yourself as Nelson Polytechnic, an MIT or Otago Polytechnique. You 131 00:07:34,920 --> 00:07:38,840 Speaker 7: had to be Tapooking and the new branch of. 132 00:07:39,080 --> 00:07:42,880 Speaker 2: Is that important because international students would be going and 133 00:07:42,920 --> 00:07:45,640 Speaker 2: researching those places and saying, oh, this looks good and 134 00:07:45,880 --> 00:07:46,960 Speaker 2: I can trust that one. 135 00:07:48,040 --> 00:07:51,680 Speaker 7: Yes. And also they knew the name polytechnic. They know 136 00:07:51,800 --> 00:07:54,480 Speaker 7: what a polytechnic is, they know what an institute of 137 00:07:54,520 --> 00:07:57,239 Speaker 7: technology is. They certainly didn't know what a two people 138 00:07:57,440 --> 00:08:02,440 Speaker 7: what a shambos. Same thing happened in Queensland when they 139 00:08:02,840 --> 00:08:06,640 Speaker 7: are centralized all their tapes Exactly the same thing happened. 140 00:08:06,760 --> 00:08:08,800 Speaker 2: So why what are we a year and a half 141 00:08:08,920 --> 00:08:12,040 Speaker 2: in What what are we currently marketing ourselves as. 142 00:08:13,040 --> 00:08:17,040 Speaker 7: They are starting to be able to market themselves individually, 143 00:08:17,320 --> 00:08:19,080 Speaker 7: but it's only just started. 144 00:08:19,480 --> 00:08:21,840 Speaker 2: Well, what's taken you so long? I mean, fair enough, 145 00:08:21,960 --> 00:08:24,880 Speaker 2: they bug it it up, But what's taking you so long? 146 00:08:25,560 --> 00:08:28,840 Speaker 7: Well, we've got the legislation going through the House now 147 00:08:29,400 --> 00:08:32,960 Speaker 7: to disestablish tape pooking here. But while take pooking is there, 148 00:08:33,160 --> 00:08:37,840 Speaker 7: I can't instruct them to do anything. Why not because 149 00:08:38,000 --> 00:08:41,000 Speaker 7: they had their own entity. I don't have the well. 150 00:08:41,640 --> 00:08:43,960 Speaker 2: Rip them up, push them as. 151 00:08:44,280 --> 00:08:46,400 Speaker 7: That's exactly what we're doing now, how can. 152 00:08:46,280 --> 00:08:48,360 Speaker 2: It take I think, look, if this is this is 153 00:08:48,440 --> 00:08:52,680 Speaker 2: a serious issue on twenty seven, this is worth billions 154 00:08:52,720 --> 00:08:55,840 Speaker 2: of dollars. We're forty percent down on pre COVID. You've 155 00:08:55,880 --> 00:08:58,880 Speaker 2: got an institution that's been created by a previous government 156 00:08:58,920 --> 00:09:01,439 Speaker 2: you've got no control over, and it takes you a 157 00:09:01,600 --> 00:09:03,880 Speaker 2: year and a half to even dismantle it. 158 00:09:04,640 --> 00:09:08,080 Speaker 7: Yes, it does because the legislation takes a long time 159 00:09:08,160 --> 00:09:10,960 Speaker 7: to get risen. It's a really complex bit of legislation. 160 00:09:11,120 --> 00:09:14,360 Speaker 7: But also because the finances are such a mess, and 161 00:09:14,480 --> 00:09:18,280 Speaker 7: so we're having to go through and unpick all the 162 00:09:18,400 --> 00:09:22,480 Speaker 7: financial difficulties. There are some that went in in debt, 163 00:09:22,640 --> 00:09:26,800 Speaker 7: some went in with reserves, all that got amalgamated. So yeah, 164 00:09:26,880 --> 00:09:29,520 Speaker 7: it's been a nightmare that we're unpicking it. It will 165 00:09:29,640 --> 00:09:32,360 Speaker 7: be undone by one January next year. 166 00:09:32,480 --> 00:09:35,319 Speaker 2: One January we will have be free of tapooking. It 167 00:09:35,840 --> 00:09:39,959 Speaker 2: and then when and from then universe polytechs can start 168 00:09:40,440 --> 00:09:42,120 Speaker 2: advertising themselves as who they are. 169 00:09:43,040 --> 00:09:47,040 Speaker 7: They are starting to now they've got the message to 170 00:09:47,160 --> 00:09:49,760 Speaker 7: Pooking has got the message. They're starting to, but they've 171 00:09:49,920 --> 00:09:52,839 Speaker 7: only just been allowed to charge their own fees and 172 00:09:53,080 --> 00:09:54,680 Speaker 7: that's been a big barrier. 173 00:09:54,920 --> 00:09:59,040 Speaker 2: Any what is your target date for getting this number 174 00:09:59,440 --> 00:10:00,720 Speaker 2: back to pre COVID. 175 00:10:01,840 --> 00:10:06,559 Speaker 7: I think it'll take two years from when we get disestablished. 176 00:10:06,679 --> 00:10:09,000 Speaker 7: King had disestablished, so I think. 177 00:10:08,920 --> 00:10:12,080 Speaker 2: It will be come out of years. Eight January twenty 178 00:10:12,120 --> 00:10:14,000 Speaker 2: twenty eight. We'll have a conversation. 179 00:10:13,640 --> 00:10:16,520 Speaker 7: Penny, please do I look forward to it. 180 00:10:16,679 --> 00:10:18,640 Speaker 2: Good to have you on the show, Penny Simmons. Who's 181 00:10:18,720 --> 00:10:22,040 Speaker 2: the Minister for Vocational and Education? It is eighteen after 182 00:10:22,080 --> 00:10:23,599 Speaker 2: five year. On news talks, there'd b we'll get to 183 00:10:23,640 --> 00:10:27,599 Speaker 2: Mitch McCanns Stateside shortly and supermarkets the new plan that 184 00:10:27,760 --> 00:10:34,079 Speaker 2: doesn't involve dismantling the duopoly. That's next, The news you 185 00:10:34,200 --> 00:10:34,560 Speaker 2: need this. 186 00:10:34,679 --> 00:10:38,200 Speaker 1: Morning and the in depth analysis early edition with Ryan 187 00:10:38,320 --> 00:10:41,840 Speaker 1: Bridge and One Room Make your Property search Simple. 188 00:10:42,080 --> 00:10:44,680 Speaker 2: News talks they'd be I'll get you some details shortly 189 00:10:44,760 --> 00:10:48,559 Speaker 2: on the Berlin meeting between Zelensky and Mertz it's quite 190 00:10:48,600 --> 00:10:52,400 Speaker 2: interesting what they're doing over in America. Marco Rubio's put 191 00:10:52,400 --> 00:10:56,200 Speaker 2: out a tweet. He's announcing new visa restrictions for foreigners 192 00:10:56,240 --> 00:10:59,760 Speaker 2: who are quote complicit in censoring Americans. So if you 193 00:11:00,040 --> 00:11:03,439 Speaker 2: work for a government around the world, look out, it 194 00:11:03,520 --> 00:11:06,640 Speaker 2: could be coming your way. Foreign officials, it says, and 195 00:11:06,880 --> 00:11:11,319 Speaker 2: persons who are complicit and censoring Americans. They Americans have 196 00:11:11,400 --> 00:11:14,640 Speaker 2: been fined, harassed, and even charged by foreign authorities for 197 00:11:14,760 --> 00:11:18,880 Speaker 2: exercising their free speech rights, and foreigners who undermine those 198 00:11:19,040 --> 00:11:23,000 Speaker 2: rights should not enjoy the privileges of traveling to our country, 199 00:11:23,440 --> 00:11:28,040 Speaker 2: says Marco Rubio this morning. He have previously targeted the 200 00:11:28,160 --> 00:11:31,679 Speaker 2: European Digital Services Act, which we've spoken about before. It's 201 00:11:31,679 --> 00:11:34,160 Speaker 2: aimed at preventing disinformation. Remember we were going to have 202 00:11:34,240 --> 00:11:37,199 Speaker 2: one of these. And so the question is should you 203 00:11:37,280 --> 00:11:39,360 Speaker 2: be able to spread lies on the Internet? And I 204 00:11:39,520 --> 00:11:41,480 Speaker 2: think yes you should because you can run down the 205 00:11:41,520 --> 00:11:43,760 Speaker 2: street and lie a liar to your pants are on fire, 206 00:11:44,240 --> 00:11:46,200 Speaker 2: and that's totally legal. So why shouldn't you be able 207 00:11:46,200 --> 00:11:47,840 Speaker 2: to do it online? We just need to be smarter 208 00:11:47,960 --> 00:11:51,880 Speaker 2: about who and what we trust. Twenty one after five, 209 00:11:53,040 --> 00:11:55,000 Speaker 2: Andy Gillan's Initiative have come up with a plan to 210 00:11:55,080 --> 00:11:57,880 Speaker 2: bring competition to the grocery sector. They've drafted up a 211 00:11:57,920 --> 00:11:59,880 Speaker 2: bill for the government. Here you go on a platter. 212 00:12:00,520 --> 00:12:03,920 Speaker 2: They say that consense and rezoning processes need to be 213 00:12:04,000 --> 00:12:06,760 Speaker 2: streamlined with a pathway opened up for a third retailer. 214 00:12:06,880 --> 00:12:09,360 Speaker 2: So Chetwin's the Grocery Action Group with us this morning. 215 00:12:09,440 --> 00:12:12,480 Speaker 2: So good morning, good morning. What do you make of this. 216 00:12:12,600 --> 00:12:15,080 Speaker 2: There's no need to bash the heads of these stuopolies. 217 00:12:15,160 --> 00:12:17,280 Speaker 2: You just actually get government out of the way. 218 00:12:19,400 --> 00:12:22,400 Speaker 8: Look, I think that this would be nice to have, 219 00:12:23,240 --> 00:12:26,439 Speaker 8: but you have to recognize that this report would have 220 00:12:26,480 --> 00:12:32,480 Speaker 8: been put out with the financial support of Willworth food 221 00:12:32,640 --> 00:12:38,040 Speaker 8: Stuff and Fonterra, who are really big supporters probably of 222 00:12:38,200 --> 00:12:43,600 Speaker 8: the status quo. So what our problem in New Zealand 223 00:12:43,760 --> 00:12:47,319 Speaker 8: is is not that we don't have enough land. We 224 00:12:47,480 --> 00:12:53,120 Speaker 8: have enough supermarkets, but what we have is too few operators. 225 00:12:53,240 --> 00:12:56,880 Speaker 8: We have too few competitors. And what this government has 226 00:12:57,000 --> 00:13:01,520 Speaker 8: seen is that we can't get competitor because we're paying 227 00:13:02,040 --> 00:13:04,280 Speaker 8: the highest price to some of the highest prices in 228 00:13:04,840 --> 00:13:08,000 Speaker 8: the world because we have a lack of competition. What 229 00:13:08,280 --> 00:13:12,319 Speaker 8: we need is more competitors and to get more competitors. 230 00:13:12,440 --> 00:13:14,160 Speaker 7: They probably have to look at. 231 00:13:14,840 --> 00:13:19,240 Speaker 8: Forcing the existing the incumbents to actually divest some of 232 00:13:19,320 --> 00:13:22,199 Speaker 8: the stores that they have, because we have plenty of 233 00:13:22,280 --> 00:13:25,000 Speaker 8: super markets, we just don't have enough operators. 234 00:13:25,840 --> 00:13:30,560 Speaker 2: You said there's enough land. Whenever anyone tries to build anything, 235 00:13:31,280 --> 00:13:33,520 Speaker 2: there is opposition. There's I mean there's a labor MP 236 00:13:33,679 --> 00:13:35,959 Speaker 2: in christ Church is trying to stop a supermarket being built. 237 00:13:36,480 --> 00:13:39,800 Speaker 2: I interviewed the former managing director of Costco. He said 238 00:13:39,800 --> 00:13:43,160 Speaker 2: the biggest problem was zoning for land and bringing his 239 00:13:44,000 --> 00:13:46,320 Speaker 2: supermarket here. So there is a problem, there isn't there. 240 00:13:47,600 --> 00:13:49,839 Speaker 8: I think, as I said, I think this would be 241 00:13:50,080 --> 00:13:53,520 Speaker 8: a nice to have, But all the land that would 242 00:13:53,559 --> 00:13:57,960 Speaker 8: have been useful for supermarkets has in the past being 243 00:13:58,080 --> 00:14:02,560 Speaker 8: bought by will We've food staffs, food stuffs to stop 244 00:14:02,720 --> 00:14:08,600 Speaker 8: others competing, and the Commerce Commission has stopped that behavior. 245 00:14:09,120 --> 00:14:12,720 Speaker 7: They've yeah, so so that man. 246 00:14:12,880 --> 00:14:15,360 Speaker 2: Is now you think though, so you think this is 247 00:14:15,640 --> 00:14:19,760 Speaker 2: this report has actually just been bought by the big dogs. 248 00:14:20,880 --> 00:14:24,400 Speaker 8: Look, I think I think it has. It's to slow 249 00:14:24,560 --> 00:14:29,560 Speaker 8: down any activity because Nikola Willis has definitely said that 250 00:14:29,680 --> 00:14:34,200 Speaker 8: she's looking at this and divestment is on the table. 251 00:14:35,360 --> 00:14:38,880 Speaker 8: They want to stop that happening, because that would encourage 252 00:14:38,920 --> 00:14:42,880 Speaker 8: real competition. And even within this report they talk about, 253 00:14:43,040 --> 00:14:46,440 Speaker 8: you know, oh, freeing up land for twelve new players, 254 00:14:46,760 --> 00:14:51,160 Speaker 8: well twelve new are sorry, twelve twelve new stores. But 255 00:14:51,360 --> 00:14:53,440 Speaker 8: that's not going to cut the mustard. I mean, thirty 256 00:14:53,560 --> 00:14:56,800 Speaker 8: new stores wouldn't cut the mustard. Now we're talking about 257 00:14:56,920 --> 00:15:01,360 Speaker 8: allowing competition to come into this country at scale fast, 258 00:15:01,600 --> 00:15:03,560 Speaker 8: so that actually means divestment. 259 00:15:03,880 --> 00:15:06,440 Speaker 2: So appreciate your time responding, stead chetwin Grosser Reaction Group. 260 00:15:06,520 --> 00:15:09,600 Speaker 2: It is twenty five after five the early. 261 00:15:09,560 --> 00:15:13,600 Speaker 1: Edition full the Show podcast on iHeartRadio, how It By News. 262 00:15:13,520 --> 00:15:17,400 Speaker 2: Talks AB News Talks b twenty seven after five another 263 00:15:17,480 --> 00:15:20,680 Speaker 2: Reserve Bank rate cut. It was largely as expected, twenty 264 00:15:20,720 --> 00:15:23,680 Speaker 2: five basis points. The rest of the press conference and 265 00:15:23,840 --> 00:15:27,200 Speaker 2: much of the monetary policy statement that followed was focused 266 00:15:27,240 --> 00:15:32,160 Speaker 2: on the unpredictable global environment. We can't say this because 267 00:15:32,280 --> 00:15:34,160 Speaker 2: we don't know what Trump will do. We can't be 268 00:15:34,240 --> 00:15:37,440 Speaker 2: certain about that because Trump and the trade war, etc. 269 00:15:38,280 --> 00:15:43,840 Speaker 2: But at what point does unpredictability become predictable and therefore 270 00:15:44,080 --> 00:15:46,840 Speaker 2: not the great threat that we make it out to be. Yes, 271 00:15:47,120 --> 00:15:50,160 Speaker 2: Trump went nuts on Liberation Day. The sky fallon. He 272 00:15:50,320 --> 00:15:53,200 Speaker 2: then calls a ceasefire in May. The markets have recouped 273 00:15:53,200 --> 00:15:55,160 Speaker 2: all of their losses since then. The end of seas 274 00:15:55,160 --> 00:15:58,640 Speaker 2: are patchy, but largely back to where they were. Trade 275 00:15:58,680 --> 00:16:03,200 Speaker 2: talks are ongoing. The IMF yesterday upgraded Britain's growth. US 276 00:16:03,320 --> 00:16:06,840 Speaker 2: consumer confidence actually increased last month for the first time 277 00:16:06,920 --> 00:16:11,240 Speaker 2: in five China's industrial growth for April was positive yesterday. 278 00:16:11,880 --> 00:16:17,080 Speaker 2: Our agricultural experts are doing the business abroad. Trump rants 279 00:16:17,240 --> 00:16:21,280 Speaker 2: and raves on Twitter. He unannounces stuff as quickly as 280 00:16:21,320 --> 00:16:27,520 Speaker 2: he announces stuff. He's impulsive, he's emotionally reactive, vindictive. He's 281 00:16:27,560 --> 00:16:31,440 Speaker 2: a weather vein, the political equivalent of Katy Perry. Because 282 00:16:31,480 --> 00:16:35,560 Speaker 2: he's hot, then he's cold. He's in, then he's out. 283 00:16:36,240 --> 00:16:40,000 Speaker 2: He's up, then he's down. He's wrong when it's right, 284 00:16:40,440 --> 00:16:43,360 Speaker 2: he's black when it's white. You get where I'm going 285 00:16:43,440 --> 00:16:46,640 Speaker 2: with this. The point is we know this about him. 286 00:16:46,960 --> 00:16:51,400 Speaker 2: We know he's unpredictable, and that makes his unpredictability predictable. 287 00:16:52,840 --> 00:16:55,640 Speaker 2: I reckon we aren't taking his threats as seriously as 288 00:16:55,760 --> 00:16:59,200 Speaker 2: we were two months ago. Not the US consumer, not 289 00:16:59,520 --> 00:17:03,600 Speaker 2: Chinese industry, not US and you know who else should 290 00:17:03,600 --> 00:17:07,480 Speaker 2: stop paying him so much, damn attention the Reserve Bank. 291 00:17:08,520 --> 00:17:10,880 Speaker 2: Ryan Bridge shows B twenty nine. 292 00:17:10,800 --> 00:17:11,520 Speaker 5: After Folk. 293 00:17:16,960 --> 00:17:20,520 Speaker 2: My Flint be I See if you live There. Lots 294 00:17:20,560 --> 00:17:24,200 Speaker 2: of texts about the OCR and also Penny Simmons the 295 00:17:24,320 --> 00:17:26,560 Speaker 2: interview we just had with the vacation minister. We'll get 296 00:17:26,560 --> 00:17:29,760 Speaker 2: to that after the break. Our reporters and Mitch mccannon 297 00:17:29,800 --> 00:17:48,840 Speaker 2: State Side US Talk set B, the. 298 00:17:48,960 --> 00:17:52,080 Speaker 1: First Word on the News of the Day Early edition 299 00:17:52,359 --> 00:17:55,879 Speaker 1: with Ryan Bridge, and one roof Make Your Property Search 300 00:17:56,240 --> 00:17:57,960 Speaker 1: Symbol News Talk PY. 301 00:18:06,960 --> 00:18:08,040 Speaker 7: Good Morning, twenty. 302 00:18:07,840 --> 00:18:10,520 Speaker 2: Four away from six News Talk SAVV. Welcome to your 303 00:18:10,560 --> 00:18:13,159 Speaker 2: Thursday morning. Mitch McCann is in the state for US. 304 00:18:13,200 --> 00:18:16,000 Speaker 2: Donald Trump's just done a press conference, spoken about Russia 305 00:18:16,000 --> 00:18:17,560 Speaker 2: and a bunch of other stuff. We'll talk to him. 306 00:18:17,640 --> 00:18:21,399 Speaker 2: Nick Tuffley from ASB on the OCR announcement yesterday and 307 00:18:21,600 --> 00:18:24,240 Speaker 2: just how low the rates might go? Is now the 308 00:18:24,320 --> 00:18:26,480 Speaker 2: time to lock him that sort of stuff. Lots of 309 00:18:26,520 --> 00:18:28,840 Speaker 2: text on Penny Simmons, the minister on the program a 310 00:18:28,880 --> 00:18:33,200 Speaker 2: short time ago. She's the vocational education Minister. We're still 311 00:18:33,400 --> 00:18:37,480 Speaker 2: forty percent down on our international student numbers. The universities 312 00:18:37,520 --> 00:18:42,359 Speaker 2: have bounced back somewhat, but it's your secondary school and 313 00:18:42,520 --> 00:18:45,679 Speaker 2: your vocational education. We're still way behind on pre COVID. 314 00:18:46,640 --> 00:18:49,040 Speaker 2: And she said it was to poo Kinger, she said 315 00:18:49,119 --> 00:18:51,280 Speaker 2: it was quite incredible to listen to. Actually, she said 316 00:18:51,280 --> 00:18:54,280 Speaker 2: to poo Kinger comes along, this is the is and 317 00:18:54,520 --> 00:18:56,879 Speaker 2: points out Ryan, remember who set to pooking her up? 318 00:18:56,920 --> 00:19:01,680 Speaker 2: It was Hapkins sets that up, this big overarching agency. 319 00:19:01,840 --> 00:19:04,520 Speaker 2: They go out to market to international students with the 320 00:19:04,600 --> 00:19:08,399 Speaker 2: name to Pookinger, and you can't market your individual polytech 321 00:19:08,840 --> 00:19:11,600 Speaker 2: to these students. So they're going, what the hell is 322 00:19:11,640 --> 00:19:14,400 Speaker 2: to Pookinger? And where do I google that? And where 323 00:19:14,480 --> 00:19:17,040 Speaker 2: is its credentials? And how do I That makes no 324 00:19:17,160 --> 00:19:19,120 Speaker 2: sense to me. If you've got a brand, if you're 325 00:19:19,119 --> 00:19:21,600 Speaker 2: a polytech and into cargo, you've got a good brand, 326 00:19:21,640 --> 00:19:24,680 Speaker 2: You've been doing it for a long time. Taking away 327 00:19:24,720 --> 00:19:26,959 Speaker 2: your right to market yourself makes no sense. And anyway, 328 00:19:27,000 --> 00:19:29,639 Speaker 2: the numbers reflect this, Ryan, was that Penny on a 329 00:19:29,720 --> 00:19:32,440 Speaker 2: few seconds ago. She speaks a lot of sense, as 330 00:19:32,520 --> 00:19:34,879 Speaker 2: does the woman about the supermarket. Sue Chapman was on 331 00:19:34,920 --> 00:19:39,840 Speaker 2: about supermarkets this morning. Two smart women on the show. Yeah, 332 00:19:40,359 --> 00:19:42,760 Speaker 2: and it happens, It happens often. We're about to hear 333 00:19:42,800 --> 00:19:46,000 Speaker 2: from Neva she's a smart woman on the show. 334 00:19:46,800 --> 00:19:46,960 Speaker 8: Right. 335 00:19:47,000 --> 00:19:49,719 Speaker 2: It is twenty two minutes away from six Crayon Bridge. 336 00:19:50,880 --> 00:19:52,879 Speaker 2: Get to our reporters around the country, Color Procter and 337 00:19:52,920 --> 00:19:56,200 Speaker 2: Tonedin Good Morning. Want to write a big celebration for 338 00:19:56,320 --> 00:19:57,359 Speaker 2: Otago Med School. 339 00:19:58,400 --> 00:19:58,920 Speaker 7: Yes, it's so. 340 00:19:59,040 --> 00:20:03,240 Speaker 9: One hundred and fifty celebrations from today and the commemorations 341 00:20:04,119 --> 00:20:07,200 Speaker 9: are well underway. They are on through until Sunday to 342 00:20:07,240 --> 00:20:10,640 Speaker 9: celebrate alumni, past and presence staff and also current students. 343 00:20:11,160 --> 00:20:13,760 Speaker 9: The organizers say they'll be honoring a century and a 344 00:20:13,840 --> 00:20:18,200 Speaker 9: half of clinical training, research and innovation across the schools 345 00:20:18,280 --> 00:20:21,920 Speaker 9: Duned and christ Church and Wellington campuses. The University Vice 346 00:20:22,000 --> 00:20:24,960 Speaker 9: Chancelly here Grunt Robertson says this is a wonderful opportunity 347 00:20:25,040 --> 00:20:27,240 Speaker 9: to acknowledge the ways in which the school continues to 348 00:20:27,359 --> 00:20:28,720 Speaker 9: be influential. 349 00:20:29,119 --> 00:20:30,439 Speaker 2: There's a full weekend program. 350 00:20:30,520 --> 00:20:34,080 Speaker 9: There's tours of the school, lighthearted medical review show and 351 00:20:34,200 --> 00:20:35,359 Speaker 9: also a big Garla dinner. 352 00:20:36,280 --> 00:20:41,119 Speaker 2: Sounds lovely, expensive but lovely. How's the weather, Color Well, 353 00:20:41,160 --> 00:20:44,280 Speaker 2: not good for the start of the celebrations. Occasional rain today, southerly, 354 00:20:44,400 --> 00:20:47,240 Speaker 2: strong at times a high of just eleven. Claire Sherwood 355 00:20:47,240 --> 00:20:50,600 Speaker 2: and christ Church, High Claire. Good morning now, big boost 356 00:20:50,720 --> 00:20:54,280 Speaker 2: for Canterbury schools from the government indeed, and a. 357 00:20:54,359 --> 00:20:57,040 Speaker 10: Warm reception to that one hundred and sixty one million 358 00:20:57,080 --> 00:20:59,800 Speaker 10: dollar boost. This money will go towards one hundred and 359 00:21:00,080 --> 00:21:04,320 Speaker 10: fifteen new classrooms three brand new schools. More than half 360 00:21:04,359 --> 00:21:06,960 Speaker 10: of it is specifically set aside for the Salwyn region, 361 00:21:07,000 --> 00:21:09,120 Speaker 10: which we talk about all the time. It's New Zealand's 362 00:21:09,160 --> 00:21:11,920 Speaker 10: fastest growing district. That will include a new school in 363 00:21:12,040 --> 00:21:14,600 Speaker 10: Lincoln as well as land earmarked. 364 00:21:14,200 --> 00:21:15,560 Speaker 4: For at school in Prebleton. 365 00:21:15,880 --> 00:21:19,840 Speaker 10: There will also be fifty two classrooms at Salwyn's existing schools. 366 00:21:20,160 --> 00:21:22,399 Speaker 10: The rest of the fifty three million will go to 367 00:21:22,600 --> 00:21:25,920 Speaker 10: fifty one classrooms, including a new school in wider Canterbury, 368 00:21:26,000 --> 00:21:29,160 Speaker 10: so as far north as Sefton as far south as Hines. 369 00:21:29,560 --> 00:21:32,800 Speaker 10: The Lincoln Primary School principal Chris Nord says, although the 370 00:21:32,880 --> 00:21:34,960 Speaker 10: Ministry has been very slow to react with this, this 371 00:21:35,119 --> 00:21:38,159 Speaker 10: is game changing for the community as the new classrooms 372 00:21:38,200 --> 00:21:41,560 Speaker 10: will provide better teaching and learning spaces. This will add 373 00:21:41,760 --> 00:21:44,680 Speaker 10: space for almost two and a half thousand more students. 374 00:21:44,920 --> 00:21:46,120 Speaker 2: Oh cool, how's your weather? 375 00:21:47,040 --> 00:21:47,680 Speaker 11: Cloudy today? 376 00:21:47,760 --> 00:21:51,080 Speaker 10: But if showers about this morning northeasterly is turning northwest 377 00:21:51,240 --> 00:21:52,399 Speaker 10: and twelve degrees. 378 00:21:52,480 --> 00:21:55,760 Speaker 2: Thank you clear Max, good morning, good morning. And counselors 379 00:21:55,800 --> 00:21:57,920 Speaker 2: are fed up with licensing rules in Wellington. 380 00:21:58,480 --> 00:22:00,280 Speaker 12: Yeah, if you've been trying to open a bar in 381 00:22:00,400 --> 00:22:02,320 Speaker 12: Wellington the past few years, good luck to you, because 382 00:22:02,320 --> 00:22:04,040 Speaker 12: at every step of the way you've had difficulty with 383 00:22:04,119 --> 00:22:08,840 Speaker 12: the council. It's licensing committee police. This latest new bar 384 00:22:08,920 --> 00:22:10,959 Speaker 12: that's trying to open isn't even on Courtney Place. It's 385 00:22:11,160 --> 00:22:14,000 Speaker 12: a flash new craft beer bar that's trying to open 386 00:22:14,240 --> 00:22:18,879 Speaker 12: in Candala, the Tesla driving Lata sipping multimillion dollar mansion 387 00:22:18,920 --> 00:22:22,280 Speaker 12: Candala that says above the harbor. Dian Calvert's a councilor 388 00:22:22,359 --> 00:22:25,080 Speaker 12: started this campaign. She's got virtually the whole council on board. 389 00:22:25,400 --> 00:22:28,480 Speaker 12: They all agree it's getting ridiculous. This place is ready 390 00:22:28,560 --> 00:22:32,280 Speaker 12: to open, but the Council's committee is pausing its license 391 00:22:32,320 --> 00:22:36,240 Speaker 12: for a month because, surprise, surprise, a residence association is 392 00:22:36,320 --> 00:22:39,040 Speaker 12: kicking up a fuss. Calvert wants modern rules clarity on 393 00:22:39,160 --> 00:22:42,000 Speaker 12: licensing clarity from these groups that purport to speak for 394 00:22:42,080 --> 00:22:44,639 Speaker 12: their suburbs, because most of the feedback on social media 395 00:22:45,000 --> 00:22:48,000 Speaker 12: has been pro this flash new bar opening up. 396 00:22:48,080 --> 00:22:50,160 Speaker 2: Yeah, this is the problem with when you get when 397 00:22:50,200 --> 00:22:53,400 Speaker 2: it comes to making a formal submission to council. Real 398 00:22:53,560 --> 00:22:58,200 Speaker 2: people are busy and can't be effed. It's they're just 399 00:22:58,280 --> 00:23:02,200 Speaker 2: basically what works, we're anyway? How's you wear the mats? 400 00:23:02,880 --> 00:23:04,920 Speaker 12: What's rain strengthening today? 401 00:23:05,000 --> 00:23:05,400 Speaker 7: Sixteen? 402 00:23:05,440 --> 00:23:06,119 Speaker 12: The high Central? 403 00:23:06,200 --> 00:23:06,440 Speaker 7: Thank you? 404 00:23:06,600 --> 00:23:09,040 Speaker 2: What's the worst that could happen? Anyway? And coupla. These 405 00:23:09,560 --> 00:23:12,080 Speaker 2: wealthy women and their tesla's have a few chardonnais and 406 00:23:12,200 --> 00:23:13,160 Speaker 2: crashing on the way home. 407 00:23:15,560 --> 00:23:17,400 Speaker 11: It's not that bad as that I can ever get 408 00:23:17,400 --> 00:23:18,960 Speaker 11: into those teslas, you know when they have them in 409 00:23:19,000 --> 00:23:19,960 Speaker 11: the uber tunes up. 410 00:23:19,960 --> 00:23:21,240 Speaker 12: Like who's the handle? 411 00:23:21,840 --> 00:23:23,679 Speaker 11: And some of them they're up the top and there. 412 00:23:23,800 --> 00:23:26,200 Speaker 11: Some of them are at the bottom and confusing, and 413 00:23:26,280 --> 00:23:29,640 Speaker 11: the uba drivers always looking at me like, yes, stupid woman. 414 00:23:29,400 --> 00:23:33,160 Speaker 2: Are and we can't give it. It's actually scarier trying 415 00:23:33,200 --> 00:23:35,879 Speaker 2: to get out because you think, oh are they keeping me? 416 00:23:37,200 --> 00:23:40,680 Speaker 2: Have I been kidnapped? And I didn't know anyway? Hey, 417 00:23:40,760 --> 00:23:43,800 Speaker 2: big night for Lord fans in Auckland Central last night. 418 00:23:43,960 --> 00:23:47,600 Speaker 11: This was so cool. So she was holding the surprise 419 00:23:48,000 --> 00:23:50,439 Speaker 11: pop up gig in a bathroom. It was a women's bathroom, 420 00:23:50,480 --> 00:23:52,000 Speaker 11: as well, but I think men were able to go 421 00:23:52,080 --> 00:23:55,760 Speaker 11: in there. So it was, you know, this impromptuy concert. 422 00:23:56,240 --> 00:23:59,400 Speaker 11: They were gathering just outside the YMCA, just off Vincent Street, 423 00:23:59,480 --> 00:24:01,959 Speaker 11: just up the road from here. So thirty people were 424 00:24:02,040 --> 00:24:05,040 Speaker 11: let in at a time for a fifteen minute private 425 00:24:05,200 --> 00:24:08,720 Speaker 11: gig was Lord in this bathroom, imagine that. And this 426 00:24:08,960 --> 00:24:11,240 Speaker 11: was all part of her, you know, her new album, 427 00:24:11,320 --> 00:24:14,240 Speaker 11: The Preview of Virgin. So she was holding this and 428 00:24:14,760 --> 00:24:15,280 Speaker 11: we see. 429 00:24:15,119 --> 00:24:15,920 Speaker 2: That weird, isn't that? 430 00:24:16,240 --> 00:24:18,399 Speaker 11: Well, it is a bit, but I suppose it's just 431 00:24:18,480 --> 00:24:21,520 Speaker 11: that young funkiness of let's do something, do. 432 00:24:21,720 --> 00:24:25,240 Speaker 2: Something different, cool scavenger, haven't find me in the city somewhere. 433 00:24:25,520 --> 00:24:26,840 Speaker 11: I was just thinking of bathroom. I hope it was 434 00:24:26,880 --> 00:24:28,120 Speaker 11: a clean bathroom. Imagine. 435 00:24:28,240 --> 00:24:31,360 Speaker 2: Well my first thought was the last time it popstar 436 00:24:31,400 --> 00:24:33,119 Speaker 2: went in the bathroom, they got in a bit of trouble. 437 00:24:33,119 --> 00:24:34,000 Speaker 2: Remember George Michael. 438 00:24:34,080 --> 00:24:35,120 Speaker 9: Oh, that's right. 439 00:24:35,840 --> 00:24:37,639 Speaker 11: I was a huge fan of George Michael. 440 00:24:38,280 --> 00:24:38,880 Speaker 8: That's right. 441 00:24:40,560 --> 00:24:42,240 Speaker 2: Careful. How's the weather? 442 00:24:42,480 --> 00:24:46,560 Speaker 11: Scattered morning showers, rain, heavy at times, squady thunderstorms, hail possible, 443 00:24:47,040 --> 00:24:50,520 Speaker 11: stay home and exactly nineteen is the high. 444 00:24:51,960 --> 00:24:54,960 Speaker 2: Thank you so much, seventeen to six news Talk, said 445 00:24:55,000 --> 00:24:57,600 Speaker 2: b we'll get to our economists just before six o'clock 446 00:24:57,640 --> 00:24:59,560 Speaker 2: on the OCI and Mitch McCanns stateside. 447 00:24:59,600 --> 00:25:04,280 Speaker 1: Next, International correspondence with Ends and Eye Insurance, Peace of 448 00:25:04,359 --> 00:25:07,879 Speaker 1: mind for New Zealand business production. 449 00:25:07,359 --> 00:25:09,600 Speaker 2: Just talks, did be Nick Toughley on the OICR next 450 00:25:09,720 --> 00:25:13,240 Speaker 2: right now, Mitch mccannon state side for US much Good morning, Ryan, 451 00:25:13,280 --> 00:25:14,960 Speaker 2: good morning, how are you good? Thank you? Now I 452 00:25:15,040 --> 00:25:17,800 Speaker 2: see what Marco Rubio has been up to with visa 453 00:25:18,119 --> 00:25:21,800 Speaker 2: and holting student visas. What's the latest on this? Yeah, 454 00:25:21,840 --> 00:25:22,240 Speaker 2: this is right. 455 00:25:22,320 --> 00:25:25,600 Speaker 13: The Trump administration has ordered embassies around the world to 456 00:25:25,680 --> 00:25:28,320 Speaker 13: stop scheduling new appointments for people that want to come 457 00:25:28,359 --> 00:25:31,560 Speaker 13: to the US on student visas for a time now. 458 00:25:31,600 --> 00:25:34,760 Speaker 13: The reason it's pausing this, it says, according to a memo, 459 00:25:34,920 --> 00:25:37,920 Speaker 13: is because it wants to expand social media vetting to 460 00:25:38,040 --> 00:25:40,240 Speaker 13: making sure that the people that come to the United 461 00:25:40,280 --> 00:25:43,360 Speaker 13: States on student visas are the sort of people they want. 462 00:25:43,400 --> 00:25:45,840 Speaker 13: They're going to go through social media accounts, making sure 463 00:25:45,880 --> 00:25:48,960 Speaker 13: there's no anti Semitism and all this sort of thing. Now, 464 00:25:49,000 --> 00:25:51,960 Speaker 13: this is part of the Trump administrations are crackdown on 465 00:25:52,200 --> 00:25:55,440 Speaker 13: US universities. In recent days, it has tried to stop 466 00:25:55,560 --> 00:25:59,399 Speaker 13: Harvard enrolling foreign students altogether. Now, this is critical for 467 00:25:59,480 --> 00:26:01,760 Speaker 13: a number of these institutions because it's a big. 468 00:26:01,720 --> 00:26:05,119 Speaker 2: Way that a lot of them make money. Fascinating. I 469 00:26:05,280 --> 00:26:08,320 Speaker 2: wonder whether because they're not doing this with tourists, right, 470 00:26:08,520 --> 00:26:10,879 Speaker 2: they're not being as hardcore, but they do look on 471 00:26:10,960 --> 00:26:12,560 Speaker 2: you if you get to the border that sometimes they 472 00:26:12,600 --> 00:26:14,680 Speaker 2: look you up. But I wonder whether someone like the 473 00:26:15,000 --> 00:26:17,840 Speaker 2: you know from the Green Party here very vocal about Gars, 474 00:26:17,880 --> 00:26:20,439 Speaker 2: that are very vocal about Israel, whether they would get 475 00:26:20,480 --> 00:26:24,040 Speaker 2: into the States these days. Well here, I do wonder that. 476 00:26:24,320 --> 00:26:26,240 Speaker 13: I mean, at this stage it is only student visas, 477 00:26:26,280 --> 00:26:27,800 Speaker 13: but some of the people that have been picked up 478 00:26:27,880 --> 00:26:31,080 Speaker 13: by the State Department, you know, people on university campuses 479 00:26:31,119 --> 00:26:34,120 Speaker 13: who have been arrested. Some of them haven't directly even 480 00:26:34,200 --> 00:26:36,600 Speaker 13: been involved in some of the protests. Some of them 481 00:26:36,640 --> 00:26:39,680 Speaker 13: have just written things online quite simply. So, Yeah, that 482 00:26:39,840 --> 00:26:41,920 Speaker 13: is a fair argument. There would be some people coming 483 00:26:42,000 --> 00:26:45,119 Speaker 13: into the country are pretty nervous about actually being allowed in. 484 00:26:45,400 --> 00:26:47,800 Speaker 2: Hey, Musk is not happy with the big Well he 485 00:26:48,000 --> 00:26:50,000 Speaker 2: likes the beautiful part, but not the big part of. 486 00:26:50,119 --> 00:26:52,400 Speaker 7: The beautiful bill. 487 00:26:53,640 --> 00:26:56,040 Speaker 13: Yeah, that's right, he says, you can't have big and beautiful. 488 00:26:56,160 --> 00:26:58,159 Speaker 13: You can maybe have one not the other. This is 489 00:26:58,200 --> 00:27:01,040 Speaker 13: the bill from Donald Trump where he's going to bring 490 00:27:01,119 --> 00:27:03,560 Speaker 13: in tax cuts, more border spending. He's going to start 491 00:27:03,600 --> 00:27:06,919 Speaker 13: a child savings account for American children, which he's actually 492 00:27:07,040 --> 00:27:10,840 Speaker 13: called the Trump Accounts. But Elon Musk says he's disappointed 493 00:27:10,880 --> 00:27:13,919 Speaker 13: to see this spending bill because it's going to increase 494 00:27:14,000 --> 00:27:16,320 Speaker 13: the deficit. Of course, Elon Musk came in with doze 495 00:27:16,400 --> 00:27:19,760 Speaker 13: this Department of Government efficiency to try and reduce our 496 00:27:19,840 --> 00:27:20,520 Speaker 13: government debt. 497 00:27:20,600 --> 00:27:22,680 Speaker 2: But this bill is going to do the exact opposite. 498 00:27:22,960 --> 00:27:26,119 Speaker 13: It's thought it could add six hundred billion US dollars 499 00:27:26,240 --> 00:27:28,040 Speaker 13: every year to the federal deficit. 500 00:27:28,560 --> 00:27:31,119 Speaker 2: Mitch, thank you. Mitch mcan our US correspondent with US 501 00:27:31,200 --> 00:27:32,960 Speaker 2: this morning. It is twelve minutes away from. 502 00:27:32,960 --> 00:27:34,320 Speaker 1: Six Bryan Breds. 503 00:27:34,640 --> 00:27:37,080 Speaker 2: So we've got another OCI cut down twenty five points 504 00:27:37,119 --> 00:27:40,800 Speaker 2: to three point twenty five uncertainty again, Rain's Supreme. They 505 00:27:40,920 --> 00:27:43,080 Speaker 2: reckon we'll get another cut at their next meeting, but 506 00:27:43,160 --> 00:27:45,760 Speaker 2: there's a bunch of caveats to that. Inflation will hit 507 00:27:45,800 --> 00:27:48,159 Speaker 2: two point seven percent nearly out of range, then come 508 00:27:48,240 --> 00:27:51,320 Speaker 2: down to two percent next year. Nick Tuffley, chief Economist, 509 00:27:51,359 --> 00:27:54,200 Speaker 2: Today's be backed with me this morning, Neck, good morning morning. 510 00:27:54,560 --> 00:27:56,639 Speaker 2: Does the fact that they had to vote on this 511 00:27:56,840 --> 00:28:00,200 Speaker 2: one make it more or less hopeful that they will 512 00:28:00,280 --> 00:28:01,280 Speaker 2: do a cut next time? 513 00:28:02,680 --> 00:28:05,640 Speaker 14: Look, it is really a reflection of just how much 514 00:28:05,760 --> 00:28:08,840 Speaker 14: uncertainty there is out there. And the member of the 515 00:28:09,000 --> 00:28:12,200 Speaker 14: committee that voted to keep things on hold just really 516 00:28:12,280 --> 00:28:15,320 Speaker 14: wanted more time to see how some of the inflation 517 00:28:15,520 --> 00:28:17,480 Speaker 14: risks pan out. And of course the big one is 518 00:28:17,560 --> 00:28:20,320 Speaker 14: what Donald Trump is doing with the tariffs and just 519 00:28:20,520 --> 00:28:23,959 Speaker 14: how that will impact inflation in New Zealand. I think 520 00:28:24,000 --> 00:28:27,000 Speaker 14: we'll still get another cut next month. We still think 521 00:28:27,000 --> 00:28:29,639 Speaker 14: we'll get two more in fact, but there's still that 522 00:28:29,800 --> 00:28:32,480 Speaker 14: uncertainty about just how far the Reserve Bank will go, 523 00:28:32,960 --> 00:28:35,639 Speaker 14: and also when it's almost possible that we'll pause at 524 00:28:35,680 --> 00:28:36,080 Speaker 14: some point. 525 00:28:37,359 --> 00:28:41,400 Speaker 2: The Trump uncertainty thing, the only certain thing about him 526 00:28:41,480 --> 00:28:43,800 Speaker 2: is that he is uncertain. Does that not take some 527 00:28:44,040 --> 00:28:46,479 Speaker 2: of the unpredictability of it out of the equation? 528 00:28:47,920 --> 00:28:51,560 Speaker 14: Well, the challenge is that when you have an uncertain environment, 529 00:28:51,800 --> 00:28:54,160 Speaker 14: you get people who don't make decisions, and that also 530 00:28:54,320 --> 00:28:58,280 Speaker 14: flows through and potentially weakens the economy. For the Reserve Bank, 531 00:28:58,320 --> 00:29:01,280 Speaker 14: where they seem to have been debating, there's global growth 532 00:29:01,320 --> 00:29:03,600 Speaker 14: will slow. What will that do to inflation? Is it 533 00:29:03,680 --> 00:29:06,520 Speaker 14: going to be a bit like a supply shop or 534 00:29:06,560 --> 00:29:08,560 Speaker 14: a cost shop where it just gets more expensive to 535 00:29:08,640 --> 00:29:11,720 Speaker 14: make stuff around the world, or is the dominating fact 536 00:29:11,800 --> 00:29:15,479 Speaker 14: going to be people stop buying things, you get weaker demand, 537 00:29:16,200 --> 00:29:19,880 Speaker 14: you get slow exports from New Zealand, and less inflation pressure. 538 00:29:20,000 --> 00:29:22,880 Speaker 14: So they've assumed that's what's going to happen. But they 539 00:29:22,920 --> 00:29:25,600 Speaker 14: are in two minds and that's where the internal debate 540 00:29:26,480 --> 00:29:28,320 Speaker 14: seem to have been for this meeting. 541 00:29:28,560 --> 00:29:31,240 Speaker 2: And then you look at consumer confidence bouncing back in 542 00:29:31,440 --> 00:29:34,280 Speaker 2: the US, you look at some of that Chinese industrial 543 00:29:34,440 --> 00:29:36,840 Speaker 2: profit number, you look at a whole bunch of stuff. 544 00:29:36,840 --> 00:29:40,160 Speaker 2: I mean, it's not actually doom and gloom, is it. 545 00:29:41,480 --> 00:29:46,360 Speaker 14: Look it's not overall. I think with the brink being 546 00:29:46,560 --> 00:29:49,160 Speaker 14: sort of pulled back from particularly around China and the US, 547 00:29:49,520 --> 00:29:52,240 Speaker 14: you are getting some of the lurching from a sort 548 00:29:52,240 --> 00:29:55,880 Speaker 14: of almost a freeze on some trade and manufacturing to 549 00:29:55,960 --> 00:29:58,520 Speaker 14: it's starting to turn around. But look, even that is 550 00:29:58,560 --> 00:30:01,960 Speaker 14: doing some damage in the term. And the reality is 551 00:30:02,080 --> 00:30:05,120 Speaker 14: is that when you look at the US consumers there 552 00:30:05,160 --> 00:30:07,960 Speaker 14: will have slightly this money to go around. In China, 553 00:30:08,040 --> 00:30:10,360 Speaker 14: there's going to be slightly this manufacturing activity. There will 554 00:30:10,360 --> 00:30:13,200 Speaker 14: be ripple effects coming through, but no, not the end 555 00:30:13,240 --> 00:30:15,840 Speaker 14: of the world, but it is in our view likely 556 00:30:15,920 --> 00:30:17,720 Speaker 14: to dampen in place when you're looking a year or 557 00:30:17,760 --> 00:30:18,120 Speaker 14: two out. 558 00:30:18,400 --> 00:30:21,760 Speaker 2: They spoke about, you know, the three percent neutral rate, 559 00:30:22,040 --> 00:30:24,440 Speaker 2: and there was people asking at the press conference, you know, 560 00:30:24,720 --> 00:30:27,640 Speaker 2: do you go lower so that you start reaving things up? 561 00:30:28,160 --> 00:30:30,479 Speaker 2: And they say, basically, we don't like that word anymore. 562 00:30:30,520 --> 00:30:33,000 Speaker 2: It's a little bit obsolete because we're so close to neutral. 563 00:30:33,080 --> 00:30:36,120 Speaker 2: We're going to start using quote feel our way. What's 564 00:30:36,200 --> 00:30:36,600 Speaker 2: that about? 565 00:30:37,840 --> 00:30:40,640 Speaker 14: Well, I think that's reality is like neutral, some concept 566 00:30:40,680 --> 00:30:42,720 Speaker 14: where you can never really see it, and they see 567 00:30:42,720 --> 00:30:44,440 Speaker 14: it somewhere between two and a half and three and 568 00:30:44,480 --> 00:30:46,160 Speaker 14: a half, so they're kind of in that territory at 569 00:30:46,200 --> 00:30:48,680 Speaker 14: the moment. It's kind of like trying to engineer a 570 00:30:48,800 --> 00:30:51,000 Speaker 14: landing in the fog. You kind of have to sort 571 00:30:51,040 --> 00:30:53,000 Speaker 14: of almost sort of wait until you feel a bit 572 00:30:53,040 --> 00:30:56,280 Speaker 14: of rumbling from the ground coming through. Where we are 573 00:30:56,360 --> 00:30:58,480 Speaker 14: at the moment, you can see there's a bit of 574 00:30:58,480 --> 00:31:01,160 Speaker 14: a lag in the impact of interest rates coming through. 575 00:31:01,320 --> 00:31:05,240 Speaker 14: That's pretty clear, and that's always there. But it does 576 00:31:05,360 --> 00:31:08,160 Speaker 14: look like with the economy just taking a little bit 577 00:31:08,200 --> 00:31:10,560 Speaker 14: of time for that's a domestic spending to get going that. 578 00:31:10,680 --> 00:31:12,320 Speaker 14: We still need interest rates to go with. 579 00:31:12,360 --> 00:31:15,840 Speaker 2: Them yet, Yeah, but not too low because they don't 580 00:31:15,840 --> 00:31:17,880 Speaker 2: want to overcook things the other way right, And there's 581 00:31:17,880 --> 00:31:19,160 Speaker 2: a time leg as you say. 582 00:31:20,000 --> 00:31:23,160 Speaker 14: Yep, there's always the art and you're doing it where 583 00:31:23,240 --> 00:31:25,200 Speaker 14: it takes two years for what you do to hear 584 00:31:25,200 --> 00:31:26,960 Speaker 14: it's full effect as well, so it's not easy. 585 00:31:27,280 --> 00:31:30,680 Speaker 2: Appreciate your time, Nick Nick touughly A'sbchief Economists eight to 586 00:31:30,800 --> 00:31:32,240 Speaker 2: six Newstalk ZB. 587 00:31:33,360 --> 00:31:37,000 Speaker 1: Get ahead of the headlines on early edition with Ryan 588 00:31:37,120 --> 00:31:41,160 Speaker 1: Bridge and one roof Make your Property Search Simple News 589 00:31:41,240 --> 00:31:41,880 Speaker 1: Talk ZEDB. 590 00:31:42,160 --> 00:31:44,800 Speaker 2: Good morning, Ryan, the Napier topel road's just gone back 591 00:31:44,840 --> 00:31:47,720 Speaker 2: to one hundred ks up from eighty. Yay, it's just happened. 592 00:31:47,840 --> 00:31:50,959 Speaker 2: Very happy, good for you. Six away from six mics here. 593 00:31:50,960 --> 00:31:53,720 Speaker 2: Good morning, Mike, good morning. Have you seen this New 594 00:31:53,800 --> 00:31:58,120 Speaker 2: Zealand Initiative supermarket report? Also, so what Sue Chepman says, 595 00:31:58,200 --> 00:32:00,320 Speaker 2: this has just been paid for by the super markets 596 00:32:00,600 --> 00:32:01,920 Speaker 2: who don't want to be broken up. 597 00:32:02,160 --> 00:32:03,720 Speaker 4: Oh no, no, no, you don't want to believe what 598 00:32:03,840 --> 00:32:07,360 Speaker 4: Seu says. If you read the report, what they're arguing. 599 00:32:07,440 --> 00:32:09,800 Speaker 4: I think they're wrong. I think they're wrong. But what 600 00:32:09,920 --> 00:32:13,360 Speaker 4: they're arguing is that you let the market speak for 601 00:32:13,480 --> 00:32:14,520 Speaker 4: itself and. 602 00:32:14,600 --> 00:32:15,600 Speaker 2: Get the government out of the way. 603 00:32:15,880 --> 00:32:17,840 Speaker 4: But get the government out of the way, but allow 604 00:32:18,000 --> 00:32:20,640 Speaker 4: through regulation the ability for people who want to come 605 00:32:20,680 --> 00:32:22,880 Speaker 4: in to come in. Now, what I don't understand about 606 00:32:22,880 --> 00:32:24,760 Speaker 4: what they're saying, and what's unfair about it because their 607 00:32:24,800 --> 00:32:27,440 Speaker 4: free market thinkers, yes, is that under their new rules 608 00:32:27,480 --> 00:32:31,800 Speaker 4: and regulations, the current players can't participate. So you lock 609 00:32:31,880 --> 00:32:35,640 Speaker 4: the current players out while allowing allegedly all these people 610 00:32:35,680 --> 00:32:37,480 Speaker 4: around the world who just can't wait to get into 611 00:32:37,520 --> 00:32:39,160 Speaker 4: the country access to the marketplace. 612 00:32:39,320 --> 00:32:41,040 Speaker 2: Yeah, but a lot of it is to do with 613 00:32:41,240 --> 00:32:44,880 Speaker 2: ther overseas investment approvals and the like, which these companies 614 00:32:45,080 --> 00:32:46,120 Speaker 2: who are here don't need. 615 00:32:46,480 --> 00:32:49,160 Speaker 4: No, indeed they not. But what they're saying is you 616 00:32:49,240 --> 00:32:51,200 Speaker 4: can't log I mean, what you could argue is is 617 00:32:51,360 --> 00:32:54,280 Speaker 4: as the market changes and all these new people arrive 618 00:32:54,360 --> 00:32:56,360 Speaker 4: into the marketplace. This is where I think they're wrong. 619 00:32:56,360 --> 00:32:58,120 Speaker 4: I don't think anyone's coming into the country. I mean, 620 00:32:58,200 --> 00:33:00,160 Speaker 4: if you think there's a gap in the market, it 621 00:33:00,720 --> 00:33:03,760 Speaker 4: and your costco or ELD, who you take it you've 622 00:33:03,800 --> 00:33:04,440 Speaker 4: worked this threat. 623 00:33:04,560 --> 00:33:06,840 Speaker 2: I interviewed that the former managing director of Costco a 624 00:33:06,880 --> 00:33:09,200 Speaker 2: few months ago, and he said the biggest problem for 625 00:33:09,320 --> 00:33:12,600 Speaker 2: them was zoning of the land that they normally Costco 626 00:33:12,720 --> 00:33:15,520 Speaker 2: built up and they came here and that built their 627 00:33:15,560 --> 00:33:16,600 Speaker 2: first flat shop. 628 00:33:16,840 --> 00:33:19,160 Speaker 4: The only thing that makes sense in that report is 629 00:33:19,240 --> 00:33:22,360 Speaker 4: that what they're arguing is for consent purposes. You go 630 00:33:22,920 --> 00:33:25,520 Speaker 4: consented as a package, so you go, Hi, I'm Costco. 631 00:33:25,960 --> 00:33:28,680 Speaker 4: I want thirty seven supermarkets on thirty seven bits of 632 00:33:28,760 --> 00:33:30,960 Speaker 4: land all over the country. So you deal with it 633 00:33:31,120 --> 00:33:33,200 Speaker 4: in a one stop shop where it is being do 634 00:33:33,280 --> 00:33:33,840 Speaker 4: it all at once. 635 00:33:34,000 --> 00:33:35,600 Speaker 2: That makes it so. That does make sense. 636 00:33:35,920 --> 00:33:39,280 Speaker 4: But my argument has always been there aren't that there's 637 00:33:39,320 --> 00:33:42,560 Speaker 4: only five million of us, This idea that somehow where 638 00:33:42,680 --> 00:33:44,520 Speaker 4: Europe and the whole world is waiting to come in. 639 00:33:44,600 --> 00:33:48,200 Speaker 2: It's like why Hecky Island saying that that's US compared 640 00:33:48,200 --> 00:33:49,120 Speaker 2: to the restaurant. 641 00:33:48,840 --> 00:33:51,240 Speaker 4: Worldstly, and that's the bit I think the report this 642 00:33:51,400 --> 00:33:53,960 Speaker 4: is anyway, Prime Minister's in this morning because he's better 643 00:33:54,720 --> 00:33:57,920 Speaker 4: and Christian Hawksby's in this morning, so some interesting questions 644 00:33:57,960 --> 00:33:58,239 Speaker 4: for him. 645 00:33:59,320 --> 00:34:02,400 Speaker 2: All right for a look forward to where do you shop? Barrow? 646 00:34:03,360 --> 00:34:05,720 Speaker 2: I was in Faroh yesterday, actually picked what did you 647 00:34:05,800 --> 00:34:07,040 Speaker 2: do there? What did you get? I've got a little 648 00:34:07,120 --> 00:34:09,040 Speaker 2: Vietnamese summer role. 649 00:34:10,400 --> 00:34:10,560 Speaker 14: Love. 650 00:34:10,640 --> 00:34:12,319 Speaker 4: Do you realize what that sounds like when you say 651 00:34:12,360 --> 00:34:14,840 Speaker 4: stuff like that. No, I was at Faroh yesterday and 652 00:34:14,920 --> 00:34:17,040 Speaker 4: I got a lovely little Vietna It was. 653 00:34:17,040 --> 00:34:20,000 Speaker 2: An exception to the role. That's why I'm telling the story. 654 00:34:20,120 --> 00:34:21,200 Speaker 4: What do you normally buy something? 655 00:34:22,040 --> 00:34:26,040 Speaker 2: Countdown with a half a Chicken hot truck. 656 00:34:28,239 --> 00:34:31,200 Speaker 1: For more from Early Edition with Ryan Bridge. Listen live 657 00:34:31,360 --> 00:34:34,320 Speaker 1: to news talks. It'd be from five am weekdays, or 658 00:34:34,440 --> 00:34:36,279 Speaker 1: follow the podcast on iHeartRadio.