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Speaker 1: Pressing the newsmakers to get the real story. It's Heather

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Speaker 1: Duplicy Ellen Drive with One New Zealand to coverage like

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Speaker 1: no one else.

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Speaker 2: News Talks have v Afternoon.

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Speaker 3: Welcome to the show coming up today. The Reserve Banks

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Speaker 3: Acting Governor Christian hawksby with us after five on the cuts,

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Speaker 3: the Teachers' Union of the strike, the will guy's on

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Speaker 3: how came our woolcam to be used for the tennisballs

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Speaker 3: but company reports. We've got Fletcher and Spark and Winston

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Speaker 3: Peters on why he wants to testify to the COVID inquiry.

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Speaker 3: Heather Dupericy Alan, the longer that this economic funk that

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Speaker 3: we find ourselves and goes on, the more that Jared

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Speaker 3: kurve Kiwi Bank is being proven right, isn't he? And

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Speaker 3: we had a cut today it was twenty five basis

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Speaker 3: points down to three percent now with the expectation that

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Speaker 3: we will maybe get down to two point five percent

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Speaker 3: before the thing bottoms out. Two point five percent is

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Speaker 3: where Jared Kerr has been saying four months that we

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Speaker 3: need to get to. But even though he's been saying it,

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Speaker 3: eye locked it and looked like at least September last

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Speaker 3: year if not earlier, even though he's been saying it

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Speaker 3: since then, the Reserve Bank has only just caught up

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Speaker 3: with him. Up to now, they've been talking about two

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Speaker 3: point seventy five three percent. Maybe Now, what you should

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Speaker 3: take from that is that the Reserve Bank is surprised

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Speaker 3: by what Jared Kerr and you could argue many of

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Speaker 3: us have been seeing for ages, which is that the

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Speaker 3: economy is properly, properly, properly stuffed, like stuffed enough that

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Speaker 3: they should be cutting a lot more than they are.

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Speaker 3: Why this is a surprise to them is beyond me,

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Speaker 3: because you just need to look at what's going on

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Speaker 3: with business today to see it. Fletcher a massive loss,

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Speaker 3: spark profit down, massively, huge job cuts there, kitchen things

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Speaker 3: in receivership. Now, some of that will be absolutely because

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Speaker 3: of poor decisions, but some of that is because we

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Speaker 3: are in an economic funk come recession as bad as

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Speaker 3: anything in my entire life. I mean, the last time

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Speaker 3: we saw anything this bad was the eighties, some indicators

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Speaker 3: say the seventies. So why the Reserve Bank hasn't cut more,

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Speaker 3: including today, is baffling. They debated it. By the way,

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Speaker 3: it did occur to them four of them voted for

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Speaker 3: the twenty five percent of the twenty five basis point

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Speaker 3: cut that we got. Two of them voted for a

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Speaker 3: double cut of fifty basis points. Two of them can

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Speaker 3: see what the rest of us can see, but the

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Speaker 3: four wins. Unfortunately, the fact that they cut today and

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Speaker 3: indicated they will cut more than they had previously expected

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Speaker 3: to cut is a sign that they made a mistake

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Speaker 3: when they didn't cut last time and opted to hold instead.

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Speaker 3: The Reserve Bank is once again caught on the hop

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Speaker 3: making the economy worse than it needs to be. If

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Speaker 3: only Jared Kerr was running the joint Heather Do for

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Speaker 3: c Allen nineteen is the text understandard text fees apply. Now,

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Speaker 3: here's a question for you. Should insurance companies have access

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Speaker 3: to your genetic data? There is a call for the

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Speaker 3: government to ban insurance companies from what's called genetic discrimination. Now.

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Speaker 3: That is when they ask you for your gene testing,

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Speaker 3: and if your gene testing shows that you're at higher

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Speaker 3: risk for a type of disease, then the insurance company

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Speaker 3: makes you pay more for it. Now, Jody Bue's hair

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Speaker 3: is a part of the Familial Breast and Ovarian Cancer Trust.

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Speaker 3: Hey Jody, you got gen test today. Certainly it did,

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Speaker 3: and it showed what.

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Speaker 4: Showed that was positive for the Bracker two Brca two

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Speaker 4: gene mutation, this which is an extremely high risk for

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Speaker 4: breast and ovarian cancer.

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Speaker 3: Right, and so as a result, did you have your

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Speaker 3: breasts taken off?

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Speaker 5: I did.

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Speaker 4: I had a double mistectomy at the age of forty

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Speaker 4: and reconstruction and then I also had my ovaries and

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Speaker 4: fallopian tubes taken right as well.

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Speaker 3: Well, how much does that drop your risk of cancer by?

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Speaker 4: It dropped it from around at that time upwards to

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Speaker 4: eighty five percent, although I was told at the age

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Speaker 4: of forty that it was not if I was going

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Speaker 4: to get breast cancer, it was when, and it was

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Speaker 4: probably going to be in the next year. And it

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Speaker 4: dropped it down to about one percent because I still

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Speaker 4: have around one percent of breast issue left.

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Speaker 3: Okay, So how come the insurance company is pay making

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Speaker 3: you pay more for your premiums than if you're at

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Speaker 3: a lower risk than most women.

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Speaker 4: I think it's just one of the lunges of everyone

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Speaker 4: grappling with how genetics and predictive testing works. I mean,

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Speaker 4: obviously we still have family history and I think that's

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Speaker 4: fair enough to continue to look at family history. But

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Speaker 4: but yeah, in terms of I've asked for a review

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Speaker 4: of the loading on insurance because yeah, I don't have

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Speaker 4: that risk anymore. I don't have any breast issue. So yeah,

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Speaker 4: it's pretty hard to argue that I have the same

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Speaker 4: risk as the rest of the population because the rest

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Speaker 4: of the population is ten percent and so pretty much none.

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Speaker 3: I don't get it, Jody. Are they just not thinking

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Speaker 3: this through or is there something that they at the

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Speaker 3: insurance company knows that you don't know.

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Speaker 4: I don't think it's quite like that. I just think

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Speaker 4: it's it's part of that challenge of keeping up with

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Speaker 4: the changes and technology, the changes in what's happening around testing.

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Speaker 4: I think it's something for you know, actually and underwriters

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Speaker 4: to grapple with. And I think it also is becomes

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Speaker 4: incumbent on us to challenge and find out about the

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Speaker 4: loadings as well. You know, it's a similar My daughters

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Speaker 4: have seventy five percent loading on their life insurance and

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Speaker 4: they haven't been tested.

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Speaker 3: Yeah, yeah, yeah, So are you better off then not

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Speaker 3: actually doing the test in the first place and just

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Speaker 3: just taking your chances?

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Speaker 4: Definitely not, I think and that's you know, one of

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Speaker 4: the reasons that Agenda is doing what we're doing to

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Speaker 4: try and advocates for the total band because genetic tests

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Speaker 4: and saves lives. I mean, if I hadn't done that test,

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Speaker 4: there's a high chance now at the age of fifty two,

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Speaker 4: that I'd be dead because most of the people in

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Speaker 4: my family who got breast cancer died before the age

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Speaker 4: of fifty and so yeah, anything that encourages people to

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Speaker 4: get testing is really important because it literally saves lives

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Speaker 4: and ultimately saves money down the track. It's a lot

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Speaker 4: cheaper to funder prophylectic surgery or screening that it is

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Speaker 4: too gunned ten years of cancer treatment, which is what

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Speaker 4: my sister went through.

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Speaker 3: Jody, Hey, thanks very much, really appreciate a best of

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Speaker 3: luck with this campaign. Excuse me. Jody Bue's hair part

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Speaker 3: of the Familial Breast and Ovarian Cancer Trust. Donald Trump

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Speaker 3: has phoned into Fox and Friends to tell them why

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Speaker 3: it is that he's so keen on brokering a peace

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Speaker 3: deal for Ukraine. It's because he wants to get to heaven.

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Speaker 3: He said, I want to try to get to heaven

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Speaker 3: if possible. I'm hearing I'm not doing well. I'm really

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Speaker 3: at the bottom of the totem pole. But if I

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Speaker 3: can get to heaven, this will be one of the reasons.

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Speaker 3: Thirteen past four.

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Speaker 1: It's the Heather du Bussy Alan Drive Full Show podcast

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Speaker 1: on iHeartRadio powered by News Talk ZB.

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Speaker 3: Heather Today, friends told me of three working people who

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Speaker 3: can't afford to rental own a house anymore. One was

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Speaker 3: an architect, one was a mechanic who and another one

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Speaker 3: owned their own business. One is sleeping in his car,

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Speaker 3: and the other ones under the office desk. An employee

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Speaker 3: who asked the boss if she can park a caravan

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Speaker 3: out the back of the business. She has a husband

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Speaker 3: and an eight year old daughter. It's that tough if

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Speaker 3: even employed people are going broke. What is happening? Fair

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Speaker 3: Point are seventeen past four good.

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Speaker 1: Sport with tab Multi's Fast Easy and more Codes eighteen

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Speaker 1: bit Responsible.

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Speaker 3: Garcy Wadgrave sports talk hosters with me.

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Speaker 6: Hello, does hello Heather?

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Speaker 3: Did we know that Walla Satiti and to Mighty Williams

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Speaker 3: are coming back?

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Speaker 2: Yeah?

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Speaker 3: Did we?

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Speaker 7: Yeah? Okay, yeah no, that was always first plan. They

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Speaker 7: got through their injury issues. They're well ready to go.

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Speaker 7: It's a matter of where they'll be picked. Will they

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Speaker 7: be picked to start in the fifteen? Will they both

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Speaker 7: be in the twenty three? What effect do they want?

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Speaker 7: So anyone's guess, it's as good as yours. I'd say

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Speaker 7: that to mighty will start, although I had a discussions.

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Speaker 7: Someone says, no, no, no, no. You want him as

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Speaker 7: an impact player of the beach to walk all over

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Speaker 7: the top of the Argentines. And then, of course, Watiti,

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Speaker 7: where do you put them in? He's more likely to

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Speaker 7: start off the bench. I'd say, covering some positions. They

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Speaker 7: can move around that loose forward trio.

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Speaker 6: But nobody knows.

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Speaker 7: Unless, of course, you pretend to be Rassi Erasmus and

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Speaker 7: out your team on a Monday.

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Speaker 3: But Scott, is that unusual?

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Speaker 7: Scott, Yeah, it was a Tuesday. Well they didn't. You said, Look,

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Speaker 7: this is I don't care about my team. I'm gonna

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Speaker 7: worry about my team. I'll let it out there on Monday.

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Speaker 7: You guys can work it out. It probably won't be

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Speaker 7: much of a resemblance to the team that runs out

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Speaker 7: in the game, but that's what that's what Rasci is doing.

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Speaker 7: We'll find out on Friday morning who the team is.

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Speaker 7: I don't know if there'll be too many changes. You

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Speaker 7: would like to think that playing with the makeup and

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Speaker 7: the numbers of the side before the South Africans work

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Speaker 7: could either work really well give some guys some time

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Speaker 7: on the ground, or it could blow up in your face.

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Speaker 7: Because you want solidity of connection and combinations, and I

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Speaker 7: think we saw that in the game last week. There

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Speaker 7: were still some areas where the flow wasn't there because

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Speaker 7: the players weren't quite used to playing with each other.

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Speaker 7: So I would like to see continuity in the silly.

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Speaker 3: How do you rate the chances that the Argie's got

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Speaker 3: a fright and come back stronger?

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Speaker 2: Not very high?

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Speaker 3: Why not?

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Speaker 7: Well, they would have got a fright and they'd like

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Speaker 7: to come back stronger, But I don't see where they

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Speaker 7: would come back stronger. The all Blacks were, they weren't

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Speaker 7: perfect by and he stretched the imagination. They've got so

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Speaker 7: much more room to build than Argentina has and the

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Speaker 7: dominance we had and set peace. You can't just turn.

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Speaker 3: That around fair enough. You really can't tell me about

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Speaker 3: the scandal in Venezuelan softball.

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Speaker 6: Okay, there's this guy whay you're laughing.

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Speaker 7: It does sound funny.

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Speaker 3: It isn't very niche isn't it?

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Speaker 7: Okay, Well, the Black Socks are seeking advice because their pitcher,

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Speaker 7: Micah Pimentel has failed a doping test.

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Speaker 3: This is the Venezuelan.

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Speaker 7: Yeah, so he was part of the team that what

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Speaker 7: he pitched Venezuela. He's like the boss man of the

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Speaker 7: team that pitched the defensive guy, the half back, if

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Speaker 7: you were the quarterback, sorry, or the first five eight,

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Speaker 7: very very important. But if he's he's got to get

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Speaker 7: a B sample through, right, bee sample comes through. The

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Speaker 7: question is is do World Softball take the title off

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Speaker 7: Venezuela and in turn give it to the runners up,

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Speaker 7: which is New Zealand.

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Speaker 3: But I mean tell me, I'm going I'm going to

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Speaker 3: sound so stupid right now.

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Speaker 6: No, no, you're not.

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Speaker 7: You're going to sound interested.

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Speaker 3: I mean doping when you're weightlifting, I can see that

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Speaker 3: that you know, presents a material advantage to you. But

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Speaker 3: if all you're doing is throwing a ball at a dude,

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Speaker 3: who is going to hit it? Is it really?

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Speaker 7: I mean, yeah, it's all recovery time. It's all how

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Speaker 7: much you can stay for how long between workouts and

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Speaker 7: keeping your body up. They use that as an aid

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Speaker 7: between the games themselves. What I'm fascinated by anabolic steroids. Mate,

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Speaker 7: there it's Stanozolo. This is like so old yeah, and

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Speaker 7: this is Venezuela. I don't think they're quite up to

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Speaker 7: the program when it.

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Speaker 3: Comes to you've got to use the stuff that no

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Speaker 3: one knows about stuff.

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Speaker 7: I think you might have gone on that one. So

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Speaker 7: a bit of trouble.

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Speaker 3: I'm just not convinced.

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Speaker 6: This is it.

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Speaker 7: But if you're leader of me, that is there and

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Speaker 7: he's like the go to guy, and that's what the

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Speaker 7: picture is in.

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Speaker 6: Soldful and he's cheating.

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Speaker 7: Do you punish the whole team or do you just

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Speaker 7: punish him?

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Speaker 3: Now you punished the whole team.

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Speaker 7: Do you remember back two thousand and eight, I want

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Speaker 7: to say in China the Jamaican four by one hundred team, yeah,

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Speaker 7: which Usain Bolt was a part before he just smeared

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Speaker 7: his copybook by doing personal adverts or whatever it is.

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Speaker 7: That team lost their gold medal because one member of that.

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Speaker 7: You have got it done for.

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Speaker 3: Druss nothing drugs have never done in isolation. Everyone knows.

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Speaker 3: Everyone knows, so you reckon.

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Speaker 7: There's more there and the like as well.

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Speaker 3: And peer pressure is the greatest thing and if they

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Speaker 3: know they're all going to lose their their their ranking.

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Speaker 7: I think it's about an example to me all the time.

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Speaker 7: It's like, right, we don't know what it's going to

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Speaker 7: do to you. Bit that's banned and as a direct result,

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Speaker 7: you've lost this and Venezuela will be a prie, won't

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Speaker 7: he terribly well.

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Speaker 3: We'll see about it.

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Speaker 6: We'll find out when the b shumple comes.

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Speaker 3: Fascinating. Thank you very much, Darcy.

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Speaker 7: I'm going to talk bring Paul tonight on the Selle

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Speaker 7: about world rankings because New Zealand somehow the or Whacks

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Speaker 7: are number one in the world, ahead of South Africa

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Speaker 7: and we haven't beaten them and I don't know how long.

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Speaker 3: It's a funny thing.

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Speaker 2: It's silly.

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Speaker 3: Thank you, Darcy Watergrave Sports Store Coast. He'll be back

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Speaker 3: at seven. It's full twenty two.

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Speaker 1: The name you trust to get the answers you need,

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Speaker 1: it's Heather fu the Clan drive with one New Zealand

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Speaker 1: coverage like no one else us talk.

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Speaker 3: They'd be hey, jeez, I don't know if you've seen it,

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Speaker 3: but Patrick Tupoulotu's facial injury is really gross. Did you

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Speaker 3: see the head knock that he took during the game

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Speaker 3: and then he had a head off and I don't

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Speaker 3: know whether they did one of those HIA assessments or

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Speaker 3: whatever they done on them, but anyway, he has now

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Speaker 3: posted a picture on social media of what happened to

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Speaker 3: his face and he has an enormous dent in his

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Speaker 3: forehead like it catch water. If he lay backwards and

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Speaker 3: poured water on his face, he would have a little

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Speaker 3: lake in the center of his forehead. And you could,

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Speaker 3: I reckon, you could, I reckon? You could? You could

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Speaker 3: get like a fingernail in there to a fingernail's depths.

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Speaker 3: It's gross man anyway, it's quite a significant fracture. And

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Speaker 3: he is on his way home to Auckland for surgery.

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Speaker 3: And you can see why if you have a look

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Speaker 3: on a social media for twenty five hither. I cannot

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Speaker 3: wait till AI takes over control of the Reserve Bank.

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Speaker 3: It could probably not do a worse job put it

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Speaker 3: in so the Reserve Bank. One of the things they

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Speaker 3: have in common with teachers is that they have a

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Speaker 3: lovely long summer break, like it's a really long it's

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Speaker 3: like a good three months where they just kick back,

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Speaker 3: you know, go to the cooks. I don't know, do

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Speaker 3: what they want, get into their short start barbecuing. They

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Speaker 3: don't have to think about the OCR for three months.

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Speaker 3: Finance Minister Nikola Willis is indicator she doesn't love it

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Speaker 3: because yes, it's twenty twenty five, not nineteen fifty two.

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Speaker 3: And the rest of us don't love it either, because

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Speaker 3: what if we need to have like a little emergency

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Speaker 3: Reserve Bank meeting to cut the OCR Well, Acting Governor

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Speaker 3: Christian Hawksby was asked about that today and this is

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Speaker 3: what he said.

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Speaker 8: We currently have twelve months of dates out there, in

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Speaker 8: cludes over this summer period. Of course, we always have

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Speaker 8: the ability to have an emergency meeting outside that schedule

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Speaker 8: if we wish, so that's a no. We're conscious of

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Speaker 8: the gap in meetings between November and February, and particularly

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Speaker 8: the one that we experienced earlier this year. Our meeting

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Speaker 8: schedules have to be determined by the availability of data

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Speaker 8: and that's what we really work off.

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Speaker 9: Yeah.

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Speaker 3: I mean what they have now on the Reserve Bank website.

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Speaker 3: I don't know if you've seen it is real time data,

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Speaker 3: where it basically tracks what's happening to GDP in real

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Speaker 3: time why they think they haven't got enough data is

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Speaker 3: kind of beyond me. I don't really know, but there's

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Speaker 3: a lot that goes on at the Reserve Bank that's

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Speaker 3: beyond me. Lately. We'll have a chat to Christian hawksby

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Speaker 3: after five o'clock. Also, just quickly, just give you an

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Speaker 3: update on what's going on with that meeting between Putin

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Speaker 3: and Zelenski that Trump is trying to push. The Kremlin's

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Speaker 3: pumping the brakes on this big time. Remember Trump said

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Speaker 3: it might happen in the next week, maybe the next

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Speaker 3: two weeks. The Foreign Minister of Russia Sergei Lavrov said

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Speaker 3: any meeting would have to be prepared gradually, you know,

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Speaker 3: with all the little like that, you basically work your

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Speaker 3: way up the junior ranks of the foreign affairs departments,

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Speaker 3: so you get to the senior ones. They haven't rejected it,

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Speaker 3: but it can't just be a meeting for the sake

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Speaker 3: of a meeting. It has to be for basically the

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Speaker 3: end goal. So is this person starting to be a dick?

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Speaker 3: We'll see news is next?

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Speaker 2: News Talk said be extra.

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Speaker 3: What's the inspiration behind this album?

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Speaker 10: I think the inspiration behind the album is kind of

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Speaker 10: a seventies live energy. I wanted a record that felt

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Speaker 10: like a group of people in a room playing together.

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Speaker 10: I've got this amazing band of New Zealand musicians and

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Speaker 10: when we play there's a lot of there's a lot

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Speaker 10: of life and musical conversation going on, and I wanted

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Speaker 10: to capture some of that in a record in the

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Speaker 10: way that I think nineteen seventies records really did beautifully.

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Speaker 10: And then lyrically, the songs a collection of songs that

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Speaker 10: I wrote over about a year, and at the time,

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Speaker 10: you don't have a theme, and I didn't have a

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Speaker 10: real mission about what the album was going to be.

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Speaker 10: I just collected my favorite songs that came together. But

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Speaker 10: then when you in retrospect, you look back and you

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Speaker 10: see there are some threads of optimism and hope in

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Speaker 10: a kind of modern world.

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Speaker 1: That was a News Talks EDB Extra News Talks ed

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Speaker 1: B and iHeartRadio want to give you and a friend

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Speaker 1: Mariah Carey, and many more.

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Speaker 2: The Lights of Vegas is the world's biggest names. This

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Speaker 1: You're exclusive fast to the iHeartRadio Music Festival.

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Speaker 2: In to out at us talk, saidb dot Co dot Ensire.

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Speaker 1: Thanks to your knighted alliance iHeart Radio and used Talks

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Speaker 1: ed B. The Rugby Championship is underway after a compelling

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Speaker 1: victory against Argentina.

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Speaker 2: That is the the All Black span forty four.

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Speaker 6: The All Black scovis to number one in the world.

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Speaker 1: You all black, said to Buanas Aires for the second

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Speaker 1: test against Locke Bullets.

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Speaker 2: Listen to News Talks EDB from nine am.

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Speaker 1: Sunday for live commentary with our voice of Rugby, Elliott Smith.

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Speaker 1: Lovely try All Blacks by Argentina Live nine am Sunday

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Speaker 1: on News Talks EDB, your home of sport your first

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Speaker 1: take on the news.

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Speaker 2: It's early edition with Ryan Bridge.

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Speaker 3: Only a quarter of year eights can write at the

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Speaker 3: level the new curriculum expects.

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Speaker 11: Carl Bruce and Remuera Intermediate School, Prince Suport.

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Speaker 5: The bottom line is if those numbers are accurate.

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Speaker 9: There's a pretty compelling reason for it.

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Speaker 2: When you look at the.

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Speaker 6: Way our school system is designed.

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Speaker 9: We put the least amount of resource and we.

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Speaker 3: Have our highest class sizes in years four to eight.

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Speaker 1: Ryan Bridge on early editions with one root weekdays from

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Speaker 1: five am on news talks, edb on your smart speaker,

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Speaker 1: on the iHeart app and in your car on your

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Speaker 1: drive home it's heather duplicy Ellen drive with one New Zealand.

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Speaker 1: Had of power of satellite mobile news talks, there'd be.

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Speaker 2: Heavy.

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Speaker 3: Your assessment of the economy seems to be based on

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Speaker 3: Auckland further south. The times are not tough anymore. The

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Speaker 3: Reserve Bank needs to reconsider the whole consider the whole country. Well, actually,

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Speaker 3: if you have a go fairpoint, fairpoint. But if you

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Speaker 3: have a look at their monetary policy statement, what you'll

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Speaker 3: see in there is that today many agricultural businesses have

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Speaker 3: used the earnings from the high export revenues to pay

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Speaker 3: down debt, which means they're not passing it through in

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Speaker 3: consumption and investments. So it's pretty limited out there as well. Listen,

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Speaker 3: Barri soopers with us in ten minutes time. We've got

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Speaker 3: Dan Mitchison standing by out of the US and as

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Speaker 3: I say, Christian Hawksby will be with us acting Reserve

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Speaker 3: Bank Governor after five twenty two. Away from five.

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

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Speaker 3: Donald Trump says he's open to providing American pilots and

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Speaker 3: warplanes to Ukraine as part of a peace steel. White

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Speaker 3: House pre Secretary Caroline Leavitt has ruled out sending any

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Speaker 3: ground forces, though.

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Speaker 12: The President has definitively stated US boots will not be

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Speaker 12: on the ground in Ukraine, but we can certainly help

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Speaker 12: in the coordination and perhaps provide other means of security

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Speaker 12: guarantees to our European allies.

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Speaker 3: Australia Israel having a spatant Yaho has accused Ozzie of

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Speaker 3: betraying Israel. Australian diplomats have obviously been banned from the

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Speaker 3: occupied West Bank after fire right Israeli politician was barred

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Speaker 3: from entering as Australia. Albo says, Ozzie hasn't betrayed anyone.

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Speaker 13: I think the Australians very much. One two things to happen. One,

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Speaker 13: they want people to stop killing each other, whether it

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Speaker 13: be Israelis or Palestinians. Second thing that they want is

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Speaker 13: for conflict to not be brought here.

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Speaker 3: And finally, rules in the USA have found radioactive shrimp.

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Speaker 3: The FDA is investigating after a shipment of frozen rule

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Speaker 3: frozen shrimp from Indian She was found to be contaminated

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Speaker 3: with the radio active element caesium. Is that how you

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Speaker 3: pronounce it?

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Speaker 2: Ends?

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Speaker 9: Yep?

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Speaker 3: Caesium won three seven? Did my reading at school? Which

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Speaker 3: is quite good, isn't it. It's unclear whether anyone has

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Speaker 3: eaten the nuclear shrimp.

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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 3: Erica Stanford will be so proud of me. Dan Mitchinson,

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Speaker 3: US correspondent with US, Dan, welcome back. It's wonderful to

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Speaker 3: have you back with us.

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Speaker 14: Good to be back with you too.

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Speaker 3: Yeah, you've missed out on a lot of good stuff

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Speaker 3: going on in US politics. So talk to me about

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Speaker 3: the American boots on the ground in Ukraine.

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Speaker 14: Well, Trump says he doesn't want boots on the ground,

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Speaker 14: but he might be willing to do some air support.

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Speaker 14: And apparently they've got the plans for this bilateral meeting

442
00:20:44,160 --> 00:20:48,800
Speaker 14: between Putin and Zelenski. But what I find interesting about this, Heather,

443
00:20:48,920 --> 00:20:51,680
Speaker 14: is President Trump says he thinks it would be better

444
00:20:51,680 --> 00:20:53,760
Speaker 14: if the meeting happened without him, And he said he

445
00:20:53,880 --> 00:20:56,159
Speaker 14: just wants to see what goes on. So from my

446
00:20:56,280 --> 00:20:59,320
Speaker 14: point of view, that means that he doesn't think anything

447
00:20:59,400 --> 00:21:01,240
Speaker 14: is going to come out and he wants to stay

448
00:21:01,240 --> 00:21:03,080
Speaker 14: as far away from it, saying, hey, I did my part.

449
00:21:03,119 --> 00:21:07,120
Speaker 14: We got these two together. It's it's Vlensky and and

450
00:21:07,240 --> 00:21:09,960
Speaker 14: Putin that can't you know, come together for an agreement.

451
00:21:10,119 --> 00:21:12,760
Speaker 3: Yes, but the thing is, Zelensky and Potent are not

452
00:21:12,920 --> 00:21:15,040
Speaker 3: going to meet, like Poten is not going to meet

453
00:21:15,119 --> 00:21:18,639
Speaker 3: Zelensky unless there is an actual credible agreement on the

454
00:21:18,680 --> 00:21:21,240
Speaker 3: table that may well be signed. So why doesn't Trump

455
00:21:21,280 --> 00:21:21,800
Speaker 3: want to be there?

456
00:21:21,840 --> 00:21:26,280
Speaker 14: Then that's the question. I mean, But you know, the

457
00:21:26,320 --> 00:21:28,399
Speaker 14: same thing could be said going into the last meeting

458
00:21:28,440 --> 00:21:32,280
Speaker 14: that Trump had with Putin. Did anybody really really think

459
00:21:32,359 --> 00:21:33,679
Speaker 14: that anything was going to come out of that?

460
00:21:33,840 --> 00:21:33,959
Speaker 15: No?

461
00:21:34,119 --> 00:21:36,480
Speaker 14: Absolutely not, And if you did, you were a fool.

462
00:21:36,800 --> 00:21:39,639
Speaker 14: Nothing came out of that. You know, they shook some hands,

463
00:21:39,680 --> 00:21:42,480
Speaker 14: they got some FaceTime on television, and there's a little

464
00:21:42,480 --> 00:21:43,960
Speaker 14: bit of hope down the road. But that's what this

465
00:21:44,000 --> 00:21:44,840
Speaker 14: whole thing has been about.

466
00:21:45,560 --> 00:21:47,679
Speaker 3: Pump the brakes on this, OK, because you are not

467
00:21:47,760 --> 00:21:49,719
Speaker 3: the only person saying this, I mean you are you

468
00:21:49,760 --> 00:21:54,199
Speaker 3: are basically everybody, every analyst in the world are saying this.

469
00:21:54,480 --> 00:21:57,359
Speaker 3: Who thought that when Potent and Trump sat down that

470
00:21:57,400 --> 00:22:00,320
Speaker 3: there was going to be a deal? That's just ridiculous.

471
00:22:01,000 --> 00:22:02,720
Speaker 14: Well I think so too. But you looked at the

472
00:22:02,720 --> 00:22:04,640
Speaker 14: media leading up to this and it.

473
00:22:04,560 --> 00:22:05,000
Speaker 5: Was not good.

474
00:22:05,040 --> 00:22:07,600
Speaker 3: No, But Dan, Dan, jeez, you you've come in and

475
00:22:07,640 --> 00:22:09,600
Speaker 3: you're like, wow, I didn't miss this at all, because

476
00:22:09,600 --> 00:22:13,119
Speaker 3: now I'm being attacked. But not because not because I

477
00:22:13,119 --> 00:22:14,760
Speaker 3: didn't think there was going to be a deal, but

478
00:22:14,840 --> 00:22:16,800
Speaker 3: because this is not how it works. You don't sit

479
00:22:16,840 --> 00:22:20,160
Speaker 3: down and get one deal like there a series of meetings,

480
00:22:20,359 --> 00:22:23,520
Speaker 3: multiple meetings over weeks before you get a deal. So

481
00:22:23,640 --> 00:22:25,199
Speaker 3: anyone thinking there was going to be a deal in

482
00:22:25,240 --> 00:22:27,959
Speaker 3: Alaska was an idiot. And anyone thinking there was going

483
00:22:28,000 --> 00:22:29,400
Speaker 3: to be a deal out of the White House meeting

484
00:22:29,400 --> 00:22:30,960
Speaker 3: it was an idiot. If there is a deal, it

485
00:22:31,040 --> 00:22:33,320
Speaker 3: takes a long time, doesn't it. So why don't we

486
00:22:33,359 --> 00:22:35,119
Speaker 3: all just settle down and see how it goes?

487
00:22:35,960 --> 00:22:38,520
Speaker 14: I well said, because when the commentators were going, wow,

488
00:22:38,560 --> 00:22:40,360
Speaker 14: they're going into the third hour of this meeting, there's

489
00:22:40,359 --> 00:22:42,320
Speaker 14: something that's definitely going to keep coming out of word. No,

490
00:22:42,480 --> 00:22:44,280
Speaker 14: nothing's going to come out of a three hour meeting

491
00:22:44,320 --> 00:22:47,240
Speaker 14: like you said, these things lead weeks and months to

492
00:22:47,560 --> 00:22:48,320
Speaker 14: get a deal like this.

493
00:22:48,680 --> 00:22:51,679
Speaker 3: Well, Dan, I'm glad you're back because you and I

494
00:22:51,760 --> 00:22:53,680
Speaker 3: are seeing eye to eye on this. Now, tell me

495
00:22:53,720 --> 00:22:55,560
Speaker 3: why the adults are buying the kids meals? Is it

496
00:22:55,600 --> 00:22:56,480
Speaker 3: a cost a living thing.

497
00:22:57,200 --> 00:22:59,000
Speaker 14: Well, it's a little bit of a cost of living thing.

498
00:22:59,320 --> 00:23:01,840
Speaker 14: But and they're finding that these orders are up by

499
00:23:01,920 --> 00:23:04,919
Speaker 14: thirty percent in the last few years, even with all

500
00:23:04,960 --> 00:23:08,280
Speaker 14: the restaurant traffic down because the fast food restaurants here

501
00:23:08,280 --> 00:23:10,159
Speaker 14: have taken a hit because of the economy. But a

502
00:23:10,160 --> 00:23:11,920
Speaker 14: lot of it also has to do and I find

503
00:23:11,920 --> 00:23:14,920
Speaker 14: this kind of interesting with changing eating habits. A lot

504
00:23:14,960 --> 00:23:17,760
Speaker 14: of that has to do with those appetite suppressing medications

505
00:23:17,760 --> 00:23:20,239
Speaker 14: that are going out there. So they're saying that, you know,

506
00:23:20,280 --> 00:23:21,760
Speaker 14: and it's one way to save money at a fast

507
00:23:21,800 --> 00:23:23,520
Speaker 14: food place. You can get a kid's meal for four

508
00:23:23,520 --> 00:23:26,840
Speaker 14: to six bucks sit down restaurant and maybe six to nine,

509
00:23:26,840 --> 00:23:28,960
Speaker 14: maybe ten twelve dollars. So people are just sort of

510
00:23:29,000 --> 00:23:30,760
Speaker 14: looking at at you know, trying to lose it a

511
00:23:30,760 --> 00:23:32,159
Speaker 14: little bit of weight. They're saying, we don't want to

512
00:23:32,160 --> 00:23:34,120
Speaker 14: be completely full, we want something that we can get

513
00:23:34,119 --> 00:23:35,920
Speaker 14: that's relatively cost efficient.

514
00:23:36,280 --> 00:23:39,080
Speaker 3: This is I'm taking some hot from this because you

515
00:23:39,080 --> 00:23:41,960
Speaker 3: know the and to be frank, your kid sized meals

516
00:23:42,000 --> 00:23:44,399
Speaker 3: are probably the same size as our adult sized meals

517
00:23:44,400 --> 00:23:46,760
Speaker 3: in New Zealand, so it's a good thing. Now, have

518
00:23:46,880 --> 00:23:48,440
Speaker 3: you got your tight tay cassiat.

519
00:23:49,119 --> 00:23:51,199
Speaker 14: I don't, but I do have a couple of cassette

520
00:23:51,200 --> 00:23:53,320
Speaker 14: players lying around here. In fact, my son a few

521
00:23:53,400 --> 00:23:55,119
Speaker 14: years ago thought it was the coolest thing in the

522
00:23:55,160 --> 00:23:56,720
Speaker 14: world to have one of those things that you could

523
00:23:56,760 --> 00:23:58,720
Speaker 14: just have strapped to your belt and he could listen

524
00:23:58,720 --> 00:24:01,919
Speaker 14: to one cassette at a time. But apparently Taylor Swift

525
00:24:01,960 --> 00:24:04,840
Speaker 14: is going to be releasing her Life of a Showgirl

526
00:24:04,840 --> 00:24:09,120
Speaker 14: in October on vinyl and streaming and a cassette tape. Now,

527
00:24:09,160 --> 00:24:10,680
Speaker 14: I don't know about you. I don't know the last

528
00:24:10,680 --> 00:24:12,240
Speaker 14: time I bought a casset tape. I mean, I've got

529
00:24:12,240 --> 00:24:14,720
Speaker 14: them in the garage somewhere. But there's been attempts to

530
00:24:14,760 --> 00:24:16,960
Speaker 14: revive these things. I guess we have about a half

531
00:24:17,000 --> 00:24:18,920
Speaker 14: million cassettes that were sold in the last year here

532
00:24:18,920 --> 00:24:21,240
Speaker 14: in the US, which is nowhere near the four hundred

533
00:24:21,240 --> 00:24:23,439
Speaker 14: and forty four hundred and fifty.

534
00:24:22,640 --> 00:24:23,800
Speaker 2: In the eighties.

535
00:24:24,040 --> 00:24:26,880
Speaker 14: But the interesting thing real quick. Why there's a sort

536
00:24:26,920 --> 00:24:29,919
Speaker 14: of little resurgence here is music experts are saying that

537
00:24:30,000 --> 00:24:32,560
Speaker 14: tapes provide a different type of listening experience. You know,

538
00:24:32,560 --> 00:24:34,280
Speaker 14: it's not perfect, but you can flip it over, look

539
00:24:34,320 --> 00:24:36,080
Speaker 14: at the art, listen all the way through. And they

540
00:24:36,080 --> 00:24:38,280
Speaker 14: say that's another way to connect. I say that's an

541
00:24:38,320 --> 00:24:42,000
Speaker 14: idiot observation because those things were the most I mean

542
00:24:42,200 --> 00:24:44,480
Speaker 14: you remember how many times that is, the tape would

543
00:24:44,480 --> 00:24:46,879
Speaker 14: come out of your and you had to use a

544
00:24:46,920 --> 00:24:48,359
Speaker 14: pencil to try to stream it back in.

545
00:24:48,480 --> 00:24:54,119
Speaker 3: Yeah, and then go, yep, I do that. I said,

546
00:24:54,600 --> 00:24:57,040
Speaker 3: bug of that. I don't know why the concerns this nonsense.

547
00:24:57,080 --> 00:24:59,760
Speaker 3: Thank you Dan, Dan Mintion sin yis correspondent. I just

548
00:25:00,160 --> 00:25:03,640
Speaker 3: that retro nostalgia makes you lose your mind day here

549
00:25:03,680 --> 00:25:06,560
Speaker 3: that all of your US correspondents are like Barry negative

550
00:25:06,560 --> 00:25:08,879
Speaker 3: towards Trump despite the positive things he's done. Do you

551
00:25:08,960 --> 00:25:11,240
Speaker 3: know what everybody? I just feel like everybody in the

552
00:25:11,240 --> 00:25:14,920
Speaker 3: world is itching to say Trump's an idiot, he was wrong.

553
00:25:15,000 --> 00:25:17,719
Speaker 3: I just feel just he may well be. It's entirely

554
00:25:17,760 --> 00:25:20,920
Speaker 3: possible that his way of banging heads diplomacy doesn't work,

555
00:25:21,080 --> 00:25:23,240
Speaker 3: But can we just see if it works? Before we

556
00:25:23,280 --> 00:25:26,160
Speaker 3: say it hasn't worked. Just Taihua on that quarter two

557
00:25:26,240 --> 00:25:28,600
Speaker 3: and Barry with the tds's.

558
00:25:28,080 --> 00:25:31,680
Speaker 1: Next politics was centric credit, check your customers and get

559
00:25:31,680 --> 00:25:32,560
Speaker 1: payments Surtady.

560
00:25:33,400 --> 00:25:35,359
Speaker 3: By the way, Luxan was on a coalition of the

561
00:25:35,359 --> 00:25:37,520
Speaker 3: willing phone call last night. I'll run you through it shortly.

562
00:25:37,560 --> 00:25:40,440
Speaker 3: It's thirteen away from five. Barry Soper, senior political correspondence

563
00:25:40,480 --> 00:25:40,719
Speaker 3: with US.

564
00:25:40,760 --> 00:25:45,720
Speaker 6: Barry, good afternoon, Just say the outsid that you'll rule.

565
00:25:45,760 --> 00:25:49,399
Speaker 6: Remember it was Trump that was creating the expectation of

566
00:25:49,520 --> 00:25:53,439
Speaker 6: a ceasefire at the first meeting, and he said that

567
00:25:53,480 --> 00:25:56,719
Speaker 6: if Putin didn't agree to it, then there would be

568
00:25:56,800 --> 00:26:00,680
Speaker 6: severe sanctions against Russia. So was no are we other

569
00:26:00,760 --> 00:26:02,440
Speaker 6: than Trump that was creating that.

570
00:26:02,600 --> 00:26:06,760
Speaker 3: Barry Trump's an idiot just because he's the rest of us.

571
00:26:07,680 --> 00:26:08,800
Speaker 6: That's great. Thank you?

572
00:26:09,400 --> 00:26:11,440
Speaker 3: Did you did you honestly need me to admit that

573
00:26:11,480 --> 00:26:12,480
Speaker 3: Trump's an idiot?

574
00:26:12,240 --> 00:26:13,280
Speaker 6: No, that's great.

575
00:26:14,119 --> 00:26:16,879
Speaker 3: At least we're on the same page. I'm still not

576
00:26:16,960 --> 00:26:22,200
Speaker 3: deranged like you. Listen, the Reserve Bank thoughts.

577
00:26:22,040 --> 00:26:25,119
Speaker 6: Well, interesting isn't it that you go back over the

578
00:26:25,160 --> 00:26:28,520
Speaker 6: OCR when our old mate Adrian All was there, I

579
00:26:28,560 --> 00:26:33,399
Speaker 6: mean for since May twenty three. The OCR is at

580
00:26:33,440 --> 00:26:37,679
Speaker 6: five point five percent. It only moved in August last

581
00:26:37,840 --> 00:26:41,440
Speaker 6: year five point two five percent, and now it's down

582
00:26:41,480 --> 00:26:44,840
Speaker 6: to what three percent, So the move is in the

583
00:26:44,920 --> 00:26:48,960
Speaker 6: right direction at long last, that the screws are coming

584
00:26:48,960 --> 00:26:51,680
Speaker 6: off the economy. And if you look at the comments,

585
00:26:51,720 --> 00:26:55,320
Speaker 6: as I watched the news conference of the Reserve Bank today,

586
00:26:55,800 --> 00:26:58,160
Speaker 6: and you look at the comments, the Reserve banks are

587
00:26:58,240 --> 00:27:02,320
Speaker 6: saying that they expect growth from the end of this year,

588
00:27:02,359 --> 00:27:05,480
Speaker 6: and they say the worst is over, better times are

589
00:27:05,480 --> 00:27:08,000
Speaker 6: on the way. We can all only hope for that,

590
00:27:08,080 --> 00:27:12,480
Speaker 6: and hopefully a bit of an enthusiastic injection is put

591
00:27:12,520 --> 00:27:15,760
Speaker 6: into the economy as a result of it. The acting Governor,

592
00:27:15,880 --> 00:27:18,199
Speaker 6: Christian hawks me understand that you go to them on

593
00:27:18,760 --> 00:27:21,520
Speaker 6: he said, the American tariff war, which is pretty obvious

594
00:27:21,800 --> 00:27:24,359
Speaker 6: through a spanner in the works, but he says he

595
00:27:24,480 --> 00:27:27,280
Speaker 6: believes it is wearing off to some extent.

596
00:27:27,520 --> 00:27:31,120
Speaker 8: There hasn't been the escalation that there could have been

597
00:27:31,160 --> 00:27:33,919
Speaker 8: in some of those measures of global policy. Uncertainty have

598
00:27:33,960 --> 00:27:38,800
Speaker 8: actually been falling more recently. But despite that, there has

599
00:27:38,880 --> 00:27:41,960
Speaker 8: been this cautiousness in businesses and consumers, and it has

600
00:27:42,160 --> 00:27:46,919
Speaker 8: lingered longer than we had anticipated. And so that's some

601
00:27:47,040 --> 00:27:50,800
Speaker 8: of the thinking around whether those sectors have just become

602
00:27:51,080 --> 00:27:54,400
Speaker 8: too cautious and need a bit more of a lift

603
00:27:54,440 --> 00:27:55,400
Speaker 8: than we had expected.

604
00:27:55,760 --> 00:28:00,199
Speaker 6: Yeah, so let's hope today's movement that the expectation of

605
00:28:00,240 --> 00:28:04,119
Speaker 6: two more movements. In the short term, we'll see some

606
00:28:04,400 --> 00:28:06,879
Speaker 6: injection back into the economy and us doing a little bit.

607
00:28:06,960 --> 00:28:10,119
Speaker 3: Yeah, definitely. Winston Peters wanting to appear before the COVID

608
00:28:10,119 --> 00:28:12,640
Speaker 3: inquiry is quite an interesting move because he hasn't been called,

609
00:28:12,720 --> 00:28:13,119
Speaker 3: is he.

610
00:28:13,119 --> 00:28:17,320
Speaker 6: No, he hasn't been called. And he tweeted today that look,

611
00:28:17,320 --> 00:28:21,160
Speaker 6: he's writing to the COVID Royal Commission saying that he'll

612
00:28:21,160 --> 00:28:24,120
Speaker 6: put his name up. He's happy to appear in public

613
00:28:24,160 --> 00:28:29,159
Speaker 6: for transparency reasons. And I do remember hither that the

614
00:28:29,200 --> 00:28:34,600
Speaker 6: first four tier alert level lockdown, it was announced on

615
00:28:34,640 --> 00:28:38,240
Speaker 6: the twenty first of March twenty twenty. Don't think that's

616
00:28:38,280 --> 00:28:41,480
Speaker 6: the year of the election that Winston was voted out

617
00:28:41,520 --> 00:28:43,959
Speaker 6: of office, so he didn't have a long time at

618
00:28:44,000 --> 00:28:49,240
Speaker 6: the desk before he lost his role in Parliament. But nevertheless,

619
00:28:49,840 --> 00:28:52,600
Speaker 6: I remember it was a Saturday, the twenty first of March,

620
00:28:52,880 --> 00:28:55,480
Speaker 6: and I remember ringing Winston and saying, what the hell

621
00:28:55,600 --> 00:28:59,120
Speaker 6: is going on here, and it was the old go early,

622
00:28:59,240 --> 00:29:02,480
Speaker 6: go fast, or go fast, go early early, go hard,

623
00:29:02,840 --> 00:29:06,880
Speaker 6: go hard sorry, And you know that's Winston. It was

624
00:29:06,960 --> 00:29:09,680
Speaker 6: beyond him at the time. He said, well, for God's sake,

625
00:29:10,120 --> 00:29:11,800
Speaker 6: you know, we should take a step back. And I

626
00:29:11,840 --> 00:29:15,760
Speaker 6: remember then he was questioning the validity of doing what

627
00:29:15,800 --> 00:29:18,320
Speaker 6: the government was doing. So I think he will have

628
00:29:18,360 --> 00:29:21,840
Speaker 6: a fair part to play in this inquiry, even though

629
00:29:22,240 --> 00:29:26,360
Speaker 6: his experience of it in terms of decision making going

630
00:29:26,440 --> 00:29:28,560
Speaker 6: further on is very limited.

631
00:29:28,600 --> 00:29:30,360
Speaker 3: It is very limited. Hey, really quickly, what did you

632
00:29:30,360 --> 00:29:31,960
Speaker 3: make of Helen Clark's comments today?

633
00:29:32,080 --> 00:29:34,600
Speaker 6: Well, you know, we hear a lot of a lot

634
00:29:34,640 --> 00:29:38,800
Speaker 6: of this, don't we that women suffer greatly in politics

635
00:29:39,440 --> 00:29:42,680
Speaker 6: through social media? And I'm sure they do, but I'm sorry,

636
00:29:42,760 --> 00:29:46,920
Speaker 6: if you're in the public eye hard and up, everybody suffers.

637
00:29:47,000 --> 00:29:49,520
Speaker 6: I mean, I've gone off Twitter because I was tired

638
00:29:49,960 --> 00:29:51,960
Speaker 6: of the abuse that I was getting day out to

639
00:29:52,040 --> 00:29:55,680
Speaker 6: day out to day and violent abuse. It wasn't tired,

640
00:29:55,800 --> 00:30:00,000
Speaker 6: just mild. And Helen Clark talks about the keyboard warrior

641
00:30:00,480 --> 00:30:03,920
Speaker 6: and that's what they are. They're anonymous behind their little

642
00:30:04,000 --> 00:30:06,440
Speaker 6: keyboards and can say what they like and get to

643
00:30:06,520 --> 00:30:09,120
Speaker 6: whoever they like. I think the best thing to do.

644
00:30:09,160 --> 00:30:11,880
Speaker 6: If you don't like it, don't read it.

645
00:30:12,080 --> 00:30:13,840
Speaker 3: Yeah, but just under you know, she loved, which is

646
00:30:13,840 --> 00:30:15,960
Speaker 3: what the comments were, actually loves the old social media,

647
00:30:16,040 --> 00:30:17,640
Speaker 3: so she'll be reading it all. Hey, thank you, very

648
00:30:17,640 --> 00:30:20,560
Speaker 3: appreciate it, very sober, senior political correspondent. We'll talk about

649
00:30:20,560 --> 00:30:23,000
Speaker 3: those comments later on in the program Eight Away from five.

650
00:30:23,880 --> 00:30:27,640
Speaker 1: Putting the tough questions to the newspeakers, the mic asking.

651
00:30:27,320 --> 00:30:30,120
Speaker 11: Breakfast tariffs are fifteen percent worse than places like the

652
00:30:30,200 --> 00:30:32,680
Speaker 11: UK and Australia. Of course, the Hoper's arms can be

653
00:30:32,760 --> 00:30:35,280
Speaker 11: twisted and Todd McLay Trade Minister back with us, what

654
00:30:35,560 --> 00:30:37,800
Speaker 11: chance you get something tangible?

655
00:30:37,920 --> 00:30:40,040
Speaker 16: Yeah, look, I'm not going there to get the terifreight

656
00:30:40,080 --> 00:30:41,240
Speaker 16: off and that's not going to happen.

657
00:30:41,240 --> 00:30:42,400
Speaker 2: So I want to be pretty clear.

658
00:30:42,480 --> 00:30:44,760
Speaker 16: But what I'm going up to do is one express

659
00:30:45,040 --> 00:30:47,200
Speaker 16: you know the harm that I think that's doing to trade.

660
00:30:47,240 --> 00:30:50,600
Speaker 16: But then secondly, what's the process for us to have

661
00:30:50,680 --> 00:30:53,840
Speaker 16: that tifray come down? If we move back to the

662
00:30:53,920 --> 00:30:56,600
Speaker 16: US having a surplus of deaf said which actually most

663
00:30:56,600 --> 00:30:58,680
Speaker 16: of the time our trade has been in the other direction.

664
00:30:58,840 --> 00:31:02,040
Speaker 2: Our surplus ism is five hundred million.

665
00:31:01,960 --> 00:31:04,760
Speaker 11: Back tomorrow at six am the Mike Hosking Breakfast with

666
00:31:04,920 --> 00:31:06,320
Speaker 11: rain Driver News Talk.

667
00:31:06,240 --> 00:31:08,640
Speaker 3: Zaid b, Hey, you will have heard this morning on

668
00:31:08,720 --> 00:31:10,600
Speaker 3: Mike's show he was saying that they're using our wool

669
00:31:10,640 --> 00:31:13,320
Speaker 3: for the tennis balls. Apparently they're using our wool for

670
00:31:13,360 --> 00:31:15,720
Speaker 3: the tennis balls because our will is really light, which

671
00:31:15,760 --> 00:31:17,440
Speaker 3: means the tennis ball is light. We're going to talk

672
00:31:17,480 --> 00:31:20,560
Speaker 3: to New Zealand Wool about that very shortly four, just

673
00:31:20,600 --> 00:31:24,240
Speaker 3: after five o'clock, four away from five. Now, Chris Luxon

674
00:31:24,280 --> 00:31:26,400
Speaker 3: did actually turn up. I'm happy to report to you

675
00:31:26,440 --> 00:31:28,600
Speaker 3: for the latest coalition of the Willing phone call which

676
00:31:28,640 --> 00:31:33,680
Speaker 3: happened last night. Judging from what was being said behind

677
00:31:33,680 --> 00:31:36,280
Speaker 3: the scenes, I get this strong impression he was quite

678
00:31:36,320 --> 00:31:39,520
Speaker 3: embarrassed at the way that it played out and everybody going,

679
00:31:39,800 --> 00:31:41,920
Speaker 3: what do you mean you were sleeping when this meeting

680
00:31:42,040 --> 00:31:43,600
Speaker 3: was happening. So he turned up for the one last

681
00:31:43,680 --> 00:31:46,040
Speaker 3: night and he took Judith with him and they were

682
00:31:46,040 --> 00:31:47,920
Speaker 3: sitting in a kind of like New Zealand version of

683
00:31:47,920 --> 00:31:51,800
Speaker 3: a situation room, and they took a selfie I think,

684
00:31:51,880 --> 00:31:54,120
Speaker 3: to prove that they were in fact there, and then

685
00:31:54,200 --> 00:31:56,680
Speaker 3: Judith posted it on her if he'd posted, it might

686
00:31:56,680 --> 00:31:58,520
Speaker 3: have been two obbies. But she posted it on her

687
00:31:58,520 --> 00:32:00,880
Speaker 3: Twitter account, and you know that they were there, and

688
00:32:00,920 --> 00:32:03,080
Speaker 3: she posted it at twelve twenty three A, so she

689
00:32:03,120 --> 00:32:05,240
Speaker 3: didn't wait a she's out of there, twelve twenty three

690
00:32:05,400 --> 00:32:08,280
Speaker 3: posted on Twitter. We were there. We'll have to take

691
00:32:08,320 --> 00:32:10,400
Speaker 3: their word for it, because that is not the time

692
00:32:10,440 --> 00:32:12,920
Speaker 3: their watches were showing. Because I did do that thing.

693
00:32:13,120 --> 00:32:14,920
Speaker 3: I zoomed in on her watch and it was up

694
00:32:14,960 --> 00:32:18,040
Speaker 3: there we go ten forty and his watch, oh yep,

695
00:32:18,480 --> 00:32:22,040
Speaker 3: similar So well, but that's entirely possible that the thing

696
00:32:22,080 --> 00:32:24,200
Speaker 3: did run for a couple of hours, because I'm told

697
00:32:24,200 --> 00:32:26,040
Speaker 3: that it rang. So maybe they took the selfie at

698
00:32:26,080 --> 00:32:28,040
Speaker 3: the start. I'm told that these are long meetings. They're

699
00:32:28,040 --> 00:32:30,760
Speaker 3: posted at the end. Here's an interesting thing, though, Chris

700
00:32:30,800 --> 00:32:34,720
Speaker 3: Luxen runs his watch five minutes early. So her watch

701
00:32:34,800 --> 00:32:36,840
Speaker 3: was saying twenty to eleven, but his watch was saying

702
00:32:36,880 --> 00:32:38,480
Speaker 3: quarter to eleven. And I don't know if you know that,

703
00:32:38,520 --> 00:32:39,920
Speaker 3: but a lot of successful people do that.

704
00:32:40,000 --> 00:32:41,400
Speaker 17: Well, I no, no, hang on a minute, either, if

705
00:32:41,440 --> 00:32:43,440
Speaker 17: were we don't know objectively what time it was. Maybe

706
00:32:43,520 --> 00:32:46,040
Speaker 17: Judith Collins just runs her watch fifteen minutes late.

707
00:32:46,400 --> 00:32:49,880
Speaker 3: Five five later because you did. Eerka is not proud

708
00:32:49,920 --> 00:32:55,640
Speaker 3: of you right now around fast okay anyway, So there

709
00:32:55,680 --> 00:32:57,320
Speaker 3: you go. They were there. That's the most important thing

710
00:32:57,360 --> 00:32:59,520
Speaker 3: to do. And if you can't figure out why successful

711
00:32:59,560 --> 00:33:01,200
Speaker 3: people run and they watch us five minutes earlier, we

712
00:33:01,200 --> 00:33:02,800
Speaker 3: can talk about it later on. Just let me know.

713
00:33:03,080 --> 00:33:07,680
Speaker 3: We'll talk to Christian Reserve Bank Governor Acting Governor. Next

714
00:33:07,680 --> 00:33:15,160
Speaker 3: News TALKSTB, the.

715
00:33:15,000 --> 00:33:17,520
Speaker 1: Only drive show you can try the truck to ask

716
00:33:17,560 --> 00:33:21,960
Speaker 1: the questions, get the answers, find a FA and give

717
00:33:22,000 --> 00:33:25,760
Speaker 1: the analysis. Here the duplicy Ellen Drive with One New

718
00:33:25,840 --> 00:33:30,640
Speaker 1: Zealand and the power of satellite Mobile News Talks v Afternoon.

719
00:33:30,680 --> 00:33:33,200
Speaker 3: The ocr has been cut. It's come down twenty five

720
00:33:33,240 --> 00:33:35,520
Speaker 3: basis points to three percent, and the new projection is

721
00:33:35,560 --> 00:33:37,360
Speaker 3: it'll be cut a couple more times to two and

722
00:33:37,400 --> 00:33:38,000
Speaker 3: a half percent.

723
00:33:38,040 --> 00:33:38,200
Speaker 1: Now.

724
00:33:38,200 --> 00:33:40,760
Speaker 3: The Reserve Bank thinks we're through the worst with the recession,

725
00:33:41,160 --> 00:33:43,440
Speaker 3: but didn't agree amongst themselves on how much to cut.

726
00:33:43,520 --> 00:33:46,240
Speaker 3: Most of the committee today voted for twenty five basis points,

727
00:33:46,240 --> 00:33:48,480
Speaker 3: but two of them voted for a double cut. Christian

728
00:33:48,520 --> 00:33:52,400
Speaker 3: Hawksby is the Acting Reserve Bank Governor High Christian good eight,

729
00:33:52,440 --> 00:33:54,160
Speaker 3: what makes you think that the worst is over.

730
00:33:56,680 --> 00:34:01,480
Speaker 9: Because we've got with lowered interest rates, it's a long

731
00:34:01,560 --> 00:34:04,120
Speaker 9: way now, we're sent out a pretty strong signal that

732
00:34:04,160 --> 00:34:07,240
Speaker 9: we're willing to lower them further as required.

733
00:34:07,320 --> 00:34:09,080
Speaker 15: We've got other drivers.

734
00:34:09,080 --> 00:34:12,840
Speaker 9: Of the economy like high commodity prices, and when you

735
00:34:12,960 --> 00:34:16,120
Speaker 9: add that all up, we think that Q two was

736
00:34:16,120 --> 00:34:18,840
Speaker 9: a bit of a blipping. With that support, we should

737
00:34:18,840 --> 00:34:20,920
Speaker 9: be coming out the other end around now.

738
00:34:21,120 --> 00:34:23,880
Speaker 3: How long before it feels better though, because I've been

739
00:34:23,920 --> 00:34:25,879
Speaker 3: speaking to some people who are in business who think

740
00:34:25,920 --> 00:34:28,120
Speaker 3: it might not be until the start of twenty seven.

741
00:34:29,719 --> 00:34:32,520
Speaker 9: And absolutely, you know, just acknowledge also that it's a

742
00:34:32,560 --> 00:34:35,480
Speaker 9: real two speed economy at the moment. And it does

743
00:34:35,600 --> 00:34:38,239
Speaker 9: depend on who you talk to what part of the country.

744
00:34:38,560 --> 00:34:41,560
Speaker 9: The regions are doing much better than the cities, particularly

745
00:34:41,960 --> 00:34:44,840
Speaker 9: Auckland and Wellington are doing it tough at the moment.

746
00:34:45,280 --> 00:34:48,240
Speaker 9: Some of the data is actually picking up in July,

747
00:34:49,239 --> 00:34:52,319
Speaker 9: so we are seeing some of that data pick up.

748
00:34:52,680 --> 00:34:56,879
Speaker 9: It might not feel like it's roaring through the middle

749
00:34:56,920 --> 00:34:58,719
Speaker 9: of this year, but by the end of this year

750
00:34:58,960 --> 00:35:00,840
Speaker 9: and into the beginning of next year, we think it

751
00:35:00,880 --> 00:35:01,720
Speaker 9: will okay.

752
00:35:01,920 --> 00:35:04,320
Speaker 3: Do you think you made a mistake not cutting in July.

753
00:35:06,200 --> 00:35:11,600
Speaker 9: No, we just you know, we're always reassessing the economy

754
00:35:11,880 --> 00:35:14,920
Speaker 9: and where things are at. We saw early signs that

755
00:35:14,960 --> 00:35:18,480
Speaker 9: things were faltering, and we sent a signal in July

756
00:35:18,640 --> 00:35:21,920
Speaker 9: that although we didn't cut, we were open to it.

757
00:35:21,960 --> 00:35:23,719
Speaker 3: Shouldn't you have I mean, if you could see that

758
00:35:23,760 --> 00:35:25,520
Speaker 3: things were faltering and you've cut now, you should have

759
00:35:25,560 --> 00:35:26,080
Speaker 3: cut in July.

760
00:35:28,080 --> 00:35:30,560
Speaker 9: The beauty of monetary policy is we meet every six

761
00:35:30,640 --> 00:35:34,360
Speaker 9: weeks and that means, you know, we can change course.

762
00:35:34,560 --> 00:35:39,440
Speaker 9: And we've changed course significantly. In August we'll put out

763
00:35:39,480 --> 00:35:43,920
Speaker 9: an OCR projection which is significantly down on May, and

764
00:35:43,960 --> 00:35:48,920
Speaker 9: that's really provided a strong signal that interest rates are

765
00:35:49,040 --> 00:35:51,440
Speaker 9: falling in there to support the economy.

766
00:35:51,600 --> 00:35:53,520
Speaker 3: Were you in the camp twenty five basis points or

767
00:35:53,520 --> 00:35:54,480
Speaker 3: fifty basis points.

768
00:35:55,600 --> 00:36:00,239
Speaker 9: We don't disclose who voted what, but as year of

769
00:36:00,239 --> 00:36:04,239
Speaker 9: the committee I speak to you know the outlock and

770
00:36:04,800 --> 00:36:07,840
Speaker 9: the risks and the where we landed collectively.

771
00:36:08,080 --> 00:36:10,000
Speaker 3: I think you've made a mistake not going for fifty.

772
00:36:10,200 --> 00:36:11,040
Speaker 3: Do you think I'm wrong?

773
00:36:13,360 --> 00:36:13,640
Speaker 2: Oh?

774
00:36:13,680 --> 00:36:16,080
Speaker 9: Look, we had two members who were in your camp

775
00:36:16,760 --> 00:36:20,560
Speaker 9: and their views were I think all of us acknowledged

776
00:36:20,600 --> 00:36:23,399
Speaker 9: that there is a lot of there's both upside and

777
00:36:23,480 --> 00:36:26,560
Speaker 9: downside risk around our central outlock.

778
00:36:26,680 --> 00:36:29,120
Speaker 3: Tell me risk, Christian, tell me what's the risk? And

779
00:36:29,160 --> 00:36:33,879
Speaker 3: having gone for fifty.

780
00:36:31,960 --> 00:36:37,239
Speaker 9: The risk is that Q two was an aberration, that

781
00:36:37,400 --> 00:36:40,439
Speaker 9: it's a bit of a blip the economy kicks on.

782
00:36:41,000 --> 00:36:45,440
Speaker 9: But also you've got to remember that inflation is rising

783
00:36:45,640 --> 00:36:49,000
Speaker 9: and we're projecting CPI inflation to be at three percent.

784
00:36:49,160 --> 00:36:50,960
Speaker 3: Yes, but you know that you need to look through

785
00:36:51,000 --> 00:36:53,960
Speaker 3: it because because what's happening to gold economy will bring

786
00:36:54,000 --> 00:36:55,120
Speaker 3: our inflation down again.

787
00:36:56,400 --> 00:36:59,120
Speaker 9: That yes, and you've got onto the argument for the fifty,

788
00:36:59,200 --> 00:37:02,719
Speaker 9: The argument do even no change is the risk?

789
00:37:02,960 --> 00:37:05,520
Speaker 3: No, never mind that I want you to tell me

790
00:37:05,600 --> 00:37:07,720
Speaker 3: why not fifty because fifty is obvious.

791
00:37:09,600 --> 00:37:12,600
Speaker 9: Two of our members voted for fifty and their view

792
00:37:12,760 --> 00:37:16,000
Speaker 9: was around, you know, providing that strong signal and getting

793
00:37:16,000 --> 00:37:19,759
Speaker 9: that kick start. The reason not to do fifty is

794
00:37:19,800 --> 00:37:23,279
Speaker 9: that by doing twenty five and signaling putting out a

795
00:37:23,320 --> 00:37:25,759
Speaker 9: forward track that actually puts interest rates down to two

796
00:37:25,840 --> 00:37:29,279
Speaker 9: and a half, we send out a strong signal, we

797
00:37:29,360 --> 00:37:32,560
Speaker 9: get market rates moving, which they have. Market rates have

798
00:37:32,680 --> 00:37:36,400
Speaker 9: lowered because we've surprised the markets today, and then we

799
00:37:36,440 --> 00:37:39,840
Speaker 9: meet in six weeks time and things will go bigger.

800
00:37:39,880 --> 00:37:42,960
Speaker 9: Running faster or slower than the central for just to that.

801
00:37:43,000 --> 00:37:44,760
Speaker 3: Here's the thing you're going to cut in six weeks,

802
00:37:44,840 --> 00:37:50,440
Speaker 3: so why not double cut today? This is a fighting

803
00:37:50,560 --> 00:37:54,440
Speaker 3: charms Christian. There are businesses falling over today because of

804
00:37:54,480 --> 00:37:55,239
Speaker 3: what is going on.

805
00:37:56,840 --> 00:37:59,719
Speaker 9: It feels different in different parts of the country. And

806
00:37:59,840 --> 00:38:02,239
Speaker 9: I think if we had we set interest rates for

807
00:38:02,320 --> 00:38:06,919
Speaker 9: Auckland and Auckland only, they'd probably be lower than where

808
00:38:06,960 --> 00:38:08,840
Speaker 9: we are. But we have to set interest rates for

809
00:38:09,000 --> 00:38:11,920
Speaker 9: the whole country. There are some parts of the country

810
00:38:11,920 --> 00:38:15,600
Speaker 9: that are doing quite well, and so we just have

811
00:38:15,719 --> 00:38:17,680
Speaker 9: to look at that an aggregate.

812
00:38:18,320 --> 00:38:19,960
Speaker 3: Christian. Thank you so much for your time and to

813
00:38:20,000 --> 00:38:22,799
Speaker 3: appreciate a Christian hawksby acting Reserve Bank Governor.

814
00:38:22,880 --> 00:38:25,360
Speaker 2: Heather du for see Ellen as you probably.

815
00:38:25,000 --> 00:38:26,880
Speaker 3: Know full well if you've got a teenager in the

816
00:38:26,880 --> 00:38:29,000
Speaker 3: house right now. The secondary school teachers have been on

817
00:38:29,040 --> 00:38:32,880
Speaker 3: strike today, picketing around the country, included outside Erica Stanford's office.

818
00:38:33,040 --> 00:38:35,600
Speaker 3: The PPTA president Chris Abercrombie has been out there to

819
00:38:35,640 --> 00:38:39,800
Speaker 3: and he's with us. Hello, christ in the teachers versus

820
00:38:39,920 --> 00:38:42,840
Speaker 3: Erica Stanford battle. I think that Erica probably wins the

821
00:38:42,840 --> 00:38:46,360
Speaker 3: public support. What do you think, Oh well.

822
00:38:46,239 --> 00:38:48,520
Speaker 18: I wouldn't say it's a battle, to be honest, I say,

823
00:38:48,920 --> 00:38:50,839
Speaker 18: we just want to make sure that we can get

824
00:38:50,840 --> 00:38:53,879
Speaker 18: the best for public education. Erica has come out and said,

825
00:38:53,880 --> 00:38:56,040
Speaker 18: you know, she wants a world class education system. We

826
00:38:56,080 --> 00:38:59,239
Speaker 18: want the same. So there's definitely common ground there, but

827
00:38:59,280 --> 00:39:00,760
Speaker 18: it's just about how we get to that space.

828
00:39:00,880 --> 00:39:02,759
Speaker 3: Okay, do you do you think I mean, it's been

829
00:39:02,760 --> 00:39:04,520
Speaker 3: a while now since you announced the strike, do you

830
00:39:04,560 --> 00:39:06,279
Speaker 3: think public have swung in behind you or not?

831
00:39:07,320 --> 00:39:07,440
Speaker 2: Oh?

832
00:39:07,560 --> 00:39:09,840
Speaker 18: Absolutely, we believe that. You know, we just needed to

833
00:39:09,840 --> 00:39:12,279
Speaker 18: see the support today. We had on various peckets, heaps

834
00:39:12,320 --> 00:39:15,320
Speaker 18: of two D in, heaps of on on online, heaps

835
00:39:15,320 --> 00:39:17,920
Speaker 18: in person. You know, parents know what we're doing and

836
00:39:17,920 --> 00:39:18,719
Speaker 18: we're not why are.

837
00:39:18,600 --> 00:39:21,160
Speaker 2: We're doing it? So we definitely think we've got the support.

838
00:39:21,480 --> 00:39:22,760
Speaker 3: Great, So when's the next strike?

839
00:39:23,920 --> 00:39:26,000
Speaker 18: Well, hopefully we won't need to have one, but we

840
00:39:26,040 --> 00:39:28,759
Speaker 18: do have some rostering home scheduled for the last week

841
00:39:28,800 --> 00:39:31,879
Speaker 18: of this term, the fifteenth of September onwards. We're really

842
00:39:31,920 --> 00:39:34,799
Speaker 18: hopeful we don't need to do that and that the

843
00:39:34,840 --> 00:39:37,320
Speaker 18: government comes to the party. We're meeting next week for bargaining,

844
00:39:37,960 --> 00:39:39,520
Speaker 18: so we're just really hopeful that we won't need to

845
00:39:39,560 --> 00:39:40,760
Speaker 18: do that industrial action.

846
00:39:40,680 --> 00:39:42,959
Speaker 3: Me too, Chris, Thank you very much. Chris Abercrombie a

847
00:39:42,960 --> 00:39:47,319
Speaker 3: PBTA president Heather due for c Ellen, the woman who

848
00:39:47,400 --> 00:39:49,640
Speaker 3: was in iced attention in the US, Sarah Shaw has

849
00:39:49,640 --> 00:39:51,520
Speaker 3: spoken for the first time since she was released over

850
00:39:51,520 --> 00:39:53,719
Speaker 3: the weekend. She was saying that she did everything to

851
00:39:53,719 --> 00:39:56,279
Speaker 3: try to cross the border legally. I spoke to my

852
00:39:56,320 --> 00:39:58,239
Speaker 3: attorney about it, and you know, she kind of said, like,

853
00:39:58,320 --> 00:40:01,680
Speaker 3: you'll be fine. Your PaperWorks all valid, so you know,

854
00:40:01,800 --> 00:40:03,680
Speaker 3: like I did. She's kind of like that would be

855
00:40:03,719 --> 00:40:06,440
Speaker 3: like worst case scenario, but I really kind of didn't

856
00:40:06,480 --> 00:40:08,720
Speaker 3: think that that was going to happen. Now, she reckons

857
00:40:08,760 --> 00:40:10,920
Speaker 3: that when she was released, she was basically let out

858
00:40:10,960 --> 00:40:13,080
Speaker 3: in the middle of Texas without her passport and with

859
00:40:13,120 --> 00:40:16,359
Speaker 3: an ankle bracelet on. She's been speaking to K five

860
00:40:16,400 --> 00:40:19,880
Speaker 3: News in Washington. I was like the minority in that situation.

861
00:40:20,120 --> 00:40:24,160
Speaker 3: Most of the people that were there spoke Spanish. Now

862
00:40:24,200 --> 00:40:25,839
Speaker 3: she's home safe at the moment. She still has more

863
00:40:25,880 --> 00:40:28,520
Speaker 3: court appearances though ahead of her, in order to do

864
00:40:28,600 --> 00:40:31,359
Speaker 3: things like get that ankle bracelet off, which she still

865
00:40:31,360 --> 00:40:33,640
Speaker 3: has on and the go fundme page, which was set

866
00:40:33,680 --> 00:40:35,759
Speaker 3: up by her best friend Victoria has got over one

867
00:40:35,880 --> 00:40:38,360
Speaker 3: hundred thousand New Zealand dollars in donations for her legal

868
00:40:38,360 --> 00:40:42,279
Speaker 3: fees fourteen past five. Hey, the old saying goes, you

869
00:40:42,280 --> 00:40:44,600
Speaker 3: should work smarter, not harder, right, But is your credit

870
00:40:44,640 --> 00:40:47,160
Speaker 3: card helping you do that too? With the American Express

871
00:40:47,200 --> 00:40:49,880
Speaker 3: Airpoints Platinum Card, you're not only going to get the

872
00:40:49,920 --> 00:40:52,719
Speaker 3: fastest airpoints dollar earning Platinum card in New Zealand, but

873
00:40:52,760 --> 00:40:56,239
Speaker 3: you could also earn three hundred bonus airpoints dollars. Now,

874
00:40:56,400 --> 00:40:58,200
Speaker 3: this means obviously getting to do the things that you

875
00:40:58,280 --> 00:41:00,400
Speaker 3: really want to do, but getting to do them so sooner,

876
00:41:00,719 --> 00:41:02,680
Speaker 3: like putting your feet up and enjoying the sunset on

877
00:41:02,719 --> 00:41:05,240
Speaker 3: a tropical island. Because when you have an American Express

878
00:41:05,239 --> 00:41:07,920
Speaker 3: Airpoints Platinum Card, you can be safe in the knowledge

879
00:41:07,960 --> 00:41:09,920
Speaker 3: that credit card is working harder for you even when

880
00:41:09,960 --> 00:41:12,600
Speaker 3: you're relaxing. So the only question left to ask is

881
00:41:12,880 --> 00:41:15,800
Speaker 3: do you want more holiday or less holiday? So apply

882
00:41:16,120 --> 00:41:19,200
Speaker 3: and be approved for the fastest airpoints dollar earning Platinum

883
00:41:19,200 --> 00:41:21,920
Speaker 3: card and you could earn yourself three hundred bonus airpoints

884
00:41:21,960 --> 00:41:26,640
Speaker 3: dollars search Amex Airpoints one five hundred dollars minimum spend

885
00:41:26,680 --> 00:41:28,720
Speaker 3: required in the first three months t's and c's apply

886
00:41:28,800 --> 00:41:32,560
Speaker 3: new card members only off a subject to change without notice.

887
00:41:32,880 --> 00:41:34,880
Speaker 2: Ever do for ce Ellen, I could.

888
00:41:34,680 --> 00:41:37,480
Speaker 3: Say we've got a huge financial reporting going on. We're

889
00:41:37,480 --> 00:41:39,759
Speaker 3: in the reporting season obviously with the listed Companies've got

890
00:41:39,760 --> 00:41:43,839
Speaker 3: Fletcher after six huge loss, and we've got Spark after

891
00:41:43,880 --> 00:41:45,319
Speaker 3: six thirty. And I'm going to run you through the

892
00:41:45,320 --> 00:41:48,239
Speaker 3: details of what's been reported before we get to them.

893
00:41:48,239 --> 00:41:51,200
Speaker 3: Eighteen past five right now. Now, ke We wool is

894
00:41:51,200 --> 00:41:52,960
Speaker 3: said to be used in the tennis balls for this

895
00:41:53,040 --> 00:41:56,400
Speaker 3: year's US Open. Nathan Watt is the commercial general manager

896
00:41:56,400 --> 00:41:58,680
Speaker 3: at the New Zealand Wall Services and with us. Hey, Nathan,

897
00:42:00,040 --> 00:42:01,799
Speaker 3: how are you well? Thank you? And now I thought

898
00:42:01,840 --> 00:42:03,560
Speaker 3: it was because wool our wool is light, but it's

899
00:42:03,560 --> 00:42:05,799
Speaker 3: actually because our wall is white, isn't it.

900
00:42:06,160 --> 00:42:09,920
Speaker 19: Yeah, certainly it's because our wall's white and clean from

901
00:42:10,000 --> 00:42:12,920
Speaker 19: vegetable matter. So yeah, our wall's the best in the

902
00:42:12,920 --> 00:42:14,920
Speaker 19: world for tennis balls, and that's why they buy it

903
00:42:14,920 --> 00:42:15,319
Speaker 19: from us.

904
00:42:15,440 --> 00:42:18,480
Speaker 3: So being super white means that it colors up really

905
00:42:18,600 --> 00:42:20,280
Speaker 3: nicely without any blemishes or anything.

906
00:42:20,760 --> 00:42:23,319
Speaker 15: One hundred percent. Absolutely, we've got the best colored wall

907
00:42:23,320 --> 00:42:25,480
Speaker 15: in the world for strong wool, so it's perfect for

908
00:42:25,520 --> 00:42:26,600
Speaker 15: tennis ball felt.

909
00:42:26,400 --> 00:42:28,359
Speaker 3: If you don't have white wool, like, what are other

910
00:42:28,400 --> 00:42:29,680
Speaker 3: people will looking like?

911
00:42:30,920 --> 00:42:34,000
Speaker 19: Well, it could be dark shades, it could contaminate with

912
00:42:34,040 --> 00:42:35,000
Speaker 19: black fiber.

913
00:42:34,960 --> 00:42:36,360
Speaker 15: Or yeah, it could.

914
00:42:36,120 --> 00:42:39,360
Speaker 19: Be quite a hard yellow which can't really dye fluorescent colors.

915
00:42:39,719 --> 00:42:42,800
Speaker 19: So New Zealand wolves just perfect for dyeing fluorescent colors.

916
00:42:42,800 --> 00:42:44,239
Speaker 3: And what were you saying before, what is it that

917
00:42:44,280 --> 00:42:45,640
Speaker 3: causes the wall to change color?

918
00:42:46,960 --> 00:42:49,960
Speaker 15: Well, different atmospheric conditions and breeds.

919
00:42:50,200 --> 00:42:53,239
Speaker 19: So New Zealand's perfect conditions for grown white wall, and

920
00:42:53,280 --> 00:42:56,080
Speaker 19: our breeds have been made for over one hundred years of.

921
00:42:56,040 --> 00:42:58,120
Speaker 15: Grown white wall, so it just suits perfectly.

922
00:42:58,320 --> 00:43:01,920
Speaker 3: Oh brilliant. Now it's one that I mean, it's wonderful

923
00:43:01,920 --> 00:43:03,600
Speaker 3: that that's being used for the bulls. But there's no

924
00:43:03,640 --> 00:43:05,759
Speaker 3: branding on the balls, right, so the average punter sitting

925
00:43:05,800 --> 00:43:07,200
Speaker 3: down does not know that that's a little bit of

926
00:43:07,200 --> 00:43:09,080
Speaker 3: New Zealand being smacked around the court, do they?

927
00:43:09,880 --> 00:43:10,080
Speaker 2: No?

928
00:43:10,160 --> 00:43:13,160
Speaker 19: Unfortunately not, Yeah, because if it's a blend of nylon

929
00:43:13,200 --> 00:43:14,000
Speaker 19: mam wall.

930
00:43:14,160 --> 00:43:15,680
Speaker 15: It's not really advertised as that.

931
00:43:16,400 --> 00:43:20,480
Speaker 19: But yeah, we're working with Tti and Wilson down the

932
00:43:20,520 --> 00:43:24,560
Speaker 19: supply chain to start marketing our natural fiber and their

933
00:43:24,560 --> 00:43:27,280
Speaker 19: credentials that Wall has to try and promote a tennis

934
00:43:27,320 --> 00:43:30,319
Speaker 19: ball as a natural product. So yeah, we're working with

935
00:43:30,360 --> 00:43:32,320
Speaker 19: that and we're doing some market research at the moment.

936
00:43:32,600 --> 00:43:34,400
Speaker 3: Brilliant stuff. Do you think as a result of it,

937
00:43:34,440 --> 00:43:37,880
Speaker 3: I mean, is it possible that they love the tennisbals

938
00:43:37,880 --> 00:43:39,359
Speaker 3: that they smack around the go jezon need to get

939
00:43:39,400 --> 00:43:41,120
Speaker 3: hold some of these tennis balls and suddenly all these

940
00:43:41,200 --> 00:43:44,200
Speaker 3: orders come in and you guys start selling heaps of wall.

941
00:43:45,600 --> 00:43:47,640
Speaker 15: Well, it's already a huge market already.

942
00:43:47,880 --> 00:43:50,200
Speaker 19: They tti used around about two hundre and a half

943
00:43:50,280 --> 00:43:53,399
Speaker 19: million kilos of the New Zealand war already, which sort

944
00:43:53,440 --> 00:43:55,680
Speaker 19: of equates around about two hundred and fifty million tennibals.

945
00:43:56,520 --> 00:44:00,239
Speaker 19: And that's growing dramatically in the last five years, the

946
00:44:00,280 --> 00:44:04,520
Speaker 19: growth of adult So look, it's ye one hundred percent.

947
00:44:04,600 --> 00:44:06,200
Speaker 2: The more the more demand the better.

948
00:44:06,600 --> 00:44:09,399
Speaker 19: But it's already pretty big demand. I'd say they buy

949
00:44:09,440 --> 00:44:11,040
Speaker 19: probably two or three percent of the New Zealand War

950
00:44:11,080 --> 00:44:11,640
Speaker 19: club already.

951
00:44:11,760 --> 00:44:13,759
Speaker 3: Brilliant. Hey, thank you very much, Nathan, appreciate it and

952
00:44:13,840 --> 00:44:16,280
Speaker 3: best of luck with everything. Nathan. What general manager Commercial

953
00:44:16,560 --> 00:44:19,360
Speaker 3: New Zealand Wall Services, Heather, I agree with you. The

954
00:44:19,400 --> 00:44:21,879
Speaker 3: Reserve Bank should have cut fifty basis points got relief

955
00:44:21,920 --> 00:44:25,440
Speaker 3: to household sooner. They are fully forecasting twenty five basis

956
00:44:25,440 --> 00:44:28,920
Speaker 3: points in October, but there's no key data, no CPI,

957
00:44:29,120 --> 00:44:31,600
Speaker 3: no labor market data ahead of the review, so they

958
00:44:31,640 --> 00:44:33,960
Speaker 3: need to just get on with it. What is interesting

959
00:44:34,200 --> 00:44:37,239
Speaker 3: is that they're basically saying the reason, while we've all

960
00:44:37,239 --> 00:44:39,400
Speaker 3: had these cuts, we're a huge number of cuts, haven't

961
00:44:39,400 --> 00:44:41,319
Speaker 3: we in the last wee world? What was it like

962
00:44:42,280 --> 00:44:44,560
Speaker 3: two point five percent or something like that. It's not

963
00:44:44,640 --> 00:44:47,120
Speaker 3: flowing through. So you're getting a little bit more money

964
00:44:47,120 --> 00:44:49,239
Speaker 3: in your back pocket, but you're not spending it. And

965
00:44:49,239 --> 00:44:51,600
Speaker 3: you're not spending it because where it's going now is

966
00:44:51,680 --> 00:44:54,319
Speaker 3: not out to restaurants, out to the movies, out to

967
00:44:54,320 --> 00:44:57,320
Speaker 3: buying yourself some new kicks. It's going into your rates.

968
00:44:57,880 --> 00:45:00,680
Speaker 3: So I feel like that was an of like that

969
00:45:00,840 --> 00:45:02,680
Speaker 3: was an obvious thing that they should have taken into

970
00:45:02,680 --> 00:45:04,520
Speaker 3: account that just because people have more money in their

971
00:45:04,520 --> 00:45:06,120
Speaker 3: back pocket doesn't mean they're going to spend it because

972
00:45:06,120 --> 00:45:07,759
Speaker 3: it's just gonna get sucked up by some other thing

973
00:45:07,920 --> 00:45:10,880
Speaker 3: that's basically acting the same as the ocars nowadays in

974
00:45:11,440 --> 00:45:14,600
Speaker 3: constraining how mate money you've got. Anyway, whatever they are

975
00:45:14,600 --> 00:45:17,919
Speaker 3: the ones with the economics degrees surprisingly five twenty two,

976
00:45:19,160 --> 00:45:19,880
Speaker 3: cutting through.

977
00:45:19,680 --> 00:45:21,240
Speaker 2: The noise to get the facts.

978
00:45:21,400 --> 00:45:24,359
Speaker 1: It's Heather do for cy Ellen Drive with one New

979
00:45:24,440 --> 00:45:27,440
Speaker 1: Zealand coverage like no one else's news talks.

980
00:45:27,440 --> 00:45:29,799
Speaker 3: They'd be Yeah, this guy's worse than the last one.

981
00:45:29,840 --> 00:45:31,879
Speaker 3: I think it's Christian is worse than Adrian. They didn't

982
00:45:31,880 --> 00:45:33,920
Speaker 3: surprise the market today. A five year old knows it

983
00:45:33,960 --> 00:45:36,399
Speaker 3: needed to be at least twenty five basis points. Thank you, Paul,

984
00:45:36,560 --> 00:45:39,960
Speaker 3: five twenty four. Now, obviously I have to disagree with

985
00:45:40,000 --> 00:45:42,879
Speaker 3: Hallan Clark's comments today that the departure of Jacinda dun

986
00:45:42,920 --> 00:45:46,160
Speaker 3: from politics is quote devastating for women around the world.

987
00:45:46,719 --> 00:45:48,400
Speaker 3: I suspect that there were quite a lot of women

988
00:45:48,440 --> 00:45:51,440
Speaker 3: in this country, especially in Auckland, who felt something closer

989
00:45:51,440 --> 00:45:54,680
Speaker 3: to relief when she announced her resignation. But what I

990
00:45:54,719 --> 00:45:57,600
Speaker 3: really disagree with Halen Clark on is the suggestion from

991
00:45:57,640 --> 00:46:00,319
Speaker 3: either her or the reporter of the story this and

992
00:46:00,360 --> 00:46:01,759
Speaker 3: it's really hard to know which one of them was

993
00:46:01,800 --> 00:46:04,640
Speaker 3: coming from, but the suggestion that just Cinda left because

994
00:46:04,680 --> 00:46:07,120
Speaker 3: people abused her because she was a woman, That is

995
00:46:07,160 --> 00:46:10,920
Speaker 3: not what happened. Jacinda was abused. I totally agree with that.

996
00:46:10,960 --> 00:46:13,120
Speaker 3: But it wasn't because she's a woman. It was because

997
00:46:13,120 --> 00:46:15,520
Speaker 3: of what she did and what she said and the

998
00:46:15,560 --> 00:46:19,640
Speaker 3: decisions that she made during unprecedented times and times that

999
00:46:19,680 --> 00:46:22,000
Speaker 3: affected our lives in a way that government has never

1000
00:46:22,040 --> 00:46:27,080
Speaker 3: affected our lives before, therefore making us feel things extremely intensely.

1001
00:46:27,440 --> 00:46:29,680
Speaker 3: I was listening the other day to something that came

1002
00:46:29,680 --> 00:46:32,360
Speaker 3: out of her mouth during COVID, and with the passing

1003
00:46:32,360 --> 00:46:34,640
Speaker 3: of time, I found it even more shocking than I

1004
00:46:34,680 --> 00:46:36,080
Speaker 3: did at the time that she said it, which is

1005
00:46:36,080 --> 00:46:38,799
Speaker 3: when she said single source of truth. I mean, with

1006
00:46:38,880 --> 00:46:42,400
Speaker 3: time that really hasn't aged well, that's even more bizarre

1007
00:46:42,480 --> 00:46:44,839
Speaker 3: and sinister than it was at the time. I think

1008
00:46:44,880 --> 00:46:46,680
Speaker 3: if she was a man who did all of the

1009
00:46:46,719 --> 00:46:48,319
Speaker 3: things that she did, she would have been just as

1010
00:46:48,360 --> 00:46:50,440
Speaker 3: harshly abused. I mean, just look at Boris Johnson in

1011
00:46:50,440 --> 00:46:53,640
Speaker 3: the UK. Here is the subject of ridicule over there

1012
00:46:53,680 --> 00:46:55,680
Speaker 3: for the way that he led during COVID. Look at

1013
00:46:55,680 --> 00:46:58,600
Speaker 3: Grant Robinson here is the subject of scorn, who doesn't

1014
00:46:58,600 --> 00:47:02,320
Speaker 3: give any interviews anymore about his book and the reason

1015
00:47:02,320 --> 00:47:04,360
Speaker 3: he scorned us for the way that he led during COVID.

1016
00:47:04,400 --> 00:47:06,840
Speaker 3: I would say that he's less hated than Jacinda, but

1017
00:47:06,920 --> 00:47:08,839
Speaker 3: that's probably a reflection of the fact that we saw

1018
00:47:08,920 --> 00:47:10,600
Speaker 3: less of him and she was the one fronting every

1019
00:47:10,600 --> 00:47:14,080
Speaker 3: single one PM press conference taking the glory during COVID.

1020
00:47:14,400 --> 00:47:15,920
Speaker 3: Now this is not to say that I think that

1021
00:47:16,000 --> 00:47:18,400
Speaker 3: Jacinda should be abused. I don't think that she should

1022
00:47:18,400 --> 00:47:20,279
Speaker 3: be abused to the extent that she has or at all.

1023
00:47:20,640 --> 00:47:22,120
Speaker 3: But I think a lot of this is actually in

1024
00:47:22,160 --> 00:47:24,440
Speaker 3: her hands. I think if she chose to appear publicly

1025
00:47:24,680 --> 00:47:27,920
Speaker 3: for the COVID inquiry and to be seen to take responsibility,

1026
00:47:27,960 --> 00:47:30,600
Speaker 3: and be seen to express sympathy and empathy and be

1027
00:47:30,719 --> 00:47:33,319
Speaker 3: seen to understand what people feel, I feel like the

1028
00:47:34,040 --> 00:47:36,239
Speaker 3: restorative justice element of that would lead a lot of

1029
00:47:36,239 --> 00:47:39,759
Speaker 3: people to forgive her. Perhaps, So it's really up to

1030
00:47:39,840 --> 00:47:42,799
Speaker 3: her in some ways as to how much of this continues.

1031
00:47:43,040 --> 00:47:45,600
Speaker 3: It's not because she's a woman that's a cop out.

1032
00:47:45,920 --> 00:47:47,839
Speaker 3: It's because she made tough calls, and many of them

1033
00:47:47,840 --> 00:47:49,719
Speaker 3: were bad calls, and she doesn't appear to be at

1034
00:47:49,719 --> 00:47:50,480
Speaker 3: all sorry for them.

1035
00:47:50,920 --> 00:47:52,120
Speaker 2: Heather Doos the ALM.

1036
00:47:52,440 --> 00:47:55,320
Speaker 3: Hey, if you were listening on Monday, you might have

1037
00:47:55,360 --> 00:47:57,000
Speaker 3: heard me read out a text to you saying that

1038
00:47:57,000 --> 00:47:59,279
Speaker 3: the Marui Gasfield and methodics are going to close in

1039
00:47:59,320 --> 00:48:00,000
Speaker 3: December next time.

1040
00:48:00,120 --> 00:48:00,279
Speaker 9: Year.

1041
00:48:00,600 --> 00:48:03,240
Speaker 3: Business Desk is now running a report along the same lines.

1042
00:48:03,680 --> 00:48:06,160
Speaker 3: Rumors they say have been circulating in the sector that

1043
00:48:06,200 --> 00:48:10,480
Speaker 3: decommissioning is imminent. Its operator OMV has confirmed a Business

1044
00:48:10,520 --> 00:48:13,120
Speaker 3: Desk that MAUI is approaching the end of its productive

1045
00:48:13,120 --> 00:48:15,960
Speaker 3: life and but that no decisions have been made on

1046
00:48:16,000 --> 00:48:19,480
Speaker 3: when the field would close. Some are saying early twenty

1047
00:48:19,600 --> 00:48:23,520
Speaker 3: twenty six, and as Business Desk says, this puts the

1048
00:48:23,520 --> 00:48:27,960
Speaker 3: country's precarious gas supply at even greater risks. So if

1049
00:48:27,960 --> 00:48:30,520
Speaker 3: you're on gas, boy, oh boy, do you need to

1050
00:48:30,560 --> 00:48:33,400
Speaker 3: start thinking fast about converting A News is next and

1051
00:48:33,400 --> 00:48:41,479
Speaker 3: then Winston on wanting to appear for the COVID inquiry iven.

1052
00:48:39,400 --> 00:48:47,320
Speaker 1: You hard questions, strong opinion here the duplicy Ellen drive

1053
00:48:47,640 --> 00:48:50,800
Speaker 1: with one New Zealand and the power of satellite mobile

1054
00:48:51,040 --> 00:48:55,839
Speaker 1: news talk said, be santasim Lios.

1055
00:48:57,360 --> 00:48:59,880
Speaker 3: Very well past.

1056
00:49:01,480 --> 00:49:01,879
Speaker 2: The time.

1057
00:49:02,560 --> 00:49:04,760
Speaker 3: We've got Huddle standing by and the boss of Fletcher

1058
00:49:04,880 --> 00:49:06,399
Speaker 3: is going to be with us after six o'clock. Talker

1059
00:49:06,480 --> 00:49:09,840
Speaker 3: through their numbers out today not good four hundred and

1060
00:49:09,880 --> 00:49:12,560
Speaker 3: twenty million dollar loss, worse than last year's loss. You

1061
00:49:12,640 --> 00:49:15,640
Speaker 3: want an interesting number, how about this one. Spark has

1062
00:49:15,760 --> 00:49:20,160
Speaker 3: cut about thirteen hundred full time employees. That is more

1063
00:49:20,280 --> 00:49:23,919
Speaker 3: people cut by one corporate than Nikola Willis and David

1064
00:49:23,960 --> 00:49:25,879
Speaker 3: Seymour have managed to cut from the public service, which

1065
00:49:25,880 --> 00:49:27,799
Speaker 3: at last count was about nine hundred and eighty four.

1066
00:49:28,160 --> 00:49:31,520
Speaker 3: Thirteen hundred versus nine hundred and eighty four. And remember,

1067
00:49:31,520 --> 00:49:34,640
Speaker 3: the public service has about sixty thousand, sixty three thousand people,

1068
00:49:35,040 --> 00:49:36,760
Speaker 3: so you can afford to lose quite a few. Spark

1069
00:49:36,880 --> 00:49:38,840
Speaker 3: is now down to about four thousand. But that's what

1070
00:49:39,000 --> 00:49:42,080
Speaker 3: happens when you're playing with your own money. Talk to

1071
00:49:42,280 --> 00:49:44,879
Speaker 3: the Spark CEO after six thirty. Right now, it's twenty

1072
00:49:44,920 --> 00:49:45,919
Speaker 3: four away from five.

1073
00:49:46,800 --> 00:49:51,280
Speaker 2: Heather duplicylen five from six. Sorry, Heather duplicylen.

1074
00:49:51,440 --> 00:49:54,320
Speaker 3: Tie that again, numbers, Okay, here we go. Winston Peters

1075
00:49:54,640 --> 00:49:57,600
Speaker 3: says he's writing to the COVID nineteen Royal Commission, volunteering

1076
00:49:57,640 --> 00:49:59,680
Speaker 3: to answer any questions they have in public and he's

1077
00:49:59,680 --> 00:50:03,560
Speaker 3: with us. Now, Hello Winston, Hello Winston. What could you

1078
00:50:03,680 --> 00:50:05,520
Speaker 3: tell them that they need to know given that you

1079
00:50:05,640 --> 00:50:07,799
Speaker 3: weren't in government in the period that they're looking at.

1080
00:50:10,160 --> 00:50:12,279
Speaker 20: Look, first of all, it's the right thing to do.

1081
00:50:12,960 --> 00:50:17,160
Speaker 20: Don't forget the public was promised transparent accountability and the

1082
00:50:17,239 --> 00:50:19,279
Speaker 20: inquiry was designed so that we don't make the same

1083
00:50:19,320 --> 00:50:21,839
Speaker 20: mistakes again and you can't hide behind lawyers and giving

1084
00:50:21,880 --> 00:50:25,239
Speaker 20: all sorts of excuses when in fact there should be accountability,

1085
00:50:25,320 --> 00:50:30,120
Speaker 20: transparency and getting to the public's trust so that they

1086
00:50:30,160 --> 00:50:32,680
Speaker 20: can have confidence that we've learned something from this experience.

1087
00:50:33,080 --> 00:50:35,120
Speaker 3: Look, I agree with you on all of that, but

1088
00:50:35,320 --> 00:50:37,440
Speaker 3: what can you tell them about that period that they

1089
00:50:37,520 --> 00:50:38,960
Speaker 3: need to know because you weren't in government.

1090
00:50:40,400 --> 00:50:42,680
Speaker 20: Yeah, but take the first inquiry they set up. I said,

1091
00:50:42,680 --> 00:50:44,920
Speaker 20: from the moment I thought it was a sham. I

1092
00:50:45,040 --> 00:50:48,200
Speaker 20: was de wut Prime Minister when the pandemic first started.

1093
00:50:48,920 --> 00:50:51,560
Speaker 20: The original query never even asked me to submit, and

1094
00:50:51,640 --> 00:50:54,160
Speaker 20: that's how shallow and pointed it was. And that's why

1095
00:50:54,280 --> 00:50:57,160
Speaker 20: we demanded and disagreed with the Act of National for

1096
00:50:57,280 --> 00:51:01,240
Speaker 20: a proper inquiry with public submissions and decision makers, including

1097
00:51:01,360 --> 00:51:02,320
Speaker 20: me appearing at it.

1098
00:51:03,280 --> 00:51:05,960
Speaker 3: So would you like this inquiry to just go slightly

1099
00:51:06,040 --> 00:51:08,400
Speaker 3: beyond its remit in its terms of reference and actually

1100
00:51:08,520 --> 00:51:10,920
Speaker 3: look back at the time when you were in government.

1101
00:51:12,160 --> 00:51:15,279
Speaker 20: Well, I'm very happy to do that. In oh most

1102
00:51:15,280 --> 00:51:18,920
Speaker 20: astonishing thing, the Deputy parymis at the time were not

1103
00:51:19,000 --> 00:51:22,879
Speaker 20: even asked. So there's something funny here and that's why

1104
00:51:23,000 --> 00:51:26,640
Speaker 20: we asked for a proper inquiry and we're volunteering it now.

1105
00:51:26,960 --> 00:51:31,040
Speaker 20: And even though at the time we were not in governments,

1106
00:51:31,239 --> 00:51:35,800
Speaker 20: nevertheless we were seriously part of watching this process and

1107
00:51:35,960 --> 00:51:39,719
Speaker 20: indeed ended up supporting those people who were protesting on

1108
00:51:39,880 --> 00:51:43,319
Speaker 20: the grounds of Parliament. In some cases had lost thirty

1109
00:51:43,400 --> 00:51:46,040
Speaker 20: five years of their job and the employment or their businesses.

1110
00:51:46,600 --> 00:51:48,640
Speaker 20: It was massive and I saw lawyers and doctors and

1111
00:51:48,640 --> 00:51:51,000
Speaker 20: norses of people there and they weren't going down a

1112
00:51:51,080 --> 00:51:53,200
Speaker 20: rabbit hole. They were demanding accountability.

1113
00:51:54,560 --> 00:51:56,960
Speaker 3: Do you regret any COVID decisions that you made?

1114
00:51:59,280 --> 00:52:02,200
Speaker 20: Look, I did get very soon to the piece, because

1115
00:52:02,239 --> 00:52:04,359
Speaker 20: I can tell you what happened. I was there one

1116
00:52:04,440 --> 00:52:07,360
Speaker 20: day and when I made a saben to the Australian

1117
00:52:07,400 --> 00:52:10,759
Speaker 20: media correcting something that they were running. It was the

1118
00:52:10,800 --> 00:52:16,320
Speaker 20: allegation supported by Disinta, dun and Bloomfield, that the COVID

1119
00:52:16,960 --> 00:52:19,920
Speaker 20: had got to New Zealand from a company called America

1120
00:52:19,960 --> 00:52:22,799
Speaker 20: hold Out of Melbourne, Australia. And the moment I heard

1121
00:52:22,840 --> 00:52:24,759
Speaker 20: I thought this has got to be fictitious. Because there

1122
00:52:24,800 --> 00:52:27,320
Speaker 20: were twolve hundred workers there and two had it, so

1123
00:52:27,400 --> 00:52:29,840
Speaker 20: they could have got it from the factory. Now, the

1124
00:52:29,920 --> 00:52:34,440
Speaker 20: point that held that and Bloomfield of Magan was that

1125
00:52:34,560 --> 00:52:37,719
Speaker 20: it came here by way of product. And this was

1126
00:52:37,719 --> 00:52:40,000
Speaker 20: an ugment. They maintained for three days against what I

1127
00:52:40,120 --> 00:52:46,239
Speaker 20: was saying, until the merry old head person rang up

1128
00:52:46,280 --> 00:52:48,320
Speaker 20: and said, excuse me, we haven't sent you any product

1129
00:52:48,360 --> 00:52:50,960
Speaker 20: before and a half months. Wow, you know what I mean?

1130
00:52:51,280 --> 00:52:52,600
Speaker 2: So what part of that regret?

1131
00:52:52,960 --> 00:52:54,920
Speaker 20: And the second part? And the second part was I'm

1132
00:52:54,960 --> 00:52:58,239
Speaker 20: sitting there and I'm hearing people giving absolute answers, and

1133
00:52:58,320 --> 00:53:01,719
Speaker 20: I thought they can't possibly Yeah, certain, they can't bossibly know?

1134
00:53:01,880 --> 00:53:02,880
Speaker 3: Why were they that certain?

1135
00:53:03,000 --> 00:53:03,320
Speaker 2: Was it was?

1136
00:53:03,360 --> 00:53:03,400
Speaker 21: It?

1137
00:53:03,719 --> 00:53:06,200
Speaker 3: Was it a deliberate attempt to mislead the public with

1138
00:53:06,320 --> 00:53:08,880
Speaker 3: providing them some sort of a cockonball story, or did

1139
00:53:08,880 --> 00:53:09,880
Speaker 3: they genuinely believe it?

1140
00:53:11,280 --> 00:53:14,560
Speaker 20: Well, you got two answers to your question. Either they

1141
00:53:14,600 --> 00:53:18,760
Speaker 20: were being deliberately deceptive or they were just being wantonly naive.

1142
00:53:19,200 --> 00:53:22,720
Speaker 3: Take your pick. Okay, Hey, you didn't really get Trevor

1143
00:53:22,760 --> 00:53:25,000
Speaker 3: back early, did you? I mean, if he's he's due

1144
00:53:25,000 --> 00:53:27,160
Speaker 3: to finish in January and he comes back in November.

1145
00:53:27,400 --> 00:53:28,520
Speaker 3: That's not really early, is it.

1146
00:53:30,600 --> 00:53:32,279
Speaker 20: Well, if you don't think four months earlier, I do.

1147
00:53:32,640 --> 00:53:34,720
Speaker 3: It's not four months. What are you talking about? December?

1148
00:53:34,880 --> 00:53:40,960
Speaker 3: That's only two months, three months early.

1149
00:53:41,160 --> 00:53:44,160
Speaker 20: It is not the full term at all. And there

1150
00:53:44,200 --> 00:53:46,920
Speaker 20: are others that I've extended their term for two more years.

1151
00:53:47,239 --> 00:53:49,759
Speaker 3: Why didn't you call him? Why didn't you call him back?

1152
00:53:50,000 --> 00:53:52,640
Speaker 3: Recall him much much earlier you've had, You've had almost

1153
00:53:52,640 --> 00:53:53,200
Speaker 3: two years.

1154
00:53:53,080 --> 00:53:56,480
Speaker 20: To do it, because you we've been making the claim

1155
00:53:56,560 --> 00:53:58,279
Speaker 20: at the very beginning that all of us being was

1156
00:53:58,480 --> 00:54:02,120
Speaker 20: vindictive as being Muldoon and here what's going way back when?

1157
00:54:02,160 --> 00:54:04,200
Speaker 20: I bet you can't remember that time because you won't burn.

1158
00:54:04,680 --> 00:54:07,239
Speaker 20: But I was, and I wasn't to be accused of

1159
00:54:07,320 --> 00:54:09,680
Speaker 20: that sort of behavior, and I thought, no, no, he

1160
00:54:09,760 --> 00:54:12,680
Speaker 20: should have offered his resignation to me from the go.

1161
00:54:12,800 --> 00:54:16,520
Speaker 3: Anyway, Okay, Winston, thank you. I appreciate your time. As always,

1162
00:54:16,520 --> 00:54:18,520
Speaker 3: Winston Peter's New Zealand First Leader.

1163
00:54:19,600 --> 00:54:23,400
Speaker 1: The Huddle with New Zealand Southeby's International Realty Unique Homes

1164
00:54:23,719 --> 00:54:24,640
Speaker 1: uniquely for you.

1165
00:54:25,440 --> 00:54:26,960
Speaker 3: On the Huddle with me this evening, we have Jordan

1166
00:54:27,000 --> 00:54:29,480
Speaker 3: Williams Taxpayers Union, Jack tame Q and I host host

1167
00:54:29,520 --> 00:54:33,040
Speaker 3: of Saturday Mornings on z B. Hello you too. I'm

1168
00:54:33,040 --> 00:54:34,840
Speaker 3: going to come back to Winston and all this stuff

1169
00:54:34,840 --> 00:54:36,719
Speaker 3: about COVID, But can I start with you, Jordan on

1170
00:54:36,719 --> 00:54:39,480
Speaker 3: the ocr Should the Reserve Bank have cut double today?

1171
00:54:41,880 --> 00:54:44,600
Speaker 19: Well, it's it's pretty clear that you know that the

1172
00:54:44,640 --> 00:54:47,440
Speaker 19: economy is in trouble and the government's in trouble on

1173
00:54:47,520 --> 00:54:50,520
Speaker 19: the economy. I don't know if you saw, but Nikola

1174
00:54:50,560 --> 00:54:54,120
Speaker 19: Willis made quite an extraordinary attack on the Taxpayer's Union

1175
00:54:54,160 --> 00:54:57,520
Speaker 19: for pointing out the blindly obvious, which is that spending

1176
00:54:57,960 --> 00:55:01,640
Speaker 19: is continues to increase, that is driving the cost of

1177
00:55:01,680 --> 00:55:04,480
Speaker 19: living and making as a huge anchor on the economy.

1178
00:55:04,960 --> 00:55:07,600
Speaker 19: And she had a big swipe at the Taxpayers Union,

1179
00:55:08,320 --> 00:55:11,320
Speaker 19: basically resorting to a left wing character sure that we want.

1180
00:55:11,200 --> 00:55:13,120
Speaker 15: Health in education, hospitals and.

1181
00:55:13,120 --> 00:55:17,120
Speaker 19: Schools cut, which is nonsense on stilts. She's clearly under

1182
00:55:17,200 --> 00:55:20,719
Speaker 19: real pressure and she cited instead, I wouldn't listen to.

1183
00:55:20,719 --> 00:55:22,239
Speaker 15: The taxpayers Union, listen to the Reserve Bank.

1184
00:55:22,280 --> 00:55:24,960
Speaker 19: The Reserve banks say we're going to cut spending in

1185
00:55:25,040 --> 00:55:27,919
Speaker 19: the future, tense, ignoring the fact that under Nikola Willis,

1186
00:55:28,000 --> 00:55:30,799
Speaker 19: it's almost as if she hasn't delivered to budgets. She's

1187
00:55:30,880 --> 00:55:34,279
Speaker 19: increased spending relative to Grant Robinson, relative to the size

1188
00:55:34,320 --> 00:55:37,240
Speaker 19: of the economy. She's clearly under real pressure.

1189
00:55:37,360 --> 00:55:39,879
Speaker 3: Yeah, I think so too, Jack. Should they have double cut?

1190
00:55:41,640 --> 00:55:44,160
Speaker 5: Well, I think if you look at the inflation numbers,

1191
00:55:44,280 --> 00:55:46,680
Speaker 5: I mean they are getting you know, if we go

1192
00:55:46,840 --> 00:55:50,759
Speaker 5: from the most recent inflation numbers, they're getting pretty high

1193
00:55:50,920 --> 00:55:53,440
Speaker 5: to the period within the target band. And let us

1194
00:55:53,480 --> 00:55:55,719
Speaker 5: not forget that the very first step that this new

1195
00:55:55,760 --> 00:55:58,880
Speaker 5: government took was to amend the Reserve Bank Act so

1196
00:55:58,960 --> 00:56:01,400
Speaker 5: that they would have the soul focused on keeping inflation.

1197
00:56:01,880 --> 00:56:04,239
Speaker 3: But they need to look through this, right and they

1198
00:56:04,400 --> 00:56:06,640
Speaker 3: know themselves. They need to look through this because inflation

1199
00:56:06,760 --> 00:56:08,120
Speaker 3: is going to come back because of what's going on

1200
00:56:08,239 --> 00:56:11,080
Speaker 3: in the economy, so that they should be.

1201
00:56:11,120 --> 00:56:11,520
Speaker 2: To come through.

1202
00:56:11,600 --> 00:56:14,040
Speaker 5: But at the moment, at the moment, it's at two

1203
00:56:14,040 --> 00:56:16,080
Speaker 5: point seven percent, and all you need is for a

1204
00:56:16,160 --> 00:56:20,240
Speaker 5: little shop through, you know, a tariff being fifteen percent

1205
00:56:20,360 --> 00:56:22,359
Speaker 5: rather than ten percent or something like that, and all

1206
00:56:22,400 --> 00:56:24,799
Speaker 5: of a sudden we start nudging north of the upper

1207
00:56:24,840 --> 00:56:27,000
Speaker 5: part of that band. And what is the result being

1208
00:56:27,080 --> 00:56:31,040
Speaker 5: been told to focus ruthlessly on inflation. So yeah, I mean,

1209
00:56:31,080 --> 00:56:33,920
Speaker 5: I think I can understand why they've know you know

1210
00:56:34,320 --> 00:56:36,960
Speaker 5: why the why the committee was split today, But I'm

1211
00:56:37,000 --> 00:56:38,839
Speaker 5: not surprised they went with twenty five points. I think

1212
00:56:38,840 --> 00:56:40,719
Speaker 5: the real question is going to be whether or not

1213
00:56:40,840 --> 00:56:43,200
Speaker 5: they cut it two more times, heaving into twenty twenty six,

1214
00:56:43,280 --> 00:56:46,600
Speaker 5: which is obviously not where they were expecting their last update.

1215
00:56:47,280 --> 00:56:51,040
Speaker 3: I reckon Jordan that the government should be getting quite

1216
00:56:51,320 --> 00:56:53,920
Speaker 3: nervous about where this economy is going and whether it

1217
00:56:54,000 --> 00:56:56,279
Speaker 3: actually starts feeling any better for us in the year's time.

1218
00:56:56,440 --> 00:56:59,839
Speaker 19: They are they are, I mean, the Jets just put

1219
00:57:00,080 --> 00:57:04,000
Speaker 19: put his finger on the point, which is that the government.

1220
00:57:04,120 --> 00:57:06,880
Speaker 19: Because the government hasn't followed through on its promises to

1221
00:57:06,960 --> 00:57:11,440
Speaker 19: get spending under control, it's kept inflation high, which means

1222
00:57:11,520 --> 00:57:15,160
Speaker 19: we can't get the necessarily low ocr that we need

1223
00:57:15,239 --> 00:57:19,560
Speaker 19: to get the economy back into shape. It's the it's

1224
00:57:19,640 --> 00:57:24,200
Speaker 19: a continuation of the sort of of the Durn Robinson

1225
00:57:24,320 --> 00:57:28,080
Speaker 19: era of simply thinking that jawbone in the economy, running

1226
00:57:28,120 --> 00:57:31,080
Speaker 19: a comm strategy is enough to get us back on track.

1227
00:57:31,520 --> 00:57:34,760
Speaker 19: You know, the work just hasn't been done. Look, I

1228
00:57:34,880 --> 00:57:37,840
Speaker 19: understand that, you know, politicians have to spin, but it's

1229
00:57:37,920 --> 00:57:41,000
Speaker 19: starting to turn into a little bit of Nikola Willis

1230
00:57:42,480 --> 00:57:46,320
Speaker 19: parallel universe where she claims to have cut spending and I,

1231
00:57:46,680 --> 00:57:49,360
Speaker 19: you know you rightly had her up on this and

1232
00:57:49,560 --> 00:57:51,760
Speaker 19: that they're getting the books into shape. Let's go through

1233
00:57:51,840 --> 00:57:54,520
Speaker 19: the fact she's spending more. We're borrowing more per day

1234
00:57:55,040 --> 00:57:58,480
Speaker 19: right now than when Grant Robinson left office, and we

1235
00:57:58,600 --> 00:58:02,000
Speaker 19: are actually markets determining. You look at our ten year

1236
00:58:02,040 --> 00:58:04,919
Speaker 19: bond rate, the costs of at cost of the crown.

1237
00:58:05,000 --> 00:58:09,240
Speaker 19: Despite our relatively low ocr we're paying now second only

1238
00:58:09,280 --> 00:58:11,919
Speaker 19: to the UK in terms of their ten year bond

1239
00:58:12,000 --> 00:58:12,800
Speaker 19: ten ye guilt rate.

1240
00:58:13,200 --> 00:58:15,200
Speaker 15: You know, the collacxons are going off.

1241
00:58:15,360 --> 00:58:17,800
Speaker 3: Yeah, I've got to take a break, but Jack, I

1242
00:58:17,880 --> 00:58:19,560
Speaker 3: want to get your take when we come back on

1243
00:58:19,640 --> 00:58:21,320
Speaker 3: how much trouble Nichol is in quarter two?

1244
00:58:22,400 --> 00:58:26,160
Speaker 1: The huddle with New Zealand Southeby's International Realty, the ones

1245
00:58:26,280 --> 00:58:27,720
Speaker 1: for unmasked results.

1246
00:58:28,240 --> 00:58:30,400
Speaker 3: Right, you're back with a huddle, Jack Tame Jordan Williams.

1247
00:58:30,480 --> 00:58:33,960
Speaker 3: Jack Hosking this morning said he would take Erica Stanford

1248
00:58:34,000 --> 00:58:34,760
Speaker 3: over Nikola Willis.

1249
00:58:34,800 --> 00:58:34,920
Speaker 7: Now.

1250
00:58:34,920 --> 00:58:37,160
Speaker 3: A year ago, Nikola Willis was the heir apparent. So

1251
00:58:37,280 --> 00:58:37,840
Speaker 3: what's happened?

1252
00:58:39,160 --> 00:58:43,440
Speaker 5: Ah, Well, the economy's not doing very well. Whereas I

1253
00:58:43,440 --> 00:58:45,520
Speaker 5: think the majority of New Zealander is probably look at

1254
00:58:45,680 --> 00:58:48,840
Speaker 5: Erica stanfords handling of the education portfolio and say that

1255
00:58:48,920 --> 00:58:51,680
Speaker 5: she's right on top of things at the moment, and

1256
00:58:51,840 --> 00:58:54,280
Speaker 5: that actually a lot of the reforms that she's proposing

1257
00:58:54,640 --> 00:58:55,600
Speaker 5: are long overdue.

1258
00:58:55,880 --> 00:58:57,800
Speaker 3: And how much trouble is she in? How much trouble

1259
00:58:57,840 --> 00:59:00,560
Speaker 3: is it because you realize that Chris just let me

1260
00:59:00,560 --> 00:59:03,200
Speaker 3: finish my quick You realize Chris Luction's fortunes are so

1261
00:59:03,480 --> 00:59:05,680
Speaker 3: tied to what MICHAELA. Willis is doing because the pair

1262
00:59:05,720 --> 00:59:07,240
Speaker 3: of them is said that they would get the economy

1263
00:59:07,240 --> 00:59:09,280
Speaker 3: back contract. So how much trouble is she personally in

1264
00:59:09,360 --> 00:59:09,840
Speaker 3: that position?

1265
00:59:10,480 --> 00:59:14,640
Speaker 5: Yeah, I mean I think that I think the entire

1266
00:59:14,680 --> 00:59:17,160
Speaker 5: government's fortunes rest on the state of the economy. And look,

1267
00:59:17,240 --> 00:59:19,240
Speaker 5: while things are dire at the moment, you have to

1268
00:59:19,280 --> 00:59:21,920
Speaker 5: say that over the next twelve months or so, on

1269
00:59:22,040 --> 00:59:25,000
Speaker 5: the balance of probabilities, even though I don't think our

1270
00:59:25,040 --> 00:59:28,120
Speaker 5: economy is going to be absolutely singing in twelve time,

1271
00:59:28,200 --> 00:59:31,800
Speaker 5: on the balance of probabilities, we probably will have turned

1272
00:59:31,880 --> 00:59:34,680
Speaker 5: a bit of a corner. At the very least, sentiment

1273
00:59:34,840 --> 00:59:36,560
Speaker 5: is likely to be a little more positive than it

1274
00:59:36,680 --> 00:59:39,880
Speaker 5: is today. That probably August well for Nicola Willis. I

1275
00:59:40,000 --> 00:59:41,840
Speaker 5: think if they were shack things up before the election

1276
00:59:41,960 --> 00:59:44,440
Speaker 5: and mover out of the finance portfolio, that would be

1277
00:59:44,560 --> 00:59:48,040
Speaker 5: seen as a bit of panic station. But yeah, I mean,

1278
00:59:48,280 --> 00:59:51,160
Speaker 5: you know, all you need is for things to not

1279
00:59:51,480 --> 00:59:53,840
Speaker 5: turn around. I mean, I think that they've been surprised

1280
00:59:53,920 --> 00:59:56,439
Speaker 5: at how long it has taken to turn this bus,

1281
00:59:56,680 --> 00:59:58,400
Speaker 5: and yeah, who knows where it's going to go over

1282
00:59:58,400 --> 00:59:59,280
Speaker 5: the next six month or time.

1283
01:00:00,480 --> 01:00:03,080
Speaker 3: That business with Winston wanting to appear before the COVID

1284
01:00:03,080 --> 01:00:04,440
Speaker 3: inquiry is just a stunt, isn't it.

1285
01:00:06,360 --> 01:00:08,200
Speaker 19: Yeah, But I mean it's it's a relatively good one.

1286
01:00:09,440 --> 01:00:12,000
Speaker 19: You've been reading that I was going to say reading

1287
01:00:12,040 --> 01:00:14,480
Speaker 19: the tea leaves, but that Brax's reading the taxpas with

1288
01:00:14,880 --> 01:00:17,240
Speaker 19: the snappole that we did carried by the Herald on

1289
01:00:17,240 --> 01:00:21,520
Speaker 19: the weekend that actually even even labor voters think it's

1290
01:00:21,600 --> 01:00:26,800
Speaker 19: wrong for our the decision makers for what were the

1291
01:00:26,880 --> 01:00:30,160
Speaker 19: most significant public policy decisions in our lifetime, not to

1292
01:00:30,520 --> 01:00:34,480
Speaker 19: front up this sort of weird approach, that sort of

1293
01:00:35,160 --> 01:00:39,080
Speaker 19: a private behind closed or courts and some decision provide

1294
01:00:39,120 --> 01:00:41,880
Speaker 19: the public accountability. Well, on that basis, we wouldn't have

1295
01:00:41,960 --> 01:00:44,720
Speaker 19: public access to courts. I don't know about you heither,

1296
01:00:44,760 --> 01:00:46,680
Speaker 19: but I want to hear There's lots of questions I

1297
01:00:46,800 --> 01:00:50,200
Speaker 19: want here, and not just a report on I want

1298
01:00:50,240 --> 01:00:52,240
Speaker 19: to hear them answer to judge for myself and I

1299
01:00:52,320 --> 01:00:54,120
Speaker 19: think for you know, I'm not a you know, I'm

1300
01:00:54,160 --> 01:00:56,240
Speaker 19: not a COVID cooker, but you know, I mean, for

1301
01:00:56,480 --> 01:00:59,840
Speaker 19: for a lot of his Islanders, this really impacted their

1302
01:01:00,920 --> 01:01:02,680
Speaker 19: I don't mean to we did to disrespectful on that,

1303
01:01:02,760 --> 01:01:06,280
Speaker 19: but you know, it impacted the confidence and institutions, and

1304
01:01:06,400 --> 01:01:09,080
Speaker 19: there is a public good in having and even if

1305
01:01:09,160 --> 01:01:13,760
Speaker 19: everything was justified, we should be a mature democracy that

1306
01:01:14,520 --> 01:01:17,800
Speaker 19: does require our leaders to front up. I think it's

1307
01:01:18,680 --> 01:01:22,360
Speaker 19: a real failing on the commissioners on this for not

1308
01:01:22,400 --> 01:01:25,320
Speaker 19: actually understanding what the job is. This idea that well,

1309
01:01:25,360 --> 01:01:28,680
Speaker 19: we don't want it to turn adversarial or political. Really yeah,

1310
01:01:28,680 --> 01:01:32,320
Speaker 19: well politics, there's the accountability mechanism here.

1311
01:01:32,600 --> 01:01:34,040
Speaker 3: I agree. What do you think, Jack.

1312
01:01:35,440 --> 01:01:38,040
Speaker 5: Well, I'm reading a press release from New Zealand. First,

1313
01:01:38,320 --> 01:01:42,600
Speaker 5: when the when the Phase two of the COVID inquiry

1314
01:01:42,760 --> 01:01:45,520
Speaker 5: was announced, at which point you might remember they invoked

1315
01:01:45,560 --> 01:01:48,040
Speaker 5: the agree to disagree clause. So what New Zealand first

1316
01:01:48,120 --> 01:01:51,280
Speaker 5: wanted was for the first phase to be scrapped and expanded.

1317
01:01:52,520 --> 01:01:54,840
Speaker 5: In reading this press release, they do say they support

1318
01:01:55,280 --> 01:01:58,040
Speaker 5: the Phase two of the second of the of the

1319
01:01:58,280 --> 01:02:00,720
Speaker 5: Commission of Inquiry, which is interesting because, of course the

1320
01:02:00,800 --> 01:02:04,919
Speaker 5: Phase two terms of reference explicitly stated that it would

1321
01:02:04,960 --> 01:02:07,720
Speaker 5: be the period from February twenty twenty one. I mean,

1322
01:02:07,800 --> 01:02:11,000
Speaker 5: I think both of the phases of the COVID Inquiry

1323
01:02:11,040 --> 01:02:13,400
Speaker 5: have been imperfect. I think the first phase had two

1324
01:02:13,480 --> 01:02:15,240
Speaker 5: narrow terms of reference. I think there are a couple

1325
01:02:15,280 --> 01:02:19,400
Speaker 5: of vital things, including vaccine efficacy and monetary policy, that

1326
01:02:19,440 --> 01:02:21,320
Speaker 5: should have been considered in the first phase. And the

1327
01:02:21,400 --> 01:02:24,120
Speaker 5: second phase, I think it's just a continuation of the

1328
01:02:24,160 --> 01:02:26,920
Speaker 5: politicization of all of this, and that if you really

1329
01:02:27,040 --> 01:02:31,000
Speaker 5: wanted an earnest accounting for the COVID decisions, and I

1330
01:02:31,040 --> 01:02:32,000
Speaker 5: think we all deserve it.

1331
01:02:32,040 --> 01:02:32,520
Speaker 15: I think it's a.

1332
01:02:32,520 --> 01:02:36,360
Speaker 5: Missed opportunity for politicians not to be fronting publicly this

1333
01:02:36,480 --> 01:02:39,560
Speaker 5: time around. But if you really wanted a sincere accounting

1334
01:02:39,640 --> 01:02:42,440
Speaker 5: for those decisions, surely you go from the start of

1335
01:02:42,480 --> 01:02:43,640
Speaker 5: the pandemic, wouldn't you.

1336
01:02:44,040 --> 01:02:45,640
Speaker 15: So you know, for ws and.

1337
01:02:45,640 --> 01:02:48,360
Speaker 5: Peters to say, oh, look, I'm prepared to appear before it.

1338
01:02:48,520 --> 01:02:49,360
Speaker 9: Well, that's well and.

1339
01:02:49,400 --> 01:02:52,120
Speaker 5: Good, but he was a private citizen. He wasn't a

1340
01:02:52,160 --> 01:02:55,680
Speaker 5: member of parliament during the period. The second phase is consideringly.

1341
01:02:55,080 --> 01:02:57,240
Speaker 3: Any of us could just appear and do the same thing. Hey, guys,

1342
01:02:57,280 --> 01:02:59,600
Speaker 3: thank you as always appreciated. Jack Tame, Jordan Williams A

1343
01:02:59,680 --> 01:03:00,880
Speaker 3: huddle eight away from six.

1344
01:03:01,960 --> 01:03:05,200
Speaker 1: It's the Heather Duper c Allen Drive Full Show podcast

1345
01:03:05,320 --> 01:03:08,080
Speaker 1: on my Art Radio powered by News Talk ZB.

1346
01:03:10,000 --> 01:03:12,200
Speaker 3: Heather, have you forgotten already about the interview that you

1347
01:03:12,320 --> 01:03:16,440
Speaker 3: had yesterday with the HSBC economist. His view of the

1348
01:03:16,480 --> 01:03:18,800
Speaker 3: economy going forward was positive compared to the doom and

1349
01:03:18,840 --> 01:03:21,080
Speaker 3: gloom that you were proposing. Now, that is that is fair?

1350
01:03:21,360 --> 01:03:24,040
Speaker 3: That is fair. He did actually have a reasonably a

1351
01:03:24,120 --> 01:03:26,520
Speaker 3: reasonably positive outlook on it, and he's actually been pretty

1352
01:03:26,960 --> 01:03:28,840
Speaker 3: he's been pretty bullish on it the whole way through.

1353
01:03:31,000 --> 01:03:34,120
Speaker 3: I think it is going to get better. What I'm

1354
01:03:34,120 --> 01:03:36,120
Speaker 3: trying to say is, I don't know that it's going

1355
01:03:36,200 --> 01:03:40,400
Speaker 3: to be like yay woo, break out the party. Let's

1356
01:03:40,760 --> 01:03:42,840
Speaker 3: we're all making heap of my knee by this time

1357
01:03:42,880 --> 01:03:45,280
Speaker 3: next year. I think it's just better, right, and better off.

1358
01:03:45,320 --> 01:03:47,000
Speaker 3: A low base is really not but I'll tell you what.

1359
01:03:47,360 --> 01:03:51,120
Speaker 3: Let's ask Andrew who is the boss of Andrew Reading,

1360
01:03:51,320 --> 01:03:53,320
Speaker 3: who's the boss of Fletcher. He's going to be with

1361
01:03:53,440 --> 01:03:55,440
Speaker 3: us next he and he's a guy out there doing

1362
01:03:55,480 --> 01:03:57,720
Speaker 3: the business and as finding it a grind at the minute,

1363
01:03:57,720 --> 01:03:59,160
Speaker 3: and he can give us his take. He actually is

1364
01:03:59,200 --> 01:04:01,040
Speaker 3: an expert on what's going on with the economy, so

1365
01:04:01,200 --> 01:04:03,680
Speaker 3: we'll find out from him. Now. Somebody has made a

1366
01:04:03,720 --> 01:04:05,840
Speaker 3: game online where you can beat up Chris Bishop. It's

1367
01:04:05,840 --> 01:04:08,360
Speaker 3: five to six by the way, So there is a

1368
01:04:08,440 --> 01:04:11,320
Speaker 3: backstory to this. It's by a lot called Live Wellington,

1369
01:04:11,680 --> 01:04:13,720
Speaker 3: and they're angry with Chris Bishop and accusing him of

1370
01:04:13,800 --> 01:04:16,720
Speaker 3: overreach because he's toasted all the character areas in Wellington.

1371
01:04:16,720 --> 01:04:18,760
Speaker 3: Do you know how gone through and just done that

1372
01:04:18,800 --> 01:04:21,040
Speaker 3: and been like get rid of those villas, build some

1373
01:04:21,200 --> 01:04:23,640
Speaker 3: apartment blocks or whatever. They're not happy about it, so

1374
01:04:23,760 --> 01:04:25,720
Speaker 3: they took a judicial review and they lost in the

1375
01:04:25,800 --> 01:04:27,600
Speaker 3: High Court and as a result of that, they now

1376
01:04:27,720 --> 01:04:30,720
Speaker 3: owe the Crown and Wellington City Council about forty thousand dollars.

1377
01:04:31,120 --> 01:04:35,000
Speaker 3: So they've set up this, they've set up this game.

1378
01:04:35,480 --> 01:04:38,040
Speaker 3: They've made this game to try to raise money. So

1379
01:04:38,240 --> 01:04:41,360
Speaker 3: the game is basically it's called Beat the Bish and

1380
01:04:41,840 --> 01:04:43,880
Speaker 3: you go on you go to it Beat Thebish dot

1381
01:04:43,960 --> 01:04:46,440
Speaker 3: co dot nz and when you get in there you

1382
01:04:46,520 --> 01:04:48,200
Speaker 3: get to choose a character, and you've got a bunch

1383
01:04:48,240 --> 01:04:51,000
Speaker 3: of characters you could choose. There's an environmentalist. These are

1384
01:04:51,000 --> 01:04:53,640
Speaker 3: all people who will be angry with Chris Bishop. An environmentalist,

1385
01:04:54,000 --> 01:04:56,480
Speaker 3: a cyclist who looks just like shades of Julie and

1386
01:04:56,600 --> 01:04:59,680
Speaker 3: Jena in that character. There is a homeowner, elderly couples

1387
01:04:59,680 --> 01:05:02,880
Speaker 3: standing outside of home. You've got the Tett supporter who

1388
01:05:03,000 --> 01:05:05,760
Speaker 3: was just Stan Walker right because of what happened at

1389
01:05:05,760 --> 01:05:08,240
Speaker 3: the concert. And then you've got the Gordon Wilson flats.

1390
01:05:08,400 --> 01:05:10,480
Speaker 3: You can choose any of these characters. And then when

1391
01:05:10,520 --> 01:05:13,600
Speaker 3: you play the game, Bish's head comes at you like

1392
01:05:13,920 --> 01:05:16,360
Speaker 3: little cannonballs from the side of the screen and you

1393
01:05:16,520 --> 01:05:18,760
Speaker 3: have to hip the head before it reaches you. And

1394
01:05:18,800 --> 01:05:20,680
Speaker 3: you've got a number of implements that you can throw

1395
01:05:20,760 --> 01:05:23,200
Speaker 3: at the head. You've got the treaty, You've got a

1396
01:05:23,240 --> 01:05:25,720
Speaker 3: coffee cup. You've got a pie because he loves a pie.

1397
01:05:26,000 --> 01:05:28,120
Speaker 3: You've got a ballot booth, you've got a cricket bat

1398
01:05:28,120 --> 01:05:30,400
Speaker 3: because he loves cricket. And then you've got Don mcglashan's head,

1399
01:05:30,840 --> 01:05:33,440
Speaker 3: and because Don mclashon called him a dick. Remember, so

1400
01:05:33,600 --> 01:05:35,720
Speaker 3: you throw them at Chris Bishop and you fire away

1401
01:05:35,800 --> 01:05:37,440
Speaker 3: his head and if any of the heads touched you,

1402
01:05:37,800 --> 01:05:40,480
Speaker 3: then you lose the game. It is repetitive and boring,

1403
01:05:40,760 --> 01:05:44,080
Speaker 3: but there is something fun. There is something weirdly fun

1404
01:05:44,120 --> 01:05:46,360
Speaker 3: about heading the head of a politician or a cricket

1405
01:05:46,400 --> 01:05:48,720
Speaker 3: bat in a game. So go ahead, go and do it.

1406
01:05:48,800 --> 01:05:50,760
Speaker 3: Beat the bush dot co dot in his head. By

1407
01:05:50,800 --> 01:05:54,400
Speaker 3: the way, I've been saying Robertson's book, you know how

1408
01:05:54,520 --> 01:05:57,320
Speaker 3: Grant and just Senda rarely hate David Cunliff and Grant

1409
01:05:57,400 --> 01:05:59,880
Speaker 3: Robertson's the extract from the book that I read was

1410
01:06:00,120 --> 01:06:03,120
Speaker 3: that interesting about David Cunliff, and it certainly wasn't worth

1411
01:06:03,160 --> 01:06:05,760
Speaker 3: getting the lawyers out for. But now I'm reading from

1412
01:06:05,800 --> 01:06:08,680
Speaker 3: Steve Braunius that, in fact, in another part of the book,

1413
01:06:08,720 --> 01:06:11,200
Speaker 3: he claims that David Cunliff pushed the line that Labour

1414
01:06:11,240 --> 01:06:14,720
Speaker 3: could not have a gay leader, was not burdened with modesty,

1415
01:06:14,800 --> 01:06:18,040
Speaker 3: had no eq created an atmosphere that Grant describes as

1416
01:06:18,080 --> 01:06:20,080
Speaker 3: toxic and blah blah blah blah blah, but I think

1417
01:06:20,120 --> 01:06:24,040
Speaker 3: that that accuses Condliff of spreading the line that Labour

1418
01:06:24,080 --> 01:06:25,960
Speaker 3: could not have a gay leader. That feels like the

1419
01:06:26,040 --> 01:06:28,520
Speaker 3: one that probably the lawyers had to look at anyway.

1420
01:06:29,120 --> 01:06:31,040
Speaker 3: Fletcher Building bos next News talks, he'd be.

1421
01:06:36,160 --> 01:06:39,720
Speaker 1: A person over again.

1422
01:06:41,680 --> 01:06:45,760
Speaker 2: Was us down? What were the major cause? And how

1423
01:06:45,800 --> 01:06:47,080
Speaker 2: will it affect the economy?

1424
01:06:47,560 --> 01:06:52,200
Speaker 1: The big business questions on the Business Hour with Heather Duplicy,

1425
01:06:52,240 --> 01:06:56,280
Speaker 1: Allen and Mas for Trusted Home Insurance Solutions Used.

1426
01:06:56,120 --> 01:06:56,680
Speaker 2: Talks d be.

1427
01:07:00,080 --> 01:07:02,080
Speaker 3: Coming up in the next hour. We'll get market reaction

1428
01:07:02,200 --> 01:07:04,840
Speaker 3: to the OCR cut today from Milford Asset Management. Spark

1429
01:07:04,880 --> 01:07:07,000
Speaker 3: will talk us through their full year results. Gavin Gray

1430
01:07:07,120 --> 01:07:09,960
Speaker 3: will do the UK for US seven past six now

1431
01:07:10,040 --> 01:07:12,800
Speaker 3: things have unfortunately gone from bad to worse for Fletcher Building.

1432
01:07:12,880 --> 01:07:15,160
Speaker 3: The company announced a net loss of nearly four hundred

1433
01:07:15,160 --> 01:07:17,480
Speaker 3: and twenty million dollars for the year, worse than last

1434
01:07:17,560 --> 01:07:19,920
Speaker 3: year's two hundred and twenty seven million dollar loss. No

1435
01:07:20,080 --> 01:07:22,920
Speaker 3: dividend will be paid. The company today announced it's looking

1436
01:07:23,000 --> 01:07:25,240
Speaker 3: to indicate it rather it's looking to sell off both

1437
01:07:25,320 --> 01:07:29,160
Speaker 3: its construction but also its residential and development operations. Andrew

1438
01:07:29,200 --> 01:07:33,320
Speaker 3: Reading is the Fletcher Building Managing director and CEO. Hey Andrew, Hi,

1439
01:07:33,440 --> 01:07:35,000
Speaker 3: how are you. Yeah, I'm very well, thank you.

1440
01:07:35,160 --> 01:07:38,959
Speaker 22: Tough year, Yes, the markets have not been kind.

1441
01:07:40,200 --> 01:07:40,680
Speaker 3: How tough?

1442
01:07:42,320 --> 01:07:45,360
Speaker 22: Ah, this would be the worst we've sent since the GFC,

1443
01:07:46,520 --> 01:07:50,120
Speaker 22: and that's in Australia and New Zealand. It's highly unusual

1444
01:07:50,160 --> 01:07:54,480
Speaker 22: when you get both your residential infrastructure and commercial market

1445
01:07:54,600 --> 01:07:58,120
Speaker 22: segments all crashing down at the same time, and that's

1446
01:07:58,160 --> 01:07:59,760
Speaker 22: happened in both of the geographies.

1447
01:08:00,040 --> 01:08:04,560
Speaker 3: As bad as the GFC, or worse then worse than Okay,

1448
01:08:04,800 --> 01:08:07,120
Speaker 3: what because I'm trying to get a handle on how

1449
01:08:07,160 --> 01:08:08,920
Speaker 3: bad this thing is that we have come through, or

1450
01:08:09,080 --> 01:08:11,480
Speaker 3: hopefully are coming through. How far back in your mind

1451
01:08:11,560 --> 01:08:13,960
Speaker 3: do you have to go to find a comparable tough period.

1452
01:08:15,280 --> 01:08:21,200
Speaker 22: Oh, you're taking me back to this the recessions of

1453
01:08:21,280 --> 01:08:25,639
Speaker 22: their late eighties. I mean it is really tough. Yeah,

1454
01:08:26,160 --> 01:08:29,960
Speaker 22: and I don't think we appreciate quite how hard the

1455
01:08:30,080 --> 01:08:32,000
Speaker 22: man on the street is doing it at the moment, do.

1456
01:08:32,040 --> 01:08:32,400
Speaker 3: You think so?

1457
01:08:33,280 --> 01:08:33,479
Speaker 7: Yeah?

1458
01:08:33,479 --> 01:08:34,240
Speaker 2: I agreed, Yeah.

1459
01:08:34,240 --> 01:08:35,439
Speaker 3: What what makes you think then?

1460
01:08:36,680 --> 01:08:40,360
Speaker 22: Ah, Well, you don't see people walking around with smiling

1461
01:08:40,400 --> 01:08:43,360
Speaker 22: and spending a lot of money these days though, I

1462
01:08:43,439 --> 01:08:45,760
Speaker 22: think I think people are scrubbling for every penny they

1463
01:08:45,840 --> 01:08:49,400
Speaker 22: can get. And I think let's go back to the

1464
01:08:49,479 --> 01:08:52,160
Speaker 22: interest rate drops we saw at the end of last

1465
01:08:52,240 --> 01:08:54,760
Speaker 22: year that created a bit of a lift in foot

1466
01:08:54,800 --> 01:08:59,000
Speaker 22: traffic for example through our residential and Development division, a

1467
01:08:59,080 --> 01:09:01,439
Speaker 22: bit of a lift. But come early this year that's

1468
01:09:01,479 --> 01:09:02,439
Speaker 22: all well just fizzled out.

1469
01:09:03,080 --> 01:09:04,880
Speaker 3: Yeah, I think you might be right. Now, Look, how

1470
01:09:04,880 --> 01:09:06,639
Speaker 3: are you going with the sale of Fletcher Construction.

1471
01:09:08,439 --> 01:09:11,000
Speaker 22: So we're in a process and we've had some approaches

1472
01:09:11,120 --> 01:09:15,639
Speaker 22: from interested parties and we're just working our way through

1473
01:09:16,120 --> 01:09:22,439
Speaker 22: discussing with them how serious their interest is. And there's

1474
01:09:22,479 --> 01:09:26,960
Speaker 22: a larger number of them than we'd originally expected. But yes,

1475
01:09:27,080 --> 01:09:28,519
Speaker 22: it's going, it's going along.

1476
01:09:29,520 --> 01:09:32,519
Speaker 3: And are you serious about selling residential and development or

1477
01:09:32,600 --> 01:09:33,840
Speaker 3: just kind of kicking the tires on it.

1478
01:09:35,080 --> 01:09:37,880
Speaker 22: So we haven't made that decision yet. So we're doing

1479
01:09:37,920 --> 01:09:41,040
Speaker 22: a strategic review of it, which is about finding out

1480
01:09:41,080 --> 01:09:44,760
Speaker 22: what options we have with the division. So that may

1481
01:09:45,280 --> 01:09:47,760
Speaker 22: result in some divestment options or.

1482
01:09:47,760 --> 01:09:48,120
Speaker 5: It may not.

1483
01:09:48,960 --> 01:09:50,680
Speaker 3: If you do go ahead with it, well what does

1484
01:09:50,720 --> 01:09:53,479
Speaker 3: it leave you, guys, as you're basically an Australia based

1485
01:09:53,520 --> 01:09:57,240
Speaker 3: business and here you're just doing retail or products.

1486
01:09:57,280 --> 01:10:00,439
Speaker 22: Oh no, no, no, So if you look at our

1487
01:10:00,479 --> 01:10:05,120
Speaker 22: strategic review, we've said that our medium term intention is

1488
01:10:05,160 --> 01:10:10,240
Speaker 22: to be a building materials and distribution company building materials

1489
01:10:10,240 --> 01:10:14,200
Speaker 22: and manufacturing distribution company, and we have significant operations in

1490
01:10:14,240 --> 01:10:15,679
Speaker 22: both Australia and New Zealand.

1491
01:10:16,600 --> 01:10:18,720
Speaker 3: Yeah, okay, I mean that is a that's a mess

1492
01:10:18,760 --> 01:10:20,640
Speaker 3: of there's a mess of downscaling, isn't it.

1493
01:10:21,920 --> 01:10:26,240
Speaker 22: We would be smaller, more nimble, and one would expect

1494
01:10:26,320 --> 01:10:27,000
Speaker 22: more profitable.

1495
01:10:27,320 --> 01:10:29,519
Speaker 3: Do you think is this an admission then that the

1496
01:10:29,600 --> 01:10:32,080
Speaker 3: growth that Fletcher just grew far too fast and got

1497
01:10:32,120 --> 01:10:32,800
Speaker 3: too ambitious.

1498
01:10:34,920 --> 01:10:40,520
Speaker 22: I think that we have historically made some inappropriate acquisitions

1499
01:10:40,960 --> 01:10:43,840
Speaker 22: which may have been done just to get bigger, and

1500
01:10:44,000 --> 01:10:46,560
Speaker 22: then we have made some other management decisions which have

1501
01:10:46,760 --> 01:10:51,920
Speaker 22: resulted in too much corporate cost. And I think we

1502
01:10:52,080 --> 01:10:55,759
Speaker 22: made the mistake of trying to grow through the construction division,

1503
01:10:56,120 --> 01:10:59,320
Speaker 22: which always countered with it a significant element of risk.

1504
01:11:00,080 --> 01:11:02,040
Speaker 3: How's it going with the convention center? Is it due

1505
01:11:02,040 --> 01:11:03,879
Speaker 3: to be open? Is we're still on track for February

1506
01:11:03,920 --> 01:11:04,280
Speaker 3: next year?

1507
01:11:05,120 --> 01:11:05,320
Speaker 2: Yes?

1508
01:11:05,520 --> 01:11:08,040
Speaker 22: Yes, no, so we're into the final commissioning phase. At

1509
01:11:08,080 --> 01:11:11,439
Speaker 22: the moment, construction work is complete, we're just going through

1510
01:11:11,439 --> 01:11:14,639
Speaker 22: all the paperwork and commissioning. At the moment so we're

1511
01:11:14,680 --> 01:11:17,599
Speaker 22: looking forwards to handing over what will be an iconic

1512
01:11:17,720 --> 01:11:19,280
Speaker 22: building to Ski City.

1513
01:11:19,520 --> 01:11:22,519
Speaker 3: Yeah, Andrew, if this year is tough and as tough

1514
01:11:22,560 --> 01:11:24,679
Speaker 3: as you say, and I suspect I totally actually believe

1515
01:11:24,720 --> 01:11:26,960
Speaker 3: that you're right, then that would suggest this is not

1516
01:11:27,040 --> 01:11:28,680
Speaker 3: something we're going to come out of super fast, right,

1517
01:11:28,760 --> 01:11:30,479
Speaker 3: So next year is probably going to be tough too.

1518
01:11:31,400 --> 01:11:33,920
Speaker 22: Yes, I think it will be. All the signs we've

1519
01:11:33,920 --> 01:11:37,559
Speaker 22: got at the moment are that the patchingess that we've

1520
01:11:37,560 --> 01:11:41,400
Speaker 22: been experiencing in the second half of trading of financial

1521
01:11:41,479 --> 01:11:44,720
Speaker 22: year twenty five is continuing into Financial year twenty six.

1522
01:11:46,320 --> 01:11:46,559
Speaker 15: Yeah.

1523
01:11:46,720 --> 01:11:51,599
Speaker 22: And Australia may be showing signs of lifting a bit earlier,

1524
01:11:51,960 --> 01:11:56,120
Speaker 22: but it's still very, very difficult to see when that

1525
01:11:56,240 --> 01:12:00,160
Speaker 22: will actually any of those precursors will come through. Is

1526
01:12:00,240 --> 01:12:01,599
Speaker 22: this greage activity in the market.

1527
01:12:01,720 --> 01:12:04,520
Speaker 3: Is this just a Fletcher story. Is this a construction

1528
01:12:04,680 --> 01:12:06,400
Speaker 3: story or is this an economy story.

1529
01:12:07,960 --> 01:12:11,000
Speaker 22: I think it's a construction and an economy story. And

1530
01:12:11,160 --> 01:12:14,120
Speaker 22: I think it's driven by the interest rates we've had

1531
01:12:14,280 --> 01:12:17,000
Speaker 22: over the past few years and the change in net

1532
01:12:17,080 --> 01:12:20,799
Speaker 22: migration rates, probably so that that used to create qualort

1533
01:12:20,840 --> 01:12:23,240
Speaker 22: of demand in the housing market, which.

1534
01:12:23,120 --> 01:12:25,880
Speaker 3: Is the same, yeah, which has dropped off. But then, Andrew,

1535
01:12:25,960 --> 01:12:28,439
Speaker 3: that's to say it will survived to twenty five. Now,

1536
01:12:28,520 --> 01:12:30,559
Speaker 3: let's get through to twenty six. But geez, we may

1537
01:12:30,600 --> 01:12:32,639
Speaker 3: have to wait until what like late twenty six twenty

1538
01:12:32,720 --> 01:12:34,639
Speaker 3: seven until we start to really feel good.

1539
01:12:35,479 --> 01:12:37,639
Speaker 22: Yes, I mean, look, there will be a significant amount

1540
01:12:37,640 --> 01:12:39,599
Speaker 22: of work coming out in the infrastructure space in New

1541
01:12:39,680 --> 01:12:42,320
Speaker 22: Zealand and Australia. But the trouble with that is that

1542
01:12:42,479 --> 01:12:44,439
Speaker 22: you get that by the time people have done the

1543
01:12:44,520 --> 01:12:48,200
Speaker 22: design and actually got shovels into the ground, you're talking

1544
01:12:48,200 --> 01:12:51,160
Speaker 22: about twelve eighteen months away, and then for that's become

1545
01:12:51,320 --> 01:12:55,439
Speaker 22: serious activity six months post that. So we think financial

1546
01:12:55,520 --> 01:12:58,479
Speaker 22: year twenty six flats and then we might start to

1547
01:12:58,520 --> 01:13:00,639
Speaker 22: season benefit and financial year twenty seven.

1548
01:13:00,880 --> 01:13:03,240
Speaker 3: You're killing me, okay, but yeah, it's better to know.

1549
01:13:03,360 --> 01:13:05,760
Speaker 3: I suppose get the medicine upfront. Andrew, When does it

1550
01:13:05,840 --> 01:13:07,680
Speaker 3: get better for Fletcher? What do you have to put

1551
01:13:07,720 --> 01:13:10,439
Speaker 3: behind you? The sale of the construction, the court cases,

1552
01:13:10,520 --> 01:13:12,559
Speaker 3: get the get into a better state with the economy,

1553
01:13:12,640 --> 01:13:13,040
Speaker 3: what else?

1554
01:13:13,880 --> 01:13:16,880
Speaker 22: Well, we've got the legacy, most our legacy projects behind us. Now,

1555
01:13:16,960 --> 01:13:21,280
Speaker 22: so that's that's that's one tick we have been downsizing

1556
01:13:21,400 --> 01:13:24,160
Speaker 22: the corporate center here, so we're getting structural costs down

1557
01:13:24,200 --> 01:13:27,360
Speaker 22: to the business so that's another tick. We've been devolving

1558
01:13:28,000 --> 01:13:32,200
Speaker 22: empowerment to the business units, so making them take on

1559
01:13:32,280 --> 01:13:35,080
Speaker 22: more more responsibility and accountability, but making them quicker to

1560
01:13:35,200 --> 01:13:38,560
Speaker 22: react to the things they see in the marketplace. So

1561
01:13:39,040 --> 01:13:41,840
Speaker 22: all of those things coming together, if we've got a

1562
01:13:41,920 --> 01:13:44,639
Speaker 22: lift in the market, would see a significant lift in improvement.

1563
01:13:45,360 --> 01:13:47,920
Speaker 3: Andrew, it's good to talk to you, groom, but good

1564
01:13:48,000 --> 01:13:51,080
Speaker 3: Andrew Ridding, Managing director and Group CEO of Fletcher Building,

1565
01:13:51,200 --> 01:13:55,400
Speaker 3: fourteen past six gither duple c Ellen twenty seven am,

1566
01:13:56,320 --> 01:14:00,200
Speaker 3: so twenty seven before we start feeling it. Sky City

1567
01:14:00,240 --> 01:14:02,559
Speaker 3: has gone into a trading holt on the enzed XP,

1568
01:14:02,600 --> 01:14:05,000
Speaker 3: pending an announcement on a possible capital raise. Now this

1569
01:14:05,080 --> 01:14:08,320
Speaker 3: has come about because the Australian newspaper said they had

1570
01:14:08,360 --> 01:14:11,880
Speaker 3: been talking the investment community that as SkyCity could make

1571
01:14:11,880 --> 01:14:14,880
Speaker 3: a cash call to fund managers this week if they

1572
01:14:15,040 --> 01:14:19,000
Speaker 3: do it, they are doing it tomorrow because tomorrow is

1573
01:14:19,040 --> 01:14:22,280
Speaker 3: when they release the results. So either so tomorrow they

1574
01:14:22,360 --> 01:14:23,960
Speaker 3: either say the capital raises on and then they go

1575
01:14:24,000 --> 01:14:26,040
Speaker 3: into another trading halt, or to say the capital raises

1576
01:14:26,040 --> 01:14:28,040
Speaker 3: off and then it's it's it's good to go. We're

1577
01:14:28,080 --> 01:14:28,960
Speaker 3: going to find out first thing.

1578
01:14:29,080 --> 01:14:32,479
Speaker 1: So quarter past six, it's the Heather Duper c Allen

1579
01:14:32,600 --> 01:14:36,160
Speaker 1: Drive Full Show podcast on my Heart Radio powered by

1580
01:14:36,240 --> 01:14:37,120
Speaker 1: news dog ZEPPI.

1581
01:14:38,600 --> 01:14:40,920
Speaker 3: Just out of the UK. Inflation's gone up again three

1582
01:14:41,000 --> 01:14:43,160
Speaker 3: point eight percent for June. This is up from three

1583
01:14:43,240 --> 01:14:46,479
Speaker 3: point six percent the month before. It's it's on track

1584
01:14:46,520 --> 01:14:48,240
Speaker 3: to four percent before the end of this year. This

1585
01:14:48,320 --> 01:14:51,240
Speaker 3: is now nineteen month high right now, seventeen pass six

1586
01:14:51,320 --> 01:14:53,640
Speaker 3: And Remy Morgan Milfed acidt Management is with me. Hey,

1587
01:14:53,680 --> 01:14:57,080
Speaker 3: Remy Hi Heaver. So how has the market reacted to

1588
01:14:57,120 --> 01:14:57,920
Speaker 3: the ocr cut?

1589
01:14:59,280 --> 01:15:02,759
Speaker 21: Yeah, so twenty five basis point cut today to three percent.

1590
01:15:02,880 --> 01:15:06,160
Speaker 21: That was largely expected. But what did surprise the market

1591
01:15:06,560 --> 01:15:09,960
Speaker 21: was the rbnz's revisions to its own projection for the

1592
01:15:10,000 --> 01:15:13,160
Speaker 21: official cash rate, which it now sees bottoming out at

1593
01:15:13,240 --> 01:15:16,240
Speaker 21: two point five five percent instead of two point eight

1594
01:15:16,320 --> 01:15:19,840
Speaker 21: five percent. And another surprise was the fact that two

1595
01:15:20,000 --> 01:15:22,839
Speaker 21: of the six committee members had voted for a fifty

1596
01:15:22,920 --> 01:15:26,400
Speaker 21: basis point cut at this meeting instead of twenty five. Now,

1597
01:15:26,560 --> 01:15:29,519
Speaker 21: given these signals from the RBNZ of further evening were

1598
01:15:29,600 --> 01:15:33,560
Speaker 21: beyond what the market had actually expected. Post the announcement,

1599
01:15:33,720 --> 01:15:36,479
Speaker 21: we saw New Zealand dollar swap rates moving lower, and

1600
01:15:36,600 --> 01:15:39,599
Speaker 21: we also saw a weakening of the New Zealand dollar,

1601
01:15:39,920 --> 01:15:42,559
Speaker 21: with the New Zealand to US dollar exchange rate falling

1602
01:15:42,720 --> 01:15:43,760
Speaker 21: over one percent.

1603
01:15:43,520 --> 01:15:43,960
Speaker 14: On the day.

1604
01:15:44,400 --> 01:15:45,840
Speaker 3: What's the market expecting from here?

1605
01:15:47,240 --> 01:15:50,000
Speaker 21: Yeah, so going into today's meeting, there was only about

1606
01:15:50,200 --> 01:15:53,760
Speaker 21: half of a cut priced for after today's announcement for

1607
01:15:53,840 --> 01:15:55,840
Speaker 21: the rest of the year, but we've actually seen the

1608
01:15:55,920 --> 01:15:59,040
Speaker 21: market revise the expectation now to more than one full

1609
01:15:59,120 --> 01:16:02,040
Speaker 21: cut before the end the year. So whether that market

1610
01:16:02,160 --> 01:16:05,160
Speaker 21: view will be revised further from here will likely depend

1611
01:16:05,280 --> 01:16:08,519
Speaker 21: on how the economic data unfolds between now and the

1612
01:16:08,640 --> 01:16:10,479
Speaker 21: next Reserve Bank meeting in October.

1613
01:16:10,640 --> 01:16:13,479
Speaker 3: Okay, now we're obviously full swing into the reporting season.

1614
01:16:13,560 --> 01:16:15,800
Speaker 3: What did the market make of the Fletcher building results today?

1615
01:16:17,120 --> 01:16:17,320
Speaker 2: Yeah?

1616
01:16:17,360 --> 01:16:20,400
Speaker 21: So overall it's been a challenging year for Fletcher with

1617
01:16:20,560 --> 01:16:23,080
Speaker 21: the tough market conditions in New Zealand and that did

1618
01:16:23,120 --> 01:16:26,559
Speaker 21: weigh on the result. They did not provide any forward guidance,

1619
01:16:26,680 --> 01:16:29,599
Speaker 21: but what management did say was that they expect demand

1620
01:16:29,680 --> 01:16:32,519
Speaker 21: to remain soft over the next financial year, which could

1621
01:16:32,560 --> 01:16:36,519
Speaker 21: see limited earnings improvement, whereas the market had been expecting

1622
01:16:36,600 --> 01:16:39,200
Speaker 21: some improvement in the second half of next financial year.

1623
01:16:39,800 --> 01:16:43,080
Speaker 21: But while the economy remains tough, the company does continue

1624
01:16:43,120 --> 01:16:47,240
Speaker 21: to focus on reducing cost and is exploring business divestments.

1625
01:16:47,680 --> 01:16:49,519
Speaker 21: So we did see the share price bounce around a

1626
01:16:49,560 --> 01:16:51,960
Speaker 21: little bit throughout the day, but it closed roughly flat.

1627
01:16:52,200 --> 01:16:53,639
Speaker 3: And what was the reaction to Spark?

1628
01:16:55,000 --> 01:16:58,080
Speaker 21: Yes, so Spark also had a challenging year with economic

1629
01:16:58,240 --> 01:17:01,559
Speaker 21: and competitive pressures, but it does appear the business has

1630
01:17:01,640 --> 01:17:05,880
Speaker 21: stabilized after some significant cost reductions. Now, while the earnings

1631
01:17:05,920 --> 01:17:09,480
Speaker 21: outlook for next year is a bit lower than market expectations,

1632
01:17:09,880 --> 01:17:12,200
Speaker 21: perhaps the key piece of news was the fact that

1633
01:17:12,400 --> 01:17:15,360
Speaker 21: Spark reset its dividend policy to be based off of

1634
01:17:15,920 --> 01:17:18,760
Speaker 21: its new definition of free cash flow. Now this will

1635
01:17:19,080 --> 01:17:22,360
Speaker 21: likely see next year's dividend reset lower than the twenty

1636
01:17:22,439 --> 01:17:25,400
Speaker 21: five cents per share that it paid this year. So

1637
01:17:25,560 --> 01:17:28,679
Speaker 21: while Spark delivered a week result, it was perhaps better

1638
01:17:28,760 --> 01:17:32,040
Speaker 21: than fared and the prospect of further rate cuts by

1639
01:17:32,080 --> 01:17:34,439
Speaker 21: the RB and Z might have helped to lift sentiment

1640
01:17:34,520 --> 01:17:36,439
Speaker 21: a bit, and the stock finished up on the day.

1641
01:17:37,040 --> 01:17:40,400
Speaker 3: Thanks Remy, appreciate it. Remy Morgan Milford asset asset Managements

1642
01:17:40,439 --> 01:17:44,439
Speaker 3: twenty past six. Ever, do for see ellen Ah here

1643
01:17:44,479 --> 01:17:46,320
Speaker 3: they beat the bush? Is he being attacked because he's

1644
01:17:46,320 --> 01:17:48,320
Speaker 3: a man? Oh, such a good point from Dave. Such

1645
01:17:48,360 --> 01:17:51,400
Speaker 3: a good If that was beat Jacinda dot co dot

1646
01:17:51,439 --> 01:17:53,439
Speaker 3: in z that we were talking about, Holy heck. Can

1647
01:17:53,479 --> 01:17:55,600
Speaker 3: you imagine the outcry that would be leading all the

1648
01:17:55,800 --> 01:17:58,200
Speaker 3: r n Z bulletins for like a week. Wouldn't it

1649
01:17:58,360 --> 01:18:01,439
Speaker 3: be all over one news at six three? Would beat three,

1650
01:18:01,479 --> 01:18:03,680
Speaker 3: would have a story on it and then like an

1651
01:18:03,680 --> 01:18:06,360
Speaker 3: eight minute interview afterwards. But if it's Chris Bishop, if

1652
01:18:06,360 --> 01:18:08,320
Speaker 3: it's a dude getting beaten by the cricket bats on

1653
01:18:08,680 --> 01:18:12,240
Speaker 3: the dot Co dollings, no one cares. Just remember that,

1654
01:18:12,560 --> 01:18:14,600
Speaker 3: Just remember that next time Helen Clark comes out and

1655
01:18:14,640 --> 01:18:17,040
Speaker 3: gets fantastic. Jes Cinda got a beast and that's why

1656
01:18:17,120 --> 01:18:20,240
Speaker 3: she's left. Well, did she have a cricket bat game?

1657
01:18:20,520 --> 01:18:20,560
Speaker 1: No?

1658
01:18:21,320 --> 01:18:25,840
Speaker 3: Now, Brian Roach, Public Service Commissioner, they're going to offer

1659
01:18:25,920 --> 01:18:28,439
Speaker 3: some more money to the teachers. He says, this was

1660
01:18:28,439 --> 01:18:31,040
Speaker 3: always going to be a difficult bargaining round the strikers.

1661
01:18:31,080 --> 01:18:33,040
Speaker 3: Evidence of that. Now that has happened, we have to

1662
01:18:33,080 --> 01:18:35,040
Speaker 3: find a way forward. We owe that to the students

1663
01:18:35,080 --> 01:18:37,840
Speaker 3: and the parents and the teachers. Our initial offer clearly

1664
01:18:37,880 --> 01:18:40,040
Speaker 3: hasn't hit the mark, and we are doing work on

1665
01:18:40,080 --> 01:18:42,000
Speaker 3: a revised offer six twenty one.

1666
01:18:42,960 --> 01:18:45,519
Speaker 1: If it's to do with money, it matters to you.

1667
01:18:46,040 --> 01:18:48,800
Speaker 1: The Business Hour where the Heather Duper, c Ellen and

1668
01:18:49,200 --> 01:18:53,200
Speaker 1: maz for Trusted Home Insurance Solutions News talks'd.

1669
01:18:52,840 --> 01:18:55,200
Speaker 3: Be Hey, do you remember how Elon Musk was going

1670
01:18:55,240 --> 01:18:58,080
Speaker 3: to start a political party. He's not going to anymore.

1671
01:18:58,479 --> 01:19:00,639
Speaker 3: The Wall Street Journal is reporting that he's been telling

1672
01:19:00,720 --> 01:19:02,559
Speaker 3: his mates that he wants to focus on his companies.

1673
01:19:02,600 --> 01:19:03,880
Speaker 3: Come on, mate, you should have been focusing on your

1674
01:19:03,880 --> 01:19:06,800
Speaker 3: companies ages ago. But more importantly, I think he's become

1675
01:19:06,880 --> 01:19:09,320
Speaker 3: quite chummy with JD Varnes, and if he launches a

1676
01:19:09,360 --> 01:19:11,920
Speaker 3: competing party, then JD will not be his friend anymore.

1677
01:19:12,200 --> 01:19:14,200
Speaker 3: And so what he's doing now is considering using some

1678
01:19:14,320 --> 01:19:17,479
Speaker 3: of his financial resources to back JD if JD decides

1679
01:19:17,520 --> 01:19:20,720
Speaker 3: to run for president in twenty twenty eight. Six twenty five,

1680
01:19:20,800 --> 01:19:22,280
Speaker 3: here's some show business.

1681
01:19:22,040 --> 01:19:23,400
Speaker 2: Heather du for c Ellen.

1682
01:19:27,720 --> 01:19:29,320
Speaker 23: Wow, you know what it is?

1683
01:19:29,439 --> 01:19:33,519
Speaker 3: Millennials, hang on, stop it, stop getting excited. One of

1684
01:19:33,560 --> 01:19:35,920
Speaker 3: the biggest ninety boy bands are on their way down

1685
01:19:35,960 --> 01:19:38,840
Speaker 3: to down Under. This is five obviously from the UK.

1686
01:19:39,080 --> 01:19:41,200
Speaker 3: Well five you can either call them five or you

1687
01:19:41,320 --> 01:19:45,200
Speaker 3: can call them five five because they remember when they

1688
01:19:45,240 --> 01:19:46,880
Speaker 3: did that thing where they had the numeral five and

1689
01:19:46,920 --> 01:19:50,519
Speaker 3: then they wrote ive afterwards, so it was like five ive. Yeah,

1690
01:19:50,680 --> 01:19:52,679
Speaker 3: it confused me a lot when I was young. Anyway,

1691
01:19:53,040 --> 01:19:55,880
Speaker 3: they are teasing upcoming shows, so they posted a video

1692
01:19:55,960 --> 01:19:58,599
Speaker 3: of a Melbourne billboard with a mysterious date. It's August

1693
01:19:58,720 --> 01:20:02,000
Speaker 3: twenty second, seven eight. That's nine am, New Zealand time.

1694
01:20:02,080 --> 01:20:04,960
Speaker 3: Twenty seconds is obviously this Friday. Now you can only

1695
01:20:05,000 --> 01:20:06,960
Speaker 3: assume this is when they're going to be announcing the tour.

1696
01:20:07,040 --> 01:20:08,599
Speaker 3: And you might be saying, well, hang on a togeather.

1697
01:20:08,880 --> 01:20:11,200
Speaker 3: If the billboarders in Melbourne, how do we know they're

1698
01:20:11,240 --> 01:20:13,759
Speaker 3: coming to New Zealand. Or they've also been posting pics

1699
01:20:13,800 --> 01:20:16,560
Speaker 3: of the New Zealand flag and a key WE on

1700
01:20:16,640 --> 01:20:19,240
Speaker 3: their Instagram story, So not being very subtle, are they.

1701
01:20:19,600 --> 01:20:20,920
Speaker 3: That's hard evidence right there.

1702
01:20:21,360 --> 01:20:21,479
Speaker 10: Now.

1703
01:20:21,640 --> 01:20:23,840
Speaker 3: Five have been to New Zealand recently, but not with

1704
01:20:23,960 --> 01:20:27,080
Speaker 3: the original lineup from the nineties. This tour will be

1705
01:20:27,160 --> 01:20:29,960
Speaker 3: the first time since two thousand and one. That's a

1706
01:20:30,040 --> 01:20:32,920
Speaker 3: long time between drinks. That the original band will be

1707
01:20:33,000 --> 01:20:35,439
Speaker 3: performing together. But don't worry. If you think they haven't

1708
01:20:35,479 --> 01:20:36,800
Speaker 3: still got the moves, you're wrong.

1709
01:20:39,640 --> 01:20:42,080
Speaker 2: I can tell you that we will be busting all

1710
01:20:42,160 --> 01:20:42,599
Speaker 2: the moves.

1711
01:20:43,160 --> 01:20:45,680
Speaker 3: The knees might have ice baths.

1712
01:20:45,439 --> 01:20:47,720
Speaker 7: After, but I can guarantee you the moves are coming

1713
01:20:47,760 --> 01:20:48,439
Speaker 7: out in force.

1714
01:20:49,080 --> 01:20:50,600
Speaker 3: Now, what you want to do is make sure that

1715
01:20:50,680 --> 01:20:52,680
Speaker 3: your alarms are set for nine am on Friday so

1716
01:20:52,760 --> 01:20:54,280
Speaker 3: you can find out where or where they're going to

1717
01:20:54,320 --> 01:20:57,040
Speaker 3: be performing. But also what I would highly recommend that

1718
01:20:57,120 --> 01:21:01,000
Speaker 3: you do is google a picture of what before you

1719
01:21:01,120 --> 01:21:06,080
Speaker 3: buy the tickets. Google a picture because it might I

1720
01:21:06,120 --> 01:21:07,639
Speaker 3: don't know that it's going to make you not buy

1721
01:21:07,680 --> 01:21:09,120
Speaker 3: the tickets, but it is just going to make you

1722
01:21:09,200 --> 01:21:12,320
Speaker 3: reset your expectations. Because the five of them modern day

1723
01:21:12,880 --> 01:21:16,840
Speaker 3: standing there look like five well, they look like four

1724
01:21:16,960 --> 01:21:19,120
Speaker 3: pons and be dads. But you know when the dad's

1725
01:21:19,200 --> 01:21:21,120
Speaker 3: kind of hit the teenage age at you know when

1726
01:21:21,200 --> 01:21:22,880
Speaker 3: you're that kind of a dad, So you're like your

1727
01:21:22,920 --> 01:21:25,840
Speaker 3: mid fifties, you know, that kind of mid fifties but

1728
01:21:25,920 --> 01:21:28,000
Speaker 3: still quite happened. Cool because you live in Ponsby and

1729
01:21:28,040 --> 01:21:31,160
Speaker 3: you can't possibly stop buying sneakers even if you're in

1730
01:21:31,200 --> 01:21:33,320
Speaker 3: your mid fifties. That's the kind of dads they look like.

1731
01:21:33,360 --> 01:21:35,280
Speaker 3: So it's four of them with the drug dealer in

1732
01:21:35,360 --> 01:21:37,880
Speaker 3: the middle. It's their coke dealer in the middle, or

1733
01:21:38,400 --> 01:21:40,599
Speaker 3: just some random gang member that they picked up down

1734
01:21:40,600 --> 01:21:42,559
Speaker 3: the road because he's got tattoos all over his face.

1735
01:21:42,800 --> 01:21:45,519
Speaker 3: That's what is coming at you. And having said that,

1736
01:21:46,479 --> 01:21:48,439
Speaker 3: depending on the price of the tickets, I might see

1737
01:21:48,479 --> 01:21:50,920
Speaker 3: you there. You never know. It was a good time

1738
01:21:51,000 --> 01:21:54,679
Speaker 3: back in the two thousand and ones, wasn't it. Anyway,

1739
01:21:55,240 --> 01:21:57,320
Speaker 3: Spark's going to be with us next. Sparks fired a

1740
01:21:57,320 --> 01:21:59,479
Speaker 3: whole bunch of people and had had a bit of

1741
01:21:59,479 --> 01:22:02,120
Speaker 3: a tough year, like actually quite a tough year. So

1742
01:22:02,160 --> 01:22:04,519
Speaker 3: we'll have a chat to them about their results news talks.

1743
01:22:04,560 --> 01:22:04,800
Speaker 11: He'd be.

1744
01:22:15,560 --> 01:22:17,839
Speaker 2: Crunching the numbers and getting the results.

1745
01:22:18,160 --> 01:22:21,960
Speaker 1: It's Heathered duplessy Ellen with the Business Hour and MAS

1746
01:22:22,560 --> 01:22:25,320
Speaker 1: for Trusted Home Insurance Solutions news talks.

1747
01:22:25,360 --> 01:22:25,640
Speaker 2: That'd be.

1748
01:22:31,439 --> 01:22:32,240
Speaker 21: It's good.

1749
01:22:34,680 --> 01:22:39,360
Speaker 3: Hither as a feminist and infuriates infurior Erica is not

1750
01:22:39,439 --> 01:22:43,160
Speaker 3: proud of me right now, infuriates me that incompetent women

1751
01:22:43,280 --> 01:22:47,680
Speaker 3: hide behind this narrative preach as a feminist infuriates me too.

1752
01:22:47,720 --> 01:22:49,439
Speaker 3: I just want women to go ahead and do well.

1753
01:22:49,840 --> 01:22:52,559
Speaker 3: Never mind having a whinge about being bullied online anyway,

1754
01:22:52,640 --> 01:22:53,960
Speaker 3: never mind, will leave that for the day. We've done

1755
01:22:54,040 --> 01:22:55,680
Speaker 3: enough of that now, haven't we. Gavin Gray is going

1756
01:22:55,720 --> 01:22:57,840
Speaker 3: to be with us in ten minutes time. It's twenty

1757
01:22:57,920 --> 01:23:00,000
Speaker 3: five away from seven at the minute. Now, as investors,

1758
01:23:00,080 --> 01:23:02,560
Speaker 3: we're expecting. Spark has had a tough year when you

1759
01:23:02,640 --> 01:23:04,519
Speaker 3: were just for one offs. Net profit for the most

1760
01:23:04,560 --> 01:23:07,040
Speaker 3: recent financial year was down more than thirty three percent

1761
01:23:07,160 --> 01:23:09,679
Speaker 3: to two hundred and twenty seven million dollars. The companies

1762
01:23:09,720 --> 01:23:13,040
Speaker 3: also cut about thirteen hundred full time employees. Now Jolie

1763
01:23:13,080 --> 01:23:17,240
Speaker 3: Hodson is Spark CEO. Hey, Jolie, Hi, Heather, So what happened?

1764
01:23:18,160 --> 01:23:21,040
Speaker 3: So we've been facing into a tough economic environment. Like

1765
01:23:21,120 --> 01:23:24,400
Speaker 3: many companies, some of the markets that we have Biggish

1766
01:23:24,640 --> 01:23:29,200
Speaker 3: market sharing have been really impacted both by reductions had

1767
01:23:29,200 --> 01:23:31,479
Speaker 3: seen in their own businesses, lowest spending has they have

1768
01:23:31,479 --> 01:23:34,240
Speaker 3: adapted to the economic environment and so we needed to

1769
01:23:34,280 --> 01:23:36,880
Speaker 3: adjust and change and that's really been a focus for

1770
01:23:37,000 --> 01:23:38,360
Speaker 3: us over the last six months in terms of the

1771
01:23:38,400 --> 01:23:40,679
Speaker 3: program we put in place. Yeah, so lots of corporates

1772
01:23:40,720 --> 01:23:43,840
Speaker 3: cutting their expenses yeah, and if you think about wheenor

1773
01:23:43,920 --> 01:23:47,160
Speaker 3: and we work in both it as well as telecommunications,

1774
01:23:47,240 --> 01:23:51,160
Speaker 3: so you think about tech product projects happening and being

1775
01:23:51,200 --> 01:23:54,000
Speaker 3: deferred over time. So we had a big impact in

1776
01:23:54,080 --> 01:23:56,840
Speaker 3: relation to that, particular in our enterprise and government business. Yeah,

1777
01:23:56,920 --> 01:24:00,200
Speaker 3: is government has government hit you particularly hard. Have a

1778
01:24:01,120 --> 01:24:03,559
Speaker 3: strong customer base and government and so we have seen

1779
01:24:03,640 --> 01:24:05,880
Speaker 3: some of that spend reduction that's happened in the last

1780
01:24:05,920 --> 01:24:08,240
Speaker 3: two years, and that's really has been a big impact

1781
01:24:08,320 --> 01:24:10,360
Speaker 3: for us. Have you had a look at another thing,

1782
01:24:10,400 --> 01:24:13,400
Speaker 3: because in the past you've been criticized for the dividend spend,

1783
01:24:13,600 --> 01:24:15,800
Speaker 3: Have you had another think about that? Where weset a

1784
01:24:16,360 --> 01:24:20,519
Speaker 3: capital management policy with these results? So really, in a nutshell,

1785
01:24:20,560 --> 01:24:22,599
Speaker 3: there's a few things that we've changed there. So our

1786
01:24:22,680 --> 01:24:25,400
Speaker 3: dividend's now based on the free cash flow of the business,

1787
01:24:25,880 --> 01:24:27,640
Speaker 3: so pretty much it'll be a range of seventy to

1788
01:24:27,680 --> 01:24:31,320
Speaker 3: one hundred percent. So that's to some extent, living within

1789
01:24:31,360 --> 01:24:34,280
Speaker 3: your means within that dividend. And today we announced a

1790
01:24:34,320 --> 01:24:37,360
Speaker 3: dividend of one hundred percent payout of the free cash

1791
01:24:37,360 --> 01:24:39,400
Speaker 3: flow range. How do you feel, I mean, one of

1792
01:24:39,400 --> 01:24:41,080
Speaker 3: the bigger things that have happened to you guys in

1793
01:24:41,120 --> 01:24:43,719
Speaker 3: the last financial year is falling out of the Morgan

1794
01:24:43,800 --> 01:24:48,400
Speaker 3: Stanley Index. How do you feel about that? Look, I can't.

1795
01:24:48,880 --> 01:24:50,720
Speaker 3: I can't look back to what's happened. All I can

1796
01:24:50,760 --> 01:24:52,240
Speaker 3: focus is on what we need to do ahead, and

1797
01:24:52,320 --> 01:24:54,439
Speaker 3: that's why the transformation program has been a big part

1798
01:24:54,479 --> 01:24:59,240
Speaker 3: of making sure that we get our operating business in order.

1799
01:25:00,080 --> 01:25:01,880
Speaker 3: Did lead to some changes. It's not a decision to

1800
01:25:01,920 --> 01:25:05,000
Speaker 3: overtake lightly, but ultimately we have to adapt and then

1801
01:25:05,120 --> 01:25:07,120
Speaker 3: some shifts around the non core parts of our business,

1802
01:25:07,160 --> 01:25:10,479
Speaker 3: so we've divested elements. The real important part about that

1803
01:25:10,640 --> 01:25:13,439
Speaker 3: is the ability to recycle that cash back into the

1804
01:25:13,560 --> 01:25:15,880
Speaker 3: things that we do to our core connectivity so mobile

1805
01:25:16,320 --> 01:25:18,120
Speaker 3: and making sure that we're growing that. So that's been

1806
01:25:18,120 --> 01:25:20,200
Speaker 3: the focus for us. Do you reckon you'd ever get

1807
01:25:20,240 --> 01:25:23,200
Speaker 3: to get back into it? Like it is that something

1808
01:25:23,280 --> 01:25:26,040
Speaker 3: that business can realistically achieve. I think from our perspective,

1809
01:25:26,080 --> 01:25:29,800
Speaker 3: we've got an ambition of growing both our earnings and

1810
01:25:29,920 --> 01:25:33,000
Speaker 3: our free cash flow, and with that comes dividend and

1811
01:25:33,080 --> 01:25:35,680
Speaker 3: therefore return for shareholders. So for me, that's very much

1812
01:25:35,720 --> 01:25:37,680
Speaker 3: the focus of the next Farcas I was talking to

1813
01:25:38,120 --> 01:25:40,960
Speaker 3: Andrew reading of Fletcher before and he said that this

1814
01:25:41,160 --> 01:25:44,560
Speaker 3: is the worst economic environment that he can recall. Like,

1815
01:25:44,880 --> 01:25:46,880
Speaker 3: bearing in mind he works in construction and they really

1816
01:25:46,920 --> 01:25:48,600
Speaker 3: had it very hard, but it's the worst that he

1817
01:25:48,640 --> 01:25:51,519
Speaker 3: can recall since probably the late eighties. What about you, Yeah,

1818
01:25:51,560 --> 01:25:53,920
Speaker 3: I'd say it's the worst I've worked on, both in

1819
01:25:53,960 --> 01:25:57,600
Speaker 3: Australia and New Zealand in the last decade plus that

1820
01:25:57,640 --> 01:26:01,200
Speaker 3: I've been back here. I don't remember a tougher time. Yeah,

1821
01:26:01,600 --> 01:26:03,679
Speaker 3: which is to say that it can only get better,

1822
01:26:03,960 --> 01:26:06,439
Speaker 3: can't it. Yeah, Like, if we look ahead, that would

1823
01:26:06,479 --> 01:26:11,120
Speaker 3: be what we're working on. But the reality is we've

1824
01:26:11,160 --> 01:26:13,439
Speaker 3: had quite a few ocarcuts. We've got to see that

1825
01:26:13,600 --> 01:26:15,679
Speaker 3: flow back in confidence, I think in terms of both

1826
01:26:15,760 --> 01:26:18,639
Speaker 3: to consumers but also businesses to ensure that they're investing,

1827
01:26:18,800 --> 01:26:20,320
Speaker 3: because the only way we will come out of this

1828
01:26:20,520 --> 01:26:23,320
Speaker 3: is buy investing for productivity, making sure we are using

1829
01:26:23,400 --> 01:26:26,160
Speaker 3: new technologies, we are thinking about different ways of doing

1830
01:26:26,200 --> 01:26:29,840
Speaker 3: it otherwise becomes a really challenging Yeah. Yeah, I mean

1831
01:26:29,920 --> 01:26:32,800
Speaker 3: what he said though, and this I think is kind

1832
01:26:32,800 --> 01:26:35,479
Speaker 3: of confronting. This is Andrew. What Andrew said is it

1833
01:26:35,560 --> 01:26:39,280
Speaker 3: doesn't get better really until late twenty six, maybe early

1834
01:26:39,400 --> 01:26:41,560
Speaker 3: twenty seven. What do you think Look, I think we

1835
01:26:41,600 --> 01:26:43,560
Speaker 3: were all around when we heard the what was it

1836
01:26:43,640 --> 01:26:47,560
Speaker 3: survived twenty twenty five, So I think it's right to

1837
01:26:47,640 --> 01:26:51,880
Speaker 3: be cautious around what happens. And I think most of

1838
01:26:52,000 --> 01:26:55,200
Speaker 3: us have been adapting our businesses to make sure that

1839
01:26:55,280 --> 01:26:58,080
Speaker 3: we're set up for whatever comes next and not overly

1840
01:26:58,080 --> 01:27:00,559
Speaker 3: optimistic around what that means around the corner, I'm excited

1841
01:27:00,560 --> 01:27:03,080
Speaker 3: about ai AU. Yeah, look, I am. We've been using

1842
01:27:03,080 --> 01:27:05,200
Speaker 3: in our business for a period of time. I mean

1843
01:27:06,040 --> 01:27:08,040
Speaker 3: you can all see there's lots of funny ways in

1844
01:27:08,080 --> 01:27:09,559
Speaker 3: which it can be used. In some ways that are

1845
01:27:09,600 --> 01:27:11,800
Speaker 3: not great for it to be used, but it does

1846
01:27:12,040 --> 01:27:14,719
Speaker 3: help enable Yeah, I mean we are we over hyping

1847
01:27:14,800 --> 01:27:16,920
Speaker 3: it though, I mean there is a huge amount of

1848
01:27:16,920 --> 01:27:18,360
Speaker 3: buzz about it. Is it too much?

1849
01:27:18,720 --> 01:27:18,800
Speaker 2: Now?

1850
01:27:18,840 --> 01:27:20,759
Speaker 3: Look, I think about in certain parts of our business,

1851
01:27:20,800 --> 01:27:23,599
Speaker 3: so helping our teams, for example, our customer service teams,

1852
01:27:24,000 --> 01:27:26,800
Speaker 3: so it is answering twenty thousand queries to our team

1853
01:27:26,840 --> 01:27:29,080
Speaker 3: members a month right now. Yeah, So that is a

1854
01:27:29,160 --> 01:27:31,639
Speaker 3: huge amount of time that's taken off them of doing

1855
01:27:31,720 --> 01:27:34,240
Speaker 3: things potentially that is not as exciting for them to

1856
01:27:34,320 --> 01:27:36,080
Speaker 3: be doing. Or So I think there are ways in

1857
01:27:36,160 --> 01:27:38,800
Speaker 3: which definitely ways in which you use it, Yes, I

1858
01:27:38,880 --> 01:27:41,320
Speaker 3: do use it for partly in terms of when you're

1859
01:27:41,360 --> 01:27:46,040
Speaker 3: summarizing things, getting you know, like Google used to be

1860
01:27:46,120 --> 01:27:47,679
Speaker 3: in the past. Yeah, a lot of ways of bringing

1861
01:27:47,680 --> 01:27:50,920
Speaker 3: different information together, sometimes to travel, getting recommendations within that.

1862
01:27:51,120 --> 01:27:51,280
Speaker 23: Yeah.

1863
01:27:51,360 --> 01:27:51,920
Speaker 8: Yeah, yeah.

1864
01:27:52,240 --> 01:27:53,880
Speaker 3: And so one of the things as a business that

1865
01:27:53,920 --> 01:27:55,559
Speaker 3: we're trying to do is really stand back and make

1866
01:27:55,640 --> 01:27:58,559
Speaker 3: sure that you're using it on an in ten process

1867
01:27:58,600 --> 01:28:00,479
Speaker 3: if we are going to use it, because you can

1868
01:28:00,520 --> 01:28:03,200
Speaker 3: get thousands of things that you could do with it. Yes,

1869
01:28:03,280 --> 01:28:04,799
Speaker 3: some of them are fun, some of them are interesting,

1870
01:28:04,880 --> 01:28:07,400
Speaker 3: but is it really going to drive efficiency or change

1871
01:28:07,439 --> 01:28:10,280
Speaker 3: your customer experience? So really our focus right now is

1872
01:28:10,320 --> 01:28:12,040
Speaker 3: on how do we make sure we use the scale

1873
01:28:12,120 --> 01:28:14,720
Speaker 3: in the right places. Yeah. Hey, I really appreciate your time.

1874
01:28:14,760 --> 01:28:16,479
Speaker 3: Thank you, Jolly, and thanks for coming in. Jolly Hodson

1875
01:28:16,760 --> 01:28:20,679
Speaker 3: Sparks CEO nineteen away from seven. Heather up Ellen, heither

1876
01:28:20,720 --> 01:28:23,200
Speaker 3: when is the big announcement from Nicola on the grocery change.

1877
01:28:23,200 --> 01:28:24,599
Speaker 3: It should be by the end of next week, because

1878
01:28:24,600 --> 01:28:25,200
Speaker 3: that's what they promised.

1879
01:28:25,240 --> 01:28:25,400
Speaker 7: John.

1880
01:28:25,439 --> 01:28:27,960
Speaker 3: You make a very good point, she did say, by

1881
01:28:28,000 --> 01:28:30,040
Speaker 3: the end of August, and August is fast running out

1882
01:28:30,080 --> 01:28:33,639
Speaker 3: because next weekend is September, isn't it. So let's see.

1883
01:28:33,680 --> 01:28:37,800
Speaker 3: We'll ask Nicola about it on Monday. Now, RFK and

1884
01:28:37,840 --> 01:28:42,840
Speaker 3: Pete HeiG Seth have started a health campaign in which

1885
01:28:43,280 --> 01:28:45,280
Speaker 3: they've given it a bit of a stink name. They

1886
01:28:45,320 --> 01:28:48,120
Speaker 3: call it the Big Big Pete and Bobby Challenge, which

1887
01:28:48,200 --> 01:28:51,040
Speaker 3: I doesn't take. I don't know big Comma, big Pete.

1888
01:28:51,120 --> 01:28:53,080
Speaker 3: I don't know. Why is that? Because Pete is big.

1889
01:28:53,400 --> 01:28:55,759
Speaker 3: So it's the Big Challenge by Big Pete and Bobby.

1890
01:28:55,800 --> 01:28:57,280
Speaker 3: I don't get it. But it's the Big Big Pete

1891
01:28:57,280 --> 01:28:59,760
Speaker 3: and Bobby Challenge. And you are challenged to do fifty

1892
01:28:59,800 --> 01:29:02,000
Speaker 3: pups and one hundred press ups and you have to

1893
01:29:02,040 --> 01:29:05,879
Speaker 3: do it all in five minutes. Depete and Barby Challenge.

1894
01:29:06,160 --> 01:29:08,120
Speaker 3: One hundred pushups, fifty pull up.

1895
01:29:08,360 --> 01:29:10,840
Speaker 7: We allf Americans will take this challenge and you'll pass

1896
01:29:10,880 --> 01:29:12,280
Speaker 7: it along so that we're.

1897
01:29:12,160 --> 01:29:15,479
Speaker 3: Ready to be fit the way we need to be

1898
01:29:15,600 --> 01:29:16,479
Speaker 3: healthy and to have.

1899
01:29:16,520 --> 01:29:17,439
Speaker 6: A healthy fighting for us.

1900
01:29:17,600 --> 01:29:19,320
Speaker 14: Go get Let's make America healthy.

1901
01:29:19,720 --> 01:29:22,600
Speaker 3: Doesn't make America healthy. So don't tell me off for

1902
01:29:22,720 --> 01:29:25,559
Speaker 3: mocking him. I always get told off for mocking him,

1903
01:29:25,600 --> 01:29:28,000
Speaker 3: but I can't help it because he's highly mockable and

1904
01:29:28,120 --> 01:29:30,360
Speaker 3: he's a man, So it doesn't count because he's a

1905
01:29:30,400 --> 01:29:33,559
Speaker 3: man politician, right, We only counted when it's a woman politician. Anyway.

1906
01:29:33,760 --> 01:29:36,240
Speaker 3: So what they did is they filmed themselves doing pull

1907
01:29:36,320 --> 01:29:39,400
Speaker 3: ups and it was look it was extravagant, like it

1908
01:29:39,560 --> 01:29:41,800
Speaker 3: was a scene the two of them on those polly

1909
01:29:41,880 --> 01:29:43,880
Speaker 3: up things, you know, like the monkey bars, two of

1910
01:29:43,920 --> 01:29:45,920
Speaker 3: them next to each other, and then they're just surrounded

1911
01:29:46,320 --> 01:29:48,479
Speaker 3: by all these fit marines and members of the Navy

1912
01:29:48,520 --> 01:29:51,400
Speaker 3: and they're all doing pull ups together. RFK did not

1913
01:29:51,479 --> 01:29:53,679
Speaker 3: look the part. He's in the Denham jeans, brown boots,

1914
01:29:53,720 --> 01:29:56,400
Speaker 3: a belt, in a Navy TV shirt T shirt like

1915
01:29:56,479 --> 01:29:59,280
Speaker 3: he looks like he's he looks like I mean, he

1916
01:29:59,400 --> 01:30:01,880
Speaker 3: just looks like he's going into a Midwestern pump, do

1917
01:30:01,880 --> 01:30:03,519
Speaker 3: you know what I mean? But now he's doing pull ups.

1918
01:30:03,920 --> 01:30:05,600
Speaker 3: Oh mate. The other one, Pete egg Seth, he was

1919
01:30:05,600 --> 01:30:07,040
Speaker 3: a bit more like in the look. He had shorts

1920
01:30:07,080 --> 01:30:08,840
Speaker 3: and a T shirt ten twenty nine on the back,

1921
01:30:08,880 --> 01:30:10,840
Speaker 3: which is a reference apparently to him being the twenty

1922
01:30:10,960 --> 01:30:13,960
Speaker 3: ninth Defense Secretary. Neither of them for setting the challenge.

1923
01:30:14,000 --> 01:30:16,040
Speaker 3: It's a hard challenge. Neither of them actually did it.

1924
01:30:16,400 --> 01:30:21,000
Speaker 3: He Acceeth did it in five point two minutes. RFK

1925
01:30:21,280 --> 01:30:23,960
Speaker 3: was just behind him, As Ants pointed out to me earlier,

1926
01:30:24,000 --> 01:30:25,680
Speaker 3: when I made Ants watched the video, I said, have

1927
01:30:25,760 --> 01:30:27,360
Speaker 3: a look at this, don't you want And then I

1928
01:30:27,400 --> 01:30:29,840
Speaker 3: showed him pictures of RFK without a top on, and

1929
01:30:29,920 --> 01:30:31,160
Speaker 3: I was like, don't you want to look like that?

1930
01:30:31,280 --> 01:30:33,080
Speaker 3: How old is he? Ants? He's like seventy, isn't he?

1931
01:30:33,439 --> 01:30:36,080
Speaker 17: Oh yeah, wouldn't have my head much better shape than

1932
01:30:36,120 --> 01:30:36,360
Speaker 17: I am.

1933
01:30:36,320 --> 01:30:39,760
Speaker 3: That he's looking good, like, he looks good. Ants pointed out,

1934
01:30:39,840 --> 01:30:42,320
Speaker 3: this is one of the more happy sides of the

1935
01:30:42,400 --> 01:30:45,080
Speaker 3: mega movement and the sort of like and then also,

1936
01:30:45,240 --> 01:30:47,160
Speaker 3: you know, because there's a slight bit of overlap there

1937
01:30:47,240 --> 01:30:51,720
Speaker 3: with the sort of you know, alt right movement, that's you.

1938
01:30:51,760 --> 01:30:53,280
Speaker 17: Know, you know, it's great because they're like, yeah, get

1939
01:30:53,360 --> 01:30:55,639
Speaker 17: get everyone, get fit and healthy, and I'm like, yeah, yeah, yeah,

1940
01:30:55,640 --> 01:30:57,080
Speaker 17: he sounds good. They're like, so that you can join

1941
01:30:57,160 --> 01:30:59,559
Speaker 17: our army and fight, and I'm like, oh, yeah.

1942
01:30:59,439 --> 01:31:02,120
Speaker 3: Yeah, you don't need the vaccine because you're healthy.

1943
01:31:02,200 --> 01:31:04,320
Speaker 17: Yeah yeah, yeah, yeah, eat lots of meat and don't

1944
01:31:04,320 --> 01:31:04,600
Speaker 17: cook it.

1945
01:31:04,640 --> 01:31:05,600
Speaker 3: And I'm like, well, you know, I want to well

1946
01:31:05,680 --> 01:31:09,599
Speaker 3: that's okay, I'm okay with that, and don't eat vegetable

1947
01:31:09,640 --> 01:31:12,000
Speaker 3: oils and all that seed oils are bad for you anyway.

1948
01:31:12,200 --> 01:31:14,640
Speaker 3: So the point of it simply is that if you

1949
01:31:14,920 --> 01:31:17,320
Speaker 3: criticize the olt right movement, and this a fair amount

1950
01:31:17,320 --> 01:31:18,920
Speaker 3: of criticism you want to level at them, one of

1951
01:31:18,960 --> 01:31:22,040
Speaker 3: the things you cannot criticize them for is the fantastic bodies.

1952
01:31:22,280 --> 01:31:24,800
Speaker 3: And I'll tell you what. If America needs something, it

1953
01:31:24,920 --> 01:31:27,160
Speaker 3: does need to tidy appitact on the food. So good

1954
01:31:27,200 --> 01:31:29,400
Speaker 3: on those two for doing this sixteen away from seven.

1955
01:31:29,680 --> 01:31:33,800
Speaker 1: Whether it's macro microbe or just plain economics, it's all

1956
01:31:33,920 --> 01:31:37,920
Speaker 1: on the Business hour with hither duplicy ellen ands for

1957
01:31:38,120 --> 01:31:41,960
Speaker 1: trusted home insurance solutions, use talks be hither.

1958
01:31:42,040 --> 01:31:43,840
Speaker 3: Did you see the Greens co leaders holding up their

1959
01:31:43,880 --> 01:31:46,479
Speaker 3: big placards up the teachers in the house today? They

1960
01:31:46,520 --> 01:31:48,560
Speaker 3: made food fools of themselves? No clear I did not.

1961
01:31:49,200 --> 01:31:51,559
Speaker 3: But what doesn't surprise me that they're doing it because

1962
01:31:51,560 --> 01:31:53,800
Speaker 3: they're being one up? Aren't they bother Maori party who

1963
01:31:53,800 --> 01:31:55,600
Speaker 3: are doing stunts in parliaments? So now they're trying to

1964
01:31:55,640 --> 01:31:57,519
Speaker 3: do stunts in parliament too. It's not going to end.

1965
01:31:57,640 --> 01:31:59,120
Speaker 3: These two are just going to drive each other to

1966
01:31:59,200 --> 01:32:02,880
Speaker 3: higher heights. Imagine and more Solly behavior thirteen away from

1967
01:32:02,880 --> 01:32:06,960
Speaker 3: Stephen Gavin Gray UK corresponds with us now Hikevin hither

1968
01:32:07,120 --> 01:32:09,040
Speaker 3: hell right? So how much trouble do you reckon the

1969
01:32:09,080 --> 01:32:11,120
Speaker 3: government sin with these asylum hotels?

1970
01:32:12,280 --> 01:32:14,320
Speaker 24: Well, I do think it's going to lead now to

1971
01:32:14,640 --> 01:32:18,880
Speaker 24: a whole load of councils, following an initial council and

1972
01:32:19,040 --> 01:32:22,640
Speaker 24: its successful appeal in court, that other councilors will now

1973
01:32:22,760 --> 01:32:25,320
Speaker 24: join in and try and get the hotels being used

1974
01:32:25,360 --> 01:32:29,400
Speaker 24: to house mail asylum seekers emptied of those asylum seekers.

1975
01:32:29,479 --> 01:32:33,040
Speaker 24: So what's happened a big High Court ruling which allowed

1976
01:32:33,120 --> 01:32:37,160
Speaker 24: the council in Epping, that's Essex in southeast England to

1977
01:32:37,560 --> 01:32:42,000
Speaker 24: force out the asylum seekers in one particular hotel, The

1978
01:32:42,360 --> 01:32:45,360
Speaker 24: Bell Hotel has seen over the last few weeks thousands

1979
01:32:45,400 --> 01:32:49,679
Speaker 24: of people protests outside, both those in support of migrants.

1980
01:32:49,760 --> 01:32:51,559
Speaker 24: It has to be said, but I think the vast

1981
01:32:51,640 --> 01:32:55,799
Speaker 24: majority saying we should not be having in a hotel

1982
01:32:55,840 --> 01:32:58,720
Speaker 24: which has a license to be a hotel single mail

1983
01:32:58,760 --> 01:33:02,840
Speaker 24: asylum seekers. Nobody's done any security checks on and all

1984
01:33:02,920 --> 01:33:06,200
Speaker 24: this came about incidentally really because an asylum seeker living

1985
01:33:06,280 --> 01:33:09,720
Speaker 24: there was charged with sexually assaulting a fourteen year old

1986
01:33:09,800 --> 01:33:14,040
Speaker 24: girl and another asylum seeker there. Assyrian has been charged

1987
01:33:14,120 --> 01:33:19,040
Speaker 24: with assault and common assault with four alleged victims in

1988
01:33:19,200 --> 01:33:21,559
Speaker 24: that case as well as you can imagine a great

1989
01:33:21,600 --> 01:33:24,200
Speaker 24: deal of all feeling by local people over those cases.

1990
01:33:24,479 --> 01:33:26,920
Speaker 24: They went to court with the council to say they

1991
01:33:26,960 --> 01:33:30,120
Speaker 24: shouldn't be there, and amazingly they won. Now the thing

1992
01:33:30,280 --> 01:33:33,040
Speaker 24: is for the government. They're using two hundred and ten

1993
01:33:33,160 --> 01:33:37,479
Speaker 24: hotels across the country housing thirty two thousand asylum seekers.

1994
01:33:37,760 --> 01:33:40,360
Speaker 24: So if the courts begin to be full of councils

1995
01:33:40,439 --> 01:33:43,160
Speaker 24: winning this battle, it's going to be very difficult for

1996
01:33:43,240 --> 01:33:46,120
Speaker 24: the government to find somewhere for those people to live.

1997
01:33:46,560 --> 01:33:49,960
Speaker 24: That said, this was thought to be an exceptional case

1998
01:33:50,080 --> 01:33:53,880
Speaker 24: because of those two ongoing court cases relating to this

1999
01:33:54,280 --> 01:33:55,719
Speaker 24: asylum seeking hotel.

2000
01:33:56,520 --> 01:33:58,200
Speaker 3: You guys worried about inflation.

2001
01:33:59,439 --> 01:34:03,599
Speaker 24: Yes, it is something that is climbing. So the latest

2002
01:34:03,640 --> 01:34:07,519
Speaker 24: figure is up to three point eight percent, driven mainly

2003
01:34:07,680 --> 01:34:10,720
Speaker 24: by a jump in the price of airfares. But that

2004
01:34:11,120 --> 01:34:13,640
Speaker 24: means that inflation is now at the highest level for

2005
01:34:13,760 --> 01:34:17,200
Speaker 24: eighteen months, and let's not forget the target of the

2006
01:34:17,280 --> 01:34:21,599
Speaker 24: Bank of England is two percent. The UK therefore continues

2007
01:34:21,640 --> 01:34:23,519
Speaker 24: to have the highest rate of inflation in the G

2008
01:34:23,720 --> 01:34:28,000
Speaker 24: seven actually by quite some way. America comes second.

2009
01:34:28,840 --> 01:34:29,720
Speaker 2: So what caused this?

2010
01:34:29,840 --> 01:34:31,840
Speaker 24: What I mentioned in the airfares, But let's not forget

2011
01:34:31,920 --> 01:34:36,679
Speaker 24: the basic costs. Food, non alcoholic beverages have all pushed

2012
01:34:36,720 --> 01:34:39,200
Speaker 24: up prices and there's been quite a steep rise in

2013
01:34:39,280 --> 01:34:41,800
Speaker 24: the cost of eating out. Part of that is said

2014
01:34:41,840 --> 01:34:45,840
Speaker 24: because of the government's own taxes about how the employer

2015
01:34:46,320 --> 01:34:49,680
Speaker 24: has to pay a tax on each employe. Now, the

2016
01:34:49,760 --> 01:34:52,720
Speaker 24: Bank of England does forecast inflation will peak higher at

2017
01:34:52,840 --> 01:34:56,400
Speaker 24: four percent that then begin to drop. But don't forget

2018
01:34:56,520 --> 01:34:59,840
Speaker 24: they just recently reduced interest rates, which will be a

2019
01:35:00,160 --> 01:35:02,320
Speaker 24: in an inflation generator.

2020
01:35:03,240 --> 01:35:05,840
Speaker 3: Now do you think it was a smart move to

2021
01:35:05,920 --> 01:35:07,200
Speaker 3: cut the Space Agency?

2022
01:35:08,800 --> 01:35:12,200
Speaker 24: A very unusual move and it's kind of I think

2023
01:35:12,240 --> 01:35:15,840
Speaker 24: the governments tried to put this out frankly when there's

2024
01:35:15,880 --> 01:35:18,479
Speaker 24: lots of other news about and it might not quite

2025
01:35:18,600 --> 01:35:21,519
Speaker 24: make the headlines, but it has. The UK Space Agency

2026
01:35:21,600 --> 01:35:24,880
Speaker 24: is going to cease to exist as an independent ender tee.

2027
01:35:25,200 --> 01:35:29,600
Speaker 24: It'll be coming under the Department for Science, Innovation and Technology.

2028
01:35:29,960 --> 01:35:33,439
Speaker 24: The space sector here does generate roughly forty two billion

2029
01:35:33,520 --> 01:35:37,200
Speaker 24: New Zealand dollars a year. It employs fifty five thousand people.

2030
01:35:37,520 --> 01:35:40,200
Speaker 24: Of course, we've only ever sent one person into space

2031
01:35:40,320 --> 01:35:44,160
Speaker 24: tim Peak, but from the UK. But nevertheless, there is

2032
01:35:44,200 --> 01:35:47,360
Speaker 24: a big program in the space sector here and many

2033
01:35:47,439 --> 01:35:51,320
Speaker 24: scientists think this is a backward move, believe that although

2034
01:35:51,400 --> 01:35:54,000
Speaker 24: the government's saying it will save money, cut duplication in

2035
01:35:54,080 --> 01:35:58,040
Speaker 24: shore ministerial oversight, others saying we will lose focus on

2036
01:35:58,200 --> 01:36:01,200
Speaker 24: this sector in which Britain is doing well and growing

2037
01:36:01,720 --> 01:36:03,599
Speaker 24: and could lead at least to a couple of years

2038
01:36:03,600 --> 01:36:04,200
Speaker 24: of stagnation.

2039
01:36:05,120 --> 01:36:07,920
Speaker 3: Gavin, thank you, appreciate it. Gavin Gray, UK, corresponding, I

2040
01:36:07,960 --> 01:36:09,600
Speaker 3: couldn't decide if I wanted if I thought it was

2041
01:36:09,600 --> 01:36:11,599
Speaker 3: a good idea or not, because I love cutting a ministry,

2042
01:36:12,000 --> 01:36:13,479
Speaker 3: but I feel like that might be one that you

2043
01:36:13,640 --> 01:36:15,839
Speaker 3: need more than, let's say, I don't know, a women's

2044
01:36:15,920 --> 01:36:19,520
Speaker 3: ministry or something like that. Open AI, which is responsible

2045
01:36:19,560 --> 01:36:21,920
Speaker 3: for chat GPT, is apparently on the cusp of becoming

2046
01:36:21,960 --> 01:36:25,400
Speaker 3: the world's most valuable private company. So apparently open ai

2047
01:36:25,600 --> 01:36:27,760
Speaker 3: is and talks to sell about six billion dollars. This

2048
01:36:27,880 --> 01:36:31,280
Speaker 3: is US dollars and shares. If they go ahead and

2049
01:36:31,400 --> 01:36:33,840
Speaker 3: do that, it would possibly boost its valuation to about

2050
01:36:33,840 --> 01:36:36,920
Speaker 3: five hundred billion dollars. Now, if that happens, then it

2051
01:36:37,080 --> 01:36:41,519
Speaker 3: is more valuable than SpaceX, which Elon Musk privately holds,

2052
01:36:41,520 --> 01:36:43,759
Speaker 3: which has valued at three hundred and fifty billion dollars.

2053
01:36:43,920 --> 01:36:46,799
Speaker 3: Eight away from seven, it's the heather.

2054
01:36:46,640 --> 01:36:50,360
Speaker 1: Too for see Alan Drive Full Show podcast on iHeartRadio

2055
01:36:50,600 --> 01:36:52,040
Speaker 1: powered by newstalg Zebbi.

2056
01:36:54,280 --> 01:36:56,280
Speaker 3: Six away from seven. Listen, you know how earlier on

2057
01:36:56,439 --> 01:36:59,920
Speaker 3: we were talking about whether Nikola Willis is in trouble

2058
01:37:00,479 --> 01:37:03,639
Speaker 3: or not. I think more the former than the latter,

2059
01:37:04,000 --> 01:37:06,800
Speaker 3: although what that trouble eventually ends up with is we

2060
01:37:06,880 --> 01:37:09,800
Speaker 3: can debate that. But still anyway on that subject, the

2061
01:37:09,920 --> 01:37:13,560
Speaker 3: Taxpayers Union clearly have her in their sights. They have

2062
01:37:13,720 --> 01:37:16,360
Speaker 3: just put out a statement where they say Nicki is

2063
01:37:16,439 --> 01:37:19,680
Speaker 3: being tricky with underhanded swipe at the Taxpayers Union. Now,

2064
01:37:19,760 --> 01:37:21,800
Speaker 3: mark my words, doesn't take a long time for Nicky

2065
01:37:21,840 --> 01:37:25,560
Speaker 3: as being tricky to become tricky Nicky. Watch watch what

2066
01:37:25,680 --> 01:37:28,120
Speaker 3: happens here, because if she's going to start, if they're

2067
01:37:28,160 --> 01:37:29,519
Speaker 3: going to have a fight with each other, that's not

2068
01:37:29,640 --> 01:37:31,800
Speaker 3: very good for Nikola Willis. I would have thought, now,

2069
01:37:32,520 --> 01:37:34,160
Speaker 3: if you're looking for a job, if you're in Wellington

2070
01:37:34,200 --> 01:37:37,360
Speaker 3: and you're looking for a job, don't apply for the

2071
01:37:37,439 --> 01:37:40,640
Speaker 3: job that Tamotha Paul is advertising. Because Tamotha is out

2072
01:37:40,680 --> 01:37:44,000
Speaker 3: there looking for an executive assistant. She's a big, big deal.

2073
01:37:44,080 --> 01:37:46,760
Speaker 3: Now she's grown up. She needs an EA. So she's

2074
01:37:46,800 --> 01:37:49,000
Speaker 3: out there advertising for an EA. And she's had so

2075
01:37:49,400 --> 01:37:52,479
Speaker 3: many job applications because there is apparently eight thousand people

2076
01:37:52,479 --> 01:37:54,519
Speaker 3: who've lost their jobs in Wellington, which I don't think.

2077
01:37:55,240 --> 01:37:57,240
Speaker 3: I don't know, certainly not the government's fault for that,

2078
01:37:57,360 --> 01:38:00,600
Speaker 3: But Tamitha thinks it's the government's fault that there's not

2079
01:38:00,720 --> 01:38:03,360
Speaker 3: really any jobs out there because they have been gutted

2080
01:38:03,400 --> 01:38:10,200
Speaker 3: by the Duke government. Anyway, it is the government's faults.

2081
01:38:10,320 --> 01:38:13,160
Speaker 3: She would love to give everybody a job, but unfortunately

2082
01:38:13,280 --> 01:38:17,280
Speaker 3: she can't because capitalism is real and the economy is real,

2083
01:38:17,400 --> 01:38:19,800
Speaker 3: and you know, they still haven't managed to get their

2084
01:38:19,880 --> 01:38:22,960
Speaker 3: hooks into everything and make jobs for eight thousand EA's

2085
01:38:23,200 --> 01:38:25,880
Speaker 3: possible for her, just really quickly. You know that that

2086
01:38:26,600 --> 01:38:28,400
Speaker 3: book I was telling you about, the Prince Andrew book,

2087
01:38:28,680 --> 01:38:31,320
Speaker 3: Well it has been forced now to remove a reference

2088
01:38:31,360 --> 01:38:34,439
Speaker 3: to Milania Trump. Remember this. Milania the other day announced

2089
01:38:34,439 --> 01:38:37,479
Speaker 3: she was going to sue Hunter Biden for saying something well,

2090
01:38:37,560 --> 01:38:40,120
Speaker 3: what he said was in the book, and he said

2091
01:38:40,160 --> 01:38:44,599
Speaker 3: that Epstein had introduced Donald Trump to Milania. They published

2092
01:38:44,640 --> 01:38:48,120
Speaker 3: the allegation in around sixty thousand copies of this book

2093
01:38:48,160 --> 01:38:50,640
Speaker 3: by Andrew Lowney. The passage is now going to be

2094
01:38:50,840 --> 01:38:53,040
Speaker 3: so it's already in these books, but it'll be deleted

2095
01:38:53,040 --> 01:38:55,320
Speaker 3: from the future editions. And the ebook and the audiobooks

2096
01:38:55,360 --> 01:38:58,080
Speaker 3: have been updated to reflect the changes. So there you go. Ants.

2097
01:38:58,360 --> 01:39:00,800
Speaker 17: Oh you just turned those first six thousand books and

2098
01:39:00,840 --> 01:39:02,000
Speaker 17: the collector's items.

2099
01:39:01,720 --> 01:39:04,040
Speaker 3: One hundred percent. Yeah, they'll be worth a lot now. Excellent.

2100
01:39:04,920 --> 01:39:07,400
Speaker 17: So The Wire by David Dallas and Ruby Frost to

2101
01:39:07,439 --> 01:39:09,560
Speaker 17: play us out tonight. David Dallas is going to be

2102
01:39:09,640 --> 01:39:13,560
Speaker 17: the special guest at High Tide Festival in Wellington in November.

2103
01:39:13,720 --> 01:39:16,479
Speaker 17: The lineup's been announced today. It's going to be held

2104
01:39:16,520 --> 01:39:21,519
Speaker 17: in White Tonguey Park on November the night. The rest

2105
01:39:21,560 --> 01:39:23,080
Speaker 17: of the lineup is all drumming bass, so I thought

2106
01:39:23,120 --> 01:39:24,519
Speaker 17: we'd go out with David Dallas instead.

2107
01:39:25,320 --> 01:39:26,720
Speaker 3: Oh, why do you think we can't handle a bit

2108
01:39:26,720 --> 01:39:27,280
Speaker 3: of drum bass.

2109
01:39:27,400 --> 01:39:28,960
Speaker 17: I just feel like the audience I have to be

2110
01:39:29,000 --> 01:39:30,519
Speaker 17: careful when I play drumm based for them and not

2111
01:39:30,600 --> 01:39:31,080
Speaker 17: do it too much.

2112
01:39:31,200 --> 01:39:32,960
Speaker 3: No, this is fair. I think this is fair. It's

2113
01:39:33,000 --> 01:39:35,080
Speaker 3: not the z B audience. It's just normal human beings.

2114
01:39:35,200 --> 01:39:37,160
Speaker 3: I think you will find, which is to say you're

2115
01:39:37,200 --> 01:39:39,640
Speaker 3: not normal and we'll give music taste. Thank you very much,

2116
01:39:39,880 --> 01:39:41,160
Speaker 3: but this is this is a good choice for me.

2117
01:39:41,280 --> 01:39:43,360
Speaker 3: Thank you all right, See you tomorrow New Still TV.

2118
01:39:43,520 --> 01:39:46,599
Speaker 23: If you get carry your film, if you've never been starved.

2119
01:39:46,680 --> 01:39:49,240
Speaker 23: Robert pot a couple large on it gone with Florida

2120
01:39:49,320 --> 01:39:52,040
Speaker 23: asking not thought up, be happy with the andis in

2121
01:39:52,120 --> 01:39:54,639
Speaker 23: your god it ran I had to leave them behind,

2122
01:39:54,800 --> 01:39:56,799
Speaker 23: although we got along trains.

2123
01:39:56,840 --> 01:39:59,160
Speaker 5: We've been in zect to read the rock ran O.

2124
01:40:00,000 --> 01:40:01,600
Speaker 2: I'll live with it.

2125
01:40:01,760 --> 01:40:05,000
Speaker 23: Do play some good deep events, stick with it, don't

2126
01:40:05,160 --> 01:40:06,559
Speaker 23: best save for my life.

2127
01:40:06,760 --> 01:40:07,640
Speaker 2: I'll sit with it.

2128
01:40:07,800 --> 01:40:11,240
Speaker 23: Don't pain upon may stage a broad tricky stoke, and

2129
01:40:11,400 --> 01:40:14,080
Speaker 23: I can't do so though I know it's such a

2130
01:40:14,200 --> 01:40:16,680
Speaker 23: long way down, but such a long way now that

2131
01:40:16,880 --> 01:40:17,479
Speaker 23: I've forgotten.

2132
01:40:17,560 --> 01:40:21,040
Speaker 16: Your wife's with the pup nest is the only things to.

2133
01:40:21,360 --> 01:40:28,840
Speaker 2: Meet For more from Hither Duplessy Allen Drive.

2134
01:40:29,040 --> 01:40:32,320
Speaker 1: Listen live to news talks it'd be from four pm weekdays,

2135
01:40:32,560 --> 01:40:34,720
Speaker 1: or follow the podcast on iHeartRadio.