1
00:00:00,560 --> 00:00:03,080
Speaker 1: Tory Farno has delivered her valedictory speech.

2
00:00:03,120 --> 00:00:05,160
Speaker 2: We will deal with that shortlets thirteen away from five

3
00:00:05,200 --> 00:00:07,520
Speaker 2: and barries so for senior political correspondence in studio.

4
00:00:07,640 --> 00:00:09,800
Speaker 1: Okay, the ocr what did you make of this?

5
00:00:10,520 --> 00:00:14,080
Speaker 3: Well, I think what it did do was vindicate the

6
00:00:14,160 --> 00:00:20,560
Speaker 3: two on the Monetary Statement Committee that they voted for

7
00:00:21,720 --> 00:00:25,159
Speaker 3: fifty basis points last time round. And really what it

8
00:00:25,239 --> 00:00:28,240
Speaker 3: shows is that the Reserve Bank has been lagging behind

9
00:00:28,280 --> 00:00:32,919
Speaker 3: the economy. What it should be doing is injecting impetus

10
00:00:32,960 --> 00:00:35,400
Speaker 3: into the economy. And I think what it goes to

11
00:00:35,440 --> 00:00:39,159
Speaker 3: show hither is just how powerful the Reserve Bank is.

12
00:00:39,440 --> 00:00:41,920
Speaker 3: I mean, you know, we heard Adrian All saying he

13
00:00:42,000 --> 00:00:44,559
Speaker 3: is going to engineer a recession. He didn't know he's

14
00:00:44,600 --> 00:00:47,080
Speaker 3: going to engineer a couple of recessions. It could be,

15
00:00:48,080 --> 00:00:50,360
Speaker 3: so I say, good riddance, and now we've sort of

16
00:00:50,400 --> 00:00:53,280
Speaker 3: moved on from that. I've got to say the Finance

17
00:00:53,320 --> 00:00:56,480
Speaker 3: Minister was beaming from here to air after the announcement,

18
00:00:56,600 --> 00:01:00,840
Speaker 3: saying it's obviously great news for homo owners with mortgages

19
00:01:01,600 --> 00:01:03,040
Speaker 3: and for the economy in general.

20
00:01:03,280 --> 00:01:05,480
Speaker 4: What we know is that over the next six months

21
00:01:05,720 --> 00:01:08,600
Speaker 4: around half of mortgage debt will roll off a high

22
00:01:08,680 --> 00:01:11,800
Speaker 4: interest rate, giving those people an opportunity for a lower

23
00:01:11,800 --> 00:01:15,120
Speaker 4: interest rate. So what that suggests is that we are

24
00:01:15,160 --> 00:01:17,920
Speaker 4: not yet feeling the full effect of interest rate reductions

25
00:01:17,959 --> 00:01:19,680
Speaker 4: that have already happened, and we should be able to

26
00:01:19,720 --> 00:01:22,480
Speaker 4: see accelerating relief over the coming months. The reason I

27
00:01:22,520 --> 00:01:24,640
Speaker 4: care about lower interest rates is I know that in

28
00:01:24,680 --> 00:01:27,520
Speaker 4: every economy in the world where you have lower interest rates,

29
00:01:27,720 --> 00:01:30,560
Speaker 4: people do better, and that's what we were elected to see.

30
00:01:30,720 --> 00:01:33,520
Speaker 3: And stepping up to the mic just after Nichola Willis

31
00:01:33,640 --> 00:01:37,399
Speaker 3: was Labour's Barbara Edmunds. She was also enthusiastic about the

32
00:01:37,440 --> 00:01:41,640
Speaker 3: ocr drop today, saying she hopes it'll see inflation coming

33
00:01:41,640 --> 00:01:44,160
Speaker 3: down and making things generally more affordable.

34
00:01:44,560 --> 00:01:46,880
Speaker 5: I'm comfortable seeing inflation coming down so that people can

35
00:01:46,920 --> 00:01:49,360
Speaker 5: afford food on their table. My concern again is that

36
00:01:49,400 --> 00:01:52,520
Speaker 5: inflation is biting hard on Kiwis who are feeling it

37
00:01:52,640 --> 00:01:55,360
Speaker 5: the most, and that's really at the grocery and in

38
00:01:55,400 --> 00:01:57,279
Speaker 5: those administered costs which they can't avoid.

39
00:01:57,880 --> 00:02:02,160
Speaker 3: Yeah, and in the house it's of heather with lower

40
00:02:02,160 --> 00:02:06,120
Speaker 3: interest rates and more money flowing. The question Labors Chris

41
00:02:06,160 --> 00:02:09,040
Speaker 3: Hopkins asked the Prime Minister today would seem to be

42
00:02:09,080 --> 00:02:10,200
Speaker 3: a foregone conclusion.

43
00:02:10,480 --> 00:02:13,320
Speaker 6: Mister speaker when he's been out and about why hasn't

44
00:02:13,320 --> 00:02:16,640
Speaker 6: he been talking to the businesses who say that hiring

45
00:02:16,760 --> 00:02:19,320
Speaker 6: staff is not their primary constraint for growth, given that

46
00:02:19,440 --> 00:02:23,040
Speaker 6: only four percent are saying that, whilst sixty three percent

47
00:02:23,160 --> 00:02:26,760
Speaker 6: of businesses, according to Enzi, are saying their real problem

48
00:02:27,000 --> 00:02:28,120
Speaker 6: is not enough customers.

49
00:02:28,400 --> 00:02:31,239
Speaker 7: Well, the economy has been in a recession caused by

50
00:02:31,720 --> 00:02:34,840
Speaker 7: your reckless spending. You put the country into the biggest

51
00:02:34,840 --> 00:02:38,480
Speaker 7: recession in thirty five years. You've created the longest COVID

52
00:02:38,520 --> 00:02:42,000
Speaker 7: hangover of any in the western world. You actually made

53
00:02:42,000 --> 00:02:44,520
Speaker 7: sure that you tripled the debt for goodness sake, and

54
00:02:44,560 --> 00:02:47,160
Speaker 7: we now have a ten billion dollar interest bill. We're

55
00:02:47,240 --> 00:02:49,520
Speaker 7: cleaning up the labor government's mess.

56
00:02:49,560 --> 00:02:51,880
Speaker 3: It's that simple, and I guess we're all hoping that

57
00:02:51,919 --> 00:02:55,280
Speaker 3: mess will be finally behind us at some stage. Heaven.

58
00:02:55,840 --> 00:02:58,400
Speaker 3: The interst rate bill for the government is going to

59
00:02:58,440 --> 00:02:59,520
Speaker 3: take a lot more time to.

60
00:03:00,360 --> 00:03:03,200
Speaker 1: How much trouble at luxem and Willison with a pole

61
00:03:03,200 --> 00:03:04,120
Speaker 1: that puts them now in the.

62
00:03:04,080 --> 00:03:08,400
Speaker 3: Twos Yes, I know, well just twenty nine point six percent.

63
00:03:09,600 --> 00:03:12,360
Speaker 3: You know, statistical margin of era is three percent but

64
00:03:13,000 --> 00:03:15,120
Speaker 3: having said that, it's not a good result for the

65
00:03:15,160 --> 00:03:18,400
Speaker 3: government clearly, and I think it bears out what the

66
00:03:19,400 --> 00:03:23,760
Speaker 3: general mood of the populace has been saying that things

67
00:03:23,760 --> 00:03:25,919
Speaker 3: are not looking good. The cost of living's too much.

68
00:03:26,000 --> 00:03:29,760
Speaker 3: That's the main concern in this poll. The economy second,

69
00:03:29,880 --> 00:03:33,880
Speaker 3: and you know, the Labor Party is slightly ahead and

70
00:03:33,919 --> 00:03:36,840
Speaker 3: the center left would be the government of an election

71
00:03:37,040 --> 00:03:40,640
Speaker 3: was held today, but center left with the Maori Party

72
00:03:41,160 --> 00:03:43,440
Speaker 3: and the Greens. The Greens lifted their rating as well,

73
00:03:43,480 --> 00:03:45,880
Speaker 3: I think, to twelve percent. So you know, I don't

74
00:03:45,920 --> 00:03:47,920
Speaker 3: know where they get all the support from, but they're

75
00:03:47,960 --> 00:03:50,720
Speaker 3: getting it. And Whatston Peters the biggest when they're in

76
00:03:50,720 --> 00:03:51,720
Speaker 3: those two point five percent.

77
00:03:51,760 --> 00:03:54,080
Speaker 2: Look, it's protest numbers, right if it actually came to voting.

78
00:03:54,240 --> 00:03:56,000
Speaker 2: I don't know that the country is ready to re

79
00:03:56,080 --> 00:03:58,080
Speaker 2: elect Chippy because Chippy is part of.

80
00:03:58,000 --> 00:04:00,120
Speaker 1: The one of the biggest reasons that we are in

81
00:04:00,160 --> 00:04:01,280
Speaker 1: the situation that we're in.

82
00:04:01,480 --> 00:04:05,120
Speaker 3: But do does the voter have the memory? Yeah?

83
00:04:05,200 --> 00:04:06,960
Speaker 1: I think so, I think so.

84
00:04:07,080 --> 00:04:09,440
Speaker 2: I think the greater threat I still think the right

85
00:04:09,480 --> 00:04:11,400
Speaker 2: block wins, but I think the greater threat is that

86
00:04:11,440 --> 00:04:14,200
Speaker 2: the right block wins with the National Party much diminished

87
00:04:14,520 --> 00:04:16,280
Speaker 2: and the two supporting parties act in New Zealand.

88
00:04:16,279 --> 00:04:17,240
Speaker 1: First figure, don't you think?

89
00:04:17,400 --> 00:04:17,760
Speaker 3: Well?

90
00:04:18,640 --> 00:04:19,640
Speaker 1: And that calls bar I mean, just.

91
00:04:19,600 --> 00:04:21,720
Speaker 2: Think about the mechanism here, the mechanics of this right

92
00:04:21,800 --> 00:04:23,640
Speaker 2: that causes problems because then you've got a whole bunch

93
00:04:23,680 --> 00:04:26,560
Speaker 2: of National MPs in seats who losing on the list,

94
00:04:26,560 --> 00:04:28,120
Speaker 2: who losing that and want to lose their business.

95
00:04:28,320 --> 00:04:29,160
Speaker 1: So then they do what.

96
00:04:29,600 --> 00:04:32,599
Speaker 3: Well, I'm not going to do that. The side of

97
00:04:32,640 --> 00:04:34,120
Speaker 3: the election has not doubt about that.

98
00:04:35,640 --> 00:04:40,320
Speaker 2: Okay, silence, I'm just leaving a pause. No, like leaving

99
00:04:40,320 --> 00:04:41,560
Speaker 2: a pause for dramatic effect.

100
00:04:41,640 --> 00:04:44,640
Speaker 3: It's like I said, though, whether the drop the ocr

101
00:04:44,800 --> 00:04:48,839
Speaker 3: by fifty basis points today? Was I right or was

102
00:04:48,880 --> 00:04:49,240
Speaker 3: I right?

103
00:04:49,839 --> 00:04:50,000
Speaker 4: No?

104
00:04:50,080 --> 00:04:52,680
Speaker 1: That you and yeah anyway, so then what did the

105
00:04:52,760 --> 00:04:54,479
Speaker 1: Greens do? Tell me about the Greens?

106
00:04:55,160 --> 00:04:57,599
Speaker 3: Well, Chloe Swarburg's been on the news a lot lately,

107
00:04:57,680 --> 00:05:00,919
Speaker 3: so today she was doing her best in Parliament, lecturing

108
00:05:01,000 --> 00:05:05,040
Speaker 3: the Prime Minister no less over the government's moves this

109
00:05:05,120 --> 00:05:07,360
Speaker 3: week against eighteen and nineteen year olds. On the doll

110
00:05:07,640 --> 00:05:08,120
Speaker 3: iss she is.

111
00:05:08,520 --> 00:05:12,600
Speaker 8: Does the Prime Minister understand the basic mass that if

112
00:05:12,600 --> 00:05:16,520
Speaker 8: there are four job seekers to every job that is available,

113
00:05:16,520 --> 00:05:20,240
Speaker 8: in this country. All of his cuts to job seeker

114
00:05:20,320 --> 00:05:26,800
Speaker 8: support couldn't hope to possibly punish people into ghost jobs,

115
00:05:27,240 --> 00:05:30,320
Speaker 8: but will only deepen poverty and homelessness.

116
00:05:30,880 --> 00:05:33,200
Speaker 2: Point of order, the Honorable David Symle.

117
00:05:32,920 --> 00:05:35,280
Speaker 8: Now that's not actually a question designed to get information

118
00:05:35,360 --> 00:05:36,000
Speaker 8: for the public.

119
00:05:36,040 --> 00:05:39,160
Speaker 7: It's an attempt at theater and making a speech. Well,

120
00:05:39,200 --> 00:05:42,359
Speaker 7: it'd be very clear attempts at theater are regular occurrency

121
00:05:42,440 --> 00:05:44,760
Speaker 7: this out on this side of the government. We care

122
00:05:44,800 --> 00:05:47,560
Speaker 7: about young people. We're not prepared to actually just have

123
00:05:47,640 --> 00:05:51,640
Speaker 7: them languishing and consign to welfare like a Labour Greens government.

124
00:05:52,360 --> 00:05:54,919
Speaker 3: Well, the pole says it could be one, but you

125
00:05:55,040 --> 00:05:55,920
Speaker 3: never waned Barry.

126
00:05:55,960 --> 00:05:58,320
Speaker 1: Thanks very much, Barry, so for seeing a political correspondent.

127
00:05:58,960 --> 00:06:02,120
Speaker 6: For more from Heather Duplessy, Allen Drive, listen live to

128
00:06:02,240 --> 00:06:02,760
Speaker 6: News Talks.

129
00:06:02,800 --> 00:06:05,960
Speaker 7: It'd be from four pm weekdays, or follow the podcast

130
00:06:06,080 --> 00:06:07,080
Speaker 7: on iHeartRadio.