June 6, 2025 • 40 mins
Jamie Mackay talks to Dame Alison Stewart, Dame Catriona Williams, Ben Picton, Christopher Luxon, and Jane Smith.
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Speaker 1 (00:00):
The best of the country with Rabobank.
Speaker 2 (00:02):
Choose the bank with one hundred and twenty years global
agribusiness experience.
Speaker 1 (00:06):
Grow with Rabobank.
Speaker 3 (00:09):
In John Summon, you know benybos Darley.
Speaker 4 (00:21):
That bird and the welcome said that shoudbody.
Speaker 5 (00:28):
The good Jarley, John, get a New Zealand and welcome
to the best of the Country. Brought to you by Rabobank.
The show's coming out of our Auckland studios today. A
bit of John dare Green, especially for our weekday sponsors
on the country. Brent, my name is Jamie McKay. The
(00:50):
show is brought to you by Rabobank. We are growing
better New Zealand together. I'm going to kick it off
with a couple of high profile New Zealanders recogniz and
the King's Birthday honors Dame Allison Stuart for services to
plant science and the arable sector and Dame Katrina Williams
for services to spinal injury research and equestrian sport. Ben
(01:13):
Pickton joins us or joined us midweek out of Rabobank's
Sydney office, looking at the OCR, the GDT and the OECD. Yes,
it was acronym day with him. The Prime Minister Christopher
Luxen telling Wokes to UK climate scientists to send their
letters to other countries. And Jane Smith North Otago farmer.
(01:36):
You never wonder well, you never die wondering what Jane's
thinking of. It's all on the best of the country
and it's brought to you by Rabobank kicking it off
with Dame Allison Stewart.
Speaker 2 (01:52):
The best of the country with Rabobank. Choose the bank
with a huge network of progressive farming clients Ravobank.
Speaker 5 (02:00):
King's Birthday Honors over the long weekend and it was
so good to see agriculture recognized at the highest echelons
in those King's Birthday Honors. Let's welcome on to the
show the newly minted Dame Allison Stewart for services well
basically the kind of plant breeding. It might not be
the sexiest industry alive, Allison, but it was so good
(02:22):
to see you and what you've done over forty years recognized.
Well done. I'm so proud of you.
Speaker 6 (02:28):
Yeah, I mean I have to see It's like anything
like when you're in you know, business or industry or
science for forty years, you don't achieve things in isolation.
So I'm actually really pleased to accept this honor, you know,
(02:48):
on behalf of all the plant scientists in the country
and all of the agricultural industry and particularly the adible sector,
who obviously I'm you know, I've been the CEO of
FAR for the last seven years. So I'm hoping that
people will all feel really proud of the fact that
(03:10):
one of us has got honored because normally it's politicians
and judges and sports people and media people and you
very rarely see, you know, an applied scientist and an
agricultural scientist up there. So I'll take one.
Speaker 1 (03:26):
For the team.
Speaker 5 (03:27):
Allison. Don't be too tough on the poor old media
people getting a gong, Monjue. This isn't your first gong.
You've got one back in Queen's Birthday Honors in two
thousand and nine.
Speaker 6 (03:37):
I did, yes, I know that one probably came as
a real surprise. I mean I was absolutely shocked and
I was convinced that it was just a scam, whereas
this one, I mean it's not that it wasn't a surprise,
but I think when you're at the end of your
career and you've done forty years and you've worked with
so many good people. I think you're more accepting of it,
(04:03):
and and I guess, you know, just really excited. I
just sort of think it's great and if it just
if it just increases the profiles, you know, of the
general public around you know, crop production, agricultural science, the
arable sector, then that's great.
Speaker 5 (04:21):
You've been here for forty years, You've still got a
strong Glaswigeian accent there.
Speaker 6 (04:26):
Well you might say it strong, but when I go
back to Scotland, they say, oh, you've lost your Scottish accent.
You sound like a Kiwi.
Speaker 5 (04:35):
So how did a young Allison Stewart these days, dime
Ellison Stewart end up in New Zealand from Scotland.
Speaker 6 (04:42):
When I finished my PhD, it was a time in
the UK when they were sort of they were disinvesting in,
you know, in seat of Agricultural Science, and I really
wanted to work for a death which was the advisory
so this from the UK, you know, agricultural advisory, and
(05:05):
I just couldn't, you know, there wasn't job opportunities and
I thought maybe I need to go overseas and get
some work experience and then just come back at some
stage and hopefully the opportunities you know, would be would
be there, and I don't know how I managed to
do it, but I managed to get a lecturing job
at Auckland University and featuring you know, plant pathology, crop protection,
(05:32):
and I guess that was it. I mean, I loved
New Zealand and you know, I got married, children and
I just decided that New Zealand was a really good
place to stay. And I've just built my career up.
And you know, I've worked in academia, I've worked in industry.
I've worked in a commercial company, I've worked in the
(05:54):
CRIS and I've worked across all of the different primary sectors.
So you know, I've been around the block.
Speaker 5 (06:04):
Dan Ellison Stewart with US awarded her Gong for services
to Plant science and the arable sector, and as you mentioned,
you are the chief executive of the Foundation for Arable Research.
Just to finish on what is the state of play
for the arable industry in New Zealand at the moment,
because I've got some mites so a cropping farm. As
they say, it's a bit tough out there.
Speaker 6 (06:24):
It is, it is, I mean, and that's not to
say it's not tough for all of the other sectors
as well. But you know, the arable sector is a
domestically focused sector, you know, so they don't have you know,
large export and crops and so when things are tight
(06:46):
worldwide and then it's very hard for the arable sector
to be able to compete with cheap imports. So it's
not easy, you know. And we've had some extreme weather
events that have affected yields. But the really, really good
thing about the addible sector is how resilient it is.
And I think the important thing is just to recognize
(07:09):
the role that it plays in New Zealand underpins you know,
and the livestock sector in New Zealand producing all of
the grass seed, and I just thought that the New
Zealand public recognize it and go out there and buy,
you know, products that have been made from New Zealand.
Speaker 5 (07:28):
Green good on your Dame Allison Stuart flying the flag
for the agriculture sector and the King's Birthday honors, well deserved,
Proud of it and love that accent.
Speaker 7 (07:39):
Go well, okay, thanks Jamie.
Speaker 2 (07:42):
The best of the country with rubber Bag the Bank
with local agri banking experts passionate about the future of
rural communities, rubber bag.
Speaker 5 (07:51):
So having a look at some of the high profile
rural people in this country who were recognized in the
King's Birthday honors. Here's one and this is absolutely richly deserved.
Katrina Williams, the founder and driving force behind the Catwalk
Spinal Cord Injury Trust since its establishment in two thousand
and five. And Katrina, like Dame Allison, I better call you,
(08:14):
Dame Katrina. Now you've sort of upsized your gone because
you've got a Queen's Birthday honor in twenty fourteen. A
good afternoon. Congratulations, very proud of you.
Speaker 8 (08:24):
Thanks so much, Jamie, and you're really proud of our
team at Catwalk. I'm still yet to work out he's
ho proply forward. I've asked a few, but I'm not
hitting the right person at the moment. But feel very
lucky that someone feels that we're worthy.
Speaker 5 (08:40):
Yeah, I wouldn't trust that Shane mcmanaway too far. He's
probably got his paws on this somewhere. I don't know.
I'm just having a guess on that one. And he
was honored a couple of years ago, and gee, his
was richly deserved. I want to go back to the
year two thousand and seven and our old mate, Sir
Brian Lahore, I called him to come down and be
(09:00):
the guest speaker at the Rugby Centenary in my hometown
of Riversdale, and I said, well, we're going to pay you.
And you know what he's like. He said, no, you're
not paying me. I said, well, we're going to pay somebody,
so you better come up with a good cause that
we can make a donation too. And he looked me
straight in the iron and he said, right done the
catwalk trust And I know you and him go back
a long way.
Speaker 8 (09:21):
Well, we do in the family J in the wire.
He has this beautiful manner about him and the big guys,
big hands, and I haven't I remember distinctly him coming
into hospital when I first broke my neck, and I
hadn't had many people in the room because you know,
we were still dealing with the shock of not being
(09:42):
able to move our body. And he came in and
when he left, I had these nurses around just just
about fainting. They couldn't believe that the Sir Brian had
walked into the room but too wire for people who
was always DJ and he just had this beautiful way
of making everyone ladays around him. Yet he's just could
(10:03):
pull a speech together like no other, and he's only
had three words on a page and yes we must
come dearly, and he was a great patron.
Speaker 5 (10:13):
Let's go back to two thousand and two and the
accident that puts you in a chair because you were
a champion equestrian. And I know you. I mean people
who meet you now or even in recent years. Your bouncy,
you're bubbly, you're vivacious. It's like you haven't got a
worry in the world. But that must have been brutal.
It must have been so tough at the.
Speaker 7 (10:32):
Time, Dammie.
Speaker 8 (10:34):
It was tough, and I'm not going to deny that.
It was a big looming curve personally. I you know,
as you said, week from writing show Jumpers Naveta's and
competing fight here and over in England and Europe and
just suddenly heavy, every part of your day managed by
somebody else. Even going to the low, having a shower,
(10:56):
coming into the pool, all of these things were not
at your call anymore. It was somebody else's posision. And
it was tough, and it still is tough. You know,
we've had a really adittrous fun tough for twenty two years,
but there was a great life and a chair. But
(11:17):
I'll be really honest, if I could to meet the
top and not ride that horse that day and know
that I'm twenty two years on my feet and I
always say I don't want to be bless. I just
want to be into the ins and on my face,
and I truly mean that. I also say along the lines,
if it meant that I had to slot up from Sam,
(11:40):
that I would do that as well, because I reckon
I could willn back again if I was on my feet.
But it's been tough, and I think anyone that goes
through a final could injury knows how tough it is.
Speaker 5 (11:52):
Let's talk about the reason why you've had your going
upgraded and why you're now Dame Katrina Williams. It's because
of the fundraising that you you have done for the
Spinal Cord Injury Trust. You're looking at something like ten
million dollars and you're well on your way. Am I
right in saying.
Speaker 8 (12:07):
That you're right? And I had to stop you because
you keep saying you and it's not me, anyone that
can see me. I've got leaf that don't work and
hands that it's pretty funny. We have the most incredible volunteers, supporters,
pain at catwalks that drive these fundraising initiatives that make
them happen, and we have all these people that actually
(12:29):
do them and put their names on the board. And
we've had so much fun. So in your marathon, we've
started with ever so we've hadled these beautiful black type
and parties. There all sorts of crazy initiatives that I
mean I even tried to do. It has traced on
once in Taraniki actually failed and ended up in and
I see you with hypothemia. But you know what, you've
(12:53):
got to have a go at these things. And you
know that's probably the biggest challenge with catwalks is that
apparently as a wheelie, when you break through me you
go into hospital, they bolt you that together and they
push you out the door. My challenge is to these
people with the brains, with the mouse, with the ability,
(13:13):
we want more. We want more than just wheeling around
the world. Yes, we can do that and use there
is a wonderful life to be had, but the ability
to pick up a child from on the floor and
give them a high, the ability to run across the
sand into the water. There's still something that I would
love to be able to do, and that's what care
(13:35):
also careful to raise money to some of the best
research that we can to get people back on their feet,
in my case dancing with my husband.
Speaker 5 (13:43):
Well on knowing you, it's something you will probably achieve.
You are so determined, You're wonderful. Dame Katrina Williams, congratulations,
richly deserved.
Speaker 7 (13:51):
Well done, Thank you very much, Janny, the.
Speaker 1 (13:55):
Best of the country with Rubbobank.
Speaker 2 (13:57):
Choose the bank with one hundred and twenty years global
agri business experience.
Speaker 1 (14:01):
Grow with Rubbobank.
Speaker 5 (14:03):
Everyone at Rabobank has a fancy title, and this man
is no exception. His name is Ben Pickton. He's a
senior macro strategist. That sort of means he's the chief economist. Ben.
Since we've last chatted, we've had a budget, we've had
a twenty five zero point two five percent cut in
the ocr and we've had a disappointing GDT auction. Overnight,
(14:24):
the world is starting to call its heels economy wise.
Speaker 9 (14:29):
Yeah, good a Jamie, it's good to chat again. Yeah,
I think it's fair to say that that is probably
the case. We're starting to see some growth downgrades flowing
through from the likes of the OECD. That's probably no
surprise given all of the uncertainties around the impacts of
tasks and the expected flow through to the supply side
(14:50):
of the economy from that. So we are seeing growth downgrades.
And when you have weaker growth around the world, it
probably means that there's going to be slightly les bid
for commodities, and maybe we're seeing that reflected in the
GDT overnight.
Speaker 5 (15:05):
Well, let's have a look at that OECD report. They've
slashed the annual growth report for the world economy and
they're blaming Trump's tariffs there, especially in the US. Growth
in the US this year was predicted to be two
point two percent now one point six percent. There's just
less money in the world's biggest economy, China, interestingly, is
(15:27):
predicted to go down from four point eight percent to
four point seven percent. Comparatively. That's a good result, but
we've got to remember China's coming off coming down from
a very high bar.
Speaker 9 (15:40):
Yeah, that's right. It's interesting some of those growth projections
around the United States because the data flow out of
the US recently has actually been reasonably strong for most
of the data. We do have a pretty important number
that's coming out at the end of the week, which
is the US non farm Payrolls report. That's effectively the
jobs report for the USA, and it will maybe give
(16:02):
economists around the world a little bit more of an
insight into whether this recession that lots of people have
been expecting in the USA is really on the way
or not. But yes, overall, if you've got slower growth
in the USA and slower growth in China, they are
the two largest economies in the world, there's going to
be less economic activity overall, and that presents some headwinds
(16:25):
for our export performance in this part of the world.
Speaker 5 (16:28):
The good newsers interest rates are dropping. The banks here
are starting off a bit of a mortgage war. How
low can these rates go? Ocr drop to three point
twenty five percent? We know there's another cut or twenty
five basis point cut factored, and could it go lower
than that if the world economy slows too much?
Speaker 9 (16:48):
Yeah, so it certainly could. Anything's possible. Our baseline forecast
is that we think that three percent is the bottom,
So we've got one more cut penciled in. We previously
that in our football cast for July, but we've pushed
that back to August now because the signal from the
RB and Z last week certainly seemed to be that
(17:10):
they think that they're pretty close to the end of
the cutting cycle. We had a bit of an extraordinary
circumstance where usually the decisions on the OCR are taken
by unanimous consent, but this time around they actually voted,
so there was a five to one split in favor
of a twenty five basis point cut, So one member
(17:32):
of the Monetary Policy Committee couldn't be convinced by all
of the others that cutting rates was the right thing
to do in May, so that's an interesting signal in itself.
So we think three percent, given what we know today,
is probably the bottom. But there's a massive amount of
uncertainty out there surrounding what the impact of tariff's will be,
(17:52):
what that will do to New Zealand's export performance, and
if the situation ends up being worse than what we
currently expect, there's certainly scope for more cups.
Speaker 5 (18:04):
You won't have seen the latest Federated Farmers Banking survey,
but it's been good news for Rabobank, you've come out
kind of on top, and certainly when it comes to
overdraft rates, you're doing a hell of a lot better
than some other banks what shall remain unnamed.
Speaker 9 (18:19):
Well, that's great news. I haven't seen those results, but
I'll put it out there and say I'm never surprised
when rabou Bank does well and these sorts of things.
Speaker 5 (18:28):
You would say that, Ben. You are coming over to
New Zealand next week for Field Days and you're going
to be one of the keynote speakers along with Finance
Minister Nikola Willis at the Rabobank client breakfast on Thursday morning.
Looking forward to listening to what you have to say.
Speaker 9 (18:43):
Yeah, I am coming over, so I'll be there in
the tent on Thursday morning, really looking forward to it.
I was at Seal Days last year and it was
a fantastic event, so it'll be good to be there
again this year and on the panel with the Minister.
Speaker 5 (18:58):
That's breakfast sorted for me on Thursday morning after a
big night out on Wednesday, no doubt. On the tron,
Ben pickt and I'll see.
Speaker 9 (19:06):
You then, ses Jamie.
Speaker 2 (19:07):
The best of the Country with Rabobank, Choose the Bank
with a huge network of progressive farming clients.
Speaker 1 (19:14):
Rabobank.
Speaker 3 (19:17):
They were farm kids, wait down in the in the cities.
Speaker 5 (19:24):
Everyone, it was on the Star, Get a New Zealand
and welcome back to the best of the country. As
we go country on your Saturday morning. My name's Jamie McKay.
The show's brought to you by Rabobank. We're growing a
better New Zealand together, playing the best bits of our
weekday show twelve to one. Well you've heard from Dame
Allison Stuart, Dame Katrina Williams and Ben Pickton out of Rabobank.
(19:49):
Up next Christopher Luxen. On Wednesday show he told Wokes,
the UK climate scientists to send their letters to other
countries after they accus the government of ignoring scientific evidence
over methane emissions. We also talked about Winston and David
seymour landcrpor New Zealand, posts to Sinder's book and field days.
(20:12):
We wrap it with North Otago farmer Jane Smith, Award
winning environmentalist as well. Hey talking about Rabobank. Their Rabobank
Good Deeds competition is underway right. It gives rural community
groups across New Zealand a chance to win a day's
labor and five thousand dollars in funding for their nominated
(20:32):
community project. Rural community groups are encouraged to submit their
projects for consideration via the rabobank website rabobank dot co
dot nz. The winning community group will receive a dedicated
days of day should I say of hands on support
from rabobank and its employees. The Rabobank staff love being
(20:54):
a part of this, plus the five thousand dollars cash
for your rural community pro As I said, enter it.
Rabobank dot co dot en z Up next on the
Best of the Country, brought to you by Rabobank The
PM M.
Speaker 2 (21:17):
The Best of the Country with Rabobank the bank with
local agribanking experts passionate about the future of rural communities.
Speaker 5 (21:24):
Rabobank Wednesdays on the Country The pm kicks off the show.
So here's the go Okay. More than twenty five international
climate change scientists have written an open letter to Christopher
Luxen accusing the government of ignoring scientific evidence. Christopher Luxeon,
I say to you, good on you for telling the
Wokes to UK climate scientists to send their letters to
(21:48):
other countries. That's good stuff.
Speaker 7 (21:50):
Well, I mean it's it's just like, I got no
time for it at all, because you know, we are
currently the most Carmen defficient farmers in the world. If
you shut down all of his own farming, you just
actually make global greenhouse gas emissions worse. It's the engine
room of the New Zealand economy. And the other cool
thing is, just like the last one hundred and fifty years,
we have an awesome pipeline of science and technology which
(22:11):
will help us be more productive and actually a lot
a lot more carbon efficient as well. So that's all
coming down the pike. It's for real, it's happening, and
so you actually want more production in New Zealand to
lower global greenhouse gas emission. So you know, so I
think we're getting into a world where we can say
we're the most carbon efficient. We've got a great science
(22:31):
technology through that we will actually be able to increase
production in this country. And that's where we should go
to when.
Speaker 5 (22:35):
You're going to set your methone targets.
Speaker 1 (22:38):
Shortly.
Speaker 7 (22:39):
Obviously, we've had two reviews, obviously one from the Climate Commission,
obviously an independent one. We've got other advice as well,
and we're close to that it'll be a matter of months,
a couple months.
Speaker 5 (22:49):
I watched One News last night as Mikey Sherman breathlessly
declared it a shock poll result, and I'm looking at
the results and thinking, well, Labor and nationally down a
couple of points. So NAT's are still at thirty four.
Where's the shock? And that the only shock that I
got was that twelve percent of the population is silly
enough to vote for the Greens alternate budget.
Speaker 7 (23:09):
Look, I think that's as full as this. There's poles
up the wazoo, right, and there's lots of different poles,
and they do different things, and they anyway, you can
argue that all day long. I literally do not care
about that stuff, because you know, we're elected in twenty
twenty three, and we'll get re elected again in twenty
twenty six, when New Zealanders have a chance to think
about it, and the choice will be pretty clear. You know,
we are you better off than you were three years ago?
(23:31):
Do you have people actually competent enough to run the
economy or are you going to throw the keys back
to the last experience we had with Labor and the
Greens into party Maori, And I just think you know,
my job is to stay very very focused on getting
stuff done for Keywis and sorting stuff out and cleaning
up the mess. And ultimately, if we do our job
right and we deliver, they'll make their decision. And that's
the only pole I care about.
Speaker 5 (23:52):
You realize your greatest allies are the Greens and Too Party.
Speaker 7 (23:55):
MARII, Well, I mean it's just I mean, you think
about it. You're serious a table. The alternative would be Hipkins,
Marrimc Davis and Chloe swarbrick Rollery. You know, wy Teddy,
You've got Demi a pack. Imagine the five of them
sitting around the cabinet room discussing economic policy. If you
thought it was bad with a sole charge labor government
that ran deet up one hundred and twenty billion dollars
(24:17):
in there for inflation and interesstrates and put us into recession,
just imagine the chaos that ensues with those five leaders
coming together. You know, we've got a three party coalition
and I think people, we've demonstrated people we can make
it work. Yeah, we have differences, but we agree a
lot on a large part of their Gendern't all right?
Speaker 5 (24:34):
How's the love and going with the government coalition because
while the old Winston you've got to hand it to him,
he said, to see more ol go deputy prime minister first,
you can go second. This is playing right into the
Winston Peter's handbook. I mean he's let off the chain
for the last eighteen months heading into the election.
Speaker 7 (24:51):
Look, I think what people as I said from day one,
we're doing something very different and this is the reality
of MMP. This morning, I've woken up and the Dutch
government has collapsed after a year with a four party coalition.
They have exactly the same system as us. Right, so
you know the reality is in Zealand, people rightly or
wrongly chose an MMP system. We've had several goals at
saying is that what you want? They've said yep. So
then they vote for us, and then we have to
(25:12):
make it work. And then you've got to try and
find a way to get coalition government to be as
stable as possible so that actually you can get things
done for New Zealanders. If you don't, you just keep
having elections every year. Basically is what happens around the
world with MMP type systems if they're unstable and so
the reality for us is, look, we agree on about
ninety five percent of the stuff, you know, grow the economy,
restore or in order better health education. There are differences
(25:34):
also between the parties, and I want enough space where everybody,
you know, Winston and David will say things different from me.
I lead the National Party obviously prime minister for a
coalition government, you know, and as minor parties they need
to know obviously have space to talk to their constituents,
and they do have difference, it's from us from time
to time. But you can manage that if you give
everyone enough space within that within that coalition government. And
(25:54):
I think that's what I'm proud of what we've built
so far.
Speaker 5 (25:57):
Samin Brown has warned Land Corp and ZAID Hosts that
they're not performing, and as we discussed last week, I
think there are some issues around Land Corp. They would
argue they're improving their performance, but should the government be
in the business of running a state farm.
Speaker 7 (26:13):
Well, what we've said is we wouldn't undertake our set
sales this three year period because essentially we need to
focus on getting the fundamentals fixed and sort of and right.
But Simeon's quite right to call these enterprises that the
government and the taxpayer Altimore has an interest and to
say we expect performance out of you as well. We're
expecting performance out of the public service, we expect performance
(26:33):
out of state owned enterprises as well. So, you know,
I think it's a really good shot to say, hang on,
we've got dairy and red meat.
Speaker 10 (26:40):
Now.
Speaker 7 (26:41):
Dairy's up four and a half billion and exports, red
meats up one point two billion, hawts up a billion
in exports in the last twelve months. We're making some
good progress and primary inties. If you can't run state
farms well in that environment, there's some serious questions to
be asked. So I think he's doing the right thing
by pushing and challenging them to perform better.
Speaker 5 (26:58):
Have you registered his book? Get Do you think she's
in denial over what kindness did to our economy? Or
was she misjudged?
Speaker 9 (27:06):
Look, I haven't read it.
Speaker 7 (27:08):
I frankly got other things I got to do and
sort out. I saw how the movie ended, and it
was a financial pain and chaos and nothing got delivered.
So you know that's my job is to, I guess,
deal with the aftermath of it all and that's what
we're fixing.
Speaker 5 (27:21):
It's not bad from the PR department. I saw how
the movie ended.
Speaker 7 (27:26):
That's how I feel about it.
Speaker 5 (27:27):
Do you focus group that?
Speaker 7 (27:29):
No, mate, we know have time. We've got a country
to sort out. They've got things to get fixed for people,
and we're cracking on.
Speaker 5 (27:38):
You have got time to go to field Days next week.
In fact, this time next week we'll be chatting at
field Days. What does Field Days mean for you?
Speaker 9 (27:46):
Oh?
Speaker 7 (27:46):
Look, I mean it's a fantastic event. And actually I
want it to get bigger and bigger. And I've actually,
when I've been overseas, been encouraging world leaders to come
down and so I was Britain trying to encourage the
Agriculture minister to come down not this year but next year.
I quite like us to think about what else we
could build around it, with respect to some of the
diplomacy stuff around our trade agenda, in particular, because I
(28:08):
think I want people understand we're the best in the world,
most carbon efficient in the world. But I'm looking forward.
There's a great science for farmers Hub what you might remember,
and it keeps getting bigger and better every year. There's
some really cool innovation and I love the innovation because
when you keep embracing innovation, that's how the sector keeps growing.
I think frankly, we saw it on wall you know,
thirty something years ago we stopped the levy, but obviously
(28:29):
we just stopped innovating as well. And so yeah, there's
things we can do around procuring wool and all that
good stuff. But actually that's a great product. We need
more innovation in that sectem Like we've seen in dairy
around some of the products that are now sold to
the world. Obviously, Rural Support Trust's going to catch up
with them. They do amazing work, and then just to
meet lots of keyweason Actually is interesting farmers I've spoken to.
(28:49):
I spoke to a guy down Timarus was like uptash
person and he was going off to buy a tractor
and a new header because he basically said, you know,
that investment boost stuff has gone down to treat and
in the rural community. So yeah, I'm just keen to
get a sense of now people hopefully've got confidence inflation's
low interest rates for coming down, the economies growing again,
export lead recovery, primary industries, and investment boost to encourage
(29:12):
people to buy new assets would be I'm keen to
see that working well.
Speaker 5 (29:17):
Catchu in seven days time, Prime Minister. Thanks for your time.
Speaker 9 (29:20):
Thanks may have a great way.
Speaker 7 (29:21):
You take care the.
Speaker 1 (29:22):
Best of the country with Rubboback.
Speaker 2 (29:25):
Choose the bank with one hundred and twenty years global
agribusiness experience Grow with Rubboback.
Speaker 5 (29:30):
Shares a North Otago farmer, former winner of the Balance
Farm Environment Towards Jane Smith joins us on the country. Jane,
I know you didn't hear the interview that we've just
played with the Prime Minister, but I say good on
Christopher Luxen for telling the Wokes to UK climate scientists
to send their letters to other countries after they'd written
an open letter to them complaining about US ignoring scientific
(29:55):
evidence when it came to reducing methane. What do you reckon?
Speaker 10 (30:00):
Good afternoon, Jamie. Well, that sounds like music's my ears actually,
and well done for no stop calling him lux flakes.
He really starts. It sounds like he's really the nill
On head there, and it's exactly what we've known for
a long time that New Zealand is forging its own
way in regards to this and simply what they had
to say was a lot of hot air. Of course,
in reality, it's just trying to take the heat off
(30:21):
what the EU hasn't done in terms of gross emissions,
in terms of fossil fuels. And again it's the unfortunate
news is for them, and this won't make an exciting headline,
is that we've already delivered. We are already delivering every
single day in terms of our methane emissions. And again
that doesn't sound exciting. But this unhinged obsession with naturally
(30:41):
food producing emissions needs to stop. I mean, of course
we've got a high per cap at a rate of
natural biogenic emissions. We've got a low population coupled with
high food productions. So and again that that is absolutely
needs to be put to bed. Isn't it strange Jamie
that methane seems more targeted these days than methane phetamine.
You know, we've got less three minutes in the world
(31:01):
now than we have before the Industrial revolution. As you know,
sheep down fifty eight percent twenty one year, twenty four
and so I'd love to extrapolate that out, Jamie, and
I will do that when I get some time actually,
to put that into the equivalent cars off the road,
and you know, farming New Zealand farmings that are real
crossroads at the moment. And I've been thinking about this
(31:21):
a lot lately. You know, we either go the nature
way or the more nuclear way. And the EU seems
to be absolutely, as I said, obsessed with this high
interference using man made energy and feed locked food production,
et cetera. And that couldn't get further away from where
I'm standing right now, Jamie, six hundred meters above sea level.
We're harnessing the sunlight and photosynthesis to produce pasta and
(31:45):
tender then to naturally raise protein. And New Zealand needs
to decide, Jamie, we're either claiming pasture feed naturally raised
or we are going down the road of you know,
the biotech feed editive unnecessary vaccines and boldnesses. Because actually
it's really what we're doing. And I'm not anti science
and progress. I want technology on the farm, so smart collars,
(32:07):
electronic tags, weighing systems, et cetera. But I don't want
technology in my food, you know, pasta or Peatrie just dished, Jamie.
We need to decide.
Speaker 5 (32:15):
Hey, have you seen I'm sure you've cast your eye
over at the Federated Farmer's the latest banking survey.
Speaker 10 (32:23):
Yes, I did see that, Jamie, and I know it
wasn't great reading back in December, and I see sort
of bounced up a bit since then. And I think
also I think the banks need to be careful they
don't take too much credit for it, because also farming
has changed a lot in terms of just the positivity
outdeas since it was as you compare it to pre Christmas.
(32:43):
I think the banks do have their tail between their legs,
which isn't a bad thing, because there's been a hell
of a mental health burden and it's probably been massively
underreported in terms of the structure of DEET and the
pressure from banks. But certainly I thought it's heading in
the right trajectory and the right direction. And also just
as callout has been really good, and so I congratulate
SAIDs for the work that they've done on that and
(33:05):
individuals that help them do that, and let's hope communication
and in that trust. We always say in our farming operation,
no matter who we deal with, be it a bank
or a VITA or a farm supplier, you're not always
going to get the best deal. All of the time,
but you want to know that they've got your back,
and especially in our foe producing non subsidized sector, we
(33:25):
need to know that because we're highly sensitive to all
of those scenarios in terms of pressure and pricing and
the cost of production, and so we want to have
that mutual trust and we have to head forwards and
our set to Jamie, the.
Speaker 5 (33:39):
Standout number for me was on overdraft interest rates. They've
dropped off the back of drops in the OCR obviously,
but Rabobank offered the lowest seven point three percent, b
and Z remains the highest at nine point seven percent.
How can there be effectively two and a half percent
difference between two banks? I call it profiteering.
Speaker 10 (34:01):
Yeah, it does seem really strange, Jamie. And of course
all the banks are there to make a profit, and
it is a little bit dangerous sometimes to be kept
comparing one off interest rates, et cetera. But it's again
that lack of trust because as farmers, we're just busy
trying to do the right thing, keep the GDP rolling
out in the farm. And to feel like you need
to be checking your interest rates against your neighbors and
other banks every single day is not a nice feeling.
(34:23):
And I think again banking has moved away from that
sort of personal factor at times to more of a
transactional one, and so we need to sort of bring
that back and actually bring the bankers into the fold.
And as I said that it all comes down to trust.
So yeah, hopefully it's onwards and up with Jamie, and
farmers just hopefully feel like they've got a little bit
(34:43):
more power, because it was also that power and balance
that was the really scary thing Jamie.
Speaker 5 (34:48):
Yeah, And to be fair, this banking survey, which was
carried out in May, was a response from seven hundred farmers,
so maybe a few described being z farmer clients may
have skewed the numbers away, but I still argue banks
across the board are ripping farmers and business people off
on OD rates.
Speaker 10 (35:08):
Oh exactly, Jamie, And we need to be very very
careful that we do push back on that. And again
I'll come back to those two words, trust and transparency.
Just as our consumers trust us to have transparency and
what we are producing, we actually need that trust in
house with those that we align ourselves with. So again,
take that the power farmers and make sure that we
(35:28):
are we are asking those hard questions because again, this
is going to make such a difference to our product
or a profitability, because our productivity is a country is
really concerning, and you see what's happening worldwide, it's the
same thing. We actually need to up our productivity and
all of these these climate change et cetera. Issues at banks,
(35:48):
and again that's actually increased their costs as well because
they've turned their mind to interfering in areas in people's
businesses that they should never have been in. You know
why banks were ever putting money into their the egritech
space in terms of aggri zero et cetera, which is
a venture capital scheme that is concerning. So to just
get out of that because all of those things are
(36:09):
the trojan horse. You look at the Paris Accord, the
land lost or forestation, et cetera, a trojan horse to
actually come up against our productivity. And you look at
the two thousand and tur undred and sixty thousand hiptes
that we've planted and pine trees. You know, it's not
the pine tree's fault. It's actually because we've signed up
to the Paris Accord and the methane Global methane targets,
(36:30):
et cetera. All of actually that work against our unique profile.
And mu zealmanth exactly what we'll see in that letter.
But turn it around the right way and say eachy
consumers and food producers are asking a lot more. And
it's interesting, Cameron Bergri said the other day. All the
fancy trade deals in the world are never going to
help if you run out of land, you run out
(36:51):
of stock, you run out of farmers, and those that
are remaining are never going to get a premium that's
large enough to be lumped with the extra cost of production.
So let's go back to basics and again I choose
pasture over a petrie dish.
Speaker 5 (37:04):
Okay, I think we know where you stand. Jane. Sorry,
I'm out of time. I would say I'll see you
at field Days, but I think you've got a ball
sale next week on your North Otago farm. Hey, thanks
as always for your time standing six hundred meters above
sea level.
Speaker 10 (37:17):
Thanks Jammy.
Speaker 2 (37:18):
The best of the country with Rabobank. Choose the bank
with a huge network of progressive farming clients.
Speaker 1 (37:24):
Rabobank, They farm kids.
Speaker 3 (37:29):
Wait down in this.
Speaker 5 (37:31):
Jane Smith wrapping the best of the Country. Good morning.
My name's Jamie McKay. The show was brought to you
each and every Saturday morning here on news Talks. They'd
be by Rabobank. We're growing a better New Zealand together.
The musical theme today is a song called John Dare Green.
I don't even know who sings it, but it's kind
to catchy and kind of country on the best of
the country. I'll catch you back, same time, same place,
(37:53):
next Saturday morning. But in the meantime we've got field
days getting underway at Mystery Creek on Wednesday. I'll see
you there.
Speaker 1 (38:00):
On a hot summer night.
Speaker 11 (38:03):
You know, Billy Boby Love Charley let us free bird Hide, and.
Speaker 3 (38:11):
The woome said that you shouldn't use me. Buddy, look
good to Charley in Johnkey. They settled down on.
Speaker 2 (38:32):
Any acres made the sweet corn kids had some batoes.
Speaker 3 (38:37):
They went together like a hand and a bun on
a clear day from the run yard.
Speaker 4 (38:48):
If you look in no what to look off the heast,
you still read his word of.
Speaker 3 (38:58):
In John Aunty on a hot summer night, you don't
be anybody. No Charley let us be bud Hide. And
the workhouse said that you shouldn't use me, buddy. The
good to Charley.
Speaker 11 (39:22):
In John Dierkey, Download then walls down.
Speaker 3 (39:42):
That discovered bread, No shame, no news. There made no
pain in the world that'll cover. In the Harky shown
in Johny on a hot summer night.
Speaker 4 (40:03):
He wrote, any Bob the charneye in mid Street, bird
High and the hotel had the full student news by love.
Speaker 3 (40:15):
But to Charnee in John Dierkey, John Dear Green
The best of the country with Rabobank.
Speaker 2 (00:02):
Choose the bank with one hundred and twenty years global
agribusiness experience.
Speaker 1 (00:06):
Grow with Rabobank.
Speaker 3 (00:09):
In John Summon, you know benybos Darley.
Speaker 4 (00:21):
That bird and the welcome said that shoudbody.
Speaker 5 (00:28):
The good Jarley, John, get a New Zealand and welcome
to the best of the Country. Brought to you by Rabobank.
The show's coming out of our Auckland studios today. A
bit of John dare Green, especially for our weekday sponsors
on the country. Brent, my name is Jamie McKay. The
(00:50):
show is brought to you by Rabobank. We are growing
better New Zealand together. I'm going to kick it off
with a couple of high profile New Zealanders recogniz and
the King's Birthday honors Dame Allison Stuart for services to
plant science and the arable sector and Dame Katrina Williams
for services to spinal injury research and equestrian sport. Ben
(01:13):
Pickton joins us or joined us midweek out of Rabobank's
Sydney office, looking at the OCR, the GDT and the OECD. Yes,
it was acronym day with him. The Prime Minister Christopher
Luxen telling Wokes to UK climate scientists to send their
letters to other countries. And Jane Smith North Otago farmer.
(01:36):
You never wonder well, you never die wondering what Jane's
thinking of. It's all on the best of the country
and it's brought to you by Rabobank kicking it off
with Dame Allison Stewart.
Speaker 2 (01:52):
The best of the country with Rabobank. Choose the bank
with a huge network of progressive farming clients Ravobank.
Speaker 5 (02:00):
King's Birthday Honors over the long weekend and it was
so good to see agriculture recognized at the highest echelons
in those King's Birthday Honors. Let's welcome on to the
show the newly minted Dame Allison Stewart for services well
basically the kind of plant breeding. It might not be
the sexiest industry alive, Allison, but it was so good
(02:22):
to see you and what you've done over forty years recognized.
Well done. I'm so proud of you.
Speaker 6 (02:28):
Yeah, I mean I have to see It's like anything
like when you're in you know, business or industry or
science for forty years, you don't achieve things in isolation.
So I'm actually really pleased to accept this honor, you know,
(02:48):
on behalf of all the plant scientists in the country
and all of the agricultural industry and particularly the adible sector,
who obviously I'm you know, I've been the CEO of
FAR for the last seven years. So I'm hoping that
people will all feel really proud of the fact that
(03:10):
one of us has got honored because normally it's politicians
and judges and sports people and media people and you
very rarely see, you know, an applied scientist and an
agricultural scientist up there. So I'll take one.
Speaker 1 (03:26):
For the team.
Speaker 5 (03:27):
Allison. Don't be too tough on the poor old media
people getting a gong, Monjue. This isn't your first gong.
You've got one back in Queen's Birthday Honors in two
thousand and nine.
Speaker 6 (03:37):
I did, yes, I know that one probably came as
a real surprise. I mean I was absolutely shocked and
I was convinced that it was just a scam, whereas
this one, I mean it's not that it wasn't a surprise,
but I think when you're at the end of your
career and you've done forty years and you've worked with
so many good people. I think you're more accepting of it,
(04:03):
and and I guess, you know, just really excited. I
just sort of think it's great and if it just
if it just increases the profiles, you know, of the
general public around you know, crop production, agricultural science, the
arable sector, then that's great.
Speaker 5 (04:21):
You've been here for forty years, You've still got a
strong Glaswigeian accent there.
Speaker 6 (04:26):
Well you might say it strong, but when I go
back to Scotland, they say, oh, you've lost your Scottish accent.
You sound like a Kiwi.
Speaker 5 (04:35):
So how did a young Allison Stewart these days, dime
Ellison Stewart end up in New Zealand from Scotland.
Speaker 6 (04:42):
When I finished my PhD, it was a time in
the UK when they were sort of they were disinvesting in,
you know, in seat of Agricultural Science, and I really
wanted to work for a death which was the advisory
so this from the UK, you know, agricultural advisory, and
(05:05):
I just couldn't, you know, there wasn't job opportunities and
I thought maybe I need to go overseas and get
some work experience and then just come back at some
stage and hopefully the opportunities you know, would be would
be there, and I don't know how I managed to
do it, but I managed to get a lecturing job
at Auckland University and featuring you know, plant pathology, crop protection,
(05:32):
and I guess that was it. I mean, I loved
New Zealand and you know, I got married, children and
I just decided that New Zealand was a really good
place to stay. And I've just built my career up.
And you know, I've worked in academia, I've worked in industry.
I've worked in a commercial company, I've worked in the
(05:54):
CRIS and I've worked across all of the different primary sectors.
So you know, I've been around the block.
Speaker 5 (06:04):
Dan Ellison Stewart with US awarded her Gong for services
to Plant science and the arable sector, and as you mentioned,
you are the chief executive of the Foundation for Arable Research.
Just to finish on what is the state of play
for the arable industry in New Zealand at the moment,
because I've got some mites so a cropping farm. As
they say, it's a bit tough out there.
Speaker 6 (06:24):
It is, it is, I mean, and that's not to
say it's not tough for all of the other sectors
as well. But you know, the arable sector is a
domestically focused sector, you know, so they don't have you know,
large export and crops and so when things are tight
(06:46):
worldwide and then it's very hard for the arable sector
to be able to compete with cheap imports. So it's
not easy, you know. And we've had some extreme weather
events that have affected yields. But the really, really good
thing about the addible sector is how resilient it is.
And I think the important thing is just to recognize
(07:09):
the role that it plays in New Zealand underpins you know,
and the livestock sector in New Zealand producing all of
the grass seed, and I just thought that the New
Zealand public recognize it and go out there and buy,
you know, products that have been made from New Zealand.
Speaker 5 (07:28):
Green good on your Dame Allison Stuart flying the flag
for the agriculture sector and the King's Birthday honors, well deserved,
Proud of it and love that accent.
Speaker 7 (07:39):
Go well, okay, thanks Jamie.
Speaker 2 (07:42):
The best of the country with rubber Bag the Bank
with local agri banking experts passionate about the future of
rural communities, rubber bag.
Speaker 5 (07:51):
So having a look at some of the high profile
rural people in this country who were recognized in the
King's Birthday honors. Here's one and this is absolutely richly deserved.
Katrina Williams, the founder and driving force behind the Catwalk
Spinal Cord Injury Trust since its establishment in two thousand
and five. And Katrina, like Dame Allison, I better call you,
(08:14):
Dame Katrina. Now you've sort of upsized your gone because
you've got a Queen's Birthday honor in twenty fourteen. A
good afternoon. Congratulations, very proud of you.
Speaker 8 (08:24):
Thanks so much, Jamie, and you're really proud of our
team at Catwalk. I'm still yet to work out he's
ho proply forward. I've asked a few, but I'm not
hitting the right person at the moment. But feel very
lucky that someone feels that we're worthy.
Speaker 5 (08:40):
Yeah, I wouldn't trust that Shane mcmanaway too far. He's
probably got his paws on this somewhere. I don't know.
I'm just having a guess on that one. And he
was honored a couple of years ago, and gee, his
was richly deserved. I want to go back to the
year two thousand and seven and our old mate, Sir
Brian Lahore, I called him to come down and be
(09:00):
the guest speaker at the Rugby Centenary in my hometown
of Riversdale, and I said, well, we're going to pay you.
And you know what he's like. He said, no, you're
not paying me. I said, well, we're going to pay somebody,
so you better come up with a good cause that
we can make a donation too. And he looked me
straight in the iron and he said, right done the
catwalk trust And I know you and him go back
a long way.
Speaker 8 (09:21):
Well, we do in the family J in the wire.
He has this beautiful manner about him and the big guys,
big hands, and I haven't I remember distinctly him coming
into hospital when I first broke my neck, and I
hadn't had many people in the room because you know,
we were still dealing with the shock of not being
(09:42):
able to move our body. And he came in and
when he left, I had these nurses around just just
about fainting. They couldn't believe that the Sir Brian had
walked into the room but too wire for people who
was always DJ and he just had this beautiful way
of making everyone ladays around him. Yet he's just could
(10:03):
pull a speech together like no other, and he's only
had three words on a page and yes we must
come dearly, and he was a great patron.
Speaker 5 (10:13):
Let's go back to two thousand and two and the
accident that puts you in a chair because you were
a champion equestrian. And I know you. I mean people
who meet you now or even in recent years. Your bouncy,
you're bubbly, you're vivacious. It's like you haven't got a
worry in the world. But that must have been brutal.
It must have been so tough at the.
Speaker 7 (10:32):
Time, Dammie.
Speaker 8 (10:34):
It was tough, and I'm not going to deny that.
It was a big looming curve personally. I you know,
as you said, week from writing show Jumpers Naveta's and
competing fight here and over in England and Europe and
just suddenly heavy, every part of your day managed by
somebody else. Even going to the low, having a shower,
(10:56):
coming into the pool, all of these things were not
at your call anymore. It was somebody else's posision. And
it was tough, and it still is tough. You know,
we've had a really adittrous fun tough for twenty two years,
but there was a great life and a chair. But
(11:17):
I'll be really honest, if I could to meet the
top and not ride that horse that day and know
that I'm twenty two years on my feet and I
always say I don't want to be bless. I just
want to be into the ins and on my face,
and I truly mean that. I also say along the lines,
if it meant that I had to slot up from Sam,
(11:40):
that I would do that as well, because I reckon
I could willn back again if I was on my feet.
But it's been tough, and I think anyone that goes
through a final could injury knows how tough it is.
Speaker 5 (11:52):
Let's talk about the reason why you've had your going
upgraded and why you're now Dame Katrina Williams. It's because
of the fundraising that you you have done for the
Spinal Cord Injury Trust. You're looking at something like ten
million dollars and you're well on your way. Am I
right in saying.
Speaker 8 (12:07):
That you're right? And I had to stop you because
you keep saying you and it's not me, anyone that
can see me. I've got leaf that don't work and
hands that it's pretty funny. We have the most incredible volunteers, supporters,
pain at catwalks that drive these fundraising initiatives that make
them happen, and we have all these people that actually
(12:29):
do them and put their names on the board. And
we've had so much fun. So in your marathon, we've
started with ever so we've hadled these beautiful black type
and parties. There all sorts of crazy initiatives that I
mean I even tried to do. It has traced on
once in Taraniki actually failed and ended up in and
I see you with hypothemia. But you know what, you've
(12:53):
got to have a go at these things. And you
know that's probably the biggest challenge with catwalks is that
apparently as a wheelie, when you break through me you
go into hospital, they bolt you that together and they
push you out the door. My challenge is to these
people with the brains, with the mouse, with the ability,
(13:13):
we want more. We want more than just wheeling around
the world. Yes, we can do that and use there
is a wonderful life to be had, but the ability
to pick up a child from on the floor and
give them a high, the ability to run across the
sand into the water. There's still something that I would
love to be able to do, and that's what care
(13:35):
also careful to raise money to some of the best
research that we can to get people back on their feet,
in my case dancing with my husband.
Speaker 5 (13:43):
Well on knowing you, it's something you will probably achieve.
You are so determined, You're wonderful. Dame Katrina Williams, congratulations,
richly deserved.
Speaker 7 (13:51):
Well done, Thank you very much, Janny, the.
Speaker 1 (13:55):
Best of the country with Rubbobank.
Speaker 2 (13:57):
Choose the bank with one hundred and twenty years global
agri business experience.
Speaker 1 (14:01):
Grow with Rubbobank.
Speaker 5 (14:03):
Everyone at Rabobank has a fancy title, and this man
is no exception. His name is Ben Pickton. He's a
senior macro strategist. That sort of means he's the chief economist. Ben.
Since we've last chatted, we've had a budget, we've had
a twenty five zero point two five percent cut in
the ocr and we've had a disappointing GDT auction. Overnight,
(14:24):
the world is starting to call its heels economy wise.
Speaker 9 (14:29):
Yeah, good a Jamie, it's good to chat again. Yeah,
I think it's fair to say that that is probably
the case. We're starting to see some growth downgrades flowing
through from the likes of the OECD. That's probably no
surprise given all of the uncertainties around the impacts of
tasks and the expected flow through to the supply side
(14:50):
of the economy from that. So we are seeing growth downgrades.
And when you have weaker growth around the world, it
probably means that there's going to be slightly les bid
for commodities, and maybe we're seeing that reflected in the
GDT overnight.
Speaker 5 (15:05):
Well, let's have a look at that OECD report. They've
slashed the annual growth report for the world economy and
they're blaming Trump's tariffs there, especially in the US. Growth
in the US this year was predicted to be two
point two percent now one point six percent. There's just
less money in the world's biggest economy, China, interestingly, is
(15:27):
predicted to go down from four point eight percent to
four point seven percent. Comparatively. That's a good result, but
we've got to remember China's coming off coming down from
a very high bar.
Speaker 9 (15:40):
Yeah, that's right. It's interesting some of those growth projections
around the United States because the data flow out of
the US recently has actually been reasonably strong for most
of the data. We do have a pretty important number
that's coming out at the end of the week, which
is the US non farm Payrolls report. That's effectively the
jobs report for the USA, and it will maybe give
(16:02):
economists around the world a little bit more of an
insight into whether this recession that lots of people have
been expecting in the USA is really on the way
or not. But yes, overall, if you've got slower growth
in the USA and slower growth in China, they are
the two largest economies in the world, there's going to
be less economic activity overall, and that presents some headwinds
(16:25):
for our export performance in this part of the world.
Speaker 5 (16:28):
The good newsers interest rates are dropping. The banks here
are starting off a bit of a mortgage war. How
low can these rates go? Ocr drop to three point
twenty five percent? We know there's another cut or twenty
five basis point cut factored, and could it go lower
than that if the world economy slows too much?
Speaker 9 (16:48):
Yeah, so it certainly could. Anything's possible. Our baseline forecast
is that we think that three percent is the bottom,
So we've got one more cut penciled in. We previously
that in our football cast for July, but we've pushed
that back to August now because the signal from the
RB and Z last week certainly seemed to be that
(17:10):
they think that they're pretty close to the end of
the cutting cycle. We had a bit of an extraordinary
circumstance where usually the decisions on the OCR are taken
by unanimous consent, but this time around they actually voted,
so there was a five to one split in favor
of a twenty five basis point cut, So one member
(17:32):
of the Monetary Policy Committee couldn't be convinced by all
of the others that cutting rates was the right thing
to do in May, so that's an interesting signal in itself.
So we think three percent, given what we know today,
is probably the bottom. But there's a massive amount of
uncertainty out there surrounding what the impact of tariff's will be,
(17:52):
what that will do to New Zealand's export performance, and
if the situation ends up being worse than what we
currently expect, there's certainly scope for more cups.
Speaker 5 (18:04):
You won't have seen the latest Federated Farmers Banking survey,
but it's been good news for Rabobank, you've come out
kind of on top, and certainly when it comes to
overdraft rates, you're doing a hell of a lot better
than some other banks what shall remain unnamed.
Speaker 9 (18:19):
Well, that's great news. I haven't seen those results, but
I'll put it out there and say I'm never surprised
when rabou Bank does well and these sorts of things.
Speaker 5 (18:28):
You would say that, Ben. You are coming over to
New Zealand next week for Field Days and you're going
to be one of the keynote speakers along with Finance
Minister Nikola Willis at the Rabobank client breakfast on Thursday morning.
Looking forward to listening to what you have to say.
Speaker 9 (18:43):
Yeah, I am coming over, so I'll be there in
the tent on Thursday morning, really looking forward to it.
I was at Seal Days last year and it was
a fantastic event, so it'll be good to be there
again this year and on the panel with the Minister.
Speaker 5 (18:58):
That's breakfast sorted for me on Thursday morning after a
big night out on Wednesday, no doubt. On the tron,
Ben pickt and I'll see.
Speaker 9 (19:06):
You then, ses Jamie.
Speaker 2 (19:07):
The best of the Country with Rabobank, Choose the Bank
with a huge network of progressive farming clients.
Speaker 1 (19:14):
Rabobank.
Speaker 3 (19:17):
They were farm kids, wait down in the in the cities.
Speaker 5 (19:24):
Everyone, it was on the Star, Get a New Zealand
and welcome back to the best of the country. As
we go country on your Saturday morning. My name's Jamie McKay.
The show's brought to you by Rabobank. We're growing a
better New Zealand together, playing the best bits of our
weekday show twelve to one. Well you've heard from Dame
Allison Stuart, Dame Katrina Williams and Ben Pickton out of Rabobank.
(19:49):
Up next Christopher Luxen. On Wednesday show he told Wokes,
the UK climate scientists to send their letters to other
countries after they accus the government of ignoring scientific evidence
over methane emissions. We also talked about Winston and David
seymour landcrpor New Zealand, posts to Sinder's book and field days.
(20:12):
We wrap it with North Otago farmer Jane Smith, Award
winning environmentalist as well. Hey talking about Rabobank. Their Rabobank
Good Deeds competition is underway right. It gives rural community
groups across New Zealand a chance to win a day's
labor and five thousand dollars in funding for their nominated
(20:32):
community project. Rural community groups are encouraged to submit their
projects for consideration via the rabobank website rabobank dot co
dot nz. The winning community group will receive a dedicated
days of day should I say of hands on support
from rabobank and its employees. The Rabobank staff love being
(20:54):
a part of this, plus the five thousand dollars cash
for your rural community pro As I said, enter it.
Rabobank dot co dot en z Up next on the
Best of the Country, brought to you by Rabobank The
PM M.
Speaker 2 (21:17):
The Best of the Country with Rabobank the bank with
local agribanking experts passionate about the future of rural communities.
Speaker 5 (21:24):
Rabobank Wednesdays on the Country The pm kicks off the show.
So here's the go Okay. More than twenty five international
climate change scientists have written an open letter to Christopher
Luxen accusing the government of ignoring scientific evidence. Christopher Luxeon,
I say to you, good on you for telling the
Wokes to UK climate scientists to send their letters to
(21:48):
other countries. That's good stuff.
Speaker 7 (21:50):
Well, I mean it's it's just like, I got no
time for it at all, because you know, we are
currently the most Carmen defficient farmers in the world. If
you shut down all of his own farming, you just
actually make global greenhouse gas emissions worse. It's the engine
room of the New Zealand economy. And the other cool
thing is, just like the last one hundred and fifty years,
we have an awesome pipeline of science and technology which
(22:11):
will help us be more productive and actually a lot
a lot more carbon efficient as well. So that's all
coming down the pike. It's for real, it's happening, and
so you actually want more production in New Zealand to
lower global greenhouse gas emission. So you know, so I
think we're getting into a world where we can say
we're the most carbon efficient. We've got a great science
(22:31):
technology through that we will actually be able to increase
production in this country. And that's where we should go
to when.
Speaker 5 (22:35):
You're going to set your methone targets.
Speaker 1 (22:38):
Shortly.
Speaker 7 (22:39):
Obviously, we've had two reviews, obviously one from the Climate Commission,
obviously an independent one. We've got other advice as well,
and we're close to that it'll be a matter of months,
a couple months.
Speaker 5 (22:49):
I watched One News last night as Mikey Sherman breathlessly
declared it a shock poll result, and I'm looking at
the results and thinking, well, Labor and nationally down a
couple of points. So NAT's are still at thirty four.
Where's the shock? And that the only shock that I
got was that twelve percent of the population is silly
enough to vote for the Greens alternate budget.
Speaker 7 (23:09):
Look, I think that's as full as this. There's poles
up the wazoo, right, and there's lots of different poles,
and they do different things, and they anyway, you can
argue that all day long. I literally do not care
about that stuff, because you know, we're elected in twenty
twenty three, and we'll get re elected again in twenty
twenty six, when New Zealanders have a chance to think
about it, and the choice will be pretty clear. You know,
we are you better off than you were three years ago?
(23:31):
Do you have people actually competent enough to run the
economy or are you going to throw the keys back
to the last experience we had with Labor and the
Greens into party Maori, And I just think you know,
my job is to stay very very focused on getting
stuff done for Keywis and sorting stuff out and cleaning
up the mess. And ultimately, if we do our job
right and we deliver, they'll make their decision. And that's
the only pole I care about.
Speaker 5 (23:52):
You realize your greatest allies are the Greens and Too Party.
Speaker 7 (23:55):
MARII, Well, I mean it's just I mean, you think
about it. You're serious a table. The alternative would be Hipkins,
Marrimc Davis and Chloe swarbrick Rollery. You know, wy Teddy,
You've got Demi a pack. Imagine the five of them
sitting around the cabinet room discussing economic policy. If you
thought it was bad with a sole charge labor government
that ran deet up one hundred and twenty billion dollars
(24:17):
in there for inflation and interesstrates and put us into recession,
just imagine the chaos that ensues with those five leaders
coming together. You know, we've got a three party coalition
and I think people, we've demonstrated people we can make
it work. Yeah, we have differences, but we agree a
lot on a large part of their Gendern't all right?
Speaker 5 (24:34):
How's the love and going with the government coalition because
while the old Winston you've got to hand it to him,
he said, to see more ol go deputy prime minister first,
you can go second. This is playing right into the
Winston Peter's handbook. I mean he's let off the chain
for the last eighteen months heading into the election.
Speaker 7 (24:51):
Look, I think what people as I said from day one,
we're doing something very different and this is the reality
of MMP. This morning, I've woken up and the Dutch
government has collapsed after a year with a four party coalition.
They have exactly the same system as us. Right, so
you know the reality is in Zealand, people rightly or
wrongly chose an MMP system. We've had several goals at
saying is that what you want? They've said yep. So
then they vote for us, and then we have to
(25:12):
make it work. And then you've got to try and
find a way to get coalition government to be as
stable as possible so that actually you can get things
done for New Zealanders. If you don't, you just keep
having elections every year. Basically is what happens around the
world with MMP type systems if they're unstable and so
the reality for us is, look, we agree on about
ninety five percent of the stuff, you know, grow the economy,
restore or in order better health education. There are differences
(25:34):
also between the parties, and I want enough space where everybody,
you know, Winston and David will say things different from me.
I lead the National Party obviously prime minister for a
coalition government, you know, and as minor parties they need
to know obviously have space to talk to their constituents,
and they do have difference, it's from us from time
to time. But you can manage that if you give
everyone enough space within that within that coalition government. And
(25:54):
I think that's what I'm proud of what we've built
so far.
Speaker 5 (25:57):
Samin Brown has warned Land Corp and ZAID Hosts that
they're not performing, and as we discussed last week, I
think there are some issues around Land Corp. They would
argue they're improving their performance, but should the government be
in the business of running a state farm.
Speaker 7 (26:13):
Well, what we've said is we wouldn't undertake our set
sales this three year period because essentially we need to
focus on getting the fundamentals fixed and sort of and right.
But Simeon's quite right to call these enterprises that the
government and the taxpayer Altimore has an interest and to
say we expect performance out of you as well. We're
expecting performance out of the public service, we expect performance
(26:33):
out of state owned enterprises as well. So, you know,
I think it's a really good shot to say, hang on,
we've got dairy and red meat.
Speaker 10 (26:40):
Now.
Speaker 7 (26:41):
Dairy's up four and a half billion and exports, red
meats up one point two billion, hawts up a billion
in exports in the last twelve months. We're making some
good progress and primary inties. If you can't run state
farms well in that environment, there's some serious questions to
be asked. So I think he's doing the right thing
by pushing and challenging them to perform better.
Speaker 5 (26:58):
Have you registered his book? Get Do you think she's
in denial over what kindness did to our economy? Or
was she misjudged?
Speaker 9 (27:06):
Look, I haven't read it.
Speaker 7 (27:08):
I frankly got other things I got to do and
sort out. I saw how the movie ended, and it
was a financial pain and chaos and nothing got delivered.
So you know that's my job is to, I guess,
deal with the aftermath of it all and that's what
we're fixing.
Speaker 5 (27:21):
It's not bad from the PR department. I saw how
the movie ended.
Speaker 7 (27:26):
That's how I feel about it.
Speaker 5 (27:27):
Do you focus group that?
Speaker 7 (27:29):
No, mate, we know have time. We've got a country
to sort out. They've got things to get fixed for people,
and we're cracking on.
Speaker 5 (27:38):
You have got time to go to field Days next week.
In fact, this time next week we'll be chatting at
field Days. What does Field Days mean for you?
Speaker 9 (27:46):
Oh?
Speaker 7 (27:46):
Look, I mean it's a fantastic event. And actually I
want it to get bigger and bigger. And I've actually,
when I've been overseas, been encouraging world leaders to come
down and so I was Britain trying to encourage the
Agriculture minister to come down not this year but next year.
I quite like us to think about what else we
could build around it, with respect to some of the
diplomacy stuff around our trade agenda, in particular, because I
(28:08):
think I want people understand we're the best in the world,
most carbon efficient in the world. But I'm looking forward.
There's a great science for farmers Hub what you might remember,
and it keeps getting bigger and better every year. There's
some really cool innovation and I love the innovation because
when you keep embracing innovation, that's how the sector keeps growing.
I think frankly, we saw it on wall you know,
thirty something years ago we stopped the levy, but obviously
(28:29):
we just stopped innovating as well. And so yeah, there's
things we can do around procuring wool and all that
good stuff. But actually that's a great product. We need
more innovation in that sectem Like we've seen in dairy
around some of the products that are now sold to
the world. Obviously, Rural Support Trust's going to catch up
with them. They do amazing work, and then just to
meet lots of keyweason Actually is interesting farmers I've spoken to.
(28:49):
I spoke to a guy down Timarus was like uptash
person and he was going off to buy a tractor
and a new header because he basically said, you know,
that investment boost stuff has gone down to treat and
in the rural community. So yeah, I'm just keen to
get a sense of now people hopefully've got confidence inflation's
low interest rates for coming down, the economies growing again,
export lead recovery, primary industries, and investment boost to encourage
(29:12):
people to buy new assets would be I'm keen to
see that working well.
Speaker 5 (29:17):
Catchu in seven days time, Prime Minister. Thanks for your time.
Speaker 9 (29:20):
Thanks may have a great way.
Speaker 7 (29:21):
You take care the.
Speaker 1 (29:22):
Best of the country with Rubboback.
Speaker 2 (29:25):
Choose the bank with one hundred and twenty years global
agribusiness experience Grow with Rubboback.
Speaker 5 (29:30):
Shares a North Otago farmer, former winner of the Balance
Farm Environment Towards Jane Smith joins us on the country. Jane,
I know you didn't hear the interview that we've just
played with the Prime Minister, but I say good on
Christopher Luxen for telling the Wokes to UK climate scientists
to send their letters to other countries after they'd written
an open letter to them complaining about US ignoring scientific
(29:55):
evidence when it came to reducing methane. What do you reckon?
Speaker 10 (30:00):
Good afternoon, Jamie. Well, that sounds like music's my ears actually,
and well done for no stop calling him lux flakes.
He really starts. It sounds like he's really the nill
On head there, and it's exactly what we've known for
a long time that New Zealand is forging its own
way in regards to this and simply what they had
to say was a lot of hot air. Of course,
in reality, it's just trying to take the heat off
(30:21):
what the EU hasn't done in terms of gross emissions,
in terms of fossil fuels. And again it's the unfortunate
news is for them, and this won't make an exciting headline,
is that we've already delivered. We are already delivering every
single day in terms of our methane emissions. And again
that doesn't sound exciting. But this unhinged obsession with naturally
(30:41):
food producing emissions needs to stop. I mean, of course
we've got a high per cap at a rate of
natural biogenic emissions. We've got a low population coupled with
high food productions. So and again that that is absolutely
needs to be put to bed. Isn't it strange Jamie
that methane seems more targeted these days than methane phetamine.
You know, we've got less three minutes in the world
(31:01):
now than we have before the Industrial revolution. As you know,
sheep down fifty eight percent twenty one year, twenty four
and so I'd love to extrapolate that out, Jamie, and
I will do that when I get some time actually,
to put that into the equivalent cars off the road,
and you know, farming New Zealand farmings that are real
crossroads at the moment. And I've been thinking about this
(31:21):
a lot lately. You know, we either go the nature
way or the more nuclear way. And the EU seems
to be absolutely, as I said, obsessed with this high
interference using man made energy and feed locked food production,
et cetera. And that couldn't get further away from where
I'm standing right now, Jamie, six hundred meters above sea level.
We're harnessing the sunlight and photosynthesis to produce pasta and
(31:45):
tender then to naturally raise protein. And New Zealand needs
to decide, Jamie, we're either claiming pasture feed naturally raised
or we are going down the road of you know,
the biotech feed editive unnecessary vaccines and boldnesses. Because actually
it's really what we're doing. And I'm not anti science
and progress. I want technology on the farm, so smart collars,
(32:07):
electronic tags, weighing systems, et cetera. But I don't want
technology in my food, you know, pasta or Peatrie just dished, Jamie.
We need to decide.
Speaker 5 (32:15):
Hey, have you seen I'm sure you've cast your eye
over at the Federated Farmer's the latest banking survey.
Speaker 10 (32:23):
Yes, I did see that, Jamie, and I know it
wasn't great reading back in December, and I see sort
of bounced up a bit since then. And I think
also I think the banks need to be careful they
don't take too much credit for it, because also farming
has changed a lot in terms of just the positivity
outdeas since it was as you compare it to pre Christmas.
(32:43):
I think the banks do have their tail between their legs,
which isn't a bad thing, because there's been a hell
of a mental health burden and it's probably been massively
underreported in terms of the structure of DEET and the
pressure from banks. But certainly I thought it's heading in
the right trajectory and the right direction. And also just
as callout has been really good, and so I congratulate
SAIDs for the work that they've done on that and
(33:05):
individuals that help them do that, and let's hope communication
and in that trust. We always say in our farming operation,
no matter who we deal with, be it a bank
or a VITA or a farm supplier, you're not always
going to get the best deal. All of the time,
but you want to know that they've got your back,
and especially in our foe producing non subsidized sector, we
(33:25):
need to know that because we're highly sensitive to all
of those scenarios in terms of pressure and pricing and
the cost of production, and so we want to have
that mutual trust and we have to head forwards and
our set to Jamie, the.
Speaker 5 (33:39):
Standout number for me was on overdraft interest rates. They've
dropped off the back of drops in the OCR obviously,
but Rabobank offered the lowest seven point three percent, b
and Z remains the highest at nine point seven percent.
How can there be effectively two and a half percent
difference between two banks? I call it profiteering.
Speaker 10 (34:01):
Yeah, it does seem really strange, Jamie. And of course
all the banks are there to make a profit, and
it is a little bit dangerous sometimes to be kept
comparing one off interest rates, et cetera. But it's again
that lack of trust because as farmers, we're just busy
trying to do the right thing, keep the GDP rolling
out in the farm. And to feel like you need
to be checking your interest rates against your neighbors and
other banks every single day is not a nice feeling.
(34:23):
And I think again banking has moved away from that
sort of personal factor at times to more of a
transactional one, and so we need to sort of bring
that back and actually bring the bankers into the fold.
And as I said that it all comes down to trust.
So yeah, hopefully it's onwards and up with Jamie, and
farmers just hopefully feel like they've got a little bit
(34:43):
more power, because it was also that power and balance
that was the really scary thing Jamie.
Speaker 5 (34:48):
Yeah, And to be fair, this banking survey, which was
carried out in May, was a response from seven hundred farmers,
so maybe a few described being z farmer clients may
have skewed the numbers away, but I still argue banks
across the board are ripping farmers and business people off
on OD rates.
Speaker 10 (35:08):
Oh exactly, Jamie, And we need to be very very
careful that we do push back on that. And again
I'll come back to those two words, trust and transparency.
Just as our consumers trust us to have transparency and
what we are producing, we actually need that trust in
house with those that we align ourselves with. So again,
take that the power farmers and make sure that we
(35:28):
are we are asking those hard questions because again, this
is going to make such a difference to our product
or a profitability, because our productivity is a country is
really concerning, and you see what's happening worldwide, it's the
same thing. We actually need to up our productivity and
all of these these climate change et cetera. Issues at banks,
(35:48):
and again that's actually increased their costs as well because
they've turned their mind to interfering in areas in people's
businesses that they should never have been in. You know
why banks were ever putting money into their the egritech
space in terms of aggri zero et cetera, which is
a venture capital scheme that is concerning. So to just
get out of that because all of those things are
(36:09):
the trojan horse. You look at the Paris Accord, the
land lost or forestation, et cetera, a trojan horse to
actually come up against our productivity. And you look at
the two thousand and tur undred and sixty thousand hiptes
that we've planted and pine trees. You know, it's not
the pine tree's fault. It's actually because we've signed up
to the Paris Accord and the methane Global methane targets,
(36:30):
et cetera. All of actually that work against our unique profile.
And mu zealmanth exactly what we'll see in that letter.
But turn it around the right way and say eachy
consumers and food producers are asking a lot more. And
it's interesting, Cameron Bergri said the other day. All the
fancy trade deals in the world are never going to
help if you run out of land, you run out
(36:51):
of stock, you run out of farmers, and those that
are remaining are never going to get a premium that's
large enough to be lumped with the extra cost of production.
So let's go back to basics and again I choose
pasture over a petrie dish.
Speaker 5 (37:04):
Okay, I think we know where you stand. Jane. Sorry,
I'm out of time. I would say I'll see you
at field Days, but I think you've got a ball
sale next week on your North Otago farm. Hey, thanks
as always for your time standing six hundred meters above
sea level.
Speaker 10 (37:17):
Thanks Jammy.
Speaker 2 (37:18):
The best of the country with Rabobank. Choose the bank
with a huge network of progressive farming clients.
Speaker 1 (37:24):
Rabobank, They farm kids.
Speaker 3 (37:29):
Wait down in this.
Speaker 5 (37:31):
Jane Smith wrapping the best of the Country. Good morning.
My name's Jamie McKay. The show was brought to you
each and every Saturday morning here on news Talks. They'd
be by Rabobank. We're growing a better New Zealand together.
The musical theme today is a song called John Dare Green.
I don't even know who sings it, but it's kind
to catchy and kind of country on the best of
the country. I'll catch you back, same time, same place,
(37:53):
next Saturday morning. But in the meantime we've got field
days getting underway at Mystery Creek on Wednesday. I'll see
you there.
Speaker 1 (38:00):
On a hot summer night.
Speaker 11 (38:03):
You know, Billy Boby Love Charley let us free bird Hide, and.
Speaker 3 (38:11):
The woome said that you shouldn't use me. Buddy, look
good to Charley in Johnkey. They settled down on.
Speaker 2 (38:32):
Any acres made the sweet corn kids had some batoes.
Speaker 3 (38:37):
They went together like a hand and a bun on
a clear day from the run yard.
Speaker 4 (38:48):
If you look in no what to look off the heast,
you still read his word of.
Speaker 3 (38:58):
In John Aunty on a hot summer night, you don't
be anybody. No Charley let us be bud Hide. And
the workhouse said that you shouldn't use me, buddy. The
good to Charley.
Speaker 11 (39:22):
In John Dierkey, Download then walls down.
Speaker 3 (39:42):
That discovered bread, No shame, no news. There made no
pain in the world that'll cover. In the Harky shown
in Johny on a hot summer night.
Speaker 4 (40:03):
He wrote, any Bob the charneye in mid Street, bird
High and the hotel had the full student news by love.
Speaker 3 (40:15):
But to Charnee in John Dierkey, John Dear Green
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