March 5, 2025 • 34 mins
On the Early Edition with Full Show Podcast Thursday 6th of March 2025, Reserve Bank Governor Adrian Orr has resigned out of the blue - Independent Economist Cameron Bagrie tells Andrew Dickens who he thinks will be next in line for the top job.
We might have some signs of life in the property market, CoreLogic Chief Property Economist Kelvin Davidson shares the latest numbers in the CoreLogic Home Value Index.
The Government's announced it’s increasing the number of training places for nurse practitioners specialising in primary care to 120 a year, Professor Warwick Bagg from the University of Auckland tells Andrew how much of a difference it will make.
US Correspondent Mitch Mccann shares the latest on what came out of US President Donald Trump's congress speech and the trade war.
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Speaker 1 (00:02):
The issues is the interviews and the insight. Andrew dickens
on early edition with one roof make your property search simple,
used talks, it'd be.
Speaker 2 (00:14):
Yes, goodbody to you and welcome and thank you so
much for choosing us. Coming up earlier. The next sixty minutes,
property prices are back on the rise, but not by much.
How much Well Core Logic will join us in five minutes.
There's more funding for doctors and nurses. How will ed help.
We'll have that story for you in ten how civic
funding for events is a good thing. And Adrian or
(00:36):
is off. We're going to talk to Cameron Baggery about
how he's left the Reserve Bank. We're going to have
correspondence from around New Zealand and around the world, and
news as it breaks. We'll keep you up to date
with the cricket. We well South Africa needs one hundred
and forty three runs and sixty two balls. Don't think
it's going to happen. Think we're going to win, but
we'll keep you in touch with that and you can
text us anytime you like. Ninety two ninety two is
(00:57):
the number of small charge applies. It's seven after five.
Speaker 1 (01:01):
The agenda so it's Thursday, the.
Speaker 2 (01:03):
Sixth of the March. White House National Security Advisor Mike
Waltz says the US is pausing intelligence sharing with Ukraine. However,
he suggested he'd be open to lifting the military a
freeze if peace talks progress.
Speaker 3 (01:18):
I think we've seen movement in the last twenty four
hours that the Ukrainian side will actually come to the
table and negotiate a partial truce, a full truce, and
then a permanent peace.
Speaker 2 (01:29):
Last night, President Trump made his first address of his
second term to Congress. It's a very entertaining watched a
great afternoon speed watching that he took a moment to
mention Ukraine's President Vladimir Zelenski after days of criticizing him.
Speaker 4 (01:42):
Today I received an important letter from President Zelensky of Ukraine.
The letter reads, Ukraine is ready to come to the
negotiating table as soon as possible to bring lasting peace closer.
We've had serious discussions with Russia and have received strong
signals that they are ready for peace. Wouldn't that be beautiful?
Speaker 2 (02:03):
And we've had a lot of back and forth on
the trade war, and President Trump has made it clear
he's not backing down.
Speaker 4 (02:10):
And whatever they tariff us other countries, we will teriff them.
That's reciprocal back and forth. Whatever they tax us, we
will tax them.
Speaker 2 (02:22):
Meanwhile, Canadian Prime Minis suggests and Trudeau he's standing his ground.
Speaker 5 (02:27):
Canadians are reasonable and we are polite, but we will
not back down from a fight. Canada will be implementing
twenty five percent tariffs against one hundred and fifty five
billion dollars worth of American goods, starting with tariffs on
thirty billion dollars worth of goods immediately, and tariffs on
(02:48):
the remaining one hundred and twenty five billion dollars of
American products in twenty one day's time.
Speaker 2 (02:54):
Well, she's all on eh. And finally, Florida has launched
a criminal investigation into the influence of brothers Andrew Tate
and Tristian Tate. They flew to the States last week
from Romania, where they faced rape and human trafficking charges.
So Florida's Attorney General, James Uthmeier says investigators have issued
search warrants and subpoenas as part of a now active inquiry.
(03:18):
It's coming up ten after five.
Speaker 1 (03:20):
News and Views You Trust has done Your Day. It's
early edition with Andrew Dickens and one roof make your
Property Search Simple, youth Talk Sidy.
Speaker 6 (03:30):
Yeah.
Speaker 2 (03:30):
So I watched the State of the Union yesterday afternoon. Boy,
it was the entertaining. It was raucus. President Trump addressed
Congress and he spoke and he spoke, and he spoke
and he spoke. His was the longest State of Union ever,
beating Bill Clinton's one hour and twenty effort by twenty minutes.
An hour and forty he spoke for and you were
left with absolutely no doubt that the man loves tariffs.
(03:52):
They're a beautiful thing. He's looking to make America great
again by punishing the rest of the world with these tariffs,
and it's going to hurt everyone, including America, which you
have to say, is disruption at its biggest and best.
I bet the tech bros love it, whether Trump and
anti globalists like it or not. We are living in
the most interconnected global economy in history, and he has
(04:14):
to remember you cannot undo a century of trading with
one tax. So these tariffs will hurt American businesses and
we saw that with the collapse of the Dow over
the course of the week. But everyone else is going
to get hit, especially small export nations like ourselves. We
know that tariffs are coming to the agriculture sector. What
do we do agriculture? But I think people don't quite
realize just how far into our economy the American shutdown
(04:36):
will affect billions in Keiwi, Savor, New Zealand, super and
private investor funds are going to be lost because of
their exposure to the American markets. We're told, don't look
at your balance. Maybe it will get better later, hope so.
And if Trump is successful and America rises out of
its dependence on cheap foreign labor and imported products and
(04:57):
starts becoming the self sufficient nation that the president wants,
then it's debatable that we'll ever get back in there
to sell our stuff the way we used to. The
tariffs will impoverish America in the short term, but if
he's right, the long term American future could look bright.
But for the rest of the world, including us, our
prospects have certainly taken a hit, you know, And it's
(05:18):
just as things were starting.
Speaker 7 (05:19):
To look better.
Speaker 2 (05:20):
Andrew dickins, it is now twelve minutes out of five. Now, Look,
there's nothing wrong with the war against emissions, just forget
climate change, just part that for a moment. Just think
about the crap that's going into your lungs. All the
oxygen humankind can ever breathe is locked inside a twelve
mile high bubble around the globe called the bias. For you,
(05:41):
and pumping too many poisons into it, well it's suicidal.
So we find out today that half of the world's
climate heating carbon emissions come from the fossil fuels produced
by just thirty six companies. The report found that the
thirty six major fossil fuel companies, including soud The Aramco, Coal, India,
(06:02):
Xon Mobil, Shell, BP and numerous Chinese companies, produce coal,
oil and gas, responsible for more than twenty billion tons
of CO two emissions in twenty twenty three. So if
Saudi Aramco was a country, it would be the fourth
biggest polluter in the world after China, the US, and India,
(06:24):
and while Exon Mobil is responsible for about the same
mission emissions as Germany and Germany is the ninth biggest
polluter according to the data. And despite all the miles
of column inches that keep being pumped out about climate
change and carbon emissions, the thirty six companies have never
ever reduced their emissions, so I see that calling them
(06:47):
out is a good thing and anything they can do
to reduce their output would be appreciated because we all
like fresh air. We only get one planet and we
should take care of it. It's thirteen after five, so
call logics come out again and shown some life in
the housing market. But just how much we'll tell you
in a few moments time, and we'll also ask the
(07:07):
question how long will it last? This is News Talk's sabb.
Speaker 1 (07:12):
The news you need this morning and the in depth
analysis early edition with Andrew Dickens and one roof make
your Property search Simple.
Speaker 2 (07:21):
News Talk SIBB sixteen after five, South Africa two thirty
seven for eight, one hundred and twenty six runs and
forty seven balls to win. And well it looks like
we're going to do it, which is awesome news. Speaking
of sports, by the way, Mayor Wayne Brown has said
that the councilor should start looking at bringing the America's
(07:42):
Cup back to Aucand and he's calling on government to
do this as well. What do you think is this
a good idea or not? You can text me ninety
two ninety two. Now we might have some signs of
life in the housing market. Core Logic's latest numbers are
showing a zero point three percent rise in property values
in February. Now, that follows a four point one percent
drop over March to September last year. This is the
(08:04):
biggest game since January last year. So is this the
sign of a recovery? Well, someone who will know this
is Calvin Davidson, whose core Logic's chief property economists, and
he joins it now, Hello, Calvin, good morning. Why's it
going up?
Speaker 8 (08:20):
Well, interest rates basically, I mean we've seen before the
impact that lower interest rates can have, and I think
we're seeing there again. There are still restraints as well,
things like the week of labor market. There's a lot
of listings out there, so I think you'd probably still
call it a buyer's market. But certainly the impact of
lower interest rates is huge. People can just have a
bit more cash to spend on a house, all right.
Speaker 2 (08:40):
Well, prices are down nearly seventeen percent from the peak
in the middle of the pandemic where we just decided
to buy houses because we had nothing else to do.
But we're still well above the pre COVID numbers by
seventeen percent, So are we going to continue to be
so volatile?
Speaker 8 (08:56):
I think we're probably setting into a more stable phase
and the interest rates hopefully have settled down a bit.
I thank COVID's five years on now, so you think
we're back to some kind of normality. We've got a
little bit of wage growth coming through, so you think
that there's a recently steady path of the house prices ahead.
But I don't think we're going to go into a
new boom because there are those restraints out there. There
(09:18):
still are a lot of listings. Affordability is a challenge,
and this time we've got debt to income ratio restrictions
which we didn't have last time. So as interest rates
come down, particularly those test rates at the benks, the
internal rates they check affordability with. As they come down
that's been debt to income ratios start or start take hold,
and they will sort of limit loan sizes and limit
(09:39):
house prices. So there's sort of forces in both directions.
Speaker 2 (09:42):
I guess we've always talked about house supply. Is that
still a problem.
Speaker 8 (09:46):
Well, I think really the mean measuring housing so called
housing shortages, is a little bit tricky, but I think
at the moment, there's a general feeling in the market's
fairly balanced, and we've seen that. Okay, the construction sector's
been in the down over the past couple of years,
but prior to that had a huge boom. Some of
that tail the end of those properties are still coming through,
(10:07):
still being put into the market or finished. So I
think supply and demand are probably fairly well balanced. Actually,
we've had net migration tail off a lot, so population
growth has slowed down. So I just think the risks
of shortages and I guess spikes and house prices driven
by not having enough houses, I think those risks are
much less than the past.
Speaker 2 (10:27):
And can New Zealanders still bank on their biggest asset
continuing to appreciate year on year or not?
Speaker 9 (10:34):
I think so.
Speaker 4 (10:35):
Yeah.
Speaker 8 (10:35):
I mean you tend to see through time a bit
of general inflation, you tend to see some wage growth,
we tend to see population growth. All of those underlying fundamentals,
if you like, supportive for house prices. But yeah, I
just think that it's probably a steadier past and perhaps
some of the big booms who've seen historically partly because
of those set to income raciare restrictions and maybe just
(10:55):
maybe there's a wee bit of a societal change going
on where where people are she realizing if a rising
house prices are not necessarily a good thing, especially for
the next generation trying to buy, so hard to measure,
hard to say if that's for sure, but just a
sense that's going on. So I think we'll see rising
house prices, but maybe sly in the past.
Speaker 2 (11:15):
Well that's good news, Kelvin, and I thank you for
joining us. Kelvin Davidson, core Logic's chief property economists. It
is now nineteen minutes after five. So we've got an
increase in training places for nurse practitioners and also more
advanced education for nurses, one hundred and twenty of them.
How is this going to affect our health sector. We'll
talk about this in a few moments time with Professor
(11:37):
warick Bag. It is now five twenty.
Speaker 1 (11:41):
The first word on the News of the Day early
edition with Andrew Dickens and One Room, Make your Property
search and symbol you talk with me.
Speaker 2 (11:50):
It's five twenty two. So it's been a big week
of health announcements. We've got the doctors one, now we've
got another one. The government's increasing the number of training
places for nurse practitioners, is specializing in primary care to
one hundred and twenty a year. Is also supporting advanced
education for up to one hundred and twenty registered nurses.
Professor Warwick bag is the Dean of Medical and Health
Sciences at Orkhan University. He's got a baarly for us.
(12:13):
Good morning to you, Warrick.
Speaker 9 (12:14):
Good morning Andrew.
Speaker 2 (12:15):
Wonderful news, isn't it? Is it enough? Will it make
a difference?
Speaker 9 (12:20):
Of course it will make a difference, Andrew. The Minister
has touched on all of the important points to improve
the numbers of healthcare workers in New Zealand. He's announced
nurse practitioner training, particularly in primary care. He's upskilling nurses
in rural education. He has supported new locally trained doctors.
(12:41):
And he's also making use of doctors that are already
here or perhaps arriving in New Zealand and helping them
to train to become general practitioners. So there's a range
of solutions and the Minister has injected money behind each
of those solutions which is really going to make a difference.
Some of those in the very near term, some of
those in the longer term.
Speaker 2 (12:59):
Obviously, obviously you appreciate and respect the Health Minister, which
is of course Simi and Brown, is the war between
the Health Ministry and all the practitioners coming to an end.
Speaker 9 (13:11):
Well, I think as a university were delighted to be
able to work with the Minister to help with their
education of folks who want to be health professionals to
meet New Zealand's needs. So we're definitely very delighted with
their announcement and helping the sector get back on its feet.
Speaker 2 (13:31):
And because you're at the university, because you're training these people,
are people coming to you for training? Do we have
the raw materials that can be formed into a health sector?
Speaker 9 (13:42):
Absolutely, Andrew, We've been absolutely delighted by the strength of
all of our educations this year. We are well experienced,
we've got a great track record, and we're really excited
about the way we can do this education and the
cost effective way we can do this education. So this
is really a very good news story and delighted by
(14:02):
the Minister's series of announcements.
Speaker 2 (14:04):
And finally, those people you're going to train are their
jobs for them at the other end.
Speaker 9 (14:09):
So one of the challenges with new nursing graduates. That's
been a particular challenge and something we need to keep
working through and I know that Health New Zealand is
committed to doing that. We seem to have no trouble
in finding places for doctors to work, so that's really
good news and with a focus on general practice, will
really be strengthening that part of the equation. So I
(14:33):
think it's a strong yes to your answer, with some
attention particularly to those areas around new graduate nurses.
Speaker 2 (14:39):
Well Wareck, thank you so much for your insight today.
Professor Warwick bag from the University of Auckland, the Medical
and health science is dean. Look at that. We just
had two good news stories in a row for this country.
Feeling good. You should. It's five twenty five.
Speaker 1 (14:54):
The early edition full the Show podcast on Ironart Radio
powered by News Talks.
Speaker 6 (14:59):
That me.
Speaker 2 (15:01):
It's us. He'll be five twenty seven. So Adrian Orr
is gone in a month. We don't know why was
he pushed, did he jump? Whatever? He'll probably breathe a
sigh of relief because Adrian Or has been at the
center of public scrutiny ever since he got the job
as New Zealand Superfund CEO, and he got that back
in two thousand and seven, and during his tenure as
(15:22):
Reserve Bank Governor, he was damned no matter what he did,
because here's the thing about being the Reserve Bank governor.
With every move there will always be victims who always
feel punished in the pocketbook. So everyone has an opinion
of Adrian Orr, and most are not complimentary. And honestly,
who needs that. He's sixty three, he's wealthy, and I'm
sure keen to return to anonymity. So was he as
(15:44):
bad as many say?
Speaker 10 (15:46):
Well?
Speaker 2 (15:46):
Had the Superfund, he was generally hailed as a good
operator who increased our savings, but he was also vilified
for taking a million dollar salary. You have to say, though,
that was well below equivalent private positions, But you know,
we looked at it. Was he stupid? No, he's got
an impressive CV. He's had stints in Paris at the OECD,
He's worked here with the National Bank, the Reserve Bank,
(16:08):
Westpac and then the Reserve Bank again. Then he got
the CEO job for the Superfund in two thousand and seven,
and then he became the governor. So if I have
one criticism of Adrian Or, well, no, I've got two. One,
he's a little bit woky, and you'll hear about that
as the day goes on. Some of his staff there's
a battle happening about his funding. But the other one
I have is his lack of confidence in New Zealanders.
(16:31):
When the pandemic started, he made money virtually free, believing
the economy would collapse. But it didn't because New Zealanders
found a way and the flood of money fueled the
fire of inflation, combined with a government that was drunk
on spending. And then when inflation rage, he reacted in
an orthodox way by raising the interest rates. But I
(16:51):
don't think he figured on a government that had then
turned the government spending tap off, turning his big stick
for the economy into a sledgehammer. Our macroeconomic policies have
reel from feast to famine over the past five years.
We'll like some drunks stumbling down the street, and it's
certainly time for some stability and some conservative policies and
(17:13):
to worry about the dollars and cents and nothing else.
So Adrian, after getting our ship headed towards the stable path,
has called it a day, and I wish him and
his family all the best, and I hope he enjoys
the piece in quiet, and I hope I never hear
his name again.
Speaker 1 (17:31):
Dickens.
Speaker 2 (17:32):
All right, at the trade war, Canada's reacted and they're
saying that consumer goods are going to rise in North
America in price big time. Over the next week. We'll
talk to Mitch mccamon for the US about all this.
Shortly here on New Stories.
Speaker 10 (17:45):
He'd been.
Speaker 1 (17:52):
Get ahead of the headlines on early edition. Andrew Dickens
and One Room, Make Your Property Search Simple News Talks.
Speaker 3 (18:00):
It be.
Speaker 2 (18:12):
Goodbody, Welcome to your Thursday. I'm Andrew Dickens. Yes, I
got my name right, I'm named for Ryan Bridge and
my producers just asked me, is this quickly going to
end soon? Well, I don't know. It's the mystery of
the game. This is why we watch. If we knew
when it was going to end, why would we watch it.
But it should end soon South because one hundred behind
(18:34):
us and they've only got one wicket left. So you know,
we're just sitting here just waiting for a glorious moment
when New Zealand will end out. In the final against
India in Dubai, Indias played all their games in Dubai.
It's their home patch in this tournament, so that's not
good news. But anyway, more on this bit later on. Look,
I'm off to my second event of the Aukland Arts
Festival tonight. I went to sixth the Music Hall last
(18:56):
weekend and that was great. I well recommend that even
more so because it was just seventy five minutes long
and it had no intermission, which is great. You know
how you go through the first half of something then
you have an into Michigan. Oh, I've go through another
half of all this no intermission, seventy five minutes in
out boom. It was fun. Tonight I'm going to a
troop of female aeralists called Belle, who are performing to
(19:19):
a soundtrack composed by a key week Eden Mulholland. This
show is also only one hour long, loving it. And
next week I'm off to a saucy cabaret in the
Speaker Tent and its charm is that it starts at
six thirty pm and again it's only an hour long. Fabulous.
These are great events for busy people who wake up
and sane the early and that's me. So today I'm
going to meet my partner in town. At six, We're
(19:40):
going to go to our favorite yakatory joint and help
stimulate the economy and fill our berry bellies, because that
is the upside of all these events. It gets people
out and it gets them spreading their cash through the economy.
And this seems to be something that Awkan's mayor is
realizing that it's council's job to promote events coming to
their cities. So all of a sudden he's talking up
the America's cut returning to our shores, which I don't
(20:02):
think he would have done at the beginning of his term.
Is this a good idea? Well, it would be lovely,
but I don't think it's going to happen. But big
civic events are good. They are stimulatory and we all
love them, so keep them coming. It's twenty one to six.
Speaker 1 (20:17):
Andrew Dickens just some quick texts.
Speaker 2 (20:19):
Everyone's got a theory about Adrian Orr. Jack reckons the
government is stacking for cover because they don't want us
to know what Adrian Or's payout was. Well, it's between
them and him, and who cares. Another good question raised
from the text is the real question is why did
staff numbers at the Reserve Bank grow so much under
the time that Adrian Or was there. What were they
(20:40):
doing that wasn't being done before? And this is the
battle that has been fought between the current government and
the governor for quite some time. Funding has gone through
the roof with Adrian Or, and he wanted even more
and the government was saying absolutely no way. Look we
got the big inflation because of you. That's why your
costs went up. How about you cut your costs. How
about you get back to knitting, how about be less
(21:01):
workI So that could be a reason why he's left.
And we'll talk more about this with Cameron bag Reep
very shortly, but right now it's trying to go right
around the country and say good morning to Callum Proctor
in Dunedin Halla, Callum morning, Andrew. So a university study
is exposed gaps in our education around beach safety.
Speaker 6 (21:21):
Yeah.
Speaker 11 (21:21):
What it's found is that only half of Kiwi beach
users could I identify a rip in photos and videos,
while people with surf related experience could spot them seventy
five percent of the time. So New Zealand recorded seventy
two drownings last year, many attributed to rip currents. The
lead author of the studies Rachel Irvings. She says it's
(21:44):
the first study of its kind to assess whether videos
are a more effective tool and education, so these results
are very concerning. She's now planning to look into how
AI can help educate beach users in the future.
Speaker 2 (21:56):
How's Donedian's weather fine today?
Speaker 11 (21:59):
Cloud develops this afternoon, a high of nineteen.
Speaker 2 (22:01):
Good job, callum, Thank you. Claire Sherwood from christ Church,
Good morning, Good morning. So what's the Cancer Society of
New Zealand up to in your town?
Speaker 8 (22:08):
Yeah?
Speaker 12 (22:08):
Well, this is the first for the Cancer Society. They're
hosting a first their first ever cancer Research and Innovation
conference right here in christ Church over the next two days.
Healthcare professionals are looking into some cancer research as well
as treatments and also efforts to combat the disease. The
role of biobanking to support such research. The global surgeon
(22:31):
under fifties, being diagnosed with cancer, and innovations in screening
are just some of the topics that they're planning to discuss.
Chief Executive Nicola Combe says the event's a critical platform
for collaboration and the fight against cancer. As our diagnosis
rates rise and how's Canterbury's weather fine with light winds
and some afternoon breezes a maximum of seventeen.
Speaker 2 (22:52):
Max told joins us from Wellington. Hello, Max, good morning.
You've got the Pride Festival coming up and security is
being beefed up. You're expecting trouble.
Speaker 7 (23:00):
Well expecting trouble, hopefully not. Brian Tarmacke's stunts in Auckland
really do have Wellington officials on high alert. The Pride
Parade specifically takes place this weekend. You're going to see
more police, dedicated security teams on standby apparently Pacifica Patrol
and Mardi Warden's according to the council as well. And
(23:20):
in the meantime, in the background to all this, you've
got this small transgender crossing in Breenpoor that's attracting more
and more attention. It's only a portion of the pedestrian
crossing in the suburb. It's in the median bay of
the crossing. It's colored in the transflag colours. The council
has told us it'll be removed because it goes against
their policies. Meanwhile, you've got MP Julianne Genter and several
(23:43):
councilors who as we predicted at the beginning of the week,
and now lobbying to keep it. And on social media
it's caught the attention of Tarmaki himself who's been spewing
about it. Pride Festival opens tomorrow with the various events
around the city. And how's the weather mostly cloudy with
a few showers, fresh southerly sixteen the high central and neither.
Speaker 2 (24:02):
Written mind who joins us from Auckland, hell and even
good morning? So the mayor is suddenly talking up a
return of the America's come Well.
Speaker 13 (24:08):
That's a chetta chatta chatter going on at the moment, Andrew.
So the big question where will funding come from for
a possible America's cut return to Auckland. So this comes
after confirmation of talks between Team New Zealand and Tartucki
Auckland Unlimited to bring the old Mug defense back to
the city of Sales. So as we all know, you know,
Team New zen and they're rejected that ninety nine million
(24:28):
dollar offer from the government host last years regretted then
that was moved to Barcelona. Commentator Peter Lester says there's
plenty of funding that's going to be needed given that,
you know, the event the technological advancements, and he says
that all the syndicates have morphed into technology companies, which
happen to sale yacht. So yes, that's a big question.
You know, who's got the money and how much is
it going to cost.
Speaker 2 (24:49):
Well, I don't think we have the money, but I
don't see any harm in trial.
Speaker 13 (24:52):
Well that's right, got on you.
Speaker 2 (24:54):
And by the way, the wind for Auckland this summer
has been awesome for sailing. I saw stein Lugger two
on harbor yesterday and it was in full flight.
Speaker 13 (25:01):
Oh it was quite windy day.
Speaker 2 (25:03):
Yeah, I know, I it was great for sailing. How's
the weather today?
Speaker 13 (25:06):
Fine? Southerly is a high of twenty one here in Auckland.
Speaker 2 (25:09):
And I thank you. And now more Adrian Or text Andrew.
I have no interest in why Adrian Or has left.
Just that he's gone is good enough news. The damage
that he Justinda and Grant did to this country borders
on criminal. According to Penny, I also wondered about the
fact that he was raising the interest rates while the
government was cutting the government spending under the National Raising,
(25:31):
and I wondered whether perhaps the two hands were not
looking at each other, the left and the right hand
weren't talking anyway. More on this with Camon Baggriage. Shortly
sixteen minutes to six. We're off to America with Mitch mccannext. Now,
what if everything you've been told about changing your health
is only half the story. Maybe it's a constant exhaustion,
or the weight that we' budge, or the creeping anxiety
(25:52):
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Speaker 1 (26:43):
International correspondence with Ends and Eye Insurance Peace of Mind
for New Zealand Business.
Speaker 2 (26:49):
Mitch McCann joins us from the United States of America
with the time at thirteen minutes to six.
Speaker 6 (26:54):
Hey Mitch, Hey, Andrew, how are you good?
Speaker 2 (26:56):
That speech to Congress went on and on and on
and on. It's a record breaker, a.
Speaker 6 (27:01):
Dead It was more than one hundred minutes, the longest
presidential address in modern history, where Donald Trump opened with
the phrase last night, America is back. He spent more
than one hundred minutes, as I mentioned, going over what
he called his achievements. But early on there was some disruption.
One Democrat had to be escorted out of the chamber
for hickling Donald Trump and others held up sign saying
(27:22):
things like false, but Donald Trump chose instead to taught
many of them, calling them radical left lunatics. But in
terms of any actual substance in his speech, he made
a point of saying that he appreciated Volotimya Zelensky's message
that Ukraine is ready to come to the negotiating table.
And that's interesting because this morning the United States has
(27:43):
paused the sharing of intelligence with Ukraine. The CIA director
told Fox Business that Donald Trump had a real question
about whether or not Zelensky was committed to the peace process,
and he said, let's pause. But that may not last
very long. The administration has really started softening its life
language about Zelensky and Ukraine since that now infamous blow
(28:04):
up at the Oval Office only a few days ago.
Speaker 2 (28:06):
Yeah, but they have strengthened their talk about tariffs against
almost all the world. Canada's reacting as well. What's the
reaction in America?
Speaker 6 (28:14):
Yeah, Canada very unhappy with this, justin Trudeau yesterday saying
it was a very dumb thing to do. Aimed at
Donald Trump that comment, but it's reported the peer. Donald
Trump and Trudeau are going to speak later today about this.
But we are learning this morning there might be some
relief here with the tariffs, specifically targeting the auto sector.
Howard Lucknet, donald Trump's Commerce secretary, was interviewed by Bloomberg
(28:37):
this morning. He said, there are going to be tariffs,
but Donald Trump's thinking about which sections of the market
he's considering going giving some relief to and the reports
are that could be the auto sector as soon as
the safternoon, and there is a lot of cars car
parts that transfer between Mexico, Canada and the US, so
that would be a lot of belief. We might know
(28:58):
as soon as the s afternoon. Hour and a half
from now. The White House is holding its press breeding,
so we may get some more information soon.
Speaker 2 (29:06):
Good stuff, Mitch McCann. Out of the United States of America,
it is ten to six decades. Well, Adrianaw's gone three
years early. Deputy Governor Christian Hawksby will step in as
an acting governor until the last day of this month.
The Finance Minister Nicola Willis acknowledged his service, does never
told us why he quit. Here is Reserve Bank Board
(29:27):
chair Neil Quickly last night.
Speaker 14 (29:29):
The job of the Reserve Bank governor is one where
you face unrelenting critique of your actions. No matter what
you do. There is a time when you think, having
achieved what you wanted to achieve, that's enough.
Speaker 2 (29:43):
And now we're joined by independent economist Cameron Baggery. Hey, Cameron,
a good warning. Everyone's got a theory about why Adrian
All left, what's yours?
Speaker 10 (29:53):
Oh, I don't have a theory. The room and mills
obviously an overdraft, but it's a it's a tough kick, right,
it's a it's a tough job, and sometimes your individuals
sort of reflect in regard to whether you want to
continue in a role. And obviously Adrian sort of decided
that it's time to move on. He's moved on, and
(30:13):
the important thing is that who's going to be next
in the job. And we can go back and self
reflect and regards to the job he's done. But yeah,
let's let's move on.
Speaker 2 (30:22):
And it's it's obvious that the current government didn't have
confidence in them and they've been having a war over funding.
Because that's the thing about the Reserve Bank under Adrian
or suddenly it has it's mushroomed and it's and it's
what wants to do and who it employees.
Speaker 10 (30:39):
You know, the the Reserve Bank has certainly mushroomed over
the past few years something good reasons and maybe for
some others. But yeah, there's a yeah, I think yeah,
the start he counts increased by what yeah, factor of
your two point five something like that. Yes, he got
a lot more regular for your oversight. There's some justification
(31:01):
for that. There's a few questions that probably did ask
on the other side as well. But when I think
about the Reserve Bank, Yeah, and this is particularly going
back Toy had ten to twenty years here. Their main
role is to be at monetary policy.
Speaker 2 (31:14):
Yes, Well, that's the thing is there's quite a few
people in the leadership teams that seem to have absolutely
no economic experience, and there's that Adrian's legacy to leave
behind a woke bank that wasn't actually looking after the
dollars and cents.
Speaker 10 (31:26):
Yeah, on one thing. You can have your critiques and
that sort of stuff, But yeah, you go back and
these it's been a pretty tough job over the past
sort of three or four years facing COVID, we went
into an extraordinary shock and regard and do they over
engineer the economic recovery? The answer is yes, they the
over engineer the economic downt and the answer is yes
(31:49):
to sort of put us back on the economic plane
of normality, and normality now beacons. But there is obviously
a lot of questions about how the reserve bankers you
potentially overreached into other areas. Probably the biggest one is
what the Reserve Bank has done in regard to you're
getting the banks to hold more capital. And of course
when the banks have held more capital, I've just shifted
(32:14):
their capital from the low risk into the low risk
housing market the expense of the business sector, and that's
been a bit of an economic break and productivity and
economic growth.
Speaker 2 (32:24):
You're quite right, though, Cameron. The only world question is
who's going to do the job next to you? Preparing
your CV.
Speaker 10 (32:31):
Haven't had that call and quite heaped with what I'm
doing at the moment.
Speaker 2 (32:34):
Good only, Cameron Bagri Independent Economists. These talks d be on.
Speaker 1 (32:38):
Your radio and online on iHeartRadio early edition with Andrew
Dickens and one roof Make your Property Search Simple Youth Talks.
Speaker 2 (32:48):
Said be ladies and gentlemen. Very good news. New Zealand's
just bet in South Africa by fifty runs. The handshakes
do belong to New Zealand.
Speaker 7 (32:55):
Here they have won this semi final vote fifty year runs.
Speaker 1 (33:01):
That will be the.
Speaker 15 (33:01):
Third minor in the last six Icy Sea Whiteboard tournaments.
Speaker 2 (33:07):
So it goes to Dubai. India has been playing all
their games in Dubai. They know that block inside out
we've played the months on that block we lost, so
that's not good. But how we're in the finals, so
that's good news. And make husking joints.
Speaker 15 (33:18):
The hell suxists in life is about what's in your head,
not on the block. You play any block. If you
believe you're going to whin, you're going to win, as
simple as that. By the way, we're going to talk education, well,
Adrian or obviously, so the big thing seems to be
he's hosting a wazz is not now there's a big
get together of Reserve Bank type people. Bananki was remembered
in Baniki. He was his beer apparently, Yeah, he was
(33:40):
going to disguishing, So he's not going to be there anymore.
So he's clearly he's packed a massive sad and gone
and stormed out.
Speaker 2 (33:47):
And there's a massive battle about funding.
Speaker 15 (33:48):
And that says you, well, that'll be something to do
with it. But that says something about all, doesn't it
that you can't lead with a little bit of dignity.
Speaker 7 (33:55):
Place or whatever.
Speaker 15 (33:56):
So to look at this also the education. This morning
we're in classrooms like you'd never hear. And I thank
my producer Kimsey. My name is Andrew dickinsei tomorrow.
Speaker 1 (34:13):
For more from Early Edition with Ryan Bridge. Listen live
to News Talks it Be from five am weekdays, or
follow the podcast on iHeartRadio
The issues is the interviews and the insight. Andrew dickens
on early edition with one roof make your property search simple,
used talks, it'd be.
Speaker 2 (00:14):
Yes, goodbody to you and welcome and thank you so
much for choosing us. Coming up earlier. The next sixty minutes,
property prices are back on the rise, but not by much.
How much Well Core Logic will join us in five minutes.
There's more funding for doctors and nurses. How will ed help.
We'll have that story for you in ten how civic
funding for events is a good thing. And Adrian or
(00:36):
is off. We're going to talk to Cameron Baggery about
how he's left the Reserve Bank. We're going to have
correspondence from around New Zealand and around the world, and
news as it breaks. We'll keep you up to date
with the cricket. We well South Africa needs one hundred
and forty three runs and sixty two balls. Don't think
it's going to happen. Think we're going to win, but
we'll keep you in touch with that and you can
text us anytime you like. Ninety two ninety two is
(00:57):
the number of small charge applies. It's seven after five.
Speaker 1 (01:01):
The agenda so it's Thursday, the.
Speaker 2 (01:03):
Sixth of the March. White House National Security Advisor Mike
Waltz says the US is pausing intelligence sharing with Ukraine. However,
he suggested he'd be open to lifting the military a
freeze if peace talks progress.
Speaker 3 (01:18):
I think we've seen movement in the last twenty four
hours that the Ukrainian side will actually come to the
table and negotiate a partial truce, a full truce, and
then a permanent peace.
Speaker 2 (01:29):
Last night, President Trump made his first address of his
second term to Congress. It's a very entertaining watched a
great afternoon speed watching that he took a moment to
mention Ukraine's President Vladimir Zelenski after days of criticizing him.
Speaker 4 (01:42):
Today I received an important letter from President Zelensky of Ukraine.
The letter reads, Ukraine is ready to come to the
negotiating table as soon as possible to bring lasting peace closer.
We've had serious discussions with Russia and have received strong
signals that they are ready for peace. Wouldn't that be beautiful?
Speaker 2 (02:03):
And we've had a lot of back and forth on
the trade war, and President Trump has made it clear
he's not backing down.
Speaker 4 (02:10):
And whatever they tariff us other countries, we will teriff them.
That's reciprocal back and forth. Whatever they tax us, we
will tax them.
Speaker 2 (02:22):
Meanwhile, Canadian Prime Minis suggests and Trudeau he's standing his ground.
Speaker 5 (02:27):
Canadians are reasonable and we are polite, but we will
not back down from a fight. Canada will be implementing
twenty five percent tariffs against one hundred and fifty five
billion dollars worth of American goods, starting with tariffs on
thirty billion dollars worth of goods immediately, and tariffs on
(02:48):
the remaining one hundred and twenty five billion dollars of
American products in twenty one day's time.
Speaker 2 (02:54):
Well, she's all on eh. And finally, Florida has launched
a criminal investigation into the influence of brothers Andrew Tate
and Tristian Tate. They flew to the States last week
from Romania, where they faced rape and human trafficking charges.
So Florida's Attorney General, James Uthmeier says investigators have issued
search warrants and subpoenas as part of a now active inquiry.
(03:18):
It's coming up ten after five.
Speaker 1 (03:20):
News and Views You Trust has done Your Day. It's
early edition with Andrew Dickens and one roof make your
Property Search Simple, youth Talk Sidy.
Speaker 6 (03:30):
Yeah.
Speaker 2 (03:30):
So I watched the State of the Union yesterday afternoon. Boy,
it was the entertaining. It was raucus. President Trump addressed
Congress and he spoke and he spoke, and he spoke
and he spoke. His was the longest State of Union ever,
beating Bill Clinton's one hour and twenty effort by twenty minutes.
An hour and forty he spoke for and you were
left with absolutely no doubt that the man loves tariffs.
(03:52):
They're a beautiful thing. He's looking to make America great
again by punishing the rest of the world with these tariffs,
and it's going to hurt everyone, including America, which you
have to say, is disruption at its biggest and best.
I bet the tech bros love it, whether Trump and
anti globalists like it or not. We are living in
the most interconnected global economy in history, and he has
(04:14):
to remember you cannot undo a century of trading with
one tax. So these tariffs will hurt American businesses and
we saw that with the collapse of the Dow over
the course of the week. But everyone else is going
to get hit, especially small export nations like ourselves. We
know that tariffs are coming to the agriculture sector. What
do we do agriculture? But I think people don't quite
realize just how far into our economy the American shutdown
(04:36):
will affect billions in Keiwi, Savor, New Zealand, super and
private investor funds are going to be lost because of
their exposure to the American markets. We're told, don't look
at your balance. Maybe it will get better later, hope so.
And if Trump is successful and America rises out of
its dependence on cheap foreign labor and imported products and
(04:57):
starts becoming the self sufficient nation that the president wants,
then it's debatable that we'll ever get back in there
to sell our stuff the way we used to. The
tariffs will impoverish America in the short term, but if
he's right, the long term American future could look bright.
But for the rest of the world, including us, our
prospects have certainly taken a hit, you know, And it's
(05:18):
just as things were starting.
Speaker 7 (05:19):
To look better.
Speaker 2 (05:20):
Andrew dickins, it is now twelve minutes out of five. Now, Look,
there's nothing wrong with the war against emissions, just forget
climate change, just part that for a moment. Just think
about the crap that's going into your lungs. All the
oxygen humankind can ever breathe is locked inside a twelve
mile high bubble around the globe called the bias. For you,
(05:41):
and pumping too many poisons into it, well it's suicidal.
So we find out today that half of the world's
climate heating carbon emissions come from the fossil fuels produced
by just thirty six companies. The report found that the
thirty six major fossil fuel companies, including soud The Aramco, Coal, India,
(06:02):
Xon Mobil, Shell, BP and numerous Chinese companies, produce coal,
oil and gas, responsible for more than twenty billion tons
of CO two emissions in twenty twenty three. So if
Saudi Aramco was a country, it would be the fourth
biggest polluter in the world after China, the US, and India,
(06:24):
and while Exon Mobil is responsible for about the same
mission emissions as Germany and Germany is the ninth biggest
polluter according to the data. And despite all the miles
of column inches that keep being pumped out about climate
change and carbon emissions, the thirty six companies have never
ever reduced their emissions, so I see that calling them
(06:47):
out is a good thing and anything they can do
to reduce their output would be appreciated because we all
like fresh air. We only get one planet and we
should take care of it. It's thirteen after five, so
call logics come out again and shown some life in
the housing market. But just how much we'll tell you
in a few moments time, and we'll also ask the
(07:07):
question how long will it last? This is News Talk's sabb.
Speaker 1 (07:12):
The news you need this morning and the in depth
analysis early edition with Andrew Dickens and one roof make
your Property search Simple.
Speaker 2 (07:21):
News Talk SIBB sixteen after five, South Africa two thirty
seven for eight, one hundred and twenty six runs and
forty seven balls to win. And well it looks like
we're going to do it, which is awesome news. Speaking
of sports, by the way, Mayor Wayne Brown has said
that the councilor should start looking at bringing the America's
(07:42):
Cup back to Aucand and he's calling on government to
do this as well. What do you think is this
a good idea or not? You can text me ninety
two ninety two. Now we might have some signs of
life in the housing market. Core Logic's latest numbers are
showing a zero point three percent rise in property values
in February. Now, that follows a four point one percent
drop over March to September last year. This is the
(08:04):
biggest game since January last year. So is this the
sign of a recovery? Well, someone who will know this
is Calvin Davidson, whose core Logic's chief property economists, and
he joins it now, Hello, Calvin, good morning. Why's it
going up?
Speaker 8 (08:20):
Well, interest rates basically, I mean we've seen before the
impact that lower interest rates can have, and I think
we're seeing there again. There are still restraints as well,
things like the week of labor market. There's a lot
of listings out there, so I think you'd probably still
call it a buyer's market. But certainly the impact of
lower interest rates is huge. People can just have a
bit more cash to spend on a house, all right.
Speaker 2 (08:40):
Well, prices are down nearly seventeen percent from the peak
in the middle of the pandemic where we just decided
to buy houses because we had nothing else to do.
But we're still well above the pre COVID numbers by
seventeen percent, So are we going to continue to be
so volatile?
Speaker 8 (08:56):
I think we're probably setting into a more stable phase
and the interest rates hopefully have settled down a bit.
I thank COVID's five years on now, so you think
we're back to some kind of normality. We've got a
little bit of wage growth coming through, so you think
that there's a recently steady path of the house prices ahead.
But I don't think we're going to go into a
new boom because there are those restraints out there. There
(09:18):
still are a lot of listings. Affordability is a challenge,
and this time we've got debt to income ratio restrictions
which we didn't have last time. So as interest rates
come down, particularly those test rates at the benks, the
internal rates they check affordability with. As they come down
that's been debt to income ratios start or start take hold,
and they will sort of limit loan sizes and limit
(09:39):
house prices. So there's sort of forces in both directions.
Speaker 2 (09:42):
I guess we've always talked about house supply. Is that
still a problem.
Speaker 8 (09:46):
Well, I think really the mean measuring housing so called
housing shortages, is a little bit tricky, but I think
at the moment, there's a general feeling in the market's
fairly balanced, and we've seen that. Okay, the construction sector's
been in the down over the past couple of years,
but prior to that had a huge boom. Some of
that tail the end of those properties are still coming through,
(10:07):
still being put into the market or finished. So I
think supply and demand are probably fairly well balanced. Actually,
we've had net migration tail off a lot, so population
growth has slowed down. So I just think the risks
of shortages and I guess spikes and house prices driven
by not having enough houses, I think those risks are
much less than the past.
Speaker 2 (10:27):
And can New Zealanders still bank on their biggest asset
continuing to appreciate year on year or not?
Speaker 9 (10:34):
I think so.
Speaker 4 (10:35):
Yeah.
Speaker 8 (10:35):
I mean you tend to see through time a bit
of general inflation, you tend to see some wage growth,
we tend to see population growth. All of those underlying fundamentals,
if you like, supportive for house prices. But yeah, I
just think that it's probably a steadier past and perhaps
some of the big booms who've seen historically partly because
of those set to income raciare restrictions and maybe just
(10:55):
maybe there's a wee bit of a societal change going
on where where people are she realizing if a rising
house prices are not necessarily a good thing, especially for
the next generation trying to buy, so hard to measure,
hard to say if that's for sure, but just a
sense that's going on. So I think we'll see rising
house prices, but maybe sly in the past.
Speaker 2 (11:15):
Well that's good news, Kelvin, and I thank you for
joining us. Kelvin Davidson, core Logic's chief property economists. It
is now nineteen minutes after five. So we've got an
increase in training places for nurse practitioners and also more
advanced education for nurses, one hundred and twenty of them.
How is this going to affect our health sector. We'll
talk about this in a few moments time with Professor
(11:37):
warick Bag. It is now five twenty.
Speaker 1 (11:41):
The first word on the News of the Day early
edition with Andrew Dickens and One Room, Make your Property
search and symbol you talk with me.
Speaker 2 (11:50):
It's five twenty two. So it's been a big week
of health announcements. We've got the doctors one, now we've
got another one. The government's increasing the number of training
places for nurse practitioners, is specializing in primary care to
one hundred and twenty a year. Is also supporting advanced
education for up to one hundred and twenty registered nurses.
Professor Warwick bag is the Dean of Medical and Health
Sciences at Orkhan University. He's got a baarly for us.
(12:13):
Good morning to you, Warrick.
Speaker 9 (12:14):
Good morning Andrew.
Speaker 2 (12:15):
Wonderful news, isn't it? Is it enough? Will it make
a difference?
Speaker 9 (12:20):
Of course it will make a difference, Andrew. The Minister
has touched on all of the important points to improve
the numbers of healthcare workers in New Zealand. He's announced
nurse practitioner training, particularly in primary care. He's upskilling nurses
in rural education. He has supported new locally trained doctors.
(12:41):
And he's also making use of doctors that are already
here or perhaps arriving in New Zealand and helping them
to train to become general practitioners. So there's a range
of solutions and the Minister has injected money behind each
of those solutions which is really going to make a difference.
Some of those in the very near term, some of
those in the longer term.
Speaker 2 (12:59):
Obviously, obviously you appreciate and respect the Health Minister, which
is of course Simi and Brown, is the war between
the Health Ministry and all the practitioners coming to an end.
Speaker 9 (13:11):
Well, I think as a university were delighted to be
able to work with the Minister to help with their
education of folks who want to be health professionals to
meet New Zealand's needs. So we're definitely very delighted with
their announcement and helping the sector get back on its feet.
Speaker 2 (13:31):
And because you're at the university, because you're training these people,
are people coming to you for training? Do we have
the raw materials that can be formed into a health sector?
Speaker 9 (13:42):
Absolutely, Andrew, We've been absolutely delighted by the strength of
all of our educations this year. We are well experienced,
we've got a great track record, and we're really excited
about the way we can do this education and the
cost effective way we can do this education. So this
is really a very good news story and delighted by
(14:02):
the Minister's series of announcements.
Speaker 2 (14:04):
And finally, those people you're going to train are their
jobs for them at the other end.
Speaker 9 (14:09):
So one of the challenges with new nursing graduates. That's
been a particular challenge and something we need to keep
working through and I know that Health New Zealand is
committed to doing that. We seem to have no trouble
in finding places for doctors to work, so that's really
good news and with a focus on general practice, will
really be strengthening that part of the equation. So I
(14:33):
think it's a strong yes to your answer, with some
attention particularly to those areas around new graduate nurses.
Speaker 2 (14:39):
Well Wareck, thank you so much for your insight today.
Professor Warwick bag from the University of Auckland, the Medical
and health science is dean. Look at that. We just
had two good news stories in a row for this country.
Feeling good. You should. It's five twenty five.
Speaker 1 (14:54):
The early edition full the Show podcast on Ironart Radio
powered by News Talks.
Speaker 6 (14:59):
That me.
Speaker 2 (15:01):
It's us. He'll be five twenty seven. So Adrian Orr
is gone in a month. We don't know why was
he pushed, did he jump? Whatever? He'll probably breathe a
sigh of relief because Adrian Or has been at the
center of public scrutiny ever since he got the job
as New Zealand Superfund CEO, and he got that back
in two thousand and seven, and during his tenure as
(15:22):
Reserve Bank Governor, he was damned no matter what he did,
because here's the thing about being the Reserve Bank governor.
With every move there will always be victims who always
feel punished in the pocketbook. So everyone has an opinion
of Adrian Orr, and most are not complimentary. And honestly,
who needs that. He's sixty three, he's wealthy, and I'm
sure keen to return to anonymity. So was he as
(15:44):
bad as many say?
Speaker 10 (15:46):
Well?
Speaker 2 (15:46):
Had the Superfund, he was generally hailed as a good
operator who increased our savings, but he was also vilified
for taking a million dollar salary. You have to say, though,
that was well below equivalent private positions, But you know,
we looked at it. Was he stupid? No, he's got
an impressive CV. He's had stints in Paris at the OECD,
He's worked here with the National Bank, the Reserve Bank,
(16:08):
Westpac and then the Reserve Bank again. Then he got
the CEO job for the Superfund in two thousand and seven,
and then he became the governor. So if I have
one criticism of Adrian Or, well, no, I've got two. One,
he's a little bit woky, and you'll hear about that
as the day goes on. Some of his staff there's
a battle happening about his funding. But the other one
I have is his lack of confidence in New Zealanders.
(16:31):
When the pandemic started, he made money virtually free, believing
the economy would collapse. But it didn't because New Zealanders
found a way and the flood of money fueled the
fire of inflation, combined with a government that was drunk
on spending. And then when inflation rage, he reacted in
an orthodox way by raising the interest rates. But I
(16:51):
don't think he figured on a government that had then
turned the government spending tap off, turning his big stick
for the economy into a sledgehammer. Our macroeconomic policies have
reel from feast to famine over the past five years.
We'll like some drunks stumbling down the street, and it's
certainly time for some stability and some conservative policies and
(17:13):
to worry about the dollars and cents and nothing else.
So Adrian, after getting our ship headed towards the stable path,
has called it a day, and I wish him and
his family all the best, and I hope he enjoys
the piece in quiet, and I hope I never hear
his name again.
Speaker 1 (17:31):
Dickens.
Speaker 2 (17:32):
All right, at the trade war, Canada's reacted and they're
saying that consumer goods are going to rise in North
America in price big time. Over the next week. We'll
talk to Mitch mccamon for the US about all this.
Shortly here on New Stories.
Speaker 10 (17:45):
He'd been.
Speaker 1 (17:52):
Get ahead of the headlines on early edition. Andrew Dickens
and One Room, Make Your Property Search Simple News Talks.
Speaker 3 (18:00):
It be.
Speaker 2 (18:12):
Goodbody, Welcome to your Thursday. I'm Andrew Dickens. Yes, I
got my name right, I'm named for Ryan Bridge and
my producers just asked me, is this quickly going to
end soon? Well, I don't know. It's the mystery of
the game. This is why we watch. If we knew
when it was going to end, why would we watch it.
But it should end soon South because one hundred behind
(18:34):
us and they've only got one wicket left. So you know,
we're just sitting here just waiting for a glorious moment
when New Zealand will end out. In the final against
India in Dubai, Indias played all their games in Dubai.
It's their home patch in this tournament, so that's not
good news. But anyway, more on this bit later on. Look,
I'm off to my second event of the Aukland Arts
Festival tonight. I went to sixth the Music Hall last
(18:56):
weekend and that was great. I well recommend that even
more so because it was just seventy five minutes long
and it had no intermission, which is great. You know
how you go through the first half of something then
you have an into Michigan. Oh, I've go through another
half of all this no intermission, seventy five minutes in
out boom. It was fun. Tonight I'm going to a
troop of female aeralists called Belle, who are performing to
(19:19):
a soundtrack composed by a key week Eden Mulholland. This
show is also only one hour long, loving it. And
next week I'm off to a saucy cabaret in the
Speaker Tent and its charm is that it starts at
six thirty pm and again it's only an hour long. Fabulous.
These are great events for busy people who wake up
and sane the early and that's me. So today I'm
going to meet my partner in town. At six, We're
(19:40):
going to go to our favorite yakatory joint and help
stimulate the economy and fill our berry bellies, because that
is the upside of all these events. It gets people
out and it gets them spreading their cash through the economy.
And this seems to be something that Awkan's mayor is
realizing that it's council's job to promote events coming to
their cities. So all of a sudden he's talking up
the America's cut returning to our shores, which I don't
(20:02):
think he would have done at the beginning of his term.
Is this a good idea? Well, it would be lovely,
but I don't think it's going to happen. But big
civic events are good. They are stimulatory and we all
love them, so keep them coming. It's twenty one to six.
Speaker 1 (20:17):
Andrew Dickens just some quick texts.
Speaker 2 (20:19):
Everyone's got a theory about Adrian Orr. Jack reckons the
government is stacking for cover because they don't want us
to know what Adrian Or's payout was. Well, it's between
them and him, and who cares. Another good question raised
from the text is the real question is why did
staff numbers at the Reserve Bank grow so much under
the time that Adrian Or was there. What were they
(20:40):
doing that wasn't being done before? And this is the
battle that has been fought between the current government and
the governor for quite some time. Funding has gone through
the roof with Adrian Or, and he wanted even more
and the government was saying absolutely no way. Look we
got the big inflation because of you. That's why your
costs went up. How about you cut your costs. How
about you get back to knitting, how about be less
(21:01):
workI So that could be a reason why he's left.
And we'll talk more about this with Cameron bag Reep
very shortly, but right now it's trying to go right
around the country and say good morning to Callum Proctor
in Dunedin Halla, Callum morning, Andrew. So a university study
is exposed gaps in our education around beach safety.
Speaker 6 (21:21):
Yeah.
Speaker 11 (21:21):
What it's found is that only half of Kiwi beach
users could I identify a rip in photos and videos,
while people with surf related experience could spot them seventy
five percent of the time. So New Zealand recorded seventy
two drownings last year, many attributed to rip currents. The
lead author of the studies Rachel Irvings. She says it's
(21:44):
the first study of its kind to assess whether videos
are a more effective tool and education, so these results
are very concerning. She's now planning to look into how
AI can help educate beach users in the future.
Speaker 2 (21:56):
How's Donedian's weather fine today?
Speaker 11 (21:59):
Cloud develops this afternoon, a high of nineteen.
Speaker 2 (22:01):
Good job, callum, Thank you. Claire Sherwood from christ Church,
Good morning, Good morning. So what's the Cancer Society of
New Zealand up to in your town?
Speaker 8 (22:08):
Yeah?
Speaker 12 (22:08):
Well, this is the first for the Cancer Society. They're
hosting a first their first ever cancer Research and Innovation
conference right here in christ Church over the next two days.
Healthcare professionals are looking into some cancer research as well
as treatments and also efforts to combat the disease. The
role of biobanking to support such research. The global surgeon
(22:31):
under fifties, being diagnosed with cancer, and innovations in screening
are just some of the topics that they're planning to discuss.
Chief Executive Nicola Combe says the event's a critical platform
for collaboration and the fight against cancer. As our diagnosis
rates rise and how's Canterbury's weather fine with light winds
and some afternoon breezes a maximum of seventeen.
Speaker 2 (22:52):
Max told joins us from Wellington. Hello, Max, good morning.
You've got the Pride Festival coming up and security is
being beefed up. You're expecting trouble.
Speaker 7 (23:00):
Well expecting trouble, hopefully not. Brian Tarmacke's stunts in Auckland
really do have Wellington officials on high alert. The Pride
Parade specifically takes place this weekend. You're going to see
more police, dedicated security teams on standby apparently Pacifica Patrol
and Mardi Warden's according to the council as well. And
(23:20):
in the meantime, in the background to all this, you've
got this small transgender crossing in Breenpoor that's attracting more
and more attention. It's only a portion of the pedestrian
crossing in the suburb. It's in the median bay of
the crossing. It's colored in the transflag colours. The council
has told us it'll be removed because it goes against
their policies. Meanwhile, you've got MP Julianne Genter and several
(23:43):
councilors who as we predicted at the beginning of the week,
and now lobbying to keep it. And on social media
it's caught the attention of Tarmaki himself who's been spewing
about it. Pride Festival opens tomorrow with the various events
around the city. And how's the weather mostly cloudy with
a few showers, fresh southerly sixteen the high central and neither.
Speaker 2 (24:02):
Written mind who joins us from Auckland, hell and even
good morning? So the mayor is suddenly talking up a
return of the America's come Well.
Speaker 13 (24:08):
That's a chetta chatta chatter going on at the moment, Andrew.
So the big question where will funding come from for
a possible America's cut return to Auckland. So this comes
after confirmation of talks between Team New Zealand and Tartucki
Auckland Unlimited to bring the old Mug defense back to
the city of Sales. So as we all know, you know,
Team New zen and they're rejected that ninety nine million
(24:28):
dollar offer from the government host last years regretted then
that was moved to Barcelona. Commentator Peter Lester says there's
plenty of funding that's going to be needed given that,
you know, the event the technological advancements, and he says
that all the syndicates have morphed into technology companies, which
happen to sale yacht. So yes, that's a big question.
You know, who's got the money and how much is
it going to cost.
Speaker 2 (24:49):
Well, I don't think we have the money, but I
don't see any harm in trial.
Speaker 13 (24:52):
Well that's right, got on you.
Speaker 2 (24:54):
And by the way, the wind for Auckland this summer
has been awesome for sailing. I saw stein Lugger two
on harbor yesterday and it was in full flight.
Speaker 13 (25:01):
Oh it was quite windy day.
Speaker 2 (25:03):
Yeah, I know, I it was great for sailing. How's
the weather today?
Speaker 13 (25:06):
Fine? Southerly is a high of twenty one here in Auckland.
Speaker 2 (25:09):
And I thank you. And now more Adrian Or text Andrew.
I have no interest in why Adrian Or has left.
Just that he's gone is good enough news. The damage
that he Justinda and Grant did to this country borders
on criminal. According to Penny, I also wondered about the
fact that he was raising the interest rates while the
government was cutting the government spending under the National Raising,
(25:31):
and I wondered whether perhaps the two hands were not
looking at each other, the left and the right hand
weren't talking anyway. More on this with Camon Baggriage. Shortly
sixteen minutes to six. We're off to America with Mitch mccannext. Now,
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Speaker 1 (26:43):
International correspondence with Ends and Eye Insurance Peace of Mind
for New Zealand Business.
Speaker 2 (26:49):
Mitch McCann joins us from the United States of America
with the time at thirteen minutes to six.
Speaker 6 (26:54):
Hey Mitch, Hey, Andrew, how are you good?
Speaker 2 (26:56):
That speech to Congress went on and on and on
and on. It's a record breaker, a.
Speaker 6 (27:01):
Dead It was more than one hundred minutes, the longest
presidential address in modern history, where Donald Trump opened with
the phrase last night, America is back. He spent more
than one hundred minutes, as I mentioned, going over what
he called his achievements. But early on there was some disruption.
One Democrat had to be escorted out of the chamber
for hickling Donald Trump and others held up sign saying
(27:22):
things like false, but Donald Trump chose instead to taught
many of them, calling them radical left lunatics. But in
terms of any actual substance in his speech, he made
a point of saying that he appreciated Volotimya Zelensky's message
that Ukraine is ready to come to the negotiating table.
And that's interesting because this morning the United States has
(27:43):
paused the sharing of intelligence with Ukraine. The CIA director
told Fox Business that Donald Trump had a real question
about whether or not Zelensky was committed to the peace process,
and he said, let's pause. But that may not last
very long. The administration has really started softening its life
language about Zelensky and Ukraine since that now infamous blow
(28:04):
up at the Oval Office only a few days ago.
Speaker 2 (28:06):
Yeah, but they have strengthened their talk about tariffs against
almost all the world. Canada's reacting as well. What's the
reaction in America?
Speaker 6 (28:14):
Yeah, Canada very unhappy with this, justin Trudeau yesterday saying
it was a very dumb thing to do. Aimed at
Donald Trump that comment, but it's reported the peer. Donald
Trump and Trudeau are going to speak later today about this.
But we are learning this morning there might be some
relief here with the tariffs, specifically targeting the auto sector.
Howard Lucknet, donald Trump's Commerce secretary, was interviewed by Bloomberg
(28:37):
this morning. He said, there are going to be tariffs,
but Donald Trump's thinking about which sections of the market
he's considering going giving some relief to and the reports
are that could be the auto sector as soon as
the safternoon, and there is a lot of cars car
parts that transfer between Mexico, Canada and the US, so
that would be a lot of belief. We might know
(28:58):
as soon as the s afternoon. Hour and a half
from now. The White House is holding its press breeding,
so we may get some more information soon.
Speaker 2 (29:06):
Good stuff, Mitch McCann. Out of the United States of America,
it is ten to six decades. Well, Adrianaw's gone three
years early. Deputy Governor Christian Hawksby will step in as
an acting governor until the last day of this month.
The Finance Minister Nicola Willis acknowledged his service, does never
told us why he quit. Here is Reserve Bank Board
(29:27):
chair Neil Quickly last night.
Speaker 14 (29:29):
The job of the Reserve Bank governor is one where
you face unrelenting critique of your actions. No matter what
you do. There is a time when you think, having
achieved what you wanted to achieve, that's enough.
Speaker 2 (29:43):
And now we're joined by independent economist Cameron Baggery. Hey, Cameron,
a good warning. Everyone's got a theory about why Adrian
All left, what's yours?
Speaker 10 (29:53):
Oh, I don't have a theory. The room and mills
obviously an overdraft, but it's a it's a tough kick, right,
it's a it's a tough job, and sometimes your individuals
sort of reflect in regard to whether you want to
continue in a role. And obviously Adrian sort of decided
that it's time to move on. He's moved on, and
(30:13):
the important thing is that who's going to be next
in the job. And we can go back and self
reflect and regards to the job he's done. But yeah,
let's let's move on.
Speaker 2 (30:22):
And it's it's obvious that the current government didn't have
confidence in them and they've been having a war over funding.
Because that's the thing about the Reserve Bank under Adrian
or suddenly it has it's mushroomed and it's and it's
what wants to do and who it employees.
Speaker 10 (30:39):
You know, the the Reserve Bank has certainly mushroomed over
the past few years something good reasons and maybe for
some others. But yeah, there's a yeah, I think yeah,
the start he counts increased by what yeah, factor of
your two point five something like that. Yes, he got
a lot more regular for your oversight. There's some justification
(31:01):
for that. There's a few questions that probably did ask
on the other side as well. But when I think
about the Reserve Bank, Yeah, and this is particularly going
back Toy had ten to twenty years here. Their main
role is to be at monetary policy.
Speaker 2 (31:14):
Yes, Well, that's the thing is there's quite a few
people in the leadership teams that seem to have absolutely
no economic experience, and there's that Adrian's legacy to leave
behind a woke bank that wasn't actually looking after the
dollars and cents.
Speaker 10 (31:26):
Yeah, on one thing. You can have your critiques and
that sort of stuff, But yeah, you go back and
these it's been a pretty tough job over the past
sort of three or four years facing COVID, we went
into an extraordinary shock and regard and do they over
engineer the economic recovery? The answer is yes, they the
over engineer the economic downt and the answer is yes
(31:49):
to sort of put us back on the economic plane
of normality, and normality now beacons. But there is obviously
a lot of questions about how the reserve bankers you
potentially overreached into other areas. Probably the biggest one is
what the Reserve Bank has done in regard to you're
getting the banks to hold more capital. And of course
when the banks have held more capital, I've just shifted
(32:14):
their capital from the low risk into the low risk
housing market the expense of the business sector, and that's
been a bit of an economic break and productivity and
economic growth.
Speaker 2 (32:24):
You're quite right, though, Cameron. The only world question is
who's going to do the job next to you? Preparing
your CV.
Speaker 10 (32:31):
Haven't had that call and quite heaped with what I'm
doing at the moment.
Speaker 2 (32:34):
Good only, Cameron Bagri Independent Economists. These talks d be on.
Speaker 1 (32:38):
Your radio and online on iHeartRadio early edition with Andrew
Dickens and one roof Make your Property Search Simple Youth Talks.
Speaker 2 (32:48):
Said be ladies and gentlemen. Very good news. New Zealand's
just bet in South Africa by fifty runs. The handshakes
do belong to New Zealand.
Speaker 7 (32:55):
Here they have won this semi final vote fifty year runs.
Speaker 1 (33:01):
That will be the.
Speaker 15 (33:01):
Third minor in the last six Icy Sea Whiteboard tournaments.
Speaker 2 (33:07):
So it goes to Dubai. India has been playing all
their games in Dubai. They know that block inside out
we've played the months on that block we lost, so
that's not good. But how we're in the finals, so
that's good news. And make husking joints.
Speaker 15 (33:18):
The hell suxists in life is about what's in your head,
not on the block. You play any block. If you
believe you're going to whin, you're going to win, as
simple as that. By the way, we're going to talk education, well,
Adrian or obviously, so the big thing seems to be
he's hosting a wazz is not now there's a big
get together of Reserve Bank type people. Bananki was remembered
in Baniki. He was his beer apparently, Yeah, he was
(33:40):
going to disguishing, So he's not going to be there anymore.
So he's clearly he's packed a massive sad and gone
and stormed out.
Speaker 2 (33:47):
And there's a massive battle about funding.
Speaker 15 (33:48):
And that says you, well, that'll be something to do
with it. But that says something about all, doesn't it
that you can't lead with a little bit of dignity.
Speaker 7 (33:55):
Place or whatever.
Speaker 15 (33:56):
So to look at this also the education. This morning
we're in classrooms like you'd never hear. And I thank
my producer Kimsey. My name is Andrew dickinsei tomorrow.
Speaker 1 (34:13):
For more from Early Edition with Ryan Bridge. Listen live
to News Talks it Be from five am weekdays, or
follow the podcast on iHeartRadio
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