July 20, 2026 • 34 mins
On the Early Edition with Ryan Bridge Full Show Podcast Tuesday 21st of July 2026, Inflation figures are out today, Independent Economist and Founder of Bagrie Economics, Cameron Bagrie tells Ryan what we can expect.
Andy Burnham's been sworn in as the 7th UK Prime Minister in a decade, Financial Times Whitehall Editor, Lucy Fisher has the latest on who will be in his cabinet.
The way Iwi talk to councils about their Treaty rights is changing under new RMA law changes, Parliamentary Under-Secretary to the Minister for RMA reform, Simon Court shares his thoughts.
Plus, Australia Correspondent Donna Demaio has the latest on a former defence force soldier pleading guilty to trafficking cocaine and avoids jail and a one in 15 million pregnancy sees identical quadruplets born in Queensland.
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Speaker 1 (00:00):
The issues, the interviews and the insight. Ryan Bridge on
early edition with Spark for business technology that keeps business moving,
news talks.
Speaker 2 (00:10):
They'd be six after five.
Speaker 3 (00:11):
Bread to have you company this morning. We'll look at
inflation for June. That's coming up to the full top
of the hour. Donners in Australia for US, Andy Burnham
of course, and Simon Court on the RMA Reforms the
Agenda Tuesday, the twenty first of July. Yes, so Burnham
is in at number ten and borrowing costs are going
up every time he opens his mouth.
Speaker 4 (00:29):
I will bring forward a new plan for Britain, a
ten year plan, laying out a path from where we
are now to where I believe we all want Britain
to be, wherever we're coming from, whatever party we support.
Speaker 3 (00:46):
Ten year guilts up almost a percent after his speech
outside number ten. Rachel Reeves, by the way, Chancellor under Starmer.
She's been given the sack, offered a big job, big
job for a big girl in Burnham's cabinet, but she declined.
Speaker 5 (00:59):
And that was the thing with Rachel Reeves. Did she
want to take a smaller role. She's obviously been offered
something and she just thought now I don't want to
do that, so she's going back to the back benches.
You know, you can understand why in a way, because
being Chancellor of the Stacker was the job she always wanted.
Speaker 3 (01:16):
David Lemmy gone, Steve Reid gone, Peter Carl gone. Who's
in for the chance of the job. Well, it seems
to be a toss up at the moment between Matt
mud and between Ed millerband. I'll tell you about that
in a second. Let's go to Spain when it's celebrating in.
Speaker 1 (01:31):
Twenty twenty six the chumpions of the world.
Speaker 3 (01:36):
A stain as we're gone, told the game, we can
see nothing, So I think we play on amazing football.
We he said, for this trophy and the Argetitornian coaching tears.
Speaker 6 (01:46):
We have tried to give our best to the last minute,
the coaches, the players, and I think it's fair for
me to take some time off.
Speaker 3 (01:53):
And Trump handed out the trophy, a big trophy for
a big boy, calling it a wooden for America.
Speaker 1 (01:58):
This was one of the greatest events of any kind
over hell, so you we're really happy that it did
so well.
Speaker 3 (02:05):
And all over the world people.
Speaker 4 (02:06):
Have come and they've loved our country.
Speaker 1 (02:10):
Shame about the fighting of the headlines on early edition
with Ryan Bridge and Spuck for business Technology that keeps
business moving news talks.
Speaker 3 (02:19):
That'd be shame about the fighting, wasn't it? Did you
see that after that? While it was during and after
the game, they started fighting. Although we don't do. Some
athletes fight. And when I see athletes get angry, and
you know, the tennis players throw their rackets around, the
rugby players sort of slap each other a little bit.
I think we're asking them to go out there and
physically attack each other and put everything on the line
(02:42):
and put them under all the stress and then expect
them to act like saints and angels. I think it's
it's kind of a you're on hiding to nothing, you know.
Nine nine two is the number tw text would love
to hear from you this morning. Year so Burnham and
number ten okay, great. The yield on ten year guilt
is up zero point zero eight points to five percent
(03:02):
after his speech outside number ten, which by the way,
he did he stood there outside number ten without electurn
and I mean already there are essays like biblical length
essays about how this commun new communication style is how
cool it is because he doesn't have electurn therefore he
doesn't have notes. Therefore he is more effective at communicating.
(03:25):
So they say. Anyway, he goes out there and he says,
we need to give people breathing space with the cost
of living, and the markets go, h does that mean borrowing?
He talked also about being flexible with the fiscal rules,
and the markets go, is that more borrowing? He says,
(03:45):
we will help more young people into work by changing
the education system and giving them more support, more mental
health support, and we will build more council homes, and
the markets go, you guessed it is that more borrowing?
And it certainly does sound like that, doesn't it. Do
we have any detail yet? No, we don't. He'll do
that sometime in the next few weeks. A ten year plan.
(04:06):
He's going to give us. The only ten year number
that's being changed or the detail we have on ten
years at the moment is that the guilts yields are
going up ten after five. Bryan Bridge another shocker of
the story out of Australia. If you're an Australian taxpayer,
and let's face it, a lot of kiwis are then
a another shocking story of what they're spending their money
(04:27):
on over there. We'll get to that. Lucky it's not us.
We'll get to that in a second. But next it
is as Simon Court, they've changed or are going to
change the RMA. It's affecting EWE. He'll explain that to
us next.
Speaker 1 (04:38):
The Early Edition Full Show podcast on iHeartRadio powered by
Newstalks at b Bryan Bridge on Early Edition with Spark
for business Technology that keeps business moving NEWSTALKSB five twelve.
Speaker 3 (04:53):
Thank God, you're not a taxpayer in Australia unless you're
visiting here and you're in Australian then prepared a cringe
climate change there Chris Bowen. He's been in the job
since twenty twenty two, but he's also the COP thirty
one Chief Negotiator. Fancy job title, costing the Australians quite
a lot though, because he is the president, which means
they foot the bill for a bunch of stuff ahead
(05:15):
of COP which is a big climate change meeting. So
it's been held in obviously twenty thirty one, but there's
a pre meeting of course for all the bureaucrats. Four
point two million dollars has been spent locking in accommodation
for foreign bureaucrats at luxury five star results and Fiji.
This is Australian tax payer money comes off the back
of that eighty grand to see just sind to speak
(05:37):
that we spoke about the other day. This is just outrageous.
Department of Climate Change, Energy and the Environment and water.
You know, I would be here all day if I
had to say that more than once. Four point two
million dollars. The event is from October fifth to eighth,
and he is presiding over the conference as he is.
(05:58):
The conference of the party's co president, Sherat and Fiji
Golf and Beach resort if you've stayed their five star
waterfront getaway eighteen hole golf course features up to twelve
hundred dollars a night per room there nice and some
of the foreign delegations will pay their costs back, but
certainly not all. And they don't know how many will
(06:18):
how many won't interestingly ahead of this, so this is
a pre conference conference. Now, before they even got to
the pre conference conference, you had staff members spending twenty
four thousand dollars from the DCCEEW Because I'm not saying
the words of the Department out again, fly business class
(06:42):
to Fiji on a pre cop pre cop operational scoping
visit and bread rich. The way we talk to counsel
about their treaty rights is changing under new RMA law changes.
The government wants to bring in existing MANA Fukee agreements,
the old ones being ripped up. They'll get replaced by
(07:02):
EWE participation agreements, which recognize treaty settlements with the EWI.
They give EWE participation rights. Basically, they're voluntary things and practice.
What does this mean in a council's spatial plan. The
law says council should map areas that are significant to MALDI,
like pass sites or like burial grounds. The law requires
these to be protected and under this they would be.
(07:25):
Simon Court, as Parliamentary Under Secretary to the Minister for
RMA Reform, is with me this morning. Simon, good morning,
Good morning Ryan. Why did you have to get rid
of the old agreements.
Speaker 2 (07:36):
Well, the problem is we had provided to some existing
ones potentially to transfer over into the new system. But
what happened was a whole bunch of councils, EWI and
HAPU decided they were going to stand up a whole
lot of new agreements before the new system takes effect,
and Chris Bosha and I looked at that and said, well,
(07:56):
these are not going to fit their out of scope.
Auckland Council one, for example, says that Northland Council doesn't
or Northern Council agrees with Napoli that they never set
a sovereignty to the government. Now you can't have councils
making agreements with different EWI where they don't even agree
(08:18):
the government makes the law. So we've said that's not
coming from the RMA. We're going to put a hard
stop on that, and we're going to set up a
new system of consultation and engagement which essentially fulfills the
Crown's treaty obligations in a way that has clear guardrails,
so it can't be gained by councils and other groups
(08:41):
in the future.
Speaker 3 (08:42):
How does this the old ones? Well, I mean, what
is whether someone said in sovereignty to the crown or
not got to do with the relationship between an EWE
and a council. Wouldn't that be something that an EE
would raise were a government.
Speaker 2 (08:57):
Well, the problem is in twenty seventeen the RMA changes
agreed to between National and the Maori Party were so
wide open that just about anything could be in an
agreement that's simply supposed to be about planning matters. In
other words, as you pointed out, where are the sites
of cultural significance to Marii? Where are wah tapu or
(09:20):
burial grounds? But that's not how it went. In some
cases there was a shift from general consultation or making
sure counsels had the right knowledge to co governance and
co co management models. There were expanded roles and appointments,
and ratepayers were funding a lot of this participation in
(09:42):
a way that is unacceptable to most rate payers. What
we've seen in Northland is essentially a revolt by one councilor,
at least it's Devenus Smolders, who's an act counselor up
there in Northland, pointing out that none of this is
necessary in order to make sure that we know where
the special sites are and to give effects to the
(10:03):
Crown's obligations when it comes to treaty settlements.
Speaker 3 (10:06):
All right. Simon Court, Parliamentary under Secretary to the Minister
for RMA Reformed. Time is eighteen after five Ryan Bridge
and just up, don't you the former defense secretary John Healley.
This is Burnham over in the UK who's replaced Starmer. Well.
Starmer had John Healey as his defense secretary. Remember we
talked about that and then he resigned because he wanted
more money for defense so that they could protect themselves
(10:28):
and insulate themselves after America pulled out of Europe all
By pulled out. He has now being made the chancellor.
So Burnham has gone with the guy that quit under
Starmer as his chancellor. Eighteen after five News Talks.
Speaker 1 (10:43):
Ab the early edition Full the Show podcast on iHeartRadio
powered by News Talks at Me.
Speaker 3 (10:51):
The news you.
Speaker 1 (10:52):
Need this morning and the in depth analysis Early edition
with Ryan Bridge and Spark for Business Technology that yef's
business Moving News Talk ZEDB.
Speaker 3 (11:02):
Twenty one after five. We'll get a number four inflation
the June quarter coming out this morning. Lady, this morning,
we'll talk to Cameron Baggery in about twenty minutes time.
You're on news Talk, said b Bryan Bridge. Let's go
to the UK starmers out Andy Burnham's inn.
Speaker 4 (11:15):
I have just come from Bookingham Palace where I have
accepted his majesty the King's invitation to form a government.
It requires my generation of politicians to raise our game
and raise to the new challenge.
Speaker 3 (11:36):
Now he has just announced John Healy, who was Starmer's
defense sectory, you know, the guy that quit and then
got replaced. He has been announced as his chancellor. Joining
us live as Lucy Fisher Financial Times at Whitehall Editor, Lucy,
was that a surprise?
Speaker 7 (11:53):
Well, it was a surprise because as recently as last
week it appeared that Shabanama moved the Home Secretary was
neil to be chancellor, but that news had sparked a
backlash against her and her politics. She comes from the
right of the party, whereas John Heally combines a background
as a trade unionist with new labor credentials and therefore
(12:15):
means he's perhaps better able to straddle the political divide
in the party as Burnham seeks to unite labor and
move forward.
Speaker 3 (12:25):
What does it do because I likee that. You know,
every time Burnham out in his mouth, they yield on
tenure guilts started to rise. What do you think the
announcement of John Heally will do for the markets?
Speaker 7 (12:37):
Well, I suspect there will be fairly little movement he's
a pretty sober and serious character. He has some standing
on the world stage as a former Defense secretary. Clearly,
you know, he quit last months as from that role,
demanding that the UK government needed to move to spend
(12:57):
three percent of GDP on the sense at the moment
Britain is only on track to spend two point seven
by twenty thirty. However, I don't think anyone presumes that
heally will be precipitous in terms of wanting to look
to you know, easy money, to borrowing simply to fill
that gap. You know, he's a he's a pretty hard headed,
(13:21):
you know, is his thinking on fiscal policy. So I
think you'll be regarded as a serious choice, as a
choice that suggests the UK is serious about a major
defense spending up lift, but not not someone who's going
to take easy options to get there.
Speaker 3 (13:40):
What about Burnham's space. He talked about giving people breathing
rome with the cost of living, He talked about flexibility
with the fiscal rules. Do we actually know did he
say anything of substance?
Speaker 7 (13:51):
Well, in a in it will heard No. He made
one key new pledge to end rough sleeping that's already
got critics pointing out that he didn't manage that in Manchester,
where he made a similar pledge when he arrived as mayor.
In a briefing with political editors shortly after his speech,
(14:12):
he gave some hint that he might look at raising
the threshold for the personal allowance for income tax. It's
currently around twelve and a half thousand pounds that could
go up. You also hinted he might look at introducing
a new higher level of top rate of income tax
(14:32):
for the highest earners. So some clues there as to
how he might look to fund some of his retail policies.
Speaker 3 (14:39):
Lucy Fisher, Financial Times Whitehall Editor, appreciate your update twenty
four minutes after five. So that rough sleeping policy that
Lucy was just talking to us about. So he announced
seven hundred and eighty million New Zealand dollars over three years,
almost a billion dollars over three years for rough sleeping.
This is a guy who, as Lucy said, made the
(15:00):
the same promise, had similar goals when he was King
of the North, Greater Manchester mayor. Four years of rising
street homelessness as a result. So you can make all
the promises in the world, but clearly the numbers in
terms of homelessness don't lie. And by the way, the
seven hundred and eighty million dollars that he has just
(15:20):
announced comes on top of the eight billion dollars that
the previous government allocated for its homelessness strategy. And are
the people still living on the streets in London and
in Manchester? Yes, there are news talks thereb we'll look
at corporate welfare next five twenty seven news talks. There
be a sixty million dollar corporate welfare check for golden
(15:41):
based cement is fixing a symptom, but not the disease.
It's papering over the cracks. It's tax payer money. It's
not alone, it's free money. Owner Fletcher Building has agreed
in return to keep the thing open until twenty forty
at a minimum, and invest one hundred and fifty million
phased over time. No doubt cement is important for building
the country. But so was refined oil. We offshowed that.
(16:04):
So is milled timber, which we are letting go. So
is food production, which we're letting fall over too. This
is the problem with welfare. Once you start handing it out,
everyone wants a piece of the pie. Fletcher building is
a conglomerate listed both here and on the ASX. The
results are due out next month, which will now be
watched very closely. Last week the company increased its earnings
(16:24):
guidance and turned a forty five million dollar profit in
the half year to December. Sure, it's not without its problems.
We've kept you updated on the rig structures, the legacy issues,
the general state of construction. The only reason the government
is doing this, though, in my view, is because unlike
there are other examples of the paper mills and the
watties and what have views, this one's caused not just
(16:44):
by the price of labor and energy going north. It's
the ETS. Fletcher's buyas credits to emit carbon while making
its cement. This cost made the Northern plant unviable, dead
man walking. You can import cheap cements from offshore where
they don't pay for these emissions, which makes them a
cheaper option, and we get undercut. The government reckons they
(17:07):
want went with a bailout here rather than changing the
ETS rules because they didn't want companies lining up for handouts.
But that is exactly what will happen anyway. Any plant
at risk of closure paying for emissions is now fair game.
This might look like a small ish payment to a
(17:28):
single business, but it's actually a blank check. They've just
signed with the election around the corner, and guess what
the sky's the limit? Bryan Bridge, after five, you're on
News TALKSB nine nine two the number two text We're
like to Australia.
Speaker 1 (17:44):
Next the early edition full the show podcast on iHeartRadio,
power by News TALKSV Here at first, Ryan Bridge on
early edition with sparks for this technology that keeps business
moving News Talks B now.
Speaker 4 (18:07):
Sign my.
Speaker 3 (18:12):
Pretty far away from six yer on News Talks, they'd
be coming up before top of the other. Look at
inflation should be somewhere between three point nine and four
point two percent. You'll hear about that on News Talks.
Here'd be this morning. Later on. Also we will go
to Australia with Donald Tomao. The Houthis and Yemen, they're
sort of getting their backs up again. Their heckels are up.
They have announced a maritime blockade on Saudi Arabia. Now
(18:33):
this is interesting because the Saudis obviously used the straight
of horn moves and the straight of hor movees is
a bit of a cluster at the moment. So this
sort of root b is the bub Al Mandab straight
you've probably heard of people talk about that before. This
is the Red Sea and of course the houthis Yemen
borders it. And so what they're planning to do is
start the attacks and the Red Sea again. And they
(18:56):
have announced this blockade of Saudi Arabia. How effective it
will be this obviously is important because it's a flow
of oil around the world and not just one but
now two straits. But the question is how effective they
can be and how much they're backed by Iran. Sure,
but Iran's got its own problems at the moment. Do
they have the capability, do they have the military, you know,
their missiles, do they have the speedboats, do they have
(19:17):
the manpower? Those are the questions we don't quite know yet.
Twenty three away from six Ray and Bridge, let's got
to come them into need and Collum, Good morning morning, Ryan.
So Greenhouse gas targets and the council is having a
bit of a one eight on this look they are,
Ryan here.
Speaker 8 (19:37):
They going back to the drawing board to look at
their targets and possibly revise them, and they'll do that
today in a meeting, they'll decide whether to keep the
existing target from seven years ago or replace it with
a new framework based on current evidence.
Speaker 3 (19:50):
This follows advice.
Speaker 8 (19:52):
That they received last year that the Council's twenty thirty
net zero goal cannot be met, But the report says
to need and is still making progress on cutting emissions,
with levels falling thirteen percent over the past seven years.
Daneed and also on track to meet at separate methane
reduction target emissions. They're already reducing faster than required for
twenty thirty. Any agreed changes to those targets, Ryan will
(20:15):
be presented later this year.
Speaker 3 (20:18):
How's your weather.
Speaker 8 (20:19):
Frosty starts, but a mostly fine day today fourteen the
height all right clear than.
Speaker 3 (20:24):
Christ this morning. Claire, good morning. You got a jobs
report with mixed signals.
Speaker 9 (20:28):
Yeah, this is interesting.
Speaker 10 (20:29):
Employment Hero's latest jobs report shows that small and medium
businesses here in Canterbury are indeed continuing to grow their
head counts, but interestingly, the annual wage growth is falling
zero seven point three percent rather in a year. Managing
Director of Asia Pacific James Keane says this is really
interesting given Canterbury's reputation as being the resilient region with
(20:50):
plenty of positive economic signs. He says they expect the
numbers to actually pick up eventually, but businesses at the
moment are being very cautious. Keane says businesses do need
to have confidence in the market ahead and eventually look
at passing that growth on so that it's reflected in employees' wages.
Speaker 3 (21:06):
How'd you wear the clear?
Speaker 10 (21:08):
Another frost start should clear to find Northerly's dying down
and a high thirteen.
Speaker 3 (21:12):
Thank you to beas and Wellington to bes Good morning
to you. You've got court ordered receivership for eight Wellington companies, Yeah.
Speaker 6 (21:19):
Sure do Ryan. These are controlled by so called Wellington
mega landlord Matthew Ryan. So Business Desk reports that more
than seventy properties are owned by these companies, which all
appear to relate to property investment and development. So the
receivership follows a property dispute between Ryan and his former
partner Bdo Wellington. Receivers will take control of the company's
(21:41):
their assets and their income streams until the court receives
further updates. The business collapses come as Ryan faces charges
relating to allegedly making and distributing intimate visual recordings. He
also appeared in court last year on charges including firearm
possession and strangulation.
Speaker 3 (21:58):
Goodness me, how's your weather?
Speaker 6 (22:00):
Some morning frost around in Wellington today? Just some light
in northern least developing this morning and twelve degrees our height.
Speaker 3 (22:06):
Nice one, thank you. And guess HER's back in the
studio this morning. That beautiful, beautiful voice you've all missed,
piercing laugh. Yeah, how are you, neighbor. I'm good, mosterie.
Good to have you back.
Speaker 9 (22:20):
I tell you I had such a great week off.
It was a staycation. I just stayed in Auckland, but
just a jobs like cleaning the wardrobe, getting rid of
clothes that I don't wear in shoes and having a
lot of sleep. So now I'm full of energy. Good
it will be gone by nine seven. You look great, Oh,
thank you. You look like you've sort of reversed two years.
So do you though, I feel like your age.
Speaker 3 (22:41):
Now, let's not push things. Tell us about the central interceptor.
The tunnel. It's done, it's.
Speaker 9 (22:47):
Done, complete it on time. So Wayne Brown says that
the cities this is the spanking central interceptor. It's going
to improve waterways for generations to come. That's his words.
So this is the wastewater tunnel. It runs from among
it Air to Herne Bay's Point Aerin. It's gone live now.
This is underground through the supercity. It's about sixteen kilometers.
(23:10):
And what this does it prevents wastewater overflowing and it
also helps with flooding. So very very important for our waterways.
And it's really good to celebrate that it's actually done
and done on time.
Speaker 3 (23:20):
Yeah, and on budget. One point seven million dollars seems
so cheap, now, doesn't it.
Speaker 9 (23:24):
Yes, that's right, best say we compared.
Speaker 3 (23:26):
To anything else, literally, anything else a footpath, You are
quite right. How's that? Weather?
Speaker 9 (23:32):
Showers possibly heavy autofunger Pioa easing before dawn. It's going
to be cloudy today. Fourteen is high here and.
Speaker 3 (23:37):
Aum you take care of yourself neither. It is eighteen
minutes away from six. That pipe by the way, they reckon.
So if you go swimming in Auckland in summer and
you notice that there's like tampons following you around the
ocean or floaters in the water, this will take out
eighty percent of that. That's the estimate. Eighty percent of
what was going and won't go in when it rains
and the wastewater and the storm water come together, and
(24:00):
you know in the central city they've got down at
the Violet, they've got Brownie's Pool. Well, I think we
should call this one Brownie's Pipe. Australia next said.
Speaker 1 (24:08):
Big international correspondence with ends and eye insurance, peace of
mind for New Zealand business.
Speaker 3 (24:15):
He talks to me as quarter to six, Lammy is out,
Rachel Reeves's out. This is Andy Burnham coming into number
ten Downing Street. He's already announced that Healley, who was
Starmer's Defense secretary who then quit over how much they
were spending on defense. He is now Burnham's chancellor. Considered
a safe pair of hands, been around the traps for
a while. Ed Milliban was one of those touted as
(24:37):
being a chancellor. He's just been announced the Foreign Secretary.
And Muttwood this is the other potential contender they were
talking about to be chancellor. She's just been announced as
the Home Secretary, so basically keeping her job. It is
quarter to six now and we will go to Australia.
Do on a demands with us on a good morning
HI form Defense Force soldier has pleaded guilty to trafficking
(25:01):
cocaine but doesn't go to jail.
Speaker 11 (25:04):
Yes, he has been spared jo This twenty four year
old appeared in court yesterday and pleaded guilty to trafficking
cocaine in twenty twenty four. He was a rifleman and
field medic and the court heard that during his service
he did purchase forty five grams of cocaine over six
weeks from a fellow soldier. That fellow soldier pleaded guilty
earlier this year to trafficking large quantities of a cocaine
(25:25):
while serving as an Army infantry soldier. So the Supreme
Court that heard that this soldier had paid in cash
and at times you know, popped the payments into the
army backpack of his fellow soldier. And we heard from
the judge of course, so you offended whilst you had
the honor and the privilege of being a member of
(25:45):
the Australian Defense Force. And questioned this same judge questioned
why this soldier had said he was slowly getting more
blokes onto the staff. He did plead guilty to two
charges but has avoided jail. He got a four year
prison term, but it's going to be suspended for five
years as long as he does not reoffend.
Speaker 3 (26:06):
All right, now, let's get to the most important story
of the day that this mums how many babies has
she had?
Speaker 11 (26:13):
A Brisbane woman has naturally conceived identical quadruplets and they've
all been born and they're all healthy, they're all daughters.
Congratulations to thirty four year old Jennifer Namuana and her
partner Jorthan. They had these four babies delivered by caesarean
at twenty weeks and four days and look they're still
in the neonatal intensive care in it being cared for.
(26:35):
But it's extraordinary. Doctors are saying that pregnancy was so
high risk. In fact, it was very very high risk.
As they put it, it's incredible that they're healthy and
it's a one in far Wait a minute, negat this
is right, one in fifteen million pregnancy. It's just extraordinary.
They have set up a go fund me for the
(26:56):
family because apparently they really really need a ten to
twelve a van.
Speaker 3 (27:00):
Now did they know this that they had quadruplets coming?
Speaker 4 (27:05):
Oh?
Speaker 11 (27:05):
Yes, they yes, they did, ye they did?
Speaker 3 (27:08):
Goodness me, what a story. Hey, good to have you
on this morning don to tomorrow Australia corresponders. So that
one in fifteen million pregnancies are identical, so they're all
going to look the same too. The four babies. It
is twelve minutes away from six.
Speaker 1 (27:20):
Ryan.
Speaker 3 (27:20):
Now, one thing you will be watching very closely if
you have four newborn babies is inflation. And goodness on
this side of the Tasman we're up again. We're getting
a number out this morning. Most economists have it coming
in at four percent. I think the RBNZ was same
three point nine. Cameron Bagriy, independent economists and founder of
Baggery Economics, with us this morning. Cameron, good morning.
Speaker 12 (27:39):
Oh, good morning.
Speaker 3 (27:40):
So what what are you expecting.
Speaker 12 (27:44):
Here? By number looks off, it's going to be something
around four Look whether it's three point nine to four
point one is pretty immateial I'm the key here is
going to be core inflation. Core inflation sort of SCRIPTU
out food and energy and conflation has been stubbornly sticky
around two point five percent of the Reserve Bank would
like that number a little lower to two percent, which
is the biddle part of the inflation band. Again, one
(28:06):
if we see core inflation pick up in regard to
where interstrates a lot there we go.
Speaker 3 (28:10):
Do you think core inflation is going to pick up?
I mean, we've seen the energy costs go up, and
this was this is the full picture of the war, right,
the last one we got only captured about a month
of it.
Speaker 12 (28:21):
Yeah, I think core inflation is going to continue to
be simmering around that two and a half percent mark,
and that's going to place the Reserve Bank in an
awkward position. And part of the problem got wrong is
that we sall have gotten pop inflation, but we really
didn't get fully on top of inflation inflation. He had
gone inflation that belows it got back around two point
(28:42):
two percent. Normally, when you go through a recession, you
see inflation dropped well below two percent. It didn't drop
below two percent. Your core inflation was still on the
upper part of the one to three percent inflation band.
So when you see an inflation shot coming through the system,
which is what's coming through the system at the moment,
you're going to be a little bit more on alert.
You're going to be a little bit more cautious. And
(29:03):
of course the Reserve Bank has got interstrates. You have
the official cash right is still what's called the funds
are and the fund zone is sort of when you've
got the official cash right for low three percent, idea
that you have that OCR not in the fund zone
by around three percent, what's we call neutral. As we're
the reserve bank. No, ei've got the foot in accelerator
or the break.
Speaker 3 (29:22):
Which is where they'll get by Christmas. Right, Well, that's
what the markets are telling us they'll do. Would today's number,
I mean, how bad would today's number have to be
for them to put the really foot to put the
foot down on it.
Speaker 12 (29:33):
Well, we'll really put the foot down. Look like I
think they're going to go respective. I just think if
you're a central bank and you've got inflation that's been
in the apple part of your zone or that out
of your zone for about five years, you want to
get that OICR back to three percent. And what we've
got at the moment is that it's pretty clear that
we've got a cross shop. But an improved economy, and
(29:55):
the economy on the improve is a good thing. When
you've got the economy on the approved the GDP numbers
for the dunk quarter, they're not going to look that great.
But if you look at the economic imitators outside of
the Dune Court, it's very clear that things are picking
up outside of the housing market. So there's no need
to be special care st rate to be around two
point five percent. Okay, if you own a property, you've
(30:16):
like the official care strate to remain pretty low. But yeah,
people need to wake up the reality that we don't
get more wealthy seven more expensive houses to each other,
and so that party is sort of over and there's
there being you know, think they're going to be pretty cautious,
like most simple banks around the globe, because we've just
had inflation too high to too long, and inflation is
just a tax on society.
Speaker 3 (30:37):
Cameron Bagri, Independent Economists, founder of Bagri Economics. That number
out this morning. It is nine minutes away from six
Bryant Bridge, so everybody, the cabinet ministers are walking, well
would be cabinet ministers are walking into number ten Downing Street,
being told what jobs they have been given, shaking hands
with Burnham and then walking out. And at the same
time Burnham has been on the phone to Trump. This
(30:58):
is according to the American investador in the UK telling Fox.
So Trump and Burnham have spoken and every time Burnham
speaks well, at least when he was outside number ten,
cost of borrowing for the UK went up. Since then
he's announced Healy as his chancellor. It's eight to six
y're on newstalk sad B.
Speaker 1 (31:17):
The first word on the News of the Day early
edition with Ryan Bridge and Spark for Business Technology that
keeps Business Moving News Talks d B.
Speaker 3 (31:27):
He talks about six minutes away from six. So al
Mayo who was mates with Al Chapo. This is the
Mexican drug lord. He was a Sinela cartel in Mexico.
He has just been done a lifetime sentence. He actually
admitted to it that he did a deal with prosecutors
last year for shipping cocaine and other substances, etc. And
he also forfeited twenty five billion dollars in profits. I mean,
(31:51):
this is why you would Is this an ad against
four or against being a Mexican drug kingpin? You know, yes,
you're going to isn't for the rest of your life.
But he gave up twenty five billion dollars in profits
as part of his punishment at the age of seventy six.
At six two Bread Rich Morning make morning. Is this
corporate welfare for a Golden based It's a.
Speaker 13 (32:15):
Very very good question, and I don't have the answer
because I don't. No one knows what the detail of
it was, because you've got to have the writers of
business to go, this isn't working for us, so we
can close it down.
Speaker 3 (32:27):
Which is what they said was going to happen. Well,
that's what.
Speaker 13 (32:29):
They say, but Fletcher Building's got form. Yeah, so then
you go is that true? And if it isn't true,
you then go back to the original, which is there's
only one cement producer in this country. So therefore, from
a governmental point of view, having just cleaned out a
tank in Marsden Point, you're into a little bit of
you know, reliability and resilience, aren't you.
Speaker 3 (32:48):
But then you know, where is the where did you stop?
Speaker 12 (32:50):
Do you?
Speaker 3 (32:50):
Food? Couldn't agree more? Couldn't agree more?
Speaker 13 (32:53):
But then exactly what you said a precedent. What hasn't
been explained is this this this fron mental thing that
we're bringing on about yesterday, the ets and how that
sort of suddenly cement becomes a problem and the rest
of it we bring into the country isn't a problem
et cetera.
Speaker 3 (33:09):
If somebody is importing imported cement doesn't have the ETS
cost slapped on it, so therefore barrow to disadvance.
Speaker 13 (33:15):
So so once again you can then go back to
the Fletcher question.
Speaker 3 (33:18):
Is that is that the stalking horse, that's not the
root cause. The ETS cost is the root cause of.
Speaker 13 (33:27):
Is your business really going under? Or if you found
just an ETS excuse to go to the government and
go and tell you what. That's too big a hassle
for us, and then so give us sixty million bucks.
Speaker 3 (33:36):
And here's the problem. And Paul's texting in about this
this morning as a taxpayer coming into an election. Any
business that has an ETS cost now and it's facing
plant closure, hand up please.
Speaker 13 (33:47):
It's the most interesting story of the week by quite
a large I could and everyone seems to have missed it.
But anyway, we will be dealing with it Ryan this morning,
big time, don't you worry. Also, by the way, Ryan
Fox is literally just landing in Florida, back home where
he lives, and so he's going to jump on the phone.
So we missed him yesterday. So I'm going to get
the full glory in the detail from them later on.
Speaker 3 (34:09):
Good Stuff. The Mike hosting Breakfast Next on News Talk
said B see you tomorrow.
Speaker 5 (34:17):
Up God.
Speaker 1 (34:22):
For more from Early Edition with Ryan Bridge, Listen live
to News Talk Set B from five am weekdays, or
follow the podcast on iHeartRadio
The issues, the interviews and the insight. Ryan Bridge on
early edition with Spark for business technology that keeps business moving,
news talks.
Speaker 2 (00:10):
They'd be six after five.
Speaker 3 (00:11):
Bread to have you company this morning. We'll look at
inflation for June. That's coming up to the full top
of the hour. Donners in Australia for US, Andy Burnham
of course, and Simon Court on the RMA Reforms the
Agenda Tuesday, the twenty first of July. Yes, so Burnham
is in at number ten and borrowing costs are going
up every time he opens his mouth.
Speaker 4 (00:29):
I will bring forward a new plan for Britain, a
ten year plan, laying out a path from where we
are now to where I believe we all want Britain
to be, wherever we're coming from, whatever party we support.
Speaker 3 (00:46):
Ten year guilts up almost a percent after his speech
outside number ten. Rachel Reeves, by the way, Chancellor under Starmer.
She's been given the sack, offered a big job, big
job for a big girl in Burnham's cabinet, but she declined.
Speaker 5 (00:59):
And that was the thing with Rachel Reeves. Did she
want to take a smaller role. She's obviously been offered
something and she just thought now I don't want to
do that, so she's going back to the back benches.
You know, you can understand why in a way, because
being Chancellor of the Stacker was the job she always wanted.
Speaker 3 (01:16):
David Lemmy gone, Steve Reid gone, Peter Carl gone. Who's
in for the chance of the job. Well, it seems
to be a toss up at the moment between Matt
mud and between Ed millerband. I'll tell you about that
in a second. Let's go to Spain when it's celebrating in.
Speaker 1 (01:31):
Twenty twenty six the chumpions of the world.
Speaker 3 (01:36):
A stain as we're gone, told the game, we can
see nothing, So I think we play on amazing football.
We he said, for this trophy and the Argetitornian coaching tears.
Speaker 6 (01:46):
We have tried to give our best to the last minute,
the coaches, the players, and I think it's fair for
me to take some time off.
Speaker 3 (01:53):
And Trump handed out the trophy, a big trophy for
a big boy, calling it a wooden for America.
Speaker 1 (01:58):
This was one of the greatest events of any kind
over hell, so you we're really happy that it did
so well.
Speaker 3 (02:05):
And all over the world people.
Speaker 4 (02:06):
Have come and they've loved our country.
Speaker 1 (02:10):
Shame about the fighting of the headlines on early edition
with Ryan Bridge and Spuck for business Technology that keeps
business moving news talks.
Speaker 3 (02:19):
That'd be shame about the fighting, wasn't it? Did you
see that after that? While it was during and after
the game, they started fighting. Although we don't do. Some
athletes fight. And when I see athletes get angry, and
you know, the tennis players throw their rackets around, the
rugby players sort of slap each other a little bit.
I think we're asking them to go out there and
physically attack each other and put everything on the line
(02:42):
and put them under all the stress and then expect
them to act like saints and angels. I think it's
it's kind of a you're on hiding to nothing, you know.
Nine nine two is the number tw text would love
to hear from you this morning. Year so Burnham and
number ten okay, great. The yield on ten year guilt
is up zero point zero eight points to five percent
(03:02):
after his speech outside number ten, which by the way,
he did he stood there outside number ten without electurn
and I mean already there are essays like biblical length
essays about how this commun new communication style is how
cool it is because he doesn't have electurn therefore he
doesn't have notes. Therefore he is more effective at communicating.
(03:25):
So they say. Anyway, he goes out there and he says,
we need to give people breathing space with the cost
of living, and the markets go, h does that mean borrowing?
He talked also about being flexible with the fiscal rules,
and the markets go, is that more borrowing? He says,
(03:45):
we will help more young people into work by changing
the education system and giving them more support, more mental
health support, and we will build more council homes, and
the markets go, you guessed it is that more borrowing?
And it certainly does sound like that, doesn't it. Do
we have any detail yet? No, we don't. He'll do
that sometime in the next few weeks. A ten year plan.
(04:06):
He's going to give us. The only ten year number
that's being changed or the detail we have on ten
years at the moment is that the guilts yields are
going up ten after five. Bryan Bridge another shocker of
the story out of Australia. If you're an Australian taxpayer,
and let's face it, a lot of kiwis are then
a another shocking story of what they're spending their money
(04:27):
on over there. We'll get to that. Lucky it's not us.
We'll get to that in a second. But next it
is as Simon Court, they've changed or are going to
change the RMA. It's affecting EWE. He'll explain that to
us next.
Speaker 1 (04:38):
The Early Edition Full Show podcast on iHeartRadio powered by
Newstalks at b Bryan Bridge on Early Edition with Spark
for business Technology that keeps business moving NEWSTALKSB five twelve.
Speaker 3 (04:53):
Thank God, you're not a taxpayer in Australia unless you're
visiting here and you're in Australian then prepared a cringe
climate change there Chris Bowen. He's been in the job
since twenty twenty two, but he's also the COP thirty
one Chief Negotiator. Fancy job title, costing the Australians quite
a lot though, because he is the president, which means
they foot the bill for a bunch of stuff ahead
(05:15):
of COP which is a big climate change meeting. So
it's been held in obviously twenty thirty one, but there's
a pre meeting of course for all the bureaucrats. Four
point two million dollars has been spent locking in accommodation
for foreign bureaucrats at luxury five star results and Fiji.
This is Australian tax payer money comes off the back
of that eighty grand to see just sind to speak
(05:37):
that we spoke about the other day. This is just outrageous.
Department of Climate Change, Energy and the Environment and water.
You know, I would be here all day if I
had to say that more than once. Four point two
million dollars. The event is from October fifth to eighth,
and he is presiding over the conference as he is.
(05:58):
The conference of the party's co president, Sherat and Fiji
Golf and Beach resort if you've stayed their five star
waterfront getaway eighteen hole golf course features up to twelve
hundred dollars a night per room there nice and some
of the foreign delegations will pay their costs back, but
certainly not all. And they don't know how many will
(06:18):
how many won't interestingly ahead of this, so this is
a pre conference conference. Now, before they even got to
the pre conference conference, you had staff members spending twenty
four thousand dollars from the DCCEEW Because I'm not saying
the words of the Department out again, fly business class
(06:42):
to Fiji on a pre cop pre cop operational scoping
visit and bread rich. The way we talk to counsel
about their treaty rights is changing under new RMA law changes.
The government wants to bring in existing MANA Fukee agreements,
the old ones being ripped up. They'll get replaced by
(07:02):
EWE participation agreements, which recognize treaty settlements with the EWI.
They give EWE participation rights. Basically, they're voluntary things and practice.
What does this mean in a council's spatial plan. The
law says council should map areas that are significant to MALDI,
like pass sites or like burial grounds. The law requires
these to be protected and under this they would be.
(07:25):
Simon Court, as Parliamentary Under Secretary to the Minister for
RMA Reform, is with me this morning. Simon, good morning,
Good morning Ryan. Why did you have to get rid
of the old agreements.
Speaker 2 (07:36):
Well, the problem is we had provided to some existing
ones potentially to transfer over into the new system. But
what happened was a whole bunch of councils, EWI and
HAPU decided they were going to stand up a whole
lot of new agreements before the new system takes effect,
and Chris Bosha and I looked at that and said, well,
(07:56):
these are not going to fit their out of scope.
Auckland Council one, for example, says that Northland Council doesn't
or Northern Council agrees with Napoli that they never set
a sovereignty to the government. Now you can't have councils
making agreements with different EWI where they don't even agree
(08:18):
the government makes the law. So we've said that's not
coming from the RMA. We're going to put a hard
stop on that, and we're going to set up a
new system of consultation and engagement which essentially fulfills the
Crown's treaty obligations in a way that has clear guardrails,
so it can't be gained by councils and other groups
(08:41):
in the future.
Speaker 3 (08:42):
How does this the old ones? Well, I mean, what
is whether someone said in sovereignty to the crown or
not got to do with the relationship between an EWE
and a council. Wouldn't that be something that an EE
would raise were a government.
Speaker 2 (08:57):
Well, the problem is in twenty seventeen the RMA changes
agreed to between National and the Maori Party were so
wide open that just about anything could be in an
agreement that's simply supposed to be about planning matters. In
other words, as you pointed out, where are the sites
of cultural significance to Marii? Where are wah tapu or
(09:20):
burial grounds? But that's not how it went. In some
cases there was a shift from general consultation or making
sure counsels had the right knowledge to co governance and
co co management models. There were expanded roles and appointments,
and ratepayers were funding a lot of this participation in
(09:42):
a way that is unacceptable to most rate payers. What
we've seen in Northland is essentially a revolt by one councilor,
at least it's Devenus Smolders, who's an act counselor up
there in Northland, pointing out that none of this is
necessary in order to make sure that we know where
the special sites are and to give effects to the
(10:03):
Crown's obligations when it comes to treaty settlements.
Speaker 3 (10:06):
All right. Simon Court, Parliamentary under Secretary to the Minister
for RMA Reformed. Time is eighteen after five Ryan Bridge
and just up, don't you the former defense secretary John Healley.
This is Burnham over in the UK who's replaced Starmer. Well.
Starmer had John Healey as his defense secretary. Remember we
talked about that and then he resigned because he wanted
more money for defense so that they could protect themselves
(10:28):
and insulate themselves after America pulled out of Europe all
By pulled out. He has now being made the chancellor.
So Burnham has gone with the guy that quit under
Starmer as his chancellor. Eighteen after five News Talks.
Speaker 1 (10:43):
Ab the early edition Full the Show podcast on iHeartRadio
powered by News Talks at Me.
Speaker 3 (10:51):
The news you.
Speaker 1 (10:52):
Need this morning and the in depth analysis Early edition
with Ryan Bridge and Spark for Business Technology that yef's
business Moving News Talk ZEDB.
Speaker 3 (11:02):
Twenty one after five. We'll get a number four inflation
the June quarter coming out this morning. Lady, this morning,
we'll talk to Cameron Baggery in about twenty minutes time.
You're on news Talk, said b Bryan Bridge. Let's go
to the UK starmers out Andy Burnham's inn.
Speaker 4 (11:15):
I have just come from Bookingham Palace where I have
accepted his majesty the King's invitation to form a government.
It requires my generation of politicians to raise our game
and raise to the new challenge.
Speaker 3 (11:36):
Now he has just announced John Healy, who was Starmer's
defense sectory, you know, the guy that quit and then
got replaced. He has been announced as his chancellor. Joining
us live as Lucy Fisher Financial Times at Whitehall Editor, Lucy,
was that a surprise?
Speaker 7 (11:53):
Well, it was a surprise because as recently as last
week it appeared that Shabanama moved the Home Secretary was
neil to be chancellor, but that news had sparked a
backlash against her and her politics. She comes from the
right of the party, whereas John Heally combines a background
as a trade unionist with new labor credentials and therefore
(12:15):
means he's perhaps better able to straddle the political divide
in the party as Burnham seeks to unite labor and
move forward.
Speaker 3 (12:25):
What does it do because I likee that. You know,
every time Burnham out in his mouth, they yield on
tenure guilts started to rise. What do you think the
announcement of John Heally will do for the markets?
Speaker 7 (12:37):
Well, I suspect there will be fairly little movement he's
a pretty sober and serious character. He has some standing
on the world stage as a former Defense secretary. Clearly,
you know, he quit last months as from that role,
demanding that the UK government needed to move to spend
(12:57):
three percent of GDP on the sense at the moment
Britain is only on track to spend two point seven
by twenty thirty. However, I don't think anyone presumes that
heally will be precipitous in terms of wanting to look
to you know, easy money, to borrowing simply to fill
that gap. You know, he's a he's a pretty hard headed,
(13:21):
you know, is his thinking on fiscal policy. So I
think you'll be regarded as a serious choice, as a
choice that suggests the UK is serious about a major
defense spending up lift, but not not someone who's going
to take easy options to get there.
Speaker 3 (13:40):
What about Burnham's space. He talked about giving people breathing
rome with the cost of living, He talked about flexibility
with the fiscal rules. Do we actually know did he
say anything of substance?
Speaker 7 (13:51):
Well, in a in it will heard No. He made
one key new pledge to end rough sleeping that's already
got critics pointing out that he didn't manage that in Manchester,
where he made a similar pledge when he arrived as mayor.
In a briefing with political editors shortly after his speech,
(14:12):
he gave some hint that he might look at raising
the threshold for the personal allowance for income tax. It's
currently around twelve and a half thousand pounds that could
go up. You also hinted he might look at introducing
a new higher level of top rate of income tax
(14:32):
for the highest earners. So some clues there as to
how he might look to fund some of his retail policies.
Speaker 3 (14:39):
Lucy Fisher, Financial Times Whitehall Editor, appreciate your update twenty
four minutes after five. So that rough sleeping policy that
Lucy was just talking to us about. So he announced
seven hundred and eighty million New Zealand dollars over three years,
almost a billion dollars over three years for rough sleeping.
This is a guy who, as Lucy said, made the
(15:00):
the same promise, had similar goals when he was King
of the North, Greater Manchester mayor. Four years of rising
street homelessness as a result. So you can make all
the promises in the world, but clearly the numbers in
terms of homelessness don't lie. And by the way, the
seven hundred and eighty million dollars that he has just
(15:20):
announced comes on top of the eight billion dollars that
the previous government allocated for its homelessness strategy. And are
the people still living on the streets in London and
in Manchester? Yes, there are news talks thereb we'll look
at corporate welfare next five twenty seven news talks. There
be a sixty million dollar corporate welfare check for golden
(15:41):
based cement is fixing a symptom, but not the disease.
It's papering over the cracks. It's tax payer money. It's
not alone, it's free money. Owner Fletcher Building has agreed
in return to keep the thing open until twenty forty
at a minimum, and invest one hundred and fifty million
phased over time. No doubt cement is important for building
the country. But so was refined oil. We offshowed that.
(16:04):
So is milled timber, which we are letting go. So
is food production, which we're letting fall over too. This
is the problem with welfare. Once you start handing it out,
everyone wants a piece of the pie. Fletcher building is
a conglomerate listed both here and on the ASX. The
results are due out next month, which will now be
watched very closely. Last week the company increased its earnings
(16:24):
guidance and turned a forty five million dollar profit in
the half year to December. Sure, it's not without its problems.
We've kept you updated on the rig structures, the legacy issues,
the general state of construction. The only reason the government
is doing this, though, in my view, is because unlike
there are other examples of the paper mills and the
watties and what have views, this one's caused not just
(16:44):
by the price of labor and energy going north. It's
the ETS. Fletcher's buyas credits to emit carbon while making
its cement. This cost made the Northern plant unviable, dead
man walking. You can import cheap cements from offshore where
they don't pay for these emissions, which makes them a
cheaper option, and we get undercut. The government reckons they
(17:07):
want went with a bailout here rather than changing the
ETS rules because they didn't want companies lining up for handouts.
But that is exactly what will happen anyway. Any plant
at risk of closure paying for emissions is now fair game.
This might look like a small ish payment to a
(17:28):
single business, but it's actually a blank check. They've just
signed with the election around the corner, and guess what
the sky's the limit? Bryan Bridge, after five, you're on
News TALKSB nine nine two the number two text We're
like to Australia.
Speaker 1 (17:44):
Next the early edition full the show podcast on iHeartRadio,
power by News TALKSV Here at first, Ryan Bridge on
early edition with sparks for this technology that keeps business
moving News Talks B now.
Speaker 4 (18:07):
Sign my.
Speaker 3 (18:12):
Pretty far away from six yer on News Talks, they'd
be coming up before top of the other. Look at
inflation should be somewhere between three point nine and four
point two percent. You'll hear about that on News Talks.
Here'd be this morning. Later on. Also we will go
to Australia with Donald Tomao. The Houthis and Yemen, they're
sort of getting their backs up again. Their heckels are up.
They have announced a maritime blockade on Saudi Arabia. Now
(18:33):
this is interesting because the Saudis obviously used the straight
of horn moves and the straight of hor movees is
a bit of a cluster at the moment. So this
sort of root b is the bub Al Mandab straight
you've probably heard of people talk about that before. This
is the Red Sea and of course the houthis Yemen
borders it. And so what they're planning to do is
start the attacks and the Red Sea again. And they
(18:56):
have announced this blockade of Saudi Arabia. How effective it
will be this obviously is important because it's a flow
of oil around the world and not just one but
now two straits. But the question is how effective they
can be and how much they're backed by Iran. Sure,
but Iran's got its own problems at the moment. Do
they have the capability, do they have the military, you know,
their missiles, do they have the speedboats, do they have
(19:17):
the manpower? Those are the questions we don't quite know yet.
Twenty three away from six Ray and Bridge, let's got
to come them into need and Collum, Good morning morning, Ryan.
So Greenhouse gas targets and the council is having a
bit of a one eight on this look they are,
Ryan here.
Speaker 8 (19:37):
They going back to the drawing board to look at
their targets and possibly revise them, and they'll do that
today in a meeting, they'll decide whether to keep the
existing target from seven years ago or replace it with
a new framework based on current evidence.
Speaker 3 (19:50):
This follows advice.
Speaker 8 (19:52):
That they received last year that the Council's twenty thirty
net zero goal cannot be met, But the report says
to need and is still making progress on cutting emissions,
with levels falling thirteen percent over the past seven years.
Daneed and also on track to meet at separate methane
reduction target emissions. They're already reducing faster than required for
twenty thirty. Any agreed changes to those targets, Ryan will
(20:15):
be presented later this year.
Speaker 3 (20:18):
How's your weather.
Speaker 8 (20:19):
Frosty starts, but a mostly fine day today fourteen the
height all right clear than.
Speaker 3 (20:24):
Christ this morning. Claire, good morning. You got a jobs
report with mixed signals.
Speaker 9 (20:28):
Yeah, this is interesting.
Speaker 10 (20:29):
Employment Hero's latest jobs report shows that small and medium
businesses here in Canterbury are indeed continuing to grow their
head counts, but interestingly, the annual wage growth is falling
zero seven point three percent rather in a year. Managing
Director of Asia Pacific James Keane says this is really
interesting given Canterbury's reputation as being the resilient region with
(20:50):
plenty of positive economic signs. He says they expect the
numbers to actually pick up eventually, but businesses at the
moment are being very cautious. Keane says businesses do need
to have confidence in the market ahead and eventually look
at passing that growth on so that it's reflected in employees' wages.
Speaker 3 (21:06):
How'd you wear the clear?
Speaker 10 (21:08):
Another frost start should clear to find Northerly's dying down
and a high thirteen.
Speaker 3 (21:12):
Thank you to beas and Wellington to bes Good morning
to you. You've got court ordered receivership for eight Wellington companies, Yeah.
Speaker 6 (21:19):
Sure do Ryan. These are controlled by so called Wellington
mega landlord Matthew Ryan. So Business Desk reports that more
than seventy properties are owned by these companies, which all
appear to relate to property investment and development. So the
receivership follows a property dispute between Ryan and his former
partner Bdo Wellington. Receivers will take control of the company's
(21:41):
their assets and their income streams until the court receives
further updates. The business collapses come as Ryan faces charges
relating to allegedly making and distributing intimate visual recordings. He
also appeared in court last year on charges including firearm
possession and strangulation.
Speaker 3 (21:58):
Goodness me, how's your weather?
Speaker 6 (22:00):
Some morning frost around in Wellington today? Just some light
in northern least developing this morning and twelve degrees our height.
Speaker 3 (22:06):
Nice one, thank you. And guess HER's back in the
studio this morning. That beautiful, beautiful voice you've all missed,
piercing laugh. Yeah, how are you, neighbor. I'm good, mosterie.
Good to have you back.
Speaker 9 (22:20):
I tell you I had such a great week off.
It was a staycation. I just stayed in Auckland, but
just a jobs like cleaning the wardrobe, getting rid of
clothes that I don't wear in shoes and having a
lot of sleep. So now I'm full of energy. Good
it will be gone by nine seven. You look great, Oh,
thank you. You look like you've sort of reversed two years.
So do you though, I feel like your age.
Speaker 3 (22:41):
Now, let's not push things. Tell us about the central interceptor.
The tunnel. It's done, it's.
Speaker 9 (22:47):
Done, complete it on time. So Wayne Brown says that
the cities this is the spanking central interceptor. It's going
to improve waterways for generations to come. That's his words.
So this is the wastewater tunnel. It runs from among
it Air to Herne Bay's Point Aerin. It's gone live now.
This is underground through the supercity. It's about sixteen kilometers.
(23:10):
And what this does it prevents wastewater overflowing and it
also helps with flooding. So very very important for our waterways.
And it's really good to celebrate that it's actually done
and done on time.
Speaker 3 (23:20):
Yeah, and on budget. One point seven million dollars seems
so cheap, now, doesn't it.
Speaker 9 (23:24):
Yes, that's right, best say we compared.
Speaker 3 (23:26):
To anything else, literally, anything else a footpath, You are
quite right. How's that? Weather?
Speaker 9 (23:32):
Showers possibly heavy autofunger Pioa easing before dawn. It's going
to be cloudy today. Fourteen is high here and.
Speaker 3 (23:37):
Aum you take care of yourself neither. It is eighteen
minutes away from six. That pipe by the way, they reckon.
So if you go swimming in Auckland in summer and
you notice that there's like tampons following you around the
ocean or floaters in the water, this will take out
eighty percent of that. That's the estimate. Eighty percent of
what was going and won't go in when it rains
and the wastewater and the storm water come together, and
(24:00):
you know in the central city they've got down at
the Violet, they've got Brownie's Pool. Well, I think we
should call this one Brownie's Pipe. Australia next said.
Speaker 1 (24:08):
Big international correspondence with ends and eye insurance, peace of
mind for New Zealand business.
Speaker 3 (24:15):
He talks to me as quarter to six, Lammy is out,
Rachel Reeves's out. This is Andy Burnham coming into number
ten Downing Street. He's already announced that Healley, who was
Starmer's Defense secretary who then quit over how much they
were spending on defense. He is now Burnham's chancellor. Considered
a safe pair of hands, been around the traps for
a while. Ed Milliban was one of those touted as
(24:37):
being a chancellor. He's just been announced the Foreign Secretary.
And Muttwood this is the other potential contender they were
talking about to be chancellor. She's just been announced as
the Home Secretary, so basically keeping her job. It is
quarter to six now and we will go to Australia.
Do on a demands with us on a good morning
HI form Defense Force soldier has pleaded guilty to trafficking
(25:01):
cocaine but doesn't go to jail.
Speaker 11 (25:04):
Yes, he has been spared jo This twenty four year
old appeared in court yesterday and pleaded guilty to trafficking
cocaine in twenty twenty four. He was a rifleman and
field medic and the court heard that during his service
he did purchase forty five grams of cocaine over six
weeks from a fellow soldier. That fellow soldier pleaded guilty
earlier this year to trafficking large quantities of a cocaine
(25:25):
while serving as an Army infantry soldier. So the Supreme
Court that heard that this soldier had paid in cash
and at times you know, popped the payments into the
army backpack of his fellow soldier. And we heard from
the judge of course, so you offended whilst you had
the honor and the privilege of being a member of
(25:45):
the Australian Defense Force. And questioned this same judge questioned
why this soldier had said he was slowly getting more
blokes onto the staff. He did plead guilty to two
charges but has avoided jail. He got a four year
prison term, but it's going to be suspended for five
years as long as he does not reoffend.
Speaker 3 (26:06):
All right, now, let's get to the most important story
of the day that this mums how many babies has
she had?
Speaker 11 (26:13):
A Brisbane woman has naturally conceived identical quadruplets and they've
all been born and they're all healthy, they're all daughters.
Congratulations to thirty four year old Jennifer Namuana and her
partner Jorthan. They had these four babies delivered by caesarean
at twenty weeks and four days and look they're still
in the neonatal intensive care in it being cared for.
(26:35):
But it's extraordinary. Doctors are saying that pregnancy was so
high risk. In fact, it was very very high risk.
As they put it, it's incredible that they're healthy and
it's a one in far Wait a minute, negat this
is right, one in fifteen million pregnancy. It's just extraordinary.
They have set up a go fund me for the
(26:56):
family because apparently they really really need a ten to
twelve a van.
Speaker 3 (27:00):
Now did they know this that they had quadruplets coming?
Speaker 4 (27:05):
Oh?
Speaker 11 (27:05):
Yes, they yes, they did, ye they did?
Speaker 3 (27:08):
Goodness me, what a story. Hey, good to have you
on this morning don to tomorrow Australia corresponders. So that
one in fifteen million pregnancies are identical, so they're all
going to look the same too. The four babies. It
is twelve minutes away from six.
Speaker 1 (27:20):
Ryan.
Speaker 3 (27:20):
Now, one thing you will be watching very closely if
you have four newborn babies is inflation. And goodness on
this side of the Tasman we're up again. We're getting
a number out this morning. Most economists have it coming
in at four percent. I think the RBNZ was same
three point nine. Cameron Bagriy, independent economists and founder of
Baggery Economics, with us this morning. Cameron, good morning.
Speaker 12 (27:39):
Oh, good morning.
Speaker 3 (27:40):
So what what are you expecting.
Speaker 12 (27:44):
Here? By number looks off, it's going to be something
around four Look whether it's three point nine to four
point one is pretty immateial I'm the key here is
going to be core inflation. Core inflation sort of SCRIPTU
out food and energy and conflation has been stubbornly sticky
around two point five percent of the Reserve Bank would
like that number a little lower to two percent, which
is the biddle part of the inflation band. Again, one
(28:06):
if we see core inflation pick up in regard to
where interstrates a lot there we go.
Speaker 3 (28:10):
Do you think core inflation is going to pick up?
I mean, we've seen the energy costs go up, and
this was this is the full picture of the war, right,
the last one we got only captured about a month
of it.
Speaker 12 (28:21):
Yeah, I think core inflation is going to continue to
be simmering around that two and a half percent mark,
and that's going to place the Reserve Bank in an
awkward position. And part of the problem got wrong is
that we sall have gotten pop inflation, but we really
didn't get fully on top of inflation inflation. He had
gone inflation that belows it got back around two point
(28:42):
two percent. Normally, when you go through a recession, you
see inflation dropped well below two percent. It didn't drop
below two percent. Your core inflation was still on the
upper part of the one to three percent inflation band.
So when you see an inflation shot coming through the system,
which is what's coming through the system at the moment,
you're going to be a little bit more on alert.
You're going to be a little bit more cautious. And
(29:03):
of course the Reserve Bank has got interstrates. You have
the official cash right is still what's called the funds
are and the fund zone is sort of when you've
got the official cash right for low three percent, idea
that you have that OCR not in the fund zone
by around three percent, what's we call neutral. As we're
the reserve bank. No, ei've got the foot in accelerator
or the break.
Speaker 3 (29:22):
Which is where they'll get by Christmas. Right, Well, that's
what the markets are telling us they'll do. Would today's number,
I mean, how bad would today's number have to be
for them to put the really foot to put the
foot down on it.
Speaker 12 (29:33):
Well, we'll really put the foot down. Look like I
think they're going to go respective. I just think if
you're a central bank and you've got inflation that's been
in the apple part of your zone or that out
of your zone for about five years, you want to
get that OICR back to three percent. And what we've
got at the moment is that it's pretty clear that
we've got a cross shop. But an improved economy, and
(29:55):
the economy on the improve is a good thing. When
you've got the economy on the approved the GDP numbers
for the dunk quarter, they're not going to look that great.
But if you look at the economic imitators outside of
the Dune Court, it's very clear that things are picking
up outside of the housing market. So there's no need
to be special care st rate to be around two
point five percent. Okay, if you own a property, you've
(30:16):
like the official care strate to remain pretty low. But yeah,
people need to wake up the reality that we don't
get more wealthy seven more expensive houses to each other,
and so that party is sort of over and there's
there being you know, think they're going to be pretty cautious,
like most simple banks around the globe, because we've just
had inflation too high to too long, and inflation is
just a tax on society.
Speaker 3 (30:37):
Cameron Bagri, Independent Economists, founder of Bagri Economics. That number
out this morning. It is nine minutes away from six
Bryant Bridge, so everybody, the cabinet ministers are walking, well
would be cabinet ministers are walking into number ten Downing Street,
being told what jobs they have been given, shaking hands
with Burnham and then walking out. And at the same
time Burnham has been on the phone to Trump. This
(30:58):
is according to the American investador in the UK telling Fox.
So Trump and Burnham have spoken and every time Burnham
speaks well, at least when he was outside number ten,
cost of borrowing for the UK went up. Since then
he's announced Healy as his chancellor. It's eight to six
y're on newstalk sad B.
Speaker 1 (31:17):
The first word on the News of the Day early
edition with Ryan Bridge and Spark for Business Technology that
keeps Business Moving News Talks d B.
Speaker 3 (31:27):
He talks about six minutes away from six. So al
Mayo who was mates with Al Chapo. This is the
Mexican drug lord. He was a Sinela cartel in Mexico.
He has just been done a lifetime sentence. He actually
admitted to it that he did a deal with prosecutors
last year for shipping cocaine and other substances, etc. And
he also forfeited twenty five billion dollars in profits. I mean,
(31:51):
this is why you would Is this an ad against
four or against being a Mexican drug kingpin? You know, yes,
you're going to isn't for the rest of your life.
But he gave up twenty five billion dollars in profits
as part of his punishment at the age of seventy six.
At six two Bread Rich Morning make morning. Is this
corporate welfare for a Golden based It's a.
Speaker 13 (32:15):
Very very good question, and I don't have the answer
because I don't. No one knows what the detail of
it was, because you've got to have the writers of
business to go, this isn't working for us, so we
can close it down.
Speaker 3 (32:27):
Which is what they said was going to happen. Well,
that's what.
Speaker 13 (32:29):
They say, but Fletcher Building's got form. Yeah, so then
you go is that true? And if it isn't true,
you then go back to the original, which is there's
only one cement producer in this country. So therefore, from
a governmental point of view, having just cleaned out a
tank in Marsden Point, you're into a little bit of
you know, reliability and resilience, aren't you.
Speaker 3 (32:48):
But then you know, where is the where did you stop?
Speaker 12 (32:50):
Do you?
Speaker 3 (32:50):
Food? Couldn't agree more? Couldn't agree more?
Speaker 13 (32:53):
But then exactly what you said a precedent. What hasn't
been explained is this this this fron mental thing that
we're bringing on about yesterday, the ets and how that
sort of suddenly cement becomes a problem and the rest
of it we bring into the country isn't a problem
et cetera.
Speaker 3 (33:09):
If somebody is importing imported cement doesn't have the ETS
cost slapped on it, so therefore barrow to disadvance.
Speaker 13 (33:15):
So so once again you can then go back to
the Fletcher question.
Speaker 3 (33:18):
Is that is that the stalking horse, that's not the
root cause. The ETS cost is the root cause of.
Speaker 13 (33:27):
Is your business really going under? Or if you found
just an ETS excuse to go to the government and
go and tell you what. That's too big a hassle
for us, and then so give us sixty million bucks.
Speaker 3 (33:36):
And here's the problem. And Paul's texting in about this
this morning as a taxpayer coming into an election. Any
business that has an ETS cost now and it's facing
plant closure, hand up please.
Speaker 13 (33:47):
It's the most interesting story of the week by quite
a large I could and everyone seems to have missed it.
But anyway, we will be dealing with it Ryan this morning,
big time, don't you worry. Also, by the way, Ryan
Fox is literally just landing in Florida, back home where
he lives, and so he's going to jump on the phone.
So we missed him yesterday. So I'm going to get
the full glory in the detail from them later on.
Speaker 3 (34:09):
Good Stuff. The Mike hosting Breakfast Next on News Talk
said B see you tomorrow.
Speaker 5 (34:17):
Up God.
Speaker 1 (34:22):
For more from Early Edition with Ryan Bridge, Listen live
to News Talk Set B from five am weekdays, or
follow the podcast on iHeartRadio
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