Full Show Podcast: 05 December 2024

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
Pressing the newsmakers to get the real story. It's Andrew
Dickens on hither due to c Allen Drive with one
New Zealand, Let's get connected.

Speaker 2 (00:10):
News Talk said by.

Speaker 3 (00:12):
Good afternoon, welcome to the program. It is the fifth
of December and here we go scrutiny. We keeps on
delivering news. Today, police bosses have revealed that the government's
target to train five hundred new police officers could miss
its two year deadline. Jenny McDonald is joining us just
out of five o'clock today Today big guest the Australian

(00:33):
Deputy Prime Minister and Defense Minister Richard Miles. He'll be
on the show for an interview just after five thirty.
We'll talk about defense, We'll talk about Orchus, we'll talk
about China. We'll talk about ICBMs and why the French
the French, Why to France say no to the orbacks
this year? What is it about their health concerns. We're
going to talk to David Moffatt about that. Our whole
heap more. You can text me on ninety two ninety two.

(00:55):
You can email Dickens at News Talks at b dot
co dot NZ. It's eight after four right yesterday around
this time, Darcy walder Grave and I were talking about
how the English and New Zealand cricket teams have been
deducted three points each towards the World Test Championship, and
they got that for slow over rates. Apparently the third

(01:16):
day was six overs shy and more than that, all
the players lost fifteen percent of their match fees. That's
quite a lot of money, and Darcie and I were
talking about it, were saying, gost this salt seems a
bit harsh, doesn't it, especially as you consider that the
game actually lost a day and a half because we
lost too easily. Anyway, So I was driving home last
night and I heard Darcy talking to the former ICC

(01:37):
umpire boss about it, saying, well, what's happening here? You've
come down pretty tough, and that fella explained that it
was for the fans because who wants to watch less
cricket because the team is dawdling, happens too much. It's
all gainsmanship to take away momentum or to give bowld
As a bit of a rest. So the argument there
is that also you can go back at them and say,

(01:57):
well yeah, you say that for the fans. But hey,
think about the fans, because you've taken away the points,
which now denies the fans a chance to see their
team in the championship final. And I thought that was
a very fair point. But then the fellow came back
at Darcy and said, well, there's also a commercial factor.
The broadcasters who pay for the rights which pay the players,

(02:18):
make the money by putting on ads between the overs.
So if you bowl six overs less than you should do,
that's six less ad breaks. So fair play to take
away the players' money, because if you rip off the paymaster,
don't expect the paymaster to pay. And then suddenly I

(02:38):
just had this flash and I went right the way
back to first principles, where rules are rules, and break
the rules. The only way you learn is with consequences.
So Damien McKenzie this season learnt that when he took
too long to kick a conversion and the rest said, well,

(02:59):
you can't do it now, and he took away three points.
Have you noticed that, all of a sudden, every conversion
happens in a timely fashion, and every stadium has a
shot clock on the big screen, and the game is faster,
and the fans are happier, and all it took was
one pretty heavy action against Damien. Rules are rules, and
consequences are consequences. And that brings me all the way

(03:22):
back to sevu Reese, who broke the rules not once
but twice has not felt the full force of the consequences.
And frankly, that's not good. It's not good for anyone.
It's not good for him, and it's certainly not good
for his victims.

Speaker 2 (03:38):
Andrew dickens, So.

Speaker 3 (03:40):
We've got new research from Kiwibank which shows that the
third of us have used the bank of mom and
dad to get into our first home. And as you'd expect,
the numbers even higher for younger people. Sixty five percent
of gens Z homeowners had some sort of financial help
from their parents when they bought their first property. So
Leslie Harris as a director of the First home Buyers

(04:01):
Club and she joins me, now, Hella, Leslie, good afternoon, Andrew.
This doesn't shock me. But what does shock me is
just how many kids are dependent on the parents.

Speaker 4 (04:10):
Well, it doesn't shock us at all.

Speaker 5 (04:11):
It's kind of what we know.

Speaker 4 (04:13):
I mean, we saw some research that came out all
a couple of years ago that talked about bank of
Mum and Dad is actually our biggest bank here in
New Zealand. So we know that a lot of people,
you know, especially the young ones, are relying on that contribution.

Speaker 2 (04:29):
But you know, we've.

Speaker 4 (04:29):
Also got to go, well, aren't you lucky if you've
got a mum and bank of Mum and Dad. I mean,
not everybody has that exactly.

Speaker 3 (04:36):
Yes, well, there's that old thing that rich get richer
and the poor get poorer and for the.

Speaker 4 (04:39):
Real it's generational generation.

Speaker 3 (04:41):
Yes, yeah, Okay, is it happening more now than in
the past?

Speaker 6 (04:45):
Has it?

Speaker 3 (04:46):
Has it been exponentially rising over the last while, or
has this been happening for twenty thirty years.

Speaker 4 (04:51):
I don't believe it's been happening as as not nearly
as much as what we're seeing now. But we're seeing
such a massive disparity now between people's incomes and ability
to purchase a home, which is completely different to what
it was twenty or thirty years ago. It's really only
those very top income earners that we're seeing actually able

(05:15):
to actually get those mortgages and get into those homes.

Speaker 3 (05:18):
So is this a warning for anyone who's planning to
have kids or has just had kids, that really you're
going to have to start thinking about making sure that
you're tithing off a certain part of your income to
help your kids, because it's going to be necessary.

Speaker 4 (05:30):
I think one of the things that I've talked about
a little bit before is that you know, as a country,
really thinking about the impacts on people's retirements. I mean,
if I look at myself, you know, three children, if
I've got to help all of those into their first homes,
then really my retirement's going to look actually quite different.
So this is a real New Zealand problem. It's not

(05:52):
just for the young ones getting into their homes. It
actually is going to impact our generation going into retirement
with what they've actually got to retire on.

Speaker 3 (06:02):
Do you have any facts and figures about how these
loans or gifts are structure? In fact, I'm going to
ask a different question, are these loans or are these gifts?

Speaker 4 (06:14):
Typically what we're actually seeing is gifts, because really if
they're loans, then it's not going to make that much
difference to the bank because it's still going to have
to be something that needs to be paid back. I mean,
one thing that the key wei Bank report did touch
on is the importance of really having clarity amongst all

(06:34):
parties about is it a gift or is it a loan,
because if it's a loan, it's got to be factored
into the repayments and their affordability.

Speaker 3 (06:43):
Yes, but some people just don't believe in disclosure.

Speaker 4 (06:48):
Yeah, well, I mean that's but then you know, potential
impacts on families falling out if all of a sudden
they've got to start repaying something and they weren't clear
on that's that's going to cause some issue.

Speaker 3 (07:00):
So do you have any sort of anecdotal stuff or
any empirical evidence about the contracts that might exist between
parents and children to ensure that the parents' money, that
their assets are not wasted.

Speaker 4 (07:14):
So one of the things that you know, I've spoken
about a little bit is anything like this. You know,
it's full disclosure, and you need to get the right
legal advice because there's a lot of implications. For example,
if I was to gift to my son and then
he was married and then divorced, I wouldn't really want
that gift being split two ways. So things need to

(07:35):
be structured in a way so that the intention of
that gift is actually preserved for the purposes that it
was initially intended for.

Speaker 3 (07:45):
Our lawyers up to speed with this, and therefore they
have the forms, they have, you know, the templates, so
that they can put in an agreement that will protect
the parents' money, because you quite right that whole you know,
after the de facto, after the two years, you know,
a bit of a split halfy money goes you know, well,
you know, preventing.

Speaker 4 (08:01):
That has some very clear, strong advice that we've seen
being given that some sort of prenup or something, you know,
before entering into that de facto relationship if there was
going to be a significant gift for the house, so
that it just all needs to be thought about. It
all needs to be discussed, and we recommend getting proper
legal advice from the experts that know the stuff.

Speaker 3 (08:24):
Good stuff. And I thank you so much. Lesie Harris
is from the First Home Buyers Club who knew that
there was a thing like that, and she is a director,
And be very very careful. It's a minefield out there.
Take through ninety two, ninety two, Andrew, I'm worried about Heather.
Is he okay? From Penny Penny that's very sweet. Guess
what Heather is back tomorrow? We know that already. It
is four sixteen on the way Darcy Waldergrave does he

(08:45):
know anything? By the French the Friends say that they
won't play the All Backs in America because of health reasons.
What is that about? Darcy's next?

Speaker 1 (08:54):
Who will take the White House? Results and analysis of
the US election on? Heather Duplessy? One drive with one
New Zealand let's get connected, The news talk said, be
sport with the new tab app downloaded today. Rita bit responsibly.

Speaker 3 (09:11):
Dazy water Grave, how are you?

Speaker 7 (09:13):
I'm very very well yourself.

Speaker 8 (09:14):
You've got a.

Speaker 3 (09:15):
Phoenix shit, that's a or shit or phoenix?

Speaker 2 (09:19):
Have you?

Speaker 3 (09:20):
I wish? Oh that's a pity. I'm not on tomorrow
because I've got an orkandef C shirt. Oh right, and
you could have won the Phoenix shirt. Ah, and you're
going to lose actually possibly, I don't know.

Speaker 7 (09:30):
Look, it's a bit of revenge coming in for this
game right after they got beaten in the other derby.
Well there's one of three's one next to you too,
so they're coming up here to try and exact some
revenge on a team that hasn't been beaten all seasons past.

Speaker 9 (09:45):
Five and oh it's incredible.

Speaker 3 (09:47):
Hasn't even let in a goal? Amazing? Can I just
say mister Pawson was a brilliant buy from Bournemouth?

Speaker 9 (09:55):
Wait, well didn't it?

Speaker 7 (09:56):
So if you're keen on throwing a bit of cash
around on this, because I think this is there's a
right up for betting this. It's going to be a mad,
mad crowd. What twenty six thousand piled? And I'm quite
sure how they've managed to get such traction?

Speaker 9 (10:08):
Is it just winning?

Speaker 7 (10:08):
I don't know anyway, R eighteen bet responsibly, plain me.
But if you want to have a crack three point
fifty for the draw, no one's going to see that coming.
I do like that they're talking about the possibility of
Auckland winning to mill and there's some money in that too,
three dollars seventy five. So if they keep their clean
sheet and win three dollars seventy five, Wellington way outside

(10:33):
on three ninety Auckland one ninety one. So I'm tending
towards the draw, so we'll go anyway. It's all with
the tab again. R eighteen bet.

Speaker 3 (10:43):
Responsibly, So you know I'm a I'm an AFC fan,
right you are, and they have been good bandwagon joy,
but I was also a Knights fan. I was also
a Kings fan. I've got all those shits. I've got
all those shits. We've been waiting for. We've been waiting
for a decent football team for a long time. There's
a decent football team here. But I know that the
Phoenix is a decent football team as well. And I

(11:04):
watched their game the other day, which they want. This
is the Phoenix and Chief he was talking afterwards, and
he was talking about how basically he used five different
formations in one game. And he sat there and said, okay,
go to two four four. It's changing it up. He's
changing around all over the place. They were going a
week off right by last week, the Corica is talking
this week. He says, I understand that the Phoenix just

(11:26):
changed all over the place, and we're going to have
to be aware of it. And that's when I started thinking,
this is going to be a mighty, mighty match full
of great tactics, you know, and the best tactics will win,
and it could be the Phoenix.

Speaker 9 (11:37):
And it could be a draw. A through sixty.

Speaker 3 (11:38):
Well that's a very good that's a very good payout
ur a team. Bit responsibly, why are they all backs
in France not playing and why did they give the
exclusive health they might.

Speaker 7 (11:47):
Want to fly their F team halfway around the world
for what essentially is a meaningless game of football.

Speaker 9 (11:53):
It is meaning.

Speaker 7 (11:53):
That's because they're not going to seend their their A
team because they can't.

Speaker 9 (11:57):
Because they're all tied up with clubs. Clubs won't release.

Speaker 3 (12:01):
Them, so they haven't got their best splits. Why don't
they have an international window like they have in football,
Because football is old, it's.

Speaker 7 (12:08):
Been going for a long time, and I hate to
say it, it's probably a lot more sensible than rugby.

Speaker 9 (12:13):
Rugby is odd because it's got split.

Speaker 7 (12:15):
Seasons, it's got a northern hemisphere southern hemisphere, there's no
international season. It's quite complex, whereas football have got an
ironed out which makes sense. But they're like, we're not
going to send our F team over to basically a game.
We're going to get thrashed and it's not good for
them to be flying all over the woods, so we
know we're.

Speaker 9 (12:32):
Not going to do it. They were asked.

Speaker 7 (12:34):
It was never confirmed and I plead in z are
You've got this extra match, which is great one you
thought you were going to give away when you're going
to sell and you didn't.

Speaker 9 (12:45):
Can you please take it to the Provinces?

Speaker 7 (12:47):
Can they take it to Yarrow Stadium? Can you when
it's trying to Valga Park in the claim part?

Speaker 3 (12:52):
You know Trafalgar would have to rebuild. I get that,
but Yarrow had a great test once upon a time
and they've been rebuilding. Is that ready to go? They
had England play down there thirty thousand people.

Speaker 7 (13:02):
And I'd say that also, sunstrike is not an issue
at McLean Park for rugby, sob over there.

Speaker 9 (13:11):
I don't know, maybe even I know.

Speaker 7 (13:13):
I don't want to call Hamilton the Provinces because it's
not but a smaller ground.

Speaker 3 (13:17):
I'm saying go wide, go wide and far and because
they're our team, right the All Blacks attitude?

Speaker 7 (13:22):
Can you actually can they actually play in front of us?

Speaker 3 (13:25):
Good stuff?

Speaker 7 (13:26):
That just saying yeah, yeah, thank you very much.

Speaker 3 (13:29):
I'm saying it. Say all right tonight, Yeah.

Speaker 7 (13:31):
We're going to talk about the power of Auckland FC
tonight and David Choke I believe he's going to join
us around how they've been So what is the deal
with this bandwagon?

Speaker 3 (13:40):
The town's been gagging for it for a very long
time and it's a party night. So thank you mate,
seven o'clock tonight.

Speaker 1 (13:46):
You Andrew Dickens cutting through the noise to get the facts.
It's Andrew Dickens on hither due to see Ellen drive
with on New Zealand. Let's get connected and you talk
as they'd be.

Speaker 3 (13:58):
Yeah, for twenty six the bank of Mum and Dad's
text through ridiculous. Just made the kids pay their own
for their own job at your houses, made them stand
on their own two feet. You're not going to pay
their rent, are you? Well, no nobody is, or some might.
But at the same time kids struggle to get to
stand on their own two feet. They can't get the money.
I know there's a god. A twenty eight year old
Sonny has a very good income. He doesn't have a partner.

(14:19):
He's been trying to get enough of a loan to
get enough of a place and we thought we might
help out, but the difficulties of doing a combined bid
became too big, and so that's put on the back burner.
You need to have a partner really you need two
incomes to do it, that's the first thing. And if
you're not partnered up, well you fall behind. Another text says,
intentionally or not, the boomers have sold us out by

(14:40):
eating up the property market. I will talk next hour
a little bit about what happened on the share market yesterday,
even though we had a big float, because that shows
how our economy has been skewed towards property and not
towards paying investments. What else have we got here? Oh well,
look I'll tell you what we've got the scrutiny committees,

(15:02):
which I think is being brilliant. What have we had
so far? We had cooked the books yesterday. We've had
Ian Rennie today warning that Jude the global slowdown, New
Zealand souper is becoming unaffordable. Acc privacy breaches are now
apparently we're not going to get enough cops. Ginny from
Labor at five oh five, But the big one today
is at five point thirty mister Richard Miles, who is
the Deputy Privatister of Australia also the Defense Minister, having

(15:25):
a word with Judith and Winston all about how we
do our defense, what we're doing with our defense, Chinese ICBMs,
orcas all that stuff, five point thirty today, See you there.

Speaker 1 (15:38):
Hard questions, strong opinion, Andrew Dickens on Heather duper Cy,
Alan Drive, where's one New Zealand, let's get connected news.

Speaker 2 (15:45):
Talk as it'd be.

Speaker 3 (16:08):
Good after I rocking back to the program. Now there's
a reason we're playing the song, and it's because this
is Spotify Rapped Day. This is the day that Spotify
informs everybody who uses that app right around the world
exactly what records they listen to. Did I just say records?
Did I just sound like an old person? What records
you listen to over the course of this year, How

(16:29):
often you listen to it, which artists you listen to.
They will tell you how long your longest period of
time listening to a record was or a playlist was.
Apparently one day I listened to Spotify for four hundred
and sixty six minutes in a row, and Spotify actually
asked me how did you find the time? And I said,
I just put it on and lift it on. Man anyway,
So all day long we're going to be talking about

(16:51):
the wrapped playlists that have come out from around the world.
This song is Hosier. It's called Too Sweet. It is
the third most to song by Kiwi's on Spotify this year.
Can you turn up a bit more? Can we hand

(17:12):
so bit by Bett, We'll go through all the songs.
We'll tell you what the number one song loved by
New Zealanders was. I can't believe it, really, I don't
even really know the song, but anyway, we'll talk about that.
At the very end of the show. I will play
the song that I played the most, and even I

(17:32):
was shot and I went, really did I play that
the most? And apparently I played it so much. I'm
in the top point five percent of the entire globe
in playing the song. And it's not what you think
it might be. And what's also very exciting is that
we will play you Christopher Luxen's wrapped playlist What songs
did Christopher like? And shortly Murray Olds will tell us

(17:54):
what and to the Alban Eazy liked? Can you imagine
It's all to come?

Speaker 1 (18:00):
It's the world wires on Newstalgs Eddy Drive.

Speaker 3 (18:04):
So he woke up to this morning to just the
most extraordinary story. A CEO of a health insurance company
in Manhattan in America, in Manhattan shot dead in what
looked like a gang killing. It was incredible. Manhattan police
are still searching for the man who killed the CEO.
His name was Brian Thompson. He was shot in the
street by a hooded mass man who then jumped on

(18:25):
a bike and fled into Central Park. Now here is
the New York City Police Commissioner.

Speaker 10 (18:30):
I want to be clear at this time, every indication
is that this was a premeditated, pre planned, targeted attack.

Speaker 3 (18:41):
All right, surprise, surprise, the French government dead. Indeed, go
and collapse. We knew it would. Michel Barnier has become
the first French prime minister to lose a no confidence
vote since nineteen sixty two. A politics professor at Queen
Mary University in London says President Macron is going to
have to find a new prime minister very very quickly.

Speaker 11 (19:00):
France has no budget and their current budget expires at
the end of this month, so they face a potential shutdown.

Speaker 7 (19:06):
The situation similar to ones we've seen in America.

Speaker 3 (19:10):
Sure, but it took them weeks and weeks and weeks
and weeks and weeks to find Michelle Barnier. So you
don't just pick up one of these prime ministers every
day at the second hand store. And finally, bah, sleepy jar. Yes,
US President Joe Biden fell asleep. He nodded off during
a meeting. He's been attending a summit to Angola along

(19:31):
with several African leaders. A video from the event shows
him resting on his elbow and then, ah, sleepy jar,
fell asleep.

Speaker 1 (19:40):
International Correspondence with Ends and Eye Insurance, Peace of mind
for New Zealand business.

Speaker 3 (19:47):
Murray Olds joins us from Australia.

Speaker 6 (19:49):
Hello, Murray, Hello, Andrew gonna afternoon?

Speaker 3 (19:52):
Right, too excited to find out what Albo has been
listening to on Spotify. Don't tell us, but you know,
is it shocking?

Speaker 6 (19:58):
Well, I haven't heard him of them?

Speaker 9 (20:00):
Well, I've heard of one.

Speaker 6 (20:01):
G Flips from Melbourne.

Speaker 3 (20:03):
Okay, we'll save this to the end.

Speaker 6 (20:07):
She she's a drummer and she sings someone called Angie McMahon.

Speaker 3 (20:11):
Stop hockey, Dad, stop stop stop it, stop it. We'll
save us to the end. That's given some real news, right,
Dutton says Labour's stands on Israel's two extreme.

Speaker 6 (20:22):
Yeah, I mean, please give me a break. I mean
talk about overegging the pud. He says that. Peter Dutton,
the Opposition leader, says Labour's extreme left wing has hijacked
the whole debate over Israel. Listened to this, Dunton claims
what Labour's done threatens quote civilization itself unquote. Now the
catalyst for all this over the top up, heerbly, a

(20:43):
Labor government decision to back a United Nations decision, a
resolution that supports the idea of a Palestinian state. Well,
whoop do you do hello, It's been on the books
over here for a long time, a two state solution,
one a state of Israel, then a state of Palestine. Now,
the Opposition says Labor is carrying favor with Arab voters

(21:04):
in the western suburbs of Sydney and Melbourne, with of
course a federal election coming up next year. Lots of
Muslim migrants have settled in those western suburbs. Jewish organized organizations,
on the other handrate have basically condemned the latter's vote,
says Israel has been abandoned by the Australian government. So
somewhere in the middle is from where I'm sitting, just

(21:25):
that it's a nothing burger.

Speaker 3 (21:27):
I mean, come on, yes, extremities exist on all sides
and they're not finding common ground. And I think you
find that's the problem.

Speaker 6 (21:35):
No kidding, absolutely right, And I don't think there's any
interest in finding common ground in the run up to
an election. They both want to take positions and belt
each other over the head. There's no attempt anymore in
Australian politics to find any common ground for the common good.

Speaker 9 (21:51):
All right.

Speaker 3 (21:51):
We've got a father found guilty of sexually assaulting his
daughter and this.

Speaker 6 (21:56):
Is an Australian first because the young woman involved has
multi personalities. She was the key witness in a jury
trial in New South Wales up in Newcastle. Actually she's
got a condition called disassociative identity disorder in the old
language that you and I would understand former it was
formerly known as multiple personality disorder. The father has been

(22:17):
on trial since October and Newcastle twenty six charges of
sexual assault against his daughter and another sibling. The daughter
spent ten days in the witness box. This has never
happened in Australia before. And she was sworn in Andrew
as herself, as a five year old girl and as
an older woman, and each personality gave evidence so you know,

(22:38):
the juris come down and found and found the father
guilty of twenty three of twenty six charges. He's going
to be sentenced next year. Basically, the prosecution said, listen,
the daughter's evidence was reliable. As far as the defense claims,
it was completely unacceptable. But the found in favor of
the prosecution.

Speaker 3 (22:58):
She could actually turn the personalities on and off at
will and therefore answer the questions depending on which personality
was being asked the question.

Speaker 6 (23:07):
I think she was sworn in as each personality separately
and then was asked questions relating to that personality and
the allegations that personality had made. That's my understanding.

Speaker 11 (23:17):
I was not in court.

Speaker 3 (23:18):
No, that's incredible, all right. But by the way, that man,
you know, it's bad enough to abuse her daughter, to
abuse a daughter with mental difficulties. Is he wants to
come back?

Speaker 8 (23:28):
Yeah?

Speaker 5 (23:28):
No kidding.

Speaker 3 (23:29):
So let's get into this Anthony Albanesi, Yeah, Albo and
what his music tastes. I mean, we know him as
a bit of a liberal lefty as a student, so
I expect them Crosby Stills Nation young but a hippy
stuff in there.

Speaker 6 (23:41):
No, no, no, no, he was he was far too
radical to be at Crosby Stills. Now he's probably too
young to to be fair. I mean he has always
been a lad, a musical lad Albanizi, right from the
student days. He's got T shirts with you know, all
sorts of cult bands, mainly UK punk bands. To be
fair anyway, his list of his playlist for the year

(24:02):
has been released and I've only heard of one of them,
and that's g Flip. She's a young woman from Melbourne.
She's a drummer and sings, writes her own materials. Is
pretty odd.

Speaker 3 (24:12):
Okay, we've got to go. We're got some g Flip
for here right now for those people who never heard
O pleas enough, pleas enough, so giving up with the time.

Speaker 6 (24:25):
Then he's got someone called Angie McMahon. He's got Hockey Dad, Lime,
Cordial and sting Ray and I think sting Rays an
indigenous band from the Northern Territory. But I mean it's
it's certainly not my playlist.

Speaker 9 (24:38):
My playlist is bloody boring him.

Speaker 6 (24:40):
It led Zeppelin, taj mahal And and history podcasts and
that'll do me nicely.

Speaker 3 (24:45):
I'm going to reveal mine at the very end of
the program. But I can tell you that New Order
got up there because I went to a Joy Division
gig Peter looking the Light, and so New Order got
in there. But and also I got some of the
church got in there, under the Milky Way got in there.
So you know, I'm keeping to my age there. But there,
and there was a few songs that popped in there
that came out this year, and people will go, what
the hell were you on, Dickens, But you know, hey,

(25:05):
we're open, We're open to new things.

Speaker 9 (25:08):
No kidding.

Speaker 6 (25:08):
A bit of herb superb and let the music fly.

Speaker 3 (25:10):
Brother, Wow, that's the credit to day how you are
the best mate? Good times, bad times?

Speaker 6 (25:18):
Here we go.

Speaker 3 (25:19):
Yeah, that's enough fun, Barry. So does Barry have Spotify?
What's on his Spotify? Marla back Beethoven? We'll ask Barry's her.

Speaker 1 (25:41):
Next politics with centrics?

Speaker 2 (25:44):
Credit, check your customers and get payment certainty.

Speaker 9 (25:47):
You got to do when the whole.

Speaker 2 (25:51):
No, when the fall?

Speaker 12 (25:54):
No?

Speaker 3 (25:54):
Excuse me? Excuse me ans why are we playing this.

Speaker 8 (26:02):
Us?

Speaker 11 (26:02):
Barry?

Speaker 13 (26:03):
Barry?

Speaker 3 (26:03):
Why why are we playing this Barry?

Speaker 10 (26:06):
Yeah, well I didn't quite realize you were going to
play those, but there you go. It's the old story
isn't it. I think you tend to like music that
you grew up with. And I grew up with Kenny Rodgers.
I grew up with Dean Martin. My parents used to
like Dean Martin. So when I'm on my own on
that say, and because I'm not allowed to plan any

(26:28):
any time out bet, but when I'm on my own,
I listened to Dean Martin.

Speaker 9 (26:33):
It reminds me of my mother.

Speaker 10 (26:34):
And you know, and the Gambler, it's reminiscent of your youth.

Speaker 3 (26:40):
Do you realize the old bottle of his talks? B Dallas?
His favorite song was the Gambler. The Gambler is a
good song. It's a great song. And we've just heard
that and that's a lovely thing. Yeah, I know that
I'm the same. I'm the same because on my list
was Eva Cassidy and Autumn Leaves very good. It's a
beautiful song. But there we go.

Speaker 11 (26:56):
Aunt.

Speaker 3 (26:57):
You loved the scrutiny week. You know, we had cooked
the books the other day. We had the acc getting
into trouble about privacy breaches. Everyone's revealing everything. We've got
Mark Mitchell today going, oh, we might not make the
five hundred.

Speaker 9 (27:08):
They never were going to make the part.

Speaker 10 (27:10):
And I'm sure Ginny Anderson will love it because I
know you've got a roll after five o'clock.

Speaker 3 (27:15):
It'll be music to her ears. And now we've got
stuff about an FDA with India.

Speaker 10 (27:20):
Well you know again that was a promise that Chris
Luxen made when he's out on the election campaign saying
that we would get a free trade agreement with India
in the first term of government. Well, you know that
is really a big ask because the Indians are protectionist
when it comes to obviously meat and beef. Yes, they

(27:44):
respect their count rules, I know, so that's.

Speaker 9 (27:48):
Going to be difficult.

Speaker 10 (27:49):
And you had Tod maclay, the Overseas Trade Minister, before
the Select Committee today and he was saying, look, if
we don't make.

Speaker 9 (27:58):
It in the first three years is then don't.

Speaker 10 (28:01):
Blame Chris Luson, blame me, so that he's taking the
fall for his boss. But you know any imagination that
you know, if you know about trade, you would never
say that in three years a country, now the most
populous country in the world, India, would give a free
trade agreement away that easily. I was there with John Keene.

(28:24):
Now that was a number of years ago. We were
talking about a free trade agreement then, but of course
I think it weltered a lot during the Labor years
because they never really paid much attention to India. And
to get a free trade agreement, you've got to have
a lot of contact with the country, and I must

(28:44):
say that this government has had a lot of contact
with India.

Speaker 3 (28:48):
I mean, just be fair. Though, Labor put all the
effort into the cppp ttpp pptt, you know, and they
put all their effort in there, and then it got
all but it messed up because because of Canada and
all sorts of stuff. So that was Trump and Trump. Yeah,
I know, I know, and I get all that. So
they were concentrated there at of course Lux's coming. He
wants wins on the board and he's thought, there's in Dea,

(29:10):
you know.

Speaker 10 (29:10):
Well yeah, so look he's met with the Indian Prime
Minister Modi, the Indian president was here. Luxon's been invited
to go there, so you know, the dialogue, there will
be a lot of dialogue. And the more a country
gets to know you, the better chances are that you'll
get a free trade agreement.

Speaker 9 (29:31):
Think of the China Free truck course.

Speaker 3 (29:33):
Now, you mentioned Trump, and of course we're all worried
about tariffs and trade wars and what's going to happen
to our meat and stuff.

Speaker 10 (29:37):
Yeah, well, you know Trump, he is talking about ten
percent tariffs on countries like New Zealand. Todd McClay said that, look,
he was trade minister the last time Trump was in power.
Certainly tariffs did go up, but so did trade with
the US. So you know it was given with the

(29:58):
one hand and take with the others. So so the
biggest worry I think for countries that belong to this
trading group called BRICK, they would be worried because Trump
is now talking about one hundred percent tariffs on them.
But this is if they come up with an alternative currency.
And when you've got countries that belong to BRICK, like Brazil, Russia, India, China,

(30:24):
South Africa, Iran, Egypt, Ethiopia and the United A inwards,
you've got a lot of money there, and you know
who's to know that they may come up with an
alternative currency.

Speaker 3 (30:37):
And they're having just to reiterate, they've been using the
US dollar. The US dollar became the world's currency de fecto.
But now they're actually saying, well, we actually don't like America.
We don't want to use your money. And it's like the.

Speaker 10 (30:48):
Euro and the green back. You know, they have been
the dominant currency as well. You know, if you do
live in these countries, you are big economies. Now you go, well,
maybe we should look at our own form of currency
and use that in some way.

Speaker 3 (31:02):
Good stuff. Well, let you get home and music and
listen to your music. But of course Heather is at home,
so I'm sorry, so you won't be doing.

Speaker 9 (31:11):
It today, but tomorrow my headphones.

Speaker 3 (31:13):
Yeah, but tomorrow she's back at work, and so you
can do your thing of four to forty five, rush
home and you can play as much Kenny as you like.
Thank you so much what Eggy.

Speaker 9 (31:21):
Tapsters put to Dean Martin.

Speaker 3 (31:24):
There you go, good stuff, thank you.

Speaker 1 (31:26):
Putting the tough questions to the newspakers the mic asking breakfast.

Speaker 14 (31:30):
Let's move from the government on farm to forest conversion.
By next October, limits are going to be in place
on what land can be converted and how much planting
can happen. Fed Farmers Forestry spokesperson Toby Williams with us
on this.

Speaker 15 (31:40):
This is one of I think we've been asking for it,
having those restrictions on land classics, but also having the
ability for farmers still to plant up to twenty five
percent of their own land irrespective of what the slopers
are a great coop for farming.

Speaker 3 (31:51):
Have you had good input into it of the government
listen to.

Speaker 15 (31:54):
You, Yeah, we have. It's really added all of our
calls and we need to be really careful.

Speaker 16 (31:57):
Here is Dale at Warwick. You coul still be planted
on those lands class We just can't.

Speaker 15 (32:00):
Claim the eighty years.

Speaker 9 (32:01):
Sorry.

Speaker 15 (32:02):
It restores the talent between farming and production for asted back.

Speaker 14 (32:06):
Tomorrow at six am the Mike Hosking Breakfast with the
Rain Drive of the Lawn News Talk z B.

Speaker 3 (32:10):
Well, So scrutiny week this week and all sorts of
stuff is coming out. And the stuff that came out
today is that the police bosser has told the committee
that the government's election promise to train five hundred new
officers could take longer than the two year deadline that
they gave for themselves. Now remember this this is a
national and it's a coalition policy. Mark Mitchell said, we
will try New Zealand first, is part of the coalition

(32:33):
in agreement said no, we will do so it looks
like they will not do. So we were going to
talk to Ginny Anderson from Labor about this, but she
would just crow and say, oh, it's a break an
election promise and all that sort of thing. So we've
just found out that Casey Cassello from New Zealand First,
who is the Associate Police Minister, will talk to the
issue and we'll see what's gone wrong with the training,

(32:56):
what's gone wrong with finding these people, whether they can
actually ramp it all up, and whether they will meet
the colorless and promise that was made. So that's a
big story. In five point thirty Australia's Deputy Prime Minister
and Defense Minister will talk about defense in our regent, China,
icbm's North Korea Orcus and all five thirty today be here.

Speaker 1 (33:20):
The only drive show you can trust to ask the questions,
get the answers by the facts and.

Speaker 2 (33:26):
Give the analysis.

Speaker 1 (33:27):
Andrew Dickens on Hither Duple c Allen Drive with One
New Zealand.

Speaker 2 (33:32):
Let's get connected news talk as they'd be.

Speaker 3 (33:35):
As good afternoon. The time is now seven minutes after
five on the fifth of December, and I love Scrutiny
Week today the police and the firing line Police bosses
warned today that the government's election promise to train five
hundred new officers could take longer than their self imposed
two year deadline. Police Commissioner Richard Chambers told Parliament's Justice

(33:57):
Select Committee today that he is refusing to lower the
quality of the training to meet the target, so it's
not going to happen. Labour jumped on this immediately, claiming
it's a broken election promise. So Casey Costello from New
Zealand first is the Associate Police Minister and joins me. Now, Hella, Casey, Hi,
how are you very good? So in your statement that

(34:18):
you're released today, you said that in all your consultations
with the police you have not been told to this
point that the target would not be met and the
deadline will be missed. So how does today's news make
you feel about your coalition promise.

Speaker 17 (34:32):
Well, I think it's really important to get a context
of what the Commissioner was saying, and it was he
had said there was no deviation from the commitment to
achieve no end between twenty five and there was an
extrapolation around modeling around when it would have been achieved
and based upon my budget was said. But I've been
reassured that we are on track, that we're working hard.

(34:53):
We have a massive recruitment pipeline, the biggest that they've
ever seen, and so we're driving forward on that between
twenty five targets.

Speaker 3 (35:01):
But doesn't this go right to the heart of the
coalition agreement because right from the get go Mark Mitchell
said that two years would be tough, but New Zealand
first reminded him of the Coalition agreement and two years
was actually a hell of a deadline. So isn't this
right the right to the number of your relationship with
the coalition.

Speaker 17 (35:18):
Oh, it's like we have total commitment and Monster Mitchell
and I know we meet every week with police and
we talk about those targets and reaching those targets. We
have done a huge investment in terms of recruitment and
pipeline and engaging and that's why we have the mess
of pipeline. Unfortunately, we were behind the eight ball because

(35:40):
there was no wings that went through in December and January,
so there was no pipelines. We're in recovery and we've
done modeling and extrapolations.

Speaker 3 (35:47):
Okay, so it's obviously a change that will be a
loocause obviously not going to happen in the time that
you would have liked and you wanted and you promised.
But are you okay with it now taking longer?

Speaker 17 (35:59):
There's no And as I've said that, I have not
been advised in any way, shape or form, we're not
going to make the November twenty five targets.

Speaker 3 (36:08):
So you have hoped that they're going to make it.
You actually still have some hope that they're going to
make it.

Speaker 17 (36:12):
I still have hope that we make it. We have
increased the wing capacities, we have increased the number of
wings going through college. As long as our attrition rate
stays below the five percent, which it has done, then
I am confident that we can still achieve it.

Speaker 3 (36:27):
Good Well, that's good news. But do you really think,
as Associate Police Minister you should have been kept in
the loop about this conversation more.

Speaker 17 (36:33):
I think I've gone through and listened to what was
said in the Select Committee, and I think there has
been a little bit of distortion around how the conversation
went in the questions and how they were responded to.
I've spoken to the Commissioner today I'm satisfied they were
on track.

Speaker 3 (36:46):
Have you been selected to actually talk about this issue?
Because New Zealand first was so adamant about it, and
so Mark Mitchell said, oh, well this is your problem.

Speaker 17 (36:54):
No, I have the delegated under my Associate Police Minister,
I have the organized crime and I have the recruitment
of five hundred under my delegation. So I am the
right person to be speaking to.

Speaker 3 (37:05):
And should the government really just let go of the
number and as as of course, Richard Chambers, the Police Commissioner,
said he wants the quality and really go for the quality.

Speaker 17 (37:16):
Well, we are absolutely that's what We're not compromising quality
and that was why the pipeline has been so encouraging,
because we are getting some outstanding applicants through. I've been
to at least two of the recruitment weening so far,
fantastic people coming through. We haven't lowered the quality, and
I've been saying that right from the start we will
not lower the quality. But we haven't needed to because

(37:37):
we are getting fantastic applicants.

Speaker 3 (37:39):
All right, thank you. We all wanting more cops. It
is now eleven minutes after five, so the government is
looking to crack down on business mergers. Commerce and Consumer
Affairs Minister Andrew Bailey has announced a review of New
Zealand's laws on competition. He wants to try and prevent
monopolies forming you know is losers and the winners eat

(38:01):
the losers and then before you know it, they become
a monopoly. Here reckons doing that will improve productivity. So
Andrew Bailey joins you right now, good evening to your minister.

Speaker 18 (38:09):
Good evening, Andrew.

Speaker 3 (38:10):
So why are you doing this.

Speaker 18 (38:13):
Well, we haven't done it for twenty years. There hasn't
not been a formal review for twenty years, and we
need to make sure that we keep pace for our
international partners. Australias and the process of updating their competition
laws and many other jurisdictions around the world have done
the similar thing. But ultimately what we're looking at New
Zealanders we want to make sure that our laws fit

(38:36):
for purpose when it comes to assessing mergers and acquisitions.
And I think it's fair to say that we've got
a number of industries where we've got a small number
of players who've got very significant market shairs, and it
means less innovation happening and ultimately New Zealander is paying
more than they ought to.

Speaker 3 (38:52):
So you don't mind small companies merging, is when bigger
companies merging, you get closer and closer to a monopoly.

Speaker 6 (38:58):
Yeah.

Speaker 18 (38:59):
No, this is the tension point. We'd want to encourage
competition and obviously economies of scale. When companies buy the
companies and grow, that's fine, but there comes a point
when those entities become very substantial. And we have had
instances in the past where we've allowed mergers to occur

(39:19):
that have result in poor outcomes. And I've given a
specific example. I think historically people would look back on
the merger of Progressive when they brought food Stuff, which
ended up with only two supermarket operators a New zenter
of large scales, that that was probably a poor decision
in hindsight, but Communist commissioners working under the rules that

(39:40):
they had in place at that time.

Speaker 2 (39:41):
And what we.

Speaker 18 (39:42):
Are suggesting now is we need to review that and
make sure that we don't allow mergers that in hindsight
we're going to look back and say, God, we should
stop that.

Speaker 3 (39:50):
Yes, no, but you know, we're supposed to let the
free market do that, do its thing. That's what we did.
That's what Roger Douglas sports isn't. I can't imagine, in fact,
act being very happy about this.

Speaker 18 (40:00):
So it's fine, it's not precluding mergers, but there comes
a point when if certain industries where they're dominated by
a few smaller players ultimately lead to outcomes where you
can't get access to innovative services or let's say even banking. Right,
I'm pursuing it and trying to encourage open banking, which

(40:23):
means FinTechs come and operate and offer alternative banking products.
That's the type of outcome we want to make sure
that occurs. But we're doing that because we're in a
situation where we've got not enough competition in the banking sector.
What we're trying to do is head that off for
the past by these changes, by looking at introducing and
giving the Commerce Commission greater flexibility to assess mergers when

(40:47):
they get to a point where potentially they could exert
overt and over bearing market power on how that operates.

Speaker 3 (40:58):
And we've got to hear there's some new research out
from RFI Global that says that some retailers are charging
customers to use their credit card and the retailers are
pocketing it. How's your fee cap idea coming along?

Speaker 18 (41:11):
We're the Commerce Commissioner is doing a lot of work
on a moment and I'm keen to make an announcement,
but yes, we want to make sure that New Zealanders
are not paying more than they ought to when they
go to buy their coffee and getting charged to church.

Speaker 3 (41:25):
Yes, thank you very much, Andrew Bailey, all the best,
Thank you Commerce and Consumer Affairs Minister. Years ago, I
used to work for Alan Gibb. Remember Allen and Alan
and I would talk about economics and he would say
to me, monopolies are the preferred the preferred business unit
of a command state economy. I mean, ooh, you are disgusting.

(41:46):
How very communists have very socialist. He said yes, but
monopolies also happened from the free market because the winners
eat the losers and then they become the monopolies. And
I said, well that's a problem. What do we do then?
And he said to me, we smash him. The money
falls out and he reckoned. There was a twenty five
year cycle. And I think that's what mister Bailey is
trying to talk about. New stories will be can't just

(42:07):
do one last thing. Bitcoin hit a new record prices afternoon,
and now one bitcoin is worth one hundred thousand US dollars.
This is the first time it's hit the one hundred k.
The price of one bitcoin was sitting at one hundred
and two eight hundred and thirty six US dollars just
a few moments ago. Bitcoin has been going through the
roof since the US election. The price is up forty

(42:29):
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(42:52):
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Speaker 2 (43:28):
Andrew dickas, so.

Speaker 3 (43:29):
Let's talk rugby. France has reportedly declined New Zealand Rugby's
request to play excuse me to play the third of
three tests against France in the United States rather than
in New Zealand. So we're talking two tests in New
Zealand and then the India. Ar if you said right, well,
then we'll do one in America. France said no. A
French newspaper says the French rugby union don't want to

(43:52):
have the July Test in the US because they're concerned
about the impact that we'll have on their players' health,
which sounds like a very French and bizarre. This is
a blow for Insidar who we're hoping to make more
money having the test off shore. So I've got former
INDIDAAR chief executive David Moffatt with me right now.

Speaker 16 (44:09):
How the David good Andrew?

Speaker 3 (44:11):
So why would why why were we having the game
in America anyway against France.

Speaker 16 (44:17):
Oh, it'll just be for money, nothing else. It's certainly
not going to be for the fans. Well, it's just
the money grab the fan.

Speaker 3 (44:25):
Okay, Okay, So the fans are in New Zealand and
they're in France. Are they fans who are wanting New
Zealand France in America? Anyway? Does that market exist?

Speaker 14 (44:33):
Well?

Speaker 16 (44:34):
Well, the last time I looked at the All Blacks
were our national team and they don't play many games
here and they should be playing all the games that
they can play here, and that includes a three test
series against France. The fact that France don't want to
go to America has obviously killed that and I'm not
at all concerned that they have to be perfectly honest

(44:55):
with you. I think the last people, the enders that
this current New Zealand rugby union thinks about the fans.
They don't understand the fans pay for everything I mean,
you know, for everything, they just pay for everything and
they don't understand it and they're not concerned about it.

Speaker 3 (45:10):
Is this anything to do with silver Lake, you know,
the American connection.

Speaker 16 (45:14):
Well, they could well have something to do with it.
When when they announce a silver Lake deal, I suggested
that people should be should get used to the fact
that the will be more test matches played overseas, including
some of our domestic test matches. And that's what's happening.
Silver Lake deal. I don't think I haven't seen any
benefits from it, and they're just looking at the extra

(45:36):
ways of earning money. And if that's what they want
to do, go for it. Forget about your fans back
here in New Zealand who have supported this team for
well over one hundred years and they deserve to be
thought of and they're not by this mod.

Speaker 3 (45:49):
Well, the French side that's coming to news is not
going to be good because you know, the clubs are
not not letting go the players and so that the
tour will be a little bit of a phisit anyway,
and don't you think.

Speaker 16 (46:00):
Well it could possibly be. But see the difference is
that the clubs have a big say in French rugby,
and it seems to me that they're getting an even
bigger say because they don't want their players. You know,
they're not centrally contracted like in New Zealand rugby. So
they're saying, we don't want our players to be playing
a four club season, which in France will lasts until

(46:23):
about June normally. They don't want them hopping on airplanes
and coming over here, playing three test matches and then
going back and going straight back into training for their clubs,
because in France the clubs are more important than the
national team.

Speaker 3 (46:38):
True enough, David Moffett, thank you so much for your expertise.
I know the Dazi water grape. When were talking about
this earlier, said look, yeah, play there all three games
in New Zealand. And if you're going to play the
third one instead of doing it in America, why don't
you do it in a regional town that hasn't had
the game for a while. And he said Yaro Stadium
or Trafalgar Park And I thought that's a great idea.

Speaker 1 (46:58):
Digging deeper into the day's headlight sets, Andrew Dickens on
Heather due to clan drive with one new Zealand, let's
get connected and new stalks that'd be.

Speaker 3 (47:06):
So it's a very big down on the inset X
yesterday as the Augan Council sold its airport shares and
now there's a one point three billion dollar future fund.
And the thing it was a bizarre day because brokers
were pulling money out of stock so then slamming it
into Auckland Airport, which meant instead of the market going up,
in fact the market had one of its biggest single
day falls this year. And what does that say to me?

(47:26):
It says our market is a weedy little thing with
very few hero stocks, and when a hero stock turns up,
we all pile it. And this says to me, it's
more proof that the way we invest is too heavily
skewed into the property market. Investment capital sits around in
bricks and mortar in property instead of firing on businesses
that provide us with jobs and in turn the government

(47:48):
with revenue so they can build more roads and they
can hire more doctors and we can get better. If
you look at government debt to GDP, there was around
about ninety percent at the end of last year. Not good.
Private debt is at one hundred and forty percent. That's
you and I at forty percent of GDP, that's private debt.

(48:08):
Some of that is working capital for businesses, but most
of it is in mortgages. It's in houses and not
in businesses and in jobs, which is why when the
Reserve Bank puts the squeeze on interest rates, we slump
into a recession quick smart and right about now, you're
going to say, here goes Dickens. He's going to say
we need a capital gains tax. But you'll be wrong
because I'm part of the problem. I'm sixty one, I'd

(48:29):
be working for forty years. I've got a portfolio of
four properties. This is the best way to ensure personal
financial growth. We've all known it. We've known it for generations.
Even though I know it's not great for the country,
it's great for me. We're all saying this. I don't
want a capital gains tax, but at least I'm honest
about it. And if anybody thinks that they can change

(48:50):
this fundamental structural problem that New Zealand has fallen into
over fifty years year dreaming, it would lead to a
very long winter of economic discontent and are painfully slow recovery.
The only thing we can really do is try and
make the share market work, try and make liquid investments work,
make them more attractive, make them more lucrative, because at
the moment we stick them into asset classes and property

(49:13):
and maybe you could drop corporate taxt levels or maybe
capital gains on the share market. Maybe that makes a
lot more sense. But if we don't watch out, we
will end out dirt poor, with a lot of property
that looks very nice and maybe some nice arts, but
no jobs. All right, The Deputy Prime Minister of Australia

(49:33):
is my guest in just moments, he's also the Defense Minister.
We're talking defense, we're talking China, we're talking Orcus, we're
talking big stuff.

Speaker 1 (49:41):
In five, the day's newsmakers talk to Andrew first, Andrew
Dickens on hither do for clan? Drive with one New Zealand,
let's get connected news talk and said, be you.

Speaker 19 (49:55):
Know I'm falling a pot in prial cackle.

Speaker 3 (50:20):
I know the song when you're not. Because today is
Spotify wrapped today, where the app informs the entire world
what on earth you've been listening to? And you can
give all sorts of dart dives on this one and
what we're doing at the moment is one of the
most popular songs in New Zealand, and we're up to
number two and it's Teddy Swims and Lose Control. This
is the song we're listened to right now. I never

(50:41):
knew that that was Teddy Swims. Didn't know the song
was called Lose Control. Know the song. I listened to
music stations, but the kids on music stations can't be
bothered back announcing songs, and so you go, that was nice.

Speaker 2 (50:51):
What was it? Oh?

Speaker 3 (50:51):
I don't know, Oh, okay, and you never figured it
out anyway. Now I know the better Stitch's Am your Dinosaur.
I've got as well. But you're driving, mate, and you
can't say. Now, I've got to zam on my watch anyway.
The second most listened to song by Kiwi's on Spotify
this year still to come. Oh excitement. I'm going to
go through Christopher Luxen's wrapped list and I will tell

(51:13):
you my number one song, which has shocked even myself.
It is twenty two to six. Australia and New Zealand
are set to discuss foreign policy, security and defense during
high level talks tomorrow It comes after Defense Minister Judith
Collins warned earlier this week that China's recent use of
the inter continental Ballistic missile in the Pacific had changed everything.

(51:37):
Australia's Deputy Prime Minister, Richard Miles and Foreign Minister Penny
Wong will meet with Judith Collins and Winster Peters and
the Australian Deputy Prime Minister and Minister Richard Miles himself
joins me. Now, Hello Richard, and welcome to the program,
and welcome to New Zealand.

Speaker 20 (51:52):
Good afternoon, Andrew. It's great to be talking with you.

Speaker 3 (51:55):
So is this week we delayed our defense plan because
of the ICBM. How did Australia view China's use of
that missile?

Speaker 20 (52:03):
Well, I think what it tells us is that, well, firstly,
we are living in a world where which is much
less predictable, where there is much greater contest, strategic contest,
and that contest is playing out in the Pacific as well.
It's for those of us who are living in the
Pacific as well as our neighbors, the Pacific island countries.

(52:25):
We're not immune from the strategic contest which we're seeing
throughout the endo Pacific. And I think the tests of
the ICBM by China is a perfect example of that,
but it's not the only example, and it really does
remind us that what this requires is a rethinking and

(52:46):
certainly we've been going through this process. I know New
Zealand is now going through itself about what our strategic
challenges are and therefore what kind of a defense force
we need to meet those challenges, and therefore what we
need to build in the few.

Speaker 3 (53:00):
While also trading with China, who is, for both about countries,
one of our biggest trading partners.

Speaker 20 (53:07):
And that's true, and China is Australia's largest trading partner.
It's obviously a very large trading partner for New Zealand
as well, and so you know, it's a complex relationship.
It's a difficult relationship with China. I mean to be clear,
we want the most productive relationship we can have with
China and a key part of what we've sought to
do since coming to power back in twenty twenty two

(53:30):
is to try and stabilize our relationship with China and
we've seen the fruits of that with much greater dialogue
at a ministerial level. We've seen the reinstitution of the
better part of twenty billion dollars of trade between China
and Australia. But at the same time, you know there
are significant security anxieties with China, and so we've just

(53:50):
got to manage all of that, I mean. And so
in that sense we talk about working with China where
we can, disagreeing with China where we must. And that's
the challenge that we face. Nothing here is obvious, the
way through is complicated, but one thing is clear. This
is a time to be doubling down with friends. So

(54:12):
many of our countries in the region face the same challenges,
but for Australia and New Zealand, you know, there are
no two countries as close to each other as Australia.
In New Zealand, this is the time to be doubling
down in our relationship.

Speaker 3 (54:22):
And we need to be clear with China that we
want peace, but we also need to be clear that
they can't take advantage of our smaller South Pacific nations
and therefore we have a responsibility to be able to
protect our brothers and sisters throughout the Pacific and so on.
That New Zealand spends one point one seven percent of
GDP on defense. You, on the other hand, spend one
point nine percent. There's the old rule of thumb that

(54:45):
two percent is the optimum level. Would you, in an
ideal world like to see New Zealand spending more money
on its defense capability so that you and I we
can actually defend our patch better.

Speaker 20 (54:57):
Well, the last thing I'm going to do is give
advice the New Zealand government about how it allocates its budget.
From our point of view, we're at about too now,
and we're growing our defense budget to two point three
to two point four over the course of the decade,
and that does reflect a much more challenging strategic landscape

(55:18):
in our view, and so we are dramatically increasing our
military capability. I mean to put that into dollars, that's
about an additional five billion Australian dollars in over the
next four years, about an additional fifty billion Australian dollars
over the next decade in terms of our defense budget.

(55:39):
And those represent as significant increases in peace time in
our defense spending really since the end of the Second
World War. So that gives you a sense of the
strategic landscape that we observe and that we are responding to.
I think what we will be talking to New Zealand
about during the course of today tomorrow is really making

(56:00):
sure that whatever either of us are spending on defense,
we need to be maximizing that spend through a much
greater coordination between our two countries. And we've actually done
so much in the last year or two in relation
to that, and so the real opportunity not just in
terms of how much we spend, but the quality of
that spend is where we can get so much value

(56:22):
through the very strong relationship that our two countries have.

Speaker 3 (56:25):
So in terms of that cooperation, August Pillar two do
you want us to join that?

Speaker 11 (56:30):
Well?

Speaker 20 (56:31):
August Aucus is a technology sharing arrangement. Obviously, August Pilla
one is particularly around Australia acquiring a submarine capability or
a particular submarine capability. But Pillar two is about looking
at new innovative technologies in the defense space. We are
consulting with a number of countries, including New Zealand, exploring

(56:55):
opportunities where on a project by project basis there might
be an ability for us to work together. None of
this is going to happen tomorrow, it's it's but over
the longer term. Clearly New Zealand has capability, and clearly
New Zealand is a country with whom we have great

(57:15):
strategic trust.

Speaker 3 (57:16):
But do we need Aucust Pillar two to be able
to work together with you? In other words, is our
current information and technology sharing arrangements not up to par No, I.

Speaker 20 (57:29):
Wouldn't put it in those terms at all. I mean,
there's nothing about Aucust Pillar two which becomes conditional in
the context of our relationship. We want to be as
close to New Zealand as we can possibly be, whatever
happens in terms of working on particular projects in relation
to August Pillar two. And in fact, if you look
at what we've been doing, you know, over the course

(57:50):
of the last twelve months, we've seen dramatic increases in
the way in which our two countries have cooperated around
you know, military planning, for example, looking at how we
can better kind of get bang for our buck in
terms of our procurement spend. We're looking at every opportunity
to create a more ANZAC feel, if you like, in

(58:13):
terms of the way in which how to defense forces operate.
And that, as I say, goes back to maximizing what
both of our countries are spending on defense, the quality
of that spend, and reflecting the fact that our two
countries have complete trust like it's our closest relationship, it
is for New Zealand as well, it makes sense for

(58:33):
us to be working as closely together as we can be.

Speaker 3 (58:35):
Well, let's talk about relationships, because obviously the Australian Labor
Party is clearly convinced that UCUS is a good idea.
And yet the New Zealand Labor Party voted last weekend
that it would not join August. They went further than that,
they said they would exit Aucust if New Zealand were
to join and they ever become the government. Again, should
you be talking to your brothers across the Tasman about

(58:56):
a bipartisan agreement.

Speaker 20 (58:58):
Well, obviously what the New Zealand Labor Party says and
does is a matter for it from our point of view.
In terms of the pillar one, which is around Australia
acquiring a particular submarine capability that is clearly specific to Australia,
the idea of Australia and New Zealand working together in

(59:21):
terms of new technologies is not a particularly new idea.
It really is just exploring what opportunities there might be
on a project by project basis going forward. As I say,
none of this is happening tomorrow. We're very much in
an exploratory phase. We're not just talking to New Zealand,
but we're also talking with Canada, Japan, Korea. And you

(59:45):
can see what we're looking at is countries that have
capability that they had technological expertise, but countries with whom
our selves in the United States and the United Kingdom
shared deep strategic trust. And it's really no, no more
complicated than that.

Speaker 3 (01:00:01):
Richard, I trust you have a very fruitful meeting tomorrow.
Thank you so much for coming over and thank you
for your time today. That is Richard Miles, Australian Deputy
Prime Minister and Defense Minister. And of course the summit happens,
the high level talks happens tomorrow. It is thirteen to six.
The huddle is next with Nick Leggett and Tim Wilson
take through. While that Australian was so impressive, so unpolitical,

(01:00:24):
yes he was so extraordinarily diplomatic, yes he was. But
what we did get out of there is that August
two is a whole series of projects on all sorts
of levels of technology and everything, which is more than
we've had before. So I think Richard is now eleven
to six.

Speaker 1 (01:00:39):
The Huddle with New Zealand Southerby's International Realty, local and
global exposure like no other.

Speaker 3 (01:00:45):
Nick Leggett from Infrastructure New Zealand and Tim Wilson from
the Maximine Institute, Welcome to the program, gentlemen, good evening,
Hello Nick Leggett, the bank of Mum and Dad. Are
you one or did you use one?

Speaker 2 (01:00:59):
Well?

Speaker 21 (01:01:00):
Probably a bit like Tim, my kids are a bit
young at this point, but yeah, like I actually I
bought a house with my parents jointly when I was
in my late twenties, and it was it had a
tenant in it for three or four years, and then
I brought them out and I moved into it. So
that if that's you know, I didn't borrow any money

(01:01:21):
from them, but we bought something jointly and that helped
me get into the housing market. And yes, I would
do it for my children because I'm a view I'm
of the view that a property owning democracy is what
New Zealand should continue to aim for. We should also
develop other types of houses, of course, because not everybody, Yeah,

(01:01:42):
everybody cann in a house.

Speaker 6 (01:01:43):
Those who choose to should be able to.

Speaker 3 (01:01:45):
But when the bank of Mom and Dad ended up
taking over sixty five percent of all the property transactions,
you know, it's a very unbalanced economy, don't you think totally?

Speaker 2 (01:01:54):
That's right?

Speaker 21 (01:01:54):
And the question is how do we get how do
we get to a balance point where we you know,
people can can get into the housing market themselves, that
their incomes, can you know, in some way give them
an ability to service a mortgage without resorting to to
the bank of mom and Dad.

Speaker 22 (01:02:13):
It's an affordability It's an affordability issue, isn't it. I
mean that's that that's check key here. We actually at
maxim we've just produced a research paper on this. Free
we need to free up the land that we have
to actually and lower the expensive building. And one thing
that happens in Houston is they let streets determine their
own zoning, so you just take a vote's like what
the density like, and there's much there's much more flexibility

(01:02:36):
within the unitary plan. We don't have that. We've got
to blow away some of this some of this administrative
hurdles that contribute to the high cost of housing.

Speaker 3 (01:02:44):
Well, that's what mister Seymore is doing. Is is that
is that what his new Bureau of Regulatory Reform is
going to be or whatever he's calling in the ministry.

Speaker 22 (01:02:52):
I'm not aware, but I'd be more than happy to
remit the paper to him.

Speaker 21 (01:02:56):
Yeah, this should I mean this, this what we're talking
about here is more go to be covered in the
reforms to the Resource Management Act. So this is about,
you know, the sort of central control of district plans
for councils. We do require regional deals that the government
is talking about are going to be really important here

(01:03:17):
because they could partnerships between local and central government really
unlock these big areas of land funder the infrastructure, both
under the ground and above the ground, have good links,
transport links, and critically move them quickly so you don't
have these massive upticks in value that effectively shut people out.

Speaker 22 (01:03:38):
And also, if it all works, I won't have to
buy the kids any houses. Four boys, four houses.

Speaker 2 (01:03:43):
Forget about it.

Speaker 5 (01:03:44):
They're not getting it.

Speaker 3 (01:03:46):
Yes in Auckland, for goodness, say of course, yeah, and
Tim should have thought about that earlier. If any think
we might have actually told you that earlier, Tim, are
you sure you're happy with all this? That's a lot
of kids. That's a lot of nonsense, nonsense.

Speaker 22 (01:03:57):
It's not even a large Protestant family much less.

Speaker 3 (01:04:00):
That's one good stuff. Have you guys done your wrap?
Your Spotify rapped? If so, we'll find out after the
break red or.

Speaker 1 (01:04:07):
Blue, Trump or Harris who will win the battleground states?
The latest on the US election. It's Heather Duplicy Allan
drive with one New Zealand let's get connected youth talks.

Speaker 2 (01:04:17):
It'd be the Huddle with.

Speaker 1 (01:04:21):
New Zealand Southeby's International Realty elevate the marketing of your home.

Speaker 3 (01:04:26):
All right, Nick Leggett and Tim Wilson, have you got
your Spotify rap lists? Yes, gentlemen, Yes, yes, yes, good good.
Who's that? That's Nick?

Speaker 2 (01:04:35):
Tim?

Speaker 3 (01:04:35):
You've got a musician in the family. What's yours?

Speaker 2 (01:04:38):
Yeah?

Speaker 22 (01:04:39):
Well, actually I did have a musician in the family.
What might go to has been David allen Co's you
don't have to call me Darlin Darlin, which is the
probably the quintessential country and Western song because it's got
a verse that'scut that goes I was drunk the day
my mom got out of Prison.

Speaker 3 (01:05:00):
That's a beautif a film. There's a bit of us song.
But because your partner does sort of a lot more transcendentdent,
semi slow slow tun dance stuff, doesn't she triplep?

Speaker 22 (01:05:11):
Well no, no, Rachel, Rachel actually does some some wonderful,
wonderful songs are Rachel Wilson. Yeah, in my name, look
it up on Spotify.

Speaker 3 (01:05:18):
Ha, there we go. And Nick, do I believe that
you don't have a Spotify rapped?

Speaker 11 (01:05:24):
That's exactly right.

Speaker 9 (01:05:25):
I don't.

Speaker 6 (01:05:26):
My wife does.

Speaker 3 (01:05:27):
I listened to use it.

Speaker 21 (01:05:29):
It's because I don't want people knowing what I listened to.
But I did nominate a song that if I did
have one, it would have print up at the top
because we have a three year old who loved it.

Speaker 3 (01:05:38):
Oh okay, and there it is. Look at that magic. Gentlemen,
thank you so much for your time today. All the best.
Make Leggan's favorite song three minutes to six. It stood
to come from Terror is a ten dollars farm gate farmers.

(01:06:00):
That's right, because the global darry trade auction has been bred.
Why we'll talk to Andrew Murray, who's the CFO from Fonterra.
I'll tell you what my number one song is, and
we'll go through Chris Luxon's Spotify as well and find
out what deep, dark psychological secrets look inside there.

Speaker 23 (01:06:17):
News's next, what's down?

Speaker 2 (01:06:50):
What will the major calls? And how will it affect
the economy.

Speaker 1 (01:06:53):
Of the big business questions on the Business Hour with
Andrew Dickens and my hr on.

Speaker 3 (01:07:01):
That's welcome program. You can text me on ninety two
ninety two. My name is Andrew Dickins. Hither do per see?
Allan will be back in the hot seat tomorrow and
I won't. I'll be doing a breakfast show on a
radio station called Gold. It's on one oh five point
four I FM and Orkham. Please listen all right, it
is now seven minutes after Sex. This is the Business Hour.
We will be talking the Auckland Airport shares. The issue
yesterday one point three billion that went to the Auckland

(01:07:22):
Council and despite the high volume of shares that sold,
the Indiex had its biggest fall of the year. So
Liam Dan will talk about this shortly. But first, the
dairy farmers are happy. The milk price has cracked double digits.
Fonterra has raised its forecast farm gate milk price by
fifty cents to a mid point of ten dollars, and

(01:07:43):
that is the second rise in less than a month,
and the company says it's due to strong demand from
China and Southeast Asia. Andrew Murray is Fonterra's chief financial officer.
He knows the money, he knows the figures, and he
joins right now, Hello Andrew, good evening, How are you good?
I would say the farmers are very good too, aren't they.

Speaker 8 (01:08:03):
Yeah, yeah, that's certainly. The feedback that we've had early
on is ye's very positive from the farmer beef.

Speaker 3 (01:08:09):
The Campidy says is due to strong demand from China
and Southeast Asia. Now, please come on. About eighteen months ago,
the fact the GDT, the global dairy trade auction figures
were going down and people were saying the Chinese economy
appears to be tanking. This is looking bad and there
were lots of warnings for farmers. So can you please
explain to me how come China, who have still not recovered,
are actually driving this grace?

Speaker 8 (01:08:31):
Yeah, I think that the core behind it, actually, I
would see is the is the domestic production. And so
last year there was quite a lot of domestic production
in China that got turned into milk Podo and so
there was a lot of inventory around that has been exhausted.
They've rebalanced the heads domestically within China and so we're
seeing that demand come back pretty strong. And then the

(01:08:52):
other side, of course, is just that you know, US
production is very flat, European production is done, so the
demand and imports is pretty good from our perspective, and
we've had a strong start to the season as well.

Speaker 3 (01:09:04):
Well, there is good news. What about Southeast Asia? What
what would win?

Speaker 8 (01:09:07):
So well there, Oh, it's actually pretty across the board,
to be honest, there's nothing specific. It's it's in line
with how it's been for at least the past twelve
to eighteen months. So it continues to be a strong
market for US. You see that, you know, if you
if you look a little bit into GDT and you'll
see China's definitely stronger in the last in the last
few auctions. So as we get as we really push

(01:09:29):
up that, you know in the milk price, FEA does
tend to bond off a little bit. They don't tend
to play quite as much in terms of high prices
as the China bios do and we're seeing that play
out a little bit.

Speaker 3 (01:09:41):
Lare Okay, it's not all good news. Better? What's wrong
with Better? There's some five point two percent. And the
other one is Mozzarella, which has been going down at
big time. It's on four point five to one auction
and six point six last night. What's that happening there?

Speaker 8 (01:09:54):
Yeah, Look, we've we've to be honest, we've been waiting
for a little bit of that reversion to happen. So
you know that that's the stream returns turning back a
little bit normal. So certainly when you look at that
again compared to what's happening in Europe and US, we've
been expecting them to come off a little bit. So yeah,
that that's something that we've been waiting on, probably for
a few months.

Speaker 18 (01:10:13):
Done.

Speaker 3 (01:10:13):
Well, you're getting rid of you know, your value added brands,
you know, the mainland and the anchor and stuff like that.
Would there ever be a day where you just said
to Mozzarella, I'm sorry, your day is done?

Speaker 8 (01:10:23):
Oh yeah, I don't know if we're in that space.

Speaker 3 (01:10:26):
Okay, that's well, that's good news. And here's the other
thing that I find interesting. You are going to raise
the farm gate price. But your profit for the first
quarter is actually down like thirty percent. So that's two
hundred and sixty three down from three hundred and forty
six millions. So how come you're paying your you know,
your shareholders more and yet your profit's gone down.

Speaker 8 (01:10:46):
Yeah. Look, I think the key in this one is,
you know, our profit was still really strong for the quarter.
If you're compared to that quarter last year, we probably
had a milk price that was you know, over two
dollars less than it is now and so obviously you
know that you'll see that come through in the actual
profit result. But still a very strong quarter for us,
and you see actually from a margin perspective, better than

(01:11:06):
than Q four last year. So we actually feel really
good about the quarter numbers that they're in a good space.
But you know, the key is that we've got a
very strong balance sheep with what hard over the last
few years to get ourselves into a really good shape.
You know, if I look at these changes, you know,
the milk price going up, et cetera. I mean that's
that's you know, a good few hundred million that's going
into the farmer's pockets in January above what we expected.

(01:11:30):
But the strength of the balance sheet is really alone
is to do that.

Speaker 3 (01:11:33):
True, and you also have costs as you change your
business model, so that might affect things in the in
the short to medium.

Speaker 8 (01:11:40):
Oh yeah, look, we've got that well planned. And you
know we've rear from our guidance for the year in
that forty to sixty sense pushyeer range. That's that's largely
in language last year. So yeah, we're feeling okay in
terms of how we're playing out for the rest of
the year.

Speaker 3 (01:11:54):
All we have to say now is congratulations, are a
good result and none may they continue?

Speaker 8 (01:11:58):
Yes, indeed, so thank you.

Speaker 3 (01:12:00):
That is Andrew Murray. He is Fonterra's chief financial officer. Yes,
he is from Glasgow. Have you noticed how many immigrants
that we have in very major jobs around the place
because they come here, they've got the skills, they've chosen us.
He's working there. I'll tell you another that's just been
announced today. Wellington councilors have selected the boss of an
English council to be the new chief executive for Wellington.

(01:12:23):
His name is Matt Prosser. He's Chief executive of the
Dorset Council. And will replace Barbara Macero who steps down
in March. And hopefully he knows all about water leaks
because he's got to deal with an awful lot of them.
Congratulations Matt Prosser for leaving your home and choosing to
make us your home and trying to make us better.
It is a thirteen after six big day in the

(01:12:44):
share market yesterday, particularly for Auckland Council. They've sold their
shares in the International Airport that now becomes a future
fund worth one point three billion dollars. But wouldn't you
know it, despite such a big day on the share market,
it was our worst day of the year, the indexes
worst out of the yes why Liam Dan is here.

Speaker 1 (01:13:01):
Next analysis from the experts, bringing you everything you need
to know on the US election. It's The Business Hour
with Heather Duplicy, Allen and my Hr. The HR Solution
for busy SMEs, used talks it be. If it's to
do with money, it matters to you. The Business Hour
with Andrew Dickens and my Hr The HR Solution for

(01:13:24):
Busy SMS on US Talk ZB.

Speaker 3 (01:13:28):
So I'd like to welcome into the studio Liam Dan Andrew. There,
we are new Zealand held Business Editor at Large. And
so the big news yesterday was that Auckland Council sold
it's staken in the airport for about one point three
million dollars. I'm quite happy with that because that was
twenty cents over an estimate. But there we go. Now
the money is going to be used for the augand
Future fund. So let's talk Liam about this money and

(01:13:49):
let's talk about how it's now going to be used.
Because the councilor's got this fund to inure itself against
future shocks, et cetera. It has to do something with
the money. What's going to happen to the money.

Speaker 24 (01:14:00):
So from an investment point of view, it makes sense.
When why would you have all your money in one
stock effectively, well not all your money, but you know
a big chunk of that money in one stock.

Speaker 9 (01:14:09):
You don't do that.

Speaker 24 (01:14:09):
You have a fund with a whole range of stocks
and you probably, you don't know, stick with.

Speaker 11 (01:14:14):
The nz X.

Speaker 24 (01:14:15):
You're probably going to head offshore and go to the
most lucrative markets and try and get a better, more
stable return because you know you're vulnerable with one stock.
So it makes sense, but it kind of felt to
me like the end of a little bit of a
sorry saga. I've been covering the Council's efforts to get
out of, or not out of sell these airport shares

(01:14:37):
since about two thousand and two. I think I could
find the Herald talking about it since nineteen ninety nine.
So there's been various times where there's been big interests
from overseas players ninety nine, two thousand and seven where
the Council could have shot sold what was a strategic stake,
like almost a controlling stake above twenty percent for a premium,

(01:14:57):
and then they could have gone and used the money
where to generate more return.

Speaker 3 (01:15:02):
But so if you're saying they could have made more
if they sold earlier.

Speaker 24 (01:15:07):
Yeah, I think what held the whole thing up, obviously
in a democratic process, is there was a debate for
a long time which has been lost by the state
ownership people really about whether we should strategically have a
controlling stake in our own airport, whether we need to
as a council or a government own these assets. And
you know, look that there may be some arguments, but

(01:15:28):
clearly it's been lost. And so what's what's happened is
that we've ended up selling in bits and pieces, selling down,
not taking up the capital, the capital raising the share
issue during COVID which moved them below twenty percent. You
lose a premium below twenty percent. Basically, if you want
to sell more than twenty percent, you can get a
very good price if there's a big international buyer looking

(01:15:51):
to do a takeover. But you know they've done it right,
they've sold on market. They've done a right with this transaction.
But if you look back over twenty five years, maybe
they could have been in a bit more financially savvy.

Speaker 3 (01:16:01):
And there's also been argibagi about the Future Fund amongst
the councilors themselves. This is wayde Brown's big idea, you know,
just to try and free up capital, because he's seen
he's had to do all the stuff after the storms,
he's had to do all every now and then you
get a shock, and when you get a shock, you
have to pay for it, and then you head up
the rate payers. And he doesn't want to do that anymore.
So so now we're going to have debate about what

(01:16:22):
to do with the one point three billion, how much
of it to keep liquid, how much of it to
stick away another invest ethical.

Speaker 7 (01:16:28):
To be.

Speaker 24 (01:16:30):
Going to get a straight into tobacco stocks because they're
making good money.

Speaker 3 (01:16:33):
Or you said as soon as you said, they'll go
for an overseas market. But you know, so it is
on the council. Richard Hills invested in New Zealand company.

Speaker 24 (01:16:42):
How much political obligation do they have to do all that?
But really, if it becomes like a you know, we've
got a good model and the n z's super fund,
which is is trying to be sort of ethical ish.
You know, I think they're still in oil stocks, but
they've got out of you know, they're not in guns
and all that, all that sort of stuff. You know,
so ethical ish, and really, you know, at this point

(01:17:04):
you're going, well, this fund is meant to maximize the
return for rate payers, and so I guess they've got
a look at setting something up that can do as
well as that and of course return more than the
airport returns over the next few years.

Speaker 3 (01:17:18):
We need to minimize the dead rats that need to
be swallowed.

Speaker 9 (01:17:21):
You go.

Speaker 3 (01:17:22):
But here's and here's the thing that I talked about
last hour from my point of view, was that all
the money that went into to the Council's coffers came
out of stocks elsewhere in the market, so overall the
nz X dropped. It actually had its worst day, and
it just struck me that that shows you just how
few real hero stocks we have, and the brokers all

(01:17:44):
jumped through the for the newest thing. And while this
doesn't affect each of the companies, you know, it does
affect their ability to capitalize and do all sorts of thing.

Speaker 24 (01:17:51):
The airport's a useful thing if it's in a portfolio
because it's not going anywhere. It'll go up and down
with it. But you know, it's considered infrastructure stable investment,
not a huge returner. But it does reflect the fact
that the money's all been heading to Wall Street. I
mean those tech stocks, you know, the thing propping up
our KIV saber funds and it's I'm reading stuff. It

(01:18:11):
does worry a few commentators that, you know, by pouring
all that money into Wall Street, it just grows and
grows and grows. It's pretty highly valued already, so in
a funny sort of way, it's a bit of a
dilemma for them, really, whether they go for all those
highly valued stocks that have returned so much over the
past year.

Speaker 3 (01:18:27):
Yeah, well, like Nvidia, you know, that's a hero stock, absolutely,
but also some people are also going, well, it might
not be as much of a hero as you think,
and so if that's the case, then you've got to collapse,
so you know. But at the same time, what I'm
saying is in New Zealand, it would be great if
we had a few more hero stocks.

Speaker 24 (01:18:42):
I think that is I think that is a big
issue with our economy, the lack of a really large
financial sector. We don't have the banks, we don't have
you know, we have a fledgling tech sector but not
really listed, you know, so we don't have a great
representation of the economy on our sheer market. We haven't
for a while. And it's just got so much easier

(01:19:03):
for that. All the young people coming into stocks and
shears which is great on shears's and whatnot. Now they
can just go around the world and so.

Speaker 3 (01:19:09):
You know, you know where the money is. The money
is in our houses.

Speaker 24 (01:19:12):
That is right, And that's a whole other conversation.

Speaker 3 (01:19:15):
Good stuff, Thank you so much. Liam.

Speaker 2 (01:19:18):
The Rural Report on hither do for see Alan Drive.

Speaker 3 (01:19:22):
Jerry McKay from the Country, Hello, how are you mate. Oh,
I have to push a button.

Speaker 2 (01:19:27):
Hold on.

Speaker 3 (01:19:27):
I thought you were on WhatsApp. No, of course not,
you're on a phone.

Speaker 13 (01:19:30):
Hello Jamie, Hello Andrew, Take two.

Speaker 9 (01:19:34):
Take two.

Speaker 3 (01:19:34):
How was the Emerson's golf opened at the Otago Golf
Club last week?

Speaker 13 (01:19:38):
It was wonderful, Thank you. Wonderful but a controversy with
the winning team, but other than that a great day.

Speaker 3 (01:19:44):
Did you win again?

Speaker 13 (01:19:46):
No, no, no, no, no golf and I will golf
and winning and myself are kind of mutually exclusive.

Speaker 3 (01:19:51):
Andrew, Yeah, okay, well good, well, look, come and play
golf in the other island from time to time and
then you'll find out. Now, the big story is for
tear a ten dollars milk price despite a thirty percent
drop in profit. But the farm gate's good.

Speaker 13 (01:20:05):
Yeah, I look, and I heard most of your interview.
Will you chat with Andrew Murray the CFO or the
new CFO. Look, I no surprise that the profit's down
a way that when the milk price goes up, the
ingredients are more expensive. But look, this is a cooperative.
It's owned by the farmers. The most important number, by
the length of the straight is the milk price. Ten dollars.

(01:20:27):
It's a new record. I've never been in double digits
before Eclipse is the previous record of nine dollars thirty
in the twenty one to twenty two season. But to
be honest, before everyone thinks the dairy farmers are going
to get rich and that's fleece them or do whatever.
In real terms, probably the best payout, and it was,
would be twenty thirteen fourteen eight dollars forty. That's a

(01:20:48):
decade ago. Since then we've had horrendous on farm inflation.
So ten dollars, make no mistake about it. There's a
great number. And if you're not making money at ten dollars, Andrew,
you shouldn't be milking cow.

Speaker 3 (01:21:00):
Okay, yeah, exactly. And I have to say I'd been
getting a bit depressed about things because of the price
it was tracking down, and then you heard that the
Chinese economy was tracking down and thought none of us
is good. But as it turns out, they didn't actually
maintain their domestic production and so we had to step
in to help them out. So that is good, and
so everything is good in the end. That's a good thing.

Speaker 13 (01:21:21):
Yeah, absolutely.

Speaker 3 (01:21:22):
Now what's a bad thing is we've had fewer lambs
this spring. How come?

Speaker 13 (01:21:26):
Oh gee, well, where do I start trees? Pine trees
in the weather might be one reason. So Beef and
Lamb New Zealand have just put out their estimates and
this is a forecast only at this stage for the
lambing of twenty twenty four, and they're saying we were
expecting a decrease in the number of lambs tailed or dock,

(01:21:46):
depending on which island you're in, by one point one
million head or five or five point two percent, which
is a substantial drop really, bringing the total lamb crop
to an estimated nineteen point two million. Now, you've got
to remember Andrew in the early nineteen eighties when Muldoon
was running rifle with us with his subsidies, and that
we had seventeen million sheep in this country. Nowadays we

(01:22:09):
only have about twenty three to twenty four million, and
our lamb crop is nineteen point two million. A number
of lambs available for export is even worse. It's down
six point five percent for the whole season. But the
good news is supply and demand, less lambs more demand. Effectively,

(01:22:30):
early season farm gate prices for sheep meat have been
quite a bit higher than last year. They're sitting on
about eight bucks at the moment, which is good, could
be better. They really need ten dollars and of course
cattle prices remain strong there a record as well. So
look all in all, Andrew farmers heading into Christmas apart
from the weather and you can't do anything about that

(01:22:51):
would have to be reasonably happy.

Speaker 3 (01:22:52):
Good stuff. Joey McKay for the Country The Country dot
co dot m Z and it is now six twenty eight,
so we've got some views on the way. Next we'll
be talking to Barney Irvine about the much needed entergy
reform that we really need in this country, and the
Brady will be joining us as well, and with a
bit of luck, we'll have Christopher Lux and Spotify rapped
list what music does our Prime Minister listen to? And

(01:23:15):
the last song will be my number one.

Speaker 1 (01:23:19):
Man quaching the numbers and getting the results. It's Andrew
Dickens with the Business Hour thanks to my HR the
HR Solution for Busy s Emmy's on news Talk Zippy.

Speaker 2 (01:23:34):
Today.

Speaker 3 (01:23:36):
I want you, I need you, hold God, dude.

Speaker 16 (01:23:41):
Take.

Speaker 2 (01:23:43):
The thing that I've got.

Speaker 3 (01:24:03):
Ladies and gentlemen, I present the new Zealand's most listened
to song on Spotify over the past year. And he's
a somewhat over fort twenty two year old man from Monroe,
Washington by the name of Benson Boom who gets quite
excited about beautiful things. But it's a good song. Guess what?
Guess what? Yes, he was a contestant in American niol

(01:24:25):
Did he win? You know? He actually withdrew voluntarily, that's right.
He competed for a bit and then he pulled out.
But obviously he's got the number one song on New Zealand.
You wonder whether he walks around Munroe, Washington going, hey,
guess what I the most listened to thing in New Zealand.

(01:24:49):
I will down to thank you, thank you very much.
I will run through Christopher Lackson's rapped list of Spotify songs.
What songs did he listen to in twenty twenty four?
All right, now, there's a call for urgent energy reform
to avoid New Zealand's d industrialization. The Northern Infrastructure Forum,
together with the Auckland Business Chamber, hosted an event I

(01:25:11):
think was today to come up with some solutions to
the huge cost of energy that is hurting Business and
Barney Irvine. Barnie Irvine is the executive director at the
Northern Infrastructure Forum and joins me. Now, hello, Barnie good Eden.
What do you mean by New zealand'sd industrialization.

Speaker 11 (01:25:31):
Well, what it refers to is the fact that, I
mean we're currently in a situation where where there's such
a supply demand and balance and that as soon as
the demand ramps up, the inevitable response is that we
require businesses to reduce their demand to suppress demand, so

(01:25:54):
that there they're doing less of what they do, or
businesses are facing such high costs for energy that is
in the case of og, fiber Solutions and others, they're
shutting their doors and so it's it's and this comes
an enormous cost.

Speaker 3 (01:26:15):
Yes, And as you say, it's supply and demand. And
when you know the supply is not enough and the
demands up there and the price goes up, it drives,
It puts businesses out of business. So the question there economics,
of course it is. So the question is how are
we going to make the energy more affordable? So how
are we going to make the energy more affordable?

Speaker 11 (01:26:35):
Yeah, well we we So we had about sixty sector
leaders with us yesterday from from a right across the right,
across the sector generators, retailers, transmission companies and and and
investors and so obviously there's a lot of talk about
the challenges the problems facing the sector, but big focus

(01:26:57):
on solutions and so some of the themes that came
through really clearly there where Okay, well, we we obviously
really need to increase the security of supply. The need
security supply through much more generation from renewables. There has
to be the long term sort of objective, so we're
not relying so heavily on hydro generation for both the

(01:27:22):
base load and the peak. We can rely on hydro okay, so.

Speaker 3 (01:27:26):
Geo, thermal, geothermal, solar offshore and on shore. When that's
the renewables, we've got the.

Speaker 12 (01:27:31):
Hydro exitro, yes, our hydro sort of we rely on
hydro to function as a battery to deliver that that
to respond to the peak because if we're not, if
we're not sort of putting such a.

Speaker 11 (01:27:45):
Load on on on hydro, it can perform that function.

Speaker 3 (01:27:50):
Really rely but hold of money, you do actually say that,
but you do realize this is the week that a
solar company went bust.

Speaker 11 (01:27:59):
Right, and so we would be relying just on solar
wind as well geo thermal and and much more of
all of us well.

Speaker 3 (01:28:09):
Plus And I understand what you're saying, but is it
just is it? Is it? Is it a dream actualization?

Speaker 9 (01:28:16):
Really?

Speaker 3 (01:28:16):
You know, when we're having so many difficulties with solar
where we have a limitation on geo thermal and where
we have to spend an awful lot of money to
stick there, to stick the the the ones in the
in the in the air, to pick up the wind,
you know, is this is this something that we could
dream for? Is it actually achievable?

Speaker 11 (01:28:35):
Oh, it's certainly the view of the group of those
gathered with us. Yes it is achievable. But the point
is it has to be we have to come up
with solutions for this because what we're dealing with at
the moment just just you know, just just isn't sustainable.
And yeah, that's right. And so look in terms of

(01:28:56):
some of those initiatives, we need to we need to
get more new entrants coming into into the market. So
there's some obvious tools we can use there in terms
of that. The way pricing contracts are structured, there are
some some obvious opportunities there in detail of those that
we need much better stewardship leadership of the sector.

Speaker 3 (01:29:18):
Can ask your questions here we go. You want a
single regulator?

Speaker 11 (01:29:23):
Why to have a clear leadership of the of the sector.
At the moment it's disaggregated across a range of agencies
and there just isn't clear leadership. We need a single
agency with accountability.

Speaker 3 (01:29:38):
You want to develop it, yes, and that's good, a.

Speaker 11 (01:29:41):
Proper, proper plan for the sector. And look at that.
The last point, really critically is that there has to
be some sort of of market reform. And that's getting
to that. You know, the gent tailor structure. There needs
to be some sort of separation of that generate in
retail function. Now that could be that could be a

(01:30:03):
structural separation along the lines of telcos, or it could
be operational, you know, sort of keeping those companies the
same company. But that's separating out those functions. And and look,
even the oec D is starting to say that make
the same sort of commentary about what needs of.

Speaker 3 (01:30:23):
Course, of course, and we'll be saying this for a while.
And what we've wondered is, you know, there's no plans
for for for hydro, there is no plan or there's
some plans for renewables, but there hasn't been enough from
a number of administrations of all sides. Do you really
just want New Zealand Inc. To start taking electricity generation
a lot more seriously?

Speaker 11 (01:30:43):
Well, yeah, absolutely, that's that's it in a nutshell. That
the you know, the really strong sentiment in the room
yesterday at the event was what we have to act now.
We cannot just hope at the moment. This is how
it was praying use today. At the moment, we're relying
on a hope strategy right and and hope just isn't
going to get us there. We need some definitive action.

(01:31:05):
We need change, and we need it now or else
we're going to keep lurching from crisis to crisis, and
exactly as Minister Jones said, we're going to slide into
the industrialization.

Speaker 3 (01:31:18):
Good stuff, Barnie. I thank you so much for your
time today. And it is now sixteen to one A
seven sixteen seven.

Speaker 1 (01:31:26):
Whether it's macro, micro or just playing economics, it's all
on the Business Hour with Andrew Dickens and my HR.
The HR solution for busy SMEs News talksp this.

Speaker 3 (01:31:37):
Is what you've been going for all day. Christopher Likes
and Spotify wrapped list. What did he listen to on Spotify?
Can I just say that we are an iHeart Radio station,
and iHeart Radio is very good at providing all the
music needs, particularly radio, and indeed I have iHeart Radio
and I use it to listen to radio and podcasts
from around the world. But he also has Spotify because
it's quite good for the old music, So don't judge us.

Speaker 9 (01:32:00):
Anyway.

Speaker 3 (01:32:00):
Let's get to Christopher Lucks and Prime Minister of New Zealand,
and I'll go first through his top artists, and this
has been revealed by Chris. He's proud of us. So
at number five, Tim McGraw, no surprises, you know, touched
of the down Home because remember where he used to work,
So timgraw. Then it gets very bland. The Ed's Hearing's
at number four, do a Leapers at number three, Classic disco,

(01:32:24):
Fleetwood Mac who doesn't like Fleetwood Mac. That's Christopher Likes's
number two artists, And at number one this is a
shocker post Malone. Now, yes, that has been pointed out
to me. The post Malone did a country album last time.
But I mean it was a bizarre thing. But I
would like to ask whether the Prime Minister of New
Zealand has actually looked at post Malone's face and seen

(01:32:46):
the tattoos and realize that's what he's listening to. Anyway,
that's surprising. So let's go into the songs and we'll
start off at number five.

Speaker 24 (01:32:55):
Let me tell you.

Speaker 11 (01:33:00):
Give him.

Speaker 3 (01:33:03):
Yes on a Friday night when he's getting a bit loose.
Christopher Luxan likes to get down with a little boo thang,
a little boot things. But this is a little boo bang.
Can you see him? Can you see you've seen it.
You've seen him and your mind's eye, you've seen him
and you've thought no. All right? Add number four. Now

(01:33:31):
I can see him dancing the night away, un buttoned
the suit jacket on the dance for let the shirt
hang out in all right. His wife will be dancing
all round him like she's dancing around the mountain. And
number three is Vienna. Now we don't know whether he's

(01:33:52):
it's the Ultravox song Vienna or something strange. I don't know,
you know, oh Vienna madeur? I don't know. Number two
Real Love Baby but here we go this Christopher Luxon's
most played song on Spotify.

Speaker 2 (01:34:04):
Feeling like someone.

Speaker 3 (01:34:06):
This makes sense.

Speaker 2 (01:34:08):
I'll be right. Shotgun sounds feeling like someone.

Speaker 3 (01:34:14):
This is this blake from Northern England, isn't it South
of the George George is He's from northern England. This
is Shotgun. It's a great album.

Speaker 8 (01:34:27):
Now I think he got to the Prime Minister riding
a horse with the cowboy head on, telling me that this.

Speaker 3 (01:34:33):
Oh great, All right, let's go over seas. Enda Brady
joins me. Now, hello Ender.

Speaker 5 (01:34:41):
Hey, Andrew, just chuckling along here in my kitchen in Oxfordshire.

Speaker 9 (01:34:44):
Very funny, all right.

Speaker 3 (01:34:47):
Now, master F Greg Wallace a man who's discovered that
he's actually in the twenty first century and is in
coping very well. What's up? What is the latest?

Speaker 5 (01:34:57):
More allegations today? This can going on now full seven
days of front page news here the Master Chef co host.
So the very latest is that the lady who ghost
wrote his biography for him, Life on a Plate, she
has come out today, breaking a non disclosure agreement because
she felt it was important, and she says that she's

(01:35:19):
accusing him of sexually harassing her while she was writing
the book, various different incidents, relentless talk about his sex
life and women girlfriends, and then she says that I'm
and he was wearing a bath robe, and she said
at one point then he dropped the bathrobe and said, oh,
my trousers are just behind you there, and she said

(01:35:42):
it just went on and on and on, and she
lost the plot. Had completely enough of this guy pinching her, bomb,
touching her leg. The allegations keep coming. Now he's denying
any inappropriate behavior whatsoever. But it's interesting that his Australian
co host, John Road, who is a very good chef,

(01:36:03):
he has now come out with a statement on Instagram.
A lot of contestants are saying, well hang on. John
Tiuroad witnessed all of this and we haven't heard a
word from him yet. He's come out and said that
he's been away filming Master Chef overseas this week. However
he finds it truly upsetting. That's the phrase of the
word used by his co host if any of the
people on Master Chef or people around them had an

(01:36:24):
awful experience, So the co host effectively throwing Wallace under
the bus.

Speaker 3 (01:36:28):
Yes, yeah, okay, let's move on to more positive things,
the possibility of David Bigan getting a knighthood.

Speaker 5 (01:36:36):
So the serious newspapers here today have been very well
point out that Beckham was invited to the reception the
other day, the state banquet for the Emir of Katar.
David attended with his wife Victoria, and they point out
this is the fifth occasion in a few months this
year that David has been at the beck and call
of the Royals, various different charitable functions, the King's Foundation,

(01:37:00):
lots of work, private dinner with the King. Apparently they
share a love of bee keeping of all things. I
would imagine King Charles would not know Manchester United from
Manchester City if I'm Frank.

Speaker 11 (01:37:12):
So they're not.

Speaker 5 (01:37:13):
Talking about soccer, but apparently they can.

Speaker 2 (01:37:17):
It's a football.

Speaker 5 (01:37:18):
Fan, famously an Aston Villa fan. There is a relationship
there as well, and the papers are pointing out that
you know what people are forgetting is that not that
many years ago there was a leaked email from Beckham
with lots of expletives in it, ranting about what does
he have to beeping do to get a knighthood? Well,
it appears do lots of charity work, turn up to

(01:37:40):
the functions beck and call no pun intended of the royals.
But don't be surprised if in the King's News Year's
Honors list it is a rise, Sir David.

Speaker 3 (01:37:49):
Yes, well, obviously the thing you had to do was
keep some bees. But yeah, when I think to the
Olympic campaign, when you've got the Olympics to London and
all that, he was frendon center of that whole thing,
and I think he does deserve it. He has been
a faithful servant of your country. Do we have enough
time to talk about the great Guinness drought of twenty
twenty four.

Speaker 5 (01:38:07):
Well, honestly, I don't know if this is a genius
marketing strategy to put out a press release and brief
the media that they might run out of Guinness this Christmas,
but that is apparently what's happening. Pubs in the UK
have been told to limit their orders, that there is
only so much to go around. Off the back of
the autumn rugby internationals heavily sponsored by Guinness, Guinness has
been everywhere. They're working with a lot of influencers. They reckon.

(01:38:30):
Guinness consumption in the last quarter is up twenty percent,
so there may well be a shortage of Guinness in
England this Christmas. Delighted to say I'm going back to
County Wexford in Ireland where we will live on it.
The rivers in Wexford pretty much run and the whole
country is powered by stout, so bring it on.

Speaker 3 (01:38:49):
Good stuff into Brady. I think you said about.

Speaker 2 (01:38:52):
Getting ready for a new administration in the US. What
will be the impact?

Speaker 1 (01:38:56):
It's the business now with hither duplicy Ellen my HR
the HR solution for busy SMS news Talk said be.

Speaker 3 (01:39:07):
Got a text saying did you just insinuate ender Brady
is English?

Speaker 2 (01:39:11):
Did I?

Speaker 3 (01:39:12):
Then the text has check your rubbishin for a bomb
before bed, which is quite funny. But he did admit
that he lives in Oxfordshire and that, as I last understood,
was in England.

Speaker 8 (01:39:22):
Right o.

Speaker 3 (01:39:23):
Spotify wrapped my list. This is shocking. This is my
top artist at number five, Taylor Swift. I don't know
how that happened. I'm sorry. I think it's because of
all the press. You know, so I had to have
a listen. I don't like the tortured poets very much.
I like folklore, but there we go at number four,
echoing the Bunnyman. I'm sorry, I was just being nostalgic

(01:39:48):
at number three, Billy Heilot who is very good, at
number two, Fat Freddy's Drop, whose new album Slow Mo
is awesome, and at number one New Order, and that's
because I was reading a book or about Peter. So
then we get to our songs at number five, Under
the Milky Way by the Church. Yeah, nostalgic sings and Arrows,
Fat Freddy's Daniel by Beth's Flashes at number three. Other

(01:40:09):
voices the cur at number two and number one, Billie
Eilish and Wildflower. Thank you for your company today and
the last couple of days. I'll see you later. Thank you,
Team Laura ant Heathers. Back tomorrow.

Speaker 1 (01:40:30):
For more from Hither Duplessye Alan Drive. Listen live to
news Talks it'd be from four pm weekdays, or follow
the podcast on iHeartRadio

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