Full Show Podcast: 05 March 2025

Episode Transcript
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Speaker 1 (00:03):
Digging through the spin spens to find the real story.
Or it's Ryan Bridge on Heather du for see Ellen
Drive with one New Zealand let's get connected and news talks.

Speaker 2 (00:13):
They'd be good afternoon seven after four coming up on
the program, Why has everyone been so secret squirrel about
Adrian Or? Will look at that? After five Todd McLay,
the Trade Minister. The big question for this trade war now,
of course, is how long does it last? The America's cup?
Is it really coming home? New talks under way? But
who pays for that? And I talked to Richard Prebble

(00:33):
at five point thirty five this evening he reckons the
White Tonguy Tribunal has been captured by socialists Ryan Bridge.
So Adrian Or is gone. And the Nicola Willis statement
said it all. Really there was one short, sharp line
from the Finance Minister this afternoon. I wish him well
for the future. That was it seven years running the

(00:54):
Central Bank and not so much as a thank you.
Not surprising given the history here, of course, there's been
no lost between these two. Williston want him to be
reappointed for his five year term. In the first place,
you might recall that she wrote a letter to Grant
Robertson saying pretty much exactly that, don't rehire this guy.
And Robertson, of course did, and at the time he

(01:16):
said it was important to have continuity in the role,
which we all know proved to be exactly what we
didn't need or opened the floodgates during COVID monetary policy
was loose money printing with gay abandon and then of
course the tide went out and we were all swimming naked.
Inflation was so bad that we literally couldn't afford togs.

(01:37):
He has copped a lot of flack over the years,
hasn't he. He was under the pump. I interviewed him
many times during that particularly tumultuous period on the Tally.
Viewers found him a bit smarmy, some said he was arrogant,
The opposition loathed him. And this is exactly why he
shouldn't have been reappointed, why Robertson got that so wrong.

(01:58):
Continuity is exactly what we didn't need. The argument is,
and it's a pretty convincing one. We shouldn't have let
the guy who helped start the fire and fan the
flames be the one to put the fire out. Perhaps
if somebody else were in charge, we'd have taken a
slower and lower ocr track like the Aussies, thereby avoiding

(02:19):
or at least softening the worst recession in thirty years.
He brought us back down to earth like a ton
of bricks. That is all hypothetical now, of course, it's
all shoulder. It's history, and from today so is Adrian
or Ryan Bridge. Nine after four. Our prisons are a
recruiting round for gangs. This is according to a new

(02:39):
report from the researcher doctor Jared Gilbert, which found the
top dog model of leadership in prisons has now shifted
and there are groups of gangs running our prisons. Non
gang members are put under pressure to join the gangs
because they obviously need protection, leading to calls for greatest
segregation amongst our prison population. Neil Beels is the Corrections

(03:00):
Deputy Director for Men's Prisons. Neil good afternoon, Good afternoon, Ryan.
Is it is it true to say that gangs are
running our prisons?

Speaker 3 (03:09):
No, it's not true, and I don't think that's what
the report says. The report says that they have an
assumed power in prison, and I think what is fair
and what I'll say, first and foremost is this is
actually a very good report and very helpful to us.
What is fair to recognize is that power gangs do
hold some power in prisons because of the very nature
of the things that they do, the violence they perpetuate,

(03:32):
the risks that they run, the contraband that they organize
to bring in, et cetera. This has always been thus,
it's been the case for decades. It isn't anything new
for us in terms of dealing with that kind of
behavior from gangs. So, but what we are seeing is
an increase, particularly by some of the newer gangs. We're
seeing an increase in the violence perpetuated and also just

(03:53):
the resources and the money that they have to carry
out some of their criminal activities.

Speaker 2 (03:58):
Yes, did that require, I mean for them to do that,
because they're doing drugs on the inside, They've got cell
phones on the inside. We've seeing them doing the common cheers,
doing hackers. They've managed to film that, get the footage
out on the outside. You say they're not running the place,
but they're clearly running a mark.

Speaker 3 (04:15):
They're not running a mark. Look, we have handfuls of
incidents in prisons all the time, right, that's the nature
of prisons. We deal with people who don't surprisingly just
start behaving themselves a minute they come through the door.
They want to carry on behaving in the way that
they do. We operate anywhere between thirty five and forty
percent of gang or gang members or gang affiliated people

(04:35):
in prison at any given time. We're currently operating in
our prison system about ten thousand, five hundred people. Ten
four hundred to five hundred people. That's an awful lot
of people. And when you look at the number of
incidents that we're dealing with, relatively few compared to what
we could be dealing with if we weren't doing the
things that we are doing very well, which again I

(04:57):
think is highlighted in the report here.

Speaker 2 (05:00):
What we what happens at the moment, What happens at
the moment with with gang members in terms of segregation,
like do you segregate them so that the gang members
who are all in one gang are together, or do
you segregate the rival gang members from each other? How
does it work?

Speaker 3 (05:15):
No, we don't. We don't have gang only units. That's
that's been proven through research elsewhere and looking at overseas
models that it's just not a good model. What we
tend to do is we we try and balance the
power out within units. So you might have a unit
fradenment sake, you're going to my old prison of Los
to run in Auckland, you know you're going there. You
might see on any given landing two or three Mongol Mob,

(05:38):
two or three Black Power, two or three tribesmen. And
then you try and keep that that that kind of
balance going. And as Jared reflects in his report, it's
kind of like the Cold War. You know, if there's
if there's a balance of power, then nobody can take control.

Speaker 2 (05:53):
Always We're sorry, sorry, continue.

Speaker 3 (05:55):
So that that doesn't always work. When when you are
dealing with the different security classifications, not all gang members
will be high security or maximum security. There will be
some in the lower security echelons as well. You've also
then got to think of those who are voluntarily segregated.
They may be under threat because of the type of
offense that they've committed. There may be in depth of

(06:16):
the gang members, there may be in fear of the
gang members. So the the kind of the ecosystem that
we deal with is not as simplistic and as easy
as what some people may think it is you know,
if you just lock them up, then you've solved the problem.
You haven't solved the problem. You're just you're probably just
ignoring the problem. Is if all you're doing is operating
a containment operation, because that will have a time of

(06:38):
it and eventually you will be dealing with other issues
as well.

Speaker 2 (06:40):
The sad part about all this is the civilians, or
what they call the neutrals, or in this report they
called sometimes peasants or bundies. These are just people who
aren't members of gangs and the bottom of the food chain.

Speaker 3 (06:53):
Yeah, and again, you know that's a sad nature of prison, right,
you know, you're dealing with criminal elements in prison, people
and people who will take advantage of those deemed to
be more vulnerable or weaker than others. And that's exactly
what we see gangs doing on the outside. Do you
think they do this in the communities they come from?

Speaker 2 (07:11):
Do you do drug testing? How many of our prison
population are on drugs?

Speaker 3 (07:16):
We do do drug testing. We do it for various reasons.
So we have random drug testing operations going on, so
we can you know, we can literally just press a
button on a machine and all tell us to go
and and randomly drug tests a percentage of our population
at any given time, and that's what gives us our percentage
get I'll get our team to send those figures on
too your ian if you want it hard. No, it's

(07:38):
come down a lot, and we see it fluctuate. It's
come down a little bit over recent years, but we
have seen peaks, particularly when we see if you look
at the Matthews last year, it was reported METTHEWS in
New Zealand. I'm not talking about prisons, and I'm talking
about New Zealand in general. Matthews double last year. So
what you see prison prisons are a microcosm of society.

(07:58):
So what happens on the side happens on the inside only.

Speaker 2 (08:03):
But yeah, but the point is you're in prison. You're
not meant to be able to get your hands on meth, right, so.

Speaker 3 (08:07):
Well clearly, and you're not. You're also not supposed to
be violent against other people, and you're not supposed to
intimidate other people. But these are criminal elements of our
society and they will do whatever they need to do.
So Ryan, imagine you're an officer and you get offered
thirty thousand dollars to bring a cell phone in. That
is what our staff are dealing with now. I mean

(08:28):
the common Ciro's and Mongols have got incredible resources. I was,
I've been at Rim Attack of Prison. You talk to
the talk to the general manager Rom Attack of Prison.
He will tell you these are the challenges that his
officers say.

Speaker 2 (08:40):
How do you stop how do you stop them accepting
the money?

Speaker 3 (08:43):
Well, it all comes down to good selection, good training,
and as Jared points out in his report, you know,
we need to make sure that we are learning and
have a We need to have an environment where staffield,
they can come safely and tell us look, I'm being
approached by these people disuppile to do and the vast
majority do. Let's make no jokes. Yeah, the vast majority
of our staff will stand up against this, report it

(09:03):
and we'll deal with it. But it is incessant. You know,
the gangs are pervasive. They have a deep reach in
our communities, they have a deep reachon of prisons. It's
a reality that we deal with every single day.

Speaker 2 (09:15):
All right, Neil, Neil, we have to leave it here, Neil,
but I appreciate you coming on the program. I'm fascinating
report to have a read of you can find it
on the HEROLD website. Actually, Neil Bill's who's been with
us from Corrections. He's the Corrections Deputy Commissioner for Men's Prisons.
Time is sixteen after four. The number is nine to
nine two. Would love to get your texts on this.
Darcy Waldegrave here next with for It's.

Speaker 1 (09:37):
The Heather Dubissie Allan Drive Full Show podcast on iHeartRadio
powered by News Talk zebby news Talks.

Speaker 2 (09:45):
Been nineteen after four. The trade war in full force.
You've got the Americans firing at Canada and Mexico and China,
and now Canada and Mexico firing back. Not quite sure
how Canada as say how Mexico will do that yet,
but Canada has certainly made its intentions clear anyway, Trump
speaking to longest today'sys. Don't worry.

Speaker 4 (10:01):
Everything's fine, sir, about making America rich again and making
America great again. And it's happening, and it will happen
rather quickly. There'll be a little disturbance, but we're okay
with that.

Speaker 2 (10:15):
Well, we're not very bad for us. We'll talk Tom
McLay about that. After five. It is nineteen after four.

Speaker 5 (10:22):
Bridge Sport hadas did he build his wall?

Speaker 2 (10:25):
I forgot No. I half built the war, not even half. No,
just a couple of k's of the war really got
built good and the Mexicans paid nothing for it. Right now,
the black Caps are on the brink of making the
Champions Trophy final. This is a little war.

Speaker 6 (10:38):
Yeah, they've got the South Africans between them and a
final against India. India beat Australia last night by eleven runs.
I think it was give or take. So the reward
for beating South Africa this evening is to travel back
to the United our rememirates, because the Indians won't get
you in there Pakistan because you know India Pakistan. So

(11:01):
that's the reward if they can get there. The perennial
semifinal loses in white ball cricket, South Africa seven semifinals
and various white ball editions one victory out of seven.
So either ago their easy beats or the worm has
to turn eventually into my pick against us.

Speaker 5 (11:18):
Don't know he's hoping not three hundred and fifteensh is
the average score four an innings at Lahore, So there'll
be runs of plenty and the debate at the moment
is with the returning Darryl Mitchell who drops out.

Speaker 6 (11:34):
Does Young survive? Does Retchen Ravendra survive? Does Stephen Conway survive?
So that will be decided while they go in the
park on shore. But outside of that, I think we've
got a pretty solid side, very.

Speaker 2 (11:47):
Good now in the America's Cup. This is me. We
knew that they were going to have a conversation. Now
we know they're having a conversation about whether it comes
back to Auckland.

Speaker 5 (11:55):
Really, I think.

Speaker 6 (11:56):
When somebody says the economic benefit to Barcelona was two, I.

Speaker 2 (12:01):
Don't believe it. People start going, yeah, I don't believe it.

Speaker 6 (12:03):
You don't believe it.

Speaker 2 (12:04):
No, I think it's nonsense. I think it's fact news.
Because we had in New Zealand, we do cost benefit
analyzes of these things, and actually we found out that
the NBY had been using the wrong calculator and getting
the numbers wrong for years.

Speaker 6 (12:18):
Did MB actually do anything around the America's Cup that
actually try and benefit from From what I gather, they
actually didn't send anyone to Barcelona to go look New Zealand.
They just left it to themselves and there was the
big draw card over the team New Zealand. So I
don't really know who to trust and believe. And next
time you say you stop waving tiny hands at me when.

Speaker 5 (12:40):
You say.

Speaker 2 (12:42):
Who pays for it? That's the other thing, you know.

Speaker 6 (12:43):
Well, Dalton's come out and said, look, we're talking and
that's important, but we're going to need central government money
and we're going to need some private investors as well.
But it looks like there's no bad blood. They haven't gone,
oh you're problematic. Last time we've proven and it's hard
for me to say this, but we have proven that
you need a lot of money to defend the America's Cup.

(13:04):
So we got our money and we defend it.

Speaker 2 (13:06):
What now, Darcy will see tonight.

Speaker 6 (13:08):
Peter Lestra joins us tonight's talk about that.

Speaker 2 (13:10):
Look forward to it. Darcy Wudergrave, host of Sports Talk
seven o'clock. Right here on News Talks. The'b just gone
twenty two minutes after four. When we come back, lots
talk about, including how much the Aussies, sorry the Yanks
went out of the Aussies on defense.

Speaker 1 (13:23):
It's staggering informed inside into today's issues. It's Ryan Bridge
on Hither Duper c Allen Drive with one New Zealand.
Let's get connected.

Speaker 2 (13:34):
News TALKSBI, News Talks ZB. This is an interesting text
coming from one of our listeners, Ryan. Surely Richard Prebble
must have had a fair idea before he was appointed
to the White Tangy Tribe Journal that it had been
quote captured by socialists, and he's played right into their
hands by resigning. They'll be laughing all the way to
the Courts board this. It's hard to disagree with that.

(13:56):
And actually there's been some pushback from the White Tangy
Tribunal itself because Richard Prebble came out this morning in
the Herold and said, I'm resigning. I've read all these
documents and I now believe that this is a socialist
manifesto that they are pushing here their socialist agenda. What
did you think walking into the White Tanking Trumpunal. You know,
it's a fair question to ask. And how did he

(14:17):
not know about this before he signed up? It was
only in October, Richard Prebble on the show five point
thirty five, will ask him. Then it's twenty six after four.

Speaker 1 (14:25):
Now, Ryan Bridge.

Speaker 2 (14:26):
So Donald Trump addressed in Congress over in the United States.
Here's what he had to say. He said that, you know,
they've been wasting money and wasting money on all sorts
of things, which is why Trump, you know, Elon Musk
has been brought in. Anyway, he had some random examples.

Speaker 4 (14:40):
Eight million dollars to promote LGBTQI plus in the African
nation of Lesuto, which nobody has ever heard of. Sixty
million dollars for indigenous peoples and Afro Colombian empowerment in
Central America. Sixty million dollars, eight million dollars for making

(15:03):
mice transgender.

Speaker 2 (15:08):
The last one can't be true, surely not twenty seven
after four your own news talks, hebb I said, I'd
tell you this is from the US. So this this
information has come from a guy called Albridge Colby. He
is Trump's picked to be the head of policy at
the US Defense Department, right, so he's on his way up.
Knows what he's talking about. He was giving evidence to

(15:28):
a unit US Senate Armed Services Committee today and he said,
of Australia, we want them to get their defense spending
to three percent of GDP. They're currently at two. That's
an extra sixty two billion dollars from our cousins across
the ditch. That's more in dollar terms than the UK's

(15:49):
increasing theirs buy. So anyway, lots more to come on that.
Where to the US after News News Talks, Hebb.

Speaker 1 (16:01):
On the iHeart app and in your car on your
drive home it's Ryan Bridge on Heather Duplicy Allen drive
with one New Zealand let's get connected.

Speaker 5 (16:11):
News Talk said, be.

Speaker 2 (16:19):
Twenty five away from five News Talks said be if
you're just joining US. Stock market has been all over
the shop today this after the Trump tariff trade war.
It's off, it's going And what happened really is the
market didn't price this in properly. They thought it was
all bluster. They thought he was just talking big and
big noting, and it turns out he went ahead and
did it. The big question now, of course, is what happens.

(16:42):
How long do they last and to what extent If
you're in business, like if you're in the auto industry
in America right now, do you start planning that these
tariffs will be around for months years? What happens to
all your investments and you're hiring and your business decisions.
This is the big question that all of those investors,
all those companies over in the States and indeed around

(17:03):
the worldhead right now is how long are these things
gonna last? How long do I need to plan for?
We've got Todd McClay on the show, and we'll also
do more on an after six twenty four to five.

Speaker 1 (17:13):
It's the world wires on news dogs. It'd be drive.

Speaker 2 (17:16):
Lots of reaction to that trade war. Here's Trudeau coming
out swinging at Trump.

Speaker 7 (17:21):
We will relentlessly fight to protect our economy. We will
stand up for Canadians every single second of every single day.
But Donald, they point out that, even though you're a
very smart guy, this is a very dumb thing to do.

Speaker 2 (17:40):
And the oscar goes to not you, justin who goes
to the Ontario Premier, Doug Ford. He's the one who
was threatening to withhold the electricity. He's also taken ahead
at the don.

Speaker 8 (17:49):
And I'm highly recommending to President Trump, don't force our
hand you under us to meet Canadians. You're making a
massive mistake. We're resilient, we're road and we're strong.

Speaker 2 (18:01):
Don't know what you're on a boat. Meanwhile, in the
halls of Congress, the Representative Eric Swellwell didn't mince his words,
if you.

Speaker 9 (18:08):
Wanted lower places and your promise that on d one, Well,
the stock market is crashing and places are raising. So
you know, this guy's gone to the super Bowl. He's
gone to the detail of five hundred. He's gone to
you have to see a faith. He's just going to
the supermarket and look at what people are spending to
feed themselves, because that's where they want them to go.

Speaker 2 (18:27):
Oh, that was a touchdown. Now across the ditch, Alfred
is still tracking towards Queens, saying could Dutch down touch
down as a category three.

Speaker 10 (18:35):
It has turned and it is heading to the coast,
and there's not a single model that doesn't.

Speaker 11 (18:40):
Say it will cross the coast.

Speaker 10 (18:41):
There is no doubt that it is intensified a bit overnight.
The zone of where it will cross will has also tightened,
and that will continue to tighten. So it's now somewhere
between the Gold and the Sunny coast.

Speaker 2 (18:54):
Finally, this afternoon, god new research out shows that nearly
a core of Americans pee in the shell on a
regular basis. Twelve percent do so daily, while another twelve
percent just a few times every week. Women twenty percent
of women are doing this. Men apparently the worst culprits.
Thirty percent are doing it regularly, which means one thing.

(19:16):
Seventy percent of them are.

Speaker 1 (19:17):
Lying international correspondence with ends and eye insurance Peace of
mind for New Zealand Business.

Speaker 2 (19:24):
Twenty two to five. So Trump speaks to Congress. He
has had a crack at Democrats who were not clapping
for him, And.

Speaker 4 (19:31):
Once again I look at the Democrats in front of me,
and I realize there is absolutely nothing I can say
to make them happy, or to make them stand or
smile or applaud.

Speaker 12 (19:42):
Nothing I can do.

Speaker 4 (19:44):
I could find a cure to the most devastating disease,
a disease that would wipe out entire nations, or announce
the answers to the greatest economy and history.

Speaker 2 (19:57):
He's still going right now. Jonathan keisl is a US
correspondent with US. Jonathan, Welcome to the show.

Speaker 13 (20:04):
Ryan, Good afternoon, and good afternoon to all the listeners
across News Talk.

Speaker 2 (20:08):
How's the speech going.

Speaker 13 (20:10):
Yeah, we'll probably what an hour and a half into
it now, and he's still going. This is the American
President doing what he loves to do best, and that
is talk on television in prime time. This is normally
called a State of the Union address in a year
when there's an inauguration, it's not. It's referred to as
an address to Congress. Largely, so far, it's been focused

(20:31):
on domestic issues. He's talked about immigration, he's talked about
issues at the border. He's talked about reducing gang crime.
He's talked about targeting Mexican cartels. He's spoken about those
tariffs that you mentioned earlier and said that the reciprocal
tariffs that he had planned will come into effect on
April two. We've just heard him in the last sixty
seconds announced plans for what he's calling a Golden Dome

(20:56):
that is essentially what he says would be a state
of the art missile defense system to protect the United
States of America. So, after some what are we out
now eighteen minutes, I think now he is now shifting
into sort of some sort of foreign policy domestic security realm.
So it's taken him some time to get there. There's
going to be a significant amount of attention to what

(21:18):
he says about Ukraine, given the bust up he had
with Voladimir Lenski in the Oval Office on Friday US
time Saturday in New Zealand time and plenty more about
what is going to happen with the state of that
mineral'still what is going to happen with the state of
his plan to push for peace between Ukraine and Russia.
So there's still a little bit more on this to

(21:39):
one fold from the American President, but so far he's
largely had a very much domestic front in front of
a domestic audience inside the Capitol Building in Washington, DC.

Speaker 2 (21:51):
Jonathan on the trade war, has he mentioned anything about
the stock market's reaction so far because he doesn't like
it when the markets go down, right.

Speaker 13 (22:02):
Well, he's arguably more in astute watcher of the stock
markets in America than any American president before him. Remember
when he first announced that tariffs were going to come in,
the stock markets plummeted and with ours. He halted his
call and said, no, let's him pause on this for
a month and wait and see. So now that month
has effectively come in and we've seen the tariffs coming.

(22:22):
There's been no mention of the stock market, unsurprisingly from
the American President tonight, but a lot of talk still
about tariffs. He says, essentially, the tariffs are a way forward,
that tariffs will have an impact. He says that there
is going to be a little bit of discomfort, So
that's sort of paraphrasing him a little bit to come
before he says that America will grow. He's talking about

(22:45):
wanting to see car manufacturers come back to the United
States of America and to make cars. But at the moment,
the way the tariff system works is that there are
parts coming from all over the place. Essentially, things go
back and forward across borders multiple time, and if these
tariffs are imposed, well then ultimately that's going to make
making that car more expensive, and that's going to make

(23:06):
it more expensive for the consumer too. We did hear
from his Commerce Secretary, Howard Lutnik earlier today who suggested
there might be some sort of compromise from the president
to come tomorrow. So will there be, Well, let's just
wait and see, because everybody other than those closest to
the president the President himself, are essentially saying a trade
war is not good for the United States of America,

(23:29):
it's not good for the global economy, and it's not
good for the American consumers who voted Donald Trump in
who are still dealing with domestic issues, on higher prices
on everyday goods, including you know, basic supplies such as eggs.

Speaker 2 (23:44):
Yeah, well, which have shot through the roof, haven't they? Jonathan,
thank you for that hard to get an omelet. Jonathan Kearsley,
a US correspondent with US Time, as seventeen away from
five Brian Bridge. So Trump will just bring you some
more from his speech to Congress. As Jonathan said, he
is still going, but there was a lot of to
be honest with you, when I was watching this this afternoon,
I thought, man, that is a sign of how divided

(24:08):
the United the supposedly United States of America are. Have
a listened to some of the reaction to the speech,
and then some of the reaction to the reaction.

Speaker 4 (24:15):
By big numbers and one counties in our country and
one counties in our country in two thousand, seven hundred.

Speaker 2 (24:38):
To five twenty five.

Speaker 14 (24:41):
What a map that reads almost completely read for Republican.

Speaker 2 (24:48):
Yeah, it sounds a little more like a Serbian parliament,
to be honest with you, not the United States of
America that we know and love. Sixteen minutes away from
five on news talks, there'd be I'll tell you what
the Reserve Bank has just called a press conference after
five o'clock. We'll have more on that shortly. Plus Bury soapernext.

Speaker 1 (25:03):
Politics was centric credit, check your customers and get payments certainty.

Speaker 2 (25:07):
Thirteen away from five news talks. He'd be very Soper,
senior political correspondent with us. Very good afternoon, Good afternoon, right,
So Adrian Or is off see you later.

Speaker 15 (25:16):
Yeah, Well, the chair of the board, Neil Quigley, he'll
be holding a news conference at five o'clock, so it'll
be interesting to see what he's got to say. But
I would imagine it'll be a diplomatic affair that they
won't say that Adrian Or was asked to walk, or
whether he did it of his own volition. I think

(25:36):
we'll just have to keep guessing on that one. But
there's no doubt when you remember when he was reappointed
to the job by Grant Robertson in twenty twenty two,
it was a year out from the election, and in
the past twenty seventeen comes to mind, there was a
change of governor six months. Well, in fact, they delayed

(25:58):
the change for six months because the new government really
should be in the position of making decisions itself when
it comes to the Governor and Grant Robertson, you'd have
to say, was this final bird to the the national
government because they were totally opposed to it. And when
you look at Adrian or you know, the some would

(26:20):
say the damage he did to the economy. He used
the OCR a bit like a firing squad aimed at
the economy, and you know, it sucked so much money
out of it. The mortgage mortgage rates went through the roof.
They've now come back, and maybe he's thought, well, Okay,
I leave in a pretty good situation where see, I.

Speaker 2 (26:43):
Think that's what I reckon. He's got a new job,
he's been looking for the past year for a new job,
and he's been waiting for the right time to get out,
and he's just lowered the rates, done a bit of
a victory lap, and he's worried, well, who knows what
Trump's going to do to inflation. He's probably thinking, right
now is the right time to get out of here?

Speaker 15 (26:59):
Right right time to go? Yeah, I think you're probably
right there.

Speaker 2 (27:03):
Michael Riddell on the program after five, by the way,
he's the former economist at the Reserve Bank, will ask
him what he thinks now Peters has said the inter
islander contract fee where he said this on our show
last night, actually as well, but won't be three hundred
million dollars a less than that.

Speaker 15 (27:17):
Now, what that says to me is that Winston's been
talking to Harandaiho, the negotiating with South Korea. He saw
them last week. So you know, I think you may
see that Hyanda will end up with a contract to
build these fairies, so that would not negate the break

(27:38):
fee because it was worth a lot of money. But
it was interesting to me the exchange in the house
today because you know, Winston essentially pulled the rug from
beneath Nikola Willis when he essentially appointed himself as Minister
of Raoul, saying I can come up with a better deal.
And like you and I've said on this program, Ryan

(27:59):
will never really know the truth of that, because nobody's
going to disagree with him when a figure comes out.
But Nikola Willis, she was seething when facing questions from
Labour's finance spokeswoman Barbara Edmunds over the original fairy deal
nutted out by the Labor government.

Speaker 16 (28:17):
The biggest dog of an infrastructure project, New Zealand has
seen in many years that blew out members from seven
hundred and fifty million dollars to four billion dollars in climbing.

Speaker 17 (28:30):
Does she agree with the Minister for Rail who said
the break fee quote costs US way less than three
hundred million unquote?

Speaker 18 (28:38):
I find it as wise to agree with the Minister
of Rail.

Speaker 19 (28:41):
They're on on Winston Peters, as the finnouncement say confident
that when this is all resolved, the savings to the
New Zealand taxpayer, based on Treasury's latst and prediction, will
be in excess of two billion dollars.

Speaker 18 (28:53):
Oh well, mister speaker, I'm delighted to hear that the
Minister for Rail has these letters in hands.

Speaker 17 (29:01):
Does she agree with the Minister for Rail that Treasury's
prediction this will save two billion dollars? Can she confirm that?

Speaker 18 (29:08):
I find it's always wise to agree this minister.

Speaker 2 (29:10):
For our Ah.

Speaker 15 (29:13):
You notice the tension between I think Nikola Willis and
Winston Peters.

Speaker 2 (29:18):
That's interesting because he's revealing a number he shouldn't have there. Yes,
so if we run the quick sums on that, so
four billion dollars is what it was going to cost
us for the fairies and climbing and climbing and for
and the landside infrastructure. So if you're saving two billion,
that means we can get our landside infrastructure and our
fairies plus the break feed for less than two billion.

Speaker 15 (29:36):
Well you know the point that Winston Peter's made, and
I've heard him on air today is saying it that
he said the fairies initially when he was part of
the coalition government were to buy the two fairies were
four hundred million dollars.

Speaker 2 (29:49):
Yeah, so crazy. God, Yeah, it is all right, very fantastic.
And Richard Preeble, you've got any thoughts on this, We've
got him on the show after five point thirty tonight
to pick his brain.

Speaker 12 (29:58):
Yeah.

Speaker 15 (29:59):
Well look, some would say it's a stunt, certainly in
the House today. Not surprisingly, the decision to resign from
the Tribunal was seen by Willie Jackson from Labor as
a stunt.

Speaker 20 (30:11):
They resignation by Prebles just another shameful, bad faith political
stunt designed to cause racial baiting, the visiveness.

Speaker 21 (30:19):
The stunt smells as.

Speaker 20 (30:20):
Bad as ex school lunches, and as a waste of
time to undermine that this Parliament's important work.

Speaker 22 (30:26):
There you go.

Speaker 2 (30:29):
Well, he said it all the King of stunts himself.

Speaker 15 (30:31):
Yes, exactly, yeah.

Speaker 2 (30:33):
Verry, thank you very safe for senior political correspondent here
on news talks. Here'd b it's eight minutes away from five.
Don't forget Tom McKay, the Trade Minister on the trade
war after five o'clock, putting.

Speaker 1 (30:44):
The time questions to the newspeakers the mic asking breakfast news.

Speaker 2 (30:48):
On our belaegued ferry service. Administer in chargeable of this is,
of course, Winston petersays.

Speaker 23 (30:51):
Three targets. We're going to be able to announce boo
in the game lovely pendending for on what they cost
will be okay.

Speaker 24 (30:56):
And is that a timeline to get us the new
ships by the twenty nine target when the other ones
fall apart.

Speaker 21 (31:01):
That's definitely yes.

Speaker 23 (31:02):
It's appalling that I've had to deal with because these
other aspects too were shout to do with the ferry,
but all too with a shocking decision. We started off
in May of twenty twenty when I was a minister
then ordering two ferries for four hundred and one billion.
That's way less than half a burd and I come
back to Fine and they're heading towards over four billion.

Speaker 21 (31:20):
We had to stop it.

Speaker 2 (31:21):
Back tomorrow at six am.

Speaker 25 (31:22):
The mic asking Breakfast with the Rain drove of the
LAS News Talk SEB.

Speaker 2 (31:26):
Five to five on Newstalk SETB. You know Trump was
threatened to take over Panama. Well, Hong Kong, a Hong
Kong firm has agreed to sell a big steak in
a Panama port, actually a couple of them, to an
American firm. Ninety percent of the interest in Panama Ports
Company is going to be sold. This is for the
ports of Balboa and Crystal Bell until twenty forty seven.

(31:48):
They've got a contract to run them. This means more
US interests, it means more US control. It is an
area that Trump has been looking at and is obviously
very interested in. He's also adjusted to Congress. Apparently he's
saying something else about Greenland.

Speaker 4 (32:05):
Also have a message tonight for the incredible people of Greenland.
We strongly support your right to determine your own future,
and if you choose, we welcome you into the United
States of America. We need Greenland for national security and
even international security, and we're working with everybody involved to

(32:27):
try and get it. But we need it really for
international world security and I think we're going to get.

Speaker 22 (32:33):
It one way or the other.

Speaker 6 (32:35):
We're going to get.

Speaker 2 (32:36):
It like it's a packet of chip from the sleepermarket.
Three away from five, Todd McClay, Trade Minister, Live Mixed.

Speaker 1 (32:47):
Sabity and.

Speaker 26 (32:50):
Just meet Cati Parney King.

Speaker 27 (32:55):
We've been breaking in if you know that mean, but
we do break if you know, put some.

Speaker 1 (33:10):
We do break in.

Speaker 19 (33:12):
If you know all abo put some Masony.

Speaker 1 (33:18):
Questions, answers, facts, analysis, the drive show you trust for
the full picture. Brian Bridge on Hither duplessy Ellen Drive
with one New Zealand let's get connected. News talks.

Speaker 2 (33:31):
It'd be good evening seven after five news talks, they'd
be Trump's trade war is on China, Canada, Mexico. They're
all retaliating. The President's been addressed in Congress. He says
is more to come.

Speaker 4 (33:41):
So the tariffs will go on agricultural product coming into
America and our our farmers starting on April second. It
may be a little bit of an adjustment period. We
had that before when I made the deal with China
fifty billion dollars of purchases, and I said just bear
with me, and they did.

Speaker 2 (34:00):
You can say that again can we save a providers
here and warning tough times ahead. As you can imagine,
markets have been hugely volatile. The big question, of course
is how long is this going to last? Tom mcclay's,
the Minister of Trade is with us. Good evening, Minister.

Speaker 11 (34:13):
Ryan, Hey, how are you good?

Speaker 2 (34:14):
Thank you? How have you got any numbers yet or
any any information from officials on modeling on how this
might impact New Zealand.

Speaker 11 (34:22):
Well, from the point of view of the tariffs that
are the US as opposed on Canada, Mexico and China
and the retality ones which they're talking about haven't released yet. No,
we don't get a picture of that. And the reason
for that is although we're not directly affected in this
latest round of tariffs, there is going to be some
flow on effect, either because of confidence of those markets

(34:43):
where consumers and businesses don't buy as much though as
we trade with, or secondly as a result of New
Zealand companies that may have a presence there Mexico as
an example, with Fisher and Pichel who will be directly affected.
So asked officials to work that up. But until we
see more detail it is a little bit hard to
know it would be a bit of second guessing. But

(35:04):
I can tell you we're taking this very seriously. And
as I said on your show a couple of weeks ago,
we instructed officials and our embassy in Washington to be
engaged proactively with US administration and reminding them of making
the case of how well our trading relationship is and
how balanced it is. They continue to do that, but

(35:24):
we're it's going to see exactly what President Trump is
talking about when it comes to agriculture.

Speaker 2 (35:29):
Yeah, that is the big worry. We had the Meat
Industry Association. We had Nathan Guy on the show last night.
He said he's really worried about the agricultural tariffs is
talking about because that's I mean, that's our bread and butter.

Speaker 11 (35:41):
Yeah, it's very important to us, all right. So if
tariff is put on all exports to the US, whilst
we will remain competitive against others, it's just a cost
to the New Zealand export. It's a tax or a
tariff at the border. There's more to this, though than
just the tweet or the announcement the other night from
the President. If you think about beef as an example,

(36:03):
New Zealand beef is an important market for US. Predominantly
it's mixed with the US beef, and we have a
lot of beef fat that goes up for their hamburgers.
We know that they need to bring that in for
the amount of hamburger they eat. If there is a
tariff or it can't come in from overseas, are either
going to have shortages or those prices go up. And
I think that's why you've seen, you know, the market
in the US and elsewhere in the world take quite

(36:25):
a hit over the last day or two. What we
don't know is whether he's talking about all agricultural products
and everybody or some from some parts of the world
exactly what. But our people are engaging most informations they can.

Speaker 2 (36:38):
And are they listening to what we're saying? You know,
the argument about the balanced trade is a good one,
but are they listening to it? About the beef and
the meat paddies is a good one, but are they
listening Well.

Speaker 11 (36:48):
I think at the level of the officials and those
who engage with we have a good hearing and there's
very good and constructive conversations on going. But I think
that you look at the the you know, the social
media the other night, as the President said that he's
focusing on agriculture next and we'll see what that means.
But there's a there's a second part of this. If

(37:09):
we take both Canada and also China as examples, they
are both important beef from the US. The US has
slapped terrafs on them that said they're going to reciprocate.
So in the case of China, they will still need
the beef that they are bringing from the rest of
the world from the US on the you know, the
restaurant tabor of the supermarket shelves, they their consumers are

(37:32):
likely to look out where and so some opportunities for
New Zealand hugely, which.

Speaker 2 (37:37):
Is hugely ironic, right, because we've been trying to diversify
away from China and we diversified towards America. It's now
our second largest trading partner for goods and now we've
been hit with these potentially being hit with these terrorists.
It's ironic.

Speaker 11 (37:50):
Yeah, that's that's right. The other the other case that
we have been making will continue to is actually in
the zeal And exporters into the US market predominantly face
greater teriff rates, higher to refrates than US exports into
New Zealand, and the reason for that is we have
a very tow low towerff phrasing. I've asked my officials
to go through line by line and fight everywhere there

(38:12):
is a discrepancy where our tower rate might be higher
than there. So we have a clear understanding of that.
So far much of that there are no imports from
the US down to New Zealand. But we're working through
that so that we can be in a better place
to know what we need to do.

Speaker 2 (38:26):
All right, Minister, thank you very much for your time.
Tom McLay the Minister Trade in the midst of a
trade war. Twelve minutes after five, Adrian Or has gone
from the Reserve Bank. Last day will be March thirty first.
From April first, the Finance Minister is going to appoint
somebody on a temporary basis up to six months.

Speaker 22 (38:41):
Now.

Speaker 2 (38:42):
The Reserve Bank Board Chair Neil Quiggly has just given
a media stand up. Have a listen.

Speaker 28 (38:48):
I have confidence in Adrian. Yes, he and I have
been through a lot in my time as for chair
and his time as governor.

Speaker 2 (38:58):
Three years left on his term. Question is why now
Michael Riddell's former Reserve Bank economist Michael good evening to you,
Good Evening, What do you think he's why now? Do
you think.

Speaker 12 (39:09):
It's really extraordinary? I don't think anyone has a compelling explanation.
I mean, if it was just that he studied, done
the job and he was getting tired, you give three
months notice and you say, look, I'll go after the
nitary policy statement. Instead he's out today. We've got an
acting governor filling in and they say a proper temporary
one from the first of April. There have been suggestions

(39:29):
that maybe there's some sort of behavioral issues, although those
comments from Real quickly cast out on that the Finance
Minister last week was suggesting the budget was going to
be cut. But I mean every public sector CEO Welmington's
had to live with budget cuts, so you know, we
just haven't got adequate explanations and frankly it's not good
enough from either Quickly or the minister or Adrian himself,

(39:50):
powerful public figure.

Speaker 2 (39:51):
Do you think he's got a new job?

Speaker 12 (39:53):
No, I don't. I mean I think if that was
the case, they would have indicated it quite clearly. Twenty
five years Don Brash resigned to politics. He was opening
upfront about that. He was out within the hour. Everyone
understood the reasons why it's got to be something more
than that. Maybe he is really just exhausted, but you
still don't just walk out on the same day, on
the eve of a really big conference they're hosting tomorrow.

(40:15):
They've got Ben Bnanke speaking at it. The governor may
not even be there.

Speaker 2 (40:19):
Michael, thank you for that. Michael Riddell, former Reserve Bank economists.
Time is thirteen minutes after five Ryan. Fascinating, isn't it?
Nine two nine two the number to text. Everybody's got
a theory, you can imagine when it comes to Adrian
or really interesting stuff coming out today from Richard Preble
why he's resigned from the White Tangy Tribunal. And he
says it's to do with the manifesto that he calls socialists.

(40:41):
This is the directive on how they know their doctrine,
on how they run themselves. He says, it's a socialist manifesto.
He's on the show after five thirty, so they will
ask him about that. And you know those astronauts that
went to space, the Butch Wilma and Sonny Williams. And
they were meant to be there for a week and
they have now been there for almost a year because

(41:01):
something broke down, there was some kind of issue. What
turns out they're coming home. It's a Houston, We're coming
home moment for them, stuck up there for far too
long since June last year, it was, and they're coming home.
Next week their replacements will arrive and then a month
after that they're allowed to come home. So they'll be
very happy with that, as you can imagine. And replacing them, interestingly,
is that one Russian and one American astronaut who will

(41:23):
be up there together. I'm sure getting along like a
house on fire. Five point fourteen News TALKZB. We all
want keevy businesses to succeed right well, we should, and
a healthy economy benefits us all. The ice House Owner
Manager Program is for owner managers of Kiwi businesses who
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(41:46):
a fuller understanding of business generally, your own business specifically,
and a revelation of exactly how you fit in within
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(42:08):
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co dot nz.

Speaker 1 (42:29):
Bryan Bridge, you're.

Speaker 2 (42:30):
A news talk c b Auckland put its hand up
for hosting rights for the thirty eighth America's Cup. Auckland
Unlimited says it's been talking with them or it's team
in New Zealand about bringing the race home. Bars Alone
is also just reported almost two billion dollars in positive
impact from hosting the game with Mark Orhams as they
sailing Professor Mark good evening, Ahre there ran, how likely

(42:51):
is this really? Do you think?

Speaker 22 (42:54):
Well?

Speaker 29 (42:54):
I suppose it's a lot less likely than it was
a few months ago when it appeared to be dead
in the water. The opportunity for Auckland to host the
next America's Cup. So the fact that there's at least
a chance. From the sailing community perspective, I think there's
a lot of excitement about the possibility, even if it
still remains I think in most people's minds a relatively

(43:16):
remote one.

Speaker 2 (43:18):
Of course, the funding is the biggest you always has been,
and it'll need central government, it'll need counsel money, it'll
need private money. And you've got Wayne Brown in Auckland
saying he needs the bed tax to get this done,
and then the government's reluctant to do that. I mean,
how do you think that plays out?

Speaker 29 (43:34):
Yeah, I think you've put your finger on it is
that it does require significant investment from a range of
partners who've all got to come together and say we
think collectively this is worth doing. And while there's a
pretty impressive number that's come out of the study from
the hosting in Barcelona, I think many people, including myself,
see those sorts of numbers with some sort of skepticism.

(43:57):
You can often calculate multiplier effects and so on to
tell the story that you want to. So what really
needs to be considered here in the potential of government
and in the end taxpayer rate payer money going into
support an event like this, is what is the return
on that investment and can we be confident that it's

(44:20):
worth the investment for the greater good of New Zealand
and Auckland more specifically.

Speaker 2 (44:26):
Yeah, good point, Mark, And can we be confident in
the actual assessments that are done to determine that as well? Mark?
Thank you. Mark Orham's sailing professor with us on the
prospects of the America's Cup returning to New Zealand twenty
after five Tariffs, So, we had a lot of talk
about tariffs today. They're not good for the world. They're
not good for New Zealand. I mean, we are a
small trading nation. We don't like taris. Unfortunately we have

(44:48):
a president in the US he loves them. I was
listening to an auto industry executive this morning. Lots of
a cars are obviously assembled in the United States, right,
but the parts are imported from all over the shop.
Parts are imported from Canada, parts are imported from Mexico.
And he gave the example of one piston in one car, right,

(45:11):
it crosses the border six times. This one piston from
when it was raw aluminium to ending up in the
car six times. That's six times tariffs. So big questions
I've been saying this afternoon is how long does this
thing last? Do you reorganize your entire business and your
entire industry around these tariffs or do you bank on

(45:33):
them hopefully disappearing soon. It's a very hard thing to
weigh up as a business leader. Twenty one minutes after
five news Talks said, but don't forget. We've got Richard
Prebble after the.

Speaker 1 (45:41):
News getting the facts, discarding the fluff. It's Ryan Bridge
on Heather Duplicellen Drive with one New Zealand let's get
connected news talks.

Speaker 2 (45:53):
That'd be five twenty four. Remember those stupid protesters in
Wellington who the ones who glued their hands to the
roads and they sailed down from the motorways. They ab
sailed down into the Mount Victoria tunnel and they were
protesting about rail or climate change or I don't even

(46:13):
care what they were protesting about, right, they were just annoying.
They did this and held up traffic, not just people
commuting to work, but cancer patients who were going for treatment.
You know, ambulances who were trying to get to the hospital,
trying to get people into the hospital. So I don't
really have a lot of time for these types of people. Anyway,

(46:33):
part of the group that was responsible for some of
this action, they are finally making their way through the
court and Wellington and of course they've opted for a
trial by jury and in defense led evidence. According to
a Radio New Zealand report about this, the climate expert
and Victoria University professor James Renwick gave evidence that if

(46:57):
carbon emissions continued on the current trajectory, the consequences would
be devastating. This evidence went on for ages. He even
brought cyclone Gabrielle into it, and there was no cross
examination from the prosecution on this, which I thought was
slightly unusual, unless why would you not want to cross

(47:18):
examine that evidence? Presumably because it's not relevant. The charge
that these guys are up on is endangering transport. What
does climate change have to do with that? Ryan Bridge
twenty six minutes after five. Everyone scratching their heads in
Wellington right now and going what's up with Adrian or
I hope, I really hope that he is not unwell

(47:40):
and that that's the reason that he has to resign today.
And it's all happened very quickly. No one is giving
anything away. If he had another job, surely they would
just tell us. Here's more from that press conference with
Neil Quigley. He's from the border of the Reserve Bank.

Speaker 28 (47:54):
Critique is the norm in politics, as it is for
Reserve Bank governors. So the relationship with the minister has
been constructive.

Speaker 2 (48:06):
Okay, constructive relationship with the minister. Still no clearer on
exactly what's going on then. By the way Nichola Willis's
statement today her press release, Minister acknowledges outgoing RBNZ governor
and there was one line one, two, three, four, five
six seven words from Nikola Willis, I wish him well

(48:26):
for the future twenty seven after five Richard Preble.

Speaker 30 (48:30):
Necks, it's no major.

Speaker 27 (48:34):
Cause your man.

Speaker 31 (48:42):
To sid good about you for a gaming.

Speaker 30 (48:47):
Heather, after all this time.

Speaker 1 (48:51):
Putting the challenging questions to the people. At the heart
of the story, it's Ryan bridge on hither duper see
Ellen drive with one New Zealand, let's get connected and
news talks b.

Speaker 26 (49:03):
To the way that deals when you mean and kiss
me the way that you dares When you get gm.

Speaker 2 (49:11):
C twenty five minutes away from six News Talks MB,
we're going to speak to Gareth Kernan informtric's chief forecast
after six o'clock tonight. Lots of volatility on the market,
So how long does that last for? And how did
they not see the tariffs coming? I mean Trump's talked
about it since the election campaign. They obviously just didn't
think he was going to follow through with it. So

(49:32):
what does that mean? How does it play out for
the markets? We'll ask him later on. Also the huddle
standing by Tim Wilson and Rob Campbell right now it
is twenty five to six. Ryan Bridge in the Days
of Resignations that Richard Prebble has stood down from the
White Tongue Tribunal. He says the Tribunal has turned the
treaty into a socialist manifesto and he wants no part

(49:53):
of it. Richard Prebble is the former AT Party leader,
now former White Tongue Tribunal member and Labor MP. Good evening,
Good Evening. I had a range of texts on this
this afternoon, some people saying what did you expect going
into this? Because you've only been there since October. Did
you not realize this is what it would be like there?

Speaker 21 (50:16):
That's a reasonable question. I've been following the Tribunal for
fifty years and reading it's various decisions, but I have
to confess that I had not appreciated that the Tribunal

(50:36):
ten years ago basically said it wasn't bound to follow
its previous rulings that I'd been reading and had decided
that actually there wasn't one treaty, that there was two,
and it basically turned the treaty on its head. The

(50:58):
second thing that I don't know if I really appreciate it,
but the effect of it turning it on its head
has turned the Tribunal into the body that creates grievances
rather than solving them. One of their rulings is that
for those who Article three of the treating basically made

(51:19):
everyone British citizens, that Tribournal has ruled that the citizen
clause means that the government must make everyone equal. Well,
I'm no government anywhere in the world have ever managed
to do that. Our governments can fry.

Speaker 14 (51:38):
But.

Speaker 21 (51:39):
People will never be equal. You give people opportunities, some
take them, some don't, But then to say that the
fact that we're not equal is a breach of the
treating means you can bring bring claims basically against the
government for every single government program there is. And then
looking at the strategic plan, which no, I couldn't look

(52:03):
at before I was a member of the tribunal intact.
I only got it myself a couple of weeks ago.
When I looked at that strategic plan, I saw that
the tribunalists forecasting a huge increase in claims and it's workload.
And again it seems to me the tribunals turned its

(52:23):
function on its head. And I was part of the
Parliament that helped extend the tribunal and the purpose of
the tribunal was to resolve grievances, not to create them.

Speaker 2 (52:35):
You're talking about economic equality, right, that's what they are
striving for. And you've said that you know it's socialist
to think that we that we should all be equal
on an economic footing.

Speaker 21 (52:47):
Well, I mean, I've done my best as a as
a minister to actually tried to reduce inequalities in New Zealand.
But I've never been silly enough to believe that society
will ever be equal you give people opportunities, and some
people take them and others don't. That's just the that's

(53:08):
that's a fact of life everywhere, except apparently on the Tribunal,
which now now says that the treaty, as they've interpreted,
means that the government has a duty to make sure
that everyone's equal. Well, I hate to break it to them,
but no government, I mean, even if a mara party
got into office, God help us, they couldn't do it.

(53:32):
What no one's done it, No communist, no communist government
anywhere in the world has managed to achieve it. And
to suddenly say a treaty which is only three claus
as long, which basically says the ground sovereign, the property
rights are to be predicted, and that we're all citizens,
is now being interpreted, as I say, into it as

(53:54):
a socialist manifesto. And there's been a lot of criticism
of David Seymour for suggesting the principles of the treaty.
But the Tribunals actually invented the most of these so
called principles, but just not to be found either in
the English or the or the married text. And much

(54:18):
as some people obviously would love the treaties to have
said these things, they weren't said in eighteen forty and
you can't say them now.

Speaker 2 (54:29):
What is the point of you mentioned in your column
for the Herald today, the fact that the tribunal can
make rulings and the government can just ignore them anyway.
It doesn't, it doesn't really matter. It's now going against
some of the rulings that it has self itself has
made in the past. I mean, what is the point here.

Speaker 21 (54:50):
You mean point of the tribunal?

Speaker 2 (54:52):
Yeah, yeah, what should it be?

Speaker 21 (54:55):
Oh? No, the normal way that legal bodies actors, they
have great respects for previous, previous rulings because that leads
to stability. But when you suddenly have a tribunal that
announces that it doesn't have to take any notice of
the courts, it's not taking any notice of Parliament, and

(55:15):
then says it doesn't have to take notice of forty
years on rulings by previous tribunals, and that it can
suddenly say that there are two treaties, that the treaties
aren't and aren't translations of each other. I mean, that'll
come a great surprise to the people who translated it.

(55:36):
And it's a rewriting of It's a rewriting of history.
And I know historians do reinterpret history, but one thing
you can't do, you can invent facts.

Speaker 2 (55:49):
Thanks very much for your time. I'm Richard. I'll just
find him before you go. Willie Jackson said, this is
a stunt. This is a stunt. A stunt, yes, stunt.

Speaker 21 (55:59):
By who, by me?

Speaker 4 (56:00):
By you?

Speaker 2 (56:01):
Yeah, resigning.

Speaker 21 (56:04):
Well, that's an interesting way of putting it. I put
a lot of thought before I decided that I that
I would resign. I mean, I might a confession to you.
I'm now seventy seven, and I thought to myself, am
I going to sit on this tribunal as a lone
voice saying this is lenacy with no one listening to me? No,

(56:27):
I'm not. I don't agree with what is what is happening,
and I think I've got a duty to resign, and
I've got a duty to tell people why I've resigned.
I don't particularly want to be in the news, but
you're entitled to not fair enough.

Speaker 2 (56:43):
In other words, you're too old for this. You're over
at Richard. Thanks for your time this evening. Really appreciate it.
Richard Preeble, who's no longer a member of the White
Thingy Tribunal seventeen to six The Huddle with.

Speaker 1 (56:56):
New Zealand Southeby's International Realty Find your Oh God.

Speaker 2 (57:01):
Tim Wilson, CEO of the Maximum Institute. Good evening, Tim.

Speaker 29 (57:05):
Cura.

Speaker 25 (57:06):
I hope it's not too triggering for me to say that.

Speaker 2 (57:09):
No, I know we are in good company here, Rob
Campbell at Chancellor in former healthy and z and shares
with us too. Hey, Rob, good evening to you, Kilder.

Speaker 22 (57:16):
Good curra good ah mate.

Speaker 2 (57:18):
What did you make of what Richard Preoble had to
say there?

Speaker 25 (57:21):
Tim, Yeah, it's you know, when an organization is starting
to repudiate what are the rulings that it made from
ten years ago and turning its back on forty years,
I think there's an identity issue with that organization. So
that critique sort of resonated for me.

Speaker 2 (57:37):
What about you, Rob?

Speaker 22 (57:39):
Well? Our understanding about these issues has evolved over the
last fifty years, and the fact that Richard hasn't probably
means he did the right thing by residing.

Speaker 2 (57:49):
One of the bigg It was a serf from you, Rob.
One of the big issues that he talks about is
Maori seeding sovereignty in the fact that none of the
chiefs in their correspondent's post signing the treaty thought that
they had done anything other than seed sovereignty. So how
did we get to the point where we're now saying,
and the tribunal itself is saying, actually, Mardin never seedd

(58:11):
sovereignty to.

Speaker 25 (58:13):
Yeah, and look, I've spoken with his historians who said
that Maria at the time were very clear on what
they were succeeding to gain, and there was a there
was a discussion of it at Kohi Murama like ten
years later, and this Saysue didn't come up. So I
find I find this this trope. Yeah, it's it's confusing

(58:34):
to me.

Speaker 2 (58:35):
All Right, guys, we're going to take up a quick
break here on the Huddle. We're going to come back
and talk about Adrian or I want to get your
takes on what you think is going on here. Rob,
You've obviously had your fair share of experience with high
profile public sector partings, so I'd like to get your
take on what you think might be going on here.
The Huddle returns next the.

Speaker 1 (58:55):
Huddle with New Zealand Southeby's International Realty the ones with
Local and.

Speaker 2 (59:00):
Reach thirteen to sex, Tim Wilson and Rob Campbell with
me tonight. So Adrian AWR Is gone. Question is why
now he's still got three years more than three years
to run on his contract. Seems very odd timing, Rob,
What do you make of this?

Speaker 22 (59:16):
Well, I don't know what deal he did. In fact,
I'm completely unburdened by any inside information on this, so
I can speaculate and would guess is this that because
Adrian is a bit of a fighter, so he wouldn't
naturally just have said, oh you think I should move,
I will. So I think this is hard for you

(59:38):
to imagine, but I pictured myself as being Nikola willis
probably a bit hard for her as well. Anyway, if
I was here, I don't like Adrian or I'm not
sure how he's going to behave as I go through
this next couple of years, and I actually would quite
like him to go, but I don't have the powder
tell him to go. What I do have the power
to do is to talk to the board, and I

(59:59):
think of the board started to waver about whether they
were supported for Adrian, that would be much harder for
him to stay. So here's my speculation, I think the
Nats wanted him to go. I think they tooked to
people who they feel influential was on the board, and
why wouldn't they be influential on the board. They appoint them,

(01:00:20):
and he got a bit of a wobble there and
decided it was better to leave discretion the better part of.

Speaker 2 (01:00:25):
Valor interesting because I thought initially I thought he's got
a new job and we're just waiting to hear about it,
and there's some confidentiality thing going on. But maybe because
it's interesting you talk about Nicola, Willis not liking him,
wanting to get rid of him. Another way to go
about that would be to put the squeeze on the finance.
And you know the budget's coming, you're sitting you, you're
sitting in new appropriations. Maybe you put the squeeze on

(01:00:47):
that way. Maybe he's got wind and he's out before
it gets too hard.

Speaker 25 (01:00:50):
Tim Yeah, yeah, look, maybe that's and I'm still trying
to get the image of Rob Campbell wearing a pants
suit out of my head.

Speaker 32 (01:00:58):
It's very very pretty, all right, and I know it's
clarifying for me.

Speaker 25 (01:01:09):
But you raised the issue, and since since we're doing theories.
You said, I hope he's all right physically, because this
sort of been like this cone of silence around it.
And I certainly do hope he's all right. But I think,
you know, what was interesting to me was that that's
sort of like I've done.

Speaker 32 (01:01:25):
You know, I've done.

Speaker 25 (01:01:26):
Things are going well, I can go now. But I
mean this is someone who a leading economist in twenty
twenty one said he overcooked the stimulus by ninety percent.
So you know, it's ash Wednesday today. Forgiveness is offered,
but a little repentance might be helpful.

Speaker 27 (01:01:39):
Yeah.

Speaker 2 (01:01:40):
Hey, just finally, recycling bin inspectors are going to be
fitted with body cameras. This is to stop them being
abused on the job. Now I don't obviously, I don't
know one tolerates abuse towards anyone who's just trying to
do their job. But there is something I think, rob
It's like, it's like if somebody was to put a
camera in the toilet, you know, so that's someone going

(01:02:01):
through your rubbish. It is something very personal and unsettling
about it, isn't the.

Speaker 22 (01:02:07):
Yeah, well, good luck to them sorting out the way
I recycle.

Speaker 2 (01:02:11):
The least you're honest, well, you'd lose it. You'd be
a three strikes guy.

Speaker 27 (01:02:16):
Just like that.

Speaker 2 (01:02:17):
I reckon.

Speaker 22 (01:02:19):
And everyone everyone in the country is going to have
to wear a body cam, aren't they? When you go
shoving at the server market or wherever you go, We're
all going to have to have body cams to prove
that we didn't do something and appropriate to someone else. Look,
I really don't know about recycling, but in fact most
recyclings are fraud anyway. Yeah, so I can't get very

(01:02:40):
excited about it.

Speaker 25 (01:02:42):
That's so true. Your fifty seven percent of packaging and
recycling is actually not recyclable. It's a different grade of plastic,
and of the remaining plastic it's recyclable, forty one percent
of that's thrown away by recycling centers because we can't
recycle it.

Speaker 1 (01:02:55):
It's a waste of time.

Speaker 22 (01:02:57):
Great bring on accidentally, as you can recycle body cameras either,
they probably quite have.

Speaker 2 (01:03:03):
Can you recycle pantsuits? Very good? Tim Wilson and Rob Campbell,
thanks for being with us. Guys. Take it easy out
there and don't forget not to recycle. Nine to six
It's the.

Speaker 1 (01:03:18):
Heather Duper c Allen Drive Full Show Podcast on Myhart
Radio powered by Newstalks EDB.

Speaker 2 (01:03:25):
News Talks VB. It is six minutes away from six
So Pack and Save story from the other day, actually
it was yesterday. The woman from huangan Nui who pays
for her shopping and then she's barred from leaving the
store like she's some kind of criminal. And they didn't
give her a reason. They just said, you can't leave
the store until you give us your name and even

(01:03:45):
your address and your phone number, all these weird details.
She spent more than one thousand dollars at the store,
but at the time wasn't told well why she wasn't
allowed to leave without giving her details. Anyway, now Pack
and Save has come forward and said the reason is
because if you any business that's registered for GST, you
have to keep a record of a customer's details if

(01:04:08):
they're spending more than one thousand dollars in one transaction.
Who knew that? Have you ever spent more than a
thousand dollars at a business that's GST? We just did,
I'm sure you have. Did they write down your name,
your contact number, your physical and postal address, your phone number,
and your email. It's a lot of information to keep
on someone and how often are you spending more than

(01:04:29):
one thousand dollars? I've never personally been asked. I mean,
I'm obviously I'm not. I'm not regularly spending one thousand
dollars in one transaction at a number of stores, but
I'm sure many people are. Nineteen nine two is the
number of text have you in business? Have you keep
a record of all of that sort of stuff to
the people who are texting me, by the way, in

(01:04:50):
the last hour saying there was a very large fire
in Papacuda at the industrial estate. Yes, we are aware
of that. Our newsroom is being made aware of that
as well. Thank you for all of your messages. Apparent
it's at a scrapyard. Fine, So we'll keep you up
to date with what happens with that. Four minutes away
from six on News Talk c B, coming up after
the News at six o'clock, we're going to get into

(01:05:11):
what exactly Trump's trade tariff will trade war means for
the markets. They've obviously been all over the place today,
including here in New Zealand. We'll get the latest on
that next day.

Speaker 27 (01:05:27):
I can make times up by myself.

Speaker 30 (01:05:30):
No bucking.

Speaker 31 (01:05:33):
Up the shelf been deeping every weekend.

Speaker 30 (01:05:36):
If you go to sell, they've been there.

Speaker 27 (01:05:38):
We're making.

Speaker 26 (01:05:40):
From they soon bout.

Speaker 27 (01:06:02):
Baby, you blame me, Baby, I'll blame you.

Speaker 30 (01:06:07):
I don't like God can make this coming mess up
by myself.

Speaker 27 (01:06:15):
T'p. I like you.

Speaker 31 (01:06:20):
A Greek if you couldn't tell they said same one
makes some train.

Speaker 27 (01:06:24):
What's up?

Speaker 1 (01:06:43):
What's down? What were the major calls? And how will
it affect the economy? The big business questions on the
Business Hour with Ryan Bridge, hands mess insurance and investments,
grow your wealth, to protect your future?

Speaker 2 (01:06:58):
News talks, It be you's living after six. It is
a bumper to bumper Business Show today. Agane Tip Trainey
is with us. She's in Wellington, she does business. She's
all over Adrian or the story about Adrian or resigning.
I should say excuse me anyway, she is across that
story and she will be with us shortly to give

(01:07:18):
her take on exactly why and what's going on there.
Milford has an update on the reporting season that's just
pass plus we're in the UK with Gavin Gray right now.
Though the trade war tariffs against Mexico, Canada, China, Trump
has put them in place. Now they are starting to
have an impact on the market. The ends ofex fifty
finished half a percent down today. The S and P

(01:07:39):
five hundred has erased most of its gain since Trump's
election win in November, and all eyes will be on
markets overnight of course to see there's going to be
further reaction. Gareth Kennan is Infametric's chief forecaster with US tonight, Hi, Gareth,
evening run with the New Zealand markets. Is that a
big deal?

Speaker 33 (01:07:58):
Well, it's not much of a shift here today compared
to what we've seen overnight with the initial reaction from
American and indeed some of the European markets as well.
I mean my feeling with some of the sort of
share markets and exchange rate as well, as they do
tend to sometimes take a little bit of time to
digest the news, and so I suspect that we may
not well have seen the end of it yet.

Speaker 2 (01:08:17):
The reaction from Wall Street is that can we say
basically that's they thought they didn't think that Trump would
follow through in the way that he has and he's
made good on his word. Yeah, I suspect that's right.

Speaker 33 (01:08:29):
I mean, you look at some of the initial market
reaction after the election of Trump back in November, and
the reaction was very much like always going to stimulate
the American economy. There might be a bit more inflation,
but you know, we're here for the growth kind of thing.
And I think people are now starting to realize that
actually there's some serious negative, medium term consequences that could
come out of some of the policies that are now
coming through.

Speaker 2 (01:08:48):
A big question, of course, is how long do they last? Yeah, well,
I mean that's right.

Speaker 1 (01:08:53):
I mean you look at previous episodes.

Speaker 33 (01:08:55):
I looked back at the GFC today, and the share
market there eighteen months from peak in two thousand and
seven until it reached its trough out in two thousand
and nine, and then it was up and down over
the next two or three years before we sort of
got out of the other side of that.

Speaker 2 (01:09:08):
You know, who knows.

Speaker 33 (01:09:09):
With financial market Sometimes you look and go, is it
a one week event? In this case, I suspect it's
going to be something that could last a lot longer,
and we could be in a more serious sort of
down tune down with trend that lasts for up to
twelve months.

Speaker 2 (01:09:20):
We had you reckon. So even if he pulls them
off in the next month or so, the damage has
already been done or will have already been done to
things like investment, to you know, labor hiring, that kind
of stuff that the effects could linger for a year.
Is that what you're saying.

Speaker 33 (01:09:37):
Look from a business point of view, I mean, uncertainly
is a real killer when you're trying to make business decisions,
especially when it's some of that longer term stuff around investment.
And so if you're not sure how the landscape is
going to be in a week's time, in six months time,
then you are going to hold off on those decisions.
And I think you're right. Even if he does sort
of reverse some of these out and I'm not confident

(01:09:57):
that he will, that businesses a look it and going well,
I'm just not sure how that landscape looks going forward,
and I'm going to hold off on making those sort
of big commitments and decisions.

Speaker 2 (01:10:07):
And it's hard. I was listening to an auto industry
executive today who was saying, you know, how do you
exactly what your point how you meant to plan? He
wants us to move factories to the United States. You know,
currently they're doing it. A lot of production outside of
the US. All that takes time, and I don't even
know if these tariffs are still going to exist in
two months, let alone two years. That is how unpredictable

(01:10:30):
you are.

Speaker 33 (01:10:32):
Yeah, and I mean, we have seen some responses from
businesses over the last six to twelve months to some
of the previous tariffs that had come in for the
likes of China, which Biden or Trump had put in
and Biden had increased. In some cases, we have seen
decisions being made where production is moving out of China,
but it's not, of course, coming all the way back
to the US. Generally, it's impacting on some of those

(01:10:52):
other Southeast Asian nations where the tariffs aren't in place.
But yeah, when you're talking about penalizing the whole rest
of the world, including some of you, your closest neighbors,
it does it's a whole nother step up above that.

Speaker 2 (01:11:03):
Really. Certainly it's Gareth, Thank you very much for that,
Gareth Kennon. He's the chief forecast Informetrics in Wellington. Eleven
minutes after six News Talks, ZB Jane tips Trainey is
next her take on the Adrienne or saga from today,
The resignation that basically took everyone I think in Wellington
apart from the board of the RBNZ by surprise.

Speaker 1 (01:11:21):
It's the Heather dupas Allen Drive Full Show podcast on
iHeartRadio empowered by News Talks EBB.

Speaker 2 (01:11:29):
You're on News Talk ZB. It's fourteen after six. We
tried to get to Adriene all today. He's resigned. If
you're just joining us suddenly, no one knows why we
tried to get to him today. We asked the Reserve
Bank of New Zealand's media team if he could come
on the program. We heard nothing back from him. We
called we text nadder crickets, the rumor mill now turning.

(01:11:49):
Of course, no definitive reason was given for this departure.
Janae Chips Trainey is the herald Wellington business reporter who's
with us this evening. Hi Janay, Hi Ryan. Gosh, this
was one out of the blue.

Speaker 34 (01:12:00):
It was I actually thought when my colleague Thomas Coglan
told me, I thought he was joking in the office
this afternoon just to evoke a reaction from me. It
was definitely a surprise. Now tensions have been high between
Adrian Or and Nikola Willis, and that is perhaps my
best scarce sys to what's happened here. My guess, and

(01:12:22):
this is not just my guess, is that things might
have hit breaking point.

Speaker 22 (01:12:28):
Now.

Speaker 34 (01:12:28):
There are a couple of things that have been happening. Firstly,
the Reserve Bank has been asking the government for more funding.
It's received a lot more funding in recent years because
the sort of work that it's been doing has expanded,
particularly in terms of the way it regulates banks and insurers.
So that's one thing. Nichola Willis has talked to The

(01:12:49):
Herald last weekend and basically said that she thought the
Reserve Bank's requests weren't reasonable and really emphasized the fact
that the government's actually trying to cut the amount of
money at spending.

Speaker 2 (01:13:00):
So that is one issue.

Speaker 34 (01:13:02):
Another issue is the way the Reserve Bank goes about
regulating banks. There are these bank capital rules that we've
been talking about for a number of years that are
there to protect banks and prevent them from collapsing. Nikola
Willis has been looking at whether those could be watered down.
That's something the banks would like, and that is something
that some people think would support more competition in the

(01:13:25):
banking sector. So I think those are two issues of
contention and that they might have contributed to this decision.
That is only that is only a guess.

Speaker 2 (01:13:36):
I think you're onto something with the funding for the
Reserve Bank itself. And when you look at the staff numbers.
Somebody's just texted, have you guys mentioned the number of
staff working at the Reserve Bank years? Yeah, and we
did mention that earlier in the show. But just for
those who aren't aware, in twenty eighteen, two hundred and
fifty five full time equivalent employees, now six hundred. Do

(01:13:57):
you know there are reasons why that number hasn't. You
know that they are doing different things, But is that
justified six hundred?

Speaker 34 (01:14:06):
Yeah, I mean it does. It's a lot, and it's
hard to know, and I think it's a tough pill
to swallow when one of the key jobs keeping inflation
in check is something the Reserve Bank has failed at.
Like inflation was above the target range for three years.
It got as high as and your rate, god, as
high as I think was just over seven percent. So

(01:14:28):
you know that that is tough when you go, well,
what's what's one of your key jobs and you didn't
do it properly. Now, a few of the other things though,
that the bank is doing. One of the big things
is it's working on standing up this deposit compensation scheme.
So that's a whole new insurance scheme that means if
your bank collapses, you get some of your money back. Currently,
if your bank collapses or you or even your credit

(01:14:49):
union or other non bank deposit taker, you won't necessarily
get your money back. So that's a huge piece of
work to create this insurance scheme around that. So that is,
for example, something that adrian Or would point to and
say that this is a big deal and we need
more stuff for that.

Speaker 2 (01:15:06):
Yeah, to know, I guess, Look, Wellington's a small place.
We're all going to find out eventually what happened, don't we.

Speaker 34 (01:15:12):
We do see Adriana or walking around the streets and
he will be asked.

Speaker 28 (01:15:16):
I mean, the.

Speaker 34 (01:15:17):
Timing of this is also unusual. It feels like it
caught it caught e ronoff guard. The Reserve Bank called
a last minute press conference at five o'clock today where
the board chairs spoke to us again didn't provide too
much more insight, but suggested that my theories, you know,
might be correct. The other awkward thing is that the
Reserve Bank is hosting this massive international conference tomorrow and

(01:15:40):
on Friday. So we've got central bankers from around the
world coming to Wellington, including you know, high profile people
like the former Federal Reserve chair Ben Binank, Catherine Man.
You know, we're celebrating thirty five years of inflation targeting.
The Reserve Bank of New Zealand is traditionally well respect
did around the world because we helped pioneer the approach

(01:16:03):
that central banks take today. So to come out with
this and Nikola Willis said it was Adrianal's choice to
come out with us the day before this this conference,
which is a big deal, is interesting. The other interesting
thing is that the Reserve Bank said I couldn't attend
the conference in person because there was not enough room
and and it's being live streams. So make of that

(01:16:24):
what you will.

Speaker 2 (01:16:25):
So Adrian's not going to it.

Speaker 34 (01:16:27):
No, Adrian's not going to it, noness.

Speaker 2 (01:16:30):
So he's thrown his toys in a massive way. He's
having a massive wobbly. That's my that's my opinion. Amy.
I'm not asking for a response from you.

Speaker 5 (01:16:39):
Hot takes.

Speaker 2 (01:16:40):
Hot takes.

Speaker 34 (01:16:41):
This is that you know, this is the thing and
in the absence of a reason of you know, the
Reserve Bank coming forward and adrianal fronting it. This is
this is what happens.

Speaker 2 (01:16:49):
We fill the void. Yeah, well consider it fell donat
ship traineye in z Heir at Wellington business before I
thanks so much for your time. It is nineteen minutes
after six. What else do you read but mass of
woldly from petulant child who didn't get what he wanted
in the budget? Did nineteen nine two the numbers of
text nineteen after six? Will take a look at reporting

(01:17:12):
season obviously we've been reporting on reporting season for the
last couple of weeks. What does it mean for New
Zealand Inc? What does it mean for the stock market?

Speaker 27 (01:17:21):
Going?

Speaker 2 (01:17:21):
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(01:17:44):
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Speaker 1 (01:18:20):
Approaching the numbers and getting the results. It's Ryan Bridge
with the Business Hour and Mass Insurance and Investments. Grew
your Wealth, Protect Your Future News TALKSB.

Speaker 2 (01:18:32):
Six twenty three On News TALKSB, Sam Trithawi is with us.
He's with Milford Asset Management. Good evening, good ending Right. Firstly,
how would you summarize earning season? What companies were you
hire as, what were your loose.

Speaker 35 (01:18:45):
I think ending season overall really confirmed what was not
perhaps not a surprise for most at the second half
of last year was a very tough period for New
Zealand companies, and within the results reported you could see
impacts of a week consumer not dramatically worse than prior,
but certainly not improving. And on the back of it
there was a big step up in corporates taking a

(01:19:06):
much more serious approach to cost cutting. Probably one of
the positives was really around the labor pressures that if
you went back to three years ago, a lot of
CEO is one of the top concerns was finding staff
or the availability of labor. That has now flipped the
other way. So overall not dramatically worse than expected, but

(01:19:27):
definitely subdued in terms of highlights and lowlights. I think
what was former A two sorry, what was the former market?
Darling a too of milk? That was a clear standout
stock up thirty seven percent as the company really got
its mojo back, taking material share in the Chinese and
performing their market, and lowlights spark in Royman Healthcare. Really,

(01:19:48):
what's a soft training update in a large one billion
dollar capital race?

Speaker 2 (01:19:53):
Yeah, which of those two things was more of a
surprise to you because we know that Spark's been in
trouble for a week while, so getting that news perhaps
wasn't It wasn't as surprising as the Ryman equity raise.

Speaker 35 (01:20:06):
Yeah, no, I agree. I think it's the Ryman raised
that that would have surprised investors the most. The Spark
result well clearly not great and you know there were
hents rounds. I guess loss of control of the cost
base from management. It follows several soft trading updates from
the company over the last year or so. But for Ryman,
I think that really surprised in two ways. So firstly

(01:20:28):
that trading update that they put out sales and of
units within their villages. We're tracking at sixty percent of
the prior year over the last week so over the
last few weeks, so a big step down there. And secondly,
if you'd asked most investors who follow the company closely,
does Ryan Ryman need more cash, I think the answer
would have been something like potentially in the future, but

(01:20:51):
nothing is pressing at this stage. After they did step
up and raise new equity in an emergency way two
years ago, so that means that the raising was priced
a heavy discount and had a pretty material fly on impact.
To the wider market as investors look to fund.

Speaker 2 (01:21:07):
It say, and this has obviously not been a great
reporting season for us for the half year. How far
off peak bad news do you think we are?

Speaker 35 (01:21:16):
I think the fact that corporatings were subdued but not
maturely worse suggests that yes, we potentially are at peak
bad news or the trough of the economic cycle. The
real question facing investors is really down downtown has been
prolonged so far. And then secondly, what recovery path will

(01:21:38):
we follow? So management teams from large companies just hope
of or optimism of recovery in the second half of
the year of the year, and yes they are taking
cost out much more seriously. But I'll be watching the
consumer closely for signs of that strong demand to get
an indication of that pace of recovery. So when will
we actually see lower mortgage rates start to lift consumer

(01:22:01):
spending more materially than what's happened so far.

Speaker 2 (01:22:03):
Hopefully soon, Sam, thank you for that, Sam Trithwy Milford
Asset Management. With the look back at reporting season, We're
going to go a Fisher Funds for the market update next, whether.

Speaker 1 (01:22:18):
It's Macro Microbe or just playing economics. It's all on
the business hours with Ryan Bridge and theirs. Insurance and investments,
Grow your wealth, protect your future. These talk said guy left.

Speaker 5 (01:22:32):
Him somewhere, are no longer go.

Speaker 31 (01:22:36):
And I want you run away now.

Speaker 28 (01:22:39):
Grow the lovely thing we hear?

Speaker 24 (01:22:41):
Now, where did we go?

Speaker 28 (01:22:44):
Where did we go?

Speaker 2 (01:22:47):
But just twenty five away from seven you're on news talks.
There'd be some numbers for you. This is on the
trade stuff from the United States today, So nothing definitive
we can say about the impact on the global economy
at this point. I mean, you've's got one country firing
off tariffs and then you've got others responding, and we
don't know where it all lands, right, but some initial
analysis out of the UK says they reckon. It'll knocker

(01:23:09):
point four of a percent off US GDP. China would
be down point one percent, Canada down point eight percent.
New Zealand's impacts so far well much smaller than that
and not directly impacted at this point. So I just
don't know. Most of the interesting part, I think will
be the agricultural tariff that Trump said he's going to

(01:23:30):
put on in April. Second, where does that go? Let's
have a listen to some of Donald Trump's address to
Congress this afternoon, New Zealand time. It lasted a week
while and during the speech he was interrupted a number
of times. Once was by a Democratic congressman by the
name of Al Green. Have a listen, take your seat.

Speaker 24 (01:23:54):
Finding the members continue to engage in wilful and concert
a disruption or proper decorum. The Chair now directs as
art and at arms to restore order, remove this gentleman
from the chamber.

Speaker 2 (01:24:13):
There you go, that's Donald Trump being rudely interrupted. So
the sergeant at arms was brought in and he was
taken away. There's a lot of booing and back and forth.
It wasn't they didn't cover themselves in glory. The Democrats,
I have to say, some of them are actually holding signs.
Some of the Democrat congressmen were holding signs that said
musk steals. So there you go. Lots more out of

(01:24:35):
Congress today, though. Have listen to this. This is Trump
talking about he's got rid of DEI and the country
is no longer woke.

Speaker 4 (01:24:43):
We've entered the tyranny of so called diversity, equity and
inclusion policies all across the entire federal government, and indeed
the private sector and to our military, and our country
will be world no longer.

Speaker 2 (01:25:03):
He's also obviously in America, the cost of eggs has
gone through the roof. He's blaming Biden for that.

Speaker 14 (01:25:08):
Joe Biden especially let the price of eggs get out
of control, the egg prices out of control, and we're
working hard to get it back down.

Speaker 4 (01:25:20):
Secretary, do a good job on that. You inherited a
total mess from the previous administration.

Speaker 2 (01:25:27):
So there you go. It's all Biden's fault. Here's the
thing about Donald Trump. If you're listening to this, yes,
I mean I think it's funny. I think it's funny.
He is the president of the United States, and what
he says obviously carries power, carries weight, moves markets when
he opens his mouth. But also he just sees some
really outrageous dumb stuff, which I find interesting and I

(01:25:49):
find funny. However, with the trade war, we've got markets
around the world with their knickers twisted and side out.
We've got the rug essentially pulled out from underneath Ukraine
reports even today. This is from the Daily Mail in
the UK, so take it with a grain of salt,
but reports that he was considering relinquishing the leadership of

(01:26:10):
NATO and handing that over to the Brits in the
French and you think, my goodness, it's everything all at once.
It's all a much. Can we slow down, please, Donald Trump.
But there are three things to keep in mind that
will keep him in check if you are worrying about
what's going on and what the state of the world
is like at the moment. One is the stock markets.

(01:26:32):
We know he likes to see them pumping. We know
he likes a strong stock exchange, and at the moment,
after today's results, it's been not been, so that will
keep him in check. The polls he doesn't like them turning.
And most importantly, the midterms. So third of the Senate
and all of the House seats are up for grabs
in the midterm elections. This is in twenty twenty six,
so he's got that to bear in mind as well.

(01:26:54):
So those are just a couple of things that should
keep him somewhat contained, although it may not feel like
it right now. Twenty minutes away from seven cyclone Alfred.
This is over in Queensland. Obviously, authorities there are tracking
this very closely. Now, Jetstar, Quantus and Virgin Australia have
had to cancel flights in and out of Brisbane. Not

(01:27:14):
all of them, but a number of them have been canceled.
The warning zone they've now extended we spoke about this
morning zone Yester now extended to six hundred and fifty
square kilometers. Seven hundred miles of rain is expected. Twenty
six thousand homes are at risk of flooding. So this
is a major area and a very densely populated area

(01:27:35):
of Australia as well, and so in fact it's the
second most densely populated area in Australia that they're looking
at here, so it could be potentially be quite bad
for them. We'll keep an eye on that one more
bit before we go this. If you've ever been to
Wall Street and had to look at the statues that
they've got there, you will know that there is the
bronze statue of the bear bull. There's a girl, or

(01:28:02):
at least there used to be a girl who was
facing the bull on Wall Street. And the idea was
it was a bronze statue of a girl and she
was the Fearless Girl statue. She was meant to symbolize
gender diversity in the workplace and gender diversity on Wall Street,
all these sorts of things, and they made a big

(01:28:23):
hooha of this at the time. Now, the company that
sponsored this was a company called State Street. It's an
investment firm in New York. They came up with the concept,
they got it made, they put it in front of
the in front of the bull on Wall Street. This company,
it's been reported today, this is from the Wall Street Journal.

(01:28:44):
They had just quietly cut their diversity policies. They had
a quota inside State Street thirty percent gender quota. They
also required anyone that they did business with, they required
them to tell State Street, what is the number of
women you've got, what's the ratio of women you've got,

(01:29:04):
what about the racial and the ethnic composition of your staff.
They required that information before they would do business with them,
and they have now dropped all of these. This is
the same company that put the Fearless Girl on Wall Street.
Clearly the whole thing was performative. Nineteen to seven, News
Talk said, b We're in the UK.

Speaker 1 (01:29:22):
Next everything from SMEs to the big corporates, the Business
Hour with Ryan Bridge and plans insurance and investments. Grew
your wealth, protect your future news talk, said B.

Speaker 2 (01:29:34):
Sixteen away from seven Ryan. So glad Adrianara is gone.
He was a disaster with Robertson interfering as well. It
was more of a puppet's best news ever, says Linda,
and another here says, this is about the astronauts who
were stuck in space. They are going to be coming
home and will be replaced by two new astronauts, one
of whom is American, the other is Russian. And I

(01:29:55):
like this text from Paul that just says, maybe we
should send mister Trump and mister up there together. That
would sort the whole thing out, wouldn't it. That would
solve the world's problems. Let's go to Gevin Gray, he's
our UK and You correspondent, Gavin Good evening.

Speaker 36 (01:30:09):
Good evening run. It would be solved in a day, wouldn't.

Speaker 2 (01:30:11):
The Hey, the Vice President in the United States backtracking
on these comments he made about potential involvement of the
international forces to police a peace deal in Ukraine. How's
it going down over there?

Speaker 1 (01:30:26):
Yeah?

Speaker 36 (01:30:27):
Really really, as you can imagine, very badly. Lots of
criticism here, and he has since JD. Vance backtracked on
some of those comments. So his comments actually were that
the having a US stake in the Ukraine economy was
quote better security guarantee than twenty thousand troops from some
random country that hasn't fought a war in thirty to

(01:30:49):
forty years.

Speaker 32 (01:30:50):
Now.

Speaker 36 (01:30:50):
Who was he talking about, Well, only the UK and
France have offered to put boots on the ground in
Ukraine as part of a peace deal, so one assumes
he was talking about them, and that led, of course
to plenty of people here referring to the mission in
Afghanistan with America, the mission in Iraq with America, and
plenty of people which said it was incredibly disrespectful of

(01:31:13):
British forces the same sort of said from France. And
now jdvans And said, well, no, I never said it
was Britain or France. I didn't mention those countries.

Speaker 2 (01:31:22):
But who else could he have referred to? Well, we
don't know.

Speaker 36 (01:31:25):
He didn't answer that, So yeah, a lot of upset
here caused by that comment.

Speaker 2 (01:31:29):
Meanwhile, the summit you guys head over in London with
you know, the French and all sorts of European leaders
intra Die actually Trump's kind of headed poke at that too.

Speaker 36 (01:31:41):
Yeah, just saying, you know, gosh, is that all they
can do? What a time to say that, you know,
when we're going to have a get together and talk
about more war was his comment, When he should be
we should be trying to talk about peace. So he's
absolutely slammed it. And as the UK was proudly announcing
a four point planned to gearantse Ukraine's defense in the

(01:32:02):
event of a peace deal, the US President said, in
my quote, probably not a great statement to have made
in terms of a show of strength against Russia. What
are they thinking? Again, didn't elaborate on that, And we
don't know why this suddenly came out. There is this
sort of tendency I think, as was shown by J.
D Vance in that earlier answer, that they just simply

(01:32:23):
shoot from the hip a little bit and once or
twice that's landing them into hot water.

Speaker 2 (01:32:29):
Now six, so we're all in five eyes together, right,
and six is in there with US gathering intelligence foreign intelligence,
your inspy agency is actually a little bit worried about
sharing that intelligence now with the United States because Trump's
in power.

Speaker 36 (01:32:46):
Yeah, I don't think we're the only ones now There
hasn't been a formal announcement about this, but in the
last few hours Finland's intelligence service called SUPO has said
it is closely what developments in the Trump administration. Why well,
because you know, first of all, President Trump has cozied

(01:33:07):
up to Putin. Secondly, he has stopped his administration's offensive
cyber operations against Russia. And lastly, the administration already is
accused of mishandling sensitive data that's supposed to be secret
by actually announcing it on social media, is the allegation.
So that's why many in the Five Eyes are very,

(01:33:28):
very wary about what's happening. I think to be fair raum,
when any new leader gets in, there's a certain element
of apprehension, maybe a certain element of not giving everything
over at the start that you know. But I think
definitely we're sensing among those different security intelligence organizations across
Australia and New Zealand, amongst the Five Eyes, that this

(01:33:48):
is going to be something that all of those governments
and organizations are reviewing carefully, fearing that any information they
give may suddenly be blurted out on social media or in.

Speaker 2 (01:33:59):
An in you which is an absolutely fear concerned to have.
The other instinct thing, course, is whether the American intelligence
community actually hands over all of the intel to the
president on the same basis. Now, tell me about these migrants.
They were trying to cross the Mediterranean Sea and they
have been rescued, which is fantastic news. That they found

(01:34:19):
themselves on an oil platform.

Speaker 36 (01:34:23):
Yes, that's right. So it's just off the coast of Tunisia,
so they haven't got terribly far, and they decided to
get onto this oil platform because I think their boat
was very sort of poorly maintained as usual, and they
feared drowning. So although one personal platform has died when

(01:34:43):
they managed to scramble or board, they are now on
a non governmental organization boat called the Sea Watch. It
says it's rescued all thirty two remaining from this platform. However,
although they're being looked after aboard the Aurora ship, no
country nearby has yet agreed to let the ship dock safely, So,

(01:35:06):
in other words, no European countries intervened despite what the
ship's owners are saying is an imminent emergency and the
fact that the people are stranded in international waters, so
they are looking at Malta perhaps as being the place
that should take them on run because this happened within

(01:35:27):
international waters, but within the Maltese search and rescue zone.
And I think it really plays again into this thing
at the moment which immigration is such a hot topic
here in Europe and all those attacks as well that
we've seen in Germany by asylum seekers and by those
who come from Afghanistan and other countries that quite frankly,

(01:35:49):
people are going to be very very reluctant countries, very
reluctant to take on board these thirty two even though
it is a relatively small figure.

Speaker 2 (01:35:56):
Absolutely, thank you very much for that, Devin Gray, UK
Europe cars on it with us. Time is nine minutes
away from seven. You're on Newstalk ZBB. That four year
parliamentary term bill passed its first reading today and there's
another one related to it that's coming. I'll tell you
more about that next.

Speaker 1 (01:36:11):
It's the Heather to Pice Allen Drive Full Show podcast
on iHeartRadio powered by NEWSTALKSZBB.

Speaker 2 (01:36:19):
News Talks VB. Time is seven away from seven, So
the David Siemol legislation that the government has taken on
board to do a four year parliamentary term has passed
its first reading today. Interestingly, all parties in Parliament supported it,
apart from two Party Mardi, which is remember yesterday we
talked about the congestion Charging Bill, which passed its first

(01:36:40):
reading in Parliament with the support of all parties except
to Party. Mardi anyway, never got quite got to the
bottom of why to Party Marty was against congestion charging.
I can only assume it's because that would mean that
those who were least able to afford to travel at
that time wouldn't be able to travel. But that's just
me surmising. They weren't in parliament to give a speech,
so how would we know. Anyway, This four year term

(01:37:01):
legislation's past its first reading, taken the first step. However,
there need to be another piece of legislation that's related
to this that they're going to introduce also this week.
The Referendum's Framework Bill will have its first reading this
week sometime. It'll provide the conduct for a referendum alongside
the general election. And remember this bill doesn't change the

(01:37:24):
term of parliament, but it allows a parliament to be
extended to a maximum term of four years. Honestly, you
need a law degree just to understand how this things
are going to even be implemented. And the other thing
that they want to change David Seymour does at least
is the Select Committee so that you have a non
government majority in opposition majority on Select Committee, so that

(01:37:46):
it's more transparent and more democratic if you are going
for four years. So there you go. In summary. Goodness me,
what a busy day. It may feel like the world
is about to end. It's not about to end. Things
always we always muddle through, don't we. And we heard
from Tim Todd McClay, the Trade Minister today in the

(01:38:06):
program we could actually benefit from a trade war our
agricultural products. Yes, we sell a lot number two trading
partner as the United States for goods, but we also
have our main trading partner as China, and if goods
the trade war gets so out of hand between those

(01:38:28):
two that American goods and American agricultural products to get
too expensive, they'll start buying more of ours. So it
could go both ways. It may not be the end
of the world, even though it might feel like it
today four away from seven News talks'd be thanks for
all the emails and your feedback and for listening SA Tomorrow.

Speaker 30 (01:39:02):
Where wait, Wait, no.

Speaker 31 (01:39:18):
Sunny Crying Baby decide the times.

Speaker 30 (01:39:25):
We gotta get.

Speaker 31 (01:39:26):
Away, Weaken, we got t get, we got dog get away,
we got.

Speaker 30 (01:39:48):
We got t get, we got wake out.

Speaker 1 (01:40:21):
For more from Hither Duplessy Alan Drive, Listen live to
news talks. It'd be from four pm weekdays, or follow
the podcast on iHeartRadio

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