Full Show Podcast: 07 October 2024

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
The only drive show you can trust to ask the questions,
get the answers by the facts, and give the analysis.
Jack tame on Heather duple c Allen Drive with One
New Zealand Let's get connected.

Speaker 2 (00:13):
News Talk zied B.

Speaker 3 (00:17):
News Talk zed B. Good afternoon, Jack tame in for Heather.
This second Monday of the school holidays. After five o'clock,
we meet the very latest on the Muddle Cupper Father
Tom Phillips, Police confirming today a credible sighting. Some pig
hunters spotted the man and his children. Where will tell
you more about that as well as that you know

(00:38):
how the NRAL was looking to expand into Parpo and
New Guinea ain't gonna happen. Apparently the dollars and cents
don't make sense, doesn't add up. We will explain why
very shortly right now, seven past four, Jack Team. So,
a couple of weeks ago, I went out to Devenport
for a little picnic evening with some friends. When we
went over on the ferry, as you do with the kids,

(00:58):
and you know how you're trying to turn the whole
trip into a bit of an adventure. I pointed out
to the kids as we sailed across the Devonport from
Aukland CBD. The naval ships that were waiting there at base. Look,
I said, pointing at the Manumenui. Look, that's our navy.

Speaker 4 (01:15):
Look.

Speaker 3 (01:16):
Obviously, it's a great relief that everyone's okay and was
able to disembark in time. And I accept it's going
to be a bit of time before we learn everything
about what went wrong. But it is hard to look
past what is, at least from the outside, a profoundly
embarrassing accident for New Zealand's defense force and for New
Zealand at large. I get it. Shit happens, but the

(01:40):
time and place really could not be much worse. Just
twenty four hours before the ship hit the reef, defense
ministers from across the Pacific were meeting in Auckland to
establish a New Pacific Response Group, a multilateral force that
will respond to future disasters. This is supposed to be
the height of competence in the Pacific, with Orcus and

(02:03):
tensions over China's ambitions in the region. The Australian Defense
Minister was plain when I asked him last week about
New Zealand's military assets. Quote, a more capable New Zealand
is very much in Australia's interests. He told me. It's
probably in Sarmoora's interests now as well. What's more, in
just two weeks leaders from across the Commonwealth's fifty six

(02:25):
member nations and yeah, King Charles are going to be
meeting for the biennial Choggham meeting in you guessed it
some more. You hate to think what sight seeing those
leaders might do if they have a couple of hours
spare time. So what now? I just think it's absolutely critical,
like vitally important important that we do everything humanly possible

(02:51):
to reduce the environmental impact of this accident. Everything, every
bit of kit we have available needs to be used,
every resource needs to be thrown at this and most importantly,
there cannot be any quibbling over the cost of the
response and recovery and recovery. We have to sincerely do
the right thing by some more and obviously that is

(03:13):
not going to come cheap. As much of the world
pause resources into defense assets time and again, New Zealand's
are proving unfit for purpose, whether it is the woeful
state of defense force housing, the perennially stranded seven to
five sevens or now the Manuwanui. The credibility of our
defense force has taken an almighty battering in the last

(03:35):
few years. But as we respond to this crisis, the
credibility of our nation is on the line too, and
we had better step up. Jack d N two ninety
two is the text number. If you're going to text me,
don't forget the standard text cost apply. You can email
me as well. Jacket Neewstalks headb dot Co dot NZ.
We're going to get the very latest on the Manuwanui

(03:55):
incident right after five o'clock this evening. Right now it
is ten past five on News Talks be and one
hundred and forty nine projects have been picked for fast
tracking through the Fast Track Approvals Bills, Housing, Energy, major
infrastructure projects take the priority. Eden Park two point one
is on the list as well. Infrastructure Minister Chris Bishop
reckons the bill will be passed by the end of

(04:17):
this year.

Speaker 5 (04:18):
The expert panels will be set up early in twenty
twenty five and our expectations that some of these projects
will be consented in a manner of that compares to
the status quo, which could be a matter of years
and years.

Speaker 3 (04:28):
But the legislation and the list is still contentious. Infrastructure
New Zealand Boss Nick Leggett is a fan, but CEO
of the Environmental Defense Society Gary Taylor has some questions.
They are both with us this afternoon. Kilder, Guys Neck,
I'll start with you, what do you think of the list?

Speaker 6 (04:46):
Well, I think it's quite a balance, lush, Jack, and
it really speaks to the need that this country has
to get its act together and build some infrastructure. You
know that works both for land transport, for alternative energy
and of course for housing. And New Zealand is hampered

(05:09):
with infrastructure. We're small, you know, we're a small market.
We're distant from other parts of the country. But we're
also very slow and we're not that great at making decisions,
and so we fall at the bottom of the world
where it comes to the efficiency that we get from
our infrastructure spend. That's because stuff gets delayed, things take
too long to consent, and you know, frankly, we just

(05:33):
we lack the certainty in our market to to be
able to get efficiency.

Speaker 3 (05:38):
Okay, Gary, what do you think of the list specifically?

Speaker 4 (05:43):
Well, I agree with Neck, there's a lot of I
mean we have a huge infrastructure deficit in this country.
You know, we need to spend another two hundred million
dollars or so to fix things, and that's obviously a priority,
I think. I think however, there is some so you know,
there's a lot that's on that list that I wouldn't
quibble with, but there are some that I.

Speaker 3 (06:04):
Would, Right, what would you quibble with?

Speaker 4 (06:09):
Well, I'd quibble with the inclusion of coal mines, for instance.
I think having trans Tasman resources on there is actually
a surprise because they want to use the same space
as off Taranaki as the offshore wind guys want to use.
And I might have thought wind was a higher priority

(06:30):
in terms of infrastructure than you know, sand extraction. There's
also sort of zombie projects as they're called, which are
ones that have already been through a normal process and
then refused consent for good reasons. Was the kia y
Matty waste to energy plant, which I think is very

(06:53):
controversial in terms of its potential for you know, bad
air emissions.

Speaker 3 (06:58):
So those are all I mean for domin that the
environmental concerns, Nick, how do you respond to that? Are
you concerned about those environmental projects that might have negative
environmental impacts.

Speaker 6 (07:08):
Look, I think that everybody needs to be on watch
where it comes to environmental projects. Would say that we're
pretty pleased to see the quarries included, because we can't
build decent infrastructure projects without quarries, and we have a
problem in this country that quarries are becoming farther and
farther from cities, and of course that adds to not

(07:30):
only costs but also emissions to get aggregate to where
it needs to go to build. But look, I would
say there are protections here and that we would expect
that expert panels to put conditions on consents that address
environmental and social impacts during construction and for the eventual

(07:50):
operations of these projects. Infrastructure New Zealand is primarily interested
in the building of decent infrastructure for Kiwis, Gary Raises
points and other people who have opposed us raised fairpoint.
We've got to ensure that the right checks and balances
are in place. And I would say this as well, Jack,

(08:11):
that this is a stop gap until we can get
to that review of the RNA and the venture replacement,
and that's something that's really worth emphasizing. But we can't
afford to pause progress because the country's social and economic
and productivity future relies on us being able to get
some stuff done in the near to medium term.

Speaker 3 (08:33):
Let me turn that round then on Gary, just finally, then,
what do you think about having this bill operating in
practice with that expert panel in place? What will make
it work better from your perspective?

Speaker 4 (08:46):
I'd make three quick points. So the first is that
we already have fast trapped law in place. Over eighty
projects have been approved, including a lot of infrastructure projects,
an average time for decision making of eighty eight days.
The only difference with this point, which is my second one,
with this law is that it actually covers other legislation

(09:08):
as well as the ROMA, so the Conservation Act, the
Wildlife Act, and so on. That arguably is a good thing.
I suppose a one stop shop. But the third and
most important point, and here I do disagree with Nick,
is that there's an implicit heavy bias against the environment
and in favor of development the way that this bill

(09:30):
is drafted at present. And if you want to take
the kind of emotional pitch that you included in your
editorial at the start, here, yes, it's really important that
we clean up the oil spill in Samoa. But it's
also really important that we look after our environment in
this country.

Speaker 3 (09:49):
Hey, thank you both for your time. We really appreciate it.
Gary Taylor and leget there.

Speaker 6 (09:53):
Jack.

Speaker 3 (09:53):
Thanks for Jack. Thanks for your comment this afternoon regarding
the monomenui. The truth is we can't afford to come
whatever happened to all of the warships that are still
on the bottom of the ocean. Sad as it is,
you've got to leave it there, says Kate. Nah totally disagree. Well, look,
here's the thing, we just don't know. We don't know
about the status of the of the money, the new
as it stands. We don't know about the likelihood of

(10:16):
some salvage operation. Clearly, it's complex. It's on a reef,
it's in what is supposed to be an area that's
supposed to have environmental protection. So there are all sorts
of things that have to be weighed up. But I
think at the very least we owe it to Sarmor
to do our very best and spend every last dollar
we can in order to try and reduce the environmental impact.
Ninety two ninety two is the text number seventeen past four.

Speaker 1 (10:37):
Digging deeper into the day's headlines, it's Heather Duper c
Allen Drive with one New Zealand one Giant Leaf for business,
used Dogs, b Sport with tab get your bed on
R eighteen bet responsibly.

Speaker 3 (10:52):
The all back squad has been named for the end
of year tour. Cam Roy Guard is in there at
Noah Hotham's expense Sports Talk hoast. Jason Pine is with
us the afternoon Calder Parney Killer Jack. No major surprises
right now after cam Roy Guard got through the weekend
and look good at the weekend, I think we all
expect him to be in the squad, yep, yep.

Speaker 7 (11:09):
And I think the only question was whether he would
come in for Noah Hotham or TJ pet and Uda.
You know, do you stay with the tried and true
or do you make this the time that you start
looking to the future. I think this is the right decision.
You and I spoke about this over the weekend. I think,
and look, if you don't take TJ, you're basically as
your half backs have. Cameroy Guard five tests, Cortez Ratama

(11:32):
eight tests, Noah Hotham half a test that that's where
you are with the with the half back cohort. And
I think also Noah Hotham will be named in the
All Blacks fifteen tomorrow the squad for games against Georgia
and Munster and will play both of those games, whereas
he may not with Roy Guard and Ratimo ahead of him,
have got any games at all on the Northern Tour,
or very few of them. So I think this is

(11:53):
the right decision. Same with sam Kin, even though he's
also going at the end of the year. I think
taking both Kane and Petanada is the right thing to do.

Speaker 3 (12:00):
Black Ferns conceded nine tries against the time tries.

Speaker 7 (12:06):
Yes, yeah, and a year out from the next World Cup,
there's a bit of work to do for Allen Bunting
and that team. The only so sceric of light at
the end of the tunnel, Jack is that you remember
a year out from the last World Cup they had
four straight losses to France twice and England twice. But
on that occasion they made a coaching change, brought in
the professor Wayne Smith and turned things around there. I

(12:29):
don't think they're gonna punt the coaches this time. That
was due in part to a cultural difference inside the
squad that doesn't seem to exist now. But there were
Well that's that's three straight losses now, wasn't it England,
Ireland England again? They got France to play in a
week or so. Yeah, there's some work to do twelve
months out if they even make the World Cup final,
let alone try and defend that title.

Speaker 3 (12:51):
Do you sometimes wonder what would have happened if I
haven't Cleary had stuck around with the Warriors, Yes, sir,
I often do.

Speaker 7 (12:57):
I mean, I'm a big league, but when I do
think league, that's off And one of the things I
think about, I mean, what a dynasty, What a dynasty.
It's hard enough to win the NRL. Let alone went
it back to back. They've won it four times in
a row. Credible in a salary cap league, that is
just astonishing that they can do that against you know,
some good teams and a particularly good team in the
Melbourne Storm. Yeah, just like I don't think there's any

(13:19):
question now the greatest rugby league team of the modern
era for in a row jacket just speaks for itself.

Speaker 3 (13:24):
Totally agree, totally agree, Thank you very much, sir. Jason
Pine behind the mic for Sports Talk from seven o'clock
this evening. Thank you very much for your feedback. Bryan's
is Jack. It's inconceivable, inconceivable how a survey ship with
sophisticated equipment to map the sea floor could run aground. Jack.
I've been in the NZD for nearly thirty years. We
are broken. Years of underfunding has meant we are now
force that cannot effectively train or maintain standards. We are

(13:46):
combat ineffective. Thank you for your feedback. I'll get more
of that soon. Twenty three minutes past four, Jack Tayman
on News Talks. He'd be.

Speaker 1 (13:54):
On your smart speaker, on the iHeart app, and in
your car on your drive home. It's Jack Team on
Heather duplicy Alan drive with one New Zealand. Let's get
connected and news talk as they'd be.

Speaker 3 (14:06):
Simon's flicking me a note to say, Jack, my four
beers who helped build the dams, the roads, power, water
and infrastructure of New Zealand did not sit around winging
about us being too small to do so. Jack, I
reckon this terrible situation with our naval ship is a
great opportunity for another country, perhaps the USA, to come
to the rescue of US and sar Moor and show
their value to the Pacific and jack. Any cleanup that

(14:27):
goes ahead, says Gerrard, would have to go through the
process of due diligence. First, of course, no point spending
tens of millions on a salvage if it's not going
to make a difference, or if it is going to
make things worse. We are going to give you the
very latest on the situation with the monument and after
five o'clock. This is my take. A day and a
half in, I found it very hard to get information
on the environmental status of the whole thing, like it

(14:48):
just I mean, that seems like such an obvious question.
Is there a big oil spur? What's happening? Is it
leaching chemicals into the ocean all over the reef? I
have personally found it really, really difficult to get that information.
So we're going to see if we can get you
some of the inphone and find out what the actual
status of the ship is right now after five o'clock.
As well as that, we're going to take you to
astraya Plus, Chris Luckson has just made his first trip

(15:11):
to Dunedin in quite some time. The last time he
was there was fourteen months ago. He was down there
responding to the floods. He says he was going to
be going there in the next few weeks, but of
course the protesters have all turned out to make their
views on the Dunedin hospital plans very well known. It's
almost four thirty. News is next, Give a jacktame On
newstalg ZDB.

Speaker 2 (15:34):
Jack tame cutting through the noise to get the facts.

Speaker 1 (15:37):
It's Jack tame On, Heather Duplicy Ellen Drive with one
New Zealand let's get connected News Talk seb.

Speaker 2 (15:50):
Plus Kissinger.

Speaker 3 (15:55):
They'd be not sure if you saw cam roy Gard
at the weekend for Counties against Manoa two was it
just looks so good? Do you always think after you've
been away from a long injury break like that? I
mean you imagine what the nerves are like?

Speaker 8 (16:12):
Right?

Speaker 3 (16:12):
Can you trust everything? Can you trust everything? Turns out
he could trust everything a couple of cracking tries, so
no great surprise that he was named in Scott Robertson's
squad for the Northern tour. After five o'clock will take
you to Sir John Coup and get his thoughts on
that and the All Vicks Prospect heading into the latter
Stanza of twenty twenty four. Right now it is twenty
four minutes to five.

Speaker 2 (16:32):
It's the world wires, on news talks. It'd be drive.

Speaker 3 (16:36):
It's been a year since last year's October seven terror
attacks and it's been mark world wide by rallies and protests.
Thousands gathered in London's Hyde Park to commemorate the date,
and one of the speakers there was a woman whose
daughter has been held hosted by Hamas since those attacks.

Speaker 9 (16:52):
A beautiful, funny and brave daughter who I love to
the moon them back, deserves to come home. I need
to Hargo again and I need to see her smile.

Speaker 3 (17:03):
Just ten days after Hurricane Helene ripped through the southeast
of the United States, another hurricane, Hurricane Milton, is set
to hit Florida's west coast this week. Governor Ron DeSantis
warned residents today that time is ticking.

Speaker 10 (17:18):
Today and Monday to be able to prepare and to
be able to take whatever actions that you deem appropriate.

Speaker 3 (17:26):
Hurricane Helene's death toll is now two hundred and twenty
five people, which makes it the deadliest mainland storm in
the US since Hurricane Katrina and a Russian Leonardo DiCaprio
look alike has lost his job as a model because
he's now too fat to play the Hollywood superstar Brian Hayfield.

(17:49):
Roman burst ev Will was apparently bursting at the seams
burst Eving at the seams, made quite a career pretending
that he was Leonardo DiCaprio, But when the pandemic had
he started to put on a few cares again not
the only one Roman. Now, like most unemployed Russian people
get this though, he has to go off and fight
in Ukraine. Rough right now, it is twenty three to.

Speaker 1 (18:12):
Five International Correspondence with Ends and Eye Insurance, Feace of
Mind for New Zealand Business and.

Speaker 3 (18:19):
Six the Perth Life presenter Olli Peterson is with us
this afternoon. Killt Oli, get a Jack. So it is
the October seventh anniversary and the first repatriation flight from
Lebanon are touching down today.

Speaker 11 (18:33):
Yeah, that's going to land just after seven o'clock tonight
Sydney time. There's about two hundred people on board. They
left Lebanon, went to Cyprus. It's one of two flights
which is being operated by Quantus on behalf of the
Australian government, so they're flying back to Australia free of charge.
There's expected to be another three hundred odd passengers on
the other flight, which is due to touch jet down

(18:53):
on Wednesday.

Speaker 3 (18:55):
These flights, there's still plenty.

Speaker 11 (18:57):
Of people in Lebanon, plenty of Australians in Lebanon at
the moment saying they're unable to get out of the country. Yeah,
unable to get to Cyprus and get onto these Mercy
flights back to Australia. But at this stage there are
no other plans for additional flights. But I mean it's
obviously a moving beast at the moment, so there could
be other announcements later in the week.

Speaker 3 (19:15):
Just just talk to us about things on the ground today,
because I know there was a lot of contention heading
into the anniversary about protests around the country, you know,
particularly in Sydney. I think at one stage the police
said they didn't want them to go ahead, and then
they were lent and said no, maybe there's a good
idea that they go ahead. How have things been so
far today?

Speaker 11 (19:32):
So so far things haven't really kicked into gear, and
it's meant to be later this afternoon in Sydney. We
saw some protests around the nation over the weekend. Here
where I am in Perth, there was about three hundred
or so people that gathered in the middle of our
CBD on Saturday afternoon.

Speaker 3 (19:50):
It was mostly peaceful.

Speaker 11 (19:51):
There was one particular protester who was carrying with them
a particular placard with the face of a Hesbala leader
and was asked to remove that police. Locally there's been
a bit of to and fro about whether or not
that person should have been arrested. But I do worry
about what might happen in Sydney this afternoon because it's
not just people who are joining the cause on behalf

(20:11):
of being say pro Palestinian protesters. It's looping in a
lot of other groups jack for causes that have absolutely
nothing to do with anything in the Middle East. I
think there's a few professional protesters taking advantage of the
fact in Sydney today it is the Queen or stop
the Queen anymore as it's King Charles's holiday birthday weekend,
so they're going to make the most of protesting this

(20:32):
afternoon in the CBDs.

Speaker 3 (20:33):
Yeah, yeah, I can imagine that that is going to
be a huge event, so we'll keep a close eye
on things there. Hey, working from home days are numbered.
Bosses are audited staff back in yeah.

Speaker 11 (20:45):
Dell all the computer giant and flight center telling all
the stuff they got to come back to work.

Speaker 3 (20:50):
And in fact, there was a only a couple of
weeks ago.

Speaker 11 (20:52):
KPMG Australia said that eighty two percent of CEOs believe
everybody will be back in the office by twenty twenty seven.

Speaker 3 (20:58):
We're almost getting announcement.

Speaker 11 (21:00):
From lots of different businesses at the moment that they're
telling their staff to come back to work. But interestingly
a lot of public sector workers are starting to find
in their latest pay and enterprise bargaining agreements that in
fact they're being offered nine day work fortnights to try
and retain the staff.

Speaker 3 (21:18):
Now they're being told they'll have.

Speaker 11 (21:20):
To work more so in extra forty five minutes per
day to access that second Friday off every other week.

Speaker 3 (21:25):
But maybe that's going to be the compromise here.

Speaker 11 (21:27):
If staff have to go back to the office, they'll
be able to negotiate these ideas of Okay, I'll come.

Speaker 3 (21:31):
Back, but I don't want to be there every Wednesday
and you know, eventually I don't want to be there
every Thursday. Would you do the forty five a day
for a day off every fortnight? Well, I mean, we
can't do it in this game, can we?

Speaker 11 (21:43):
But if I was doing something else, yeah, I'm mean
happy would it be having every second findal off?

Speaker 12 (21:47):
Like good luck to them?

Speaker 2 (21:48):
Yeah?

Speaker 3 (21:49):
Yeah, I don't know. I mean it's interesting that they're
offering that. I mean that the order for the public
service here's not an order, but in a directive is
that you know, they're expecting a few more people to
be back in the office than perhaps have been in
the post COVID era. You sort of get the sense
that this is not something you know, this is this
is kind of sweeping into the public sick that, having
already been instituted in the private sect the some time ago.

(22:11):
The NRL expansion plans are on ice, at least for
some of the teams, because the dollars don't add up. Well,
this is what it looks like.

Speaker 11 (22:18):
It was very interesting Grand Final Day, obviously in all
the action on the Panthers beating the storm, but what
was actually happening off the field was Peter Velandi's the
chair of the aar LC was holding all these different
interviews and all these radio stations around Sydney, and obviously
we have a bit of skin in the game over
here in Perth because they're about to revive the Bears
from North Sydney and make them the Western Bears. And

(22:39):
we were look, we all sort of given the nod nod, wink,
wink wink. Hey this this is going to happen like
this is an announcement coming this week. All of a suddenly,
he reckons it doesn't stack up. The finances are not there.
That's the Perth bid, he says. All the other bids
aren't really stacking up. The only one that's stacking up
is the bid from Poppy and New Guinea whenever went
underwritten by the federal government. The chinnis six hundred million dollars.

Speaker 3 (22:59):
It's going to stack yeah, yeah, yeah, yeah, but the
but Perth is not going to be getting its team.

Speaker 11 (23:04):
We don't know, we don't Frantically, I was talking today
to the beer organizers and they're saying, no, we're still negotiating.

Speaker 3 (23:10):
I think it's going to be on track.

Speaker 11 (23:11):
I think they can just try and sense they can
get a few more dollars out of either of the
state government here or the you know, the co sponsorship
between the North Sydney Bears and the w A bid teams.
So it'll be very interesting. But maybe maybe the finances
don't stack up. Maybe the broadcasters don't want to pay
as much money for extra content, for extra rugby league matches.

Speaker 3 (23:30):
It's yeah, that's interesting. So because you know how in
different cities and states like the the sporting tastes differ
substantially Australia, So your Victoria tastes quite different to your
Sydney taste, et cetera, et cetera. Well, can you just
give us the top three sports in terms of winter
popularity in Perth? Do you think, like where would rugby
league rank? Would that be one or two? No, it's

(23:53):
AFL one, two and three. It's an AFL town massively,
it's huge. See, so they'd almost be beter off just
putting another team in Sydney right, well in some ways,
but I mean you look at the success obviously of
the Warriors in terms.

Speaker 11 (24:07):
Of you pack Yeah, yet stadium, I should say every
single week you pack it. Now, we could pack our
stadium here at twenty five thousand every week as well.

Speaker 3 (24:16):
I know the South Island team wants to enter the competition,
but if you want to be a truly national game, and.

Speaker 11 (24:21):
There's a lot of five over, A lot of people
have moved into Western Australia out of Queensland and New
South Wales where they're born and bred rugby league diets.

Speaker 3 (24:28):
They would love it.

Speaker 11 (24:29):
It would work here. It genuinely would work here and
give you an extra time zone. But it's just interesting
eleventh hour. Something else seems to be up because the
bid team. So mate, there's no problem with finances, they're
just changing the goalposts.

Speaker 3 (24:40):
Yeah right, this makes sense. Okay, thanks Olly, appreciate your time,
Jack Sea. Mate. There is Ollie Peterson from six PR
Perth Live. Thank you for your feedback.

Speaker 8 (24:50):
Jack.

Speaker 3 (24:50):
Just been talking to my sister in Florida with the
storm coming. She stood in line for three hours to
buy water and was limited to containers the hoping that
this latest hurricane will blow itself out to sea before
for a Hitzlandia. I hope that is the case for
the sake of sake of your sister. Thank you very
much for that. Ninety two ninety two is our text
number if you want to get in touch just so
you know. This afternoon, TV and ZED has announced the
first stage of its next big organizational restructure. So at

(25:14):
the moment we don't have a whole lot of detail
about what TV and Z is proposing, So they say
that the next stage of the proposals are the ones
that will come out with all of the jobs that
are affected in that kind of thing. A lot of
the stuff seems to concern the actual organizational structure, so
for anyone just watching TV from home or streaming whatever,
it's not going to be totally clear what the changes
are yet. However, the big one that they've announced today
is they're looking to end the TVNZ news website, so

(25:37):
oneenews dot co dot nz would basically go offline from
the end of February next year. So we're going to
take a close look at that proposal after five o'clock
this evening, Politics next quarter to five on Newstalk ZB.

Speaker 1 (25:49):
Politics with Centrics Credit check your customers and get payments certainty.

Speaker 3 (25:52):
So if you trigger, senior political reporter is with us
this afternoon. Hi, Sophie Child Jackson gat to be with you. Yeah,
you too. The Prime Minister has confirmed he'll be attending
the East Asia Summit this week. What has he said
about that?

Speaker 13 (26:04):
That's correct, Jack. So the East Asia Summit is in
Laos this week and Chris Luckson was asked this afternoon
about his attendance there. So the summit is an annual
forum held by the leaders of Asian member states along
with the likes of Australia, China, Russia, India, the United States,
New Zealand and others, and it would be Chris Luckson's
first time attending as Prime minister. So he was asked

(26:26):
today by media whether the summit is still relevant and
says yes absolutely. He says New Zealand has security and
economic interests in that region and New Zealand prime ministers
have had a long standing commitment in playing a key
role in that forum. So he says it's a key
chance to spend time with as young partners, which he
says he's trying to build relationships with both bilaterally and collectively.

(26:50):
As for what he hopes to achieve, here is what
he said.

Speaker 14 (26:54):
A lot of it will be focused on making sure
we enhance the rules international rules based system that the
values that we stand up for around national sovereignty, international
rules based system, freedom of navigation. In a security sense.
We want a peaceful and stable region, and we also
need to continue to advance our economic intersts, and so
there'll be conversations on both those topics.

Speaker 15 (27:14):
Now.

Speaker 13 (27:15):
Jaquay yet to hear details from the Prime Minister on
who exactly will be there and who of those people
lux And might hope to get an opportunity to meet with.
I would say it's unlikely the likes of Vladimir Putin
or Jijingping would be at the East Asia Summit, but
I haven't seen it confirmed in international media either way.
Sky News Australia, for example, is reporting Prime Minister Albanesi

(27:36):
will meet with Chinese Premier Lee, so it doesn't appear
that Jijingping would be attending. One attendee that is confirmed, however,
is US Secretary of State Anthony Blincoln, who's going on
behalf of President Joe Biden. Probably unsurprising giving given that
we're less than a month out from the US election,
but it will be interesting to see if there are

(27:57):
some key relationships at the summit there that Luxen's yet
to sort of cement face to face. He has spent
some time in in Southeast Asia already this year, and
he's met with ASYON members in Melbourne back in March,
so he has been putting a lot of groundwork into
some of these connections already.

Speaker 3 (28:14):
Yeah, right, Hey, a Court of inquiry has been launched
into the at means at this Manawanui. So what have
been the updates on the Prime minister today?

Speaker 13 (28:21):
Yeah, obviously, Jack, this has been a major story from
the weekend, the first peacetime loss of a New Zealand
vessel and the recovery efforts was described by the Defense
Minister as an extraordinary feat and we did hear from
Chris Luckson about it for the first time this afternoon.
He says he hopes the seventy five people who had
been on board the ship are repatriated back home as

(28:43):
quickly as possible, and that the government's attention will now
be turning to minimizing the environmental damage caused by the
oil in the ship. So Luxon says, clean up teams
and spillkits were sent to some more on the C
one thirty that flew to some oil yesterday and more
equipment and expertise was on the way and how listen, sorry,

(29:04):
I'm just going to play play a little bit grabbed
from Laxity up there.

Speaker 14 (29:08):
Last night we put as much of our environmental spill
kits in equipment as we possibly can. Maritime New Zealand
also has huge capacity and capability and that's on its
way up there as well. I've spoken to the Acting
Prime Minister of Somehow yesterday. They've welcomed Indian all support
that we can offer, and that's what we plan to do.
We're going to do everything it takes to make sure
that we do the very best we can to minimize

(29:29):
the environmental impacts.

Speaker 13 (29:32):
That's so, as you can say, a quarter of Inquiri
has been launched into exactly what happened, so we'll be
waiting to watching that one very closely.

Speaker 3 (29:40):
Yeah, and Sophie, how was the Prime Minister received in
Dunedin today?

Speaker 13 (29:44):
Yes, so, Chris Lackson was down in Dunedin to check
on the flooding recovery, but he was met by protesters
who were instead challenged him on the government's recent announcements
on the Dunedin Hospital. So he was met first at
the airport by a group of protesters and again outside
the Otago Regional Council office. Here is some audio captured
by the ODT this morning. So Luxon spoke, stopped and

(30:23):
spoke to some of the locals at the airport, telling
them they would get their hospital, a line he repeated
later in the afternoon when asked by media, go.

Speaker 14 (30:31):
Fully understand the frustration. It's also frustrating for a government
that's been in power for ten months inheriting this mess
as well. But we are going to build a great
hospital here in Tonedan, but it's going to be at
one point nine billion, not approaching three billion.

Speaker 13 (30:43):
So a huge amount of frustration still in Dunedin Jack
and it doesn't look like it's it's going away anytime soon.

Speaker 3 (30:49):
No, Hey, Kilda, Sophie, thank you. That is Sophie Tak,
a senior political reporter. Right now it is eight minutes
to five on news talks.

Speaker 1 (30:56):
He'd be putting the tough questions to the newspeaker, the
make Husking breakfast.

Speaker 16 (31:01):
You've now got one hundred and forty nine projects that
have got the fast track approval to move to the
next stage. The Infrastructure Minister Chris Bishop is with us
on all of this.

Speaker 9 (31:08):
Beef.

Speaker 5 (31:09):
One hundred and forty nine are going to be fantastic
for the country. Fifty five thousand new houses, consented, one
hundred and eighty kilometers of new road, rail and public
transport connections, twenty two new renewable energy projects with three
kick awats of power. This is what the country needs.
But let's be really clear.

Speaker 2 (31:22):
The problem was easy on at the.

Speaker 5 (31:23):
Moment is that everyone gets their capsule together and then
they go off and spend five years trying to get
resource content for something. In the meantime, the economics have change.
We're trying to create a pipeline of projects around the country.
Whether when the fund then becomes a varlable, you don't
have to start around for five years in the Environment Court.
You can just go and get on with it.

Speaker 16 (31:37):
Back tomorrow at six am, the make Hosking breakfast with
the Jaguar Space used talk ZB.

Speaker 3 (31:42):
So I just did the sums in the air break.
I just want to say how many times Chris Fluxen
has been overseas or to how many different countries he's
visited in the last year or so. Once he goes
to a loo at the end of this week, that'll
be fifteen trips. Now that includes three trips to Australia,
so Australia's doubled up there a few times. The others
are all first time trips. That's really impressive. It's a
great I think it's absolutely fantastic see New Zealand Prime
minister out there as rely I can do this as

(32:08):
regularly as he is. Clearly he kind of he enjoys it.
He sees value in those multilateral summits and forums and
that kind of thing. So yeah, great to see that
he is headed to law. Would you believe the last
time that the missing Muddle Cupper kids were seen together
was twenty twenty two, but now there has been a

(32:28):
credible sighting alongside their dad, Tom Phillips. Police have confirmed
this afternoon that it's a credible sighting. So we're going
to take a close look at that after five o'clock
and we'll ask if it means that police are any
closer to tracking Tom Phillips and his kids down. Plus
we'll get the very latest on the hm NZ Manawanui.
At the moment, it looks like the local authorities in

(32:49):
Sarmor have put various reconnaissance vessels and observation vessels out
there to try and get a really good sense of
exactly what is happening with the Manuwanui wreck. But of
course there is still a lot of concern about the
fuel the ship is carrying, various other chemicals and what
the potential environmental impacts are going to be. So we're
going to take a closer look at that right after

(33:11):
the five o'clock news. News is next. Note it's almost
five of you with Jack tame This is news doalg Zedb.

Speaker 2 (33:22):
Pressing the newswakers to get the real story. It's Jack
Tame on.

Speaker 1 (33:27):
Hither duplic Alan drive with one New Zealand let's get
connected new storg Zedb.

Speaker 3 (33:34):
There are still so many unanswered questions about the sinking
of the HHM NZS Matuanui, still not knowing exactly what happened,
although Defense Minister Judith Collins is suggesting that a power
outage may have caused the ship to run aground. Local
authorities and some more are conducting environmental assessments as there
is concern now about potential oil or chemical spillage. The

(33:55):
Defense Forces only quote acknowledged our request for an interview.
We are yet to get a proper response. Massive University
Center for Defense and Security Studies, John Battersby is with
us this evening though, Kilder John, Hello, how are you? Yeah,
very well, thanks thanks for being with us, even though
the Defense Force won't be, which seems remarkable given the circumstances.
But how bad does this whole situation make New Zealand?

Speaker 12 (34:18):
Look, I think I'm a little bit here and there
on that one. On one hand, yet does it doesn't
look good at all? Right, We've lost a peacetime We've
lost a vessel in peacetime over a reef which the
vessel was supposed to be equipped to be able to
locate and see. And we're two weeks out from Chogham,

(34:40):
which I think all three of our services and our
police are all going to be supporting. So yeah, look,
this is not a good time. It's not a good look.
On the other hand, other navies have lost vessels in peacetime,
they've covered them up and they've looked even Wiln when
that's been discovered. So we have got everybody off. Ob
he's died. Yet there's going to be some environmental damage,

(35:03):
but at the end of the day, I think we've
probably minimized the reputational damage is going to be some.

Speaker 3 (35:09):
Of Yeah, I'm not sure covering it up was really
often given it was on fire on the front page
of the Herald. But look, I get your point. Yeah, yeah,
I get your point. So I mean, just's just think
about the timing of all this, and I want to
say that, you know, the reputational damage is not the
absolute primary concern, right We've avoided loss of life. That's
got to be top, top of the top of the list.

(35:30):
Then environmental concerns, which I'll get to in a moment.
But I mean, you've just had this meeting of defense
ministers in New Zealand. We've got Choggam in a couple
of weeks. Leaders from fifty six countries and some more
are potentially going to be looking at this wreck just
off the coast. Is this incident indicative of the state
of the New Zealand Defense Force, because when you think
about the standard of our housing in the Defense Force,

(35:50):
combined with the Air Force seven five sevens, it feels
like this is becoming a bit of a theme.

Speaker 1 (35:57):
Yeah.

Speaker 12 (35:57):
I think probably. What I would say is that, for
as long as I can remember, our Defense Force does
seem to be depleting. I can remember when we had
six frigates. So we're down to four, now down to two.
I can remember the Skyhawks. So it does seem like
we have under invested in defense. Whether this is a

(36:19):
particular thing caused by that, I'm not going to be
drawn on that. Well, we'll just have to wait and see.
But I think given the geostrategic changes that are going
on in the Pacific, and you're right, there's now this
big conference going on in somewhere, there are things happening
in the Pacific now that if we want to be
a part of those, we want to be able to
see what's going on and influence what's going on, we

(36:42):
might need to look at how we represent ourselves and
the way that our defense force is used in particular
for that, So that's probably something we've got to we've
got a face up to. And I'm not sure it's
specifically because this vessel has sunk. I think this is
a general, a general set of objectives that we've got
and we've got to make sure we've got enough in

(37:05):
the bank.

Speaker 3 (37:05):
Yeah, So what are New Zealand's responsibilities when it comes
to trying to mitigate the environmental concerns here?

Speaker 12 (37:13):
Well, I think we've probably got to do the best
we can in terms of trying to mitigate this. I
mean I think I would see. It's not a big vessel,
it's not nuclear powered, So yes, there is going to
be an amount of environmental damage.

Speaker 6 (37:29):
Caused by this.

Speaker 12 (37:30):
But look, let's go back to World War II in
the English Channel when there are dozens of ships going
down every week. So environmental damage is something that can
be contained. It will pass in time. It's unfortunate, but
we're island countries and we rely on ships all the time,
and the risk of using the sea is every now

(37:51):
and again one's going to go down. So yeah, look,
I don't think I don't want to minimize that. Environmental
damage is horrible. We don't like it, but let's just
keep it in perspective. This could have been a hell
of a lot worse.

Speaker 3 (38:04):
All right, Thanks John, Always appreciate it that as John
Battersbee from Massi University Center for Defense and Security Studies
Jack Team. Police have confirmed a reported sighting of missing
man Tom Phillips and his three children in the Muddle
Karpa area last week is indeed credible. Phillips and his
children Ember, Maverick and Jada have been missing for almost
three years. This is the first time that all three

(38:26):
children have been cited with their dad, the first time
they've been seen together since twenty twenty two. But police
searchers over the weekend turned up nothing more of significance.
Chris Budge is the private investigator still trying to find
the family enders with us now Calder Chris Gooday, Jack,
How significant is this development?

Speaker 8 (38:43):
Oh, I think it's pretty good. There's three things to
pick up from this one. Firstly, as you mentioned that
the kids have been seen, and there's been a lot
of speculational where they may or may not be, but
it's really great that they've been cited. The second one
being is that the police have responded. I understand from
the media that's been is that the police responded with

(39:03):
motor vehicles on the Thursday, and then we're able to
follow up with helicopters on the Friday. Certainly, the community
people that I spoke to on Saturday we're well aware
of the police were around. The third one though, as
I guess the sad one is that there are still
people helping Tom. Tom has been moving around an open

(39:23):
site in vehicles, whether during the dark or during the day,
so I think with a normal escape and evasion concept
is that he's gone to ground or he's got a
safehole and he's just been sitting there for the two
or three days for us to die down. Police will
then head back, and you know, they've said that the
end of the three day operation is there. He'll now
pop out and go to wherever he has been hiding.

(39:45):
But as an overall, I think it's great that the
kids have been seen. The police are reacting, but he's
still out smartness.

Speaker 3 (39:51):
Yeah, what do we know from this report about the
kids state of health? You know, they look all right.

Speaker 8 (39:58):
Well, I can only speak on what the reports are,
but it's if they were seen in the open walking around,
that's a good sign. I understand they were seen around
them at seven pm, so it's but still daylight, so
that they are all good signs. There were certainly towards
the end of last year there was speculation that the
two girls who had gone down to Gloria Vale and

(40:20):
it was only the young fellow that was with his
dad for the photo around around the dairy that we saw.

Speaker 2 (40:26):
We believe the sun was there.

Speaker 8 (40:28):
But it's good that we can you've actually seen the
three and hopefully the wider family going to take that
is a good sign.

Speaker 3 (40:34):
Yeah, that sounds like a wild piece of speculation. So
what would you like to see police do to try
and make more progress on this.

Speaker 8 (40:42):
I think the catch we've got is that there's a
lot of other stuff happening around the area. They've now
got sightings that people are at least safe, but also
that they've seen so I think the way the way
through this is continued intelligence, proactive approach in regards the response.
So everything that's credible, and I think it's the first

(41:03):
time police have used that word credible, which is a
really great word to use. And it's good that they're
still on the pack. So keep doing the good work community. Please,
if you see them, let the police know immediately by
one on one, and I think they're going to be
found by somebody accidentally seeing them, as in this case
on Thursday.

Speaker 3 (41:23):
Very good. Thanks for your time, Chris, I appreciate it.
That's private investigator Chris Budge, quarter past five on Newstalks.

Speaker 5 (41:28):
He'd be.

Speaker 3 (41:30):
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Speaker 1 (42:26):
Hard questions, strong opinion, Jack tam On, Heather Duplicy Eland Drive,
who is one New Zealand Let's get connected at news Talk,
said b.

Speaker 3 (42:35):
Eighteen past five on Newstalk's EDB. Just one change has
been made by Scott Robinson for the All Backs end
of year tour, so cam Royguard comes back into the
thirty six man squad for the Tests against Japan, England, Ireland,
France and Italy which began in a few weeks time.
So is it the right call? It's a stability call really,
or should Raiser have taken a few more risks? News
Talks head b Elliot Smith as well us this evening Yelda,

(42:57):
Georgie Jack, what do you reckon? Conservative, directable, razor.

Speaker 10 (43:01):
Esque, Yeah, I think all three of those, to be honest, checker,
I think it is conservative and relatively predictable. I think
fairly straightforward selections. I guess it was a bit swirling
around whether Sam Kin and t Dap Pettinarra would go
on this end of year's tour, but they both started
the last Test match the All Blacks plays, so it
was always going to be I thought unlikely that one

(43:23):
or both of them didn't make the trip for these
matches up north. How much they play remains to be seen,
but Sam Kaine has been the first choice open side
for the last two Test matches. T Dap Pettinara has
helped bring the likes of Cortez Ratimbu through. So Scott
Robinson clearly thinks there's a bit more to give in
these players as yet, and they're all Blacks careers in

(43:44):
the last five games. But I think it is conservative.
I think there probably was a temptation to maybe look
ahead to the youth and bring some players through with
a night to twenty twenty seven. But the way that
Scott Robinson is at the moment, he's lost three tests
this year. He had to win as many from the
remaining game, so you have to park twenty twenty seven

(44:04):
for now and look at twenty twenty four in the
remaining five test matches.

Speaker 3 (44:08):
Yeah, and it was interesting. He was quite explicit, right
he said today that effectively he had sat down with
both TJ and Sam Kaine and said your role on
this trip is going to be a mentoring role, which
is not to say you won't be having any game
time or anything like that. But he's really put a
significant deal of expectation in them bringing those younger players
through and maybe actually eight weeks or six weeks on

(44:31):
the road is a really good opportunity to do that.

Speaker 10 (44:34):
That's right, And you think of the number of players
the All Blacks lost after last year's World Cup and
that went overseas. Aaron Smith and Sam Whitelock and Dane
Coles and various other players that are no longer in
the All Black set, Brittie Moong or another one. So
they've lost plenty of experience, and I think that may
have potentially surprised Scott robertson how vital experiences at test

(44:56):
match level, how much you need those players not necessarily
playing games, but as you said, Jack, being around the
environment and contributing off the park and going this is
how things have done. This is how you get the
best performance on a Saturday afternoon, Saturday night, whatever it
might be. I think that may well have surprised him.
I don't think maybe they intended to use these players
for as much as they had throughout the season, but

(45:17):
it's sort of panned out that way that you need
these players around the environment.

Speaker 3 (45:20):
So this thing, isn't it. You know, sport is so unpredictable.
I mean that there were plenty of people out there.
I don't know if he would ever have thought this himself,
but there people out there who thought that TJ had
probably played his last test, people out there who thought
that Sam Caine had played his last test. And here
we are.

Speaker 10 (45:35):
Yeah, absolutely, and look the TJ maybe doesn't get in
with Cam roy guard at the start of the year
injuring himself from the Hurricanes, and then TJ gets a
long run of game time and then play some pretty
good breakby so he gets an opportunity, Sam Kine gets
another opportunity, and the All Blacks team and buy and
large has played pretty well. So there has been perhaps
a turn up for the books in many ways that

(45:56):
these players have played better than and many expect and
had more of a run than many expected. I know
there has been calls to take a look at towards
twenty twenty seven, but I think you've still got plenty
of games roughly what twenty five test matches over three
seasons to build All Blacks towards twenty twenty seven. Right now,
you need to be the England, you need to be

(46:17):
at Ireland, and you need to beat France and these
are the players at Scott Robinson's back to be able
to do so over the next few weeks.

Speaker 3 (46:23):
Yeah, yeah too, right, Thanks Eliert, appreciate your time that
as Newstoral's DB's voice of Rugby, Elliot Smith, thank you
for your feedback regarding the mon of Anui Jack. Remember
how angry we all were when that can container ship
hit the Astralay. Brief Yes, very different situation, has to
be said, completely different kind of vessels. The arena was
many times larger than the mon of Anui, which is
not to downplay the potential environmental impact of the mon

(46:47):
of Anui, but slightly different situation. I still think we
need to put everything we can into trying to recover
it and avoid environmental catastrophe. If you want to see
me a text ninety two ninety two is the text
number twenty three past five. VANZ has proposed its latest
changes as it tries to make up the thirty million
dollar hole in its current operation. Now, obviously I am

(47:08):
more than a bit conflicted. I'm a company man. I've
worked there almost half of my life now, and anyone
who has been through any big organizational change in any
company in any industry will understand how painful the experience
can be. So at the moment it's all under consultation.
Some of the changes won't be immediately obvious to the

(47:29):
TV watching or streaming public. They relate to how the
company structured, who is responsible for what, who reports to who?
That kind of thing. TVNZ is proposing to outsource some
of its operations, but perhaps the most concrete announcement we
had today is that they are currently proposing to close
down the news website onenews dot co dot NZ. Now,

(47:50):
I'm not suggesting for a moment that it is feasible
for any commercial media company in New Zealand to run
anything at a significant loss. Honestly, I don't think the
powers that be at TV and ZED have much choice
given the amount of money they have to save in
order to try and return a dividend to the government.
And again, it's not totally clear what the future of

(48:10):
TV and Z is just yet. Although they are proposing
to close the website, they also say they want to
invest in a new, dedicated news team for the streaming
service on TV and Z Plus. And that's great, It's
absolutely great. But regardless of the company and regardless of
the medium, this has been an extraordinarily brutal and uncertain
period for journalism in New Zealand. And look, you can scoff,

(48:31):
you can roll your eyes, you can call me self interested.
But as much as the news business might be like
any other business, I still think the value of news
extends beyond a simple profit and loss sheet this year
has been instructive, right, So over the last few months,
some of those who have been made redundant from Newshab
and TV and ZED and various other outlets have picked

(48:53):
up different jobs working in news, but many haven't. You know,
I've got friends who were working as invest of reporters
at the start of this year who are now working
in PR roles instead. Not because they chose the better money,
or the better ours or the better security, but because
a job is a job, and collectively are we better
for them having to make that shift? Is our society

(49:17):
better for one more spin doctor and one less journo
trying to hold powerful people to account, powerful institutions to account.
I would say no. I definitely say no, and I
just I don't think journalism's value can be measured in
only dollars and cents. But look, the world's changed, media
has changed, and the business models that for so long

(49:39):
were so solid have been completely blown up. Jack T
ninety two ninety two is our text number if you
want to contact me. We're going to take a closer
look at the announcement from TVNZ today, although, like I say,
it's kind of the first stage of the whole proposals, right,
so we don't have confirmation on roles or anything like
that that likely to be effect if it's kind of

(50:00):
the organizational side of things at the moment. We'll catch
up with our huddle before six o'clock as well, get
their thoughts on the impact of the Manamanui and what's
going to mean heading into Choggham in a few weeks time.
News is next though you're jacktame On News dogs ed by.

Speaker 2 (50:18):
Digging deeper into the day's headlines.

Speaker 1 (50:20):
It's Jack tame On, Hither duper se allan drive with
one New Zealand let's get connected News talks' b.

Speaker 3 (50:45):
Six year with Jack tame On News Talks, he'd be
after six o'clock. We will catch up with Finance Minister
Nichola Willis the o c ARE announcement this Wednesday two o'clock.
I think all the big banks now are backing a
fifty basis point cut, so they've all kind of slowly
got there. Whether or not the Reserve Bank gets there
is another story, I suppose, but they were previously split

(51:06):
between twenty five and fifty, and I think now all
the big banks are lined up with the same position
heading into Wednesday's announcement will get them Finance Minister's thoughts
on that very soon right now, Look, Jack, team, It
is twenty three minutes to six and TVNZ plans to
acts its one news website as part of a bid
to say thirty million dollars. The state owned broadcaster told
staff and internal meeting. It also wants to consolidate some

(51:28):
areas of the business to align with its new strategy,
change roster patterns and outsource some areas of the business.
It will invest in news for TV and Z Plus,
and they will create a new center for data and AI.
There is a two week consultation process before any final
decisions are made, and former News Hub head of News
Mark Jennings is with us this evening.

Speaker 17 (51:47):
Calder Mark, Yeah, cure, Jack.

Speaker 3 (51:49):
Are you surprised about the website?

Speaker 14 (51:51):
Call?

Speaker 17 (51:53):
I am a bit to be honest. It must have
been losing a lot of money I think for this
to happen, because I can't think of another major news
organization or major broadcaster anywhere around the world that doesn't
have its own dedicated website and app. So yeah, I'm surprised.

Speaker 3 (52:15):
Well, I think in recent months TVNZ has started to
put more of its news content on its streaming service
because the TVNZ plus has been a real success over
the last few years. But is it as simple as
moving audiences to that platform.

Speaker 17 (52:31):
No, I don't think it is. And you, as you
described that it is a streaming video site TVNZ plus,
I don't know that that's where people will naturally go
when they want to find out the latest news story,
and it's certainly that site. I don't think it'll be
able to send you a notification either, So it feels

(52:54):
to me like this really is a bit of a
setback or one news.

Speaker 3 (53:01):
Yeah, yeah, it's I mean thirty million dollars they've got
to save, and they've been really open about that. Do
you think it is viable for a broadcaster like TV
and Z in twenty twenty four to be making high
quality local content that goes out on linear TV and
is streamable online and returns a profit.

Speaker 15 (53:23):
No.

Speaker 17 (53:23):
I think the freedom were industry is really struggling. And
I listening to you earlier, and you made the point
that it's got to be about more than money. I
think in terms of its news service, I mean we've
seen news Hub now three News really eviscerated. Really the

(53:45):
stuff bulletin is really nowhere near what news Hub was
doing and now where I think was that we're going
to see the start of that process at TV and
Z because look, getting rid of of the website and
probably it's digital team that produced content for that site,

(54:07):
it's not going to save thirty million, it's not going
to save anywhere near it.

Speaker 15 (54:12):
Now.

Speaker 17 (54:12):
I know they've suggested other things, but some of those
other things look like increasing costs rather than saving them
to me, like the.

Speaker 3 (54:23):
New AI years and data center. Well, I suppose you know,
if you to cover a thirty million dollar hole, you
can cut costs. You've also got an option to try
and increase revenue. But doing those two things at the
same time is never easy, no, And.

Speaker 17 (54:38):
We've seen if we go back I think twenty twenty one.
You know, chivan Z was a three hundred and forty
million dollar revenue company. Now it's a two hundred and
eighty eight million dollar company, and it might end up
at a two hundred and fifty million dollar revenue company.

(54:58):
So the revenue side is not going well at all.

Speaker 3 (55:04):
I'm sure they're hoping that things are going to turn
around as their economy bounces back. Thank you very much
for your time, Mart, We appreciate it. There as the
former head of news for news Hub Mark Jennings. Right now,
it is nineteen to six The Huddle.

Speaker 1 (55:15):
With New Zealand Southerby's International Realty, local and global exposure
like no other.

Speaker 3 (55:21):
On the Huddle this evening Trish Hurson from Sherson Willis
pr and Josie Beganni from child Fun New Zealand. Helder
Corder Kyoda, Kelda Josie. Let's start with ht mens s Manouanui.
I mean, just how big is this?

Speaker 4 (55:34):
You know?

Speaker 3 (55:35):
I just think some of those images have been extraordinary.

Speaker 18 (55:37):
Oh my gosh.

Speaker 19 (55:38):
I mean they're on the front page of the Times
in London, you know, sinking New Zealand ship.

Speaker 18 (55:44):
It's not in no way is this good. It doesn't
look good.

Speaker 19 (55:48):
I mean, of course we don't know why it sank.
We don't know whether it's a problem with equipment or
you know, the Defense Force has been saying they've been
losing staff at an alarming pace. Is it that they
didn't have the right you know, expertise on the boat.

Speaker 18 (56:02):
Who knows? We just don't know.

Speaker 19 (56:03):
Did they buy apart from Boeing it would be anything.
So we have to wait until we get an investigation.
But yeah, it's embarrassing. I mean one thing I would
say though, Jack, you know I work in the aid sector.
You know, we do a lot of emergency humanitarian sponsors
in the Pacific, and the New Zealand defense forces generally are.

Speaker 18 (56:20):
Really well respected.

Speaker 19 (56:21):
I mean they go in they're not like, you know,
no disrespect to the Aussies, but not like other countries
where that we know.

Speaker 18 (56:27):
How to do community ledstone.

Speaker 19 (56:31):
I don't think it ruins that reputation of us in.

Speaker 18 (56:33):
The Pacific, but it does not look good. There's a
terrible metaphor for.

Speaker 3 (56:37):
Thinking there's a terrible metaphor and terrible timing like all
the places, yeah them half an hour out of arpiatriction.
I mean, this is this is really yeah, suboptimal, to
say the least, sub being the key word.

Speaker 20 (56:54):
Yeah, it's it's It's bad, isn't it? Because I think
this year a lot of New Zealanders have had a
sort of a sinking feeling and this is kind of
the ultimate symbol of it. I think there's there's there's
three things. So number one, you know, the crew got
off safely and and that is always a good thing.

(57:18):
Number Two, as you've pointed out, Jack, environmentally, this couldn't
be you know, this couldn't be more concerning. So you've
got a ship that goes down, it's got all of
it's all of it, you know, tank a full of
gas and oil and whatever else on board, and it's
gone down, not only you know, just off off the

(57:41):
coast of a beautiful island. It's in the marine protected area.
And New Zealanders will remember the wreck of the Renner
of the astrolab reef and the Bay of Plenty. That
was our worst environmental disaster. Not only marine life but
seabirds were impacted. And the problem about the Mina Wenui

(58:02):
now actually thinking and we don't know how deep it's gone,
but it could take several years for environmental impacts to
show up because as the ship if this, if the
fossil fuel isn't taken off it, as the ship breaks down,
then you get leak over time and again particularly sensitive

(58:22):
area around a coral reef. So you know, my heart
also goes out to the local village and you know,
and to the people of some are because if this
was us, like we had to watch the Rena breakup.
It's really really it's really worrying.

Speaker 3 (58:38):
There's something there's something like really sickening about watching a
ship go down.

Speaker 19 (58:44):
It's a very it's quite an emotional it is.

Speaker 18 (58:48):
It's an emotional thing, which is why I think you're.

Speaker 19 (58:50):
Right Trish, that there's just there is just a sense
of that's kind of if you had to put an
image on twenty twenty four, that'll be it for us
in New Zealand.

Speaker 18 (58:57):
It does feel like that.

Speaker 19 (58:59):
The one thing perplexes me is why Juth Collins was
being so coy about insurance, because it's quite normal for
government not to ensure things like navy ships, right, I mean,
is it well we have I mean navy ships by definition,
are you know, going into risky places.

Speaker 3 (59:15):
And so on, and that ensured to some things or
something some things.

Speaker 19 (59:18):
Yeah, But I mean why be coy about it because
we know that government. You know, the cost of capital
is a lot cheaper for government. We can borrow much
cheaper if your government. It's not like your house, right,
the house burns down, that's gone.

Speaker 18 (59:28):
We buy a lot.

Speaker 19 (59:28):
Well, we should be buying lots of things like this anyway.
It's an interest I don't quite know why she was
being so coy about it.

Speaker 3 (59:35):
Okay, look, we'll be back with the huddle in a moment.
Josie Pigani and Trishearson last you guys about TV and Z.
Right now it is fourteen to sex.

Speaker 1 (59:43):
The huddle with New Zealand Southeby's International Realty. Elevate the
marketing of your home.

Speaker 3 (59:48):
Josey Bigani, trishous in our huddle this evening, Trash TV
in deed has announced the first part of its latest
organizational changes, a thirty million dollar hole. Day are trying
to fix at least just the tough calls that need
to be made.

Speaker 20 (01:00:04):
I think they are, Jack, And what I wanted to
pick up pick you up on was the sort of
waiting in whether it's better to have someone in overall
for the country, whether it's better to have someone in
PR or journalism.

Speaker 3 (01:00:23):
The reasons versus Jack, It depends on what kind of
PR and what kind of journalism. Let's just say that
and call it a tie to the reader side. Guys.

Speaker 20 (01:00:34):
But I think look that the thirty million revenue hole
has been well signaled, and you know, like any business
teving said has to look at you know where it's
going to make those savings from. I think what is
bad overall, and you touched on it also is this

(01:00:55):
is this is consolidation by closure in the in the media.
So you had news Hub closed down, remember their website
total closed and so what you know the winners out
of this ultimately, if you're just thinking about online eyeballs,
the winners are going to be Stuff and the New

(01:01:17):
Zealand Herald websites who are battling it out survey to
survey for the number one news website. But you know,
it sometimes feels like in New Zealand, in media and
in a lot of industries at the moment it's sort
of a you know, a puddle in the desert that's
just getting smaller and smaller. And you know, having a

(01:01:40):
background as a journalist, I don't think that is a
great thing.

Speaker 3 (01:01:44):
Yeah, yeah, I mean diversity in everything is good, usually
certainly in the news business. What do you think, Josie,
is this just inevitable? I mean, thirty million dollars is
just it's a vast sum.

Speaker 19 (01:01:57):
Yeah, in the industry is changing, that's the reality. I mean,
We've all got people we know and friends who are
in the media and you worry about it. It's the
second time this has happened at TV and Z. But
at the same time, there are people losing the jobs
all over New Zealand at the moment, which is pretty tragic.
And we've got two hundred and thirty I've got Cousins

(01:02:17):
Windstone Pulp and paper mills, method X may lose seven hundred.
And I think there's a tendency for us to focus
in the media on jobs in the media.

Speaker 18 (01:02:27):
Or the public sector.

Speaker 19 (01:02:28):
And actually this is happening right across the country. But
the other thing I would say about TV and said,
I didn't even know there was a TV zed news website,
and I'm very motivated to go there and I just
go to I go to stuff, I go to Herald,
I go to the Post, you know, and I think
that is a problem, right, So I do think maybe

(01:02:48):
looking at combining Radio New Zealand, TV ands AD websites
so that they can compete on a level playing field.

Speaker 18 (01:02:55):
With the Herald with stuff and so on.

Speaker 19 (01:02:57):
So change does have to happen.

Speaker 18 (01:02:59):
And the industry changing.

Speaker 15 (01:03:00):
You know.

Speaker 19 (01:03:00):
Look, it's taken a long time for people to come
off landlines, off you know, checks and I do think
linear TV we know it's going, so it's a transition.
You have to keep it going for some people who
watch it, but there's a hell of a lot changing
in the industry.

Speaker 3 (01:03:13):
It does have to change, all right, Wednesday's a big
day for the OCO. What are you picking twenty five
or fifty trash?

Speaker 20 (01:03:20):
Well, the one thing I do know is the economists
haven't got a clue and I would absolutely not put
money these days on what the Reserve Bank is going
to do. And probably if economists is saying fifty basis points,
it'll be a twenty.

Speaker 3 (01:03:34):
Twenty five, Yeah, totally. What do you think?

Speaker 19 (01:03:35):
It reminds me of the joke of the shipwreck and
the economists says, I've got an idea of how we've
got no food.

Speaker 18 (01:03:40):
We've just got tens and no.

Speaker 19 (01:03:41):
Can opener, and he starts off by saying, imagine we
had a tin opener.

Speaker 3 (01:03:45):
Yeah, so yeah, you're right, trash.

Speaker 19 (01:03:47):
But look, it has to go down. I mean, the
economy is flailing, its grinding to a holt. But the
problem is the national came in reverse, the the ability
for the Reserve Bank to look at more than just
pricing and inflation. They can't legally look at the economy
and John, I feel like.

Speaker 3 (01:04:02):
They do that anyway. I'm not totally convinced that having
that dual mandate actually made much of a difference personally.

Speaker 19 (01:04:09):
See Jack that legally they can't look at both the directive.

Speaker 3 (01:04:14):
Yeah, I hope.

Speaker 18 (01:04:15):
Adrian is and yes it should be fifty.

Speaker 3 (01:04:17):
It should go down all right, guys really appreciate it.
Josie Bigani, intristious and our huddlers this evening right now
seven to six on News Talks.

Speaker 1 (01:04:25):
He'd be on your smart speaker, on the iHeart app
and in your car on your drive home. Heather duple
c allan drive with one New Zealand one Giant Leap
for Business News Talk.

Speaker 3 (01:04:39):
Thank you very much for your feedback on news Talks,
he'd be Jack. I think it's absolute bollocks that anyone
should play down the ship sinking, as far as I'm concerned,
his breath, there's an utter embarrassment.

Speaker 2 (01:04:48):
Jack.

Speaker 3 (01:04:48):
In the Second World War, millions of tons of ships
sunk all around the Pacific Islands, mostly oilers. The munitions
all went to the bottom of the ocean as well.
In many cases it's still there. What was the ronmental damage.
Then as far as I can say, we're all too precious. Now,
oh I don't think we don't think we're precious in
this in this situation, it's not truthfully, it's not very

(01:05:09):
far offshore from what I understand about the Monimnui. I
mean it hit the reef from all accounts as clear
it was clearly visible when it was going down. So
it's very close to the shoreline and obviously the environmental
concerns are going to be significant. But thank you very
much for your feedback. If you want to send us
a message, the easiest thing to do is to flip
your text. Nine two nine two is our text number.

(01:05:31):
You can email on the as well Jack at NEWSTALKZB
dot co dot nz. So you know, everyone absolutely freaked
out about the price of electricity and the role that
the Gen Tailor's structure might be playing in the price
of electricity. A couple of months ago, well, there's new
analysis out that shows the power company's investment into new

(01:05:52):
generation dropped significantly after they were listed, which is intriguing
and certainly from the Gen tailor's arm. Already, the suggestions
have been that actually the gentailors lacked any real financial
incentive to dramatically increase generation capacity, because why increase generation

(01:06:12):
capacity if that's going to bring the price of electricity
down and you're the one selling that electricity anyway, We're
going to ask the Finance Minister about that very shortly,
plus get her thoughts on the OCR announcement this week.
I think must be what the second to last one
for twenty twenty four one more in November as well.
But two o'clock all lies on the Reserve Bank this
Wednesday as they presumably pack either a twenty five or

(01:06:35):
fifty basis point cup. It's almost six o'clock on News
Dogs EDB.

Speaker 1 (01:06:41):
We're Business meets Insight the Business Hour with Jack Tame
and My Hr on News DOGSB.

Speaker 3 (01:06:57):
News Dogs dB. You were Jacktam and for heav Douplicy Allen.
She is having a well deserved break. Before seven o'clock
we're going to get a Westpax Chief Economists. They have
updated their forecast. It's being a fifty basis point cut
when the Reserve Bank views the OCR come Wednesday. Right
now though, it's seven minutes past six and time to
catch up with Finance Minister Nicola Willis, who is in

(01:07:19):
for a weekly check Kielder, Kyoto Jack. We'll get to
the i CR in a couple of minutes, but I
want to start off with atmens Manawanui and just just
awful to see you know that that situation off the
south coast of Upula and Samoa. In what ways is
this incident going to cost us?

Speaker 21 (01:07:38):
Well, I look obviously terrible and horrible for everyone who
was on board, and in fact all members of the Navy,
who I'm sure feel very distressed to see one of
their vessels submerged like that and to think of the
danger that existed to human life. So I think the
most important thing is that we have come through without
any loss of life. Yeah, the costs now are obviously

(01:08:02):
about salvage and cleanup. It's really important that New Zealand
does its absolute best there for the people of sar More,
the ship itself had the equivalent of third party insurance
to provide some cover for that salvage and clean up.
The ship itself isn't covered by insurance, and so obviously
we will need to replace that capability in the future,

(01:08:24):
which will come with a cost.

Speaker 3 (01:08:25):
Right, Okay, So let's start off with the with the
cleanup cost you. So it's got the equivalent of third
party insurance. So does that mean that the entire salvage
and cleanup is covered or are we on the hook
for some of that as well?

Speaker 15 (01:08:40):
I've been advised that it provides some cover.

Speaker 3 (01:08:43):
Jack some cover?

Speaker 1 (01:08:45):
What?

Speaker 15 (01:08:45):
Some cover? What?

Speaker 3 (01:08:46):
Can you tell us more about that? How much is that?

Speaker 21 (01:08:49):
I don't have those details. I've just been advised that
it has some cover for salvage.

Speaker 3 (01:08:53):
And clean up, right, okay? And so would it be
a percentage or a dollar sum? Do you think that
would be covered?

Speaker 21 (01:09:00):
Well, obviously that'll be a discussion with the insurance company
involved and with the Defense Force. So I'm not able
to go into any details about that.

Speaker 3 (01:09:08):
But the ship itself isn't insured.

Speaker 21 (01:09:11):
No, Historically, Royal New Zealand navy vessels aren't insured due
to the prohibitive cost. That's been the case of a
successive governments and over many decades. And even if policies
like that are purchased, they've got such limitations and exclusions
and conditions that they're not really a viable product.

Speaker 2 (01:09:31):
Right.

Speaker 3 (01:09:31):
So, basically, for one of a better term to put
this in civilian context, that the premiums are too expensive
so we don't we don't ensure our naval ships. What then,
is your best estimate at the stage for if we
put the cost of replacing the ship to one side
and don't include that, what is your best estimate at
the stage for the cost of this incident to the

(01:09:51):
New Zealand taxpayer.

Speaker 21 (01:09:53):
I don't have an estimate of that cost yet, but
I'm sure that people listening join me being grateful that
we haven't had any loss of life, that we're thankful
to the people of Sama who were so quick and
effective in their response. And now we will work through
the other issues, the salvage issues, the financial issues, and

(01:10:15):
we're already doing a defense capability review as a government,
and obviously there's now another capability that we need to
add to our future plans, one that we thought we
had last week but don't have today.

Speaker 3 (01:10:26):
Yeah, excuse these really just obvious questions. But is it
possible from what you understand, that we will be able
to salvage the entire ship off the reef, that will
be able to remove it. I get it that it's
not going to be sailing again, understand that, But are
we going to be able to get the whole.

Speaker 21 (01:10:41):
Thing off, I haven't had a briefing about the details
of that. I think in the first instance, our focus
is on reducing any environmental damage or any danger to others,
So that's the initial focus in terms of what practically
happens here. Sorry, you've got the wrong minister. I think
Minister Collins probably have a bit more detail on it
than I do.

Speaker 3 (01:11:02):
Know all good, I understand that is this embarrassing for
New Zealand.

Speaker 21 (01:11:07):
Oh look, I think in this instance no one likes
seeing a ship go down, But as I say, I'm
just grateful that there hasn't been loss of life, and
that is the most important thing. Is now a court
of inquiry, and I'd be very hesitant to make any
judgment ahead of having the facts on the table, So
I wouldn't I wouldn't jump to say that there's any

(01:11:29):
embarrassment they're.

Speaker 3 (01:11:30):
Being said, like, you know, you combine this with the
seven five sevens, the state of defense housing, like, there
are a lot of people who would say that perhaps
the investments over time that are required from the New
Zealand Defense Force to be ready for the world as
it is today have not necessarily been made.

Speaker 2 (01:11:50):
Well.

Speaker 21 (01:11:50):
Look, as I say, I think it would be really
jumping to a conclusion to say that that those were
the issues that were at play here. Obviously, there's been
a terrible accident. We don't know the cause yet. It's
too early to apportion blame or responsibility or understand the
underlying drivers. We do need to find out exactly what
happened and draw conclusions after that. That's what the Court

(01:12:10):
of Inquiry process is about the.

Speaker 3 (01:12:12):
Health New Zealand deficit.

Speaker 21 (01:12:13):
You surprised, Well, look, these are exactly the issues that
we have sent leicster Levy in to help us fix up.
We knew that there were emerging issues in which Health
New Zealand was not keeping to the budget it had
set for itself, and we're grappling with those issues, right.

Speaker 3 (01:12:32):
Yeah, I mean it's it just seems like the cost
on these front seem to grow and grow and grow
and grow. How much more money does the system need?

Speaker 21 (01:12:43):
Well, we as a government have committed to increase the
amount of funding for Health New Zealand every year that
we are in office by considerable amounts. We accept that
its budget is going to keep rising. That's just the
reality of the needs that Zealanders have from our health system.
So we have committed sixteen point seven billion over the

(01:13:05):
coming years. That includes five point seven billion and the
budget just passed in pre commitments of five point five
billion against each of next year's budget and the budget
after that. So we accept that more funding's necessary. But
even when you're putting in billions more as we are,
you still need the organization to be able to run

(01:13:26):
a budget and stick to its budget.

Speaker 3 (01:13:29):
TV and ZED has announced another big organizational change. We
don't have heaps of detail yet on the roles that
are likely to be affected. However, they're obviously trying to
make up for a thirty million dollar bill. I've got
a big, big, big picture of question for you here.
Do you think it is possible for a company in
this day and age to produce high quality New Zealand

(01:13:50):
content for TV and streaming whilst also returning a profit.

Speaker 21 (01:13:56):
I think it is possible, Jack, and I think that
it will be done differently in the future from how
it's been done in the past. The way that people
consume news now is so different. They consume it on
their phones, they consume it at the time of their choosing.
They get to it through social media, websites and other channels,

(01:14:17):
So the nature of how we consume news is changing,
but I still think there is a real audience out
there for high quality New Zealand content. And obviously my
thoughts are with everyone at TVNZ as they go through
this really difficult.

Speaker 15 (01:14:32):
Period of change and uncertainty.

Speaker 21 (01:14:35):
It is something that we're seeing for media outlets around
the country and around the world because it's a sector
that has just been massively disrupted by the Internet and
has made big changes. But as I say, I think
in the end, people want authoritative news that they can trust.
They want local content, they want local stories, and I
think they'll continue to be a place for that.

Speaker 3 (01:14:56):
It's it's not just the news though, right And this
is the big angel tv Z. I mean, I mean
when you talk about local content, it's all of those
other you know, local TV shows. And the truth is
I mean, if you were just concerned with returning a profit,
you could just put on you put on the Chase
twenty four seven or something like that, and and and

(01:15:16):
you know people would watch, advertisers would pay, but you
might not reflect New Zealand in the same way. Do
you think that we love.

Speaker 21 (01:15:23):
Seeing our own stories and our own culture and our
own extent on TV tune, short line Street.

Speaker 3 (01:15:30):
Yeah, they just cost so much money though, right, like
compared to competitor shipping in the chase.

Speaker 21 (01:15:35):
Look, they do come with a cost, and I think
that there will continue to be an audience for them,
and so how they how they marry up that cost
versus that audience and how they bring that together is
obviously a matter for all those media experts. But if
you ask me, is there a future audience that is
going to generate enough revenue to justify those sorts of

(01:15:56):
products in the future.

Speaker 15 (01:15:57):
Yes, I'm optimistic there will be.

Speaker 3 (01:15:59):
What project are you most excited about on the fast
track list?

Speaker 15 (01:16:04):
Oh, that's a good question. Of course.

Speaker 21 (01:16:06):
I have to say doubling the Mountain Vac Tunnel because
that's an overdue project here in Wellington that I've campaigned
for since I became an MP.

Speaker 15 (01:16:15):
But look, the most exciting thing to me.

Speaker 21 (01:16:17):
Is fifty five thousand new homes being consented across multiple projects,
big housing projects. That actually, here's people willing to invest
in private money, developers who want to get on and
build those homes. What they need is the consent and
fast tracking that so we bring new homes to market
that's how we address our housing affordability issues in this country,

(01:16:40):
and that's one of the issues that I am government
want to be part of.

Speaker 3 (01:16:43):
Solving twenty five or fifty basis points.

Speaker 15 (01:16:47):
Well, the markets are picking fifty, aren't they.

Speaker 2 (01:16:49):
Jack.

Speaker 15 (01:16:49):
I've got to stand my lane. I've got to stand
my lane.

Speaker 21 (01:16:52):
But it's interesting all the big bank economists and I
see you've got Westpac coming on later, they're all saying fifty.
So that's the way the markets leaning. And ultimately it
will of course be up to the Monetary Policy Committee
and Adrian or to make their decision. But the only
way seems to be down.

Speaker 3 (01:17:09):
Thanks for your Tom, we appreciate it. That is Finance
Minister Nikola Willis seventeen past sixty with Jactaim on Newstalks EDB.

Speaker 2 (01:17:16):
Crunching the numbers and getting the results. It's heather due
to c Ellen with the business.

Speaker 1 (01:17:21):
Hours thanks to my HR, the HR platform for SME
on Newstalks EDB twenty par.

Speaker 3 (01:17:28):
Six on Newstalks dB. Yeah, big news this week from
the Reserve Bank and its next OCR decision. We're going
to have a closer look at this after six thirty
with west Pax chief economists, But what are the capital
markets expecting? They are expecting fifty points fifty basis points
harbor asset Management. Shane Sally is a weather US this
evening high Shane, Yeah, he Jack, Yeah, they're pretty much
going fifty right.

Speaker 22 (01:17:47):
Well, look, it's odds on. I think there's plenty of
ammunition for the bank assumingly think about it, and if
I look at what the capital markets are actually pricing. Again,
if we look at official rates next year this time
next year, the markets assuming they'll about two point nine percent,
that's down two point three five percent from what we
are now. So he has the ammunition. Perhaps some more

(01:18:10):
measured reduction might give us some more amminition in case
there's another tough time. But I think he's going to
have to move.

Speaker 3 (01:18:17):
Yeah, what about going forward?

Speaker 22 (01:18:20):
Yeah, look, I think this is the case that we've
seen with the Federal Reserve as well. Go and do
the fifty and everything now is measured, it's twenty fives.
Get used to this. We're going to be data dependent.
Similar story here.

Speaker 3 (01:18:32):
I think Over says the US markets are liking the
falling interest rates.

Speaker 22 (01:18:37):
Yeah, look, I think it's been a bit of a
goldilocks in the US. We saw some stronger jobs numbers
out in the US on Friday than expected. That's perhaps
taking the pressure off the US Federal Reserve to keep easing. Certainly,
we're seeing that sheer market continue to riley with the
economy strong enough to keep earning his going interest rates
not high enough to stop evaluations from going up to

(01:18:59):
see good mix.

Speaker 3 (01:19:00):
Yeah, but what are the ongoing conflicts in the Middle
East and Ukraine meeting for some of those tensions.

Speaker 22 (01:19:06):
Yeah, the markets are quite cautious, really watching closely. Certainly
every weekend people get very anxious. Why weekends, because that's
when we can't act on it straight away. But this
broadening an action if it does occur, you know, in
addition to really creating some human misery, creates potential supply
chin isshes and masis inflash for what does it mean

(01:19:28):
for us if we all price goes up on the
back of supply, that's a problem for US that sees
lower growth. Shee's inflation up creates he wins for central banks.

Speaker 3 (01:19:37):
A market's still happy shame with China's bid to sub charge.

Speaker 22 (01:19:40):
Its Yeah, look, we've had a really amazing sharp rally
on the back of this it was a pretty meaningful
set of surprise stimulus. But we haven't seen all the
details yet. There's a big meeting tomorrow the INDERC. It's
due to come out to one o'clock our time with
some detail after they've come back from Golden Week. That
is actually going to be really important. That might see

(01:20:01):
a bit more fire in the story. Whether they get
more policy or just detail, it will be the key.
So yep, still firing.

Speaker 3 (01:20:09):
Very good. Hey, thanks Shane, appreciate it. Thank Shane Solely
from Harbor Asset Management. Thank you very much for your
feedback too. Justin has texted me to say, Jack, has
anyone asked how this state of the art ship designed
to see and plot every inch of the ocean floor
managed to park on a reef that is well known
to be there. Perhaps it does not need replacing. Yes,
I think very good, Justin. I think I think you're

(01:20:34):
not the only person to have asked that question. Let's
put it that way. It is going to be very
interesting once we get a bit more detailed on the
cause of the Mudomanui's thinking. But thank you for that.
If you want to send us a message, nine two
nine two is the text number twenty three past six.

Speaker 2 (01:20:49):
Whether it's macro micro or just playing economics.

Speaker 1 (01:20:53):
It's all on the Business Hour with Jack Tam and
my HR the HR Solution for busy SMEs.

Speaker 3 (01:21:01):
Look, I know that the Monoanui situation is kind of memorable,
and I would be lying if I said that I
hadn't attempted to make a few jokes about it as well.
But there's a good message here on the text machine
that I'll share with you. Jack. I'm finding all the
media on the monow Anu pretty upsetting. I really don't
think people have given much thought about the families and
what they have to listen to. My husband's currently away

(01:21:21):
on another Navy ship. He's been away since June. I
just really wish the New Zealand public would have some
respect and thought for how we all have to deal
with it. Yeah, look, I totally get that. I can
imagine it is really distressing, not just for people who
had family on the Monay on the Monoanu, but people
who are connected to the Defense Force. Thank you for that,
Kristin says Jack. I'm really tired of some of the

(01:21:42):
retric around our defense Force. It's obvious that our Navy,
Air Force and Army are in dire straits in terms
of their supplying over the last couple of years and funding.
Thanks for that, Kristin, I appreciate it. After six thirty
on News Talks, he'd be wes Pax chief economist is
going to be with us, give us her thoughts on
the likelihood of a fifty basis points cut. All the
major retail banks now picking a fifty point cut on Wednesday.

(01:22:06):
Plus we will take you to the UK and Europe
before seven o'clock as well. It's almost six thirty. News
is next. You were jactaimed. This is Newstalk's EDB.

Speaker 1 (01:22:19):
Everything from SME's the Big Corporates, The Business Hour with
Jack Taine and my HR the HR solution for busy
SME on NEWSTALKSB, News Talks EDB.

Speaker 3 (01:22:45):
It is twenty five six on Monday evening Jack tame
in for Heather. So there's been a bit of tension
between some followers of Destiny Church and pro Palestinian protesters
this afternoon outside TVNZ's HQ in Central Auckland. Today is,
of course October seventh, the anniversary of the October seventh attacks.
There were probably thirty thirty five ish police officers separating

(01:23:09):
some of the supporters of Destiny's Church and the protests
as they gathered outside TVNZ this evening. Right now it
is twenty five to seven team and the big call
comes this Wednesday two pm the OCR. We should get
an update from the Reserve Bank on the OCR currently
of course, sitting at five point twenty five percent, after

(01:23:32):
the Reserve Bank cut the rate for the first time
since twenty twenty in August, so the decision is the
second to last for this year. At the moment, all
retail banks are forecasting a fifty point cut is on
the way. WESTBAC Chief economis Kelly E. Coult Is with
us this evening. Kilder Kelly, Hi, yeah, very well, thanks.
So why are fifty basis point cut now? What's driving this?

Speaker 6 (01:23:55):
Well, it's increasingly looking like the CPI will print very
close to to sent perhaps even before the end of
the year. So you've got a Reserve Bank that only
has a single mandate now, which is one to three
percent inflation. So it's getting increasingly difficult for them to
justify having interest rates as high as they've had to

(01:24:16):
have them in the last couple of years to bring
inflation down.

Speaker 3 (01:24:19):
Just remind us when's the next CPI update.

Speaker 6 (01:24:23):
The next CPI item is going to come out next week,
next Wednesday, right.

Speaker 3 (01:24:27):
Yeah, okay, so we're expecting that to be I mean
to anything close to two percent by think of this
year would be fantastic in terms of the fight against inflation.
But with that staring them in the face, given the
dual mandate has gone, you reckon the argument over twenty
five and fifty leads it in favor of fifty.

Speaker 6 (01:24:48):
Yeah, well, we do get a better guide on what
the CPI are going to do now they have the
monthly selected price and decease. So what those have shown
us that even since August, it looks like in FA
is going to be tracking a bit lower than what
even people thought back then, and that was when the
Reserve Bank actually cut the ocr by twenty five basis

(01:25:08):
points unexpectedly. So there's a pretty good basis to think
that we will be pretty close to that two percent number.
And we've got to remember that, you know, perhaps even
just six months ago, the forecast for the end of
the year was going to be around about three percent.
So there's been quite a bit of progress since This.

Speaker 3 (01:25:27):
Will seem Sallie, But for two or may seems like
I said a question, But for a two pm announcement
on Wednesday, how late do the Reserve Bank leave the call?

Speaker 6 (01:25:36):
Well, I mean they'll be making their decision probably around
about now, I think, and probably deciding tomorrow exactly how
to write it up. So they will have been in
discussions probably now for a two or three days.

Speaker 3 (01:25:49):
Yeah. Just how much will broader parts of the economy
right now be factoring in that decision? Are there are
parts that will be concerning for the Reserve Bank?

Speaker 6 (01:26:01):
Yeah? Well, I think the tone of the economic data
it's been a bit two paced. On one hand, there's
some forward looking indicators that suggest that the economy is
going to respond pretty well to lower interest rates, But
the other bits of the data, which gives you a
good sense of where the economy is here and now,
still looks like we're going backwards. And I think that

(01:26:24):
will be the area that should have the concern from
the NPC, because it's going to take a while for
the economy to go from going backwards to going forwards
at a decent clip, and that downward pressure on inflation
is going to continue.

Speaker 3 (01:26:38):
So just be specifical with us THEE Kelly, what do
you mean what areas are still going backwards?

Speaker 6 (01:26:43):
Well, particularly business investment and the labor market in particular.
In that labor market in particular, when we looked at
the quarterly survey our business opinion, looks like firms are
still looking to cut costs, and one way they cut
costs is by lightning the number of workers said.

Speaker 3 (01:27:00):
I don't think unemployment was forecast to peak until maybe
Q two of next year, right, five point two, five
point three percent, So there's still a bit of way for.

Speaker 15 (01:27:10):
It to go.

Speaker 6 (01:27:11):
Yeah, the unemployment rate will always tend to lack the
economic activity. The economy has been going sideways to backwards
now for about eighteen months or two years. The unemployment
rate has taken longer to rise, but it's definitely in
the boost phase now. Pretty confident that we'll be printing
a five percent unemployment rate when the data for the

(01:27:32):
September quarter of prints next month, and you know, we'll
probably peak somewhere around five and a half in the
middle of next.

Speaker 3 (01:27:39):
Year, which is higher than I think both Treasury and
RB and Z had been forecasting of the last twelve
months or so.

Speaker 6 (01:27:47):
It's a little bit higher, Yeah, I mean, but in
the end, I think it's a relatively good outcome compared to,
for example, what we saw in the global financial crisis. Wheah,
the unemployment rate had to go, it went over six percent.

Speaker 3 (01:28:00):
It's a lag comparable or both on the way up
and the way down.

Speaker 6 (01:28:04):
In terms of the flow through of the unemployment rate,
it's probably fairly comparable to the performance of the economy.
So that's why we sort of watch the GDP numbers
pretty closely.

Speaker 3 (01:28:17):
What will be the market reaction on Wednesday? If the
Reserve Bank sticks with twenty five and doesn't go fifty.

Speaker 6 (01:28:23):
Well, the market's got about an eighty percent chance of
a fifty basis point cut pricet in. So if they're
disappointed in that regard, then very short term interest rates
are going to rise by the amount of that disappointment.
But what happens to longer term rates is really going
to depend on what the Reserve Bank says while it
delivers that message. If they're saying, well, we're cutting twenty

(01:28:45):
five now, but we're open to moving a bit more
quickly next month, perhaps after the CPI, then I would
say the markets will stick to their guns and would
still anticipate some pretty chunky reductions and interest rates before Christmas.

Speaker 3 (01:28:58):
Yeah, what are you expecting in November?

Speaker 6 (01:29:02):
I think they'll cut the o c R by fifty
basis points in November, because you know, we're at five
point twenty five now. Even if they took one percent
off the rate before Christmas, it's above where my estimate
of where the neutral kind of hit rate is, and
it's quite a bit above where the Reserve Bank stays
they think it is. So given the lags, it would

(01:29:22):
seem prudent to perhaps take a bit more restriction off now.
It's a pretty big gap between when they do the
November monetary policy statement and when they do the February
Monty policy statement next year.

Speaker 3 (01:29:34):
Yeah, that's right, and they'll be concerned about that presumab So,
where do you see the neutral rate as being compared
to the Reserve Bank?

Speaker 6 (01:29:42):
Well, I think the OCR is sort of terminal or
neutral rate probably be about three point seventy five percent,
whereas the Reserve Bank's view is somewhere closer to three percent.

Speaker 2 (01:29:54):
Right.

Speaker 6 (01:29:55):
I will emphasize there's a lot of uncertainty about these things.
It's it's not implausible that even my estimate's a bit light,
or you know, perhaps it goes a bit lower. We'll
only learn that as we look at how the data
it goes over time.

Speaker 3 (01:30:07):
Yeah, what do you make of the feed?

Speaker 6 (01:30:12):
So the Fed obviously did that unexpected fifty basis point
change last time. They seem to get a little bit
ahead of what the data was saying. But they seemed
to have some concerns about the labor market there, so
they wanted to try to get a bit ahead of it.

Speaker 4 (01:30:27):
You know.

Speaker 6 (01:30:27):
Obviously the data that we got on Friday night with
their employment report turned that on its head. Their unemployment
rate foul, the amount of jobs that printed were outside
the range of economist estimates. We've got an election coming
up in the US in the next month, so I
would think that they might sit on the sidelines until

(01:30:48):
the end of the year to see how the data
is going to progress.

Speaker 3 (01:30:50):
Yeah, and how has the situation the US affected us
and the Feed's moves affected us in the likelihood of
a fifty basis point cut here.

Speaker 6 (01:31:00):
Well, one of the factors that might push it towards
a bigger rate cuts, like a fifty point cut this
time and at the end of the year is that
idea that global interstrates have actually taken a decent league
lower In the last few months, quite a few pair
central banks have done a few rate cuts now we've
only done one in this forecast, that they're going to
do a few more between now and save February next year.

(01:31:23):
So part of my sort of like thinking is that actually,
given they've got this long break, that they do need
to get on with it now because otherwise they might
find themselves a little bit behind the eight ball once
we get to February next year and chasing.

Speaker 3 (01:31:36):
Yeah, yeah, hey, thanks Kelly, really appreciate it. There's Westpac's
chief economist, Kelly Echold. Thank you for your taxi, Jack
is Andre. Can you explain why the rates are lower
it as unemployment rises. I don't think it's directly as
a result the rates being lowered as unemployment rises, because
technically the Reserve Bank isn't supposed to be considering unemployment
too much, although labor market stats of course make up
the bigger picture. It's because of the lag, so it's not.

(01:31:59):
It's more just that the result of the higher ocr
has meant that it takes a bit of a time
for that to flow through to the wider economy and
is meaning that the cost of borrowing is much higher.
We've been in recession. That means inevitably jobs are lost,
jobs are continuing to be to be lost. Now that

(01:32:19):
the Reserve Bank has decided to bring the ocr down,
there's going to be a bit of a lag before
we see that in some of the employment data. Thank
you very much, Andre. Cor it to seven. We're going
to Europe next on NEWSTALKSB.

Speaker 2 (01:32:29):
If it's to do with money, it matters to you.

Speaker 1 (01:32:33):
The Business Hour with Jack Team and my HR the
HR Solution for Busy smys on News Talks.

Speaker 3 (01:32:40):
EDB thirteen minutes to seven on News Talks EDB and
UK and Europe Correspondent Gavin Gray's with us this evening, Hi,
Gavin Either Jack a year on, the mother of the
only British Israeli hostage held by Hamas is speaking out.

Speaker 23 (01:32:56):
Yes with dissatisfaction over the level of the tension that
the hostages are getting. Really Jack, So she's effectively trying
to find her twenty eight year old daughter, Emily de Maari,
who was shot and taken from an Israeli kibbutz across
the border into Gaza of course on the seventh of October.

(01:33:16):
We are one year on today, which is why her
comments are making the headlines, and she's just saying that
her plight seems to have been forgotten. Many people in
the UK don't seem to realize that there are Britons
who have been trapped abroad in this and ninety seven
hostages remain unaccounted for. However, of course many would say

(01:33:37):
there's very little the British government can do on top
of what's already being done, and well, we've already had
the death of one British Israeli, Nadav Popolwell, who was
kidnapped on the seventh of October and his body was
recovered by Israeli soldiers in August.

Speaker 3 (01:33:56):
Gavin, the UK is seeking to follow the lead of
the US. Big Texas are going to be imposed on
import of electric vehicles from China.

Speaker 23 (01:34:06):
Yes, massive actually jack here. So tariffs on electric vehicles
made in China are set to rise from the current
ten percent level up to forty five percent for the
next five years. So they're definitely going to be noticing
that if you're buying a Chinese electric vehicle. But of
course it has broad concerns, hang on, we're encouraging people

(01:34:27):
to buy electric vehicles, this is hardly an incentive, and
they're saying that the price could make EV's just too
expensive for buyers. It was a decision across the EU
trying to really outline their plans, saying they believe that
the Chinese EV industry electric vehicle industry is being illegally

(01:34:48):
state subsidized, something the Chinese deny. But the decision, which
split European Union members states such as France and Germany,
risks sparking a trade war between Brussels, and of course
because now we're waiting to hear what response China will
give to this news.

Speaker 3 (01:35:05):
Do you see many Chinese evs on the roads in
the UK?

Speaker 23 (01:35:10):
Yeah, there have been quite a few, and actually quite
surprisingly there Jack is a sort of sidebar to all
of this. The number of electric vehicles that have been
registered in this country has really stuttered of late, and
that's an interesting sort of anomaly. I think many people
just saying the average cost of buying an electric car

(01:35:33):
in the UK is now over one hundred thousand New
Zealand dollars and for many that's just a bridge too far.

Speaker 3 (01:35:39):
Yeah, yep, including me. I mean that's interesting though forty
five percent tariff the US is one hundred percent. Forty
five is a lot, but yeah, yeah, I suppose you know,
it's still not even even half of the Americans. As
the cost of financial scams in the UK's rockets, UK
banks have been given the power to poor payments that

(01:36:00):
will give them time to investigate fraud.

Speaker 23 (01:36:04):
Well, I remember when it was announced that the banks
were going to have to buy legislation clear payments either
that day or the next business working day, and there
were huge cheers. After all, why should they keep your
money and earn interest of it when you should be However,
I'm afraid that the scamming industry, which is now massive

(01:36:26):
here in the UK, has put pay to that, and
we're sort of turning the clock.

Speaker 3 (01:36:31):
Back on that. So now fraud is the most common.

Speaker 23 (01:36:35):
Crime in the UK. It actually accounts for one in
three of all crimes. So now banks are to be
given up to four days to investigate fraud and to
either process or decline a payment, and that'll allow them
more time to see, you know, who the paye is,
who the payer is, and whether there's anything illegal going

(01:36:56):
on here of course, one of the tricks scammers used,
Jack is to hurry be along, and so you've got
to do this now quickly, before the money's taken and
before they have a chance to think about it and
perhaps they get any advice.

Speaker 2 (01:37:07):
Yeah.

Speaker 3 (01:37:07):
Right, And so does that mean that banks are still
on the hook in any way if they end up
completing a transfer, a transfer that's part of a scam.

Speaker 23 (01:37:17):
Yes, although the maximum compensation is being reduced, and I
think it's going to be more difficult now to get
compensation from them as part of this deal.

Speaker 4 (01:37:27):
Right.

Speaker 3 (01:37:27):
That's interesting, Yeah, because that is a that is a
real point of contention here at the moment. Thank you
very much, Gavin. We really appreciate it. That is UK
and you correspondent Gavin Gray forty five percent the terriff
on eves.

Speaker 15 (01:37:40):
It does.

Speaker 3 (01:37:41):
It's amazing how geostrategic competition makes countries have to force
US countries to make very difficult decisions, doesn't it. I mean,
you know, the UK in particular is all about reducing
emissions wherever possible, until you know what, actually, maybe it
doesn't suit their closest Olly, I'm not suggesting that the

(01:38:04):
Chinese have had everything up.

Speaker 15 (01:38:05):
You know.

Speaker 3 (01:38:07):
Have operated perfectly when it comes to the management of
their EV market, but certainly they are making big inroads
around the world. If the number of EV's on our
roads is anything to go by, it's going to be
fascinating to see what the impact of those tariffs will
mean for the number of byds. For example, on New
Zealand Roads seven to seven on Newstalk's he'db whether it's Macro.

Speaker 2 (01:38:28):
MicroB or just plain economics.

Speaker 1 (01:38:30):
It's all on the Business Hour with Heather Duple c
Allen and my HR, the HR platform for SME NEWSTALKSB
News Talks.

Speaker 3 (01:38:39):
He'd be just coming up to four minutes to seven
after seven o'clock on the show. We're on the station.
We're going to catch up. Jason Fine is going to
be in the hot seat for Sports Talk this evening.
Looking at the All Black squad. If you haven't seen
the news yet, it's interesting. Scott Robinson has named a
fairly predictable squad for the Northern Tour. But what's I

(01:39:01):
suppose most intriguing is that yes, Cam Royguard has made
the team and both TJ pet and Nada and former
captain Sam Kin are going to be heading North if
you'd asked him or anyone else, and he's got a
rugby circle six months ago if they'd be going on
this Northern tour, I think most of us would say no,
but kind of just shows that what happens in the

(01:39:21):
sports sometimes, right. So yeah, both TJ and Samkin heading north.
Although it was really interesting today Scott Robinson was quite
explicit and saying he's really hoping that they're going to
take on a big mentoring role during that Northern tour
as the younger players come through as well. So Jason
Pine on Sports Talk this evening, you look at that
Black Ferns defeat to England today. It's the first time

(01:39:44):
in their history that the Black Fans have conceded nine tries.
That is it for me this afternoon, though. Thank you
very much for your company, your texting, your emails to
the guys, for doing all the tough stuff Michael and
Andy and Kenzie on the dials, and he's chosen the
beats to play us out there. Seveney what you got broin?

Speaker 24 (01:40:01):
Yes, I don't know if you saw Conan O'Brien attempting
to do a bit of karaoke and hook a ticket. Yeah,
Zip's a whole lot of love to get us out.
This is how it actually sounds, not his attempting. Yeah,
it's just probably good for everyone, Actually, I'd say so.
I certainly, certainly, cone certainly.

Speaker 3 (01:40:17):
I'm back tomorrow from four o'clock till then. Have a
great evening.

Speaker 1 (01:40:27):
For more from hither Duplessy Allen Drive, listen live to
news talks it'd be from four pm weekdays, or follow
the podcast on iHeartRadio.

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