Full Show Podcast: 18 February 2026

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
The only drive show you can try the truck to
ask the questions, you get the answers, find a fact
sack and give the analysis. Heather duplicy Ellen Drive with
One New Zealand and the power of satellite mobile news dogs.

Speaker 2 (00:15):
That'd be.

Speaker 3 (00:17):
Afternoon, Welcome to the show. Coming up today. The new
Reserve Bank governor on her first rates decision. She's with
us after five Fletcher Building on their first operating profit
in years, and David Seymour on Farmac funding blood cancer drugs.

Speaker 2 (00:31):
Heather duplicy Ellen.

Speaker 3 (00:32):
So we've had the first monetary policy decision from the
new Reserve Bank governor. And it's not really until you've
got a new captain in charge that you realize just
how little confidence you had left in the last lot.
I mean, look, it's, let's be fair, it's early days
for Anna Bremen. We will judge her by what she
does from here on in. But she does start with
a clean slate without us reading into her decision and

(00:53):
second guessing everything because of a poor track record, and
that I would say is at absolutely welcome change from
just a few weeks ago before she took the helm.
Her take is that inflation is fine, yeah, it's sitting
a little high at the moment, three point one. That's
outside the target band, but it will fall back within
the band by this time next year. The economy is improving.

(01:14):
The green shoots that were previously limited to the regions
and certain industries are becoming more widespread. Households are getting
more money in their pockets, but they still are cautious,
and that's a problem because unless they're confident enough to spend,
they will hold back the economic recovery from what it
could could potentially be. But and this is probably the
bit that you've been the most interested in been waiting for,

(01:36):
they will start raising the ocr faster than we thought
so Previously they had the official cash rate projection going
from two point two percent in March to two point
three percent in December. That's now come forward. It's now
two point three percent in June and two point four
percent in December. In their predictions, the first hike will
still most likely be in December, but the chances of

(01:56):
it being in September just went up. It's not a
major concern, it's it's not a major correction. It's not
really a game changer for anyone, but it is bringing
the inevitable closer. Still for now, it's nice to have
a change at the top, isn't it. And here's hoping
this governor does a better job than the last one.

Speaker 2 (02:11):
Heather do for Sea Ellen.

Speaker 3 (02:14):
Nineteen ninetwo is the text number, standard text fees apply
and A Bremen is with us after five o'clock Now,
Northland's third fatal dog attack in four years is creating
urgency around the need for animal control. A woman was
more to death at a home in Kaihu yesterday. Shane
Jones was on Radio New Zealand this morning saying severe
jail terms should be considered for owners of dangerous dogs.

Speaker 4 (02:33):
The dogs are lethal, the dogs are homicidal, but what's
really feral is the character of the owners. If your
level of negligence is such that someone has died, then sorry,
you're going to face the consequences.

Speaker 3 (02:49):
MP for Northland Grant Mcallum's with us, helogram get afternoon, Heather,
Oh what's your plan?

Speaker 5 (02:55):
What's my plan?

Speaker 6 (02:56):
Well, initially I'm going to want to catch up with
the local councils, the mayors and say to the right team,
where are we at, what are we doing to We
have to address this issue in the short term, whether
it's more enforcement officers or whatever.

Speaker 5 (03:09):
But fundamentally I'm there.

Speaker 6 (03:10):
To actually highlight to say, right, what do we need
to do to address this issue? Is becoming far too
common unfortunately in the North and are not in other
parts of the country as well, and we've got to
look what the government can do to assist our councils
in terms of there's any law reform required or regulations
changes to get outcomes as quite frankly, it's just not

(03:32):
acceptable and there are some things we can look at doing.

Speaker 3 (03:35):
Is it true that there are people in Ahipater who
have to arm themselves with sticks to fend off roaming dogs?

Speaker 6 (03:41):
That would I would suspect that's highly like to be
the case, and that is wrong, and this is why
we need to actually we need as a community take
ownership of this.

Speaker 5 (03:51):
Councils need to really get on and.

Speaker 6 (03:54):
Do their job, which is to enforce the regulations as
they are. But I just think that also we've got
too many dogs out there and.

Speaker 5 (04:02):
You have to question some of the breeds.

Speaker 6 (04:04):
So the question becomes do we look at a stronger
desexing policy and going forward and also some of the
breeds are these dogs? Do we are there some breeds
that we just don't need it?

Speaker 7 (04:15):
Okay?

Speaker 3 (04:16):
How has it go? What is councils supposed to do
if you've got roaming dogs in Archipata? What are they
supposed to do with those dogs?

Speaker 5 (04:23):
They're supposed to pick them up and take them to
the pound.

Speaker 6 (04:25):
And if that is a good question, and that is
what I want to discuss with the councils because ultimately,
this is if it's a resourcing issue. Ultimately there's a
choice issue that the councils have to make about resourcing up.

Speaker 3 (04:37):
Okay, but here's the other question. Why is it that
apparently animal control went round to this woman's house because
they'd been warned about these dogs and the dogs were
still there.

Speaker 5 (04:47):
Those are very good questions.

Speaker 6 (04:48):
I just gotta be careful in this in this case
because I understand there is a police investigation, so I
just want to I think we just just packed that
to one side at the moment. But in general terms,
if a dangerous dog are identified, then I would expect
that the council officers would be doing their job and
do something about that.

Speaker 5 (05:08):
What we need to look at it.

Speaker 3 (05:11):
Okay, how far are you prepared to take this grant,
What do you want to happen? Like, let's say you've
got roaming dogs in ar HIPAA. What should happen to
those dogs?

Speaker 6 (05:20):
Well, they should be picked they should be picked up
and taken to the pound. And then if there's a
point and and ultimately they if they if they're dangerous
dogs and or no owners coming forward to take them
own them, because obviously quite often they're not registered, then
the ultimately they'll be put down. Okay, just that is
just the life of the unfortunate outcomes. But we can't

(05:40):
and but ultimately too we need to then look at
the owners of some of these animals and say, come on,
this is not good enough. And and people need individuals
need to be how to account for the way they
look after these animals.

Speaker 3 (05:52):
Okay, what and what would you like to have? What
what rules would you like to change so that animal
can control control can go to a place like this
woman's house. See a whole bunch of pit bulls that
are causing problems chasing people up and down the street.
What should they be able to do in that instance?

Speaker 6 (06:08):
Well, if these I wont talk about the specific case,
but in terms of general.

Speaker 5 (06:13):
Generally speaking, if you go to a property.

Speaker 6 (06:14):
And there are dangerous dogs and not being looked after
and being aggressive, then ultimately they need to be able
to take them, take them into the pound, and ultimately
if they if the dogs are shown to be dangerous,
then they should probably be put down because we do
not need dogs like this in our society, that is
for sure, because unfortunately, when people got to the point

(06:36):
where individuals are being are being killed or mamed, it's
just not acceptable I think.

Speaker 3 (06:41):
I mean, would you agree that whatever happens next, there
needs to be a tightening up of the rules because
it is like it seems to me the councils are
trying their absolute hardest, but they just they haven't got
the rules on their side. They can't really do what
they need to do.

Speaker 5 (06:54):
And in some cases that may well be the case.

Speaker 6 (06:56):
So A's why we are very focused as a government
saying yes and I'm I'm going to certainly put some
submissions into this to the minister, so we need to
relook at this and I know he's open to that.
So what do we need to do to allow the
counselors to do to take the do they do a
better job but ultimately it might still come down to
resourcing for those councils to actually say, right, this is
a priority, we've got to own it.

Speaker 3 (07:18):
Yeah, good stuff. Hey listen, Grant. Now, by the way,
where Simon ore Simon's overseas, isn't he?

Speaker 6 (07:22):
Yes, he's over at the he's doing climate change stuff overseas.

Speaker 3 (07:25):
Here though, Oh lord, I bet you'd rather be back
here dealing with the dogs. Grant, thank you, mate, look
after yourself. That's Grant McCallum, MP for Northland. Simon is,
of course Simon Watts, who is the Minister for Local Government.
Because these rules that need to change at the local
government level so we can start shooting the dogs basically. Anyway,
we'll come back to this shortly. Correction I said, I said,
Shane Jones was talking to Raad in New Zealand. He

(07:45):
wasn't even talking to the boys earlier, Tyler and Matt,
and I don't want to get in trouble with them,
so I had to correct that now. Finally, geez, Honestly,
if you're a shareholder and Spark, you'll be breathing a
sigh of relieft on that, a relief after what you
see have seen today Fine a half decent result from
spark net. Profit has nearly doubled to sixty four million dollars.

(08:06):
It's still short of analyst expectations, so it's it's like
it's good, but you know, and like freightways Spark. Why
I'm telling you about this is because spark scene is
a bit of a bell weather of the economy. So
we're gonna have a chat to the Spark boss later
on and find out what she reckons is going on
here with the recovery. She's with us after six. Right now,
it's quarter past four.

Speaker 1 (08:26):
It's the Heather dupers Allen Drive Full Show podcast on
iHeartRadio powered my News Talk zeb.

Speaker 3 (08:34):
Heather, the owners threaten the animal control and that's why
they don't pick the dogs up. Eighteen past four Sport
with Generate celebrating great performances in Sport and Key we
Saber at cans Well Darcy. Even though I predicted that
Matt Winaret would have to go, it is still something
of a surprise to see him actually do it.

Speaker 8 (08:54):
I love the way he joined me on Sports Thought
last night. Haven't heard boo from him. Decides to go
get on the line and the you go the information
was out there, so I've been good on for doing it,
but I do feel like there was no way out.
What I'm what I find amusing him at this whole
situation is it started off about a year ago, right
with Noline Tatua getting into a bit of strife, and

(09:16):
suddenly there were people being stepped down and moved. There
was no comment, there was nothing going on accusations of
the board being inadequate, incompetent. So what's happened in the
wash up? The coach is still there and the CEO
and the Chair of the board have both gone. Go
figure it could have been sorted out a lot quicker
and a lot earlier. Matt said last night that Yannie

(09:38):
had a couple of regrets. Indeed, he joined the host
this morning as well to talk about it made the
right decision. Now it's a matter of aligning the new
chair of the board and the CEO. And they've got
Karen Smith who used to be the chair of the
board for New Zella Netball. She's assisting, she's aiding Netball
New Zealand in this proces. He has to find the

(10:01):
next board.

Speaker 5 (10:02):
Who can op.

Speaker 8 (10:03):
She's doing the board appointments well, no, No, she's she's
not doing the appointments herself, she's assisting the proceeds. She's
been eleven years on the board, she's a life member.
She's six years as the chair of the board and
spent five years as the VP of World Netble. So

(10:23):
she knows his stuff. So the fact that she's leaning
in and giving a bit of a hand, I think
it's good. She loves the game. She can't out myself
right now.

Speaker 3 (10:30):
The reason he had to go was because and I
feel bad for Mattenus because the guy's actually very very accomplished,
you know, to have to be dragged down by Netble
New Zealand at the last. But he was actually he
was the one who finally signed off, wasn't he? On
the way that they handled the Dame Noles situation.

Speaker 8 (10:46):
He signed off on himself. What do you mean, Well,
how do you mean by signed off?

Speaker 3 (10:50):
So you know when they had that, when they stood
Dame Noles down and they that was the approach that took.
It went straight up to ball chair. He was the
one who went to absolutely go ahead with it, and
that is why he had to go.

Speaker 8 (11:00):
I suppose when talked last night about the perceived lack
of communication. A lot of people really didn't know where
they stood and what was being done. And you talked,
we can't make too many statements because there's a lot
of legal process that were going to go through, but
I say, you have your time again, maybe be a
little clear, maybe a pair a little more, just to

(11:21):
comfort people know what's going on.

Speaker 3 (11:23):
That it was probably the biggest balls up in public
of an eighth har situation, that of an employment situation
like it was massive.

Speaker 8 (11:30):
Maybe if it's been a differently with Noel Lean at
the start and going, you know what, we're going to
talk to everybody at the same time.

Speaker 3 (11:35):
Has Dame Nol's taken that job in Melbourne.

Speaker 8 (11:38):
I don't know what I'm trying to get her on air,
but you know we'll get there eventually. He's going to
keep good things come to those who ask.

Speaker 3 (11:45):
I opened the newspapers this morning. I saw Australia's out
of the T twenty World Cup. I thought Darcy will
be starked.

Speaker 8 (11:50):
Well, no, I don't wish their long anyone. I just
I feel the pain after we were knocked out a
couple of years ago. It's the architects of their own demise.
When you look at what happened, it was a washed
out match that eventually triggered it and kicked them out.
But you get beaten, buzz and babwe, what do you
expect You start leading it, leaving it in other people's hands.

(12:13):
Of course, trouble is going to happen. That's just the
nature of being alive. You involve anyone else in your process,
chances are it'll fall apart. Control your narrative, control it yourself.
Are we talking also to how Mark Howard's not on
the show, how he games? And we're going to look
to sack some discussion as well, not on the cricket

(12:33):
but maybe on the netball decision.

Speaker 5 (12:35):
I'm glad it's over, No, my.

Speaker 3 (12:37):
Lord, is it over?

Speaker 9 (12:37):
Though?

Speaker 3 (12:38):
We'll see what happens with done trying to put a
lit on it. Thank you, Dusky Water grab sports so
coast you'll be back at seven. It's full twenty.

Speaker 1 (12:46):
Two, the headlines and the hard questions. It's the mic
asking breakfast.

Speaker 10 (12:51):
So the headline grab around of the infrastructure plan is,
of course the Auckland Harbor Bridge at nine dollars a pop.
Outside of that, we look like a poor country with
a lot of crap stuff that doesn't work well and
we need to fix that. Chris Bishop is the Infrastructure Minister,
and if you were down in the dumps about this
country and you were thinking of leaving for Australia, your
report doesn't really help anyone, does it.

Speaker 2 (13:09):
Well, it's a great way to start.

Speaker 6 (13:11):
It's like it's a sobering report in the sense that
we don't really know what we own.

Speaker 5 (13:14):
We don't look after what we own. So you're right.

Speaker 2 (13:16):
On the other hand, there's lots of things in the
ze infrastructure that are really good.

Speaker 4 (13:20):
The reality is asking people to pay for things is
difficult and ultimately roads have to be paid.

Speaker 10 (13:25):
For back Tomorrow at six am, the Mic Hosking Breakfast
with Mayley's Real Estate News Talk ZEDB.

Speaker 2 (13:31):
Digging deeper into the date headlines.

Speaker 1 (13:34):
It's Heather Dupliclan Drive with one New Zealand coverage like
no one else News Talk ZEDB.

Speaker 3 (13:41):
Right, I've got an update for you on the matt
Utai situation over in Australia and the drive by shooting
that got them. There have now been more attacks since
so it apparently it's been carried out by members of
the notorious Ala Medine family. The crime family. They have
shot it. So they've shot at Matt Well, they've caught
matt Utai drive by shooting. They've shot at a second home,
and they've burned a third.

Speaker 11 (14:02):
We understand the obviously the forty four year old you mentioned.

Speaker 12 (14:07):
I'd like to announce that RAP the Squad and State
Crime Command have established Stripe Force hales Owen in relation
to three events that have occurred in the last two days.
RAP the Squad believes these three offenses are linked and
we have established that stripe force to investigate those offenses
for that reason.

Speaker 3 (14:26):
And it's not random. It seems that matt Utai's son
is somehow involved.

Speaker 11 (14:30):
We understand the obviously the forty four year old you
mentioned matte Uk how his son, How central are his
criminal least to this investigation.

Speaker 12 (14:39):
We believe he's associated with criminal entities and that is
the reason for the current state of offenses.

Speaker 11 (14:46):
Do you know where he is?

Speaker 5 (14:46):
We currently believe he's offshore.

Speaker 2 (14:49):
The exact location is.

Speaker 13 (14:50):
Unknown to us.

Speaker 3 (14:51):
Offshore. Just saying there's a link back to New Zealand
here is hoping fingers cross, not us. Now, We're going
to have check to Dan Mitchison, who's standing by with
news out of the US very shortly text here Heather,
the netbor New Zealand board thought that they were bigger
than Dame noleing TOTOA. Now, I I don't want to
lay blame within. I mean the whole thing, and we've

(15:11):
discussed that it's been stuffed up badly, and it was
stuffed up badly by the CEO, Jenny Wiley, and it
was stuffed up badly by the board signing off on
the way that they treated Dame Nolly. But I'll tell
you who I am looking forward to hearing from at
some stage in the future is the Players Association, because
remember the Players Association, of the ones who kicked us
all off A. The players went went moaning, she's cheating
us so badly. To the Players Association they started the process.

(15:35):
And have you heard anything from them at all? Next
time they pop up, someone's got to ask them a question.
News is next, you said my.

Speaker 14 (15:44):
Heart from the feeder.

Speaker 1 (15:46):
Oh, the day's newspakers talk to Heather first. Heather Duplicy
Ellen drive with one New Zealand and the power of
satellite mobile news talks end be.

Speaker 15 (16:02):
Hated just a little right, I have some good news
on Fletcher Building if you want of the shareholders, because
you realize the reason that we're talking about all the
supporting is we are, of course quite deep into reporting season.

Speaker 3 (16:13):
Now good news for Fletcher Building. It's posted a half
year operating profit of forty five million dollars, which is
quite the turnaround given last year we had the operating
loss of eighty eight million dollars underlying net still an
underlying net loss eleven million dollars worth a chat to
the CEO about that after five right now, very superstanding.
By by the way, he'll be with us on politics
in ten minutes, and right now it's twenty four away

(16:35):
from five.

Speaker 1 (16:36):
It's the World Wires on News Talks Eddy Drive.

Speaker 3 (16:40):
Iran says it's reached an understanding with the US over
its nuclear program after indirect talks in Geneva. The Iranian
foreign minister says work still needs to be done. Here's
jd Vance on Fox News.

Speaker 16 (16:52):
You know, in some ways it went well, they agreed
to meet afterwards. But in other way is it was
very clear that the President has set some red lines
that the Iranian are not yet willing to actually acknowledge,
and work through.

Speaker 3 (17:04):
Ukraine has started funding the freeze and the storage of
its soldiers sperm and eggs. Now this comes as the
country faces demographic catastrophe. Ukraine will also meet with the
US and Geneva for further talks. Trump wants things to
happen quickly.

Speaker 1 (17:17):
It's going to be a very easy I means looked
so far.

Speaker 2 (17:21):
Ukraine.

Speaker 13 (17:22):
Better come to the table fast, That's all I'm telling you.

Speaker 3 (17:25):
And finally, do it, Just do it. That scher Leboff
who has let loose at Mardi Grass celebrations in New Orleans.
The Transformers actor was arrested after reports that he was
terrorizing the city. That's a direct quote, terrorizing the city
and in an inebriated state because he had been sober
for years but clearly isn't anymore. He apparently pulled the

(17:47):
classic do you know who I am? When he showed
up to a vow without a shirt or cash.

Speaker 1 (17:52):
International correspondence with ends and eye insurance, Peace of mind
for New Zealand business.

Speaker 3 (17:58):
Dan Mitchinson, our US correspondent is with us. Hello Dan, Hi,
Hi Heather. So I imagine plenty of tributes for GC Jackson.

Speaker 14 (18:07):
Yes, even from President Trump, who came out and called
him a force of nature like a few other before him.
And of course you have former President Barack Obama who
described him as a true gent And I mean, this
guy was a very big figure in activism here in
the US and around the world. He made some high

(18:27):
profile international mediation efforts. He ran for president twice in
eighty four and eighty eight. And there was also controversy
around him his association with those Farakahn. He had scrutiny
for an extra marital affair. There was financial mismanagement of
his organization too, But he was still a force to
be reckoned with within the Democratic Party.

Speaker 3 (18:47):
So what is it that did he have Alzheimer's?

Speaker 4 (18:49):
Did he?

Speaker 14 (18:52):
Yes, he had been suffering from a neurological disease four
for some time right now. He came out without a
few years back and just had not been doing very
well and kind of kept out of the limelight. I mean,
his family sort of kept the public up to date
from time to time. But yeah, it was just it
was just a neurological issue that had sort of taken

(19:13):
him in the end.

Speaker 3 (19:14):
Okay, now what have we got from the Iran talks?

Speaker 2 (19:18):
Well, like you were saying on the on the world wires.

Speaker 14 (19:21):
I think Iran's foreign minister is adopting a little bit
of a different tone. I think there is a little
optimism about the talks. He's saying that a new window
is open. I think jd Vance thinks that there's still
a lot more work to go. And of course the
President scrapped an earlier agreement during his first term with Iran,
and now he's continuing to threaten to use force to say, hey,

(19:42):
you got to agree to this, this plan, you have
to constrain your nuclear program. Iran says, well, okay, you
keep pushing us, We're going to push back with an.

Speaker 2 (19:50):
Attack of our own.

Speaker 14 (19:52):
So it's it's really sort of up in the air,
I still think at this moment. And then Iran announced
earlier today that they're they're closing the straight of or
moves for live fire drills. I think they're saying, but
you know what you have to think about here is
twenty percent of the world's oil passes through this area.

Speaker 2 (20:07):
That's a lot.

Speaker 14 (20:08):
So there's a lot of people saying, well, you need
that back open, and I think they're a little on
edge about that.

Speaker 3 (20:14):
Now, are we actually expecting anything from the Ukraine talks?

Speaker 14 (20:17):
I don't know, honestly, I think we're going to get
something out of that. It'd be nice. I know Donald
Trump would certainly like something like that. I know Ukraine
would certainly like something as we're approaching the anniversary of
that war. But it still feels like there's a lot
to work out behind the scenes, despite what they're saying
to the press.

Speaker 3 (20:36):
Yeah, certainly does. Okay, I'm guessing that a sleep sleep
cation is a thing that you do when you've been
working your butt off all yet you stop working. You
just sleep to catch up on it. Is that about it?

Speaker 14 (20:49):
That is my kind of vacation. Yes, I mean, you
don't want to hike, you don't want to go to
the beach. People are paying thousands of dollars to fly
across the country here in the US. They check into
these high end hotels and they just sleep. And the
Wall Street Journal is saying that these luxury hotels are
now offering sleep suites that are equipped with AI powered
beds and soundproofing, and some of these rooms can cost

(21:11):
something like a thousand dollars a night. I mean, think
about that, You're paying a mortgage payment to stay in
a hotel room where the goal is to keep your
eyes closed so you don't even you know, see.

Speaker 3 (21:22):
What how much sleeping are these people doing?

Speaker 14 (21:26):
I think it's just I think it's a burnout factor.
I think a lot of people are going to do that.
And you're probably rolling your eyes right now. And I
think we all do a little bit. But and there
is there are there are skeptics out there because this
is a band aid, right, This is not a cure
if you're that exhausted that you need to spend three
days in a dark room in another time zone just
to feel human, just to catch up on your sleep.

(21:47):
Like they're saying, you don't have a travel problem, you
have a lifestyle.

Speaker 3 (21:51):
There are so many questions that I have after talking
to you about this, Dan, thank you very much. Right
look after yourself, Dan Mitchinson, US correspondent. Why wouldn't you
just I mean, like, I get that you might need
to get out of your house. If you've got kids,
maybe go catch up on sleep for a weekend. Weird,
but like whatever, you want to catch up on sleep
for a weekend, but surely you just do it in
your own city rather than flying somewhere else. Because if
you're going to take yourself somewhere else. It doesn't matter

(22:13):
if it's in another city or your own city. If
you're just going to sleep eighteen away from five.

Speaker 2 (22:18):
Heather do for see Allen.

Speaker 3 (22:20):
Zah, Hey, I have very exciting news for you. I
am I am. You know that I'm into the concerts
and I am genuinely fizzing for the Food Fighters being
announced today they're coming to New Zealand next year. And
I say, this is somebody who's seen the Food Fighters.
So if you haven't seen the Food Fighters, what are
you doing with your life? Because they've been here a
thousand times and you still want to go back and
see them. They are a great show. Anyway. They're going

(22:41):
to play the new christ Church Stadium January nineteen next year.
Then they're going to play Western Springs the twenty second
to jan Now, I mean we need to have a
conversation about why you're going to Western Springs over Eden
Park because that's a bit weird, isn't it. Like surely
the guys in the office were telling me Western Springs
capacity is properly they estimate about thirty five thousand at

(23:02):
the moment, whereas I think isn't Eden Park's capacity like
fifty to fifty five thousand. So surely if you're going
to try to get an absolute bang for your buck
that you can from one concert, if you're the Food Fighters,
you're going there. But anyway, whatever, different very different band,
very different band from last time they were here. Of
course we have to remember because Taylor Hawkins has died
the drummer and Dave Grohl is now a dirty cheeterh

(23:25):
So you're going to the Food Fighters like you don't
love them the same way that you did before. Like
it's definitely there's going to be some angst in watching them,
isn't it. You're gonna go along, you're gonna have a
good time, but you are going to be like you dirty,
you let us down, Dave, you let us down. Anyway,
we still have to go. But what this is is
something of a coup for Takaha, isn't it? The christ

(23:45):
Church Stadium They are cutting the lunch of the full
siinth bar Stadium in Dunedin because they've got this. They've
got the super Rugby, they've got the symphony with the
six sixties. We have a chat to them about that
in half an hour seventeen away from five.

Speaker 1 (23:56):
For politics, with centrics credit, check your customers and get payments.

Speaker 3 (24:00):
A new Reserve Bank governor and a Bremen. Bremen is
with us after five o'clock. Right now, it's fourteen away
from five and Barry Sofa, senior political correspondence here High Barry,
Good afternoon, Heaven. It's quite noisy in the debating chamber.

Speaker 5 (24:10):
Was it well?

Speaker 13 (24:11):
I think we can expect a lot more of this
this year, being election year. And it was a point
that was made as you'll hear from the audio by
Jerry Browne at the end. But the economy in the
cost of living is locked in to be to being
the width that labor uses to lash the government with.
But the Prime Minister was having none of it. Today.

(24:35):
Here are the two chrises going for it this afternoon.

Speaker 17 (24:38):
The economic vandalism of the last mob who didn't understand
the economy at all. You ran this country into it
whole economically. You've got no economic credibility. Look at that
front bench. I wouldn't employ any of them in a
lower middle management job.

Speaker 18 (24:57):
If he didn't intend to lower gross prices when he
became Prime minister, why did both he and Nikola Willis
advertise across the country that they intended to lower grocery
prices for New Zealanders.

Speaker 17 (25:11):
I don't know why you bother coming to this house
every day to ask me questions on the economy.

Speaker 3 (25:16):
You are the guy that took the keys to the car.

Speaker 17 (25:18):
You crashed it in an almighty ditch. You stuffed the economy,
and we're fixing it up.

Speaker 5 (25:23):
We had a.

Speaker 7 (25:23):
Perfect demonstration for anyone watching this stuff to know that
it is election here and tensions and arguments tend to heighten,
but behavior should not detere out.

Speaker 3 (25:35):
How well I think he's wish it from the Prime Minister.

Speaker 13 (25:38):
Yes, well, yes, he's certainly fired up. And because certainly
Chris Hopkins has been banging on about this, the cost
of living, the cost of groceries, and you know it'll
run out of steam, there's no doubt about it. But
obviously it's fueling the Prime Minister.

Speaker 3 (25:55):
Yeah, good, okay, Well listen, I'm fascinated by this. Is
this referend in that New Zealand first once a binding referendum.

Speaker 13 (26:03):
It's a binding referendum. They've got a bill ready to go.
So Winston is saying there's no point in waiting for this.
You know, the party's are big parties. He clearly wants
their support. Unfortunately for Winston this will go into the
biscuit and it may well be drawn before the election.
But the difficulty is going to get to get them

(26:26):
on board. It penalizes Labor getting rid of the Maldi
seats because traditionally they've always gone to Labor. They're not
there at the moment, but they've always been a sure
six to seven seats to.

Speaker 3 (26:43):
The Labor purchase still comes out of their list position.

Speaker 13 (26:45):
Well, yes it does, but it's a constituency position, so
it's and there's still you know, there's list votes there
as well, so you know, I think the disadvantage to
Labor is greater than it is the National But Winston
Peters was on his feet in Parliament this afternoon decrying
the Maldi seats, urging his colleagues to show courage and

(27:08):
vote with his bill and test the public on the
topic later this year.

Speaker 19 (27:14):
They want a separate parliament, separate laws, separate land. They
hold the majority of the Mara seats and do not
turn up to Parliament, disregard the rules and processes, and
shall understand for the system that gives them the seats.

Speaker 2 (27:27):
They hold.

Speaker 19 (27:28):
They represent no one. They have proven the seats they
hold are no longer relevant nor serve their original purpose.
With the current Mari seattholders showing how much of a
mess they are in, it's proven that the time has
come for the public to decide if they are effect
development and if they are needed. The fact as we
currently have a record number of Mari in Parliament and

(27:51):
in cabinet and here comes this new breed know nothing
about the MraY world. They are not for the Mara people.
They are not for the people of this country. They
are for eforism and division and they stream racism. They
stream racism. It is their policy. Oh and just to
make sure that's not glad enough, they're communists as well,
thank you very much.

Speaker 13 (28:12):
So sort of digging the old forward and then twisting
it at the end. There but one person who was
there today from the Maldi party was the co leader
Rivalry Waiter team, who was rather confident about the role
his party will have after this year's election in November.

Speaker 20 (28:33):
The Maori seats are in one of the most powerful
positions it has ever been. It has ever been, and
that frightens people like Winston Peters in New Zealand Fish
Mary stured so fast in the last five years to
give the power that they had and to realize the
power that we have in regards to determining who the
next prime ministers come November the seventh.

Speaker 2 (28:56):
That's just the reality. So my fingu is to this
house national.

Speaker 20 (29:00):
Rule it out, labor rule it out, and let's get
this rubbish out of this house and ensure that the
rights of TeV Maori under tutility.

Speaker 5 (29:08):
Await tonguy are in trench.

Speaker 13 (29:12):
Well, I think you know he's probably done the case
or strengthen the case for getting rid of the Mari seats.
I mean, you'll have to look at their party at
the moment to see how ineffective it has been.

Speaker 3 (29:25):
Totally with you, all right, official cash right to state
where it is.

Speaker 13 (29:27):
Yes, it's interesting, isn't it? Two point twenty five percent?
You know the inflation rate is now what the last
figure was three point one percent. Now that's just outside
the Reserve Bank's margin the target that they aim for.
And the new governor says that she will be laser
focused on inflation. So that's why they've left it where

(29:50):
it is to see what happens. But they are expecting
things to get better, which is positive. And I know
you're talking to her shortly that you know she's done.
I think the right thing today.

Speaker 3 (30:00):
Brilliant Barry, thanks very much, appreciate it's very sober, Senior
political correspondent, eight to away from five. Here the Kurdos
to Winston for telling it like it is. He's the
only one with the Kernis to do it. Well, yeah,
okay maybe, but that's all he did. He just told
it like he is. He's not actually doing anything about it.
What did I say to you the other day. Unless
it's a bottom line from these guys at the moment,

(30:23):
don't count it as something that's necessarily going to happen,
because a whole bunch of stuff that they campaigned on
in twenty three hasn't happened. And so unless they say
it is definitely going to happen and they're not going
into coalition unless it happens, I would say you should
treat it with They're like, maybe it will happen, maybe
it won't. It'll depend on what when he's feeling like
on the day. Five away from five. Not to say

(30:43):
it's a bad idea. I think it's a great idea.
I think it's time that these seats get scrapped. Actually,
now Mount Vactannel and Wellington, there was a little bit
of whooh about this. People got a bit wooh freaked
out about the old Mount Victunel and Wellington today because
Chris Biship made some comments earlier today suggesting he might
be rethinking the tunnel, and because of what came out
from the Infrastructure Commission yesterday saying maybe don't build all

(31:06):
the roads and don't do all the roading projects and
maybe instead rely on some congestion charging because that will
fix some of the traffic problems by basically getting people
off the roads. And so bish was asked about it
and he suggested, yeah, he's gonna think about what the
congestion charging may do and how it will impact the
mountfac Tunnel. And of course we all looked at that
and went, oh, dear God, they're canceling the tunnel, which
would be a surprise because they campaigned on it. Frankly,

(31:29):
have you seen Wellington and how badly it needs the tunnel.
But also I thought they'd basically started doing the work anyway,
Finance ministers already come out and said don't worry about it.
It's going to happen. It's all go on it. So
if you were just for one little hot minute freaking
out about it, it sounds like you can calm down on
the rugby. Apparently you need to circle the second week

(31:50):
of March, so round about three weeks a month from now,
that apparently is when the announcement of the new head
coach for the All Blacks is going to be made.
And if you aren't of a Jamie Joseph Dave Rennie
super team to coach the All Blacks, you basically need
to get rid of that one altogether because there is
apparently no chance whatsoever that the pair of them are
going to team up because apparently, and it's being reported

(32:11):
that apparently both of them are completely set on being
the next All Blacks head coach and they're not going
to take being the playing second fiddle to the other one.
And so it's one or the other. You get Jamie
or you get you get jam And why are we
pretending that Dave is in the running for this. You're
going to get Jamie Joseph and Dave Rennie is not
going to be his second. Let's see, this is an
official prediction. Let's see if we get this one right,

(32:32):
Jamie Joseph the whole way anyway, The new Reserve Bank
Governor Anna Bremen is with us Next news tog.

Speaker 1 (32:37):
ZB pressing the newsmakers to get the real story. It's

(33:13):
Heather Duper Clan drive with One New Zealand to coverage
like no one else Newsawk Savy, Good afternoon.

Speaker 3 (33:21):
The new Reserve Bank governors made her first big call.
Anna Bremens kept the official cash rate at two point
two five percent, and she's with us now, Anna, Hello, Hi,
was there any consideration other than holding.

Speaker 9 (33:34):
At this meeting? There was really full consensus on holding
the OCR at this time.

Speaker 3 (33:39):
So how long are you prepared to tolerate inflation being
outside the band?

Speaker 9 (33:44):
Well, we always look to exactly why it's inflation outside
of the band. We're not happy with being at three
point one percent. We think that it's too high, but
we can see that there was some temporary fact. Mainly
I'm going to be careful, see he's using the word temporary.
But we do feel very confident that inflation will fall
during twenty twenty six. So that's why we felt comfortable

(34:06):
holding the OCR at this time.

Speaker 3 (34:08):
What would be an indication to you that I'm not
saying that you've got it wrong, but you may have
got it wrong, and that in fact is stickier than
you think. Like, what's going to be the clue.

Speaker 9 (34:17):
Well, if we see inflation being higher than we expect
overcoming months and later during this year, then again it
will depend on exactly what is causing that. But we
are very focused on bringing inflation back to two percent,
the midpoint of our target band because we need to

(34:39):
see low and stable inflation. Again, we will not tolerate
inflation outside of the target band.

Speaker 3 (34:45):
I am well, for how long though, Well.

Speaker 9 (34:49):
It's always a question of exactly what it is driving inflation,
because we base our decisions on where we see inflation heading.
Our goal is really to have inflation at the midpoint
of the target band or the medium terms. So if
because there's always there can always be temporary factors that
pushes inflation very high or very low. So we always

(35:11):
look forward to where inflation is heading, but we do
not you know, if it is too high for too long,
then of course we'll have to act.

Speaker 21 (35:20):
Now.

Speaker 3 (35:20):
I see that you've been quoted as saying that you
don't want to upset the economic rebound. Is that strictly
part of your job.

Speaker 9 (35:28):
Well, what we're saying is that you know, at this time,
we believe that it is important to have a little
bit of an accommodative policy, which means that the ocr
is a little bit lower than it might be in
the longer run. And that is because unless the economy rebounds,

(35:48):
we think that inflation may actually fall below the target.
Because if we look at inflation right now, if you
look at wage growth, if you look at core inflation,
we actually have inflation. Core inflation is firmly within the
target band, and that tends to be a better predictor
of where inflation is going than headline. So in that sense,

(36:10):
you know, we are comfortable that inflation will be a
target in the medium term.

Speaker 3 (36:15):
Are you worried at all that households are still too
cautious about spending what money they may have.

Speaker 9 (36:21):
Oh, I mean, I understand it, because you know, households
have some very tough years behind them. We've had weak
growth we've had and we still have high unemployment. The
houses being cautious, I do understand that, but we and
we do understand that households will need to see some
better purchasing power going forward and the stronger labor market.

(36:45):
But that if you look at the economic data right now,
we're getting some positive signals that the economy is starting
to grow, but we are saying also that we're at
the early stages of the recovery.

Speaker 3 (36:56):
Are you worried about the I mean recently, which maybe
slightly before your tenure, but late last year, the major
banks started to raise the retail rates. Are you worried
about that at all?

Speaker 9 (37:09):
We did discuss it because you know, we've seen that
mortgage rates have been going up and that is likely
affecting households and how they see the outlook. We're also
seen that house prices have been not growing quite as
we expected, so we do take that into consideration, and

(37:30):
we're seeing that, you know, compared to markets, we're seeing
the ocr being on hold for some time. And then
we expect when the economy is getting stronger and we're
expecting to see a bit more inflation or pressures data
out and we will start tightening. But right now we
are on hold.

Speaker 3 (37:46):
Tightening from December.

Speaker 9 (37:49):
Well, you know, we don't say no exactly when because
it will always we will adjust if we see any
changes in the outlook, but we're saying that there is
a probably allittered towards the end of the year of
a retake.

Speaker 3 (38:03):
That's correct, and it's very good to talk to you.
Thank you for your time. That's and a brim and
the Reserve Bank governor the new on twelve past.

Speaker 2 (38:09):
Five, heither due for cell.

Speaker 3 (38:11):
So some good news for Fletcher Building. It's posted a
half year operating profit of forty five million dollars, which
is up from last year's operating loss of eighty eight
million dollars. The CEO, Andrew Reading is with us Hi
Andrew Hi. Still a net loss for the business of
eleven million dollars. So how would you describe the business
right now in the turnaround that you're doing.

Speaker 22 (38:32):
Oh, look, it's a journey that we're traveling and I
think we're making good progress on it. The loss that
we recorded for the half of eleven million was after
fifty six million dollars of significant items, So we actually
posted a net operating profit of forty five million, which

(38:53):
is the first time we've done that since June twenty
twenty three.

Speaker 3 (38:57):
Still expecting a tough year this year.

Speaker 22 (39:00):
Yes, Look, we the first two quarters this year were
very different. So the quarter one which was coming out
of that, our financial year twenty twenty five was continue
the downward trajectory, and then in October we saw things
flatten out and November December started to pick up a bit.
But it's not bubbling. It is just getting better and

(39:23):
very bad. So we're not forecasting great times for our
financial year twenty twenty six, and indeed think that the
calendar year twenty twenty seven is when things start moving.
All things are lined up and moving properly.

Speaker 3 (39:39):
Now I see in terms of staff losses, you've already
cut about three hundred. Is more than three hundred hit
off of staff. How many more are you planning to cut?

Speaker 22 (39:47):
Look, that's very difficult to say, because what we have
left is about four hundred and eleven. Of those, over
two hundred and fifty are involved in shared service type operations.
So there is a desire to get as much of
our overhead into the business units as possible. But we'll
try and pick up some efficiencies on the way as
we go through that. So it'd be very difficult to

(40:09):
turn around to put any numbers on that.

Speaker 3 (40:10):
Has it been quite a significant problem in the business,
just just way too much inefficiency.

Speaker 22 (40:16):
Look, I think it's unfair to say way too much inefficiency,
because nobody comes to work to fail. But what we've
had is some strategies that have driven cost. So for example,
we were at one stage going to turn around and
roll out of SAPI across the entire business, and we
had to rise off one hundred and fifty million dollars
associated with that. But obviously if you're doing that sort

(40:38):
of exercise, you have the people involved to do it.
So this is why since I've been here, we've taken
it from seven hundred and nineteen down to four hut
and eleven, because we've been changing some of those strategies
that drove cost into the business.

Speaker 3 (40:50):
Andrew, listen, thank you very much for time. It's good
to talk to you. Andrew reading the CEO of Litcher Building.
Hither do for Ellen either I like the sound of
the new governor common sense of picture view, breath of
fresh air, Heather. It's nice to hear some straight answers
and explanations on how things are being decided. Whether she
was a breath of fresh air, good, ridden sore straight
down the middle, and you know what, I agree with

(41:12):
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it may be the case, but here's the thought. If
your business really is great, you need to make sure
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(41:32):
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(41:53):
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Speaker 2 (42:01):
Used dogs'd be hither.

Speaker 3 (42:04):
There's zero chance that inflation goes through the bottom of
the band. Today's statement was tactical after November's cock up.
They're more worried about inflation than they're letting on. It's
eighteen past five. Now the Food Fighters, as I was
telling you earlier, have ann answer. They're coming back to
New Zealand next year and in another win for christ
Church's brand new stadium, they're heading their first Caroline Harvey
Tear is the CEO of Venues Otakahi and she's with

(42:25):
us now. Hi, Caroline, gooday, how are you? I'm wealthy?
I can hear it in your voice. You're thrilled.

Speaker 23 (42:31):
Oh we're thrilled. Yeah, yeah, yeah, it just just gets
better and better this year and next.

Speaker 3 (42:36):
And what else you've got? So you've got the six sixty,
you've got the Super Rugby, You've got the Food.

Speaker 23 (42:40):
Fighters, got the Food Fighters, got the Warriors who sold
out in four days. Yeah, we've got the Rugby League
World Cup in October, got the Black Ferns, and we've
got a couple of exciting announcements coming up next month.

Speaker 3 (42:53):
Oh give us a hedn't what are we talking? Spells
and music? But are both o one of each?

Speaker 4 (43:00):
Yep?

Speaker 9 (43:00):
Yep?

Speaker 23 (43:01):
So no, we're excited in our city or We've all
waited a wee while to not have to pack our
bags to go elsewhere for this type of content, So
go bet.

Speaker 3 (43:11):
Now here's the thing though, right at this stage, much
of what you've got, not everything, but much of what
you've got the stuff that well, I'm thinking about the
fur fighters, right. I can go and see it in
Auckland and you guys are doing it in Christach. Have
you got any of these big gigs coming your way
that the rest of the country will have to come
to you to see.

Speaker 23 (43:27):
Yeah, and that the are the things that we're working on,
you know, and have other things that really shift the
dial when it comes to visitation here in christ Church,
and the are the things that we want to see
here in christ Church. And this is why we've got
this beautiful new venue. So it's coming. And those New
Zealand exclusives, albeit you know, they are a little bit
harder to come by. You know, people come a long
way to get to New Zealand. They spend a lot

(43:48):
of spend a lot of money getting here. So yeah,
we're certainly working on New Zealand And exclusive content.

Speaker 3 (43:55):
So just watch this space. Has anybody from Dunedin called
you yet? And told you, told you you're cutting their lunch.

Speaker 23 (44:02):
I have had a wonderfully congratulatory text from the CEO
of Dunedin Venues.

Speaker 3 (44:08):
I have yep, yep, because it must suck to be
them right now watching all this stuff going on in
christ Church.

Speaker 23 (44:16):
Yeah, look at it's going to have an impact and
it's certainly you can see that starting to happen. But
Dnedin will still get content, you know, It'll just it'll
just be a little bit more evenly distributed for a
work while.

Speaker 3 (44:28):
Yeah, good stuff. Hey, congratulations, Caroline, really appreciate time. That's
Caroline Harvey, ta Venues, Autotahi Chief Executive. Right, let's deal
with the dogs next five to twenty one.

Speaker 1 (44:37):
The name you trusted to get the answers you need,
it's Heather Doper Clan drive with one New Zealand coverage
like no one else news talk.

Speaker 3 (44:47):
They'd be David Seymore's announced today Farmac's going to fund
a couple more medicines for people with leukemia. So we'll
have it with Blood Canceler. We'll have a chat to
him after the news. Right now, it's twenty four past five. Now,
can I suggest to you that we we are too
squeamish about the fact that we need to kill dangerous dogs.
Shane Jones was on the radio this morning being interviewed
about the morning to death of that woman in Northland yesterday,

(45:08):
and he said that we need to kill dangerous dogs
like his father's generation would do in Northland. They just
shoot them. The interviewer did not want to talk about that.
He wanted to talk about other things like desexing the
dogs or punishing the owners. Shane Jones had to say
about three or four times that dangerous dogs need to
be killed before the interviewer would even acknowledge that he
had said that. And then after the interview came out

(45:31):
a news report with the headline severe jail terms needed
for owners of dogs. Shane Jones says, yeah, he did
say that. He did say they need to go to jail.
He also said though, that we need to kill the dogs.

Speaker 4 (45:42):
Now.

Speaker 3 (45:42):
I'm not ripping on anyone here because I think saying
that out loud is actually a very hard thing to
do unless you have reached that conclusion yourself. But tell
me you haven't reached that conclusion. Tell me Shane Jones
is wrong. The dogs at this property in question apparently
terrorized people passing by, according to a neighbor, and pack
attacked a neighbor's dog. Dog control had been called. They
visited the property, but the dogs were left there and

(46:03):
then the dogs killed their owner. Mid last year, a
girl was attacked in a park in Titani by a
roaming dog. The dog was seized and then it was
released by the council dogs that attack should be killed.
Last year in Auckland there were nearly six hundred reported
dog attacks. Only six dogs were killed. Now, I realize
we love our pets very very much, and that's fair enough,

(46:24):
but we need to get way tougher when dogs are
dangerous or actually attack. We need to lower the bar
right down on what we accept. But I suspect that
before we can get tougher, and before we do lower
that bar, we need to get way less squeamish and
actually talk about it like it is a real option
to kill.

Speaker 2 (46:41):
These dogs ever due for see ellen n is.

Speaker 3 (46:46):
The text number on that one. Oh the Infrastructure Commission.
Listen that idea yesterday of the nine dollar toll on
Auckland's Harbor Bridge and then whatever new bridge is also
built has gone down clearly like a cup of cold
sick for obvious reasons, were paid for the bridge, ready
to pay for it again. The Infrastructure Commission has had
to come out today and clarify this. They've had to
say they haven't undertaken a detailed comparison of what actually

(47:09):
should be paid and by whom and how. They haven't
specifically recommended a toll. They just put an idea out there,
so just in case you. But this is maybe in
part because now there are calls from the Taxpayers Union
for the government to rule out a bridge tax or
whatever it is. I mean, clearly it was just a
spitballed idea, but whatever. Listen, can I suggest another thing

(47:30):
to you, which is that the Foo Fighters are, in
fact the greatest modern rock band, the greatest band of
their generation. I cannot. I've been racking my brain about
this for days because myself and the four year old
were listening to the Foo Fighters in the car the
other day and I thought, is there a greater modern
rock band than the Foo Fighters? They are the greatest,
aren't they? So we had a look at it. They've

(47:51):
got fifteen Grammy Awards. The only other band that comes
even close to that is you two's got more right
at twenty two Grammy Awards. But you two are of
a different generation, and in the current generation, there is
no other band that comes even close to fifteen Grammys.
Not only that, but I would like to suggest to
you that Dave Grohl has been given a raw deal
in history because everybody raves about Kurt Cobain. But all

(48:14):
Kurt Cobain ever did was write some sad songs and
then sing them with a curtain of hair across his face.
Like where he's been weirdly mythologized. Doesn't He's actually like
he was good and he kind of captured the zeitgeist.
But surely we have to accept that the number of
bangers that Dave Grohl has put out, he is better,
isn't he. I mean, this is not a this is
not controversial thing to say, is it. Anyway? The Huddle's

(48:36):
going to be with us shortly, we'll put it to them.
Jack Tame and Tim Wilson will bear us. News is next.

Speaker 1 (48:44):
On your smart speaker, on the iHeart app, and in
your car on your drive home. It's Heather Duplicy Ellen
Drive with One New Zealand and the power of satellite
Mobile News talks.

Speaker 5 (48:55):
That'd be.

Speaker 2 (49:01):
Stark.

Speaker 3 (49:01):
Boss is going to be of us after six o'clock,
talk us through what she's seeing in terms of an
economic recovery. The Huddle is standing by got Tim Wilson
and Jack Tyne. This evening, Heather Nirvana significantly out sALS
and outstreams Foo fighters and total album sales and overall
equivalent units despite having a much shorter active career and
many more iconic hits. Controversial call at the end, they're
mate twenty four away from six Now. Farmac is considering

(49:24):
funding two new medicines for blood cancer. Neither of the
treatments are a cure, but they will give sufferers more
years to live and they could be available as soon
as May this year if Farmac says yes. David Seymour,
Associate Health Minister responsible for Farmak, is with us. Hello,
David hey ever. I mean we say Farmac's considering it,
but it's obviously going to happen, isn't it.

Speaker 5 (49:44):
Yeah.

Speaker 24 (49:44):
I mean they do have to do their final sign off,
but it's got to the point where they say they're
proposing to fund it, which means that while they have
the final say, this will happen and there will be
two new blood cancer medicines, and they will help an
estimated eighty to ninety people every five years with what
is quite a rare but brutal disorder.

Speaker 3 (50:07):
Are you guys public about what the cost of this is.

Speaker 24 (50:11):
We're not, simply because the people that are selling it
to FARMAC and FARMAC both have an incentive to keep
it secret. I'd like to think we're getting a good
deal and the vendors won't want the rest of the
world to know what we're getting it.

Speaker 3 (50:24):
For now, I saw that you will. Also, Farmac will
also allow people who are already paying for these drugs
privately to be able to continue getting it privately, rather
than having to stop what they're doing and go into
the public system. This is common sense, isn't it.

Speaker 2 (50:39):
Yeah.

Speaker 24 (50:39):
I mean this is something that came from a street
corner meeting two years ago in EPSOM, and I had
a guy who was a patient say to me, this
is ridiculous. Paid my taxes, paid for my farm, make
medicines should I need them. I've also gone above that
and paid for my own private health insurance. But I'm
not eligible to at FARMAC funded cancer treatment in a

(51:02):
place like Canopy or a Southern Cross hospital or other
private facility, and I couldn't fault the guy. He had
a point. So we've actually changed that. Initially only if
a new medicine is funded by FARMAC, but it's one
that you're already paying for privately. So in the past

(51:24):
FARMAC might start funding something that you've previously been paying
for and you have to keep paying in a private setting.
We'd like to get to the stage or I would
like to get to the stage where all medicines that
are funded by FARMAC, if you have the administration done
in a private hospital or cancer clinic, well, look, you
paid your taxes, you deserve your medicine. That would put

(51:45):
some extra cost onto PHARMAC. So we haven't gone all
the way yet, but certainly, when these medicines are funded,
anyone who's been privately funding them to date will be
eligible to continue their treatment. But with public funding through FARMAC,
how much.

Speaker 3 (51:59):
More expensive is it for them to continue doing it
in a private hospital rather than publicly.

Speaker 24 (52:05):
Well, for the cost, the cost is the same, but
the problem is that at the moment there are quite
a lot of people getting treatment that they are paying
for in order to get it done administered within a
private hospital, which is their choice. If we paid for everything,
then it would be tens of millions more off the
pharmac budget, and that would constrain the amount of new

(52:28):
medicines that we can fund, which we like doing. So
that's the challenge. I think the right thing to do is, Look,
you paid your taxes all your life. If you also
pay for Southern Cross or private healthcare and you want
to get it administered there, you should still get access
to your medicines. I think that's fair. But that doesn't
mean that adjusting to that world is costless. And so

(52:49):
we're going to We've taken one step. If it's funded,
if it's newly funded while you're already getting it, then
we will start funding it through pharmic but not for
everything just.

Speaker 3 (52:59):
Yet, David, completely different subject. But this is the first
time I've spoken to you since the Alery Levy thing.
Are you guys going to you're going to support this levy?

Speaker 24 (53:09):
Yeah, it's a government policy. The ACT Party is signed
up to support government policies. It's equally true that we
are listening. There are people who are concerned about will
this be effective at getting power prices down and will
the cost of it actually mean that my power bill
adds up higher. Now we can have that argument back

(53:33):
and forth, but we're actively listening and we are open
to the possibility that if there was another way to
do it, then maybe we'd take a look at that.
I think we should always be.

Speaker 3 (53:46):
Open to that there is another way to do it, though.
The other way to do it is to sell down
some of the government's stake in the retailers.

Speaker 24 (53:53):
Yep, So recycling just asking the simple question, do we
need to own these shares in these power companies or
would it be better to own a gas terminal so
you can get gas in the dry years bring the
electricity price down. Would that be smarter all together? I
think that I think that very well might be true.
So look, I'm just saying we're open.

Speaker 3 (54:13):
To you considering this. You are considering maybe pulling your
support for the levee and putting your support behind asset recycling.

Speaker 24 (54:22):
No, no, I'm not saying that I'm not going to
break from the government. We need a stable government. But
I think it's fair to say that right across the
government there's always the possibility that things will change. I mean,
if you look at the Auckland planning issue that was
obviously something the government signed up to.

Speaker 3 (54:41):
Your suggest the government, the government may in fact change
its mind, the whole coalition may change its mind on
the levee.

Speaker 24 (54:48):
Well, the Government's done that on a number of issues.
So all I'm saying is that, you know, always listen
and don't rule things out. But sitting here right now,
I can tell you that the Government's made a commitment
and the act Party keeps its commitments, all.

Speaker 3 (55:04):
Right, David, thanks very much, Really appreciate that, David Seamoman,
it's the responsible FARMAC. Very interesting, isn't It might change
the mind on it.

Speaker 1 (55:10):
Eighteen away from six the huddle with New Zealand Southeby's
International Realty, a name you can trust locally and globally.

Speaker 3 (55:18):
On the Huddle of This is Evening, Tim Wilson, Maximum Institute,
Jack Tame, host of Saturday Mornings in Q and A
Hell are you too?

Speaker 5 (55:23):
Hey there?

Speaker 2 (55:24):
Coming right?

Speaker 23 (55:24):
Tim?

Speaker 3 (55:25):
What did you make of that first call from the
new Reserve Bank governor?

Speaker 4 (55:29):
Yeah, Look, it's good to see that the rbn Z
isn't overacting to that inflation figure. I was expected to
come down to about two percent in the next twelve months,
which is more good news. It's good for the government.
Voters like low cash rates and here's the winning factor
as well. I think this might thaw out the relationship
between doctor Ola Bremen and Winston Peters.

Speaker 25 (55:47):
What did you think, Jack, Yeah, I thought, say it
with a pretty straight bank no major surprises always good
when there are no major surprises from a central bank.
Having there are some pretty like some pretty noisy data
points at the moment, whether it's the inflation figure, whether
it's the recent unemployment data. You look at some of
the business confidence sentiment that sort of seems slightly out
of wat with some of the economic indicators at the moment.

(56:09):
So I think, you know, keeping things pretty steady makes
a lot of sense. It's going to be very intriguing
to see how that the forecast of the projection forward
change over the next few months, knowing now that the
RBNZ is probably looking more likely than not to start
raising rates at about election time, which could be very
interesting and it will be a bit of a battle

(56:29):
of the narratives. But yeah, today are pretty solid first
out thing for the new government.

Speaker 3 (56:34):
Listen, remissive me not to get your take on what
David Seymour just said, Tim, did it sound to you
like there is just a bit of a possibility there
that the entire coalition government may drop this idea of
the gas levee.

Speaker 2 (56:47):
Yeah.

Speaker 4 (56:47):
I felt like he was having a bit both ways.
So so I'm not I'm not quite sure that the
coalition is going to do a U turn just yet.
My understanding though, is that this this LNG plant won't
necessarily lower domestic power prices. It's sort of insurance for
those those years. I guess if there's more power available

(57:08):
that might bring prices down, but it's pretty slow, slow walks.

Speaker 25 (57:12):
I think the argument is that they will will lower
the prices relative to relying on a gas supply in
New Zealand that is dwindling and potentially inconsistency, you know,
so relative to the big surges that you saw in
winter eighteen months ago. I think I think that's the
argument at the moment. Look, Look, I think he was
positioning himself to say, if there was a huge public

(57:34):
backlash against the proposed levy, then the government might be
forced to look at an alternative funding mechanism. I don't
think from what we've seen so far, there is a
sufficient public backlash, and I don't think the ACT Party
would be willing to destabilize the government going into an
election over that.

Speaker 3 (57:51):
On Jack, because we haven't seen any polling at all, have.

Speaker 25 (57:53):
We Well, I just I mean just vibes, essy n
empirical data. But that could change, and especially hitting you know,
over the next couple of months with the election and
the you know, and they're not too distant future, you
can imagine people being a whole Lop white team.

Speaker 4 (58:12):
Here's the deal, here's the deal. There's a there's actually
a mechanism available right now text nine two nine two.
Let's fire up the ZB text machine and see what
they say.

Speaker 3 (58:22):
Let's let's do better than Jack's vibes and see what
we actually think. Do we hate the gas tax? I'll
take that. Okay, we'll take a break as well to
the huddle. And I don't know if I'm going to
thank Tim for this quarter.

Speaker 1 (58:32):
Two the huddle with New Zealand Southeby's International Realty, the
only truly global brand.

Speaker 3 (58:39):
Right, we're back of the huddle, Tim Wilson, Jack Tame here.
You guys go hate the gas tax, hate it. We
need gas sell sell sell, which I'm assuming means sell
the assets, hate the tax, hate the tax. The gas
tax is fair and reasonable. I don't know what this
majority hating it isn't it, Jack.

Speaker 25 (58:56):
I'm surprised that anyone is supportive of the gas tax.
No one likes a gas tax. It's just the question
is whether or not it's sufficient enough to meaning Felicia
to dial in terms of political support in order for
a government to change his position.

Speaker 4 (59:09):
Yeah, that's a good point, Jack.

Speaker 3 (59:11):
Yeah, I don't know if it's big enough. But I
think a lot of people hate it, But I don't
know if it's big enough. Now, Tim, how do you
feel about us needing to get a little bit lea
squeamish and just start killing dangerous dogs.

Speaker 7 (59:22):
Yeah?

Speaker 4 (59:22):
Look hergery to Tory, and I agree dangerous dogs should
definitely meet the consequences of their behavior. But I want
to go for the owners as well, and I think
that's that's also a problem. Like the Dog Control Acts
of ninety ninety six, Section fifty eight. Obviously, I've looked
this up. The owner of any dog that causes any
person tax any person causes a serious injury to any person.

(59:45):
It actually doesn't address deaths caused by dogs and so
that needs to be looked at as well. So we've
got we've got a two fold approach here.

Speaker 3 (59:52):
Yeah, which do you think is going to be more effective?

Speaker 5 (59:54):
Though?

Speaker 9 (59:55):
Jack?

Speaker 3 (59:55):
Is it killing the dog or punishing the owner?

Speaker 5 (59:58):
Do?

Speaker 25 (59:58):
I actually wonder The funny thing about deterrence is that
I feel like, if you are so responsible that you
are letting really dangerous dogs roam everywhere, actually you're the
kind of person who's not going to be paying much
attention to a change in the law which will enhance
the penalties against you, you know, which is why I think
actually a much stricter position on dogs, you know, makes

(01:00:19):
total sense. I mean, for the most part, I think
the vast majority of dog owners are totally responsible people.
But there are some people, and you just see them
every now and then, and it's like, how on earth
can you be comfortable with that a dog of that
breed unsecured roaming around? It's really freaky.

Speaker 4 (01:00:38):
But here's the deal, Like that, sure that, you know,
you destroy that dog and then then the schmuck goes
and gets another dog and behaves in exactly the same way,
and we're back where we started for it, Which does.

Speaker 3 (01:00:50):
Ten bring us to your point right, you kill the
dog and then you put a ban on that person
ever owning a dog again, or whatever the decision is,
so that if you find that they have got another dog,
you don't need to worry about whether that dog doesn't attack.
You just take the dog off them immediately because they're
not supposed to have one.

Speaker 9 (01:01:05):
Yeah, So that is that's perfectly reasonable, and that that.

Speaker 3 (01:01:09):
Does go some way to making the argument you've got
to go for the owner and the dog at the
same time. Now, Jack, is it a controversial call to
say the Foo Fighters are the greatest rock band of
their generation?

Speaker 25 (01:01:22):
No, I think it's a pretty good call.

Speaker 11 (01:01:24):
You know what they are.

Speaker 25 (01:01:25):
They are a Goldilocks band. Like they're hard, but they're
not too hard. They're not like system of a down hard,
you know what I mean. So they're like, I feel
like they've got a real kind of cross generational appeal.
So if you were, if you were to have a
preferential vote across rock fans worldwide, I think this very
very good likelihood that the Foo Fighters have come in

(01:01:46):
number one or very near to it.

Speaker 4 (01:01:48):
Quite tim absolute load of complete rubbish. And let's talk
about credentials to weigh in on this four a start.
I was listening to the Foo Fighters with my four
year old oh Na nana poopo. That says nothing about
you note quoting our three year old here. That says
nothing about your ability to discern true rock and roll.
My hair was halfway down my back in the eighties

(01:02:09):
and I was playing motor head on my squash racket.
So here's the deal. Foo Fighters rubbish, Kurt Copaine, Cobain
is everything. Grole doesn't have the poetic flourish that someone
like Kurt Hag has. You want dog sausage, you go
to Groll, you want salami.

Speaker 3 (01:02:25):
It's but if you want poet poetic flourished, listen to
poetry and we're not. We're not tuning into it to
hear somebody be all like.

Speaker 25 (01:02:39):
And the food Fighters of different generations.

Speaker 3 (01:02:41):
They are of different generations. No, but what I did
was I then doubled down and also said Dave Grohl
is much much better than Kirk Cobain, who's completely overhyped.

Speaker 4 (01:02:53):
No, well, I don't want to stream.

Speaker 25 (01:02:55):
Kurt Cobain benefits from the infame that comes from an
untimely death. But Kirk Cobain probably does to a certain
extent benefit from the infemy that comes from an untimely dear,
which is not to say I don't think he was
an incredibly gifted artist. But you know there's something kind
of eternal, isn't there.

Speaker 2 (01:03:11):
Is he in the twenty seven club?

Speaker 3 (01:03:13):
Yes he is. He is in the twenty seven Go yeah,
and here's another one for you, Tim, somebody else in
the twenty seven club. Just to add to Jack's point,
Jim Morrison completely overrated. I mean, yeah, he was a
hot babe, but as songs it kind of sucked.

Speaker 2 (01:03:27):
No, they don't.

Speaker 4 (01:03:28):
No, boy, Okay, you just opened up a candle walk past.
Let's see what nine two nine two as to say
about you denigrating Jim Morrison and the doors go for
your life.

Speaker 2 (01:03:38):
New Zealand.

Speaker 3 (01:03:39):
Thank you, Tim, appreciate it. Lads, Thanks very much. Have
a lovely evening, Jack Tame Tim Wilson. Actually, while I
was listening to The Food Fighters with the four year old,
I explained this is the Food Fighters again, and then
he said to me, Mummy, why were they fighting the
food I don't think any of us know. Seven away from.

Speaker 2 (01:03:54):
Six it's the Heather Duple.

Speaker 1 (01:03:57):
See Allen Drive Full show podcast Hard radio powered by
News TALKSBI here.

Speaker 3 (01:04:04):
The foo fighters is a term used during World War
II to classify UFOs. Thank you, Now I can go
back and explicit. Then I can't go back and explain this,
because and then I'm gonna have to start opening up
a conversation about UFOs, aren't I and I think we're
already just we're sort of we're trying to explain ghosts
at the moment, so I don't need UFOs popping up
in our dreams. Four away from six now told you yesterday,

(01:04:26):
keep an eye on what's been What's going on with
this ISIS camp, the Roge camp over in Syria. It
now is getting a little bit more complicated with the
ISIS brides trying to get back to Australia. The Albaneze
government has slapped a temporary ban on one of them.
She's not going to be able to come back presumably
with whatever kids, whatever number of kids she's got there.
So there are eleven ISIS linked women, twenty three children.

(01:04:50):
One is temporarily banned, and three of the women are
considered high risk. And this is going to blow up
into potentially quite a big political issue over there. Now,
what about this I've got to tell about this kid.
I was reading about this kid in the newspapers that
I thought, you're a legend, aren't you? Stamers Rupert Heslop
Ducks at Havelock North High last year he did so
well in his scholarship exams at the end of the

(01:05:10):
year that he's going to receive one of those awards
that they get from the Prime Minister. There's thirteen New
Zealand Premier Scholarship winners and he's going to get one
because he's received outstanding scholarships in accounting, chemistry and statistics,
and then additional scholarships and biology, calculus and physics. It
wasn't an accident and it's not just his brains. He
got his results back at the end of year eleven,

(01:05:31):
thought I'd it better than expect it. If I work
at this, I could become the Ducks. So he set
the goal of being the Ducks and then he would
go to school every Tuesday at seven point thirty, meet
his deputy principal and start preparing for his scholarship exams.
Isn't that dedication? That's incredible a anyway, So he's off
to Auckland University for a biomedical science degree and if

(01:05:51):
he carries on the way, he's going to be outstanding
in the future, isn't he? Spark Boss with us next
on what's going on with the economic recovery Newstalk ZB.

Speaker 4 (01:06:01):
I don't pay.

Speaker 1 (01:06:06):
Back were Business Who meets Insight the Business Hour with
Heather duple c Allen and Mas Insurance and Investments.

Speaker 2 (01:06:21):
Your futures in good hands, Us talks b.

Speaker 3 (01:06:26):
Even in coming up in the next hour Milford Massett
management will talk us through the company reports today, Jeanne
tib Shraney will talk us through that OCR decision and
then Gavin Gray is with us out of the UK
right now, it's seven past six now. Spark has rebounded
from its disastrous first half year last year. Its net
profit has nearly doubled to sixty four million dollars. Unfortunately,
it is still short of analyst expectations of closer to

(01:06:48):
one hundred million. Jolly Hodson is the chief executive. Hi,
Joli Hi. He that you must be relieved to get
a decent one out of the way. I'm really placed.

Speaker 26 (01:06:55):
I think we've had a step up in the business
and we're really delivered on the things that we said
we do last year.

Speaker 3 (01:06:59):
Yeah, now you're seen as something of a bell weather
as well for the economy. So what are you seeing
out there?

Speaker 26 (01:07:05):
Look, I think it's make still, but I think I
feel like the economy sort of finding its footing. I
can say that like that consumer, we're starting to see
some improvement. I think in business there's still a bit
of low spind happening, but as I look forward, I'm
positive about that.

Speaker 3 (01:07:18):
Outlook, what's going on? Is there still a bit of caution?
I think so in terms.

Speaker 26 (01:07:22):
Of that, and different sectors are experiencing different things and
so the recovery is not the same for everyone. But
when I look at activity, whether it's like new iPhone
launch or things like that, we have seen a bigger
pick up in those sorts of things. So what do
you How long do you reckon it's going to take
us to get back to what we would have considered
a level of normal pre pandemic. Oh, I need a

(01:07:43):
pretty good crystal.

Speaker 3 (01:07:44):
Ball for that one. Hither is it this year?

Speaker 7 (01:07:46):
Though?

Speaker 26 (01:07:46):
Because you get you know, as you go down through
calendar twenty six, I think you're still probably a little
bit towards the end, but there are some promising signs
and ultimately sumer confidence is an important part of that.

Speaker 20 (01:07:58):
Yeah.

Speaker 26 (01:07:58):
Yeah, and so I think it's making sure that businesses
were investing, which we are and we're still innovating and
doing new things.

Speaker 3 (01:08:05):
I think that's part of.

Speaker 26 (01:08:05):
How we left forward as a as a country.

Speaker 2 (01:08:09):
Really.

Speaker 3 (01:08:10):
Yeah. Now, let's talk about your business a little bit.
To see you're losing a bit of market share with
the mobiles. What's happened there, Well.

Speaker 26 (01:08:16):
If you look at the mobile revenues, we actually grow
our revenues one point six percent, which is up on
the prior period. Small, but we're market leader by some
distance in terms of about five cheer points there. And
we did see some competition and around sort of envy
and o which is more of your maybe energy bundles
and things like that.

Speaker 3 (01:08:34):
Oh yeah yeah, and so they've nibbled away us this pattern?
Is it two degrees?

Speaker 26 (01:08:39):
No? No, more like an energy so like a power company.

Speaker 3 (01:08:43):
Ohways, see the power company is the one leading the
way on this. Oh I see. Okay, the weather, I
mean I was thinking about this when the weather was happening.
I thought, Okay, we're talking a lot about how people
are faring here, but a lot of you guys, there's
a fair amount of infrastructure you've got out there has
a best you about.

Speaker 26 (01:08:58):
So the infrastructure at South Mobile sites and things like
that haven't been impacted. But of course we really heavily
on power. So when power is impacted, we either have
battery back up or we have gen sets going to
different sites, and of course that needs to be delivered
in a way afraid to cut off and things like that.
That does make that challenging. So we focus really hard
on working across the industry to make sure we can
stand it up, you know, stand up service for everyone

(01:09:20):
as quickly as we can.

Speaker 3 (01:09:21):
Are you guys doing things to adapt? Because this is
what the conversation is at the moment, right, how do
we adapt and prepare ourselves for this to happen on
the regular? What are you doing for that?

Speaker 26 (01:09:30):
I think if you think about that, we're looking at
so battery lives, we're also looking I mean, we work
closely with the power industry. Might add as well in
terms of when you think about recovery, where are they
going to go first? What does that mean we go
to separately, So we work across industry. With significant weather event,
so you do think about where you build your infrastructure,
but the reality is if you're locked across New Zealand
in this last few weeks, it's you know, we've had

(01:09:52):
with the events in many places, so it's not like
you can say, well, you won't do it there and
you need it's critical to everybody commune, locating and living
their life.

Speaker 3 (01:10:01):
So yeah, for us, it's just really around how do
we continue to build resilience but also work closely with
other infrastructures to make sure that if we are making
investment is sensible across a lot of us. Speaking of
which you haven't and you're going to launch this year
the mobile to satellite service here is that Starlin, I
can't say, Heather, we will say when we launch, we
can take from that what we will. How are you

(01:10:23):
finding AI? Because I see one of the things that
popped up today was you're finding AI is increasing your productivity?
How was that?

Speaker 13 (01:10:28):
So?

Speaker 26 (01:10:28):
If you look examples like in our contact centers, speeding
up information about a customers so that our agents are
able to help them better. If you think around we
just talked about infrastructure, So some of the things we're
trialing right now is AI using that technology to a
cell site somewhere make sure if the pal's not required
at the same level, that we can adjust it remotely

(01:10:50):
and do those things that you've just been trying it
down from it out.

Speaker 3 (01:10:54):
Yeah, that's right.

Speaker 26 (01:10:54):
And then also looking at coding, you know, things like that,
how do we help with natural language? Now you can
do a lot more faster. You have so human reviewing
what's happening. But it's spreeding up some of the dross
as well in terms of the day to day work
that people are doing. So we're just looking at it
very much now from a processhin ind because of course
you just move work down a process if you only

(01:11:15):
focus on one side and don't Yeah, yeah.

Speaker 3 (01:11:17):
Do you think that this is the solution to our
productivity problem in countries like New Zealand? I think it's
certainly something that and I've had someone say to me,
why wouldn't you want thirty percent more brain power that
you get from something like that or to be able
to remove where And I definitely think it's something that
we should be adopting.

Speaker 26 (01:11:34):
It is happening globally. It will help us with productivity.
It's always about finding the things that are really useful
though for your organization, and not everyone's the same, so
it's about I suppose. But what I would say to
people is if you're not testing and trying and really
understanding how you could do it, you're going to get
left behind because your competitors will be totally jolly.

Speaker 3 (01:11:52):
Thank you for coming in. It's been great to chat
to you.

Speaker 26 (01:11:54):
Thanks Hether.

Speaker 3 (01:11:55):
Jollie Hodson, CEO, Chief executive Rother of Spark. Right now,
wh it thirteen past six dup for sel Okay, get
a load of how big the waves got on the
cook Straight earlier this week during the storm. Definitely three stories,
they say, possibly up to four. It's slightly contentious because
the biggest wave recorded was thirteen point six meters. Think

(01:12:15):
about that, thirteen point six meters. It's a monster. The
trouble is the data is unreliable because the boy that's
out there measuring the waves actually snapped. The waves are
so big it snapped the buoy about half an hour
before that big wave was recorded. So officially the wave
that came through biggest high, the highest wave that came
through before the thing broke is seven point one meters.

(01:12:38):
They definitely say the waves got over ten meters. They
can be sure of that, but it may be as
high as the thirteen point six meters. That's four stories.
Look at Just look at you. If you're I'm surrounded
by buildings right now, as I'm looking outside looking at
where four stories is man alive. You wouldn't want to
be out on that, will you wouldn't be? But you
wouldn't want to be, would you? Fourteen past six.

Speaker 1 (01:13:00):
It's the Heather Duplessy Allen Drive Full Show podcast on
my Heart Radio, empowered by Newstalks EBB. Crunching the numbers
and getting the results. It's Heather Duplessy Allen on the
Business Hour with Mass Insurance and Investments, Your futures in
good Hands, News Talks edb Uh.

Speaker 3 (01:13:20):
If I get a chance, and I'm going to have to,
I need to give you a little bit of a
heads up of what's going on in Australia with Pauline Hanson,
what she's been saying one Nation, what they've been up to.
Seventeen past six. Right now, Jeremy Hutton Milford Asset Management
is with me, Hi, Jeremy.

Speaker 5 (01:13:33):
Good evening, Heather.

Speaker 3 (01:13:34):
Right, so we've had a bunch of results. Let's start
with Fletcher Building what's the market reaction being to this announcement.

Speaker 21 (01:13:42):
Yeah, there was a reasonably subdued reaction today from the
market for Fletcher Building.

Speaker 5 (01:13:46):
The chef rice was largely flat. I would not have
just note that the chef.

Speaker 21 (01:13:51):
Rice had had a pretty strong run over the back
part of last year. I was up around twenty twenty
five percent, and a lot of investors were being early
movers on the New Zealand cyclical recovery story. Now, I
would note again that the results they're still highlighting that
the construction market in New Zealand is still very subdued.
So perhaps the share market have got a little bit

(01:14:11):
ahead of itself. But investors are looking really closely at
the space. I mean, the listed companies exposed there, flitch
As being one of them, are of a lot of
interest to see that cyclical recovery, and I think if
you see some of that evidence come through in the
hard data, then the share prices of these companies should
react pretty strongly.

Speaker 3 (01:14:29):
They said that they are not expecting things to improve
very much until twenty twenty seven, so investors are going
to have to be patient, aren't they.

Speaker 21 (01:14:36):
Yeah, yeah, they will have to remain patient at this point.
I mean, the business has another strategy of just simplifying things,
you know, focusing on their core strengths, which is the
building materials products. You know, this is hopefully putting a
little bit less risk, a bit more predictability into the
earnings and in the theory, the market should reward this
with a high evaluation. And they have taken some steps

(01:14:58):
towards this. I mean, some of thegacy issues that's plagued
the business in the past appear very contained, and they've
sold their construction division, which which has been a little
bit of a headache. But I think the main thesis
for investors they will hope that the economic cycle will
improve things from here. But you know, the business is
doing a good job, you know, positioning itself to take
advantage of any upswing.

Speaker 9 (01:15:19):
Yeah.

Speaker 3 (01:15:19):
And then on Spark, we were just speaking to the
ce as another company that's been struggling. What's the market
thinking about this result?

Speaker 21 (01:15:26):
Yeah, very in line results from Spark today, and I
think given some of the disappointing updates they've had, they'll
probably take this one. But they do produce some really
interesting read throughs for the wider economy, I mean, the
mobile market that's still growing really really slowly. I mean
low immigration isn't helping. But also unfortunately for Spark, they

(01:15:47):
do they are still losing a little bit of market
share and mobile to cheaper alternatives, so you are you
are seeing trading down in the mobile market. And then
you know, the business and government spending still pretty weak
and continues to pull back, so you know, continues to
highlight Kiwi's businesses. They are remaining very tight with their spending.

Speaker 3 (01:16:05):
Still, is this the bottom do you think for Spark?
Is Spark now an attractive option for investors?

Speaker 21 (01:16:12):
Yeah, we'll be attractive to some investors. I mean it's
traditionally viewed as a very steady business and that pays
a big dividend, and it was important that they've stabilized
the financials. I think they've done. One result of this,
they're retained therefore earnings guidance and cash flow numbers, so
that's important. And as long as they continue to defend
that dividend, I mean it is trading it at multi

(01:16:34):
year highs that dividend yield, so that will be attractive
and if they can put a string of good results
together then it should get back in favor again.

Speaker 3 (01:16:41):
That stuff Jeremy. Always good to talk to you. Thank
you so much, mate, Jeremy Hutton of Milford Asset Management.
Heather waves of twenty meters plus were measured at slung
cop Off Cape Town in twenty seventeen and similar before.
Basically this is one upping, isn't it. This is like, Oh,
I take your thirteen point six met a wave at
Wellington and I'll give you a twenty plus a Cape Town.
The wave boy. Oh, here's some more. The wave boy

(01:17:03):
has been there for over forty years and survived the storms.
It's more one uping. Oh our wave boy in Cape
Town lasted its twenty meters, couldn't take it out, and
yours kaot at fourteen. Would you know what the problem is?
Probably that somebody went there and took out one of
the nuts. That'll be what it is. With the guys.
When they were finished with the transpower one up north,
they went, you know what, we're going to go down

(01:17:24):
to that wave boy. We're going to take out the nuts.
So you know we probably planned that six twenty one.

Speaker 1 (01:17:29):
Whether it's Macros micro or just plain economics fall on
the business hour with had the Dupicila and MAS Insurance
and investments, your futures in good hands. News talks v Right.

Speaker 3 (01:17:42):
It's twenty three pass six. So this is what is
going on with Pauline Hanson over in Australia. She's issued
a partial apology today for something that she said earlier
in the week, which is suggesting that there were no
good Muslims. Now the issue has come up obviously because
of what I was what I was talking about earlier,
which is the Isis brides trying to get back to Australia.
That is going to be a big problem because yeah,

(01:18:03):
it would be pretty controversial to bring them back to
any Western country basically a la Shemima Bagham in the
UK and how that went anyway. So she went on
an interview I think it was with SkyTV and she
basically said there is there are no Essentially she inferred
there are no good Muslims out there. She has now
gone on to apologize for that, saying she doesn't believe
that she has a non practicing Muslim woman in one nation.

(01:18:25):
She apologized if she quote offended anyone out there that
doesn't believe in Sharia law or multiple marriages or wants
to bring Isis brides in or people from Gaza that
believe in a caliphate and then added in general that
is what they want a world calivate. And I'm not
going to apologize. I will have my say now before
it's too late, which you know is very much a
partial apology, isn't it. She has also gone on to

(01:18:46):
say that there is parts of Australia where Western people
can't go, and she was referencing Lakember which is in
Sydney's southwest and basically suggesting it is now, you know,
so full of people of you know, the Muslim faith
that no one else wants to go there. Anyway. If
you listen to this and you go, oh that's it

(01:19:07):
for one one nation, oh they're going to in the pulse,
mark my words, it's going to have the opposite effect
because the situation in Australia is now I think so.
I mean, the people in Australia are so ill tempered
towards each other and towards migrants that I suspect that
one nation getting more and more opportunity to basically send

(01:19:27):
their messages out there the Australia. There is going to
be a proportion of the Australian vote that loves it
one nation, if you've seen the polls, is already level
pegging with the Liberals and the Nationals. So just watch
where this goes. And I think for anybody who would
like to see, you know, peace among peoples, it's probably
it's probably a little bit of a worrying sign, isn't it.
Six twenty six?

Speaker 1 (01:19:47):
There's no business like show business.

Speaker 3 (01:19:53):
There Hannah Montana. I know Miley Cyrus swallowing her pride
and she's getting back together with Disney. The singer got
her start on Hannah Montana, if you remember, which is
a kid show about an ordinary high school girl with
a secret identity as the world's biggest pop star. Now,
if I had to ask you how long ago it
was that Hannah Montana first aired on TV, what would
you say? Whatever you said, it's wrong. It's been twenty years.

(01:20:14):
So if you remember Hannah Montana first airing, it's probably time.
It's probably time to realize you're a full grown adult now.
But to celebrate the twentieth anniversary of the show, Miley
Cyrus and Disney have decided to play nice and make
a special reunion episode for Disney. Plus, it's going to
be filmed in front of a live studio audience. It's
going to include interviews with Cyrus, recreations of the show's

(01:20:35):
iconic sets like the Malibu Beach House and the Hannah closet,
and all of the outfits and wigs that she wore
over the years. They've also hinted that Miley Cyrus might
perform some of her old Hannah songs that she hasn't
been allowed to perform in over a decade. And if
you don't remember why Miley Cyrus and Disney stopped being friends,
you must not remember the time that Miley Cyrus got
up on stage and twerked and played with a giant

(01:20:56):
foam finger. In fact, Miley tried so hard to herself
from the Disney branch he unofficially killed Hannah off.

Speaker 14 (01:21:03):
But there are a few subjects we're not going to
get into tonight. I'm not gonna do Hannah Montana, but
I can give you an update on what she's been
up to.

Speaker 3 (01:21:13):
She was murdered. Now Miley Cyrus is thirty three years old.
Now the bad blood seems to have settled. And for
super fans, this is something that they've been waiting for
for a very very very long time. Which while it
is great that it's happening. Does add quite a bit
of pressure, doesn't it. If Cyrus doesn't put on the
iconic blonde wig and transform into an adult Hannah Montana,

(01:21:35):
You're going to be hearing from Twitter about that, and
a lot of the Twitter comments are going to be
coming from our producer Sam, who has got a probably
unhealthy fascination with Hannah Montana. The special will air exclusively
on Disney Plus on March twenty four. I know you're excited.
Au't you put that in your diary? Didn't you were?

Speaker 9 (01:21:54):
Like?

Speaker 4 (01:21:54):
There?

Speaker 3 (01:21:54):
It is Rugby Boss, a rugby coach announcement for the
All Blacks early in March, mid March. Hannah Montana March
twenty four March is booked out, isn't it? Genetip Traine
is with us.

Speaker 1 (01:22:05):
Next, everything from SMEs to the big corporates, The Business
Hour with Hander Duper c Allen and Mas Insurance and investments.

Speaker 2 (01:22:22):
Your futures in good hands? Used talks'd be.

Speaker 7 (01:22:27):
That.

Speaker 2 (01:22:28):
So can you come back?

Speaker 3 (01:22:31):
If it's possible to believe that there is more fallout
from the Epstein files, there is. The cops are now
looking at flight records, so Gavin Gray will get us
across that in ten minutes time. Right now, it's twenty
four away from seven. And of course the new Reserve
Bank governor's first announcement on the ocr is being described
as dubvish. New Zealand Herald Wellington Business editor jeneative Traney's
been looking at this inner's with us now, Hi, Jane hi, hever,

(01:22:54):
so she seems strangely quite unfazed by the inflation. What
do you make of that?

Speaker 1 (01:23:00):
Yeah, that's right.

Speaker 27 (01:23:01):
The market was expecting the Reserve Bank to be a
little bit more worried than it was about inflationary pressures
coming through. But what the bank did instead was to
say that it would keep the OCI at a sort
of accommodative level for some time, provided the economy evolved

(01:23:22):
as it expected. So look what that means for you
and me is that it would seem that mortgage and
term deposit rates are unlikely to keep rising in the
near term. Listeners will recall that in December and in
January those interest rates started going up mortgage in term
deposit rates. But based on current market pricing, and you

(01:23:45):
know how the market has interpreted what the Reserve Bank
has said, it seems like those rates aren't going up
anymore for now, at least.

Speaker 3 (01:23:54):
Somebody has suggested to me that it's a ruse that
actually they are worried about inflation, are more worried about
the inlay than saying But they can't say that out
loud because that would be then admitting that November's dropping
of the OCR was a mistake.

Speaker 27 (01:24:08):
Oh look, I mean people always sort of you know,
it's easy to tie yourself in a not over this stuff,
and central banks speak is kind of a language of
its own, and markets do read a lot into the
wording of what people like the governor say. I think
the challenge here that the Reserve Bank has faced was
that the market reacted differently to what it expected to

(01:24:30):
its November statement. So we talked about this on the
show in the past. Basically, they didn't expect Christian hawks
Be to close the door to further interest rate cuts
as much as he did. This caused the market to
go but nuts quite frankly, start pricing in you know,
OCR hikes throughout this year. You know, that's saw banks
push up their mortgage and their term deposit rates, those

(01:24:52):
fixed rates, those rates rose by more than what the
Reserve Bank expected you know, that did. According to the
Reserve Bank, they think that did actually stemy economic growth
a wee bit. You know, those rates going up didn't
give you know, didn't give us much time with rates
at quite low levels, you know, to just feel a
bit better about our mortgages and you know, get things

(01:25:16):
going a bit. So I think because of this turbulent time,
it made sense for the Reserve Bank to just say, look,
we're just going to keep the o CR where it
is for some time, give the economy sometime to just
you know, recover, for things to settle down, and then
take it from them. I must say, I must say,

(01:25:37):
actually the market reaction wasn't that big. So swap rates
as wholesale interest rates did come down a bit. That
that shows the dubbishness, but the reaction wasn't massive, Like,
the market wasn't terribly surprised by what the Reserve Bank did.

Speaker 3 (01:25:50):
Did it look to you like she is a little
bit worried about what's going on with the house prices
and the effect that that's having on people spending because
they don't have that wealth effect.

Speaker 27 (01:26:00):
Yeah, she did raise a really interesting point that in
New Zealand in the past, when interest rates have gone down,
house prices have gone up. And when house prices go up,
we all feel richer people who own houses do. Renters
get agitated, of course, but homeowners feel better. And you
know that the mortgage servicing costs are down and they

(01:26:21):
spend more. But what's happened now is that those house
prices have not really gone up, so that wealth effect
that traditionally has stimulated the economy is not happening. So
what Anna Breeman said was that in this recovery, we
are relying more on the labor market strengthening to and

(01:26:42):
that strength is supporting the economy rather than the wealth effect.
So the Chief Poor Conway said that actually that different
dynamic that they did see that as a risk, you know,
not because they particularly want house prices to go up,
but just because the way things are rolling out is
a different to the way they've rolled out in the past.

Speaker 3 (01:27:03):
Jane, thanks very much, appreciate your time. Janet to Trainey
The Herald's Wellington Business Edit A twenty away from.

Speaker 2 (01:27:07):
Seven Heather Duplessy Ellen, I'm saying this, but.

Speaker 3 (01:27:11):
I think I'm gonna there's a chance I get in
trouble for this because I shouldn't comment on women's appearance,
you see, I'm just setting myself up for it, aren't I. Anyway,
I like how Anna Breman looks. I think she's got
a classy style about her. She's just got a she's
got a tidy little haircut or clearly gives it a
little blowwave. Either either that or she's just blessed with

(01:27:31):
kind of the kind of you know, like straight enough
hair so it looks silky, but also not so straight
that it just hangs down limp and she could sort
of do things with it anyway, So she's got a
classy little boy haircut going on, and then does like
a block colored suit. And why I like this, I
do like this very much. Why I like this is
because I do sometimes think about the women's attire in

(01:27:51):
Wellington can be a little fussy. I don't know if
you've noticed this, but the women like this sort of
think I'm gonna go out and get a corporate jacket.
Then they go get a corporate jacket. But it's not
like a suit. It's sort of like a it's just
a corporate jacket. And the jacket costs like the jacket
costs two thousand dollars and then they've got to go
find some black pants to go with it, do you know.

Speaker 9 (01:28:07):
What I mean?

Speaker 3 (01:28:08):
But the jacket will be because it's the statement jacket.
Then it has to be patterned, doesn't. It's all bright
colors and weird shit going on it like it's something
from the nineteen eighties anyway, And it's not from the
nineteen eighties. It's recent anyway. So I'm just hoping and
all they go for something bland on the top and
then like a shirt that's really full of something anyway,

(01:28:30):
and it's like tassels and like hanging things and all
like patterns, like sloppy kind of patterns that are spoke
like texture. Anyway. I'm just hoping a lot of the
Wellington women look at Anna and go look at how
nice Anna looks in a block color, just a plain colored,
just a plain tidy little suit in one color with
a white shirt underneath, and then they maybe go and
copy that and we'll all be better for it. Yes,

(01:28:51):
I'm gonna get in trouble for one hundred percent going
to be a broadcasting standards complained about that anyway. Whatever
women can say these kinds of things about women can't
they If you have been following the situation with Willie
Jackson v. Matt mccarton, there is an update for you,
and I know you love an update, because boy do
you text me to find out why people aren't covering this?
So here he goes from Audrey Young. Apparently Willie Jackson's wife,

(01:29:14):
Tanya Rangiheyu, is on extended leave of about potentially three months.
There is some suggestion on social media that she has
been stood down by the board after a breakdown of
mediation between the Board, MUMA, the Manecow Urban Maldi Authority
and the union. That is not correct. Apparently she has
been put on extended leave because it's very stressful to

(01:29:35):
have Matt mccarton make these allegations about her. The board
has full confidence in its CEO, it says in a statement,
we are proud of her work. She is currently on leave.
She has certainly not been stood down as claimed on
social media, so they have full confidence confidence in her.
But she is she's she's taken a little sabbatical for
three months. Matt mccarton has said that he is now

(01:29:55):
having a much better time with murmur. Of late, they've
encouraged everyone to join the union. People adjoining the union.
He hasn't had the trespass order against him lifted. It's
been lifted against the union, but not against him. But
that's okay because everybody's in the union now and he
can do things remotely seventeen away from seven.

Speaker 1 (01:30:10):
Ever, it's to do with money. It matters to you
the Business Hour with Heather Duplicy, Allen and Mas Insurance
and investments, your futures in good hands, us talks'd be here.

Speaker 3 (01:30:23):
The why doesn't will you want people in the union?
I thought that would have been part of the contract
unionizodom was Willy being hypocritic? Do you know what this
whole do you know what? This whole argument between Willie
and Matt is ridiculous and it is ridiculous that I'm sorry,
but it's ridiculous that we're even interested in it because
what it is is literally a fight between two besties.
That two best friends who are just having a gigantic squabble,

(01:30:45):
and now it's in the newspapers. Imagine if the newspaper's published,
you'll fight. None of it would make sense. It's ridiculous.
Both of them are probably just being ridiculous. So who
can answer that question only they can. Thirteen away from
seven and Gavin Gray are UK correspondence with us. Hello Gavin,
why are the cops and examining the flight records FRAE
the Epstein files.

Speaker 28 (01:31:04):
Well, it's been reported but not confirmed that quite potentially
Jeffrey Epstein might have flown in on the aeroplane, the
so called Lalita Express some eighty seven times. So the
disgraced form of financier, the late disgraced form of financier
was flowing in. It's being reported to Stansted Airport, which
is big airport, it conducts international flights. It's north and

(01:31:28):
east of London, but it is one of the sort
of more relatively minor ones acquieter airport and the former
Prime Minister Gordon Brown is demanding the police re examine
whether Epstein's victims are trafficked within and outside of the UK,
because he says this really needs looking into now. The
BBC's reported that three British women who were allegedly trafficked

(01:31:51):
appear in Epstein's records of flights in and out of
the UK, alongside other documents relating to the convicted sex offender.
So what Gordon Brown is saying is look, we need
to thrash this out. This needs sorting out. We need
to do some research, and he says the scale of
trafficking will become apparent if an investigation is conducted into
the flights. Now police say they are merely looking at

(01:32:11):
it and assessing the information that fall short so far
of a full investigation.

Speaker 3 (01:32:17):
What's France's problem with the soil tanker.

Speaker 28 (01:32:20):
Well, it's the world's problem with what are called shadow
fleet oil tankers.

Speaker 11 (01:32:26):
So these are.

Speaker 28 (01:32:27):
Dubious vessels registered around the world. They seem to not
necessarily always have their satellite systems switched on, so they're
quite difficult to plot where they are going. But it
is thought these aging tankers are basically being used in
a clandestine network to evade Western sanctions of Russian oil exports.

(01:32:50):
So in other words, they're being used to carry Russian
ail around the world which would otherwise be subject to sanctions,
and it's all being done under the cloak of being
these sort of shadow fleet as it were. And France said, well,
when one got in French waters, we basically took it
and arrested it. They said they've now released it, but
only after the payment of several million euros. They haven't

(01:33:14):
said exactly how much. The tanker was seized by French
forces in the Mediterranean last month, diverted to Marseille the
port and then found it that sets so off from
Mamansk in northern Russia and was flying under the Camorris flag.
So that's why France was suspect about that. There are
lots of these vessels, incidentally, and now France is demanding

(01:33:36):
other countries, particularly those in Europe, when those vessels get
into their waters, they should be seized immediately. In January, incidentally,
British armed forces supported a US operation to seize a
Russian flag tanker in the Atlantic.

Speaker 3 (01:33:49):
Kevin, how are those unemployment numbers looking?

Speaker 2 (01:33:53):
Not good?

Speaker 28 (01:33:54):
Not good at all, particularly if you're young. So the
overall rate has climbed to five point two percent, that's
the most now for five years. But the big headline
is that for those age between sixteen and twenty four,
sixteen percent are unemployed. That's one in six of that

(01:34:14):
age group unemployed. It's the highest figure for modern ten years,
and lots of employers are saying this is a problem
the government's own making. They've increased the minimum wage for
the very youngest workers. They are also now increasing the
tax on every employee that an employer has on its books,
so no wonder now people are employing less, particularly young.

Speaker 3 (01:34:34):
Peoplekevin, go to talk to you, or talk to you
in a couple of days. Gavin Gray UK, corresponding, by
the way, on the Epstein stuff. Over in New Mexico,
they are now investigating what happened at as ranch. This
is Epstein's ranch. It's called Zoro Ranch, and of course
there are allegations of criminal activity there. So the House
of Representatives has voted, it seems basically like with no opposition,

(01:34:55):
has voted to have a look into it, to compel
the attendance of witnesses. This is power. They have their
power to compel the attendance of witnesses and to issue subpoenas.
And once they've had a look into it, they will
then decide whether other legislative action is required. Nine away
from seven It's.

Speaker 1 (01:35:10):
The Heather Tipsy Allen Drive Full Show podcast on iHeartRadio
powered by newstalg ZBI.

Speaker 3 (01:35:19):
Right, you know, I love a ute so it makes
me quite happy to tell you the Ford Ranger is
mounting a comeback now. It is very early in the
year to be I'm not gonna I'm not putting any
bets on anything or anything like that. I'm not sort
of like, no, I'm just going to hard out back it.
I'm going to hard out back the Ford Ranger.

Speaker 28 (01:35:34):
It was.

Speaker 3 (01:35:34):
And the reason that I'm interested in this is because
last year, for the first time ever, it was dethroned
as New Zealand's favorite new vehicle by the rad four.
Last month, which is the first month of the new year,
so first month out of twenty twenty five, the Ford
Rangers trying to it's trying to get it's thrown back.
It sold six hundred and eighty eight vehicles, well it registered,

(01:35:55):
and the rad Ford was only six hundred and forty one.
So it started off. Well, I think I'm backing it
is because number one you to call number two rams
are not so it's I mean, it's a no brainer.
So here we go. If you're gonna buy yourself a car,
this and like money bags. But if you're gonna buy
yourself a car't think about Afford Ranger. Stop looking at
that rap for a Libby, I would agree, not cool.

(01:36:15):
No Libby's in for ants today. AND's has taken extended
cultural leave paid Libby but lucky I'm here, Yeah, but lucky,
but lucky Libby's here. Obviously we're not unhappy about it.

Speaker 27 (01:36:29):
I'm gonna take us that on a bit of food
Fighters because kind of had to which song best of you?

Speaker 23 (01:36:35):
Because that is the food Fighter song I could name.

Speaker 3 (01:36:40):
You're saying this as if, as if for you, naming
a food Fighter song is a difficult thing to do.

Speaker 23 (01:36:44):
It was a difficult thing, This is all I could
full out.

Speaker 3 (01:36:47):
What about what about the one that goes de oh way,
can you name it? Do a What about the one
called my hero? If you sang it?

Speaker 7 (01:36:58):
I might know?

Speaker 3 (01:36:59):
What about ever?

Speaker 9 (01:37:00):
Oh yeah?

Speaker 3 (01:37:01):
Oh okay, so your depth of so what's it? And
monkey Wrench? What about monkey Wrench?

Speaker 23 (01:37:08):
I'm a fake fan?

Speaker 7 (01:37:10):
No?

Speaker 3 (01:37:10):
What what about all my Life? Which is called all
my Life?

Speaker 2 (01:37:14):
No?

Speaker 26 (01:37:14):
It's ringing a bell?

Speaker 2 (01:37:15):
Yeah?

Speaker 3 (01:37:15):
Okay. So so you're your sledging of the food Fighters
you have just you have just had to under it.

Speaker 13 (01:37:21):
They're great.

Speaker 3 (01:37:21):
Yeah, I don't you know what. I think we're bringing
ants back tomorrow because Libby has just look at what
she's done.

Speaker 11 (01:37:27):
She's just gone.

Speaker 3 (01:37:27):
She's just gone. To ruin everything, hasn't she? Libby is
lovely to have you with us. Thank you for filling
in today. You were you were brilliant. Nobody even noticed
that Ants wasn't here, you know, so don't tell him
that anyway. We'll see Ants tomorrow and I'll see you
then as well. NEWSTALKSZB, I have no fool.

Speaker 2 (01:38:03):
I'm getting tired of starting again. Someone new. Worry about
who is it? Don't be, I said, I'll never be that.

(01:38:26):
If someone get in the bat the bat the bath
and some one getting the bath that.

Speaker 11 (01:38:38):
You know that's not my taking your back and rails
the bank, your tail, the trust.

Speaker 2 (01:38:46):
Your mind. Just happen. The um get at the bast,
the bast the bath the bas

Speaker 1 (01:39:13):
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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