Full Show Podcast: 19 December 2024

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
Pressing the newswakers to get the real story. It's Ryan
Bridge on hither duplicy Ellen drive with one New Zealand
let's get connected. News folk said, be.

Speaker 2 (00:14):
Good afternoon seven after four, great to have your company
this afternoon. The recession, Yes, it's bad. Stephen Joyce will
talk us through it. After five Luxon is saying no,
thanks to WHITETANGI so where is he going? Also in
New Zealand wants us to help them find our lost luggage.
Why Stuart Nash and Jordan Williams on the huddle Ryan Bridge, Well,

(00:35):
that clearly wasn't meant to happen, was it. The Reserve
Bank engineered this very painful recession. We've all been feeling
to try and control inflation, but clearly they went too far.
It's essentially the worst recession, the worst financial state this
country has been in since nineteen ninety one and a
little alert that was thirty three years ago. So this

(00:57):
is bad. You can't tell me they did this on purpose.
Of course they didn't. They've overcooked it, they've overcorrected, and
we're all paying the price. This recession is by the
way worse than COVID because remember back then, there was
all the wage subsidies and the generous handouts, which is
also ironically part of the reason that we're in this
mess in the first place. This time it's way worse

(01:20):
because it's jobs lost, its businesses going to the wall
in record numbers, and it's young Kiwi families fleeing across
the ditch, a mass migration to basically get the hell
out of Dodge. What's worse is they've downgraded quarter two growth.
So they did have that at negative point two, now
negative one point one. What all of this tells us

(01:44):
is two things. One, the Reserve Bank couldn't predict the
tides or a sunrise. They picked negative point two. How
out of touch are they with the real economy when
the actual number was a whole percentage point different. Number Two,
you can't have your cake and eat it too, can you.
The bigger the cake, the bigger the mess. That should
have been Labour's road safety campaign. The spending spree that

(02:07):
the last lot went on, aided and abtted by the
Reserve Bank led to the drastic over correction by the
very same bank, robbing us blind with some of the
world's highest and most prolonged mortgage interest rates to try
and undo the mess that they made in the first place.
These numbers also tell us I think that Nikola Willis
is probably on about the right path. Many were asking

(02:27):
after the Hafer results on Tuesday, myself included whether the
state of the state's books and the debt warranted harsher
cuts to the public service. But today we have seen
an ugly truth and cutting further into spending with numbers
like these, you risk a spiral equally to those wanting

(02:48):
gold plated hospitals and ferrari fairies. How much more evidence
do you need between Tuesday and today that now ain't
the right time. There's champagne dreams on a beer budget.
The upside to all of this, don't worry, there is
one is that this is backwards looking. Data rates are
coming down and this should be the trough of the cycle.

(03:11):
But let's make sure of that, can we before we
get all peggy with our government spending again. Rich Thon,
after four news talks, said be an eight year old
girl has been hospitalized after a dog attack at a
Northland beach. Second time there's been a dog attack at
type of beach in just two weeks. The other victim
a woman was left bleeding on the beach with puncture

(03:32):
wounds to her legs. Local residents are suggesting that people
should avoid the area or carry weapons while they're on
the beach. Michael Tapania is the Far North mayor. Cure
to Mickael, Hey, thanks, The thing with me is this
dog being put down yet?

Speaker 3 (03:48):
Notes my understanding, it's been impounded and our stars has
to go through the proper process under the Dog's Controls
Act before whatever the next steps will happen. And it's
potentially the nation and in this case, I think it's
very likely.

Speaker 2 (04:03):
What did the owner say? Do you know when they
found out what had happened.

Speaker 3 (04:07):
No, I haven't had any like kind of on the
ground details other than just kind of a staff report
that's come through following us. So no, don't know. All
I know is it's absolutely terrible for our community, Absolutely
terrible for this poor young girl as well. And I'm
glad that she's been taken for treatment, that we've managed
to get this dog and then we'll deal with it

(04:27):
appropriately under the Dog Control It.

Speaker 2 (04:29):
Yeah, Mom says she's doing okay, she's out of hospital. Now,
do you know what type of dog?

Speaker 4 (04:34):
No?

Speaker 3 (04:35):
I haven't even had that level of detail come through
or anything like that. But I mean we've had a
spate of these across the finals, right, and so anytime
anything like this happens, it's studied terrible. And we've got
a role to play, a regulatory role to play as
the final District Council with our animal management team and
making sure that we sort things out thankfully, right, because

(04:57):
we've just had another recent attack in the area here.
We actually had an animal management officer in Pipa actually
just doing a routine patrol who was able to respond
so quickly.

Speaker 2 (05:09):
Right, Well, thank goodness for that. But the problem is
you can't have a dog control officer on every beach
at every time, right. So in the meantime, you've got
residents saying if you're going to come to type of beach,
well one they're going to many of them are avoiding
the area and if you are coming, bring a weapon.

Speaker 5 (05:25):
Oh I know.

Speaker 3 (05:26):
And see, this isn't a this isn't a dog problem.
This is a dog owner problem. If you have a
dog in the finals, you make sure that you're looking
after it properly and it can't get out. Yeah, but
they're not that you make sure it's registered.

Speaker 2 (05:40):
Residents are saying the residents are saying dog owner owners.
This is one resident MERV Priestley told an all An
Advocate dog owners are so lax around here about dogs
having to be restrained. That's because even if you get
caught with your dog unrestrained, the worst thing that can
happen is the Dog Control comes around and has a
friendly chat.

Speaker 3 (05:57):
I think you'll find that the Final District Council will
be using the full powers that we have under the
Dog Control Act to make sure that we get things
like this under control. Now, we only have twelve animal
Management officers for the Final District, which is over seven
two hundred square kilometers in area. But people of the
Finals and Manu Hitie call through our council hotline. Is

(06:21):
opening someone in the finals or answer your core twenty
four to seven hundred and nine to nine, and we
will have our animal management offices and in about throughout
the summer period to respond as best we can.

Speaker 2 (06:32):
Yeah, that's fair enough. Is your advice to locals, to
tourists rather going to these beaches, take you know, bring
a weapon, bring some kind of protection.

Speaker 3 (06:42):
On well, I mean, this could happen anywhere right now.
We've had a couple of incidents specifically here in Tayper
and doubtless Bay in our area. But I'm not going
to act any differently to the way that I usually do.
But that strong message out there is to anybody who
does own a dog, especially in this entire during the
holiday period there's a lot more people around now. You

(07:04):
make sure that you never forget to close your gat,
You make sure that you tie your dog up. If
you're tying it up, you make sure that you're looking
after it and everything like that. You just need to
have a little bit more restrictions in place on yourself,
keep yourself in check so that we can keep people
safe at the end of the day, because.

Speaker 2 (07:19):
If not, the counsel might put your dog down.

Speaker 3 (07:23):
Well, yeah, we are going to be following up everything
that comes through and making sure that dog owners are
how to account that they're not treating their animals appropriately
and keeping up others around them safe.

Speaker 2 (07:35):
All right, Michael, thank you for that. That's Michael Tapania
the Far North Mea just gone fourteen after four. Is
there anything scarier than a big, frightening, menacing dog. You know,
sometimes you find yourself walking down the street and maybe
you come across these things. There is nothing more frightening.
I can remember being a kid and seeing that this

(07:55):
giant pit bull just roaming around and you you absolutely
pack yourself. And if they start running towards it, even
if they're not barking, it's a frightening thing to happen.
So to have them attacking people on beaches, this is
not a good thing. Nine two the number to text.
Just go on. Quarter past four. Darcy is next with
Sport who will take.

Speaker 1 (08:16):
The White House results and analysis of the US election
on Heather Duplessy Alum Drive with one New Zealand Let's
get connected news talk Sai'd be Sport with a new
tab app downloaded today eighteen bed responsibly.

Speaker 2 (08:32):
Seventeen after four. Somebody who is accusing me of scaremongering
about pit bulls. I'll come to that in a second.
Right now, Darcy is here with sports sports talk hosts. Hey, Darcy,
what did you say? I just said that when I
was a kid, I was alone on a street once
and there was a roaming pit bull that started running
towards me and I was frightened. Now, I'm not saying
all peoples are bad.

Speaker 6 (08:52):
I understandable saying.

Speaker 2 (08:53):
I packed myself because I saw one.

Speaker 4 (08:55):
You know that sounds it's not that's not scare technics.

Speaker 2 (08:59):
Terrible, but what's happening up north is quite scary, and
so we will get some of those texts.

Speaker 4 (09:04):
Worry about sport. Hey, if you want to push a
bet through this weekend, you know, habitually or just as
you don't beat more than you can afford to lose.
It's the main thing. So you know, if you're a billionaire,
knock yourself out. But if you like me five bucks,
it's a bit like it's R eighteen. You've got a
bet responsibly. Here's my one for this with Fridays tomorrow night.
So the Breakers are on a backward tear. They're terrible.

(09:26):
They've lost six on the bounce. Okay, they've played a
lot of these games home games that are away from home.
Warnings in Christ DUTs to be over the ditch. In Australia,
this has to turn because basketball is a game of runs.
Basketball is a series of runs. They're taking on the
Sydney Kings. It is back at Spark Arena where they
love it. They've got to turn around eventually, and they

(09:48):
are paying three dollars fifty to beat the Sydney Kings
who beat them a couple of weeks back. But you
think with this one it's got to turn. Eventually they're
at home, pucker falls finally falling into place. So there
it is, bit responsibly ra eighteen three dollars fifty. The
break is to beat the Kings.

Speaker 2 (10:04):
Brilliant. Liam Lawson's getting a whole lot of flack on well,
and I suppose this is just social media.

Speaker 1 (10:09):
Isn't it?

Speaker 2 (10:09):
But sujio parize is gone and it looks like Liam's inn.

Speaker 4 (10:14):
Well, I believe it is everything. I hear the closer
and closer I yet the more and more the noise
is coming. Because there's some very valid reasons why.

Speaker 7 (10:21):
They won't give it to Yuki Sonoda.

Speaker 4 (10:24):
They got rid of Peris because he's driving terribly. He's
cost them twenty million dollars in prize money this year
for Red Bull. He's finally exited stage left. Yuki Sonoda,
Liam Lawson. They are the two names. Yuki Sonoda has
got one year left on his contract with Honda Engines,
who power Red Bull, and then in twenty twenty six
he'll be moving to Aston Martin, who have the Honda

(10:46):
engine supply for that year. They've also taken a guy
called Adrian Newey from red Bull, who's the best designer
to ever walk the earth. So I'm looking at this here.
Are red Bull really going to give their number one
seat with Max step and to a guy who's leaving
in a year, going to the opposition and joining up
with someone who left Redball last year? There's no way

(11:09):
for me that just comes together and seyes, Liam, You've
got the job.

Speaker 2 (11:12):
But he's got haters, doesn't He is that because he's
been quite outspoken in the media and in the last
couple of months about you know, I want this, I
want that, and if you and I that's or that.

Speaker 4 (11:21):
I don't think you said if you and F that.
He did that one thing and there's a bit of
a blot. But the thing is he's a really really
competitive racer. I've watched him race for a long long time.
Elbows out. People say, you've got no respect for the
older races. No respecting the older racers is beating them
into the ground.

Speaker 8 (11:38):
Respect them.

Speaker 2 (11:39):
Formula one is by winning sports some mona help is
going to play a spe Classic.

Speaker 4 (11:43):
Yeah, super good for the i SP Classic. It's a
tidy little draw they've got going there gets under the
way first week of the of the new year. I'm
going to go and intend a session because it's always
a nice thing to do in a wide brimmed hat
and thoms. But she's a what I don't know about.
You might go to the high falutin things, being you know,
former TV sober, they'll probably take you there, But I just.

Speaker 8 (12:04):
Go to the gym.

Speaker 2 (12:05):
May I may have been invited to not me tell
you what. The only problem with the ASP Classic is
the sun absolutely blinds you. It's a killer and you
come home read as a as a lobster.

Speaker 4 (12:17):
I'll give you the being a new Cylander, you probably
should have worked out try your hat and sunscreen.

Speaker 2 (12:22):
But even if you're on, if you do that and
you're there long enough, I've never come away not burn,
no matter how hard I try. Anyway, there's a small.

Speaker 4 (12:29):
Problem, okay, two time Grand Slam champion that Simona Hallips.
She's been away fifteen months. He's back and she'd be
given a wild card. So that's super good news for
the draw.

Speaker 2 (12:38):
Brilliant Darcy. Look forward to seeing you tonight, Darcy Watergrave with
us to.

Speaker 4 (12:42):
Slap slap, you know you've seen it's.

Speaker 2 (12:44):
Not young twenty two minutes after forward News talks.

Speaker 1 (12:46):
He'd be on your smart speaker, on the iHeart app
and in your car on your drive home. It's gryand
Bridge on Heather Duper c Allen Drave with one New
Zealand let's get connected and news talk because they'd.

Speaker 2 (12:58):
Be twenty four after four. The type of beach up north,
there's been a couple of dog attacks and locals there
say bring a weapon to the beach. This summer, Ryan,
my partner got attacked by the exact same dogs that
were reported last week, huge bites. If it was a
child or an elderly person, they would be severely hurt.
Minimal follow up. Once this was reported, which happened two
to three months ago, many of the locals said it

(13:21):
had happened before. I find it very hard to believe
when the mayor says there have only been a couple
of incidents. Yeah, I find it hard to believe as well.
And I think that people just don't really care. Really
when your dog control person comes around and has a
cup of tea and says keep the gate clothes, people
just turn a blind eye and the next thing that's
happening all again, because you read about it in the

(13:42):
news all the time, don't you know. Twenty five minutes
after four. The French they love the finer things in life,
don't they. They love fashion, they love clothing, and they
love jewelry. And Nicholas Sarkozy has got himself a new bracelet.
The former French president. He was done for corruption and
influenced peer and he's now for the final year of

(14:02):
his sentence being given a electronic monitoring bracelet, so not
a nice one. He's gone to the highest appeals court
and they have confirmed his verdict. This is all to
do with he basically bribed a judge and was peddling
influence when he was being investigated for corruption charges over
his financing of his campaign. He's sixty nine years old,

(14:26):
still looks quite good, Nicholas Psarcosey. He's always had a
really good You'd notice two things about him. One is
a great tan all the time. Number two, full head
of hair and he's still got it. I looked at
the photo of him today and he's going on seventy.
I think looks fantastic with his new bracelet and everything. Anyway,
he's actually lucky to have avoided prison. So he was

(14:46):
meant to go to prison for three years. The first
two years were suspended and this bracelet will get him
off the third. So there you go. Twenty six minutes
after four, News Talk said be coming up after five
we're ans asking the question, if not Witanging, then we
here will Christopher lux And go Come February sixth next
year because he's not going to White Haanging. We're gonna

(15:06):
talk to the White Tangy National Trust chairman about how
he found out and where he reckons. The PM is
going to be hitting.

Speaker 6 (15:28):
Is that sweet?

Speaker 2 (15:29):
Like miss.

Speaker 1 (15:37):
Ryan Bridge cutting through the noise to get the facts.
It's Ryan Bridge on hither do for see allan drive
with one New Zealand. Let's get connected and news Talk
s B.

Speaker 2 (15:55):
Good afternoon New Zealand. Twenty five away from five year
on News Talk to said B. This is a statement
for the Prime Minister's office on why he's not attending
White Tangy this year and next year. I should say
the government will have senior reps there, but the Prime
Minister Christopher Luxen has chosen to take part in celebrations elsewhere.
He says, it has always been my intention to celebrate
White Tangy Day around the country with different ewe. I've

(16:17):
been in Witangi the last two years, et cetera, et cetera.
Details of where he's going, we don't know yet. They're
going to tell us closer to the time. Interestingly, we've
got Stephen Joyce on the program after five about the economy,
the fact we're in a recession, quite a bad one
by the way. In fact, this recession feels quite like
adildo to the face.

Speaker 1 (16:36):
It's the World Wires on news dog z edb Drive.

Speaker 2 (16:42):
The leader of Syria's victorious rebels, says he's left as
g Hardy passed behind. Aman al Sharra has done a
sit down interview with the BBC. He says the new
regime will respect all Syria's religious and ethnic groups, and
it will safeguard women's rights to education.

Speaker 1 (16:58):
We've had universities for more than eight years.

Speaker 9 (17:02):
I think the percentage of women in universities is more
than sixty percent.

Speaker 2 (17:06):
However, he hasn't ruled out harsh restrictions on alcohol.

Speaker 10 (17:10):
There are many things I just don't have the right
to talk about because they are legal issues.

Speaker 11 (17:16):
There will be a Syrian committee of legal experts to
write a constitution.

Speaker 1 (17:20):
They will decide.

Speaker 2 (17:22):
The Australian Foreign Minister, Penny Wong has had a bit
of a tip with her Israeli counterpart. Israeli media reporting
that the two foreign ministers have had a heated phone
called Pennieses. She simply articulated Australia's position.

Speaker 12 (17:32):
Australia, alongside the United Kingdom, Canada, New Zealand, Japan and
many other countries, have been calling for a CEA SPA,
for the release of hostages and for the provision of
aid into Gaza. That is the position where we have
been articulating, and that's the position that I reflected to
the Israeli Foreign Minister.

Speaker 2 (17:54):
I don't think she could ever sound heated, to be
honest with you. Also, finally, this afternoon.

Speaker 11 (17:59):
I always call it sometimes they so huge.

Speaker 2 (18:05):
Lawmakers in Missouri are planning to name several new roads
after US President elect Donald Trump. One state senator wants
to call a portion of a road west of Saint
Louis the President Donald J. Trump Highway. Another state senator
is planning to be a similar moniker on almost every
unnamed highway in the state. Maybe our government could do
something similar and renamed PenLink Luxlink or the Simeon Speedway

(18:29):
or insert your pun or joke here.

Speaker 1 (18:32):
I think international correspondence with ensit Eye insurance, peace of
mind for New Zealand business.

Speaker 2 (18:38):
I think I'll refrain from doing that and leave the
jokes to you, right Murray Olds is with US Australia correspondent. Murray,
Welcome to the show. Bushfire in Victoria. This is spreading
pretty fast.

Speaker 13 (18:49):
Oh sure is, Ryan, You're very good afternoon. I think
I'm right in saying it's the first major bushfire of
the summer over here, burning in the Grampians National Park,
glorious part of the world for those who know it,
at northwestern Melbourne a couple of hours away, started by
lightning strikes. Now early yesterday morning, so what we're talking
Eighteen hours ago authorities were saying seven o'clock on Wednesday morning,

(19:12):
five hundred hectares have been burned out. It's now over
five and a half thousand and seems to be growing
by the minute. It's out of control, hot, dry and
windy conditions and firefighters are heading there from other parts
of Victoria. Also talk of getting them from interstate. Nearly
fifty properties were destroyed in the same region February this year.
Locals hope it won't happen again, but it's not looking

(19:34):
that flash for the weekend ryan more hot, dry and
windy conditions forecast and borrow and across.

Speaker 14 (19:39):
Saturday and Sunday in the run up to Christmas.

Speaker 2 (19:41):
How's your dollar and the market looking after the fidness
great decision they've cast it.

Speaker 13 (19:47):
Suffice to say, I'm glad I'm not holidaying in the
United States this Christmas. Goodness me. It's the Australian dollars
at are two year low against the US currency sixty
two and a quarter US since right now. The last
time I remember paying any attention was about sixty six
cents so and that was only a week or so ago,
so it's lost an awful lot of value. Plus the

(20:08):
Australian share markers ben hammert as Well lost nearly two.

Speaker 14 (20:10):
Percent of lunchtime today.

Speaker 13 (20:12):
The big mining companies like BHP four to Skew, Rio
Tinto or got blasted.

Speaker 14 (20:17):
So to the big banks, The A and Z lost
nearly three percent, the.

Speaker 13 (20:20):
Commonwealth Bank in Westpac down two point three nab two
point one and why, as you say, the markets have
factored in just two cuts to the official US interest rates.
Next year they were tipping four So I mean, smarter
minds that mine might have to work this stuff out.

Speaker 14 (20:39):
But suffice to say there's a lot of unhappiness there.

Speaker 13 (20:41):
Only got a cut rates twice and not four times,
which is why the poor ol Australian South Pacific PESO
is getting smashed.

Speaker 2 (20:48):
Hey what about speaking of getting smashed, someone is in
trouble for mimicking or ripping off Raygun. What's going on?

Speaker 13 (20:57):
Well, Rachel ray Gun Gun. Of course, Australia's infamous or famous.
You know, I thought, look, Raygun made the Olympic team
and ninety nine point nine nine nine percent of us
will never do that, So four marks to her for
doing that.

Speaker 14 (21:12):
But boy, her voice, he's made a bit of a
mess of thing. Since then, there's a stand up comedian
in Sydney.

Speaker 13 (21:18):
I must say I'm not familiar with the work of
Steph Broadbridge, but she came out and said she was
going to produce ray Gun the Musical and do a
few moves at a stand up comedy club in Sydney.
Pull a few moves out of the Raygun handbook and
put this on stage with music. Well, Raygun's lawyers and
Reagun herself apparently not very happy. They sent a cease

(21:42):
and desisted letter to the owner of the nightclub. They
wanted to charge the owner ten thousand dollars for sanctioning
a musical that would copy some of her Olympic moves
in Paris. Reagun's lawyers said, listen, the proposed sketch would
infringe her intellectual property. The owners came, I said, well, listen,
we've sold fifty tickets. We'll give you a five minutured

(22:02):
bucks and you can bug her off. Steph Broadbridge, the comedian,
said that the lawyers were very worried about damaging ray
Gun's brand, and then Steph says, well, look, she doesn't
really need me to do that. So at this stage
it's lawyers at twenty paces. They want ten k. The
nightclub owners offered five hundred and poor old ray Guns

(22:23):
getting smashed on social media.

Speaker 2 (22:26):
As you say, I think she did enough to damage
to her own brand. Murray Murray, thank you for that.
Mariold's Australia correspondent just gone nineteen away from five.

Speaker 1 (22:33):
Newstok's he'd b Ryan Bridge.

Speaker 2 (22:35):
So just to bring you up to date with that
FED cut. So they've cut a quarter of a percent,
they've cut twenty five basis points. And this is despite
what you would have to say is quite stubborn inflation.
It has been coming down, but over the past few
months it's ticked back up a little bit and they're
a bit faster and looser over there than than Adrian
or would be here. Markets have taken a hit because

(22:56):
of this. The S and P five hundreds down three percent.
Why well, it's not because they're cutting, because that's obviously
a good thing for markets, but it's because they're forecasting,
as Murray alluded to fewer rate cuts in twenty twenty five,
so they're basically slowing the cutting cycle, and that means
that people get nervous about spending. They needn't though they're spending.

(23:17):
Their consumer has held up pretty well through the whole thing,
and unlike us, they've avoided recession too. Eighteen to five
politics with centrics credit check your customers and get payment
certainty just gone quarter to five newstalks they b Barry Sophet, Hey, Barry,
this recession is really bad.

Speaker 8 (23:34):
It's dreadful.

Speaker 11 (23:35):
Actually, as you pointed out a new introduction, Ryan, it's
the worst since nineteen ninety one. That's a hell of
a long time ago. And it was engineered, of course,
initially by the Reserve Bank and Adrian Or quite openly.
I think he's done a better job than even he would.

Speaker 2 (23:49):
Have ever thought, and he performed his KPIs well, that's right.

Speaker 11 (23:54):
But the thing is when you consider Adrian Or being
the Governor of the Reserve Bank, he was appointed against
all advice by Grant robertson and March last year, which
means his contract now runs until March twenty twenty eight,
so he's going to be around quite a long time.

Speaker 2 (24:08):
Which is hard because you've got the guy who took
it too far in one direction now over correcting the
other way totally. It's not a situation.

Speaker 11 (24:16):
Well, you know, on Tuesday, Treasury was increased its forecast
bond insurance program by they said would be sixteen percent.
On today they're saying they'll have to issue one hundred
and forty six billion bucks worth of bond, which is
essentially debt, in the next four years.

Speaker 14 (24:35):
Now.

Speaker 8 (24:35):
The cost of.

Speaker 11 (24:36):
That debt, which is incredible really it'll grow and this
is the annual cost. Year on year, they'll hit twelve
billion dollars in the year that Adrian or has step down.

Speaker 2 (24:49):
It's because we're issuing so much all at once in
the space of four years. The price comes comes down,
the yields go up, we pay more. Yeah, absolutely, let's go.
Luxeen's going to not going to White Tangy next year,
haven't we surprised?

Speaker 11 (25:03):
No, not at all. And I mean you saw the
reception that the government gets there, and you know, what's
the point of him being there? You'd have to ask
the question. He said, he talked to the White Tonguey
chair today but he got a pay obviously pully poor
reception from them because they expected him to be there.

(25:24):
But in the statement that he wasn't going to go,
he included, you will have seen the moves that have
made format over the past year, and that's one of
them is they've advanced eight treaty settlements. Now National has
always done much more on the treaty settlement front than
Labor ever did.

Speaker 2 (25:45):
Hey, we'll finish on Actually Bill English didn't go and
a number of Prime minist Telling Clark and John Key
both skipped the Loeham and I the t because that's
where it all kicks off. Is actually the day before anyway,
Peter has attacked to party, Mary and the House. This
is during the German debat yesterday.

Speaker 11 (26:04):
Well it was incredible really, I went back now to
listen today. The of course, the all sorts of allegations
are being fired at the manual Era Marai and that
was the home of one of the well the chief
executive was the candidate for the Malori party that became successful.
Now the results of investigations about data from the census

(26:26):
being used to shore up their vote. The results of
those investigations will be known next year. The allegations have
been vehemently denied by the Maori Party and its chairman
John Temmihady, who Winston Peters certainly attacked in parliament.

Speaker 15 (26:40):
And you know why he doesn't practice law. He got
convicted of committing forging and unvering and he was told
you'll get off, but don't ever apply for a license
to practice law. People don't know that you're here for
the first time. What Judith Collins knows and I know,
but you tell your leader when you declare war on
a pony callers general. First, gonna be repercussions. The standards

(27:02):
of this Parliament have been dramatically deteriorated. Pictausal to Barty Maray.
They come in there sometimes bare feet, no respect for
the institutions. I've been over Caesar hundred and told days,
but I've spent more than Parliament than all those party.

Speaker 16 (27:17):
Maray altered together.

Speaker 15 (27:18):
What a displace, lazy idle, don't even turn up for Parliament,
don't even secumenties, don't even do their jobs properly, and
they're getting away with them.

Speaker 8 (27:28):
Yeah.

Speaker 11 (27:28):
Well, the next speaker was interesting in the co leader
of the Mali parter party Rivalry White at Tea. This
is his reply this.

Speaker 8 (27:36):
House, Liza bit of first of chill.

Speaker 5 (27:39):
Okay, missus speaker.

Speaker 16 (27:40):
It's long been established and this debate that this is
what we could expect.

Speaker 14 (27:46):
It'd be good.

Speaker 5 (27:48):
Okay, are you listening on your fenure tooth?

Speaker 7 (27:56):
Is listening a.

Speaker 5 (27:59):
Terrrible lid right? My ching on stolen moldy lay this
year ain't been pretty toy two.

Speaker 16 (28:13):
Td T.

Speaker 5 (28:15):
Three headed goose.

Speaker 2 (28:17):
But we know the truth.

Speaker 5 (28:19):
My ching on stolen mody lay, I'll tell you what
he's not bad.

Speaker 8 (28:28):
Quite a catchy tune.

Speaker 11 (28:29):
And it went on longer.

Speaker 2 (28:31):
Greatly Agin babies. It's always a bit of a laugh,
isn't it. I actually thought the funniest speaker, not that
they were his jokes, because someone else would have written them,
but was Luxe. And I know he's looked at the
Green Party said I'd like to acknowledge the Greens and
then he looked at and he said, Juliane, no need
to get up, look on, I'll tell you lux.

Speaker 11 (28:52):
It was in good form. And he was at the
Gallery party last night. Oh yeah, Wellington, who was? He
stayed on quite long, you know, for a man, a
non drinker, he did pretty well there.

Speaker 2 (29:03):
Listen, did anyone embarrass themselves?

Speaker 11 (29:05):
No, nobody us embarrasses themselves at gallery parties other than
Tory Finale, which used to work for the Greens.

Speaker 2 (29:13):
Very sofa, thanks so much. It's nine away from five
news talks. There'd been Stephen Joyce on the economy after five.

Speaker 1 (29:19):
Putting the tough questions to the newspeakers, some mic asking breakfast.

Speaker 17 (29:23):
So as always, there have been winners and there have
been losers. In the last round of high performance sport
funding and the lead up to Lay's Olympics, one hundred
and sixty three million dollars is heading to thirty six
different sports high performance sport in New Zealand. Director Steve Choose
with us, tell me why you're not funding hockey.

Speaker 18 (29:37):
We are funding hockey, So to be clear, they're stall
a decent dunk and the end government money hind hockey.

Speaker 19 (29:42):
But it's a significant drop a week about.

Speaker 18 (29:44):
That, yeah, about that speaking, it's a difficult it's a
very difficult decision for hockey. But over a long period
of time we hadn't had a success that avestment is
seeking and we had to make some tough calls because
we had requests for about fifty seven minion and we
had best of forty just another forty one million to distribute.

Speaker 1 (29:58):
Hither dupe for Sea Ellen on the my asking Breakfast
back to morrow at six am with the Jaguar f
base on Newstalks.

Speaker 2 (30:05):
Dead b right. It has just gone six away from
five on News Talks dB coming up after five thirty.
The government is in noble intentions. They're trying to encourage
free speech at our universities, but in doing so telling
the universities what they can and can't say. Is that
not a little bit odd to you? We'll talk to
Penny Simmons about that after five point thirty. Also today

(30:26):
in the news, you would of course have seen that
our Defense Force has had a bit of problem, a
bit of a problem getting to Vanuatu and there was
an issue with one of the planes and there was
a light that went off and it was a safety issue,
so they had to divert to Numia and another plane
has had to come and pick them up. So that
is a problem, yes, But Penny Henade, who's the defense
spokesperson for the Labor Party, he's come out today and

(30:49):
criticized the Defense Force. Well, he's criticized the state of
our defense force, saying it's quote embarrassing. Now, it's one
thing I reckon to criticize, you know, when Luxon goes
away on his trips or just sind a doom trips
and the planes breakdown. It's one thing to criticize the planes.
Then when it's just a Prime ministerial delegation going to
Taiwan or whatever. But to criticize the Defense Force while

(31:14):
they are being deployed to a rescue situation where people
have died, I think is a little on the nose
from Penny Henade. Anyway, we asked the Penni Henade to
come on the program today. Not going to happen, which
is for him, I think a little embarrassing. Five to
five now before we get to the news at five,

(31:37):
just something I have to get off my chest. In
my neighborhood. It's to do with the street corners. In fact,
it's not just the street corners now, it's everywhere and
all of the parks. I don't know if you have
them in your neighborhood, but there are signs that have
popped up with new signs, so not just a street sign,
but a new sign that tells you how many minutes
you are from a certain location by bicycle and by foot,

(32:00):
so it'll say two minutes to this bridge or two
minutes to the street. Anyway, they're everywhere. Is this not
the dumbest waste of money you've ever heard of? We
have phones with GPS now we know where we are.
Why on Earth? And also if you're on a bike
and you're in a neighborhood, you don't know are you

(32:20):
going to are you really going to stop at every
street corner and like look up, you know, move your
helmet around, look up, and be like, oh, I need
to go two minutes that way. How much is this
costing us? Apparently I looked at some things millions of dollars.
It's called wayfinding and our local boards are funding it.
So whoever's in charge of that, good on you. You

(32:40):
might have missed the memo about Google Maps, and you
know a headphone in your ear that tells you where
to go these days. People three minutes away from five
News Talk seed me. The money is from from.

Speaker 1 (33:24):
The only drive show you can trust to ask the questions,
get the answers by the facts and give the analysis.
Ryan Bridge on Heather Duplicy Ellen Drive with One New
Zealand let's get connected News Talk ZB.

Speaker 2 (33:39):
Seven after five News Talk ZB. I just want to
know what Raylean founds so funny obviously not our GDP
numbers which are out today. And I can tell you
we fell by a whopping one percent in Q three.
Q two was revised down to a huge one point
one percent was point two. This officially makes this the
deepest recession bar lockdowns since nineteen ninety one. The Reserve

(34:01):
Bank Governor Adrian or well, we didn't ask him on
the program. He's declined our interview requests. This evening, Former
Finance Minister Stephen Joyce is with me live though good evening.

Speaker 7 (34:09):
Hi Ryan, how are you.

Speaker 2 (34:10):
I'm well, thank you. What's your take on today's numbers?

Speaker 7 (34:14):
Well, I think some people have got some questions to answer,
to be honest, including the Reserve Bank governess. I'm not
surprised you asked him on because what we're really seeing
once again is that he was both heavy footed on
the way up and heavy footed on the way down,
and I think there is some legitimate questions to be asked.

(34:35):
I can remember as quite recently him saying he's got
it all under control and that this is going to
be a soft landing. Well, quite clearly it wasn't. I
think we've none about it for some time. Now we
have the figures to confirm it.

Speaker 2 (34:45):
Yeah, we've all felt it. Do you think he should
what should the government remove him? Should he go?

Speaker 7 (34:51):
I mean, well, no, I don't think the government should
remove him, because I think once you start removing central
bank governors, that's a mistake. But I think he does
the country and explanation, but not just him. Frankly, I
think we had a couple of things with the previous government.
You know, they were very very similar on the fiscal side,

(35:13):
so we had a panicked overdoing of the response on
both fiscally and monetarily wise. And now we're reaping the
rewards of that, which aren't very pleasant. And it's been
a very, very tough year, and so there are lots
of questions to answer. I think we've had a six
or seven year period where people have said, oh, well,

(35:35):
the economy or just cope with whatever we throw at it,
and that includes the COVID response, and some of that
was necessary and some of it wasn't.

Speaker 11 (35:43):
And so now.

Speaker 7 (35:45):
The reality is we need a period of time where
we actually focus on growing this economy because quite clearly,
when we treated the way we did in the last
six or seven years, it gets really damaged. And that
that hurts every day news.

Speaker 2 (35:59):
We hammer the MasterCard, no doubt about it, but to
be fear to Adriana or and to the previous government.
You look at Australia, you know, they're growing at what
point eight percent this year. That's the slowest since the
early nineties for them as well outside of COVID.

Speaker 7 (36:15):
Yeah, but they're growing, which makes it it's a much
more pleasant experience and I think a lot of people
that have spent time in Australia recently. I haven't, but
I know a lot of people that have would say
it's a different vibe over there than it is in
this country. At the moment, it's quite stark. And we
can see that with the numbers moving to Australia. Is that,
you know, it's once again seen as quite a big

(36:36):
difference an opportunity for people than here. And you know
there's pretty people on the left that will seek to
blame the current government for that, but actually, you know,
this has been set up over the last six or
seven years.

Speaker 2 (36:51):
I think when we had the HAFU on Tuesday and
Nichola Willis came on the show, I was asking her
about whether she was going to go deeper and harder
with the cups in the state of the books. I mean,
we're borrowing, We're not even going to get to start
paying back any of that COVID debt until we get
to surplus, which is not going to be until the
twenty thirties. So why not cut deeper? Does today's numbers

(37:12):
kind of signal why she's got a real balancing act
on her hands here?

Speaker 14 (37:18):
Oh?

Speaker 7 (37:18):
She absolutely has a I think I've felt that it's
going to end up a bit like this ever since,
ever since she got the job, because the numbers. I
think the numbers were always looking at being harder to
balance than it was for us when we came in
after the GFC, and that was hard enough, frankly, And

(37:39):
I've I thought she's been in a difficult position ever
since she's taken on the job because it was always
going to be worse, and Treasury's projections forward are always
going to deteriorate at the stage of the cycle. At
some point they'll turn and they'll say, oh, well, things
will get better, because Treasury. Treasury has a habit of
drawing lines from where we are and saying, oh, it's

(37:59):
this going to get terrible. So I don't think it
necessarily is going to be as bad as they say,
but it's bad enough. And now that we're talking debt
to GDP ratios of getting towards the high forties percent,
the difficulty, Yeah, that's right. And the difficulty with that
is is you can make the argument that that's not
the end of the world, but we're only one big

(38:23):
sort of natural shock away from being another ten percent
on top of that, God forbid something else happens, but
it does tend to happen from time to time in
this country. So we do need to get it under control.
And that means the current government is probably going to
have to push harder than they expected to do some things.
It's not just cutting costs, so that's a significant part

(38:44):
of it. It's moving faster to grow the economy and
to encourage investment. And they've done quite a lot in
this first year, but actually they need to have a
break and come back and go harder again because we
need to, for example, don't just talk about attracting investment,
is take some steps to actually attract some investment. Now
they've done a bit in the R and A space,

(39:05):
but I'm talking about overseas investment as well, because the
infrastructure pipeline can't happen without overseas investment. We don't have
any do and getting a lot of investment in the
in the in the in the private sector businesses will
involve overseas investment as well, So we need to stop
talking about that and actually doing it. So there's a
bunch of things that they're going to have to move fast.

(39:26):
Wrong in the New Year, and it's difficult because you're
in a coalition and all the easy stuff has been
done the fact. But you know, everybody's agreed on the
things that have been done so far, that which seem
with the ferries, the ferries and so on, that is
the Sonali things.

Speaker 2 (39:38):
They all have to become.

Speaker 7 (39:39):
You on overseas investment.

Speaker 2 (39:40):
And a few handbreaks in the passenger seat too. Thank
you very much for coming on the program. Great to
have you on as always. Stephen Joyce, former Finance Minister.
Just gone thirteen minutes after five Brian Breed. The Prime
Minister has chosen not to go to White Tangy on
My Tangy Day. In a statement, Luxon has said he's
going to join New Zealand is celebrating the day in
other regions. The last time this happened was twenty seventeen,

(40:01):
when then Prime Minister Sir Bill English chose not to
attend Peta Tippani as chairman of the White Tangi National Trust.
Curta Pitza kider Ron, how did you find out about this?

Speaker 20 (40:13):
I found out when the Prime Minister called me earlier
this afternoon.

Speaker 2 (40:17):
What do you say?

Speaker 16 (40:19):
He said?

Speaker 20 (40:19):
Unfortunately, I won't be at Waitangi twenty twenty five, and
I will be elsewhere in the country because I've received
invitations from other EWE leaders and so I've committed myself
to going to those places.

Speaker 2 (40:35):
Fair enough and share the love.

Speaker 8 (40:36):
I guess.

Speaker 20 (40:39):
No, not from my perspectives. So being the chairman of
the Waitangi National Trust, which is a national trust, and
our job being Kaitiaki or guardians of not only the
physical environment of wait Tungy, the treaty grounds, but what
it represents in terms of our nightionhood. So where else
would you want to be or would you need to

(41:00):
be to remember and respect those who have fallen at Gettysburg?

Speaker 2 (41:06):
Well that yeah, Look, you make a good point there.
What about these claims from you know rwity Ytt says
the Prime Minister is quote drop nuts because he's not
going to white Haangy because he might get beaten up
or there might be you know, Willie Jackson has suggested
he could have got himself into some physical harm. Is
that true? Are you buying any of that?

Speaker 7 (41:27):
Oh?

Speaker 20 (41:27):
Look, any white to your day as a cauldron? Let alone,
what's going to happen next year? Give him the treaty
Principles Bill and everything else that's going on, it will
be potentially more volatile than it ever will has been.

Speaker 2 (41:40):
So can you understand him not wanting to be there
if it's going to get physical.

Speaker 20 (41:45):
Oh, look, I can totally understand that. But what we
at the Waiting National Trust do our utmost is to
ensure everybody's safety. And in fact, when we talk about
the Prime Minister, we are merely upholding our tikon or
our customs, which means that we will welcome all all
people of whatever political stripe and whatever opinion that includes

(42:09):
the Prime Minister. So we want to want people to
know that they are welcome and we will do our
utmost to ensure their safety. That might be difficult at times,
but we'll do our damn our dundest.

Speaker 2 (42:25):
All right, Peter, thank you very much to that. Peter
Tippani is the chairman of the White Tangi National Trusts.
Christopher Luxan not going to White Tangy next year and
we don't know where he's going yet, but he'll tell
us in good time. We're told coming out next air.
New Zealand wants your help finding your lost baggage. Just
gone eighteen after five news talks. They'd be just in
time for the holidays. Air New Zealand has found a

(42:45):
way to make finding lost luggage a little bit easier,
so they've come out today and said that travelers who
put an Apple ear tag on their bag can share
its location with the airline's customer service team, so if
the bag becomes lost, they'll be able to view both
where it was last scanned at the airport by the airlines,
but also its current location. Nicol Ravshanka is In New

(43:06):
Zealand's chief Digital officer. He's with me this evening. Nicol,
Welcome to the show.

Speaker 21 (43:11):
Hi, Ryan, thanks for having me.

Speaker 2 (43:13):
How many bags do you guys lose a day?

Speaker 21 (43:17):
I can tell you in twenty twenty four we mishandled
about six point six percent of bags we transported. So
we transport about three point two million bags a year
and twenty thousand of those were mishandled in twenty twenty four.

Speaker 2 (43:33):
All right, so quite a lot. How until now, how
have you not been able to use people's ear tags.
I mean it must be frustrating for them if they've
got an ear tag on their bag and they can
show it to the customer service rip and up until
now they've been able to do what nothing with that information.

Speaker 21 (43:51):
Well, if you recall a couple of years ago, we
had that Northern Hemisphere snowstorm and we had the Bag
of Mageddon in New Zealand. What we did do for
folk who had air tags in their suitcases was we
just borrow their phone and go looking for their bag.
Now we don't obviously have to do that. We have

(44:11):
a much more elegant solution, and that's thanks to sort
of the collaboration with Apple and the work they've done
to allow safe sharing of air tag locations with trusted
their parties like ourselves.

Speaker 2 (44:24):
Is that what the hold up is being security?

Speaker 21 (44:29):
I mean, it's sharing an air tag location when it's
attached to you know, your personal items is a quite
a it's quite a sophisticated solution to manage the privacy
associated with that. So, for example, when a customer shares
their air tag location with us, we get to keep

(44:52):
that only for a temporary time frame, so about seven
days or until the bag gets reunited with the customer.
So building that type of infrastructure was going was going
to be critical to do this safely.

Speaker 2 (45:06):
Do you recommend people get an ear tag then, because like,
how many of your customers do you reckon actually have them?

Speaker 19 (45:12):
Now?

Speaker 2 (45:13):
Do you get lots of requests for them for you know,
finding lost bags using your tags.

Speaker 21 (45:19):
It's getting more and more popular. And as the sort
of cost of an air tag drops, and the fact
that now the various civil aviation authorities around the world
are sort of okaying the use of Apple air tags,
we see becoming very popular. So this is a added

(45:40):
peace of mind, if you will, or for customers who
are for travelers who you know, want to invest in it.
So and we're we're making sure that, you know, we're
positioned to allow them to utilize it the way we've
got it set up now.

Speaker 2 (45:54):
Yeah, interesting, Nicole, thank you very much for your time
in running us through that. Nicole Revshenka, who's in New
Zealand's chief digit officer. I mean, ideally they wouldn't lose
your bag in the first place. Your bag wouldn't get
lost in the first place, but I guess if it
does then having an air tag. To be honest, I've
never used an ear tag in my entire life. I
don't even know what couldn't even tell you what they
look like, but I know that people who are terrible

(46:14):
with car keys and wallets find them invaluable. Twenty two
minutes after five news talks, they'd be hard.

Speaker 1 (46:21):
Questions, strong opinion, Ryan Bridge on Heather Duper see Allen Drive,
where's one New Zealand let's get connected? And news Talk
said b Well.

Speaker 2 (46:29):
We're coming up to Christmas, aren't we. So this afternoon,
I'd like to highlight all of the smart young climate
crusaders out there who are doing their bit to save
the planet. I'd like to thank you for your dedication
this year. The ones who showed courage by skipping school.
Am I talking about you? No, I'm not talking about you.
What about the ones who threw paint at the Mona

(46:50):
Lisa this year. No, I'm not talking about you either.
The ones who glued themselves to the pavement. No, the
ones who threw the talcum powder at the tennis courts
in Wimbledon. No, not those types either. I'm talking about
the smart activists who didn't skip school, the ones who
are finding actual solutions using technology and their brains. I've

(47:13):
read about three of them just in the past couple
of days, and it got me thinking. One of them
is called aquatic they're looking at how the ocean could
be used to capture and store carbon. Really interesting. Another
one's called real ice. They drill holes through the sea
ice in the Arctic, they pump out the seawater below
it and freeze it on the top on the surface.
And there was a young CEO by the name of

(47:34):
Alisha Fredrickson who I read about just yesterday. She's building
an onboard carbon capture device for cargo ships. Fascinating stuff.
Good on them for working hard and trying and innovating.
Not all of them will succeed, of course, but eventually
someone will. That's how we're humans evolve. That's how we've
stuck around. But only if you're smart enough to know how.

(47:57):
So to all the climate kids, the lesson here is
quite simple. Stay in school and to the teachers who
encourage their time off, and plenty of them did that
this year, particularly the unions who've had a lot to
say about it. Tomorrow's problems aren't solved by painting banners.
They're solved in classrooms. Ask not what the planet is

(48:18):
doing to your kids, but what your kids can do
for the planet. Ryan Bridge for a bit of inspiration
on the Thursday, afternoon, twenty seven minutes after five on
News Talks THEIDB coming up after five free speech at
universities apparently under threat.

Speaker 1 (48:34):
Digging deeper into the day's headlines, it's Ryan Bridge on
heatherd for ce Ellan Drive with one New Zealand let's
get connected, and news Talk said, be.

Speaker 2 (48:55):
God you mean twenty five minutes away from six on
Newstalk SAIDB sailing towards Christmas, we are. It's kind of
got that awkward couple of days next week, doesn't it.
If you're working, some of you will have to work.
I don't, thankfully, but some of you will have to work.
It's kind of an awkward time. There's a word for
the period between does it even know the word for
the period between Christmas?

Speaker 16 (49:14):
And No?

Speaker 2 (49:15):
We won't say that word. Okay, the Lord is shaking
her head. Oh no, I think I probably shouldn't say.

Speaker 1 (49:21):
The word, Ran Bridge.

Speaker 2 (49:23):
I won't say the word right, And you know the
thing is, we're about to talk about free speech, so
I'm kind of undermining myself here. However, the government wants
to change the law to strengthen freedom of speech at universities.
Proposed changes will mean that universities won't be allowed to
adopt positions on issues that don't directly relate to their
core functions, and they will each be required to provide

(49:45):
a freedom of speech statement and report annually on their
commitments the Tertiary Education and Skills Misters Penny Simmons, Minister, Hello, Hello,
how are you good? Thank you? Do you think university
at the moment are university's resi freedom of speech?

Speaker 22 (50:03):
Well, they have an obligation for academic freedom, to promote
academic freedom for their staff and students, and freedom of
speech is really closely linked to that, and so we
think perhaps that they have been little risk adverse over
the last few years in terms of canceling some things

(50:25):
that might be considered controversial. And so this is just
making it really clear. It will be a change of legislation,
a change of Education and Training Act twenty twenty to
ensure that. One they've got policy and procedures around ensuring
that they not only allow but promote freedom of speech,

(50:48):
but also then some requirements about having to record complaints
and be transparent about any complaints they might take.

Speaker 2 (50:57):
Without what can you give an example, what is an
example of an example where they have restricted freedom of speech.

Speaker 22 (51:05):
Look, I think there's been a few over the last
few years. Are probably the dom Brash one was an
obvious one from Massy.

Speaker 13 (51:14):
See.

Speaker 2 (51:14):
The thing is with these ones, Penny, that they always
say it's safety. It's a risk to people's safety if
we invite these people on. So are you asking them
to override their safety concerns in the name of freedom
of speech.

Speaker 22 (51:29):
Look, I think health and safety has perhaps been used
a little bit too liberally as a reason why not
to have people. And we're certainly not overriding the ability
for a university to be able to charge if there
are entities that are coming that may require additional security

(51:52):
or additional costs to the university, and would certainly expect
that they should be able to be charged.

Speaker 2 (51:58):
Because the thing is the I mean, let's face it,
they're all largely a bunch of lefties, and they don't
like often don't like hearing controversial opinions, and so they
just say no and then they hide behind the safety thing.
Is that what you think is happening?

Speaker 22 (52:11):
Well, Look, the trouble is it impacts on the academic
freedom for staff as well, because once you start canceling
that anything in terms of freedom of speech, diverse opinions,
and the ability to robustly debate. Then you're putting real
pressure on academic freedom in terms of being able to

(52:33):
express an opinion that might be counter to what the
majority have. And so we've seen a number of surveys
done on staff and students in universities recently where they
say they don't feel safe to come up with a
alternative view opinion. Yes, and that's not good.

Speaker 2 (52:54):
I think most people will say this looks reasonable. One
thing that I don't think is reasonable, as you're going
to stop universities from adopting positions on issues that don't
directly relate to their care role or function. Is that
not in trying to encourage freedom of speech, you're almost
stifling theirs.

Speaker 8 (53:12):
Why do that?

Speaker 22 (53:13):
Well, well, no, again, quite the opposite, Ryan, because once
a university takes a stance on a matter that it
isn't aligned with the core business. If you're an agricultural university,
then of course you should have opinions on different things
to do with agriculture or engineering or something. But if
you take an opinion, if a university takes a stance

(53:36):
rather than being neutral on things that are nothing to
do with them. Then all of a sudden, you prevent
staff with a differing opinion from men Garba to say anything.

Speaker 2 (53:47):
What what are you talking about? Because universities teach all
sorts of things that they could have an opinion that
theoretically on anything.

Speaker 22 (53:55):
Well, you would hope that some of the worldwide geopolitical things,
it might be sensible for them to take a stance
because well they might well have students and wide afar
now that come from either side of the debate, and

(54:17):
so I think that then, and they might have staff.
So all of a sudden, down.

Speaker 2 (54:23):
But minister, if you were a university and you're you know,
you have an international relations class, you're saying the university
cannot have a position on the Garza war.

Speaker 22 (54:33):
We're saying that individual staff might want to have a
position on it, but the university as a whole shouldn't
because then that shuts down any of the individual staff
or students. So we not want to have a counter opinion.

Speaker 2 (54:49):
Here's a shorter list. What can a university have an
opinion on them?

Speaker 22 (54:54):
Look, we're not going to dictate that. If they can
justify that they should have an opinion on then that's
up to them. And again it's not.

Speaker 2 (55:03):
If you're teaching international relations and you're not allowed to
have an opinion on the war in Gaza, then I
don't understand what is your core business? Do you mean?
Basically you can have an opinion on the running of
a university and that's about it.

Speaker 21 (55:20):
No.

Speaker 22 (55:21):
No, the staff that are teaching on that might well
have as part of their academic freedom and opinion on
some geopolitical situation, but the university as a whole should not.

Speaker 2 (55:36):
Penny, thank you very much for your time. That's Penny Simmons,
Tertiary Education and Skills Minister, nineteen away from.

Speaker 1 (55:41):
Six The Huddle with New Zealand Southerby's International Realty, local
and global exposure like no other The HUDDLD tonight.

Speaker 2 (55:48):
Jordan Williams Taxpayers Union, Good evening and Ryan Stuart Nash,
a former Labour Cabinet Minister. Good evening to you.

Speaker 14 (55:55):
Ryan.

Speaker 16 (55:55):
How are you, Jordan? Good to see you today.

Speaker 2 (55:57):
Were you following that?

Speaker 7 (55:58):
Stuart?

Speaker 2 (55:59):
Was that clear? Was what exactly you can and can't
say at UNI?

Speaker 7 (56:02):
Now?

Speaker 16 (56:03):
Well, I think you ave for lunch mate. You don't
need dinner anymore because you're full. I mean, Penny is example,
if a minister isn't quite over her portfolio.

Speaker 14 (56:11):
But having said that, mate, I tend to agree.

Speaker 16 (56:13):
You know, you've got to allow these academic experts the
right to say anything and everything, because universities are supposed
to be the critic and the conscience of our society.
And if you stifle academics from saying whatever they believe,
no matter how controversial, then I don't think that's that's
particularly sound.

Speaker 2 (56:30):
Yeah, I agree, Jordan, you obviously will have that opinion.

Speaker 14 (56:32):
Yeah.

Speaker 23 (56:33):
I mean this is a big one for the Free
Speech Union, and I mean Penny hardly did a very
good job of selling the policy to achieve. The difference
is that the universe is like to say, you know, oh,
academic freedom, we should be able to take whatever position
we like, and they ignore the fact no academic freedom
is a privilege for the academics. The issue is is

(56:54):
that the universities are taking a sort of groupthink approach.
For example, you know, Massy taking you are to treaty lead.
If you do not agree with us on what it means,
then you know you're out. And the thing is is
the independent sort of surveys of academics shows there's a problem,
and it's you know that it's a surprising number of

(57:14):
academics that say I'm not free to speak my mind.
That is deeply concerning and that is what this is
to address.

Speaker 2 (57:20):
Yeah. Absolutely, the biggest concern from today is obviously the
state of the GDP, which is absolutely worse than any
economist was predicting last week. And we've downgraded quarter two
as well. I want your reactions to that.

Speaker 1 (57:35):
Next the huddle with New Zealand Southeby's International Realty Elevated
Marketing of your Home.

Speaker 2 (57:43):
Fourteen to six. On news talks there'd be Jordan Williams,
Taxpayers Union, Stuart Nash Form and Labor Cabinet Minister on
the huddle tonight. So we've had the GDP number. It's
confirmed for quarter three we were down a percent. For
quarter two, they've revised from down point two to down
one point one, which means we're in the deepest recession
outside of lockdowns since nineteen ninety one. Stuart, we can

(58:06):
blame you and adri and all for that.

Speaker 16 (58:08):
I don't think you can do that at all. Right,
you know, the genial consensus amongst my business friends is
actually Nikola was out of her depth. You know, you
had a finance minister come and the first thing she
did is borrow fourteen billion dollars and give everyone a
tax cut. That every one of my networks, from the
far right age Jordan to the far left, said now

(58:28):
is not the time. Now's the time to be spending
money on you know, cops, nurses, schools, hospitals, et cetera.
You can't borrow fourteen billion for tax cuts and expect
the economy to be in good shape. The other thing
I would say is, you know, if Nikola had come
out and said, look, this is my vision for New Zealand,
this is where I see us being in twenty thirty,

(58:49):
and this is how we're going to get there. But
in order to get there, this is what I need
to do, then Keywis might go, Okay, I come to
see where she's where she's going, where she's heading, and
I buy into this vision.

Speaker 2 (59:00):
But you do you know, but she was handed I mean,
the death alone as a proportion of GDP had doubled
since pre COVID. I mean, do you not accept that
she was given some pretty shoddy books.

Speaker 16 (59:14):
I look, COVID changed the nature of the box of
that there's no doubt.

Speaker 23 (59:18):
And she's locked. She's locked that in. I mean, she's
locked in that post COVID spending.

Speaker 8 (59:23):
That's the real lie. And you can it's a great thing.

Speaker 16 (59:26):
She's she's spending more.

Speaker 8 (59:28):
Yeah, and then.

Speaker 16 (59:31):
There's actually borrowed fourteen billion for text cuts.

Speaker 8 (59:35):
I mean as a percentage of the economy that the
tax is still going up. You know, we're not. This
is not a tax assue. But come on, I mean,
it's it's a great but what she could.

Speaker 16 (59:44):
Have done, what she could have done is what what
you know, Michael Cullen did, which most financemanss do when
they come from a new government and.

Speaker 14 (59:50):
Say, oh my god, I've just opened the box. It's
a lot worse than I thought.

Speaker 16 (59:53):
Level were still committed to text cuts, but you know
what I mean, but we need to get the economy
in shape. We're still committed to text cuts, but we're language.

Speaker 2 (01:00:00):
It's not about taxas. This is an overspending and Jordan,
you're right in saying that she is continuing basically the
middle of the road. You know, I'm going to get
re elected as a centrist government next election because she's
not cutting as hard and fast as she could, but
she argued cut, I.

Speaker 8 (01:00:17):
Mean it is, it's the only cut is that she's
not growing it as fast.

Speaker 2 (01:00:22):
Well, yeah, that is not a cut.

Speaker 23 (01:00:24):
And even on I know that labor love the sort
of you know this, you know it's a tax cut
for landlords, which was just returning interest deductibility, just just
absolutely bond as the way that the rest of the
whole world does it. You know, let's step back as
a proportioning the economy, the tax take is still going up.
And Nikola Willis is relying, this was on the budget

(01:00:45):
figures when we were going to get back into surplus
before twenty thirty. We're on getting back in the surplus,
of course, because they're you know, this funny accounting trick
removing the a SEC deficit was to use the very
tools that Grant Robinson used, a LAH fiscal drag.

Speaker 2 (01:00:59):
Yeah, taxes going up on working his arm books, which
is exactly why people wanted the tax cunt because the
bracket creep things.

Speaker 8 (01:01:06):
Had only scratch the surface, which is the point to it.

Speaker 2 (01:01:11):
Your argument is actually you shouldn't have tax cunts. You
should have spent that money on public services. I mean,
what will we getting them from those public services. That's
the problem people have.

Speaker 16 (01:01:22):
Well, we know at the moment, you know, Mark Mitchell
is trying hard to get five hundred more cops. Completely
agree with that. Eric Is Stanford is spending more money
on more teachers. Absolutely buy into that. Shane Retti is
struggling at the moment because the massive deficits in the
health system that all three of those needed overhauling, and
all three minutes are working hard to do that, but
they just haven't got the money to implement the level
of services.

Speaker 8 (01:01:42):
That Kiwis expect.

Speaker 16 (01:01:43):
But the thing I would says, back to what I
would say is I just do not understand what the
vision of this government is for our economy. And I
just think Nicholas out of her debt, and that is
the general consensus of the vast majority of my business friends.
We've got to finance it. Doesn't I don't quite get it.

Speaker 8 (01:02:01):
My donors are coming to the same conclusion.

Speaker 2 (01:02:02):
You know, I think that the.

Speaker 23 (01:02:06):
Talking around town, it's quite concerning, and that what the
big fearful national should be as if they burned through
that credibility of we're far better on the on the economy.

Speaker 2 (01:02:15):
Yeah, but what do you wanted to do. If she
went and cut like you, like you would have her
cut Jordan, then she'd be out on our ear six
and you've got and the media would be having a
field day. If you spend like Stuart wants to spend.
I mean, she's going in the middle of the road.
This is what a good politician should be doing.

Speaker 23 (01:02:33):
You're right, the media would have a field date. They're
having a field like labors in the approxy. I mean
I can never tell with the student's post politics or
where he's coming back because he's sticking to those labor
talking points.

Speaker 8 (01:02:43):
She's going to be hambered for for austerity anyway. She
should at least do the job so we get out
the other side.

Speaker 19 (01:02:51):
You can.

Speaker 2 (01:02:51):
We're going to move on.

Speaker 8 (01:02:52):
Compare it to Ruth.

Speaker 23 (01:02:53):
You know, two years before the election and ninety one,
the last time the economy was this bad by the
end of that term, growth and surplus and inflation under
two percent when Jim Bulja sacked there or on this part,
there's no way Nickler gets there.

Speaker 2 (01:03:09):
And let's talk about inviting friends over it well, not
inviting friends over at Christmas time. So do you have
this Stuart, where people friends will come over to your house. Actually,
I saw in the newspaper you've told everyone where you
live a smart thing to do.

Speaker 14 (01:03:23):
Come around.

Speaker 8 (01:03:24):
Well, look, i'll see you next week's Jane.

Speaker 16 (01:03:28):
Yeah, yeah, you're more than welcome. The fridge is full
of beer. We love I love people.

Speaker 8 (01:03:32):
I call them to Amazon instead usually.

Speaker 16 (01:03:35):
Come down to mind. The thing is is that you know,
it's always nice to have at least a half an
hour call so you can put on the top and
some decent shorts. But but you know, Christmas is about relaxing,
having a couple of beers with mates and just enjoying themselves.

Speaker 8 (01:03:47):
So you make it all summerd you're at home, so
what well.

Speaker 16 (01:03:52):
Who doesn't. But there's always a cold beer in the
French from you, Jordan, Right, there's two for you.

Speaker 18 (01:04:00):
Right.

Speaker 23 (01:04:03):
The great thing where we are for summer is it's
boat excess only, so you can really you know, it's
the best.

Speaker 8 (01:04:11):
It's the best of both because you know they're great.
You know I will come and pick you up and
oh yeah there's something wrong with the boat.

Speaker 16 (01:04:17):
Not today, you hide away. I welcome him. Come all right,
thanks guys, have a good one, mate.

Speaker 2 (01:04:29):
Jordan Williams. Taxpayers in the Stuart Nash, former Lady Cabinet
minister whose door apparently always open. Seven to six.

Speaker 1 (01:04:36):
Red or Blue, Trump or Harris? Who will win the
battleground states? The latest on the US election. It's Heather
Duplicy Alan Drive with One New Zealand let's get connected.

Speaker 2 (01:04:49):
News Talks b It is five away from six coming
up after the news six o'clock. When we were talking,
well talk a couple of things. MasterCard for a start,
you know, we had the Commerce Commission report come out
this week and they have put out a proposal to
cap some of the credit card fees that we pay.
Master Card has come up with a statement and it's

(01:05:09):
sort of surprising what skin they've got in the game.
It's not as much as you might think. When I
think when I swipe my card and I go, oh
those holes, I always think master Card and Visa are
making them, you know, must be creaming at making the
most of the profit there. But there's also the retailers
taking a cup. There's also the banks and actually we'll
find out what sheer those master Cards and Visas of

(01:05:31):
the worlds are actually making. That's coming up. Also Liam
Dan on our GDP numbers and Jamie McKay for the
last time this year on drive loads of feedback about
Stuart Nash and Jordan Williams. I thought that was quite
a fun chat. I personally, I don't like people coming
over to my house, even if you know I invite them.

Speaker 6 (01:05:54):
It's like, is it too much of a pain to
track down a top and some nice shorts?

Speaker 13 (01:05:58):
Right?

Speaker 2 (01:05:59):
He's not wrong though, is he? When it's hot you
you don't tend to have a lot on inside?

Speaker 6 (01:06:05):
Is it just me or quite normal to walk around
the house out the show?

Speaker 2 (01:06:08):
I think it's quite normal, quite normal. Actually, I've been
having a lot of cold showers lately. Have you been
doing that?

Speaker 6 (01:06:13):
And no, no's lost.

Speaker 2 (01:06:15):
A cold shower before bed and you'll sleep. Honestly, it's
improved my sleep.

Speaker 6 (01:06:18):
I think if you're showing up unannounced, then the person
doesn't ever show it on. I mean that's on you,
isn't it. I mean you're the one who showed up
n announced.

Speaker 2 (01:06:23):
Surely, Oh exactly, it's your fault, you know if you
cop an ie forall that's on you. News Talk simply.

Speaker 1 (01:06:34):
Hell keeping track of where the money is flowing. For
the Business Hour with Ryan Bridge and my HR on
news Talks.

Speaker 2 (01:06:49):
IV Good Evening It a six after Sex will breakdown
today's GDP numbers with Liam Dan in just a few moments.
Right now, MasterCard is pushing back at the Commerce Commission's
plans to put a cap on some credit card fees.
Interchange fees are one part of a bunch of charges
that the retailers pay, and the Commerce Commission wants to
reduce those fees by about two hundred and eighty million

(01:07:10):
dollars a year by introducing a cap on them. But
the Commerce Commission says it can't guarantee that the full
two hundred and eighty mil will actually be passed on
to consumers. Ruth Theyear is master CAD's country manager. Ruth. Hello,
Hi Ryan, how are you doing good? Thank you, thanks
for coming on the program. So these charges, the interchange fee,
do you make a profit off the interchange fee?

Speaker 10 (01:07:32):
Nope, So MasterCard doesn't make any money from interchange. Interchange
is a really important balancing mechanism for the payments this
ecosystem that allows continued investment in experience, in technology, and
in safety and security.

Speaker 2 (01:07:48):
So the interchange fee is a charge that you use
for R and D.

Speaker 10 (01:07:52):
Basically, so it's what our partners use for that. So
it's paid by the merchants bank, to the card issuers,
to the cardholder's bank, and so it balances that the
cost of issuing the payment credential with the benefit that
the merchant receives from accepting that payment.

Speaker 2 (01:08:15):
So who profits off the interchange fee?

Speaker 10 (01:08:19):
So the person who issues the card or issues the
credential gets that money, and that's.

Speaker 24 (01:08:26):
In a great experience.

Speaker 2 (01:08:28):
Is that's you right, Master Card?

Speaker 10 (01:08:31):
No, so we don't issue any cards. That would be
your bank or that would be a fintech so or
that would be a you know, a credit card company,
and those would be the people who receive that revenue
and then they would invest that in a card proposition.

Speaker 2 (01:08:47):
So why have you got a problem with the interchange
fees being kept by the It is suggested by the ComCom.

Speaker 10 (01:08:53):
Because we think it's a really important mechanism in a
market to allow for continued innovation. Canntinued investment in safety
and security, continued investment in experience, And what the Commerce
Commission is suggesting is hollowing that out, and that will
make the business case for investing in new products and

(01:09:14):
services much harder. It will make the business case for
investing in new payment types like open banking much harder.
So we're really clear that there's these unintended consequences of
what's being proposed.

Speaker 2 (01:09:26):
How does MasterCard make money off transactions? You know, when
I go to the deary and swipe my card, where
are you making your cut?

Speaker 10 (01:09:36):
Yeah, so we make money as the transaction is processed
by our network, and that's separate to interchange fees.

Speaker 2 (01:09:43):
It's a surcharge.

Speaker 10 (01:09:44):
Ryan, So surcharge is what a what a merchant would
would charge the person making the payment for that payment,
and some of that would be used to cover interchange
and scheme fees and the fees from the bank of
the merchant.

Speaker 2 (01:10:03):
Right, So your fee that you tack on, what's your fee?
If you know, if I went and bought a can
of coke or something, what does master Card get.

Speaker 10 (01:10:11):
Yeah, it's a really small proportion of the overall cost
for a merchant. So it would be you know, a
fraction of what that interchange component would be or the
fee that the the retailer's bank would be charging.

Speaker 2 (01:10:27):
So it's a fraction of the interchange fee. So you
do get some of the interchange fee.

Speaker 10 (01:10:32):
No, sorry, I just meant proportionally, so we don't get
Do you know what is the fraction? Do you know
it would vary based on based on the transaction as
a percentage A small percentage, one, two percent, zero point three,
under ten percent, under ten percent.

Speaker 2 (01:10:53):
That's that's quite a lot. I mean that that that
range is quite big. Do you mean up to ten
percent of the overall fee that are charged or do
you mean up to ten percent of the cost of
the good?

Speaker 9 (01:11:04):
No?

Speaker 10 (01:11:05):
No, no, no sorry, no, not of the total good,
of the total overall costs that might be paid, So
very small proportion of the overall costs.

Speaker 2 (01:11:19):
Right, So up to ten percent of the fees that
we pay for using cards at shops for the convenience.

Speaker 1 (01:11:27):
Yeah, okay.

Speaker 2 (01:11:29):
So the Commerce Commission seems kind of hell bent on
doing this, making this change, and they have kept it
once before. What do you think the effect will be?
Will we actually get cheaper? Will it make transactions cheaper
for us as consumers?

Speaker 10 (01:11:45):
We haven't seen that play out in any other market.
And what the Commerce Commission said was that by capping
inter change fees so excuse me, surcharges would come down.
And they capped interchange or they brought interchange down to
years ago, and I think you speak to any key
we and they would say that surcharging has not gone down.

(01:12:06):
So it's really clear that surcharging won't come down as
a result of capping interchange. So what I think we
can see, what you can expect to see as a
consumer or as a cardholder, is that you'll be surcharged
more often, and that by taking away this amount of interchange,

(01:12:28):
which as we've said, is a balancing mechanism between the
two sides of the ecosystem, consumers will pay for that
in other ways because that investment will still need.

Speaker 24 (01:12:37):
To be made.

Speaker 2 (01:12:38):
Seems like we always pay for everything, doesn't that. Ruth,
thank you very much for that. That's Ruth River, Mastercard's
country manager, the Commerce Commission for just joining us. They
wanted to put a cap on some parts of the
credit card vies that we're charged basically the gisters. We're
not according to the industry, we're not actually going to
save anything in terms of fees and surcharges. They'll just

(01:13:00):
whack up. You push this fee down, they'll whack another
one up. I mean, are we ever going to get
around this? Problem, don't know, tell me what you think.
Nineteen ninety two. It is thirteen minutes after six. We're
going to talk to Liam Dan next. He's your man
with the inside word on what is going on with
our GDP and why the numbers, particularly for quarter two
so drastically different to what was originally put out by

(01:13:24):
stats n Z.

Speaker 1 (01:13:26):
Analysis from the experts bringing you everything you need to
know on the US selection. It's The Business Hour with
Heather Duplicy, Allen and my HR The HR Solution for
Busy SMEs, News Talks EDB crunching the numbers and getting
the results. It's Ryan Bridge with the Business Hour thanks
to my HR The HR Solution for Busy SMS on

(01:13:50):
News talks EDB.

Speaker 2 (01:13:51):
It is sixteen after six News Talks EDB. Lots of
feedback on MasterCard. We just spoke to them about fees
that the Commerce Commissioner is trying to crack down on
and we're you heard from MasterCard after our interview they
have got in touch to say, actually we don't make
I think the number she gave us up to ten
percent on a transaction and they wanted to say, hey,
your example, you gave us a can of coke at

(01:14:13):
the dairy. They say the proportion of a merchant acceptance
cost that translates on average to about zero point two
percent of a typical transaction. I think that is gobbled
the goook speak for them trying to say that they
take a zero point two percent cut on fees on
surcharges whenever you swipe your MasterCard to get a Coca

(01:14:35):
cola or whatever at the dairy. Lots of feedback on this, Ryan.
We're a national F and B group and immediately reduced
our surcharge from two percent to one percent when the
laws changed last year, which is interesting because that was
a commerce commission move. Anyone who didn't pass on the
savings to their customers says this text is simply taking advantage.
Seventeen after six Bryan Bridge, and we're going to our

(01:15:01):
business man, Liam Dan. Liam, good to have you on
this show, GDP. This is a big story today. We've
been talking about it all afternoon, as I'm sure you've
been writing about it all day. So one percent down
for quarter three and then we had a revised quarter
two number one point one.

Speaker 24 (01:15:21):
Yeah, so it's actually a weird one. You know, the
more you look at it, it looked, you know, the
initial reaction was holy heck, this is really ugly, and
it was. But then you look at the revisions and
so it turns out that in twenty twenty three we
never had a recession according to these numbers. And then
actually the economy, according to the economists some reading is

(01:15:43):
slightly bigger than across the last two years, has grown
slightly more than originally forecast and then was forecast save
and in the June numbers. So it is like it's
a very gloomy thing to happen right before Christmas. We
had that awful half year economic update from the government
and treasury as well. But I just think it's important

(01:16:05):
at this point in time to put it in context
and go, hey, this has already happened, so this is historic.
It really just tells us that how bad it felt
in the middle of the year, you know, and lines
up a bit more with the anecdotes and about about
how bad things were. But it doesn't kind of change
reality in our world, and the economists are still pretty optimistic.

Speaker 16 (01:16:28):
That this was the worst of it.

Speaker 24 (01:16:30):
So I don't know, I might be clutching et straws
and I'm trying to be a bit optimistic as we
hit into Christmas.

Speaker 2 (01:16:35):
Well, we certainly need it. I mean the number was
quite shocking and and the revised number, you know, equally shocking.
We had Stephen Joyce on earlier he reckons and he
said that adrianaw has a lot of questions to answer
now he's overcooked the correction. Do you agree with that?

Speaker 24 (01:16:51):
Well, I mean, I guess that is something that you've
got to ask. I mean that they we were all
screaming for inflation to be taken out. I've got to say,
including Stephen Joyce, everyone wanted to see them really hammer inflation,
and so they've they've gone really hard. Look it may
it's certainly going to raise calls for some economists are

(01:17:11):
saying we need to go seventy five basis points for
the next cut, get it down faster. Yeah, I mean,
I guess there's an argument there. I do think it
is important to look at what's happened to these numbers
and what's happening at stats n Z. It is a
really odd one. You know, they've done a lot of seat,
they've had to rework all their seasonal adjustments, and you've
now got economists saying that the next quarter might look

(01:17:34):
really strong, stronger than it really matches up with their
real world experience. So I'd put a caveat around the
GDP numbers for a little while. In fact, they always
seem to be revised, and I try to put caveats
around it, and I have to write the story with
the horrible headline when it all breaks, of course, But yeah,
I think I think we've got to be a bit careful.
I use the analogy of if you survive a hurricane

(01:17:57):
and you thought you're surviving a category forhurricane and you
get through it, and then someone tells you you've just
survived a Category five hurricane, you know you shouldn't really
feel any worse. You should possibly feel a little better
that you've got through it. So, I mean, everyone was
pretty glum in the middle of the year, and maybe
the numbers didn't seem that bad, and now we know

(01:18:17):
it was that bad. So look, you know, fair play
to guys like Joyce and a few other commentators who
were saying that this is the worse since ninety one.
It does appear to be the worse since ninety one,
But I think, you know, there is some cause for
optimism inflation under control, some growth coming our way. I
know there's a whole bigger story about actually reinventing their economy,

(01:18:38):
transforming it, getting some productivity going, and finding some real growth.
But regardless of that, it does look like twenty twenty
five is going to look better, So that story hasn't changed.

Speaker 2 (01:18:48):
Do we not rely on these on GDP figures going forward? Then?

Speaker 19 (01:18:53):
Like?

Speaker 2 (01:18:53):
How did they get the quarter two numbers so wrong?
And the seasonally adjusted thing that you're talking about, what's
going on there?

Speaker 24 (01:19:00):
Well, from what I can see, and I'm doing a
lot of reading, it's that there was a lot of
COVID really throughout all the things that they revised. They
do a revision of methodology in the third Every third
quarter there's a big revision of methodology, and that's good practice.
You want to make sure it all it's all good.
But they've found that there's seasonal there's seasonal adjustments that

(01:19:20):
they do to try and keep it all and tick
we're out, and they've had to redo those quite substantially.
It's kind of the case that they've kind of like
they know how much the economy has grown, but how
they are proportionate across each quarter has been out of whack,
and so now you have the data for that middle

(01:19:42):
of the year looking more like what people were seeing,
and things like the production of manufacturing statistics and some
of that more minuted data looked really grim and then
so now these GDP numbers match that, So they're sort
of starting to get it back in line, I hope,
But it does remind that some of these things. First
of all, GDP is a very tough thing to measure.

(01:20:04):
It's every single bit of action that happens in the economy.
Everything we make, everything we do, everything we spend, So
that's always tough, and it's been particularly tough in the
past two or three years. One would hope that we
can rely on them for the trend, but I would
always say there's a caveat on that initial number when
it comes out, and be a bit wary of you

(01:20:27):
worrying too much about technical recessions. We know that we're
in a you know, we know when we're in a downturn.
We know when things are going bad, and look look
at measures like the jobs lost and the business is
closing down, all that sort of stuff. If you want
to see real hard data and what's happening in the
real world.

Speaker 2 (01:20:44):
Just walk down the street in main Street. You can
see it too, Liam, can't you? Thank you very much
for that run down lamb down New Zellen Herald Business
Editor at Large. It is twenty three up to six.

Speaker 1 (01:20:55):
The Rural Report on hither Doer see Allen Drive.

Speaker 2 (01:21:00):
It is twenty five after sixties Talk zeb B. It
is time to wrap the year in Rural New Zealand
with Jamie McKay, host of the Country. Good evening, Jamie,
Good day, Ryan, good to have you back on. Who
is your will start with the person of the Year,
your ag Person of the Year for twenty twenty four.

Speaker 19 (01:21:16):
Well, I'm keeping my powder dry till tomorrow my last
show of the year, Ryan, and I will name my man.
So I'm not giving you, I'm not letting you still
with thunder there, but I'll tell you who I've been
asking all my regulars, and the sins to the field
seems to be narrowed down for three miles Hurral Fonterira
Chief Executive of the Year, Fonterra Company of the Year,

(01:21:36):
Todd McLay, Trade and Ag Minister. I've been everywhere man
and he really has He's got off his backside, and
he has traveled the world in search of trade opportunity
and the other one, and he's become a bit of
a regular over the past year or two. Is Wayne Langford,
the president of the Federated Farmers, so he's had his
restoring confidence tour with the PM. Federated Farmers had eleven

(01:21:59):
out of twelve of their policy priorities achieved. That's a
big tick in anyone's book. They're onto the banking inquiry.
They've even ranked the banks this year, Ravo Banks the
best and being z is the worst.

Speaker 16 (01:22:12):
Yeah.

Speaker 2 (01:22:12):
Interesting because you took a bit of a credibility hitting
the eyes of some farmers, didn't it, say he's obviously
I'm doing some way to repair that. What about the
are you going to let us in on you know,
which sectors in particular you're going to rank and how
they've done for the year.

Speaker 19 (01:22:26):
Yeah, no, this is no secret, Ryan, I've prepared this.
This is something I've prepared especially for you. So I've
given them, I've done the hosking. You see, I'm trying
to be more like Mike. I've marked the week, so
I've marked the year. So here you go, out of
ten derry nine out of ten ten dollars. Here here
we come horticulture of seven with a week caveat the

(01:22:47):
Kiwi fruits probably an eight. Is that are we doing?

Speaker 10 (01:22:50):
Is they to be there?

Speaker 19 (01:22:51):
Are you adding to the acasi?

Speaker 2 (01:22:52):
I think? And is adding some bells and whistles to
your account?

Speaker 14 (01:22:55):
Down?

Speaker 19 (01:22:56):
Bugger off at it's really annoying me. Okay, So beef,
I'll give an eight. We've got record prices for beef,
especially in the US, the lamb and mutton, the ol
sheep meat has been a bit more problematical all bet.
It's on an upward plane, but it's been reasonably depressed.
I'm only giving it a four and a four maybe
a four in a but forestry also only gets a four.

(01:23:18):
That we've had depressed log prices. We've obviously had the
bad slash publicity around cyclone Gabrielle. But the good news
for forestry is it is on the improve and it
can clip the ticket on carbon credits. One of the
exciting one. Not newcomers, but certainly it's doing very well
at the moment of seafood and aquaculture. I've given that

(01:23:39):
a good solid eight. Robust demand tights a global supply
helping their wall is the problem child really of the
primary sector. Ryan, across the board. I've given them the
three and that's only because fine walls dragging it up.
Strong wall, which is most of our wall. Strong crossbred
wall gets a one. Really it might get a one
and a half. It still costs many farmers more to

(01:24:00):
share this sheep than they get for the wall. That
is not a sustainable proposition.

Speaker 14 (01:24:05):
So there you go.

Speaker 19 (01:24:06):
That's me marking the year for farming.

Speaker 2 (01:24:09):
Brilliant and no sound effects required for Jamie McKay, Thank
you very much, Jamie Host of the country. Here on
News Talks. It'd be twenty nine minutes after six still
to come Indo Brady out of the UK. Plus we
look at the FED cut over in the US they've
done another quarter. Sam Dickey up next.

Speaker 1 (01:24:32):
Whether it's macro micro or just plain economics, it's all
on the Business Hour with Ryan Bridge and my HR
the HR solution for busy SMEs News Talks AB in
the b.

Speaker 2 (01:25:01):
Welcome back everyone. Twenty three minutes away from seven News Talks.
They'd be been quite a tumultuous here in the markets.
A fair number of hits and missus Sam Dickey from
Fisher Funds is well, then run through it, Sam. Good
evening to you.

Speaker 25 (01:25:13):
Good evening, Ryan.

Speaker 2 (01:25:14):
We'll get to that in just a second. Be first,
the Fed has decided to cut, and the markets have
reacted quite strongly. They don't like it, but not because
of the cut, but because of the slower cutting cycle
that's been forecasted.

Speaker 14 (01:25:27):
Right, that's right.

Speaker 25 (01:25:29):
It was a hawkish cut, if that makes sense to you.
So you know, fewer rate cuts projected, and in fact,
the Feed raised their forecast for twenty twenty five core inflation,
which is obviously their primary mandate. So the market took
it as quite hawkish and took a lot of rate
cuts out of the curve, and interest rates went up

(01:25:51):
and equity markets went down.

Speaker 2 (01:25:53):
Yeah. Yeah, interesting that one, because I mean, they're obviously
a bit a bit looser was their monetary policy when
it comes to inflation than we are. I mean, can
you imagine our Reserve bank making that call if inflation
was so stubborn? Here anyway, we'll go through. We'll go
through the rest of your top six. So we've done
number one, number two, the Trump bump, yes.

Speaker 25 (01:26:14):
And US exceptionalism, So we are obviously Trump won and
promised three things, really tax cuts. He promised to get
rid of wasteful red tape, and to cut a lot
of fat out of the federal government. So pretty powerful words.
The market reacted strongly. And let's not forget Rylan that
before these fighting words, the strength of the US economy

(01:26:34):
had been the number one positive surprise for stock markets
for the past eighteen months. So if we take a
step back, the US was supposed to be in recession
by now, according to economists, eighteen months ago. And then
you compare that to the other big blocks, so China,
which continues to struggle under huge debt burdens and are
structurally challenged Europe, so all of that's known as US exceptionalism,

(01:26:56):
and then we get the Trump bump, and so astonishingly
before today, just to define what the Trump bump is,
since Trump was elected, a few weeks ago, the U
s Stop market was up about seven or eight percent,
China was down five, and Europe was flat. So that
is very rare outperformance in such a short space of time.

Speaker 2 (01:27:15):
It certainly is. And the Trump bump on the cryptocurrency
has been pretty massive too, hasn't it.

Speaker 14 (01:27:22):
Right?

Speaker 2 (01:27:23):
Number three, this is by the way, if you just
joining us Sam Dickey from Fisher Funds with basically the
top six in terms of market movements for the year.
Number three. Yeah, well number three.

Speaker 25 (01:27:34):
I mean it's not necessarily market movements, but sort of
big hits and misses that caught our eye, in the
market's eye. So the umbrella reward I guess for down,
up and a flash was the Japan flash crash. So
it seemed like a very big deal at the time
we spoke about it in August. And Japan has been
trying to manufacture inflation really since the Japanese bubble popped
about thirty five years ago, so they kind of piggybacked

(01:27:56):
on the once in forty years spike in inflation that
we and the rest of the globe experienced in twenty
twenty two to drive through higher wages. But they were
just a little bit too late, so they tried to
raise interest rates just as the rest of the world
was cutting, and that popped a huge speculative bubble in
borrowing Japanese yearn at zero percent interest rates and investing
that money around the world and hot assets. And because

(01:28:19):
of that kind of countertrend rate rise by the boj
the Japanese equity market had has worst down day in
thirty five years, down twelve percent on the day, but
it's recovered all of that lost ground because the boj
said it wouldn't raise interest rates anymore until financial termol
had calmed down.

Speaker 2 (01:28:37):
Number four, You've got humanoids here? Are they going to
be a big deal?

Speaker 1 (01:28:42):
Yes?

Speaker 25 (01:28:42):
I meet George Shitson a little bit of left field there, Ryan,
just to sort of keep us on our toes, But yeah,
I mean, so what is a humanoid. It's a robot
that looks like a human and is designed to copy
human actions, so like walking upright and using its fingers,
because the world is built for humans. Now, they're only
four million robots in operation today, but you've got to remember,

(01:29:03):
over the next twenty five years, the working age population
is going to shrink by about three hundred million people.

Speaker 1 (01:29:09):
So that's a big deal.

Speaker 25 (01:29:10):
And in theory, we need to replace those workers, so
we're going to need hundreds of millions of these humanoids.
So it's a really early stage thematic to keep an
eye on.

Speaker 2 (01:29:19):
Very interesting. Number five. The award for market Darling is
passing from in Vidia to Tesla.

Speaker 25 (01:29:25):
Why yes, super interesting. So up until Trump got elected.
For the year, the Nvidia stop price was up about
one hundred and eighty percent. This is on November fourth
day before he got elected, and Tesla was flat for
the year, so huge dispersion there. And in the few
weeks since Trump got elected in Nvidia is down five
percent and Tesla's up eighty percent.

Speaker 2 (01:29:46):
So in short, it.

Speaker 1 (01:29:46):
Pays to be a friend of Trump.

Speaker 25 (01:29:48):
And of course Musk is promising to run the Department
of Government Efficiency, which if you think about that acronym's dodge,
where he will go into the federal government and rip
out two trillion dollars of wasteful spin then and implicitly,
because this is not explicitly, implicitly, in return, he's going
to get tariffs on competing Chinese EV's imposed and he

(01:30:10):
may win the race to dominate your time as vehicle market.
So to be fair that some other things that have happened,
like you know, General Motors set it would stop funding Crews,
which is a potential autonomous vehicle competitor to Tesla, but
it is a crazy passing of the market.

Speaker 2 (01:30:22):
Darling Baton, Yeah, absolutely, I mean in Vidio had grown
and athlet's be honest, they had their time in the sun.
Have you number six got a chip bro? What's this
about the chip wars? I'm assuming, yeah.

Speaker 25 (01:30:37):
The ultra high consequence computer chip wars. So the story there,
of course is given the manufacturing of advanced computer chips
is considered the most complex and precise manufacturing process humans
have ever undertaken.

Speaker 1 (01:30:49):
And given these chips drive.

Speaker 25 (01:30:51):
Almost every bit of technology would be touched and underpin
economies and militaries. It's no wonder this is enormous power struggle.
So a few factoids there when you think about it,
I guess the US and China chip wars that is
going on. So China imports more in chips than it
doesn't oil, so it's at a natural disadvantage there. And Taiwan,
or to be more precise, TESTMC, the company controls ninety

(01:31:14):
percent of high end chip manufacturing, so you can imagine
the natural tensions there. And the US even has an
active government called the Chips Act, which is funneling billions
of dollars into US chip designers and manufacturers to make
sure they win this war. So some very big, sort
of above our pay grade type things to keep an
eye on that.

Speaker 2 (01:31:32):
Absolutely. Hey, thanks, So much Sam, good to have you
on the show, Good to have you running through your
top six hits and missus on the stock market for
the year, that is Sam Dickey Fisher Funds. Just gone
sixteen minutes away from seven on News Talk, but we're
going to get to end of Brady over in the
UK to catch up on what's happening over there, plus
some final thoughts for the day.

Speaker 1 (01:31:51):
From me, everything from SMEs to the big corporates, The
Business Hour with Ryan Bridge and my Hr the HR
solution for Simmy Son News Talk Zibby.

Speaker 2 (01:32:03):
According to seven in the Brady are UK correspondents with
us live from the UK in the good evening to you,
thank you for being with me again. We spoke yesterday
about you know, Fergie had Well, we're actually at this
point we didn't know Fergi was involved, but we knew
that Prince Andrew was going to skip Christmas with the

(01:32:23):
royal family because of his links to a Chinese spy
whose identity we had just found out. Now we've got
an update on who kind of pushed him into that corner.

Speaker 9 (01:32:34):
Sarah Ferguson, his ex wife, so she seems to be
the only friend he has left. They lived together still remarkably,
even though they divorced in what nineteen eighty bodered the
same roof in Royal Lodge. Now a lot of people
wonder what sort of a domestic arrangement is this? Why
is she still in the fringes of the royal family?

(01:32:55):
And now the front pages today A source, a royal source.
Let's have been known that the King has expressed his
gratitude to Sarah Ferguson for making Andrew Sea sense and
stay away from Sandringham this Christmas. So earlier in the
week it came out that he had been banished, and
then there was a quote saying that he needed to

(01:33:16):
stay out of sight. And apparently it is Sarah Ferguson
who has made Andrews see since because I think he
will have wanted to have gone to Sandringham anyway, and
the King didn't want him there because his presence would
of course bring more Cameron lenses for all the wrong
reasons and reporters. So it is Sarah Ferguson who is
doing the peace deal and the olive branching behind the

(01:33:37):
scenes this Christmas.

Speaker 2 (01:33:40):
Well, I suppose everybody's happy, then, aren't they. Let's go
to the Google street View story. This is incredible. It
might have helped solve a murder case.

Speaker 9 (01:33:51):
Yeah, can you imagine I'm about to use the phrase
bad look for a murderer. But the Google street View
car had not driven down this village, northern Spain in
fifteen years, and it just happened to do so on
the day at the very moment that a guy is
seen bundling a big package into the boot of a car,

(01:34:12):
and the car is very visible, so too is the guy.
It's a tiny village with thirty two inhabitants. It will
not have taken long for the Spanish police to make arrests,
and indeed they have now arrested a man and a
woman on suspicion of the murder of a local man
called Jose Luis Rodriguez. His dismembered remains have apparently been

(01:34:32):
found in the local cemetery. And key to unsolving everything
and unpicking this story is the fact that the Google
street Maps car went down the street at that precise moment.
So when detectives were investigating the disappearance of this man,
the first port of call a young detective did was
go online. This village is tiny in the province of

(01:34:55):
Soria in northern Spain, and a young cop has gone
on Google stree maps just to see what the place
looks like, and he could not believe his look. Finding
a suspicious package being bundled into the boot of a
car at the precise moment that the disappearance had been registered.
You could not make it up.

Speaker 2 (01:35:14):
That is pretty crazy, isn't it. Let's go stay in
Spain actually, because they've apparently figured out the perfect number
of daily steps that you need to avoid depression.

Speaker 9 (01:35:25):
So scientists in Spain have done this. It's making the
headlines here because we have nine million people in the
UK on anti pals again, nine million people. Can you
imagine that the money that is in that for the
farmer industry, they will not like what is in the
papers today. Seven thousand steps is what we need to
be walking to avoid depression. Previously, there had been studies

(01:35:49):
from Japan saying that he needed to be hitting ten
thousand steps a day to be healthy. And the Spanish
have taken all the numbers, crunch the data, everything from
our smart watches and they reckon seven thousand steps a
day is the optimal number to avoid depression. So maybe
at some point, doctors, Ryan, I think, make the leap
and start prescribing adrenaline an exercise instead of just the easy,

(01:36:13):
lazy option of tablets.

Speaker 7 (01:36:15):
Yeah.

Speaker 2 (01:36:15):
Good point. The seventh that the thing is, I've done
that whole challenge where you do ten thousand steps a
day and some days you know you feel like doing it.
Some days it's easy, but some days you almost get
more depressed thinking about having to do it.

Speaker 9 (01:36:30):
Well, look, I suppose that's that's a challenge in itself.
But you know what, I since I've had one of
these smart watches, I find myself later in the day thinking, right,
I need to go and get a couple of pints
of milk from the shop now because I'm fifteen hundred short.

Speaker 2 (01:36:44):
So they do work in the Thank you so much
to that. In the Brady UK correspondent with us nine
minutes away from seven.

Speaker 1 (01:36:52):
Getting ready for a new administration in the US, what
will be the impact? It's the business now with hither
duplicy Ellen and my the HR solution for busy SMEs
news talks, he'd.

Speaker 2 (01:37:03):
Be it is six minutes away from seven. I've been
trying to think all day who my politician of the
year is. I don't know why this is the thing.
Audrey Young has always done Politician of the Year, hasn't she,
And she's always ranked the cabinet ministers. She's sort of
always been the authority in my mind on it. But
now every man and his dog is giving their Politician
of the year. Who would Jules be nin nine to two?

(01:37:26):
You've got a couple of minutes. I think, on balance
probably Winston Peters, because I didn't want Winston Peters to
get back into Parliament. I didn't. I didn't particularly like
Winston Peters after the last round. And gosh, he's just
so impressive, isn't he. The stamina on that man. How

(01:37:46):
many countries does he say he's been to? How many
knights has heven out of the country? One hundred and
two days nights he's spent out of New Zealand this year.
He's not a young man, and for someone of his
age to be doing that and getting up and delivering
those speeches off the cuff in the house, to be
across his portfolios, it's very impressive. And I'm talking here.

(01:38:07):
And the other thing about Winston Peters is that he
can go from you know, you get some politicians who
are really good at campaigning and they know how to
win elections, and Winston Peters knows how to do that.
But then you throw them into cabinet and they're absolute shite.
They have no idea how to run an office. They
have no idea how to run a ministry. But Winston

(01:38:28):
Peters's sort of managers to straddle both horses. So for
that reason I would say old Winston Peters, the right honorable,
would be my politician of the year. Lots of people
saying David Seymour Peters, I agree with Winston Peters, nicky kay, yes,
although obviously no longer with us and no longer in politics,

(01:38:50):
but what an absolutely inspirational woman. Adults of David Seymour's
coming in now? Who would yours be in?

Speaker 6 (01:38:58):
Oh far out? Put me on the spot, No, I
need a couple more minutes, sorry, come on.

Speaker 26 (01:39:04):
In the meantime someone who probably would be about as
good as a drinking buddy as your politian of hear
Winston Peter's Liam Gallagher. He's answered a few fan questions
on Twitter, and one of them saw a fan ask
him what his favorite Christmas song was, and he said
this one last Christmas Wham, which is interesting because Noel
Gallagher told us in twenty twenty two that they just
about got into a fight those two over what this

(01:39:26):
Christmas song ever and is? At that time Liam's favorite
was War Is Over by John Lennon, So I don't
know clearly his tasted.

Speaker 2 (01:39:32):
Change in the last two years. All right, and we'll
leave you, give me some time to think about that.
Maybe I'll come back. Can I do it tomorrow? We
will ask you tomorrow and yeah, all right, we'll wait
for answers. Answers, then thanks for your company to stapen.
Then everybody, great to have you see tomorrow.

Speaker 1 (01:40:01):
Game. For more from Hither Duplessy Alan Drive, listen live

(01:40:43):
to news Talks it'd be from four pm weekdays, or
follow the podcast on iHeartRadio.

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