June 15, 2026 • 11 mins
FIRST WITH YESTERDAY'S NEWS (highlights from Monday on Newstalk ZB) You Can't Just "Make" a Number/How Many Billions Do You Need?/Where the Milk Comes From/What to Hate-Watch
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Speaker 1 (00:09):
You're listening to a podcast from News Talk Said B.
Follow this and our wide range of podcasts now on
iHeartRadio Used Talk Said Talk.
Speaker 2 (00:24):
Hello, my beautiful beanies, and welcome to the bean for Tuesday.
First of yesterday's news. I'm Glen Hart and we're looking
back at Monday. The billionaires Club has got bigger in
New Zealand, and of course the trillionaires Club has got
bigger as well. There is one now it wasn't before,
so it's like it's infinitely bigger. It's my math's greet there.
(00:49):
We also need to talk about the milk industry in
New Zealand because some of the regulations around that might
be a bit out of date. And Marcus talks streaming
at the end of the podcast before any of that.
Labour's budget hole. It's not really clear ext how big
it is, but it certainly seems big.
Speaker 3 (01:10):
Treasury can provide pre election policy costings, but recognized political
parties in Parliament are the ones who request the independent
costings and analyzes. It's not, you know, a public totting
up as the policies come out, and rather than evaluating
(01:31):
policies in a vacuum, Treasury and other relevant public service
agencies assess the financial implications of the policies to ensure
consistency and reliability. But as a voter, I think we
really need a body that can independently audit each party's
promise as they go and see whether they're pining the
(01:51):
sky or doable. And it will only really be the
main parties we need to worry about. Minor parties can
make all sorts of outlandish promises and then say, oh,
soz the senior coalition partner put the kibosh on them.
We wanted every household in the country to have one
(02:11):
thousand dollars per week, but National slash Labor wouldn't let
us do it, so sorry about that. So it's only
really National and Labor you need to have a long,
hard look at. But I would really like to see
an independent authority with a head for figures, do the
sums and explain their workings in layman's terms so every
(02:33):
voter will know what we're in for.
Speaker 2 (02:35):
Ye it's all a bit overwhelming, isn't it. I mean,
as an ordinary everyday voter, we can't be expected to
add all this stuff up and make it work. But
you'd hope that the party an ounce of the policy
can do it. And yet this happened yesterday when Mike
(02:55):
Hosking asked Barbara Emmons about how it all adds up.
Speaker 3 (02:59):
We've made a very conservative figure that we've estimated our
capital gains, tax off news.
Speaker 2 (03:06):
Talk ze been so it sounds kind of like they've
just sort of liked to figure out of the They've
made a figure and they made it lowish just because
help me out here here.
Speaker 4 (03:25):
I think she actually won this exchange purely by holding
her ground, sounding confident, and pointing out that she doesn't
actually have to have public numbers that add up just yet.
It's June, the election is five months away. Labour hasn't
announced all of their policies yet. Heck, they've only announced
about three or four. They are entitled to have a
little bit of time to announce the full suite of
policies in the full fiscalol plan over the next few months.
Speaker 3 (03:45):
Now.
Speaker 4 (03:45):
This is not to say that Nichola Willis is wrong
in her assertion. I think in times she's going to
be proven right that Labour's numbers don't add up that
twenty dollars a week. Public transport policy has been hugely undercosted.
Reinstating pay equity will cost billions of dollars Labour doesn't have.
They're just going to have to put that on the debt.
The capital gains tax is not going to bring in
the amount of money that Labour says it will. So
(04:05):
Nicola is right Labour hasn't got the money, but her
timing is wrong. She has gone too hard too early.
But Nikola Willis also has a significant side issue of
her own hair, which is that she doesn't hold the
economic high ground. She doesn't have the money either for
what the National Party has promised, particularly regarding the roads
of national significance. They promised seventeen of them. We are
(04:26):
not going to get seventeen of them. While these guys
are in power. These roads are now being downgraded, as
in the case of Milroad and one other or but
they're being delayed to the point that we only had
one of these roads delivered in the latest budget. Now,
obviously an early parry doesn't win an election. I think
this is a case of Labor having yep, sure won
an early battle, but they're still going to lose the war.
(04:47):
But what this should tell you is that Barbara Edmonds
is maybe just a little bit better than some people
would estimate her to be and timing as they say,
is everything okay?
Speaker 2 (04:57):
Well, that you go. I guess they heard something different
than what I heard when I was sitting here listening
to that interview yesterday. I'm not quite sure. And saying
that Barbara Emons sort of sounds like she knows what
she's talking about. She's sort of throwing shade on Mike
Hoskin first day back?
Speaker 5 (05:14):
Is that? What was that?
Speaker 1 (05:15):
Do there?
Speaker 5 (05:16):
Well?
Speaker 2 (05:17):
Watch this Space talk Sidney, Right, So the rich list
is out. Apparently there are some rich people in this country.
Got a few billionaires now, a few more than before.
Interesting to hear how Richard Beck, Sir Richard Beck, sorry,
has gone from being a millionaire to a billionaire sort
(05:39):
of overnight over the last year. That was interesting. There's
money in space, isn't there with our first trillionaire as well? Anyway,
they got to talking about all this stuff on the
Afternoon Show yesterday. Do any of these people actually need
all this money?
Speaker 6 (05:53):
The sixties billionaires are frowned upon by working middle class
because we are over text in relation to our earnings.
New Zealand, for example, texts thirty percent for fifty three
k to seventy k. We should not lose thirty percent
of our income plus gert at such low levels, when
a person earning five hundred is taxed only an extra
nine percent. But then I guess people would push back
on that. And you know, figures show that the top
(06:15):
ten percent of income earners in New Zealand pay over
fifty percent of the total individual income tax, and the
bottom fifty percent of income earners pay ten percent of
total income tax. So you'd have to be careful that
you went in one of the brackets that's taking more
than their giving, yeah, and getting more services out of
(06:36):
the country than the top ten percent.
Speaker 7 (06:39):
Yeah, And they've got to be realized gains as well.
Right as that clap pointed out a lot of the
wealth and Elon Musk case and also a lot of billionaires,
it's tied up in shears and assets. So if it
hasn't been realized, it hasn't been cashed in to be
able to, you know, to try and tax that at
that point, many would say would be unfair?
Speaker 2 (06:54):
Would many say that that would be unfair? El Musk
might say that, and other billionaires might say that when
everybody else is going billion. One billion seems enough? Multiple billions,
that seems a lot. St oh Man, I spent a
(07:14):
lot of time talking about money and dollars and cents
and adding things up. Thank goodness, or Andrew wanted to
talk about Yesterday on early Edition was just going and
watching a little bit of Saturday morning sport, excepting, of course,
being New Zealand. He ran into the guy who runs
the second largest milk company in New Zealand.
Speaker 8 (07:35):
And googled Laurie when I got home and discovered yes,
he had been making a bit of a noise at
the Field Days. He'd been talking about the review of
the Act that regulates our milk industry. The Act gives
the responsibility of calculating the farm gate milk price to
fon terror because when it was set up it was
the biggest player by far was it was virtually a monopoly.
Now these days, Fonterra controls just seventy eight percent of
(07:59):
all the national milk and so he and others would
like other milk companies to have more say in setting
the farm gate price. And he argued at Field Days
that the market isn't truly competitive and without clear open
pricing rules, smaller processes can't compete on an equal footing
with the monster that is Fonterra, and I have to
say I agree. You know, it's a funny thing about
(08:20):
business philosophy. More competition does create better scenarios, but at
the same time, monopolies they can be bloated, yet in
certain cases create efficiencies. Fonterra was a monopoly. It created
an efficiency. But now with the rise of the independent
milk companies, maybe it's time to open it up to
more competition. Maybe it's time to let them have more, say,
(08:43):
to sharpen up Fonterra. But the big thing is to
give more choice to farmers.
Speaker 2 (08:48):
I actually don't know where my milk comes from. I mean,
I know it comes from cows ultimately, but I just
buy the cheapest one with the longest expiry day. But
it's not like I have any brand loyalty to one
over another, unless there is one brand that's always cheaper
(09:10):
and always has a longer expiry date than I'm loyal
to that brand.
Speaker 1 (09:14):
News talk has it been.
Speaker 2 (09:16):
It's a bit like streaming services. I like you loyal
to one service over another because you think they're particularly good.
I mean it's just who's got the Coowes that you
want to watch, isn't it? Surely? How does Marcus navigate
his way through all this?
Speaker 5 (09:30):
Marcus, I use Disney and Neon and Netflix by spend
most hours on YouTube Premium, Dan, what's this? HBO? Is
it just another one?
Speaker 4 (09:40):
So you got it?
Speaker 5 (09:41):
It's got nothing in common with Hulu or Apple or
I used to have like a comment that was on Neon.
I like them more to come together. And mainly I
only ever watched the rugby league and the basketball, and
occasionally the baseball when it's the playoffs, and occasionally Parker
(10:03):
with his gold And to be honest, I have watched
every single one of Emily in Paris? Is it any good?
It's terrible. It's so bad. Everything about it is appalling.
But you know, it's a heavy remote. I just can't
lift it and switch it off when it's on. It's
(10:25):
so bad. They speak in English the whole time until
they go back to French.
Speaker 3 (10:31):
It's so bad.
Speaker 4 (10:34):
But I've watched it all.
Speaker 5 (10:35):
As a new series comes out, I'll watch that too.
Speaker 2 (10:38):
I love it. That's quite an an unexpected I was
going to call it a viewing recommendation. But it was
kind of like a viewing, not recommendation. It's funny how
we do that, isn't it? I did? We did that
in our house with Marshalls. We hate watched Marshals because
we tend to like a Taylor Sheridan show. I don't
know how to directly involve Taylor Sheridan was in that
(11:00):
particular show though, that particular Yellowstone spin off. It didn't
really look feel sounding light Yellowstone. But yeah, we watched
all thirteen episodes of it or whatever it was. And
I don't know why it is that. I think Marker
should do a whole night's talkback on that on programs
(11:24):
that you've watched even though you didn't really enjoy them
all the way through. I think that's fascinating. I am
Glen Hart, and yes at HBO is a different service
now used to be part of your Sky package and
now it's not. Just to paar that up and we'll
see it back here again with more streaming advice tomorrow.
Speaker 1 (11:41):
Used Talking Talking Said Bean For more from News Talk
Said B. Listen live on air or online and keep
our shows with you wherever you go with our podcasts
on iHeartRadio
You're listening to a podcast from News Talk Said B.
Follow this and our wide range of podcasts now on
iHeartRadio Used Talk Said Talk.
Speaker 2 (00:24):
Hello, my beautiful beanies, and welcome to the bean for Tuesday.
First of yesterday's news. I'm Glen Hart and we're looking
back at Monday. The billionaires Club has got bigger in
New Zealand, and of course the trillionaires Club has got
bigger as well. There is one now it wasn't before,
so it's like it's infinitely bigger. It's my math's greet there.
(00:49):
We also need to talk about the milk industry in
New Zealand because some of the regulations around that might
be a bit out of date. And Marcus talks streaming
at the end of the podcast before any of that.
Labour's budget hole. It's not really clear ext how big
it is, but it certainly seems big.
Speaker 3 (01:10):
Treasury can provide pre election policy costings, but recognized political
parties in Parliament are the ones who request the independent
costings and analyzes. It's not, you know, a public totting
up as the policies come out, and rather than evaluating
(01:31):
policies in a vacuum, Treasury and other relevant public service
agencies assess the financial implications of the policies to ensure
consistency and reliability. But as a voter, I think we
really need a body that can independently audit each party's
promise as they go and see whether they're pining the
(01:51):
sky or doable. And it will only really be the
main parties we need to worry about. Minor parties can
make all sorts of outlandish promises and then say, oh,
soz the senior coalition partner put the kibosh on them.
We wanted every household in the country to have one
(02:11):
thousand dollars per week, but National slash Labor wouldn't let
us do it, so sorry about that. So it's only
really National and Labor you need to have a long,
hard look at. But I would really like to see
an independent authority with a head for figures, do the
sums and explain their workings in layman's terms so every
(02:33):
voter will know what we're in for.
Speaker 2 (02:35):
Ye it's all a bit overwhelming, isn't it. I mean,
as an ordinary everyday voter, we can't be expected to
add all this stuff up and make it work. But
you'd hope that the party an ounce of the policy
can do it. And yet this happened yesterday when Mike
(02:55):
Hosking asked Barbara Emmons about how it all adds up.
Speaker 3 (02:59):
We've made a very conservative figure that we've estimated our
capital gains, tax off news.
Speaker 2 (03:06):
Talk ze been so it sounds kind of like they've
just sort of liked to figure out of the They've
made a figure and they made it lowish just because
help me out here here.
Speaker 4 (03:25):
I think she actually won this exchange purely by holding
her ground, sounding confident, and pointing out that she doesn't
actually have to have public numbers that add up just yet.
It's June, the election is five months away. Labour hasn't
announced all of their policies yet. Heck, they've only announced
about three or four. They are entitled to have a
little bit of time to announce the full suite of
policies in the full fiscalol plan over the next few months.
Speaker 3 (03:45):
Now.
Speaker 4 (03:45):
This is not to say that Nichola Willis is wrong
in her assertion. I think in times she's going to
be proven right that Labour's numbers don't add up that
twenty dollars a week. Public transport policy has been hugely undercosted.
Reinstating pay equity will cost billions of dollars Labour doesn't have.
They're just going to have to put that on the debt.
The capital gains tax is not going to bring in
the amount of money that Labour says it will. So
(04:05):
Nicola is right Labour hasn't got the money, but her
timing is wrong. She has gone too hard too early.
But Nikola Willis also has a significant side issue of
her own hair, which is that she doesn't hold the
economic high ground. She doesn't have the money either for
what the National Party has promised, particularly regarding the roads
of national significance. They promised seventeen of them. We are
(04:26):
not going to get seventeen of them. While these guys
are in power. These roads are now being downgraded, as
in the case of Milroad and one other or but
they're being delayed to the point that we only had
one of these roads delivered in the latest budget. Now,
obviously an early parry doesn't win an election. I think
this is a case of Labor having yep, sure won
an early battle, but they're still going to lose the war.
(04:47):
But what this should tell you is that Barbara Edmonds
is maybe just a little bit better than some people
would estimate her to be and timing as they say,
is everything okay?
Speaker 2 (04:57):
Well, that you go. I guess they heard something different
than what I heard when I was sitting here listening
to that interview yesterday. I'm not quite sure. And saying
that Barbara Emons sort of sounds like she knows what
she's talking about. She's sort of throwing shade on Mike
Hoskin first day back?
Speaker 5 (05:14):
Is that? What was that?
Speaker 1 (05:15):
Do there?
Speaker 5 (05:16):
Well?
Speaker 2 (05:17):
Watch this Space talk Sidney, Right, So the rich list
is out. Apparently there are some rich people in this country.
Got a few billionaires now, a few more than before.
Interesting to hear how Richard Beck, Sir Richard Beck, sorry,
has gone from being a millionaire to a billionaire sort
(05:39):
of overnight over the last year. That was interesting. There's
money in space, isn't there with our first trillionaire as well? Anyway,
they got to talking about all this stuff on the
Afternoon Show yesterday. Do any of these people actually need
all this money?
Speaker 6 (05:53):
The sixties billionaires are frowned upon by working middle class
because we are over text in relation to our earnings.
New Zealand, for example, texts thirty percent for fifty three
k to seventy k. We should not lose thirty percent
of our income plus gert at such low levels, when
a person earning five hundred is taxed only an extra
nine percent. But then I guess people would push back
on that. And you know, figures show that the top
(06:15):
ten percent of income earners in New Zealand pay over
fifty percent of the total individual income tax, and the
bottom fifty percent of income earners pay ten percent of
total income tax. So you'd have to be careful that
you went in one of the brackets that's taking more
than their giving, yeah, and getting more services out of
(06:36):
the country than the top ten percent.
Speaker 7 (06:39):
Yeah, And they've got to be realized gains as well.
Right as that clap pointed out a lot of the
wealth and Elon Musk case and also a lot of billionaires,
it's tied up in shears and assets. So if it
hasn't been realized, it hasn't been cashed in to be
able to, you know, to try and tax that at
that point, many would say would be unfair?
Speaker 2 (06:54):
Would many say that that would be unfair? El Musk
might say that, and other billionaires might say that when
everybody else is going billion. One billion seems enough? Multiple billions,
that seems a lot. St oh Man, I spent a
(07:14):
lot of time talking about money and dollars and cents
and adding things up. Thank goodness, or Andrew wanted to
talk about Yesterday on early Edition was just going and
watching a little bit of Saturday morning sport, excepting, of course,
being New Zealand. He ran into the guy who runs
the second largest milk company in New Zealand.
Speaker 8 (07:35):
And googled Laurie when I got home and discovered yes,
he had been making a bit of a noise at
the Field Days. He'd been talking about the review of
the Act that regulates our milk industry. The Act gives
the responsibility of calculating the farm gate milk price to
fon terror because when it was set up it was
the biggest player by far was it was virtually a monopoly.
Now these days, Fonterra controls just seventy eight percent of
(07:59):
all the national milk and so he and others would
like other milk companies to have more say in setting
the farm gate price. And he argued at Field Days
that the market isn't truly competitive and without clear open
pricing rules, smaller processes can't compete on an equal footing
with the monster that is Fonterra, and I have to
say I agree. You know, it's a funny thing about
(08:20):
business philosophy. More competition does create better scenarios, but at
the same time, monopolies they can be bloated, yet in
certain cases create efficiencies. Fonterra was a monopoly. It created
an efficiency. But now with the rise of the independent
milk companies, maybe it's time to open it up to
more competition. Maybe it's time to let them have more, say,
(08:43):
to sharpen up Fonterra. But the big thing is to
give more choice to farmers.
Speaker 2 (08:48):
I actually don't know where my milk comes from. I mean,
I know it comes from cows ultimately, but I just
buy the cheapest one with the longest expiry day. But
it's not like I have any brand loyalty to one
over another, unless there is one brand that's always cheaper
(09:10):
and always has a longer expiry date than I'm loyal
to that brand.
Speaker 1 (09:14):
News talk has it been.
Speaker 2 (09:16):
It's a bit like streaming services. I like you loyal
to one service over another because you think they're particularly good.
I mean it's just who's got the Coowes that you
want to watch, isn't it? Surely? How does Marcus navigate
his way through all this?
Speaker 5 (09:30):
Marcus, I use Disney and Neon and Netflix by spend
most hours on YouTube Premium, Dan, what's this? HBO? Is
it just another one?
Speaker 4 (09:40):
So you got it?
Speaker 5 (09:41):
It's got nothing in common with Hulu or Apple or
I used to have like a comment that was on Neon.
I like them more to come together. And mainly I
only ever watched the rugby league and the basketball, and
occasionally the baseball when it's the playoffs, and occasionally Parker
(10:03):
with his gold And to be honest, I have watched
every single one of Emily in Paris? Is it any good?
It's terrible. It's so bad. Everything about it is appalling.
But you know, it's a heavy remote. I just can't
lift it and switch it off when it's on. It's
(10:25):
so bad. They speak in English the whole time until
they go back to French.
Speaker 3 (10:31):
It's so bad.
Speaker 4 (10:34):
But I've watched it all.
Speaker 5 (10:35):
As a new series comes out, I'll watch that too.
Speaker 2 (10:38):
I love it. That's quite an an unexpected I was
going to call it a viewing recommendation. But it was
kind of like a viewing, not recommendation. It's funny how
we do that, isn't it? I did? We did that
in our house with Marshalls. We hate watched Marshals because
we tend to like a Taylor Sheridan show. I don't
know how to directly involve Taylor Sheridan was in that
(11:00):
particular show though, that particular Yellowstone spin off. It didn't
really look feel sounding light Yellowstone. But yeah, we watched
all thirteen episodes of it or whatever it was. And
I don't know why it is that. I think Marker
should do a whole night's talkback on that on programs
(11:24):
that you've watched even though you didn't really enjoy them
all the way through. I think that's fascinating. I am
Glen Hart, and yes at HBO is a different service
now used to be part of your Sky package and
now it's not. Just to paar that up and we'll
see it back here again with more streaming advice tomorrow.
Speaker 1 (11:41):
Used Talking Talking Said Bean For more from News Talk
Said B. Listen live on air or online and keep
our shows with you wherever you go with our podcasts
on iHeartRadio
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