Episode Transcript
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Speaker 1 (00:02):
Pressing the newspakers to get the real story. It's hither
duper c Ellen drive with one New Zealand let's get connected.
Speaker 2 (00:10):
News Talk said, be.
Speaker 3 (00:14):
Hey, good afternoon. Coming up today. Nikola Willis the Finance Minister.
On that GDP number that we got this morning. The
mom of the missing matter Corper Kids has released that
letter from their dad. We're gonna have a chat to
Karen Rutherford, the news Hube journalist. All over the story
and Wellington City Council's a shambles. I'll get you across
the latest details and we're going to speak to Sammy
and Brown, the local government minister, on whether it's time
to intervene.
Speaker 2 (00:35):
Heather Dup for Cy Allen Right.
Speaker 3 (00:36):
The GDP figures. The last time we got the GDP
figures was three months ago, and I remember telling you
at the time that my brother was thinking of shutting
his shop because business has got that bad. And the
update today is he shut a shop. He and his
business partner decided to pull the pin. They did that
last month. End of the month. They had a great spot.
They were on Ponsonby Road, heaps of foot traffic. But
(00:57):
even in a reasonably affluent place like Pons in Auckland,
the wallets snap shut, the sales dropped, and they just
could not make it work anymore. Now, the reason I'm
telling you this is because that is the real life
experience of what we see when we look at the
GDP figures. What those figures are telling us in numbers,
it's people shutting their businesses, it's people giving up on
their dreams. It's people having to in some cases sell
(01:17):
their homes. That's what these numbers tell us. According to
today's numbers, technically we're out of recession. But I would
really pause before celebrating on this because geez, I mean
it is by a whisker, right, it's zero point two percent,
which means that when it gets revised, which it always
does in the following weeks, there is a chance that
they might revise it down. There is a chance it
(01:38):
might go below negative again, and then technically we're back
in recession again. I mean, that's how close the thing is, right.
So there seems to be three reasons why we managed
to just eke out a positive instead of flatlining or
coming in on the negative. And that is a bumper key.
We fruit harvest, our dairy farmers and the fact that
we pumped two hundred and forty thousand people into the
country in a year. We've learned by now that that
(02:01):
number masks a lot, right, that immigration number pulls us
through when really it's masking what's going on. If you
really want to measure GDP properly, you have to look
at the per capita number. What's going on there, and
that's gone backwards. It's gone backwards for eighteen months straight now.
So what I'm trying to say is for eighteen months
we have been getting poorer and poorer and poorer. Just
(02:22):
in the last year alone, the per capita number is
negative two point four percent. That's what's really happening to
the country. That's what's really happened in the last year,
negative two point four percent. Are shrinking in the economy. Now,
having said all of this, right, that's what we're That
is the reality of what's going on at the moment.
That is the reality of what's gone on in the
last few months. I'm still optimistic now. The reason I'm
(02:44):
optimistic is because I reckon we're through almost If we're
not already through the hardest, but we're almost through the
hardest bit. We're in the middle of winter. This is
the hard slog. On the other side of it, it's
going to have to be better than this. I reckon,
we are going to get a cut in the ocr
this c I know adrianaw was trying. It took doom
and gloom into us, But I reckon he's jewel boning.
I reckon it'll be November we get a cut. And
(03:05):
the reason I say that is because what you're seeing
in the contracting numbers all around this country is too
bad for him to leave us like this too much longer.
He is going to have to put us out of
our misery soon. Also, you talk to business, there are
green shoots. I mean to be fair, they are few
and far between, but they are there. So Yes, it's rough. Yes,
(03:25):
the number is just on the right side of positive,
and it's really not buying much. And I wouldn't be
celebrating about it. But I'm going to take whatever positive
news I can out of this right now, together, do
see two ninety two is the text number. Also talk
to as I say, Nikola Willis will be with us
after five o'clock now stonehenge, I mean, jeez, you'll have
seen this by now, right Stonehenge, which is one of
the UK's oldest monuments, has been vandalized with orange powder
(03:48):
by the Just Stop Oil protesters. Two people have been
arrested and both Rishi Sunac and Kiostama, the guys who
are running for Prime Minister at the moment, have condemned
the action. In a statement, the group said, continuing to
burn coal, oil and gas will result in the death
of millions. We have come together to defend humanity or
we risk everything now. Carol Cohen is a member of
climate protest group Extinction Rebellion in New Zealand and is
(04:12):
with us now. Hey, Carol cureda.
Speaker 4 (04:14):
How are you, Heather?
Speaker 3 (04:15):
I'm well, thank you. Do you think they've gone a
little bit far here?
Speaker 4 (04:19):
Well, it's hard to say, isn't it, Because you have
got some responsibility with using corn start. It's going to
run off next time it rains. It's not damaging stones.
It's making a point that you know, we've got a
climate crisis. Eighty percent of our population is concerned about
(04:43):
the climate. Most of your listeners will be concerned about
the climate. And yet we've got governments not only here
in New Zealand but all around the world who are
just stalling on taking action. And when they say that,
you know, thousands are going to or they say, I
(05:03):
forget want number millions die millions. Yes, well, we've got
people dying now. We have three thousand or so a
year in New Zealand dying of air pollution. We've had
people in India right now dying of heat exhaustion because
of the heatwave and so on and so forth.
Speaker 3 (05:29):
So, Carol, I mean, do you think that any when
these two people turn up and they're spraying the orange
stuff on Stonehenge, do you think that people look at
that and go, oh man, we've got to do something
about the climate. Or do they look at them go
packer clowns.
Speaker 4 (05:43):
I think you get both. If we think of our
experience here in this country over the ady One tour,
that we had people going, you know that you shouldn't
be out on the street, you shouldn't be trying to
disrupt rug feet and you had other people saying, I don't.
Speaker 3 (06:00):
Know that there's any equivalents because back in at the
Springbok tour you had a lot of people taking to
the streets. It was a really big group. You get
to to just oil people. I mean It's a tiny
handful of crazies.
Speaker 4 (06:13):
Isn't it. This is a one off thing that's happened
with only two people. Yeah, they have streets. They've had
so many protests. They stop the they interrupt sports, they
interrupt traffic. They it's just ongoing and it's big.
Speaker 3 (06:33):
Hmm.
Speaker 4 (06:35):
Okay at twenty thousand in the streets a couple of
weekends ago.
Speaker 3 (06:40):
Carol, I'm kind of perplexed by the choice of Stonehenge,
because I mean, the stones aren't doing anything to the climate,
are they. This just looks like a tension.
Speaker 4 (06:48):
Seeing Yeah, I know, and you know chose it.
Speaker 5 (06:53):
I don't know.
Speaker 4 (06:54):
Why would it be appropriate for us here to I
don't know, do a to serverity protest with Queen Victoria statues.
Would that be irrelevant?
Speaker 3 (07:06):
Why don't you vandalize some cycle ways?
Speaker 4 (07:10):
Well, we want cycle ways. I'll tell you what I've
done here. We have gone on and symbolically shut them
down and declared it a climate.
Speaker 3 (07:22):
You shouldn't do that, Carol. Didn't you just hear what
I said about the GDP. The reason that we're technically
out of recessions because are dairy farmers. You've got a helpful.
Speaker 4 (07:30):
Terror I know, well, yeah, I know you have to
for the GDP, But are you going to do GDP
over climate crisis when we have got and houses that
are unlivable from last year's floods and cyclones? And why
did we have such a terrible cyclone's terrible floods? They
(07:53):
worked out it was about sixty percent worse because of
the climate.
Speaker 3 (07:58):
Right, Well, you still need the GDP to be able
to fix those houses. Carol, thank you. I really appreciate
you having a chat to us. It's Carol Cohen, Extinction Rebellion,
Tommacky Makoto spokesperson. Now, this is another headline Boeing didn't
need a I mean, as if Boeing hasn't had enough
bad headlines, and as if they weren't just getting absolutely
slammed before those politicians in the US here yesterday, get
(08:20):
a load of this one. This is the headline today
Boeing faults leave two astronauts stranded in all bit. Yeah,
not only are they stuffing up what's happening on planet Earth,
but they're stuffing up space as well. Apparently, the Boeing
spacecraft that was designed to bring back a couple of
American astronauts from the International Space Station has faults water shock,
so they're going to have to stay there for two
(08:40):
weeks longer than planned. Sixteen past four.
Speaker 1 (08:43):
Digging deeper into the day's headlines, it's Heather duper c
Allen drive with one New Zealand one giant leap for
business U storgs'd.
Speaker 3 (08:52):
Be Darcy water Grave Sports Talk hoosters would be arout
right now, Hey Darcy.
Speaker 6 (08:55):
Hello Heather.
Speaker 3 (08:56):
What's going on with the football Ferns.
Speaker 7 (08:58):
I don't know.
Speaker 8 (09:00):
Does anybody know facilitators are being rolled out to help
what's going on with yet Ka Klimkova.
Speaker 3 (09:06):
Down with the players?
Speaker 7 (09:08):
Well, you'd presume that would be the case.
Speaker 8 (09:11):
I don't know how much more deep it is, but
I think that New Zealand Football are pretty good at keeping.
Speaker 7 (09:15):
Things under wraps. They don't want none to see here,
especially if there's trouble.
Speaker 8 (09:19):
At mel But I suppose you wonder, and again I
don't know. I'm just throwing some ideas out there around there.
What has yet Klimkov achieved so far as the head
coach of the football Ferns.
Speaker 3 (09:32):
Has she not been very good?
Speaker 9 (09:33):
No?
Speaker 3 (09:34):
Have they got worse?
Speaker 8 (09:36):
I don't think they've improved I don't think we've seen
any advance in what they do on the pitch and
how they play, and I think that's a worry, especially
when you consider we've got the Olympic Games coming up,
which is even more of a concern. When you think
she was stood down or moved to one side, or
quiet into whatever they want to call it, only a
(09:58):
couple of months out from the Olympic Games, that suggests
there's been some serious community of breakdowns within that side.
Speaker 9 (10:06):
Now.
Speaker 8 (10:06):
Whether it's an outside influence, I don't know, but not
having access and having your head coach, if your football
Fern's not there. You look at the World Cup and
it started with a hiss and a rule fantastic and
then it just went up after that. I think team
selections in that side were poor. I think they look
to favorites players that have performed before, not players that
(10:26):
informed at the time. I don't think that worked. I
don't think New zeal On Football handled that whole tournament
particularly well when it came to and you would have
experienced this as well, getting players on air, actually building
on the momentum that that Football World Cup had triggered.
So it doesn't really strike me as strange that this
(10:46):
is a bit eight funded if you know what it happens.
Speaker 3 (10:49):
Okay, so they're bringing the facilitators to sort out whatever's
going on in there, and then what and then hopefully
they repair things that we can carry on.
Speaker 7 (10:56):
Well hopefully.
Speaker 8 (10:57):
I don't question here and a lot of football people
because I'm not one of those just look at the
team and go it's not gonely wish. It's on a
long long term content. We don't know why because nothing's
really changed on.
Speaker 3 (11:11):
What happens.
Speaker 7 (11:11):
We don't hear anything.
Speaker 3 (11:12):
Tell me about what's going on with TMO at Twicken
This sounds fascinating.
Speaker 8 (11:16):
Well I was fascinating. It sounds stupid, it really does.
So what they're looking at doing and Twitter. They've got
a couple of games coming up, one of them being
a Barbarians game VPG Whales South Africa. The TMO is
going to be get this, wait for it, handed greater influence.
It's the last thing we want to do.
Speaker 7 (11:35):
What to do whatever they want.
Speaker 8 (11:37):
The ability to alert referees to knock ons and forward
passes in real times like it's only a trial at
the moment. These live referrals to be used when the
on field team, is mister clear an obvious incident, a
decision that doesn't need a formal But what have we
learned from this and the interruption of tmos They make
(11:57):
a mess of it.
Speaker 7 (11:58):
We had that situation where Wayne Barnes and it was.
Speaker 8 (12:01):
That Tom Foley, Yeah, and Tom Follyer No, no, no, no,
I've seen something that went back four phases.
Speaker 6 (12:07):
Allowed to do it?
Speaker 3 (12:07):
No, no, totally. But that is that's a different issue
to what we're talking about, because but if they're doing
things real time, that's going to be better than then
if they see a forward pass and they call it
immediately said that was a forward pass. You stop the game,
you deal with it. That's heaps better than allowing the
player to continue and then thereafter coming back.
Speaker 8 (12:24):
Now, what it does, though, is it brings another chef
to the situation to stick the ladle into the pot,
and that I don't like. It means suddenly you've got
I'm the boss. No, no, I'm the box. Actually I
saw something, I'm the boss, and I think with Tom
Foley we saw Ego climb in there.
Speaker 7 (12:39):
I saw something you talk to me.
Speaker 3 (12:41):
I'm pretty sure the annoying face in the box.
Speaker 8 (12:44):
I don't remember what he looked like, made an awful
decision of a quiesced to that decision, and it costs
or maybe not cost us a World Cup, but it
didn't help.
Speaker 3 (12:53):
Have you got so? Have you got Peter alertiny On?
Speaker 8 (12:56):
No, nobody's talked to you by one of the guys
early on. Peter, you talking about Super Rugby tonight.
Speaker 3 (13:02):
I just googled. I just googled Tom Foley. It was
his annoying, his annoying.
Speaker 7 (13:06):
It's a matter what people look like. Surely we're in radio.
Speaker 8 (13:08):
We can't judge people on their looks right behind them.
Speaker 7 (13:13):
Not saying, not saying anything about the way you look hither.
Speaker 3 (13:16):
Because that would be untowarded me to take your spade
away from you.
Speaker 8 (13:20):
No, no, no, I'll give it back to Simeon Brown
because he's got much better use for spades than I have.
Speaker 3 (13:25):
As far as prastructure, I've wrapping this up. Okay, Super
Rugby at seven.
Speaker 7 (13:31):
O'clock you join us on the program.
Speaker 3 (13:34):
Thank you.
Speaker 2 (13:35):
Digging deeper into the day's headlines.
Speaker 1 (13:37):
It's hither duper c Allen drive with one New Zealand
let's get connected.
Speaker 3 (13:42):
His talk said, be coming up twenty six past four now,
The mom of the missing Mater Corper Kids, released a
letter late last night from the father. As far as
I can tell, it's not dated, so we don't know
when he wrote this let. It's handwritten. I'm not gonna lie.
It looks like it was written by a twelve year old,
like that's that's some twelve year old writing. But anyway, whatever,
(14:02):
not to judge the man for like bad handwriting. Some
people have bad handwriting. Anyway. To get to the point, Heather,
so she said, I've decided to share a letter written
by Thomas to show that all is not as it seems.
And then the letter starts, I don't know what to
say or do to help you forgive me. I'm not
desperate to be with someone, or I would already have
done it. I don't want to be with someone. I
want to be with you, Catherine, the woman I've been
(14:24):
in love with for over seven years. I can't make
you forgive me. Only you can make that choice, and
I know you don't have to. If I ever give
up trying to make things right, I will regret it forever,
et cetera, et cetera. Anyway, The thing is, I read
it and thought Why are you releasing this? What is
the point of this? I don't get this, And the
only conclusion I can get to is that she is
(14:44):
getting blowback. That's what I think's gone on here. She's
gone public for the first time since the kids went missing.
People have started giving her a whole bunch of crap
for it because the community supports Tom Phillips, and so
she wants to prove that she's not the problem he is.
That's what I think is up. We'll have a chat
to Karen now, Karen Rutherford has actually met her and
spoken to her. This is the news Hub journalists been
(15:05):
all over the story. We're gonna have a chat to
her when she is with us about ten past five. Also, Heather,
the Just Stop Oil protest lost it a long time ago.
Stonehenge has nothing to do with climate change. The people
who built it did not use oil to crane the
stones in place, and the monument has been through many
changes of climate and is still standing. So, in fact,
(15:25):
shows the exact opposite of their argument. That's from Nikola,
which I think is a fair point to make.
Speaker 5 (15:29):
Right.
Speaker 3 (15:29):
This is the thing everybody get. I can understand if
you're having a protest at cars right, because they're running
on the fuel. They're running on this stuff that's making
the climate. It's hurting the climate. I get that. I
can may be sort of like stretched to you wanting
to deface the Mona Lisa or disrupt the tennis because
(15:49):
there's a bit of well involved there, like you know,
this is a bit oily, you know, and the balls
made with some oily stuff, aren't they like something like that?
The clothes, there'll be something, but Stonehenge did nothing to nobody.
Speaker 10 (15:59):
Headline Next, the day's newsmakers talk to Heather First, Heather
Duperic Allen drive with One New Zealand Let's get connected
and news talk.
Speaker 2 (16:12):
Z be.
Speaker 3 (16:22):
Vary's Opas with us in ten minutes time. Nicola willis
with us after five o'clock. While so Nicholas going to
come and talk to us about what's going on in
the economy right the GDP that we've had out today,
which is just positive side, but only just. But while
we've got her, I'm going to ask her what's going
on with this complaint about a local bank and the
government's bond sale. This was front page of the Herald today.
(16:44):
There's been complaints to the Financial Markets Authority about twenty
twenty two a government bond sale. The allegation is that
a major local bank had manipulated the sale of government bonds,
which then ended up costing the tax payer thirty three
million dollars. Now well, same ish thing is alleged to
have happened over in Australia. Australia's corporate regulator is also
(17:05):
investigating aan Z over there for similar concerns. Now, Nikola
Willis has had a brief and she will have had
a briefing by now on what exactly has happened. She
says she'll be making a statement later in the day,
so when she's with us, we'll see if we can
get to the bottom and maybe ask her which the
banks it is. Heather Blair here first time text and
my question is how did the protesters get to Stonehenge.
(17:27):
I imagine they drove there unless Tory has built them
a nice little cycle way, probably twenty three away from five.
Speaker 2 (17:35):
It's the world wires on news dogs. He'd be drive.
Speaker 3 (17:39):
The head of Hezbolla says his fighters are ready to
respond if Israel steps up its attacks on Lebanon. Clashes
between Hezbolla and the israel defense forces near the Israel
Lebanon border have escalated over the last five weeks. Hassan
Nasrallah says that if the wall widens, Cyprus could become
involved as well.
Speaker 11 (17:57):
The Cypriot government should be aware that the opening of
its airports and bases for Israeli military use would mean
the Cypriot government becomes part of the war, and the
resistance will deal with this part of the war.
Speaker 3 (18:08):
Russian President Vladimir Putin has moved on from his tour
of North Korea to his tour of Vietnam. He's expected
to meet with the country's Prime minister and president to
discuss weapons sales and educational exchanges. A university professor in
Vietnam says Russia is still well regarded by the Vietnamese
public because of the Soviet Union's assistance in the Vietnam War.
Speaker 12 (18:27):
We were hungry, dying, and in a very difficult situation.
Russia helped us with feud undommunition. Thanks to that, we
stood firm on the battlefield and held our ancestral LUNs.
Speaker 3 (18:39):
And finally, a druid. Lots of crazy things happening at Stonehenge,
a druid in England is planning to cast a spell
at Stonehenge to help England beat Denmark and the Euros.
This is a sixty nine year old chap. King Arthur
Pendragon is his name, and nah, he wasn't born with
that name. Obviously. He reckons he can channel the country's
natural energy to the foot ball team while they're playing
(19:01):
the Dames in Frankfurt, and King Arthur Pendragon's pretty confident
it's going to work.
Speaker 8 (19:06):
It may be seriously named after the Scandinavian god of
war Thor, but.
Speaker 7 (19:10):
I'm predicting England to win two nil.
Speaker 1 (19:14):
Come on, England International Correspondence with Ends and Eye Insurance,
Peace of mind for New Zealand Business.
Speaker 3 (19:22):
Murray Old Ozzie Correspondence with US Now ho muz.
Speaker 9 (19:26):
Very good afternoon, Heather.
Speaker 3 (19:27):
Okay, how's this going down? The plan to build the
seven new nuclear plants?
Speaker 9 (19:31):
Well, no surprise when I tell you that it depends
which way you vote. Over here, Coalition supporters, those who
like Peter Dutton are thropping Labor fans are saying it's
absolute nonsense what Dutton is proposing. I basically, the climate
wars are back on over here at big, big time,
and the opposition here there is gambling that I promised
(19:52):
to bring a nuclear power to this country will win
enough support to kick Labor out of oppose at the
next election. Peter Dutton's promising seven nuclear power plants at
seven different sites around Australia. Two he says will be
operational in eleven years if the Coalition gets up next
year at the election. He's promising to provide emissions free
(20:14):
baseload power, which of course is a critical part of
Australia's energy mix. Large scale reactors for New South Wales,
queenslanda Victoria, smaller units for South Australia and Western Australia,
all to be government owned. Okay, so good, so far
as I say. Coalition fans are saying new beauty. But
what the critics are saying as wow, it's going to
(20:36):
be well for a start off. Can you give us
some costings. Who's going to fund this? Well, the government
and taxpayers will own it. Who's going to build and
design it? The only ones getting built and design around
the world right now are being built and designed by
Russia and China. He's promising more detailed costings after the
next election. Will lay us you know, rightly saying, well,
hang on, how on earth can we back this kind
(20:58):
of bit vague and how much are we're going to
be up for? And the experts, the science, the science
leaders have here are saying nuclear power head that will
simply be massively more expensive than renewables. So again, the
climate wars are on and we're all most or for it.
Speaker 3 (21:16):
Explained something to me though, because if it's falling largely
down political lines, right, so if you vote right, you're
going to love it, and if you vote left you're
going to hate it. Shouldn't people who vote left actually
be on board with this because your alliance is a
country on coal is way too high and anything to
help the climate would be a good thing for a
left wing voter, wouldn't it.
Speaker 9 (21:34):
Well, yes it would, but to the extent that we
need to know how much we're going to be paying
for this very expensive nuclear option. Peter Dutton is look
the Citysirose is our premiere scientific organization in Australia. The
best scientific brains in the country have said, listen, this
will not be on time. It'll be way beyond twenty
(21:58):
forty when the first powers coming off the grid and
atomic energy plant we have no idea how much it's
going to cost, who's going to design and build it.
There's just all often the never never, And it's basically
splitting down this ideological line. The National Party hates renewables
to bugger off. We want to keep digging out coal
and farting cows and all the rest of it. And
(22:20):
Peter Dutton is trying to exploit the political prism, the
divide that exists in Australia. He's trying to exploit that
to win office. And fair enough, I mean, go your hardest,
Peter Dutton. But a lot of people aren't buying it.
I understand what you're saying about the left. Anything to
drive down a mission shore, but at what cost and
how long? That's the big questions.
Speaker 3 (22:41):
Well, that is an argument that I would share with
the left. At what cost and how long? Hey, what
happened with this road rage incident in Sydney. How do
you go from being angry at someone to mowing them down?
Speaker 5 (22:52):
Oh?
Speaker 9 (22:52):
Exactly, And there's a whole bunch of different questions being asked.
The young guy twenty seven years old, he was hit
and run this morning, died at the scene in Western Sydney.
The police trying to find the driver victim wearing high
viz clothing. Road very very busy. Parents were dropping children
off at school very nearby the shopping center as well.
Some suggest it was a road ratage, a road rage incident,
(23:15):
based on witnesses who said, gee whiz, this guy was
driving awaund one thousand miles an hour. Very good description
of a ute involved. And now an appeal of course
for dash cam footage.
Speaker 3 (23:25):
Mars, thank you. I really appreciate your time. As always,
look after yourself. We'll talk to you next week. That's
Murray Old's Australia correspondent. Sometimes speaking of power sometimes when
things are bad, I like to remind myself might be bad,
but it could be worse. So we are obviously we
know that we are facing our own power issues in
this country. If we do end up having a power
into outage this winter, just think and least we're not
(23:48):
equadal because that whole country of eighteen million people lost
power yesterday. The whole country, not just Northland. Wasn't just
like oh, Northland can't charge at CVS or you know,
a small pocket of over there and the command or
which generally tends to get hit the whole country lost
the power, all of it, the subways, the heater, iss
(24:09):
the traffic lights, all of it because of a failure
in the transmission line. So at least we're not that bad.
Sixteen away from.
Speaker 1 (24:15):
Five politics with centrics, credit, check your customers and get payments, certainty.
Speaker 3 (24:19):
Very so, sen your political correspondence with us. Now, Hey Barry,
good afternoon, Heather. So this is the first full quarter
GDP result for the government in the new government. And
as far as I mean, if you're going to take
a win, then I suppose zero point two percent.
Speaker 6 (24:34):
There won't be any champagne corks being dropped in the
bee hive. I wouldn't have thought. But at least the
track is above zero or negative, So you know, zero
point two percent. I mean, it's neither here nor there.
Statistical margin of era of stuff.
Speaker 3 (24:50):
We're probably going to be revised exactly.
Speaker 6 (24:52):
But I think the thing that they'll take some heart
out of, and it comes as no surprise, it's a
primary sector that is essentially driven the GDP rate, and
that's great. Agriculture, forestry, fishing production. They all rose zero
point four percent, and I think that's pretty good. The
(25:13):
particularly forestry, the rise there was five point five percent
if you single that one out. The downside was construction,
which obviously is slow to get underway, but with the
fast track measures in place, one can only hope that
that'll have a bit of a lift. So it was
(25:35):
down just over three percent in the first three months
of this year. It's interesting, though, isn't it when you
look at GDP rates and we were all ready at
the second end of the second quarter. Now, well the
end of June next week we will be and we
have to wait another three months before we know what's
happening at the moment, you know. And I think the
(25:56):
data that comes out STAT.
Speaker 3 (25:58):
Says it can't do it more regularly, too expensive.
Speaker 6 (26:00):
Well I don't know why not, but ex well, how's
don't they have computers?
Speaker 3 (26:08):
Marry Stats can't even do the census, so maybe they
don't have computers.
Speaker 6 (26:13):
I'll be interested to see what Nikola Willis says. I'm
sure she's pretty realistic, but she said that earlier today
that New Zealanders are feeling the long shadow of the
prolonged period of inflation in this country, and of course
that's in the book of Adrian Or and what the
Reserve Bank will be doing. Don't expect to see much
(26:33):
movement in the OCR I would think on that front,
which is a bit unfortunate. But I looked around the
world to see what the GDP rates were like for
other countries, and you look at the country that Chris
Luxen has just left, Japan, they're only at zero point
nine percent for a year. You look at Fiji, where
(26:55):
he was recently, that's at three percent, Australia's at one point.
The United States, so they've come through COVID obviously pretty
well at two point seven percent a non enormous economy.
Speaker 3 (27:07):
That sounds pretty good to me. Well, they're above yeah,
all above us. Hey, so the American print, you'll be
excited as a massive Trump supporter, you'll be ably fizzing
for the first presidential debate.
Speaker 9 (27:19):
Yeah.
Speaker 6 (27:19):
Well, you know, I got another email, and I've got
a couple of emails from the Republican campaign. They were
telling me this morning, this is the moment we've been
waiting for, Barry. We're just a few days away from
President Trump, our MAGA champion stepping into the ring with
crocod Joe Biden. The debate is this time next week,
(27:39):
and they're saying that we all know what will happen
in this debate. President Trump will dominate, Biden will be
as high as a kite, and the fake news media
will lie about the real winners. That they're pretty negative
at the beginning. Yeah, well, judging by the performance though,
I've got to say both men over the past twenty
four hours, you'd have to ask, what's the world coming to? Here?
Speaker 13 (28:03):
They are My name is Joe Biden and Joe Biden's husband.
Thanks to all the members of Congress and homeless Security Secretary.
I'm not sure you're going to do you all the way,
but all kid decide Secretary Marcus as well as Secretary
with Sarah, everybody's is here.
Speaker 14 (28:23):
Take a look at our inflation, our real inflation. They
said it was ten for the last couple of years.
Speaker 2 (28:28):
Cumulatively.
Speaker 14 (28:29):
You take a look at inflation and if you add
different categories, which said I think our inflation is between
forty and fifty percent. They said it's aid twenty two percent,
but I think you could double it.
Speaker 6 (28:40):
Yeah, well, the official inflation right in the US is
three point seven percent.
Speaker 3 (28:45):
Barry, Look, I know you hate Trump, but you have
to agree you'd rather take the more on over the
guy who can't talk.
Speaker 6 (28:51):
Well, he's more articulate, There's no doubt about that.
Speaker 9 (28:55):
To me.
Speaker 6 (28:56):
To compare those two audio.
Speaker 3 (28:58):
I mean you would have to take them on over
the guy who can't finish a sentence, come on, true.
Speaker 6 (29:03):
That, But does he understand what's going on the economy?
Clearly not?
Speaker 3 (29:07):
Does he? The other one doesn't understand? Jeez, honestly, Joe Biden, Hey, quickly, So,
Luxin's on his way back plane.
Speaker 6 (29:16):
Yes, well, as I understand it. It's in the air
at the moment, not flying low altitude.
Speaker 9 (29:21):
You'll be.
Speaker 6 (29:23):
Luxon. Of course, before he left, he committed New Zealand
to doing more to defend and protect the Indo Pacific region.
What New Zealand can do, though measurably, is debatable. I mean,
our armed forces aren't great. We are, though, sending a
fring it up there and to monitor any transgressions to
(29:45):
the packed against North Korea. And as they these two,
as the Prime Minister of Japan and our prime minister
were discussing things a very short distance away, a short
plane ride away of course. For that, Vladimir Putin was
was with Ken Jong.
Speaker 9 (30:01):
On and.
Speaker 6 (30:03):
Yeah, so, and they were discussing. They were discussing and
making a commitment that if one is attacked, the other
rull protect it. So you know, again, like I said,
with the most powerful men in the world, as you
just heard, you know, you wonder what the world's coming to.
Speaker 2 (30:21):
It doesn't sound good.
Speaker 3 (30:23):
Thank you very much, really appreciate it. Bary So for
senior political correspondent seven away from five.
Speaker 1 (30:28):
Putting the tough questions to the newspeakers, the mike asking breakfast.
Speaker 15 (30:32):
As we suggested the carbon auction was going to be
another bust. No bids were made. The Minister of Climate
Change Simon Watts as well as if you put uncertainty
into the market, no one turns up as that fair.
Speaker 16 (30:41):
I don't think it is fair. The reality is is
the effectiveness of the ets isn't desemined by an individual
market outcome. And what we saw yours demands wasn't meeting
the supply at the price which was in play on
the government market, and there was no participation. Those units
moved forward to the next auction. But you know these players,
if they want units, there is a secondary market and the.
Speaker 15 (31:00):
Price you're setting your main market at if you just
transfer a whole lot of unsold stuff to the next action.
The same thing's going to happen like it did last year.
Back tomorrow at six am, the Mike Hosking Breakfast with
Jenuine News talk zedby here.
Speaker 3 (31:12):
They tell the Blues coach is going to be an
invasion of red, yellow and black fans at Eden Park
and we're going to outnumber the Blue supporters just like
we did when we lifted the shield from them years ago.
Oh fighting talk from the old chiefs, and we are
going to speak to Verne Cott of the Blues head
coach in twenty minutes time, just get his take on
its full house at Eden Park, which is brilliant for
rugby and frankly rugby needed it hither. Have you got
any update on the Fiji trip with regards to the Principles,
(31:35):
because you said Simon was going to do the interview,
ash I asked Simon. Well, I didn't ask Simon because
I don't know. I got my people to ask Simon's
people if he could do the interview for Simon wasn't
into it and I can't. It's alot of men in
my life who say no to me, and Simon's just
another one. I'm just saying, Simon, you're on the list.
(31:55):
You're on the Mummy's cross at your list. Anyway, never mind,
we'll just move on from that. Have an update as
a result of Simon letting me down, but we'll find
it anyway. We'll see. Did you call Laura? Did you
call the other principle that the other principle knocked on?
I don't know if she's saying something, but she's just
shaking her head. I couldn't get through. That's because they're
in Fiji. Laura got to try the other line. Anyway, Hey,
(32:18):
I have got a yarn from you, or for you rather.
The worst recycler, probably in the entire country, in Ashburton,
of all places. This person. If you're not into recycling,
this person's attitude will give you hope. But if you
are into recycling, you are gonna hate this person. I'll
take you that yarn shortly. But next up Nikola Willis
(32:38):
the Finance Minister on that GDP figure we just got,
and then Karen Rutherford on the Missing Kid's mum releasing
that weird letter.
Speaker 17 (32:45):
News Talks by.
Speaker 1 (33:15):
The only drive show you can trust to ask the questions,
get the answers by the facts and give the analysis.
Heather due to clam drive with one New Zealand. Let's
get connected and news talk as.
Speaker 2 (33:28):
They'd be.
Speaker 3 (33:31):
Good afternoon. The economy grew zero point two percent in
the first quarter of this year, officially taking us out
of recession just but that figure has been propped up
by some massive immigration into the country. So the real
figure you need to look at, which a GDP per
capita shows it actually went backwards zero point three percent.
Nikola Willis is the Finance minister.
Speaker 18 (33:49):
Hey, Nikola, hello here.
Speaker 3 (33:52):
That number is so close to zero that I worry
it's going to get revised backwards, going to end up
in recession. What do you think the chances are?
Speaker 18 (33:59):
Yeah, look rather a positive number than a negative number.
But I would be wrong to say it's all sorted.
Clearly we have a lot of work to go. There
are going to be better times ahead for our economy.
But the numbers are telling me the same thing as
the business owners, the employers and the families are telling me,
which is it's still pretty tough out there. Inflation still
(34:19):
isn't under control, interst rates are high, and we haven't
got growth back yet. Good news is the government is
doing everything right. We are forecasting inflation to come back
and to spand that means interest rates can drop and
growth will recover. We are doing everything we can and
are better times for head.
Speaker 3 (34:39):
Do you think that we might be through the worst
of it or close to.
Speaker 18 (34:43):
I think we will feel like we're through the worst
of it when we see that first cuts to the
official cash rate. That will be the moment when people
feel some air breeze through our economy.
Speaker 3 (34:55):
I'm thinking that happens on November.
Speaker 18 (34:57):
What do you think, I'm thinking It's not my job
to predict that or to be seen to be trying
to influence the Reserve Bank governor on that. What we
obviously need to see is inflation under control. We've had
almost three years of it out of control. We are
feeling the long shadow of a government that mismanaged the
economy through fuel on the inflation fire, and we've had
(35:18):
a longer deeper inflation crisis than many other countries around
the world. Interest rates have had to go high to
sort that. Then they've now been high for a year.
That hurts. No economy can escape the pain of that,
So we are now nuttling down to do the work
to get inflation behind us, so the interest rates can
come down, the Reserve Bank can do its job there,
and then we've got to grow this joint. We've got
(35:40):
a grow this place, get productivity and investment going again.
And we're all about those things. And so we've now
got a government's on the side of business and it's
very serious about lifting opportunity through everyone.
Speaker 3 (35:52):
I know that you can't I know, you can't really
actually weigh into when the ocr cut's going to happen.
But I mean, if you look at the numbers that
we're seeing at the moment, it would be really hard
to imagine that he can keep us in this place
for a long time because things are so bad, aren't they.
Speaker 18 (36:05):
Well, it's just no doubt there's a lot of people
who are doing it tough out there. And whether it's
families with a mortgage who are watching hundreds of dollars
without their bank account into their bank's account each fortnight,
whether it's the small businesses who are feeling fewer customers
coming through the door because they're spending all that money
(36:26):
on their mortgage. Across the economy, you're seeing pain.
Speaker 19 (36:30):
To some extent.
Speaker 18 (36:31):
You could argue this is the recession that there is
a bank governor admitted he was trying to engineer. We
are seeing the inflation numbers coming down. This is the
horrible hangover after the big spending party that the last
government embacked on. It's not good, but we are doing
everything to cure it as quickly as possible so that
(36:51):
we can get on and grow.
Speaker 3 (36:52):
While I've got you, what do you know about this
complaint that was laid over the alleged manipulation of government
bonds by a bank?
Speaker 18 (36:59):
Well, is to do with any complaints about financial markets?
Fit with the Financial Markets Authority. It's the them to
comment on. It's not appropriate for me to comment on
those matters.
Speaker 3 (37:10):
They are not saying if they've taken any action? Do
you know if they have?
Speaker 18 (37:15):
They are the only ones who are to comment on
those matters. There's a very proper separation between me as
the Minister of Finance and them as the financial market's
conduct authority. So they look into those matters, they comment
on those matters. It's not for me to tell them
what to say or to comment on these is.
Speaker 3 (37:32):
Have you had a chat to them about maybe saying
a little bit more than they are.
Speaker 18 (37:37):
I haven't chatted to them. I did ask to be
updated on this matter because of course it's important to
me that New Zealand's bond markets are conducted with absolute
integrity and on the advice that I have received, I
do not think that there is any challenge with the
conduct of our bond markets.
Speaker 3 (37:53):
Good stuff, Nichola, thank you very much appreciated. It's Nichola Willis,
the Finance minister.
Speaker 2 (37:57):
Held to see Allen.
Speaker 3 (37:58):
The mother of the missing Matter Corporate children, has broken
her silence for a second time this week, sharing a
letter on social media that she says was written to
her by the father, Tom Phillips. Now, she says the letter,
which professes his love for her, shows quote that all
is not as it seems now. Karen Rutherford is a
Newshart reporter who's been closely following the story and is
with us. Now, Hey, Karen, hi, Heather, do any idea
(38:20):
why this woman's made this public?
Speaker 19 (38:23):
Well, this is a private letter between two people and
it is interesting timing. On Tuesday night, obviously, the police
issued a video of Cat speaking and pleading with the
public of New Zealand to help, and then she releases
a letter which she says is from the children's father,
Tom Phillips. Now I have spoken to police. They don't
(38:45):
believe this is a recent letter and they also don't
feel it is relevant to the current investigation. This is
in the past. It's a custody issue between two people
and that's how it all started out. Sadly, it's become
a very public case here there, obviously because Tom Phillips
is accused of criminal intent with the alleged bank robbery
(39:07):
of the Tiquity A and Z as well as the
pup's superer, and he's also allegedly holding these children back
from health care and education. So that's you know, we're
also taxpayers and we're spending a lot of money on
a massive man hunt. So it becomes a matter of
public interests. But potentially this is a private matter, and
this is a woman who's choosing to share her dirty laundry.
Speaker 3 (39:31):
I suppose why did she lose custody of the kids.
Speaker 19 (39:35):
Look, there are issues on both sides, and I'm not
really able to go into that. We've chosen as a
news have not to go into the background because, as
I say, it is a private family thing. It only
becomes relevant when you know, search and rescue operations involve
people from all over the North Island, and criminal intent
becomes involved. So it let's to say she had no custody,
(39:59):
but Tom lost his custody when he took the children
for a second time, So faults on both sides. It's
about no one's squeaky clean here.
Speaker 3 (40:08):
Now, I can I get that impression there are about
five days or something like that to get information through
to the cops. Do you think the cops do you
get the impression that they're closing in on him.
Speaker 19 (40:19):
They made their strongest comment yet on Friday to us
in our story where they are detectiments acting detectments meant
that Andy Saulders said, look, you know, we are working
with the family on both sides, but there are wider
family and associates who are not forthright in their information.
And it was the strongest indication yet that they have
(40:41):
a net. They know who they're looking for, and they
know who they're targeting with this eighty thousand dollars award.
They are hoping that someone in that wider circle will cave,
and they know exactly who those people are. So yes,
I believe the net is closing, whether or not they
will have success.
Speaker 20 (40:57):
Before the five.
Speaker 19 (40:58):
Days runs out, they may well find that the reward
closes off and they still haven't got what they need,
but they will have information in hand.
Speaker 3 (41:05):
Karen, thank you so much. Really appreciate your time. Karen Rutherford,
News Hub Reporter. Let's deal with the blues next. We'll
talk to the head coach quarter past. Hey, are you
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Speaker 2 (42:01):
Auckland Heather du for Seller coming up.
Speaker 3 (42:04):
Nineteen past five. Now we got to deal with the rugby.
If you were hoping to get yourself to Eden Park
for the Super Rugby Final this week, and you're out
of luck because the sold out signs are up. If
the Blues win, it will be their first proper Super
Rugby title since two thousand and three. But you can't
underestimate the Chiefs. They've already knocked over the top seeded Hurricanes.
Verncotta is the Blues head coach.
Speaker 20 (42:22):
Hey Vern, Hi, Heather, how are you?
Speaker 3 (42:24):
I'm okay. You nervous?
Speaker 9 (42:27):
Yeah, a little bit. You have to be.
Speaker 20 (42:28):
It keeps you on edge. So yeah, there's a little
bit of that there.
Speaker 3 (42:32):
Are you worried because of that performance that the Chiefs
put in last weekend?
Speaker 20 (42:37):
Yeah, I'm not worried. I'm probably more confident than I
am worried. I'm nervous because we want to do well.
And I think that's the key driver on this. All
the boys care about what they do. They love the jersey,
they love the club and they want to play well
for each other and for the people to support them.
So worried and the sense that we're wearin.
Speaker 9 (42:58):
We're prepared.
Speaker 20 (43:00):
Because we're seeing what the Chiefs have done in the
last couple of weeks, so we know it's a final
and finals have played with utmost intensity and desire. So
we've locked at in and the boys have trained well
at the beginning of the week and you know, hopefully
for the game will well, it won't go all the
way we want, but hopefully we can dominate enough to
(43:21):
come away with a win.
Speaker 3 (43:22):
Do you reckon you're going to have the majority of
the people in the stands wearing blue?
Speaker 5 (43:26):
Yeah?
Speaker 20 (43:27):
I think so. I hope so, And you know, at
the end of the game, hopefully if they're wearing something else,
I put blue on.
Speaker 3 (43:35):
What do you reckon about, like the fact that you're
playing at Eden Park? Is that pressure because it's Eden Park?
Or is it actually helpful because it is You're in Auckland,
You're it's a home home crowd.
Speaker 21 (43:47):
Yeah.
Speaker 20 (43:47):
I think there's the comfort of having the home crowd,
but also the home field and the familiarity around walking
in the chain shed and and I think it's a
great thing. But you know, the game is a game,
and it's a making uncertain and complex affair. So just
being able to adapt, having that comfort coming in, but
making sure that when we hit the track, we're going
to have to be ready for anything. Yeah.
Speaker 3 (44:08):
There was an opinion piece last week. I think it
was gregle Paul who wrote it, who said that you
guys have to win for the sake of the game
in Auckland and therefore in the country, what do you reckon?
Speaker 20 (44:18):
We went for a self fest and that's the players.
They know the history. But it's not about weighing yourself
down with too much pressure. Are those you won't be
able to play? Take the right off? You shoulders think
about the performance, Think about a game. Think how you
can beat your best with your teammates for eighty minutes
and the rest will take care of itself.
Speaker 3 (44:36):
Hey, isn't it nice that we're going to have a
different champion from the Crusaders for the first time since
twenty sixteen.
Speaker 9 (44:42):
Yeah, yeah, I guess so.
Speaker 20 (44:46):
I don't really think too much about that either we're
worried about the Chiefs, but we're not really into philosophical thoughts.
We know that the Chiefs are a tough opponent and
we'll have to be at our best.
Speaker 3 (44:56):
Good stuff and best of like vern Kotta Blues head coach. Right,
let's deal with the shambles that is Wellington City Council.
Next five twenty two.
Speaker 1 (45:04):
The name you trust to get the answers you need,
Heather Dup to see Allen drive with one New Zealand.
Speaker 2 (45:10):
Let's get connected and news talk as they'd be.
Speaker 3 (45:13):
Heather, when are you interviewing the Chiefs, coach? Or have
I missed that? Dave? You haven't missed that. We're doing
that tomorrow. Stay tuned. It's just stay tune all the
way through until then and you'll hear at five twenty four. Now,
the shenanigans at Wellington City Council have now got so
bad that the local government ministers had to pipe up
and get involved in this. This is the thing I've
been telling you about in the last few days. The
CEO at Wellington City Council decided she was god at
(45:34):
Babs Babs macarro and she decided to withhold information from
elected councils, and Simon Brown said he's quote appalled, and
then he said, quote the CEO is acting like a
politician when she should be acting like the CEO. Now
the CEO has withdrawn her decision and elected councilors are
able to get all the information they want, which is
(45:55):
exactly proper because hello democracy, now, come on, we are
way part us the point where the Minister could have
called the commissioners in on this lot, or at at
the very least called in a Crown monitor, because this
council is running the place into the ground. But I'll
tell you what, Simme and Brown, I Reckon is not
going to call in an intervention because it's too high
risk for him. I mean, I can understand exactly why
(46:17):
he wouldn't want to write to anyone not closely following
what's going on with Wellington City Council. If he calls
in an intervention, it's just going to look like the
National Party guy shutting down the country's only green mayor
and shutting down the country's most left leaning council. It'll
just become straight politics for most people. That council and
Tory Farno are the poster to children of the Left
and Tory, don't forget, has actually publicly made an enemy
(46:40):
of Simmy and Brown even before the Nats got elected.
She called him out personally. So it's way too high risk.
Means he needs to tread really carefully. Plus, if the
commissioners prove unpopular, which they sometimes do, just look at Torunger.
He will be the one that's blamed for it. But
more importantly, why stop them? Tory and her mates on
Wellington City Council are doing so much damaged the perception
(47:02):
of whether the Green Party can run anything. How many
of us around the country are sitting in our various
parts of the world looking down at Wellington and going whoop.
There's a big old lesson in electing people who've got
some nice ideas because they care about the climate, et cetera,
but they have absolutely no idea. This is in fact
so bad for the Green Party what's going on in
(47:22):
Wellington that even members of the Green Party are trying
to cut Tory Faro loose because that want to be
tainted by this nonsense. So why would Simeon Brown intervene
on that? As they say, never stop your enemy when
they're making a mistake.
Speaker 2 (47:36):
Ever du for see Ellen Simeon is in.
Speaker 3 (47:38):
Fact with us just after the headlines, will be with
us in about twelve minutes time. We'll ask him about
that now and listen to the interview because I guarantee
you I'm going to press him on whether he'll call
the intervention, and I'll bet you at no point will
he say he will, So just have a listen. Anyway, Listen,
I was telling you, I reckon, we might have found
the worst recycler in the country. It's a household in Ashburton.
Get a load of this. Okay, This lot have apparently
(48:01):
been using the yellow recycling bin as the rubbish bin
right they were doing it. The council was doing an audit.
They found these guys were doing it for two weeks,
so the council confiscated the yellow recycling bin. This family
just get themselves another one nick week there's another yellow
recycling bin who knows, But not only that, while they're
at it, they go and get themselves another two extra
(48:21):
red rubbish bins. So now they've got one yellow recycling
bin and three red rubbish bins out on for Coopcibe collection,
all at the same time. So the council confiscates the
two red rubbish bins, so they're just back to the original.
They go to the resident, want to talk to the resident,
what's up. The resident was quote extremely abusive to the
audit team and collection contractor. The contractor decided that the
(48:42):
usual education approach for incorrect recycling practices was unachievable, so
they basically just left them to it. And now when
the rubbish trucks come past, they treat all bins put
out by that house as rubbish bins, not recycling bins.
The incident was at the extreme worst end of the scale.
Headline's next.
Speaker 1 (49:00):
On your smart speaker, on the iHeart app and in
your car on your drive home, Heather due to see
allan drive with one New Zealand let's get connected and.
Speaker 2 (49:09):
News talk as they'd be now.
Speaker 3 (49:13):
Bankcard not the hul fanning by Mark Sainsbury. David Barrow
with us this evening. I am well into what Chris
penk is doing at the moment. He is the Minister
for Building and Construction taking another look at whether we
need to change the way we're managing those earthquake prone buildings,
whether we need to free up the legislation and the regulation.
I mean, obviously we do. Come on look around Wellington.
How many buildings are sitting there empty. It's completely stuffed
(49:36):
the place up. I mean, between that and what else
is going on with the council, it's complete shambles here.
The why would that council in Ashburton just let people
dump their rubbish anyway? Such a good question, because that's
the moral of the story. The moral of the story
is that the worst recycler in New Zealand gets away
with it, and what does the council do? Like they win.
The recycler wins because the council goes, oh, there's nothing
(49:58):
we can do about it. Therefore, every single they've got
outside their house as a red bin, it's a rubbish bin.
Now they've got two rubbish bins. I want two rubbish bins.
I want two rubbish bins instead of one rubbish bin
and a recycling bin. But I don't think I'm going
to get away with it because I don't live in Ashburden.
I live in Auckland. But that's the moral of the story.
Behave badly enough and they just give up. That's not
(50:18):
very good. It's not a good example. Twenty three away
from six ever do for see Ellen's Wellington council boss
Barbara mccero has come under fire for threatening to withhold
information from elected counselors. Now after media coverage, she withdrew
the threat quite rightly. Simeon Brown is the Local Government Minister. Hi, Simeon,
good evening. I mean, this is in the territory now
(50:39):
where you could really call in the commissioners or a
Crown monitor, couldn't you.
Speaker 22 (50:44):
Well, we've made our views very clear that they need
to look at their policy. They've said they will. We're
keeping a very close eye on this issue and my
expectation is that councilors in Wellington have provided the information
they need going into making a decision on the LTP.
Speaker 3 (50:58):
I read in one of the local papers today that
if Wellington It's been said that if Wellington City Council
cannot pass its long term plan then ministers will consider intervention.
Speaker 22 (51:08):
Will you Well, that is obviously a significant issue if
they can't pass their long term plan. But the point
that I've been making in terms of this issue is
that the CEO of the council needs to realize that
she is not elected and that the councilors and the
mayor is, and that she needs to make sure they
have all of the information needed so that they can
(51:29):
make the decision they need to make on their long
term plan. That is of critical importance to democracy in
New Zealand and CEOs of councils should not be acting
in this way.
Speaker 3 (51:38):
Do you believe that this is a widespread problem wider
than just Wellington where you have we had these unelected
officials who think they're the real boss.
Speaker 22 (51:45):
I am concerned about this issue in terms of some
of the issues I've seen raised by some councilors across
the country, in terms of where there's been lack of
information provided or in some cases decisions made, who prevent
members councilors from actually voting on particular issues because they
(52:06):
management or may forward the view that they've got a
predetermined view. I think this is an issue that needs
a wider look at, and I've asked officials to do.
Speaker 20 (52:13):
That because my view is very clear.
Speaker 22 (52:16):
Elected members are elected by the public to make decisions
and the council staff are not. They are public servants.
They are there to serve the elected members and am
sure they have the information needed to make decisions.
Speaker 3 (52:30):
Listen to me and just back to Wellington. Okay. I
can understand why you might not want to get yourself
involved in something like this, because you're just going to
get yourself self involved in trouble if you call intervention in.
But do you not need to think about Wellington because
it is I mean as being run into the ground
by these people.
Speaker 22 (52:47):
Well I think about Wellington from a lot. I spend
a lot of my time in.
Speaker 3 (52:53):
What's it going to take to call in some outside
help because these people are not up to it.
Speaker 22 (52:57):
Well, look, I guess the point i'd make is we're
keeping a very close eye on this issue. In terms
of this, I have written to the council and there
was willing in city Council in the past in terms
of the issue around there what infrastructure, so there has
been I have used those powers in the past. I
would just make the point though, there's there's a process
(53:18):
that is underway in terms of the long term plan,
and in terms of that process, the councilors are elected,
the mayor is elected to make decisions and they need
to go through that process. And in the meantime, the
council staff need to ensure that the councilors have all
of the information that I need to have to make
those decisions. They are elected to make those decisions. They
(53:38):
have the democratic right to make those decisions. And the mayor,
the council chief executive needs to realize she is not elected.
Speaker 3 (53:44):
Yeah too, right now, listen, quick word is your energy
hat on on the power outage in Northland? How can
we have one transmission tower falling over and then it
cuts power to the whole region.
Speaker 22 (53:54):
Oh look, it's It's obviously incredibly concerning for Northland. I've
been in touch with Transpower a couple of occasions. This afternoon.
There's going to be a full investigation as to what
happened here. The priority at the moment is restoring the
power to Northland. There is another transmission line going up
obviously won't be able to carry enough load for Northland.
(54:14):
So tonight there'll be about two thirds of power restored
and they are working to have power restored at the
earliest fully by tomorrow night.
Speaker 3 (54:24):
Sime, and thank you so much, really appreciate time as always.
Simm And Brown, local government minister, also the Energy Minister.
What did I tell you not going to call an
intervention in court? It nineteen to.
Speaker 1 (54:34):
Six the huddle with New Zealand Southerby's International Realty exceptional
marketing for every property.
Speaker 3 (54:41):
Right on the huddle with me this evening I got
David Farah and Mark Sainsbury.
Speaker 5 (54:44):
Are you two Hello?
Speaker 9 (54:46):
There you have it.
Speaker 3 (54:46):
We're going to come back to Wellington City Council because
unfortunately both of you have a vested interest in that.
First though, David on the GDP figure, what do you
make of that?
Speaker 20 (54:55):
Well, it's a small relief.
Speaker 5 (54:57):
There is not negative, that's what people were at expecting.
But it's pretty anemic and it just shows you they're
commonly still in a weak stake and that's why things
need to change. If we didn't have such big immigration
growth coming in, we wouldn't have had positive GDP.
Speaker 3 (55:15):
Yeah, are you seeing it? Saying so, I'm seeing it
when I walk around Auckland, I'm seeing the shops that
are closed and the people who are having a half
hard time. Is the same in Wellington.
Speaker 22 (55:23):
Yeah, and people just start to mean people aren't spending.
That's part of the part of the problem.
Speaker 9 (55:28):
You know, government starts spending.
Speaker 22 (55:30):
Businesses are spending, consumers aren't spending.
Speaker 9 (55:33):
You know, where's it all going?
Speaker 20 (55:34):
There is that sense of God help us.
Speaker 22 (55:36):
When is it going to get better? You know it's
too late to move to os.
Speaker 3 (55:39):
Yeah, what too late in life? Saying so, saying are
you striking as a risk taker?
Speaker 22 (55:47):
Oh yes, yeah, yeah, yeah, yeah, but it's look, it's
just frustration. It's like and Wellington getting back later. But
it's just you know, every day is like another problem.
You know, it gets that point you just think I
don't care anymore.
Speaker 3 (56:00):
You know, too much, it is a little. It does
weigh you down. David, I reckon, I just reckon. It's
too dark to leave us here with the ocr where
it is for too much longer. I reckon. They cut
in November, what do you think, Well, it.
Speaker 5 (56:14):
Would be nice if they did, but the last lot
of inflation results you had, non tradable inflation are still
at nearly six percent annually. Yeah, and you just can't
do that. This is the problem. Even though there are
signs where their companies doing okay. People paying mortgages have
(56:34):
had interest rates double, and some people haven't even had
that hit yet because they're fixed term. Yeah, in interest
rates aren't going to drop, you know, maybe November maybe fedry,
but even then, so until those interest rates drop, we
probably can't expect there's gonna be a lot of money
for investing. And that is the whole point. This is
why you don't want high inflation in the first place,
(56:57):
because the solution is nasty.
Speaker 3 (56:59):
Yeah, it would have been nice. I have maybe like
Adrian had read that. But in his manual when he
let inflation get to this point? Oh was it not?
Was it not drawn with pictures of trees and stuff
like that? You wouldn't have got many of the picture book. Hey,
what do you make saying zo of those climate change
protesters who went and tagged Stonehenge, did they go to
Father's time?
Speaker 9 (57:20):
Look?
Speaker 22 (57:20):
I mean you sort of thing, what is too far
with anything? I mean my sort of thing is you
shouldn't be hurting people. But then what is everything then
fair game? And you know where do you draw the line?
The thing I get with that really weren't be over
the Stonehenge. It's such a significant historical sight and now
trying to make their I mean, the one I did
enjoy was the people who.
Speaker 9 (57:41):
Put the cartoon faces over.
Speaker 22 (57:43):
Prince Charles's portrait at the other day, because I had
a perspect screen on it.
Speaker 9 (57:47):
So they made their.
Speaker 22 (57:49):
Point, and it was cleaned up a moment after.
Speaker 20 (57:52):
But yeah, there is a problem and it.
Speaker 22 (57:54):
Becomes negative at some point you end up just getting
on everyone's.
Speaker 3 (58:00):
Yeah, and yet you know what I think, David I
Reckon says, I was on to something. I reckon. These
guys are just so irritating. You're not listening to their
message anymore. You're just like, do you just think that dicks?
Speaker 5 (58:10):
Look, there was an they are There was an interesting
interview where someone tried to adjume that actually go and
talk to them. And the people involved in this just
want to irritate people. They believe in all, not just this,
cause they're involved in all the causes, and they're about
protests for the sake of protests. They're not actually about
(58:33):
making change. You know, did you really think the UK
government going to suddenly announce zero by two thousand futy
because you stray painted on stone Hinge.
Speaker 2 (58:43):
No.
Speaker 5 (58:44):
The nice thing about this, and I could say that
though Stonehenges appears has its own Twitter account and it
actually responded to the protests by saying the paint doesn't
necessarily come out, and you've broken the law and you're
all go to jail for a long time. Treasure.
Speaker 3 (59:03):
Yes, good I like that. That's a bit of a set.
Speaker 22 (59:05):
Did you see the age of them have it?
Speaker 21 (59:07):
Yeah?
Speaker 3 (59:07):
They were ancient, they should know better.
Speaker 22 (59:09):
No, no, No, one was twenty one and the other
was seventy three.
Speaker 3 (59:12):
Oh yeah, well.
Speaker 2 (59:13):
What does that tell you?
Speaker 3 (59:14):
A Saints? Ooh, you're stupid at both.
Speaker 22 (59:16):
It's a broad spect.
Speaker 3 (59:19):
That's right. All right, we'll take a break with you
to come back and talk about Wellington City Council. It's
fourteen away from six the.
Speaker 1 (59:25):
Huddle with New Zealand Southby's International Realty exceptional marketing for
every property.
Speaker 3 (59:31):
Back with the Huddle, Mark Sainsbury, David Farrer, Mark, what
do you reckon? Is it time for Wellington City Council
to have the big boys called in on them and
the grown ups take over?
Speaker 22 (59:40):
No? No, I mean look, I think it's getting fast
towards that. But it's a pretty huge thing to dump
for council. It's got to be, you know, and I
think I think you were said pretty right earlier on
you know what the result would be politically, You'd probably
end up as a loser for them. There's a huge
frustration in Wellington at the moment. I've got a lot
(01:00:02):
of friends in the hospitality sector and they're just I mean,
they're just weaking. You know, it is just And because
he doesn't appear to be any sort of cohesive plan,
I know that. And this is the big next thing
is going to be the big three year plan. It's
supposed to be getting signed off and all the supports
crumbling and yeah, I mean I can see where you're
coming from, either, what are you regal?
Speaker 3 (01:00:24):
Yeah, look, I agree. I obviously agree with Mark on
this one, David that it is very high risk stuff
for the minister to do it. But are we at
that point yet or do we only get to the
point if they can't pass the plan?
Speaker 5 (01:00:36):
Yeah, I think that's the sort of thing that triggers
an intervenure. Just making bad decisions and being led round
by the CEO and not being unified isn't actually enough.
It's called democracy. You get what you're voted for. Wellingtonian's
had three choices from here at the last election. They
had lots of candidates to choose for the awards and
(01:00:57):
the result is what we've got to view. It's not
all the counselors. There is obviously a cultural problem at
the council where the sea is trying to hide information
or restrict it to the council and that's not just
unique to Wellington. So I actually do think the government
does need to move that regard and make it very
(01:01:19):
clear that seeds can't tell counselors.
Speaker 3 (01:01:23):
No, yeah, absolutely, yeah.
Speaker 22 (01:01:26):
I was going to say part of the whole breakdown
too was and sad because Ben McNulty I was on
Nick Mills with them last week and he was telling
us about how, you know, during the discussions and the
pressure was coming on them, the sort of you know,
the share sale, this top lawyer was brought and who
basically told them that all be financially liable if they
don't vote for it, and the councilor's box go, you.
Speaker 3 (01:01:49):
Know, and the top lawyer was paid for by.
Speaker 22 (01:01:52):
Whom I presend have been paid for by the.
Speaker 3 (01:01:56):
Council staff, trying to heavy the elected counselors again.
Speaker 22 (01:01:59):
Right, yeah, they were really dirty honesty tried to get
a copy of it and you know, yeah.
Speaker 3 (01:02:07):
No, the whole thing sounds like an absolute disaster. Saying
so Toma Portucker, who is the Conservation Minister, says we're
not going to be able to save every species. Were
basically because it's going to just cost too much money
and we need to decide where we want to put
our attention.
Speaker 22 (01:02:17):
Is he right, Well, that's what they're doing at the moment.
Speaker 9 (01:02:21):
I mean it was interesting.
Speaker 22 (01:02:22):
I went back and had a look at that that,
you know, the report that did to the un on
extinct So there was another report out last year which
said that stats have to do the extinctions threatened the
case it we'd said seventy five percent of indigenous reptile birds, bats,
and fresh water pressure at risk. Look, we know you
cannot save everything. I mean, that's that goes with that saying.
But I think that's what they do.
Speaker 2 (01:02:42):
At the moment.
Speaker 22 (01:02:43):
I think they've got about a four hundred and six
particularly endangered species that they concentrate on. Yeah, but you know,
you get onto the saying, oh they're stopping on motorway
because there's a couple of snails in the way and
this sort of thing. You know, that sort of plays
into the Shane Jones handbook. But we do have to
protect our environment and this is our our you know,
(01:03:04):
this is our tingure and we need to we need
to protect it. So, yeah, it's a bit.
Speaker 9 (01:03:07):
Of a worry where the.
Speaker 22 (01:03:08):
Budget cuts for dot but then so they are for
ever everyone else.
Speaker 3 (01:03:12):
Yeah, I mean, David, people are getting really upset about
that about his comment, But his comment is just that
is the reality of the situation, isn't it.
Speaker 5 (01:03:19):
Everything has a cost benefit analysis to it. Otherwise speed
limits would be ten kilometers per hour. Houses would cost
me well even more than they cost to world, like
five million dollars to have the best safety standard. We
actually have eighty thousand species in New Zealand. Biodiversity is important.
(01:03:41):
I think it should be a priority, especially with birds
and animals, but it's just common sense. You can't guarantee
that every species will be saved for all time because
that's not actually how the world works for us.
Speaker 3 (01:03:58):
That's true. Actually, hey guys, it's always a pleasure to
talk to the pair of you. Thank you so much
and best of luck with your counsel. David Farreh and
Mark Sainsbury seven away from six, on.
Speaker 1 (01:04:07):
Your smart speaker, on the iHeart app and in your
car on.
Speaker 2 (01:04:10):
Your drive home.
Speaker 1 (01:04:11):
Heather Duplicy allan drive with one New Zealand one Giant
Leap for Business News Talk SEBB.
Speaker 3 (01:04:18):
Four away from six. Heather, regarding the rubbish bins When
I lived in London. I was a little bit naughty
one week and we put a bunch of old bricks
into the bin, like twenty of them, and when it
was emptied into the truck it made a huge noise
and the driver shouted general curses into the neighborhood air.
He didn't pick up our rubbish for two months, which
was four empties. Must have been fortnightly. Wife was rather cross.
(01:04:38):
Never did it again, and maybe Ashburton should follow that
operational guidance. This is the thing about that Andy though.
I feel like Ashburton took an assessment of old mate
who was running all the bins, and just thought, if
we don't pick up this guy's trash, isn't gonna dumput
on the side of the road, Like he's gonna be
one of those guys, do you know what I mean? So,
I mean this is like, this is like a handbook
for the rest of us. Right, if you don't want
(01:04:58):
to do the recycling, you've just got to go. So
you've got to really lean into being really bad, like
really bad, because then they'll pack up your rubbish. But
if you're just sort of like slightly bad, they're gonna
they're not gonna get involved in it. Listen, there is
a little bit of an update on just a little
bit more to know about the Wellington situation.
Speaker 5 (01:05:15):
Now.
Speaker 3 (01:05:16):
The thing that Sammon Brown is quite concerned about is
the possibility, which is what we were just talking to
the huddle about the possibility that Wellington City Council is
not going to be able to pass its next budget.
They can only pass the next budget if they sell
the airport shares, because that is how short they are
on money. Now twisting this, apparently the Regional Council is
considering buying the shares in the airport that Wellington City
(01:05:39):
Council wants to share, wants to sell to help Wellington
City Council. They had a meeting about it. They looked
at the options. They're going to look at the options.
It's a little contentious though, because apparently the councilors on
the Regional Council are not keen right. One said they're
not allowed to speak about it. They're gagged. Another said
they believe the idea was cooked up as a bid
(01:05:59):
to soothe tensions on the left. Now they have to
be really careful here the Regional Council because the Wellington
City Council is already a shambles. It is not the
place of the regional Council to bail out the city
Council by buying shares that they're trying to offload. The
only time you buy those shares is if it's in
your rate payers best interrists. If it's not in your
ratepayers best interests, don't buy them because otherwise you're just
(01:06:20):
doing that for political reasons, just to help the Left
from soiling itself, and that's not you do not spend
how much two hundred and seventy eight million dollars on
that Chris pink nets.
Speaker 1 (01:06:33):
We're business inside the business hour, we'd hinder due to
clan and my hr on News.
Speaker 3 (01:06:40):
B even in coming up to the next hour, we're
halfway through the years of Sam Dickie's going to look
at the investing environment for the second half compared to
what we've already been through in the first half. Jamie
McKay on why the rural contractors hate those median barriers
and Liam dan on the GDP print seven past six.
Now the government has launched a review into how we
manage it earthquake prone buildings, the NBS system we currently
(01:07:03):
use as run into controversy in recent years. For example,
you may remember when a block at Hut Hospital was
found a couple of years ago to be earthquake prone,
so all the patients had to move out, and then
it was apparently just the cladding panels that were earthquake prone,
and then it turned out that even the panels were
probably fine, and the patient's wall allowed to move back in.
Chris pink is the Minister for Building and Construction and
joins us. Now, hey, Chris Braving, The fact that you're
(01:07:25):
doing this review says to me that you think the
law is too onerous? Is that fair?
Speaker 23 (01:07:30):
Short answer? Yes, people have told us it's unworkable. A
lot of cases people simply can't afford to remediate, but
not necessarily allowed to do that in the way that
they want or need. Sometimes they can't even demolish if
there's a heritage status so complicated such a situation needs
to changeing we're keen to make it easier for people.
Speaker 3 (01:07:49):
Is it I mean, is it too complicated, too inflexible,
or is it too onerous or is it both?
Speaker 9 (01:07:56):
Yeah, look it might be both.
Speaker 23 (01:07:57):
I think the complicated nature of it is a major
piece of weak that we need to attack. You referred
to that situation of uncertainty with the City Hospital. Lots
of other I get playing out all around New Zealand,
and that's when you've got a bit of a dispute
or misunderstanding about where things lie. But even just on
the terms of the current measurance system, you've got a
(01:08:20):
percentage and it's something like seven percent. You know, it's
just barely on that top third. But then you've got
people who say, well, that's not good enough for us
to do because they're nervous about health and safety. What
does that mean to their liability? And you've got other
ones which might be say thirty five and that's it's
above the line and actually it's authentibly okay, but doesn't
sound too flesh. So we maybe need a bit of
(01:08:41):
a cleaner, more straightforward system. So we're seeing if we
can come up with something it's a bit more spacefuld
for people to grapple with.
Speaker 3 (01:08:47):
Okay, something straightforward, but also would you consider lowering the
standard of weabers?
Speaker 23 (01:08:54):
Yeah, well, I think what we've got to approach is
the question from a cost being a foot ratio perspective,
which I know will sound challenging for people who ask
whether we're going to make it less safe, But I
think at the moment we've got a scenario where we're
very cautious, very conservative, and while we all love that idea,
(01:09:14):
and the reality is what we're probably doing is protecting
against buildings from being damaged, we need to protect against
lives being lost. But below that we've got to accept that,
you know, unless we want to pay you know, the
million dollar per life saved or per building saved, then
it's simply not stacking up, you know, I have to
think about other things that we could spend that money
on and save more lives. So just a Narali conversation
(01:09:34):
that we've got to have. But the review set up
to take into account everyone's views who wants to contribute,
you know, along those lines, as well as getting into
that detail around the technical stuff too.
Speaker 3 (01:09:43):
Do you think, just like on another note, but related,
do you think that you need to do something about
the empty buildings that are sitting around places like Wellington
basically abandoned because the owners just can't be faft doing
the earthquake strengthening.
Speaker 23 (01:09:56):
Yeah, I think it's a very fair question. There's an
earthquake pro and element So that is also brought a
question about you know, we're heavy handed if people leave
buildings derialic because they can't be bothered sometimes overseas owners,
but not necessarily. So that's all going to be within
the scope of the review. So we're quite ambitious in
terms of asking all those kind of hard questions. So
(01:10:19):
we'll see what the review comes up with, but hopefully
we can come up with something sensible because you know,
the whole city and the whole community and the whole
provincial town, as the case may be deserved other than
just to have these derelict buildings and empty lots and
partmenting us. You know, an I saw in a danger
in themselves best. The irony, of course is that you
have heritage protection, end up with something that you can't
do anything with and it ends up becoming quite an
(01:10:42):
I saw in the opposite of what we're trying to
achieve with them A very good.
Speaker 3 (01:10:44):
Point, actually, Chris, thank you very much. Chris Pink, Minister
for Building and Construction in case in point. Just what
Chris was talking about was that building I forget the
name of it on Welling in Wellington. That's next to
the Old Ama Hotel where the reason that that is
shut is because it's earthquake prone. So what happened? Some
homeless guy makes his way and falls down three flights
of stairs and gets hurt. So even the fact that
(01:11:05):
it's just sitting there abandoned is now a dangerous thing
as well. Heither if they are spending such significant money
and resources trying to find this guy, this is the
mater Corpa dad, and they genuinely have concerns for the
children's welfare, why don't they stop mucking around and make
the reward an irresistible amount of money, for example a
million bucks. That's not a bad point because the amount
of money, so that the reward is eighty thousand, But
the amount of money that they will be spending on
(01:11:27):
the police resources right the coppers being there instead of
doing all the other things that they could be doing
and should be doing, will be reasonably significant and probably
into the several hundreds of thousands of dollars. So if
not the millions, so fairpoint, why not just put in
a whole lot of cash and get the goods now
that stuff in investigation into the Chinese interference in our
(01:11:47):
democracy has named another Chinese National Party NBA MP is
being potentially problematic. It's the first terminalist MP Nancy Lou.
Now what's gone on with this is that I think
we've all sort of talked around this for a long time,
but finally we are now at the point where we
are calling Jiang Yang the former National MP and alleged
(01:12:11):
Chinese spy. So we're just saying it out loud. Okay,
So these guys have already fingered this is the stuff.
Investigation have already fingered him as an alleged form as
an alleged Chinese spy. They've gone back through some old
interviews that he did. They found an interview that he
did back in twenty twenty with the Chinese language media
outlet PANNEDA TV thirty seven and Nancy Lou not yet
a National MP, just a civilian at that point. Nancy
(01:12:33):
Lou was with him in the studio and he says
he had trained Nancy to stand for the National Party
for a long time and he had kept its secret
from his colleagues. And he says Nancy has taken over
from me, which begs the question how like how taken over?
For like how much? All the jobs or just the
(01:12:56):
MP Jobs thirteen plus.
Speaker 2 (01:12:58):
Six, crunching the numbers and getting the results.
Speaker 1 (01:13:01):
It's Heather Duplicy Allen with the Business Hours thanks to
my HR, the HR platform.
Speaker 2 (01:13:07):
For SME on US talks EDB. If it's to do
with money, it matters to you.
Speaker 1 (01:13:12):
The Business Hour with Heather Duplicy Allen and my HR
the HR platform for SME US talks EDB.
Speaker 3 (01:13:19):
Jamie McKay's with us in a ticket sixteen past six.
We've broken out of recession officially. How good is that?
But it's margin of era stuff. The economy grew zero
point two percent in Q one. That's the upper end
of expectations. Liam Dan's, the Herald's Business editor at large
and with us Liam.
Speaker 9 (01:13:32):
Hello, good.
Speaker 3 (01:13:34):
I Heather got to take a win when we get one, right.
Speaker 20 (01:13:37):
I guess Look, I'm pretty downbeat about it. I think
it's all about per capita, really, isn't it, in terms
of how people are feeling on the ground. I basically
don't want to be the guy shouting about, oh, it's
all over when we know that it's not all over
and that the next few months are going to be
pretty tough. To me, it's really all about when those
(01:13:59):
interestrates coming down, So you know, we could talk about
February or May or September if you're the Reserve bank.
But I think the idea of a downturn we're still
very much in it.
Speaker 3 (01:14:11):
Yeah, I mean, I was, I was saying earlier, and
I still think that whether they're going to move in
November because of just how stuffed we are. But I mean,
as somebody pointed out before, the inflation doesn't warrant that.
Speaker 20 (01:14:20):
Does it. It doesn't warrant in terms of yeah, well November. No,
it doesn't yet. I mean, look, it could you could
be quite right, and I hope you are that that
because it's so bad, particularly in that services sector. We're
seeing that coming off a bit of a cliff, and
you know that that end of the economy that's you
know that we really feel is where all that non
(01:14:41):
tradable inflation was so. Non tradable inflation is sticky. It's
something like five point eight percent, and tradeable, which is
imported food and oil and stuff, is down one point
six or something very low. The non tradable is the
bad stuff. We know that people are afraid that it
will stick there and will be But actually if the
economy really tanks and you know in those areas that
(01:15:02):
we saw today under the hood on the GDP, it
could come away quite fast. So yeah, you're right. There's
a few economists Tony Alexander and Kiwi Bank who still think,
and some of the international ones capital economics and things
still think November as possible. It confuses that having that
zero point to growth. In some ways, it would have
been cleaner if we'd actually gone, oh, it's really really terrible.
(01:15:25):
The top line still down, we're still in recession.
Speaker 3 (01:15:27):
But hey, how many more inflation numbers do we get
before November? We've got one in October, don't.
Speaker 20 (01:15:32):
We that's a good question. We must have two more,
I think, yeah.
Speaker 3 (01:15:37):
Two more for it to come back and then and
convince Adrian.
Speaker 20 (01:15:41):
Yeah, and as you know, we don't get we don't
get the data quickly enough to really really give them
much opportunity to turn around. They'll be nervous because you know,
we can't control that tradeable So if you'll see in
the UK that they've got the CPI inflation down around
two percent and they're still not coming because they're not
tradeable inflation is up around you know, five point eight
(01:16:03):
six percent or something and that's the bit that reserve
bank central banks can control. And so if you've got
that up high and then you have an oil shock
or something like that, then you're back into the horrible
stagulation and everything. So you know, I understand why they're nervous.
We want to see it, you know, squashed and killed off. Yeah,
November hope, soy.
Speaker 3 (01:16:23):
Yeahs fingers cross, let's go for that, Liam, Thank you
so much. Liam Dan the Herald's Business editor are large here.
As I've said before, you should be born in New
Zealand to become a member of parliament. That's from Paul.
There are countries that do that, and you can see
why there are countries that do that, right, because then
you don't have the old problem where you've got people
being accused of being Chinese spies. But that's probably not
(01:16:45):
workable in New Zealand because I think I don't know
what the number is now, but the number of people
living in this country who are migrants is enormous. It'd
be well over twenty percent, if it's not even higher
than that. Now, you can't you just can't democratically exclude
those people, right, That would just be such a distinct
thing to do, because then what you'd end up doing
(01:17:06):
is you wouldn't have any MPs. There is value in
some MPs representing the migrant Chinese community, there absolutely is.
I mean, those people have pretty specific and unique problems
and interests, and so having somebody in Parliament who represents
them as fair absolutely fair enough. I don't think, Yeah,
I just don't think you can do it in New Zealand.
But I take your sentiment listen that I've been waiting
(01:17:28):
for this and I'm very happy to see that the
job has been filled. This is the New Zealand Olympics
Games mascot gig. The woman is this is the sweetest job.
I don't know if you realize this, but absolutely is
the sweetest gig that was going in New Zealand for
ages right gone now. Obviously Kate Thompson, head of Physical
Education and how the Carpety College has got it, she
wasn't intending to get it. She tried to get the
kids at Carpety College to do it because she saw
(01:17:49):
what a wonderful opportunity it was, but absolutely no one
wanted to enter. So the day before the entries closed
she was like, oh well, somebody has to do it older.
So she got her class to help her with a video.
They went into the gym I think or something and
recorded it. She got another teacher to film it. The
film and design teacher did all of the editing and
then one of the sports captains put it on Instagram
(01:18:10):
and she got the gig. So as a result, they're
flying her to Paris. They're putting her up an accommodation.
She gets to go to some events, gets to hang
out with the athletes, heye, which is great because she's
the head of physical education and house so she'll be
fitters all now, don't give him a run for their money.
And all she has to do to have that sweet
gig is make a clown of herself when she's dressed
as a kiwi. How good is that?
Speaker 2 (01:18:30):
Six twenty one The Rural Report on the Heather Duper
c Elan Drive with Anne's Kofoods, New Zealand's Finest Beef.
Speaker 3 (01:18:38):
And Lamb, twenty four Pasts and Jamie mckaie Hosts of
the Countries of Us Evening.
Speaker 21 (01:18:42):
Jamie, can I hear that?
Speaker 5 (01:18:44):
So?
Speaker 3 (01:18:44):
Shane Jones was on the show and he was just
having a crack.
Speaker 21 (01:18:46):
Was he oh, just having a crack racking up the Greenies?
Hue name it. Look, we were gonna talk. He was
filling in for Winston Peter's on yesterday's show, and we
were going to talk about live animal export, which were.
Speaker 3 (01:19:00):
Jamie, are you there? The Greenies have cut his line.
They have We're going to talk about the live animal
export Greenies to cut the line. Hey, while I've actually
speaking of which this is actually important, So we'll see
if we can get Jamie up. I just got to
tell you quickly. Transpower is asking households north of Walkworth
who do not have power to please reduce the power outage.
They the power usage. Rather, they say they don't yet
(01:19:22):
know when the power is going to be back on
for everyone, but it's going to take at least until
late tomorrow at the earliest, so you're in for the
long haul. Northland people with power are being told to
use less. For example, turn off the heaters, turn off
the lights and rooms you're not using, use your large
appliance as sparingly, only charge your electric vehicles as needed.
(01:19:42):
Six twenty five and Jamie McKay's back, cal I say, Jamie, well.
Speaker 21 (01:19:46):
Someone turned the power out and the need an apologies
for that, Heather. So anyhow, he tees off against Jill.
Just send us new political program about leading with kindness
and empathy. And I suggested to him that there's probably
a few frogs and lizards around the cun who reckon
he should sign up for this program here But anyhow,
I'm just quoting him here. He said, Martua Shane Jones
(01:20:07):
from Katya always speaks about himself and the third person.
It's not going to tolerate ever, any of that jewy
eyed naivete It'll be a long day in hell before
I join that pearl clutching group. And then I suggested
to him that perhaps he could learn to speak to
people with hope and optimism rather than fear or blame,
to unite rather than divide, and away he went again.
(01:20:28):
He said, just cinders over there emotionally colonizing another part
of the world, and the less I encounter of it
the better. And then we got to live animal export,
and this is where he really took off. He said,
I think we should go ahead sooner rather than later
with exporting animals. And if a few rams die on
the way, well that's just part of life. We can't
(01:20:49):
preserve every single creature in the pursuit of fiscal solvency.
Get real, So that's to change.
Speaker 3 (01:20:56):
You've been wavering on this, you haven't been sure we
sit on the live animally sports. Has he changed your minds?
You firmed you up.
Speaker 21 (01:21:04):
Look, honestly, it's a very divisive it's a divisive issue,
and I think I've said to you that, to this
to you before, Heather. I think New Zealand farming has
split down the middle on this one. Yes, it's a
half billion dollar income earner, but there are some negatives
with it as well. But I will say, you know,
like the animal wealthy standards on these live exports ships
(01:21:25):
is vastly different to what we had in the past.
Speaker 3 (01:21:27):
Yeah, hey, what's the problem with the median barriers?
Speaker 21 (01:21:32):
Well, the median barriers. Let me have a look at
that one. I thought we were talking about the ravo
farmer comfort.
Speaker 3 (01:21:37):
I'm fascinated by the median barriers.
Speaker 21 (01:21:39):
All right, Well, go with the median barriers or you
don't even start me on the orange cones here that
We'll just go with the median barriers at the moment.
So the rural contractors say the median barriers and barriers
are making roads unsafe and causing them stress for those
driving tractors with lines of cars behind them. These are
the tractors with the mowers or the silence makers or
whatever as they're making the way down. Obviously, the cars
(01:22:00):
can't get passed if there's a median barrier in the
middle of the road. So these contractors driving tractors on
long stretches a road are being faced with abuse and
being clipped by other drivers who can't pass them because
of those barriers. The guy who's running the Rural Contractors
group a chat by the name of Andrew Olsen said, look,
(01:22:21):
and members are telling us it's becoming quite stressful because
they're traveling down the road and they're tractors or machinery,
which they're entired to do, and then they end up
with dozens of cars with impatient drivers like me behind them.
Speaker 9 (01:22:32):
He said.
Speaker 21 (01:22:32):
It can be easily fixed by just putting casting bays
or areas where contractors could easily and safely pull over
to let the others pass, and actually campa van drivers
could follow that leader as well.
Speaker 3 (01:22:44):
It's actually not a bad piece. It's not a bad
idea at all. Jamie, thank you so much. As always
Jamie McKay hosts of the Country, Right Sam Dickie's next
He's going to tell us what the next half of
the year holds for the investor needs to zibyay.
Speaker 1 (01:23:01):
Crunching the numbers and getting the results. It's headed due
for Cea Ellen with the Business Hours thanks to my HR,
the HR platform for SME on news talksb Cool.
Speaker 3 (01:23:19):
Heather Rhymers in the Wide and Upper a couple of
weeks ago, it has been infected with median barriers and
eighty k per hour speed limits on long straight roads
that have been one hundred k's since that speed limit
came in. It was totally stupid. Yeah, medium barriers. Pretty
good for saving lives, but pretty good for getting you
frustrated at the same time. Christ Church, by the way,
(01:23:39):
just in the last few hours, has been voted New
Zealand's Happiest City. This is a little index that starts
the twenty twenty four Happy City Index done by the
London based Institute for Quality Life Christe They've got like
a gold category which is the top thirty seven country,
top thirty seven cities as they see it in the
world and christ Church is the only city to feature
in that top thirty seven Denmark's second largest city, RHUs. Yeah,
(01:24:06):
and I got it right. Apparently the German looked at me.
That's why we need a European here for this kind
of like weird names you've never heard of before. Aarhus
that's already called the city of smiles that's in the
top spot. Then Zurich, then Berlin about that, yeah, then
somewhere in Sweden, somewhere in Netherlands, I Amsterdam. Of course
they are because they're geting Stone the whole time. And
all of the top seventeen cities are in Europe or
(01:24:28):
the UK. And then the first one that's from anywhere
else comes in at number eighteen. It's Minneapolis in New Zealand.
Christ Church is thirty two, Wellington is fifty, and Auckland
is seventy two. How is Wellington fifty? How is Wellington fifty?
The only explanation for Wellington b I mean, like, we've
featured Wellington in the show today at nauseum as none
(01:24:51):
of it's been good. So the only way that Wellington
can possibly be at fifty is because this was done
before Tory became the mayor and before the job cuts
in the public sector, because you know it's not there anymore.
Right twenty two away from.
Speaker 2 (01:25:04):
Seven Heather du clohendegraded with.
Speaker 3 (01:25:07):
Us in just about ten minutes time. We're thereabouts. Now
we're almost halfway at the at the halfway point for
the year. Of course, question is how different is the
investing environment now versus the start of the year. And
to answer that question we have Sam Dickey of Fisher
Funds with us.
Speaker 20 (01:25:19):
A Sam, Heather, Now, are you so very well?
Speaker 3 (01:25:22):
Thank you so remind us of the economic backdrop and
the investing environment as we started the year.
Speaker 5 (01:25:28):
Yes, So if we look at it through growth the
lenses of and growth, inflation, interest rates, and equities to
set up on January one was the market was still
pretty cautious about US economic growth, for example, so they
are only forecast in a poultry one percent growth for
the year. Inflation had been tamed, but not completely conquered.
(01:25:48):
So global inflation, you remember back in the day it
was at a high of ten percent and it was
at about five and a half percent of the start
of the year. Bond investors had a slightly bitter year
in twenty twenty three, so they were feeling a little
bit less grim after the worst year in one hundred
and fifty years the year before, but still nothing to
write home about.
Speaker 20 (01:26:06):
Men.
Speaker 5 (01:26:07):
Finally, on the share market, those investors were feeling pretty
good about life as they entered twenty twenty four. Remember
the strong rebound in equity markets in twenty twenty three
and within that, remember the twenty twenty three stock market
performance was driven by a narrow bunch of stocks, and
I'm sure you remember the magnificent seven heather, Yeah, totally.
Speaker 3 (01:26:24):
What does the backdrop look like.
Speaker 5 (01:26:25):
Now, though it's shifted a bit so through those shame
the same lenses. The US economy has just surprised positively
all year, so economists are now expecting two and a
half percent growth for that all important economy, up from
that one percent initial forecast. Global inflation has fallen a
little bit further, but still not fully wrestled to the ground.
(01:26:46):
Bond investors are still waiting for their day in the
sun and returns are approximately flat, and share market investors
are enjoying another solid six months. So global equities are
up twelve percent, But there is one little wrinkle heater,
So you and I took back in March to April
about the nice broadening out of the stock market rally
after that very narrow rally in twenty twenty three, which
(01:27:07):
was funny enough, correlated with that nice continuous positive surprise
in the US economic growth. Well, right now that US
economic growth is still solid, but it's no longer accelerating,
and the stock market rally is again really really narrow,
so it's only been driven by less than a handful
of stocks now, so Google, Apple and n Video.
Speaker 3 (01:27:27):
That's interesting. Remind us of the themes we've seen. What
are the investments that are working and what are the
ones that are not.
Speaker 5 (01:27:33):
You and I've talked about it most of them, but
if we just picked three over the last six months
we've talked about so you and I talked about how
Google and Apple were considered AI laggards or losers, which
seemed absurd, and the lesson there is when high quality
companies are called losers, investors should basically pay attention. The
second thing is we talked about how commodity prices and
(01:27:56):
doctor copper in particular is a really good barometer of
the health of the economy, and incident that price has
fallen a bit lately after a very strong run earlier.
And the other thing we talked about was how geopolitics
are of course sad, and elections garner a heck of
a lot of headlines, they typically don't derail long term
stock market investors.
Speaker 3 (01:28:16):
Why I mean, Sam, is it normal for a backdrop
to change so much?
Speaker 5 (01:28:22):
It's not. It's not normal. And if you look back
over say the last twenty years or so, and if
we used analyst forecasts of US GDP for the year ahead,
normally those forecasts will move around by maybe half a percent,
maybe a percent until they land on the final actual number.
So that sort of think about that as forecasting era.
Since COVID analysts are having a nightmare forecasting US and
(01:28:46):
global GDP grow, so the difference between the initial forecast
and that final number can be as wide as two
two and a half percent, so three to four times
the normal forecasting era.
Speaker 3 (01:28:57):
What does that mean for investors?
Speaker 5 (01:28:59):
I think it means you stick to your knitting, so
you take a really long term view and you invest
in high quality, long term growth companies, and you shouldn't
normally be swayed by macro economic forecasts because they're normally wrong.
But especially so now in a post COVID world.
Speaker 3 (01:29:14):
Yeah, brilliant advice. Thank you very much. Sam appreciated it
has always talked again next week that Sam Dickey for
your funds. Hither it's not the scene to barriers so
often it's the barriers on the left where they can't
move over. Thank you for that. Well, that's exactly why
you need a passing lane on the left day. But
then you actually need them to use it, you really do. Hey, Finally,
we give public transport so much grief because it leads
(01:29:35):
us down so frequently. But finally, there is something really
smart that's happening in public transport that, as you think,
is going to it's going to bear fruit very soon.
In Auckland. You're going to be able to get on
a bus and just use your credit card or your
debit card or your phone or whatever to pay for
the bus fare. At the moment, if you try to
catch a bus, you need like a hop card or something.
I don't really know. You need to at card. I
(01:29:55):
don't not wanting it. You need a card. You need
a card that I don't have. You need a card.
Where do you get the card? I don't know? You
have to go maybe down to the ferry terminal or
something like that, and buy the card. Who can be bothered?
Who can be faffed with it? And I think, do you
have to put money on the card as well? Oh no,
I cannot be faffed with all that kind of thing,
just all the off chance that maybe one day I
catch a bus. Now you don't need that anymore. Game changer.
(01:30:17):
Auckland's the first place in the country that's going to
have it rolled out. It will happen this year. Second
place in the country, tim Areu, Tim of Vegas, I
knew you were a big deal. Then christ Church early
next year they have plenty and in the cargo mid
next year, Wellington, hawks Bay late next year. All the
other regions in the country are going to get it
by the end of twenty twenty six. As I say, brilliant,
(01:30:38):
because what it means is like, for example, if you've
got family members who live in Wellington, and we do,
and then they come up to Auckland and they love
catching the bus in Wellington because they got whatever the
card there is called, like a snaper card or something
like that. Who knows whatever, who knows are they come
here to Auckland, they do not have a card that
they can use. They can't catch the bus, but they
love catching the bus. Now they can just use a
credit card. I don't know if Sammy and Brown is
(01:31:01):
responsible for that. He's the minister announcing it, but if
he is game changer sixteen away from seven, whether it's.
Speaker 2 (01:31:07):
Macro microbe or just playing economics, it's.
Speaker 1 (01:31:10):
All on the Business Hour with Heather Duplicy, Allen and
my HR, the HR platform for SME used talksb hither.
Speaker 3 (01:31:17):
You know there is an answer to being able to
use the same thing to pay for public transport. It's
this sole thing called cash.
Speaker 5 (01:31:22):
Haha.
Speaker 3 (01:31:24):
Not in Auckland. You cannot get on the bus and
use cash.
Speaker 24 (01:31:28):
This was so embarrassing.
Speaker 6 (01:31:29):
Heither.
Speaker 24 (01:31:29):
A couple of years ago, I realized that my hopcard
must have fallen out of my pocket or something. So
I quickly fell out and I did have some change,
so I got up and stuck it in a little
change tray on the bus, and the bus driver just
looked at me like I was an absolute idiot and
was like, we haven't taken cash for about two years, mate.
Speaker 3 (01:31:45):
So two years ago they told you they hadn't taken
cash in two years two years.
Speaker 24 (01:31:48):
Yeah, that would have been like three or four years
ago now.
Speaker 3 (01:31:50):
So basically we stopped using cash in nineteen seventy five. Mate,
thanks for the text, really appreciated into Brady our UK
correspondence with us.
Speaker 21 (01:31:58):
Now, Hey Ender, Hey Hea, they're good to speak to
you again.
Speaker 3 (01:32:02):
And did you see what happened to Tyler Swift's plan?
Did you just see what happened to Tayler Swift's plane?
Speaker 21 (01:32:07):
Yes, So this is another headline by Just Stop Oil,
fresh from targeting Stonehenge yesterday. They've managed to get a
small group of protesters into Stanstead Airport. It's a private airfield.
Standstad is a huge public airport obviously, but there's a
private airfield attached to it, and there's a private jet
(01:32:28):
there used by Taylor Swift, and that and others have
been targeted by Just Stop Oil. So lots of paint
thrown about. I would imagine a major investigation underway now
and a lot of anger here. People really won't care
about Taylor Swift's playing very much, but a lot of
anger about what they did at Stonehenge yesterday.
Speaker 3 (01:32:46):
Doesn't help at all that the stuff is going to
wash off. Apparently it's like a water base. Painters will
just run off.
Speaker 20 (01:32:52):
So they're saying it's like made with corn powder or something.
But look, Stonehenge has been there five thousand years, hasn't
troubled Anyone doesn't contribute the climate change, is not involved
in fossil fuel extraction. Apparently, they said they were making
their point for the new government that they wanted to
kind of bring the UK to a stance they'll get
(01:33:13):
people's attention and get a confirmation from the next government
if it is going to be labor that they will
stop extracting fossil fuels in the North Sea. So look,
they're just making themselves deeply, deeply unpopular.
Speaker 3 (01:33:28):
You too, Right now, have you got another Conservative candidate
who's placed a bit on the election?
Speaker 20 (01:33:35):
Yes, so female candidate for the Conservatives standing in Bristol
in the West of England. And the Gambling Commission are
now handing over information to the authorities because yes, another
bet went in predicting that there would be a July election.
So in the last couple of weeks we've found out
that Craig Williams, who is Parliamentary Private Secretary to Sunak,
(01:33:57):
he placed a bet allegedly on there being the election.
Last night we found out that a police protection officer
who works very closely with Sunak, he allegedly placed the
bet on there being a July election. And now the
Conservative candidate in Bristol is trouble for in trouble for
exactly the same.
Speaker 11 (01:34:15):
You know.
Speaker 20 (01:34:15):
Obviously word was getting out, its spread like wildfire, and
some people thought they would cash in and get down
the bookies. It's going to come back and bite them
in the bomb a big time.
Speaker 3 (01:34:24):
Yeah, totally. Richie's going to lose the seat, isn't he.
Speaker 20 (01:34:28):
So the latest poll reckons that he will. That's by
three hundred and eighty two votes. It'll be extremely tight.
He's in Richmond in North Yorkshire, very affluent area, always conservative,
he lives in a mansion, and the latest polling has
not only electoral wipeout for his party but him having
the utter i mean ignominy of being booted out of
(01:34:51):
Parliament and not even saving his own seat. So I
think the family trip to California and the move out
of the UK's happening a lot quick.
Speaker 3 (01:35:01):
Here too, write I'm not surprised by this at all.
Speaker 6 (01:35:03):
End it.
Speaker 3 (01:35:03):
Thank you as always end of Brady our UK correspondent.
I don't I think you can't just go around paint
like these guys might have made a big mistake. I
don't think you can just go around painting over planes.
I think it's one of those am I wrong? Like
there will be people who know more about the stuff
than me, which is literally everybody. But I think that
you have sensors on planes and you have to be
(01:35:24):
really careful where you paint because otherwise, if you paint
over the censor, you can have a crash. So I
would imagine that these guys have caused a lot more
carnage than they They just like cornflower, I'll just wash up. Now,
Well what if it got stuck inside the censor and
then Taita dies? Now you're in really big trouble, aren't you.
Mate thought about that obviously not anyway, if you know
more about that than me, which is which more most likely,
(01:35:46):
please let me know. Nine two nine two Christich City
Council is quitting local government New Zealand. Says that they've
made the call that they're going to quit local government
New Zealand because it's the annual membershop costs have gone
up by more than twenty thousand dollars is just not
value for money anymore. Also, a report to the council
ahead of the decision had pointed out that if the
council had left local government New Zealand, it would be
(01:36:08):
free to advocate more effectively and more specifically on things
that actually matter to the city, rather obviously than having
to advocate on things to fall into line with this
big body representing all councils. Because let's be honest about it, right,
if you're a council I don't know, let's just name one, Ashburton, right,
you probably don't care about the same stuff that Auckland
Council cares about or kaipit. You probably don't share. I
(01:36:29):
mean there'll be some but largely there'll be a lot
of stuff you have completely divergent views on. This though,
is very bad for local government New Zealand because Auckland
already left last year, So now the two biggest cities
in the country have left local government New Zealand, and
frankly I think everybody else should as well. Local government
New Zealand is appalling. It's a waste of time and energy.
(01:36:51):
If you look at what's going on in the media.
Look at the number of times they pop up. It
seems to me that the biggest issue that local government
New Zealand's got at the moment as far as their advocacy,
is Maori Wards on councils. Really, if you think about
all the stuff that these guys are facing, They've got
infrastructure issues up and down the country, they've got water
services issues, they've got massively increasing rates, on and on
(01:37:14):
and on the list goes. But Maori Ward's huge deal
for local government New Zealand. I would do any other
council out there that's like, just get out, why are
you wasting your time for seven away from seven?
Speaker 1 (01:37:25):
Whether it's macro, MicroB or just playing economics. It's all
on the Business Hour with Heather Duplicy Allen and my HR,
the HR platform for sme US talksp.
Speaker 3 (01:37:37):
Here that do you remember there was an Air New
Zealand plane that crashed on a test flight in France
due to improper painting and washing of a sensor. So
this could absolutely cause serious problems. Thank you for remembering that.
Fair point five away from seven. Hey, listen, here's the
latest bit of gold from Trumpy at a rally. He
suggested that Joe Biden, for the first debate, is going
to be pumped up on coke.
Speaker 2 (01:37:56):
Joe Biden doesn't have a clue.
Speaker 14 (01:37:57):
Now we're going to watch, Is anybody going to watch
the debate?
Speaker 2 (01:38:05):
He's gonna be so pumped up. He's gonna be pumped up.
Speaker 14 (01:38:09):
You know all that stuff that was missing about a
month ago.
Speaker 7 (01:38:11):
From the White House?
Speaker 14 (01:38:14):
What happened? Somebody didn't pick up hundreds of thousands of
dollars worth of cocaine.
Speaker 7 (01:38:20):
I wonder who that could uppen?
Speaker 14 (01:38:22):
I don't know, Actually I think it was Joe.
Speaker 3 (01:38:27):
Anyway, he seems to be referring to an incident where
a bag of coke was found in the cubby hole
at the White House last year. But that bag was
less of a was in the bag was less than
a gram, So even with inflation, it wouldn't be worth
hundreds of thousands of dollars, would it ends?
Speaker 24 (01:38:43):
And Donald Trump strikes me as the sort of person
who probably knows how much coke costs.
Speaker 3 (01:38:47):
Do you think so? I reckon he'd have other people
buying it for him.
Speaker 24 (01:38:50):
Well, I mean, I'm not saying that he'd use I
just think, you know, he knows people he's at the
golf club.
Speaker 3 (01:38:54):
They probably you know inflation.
Speaker 24 (01:38:56):
Yeah, that's a very good point. Actually, forty to fifty percent.
You're losing me by Taylor Swift to play us out
tonight just in honor of her plane getting done by
the by the protesters, who probably are losing a lot
of the lot of the audience with.
Speaker 3 (01:39:09):
Yeah, i'd say, so you got by the way, go
and watch the video because the pair of them, the
two girls sort of mid twenties, i'd say, cut their
way into the through the fence with a little like
little little angle grinder thingy, and then they do that,
they spray the paint all over the windows, and then
they sit on the ground and hug each other. Yay,
see you tomorrow. Enjoy your evening news talks. He'd be.
Speaker 25 (01:39:34):
Yesus les ill loosen me starffter ill loosen me star
(01:39:57):
stop stop ill loosen me. I can't find a postmart
won't start anymore.
Speaker 1 (01:40:06):
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