Full Show Podcast: 01 October 2024

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
The only drive show you can trust to ask the questions,
get the answers by the facts and give the analysis.
Jack Tame On, Heather Dupless the Elan Drive with one
New Zealand Let's get connected news Talk, said.

Speaker 2 (00:14):
Be Sheldon, New Zealand. Good afternoon, Jack Tame with you
and for Heather on Drive this week big show after
five o'clock take you for the very latest out of Lebanon.
The Israeli Defense Force the IDF, confirming they have started
what they say are for the time being at least

(00:35):
small scale ground invasion into some towns and communities in
the southern part of Lebanon. The air strikes are continuing
not only in Lebanon but also in Syria, so we're
going to get the very latest on that as well
as that. Of course, the decision from the Commerce Commission
today turning down the proposal to merge the North Island

(00:56):
and South Island arms of food Stuffs, So what does
it mean? Is it over yet? Could we expect to
see some high court action? I suspect, So we will
take you to food Stuff's North Island CEO after five.
Right now it is eight minutes past.

Speaker 3 (01:09):
Four, team, So if you're in a bit of a.

Speaker 2 (01:11):
Rush yesterday and I don't know, maybe somehow you got
caught out by daylight saving or you were scrambling to
get to an appointment and you forgot to put money
in the meter before rushing off. You would have been
fined for your errand parking forty dollars, right, forty bucks.
But if you did the same thing today, exactly the

(01:32):
same thing, parked in the wrong place, didn't put money
in the meter, didn't use the app exactly the same offense,
you would be fined seventy dollars. Almost double. Parking fines
are up for the first time in twenty years, and
errant parkers will be parkers will be facing stricter penalties
right across the board. I think the single highest parking

(01:55):
fine as it stands is for parking in a disabled
spot seven hundred and fifty. Now, look, I don't have
an issue with the higher fines. If you don't want
to be fined, pay for your parking. It's pretty simple
as far as I'm concerned. But despite supporting higher fines,
Auckland Mayor Wayne Brown isn't happy with the new regime.

(02:16):
He takes issue with the fact that fines are still
set by central government under the Land Transport Act rather
than by local councils. And honestly, I think he's got
a really good point. I mean, it might seem like
a trivial subject, right, Parking finds might seem like a
relatively trivial focus for a government or council. It just

(02:36):
seems absurd to me that, for all the talk about localism,
councils are still relying on an edict from Wellington to
set their parking fines. I mean, if a council can't
be relied or relied on to set appropriate parking fines
for its jurisdiction, how on earth can we expect it

(02:59):
to manage balance sheet? Can we expect it to manage
consenting or complex infrastructure planning? And Wayne Brown's quite right,
there is no reason that finds in congested big city
centers should be the same as parking finds on the
main street of a regional town. That just makes no sense.

(03:19):
Central government says it wants local councils to be focused
on the basics. Surely setting parking fines within its own
jurisdiction qualifies as a.

Speaker 3 (03:30):
Basic Heather Duplicllen.

Speaker 2 (03:33):
Ninety two ninety two is our text number if you
want to get in touch. JACKETEWSTALKSZB dot co dot nz
is my email address. New Zealand has just recorded its
highest number of credit card applications since twenty twenty one.
Credit card arears are also on the rise, up to
four point four percent in August. Financial hardship cases are
up a quarter for almost a quarter year on year,

(03:54):
and twenty nine percent of those cases relate to credit
card debt. Tom Hartman is the personal finance lead. It
sort it ends with us this afternoon.

Speaker 4 (04:03):
Kyoto, Tom, kyoda, Great to be with you, Jack.

Speaker 2 (04:06):
What do you put this down to?

Speaker 4 (04:10):
Well, I think we're headed like cost of living is
still is still biding. These are still really tough times
and now we're heading towards what I to call the
Bermuda triangle of family finance, which is Christmas, the holidays
and then back to school. And so we're seeing all
these costs coming at us at the moment, and one

(04:31):
way to cope with them is to borrow our way
through it on credit cards.

Speaker 2 (04:35):
Yeah, why is it so bad right now? The cost
of living has been an issue for some time Now,
what do you think it is about this time in
particular that is leading to such a surge and credit cards.

Speaker 4 (04:48):
Well, if you look at hardship, what that centric report
is telling us is that it's really more than ever
difficult for people to get by these days. And there
are a couple lot of bills that have maybe maybe
piled up from power, from from kids, sports fees. It
could be, it could be many different situations and you know,

(05:13):
this is just one way to get through it.

Speaker 2 (05:15):
Yeah, it's interesting to break down the numbers. The age
group experiencing the highest levels of financial hardship at the
moment are those in their late twenties, mid to late twenties,
so thirty five to thirty nine. Why do you reckon
that is?

Speaker 4 (05:29):
Yeah, and I'm wondering if this is you know, because
they're young families and you know, costs from you know
getting through these times, you know in terms of everyday bills,
but also school school fees, holidays coming up. I think
people are also preparing. But you know, credit cards there

(05:52):
there's still really incredibly an expensive way to do this,
and there's such a variation in how much they cost.
This is expensive money.

Speaker 2 (06:01):
Yeah, I mean, do people have the financial literacy to
know how to navigate credit card date.

Speaker 4 (06:09):
This is an extremely sticky product too in terms of
a way of borrowing. So you get your credit limit
and you know, our minds go to, oh, this is
how much money I have to work with it, But
it's really only your credit limit is the amount that
you can borrow, and when you're borrowing, it can be
incredibly expensive. One of the cheapest ones is thirteen point

(06:32):
nine percent, but they can go up as high as
double that, twenty seven point nine to nine.

Speaker 5 (06:37):
This is this is really an expensive way to do this.

Speaker 2 (06:40):
Are there alternative options for people?

Speaker 4 (06:43):
Well, I really hope that people are aware that there
are no interest and low interest loans out there that
can really, you know, be a good alternative. They're not
for everyone, but they're available from groups like Good Shepherd,
the Finance. You know, they're really set up to help
people borrow in a much safer way.

Speaker 2 (07:05):
Yeah, And for the time being, looking at these latest numbers,
what do you think it means for our financial future?
What will high levels of credit card use and potentially
credit card debt mean for New Zealand's economic recovery?

Speaker 4 (07:19):
Well, I think in general we're going to get stuck
with the bill. We'll be carrying you know, balances for
a while, paying it down slowly, and you know, these
balances are going to stick with us for a while
and basically we're going to be paying that interest over
our long period to come.

Speaker 2 (07:36):
Thanks for your time, Tom, appreciate it. That is Tom
harm to lead a personal finance lead at SORTED. Thank
you for your feedback as well.

Speaker 4 (07:42):
Jack.

Speaker 2 (07:42):
Regarding councils, there is plenty of evidence the councils are
very bad money managers, is pat Come on, Jack, No
one trusts counsels for anything at the moment, is Dave
and Christens is. Auckland is not New Zealand. We are
all part of this country. I think that's kind of
the point, though, isn't it. I just think if we
are expecting councils to deliver water infrastructure plans, if we're
expecting councils to be responsible for consenting in our cities,

(08:07):
towns and regions, surely we can trust councils with parking fines.
And the truth is that a parking find that might
be appropriate in central Auckland, or central christ Church or
central Wellington or Todung or Hamilton might not be appropriate
in other parts of regional New Zealand, but let me
know what you think. Ninety two ninety two is our
text number. Don't forget the standard text costs apply if
you are flicking me a message. It's squared past four.

Speaker 1 (08:29):
Digging deeper into the day's headlines. It's hither duplicy allan
drive with one New Zealand one, give leape for business,
u STORGSB sport with tab get your bed on our
eighteen bit responsibly.

Speaker 2 (08:43):
Eighteen past four and New Storks edb's sports talk host
Darcy Waldegrave is here with details on what sounds like
an ambitious bid, but my goodness, it would be amazing
if it was pulled off. The World Indoor Athletics Championships
to New Zealand.

Speaker 6 (08:57):
Twenty twenty eight. The only issue there is what else
is happening in twenty twenty eight Olympic Games LA. Now
I'm not quite sure. I haven't done my research, and
this is news.

Speaker 2 (09:09):
Zourney just come out.

Speaker 6 (09:10):
As far as how many athletes actually attend.

Speaker 2 (09:13):
I think the five hundred, But how many who are
going to the Olympics in that same cycle?

Speaker 6 (09:19):
Ly do they keep their powder dry during the World
Indoor Athletics Championships that they come to stretch themselves out
before they go to LA So there is an asterisk
around this. But I think for an event, and New
Zealanders love sporting events, I think a lot of Kiwi
is now a little tired of They don't follow whole
programs unless they're at Mad Cricket van Mad Rugby Dad.

(09:42):
They want a one off event. They want to go
to something it feels special, like the final of the
Women's Rugby World Cup and so on and so forth.
So something like this, who wouldn't go? I think it's
over three two, three days of competition the last week
we're gonna have a three days of competition. You've got
twenty six different events, a teen male, thirteen female, best

(10:02):
in the world. And it doesn't have to be indoors.
Apparently they can still run this outdoors if required. So
Eden Park might have a shot. But but where would
where would this be beautiful?

Speaker 7 (10:14):
Do you think, Jack?

Speaker 6 (10:15):
Where do you think?

Speaker 4 (10:15):
Oh?

Speaker 2 (10:16):
Yeah, Tokaha to Kah, Yeah, that would be amazing.

Speaker 6 (10:21):
It's got a roof, so it's under the roof. There's
massive amounts of accommodation and christ Church.

Speaker 2 (10:27):
It'd be brand spanking new film major. You will be
right behind this, I can.

Speaker 8 (10:31):
I think you want.

Speaker 6 (10:32):
The coverage will be exceptional. It's an easy place to
get too, straight into christ Church on the plane unless
this fog that happens in Auckland.

Speaker 9 (10:41):
So it's got a lot to it.

Speaker 6 (10:43):
I think. Look, I don't know how far it goes,
but apparently government are behind it. Chris Bishop is behind it,
which is a positive. So what happens now I don't know.

Speaker 2 (10:51):
So okay, So I've just looked at the dates for
the LA Olympics there in July. This would be held
in the third week of March, so pretty relatively comfortable climate,
not totally comparable to LA. But if those athletes are
starting to get in that kind of you know, similar
temperagere zone, you've got what three months in between, so
there's there's.

Speaker 6 (11:10):
How much they want to fly back and forth from
a lot of their power bases in America or in Europe.

Speaker 2 (11:15):
Yeah, yeah, especially well actually, because a lot of them
are based on especially those high profile American athletes, they're
all based on the West Coast these days. They you know,
they're all based around Oregon or maybe Texas there and
they will come. Yeah, I'm into it. I think it'd
be amazing. But who knew that the indoor Champs didn't
have to be indoors.

Speaker 10 (11:32):
I didn't either.

Speaker 6 (11:33):
I was going, hold on, we've got a big enough
indoor stadia bits to Kaha gets built And now I'm.

Speaker 2 (11:37):
Really I'm putting you on the spot here. But I
think the indoor Champs, don't They have some events that
differ to the outdoor Champs, right, So you have like
the sixty meter sprint, stuff like that.

Speaker 6 (11:45):
Little they had two hundred meters but it was so
tight that they bang into the law. Wow, they just
couldn't do it, so they canned that. So there's only
a handful of events. But I think as far as
an experience and you sit down for a couple of
days and watch all these world class athletes go it
at hammer and tongs, even I believe Jack, if the
best in the world aren't there, people would go because,

(12:08):
as I said at the start, it's an event, and
you said I just love being at an event. I
think it's got a lot about it. It's a lot
more feasible than the Commonwealth Games and whatever. Shape or
form they may take.

Speaker 2 (12:22):
Now the Tallbacks have a new coach.

Speaker 6 (12:24):
Yeah, and it's a wonderful part of a long lasting legacy.
Two thousand and two the World Champs when he's on
and finished fourth, Pero Cameron got on the top team.
Incredible stuff. He's a Hall of Famer. So from Ninad
Vucinich was an assistant coach. There after Tad Baldwin stopped
and then from Vusinich it went to Canada, and then

(12:46):
from Hanadi it goes to Pero Cameron, and then from
Pero Cameron it goes to jud Flavel. They were all there, Yeah,
in two thousand and two, thread the whole week and
he's of course he's won a couple of recent championships
for Canterbury, the Canterbury Ram first on a thirty years,
they've picked them up. He's won two more at that
level and he worked with the Breakers for many, many

(13:06):
many years as their assistant coach. I think he was
their assistant coach right the way through their heyday when
they were winning titles left right and sent us. It
makes huge sense to get somebody like that, and he
understands the energy and the pride behind the fern and
the tall blacks, although some may question did they go
far away enough? Would we get an internationals?

Speaker 11 (13:25):
Basketball?

Speaker 6 (13:25):
Is such an international game?

Speaker 2 (13:27):
Give us thirty seconds on Nelson a sopha solo minor.
He hasn't overturned his band, so he's going to miss
the grand Final.

Speaker 6 (13:32):
I've got a wee lesson for everybody out there. Don't
smash people on the head with your shoulder. It's called
control the narrative. I keep telling my daughter about if
you don't do this, this won't occur.

Speaker 2 (13:44):
Control the controllerb. Don't start a.

Speaker 6 (13:46):
Fight with somebody.

Speaker 2 (13:47):
They won't fight back.

Speaker 9 (13:49):
Just don't do it.

Speaker 2 (13:50):
It's a shame though his.

Speaker 6 (13:52):
Epic to watch, absolute monster of a human being.

Speaker 11 (13:54):
But so be it.

Speaker 2 (13:56):
Don't all right, don't thank you sir. He'll be with
us tonight with Sports Talk, taking your calls after seven o'clock.
Right now, it's twenty three plus four hard questions.

Speaker 1 (14:05):
What strong opinion? Jack dam On, Heather Duplicy Eland drive
with one New Zealand let's get connected at news talk
and said.

Speaker 2 (14:13):
Be Jack, you said, if we want councils to be responsible,
come on, if only they were responsible, they administer consents
in parking. But the last thing they are is responsible,
all care, no responsibility. As far as I'm concerned, Jack,
what is wrong with a blanket find system? This is
New Zealand where all people should be treated the same.
I just think the role of parking fines is it's

(14:34):
actually not trivial. But I just think if we are
trusting councils with things like consents, with things like funding
water infrastructure, with the complex balance sheets that they have
to manage, then I think we can trust them with
parking fines. And yeah, I do reckon that there's a
good argument to be made that different towns, different cities
would have different levels for their parking fines. Why does

(14:57):
a parking fine in Gore, for example, need to be
exactly the same as it as an Auckland CBD. But
let me know your thoughts ninety two ninety two get
to more of those. Very shortly after four point thirty,
We're going to take a look at news out of
Australia today. Two hundred retail stores from a major retailer
have just been announced as closing. What's it down to,
I'll tell you which stores are affected. Plus Christopher Luxen

(15:21):
fights back after questions about the sale of his personal properties.
We'll be talking politics before five. News is next on
newstalks 'b.

Speaker 1 (15:39):
Digging deeper into the day's headlines. It's Jack Tame on
Hither Duper see Ellen drive with one New Zealand let's
get connected these talks, ed B.

Speaker 12 (15:50):
When you're saying he's dragging, No, you're thinking him down
me when you're riding where he's driving.

Speaker 1 (15:55):
Now you there's a mindry.

Speaker 13 (16:00):
When your faith and.

Speaker 3 (16:03):
Talks.

Speaker 2 (16:04):
I'd be with Jack Tame before five o'clock. We will
play you some interesting comments from Sir John Key. He
was asked who he thought would win the US election,
and he said that not only did he think Donald
Trump would win, he wants Donald Trump to win. I
think the context of his comments are really important because
I know that will have ruffled a few feathers. He said,

(16:26):
it really was a question of the economy. He thought
that Donald Trump's economic policies were better than Krmala Harris's.
That Karmala Harris was much, much, much further to the
left on the political spectrum in the US than say
Joe Biden, for example, much closer to the likes of
Bernie Sanders and Therefore, he thought that Trump would be
a better option if the economy was front and center

(16:46):
in November's election. So, anyway, we'll play you some of
those comments before five o'clock. Right now it is twenty
four minutes to five.

Speaker 1 (16:52):
It's the world wires on newstalgs'd be drive.

Speaker 2 (16:56):
And we're starting in the Middle East, where Israel has
started its ground defense southern Lebanon.

Speaker 12 (17:01):
We have wondered whether this conflict between Israel and Hasbula
might escalate into an all out war, whether we might
one day see is really troops crossing into the sovereign
country of Lebanon. And indeed, tonight the Israeli military is
confirming that they are carrying out this ground operation.

Speaker 1 (17:17):
They are characterizing.

Speaker 12 (17:18):
It as quote limited, localized and targeted ground rates based
on precise intelligence.

Speaker 2 (17:23):
Meanwhile, Bin Yaman Nitan Yahoo has been speaking directly to
the people of Iran.

Speaker 14 (17:28):
I want to address you, the people of Iran. Every
day you see a regime that subjugates, you make fiery
speeches about defending Lebanon, defending Gaza. There is nowhere in
the Middle East Israel cannot reach. There's nowhere we will
not go to protect our people. And protect our country.
The regime is bringing you, the noble Persian people, closer

(17:51):
to the abyss.

Speaker 2 (17:52):
To the US where Joe Biden has lashed out at
Donald Trump, however, suggestions that he didn't communicate with officials
the aftermath of Hurricane Helene.

Speaker 15 (18:01):
And get mystery. He's lying and the governor told him
he was lying. The governor told me he's lying. I've
spoken to the governor, spending time with him, and he
told me he's lying. I don't know why he does
this and the reason I get so angry about it.
I don't care about what he says about me. I
care when he communicates them people.

Speaker 11 (18:19):
That are in need.

Speaker 2 (18:20):
Donald Trump is also facing criticism over these comments.

Speaker 6 (18:24):
Now, if you had one really violent day, like a
guy like Mike Kelly, put him in charge.

Speaker 4 (18:30):
Congressman Kelly put him in charge for.

Speaker 16 (18:32):
One day, one rough hour, and I mean.

Speaker 3 (18:37):
Real rough, the word will get out and it will
end immediately.

Speaker 16 (18:42):
And finally, nice are United Airlines pilots has treated passengers
to a generous surprise when he ordered thirty pizzas to
the airport following an emergency landing, so his flight was
forced to detour to a medical event that landed in
New Mexico instead of in Houston, and the pilot felt

(19:04):
so bad about the situation he falked out for thirty
pizzas from his own pocket.

Speaker 2 (19:09):
He fed one hundred and fifty people. What a legend.

Speaker 1 (19:13):
International correspondence with ends and eye insurance, Peace of mind
for New Zealand business.

Speaker 2 (19:18):
And Australian corresponding. Murray Olds is or with us this afternoon.

Speaker 11 (19:21):
Yeo, Murray, Hello Jack, Good afternoon.

Speaker 2 (19:23):
Right, so talk to us a bit more about this
call to ban terrorist flags being waived at protests.

Speaker 17 (19:29):
Yeah, and you know, for the last twelve months there's
been a pro Palestinian group in Australia that's been staging
rallies anti Israeli rallies, it must be said, in pro
Palestinian rallies. And there were two well, in fact, there
were more than two, but the two biggest on the
weekend on Sunday Melbourne and in Sydney, and both Sydney

(19:50):
and Melbourne there were Hezberlah flags waved and apparently I
did not see these, but Hummas flags waved as well.
Currently in Australia those flags may not be displayed in
public because both organizations, prescribed terrorist organizations. You can't waive
this stuff in public. But here's the big butt. Police

(20:12):
need more than a couple of people waving flags. They
need incitement to racial vilification or incitement to violence.

Speaker 11 (20:18):
Then they can go and bust some heads, press charges
and prosecute.

Speaker 17 (20:22):
So in New South Wales two years ago, the government,
the conservative government of.

Speaker 11 (20:27):
The day, passed anti Nazi laws.

Speaker 17 (20:30):
Right, so you can't do Nazi salutes, you can't have
Nazi flags, you can't have any of that Nazi nonsense
on the streets of New South Wales. And the opposition
leader this morning, I spoke to him very early and
he said, guess what if there's a whole on the
federal law that bans these flags, lets pass laws resemble

(20:52):
the anti Nazi legislation we passed at state level.

Speaker 11 (20:55):
Two years ago.

Speaker 17 (20:57):
Now will the federal government go down this path and
out and even you know equate HESBLA flags, hamas flags
with Nazi paraphernalia. Peter Dutton, the opposition leader, he's going
straight out of the Tony Abbot's playbook. He says, guess
what the government is too gutless to go down this
path because guess why You've got lots and lots of

(21:17):
Muslim voters in Sydney's western suburbs and Melbourne's Western suburbs,
and the Labor government Anthony Alberinezi does not want to
upset those people as we head in an election. Yeah,
so look it is. Look, it's very very difficult atmosphere.
You feel sorry for the police they have to try
and deal with these There were thirty thousand people in
Sydney jack.

Speaker 11 (21:37):
On Sunday, so it's not small.

Speaker 17 (21:39):
It's a big deal and these flags are being waved around.

Speaker 2 (21:43):
And it's only going to get more complex, isn't it, Murray,
Because I mean, let's be totally clear. I know there
are many people in Lebanon who are totally opposed to Habolla,
but there are so many Lebanese Australians. These are really
big communities. And now seeing that, you know, these Israeli
troops on the ground in southern Lebanon and you know,

(22:04):
continuing to shell parts of Beairute. I mean this is
only going to get more.

Speaker 17 (22:08):
Complex, absolutely, one hundred percent right, It's only going to
get a lot more complex. I was in Beirute not
long after the end of the Civil War, when the
new South Wales government sent a whole bunch of public
senior public servants in charge of water, sanitation, electricity, road
making all this stuff to try and repair this beautiful
city of Beirut because the joint was just a mess

(22:31):
that had been smashed to smithereens in the Civil war.

Speaker 11 (22:34):
And we're seeing the same thing happen again.

Speaker 8 (22:36):
Yeah.

Speaker 2 (22:36):
Now major retailer has announced it's closing two hundred stores.
I thought two hundred stores, what is this going to
be like Azara or a sports Girl or something like that,
But no, this is Rockman's autograph w Lane. Still, two
hundred stores nationwide isn't insignificant.

Speaker 11 (22:54):
And I'm very happy you know all these brands. Jack.

Speaker 17 (22:57):
I didn't know you're in touch with your feminine fashion
side there. Because I must say, I've never heard of Mosaic.
Apparently it's been listed on the Stock Exchange for quite
some time. News Come this afternoon says that Mosaic has
been suspended from trading because it failed to hit a
deadline to post its annual results. Here's the thing, how

(23:19):
bit is going to be because Mosaic and I must
admit I'd never heard of Mosaic to be honest, But look,
there are four thousand staff. It closed a couple of
hundred stores a year ago. Apparently it's really struggling. Four
thousand staff. It's still got around seven hundred stores apparently
around Australia.

Speaker 11 (23:37):
But how deep are these cuts going to go?

Speaker 17 (23:39):
Because it's a lot of jobs and obviously trouble times
for fashion retail bricks and mortar. But you go to
the other side, the online side, and all the young
people I work with tell us that's where they buy
their clothes these days.

Speaker 11 (23:52):
Online.

Speaker 2 (23:53):
You mean, you don't murray.

Speaker 17 (23:56):
But I don't buy clothes anymore. If I get a
pair of jeens a year, I'm.

Speaker 2 (24:00):
Well hedy more clothes. Jordan Pattaya is going to pursue
a career in the NFL with the backing of the
Queensland Reds.

Speaker 17 (24:10):
That's right, yeah, yeah, yeah. Look he's he is a
problematic rugby union player. At his best, he's a star,
a total star. But look he keeps getting injured, which
is not as fault. I mean, it's just the way
he's built. He's very very you know, as one of
these slender outside backs as I was for christ Gidge
Boys High School. When you get those big, meaty meat

(24:32):
headed forwards running into you, it does hurt.

Speaker 11 (24:36):
Anyway.

Speaker 17 (24:36):
He hasn't played for Queensland a year, hasn't played for
the Wallamies either, but as I say, honest day, he's
a fabulous player. So he approached the Queensland Reds. Could
I seek a release? They said, go your harder. So
what he's going to do is go to the United
States in January. The National Football League's got something over
there called the Player Pathway, the International Player Pathway camp

(24:59):
in January.

Speaker 11 (24:59):
That's if the tire's going to go.

Speaker 17 (25:01):
And apparently they get people from all over the world
who go and try out their luck in the NFL.
The last player to do quite well there was Jared
Haynes Rugby League stay here of course, and he played
for the San Francisco forty nine ers over ten years ago.

Speaker 2 (25:14):
Yeah is that ten years ago?

Speaker 3 (25:16):
No?

Speaker 17 (25:18):
Twenty fourteen, fifteen? I'm pretty sure. Oh that's so fast.
It doesn't seem to know.

Speaker 2 (25:26):
That's insane, isn't I It felt in my bones like
only two or three years ago. But you go, thank
you Murray. That is Australian correspondent Murray Olds for this
this afternoon. Thank you for your feedback as well. So
parking fines are up today, Jack consider putting up parking fines.
Why don't they put up speeding fines, says Colleen. They're
currently pathetic. They're far more dangerous than parking. That is
a I mean, that is not an unreasonable point, Colleen.

(25:47):
It is the purpose of like you said, take a
really expensive parking fine, right, so one for parking in
a disabled spot. We can all agree if you're not disabled,
you shouldn't be parking in a disabled spot. Seven hundred
and fifty bucks. That's the fine now. But if you
can hear that to a speeding fine, which is arguably
more dangerous for the public at large, I guess depending
on the circumstances, then there is a good argument to

(26:10):
be made that maybe they're a little bit out of whack.
So thank you for that. Ninety two to ninety two
is the text number if you want to get in touch.
We're talking to politics. Barry Soper in next score a
five on Newstalks, he'd be.

Speaker 1 (26:19):
Politics was centrics credit check your customers and get payments.

Speaker 2 (26:22):
Certainty Newstalks, he'd be senior political correspondent. Barry Soper is
here and studio with this good afternoon, sir Jack. So
Christopher Luxen has hit back at some of the questions
about his various properties, and I'm pleased to.

Speaker 9 (26:35):
See has had some pushback on this, because look, this
man earned several million dollars a year when he was
the see of in New Zealand. He was also a
CEO Unilever. The man, you know, when he came back
to take on this job at a fraction of the
salary of the Prime Minister's job. You know, it seems

(26:57):
to have been held against him the amount of properties
he's got. He's got seven properties, and we've since found
out today he sold two of them. One was the
Kate Sheperd apartment that he occupied around the corner from
Premiere House, so he's now sold that. And there's an
outcry that he avoided the bright line test because the

(27:18):
National government changed it to back what it used to
be at two years labor, extended it to five years,
which is a de facto capital gains tax anyway, So
you know, if he was wise and if he didn't
want to, if it was still at five years, of
course he wouldn't have been selling the Kate Shepper department.
I mean, that's what anybody would do. He didn't need

(27:40):
to sell it, but he thought, well, I'm not living
there anymore, so why not. And I've got to say
Luxelon's making no apologize apologies for selling his apartment out
of profit, which of course he shouldn't. Here he is
with Heather this.

Speaker 8 (27:53):
Morning the parents at school sixteen.

Speaker 18 (27:54):
I went to university, did well in the world's successful,
get it right, and I've chosen to come to politics
because I want to add back to He's on.

Speaker 8 (28:00):
So that's my reason for it.

Speaker 18 (28:01):
But if we're going to criticize people for being successful,
and you know, let's be clear. You know I'm wealthy,
I'm sorted.

Speaker 19 (28:09):
Have you seen what your Cinda's doing? Chris, after this,
you can you can go on to speak your circuit. No, look,
you can make as much in one gig speaking as
you do on your property.

Speaker 18 (28:18):
Like that won't be my focus. There's a lot of
other things to do post politics. But right now I
am absolutely determined. We have a great future. We've got
a great potential on this joint and I'll tell you.

Speaker 9 (28:27):
I'll tell you in a sec what Jasinda Dern is
allegedly making speaking on that circuit. But look, the politics
of MV and my view is alive and well, and
it certainly was a stand up in Auckland yesterday with
this question, probably the dumbest I've heard for a long time.

Speaker 8 (28:45):
Are you enjoying the Sky TV?

Speaker 5 (28:47):
Sorry?

Speaker 20 (28:48):
Are you enjoying the sky TV?

Speaker 8 (28:49):
For what purpose? What's your question about? I haven't I've
just moved into Premier House so he.

Speaker 9 (28:55):
Didn't have the chance to watch it. And if anybody
suggests that the Prime Minister shouldn't be getting Sky TV,
they need their head red because this man has got
to keep up with what's going on in the Middle East.
He's got to keep up around the world. He's not
going to get it from TV and Z, He's not
going to get it from TV three. So you know,
are we going to now the grudgeam getting sky TV?

Speaker 11 (29:19):
But just Deurn?

Speaker 9 (29:20):
Yes, on that international circuit, Jack, You'll be pleased to
hear that she apparently has joined the top tier of
political celebrities and international speakers, and one of the organizations
they claim to represent dern on the Asian market, told
the media that Durn's fee for events was about three

(29:43):
one hundred and sixteen thousand dollars for getting up beating
her gums.

Speaker 2 (29:48):
Honestly, I mean, if that's true, I.

Speaker 9 (29:53):
Say, I know you're a bit of a fan of
All I can say is hopefully for this international speak
making circuit. She says more to them and more interesting
than she was when she was in this country. But
the thing, isn't it she had this international celebrity. I
traveled with her throughout her Prime ministership overseas. They loved

(30:15):
her because she was young, she had a child out
of wedlock to some of them that used to want
her to come in and discuss, you know, the pros
and cons. So she's famous internationally and cashing in on
it very quickly.

Speaker 2 (30:31):
John Key is pecking a Donald Trump.

Speaker 9 (30:33):
Whin Yeah, was sort of reluctantly in a way. He
said that if you talk the economy, he would prefer
Donald Trump. Although the tariffs that Donald Trump has been
promising up to sixty percent in the case mainly of Chinese,
but ten percent with the likes of New Zealand. You know,

(30:53):
he said he'll probably come in economics for New Zealand
though is not going to be great.

Speaker 2 (31:00):
No, hey, thank you so much. Barry, I appreciate your
time as always. Barrie Sober at seven to.

Speaker 1 (31:04):
Five, putting the tough questions to the newspeakers the mic Hosking.

Speaker 19 (31:09):
Breakfast and studio Wells. We have Christopher luxon the Prime Minister.
I've got to talk about the Dunedin Hospital. Why don't
you guys not find one point one billion bucks just
to get these guys what they want?

Speaker 18 (31:19):
Yeah, look, I mean it's frustrating for people, and I
get it's frustrating for us as a new government inheriting
the project.

Speaker 8 (31:23):
It started off at one point two billion.

Speaker 18 (31:25):
A latest review suggesting it's going to be approaching three
billion dollars, which would be without doubt the most expensive
hospital in the history of the Southern Hemisphere. So the
challenge we've got is that we are very committed to
building a new hospital and then don't get me wrong,
but we've got to do it within the one point
nine billion dollar for school envelope. Otherwise that means that
we can't do from are trom Parmesan or Nelson other
regional hospitals.

Speaker 1 (31:45):
Hither dupusy Ellen on the mic Hosking Breakfast Fact tomorrow
at six am with the Jaguar f Base US talks
head by.

Speaker 2 (31:52):
Tell you that Barry Sober is a trouble maker, just
like his wife, saying, oh, you're a fan of just
and writed I'm not a fan of any That is
my position and thank you for your text and emails.

Speaker 11 (32:05):
Jack.

Speaker 2 (32:05):
Seriously, if Jacindra Ardern made a profit on her house,
which I'm sure she would when she sells it, does
it really make the news. Well, I can tell you
that personally I have questioned her several times before in
pretty tense exchanges regarding her tax position on her own house.
We are going to have more to say on capital
gains tax after five o'clock this evening, so prepare for

(32:28):
your blood to boil. As well as that, we're going
to take you for the very latest on the situation
in Lebanon. So if you're just joining US, Israel has
started some what it says are relatively small scale ground
operations in southern Lebanon at the moment. There have also
been explosions in Beirut, explosions in Damascus and Syria as well.
We'll get the very latest on that. We'll tell you
about the ComCom, which has just released its decision on

(32:49):
the proposed merger between the food Stuff's North Island and
South Island operations. We're going to go to the food
Stuff North Island Operations CEO, get him to give us pitch.
Why should they be allowed to join when there's so
much concern about competition or lack thereof in the supermarket space.
It's almost five o'clock though. I'm Jack Taman for Heather

(33:10):
News is next on Newstalk ZB.

Speaker 1 (33:17):
Pressing the newsmakers to get the real story. It's Jack
tame on Heather duplicy allan drive with one New Zealand
let's get connected, new Stall said.

Speaker 2 (33:27):
B Israel's Defense Force says it has begun a quote
limited localized ground defensive against his baller targets in southern Lebanon,
opening a new front in the Middle East conflict. The
IDF released a statement saying its targets were located in
villages close to the border that posed an immediate threat
to Israeli communities. International relations expert from Otago University, Robert Patman,

(33:51):
is with us this evening. Just how significant is this?

Speaker 21 (33:54):
Robert, Oh, good evening, Jacob. I think it's very significant
and it shows what many people feel that the Galza conflict,
which is the root of the problem at the moment,
always had the potential to culminate in a wider regional war.
And we'll beginning to see this now. And the interesting
thing is, if you look at the Israelian cursion today,

(34:14):
it's quite similar to the Israeli invasion of Lebanon June
eighty two in that both that they both had their
roots in the Palestinian Israeli conflict, much as the fighting
does between Hezbullah and Israel today, and that is really
the root of the problem.

Speaker 2 (34:32):
It seems to me what kind of retaliation should we
expect from Hisbola.

Speaker 21 (34:38):
Well, it's clearly been I think severely degraded by the
pummeling they've taken. They've been on the receiving end of
exploding communications devices as well as air strikes. They've lost
their leader. So yes, I think they're going to be
militarily in retreat. But there's not a literary you know,

(35:01):
great Ever, greater applications of military power is not going
to solve the political problem that Israel faces. And you know,
for the next six months, I think Israel, with its backing,
generous backing from the most powerful country in world. The
United States has the upper hand against groups like the Whotis,

(35:21):
has Bulla and of course in Gaza, but that is
also particularly the loss of civilians in Lebanon as well
as the lots of civilians in Gaza, is fueling anti
Israeli feelings, which you know are going to have long
term consequences.

Speaker 10 (35:38):
Unfortunately, is this.

Speaker 2 (35:40):
Still concern about Iran getting involved now? How likely is that?

Speaker 21 (35:45):
It can't be ruled out? But I think the Iranians
have been very cautious so far around. Although it's a
big power, big in regional terms, a country of more
than one hundred million, it's certainly supporting groups like the
Whoties and has Bulla, and I think it will it
will certainly try to, if you like, support these proxy

(36:09):
groups or partner groups, depending on your terminology. I don't
think it would want to get directly involved, and it
would probably recognize that if it did get directly involved
in the United States might escalate its own involvement from
going from a generous supporter of Israel to actually involved itself.
So I think both ironically both Iran and America want

(36:33):
to stay out of this escalating situation. But as we've
seen Jack with previous conflicts, it's not the intentions of
the parties that determine events. Sometimes events have, if you like,
become inadvertent that conflicts, you know, do not always go
according the plan, and the fog of war occurs and
we get unintended consequences. This is what's so dangerous about

(36:57):
this situation with Israel effectively invading a sovereign country, bombing
the capital against the terror targets.

Speaker 5 (37:06):
But this has far.

Speaker 21 (37:08):
Reaching consequences and you know the experience of Israel on
nineteen eighty two must be sobering. Has Buller was born
out of the Israeli invasion of Lebanon and now it's
re entered Lebanon to deal with you know, the leadership
of has Buller which had its origins in the previous incursion.

Speaker 2 (37:30):
Thanks for your time and expertise. As always, we appreciate
it that as Professor Robert Hampman from Otago University. Right now,
it's eleven past five, Jack Team, and the Commerce Commission
has rejected food Stuff's proposal to merge their North and
South Island entities. The report sites concerns around market competition
and the effect on suppliers, reducing major buyers in New
Zealand from three to two. Chris Quinn's food Stuff North

(37:52):
Island CEO and is with US skilled up as it stands,
Chris to the North and South Island food Stuff US
arms compete not at all.

Speaker 22 (38:03):
So they are, you know, we are entirely separate from
a geographic point of view. You know, it's one of
the wonders of New Zealand that the North and South
Island geography is quite separated, and we have you know,
the merger proposal was essentially going to see the same
stores and the same communities owned by the same families
and bringing together the support operation for the retail stores,

(38:27):
which is out of sight of customers and part of
retail competition, bring it together in a more efficient way
so that we could keep delivering value and innovation for
New Zealanders. That's the disappointing thing about today's outcome.

Speaker 2 (38:38):
Yeah, what do you think of the ComCom decision? Why
do they make it.

Speaker 22 (38:43):
Look we're not clear on the why yet. We've got
a press release we've seen today. We have been told
that we will get the full explanation of the decision
by the twenty third of October. You know, we'll do
the right thing, which is to wait for that and
read it through and properly understand it and understand the
points that are in there. But at this point in time,
we don't understand why we have failed to be successful,

(39:07):
which with what is a pretty known legal test for
these events.

Speaker 2 (39:11):
Yeah, I mean, I mean the question is whether or
not going from what the ComCom says as effectively three buyers,
but having those two separate entities become one will mean
that from a suppliers perspective, you as the buyer have
more power or less power than before. And in the
eyes of some going from two to one will mean
you have more power when negotiating with supplies.

Speaker 11 (39:33):
Right.

Speaker 22 (39:35):
Yeah, Look, I think the acquisition market argument that it
was mentioned in the press release and we'll wait for
the detail, but essentially what we have today is an
organization that buys in the North Island and another organization
that buys on the South Island in terms of the
large grocery retailers that sits alongside our competition war Worse Australia,

(39:56):
and what we would have after a merger is two
players in the North and the South Island, each so
our view was it doesn't change the number of channels
available to supplies. For one hundred and two years, we've
been really proud to work alongside a hip hop New
Zealand supplieres and bring them to life through one store
at a time, or ten stores, or one region or

(40:16):
one of our three retail manners.

Speaker 5 (40:18):
So all of.

Speaker 22 (40:19):
Those things we think we're part of the reason why
we saw benefit in this for our supplier partners.

Speaker 2 (40:24):
Is this going to the High Court?

Speaker 22 (40:27):
Look, we're going to wait until we get the determination
document from the Commission. We'll properly read it and consider
it openly.

Speaker 2 (40:34):
That's option.

Speaker 22 (40:34):
But based on what we know today, we can't see
why we've failed the legal test here and if there
isn't anything new from the process we've been in for
the last ten months, we would likely appeal this.

Speaker 2 (40:46):
Thanks Chris, appreciate it. That is Chris quin food Stuff's
North Island CEO ninety two. Ninety two is the text
number if you want to contact us, it's fourteen past five.
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(41:51):
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d eighteen past five on news Talk Z'DB. They are
simultaneously the most loved and maybe most detested shoes of
all time. Crocs are causing trouble and acc is being
left to foot the bill. So we've just reached October

(42:13):
and already have had more CROC related injuries this year
than last year. Nearly two million dollars has been paid
out to people with full related claims involving jandles, high
heels and crocs and acc injury Prevention spokesperson James Whittaker
joins us now kelder James, Hey, Jack, how do you

(42:33):
hurt yourself in a croc?

Speaker 5 (42:36):
Well, most people are like bolling their ankles or slipping,
but also they might not wear them at the right time.
So crocs might be if you're just being around a
barbecue or standing there at the beach, but maybe people
are doing other things on them too, like running or
you know anything else.

Speaker 2 (42:54):
People are running and crocs. Is it a kind of I.

Speaker 5 (42:58):
Have seen it. I have seen it.

Speaker 23 (43:00):
Hey.

Speaker 5 (43:01):
The really important thing is or should wear whatever shows
they want to, but at the right occasion. Right, So
we have sense, as you could call it. But the
other important thing that listeners should know is that this
is a tiny problem, and it's a small problem can
bet a much bigger problem with falls.

Speaker 13 (43:19):
Falls.

Speaker 2 (43:21):
Oh, hang on, James, we're losing you there. We'll see
if we can get a nice and clear So I
think James was saying that the falls were a problem.
So if you break down those full related claims from
those three different sorts of shoe, the sort of shoe
that has evolved with the highest number of claims for
acc is jendles, then it's high heels. I'm getting a
little bit surprised by that. You'd almost be high heels
to be better. Crops comes in through what were you saying.

Speaker 5 (43:43):
James, What I'm saying is crops and jandles are a
small part of a much bigger problem, which are trip
slips and falls in general. Because around seven hundred thousand
people have a fall related claim supported by a SEC
and any given year, and it costs around two billion
dollars to support as people. And each one of those

(44:05):
people would have their own story too, So they might
have what others seem to be a minor injury, you know,
like rolling the ankle or something, but they might be
into dancing well that they might have been about to
have a really important football game or something like that,
and then there's lots of slower and effects for their team,
perhaps their workmates and everything else too. And the cool
thing is it's all preventful if you wear the right

(44:28):
SHOs for the right occasion, you probably won't get injured.
Or you know, if you clear part in front of
you and make sure there's nothing to trip over, you
probably won't have that trip or that slip. The other
thing is some of your listeners might be over fifty
five years of age, and that can greatly reduce their
times of having a full by doing strength and balance

(44:48):
classes or by using this called the nimble app and
that's nimble with or y so n by NBL.

Speaker 2 (44:56):
Very good. Okay, Hey, thanks your time, James, We appreciate it.
Just go with numbers. Ten of those claims, this isn't funny,
I shouldn't, I should laugh. Ten people were quote struck
by a person or animal while wearing crocs. I feel
like there's a story behind each one of those.

Speaker 7 (45:10):
Right.

Speaker 2 (45:10):
Twenty one plus five. On news talks, he'd be the.

Speaker 1 (45:13):
Day's Newsweakers talk to Jack First, Jack dame On, Heather
Duplessy Alan drive with one New Zealand let's get connected
news talk.

Speaker 2 (45:22):
Said be when cleaners earned wages, cleaners pay tax, When
truck drivers earn wages, truck drivers pay tax. When teachers, paramedics, plumbers, receptionists, doctors, designers, mechanics,
office managers, sheer milkers, check out operators, mental health nurses.

(45:46):
When they earn wages, they pay tax. The people who
the people who staff dementia homes, the people who guard
dangerous prisoners, sparkys pickers, even the people who investigate and
clean up fatal car accidents, they all pay tax. Christopher

(46:09):
Luxon suggests that the questions about his property sales stem
from envy or because people resent his success. Now, I
just don't think that's the case. I think it's simply
a question of fairness. Why should someone who is aspirational,
someone who's getting off their butt and working multiple jobs
to make a better life for their family, who's sacrificing

(46:33):
time with their loved ones, who's sacrificing sleep, maybe even
sacrificing their health, why should they pay tax at the
marginal rate while someone else can make a six figure
profit buying and selling property within a few years and
not pay a cent. Look, maybe you'll argue that it's
a question of risk. Right, someone who's got the means
and the initiative to buy a property does so knowing

(46:55):
that profits are by no means guaranteed. If you're renting
it out, a tenant could cause damage, the market could sour.
You know, we all agree there's no such thing as
a one hundred percent safe and guaranteed investment, right, but
come on, the odds are pretty good. In recent decades,
property values in New Zealand have increased in value at

(47:17):
a rate much greater than inflation over time. How many
people who buy property make a net profit when they
sell it versus how many people make a net loss?
Do we really think that the investment risk is so
great that it justifies zero tax on that profit. Wouldn't
something be fair, something like five percent, ten percent on

(47:41):
the profit, not the marginal tax rate, but something.

Speaker 11 (47:45):
Yeah.

Speaker 2 (47:45):
Christopher Luxen says he gets questioned for being successful. Personally,
I don't resent his success for a moment. I think
success should be celebrated. But I do question how anyone
can think it's fair that someone trying to emulate that
success and getting ahead using their initiative, working fifty or

(48:06):
sixty hours a week, why that person should be taxed
on that income at the marginal rate. While a prime
minister or a politician or a broadcaster can theoretically make
a low risk investment a six figure profit, and not
pay a cent. Jack Team ninety two is the text number.

(48:28):
I'm sure no one's got any thoughts on that, so
that's a relief. Before six o'clock we'll get the other
the huddle thoughts of the Prime Minister's comments. I've got
to say, I do think the Prime Minister being questioned
about having SkyTV at Premier House is just totally in
reason why. Actually think most of the questions about Premier
House have been totally unreasonable. But I do think it's
entirely reasonable to ask about a tax policy for something

(48:48):
like a CGT. Coming up before six o'clock. New data
suggests that young men are increasingly turning to steroids and
similar drugs because of body imagicus. We'll tell you a
little bit about that. News is next, though it's almost
five thirty. On News Talks dB.

Speaker 1 (49:08):
The name you trust to get the answers you need,
Jack Tame on Hither Duplessy Alan drive with one New
Zealand let's get connected. A news talk said b s Bread.

Speaker 20 (49:25):
Baby, you blame me, baby, I blame you.

Speaker 1 (49:30):
That antitude.

Speaker 2 (49:35):
Us talks V you with Jack Tame, thank you for
your texts. Been in one or two Jack I'm totally
with you on the tax and working my butt off
to improve my life. Suddenly I lost all of my
hard work because psa hit key, we frute to value
my ass it by more than sixty percent. Now I'm
driving a bus and freight delivery just to make ends
meet Jack. What a crass ignorant we rant? That was

(49:57):
all of those jobs you listed day too. People who
will be able to buy and sell property. Yeah, I suppose.
I suppose. The big difference is, of course, the profity
prices relative to incomes are a little bit different today
than they were thirty years ago when many of the
people who own the assets board assets for the first time.
But I'll get to more of your texts in a

(50:18):
couple of minutes. After six o'clock this evening some pretty
good economic news, and I say prett good because I'm
going to qualify it in a second. So the latest
ended a quarterly survey of business opinion is out and
it shows that just five percent of Kiwi business owners
are now expecting the economy to deteriorate or trading conditions
to deteriorate, compared to forty percent three months ago. So

(50:40):
that's the difference that the ocr cuts have made. That
being said, you probably don't want too much confidence at
the stage going into that next monetary policy decision next
week Wednesday, next week, that the real debate is twenty
five or fifty basis points. But I suppose of confidence
across the economy was trickling down to higher prices than
that would mean that the Monetary Policy Committee might be

(51:02):
a little more reticent in making big cuts. But anyway,
we'll take a close look at that after six o'clock
this evening. Right now, it is twenty three.

Speaker 3 (51:08):
Minutes to six, Jack team and.

Speaker 2 (51:11):
Young men are turning to performance enhancing drugs like bodybuilding
steroids in order to change their appearance. Has been fueled
by fitness and gym content online, and conversations about using
the banded substances are becoming more popular in gyms around
the country. David Gerrard is an emeritus professor in sports
Medicine at Otago University. Good evening, Good evening, Jack, So

(51:32):
what kind of drugs are young men in particular.

Speaker 13 (51:34):
Using, Well, Jack, The first thing is we have to
be very cautious about the use of the term steroids,
because I think what we're referring to here. Of course,
anabolic androgenic or masculinizing body building hormones, not the sort
of steroids that you and I would use to control
asthma or have an allergic condition. So I think we

(51:56):
clarify that one to begin with. We're talking here about
the illegal importation often and certainly the misuse of drugs
that were the preserve of medical science and clinicians who
have to deal with people who need testosterone replacement. It's
certainly not drugs to enhance the body image of young males.

Speaker 2 (52:20):
And what do you put it down to these guys
who just want to look good on Instagram?

Speaker 13 (52:24):
Yeah, well, I guess I guess we know a lot, Jackle.
We've read a lot, and appropriately so, about young females
whose body image is affected by eating disorders and wanting
to conform to the so called body image that's imposed
by the influences. And by that, I guess we mean

(52:45):
the culture of magazines and movie and TV. Same to
the males. You know, the body shape that's perceived perceived
as being ideal for a you know, a red blooded male.
I guess this is where it is. It's a culture
that's unfortunately crept in and it does seem to have

(53:06):
its genesis in and around certain gymnasia and the ambience
of that creates.

Speaker 2 (53:14):
So aside from being illegal, what is the problem with
young men.

Speaker 24 (53:18):
Using these drugs, Well, the problem is jack that these
were drugs, as I said, that really are for treating
patients who require them, who need a male hormone replacement.

Speaker 13 (53:32):
And if a set healthy young male uses these drugs, well,
for sure they will work in the sense that they
will enhance muscle bulk, but they carry with them some
very sinister side effects, including the male's impotence. The diminished
activity of one's test is because you're receiving exogenous supplies

(53:55):
of testosterone, so therefore your own body doesn't need to
produce it. You've got a whole raft of diseases associated
with the cardiovascular system, increased risk of heart attacks because
of the profile of cholesterol and triglycerides and lipids, mood changes.
Guys who are using these drugs in an uncontrolled way

(54:19):
can show uncharacteristic aggression, and there's a whole array of
mood changes that are seen and people. Then there's the
risk of certain forms of cancer associated with long term,
prolonged use of anabolic steel wids. So there's a whole

(54:39):
raft of reasons why young men should not be dabbling
in this in an uncontrolled way.

Speaker 2 (54:45):
Yeah, hey, thanks for your tome, Dove. We appreciate it.
That was David Gerrod, who is an emeritus professor in
Sports Medicine at Otago University.

Speaker 3 (54:53):
Is nineteen to six The Huddle.

Speaker 1 (54:55):
With New Zealand Sutherby's International Realty, Local and Global Exposure Lightening.

Speaker 2 (55:00):
The Huddle this evening Philo Riley, Iron Duke Partners and
former Boss of Business New Zealand and Alie Jones from
Red PRK Elder Cordawa. Jack, Hey, Pphil, do you reckon
this is something that we overlook when we think about
you know, body I magician's affecting young people. A lot
of the focuses on young women. But do you think
this is something that perhaps has been a little overlooked.

Speaker 7 (55:20):
Oh, Ye're absolutely right, Jack. There's always a been a
bit of this ione I remember living in Sydney, you know,
twenty five thirty years ago in some gyms in Sydney
there was I think called roid rage, you know, where
the steroids were in use to they get these mood
changes and so on. But of course it was a
very niche thing. And what's happened is the emeritus professor
there is absolutely right. What's happening is actually social media.

(55:41):
He mentioned movies and stuff as not movies. It's social media.
It's Instagram, it's TikTok, it's Facebook, it's the kinds of these,
the kinds of social media outlets that the young people
are using these days, and that is causing some of
these problems as well as other social changes. You know
that the kids aren't be allowed out to play in
the park and so on, so they stay inside and
watch social media and so on. So there's a real

(56:03):
issue here about the popularization of this these body images.
And you're absolutely right. We concentrate a lot on young women,
and that's entirely appropriate. We do that because there's some
real risk risks there. But we're also needing to have
a look at young men because they've got similar and
also different issues associated with the social media issue. And
so I think we need to as a nation ever
think about this. And yeah, banning cell phones from schools

(56:26):
is just one good step.

Speaker 2 (56:27):
Oh you see, I'm one hundred percent with you on this. Well,
I just I can't understand the opposition to cell phones
and schools. And I know that maybe it seems a
bit trite and easily just to blame social media for
these kinds of trends, but it seems so obviously I
assurely social media is having a negative impact.

Speaker 19 (56:42):
Well, of course it is.

Speaker 25 (56:43):
I mean, I'm in my fifties, our kids are now
sort of in their twenties. But I've got a girlfriend
who works at a high school in christ Church and
she is saying that a lot of the stuff that
they're seeing in the kids, the anxiety, the you know,
set in guessing, the body image stuff is all related
to social media. What I really liked that I heard

(57:03):
from the professor then, was he mentioned women, And I
think that's really important and filtered too, and it shouldn't
be a competition, right, But you know, women have been
dealing with this decades and decades, and in fact, there
isn't the health support around this for women, and we
need to. I mean, young women are being sent home

(57:24):
in christ Church to die, and I know that I'm
not just making that up, but they cannot look after them.
They're sending them home to die. So I think there
needs to be a public information campaign. It needs to
get into schools, you know, to hear those things that
he was talking about, anxiety, mental health, impotence, fertility, cancer. Man,
get it into the schools and start saying is it

(57:45):
worth this?

Speaker 26 (57:46):
Do you think?

Speaker 9 (57:46):
Yeah?

Speaker 2 (57:47):
All right, guys, I'm going to get your thoughts on
the Prime Minister's comments today in a couple of minutes
plus news that crocs are apparently causing US hundreds of thousands,
if not millions of dollars in health claims every year.
Alie Jones and Phil O'Riley on the Hut right now
at sixteen to sex.

Speaker 1 (58:02):
The Huddle with New Zealand Southeby's International Realty, elevate the
marketing of your home.

Speaker 2 (58:08):
And you're back with the Huddler's fell O'Riley, Iron Duke
Partner's former boss of Businesses Zealand and Alie Jones from
Red PR. So, Ali, what do you make of the
Prime Minister's response to the scrutiny or attention over the
sale of his properties.

Speaker 25 (58:20):
He's out of touch. He is absolutely out of touch.
It is not about resenting his wealth or someone who's successful.
I do think we have a tall poppy problem in
New Zealand. But you know you have to point the
finger where it's correct to do so. I think it's
about what's reasonable and what is not reasonable, And I
think what is not reasonable in this case is that
someone makes that amount of money from selling a house,

(58:41):
which is essentially income and isn't taxed, and yet everyone
else earning twenty k, twenty five k, thirty K, fifty k, whatever,
they are taxed for their income. Now, if Christopher Luxen
and others can't see that they should be taxed for
making that will making any money from the of a property,
they're out of touch, completely.

Speaker 8 (59:02):
Out of touch.

Speaker 2 (59:03):
Well, I don't think they're out of touch with a
lot of our listeners, because I know that a lot
of people will support Christopher Luxe in in this position.
But I don't know. In my view, it's a question
of fairness.

Speaker 7 (59:12):
What do you think, Phil, Well, of course we're going
to have the Prime minister. Where's a proxy for this
debate that the Left appears to want to continue or
gain text with what we want to charge them a
wealth tax too? So soon it's just we're using him
as a proxy for a wider debate, and that's entirely appropriate.
That's I understand he's the Prime minister. Here's the danger, Jack, Yeah.
Other people will be listening to all of that and

(59:34):
seeing that, seeing the stuff he's going through, whether he's
handling it well or not, and I'll be saying, gee,
I'm not sure I want to stand for political office,
so this is going to go on about my personal affairs.
So I just need to be a bit cautious about
this kind of gotcha politics around politicians off left all
the right, and because all it does is it says
less good people will stand up and say, you know,
I'll stand for parliament. I'll make a contribution. And that's
what he said he was trying to do. By the way,

(59:56):
he didn't make his money through his parents or anything else,
made it himself. We should be celebrating that in New
Zealand and not turning it into a bit of a
you know, a cat call about the texts.

Speaker 25 (01:00:07):
I think that's that's not fair. Now I'm going to
jump in here. That is not fair when you've got
someone who's making over two hundred K on the sale
of a property, and this is someone who's quite happy
to tax New Zealanders who are struggling earning money. I think,
as you said.

Speaker 8 (01:00:21):
Before, Jack, to.

Speaker 7 (01:00:23):
Look at game a tax cut.

Speaker 25 (01:00:24):
Yeah, but it doesn't work. He gives us mates a
tax cut.

Speaker 17 (01:00:27):
Phil.

Speaker 25 (01:00:27):
What he needs to understand is that what he's making
on selling a property and what everyone else is is
essentially income. Why should he be any different to anyone
else making income.

Speaker 7 (01:00:37):
So have a debate about capital games tax don't need
to pull luctionin into it's my point.

Speaker 11 (01:00:40):
Yeah.

Speaker 2 (01:00:40):
So Phil, just on your point though, like, don't you
think as Prime minister, given like tax policy is so
central to central government politics and central to his role,
don't you think it is kind of really important that
actually we do look at tax policy through the lens
of his own experience.

Speaker 11 (01:00:58):
Yeah.

Speaker 7 (01:00:59):
Sure, I mean it is a thing. He's Prime minister.
He's a big boy, can stand up for it, and
he did today with doally good job down to people
to judge. My point is we need to make sure
that we don't just jump all over politicians of the
left all the right. I've seen this happened to politicians
of the left and the rights using personal circumstances to
really have a red hot go and what we what
we'll see is good people will say that public life

(01:01:22):
is not for me, and that's a bad thing for
out democracy. So we should just be cautious about overdoing
this and turning on I think he's a.

Speaker 25 (01:01:28):
Big boy, Phil, I think he's a big boy. If
he can't manage that, he shouldn't be there.

Speaker 7 (01:01:33):
He might be, but others might not be. They might
be thinking, I don't want to into political life.

Speaker 2 (01:01:37):
Yeah, I don't. I want to have my own affairs affairs. Yeah, Hey, Phil,
are you a crocs kind of guy?

Speaker 11 (01:01:45):
Mate?

Speaker 7 (01:01:45):
I have banned two types of shoes in my office.
One is that and one is Birkenstocks. It's a it's
a dismissive of my staff. Will tell you if they
were either of those in the office, Crocs the worst.
They should just ban them. They should be taken off
the face of the earth. These things there. Not only
are they danger as we now see, they're also ugly,
and so I just take of you. If I see
people on crocs, you know, leave my office. Please go

(01:02:06):
go do something else.

Speaker 2 (01:02:07):
Yeah, what do you think, Elie, I'm I'm well, I'm
surprised to learn that they're linked to so many injuries.

Speaker 25 (01:02:13):
Oh look, it was a clickbait headline crocs shot the
shoes that cost ACC to million.

Speaker 2 (01:02:18):
What a load of rubbish.

Speaker 25 (01:02:18):
ACC paid out nearly two million to people with full
related claims involving jandles, high heels and crops.

Speaker 8 (01:02:25):
And I just want to mention to you.

Speaker 25 (01:02:26):
Do you know how many claims going for people getting
their toes stuck in pajama trousers and falling over?

Speaker 3 (01:02:31):
Oh go on, there is a massive number.

Speaker 2 (01:02:33):
I don't know.

Speaker 23 (01:02:34):
I read it somewhere.

Speaker 25 (01:02:34):
I thought you might know that it's it's a significant number.
So what do I think we should bam pajamas as well?

Speaker 12 (01:02:41):
Yeah?

Speaker 2 (01:02:43):
Everything, tax everything, that's us. Hey, thank you so much, guys.
I appreciate your time. This evening fellow Riley and Ellie
Jones Huddler's this evening after six o'clo, we're going to
catch up with Brad Olsen from Inframetrics. The latest construction
consents data is out shows a twenty percent drop year
on year, and of course, even if the Reserve Bank
continues cutting the OCA, there's likely to be a bit

(01:03:04):
of a lag, a bit of a delay as to
how long that takes to flow through to the construction
sector at large. That being said, Infrastructure and Housing Minister
Chris Bishop has some big plans for his portfolios in
the coming month, so I'll ask Brad Olsen how those
central government policy changes might impact the construction sector over
the next week. While right now it's eight to six,

(01:03:26):
you'll projectame on Newstalk ZB, on.

Speaker 1 (01:03:29):
Your smart speaker, on the iHeart app, and in your
car on your drive home. Heather Duplic Allen drive with
one New Zealand one giant Leap for Business News Talk.

Speaker 2 (01:03:39):
As B Newstalks EDB, thank you very much for your feedback.
We have had plenty of texts and emails regarding tax
and whether or not the Prime Minister should be paying
any on the sale of his properties. Jack, I totally
agree with you. We are when we are you absolutely correct.
We are one hundred percent overdue for a capital gains tax. Jack,

(01:04:00):
talk about the politics of MV. As far as I'm concerned,
the Prime Minister's personal finance should be left out of things. Jack,
leave Christopher Luxen alone. It's no one's business investments are
bought and paid for by money that has been earned
while at the same time being taxed. End of story. Yeah,
I mean I do. Yeah, I get that point. I

(01:04:20):
just think if you look at the New Zealand tax
system as a whole, I'm still yet to have anyone
explain to me why it's fair that someone on the
median wage paying an effective tax rate of twenty percent
on about seventy thousand dollars of income per year, why
that person should be taxed. But someone who makes a
profit of a few hundred grand from selling a property
in the space for three or four years, why that
person shouldn't have to pay a cent? Explain to me

(01:04:42):
why that's fair. Please. Ninety two ninety two is our
text number. I will get to more of your feedback
on that after six o'clock plus. Crocs, Jack. I love
to hate crocs, but honestly I also love to love
my crocs. I wear them tramping up the mountain. They're
perfect for crossing creeks and rivers. You get your feet,
but then after a couple of minutes they're dry. I'm
just I've never worn a croc, don't really aspire to

(01:05:05):
ever wearing a croc. Although when Phil said Birkenstocks abandoned
his office, well that meant that my post broadcasting career
has lost another potential employer a bit of a Birkenstocks fan.
I am a bit of a Birkenstocks fan, so apparently
I won't be going to Phill's place anytime soon. Ninety
two ninety two. If you want to send us a message,
Jacket News Talks 'db dot co dot nz is the
email address. After six o'clock this evening, we're going to

(01:05:27):
catch up with Zedia's deputy chief executive on their latest
quarterly survey of business opinion. It does show a massive turnaround,
so of course in the last three months, it's the
last time they did their survey, we've had the OCR cut.
So now from forty percent of businesses who were feeling
pessimistic about the economic outlook three months ago, just five

(01:05:48):
percent of businesses are expecting economic conditions to deteriorate. However,
there are a few fishocks in the data, so we're
going to get to that as well. Plus, the latest
construction conting numbers are out. They show that big twenty
percent drop. What's it going to take to turn that
around and just how much of a lag is there
going to be as the OCR makes its way down

(01:06:11):
twenty five or fifty basis points coming Wednesday of next week.
Most economis seem to be pretty divided on what's more
likely at this stage, but either way there is likely
to be a bit of a delay before we see
the full impact in the building sector. It's almost six o'clock.
You were jactam in for Heather. This is Newstalk's eDV yem.

Speaker 11 (01:06:32):
What's down?

Speaker 1 (01:06:33):
What were the major calls and how will it affect
the economy of the bigger business questions on the Business
Hour with Jack tam and My Hr on Newstalk's eDV.

Speaker 2 (01:06:47):
Newstalk's EDB. You were jactam in for Heather. We'll catch
up with Jamie mackay from the Country very shortly. Another
key global dairy trade auction tonight, so we'll get his
thoughts on that, might get some perspective on those Sinle
results as well. We'll take a look at a construction sector.
What's it going to turn take to turn around? The
number of consents down twenty percent year on year compared

(01:07:07):
to this time last year and obviously a bit of
a lag even once that monetary policy starts to be
eased a little bit. So we'll catch up with Brad
Olton from informetrics on that very shortly right now though
it is seven minutes past six and signs of optimism
among New Zealand's retail sector. The latest ended IR quarterly
survey of business opinion shows owners are less pessimistic about
the economic outlook. So it now sits at just five

(01:07:29):
percent five percent expecting deterioration in our economic conditions compared
to forty percent three months ago. So that's a thirty
five percentage point turnaround. Inseder says the results could make
a case for another official cash rate cut next week.
Christina Jung is the Ensediar Deputy Chef Executive and is

(01:07:50):
with us this evening. Good evening, Kyoda. Hey, we'll get
onto the sentiment data and a couple of minutes, because
I know that'll come as good news to a lot
of firms out there. But let's start off with the
latest trading data. What do your numbers say about demand
over the last quarter.

Speaker 26 (01:08:04):
So our latest NDA quarterly, so our business opinion does
show that demand in the September quarter remained weak, with
a net thirty one percent of firms reporting that they
face reduced activity in the September quarter.

Speaker 2 (01:08:17):
Right, okay, And how is that likely to change over
the next three.

Speaker 26 (01:08:21):
Months when we look at expectations for the next quarter. Though,
even though right here, right now, across a wide range
of measures, firms are reporting quite weak demand in the
September quarter, expectations for the next quarter are looking more positive.
And that's particularly for the case for sectors such as
retail and services, to the extent that these are the

(01:08:44):
sectors that are more exposed to the household sector, we
see the impact of law interest rates as having more
of a positive impact on these areas.

Speaker 2 (01:08:53):
Yeah, I mean, that's that is a remarkable shift. So
you've gone from well a net thirty one percent of
firms reporting a decline in activity in the in the
quarter to September, but two percent of firms are expecting
weaker activity in the next quarter. So you know that
that is a massive shift. And what about ninety five
percent of that is down to the ocr.

Speaker 26 (01:09:13):
While we don't dwelve into US firms the reasons for
how they're expecting or feeling the way they do, what
we have seen also over the quarter is that when
we ask firms, particularly when financial services firms, their expectations
for interest rates, an overwhelming majority of firms are expecting

(01:09:34):
low interest rates for the coming year, and the fact
that we're seeing this recovery in sentiment most apparent in
the retail and services sector, it does suggest that the
impact of interest rates are having more of an immediate
impact on these the house sector, for which these sectors
tend to be more exposed.

Speaker 2 (01:09:53):
Right, So what sectors are less exposed to the household
sector than it and perhaps feeling a bit more downbeat
or pessimistic.

Speaker 26 (01:10:00):
So we do see the building sector and also the
manufacturing sector remains fairly down beat. For the building sector,
that reflects the fact that construction demand is still pretty weak.
And also where we ask architects what their expectations are
for construction work based on work in their own office,
we can see that the pipeline across our housing, commercial

(01:10:22):
and government construction work our week for the coming year,
there are signs of an improvement beyond the coming twelve months. Though,
when we ask architects in two years time what they're
expecting in terms of that pipeline of construction work, there's
actually an improvement. Expectations of improvement for housing and commercial construction.

Speaker 2 (01:10:41):
Okay, is that just down to the lag in the
monetary policy cycle. You know, basically it takes the time
for the full weight of those interstrate cuts to be
felt across the economy.

Speaker 26 (01:10:52):
We would say part of that is the reason. Also,
for example, if we look at the fact that we're
firms asking them about hiring and investment intentions, despite the
fact that their firms are expecting demand to pick up
in the next quarter. When we ask them about their
intentions expansion plans, for example, in investment, they we can
see that firms remain quite cautious. For example, a quarter

(01:11:15):
of firms are expecting to reduce investment in buildings over
the coming year. So that does suggest that while there
is that expectations or hope optimism that things will improve
in the next quarter when it comes to actually putting
in place expansion plans. Until that our firms are feeling

(01:11:37):
more conviction of a sustained improvement in demand, we do
expect that that caution towards hiring an investment will remain.

Speaker 2 (01:11:44):
So go back to that headline figure, net five percent
of firms expected deterioration in general economic conditions over the
coming months. Compare that though the net forty percent from
the dune quarter, what does this mean for the OCE
artists next week.

Speaker 26 (01:11:59):
In terms of the rebound we can in terms of
that recovery and business confidence, it is looking quite a
more positive picture for the news and economy. Also the
fact that in this latest end I are call less
you've got business opinion, we're seeing a continue easing and
inflation indicators, and that's particularly the case when it comes

(01:12:20):
to pricing pressures. That's driven by the fact that in
this weak demand environment, booms in the manufacturing, building and
retail sectors report that they cut prices in the September quarter,
with the Reserve Bank highlighting that the change in price
setting behavior was one of the factors that provided them
with the comfort to start the easing cycle. We do

(01:12:43):
see this overall picture cautious optimism, but in an easing
inflation environment, as supporting the case for further OCO cuts.

Speaker 2 (01:12:52):
Yeah, twenty five or thirty, What do you reckon, Christina?

Speaker 26 (01:12:55):
I've been asked that a lot, and I would say,
based on today's results, you could argue the case for
either move. Really, certainly it's encouraging to see that continue
decline in the inflation indicated. We are expecting a twenty
five basis point the client at the upcoming meeting, and
that more reflects the fact that just with the commencement

(01:13:20):
of the easing cycle that we've just seen in August,
we're already seeing such a rebound in expectations. We feel
it's proven to be a more measured in the easing
cycle in order to be able to assess the impact
of the moves that it's done today.

Speaker 2 (01:13:35):
Yeah right, that makes sense. Hey, thank you so much.
Christina really appreciated that. Is Christina Lung, who is the
Deputy Chief Executive of the nzed IEA speaking of optimism
in the retail sector in Australia that there's real reason
for optimism. So retail sales have actually rebounded are almost
a percent compared to expectations, almost double expectations, which analysts

(01:13:56):
over there actually just putting down to the weather they
reckon it's been so warm August and Australia that actually
retail sales have been almost twice as good, or the
growth in retail sales has been almost twice as good
as they had been anticipating. So we're going to catch
up with Paul Bloxin from HSBC before seven o'clock get
his thoughts on that one, says Jack, the final quarter
of the year for US retailers is historically cyclically high.

(01:14:18):
That makes a lot of sense heading into Christmas and
the holidays. What we're after is the standard annual cycle
to be a positive boost augmented by interest rate cuts
to give us a macroeconomic acceleration and get us rolling
into twenty twenty five. Yeah, obviously a lot riding on
that call next week. Well, I think it's the second
to last call for the Reserve Bank for this year.

(01:14:40):
Twenty five or fifty basis points seem to be the
pick between most economists. I think the majority at the
moment probably picking twenty five, but still a bit of
data to come out before that decision is final. Right now,
it's quarter past sixty with Jack Tame. This is News TALKSZ'DB.

Speaker 1 (01:14:52):
Crunching the numbers and getting the results. It's Heather due
for ce Ellen with the Business Hours. Thanks to my HR,
the HR platform for SME on.

Speaker 11 (01:15:01):
News TALKSB.

Speaker 1 (01:15:05):
The Rural Report on hither do for see Allen drives.

Speaker 2 (01:15:09):
To the country. Jamie McKay is Weather's this evening, Good evening, sir,
Good day Jack such Yeah, nice to chant another key
global global dairy trade auction coming up tonight.

Speaker 13 (01:15:20):
Yeah.

Speaker 23 (01:15:20):
Well, of course, last week Froontarrah Jack came out with
that really good news headlined I guess by the nine
dollars forecast milk price for the season we're in at
the moment twenty four to five. We're expecting another positive
GDT auction tonight because the volumes are starting to fall
away seasonally from now on, and incidentally, the milk futures

(01:15:42):
for the current season are sitting at nine dollars twenty.
That's all good news. But even better news Jack, if
you're an organic dairy farmer, you got paid ten dollars
ninety two for kilogram of milk solids for your organic
milk this year, which is a record price, passing the
ten dollars eighty and the twenty two to twenty three

(01:16:03):
season the tenth or the fourth time organic milk has
exceeded ten dollars, and the margin between organic and normal milk,
it's just the stuff that comes off the average farmers
over three dollars. Remembering that the payout to the season
we've just finished with seven eighty three. So look all
and all, look, I know some farmers who are organic
and who are a two and they will were not

(01:16:26):
laughing all the way to the bank. It's expensive to make,
but they'll be you know, good times.

Speaker 2 (01:16:30):
Yeah, yeah, that's good to hear. Hey, the proposed closure
of the meat works in Timado is exacerbating the risk
that more of these announcements could be made around the country.
It feels like a bit of a theme at the moment.

Speaker 23 (01:16:43):
Ay, Well, yeah, the problem is, and you know, is
this going to be the first Is this going to
be the first domino to fall? How many other plants
might have to close due to excess capacity? And if
too many of them closed suddenly, then does the sheep
met industry or the red meatustry have enough critical mass
to run these plants? Look at it's tough. Kate Ackland,

(01:17:05):
the chair of Beef and Land New Zealand, was on
my show today, Jack and she's saying this is due
to a significant decrease in sheep meat prices over the
last few years, coupled with spiraling costs on the farm
and in the supply chain. Also, this the forestry argument,
and you've got to be careful where you tread on

(01:17:26):
this one. At the moment because the forestry industry in
itself having a really tough time at the moment. Businesses
are closing down and Gisbin it's the forestry industries are
responsible for about a third of the economic activity in
the Gisbon Tirafity Poverty Bay region. So tough times indeed.
And you know the sheep farmers are saying that the

(01:17:48):
forestry is responsible for land use change. I think that
slowed down to be fair to a fair degree. The forestry,
I guess, does have two bites at the cherry jack.
There is the log prices all there, very low at
the moment, plus the carbon credits you can collect along
the way.

Speaker 2 (01:18:04):
I know that at the moment it's just a proposal,
but what is your sense for if the plans go
ahead and about six hundred workers Alliance Group Smithfield Works
lose their job, what is going to be the impact
on that community?

Speaker 3 (01:18:17):
Intimado huge?

Speaker 23 (01:18:19):
I think it's the biggest employer huge And you know,
like I know, they've got to go through the consultation process,
check and I don't want to sound hard hearted about this,
but this deal is done. I think from the Alliance
Group's point of view, there is a silver lining, believe
it or not, in mothballing this plant and that Smithfield
basically sits in a quite a desirable part of Timaru.

(01:18:41):
The city has come out to meet the meat works,
no pun intended, and my understanding is a local developer
is going to bowl it all over and build houses there,
so instead of having a real cost or an impost,
the Alliance group will possibly come out of this on
the rights of the ledger. I think as bad as

(01:19:02):
for the meat workers of South Canterbury, that there's enough
capacity in the rest of their processing plants to handle
the lambs especially that are going to come forward this season.
Remembering Jack that Southland's been hammered by the wettest September
on record, there's going to be quite a few less
lambs coming to the market this year. Beef and Lamb
set a million less for prom for slaughter available this year,

(01:19:26):
or that number you can add to that, because mother
nature has played a bit of a cruel hand down south.

Speaker 11 (01:19:30):
A million less.

Speaker 2 (01:19:31):
That's that's that's extraordinary. I for one hadn't appreciated that
it was that significant. There's there's really something ain't Oh.

Speaker 23 (01:19:39):
Well, you look at the sheep numbers that are significant.
We've got twenty three million sheep.

Speaker 2 (01:19:43):
Oh yeah, yeah, the ninth yeah is just huge.

Speaker 23 (01:19:47):
Yeah, yeah, yeah it is. And you know, and that's
a million less lambs out of something like about fourteen
million available that that were born, So it's it's quite
a big percentage. But yeah, look, the sheep numbers are
in decline. Unless the price has improved, especially for lamb
remembering walls a bit of a dog at the moment,

(01:20:07):
those numbers will continue to decline. And it's sad that
an industry on which this country was founded, wool and
meat and sheep meat, is really struggling at the moment.

Speaker 2 (01:20:17):
Yeah, no, it really is. Hey, thank you so much,
Jamie appreciated as it always Jamie McKay, Host of the Country,
there with us this evening. Just so you know, there
has been a four point nine magnitude earthquake at the
top of the South Island this evening. It struck about
twenty five k's northeast of seven, so that's in Marlboro. Obviously,
the depth was about nine k's which is relatively shallow,

(01:20:39):
means a lot of people would have felt it. In fact,
I think Gette recorded more than ten thousand people saying
they had felt the shake around the Marlborough, Nelson Wellington
regions shortly before six o'clock this evening. So anyway, we've
got the news team on that they're checking for any
reports to damage or anything. At the moment, doesn't sound
like there are major reports, but will make sure we
update you in the news right now. Twenty four minutes

(01:21:01):
past six year with Jacktame on Newstalks, EDB.

Speaker 1 (01:21:05):
If it's to do with money, it matters to you.
The Business Hour with Jack tam and my HR the
HR solution for Fizzy smy son used talks EDB.

Speaker 2 (01:21:16):
I've just got your a little bit more info on
that earthquake. So there were some hero staff in Parliament
when the earthquake was felt. They said it was kind
of moderate shaking went for about six or seven seconds.
Although my experience of earthquakes as it's always very difficult
to judge when you're in the moment, the quake felt
like it went on for some time, although that could
have just been anxiety. After the shaking. It wasn't severe,
but definitely noticeable, felt like rolling. More than ten thousand

(01:21:37):
people have recorded it to g Onnette four point nine
just before six o'clock this evening. After six thirty, Brad
Olsen from Informetrics on the latest data for construction consents
a big drop twenty percent year on year plus will
take you to the UK before seven as well. Use
this next. You're Jacktame. It's almost six thirty and this
is News Talks b.

Speaker 1 (01:22:01):
Cunching the numbers and getting the results. Is Jacktam with
the Business Hour thanks to my HR the HR solution
for busy SMS on News TALKSBI.

Speaker 2 (01:22:12):
Well, New Stork said, be you with Jack Tame. Twenty

(01:22:32):
five to seven. Australian retail sales have rebounded, so there
are zero point seven percent, but expectations heading into the
data release we're looking at about zero point four so
twice as good as expectations. It's all being put down
to a warm August. It follows growth of just zero
point one percent in July. Paul Bloxham is HSBC's chief
economist and his weatherus this evening. Hi, Paul, So how

(01:22:55):
has a warm August encouraged spending?

Speaker 17 (01:22:59):
Well?

Speaker 10 (01:23:00):
These numbers are seasonally adjusted, so strictly speaking, they should
adjust for the fact that there are weather patterns of course,
but if you get an unusually unusual weather pattern and
unusually warm months, for example, people might spend a bit
on outdoor activity and so on, and that's what the
ABS has really been pointing out in those numbers. But
I don't think that's the key story. I think the
key story here is that there has been tax relief.

(01:23:21):
Tax cuts have come through, there's been cost of living
relief as well, and household incomes in Australia have gotten
a bit of a boost in July and into August,
and people are starting to spend just a little bit
of that. They're saving some of it, but they're spending
some of it. So I think part of the lift
in the consumer spend, which we're expecting actually will continue
in the coming months and is going to be a
feature of this second half of this year for Australia

(01:23:44):
is about that relief, is about more income coming their way.
The challenge there, of course, is if demand picks up
in the economy, you get a bit more consumer demand
at a time when inflation is still not as low
as it needs to be, then it means the RBA
isn't able to cut interest rates. So while it's a
positive story, because the consumer spending a bit more, it
means that rate relief is still quite a distance away.

Speaker 2 (01:24:05):
Yeah, it talk to us a bit more about that.
What do you think it means for the inflationary outload.

Speaker 10 (01:24:10):
Well, we think inflation is going to prove to be
sticky in Australia. We've been saying this all year long. Actually,
we don't think the RBA is going to be cutting
interest rates this year, and we've thought that the rate
cuts are probably not coming through till twenty twenty five,
and that's been out of view consistently and the numbers
are playing out that way. So it's a combination of
two things. It's both the demand is still holding up,
as we talked about consumers starting to spend a little

(01:24:31):
bit more because there's a bit more physical stimulus coming through.
But the primary thing is that the supply side of
Australia's economy is really quite poor. It's really quite weak.
We've seen productivity that's been quite weak as well. So
that combination is leaving us with a cost space that's
running a bit too quickly and sticky inflation. The RBA
isn't I don't think then, I don't think they're going

(01:24:51):
to be able to cut interest rates until well into
twenty twenty five.

Speaker 2 (01:24:54):
That's interesting. So what are you making of the chances
of a big cut to the cash rate here next week?

Speaker 10 (01:24:59):
Well, I think there are options here. I think the
RBNZ is going to cut, and I guess there are
options to cut twenty five or cut fifty, and we'll
have to see what they decide to do. I mean,
keep in mind, it was, you know, back in August
when they cut, they'd told us in May, just in
May prior to that, that they didn't think they were
cutting into a well into next year, and they thought
there was a possibility might list break from some one.

(01:25:21):
It's actually really quite difficult to read the RBNZ at
the moment in terms of the way they are likely
to respond to the data. But what we know is
the economy is week, GDP is week, growth is week,
and we know there are science and inflation's coming down too.
So I think we can fairly confidently say the rbnz's
going to deliver another cut next week.

Speaker 2 (01:25:39):
Yeah right, I can't. But twenty five fifty basis points
anyone's guess at the stage.

Speaker 10 (01:25:44):
It's tricky, it's difficult to know, because, as I say,
it hasn't been that clear exactly what data they're following
in terms of how they're reacting.

Speaker 2 (01:25:52):
Okay, hey, thanks for time, Paul appreciated as always. HSBC
Chief Economist Paul Bloxham that it is twenty two minutes
to seven. Team in construction continues to slow. STATCENZ saying
new home consents drop twenty percent in the year to August,
with the number of multi unit homes consented the lowest
in the last three years. Brad Olson is Infometrics Principal Economists,

(01:26:14):
Good evening Kelder, So what do you make of these numbers?

Speaker 27 (01:26:18):
Well, look, they're still going down, you know, still down
quite a bit from a year ago, and the direction
is still pointing firmly in that much softer direction. Although
it has been interesting to see the sort of shift
that is now merging between the likes of your standalone
classic houses and your likes of your townhouses are similar.
Standalone houses had been falling a lot more earlier on

(01:26:41):
in the process. They now are showing those clearer signs
in a sense of leveling out. Not confident in calling
it too quickly, but there is a lot more evidence
the likes of your townhouses of course much bigger part
of construction these days. Compared to say, five years back,
they are still falling, and I think that's just because
effectively it takes bit longer for those those multi unit

(01:27:01):
dwellings to get fully underway. Long story short, there's still
not a lot of green shoots coming through yet for construction,
despite the fact that those interest rates have started to
pull lower.

Speaker 2 (01:27:11):
Yeah, when we do you expect to see that?

Speaker 27 (01:27:14):
Well, in a sense, I think it could be a
little while. I mean, when we look at the fundamentals,
we know the housing market still hasn't really shifted around
much yet, and from a construction point of view, there's
probably a lot of developers out there going well, I'd
have to pay like twenty percent more to build a
house than a couple of years ago. I'd make, you know,
fourteen fifteen percent less on the house when I eventually

(01:27:35):
sold it. And interest rates they might be coming down,
but they're coming down from a higher position. So at
the moment, that doesn't sort of stimulate a whole lot
of activity on the sort of buyer side, on people
that might be keen to get in again. A few
more buyers that might be coming back into the market.
But you look at those costs still jacking and you know,
compared to you know, people's incomes. If you're own occupy,

(01:27:56):
you're a first home buyer, it's still not easy to
get money from the bank. If you're an investor, you're
still looking at housing and going, well, my rents aren't
going to make a huge huge hit in contribution to
my income and to my mortgage repayments.

Speaker 2 (01:28:09):
So I think there's still a little bit of time yet.

Speaker 27 (01:28:11):
It's probably one of the later parts of the economy,
the construction sector that might actually turn around.

Speaker 2 (01:28:17):
Yeah, there's a lag right on both the way up
and the way down when it comes to monetary policy
tightening and loosening. So it is going to take away
while What about the impact of migration, because we've seen
some massive migration numbers over the last few years. Yeah,
obviously that is starting to drop pretty significantly. So what
will that mean for demand?

Speaker 27 (01:28:39):
Well, this is a big, big shift, you're right, And
I mean the last couple of years has just been
so topsy turvy. Right, You've had some you know, obviously
a plunge an activity through the pandemic, then you had
a big burst up to the highest levels we've ever
seen in terms of inward migration on a net basis,
and then in recent times that's been you know, slowing
down a lot quicker than it expected. Both fewer people

(01:29:01):
coming into New Zealand than at those peak levels, but
also a larger number of people who are leaving as well.
So you still got population growth, it's just slowing back
quite considerably. And I think realistically, looking at that, that
says that if you look at the housing market, you
look at the building market the next couple of years,
if you've got population growth which is now slowing, you've

(01:29:22):
still got those high building costs. You don't have a
huge amount of a burst looking likely to come through
on the house prices front, get to income limits and
similar from the Reserve Bank.

Speaker 2 (01:29:33):
I think it is one of those areas where we're not.

Speaker 27 (01:29:35):
Expecting a huge bounce at all, and if it does come,
it's going to take a while. The big challenge is
that the construction sector the last couple of years has
grown so much to be able to cater with such
a high level of consents that we had at the peak.
We've now probably got a bigger construction sector in terms
of workforce. Then we will have going into the future
in terms of a pipeline for residential work. So if

(01:29:55):
we can shift those people into infrastructure, that might help.
But realistically, like I say, some difficult times still for
the construction sector. Not a huge amount of a turnaround yet.
The most I think we can say is that we
might be starting to find a bottom, but that'll be
cold comfort for many.

Speaker 11 (01:30:10):
Yeah.

Speaker 2 (01:30:11):
Hey, just looking at the government's priorities for legislating over
the next few months. I mean, you've got the fast
track various other infrastructure policies, including the funding and financing
tools for housing, and obviously the Housing Minister Chris Biership
is looking to make some pretty significant inroads here. What
role do you think central government policy might play in
speeding up construction. I think for a lot of the

(01:30:34):
options that the government has on the table in its
latest quarterly Action Plan are important long term for construction
and generally for New Zealand's economy. You know, some of
those changes will set us up better in the future,
but they are unlikely in my mind, to have an
immediate impact. Probably much more significant is the fact that
you've got education consents across the country they're running. I

(01:30:54):
think they're lowest in about fourteen years on a cost
adjustment basis. If you look at the likes of again,
you know, all the talk around hospitals and similar recently
the talk around social palsing.

Speaker 27 (01:31:07):
Without any of those government public sector dollars coming into
the construction sector, you know, these longer plans aren't going
to make a huge impact.

Speaker 3 (01:31:14):
But I do think as.

Speaker 27 (01:31:15):
Well the previous government quite clearly put too much money
into the construction sector at a time when there was
already a lot of private sector stuff. That's partly why
we got those high levels of cost escalation and construction.
So I understand why the government can't spend as much,
but it does leave us in a position now where
the private sector and the public sector both aren't spending
as much as we might all like on construction.

Speaker 2 (01:31:36):
Yeah, all right, I know we're just over a week out,
but whither you stand at the moment, twenty five or
fifty basis points next week.

Speaker 27 (01:31:42):
I'm still sitting on twenty five, just because if you
look at what the Reserve Bank has said, and they've
said pretty clearly we should listen to what they say.

Speaker 2 (01:31:49):
They said, Look.

Speaker 27 (01:31:50):
Here's the conditions for continued interest rate declines of a
normal pace, and we've had that data come out pretty normally.
In fact, you look at some of the data, the
likes of GDP and similar actually a bit better than
the Reserve Bank hope. So I don't know if there's
enough there for them to call fifty. I wouldn't put
it out of my mind for November though.

Speaker 2 (01:32:08):
All right, look forward to that. Thanks Brad, appreciate your time.
Brad Olsen from Informetrics. There in a couple of minutes
on Newstalks, he'd be the man formerly known as Prince
Harry is back in London, So will he meet with
his family? Will take you to the UK next score
to seven?

Speaker 1 (01:32:24):
Whether it's macro micro or just playing economics. It's all
on the Business Hour with Jack Tam and my HR
the HR Solution for busy SMEs News Talks ab UK Corresponding.

Speaker 2 (01:32:36):
Andy Brady is with us this evening today. Hey Jack,
how are you very well? Thank you? So Harry is
back in London. What's this going to mean? Is there
going to be a family reunion of sorts?

Speaker 20 (01:32:49):
Well, we simply don't know, but the newspapers Reckon not
Charles is in Balmorrel up in Scotland, and William is
with his family in Windsor now where Harry has stayed
over and we don't know, but the hotel that he
was at for this charity function for very sick young
children is in central London. It would have taken him
less than half an hour with a police escort to

(01:33:10):
get to where William's house is. So look, it's not
geography or logistics that's the problem here. I think we're
really seeing a chasm between these two brothers. As I say,
Charles up in Scotland, so he's not going to travel
that far. I think he will make a very quick
about turn and head back to his family in California.
And I find it desperately sad because the love of

(01:33:32):
this guy has the potential I think that is inside
Harry and the good that he could have done this
country and the rest of the world, and we're not
really seeing it. So I mean, he's just a natural
with young people, with disadvantaged people, very sick children. Last night,
He's a complete natural. And I think it's such a
shame for the family and for the UK and the

(01:33:55):
Commonwealth that all of this has come to pass.

Speaker 2 (01:33:57):
Yeah, yeah, I totally agree with you Onett. I totally
agree with you on that. It will be interesting to
see if maybe the paper is going to be proved
wrong on this occasion and they will meet up. But
we'll wait and see. Hey, the UK has turned off
its last coal power plant.

Speaker 20 (01:34:12):
Yeah, this is big news actually, so they've just had
the last ever night shift at this coal plant outside Nottingham.
Coal fueled the industrial revolution here, it basically built Britain
and overnight they have flicked the switch for the very
last time. There will be no more electricity produced across
any of the grids in the United Kingdom that's powered

(01:34:33):
by fossil fuel. So a huge step forward, no coincidence.
This is happening under Labor and Keir Starmer. He's absolutely
determined to make cleaner energy, launching a company called Great
British Energy as well. And the first six months of
this year jack fifty percent five zero percent of the
UK's energy needs and electricity came from renewables, so huge

(01:34:56):
leaps have been made in recent years. Look, we're still
behind some European countries like France, for example, but the
UK is getting there and that is the end of
an era. No more coal power in Britain.

Speaker 2 (01:35:06):
Yeah, it's remarkable, really, isn't it. When you think not
just the role of coal power, but of the role
of industry, and especially in parts of you know, of
northern England around Newcastle, it seems remarkable that this day
would be upon us. We we'll just talk to us
a bit about the public sentiment there. I mean, how
do people feel about this? So people have see it.

Speaker 20 (01:35:28):
I think in coal mining communities that were decimated in
the eighties under Margaret Thatcher because she drove people into
the ground really trying to break the unions, I think
there will be It's a bittersweet moment. I think a
lot of people will have memories of their dad, their
granddad working in coal mining communities South Wales, northeast of England, Yorkshire.

Speaker 7 (01:35:49):
All that is gone.

Speaker 20 (01:35:50):
I mean, it is consigned to history. So we're moving on.
But ultimately, you know, what we need to see now
is more renewable energy, cleaner energy, cheap energy. And when
you look at the coastline of the United Kingdom, you
look at the wind. And I've been lucky enough to
travel a lot in Scandinavia, in the last few years.
You see how they do it there, You know we

(01:36:11):
are lagging behind hugely.

Speaker 2 (01:36:13):
Hi, Bori Speaker has been married for what is it now,
the third time?

Speaker 20 (01:36:19):
Yes, so lovely pictures in the papers today. I was
smiling Boris Becker because the last time we saw him
in the papers he was leaving prison. Would you believe
here in Oxfordshire where I live, he served six months
of ascendence that was to do with financial crime relating
to his bankruptcy.

Speaker 11 (01:36:34):
So he looks the part.

Speaker 20 (01:36:36):
I mean, he still looks fit and healthy and handsome.
His bride has dropped their gorgeous Lilian. She's thirty three
and it's third time lucky for Boris Becker. Two of
his children from his first man marriage were there Portafino, Italy.
Beautiful wedding pictures. But you just hope he stays on
the straight and narrow now and that you know all
the negative headlines surrounding Boris Becker, you know that he

(01:36:57):
turns a leaf and these are happier days for him
and his new wife.

Speaker 2 (01:37:00):
So I've just looked at that. Though only two, but
he's got four kids, right, so all yes.

Speaker 20 (01:37:06):
So it's quite a complicated private life Boris Specker has,
which I won't remind our listeners to at this time
of the day. But he's been a busy man over
the years, borspeer, but honestly, Jack, probably before your day.
I remember being in my grandmother's kitchen in nineteen eighty
five in County Wicklow watching him win Wimbledon at the
age of seventeen unseeded. Amazing. I mean, what a what

(01:37:29):
a career, and then eight more Grand Slams. He's had
an amazing career. But good luck to him, man the
happy couple.

Speaker 2 (01:37:35):
I mean, he's still in pretty good neck, isn't he
he see? I know he said a few ups and
downs over the years, but he he's in pretty good,
pretty good neck, I reckon pretty good fatal Yeah he is.

Speaker 20 (01:37:45):
He looks good and I mean he just needs to
get himself straight now. I mean he's had a few
years from hell, but all of his own making, I mean,
not cooperating with the authorities in the UK when it
comes to financial crime. They have geniuses who will unpick
absolutely everything. I'm not quite sure he realized that.

Speaker 2 (01:38:03):
Yeah, all right, hey, thanks so much for your time
and that we appreciate it as ever Endebrady, a UK
correspondent there right now. It is seven minutes to seven
on newstorgs EDB.

Speaker 1 (01:38:12):
Whether it's macro micro or just plain economics, it's all
on the Business Hour with Heather Duplicy, Allen and my HR,
the HR platform for SME, NEWSTALKSB.

Speaker 2 (01:38:24):
News Talk ZEDB. Thank you very much for your company
throughout the afternoon. We are almost done for today. Tomorrow
big day and US politics of course can't wait for this.
The veep debate, Tim Wolves and JD Varance will be
facing off. It's going to be a little bit different
to the presidential debate, of which there will.

Speaker 11 (01:38:40):
Only be one.

Speaker 2 (01:38:41):
Well if we don't include that first one between Biden
and Trump, because this one is not going to be
fact checked live. It's not going to be fact checked
by the moderators. It's up to the candidates themselves to
fact check each other. So that could be interesting. Kicks
off two BM New Zealand time. I think it's down
for ninety minutes at the moment I reckon it's going
to be. I meant, not necessarily a different time, but

(01:39:03):
certainly quite different from the first time round. Anyway, Andy
has chosen the beats to play us out to know
what do you go for?

Speaker 28 (01:39:09):
I have indeed because it's a bit of controversy in
India at the moment because they've got Coldplay coming. Yeah,
tickets for the show have gone up to eleven thousand
dollars on the black market, so they've got the police
involved apparently like your general punters couldn't get them, and
then they all the bots got them and now they're
back on these reselling websites. It's and one of the

(01:39:30):
guys has been hauled over the coals in front of
the Mumbai police.

Speaker 2 (01:39:34):
Oh there, it's crazy. Eleven thousand dollars is a bit
nuts though, isn't it.

Speaker 1 (01:39:38):
It is?

Speaker 2 (01:39:38):
Indeed news zedv dot cod on inzed for everything from
our show. You can find all our news updates at
zid Herald dot cod on in dead as well. Darcy
Waldgrave is going to take you through the evening. Sports
talk kicks off right after the seven o'clock news. I'm
back tomorrow from four o'clock till then have a wonderful evening.

Speaker 1 (01:40:04):
For more from hither Duplessy Allen Drive listen live to
news talks. It'd be from four pm weekdays or follow
the podcast on iHeartRadio,

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