Labour's finance spokesperson has accused the Government of 'sitting on its hands' amid an economically turbulent week for the world.
Barbara Edmonds has criticised Nicola Willis' response to Donald Trump's tariffs - and accused her of 'complacency' as Kiwis express concerns over their jobs and mortgages.
She says the Government needs to look inward and come up with a solution that benefits New Zealanders.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Right now, Barbara Edmonds, Barb who we've been looking for, Barb?
Where have you been all of our lives? So we've
been looking for Barbara Edmonds from Labour this afternoon because
we were meant to have it for an interview. And
then at five point thirty one, a fire alarm goes
off at Parliament. Okay, five point thirty seven we get
a call from Labour saying interview is canceled. You know,
(00:22):
she's not meant to be on until now, which is
after second interview is canceled fire alarm. Okay, that seems odd.
Can you not take a phone call?
Speaker 2 (00:29):
You know?
Speaker 1 (00:29):
Fire alarm was fifteen minutes ago? Anyway, whatever. Five forty
five pm we mentioned this on here. Five point fifty
four pm we mentioned it again, say definitely no, Barbara Edmunds.
We questioned the reason for this. Five fifty seven pm
another call from Labor. Barbara's back on. She's here now, Barbara.
Good evening, Hi.
Speaker 2 (00:49):
Ryan, how's it going? You're good? Thanks, I'm here man,
I'm here.
Speaker 1 (00:53):
For what I'm for you? What happened?
Speaker 2 (00:56):
I think it was just because obviously left my phone,
you know, a fire alarm you just got get outside
so we just wanted to make sure that it was weird.
Just we didn't know how long we were going to
be outside. I've been here for ten years in Parliament,
the precinct duringut the prince sincts. The first time I've
ever had a fire drill during a housitting time. So
but I'm here, man, That's what matters.
Speaker 1 (01:13):
No, I'm glad you're here. Do you know what? Always
take your phone with you because if you I've always thought,
you know, what is it next to you or in
your desk? You always take your phone because if your
family wants to get hold of you, then they need
to get hold of you. You know.
Speaker 2 (01:26):
A's true, that's true. But you know I was in
a meeting. So my bad. But I'm here. I'm looking now.
Speaker 1 (01:31):
Good to have you here. Now, this press release you
put out today about Nikola Willis attacking Nikola Willis, you
have said Nichola Willis continues to sit on her hands
amid glo a global economic crisis, which, first of all,
would we call this a global economic crisis? Yet?
Speaker 2 (01:48):
Well, I think a lot of commentations are saying that
is a global economic crisis. With the retaliation parist that
might happen globally. For us, it's really if this is
going to happen offshore, what do you do as a government.
And we believe kind of her to saying we've got this,
we will hold our position. We don't think that that's enough.
Speaker 1 (02:08):
Okay, So what exactly do you want her to do?
Speaker 2 (02:12):
Well? A lot of going for growth initiatives are really
based on foreign interventions, for example, if foreign direct investment
or so tourism or so exports sector. We just want
to make sure that there's a balance about looking inwards
into New Zealand and taking a proper look at Actually, Okay,
(02:34):
if a third of our plan is not going to
be working to plan because there's going to be some
uncertainty in the global environment, what do we need to
do to look at here in New Zealand to ensure
that we are supporting both internally and the sectism internally
and maybe using it as an opportunity actually.
Speaker 1 (02:52):
To do what exactly I mean this is all sounding
quite expensive, Barbara. The benefit obviously of foreign investment and
tourism is it someone else pays for it? Oh?
Speaker 2 (03:00):
Absolutely, and we still you know, we still welcome that.
But you've also got to have a plan for what
happens internally, for example, if our exporters aren't able to
export the same amount that they're going to be able
to do, or there's going to be impossed in them,
or the far with the foreign exchange right with brown.
Speaker 1 (03:17):
Dons, Barbara, at the point, we don't know that yet,
do we. I mean, it has been two hours since
the tariffs came into effect. We don't yet. And you
have used the words global economic crisis, but in the
real world it hasn't actually happened yet. So where would
you specifically recommend that she goes and piles money today?
Speaker 2 (03:38):
Well, I'm pretty sure that our share markets and the
share markets off sure would say that something has happened,
given the trillion dollars was taken off, you know, for example,
the US markets. We're a lot of our our key
we say for our Superorannuation Fund where we have investments in.
Speaker 1 (03:52):
Absolutely the stock market has felt the shock, no doubt.
But what exactly do you want her to do in
the real economy right now? Where do you want her
to spend this money?
Speaker 2 (04:03):
Definitely on infrastructure. We've been saying that for the last year.
The government had paused canceled. A lot of infrastructure projects
have had their summit recently. This is the time for
them to really clearly signal and to get those projects underway,
because remember we've lost thirteen thousand construction sector jobs in
the last year. Those are the people that we basically
(04:24):
have trained up here in New Zealand using apprenticeship booths
other initiatives, that are now going offshore, particularly to Australia
to find work.
Speaker 1 (04:32):
Yeah, but that they're talking all the time about infrastructure
investments and they've had their summit. I mean they're asking
it for others to join them to pay for some
of it, but they're also stumping up for motorways and
the like.
Speaker 2 (04:45):
And it's just right. It's talk, but you kind of
needed the action last year instead of putting the handbrake
on the.
Speaker 1 (04:52):
Operating allowance that she's set two and a half billion.
Would you go with that or would you want it
to be highed? Do you think she should go for
a bit of a boost.
Speaker 2 (05:00):
Well, we're going to see what's going to happen during
the budget. I mean the Treasury said last budget that
you need a minimum of two point five billion to
keep up with population growth and inflation, but they chose
the two point four and you've seen that they're really
pre committed a lot of that from last year's budget.
So you'd be having a good look at your operating
(05:21):
allowance and be able to say okay. She says to
that she feels comfortable with that. My question is, though,
do quees feel comfortable with that? Are they getting the
access to healthcare that they need? Are they able to
basically be able to do feel comfortable with that needs?
Speaker 1 (05:34):
Would you would you go bigger?
Speaker 2 (05:37):
I would need to look at books that she's getting
and she's getting the advice. We aren't. We're having to
get the information from from commentary and from you know,
we questioned the minister in the House and this yesterday.
Speaker 1 (05:48):
They can't tell you.
Speaker 2 (05:49):
We weren't able to get any information from him.
Speaker 1 (05:51):
Feel they can't tell you before it happened, before they
do their pre budget release. But what about the forty
six percent of GDP that we're going to hit in
twenty six twenty seven? An acceptable for you in terms
of call net debt? What is an acceptable level?
Speaker 2 (06:06):
Well, it's quite interesting the minister at that investment so much.
Nikole Willis, she said, we have low levels of debt.
So that's the first time I'd heard her say that publicly,
because all of the election campaign she's been talking about
high levels of debt. So obviously we don't want to
be over in debt because there is that structural deficit.
(06:27):
But you need to look at the long term view
as well and where that debt is being spent. And
as I've said before, infrastructure, if you're going to have
to borrow, you borrow it for infrastructure. Again, we're open
to that foreign We are open to that foreign investment
for the right assets.
Speaker 1 (06:43):
But what's the acceptable number for you? How high would
you take it? Are you comfortable taking.
Speaker 2 (06:49):
Up I'm not going to announce the Labor Party fiscal
plan today, but again we're going to be looking at
the numbers that come out of the budget, economic fiscal updates.
There's another monetary policy statement by the Reserve Bank and
may those numbers are going to be really key for
us as to where we land for our school plan.
Speaker 1 (07:06):
Barbara, appreciate your time. Nice to have you on the phone. Finally,
Barbara Edmonds, Labour's finance spokesperson. 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
Right now, Barbara Edmonds, Barb who we've been looking for, Barb?
Where have you been all of our lives? So we've
been looking for Barbara Edmonds from Labour this afternoon because
we were meant to have it for an interview. And
then at five point thirty one, a fire alarm goes
off at Parliament. Okay, five point thirty seven we get
a call from Labour saying interview is canceled. You know,
(00:22):
she's not meant to be on until now, which is
after second interview is canceled fire alarm. Okay, that seems odd.
Can you not take a phone call?
Speaker 2 (00:29):
You know?
Speaker 1 (00:29):
Fire alarm was fifteen minutes ago? Anyway, whatever. Five forty
five pm we mentioned this on here. Five point fifty
four pm we mentioned it again, say definitely no, Barbara Edmunds.
We questioned the reason for this. Five fifty seven pm
another call from Labor. Barbara's back on. She's here now, Barbara.
Good evening, Hi.
Speaker 2 (00:49):
Ryan, how's it going? You're good? Thanks, I'm here man,
I'm here.
Speaker 1 (00:53):
For what I'm for you? What happened?
Speaker 2 (00:56):
I think it was just because obviously left my phone,
you know, a fire alarm you just got get outside
so we just wanted to make sure that it was weird.
Just we didn't know how long we were going to
be outside. I've been here for ten years in Parliament,
the precinct duringut the prince sincts. The first time I've
ever had a fire drill during a housitting time. So
but I'm here, man, That's what matters.
Speaker 1 (01:13):
No, I'm glad you're here. Do you know what? Always
take your phone with you because if you I've always thought,
you know, what is it next to you or in
your desk? You always take your phone because if your
family wants to get hold of you, then they need
to get hold of you. You know.
Speaker 2 (01:26):
A's true, that's true. But you know I was in
a meeting. So my bad. But I'm here. I'm looking now.
Speaker 1 (01:31):
Good to have you here. Now, this press release you
put out today about Nikola Willis attacking Nikola Willis, you
have said Nichola Willis continues to sit on her hands
amid glo a global economic crisis, which, first of all,
would we call this a global economic crisis? Yet?
Speaker 2 (01:48):
Well, I think a lot of commentations are saying that
is a global economic crisis. With the retaliation parist that
might happen globally. For us, it's really if this is
going to happen offshore, what do you do as a government.
And we believe kind of her to saying we've got this,
we will hold our position. We don't think that that's enough.
Speaker 1 (02:08):
Okay, So what exactly do you want her to do?
Speaker 2 (02:12):
Well? A lot of going for growth initiatives are really
based on foreign interventions, for example, if foreign direct investment
or so tourism or so exports sector. We just want
to make sure that there's a balance about looking inwards
into New Zealand and taking a proper look at Actually, Okay,
(02:34):
if a third of our plan is not going to
be working to plan because there's going to be some
uncertainty in the global environment, what do we need to
do to look at here in New Zealand to ensure
that we are supporting both internally and the sectism internally
and maybe using it as an opportunity actually.
Speaker 1 (02:52):
To do what exactly I mean this is all sounding
quite expensive, Barbara. The benefit obviously of foreign investment and
tourism is it someone else pays for it? Oh?
Speaker 2 (03:00):
Absolutely, and we still you know, we still welcome that.
But you've also got to have a plan for what
happens internally, for example, if our exporters aren't able to
export the same amount that they're going to be able
to do, or there's going to be impossed in them,
or the far with the foreign exchange right with brown.
Speaker 1 (03:17):
Dons, Barbara, at the point, we don't know that yet,
do we. I mean, it has been two hours since
the tariffs came into effect. We don't yet. And you
have used the words global economic crisis, but in the
real world it hasn't actually happened yet. So where would
you specifically recommend that she goes and piles money today?
Speaker 2 (03:38):
Well, I'm pretty sure that our share markets and the
share markets off sure would say that something has happened,
given the trillion dollars was taken off, you know, for example,
the US markets. We're a lot of our our key
we say for our Superorannuation Fund where we have investments in.
Speaker 1 (03:52):
Absolutely the stock market has felt the shock, no doubt.
But what exactly do you want her to do in
the real economy right now? Where do you want her
to spend this money?
Speaker 2 (04:03):
Definitely on infrastructure. We've been saying that for the last year.
The government had paused canceled. A lot of infrastructure projects
have had their summit recently. This is the time for
them to really clearly signal and to get those projects underway,
because remember we've lost thirteen thousand construction sector jobs in
the last year. Those are the people that we basically
(04:24):
have trained up here in New Zealand using apprenticeship booths
other initiatives, that are now going offshore, particularly to Australia
to find work.
Speaker 1 (04:32):
Yeah, but that they're talking all the time about infrastructure
investments and they've had their summit. I mean they're asking
it for others to join them to pay for some
of it, but they're also stumping up for motorways and
the like.
Speaker 2 (04:45):
And it's just right. It's talk, but you kind of
needed the action last year instead of putting the handbrake
on the.
Speaker 1 (04:52):
Operating allowance that she's set two and a half billion.
Would you go with that or would you want it
to be highed? Do you think she should go for
a bit of a boost.
Speaker 2 (05:00):
Well, we're going to see what's going to happen during
the budget. I mean the Treasury said last budget that
you need a minimum of two point five billion to
keep up with population growth and inflation, but they chose
the two point four and you've seen that they're really
pre committed a lot of that from last year's budget.
So you'd be having a good look at your operating
(05:21):
allowance and be able to say okay. She says to
that she feels comfortable with that. My question is, though,
do quees feel comfortable with that? Are they getting the
access to healthcare that they need? Are they able to
basically be able to do feel comfortable with that needs?
Speaker 1 (05:34):
Would you would you go bigger?
Speaker 2 (05:37):
I would need to look at books that she's getting
and she's getting the advice. We aren't. We're having to
get the information from from commentary and from you know,
we questioned the minister in the House and this yesterday.
Speaker 1 (05:48):
They can't tell you.
Speaker 2 (05:49):
We weren't able to get any information from him.
Speaker 1 (05:51):
Feel they can't tell you before it happened, before they
do their pre budget release. But what about the forty
six percent of GDP that we're going to hit in
twenty six twenty seven? An acceptable for you in terms
of call net debt? What is an acceptable level?
Speaker 2 (06:06):
Well, it's quite interesting the minister at that investment so much.
Nikole Willis, she said, we have low levels of debt.
So that's the first time I'd heard her say that publicly,
because all of the election campaign she's been talking about
high levels of debt. So obviously we don't want to
be over in debt because there is that structural deficit.
(06:27):
But you need to look at the long term view
as well and where that debt is being spent. And
as I've said before, infrastructure, if you're going to have
to borrow, you borrow it for infrastructure. Again, we're open
to that foreign We are open to that foreign investment
for the right assets.
Speaker 1 (06:43):
But what's the acceptable number for you? How high would
you take it? Are you comfortable taking.
Speaker 2 (06:49):
Up I'm not going to announce the Labor Party fiscal
plan today, but again we're going to be looking at
the numbers that come out of the budget, economic fiscal updates.
There's another monetary policy statement by the Reserve Bank and
may those numbers are going to be really key for
us as to where we land for our school plan.
Speaker 1 (07:06):
Barbara, appreciate your time. Nice to have you on the phone. Finally,
Barbara Edmonds, Labour's finance spokesperson. 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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