Full Show Podcast: 24 September 2025

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
The only drive show you can try to ask the
question which can get the answers, find the facts and
give the analysis. Bryan Bridge on hither duplicy Ellen Drive
with One New Zealand and the power of satellite mobile
news Dogs.

Speaker 2 (00:16):
Seven coming up. Nikola Willis on the new Reserve Bank
governor and the comment at the mood of the boardroom
this morning that went down like a coup of cold sick.
We'll talk the Auckland density debate, charging for parking at
national parks, and we're in the US for Trump on
his comments on the UN and Elbow gets to sit down.

Speaker 3 (00:31):
All ahead, Bryan Bridge.

Speaker 2 (00:33):
The Swedes do central banking a little different to us,
and I reckon it's good news that we've got a
Swede in charge. Risks Bank, which is basically their rbnzet equivalent,
is really big on this little thing called transparency. Three
things to know. This is stuff they do that we don't.
Currently they rank number one amongst the best performing on

(00:55):
openness and honesty in the world. Number two they publish
an actual Ford five cast for the ocr we don't,
and number three they publish alternative scenarios and minutes in
the minutes you get to see which of these guys
voted which way and their justifications for doing so. Currently,
we don't get to know which way the committee members voted,

(01:17):
let alone why. And remember it's not just Rix Bank
that does this, it's the FED in the US, the
Bank of England. They all reveal who, some even reveal why,
so why don't we Here's hoping the Swedeen charge will
help shape things up. Changes will be made, Sunlight will
be shone, a new dawn perhaps for number two. The

(01:38):
terraces after a dark and cloudy, let's face it, roller
coaster ride of terror under Adrian Or. Her name is
Aarna Breman. CV reads as you'd expect current who I
see of the bank in her home country, the Central Bank.
They're academic jobs, chief economists at a retail bank. She's
moving here with her family, which is nice, good to see.

(01:58):
I don't know how news it in first feel about
us importing another migrant for a Kiwi job, but there
we go. So reality is most of the heavy lifting.
By the time she gets their feet under the desk
December first, will hopefully have been done two more reviews
under hawksby October November. Then he's gone, not just from
the top job, but from the bank entirely, and then

(02:19):
they shout up shop of course for Christmas till February.
Let's hope as she enjoys what I'm sure will be
a welcome sunny Kiwi summer, she brings a bit of
that sunshine. After all, the best disinfectant to number two
the Terrace, Wellington after four please nine nine two. Great

(02:46):
to hear from you. New cancer drugs could save hospitals
and patients both time and money, so FIMAX looking at
funding a whole bunch of new treatments for cancers MS,
breast and lung cancers, as well as eye conditions. The
big news are new injection treatment that could replace IVY infusions,
freeing up more than twelve thousand hospital hours a year

(03:07):
by twenty thirty. Doctor Kiaren Simon's is Roach New Zealand
Country Medical Director and joins me this afternoon. Good afternoon,
Hi Ryan, thanks for having me. Good to have you.
Can you tell us about this injection treatment how it works?

Speaker 4 (03:22):
Yes, So this is FISCO that you're referring to. So
it combines two active ingredients patuzamb and trastuzamab, which are
currently given and funded by FARMAC as intravenous infusions, So
that means that patients need to go into the hospital,
sit in a chair and have a slow drip into

(03:43):
their veins, usually over several hours. So this new medicine
which FARMAC is consulting on, it's given as an injection
under the skin and it's given just in a few minutes.
So the trials showed that eighty five percent of people
prefer fesgo over the IAV versions. It's a reduction in

(04:08):
eighty three percent in the amount of time that each
individual patient needs to sit in the infusion chair. And
our calculations show that over a period of five years
that the number of hours released in the effusion clinics
is about forty five thousand, and that's about nine two

(04:29):
hundred hours of nurse time and about sixty thousand hours
of pharmacist time. So we think that this, if this
is approved by the FARMAC board, that it would not
only offer great health outcomes for women with breast cancer,
but also releasing capacity in a very overstretched system.

Speaker 2 (04:52):
At the moment, how much extra does it cost?

Speaker 4 (04:58):
There is no extra cost to the healthcare system with
the introduction of this medicine.

Speaker 2 (05:04):
No, well, because farmac's funding it, you mean, presumably it
is going to be a more expensive option or is
it exactly the same as the current intravenous Yeah.

Speaker 4 (05:15):
That's right. So if you add up the cost of
the two IV medicines and also the cost of the
sort of societal burden of those IV medicines, then the
proposed funding does not cost FARMAK or the healthcare system
more than the current options.

Speaker 2 (05:35):
Right, And that's what David Seymour has been pushing for
that FARMAC will look more holistically at the benefits to
the community overall, not just the upfront cost and how
many lives might be saved. It's the freeing up of
resources around the hospitals too.

Speaker 4 (05:52):
Yes, that's right, that's right, And I mean this is
exciting because if this is approved, it would be the
first first time that an intravenous cancer treatment has been
made available as a subcutaneous version. This is not new
technology or new science, but in the past we've not

(06:14):
been able to achieve funding of subcutaneous medicines for cancer.
So if this is approved, it would be a big
shift in treating cancer patients in New Zealand's all right?

Speaker 2 (06:28):
Interesting stuff. Appreciate your time, Doctor Karen Simon's Roche Country
Medical Director. Time is thirteen minutes.

Speaker 3 (06:33):
After four Brian Bridge.

Speaker 2 (06:36):
Good to have your company, as someone's already made a
joke about Swedish rounding. Yes, I did think that, and
actually Laura had the best joke of the afternoon, which
was about Ikea coming here and now we've got a Swede.
It's an invasion, right. Nine two ninety two is the
number to text lots to come on the program today.
We're going to get to the US with our US correspondent.
After US at four thirty, Darcy is next with sport.

Speaker 1 (06:58):
It's the Heather du Bussy on Drive Full Show podcast
on iHeartRadio powered by News TALKSB.

Speaker 2 (07:05):
News TALKSB. It is sixteen minutes after for Jimmy Kimmel.
You know he got canceled, got fired apparently, and then
he's been unfired and uncanceled where he's done his first
show since being uncanceled, which lasted about a week. The
show an hour, his monologue twenty eight minutes. I won't
play the whole thing.

Speaker 5 (07:24):
Ask me if there are conditions for my return to
the air, and there is one. Disney has asked me
to read the following statement and I agreed to do it.

Speaker 2 (07:36):
Here we go.

Speaker 5 (07:39):
To reactivate your Disney Plus on who you are.

Speaker 2 (07:44):
Honestly the funniest late night host on television America at
the moment is actually Donald Trump at the un more
on that for you shortly now it's seventeen after four.

Speaker 1 (07:53):
Sport with tab power plays better unlocked, bigger odds eighteen
bet responsibly.

Speaker 2 (07:58):
Darcy said, this new technology for concussions, Darcy, I find fascinating.
Very quick, Yeah, very very quick.

Speaker 6 (08:05):
Old do you Steve Vine who's had many many hypnock
fact that ended his rugby career. He's fronting this organization
that have released this new device that's going to run
at about three thousand dollars. There's been tens of millions,
I believe on. This has been given the okay by
FDA in the States, which is a big thing. And
basically whatever it is, you put it on your head.
It's got a wee device at the back, it's got

(08:27):
eye guards at the front. After two minutes they can go, yes,
you've been concussed. You better go and sort yourself.

Speaker 2 (08:31):
And there's no baseline or anything required, right.

Speaker 6 (08:34):
No, No, baseline. It's just right there and there's saving
all that time and money. The only thing is is
that you need someone who can actually operate it. They've
got to be a medi pro at this stage. So
it's going to go to it's going to go out
to the medics. It's going to go out to the
likes of Stephen Cutter, who is involved in doing this.
So all the physios out there are going to get

(08:54):
these things if they can afford them. Are they going
to try and work out a way to release them
on mass because.

Speaker 2 (09:00):
It's the idea you'll get to schoolboy rugby and school
girl rugby and stuff and they'll be.

Speaker 6 (09:04):
There are limitations around at the moment though, it's only
cleared for twelve years old to forty four years old,
but they leave the exposure at that lesser rage is
not as much. But they're working through that now.

Speaker 2 (09:16):
So there are parameters you normally wrap at rugby before that,
An't you why?

Speaker 3 (09:20):
I think so?

Speaker 6 (09:21):
Yeah, I don't know, But the thing is it's instant.
They're going to do it now. Maybe they have a
tent at a big field. The whole of the games
on anyone that gets ahead, not straight off their yeah,
and they go yeah, year to go straight news.

Speaker 2 (09:35):
Dame Nolen, how much she be feeling watching this We've
got another game tonight's silver fan South Africa seven forty.

Speaker 6 (09:41):
How would she be feeling. She'd be very happy for
it players, but personally well, from what I know of
Dame Nolen, if she has got some personal anks, she
won't let it out, She'll just let it stay that.
She'd be very happy for a Vet Macaus and Jerry's
come in and did a very good job.

Speaker 3 (10:00):
She won't be aggrieved.

Speaker 2 (10:02):
At the team's success, absolutely not.

Speaker 6 (10:04):
She'll be pussy at Neckborn New Zealand program. This has
been the big thing. Look Needbor New Zeland have got
a reprieve because the silver Ferns with the reintroduction of
Chrace Wikieve come out and they've looked very very good.
Patatoya Ava backing in after a couple of years feeding
from the mid court, which is fantastic. Heaven Unfortunately, as
else he won't be there. But this has been a

(10:26):
shining light and it's taken away distracted from the chaos
that they've been wrapped in over the last couple of weeks,
and that won't go away. That came that will come back.

Speaker 2 (10:37):
Good luck to them. Good luck to them tonight, Thanks Darsie.

Speaker 6 (10:39):
And Andrew Slatt joins us to night the Format. Wallaby Skipper.
He was the captain. He played last time the Wallabyes
won that EDNA ninety eighty six.

Speaker 2 (10:47):
Brilliant. We'll see tonight at seven o'clock News Talks there'd
be that's Darcy Waldergrave has just gone twenty after four.
Kim Hal also had something to say about Trump, by
the way, and the whole cancelation.

Speaker 5 (10:56):
Of thingsident of the United States made it very clear
he wants to see me and the hundreds of people.

Speaker 3 (11:01):
Who work here fired from our jobs.

Speaker 5 (11:03):
Our leader celebrates Americans losing their livelihoods because he can't
take a joke.

Speaker 2 (11:10):
All right, You meant to be funny, you know when
they get all set.

Speaker 3 (11:13):
I mean, yeah, I.

Speaker 2 (11:13):
Suppose you've got to do a bit of both, don't you.
You've got to do a bit of light and shade,
and we'll do a bit of that next News Talks.

Speaker 1 (11:18):
MB For the name you trusted to get the answers
you need, it's Ryan Bridge on Hither Duplicy Ellen Drive
with One New Zealand coverage like no one else.

Speaker 2 (11:28):
News TALKSBO twenty three The Wes Pat McDermott Miller Employment
Confidence surveyed. This is where you go and ask households,
ask people how do you feel about the job market?
And for the September quarter, confidence in the market has
actually risen, but only slightly by a fraction, up one
point one points to nine point nine. Anything below one
hundred means that you have more people with a negative

(11:50):
view than you do people with a positive view. Job
security is a problem and near COVID lockdown levels in
terms of pessimism, which is not great. Nearly a quarter
of those asks think that their job will be less
secure over the year ahead. A quarter. Most of those
are people under the age of thirty, unsurprisingly and those
over the age of fifty. This is not good because

(12:12):
people worrying about jobs don't spend money, and spending is
what we need to get this economy moving. Jimmy Kimmel
over in America, I'm told is apparently just cried on. Yeah,
he's just given his twenty eight minute monologue.

Speaker 5 (12:26):
But I do want to make something clear because it's
important to me as a human and that is you
understand that it was never my intention to make light
of the murder of a young man.

Speaker 2 (12:38):
Now, depending on which side of politics you'll say crocodile tears.
Probably the moment's got to him a bit. You know,
there'll be everybody watching. He's just been through the head
top of the headlines, lead story on every site across America, canceled, uncanceled,
all in the space of a week. He's probably just
feeling a bit tired and emotional, I would imagine, not

(12:59):
that I'm making excuses for him. Twenty four minutes after
four now, and a big ups today for TSB. Congratulations
TSB kicking butt in the mortgage wars. So they have
come out with a number four point four nine percent
two year fixed. That's twenty six basis points lower than
their previous offer. It's ten lower than the next best,

(13:23):
so they are the best in the business today. The
spring listings are coming on. I had a look on
one roof yesterday's very well presented three betties that I
was checking out. Think very much. People have obviously been
taking the time to get the painting right outside. They've
got the pop plants there. It's all very nice to
see and very nice to see a four point four
nine percent two year fixed rate. By the way, almost

(13:46):
according to interestock co dot MZ four years since you
had a two year rate that low, not incredible four
point four nine percent TSB. You are winning the mortgage
wars today. Twenty five minutes after four cry and bridge.
Now this business at Auckland Council with the housing, I'm
just like I tried to watch the live stream earlier

(14:09):
and they are a bunch of clowns and I and
you just think what the headline, by the way, for
the story on the heral, which was a good headline,
but it was firing squad or lethal injection. This is
how Aakland councilors are describing their options. One is do
you go skyscraper, well, skyscraper fifteen stories which two in

(14:32):
Auckland there is a skyscraper. Or do you go which
you know around the train stations, or do you go
three stories high across the board? Those are the options.
And someone described it as the choice between a firing
squad or a lethal injection. How mellow dramatic? So I
just calm down, will you? You've got Wayne Brown there,
I mean he's good, but he was a bit Ditherery

(14:54):
You've got Christine Fletcher, whatever her name is, you know
she's they're arguing over who phoned the minister. You've got
Daisley Simpson there with the Gucci sunglasses on her head,
and nobody can decide anything. And you just look at
that and you think it's no wonder we're all screwed,
especially in Auckland. But I just think, why do we

(15:16):
need a council Can we not just have a mayor
for each region? Why do we need ten councilors? That
would be my question after watching all of that. Anyway,
we'll speak to one of the ten, or however many
there are. After five o'clock twenty seven. After four we're
in the US after News NEWSTALKSZB.

Speaker 1 (15:36):
On your smart speaker, on the iHeart app and in
your car on your drive home, it's Ryan Bridge on
either duplicy Ellen Drive with one New Zealand tenth of
power of satellite Mobile News TALKSBB.

Speaker 2 (15:53):
Twenty five a way from five News TALKSZB. Nicola Willis
on the show after five some described what she did today.
The mood of the broom is like giving the middle
finger to business leaders. Went down like a cup of
cold sick. This is a comment she made about the
fact that they don't represent the five million people that
she represents. She got a bad report card, got a
bad score from the mood of the boardroom and some

(16:16):
in the room. In fact, many in the room and
a couple of contact with me today have said it
just went down like a cup of cold sick the
way that she handled that. We'll ask her about it
after five along with the new RBNZ governor appointment today
twenty five to five.

Speaker 3 (16:30):
It's the world wires on news talks. They'd be drive well.

Speaker 2 (16:33):
Trump certainly unleashed at the UN this morning, didn't he.

Speaker 7 (16:36):
It's time to end the failed experiment of open borders.
You have to end it now, said I can tell
you I'm really good at this stuff. Your countries are
going to hell.

Speaker 2 (16:46):
More on that with Jonathan Kurzy, a US correspondent. Shortly
super Typhoon Ragassa. This is hit Taiwan now. At least
fourteen people there have died strong wins, stronger, much stronger
than expected.

Speaker 8 (16:57):
I hope you can still hear me.

Speaker 3 (16:58):
It is bringing when up to one hundred.

Speaker 8 (17:02):
And twenty miles an hour, and we're getting these huge.

Speaker 2 (17:06):
Gossips finally this afternoon three what it's been fifty years
since anyone flew to the moon. NASA. We'll see the
four people on a ten day trip next February. Apparently
everything is ready to go. They're not landing on the moon,
they're just flying around the moon. Everything ready to go

(17:27):
at this point except the capsule that the crew will
actually fly.

Speaker 1 (17:30):
In International Correspondence with Ends and Eye Insurance Peace of
Mind for New Zealand Business.

Speaker 2 (17:37):
Twenty four to five, Jonathan Curse, our US correspondent, Jonathan,
What was that from Trump at the U WIN or
was everyone kind of expecting something like that?

Speaker 9 (17:46):
Well, boy, oh boy, woit wait? I mean, the US
President likes to make a headline for himself. He's also
declared himself a peacemaker. But essentially what you saw today
this was not a diplomatic speech. It was almost a
political rally style speech from the commander in chief. And
I suppose many in the room would have been expecting
to hear something similar, but this was extraordinary. He launched
into the United Nations, he launched into allies, He launched

(18:07):
into nations he said were effectively pushing climate change agenda
that he said was a hoax called at the Great
Big Green con has said that countries that are not
dealing with immigration are going to hell. It was an
extraordinary offside, if you like. At the United Nations too,
he raised a personal gripe he had over not being

(18:28):
able to carry out a half a billion dollar redevelopment
of the United Nations, saying he would fill the building
with mahogany, but they went a different way. The day
for him started not great. He got stuck on an
escalator on the ride up there with Milania. Some reports
out of that now seemed to suggest, well, his videographer
might have set off some sort of trigger system in it.

Speaker 10 (18:46):
But then he got inside and the telly prompted didn't work.

Speaker 9 (18:49):
So if he woke up grumpy while he certainly didn't
get any better. But then after that we heard extraordinary
conversations with Vladimir Lensky, Ukrainian leader, where he basically said
that nations should start shooting Russian planes out of the
sky if they're encroaching their airspace. He really seems to
be politically shifting his position on that. Frustrated with Ladimi
putin that conflict can't come to an end and citing

(19:11):
now far more closely with the Ukrainian side of things.

Speaker 2 (19:13):
That's more positive news at least for Elbow. Finally got
his meeting. What did that meeting actually look?

Speaker 9 (19:19):
Yes, well, he finally got a maybe we can call
it an interaction rather than a meeting, but certainly he
went off to the Lot Palace Hotel in New York,
a five star establishment in Manhattan, where Donald Trump was
hosting rand about one hundred and forty five world leaders
and their partners. And yes, we are told that there
was a conversation described as a good conversation those leaders

(19:40):
and their spouses. The Prime Minister took alongside his fiance
Jody Hayden. They post for a photograph with the American
President the First Lady, as all of the other leaders
and their spouses did, and then essentially they largely all
made their way out of there. I was at the
front of the hotel as we watched these world leaders
come in and go. One year from China, we saw
Markaranne from Canada walking by on foot, having had this

(20:02):
sort of brief interaction if you like, with the American President.
But as through this point Minister has been able to
lock in finally at last a formal.

Speaker 10 (20:11):
Meeting at the White House October twenty. The date's been said.

Speaker 9 (20:13):
Anthony Albanezi will make his third trip to the United
States and it will be a trip that will be
largely focused on You would imagine the orchest alliance. That
submarine major deal has been under review by the Pentagon,
and it is due to come back, and it may
well be that that is the time it comes back,
comes back, and maybe Donald Trump might put his own
personal spin on the three hundred and sixty billion dollar arrangement.

Speaker 2 (20:35):
Goodness made their twenty eight minute monologue from Jimmy Kimmel
to open the show probably go down in history is
one of the longest. But how's it been received?

Speaker 10 (20:45):
Yeah, I think by his supporters. Unsurprisingly, it's been widely
well received.

Speaker 9 (20:50):
I mean the late night hosts who he is of course,
colleagues off the likes of Jimmy Fallon and Stephen Colbert.

Speaker 10 (20:54):
Certainly rallied in behind him. It was an extraordinary monologue.

Speaker 9 (20:58):
He sent a message to the American President, essentially saying
that he had tried to get him off air and
force his staff out of jobs. He wanted to silence people. Ever,
what he said was a joke. Now wind the clock back. Yes,
Jimmy Kimmel made a comment about the suspect charged over
the assassination of Charlie Kirky was then sidelines and it
was feared that that would be the end of him.

Speaker 10 (21:19):
But Disney ABC they brought him back, but not.

Speaker 9 (21:22):
Brought him back to everybody, because it seems that a
whole bunch of ABC affiliates Next Star and another one
as well that have a whole hostess stations across the
United States of America decided not to bring Jimmy Kimmel back.
But needless to say, the late night TV host did
what he does best, and that is get in front
of a television camera and speak. He pretty much spoke

(21:44):
for the heart tonight. I think two this was a
moment that he wanted. It's a moment he's clearly savoring us,
a victory for free speech. I don't think Donald Trump's
supporters would have been widely watching it too much because
the criticism of the American President was essentially he was
trying to use his media watchdog to silence somebody who
was a critic of him, and that had been the

(22:05):
criticism that had been the concern, but it seems at
least in this instance, Jimmy Kimmel has won for now,
but the American President of Truth social tonight to say, essentially,
he's not that happy about it.

Speaker 2 (22:15):
Jonathan Kursley, I used, correspondent, appreciate your time. It is
nineteen away from five Ryan Bridge. Is a bit of
what he said to the UN. By the way, this
is Trump after the technology problems.

Speaker 7 (22:25):
And I don't mind making the speech without a telepraptor
because the telepraptor is that working. All I got from
the United Nations was an escalator that on the way
up stopped right in the middle. If the first lady
was in great shape, you would have fallen.

Speaker 2 (22:42):
People are texting in the show to say, you know
you've got trumped arrangement. I'm not when I say I
think he's funny. I'm genuine. I do nothing but burst
into laughter when I hear what he has to say,
because this is so outrageous, especially because he's the president
of the US United States of America. Tanya, calm down
on the text. I think it's hilarious.

Speaker 7 (23:03):
Let's put it this way. People don't like taking big
loads of drugs in boats anymore. Likewise, in a period
of just seven months, I have ended seven unendable wars.
They said they were unendable, and sadly, in all cases
the United Nations did not even try to help in
any of them.

Speaker 2 (23:23):
One more, this is climate change.

Speaker 7 (23:25):
This climate change. It's the greatest con job ever perpetrated
on the world in my opinion, climate change, No matter
what happens, you're involved in that. No more global warming,
no more global cooling. All of these predictions made by
the United Nations and many others, often for bad reasons.

Speaker 2 (23:45):
We're raw politics back how nixt news talks in b
It is seventeen to five politics.

Speaker 1 (23:51):
With centric credit, check your customers and get payment certainty.

Speaker 2 (23:54):
Quarter to five news talks in b. So we've got
Ikea and now we have a Swede at the top
of the Reserve Bank at least from December first, which
is when her term starts. All announced today by Nicola
What is the Finance Minister? Azaria Hall is our senior
political reporter. Zaria Good afternoon.

Speaker 11 (24:10):
Good afternoon. Yes, this is a big story.

Speaker 8 (24:13):
Craning a new chapter today, a new chapter in New
Zealand's history and a new chapter for the Reserve Bank.

Speaker 11 (24:19):
So that's the Minister of Finance, Nikola willis there as
you say, confirming the new Reserve Bank governor. Goodbye Adrian
or goodbye interim Governor Christian Hawksby Hello doctor Anna Breman.

Speaker 12 (24:31):
So.

Speaker 11 (24:32):
Doctor Breman has been appointed the next governor of the
country Central Bank. She has a PhD in economics. She
was the Deputy governor rather of Sweden Central Bank since
twenty nineteen, leading that through COVID SO an international search
was launched to find the right candidate. It initially identified
three hundred candidates. A long list then was created. Of

(24:53):
ten people, four were shortlisted. There were interviews with the
board in July, and she was nominated. Here's the US
Finance Nikola Willis speaking about her work.

Speaker 8 (25:02):
Doctor Breman brings to the role an impressive blend of
technical expertise and organizational leadership experience. She holds a PhD
in economics from the Stockholm School of Economics and has
previously been group chief Economist at Sweatbank, a leading Swedish
commercial bank. She has also worked at the Swedish Ministry

(25:25):
of Finance, the World Bank, and as an academic economist
in the United States.

Speaker 11 (25:31):
So she appeared in a press conference in the Beehive
theaterre at this afternoon, speaking to New Zealand for the
first time with the Minister of Finance and doctor Breman
has given us a sense of what we're in for
under her leadership.

Speaker 13 (25:42):
There Sir bank should and it will remain a source
of strength and stability for the New Zealand economy. And
together with the board and with staff, we will achieve
this by focusing on our core mana and.

Speaker 11 (26:01):
What are those sort of core ideals of the Reserve Bank?
While she says the first is price stability.

Speaker 13 (26:07):
We will stay laser focused on delivering on low and
stable inflation.

Speaker 11 (26:14):
The other goals are promoting financial stability and a safe
and efficient payment system. So she's also spoken about the
importance of having a transparent reserve bank. This is an
important one. Have a listen to this.

Speaker 13 (26:25):
There're sour bank lists high in international rankings of transparency,
but I do believe that there is more work that
needs to be done. So we will strive for transparency,
accountability and clear communication within all the work that we do.

Speaker 11 (26:42):
And I'm sure this will be music to the ears
of so many people. I mean, there were questions about
when Adrian or resigned. In terms of the transparency of
the Reserve Bank, so many people were asking where certain
pieces of detail were information that may have been left
out of Official Information Act responses things like that, hopefully
it looks like that saga is behind us now there'll

(27:04):
be someone at the helm very soon. So the Minister
of Finance, Nichola Willis also confirmed that the opposition was
told of this appointment and she's confirmed they've had no
real issues with that. Labour's Barbara Edmunds says doctor Breman
has an impressive background, wishing her well for the role.
Also interestingly, this appointment makes doctor Breman the first woman
to be governor of New Zealand's Reserve Bank. Nikola Wellis

(27:27):
spoke a little bit about this today.

Speaker 8 (27:29):
We only ever want to be selected for a role
because we are the best candidate, not because of our gender. However,
it is also the case that it certainly makes a
difference when young women and girls can see that there
is no office that cannot be occupied by a woman.
And I am glad that my daughters will be raised

(27:51):
in a time where they can see that the Governor
of the Reserve Bank can be a man Or, a woman.

Speaker 11 (27:57):
And doctor Breman, says she's confident on the economy, She's
looking forward to finding out more about New Zealand's culture
and history and also another big update a new chair
of the Reserve Bank that will be announced before the
end of the year.

Speaker 2 (28:10):
All right, very good, and we've got the mood of
the boardroom showing well, Paul showing for the Prime minister
was ranked what fifteen sixteenth than his own cabinet And
the inevitable question does that mean he's going to be
a leadership thing, which is always a bit of a
dumb question, especially at a time like this for a
national party. I would have thought Zaria.

Speaker 11 (28:25):
Yeah, well, it has been a hotly discussed topic today.
But there is that, I mean, there is a huge
high threshold in terms of something like this. So yes,
The survey of one hundred and fifty chief executives has
ranked the Prime Minister Chris Luckson fifteenth out of twenty
eight ministers on performance. It puts him in the bottom
half of the table. He had a rating of two
point nine six out of five And Chris Luckson has

(28:47):
answered some questions in terms of his reaction to this.
The main question from some will you be standing down?

Speaker 3 (28:54):
No, no, I'm here to do a job.

Speaker 14 (28:56):
I came to politics four years ago because this is
an awesome country. It's got fantastic potential and we're dam
we're going to go make it and get realized.

Speaker 11 (29:02):
And the Prime Minister is also confident in how the
other ministers are doing.

Speaker 14 (29:06):
We decided we're going to play as a team and
that means we put my job as the Prime Minister
and as the leader of the team is to make
sure I've got the right people in the right positions
on the team at the right time.

Speaker 11 (29:16):
And also someone who had a poor display, Chris Hipkins,
the Labor leader. Hipkins was rated two out of five
on performance, more than seventy percent of business leaders giving
him a rating of just one or two out of five.
So that's worse than the PM. Meanwhile, Labour's finance spokes
to sim Barbara Edmunds, leads Labour's performance rankings. She's on
three point two out of five.

Speaker 2 (29:36):
Sary appreciate that Zara Hale in Parliament nine away from
five year old news talks. He'd be a little update
on who's getting solar power and who's lying about wanting
to get solar power and coming up next also Nikola Willison,
all of the af I mentioned after five Hard.

Speaker 1 (29:50):
Talk Bold Takes Big Stories. It's the Mic Hosking Breakfast.

Speaker 15 (29:55):
New Pathways two Residency. Rick Stanford is the Immigration Minister.
Is this driven by fear that people will leave the
country partly?

Speaker 16 (30:02):
But we've always had a really good, strong residency program
where people who are skilled and have a knowledge and
talent we need we always have a residence pathway for them,
and we don't in this case because of the settings
of the previous government and we've just fixed that.

Speaker 15 (30:14):
Peter talks about the thirty percent. I mean, we have
seen a remarkable transformation in the ethnic makeup of this
country in the last decade or so, haven't we.

Speaker 16 (30:21):
Well, you could argue that we have for a very
long time.

Speaker 3 (30:24):
Is that good or not?

Speaker 16 (30:24):
Well, I'm interested in people who can help drive our
economy back.

Speaker 15 (30:28):
Tomorrow at six am The Mic Hosking Breakfast with Mayley's
Real Estate News Talk ZIBB.

Speaker 2 (30:33):
It is five to five News Talk zaib Rising energy
costs apparently driving people to talk about solar and think
about solar and you know when you hear about surveys,
and there's a thing called the warm glow effect where
if somebody says to you, hey, do you care about poverty,
and you go, of course I care about poverty, and
so you know, do you care about client? Of course
I care about climate change, But do you actually you know,

(30:56):
would you actually go and do something about it? Anyway?
I think there's a bit of that at play, a
bit of instagram B reality on solar panels. This is
a Westpac New Zealand Commission survey, five hundred people and
the headline is nearly half of Kiwi's have either installed
solar panels or are considering doing so. So nine percent

(31:16):
they reckon already have the panels, so that's a bit
of a one one to start worth. Thirteen percent plan
to install them within the next year, and twenty five
percent intend to. Yeah, of course I will, of course
I will anyway. The reality business testment in checks. According
to the Electricity Authority official figures, seventy three thousand systems
installed nationwide. That is three percent of all connections. It's

(31:39):
four minutes away from five. Now, in case you thought
you were safe, Typhoon Tory is not done with Wellington yet,
Farno has revealed plans for a run at Parliament with
the Greens. She said she wouldn't, then she said she would,
then she said she wouldn't. Again, did the same thing
with the Meryalty. So would love to know, genuinely love
to know what the Green Party leadership actually thinks of her.

(32:03):
Wouldn't you love to be a fly on the wall
or do you think they'd be too scared to even
share an opinion, you know, a real opinion like oh god,
she's useless and waste of space and all we don't
want to anywhere near our party. I don't know whether
they would be that honest with each other, whether they
would just have internal thoughts that they would then self
flagellate afterwards.

Speaker 12 (32:23):
You know.

Speaker 2 (32:24):
Anyway, it's interesting because of what the state that Wellington's in,
to have somebody running for national office and saying, look
at my achievements and then turning, you know, looking around
behind them and seeing Wellington. It's a bit like San Francisco.
It's our San Francisco, isn't it. Wellington? It's an absolute mess.

(32:45):
Not saying it can't be fixed, but would you elect
the person who ran it into help run it into
the ground to national office. Would you elevate them to
such heights? She certainly thinks she can and plans to
as well. Hardly a poster child for how you envision
the country to look. I would have thought three minutes
away from five newstalks, they'd beat. Nichola Willis on the

(33:07):
new Reserve Bank governor.

Speaker 1 (33:09):
Next, pressing the newsmakers to get the real story. It's

(33:34):
Ryan Bridge on hither duper se Ellen drive with one
New Zealand coverage like no one else news talks'd be
good evening.

Speaker 2 (33:41):
New Reserve Bank governor is Swedish doctor Arna Breeman is
the name to I see at Sweden's Central Bank. Former
chief economist at a retail bank, big CV. Nicola Willis
Finance minister with us Good evening, Good evening. Did she
apply for this job or was she shoulder tap to
apply for this job?

Speaker 8 (33:58):
She made a former webla for this job. The Reserve
Bank went through a process of both advertising and also
doing a large international search to consider people that could
be qualified for the role.

Speaker 2 (34:12):
Oh so she got shoulder tapped then applied.

Speaker 8 (34:16):
I actually don't know what the sequence was with her,
but I know that she was one of the eleven
candidates who formerly submitted an application for the role.

Speaker 2 (34:24):
Only eleven people applied. What would have thought they'd be more.

Speaker 8 (34:29):
Well formerly submitting an application for the role as a
commitment to a significant process. Of those eight were international
applicants run which tells you that there were a number
of people internationally who were prepared to make that move
to New Zealand to take up the esteemed position.

Speaker 2 (34:48):
What was the caliber like of those applicants?

Speaker 8 (34:51):
The Reserve Bank Board tell me that a very high
caliber of applicants with extensive experience and skill across a
range of backgrounds finance, central banking, government, and they were
very happy with the choices that were made available to them.

Speaker 2 (35:09):
Very big on transparency, which I like the sound of.
And over in Sweden they do things like actually publish
the minutes of the Monetary Policy Committee meetings. They tell
you which way a member voted, They tell you the
reasons why their justification, a whole bunch of stuff they do.
Will that be up to doctor Breman to decide or

(35:29):
is that a board decision or is that a you decision?
Changing next time?

Speaker 8 (35:34):
Well, that's certainly something that doctor Breman will have input into.
Along with her board, I issue something called the Monetary
Policy Charter, which sets out a greed expectations between me
and the Reserve Bank about how the Monetary Policy Committee
conducts itself. And those are conversations that I expect will
happen once doctor Breman has come into the role in December.

Speaker 2 (35:57):
Okay, you would like to see more transparency around that
stuff though.

Speaker 8 (36:02):
Look, I'm a big fan of transparency and openness because
I think it leads to two things, one greater trust
and two greater accountability. And I think both of those
are good forces. And what is a really important economic institution?

Speaker 12 (36:16):
Right?

Speaker 2 (36:16):
This stuff about the long term fiscal track for the government.
This is treasuries forty years ahead. Look, and it's more
of what we kind of expect that we will run
out of money as a government and not enough revenue
and expenses will keep going up with health and aging
and all that kind of stuff. Is this what do
you do about this? Is this why you come to

(36:38):
the election next year with something to do with super
and something to do with Kewy Savor.

Speaker 8 (36:45):
Well, Look, we know that changing demographics are already having
an impact on the government's fiscal position and that will
continue to grow, is there a fewer working aged people
to support a larger number of people who require superannuation
and higher amounts of health service. But what the Treasury
highlights in that report is that it's not one big
radical change that needs to be made all at once.

(37:06):
They're highlighting that lots of individual changes will have to
be made over the longer term, and to achieve fiscal
sustainability over a period of decades is something that successive
governments will all have to chip away at over the
next few decades. And I've made clear that one of
the important first steps is that we return the books
to surplus and bring deck down to more prudent levels.

(37:28):
That's what we're working hard on, and I have highlighted
that our superannuation and key we saver settings are something
that I think over time all parties will have to
come to positions on and come to the campaign trail with.

Speaker 2 (37:42):
You made some comments this morning at the mood of
the boardroom, which haverged a few people in the business
community have been contacted by some of them today, some
of them have texted in this afternoon. It went done
like a bit of a cup of cold sick. This
comment that one hundred and fifty people in that room,
not representative of the five million kiwis that you represent.
Some of them felt like it was punching down on
the business community, which is something you've done with They

(38:05):
argue with the grocery sector, with power companies, a whole
bunch of stuff. Do you accept that?

Speaker 8 (38:11):
Well, no, I think that that comment's been taken really
grossly out of context because I prefaced my remarks at
mood of the boardroom today extensively with a few comments.
One that the people in that room matter incredibly to
the New Zealand economy because their decisions impact on job creation,
income growth, investment, and actually are determinative of the economic

(38:35):
growth that we want to see. And I also said
that their feedback really matters to me, that their perspectives
that they share with me, have shared with me throughout
the year, and will continue to share with me inform
my thinking and are very important. My point was that
the survey itself, Ryan surveys one hundred and fifty representatives
from a small set of companies, and of course, as

(38:56):
we know, all of those companies have sometimes hundred, sometimes
thousands of employees who will have a range of perspectives.
There are a range of small businesses in the country
that of course weren't represented in that room today, And
my point is we as a government need to listen
to a range of perspectives. That's a very important part
of governing well, not to just take the perspectives of
one group of people.

Speaker 2 (39:17):
Okay, on just while we're speaking of our companies, the
gen Taylors, have you got when's that report? Sometime in
the next week we will find out whether you're going
to break them up.

Speaker 8 (39:28):
Well, cabinet has been working hard on that and announcements
will be made in due course.

Speaker 2 (39:33):
I think of the worllest Finance Minister. Time is twelve
minutes after five. My Augland Council has been voting on
this plan change which would enable Chris Bishop's big lofty
goal of more housing in the super city and higher
housing in the super City. They voted this afternoon. Shane Anderson,
councilor with me Shane, good evening.

Speaker 17 (39:53):
Good evening, how's it go out?

Speaker 18 (39:55):
Good?

Speaker 2 (39:55):
So what have you decided?

Speaker 3 (39:57):
Yes?

Speaker 17 (39:57):
Eighteen five vote just now to pass the plan so
that will go next through to consultation and look, I
think it's a great day for the city.

Speaker 2 (40:06):
So that means that we will see fifteen story apartment
blocks next to train stations, next to city rail link
stations rather than three stories allowed everywhere.

Speaker 17 (40:19):
Yeah, that's right. So the plan is to intense fire
long rapid transit corridors and make the most of that
CURL investment as well.

Speaker 2 (40:25):
And what does it mean? How many extra houses do
you know in near that?

Speaker 17 (40:29):
Yeah, so we've been given a target which is legislated
of enabling two million. Now the reality is we're not
quite sure exactly how much of that will actually be built.
That's a capacity that we have to provide. But yeah,
we'll be expecting some significant investment over the coming years.

Speaker 2 (40:44):
Shane, that sounds great. You obviously voted for it. What
is a point of the consultation.

Speaker 17 (40:49):
Now, Yeah, I think it's time for people to feedback
in and say, look, we might have got this all
that area wrong, or make some adjustments to people's neighborhoods
and things like that. It's really important that we allow
people to have their say and we'll certainly take that
into account.

Speaker 2 (41:04):
Well you really know, of course, mate. So if someone
lives in Epsom, someone lives in Kingsland and they don't
want come, hello, high water a fifteen story apartment block
next to their house. You're going to say, okay, sure.

Speaker 17 (41:21):
Yeah, Well there's a process for that, right, And we're
seeing entire neighborhoods and residents of rapids groups such engage
in that process already, and so they have a conssation
period to do that, and yeah, do let us know
it is important as part of democracy.

Speaker 2 (41:34):
Appreciate your time, Shane Henderson, Open Counselor. It's fourteen minutes
after five, Ryan Bridge, You're on news talk c here
b in New York Streets. I love the story from
today because it was just a bit of light relief.
But Emmanuel Mahome, French President, gets on the blower to
Trump because he's waiting on the side of the road
and trying to get to a meeting at the UN
and is held up by a modicaid which he thinks

(41:56):
is Trump's modicaid. Turns out it is Trump's modicaid, and
he says, next, standing next to the cop gets on
the phone and does this, how.

Speaker 19 (42:03):
Are you.

Speaker 20 (42:05):
Guess what I'm waiting attic as everything is causing.

Speaker 2 (42:10):
For you, So basically calls Trump out and doesn't actually
fix the problem, waits on the side of the road
for a little while longer, and it's all caught on camera.
But he just wanted to prove I think that he
had his number and that if he calls Trump will
answer quarter past five News Talk CB it's five to eighteen.
Most kiwis will have to pay the same as international

(42:31):
tourists to park at conservation sites this summer under a
trial Mount Cook, Dollarmite Point Friends, Joseph All trial five
dollars an hour charge with the option of twenty five
dollars a day. This is for a rate a day
rate rather sixty bucks for an annual pass. Locals can
park for just ten dollars a year, but other kiwis
will pay the same as the international visitors. So why

(42:54):
President of Federated Mountain Clubs, Megan demizonos is with us.
Good evening, good evening, Great to have you on the show.
So is it fear that we kiwis, well most of us,
unless you live locally, would pay the same as an
international tourist.

Speaker 21 (43:09):
Yeah.

Speaker 22 (43:10):
Obviously FMC advocated for the charge to only apply to internationals,
and so we're disappointed to see that the charge is
going to apply to kiwis as well.

Speaker 2 (43:23):
Didn't they sort of imply, I seem to remember when
they announced this that we would get a cheaper rate.

Speaker 22 (43:31):
Yeah, And I'm not sure about what's happened in the
background where they've decided that they're no longer going to
do that. But I guess the problem is that twenty
five dollars is probably not going to have a significant
enough impact on the crowding issue that doc claims to
be trying to address, but it will unfortunately have an
impact on low income families that are struggling with cost

(43:53):
of living crisis. So I don't know that this is
really a solution and its own right for the outer
the overcrowding issue.

Speaker 2 (44:01):
If you're going to friends, Joseph, I mean, you're going once,
aren't you. You know, if you don't live nearby, you're
only going once. It's twenty five bucks to pay once.
It's a beautiful place to see it. Things kind of reasonable.

Speaker 22 (44:14):
Yeah, I guess for our members in particular who are
back country users, you know, they all go into an
area for days at a time, so you know, a
back country usable will probably end up paying the sixty
dollars rate. Just to park once so that they can
go into the back country, so they're not actually using
the facilities in the area. They're quite a small number

(44:36):
of people, they're not necessarily the cause of the overcrowding problem,
but they're also going to shoulder a fairly unfair portion
of the burden.

Speaker 2 (44:45):
All right, I appreciate your time, Thanks so much for
being with me. Again. That's Megan Demizentos, who's the president
Federated Mountain Clubs. It's It's sorry twenty past five on
News Talk CBS and Bridge. A little update on Jeffrey Epstein.
We'll get to that later on. It's to do with Fergie,
poor old Fergie. Well, a lot of people saying, actually,
not pull Fergi. She'd lie to us, she mislead us.

(45:07):
How dare she? And all the charities are pulling pin
on her as well. We'll get a lot back from that.
And also take a look at this look Ahead forty
years ahead. So Treasury, this is the sixth edition, comes
out and says, forty years into the future, what's the
fiscal trap looking like for the government? Revenue, expenditure, population,
government debt, all that stuff. I've had a look. I'll

(45:29):
break it down for your next.

Speaker 1 (45:31):
Cutting through the noise to get the facts. It's Ryan
Bridge on hither duplicy Ellen drive. With one New Zealand
coverage like no one else's news talks, there'd.

Speaker 2 (45:40):
Be five twenty four. Can we say the contributions in
my mind have to go up and migration is good
for this country. I know I've been saying and many
others been saying this stuff for ages. But Treasury's long
Term data report out today I think confirms why they
estimate the government carried on spending and taxing in the
same way it does right now for the next forty years.
Spending per person doubles, government debt breaks two hundred percent

(46:05):
of GDP. We're a small trading nation. We can't afford that.
Ain't nobody got the money or the time for that.
Your big ticket items are New Zealand super and health.
Of course everyone's getting older. This stuff is expensive as hell.
So the answer in part is kiwisaver and migration. Why well,
KIW Saber needs to be somewhere nearer the Aussies. They

(46:26):
are sitting on nine to eleven percent depending We're at
three moving to four. Our Kew Saber balance is total
one hundred and twenty one hundred and thirty odd billion
dollars there is for trillion for a start. What we
also learned from this report is that despite Uncle Winstont
telling us migrants and what he tells us, migrants are

(46:46):
saving our bacon. They are a major reason why government
costs haven't skyrocketed to the extent that they thought they
would last time Treasury ran the long term numbers. Migrants
come in young, they work, they pay tax, and they
help fund super and help so Key, we Saber and more.
Kiwis That's what I'm taking away from today's Treasury report.

Speaker 23 (47:09):
Ryan Bridge, twenty five after five on news talks, you'd.

Speaker 2 (47:20):
Be get ready the hoff remember this, just you're picturing it.
You're all picturing the same Then slow motion running down
the beach, those watermelons bouncing. You know you're all thinking
about the same thing. So Iconic launched in nineteen eighty nine,
the most watched TV show on the planet at the time.

(47:43):
Incredible success and it's a wonder they haven't done this yet.
But finally a new series is coming. This is according
to Fox. In the US feature twelve episodes. Pamela Anderson
don't know if she'll be back, donno if any of
them will be back. Actually, but the president of Fox
Television Network said the original series to find an entire

(48:04):
era of beach life and elevated lifeguards to an iconic status.
How to argue with that? Now, with our partner's Fremantle,
they say this television juggernaut is set for a modern
day comeback. I can't wait twenty six after five. Actually,
they could do worse than this Australian Nikki Osban's Osborne
is her name? This Australian radio host who is getting

(48:27):
some flakness across the Tasman because she has worn a
particular outfit to a Brisbane airport. And I want to
just part Brisbane for a second because just you know
what it's like over there. They basically wear nothing. You know,
if you go to the Queensland, it's not known for
you know, cardigans, is it. Anyway, she's in trouble for

(48:48):
going to Brisbane airport, kicked out of the Quantus lounge
because her top was too revealing, had cleavage. I think
the problem is it was lace. But she's given the
boot and that she was told it's culturally insensitive. Now
I don't know about you, but the last time I checked,
Australia was literally advertising themselves with you know where the

(49:11):
bloody how are you a check in a bikini? So
culturally she's right on the money. Put her in the show.
Twenty seven after five.

Speaker 3 (49:25):
Hard questions, strong opinion.

Speaker 1 (49:27):
Ryan Bridge on hither do for cellen drive with one
New Zealand and the power of satellite Mobile News Talks
d B.

Speaker 2 (49:40):
Twenty five away from the six News Talks, said B
we'll get to Scott Simpson on the credit card surcharge.
Calls for that to be scrapped already. This is the
ban on the surcharge that the government wants to introduce.
Their business community not happy with that. Also, two degrees
after sex, we'll look at this interesting story two degrees.
Net loss is up widens on one offs, but operating

(50:01):
earnings have grown. That's despite the economic headwinds, and they're
making inroads into the telco market. So interesting stuff. I
think they consider themselves call themselves a technology company. So
we will talk to the chief executive after six, right,
I find this really interesting. The feedback on the Reserve
Bank governor who's going to take the job December first,

(50:24):
Ryan's so patronizing the emphasis on the new governor being female.
I'm a woman in my late fifties and I feel
it does us a disservice every time we emphasize it
and talk about it. So thanks point taking. I haven't
mentioned it. Nicola Willis obviously made a thing of it
at the press conference, but I think it's more interesting
that she is Swedish. Ryan b twenty four away from six.

(50:49):
Let's get to Scott Simpson now on this business. Unhappy
that the credit cards to charge ban is going ahead,
they want it to be scrapped. In an open letter
to Consumer Affairs Minister Simpsons, as leaders around the country
say stopping them from passing on bank fees will backfire.
The warning the ban will mean higher prices for all
customers or more pressure on already struggling businesses. Either way,

(51:11):
not a great outcome. Scott Simpson's with me now, Minister.
Good evening, Good ay, Ryan, what did you make of
the letter?

Speaker 24 (51:18):
Look, I understand the messages that they are sending, but
Retail New Zealand are representing their members and I'm keen
to get a good outcome for New Zealand customers and consumers.

Speaker 2 (51:31):
Okay, So that means going ahead with it? Yeah, absolutely, okay,
so just ignore the letter.

Speaker 24 (51:39):
Well, no, look, listen to the views. The legislation that
will ban these pesky little surcharges is currently at Select Committee.
I'm sure that retail New Zealand will make a submission.
We'll listen to what they have to say and hear
what the Select Committee decides, and then take all those
views into account before the legislation is finally passed.

Speaker 2 (51:59):
You say that businesses should pass on the savings they
get from the banking fee changes made by the ComCom.
Why not force them instead of making it optional.

Speaker 24 (52:09):
Well, by banning surchargers, we are actually forcing them to
pass on those savings. At the moment, there is no
way to guarantee that those savings that the Compom is
going to have brought into effect by the first of
December will actually ever be passed on to customers. Currently,
New Zealanders spend about one hundred and fifty million dollars

(52:32):
a year on surcharges and ComCom estimate that up to
sixty five million of that it's actually overcharging by retailers.

Speaker 2 (52:41):
What do you I mean, what do you expect them
to do. The big problem here they're saying is they
get charge the fees. This is their way of passing
them on. Otherwise they have to up the prices. Well,
I mean, what do they what are they expected to do?
What do you expect them to do with those fees
that they have to pay.

Speaker 24 (52:56):
Well, some certainly will pass on the fees, but just remember,
as we've just said that the Commerce Commission is regulating
the price down of those bank fees, so that's coming
down on the first of December. Some businesses will add
costs into the shelf price, but many won't. In fact,
the majority of New Zealand businesses don't charge sir charges currently,

(53:18):
so the ones that choose to add that pricing in
will be actually competitively constrained in the marketplace by those
businesses that choose not to do so.

Speaker 2 (53:29):
Hey, Minister, how excited are you by Christopher Luction's leadership.

Speaker 24 (53:34):
Oh look, we're a team. I think Christopher Luxon's doing
an exceptionally good job as Prime Minister. But you know,
New Zealand's going through difficult times. It's challenging difficult times.
It's been a long, cold, wet winter and the economy
is sluggish. We all know that and we desperately want
it to improve. But I am very confident that under
his leadership it.

Speaker 2 (53:53):
Will appreciate your time. Scott Simpson, Minister of Consumer Affairs
and big backer of the Boss. It is twenty one
away from Sex.

Speaker 1 (54:02):
The Huddle with New Zealand Southeby's International Realty. Find your
one of a kind.

Speaker 2 (54:09):
You're on News Talks b it is twenty away from
Sex Now. Fellow Riley Iron Duke, Partner's former bost of
Business New Zealand on the Huddle tonight alongside Jack Tame,
host of Q and A Saturday mornings on News Talks.
Be good evening, Hey you doing? I think good to
have you both here. Fell your summation after the mood
of the boardroom today, they responses various responses from government ministers.

(54:30):
What are you making of it all?

Speaker 18 (54:32):
Oh, I was just a cry of frustration. I think
Ryan and noticed that the opposition isn't too too well over,
so you know, it was a bit of a pox
and everyone's houses and in that sense, and I think,
you know, I think it is a bit of a
cry of frustration. I think it's a bit of a
cry of saying could you please listen to us a
bit more. I certainly get some of that feedback from
the business community. I didn't expect that. It didn't expect
the Prime Minister defair quite so badly as he did.

(54:54):
But certainly, you know, there's some good messages for them
there about listening to the business community and taking a
bit of advice feedback. And I think I think it
will turn around as there's the economy starts to turn around.
There is an element of that, but there's an element
also this this personal stuff. I think that needs that
he needs to overcome.

Speaker 2 (55:09):
When you say personal stuff, you mean just likability.

Speaker 18 (55:12):
Yeah, well the idea that you know that a lot
of the business people saying, you know, we want to
talk to them and we want to give them some
feedback and sometimes that's difficult, and so that there was
some there were some some frustrations expressed about that, and
of course he'll have a different view on this, but
you know, if that's the frustration, then okay, well let's
do something about that. But I think, as I say,
it's it's as much about the economy as well as

(55:33):
as God Thumpson just said, you know, everybody's frustrated about
what's happening here, and so that does tend to lead
to more difficult relationships. Of course you know this. You
know this is the story along the along thease lines
all the time. So as the economy starts to pull
out and then the green shoots are out there, everybody,
I'm talking to you as a green shoot story to
tell me you'd hope that that relationship will improve.

Speaker 2 (55:54):
Jack. It's interesting because the business community is saying you
need to do more, but it's not exactly clear exactly
what they want them to do differently, you know what
I mean.

Speaker 20 (56:04):
Yeah, although I mean, having said, I think the feedback
was pretty clear that there feels like there is a
communication impart right. A lot of people felt like Christopher
Luxen came to the job as Prime Minister boasting about
his business credentials. I mean, he knows, you know, two
thirds of the Sea Suite in New Zealand. So I
think a lot of those people would have expected that
have the ability to pick up the phone, have a

(56:25):
yarn every now and then, not have them on seed
down necessarily, but that their concerns and feedback would be
taken on personally from the Prime Minister, and I think
the sense you got from the results today was that
in the eyes of some of the respondents, at least
a meaningful number of them, that at least isn't their
feedback At the moment. I've got to say, move the boardroom,
just get better every year, but I feel like every

(56:47):
year more the kind of insights that we're getting from
the business community are richer, but are actually we can
deleep A Fonseka and Business Desk had a great point
in his analysis today, as he so often does, and
that he said a lot of the frustration being expressed
by the respondents wasn't so much directly about the government,

(57:07):
but it was they felt that the government's relatively poor
performance was making it more likely that a labor league
government would be back in an eighteen months time, and
that seemed to be a real kernel of frustration for
many of the respondents.

Speaker 2 (57:20):
Hey, Phil, what did you make of the fact that
we've got a or two I see at the Swedish
Central Bank coming to head out.

Speaker 12 (57:29):
Yeah.

Speaker 18 (57:29):
I checked with some of my Swedish friends just a
few hours ago, so you know what's the story? And
I hear from them that she's highly regarded in Sweden,
So that's very very good. The challenge, though, Ryan, is
that Sweden is a very very different economy to New
zual like really different. It's an the eew economy. It's
much wealthier, it's got very different geopolitical stuff. You know,
it doesn't have the same concentration on China in the

(57:51):
specific that we do. It's a much less fragile economy.
So as always with these overseas appointments, this is a
bit of a thing that goes around Willington from time
to time. They can often walk in as Superman and
turn out to be Clark Kent, not because they're not
because they're not very good personally, but because they just
don't know what's going on in New Zealand. They don't
know the people here. It's a small community here in

(58:12):
the business, in the business world and the political world.
So sometimes they don't go so well because of that.
So what will be really important is for this new
Reserve Bank governet to get out and talk to the
business community, to talk to people, talk to community groups,
really listen and then put in place a strong team
around here. Given the fact the RBS you know, not
going so well right now, get a good local team

(58:32):
around here, and if she does that then there's a
good chance she'll succeed. But clearly a signal from government
that big change was necessary and they've executed that change,
haven't they clearly.

Speaker 2 (58:42):
Yeah, a bit of a new dawn for the Reserve Bank, hopefully,
Jack the main thing to get your head around, of course,
it's just the housing market. We're into it, we love it,
don't mess with it.

Speaker 17 (58:51):
Yeah, Yeah, I just think so.

Speaker 20 (58:54):
Although Ryan, I think I think it's important to point
out that, of course the Reserve Band Governor now sits
on a month try policy committee, so it's not like
that one person is a bizarre siding where the ocr
should be sitting. I think too that if she can
do one thing, and from what I've read of her
reputation today, it suggests that she might be well well
placed to do this, it's just to improve perceptions around transparency.

(59:16):
I just think the last seven months or so that
the bank's reputations has taken a real hit with Adrianaw's
departure and the handling of that departure, I think it's
I think it's been really damaging and if she can
come in steady the ship and say from the word
go and prove from the word go, you know, really
show it to people who watch the bank's movement that
she's utterly committed to transparency. I think that'll restore a

(59:37):
lot of the confidence.

Speaker 2 (59:38):
The film, the Monetary Policy Committee, and you know, the Fed,
the Bank of England, the Central Bank in Sweden, they
all publish and say which way the members voted, and
even in Sweden they tell you the justification for the
way they voted too. Would you like to see something
like that here?

Speaker 18 (59:57):
Yep. I think it's a good idea, and I read
that in two and I thought there's something to that.
It can be a bit scary because we're a small
society and a bit passive aggressive, aren't we, as kiwis,
and so maybe we don't want to know how Dave voted,
or Dave's a bit uncomfortable about that. But that's the
very point that's being made. I think we should do that.
That's actually the very thing to get people debating and

(01:00:19):
to make sure that everybody understands what's going on. She
also is quoted in some of the studies she's done,
some of the speeches she's done on publishing all turnate scenarios.
Here's what we're doing, Here's what we could have done.
That's another really good way of getting people to understand
why the Reserve Bank would be doing what it's doing
and why it didn't get down other tracks that people
might argue for. So I think that kind of pretty

(01:00:40):
clear transparency will be quite important and will actually help
her a heck of a lot because it'll enable people
to engage with her and to make sure that she
understands the New Zealand realities fell and Jack.

Speaker 2 (01:00:52):
On the huddle tonight fourteen to six, Back in a jiffy.

Speaker 1 (01:00:57):
The Huddle with New Zealand Southeby's International Real Time, the
global leader in luxury real.

Speaker 2 (01:01:02):
Estate, Welcome back eleven to six. On news Talks, there'd
be fellow Riley and Jack tam on the huddle tonight,
Guys Tory Faro or Typhoon Tory as some call her.
She's talking about not being finished with Wellington yet, Jack
potentially going to run for national politics. I know she
said this indicated this potentially before. What do you reckon

(01:01:23):
The Greens actually think of that?

Speaker 20 (01:01:26):
Well, I think internally in the Greens, my understanding of
Tory Fano has really strong relationships and that when she
was chief of staff, a lot of MP thought she
did a really really good job. Now I'm not suggesting
for a moment that Tory Faro might enjoy nationwide levels
of support if she does decide to go down the
central government path. But I think it's perfectly conceivable that

(01:01:49):
if in years to come she decides to stand as
a Green MP, that she would find herself in Parliament.
I don't think it's that crazy ideas, Okay.

Speaker 2 (01:01:56):
Even though you know when you point to Wellington and
say that's you know, that's that'ssique whether or not.

Speaker 20 (01:02:02):
She would whether or not she would win a seat
in Wellington if she would have stand as the Wellington
central candidate, so that all the high candidate, that might
be a different question entirely. But I think I think
from my understanding, her reputation from her time as a
chief of staff for the Green Party is pretty strong,
at least in that party. So I can see that

(01:02:24):
having the support internally to get a relatively high position
on the list ten years to come. And you know,
central government is quite different to local government. So if
you know Tory decides that she wants to stay in politics,
and I can see at the very least her having
sufficient support from within the Greens to maybe make that.

Speaker 2 (01:02:40):
Really they need a chief of staff actually at the moment,
maybe she could pose you on back of the well,
what do you make exactly what do you make? Phil
of the car parks? This idea that we kiwis would
have to pay as well as the overseas tourist to
park at you know, some Mount Cock some of our
national parks, Well, can.

Speaker 18 (01:03:00):
You go to send me the story? This afternoon I
went into the newspaper and look at it. I thought,
why are we even baiting that? Why can't Doc charge
you to park in a car pack, particularly when it's
a very busy car park and a lot of people
want to go there. We parked to go to a shop,
or we parked it. It's this idea that somehow the
Department of Conservation is some god given thing that we
all get for free is ridiculous. It's a very very

(01:03:23):
sixties and seventies thought. Doc's got to pay for itself,
and it's going to kind of just after the tax
payer do that more, particularly locals getting cheap parking. And
I'm going to fly all the way down there. I
don't get advantage of Mount Cooked very easily, so why
not Why don't we have a good bit of user
pays here? I agree, and should doc should do more
of it, not less my view.

Speaker 2 (01:03:42):
Yeah, because we do complain when the tracks aren't fixed
after a storm, and it's like, well, where do you
think that's coming from? So yeahcously, Yeah, Jack.

Speaker 12 (01:03:51):
You have a view.

Speaker 20 (01:03:52):
There's a balance to be had, right, Like I think
for somewhere like oh lucky Mount Cook, it's a perfectly
reasonable thing to give it a crack, Like it's I mean,
you're to go there, if you go in there right
to Mount Cook, it's not really on the way to anywhere,
and you know, the facilities are very expensive to maintain,
so I think it's a perfectly reasonable idea to give
that a crack. Where I think it would overstep the
line is if we saw charges for entering every national

(01:04:15):
park in the country, or you know, every dock car
park in the country, so that we got to a
point where New Zealanders decided, actually they wouldn't get out
into nature quite so much. I think that would be
a bit of an issue. But for big ticket destination
spots like Alducky. Yeah, give it a crack. See outgoes Jack.

Speaker 2 (01:04:31):
Tame Fellow Riley on the huddle. Cheers guys. It is
eight minutes away from six News Talks MB.

Speaker 1 (01:04:36):
It's the Heather Dupless Allen Drive Full Show podcast on
my Heart Radio powered by NEWSTALKSB.

Speaker 2 (01:04:44):
Iive away from six News Talks MB after six we're
going to talk two degrees and they I mean, they're
not a listed company. They're making a hell of a
lot of money, well revenue, I should say, so we'll
talk about that. And they're push to sort of get
more of the market, which is a successful straate for
them at the moment, and also getting some really big clients,
big end of town customers as well, which is great

(01:05:06):
for them. Fergie, now you might there was a time
where everyone said, oh, poor Sarah Ferguson, Duchess of York.
Although if you remember this ad from I think it
was the late nineties, early two thousands, that was Duchess
of Pork.

Speaker 25 (01:05:21):
It's harder than having a thinner mother. It's harder than
men called the Duchess of Cork. It's the hardest thing
in the world staying on a diet. It makes the
hardest thing in the world not easier. One tis three,
it's working for me.

Speaker 2 (01:05:33):
So she's going down one more time. I mean, how
many times can you trip and get back up again?
But she's going down in a big, burning ginger ball
of flames. This is over Epstein and the emails, And
the problem with this one is that she's misled the public,
the British public, and they don't like that, and the
tabloids are onto it, as you can imagine. So she's

(01:05:54):
now come out and said because initially no, no, not
a friend of mine, and then the emails came out
when she said, you're a dear friend Jeffrey Epstein, even
that this is after he was convicted of pedophilia, blah
blah blah. So the latest she is now saying when
she referred to him as a supreme friend, it came

(01:06:15):
after a phone call in which he was really menacing,
used a nasty voice, which she compared to hanniballect that
justified her sending an email. Basically, she was so scared
she had to send him an email to say you're
my dear friend, please please, and then publicly said no,
he's a pedophile. And I'll have nothing to do with him,

(01:06:36):
so anyway, she's in a bit of trouble. The old
Duchess of Port York forgive me three minutes away from
six to said, being close.

Speaker 1 (01:07:01):
To keeping track of where the money is flowing. The
Business Hour with Ryan Bridge and mass for insurance Investments
and Jewey Safer you're in good as news talks'd.

Speaker 2 (01:07:13):
Be seven half and sixth grade to have your company.
This evening we'll look ahead to Treasury's forty year forecast.
This is with Brad Olson in a second also the
new Reserve Bank Governor Milford on a potential for an
AI bubble, Is it real? Is it happening or not.
We'll also talk to Mark Calender, two degree TV executive
and UK correspondent Gavin Gray. Before top of the arm,
Ryan Bridge Choosury sounding of warning bells over our public

(01:07:37):
finances and its long term fiscal forecast today. This is
their sixth edition. If the government made no changes to
current settings, net core Crown debt would hit two hundred
percent of GDP by twenty sixty five. That's largely down
to the aging population, health costs, record levels of government spending.
Brad Olsen Infametric's principal economists with us Hey Brad good Evening.

(01:08:00):
So it's interesting that some things they have in the
most recent reports sort of overestimated or underestimated. One of
those was the impact of migration on those super costs.

Speaker 26 (01:08:14):
Yes, that's right, although realistically, when you look through the numbers,
you've still got some pretty ugly challenges coming up for
the country when it comes to the cost of everything.
And I guess look, the worry a little bit is
that we've had these warnings before. We had something very
similar from the Treasury four years ago in twenty twenty one.
And realistically, I think what the Treasury is continuing to
highlight is that there's a lot of big challenges in

(01:08:36):
front of us. We don't have to solve them all tomorrow,
but we really do have to start sometime soon to
get us out of what looks like a very unsustainable
pathway going forward.

Speaker 2 (01:08:46):
But and here's the biggest kicker for me.

Speaker 26 (01:08:48):
You can't do any one thing and it will magically
solve our sort of fiscal challenges. There's a lot that's
going to have to happen that will be unpalatable to
politicians across the political spectrum, But by god, we've got
to start soon.

Speaker 2 (01:09:02):
Isn't every country and would they not be getting the
same report?

Speaker 26 (01:09:06):
Oh, they probably are getting the same report, But again
I think probably for New Zealand when we're looking at
some of these factors, we know that and Treasury has
highlighted this in their analysis, that we continue to have
to pay something like ten percent of GDP every decade
for the various economic crises that come up. Yes, other
countries have also got to pay for that, but Trusury

(01:09:26):
is now highlighting that considering where debt actually is more
around forty three percent of GDP that originally expected if
you go back in time, that we'd currently be sitting
around twenty three percent. So we've eroded our savings and
buffers for stuff. Yes, other countries are also wearing it,
but again we've sort of got a look after ourselves
start with, and at the moment we're not on a

(01:09:47):
sustainable path.

Speaker 2 (01:09:48):
What did you make of ann A Bremen the appointment
of the two ic to the Central Bank in Sweden
being appointed to head our Reserve bank from December. Look,
I thought it very smart, pragmatic appointment.

Speaker 26 (01:10:03):
She has, of course a PhD in economics from Stockholm University.
You know, she's got the ability the nolse to take
on board the challenge that is a central bank, and
I think importantly when she was asked around what she
wants to do, what she's going to do in the role,
her immediate first answer was I need to keep a

(01:10:23):
laser focus on in fation and keeping that low and stable.

Speaker 12 (01:10:26):
And that was exactly what we needed to hear.

Speaker 26 (01:10:28):
But it was reassuring that that really is that the
immediate focus for the Reserve Bank governor coming in. Of course,
she does come in after the last monetary policy announcement
for the year, so she'll only be starting to assist
or be part of those interest rate setting discussions from
February twenty twenty six. It does sort of suggest that, look,

(01:10:50):
we've got a few interest rate cuts that are likely
to come through before she takes up her appointment, but
does give, I guess, give her the summer time to
get her head around sort of where the news here
and economy sitting, and hopefully hit the ground running as
we head into the new year with some pretty big
challenges and a lot of uncertainty.

Speaker 2 (01:11:07):
Still, yeah, it's conceivable that her first vote might be
to hold if all the cutting is done this year
out of come February next years. Yeah, that's exactly right.

Speaker 26 (01:11:19):
And I think I mean one thing though, and that's
why it might be important to have her on board
for that first discussion of a hold is because she's
been pretty clear, not only today but actually in a
lot of her analysis that she's done in her current
role around the importance of transparency from central banks and
that Look, there's a lot of uncertainty and challenge out there,
but central banks have got to communicate well with the public.

(01:11:40):
They've got to communicate well with financial markets about all
of those tricky things. And I think again that focus,
alongside what she's saying around inflation, they're very much striking
the right tone so early in the piece.

Speaker 2 (01:11:51):
Yeah, absolutely, Brad appreciate that. Brad Olson Informetric's principal economist
with us tonight, eleven minutes after six. I'm just looking
at the Prime Minister on TV and actually the TV
one is doing the mood of the boardroom, which would
be great. The hero will be happy with that, and
so they should be. But I'm just looking at it
on the TV and I'm just thinking about the high
vis issue. You know if and just Cindra Doom was terrible.

(01:12:15):
They're all as bad as each other. Actually, they're all terrible.
And the ANIMA. Every time it rains, they put ANIMA
coach a jacket on, you know, the National Emergency Management Agency.
But do you is it a requirement that you have
to have a high vis on whenever you go in
front of a television camera or is it a requirement

(01:12:36):
because it's actually a safety issue. I don't know. If
I was a politician, I'd do the Winston That's how
I would handle it. I'd be like, is this completely necessary?
Can we do it outside? Because I don't want to look.
I don't want to wear a hard hat and high
vers and gum boots and roll up my sleeves and

(01:12:56):
people know it's fake. You know, That's what I wouldn't want.
Twelve after six it's.

Speaker 1 (01:13:03):
The Heather dupas Allen Drive Full Show podcast on iHeart Radio,
empowered by News.

Speaker 2 (01:13:08):
Talks EBB News TALKSB. It is quarter past six. Ryan
a very good point about the high vers carry on
with all of the politicians, and they're wearing the gun
boots when they're on the farm, even if there's no
mud underfoot. Plus they all and this is from Malcolm, Malcolm,
it's you make a great point. He said, they always
seem to be brand new, which is true. If you
look at the high vers vest and you look at

(01:13:29):
the safety goggles, they're always brand new, like they've just
been purchased for this particular press conference, in which case
the whole thing's a wasted money too. Brian Bridge, Right,
we've got to Andrew Curtain, Milford Asset Management. Andrew. Good evening, Mary,
how are you very well?

Speaker 12 (01:13:45):
Thank you.

Speaker 2 (01:13:47):
We've been watching the tech stocks, We've been watching the
AI stocks leading this market higher and higher over in
the US. What's the latest investors? You know, what companies
have you been looking at? What are investors focused on?

Speaker 27 (01:14:01):
You know, they really continued to rally pretty much each
month you see them higher. There's been over the last
a few weeks. There's been a number of key pieces
of a news couple of its result based. You had
two large companies, one called Oracle that people will be
familiar with Larry Allison sort of the key key shareholder
on that.

Speaker 28 (01:14:18):
Stop that had an incredible result where they announced three
hundred billion dollars of new contracts for AI cloud services.
That's just like ridiculously big numbers, which yeah, I think
the chef hace rallied over thirty percent on that one
day alone, put Oracle into a round about the top
ten largest companies in the US, and Larry Allison himself

(01:14:39):
owns about forty five percent of that business, so I
think very shortly went past Elon Musk as the richest
man in the world.

Speaker 27 (01:14:46):
So yeah, fantastic performance from that business.

Speaker 28 (01:14:49):
Another company called Broadcom, which which sells chips which largely
compete with Navidia, has also had a strong results and
upgraded numbers, and amongst most other pieces of news, Google
sort of getting it's kind of in its mojo going
with Gemini, which is its AI product, and that's getting
a lot of tensions.

Speaker 27 (01:15:07):
So share Place has been doing well there.

Speaker 28 (01:15:10):
And then just two days ago in the video made
an announcement that they were going to invest one hundred
billion dollars in open Ai, which is the company that
owns ch GPT, and that got the market pretty excited
and n Video shares about three or four percent.

Speaker 2 (01:15:25):
On that is the worry that you've got huge investments
some of these companies and then one will invest in
the other, the other will invest back in that one,
and it could be creating some kind of bubble. I mean,
even just the level at which the market's rising, it
does it indicate bubble territory.

Speaker 27 (01:15:45):
Yeah, there's certainly been a growing view from some investors
that were starting to look bubble like and they make
comparisons to the dot com or the Internet bubble era
that happened in the late nineties early two Thousand's one
piece that Video Investment I mentioned which she used to
correctly point out on the secularity there. It is a
little bit circular, and what they're doing is they're investing

(01:16:07):
one hundred billion dollars in open Ai, who was then
taking that one hundred billion dollars and using it to buy,
amongst other things, chips from the video. So it's kind
of like they're given the company that to buy their
own product. So a bit circular, and it causes concern.
And there was elements of that or that was happening
in various ways in the Internet bubble. And then of

(01:16:27):
course the evaluations of some of these stocks are getting
getting higher, so you're certainly seeing a growing yeah, of course,
of people getting a little bit concerned, and some people
you see some investors that are taking a little bit
of risk off some of their stocks.

Speaker 2 (01:16:40):
It's interesting because when you look at that from a
practical personal perspective, you know, I look at it and
I think, well, I can see why it's going up,
because if I look at my use of AI just
in the past six months or thet alone a year
is also going up. So I'm like, maybe they're you know,
it's justified.

Speaker 28 (01:16:59):
Yeah, that's that's certainly what all the big companies in
the world are, the Microsoft's and Google's amazons.

Speaker 27 (01:17:05):
That's what they believe, right. They think the AI use
case is there.

Speaker 28 (01:17:10):
They think it's getting the use cases are getting better
and better, and you certainly are seen that. I mean
ten GBT is so much better now than it was
two years ago when it came onto the scene. And
so they convinced that AI is the next technological jump.
Therefore they're willing to invest hundreds of billions of dollars.
So currently there's this estimated about six hundred billion per

(01:17:31):
animal has been invested into AI data centers.

Speaker 27 (01:17:34):
That number is expected to grow potentially to one one
or just over one.

Speaker 28 (01:17:39):
Trillion dollars over the next couple of years, and even
a big sit at aoball Jensen Huang, who's the CEO
of Navidia, is plotting out numbers saying there might be
three trillion dollars of annual spend on AI data centers,
which is phenomenal. You're talking about three trillion, You're talking
something like three to four percent of global GDP. So well,
you've got these companies who believe in AI and believe

(01:18:01):
in the product. When they can keep putting the money
and the profitable company's largest in the world, they can
keep fueling this kind of spending.

Speaker 2 (01:18:07):
Spring fascinating stuff. Andrew, appreciate your time tonight, Andrew Curtain
Milford Asset Management time is twenty half to six still
to come show Biz Mark Calendar from two degrees and
Gavin Gray in the UK.

Speaker 3 (01:18:17):
Everything from SMEs to the big corporates.

Speaker 1 (01:18:20):
The Business Hour with Ryan Bridge and Mass for Insurance Investments.

Speaker 3 (01:18:25):
And Kiwi Saber you're in good hands. News talks that'd be.

Speaker 2 (01:18:29):
I'll give you a bit more from that Treasury report
after the News at six thirty, because it's interesting what
they say about the structural deficit. The structural fiscal deficit
that the country has and how we might get out
of it. Basically, there are no easy options. First, just
to entertain you on a what are we Wednesday evening,
here is de Sinda Redourn on the John Stewart Show,

(01:18:49):
in being introduced as I understand I haven't heard this yet,
so we'll hear it together now.

Speaker 3 (01:18:55):
I want to be correct, great honorable Dean.

Speaker 2 (01:18:58):
Just Senda.

Speaker 29 (01:18:59):
It's a lot, it's a please, just Cinder just to Cinda.

Speaker 27 (01:19:02):
Thank you.

Speaker 2 (01:19:05):
And here is the former Prime minister on doing the
right thing.

Speaker 29 (01:19:10):
I've been around politics for so long. I always held
on to the idea what goes up must come down,
you know, and ultimately whatever political capital that you might have,
you're going to need to spend it. And you know,
the best we can hope for is that politicians spend
it on doing the right thing, even if it's something
that's hard, even if it's something that you know might

(01:19:30):
not be popular.

Speaker 2 (01:19:31):
Like screwing the country right show bears, it's sex, twenty
four News Talks, there'd be A man's been arrested for
trespassing at Travis Kelsick's home. This is his Kansas home.
He's got several man was taken into custody just after
two in the morning. Get this attempting to serve Taylor

(01:19:54):
Swift legal papers. I don't know who wants to be
given legal documents in the middle of the night. I
would have called the police too. Now you might wonder
why do they want to serve Taylor with legal documents?
This is in relation to the whole Justin Valdoni Blake
Lively lawsuit. Are you kidding me? This story just doesn't stop.

(01:20:16):
So Blake sued Justin for harassment on a movie set,
Justin sued Blake back, Blake sued for defamation. It's a mess.
Taylor is one of Blake Livey's Lively Lively's best girlfriends,
so naturally she is involved. Justin is desperately trying to
get Tata in court to spill all of the beans.
Tata doesn't want to be there. This whole court case

(01:20:36):
seems to be a clown show. Now we could get
Taylor Swift in a court appropriate pantsuit sometime in the
next week, apparently, which has got everybody very excited. I
have that whole case. How long has it been around now,
like at least a year. I still couldn't tell you
what one person has accused the other of doing, and

(01:20:59):
you know what they allegations or accusations are, and it's
my job to know. And I just it's just absolute
trite nonsense from what I can see. Twenty six minutes
after six now, very quickly, I'll get you. I'll run
you through, because we do have a bit of time here.
I'll run you through. So government debt higher today than

(01:21:19):
most statements. This is the Treasury forty year projection than
most previous statements had anticipated, partly because government responses to
things like COVID have become larger over time. And you
saw that with COVID compared to say, the earthquakes, compared
to say the GC averaging ten percent of GDP per decade,

(01:21:42):
there has not been sufficient saving between events to keep
debt steady over time. This is from the Treasury and
this is their warning. New Zealand is currently running a
significant structural fiscal deficit, which we know meaning that even
without future pressures arising from population aids, from things like
climate change or other long term stuff, adjustment is required

(01:22:05):
to bring expenditure and revenue into balance, which is what
the government's trying to do, albeit according to the mood
of the boardroom this morning, far too slowly. No doubt
it needs to happen. Two degrees and UK correspondent Gavin
Gray All ahead News Talk said.

Speaker 16 (01:22:20):
B.

Speaker 4 (01:22:35):
Coming down.

Speaker 3 (01:22:39):
If it's to do with money, it matters to you.

Speaker 1 (01:22:42):
The Business Hour with Ryan Rich and Mass for Insurance
Investors and Hueye Safer You're in good hands, News Talks.

Speaker 27 (01:22:50):
D B.

Speaker 2 (01:22:57):
Putty five away from seven. You're on News Talk, said
I'm Ryan Bridge. We'll get to our UK correspondent before
seven this evening right now. Two degrees has booked a
net loss of eighteen point two million bucks for the
twenty five financial years, significantly worse than last year's three
point one mostly down to one off costs, though and
operating earnings, mobile, broadband and energy revenues all up. Mark Calendar,

(01:23:20):
two degrees Tief executive with me tonight. Hey Mark, Hi, Ron,
Thanks having me. So I made a net loss, yes,
but fair to say you're not too worried about that.

Speaker 12 (01:23:30):
No, not at all.

Speaker 30 (01:23:31):
The businesses operating two plan if not ahead of it again,
A lot of the losses that reported were non cash related,
so it's about forty five million and non cash related
if you actually look at the net cash from operating
in our trading in But we've got very significant gains
year on.

Speaker 2 (01:23:45):
You mobile, broadband, energy revenues all up. You've managed to
do that m part by growing big clients, corporate clients,
government clients.

Speaker 4 (01:23:56):
Yeah.

Speaker 12 (01:23:56):
Absolutely, we have got growth across the board.

Speaker 30 (01:23:58):
Our total revenue up about three point nine percent, but
as you've mentioned, we've got very.

Speaker 12 (01:24:02):
Strong growth across our mobile portfolio.

Speaker 30 (01:24:05):
That is across all segments, but in particular, we are
having increased success in those larger enterprise and government accounts.
Again as our businesses continue to focus on that end
of the market.

Speaker 2 (01:24:14):
How much money you know, how much business are you
taking off your competitors.

Speaker 30 (01:24:20):
It's still pretty tough out there, Ryan, So you know
it is a very tough economic environment, and you can
see that our growth against the headwinds are in the market,
we are winning more than our fair share when it
comes to some of those ones.

Speaker 2 (01:24:31):
How much do you think it's going to pick up
in the second half.

Speaker 12 (01:24:35):
Yeah, we're always optimistic.

Speaker 30 (01:24:36):
I was actually hoping to see some green shoots this
side of Christmas, but you know, we're hopeful that we'll
start seeing some good stuff happened early next year. Again,
we're incredibly well positioned, and I think remaining positives are
really critical at this point.

Speaker 2 (01:24:48):
Is your short term strategy then to go after to
try and increase that market share even though the tide
isn't lifting all boats, or are you waiting for that
tide now that you've abe maxed out your markets here
you think you can get in the short term.

Speaker 30 (01:25:04):
No, we absolutely plan to grow more in the next
three years than we have in the previous three years.
We've set a company ambition to be the number one
player by value, innovation and growth. So for us as
a challenge of brand standing for value and fairness in
the market, we see more upside in the coming period.
So it's what will be chasing, It's what our customers
expect from us, and that's what it's about being a challenging.

Speaker 2 (01:25:25):
Some suggestion in the I don't know if you saw
Chris Keell's peace in the Herald today that the way
you've got these contracts might be because you are undercutting
on price.

Speaker 30 (01:25:36):
Again, I hear that a little bit, you know, I
think charging customers fear prices is a pretty good criticism
to have We're absolutely out there just delivering value outside
of price. We have amazing technology and software platforms for us.
It's how we put productivity tools into our customers hands
and we do that at for your prices. So it's
a pretty good combination.

Speaker 2 (01:25:56):
Hey, I know we've spoken about this before, but the
energy arm of your business and that the Gen Taylor's situation.
Have you had any indication what's going to go with
We've got this report coming out. We're expecting some response
inside the next what five six days from the government.

Speaker 12 (01:26:12):
So now I'm waiting with baited breath like everyone else,
I remain fear of a hopeful.

Speaker 30 (01:26:18):
The sort of messaging we're hearing is that bold changes
required and bold changes coming. So we're really look forward
to seeing what shape that comes in. And again we're
focused on making sure we've got the right incentives of
Generation and we have a competitive platform which lives lower
pricing to consumers. You would have seen the mood of
the boardroom again that came out today and energy prices

(01:26:39):
was top of mind for many CEOs out.

Speaker 12 (01:26:41):
There at the moment, So it is real.

Speaker 30 (01:26:43):
We need to address it, and we've got to worry
about the best settings for a twenty thirty forty year timeframe.

Speaker 2 (01:26:47):
One of this question often comes up with two degrees, Mark,
why aren't you listed on the stock exchange. You've obviously
got private owners. Is that something that is being looked at,
or that might be looked at, or that has been
I know it's been considered in the past, but is
it currently on the table.

Speaker 12 (01:27:05):
No, not at all.

Speaker 30 (01:27:06):
Again, we've just had a new three year strategy reset done.
As I've mentioned, we have a growth mandate. We've got
very very supportive shareholders. You know, our job's not done
on this market. We've still got to keep fighting. We
still think we can deliver better value to consumers, and
we've got to keep growing this business. And I think
today's results were a really good foundation for what lies ahead.
But you know, we are just at the beginning of

(01:27:27):
really turning around this business.

Speaker 2 (01:27:29):
Mark appreciate your time. Thanks for coming on the show.
Mark Calender, Chief Executive. Two degrees time is twenty one
minutes away from seven. You're on news Talk SEDB.

Speaker 3 (01:27:37):
Crunching the numbers and getting the results.

Speaker 1 (01:27:39):
It's Ryan Bridge with the Business Hour and Mass for Insurance.

Speaker 3 (01:27:44):
Investments and Killie Saber. You're in good hands News Talks, EDB.

Speaker 2 (01:27:48):
It's gone eighteen away from seven on news talks, HEEDB.
If you didn't catch up with all of what Donald
Trump said at the UN today, there are some gems
in there which I'll play for you now. The renewable energy.
We did the climate change earlier, but this is what
you had to say about renewable energy, the sources of
renewable energy. How reliable renewable energy is.

Speaker 7 (01:28:08):
We're getting rid of the falsely named renewables, by the way,
they're a joke.

Speaker 2 (01:28:14):
Then he took the unto task over migration.

Speaker 7 (01:28:16):
Not only is the U and not solving the problems
it should, too often, it's actually creating new problems for.

Speaker 2 (01:28:23):
Us to solve.

Speaker 7 (01:28:24):
The best example is the number one political issue of
our time, the crisis of uncontrolled migration. It's uncontrolled. Your
countries are being ruined.

Speaker 2 (01:28:34):
See, we don't really have the uncontrolled migration problems here,
do we, Thanks to the ocean that they've got in Europe,
that they've got the problems that they've identified in America.
So we don't as a country really kind of understand it.
It's a bit like war. We're a long way from
war and We're a long way from a land border.
So when people talk about those issues overseas, it's like, look,

(01:28:57):
I'm glad we don't have to deal with those things,
but actually do we really understand them until we go
and visit these places and once you get there you
kind of realize. Anyway. The big problem, of course, was
the technology.

Speaker 7 (01:29:08):
And I don't mind making the speech without a teleprapter
because the teleprampter is that working. All I got from
the United Nations was an escalator that on the way
up stopped right in the middle. If the first lady
wasn't in great shape, she would have fallen.

Speaker 2 (01:29:24):
Poor thing. She is in great shape.

Speaker 3 (01:29:26):
They made it.

Speaker 2 (01:29:27):
The safely speech took an hour. It's sixteen away from seven.
Bryan Bridge, right, Kevin Gray, are UK your correspondent. Let's
go check in now on what's going on. Gavin Good
Evening either right now. This asylum seeker whose crimes led
to the big protests, we have a sentence, we.

Speaker 19 (01:29:47):
Do, indeed, yes, So he's believed to be thirty eight
from Egypt. Hadish Kabatu had only just arrived in the
UK illegally and was being processed as it were, staying
in a hotel in Essex, and he's now been found
guilty of touching and trying to kiss a school girl
lays just fourteen, wearing a school uniform in a park.

(01:30:08):
He's been jailed for a year for the sexual assault
on the fourteen year old girl, laying his hand on
her thigh, saying she'd make a good wife, would come
back to Africa with him, and saying that she would
also make good babies with him.

Speaker 27 (01:30:23):
He also then.

Speaker 19 (01:30:25):
Tried to touch on the thigh as well a woman
who had gone to see if he needed anything because
he was looking distress, and he tried the same tactic
with her. And he's now been sentenced to this year
in jail. He said, apparently he wishes to be deported
well so does frankly most of the rest of the country,
I would suggest, because his arrest which upset the girl

(01:30:47):
said she's constantly looking over her shoulder. Now obviously she
told the parents. The parents were spread on social media
and there were protests outside the hotel where he was staying,
and there was a wave of not just protests outside
this hotel in Epping in Sex, to the east of London,
but also around the UK where single male asylum seekers
who have arrived on the boat illegally with no idea,

(01:31:08):
We have no idea who they are. Are feared by
local residents. It is, as you can hear in every
sort of headline in the UK, one of the big
election topics I would suggest come any elections coming up
over the coming months and years.

Speaker 2 (01:31:26):
Hey, President Trump, But among the other things and claims,
he made it that you win, he's also seed that
the London city of London wants to go to sharia law.
Any response from the meien No.

Speaker 19 (01:31:39):
And it's rather interesting. He and the London mayor, Sir
Sadiq Kahan, have had quite a row over the years
on various social media platforms, and this time the mayor
is refusing to comments. So Donald Trump's quote was, I
look at London, where you have a terrible mayor, terrible,
terrible mayor, and it's been changed. It's been so changed.

(01:32:02):
Now they want to go to sharia law. But you're
in a different country. You can't do that. Well, Sir
Sadiq spokesperson said, we're not going to dignify his appalling
and bigoted comments with a response. London is the greatest
city in the world. Safer than major US cities, and
we're delighted to welcome the record number of American citizens
moving here. So it is a kind of response without

(01:32:24):
a direct response about Sharia law. Incidentally, there are actually
Sharia courts. Those are courts for Muslim people in the UK,
but they have no legal jurisdiction. The real courts, of course,
are the normal British courts, but people are uncomfortable that
these Sharia courts exist in the first place. Anyway.

Speaker 2 (01:32:42):
Are the Sharia courts funded by the government or are
they just like a religious self funded thing.

Speaker 19 (01:32:48):
It's pretty much self funded. It's thought there are eighty
five in total.

Speaker 27 (01:32:52):
According to one Thing Tang.

Speaker 19 (01:32:53):
Most of the work dealt with is religious marriage arbitration,
but they may also rule on legs financial matters, but
the UK government very clear the rulings are not legally binding.
So it's a very sort of interesting and some would
say worrying aspect of our laws.

Speaker 2 (01:33:11):
Absolutely. Now you've got nineteen UK grocery stores closing.

Speaker 19 (01:33:15):
What's going on well the Amazon they're owned by Amazon.
Amazon opened these stores as a sort of experiment, but
it's not gone very well. So they opened in March
twenty twenty one and they're going to shut down nineteen
UK grocery stores less than five years therefore after they
were launched. They are till free sites. In other words,

(01:33:37):
as you go round, you effectively scam what you bought
and that automatically deducts it from your credit card. So
the company says it's going to focus on online deliveries
in the grocery sector with partners a couple of major
supermarkets in those and it said it's launched a consultation
process on its closure proposals. It began its first closure

(01:33:58):
of the site a couple of years back. It shut
down three they're called Amazon Fresh stores, and then it
opened its first UK grocery stores I mentioned a couple
of years earlier, but now they are all on the
on the off list as well. It's a very tough
market to break into the food market here and the
sales of it and the existing four or five supermarket

(01:34:19):
giants have a real stronghold, which even the independence I
think struggle again sometimes.

Speaker 2 (01:34:25):
Sounds like something we know a little bit about here too. Gevin,
thank you for that. Devin Gray, a UK correspondent time
leaven Away from seven To those who are interested in
south Winded Upper I am because it's a beautiful part
of New Zealand, but also because I traveled there a
little bit. They the decision about Cape Palliser and this
is the south Winded Up a district council Kate Palliser,

(01:34:45):
beautiful area. Lots of people go mountain biking, lots of
people go fishing, lots of people. There's a recreational use
for the area and they were looking at closing the
paper road. They proposed a ban and there was huge
pushback as you can mentioned, from fishes, from all sorts
of different people. Anyway, they have decided they have ruled.

(01:35:05):
The vehicle ban gets the nod. There was burnouts, there
was sort of destruction of land, all this kind of
stuff going on. The council has voted today to go
ahead with the ban. Pedestrians, cyclists, They will obviously be
able to get around it. This is just for cars vehicles.
For wel drives ten to seven, it's.

Speaker 1 (01:35:26):
The heather too for see Alan Drive Full show podcast
on iHeartRadio powered by Newstalk ZIBB.

Speaker 2 (01:35:33):
Eight to seven News Talk zibby. Jimmy Kimmel's back and he's.

Speaker 5 (01:35:36):
Crying it's important to me as a human and that
is you understand that it was never my intention to
make light of the murder of a young man.

Speaker 2 (01:35:47):
Very sad, is it or is it performing?

Speaker 3 (01:35:49):
You know?

Speaker 2 (01:35:50):
Is that crocodile tears? And you be the judge. The
thing is, he's back a lot of the stations because
it's very different over in the US. It's not like
here where you just have one network that would carry
your show. You've got a whole bunch of different local
stations that have decided they're not going to take Jimmy
Kimmel's show anymore, Thanks very much. Even though he's apologized,
even though he's done the twenty eight minute monologue in

(01:36:11):
which he basically makes tries to make amends for everything
that he said. Personally, my view is that what he
said was not very It was distasteful given the timing.
But you can't cancel everybody just because they have an
opinion that's regressive. Seven away from seven and you're on

(01:36:32):
news Talk said, be very quickly a little update on population.
It's another little tidbit from Treasury's long term fiscal statement.
This looks ahead for forty years. What's going to happen
with the government expenditure, et cetera. What's going to happen
with stuff like migration. Well, net migration has been much
higher than projected. This means population has aged more slowly
because you have migrants coming in who are younger, and

(01:36:55):
that adds to the working age population. They are paying
tax that take the sting out of some of that
expensive health and superannuation costs that you pay for an
aging population. So, based on the calculations they did last
time Treasury forecast, it's actually migration was higher than expected,

(01:37:15):
which means those costs were less than expected, which is
actually a good thing. Still doesn't get us out of
the mess that we're going to be in in forty
years time when they reckon government debt will be two
hundred percent of GDP News Talk CEB, great show today, everybody.
Thank you very much, Libby. What are we going out
to tonight?

Speaker 31 (01:37:34):
We're going out to Rita. Aura's a brand new song
called All Natural and it's come out with a very
sultory music video to go with it, which is directed
by her her husband.

Speaker 11 (01:37:47):
Take away tity.

Speaker 2 (01:37:49):
Funny thing about Rita url I heard the other day
is these two ends of this street in pointshev in Auckland,
which is a suburb which has got very wealthy homes
and then has some not so wealthy homes. And apparently
locals say because she obviously and Tiger have bought a
house that people say, are you at the rita or
end or the kying or end? An'm quite entertaining anyway,

(01:38:14):
I think her house is worth ten million bucks five
to seven. You just talk seip b see tomorrow the.

Speaker 21 (01:38:19):
On montals and a club tonightom right now going to
left the left room, hep twere and Si so.

Speaker 3 (01:38:40):
Fresh air in the ocean field half.

Speaker 21 (01:38:43):
We spend a few after in the mallible.

Speaker 6 (01:38:53):
Is there one make you?

Speaker 7 (01:39:02):
I know you're like that.

Speaker 2 (01:39:06):
I don't need turn in there to mesm you bean.

Speaker 21 (01:39:11):
We talk and make me bury this party like.

Speaker 3 (01:39:15):
Honey, sit back and watch the more we start getting
a car. It's so mutual, it's so much.

Speaker 21 (01:39:24):
You A wht you hongcome stepson, come between me.

Speaker 3 (01:39:31):
I'm the superstar Mom.

Speaker 21 (01:39:35):
Yes, I'm looking at Hunco and Bac pass hold on, Tidy,
Are you ready for the play?

Speaker 8 (01:39:42):
Are you creaking?

Speaker 3 (01:39:43):
Bar? You can feel like you.

Speaker 21 (01:39:48):
Comes to like you being so we talk can make
me bury this Curdy like Harney, Sit back and watch
the mom and my start.

Speaker 17 (01:39:58):
Getting a car.

Speaker 7 (01:40:00):
You talk.

Speaker 3 (01:40:13):
Like Honey back to watch.

Speaker 6 (01:40:19):
So much.

Speaker 11 (01:40:21):
So.

Speaker 1 (01:40:28):
For more from Hither duplessy Alan Drive, listen live to
news talks It'd be from four pm weekdays, or follow
the podcast on iHeartRadio

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