October 16, 2024 • 33 mins
On the Early Edition with Ryan Bridge Full Show Podcast for Thursday 17th of October, ACC has recorded a $7.2 billion dollar deficit just a year after a $911 million surplus. How has it become this bad, and what does it mean for the levies we all pay? ACC Minister Matt Doocey discusses.
Wellington Mayor Tory Whanau is set to meet with the local government Minister today following the threat of government intervention. Councillor Ray Chung speaks to Ryan about the situation.
Inflation is back within the target range of 1-3%, what does it mean for the November OCR decision? ASB Chief Economist Nick Tuffley joins the show.
Get the Early Edition with Ryan Bridge Full Show Podcast every weekday on iHeartRadio, or wherever you get your podcasts.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
The issues, the interviews and the inside. Ryan Bridge new
for twenty twenty four on an early edition with Smith City,
New Zealand's furniture vans and a play at store.
Speaker 2 (00:14):
US Talks B.
Speaker 3 (00:16):
Good morning, it is six after five news Talk, SAIDB
on Ryan Bridge, coming to you live from our crazy
little capital, Wellington this morning.
Speaker 2 (00:24):
Acc and the red seven point two billion dollars?
Speaker 3 (00:28):
Are they going to cut your subsidized physio visits?
Speaker 2 (00:31):
Will ask the Minister Matt Doosey just before six.
Speaker 3 (00:34):
Inflation under control, so why do we still feel so poor?
Nick Tuffley on that Wellington, the chamazzle city, the councilor
who wants an early election, plus the link between house
prices and babies, plus Mitch McCann in the US All
ahead on this morning show.
Speaker 1 (00:52):
The agenda.
Speaker 3 (00:55):
It is Thursday, the seventeenth of October. An explosion has
killed ninety four people in Nigeria. It's understood a tanker
driver lost control and crashed, causing fuel to leak onto
the road, then quickly igniting people.
Speaker 4 (01:07):
Locals and villagers came to scoop to fuel that's spilled
out on the streets on the gotteras and that sparked
a very quick conferno which I witness it to say
was very massive.
Speaker 2 (01:20):
Under many people could notice scape it. At least fifty
injured as well.
Speaker 3 (01:23):
A seven year old has died and six others have
been injured after an explosion destroyed three houses.
Speaker 2 (01:29):
This is a newcastle in the UK.
Speaker 5 (01:31):
The boys loved ones are being supported by specialist officers.
Speaker 3 (01:34):
An investigation is ongoing to establish how the explosion occurred.
It's ready, They've got a plan and it's only a
matter of time now before Israel executes it. According to CNN,
retaliation against Iran will target military sites only, not oil
or nuclear facilities. Trump to the United States, We go now.
(01:55):
Trump's calling back in the Poles. So Carmel is changing
up his strategy. Forget the machhallow barma, they go low,
we go high. Speech Harris has labeled Trump erratic, unstable,
unhinged and now a fascist.
Speaker 6 (02:08):
And the other Donald Trump is about taking us backward.
Speaker 2 (02:12):
Oh there's muf fascism. Why can we just see it? Yes,
we can say that.
Speaker 1 (02:19):
Ryan Bridge new for twenty twenty four on early edition
with Smith City, New Zealand's furniture beds and a playing store.
Speaker 2 (02:26):
News talk Zidby and we'll.
Speaker 3 (02:28):
Ask Mitch mcckenn about that later on in the show too.
This morning, though, should we be worried about this?
Speaker 2 (02:33):
That'll do for any old Scritannia's day or so had
fucking it and it's four two? You heard us? They're
backing it.
Speaker 3 (02:45):
Yeah all right, so they've come back. They're doing a
little bit better. Adam Cooper's with us, said, be sport
here in Wellington. Hey Adam, Hey Ron welcome, Yeah, thank you.
Should we be worried about this? Or was this just
a little blip?
Speaker 7 (02:54):
Well, I don't think so. I think it was two
mistakes from Team New Zealand. This happens in sailing. You know,
it's such a delicate kit situation when these these two
syndicates are getting the best of the wind, lighting up
at the start line. I guess we saw Team New
Zealand make their first mistake of this whole final. They
got off the foils and sort of found themselves on
the water. Obviously these boats go the fastest and ultimately
(03:15):
you know, are above the water sort of on the foils.
And then Team New Zealand somehow made a bit of
a mistake got off the foils and that sort of
effected them from the start. They couldn't really get back
into that that first race, and then another mistake sort
of towards the start of the second race as well.
So I think, rather than being concerning, it is actually
more exciting.
Speaker 3 (03:31):
Well yeah, well that's the first time I've paid attention. Yeah, now,
were up four and il.
Speaker 7 (03:35):
And we thought, come on, this is we don't want
this to be a full gone conclusion. We want this
to carry on for a few more days and and
for it to be tight.
Speaker 2 (03:42):
So four to two.
Speaker 7 (03:43):
I think Team New Zealand we know that their boat
is world class the way it's been built, what it does,
so I think, you know, and.
Speaker 3 (03:51):
It's first to seven, isn't it? And next race is
Saturday morning, yes, so we won't have an out And.
Speaker 2 (03:56):
Then after that is it Sunday? Did they race?
Speaker 8 (03:58):
Yeah?
Speaker 2 (03:58):
They they'll continue through over the weekend.
Speaker 7 (03:59):
I mean, everyone will keep in the back of their
minds that San Francisco America's cut when he's eeling more
up at eight. You know, they had eight in the
first to nine and then they got beaten.
Speaker 2 (04:09):
They're about up about eight one, and Oracle at the
time came back and beat them nine to eight.
Speaker 7 (04:14):
So I think everyone's a little bit fearful of that,
but I think at the moment we're still pretty confident.
Speaker 3 (04:18):
I'd say, Adam, thank you very much, Adam cooper' zi'by
sport with me here in Wellington this morning. It has
just gone ten minutes after five on News Talk.
Speaker 2 (04:25):
Z'B Brian Bridge. Now, this was not my song choice.
Speaker 3 (04:32):
This is Donald Trump's song choice in case you have
missed it, and I implore you to please go and
just google this. Donald Trump at a rally in Pennsylvania yesterday,
just to hell with it. I'm not going to keep
speaking and answering questions. I think some people in the
audience became unwell. And he started a disco which lasted
(04:53):
forty minutes, and he does that dance where he moves
his hands and it looks a little bit odd anyway,
for forty minutes, and people loved it.
Speaker 2 (05:01):
People enjoyed it. This is the thing about campaigning.
Speaker 3 (05:04):
Your candidates are often often exhausted, tired, and are prone
to just do weird stuff. It happens all the time.
And this was a weird thing. And it's forty minutes
of weird stuff. Hey, lots to come on the program
this morning and I want to fill you in on
an Air India flight. Basically a bomb thread against an
Air India flight, third time in two days. This time
(05:29):
the Singaporean Air Forces had to help help them land.
So we'll tell you, put you on on what that story,
what it's all about in just a sec News Talk said,
be on your Thursday morning eleven after five.
Speaker 1 (05:45):
Time the first word on the News of the Day
Early edition with Ryan Bridge and Smith City, New Zealand's
Furniture Beds and a Planet Store News Talk.
Speaker 3 (05:59):
ZIB fourteen after five News Talks ZB. So all you
need to do to bring down an airline, to bring
down a jet is basically seen an email and you
can disrupt global air travel. What an impossible situation for
airlines to try and handle anyway, So this is what happened. Basically,
somebody has or someone or some group is targeting Air
(06:22):
India flights. They have had three hoaxes in the last
two days. The latest one a two Singaporean Air Force
fighter jets had to scramble and escort an Air India
flight away from populated areas after the airline received an
email that there was a bomb on board the plane.
Speaker 2 (06:41):
It was a hoax.
Speaker 3 (06:43):
Nothing true about it. It's not funny, it's quite serious.
But how do you manage this when it's happened three
times now in the last two days. Nothing was found
once they landed. There was a plane going to Chicago
landed in Canada. One going to Mumbai to New York
City had to be verted to dally. How do you
handle that and who is behind it? I guess they
(07:05):
will get to the bottom of that. The former quite
hard to manage, I would imagine. Quarter past five, Ryan Bridge,
speaking of hard to manage. Wellington City Council and Wellington's
Meor Torri Farno will meet with Local Government Minister Simeon
Brown this morning at eight point thirty in a bid
to stop the government from intervening in our capital's council.
Yesterday they held an emergency meeting to try and fix
(07:26):
the long term plan, which relied on selling some of
the council's airport shares, which they voted not to do.
Ray Chung is the Wonnington City Councilor. He's with me
in the capital this morning. Ray, good morning, bear with me.
Speaker 2 (07:40):
There we go. Ray, are you with me.
Speaker 3 (07:42):
Yep, I've got you just fine, tell me what happens.
So you guys had this brief meeting yesterday for about
an hour. What is the mayor actually got to tell
Simeon Brown this morning?
Speaker 2 (07:56):
Do you know?
Speaker 9 (07:57):
Well, I think she's going that we've we've set the direction,
We've got general agreement from the council. Uh, you know,
through our meeting yesterday, we we appreciate that we've got
to make those savings. We've got to make those cuts.
The one of the problems though, is that we don't
know exactly how much we we actually have to take out.
(08:18):
We didn't get those numbers, and then so there's there's
you know, just a few different numbers and so but
once we get there, you know, we can look at
which bits that we actually need to take out. But yeah,
so I think that's a message he's taking.
Speaker 3 (08:32):
So at the moment, you haven't actually agreed on anything.
You've just agreed to basically be a bit more agreeable.
Speaker 2 (08:38):
Yeah.
Speaker 9 (08:39):
Yeah, which just seemed to me to be a bit
a bit light because then and I would have thought
that we would walk on through and see it. Okay, Uh,
what are you willing to take out and what are
you're not willing to take out? And then so the
things that we all agree on, we can we can
put those down in the top row. And then the
(08:59):
things that we got agree on, we can say, okay,
we'll leave us a discussion and we'll look at how
much we actually need to cut before we can actually
do those. But but because we didn't have that information,
we we you know, we didn't do that.
Speaker 2 (09:13):
So you do you still want do you still want
an early election?
Speaker 3 (09:17):
And did you hear back from sim In Brown's office
with your request for one?
Speaker 9 (09:21):
No?
Speaker 3 (09:22):
No, no?
Speaker 9 (09:22):
What I said that my preference would be for an
early election rather than the commissioner, because I'm just not
sure what a commissioner would do. And I looked at
the tower on the situation, and I think that the
situation we've got is different from from tower on it.
And I also talked to people up there and they
(09:42):
said that, well, some are happy and some and not.
So it's not having a commissioner and isn't the answer
to everything.
Speaker 2 (09:48):
I don't believe. Do you want to be may or? Ray?
I am going to have a.
Speaker 9 (09:55):
Go at it, yep, to certainly have to go with it.
Speaker 3 (09:58):
That's why you're won an early election, right, get in there,
toy is gone raise the mayor.
Speaker 9 (10:05):
No, not really. I'm usually not enjoying council and certainly
very very different from working my previous job, So I
don't think I've got a natural fit for it. But well,
I do think that something needs to happened. I run
constituent reading really monthly, and I'm getting feedback from everyone
(10:29):
I talked to about how on happy they are with
the way the city's going.
Speaker 3 (10:33):
Yeah and yeah, and I mean you heard it that
event last night in Wellington celebrating business leaders in Wellington,
which is a fantastic event, But you did hear that
it just needs to be done.
Speaker 2 (10:43):
Something needs to be done. It needs to be sorted.
Speaker 3 (10:45):
Rayshang with us, potentially future mayor of Wellington, Wellington City councilor.
It is nineteen after five News Talk set b.
Speaker 2 (10:54):
Get ahead of the headlines.
Speaker 1 (10:56):
Ryan Bridge you for twenty twenty four on early edition
Smith City, New Zealand's fourniture beds and a playing store.
Speaker 2 (11:03):
News Talk z'd be good morning.
Speaker 3 (11:05):
Twenty one minutes after five on News Talk said be
how big will Adrian or go on rate cuts next month?
Speaker 2 (11:10):
That is the question on everybody's lips.
Speaker 3 (11:12):
He's away on business at the IMF currently, apparently, But
after yesterday's lowest annual inflation figure in three and a
half years, back in the safe zone at two point
two percent, could we see a seventy five basis point
cut by Christmas? Gosh, we're all excited, aren't we. Nick touughley'
is the asbchief economist. He's with us this morning.
Speaker 2 (11:31):
Hey, Nick, morning, Hey, So I mean this, first of.
Speaker 3 (11:34):
All, this is great news, isn't it that we're back
in a safe zone?
Speaker 2 (11:37):
But how how safe are we? How precurious is that.
Speaker 8 (11:42):
We do think that inflation will be remaining very close
to two percent now over the next couple of years.
So if anything needs a chance that inflation could each
of it below two percent at some point as we're
heading towards the end of twenty twenty five twenty twenty six. Look,
we're really back in the zone now.
Speaker 3 (12:00):
And it would take something quite dramatic to get us out,
because I mean, you look at the insurance, the rents,
the rates that will expected to keep going up, right,
But the international story is a different one. What about
if oil spiked because of the Middle East or something
like that.
Speaker 8 (12:17):
Well, we still have that mixture where some of that
domestic inflation is still pretty high, and that will need
a little bit going forward, and that will help keep
things down. We have had things like oil prices pulling
back at times over the last quarter, which helped keep
inflation low at the moment. But yes, there's always the Wattes.
It will take a pretty significant spike in the price
(12:38):
of oil to push things up, and the Reserve Bank
won't necessarily rush to turn around and start putting rates
up or slow the pace down because oil prices are
something that can't control. They tend to have a short
term impact. But the Reserve Bank would worry about so
sizeable and lifting oil prices, whether there are some lingering
impacts created by just the impacts of it has on
(13:00):
transport and wider costs.
Speaker 3 (13:02):
All right, I'll stop worrying about the oil thing now
and then Nick, thank you. Well, what's up with the
domestic air travel? The price is down by eleven percent?
I was reading that going really eleven percent?
Speaker 8 (13:14):
Well, you do find that air travels it's quite seasonal,
so it does go up and down from one quarter
to the next. As we move in and out of
the sort of tourism season. We did see quite a
spike in sort of airfare prices in that sort of
immediate post COVID period, but we have now started to
(13:35):
see some settling down in that area and you can
see that in accommodation costs as well, where the trend
has been that things have started to ease back after
that initial nudge that we saw.
Speaker 3 (13:46):
Nick, Thanks very much for you update this morning. Really
appreciate it. Nick Tuffley, chief economist at ASB Bank. We're
in the zone and it sounds like we're going to
stay there for the full seable, which is great news.
Speaker 2 (13:56):
Just gone twenty four after five News Talks. That'd be the.
Speaker 1 (13:59):
Earlier this year full show podcast on iHeartRadio. How it
by News Talks.
Speaker 3 (14:03):
It me it is twenty six alf to five year
on News Talks. It be a timely reminder, an important
one too for me. Last night, I'm in Wellington, as
I mentioned earlier, flew into the shammozzel storm yesterday for
an event last night. It's easily one of the most
beautiful cities in New Zealand, is it not?
Speaker 2 (14:20):
Can we all agree on that?
Speaker 3 (14:22):
With the Hills jutting out of the harbor, all of
the bush surrounding it. It is stunning and the weather
was good, so that helped. It was absolutely beautiful flying
in and then you land and there's the road cones
and there's the uber driver not happy, and the Mayor's
and meltdown, and the government's taking over and the council
is all over the place, shambles, shamozl all that stuff.
But then this event last night featured and honored a
(14:45):
couple of Wellington business people, among them Brian McGuinness, whose
family have either built or refurbished basically half of Wellington,
including Government House by the way, which I found fascinating
being in business for decades, you know, more than fifty years.
Speaker 2 (15:00):
Doug Hodak was a name you will know. He was
on there as well, great Wellingtonian. Many were honored there.
Speaker 3 (15:07):
But the speech has particularly got me last night, got
me right in the guts. Actually, these are guys who
have seen it all, Wellington at its best, Wellington at
its absolute worst, but when it's the crown on the jewel,
when it's the butt of our jokes. And their message
essentially was politics is temporary, like any city.
Speaker 2 (15:29):
The real pulse.
Speaker 3 (15:30):
The real engine room is private enterprise, always has been,
always will be. And there was a tech guru, John
Daniel Trask who spoke last night. He said we shouldn't
always look to the council, to the government to fix
our problems or to make things better, because for the
most part we can actually do it on our own.
(15:53):
We can solve problems on our own. Sure, there are
some issues that only government can and counsel can look
after that only government and council have.
Speaker 2 (16:01):
A purview over.
Speaker 3 (16:03):
But for most things we can actually do it ourselves.
And so that is true of Wellington. Wellington is no exception.
Wellington will come back and probably doesn't help that people
like me sit in front of microphones in Auckland and bleat.
Speaker 2 (16:19):
About the place.
Speaker 3 (16:21):
But you know, it's fun from a distance, quite different
up close. Twenty eight after five Crying Bridge. Matt Doocey's
on the show. He's the acc Minister. Because the deficits
just hit seven point two billion dollars for the year.
We will ask him what does that mean for your levies?
Does that mean they'll cut back on some of your
physio services? You have taxis to work. Apparently it's taking
(16:45):
us longer to recover from injuries? Does that sound suspicious
to you? I mean, with all the medical advancements, with
all of the physio treatments we have now, why is
it taking us longer to recover from in Is someone
taking the piss? Twenty nine after five News Talks by.
Speaker 1 (17:25):
On your radio and online on iHeartRadio Early edition with
Ryan Bridge and Smith City, New Zealand's Furniture Beds and
a Playing Store. News Talks A B.
Speaker 3 (17:47):
Good morning, twenty four away from six News Talks B.
It's going to be a great day. Welcome to your Thursday.
Mitch McCann is stateside for us. The political race now
in a dead heat. And what is Karmala Harris going
to do? Where she's going on the attack is what
she's doing. Mitch McCann with us a little later, Matt Doocy,
the ACC Minister, A lot of concern from you this
morning about the books. Our ACC books a seven point
(18:11):
two billion dollar deficit. We'll ask the minister about that.
Speaker 1 (18:15):
Ryan.
Speaker 3 (18:16):
Something doesn't add up, says David, with the losses incurred
by ACC going from a billion dollar profit to a
seven billion dollar loss in one year, and they're making
it sound like it's all client costs. However, it would
be interesting to know if they have lost money through
bad investments, they actually made money on their investments, David.
But I will ask Matt Doocy about that. What it
(18:36):
says here is the largely driven by an eight point
seven billion dollar increase in the outstanding claims liability, which
is basically how much they expect injuries that have already
happened to cost them into the future. That has increased substantially.
So I'm assuming that is inflation related.
Speaker 2 (18:56):
I don't know.
Speaker 3 (18:57):
We'll ask Matt Doocy about that when he's on the show.
Just before six it is twenty three away.
Speaker 2 (19:02):
Ran the Bridge.
Speaker 3 (19:03):
We're going to our reporters around the country, starting in
Dunedin with Callen Proctor.
Speaker 2 (19:06):
Cullen, Good morning.
Speaker 3 (19:08):
Morning, Ryan, fresh push from Dunedin about the health system there.
Speaker 10 (19:14):
Yes, the mayor and the and councilors here have unveiled
officially unveiled this ambulance, this protest ambulance, Ryan, and its
name is Cliff as in the ambulance at the bottom
of and that's what they want to avoid here with
our health system and this hospital process campaign. It's being
(19:35):
used to help spread the campaign's new slogan around the
South and potentially up to Wellington. This ambulance the new
slogan Save our Southern Hospital. The councilor has also purchased
digital billboards in Wellington, they say, at a heavily discounted price,
with the save our Southern Hospital message clearly aimed at
the politicians.
Speaker 2 (19:53):
There.
Speaker 10 (19:53):
There's campaign badges, a website and Instagram page being launched
as well. The mayor says, look that the such a
simple They want the hospital that was promised one fit
for purpose now and for decades to come.
Speaker 2 (20:05):
All right, how's your weather today? Come fine? And sixteen today? Brilliant?
Thank you.
Speaker 3 (20:10):
Claire Schubert is in christ Church with well almost the
opposite story there, Claire, Yeah.
Speaker 11 (20:15):
Well we're celebrating up here that we've got some more
surgical theater space coming to christ Church.
Speaker 3 (20:21):
Now.
Speaker 11 (20:21):
Of course, normally I'm talking about how bad our health
system in christ Church is, but at the moment this
is good news. There is an increase to the capacity,
with eighteen hundred surgeries to be on offer annually come
January next year. This is because of an expansion to
Forte Health Hospital. That is, of course a private hospital here,
but it's used by the public system too. The chief executive,
(20:43):
Michael Woodhouse, says this has been running at capacity for
the last five years. Construction of the fifth operating theatre
is going to increase the space by twenty five percent.
He says, as I just mentioned that opening. It will
also increase use for the public health system to access
the theater capacity when needed.
Speaker 2 (21:00):
Very good. How's your weather today?
Speaker 11 (21:01):
Clad will clear to find this morning northeast of east
developing and be fresh for a time this afternoon a high.
Speaker 6 (21:07):
Of fourteen brilliant.
Speaker 2 (21:08):
Thank you.
Speaker 3 (21:09):
Max Hoole is with me in Wellington this morning. Max,
good morning, what a pleasure do you know? You look
a lot happier than you sound. Comes in with a
big beaming smile.
Speaker 12 (21:19):
Take that as a compliment.
Speaker 2 (21:20):
Hey, what's happening with the council.
Speaker 3 (21:22):
We've got this meeting at eight thirty with Simmon Brown
and the mere right yeaheah.
Speaker 12 (21:26):
Let's start with yesterday a bit of a media circus
at the City Council. Our reporter was there, other reporters
that were their councilors. The councilors all sidled out one
by one. They got their five minutes. Let's start with
the mayor. She's resolute. She says the meeting was productive.
Nothing to see here, even though nothing's actually been determined yet.
Called this urgent meeting, of course, to discuss this financial
hole in the budget worth up to six hundred million dollars,
(21:48):
she's insisting they're getting on with it. The thing is,
we're about a year out from local body elections, and
I can tell you quite a few people in that
room yesterday are weighing up running for mayor. Right now,
let's start with Ray Chung. He's confirmed, the only one
who is confirmed actually is running for mayor. He says,
Hid do virtually everything different to Tori Fano, And yet
the majority obviously against crown intervention. As you say, Fanos
(22:10):
meeting the Simeon Brown, the local government minister today are
united fronts. Not really intervention still possible, perhaps even likely.
I think the council is going to remain a circus
for some time.
Speaker 3 (22:21):
Yeah, I think you're right. But I said to we
head Rychang on this morning, I said, what did you
actually decide yesterday? I mean, they didn't decide anything, just
to be a bit more agreeable with each other into
the future.
Speaker 12 (22:32):
Well yeah, almost like advice behind the scenes. Can we
please you know, present at least this United Front.
Speaker 3 (22:38):
Yeah, all right, thank you Max. Great to see you, Max.
Hole in Wellington. How we're the today?
Speaker 12 (22:42):
I should say it should be mostly fine once it
starts to warm up, getting up to sixteen in the city.
Speaker 2 (22:47):
Brilliant. Thank you navers in Auckland this morning, every good morning.
Speaker 6 (22:50):
Good morning.
Speaker 13 (22:50):
I am sitting in your seat today because obviously you're
in Wellington and this seat is amazing.
Speaker 3 (22:57):
It is quite comfortable, isn't it very No, you probably
shouldn't call it my seat because you know who will
get upset by that.
Speaker 2 (23:05):
The the hosk will get upset.
Speaker 13 (23:08):
I'm going to wheel it out before he starts at
six a year.
Speaker 2 (23:13):
No, but pull it out just as he's sitting down.
Speaker 3 (23:17):
Hey, the popular Aucland walkway being reopened after a year
long closure.
Speaker 2 (23:21):
Which one is this?
Speaker 13 (23:22):
Well, look, this is really really good news. This is
the one on the north shore, that Tuckapoon and Melford
Beach walkway. So I mean the locals here will remember
in September last year. This is the owners of the
first cottage they fenced off the section this is of
that walkway, that Takapoon and Milford Beach walkway because it
cuts across their property. So the Ann and Paul further
State say, now, great news, are going to restore the walkway.
(23:44):
This is a gesture of goodwill because there was you know,
like this huge you know, arguments of the organd Council
refusing requests to remove the cottage's heritage status. So the
estate says, no, we're going to do it. We're going
to restore the walkway. Good news for locals. It's going
to be open and time for summer.
Speaker 2 (24:01):
Brilliant. How's the weather today?
Speaker 13 (24:03):
Fine weather today and our high eighteen degrees and I'm
just going to spin around in this chair a couple
more times.
Speaker 3 (24:09):
You enjoy that you get comfortable in there. Nev never
it all can for us this morning and our reporters
right around the country. Matt, do see the acc Minister
coming up just before six. Should you be worried about
Levy's Should you be worried about coverage with.
Speaker 2 (24:23):
Our no fault insurance game? Plus Mitch McCann out of.
Speaker 1 (24:26):
The States international correspondence with Ends and Eye Insurance. Peace
of mind for New Zealand business.
Speaker 3 (24:34):
Fourteen away from six News Talk Sai'd be great to
have your company this morning. The US election race is
toyter than a toyger, you'd have to say. And so
Karmala Harris is going into the lions. Dan Mitch McCann
is a US correspondent. Mitch is going on Fox News.
Is this a completely unscripted interview situation?
Speaker 5 (24:53):
Well, it is, and it's an opportunity to peel to
more voters because this election is so close, Ryan, it
could come down to just a few hundred votes in
one of these red states in a couple of weeks.
In fact, there are only nineteen days, twelve hours, in
about thirteen minutes to go. And there are a number
of areas that Kamala Harris is doing well.
Speaker 14 (25:12):
Here.
Speaker 5 (25:12):
She's doing well with women and seniors. Donald Trump is
doing well with young men. But there's one demographic that
Kamala Harris would probably like to improve on, and that
is the African American community, which I might add has
always been such a strong source of votes for the Democrats.
So while Kamala Harris is on track to win an
overwhelming number of Black votes, she may need more than
(25:35):
she is forecast. Get this in twenty sixteen and twenty twenty,
the Democrats won the black vote with ninety two and
ninety percent margins. But according to the New York Times,
forecasts show that seventy eight percent support Harris this time around.
So it's a lot of votes, but it's quite a
bit less than what Biden received in twenty twenty. So
(25:56):
this might seem like a lot of votes, but it
could come down to just a feud. Tamalaharas is going
to need that community.
Speaker 3 (26:02):
Especially in places like Georgia, right where the proportion is
a lot higher, it.
Speaker 2 (26:06):
Can swing a state. Let's talk about Biden.
Speaker 3 (26:09):
The administration has sent a letter to Israeli leaders demanding
what exactly.
Speaker 2 (26:15):
Yeah, so the US has written this letter.
Speaker 5 (26:16):
It's been signed by the US Defense Secretary and the
Secretary of State, which tells Israel it has thirty days
to boost humanitarian aid to the people in war torn
Gaza or there is a risk of policy consequences, which
most people assume means that the US may stop shipping
US weapons to Israel. And the four page letter, which
(26:37):
complains about the lack of aid being allowed into Gaza,
points out that the flow of eight has dropped by
more than fifty percent since Benjamin Ettner, who promised to
allow more deliveries. Now the White House says it's not
a threat, but it's just intended to reiterate this sense
of urgency in the region.
Speaker 2 (26:55):
Mitch, thank you for that, Mitch mccannal Man.
Speaker 3 (26:57):
In the States, it is twelve minutes away from six
News Bryant Bridge. ACC's announced to seven point two billion
dollar deficit for the year to journe This just after
a year after reporting a surplace of nine hundred and
eleven million, and it's got everyone on the text machine saying,
what how does that happen? It comes as the ACC
is looking to raise levies for twenty twenty five to
(27:18):
twenty twenty eight. This is to help pay for increasing costs.
Matt Doucy is the ACC minister. He's with me this morning,
Minister Morna, good morning.
Speaker 14 (27:27):
Morlene to mother a Ryan, good to have you.
Speaker 2 (27:30):
On the show.
Speaker 3 (27:30):
Tell me, first of all, how bad is this on
a scale of one to ten, How worried are you?
Speaker 14 (27:36):
Oh? Look, I think it's hugely concerning. I think ACC
quite frankly needs to lift its game. But I think
we do need to take a step back. I mean
ACC celebrated its fiftieth birthday recently. It's a big institution
in New Zealand. In the last financial year it's settled
about seven billion dollars worth of claims, four billion for
treatment costs, about three billion for a weekly compensation. We're
(28:01):
not talking about any financial sustainability risks in the short
to medium term. It's more about when you look at
what's called the OCL the outstanding claims liability for long
term and what we've seen through some factors like inflation,
treatment costs, population growth, we've seen significant rise in the
(28:23):
outstanding claims liability. But on saying that, there's two areas
ryan One is factors that are inside accs controls stuff
that's outside, like sometimes inflation and treatment costs. But I
think they've really got to focus on their rehabilitation rates.
We've seen them continue to decline and that's a big
(28:43):
area that I think that they can focus on to
improve their position.
Speaker 3 (28:47):
You mentioned the population growth. I mean, if the population
is growing, there should be more people paying into the
system too, right, So can't we cancel that one out.
Speaker 14 (28:56):
Potentially, But when you look at some times the exponential
factor in the claims and that's what they've actually seen
this year. Specifically, they've seen people claiming. They have seen
more people claiming. But like I say, there is levers
inside their control injury prevention. Does that rehabilitation rates.
Speaker 3 (29:16):
When more people are is that over and above population growth?
Are we having more accidents when?
Speaker 2 (29:22):
Why?
Speaker 9 (29:23):
Yeah?
Speaker 14 (29:24):
I think quite crudely, when you look at those statistics,
you could draw that conclusion. I don't have the details
on why that is, but like I say, there's an
ability for acc to focus on the levers that they
have in their control. Our rehabilitation rates have been declining
over a number of years. So I've made it very
(29:44):
clear that is to be the primary focus. But also
want to touch on another area, which is about a
third of that significant increase, And what that is is
court rulings that have changed some of the entitlements and
what we call boundary issues.
Speaker 2 (30:01):
One of them two generals. Is it too general?
Speaker 14 (30:07):
What the court has ruled in one area has significantly
increased the OCL by three point six billion dollars alone.
So those are areas that we need to look at all.
Speaker 3 (30:17):
Right, well, very quickly, we literally have ten seconds left.
Will this mean levees will have to go up substantially.
What will it mean for us they're actually paying into it,
almillst things be cut.
Speaker 14 (30:29):
I won't get ahead of cabinet decisions, but what I
would say is that levees are only one lever and
I don't expect levees to be used by default. I
expect ACC to lift their game around rehabilitation rates because
they should be ensuring that they are utilizing the income
they're getting from New Zealanders at the moment.
Speaker 3 (30:49):
Fairly, Matt Doc ACC minister, thanks so much for your time.
Eight to six News Talk CV.
Speaker 2 (30:54):
News and Views.
Speaker 1 (30:55):
You trust to start your day's early edition with Ryan Bridge,
Smith City, New Zealand's Furniture Beds and a Flying Store
US Talk Zidvy.
Speaker 3 (31:05):
ACC is one of those issues where people just go
nuts and unload. Good morning, Ryan, ACC minister, who is
just on the show. What a crop of rubbish They
need to stop using. Inflation is the excuse for everything
right about ACC. Time to look at the providers as well.
I've been under care for a hand injury. Unbelievable clipping
(31:25):
the ticket by doctors with little benefits. So lots of
people have an opinion on this. The deficit seven point
two billion dollars. It is five away from six and
I'm in Willington, but Mike is in Auckland and he
is with you next.
Speaker 2 (31:37):
Mike, good morning, good morning.
Speaker 6 (31:38):
You any good as an MC?
Speaker 2 (31:40):
No? I wouldn't rate myself for it.
Speaker 6 (31:42):
Do they pay you? Did they pay you any money
for that last night?
Speaker 2 (31:45):
Or yeah?
Speaker 6 (31:45):
They of course bit of money? And you know you
think goodness so.
Speaker 2 (31:50):
Well, you've been doing that for what sixteen years now? Mike?
What the show? Yeah?
Speaker 6 (31:55):
But I'm good at the show. I'm not good as
an MC.
Speaker 2 (31:58):
Do you not do MC gigs? I don't like it.
Speaker 15 (32:00):
Gigs because I'm like you, I'm no good. I just
don't go out to the marketplace and charge people for
it because I've worked out I'm no good at it.
Speaker 6 (32:07):
Stick to what you're good at.
Speaker 15 (32:08):
Ryan, don't come on the program and go oh bluddy, hell,
I charged twenty thousand dollars last night to be an MC,
and I'm no good at it.
Speaker 2 (32:13):
At the time that I took the gig, Oh you
needed to. I was unemployed. Did that?
Speaker 15 (32:20):
That would have been nice to start with last night?
Say look what you're about to get is not that good.
I'm not that good. But I was unemployed at the time.
See that's a good laugh to start the show. People
would have immediately thought, oh, he's a nice guy.
Speaker 3 (32:32):
Do you know what was interesting? Obviously the mayor was there,
the Prime Minister was there, and I was, you know,
sort of looking for any interactive There was no interaction
between them.
Speaker 2 (32:41):
Well did you rack it up?
Speaker 3 (32:42):
I would have yeah, Well, do you know I planned
to go in there and really shite stir Yes, and
then I sort of I felt bad when I was there,
you know, I really sort.
Speaker 6 (32:53):
Of when you say that, you say, Tory, I'm feeling
sorry for you. I would have laughed nervously.
Speaker 2 (33:00):
There.
Speaker 15 (33:00):
Do you want to work with the primisse? See, I
would have racked it up. I would have gone big time.
That's why I'm charging so much money. I should get
back into the mc gig. I'm actually quite good. I've
talked to myself into it.
Speaker 2 (33:10):
Well, what's on your show today?
Speaker 15 (33:12):
We'll talk to the finance minister who the thing about
the inflation and I think we need to read that.
Speaker 6 (33:17):
You know, we're all a bit excited. We go, oh,
thank god, it's gone down. I think it's entirely.
Speaker 15 (33:21):
Possible they've overcooked it and they've gone too low. In
other words, yesterday's number was lower than they thought it would.
That indicates that things need to be boosted once again.
So we go back to the whole. Is it fifty
or is at seventy five? But anyway, Nikola will lissay
up to seven.
Speaker 3 (33:36):
All right, Mike is within next Thanks for having me Wellington,
it probably won't have me back as an MC by
the sounds of that three away from Sex.
Speaker 1 (33:45):
For more from Early Edition with Ryan Bridge, listen live
to News Talks it'd be from five am weekdays, or
follow the podcast on iHeartRadio
The issues, the interviews and the inside. Ryan Bridge new
for twenty twenty four on an early edition with Smith City,
New Zealand's furniture vans and a play at store.
Speaker 2 (00:14):
US Talks B.
Speaker 3 (00:16):
Good morning, it is six after five news Talk, SAIDB
on Ryan Bridge, coming to you live from our crazy
little capital, Wellington this morning.
Speaker 2 (00:24):
Acc and the red seven point two billion dollars?
Speaker 3 (00:28):
Are they going to cut your subsidized physio visits?
Speaker 2 (00:31):
Will ask the Minister Matt Doosey just before six.
Speaker 3 (00:34):
Inflation under control, so why do we still feel so poor?
Nick Tuffley on that Wellington, the chamazzle city, the councilor
who wants an early election, plus the link between house
prices and babies, plus Mitch McCann in the US All
ahead on this morning show.
Speaker 1 (00:52):
The agenda.
Speaker 3 (00:55):
It is Thursday, the seventeenth of October. An explosion has
killed ninety four people in Nigeria. It's understood a tanker
driver lost control and crashed, causing fuel to leak onto
the road, then quickly igniting people.
Speaker 4 (01:07):
Locals and villagers came to scoop to fuel that's spilled
out on the streets on the gotteras and that sparked
a very quick conferno which I witness it to say
was very massive.
Speaker 2 (01:20):
Under many people could notice scape it. At least fifty
injured as well.
Speaker 3 (01:23):
A seven year old has died and six others have
been injured after an explosion destroyed three houses.
Speaker 2 (01:29):
This is a newcastle in the UK.
Speaker 5 (01:31):
The boys loved ones are being supported by specialist officers.
Speaker 3 (01:34):
An investigation is ongoing to establish how the explosion occurred.
It's ready, They've got a plan and it's only a
matter of time now before Israel executes it. According to CNN,
retaliation against Iran will target military sites only, not oil
or nuclear facilities. Trump to the United States, We go now.
(01:55):
Trump's calling back in the Poles. So Carmel is changing
up his strategy. Forget the machhallow barma, they go low,
we go high. Speech Harris has labeled Trump erratic, unstable,
unhinged and now a fascist.
Speaker 6 (02:08):
And the other Donald Trump is about taking us backward.
Speaker 2 (02:12):
Oh there's muf fascism. Why can we just see it? Yes,
we can say that.
Speaker 1 (02:19):
Ryan Bridge new for twenty twenty four on early edition
with Smith City, New Zealand's furniture beds and a playing store.
Speaker 2 (02:26):
News talk Zidby and we'll.
Speaker 3 (02:28):
Ask Mitch mcckenn about that later on in the show too.
This morning, though, should we be worried about this?
Speaker 2 (02:33):
That'll do for any old Scritannia's day or so had
fucking it and it's four two? You heard us? They're
backing it.
Speaker 3 (02:45):
Yeah all right, so they've come back. They're doing a
little bit better. Adam Cooper's with us, said, be sport
here in Wellington. Hey Adam, Hey Ron welcome, Yeah, thank you.
Should we be worried about this? Or was this just
a little blip?
Speaker 7 (02:54):
Well, I don't think so. I think it was two
mistakes from Team New Zealand. This happens in sailing. You know,
it's such a delicate kit situation when these these two
syndicates are getting the best of the wind, lighting up
at the start line. I guess we saw Team New
Zealand make their first mistake of this whole final. They
got off the foils and sort of found themselves on
the water. Obviously these boats go the fastest and ultimately
(03:15):
you know, are above the water sort of on the foils.
And then Team New Zealand somehow made a bit of
a mistake got off the foils and that sort of
effected them from the start. They couldn't really get back
into that that first race, and then another mistake sort
of towards the start of the second race as well.
So I think, rather than being concerning, it is actually
more exciting.
Speaker 3 (03:31):
Well yeah, well that's the first time I've paid attention. Yeah, now,
were up four and il.
Speaker 7 (03:35):
And we thought, come on, this is we don't want
this to be a full gone conclusion. We want this
to carry on for a few more days and and
for it to be tight.
Speaker 2 (03:42):
So four to two.
Speaker 7 (03:43):
I think Team New Zealand we know that their boat
is world class the way it's been built, what it does,
so I think, you know, and.
Speaker 3 (03:51):
It's first to seven, isn't it? And next race is
Saturday morning, yes, so we won't have an out And.
Speaker 2 (03:56):
Then after that is it Sunday? Did they race?
Speaker 8 (03:58):
Yeah?
Speaker 2 (03:58):
They they'll continue through over the weekend.
Speaker 7 (03:59):
I mean, everyone will keep in the back of their
minds that San Francisco America's cut when he's eeling more
up at eight. You know, they had eight in the
first to nine and then they got beaten.
Speaker 2 (04:09):
They're about up about eight one, and Oracle at the
time came back and beat them nine to eight.
Speaker 7 (04:14):
So I think everyone's a little bit fearful of that,
but I think at the moment we're still pretty confident.
Speaker 3 (04:18):
I'd say, Adam, thank you very much, Adam cooper' zi'by
sport with me here in Wellington this morning. It has
just gone ten minutes after five on News Talk.
Speaker 2 (04:25):
Z'B Brian Bridge. Now, this was not my song choice.
Speaker 3 (04:32):
This is Donald Trump's song choice in case you have
missed it, and I implore you to please go and
just google this. Donald Trump at a rally in Pennsylvania yesterday,
just to hell with it. I'm not going to keep
speaking and answering questions. I think some people in the
audience became unwell. And he started a disco which lasted
(04:53):
forty minutes, and he does that dance where he moves
his hands and it looks a little bit odd anyway,
for forty minutes, and people loved it.
Speaker 2 (05:01):
People enjoyed it. This is the thing about campaigning.
Speaker 3 (05:04):
Your candidates are often often exhausted, tired, and are prone
to just do weird stuff. It happens all the time.
And this was a weird thing. And it's forty minutes
of weird stuff. Hey, lots to come on the program
this morning and I want to fill you in on
an Air India flight. Basically a bomb thread against an
Air India flight, third time in two days. This time
(05:29):
the Singaporean Air Forces had to help help them land.
So we'll tell you, put you on on what that story,
what it's all about in just a sec News Talk said,
be on your Thursday morning eleven after five.
Speaker 1 (05:45):
Time the first word on the News of the Day
Early edition with Ryan Bridge and Smith City, New Zealand's
Furniture Beds and a Planet Store News Talk.
Speaker 3 (05:59):
ZIB fourteen after five News Talks ZB. So all you
need to do to bring down an airline, to bring
down a jet is basically seen an email and you
can disrupt global air travel. What an impossible situation for
airlines to try and handle anyway, So this is what happened. Basically,
somebody has or someone or some group is targeting Air
(06:22):
India flights. They have had three hoaxes in the last
two days. The latest one a two Singaporean Air Force
fighter jets had to scramble and escort an Air India
flight away from populated areas after the airline received an
email that there was a bomb on board the plane.
Speaker 2 (06:41):
It was a hoax.
Speaker 3 (06:43):
Nothing true about it. It's not funny, it's quite serious.
But how do you manage this when it's happened three
times now in the last two days. Nothing was found
once they landed. There was a plane going to Chicago
landed in Canada. One going to Mumbai to New York
City had to be verted to dally. How do you
handle that and who is behind it? I guess they
(07:05):
will get to the bottom of that. The former quite
hard to manage, I would imagine. Quarter past five, Ryan Bridge,
speaking of hard to manage. Wellington City Council and Wellington's
Meor Torri Farno will meet with Local Government Minister Simeon
Brown this morning at eight point thirty in a bid
to stop the government from intervening in our capital's council.
Yesterday they held an emergency meeting to try and fix
(07:26):
the long term plan, which relied on selling some of
the council's airport shares, which they voted not to do.
Ray Chung is the Wonnington City Councilor. He's with me
in the capital this morning. Ray, good morning, bear with me.
Speaker 2 (07:40):
There we go. Ray, are you with me.
Speaker 3 (07:42):
Yep, I've got you just fine, tell me what happens.
So you guys had this brief meeting yesterday for about
an hour. What is the mayor actually got to tell
Simeon Brown this morning?
Speaker 2 (07:56):
Do you know?
Speaker 9 (07:57):
Well, I think she's going that we've we've set the direction,
We've got general agreement from the council. Uh, you know,
through our meeting yesterday, we we appreciate that we've got
to make those savings. We've got to make those cuts.
The one of the problems though, is that we don't
know exactly how much we we actually have to take out.
(08:18):
We didn't get those numbers, and then so there's there's
you know, just a few different numbers and so but
once we get there, you know, we can look at
which bits that we actually need to take out. But yeah,
so I think that's a message he's taking.
Speaker 3 (08:32):
So at the moment, you haven't actually agreed on anything.
You've just agreed to basically be a bit more agreeable.
Speaker 2 (08:38):
Yeah.
Speaker 9 (08:39):
Yeah, which just seemed to me to be a bit
a bit light because then and I would have thought
that we would walk on through and see it. Okay, Uh,
what are you willing to take out and what are
you're not willing to take out? And then so the
things that we all agree on, we can we can
put those down in the top row. And then the
(08:59):
things that we got agree on, we can say, okay,
we'll leave us a discussion and we'll look at how
much we actually need to cut before we can actually
do those. But but because we didn't have that information,
we we you know, we didn't do that.
Speaker 2 (09:13):
So you do you still want do you still want
an early election?
Speaker 3 (09:17):
And did you hear back from sim In Brown's office
with your request for one?
Speaker 9 (09:21):
No?
Speaker 3 (09:22):
No, no?
Speaker 9 (09:22):
What I said that my preference would be for an
early election rather than the commissioner, because I'm just not
sure what a commissioner would do. And I looked at
the tower on the situation, and I think that the
situation we've got is different from from tower on it.
And I also talked to people up there and they
(09:42):
said that, well, some are happy and some and not.
So it's not having a commissioner and isn't the answer
to everything.
Speaker 2 (09:48):
I don't believe. Do you want to be may or? Ray?
I am going to have a.
Speaker 9 (09:55):
Go at it, yep, to certainly have to go with it.
Speaker 3 (09:58):
That's why you're won an early election, right, get in there,
toy is gone raise the mayor.
Speaker 9 (10:05):
No, not really. I'm usually not enjoying council and certainly
very very different from working my previous job, So I
don't think I've got a natural fit for it. But well,
I do think that something needs to happened. I run
constituent reading really monthly, and I'm getting feedback from everyone
(10:29):
I talked to about how on happy they are with
the way the city's going.
Speaker 3 (10:33):
Yeah and yeah, and I mean you heard it that
event last night in Wellington celebrating business leaders in Wellington,
which is a fantastic event, But you did hear that
it just needs to be done.
Speaker 2 (10:43):
Something needs to be done. It needs to be sorted.
Speaker 3 (10:45):
Rayshang with us, potentially future mayor of Wellington, Wellington City councilor.
It is nineteen after five News Talk set b.
Speaker 2 (10:54):
Get ahead of the headlines.
Speaker 1 (10:56):
Ryan Bridge you for twenty twenty four on early edition
Smith City, New Zealand's fourniture beds and a playing store.
Speaker 2 (11:03):
News Talk z'd be good morning.
Speaker 3 (11:05):
Twenty one minutes after five on News Talk said be
how big will Adrian or go on rate cuts next month?
Speaker 2 (11:10):
That is the question on everybody's lips.
Speaker 3 (11:12):
He's away on business at the IMF currently, apparently, But
after yesterday's lowest annual inflation figure in three and a
half years, back in the safe zone at two point
two percent, could we see a seventy five basis point
cut by Christmas? Gosh, we're all excited, aren't we. Nick touughley'
is the asbchief economist. He's with us this morning.
Speaker 2 (11:31):
Hey, Nick, morning, Hey, So I mean this, first of.
Speaker 3 (11:34):
All, this is great news, isn't it that we're back
in a safe zone?
Speaker 2 (11:37):
But how how safe are we? How precurious is that.
Speaker 8 (11:42):
We do think that inflation will be remaining very close
to two percent now over the next couple of years.
So if anything needs a chance that inflation could each
of it below two percent at some point as we're
heading towards the end of twenty twenty five twenty twenty six. Look,
we're really back in the zone now.
Speaker 3 (12:00):
And it would take something quite dramatic to get us out,
because I mean, you look at the insurance, the rents,
the rates that will expected to keep going up, right,
But the international story is a different one. What about
if oil spiked because of the Middle East or something
like that.
Speaker 8 (12:17):
Well, we still have that mixture where some of that
domestic inflation is still pretty high, and that will need
a little bit going forward, and that will help keep
things down. We have had things like oil prices pulling
back at times over the last quarter, which helped keep
inflation low at the moment. But yes, there's always the Wattes.
It will take a pretty significant spike in the price
(12:38):
of oil to push things up, and the Reserve Bank
won't necessarily rush to turn around and start putting rates
up or slow the pace down because oil prices are
something that can't control. They tend to have a short
term impact. But the Reserve Bank would worry about so
sizeable and lifting oil prices, whether there are some lingering
impacts created by just the impacts of it has on
(13:00):
transport and wider costs.
Speaker 3 (13:02):
All right, I'll stop worrying about the oil thing now
and then Nick, thank you. Well, what's up with the
domestic air travel? The price is down by eleven percent?
I was reading that going really eleven percent?
Speaker 8 (13:14):
Well, you do find that air travels it's quite seasonal,
so it does go up and down from one quarter
to the next. As we move in and out of
the sort of tourism season. We did see quite a
spike in sort of airfare prices in that sort of
immediate post COVID period, but we have now started to
(13:35):
see some settling down in that area and you can
see that in accommodation costs as well, where the trend
has been that things have started to ease back after
that initial nudge that we saw.
Speaker 3 (13:46):
Nick, Thanks very much for you update this morning. Really
appreciate it. Nick Tuffley, chief economist at ASB Bank. We're
in the zone and it sounds like we're going to
stay there for the full seable, which is great news.
Speaker 2 (13:56):
Just gone twenty four after five News Talks. That'd be the.
Speaker 1 (13:59):
Earlier this year full show podcast on iHeartRadio. How it
by News Talks.
Speaker 3 (14:03):
It me it is twenty six alf to five year
on News Talks. It be a timely reminder, an important
one too for me. Last night, I'm in Wellington, as
I mentioned earlier, flew into the shammozzel storm yesterday for
an event last night. It's easily one of the most
beautiful cities in New Zealand, is it not?
Speaker 2 (14:20):
Can we all agree on that?
Speaker 3 (14:22):
With the Hills jutting out of the harbor, all of
the bush surrounding it. It is stunning and the weather
was good, so that helped. It was absolutely beautiful flying
in and then you land and there's the road cones
and there's the uber driver not happy, and the Mayor's
and meltdown, and the government's taking over and the council
is all over the place, shambles, shamozl all that stuff.
But then this event last night featured and honored a
(14:45):
couple of Wellington business people, among them Brian McGuinness, whose
family have either built or refurbished basically half of Wellington,
including Government House by the way, which I found fascinating
being in business for decades, you know, more than fifty years.
Speaker 2 (15:00):
Doug Hodak was a name you will know. He was
on there as well, great Wellingtonian. Many were honored there.
Speaker 3 (15:07):
But the speech has particularly got me last night, got
me right in the guts. Actually, these are guys who
have seen it all, Wellington at its best, Wellington at
its absolute worst, but when it's the crown on the jewel,
when it's the butt of our jokes. And their message
essentially was politics is temporary, like any city.
Speaker 2 (15:29):
The real pulse.
Speaker 3 (15:30):
The real engine room is private enterprise, always has been,
always will be. And there was a tech guru, John
Daniel Trask who spoke last night. He said we shouldn't
always look to the council, to the government to fix
our problems or to make things better, because for the
most part we can actually do it on our own.
(15:53):
We can solve problems on our own. Sure, there are
some issues that only government can and counsel can look
after that only government and council have.
Speaker 2 (16:01):
A purview over.
Speaker 3 (16:03):
But for most things we can actually do it ourselves.
And so that is true of Wellington. Wellington is no exception.
Wellington will come back and probably doesn't help that people
like me sit in front of microphones in Auckland and bleat.
Speaker 2 (16:19):
About the place.
Speaker 3 (16:21):
But you know, it's fun from a distance, quite different
up close. Twenty eight after five Crying Bridge. Matt Doocey's
on the show. He's the acc Minister. Because the deficits
just hit seven point two billion dollars for the year.
We will ask him what does that mean for your levies?
Does that mean they'll cut back on some of your
physio services? You have taxis to work. Apparently it's taking
(16:45):
us longer to recover from injuries? Does that sound suspicious
to you? I mean, with all the medical advancements, with
all of the physio treatments we have now, why is
it taking us longer to recover from in Is someone
taking the piss? Twenty nine after five News Talks by.
Speaker 1 (17:25):
On your radio and online on iHeartRadio Early edition with
Ryan Bridge and Smith City, New Zealand's Furniture Beds and
a Playing Store. News Talks A B.
Speaker 3 (17:47):
Good morning, twenty four away from six News Talks B.
It's going to be a great day. Welcome to your Thursday.
Mitch McCann is stateside for us. The political race now
in a dead heat. And what is Karmala Harris going
to do? Where she's going on the attack is what
she's doing. Mitch McCann with us a little later, Matt Doocy,
the ACC Minister, A lot of concern from you this
morning about the books. Our ACC books a seven point
(18:11):
two billion dollar deficit. We'll ask the minister about that.
Speaker 1 (18:15):
Ryan.
Speaker 3 (18:16):
Something doesn't add up, says David, with the losses incurred
by ACC going from a billion dollar profit to a
seven billion dollar loss in one year, and they're making
it sound like it's all client costs. However, it would
be interesting to know if they have lost money through
bad investments, they actually made money on their investments, David.
But I will ask Matt Doocy about that. What it
(18:36):
says here is the largely driven by an eight point
seven billion dollar increase in the outstanding claims liability, which
is basically how much they expect injuries that have already
happened to cost them into the future. That has increased substantially.
So I'm assuming that is inflation related.
Speaker 2 (18:56):
I don't know.
Speaker 3 (18:57):
We'll ask Matt Doocy about that when he's on the show.
Just before six it is twenty three away.
Speaker 2 (19:02):
Ran the Bridge.
Speaker 3 (19:03):
We're going to our reporters around the country, starting in
Dunedin with Callen Proctor.
Speaker 2 (19:06):
Cullen, Good morning.
Speaker 3 (19:08):
Morning, Ryan, fresh push from Dunedin about the health system there.
Speaker 10 (19:14):
Yes, the mayor and the and councilors here have unveiled
officially unveiled this ambulance, this protest ambulance, Ryan, and its
name is Cliff as in the ambulance at the bottom
of and that's what they want to avoid here with
our health system and this hospital process campaign. It's being
(19:35):
used to help spread the campaign's new slogan around the
South and potentially up to Wellington. This ambulance the new
slogan Save our Southern Hospital. The councilor has also purchased
digital billboards in Wellington, they say, at a heavily discounted price,
with the save our Southern Hospital message clearly aimed at
the politicians.
Speaker 2 (19:53):
There.
Speaker 10 (19:53):
There's campaign badges, a website and Instagram page being launched
as well. The mayor says, look that the such a
simple They want the hospital that was promised one fit
for purpose now and for decades to come.
Speaker 2 (20:05):
All right, how's your weather today? Come fine? And sixteen today? Brilliant?
Thank you.
Speaker 3 (20:10):
Claire Schubert is in christ Church with well almost the
opposite story there, Claire, Yeah.
Speaker 11 (20:15):
Well we're celebrating up here that we've got some more
surgical theater space coming to christ Church.
Speaker 3 (20:21):
Now.
Speaker 11 (20:21):
Of course, normally I'm talking about how bad our health
system in christ Church is, but at the moment this
is good news. There is an increase to the capacity,
with eighteen hundred surgeries to be on offer annually come
January next year. This is because of an expansion to
Forte Health Hospital. That is, of course a private hospital here,
but it's used by the public system too. The chief executive,
(20:43):
Michael Woodhouse, says this has been running at capacity for
the last five years. Construction of the fifth operating theatre
is going to increase the space by twenty five percent.
He says, as I just mentioned that opening. It will
also increase use for the public health system to access
the theater capacity when needed.
Speaker 2 (21:00):
Very good. How's your weather today?
Speaker 11 (21:01):
Clad will clear to find this morning northeast of east
developing and be fresh for a time this afternoon a high.
Speaker 6 (21:07):
Of fourteen brilliant.
Speaker 2 (21:08):
Thank you.
Speaker 3 (21:09):
Max Hoole is with me in Wellington this morning. Max,
good morning, what a pleasure do you know? You look
a lot happier than you sound. Comes in with a
big beaming smile.
Speaker 12 (21:19):
Take that as a compliment.
Speaker 2 (21:20):
Hey, what's happening with the council.
Speaker 3 (21:22):
We've got this meeting at eight thirty with Simmon Brown
and the mere right yeaheah.
Speaker 12 (21:26):
Let's start with yesterday a bit of a media circus
at the City Council. Our reporter was there, other reporters
that were their councilors. The councilors all sidled out one
by one. They got their five minutes. Let's start with
the mayor. She's resolute. She says the meeting was productive.
Nothing to see here, even though nothing's actually been determined yet.
Called this urgent meeting, of course, to discuss this financial
hole in the budget worth up to six hundred million dollars,
(21:48):
she's insisting they're getting on with it. The thing is,
we're about a year out from local body elections, and
I can tell you quite a few people in that
room yesterday are weighing up running for mayor. Right now,
let's start with Ray Chung. He's confirmed, the only one
who is confirmed actually is running for mayor. He says,
Hid do virtually everything different to Tori Fano, And yet
the majority obviously against crown intervention. As you say, Fanos
(22:10):
meeting the Simeon Brown, the local government minister today are
united fronts. Not really intervention still possible, perhaps even likely.
I think the council is going to remain a circus
for some time.
Speaker 3 (22:21):
Yeah, I think you're right. But I said to we
head Rychang on this morning, I said, what did you
actually decide yesterday? I mean, they didn't decide anything, just
to be a bit more agreeable with each other into
the future.
Speaker 12 (22:32):
Well yeah, almost like advice behind the scenes. Can we
please you know, present at least this United Front.
Speaker 3 (22:38):
Yeah, all right, thank you Max. Great to see you, Max.
Hole in Wellington. How we're the today?
Speaker 12 (22:42):
I should say it should be mostly fine once it
starts to warm up, getting up to sixteen in the city.
Speaker 2 (22:47):
Brilliant. Thank you navers in Auckland this morning, every good morning.
Speaker 6 (22:50):
Good morning.
Speaker 13 (22:50):
I am sitting in your seat today because obviously you're
in Wellington and this seat is amazing.
Speaker 3 (22:57):
It is quite comfortable, isn't it very No, you probably
shouldn't call it my seat because you know who will
get upset by that.
Speaker 2 (23:05):
The the hosk will get upset.
Speaker 13 (23:08):
I'm going to wheel it out before he starts at
six a year.
Speaker 2 (23:13):
No, but pull it out just as he's sitting down.
Speaker 3 (23:17):
Hey, the popular Aucland walkway being reopened after a year
long closure.
Speaker 2 (23:21):
Which one is this?
Speaker 13 (23:22):
Well, look, this is really really good news. This is
the one on the north shore, that Tuckapoon and Melford
Beach walkway. So I mean the locals here will remember
in September last year. This is the owners of the
first cottage they fenced off the section this is of
that walkway, that Takapoon and Milford Beach walkway because it
cuts across their property. So the Ann and Paul further
State say, now, great news, are going to restore the walkway.
(23:44):
This is a gesture of goodwill because there was you know,
like this huge you know, arguments of the organd Council
refusing requests to remove the cottage's heritage status. So the
estate says, no, we're going to do it. We're going
to restore the walkway. Good news for locals. It's going
to be open and time for summer.
Speaker 2 (24:01):
Brilliant. How's the weather today?
Speaker 13 (24:03):
Fine weather today and our high eighteen degrees and I'm
just going to spin around in this chair a couple
more times.
Speaker 3 (24:09):
You enjoy that you get comfortable in there. Nev never
it all can for us this morning and our reporters
right around the country. Matt, do see the acc Minister
coming up just before six. Should you be worried about
Levy's Should you be worried about coverage with.
Speaker 2 (24:23):
Our no fault insurance game? Plus Mitch McCann out of.
Speaker 1 (24:26):
The States international correspondence with Ends and Eye Insurance. Peace
of mind for New Zealand business.
Speaker 3 (24:34):
Fourteen away from six News Talk Sai'd be great to
have your company this morning. The US election race is
toyter than a toyger, you'd have to say. And so
Karmala Harris is going into the lions. Dan Mitch McCann
is a US correspondent. Mitch is going on Fox News.
Is this a completely unscripted interview situation?
Speaker 5 (24:53):
Well, it is, and it's an opportunity to peel to
more voters because this election is so close, Ryan, it
could come down to just a few hundred votes in
one of these red states in a couple of weeks.
In fact, there are only nineteen days, twelve hours, in
about thirteen minutes to go. And there are a number
of areas that Kamala Harris is doing well.
Speaker 14 (25:12):
Here.
Speaker 5 (25:12):
She's doing well with women and seniors. Donald Trump is
doing well with young men. But there's one demographic that
Kamala Harris would probably like to improve on, and that
is the African American community, which I might add has
always been such a strong source of votes for the Democrats.
So while Kamala Harris is on track to win an
overwhelming number of Black votes, she may need more than
(25:35):
she is forecast. Get this in twenty sixteen and twenty twenty,
the Democrats won the black vote with ninety two and
ninety percent margins. But according to the New York Times,
forecasts show that seventy eight percent support Harris this time around.
So it's a lot of votes, but it's quite a
bit less than what Biden received in twenty twenty. So
(25:56):
this might seem like a lot of votes, but it
could come down to just a feud. Tamalaharas is going
to need that community.
Speaker 3 (26:02):
Especially in places like Georgia, right where the proportion is
a lot higher, it.
Speaker 2 (26:06):
Can swing a state. Let's talk about Biden.
Speaker 3 (26:09):
The administration has sent a letter to Israeli leaders demanding
what exactly.
Speaker 2 (26:15):
Yeah, so the US has written this letter.
Speaker 5 (26:16):
It's been signed by the US Defense Secretary and the
Secretary of State, which tells Israel it has thirty days
to boost humanitarian aid to the people in war torn
Gaza or there is a risk of policy consequences, which
most people assume means that the US may stop shipping
US weapons to Israel. And the four page letter, which
(26:37):
complains about the lack of aid being allowed into Gaza,
points out that the flow of eight has dropped by
more than fifty percent since Benjamin Ettner, who promised to
allow more deliveries. Now the White House says it's not
a threat, but it's just intended to reiterate this sense
of urgency in the region.
Speaker 2 (26:55):
Mitch, thank you for that, Mitch mccannal Man.
Speaker 3 (26:57):
In the States, it is twelve minutes away from six
News Bryant Bridge. ACC's announced to seven point two billion
dollar deficit for the year to journe This just after
a year after reporting a surplace of nine hundred and
eleven million, and it's got everyone on the text machine saying,
what how does that happen? It comes as the ACC
is looking to raise levies for twenty twenty five to
(27:18):
twenty twenty eight. This is to help pay for increasing costs.
Matt Doucy is the ACC minister. He's with me this morning,
Minister Morna, good morning.
Speaker 14 (27:27):
Morlene to mother a Ryan, good to have you.
Speaker 2 (27:30):
On the show.
Speaker 3 (27:30):
Tell me, first of all, how bad is this on
a scale of one to ten, How worried are you?
Speaker 14 (27:36):
Oh? Look, I think it's hugely concerning. I think ACC
quite frankly needs to lift its game. But I think
we do need to take a step back. I mean
ACC celebrated its fiftieth birthday recently. It's a big institution
in New Zealand. In the last financial year it's settled
about seven billion dollars worth of claims, four billion for
treatment costs, about three billion for a weekly compensation. We're
(28:01):
not talking about any financial sustainability risks in the short
to medium term. It's more about when you look at
what's called the OCL the outstanding claims liability for long
term and what we've seen through some factors like inflation,
treatment costs, population growth, we've seen significant rise in the
(28:23):
outstanding claims liability. But on saying that, there's two areas
ryan One is factors that are inside accs controls stuff
that's outside, like sometimes inflation and treatment costs. But I
think they've really got to focus on their rehabilitation rates.
We've seen them continue to decline and that's a big
(28:43):
area that I think that they can focus on to
improve their position.
Speaker 3 (28:47):
You mentioned the population growth. I mean, if the population
is growing, there should be more people paying into the
system too, right, So can't we cancel that one out.
Speaker 14 (28:56):
Potentially, But when you look at some times the exponential
factor in the claims and that's what they've actually seen
this year. Specifically, they've seen people claiming. They have seen
more people claiming. But like I say, there is levers
inside their control injury prevention. Does that rehabilitation rates.
Speaker 3 (29:16):
When more people are is that over and above population growth?
Are we having more accidents when?
Speaker 2 (29:22):
Why?
Speaker 9 (29:23):
Yeah?
Speaker 14 (29:24):
I think quite crudely, when you look at those statistics,
you could draw that conclusion. I don't have the details
on why that is, but like I say, there's an
ability for acc to focus on the levers that they
have in their control. Our rehabilitation rates have been declining
over a number of years. So I've made it very
(29:44):
clear that is to be the primary focus. But also
want to touch on another area, which is about a
third of that significant increase, And what that is is
court rulings that have changed some of the entitlements and
what we call boundary issues.
Speaker 2 (30:01):
One of them two generals. Is it too general?
Speaker 14 (30:07):
What the court has ruled in one area has significantly
increased the OCL by three point six billion dollars alone.
So those are areas that we need to look at all.
Speaker 3 (30:17):
Right, well, very quickly, we literally have ten seconds left.
Will this mean levees will have to go up substantially.
What will it mean for us they're actually paying into it,
almillst things be cut.
Speaker 14 (30:29):
I won't get ahead of cabinet decisions, but what I
would say is that levees are only one lever and
I don't expect levees to be used by default. I
expect ACC to lift their game around rehabilitation rates because
they should be ensuring that they are utilizing the income
they're getting from New Zealanders at the moment.
Speaker 3 (30:49):
Fairly, Matt Doc ACC minister, thanks so much for your time.
Eight to six News Talk CV.
Speaker 2 (30:54):
News and Views.
Speaker 1 (30:55):
You trust to start your day's early edition with Ryan Bridge,
Smith City, New Zealand's Furniture Beds and a Flying Store
US Talk Zidvy.
Speaker 3 (31:05):
ACC is one of those issues where people just go
nuts and unload. Good morning, Ryan, ACC minister, who is
just on the show. What a crop of rubbish They
need to stop using. Inflation is the excuse for everything
right about ACC. Time to look at the providers as well.
I've been under care for a hand injury. Unbelievable clipping
(31:25):
the ticket by doctors with little benefits. So lots of
people have an opinion on this. The deficit seven point
two billion dollars. It is five away from six and
I'm in Willington, but Mike is in Auckland and he
is with you next.
Speaker 2 (31:37):
Mike, good morning, good morning.
Speaker 6 (31:38):
You any good as an MC?
Speaker 2 (31:40):
No? I wouldn't rate myself for it.
Speaker 6 (31:42):
Do they pay you? Did they pay you any money
for that last night?
Speaker 2 (31:45):
Or yeah?
Speaker 6 (31:45):
They of course bit of money? And you know you
think goodness so.
Speaker 2 (31:50):
Well, you've been doing that for what sixteen years now? Mike?
What the show? Yeah?
Speaker 6 (31:55):
But I'm good at the show. I'm not good as
an MC.
Speaker 2 (31:58):
Do you not do MC gigs? I don't like it.
Speaker 15 (32:00):
Gigs because I'm like you, I'm no good. I just
don't go out to the marketplace and charge people for
it because I've worked out I'm no good at it.
Speaker 6 (32:07):
Stick to what you're good at.
Speaker 15 (32:08):
Ryan, don't come on the program and go oh bluddy, hell,
I charged twenty thousand dollars last night to be an MC,
and I'm no good at it.
Speaker 2 (32:13):
At the time that I took the gig, Oh you
needed to. I was unemployed. Did that?
Speaker 15 (32:20):
That would have been nice to start with last night?
Say look what you're about to get is not that good.
I'm not that good. But I was unemployed at the time.
See that's a good laugh to start the show. People
would have immediately thought, oh, he's a nice guy.
Speaker 3 (32:32):
Do you know what was interesting? Obviously the mayor was there,
the Prime Minister was there, and I was, you know,
sort of looking for any interactive There was no interaction
between them.
Speaker 2 (32:41):
Well did you rack it up?
Speaker 3 (32:42):
I would have yeah, Well, do you know I planned
to go in there and really shite stir Yes, and
then I sort of I felt bad when I was there,
you know, I really sort.
Speaker 6 (32:53):
Of when you say that, you say, Tory, I'm feeling
sorry for you. I would have laughed nervously.
Speaker 2 (33:00):
There.
Speaker 15 (33:00):
Do you want to work with the primisse? See, I
would have racked it up. I would have gone big time.
That's why I'm charging so much money. I should get
back into the mc gig. I'm actually quite good. I've
talked to myself into it.
Speaker 2 (33:10):
Well, what's on your show today?
Speaker 15 (33:12):
We'll talk to the finance minister who the thing about
the inflation and I think we need to read that.
Speaker 6 (33:17):
You know, we're all a bit excited. We go, oh,
thank god, it's gone down. I think it's entirely.
Speaker 15 (33:21):
Possible they've overcooked it and they've gone too low. In
other words, yesterday's number was lower than they thought it would.
That indicates that things need to be boosted once again.
So we go back to the whole. Is it fifty
or is at seventy five? But anyway, Nikola will lissay
up to seven.
Speaker 3 (33:36):
All right, Mike is within next Thanks for having me Wellington,
it probably won't have me back as an MC by
the sounds of that three away from Sex.
Speaker 1 (33:45):
For more from Early Edition with Ryan Bridge, listen live
to News Talks it'd be from five am weekdays, or
follow the podcast on iHeartRadio
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