Latest / Early Edition with Ryan Bridge / Full Show Podcast: 29 May 2025

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Full Show Podcast: 29 May 2025 · Early Edition with Ryan Bridge

0:01
Speaker 1: The issues these and the inside Ryan Bridge on early
0:07
Speaker 1: edition with one roof make your Property search simple, used
0:11
Speaker 1: Talks B.
0:12
Speaker 2: Good morning, It has just gone six after five News
0:14
Speaker 2: Talks D B. The OCI. Yes, we bought the car,
0:17
Speaker 2: but how certain are we about further cups after this one?
0:20
Speaker 2: We'll speak to an economist just before six o'clock. Elon
0:24
Speaker 2: Musk doesn't really like Trump's big beautiful bill. We'll tell
0:27
Speaker 2: you why. Over in Berlin, Merch is getting quite involved
0:32
Speaker 2: with the Ukraine war. He's done a deal with Zelensky
0:34
Speaker 2: on missiles. We've got details. Mitch mccannon's stateside International students
0:39
Speaker 2: here still down forty percent on pre COVID. The ministers
0:42
Speaker 2: on to explain why, and a new supermarket fix that
0:47
Speaker 2: doesn't involve breaking up businesses.
0:51
Speaker 1: The agenda.
0:54
Speaker 2: In Berlin, Frederick Murgs and Vilensky did that deal helping
0:57
Speaker 2: Kiev produce long range missiles to defend itself from Russian attack.
1:01
Speaker 3: We will further increase pressure on Russia in order to
1:06
Speaker 3: weaken the war machinery in Moscow, but we will also
1:10
Speaker 3: do it in order to open up paths towards negotiation.
1:14
Speaker 2: Ober in France, this former French surgeon who sexually abused patients.
1:18
Speaker 2: He gets twenty years. The trial spark outraged it was
1:22
Speaker 2: revealed during proceedings he was allowed to continue to treat
1:27
Speaker 2: children despite a conviction in two thousand and five for
1:30
Speaker 2: downloading pedophile images. I saw no sincerity from him. I
1:34
Speaker 2: just hope he cannot hurt people anymore, but I don't
1:37
Speaker 2: expect him to change. On government and our society are
1:40
Speaker 2: not outraged.
1:41
Speaker 3: The rape of children seems too complicated to acknowledge.
1:45
Speaker 2: Spros the Knights.
1:45
Speaker 4: This exists.
1:47
Speaker 2: Trump's big beautiful bill is too big for Elon Musk.
1:50
Speaker 5: Big beautiful bill, you know, I was like disappointed to
1:55
Speaker 5: see the massive spending bill. Frankly, Press the bunch steps
2:01
Speaker 5: that not. This decrease it and it reminds the work
2:04
Speaker 5: that the Doge team is doing. I think a book
2:06
Speaker 5: can be can be big or it can be beautiful.
2:10
Speaker 5: I don't know if it could be both.
2:12
Speaker 2: He also remember he was going to shave billions off
2:16
Speaker 2: the government budget with Doge and ended up only being
2:18
Speaker 2: a couple one hundred million. Anyway, he's not happy with that.
2:22
Speaker 1: On your radio and online on iHeartRadio Early edition with
2:27
Speaker 1: Ryan Bridge and One Roof make your property search simple.
2:31
Speaker 2: If you talk said, be nine two the number to text.
2:34
Speaker 2: We'd love to hear from you this morning. So Luxon
2:36
Speaker 2: comes out yesterday, big smile on his face. Nicolas there
2:39
Speaker 2: with a nice dress on. We're not meant to talk
2:41
Speaker 2: about her dress, but who really cares, and so he should.
2:45
Speaker 2: He's in government. Interest rates have come down two hundred
2:48
Speaker 2: and twenty five basis points since the peak last year.
2:51
Speaker 2: We're now sitting on three point two five, so close
2:54
Speaker 2: to neutral. In fact, we're so close to neutral now
2:57
Speaker 2: the Bank says they're not really using that term anymore.
2:59
Speaker 2: It's almost obsolete. They don't like it. They're going to
3:02
Speaker 2: quote feel their way. At this point, they're promising a
3:06
Speaker 2: further cut. In fact, their low point is now two
3:09
Speaker 2: point nine percent rather than three point one, which it
3:11
Speaker 2: was under or So this is all great news if
3:14
Speaker 2: you're in a government. It is way more significant for us,
3:19
Speaker 2: way more significant for your average punter than any budget
3:22
Speaker 2: would be. They reckon that since the peak. If you've
3:26
Speaker 2: got a five hundred thousand dollars mortgage, your fortnightly repayments
3:30
Speaker 2: will be cut by three hundred dollars, so you'll have
3:32
Speaker 2: an extra three hundred dollars a fortnight in your back pocket.
3:35
Speaker 2: Didn't get that from the budget, did you? This is
3:37
Speaker 2: the power of monetary policy. Close to half of all
3:41
Speaker 2: mortgage holders are due to fix their loans from June,
3:44
Speaker 2: that is half a million mortgages. Now there is an
3:48
Speaker 2: economic argument going on here. Can Luxon claim victory for this?
3:53
Speaker 2: Does he go into a victory parade, which is basically
3:56
Speaker 2: what he did yesterday with Nikola. Here's what Hawksby's the governor.
4:00
Speaker 2: Hawksby had to say when asked about the impact of
4:03
Speaker 2: the budget on their decision yesterday. Have a listen.
4:07
Speaker 6: We were delighted that the government announced its budget before
4:12
Speaker 6: we met as a Monetary Policy Committee, and that meant
4:15
Speaker 6: that we had all that information in front of us
4:18
Speaker 6: and we could take that as given. It had a
4:21
Speaker 6: very little role to play in terms of the decision
4:25
Speaker 6: we made today relative to previously. There were unders and
4:29
Speaker 6: overs in terms of the impact of the budget. The
4:32
Speaker 6: investment boost scheme providing some support to business investment and
4:37
Speaker 6: that's factored into our projections. But on the other side,
4:40
Speaker 6: some active decisions around reducing government expenditure. They effectively met out.
4:46
Speaker 6: And it remains the same story that government spending as
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Speaker 6: a portion of potential output is looking to be falling
4:55
Speaker 6: through our projection period.
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Speaker 2: So basically that was Christian hawksby Toss neutral and therefore
5:01
Speaker 2: not really relevant to the decision making. But that is
5:04
Speaker 2: not the same thing as saying it had no impact
5:08
Speaker 2: at all. If the government was burrowing to the helt
5:12
Speaker 2: and spending like a drunken sailor, it would have affected things.
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Speaker 2: So by not doing that and focusing on the quality
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Speaker 2: of the spending it has, in a perverse kind of way,
5:21
Speaker 2: had an impact Bread even though Hawksbeak says it didn't.
5:26
Speaker 2: I mean, I guess that the moral of the stories
5:29
Speaker 2: it could have been a lot worse, and then it
5:31
Speaker 2: would have changed the trajectory potentially. Right eleven minutes after
5:34
Speaker 2: five year on News Talks, there b a lot to
5:36
Speaker 2: talk about this morning. There's a new report from the
5:38
Speaker 2: New Zealand Initiative which skirts around the issue of breaking
5:43
Speaker 2: up supermarkets in order to fix the duopoly. And we're
5:47
Speaker 2: talking also to Penny Simmons about these international students still
5:51
Speaker 2: forty percent down on pre COVID. We'll ask why.
5:55
Speaker 1: Bryan Bridge on affill the edition, where's one roof make
5:58
Speaker 1: your property search simple?
6:00
Speaker 2: News Dog zibby news Dog Zibi. It's just gone fourteen
6:03
Speaker 2: after five our foreign student numbers are down. Ministry of
6:06
Speaker 2: Education shows there was a forty percent decrease from the
6:09
Speaker 2: peak in twenty sixteen. Universities rebounding post COVID, but secondary
6:14
Speaker 2: schools and vocational training are lagging. Penny Simmons is the
6:18
Speaker 2: Vocational education minister with me this morning. Minister, Good morning,
6:22
Speaker 2: good morning Ryan. Why are we down forty percent? Still?
6:26
Speaker 7: Tapooking? Tapooking has centralized everything they did, all the marketing centrally.
6:33
Speaker 7: Nobody knew what tapooking was overseas. They required everything to
6:38
Speaker 7: be the same, so whether you were offering courses an
6:41
Speaker 7: in Vcago or Auckland, you had to have the same price.
6:45
Speaker 7: So Auckland numbers have come back a little quicker, but
6:48
Speaker 7: certainly the regions they just haven't come back at all.
6:53
Speaker 7: You couldn't do anything innovative or different. You couldn't do
6:56
Speaker 7: things like having free English for spouse so that they
6:59
Speaker 7: integrate into community. So it just killed off any innovation,
7:05
Speaker 7: anything that was done in the regions to particularly attract
7:08
Speaker 7: international students.
7:09
Speaker 2: So you're saying the first thing you said was that
7:11
Speaker 2: they were advertising as tapooking and no one knew what
7:14
Speaker 2: it was. Do you mean that they didn't go out
7:16
Speaker 2: to the international market and say this is New Zealand.
7:21
Speaker 7: Well they said New Zealand, but they didn't say what
7:24
Speaker 7: the institutions were. So you couldn't go out and market
7:28
Speaker 7: yourself as Nelson Polytechnic, an MIT or Otago Polytechnique. You
7:34
Speaker 7: had to be Tapooking and the new branch of.
7:39
Speaker 2: Is that important because international students would be going and
7:42
Speaker 2: researching those places and saying, oh, this looks good and
7:45
Speaker 2: I can trust that one.
7:48
Speaker 7: Yes. And also they knew the name polytechnic. They know
7:51
Speaker 7: what a polytechnic is, they know what an institute of
7:54
Speaker 7: technology is. They certainly didn't know what a two people
7:57
Speaker 7: what a shambos. Same thing happened in Queensland when they
8:02
Speaker 7: are centralized all their tapes Exactly the same thing happened.
8:06
Speaker 2: So why what are we a year and a half
8:08
Speaker 2: in What what are we currently marketing ourselves as.
8:13
Speaker 7: They are starting to be able to market themselves individually,
8:17
Speaker 7: but it's only just started.
8:19
Speaker 2: Well, what's taken you so long? I mean, fair enough,
8:21
Speaker 2: they bug it it up, But what's taking you so long?
8:25
Speaker 7: Well, we've got the legislation going through the House now
8:29
Speaker 7: to disestablish tape pooking here. But while take pooking is there,
8:33
Speaker 7: I can't instruct them to do anything. Why not because
8:38
Speaker 7: they had their own entity. I don't have the well.
8:41
Speaker 2: Rip them up, push them as.
8:44
Speaker 7: That's exactly what we're doing now, how can.
8:46
Speaker 2: It take I think, look, if this is this is
8:48
Speaker 2: a serious issue on twenty seven, this is worth billions
8:52
Speaker 2: of dollars. We're forty percent down on pre COVID. You've
8:55
Speaker 2: got an institution that's been created by a previous government
8:58
Speaker 2: you've got no control over, and it takes you a
9:01
Speaker 2: year and a half to even dismantle it.
9:04
Speaker 7: Yes, it does because the legislation takes a long time
9:08
Speaker 7: to get risen. It's a really complex bit of legislation.
9:11
Speaker 7: But also because the finances are such a mess, and
9:14
Speaker 7: so we're having to go through and unpick all the
9:18
Speaker 7: financial difficulties. There are some that went in in debt,
9:22
Speaker 7: some went in with reserves, all that got amalgamated. So yeah,
9:26
Speaker 7: it's been a nightmare that we're unpicking it. It will
9:29
Speaker 7: be undone by one January next year.
9:32
Speaker 2: One January we will have be free of tapooking. It
9:35
Speaker 2: and then when and from then universe polytechs can start
9:40
Speaker 2: advertising themselves as who they are.
9:43
Speaker 7: They are starting to now they've got the message to
9:47
Speaker 7: Pooking has got the message. They're starting to, but they've
9:49
Speaker 7: only just been allowed to charge their own fees and
9:53
Speaker 7: that's been a big barrier.
9:54
Speaker 2: Any what is your target date for getting this number
9:59
Speaker 2: back to pre COVID.
10:01
Speaker 7: I think it'll take two years from when we get disestablished.
10:06
Speaker 7: King had disestablished, so I think.
10:08
Speaker 2: It will be come out of years. Eight January twenty
10:12
Speaker 2: twenty eight. We'll have a conversation.
10:13
Speaker 7: Penny, please do I look forward to it.
10:16
Speaker 2: Good to have you on the show, Penny Simmons. Who's
10:18
Speaker 2: the Minister for Vocational and Education? It is eighteen after
10:22
Speaker 2: five year. On news talks, there'd b we'll get to
10:23
Speaker 2: Mitch McCanns Stateside shortly and supermarkets the new plan that
10:27
Speaker 2: doesn't involve dismantling the duopoly. That's next, The news you
10:34
Speaker 2: need this.
10:34
Speaker 1: Morning and the in depth analysis early edition with Ryan
10:38
Speaker 1: Bridge and One Room Make your Property search Simple.
10:42
Speaker 2: News talks they'd be I'll get you some details shortly
10:44
Speaker 2: on the Berlin meeting between Zelensky and Mertz it's quite
10:48
Speaker 2: interesting what they're doing over in America. Marco Rubio's put
10:52
Speaker 2: out a tweet. He's announcing new visa restrictions for foreigners
10:56
Speaker 2: who are quote complicit in censoring Americans. So if you
11:00
Speaker 2: work for a government around the world, look out, it
11:03
Speaker 2: could be coming your way. Foreign officials, it says, and
11:06
Speaker 2: persons who are complicit and censoring Americans. They Americans have
11:11
Speaker 2: been fined, harassed, and even charged by foreign authorities for
11:14
Speaker 2: exercising their free speech rights, and foreigners who undermine those
11:19
Speaker 2: rights should not enjoy the privileges of traveling to our country,
11:23
Speaker 2: says Marco Rubio this morning. He have previously targeted the
11:28
Speaker 2: European Digital Services Act, which we've spoken about before. It's
11:31
Speaker 2: aimed at preventing disinformation. Remember we were going to have
11:34
Speaker 2: one of these. And so the question is should you
11:37
Speaker 2: be able to spread lies on the Internet? And I
11:39
Speaker 2: think yes you should because you can run down the
11:41
Speaker 2: street and lie a liar to your pants are on fire,
11:44
Speaker 2: and that's totally legal. So why shouldn't you be able
11:46
Speaker 2: to do it online? We just need to be smarter
11:47
Speaker 2: about who and what we trust. Twenty one after five,
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Speaker 2: Andy Gillan's Initiative have come up with a plan to
11:55
Speaker 2: bring competition to the grocery sector. They've drafted up a
11:57
Speaker 2: bill for the government. Here you go on a platter.
12:00
Speaker 2: They say that consense and rezoning processes need to be
12:04
Speaker 2: streamlined with a pathway opened up for a third retailer.
12:06
Speaker 2: So Chetwin's the Grocery Action Group with us this morning.
12:09
Speaker 2: So good morning, good morning. What do you make of this.
12:12
Speaker 2: There's no need to bash the heads of these stuopolies.
12:15
Speaker 2: You just actually get government out of the way.
12:19
Speaker 8: Look, I think that this would be nice to have,
12:23
Speaker 8: but you have to recognize that this report would have
12:26
Speaker 8: been put out with the financial support of Willworth food
12:32
Speaker 8: Stuff and Fonterra, who are really big supporters probably of
12:38
Speaker 8: the status quo. So what our problem in New Zealand
12:43
Speaker 8: is is not that we don't have enough land. We
12:47
Speaker 8: have enough supermarkets, but what we have is too few operators.
12:53
Speaker 8: We have too few competitors. And what this government has
12:57
Speaker 8: seen is that we can't get competitor because we're paying
13:02
Speaker 8: the highest price to some of the highest prices in
13:04
Speaker 8: the world because we have a lack of competition. What
13:08
Speaker 8: we need is more competitors and to get more competitors.
13:12
Speaker 7: They probably have to look at.
13:14
Speaker 8: Forcing the existing the incumbents to actually divest some of
13:19
Speaker 8: the stores that they have, because we have plenty of
13:22
Speaker 8: super markets, we just don't have enough operators.
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Speaker 2: You said there's enough land. Whenever anyone tries to build anything,
13:31
Speaker 2: there is opposition. There's I mean there's a labor MP
13:33
Speaker 2: in christ Church is trying to stop a supermarket being built.
13:36
Speaker 2: I interviewed the former managing director of Costco. He said
13:39
Speaker 2: the biggest problem was zoning for land and bringing his
13:44
Speaker 2: supermarket here. So there is a problem, there isn't there.
13:47
Speaker 8: I think, as I said, I think this would be
13:50
Speaker 8: a nice to have, But all the land that would
13:53
Speaker 8: have been useful for supermarkets has in the past being
13:58
Speaker 8: bought by will We've food staffs, food stuffs to stop
14:02
Speaker 8: others competing, and the Commerce Commission has stopped that behavior.
14:09
Speaker 7: They've yeah, so so that man.
14:12
Speaker 2: Is now you think though, so you think this is
14:15
Speaker 2: this report has actually just been bought by the big dogs.
14:20
Speaker 8: Look, I think I think it has. It's to slow
14:24
Speaker 8: down any activity because Nikola Willis has definitely said that
14:29
Speaker 8: she's looking at this and divestment is on the table.
14:35
Speaker 8: They want to stop that happening, because that would encourage
14:38
Speaker 8: real competition. And even within this report they talk about,
14:43
Speaker 8: you know, oh, freeing up land for twelve new players,
14:46
Speaker 8: well twelve new are sorry, twelve twelve new stores. But
14:51
Speaker 8: that's not going to cut the mustard. I mean, thirty
14:53
Speaker 8: new stores wouldn't cut the mustard. Now we're talking about
14:56
Speaker 8: allowing competition to come into this country at scale fast,
15:01
Speaker 8: so that actually means divestment.
15:03
Speaker 2: So appreciate your time responding, stead chetwin Grosser Reaction Group.
15:06
Speaker 2: It is twenty five after five the early.
15:09
Speaker 1: Edition full the Show podcast on iHeartRadio, how It By News.
15:13
Speaker 2: Talks AB News Talks b twenty seven after five another
15:17
Speaker 2: Reserve Bank rate cut. It was largely as expected, twenty
15:20
Speaker 2: five basis points. The rest of the press conference and
15:23
Speaker 2: much of the monetary policy statement that followed was focused
15:27
Speaker 2: on the unpredictable global environment. We can't say this because
15:32
Speaker 2: we don't know what Trump will do. We can't be
15:34
Speaker 2: certain about that because Trump and the trade war, etc.
15:38
Speaker 2: But at what point does unpredictability become predictable and therefore
15:44
Speaker 2: not the great threat that we make it out to be. Yes,
15:47
Speaker 2: Trump went nuts on Liberation Day. The sky fallon. He
15:50
Speaker 2: then calls a ceasefire in May. The markets have recouped
15:53
Speaker 2: all of their losses since then. The end of seas
15:55
Speaker 2: are patchy, but largely back to where they were. Trade
15:58
Speaker 2: talks are ongoing. The IMF yesterday upgraded Britain's growth. US
16:03
Speaker 2: consumer confidence actually increased last month for the first time
16:06
Speaker 2: in five China's industrial growth for April was positive yesterday.
16:11
Speaker 2: Our agricultural experts are doing the business abroad. Trump rants
16:17
Speaker 2: and raves on Twitter. He unannounces stuff as quickly as
16:21
Speaker 2: he announces stuff. He's impulsive, he's emotionally reactive, vindictive. He's
16:27
Speaker 2: a weather vein, the political equivalent of Katy Perry. Because
16:31
Speaker 2: he's hot, then he's cold. He's in, then he's out.
16:36
Speaker 2: He's up, then he's down. He's wrong when it's right,
16:40
Speaker 2: he's black when it's white. You get where I'm going
16:43
Speaker 2: with this. The point is we know this about him.
16:46
Speaker 2: We know he's unpredictable, and that makes his unpredictability predictable.
16:52
Speaker 2: I reckon we aren't taking his threats as seriously as
16:55
Speaker 2: we were two months ago. Not the US consumer, not
16:59
Speaker 2: Chinese industry, not US and you know who else should
17:03
Speaker 2: stop paying him so much, damn attention the Reserve Bank.
17:08
Speaker 2: Ryan Bridge shows B twenty nine.
17:10
Speaker 5: After Folk.
17:16
Speaker 2: My Flint be I See if you live There. Lots
17:20
Speaker 2: of texts about the OCR and also Penny Simmons the
17:24
Speaker 2: interview we just had with the vacation minister. We'll get
17:26
Speaker 2: to that after the break. Our reporters and Mitch mccannon
17:29
Speaker 2: State Side US Talk set B, the.
17:48
Speaker 1: First Word on the News of the Day Early edition
17:52
Speaker 1: with Ryan Bridge, and one roof Make Your Property Search
17:56
Speaker 1: Symbol News Talk PY.
18:06
Speaker 7: Good Morning, twenty.
18:07
Speaker 2: Four away from six News Talk SAVV. Welcome to your
18:10
Speaker 2: Thursday morning. Mitch McCann is in the state for US.
18:13
Speaker 2: Donald Trump's just done a press conference, spoken about Russia
18:16
Speaker 2: and a bunch of other stuff. We'll talk to him.
18:17
Speaker 2: Nick Tuffley from ASB on the OCR announcement yesterday and
18:21
Speaker 2: just how low the rates might go? Is now the
18:24
Speaker 2: time to lock him that sort of stuff. Lots of
18:26
Speaker 2: text on Penny Simmons, the minister on the program a
18:28
Speaker 2: short time ago. She's the vocational education Minister. We're still
18:33
Speaker 2: forty percent down on our international student numbers. The universities
18:37
Speaker 2: have bounced back somewhat, but it's your secondary school and
18:42
Speaker 2: your vocational education. We're still way behind on pre COVID.
18:46
Speaker 2: And she said it was to poo Kinger, she said
18:49
Speaker 2: it was quite incredible to listen to. Actually, she said
18:51
Speaker 2: to poo Kinger comes along, this is the is and
18:54
Speaker 2: points out Ryan, remember who set to pooking her up?
18:56
Speaker 2: It was Hapkins sets that up, this big overarching agency.
19:01
Speaker 2: They go out to market to international students with the
19:04
Speaker 2: name to Pookinger, and you can't market your individual polytech
19:08
Speaker 2: to these students. So they're going, what the hell is
19:11
Speaker 2: to Pookinger? And where do I google that? And where
19:14
Speaker 2: is its credentials? And how do I That makes no
19:17
Speaker 2: sense to me. If you've got a brand, if you're
19:19
Speaker 2: a polytech and into cargo, you've got a good brand,
19:21
Speaker 2: You've been doing it for a long time. Taking away
19:24
Speaker 2: your right to market yourself makes no sense. And anyway,
19:27
Speaker 2: the numbers reflect this, Ryan, was that Penny on a
19:29
Speaker 2: few seconds ago. She speaks a lot of sense, as
19:32
Speaker 2: does the woman about the supermarket. Sue Chapman was on
19:34
Speaker 2: about supermarkets this morning. Two smart women on the show. Yeah,
19:40
Speaker 2: and it happens, It happens often. We're about to hear
19:42
Speaker 2: from Neva she's a smart woman on the show.
19:46
Speaker 8: Right.
19:47
Speaker 2: It is twenty two minutes away from six Crayon Bridge.
19:50
Speaker 2: Get to our reporters around the country, Color Procter and
19:52
Speaker 2: Tonedin Good Morning. Want to write a big celebration for
19:56
Speaker 2: Otago Med School.
19:58
Speaker 7: Yes, it's so.
19:59
Speaker 9: One hundred and fifty celebrations from today and the commemorations
20:04
Speaker 9: are well underway. They are on through until Sunday to
20:07
Speaker 9: celebrate alumni, past and presence staff and also current students.
20:11
Speaker 9: The organizers say they'll be honoring a century and a
20:13
Speaker 9: half of clinical training, research and innovation across the schools
20:18
Speaker 9: Duned and christ Church and Wellington campuses. The University Vice
20:22
Speaker 9: Chancelly here Grunt Robertson says this is a wonderful opportunity
20:25
Speaker 9: to acknowledge the ways in which the school continues to
20:27
Speaker 9: be influential.
20:29
Speaker 2: There's a full weekend program.
20:30
Speaker 9: There's tours of the school, lighthearted medical review show and
20:34
Speaker 9: also a big Garla dinner.
20:36
Speaker 2: Sounds lovely, expensive but lovely. How's the weather, Color Well,
20:41
Speaker 2: not good for the start of the celebrations. Occasional rain today, southerly,
20:44
Speaker 2: strong at times a high of just eleven. Claire Sherwood
20:47
Speaker 2: and christ Church, High Claire. Good morning now, big boost
20:50
Speaker 2: for Canterbury schools from the government indeed, and a.
20:54
Speaker 10: Warm reception to that one hundred and sixty one million
20:57
Speaker 10: dollar boost. This money will go towards one hundred and
21:00
Speaker 10: fifteen new classrooms three brand new schools. More than half
21:04
Speaker 10: of it is specifically set aside for the Salwyn region,
21:07
Speaker 10: which we talk about all the time. It's New Zealand's
21:09
Speaker 10: fastest growing district. That will include a new school in
21:12
Speaker 10: Lincoln as well as land earmarked.
21:14
Speaker 4: For at school in Prebleton.
21:15
Speaker 10: There will also be fifty two classrooms at Salwyn's existing schools.
21:20
Speaker 10: The rest of the fifty three million will go to
21:22
Speaker 10: fifty one classrooms, including a new school in wider Canterbury,
21:26
Speaker 10: so as far north as Sefton as far south as Hines.
21:29
Speaker 10: The Lincoln Primary School principal Chris Nord says, although the
21:32
Speaker 10: Ministry has been very slow to react with this, this
21:35
Speaker 10: is game changing for the community as the new classrooms
21:38
Speaker 10: will provide better teaching and learning spaces. This will add
21:41
Speaker 10: space for almost two and a half thousand more students.
21:44
Speaker 2: Oh cool, how's your weather?
21:47
Speaker 11: Cloudy today?
21:47
Speaker 10: But if showers about this morning northeasterly is turning northwest
21:51
Speaker 10: and twelve degrees.
21:52
Speaker 2: Thank you clear Max, good morning, good morning. And counselors
21:55
Speaker 2: are fed up with licensing rules in Wellington.
21:58
Speaker 12: Yeah, if you've been trying to open a bar in
22:00
Speaker 12: Wellington the past few years, good luck to you, because
22:02
Speaker 12: at every step of the way you've had difficulty with
22:04
Speaker 12: the council. It's licensing committee police. This latest new bar
22:08
Speaker 12: that's trying to open isn't even on Courtney Place. It's
22:11
Speaker 12: a flash new craft beer bar that's trying to open
22:14
Speaker 12: in Candala, the Tesla driving Lata sipping multimillion dollar mansion
22:18
Speaker 12: Candala that says above the harbor. Dian Calvert's a councilor
22:22
Speaker 12: started this campaign. She's got virtually the whole council on board.
22:25
Speaker 12: They all agree it's getting ridiculous. This place is ready
22:28
Speaker 12: to open, but the Council's committee is pausing its license
22:32
Speaker 12: for a month because, surprise, surprise, a residence association is
22:36
Speaker 12: kicking up a fuss. Calvert wants modern rules clarity on
22:39
Speaker 12: licensing clarity from these groups that purport to speak for
22:42
Speaker 12: their suburbs, because most of the feedback on social media
22:45
Speaker 12: has been pro this flash new bar opening up.
22:48
Speaker 2: Yeah, this is the problem with when you get when
22:50
Speaker 2: it comes to making a formal submission to council. Real
22:53
Speaker 2: people are busy and can't be effed. It's they're just
22:58
Speaker 2: basically what works, we're anyway? How's you wear the mats?
23:02
Speaker 12: What's rain strengthening today?
23:05
Speaker 7: Sixteen?
23:05
Speaker 12: The high Central?
23:06
Speaker 7: Thank you?
23:06
Speaker 2: What's the worst that could happen? Anyway? And coupla. These
23:09
Speaker 2: wealthy women and their tesla's have a few chardonnais and
23:12
Speaker 2: crashing on the way home.
23:15
Speaker 11: It's not that bad as that I can ever get
23:17
Speaker 11: into those teslas, you know when they have them in
23:19
Speaker 11: the uber tunes up.
23:19
Speaker 12: Like who's the handle?
23:21
Speaker 11: And some of them they're up the top and there.
23:23
Speaker 11: Some of them are at the bottom and confusing, and
23:26
Speaker 11: the uba drivers always looking at me like, yes, stupid woman.
23:29
Speaker 2: Are and we can't give it. It's actually scarier trying
23:33
Speaker 2: to get out because you think, oh are they keeping me?
23:37
Speaker 2: Have I been kidnapped? And I didn't know anyway? Hey,
23:40
Speaker 2: big night for Lord fans in Auckland Central last night.
23:43
Speaker 11: This was so cool. So she was holding the surprise
23:48
Speaker 11: pop up gig in a bathroom. It was a women's bathroom,
23:50
Speaker 11: as well, but I think men were able to go
23:52
Speaker 11: in there. So it was, you know, this impromptuy concert.
23:56
Speaker 11: They were gathering just outside the YMCA, just off Vincent Street,
23:59
Speaker 11: just up the road from here. So thirty people were
24:02
Speaker 11: let in at a time for a fifteen minute private
24:05
Speaker 11: gig was Lord in this bathroom, imagine that. And this
24:08
Speaker 11: was all part of her, you know, her new album,
24:11
Speaker 11: The Preview of Virgin. So she was holding this and
24:14
Speaker 11: we see.
24:15
Speaker 2: That weird, isn't that?
24:16
Speaker 11: Well, it is a bit, but I suppose it's just
24:18
Speaker 11: that young funkiness of let's do something, do.
24:21
Speaker 2: Something different, cool scavenger, haven't find me in the city somewhere.
24:25
Speaker 11: I was just thinking of bathroom. I hope it was
24:26
Speaker 11: a clean bathroom. Imagine.
24:28
Speaker 2: Well my first thought was the last time it popstar
24:31
Speaker 2: went in the bathroom, they got in a bit of trouble.
24:33
Speaker 2: Remember George Michael.
24:34
Speaker 9: Oh, that's right.
24:35
Speaker 11: I was a huge fan of George Michael.
24:38
Speaker 8: That's right.
24:40
Speaker 2: Careful. How's the weather?
24:42
Speaker 11: Scattered morning showers, rain, heavy at times, squady thunderstorms, hail possible,
24:47
Speaker 11: stay home and exactly nineteen is the high.
24:51
Speaker 2: Thank you so much, seventeen to six news Talk, said
24:55
Speaker 2: b we'll get to our economists just before six o'clock
24:57
Speaker 2: on the OCI and Mitch McCanns stateside.
24:59
Speaker 1: Next, International correspondence with Ends and Eye Insurance, Peace of
25:04
Speaker 1: mind for New Zealand business production.
25:07
Speaker 2: Just talks, did be Nick Toughley on the OICR next
25:09
Speaker 2: right now, Mitch mccannon state side for US much Good morning, Ryan,
25:13
Speaker 2: good morning, how are you good? Thank you? Now I
25:15
Speaker 2: see what Marco Rubio has been up to with visa
25:18
Speaker 2: and holting student visas. What's the latest on this? Yeah,
25:21
Speaker 2: this is right.
25:22
Speaker 13: The Trump administration has ordered embassies around the world to
25:25
Speaker 13: stop scheduling new appointments for people that want to come
25:28
Speaker 13: to the US on student visas for a time now.
25:31
Speaker 13: The reason it's pausing this, it says, according to a memo,
25:34
Speaker 13: is because it wants to expand social media vetting to
25:38
Speaker 13: making sure that the people that come to the United
25:40
Speaker 13: States on student visas are the sort of people they want.
25:43
Speaker 13: They're going to go through social media accounts, making sure
25:45
Speaker 13: there's no anti Semitism and all this sort of thing. Now,
25:49
Speaker 13: this is part of the Trump administrations are crackdown on
25:52
Speaker 13: US universities. In recent days, it has tried to stop
25:55
Speaker 13: Harvard enrolling foreign students altogether. Now, this is critical for
25:59
Speaker 13: a number of these institutions because it's a big.
26:01
Speaker 2: Way that a lot of them make money. Fascinating. I
26:05
Speaker 2: wonder whether because they're not doing this with tourists, right,
26:08
Speaker 2: they're not being as hardcore, but they do look on
26:10
Speaker 2: you if you get to the border that sometimes they
26:12
Speaker 2: look you up. But I wonder whether someone like the
26:15
Speaker 2: you know from the Green Party here very vocal about Gars,
26:17
Speaker 2: that are very vocal about Israel, whether they would get
26:20
Speaker 2: into the States these days. Well here, I do wonder that.
26:24
Speaker 13: I mean, at this stage it is only student visas,
26:26
Speaker 13: but some of the people that have been picked up
26:27
Speaker 13: by the State Department, you know, people on university campuses
26:31
Speaker 13: who have been arrested. Some of them haven't directly even
26:34
Speaker 13: been involved in some of the protests. Some of them
26:36
Speaker 13: have just written things online quite simply. So, Yeah, that
26:39
Speaker 13: is a fair argument. There would be some people coming
26:42
Speaker 13: into the country are pretty nervous about actually being allowed in.
26:45
Speaker 2: Hey, Musk is not happy with the big Well he
26:48
Speaker 2: likes the beautiful part, but not the big part of.
26:50
Speaker 7: The beautiful bill.
26:53
Speaker 13: Yeah, that's right, he says, you can't have big and beautiful.
26:56
Speaker 13: You can maybe have one not the other. This is
26:58
Speaker 13: the bill from Donald Trump where he's going to bring
27:01
Speaker 13: in tax cuts, more border spending. He's going to start
27:03
Speaker 13: a child savings account for American children, which he's actually
27:07
Speaker 13: called the Trump Accounts. But Elon Musk says he's disappointed
27:10
Speaker 13: to see this spending bill because it's going to increase
27:14
Speaker 13: the deficit. Of course, Elon Musk came in with doze
27:16
Speaker 13: this Department of Government efficiency to try and reduce our
27:19
Speaker 13: government debt.
27:20
Speaker 2: But this bill is going to do the exact opposite.
27:22
Speaker 13: It's thought it could add six hundred billion US dollars
27:26
Speaker 13: every year to the federal deficit.
27:28
Speaker 2: Mitch, thank you. Mitch mcan our US correspondent with US
27:31
Speaker 2: this morning. It is twelve minutes away from.
27:32
Speaker 1: Six Bryan Breds.
27:34
Speaker 2: So we've got another OCI cut down twenty five points
27:37
Speaker 2: to three point twenty five uncertainty again, Rain's Supreme. They
27:40
Speaker 2: reckon we'll get another cut at their next meeting, but
27:43
Speaker 2: there's a bunch of caveats to that. Inflation will hit
27:45
Speaker 2: two point seven percent nearly out of range, then come
27:48
Speaker 2: down to two percent next year. Nick Tuffley, chief Economist,
27:51
Speaker 2: Today's be backed with me this morning, Neck, good morning morning.
27:54
Speaker 2: Does the fact that they had to vote on this
27:56
Speaker 2: one make it more or less hopeful that they will
28:00
Speaker 2: do a cut next time?
28:02
Speaker 14: Look, it is really a reflection of just how much
28:05
Speaker 14: uncertainty there is out there. And the member of the
28:09
Speaker 14: committee that voted to keep things on hold just really
28:12
Speaker 14: wanted more time to see how some of the inflation
28:15
Speaker 14: risks pan out. And of course the big one is
28:17
Speaker 14: what Donald Trump is doing with the tariffs and just
28:20
Speaker 14: how that will impact inflation in New Zealand. I think
28:24
Speaker 14: we'll still get another cut next month. We still think
28:27
Speaker 14: we'll get two more in fact, but there's still that
28:29
Speaker 14: uncertainty about just how far the Reserve Bank will go,
28:32
Speaker 14: and also when it's almost possible that we'll pause at
28:35
Speaker 14: some point.
28:37
Speaker 2: The Trump uncertainty thing, the only certain thing about him
28:41
Speaker 2: is that he is uncertain. Does that not take some
28:44
Speaker 2: of the unpredictability of it out of the equation?
28:47
Speaker 14: Well, the challenge is that when you have an uncertain environment,
28:51
Speaker 14: you get people who don't make decisions, and that also
28:54
Speaker 14: flows through and potentially weakens the economy. For the Reserve Bank,
28:58
Speaker 14: where they seem to have been debating, there's global growth
29:01
Speaker 14: will slow. What will that do to inflation? Is it
29:03
Speaker 14: going to be a bit like a supply shop or
29:06
Speaker 14: a cost shop where it just gets more expensive to
29:08
Speaker 14: make stuff around the world, or is the dominating fact
29:11
Speaker 14: going to be people stop buying things, you get weaker demand,
29:16
Speaker 14: you get slow exports from New Zealand, and less inflation pressure.
29:20
Speaker 14: So they've assumed that's what's going to happen. But they
29:22
Speaker 14: are in two minds and that's where the internal debate
29:26
Speaker 14: seem to have been for this meeting.
29:28
Speaker 2: And then you look at consumer confidence bouncing back in
29:31
Speaker 2: the US, you look at some of that Chinese industrial
29:34
Speaker 2: profit number, you look at a whole bunch of stuff.
29:36
Speaker 2: I mean, it's not actually doom and gloom, is it.
29:41
Speaker 14: Look it's not overall. I think with the brink being
29:46
Speaker 14: sort of pulled back from particularly around China and the US,
29:49
Speaker 14: you are getting some of the lurching from a sort
29:52
Speaker 14: of almost a freeze on some trade and manufacturing to
29:55
Speaker 14: it's starting to turn around. But look, even that is
29:58
Speaker 14: doing some damage in the term. And the reality is
30:02
Speaker 14: is that when you look at the US consumers there
30:05
Speaker 14: will have slightly this money to go around. In China,
30:08
Speaker 14: there's going to be slightly this manufacturing activity. There will
30:10
Speaker 14: be ripple effects coming through, but no, not the end
30:13
Speaker 14: of the world, but it is in our view likely
30:15
Speaker 14: to dampen in place when you're looking a year or
30:17
Speaker 14: two out.
30:18
Speaker 2: They spoke about, you know, the three percent neutral rate,
30:22
Speaker 2: and there was people asking at the press conference, you know,
30:24
Speaker 2: do you go lower so that you start reaving things up?
30:28
Speaker 2: And they say, basically, we don't like that word anymore.
30:30
Speaker 2: It's a little bit obsolete because we're so close to neutral.
30:33
Speaker 2: We're going to start using quote feel our way. What's
30:36
Speaker 2: that about?
30:37
Speaker 14: Well, I think that's reality is like neutral, some concept
30:40
Speaker 14: where you can never really see it, and they see
30:42
Speaker 14: it somewhere between two and a half and three and
30:44
Speaker 14: a half, so they're kind of in that territory at
30:46
Speaker 14: the moment. It's kind of like trying to engineer a
30:48
Speaker 14: landing in the fog. You kind of have to sort
30:51
Speaker 14: of almost sort of wait until you feel a bit
30:53
Speaker 14: of rumbling from the ground coming through. Where we are
30:56
Speaker 14: at the moment, you can see there's a bit of
30:58
Speaker 14: a lag in the impact of interest rates coming through.
31:01
Speaker 14: That's pretty clear, and that's always there. But it does
31:05
Speaker 14: look like with the economy just taking a little bit
31:08
Speaker 14: of time for that's a domestic spending to get going that.
31:10
Speaker 14: We still need interest rates to go with.
31:12
Speaker 2: Them yet, Yeah, but not too low because they don't
31:15
Speaker 2: want to overcook things the other way right, And there's
31:17
Speaker 2: a time leg as you say.
31:20
Speaker 14: Yep, there's always the art and you're doing it where
31:23
Speaker 14: it takes two years for what you do to hear
31:25
Speaker 14: it's full effect as well, so it's not easy.
31:27
Speaker 2: Appreciate your time, Nick Nick touughly A'sbchief Economists eight to
31:30
Speaker 2: six Newstalk ZB.
31:33
Speaker 1: Get ahead of the headlines on early edition with Ryan
31:37
Speaker 1: Bridge and one roof Make your Property Search Simple News
31:41
Speaker 1: Talk ZEDB.
31:42
Speaker 2: Good morning, Ryan, the Napier topel road's just gone back
31:44
Speaker 2: to one hundred ks up from eighty. Yay, it's just happened.
31:47
Speaker 2: Very happy, good for you. Six away from six mics here.
31:50
Speaker 2: Good morning, Mike, good morning. Have you seen this New
31:53
Speaker 2: Zealand Initiative supermarket report? Also, so what Sue Chepman says,
31:58
Speaker 2: this has just been paid for by the super markets
32:00
Speaker 2: who don't want to be broken up.
32:02
Speaker 4: Oh no, no, no, you don't want to believe what
32:03
Speaker 4: Seu says. If you read the report, what they're arguing.
32:07
Speaker 4: I think they're wrong. I think they're wrong. But what
32:09
Speaker 4: they're arguing is that you let the market speak for
32:13
Speaker 4: itself and.
32:14
Speaker 2: Get the government out of the way.
32:15
Speaker 4: But get the government out of the way, but allow
32:18
Speaker 4: through regulation the ability for people who want to come
32:20
Speaker 4: in to come in. Now, what I don't understand about
32:22
Speaker 4: what they're saying, and what's unfair about it because their
32:24
Speaker 4: free market thinkers, yes, is that under their new rules
32:27
Speaker 4: and regulations, the current players can't participate. So you lock
32:31
Speaker 4: the current players out while allowing allegedly all these people
32:35
Speaker 4: around the world who just can't wait to get into
32:37
Speaker 4: the country access to the marketplace.
32:39
Speaker 2: Yeah, but a lot of it is to do with
32:41
Speaker 2: ther overseas investment approvals and the like, which these companies
32:45
Speaker 2: who are here don't need.
32:46
Speaker 4: No, indeed they not. But what they're saying is you
32:49
Speaker 4: can't log I mean, what you could argue is is
32:51
Speaker 4: as the market changes and all these new people arrive
32:54
Speaker 4: into the marketplace. This is where I think they're wrong.
32:56
Speaker 4: I don't think anyone's coming into the country. I mean,
32:58
Speaker 4: if you think there's a gap in the market, it
33:00
Speaker 4: and your costco or ELD, who you take it you've
33:03
Speaker 4: worked this threat.
33:04
Speaker 2: I interviewed that the former managing director of Costco a
33:06
Speaker 2: few months ago, and he said the biggest problem for
33:09
Speaker 2: them was zoning of the land that they normally Costco
33:12
Speaker 2: built up and they came here and that built their
33:15
Speaker 2: first flat shop.
33:16
Speaker 4: The only thing that makes sense in that report is
33:19
Speaker 4: that what they're arguing is for consent purposes. You go
33:22
Speaker 4: consented as a package, so you go, Hi, I'm Costco.
33:25
Speaker 4: I want thirty seven supermarkets on thirty seven bits of
33:28
Speaker 4: land all over the country. So you deal with it
33:31
Speaker 4: in a one stop shop where it is being do
33:33
Speaker 4: it all at once.
33:34
Speaker 2: That makes it so. That does make sense.
33:35
Speaker 4: But my argument has always been there aren't that there's
33:39
Speaker 4: only five million of us, This idea that somehow where
33:42
Speaker 4: Europe and the whole world is waiting to come in.
33:44
Speaker 2: It's like why Hecky Island saying that that's US compared
33:48
Speaker 2: to the restaurant.
33:48
Speaker 4: Worldstly, and that's the bit I think the report this
33:51
Speaker 4: is anyway, Prime Minister's in this morning because he's better
33:54
Speaker 4: and Christian Hawksby's in this morning, so some interesting questions
33:57
Speaker 4: for him.
33:59
Speaker 2: All right for a look forward to where do you shop? Barrow?
34:03
Speaker 2: I was in Faroh yesterday, actually picked what did you
34:05
Speaker 2: do there? What did you get? I've got a little
34:07
Speaker 2: Vietnamese summer role.
34:10
Speaker 14: Love.
34:10
Speaker 4: Do you realize what that sounds like when you say
34:12
Speaker 4: stuff like that. No, I was at Faroh yesterday and
34:14
Speaker 4: I got a lovely little Vietna It was.
34:17
Speaker 2: An exception to the role. That's why I'm telling the story.
34:20
Speaker 4: What do you normally buy something?
34:22
Speaker 2: Countdown with a half a Chicken hot truck.
34:28
Speaker 1: For more from Early Edition with Ryan Bridge. Listen live
34:31
Speaker 1: to news talks. It'd be from five am weekdays, or
34:34
Speaker 1: follow the podcast on iHeartRadio.