Latest / Early Edition with Ryan Bridge / Full Show Podcast: 23 September 2026

Transcript

Full Show Podcast: 23 September 2026 · Early Edition with Ryan Bridge

• 0:00
  Speaker 1: The issues, the interviews and the insight. Ryan Fridge on
• 0:05
  Speaker 1: Early Edition with Spark for Business. Technology that keeps business moving.
• 0:09
  Speaker 1: Newstalk ZB.
• 0:11
  Speaker 2: Good morning. Welcome to Wednesday, six after five. We'll look
• 0:13
  Speaker 2: at the COVID Reserve Bank blunder. This report out yesterday,
• 0:17
  Speaker 2: Nick Mowbray, along with 49 other business leaders, got a
• 0:20
  Speaker 2: warning about the election for you this morning. What are
• 0:23
  Speaker 2: your chances of getting hurt at work? We'll look at
• 0:25
  Speaker 2: a new report and some good news on the East-West pipeline,
• 0:28
  Speaker 2: the Saudis operate and the price of oil all ahead.
• 0:33
  Speaker 2: It is Wednesday, the 23rd of September. Trump's come in
• 0:36
  Speaker 2: pretty hot at the United Nations General Assembly in New York,
• 0:39
  Speaker 2: making more threats.
• 0:41
  Speaker 3: Will a deal be made with Iran that lets them
• 0:45
  Speaker 3: rebuild and create a far greater country than it ever
• 0:49
  Speaker 3: was before? maybe one of the greatest in the Middle
• 0:53
  Speaker 3: East or even the world? Or do I annihilate the
• 0:57
  Speaker 3: Islamic Republic and do it quickly, never giving them a
• 1:00
  Speaker 3: chance to kill and destroy people and countries again?
• 1:05
  Speaker 2: Now, probably his best work was rebranding AI. A much more.
• 1:09
  Speaker 3: Accurate term, super, as opposed to artificial. So it's superintelligence.
• 1:17
  Speaker 3: In other words, welcome to the new world of superintelligence-SI.
• 1:24
  Speaker 2: Anyway, he's meeting with Andy Burnham right now. We'll keep
• 1:26
  Speaker 2: you across the latest there. Meanwhile, the US has signed
• 1:28
  Speaker 2: this Denmark-Greenland deal. What exactly is different about it? Well,
• 1:33
  Speaker 2: there'll be a few more American troops there, a few
• 1:36
  Speaker 2: more US allies present in the Arctic.
• 1:38
  Speaker 4: We are truly pleased with the result that strengthened our
• 1:41
  Speaker 4: shared security and strengthened our bond as close allies. This
• 1:45
  Speaker 4: agreement is historical. It is about taking shared responsibility for
• 1:49
  Speaker 4: a secure America, a secure Greenland, with mutual respect and
• 1:54
  Speaker 4: a peaceful Arctic. This is a win-win-win agreement.
• 1:58
  Speaker 3: Okay.
• 1:59
  Speaker 2: Another twist in the old Spencer Diana memoir, now Piers
• 2:02
  Speaker 2: Morgan's threatening legal action. Spencer's had to apologize, say sorry
• 2:06
  Speaker 2: for an error in the book. that claimed Morgan was
• 2:09
  Speaker 2: behind hidden camera photos of Diana, who was wearing a
• 2:12
  Speaker 2: leotard working out at a gym, turns out not true.
• 2:15
  Speaker 5: Piers Morgan has since come out and said, well, hang on,
• 2:18
  Speaker 5: I didn't join the Mirror until 1995. I was at
• 2:22
  Speaker 5: a rival newspaper, the News of the World, in 1993.
• 2:26
  Speaker 5: There is no way you can put my name against
• 2:28
  Speaker 5: anything to do with that allegation.
• 2:33
  Speaker 1: The first word on the news of the day. Early
• 2:36
  Speaker 1: Edition with Ryan Bridge and Spark for Business. Technology that
• 2:40
  Speaker 1: keeps business moving.
• 2:42
  Speaker 2: News Talk ZB. Nine after five, Brooke Van Velden signed
• 2:44
  Speaker 2: off from the job, signed off from Parliament. She had
• 2:47
  Speaker 2: a valedictory in the House last night. I'm going to
• 2:49
  Speaker 2: play you a bit of audio from what she had
• 2:51
  Speaker 2: to say. She's basically saying it's a dark bureaucracy that's
• 2:55
  Speaker 2: running Wellington and she can't wait to just hightail it
• 2:59
  Speaker 2: out of there, get the hell out of Dodge. Here's
• 3:01
  Speaker 2: a bit of what she had to say about the
• 3:03
  Speaker 2: Public Service Commission. This is the one run by Sir
• 3:06
  Speaker 2: Brian Roche.
• 3:07
  Speaker 6: The Public Service Commission should be abolished. It does not
• 3:11
  Speaker 6: work for the public and it does not work for
• 3:14
  Speaker 6: elected governments. It works for the public service to preserve
• 3:18
  Speaker 6: the status quo, enable public servants to shuffle between agencies
• 3:22
  Speaker 6: while leaving the failures of their roles behind with no
• 3:26
  Speaker 6: accountability or meaningful consequences.
• 3:30
  Speaker 4: Ministers.
• 3:31
  Speaker 6: should hire chief executives directly and be responsible for their agency.
• 3:37
  Speaker 2: Now, case in point, exhibit A of what Brooke is
• 3:40
  Speaker 2: talking about in her valedictory speech is the case of
• 3:43
  Speaker 2: Kerry Gregory. This is the boss of Fens that she
• 3:46
  Speaker 2: has said over a week ago, well, earlier this week,
• 3:51
  Speaker 2: that she thinks he's lost confidence in him. She has
• 3:55
  Speaker 2: lost confidence in him. He's made a big boo-boo. and
• 3:59
  Speaker 2: has been sitting on information for a year. That means
• 4:02
  Speaker 2: she thinks basically he shouldn't be in the job. Now
• 4:06
  Speaker 2: I spoke to her yesterday about this and he is
• 4:09
  Speaker 2: currently overseas. I mentioned this at the time. So he's
• 4:12
  Speaker 2: overseas visiting a conference and then on a month's leave
• 4:17
  Speaker 2: while she has lost confidence in him. Have a listen.
• 4:20
  Speaker 7: The last I.
• 4:21
  Speaker 6: Spoke to him, he was over in London attending the
• 4:23
  Speaker 6: fire conference and was taking a month of planned leave. Um,
• 4:27
  Speaker 6: I would expect potentially he might want to come home.
• 4:32
  Speaker 2: You would think so, wouldn't you? So what's he done?
• 4:34
  Speaker 6: He was aware that fire and emergency had breached their
• 4:37
  Speaker 6: own law over a year ago and decided not to
• 4:40
  Speaker 6: disclose it to me at that time.
• 4:42
  Speaker 2: So that's pretty serious. Now, the problem is Brooke can't
• 4:45
  Speaker 2: fire him. Brooke is the minister. He is the chief executive.
• 4:49
  Speaker 2: She can't fire him. All she can do, the most
• 4:53
  Speaker 2: she can do, is express no confidence in him, which
• 4:56
  Speaker 2: she has done. And then she has phoned him and
• 4:59
  Speaker 2: he is not, normally they roll over and resign. This
• 5:01
  Speaker 2: guy's not doing that. He's in London or whatever. He's
• 5:04
  Speaker 2: on holiday in Europe. I don't know. She doesn't know either.
• 5:07
  Speaker 2: The point is he's not here resigning, which is what
• 5:10
  Speaker 2: would normally happen. So to Brooke's point in her valedictory,
• 5:15
  Speaker 2: where's the public service commission? What are they doing? Are
• 5:18
  Speaker 2: they tits on a bull? Because the guy, if what
• 5:21
  Speaker 2: she's saying is true, then the guy should surely be gone. No,
• 5:23
  Speaker 2: 11 after five. So the Business Leaders Health and Safety Forum,
• 5:29
  Speaker 2: this was a group set up by John Key, and
• 5:32
  Speaker 2: they've come out with a new report about injury claims
• 5:34
  Speaker 2: over the past 10 years. So if you go to
• 5:36
  Speaker 2: work every day, in which industry are you more likely
• 5:39
  Speaker 2: to be injured? In which industry are you more likely
• 5:42
  Speaker 2: to be harmed? And how do we compare with the
• 5:43
  Speaker 2: rest of the world? That's next, Newstalk ZB.
• 5:53
  Speaker 1: News and views you trust to start your day. It's
• 5:56
  Speaker 1: early edition with Ryan Bridge and Spark for Business. Technology
• 6:01
  Speaker 1: that keeps business moving.
• 6:02
  Speaker 2: Newstalk ZB. 5.14 Newstalk ZB. The Saudis have announced they
• 6:06
  Speaker 2: will reopen the SOS pipeline by the end of the week.
• 6:09
  Speaker 2: So the patch-up job, the fix-up job, was much quicker
• 6:12
  Speaker 2: than what they had expected it might be. It shuts
• 6:15
  Speaker 2: on September the 11th, which is when the drone attacks
• 6:18
  Speaker 2: came from the Houthis. This is the one that pumps
• 6:21
  Speaker 2: the crude across from the Saudi Peninsula to Yanbu. That's
• 6:25
  Speaker 2: the Red Sea. So it gets you from Asia through
• 6:27
  Speaker 2: to Europe and bypasses the Strait of Hormuz. Crucially, oil
• 6:32
  Speaker 2: down 2% on the news overnight. Workplace harm going down.
• 6:37
  Speaker 2: The annual state of the thriving nation report says workplace
• 6:40
  Speaker 2: harm cost $ 5. 5 billion last year. Injury work claims down 28%
• 6:44
  Speaker 2: over the past decade. You are still 1.4 times more
• 6:48
  Speaker 2: likely to die at work than you are in Australia,
• 6:50
  Speaker 2: 3.4 times more likely than in Great Britain. Francois Barton,
• 6:54
  Speaker 2: the Business Leaders Health and Safety Forum Chief Executive with
• 6:56
  Speaker 2: me this morning. Francois, good morning.
• 6:58
  Speaker 8: Good morning, Ryan.
• 6:59
  Speaker 2: With the death thing, is that because of forestry and
• 7:02
  Speaker 2: our roads? What's the difference there?
• 7:05
  Speaker 8: In terms of with UK and Australia?
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  Speaker 3: Yeah.
• 7:08
  Speaker 9: Yeah, look, I mean, I think.
• 7:10
  Speaker 8: In short, it's more expensive in those countries when we
• 7:14
  Speaker 8: get safety wrong in Great Britain and Australia. There are
• 7:18
  Speaker 8: much clearer signals, I think, to businesses and workers alike
• 7:22
  Speaker 8: from the regulatory system. The insurance system is obviously different.
• 7:26
  Speaker 8: It's sort of industrial makeup over there. So it can
• 7:29
  Speaker 8: sound a little brutal, but in essence, it's cheaper to
• 7:32
  Speaker 8: injure and hurt people in New Zealand than some of
• 7:34
  Speaker 8: these other countries. But more importantly, there's also more work
• 7:38
  Speaker 8: being done in a lot of these places, I think,
• 7:39
  Speaker 8: on how do we get it right. So skills, investment
• 7:43
  Speaker 8: in technology, sort of more aligned signals both across the
• 7:46
  Speaker 8: regulatory system, but also with productivity drivers.
• 7:49
  Speaker 2: The deaths we do have, what industries are they in generally?
• 7:53
  Speaker 8: Well, probably not surprising for a lot of people in
• 7:56
  Speaker 8: terms of where our acute fatality sits. Obviously, construction, farming, manufacturing,
• 8:03
  Speaker 8: the primary industries are the areas in transport and logistics
• 8:06
  Speaker 8: as well. But I mean, I think forestry is a
• 8:08
  Speaker 8: really good example of why I still have optimism for
• 8:12
  Speaker 8: how New Zealand can actually look to sort of bring
• 8:14
  Speaker 8: that really significant drag on our economy, five and a
• 8:17
  Speaker 8: half billion dollars. It was 5.4 10 years ago in
• 8:21
  Speaker 8: today's dollars, and we could take a billion off that
• 8:23
  Speaker 8: if we could catch up with Australia. I mean, where
• 8:25
  Speaker 8: forestry was 10 years ago, for those that remember 2013,
• 8:29
  Speaker 8: 10 fatalities, they didn't get safer simply by wearing safer
• 8:33
  Speaker 8: helmets and learning how to cut trees down with a
• 8:35
  Speaker 8: chainsaw better. They have transformed how trees get felled and
• 8:39
  Speaker 8: harvested in that sector over the last decade. So machinery, mechanisation,
• 8:44
  Speaker 8: longer contract arrangements to foster better investment. So that's not safer.
• 8:49
  Speaker 8: That's safer and more productive. And I think that's the
• 8:52
  Speaker 8: blueprint we need to encourage more of.
• 8:54
  Speaker 2: Are we doing more? Do we have riskier industries which
• 8:57
  Speaker 2: would therefore push our rate up? Or are we doing
• 8:59
  Speaker 2: the same things but doing them worse?
• 9:03
  Speaker 8: I think obviously the nature of New Zealand's primary industry
• 9:06
  Speaker 8: and the makeup has an impact on that comparison. But,
• 9:10
  Speaker 8: you know, the UK, they build big things there. They
• 9:13
  Speaker 8: have farming and forestry. Australia is certainly not a country
• 9:16
  Speaker 8: of office workers alone. So I think it's important we
• 9:20
  Speaker 8: look at, yeah, look, industry makeup matters. But really across
• 9:23
  Speaker 8: the board internationally, look, of the 25 OECD countries that
• 9:26
  Speaker 8: are richer than us, 20 of those 25 are, kill
• 9:30
  Speaker 8: fewer people than we do. So I think the blueprint
• 9:33
  Speaker 8: for safety isn't more helmets, high-vis and checklists. It's how
• 9:38
  Speaker 8: do we change the work? And, you know, what makes
• 9:40
  Speaker 8: me optimistic is, you know, across the business leaders, health
• 9:43
  Speaker 8: and safety forums, 450-odd chief executive members, we've got world-class
• 9:47
  Speaker 8: organisations in New Zealand doing some of that work. The
• 9:50
  Speaker 8: challenge is how do we scale them? How do we
• 9:52
  Speaker 8: get more New Zealand businesses doing, you know, looking at
• 9:54
  Speaker 8: changing the work, not just trying to change the worker?
• 9:57
  Speaker 8: All right.
• 9:58
  Speaker 2: Francois Barton, business leaders, health and safety, Forum, Chief Executive.
• 10:01
  Speaker 2: Good to have you on the show this morning, 18
• 10:02
  Speaker 2: after five.
• 10:03
  Speaker 1: So we had.
• 10:04
  Speaker 2: The Westpac McDermott Miller Employment Confidence Index. This is how well,
• 10:08
  Speaker 2: how good do you feel about the economy if you're
• 10:10
  Speaker 2: going out there and spending money or not spending money,
• 10:12
  Speaker 2: which has sadly been the point of late. It was
• 10:15
  Speaker 2: up 3.2 points to 86.3. This is for September. Now, remember,
• 10:19
  Speaker 2: we took a big dive. We were down 12 plus
• 10:22
  Speaker 2: points in the Q2 result. So we have peered back
• 10:26
  Speaker 2: some of that loss, which is good news. But it'll
• 10:30
  Speaker 2: take a little time to recover. In the meantime, we
• 10:32
  Speaker 2: are relying on trade. We're relying on our exports. We're
• 10:36
  Speaker 2: relying on a bit of government spending. We're relying on
• 10:39
  Speaker 2: other things to get us through. 19 after 5, Newstalk ZB.
• 10:43
  Speaker 2: We'll look at this letter that's been signed by a
• 10:45
  Speaker 2: bunch of business leaders with a warning about the election
• 10:49
  Speaker 2: and the policies, especially the supermarkets. That's next, Newstalk ZB.
• 11:01
  Speaker 1: Ryan Bridge on Early Edition with Spark for Business. Technology
• 11:06
  Speaker 1: that keeps business moving.
• 11:08
  Speaker 2: Newstalk ZB. 21 after five. Ryan, listening to you from France.
• 11:12
  Speaker 2: Good morning, Geoff. Following the news, excellent assessment of the
• 11:15
  Speaker 2: Roche v Public Service. Sack the lot, it's a rort,
• 11:19
  Speaker 2: says Geoff. Ryan, Minister Van Velden is right on this one,
• 11:22
  Speaker 2: but how about some accountability for ministers, says another. Yeah, well,
• 11:26
  Speaker 2: ministers are accountable because we, the public, elect the government, which,
• 11:31
  Speaker 2: and the Prime Minister then appoints the ministers, and we
• 11:34
  Speaker 2: can get rid of them every three years, or we
• 11:36
  Speaker 2: can force them to stand aside and resign if they
• 11:40
  Speaker 2: do something dumb. So there is an accountability mechanism there.
• 11:44
  Speaker 2: The question is whether the Public Service Commission has enough
• 11:47
  Speaker 2: power to, you know, pull the lever and do the
• 11:51
  Speaker 2: red seat on the CEOs of the departments.
• 11:54
  Speaker 7: Ryan Bridge.
• 11:55
  Speaker 2: 22 after 5. So you've got about 50 business leaders
• 11:58
  Speaker 2: all signing an open letter with the same sentiment, governments
• 12:01
  Speaker 2: stay out of business. Nick Mowbray, Antonio Watson, Chris Quinn,
• 12:05
  Speaker 2: you name it, they're all on there. Things are basic,
• 12:08
  Speaker 2: you would have thought. Protect private property rights, freedom of contract,
• 12:13
  Speaker 2: lawful agreements shouldn't be rewritten to suit election promises. Dr
• 12:17
  Speaker 2: Oliver Hartwich, New Zealand Initiative Executive Director with us this morning. Oliver,
• 12:20
  Speaker 2: good morning.
• 12:22
  Speaker 9: Good morning, Ryan.
• 12:22
  Speaker 10: How are you?
• 12:23
  Speaker 2: Very well, thank you. So what is the most concerning of,
• 12:25
  Speaker 2: you know, I've been through the list, you guys, of,
• 12:27
  Speaker 2: you know, rewriting the retirement village contracts that have already
• 12:30
  Speaker 2: been signed, cancelled mining approvals that have been granted lawfully.
• 12:34
  Speaker 2: Of the policies so far announced, which to you is
• 12:37
  Speaker 2: the most egregious or concerning?
• 12:40
  Speaker 9: I think they all form a pattern. It seems to
• 12:43
  Speaker 9: be that we have arrived in a period of post-rational
• 12:46
  Speaker 9: politics where anything goes, as long as it holds well
• 12:49
  Speaker 9: with a focus group. There were previously things that you
• 12:52
  Speaker 9: think you couldn't touch. You couldn't just threaten the company
• 12:55
  Speaker 9: with nationalization, for example. You couldn't retrospectively alter business contracts.
• 13:01
  Speaker 9: But everything goes nowadays if you think you can win
• 13:04
  Speaker 9: an election advantage by promising voters what they want to hear,
• 13:08
  Speaker 9: whether that's right or not. And that is the pattern
• 13:10
  Speaker 9: that we have detected through all parties, really. And that's
• 13:13
  Speaker 9: why we've written this letter, which is not directed at
• 13:16
  Speaker 9: any particular party, not at any particular party. promise that
• 13:19
  Speaker 9: these parties have made, but really at the petal that
• 13:21
  Speaker 9: has emerged.
• 13:23
  Speaker 2: Is your message to the parties or is it really
• 13:26
  Speaker 2: to us, the voters?
• 13:29
  Speaker 9: Well, the letter is actually addressed to the parties because
• 13:31
  Speaker 9: we think the parties have a responsibility to behave responsibly.
• 13:35
  Speaker 9: They shouldn't actually entertain policies that completely go against the
• 13:40
  Speaker 9: economic constitution of this country. And therefore, that was our
• 13:43
  Speaker 9: primary addressee, the parties. But of course, voters have a
• 13:46
  Speaker 9: responsibility too. They shouldn't reward this kind of behavior.
• 13:49
  Speaker 2: Oliver, the National Party and their supermarket plan. I mean,
• 13:53
  Speaker 2: I've spoken to business leaders who don't want to speak publicly,
• 13:56
  Speaker 2: but I think this is absolute madness from that party
• 13:58
  Speaker 2: in particular. What are you hearing?
• 14:01
  Speaker 9: I hear exactly the same. And it's interesting that you
• 14:03
  Speaker 9: say that business leaders wouldn't say that publicly because that's
• 14:06
  Speaker 9: exactly the behavior I encountered, too. We put this open
• 14:10
  Speaker 9: letter out to a large group of business people, and
• 14:12
  Speaker 9: you wouldn't believe how many business leaders told me I
• 14:15
  Speaker 9: could not possibly agree with this in public, even though
• 14:17
  Speaker 9: I completely privately agree with it, because I fear for
• 14:20
  Speaker 9: the repercussions. There is a culture of fear among New
• 14:23
  Speaker 9: Zealand business leaders where they think if they speak out
• 14:26
  Speaker 9: against policies that are absolutely nonsensical, they would be targeted,
• 14:29
  Speaker 9: they would be punished by our politicians. And I think
• 14:33
  Speaker 9: that culture of fear is something that concerns me even
• 14:35
  Speaker 9: more than the policies they proposed.
• 14:37
  Speaker 2: Which is a race to the bottom, because how do
• 14:39
  Speaker 2: you have a debate about something if no one's giving
• 14:41
  Speaker 2: the counter-argument?
• 14:43
  Speaker 9: That's exactly right. I heard from one business leader, they
• 14:46
  Speaker 9: got just invited to participate in the mood of the
• 14:49
  Speaker 9: boardroom survey. This is the one place where they can
• 14:51
  Speaker 9: actually say anonymously what they really think. And that business
• 14:54
  Speaker 9: leader said to me, this was his one chance in
• 14:56
  Speaker 9: a year to really say what he thinks, because otherwise
• 14:59
  Speaker 9: he would not get away with it.
• 15:01
  Speaker 2: Oliver Hartwich, New Zealand Initiative Executive Director. Time is 25
• 15:04
  Speaker 2: minutes after five. Jeez, talk about a power imbalance, eh?
• 15:09
  Speaker 2: Newstalk ZB. Newstalk ZB, 27 minutes after five. The problem
• 15:12
  Speaker 2: with writing books and not fact-checking them properly is that
• 15:15
  Speaker 2: you get yourself tangled in knots. At best, forced to apologise.
• 15:19
  Speaker 2: At worst, sued. I haven't read the one launched in
• 15:21
  Speaker 2: Wellington yesterday because I haven't got a copy of it.
• 15:24
  Speaker 2: I watched the press conference. I watched the stand-up afterwards.
• 15:27
  Speaker 2: There was one allegation made of note. that has been
• 15:30
  Speaker 2: denied by the current and past board chairs of the taxpayers' union.
• 15:35
  Speaker 2: But writing a book based on interviews with people without
• 15:37
  Speaker 2: proper fact-checking or documentation is fraught business. Due diligence goes
• 15:42
  Speaker 2: a long way. Look no further than Earl Spencer, Princess
• 15:46
  Speaker 2: Diana's brother, who wrote a book writing off Charles as
• 15:48
  Speaker 2: some sort of giddy widow. Well, also in his book,
• 15:51
  Speaker 2: he claimed Piers Morgan was in part behind the taking
• 15:55
  Speaker 2: of photos of Diana attending gym class in a leotard
• 15:58
  Speaker 2: with a secret camera. The problem for Spencer, had he
• 16:02
  Speaker 2: bothered to check, was that Pearce was not in fact
• 16:05
  Speaker 2: the editor of the Mirror newspaper the book assumed him
• 16:08
  Speaker 2: to be until two years after the photos were taken.
• 16:11
  Speaker 2: Pearce was ropeable. Spencer forced to apologise. It should serve
• 16:16
  Speaker 2: as fair warning that whether it's penned in London or Wellington,
• 16:20
  Speaker 2: you can't believe everything that is written down.
• 16:22
  Speaker 1: Ryan Bridge.
• 16:23
  Speaker 2: Time is 28 minutes after five. Now, Winston Peters... plagiarism
• 16:29
  Speaker 2: is another issue, isn't it? Now, Winston has denied this.
• 16:33
  Speaker 2: He said, we didn't copy paste our health policy. I
• 16:36
  Speaker 2: actually thought it was quite a good health policy because
• 16:37
  Speaker 2: how often do you hear people talking about the food triangle,
• 16:41
  Speaker 2: the food pyramid anymore?
• 16:43
  Speaker 9: Never.
• 16:44
  Speaker 2: If you want to be healthy, it's what you put in,
• 16:46
  Speaker 2: it's what you get out. Anyway, they are being accused
• 16:50
  Speaker 2: of copy pasting their 15 point health plan. Here's Winston
• 16:52
  Speaker 2: responding to that.
• 16:54
  Speaker 11: You even copied and pasted over a typo from their website.
• 16:57
  Speaker 12: Yeah, just to make sure that you were paying attention.
• 16:59
  Speaker 12: Did you copy and paste it?
• 17:01
  Speaker 4: Well, we worked with them.
• 17:03
  Speaker 7: We agreed substantially on a lot of their policies, but
• 17:05
  Speaker 7: we spent a lot of time studying other countries as well,
• 17:08
  Speaker 7: and it's in our foundation principles 33 years ago.
• 17:11
  Speaker 2: There you go. You are what you eat. I mean,
• 17:15
  Speaker 2: you could say, do you need 15 points to make
• 17:17
  Speaker 2: that point? That would be my advice. Any political party
• 17:22
  Speaker 2: listening to this this morning... And I know you do.
• 17:26
  Speaker 2: Just every policy, one page. In fact, you could get
• 17:28
  Speaker 2: it down to a sentence. Newstalk ZB, we're live to
• 17:32
  Speaker 2: the UK. Burnham has met Trump at the UN.
• 17:44
  Speaker 1: The news you need this morning and the in-depth analysis.
• 17:47
  Speaker 1: Early edition with Ryan Bridge and Spark for Business. Technology
• 17:52
  Speaker 1: that keeps business moving.
• 17:53
  Speaker 2: Newstalk ZB. 24 away from six. Good morning. Welcome to
• 18:02
  Speaker 2: your Wednesday. Trump and Burnham have had a little sit down,
• 18:04
  Speaker 2: a little chin wag at the UN in New York.
• 18:06
  Speaker 2: We'll look at that in 10 minutes. In 15, we'll
• 18:08
  Speaker 2: do the RBNZ COVID report, the dual mandate questions that
• 18:11
  Speaker 2: pop up out of that. Loads of text coming in. Ryan,
• 18:14
  Speaker 2: given that the book, the last one, was filled with errors,
• 18:18
  Speaker 2: who's holding Mr. Hager accountable for his work of fiction? Ryan,
• 18:21
  Speaker 2: Nicky Hager's latest work is from the same old playbook,
• 18:24
  Speaker 2: Pick a Target, Find the Narrative, Call it Journalism. And
• 18:28
  Speaker 2: this one's on public sector bosses. This is for Fens,
• 18:31
  Speaker 2: and we had Brook Van Velden's valedictory last night at Parliament. Ryan,
• 18:34
  Speaker 2: agree there are some whose performance is woeful. This is
• 18:38
  Speaker 2: the CEOs, and they should go. However, for many of them,
• 18:41
  Speaker 2: imagine how hard it is to constantly shift direction every
• 18:45
  Speaker 2: time the government changes, which happens every, well, could happen
• 18:48
  Speaker 2: every three years.
• 18:49
  Speaker 8: Yeah, I don't know.
• 18:50
  Speaker 2: That's kind of your job, isn't it? You should still
• 18:52
  Speaker 2: be competent and not lie in the meantime. You know,
• 18:55
  Speaker 2: pretty simple rules, really. Pretty easy to follow, I would
• 18:58
  Speaker 2: have thought. Yeah, what's hard about that? We're going to
• 19:03
  Speaker 2: get to our reporters. There was something else I wanted
• 19:06
  Speaker 2: to mention to you as well. Oh, that's right. Watching
• 19:08
  Speaker 2: the news last night, and you know the story about
• 19:10
  Speaker 2: the National Party. And there's a bigger issue going on here.
• 19:13
  Speaker 2: The attack ads from National, we're going to see more
• 19:15
  Speaker 2: of them. Labour's ads start Sunday, by the way, because
• 19:18
  Speaker 2: they haven't got as much money, so they're saving it up.
• 19:20
  Speaker 2: They're going to do a five-week blitz starting Sunday. But
• 19:23
  Speaker 2: what you're seeing is a whole bunch of nine new
• 19:25
  Speaker 2: taxes from Labour and their mates. And Labour says, oh,
• 19:28
  Speaker 2: this is lies. And National goes, oh, no, it's not, whatever. Actually,
• 19:32
  Speaker 2: no one cares anymore, do they? And people go, oh, yeah,
• 19:35
  Speaker 2: sounds like that might happen. Same thing with the ad,
• 19:38
  Speaker 2: the attack ad on crime. They've released this ad and
• 19:42
  Speaker 2: some of the footage that they've used is actually from
• 19:44
  Speaker 2: National's term in office. And National basically goes, oh yeah,
• 19:48
  Speaker 2: kind of true, but who cares? Points the same. Actually,
• 19:51
  Speaker 2: I don't think people do care. I think people just go, oh, yeah, Labour, taxes, crime.
• 19:56
  Speaker 2: Point made. And the more time that Labour spends talking
• 19:59
  Speaker 2: about the ads, the more attention that gets drawn to them.
• 20:01
  Speaker 2: The worse the problem gets. 22 away from six. Right,
• 20:06
  Speaker 2: let's go to our reporters now. Cullum and Deneen.
• 20:08
  Speaker 8: Morning, Cullum.
• 20:09
  Speaker 13: Morning, Ryan.
• 20:10
  Speaker 2: You've got Otago Uni researchers helping with the threat from
• 20:13
  Speaker 2: antibiotic resistance.
• 20:16
  Speaker 14: Yeah, researchers here at our university are joining an $ 87
• 20:19
  Speaker 14: million international programme which is aimed at addressing that growing threat.
• 20:24
  Speaker 14: The team's one of 16 selected worldwide, the only one
• 20:26
  Speaker 14: from New Zealand, and they'll be working on antibiotics that
• 20:30
  Speaker 14: target infections without damaging the good bacteria in the gut.
• 20:34
  Speaker 14: Associate Professor Alan Gamble's involved. He's told us this is
• 20:37
  Speaker 14: a career-defining moment to work on solving what is one
• 20:41
  Speaker 14: of the greatest health crises facing humanity. This program aims
• 20:45
  Speaker 14: to deliver major breakthroughs in antibiotic treatment within the next
• 20:48
  Speaker 14: five to six years.
• 20:49
  Speaker 2: How's your weather?
• 20:50
  Speaker 14: Five to ten years, correction.
• 20:52
  Speaker 2: Oh, there we go. How's your weather? Here we go.
• 20:54
  Speaker 14: Showers morning and afternoon, partly cloudy, some frost about this
• 20:57
  Speaker 14: morning as well.
• 20:58
  Speaker 2: Southwest is the high 11. All right, thank you, Clare's
• 21:00
  Speaker 2: in Christchurch.
• 21:01
  Speaker 9: Morning, Clare.
• 21:02
  Speaker 2: Good morning. What are these new numbers from Christchurch Hospital
• 21:04
  Speaker 2: all about?
• 21:05
  Speaker 15: Yeah, HealthNZ figures released to Newstalk ZB show the ED
• 21:09
  Speaker 15: at our hospital is now treating more than three times
• 21:11
  Speaker 15: as many patients in corridors as it was three years ago.
• 21:15
  Speaker 15: There were almost 14,500 patients recorded in corridors last financial year.
• 21:20
  Speaker 15: That's up from less than 4,000 three years ago. The
• 21:23
  Speaker 15: time patients spent there has also quintupled to be over
• 21:27
  Speaker 15: 29,000 hours in total. Self-discharges have also doubled to 5,000.
• 21:33
  Speaker 15: HealthNZ says providing treatment in corridors is not the experience
• 21:37
  Speaker 15: it wants for patients and staff work hard to ensure patients'
• 21:40
  Speaker 15: privacy and dignity are maintained. This is all not a
• 21:43
  Speaker 15: surprise to people like Senior ED Dr Dominic Fleischer, who
• 21:46
  Speaker 15: says it's actually now unusual to not have patients in
• 21:49
  Speaker 15: the corridors. Meanwhile, the nurses' organisation delegate Al Deachen says
• 21:53
  Speaker 15: other areas of the hospital are also struggling. Self-discharges are
• 21:57
  Speaker 15: increasing due to people being bumped off surgery waitlists, for example.
• 22:01
  Speaker 2: Ah, so the self-discharge, are they saying that people are
• 22:03
  Speaker 2: not liking waiting or hanging around in the corridors, so
• 22:06
  Speaker 2: they self-discharge?
• 22:07
  Speaker 15: Giving up, exactly, after so many hours, particularly in the corridors, yeah.
• 22:11
  Speaker 6: OK.
• 22:11
  Speaker 2: How's your weather?
• 22:13
  Speaker 15: A bit of rain about this morning, but then should
• 22:14
  Speaker 15: clear to mainly fine. Southwesterlies and a high of 11.
• 22:17
  Speaker 2: All right, so once you've self-discharged, you go out to
• 22:19
  Speaker 2: some sunny weather. Thank you, Claire. Max in Wellington.
• 22:22
  Speaker 9: Morning, Max.
• 22:22
  Speaker 2: Good morning. Now, we've got the mayor wanting to move
• 22:25
  Speaker 2: away from big corporates. What does that mean?
• 22:27
  Speaker 16: Yeah, quick background. We paid Deloitte well over 400 grand
• 22:31
  Speaker 16: for a report on the council that ended up using
• 22:33
  Speaker 16: out-of-date numbers, big chunks of crappy AI. We paid 600k
• 22:37
  Speaker 16: for a website about Central Library that didn't even give
• 22:40
  Speaker 16: you the function to look up books. A report found
• 22:42
  Speaker 16: that could have cost 100k. We even had a senior
• 22:45
  Speaker 16: council official in the studio with Nick Mills last week
• 22:48
  Speaker 16: telling us they have up to 90 people in their
• 22:50
  Speaker 16: IT team and the website could have very easily been
• 22:53
  Speaker 16: done in-house. We've had no fewer than three reports about
• 22:56
  Speaker 16: more point somewhat surprisingly, we had the CEO in last
• 23:00
  Speaker 16: week about this use of big corporates, specifically the Deloitte report.
• 23:05
  Speaker 16: He was perfectly happy with it. The mayor wasn't. So
• 23:08
  Speaker 16: Andrew Little has now told The Post the council is
• 23:10
  Speaker 16: reviewing its procurement policy. He says, we've got extraordinary talent
• 23:14
  Speaker 16: within the city. My hope and expectation is that when
• 23:17
  Speaker 16: we're commissioning work, we look around and see who can
• 23:20
  Speaker 16: offer services and support in terms of best value for money. Obviously,
• 23:24
  Speaker 16: that also might mean you use your own staff better
• 23:26
  Speaker 16: as well. In other words, it's been one thing after
• 23:28
  Speaker 16: another for the City Council. It's time to spend our
• 23:31
  Speaker 16: money a little more wisely.
• 23:32
  Speaker 7: All right.
• 23:32
  Speaker 2: How's your weather?
• 23:33
  Speaker 16: A little cloud with stronger southerlies, 10.
• 23:35
  Speaker 2: Nice one. Thank you. Neva's in Auckland.
• 23:37
  Speaker 10: Morning, Neva.
• 23:38
  Speaker 12: Good morning.
• 23:39
  Speaker 2: So we won't see the yellow-legged hornet re-emerge in Auckland.
• 23:42
  Speaker 12: Let's hope.
• 23:43
  Speaker 11: Let's hope. Well, yes, you're quite right. Look, the government poured,
• 23:46
  Speaker 11: as we know, $ 12 million into eradicating this invasive species
• 23:50
  Speaker 11: from the North Shore. Now, none have been spotted since April, so...
• 23:55
  Speaker 11: Victoria University biology professor Phil Lester says that if any
• 23:59
  Speaker 11: survive the winter undetected, they're going to begin, you know,
• 24:02
  Speaker 11: like waking up now from hibernation. So he says that
• 24:05
  Speaker 11: while the risks are minimal, a single survivor, a single
• 24:08
  Speaker 11: survivor could undo everything. So Phil Lester, he's about 95%
• 24:14
  Speaker 11: confident they're gone, but you never know. He's probably jinxed
• 24:16
  Speaker 11: it now. So Aucklanders have been told, you know, keep
• 24:18
  Speaker 11: your eyes peeled this spring.
• 24:20
  Speaker 2: Horrible little things. How's our weather? Cloudy.
• 24:22
  Speaker 11: Few morning and afternoon showers. 16 to high here in Auckland.
• 24:25
  Speaker 2: Brilliant, Neva. Thank you very much. 17 away from 6.
• 24:27
  Speaker 2: We're in the UK next. Burnham has met with Trump
• 24:30
  Speaker 2: at the UN. We'll have reaction. When people choose a
• 24:33
  Speaker 2: KiwiSaver provider, they often focus on a single thing, on
• 24:36
  Speaker 2: one thing. Maybe it's the returns. Maybe it's the fees.
• 24:39
  Speaker 2: Maybe it's just where they have their bank account. but
• 24:42
  Speaker 2: it actually makes sense to look at the whole picture.
• 24:45
  Speaker 2: Over the past 10 years, Milford has more number one
• 24:49
  Speaker 2: ranked funds than any other provider in the country. Milford
• 24:52
  Speaker 2: consistently wins awards for its service. It's a majority New
• 24:56
  Speaker 2: Zealand-owned company, and Milford's team invest in the same Milford
• 24:59
  Speaker 2: funds as their clients do. It's called skin in the game.
• 25:02
  Speaker 2: No single reason tells the whole story, but together they
• 25:05
  Speaker 2: paint a compelling picture, and that's another reason to choose Milford.
• 25:08
  Speaker 2: Find out more at milfordasset.com. Past performance is not a
• 25:12
  Speaker 2: reliable indicator of future performance. Investment involves risk and returns
• 25:15
  Speaker 2: can be negative as well as positive. Milford Funds Limited
• 25:18
  Speaker 2: is the issuer of the Milford KiwiSaver plan. Go to
• 25:21
  Speaker 2: milfordasset.com to read the Milford KiwiSaver plan product disclosure statement.
• 25:25
  Speaker 1: International correspondence with NZI Insurance. Peace of mind for New
• 25:30
  Speaker 1: Zealand business.
• 25:31
  Speaker 2: Right, we've had a meeting on the sidelines of the
• 25:33
  Speaker 2: UN between Burnham and Trump. All smiles.
• 25:36
  Speaker 13: And it's time to turn the story about Britain to
• 25:39
  Speaker 13: a positive story. Get some hopefulness going around the country.
• 25:44
  Speaker 13: And I think you were saying today that very much
• 25:47
  Speaker 13: is how you see it. And there's a great opportunity
• 25:51
  Speaker 13: for us.
• 25:52
  Speaker 3: This is a country with great patriots. They love the country.
• 25:55
  Speaker 3: The people love the country as much as any other
• 25:57
  Speaker 3: country I can think of. And I think it's just
• 25:59
  Speaker 3: waiting for success, waiting for good leadership, waiting for success.
• 26:03
  Speaker 2: So joining us, Gavin Gray, our UK Europe correspondent. Gavin,
• 26:06
  Speaker 2: all went off without a hitch.
• 26:08
  Speaker 10: Yes, I think there were no ambushes, which is something
• 26:11
  Speaker 10: that the back bench team will be very pleased about.
• 26:16
  Speaker 10: Andy Burnham kind of held his own. They said afterwards,
• 26:19
  Speaker 10: each other, they felt there were people that they could
• 26:21
  Speaker 10: do business with, which I think is pretty crucial.
• 26:24
  Speaker 9: It was full of.
• 26:26
  Speaker 10: really bear pits traps for Andy Burnham. He once said
• 26:29
  Speaker 10: in 2021, any UK politician who gave Trump the time
• 26:33
  Speaker 10: of day should be ashamed right now. That was after
• 26:35
  Speaker 10: the violence at the US Capitol back in 2021 and
• 26:39
  Speaker 10: previously branded the US president's brand of politics as poisonous. Thankfully,
• 26:43
  Speaker 10: Nobody asked about those things. And they went on and
• 26:46
  Speaker 10: seemed to get on pretty well. But although, you know,
• 26:50
  Speaker 10: they're saying it's as strong as it's ever been, there's
• 26:52
  Speaker 10: no doubt that the lack of participation, as Donald Trump
• 26:55
  Speaker 10: saw it in the UK's response to asking for help
• 26:59
  Speaker 10: in Iran and the war against Iran and not being
• 27:02
  Speaker 10: forthcoming from the UK, that didn't go down very well.
• 27:05
  Speaker 10: So there were plenty of things that could have gone wrong.
• 27:08
  Speaker 10: And so far, sort of steady in the ship. I
• 27:09
  Speaker 10: think it's a sort of wake and wait-and-see thing really, Ryan.
• 27:13
  Speaker 10: It's the first time, incidentally, now that we've heard news
• 27:17
  Speaker 10: as well that the UK and US have, for the
• 27:19
  Speaker 10: first time, fired an American torpedo from a British undersea
• 27:23
  Speaker 10: drone in a military exercise. Clay, people are pointing to
• 27:26
  Speaker 10: this and saying maybe that's a change of heart. Maybe
• 27:29
  Speaker 10: things are warmer between Donald Trump and our new Prime Minister,
• 27:33
  Speaker 10: Andy Burnham, than they were with the previous Prime Minister.
• 27:36
  Speaker 10: But Donald Trump's still very heavily critical of the Chagos
• 27:39
  Speaker 10: Islands deal. that the UK has set up with Mauritius
• 27:42
  Speaker 10: and that he says he does not support.
• 27:45
  Speaker 2: Hey, very quickly, with this RAF plane that's helping the
• 27:47
  Speaker 2: Saudis with the Houthis, what's it doing?
• 27:50
  Speaker 10: Yeah, so it's basically helping Saudi Arabian jets fill up
• 27:54
  Speaker 10: with fuel. So the UK is to deploy a military
• 27:57
  Speaker 10: aircraft for air-to-air refueling. The operation should start in the
• 28:02
  Speaker 10: coming days. It's a request from Saudi Arabia, and they're
• 28:06
  Speaker 10: saying it'll be, you know, something, it's a defensive, purely
• 28:09
  Speaker 10: defensive mission in a matter starting in days, but taking
• 28:13
  Speaker 10: a matter of weeks to rather than days in duration.
• 28:16
  Speaker 10: But plenty of people here worried about mission creep or
• 28:19
  Speaker 10: mission bleed, where you start off with one aim, and
• 28:22
  Speaker 10: of course, you're asked to do others. But either way,
• 28:24
  Speaker 10: the UK stressing this is defensive, it is not attacking,
• 28:27
  Speaker 10: and they're determined to try to keep Saudi Arabia safe.
• 28:30
  Speaker 2: Gavin Gray, our UK Europe correspondent, time is 11 away
• 28:32
  Speaker 2: from six.
• 28:33
  Speaker 1: Ryan Bridge.
• 28:34
  Speaker 2: We've had the independent review now into the Reserve Bank
• 28:37
  Speaker 2: under Adrian Orr. How did it do with COVID? How
• 28:39
  Speaker 2: would it deal with the post-COVID era? No one's surprised.
• 28:42
  Speaker 2: It says the bank was too slow to withdraw the
• 28:45
  Speaker 2: monetary stimulus as the economy recovered. In other words....
• 28:49
  Speaker 10: They over-egged the omelette.
• 28:50
  Speaker 13: They left interest rates too low for too long.
• 28:52
  Speaker 6: The economy overheated to an historically extreme degree.
• 28:56
  Speaker 2: Mark Smith, ASB senior economist with us this morning. Mark,
• 28:59
  Speaker 2: good morning.
• 29:00
  Speaker 7: Good morning, Ryan.
• 29:01
  Speaker 2: I mean, is this 2020 hindsight all very well to
• 29:04
  Speaker 2: look back now, but at the time it was hard
• 29:06
  Speaker 2: to see, or should they have seen it?
• 29:09
  Speaker 7: A bit of both, really. Hindsight is always a great thing.
• 29:12
  Speaker 7: I suppose for them, it was really the least regret.
• 29:16
  Speaker 7: What did we want to avoid? And it was a
• 29:19
  Speaker 7: pronounced period of deflation, so they went the other way. Unfortunately,
• 29:24
  Speaker 7: the global economy and the New Zealand economy as well
• 29:27
  Speaker 7: proved to be more resilient and adaptable than initially thought.
• 29:31
  Speaker 7: The amount of stimulus that was put in place, not
• 29:34
  Speaker 7: only by the Reserve Bank, but also the Treasury as.
• 29:36
  Speaker 10: Well, was.
• 29:39
  Speaker 7: Absolutely. massive. And also the supply side of the economy
• 29:44
  Speaker 7: was also going the wrong way. So the labour market,
• 29:47
  Speaker 7: for example, was the tightest in the generation. So they
• 29:50
  Speaker 7: came out with an economy that was actually more resilient.
• 29:54
  Speaker 7: And also, there was not as much spare capacity as
• 29:56
  Speaker 7: earlier thought. And as a result, inflation picked up and
• 30:00
  Speaker 7: stayed higher for longer.
• 30:01
  Speaker 2: Mark, what about the dual mandate? What is your takeaway
• 30:04
  Speaker 2: from this report?
• 30:06
  Speaker 7: Yeah, I mean, that's all very well. Dual mandates are great.
• 30:10
  Speaker 7: The reality is you really only have one instrument, that's
• 30:13
  Speaker 7: the OCR. And if you have two targets, that can
• 30:16
  Speaker 7: be fine if they're both going the same way. What
• 30:18
  Speaker 7: we're seeing now, though, is the global economy is a
• 30:21
  Speaker 7: lot more different. There are a lot more cost shocks.
• 30:23
  Speaker 7: When a cost shock hits an economy, what happens is
• 30:26
  Speaker 7: the unemployment rate goes up and so does the inflation rate.
• 30:30
  Speaker 7: So really the dilemma is which one do you tackle first? Now,
• 30:33
  Speaker 7: the argument here is really the inflation targets to really
• 30:37
  Speaker 7: take precedence. And you really want to also look at
• 30:40
  Speaker 7: real interest rates as well. So as a result, during COVID,
• 30:44
  Speaker 7: real interest rates were very, very, very low. At the moment,
• 30:47
  Speaker 7: real interest rates in New Zealand are negative.
• 30:51
  Speaker 2: Mark Smith. Good to have you on the show as always.
• 30:53
  Speaker 2: ASB Senior Economist. Time is eight minutes away from six.
• 30:56
  Speaker 2: I noticed that Piers Morgan saying he's still going to
• 30:59
  Speaker 2: sue Earl Spencer, even though Earl Spencer has apologized for
• 31:03
  Speaker 2: the quote lie that he told in his book. Newstalk ZB.
• 31:07
  Speaker 1: Hear it first. Ryan Bridge on early edition with Spark
• 31:11
  Speaker 1: for Business. Technology that keeps business moving.
• 31:14
  Speaker 2: Newstalk ZB. Six to six, Ryan. I can think of
• 31:17
  Speaker 2: one reason Kerry Gregory doesn't want to resign as the
• 31:19
  Speaker 2: CEO of Fensley. Salaries $ 520, 000 a year. Very quickly, six-year-old
• 31:25
  Speaker 2: girl at a women's world record event. This is the
• 31:28
  Speaker 2: Rubik's Cube. Solving the Rubik's Cube. Just set the world record.
• 31:31
  Speaker 2: She's six years old. So fastest female in the world,
• 31:36
  Speaker 2: Lian Yanzi is her name. She's from China. She did
• 31:40
  Speaker 2: it in 4.52 seconds. And in a second attempt, 4.27 seconds.
• 31:45
  Speaker 2: This is competitions in Wuhan and Guangzhou. And now the
• 31:49
  Speaker 2: first female Cuber to achieve an average time of under
• 31:51
  Speaker 2: four and a half seconds. The fastest time in the
• 31:54
  Speaker 2: world by anyone of any sex was 2.76. Morning, Mike. Morning.
• 32:00
  Speaker 12: I saw the video of her. I thought they said
• 32:02
  Speaker 12: she was four. It doesn't matter, but the point is
• 32:05
  Speaker 12: she looked excited in doing it.
• 32:07
  Speaker 2: How cool.
• 32:08
  Speaker 12: And, well, it was rote. You can tell it's rote.
• 32:10
  Speaker 9: Yeah.
• 32:10
  Speaker 12: There's something about whatever they do.
• 32:13
  Speaker 2: It's a rote movement.
• 32:14
  Speaker 12: Have you ever done it?
• 32:15
  Speaker 7: Rubik's Cube?
• 32:15
  Speaker 12: I got it down to 18 seconds.
• 32:17
  Speaker 2: Did you really?
• 32:17
  Speaker 6: No.
• 32:20
  Speaker 2: You lie so convincingly.
• 32:21
  Speaker 12: A hundred percent.
• 32:23
  Speaker 3: Yeah.
• 32:23
  Speaker 2: Are the Warriors going to win? Of course they are.
• 32:25
  Speaker 12: Of course they are.
• 32:26
  Speaker 2: Can you do a Rubik's Cube? Of course I can.
• 32:28
  Speaker 12: You've got to believe. You've got to believe. Believe or lie.
• 32:31
  Speaker 12: You say it often enough, it becomes true. That's how
• 32:34
  Speaker 12: it works. That's how it works. The Reserve Bank review.
• 32:38
  Speaker 12: The funny thing about the review, and having read it yesterday,
• 32:41
  Speaker 12: they've got a guy from MIT along with an ex-Reserve Banker.
• 32:44
  Speaker 2: Very impressive.
• 32:45
  Speaker 12: The point being, they say things like they need to
• 32:48
  Speaker 12: be more robust. Now, what does that mean?
• 32:51
  Speaker 7: Nothing.
• 32:51
  Speaker 12: I mean, it means literally nothing, doesn't it?
• 32:53
  Speaker 2: Because we were just talking about this off air. It's
• 32:55
  Speaker 2: the same story we're being told just repeatedly now.
• 32:58
  Speaker 12: I suppose it's official. It's in the record, I guess.
• 33:01
  Speaker 2: Independent of the Reserve Bank.
• 33:02
  Speaker 12: So you can go back and say, well, these people
• 33:04
  Speaker 12: looked at it and then it wasn't. I noted Hipkins
• 33:08
  Speaker 12: was trying to run his line yesterday. We've all moved on.
• 33:10
  Speaker 12: I don't think that's true. I don't think it's remotely true.
• 33:13
  Speaker 12: and that there's an indisputable truth, we're still living through it.
• 33:16
  Speaker 2: Yes, although I think he's right in the sense that
• 33:19
  Speaker 2: no one's still talking about the COVID lockdowns. The psyche's
• 33:23
  Speaker 2: moved on a bit, but I don't think the blame
• 33:26
  Speaker 2: has shifted yet.
• 33:26
  Speaker 12: Blame has not shifted, and that's why they'll lose the election,
• 33:29
  Speaker 12: because people, when push comes to shove on the day, the.
• 33:32
  Speaker 2: Same people are doing the same thing.
• 33:34
  Speaker 12: Anyway, I've got some good health news this morning, and actually,
• 33:37
  Speaker 12: you'll be interested in this. Some very good wine news.
• 33:40
  Speaker 8: Oh, good.
• 33:41
  Speaker 2: Oh, exactly. Does that mean I get more?
• 33:43
  Speaker 12: Well, you may well end up with more wine. More
• 33:46
  Speaker 12: wine as a result of it.
• 33:47
  Speaker 10: Anyway.
• 33:48
  Speaker 2: Fabulous. Mike is with you next. Newstalk ZB. Enjoy your
• 33:51
  Speaker 2: Wednesday morning.
• 34:00
  Speaker 13: Oh, help.
• 34:08
  Speaker 1: For more from Early Edition with Ryan Bridge, listen live
• 34:11
  Speaker 1: to News Talk ZB from 5 a.m. weekdays or follow
• 34:14
  Speaker 1: the podcast on iHeartRadio.