Latest / Best of Business / Barry Soper: ZB senior political correspondent on Adrian Orr's sudden resignation as Reserve Bank Governor

Transcript

Barry Soper: ZB senior political correspondent on Adrian Orr's sudden resignation as Reserve Bank Governor · Best of Business

• 0:09
  Speaker 1: You're listening to a podcast from News Talks. They'd be
• 0:12
  Speaker 1: follow this and our wide range of podcasts now on iHeartRadio.
• 0:16
  Speaker 2: Thirteen away from five News Talks. He'd be very Soper,
• 0:19
  Speaker 2: senior political correspondent with us. Very good afternoon, Good afternoon, right,
• 0:23
  Speaker 2: So Adrian Or is off, see you later.
• 0:25
  Speaker 3: Yeah, Well, the chair of the board, Neil Quigley, he'll
• 0:29
  Speaker 3: be holding a news conference at five o'clock, so it'll
• 0:32
  Speaker 3: be interesting to see what he's got to say. But
• 0:35
  Speaker 3: I would imagine it'll be a diplomatic affair that they
• 0:39
  Speaker 3: won't say that Adrian Or was asked to walk, or
• 0:42
  Speaker 3: whether he did it of his own volition. I think
• 0:46
  Speaker 3: we'll just have to keep guessing on that one. But
• 0:48
  Speaker 3: there's no doubt when you remember when he was reappointed
• 0:52
  Speaker 3: to the job by Grant Robertson in twenty twenty two,
• 0:55
  Speaker 3: it was a year out from the election, and in
• 0:58
  Speaker 3: the past twenty seventeen comes to mind there was a
• 1:03
  Speaker 3: change of governor six months. Well, in fact, they delayed
• 1:07
  Speaker 3: the for six months because the new government really should
• 1:12
  Speaker 3: be in the position of making decisions itself when it
• 1:16
  Speaker 3: comes to the governor, and Grant Robertson you'd have to
• 1:18
  Speaker 3: say was his final bird to the the national government
• 1:23
  Speaker 3: because they were totally opposed to it. And when you
• 1:27
  Speaker 3: look at Adrian or you know, the some would say
• 1:30
  Speaker 3: the damage he did to the economy, he used the
• 1:34
  Speaker 3: OCR a bit like a firing squad aimed at the
• 1:38
  Speaker 3: economy and you know, sucked so much money out of it.
• 1:43
  Speaker 3: The mortgage mortgage rates went through the roof. They've now
• 1:46
  Speaker 3: come back, and maybe he's thought, well, okay, I leave
• 1:50
  Speaker 3: in a pretty good situation where.
• 1:52
  Speaker 2: See I think that's what it said. I reckon he's
• 1:55
  Speaker 2: got a new job. He's been looking for the past
• 1:57
  Speaker 2: year for a new job, and he's been waiting for
• 1:59
  Speaker 2: the right time to get out, and he's just lowered
• 2:01
  Speaker 2: the rates, done a bit of a victory lap, and
• 2:03
  Speaker 2: he's worried, well, who knows what Trump's going to do
• 2:05
  Speaker 2: to inflation. Well, he's probably thinking right now, the right
• 2:08
  Speaker 2: time out.
• 2:09
  Speaker 3: Of here, right right time to go. Yeah, I think
• 2:11
  Speaker 3: you're probably right there.
• 2:13
  Speaker 2: Michael Riddell on the program after five, by the way,
• 2:15
  Speaker 2: he's the former economist at the Reserve Bank, will ask
• 2:17
  Speaker 2: him what he thinks.
• 2:18
  Speaker 1: Now.
• 2:18
  Speaker 2: Peters has said the inter islander contract fee, where he
• 2:22
  Speaker 2: said this on our show last night actually as well,
• 2:23
  Speaker 2: but won't be three hundred million dollars a less than that.
• 2:27
  Speaker 3: Now, what that says to me is that Winston's been
• 2:30
  Speaker 3: talking to Harandai, who the negotiating with South Korea. He
• 2:35
  Speaker 3: saw them last week, So you know, I think you
• 2:39
  Speaker 3: may see that Hyanda will end up with a contract
• 2:43
  Speaker 3: to build these fairies. So that would not negate the
• 2:47
  Speaker 3: break fee because it was worth a lot of money.
• 2:50
  Speaker 3: But it was interesting to me the exchange in the
• 2:53
  Speaker 3: house today because you know, Winston essentially pulled the rug
• 2:58
  Speaker 3: from beneath Nikola Willis when he essentially appointed himself as
• 3:03
  Speaker 3: Minister of Raoul, saying I can come up with a
• 3:06
  Speaker 3: better deal. And like you and I've said on this program,
• 3:08
  Speaker 3: Ryan will never really know the truth of that, because
• 3:11
  Speaker 3: nobody's going to disagree with him when a figure comes out.
• 3:15
  Speaker 3: But Nikola Willis she was seething when facing questions from
• 3:20
  Speaker 3: Labour's finance spokeswoman Barbara Edmunds over the original Fairy deal
• 3:25
  Speaker 3: nutted out by the Labor government.
• 3:27
  Speaker 4: The biggest dog of an infrastructure project New Zealand has
• 3:30
  Speaker 4: seen in many years that blew out members from seven
• 3:35
  Speaker 4: hundred and fifty million dollars to four billion dollars in climbing.
• 3:40
  Speaker 5: Does she agree with the Minister for Rail who said
• 3:43
  Speaker 5: the break fee quote costs US way less than three
• 3:46
  Speaker 5: hundred million unquote?
• 3:48
  Speaker 4: I find it as wise to agree with the Minister
• 3:50
  Speaker 4: of Rail.
• 3:50
  Speaker 6: They're on on Winston Peters, as the finnouncement say confident
• 3:54
  Speaker 6: that when this is all resolved, the savings to the
• 3:57
  Speaker 6: New Zealand taxpayer, based on Treasury's last and prediction, will
• 4:00
  Speaker 6: be in excess of two billion dollars.
• 4:03
  Speaker 4: Oh well, mister speaker, I'm delighted to hear that the
• 4:06
  Speaker 4: Minister for Rail has these is in hands.
• 4:11
  Speaker 5: Does she agree with the Minister for Rail that Treasury's
• 4:14
  Speaker 5: prediction this will save two billion dollars? Can she confirm that?
• 4:18
  Speaker 4: I find it's always wise to agree this minister for
• 4:20
  Speaker 4: our Ah.
• 4:22
  Speaker 3: You notice the tension between I think Nikola Willis and
• 4:26
  Speaker 3: Winston Peters.
• 4:27
  Speaker 2: That's interesting because he's revealing a number he shouldn't have
• 4:30
  Speaker 2: the yes so if we run the quick sums on that.
• 4:33
  Speaker 2: So four billion dollars is what it was going to
• 4:34
  Speaker 2: cost us for the fairies and climbing and climbing and
• 4:38
  Speaker 2: for and the land side infrastructure. So if you're saving
• 4:40
  Speaker 2: two billion, that means we can get our landside infrastructure
• 4:43
  Speaker 2: and our fairies plus the break fee for less than
• 4:46
  Speaker 2: two billion.
• 4:46
  Speaker 3: Well you know the point that Winston Peter's made, and
• 4:49
  Speaker 3: I've heard him on air today saying it that he
• 4:52
  Speaker 3: said the fairies initially when he was part of the
• 4:55
  Speaker 3: coalition government were to buy the two fairies were four
• 4:58
  Speaker 3: hundred million dollars.
• 5:00
  Speaker 1: So crazy.
• 5:01
  Speaker 2: God, Yeah, it is all right, very fantastic. And Richard Prebble,
• 5:04
  Speaker 2: you've got any thoughts on this, We've got him on
• 5:05
  Speaker 2: the show after five point thirty tonight to pick his brain.
• 5:08
  Speaker 1: Yeah.
• 5:09
  Speaker 3: Well, look, some would say it's a stunt, certainly in
• 5:12
  Speaker 3: the House today. Not surprisingly, the decision to resign from
• 5:16
  Speaker 3: the Tribunal was seen by Willie Jackson from Labor as
• 5:19
  Speaker 3: a stunt.
• 5:21
  Speaker 7: The resignation by Prebles just another shameful, bad faith political
• 5:25
  Speaker 7: stunt designed to cause racial baiting divisiveness. The stunt smells
• 5:30
  Speaker 7: as bad as ex school lunches and as a waste
• 5:32
  Speaker 7: of time to undermine this Parliament's important work.
• 5:36
  Speaker 3: There you go, he.
• 5:39
  Speaker 2: Said it all the King of stunts himself, Yes exactly, Yes, Verry,
• 5:43
  Speaker 2: thank you very safe for senior political correspondent here on
• 5:46
  Speaker 2: News Talks EDB. It's eight minutes away from five. Don't
• 5:49
  Speaker 2: forget Tom McLay, the Trade Minister, on the trade war
• 5:51
  Speaker 2: after five o'clock.
• 5:53
  Speaker 1: For more from News Talks EDB, listen live on air
• 5:56
  Speaker 1: or online, and keep our shows with you wherever you
• 5:59
  Speaker 1: go with our podcast on iHeartRadio.