Latest / Early Edition with Ryan Bridge / Full Show Podcast: 02 July 2026

Transcript

Full Show Podcast: 02 July 2026 · Early Edition with Ryan Bridge

0:00
Speaker 1: The issues, the interviews and the insight. Bryan Bridge on
0:05
Speaker 1: early edition with Spark for Business Technology that keeps business
0:09
Speaker 1: moving News talks.
0:10
Speaker 2: There'd be very good.
0:11
Speaker 3: Morning to welcome to Thursday. Coming up, Kelly Ekole from
0:14
Speaker 3: Westpac on this IMF report card saying we need another tax?
0:18
Speaker 3: Do we really? US Correspondent Mitch McCann is with us
0:20
Speaker 3: right now. There are two people scaling the Empire State
0:24
Speaker 3: Building in New York City. It's quite dramatic. Also this
0:27
Speaker 3: morning we'll speak to a real estate agent about the
0:29
Speaker 3: price of your property. It's not going in the right direction.
0:32
Speaker 3: And Casey Costello is with us. First up the agenda Thursday,
0:37
Speaker 3: the second of July. Starmer and Kemmy Badenock have been
0:39
Speaker 3: trading blows over a supposed hole in this defense spending budget.
0:44
Speaker 4: There are only three ways, mister Speaker to find the
0:47
Speaker 4: missing five billion, increase borrowing, increase taxes or cut welfare.
0:53
Speaker 4: Which one will he recommend to the member for meet
0:55
Speaker 4: the field?
0:56
Speaker 5: The decision at last budget gave us more than twenty
0:59
Speaker 5: two billion pound in headroom, so we can take the decisions.
1:03
Speaker 5: They donnot stand this because they cashed it ill we
1:06
Speaker 5: built a headroom of twenty two billion pulfright.
1:09
Speaker 3: Some are saying this whole thing is just a big
1:11
Speaker 3: mess of headache for Andy Burnham.
1:13
Speaker 6: No wonder that Team burnhamart for the first time in
1:16
Speaker 6: this transition. I think properly furious. The true figure is
1:21
Speaker 6: just a bit bigger than five billion. Now, the Treasury
1:24
Speaker 6: point out that five billion pounds or so of cattle
1:27
Speaker 6: spending changes are a dropping the ocean compared to the
1:29
Speaker 6: trillion pounds of government spending. But if it was that easy,
1:32
Speaker 6: why couldn't they manage to sort this house in ten mins?
1:34
Speaker 3: A very good question. Indeed, right, let's go to the ereas.
1:37
Speaker 3: Trump's made more than a billion bucks that's one point
1:39
Speaker 3: seven billion New Zealand last year from business dealings in crypto.
1:43
Speaker 4: The critics to say, you're profiting off the presidency.
1:45
Speaker 2: Mister, well, do you know why I have gravity? Because
1:47
Speaker 2: the sack workers going up. Everybody's raffitting. If you have
1:50
Speaker 2: a four oh one jay, how's your four oh one
1:52
Speaker 2: ja done? Spent up eighty five percent? Thank you, President draft,
1:57
Speaker 2: So we're all rappeting. I'm rafferting because you have a
2:00
Speaker 2: lot of money.
2:02
Speaker 3: Finally, this morning, don't understand it. It is one of
2:11
Speaker 3: Trump's favorite songs. You love to dance her, but that's
2:13
Speaker 3: not why we're playing this morning Village People from Man.
2:15
Speaker 3: Victor Willis has died at the age of seventy four.
2:18
Speaker 3: Lead singer co writer behind the likes of this the YMCA,
2:21
Speaker 3: Go West and in the Navy passed away following what
2:24
Speaker 3: the band described as a short but aggressive Illness News.
2:28
Speaker 1: And Views you Trust to start your day. It's early
2:32
Speaker 1: edition with Ryan Bridge and Spark for Business Technology that
2:36
Speaker 1: keeps business moving, US talksb.
2:38
Speaker 3: It's very quickly on the Defense plan. Out of the
2:41
Speaker 3: US nine two are out of the UK nine two
2:43
Speaker 3: nine two the number of text by the way, So
2:45
Speaker 3: Andy Burnham now under pressure. We spoke about this yesterday
2:48
Speaker 3: because three and a half percent is what NATO wants.
2:51
Speaker 3: Three and a half percent of your GDP. You give
2:54
Speaker 3: that two defense or you're not keeping up your end
2:57
Speaker 3: of the bargain. That's the deal to get there. That's
3:00
Speaker 3: an extra twenty five million pounds but sorry, twenty five
3:04
Speaker 3: billion pounds a year. And remember yesterday it was oh,
3:08
Speaker 3: this is an extra fifteen billion pounds a year and
3:10
Speaker 3: people thought that was amazing. Well it's not. You'd need
3:14
Speaker 3: twenty five. And now you've got the armed forces, you've
3:17
Speaker 3: got the Chief of Defense Force, you've got Air Chief
3:21
Speaker 3: Marshal Sir Richard Knight, and they've all coming out saying
3:24
Speaker 3: you need to fund this thing. And this is the
3:26
Speaker 3: joke of it. And it's actually the joke of a
3:29
Speaker 3: lot of plans that government puts out there because business
3:31
Speaker 3: doesn't do this, and we don't do this at home.
3:35
Speaker 3: Put a plan, our ten year plan, a wish list
3:38
Speaker 3: of things that we would like to happen, and not
3:40
Speaker 3: actually plan for how we might pay for them or
3:43
Speaker 3: how we might fund them. This is what we've done
3:45
Speaker 3: with infrastructure, it's what Britain is doing with defense, and
3:49
Speaker 3: it's an absolute sham. You know, if I was to
3:53
Speaker 3: say I want a ten year life plan of what
3:56
Speaker 3: I want to do and achieve in my life in
3:58
Speaker 3: the next ten years, I wouldn't just write down, you know,
4:02
Speaker 3: a trip to Spain and then you know, write it
4:05
Speaker 3: down and cray on with it a little sunshine and
4:08
Speaker 3: then run outside and keep playing. I would write down
4:11
Speaker 3: Spain the year I wanted to go, the approximate cost.
4:15
Speaker 3: I would work out how much I would need to
4:17
Speaker 3: save over the next few years in order to get
4:20
Speaker 3: that trip to Spain. You know, you don't just scribble
4:23
Speaker 3: down and wish and hope and run outside and play again,
4:27
Speaker 3: do you. But that is what so much of government
4:29
Speaker 3: is about. Big, grand, bold visions that no one knows
4:34
Speaker 3: how to pay for. Wonder why we're in debt anyway,
4:38
Speaker 3: On that cherry note elicit cigarettes, we'll speak to Casey Costello. Next.
4:42
Speaker 3: News Talk ZEB the Early.
4:44
Speaker 1: Edition full the show podcast on iHeartRadio Power by newstalksb
4:51
Speaker 1: the first word on the News of the Day Early
4:54
Speaker 1: edition with Ryan Bridge and Spark for Business Technology that
4:58
Speaker 1: keeps business moving.
5:00
Speaker 3: News Talk Z'd be five point thirteen, So in a
5:03
Speaker 3: little bit, in fact, about seven minutes time, we'll talk
5:05
Speaker 3: about the real estate situation, because it's not going anywhere
5:09
Speaker 3: in a hurry. In fact, asking prices real estate dot
5:11
Speaker 3: com dot MZ fell for a fourth consecutive month, down
5:14
Speaker 3: almost sixty thousand dollars. This is an Auckland price is
5:18
Speaker 3: asking prices down sixty grand since February, stock highest than
5:24
Speaker 3: twelve years nationally. Volumes have risen twenty five nationally thirty
5:30
Speaker 3: three in Auckland, one of the highest in major urban
5:32
Speaker 3: areas in Wellington. It is twenty weeks to salar house.
5:35
Speaker 3: Canterbury just fourteen weeks. So if you own a house
5:38
Speaker 3: and you're trying to sell one, it's difficult. If you're
5:40
Speaker 3: trying to buy one, presumably a bit easier. We'll talk
5:42
Speaker 3: all of that in about six minutes time, Ryan Bridge,
5:46
Speaker 3: Customs taking action on illegal cigarettes, which more and more
5:50
Speaker 3: people here are smoking.
5:51
Speaker 7: We do not want to get into a position in
5:53
Speaker 7: New Zealand where god the Australians are actually facing at
5:56
Speaker 7: the moment, where there's standover tactics from all crime groups
6:01
Speaker 7: and certainly several homicides from that as well.
6:04
Speaker 3: Right, let's go to This is a six month long
6:06
Speaker 3: investigation dubbed Operation Clarity. By the way, Casey Costello Customs Minister, Minister,
6:11
Speaker 3: good morning.
6:12
Speaker 8: Good morning, Ryan.
6:13
Speaker 3: I suppose this is a good thing. That's probably a
6:15
Speaker 3: bad thing because it tells us just how bad the
6:17
Speaker 3: problem is. Right, lots of people are smoking illegal cigarettes
6:20
Speaker 3: because we've made the regular ones so done expensive.
6:24
Speaker 8: Yeah, and this is a part of the reason why
6:26
Speaker 8: our response to the tobacco sector always had to be
6:30
Speaker 8: about getting people to stop smoking because of this threat.
6:33
Speaker 8: And so you know, this is a collective response. We
6:36
Speaker 8: need to do more more important when let public know
6:40
Speaker 8: this isn't just about tax evasion. This is lying in
6:43
Speaker 8: the pockets of organized criminals.
6:45
Speaker 3: How many people smoke illegal cigarettes because there was one
6:48
Speaker 3: study that found something like forty percent of packets in
6:51
Speaker 3: the bin were illegal ones.
6:54
Speaker 8: Yeah, there's some studies that have done I mean that
6:56
Speaker 8: those studies really wouldn't with stend huge amount of scretioniny.
7:01
Speaker 8: What we go by is the survey results which we
7:04
Speaker 8: do every year around how many actual people are smoking.
7:07
Speaker 8: But the prevalence is clear. It's why I was really
7:11
Speaker 8: concerned about this reduced retailer network which we repealed and
7:15
Speaker 8: exist came in because if we've gone down to less
7:18
Speaker 8: and less legal locations, you'd end up with more and
7:20
Speaker 8: more illegal locations of buying cigarettes. So the prevalence is
7:25
Speaker 8: really difficult to.
7:25
Speaker 3: Sit point totally and this influx is inevitable. I mean,
7:29
Speaker 3: it's happened in Australia, It's going to happen here. Our
7:31
Speaker 3: taxes are even higher. It's fifty plus bucks for a
7:34
Speaker 3: packet of cigarettes. So the only way and what's worse
7:38
Speaker 3: are and Deed's done this look at it. They said
7:40
Speaker 3: that these illegal ones have even more harmful chemicals for people,
7:43
Speaker 3: including higher levels of uranium.
7:46
Speaker 8: Yeah, this is the part that you know. This is
7:49
Speaker 8: what we need to tell the public. The public have
7:51
Speaker 8: to be on board with us. We need people to
7:53
Speaker 8: quit smoking. And what Australia did worse than the size
7:57
Speaker 8: tax is they made less harmful al senatives almost impossible
8:02
Speaker 8: to get. So they did both. They taxed well higher
8:06
Speaker 8: than we are and anything that was less harmful they
8:10
Speaker 8: made prescription only. So we ended up with a double
8:13
Speaker 8: we mate, which is why they have seen the massive
8:16
Speaker 8: loss of an excise that they have and the criminal
8:20
Speaker 8: market that they've got.
8:20
Speaker 3: People aren't stupid, right, People are key wes know what
8:24
Speaker 3: they're doing with their bodies. At what point do you say,
8:27
Speaker 3: I do you say let's cut the excise on actual
8:30
Speaker 3: tobacco because I would rather use smoke a cigarette we
8:33
Speaker 3: know what's in it, rather than a uranium durry.
8:37
Speaker 8: This is the last paper I look forward to increase excise,
8:43
Speaker 8: as we do every year. That's an annual process. Was
8:46
Speaker 8: to review the excise regime completely and so yeah, that
8:51
Speaker 8: is part of the work that I'm doing as well,
8:53
Speaker 8: and part.
8:53
Speaker 3: Of that would be considering reducing the excise on tobacco.
8:57
Speaker 3: If if the alternative is that someone has smoke uranium cigarettes, I.
9:03
Speaker 8: Think the point that you've got to make is that
9:04
Speaker 8: we've reached the threshold where cost does not deter people
9:10
Speaker 8: from smoking. So therefore we've got to look at the
9:13
Speaker 8: other regimes that we've got to get people to stop smoking. Okay,
9:16
Speaker 8: it is a huge cost to our health system. We
9:18
Speaker 8: need people to stop smoking. This is the biggest threat
9:21
Speaker 8: we've got to our fantastic smoke free targets.
9:24
Speaker 3: All right, But just to clarify because the opposition or
9:28
Speaker 3: will go nuts over it, but it seems reasonable if
9:31
Speaker 3: the alternative is uranium, you are considering reducing excise on cigarettes, I'm.
9:39
Speaker 8: Considering a review of the excise and that's what we
9:42
Speaker 8: took forward to Kebinet that it's time that we've started
9:44
Speaker 8: to consider a view on how our excise structure is
9:49
Speaker 8: for all of these products, and I think that that
9:51
Speaker 8: is important.
9:52
Speaker 3: I appreciate your time this morning. That is the Customs Minister,
9:54
Speaker 3: Casey Costell. It always going to have be on the
9:56
Speaker 3: program seventeen minutes after five news talks, there be promptly
9:59
Speaker 3: prices next.
10:00
Speaker 1: The early edition full show podcast on iHeartRadio powered by
10:04
Speaker 1: News Talks at B Get ahead of the Headlines on
10:09
Speaker 1: early edition with Ryan Bridge and Spark for Business Technology
10:14
Speaker 1: that keeps business moving. News Talks AB.
10:17
Speaker 3: Very funny things Trump's saying about his new planes. So
10:19
Speaker 3: he's ordered a couple of Boeings. But the of course
10:23
Speaker 3: Boeing is delayed, delay delayed, four years late. Now for
10:27
Speaker 3: these two new planes. In the meantime, the Katari's given
10:29
Speaker 3: them a plane. It's an old Royal, one of their
10:32
Speaker 3: old Royal planes, so very lavish Interriors. It's had a
10:35
Speaker 3: four hundred million dollar retro fit. And Trump has made
10:39
Speaker 3: in flight to North Dakota where he's giving an opening
10:43
Speaker 3: of the Theodore Roosevelt Presidential Library. O case it gets on,
10:48
Speaker 3: the plane, does a press conference, and he says, because
10:50
Speaker 3: it's normally white and a sort of baby blue color scheme,
10:54
Speaker 3: you know their Force one and Force two. Well, he's
10:57
Speaker 3: gone with a red, white, navy and white for it,
11:00
Speaker 3: gold paint job. A thing looks like one of his
11:04
Speaker 3: personal jets, you know, with a big Trump logo on it.
11:07
Speaker 3: This will be the first flight of what I think
11:09
Speaker 3: is maybe the greatest commercial plane ever built. Quote number
11:13
Speaker 3: one Trump quote number two. You can do things two ways.
11:17
Speaker 3: You can low key it or you can show it.
11:19
Speaker 3: And I think the country should be very proud of
11:22
Speaker 3: this and I'm showing it. Ryan Bridge, twenty one after
11:26
Speaker 3: five right house prices, So if you own one, trying
11:29
Speaker 3: to sell one, going in the wrong direction for your
11:31
Speaker 3: cotality data shows a relative flatness down point two for
11:34
Speaker 3: the month, but further out the worst it gets average
11:37
Speaker 3: values down point eight for the previous quarter point nine
11:40
Speaker 3: year on year, still down seventeen and a half on
11:42
Speaker 3: early twenty to twenty two. Pick Rowden Christie, real estate
11:45
Speaker 3: agent with us this morning. Good morning, hello Ryan, how
11:49
Speaker 3: are you very well? Thank you? So prices aren't you
11:52
Speaker 3: taking off? But they sort of weren't expected to. What
11:57
Speaker 3: do you think is going to happen over the next year.
12:00
Speaker 9: Yeah, there's a question I get asked every day. Yeah,
12:03
Speaker 9: there's no doubt that totality that well, they're obviously looking
12:06
Speaker 9: at the statistics, but that's how we're also feeling in
12:09
Speaker 9: the market. I mean, the reality is the word is stables.
12:14
Speaker 9: The fluctuations which we've had over the last three years
12:16
Speaker 9: aren't really there. It's very stable. It's pretty flat, you know,
12:22
Speaker 9: economic concerns have been driving this to an extent. You know,
12:27
Speaker 9: we've had a market where buyers are taking a lot
12:29
Speaker 9: longer to make decisions due diligence periods are longer. Vendors
12:33
Speaker 9: have needed to be more realistic with their price expectations.
12:37
Speaker 9: What we're probably going to get I would say we'll
12:40
Speaker 9: be influenced by three main factors. Interest rate expectations. Again,
12:45
Speaker 9: they're slightly unpredictable. I think ASP yesterday what they reduced,
12:49
Speaker 9: some increased others. Whether the listing numbers begin to tighten,
12:55
Speaker 9: That is the absolute key here. It's the supply and
12:57
Speaker 9: demand market and we've had this huge volume of listings
13:02
Speaker 9: on the market. There's still a lot on the market,
13:05
Speaker 9: but now what we're seeing is the quality of those
13:08
Speaker 9: listings is dropping off. So there's a lot of tough
13:11
Speaker 9: stuff to sell. They may be problem problem properties, flood zones,
13:19
Speaker 9: construction some so maybe maybe if people are worried about
13:23
Speaker 9: how how unitary plans might be changing on them or
13:28
Speaker 9: their problem properties because vendors just want too much for them.
13:31
Speaker 9: But we're what we're finding now is the really good
13:34
Speaker 9: quality stock is falling off, and that is the key
13:38
Speaker 9: I think to seeing a market which may start to lift.
13:42
Speaker 9: And alongside that, of course, the big one is by
13:46
Speaker 9: a confidence heading into the spring, what will happen in
13:49
Speaker 9: Iran that's been driving this this this this slightly tough
13:54
Speaker 9: market of the last six months or so, and so
13:57
Speaker 9: by a confidence will will be the absolute chi. And
14:01
Speaker 9: then of course you've got that little thing called the
14:02
Speaker 9: election in November, which again is making some people slightly
14:06
Speaker 9: nervous about whether they'll just sit and wait. Goodness knows
14:09
Speaker 9: why you certain weight, but those are going to be
14:11
Speaker 9: the three factors. That one about supply and demand is
14:16
Speaker 9: the absolute chi. Though if inventory remains elevated, values will
14:21
Speaker 9: probably remain stable as they have been for the last
14:24
Speaker 9: six months.
14:25
Speaker 3: Fantastic reprud and appreciate that Rouden Christie real estate agent
14:28
Speaker 3: with us this morning with a good rep a good summary,
14:31
Speaker 3: actually exactly what the sit reppers with housing right now.
14:35
Speaker 3: Time is twenty four after five, and this good reason
14:39
Speaker 3: that you should worry about tax and about an election change,
14:42
Speaker 3: because it's kind of like be careful what you wish
14:45
Speaker 3: for on texting assets and texting housing are In Australia,
14:48
Speaker 3: the RBA is warning labor about its budget. You know,
14:51
Speaker 3: the budget, which they did the capital gains and they
14:54
Speaker 3: did the negative gearing added to well dwelling approvals. This
14:58
Speaker 3: is approvals for new homes have declined for the third
15:01
Speaker 3: consecutive month in May. This is a run unmatched since
15:05
Speaker 3: the peak of COVID in twenty twenty one for Australia. Now,
15:08
Speaker 3: Australia could probably do with a drop in house prices
15:11
Speaker 3: because they've been run away since COVID, but not like
15:14
Speaker 3: this and not this quick, because you've got tax changes.
15:17
Speaker 3: Plus you've got the RBA that's been hiking rates. You
15:20
Speaker 3: add those two things together and you have now the
15:23
Speaker 3: Reserve Bank warning that the property slowdown could drag the
15:29
Speaker 3: overall economy down with it. Good job charmis twenty five
15:34
Speaker 3: after five. News Talk ZBT is twenty seven after five.
15:37
Speaker 3: Don't you find it just a little bit annoying when
15:39
Speaker 3: some economists or think tank or some group comes to
15:42
Speaker 3: our country tells us what they think we need to
15:45
Speaker 3: do to make our country better. There's the odd case
15:48
Speaker 3: where you'd want to listen former world leaders, current world leaders,
15:51
Speaker 3: banks who leaned your money, rating agencies who dictate your
15:55
Speaker 3: cost of borrowing, Oh, listen to that. But your OECDS, IMF,
15:59
Speaker 3: you will banks of United Nations? Do we really care?
16:03
Speaker 3: They all come down here. Someone tells them that we
16:05
Speaker 3: don't have a capital gains tax and they say, ah, well,
16:08
Speaker 3: I know what you need, a capital gains tax and
16:11
Speaker 3: raise your penonage. The IMF is here doing this right now.
16:14
Speaker 3: They outline the problem quite well. We have a structural deficit.
16:18
Speaker 3: Government spends more than it earns. We all know this.
16:21
Speaker 3: It's borrowing money from the rest of the world just
16:23
Speaker 3: to keep our heads above water. It's struggling paycheck to paycheck,
16:26
Speaker 3: taking out payday loans to cover the in betweens. That's
16:29
Speaker 3: what we are. In fact, it's gotten so bad. I
16:32
Speaker 3: did some numbers on this, told you about it earlier
16:34
Speaker 3: this year. Next year, five and a half thousand dollars
16:39
Speaker 3: of taxes that you pay as a household will go
16:42
Speaker 3: straight to paying the interest bill on our debt five
16:46
Speaker 3: and a half grand a year, just an interest more
16:50
Speaker 3: than we spend on schooling our kids through primary and
16:53
Speaker 3: secondary insane right. Debt servicing is now the fourth largest
16:57
Speaker 3: line item on the government's books, according to Treasuries. So
17:00
Speaker 3: enter the OECD or the IMF or the OEI, MF
17:04
Speaker 3: who cares. Their solution a comprehensive capital gains tax that
17:09
Speaker 3: could raise the equivalent of one percent of GDP, roughly
17:12
Speaker 3: harving the country's fiscal deficit, A deficit they say we
17:16
Speaker 3: should pay down. Yeah. The problem with demanding more tax
17:22
Speaker 3: to pay for bad spending is that it encourages more
17:25
Speaker 3: waste and gluttony. It's like gorging on fast food, paying
17:29
Speaker 3: for the skinny jab and then getting fat all over again.
17:32
Speaker 3: You don't learn discipline, there are no consequences to it,
17:36
Speaker 3: and once the next structural deficit inevitably arrives, which will
17:42
Speaker 3: you know what, the im oecds will recommend another bloody tax.
17:46
Speaker 3: You can bet your bottom dollar. News Talks B We're
17:49
Speaker 3: Live to the State's Snacks.
17:54
Speaker 1: The early edition Full the Show podcast on iHeartRadio powered
17:58
Speaker 1: by News Talks a B on your radio and online
18:03
Speaker 1: on iHeartRadio. Belly Edition with Ryan Bridge and Spark for
18:07
Speaker 1: Business Technology, The Chief's Business Moving News Talks.
18:11
Speaker 9: That'd be.
18:23
Speaker 3: Twenty broaway from the six year old News Talks. It'd
18:25
Speaker 3: be great to have your company will heads. All the
18:27
Speaker 3: American news channels right now have choppers up in the
18:29
Speaker 3: air in New York city watching protests scaling the top
18:32
Speaker 3: of the Empire State Building. Mitch McCann's watching on. We'll
18:35
Speaker 3: head live to him. Kelli Echold inside the next fifteen
18:38
Speaker 3: On the IMF, they reckon, we need a capital gains tax,
18:40
Speaker 3: really do we? We'll debate that. Now. Let's staying in
18:45
Speaker 3: the States for just a second. You know, there's a
18:47
Speaker 3: bit of a socialist takeover happening within the Democratic Party.
18:51
Speaker 3: And you saw it with Mandami in New York, and
18:53
Speaker 3: you are now seeing it with a young woman twenty
18:56
Speaker 3: nine years old Democratic socialist who has toppled the incumbent
19:01
Speaker 3: of some twenty five years. Her name is Mallet Kiros,
19:05
Speaker 3: and this is in Colorado. The socialist takeover of the
19:08
Speaker 3: Dems continues.
19:09
Speaker 10: We will not wait to take the fight to Donald
19:13
Speaker 10: Trump and the oligarchy. We will not wait to abolish
19:17
Speaker 10: ice and pas mataicareproal and no, we will not wait.
19:22
Speaker 10: And the genocide in Palestine.
19:27
Speaker 3: Whoa Okay, Ryan Bridge show to Cullum in Dunedan Callum,
19:31
Speaker 3: Good morning morning, Ryan. Fortune Theaters for sale. It's the
19:36
Speaker 3: hot property on the market here.
19:38
Speaker 11: Potential buyers can submit a proposal on a potential purchase
19:42
Speaker 11: of the Old Fortune Theater building.
19:44
Speaker 3: It's a Heritage listed.
19:46
Speaker 11: Gothic style former church and it's situated on Stuart Street
19:51
Speaker 11: in Dunedin. Originally built in eighteen seventy it became a
19:54
Speaker 11: theater in nineteen seventy eight. But it's been sitting near
19:57
Speaker 11: vacant since May twenty eighteen and it costs the City
20:00
Speaker 11: Council more than one hundred and twenty thousand a year,
20:02
Speaker 11: so they want rid of it. The council says it's
20:05
Speaker 11: a unique opportunity for someone to give it a new
20:07
Speaker 11: lease of life and to turn it into something that
20:09
Speaker 11: would also benefit the city. Anyone interested. Ryan has until
20:12
Speaker 11: August seventeen to make a submission.
20:14
Speaker 3: How's your weather look?
20:17
Speaker 11: Another icy, treacherous morning on our roads here with sub
20:20
Speaker 11: zero temperatures.
20:21
Speaker 3: Twelve is our high but fine day and light ones.
20:23
Speaker 3: Nice one, Thank you Claire and christ each morning.
20:25
Speaker 12: Claire, good morning.
20:27
Speaker 3: Now the que bit of a problem for the boys'
20:30
Speaker 3: school there with the owners of the land that it's
20:35
Speaker 3: sitting on having to maybe sell.
20:37
Speaker 6: Yeah.
20:38
Speaker 13: So this is Saint Thomas of Canterbury College in Stockburn
20:41
Speaker 13: here in christ Church. It's an integrated school that's got
20:43
Speaker 13: a role of more than seven hundred boys. The land
20:46
Speaker 13: and the buildings for that school are owned by the
20:49
Speaker 13: trustees of Christian Brothers of New Zealand Charitable Trust. Now
20:52
Speaker 13: that group has given notice of seeking a court order
20:55
Speaker 13: to sell off all of the assets. That would include
20:58
Speaker 13: the land that the school sits on, also the classrooms
21:01
Speaker 13: and it's reportedly for the church to pay sexual abuse
21:04
Speaker 13: victims in Australia. Now Principal Steve Hart has issued a
21:07
Speaker 13: statement to our newsroom overnight. He says, look, whether this
21:10
Speaker 13: plan goes ahead or not is simply a matter for
21:12
Speaker 13: the courts, but what he can say is that the
21:14
Speaker 13: school board will oppose it and remain committed to educating students.
21:18
Speaker 13: They say they will work with the Ministry of Education
21:20
Speaker 13: and the Catholic Diocese of christ It as this matter
21:23
Speaker 13: progresses in order to find the right solution.
21:26
Speaker 3: All right, how's your weather?
21:27
Speaker 13: Much warmer here?
21:28
Speaker 8: This morning?
21:29
Speaker 13: Should be fine for much of the day, but a
21:30
Speaker 13: fog about, light winds and the high will be eleven to.
21:33
Speaker 3: Bes in Wellington to Bes. Good morning morning, Ryan. So
21:36
Speaker 3: how do you boost economic growth in your city? You
21:38
Speaker 3: start up a new advisory group, you sure.
21:41
Speaker 14: Do, and three of them actually so three expert groups
21:44
Speaker 14: have been tasked with proposing a plan which outlies growth
21:47
Speaker 14: over a five year period. These fall under Property and Infrastructure,
21:51
Speaker 14: Technology and Innovation and Arts in Hospitality. They were initially
21:56
Speaker 14: announced in May after Meyor Andrew Little scrapped the ones
21:59
Speaker 14: established by Tory Farno. He says people have been elected
22:02
Speaker 14: for their skills and experience in a shaped commitment to
22:05
Speaker 14: unlocking the capital's economic potential. Among them a CEO of
22:10
Speaker 14: Wellington's Chamber of Commerce, Hailey horn On the Tech Group,
22:13
Speaker 14: CEO of Worldware of a lartce Meg Williams in the
22:16
Speaker 14: Creative World, and various property developers and well the Property Group.
22:20
Speaker 14: The groups will meet coarterly and operate in an advisory
22:23
Speaker 14: capacity only. And it's all voluntary and unpaid.
22:26
Speaker 3: Ah okay, that somewhat saves the story, but better Yes,
22:31
Speaker 3: how's your weather?
22:33
Speaker 14: Pretty mild today, mostly cloudy, possible morning drizzle and twelve degrees?
22:37
Speaker 14: How high in Wellington?
22:38
Speaker 3: Blood was getting hotter and hotter and hotter neither good morning?
22:41
Speaker 15: I could tell through your eyes.
22:43
Speaker 3: Hey, Auckland's rates rise me now, it's happening seven point eight,
22:46
Speaker 3: seven point nine percent. But you've got some exclusive new polling.
22:50
Speaker 15: Yes, exactly, so new Ratepayers Alliance Curier polling release exclusively
22:55
Speaker 15: to News Talks B. Now this is found only twenty
22:58
Speaker 15: eight percent of people think that Wayne Brown is keeping
23:00
Speaker 15: to his rates and spending commitments. Forty six percent of
23:04
Speaker 15: respondents think he isn't the Alliance spokesperson, that's Josh van Veen.
23:09
Speaker 15: He says the mayor has got to get his message
23:12
Speaker 15: out there loud and clear and needs to limit the
23:14
Speaker 15: rates rise next year. And Brown has always said, as
23:17
Speaker 15: we know that this rates rise is mostly needed to
23:19
Speaker 15: cover that cost of the city rail link.
23:21
Speaker 3: Yes, indeed, how's our weather fine?
23:23
Speaker 15: Apart from pictures of morning fog, fifteen is a high
23:25
Speaker 15: here in Auckland.
23:26
Speaker 3: Nice one, thank you very much. Neither time is nineteen
23:29
Speaker 3: minutes away from.
23:30
Speaker 8: Sex Ryan Bridge.
23:31
Speaker 3: So you know how Trump tried to put some controls, Well,
23:34
Speaker 3: the Trump administration puts some controls online thropic and thropic
23:37
Speaker 3: is the AI model, the one that really got carried
23:41
Speaker 3: away mythos where you can do all sorts of potentially
23:46
Speaker 3: do all sorts of dangerous and nefurious things. Would the
23:49
Speaker 3: technology and anyone would be able to do it, so
23:52
Speaker 3: you'd have your North Koreans, you'd have your Iran, you'd
23:56
Speaker 3: have the Russians that'd all be in there using mythos,
23:59
Speaker 3: firing off cyber attacks at other countries. So Trump says, well,
24:03
Speaker 3: let's put some guardrails on it. Well, they're now lifting
24:06
Speaker 3: the guard rails the e Commerce Department? Why and export
24:09
Speaker 3: controls on it too?
24:10
Speaker 9: Why?
24:11
Speaker 3: Well, because China was getting one up on them. And
24:14
Speaker 3: if there's one thing worse then you know, global catastrophe
24:19
Speaker 3: because of a product that you make, it's someone else
24:22
Speaker 3: been able to cause that global catastrophe before you. News
24:25
Speaker 3: Talk said be eighteen to six live to New York.
24:27
Speaker 1: Next International Correspondence with ends and Eye Insurance Peace of
24:32
Speaker 1: Mind for New Zealand.
24:33
Speaker 3: Business Talks said be we'll talk IMF for Kelly Colden.
24:37
Speaker 3: Just the second. First to Mitch McCann, a US correspondent
24:40
Speaker 3: stateside for US. Mitch, who is scaling the top of
24:42
Speaker 3: the Empire State Building right now? What's going on?
24:45
Speaker 6: Yeah?
24:46
Speaker 16: Hi, Ryan, Well, look, police are trying to work out
24:48
Speaker 16: who this says. Two people have claimed to the top
24:50
Speaker 16: of the Empire State Building in the last couple of
24:52
Speaker 16: hours and they unfilled a banner that says when the
24:56
Speaker 16: power of love beats the power the love of power
24:59
Speaker 16: the world. So I don't know if they protest, you
25:01
Speaker 16: know what they're on about. But it's reported that they
25:04
Speaker 16: then climbed down from the building's spire and one of
25:08
Speaker 16: them asked the other to marry them. They proposed and
25:12
Speaker 16: kissed before continuing to descend down the Empire State Building.
25:15
Speaker 16: But Lease say they're now in custody and they're trying
25:17
Speaker 16: to work out who these people are. There are some
25:20
Speaker 16: reports they may be involved in this documentary series where
25:23
Speaker 16: a couple climbs famous buildings around the world.
25:26
Speaker 3: But they're still trying to work out if that's the
25:28
Speaker 3: case or not. How bizarre. Anyway, it was quite transfixed.
25:32
Speaker 3: The cable news networks were for a week few hours
25:36
Speaker 3: there now tell me about the Speaking of Love and
25:39
Speaker 3: Speaking of marriage. That all of the rumors about Taylor Swift,
25:43
Speaker 3: are they true at Madison Square Garden or are they
25:45
Speaker 3: not true?
25:46
Speaker 16: All it looks is that they might be because there's
25:48
Speaker 16: a lot of trucks, a lot of cars are setting
25:50
Speaker 16: up outside Madison Square Garden. This is reportedly for Taylor
25:53
Speaker 16: Swift's wedding, which is set to take place this Friday.
25:57
Speaker 16: So these two events at Madison Square Garden one reportedly
26:00
Speaker 16: are one hundred person event on Thursday and then a
26:04
Speaker 16: one thousand event a person event on Friday. Now Madison
26:08
Speaker 16: Square Garden holds around twenty thousand people, so there's going
26:10
Speaker 16: to be a lot of blank space. Actually ryan a
26:13
Speaker 16: lot of blank space around there on Friday. But it's
26:16
Speaker 16: reported that a lot of the Kansas City Chiefs that's
26:19
Speaker 16: Traviskewsey's football team have booked hotels around Times Square. There's
26:23
Speaker 16: a lot of celebrities expected in New York, but Taylor
26:26
Speaker 16: Swift has trekted the priests before, so it's possible she's
26:29
Speaker 16: already married, or she's getting married somewhere else.
26:32
Speaker 3: Altogether could be a ruse. Yeah, I haven't. The whole
26:34
Speaker 3: thing's a ruse. Mitch Pecan, our US correspondent in New
26:36
Speaker 3: York time is thirteen minutes away from six. By the way,
26:40
Speaker 3: Trump earned more than a billion dollars from cryptocurrency ventures
26:43
Speaker 3: last year. A billion that's US, so one point seven
26:46
Speaker 3: billion New Zealand dollars. Half of that came from selling
26:49
Speaker 3: tokens that the family's crypto firm World Liberty Financial created,
26:53
Speaker 3: So just selling tokens online. You get six hundred million dollars,
26:57
Speaker 3: so a billion extra from other business dealings, including his
27:01
Speaker 3: property empire. This is all stuff that he's had to
27:03
Speaker 3: release and make public. He says, none of it, one
27:07
Speaker 3: dollar of it is a conflict of interest, So believe
27:11
Speaker 3: what you will. Twelve minutes away from six now, the
27:13
Speaker 3: IMF's given to New Zealand a fairly positive report card.
27:16
Speaker 3: Says government and Reserve Bank have steared the economy reasonably
27:19
Speaker 3: well despite the tropity waters, the oil shock, et cetera.
27:22
Speaker 3: Forecasting GDP growth at two percent this year, rising to
27:25
Speaker 3: two point seven next year in fation peaking at four percent,
27:29
Speaker 3: and they say we need a capital gains tax. Kelli
27:31
Speaker 3: yea cold Westpac chiev economists with us this morning. Kelly,
27:33
Speaker 3: good morning, good morning. Are they just copied your forecast,
27:37
Speaker 3: didn't they?
27:38
Speaker 8: Yeah?
27:39
Speaker 17: Well, you know, the as you know, I used to
27:42
Speaker 17: work at the IMF for twelve years up and two
27:44
Speaker 17: a few years ago. And the thing about the IMF,
27:47
Speaker 17: as we always used to joke in the hallway, as
27:50
Speaker 17: we're always three.
27:50
Speaker 8: Months too late.
27:53
Speaker 17: It's a very large bureaucratic organization. Or their forecast had
27:57
Speaker 17: to be approved by to the parts in HQ before
28:01
Speaker 17: they got off the plane, and as a result, whatever
28:04
Speaker 17: has happened in the last six weeks will not be
28:06
Speaker 17: figuring very heavily. And what they're talking about yesterday, Kelly, I.
28:10
Speaker 3: Just very seriously for a second on the ICR. You
28:14
Speaker 3: know that there are some saying two, some saying three
28:17
Speaker 3: hikes this year, given that oil is coming down and
28:20
Speaker 3: coming down quite quickly, Given that all of those different factors,
28:25
Speaker 3: what do you reckon in terms of OCR Do we
28:28
Speaker 3: need to hike it before October?
28:34
Speaker 17: Well maybe in September, But I.
28:36
Speaker 8: Mean, this is a good point. It was kind of
28:38
Speaker 8: related to my.
28:38
Speaker 17: Little quip there, right, Like I mean, basically the IMS
28:41
Speaker 17: prescription was orientated as if we were still six weeks
28:44
Speaker 17: ago when oil was over one hundred bucks of barrel
28:47
Speaker 17: and you basically had no idea how this was, how
28:50
Speaker 17: long this is going to go on for now we've
28:53
Speaker 17: basically done a round trick to where we were before
28:55
Speaker 17: the war. And you know, in start of the war,
28:58
Speaker 17: basically the the Brazil Bank was saying that they ever
29:03
Speaker 17: had to raise rates in December, which I think is
29:06
Speaker 17: still a reasonable possibility. That's where we go back to
29:09
Speaker 17: or at the start of the war in March, they
29:12
Speaker 17: were saying, well, it's a supply shock, you know, it
29:15
Speaker 17: goes up, it goes down very quickly, but it's not
29:17
Speaker 17: going to really impact on medium term inflation pressures. Well,
29:20
Speaker 17: I mean, hello, we're at seventy two bucks a barrel.
29:23
Speaker 17: Petrol's below three bucks a barrel probably be sort of
29:26
Speaker 17: like towards two seventy two eighty and a couple of
29:29
Speaker 17: months or so. So the idea that you need to
29:32
Speaker 17: start tightening perhaps almost six months earlier than you were
29:35
Speaker 17: saying before. I reckon that biggest belief.
29:38
Speaker 3: Yeah, oh, I'm glad you said that. Now, just on
29:40
Speaker 3: the IMF report itself, they have like the OECD, like
29:44
Speaker 3: everyone who comes here for a visit, they go, oh,
29:46
Speaker 3: you don't have a capital gains tax? Will you need one?
29:49
Speaker 9: Is that?
29:50
Speaker 3: And where they reckon one percent of GDP would have
29:52
Speaker 3: our deficit? All sounds great in theory, but do you
29:55
Speaker 3: not then just encourage the same type of spending, you know,
29:59
Speaker 3: give them an they'll take a mile, and then next
30:01
Speaker 3: time we have a deficit, they'll say, well, extend your
30:03
Speaker 3: capital gains tax, you know, And it's sort of this
30:06
Speaker 3: never ending story of spend debt and then tax.
30:11
Speaker 12: Well.
30:11
Speaker 17: I mean there is the truth, right Like, as soon
30:13
Speaker 17: as a new source of income it's found by the government,
30:16
Speaker 17: then it's the finding of the wedge. Once you've gone
30:19
Speaker 17: to the well, once you'll be very happy to go
30:21
Speaker 17: back there in the future.
30:23
Speaker 8: I Mean.
30:23
Speaker 17: One of the I think more disappointing things with the
30:25
Speaker 17: funds analysis here is that basically just quietly said, oh yeah,
30:29
Speaker 17: the fact that it's going to take maybe four or
30:32
Speaker 17: five years to give back the surplus. The fact that
30:34
Speaker 17: you've got a structural deficit sitting in there that you're
30:38
Speaker 17: not really taking any immediate action on is fine, and
30:43
Speaker 17: that's very non imf Like this capital gains tax, I mean,
30:48
Speaker 17: I think it probably has a whole lot of merits
30:50
Speaker 17: to it, but for different reasons. I don't think you're
30:52
Speaker 17: going to get much money out of it, but it
30:55
Speaker 17: probably is useful in resetting the table in terms of
30:58
Speaker 17: the sorts of investment options people should be thinking about
31:01
Speaker 17: where there may be no capital gauge to tax once
31:04
Speaker 17: you get this thing in So if you no text,
31:08
Speaker 17: then you're not going to be spending it on anything,
31:10
Speaker 17: and you're left to find some other way of closing
31:11
Speaker 17: the depicit.
31:12
Speaker 3: One percent, Kelly, And if you look at the one
31:14
Speaker 3: that's been announced for this election campaign, it's already just
31:18
Speaker 3: going to cover the cost of some doctors. Kelly E.
31:20
Speaker 3: Cold who is Westpact time is eight minutes away from six.
31:24
Speaker 3: By the way, some excellent news if you are China,
31:27
Speaker 3: if you are Japan, if you are career on manufacturing,
31:30
Speaker 3: So China they're manufacturing conditions measure based and p Global
31:35
Speaker 3: improved further in June, completing their strongest quarter since twenty twenty.
31:39
Speaker 3: So basically, factories are cranking in China, factories are cranking
31:43
Speaker 3: in Japan. In fact, they're indexes or in disease are
31:47
Speaker 3: at eight year highs, the US four year highs for factory.
31:51
Speaker 3: South Korea is now becoming like Taiwan's is. According to
31:55
Speaker 3: Interest dot Co, Korean exports are up seventy one percent
31:58
Speaker 3: in May from a year ago to a record one
32:00
Speaker 3: hundred billion dollars for the month. Taiwan, by the way,
32:04
Speaker 3: exported seventy eight billion in May. That was up fifty
32:07
Speaker 3: two percent on a year ago. So the tech boom
32:09
Speaker 3: is helping those guys. A lot. Factories and exports in
32:13
Speaker 3: Asia doing well seven to six before.
32:16
Speaker 1: The news breaks. Here at first Ryan Bridge on early
32:20
Speaker 1: edition with Spark for Business Technology, the Keiths Business Movie
32:24
Speaker 1: News talks.
32:25
Speaker 3: That'd be England and Congo. This is FIFA World Cup.
32:28
Speaker 3: England is up to one at the moment and there's
32:32
Speaker 3: five more plus minutes on the clock. Harry Jane, it's
32:37
Speaker 3: kingo woo oh wow. Indeed, Mike's here, Hey Mike, Hey, Ryan,
32:47
Speaker 3: how are you feeling today?
32:48
Speaker 12: I'm feeling amazing. Actually, I saw Harry Kane's goal a
32:51
Speaker 12: moment ago. He's he's got both goals, but the second goal.
32:54
Speaker 12: His first goal was a header of you know you'd
32:58
Speaker 12: expected to go in, but his second goal all came
33:00
Speaker 12: from nothing and it was impressive. So why he doesn't
33:04
Speaker 12: have a knighthood, I've got no idea. I assume they
33:06
Speaker 12: need to win the World Cup to get a knighthood.
33:07
Speaker 3: Jump revery high to get those head butts, don't they.
33:10
Speaker 3: I mean when you look on head butts, there their heads.
33:13
Speaker 12: I mean if your head button them, that's a penalty,
33:14
Speaker 12: which is hold head the ball.
33:17
Speaker 3: But when you look, you know, you look at it
33:18
Speaker 3: on camera and it all happen so quickly. But then
33:20
Speaker 3: when you go back to the still photos and you
33:23
Speaker 3: see how high these.
33:26
Speaker 12: These are real athletes. There's no question about that. Nikola
33:29
Speaker 12: willis this morning for you on the who do you
33:31
Speaker 12: mentioned the eel? I'm sort of on your side with
33:33
Speaker 12: the old iron if it's the counter aright, Now, counter
33:37
Speaker 12: argument is this. I like the idea of outside eyes
33:39
Speaker 12: looking in for an observation. You don't take them seriously.
33:42
Speaker 12: You don't have to do everything. That's but you know,
33:44
Speaker 12: just just it's.
33:44
Speaker 3: Like the consult. But but did you hear what Cali
33:47
Speaker 3: Ekol just said. He said he worked for the IMF
33:49
Speaker 3: for years and years and years, and he said it
33:51
Speaker 3: that they always joke they were three months behind. Had
33:53
Speaker 3: to get signed off before you get off the plane.
33:55
Speaker 3: Everything gets signed off by three different people.
33:57
Speaker 12: I also saw on the news they appeared to be
33:59
Speaker 12: in some sort of Mariah room yesterday when the bloke
34:02
Speaker 12: delivered the report and everyone had to take their shoes off,
34:05
Speaker 12: which of course is you know and Mariah, that's what
34:06
Speaker 12: you do. But I'm thinking of you, why are you
34:09
Speaker 12: going to a Mariah type room to do a press
34:11
Speaker 12: conference and then go through the hassle of having everyone
34:13
Speaker 12: take their shoes off?
34:14
Speaker 3: Asked Nicholas, I might have to do that right, Mike's next.
34:18
Speaker 3: You're on news Talk set B Happy Thursday.
34:24
Speaker 1: For more from Early Edition with Ryan Bridge. Listen live
34:27
Speaker 1: to News Talk said B from five am weekdays, or
34:30
Speaker 1: follow the podcast on iHeartRadio