Latest / Early Edition with Ryan Bridge / Full Show Podcast: 22 September 2026

Transcript

Full Show Podcast: 22 September 2026 · Early Edition with Ryan Bridge

0:00
Speaker 1: The issues, the interviews and the insight. Ryan Bridge on
0:05
Speaker 1: Early Edition with Spark for Business. Technology that keeps business moving.
0:09
Speaker 1: Newstalk ZB.
0:10
Speaker 2: Good morning, welcome to Tuesday. Great to have your company,
0:13
Speaker 2: Six After Five. We'll look at Anthony Albanese's awkward UN
0:16
Speaker 2: moment this morning. Fees-free university policy, some new numbers on that.
0:20
Speaker 2: Cameron Bagri on us whipping out the credit card and
0:23
Speaker 2: Labour's landlord tax, so-called landlord tax U-turn. The agenda. It
0:31
Speaker 2: is Tuesday the 22nd of September. World leaders in New York.
0:33
Speaker 2: This is for the UN General Assembly. Trump's there. She's there.
0:36
Speaker 2: Everyone's there. Well, not us. War, climate, AI, all on
0:40
Speaker 2: the agenda, as you can imagine, but also trade talks
0:43
Speaker 2: between the US and China are going to be held.
0:46
Speaker 3: Setting up a mechanism. So it's going to be called
0:49
Speaker 3: the US-China AI Dialogue. We've agreed to meet again.
0:55
Speaker 2: We have The U.S.
0:58
Speaker 3: Has proposed that we have a notification mechanism between the
1:03
Speaker 3: two countries, and we want a shared vision of common
1:09
Speaker 3: goals and common threats.
1:10
Speaker 2: Trump and Xi state visit in Washington in a couple
1:13
Speaker 2: of days' time. Back to the media, the war with
1:16
Speaker 2: the media that Trump's starting ahead of the midterms because
1:18
Speaker 2: he needs to hate the media ahead of the midterms.
1:20
Speaker 2: It ignites the base. while the media heading back to Storingham.
1:24
Speaker 4: CNN, they were marked down as a pool today. They,
1:27
Speaker 4: of course, have had their passes rescinded. They're not allowed
1:30
Speaker 4: anywhere near Donald Trump because of his edict last week.
1:33
Speaker 4: So they can't do the pool. In solidarity, other networks
1:36
Speaker 4: who might have said, well, you can't do it, we'll
1:38
Speaker 4: step in. They've said, no, no, no, we stand in solidarity.
1:42
Speaker 4: The effect is that when he makes his way to
1:46
Speaker 4: New York today, Donald Trump will not have the network
1:49
Speaker 4: news pool in tow.
1:51
Speaker 2: To Germany, we've got more results out of the polls
1:54
Speaker 2: of the weekend, and they are bad, bad, bad for
1:56
Speaker 2: Frederick Mertz. His approval rating is just 13% now. That
2:00
Speaker 2: is the lowest for any German chancellor since polling began.
2:04
Speaker 2: Doesn't get worse. The CDU, his party, so they've now
2:07
Speaker 2: had three bad results in three state elections. including they
2:12
Speaker 2: failed to even get over the 5% threshold in North Germany.
2:15
Speaker 5: The election results change nothing about the problems that our
2:18
Speaker 5: country faces. And at the same time, we see that
2:22
Speaker 5: the political pace of change and the need for compromise
2:27
Speaker 5: has led to concerns and even open opposition from the population.
2:31
Speaker 5: So we need to make it clear just how important
2:34
Speaker 5: stability and a clear course are.
2:38
Speaker 1: Before the news breaks, here at first, Ryan Bridge on
2:42
Speaker 1: early edition with Spark for Business, technology that keeps business moving.
2:46
Speaker 2: Newstalk ZB. 9292 is the number to text. The time
2:50
Speaker 2: is nine minutes after five. There's a bit of a
2:51
Speaker 2: shift going on with our immigration numbers. We had some
2:55
Speaker 2: out yesterday from MB. So the number, and it's basically
2:58
Speaker 2: moving away from residence visas, but we have more work
3:03
Speaker 2: and student visas being issued here. So more workers, more students,
3:06
Speaker 2: fewer residents. These are the numbers. Foreign workers on work
3:10
Speaker 2: visas at the end of August up 4.2% year on year.
3:15
Speaker 2: Overseas student numbers up 9.2%. Residence visas, the opposite. 47,500
3:21
Speaker 2: of them approved in the 12 months to August. That's
3:25
Speaker 2: down almost 10% year on year. Interesting, hey. Meanwhile, over
3:29
Speaker 2: in Australia, they've got a... I told you yesterday about
3:31
Speaker 2: that Albanese poll. He's had a shocker too. I mean,
3:34
Speaker 2: if you're a politician in power right now, then you're
3:36
Speaker 2: probably having a bad time. Look at Trump. Look at Stana,
3:40
Speaker 2: and he's been there like a couple of weeks. Look
3:42
Speaker 2: at Albanese. Look at Mertz. Don't look at Carney, because
3:47
Speaker 2: Carney's doing well. But anyway... This is about immigration. It's
3:50
Speaker 2: a poll. So it's the same poll from yesterday, but
3:52
Speaker 2: they've got a different question that they're releasing now. So
3:55
Speaker 2: two thirds of Australians, including 44% of Labour voters, want
4:00
Speaker 2: fewer migrants allowed into Australia. Two thirds of Aussies want
4:05
Speaker 2: fewer migrants. And it's interesting, you get 37% of voters
4:09
Speaker 2: want a lot fewer and 29% want fewer. It's pretty conclusive,
4:16
Speaker 2: pretty overwhelming, and that's why we have seen the Labour
4:20
Speaker 2: government lowering net overseas migration to 225,000. That's their goal
4:26
Speaker 2: by 2027. You've got the coalition, Taylor. He'll be announcing
4:31
Speaker 2: his plan by November, so sometime in the next few months.
4:35
Speaker 2: And then, of course, there's One Nation who says, let's
4:37
Speaker 2: slash and burn the whole thing. We want 130,000 max.
4:40
Speaker 2: Time is 10 after five. Coming up next, we will
4:44
Speaker 2: look at Labour's little U-turn. What's really behind this? Because
4:49
Speaker 2: they've been hammering this thing. They said when National introduced
4:53
Speaker 2: the interest deductibility or brought back the interest deductibility after
4:58
Speaker 2: they took it away in the previous government, This current
5:01
Speaker 2: Labour Party described that as a disdain for New Zealanders
5:06
Speaker 2: and a disdain for low-income New Zealanders because you were
5:11
Speaker 2: giving the landlords a tax break. Now, they're keeping it going.
5:15
Speaker 2: What gives? Newstalk ZB. Hear it first.
5:25
Speaker 1: Ryan Bridge on early edition with Spark for Business. Technology
5:29
Speaker 1: that keeps business moving.
5:30
Speaker 2: News Talk ZB. Thirteen after five. Great to have your
5:33
Speaker 2: company this morning. So ANZ's the latest to revise its
5:37
Speaker 2: track of where the OCR is going to go, where
5:39
Speaker 2: interest rates are going to go, where your mortgage rate
5:41
Speaker 2: might go. So they have changed the forecast. They were
5:43
Speaker 2: expecting to hit 3% within six months. They now say
5:48
Speaker 2: we will hit 3.5% within six months. Twice as, two
5:52
Speaker 2: early hikes next year and one this side of Christmas.
5:55
Speaker 2: In fact, the date they've given is October 28th. So yes,
5:58
Speaker 2: right before the election. What is the reason? Well, it's
6:01
Speaker 2: all the usual stuff. Well, good and bad, actually. Oil price,
6:04
Speaker 2: refining margins, lower exchange rate. Add to that the fact
6:08
Speaker 2: the economy's at a better starting point than the central
6:10
Speaker 2: bank had assumed and you've got yourself some rate hikes
6:12
Speaker 2: coming 14 minutes after five. Brian Bridge. Chris Hipkins making
6:16
Speaker 2: a major call ahead of the election.
6:18
Speaker 6: We're not going to be making any changes. to the
6:20
Speaker 6: current rules around interest deductibility. We did foreshadow when we
6:25
Speaker 6: announced a capital gains tax that that was changing our
6:27
Speaker 6: thinking around how we would look at interest deductibility in
6:30
Speaker 6: the future, and that has now been confirmed. We won't
6:32
Speaker 6: make any changes to the rules as they stand today.
6:35
Speaker 2: Robin Walker, Deloitte tax partner with us this morning. Robin,
6:38
Speaker 2: good morning.
6:39
Speaker 7: Good morning.
6:39
Speaker 2: Now, there's political reasons going on here, all that sort
6:42
Speaker 2: of stuff, but from a tax perspective, what do you
6:44
Speaker 2: think they made this change for?
6:48
Speaker 8: I mean, it makes complete sense to me to not
6:51
Speaker 8: have interest denial if you've got a capital gains tax.
6:55
Speaker 8: When we had the last set of interest deductions being
6:58
Speaker 8: denied back in 2021, what actually happened was that if
7:02
Speaker 8: you were taxable on the sale of the property, you
7:05
Speaker 8: would actually get to take a deduction for all of
7:07
Speaker 8: the denied interest at the point of sale. because that's
7:13
Speaker 8: all part of the equation to determine whether you've made
7:15
Speaker 8: a capital gain. So all you're actually doing if you're
7:18
Speaker 8: denying interest deductions and having a capital gains tax is
7:21
Speaker 8: deferring when those interest deductions get made. So logically, what
7:27
Speaker 8: would happen if they denied interest deductions is that their
7:30
Speaker 8: revenue from a capital gains tax would go much further
7:33
Speaker 8: down from what it's currently forecast to be.
7:37
Speaker 2: Are the numbers the same? So if you sell a house,
7:40
Speaker 2: it would depend on what proportion of property owners sold
7:43
Speaker 2: a house for a profit, wouldn't it? Whereas everyone gets
7:47
Speaker 2: to claim their interest if they are owning a rental
7:50
Speaker 2: property and making money out of that, then you can
7:53
Speaker 2: claim your interest as a deduction. But not everybody would
7:57
Speaker 2: be necessarily making a profit and therefore taxed on their
8:00
Speaker 2: capital gain.
8:02
Speaker 8: Yeah, well, it all comes down to everybody's individual circumstances. So,
8:07
Speaker 8: I mean, interest is part of that, just part of
8:10
Speaker 8: the equation as to whether there is a gain. Obviously,
8:13
Speaker 8: if you're denying interest deductions, it might look like your
8:17
Speaker 8: residential property is more profitable, and you might think that
8:21
Speaker 8: you're selling it for a gain, but when you add
8:23
Speaker 8: up all those interest deductions, you might find at the
8:26
Speaker 8: point of sale that it is actually in a lost position.
8:29
Speaker 2: So do you reckon, how bad would this have made
8:31
Speaker 2: their capital gains look, their capital gains tax look, if
8:35
Speaker 2: they had gone ahead with capital gains and they had
8:38
Speaker 2: continued kept or reintroduced a kibosh on deductibility, would they
8:43
Speaker 2: have ended up with two-fifths of a bugger all to
8:45
Speaker 2: pay for the health visits they'd promised?
8:49
Speaker 9: Yes.
8:49
Speaker 8: I mean, that would be my expectation. They'd have more
8:53
Speaker 8: revenue immediately, though, from denying those interest deductions. So it's
8:58
Speaker 8: a bit of swings and roundabouts. But when you're committing
9:00
Speaker 8: your capital gains tax revenue to a particular spending objective,
9:05
Speaker 8: then it would have impacted on those numbers.
9:08
Speaker 2: Fascinating. Do you think they knew this all along or
9:11
Speaker 2: do you think they just figured it out as they went?
9:15
Speaker 8: You would think that they should have known because they
9:18
Speaker 8: did introduce the interest deductibility restrictions a few years ago
9:22
Speaker 8: and that did have this particular rule which allowed deductions
9:26
Speaker 8: at the point of sale. But that said, those rules
9:30
Speaker 8: were incredibly complex. I just looked up the guidance from
9:34
Speaker 8: when they were introduced yesterday And it was 216 pages
9:38
Speaker 8: just to explain how the rules worked. So it might
9:41
Speaker 8: sound simple, but it's fiendishly complicated.
9:45
Speaker 2: Sounds like something you're better at doing than me, Robin.
9:47
Speaker 2: Thank you, Robin Walker, Deloitte tax partner with us this morning.
9:50
Speaker 2: It's 17 minutes after five. So over in America, price
9:55
Speaker 2: for a gallon of diesel now up for the first
9:57
Speaker 2: time over $ 6, 500. Iran war, the fact that Russia's now
10:02
Speaker 2: got export controls on because the Ukrainians have been pounding them,
10:06
Speaker 2: have been pounding their oil refineries, that's having an effect.
10:10
Speaker 2: And you can expect inflation because you've got all of
10:13
Speaker 2: your lorries, all of your trains, all of your power
10:15
Speaker 2: generators over there. Diesel, diesel, diesel. 18 after 5, Newstalk
10:21
Speaker 2: ZB will look at credit card spending in New Zealand next.
10:24
Speaker 1: The Early Edition full show podcast on iHeartRadio, powered by
10:28
Speaker 1: Newstalk ZB. The first word on the news of the day.
10:34
Speaker 1: Early Edition with Ryan Bridge and Spark for Business. Technology
10:39
Speaker 1: that keeps business moving. Newstalk ZB.
10:42
Speaker 2: Newstalk ZB, great to have you company this morning. So
10:45
Speaker 2: we've had an election in Russia. Guess who won? No
10:47
Speaker 2: prizes for guessing, but Putin's party won. So the pro-Kremlin
10:51
Speaker 2: party won a record 355 seats in the country's 450-seat
10:55
Speaker 2: lower house. United Russia, a supermajority bigger than its previous
11:00
Speaker 2: 2016 record of 343 seats. Of course, there were no
11:06
Speaker 2: international election observers. No, thank you. We don't want you peaking.
11:10
Speaker 2: And the Supreme Court last month banned the only party
11:13
Speaker 2: that was against the war.
11:14
Speaker 1: Ryan Bridge.
11:16
Speaker 2: 21 after 5. More of us are relying on our
11:18
Speaker 2: credit cards to pay for stuff as the cost of
11:20
Speaker 2: living pressures bite. Kiwi Bank data shows credit cards accounted
11:23
Speaker 2: for a record 71.1% of card spending in August. That's
11:26
Speaker 2: the highest since records began in 2002. Debit cards, almost 30%.
11:31
Speaker 2: Cameron Bagri, independent economist with me this morning. Cameron, good morning.
11:35
Speaker 2: Good morning. What is this telling you?
11:38
Speaker 10: Well, we certainly like to use the cards. That's just,
11:41
Speaker 10: you know, we've become increasingly a cashless society. and credit
11:45
Speaker 10: cards are a pretty big component to that. So if
11:48
Speaker 10: you look at the general data across New Zealand, we
11:51
Speaker 10: spent $ 9. 4 billion on cards in the month of August,
11:56
Speaker 10: credit cards were 70% of that. If I ever look
11:59
Speaker 10: at how we're using our credit cards in general, are
12:02
Speaker 10: we seeing credit card utilisation or growth in credit card
12:07
Speaker 10: billings go up in excess of economic growth? The answer
12:10
Speaker 10: is no. In fact, you know, we're starting to see
12:13
Speaker 10: credit card utilisation diminish. We're actually putting a little bit
12:16
Speaker 10: less on the plastic, but it's still a pretty big
12:18
Speaker 10: component of spending out there.
12:20
Speaker 2: And just because you put something on a credit card,
12:22
Speaker 2: it doesn't mean you're in financial stress?
12:25
Speaker 10: No, it's just that it's the modern society. The big
12:28
Speaker 10: number I keep an eye on with credit cards is
12:31
Speaker 10: whether we're actually paying the numbers off each month, and
12:33
Speaker 10: unfortunately we don't. Typically, so we'll put... about $ 4 or
12:38
Speaker 10: $ 5 billion on the credit card. If you look at
12:40
Speaker 10: your outstanding numbers on credit cards every month, that's typically
12:44
Speaker 10: around $ 6 billion. So what that means is that there's
12:46
Speaker 10: typically a couple of billion dollars that's not paid off
12:50
Speaker 10: your credit card every month. And of course, everybody knows
12:52
Speaker 10: that your interest rate on a credit card is around 20%.
12:55
Speaker 10: So you multiply a couple of billion by 20%, and
12:59
Speaker 10: guess what? That's a pretty big number that's going straight
13:01
Speaker 10: to the banking sector.
13:03
Speaker 2: Just spending, consumer spending generally, When do you think it's
13:07
Speaker 2: going to bounce back to a more rosy level?
13:12
Speaker 10: Well, if you look at spending in general, so if
13:15
Speaker 10: you look at retail sales, for instance, your retail sales
13:18
Speaker 10: volume of retail sales has been up six quarters in
13:21
Speaker 10: a row. So the recovery is underway. And by that number,
13:27
Speaker 10: I'm actually talking about core spending as opposed to the
13:29
Speaker 10: spending including energy or including fuel. So the recovery is underway.
13:34
Speaker 10: The problem is, We're nowhere near the giddy highs of
13:38
Speaker 10: where we were in 2022 in regard to spending per hit.
13:42
Speaker 10: And what we're seeing at the moment is that as
13:44
Speaker 10: your rates bill, as your electricity bill eats up disposable income, well,
13:50
Speaker 10: guess what? You've got to reallocate, i.e. take money away
13:53
Speaker 10: from other areas of retail spend. There's a big structural
13:56
Speaker 10: shift that's going on. We're still spending. but we're spending
13:59
Speaker 10: in different areas because there's certain necessary items that are
14:03
Speaker 10: going a long way up in price, and that's siphoning
14:05
Speaker 10: core money away from the retail sector, and that's a
14:07
Speaker 10: structural shift.
14:08
Speaker 2: Cameron Bagri, independent economist, always good to chat, 24 minutes
14:11
Speaker 2: after five. So let's go to the US for just
14:16
Speaker 2: a second, because straight out of Trump's playbook is you
14:19
Speaker 2: hate on the press, you throw missiles at the press,
14:22
Speaker 2: little hand grenades at the press, and this is right
14:25
Speaker 2: before a midterm election because it sort of tickles up
14:28
Speaker 2: your base. Now, the press is heading back. And, you know,
14:32
Speaker 2: you might think, oh, well, that's just CNN being CNN.
14:34
Speaker 2: But CNN has been joined by Fox News. They are
14:38
Speaker 2: all banding together. ABC, CBS, CNN, NBC, they've all joined together.
14:43
Speaker 2: And they said, we're actually going to stop the White
14:45
Speaker 2: House press pull rotation. So this is where you get
14:47
Speaker 2: a bunch of reporters, videographers, photographers. They collectively, because you can't,
14:52
Speaker 2: the thing about following a leader around is you can't
14:55
Speaker 2: always all be, all the media outlets in one room
14:58
Speaker 2: at one time. So you will do a pool camera.
15:00
Speaker 2: They do this in New Zealand. We've done it here
15:02
Speaker 2: for years where you'll send one camera and then they
15:04
Speaker 2: share the footage. Well, the pool's over. The pool party
15:07
Speaker 2: is over until Trump changes his mind. 25 after five,
15:11
Speaker 2: Newstalk ZB. 27 after five, Newstalk ZB. So Labour has
15:15
Speaker 2: seen the light on interest deductibility. That's where a landlord,
15:18
Speaker 2: like any other legitimate business in New Zealand, is able
15:21
Speaker 2: to deduct the expense, take away the expense of its
15:24
Speaker 2: capital borrowing, i.e. a mortgage, against its taxable income. After expenses,
15:30
Speaker 2: what's left over gets taxed. This is a genuine surprise
15:33
Speaker 2: to me. The word I'd been getting from Labour MPs,
15:35
Speaker 2: and I've chatted to a few of them now, and
15:37
Speaker 2: from the industry as well who I've been talking to,
15:39
Speaker 2: was that they would allow maybe a 50% deduction rather
15:43
Speaker 2: than the current 100%. Of course, the deduction has always
15:46
Speaker 2: made sense, and the arguments against it made little. Housing
15:50
Speaker 2: shouldn't be a business because it's essential. That's the argument
15:54
Speaker 2: they made, which has always been a bogus line. Food, electricity, water,
15:58
Speaker 2: pretty essential, wouldn't you say? We all need them. We
16:01
Speaker 2: all use them on a daily basis. They're all free
16:03
Speaker 2: and able to deduct interest on their borrowing to own
16:06
Speaker 2: and build supermarkets or wind turbines or treatment plants, whether
16:09
Speaker 2: they're publicly or privately owned. So they can do it.
16:12
Speaker 2: What's wrong with housing? Now, there are two reasons Labour's
16:15
Speaker 2: done this. One of those reasons has just been outlined
16:18
Speaker 2: by Robin Walker from Deloitte, which I thought was interesting,
16:22
Speaker 2: where basically they would have been stung by the interest
16:26
Speaker 2: when they went to collect their capital gains tax revenue.
16:30
Speaker 2: So they have had to allow the interest earlier. Otherwise,
16:34
Speaker 2: they'd be hit then and not have enough money for
16:36
Speaker 2: the doctors. However, there's a second reason here. It's a
16:39
Speaker 2: play for the centre. They're dropping in the polls. The
16:42
Speaker 2: nine new taxes ads are, I think, largely to blame
16:45
Speaker 2: for that. Continuing landlord tax cuts, as they would like
16:49
Speaker 2: to call them, is a play from the same political
16:51
Speaker 2: handbag as national supermarket breakup. Neither party's MPs will like
16:56
Speaker 2: this move. They're captain's calls. They're centre plays. But they don't,
17:00
Speaker 2: in their hearts, these MPs, like backing them. On latest polling,
17:05
Speaker 2: the legacy parties, the bigger parties, are scrapping for less
17:08
Speaker 2: than 60% of the vote, their lowest collective share on record.
17:12
Speaker 2: National is trying to out-Labour Labour. Labour's trying to out-National National.
17:17
Speaker 2: This is an election campaign. The risk for both of
17:20
Speaker 2: them is that it only angers your base, who then
17:23
Speaker 2: run screaming into the arms of Chloe or David.
17:26
Speaker 1: Ryan Bridge.
17:28
Speaker 2: Or Winston. Or Q. Le Wong. Or whoever. Tick your
17:33
Speaker 2: box wherever you like. Newstalk ZB, it is coming up
17:36
Speaker 2: to half past five. We'll get to news. And then
17:40
Speaker 2: Donna DeMeo out of Australia. Elbow and his awkward UN moment.
17:45
Speaker 2: All to come.
17:45
Speaker 7: Get out of it. Get, get out of it.
17:48
Speaker 2: Get, get out of it.
17:57
Speaker 1: Get ahead of the headlines on Early Edition with Ryan
18:01
Speaker 1: Bridge and Spark for Business, technology that keeps business moving.
18:06
Speaker 2: Use TalkZB.
18:07
Speaker 4: I just want to be.
18:08
Speaker 2: 24 away from six here on Newstalk ZB. Coming up
18:17
Speaker 2: before six, the university's got $ 1. 2 billion out of the
18:20
Speaker 2: fees-free policy that Labour brought in. We'll go to Australia.
18:24
Speaker 2: Albanese's over at the UN. He's trying to get a
18:26
Speaker 2: seat on the UN Security Council and he's had a
18:28
Speaker 2: bit of an awkward moment at a press conference. We've
18:30
Speaker 2: got the audio for you with that. Back home, Fonterra.
18:33
Speaker 2: So you get results from Fonterra on Thursday and you
18:36
Speaker 2: will remember that Miles Hurrell, when they did the mainland deal,
18:39
Speaker 2: which Winston didn't like and made that very clear, he said,
18:42
Speaker 2: don't worry. We will set ourselves a target to make
18:46
Speaker 2: up all of the lost earnings within three years. So
18:49
Speaker 2: D-Day is Thursday and how that plan is going. We
18:53
Speaker 2: will get the results then. Whether they come close to
18:55
Speaker 2: the target, whether they are off, achieving that, this is
18:59
Speaker 2: a good report from Jamie Gray at The Herald, achieving that,
19:03
Speaker 2: You would need earnings before interest and tax just shy
19:06
Speaker 2: of $ 1. 7 billion. Forsyth Bar reckons they're forecast at the
19:10
Speaker 2: moment that they are below that figure. How far below
19:13
Speaker 2: or maybe above? We will find out Thursday, 23 to 6.
19:23
Speaker 11: This is the troubled Ward 10A at Wakati Hospital in Dunedin.
19:27
Speaker 11: To be specific, it's confirmation now that this ward is
19:31
Speaker 11: to close by October 31st at the earliest. Now there's
19:35
Speaker 11: fears that the staff there could be left jobless when
19:39
Speaker 11: it closes. Ombudsman inspectors earlier this year found evidence of
19:42
Speaker 11: punitive and coercive treatment at the unit, which supports adults
19:46
Speaker 11: with intellectual disabilities involved.
19:47
Speaker 2: In the justice system.
19:48
Speaker 11: Public services Association National Secretary Fleur Fitzsimons says staff have
19:53
Speaker 11: valuable expertise that should not be lost and all staff
19:57
Speaker 11: should be retained. The Ministry of Health launched an independent
20:00
Speaker 11: inquiry into patient care there back in July. It's expected
20:04
Speaker 11: to take six months total before we hear from that.
20:06
Speaker 11: All right, how's your weather? Fine today, but showers possible.
20:10
Speaker 11: Thunderstorms and hail this afternoon, the high 15.
20:13
Speaker 2: All right, nice one, Callum. Thank you. Claire's in Christchurch. Morning, Claire.
20:16
Speaker 12: Good morning.
20:16
Speaker 2: You've got a student charity run there, Claire.
20:18
Speaker 12: Yeah, this is Canterbury University students. It's the Lads Without
20:21
Speaker 12: Labels annual Run 72 event. They basically run for 72
20:25
Speaker 12: hours straight, all in the name of men's mental health.
20:28
Speaker 12: They have thousands expected to get involved from today. This
20:31
Speaker 12: was a challenge that was launched when men made up 72%
20:35
Speaker 12: of suicides in New Zealand. It's now in its sixth
20:38
Speaker 12: year and they raise a lot of money along the way.
20:40
Speaker 12: Last year, runners did 74,000 kilometres. This year, they want
20:44
Speaker 12: to do 100,000. They have a lot of fun doing
20:46
Speaker 12: it as well. There's some unusual incentives on the line.
20:49
Speaker 12: including this year a new prize for the fastest person
20:52
Speaker 12: to eat a whole roast chicken while completing a lap. Now,
20:56
Speaker 12: all money goes to the charity's support fund and their operations.
21:00
Speaker 2: Sounds difficult. How's your weather, Claire?
21:03
Speaker 12: Rain about this morning. Strong northwesterlies as well. A southerly
21:05
Speaker 12: change expected and some more brief rain this evening. The
21:09
Speaker 12: high should be 15.
21:09
Speaker 2: All right, Max and Wellington. Morning, Max.
21:11
Speaker 10: Morning.
21:12
Speaker 2: Surprise, surprise. O'Connor's going for the council. Yeah, that's right.
21:16
Speaker 9: This is Greg O'Connor, of course, former assistant speaker, former
21:19
Speaker 9: Police Association boss, outgoing Labour MP, entered Parliament 2017. I
21:25
Speaker 9: would say probably bucked the trend in the 2023 election
21:28
Speaker 9: by holding on to his electorate. Ohariu, when other Labour
21:31
Speaker 9: candidates were capitulating, didn't find a place on the list
21:35
Speaker 9: for Labour this year, which was somewhat surprising. But I
21:38
Speaker 9: highly doubt he'll be out of work for long. He's
21:39
Speaker 9: going to campaign for the empty seat on the council,
21:42
Speaker 9: a vacant seat. left vacant by the very sad and
21:44
Speaker 9: tragic death of Tony Randall. His tilt announced yesterday afternoon
21:48
Speaker 9: at Johnsonville's deteriorated, dilapidated mall, somewhat symbolic. Cost of living, pro-Wellington,
21:55
Speaker 9: independent thinker, pro-amalgamation. That race will all lead to a
22:00
Speaker 9: December 11 by-election.
22:02
Speaker 2: How's your weather, Max?
22:03
Speaker 9: Some morning showers clearing after lunch, Southerlies 13.
22:06
Speaker 2: Have a great day, mate. Neva's in Auckland. Morning, Neva.
22:09
Speaker 13: Good morning.
22:09
Speaker 2: We've got some numbers, some hard data on our CRL passenger.
22:14
Speaker 2: How frequently, how often are they getting on it?
22:16
Speaker 14: Well, after, look, eight days the first week, it's looking
22:20
Speaker 14: pretty good. So it's been, apparently, this is according to
22:23
Speaker 14: Auckland Transport, City Rail Link, has been popular, punctual, and
22:27
Speaker 14: reliable during the first week of operation. So we know
22:31
Speaker 14: 528,000 boardings over the first seven days. Now that's beaten
22:36
Speaker 14: the previous seven-day record of 504,000 trips. So throughout the week,
22:42
Speaker 14: AT says it's managed to keep punctuality above 95%, with
22:46
Speaker 14: the opening day the only exception. And I think that
22:49
Speaker 14: was because of that, you remember there was that small
22:51
Speaker 14: fire at Waitematā, so Yeah, so that caused it to
22:54
Speaker 14: dip under the 94%. But yeah, I think they're pretty
22:58
Speaker 14: happy about it at this stage.
22:59
Speaker 2: Oh, good. I'm pleased to see it's going well so far.
23:01
Speaker 2: How's our weather?
23:02
Speaker 14: Isolated showers becoming widespread for a time in the afternoon.
23:05
Speaker 14: Those showers clearing to fine tonight. Can you believe it?
23:09
Speaker 14: 19 is the high here in Auckland.
23:10
Speaker 10: Beautiful.
23:11
Speaker 2: We'll take that bag at. Thanks, Neva. 19 away from
23:13
Speaker 2: six now. Brace yourselves for another ICBM from China, everybody.
23:19
Speaker 2: because we have just crossed through the Taiwan Strait, which
23:22
Speaker 2: the Chinese don't like very much. The Chinese don't like
23:25
Speaker 2: that because they think that it's their water. Of course, Taiwan,
23:29
Speaker 2: the US, and us, the rest of the world, say, no,
23:31
Speaker 2: it's international water. So we did that on Friday, and
23:35
Speaker 2: we know it upsets them. Is there another, you know,
23:38
Speaker 2: are they going to fire another missile down here, or
23:40
Speaker 2: are they just going to get on the blower to
23:41
Speaker 2: Winston Peters? I guess we'll all find out. Time is
23:44
Speaker 2: 18 to 6, Newstalk ZB. We're in Australia next.
23:48
Speaker 1: International Correspondence with NZI Insurance. Peace of mind for New
23:52
Speaker 1: Zealand business.
23:54
Speaker 2: 16 away from 6 News Talk CB. Now someone has
23:57
Speaker 2: just texted in to say, Brian, punctuality at 95% on
24:00
Speaker 2: the CRL. Doesn't it just run in a circle? Yes,
24:04
Speaker 2: in a way. Yes and no. The trains that come
24:07
Speaker 2: on there and they go east, west, south, they go everywhere.
24:11
Speaker 2: So it's not just one train going round in a
24:13
Speaker 2: circle like Thomas the Tank Engine in the living room.
24:17
Speaker 2: it goes, trains come in and they go around and
24:19
Speaker 2: then they go out again. So, well, I'm assuming 95%
24:22
Speaker 2: is for the whole network, not just for the one
24:25
Speaker 2: that goes round and round and round in circles. Time
24:28
Speaker 2: is quarter to six. Very quickly, this is Albanese facing
24:31
Speaker 2: a tough question over at the UN.
24:34
Speaker 15: Prime Minister, here in New York on Wednesday night, you
24:36
Speaker 15: will receive an award for being a global citizen. Don't
24:40
Speaker 15: you feel like a bit of a fraud accepting this
24:42
Speaker 15: award when at home... You screwed up the response to
24:46
Speaker 15: the worst massacre since Port Arthur. In the polls, you're
24:49
Speaker 15: taking Labour to one point shy of Julia Gillard when
24:53
Speaker 15: you rolled her. And your net negatives are worse than
24:56
Speaker 15: Scott Morrison.
24:57
Speaker 5: No.
24:58
Speaker 2: Oh, sick burn. It had to hurt. Right, let's go
25:01
Speaker 2: to Donna DeMayo, our Australia correspondent. Donna, good morning.
25:05
Speaker 13: Good morning to you.
25:06
Speaker 2: That was brutal, wasn't it?
25:08
Speaker 1: Rather. Rather.
25:10
Speaker 13: But he's also done something else.
25:12
Speaker 2: Okay.
25:13
Speaker 13: So Anthony Albanese has launched a formal bid for Australia
25:17
Speaker 13: to serve a two-year term on the UN Security Council. Now,
25:20
Speaker 13: that's not until 2029 and 2030. So the Prime Minister
25:26
Speaker 13: insists that having a seat on the UN Security Council
25:30
Speaker 13: will be able to help with the cost of living
25:32
Speaker 13: back home. Now, the actual vote won't be held until mid-2028,
25:36
Speaker 13: but those lobbying efforts, well, they are very much underway
25:40
Speaker 13: and intensifying over the next couple of days because the
25:42
Speaker 13: PM is.
25:42
Speaker 8: In New York.
25:44
Speaker 13: And he says that engagement with the world matters, and
25:48
Speaker 13: it matters because it makes a difference to... the cost
25:51
Speaker 13: of living, to inflation, to Australians' way of life. And
25:54
Speaker 13: we cannot afford not to be engaged with the world.
25:58
Speaker 13: It does have a direct impact on the quality of
26:01
Speaker 13: life of Aussies. And so interesting, I thought, those thoughts.
26:06
Speaker 2: It's a long bow. It's a long bow, Donna. The
26:10
Speaker 2: Security Council is inept and ineffectual at the best of times.
26:16
Speaker 2: Having Australia on it, I don't think it's going to
26:18
Speaker 2: move the dial either.
26:20
Speaker 13: Well, these are his thoughts, and this is what he's
26:22
Speaker 13: just said recently. But I thought it was interesting that
26:25
Speaker 13: even if the two countries that have put their hands
26:27
Speaker 13: up for this spot on the council, that's Australia and Finland,
26:29
Speaker 13: even if they run unopposed, Australia still needs to get
26:33
Speaker 13: support from two-thirds of the, I think it's 193 UN
26:37
Speaker 13: member states to be successful. So let's see if this
26:41
Speaker 13: lobbying works for ALBO and Australia.
26:44
Speaker 2: All right. Hey, Donna, Melbourne has a big tram network,
26:47
Speaker 2: used it, loved it, and there's been a Tram Drivers
26:51
Speaker 2: Championships held in Poland.
26:53
Speaker 8: Fascinating.
26:54
Speaker 13: I'm sorry I missed the live stream of this. Apparently,
26:56
Speaker 13: it's so entertaining to watch. But Melbourne's tram network is
26:59
Speaker 13: the largest in the world. And, you know, they move
27:02
Speaker 13: around 200 million passengers every year. They competed. The Melbourne
27:06
Speaker 13: Tramaroos finished. There were 26 teams. Well, they finished second last.
27:13
Speaker 2: Which I thought was a little bit embarrassing.
27:15
Speaker 13: One of the tests, it's called a smooth stop and go,
27:18
Speaker 13: and they actually put a bowl of water attached to
27:20
Speaker 13: the front of the tram and then points are deducted
27:23
Speaker 13: for every drop spilled. But I'm sure you need to
27:27
Speaker 13: know who the winner was, and it was two drivers
27:30
Speaker 13: from Prague. So congratulations to them.
27:33
Speaker 10: Oh, great.
27:33
Speaker 2: Nice to know. Maybe I'll think twice before getting on
27:36
Speaker 2: another Melbourne tram. Donna, thank you for that. Donna DeMeo,
27:38
Speaker 2: an Australia correspondent. Time is 12 minutes away from six. So,
27:43
Speaker 2: Tertiary Education Minister, this is Penny Simmons. You know the
27:46
Speaker 2: taxpayers when we did the Labour introduction? Well, two billion dollars,
27:52
Speaker 2: $ 1. 25 billion of that was pocketed by the universities. She
27:56
Speaker 2: says the studies now show that the policy didn't do
27:58
Speaker 2: what it was meant to do, i.e. lift enrolment. Aidan
28:01
Speaker 2: Donoghue views the president. That's Vic Uni. Good morning. Good morning.
28:05
Speaker 2: So more proof that it was a waste of time.
28:07
Speaker 7: Well, I think saving student money in such a tough
28:11
Speaker 7: environment is never a waste of time in my view.
28:14
Speaker 2: Get a job.
28:16
Speaker 10: Well, I'd love to try.
28:18
Speaker 7: I'm certainly out there cracking in, many of us are,
28:21
Speaker 7: but they seem to be in Australia.
28:23
Speaker 2: Yeah, fair enough. How many students do you think do
28:26
Speaker 2: do part-time work with their studies?
28:30
Speaker 7: About 63% we found, which is a bit higher than
28:34
Speaker 7: in recent years.
28:35
Speaker 2: And what sort of hours generally are you doing?
28:39
Speaker 7: The most common amount of hours were between 10 and
28:42
Speaker 7: 20 a week that we found when we surveyed our students.
28:45
Speaker 2: You're doing– I mean, the view as a president would
28:48
Speaker 2: be considered a part-time job, wouldn't it? Because you get
28:51
Speaker 2: paid for it, don't you?
28:52
Speaker 7: It's a full-time role.
28:54
Speaker 9: Oh, right.
28:55
Speaker 7: And I do my master's on the side, yeah.
28:57
Speaker 2: Okay, so it's the other way around. You've got your
29:00
Speaker 2: wife and then your mistress. How about this policy? Can
29:05
Speaker 2: you see any benefit to what was done from– Think
29:09
Speaker 2: outside of being a student for a second and think
29:11
Speaker 2: about being a taxpayer with your job hat on. Any
29:15
Speaker 2: benefit outside of what was supposed to happen?
29:22
Speaker 7: Out of removing C3? I think ultimately if that money
29:24
Speaker 7: is getting put somewhere else in the tertiary sector, that
29:27
Speaker 7: would be a good start. But we're not exactly seeing
29:29
Speaker 7: a one-to-one parity for that funding being rearranged now.
29:34
Speaker 2: So what does that mean, that the universities are going
29:37
Speaker 2: to be out of pocket and come cap in hand again.
29:39
Speaker 10: Or what?
29:40
Speaker 7: It's either the universities will come and look for more
29:45
Speaker 7: or they're going to have to put that funding change
29:48
Speaker 7: more into students. We've seen, you know, 20% increase in
29:52
Speaker 7: the last three years of our fees. So I think
29:54
Speaker 7: with the, you know, diminishing gains, you know, you get
29:57
Speaker 7: from increasing fees on students and you'll see less enrolments,
30:00
Speaker 7: universities are going to hit a wall pretty soon about
30:02
Speaker 7: how they're going to fund the entire operation.
30:03
Speaker 2: All right. Aidan, good to have you on the show
30:05
Speaker 2: this morning as always. Thank you. Aidan Donoghue, Views of
30:08
Speaker 2: President with us. It is nine away from six.
30:11
Speaker 1: Ryan Bridge.
30:12
Speaker 2: Paramount, you know the big deal with Paramount. Well, they've
30:14
Speaker 2: reached a settlement with the states, the attorneys general from states,
30:18
Speaker 2: many of them, including California, that took cases suing them
30:22
Speaker 2: back in July to try and block this deal. Well,
30:24
Speaker 2: it's going ahead. $ 81 billion US, the merger with Warner
30:28
Speaker 2: Brothers Discovery. Under the agreement, Paramount will avoid having to
30:32
Speaker 2: sell their cable channels. But the deal is, at this point,
30:38
Speaker 2: a go-go. 8 to 6, Newstalk ZB.
30:42
Speaker 1: On your radio and online on iHeartRadio. Early edition with
30:46
Speaker 1: Ryan Bridge and Spark for Business. Technology that keeps business moving.
30:51
Speaker 2: News Talk ZB. Seven away from six, News Talk ZB.
30:53
Speaker 2: Winston Peters gave a speech yesterday as Foreign Minister sort
30:56
Speaker 2: of wrapping things up. And you've got to hand it
30:59
Speaker 2: to the guy. He's got a great run rate. He's
31:00
Speaker 2: got a great work ethic. He has got to be
31:03
Speaker 2: one of the thoroughbreds of diplomacy. So he undertook 44
31:06
Speaker 2: offshore visits in his term as Foreign Minister. 248 days overseas.
31:13
Speaker 2: And you compare that to, well, some have had the
31:16
Speaker 2: job more recently. But I looked this morning, how many
31:19
Speaker 2: days does the House sit across a three-year term? So
31:22
Speaker 2: you're about 84 to 90 days each year, roughly 250
31:25
Speaker 2: to 270 days across the three years, which means that
31:30
Speaker 2: Winston Peters has spent as much time abroad in the
31:33
Speaker 2: last three years as Parliament has sitting.
31:37
Speaker 1: Ryan Bridge.
31:38
Speaker 2: 5-2 morning, Mike. G'day. Surprised by Labour's little change on
31:42
Speaker 2: the interest deductibility?
31:44
Speaker 16: Yes, I'd say. I was just working out surprise v.
31:47
Speaker 2: Shocked.
31:48
Speaker 16: Yeah, I was.
31:49
Speaker 2: Genuinely surprised about that. And good on them.
31:52
Speaker 16: Congratulations.
31:53
Speaker 17: I mean, you've got to, when somebody, you'd like to think,
31:56
Speaker 17: I mean, you guess it's political because they're a bit desperate.
31:59
Speaker 2: Well, that's what I thought. I thought that this morning too.
32:01
Speaker 2: I was like, it's political. It's like National doing the supermarkets.
32:03
Speaker 2: They're going for the centre. However, we had a Deloitte
32:07
Speaker 2: tax partner on this morning. Did you hear that? Yes,
32:09
Speaker 2: I did. Yes, she said basically that you would be
32:12
Speaker 2: able to deduct the interest at the end at the
32:14
Speaker 2: point of sale, which therefore diminishes your capital gain take.
32:18
Speaker 1: Yes.
32:19
Speaker 2: So they would have been screwed on the doctor's visits fund.
32:23
Speaker 2: To be frank, I think she overworked that. I don't
32:28
Speaker 2: think they're down there. This is the same party that
32:30
Speaker 2: lost billions on the students fund. Because next year's on me.
32:34
Speaker 2: They're not capable of thinking through what she's thinking through.
32:37
Speaker 2: She's a bright woman. She's a very bright woman.
32:39
Speaker 16: And they're not.
32:40
Speaker 2: No, no, but that's what she's saying. They probably should
32:42
Speaker 2: have thought of that already by now, you know?
32:44
Speaker 17: There's a claim this morning, the bloke we've got on,
32:47
Speaker 17: claims that they've been lobbying them for ages. and have gone,
32:51
Speaker 17: look at the market, look at rents, look at where
32:53
Speaker 17: you're at. You've got 300,000 mum and dad investors.
32:56
Speaker 16: Who have got a house. Don't cock it up. Don't
32:58
Speaker 16: cock it up.
32:59
Speaker 17: And he claims that the pennies dropped.
33:01
Speaker 3: Yes.
33:02
Speaker 2: So he was the same guy who was saying just
33:04
Speaker 2: a couple of months ago he thought they were going
33:06
Speaker 2: to go with 50%. So they've been toying with that.
33:09
Speaker 2: But also... Think of those Labour MPs who've been screaming
33:13
Speaker 2: bloody murder about a landlord tax break.
33:16
Speaker 17: The tax break for the landlords and with the implication
33:19
Speaker 17: that they're the rich pricks that we don't like. And
33:22
Speaker 17: so now they've got to back down that. But I mean,
33:25
Speaker 17: at the end of the day, policy is policy. This
33:26
Speaker 17: is their stand. This is what they're taking to the election.
33:29
Speaker 17: So if you are an investor, it's good news because
33:32
Speaker 17: what you've wanted brought a discussion.
33:35
Speaker 2: Is this.
33:37
Speaker 17: Understanding that things stay the same, there's a consistency in policy,
33:41
Speaker 17: you know where you're at, et cetera, so that's no
33:43
Speaker 17: bad thing. Anyway, we'll talk about that this morning. And
33:46
Speaker 17: the wasted money on the, I mean, $ 2 billion on the.
33:49
Speaker 16: Next years on us.
33:49
Speaker 2: Half of which to the unis.
33:51
Speaker 16: First year, second year, last year, none of it worked.
33:54
Speaker 16: You're on a pathway. Anyway, that and other matters.
33:56
Speaker 2: Fantastic. Mike, looking forward to it this morning. Mike is
33:59
Speaker 2: with you next here on Newstalk ZB. By the way,
34:01
Speaker 2: El Nino is coming. Actually, you'll love this, Mike. The
34:06
Speaker 2: Guardian this morning describing it as Godzilla-level, jaw-dropping, and frightening.
34:13
Speaker 2: All ahead, Newstalk ZB with Mike.