Latest / Best of Business / Barry Soper: ZB senior political correspondent on the Government's response to today's OCR cut

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Barry Soper: ZB senior political correspondent on the Government's response to today's OCR cut · Best of Business

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  Speaker 1: You're listening to a podcast from News Talk sed be
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  Speaker 2: Very Soper, senior political correspondent with us Hey Barry, Good afternoon. Right,
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  Speaker 2: so we've had the oca Adrianaws come out. He's done
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  Speaker 2: as press conference, which you have to admit he likes doing,
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  Speaker 2: doesn't he.
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  Speaker 3: Well now he does, although he seemed to quite enjoy
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  Speaker 3: it when he engineered the depression in.
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  Speaker 2: The first exactly. I think he just likes a press
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  Speaker 2: conference period. Well that's right, But anyway, the dancing in
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  Speaker 2: the aisles at Parliament, well.
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  Speaker 3: You're certainly dancing from the government side, and on a
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  Speaker 3: rare occasion, both act and nationalist singing from the same hymbo.
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  Speaker 3: But they're both praising the efforts of the government collectively
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  Speaker 3: for where we are at at the moment. So it
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  Speaker 3: had to come down though it was inevitable that you know,
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  Speaker 3: inflation was clearly under control, the squeeze the economy had
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  Speaker 3: been squeezed so hard by Adrian or and when you
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  Speaker 3: look at you know, the years twenty twenty three twenty four,
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  Speaker 3: I mean it ranged between I think it was four
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  Speaker 3: point seven five and five point five and only started
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  Speaker 3: coming down on October last year. So it's been a long,
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  Speaker 3: hard grind, mainly for the mortgage interest holders. And a
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  Speaker 3: lot of people ask me about the OCR what does
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  Speaker 3: it mean three point seventy five. Well, that's the rate
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  Speaker 3: that the banks can borrow money at and the margin
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  Speaker 3: that the bank set is above that for your mortgage
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  Speaker 3: and interest rates. So you know, it'll be interesting to
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  Speaker 3: see if those margins are reduced or stay the same,
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  Speaker 3: and what real effect that it will have on our
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  Speaker 3: interest rates.
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  Speaker 2: Yeah, well it's interesting today listening to that press conference,
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  Speaker 2: them saying basically, your longer term rates, so anything two
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  Speaker 2: to five years, don't expect much of movement because most
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  Speaker 2: of that is influenced by your bank swap rates and
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  Speaker 2: your international money markets rather than the OCR. So, but
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  Speaker 2: you have foting rates will certainly go up and down. Hey,
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  Speaker 2: John tammaheady, he came out this morning.
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  Speaker 3: Well allarm whole, John Tama Harry is speaking to somebody.
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  Speaker 3: He essentially agreed that some photocophe copying had taken place
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  Speaker 3: at the muddy at the center of all this. And
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  Speaker 3: his candidate, of course won the election, who was the
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  Speaker 3: chief executive of the Marine but it's interesting. Tama Herry
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  Speaker 3: has been approached by News Talk z' be on many
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  Speaker 3: occasions for an interview, but the calls go unanswered. But
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  Speaker 3: the phone was unswered from Radio New Zealand this morning
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  Speaker 3: and he seemed to suggest the whole thing was a
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  Speaker 3: Pakiha conspiracy.
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  Speaker 4: I think it's in the interest of all pakia that
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  Speaker 4: they wanted sorted out right, because the only people that
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  Speaker 4: get investigated constantly, and there's not one rule for law
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  Speaker 4: in this country by long shot, from supression orders all
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  Speaker 4: the way through, because we suffer a significant microscope have
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  Speaker 4: done since I that school have done today plays out
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  Speaker 4: in different ways. So we will continue to participate in
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  Speaker 4: the democratic process, whether people like it or not. And
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  Speaker 4: we're are growing forced politically in this country. That will
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  Speaker 4: continue whether people like it or not.
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  Speaker 3: Hang on though, wasn't the Maori party that called the
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  Speaker 3: policeman to investigate in the first place. If John's listing,
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  Speaker 3: you can't have it both ways.
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  Speaker 2: And also it was a Mardi MP and Penny Hennade
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  Speaker 2: who said that they were ripped off.
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  Speaker 3: I mean, honestly, I'll tell you what the interesting question
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  Speaker 3: at the end of all of this, if electoral wrong
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  Speaker 3: doing is found by the police against the Maori Party
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  Speaker 3: and they vehemently decided to deny that done anything wrong.
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  Speaker 3: The whole balance of Parliament has been decided on the
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  Speaker 3: seats like the one that they won. As a result,
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  Speaker 3: some would say of the vote being jacked up. Now
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  Speaker 3: where does that leave Parliament.
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  Speaker 2: And where does it And obviously there's a police investigation
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  Speaker 2: going on all that privacy commission and then also the
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  Speaker 2: question for the Electoral Commission, I mean, why did they
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  Speaker 2: let a booth go in first place? Exactly, you know,
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  Speaker 2: because it's their job, like in legislation, it's their job
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  Speaker 2: to run a friend fair election and to separate.
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  Speaker 3: It from what our best of interests.
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  Speaker 2: Now the Mexicans stand off, as Shane Jones once eloquently
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  Speaker 2: put it, between the Greens and New Zealand First, is
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  Speaker 2: continuing today.
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  Speaker 3: Yes it is. And it came down to a bit
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  Speaker 3: of a history lesson. I mean Menders March was born
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  Speaker 3: in Mexico, his father is Mexican, his mother was Key
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  Speaker 3: where in Key when he came to New Zealand with
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  Speaker 3: his mother. The question that led to the debate today
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  Speaker 3: was to the Immigration Minister, and it started all the
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  Speaker 3: kafuffle that led to the history lesson does she think
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  Speaker 3: it's fair to deport people who have been born in
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  Speaker 3: t oh separating them from communities and their families. It
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  Speaker 3: was the use of atrar that infuriated Winston Peters and
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  Speaker 3: his sidekick Shane Jones.
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  Speaker 5: Here they are, that is, someone who applied to come
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  Speaker 5: to a country called New Zealand's immigrant in two thousand
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  Speaker 5: and six allowed this House to change the country's name
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  Speaker 5: without the mandate the approval of referend of the New
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  Speaker 5: Zealand people.
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  Speaker 6: A person asking the questions an elected member of this
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  Speaker 6: House go to the treaty. New Zealand is transliterated as
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  Speaker 6: new TDNY. Pember Reeves popularized the word alterhor.
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  Speaker 7: Would you also be willing to consider whether it is
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  Speaker 7: appropriate for any member of this House to openly question
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  Speaker 7: the legitimacy of the presence of.
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  Speaker 6: Another member in order to make.
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  Speaker 5: A political point.
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  Speaker 6: Okay, think about that.
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  Speaker 7: I do think that is worthwhile considering those comments actually
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  Speaker 7: reflect outside of the chambers off this place into a
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  Speaker 7: broader communities. This incentivating people who may have been born
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  Speaker 7: overseas from participating in our democracy.
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  Speaker 6: So can you also contemplate the appropriateness of recent immigrants
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  Speaker 6: telling Maldy's what the name of our country should be?
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  Speaker 3: Goodness, it was pember Reeves. Of course he wrote the book,
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  Speaker 3: and he was a politician at the turn of the
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  Speaker 3: nineteenth century in New Zealand, and he wrote the book
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  Speaker 3: The Land of the Long White Cloud, which is where
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  Speaker 3: Atol came from. And Shane Jones being Moldy himself, Winston
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  Speaker 3: Peter's being Maordy himself. They are right. This is not
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  Speaker 3: a Maldy word. It's a word that was taken by
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  Speaker 3: a European politician and popularized.
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  Speaker 2: I think he's running into a bit of a problem,
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  Speaker 2: probably not ellectually for him, but continuing to go down
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  Speaker 2: the foreign born route.
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  Speaker 3: Oh you know that, that needling, needling and needling. It's
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  Speaker 3: just it's pure political theater and they love it.
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  Speaker 2: They do. I think we run it's bloody enjoyable. Barry Ciper,
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  Speaker 2: Senior Political Correspondence.
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