Latest / Early Edition with Ryan Bridge / Full Show Podcast: 18 July 2024

Transcript

Full Show Podcast: 18 July 2024 · Early Edition with Ryan Bridge

0:01
Speaker 1: The issues, the interviews and the inside. Ryan Bridge new
0:08
Speaker 1: for twenty twenty four on the early edition with Smith
0:11
Speaker 1: City New Zealand's furniture bands and a play at store.
0:14
Speaker 1: News Talks dB.
0:16
Speaker 2: Good morning at six half to five, you're on news Talk,
0:18
Speaker 2: said V. I'm Ryan Bridge. Great to have you on
0:21
Speaker 2: this Thursday morning. A lot to get through today. You
0:24
Speaker 2: would have heard this yesterday that A and Z is
0:26
Speaker 2: dropping its rates. It's three year and it's two year rate.
0:29
Speaker 2: We've got the ASB economist Mark Smith on the show
0:32
Speaker 2: just before seven o'clock. It's going to tell us why
0:36
Speaker 2: he thinks we will actually get two rate cuts by Christmas.
0:40
Speaker 2: Doesn't that sound nice? We'll talk to him just before
0:43
Speaker 2: so just before six o'clock this morning. Also this today, JD.
0:47
Speaker 2: Vance as making his big speech at the RNC, the
0:51
Speaker 2: Republican National Convention. This is his first speech. Is Trump's
0:55
Speaker 2: VP nominee. I watched the movie yesterday based on his memoir.
1:01
Speaker 2: Quite a good movie and a very good book. Although
1:04
Speaker 2: it's quickly running out. You can't buy it, certainly. I
1:08
Speaker 2: went to three bookstores yesterday, couldn't find it anywhere, and
1:11
Speaker 2: they're having to do a new print on a new
1:12
Speaker 2: run on the printing. So I'll try and get my
1:15
Speaker 2: hands on that book. But if you do want to
1:16
Speaker 2: watch the movie, it's on Netflix. Mitch McCann's in the
1:19
Speaker 2: US for US that is coming up after six point thirty.
1:22
Speaker 2: This forgive me five thirty. I'm an hour out this morning.
1:26
Speaker 2: Should there be a burger king in Tito or t
1:29
Speaker 2: row depending on how you say it, We'll ask that question.
1:32
Speaker 2: Plus look into that teacup murder mystery in Bangkok. It
1:36
Speaker 2: is seven after five.
1:39
Speaker 1: The agenda, and it's.
1:40
Speaker 2: Going to say the eighteenth of July. US President Joe
1:43
Speaker 2: Biden has called for a ban on assault rifles, including
1:47
Speaker 2: AR fifteen's, the type used in the assassination attempt on
1:50
Speaker 2: Donald Trump. Why to stand against Wiles America and join me, Ketty,
1:56
Speaker 2: the brothers were off the Speaks of America. Biden made
1:59
Speaker 2: the call during his first return to campaigning. Following the shooting.
2:03
Speaker 2: Police in Thailand say it's likely six people who were
2:07
Speaker 2: found dead in a hotel room died from cyanide poisoning.
2:11
Speaker 2: It's believed one of the six who died had poisoned
2:13
Speaker 2: the others following a dispute about bad investments and debt.
2:17
Speaker 2: Traces of cyanide were found in cups in the hotel
2:20
Speaker 2: room and in the blood of one of the deceased
2:23
Speaker 2: back here. Now, eight organizations have joined up to give
2:26
Speaker 2: seventy five percent discounts on quad bike crush protection devices
2:32
Speaker 2: that are designed to reduce injuries and deaths. Safer Farm's
2:36
Speaker 2: chair Lindy Nelson says this year is already the deadliest
2:39
Speaker 2: for quad bike deaths and hopes the move will keep
2:42
Speaker 2: farmers safe.
2:43
Speaker 3: Some of these bikes are between six and eight hundred colograms,
2:47
Speaker 3: so bit lands on you.
2:48
Speaker 4: You're going to get.
2:49
Speaker 5: Crushed, so roll over.
2:50
Speaker 3: Protections provide that faith to survive.
2:54
Speaker 2: Gore's Council had to warn motorists of icy roads earlier
2:57
Speaker 2: in the week when temperatures plummeted to minus four point
3:00
Speaker 2: two degrees very chilly. However, it turns out the frozen
3:03
Speaker 2: roads were caused by the council leaving their garden sprinklers
3:06
Speaker 2: on overnight. It says they will make double sure the
3:09
Speaker 2: issue doesn't happen again.
3:11
Speaker 1: It is known up Ryan Bridge, New for twenty twenty
3:14
Speaker 1: four on early edition with Smith City, New Zealand's furniture
3:18
Speaker 1: beds and a playing store news dog Ziddy.
3:21
Speaker 2: Very foggy this morning, and Auckland too, so take care
3:23
Speaker 2: on the roads. Just returning very briefly to that Thailand,
3:27
Speaker 2: the teacup murder mystery in Thailand, because obviously everybody in
3:31
Speaker 2: the room died, so they don't know exactly what happened.
3:34
Speaker 2: But what they can do is look at the security
3:36
Speaker 2: footage from outside the room to see who went in
3:39
Speaker 2: and what happened. Basically, what happens that six people went
3:43
Speaker 2: into the room. Well, actually one woman went in first,
3:46
Speaker 2: so there was one woman in the room. Her name
3:48
Speaker 2: was Sherri Chong. She's in the room alone. She orders
3:53
Speaker 2: tea and food. Tea and food comes in. Waiter comes
3:56
Speaker 2: in and says, shall I pour the tea? And she
3:59
Speaker 2: says no, no, no, no, I'll do all that and he's like, okay,
4:02
Speaker 2: well that's a bit weird, but all right. Anyway, then
4:05
Speaker 2: the other five come in, and security footage says no
4:08
Speaker 2: one else goes into the room, So there's the six
4:11
Speaker 2: of them in there. Anyway, they're all dead, and there's cyanide.
4:15
Speaker 2: Traces of cyanide found in some of the blood, and
4:18
Speaker 2: traces of cyanide found in one of the tea cuts
4:20
Speaker 2: and the food wasn't eaten. So what they think, this
4:24
Speaker 2: is local police. What they think happened is that she
4:28
Speaker 2: has poisoned the other five. There was a dispute between
4:31
Speaker 2: a couple of them, overs and debts and stuff like that.
4:34
Speaker 2: They think that she has poisoned the other five. I know,
4:38
Speaker 2: go figure. They're still obviously that's not confirmed. They're still
4:41
Speaker 2: trying to get to the bottom of it. Ten after five.
4:44
Speaker 2: Now we're going to Tito or Trawl, depending on how
4:47
Speaker 2: you say it, because they're going to build well, they
4:50
Speaker 2: want to build a burger King, not just a burg King,
4:53
Speaker 2: but a Starbucks on the main drag. And if you'll
4:56
Speaker 2: know Tito because you drive through it, if you're going well,
4:58
Speaker 2: whether you're going to Auckland or or down the North Island,
5:01
Speaker 2: it's near Hamilton. Great place, got the corrugated iron buildings,
5:06
Speaker 2: the corrugated capital of the world. They say, locals say,
5:10
Speaker 2: it's going to ruin the character of the town. We
5:12
Speaker 2: don't want them there. Drive through, you know they'll be
5:14
Speaker 2: lit up. And actually, as I read on the story,
5:17
Speaker 2: it does sound quite convenient. It's going to be open
5:20
Speaker 2: from five am till two am, so It doesn't matter
5:22
Speaker 2: whether you're a trucky. You know what, what doesn't matter
5:25
Speaker 2: when you're driving seven days a week. These things are
5:28
Speaker 2: going to be open. So if you're driving through, you're
5:31
Speaker 2: all for this, aren't you? And I think you should
5:34
Speaker 2: be too. I mean, progress is progress. It's going to happen,
5:37
Speaker 2: whether it happens in Teto, what happens down the road,
5:39
Speaker 2: it might as well happen at your place, so that
5:41
Speaker 2: your town's still alive. I would have thought, but I'd
5:43
Speaker 2: love to hear from you this morning. Nine two ninety
5:46
Speaker 2: two is the number of text let us know what
5:49
Speaker 2: you're feeling, Tito, BK, yay or nay. It's sort of
5:53
Speaker 2: like the chemist warehouse. You know, a chemist wahouse pops
5:56
Speaker 2: up everywhere. It kills the local pharmacy. But I mean,
5:59
Speaker 2: it's just just what happens, isn't it supermarkets and butcher's.
6:03
Speaker 2: I mean, it's it's just progress. So anyway, let me know.
6:06
Speaker 2: Nine two ninety two. Do you want to see a
6:08
Speaker 2: BK in Tito? It is twelve after five. We're talking
6:12
Speaker 2: to y Sorry, we're going to talk about the Tay
6:15
Speaker 2: aluminium smelter in just a few seconds because they've got
6:20
Speaker 2: issues sourcing their energy.
6:22
Speaker 1: The first word on the News of the Day early
6:26
Speaker 1: edition with Ryan Bridge and Smith City, New Zealand's furniture
6:29
Speaker 1: beds and a play at store News Talk Zippy.
6:33
Speaker 2: And it's just gone fourteen after five New Zealand Aluminium
6:36
Speaker 2: Smelters is going to have to reduce its electricity usage
6:39
Speaker 2: at ty Point by a total of one hundred megawatts
6:42
Speaker 2: from early August. If you want to know what one
6:45
Speaker 2: hundred megawats means, it's about half of the energy that's
6:48
Speaker 2: needed to Powerhawks Bay at this time of year. The
6:52
Speaker 2: generator Meridian can request that they ramp down their energy
6:56
Speaker 2: used to meet generation demands following a new supply agreement
6:59
Speaker 2: that they started the month. Meridian says the production, sorry,
7:03
Speaker 2: the reduction and power use will help them manage hydro
7:06
Speaker 2: levels in the South Island Energy Resources altered. Our chief executive,
7:10
Speaker 2: John Knegy is with me this morning. John, Good morning
7:12
Speaker 2: to you. They seem to you, good morning, good morning.
7:15
Speaker 2: Seems to be sort of okay with this. Should is
7:18
Speaker 2: there a problem?
7:21
Speaker 4: Is this a wider problem with the both the guess
7:24
Speaker 4: and the electricity markets, and unfortunately none of this is
7:30
Speaker 4: some is a great surprise that's been in the baking
7:34
Speaker 4: for half a thousand odd.
7:35
Speaker 2: Years because obviously in winter there's a there's greater demand
7:39
Speaker 2: and there's also a dip in the in the hydro
7:41
Speaker 2: lake levels, particularly in the South Island. Mean, most of
7:43
Speaker 2: it is what is what? What is your solution to
7:47
Speaker 2: this problem?
7:49
Speaker 4: Oh? Well, look, I think predominantly actually we need to
7:55
Speaker 4: revitalize the New Zealand gas markets because as you said,
8:01
Speaker 4: we've we've got a major electricity user having to turn
8:07
Speaker 4: down production. So that's that's a loss of economic output
8:11
Speaker 4: and that's and that's not a good thing. That's not
8:13
Speaker 4: a good way to run your energy system. But we're
8:17
Speaker 4: also experiencing the same with major GUESS users, the methanol
8:21
Speaker 4: producer and others fertilizer and steelmakers are also burning down
8:25
Speaker 4: their production. Make sure that the declining because they've got
8:31
Speaker 4: decline in gas reserves. Declining guess reserves can be used
8:36
Speaker 4: in the electricity actually prop up the electricity system. So
8:42
Speaker 4: you know, we're not we're not in a we're not
8:44
Speaker 4: in a great we're not in a great shape. And
8:46
Speaker 4: of course with the decline guesses is now we have
8:53
Speaker 4: the threat of blackouts we're struggling to get the lights
8:56
Speaker 4: on and we're getting constant threat of blackouts. We're actually
9:00
Speaker 4: because of gas again, we're not building the GUS fired
9:04
Speaker 4: peekers that the electricity system needs. And a lot of that,
9:08
Speaker 4: of course comes back to previous government's policy settings.
9:11
Speaker 2: So that's the future exploration of oil and gas. I mean,
9:15
Speaker 2: so that has been reversed. Is that basically going to
9:18
Speaker 2: fix the problem or is there actually more that you
9:21
Speaker 2: need to be done in terms of legislation.
9:24
Speaker 4: Oh well, look, I wish it was as easy as that,
9:27
Speaker 4: because of course get new gas exploration and appraisal. There's
9:32
Speaker 4: a long term while a long term issue, and I mean,
9:37
Speaker 4: of course we do have our incumbent producers, you know,
9:40
Speaker 4: who are in situ, and once the oil and gas
9:43
Speaker 4: band has been removed from the legislation, because it's still
9:46
Speaker 4: in place, they are more likely to be the most
9:50
Speaker 4: likely to be the ones who can look at neighboring
9:52
Speaker 4: fields to try and quickly ramp up production. But I
9:58
Speaker 4: guess the point is Ryan, you know, if you can't
10:00
Speaker 4: get extra gas, we're likely to continue to lose industrial
10:04
Speaker 4: production and we have the constant at a blackouts and
10:08
Speaker 4: the solutions are unfortunately that we continue to import coal
10:13
Speaker 4: be using our electricity system because it's such a vital
10:17
Speaker 4: balancing fuel at the moment and now electricity system, or
10:20
Speaker 4: we import gas. When new renewables are fantastic, we need
10:26
Speaker 4: more of them, but we're always going to need gas
10:29
Speaker 4: to back their up. And Mark be sure that the
10:32
Speaker 4: electricity market functions properly. I mean the fact that rio
10:36
Speaker 4: Are the aluminium smelter and Meridian have struck it there
10:41
Speaker 4: as fantastic. But again it comes back to it's not
10:46
Speaker 4: a great way. Bending down industrial production is not a
10:50
Speaker 4: great way to run an your energy system now.
10:52
Speaker 2: And as you say, it happens every winter, doesn't it
10:55
Speaker 2: that they're having to do this, John, thank you very
10:57
Speaker 2: much for your time. John Cantegie with us this morning,
11:00
Speaker 2: executive at Energy Resources ALTEDOA. Coming up next to what
11:03
Speaker 2: the Commerce Commission has to say about Auckland Airport's plans
11:06
Speaker 2: for expansion and what that means for your airfes.
11:10
Speaker 1: Get ahead of the headlines. Ryan Bridge you for twenty
11:14
Speaker 1: twenty four on early edition with Smith City, New Zealand's
11:18
Speaker 1: Furniture Beds and a Planet Store News Talk zid BE.
11:21
Speaker 2: Twenty one after five The Commerce Commission says Auckland Airport's
11:24
Speaker 2: planned charges to airlines over the next five years are
11:27
Speaker 2: too high and could result in excess profits. The airport
11:32
Speaker 2: is set to undergo a multi billion dollar redevelopment, including
11:35
Speaker 2: a combined domestic and international terminal. Auckland Airport was set
11:39
Speaker 2: to increase aeronautical charges to airlines, a cost which would
11:42
Speaker 2: have been passed on to passengers according to those airlines.
11:45
Speaker 2: The executive director of the Border Airlines Representatives, Catho Brian
11:49
Speaker 2: is with me Kath good morning. They have found that
11:52
Speaker 2: the charges, well the plans for expansion were reasonable, but
11:57
Speaker 2: that the profit was going to be too high.
12:01
Speaker 3: Yeah, that's right. So you know, for the second period running,
12:05
Speaker 3: given that airport set prices every five years, Auckland Airport
12:08
Speaker 3: has been found to be targeting excessive profits, which is
12:13
Speaker 3: what the Commission, the language like Commission uses and they
12:17
Speaker 3: are doing that by setting a target return that is
12:20
Speaker 3: too high against the kind of rule set that the
12:23
Speaker 3: Commission requires them to follow, and you know, in this
12:27
Speaker 3: case it really is extremely high. So Auckland Airport this
12:32
Speaker 3: time is targeting a return of eight point seventy percent
12:36
Speaker 3: on aeron re call capex and against the commission midpoint
12:40
Speaker 3: of six point nine and eight. So you know, and
12:44
Speaker 3: those are all numbers, right, But actually what that that
12:46
Speaker 3: kind of looks like is something like two hundred and
12:49
Speaker 3: twenty six million dollars of excess profits. So not all
12:53
Speaker 3: the profits, just profits that are unreasonable.
12:56
Speaker 2: Quite a lot, quite quite a lot, right, Quite what
13:00
Speaker 2: is that? Because the original plan the airline said would
13:05
Speaker 2: have increased fares by forty six dollars for a domestic
13:08
Speaker 2: fare by twenty thirty two. Do you think now the
13:12
Speaker 2: airport will just come back and say, all right, we'll
13:14
Speaker 2: adjust our pricing in line with what the ComCom says
13:16
Speaker 2: and everything will be fine.
13:18
Speaker 3: I think that's exactly what they will say, you know.
13:21
Speaker 3: And the last time they set prices in the pricesing
13:24
Speaker 3: Event three, they reduced their prices by thirty three million,
13:27
Speaker 3: But then again, at that time the delta was much smaller,
13:30
Speaker 3: so at that time they were targeting a much less
13:33
Speaker 3: high like return, if you like. And this time they've
13:37
Speaker 3: really gone to town. So it was pretty clear that
13:39
Speaker 3: the Commission was going to find that this way, that
13:42
Speaker 3: average return or whack was too high. And so here
13:46
Speaker 3: we are, and so I don't think though, that deals
13:50
Speaker 3: with the problem of how expensive the capital plan that
13:55
Speaker 3: the airport has is. At six odds billion.
13:58
Speaker 2: Ye, do you think are you saying, do you think
14:00
Speaker 2: they're baking in a bit of fat when they take
14:05
Speaker 2: these plans to the concoction?
14:06
Speaker 3: Well, I guess you know. The rules say that the
14:09
Speaker 3: airport can can set its capex and can set a
14:13
Speaker 3: tiger return, and the rules say that the airport can
14:16
Speaker 3: set those prices as they wish, and that airlines must pay.
14:21
Speaker 3: And you know, we don't have any kind of contract
14:23
Speaker 3: or agreement. We just get the bill, and so you
14:26
Speaker 3: can see why we get a little bit wound up
14:28
Speaker 3: about it.
14:28
Speaker 2: Certainly when you're getting an IOU that's got two hundred
14:32
Speaker 2: million dollars potentially in excess profits attached to it, I
14:35
Speaker 2: can see why you would be. Kat, thank you very
14:37
Speaker 2: much for your time. We have to leave it there,
14:38
Speaker 2: Katho Brian who is with us from the Board of
14:41
Speaker 2: Airlines Representatives this morning, just gone twenty five after five
14:45
Speaker 2: women in the secret Service.
14:46
Speaker 1: Next separating the fact from the section Kid's Billing edition
14:52
Speaker 1: with Smith City, New Zealand's furniture beds and apply it
14:55
Speaker 1: Store News talksb Welcome.
14:57
Speaker 2: Back to just gone twenty seven after five Now have
15:00
Speaker 2: you seen the story floating around in the last couple
15:02
Speaker 2: of days about the US Secret Service after that assassination
15:05
Speaker 2: attempt on President Trump? The internet's been going nuts, not
15:08
Speaker 2: because how did it happen? What a cockup? Who's responsible?
15:12
Speaker 2: But also because a number of the agents trying to
15:14
Speaker 2: protect the president were women. According to Time magazine, this
15:17
Speaker 2: is based on video of the shooting. One of these
15:20
Speaker 2: agents looked quite frazzled and couldn't get a gun back
15:23
Speaker 2: into its holster. Another apparently frantically shouted what are we doing?
15:28
Speaker 2: Where are we going? After the shots were fired, and
15:31
Speaker 2: Meghan McCain, the daughter of John McCain, the former presidential nominee, tweeted,
15:36
Speaker 2: this is why the notion of men and women being
15:38
Speaker 2: that's the same is just absurd. You need to be
15:42
Speaker 2: taller than the candidate to protect them with your body.
15:46
Speaker 2: Why do they have these short women guarding Trump? Quite
15:50
Speaker 2: an explosive opinion from Meghan McCain. Some are blaming the
15:55
Speaker 2: diversity inclusion targets. Apparently they've got a target of having
15:58
Speaker 2: thirty percent of the Secrets Service agents as women and
16:02
Speaker 2: I can remember similar ants from some firefighters. Male firefighters
16:06
Speaker 2: a few years back they didn't trust women, well smaller
16:10
Speaker 2: women to be able to pull them out of a
16:12
Speaker 2: burning building should the need arise. And others say that
16:15
Speaker 2: these arguments are sexist, that women can and should do anything, etc.
16:20
Speaker 2: Both of these arguments I think kind of have merit.
16:22
Speaker 2: It's a fact that men are generally taller and bigger
16:25
Speaker 2: than women, but that doesn't mean all men are. I
16:29
Speaker 2: can think of many women who are taller and bigger
16:31
Speaker 2: than me who could frankly beat the crap out of
16:33
Speaker 2: me if I needed a bodyguard or saving from a
16:36
Speaker 2: burning building. Their sex wouldn't be an issue to me.
16:40
Speaker 2: But if the person is smaller and not as strong,
16:43
Speaker 2: whether it's a Secret Service agent or whether it's a firefighter,
16:47
Speaker 2: shouldn't there be minimum standards that apply to ensure safety.
16:53
Speaker 2: Surely safety would be top of mind when it comes
16:57
Speaker 2: to both of those occupations firefighters and to the Secret Service.
17:02
Speaker 2: So perhaps Meghan McCain, no matter how outrageous, has a
17:06
Speaker 2: point on this one. Twenty nine minutes after five, we're
17:08
Speaker 2: really going to speak to Mitch McCann, who is out
17:11
Speaker 2: of the United States, A US correspondent about the Republican
17:15
Speaker 2: National Convention, because it's a big day today for JD. Vance.
17:20
Speaker 2: It's his first speech as Trump's nominee for vice president.
17:25
Speaker 2: He's with us just after the news.
17:31
Speaker 4: Do I remind you of your daddy?
17:33
Speaker 1: In my phone?
17:37
Speaker 2: Alamod or hanging out the passenger.
17:41
Speaker 1: On your radio and online on iHeartRadio early edition with
17:45
Speaker 1: Ryan Bridge and Smith City, New Zealand's furniture bids and
17:49
Speaker 1: a playing store. News Talk said be.
17:53
Speaker 2: Now, Maks Karna sn myself, let you help me shell,
18:04
Speaker 2: good morning. It is twenty four away from six year
18:06
Speaker 2: on news talks, he'd be on Ryan Bridge. Trump is
18:09
Speaker 2: narrowly leading Biden in a new poll. This is pole
18:13
Speaker 2: was taken after the assassination attempts and what was it
18:16
Speaker 2: two weekends ago? Now, so the numbers forty three percent
18:20
Speaker 2: to forty one percent. This is the popular poll. And
18:23
Speaker 2: remember you can you can win the popular vote in
18:26
Speaker 2: the United States but actually not be president. It happened
18:29
Speaker 2: to Hillary Clinton because of the electoral college system. So
18:33
Speaker 2: just two points in it, and that still is within
18:36
Speaker 2: the margin of era as well. So I mean, certainly
18:38
Speaker 2: a bump for Trump. He's he's looking good but nothing
18:43
Speaker 2: is a sure thing, nothing is a done thing. We're
18:44
Speaker 2: going to talk to Mitch McCann who's in the States
18:48
Speaker 2: in about ten minutes time. Also, this fascinating photos out
18:52
Speaker 2: this morning, rare images of the Marsho Piro tribe. This
18:57
Speaker 2: is one of the uncontacted indigenous tribe in Peru in
19:01
Speaker 2: the Amazon Rainforest. They don't talk to anyone but themselves.
19:05
Speaker 2: They live in total isolation and there's photos of them
19:09
Speaker 2: which are very rare to be taken, let alone published,
19:13
Speaker 2: that are being published because they say that they are
19:15
Speaker 2: coming into more and more frequent contact with other humans
19:20
Speaker 2: because there's logging going on in the area and they
19:24
Speaker 2: say that it's basically destroying their local habitat and are
19:27
Speaker 2: coming out and running into loggers all the time. So
19:30
Speaker 2: photos have been taken and sad I would encourage you
19:32
Speaker 2: to go and have a look. It is fascinating that
19:35
Speaker 2: there are still people in the world today who live
19:38
Speaker 2: in total isolation from the rest of us. Twenty two
19:41
Speaker 2: away from.
19:41
Speaker 1: Six Bryan Bridge, right.
19:44
Speaker 2: Who're starting with Michael Sergle this morning, who has some
19:47
Speaker 2: news from Dunedin. Michael, the highest rates rise in the
19:51
Speaker 2: country is in the Deep South.
19:53
Speaker 6: Yes, every council in the country is raising rates faster
19:56
Speaker 6: than inflation, with some raising their rates five or even
19:59
Speaker 6: six times fast. Gore District facing the steepest rates rise
20:02
Speaker 6: in the country, with local rates up twenty one point
20:04
Speaker 6: four percent regional rates up thirteen point six six percent.
20:08
Speaker 6: Mayor Ben Bell blaming it on raising costs and what
20:11
Speaker 6: he calls broken funding and finance models. Also facing high
20:15
Speaker 6: rates rises the cyclone effect at Hawk's Bay, Westland District,
20:18
Speaker 6: Central Otago, Protdoa and Dunedin. The Eden's deputy mayor having
20:22
Speaker 6: sleepless nights about the scale of the rates rises. Council's
20:25
Speaker 6: telling us the costs of basics like insurance, interest, water, infrastructure,
20:29
Speaker 6: rubbish collections and roading all going up much faster than
20:32
Speaker 6: the CPI inflation figure.
20:33
Speaker 2: That there's a massive increase is in it And how's
20:36
Speaker 2: the weather?
20:36
Speaker 6: Interned and today lowcloud of possible shower this morning, fine
20:39
Speaker 6: this afternoon reaching eleven degrees.
20:41
Speaker 2: Thanks so much, Michael, Emily, Ansels and christ chats for
20:44
Speaker 2: us this morning. Emily. Work on Selwyn's Rollston College's second
20:48
Speaker 2: campus is recommencing.
20:50
Speaker 7: Yeah, morning, Ryan. It secured some small wins after the
20:53
Speaker 7: education Ministry slashed back its first stage. The college still
20:58
Speaker 7: loses offices and counseling, and its gym remains half the
21:02
Speaker 7: size originally proposed, but it's gained an extra sports field
21:06
Speaker 7: and a larger weights room, among other things. Now Principal
21:10
Speaker 7: Rachel Skelton says they'll fight to ensure Stage two begins
21:14
Speaker 7: immediately after Stage one's twenty twenty six opening. She says
21:18
Speaker 7: it's clear about needing a full high school with all
21:21
Speaker 7: functional parts, and they'll hold the Ministry to account as
21:24
Speaker 7: that is what children deserve.
21:27
Speaker 2: Weather today low.
21:28
Speaker 7: Cloud and patrie drizzle. Easterly is developing this afternoon with
21:31
Speaker 7: a high of twelve degrees.
21:33
Speaker 2: Thanks Emily, We're going to Azaria Howell, who's in Wellington
21:37
Speaker 2: for us this morning. Water reforms, what's going on here
21:40
Speaker 2: as AI.
21:41
Speaker 8: Yeah, councils in the Wellington region are essentially asking for
21:45
Speaker 8: more time around water reform.
21:47
Speaker 2: Now.
21:47
Speaker 8: Ten Lower North Island councils and local Government New Zealand
21:51
Speaker 8: separately have written to the government in a submission opposing
21:55
Speaker 8: the current timelines for local water done Well, which is
21:58
Speaker 8: the replacement for three Waters Now. It's worth noticing the
22:02
Speaker 8: bill is currently before Select Committee so it is being
22:05
Speaker 8: looked at further and could be changed. Upper Huts Council
22:09
Speaker 8: saying the timeline to submit a delivery plan within a
22:12
Speaker 8: year of the new bill's enactment is unrealistic. The councils
22:16
Speaker 8: are warning current deadlines to reach financial sustainability for water
22:20
Speaker 8: services by twenty twenty eight could cause challenges with affordability.
22:25
Speaker 8: The submission from the group of ten councils states it
22:28
Speaker 8: will take fifteen to twenty years of ongoing investment and
22:32
Speaker 8: will require the government to make some financial commitments as
22:35
Speaker 8: well before they can achieve that financially sustainable water network.
22:40
Speaker 8: Local Government Minister Simeon Brown says local water done well
22:44
Speaker 8: will enable councils and communities to determine what works best
22:48
Speaker 8: for them.
22:48
Speaker 2: Could take some time then. Azaria.
22:50
Speaker 8: Weather today, yeah, it could take some time. Wheather today
22:53
Speaker 8: mostly cloudy, drizzle here and there, clearing this evening, light
22:57
Speaker 8: winds across the capital and a high of fourteen today.
23:00
Speaker 2: Azari Hall and Wellington for us, thank you, never ready
23:03
Speaker 2: mantas with us in Auckland, good morning, good morning.
23:05
Speaker 9: I mean just on the back of Azaria is whether
23:08
Speaker 9: our biggest story.
23:09
Speaker 10: You're in Auckland is that four?
23:10
Speaker 2: Isn't it terrible? Worst I've seen it.
23:13
Speaker 9: Well, I'm glad you said that, because we were talking
23:16
Speaker 9: about that in the newsroom and I said, I've been
23:18
Speaker 9: living here now for twenty seven years, and that is
23:20
Speaker 9: the worst folk of you could barely see in front
23:23
Speaker 9: of you, I know, and I think three or four
23:25
Speaker 9: of us all arrived at the same time, because I
23:27
Speaker 9: mean I was only coming across town, but some of
23:29
Speaker 9: the others had to drive so slowly on the motorway.
23:31
Speaker 9: So if you're waking up this morning Auckland, you.
23:34
Speaker 2: Know it's seriously bad. Yeah, because everyone's old.
23:38
Speaker 10: Neh, you're so dramatic.
23:39
Speaker 2: No, I've never seen it that bad. Leo, our producer,
23:42
Speaker 2: said the same thing when he got in. So there's
23:45
Speaker 2: you're not alone.
23:46
Speaker 10: Yes, okay, Well that there you have it right.
23:49
Speaker 2: Switching for me. Actually, this is about remote work and
23:53
Speaker 2: working from home. Maybe you should just work from home today?
23:57
Speaker 9: Well you see, yes, very god, you're quite right, because
24:00
Speaker 9: this is a research room recruitment agency Robert Haff and
24:02
Speaker 9: it shows that forty percent of kiwis they are made
24:05
Speaker 9: to work five days in the office, but thirty percent
24:07
Speaker 9: of mandated for three or four now, Meghan Alexander says,
24:11
Speaker 9: look at employees, you've got to be clear with your
24:13
Speaker 9: reasons when you're making that switch, because she says, you
24:16
Speaker 9: know and as we know, employees there preferring net flexibility
24:20
Speaker 9: of hybrid work structure, leaving work, you know, when they
24:23
Speaker 9: need to pick up the kids.
24:24
Speaker 10: I think after the lockdown, it's never going to be
24:26
Speaker 10: the same, is it.
24:27
Speaker 11: No?
24:27
Speaker 2: I don't think so long.
24:28
Speaker 10: Absolutely so with this fog.
24:29
Speaker 2: Plus you'll die on the way to work with the fog,
24:32
Speaker 2: so just be careful. What about once the fog lives?
24:35
Speaker 2: What's the weather like?
24:36
Speaker 10: You know, cloudy in rain? Far of bed tidings a
24:40
Speaker 10: hive sixteen thanks.
24:41
Speaker 2: Never never read of Matam and what con for us?
24:43
Speaker 2: This morning? Seventeen away from Sexier on news Talk said
24:46
Speaker 2: b We're live to the States.
24:48
Speaker 1: Next international correspondence with ends and eye insurance, Peace of
24:52
Speaker 1: mind for New Zealand business.
24:55
Speaker 2: Fourteen to six. Big day for jd Vance, the Trump's
24:59
Speaker 2: peck for vice president as running mate for the campaign.
25:03
Speaker 2: Mitch mccannon's stateside for US Mitch, Good morning, big day
25:06
Speaker 2: for him his first speech as the nominee.
25:09
Speaker 11: Yeah, good afternoon, Ryan from the US where there is
25:11
Speaker 11: a new election drama.
25:12
Speaker 2: It seems every single hour of the last week.
25:15
Speaker 4: JD.
25:15
Speaker 11: Vance is going to be at the convention tonight. He's
25:17
Speaker 11: going to take center stage with that speech. And he
25:20
Speaker 11: was named as the VP pick only two days after
25:23
Speaker 11: Donald Trump was almost assassinated by that gunman in Pennsylvania.
25:28
Speaker 11: Tonight provides an opportunity for many in the country to find.
25:31
Speaker 2: Out what Vance is all about.
25:33
Speaker 11: He grew up poor in the Appalachians in southwest Ohio.
25:36
Speaker 11: He ended up going to the Yale Law School. He
25:39
Speaker 11: served in the military, he wrote a New York Times
25:41
Speaker 11: best selling memoir which was turned into a movie, and
25:44
Speaker 11: became a US senator. So tonight he's going to introduce
25:48
Speaker 11: himself to the country. And the theme of the convention tonight,
25:51
Speaker 11: Ryan is make America Strong Again. It will focus on
25:54
Speaker 11: foreign policy and border security.
25:57
Speaker 2: It follows last.
25:58
Speaker 11: Night's theme, which was make America Safe Again with a
26:01
Speaker 11: heavy emphasis on migrant crime.
26:04
Speaker 2: Right, let's go to the other side. Now, Joe Biden's
26:06
Speaker 2: in Nevada, Yes he is.
26:08
Speaker 11: He's speaking trying to court Latino voters today. And let's
26:12
Speaker 11: start with a new pole that's come out in just
26:14
Speaker 11: the last couple of hours showing how much trouble Joe
26:17
Speaker 11: Biden is in with his own party. The Associated Press
26:20
Speaker 11: poll found that nearly two thirds of Democrats say Joe
26:23
Speaker 11: Biden should withdraw from the presidential race and let his
26:26
Speaker 11: party nominate a different candidate. It also found only three
26:30
Speaker 11: and ten Democrats now are extremely or very confident he
26:33
Speaker 11: has the mental capacity to serve as president. So that's
26:37
Speaker 11: about thirty percent. Not good for Joe Biden. And we've
26:40
Speaker 11: also found out in the last hour Adam Schiff, a
26:43
Speaker 11: prominent Democrat from California, has written a letter asking for
26:47
Speaker 11: Joe Biden to step down. So while that assassination news,
26:50
Speaker 11: our attended assassination news, may have taken the spotlight of
26:53
Speaker 11: Joe Biden, it seems the issue of Democrats wanting to
26:56
Speaker 11: step down is not going anywhere.
26:58
Speaker 2: Yeah, I think Biden was hoping that that take the focus,
27:00
Speaker 2: the spotlight off it and he could just sneak on
27:03
Speaker 2: in there, But that may be wishful thinking. Mitch, thank
27:06
Speaker 2: you for that. Mitch McCann with US, a US correspondent.
27:09
Speaker 2: It is twelve away from.
27:11
Speaker 1: Six Ray and Bridge.
27:14
Speaker 2: Our banks, some of our banks, i should say, predicting
27:16
Speaker 2: rate cuts as soon as next month, following inflation dipping
27:19
Speaker 2: to a three year low, reaching three point three percent
27:22
Speaker 2: in the June quarter. That still falls outside the Reserve
27:25
Speaker 2: Banks target band of one to three percent. As we know,
27:28
Speaker 2: am Z's already reacted positively to the move. They've count
27:31
Speaker 2: their three year home loan rates to six point three
27:34
Speaker 2: five percent and the two year rate to six point
27:36
Speaker 2: four nine percent. Joining me now is ASB Senior economist
27:40
Speaker 2: Mark Smith, Mark, good morning to you, thanks for being
27:42
Speaker 2: with me.
27:43
Speaker 5: Good morning.
27:44
Speaker 2: Right, you're predicting two cuts before Christmas? Have I got
27:47
Speaker 2: that right? Yeah?
27:48
Speaker 5: That's correct. The twenty five basis point cut in October
27:52
Speaker 5: and then another twenty five basis point cut in November.
27:55
Speaker 2: Why won't we need to wait for the quarter three
27:58
Speaker 2: data for you to make that that prediction.
28:02
Speaker 5: It really comes down to a number of things impacting
28:05
Speaker 5: the inflation process. One, yes, the pres event really needs
28:10
Speaker 5: to be sure that inflation is going to be below
28:12
Speaker 5: three percent pore cutting, but they also need to see
28:15
Speaker 5: other things to be confident as well that it will
28:17
Speaker 5: stay there once they do cut. Now, to us, it's
28:21
Speaker 5: a number of factors. One, really, the economy is very soft,
28:25
Speaker 5: and pricing pressures are certainly calling. We've seen that in
28:29
Speaker 5: the inflation data. Essentially domestic inflation is calling. External inflation
28:35
Speaker 5: is eventually non existent. So we've had the COVID prehium
28:38
Speaker 5: and that's significantly unwinding in terms of the domestic inflation components.
28:44
Speaker 5: Pressures in the housing market are calling and it expected
28:48
Speaker 5: to call further. And some of those surfaces components are
28:51
Speaker 5: certainly calling as well, and there were linked the labor market,
28:55
Speaker 5: and it's really the major source of where we see
28:57
Speaker 5: inflation calling from here.
28:59
Speaker 2: What would be worse for the Reserve Bank? Would it
29:01
Speaker 2: be prolonged pain like we're seeing now or what happened
29:06
Speaker 2: in Australia where inflation bounce back up.
29:10
Speaker 5: Yeah, probably more of the latter. I think from the
29:13
Speaker 5: Reserve Bank's point of view, it's really it's like the
29:16
Speaker 5: regrets analysis. So really what you want to make sure
29:19
Speaker 5: is when you do start to ease policy, you have
29:23
Speaker 5: to be completely sure that inflation will settle below three resistent. Now,
29:28
Speaker 5: the RBA probably took there far off to break a
29:30
Speaker 5: little bit too early after the RBNSA. It's really that regret.
29:34
Speaker 5: But then on the other side of the coin, you
29:36
Speaker 5: don't want to drive the economy completely into the ground
29:41
Speaker 5: until you start to ease policy. So it's really a
29:43
Speaker 5: trade off between those two things. Now tournaments of the
29:47
Speaker 5: RBS's view, we think the view of the risks are
29:49
Speaker 5: certainly shifting. For what was certainly the risk is we
29:53
Speaker 5: want to make sure inflation is going to settle it
29:55
Speaker 5: below th represent. I think we are very confident of
29:58
Speaker 5: that now in the Reserve Bank increasing their confident that
30:01
Speaker 5: as well. But we're also mindful that there's significant damage
30:05
Speaker 5: that you can cause if you leave the OCA high
30:09
Speaker 5: for two long.
30:09
Speaker 2: Yeah, you don't want to screw the poach very quickly
30:12
Speaker 2: before we go how long before we feel richer? If
30:17
Speaker 2: you know what I mean, Because I mean it's one
30:19
Speaker 2: thing to cut rates and it's and it's you know,
30:21
Speaker 2: you're predicting two cuts by Christmas, But when will we
30:23
Speaker 2: actually feel like we're not so hard up?
30:29
Speaker 5: The thing is that a lot of the slowdown is
30:31
Speaker 5: policy induced, but there are other factors going on as well.
30:34
Speaker 5: Now it's going to be quite a while before that happens.
30:37
Speaker 5: And that's really the care reason why we think the
30:39
Speaker 5: Reserve that will start to cut the ocr and that's
30:43
Speaker 5: to provide a little bit of interest readily to people
30:46
Speaker 5: out there. We know a lot of households are struggling,
30:48
Speaker 5: but a lot of businesses are struggling as well. A
30:51
Speaker 5: corporate profitability is the lowest it's been as a share
30:54
Speaker 5: of incomes in the least thirty years. So they need
30:58
Speaker 5: to really provide some relief. Not they need to households,
31:01
Speaker 5: but the businesses as well.
31:02
Speaker 2: Mark, thanks very much for your time. That's Mark Smith,
31:04
Speaker 2: the ASB senior economists. After yesterday's inflation data still not
31:09
Speaker 2: in the band of one to three percent where it
31:10
Speaker 2: needs to be three point three percent for the June quarter.
31:14
Speaker 2: But Mark says, without even knowing what quarter three says,
31:18
Speaker 2: they are picking a rate cut. A two rate cuts,
31:21
Speaker 2: I should say, by Christmas, one in October and one
31:24
Speaker 2: in November. Mike Hosking Next, News and Views you trust
31:28
Speaker 2: to start your day.
31:29
Speaker 1: It's early edition with Ryan Bridge and Smith City, New
31:33
Speaker 1: Zealand's Furniture Beds and a playing store. News Talk zid.
31:36
Speaker 2: Be six to six on news Talks, it'd be Mike
31:39
Speaker 2: Hosking is with your next Good morning.
31:42
Speaker 12: Yes, good morning, good good news.
31:45
Speaker 2: Right.
31:46
Speaker 12: No, it was the introduction. It was sort of like
31:47
Speaker 12: you were going to say something and delay me, and
31:49
Speaker 12: I thought, okay, fair enough, old check out, and then
31:52
Speaker 12: suddenly I'm on, sorry, no, don't apologize the electricity. So
31:56
Speaker 12: you're talking about t y yes earlier on. So so
31:59
Speaker 12: we've got Electric Kiwi on this morning, and I'm pretty
32:01
Speaker 12: sure we've had them on before, and so they're never
32:04
Speaker 12: taking they're not taking any new customers at the moment
32:06
Speaker 12: because they because of the wholesale market in this country.
32:10
Speaker 12: It's very convolute and complex sort of system we run
32:12
Speaker 12: in this country, but it's all supply and demand based
32:14
Speaker 12: at the end of the day, and so if you
32:15
Speaker 12: doesn't rain enough and then your your hydro goes down
32:18
Speaker 12: and then suddenly the price spikes and stuff like that.
32:20
Speaker 12: People like Electric Kiwi, who are just retailers, can't afford
32:24
Speaker 12: to take on any new customers based on the fact
32:26
Speaker 12: that every customer you take on at the current price
32:28
Speaker 12: you're paying for power.
32:29
Speaker 2: Of course, they're losing dough because wholesale has gone up,
32:31
Speaker 2: so they.
32:31
Speaker 12: Need They're arguing, you want to do something with the market.
32:34
Speaker 12: My problem is I can't work out what it is
32:36
Speaker 12: they want to do with the market because most of
32:38
Speaker 12: the people, of course are make any money a gen tailor,
32:40
Speaker 12: so you generate plus you retail, and therefore that's the
32:43
Speaker 12: way to do it, whereas people like him come along
32:45
Speaker 12: and go right, I'll go to you. You generate the power,
32:48
Speaker 12: tell me how much you're going to charge me for
32:50
Speaker 12: a unit, I'll buy it off you. And then I've
32:52
Speaker 12: got to flick it on to say you as a
32:53
Speaker 12: customer at a profit, and I can't do that anymore.
32:56
Speaker 2: And so the market.
32:57
Speaker 12: Doesn't seem to work if you're looking to generate competition,
33:00
Speaker 12: and so that you're sitting at home going, oh my god,
33:02
Speaker 12: my power bills four hundred dollars? Where do I go?
33:04
Speaker 12: Can I change companies? All that sort of stuff, So
33:06
Speaker 12: it seems a bit stuck. Yeah, So he wants the
33:08
Speaker 12: Commerce Commission involved, which is interesting because of course the
33:10
Speaker 12: Commas Commission, Greg Forum, we're also talking to you this morning.
33:14
Speaker 12: He'll be happy on our behalf, he claims, But Review
33:16
Speaker 12: is only happy on behalf of himself, based on the
33:18
Speaker 12: fact that the costs being passed on by Auckland Airport
33:22
Speaker 12: and their redevelopment have been pinged by the Commerce Commission
33:24
Speaker 12: as being excessive. Yeah, and therefore, when you pass it
33:28
Speaker 12: on to the airlines. The airlines of course passed it
33:30
Speaker 12: on to us, and you and I end up paying
33:31
Speaker 12: for a flash airport at Auckland and so see, you see,
33:34
Speaker 12: it's all a convoluted mess at the moment.
33:37
Speaker 2: But we'll wait, or you will help out.
33:38
Speaker 12: We will wade our way through it this morning.
33:40
Speaker 2: Break it down this morning. Thank you, Mike. Mike with
33:43
Speaker 2: you after six o'clock. It is coming up four to two.
33:46
Speaker 2: I'll be back with you tomorrow for your Friday edition
33:49
Speaker 2: of Early Edition. Have a great day.
34:06
Speaker 1: For more from News Talk set B, listen live on
34:09
Speaker 1: air or online, and keep our shows with you wherever
34:12
Speaker 1: you go with our podcasts on iHeartRadio