Latest / Early Edition with Ryan Bridge / Full Show Podcast: 21 July 2026
Transcript
- 0:00Speaker 1: The issues, the interviews and the insight. Ryan Bridge on
- 0:05Speaker 1: early edition with Spark for business technology that keeps business moving,
- 0:09Speaker 1: news talks.
- 0:10Speaker 2: They'd be six after five.
- 0:11Speaker 3: Bread to have you company this morning. We'll look at
- 0:13Speaker 3: inflation for June. That's coming up to the full top
- 0:15Speaker 3: of the hour. Donners in Australia for US, Andy Burnham
- 0:18Speaker 3: of course, and Simon Court on the RMA Reforms the
- 0:22Speaker 3: Agenda Tuesday, the twenty first of July. Yes, so Burnham
- 0:25Speaker 3: is in at number ten and borrowing costs are going
- 0:27Speaker 3: up every time he opens his mouth.
- 0:29Speaker 4: I will bring forward a new plan for Britain, a
- 0:34Speaker 4: ten year plan, laying out a path from where we
- 0:38Speaker 4: are now to where I believe we all want Britain
- 0:41Speaker 4: to be, wherever we're coming from, whatever party we support.
- 0:46Speaker 3: Ten year guilts up almost a percent after his speech
- 0:49Speaker 3: outside number ten. Rachel Reeves, by the way, Chancellor under Starmer.
- 0:52Speaker 3: She's been given the sack, offered a big job, big
- 0:55Speaker 3: job for a big girl in Burnham's cabinet, but she declined.
- 0:59Speaker 5: And that was the thing with Rachel Reeves. Did she
- 1:01Speaker 5: want to take a smaller role. She's obviously been offered
- 1:04Speaker 5: something and she just thought now I don't want to
- 1:06Speaker 5: do that, so she's going back to the back benches.
- 1:09Speaker 5: You know, you can understand why in a way, because
- 1:12Speaker 5: being Chancellor of the Stacker was the job she always wanted.
- 1:16Speaker 3: David Lemmy gone, Steve Reid gone, Peter Carl gone. Who's
- 1:19Speaker 3: in for the chance of the job. Well, it seems
- 1:22Speaker 3: to be a toss up at the moment between Matt
- 1:24Speaker 3: mud and between Ed millerband. I'll tell you about that
- 1:27Speaker 3: in a second. Let's go to Spain when it's celebrating in.
- 1:31Speaker 1: Twenty twenty six the chumpions of the world.
- 1:36Speaker 3: A stain as we're gone, told the game, we can
- 1:40Speaker 3: see nothing, So I think we play on amazing football.
- 1:43Speaker 3: We he said, for this trophy and the Argetitornian coaching tears.
- 1:46Speaker 6: We have tried to give our best to the last minute,
- 1:49Speaker 6: the coaches, the players, and I think it's fair for
- 1:52Speaker 6: me to take some time off.
- 1:53Speaker 3: And Trump handed out the trophy, a big trophy for
- 1:56Speaker 3: a big boy, calling it a wooden for America.
- 1:58Speaker 1: This was one of the greatest events of any kind
- 2:01Speaker 1: over hell, so you we're really happy that it did
- 2:04Speaker 1: so well.
- 2:05Speaker 3: And all over the world people.
- 2:06Speaker 4: Have come and they've loved our country.
- 2:10Speaker 1: Shame about the fighting of the headlines on early edition
- 2:14Speaker 1: with Ryan Bridge and Spuck for business Technology that keeps
- 2:18Speaker 1: business moving news talks.
- 2:19Speaker 3: That'd be shame about the fighting, wasn't it? Did you
- 2:22Speaker 3: see that after that? While it was during and after
- 2:24Speaker 3: the game, they started fighting. Although we don't do. Some
- 2:27Speaker 3: athletes fight. And when I see athletes get angry, and
- 2:30Speaker 3: you know, the tennis players throw their rackets around, the
- 2:33Speaker 3: rugby players sort of slap each other a little bit.
- 2:35Speaker 3: I think we're asking them to go out there and
- 2:38Speaker 3: physically attack each other and put everything on the line
- 2:42Speaker 3: and put them under all the stress and then expect
- 2:44Speaker 3: them to act like saints and angels. I think it's
- 2:47Speaker 3: it's kind of a you're on hiding to nothing, you know.
- 2:51Speaker 3: Nine nine two is the number tw text would love
- 2:53Speaker 3: to hear from you this morning. Year so Burnham and
- 2:55Speaker 3: number ten okay, great. The yield on ten year guilt
- 2:59Speaker 3: is up zero point zero eight points to five percent
- 3:02Speaker 3: after his speech outside number ten, which by the way,
- 3:05Speaker 3: he did he stood there outside number ten without electurn
- 3:09Speaker 3: and I mean already there are essays like biblical length
- 3:14Speaker 3: essays about how this commun new communication style is how
- 3:18Speaker 3: cool it is because he doesn't have electurn therefore he
- 3:21Speaker 3: doesn't have notes. Therefore he is more effective at communicating.
- 3:25Speaker 3: So they say. Anyway, he goes out there and he says,
- 3:29Speaker 3: we need to give people breathing space with the cost
- 3:32Speaker 3: of living, and the markets go, h does that mean borrowing?
- 3:37Speaker 3: He talked also about being flexible with the fiscal rules,
- 3:42Speaker 3: and the markets go, is that more borrowing? He says,
- 3:45Speaker 3: we will help more young people into work by changing
- 3:48Speaker 3: the education system and giving them more support, more mental
- 3:51Speaker 3: health support, and we will build more council homes, and
- 3:54Speaker 3: the markets go, you guessed it is that more borrowing?
- 3:58Speaker 3: And it certainly does sound like that, doesn't it. Do
- 4:00Speaker 3: we have any detail yet? No, we don't. He'll do
- 4:02Speaker 3: that sometime in the next few weeks. A ten year plan.
- 4:06Speaker 3: He's going to give us. The only ten year number
- 4:08Speaker 3: that's being changed or the detail we have on ten
- 4:11Speaker 3: years at the moment is that the guilts yields are
- 4:13Speaker 3: going up ten after five. Bryan Bridge another shocker of
- 4:18Speaker 3: the story out of Australia. If you're an Australian taxpayer,
- 4:21Speaker 3: and let's face it, a lot of kiwis are then
- 4:24Speaker 3: a another shocking story of what they're spending their money
- 4:27Speaker 3: on over there. We'll get to that. Lucky it's not us.
- 4:30Speaker 3: We'll get to that in a second. But next it
- 4:31Speaker 3: is as Simon Court, they've changed or are going to
- 4:34Speaker 3: change the RMA. It's affecting EWE. He'll explain that to
- 4:37Speaker 3: us next.
- 4:38Speaker 1: The Early Edition Full Show podcast on iHeartRadio powered by
- 4:42Speaker 1: Newstalks at b Bryan Bridge on Early Edition with Spark
- 4:48Speaker 1: for business Technology that keeps business moving NEWSTALKSB five twelve.
- 4:53Speaker 3: Thank God, you're not a taxpayer in Australia unless you're
- 4:56Speaker 3: visiting here and you're in Australian then prepared a cringe
- 4:59Speaker 3: climate change there Chris Bowen. He's been in the job
- 5:02Speaker 3: since twenty twenty two, but he's also the COP thirty
- 5:05Speaker 3: one Chief Negotiator. Fancy job title, costing the Australians quite
- 5:10Speaker 3: a lot though, because he is the president, which means
- 5:13Speaker 3: they foot the bill for a bunch of stuff ahead
- 5:15Speaker 3: of COP which is a big climate change meeting. So
- 5:18Speaker 3: it's been held in obviously twenty thirty one, but there's
- 5:20Speaker 3: a pre meeting of course for all the bureaucrats. Four
- 5:24Speaker 3: point two million dollars has been spent locking in accommodation
- 5:28Speaker 3: for foreign bureaucrats at luxury five star results and Fiji.
- 5:32Speaker 3: This is Australian tax payer money comes off the back
- 5:35Speaker 3: of that eighty grand to see just sind to speak
- 5:37Speaker 3: that we spoke about the other day. This is just outrageous.
- 5:40Speaker 3: Department of Climate Change, Energy and the Environment and water.
- 5:45Speaker 3: You know, I would be here all day if I
- 5:47Speaker 3: had to say that more than once. Four point two
- 5:50Speaker 3: million dollars. The event is from October fifth to eighth,
- 5:54Speaker 3: and he is presiding over the conference as he is.
- 5:58Speaker 3: The conference of the party's co president, Sherat and Fiji
- 6:02Speaker 3: Golf and Beach resort if you've stayed their five star
- 6:04Speaker 3: waterfront getaway eighteen hole golf course features up to twelve
- 6:07Speaker 3: hundred dollars a night per room there nice and some
- 6:11Speaker 3: of the foreign delegations will pay their costs back, but
- 6:15Speaker 3: certainly not all. And they don't know how many will
- 6:18Speaker 3: how many won't interestingly ahead of this, so this is
- 6:22Speaker 3: a pre conference conference. Now, before they even got to
- 6:26Speaker 3: the pre conference conference, you had staff members spending twenty
- 6:31Speaker 3: four thousand dollars from the DCCEEW Because I'm not saying
- 6:37Speaker 3: the words of the Department out again, fly business class
- 6:42Speaker 3: to Fiji on a pre cop pre cop operational scoping
- 6:48Speaker 3: visit and bread rich. The way we talk to counsel
- 6:53Speaker 3: about their treaty rights is changing under new RMA law changes.
- 6:56Speaker 3: The government wants to bring in existing MANA Fukee agreements,
- 7:00Speaker 3: the old ones being ripped up. They'll get replaced by
- 7:02Speaker 3: EWE participation agreements, which recognize treaty settlements with the EWI.
- 7:08Speaker 3: They give EWE participation rights. Basically, they're voluntary things and practice.
- 7:12Speaker 3: What does this mean in a council's spatial plan. The
- 7:15Speaker 3: law says council should map areas that are significant to MALDI,
- 7:18Speaker 3: like pass sites or like burial grounds. The law requires
- 7:22Speaker 3: these to be protected and under this they would be.
- 7:25Speaker 3: Simon Court, as Parliamentary Under Secretary to the Minister for
- 7:28Speaker 3: RMA Reform, is with me this morning. Simon, good morning,
- 7:31Speaker 3: Good morning Ryan. Why did you have to get rid
- 7:33Speaker 3: of the old agreements.
- 7:36Speaker 2: Well, the problem is we had provided to some existing
- 7:39Speaker 2: ones potentially to transfer over into the new system. But
- 7:44Speaker 2: what happened was a whole bunch of councils, EWI and
- 7:47Speaker 2: HAPU decided they were going to stand up a whole
- 7:50Speaker 2: lot of new agreements before the new system takes effect,
- 7:54Speaker 2: and Chris Bosha and I looked at that and said, well,
- 7:56Speaker 2: these are not going to fit their out of scope.
- 8:00Speaker 2: Auckland Council one, for example, says that Northland Council doesn't
- 8:05Speaker 2: or Northern Council agrees with Napoli that they never set
- 8:10Speaker 2: a sovereignty to the government. Now you can't have councils
- 8:13Speaker 2: making agreements with different EWI where they don't even agree
- 8:18Speaker 2: the government makes the law. So we've said that's not
- 8:22Speaker 2: coming from the RMA. We're going to put a hard
- 8:24Speaker 2: stop on that, and we're going to set up a
- 8:27Speaker 2: new system of consultation and engagement which essentially fulfills the
- 8:32Speaker 2: Crown's treaty obligations in a way that has clear guardrails,
- 8:37Speaker 2: so it can't be gained by councils and other groups
- 8:41Speaker 2: in the future.
- 8:42Speaker 3: How does this the old ones? Well, I mean, what
- 8:47Speaker 3: is whether someone said in sovereignty to the crown or
- 8:49Speaker 3: not got to do with the relationship between an EWE
- 8:52Speaker 3: and a council. Wouldn't that be something that an EE
- 8:54Speaker 3: would raise were a government.
- 8:57Speaker 2: Well, the problem is in twenty seventeen the RMA changes
- 9:01Speaker 2: agreed to between National and the Maori Party were so
- 9:06Speaker 2: wide open that just about anything could be in an
- 9:10Speaker 2: agreement that's simply supposed to be about planning matters. In
- 9:13Speaker 2: other words, as you pointed out, where are the sites
- 9:16Speaker 2: of cultural significance to Marii? Where are wah tapu or
- 9:20Speaker 2: burial grounds? But that's not how it went. In some
- 9:25Speaker 2: cases there was a shift from general consultation or making
- 9:28Speaker 2: sure counsels had the right knowledge to co governance and
- 9:31Speaker 2: co co management models. There were expanded roles and appointments,
- 9:37Speaker 2: and ratepayers were funding a lot of this participation in
- 9:42Speaker 2: a way that is unacceptable to most rate payers. What
- 9:46Speaker 2: we've seen in Northland is essentially a revolt by one councilor,
- 9:50Speaker 2: at least it's Devenus Smolders, who's an act counselor up
- 9:54Speaker 2: there in Northland, pointing out that none of this is
- 9:57Speaker 2: necessary in order to make sure that we know where
- 10:00Speaker 2: the special sites are and to give effects to the
- 10:03Speaker 2: Crown's obligations when it comes to treaty settlements.
- 10:06Speaker 3: All right. Simon Court, Parliamentary under Secretary to the Minister
- 10:08Speaker 3: for RMA Reformed. Time is eighteen after five Ryan Bridge
- 10:12Speaker 3: and just up, don't you the former defense secretary John Healley.
- 10:15Speaker 3: This is Burnham over in the UK who's replaced Starmer. Well.
- 10:19Speaker 3: Starmer had John Healey as his defense secretary. Remember we
- 10:22Speaker 3: talked about that and then he resigned because he wanted
- 10:25Speaker 3: more money for defense so that they could protect themselves
- 10:28Speaker 3: and insulate themselves after America pulled out of Europe all
- 10:31Speaker 3: By pulled out. He has now being made the chancellor.
- 10:35Speaker 3: So Burnham has gone with the guy that quit under
- 10:39Speaker 3: Starmer as his chancellor. Eighteen after five News Talks.
- 10:43Speaker 1: Ab the early edition Full the Show podcast on iHeartRadio
- 10:48Speaker 1: powered by News Talks at Me.
- 10:51Speaker 3: The news you.
- 10:52Speaker 1: Need this morning and the in depth analysis Early edition
- 10:56Speaker 1: with Ryan Bridge and Spark for Business Technology that yef's
- 11:00Speaker 1: business Moving News Talk ZEDB.
- 11:02Speaker 3: Twenty one after five. We'll get a number four inflation
- 11:04Speaker 3: the June quarter coming out this morning. Lady, this morning,
- 11:07Speaker 3: we'll talk to Cameron Baggery in about twenty minutes time.
- 11:09Speaker 3: You're on news Talk, said b Bryan Bridge. Let's go
- 11:12Speaker 3: to the UK starmers out Andy Burnham's inn.
- 11:15Speaker 4: I have just come from Bookingham Palace where I have
- 11:20Speaker 4: accepted his majesty the King's invitation to form a government.
- 11:26Speaker 4: It requires my generation of politicians to raise our game
- 11:33Speaker 4: and raise to the new challenge.
- 11:36Speaker 3: Now he has just announced John Healy, who was Starmer's
- 11:39Speaker 3: defense sectory, you know, the guy that quit and then
- 11:42Speaker 3: got replaced. He has been announced as his chancellor. Joining
- 11:46Speaker 3: us live as Lucy Fisher Financial Times at Whitehall Editor, Lucy,
- 11:50Speaker 3: was that a surprise?
- 11:53Speaker 7: Well, it was a surprise because as recently as last
- 11:56Speaker 7: week it appeared that Shabanama moved the Home Secretary was
- 11:59Speaker 7: neil to be chancellor, but that news had sparked a
- 12:03Speaker 7: backlash against her and her politics. She comes from the
- 12:07Speaker 7: right of the party, whereas John Heally combines a background
- 12:11Speaker 7: as a trade unionist with new labor credentials and therefore
- 12:15Speaker 7: means he's perhaps better able to straddle the political divide
- 12:19Speaker 7: in the party as Burnham seeks to unite labor and
- 12:23Speaker 7: move forward.
- 12:25Speaker 3: What does it do because I likee that. You know,
- 12:27Speaker 3: every time Burnham out in his mouth, they yield on
- 12:29Speaker 3: tenure guilts started to rise. What do you think the
- 12:33Speaker 3: announcement of John Heally will do for the markets?
- 12:37Speaker 7: Well, I suspect there will be fairly little movement he's
- 12:40Speaker 7: a pretty sober and serious character. He has some standing
- 12:45Speaker 7: on the world stage as a former Defense secretary. Clearly,
- 12:49Speaker 7: you know, he quit last months as from that role,
- 12:53Speaker 7: demanding that the UK government needed to move to spend
- 12:57Speaker 7: three percent of GDP on the sense at the moment
- 13:01Speaker 7: Britain is only on track to spend two point seven
- 13:03Speaker 7: by twenty thirty. However, I don't think anyone presumes that
- 13:08Speaker 7: heally will be precipitous in terms of wanting to look
- 13:12Speaker 7: to you know, easy money, to borrowing simply to fill
- 13:16Speaker 7: that gap. You know, he's a he's a pretty hard headed,
- 13:21Speaker 7: you know, is his thinking on fiscal policy. So I
- 13:26Speaker 7: think you'll be regarded as a serious choice, as a
- 13:29Speaker 7: choice that suggests the UK is serious about a major
- 13:33Speaker 7: defense spending up lift, but not not someone who's going
- 13:38Speaker 7: to take easy options to get there.
- 13:40Speaker 3: What about Burnham's space. He talked about giving people breathing
- 13:43Speaker 3: rome with the cost of living, He talked about flexibility
- 13:46Speaker 3: with the fiscal rules. Do we actually know did he
- 13:48Speaker 3: say anything of substance?
- 13:51Speaker 7: Well, in a in it will heard No. He made
- 13:55Speaker 7: one key new pledge to end rough sleeping that's already
- 13:59Speaker 7: got critics pointing out that he didn't manage that in Manchester,
- 14:04Speaker 7: where he made a similar pledge when he arrived as mayor.
- 14:08Speaker 7: In a briefing with political editors shortly after his speech,
- 14:12Speaker 7: he gave some hint that he might look at raising
- 14:16Speaker 7: the threshold for the personal allowance for income tax. It's
- 14:20Speaker 7: currently around twelve and a half thousand pounds that could
- 14:23Speaker 7: go up. You also hinted he might look at introducing
- 14:27Speaker 7: a new higher level of top rate of income tax
- 14:32Speaker 7: for the highest earners. So some clues there as to
- 14:35Speaker 7: how he might look to fund some of his retail policies.
- 14:39Speaker 3: Lucy Fisher, Financial Times Whitehall Editor, appreciate your update twenty
- 14:43Speaker 3: four minutes after five. So that rough sleeping policy that
- 14:47Speaker 3: Lucy was just talking to us about. So he announced
- 14:50Speaker 3: seven hundred and eighty million New Zealand dollars over three years,
- 14:54Speaker 3: almost a billion dollars over three years for rough sleeping.
- 14:57Speaker 3: This is a guy who, as Lucy said, made the
- 15:00Speaker 3: the same promise, had similar goals when he was King
- 15:04Speaker 3: of the North, Greater Manchester mayor. Four years of rising
- 15:08Speaker 3: street homelessness as a result. So you can make all
- 15:12Speaker 3: the promises in the world, but clearly the numbers in
- 15:15Speaker 3: terms of homelessness don't lie. And by the way, the
- 15:18Speaker 3: seven hundred and eighty million dollars that he has just
- 15:20Speaker 3: announced comes on top of the eight billion dollars that
- 15:25Speaker 3: the previous government allocated for its homelessness strategy. And are
- 15:28Speaker 3: the people still living on the streets in London and
- 15:32Speaker 3: in Manchester? Yes, there are news talks thereb we'll look
- 15:35Speaker 3: at corporate welfare next five twenty seven news talks. There
- 15:38Speaker 3: be a sixty million dollar corporate welfare check for golden
- 15:41Speaker 3: based cement is fixing a symptom, but not the disease.
- 15:44Speaker 3: It's papering over the cracks. It's tax payer money. It's
- 15:47Speaker 3: not alone, it's free money. Owner Fletcher Building has agreed
- 15:51Speaker 3: in return to keep the thing open until twenty forty
- 15:54Speaker 3: at a minimum, and invest one hundred and fifty million
- 15:56Speaker 3: phased over time. No doubt cement is important for building
- 16:00Speaker 3: the country. But so was refined oil. We offshowed that.
- 16:04Speaker 3: So is milled timber, which we are letting go. So
- 16:07Speaker 3: is food production, which we're letting fall over too. This
- 16:10Speaker 3: is the problem with welfare. Once you start handing it out,
- 16:13Speaker 3: everyone wants a piece of the pie. Fletcher building is
- 16:15Speaker 3: a conglomerate listed both here and on the ASX. The
- 16:18Speaker 3: results are due out next month, which will now be
- 16:21Speaker 3: watched very closely. Last week the company increased its earnings
- 16:24Speaker 3: guidance and turned a forty five million dollar profit in
- 16:26Speaker 3: the half year to December. Sure, it's not without its problems.
- 16:30Speaker 3: We've kept you updated on the rig structures, the legacy issues,
- 16:33Speaker 3: the general state of construction. The only reason the government
- 16:36Speaker 3: is doing this, though, in my view, is because unlike
- 16:39Speaker 3: there are other examples of the paper mills and the
- 16:41Speaker 3: watties and what have views, this one's caused not just
- 16:44Speaker 3: by the price of labor and energy going north. It's
- 16:48Speaker 3: the ETS. Fletcher's buyas credits to emit carbon while making
- 16:53Speaker 3: its cement. This cost made the Northern plant unviable, dead
- 16:57Speaker 3: man walking. You can import cheap cements from offshore where
- 17:01Speaker 3: they don't pay for these emissions, which makes them a
- 17:04Speaker 3: cheaper option, and we get undercut. The government reckons they
- 17:07Speaker 3: want went with a bailout here rather than changing the
- 17:11Speaker 3: ETS rules because they didn't want companies lining up for handouts.
- 17:16Speaker 3: But that is exactly what will happen anyway. Any plant
- 17:20Speaker 3: at risk of closure paying for emissions is now fair game.
- 17:24Speaker 3: This might look like a small ish payment to a
- 17:28Speaker 3: single business, but it's actually a blank check. They've just
- 17:31Speaker 3: signed with the election around the corner, and guess what
- 17:35Speaker 3: the sky's the limit? Bryan Bridge, after five, you're on
- 17:40Speaker 3: News TALKSB nine nine two the number two text We're
- 17:43Speaker 3: like to Australia.
- 17:44Speaker 1: Next the early edition full the show podcast on iHeartRadio,
- 17:52Speaker 1: power by News TALKSV Here at first, Ryan Bridge on
- 17:58Speaker 1: early edition with sparks for this technology that keeps business
- 18:02Speaker 1: moving News Talks B now.
- 18:07Speaker 4: Sign my.
- 18:12Speaker 3: Pretty far away from six yer on News Talks, they'd
- 18:13Speaker 3: be coming up before top of the other. Look at
- 18:15Speaker 3: inflation should be somewhere between three point nine and four
- 18:18Speaker 3: point two percent. You'll hear about that on News Talks.
- 18:20Speaker 3: Here'd be this morning. Later on. Also we will go
- 18:22Speaker 3: to Australia with Donald Tomao. The Houthis and Yemen, they're
- 18:26Speaker 3: sort of getting their backs up again. Their heckels are up.
- 18:30Speaker 3: They have announced a maritime blockade on Saudi Arabia. Now
- 18:33Speaker 3: this is interesting because the Saudis obviously used the straight
- 18:36Speaker 3: of horn moves and the straight of hor movees is
- 18:38Speaker 3: a bit of a cluster at the moment. So this
- 18:40Speaker 3: sort of root b is the bub Al Mandab straight
- 18:43Speaker 3: you've probably heard of people talk about that before. This
- 18:45Speaker 3: is the Red Sea and of course the houthis Yemen
- 18:49Speaker 3: borders it. And so what they're planning to do is
- 18:53Speaker 3: start the attacks and the Red Sea again. And they
- 18:56Speaker 3: have announced this blockade of Saudi Arabia. How effective it
- 18:59Speaker 3: will be this obviously is important because it's a flow
- 19:01Speaker 3: of oil around the world and not just one but
- 19:03Speaker 3: now two straits. But the question is how effective they
- 19:06Speaker 3: can be and how much they're backed by Iran. Sure,
- 19:09Speaker 3: but Iran's got its own problems at the moment. Do
- 19:11Speaker 3: they have the capability, do they have the military, you know,
- 19:14Speaker 3: their missiles, do they have the speedboats, do they have
- 19:17Speaker 3: the manpower? Those are the questions we don't quite know yet.
- 19:21Speaker 3: Twenty three away from six Ray and Bridge, let's got
- 19:25Speaker 3: to come them into need and Collum, Good morning morning, Ryan.
- 19:28Speaker 3: So Greenhouse gas targets and the council is having a
- 19:32Speaker 3: bit of a one eight on this look they are,
- 19:36Speaker 3: Ryan here.
- 19:37Speaker 8: They going back to the drawing board to look at
- 19:38Speaker 8: their targets and possibly revise them, and they'll do that
- 19:42Speaker 8: today in a meeting, they'll decide whether to keep the
- 19:44Speaker 8: existing target from seven years ago or replace it with
- 19:47Speaker 8: a new framework based on current evidence.
- 19:50Speaker 3: This follows advice.
- 19:52Speaker 8: That they received last year that the Council's twenty thirty
- 19:55Speaker 8: net zero goal cannot be met, But the report says
- 19:59Speaker 8: to need and is still making progress on cutting emissions,
- 20:01Speaker 8: with levels falling thirteen percent over the past seven years.
- 20:05Speaker 8: Daneed and also on track to meet at separate methane
- 20:07Speaker 8: reduction target emissions. They're already reducing faster than required for
- 20:12Speaker 8: twenty thirty. Any agreed changes to those targets, Ryan will
- 20:15Speaker 8: be presented later this year.
- 20:18Speaker 3: How's your weather.
- 20:19Speaker 8: Frosty starts, but a mostly fine day today fourteen the
- 20:23Speaker 8: height all right clear than.
- 20:24Speaker 3: Christ this morning. Claire, good morning. You got a jobs
- 20:26Speaker 3: report with mixed signals.
- 20:28Speaker 9: Yeah, this is interesting.
- 20:29Speaker 10: Employment Hero's latest jobs report shows that small and medium
- 20:32Speaker 10: businesses here in Canterbury are indeed continuing to grow their
- 20:35Speaker 10: head counts, but interestingly, the annual wage growth is falling
- 20:40Speaker 10: zero seven point three percent rather in a year. Managing
- 20:44Speaker 10: Director of Asia Pacific James Keane says this is really
- 20:46Speaker 10: interesting given Canterbury's reputation as being the resilient region with
- 20:50Speaker 10: plenty of positive economic signs. He says they expect the
- 20:54Speaker 10: numbers to actually pick up eventually, but businesses at the
- 20:56Speaker 10: moment are being very cautious. Keane says businesses do need
- 21:00Speaker 10: to have confidence in the market ahead and eventually look
- 21:03Speaker 10: at passing that growth on so that it's reflected in employees' wages.
- 21:06Speaker 3: How'd you wear the clear?
- 21:08Speaker 10: Another frost start should clear to find Northerly's dying down
- 21:11Speaker 10: and a high thirteen.
- 21:12Speaker 3: Thank you to beas and Wellington to bes Good morning
- 21:14Speaker 3: to you. You've got court ordered receivership for eight Wellington companies, Yeah.
- 21:19Speaker 6: Sure do Ryan. These are controlled by so called Wellington
- 21:22Speaker 6: mega landlord Matthew Ryan. So Business Desk reports that more
- 21:26Speaker 6: than seventy properties are owned by these companies, which all
- 21:29Speaker 6: appear to relate to property investment and development. So the
- 21:33Speaker 6: receivership follows a property dispute between Ryan and his former
- 21:37Speaker 6: partner Bdo Wellington. Receivers will take control of the company's
- 21:41Speaker 6: their assets and their income streams until the court receives
- 21:44Speaker 6: further updates. The business collapses come as Ryan faces charges
- 21:48Speaker 6: relating to allegedly making and distributing intimate visual recordings. He
- 21:52Speaker 6: also appeared in court last year on charges including firearm
- 21:56Speaker 6: possession and strangulation.
- 21:58Speaker 3: Goodness me, how's your weather?
- 22:00Speaker 6: Some morning frost around in Wellington today? Just some light
- 22:03Speaker 6: in northern least developing this morning and twelve degrees our height.
- 22:06Speaker 3: Nice one, thank you. And guess HER's back in the
- 22:09Speaker 3: studio this morning. That beautiful, beautiful voice you've all missed,
- 22:15Speaker 3: piercing laugh. Yeah, how are you, neighbor. I'm good, mosterie.
- 22:19Speaker 3: Good to have you back.
- 22:20Speaker 9: I tell you I had such a great week off.
- 22:22Speaker 9: It was a staycation. I just stayed in Auckland, but
- 22:24Speaker 9: just a jobs like cleaning the wardrobe, getting rid of
- 22:27Speaker 9: clothes that I don't wear in shoes and having a
- 22:29Speaker 9: lot of sleep. So now I'm full of energy. Good
- 22:31Speaker 9: it will be gone by nine seven. You look great, Oh,
- 22:34Speaker 9: thank you. You look like you've sort of reversed two years.
- 22:39Speaker 9: So do you though, I feel like your age.
- 22:41Speaker 3: Now, let's not push things. Tell us about the central interceptor.
- 22:46Speaker 3: The tunnel. It's done, it's.
- 22:47Speaker 9: Done, complete it on time. So Wayne Brown says that
- 22:51Speaker 9: the cities this is the spanking central interceptor. It's going
- 22:56Speaker 9: to improve waterways for generations to come. That's his words.
- 23:00Speaker 9: So this is the wastewater tunnel. It runs from among
- 23:02Speaker 9: it Air to Herne Bay's Point Aerin. It's gone live now.
- 23:06Speaker 9: This is underground through the supercity. It's about sixteen kilometers.
- 23:10Speaker 9: And what this does it prevents wastewater overflowing and it
- 23:13Speaker 9: also helps with flooding. So very very important for our waterways.
- 23:17Speaker 9: And it's really good to celebrate that it's actually done
- 23:19Speaker 9: and done on time.
- 23:20Speaker 3: Yeah, and on budget. One point seven million dollars seems
- 23:23Speaker 3: so cheap, now, doesn't it.
- 23:24Speaker 9: Yes, that's right, best say we compared.
- 23:26Speaker 3: To anything else, literally, anything else a footpath, You are
- 23:30Speaker 3: quite right. How's that? Weather?
- 23:32Speaker 9: Showers possibly heavy autofunger Pioa easing before dawn. It's going
- 23:35Speaker 9: to be cloudy today. Fourteen is high here and.
- 23:37Speaker 3: Aum you take care of yourself neither. It is eighteen
- 23:40Speaker 3: minutes away from six. That pipe by the way, they reckon.
- 23:42Speaker 3: So if you go swimming in Auckland in summer and
- 23:45Speaker 3: you notice that there's like tampons following you around the
- 23:47Speaker 3: ocean or floaters in the water, this will take out
- 23:51Speaker 3: eighty percent of that. That's the estimate. Eighty percent of
- 23:54Speaker 3: what was going and won't go in when it rains
- 23:57Speaker 3: and the wastewater and the storm water come together, and
- 24:00Speaker 3: you know in the central city they've got down at
- 24:02Speaker 3: the Violet, they've got Brownie's Pool. Well, I think we
- 24:05Speaker 3: should call this one Brownie's Pipe. Australia next said.
- 24:08Speaker 1: Big international correspondence with ends and eye insurance, peace of
- 24:13Speaker 1: mind for New Zealand business.
- 24:15Speaker 3: He talks to me as quarter to six, Lammy is out,
- 24:18Speaker 3: Rachel Reeves's out. This is Andy Burnham coming into number
- 24:21Speaker 3: ten Downing Street. He's already announced that Healley, who was
- 24:24Speaker 3: Starmer's Defense secretary who then quit over how much they
- 24:28Speaker 3: were spending on defense. He is now Burnham's chancellor. Considered
- 24:33Speaker 3: a safe pair of hands, been around the traps for
- 24:35Speaker 3: a while. Ed Milliban was one of those touted as
- 24:37Speaker 3: being a chancellor. He's just been announced the Foreign Secretary.
- 24:42Speaker 3: And Muttwood this is the other potential contender they were
- 24:46Speaker 3: talking about to be chancellor. She's just been announced as
- 24:49Speaker 3: the Home Secretary, so basically keeping her job. It is
- 24:52Speaker 3: quarter to six now and we will go to Australia.
- 24:55Speaker 3: Do on a demands with us on a good morning
- 24:57Speaker 3: HI form Defense Force soldier has pleaded guilty to trafficking
- 25:01Speaker 3: cocaine but doesn't go to jail.
- 25:04Speaker 11: Yes, he has been spared jo This twenty four year
- 25:06Speaker 11: old appeared in court yesterday and pleaded guilty to trafficking
- 25:09Speaker 11: cocaine in twenty twenty four. He was a rifleman and
- 25:13Speaker 11: field medic and the court heard that during his service
- 25:15Speaker 11: he did purchase forty five grams of cocaine over six
- 25:18Speaker 11: weeks from a fellow soldier. That fellow soldier pleaded guilty
- 25:22Speaker 11: earlier this year to trafficking large quantities of a cocaine
- 25:25Speaker 11: while serving as an Army infantry soldier. So the Supreme
- 25:29Speaker 11: Court that heard that this soldier had paid in cash
- 25:34Speaker 11: and at times you know, popped the payments into the
- 25:37Speaker 11: army backpack of his fellow soldier. And we heard from
- 25:41Speaker 11: the judge of course, so you offended whilst you had
- 25:43Speaker 11: the honor and the privilege of being a member of
- 25:45Speaker 11: the Australian Defense Force. And questioned this same judge questioned
- 25:50Speaker 11: why this soldier had said he was slowly getting more
- 25:54Speaker 11: blokes onto the staff. He did plead guilty to two
- 25:58Speaker 11: charges but has avoided jail. He got a four year
- 26:00Speaker 11: prison term, but it's going to be suspended for five
- 26:03Speaker 11: years as long as he does not reoffend.
- 26:06Speaker 3: All right, now, let's get to the most important story
- 26:08Speaker 3: of the day that this mums how many babies has
- 26:11Speaker 3: she had?
- 26:13Speaker 11: A Brisbane woman has naturally conceived identical quadruplets and they've
- 26:18Speaker 11: all been born and they're all healthy, they're all daughters.
- 26:21Speaker 11: Congratulations to thirty four year old Jennifer Namuana and her
- 26:25Speaker 11: partner Jorthan. They had these four babies delivered by caesarean
- 26:30Speaker 11: at twenty weeks and four days and look they're still
- 26:33Speaker 11: in the neonatal intensive care in it being cared for.
- 26:35Speaker 11: But it's extraordinary. Doctors are saying that pregnancy was so
- 26:40Speaker 11: high risk. In fact, it was very very high risk.
- 26:43Speaker 11: As they put it, it's incredible that they're healthy and
- 26:46Speaker 11: it's a one in far Wait a minute, negat this
- 26:49Speaker 11: is right, one in fifteen million pregnancy. It's just extraordinary.
- 26:54Speaker 11: They have set up a go fund me for the
- 26:56Speaker 11: family because apparently they really really need a ten to
- 26:59Speaker 11: twelve a van.
- 27:00Speaker 3: Now did they know this that they had quadruplets coming?
- 27:05Speaker 4: Oh?
- 27:05Speaker 11: Yes, they yes, they did, ye they did?
- 27:08Speaker 3: Goodness me, what a story. Hey, good to have you
- 27:10Speaker 3: on this morning don to tomorrow Australia corresponders. So that
- 27:12Speaker 3: one in fifteen million pregnancies are identical, so they're all
- 27:15Speaker 3: going to look the same too. The four babies. It
- 27:17Speaker 3: is twelve minutes away from six.
- 27:20Speaker 1: Ryan.
- 27:20Speaker 3: Now, one thing you will be watching very closely if
- 27:22Speaker 3: you have four newborn babies is inflation. And goodness on
- 27:26Speaker 3: this side of the Tasman we're up again. We're getting
- 27:28Speaker 3: a number out this morning. Most economists have it coming
- 27:30Speaker 3: in at four percent. I think the RBNZ was same
- 27:32Speaker 3: three point nine. Cameron Bagriy, independent economists and founder of
- 27:36Speaker 3: Baggery Economics, with us this morning. Cameron, good morning.
- 27:39Speaker 12: Oh, good morning.
- 27:40Speaker 3: So what what are you expecting.
- 27:44Speaker 12: Here? By number looks off, it's going to be something
- 27:45Speaker 12: around four Look whether it's three point nine to four
- 27:48Speaker 12: point one is pretty immateial I'm the key here is
- 27:51Speaker 12: going to be core inflation. Core inflation sort of SCRIPTU
- 27:53Speaker 12: out food and energy and conflation has been stubbornly sticky
- 27:58Speaker 12: around two point five percent of the Reserve Bank would
- 28:01Speaker 12: like that number a little lower to two percent, which
- 28:03Speaker 12: is the biddle part of the inflation band. Again, one
- 28:06Speaker 12: if we see core inflation pick up in regard to
- 28:08Speaker 12: where interstrates a lot there we go.
- 28:10Speaker 3: Do you think core inflation is going to pick up?
- 28:12Speaker 3: I mean, we've seen the energy costs go up, and
- 28:14Speaker 3: this was this is the full picture of the war, right,
- 28:17Speaker 3: the last one we got only captured about a month
- 28:19Speaker 3: of it.
- 28:21Speaker 12: Yeah, I think core inflation is going to continue to
- 28:24Speaker 12: be simmering around that two and a half percent mark,
- 28:27Speaker 12: and that's going to place the Reserve Bank in an
- 28:29Speaker 12: awkward position. And part of the problem got wrong is
- 28:32Speaker 12: that we sall have gotten pop inflation, but we really
- 28:36Speaker 12: didn't get fully on top of inflation inflation. He had
- 28:39Speaker 12: gone inflation that belows it got back around two point
- 28:42Speaker 12: two percent. Normally, when you go through a recession, you
- 28:45Speaker 12: see inflation dropped well below two percent. It didn't drop
- 28:49Speaker 12: below two percent. Your core inflation was still on the
- 28:52Speaker 12: upper part of the one to three percent inflation band.
- 28:54Speaker 12: So when you see an inflation shot coming through the system,
- 28:57Speaker 12: which is what's coming through the system at the moment,
- 29:00Speaker 12: you're going to be a little bit more on alert.
- 29:02Speaker 12: You're going to be a little bit more cautious. And
- 29:03Speaker 12: of course the Reserve Bank has got interstrates. You have
- 29:06Speaker 12: the official cash right is still what's called the funds
- 29:08Speaker 12: are and the fund zone is sort of when you've
- 29:10Speaker 12: got the official cash right for low three percent, idea
- 29:13Speaker 12: that you have that OCR not in the fund zone
- 29:17Speaker 12: by around three percent, what's we call neutral. As we're
- 29:20Speaker 12: the reserve bank. No, ei've got the foot in accelerator
- 29:21Speaker 12: or the break.
- 29:22Speaker 3: Which is where they'll get by Christmas. Right, Well, that's
- 29:25Speaker 3: what the markets are telling us they'll do. Would today's number,
- 29:28Speaker 3: I mean, how bad would today's number have to be
- 29:30Speaker 3: for them to put the really foot to put the
- 29:31Speaker 3: foot down on it.
- 29:33Speaker 12: Well, we'll really put the foot down. Look like I
- 29:36Speaker 12: think they're going to go respective. I just think if
- 29:39Speaker 12: you're a central bank and you've got inflation that's been
- 29:43Speaker 12: in the apple part of your zone or that out
- 29:45Speaker 12: of your zone for about five years, you want to
- 29:47Speaker 12: get that OICR back to three percent. And what we've
- 29:50Speaker 12: got at the moment is that it's pretty clear that
- 29:52Speaker 12: we've got a cross shop. But an improved economy, and
- 29:55Speaker 12: the economy on the improve is a good thing. When
- 29:58Speaker 12: you've got the economy on the approved the GDP numbers
- 30:02Speaker 12: for the dunk quarter, they're not going to look that great.
- 30:04Speaker 12: But if you look at the economic imitators outside of
- 30:07Speaker 12: the Dune Court, it's very clear that things are picking
- 30:09Speaker 12: up outside of the housing market. So there's no need
- 30:12Speaker 12: to be special care st rate to be around two
- 30:14Speaker 12: point five percent. Okay, if you own a property, you've
- 30:16Speaker 12: like the official care strate to remain pretty low. But yeah,
- 30:19Speaker 12: people need to wake up the reality that we don't
- 30:21Speaker 12: get more wealthy seven more expensive houses to each other,
- 30:24Speaker 12: and so that party is sort of over and there's
- 30:27Speaker 12: there being you know, think they're going to be pretty cautious,
- 30:29Speaker 12: like most simple banks around the globe, because we've just
- 30:31Speaker 12: had inflation too high to too long, and inflation is
- 30:34Speaker 12: just a tax on society.
- 30:37Speaker 3: Cameron Bagri, Independent Economists, founder of Bagri Economics. That number
- 30:40Speaker 3: out this morning. It is nine minutes away from six
- 30:43Speaker 3: Bryant Bridge, so everybody, the cabinet ministers are walking, well
- 30:47Speaker 3: would be cabinet ministers are walking into number ten Downing Street,
- 30:50Speaker 3: being told what jobs they have been given, shaking hands
- 30:53Speaker 3: with Burnham and then walking out. And at the same
- 30:55Speaker 3: time Burnham has been on the phone to Trump. This
- 30:58Speaker 3: is according to the American investador in the UK telling Fox.
- 31:02Speaker 3: So Trump and Burnham have spoken and every time Burnham
- 31:05Speaker 3: speaks well, at least when he was outside number ten,
- 31:09Speaker 3: cost of borrowing for the UK went up. Since then
- 31:12Speaker 3: he's announced Healy as his chancellor. It's eight to six
- 31:15Speaker 3: y're on newstalk sad B.
- 31:17Speaker 1: The first word on the News of the Day early
- 31:20Speaker 1: edition with Ryan Bridge and Spark for Business Technology that
- 31:25Speaker 1: keeps Business Moving News Talks d B.
- 31:27Speaker 3: He talks about six minutes away from six. So al
- 31:29Speaker 3: Mayo who was mates with Al Chapo. This is the
- 31:32Speaker 3: Mexican drug lord. He was a Sinela cartel in Mexico.
- 31:36Speaker 3: He has just been done a lifetime sentence. He actually
- 31:39Speaker 3: admitted to it that he did a deal with prosecutors
- 31:42Speaker 3: last year for shipping cocaine and other substances, etc. And
- 31:46Speaker 3: he also forfeited twenty five billion dollars in profits. I mean,
- 31:51Speaker 3: this is why you would Is this an ad against
- 31:54Speaker 3: four or against being a Mexican drug kingpin? You know, yes,
- 31:59Speaker 3: you're going to isn't for the rest of your life.
- 32:01Speaker 3: But he gave up twenty five billion dollars in profits
- 32:03Speaker 3: as part of his punishment at the age of seventy six.
- 32:07Speaker 3: At six two Bread Rich Morning make morning. Is this
- 32:11Speaker 3: corporate welfare for a Golden based It's a.
- 32:15Speaker 13: Very very good question, and I don't have the answer
- 32:18Speaker 13: because I don't. No one knows what the detail of
- 32:21Speaker 13: it was, because you've got to have the writers of
- 32:24Speaker 13: business to go, this isn't working for us, so we
- 32:26Speaker 13: can close it down.
- 32:27Speaker 3: Which is what they said was going to happen. Well,
- 32:29Speaker 3: that's what.
- 32:29Speaker 13: They say, but Fletcher Building's got form. Yeah, so then
- 32:33Speaker 13: you go is that true? And if it isn't true,
- 32:35Speaker 13: you then go back to the original, which is there's
- 32:37Speaker 13: only one cement producer in this country. So therefore, from
- 32:40Speaker 13: a governmental point of view, having just cleaned out a
- 32:42Speaker 13: tank in Marsden Point, you're into a little bit of
- 32:45Speaker 13: you know, reliability and resilience, aren't you.
- 32:48Speaker 3: But then you know, where is the where did you stop?
- 32:50Speaker 12: Do you?
- 32:50Speaker 3: Food? Couldn't agree more? Couldn't agree more?
- 32:53Speaker 13: But then exactly what you said a precedent. What hasn't
- 32:57Speaker 13: been explained is this this this fron mental thing that
- 33:00Speaker 13: we're bringing on about yesterday, the ets and how that
- 33:04Speaker 13: sort of suddenly cement becomes a problem and the rest
- 33:07Speaker 13: of it we bring into the country isn't a problem
- 33:09Speaker 13: et cetera.
- 33:09Speaker 3: If somebody is importing imported cement doesn't have the ETS
- 33:13Speaker 3: cost slapped on it, so therefore barrow to disadvance.
- 33:15Speaker 13: So so once again you can then go back to
- 33:17Speaker 13: the Fletcher question.
- 33:18Speaker 3: Is that is that the stalking horse, that's not the
- 33:23Speaker 3: root cause. The ETS cost is the root cause of.
- 33:27Speaker 13: Is your business really going under? Or if you found
- 33:30Speaker 13: just an ETS excuse to go to the government and
- 33:32Speaker 13: go and tell you what. That's too big a hassle
- 33:34Speaker 13: for us, and then so give us sixty million bucks.
- 33:36Speaker 3: And here's the problem. And Paul's texting in about this
- 33:38Speaker 3: this morning as a taxpayer coming into an election. Any
- 33:41Speaker 3: business that has an ETS cost now and it's facing
- 33:45Speaker 3: plant closure, hand up please.
- 33:47Speaker 13: It's the most interesting story of the week by quite
- 33:50Speaker 13: a large I could and everyone seems to have missed it.
- 33:53Speaker 13: But anyway, we will be dealing with it Ryan this morning,
- 33:56Speaker 13: big time, don't you worry. Also, by the way, Ryan
- 33:59Speaker 13: Fox is literally just landing in Florida, back home where
- 34:02Speaker 13: he lives, and so he's going to jump on the phone.
- 34:04Speaker 13: So we missed him yesterday. So I'm going to get
- 34:06Speaker 13: the full glory in the detail from them later on.
- 34:09Speaker 3: Good Stuff. The Mike hosting Breakfast Next on News Talk
- 34:12Speaker 3: said B see you tomorrow.
- 34:17Speaker 5: Up God.
- 34:22Speaker 1: For more from Early Edition with Ryan Bridge, Listen live
- 34:25Speaker 1: to News Talk Set B from five am weekdays, or
- 34:28Speaker 1: follow the podcast on iHeartRadio