Larry Williams Drive

The Reserve Bank is set to make their next OCR announcement in a month, and predictions say it'll make a 75 basis point hike. This will take the OCR to 5 percent, but economists are wondering if that will be the ceiling for rate hikes.  HSBC Chief Economist Paul Bloxham speculates that this upcoming rate hike may be the last one we're faced with for a while because the economy is already starting to slow down. "The economy's already weakening, the housing market's already weakening substantially, we've got very clear weakness in business confidence and consumer confidence. We think the next cab off the rank is for the labour market to show clearer signs of weakening as well."  LISTEN ABOVESee omnystudio.com/listener for privacy information.

Incoming Prime Minister Chris Hipkins has made the business sector and the economy the focus of his Government. His first address promised to handle the inflation 'pandemic', and he plans on meeting with Auckland business leaders on Thursday after he's been sworn in. EMA Chief Executive Brett O'Riley says Chris Hipkins need to understand the cost impacts of Government policies at a time where margins are tightening. "It would be great to see them really recognise that Government policy has a huge impact on business at a time where margins are tight and it's difficult to find people. Immigration, of course is the elephant in the room for most business owners." LISTEN ABOVE  See omnystudio.com/listener for privacy information.

Today on the Huddle: David Farrar, Kiwiblog writer and Curia pollster and Kaine Thompson, former Labour Press Secretary joined in on a discussion about the following issues of the day- and more! Were Chris Luxon's comments on co-governance at Rātana appropriate? Is today the right time for National to be transparent about their stance on co-governance? Do you think farmers will listen to Fonterra's instructions to not kill bobby calves unless there's a humane reason? What will happen to the bobby calves, and is it really humane to raise them for veal? Rocket Lab's Peter Beck says the best thing for Kiwi entrepreneurs is to leave the country for a while first. Is he right to blame 'tall poppy syndrome', and can we trust these startups to return? Is calling incoming Prime Minister Chris Hipkins 'Chippy' the same as calling Jacinda Ardern 'Cindy'? LISTEN ABOVESee omnystudio.com/listener for privacy information.

Rocket Lab founder Peter Beck says the best thing local startups can do is get out of New Zealand- for a while. According to Beck, it's important for Kiwi entrepreneurs to get global context and that the nation's infamous 'tall poppy syndrome' problem can hold founders back when it comes to success.   Peter Beck says it's important for entrepreneurs to see if their idea is world-class by taking it out on the world stage and gaining perspective. "What you need to understand before you pour your life into a business is that what you actually end up with in the end is something that people want. And also something that hasn't been tried before and proven to be unsuccessful." LISTEN ABOVESee omnystudio.com/listener for privacy information.

A concerned group of residents in Auckland's Beach Haven district have come together to voice their issues surrounding plans to build apartments in the area. The group, 'We Oppose The Cresta Ave Beach Haven Development' have met to discuss stopping this development, as they're concerned about "bedroom commuters" setting up in the region. Leader and spokesperson Crispin Robertson says the Beach Haven community won't suit apartment living and the waste pipes aren't the right size to support the scale of the development. "It's not big enough for the current state of affairs. There's upgrades planned in the future, but I think everyone in the community is feeling like it's the cart before the horse." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Brac and Bow duty manager Debbie Sinclair was in for a surprise when UK-based superstar Ed Sheeran paid a visit to the pub. The Featherston local and pub duty manager was on duty and told a customer that he resembled the singer before checking his ID and noticing the customer wasn't a doppelganger at all. According to Sinclair, it took seeing the ID a couple of times and her boss pointing it out before she realised this customer who resembled Ed Sheeran turned out to be the singer. LISTEN ABOVE  See omnystudio.com/listener for privacy information.

Data from the Westpac McDermott Miller Regional Survey confirms that economic confidence is at a new low. Auckland is the least confident overall, but most regions around the country aren't feeling optimistic about what 2023 has in store. Westpac senior economist Nathan Penny says that inflation has driven up living costs and interest rates and that 2023 is set to fix the over-heated economy, but it won't be pain-free. LISTEN ABOVE See omnystudio.com/listener for privacy information.

National leader Chris Luxon used his appearance at Rātana to reaffirm his party's stance against co-governance. During his speech, Luxon said the co-governance debate has been an increasing poor discussion and he blamed the current Government for not being "upfront or transparent" on the subject. Chris Luxon says that today's Rātana event was an appropriate opportunity to talk about the co-governance debate. "Frankly it's been an issue that's been in conversation now for a year, I tried to talk about it last April along similar lines. And with the new Prime Minister, as he said, he's looking at it and he's potentially looking at Three Waters and other things. I thought it was entirely appropriate to come out and say where things were." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Jacinda Ardern delivered her final address as Prime Minister at Rātana earlier today. Ardern said that it was symbolic on her part to speak at Rātana on her last day as Prime Minister, as her 2018 appearance at Rātana was her first public appearance following her pregnancy announcement. Barry Soper, ZB's senior political correspondent says there was mass support from the rest of the Labour party following Jacinda Ardern's last day as Prime Minister. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Australian PM has touched down in Alice Springs amid a wave of crime and violence in the area. Alice Springs has reported an uptick in assaults and home invasions, with the crime wave being fuelled by long-term alcohol sale bans expiring and not being renewed over the last six months. Australian correspondent Murray Olds says that alcohol-related assaults have gone up by 53 percent in Alice Springs and gangs of youths are breaking into more outlets and stores. LISTEN ABOVE    See omnystudio.com/listener for privacy information.

The Black Caps have had an unimpressive start in the ODI series, having lost to India on Saturday. The final score was 108 in 3.43 overs to 11-2 in 20.1 overs to India and New Zealand were at 15- 5 towards the first half, a historically low start for the Black Caps. Sportstalk host D'Arcy Waldegrave says tonight's match may give them a chance to turn things around. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Fonterra has ordered dairy farmers to stop killing bobby calves unless they have a humane reason to do so. From June 2023, all non-replacement bobby calves are required to be raised for beef, veal, or pet food supply in order to adhere to consumer guarantee standards surrounding the treatment of calves. Farming expert Dr Jacqueline Rowarth says that Fonterra has ordered this in order to ensure that farmers find value for all the livestock they produce. Dr Jacqueline Rowarth says that Fonterra knows calves have no value if they're euthanized and raising them for product will impact production costs. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Prince Andrew plans to launch a legal case against accuser Virginia Guiffree in order to overturn the previous settlement. After receiving an inheritance from Queen Elizabeth II's passing, Prince Andrew consulted lawyers in order to get Guiffree's allegations of sexual abuse retracted. UK correspondent Kay Oliver says that the lawyers Prince Andrew consulted have advised him to forget the whole thing and be relieved that he's not facing prison time following the allegations. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Federated Farmers are requesting a Government inquiry into the flooding and destroyed infrastructure left by Cyclone Hale. They claim that farmers located in the Gisbourne area are dealing with extra damage from slash and residual materials from forestry harvesting after Cyclone Hale hit earlier in the month. Federated Farmers national board member Toby Williams says the slash from harvesting is being washed onto farmland in heavy rain events, and they need Government action to prevent it from happening. Toby Williams suggests some policy changes need to be implemented into harvesting practices so the leftover branches and debris are chipped instead of being left to wash down into farmland. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Mānuka Honey Appellation Society have withdrawn legal action in the UK to trademark the word mānuka, but have promised the campaign isn't over. Australian honey producers have been using the mānuka banner to sell their honey and claimed victory over the withdrawn appeal.  Mānuka Honey Appellation Society CEO John Rawcliffe says that the Australian honey producers have jumped the gun by celebrating, and that they aim to continue the campaign to protect the term. "It was a strategical move. We had advice it was best to withdraw and through the Mānuka Charitable Trust, reapply. It's as simple as that. It's the best advice we've got from our legal advisers." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Incoming Prime Minister Chris Hipkins has promised to re-prioritise the focus of Labour to reflect the current concerns of New Zealand voters. Hipkins has stated he plans to rein in some Government programs that are less "essential" right now and address the issues surrounding the economy, business owners, and the cost of living. NZME business commentator Fran O'Sullivan says that it will be hard for Chris Hipkins to draw in voters, but his open communication and clear acknowledgement of the state of the economy is an encouraging start. "He's communicating, and that's what people have wanted for a very long time. And I think that actually positions quite a bit of challenge to Chris Luxon, who will say stuff and walk it back. And if Chris Hipkins can cut through, I think he's in the game."  LISTEN ABOVESee omnystudio.com/listener for privacy information.

Today on The Huddle, Trish Sherson from Sherson Willis PR and Neale Jones from PR firm Capital joined in on a discussion on the following issues of the day: Do you think incoming Prime Minister Chris Hipkins will help Labour win the next election or is it already too late? Will a change in leadership help Labour turn their image around and win voters over?  Does Chris Hipkins need to outright scrap Three Waters to prove that his Government is different to Ardern's Government? How else could he express to voters that his Government represents real change for Labour? Who read Spare over summer? What do we think of this? LISTEN ABOVESee omnystudio.com/listener for privacy information.

ASB has cut some of their mortgage rates, with their five year home loan rate dropping to 6.49 percent. This puts it lower than their one year home loan rate, which is currently at 6.84 percent. ASB economist Mark Smith says the key factor driving down their long-term interest rates is the expectation that inflation will stay high until 2025 and short term interest rates will need to be up for longer. Mark Smith also says rents are expected to go up due to rising living costs across the board. LISTEN ABOVE  See omnystudio.com/listener for privacy information.

The cost of living crisis is stopping some families connecting with each other. The Council of Trade Union’s latest Mood of the Workforce Survey has found three out of four people's incomes can't match inflation, with most respondents citing grocery prices as their biggest problem. Mortgages, rent and transport aren't far behind. CTU Secretary Melissa Ansell-Bridges says some people say they don't have enough in the budget to visit loved ones. "A lot of people are doing multiple jobs, they're worried about security of hours, they're worried about the satisfaction they're getting in their work as well and access to skills and training. But they're really worried about making ends meet." LISTEN ABOVE  See omnystudio.com/listener for privacy information.

Time passes and priorities change. That's from our incoming Prime Minister as he heads into a week of decision on which what issues should be high on the Government's fix-it list. Chris Hipkins says global factors are driving up our cost of living, and although our inflation rate is high, it's one of the best in the world. He rejects the suggestion Jacinda Ardern's Government dropped the ball and was distracted. LISTEN ABOVESee omnystudio.com/listener for privacy information.