The Minister in charge says ACC needs to lift its game.  

The government agency has reported a $7.2 billion deficit, just a year after posting an almost $1 billion surplus.  

It says the cost of services and compensation rose 16% over the year.  

It's proposing to hike levies for vehicle owners, workers, and business owners.  

Minister Matt Doocey told Ryan Bridge he doesn't expect levies to be used as default.   

He says they have to focus on their rehabilitation rates, which have been lower than expected. 

LISTEN ABOVE 

The Minister in charge says ACC needs to lift its game. &nbsp;
The government agency has reported a $7.2 billion deficit, just a year after posting an almost $1 billion surplus. &nbsp;
It says the cost of services and compensation rose 16% over the year. &nbsp;
It's proposing to hike levies for vehicle owners, workers, and business owners. &nbsp;
Minister Matt Doocey told Ryan Bridge he doesn't expect levies to be used as default. &nbsp;&nbsp;
He says they have to focus on their rehabilitation rates, which have been lower than expected.&nbsp;
LISTEN ABOVE&nbsp;

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

Early Edition with Ryan Bridge

Matt Doocey: ACC Minister on the agency's $7.2 billion deficit

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/07e770b8-b3c6-429d-9a72-b20b01335d6e/transcript

Team New Zealand’s America’s Cup lead has been halved. 

Ineos Britannia claimed the wins for races five and six, leaving the score at 4-2. 

ZB Sport Journalist Adam Cooper told Ryan Bridge that it’s more exciting than it is concerning for Team NZ. 

He said that the wins were the result of two mistakes from the Kiwis, and although people are fearful of a shock loss, at the most part everyone is still confident. 

LISTEN ABOVE 

Team New Zealand’s America’s Cup lead has been halved.&nbsp;
Ineos Britannia claimed the wins for races five and six, leaving the score at 4-2.&nbsp;
ZB Sport Journalist Adam Cooper told Ryan Bridge that it’s more exciting than it is concerning for Team NZ.&nbsp;
He said that the wins were the result of two mistakes from the Kiwis, and although people are fearful of a shock loss, at the most part everyone is still confident.&nbsp;
LISTEN ABOVE&nbsp;

Adam Cooper: ZB Sports Journalist on Ineos Britannia winning races 5 and 6 in the America's Cup

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/ac2bfca9-4cdb-46a9-833d-b20b015ea7fb/transcript

Inflation is expected to keep easing in the months to come. 

Overall inflation is back within the target range at 2.2% due to falling prices for imports like petrol and diesel. 

Domestically-driven non-tradeable inflation remains much higher at 4.9%, due to a sharp rise in rents, council rates and insurance premiums. 

ASB Chief Economist Nick Tuffley told Ryan Bridge that inflation is expected to remain close to 2% over the next few years, with a chance of it edging below towards the end of 2025/26. 

He says it would take something quite drastic to push it back up.  

LISTEN ABOVE 

Inflation is expected to keep easing in the months to come.&nbsp;
Overall inflation is back within the target range at 2.2% due to falling prices for imports like petrol and diesel.&nbsp;
Domestically-driven non-tradeable inflation remains much higher at 4.9%, due to a sharp rise in rents, council rates and insurance premiums.&nbsp;
ASB Chief Economist Nick Tuffley told Ryan Bridge that inflation is expected to remain close to 2% over the next few years, with a chance of it edging below towards the end of 2025/26.&nbsp;
He says it would take something quite drastic to push it back up. &nbsp;
LISTEN ABOVE&nbsp;

Nick Tuffley: ASB Chief Economist on the inflation rate coming into target range at 2.2%

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/a4bcb394-cf72-4dde-a7d4-b20b01523267/transcript

A timely reminder, an important one too, for me last night. I'm in Wellington, flew into the schmozzle storm yesterday for an event. 

It's easily one of the most beautiful cities in New Zealand, is it not? Can we all agree on that? With the hills jutting out of the harbour, all of the bush surrounding it. 

It is stunning and the weather was good, so that helped. 

It was absolutely beautiful flying in, and then you land and there's the road cones, and there's the Uber driver not happy, and the mayor's in meltdown, and the government's taking over, and the council is all over the place. 

Shambles, schmozzle, all that stuff. 

But then this event last night featured and honoured a couple of Wellington business people. 

Among them was Brian McGuinness, whose family have either built or refurbished basically half of Wellington – including Government House, which I found fascinating. 

Doug Hauraki was a name you will know, he was on there as well. Great Wellingtonian. 

Many were honoured there, but the speeches particularly got me last night, got me right in the guts. 

These are guys who have seen it all – Wellington at its best, Wellington at its absolute worst. When it's the crown, the jewel, when it's the butt of our jokes. 

And their message essentially was politics is temporary. Like any city, the real pulse, the Real Engine Room is private enterprise. Always has been, always will be. 

And there was a tech guru, John Daniel Trask, who spoke last night, he said we shouldn't always look to the Council, to the Government, to fix our problems or to make things better because for the most part, we can actually do it on our own, we can solve problems on our own. 

Sure, there are some issues that only government and council can look after that only government and council have a purview over, but for most things, we can actually do it ourselves.  

And so that is true of Wellington, Wellington is no exception. 

Wellington will come back, and probably doesn't help that people like me sit in front of microphones in Auckland and bleat about the place. But you know, it's fun from a distance, quite different up close. 

A timely reminder, an important one too, for me last night. I'm in Wellington, flew into the schmozzle storm yesterday for an event.&nbsp;
It's easily one of the most beautiful cities in New Zealand, is it not? Can we all agree on that? With the hills jutting out of the harbour, all of the bush surrounding it.&nbsp;
It is stunning and the weather was good, so that helped.&nbsp;
It was absolutely beautiful flying in, and then you land and there's the road cones, and there's the Uber driver not happy, and the mayor's in meltdown, and the government's taking over, and the council is all over the place.&nbsp;
Shambles, schmozzle, all that stuff.&nbsp;
But then this event last night featured and honoured a couple of Wellington business people.&nbsp;
Among them was Brian McGuinness, whose family have either built or refurbished basically half of Wellington – including Government House, which I found fascinating.&nbsp;
Doug Hauraki was a name you will know, he was on there as well. Great Wellingtonian.&nbsp;
Many were honoured there, but the speeches particularly got me last night, got me right in the guts.&nbsp;
These are guys who have seen it all – Wellington at its best, Wellington at its absolute worst. When it's the crown, the jewel, when it's the butt of our jokes.&nbsp;
And their message essentially was politics is temporary. Like any city, the real pulse, the Real Engine Room is private enterprise. Always has been, always will be.&nbsp;
And there was a tech guru, John Daniel Trask, who spoke last night, he said we shouldn't always look to the Council, to the Government, to fix our problems or to make things better because for the most part, we can actually do it on our own, we can solve problems on our own.&nbsp;
Sure, there are some issues that only government and council can look after that only government and council have a purview over, but for most things, we can actually do it ourselves. &nbsp;
And so that is true of Wellington, Wellington is no exception.&nbsp;
Wellington will come back, and probably doesn't help that people like me sit in front of microphones in Auckland and bleat about the place. But you know, it's fun from a distance, quite different up close.&nbsp;

Ryan Bridge: Wellington will come back from this

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/25dfdaaf-98a3-430d-9e3e-b20b013b3d75/transcript

Matt Doocey: ACC Minister on the agency's $7.2 billion deficit

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