The Reserve Bank has cut the OCR by 50 basis points to 2.5 percent, despite acknowledging inflation is still above where they'd like it.

Finance Minister Nicola Willis says they've factored in broader economic conditions.

She says the central bank clearly thinks any fluctuation in inflation will be constrained by spare capacity in the economy.

Newstalk ZB senior political correspondent Barry Soper says this will come as good news as more people are set to roll into lower mortgage rates.

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The Reserve Bank has cut the OCR by 50 basis points to 2.5 percent, despite acknowledging inflation is still above where they'd like it.
Finance Minister Nicola Willis says they've factored in broader economic conditions.
She says the central bank clearly thinks any fluctuation in inflation will be constrained by spare capacity in the economy.
Newstalk ZB senior political correspondent Barry Soper says this will come as good news as more people are set to roll into lower mortgage rates.
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Barry Soper: Newstalk ZB senior political correspondent on what the latest OCR cut means for the economy

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/fe68fa66-8e4d-423d-9d50-b37000518356/transcript

I think we can quite accurately use the word 'brilliant' to describe the latest move from the Government’s man in the primary teachers’ pay negotiations.

Brian Roche, the Public Service Commissioner, has gone around the union and offered a 4.7 percent pay increase to primary teachers who are not in the union. If they agree to it, the first chunk of the pay rise will kick in 19 days from now and the next chunk will take effect in January next year.

This is clever because it undermines the union - which still hasn’t settled, has it?

For the past nine months, they’ve refused to finalise their pay agreement until the Treaty is recognised in teachers’ contracts and until the Government pays teachers more for their overnight camp allowance, for God’s sake.

Based on the text traffic we get to this show, there must be huge numbers of teachers growing increasingly frustrated with their union for getting hung up on ideology over pay, while they lose up to $76 a week in income they’re not receiving because negotiations are still dragging on.

So the pressure is now on the NZEI big time. Feasibly, union members can now do what 10,000 of their colleagues have already done: either avoid joining the union or leave it altogether and get their pay rise faster without the union than with it.

Personally, I love that this is happening. It became obvious to me 20 years ago, as a junior reporter at TVNZ, that unions weren’t much use to me even then. And what’s happened since is much worse because unions are now actively holding up pay negotiations for really stupid reasons.

So - brilliant move from the Public Service Commissioner. I can’t wait to see whether this forces the union to finally wrap up the pay talks to save themselves from an exodus of clever teachers.

LISTEN ABOVE

I think we can quite accurately use the word 'brilliant' to describe the latest move from the Government’s man in the primary teachers’ pay negotiations.
Brian Roche, the Public Service Commissioner, has gone around the union and offered a 4.7 percent pay increase to primary teachers who are not in the union. If they agree to it, the first chunk of the pay rise will kick in 19 days from now and the next chunk will take effect in January next year.
This is clever because it undermines the union - which still hasn’t settled, has it?
For the past nine months, they’ve refused to finalise their pay agreement until the Treaty is recognised in teachers’ contracts and until the Government pays teachers more for their overnight camp allowance, for God’s sake.
Based on the text traffic we get to this show, there must be huge numbers of teachers growing increasingly frustrated with their union for getting hung up on ideology over pay, while they lose up to $76 a week in income they’re not receiving because negotiations are still dragging on.
So the pressure is now on the NZEI big time. Feasibly, union members can now do what 10,000 of their colleagues have already done: either avoid joining the union or leave it altogether and get their pay rise faster without the union than with it.
Personally, I love that this is happening. It became obvious to me 20 years ago, as a junior reporter at TVNZ, that unions weren’t much use to me even then. And what’s happened since is much worse because unions are now actively holding up pay negotiations for really stupid reasons.
So - brilliant move from the Public Service Commissioner. I can’t wait to see whether this forces the union to finally wrap up the pay talks to save themselves from an exodus of clever teachers.
LISTEN ABOVE

Perspective with Heather du Plessis-Allan: The pressure's on for the primary teachers' union

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/79b2f6ed-057a-4e00-b363-b40a006375d9/transcript

The balance sheet is looking strong for Briscoe Group, which managed to score a few goals late in the game. 

The retailer's posted record annual sales of close to $800 million, for the year ending January 25th. 

Its homeware brand Briscoes saw 1.42 percent sales growth - while Rebel Sport trailed with growth of 0.13 percent.

Managing director Rod Duke says the business just changed its promotions approach slightly. 

"Generally, the market from about Black Friday just eased up a bit. People just got a bit more confident."

LISTEN ABOVE

The balance sheet is looking strong for Briscoe Group, which managed to score a few goals late in the game.&nbsp;
The retailer's posted record annual sales of close to $800 million, for the year ending January 25th.&nbsp;
Its homeware brand Briscoes saw 1.42 percent sales growth - while Rebel Sport trailed with growth of 0.13 percent.
Managing director Rod Duke says the business just changed its promotions approach slightly.&nbsp;
"Generally, the market from about Black Friday just eased up a bit. People just got a bit more confident."
LISTEN ABOVE

Rod Duke: Briscoe Group managing director on the business posting steady result in tough financial year

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/b76d06e7-e380-47e4-b65c-b40a00617d9a/transcript

Federated Farmers thinks it's unlikely the live export ban will be reinstated, now the Government's backtracked.

A campaign promise for National and ACT vowed to return the $370-million-dollar trade with improved animal welfare. 

The Labour Government banned it in 2023. 

Animal Welfare Minister Andrew Hoggard says there were more pressing matters this term.

Federated Farmers Dairy Chair Karl Dean says it's going to be very hard to overturn it now. 

"There was a big industry behind it, that's very much now diminished. The international players, they've gone elsewhere."

LISTEN ABOVE

Federated Farmers thinks it's unlikely the live export ban will be reinstated, now the Government's backtracked.
A campaign promise for National and ACT vowed to return the $370-million-dollar trade with improved animal welfare.&nbsp;
The Labour Government banned it in 2023.&nbsp;
Animal Welfare Minister Andrew Hoggard says there were more pressing matters this term.
Federated Farmers Dairy Chair Karl Dean says it's going to be very hard to overturn it now.&nbsp;
"There was a big industry behind it, that's very much now diminished. The international players, they've gone elsewhere."
LISTEN ABOVE

Karl Dean: Federated Farmers Dairy Chair voices disappointment with Government backdown on live export ban

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/5dc83446-d2d1-4f13-8685-b40a005fbfcd/transcript

Barry Soper: Newstalk ZB senior political correspondent on what the latest OCR cut means for the economy

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