Podcasts about finance ministers

Argentina's history is one of recurring promises and painful resets. Nicolas Dujovne has lived that cycle from the inside, serving as Finance Minister during a rare attempt at fiscal repair before markets and politics turned against it. Now, as CIO of Tenac Asset Management, he reflects with Alan Dunne on why economic reform so often falters, how short-term pain fuels long-term instability, and what it would take to finally break the trap. Beyond Argentina, the discussion widens to emerging markets at large - their hard-won stability, the new risks born of geopolitics and demographics, and the shifting fault lines of globalization.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT's TRUE ? – most CIO's read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to info@toptradersunplugged.comAnd please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Alan on Twitter.Read more about Nicolas.Episode TimeStamps: 02:24 - Introduction to Nicolas Dujovne05:32 - Key reflections from Dujovne's former role as ministry of Treasury in Argentina11:43 - How dollarization could change the overall dynamic of the economy14:52 - How Dujovne's role as minister has shaped his investment process16:56 - The state and outlook of emerging markets21:13 - The relationship between central banks and emerging markets23:33 - How the current globalization impact the investing landscape27:43 - Evaluating the U.S from the lens of an emerging market investor33:25 - How markets respond to fiscal...

Well, a great deal of expectation and excitement. We all gathered around the wireless to listen to the 8am announcement about reform of our electricity and power sector and, wow, a lot of hullabaloo and hype over a meh kind of announcement. This government has announced there is money to invest in critical energy infrastructure. Woot. Good to know. We used to criticise the previous government for its announcement of announcements, but by crikey, Nicola Willis has picked up that ball and she's run with it. There was a lot of talk in the press release and at the press conference – reliable and affordable energy is key to New Zealand's prosperity. Well, yeah. Energy powers every part of our economy. We know. But what's happening right now is a gas shortage that is driving New Zealand manufacturers out of business. What's happening right now is that people are really struggling to pay power bills that go up year on year. And what have the Finance Minister and the Energy Minister told us? That they wish to correct the perception that the Government won't invest in the electricity sector. Cool. I thought exactly what Mike said this morning when he was talking to Simon Watts: why didn't you just ring the bosses at Genesis, Mercury, and Meridian and tell them the chequebook was open? Not hold a massive press conference to tell us really very little. There was also an announcement that there's going to be a procurement process started for an LNG import facility, which may or may not be around in two years. Again, announcement of an announcement. The only thing that really stands out for me looking at it is developing new rules to ensure the lack of dry year backup supply, which has a massive ongoing effect on the economy, doesn't happen again. But again, no detail on how that will happen or what energy source will be used as backup. Simon Watts was talking up the government's package on the Mike Hosking Breakfast this morning. “We've got a pretty significant renewable pipeline. I don't doubt that. But am I seeing that flow through in terms of the price of energy? No. And that is what is hitting hard Kiwi households and Kiwi businesses. That's the issue that we need to deal with and this package of announcements and actions, taken as one, is some of the most significant bundle of energy market package announcements that we've seen in a long time. It's going to need to be seen as one package, not as individual parts, but together, we are confident that it'll make a significant impact.” Really, Simon, is it so significant? If you're a manufacturer wondering how on earth you're going to stay in business given the lack of gas and the soaring cost of energy, what will this announcement do for you? If you're trying to juggle the family's household budget and looking at a power bill of $500 bucks, are you going to feel particularly grateful that Nicola Willis and Simon Watts have announced what? According to Meridian, and we'll be talking to Meridian CEO a little later, it's bold. ‘We acknowledge the government's commitment to help the country move forward. It will add greater momentum to our development pipeline and building new generation'. But we know that with the fast tracking of resource consent. This government really does need to stop being so underwhelming in terms of how they report to voters. They get excited about the dry policy wonk stuff and your average voter, not so much. I like a lot of what they're doing. I really do. And if you think about it, you probably do too. I like the health targets. I like the focus of the new curriculum in the schools. I like the improvement in school attendance. I like the banning of gang patches, the fast tracking of projects, Chris Bishop's plan for improving housing supply. Compare that to the pie in the sky of 100,000 Kiwi Build homes. I like the refocusing of Kāinga Ora on its core job of providing homes for people who need them. There is a lot that I like. But the thing is they score own goals with press conferences like this, with all the bells and whistles, that don't actually deliver anything of substance for the people who cast their votes. The problem with the last government is they were all jazz hands and no substance, no delivery. I never thought I'd say this, but the problem with this lot is that they need a bit more stardust. They're solid, they're working hard. They have hard data on what is working policy-wise and what is not. But people just aren't feeling it. There aren't enough good vibes. We need more cowbell, baby, and we need it soon. See omnystudio.com/listener for privacy information.

The tiny island of Bermuda in the North Atlantic is home to some of the largest insurance and reinsurance companies in the world. They pay for much of the Bermudan economy which has the fourth highest GDP per capita in the world on paper. Very large companies based in Bermuda had paid a cool 0% corporation tax until January this year when the new 15% rate was introduced in line with the OECD reforms. Ordinary companies still pay zero Corporation tax.David Burt is the Premier and Finance Minister of Bermuda and is visiting Ireland and attending the European Insurance forum.

Over the weekend, the Government confirmed it wouldn't recognise Palestinian statehood - for the time being. Winston Peters made the announcement at the UN General Assembly, saying conditions weren't yet right. Finance Minister Nicola Willis has defended this move - and says no matter what happened, one side would have taken issue with their choice. "We, as a Cabinet, decided to do what we believed was an independent, New Zealand-based decision - based very much on the facts in front of us what we thought was the best thing." LISTEN ABOVESee omnystudio.com/listener for privacy information.

A former Finance Minister's discussing the Superannuation age in the wake of an alarming Treasury report. Treasury's long term fiscal statement notes the importance of responding to challenges with an ageing population. It suggests the cost of NZ Super could be kept stable by steadily increasing the age of eligibility, requiring it to rise to 72, by 2065. Steven Joyce told Kerre Woodham Superannuation policy gets more urgent every time it's left alone. He believes the age should be getting gradually older as we live longer, and says he had a plan to lift it with 20 years notice before doing so. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Prime Minister and Finance Minister are brushing off the bruising verdict of business leaders as sentiment sours on their performance. The Herald's annual Mood of the Boardroom survey has canvassed the views of 150 executives and chairs as the government battles to turn around the flagging economy. And despite holding the most pivotal Cabinet positions, neither Christopher Luxon, nor Nicola Willis, are ranked in the top 10. Acting political editor Craig McCulloch spoke to Lisa Owen.

David Seymour believes a refresh of Pharmac's operations is benefiting New Zealanders. Its latest funding proposal includes five new medicines for breast cancer, multiple sclerosis, eye conditions, and lung cancer. The Associate Health Minister says a board and leadership change has worked well, and the next step is ensuring strong budget bids. Seymour told Mike Hosking that instead of Pharmac working within a set allocation, it will now go to the Finance Minister each year for funding. When it comes to recognising Palestine, David Seymour appears to be backing a more cautious approach to the thorny question. Foreign Minister Winston Peters is set to announce our decision at the UN General Assembly in New York on Saturday. Doing so would mean our country joins the likes of Australia, the UK, and France. Seymour told Hosking he has his own opinion on the matter but will support any Government position. He suggests some countries are jumping up and down for political theatre, but New Zealand will consider all the facts. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Three hundred potential candidates were identified in the hunt for our new Reserve Bank Governor. The role has gone to Anna Breman, who was the First Deputy Governor of Sweden's central bank. Finance Minister Nicola Willis says it was a a tough competition amongst candidates. "The Reserve Bank went through a process of both advertising and also doing a large international search to consider people that could be qualified for the role." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Three hundred potential candidates were identified in the hunt for our new Reserve Bank Governor. The role has gone to Anna Breman, who was the First Deputy Governor of Sweden's central bank. Finance Minister Nicola Willis says it was a a tough competition amongst candidates. "The Reserve Bank went through a process of both advertising and also doing a large international search to consider people that could be qualified for the role." LISTEN ABOVESee omnystudio.com/listener for privacy information.

You know how the Prime Minister does a very good job of batting away poll results and saying that his focus is fixing up the joint after the last lot and that he'll wait until election day to be judged? I don't think he will find it quite as easy to do that with these results out today from the NZ Herald's annual Mood of the Boardroom survey. The annual survey of about 150 business leaders – 125 of them being CEOs of major New Zealand companies. People like Port of Auckland boss Roger Gray, the head of Tower Insurance Paul Johnston and Forsyth Barr boss Neil Paviour-Smith. One of the things that comes out in the survey results is a ranking of the performances of our Cabinet ministers. How these business leaders think of each minister is doing. Top of the list is Erica Stanford – she's the highest ranking. Winston Peters is in second place and Chris Bishop is third. The Prime Minister is ranked 15th. In last year's survey, he was sixth. Even Building and Construction Minister Chris Penk, who sits outside cabinet, ranks higher than the PM in 10th place. The other big name outside the top 10 is Finance and Economic Growth Minister Nicola Willis – the bosses at our biggest companies have ranked her in 13th place. Which is not good news for the Government. Because what's coming through loud and clear is that the business community has no faith that there is a plan to get the country “back on track”. We're way more than halfway through the Government's current term and our most senior business leaders are asking: “What is your plan Prime Minister?" I think this result out today is way worse for the Government than any political poll result so far. When you've got business leaders ranking the Finance Minister 13th and the Prime Minister 15th, this is a government in strife, isn't it? The reason I think this will hurt Christopher Luxon more than any of the other poll results he's managed to bat away or put a brave face on for, is that these are his people. Before he entered politics, he was one of them. He probably even took part in these surveys when he was chief executive at Air New Zealand. He's the people he's talking to when he goes on about signs of green shoots in the economy. These are the people he's talking to when he talks about getting runs on the board. The people who have said he's the 15th-best performing cabinet minister. The people he's talking to with his quarterly action plans, deliverables, KPIs, decision gates, and value chains. But his people still don't know what he's trying to do. They still don't know what his plan is. Which is why I think he will really be feeling this today. Because even his people don't get him.See omnystudio.com/listener for privacy information.

You know how the Prime Minister does a very good job of batting away poll results and saying that his focus is fixing up the joint after the last lot and that he'll wait until election day to be judged? I don't think he will find it quite as easy to do that with these results out today from the NZ Herald's annual Mood of the Boardroom survey. The annual survey of about 150 business leaders – 125 of them being CEOs of major New Zealand companies. People like Port of Auckland boss Roger Gray, the head of Tower Insurance Paul Johnston and Forsyth Barr boss Neil Paviour-Smith. One of the things that comes out in the survey results is a ranking of the performances of our Cabinet ministers. How these business leaders think of each minister is doing. Top of the list is Erica Stanford – she's the highest ranking. Winston Peters is in second place and Chris Bishop is third. The Prime Minister is ranked 15th. In last year's survey, he was sixth. Even Building and Construction Minister Chris Penk, who sits outside cabinet, ranks higher than the PM in 10th place. The other big name outside the top 10 is Finance and Economic Growth Minister Nicola Willis – the bosses at our biggest companies have ranked her in 13th place. Which is not good news for the Government. Because what's coming through loud and clear is that the business community has no faith that there is a plan to get the country “back on track”. We're way more than halfway through the Government's current term and our most senior business leaders are asking: “What is your plan Prime Minister?" I think this result out today is way worse for the Government than any political poll result so far. When you've got business leaders ranking the Finance Minister 13th and the Prime Minister 15th, this is a government in strife, isn't it? The reason I think this will hurt Christopher Luxon more than any of the other poll results he's managed to bat away or put a brave face on for, is that these are his people. Before he entered politics, he was one of them. He probably even took part in these surveys when he was chief executive at Air New Zealand. He's the people he's talking to when he goes on about signs of green shoots in the economy. These are the people he's talking to when he talks about getting runs on the board. The people who have said he's the 15th-best performing cabinet minister. The people he's talking to with his quarterly action plans, deliverables, KPIs, decision gates, and value chains. But his people still don't know what he's trying to do. They still don't know what his plan is. Which is why I think he will really be feeling this today. Because even his people don't get him.See omnystudio.com/listener for privacy information.

The Prime Minister and Finance Minister have been handed a bruising assessment from the country's top bosses. NZME's Head of Business, Fran O'Sullivan spoke to Ingrid Hipkiss.

Nicola Willis admits the economy isn't where the Government would like it to be. The Herald's annual Mood of the Boardroom survey shows business leaders are less optimistic about the economy than they were a year ago. Only a third of respondents back the Government's current growth agenda. The Finance Minister told Mike Hosking they're hearing the call for harder, faster action, loud and clear. She says business leaders broadly think the Government's doing the right things, but she accepts the Government isn't there yet when it comes to economic growth. LISTEN ABOVE See omnystudio.com/listener for privacy information.

I have to say that the Herald's Mood of the Boardroom survey pretty much sums up my mood too. Yes, there are some excellent and capable ministers doing great work within their portfolios, and let's not forget how rare and wonderful that is, given the past administration. Come in Erica Stanford, Winston Peters, Chris Bishop, Simeon Brown – all good performers, all doing well, all delivering. But when it comes to the economy, one of the main platforms upon which National campaigned, the performance is less than impressive. CEOs have sent a clear message to Finance Minister Nicola Willis in the survey. She has to hold the pro-growth line, sharpen delivery, and set out a long-term vision that brings investors back on side. The Government's going for growth agenda has five key pillars: developing talent, competitive business settings, global trade and investment, innovation, technology and science, and infrastructure, which form the backbone of Willis's economic strategy. In the beginning, New Zealand's business leaders gave Willis the benefit of the doubt. In 2024, the CEOs credited her with a strong start. Not anymore. She failed to make the top 10 top performers in the survey. As did Prime Minister Christopher Luxon. He came in for some criticism. Business leaders said he needs to listen more. He's got a mantra that's started to grate, and he knows that. They say he rates very highly when it comes to ensuring his cabinet ministers are focused and delivering. True. He actually rates reasonably well on keeping a coalition together. But the report found Luxon did not score well for building business confidence, his own political performance, and on transforming the economy. So, on those areas, he's got a lot of work to do, as Forsyth Barr managing director Neil Paviour-Smith told Mike Hosking this morning. “There are reasons to be optimistic, but hoping is not a strategy. And the business community is looking for stronger leadership from the Prime Minister and Finance Minister around some of these core long-term issues and the structural deficits of New Zealand.” They are mainly concerned, the business leaders, with boosting productivity. They want a step change that includes a boost in skill, innovation, and technology, not tinkering around the edges. They say they need to see a programme for retraining and reorienting the workforce, especially those at the lower end of the wage spectrum. They say that tax and regulatory settings need to be reformed. We need to accelerate research and development and grow high-value sectors. Infrastructure, well we talked about that yesterday. There's a need for delivery of infrastructure, not just more announcements. They want shovel-worthy projects ready as financing costs ease. Immigration and education settings came through strongly. We've lost a lot of highly skilled people out of the construction industry in the last 18 months. Now with the taps about to turn on, how do we ramp up to ensure there's capacity in the market? They also called for a compelling vision that stretches beyond a three-year election cycle. Again, what we were discussing yesterday. So there's a lot to work on. And Christopher Luxon and Nicola Willis would do well to heed the advice, the criticism, and the positive remarks made by the business leaders. All of these things we know, and all of these things we've said. And while it is true that Labour, the Greens and Te Pāti Māori aren't inspiring confidence amongst business leaders to put it mildly. As a country, we need more, we should want more than the least rubbish of two coalition governments. Waiting for the economic cycle to finish its rotation is not the vision New Zealanders were promised when a centre-right government was elected. They said there would be growth, there would be productivity, that good times were coming. Yes, it was a mess. They said they had the answer. They promised that. This coalition government, the National Party in particular, has to do better. Not just for the sake of their own political futures, but for the sake of the country. See omnystudio.com/listener for privacy information.

Nicola Willis says there's been a clear message to all ministers - we don't want the billions recently allocated for infrastructure sitting in Government bank accounts. A small scale hospital project announcement yesterday and a school property maintenance announcement today have both talked up the boost they'll give the construction sector in the coming 12 months. The Finance Minister says they want signed contracts, spades in the ground, and jobs. "The instruction to all Government ministers has been - make sure you know where your maintenance contracts are at, where those construction projects are at, to get them out the door." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Nicola Willis says there's been a clear message to all ministers - we don't want the billions recently allocated for infrastructure sitting in Government bank accounts. A small scale hospital project announcement yesterday and a school property maintenance announcement today have both talked up the boost they'll give the construction sector in the coming 12 months. The Finance Minister says they want signed contracts, spades in the ground, and jobs. "The instruction to all Government ministers has been - make sure you know where your maintenance contracts are at, where those construction projects are at, to get them out the door." LISTEN ABOVESee omnystudio.com/listener for privacy information.

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The Prime Minister maintains things are looking up despite GDP data showing the economy shrank more than expected in the last quarter. He's backing his Finance Minister to stay the course, despite calls for her resignation. Another former Finance Minister today weighing in, saying the government needs to cut spending further. The Labour leader says rather than just the Finance Minister - the whole government needs to go. Lillian Hanly reports.

Ruth Richardson does not want to see Nicola Willis resign. But the Former Finance Minister is calling on the current Minister to take a chainsaw to certain areas of spending. Recent GDP numbers have shown a worse-than expected economic picture - with a 0.9 percent dip in the June quarter. Ex Finance Minister Sir Roger Douglas is calling for the Minister's resignation. But Richardson says Superannuation's unsustainable and a bloated public service. LISTEN ABOVESee omnystudio.com/listener for privacy information.

My confidence is shot and my patience is wearing thin. That's my answer to the question I've got for you. Which is: How would you rate your level of confidence in and patience with the Government? After yesterday's GDP result, the knives are well-and-truly out. We've got former Finance Minister Sir Roger Douglas saying Nicola Willis isn't up to the job and should resign. Add to that a new poll result which says that 55% of us think the country is on the wrong track and 45% of us think the current government is worse than the previous Labour government. Sir John Key isn't having a bar of resignation talk about Nicola Willis, though. He says out of anyone in the current government, she is far and away the best person to be Finance Minister and Economic Growth Minister. He thinks she has the goods to deliver better economic days – but what else was a former National prime minister going to say? Two people I was talking to last night who voted for National at the last election weren't as generous as Sir John. And they, like I do, think Sir Roger is right – Nicola Willis isn't up to the job. Which is why my confidence has gone. As for my patience wearing thin, what I'm saying there is that I'm prepared to give the Government a little bit more time to show that it's listening. Proof of that would be moving Nicola Willis on and giving Chris Bishop the job. He's the only person in this Government who I think would be better than Nicola Willis. But just because the pickings are slim, it doesn't mean changes shouldn't be made.See omnystudio.com/listener for privacy information.

The Friday free-for-all sees Marcus cover heavy trucks, potentially outgoing Finance Ministers, and the rules around pedestrian crossings. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The news came in around quarter to 11 yesterday, and it was unwelcome confirmation of what many people had been experiencing, had been feeling. The economy had contracted, and worse, it had shrunk 0.9%, far worse than economists had been predicting. Economists at the Reserve Bank had forecast the economy would shrink just 0.3% during the June quarter. Retail banks said, "Oh, I don't think so. I think it'll be closer to 0.5." In fact, the figures released by Stats NZ yesterday showed GDP fell almost a full percentage point in the three months ended June, with declines in most industries. Manufacturing fell the hardest. It dropped 3.5% in the quarter, led by transport equipment, machinery, and equipment manufacturing, which fell 6.2%. Food, beverage, and tobacco manufacturing fell 2.2%. And that was reflected in the decreased export volumes of products such as meat, which we referred to yesterday when we were talking to Infometrics Chief Economist Gareth Kiernan. He was saying it was the drop in exports – if you haven't got the produce, you can't export it. Construction was down 1.8%, reversing a 1.2% increase in the three months ended March. So what does it all mean? Well, it means fewer jobs, it means fewer people earning, it means less money being earned. It means people scared of spending money if they do have money. It means less money sloshing around in the system. It means people doing it tough. Roger Douglas, he of Rogernomics fame or infamy, and the Finance Minister in the Fourth Labour Government, called for the head of Nicola Willis. He and Robert MacCulloch, the economist, released a statement yesterday that said Willis was sending New Zealand bankrupt by failing to get to grips with our ballooning fiscal deficits and public debt. Her own Treasury, they said, contradicts her claim that New Zealand is on a path to surplus. They say it is not. Treasury's long-term fiscal forecast showed out of control deficits due to pensions and healthcare spending from an aging population. Willis, they say, is not up to the job and is not levelling with the New Zealand public. Willis ignored that criticism, and looking at the GDP figures, says Trump's tariffs had an outsized impact on local business confidence, far out of proportion to what actually happened. She said yesterday's data is backward-looking. It's looking at what the economy was doing months ago, and she says that the economy is in fact improving. “I think when you think about your average Kiwi, they're saying, well, actually, I need to have confidence that I can pay my mortgage, maybe that I can buy a bigger house in future, that I can buy a house at all. And the biggest tailwind for that is lower interest rates. And we know that they are what has spurred previous recoveries. That's actually good economics. Our government has done everything we can to create the space for the Reserve Bank to do this, and they just have to keep doing that job. “For our part, we've chosen a balanced course of consolidating the books over a few years, which has been endorsed by international economists, by ratings agencies who say that our fiscal plan is a good one. We've delivered significant savings while investing in more infrastructure, in health services, and education services. I completely stand by that approach. And Roger Douglas may want me to slash spending overnight. That would be the wrong thing to do in terms of the commitment we've made to voters, but actually it would be the wrong thing economically.” So that was Nicola Willis holding the line. John Key, former Prime Minister, came on the Mike Hosking Breakfast this morning and put the blame squarely on the Reserve Bank. “This is a saying that Ruth Richardson once had, which was monetary policy needs mates, and that was her argument when she was really tightening up the economy, that the Reserve Bank needed that support because they were in tandem working with the government. I think what you've seen over the last 18 months or so is a government that has been working hard to get the economy straightened up after, frankly, the mess it inherited. But it hasn't had a mate in the Reserve Bank, and the Reserve Bank's job very clearly over time has been to say interest rates need to come down. “And I mean, look, two months ago, I got hammered for saying interest rates need to come down 100 basis points. Well, they came down 25, they're going to come down another 50. You can put a ring around it in the next monetary policy statement and they'll come down another 25 by Christmas. So the person that's not doing the job or the people that are not doing their job are the Reserve Bank, who frankly, if they just walked around Auckland and Wellington for five minutes, could have felt the fact that the government needed help through monetary policy.” So, the experts have had their reckons and I'd love to hear yours. Now they say, how often have you been hearing that there are green shoots growth coming? They say that things are getting better, that job vacancies are up, that business confidence is up slightly, that come Christmas most people will be off the big mortgage interest rates and onto lower ones, which will mean more money in your pocket? They're not relying on bringing in migrants to push up the housing market, give you the sugar rush that you get from basically a false economy. They're relying on the economy to rebuild itself, making it more resilient and stronger. That being said, this was a government, or the National Party was a party, that campaigned on better times ahead. We're the ones that can fix things. We're the ones that can turn the ship around. We're the ones that can fix the mess that Labour left us in. Either the mess was bigger than they thought, or the levers they're pulling aren't as effective as they thought, or we are a timorous lot. We've been knocked around too much, bashed around too much to feel particularly confident. When a lot of business has been suffering since 2022, probably, it's hard to feel confident. It's hard to feel optimistic. It's hard to feel confident about spending money or investing in capital, that sort of thing. I do think that better times are a-coming. It's just the way economies work. You know, there are cycles. And surely we've reached the bottom and now we're going to go up and then we'll reach the top and round we'll come again, no matter who's in power. So, you know, you can talk a big game, but I think what National has shown is that they are victims of the economic cycle. There were no magic levers they could pull. Could Labour have done any better? The answer to that is no. Absolutely not. That is a very hard no from me. See omnystudio.com/listener for privacy information.

An economist and former finance minister are calling on Economic Growth Minister Nicola Willis to resign. It comes in the wake of worse than expected GDP figures out today - which show our economy shrunk by nearly 1% last quarter. Nicola Willis said it is not the government's fault - and has instead put the blame on the economic turmoil caused by tariffs. Russell Palmer reports.

The economy's had a much larger slump than expected, which the Finance Minister's blaming in part on Trump's trade tarrifs. Minister Nicola Willis spoke to Corin Dann.

In today's episode, in a blow for the Government, the economy has had a much larger slump than expected which the Finance Minister's blaming in part on Donald Trump's trade tariffs, negotiations between Health New Zealand and senior hospital doctors have hit a wall - Health NZ has asked the Employment Relations Authority to come up with a settlement, Contact Energy says it's seeking fast-track approval to adjust Lake Hawea's minimum operating level in a bid to help generate more renewable energy and keep the region's power supply reliable, we're joined by our sports panel - One News Sports Editor Abby Wilson and former All Black captain Taine Randell, and we cross the ditch to Canberra to talk to our correspondent Kerry-Anne Walsh.

New Zealand's economy is weaker than expected and the slump in GDP took economists, and the Finance Minister by surprise. Auckland University professor Dr Robert MacCulloch spoke to Ingrid Hipkiss.

Finance Minister Nicola Willis says a new Reserve Bank Governor will be announced “very shortly” as she comes under growing pressure to tackle New Zealand's economic woes. Economists are calling on the Reserve Bank to cut the Official Cash Rate more aggressively after yesterday's shock GDP result. New Zealand's gross domestic product (GDP) fell by 0.9% in the June quarter, a reduction well over market expectations. Expectations were for a 0.4% decline in GDP, while Reserve Bank forecasts were for a 0.3% drop. The worse-than-expected outcome could mean the Reserve Bank will cut its Official Cash Rate (OCR) more aggressively than was previously thought, economists said. In an interview with Newstalk ZB's Mike Hosking this morning, Willis was asked what she expects from the Reserve Bank to address the situation. “I will very shortly be announcing a new governor for the Reserve Bank. Obviously, we've had a chair change at the Reserve Bank. We are refreshing that institution and I think that is very good indeed,” Willis said. She would not give a specific date for the announcement, instead describing it as happening “very shortly”. She confirmed she knew who the new Governor is. Christian Hawkesby is the current Acting Governor of the Reserve Bank. He was appointed to a six-month term in April following Adrian Orr's resignation in March. Willis told Hosking Kiwis shouldn't get down about the latest drop in GDP and we mustn't talk our way into a recession. She says we shouldn't overreact to a bad quarter – we've got to keep playing the full game, dig in, and do the things that are needed to grow the economy. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Nicola Willis says uncertainty over Donald Trump's tariffs drove down GDP in the June quarter. But the Finance Minister admits has admitted she was surprised to see the economy's contracted 0.9 percent. She says there was consensus that GDP would drop, but most forecasts had it at 0.3 percent. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Nicola Willis says uncertainty over Donald Trump's tariffs drove down GDP in the June quarter. But the Finance Minister admits has admitted she was surprised to see the economy's contracted 0.9 percent. She says there was consensus that GDP would drop, but most forecasts had it at 0.3 percent. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Ghana's Finance Minister, Dr. Cassiel Ato Forson, has assured the nation that all future government borrowing will be strategically focused on high-impact, transformative projects aimed at enhancing debt sustainability and stimulating long-term economic growth.

New GDP figures are set to be unveiled tomorrow, and there's concerns from experts that the economy is struggling. The upcoming GDP data is projected to show an economy under pressure, as earlier forecasts of an incoming rebound look less and less likely. Newstalk ZB senior political correspondent Barry Soper says the Finance Minister is trying to soften the blow and put things in perspective. LISTEN ABOVESee omnystudio.com/listener for privacy information.

“I like to think about ESG not only as a risk management tool, but also as an opportunity. I think the, the flip side of risk is opportunity. So if we think that a diverse team is what will bring more innovation, more ideas, more, let's say different ways of looking at needs and products, then this is an opportunity….What about if we think about the way that people consume, what is the carbon footprint that we have?.... And how do you reduce it? Or maybe build technology that helps reduce your impact on the planet, or helps you reduce the amount of AI or cloud usage that you use? So I, I think that looking at ESG as a risk and, and as an opportunity tool is actually very good.” Cecile Blilious on Electric Ladies Podcast   In 2025 so far, 2.3% of venture capital funding went to companies founded by women, 2.3%. So that means 97.7% of the funding went to men. The percents have been in the same range for decades. Seriously. Think of all the innovations that are not getting funded due to this ridiculous bias. What can we do about it? Listen to Cecile Blilious of Venture ESG and European Women in VC explain new financing models that could work to fund more innovative businesses, especially those founded by women – in this enlightening conversation with Electric Ladies Podcast host Joan Michelson.   You'll hear about: ●        What venture capital really is and how it works. How male and female VCs differ. ●        Insights into ESG investing that address both the risks and the opportunities – reframing both ●        New financing models we need and that they might look like. ●        Plus, career advice, such as:   “I think being clear about your values is very important. Where would you work and where wouldn't you?... Let's focus on one or two that are the most important things that are like showstoppers... Then in mid-career, what I see happen many times with women is that women don't apply to jobs…but if you don't apply, you're not even considered. So my advice would be, look at the next job that you'd like to have in your career path, and if you think that you're 50% qualified for it, apply because you are grow into the role” Cecile Blilious on Electric Ladies Podcast   Read Joan's Forbes articles here.   You'll also like: ·       Unlocking Capital For Women And Climate Solutions – Women Leaders In Finance And Investment, The Earth Day Women's Summit ·       The SEC Climate Risk Disclosure Rules – Tara Giunta, Global Co-Chair of ESG & Sustainable Finance Practice at Paul Hastings law firm ·       Climate as a Geopolitical Security Emergency, with Svitlana Krakovska, Ph.D. and Mirian Villela, head of Earth Charter, a UN-founded organization and the Center for Education for Sustainable Development. ·       The Hidden Power of ESG – with Natalie Jaresko, Managing Director, EY Parthenon, former Finance Minister of Ukraine Subscribe to our newsletter to receive our podcasts, blog, events and special coaching offers. Thanks for subscribing on Apple Podcasts or iHeartRadio and leaving us a review! Follow us on Twitter @joanmichelson

GUEST: Brenda Bailey, B.C's Minister of Finance Learn more about your ad choices. Visit megaphone.fm/adchoices

Your Most Played Moment Of 2025: In this exclusive interview from inside the Beehive, Finance Minister Nicola Willis joins us to discuss NZ's economic future covering everything from housing affordability, debt, and financial literacy to KiwiSaver, exports, and why cutting red tape is critical for growth.Watch the full episode hereThe Minister's appearance is not an endorsement of any particular financial advice service or company.For more money tips follow us on:⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The content in this podcast is the opinion of the hosts. It should not be treated as financial advice. It is important to take into consideration your own personal situation and goals before making any financial decisions.

Nicola Willis has responded to protesters chained to the outside of her Johnsonville electorate office. The group of Christian leaders want an urgent timeline from the Government for implementing sanctions against Israel over the war in Gaza. They're praying and fasting - and say they're prepared to stay overnight. Willis says she supports the right to protest, however they're getting in the way of people who want to get help from her office. She says security have been engaged by Parliamentary Services, and security have been engaging with the police. Five clergy were trespassed from Simeon Brown's Pakuranga electorate office earlier today. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Chinese finance minister says the country's fiscal policy will continue to balance risk prevention and growth promotion, retaining ample room for future measures.

The remains of 30 Chinese volunteer soldiers who fell in the War to Resist U.S. Aggression and Aid Korea have returned from South Korea, marking the 12th repatriation under a bilateral handover agreement (01:09). The UN Security Council has condemned Israel's strike on Doha, voicing its support for Qatar and the country's vital role in mediation amid the Gaza conflict (21:31). China says its government debt remains manageable, with the country's fiscal policy having ample room for future action (38:01).

//The Wire//1500Z September 9, 2025////PRIORITY////BLUF: ISRAELI FORCES BOMB QATAR TO KILL HAMAS LEADERSHIP WHICH ARRIVED FOR PEACE TALKS. NEPALI GOVERNMENT OVERTHROWN AS PM RESIGNS AND PARLIAMENT BURNS. BLACKOUTS REPORTED IN BERLIN DUE TO TERRORIST ATTACKS ON ELECTRICAL GRID.// -----BEGIN TEARLINE------International Events-Germany: This morning power outages were reported throughout Berlin, as multiple insurgent groups conduct coordinated attacks on electrical infrastructure around the city. Local authorities state that two separate transmission towers were set on fire by malign actors, and several cable cutting attacks may have also been undertaken (though that is uncertain at this time).Analyst Comment: Right now no definitive confirmation on who conducted these attacks, but historically these types of attacks are conducted by ecoterrorists, which have conducted arson attacks (and cable-cuttings) on electrical infrastructure around Europe for some time now. Middle East: This morning Israeli forces conducted strikes in Doha, widening the war to now include engaging in hostilities in Qatar. Israeli officials have confirmed that they carried out a strike on Khalil al-Hayya, the Hamas leader in charge of the delegation sent to conduct peace talks in Doha. The American Embassy has issued a shelter-in-place order for American citizens throughout the country.Analyst Comment: This is a big deal. It's one thing to bomb Gaza, Lebanon, or Syria, but it's a major escalation to bomb a nation with serious power throughout the region. Bombing the country that is currently mediating the war they are fighting also effectively eliminates any chance of peace.Nepal: Overnight the Nepalese government was overthrown in chaos after widespread demonstrations broke out regarding corruption issues in government. In the span of just a few hours, these demonstrations expanded to include demonstrators breaching the Parliamentary compound, which resulted in security forces opening fire on the crowds, killing 19x people. A few minutes after these shootings, more demonstrators stormed the Parliament building and set it on fire. Most of the residences of high ranking government officials were also breached and burned. Several high-level Ministers were severely beaten, including the Finance Minister, who was observed being dragged through the streets. One of Nepal's former PM's was also beaten severely, but for now is still alive. Current Prime Minister K.P. Sharma Oli has resigned and was able to escape Kathmandu via helicopter. Most of the government has resigned, and many cabinet ministers remain unaccounted for. Flights out of Kathmandu Airport have been halted due to the unrest, so flights out of the country will be unavailable for some time.-----END TEARLINE-----Analyst Comments: The events in Nepal bear the hallmarks of non-organic regime change, though for what purpose (and by whom) remains unclear at the moment. These demonstrations did not spring up out of nowhere, they were organized by Hami Nepal, an NGO that is so new that their own website is not yet finished. This organization appears to mostly be active in earthquake disaster relief, so organizing a political protest is not within their missionset as described on their website.Analyst: S2A1Research: https://publish.obsidian.md/s2underground//END REPORT//

New Zealand First is backing major changes to KiwiSaver ahead of the election and it's sparked discussion about what this could mean going forward. The party's announced it will campaign on compulsory employee and employer contributions rising to 10 percent, to be offset with tax cuts. Finance Minister Nicola Willis says this will likely be a significant issue ahead of the election, but she's voiced concerns about the tax cuts. "For context, our tax package that we delivered after the election was $3.7 billion - so that is a heck of a lot of tax cuts. So the question then becomes - how do we fund that?" LISTEN ABOVESee omnystudio.com/listener for privacy information.

From the BBC World Service: India's Finance Minister has announced massive tax cuts on hundreds of everyday consumer items. The move is aimed at boosting domestic demand amid 50% American tariffs on Indian exports. Then, a group of English-speaking hackers claims to be behind a massive cyberattack that's halted global production lines at Jaguar Land Rover. And Texas has become the latest U.S. state to impose restrictions on some foreign-born people and businesses buying or renting property.

From the BBC World Service: India's Finance Minister has announced massive tax cuts on hundreds of everyday consumer items. The move is aimed at boosting domestic demand amid 50% American tariffs on Indian exports. Then, a group of English-speaking hackers claims to be behind a massive cyberattack that's halted global production lines at Jaguar Land Rover. And Texas has become the latest U.S. state to impose restrictions on some foreign-born people and businesses buying or renting property.

In part two, the Finance Minister has rejected a call to make employer KiwiSaver contributions compulsory for their over-65 workers. And the Panel talks to Aaron Martin who runs East Skate Club, which is a charity in Auckland providing a space for young and old to skate.

Wellington-based freelance journalist and former RNZ reporter Eric Frykberg ranked our best and worst in consultation with historians, economists and insiders.

Whether it's the government, international organisations, higher education, or the media, one of the defining dynamics of the social media age is the deteriorating trust in public institutions. It's extraordinary, really. At a time when humans are on the whole wealthier, healthier, and more dominant than at any other time in our species' history, we're more distrustful of the institutions that are supposed to serve us. Saturday Mornings is usually a monetary policy-free zone, and I promise to mostly keep it that way for now. But it was pretty remarkable at the close of play last night to see an announcement from the Finance Minister about the Chair of the Reserve Bank. Neil Quigley had resigned, effective immediately, following further revelations about his handling of former Governor Adrian Orr's departure. Nicola Willis confirmed to Newstalk ZB that if Quigley hadn't offered his resignation, she'd have asked for it. I don't expect everyone to follow all of the Reserve Bank dramas. But the long and short of it is that former Governor Adrian Orr got in a dispute with the government over the bank's funding. It turned into a showdown of sorts, the Reserve Bank Board raised concerns with him about his conduct (some of which he disputed), and after taking leave for a few days he ultimately resigned. But instead of being absolutely transparent about the dispute and what had actually happened, the RBNZ Chair Neil Quigley told media that Orr had resigned for “personal reasons”. If this was just some rando then no harm no foul. But Adrian Orr was the Governor of the Reserve Bank, one of the most powerful public servants in the country. His pen stroke and the decisions of his Monetary Policy Committee could be the difference between thousands or hundreds of thousands of people losing their jobs or homes. Like many journalists, I didn't buy the “personal reasons” explanation and felt we all deserved to know more detail about what had actually happened. Ater all, this wasn't a private company. The Reserve Bank serves us. After Neil Quigley's explanation, and after the Reserve Bank declined for Adrian Orr to be interviewed, I even went to the extreme length of sending him a letter at his home asking him to front. It's something I'd almost never do, but the public deserved an explanation. And it's taken until now and a ruling from the ombudsman for us to get the full story. I think there are lessons in this for all of us who work in jobs that purport to serve the public. In my role, I think about trust a lot. And look, I know this is very different to the Reserve Bank, much lower stakes, but I had the chance to reflect on my own work this week, and tried to lean into the spirit of introspection and openness. I was on a podcast, re_covering, in which Newstalk ZB's Frank Ritchie asks journalists to reflect on a story they covered. I didn't choose one which I'd absolutely nailed. Instead, I reflected on my five years as TVNZ's US Correspondent, and on my surprise at the first election of Donald Trump. As I said on re_covering, the fact so many of us were so shocked by the result (including Trump!) shows I and the rest of the news media covering that election had done a massively insufficient job of reflecting the scale of the anger and dissatisfaction with the status quo in the US. That election changed the world. Ultimately, I hope reflecting on my surprise will make me more sceptical of conventional wisdom, and better at my job today. Humans are fallible. We all make mistakes. But the Reserve Bank episode demonstrates the best thing a public institution can do to protect its reputation is not try and protect its reputation. Just admit when you got things wrong. Admit things that make you look bad. Learn lessons the hard way. Convince the public you have nothing to hide by showing us you have nothing to hide. See omnystudio.com/listener for privacy information.

Reserve Bank board chairman Neil Quigley has resigned “with immediate effect” in the wake of the shambolic handling of Adrian Orr's resignation as Governor. Finance Minister Nicola Willis made the announcement just before 6pm on Friday - the day after the Reserve Bank revealed Orr temporarily stepped down as Governor a week before the public was told he resigned The Finance Minister says she did not ask the Reserve Bank Chair to quit, following news he's resigned with immediate effect. Nicola Willis told Heather du Plessis-Allan that having completed key work streams with the bank, Quigley said the timing was appropriate. Willis says she raised criticism around the board's handling of information relating to the former Governor's exit. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Calls for certainty from the supermarket sector as Economic Growth Minister Nicola Willis weighs more action. She's introduced fast track consenting to encourage new players into the market. Willis says she's looking carefully at the idea of breaking up the duopoly. Foodstuffs North Island Chief Executive Chris Quin told Mike Hosking the future of their business needs clarity on what regulations will be put in place. He says the individual owners are scratching their heads wondering what's going to happen. Quin also believes the amount of competition already in the market may be higher than people realise. He says 30% of the retail grocery market is third players in Auckland and 18% nationwide. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Government expects new supermarkets to pop up in months, rather than years - with planned reforms. It's introducing legislation to pass before the end of the year to allow supermarkets that boost competition to be up for fast-track approval. Finance Minister Nicola Willis says supermarkets can also apply for streamlined building consents. "Really, it's just a matter of how quickly they can build." Costco's confirmed its looking at opening new stores in New Zealand, after success in West Auckland. Meanwhile, the Government's looking at the costs and benefits of breaking up the supermarket duopoly. LISTEN ABOVESee omnystudio.com/listener for privacy information.

New Zealand's on track for stronger economic growth but it could take a while to flow through to house prices. Westpac is forecasting New Zealand will outpace Australia's growth over the next few years. But New Zealand will still face a higher unemployment rate and lower wage growth, and the recovery's likely to be felt in some regions much sooner than others. Former Finance Minister Steven Joyce told Mike Hosking property will be the last sector to see a turnaround. He says New Zealand saw property prices go up 40% during the boom, compared to a 30% rise in Australia. Joyce says it'll be an export-led recovery – something we haven't had for a while. He says with an export-led recovery, Auckland feels it later than other regions, which is what we're seeing now. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Further work on tackling the supermarket duopoly is in the wings. The Finance Minister claimed an update is imminent on plans to improve competition in the supermarket sector. She says this has been an issue for decades - and she'll have more to say in coming weeks. Nicola Willis says the announcement won't be a 'silver bullet' but it will reveal what the Government's been working on. "I'm not going to be announcing an international supermarket chain with 50 stores that's going to be opening up next month." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Every Saturday, we revisit a story from the archives. This originally aired on February 22, 2023. None of the dates, titles, or other references from that time have been changed. Pakistan is still reeling from 2022’s deadly floods, which put a third of the country underwater. Though the country has barely contributed to climate change, its people are still paying the price. Six months on from the worst of the devastation, people across the country are still displaced and they’re facing knock-on effects of the floods on their health. The international community pledged $9 billion to aid Pakistan in rebuilding at the beginning of this year, but experts on the ground say it will be of little use if it doesn’t arrive soon. So is the international community doing enough to help? In this episode: Zuha Siddiqui (@SiddiquiZuha), Journalist Taimur Khan Jhagra (@Jhagra), Former Health & Finance Minister, Khyber Pakhtunkhwa Ed Taylor, Emergency Response Coordinator, Doctors Without Borders Episode credits: This episode was updated by Tamara Khandaker. The original production team was Ashish Malhotra, Amy Walters, Chloe K. Li, and our guest host, Halla Mohieddeen. Our sound designer is Alex Roldan. Our engagement producers are Adam Abou-Gad and Vienna Maglio. Aya Elmileik is lead of audience engagement. Alexandra Locke is The Take’s executive producer, and Ney Alvarez is Al Jazeera’s head of audio. Connect with us: @AJEPodcasts on X, Instagram, Facebook, and YouTube