When the Facts Change
194 episodes - English - Latest episode: 18 days ago - ★★★★★ - 6 ratingsHosted by journalist Bernard Hickey, When the Facts Change is your essential weekly guide to the intersection of economics, business and politics in Aotearoa New Zealand. Presented by The Spinoff together with Kiwibank.
Visit kiwibank.co.nz to find out how Kiwibank are making Kiwi better off
Homepage Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Episodes
A decade in charge of the national power grid
June 27, 2024 17:00 - 25 minutesAfter ten years at the helm of Transpower, chief executive Alison Andrew is stepping down. She reflects on a tumultuous decade of managing Aotearoa’s most important network, and why she considers being relatively unknown in the public arena as a mark of success. This interview was recorded shortly before a Transpower pylon collapsed in Northland on June 21st, causing widespread power outages in the region. The collapse was caused by contractors who failed to observe proper procedure while ca...
What kind of homes do we actually want?
June 20, 2024 17:00 - 31 minutesIs the Kiwi dream to own a "McMansion", a "shoebox" or something else entirely? Bernard talks with The Urban Advisory’s MD Greer O’Donnell about a major new survey of what type of homes we actually want. She says it may not be the quarter acre "pavlova paradise" still assumed by many voters and politicians when they’re deciding on what should be be built and where. If you'd like to take part in The Urban Advisory's housing survey, click here Learn more about your ad choices. Visit megaphone....
Bonus episode: When the most facts changed the fastest
June 18, 2024 17:00 - 38 minutesBernard revisits the most revolutionary era in our political economy in conversation with Toby Manhire. Together they discuss how much the Labour Government of 1984 to 1989, portrayed in The Spinoff's new hit podcast series Juggernaut, created our modern economy, for good and ill. Listen to Juggernaut here Learn more about your ad choices. Visit megaphone.fm/adchoices
Listen Now: episode one of Juggernaut – I Love You, Mr Lange
June 18, 2024 02:32 - 55 minutesWe thought you might like a wee taster of our brand new #1 series, Juggernaut: The Story of the Fourth Labour Government, hosted by Toby Manhire. Click here to follow Juggernaut so you get every episode as soon as it's released! 1. I love you, Mr Lange Fuelled by brandy and fury, Sir Rob Muldoon calls a snap election, sparking a 1984 campaign of contrasts – the menacing, protectionist National PM against the fresh, upbeat Labour leader, David Lange. The pretext for the election is the decisio...
Why is the Reserve Bank continuing to hold the OCR?
June 13, 2024 17:00 - 33 minutesReserve Bank Chief Economist Paul Conway joins Bernard in the immediate aftermath of a surprisingly hawkish monetary policy statement, and just before the Budget. Together they discuss sources of inflation, why interest rates are staying high for longer than anyone expected, and whether the blunt instrument of the official cash rate can do anything about this extra-sticky inflation. Learn more about your ad choices. Visit megaphone.fm/adchoices
How a cold snap almost caused an national energy crisis
June 06, 2024 17:00 - 30 minutesBernard Hickey goes deep into the mechanics of the electricity distribution system to find out what really happened during a cold snap in May that almost caused a national energy crisis. He talks to Electric Kiwi CEO Luke Blincoe about how to solve the dry winter and cold snap problem without spending billions of dollars on new generation and lines. Learn more about your ad choices. Visit megaphone.fm/adchoices
Budget day special
May 30, 2024 04:41 - 24 minutesNicola Willis has delivered tax cuts in her first budget, largely as promised. But has the coalition government managed to square the circle of relieving cost of living pressures while avoiding the quicksand of encouraging inflation? In a special crossover episode of Gone By Lunchtime meets When the Facts Change, Toby Manhire quizzes Bernard Hickey on all that, plus: Is Willis right to say the tax cuts are not paid for by borrowing, and can she reasonably blame Labour for the bleak fiscal out...
An interest rate bludgeoning
May 23, 2024 17:00 - 26 minutesThe Reserve Bank warned this week of high interest rates and high inflation for even longer, with sticky rental, rates and insurance inflation all partly to blame. Kiwibank chief economist Jarrod Kerr joins Bernard Hickey to discuss the how blunt our central bank's main monetary policy tool can be, and the developing opinion that high interest rates actually increase, rather than decrease, the inflation. Learn more about your ad choices. Visit megaphone.fm/adchoices
Floods knocked out Redclyffe, so why rebuild on the same flood-prone site?
May 16, 2024 17:00 - 29 minutesThe Redclyffe substation near Napier flooded during Cyclone Gabrielle and turning it off turned off the power for much of Hawkes Bay and Tairāwhiti. Transpower has fixed it for now, but has faced a big decision: should it rebuild it where it is now, next to a stream? Or start again on higher ground? The choice tells us a lot about how to think about our climate future. Bernard Hickey talks about that decision with Transpower’s executive general manager grid delivery, Mark Ryall. Learn more ab...
How many lives is that tax cut worth?
May 09, 2024 17:00 - 34 minutesThe Government has repealed various smokefree measures to ensure it keeps collecting $1.2 billion a year in tobacco taxes, in order to pay for tax cuts already being delivered to landlords. But an economic analysis done by Otago University's public health department has found keeping the smokefree measures would have been of benefit not only for public health, but also for the economy. The university's Professor Nick Wilson joins Bernard to discuss the fascinating figures resulting from that ...
Introducing Behind the Story: If you love a dog, you must also love disposing of its sh*t
May 03, 2024 20:00 - 20 minutesThe Spinoff has just launched a brand new series called Behind the Story, where site editor Madeleine Chapman sits down with a staff writer or contributor to gain more insight about a big story on The Spinoff from the week. We thought you might like to check out the first episode, and if you enjoy it please follow it wherever you get your podcasts! On Friday, Bulletin editor Anna Rawhiti-Connell sent her final newsletter, and took the opportunity to share what she’s learned about the news ov...
The unreachable dream of the kiwi bach
May 02, 2024 17:00 - 33 minutesBernard Hickey talks with property academic Deborah Levy about her research into the changes in the way bach owners feel about their holiday homes. Where once the bach was the centrepiece of 'the kiwi dream’, a place for friends and families to gather, relax and create memories, they have now become a financialised asset to be added to the portfolio of the increasingly wealthy few. What's behind this change? What insights can this research give into the rest of our dysfunctional national prop...
The meaning of digital cash
April 25, 2024 17:00 - 28 minutesThe Reserve Bank wants to know how the public feels about a potential new type of digital cash. This digital currency would be exchangeable one-for-one with ‘old’ forms of bank-issued electronic money and ye olde paper cash and metal coins, but would not outright replace the physical stuff. RBNZ’s Head of Money and Cash Ian Woolford joins Bernard to discuss what’s different with this new digital cash, what problems it could solve and how it might open up a whole new front in bank competition....
The week the economic mood shifted
April 18, 2024 17:00 - 30 minutesKiwibank chief economist Jarrod Kerr joins Bernard to discuss and dissect the trajectory of inflation and interest rates, both here in Aotearoa and around the globe. Inflation is stickier than expected and interest rates are likely to stay higher for longer, but what does that mean for the kiwi dollar? How do US Fed chair Jerome Powell's recent comments affect us? And what is going on with the price of gold? Learn more about your ad choices. Visit megaphone.fm/adchoices
Who is being hit hardest by inflation?
April 11, 2024 17:00 - 20 minutesKiwibank economist Sabrina Delgado joins Bernard to discuss the ways inflation affects various groups in Aotearoa. From homeowners and renters to beneficiaries and pensioners, they explore how inflation impacts everyone differently, and reveal who is being hit hardest by the current spike. Learn more about your ad choices. Visit megaphone.fm/adchoices
When monopolies clash
April 04, 2024 16:00 - 39 minutesAuckland Airport wants to put up its landing charges to help pay for a multibillion dollar revamp of its terminals. Its biggest customer, Air NZ, is complaining that the airport is over-charging. So who is right? What is fair? And what happens when two effective monopolies butt heads? Bernard Hickey talks to Auckland Airport CEO Carrie Hurihanganui about the dispute, how the Commerce Commission factors in, and what the airport is planning to mitigate its long-term impact on the changing clima...
How do we get over the electrification tipping point?
March 28, 2024 16:00 - 39 minutesThe evidence is clear: it's good for our pockets and for the planet, so what's stopping families and businesses from going electric? How do we address the electrification knowledge gap and other barriers that stand in the way of adopting cleaner, more affordable energy both as individuals and organisations? Bernard Hickey talks to Rewiring Aotearoa CEO Mike Casey about their recent report 'Electric Homes', and how NZ is one of the first countries to reach the "electrification tipping point". ...
Should philanthropic giving be a moral obligation?
March 21, 2024 16:00 - 30 minutesWith the majority of Aotearoa struggling to meet basic needs, philanthropic funding is more important than ever. Cheryl Spain, executive director of The Gift Trust, joins Bernard Hickey to explain why philanthropic giving needs to become part of New Zealand culture, where funding should be directed within an organisation for maximum effectiveness and how to navigate the complications that come with financial giving. Learn more about your ad choices. Visit megaphone.fm/adchoices
A battle won in the War for Wellington
March 17, 2024 16:00 - 28 minutesIn a special edition of When The Facts Change, Bernard Hickey talks with The Spinoff’s Wellington editor Joel MacManus about the historic victory for YIMBYs in last week’s District Plan votes by the Wellington City Council. Who knew that town planning could be so important? Learn more about your ad choices. Visit megaphone.fm/adchoices
Navigating the rising tide of electricity demand
March 14, 2024 16:00 - 27 minutesTranspower is taking a new approach to handling the massive increase in demand for electricity. Instead of building bigger power pylons (and a lot more of them), they want to reduce demand for electricity in the first place. Bernard Hickey is joined by Transpower’s John Clarke to discuss the state-owned power transmission company's recent RFP for non-transmission solutions; novel ideas such as buying demand reduction through virtual grids and batteries. And ground zero for their electrical in...
When caution reigns
March 07, 2024 16:00 - 31 minutesKiwibank chief executive Steve Jurkovich joins Bernard Hickey to discuss how businesses and consumers are feeling early in 2024, why an RBNZ rate hike last week would not have helped and how banks are thinking about the challenges of climate risk and cybersecurity. Learn more about your ad choices. Visit megaphone.fm/adchoices
To hike, or not to hike? Unpacking the monetary policy statement with Adrian Orr
February 29, 2024 16:00 - 27 minutesTe Pūtea Matua governor Adrian Orr joins Bernard to discuss the bank’s decision to hold the official cash rate at 5.5%, rather than hiking it further in an attempt to control rampant inflation (which is still roughly double where the RBNZ wants it). Listen in to hear the governor's reasoning behind the cash rate hold, his thoughts on New Zealand's record net migration and whether the government's decision to remove the bank's inflation/unemployment dual mandate earlier in the year has made an...
This is Kiwi: Sarah Hirini on growth and leadership
February 25, 2024 16:00 - 38 minutesWorld-class athlete Sarah Hirini has spent nearly a decade as captain of the national women’s sevens team. Through the course of her career she’s clocked up Olympic gold and silver medals, a couple of Rugby World Cup wins and in 2019 was made a member of the New Zealand Order of Merit. She was also winner of the NZ Sports Leadership award at last year’s Halberg Awards. There’s no doubt Sarah is truly inspirational, but what sets her apart is her leadership style – nuanced, caring, and focused...
The real reason our government won't borrow to fix our infrastructure issues
February 22, 2024 16:00 - 38 minutesChristopher Luxon has described Aotearoa’s government finances as fragile, but the most qualified folks in financial markets don’t see it that way. Bernard Hickey talks to S&P Global’s government ratings director Anthony Walker about just how fragile our government and local council finances actually are. According to Anthony, NZ’s AAA rating means international investors view NZ as a strong borrower with $120 billion worth of borrowing headroom to solve its infrastructure deficits. Yet the g...
This is Kiwi: Nico Porteous on the process of performance
February 18, 2024 16:00 - 51 minutesAt just 22 years old, Nico Porteous is one of New Zealand's most accomplished athletes. He first made his mark on Aotearoa sporting history at 16 when he became our youngest Olympic medalist, claiming bronze in the men's freeski halfpipe. In 2022 he soared even higher in Beijing, clinching an Olympic gold to add to his two X Games gold medals alongside being made a member of the New Zealand Order of Merit. Nico's accolades speak volumes, but beyond the medals there’s a depth of character and ...
How super is NZ Super?
February 15, 2024 16:00 - 30 minutesAfter releasing a paper earlier this week outlining her policy recommendations for the government, retirement commissioner Jane Wrightson joins Bernard Hickey to discuss the complex challenge of superannuation in Aotearoa. Why should the age of eligibility stay at 65? Which demographics would be adversely affected by a decision to raise it? And is it a problem that approximately 50,000 pensioners collect NZ Super while earning over $100,000 a year? Learn more about your ad choices. Visit mega...
This is Kiwi: Louis Davis on modern fatherhood
February 11, 2024 16:00 - 43 minutesIn sharing daily dad life with his social media following of nearly two million, Louis Davis challenges fatherhood stereotypes by being meaningfully present for his family. Join Louis as he sits down with Jane Yee and, through genuine humour and heartfelt anecdotes, offers an alternative narrative about the role and responsibilities of fathers. As he shares his wisdom on the beauty of whānau, the joys of parenthood and the importance of integrity, Louis' story serves as a poignant reminder of...
We all need to cut 75% of our personal carbon emissions. But how?
February 08, 2024 16:00 - 26 minutesIn order to limit global warming to 1.5ºC, and avoid the catastrophic effects brought on by further warming, every person on the planet must limit their personal carbon dioxide emissions to just two tonnes per year. The current annual emissions average for someone living in New Zealand? Over eight. Writer, consultant and climate justice campaigner Emily Mabin Sutton joins Bernard Hickey to help figure out how we can get our own carbon emissions under control. Learn more about your ad choices....
This is Kiwi: Kendall Flutey on focusing your ambition
February 04, 2024 16:00 - 41 minutesKendall Flutey is on a mission to help create a better future for kids all over the world. As the founder of financial literacy software Banqer, Kendall is focusing her ambition for good in a bid to empower the next generation towards a future of financial wellbeing. Combining unbridled passion, a generous spirit and tenacious business acumen, Kendall is a force to be reckoned with in the entrepreneurial space. She joins Jane Yee to discuss what it means to be intentional in all areas of life...
A year on: decoding the cost of major weather events
February 01, 2024 16:00 - 25 minutesHow do you measure the cost of the Auckland Anniversary floods and Cyclone Gabrielle? A year on from these catastrophic weather events, NZIER economist Roshen Kulwant joins Bernard Hickey to discuss which costs we're measuring, what we’ve learnt and what still needs to be done. Learn more about your ad choices. Visit megaphone.fm/adchoices
This is Kiwi: Te Aorere Pēwhairangi on finding inspiration
January 28, 2024 16:00 - 41 minutesTe Aorere Pēwhairangi is a dynamic content creator dedicated to making te reo and te ao Māori accessible. After a promising rugby league career was cut short by injury, Te Aorere moved into translation work which led to TV presenting roles and a dedicated following on social media where he connects with hundreds of thousands. Te Aorere talks to Jane about his commitment to his people, including his campaign ‘Waewae the 35’ that raised $115,000 for Cyclone Gabrielle-stricken communities. Recen...
The latest acronym in the Reserve Bank's tool kit
January 25, 2024 16:00 - 30 minutesEarlier this week the Reserve Bank of New Zealand proposed a new debt-to-income (DTI) ratio limit. Along with the 11-year-old loan-to-value ratio (LVR) limit, the RBNZ hopes these lending restrictions will help "limit the build-up of systemic financial risk" in our housing market. Bernard Hickey talks to Helen O’Sullivan, Valocity Global's CEO of Real Estate, to dig into the proposed policy, and whether LVRs have actually made the financial system safer over the last decade. Learn more about ...
This is Kiwi: Jazz Thornton on resilience through adversity
January 21, 2024 16:00 - 38 minutesWhat happens when you take on your trauma with the whole world watching? Jazz Thornton joins Jane Yee for a raw and entertaining kōrero between friends that exposes the reality of turning your pain into purpose in a very public way. The young mental health advocate and social media star speaks openly about the highs and lows of sharing her life through a lens and reveals what motivates her to show up for others every day, even as she continues to work through her own intense historic trauma. ...
What's behind New Zealand's water woes?
January 18, 2024 16:00 - 33 minutesAotearoa New Zealand is a rich and functional country, but it can’t seem to operate a safe and well-maintained water system. CEO of Water NZ Gillian Blythe tells Bernard Hickey exactly why that is, and what's needed to get our water infrastructure back on track. Learn more about your ad choices. Visit megaphone.fm/adchoices
Summer minipod 3: the grim reality for low-lying suburbs
January 11, 2024 16:00 - 11 minutesIn the final of three summer mini episodes, Bernard Hickey a key moment from 2023 when the political economy in Aotearoa shifted on its axis in real time. Last up is the day the nation’s biggest insurer said Petone and many other low-lying suburbs around the motu would not be insurable in 30-50 years due to climate change. Learn more about your ad choices. Visit megaphone.fm/adchoices
Summer minipod 2: the closing window of hope for our climate
January 04, 2024 11:00 - 9 minutesIn the second of three summer mini episodes, Bernard Hickey a key moment from 2023 when the political economy in Aotearoa shifted on its axis in real time. Second up is the day the Climate Commission chair, Rod Carr, told the deniers and delayers of climate change action to get out of the way for the rest of us to take advantage of the opportunities for cheaper, healthier and safer lives. Learn more about your ad choices. Visit megaphone.fm/adchoices
Summer minipod 1: “end of story”
December 28, 2023 16:00 - 9 minutesIn the first of three summer mini episodes, Bernard Hickey a key moment from 2023 when the political economy in Aotearoa shifted on its axis in real time. First up is the day that Chris Hipkins declared the ‘end of story’ for a wealth or capital gains tax in New Zealand for at least the next decade. Learn more about your ad choices. Visit megaphone.fm/adchoices
Monopod: Reacting to Nicola Willis' mini-budget
December 20, 2023 16:00 - 11 minutesNational promised their first budget would expose 'fiscal vandalism' by the previous Labour government. Now that Bernard Hickey has had a chance to rifle through the numbers, he finds minimum substance to the claims. Learn more about your ad choices. Visit megaphone.fm/adchoices
The Spinoff presents SUPERPOD 2023
December 18, 2023 16:00 - 42 minutesSUPERPOD is back! Hosted by Gone By Lunchtime's Toby Manhire and featuring Jane Yee and Alex Casey from The Real Pod, Duncan Greive from The Fold, Gone By Lunchtime's Annabelle Lee-Mather, Simon Pound from Business Is Boring, Bernard Hickey from When The Facts Change and The Spinoff Podcast Network's Te Aihe Butler and Samuel Robinson, SUPERPOD 2023 is the crossover to end all crossovers. From intense discussion of government policy to figuring out what the heck a skibidi toilet is, we celebr...
The economic impact of record-high migration
December 14, 2023 16:00 - 25 minutes2023 has seen record-high net migration after a large dip during the height of Covid. Bernard Hickey talks with Kiwibank economist Mary-Jo Vergara about the economic effects of high migration on rents, inflation, interest rates and house prices. Learn more about your ad choices. Visit megaphone.fm/adchoices
The real cost of the smoking excise tax
December 07, 2023 16:00 - 27 minutesTo replace $700 million a year of revenues lost from a foreign buyers tax, the new coalition government is dumping the previous government's smoke free 2025 goal. This relaxing of policies will keep more people smoking for longer, costing thousands of lives per year and at least $10 billion is extra health costs and lost working hours. Bernard Hickey speaks with University of Otago public health researcher Andrew Waa about his analysis of the changes to smoke free, and finds out the true cost...
When can we expect mortgage rates to drop?
November 30, 2023 16:00 - 21 minutesThe Reserve Bank surprised everyone this week by warning it may have to raise interest rates again to force inflation down, effectively eliminating the prospect of major mortgage rate cuts over the coming summer. Kiwibank Chief Economist Jarrod Kerr joins Bernard Hickey to dig in to the RBNZ’s unexpected hawkish outlook heading into 2024. Learn more about your ad choices. Visit megaphone.fm/adchoices
The budget benefits of going electric
November 23, 2023 16:00 - 29 minutesCould a South Island cherry farm set the standard for an electric future? Mike Casey from Rewiring Aotearoa joins Bernard Hickey to discuss what it took to make the switch from running his cherry farm on fossil fuels to renewable electricity. He also explains the ways in which going electric will save our homes, farms and small businesses thousands each year. Learn more about your ad choices. Visit megaphone.fm/adchoices
The state of the economy in Aotearoa with Steve Jurkovich
November 16, 2023 16:00 - 46 minutesWith cost of living forefront on people's minds, what are banks doing to alleviate pressure on the consumer? Bernard Hickey sits down with Kiwibank chief executive Steve Jurkovich to discuss how the economy is travelling, the pressures consumers are dealing with, and the regulatory adjustments he hopes to see in 2024. Learn more about your ad choices. Visit megaphone.fm/adchoices
A new solution to the first-home deposit problem?
November 09, 2023 16:00 - 41 minutesNew fintech startup Aera says first-home buyers would need to save for an infinite number of years to secure a house deposit. Founder Derek Handley joins Bernard Hickey to discuss Aera's plan to help first-home buyers to get onto the property ladder, with a new take on the bank of mum and dad. Learn more about your ad choices. Visit megaphone.fm/adchoices
How leaders can learn from their mistakes
November 02, 2023 16:00 - 29 minutesAfter leaving the CEO position at Z Energy, Mike Bennetts became an executive coach and has just published his own book: Being Extraordinary by confronting your ordinary. Mike talks to Bernard Hickey about how leadership is different from management, and how leaders can learn from their mistakes. You can find Mike's book at: https://www.taumataadvisory.com/beingextraordinary Learn more about your ad choices. Visit megaphone.fm/adchoices
How to defend yourself from tech-savvy scammers
October 26, 2023 16:00 - 27 minutesIn April and June of 2023, online scammers stole $4.2 million from New Zealanders. Bernard Hickey speaks to Kiwibank senior external fraud investigator Sareta Fraser about how bank customers and banks are in an arms race against increasingly ingenious and awful scammers. She lays out the tricks and schemes used by the scammers and offers tips and techniques that customers can use to protect themselves. Learn more about your ad choices. Visit megaphone.fm/adchoices
The wind power revolution energising Aotearoa
October 19, 2023 16:00 - 29 minutesWhat makes New Zealand one of the most geographically perfect places to harness the power of Tāwhirimātea? This week, Bernard Hickey talks with Giacomo Caleffi from Copenhagen Infrastructure Partners about how the NZ Super Fund could bolster their plan to build a massive offshore wind farm off the coast of South Taranaki. They discuss why offshore wind is so necessary in the transition to 100% renewable energy, and how renewable energy differs from renewable power. Learn more about your ad ch...
Powering down to keep your savings up
October 12, 2023 16:00 - 36 minutesAre we using our energy networks as efficiently as possible? Bernard Hickey interviews Octopus Energy’s UK-based head of systems change, Marcia Poletti, about innovative ways power companies can adapt their current system to better support the energy grid. Learn more about your ad choices. Visit megaphone.fm/adchoices
Using LinkedIn to build your business better
October 05, 2023 16:00 - 34 minutesAll around the globe, business owners are struggling to launch, manage, and sustain their companies' increasingly necessary online presence in an impactful way. Bernard Hickey speaks to the marketing director at Smarketing Lab, Assia Salikhova, for some free consulting on how to build his podcasting empire in the social space. She explains the simple ways you can let nosy folks know that you and your business are alive and thriving. . Learn more about your ad choices. Visit megaphone.fm/adch...