
When the Facts Change
Hosted 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
Latest episodes

Jan 18, 2024 • 35min
What's behind New Zealand's water woes?
Aotearoa 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

Jan 11, 2024 • 12min
Summer minipod 3: the grim reality for low-lying suburbs
In 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

Jan 4, 2024 • 10min
Summer minipod 2: the closing window of hope for our climate
In 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

Dec 28, 2023 • 10min
Summer minipod 1: “end of story”
Chris Hipkins, a political figure who declared the 'end of story' for a wealth or capital gains tax in New Zealand for at least the next decade, discusses the political divide and potential consequences of implementing a wealth or capital gains tax. They explore the challenges of implementing a wealth tax, including taxing land values and determining fair valuations.

Dec 20, 2023 • 12min
Monopod: Reacting to Nicola Willis' mini-budget
National 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

Dec 18, 2023 • 44min
The Spinoff presents SUPERPOD 2023
SUPERPOD 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 celebrate the best and worst of what has been a rollercoaster year. Learn more about your ad choices. Visit megaphone.fm/adchoices

Dec 14, 2023 • 27min
The economic impact of record-high migration
2023 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

Dec 7, 2023 • 30min
The real cost of the smoking excise tax
To 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 costs of reversing them. Learn more about your ad choices. Visit megaphone.fm/adchoices

Nov 30, 2023 • 23min
When can we expect mortgage rates to drop?
The 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

Nov 23, 2023 • 31min
The budget benefits of going electric
Could 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