90 seconds at 9am: Key torpedoes 2025 Taskforce; Farm lending falls

Watch video on YouTube here. Watch on our video page here. Bernard Hickey details the key news overnight in 90 seconds at 9am in association with ASB, including news that the 2025 Taskforce is due to recommend today a flat tax and cuts in government spending, although Prime Minister John Key has already torpedoed the report, saying he does not want big bang reform. Figures out from the Reserve Bank show farm lending fell NZ$297 million in October to NZ$46.934 billion, the first monthly fall in farm lending since February 2001 when total lending was NZ$12.58 billion. Meanwhile consumer lending rose for the first time since December last year.