July 7, 2026 • 10 mins
THE BEST BITS IN A SILLIER PACKAGE (from Wednesday's Mike Hosking Breakfast) Seems Like She Knows What She's Doing/Working Smarter, Harder and?.../Being Like the Donald/Who's Running This Place?/Meanwhile... In the Philippines and Cuba
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Speaker 1 (00:09):
You're listening to a podcast from news Talk said, be
follow this and our wide range of podcasts now on iHeartRadio.
Speaker 2 (00:22):
The Rewrap.
Speaker 3 (00:22):
Okay there and welcome to the Rewrap for Wednesday, all
the best bits from the mic asking breakfast on news
Talk said be in a sillier package. I am Glen
Hart and today what is productivity and why don't we
do it? Import Tariff's a good idea, you know, should
we make people chat that Villa knows like they are
starting to in Europe now and a thing that used
(00:46):
to be in Europe for the UK, how is labor
polling in terms of who's going to be actually running
the place? And then we'll keep things global with a
little hit about what's happening in Philippines and what's happening
in Cuba. I know, look at us going around the world,
but first back here what the RB and Z should
(01:06):
say and do today day.
Speaker 2 (01:08):
Also, it's hard to overstate the importance of the New
Zealand economic story and the state of the places we
broadly understand it. We are on the precipice of some
sort of comeback. The better days are in their preliminary stages.
Actually here and there are more to come. Critically, we've
had a taste late last year and into the early
part of this year of what might be Then came Iran.
Of course, a lot of fear got attached to Iran,
(01:29):
but increasingly it looks a lot like that was misplaced.
Any number of people who look at such matters have
decided the worst conclusions are wrong. The darkest of days
will not be happening. Most noticeably is inflation. The straight
closure would lead to exploding prices, apparently not just oil
and petrol, but plastics and ceramics, all the stuff we
build with. What appears to have happened is the world
managed to get around it, either by not passing on
(01:50):
massive price increases and or finding alternative sources of supply.
Latest bank forecasts are inflation peaked at a smidge over
four percent last quarter. Now four is not within the
Reserve Bank band, of course, but it will be because
all forecasts also suggest to philly quick and quite possibly
orderly return to about two percent next year. So does
the bank have a crack today? Increasingly the thinking is no,
(02:12):
not universally no, but largely no. And the mixed messaging
yet again reminds us what a tricky old world we
live in. This doesn't mean they won't at some point
pull the trigger, but at such a fragile stage, surely
we can mount a strong enough case to suggest we
might like to hold type for now. Part of the
fragility of all of this, of course, is based around
the Reserve Bank under different management having made a pretty
(02:33):
large hash of matters. So most of us quite keen
not to repeat the exercise. If we get out of
this with some GDP growth this year, an inflation rate
that got not a lot higher than four and a
cash rate of maybe late twos, that is quite the
story of resilience, and I think the majority of us
are quite keen for the better economic days.
Speaker 3 (02:52):
One thing seems certain. We like Anna Bremen, doctor Brewman,
don't we? I think I think haven't heard a bad
word about her, So that's nice?
Speaker 2 (03:02):
A rewrap.
Speaker 3 (03:03):
Is she productive? Is she bringing some of that overseas
European productivity to New Zealand? Is that what's going on? Mike?
Speaker 2 (03:10):
How do we change that productivity? He talks of, how
do we change that? How do we increase it? To
Australia in the UK's level. I don't understand it must
be thick. You're not thick, Andy. The productivity debate is
the great modern conundrum, and that is, I mean, the
obvious one is it's basically doing more with less technologies.
Your classic easy answer farmers are some of the most
(03:30):
efficient in the world in this particular part of the world.
But we've never been that productive. If you want to
read a very good piece I think it was in
the Sydney Morning Herald the other day, do you know
who the most productive in terms of productivity per capita?
Is what you're looking at, productivity or GDP per capita
is what you need to read. The most successful country
in the EU at the moment is Poland. And you
(03:53):
wouldn't have said that. And they've had a revolution and
a revelation and so you don't normally look at Poland
as being a particularly productive or successful country, but they are.
So have a look at that. The major powers of
Europe ast struggling. This country is in rude health. Have
a look at that, and that'll give you an insight
into how productivity should work and why it never really
(04:14):
has in this particular country.
Speaker 3 (04:16):
Yeah, it's hard to know, isn't it. What's happened in Poland.
That's made them more productive than anybody else. And how
you get more? You know, how many signs up say
saying work hard and nuts works smart and not hard,
harder nuts? Which one are you supposed to do? See?
This is why I've scored very low when it comes
to productivity. I suppose if you just charge more for
(04:37):
all your stuff, would that make you more productive?
Speaker 2 (04:39):
For hard to reconcile, I know, but the power of
the power of self interest is never to be underestimated.
Retail in New Zealand is loving the look. They reported
the EU who this month started a new terrafon cheap goods.
It's three euros per package for anything under one hundred
and fifty euros. It's aimed at Timu and Co. Of course,
easy argument to make. I mean, who likes Timur? Who
(05:01):
likes cheap, nasty, tacky, plasticy stuff that pollutes the world
and has made in mass factories paying people dirt wages,
if not slave wages, Answer heaps of us. Nothing sells
a product to more people more often than a cheap
price tag. And that is why China is a powerhouse,
and that is why our teams have conquered the world,
So retail New Zealand wants us to do an EU
and tariff the same way. Now, our trouble is, we're
(05:23):
free traders. We basically invented free trade. We are good
at free trade, and in terms of doing business with
the world, no one operates an easier access marketplace than us.
And boy have we are we doing well out of it.
So given that you can't then go and be something
else when it suits you. Tariff's a poison. And because
for every person you protect, someone else picks up the bill.
And for every tariff you generate, you invite another player
(05:44):
to generate one back. And we are the luckiest of
consumers right now because we have lived through a moment
in history where tariffs and their destructive outreaches have been
on full display thanks to the US President. For a
while there it looked like the free trade train that
had built up a serious head of steam over the
past fifty years was in danger of being completely derailed.
The US unilaterally and randomly applied numbers to goods pulled
(06:05):
out of a hat. The Supreme Court quelled it. Thank god,
it's still not over. But Trump, to paraphrase his maloney,
barb back and forth. People come and people go, and
as a result, normalish business will be resumed with a
Rubio or Vance or Newsome type white house. Meantime, as
we revel in our continually record breaking revenue streams from
beef and lamb and key, we fruit to wind together US,
China and the EU. It is no time to be
(06:27):
sending mixed messages on the way we conduct a business.
So retail in New Zealand back in your box here.
Speaker 3 (06:33):
I feel like we've really had this conversation. We've seen
tariffs blown up in somebody's face and we'd rather not
have any of that. Thanks the rewrap right, So yeah,
trrid times in UK politics. Forage foraging in a big way.
(06:53):
But it's sort of taking the spotlight off Andy Burnham,
who's about to be the PM. But who's about to
be as you left right, third hand men and women.
Speaker 2 (07:03):
Yeah, the pole. So Burnham's about to become the Prime
Minister of Britain, which is pretty significant in and of itself,
given no and elected them outside of the good people
of Manchester. They've had a poll you gov ed miller
Band red ed twenty one percent, and this shows you
how divided one that this is Labor Party members right,
so joji how divided they are ed middle of band
(07:24):
for Treasurer twenty one percent, keep Rachel on board twenty percent.
And the big one, the really popular one is they
don't know, which is twenty eight percent. So six percent
say we're streeting. So you can see the bind.
Speaker 3 (07:37):
That I am seriously considering starting the I don't know party.
I feel like they always get a lot of votes.
I don't know why they're not more successful. The re
wrap right, let us finish by taking you to the
Philippines and to Cuba and quick succession. Hope you don't
get yet leg you.
Speaker 2 (07:54):
Might want to follow deterte Sarah relative of obviously VP
in the Philippines. That trial is underway. She could be
removed from a post band, from holding public office, et cetera,
et cetera. Makes it slightly tricky. The Senate's going to vote,
so sixteen of the twenty four senators need to vote
to impeach the Senates split between the Marcoses and the Detertas.
(08:16):
Of course, the Senates had four presidents this year alone.
Each leadership change is called a coup, so that's tricky.
Two senators allied with deterte have been arrested in recent weeks,
and other's gone into hiding and it's unclear whether they
can actually vote. Can you vote when you're in hiding. Meantime,
and other troubled parts of the world, Cuba's had another
(08:37):
nationwide blackout on Monday, as their ongoing energy crisis shows
no signs of being alleviated. Because you thought Trump was
going to roll, and when did that start. It was
a couple of months ago. He's going to roll, and
wasn't he. So he's taking his time. So they've activated
their emergency microsystems that apparently power the vital services. The president,
he was in Britain the other day, told you about that,
(08:58):
and he had a crack at America, which I'm not
sure is the wisest thing to do. The Americans got
the stranglehold on the oil, of course, because they want
to open up the government country to the international investment.
But they're all communists in Cuba, so they think their
way is a better way. Anyway, The National Assembly has
approved a broad set of reforms aimed at opening its economy.
No one knows what the hell that means or what
(09:19):
they are. Meantime, the US and the Cubans are still talking,
so I don't know. We'll see what happens. It doesn't
look like the lights are going on.
Speaker 3 (09:28):
Yes, it's interesting, isn't it. Cuba perhaps not quite as
vulnerable as Venezuela was. The people there seem to be
pretty happy about life, don't they, don't you reckon? I
mean obviously not when the powers off, but the rest
of the time. So, and you know, the healthcare and
(09:51):
all that. They're doing something right. I'm just not quite
sure what it is. Anyway. I'm sure Trump sort it
all out in no time, just like he did with
the football. I am Glen Haart. That was the rerap
will do it again tomorrow. M hmmm.
Speaker 1 (10:11):
For more from News Talk set B listen live on
air or online, and keep our shows with you wherever
you go with our podcasts on iHeartRadio.
You're listening to a podcast from news Talk said, be
follow this and our wide range of podcasts now on iHeartRadio.
Speaker 2 (00:22):
The Rewrap.
Speaker 3 (00:22):
Okay there and welcome to the Rewrap for Wednesday, all
the best bits from the mic asking breakfast on news
Talk said be in a sillier package. I am Glen
Hart and today what is productivity and why don't we
do it? Import Tariff's a good idea, you know, should
we make people chat that Villa knows like they are
starting to in Europe now and a thing that used
(00:46):
to be in Europe for the UK, how is labor
polling in terms of who's going to be actually running
the place? And then we'll keep things global with a
little hit about what's happening in Philippines and what's happening
in Cuba. I know, look at us going around the world,
but first back here what the RB and Z should
(01:06):
say and do today day.
Speaker 2 (01:08):
Also, it's hard to overstate the importance of the New
Zealand economic story and the state of the places we
broadly understand it. We are on the precipice of some
sort of comeback. The better days are in their preliminary stages.
Actually here and there are more to come. Critically, we've
had a taste late last year and into the early
part of this year of what might be Then came Iran.
Of course, a lot of fear got attached to Iran,
(01:29):
but increasingly it looks a lot like that was misplaced.
Any number of people who look at such matters have
decided the worst conclusions are wrong. The darkest of days
will not be happening. Most noticeably is inflation. The straight
closure would lead to exploding prices, apparently not just oil
and petrol, but plastics and ceramics, all the stuff we
build with. What appears to have happened is the world
managed to get around it, either by not passing on
(01:50):
massive price increases and or finding alternative sources of supply.
Latest bank forecasts are inflation peaked at a smidge over
four percent last quarter. Now four is not within the
Reserve Bank band, of course, but it will be because
all forecasts also suggest to philly quick and quite possibly
orderly return to about two percent next year. So does
the bank have a crack today? Increasingly the thinking is no,
(02:12):
not universally no, but largely no. And the mixed messaging
yet again reminds us what a tricky old world we
live in. This doesn't mean they won't at some point
pull the trigger, but at such a fragile stage, surely
we can mount a strong enough case to suggest we
might like to hold type for now. Part of the
fragility of all of this, of course, is based around
the Reserve Bank under different management having made a pretty
(02:33):
large hash of matters. So most of us quite keen
not to repeat the exercise. If we get out of
this with some GDP growth this year, an inflation rate
that got not a lot higher than four and a
cash rate of maybe late twos, that is quite the
story of resilience, and I think the majority of us
are quite keen for the better economic days.
Speaker 3 (02:52):
One thing seems certain. We like Anna Bremen, doctor Brewman,
don't we? I think I think haven't heard a bad
word about her, So that's nice?
Speaker 2 (03:02):
A rewrap.
Speaker 3 (03:03):
Is she productive? Is she bringing some of that overseas
European productivity to New Zealand? Is that what's going on? Mike?
Speaker 2 (03:10):
How do we change that productivity? He talks of, how
do we change that? How do we increase it? To
Australia in the UK's level. I don't understand it must
be thick. You're not thick, Andy. The productivity debate is
the great modern conundrum, and that is, I mean, the
obvious one is it's basically doing more with less technologies.
Your classic easy answer farmers are some of the most
(03:30):
efficient in the world in this particular part of the world.
But we've never been that productive. If you want to
read a very good piece I think it was in
the Sydney Morning Herald the other day, do you know
who the most productive in terms of productivity per capita?
Is what you're looking at, productivity or GDP per capita
is what you need to read. The most successful country
in the EU at the moment is Poland. And you
(03:53):
wouldn't have said that. And they've had a revolution and
a revelation and so you don't normally look at Poland
as being a particularly productive or successful country, but they are.
So have a look at that. The major powers of
Europe ast struggling. This country is in rude health. Have
a look at that, and that'll give you an insight
into how productivity should work and why it never really
(04:14):
has in this particular country.
Speaker 3 (04:16):
Yeah, it's hard to know, isn't it. What's happened in Poland.
That's made them more productive than anybody else. And how
you get more? You know, how many signs up say
saying work hard and nuts works smart and not hard,
harder nuts? Which one are you supposed to do? See?
This is why I've scored very low when it comes
to productivity. I suppose if you just charge more for
(04:37):
all your stuff, would that make you more productive?
Speaker 2 (04:39):
For hard to reconcile, I know, but the power of
the power of self interest is never to be underestimated.
Retail in New Zealand is loving the look. They reported
the EU who this month started a new terrafon cheap goods.
It's three euros per package for anything under one hundred
and fifty euros. It's aimed at Timu and Co. Of course,
easy argument to make. I mean, who likes Timur? Who
(05:01):
likes cheap, nasty, tacky, plasticy stuff that pollutes the world
and has made in mass factories paying people dirt wages,
if not slave wages, Answer heaps of us. Nothing sells
a product to more people more often than a cheap
price tag. And that is why China is a powerhouse,
and that is why our teams have conquered the world,
So retail New Zealand wants us to do an EU
and tariff the same way. Now, our trouble is, we're
(05:23):
free traders. We basically invented free trade. We are good
at free trade, and in terms of doing business with
the world, no one operates an easier access marketplace than us.
And boy have we are we doing well out of it.
So given that you can't then go and be something
else when it suits you. Tariff's a poison. And because
for every person you protect, someone else picks up the bill.
And for every tariff you generate, you invite another player
(05:44):
to generate one back. And we are the luckiest of
consumers right now because we have lived through a moment
in history where tariffs and their destructive outreaches have been
on full display thanks to the US President. For a
while there it looked like the free trade train that
had built up a serious head of steam over the
past fifty years was in danger of being completely derailed.
The US unilaterally and randomly applied numbers to goods pulled
(06:05):
out of a hat. The Supreme Court quelled it. Thank god,
it's still not over. But Trump, to paraphrase his maloney,
barb back and forth. People come and people go, and
as a result, normalish business will be resumed with a
Rubio or Vance or Newsome type white house. Meantime, as
we revel in our continually record breaking revenue streams from
beef and lamb and key, we fruit to wind together US,
China and the EU. It is no time to be
(06:27):
sending mixed messages on the way we conduct a business.
So retail in New Zealand back in your box here.
Speaker 3 (06:33):
I feel like we've really had this conversation. We've seen
tariffs blown up in somebody's face and we'd rather not
have any of that. Thanks the rewrap right, So yeah,
trrid times in UK politics. Forage foraging in a big way.
(06:53):
But it's sort of taking the spotlight off Andy Burnham,
who's about to be the PM. But who's about to
be as you left right, third hand men and women.
Speaker 2 (07:03):
Yeah, the pole. So Burnham's about to become the Prime
Minister of Britain, which is pretty significant in and of itself,
given no and elected them outside of the good people
of Manchester. They've had a poll you gov ed miller
Band red ed twenty one percent, and this shows you
how divided one that this is Labor Party members right,
so joji how divided they are ed middle of band
(07:24):
for Treasurer twenty one percent, keep Rachel on board twenty percent.
And the big one, the really popular one is they
don't know, which is twenty eight percent. So six percent
say we're streeting. So you can see the bind.
Speaker 3 (07:37):
That I am seriously considering starting the I don't know party.
I feel like they always get a lot of votes.
I don't know why they're not more successful. The re
wrap right, let us finish by taking you to the
Philippines and to Cuba and quick succession. Hope you don't
get yet leg you.
Speaker 2 (07:54):
Might want to follow deterte Sarah relative of obviously VP
in the Philippines. That trial is underway. She could be
removed from a post band, from holding public office, et cetera,
et cetera. Makes it slightly tricky. The Senate's going to vote,
so sixteen of the twenty four senators need to vote
to impeach the Senates split between the Marcoses and the Detertas.
(08:16):
Of course, the Senates had four presidents this year alone.
Each leadership change is called a coup, so that's tricky.
Two senators allied with deterte have been arrested in recent weeks,
and other's gone into hiding and it's unclear whether they
can actually vote. Can you vote when you're in hiding. Meantime,
and other troubled parts of the world, Cuba's had another
(08:37):
nationwide blackout on Monday, as their ongoing energy crisis shows
no signs of being alleviated. Because you thought Trump was
going to roll, and when did that start. It was
a couple of months ago. He's going to roll, and
wasn't he. So he's taking his time. So they've activated
their emergency microsystems that apparently power the vital services. The president,
he was in Britain the other day, told you about that,
(08:58):
and he had a crack at America, which I'm not
sure is the wisest thing to do. The Americans got
the stranglehold on the oil, of course, because they want
to open up the government country to the international investment.
But they're all communists in Cuba, so they think their
way is a better way. Anyway, The National Assembly has
approved a broad set of reforms aimed at opening its economy.
No one knows what the hell that means or what
(09:19):
they are. Meantime, the US and the Cubans are still talking,
so I don't know. We'll see what happens. It doesn't
look like the lights are going on.
Speaker 3 (09:28):
Yes, it's interesting, isn't it. Cuba perhaps not quite as
vulnerable as Venezuela was. The people there seem to be
pretty happy about life, don't they, don't you reckon? I
mean obviously not when the powers off, but the rest
of the time. So, and you know, the healthcare and
(09:51):
all that. They're doing something right. I'm just not quite
sure what it is. Anyway. I'm sure Trump sort it
all out in no time, just like he did with
the football. I am Glen Haart. That was the rerap
will do it again tomorrow. M hmmm.
Speaker 1 (10:11):
For more from News Talk set B listen live on
air or online, and keep our shows with you wherever
you go with our podcasts on iHeartRadio.
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