Full Show Podcast: 05 September 2024

Episode Transcript
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Speaker 1 (00:01):
Your trusted source for news and fews, the Mic Hosking
Breakfast with Bailey's Real Estate, your local experts across residential, commercial.

Speaker 2 (00:10):
And rural news. Togs Hed been honing.

Speaker 3 (00:12):
And welcome today. We've gone more rule changes coming to banking.
Maybe a South African tour for the all blacks like
the good old days. The carbon auction was another complete
and ut up bust as no one turned up. Dame
Lisa brings all the medals in and chats about our
performance and being brilliant after right, Joe mckenni's and Italy
along with Rod who is in the UK. Hosking welcome
to the Thursday as part of seven PAS six. By

(00:34):
the way, it's part of my ongoing observations on whether
we have a real problem or just a perceived problem.
I give you last week's result for Woolworth's New Zealand.
Their earnings before tax were down fifty seven point two percent.
Did the Grocery Commission to see these results before he
published his report yesterday. The fifty seven percent is the
lowest figure in ten years. This is one of the
businesses that is part of a sector that is apparently

(00:55):
gouging us robbing us, running us rampant all over the
place and bleeding us dry with their outright prices and
scandalous behavior, or so the rhetoric would have you believe.
They argue the results speak to a competitive environment and
the cost of living crisis. And by the way, look
at their Australian outlet, same story. They would appear if
you look at the numbers to be hardly rolling in dough. Ironically,

(01:15):
one of the costs that went up for them was wages.
Wages increased nineteen percent over the past two years nineteen.
Is that a company robbing the workers blind. That's well
above inflation and then some that's the market working. That's
an industry having trouble finding people to do a job
in sorting it by paying more money. Like everything else,
we've become obsessed with petrol, airlines, banking. At least part

(01:37):
of the problem is our size, and we just refuse
to accept it. A country of five million, and that
five million scattered all over the place is not a
recipe for lots and lots and lots of options when
it comes to pretty much anything. Once again, look at Australia,
twenty seven million people, lots of supermarkets, but the same story.
They're not happy either when the Commers Commission, or the
government or all the Consumers Institute talk about lack of competition.
That's the easy bit. The hard bit is actually getting

(01:59):
so want to take the risk, find the money, buy
the land, build the building, open the door and do
the trade. This country, like any country, is not sure
of people with an eye for a dollar or an opportunity.
But just saying there aren't enough players in the market
isn't all you need to provide that alternative that we
allegedly solve all our concerns with, Like banks, we actually
have quite a few grosses, a lot of places to

(02:21):
buy a carrot and a stake in a can of beans.
If Walworths reported an eighty nine percent increase in profits
year after year and they've been doing so for decades,
would have some questions. But they look to me like
a lot of other companies. Successful, yes, but struggling in
tough times and hardly creaming it the way the rhetoric
would have you believe.

Speaker 1 (02:38):
Why News of the World in ninety seconds.

Speaker 3 (02:42):
Reminds us this morning that their biggest growth industry is
the one that writes reports into things that went wrong.
Today it's Grenville again.

Speaker 4 (02:49):
And those who lived in the tower were badly failed
over a number of years and in a number of
different ways by those who were responsible for ensuring safety
of the building and its occupants.

Speaker 3 (03:03):
The survivors feel vindicated.

Speaker 5 (03:04):
So you can see where the greed came into play.
You can see where the manipulation came into play, and
also the fudlent activities that was going on between companies
allowing each other to get away with certain things.

Speaker 3 (03:18):
The Prime minister says what prime ministers say in such circumstances.

Speaker 2 (03:22):
It should never have happened.

Speaker 6 (03:25):
The country failed to discharge its most fundamental duty to
protect you and your love gloves.

Speaker 3 (03:31):
I meantime, the Tories have been working on sorting out
a new leader. First vote was held over night.

Speaker 6 (03:35):
So as a result of the ballot. As the result
of the ballot, Pretty Patel is eliminated from the contest.
And there'll be a further ballot next Tuesday.

Speaker 3 (03:46):
It will, and I'll work you through the others and
who's left and what the rules are. Shortly then Stateside
and Georgia, we've got a school shooting.

Speaker 7 (03:51):
What do you see behind us? Ah is the evil
thing today. At about nine thirty this morning, we received
the first call that there was an active shooter on
this campus.

Speaker 3 (04:04):
And then the campaign that rolls on new polling for
you in a moment.

Speaker 8 (04:07):
New Hampshire, that's not traditionally one of the battleground states
that we're talking about. It's voted for the Democratic nominee
for president for the past twenty years. It had been
slipping somewhere when Joe Biden was atop the Democratic ticket.

Speaker 3 (04:20):
I'll give you all those numbers shortly. Finally we may
have broken down the number one way not to be tied.
The news comes from Eric Bood, doctor Eric Booth. He's
an intimateent fasting specialist with over twelve million subscribers on YouTube.
He says, the definitive way not to be tied is exercise.
Number one way to produce more mitochondria, which is known
as the energy factor within yourselves and it's u mitochondria

(04:42):
and when that gets low, it's when you get hit
by more diseases and your body uses up other material.
So get get exercise, get moving. That's news of the
world in ninety second and by the way, stateside, in
the economy, job openings fell currently right here, right now,
the receiven point six seven million job openings in America.
That's the lowest number. Once again, we'll get nervous about
mister Powell and whether he's left it too late. It's

(05:04):
the lowest number since January of twenty twenty one. Lots
more data out overnight. Actually that's why we've got Andrew next.

Speaker 1 (05:09):
Twelve past six, the Mic Asking Breakfast Full Show podcast
on iHeartRadio. How if my news talk zippy.

Speaker 3 (05:18):
I'm just trying to work out and I can't quite
get to the bottom of it yet. But Klever, who's
the Foreign Minister for Ukraine, has quit overnight. He's been
there since March of twenty twenty. They've had problems. The
air Force guy got sacked the other day and it's
not the first sacking Zelenski's been responsible for. And this
is the widest of the broadest cabinet reshuffle he's undertaken
since the war began. So I can't work out whether

(05:39):
he's quit because he's sick of it, or he's quit
because he's been told to quit. But anyway, that's unfolding
as we speak. Fifteen past second, Right over and go
my Wealth Andrew Keller have very good morning to you.

Speaker 2 (05:49):
Yeah, very good morning mate.

Speaker 3 (05:50):
I probably needed a microscope, but they did in Australia
find a little bit of growth there.

Speaker 2 (05:54):
There was a little bit of growth.

Speaker 9 (05:56):
So with Casta eyeing across the Tasman this morning, their
latest reports on growth over that's for the second quarter.
So we're looking at this ahead of our second quarter
growth release on nineteenth September. YEP plus zero point two
percent growth for the second quarter in the Lucky Country.

Speaker 2 (06:10):
Annual growth at one percent.

Speaker 9 (06:12):
That's a slow down from the one point three percent
annual growth that they recorded to the.

Speaker 2 (06:16):
First quarter of twenty twenty four.

Speaker 9 (06:18):
And you know, Q the hand ringing and the gnashing
of teeth over there, as you know report it's being
reported as a knee mech and very soft. But you know,
call me cynical in my aging years. But at least
it's got a positive number in front of it, hasn't it.
We're expecting a negative number for our second quarter growth
here now discount but look, it is soft from a
comparative point of view because discounting the pandemic period, that's

(06:41):
the slowest rate of growth for Australia since the early
nineties recession, and of course they've pushed into straights up
over there to try and combat inflation as well, and
it's worked to sort of slow the economy, but they
didn't push interest rates up to the same degree that
we saw here.

Speaker 2 (06:55):
They have got this.

Speaker 9 (06:56):
One of per capita basis though they've now had six
consecutive quarters of negative growth on a per capita basis.
They had quite high migration over there as well, so
more people look. A big surprise in the numbers might
was the weakness of the consumer. Consumers spending decline zero
point two percent in the June quarter. That's the biggest
quarterly decline outside of COVID since the GFC. Much of

(07:19):
the growth over there, the fact that they did get
positive growth was driven driven by three things I'm seeing.
It attributed to government spending. Increased government spending, foreign students,
and tourism visitors. So you've got a divergence in Australia
between the public and the private sector. The private sector
was a negative contributor to growth, but strength in the

(07:40):
public sector offset that. And just think about those three
factors and compare them to hear Mike. They've got increased
government spending well, our government's trying to spend less. Their
foreign students, well, foreign students have been slow to return here,
and our tourism rebound is sort of as stalling a bit,
So we're sort of quite different on those three factors.
Spending Australia is now aday record share of the OSSI

(08:03):
economy twenty seven point three percent of GDP. Back in
twenty twenty one it was twenty seven point one. So
the government's getting in there holding the economy up. They've
had a whole bunch of collective bargaining as well, agreements
which have pushed public sector wages up, so that's aided spending.
And next quarter they could get a boost from cost
of living measures which were announced in their budget, which

(08:23):
come into effect in the second quarter.

Speaker 2 (08:25):
So look, we'll get our comparison on the nineteen, So
we wait. We eagerly anticipate that number, Mike.

Speaker 3 (08:30):
No, we don't because it will be negative. But and
then then we have the debate OVERQ three anyway, because
of the label weekend, so we got our first big
and you alluded to this yesterday. September is an interesting
time for the markets in America. So what do we
get day one.

Speaker 9 (08:43):
Yeah, so look, this is what's called the September effect.
So yeah, the first day of trading because they had
Labor day off, was an absolute shocker, you know, as
that gave up over three percent and big falls and
the S and P five under there and the S
and P fund died Dow Jones as well, So very
negative starts to set ten trading, and we get this
sort of all this talk.

Speaker 2 (09:02):
About all, well that's September.

Speaker 9 (09:03):
September is Look, and I haven't sort of corroborated this number,
but September is sort of recognized as being the only
calendar month to average a negative return if you look
at data going back over you know, almost one hundred years.
But you've got to be careful with averages, don't you,
because obviously it doesn't mean that every September is negative.
I also think we should point out that the US

(09:24):
share market does perform better in September's leading into a
US presidential election.

Speaker 2 (09:30):
Of what have we got this year? We've got a
US pre dential election.

Speaker 9 (09:33):
But you have these bigg anomalies when September's been terrible,
you know, nineteen thirty one share market crash, two thousand
and eight share market crash, and people remember that stuff
stoking the potential negative mood at the moment, all these
recession fears, and he had quite a bit of data
over nine. All data right now has the potential to
shift the animal spirits. You know, we got the first
of the labor numbers. I think you referred to this

(09:55):
before the jolts. The job opening numbers a little bit
weaker than expected. Few a job openings means a weaker
labor market. But off setting that overnight, you had durable
goods orders factories they held up.

Speaker 2 (10:07):
Now at six.

Speaker 9 (10:08):
Just about ten to twenty minutes ago, they had the
release of the Beige Book, cunningly called because it's always beige,
but that reports on all the different FED districts.

Speaker 2 (10:17):
There's a lot of data.

Speaker 9 (10:18):
When they haven't had time to look through that yet.
In the US share market at the moment, it was
holding up. It's just weakening off a little bit as
we speak. But I think once people digest that Beige Book,
we might get a bit more direction there.

Speaker 3 (10:30):
What are the other numbers?

Speaker 9 (10:32):
Well, so yeah, dal Jones is down fifty four points,
so it's zero point one three percent.

Speaker 2 (10:36):
That's not huge.

Speaker 9 (10:37):
Four the S and P five hundred and five to
five one six it's down just under quarter percent, and
the Nasdak holding up only down twenty four points, and
the seventeen thousand, one hundred and eleven dow the foots
one hundred eight two sixty nine overnight down about a third.

Speaker 2 (10:51):
Of a percent.

Speaker 9 (10:51):
The NICKETO had a shocker, it was down over four percent.
A lots of semiconductor stress over in Asia as well.
Thirty seven and forty was the mark there. Shanghai composite
down nineteen two seven eighty four. The oussi's yesterday lost
almost two percent, So Big four there down one hundred
and fifty three points seven nine to five oz.

Speaker 2 (11:10):
But we held up pretty well. We were up.

Speaker 9 (11:11):
We were up nineteen points in the insects fifty twelve
five hundred and fifty three Kiwi dollar against the US
point sixty one ninety two point ninety two three three
against the OSSI point five y five nine four euro
point four to seven one five against the pound eighty
nine point one nine Japanese yen gold two thousand, four
hundred and ninety three dollars in brink gruds still under
a bit of pressure, mics seventy two dollars and eighty

(11:32):
seven cents. With a strong Kiwi, we should see petrol
punk prices sort of moderating a little at some point.

Speaker 3 (11:39):
Let us hope soon. We'll see you tomorrow. Andrewkelliherjmiworld dot
co dot m zscow. While we're in America. And this
is the power of the central Bank, not that they move,
but the anticipation is and the interest rates are starting
to come down. And when interest rates come down, the
people go crazy on refinancing housing. Yes they do. Mortgage
refinance numbers out this morning in America up ninety four
percent on a year ago. Six twenty one. Your News

(12:02):
Talk Safely.

Speaker 1 (12:07):
Cool, the my Casking Breakfast full Show podcast on iHeartRadio,
powered by News Talks.

Speaker 10 (12:14):
It be right.

Speaker 3 (12:15):
Research departments trying to get to the bottom of the
Foreign minister quitting it. It's the big reshuffle. He's zelensky an,
what does that.

Speaker 11 (12:21):
The autumn will be extremely important for Ukraine and our
state institutions must be set up so that Ukraine achieves
all the results. We need all of us to do this.
We need to strengthen some areas of the government and
we have prepared personnel decisions. There will also be changes
in the office. I'm also counting on a slightly different
weight for certain areas of our foreign and domestic policy.

Speaker 3 (12:43):
Changes in the office. I must be serious by the way,
he's quit, the foreign minister's quit, and they've got a
vote on all of that. So that's going to unfold
over the next ten hours or days. Pretty patill I said,
I get to the numbers on the Tory rice if
you're interested in this. Pretty Betel's gone first round of
voting generic keep and I on that name. There's a
lot of buzz around him. He actually won the first

(13:04):
round twenty eight votes, bad not twenty two, cleverly third
on twenty one two and hat rodzold mate seventeen, mels
Stride at sixteen. Pretty Bettel came in last at fourteen.
So what then happens is they keep going basically until
there's two left, and when there's two left, goes to
the party membership six twenty five.

Speaker 1 (13:25):
Trending now with these the home of big brand cosmetics.

Speaker 3 (13:29):
Today we are in Canada with photo ops gone wrong.
PM Trudeau. He's visiting al Gooma Steel in Ontario. He's
handing out donuts to tout the government's new tariffs on
Chinese imports. But one steel worker not that impressed.

Speaker 1 (13:43):
The twenty five Paris we just ride down on Chinese scales.

Speaker 4 (13:45):
Can't help you out.

Speaker 2 (13:47):
Jobour hundred.

Speaker 4 (13:51):
Then, and they don't have a doctor.

Speaker 2 (13:53):
The four hundred million dollars invest in. That's the character.
You're going to have a job.

Speaker 12 (13:58):
I think you're here, won't see her. I'm probably that's
that's what the actually is for.

Speaker 13 (14:02):
That's right, that's great, and I look forward to everyone
expectation to rate the boat.

Speaker 2 (14:06):
Ye, the basic choice. We're going to.

Speaker 14 (14:08):
Invest in you in your job, and we're going to
believe you.

Speaker 2 (14:10):
For a second, dental care.

Speaker 12 (14:13):
Do you know anyone who got dental care?

Speaker 4 (14:15):
Yeah?

Speaker 12 (14:15):
I pay for him herself.

Speaker 13 (14:16):
Okay, you're not really moving anything for us.

Speaker 2 (14:19):
Just well, actually we just invested so happy million. People
haven't been to the dentist.

Speaker 14 (14:24):
I like to go to the dentist off of the past.

Speaker 7 (14:25):
Probably like my neighbor that doesn't want to work because
she's lazy.

Speaker 2 (14:31):
He has tried to step up to each other and
then we'll go too. Yeah, good luck and.

Speaker 3 (14:34):
Pure he got them. I mean that is so Canadians
have as a boot. Anyway, he got himself out of
there eventually.

Speaker 15 (14:44):
But you guys sounded like the Canadian Mike Hoskar is.

Speaker 3 (14:46):
This the steel worker is right? He is toasted, There's
no question about that. You remember he went early during
COVID as the the ultimate opportunist, and there were lots
of people during COVID. I thought, I'm going to go
for an early election so I can get in a
majority because he runs a minority. And he got back,
but he never got his majority. So I think as
time basically is up, let's talk vegetables after the news.

(15:06):
Which is next.

Speaker 1 (15:10):
Setting the news agenda and digging into the issues is
the Mic Hosking breakfast with Alveda Retirement Communities, Life Your
Way news talk, said.

Speaker 3 (15:19):
B Yeah, who yesterday, having asked for forgiveness over the
business of the hostages, has now gone on the front
foot with the international media and the global community in general.
Today he's got out his pointer and he's got a map.
Not that you can see that, but he is standing
there with a pointer and a map explaining why we
don't understand what's really going on here.

Speaker 14 (15:38):
That's the Jordan River to the sea, the Mediterranean sea.
So when Commas is talking about liberating Palestine from the
river to the sea, basically what they're saying is destroyers them.
And the entire width of this is probably around the
width of the Washington batweight. It's all together, it's widest

(15:59):
point about fifty mins right here.

Speaker 3 (16:02):
Yeh here it is meantime, probably more pressing matters. Although
not unsurprising, Merrick Garlands night Side has found out that
there are some bad actors when it comes to the election.

Speaker 16 (16:13):
RT and its employees, including the defendants, implemented a nearly
ten million dollar scheme to fund and direct a Tennessee
based company to publish and disseminate content deemed favorable to
the Russian government. To implement this scheme, the defendants directed
the company to contract with US based social media influencers

(16:36):
to share this content on their platforms. The subject matter
and content of many of the videos published by the
company are often consistent with Russia's interest in amplifying US
domestic divisions in order to weaken US opposition to core
Russian interests, particularly its ongoing war in Ukraine.

Speaker 3 (17:00):
In theirs of the election game, here we go again afterward,
Lee and Joe mckennash. Shortly, we've got some really weird food,
a lot of shocking crime and some scandal around the
culture minister. It's a busy morning meantime back home, what
did we get out of our first supermarket report from
the Grocery Commissioner. Well, he doesn't like to look at
the market. He claims the margins are up and the
profits are too high. He's talked about tools and how

(17:22):
to use them. Anyway, Vegetables New Zealand share John Murphy's
backward This John, very good morning to you.

Speaker 17 (17:26):
Good morning Mike.

Speaker 3 (17:27):
Do you have a view on the report?

Speaker 17 (17:30):
Oh, look, it would be great if grow has got
more of a slice of the pie given the commercial
risk that we take and right now we're doing it
pretty tough. But I think better market information would help,
and including trade spends in the information that comes out.
But ultimately we need to work with supermarkets to get
more vegetables on kiwis plates.

Speaker 3 (17:51):
Right, the view of the market isn't broken as it's
being suggested. It is Is it any different this year
than it was last year? And this bloke started his job.

Speaker 17 (18:00):
Look at early days for the Grocery Commission and I
don't think you can magic a transparent market out of nowhere,
and so as I say, I think it's about better
reporting and better information so that the market can function properly.
I don't like the idea of market intervention in the
wholesale market necessarily. I don't know that that will lead

(18:22):
to a more dynamic market that people are talking about.

Speaker 3 (18:25):
Who would interfere with it? And how would they interfere?
Do you have any understanding of that, because I don't.

Speaker 17 (18:32):
Look, it's really hard to see what that would look like.
But I think the reaver you have government intervention, you've
really got to be careful that the real world outcomes
are a benefit to consumers and also to produces.

Speaker 3 (18:44):
See the difficult part that you're in, as far as
I can work out, and you're involved in the inflationary
numbers and stuff. If it rains a lot or doesn't
rain a lot, you're directly affected by the amount of
stuff that you can produce. The amount of stuff that
you produce affects directly the price a lot of that's
beyond anybody's control, isn't it.

Speaker 12 (19:01):
Correct?

Speaker 17 (19:02):
And look, we do everything we can to be more
productive every day and to deliver more fresh vegetables to
New Zealanders. That's our job. How the market operates beyond
the farm gate. That's very important to us and as
a part of our cost structure, but that we're really
focused on what we can do ourselves and look at it.

(19:22):
It's good to see supermarkets committing to initiatives like five
plus a day and need one more vegetable. We went
summare that, But I think that more information is really
the key here.

Speaker 3 (19:35):
All right, good insight, John appreciated very much. John Murphy, Vegetables,
New Zealand Chair, nineteen minutes away from seven. I've got
a beef and lamb report that I'll come to shortly.
It's the new season outlooks. They use the word green
shoots and I look through it and I thought, where
are the green shoots. I've got one green shoot. The
rest looked like dead weeds. But I'll come back to
that in the moment. Mike, I'm a supply at grocery.
My biggest concern is not the retail pricing. We're a

(19:57):
small population and a small market. It's to have to
make a buck in any industry. My concern is how
they negotiate on price. They're bullies and they threaten deletion
when a supplier doesn't meet demands for a drop in price,
even when their current price is the best in market.
When that is addressed, and it has gone on for
forty five years I've been in the industry, we may
see improvements in retail pricing. Well, if what you say
is correct. And this is you're running me the age

(20:18):
old line that you come up with your truckload of
potatoes and they go pay your dollar, and you go,
I'd really like a dollar twenty and they say take
it or leave it, and we're big and you're not,
and so go away. How do you change that? And
the argument is if another player arrived in town, they go, actually,
I'll give you a dollar twenty, so you off to them.
Is that really how it works for You're going to

(20:38):
need old Pierre to be the Tzara of potatoes and
tell you how much a cost of potato is. And
if you're going down that track, why don't you just
call yourself North Korea eighteen two The.

Speaker 1 (20:48):
Mic Hosking Breakfast Full Show podcast on iHeartRadio powered by
News Talks AP.

Speaker 3 (20:54):
Let me just give you some polling if you've missed
it this morning, out of America average, fifteen percent of
likely voters say they haven't yet food decided on their choice.
I don't believe a word of it.

Speaker 12 (21:03):
I do not.

Speaker 3 (21:04):
Believe there's a single person in America who hasn't worked
out whether or not they're going to vote for Trump
or Harris. They might not know whether they're gonna vote
at all. I can accept that. But to say it
could be Harris, Oh no, it might be Trump, what bollocks? Anyway.
So here's the polling this morning from CNN Wisconsin fifty
forty four to Harris Michigan forty eight forty three, Harris

(21:27):
Arizona forty nine, forty four, Trump, Georgia, Nevada forty eight
to forty seven for both states to Harris Pennsylvania locked
in at forty seven, couldn't be tired at six forty five.

Speaker 18 (21:40):
International correspondence with ends an eye insurance, peace of mind
for New Zealand business automatically.

Speaker 3 (21:45):
Joe McKennon, very good morning for you, good money make
So these are so, first of all, this is dreadful business.
So a seventeen year old killed his entire family allegedly.

Speaker 19 (21:54):
Yeah, I mean, it's just crazy stuff. And as we know,
Italy is a country where the family unit is totally revered,
even more so than everywhere else in the world I think.
And this seventeen year old stabbed his mother, father, and
younger brother to death and this occured just in a
town on the edge of Milan. Police said that he

(22:16):
felt extraneous. They used the word extraneous to his family
and killed them so that he could be free. The
Prime Minister's spoken about it. Maloney said that the triple
murder was beyond imagination and the papers have been filled
with analysts saying parents in Italy giving their kids everything,
but failing to listen to them anymore.

Speaker 3 (22:35):
Wow, at seventeen, does the treatment by the judicial process
making the difference there or not?

Speaker 14 (22:42):
Ah?

Speaker 19 (22:42):
Well, they haven't named him, so he's going to go
through the juvenile system, so we're not getting it quite
as much information as we might if he was an adult.

Speaker 3 (22:50):
And then we get the woman who was stabbed by
the son of an African migrant. So that's the whole
migration argument back up again.

Speaker 19 (22:56):
Yeah, but this one was also very very strange. This
thirty one year old, who was born in Milan to
African parents, traveled to a small town, eight thousand people.
This woman happened to be taking a late night stroll
around midnight in this town, which is very, very small,
and he just walked down the street and stabbed her

(23:17):
to death. So that's also roped the country as well.

Speaker 3 (23:21):
I'm not surprised the Culture minister. So has he given
this woman a job or has he not?

Speaker 19 (23:28):
Well, he gave her a job and insists that he's
paid her no money from his ministry, the Culture Ministry,
Gennaro's San Giuliano. But an interesting twist just before I
came on air, he's given a TV interview tonight and
admitted to having an affair with this woman and tended
his resignation, but he says the Prime Minister, Georgia Maloney

(23:49):
will not accept it. So everyone's waiting for the next
move here.

Speaker 3 (23:54):
So what, Because, of course you have your cultural moras
are slightly different than otheres around the world. So when
you have an affair with somebody as a minister, is
that in and of itself a sackable slash resignation of
fence or is it the fact he had the affair
plus offered the job.

Speaker 19 (24:11):
Well, I think most people think it might be a
sackable offense. But then I'm not quite sure how rife
it is in government circles. But she's certainly been manipulating
the situation and posting all sorts of things on her
Instagram account thanking him for appointing her as an advisor
for major events. So it's certainly getting a lot of attention.

Speaker 3 (24:31):
As you can imagine, is she famous? Does everyone know
who she is?

Speaker 19 (24:34):
She is now right, And there's about a twenty year
age difference, which also that's interesting.

Speaker 3 (24:40):
Of course there is now this. I don't know what
sort of legal proceedings you can bring against Hines. I've
seen the can, I've seen what's in it. I mean,
it is disgusting.

Speaker 19 (24:52):
Who would want to eat spaghetti carbonaa in a can?
But I mean some people eat spaghetti in a can,
don't they?

Speaker 3 (24:59):
Yes, don't don't to Joe, don't say that. Don't say that,
Like I know you've been living in Italy a long time.
It's beginning in a can. Actually, for many people in
New Zealand is like a welcome thing at breakfast time
in the morning. It's like, is it a hangover cure? No? No,
it's just a welcome peace and you put it on
toast with butter anyway. So is this available in Italy

(25:22):
the Cabanara.

Speaker 1 (25:24):
Not so far.

Speaker 19 (25:25):
I think it's going to be released in September in
the UK. I haven't heard about other countries. But they're
pitching this at young consumers, probably those people in London
who are going pub crawling on a Friday night and
looking for something when they get home. But chefs and
restaurants across Italy are up in arms about this, as
you can imagine.

Speaker 3 (25:42):
I'm not surprised. All right, go well, we'll catch up
next Thursday. Pleasure as always, Joe Jeremy Kenna in Italy
Thursday Mornings on the Mike Hosking Breakfast ten away from seven,
all the.

Speaker 1 (25:52):
Mic hosting Breakfast with a Veta, Retirement, Communities News, togs head.

Speaker 3 (25:57):
Bright, I sit up and pay attention and get a
whole lot of numbers for you glasses. And so this
is Beef and Lamb. First of all, this is their
new season outlook I was alluding to earlier on they
say signs of green shoots. I'll come to what I
find to be a green shoot. Decrease in farm profit
on average, down seven and a half percent, to forty
five thousand dollars. Imagine running a farm, being a farmer,
and at the end of the year, for all your efforts,
for all of the getting up early in the morning,

(26:18):
for all the arduous risk, you're taking your pocket forty
five thousand dollars hard work. Our revenue forecast will increase slightly,
So I suppose that's good news. One point one percent up,
offset by a projected one point eight percent rise and
farm expenditure. Though Chinese economy is still a problem. Lamb
projected to be one hundred and thirty ahead. That's up
one point one percent, still eight point two percent below

(26:39):
the five year average. Mutton throw it in the bin,
steady at sixty dollars ahead, forty six percent below the
five year average. All beef price, here's your green shoot,
five thirty five a kg, four point three percent above
last season and four point eight percent above the five
year average. That's your green shoot. Big demand in the state.

(27:00):
They're saving us. They've got no cows left in America.
Cattle herds at the lowest and seventy years. Export volumes
for our red meat are expected to be lower this
coming season. Lamb down seven, mutton down seven, beef down three.
A lot of that's to do with the drought, so
it is hard yards on the farm. And as they
also point out, and I too often, it's big money

(27:20):
in this country, or should be big money, or hopefully
is big money between dairy tourism and that. That's how
we make our money with the world.

Speaker 2 (27:26):
Right.

Speaker 3 (27:26):
That's just the first seven numbers. Five minutes away from seven, all.

Speaker 1 (27:31):
The ins and the outs. It's the fizz with business
fiber take your business productivity to the next level.

Speaker 3 (27:38):
Takes me seriously, as acquist. Seven to fifteen. More housing
numbers are from core Logic this morning. Wile we got
we've got the home value index that shows values down
August half a percent, which is the sixth straight month
of fall since what we thought might have been a
peak in February. Takes the total fall since feb to
three point seven percent on average, works out to be
a drop in valuation of about thirty one thousand dollars.

(27:58):
Median value of the homes now eight hundred and eleven,
which is seventeen percent above pre COVID, so we're still
on the upside, but at seventeen percent lower than the
peak of Jen twenty two. So it depends on your
glasses half full of half empty. Let's make it half
fall showing apart from christ Church, good old christ Church
up zero point two percent, all all around the rest
of the place down a bit. Auckland down a point
one percent. Value is down down six since January, Hamilton

(28:22):
down point eight, Towering and Wellington and need and down
between zero point one zero point Five's happy, it's worrying
about it. Christchurch's still your best place, though homes are
still up forty point seven percent on pre COVID levels.
You are laughing in the churcher Auckland. What have we
got average prices?

Speaker 10 (28:39):
All?

Speaker 3 (28:39):
We love an average Christ? Don't we a little bit
above a million? In Auckland? Hamilton seven thirty four nine
ten and Towerng and Wellington eight twenty six sixt eighty
six and christ Church? Which is why everyone's moving to
christ Church because you get the city vibe, you get
the international connections at the airport, and you're only paying
six to eighty six on average per house. Who was
I Katie told me someone's moving there yet another person yesterday?

(29:01):
Can't a headresser, could have been a podiatrist, could have
been my certainly my high genus move there since I last.
When I'm going to a new hygienis next week, I'll
tell you how that goes. Oh, I know you don't
want to hear it, but I'm going to tell you anyway.
Dunedin six oh four, Nape You're seven o six, Palmerston
six o four, Hasting six p ninety two, fungar A
seven thirty, Wogan Ui four eight four, Rotorua five nine six,

(29:26):
Gisbon five eight two, Nelson seven eighteen, New Plymouth sixty
seven six, all the six six seventy six and Becago
four seven one. Queenstown one point five to five million,
Queen's Day. See John Trabolta was there yesterday. He's flying
an old plane and it looked too small to come

(29:46):
from America. He landed in Australia. The Australians got excited
as well, in that clickbait way that you know the
tabloid press do these days. But I don't know whether
he brought it from America, but he soon he took
it from Queenstown.

Speaker 1 (29:57):
You're trusted home for news, fort opinion and Mike the
Mic asking Breakfast with the Jaguar f pace cut from
a different class.

Speaker 2 (30:07):
News talk ZEDB.

Speaker 3 (30:08):
Morning seven past seven to a day after the tourist
arrival tax was announced, the press releases flying we find
out this morning two point six billion dollars went into
the economy last quarter from tourism, and annually that's a
number of eleven point six billion dollars. So this is
the government supplying the numbers and then they sprook it
by going that's up seventeen percent on twenty twenty three.
But there's a twist in that that is of course
off a low base irony of ironies. I happened to

(30:29):
be talking to Richard Quest this morning of CNN, who
was reading yesterday about the increases in taxes. So a
view from outside looking in as to what we're doing
with aviation and tourism.

Speaker 10 (30:39):
If I'm flying on a seven, eight, nine, ten thousand
dollar ticket from the US or whatever five thousand dollars ticket,
what difference does it make? It doesn't really that that tax.
But you look at Sweden, which has just taken off
the aviation tax from next year, You've got to ask,
you know, I saw the announcements about the new z

(31:01):
increase taxes. You're going to want guarantees that that money
is going to be ring fenced for the purposes for
which it was intended. But what sort of a message
does it send. What sort of a message does it
send that basically, well, welcome and we're going to increase
the tax for you being here. There are other ways
it could have been done. New Zealand does not have

(31:22):
a god given right to tourism, the tourism increasing a tax.
It's a relatively small amount, but it is symbolic of
a mindset that I think the industry is going to
find and argue very strongly against. As for aviation, gangbusters, Yes,
here's another thing, mike. Aviation, as you know, is its

(31:45):
own worst enemy. It will buy planes, it will put
in capacity, it will fly more seats than it needs to,
until eventually everybody's losing money and they're screaming, well, they
can't do that now because the aircraft manufacturers, both Burning
and US have got serious delays in the uder book,
and the engine manufacturers have got greater maintenance on all

(32:06):
the major models. So the airlines themselves, frankly, are being
saved from their own stupidity by external factors of which
they have no.

Speaker 3 (32:17):
Control asking interesting, isn't it outside looking in? So we'll
have more on that later on. Anyway, where are we
nine minutes past seven? I got more change coming on
the lending money, the banking side of the equation. This
is all part of the overall Triple CFA reforms, of course,
started famously all those years ago by David Clark and
completely cocked up and changed over and over. Anyway, the

(32:37):
Financial Market's Authority is said to become a one stop
regulatory shop. They will look after licenses to ensure consumers
have looked after as well. Banking Association hit Roger beaumonts
with us on this's Roger, very good morning to you.

Speaker 20 (32:48):
Oh good morning, Mike, thanks for having me.

Speaker 2 (32:50):
Not at all.

Speaker 3 (32:50):
This strikes me as sort of back room stuff that
the average punt are looking for a mortgage wouldn't necessarily
know or care about. Is that fear or not?

Speaker 10 (32:58):
Oh?

Speaker 20 (32:58):
Yes, I think they will be minimal impact frontline customers
on this, But I mean this is part of a
further theories of changes that the Minister has been making
to the Triple CFA, which, as we've talked about numerous times,
has been a source of pain and difficulty for both
and fan customers trying to get lending.

Speaker 3 (33:17):
Okay, so does it improve things at your side of
the equation?

Speaker 20 (33:22):
Yeah, well, I think one of the ready key changes
the Minister now for last night is that the personal
liability for managers and banks will be ditched. And what
that means is that managers were potentially subject to a
two hundred thousand dollars fine if they breached the code.

(33:43):
And just to give you an example of how draconian
this has been, either the bank or the manager themselves
personally was prevented from taking out insurance to protect them
from that fine. So it was a really strict regime
that I think had some unintended consequences on lending approaches.

Speaker 3 (34:02):
Is the FMA generally up to running all of this?

Speaker 21 (34:05):
Now?

Speaker 20 (34:06):
Look, we support the twin peaks model that Minister Bailey
has introduced, which means basically you've got two key regulators
in the financial services sector, one being the Reserve Bank
on financial or crudential matters and the FMA on conduct matters.
And anything that simplifies and clarifies what that monitoring process
is is a good thing.

Speaker 3 (34:27):
Have we got there? At last? If you go back
to David Clarkin's various massinations and ideas and thought bubbles,
and to where we are now is this it?

Speaker 20 (34:36):
Well, look, there's a lot of detail that we haven't
seen yet, so we need to work that through. And
once again the devil is always in the detail. But
the Ministran announced this at a function last night, so
we need to get our heads around what the detail
is and then we'll be able to comment more fully
on that question.

Speaker 3 (34:53):
Appreciate time. Roger bymot Out of the Banker's Association twelve
and it's past sevensky. Speaking of tourism. By the way,
as we were a moment ago, we have been named.
You'll be pleased to know the leading destination air New
Zealand is the top airline and the Oceania section of
the World Travel Awards, the WTA Awards. This is very
prestigious as far as awards go. We took it back

(35:13):
off Australia. We've held on to it for the four
years running until we lost it to Australia last year,
got it back this year. First held at nineteen ninety three,
New Zealand has confirmed its reputation as the land with
it all other nominees Fiji, Papua, New Guinea, Sama and Tonga.
So I don't know about the quality of the field.
Not insulting them, but I don't know about the quality

(35:34):
of the field. Leading airline in the region for the
sixteenth rod and rowed in New Zealand, top airline in
Oceania since twenty nineteen and indeed in Australasia. Well done
US thirteen past seven.

Speaker 1 (35:47):
The like asking Breakfast Fall Show podcast on iHeartRadio powered
by News Talks B.

Speaker 3 (35:53):
You know my fascination with the carbon market in this
country and the auctions that we've held in the complete
and utter cluster that we've had up until now, and
yesterday was another they changed that. The government came on
this program and they said we're going to change it
and we're sorting things out and you watch what happens. Well,
what happened yesterday was nothing. So anyway, we'll talk to
the minister about this after seven thirty men times back

(36:13):
to the tourism. So they're spreaking. The government seventeen percent
increase in expenditure two point six billion for the last quarter,
which annually makes it eleven point six billion, which is
all fantastic. Anyway, The Minister Matt Doosey's with us. Matt,
morning to you, mording Mike directly after. I mean, is
this a deliberate strategy with you guys? You annow to
a big increase in the levee and then the next
day you put out a press release saying, look, how
well we're doing. Is that a plan?

Speaker 2 (36:34):
Is it?

Speaker 19 (36:35):
No?

Speaker 22 (36:35):
No, they weren't connected, but it is good news as
our tourism sector bounced back. But who I need to
listen to is actually the tourist operators on the ground.
As I get around the country, they're all telling me
they've got a high yielding product, They're delivering a better
quality experience, and I think that's to be celebrated.

Speaker 3 (36:53):
Yep, no question about that. But seventeen percent up is
off a very low base though, and that's the reality
we've got to deal with, isn't it.

Speaker 22 (37:00):
Well, when you look around the world, there is some
tough economic edwinds. We've bounced back to about eighty five
percent of value from pre COVID level, and like I say,
the mood is upbeat on the ground and we want
to support that. As a government. We want to grow tourism.
We really want to back its past tourism in set
with an ambitious goal to increase the value of international

(37:23):
tourism by five billion over the next four years. And
I think we're on track.

Speaker 3 (37:27):
No, you're not, because here's the reality. Have you looked
to what's been happening in Europe matt over the summer
period in terms, none of them are at eighty five percent,
They're at one hundred and eighty five percent. They've got
so many tourists in that part of the world that
the locals are spraying them with water pistols and telling
them to go home. No one's doing that here. Something's
gone wrong with this country. Don't you agree with that?

Speaker 22 (37:46):
Well, I think you've answered your own question, to be
quite frank, Mike. When you look at the surveys for
New Zealanders, ninety three percent report that they see the
value of tourism to New Zealand. We's got huge social
license for tourism. I want to maintain that. When you
look at the International Visit to survey, ninety four percent

(38:08):
of our visitors report that their trip has met or
exceeded expectation. So what we're seeing is New Zealand is
are happy with tourism. Our visitors are happy and the
value of tourism is growing year on year, and I
think we should support that.

Speaker 3 (38:23):
Matt, you're missing the point completely. Asking a tourist who
came here whether they had a good time is fine,
and I'm glad they did. But you need four more
tourists that didn't come to get the numbers back to
where they were because we're not making the money we
once made and we need to.

Speaker 22 (38:39):
Well, I just don't think we should have a direct
comparison of bums on seats pre COVID bums on seats today.
It's clearly about the value of tourism, the value it
brings New Zealand as an economy. Well, at the moment,
we've increased by half a billion dollars in the quarter
compared to the quarter last year.

Speaker 3 (39:00):
Given the top of low base. Man is Look, I'm
not blaming you because you've only been there five minutes.
What I'm telling you, and what I know for a fact,
is capacities back the seats aren't full China. I get
that's an individual story. I understand that, but we are
not competing internationally with other countries that are back doing
as well, if not better than they used to. We're
simply not doing that. Well, why are we denying this?

Speaker 10 (39:22):
Yeah?

Speaker 22 (39:22):
I don't think it's about blame, Mike. I think we've
got the trend line going in the right direction. Our
tourist operators are upbeat. You look at Hawk's Bayo's at
recently the value of their international tour as that is
forty percent above pre COVID levels West Coast and the
South Island fifteen to twenty percent. So what we're seeing
is tourism with a higher yield, a better quality experience,

(39:45):
and that's what we want to support.

Speaker 3 (39:47):
All right, Man, I go, well, appreciate it very much.
Matt Douci am I am I the outlier here? Am
I the only one who's bothered by this? And everyone
else thinks it's fantastic, sitting at eighty five percent of
what it once was in you know, Wahu or Matt
is Matt right? By the way, Mike, I totally agree
with the supermarket issue. It's the same as the airline
industry here in New Zealand. I was involved in the
logistics industry. I never got over the huge infrastructure involved

(40:09):
in keeping these supermarkets full of food. We're hugely hampered
by what you said. We're a small country, a five
million spread all over the place. If we were spread
over the size of Singapore or had the same population
as England or Japan, then the efficiencies would flow. Thank you,
Colin twenty past seven.

Speaker 1 (40:25):
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ad By News.

Speaker 3 (40:30):
Talks it be question how much value do you place
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(41:12):
So to find out more about the RVDA community, and
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Are Veda r VDA, r VEDA dot co dot NZ
asking now seven twenty four. This week's compulsory reading is

(41:33):
the Standard and Poor's report came out yesterday s and
p into our economy some headline gems for you. Our
standard of living is going backwards. Our current account deficit
is one of the highest in the world. The level
of debt our councils carry is some of the highest
in the world. The weak economy we currently have poses

(41:54):
a risk. So is this the report? I mean, are
these the numbers that once and for all hammerho the
dangerous reality of that Labour government seventeen through twenty and
twenty three twenty three? Is this the report, the cold
hard reality and reckoning that alerts the various councils around
the country that their approach to money is not normal,
not good, not productive and could potentially sink us. On
average council's debt is at one hundred and eighty percent

(42:17):
of gross operating revenue. It is forecast arrived further to
a cap of three hundred and fifty Places like Tarong,
Hamilton and Queenstown s and p report are at over
two hundred percent right here, right now, rising to three
hundred percent. That is the highest, I repeat, the highest
anywhere in the world at a national level. The current

(42:37):
account deficit small clue. You don't want to actually even
be running an epicite at all. You want a surplus.
In other words, you want to sell more stuff to
the world than you buy from it. Anyway, ours is
six point eight percent of GDP. That is, you guessed
it one of the highest in the world. Irony that
six point eight percent, by the way, is lower than
it was. There are those who will still defend this

(42:58):
level of ineptness and destruction. They will argue all this
stuff they need to fix. And indeed there is but
the Fife demera of councils up and down this country
as they moved away from rubbish and booms and into
road cone, cycle ways, social housing and garification was paid
for by debt, and debt costs money and every year
as the interest bill rises. It means we do less

(43:18):
than we want, and every year we buy more or
buy more from the world than we sell to them.
We're going backwards. The end of that particular road, by
the way, is called impobishment. It's third world status. It's
the inability to make your own decisions and chart your
own course because someone else is going to do it
for you. This, of course, has been building for years,
and not enough of us have heard the alarm bells
or indeed cared. The ignorance and lack of interest might

(43:40):
well in the end sink us pasking shooting, as we've
been reporting in Georgia this morning. It could be the
alleged killer could be as young as fourteen, or the
alleged shooter could be as young as fourteen. Harris is
on the campaign trail in New Hampshire and she's reacted.

Speaker 13 (43:55):
We had, well, I grew up in California earthquake drills,
we had fire drill. But our kids are sitting in
a classroom where they should be fulfilling their God given potential,
and some part of their big, beautiful brain is concerned
about a shooter or busting through the door of the classroom.

Speaker 2 (44:17):
It does not have.

Speaker 13 (44:18):
To be this way.

Speaker 3 (44:22):
It does not have to do this way cosking ay
that is she sounds exactly like Obama did a decade ago.

Speaker 21 (44:28):
Eh.

Speaker 3 (44:29):
Any thoughts on this wrought mic watercres secret twenty million
dollar deal. Let me come to that, yes, of course
I do. Let me come to that after seven thirty
four year. Before that, we'll need to get to the
climate market, the carbon market, the carbon auction market. So
just to bring you up to speed, if you don't
follow this four auctions every year, the idea is you,
as a polluter, go to the market and you go,

(44:50):
I'm going to buy me some credits. By buying you
some credits, what you can do is you can offset
your pollution. So the idea was that they raise all
that money and they throw it into the ets and
the government can raise up to two billion dollars a year, unless,
of course, no one shows up, because why would you
want to buy a credit when you have no idea
what the government are doing when it comes to climate
and carbon generally, and they keep changing the rules all

(45:11):
the time. And so what has been happening over the
last couple of years is auction after auction after auction,
no one does turn up, and yesterday was the same.
No one turned up with the third option of the year.
No one at the auction means no money for the government,
and you already know what the story with money is.
We don't have any.

Speaker 1 (45:26):
The newsmakers and the personalities, the big names talk to
like my Costing breakfast with Bailey's real Estate, your local
experts across residential, commercial, and rural news talks had been.

Speaker 3 (45:39):
You're regularly you might remember. I started talking about the
possibility of some green shoots and light at the end
of the tunnel and a bit of a vibe around
the economy in this country once Adrian Or did what
Adrian Or did the other day. And I'm picking by December,
by the time we walk into Christmas, we're going to
be feeling pretty good about ourselves. And I was just
trying to work out what the relationship is between the
Reserve Bank and a singular move, or the inference from

(46:01):
a reserve bank of a singular move with more to come,
and our psyche. And so we got some insight yesterday
on the retail spending they are calling green shoots as well. No,
it didn't go up retail spending in August, but it
wasn't as bad as July, so that's about where we're
at at the moment. Two point eight nine billion was
spent in August, which is down zero point five percent,
but it was down two point six in July. So yes,

(46:21):
a drop, but not as bad a drop, so we
might be heading might be heading in the right direction.
One of the people I was reading about the interest
rate change is from the Reserve Bank a quote very
very strong psychological impact across all sectors, all sectors, more
people expressing interest in renting retail premises. That's at a
commercial level, so that's good in general terms. We have

(46:44):
seen a shift in psyche across the country, so we
will take that twenty two to eight name Lisa Carrington
is in the studio after eight for a catch up,
so we'll look forward to that. Meantime. We find out
yesterday it turns out this government's no better at running
carbon auction than the last one. Yesterday's action got exactly
nobody is so millions will credits get dumped into the

(47:04):
final December auction and the government yet again misses out
on millions of dollars. Climate Change Minister Simon WATS is
with a Simon morning to.

Speaker 23 (47:11):
You, Morning Mike, thanks for having men not at all.

Speaker 3 (47:14):
Do you remember being on this very fine program on
June twenty.

Speaker 23 (47:17):
I do, Mike, and you know the reality is the
changes that we put in place are coming into effect
next year. The fact the auction not clearing is not
a sign that the auction is not operating effectively. Actually
it is the effectiveness of the ATS scheme is not
deemed by those auction outcomes. But our in my job
is to make sure there's credibility in that market and

(47:37):
we're seen affirming up of the prices, which is the
direction we need to see it.

Speaker 3 (47:41):
Heading As regards credibility, I've got a good question for
you in just a moment, But let me remind you
of what you said on June twenty.

Speaker 24 (47:47):
What I am focused on is making sure we've got
a credible market. Hence why we stopped the review that
the current the last government had in play. While we've
been putting through what we think is from pretty sensible changes.
But the big key aspect is the release of our
emissions reduction plan.

Speaker 3 (48:01):
So when we talk about credibility, what's credible about an auction?
We know and turns up well.

Speaker 23 (48:06):
The credibility the areas is that the auction price for
the enzu was pretty much reasonably low and was floundering
for a period. We took out a number of the units.
It's a supply and demand marketplace. We've taken out supply
from that market and that''ve seen the overarching price firm up.
But you know, the end of the day, there is

(48:27):
another secondary market where people can buy units and that's
trading effectively, So there's pretty liquidity there at the moment.
But next year, when those units get taken out of
the market, then you know, we'll see what happens in
terms of the overarching.

Speaker 3 (48:40):
Auction What if nothing happens, Well, look, if.

Speaker 23 (48:43):
Nothing happens in the markets operating effectively, people can get
units through the secondary market. People are doing that. That
market's trading with some good liquidity at the moment, which
is positive, and you know, we'll see where that price
point goes. It has increased.

Speaker 3 (48:58):
If people only want to trade through the secondary market,
what's the point of your market.

Speaker 23 (49:03):
Well, our market brings more supply into the market if
it's required and at the moment, but it's not well
at the moment, there's enough supply out there for the
people that want those units, and you know that's that's
what's happening.

Speaker 3 (49:17):
You see, you sound like a guy who's sort of
I mean, I agree, I mean what the previous government
did was ridiculous, but it's very core here. What you've
done is not you specifically, but generally. We've invented something
that doesn't exist, ieu carbon market, and we're trying to
convince people to give you money on something they may
or may not want to buy into. And as far
as your versions concerned, they don't.

Speaker 23 (49:39):
Well, the purpose of the market is to reduce emissions.
It's not to create revenue for the government. That is
a byproduct of the market. So the objective for me
as minister is ensure that that marketplace is operating in
a credible manner. The more less be clear. When government
starts dabbling with markets, bad things happen, which get the

(50:00):
hands off the steering wheel.

Speaker 3 (50:02):
Silent you're part of. You didn't invent it, but you're
now running something that people don't want and you're interfering
with the market, which you've just admitted is not good.

Speaker 23 (50:12):
No, it's definitely not that people don't want it. It's
an active secondary market out there at the moment. But
what we've done is we dealt with the issue that
the market have identified, which is oversupply, and we've taken
that oversupply out of the market from next year and
we believe that that will provide stability in that market
for people to trade.

Speaker 3 (50:31):
Okay, part of the problem, and the argument wasn't the
previous government is worth the government keep coming into the
market and interfering and changing the rules. What that does
is provide uncertainty. And the worst thing you want is
a person who might purchase a carbon credit is uncertainty.
And you've just provided more uncertainty. And look how many
people turned up And the answer is no one, No.

Speaker 10 (50:48):
We haven't.

Speaker 23 (50:49):
I've been really clear, and that the uncertainty came from
the last government saying we're not sure if forestry is
going to be in or out of the ets. I mean,
forestry is a thirty forty year investment horizon. That utility
just sent shockwaves through the system. We've been really clear
forestryes are removal as part of the model that we
do to reduce emissions, and that's part and partial of
that marketplace. And we've been very clear, and I've had

(51:11):
some very positive feedback back from the sector. We appreciate
the certainty that you're putting into that market and the
markets operating as it should do it them.

Speaker 2 (51:19):
Ok.

Speaker 3 (51:20):
So can you say and directly connect the two. Can
you say, our emissions as a country are dropping, and
if they are dropping, it as a direct result of
a market working nicely in the carbon credit sector.

Speaker 23 (51:32):
The ETS is definitely playing a role in regards to reduce.

Speaker 3 (51:36):
The ETS is the big picture. The carbon market is
part of the ETS. So is the carbon market providing
to a direct reduction in our emissions? As is the plan.

Speaker 23 (51:46):
It is, there's the objective of that overarching marketplace is
providing the tension required between those that produce emissions and
those that you know, we need to be able to
reduce it. And that price point is allowing that that
trajectory of missions reductions to come down, which is where
we need to get to. But we're aiming for twenty fifty.
This is a long period of trajectory and you know,

(52:11):
we've just got to be stable and calm and just
let it, let the market do what the market needs
to do, and not continually try and you know send
signals to the market that causes volatility for sectors like
the big players that you know it is not helpful.

Speaker 3 (52:26):
Oh come, I'm good to talk to you. Appreciate it. Simon,
what's the climate change minister speaking? Which sixteen minutes away
fromote paskings quickly? I think I called it. Volvo have
announced overnight globally that their plans to sell only electric
vehicles by twenty thirty is now off. No kidding. They've
abandoned the near term goal of selling only electric vehicles.

(52:47):
They need to be quote unquote pragmatic and flexible. That
would involve putting an engine in the front of the
car the way they always have and they I mean
it works it out.

Speaker 1 (52:56):
Sixteen to two the Mic Hosking Breakfast Full Show podcast
on iHeartRadio powered by News Talks.

Speaker 3 (53:03):
It'd be morning, Mike. What I think we can take
from Simon's interview, and especially the last paragrapher, is that
he knows full of while he's flogging a load of crap,
and they need to be seen to be doing something.
He also hopes that twenty fifty will have bigger things
to worry about. By then, there will be very few countries.
Not this is mill not that it's a big one,
but there'll be very few countries that ever get to
be zero unless there's some sort of maps massive scientific

(53:24):
breakthrough between now and then. Most countries won't make the
zero by twenty fifty. And I think increasingly as each
year passes, we all understand it. Don't mean we like it,
but we understand it. Right to Watercres, is this a scandal?
Very good work yet again by Kate McNamara, who's I
don't know what they pay her at the Herald, but
she owns every cent and then she probably deserves a
pay rise. But anyway, Watercres twenty million dollar deal with

(53:46):
EWE Murky benefits to ratepayers. So water Care this goes
back to when water Care. This is the Auckland water people.
They had to go down to the Whykatta rivers, so
can we pull more water out because we haven't got it,
because we haven't built up dams because we useless so
it didn't rain, didn't have enough dams. Go down to
deal with the people at the Wycata River pull more
water out of the Waycata River. So we all remember

(54:07):
that because we're all angsty about it at the time
water Care agreed. It's revealed now to an additional payment
of twenty million dollars related to its water take without
the knowledge of the ratepayer negotiator with EWE December last
year agreement relating to relationship matters. It's the category it

(54:28):
falls under a million bucks a year for twenty years
to fund water related research and environmental projects. The agreement
was not disclosed to the public. The payments it provides
for are in addition to considerable environmental payments already agreed
to by water Care in twenty twenty two as a
condition of the ascent the consent. So they did all
of that. So if you're looking at that, going oh yeah,

(54:49):
but fair enough, it's environmental, but they already cut the
environmental part in the part that we knew about way
Kato Tai Nui liaison is also a condition, including the
provision for a Tongueta Fen liaison group that provides for
the reasonable costs of two katiarchy advisors guardians to monitor

(55:11):
the water Care water take. So that's twenty million dollars.
So is the scam the fact that they got another
twenty million, and if they got another twenty million out
of them. Do you not go? Actually, good on you,
because if you came to me and you wanted my
water and I knew you were stuffed, I'd ask you
for twenty million as well. Or is the scam that
they paid the twenty million and they didn't tell anybody

(55:33):
about it, and of course you know full well who's
twenty million. It is good to know that business is
above board in this country, isn't it. Ten minutes away
from eight, the mic.

Speaker 1 (55:42):
Hosting breakfast with the Jaguar f Base News Talk said
b s living.

Speaker 3 (55:46):
Away from it could be like the good old days.
The CEO of South African Rugby's let's slip plans involving
in All Blacks tour in twenty twenty six, so you'd
have three tests, eight match tour in twenty thirty. The
box may even come here, so it's exciting. Former All
Black Josh Cromfeld's with us on this Josh Bonney Morning.

Speaker 17 (56:01):
You like it, Yeah, I think so.

Speaker 21 (56:04):
I think. You know it's it offers a change up
again on the current system and you know there's something
from from the heritage of of of the relationship between
South Africa and New Zealand and be kind of nice
to have, you know, a tour system that's a little

(56:26):
bit you know, maybe like the Lions traveling, and just
that that that that that sort of four year cycle.

Speaker 3 (56:35):
The world South Africa, because you wouldn't want a three
test eight match to a Fiji or Australia at the moment,
would you.

Speaker 21 (56:42):
No, Well no, but it is because it is South Africa,
you know, like it's They're a fantastic rugby nation. They
live and breather, They're a lot like us in that respect.
And then the internal games because I mean, I don't
know the logistics yet, but you to assume if if
there's a three or four tests over there, there'll be

(57:05):
midweek games and it means that you get to play
either maybe some of the franchise teams that are playing
over in uk or or the traditional provincial teams that
you know what it used to be. And so that
just that that offers a fantastic sort of opportunity for

(57:28):
our young players who kind on their fringe All Black
and an opportunity to push through into the next fold
and creates competition within the the All Blacks you know program.
It's just it's just it's just nice and then likewise
coming back here, you know, wonderful to have the opportunity

(57:49):
to sneaker a spring block head and you know, as
as a provincial team, it's pretty neat.

Speaker 3 (57:59):
I like the idea that we played the best sides
in the world too. I mean, I suppose out of
last week, are you bullish about this next test? The
second Test in South Africa?

Speaker 18 (58:07):
Oh?

Speaker 21 (58:07):
Look, I'm super nervous. I think, you know, after last
week showed we showed intention and it didn't didn't quite
finish off the way that they wanted it to. I
think will they be able to sneak the start that
they had this weekend? Maybe maybe not. You know, like

(58:32):
I think we caught them a little bit napping and
their system got them through, you know, the way that
they bring on a whole forward pack. And you know,
the questions were asked of our reserves. You know, do
we organize our lineup a little bit and you know,
swap our front row to come on second and you know,

(58:53):
the current one I don't know, Like it's it will
be my games that management that razorwap to deal with
and then and there that's what he's been wanting to do.
He's been wanting the top job and now he's got
that juggle and got a live Yeah, yeah, and yeah.

(59:13):
I mean the pressure's on, but at the same time,
I think they're really capable and it was just a
few mistakes from our reserves that kind of let the
the pressure off. And you know, like this weekend, if
it's those same guys that that won't be happening.

Speaker 3 (59:32):
No, I won't good on you, make good to catch up.
Appreciate it very much, doctor Krinfeld Cornroy Black. Of course,
raisers on the program tomorrow will sort them out. An
worry news for you. In a couple of moments, speaking
of champions, Dame Lisa Carrington with all the medals, next.

Speaker 1 (59:49):
The Breakfast show You Can Trust, the Mic Hosking Breakfast
with Vita, Retirement Communities, Life Your Way, News togs.

Speaker 3 (59:57):
He'd be seven past eight for some the Olympics. After
the event, they're asking what is next to name Lisa
Carrington as one of those people. She may go again.
Of course she may not. Nine medals across four games,
either of them gold. Meantime. Turns out she's an author
of children's book aimed at four to nine year olds.
It's called Lisa Carrington chases a champion. Lisa Carrington's with
us morning.

Speaker 25 (01:00:16):
Yeah, good morning, It's lovely to be.

Speaker 3 (01:00:18):
Here now, Elise Andrews, who we had in the program
a couple of weeks ago. So these are these eclectic questions.
I ask people like you, what's your observation, giving your
experience at the elite end of sport, that most sports
people are elegant, eloquent and together as human beings. What
is it about sport that makes you that way?

Speaker 25 (01:00:41):
I wouldn't not everyone's like that, right, I thank you? No,
I think, I guess as a sports person, and particularly
maybe in New Zealander, if you're working on yourself as
a human, your performance is also unlocked in that way.

Speaker 18 (01:01:00):
Yeah.

Speaker 3 (01:01:01):
And the value then of programs, so rowing, paddling, cycling, sailing,
equestrian at Olympic level has been very good. What weight
do you place on the value of programs to propel
athletes forward?

Speaker 25 (01:01:15):
For I guess in my experience it's the people and
the I guess, the desire to push boundaries, to grow,
to learn, to figure out how just to get better.
So for us program is really that is important. But
also my coach, my teammates, that's a huge importance.

Speaker 3 (01:01:39):
What's the role in your life of the coach.

Speaker 10 (01:01:42):
He?

Speaker 25 (01:01:43):
I guess Gordy he writes the program, he plans our campaign.
It's huge and he's a mentor as well, so he
has a huge influence on my performance.

Speaker 2 (01:01:54):
Has he?

Speaker 3 (01:01:55):
I mean, obviously you grow closer over time. But is
it one of those things if you're the right person,
you can be coached by anybody or is it a
very individual thing?

Speaker 6 (01:02:04):
Yeah?

Speaker 25 (01:02:05):
I think if you're a learner, if you've got to
be coachable, so absolutely you can be coached by anyone.
And I think you've got to really understand what you
need and how people can help you, and that people
aren't there to serve you. That you've got to figure out,
you know, what you can probably do for them. And
I guess have an aligned vision of where you want
to go.

Speaker 3 (01:02:25):
When you get to what you've achieved, what's still coachable?

Speaker 25 (01:02:30):
That's I guess that is the challenge is to make
sure that I still don't believe I know everything, so
I still have to get better technically, physically, So it's.

Speaker 3 (01:02:43):
See I find that hard to believe. Is that just
one of those things you say to yourself just because
what you really want to say is there is no
one better than me. And that's not an arrogant thing
to say, it's just a statement of truth.

Speaker 25 (01:02:56):
Yeah, But I guess there's like what is the what
is the measure of best? Or you'll be like, it's
only your best.

Speaker 3 (01:03:03):
Right gold?

Speaker 25 (01:03:04):
Yeah, I don't know, Like I guess you are competing
against we are competing against people, but what is is
it a world record? Is it your best? So I
think you have to look beyond the finish line or
a gold medal and go Actually, I want to be
I want to be able to do this and every
time you achieve those little things winning a gold medal.

(01:03:26):
If I thought that winning a gold medal was my best,
I would have stopped in London. I would have stopped
after Rio. I would have stopped after So like you've
got to figure out, like what is more? And as
I think you know there's I think you can just
completely learn and grow as a person.

Speaker 3 (01:03:43):
It's got to be more than Do you think you're
still doing that?

Speaker 10 (01:03:47):
Yeah?

Speaker 25 (01:03:47):
I think I've learned so much in the last year.
Every year, like I guess you kind of there's one
of our coaches said, if you're not embarrassed by the
person you were, you're not so like it. I think you.
I think it's like if I look through every medal,
every moment, it's not always about the medals, you know that,

(01:04:09):
they're just they just signify that moment. Yeah, but you know, man,
I just it's got to be more than crossing the
finish line first.

Speaker 3 (01:04:18):
It has to be I just can't work out what
that is though. See, that's that's the person, that's the
fascinating thing. You must be going through that right now, then,
mustn't you.

Speaker 15 (01:04:25):
Yeah?

Speaker 25 (01:04:25):
Absolutely? I think also finishing having done the sport for
this long. It's taken me this long to really perform
and that week of Paris and have like one hundred
joy and satisfaction and racing and I think a lot
of the time I've raced in the past and it's
been out of just needing to win, just because that's

(01:04:47):
the expectation on me. But for Paris, I managed it
to a place where I was like, you know what,
I'm just going to do my best. I love my teammates. Yeah, yeah,
we have given our heart and soul into this.

Speaker 3 (01:04:58):
So but that because I'll tell you what that is
what that is is you've got nothing left.

Speaker 25 (01:05:03):
To prove, or you just don't have to prove anything.

Speaker 3 (01:05:07):
That's what I'm saying. Yeah, no one doubts who you
are and what you're about, so therefore you can truly
enjoy it and be yourself and express yourself in your
case with the pedal.

Speaker 25 (01:05:16):
Yeah, exactly. And I think you can probably find that
in any stage, whether you are going to come last
or come first. But that is probably the hardest thing
to do, is.

Speaker 3 (01:05:26):
Do you want to leave? And I don't want to
ask you tricky questions that you'll squirm over, but do
you just just big picture stuff? Do you want to
have you even thought about it? Do you want to
leave at the top or it doesn't bother you?

Speaker 25 (01:05:39):
Yeah, that's I think you would. I don't know. I
think in sport right now, being in the position I am,
you know, being the fastest I've ever been, strongest, whatever,
it is hard to think, oh maybe I'll stop now,
because well what else is there? So I don't know.

(01:06:00):
Maybe I think, to be honest, it has to be
a different thing. So every olympacts is different. And if
I go to that next stage of life for whatever,
it's almost like you have to it has to be
about something else. So the challenge has to be different.
And so maybe the challenge is so big the next
one that I can't be the best.

Speaker 3 (01:06:20):
All right, listen, hold on more questions in a moment,
and we got the medals in the studio as well.
Thirteen past eight.

Speaker 1 (01:06:26):
The Mike Asking Breakfast Full Show podcast on iHeartRadio pow
it By News.

Speaker 3 (01:06:31):
Talks It Talks At sixteen past eight, Lisa Carrington with us.
Next question, would you still go to the Olympics? Do
you think knowing you're not the best?

Speaker 25 (01:06:39):
Yeah, that's I think that's this is where.

Speaker 3 (01:06:42):
This is where we're at. And do you take advice
on that? Are you one of those people who thinks
that stuff for yourself?

Speaker 25 (01:06:47):
No, I definitely take advice. I really have a you know,
there's a handful of people that I've had in my
life for a good fifteen years that have helped me
get to this point. Yeah, And I think you have
to rely. I think it actually just comes back to
who you are, what you want and am I on
a path that I enjoy?

Speaker 3 (01:07:10):
Good on you, And obviously part of that is the
business of getting up. I assume it's early and paddling
for long hours and doing what you do, which is
the other part I admire so much about you. You
seem to be above all elite athletes who are all
dedicated to what they do that next level up, which
is the you know what you need to do to

(01:07:32):
get to be the best. And there's something in that,
isn't there? Yeah?

Speaker 25 (01:07:35):
Absolutely, and it's I mean it's I guess we you know,
it's compounding interest. So years and years of being at
a high level, you keep adding experience training to the
bank and it just compounds over time. So yeah, I
guess I have a fair bit of ip that I
would just continue to love to share as well.

Speaker 3 (01:07:57):
Where does age fit in and the physical can straints
of age?

Speaker 25 (01:08:01):
I think there's a conception that sport is short, especially
for females, So I am not sure. I think we're
exploring new areas. I don't know. There's not too many
New Zealand Olympic athletes that are over thirty five.

Speaker 3 (01:08:23):
How old are you?

Speaker 25 (01:08:24):
Thirty five? Okay, yeah, you're younger than that. You'll you'll
be thirty nine, yeah, yeah, the next one.

Speaker 3 (01:08:31):
And so is there a group of people out there
that can guide you in that sense that thirty nine
is not a thing.

Speaker 25 (01:08:37):
Or absolutely I think we just you know, like there's
no limit.

Speaker 3 (01:08:40):
I think what will that be made up of? Will
that be made how much of it will be made
up of diet, training, psychology, experience and all those other
bits and pieces versus just the natural Your body does
what your body does and there's nothing you can do
about that.

Speaker 25 (01:08:56):
Yeah, I guess that's what we're learning. Like as athletes,
we are a constant experiment, so data has been gathered
all the time, you know, our sleep data, our training data,
heart rate, etc. So I guess what we're learning is
although there's improvement, it's that when does that improvement stop happening?
And what does that do to is it? Yeah, physiology,

(01:09:18):
is it, mentality, diet, But yeah, there's definitely a play
of I'm sure there's a point where your body can't
do more, but your mind might be able to do.

Speaker 3 (01:09:31):
You enjoy being disciplined, because here's the other thing I
think about a lot, and that is that the discipline.
It's great when you're doing it, but when you do
it all the time, you think, geez, wouldn't it be
great just to blob out for a while and just
let myself go a bit, And you see it the
lot of next athletes who clearly have and I've never
quite got me. But I wonder if are you disciplined

(01:09:52):
naturally so that no matter we you end up in life,
you will be a disciplined person.

Speaker 25 (01:09:57):
Yeah, maybe there's a bit of fear there. If I'm
not disciplined, things won't go well. So I think there's
probably a natural worry that I need to stay disciplined.
But I think you just learn. It's gradual.

Speaker 10 (01:10:09):
Right.

Speaker 25 (01:10:10):
I've figured out for me an equation where I can
be disciplined, but it just becomes kind of daily, So
it's not huge, like you know, you've got to stick
to this routine and got to eat all this food.
It's actually small things that I've developed that make it
easier to turn up fantastic. Yeah.

Speaker 3 (01:10:28):
So, which brings you to As to the children's book,
this is an exercise is about what?

Speaker 25 (01:10:35):
So it's really about the journey of eight year old
Lisa having a goal and the journey of achieving it,
and that comes with little challenges and ways to kind
of come back to it.

Speaker 3 (01:10:50):
Do you seem to message in the book that all
things are possible because one of it, because I'm being
older than you and I'm an old dinosaur and all
that crap. The way that could dealt with these days
perhaps not the way that you were dealt with as
a child, and certainly I wasn't, And that is that
there's a little bit too much leeway about turning up
and not you know, when it doesn't really matter all
that much and stuff like that. Do you send a
message that turning up counts sometimes?

Speaker 10 (01:11:12):
Yeah?

Speaker 25 (01:11:12):
Absolutely, That is one of the messages in the book.
Young Lisa has a friend and she's so she asked
her for advice, and she said, it's just about showing up.
And so, you know, it's about turning up. It talks
about turning up. It's about your parents being that person
that listens to you. There's so many little messages in

(01:11:33):
there from you know, about a little bit about discipline
or having a plan, but also that you know there
are challenges and you have to keep turning up.

Speaker 3 (01:11:43):
Isn't that one of the great stories of the Olympic Games?
And we saw it recently in Paris. Is everyone had
a mum or a dad, or an uncle or an auntie,
and they were all there. It was like, there it is,
this is the moment, and we've all worked towards this
and it's the greatest thing in the world, isn't it.

Speaker 11 (01:11:59):
Yeah.

Speaker 25 (01:12:00):
I think it's really special to be able to share
that with the people at home, you know, that have
come there to what you perform, and particularly like it
went so well for us at the games and so
for you know, across the board, and so I think
you know your parents, they give so much.

Speaker 3 (01:12:16):
Don't they? All everyone does? So this takes you where.
This is the first of eighteen books.

Speaker 25 (01:12:23):
Yeah, I hope to do a couple more children's books.
So at the end there it I kind of shares
it is another journey, so it keeps you on the edgy.

Speaker 3 (01:12:33):
Well, she can have journeys and adventures till forever, can't.

Speaker 25 (01:12:37):
She always too many lessons to learn and relearn?

Speaker 10 (01:12:40):
Right?

Speaker 3 (01:12:40):
Good on you, well, thank you for bringing these glorious
things in. Do you wake them by the way in
terms of importance or moments.

Speaker 25 (01:12:48):
Learnings, feelings? And you know, I guess it's like every
one of those medals, I am kind of am a
different person, more experienced or whatever. So I think, yeah,
they they're all pretty they're all pretty special, but I
mean Paris, the recent ones were amazing.

Speaker 3 (01:13:05):
I'm not surprised. Listen, go well, we'll put the video
up so over and can see the medals in a moment.
Lisa Carrington eight twenty two.

Speaker 1 (01:13:12):
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like Lisa's off to La at thirty nine amazing. Yeah,
she is amazing, isn't she? What an amazing person, he
confirms at second text. What an amazing person I do.

(01:14:19):
I feel more enriched just listening to Lisa for my everyday,
mundane life to be not just a good person, but
to be the best at anything you can be and loving.
I'm glad you like it. Wow, Dame Lisa, What a
woman she is. She's impressed of humble yet driven. What
an example she is setting. Everybody loves Lisa Carrington and

(01:14:40):
there I suggest actually that pretty much everyone loves one
little which is just as well because he's up after
the news, which is next Big.

Speaker 1 (01:14:48):
News fold Opinions. The Mic Hosking Breakfast with the Jaguar
f base cut from a different class news talks.

Speaker 3 (01:14:57):
dB from the Bureau of Investigation and George this morning,
keeping you up to date with what's happened in the
shooting where they got a fourteen year old so we
can't confirm it as a fourteen year old and custody
to teachers are dead. And then we come to the
Grenfell report, which was one of the things we were
talking about earlier on this morning. He yet another one
of these Grenfell reports. The disaster a couple of years ago.
Now report came out overnight. So Deep Kahn of course

(01:15:19):
has commented.

Speaker 26 (01:15:20):
Every single death was avoidable and that's goot wrenching to read.
We're having black and white the chair to the inquiry
and they sat for more than four hundred days, concluding
there was a systematic dishonesty, corporate greed, institutional indifference, neglect

(01:15:43):
and incompetence.

Speaker 18 (01:15:44):
International correspondence with ends and eye insurance, peace of mind
for New Zealand business giving.

Speaker 3 (01:15:50):
The middle of means you can't argue with that. Other
matters in Britain.

Speaker 12 (01:15:52):
Rod morning to you.

Speaker 3 (01:15:54):
Mate, So around one. I gave you the numbers earlier
on patell is out is Patel being out round one
of surprise or not really not.

Speaker 12 (01:16:01):
According to the bookies, slightly so according to me. I
thought she would have had a bit more heft, but
I think that an awful one of her votes will
go to now to James Cleverly, and maybe a few
to Kemmy Badanocky. She's quite a figure, pretty hotel but

(01:16:22):
I think a bit like with Suella Brotherman, people within
the Conservative Party fear that she'd may not necessarily be
a unifying factor.

Speaker 3 (01:16:32):
Okay, so is that about personality or is it about policy?
Are they arguing on how I'm going to lead the Tories?
Or are you just looking guy, Robert? There's old Tom
and he's a dickhead, so I won't play for him.

Speaker 12 (01:16:43):
A bit of both, certainly with Patel, a lot will
be on personality. She is a very spiky individual. I
rather like her to be honest. Kemmy Badanock is less
obviously aggressive and probably probably even more so rooted on
the right of the party. And what we're looking at

(01:17:04):
basically is a long drawn out and boring contest which
will in the end come down to Robert Jenrick who
won that today versus probably Kemmy Badanock, who came second,
and it's kind of lemmy all changed cleverly, but you

(01:17:24):
would guess kemmy badenock.

Speaker 3 (01:17:26):
So this guy and me interrupts Sight interrupt Rob because
I try and follow this as closely as I can.
But this guy generic seems to have come a little
bit out of lift or right field. He's been spread
the other day by the TABLOI as I was not.
Is he sort of the force of the future or
we don't know that, We don't know.

Speaker 12 (01:17:42):
That he is on a kind of epic scale more
boring than I can possibly describe in the short time
that we have this evening to discripse this threat is
a very very boring centrist is quite, is quite literality,
is able to speak well. But there is no vision

(01:18:04):
there that I see. You look at Europe and the
way politics is changed in there, and there is no
real grasp within the Conservative Party that they might take
hold of some of that momentum and move forward. Generally,
I think would be the worst of all worlds for
the Conservative Party. And when it comes to a vote

(01:18:26):
of the members rather than just the MP's general will
win among the members, among the parliamentarians, but he will
not win when it comes to the members.

Speaker 3 (01:18:36):
Okay, other side of the house. I was watching PMQ's
and the Parliament. I thought there was interesting about Starmer
was in trouble with the train drivers, giving them all
the money while taking money off the heating for the
pinches and and all that stuff. As regards Angela Rainer
and there's right to buy scheme, where are we at
with that?

Speaker 12 (01:18:53):
Well, she is now in discussions to end the right
to buy scheme, which was introduced by Margaret tacherin nineteen
eighty in the Housing Act of nineteen eighty and led
to what was, to the embarrassment of the left, the
biggest transfer of wealth, the redistribution of wealth in the
history of this country. So suddenly all these working class

(01:19:14):
people who were in social in council housing were able
to buy their own homes, and one of those people,
remarkably was Angela Rainer. But now she wants to stop
everybody else doing it, and it kind of reinforces in
the mind this is the Labor Party, which is, you know,
don't do as I do, do as I say, and

(01:19:36):
there's one rule for us and one rule for you.
And what it did do the right to buy scheme
was enabled poor people to get on the housing matter.
Now the housing matter is ever more difficult to get
onto these days, and now this prop looks as if
it's going to be withdrawn.

Speaker 3 (01:19:55):
OK, give us a quick up date since we've last
talked the thirty licenses of the three hundred and fifty.
This is the weapons exporting to Israel. How's that gone
down in Israel? And what role does the raw that
particular war still play in the Psyche? If your average
Britain on any given.

Speaker 12 (01:20:09):
Day, it's questionable about what role it plays within the
lives of Britain's and what way they tend. What it's
done has hugely annoyed the United States of America. It's
hugely annoyed one of our principal allies in the Middle East, Israel.
And it's hugely annoyed the Jewish community, including the Board

(01:20:30):
of Jewish Deputies in this country. And so in summation,
it is absolutely everything you would have expected an idiot
like David Lammy, who is God knows how our foreign
secretary to.

Speaker 3 (01:20:42):
Have done good only might catch up next week. Appreciate
it very much. Share Rod a little in Thursday morning.
Out of the UK four seventeen to nine, as Luxon
has sort of tweeted out over and out from Malaysia.
This was obviously esday because he's in career at the moment.
I saw a forecast for Korea. Funnily enough, it was
thirty thirty three or thirty five degrees over and up

(01:21:03):
from Malaysia. After a busy couple of days, Next up Korea.
Who then comments on the post elon Musk no less
have to say. I like the New New Zealand PM,
good energy and talks directly to the public. This is
the way, can't argue.

Speaker 1 (01:21:20):
Seventeen to two the Mike Asking Breakfast Full Show podcast
on I have radio powered by News Talks at.

Speaker 3 (01:21:27):
B fourteen minutes away from nine. I'm reading about ACC
yesterday and it's reminded me of my Pool saga. And
I'm not going to tell you about my Pool saga yet,
but it's the similar level of dysfunction so ACC. God
only knows what it's like to deal with ACC. I've
never I've been fortunate in my life. I've never had
to deal with ACC. But ACC have reinstated personal case

(01:21:50):
managers for nearly twelve and a half thousand clients and
this is a u turn on their seventy four million
dollar restructure. And for new clients receiving weekly compensation, they're
giving you an individual case manager. Because gaps emerged. As

(01:22:11):
part of their seventy four million dollar rejig, it was
called next Generation case management. We're announcing today next Generation
case management is going to cost seventy four million dollars
and you won't know yourself. This was started back in
twenty twenty. It was touted as a way to increase productivity,

(01:22:34):
to save costs, to improve workloads, but unfortunately it was
plagued with problems. They had a review two years after
it started in twenty twenty and twenty twenty two, they
had an internal review and it found that the running
cost had almost doubled. So in fact, there wasn't a
lot of saving going on. It's just a lot of
spending going on because the cost had almost doubled. The
benefits to clients. Heaven forbid we bring them into the

(01:22:57):
equation because he gives the monkeys about the clients. For
goodness sake that they they had a look at the clients.
The benefits of the clients were still quote unquote unclear,
So despite the quote unquote teething problems, the new system
was still worth the investment. This was the a SEC
chief executive at the time, Megan Maine. It's Megan still there.
You reckon just a quick google see if Meghan's still there.

(01:23:18):
You know it's well worth the investment, despite the fact
it was costing seventy four million dollars plus all the
extra money, the teething problems they were having and the
stuff that was unclear anyway. Then they had another review,
because why wouldn't you having started in twenty twenty and
then have a lovely review in twenty twenty two. They
had a second review in twenty three last year may
have twenty three, and they found unfortunately it was still

(01:23:38):
not working as intended due to quote unquote gaps between
the quote unquote the blueprint and the delivered product. So
in other words, it was a cockup. Now they've gone
back now to giving you a case manager, which trains
me back to my poll, which once again I'm not
going to tell you the full story at but what
happens when you deal with the council is you don't
have a manager, you don't have a per and you

(01:24:00):
don't have a go to. You don't have a contact.

Speaker 15 (01:24:02):
You don't have a Megan Maine.

Speaker 3 (01:24:03):
You certainly don't have a Megan Maine. She's still there.
She's probably worth getting on. So Meghan, hey, how about
the cock cup?

Speaker 2 (01:24:11):
Well, I've got you.

Speaker 15 (01:24:12):
Can you do anything about my pool?

Speaker 3 (01:24:13):
Exactly? So, you don't have when you do a pool,
you don't have a manager. You don't have a case
person who looks after you in any way, shape or form.
What you do in all communications. First of all, you
can't ring them. It's not allowed, So you must email them,
and you email all information any questions you want to
a pool. It's the pool email, and it sits in
the pool for and that's not a joke, by the way.

(01:24:35):
It's not literally a pool. It sits in the pool
of emails for days on end until like Sue's board,
and Sue goes, oh my, go to the pool of
emails and see if there's one for me, pulls it
out and that might be something she's seen before or not.
And anyway she has oh, this is Brian's pool. This
is interesting. He's looking after Brian's pool. Of course that

(01:24:56):
person will be out to lunch and that we know
it in the room. So then she goes, well, I
haven't seen this case before. I need to go back
to the beginning. And that's what happens over and over
and over again, and it's exactly clearly what happened to
acc Every time you had a claim or I wanted
to talk to somebody, you'd ring Brian or Stephen and
they go, well, I don't know anything about your case, mate,

(01:25:18):
I need to go right back to the beginning here,
and let's start from the beginning, shall we? Now? What's
your name? And funnily enough, they've changed that back to
the way it used to be. Nine away from nine.

Speaker 1 (01:25:31):
The costume breakfast with a veta retirement Communities news'd.

Speaker 3 (01:25:36):
Be actually speaking of the old Pierre and grocery fascination.
This business of the Commerce Commission and the merger, I
just don't see it happening. Do you see the food
Stuff's merger? Food food Stuff North and food Stuff South
want to merge. And this has been going on for
ages for most of the year. They put out a
preliminary report and they said they've got a bunch of problems,
and as far as I can tell, they've still got problems.

(01:25:57):
I just in this climate, I think the chances of
that going ahead must be pretty close to zero. Mike
Phizzio forty four years. It's a good job you like that,
John forty four years. Acc has often been a night mere.
Billions have been spent on the likes of this. It
doesn't surprise me. It's to be honest, it just depresses
the producers out of me.

Speaker 21 (01:26:15):
Mike.

Speaker 3 (01:26:15):
Meghan Main was in charge of the managed isolation for
MB during COVID. Was she and Meghan look her up?
Come on quickly, look her up? Was she in charge
and managed isolation or not? I just want to check,
think of fact checking. If you don't like the job,
you can go somewhere else. Mate doesn't matter. There's plenty
of people behind you.

Speaker 15 (01:26:33):
He may have been slightly distractive because I was telling
him about being on an online chat with one New Zealand.

Speaker 22 (01:26:40):
Yeah.

Speaker 3 (01:26:40):
Well that's the next problem, isn't it. That's robot chats.
You don't want to go down that track. Have you
had one disappear? Little You're on a chat and you
ask them question they vanished, person vanishes?

Speaker 15 (01:26:48):
Well, you don't want to be refreshing the page or
anything like that. That's the end of your conversation, You've
got to start all over again.

Speaker 3 (01:26:52):
Yeah, precisely. Where was she was she in charge? It
was deputy chief season not Reby in charge then so
promoted to acc to then implement that well known policy
of twenty twenty that got reviewed in twenty twenty two
and twenty twenty three. I'm probably Megan's probably the nicest
person in the world. Shall we get on? I wouldn't
know what to ask her now. I've told all the

(01:27:13):
stories five away from trending now him as well Spring
Frenzy sale on now surely has got to come to
an in sooner or later. Somebody, someone's going to pull
the plug on this nonsense night bitch. So that's a movie.
It's based on a novel of the same name, Glenn,

(01:27:34):
have you seen or just the promos? No, just the
promo okay, he says, looks okay. So it's about a
new mum whose maternal instincts start to manifest in canine form.

Speaker 12 (01:27:44):
Straight.

Speaker 18 (01:27:45):
I used to be it.

Speaker 2 (01:27:46):
Wow, that feels like a lifetime agos.

Speaker 25 (01:27:49):
Yeah, yeah, totally, definitely, we got it.

Speaker 6 (01:27:52):
I used to be a stripper before times.

Speaker 26 (01:27:56):
Each week up, I will whip your throat out.

Speaker 11 (01:28:00):
Hey, motherhood I'm trained and connects you to some primal urges.

Speaker 3 (01:28:08):
I feel like I'm stuck.

Speaker 2 (01:28:10):
Make up a plan, draw up a schedule. Happiness is choice.

Speaker 20 (01:28:15):
You're never going to be smart happy.

Speaker 12 (01:28:21):
Again.

Speaker 2 (01:28:24):
Oh and I'm pretty sure I'm turning into a dog.

Speaker 3 (01:28:27):
You're so funny, Amy Adams, who I quite like, and
directed by the woman who did The Queen's Gambit, which
I also liked. So apparently it's not supposed to be funny.
So are you telling me?

Speaker 15 (01:28:43):
Well, I think it's just not supposed to be a spoof,
you know, Okay, it's I think it's definitely funny.

Speaker 3 (01:28:48):
So horror with some humor.

Speaker 15 (01:28:50):
Yeah, watching it, I'm not. I'm still not. Even though
I've seen the whole trailer. I still don't know whether
she is actually turning into a dog or she just
thinks she's turning into a dog.

Speaker 3 (01:29:00):
It's in cinemas sometime in September. As that designed to
toy with people because we don't don'natething exact done. Set
aside all of December just you don't want to miss.

Speaker 15 (01:29:12):
Say, I always sit aside December in case.

Speaker 3 (01:29:15):
You just never know. Back tomorrow for the Friday morning edition.
It's hard to believe. It's tends to be a bit
loose on a Friday. I'm just sitting here thinking Weld
knows what's going to happen. Back tomorrow from six Happy Days,
Oh aren't You? I need you, Olka.

Speaker 1 (01:29:32):
Need It's beautiful season. For more from the mic Asking Breakfast,
listen live to news talks it'd be from six am weekdays,
or follow the podcast on iHeartRadio.

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