Full Show Podcast: 09 October 2024

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
You're trusted home for news, Sports, entertainments, opinion and Mike
the Mike Hosking Breakfast with Bailey's Real Estate, your local
experts across residential, commercial, and rural news.

Speaker 2 (00:11):
Togs Head been welling and welcome. Today is another of
those Adrian days where what we want him to do
versus what he does he may not be the same thing.
The government to upper cowboy builders, less the leader works
us through his health and blowout. Might Mayor Mark and
Junior have politics Wednesday after lay of course, Richard Arnold
on Hurricane Watch, an Steve is in Australia, Pasky's Welcome
to the day seven past six. No shortage of pundits

(00:32):
lined up of course today calling for not just a
fifty point cut in the cash rate, but two fifty
point cuts before the end of the year. Now they
might be right, but they're only right if we accept
that the Reserve Bank has cocked all this up Titan
things way too hard, had too many businesses fall over,
and too many people lose their jobs, So now they
desperately have to untangle their mess. One of the great
debates leading into the US FED decision of fifty points

(00:55):
was was the economy at risk of recession, and if
it was, would they need to move fifty points straight
up toward that fear off. Meantime, in Australia they seem
to have handled things measurably better. They haven't cut it
all yet. In fact, they've only just taken out the
language or a threat of a rate rise. Now their
job market remains comparatively buoyant, as does the economy. Locals,
of course in Australia don't see it that way. They're

(01:17):
desperate for a cut, But in that is the tale
surely of separate economies. They think they have it bad
until you look at a place like New Zealand, who
really has it bad? So two lots of fifty points
are full percent? What does that tell you? Given if
they pull that trigger they don't meet again until well
into the new year, it means they have seen what
we have felt sales crashing, joybad, shrinking the mood doer

(01:38):
a recession for most likely six quarters of the past
couple of years. In simple terms, an unmitigated mess. Add
to the problem the government overarching view that banking generally
is not working well for New Zealanders and the rural
sector in particular, is being badly served. Now you might
have noted last week the Reserve Bank fired back at
all that they argue their rules do not make life
hard on the farm. But equally they would argue, I'm

(02:00):
sure they've handled this past few years very well. In
a fifty point cut this week was an excellent example
of how well they've handled it, the same way they
said last time in their first cut that it was
well signaled, when we all know full well it wasn't.
It would be nice to think they ultimately are held
to account for all of this, given the damage its cost.
But while we wait for that fateful day, fifty points,
if that's what it is, merely demonstrates yet again how

(02:24):
badly they've misread the whole exercise.

Speaker 1 (02:28):
News of the world in ninety seconds.

Speaker 2 (02:30):
Well, Milton's still to arrive, but it's big and they're
getting ready, if not getting out.

Speaker 3 (02:34):
We are currently fulfilling close to one thousand missions to
support our local communities. That includes everything from tiger dams
and generators to staff support, as well as food and
water and tart.

Speaker 2 (02:48):
Like Hellene last week, insurance is hard work in these areas.

Speaker 4 (02:51):
The coverage is capped at two hundred and fifty thousand
for the structures. So with Milton, for example, if our
damage exceeds fifty percent, that's all we'll see in we'll
have to be will be forced to rebuild and come
out of pocket for that difference.

Speaker 2 (03:05):
In the UK, the toy is Richard Analo and that
shortly the Tories. By the way, I've hit another round
of voting. Urban eighth had yet another round of voting tomorrow.
For today though, James cleverly who shot to the front.

Speaker 5 (03:13):
Colleagues are coming across to us because they can see
that James is the best option going into that next election.

Speaker 6 (03:19):
They came over to us because they believe that we're
not in the game of doing dirty deals.

Speaker 2 (03:24):
Robert Jinrick who was first but is now sick and
still has his fans who aren't counting him out.

Speaker 7 (03:28):
What Rob has is that stroll broad base of support
across all wings of.

Speaker 8 (03:34):
The Parliamentary Party.

Speaker 9 (03:35):
I think these days right wing left wing of the
party is too simplistic.

Speaker 2 (03:38):
To the war. The Israeli still bombing Gaza. These are
all civilians. This father says, look at this child. Does
he look like a fighter to you? And given the hate,
well hate drives wars. Of course, we get some inside
overnight from the MI five and Britain on how nuts
some people are online.

Speaker 7 (03:55):
We're encountering more volatile would be terrorists with only a
tenuous grasp of the ideologies they prefer to follow, people
viewing both extreme rate wing and Islamist, extremeist and instructural material,
along with other bits of online hatred, conspiracy theories and disinformation.

Speaker 2 (04:09):
And finally generational health drift. That's what we've got at
the moment. This is a big study, one hundred thousand
people from Oxford. They weren't in Oxford. Oxford University did
the study. It's found that despite people being born since
nineteen forty five living longer, they actually have worse health overall.
So there was a prevalence of higher diabetes, higher cholesterol,
more diagnoses of cancer and heart issues were much more

(04:30):
over rate, and the muscle strength and risk of disability
was also up. There was no real difference between men
and women. Gen x's were the most likely to have
multiple issues.

Speaker 10 (04:37):
I would have thought it was obvious.

Speaker 2 (04:38):
It's all crapwe basically, but that is news. That's the
derritos and the chinos that has news. For the world
in ninety Just to give you some sort of sense
of what is happening with Milton Airlines and canceling flights left,
right and center. Tampa's closed as in Tampa International Airport.
The Tampa Buccaneers were a football team and that part
of the world. They've left for their next game early.
They've got out. Orlando International is going to close at

(04:59):
about one as tomorrow morning our time. Southwest Airlines has
canceled four hundred and two flights seven hundred and fifty
over all Orlando flights, which is eighty five percent of
the schedule for Wednesday their time. That's off Disney, all
the theme parks. It's gone. It will hit this time
tomorrow about this time tomorrow. Currently it's eight hundred k's

(05:20):
southwest of Tampa. But as I say more from Richard
shortly twelve past six.

Speaker 1 (05:26):
The Mic Asking Breakfast Full Show podcast on iHeartRadio how
It by News Talk.

Speaker 2 (05:32):
Zippy, the old tip tap between China and the EU
unfolded with another chapter overnight. So the Europeans, as we
told you the other day, going to slap some tariffs
on the Chinese EV's. China said, well, we see your
EV and we'll get your brandy. So they have announced
overnight major major terrifs for Brandy from the EU fifteen
past six.

Speaker 11 (05:49):
Bad dollar taking money.

Speaker 2 (05:51):
I'm speaking of the Chinese from Joe my Wealth Andrew Kellah,
good morning, very good morning, Mike. You So from my
reading yesterday, the pollup Bureau turned up and the words,
but not a lot, not a lot of and so
the whole steam fell out of the market a little
bit underwhelming.

Speaker 8 (06:06):
Yes, So picking up on what we talked about yesterday
and keeping an interested eye on China because of course
of the potential impact the strength of the Chinese economy
can have on demand for our exports. So yeah, we
ended up yesterday with a bit of a I'm calling
it a Dickensian day. It was a bit of a
tale of two cities. And I'll explain that in a minute,
and all relating to what we talked about yesterday morning.

(06:27):
So China was back trading, share markets open for business
after a week long holiday, and you got this announcement
from the National Development and Reform Commission. Now the press
conference we were waiting force Unfortunately not as definitive as had
been hoped in terms of share markets. Yeah, we had
this tale of two cities, which meant that Shanghai the
share markets went up and Hong Kong the share markets fell,

(06:49):
so completely different reactions. I'll explained that in a minute now.
The press conference, first, though, officials there said that they
would speed up spending, but unfortunately they refrained from announcing
new measures. The chairman did say that he is fully
confident the country will achieve its full year economic and
social goals. He did say, though, that the downward pressure

(07:09):
on Chinese economy is also increasing. They reiterated plans to
boost investment, increased directs for support for low income groups
for new graduates. He did note that China will continue
to issue long dated sovereign bonds. They've been doing that
anyway to support major projects, and more measures to support
the property market and boost domestic spending. But the problem

(07:31):
here there was nothing new, so you get this market reaction.
Hong Kong, the Hong Kong market. A lot of Chinese
companies listed in the Hong Kong market. They've been training
all last week, and last week it had rallied through
the week, so it had gone up, but the Chinese
markets were closed, so the Hong Kong market gave back
the games from last week, so it was down nine

(07:52):
point four percent. Pretty chunky four But just look at
the last of the two weeks before that market was
up thirteen and up ten, so you know, down nine
is really only giving back some of those games. The
Shanghai composite though, because it was closed, it needed to
do a little bit of catch up, so it rallied
just under five percent yesterday. Just taking a step back here.
Like both of those indexes, both of those markets are

(08:14):
at the highest level we've seen that for months, so
they've gone They've definitely gone up. In fact, Shanghai market
is at the highest level senate since early twenty twenty two.
But pretty volatile. Oh, the one thing you will be
interested in. The oil price fell sharply yes after this
press conference year because people thought, oh gosh, we're not
getting the boost to the Chinese economy we thought we
were going to get.

Speaker 2 (08:34):
But not for the faint hearted. Though indeed not a
highly dramatic time speaking which could be a good one
today or not?

Speaker 6 (08:39):
Yeah or not well?

Speaker 10 (08:41):
Or was it exciting?

Speaker 2 (08:42):
Isn't it?

Speaker 8 (08:42):
Mountary policy and interestrate Boffin's all very excited about Today's
a big day potentially for local markets. So look, the
call is is it a twenty five or a fifty.

Speaker 2 (08:51):
Point drop?

Speaker 8 (08:52):
It's all been debated at length, hasn't it. I mean,
local economists and commentators have embraced the fifty. Markets have
priced in the fifty. It would seem like a free
pass for the bank to go there. If they are
sort of sitting on the fence of whether to go
twenty five or fifty, well, the market will take the fifty,
but they have to think it's the right thing to do.
So I'm assuming the Monetary Policy Committee we've had all

(09:14):
of that sort of input and information during the deliberations.
I think a twenty five point move Mike would somewhat
disappoint the local reefish, the low reck and money market traders.
I think so, yeah, a bigger picture of you though,
Let's just take a step back here. The key issue
is getting to the endpoint. We want to get to
what is the non restrictable neutral level of the ocr

(09:36):
and getting there in appropriate time. But there's always going
to be lots of debate about the pace that you
get there. You do need to get there, though, the
recent data that lack of inflationary price intentions in the
recent quarterly Servo Business Opinion gives them a reason to go,
And of course there's this practical reason as well. They've
only got October November and then it's sort of radio
silence or tools down until February. The other issue, Mike,

(09:59):
is just this trans mission. If they do drop the rate,
there isn't an immediate impact for a lot of people.
If you're on fixed rate Mallas, you've got to wait
few mortgage for the term to come up. If we're
exposed to floating rate risk, then you do get some relief.
But what we've actually got to see is how much
does this actually translate into actual activity or behavior. Also,
last point, Mike, it's an o our review, it's not

(10:20):
an MPs, so not a lot of associated commentary. So
two pm, Mike, turn off Parliament TV, settle down and
watch the Yes.

Speaker 2 (10:27):
The good thing is Parliament's not on, so there's not
a class not on. It's an easy day for me anyway.
What are the numbers?

Speaker 8 (10:33):
Dal Jones is down eight points, so i'll call that
square four one nine four six. The S and P
five hundred is up point zero point seven percent five
seven three five, and the Nasdaq is up one percent,
so one hundred and seventy five points over the eighteen thousand,
eighteen thousand and ninety seven overnight. The Forts one hundred
got hit a bit, actually, down one hundred and thirty
points over one percent eight one nine zero, the NICK

(10:55):
down one percent three eight nine three seven. Shanghai Composite,
as as I said, was up four point six percent
three four eight nine the mark there the Aussi's yes,
they lost about a third of a percent eight one
seven six. We also lost a similar round, about a
third of a percent, down forty one points twelve five
hundred and fifty five Kipi dollar point six one two
oh against the US point nine zero eight o against

(11:18):
the OSSI point five four seven five euro point four
to six seven six against the pound ninety points sixty
six Japanese yen. It's what one new zeale dollar will
get you on the wholes market's gold two thousand, six
hundred and nine U S dollars and yeah, Brent crude
seventy six dollars and fifty eight cents. Mate, they didn't
like that Chinese announcement.

Speaker 2 (11:35):
Good luck, So afternon we'll talk about it tomorrow. Andrew
kalahojmowealth dot co dot m Z. Update from one of
our favorite company's main freight yesterday, first half of their
financial year beat expectations eight and a half percent increase
in revenue. All of this is a good bit of
an investor update. Things are back to normal when they
say back to normal and freight. We went mental during COVID.
Now it's gone back to the way it was with
the rider. That we have these geopolitical risks of the

(11:58):
Red Sea disruption, of the port strikes in America, et cetera,
et cetera. But a revenue beat is a revenue beat.
Six twenty one EREIC Newstalk two Beat.

Speaker 1 (12:09):
The Vike Hosking Breakfast Full Show podcast on iHeartRadio powered
by News talks at be.

Speaker 2 (12:16):
Just running through the numbers on the Tory vote. There's
another round tonight, and tonight's is really the big one.
Turtning Hat lost, He's out, he's gone, so four became three.
Cleverly got thirty nine votes, so he's gone from third
to first place, which is interesting. Jenrick was first is
now second. He got thirty one votes. He lost two.
Bad Knock is now third, but up three to thirty points.

(12:37):
So turning Hat's votes, of which there were twenty, now
get redistributed in some way, shape or form, we know
not which way. That's why we're having another round of
votes tonight. The important thing that goes from three to two.
The two then go to the party membership and that's
where it gets crunching six twenty five.

Speaker 9 (12:54):
Trending now with chemist Well's Keeping Kiwi's Healthy all year round.

Speaker 2 (12:59):
One of the more controversial films of the years out
today in America. It's called The Apprentice. It's about the
rise of Trump and the eighties New York real estate
and his relationship with a mentor, a guy called Roy Cone. Now,
Trump's team didn't like it, threatened a lawsuit, called it interference.
They didn't want it out before the election. It's work affection,
they claimed by Hollywood elites. As a result of that,
the director had trouble getting a distributor. They finally sort

(13:20):
and listen to this.

Speaker 11 (13:22):
Yes, hello, this is Donald Trump from mister Cohne.

Speaker 2 (13:25):
Thank you so much, Donald Who.

Speaker 11 (13:28):
Roy Con Nice to meet you, the Roy Cohen from
all the papers. Yeah, you're brutal, guilty is charged The
first rule is the simplest attack, attack attack.

Speaker 12 (13:40):
It's going to be the finest building in the country,
in the world.

Speaker 11 (13:43):
It's going to be spectacular.

Speaker 2 (13:46):
Rule two, admit nothing in the everything.

Speaker 3 (13:50):
I hear you can beat the US government.

Speaker 13 (13:52):
Rule three, no matter what happens, you claim victory and
never admits defeat.

Speaker 6 (13:58):
We have a brand new camp slogan, Let's make America
great again.

Speaker 11 (14:05):
Well, I like the a gampire.

Speaker 2 (14:06):
Now Sebastian stan as Trump. He's good because he looks
nothing like Trump in real life does in the movie
Jeremy Strong, who's brilliant out of Succession. Of course he
plays Cone. It's out in New York today. We'll hit
the rest of the US and Canada in two days time.
When it gets here, Lord only knows. By the way,
read today's big announcement. We'll have a look at this
with Michael Riddell after seven o'clock this morning. Also talked

(14:27):
to the head of Chui Wei Bank at a couple
of moments. Greg Smith gave us a very good dissertation
on the program Monday out of Devin Funds. Of course,
they reprinted that in more detail yesterday in the Herald.
He's arguing for seventy five. He isn't going to get it,
he admits he isn't going to get it. But the
argument is really really coaching, and given how cogent it is,
it's well worth reading through and following the logic. And

(14:50):
given there is so much logic, and he is arguing
for seventy five, that just reiterates what I was trying
to say on the program earlier on this morning, what
a monumental cock up this thing is. But more on
that tet require anytime news is next. There are news talks.

Speaker 11 (15:04):
In que.

Speaker 1 (15:10):
The newsmakers and the personalities the big names talk to,
like the asking breakfast with our Veda, retirement, communities, Life
your Way news talks that'd be.

Speaker 2 (15:21):
Just an update from this time yesterday. Catherine was telling
us about the potential EU reset on immigration and some
interesting immigration numbers out of the UK country later. But
be that as it made. The problem with the EU
is twenty seven of them, and the problem with the
EU with twenty seven of them is they've all got
to agree on everything, and already over nine Hungary has
joined Netherlands looking for some sort of carve out, so
all Barnes into the Parliament in the next twenty four

(15:42):
hours to say we're not signing up to any of us.
So that's going to prove to be an ongoing problem.
Speaking of problems, Milton's about eight hundred k's to the
left hand side of Florida as you look at it
on the map. They've rolled out Biden.

Speaker 14 (15:52):
Those who do it do it to try to damage administration.
Well let's take care of ourselves. But it missed leads people.
It puts people on circumstances where they're panic. Were they
really really really worried that thinks no, you're not being
taken care of, and it really is. That's going to
sound and use an old phrase as un American, it

(16:13):
really is. People are scared to death. People know their
lives are at stake, all that they'd worked for, all
the they on, all of their value, and it's just
it's just anyway.

Speaker 2 (16:29):
The counteract the misinformation that's about the place that mainly
came out of Helene last week, Richard Ardlalm this more
shortly for you meantime of twenty two to seven. Feels
like I said every time these days. But the ocr
call today is as important as any given the state
of this economy. Of ours. Most banks want fifty, if
not seventy five. KI Bank got a headline yesterday by
cutting big on their floating rate and anticipation at qv

(16:50):
Bank CEO Steve Yukovich, it's back, well a Steve, very
good morning to you. Somebody said it was pure headlines
on your part. Was it pure headline? Steve?

Speaker 6 (16:58):
Well, obviously, what we're trying to do is create enough
momentum that others will follow. So you know, I did
read that headline and had a bit of a chuckle
to be fair, because ultimately, marketing and branding is about
doing what you are about, and for us, that was
trying to social leadership about a cup.

Speaker 2 (17:16):
Would you be astonished if he went twenty five today, I'll.

Speaker 6 (17:20):
Be really disappointed. I think people, real businesses and our
customers are really really hoping for fifty, and you know,
we're predicting fifty. I think that's the right thing to do,
but there's got to be a lot more cuts to
follow quickly after that.

Speaker 2 (17:33):
I think, So fifty and fifty for the end of the.

Speaker 6 (17:36):
Year, Yeah, we think so. I mean neutral remembering is
about two and a half percent or two and three quarters, so.

Speaker 15 (17:43):
We're a long way away from neutral.

Speaker 2 (17:45):
Do we all agree on this, because in reading all
the commentary, I've got the ends that I are in
a couple of independent economists saying, yeah, maybe, but we
see twenty five. What do they see that you don't.

Speaker 6 (17:56):
That's a great question. I mean, I think the data
has been very very clear for quite some time that
we need a cup. So, I mean, it's it's not
an exact science. People with different perspectives and interpret the
data in different ways, but you know, I feel pretty
strongly that fifty is the right thing to do, and
that's the right thing to pass on as cockly as
we can.

Speaker 2 (18:14):
And if it's fifty and fifty, is that filled with something?
Not that he'll admit it, but is it filled with
some level of regret that we should be doing twenty five?
It's nice and easy, soft landing, do it properly, But
suddenly two lots of fifteen, God knows what next to
you is a cockup?

Speaker 15 (18:29):
Look, I don't know.

Speaker 6 (18:30):
I mean, I think when you look to the feed,
you just got to understand what the data tells you.
And then they looked at the data and said they
needed a cup. By fifty brazilm Bank looks at the data.
I tifty is the right call, then, you know, I
don't think they need to look back and understand whether
it was too slow too fast. They just look at
the data now and make a decision. And we think
that right season fifty.

Speaker 2 (18:47):
But isn't part of the argument in a fifty or
seventy five? So, I mean, I could tell you see
the American situation was people were panicking about a potential recession.
They're not in recession, they hadn't been in recession. They're
not going into recession. We have the damage is there
to be seen, isn't it?

Speaker 6 (19:02):
Yep?

Speaker 2 (19:03):
I think so therefore, going fifty is like what's fifty?
Hang on, I'll throw another fifty in there. That's that's
correcting a mistake, isn't it.

Speaker 6 (19:14):
Well, I think ultimately is a tid took. I don't
think it's an exact science, and I don't actually think
it's that much of a benefit to look back and go,
you know, with the data clearer than we thought. I
think they really key thing now is businesses have a
certain year round of great cuts to come so they
can invest in where people our soul's start to think that,
you know, there's hopefully in twelve months and almost all

(19:36):
households will have seen the benefit pass through, so they'll
have a bit more flexibility. So I think it's much
more about the future.

Speaker 2 (19:42):
Okay, So the twenty five we got the first time around,
did that move anything? Did people come knocking at your door?
And if they didn't, will they do it on fifty today?

Speaker 6 (19:50):
I think there was definitely signs of life and the
real estate market, definitely signs of business interest. Much more
about the signal rather than the actual financial impact. Is
Westpa about that before? I think fifty probably is a
bit of a game change of some people because you know,
that will knock onto test rates coming down and other things.
It will mean, you know, borying is more affordable.

Speaker 2 (20:10):
Yeah, speaking of the test rates, it was this time
yesterday we're talking some banks are doing testing under just
under nine percent. What do you run at at at
the moment and do you defend it.

Speaker 6 (20:18):
Eight and a half at the moment and get it
up at the end of today it will be at
eight if we get a fifty point cup.

Speaker 15 (20:24):
So you know, we've got to we've.

Speaker 6 (20:26):
Got to move of that and our men there is
always a little bit of a lag because I think
those test rates in recent times proved to be pretty
aerate in terms of what people needed to pay. Yeah,
but they need they need to be they need to
be adaptable, and they need to move down.

Speaker 2 (20:39):
So it's a few point you mate, always a pleasure
to step appreciate Steve Yukovic, the q we ban CEO
eighty minutes away from seven as getting some part is
why the media is disliked and distrusted by so many
people in this country. Here's the headline, are speaking of mortgages,
speaking of houses, speaking of banks, Banks prepare for home
loans going bad. There's your headline, banks prepare for home
loans going bad? And you think, oh, how many home

(21:00):
loans are going bad? How big is this particular cliff
that we have this morning? The percentage of quote unquote
non performing loans which are at least ninety days over due,
has lifted to zero point six percent of all mortgages,
thus indicating to me, correct me if I'm wrong, but
ninety nine point four percent of mortgages, let's just say

(21:23):
virtually all of them are not distressed. Therefore, there's no
need for the headline seventeen to two.

Speaker 1 (21:30):
The Mic Hosking Breakfast Full Show podcast on iHeartRadio powered
by News Talks.

Speaker 2 (21:35):
A b interesting new numbers out overnight from the UK
six hundred and seventy seven thy three hundred as in
a net gain in immigration. It's a hot, hot issue.
Year before that it was seven hundred and forty five thousand,
year before that it was six hundred and eighty five thousand. So,
all of a sudden, the population UK population has gone
to sixty eight point three million, fourteen to two.

Speaker 9 (21:53):
International correspondence with Ends and Eye Insurance, Peace of mind
for New Zealand business.

Speaker 2 (21:58):
Outside Richard morning, what do you mind? They seem to
have done all they can and they're just waiting.

Speaker 16 (22:04):
Well, we'll find out whether they've done all they can.
Certainly a lot of people are heading out of town
right now. But let's start with this. Hurricanes are unpredictable,
but this latest Hurrican Milton, is grabbing a lot of
attention because last night again strength so fast it became
one of the strongest Atlantic storms ever recorded. That had
some Florida weather forecasters in tears on air, literally tearing

(22:26):
up at what they were seeing with the numbers coming through.
Here's John Morales of NBC Miami.

Speaker 11 (22:31):
It has dropped. He's choken up here.

Speaker 17 (22:37):
It has dropped fifty millibars in ten hours. I apologize,
this is just.

Speaker 18 (22:47):
Horrific.

Speaker 16 (22:48):
Yeah, what happened is that it went from a Category
one storm to a Cat five with top wind speeds
of get this, two hundred and ninety kilometers an hour
in just a short period. Morales warns gaining.

Speaker 17 (23:00):
Strength in the Gulf of Mexico, where you can imagine
the winds. I mean, the seas are just so incredibly,
incredibly hot, a record hot, as you might imagine. You
know what's driving that. I don't need to tell you
global warming, climate change.

Speaker 16 (23:15):
Well, since then, the storm has eased to a Category four,
and this is what typically happens. These hurricanes weaken through
what is called eyewall replacement. That's when the wall of
new thunderstorms forms right around the eye, so choking off
some of the new moisture coming in, but creating in
the process a much larger hurricane. As it nears land,
which is expected by early Thursday or time, it can

(23:36):
either strengthen again a week can we seen both in
the past. The other fact of this time is that
it seems to be headed towards Tampa Bay in Florida.
This place is specially vulnerable. It has a shallow seabed
which can send storm surges well on shore at maybe
four and a half meters high. Unsurvivable, warns Tampa's Mare
Jane Caster of this potential situation.

Speaker 17 (23:59):
She said, if you choose to stay in one of
those evacuation areas, you're going to die.

Speaker 16 (24:05):
That's the kind of warning that has more than a
million Floridians hitting the roads at the minute. Petrol stations
are running out of fuel. Traffic time surrendous, says one driver,
who took eight hours, so double the usual to get
out of town.

Speaker 17 (24:16):
It is bumper to bumper, to the point where we
were standstill, not moving for an hour at a time.

Speaker 16 (24:22):
Of course, this is just two weeks since Hurricane Helene
hit in six states, especially North Carolina, one of the
least likely places, with more than two hundred people now
registered as killed and untold damages. The worst in recent
times because with Katrina in O five, thirteen hundred and
ninety two people died in that storm, damages of around
two hundred and four billion dollars. New Zealand, this time.

(24:44):
President Biden has canceled a foreign trip to Germany and Angola,
saying this new storm could be the worst in the
region in a century, while the White House is unite
the slamming Trump for criticizing the Federal Emergency Services FEMA.
But we will see what happens with the storm on Thursday.
And do we watched in wait meantime, Bob woodoods, Yeah,
this country's leading political reporter is about to come out
with a new book with some bomb shows right on

(25:06):
the eve of the elections. Folks talking about Woodward, who,
along with Carl Bernstein, did the core reporting that forced
Richard Nixon from power during Watergate. Of course, since then,
Woodwood has shown with a series of best selling political
books and with his time at The Washington Post that
he has the best high level political sources of anyone
in the country. His new book was called War and
it comes out next week. In it, he reveals that

(25:26):
Trump secretly stayed in touch with Russia's Putin after leaving office.
It describes a scene just this year at mare Lago,
Trump's place in Florida, when Trump ordered an eight out
of his office so he could speak with the Russian dictator.
The book indicates that these two have spoken at least
seven times. In one conversation during the height of COVID
in twenty twenty, when Trump still was in office, he

(25:48):
agreed to send Putin when they were rare Abbot COVID
tests for the Russian leader's personal use. Putin said to
be particularly anxious about being infected at the time. The
book has part of one conversation verbatim in it. Putin says,
of the COVID test quote, please don't tell anybody you
sent these to me.

Speaker 10 (26:06):
Trump replies, I don't.

Speaker 16 (26:07):
Care, fine. Putin, No, no, I don't want you to
tell anybody because people will get mad at you, not me.
They don't care about me, So Putin suggesting he cares
what people think about Donald Trump.

Speaker 2 (26:21):
Random ask good on you man't catch up soon. Rick
Judarnold state side, No, no, don't tell them. These people
run the world. Hard to believe, isn't it? Nine minutes
away from seven.

Speaker 1 (26:30):
The Mike Hosking racist with al Vida, retirement, communities news.

Speaker 2 (26:34):
Bogs dB blu Khaki very good news. It's roadsen, as
in the lake, as in hydro, as in the price
of power. It's risen seven hundred and fifteen mills to
just over five hundred and twenty five meters above sea level,
which is one hundred and two percent of the average
for this time of the year, So it's over average.
The White Taki catchment fourth wetter September on record. Bad
for the farmers, good for the power. Snow story just

(26:54):
sitting at one hundred and seventeen so when it melts,
that's all good as well. So for now, fingers crossed
all the so I know, Transpower the other day said
wait till next winter. It's going to be a problem again.
So we actually haven't solved anything. It just sort of
reigned momentarily Nobel Prize time. Why am I the only
one who covers us? Go find somebody who covers No
one covers the Nobel Prizes like I do, for goodness sake.

(27:16):
Today it's physics, and today we've got John J. Hopfield
and Jeffrey E. Hinton use of statistical physics concepts in
the development of artificial neural networks. The artificial neural networks,
of course, play a fundamental role in machine learning and
artificial intelligence, which we're all fascinated with these days. These
artificial neural networks, say the Committee have been used to
advance research across physics topics as diverse as practical physics,

(27:39):
material science, and astrophysics. They've also become part of our
daily lives facial recognition, language translation. The Committee also issues
a small warning about AI and how it's boom boom
boom boom boom boom coming to change the world. But
for now, these two blokes have won. It's tomorrow. Not
quite as exciting as physics. It's chemistry, never quite like chemistry.

Speaker 13 (27:58):
Can blow stuff up with him.

Speaker 2 (28:00):
It can blow stuff up with chemistry. So if they
give something to give the award to somebody who blew
something up, maybe will.

Speaker 13 (28:05):
And you can poison people.

Speaker 2 (28:06):
That is true. Literature on Friday, Peace on Saturday. We're
not here for peace. They need to do something about that.
Maybe not too many people.

Speaker 13 (28:15):
Too many people aren't here for peace these days.

Speaker 2 (28:17):
That is true. Maybe Jackie Tame on Saturday will cover
it and we'll see how we go with that. But
you look out around the media today, there's another reason
why the media is in so much trouble today. You
go find me someone who's covering the Nobel Peace Prizes.
Today the Nobel Prizes generally, and you're going to find it.
You will find it nowhere but here four minutes away
from seven.

Speaker 11 (28:35):
Well, the inns are the outs.

Speaker 1 (28:37):
It's the bizz with business favor. Take your business productivity
to the next level.

Speaker 2 (28:42):
The probably you will go cover it now. Florida tries
to get ready, as we told you a couple of
moments ago, tens of thousands getting out. The highways are
backed up for miles. They're still working, of course through
the mess off Heleen last week, as Richard alluded to.
So we've got some new estimates this morning on the
damage Helene caused and Milton's bigger, but the Heleen damage
is at seventy seven point five billion for property up

(29:03):
around two thirds of that is believed to have been uninsured.
So you've got huge issues there sixteen states. That's seventy
seven billion, two thirds which is uninsured as across sixteen states.
On top of that, company called RIMS Event Response, they've
estimated around eighteen billion in private market insured losses, So
that's your premiums through the roof National Flood Insurance program

(29:23):
also likely to see losses of up to three point
two billion dollars. Vast majority of the damage was from flooding.
Wind loss though is up around ten billion dollars. So
they are hunkering down bedtime in Tampa in Florida. And
as Richard said, late tonight, midnight, one o'clock in the morning, ish,
our time is when it hits land, right Adrian, what's

(29:44):
he going to do? Is you're gonna do twenty five
or fifty? And what material difference is that going to make?
And do we if we see fifty, expect another fifteen
next time before Christmas. All of these are interesting live points,
and play Michael Riddell out of the former Reserve Bank
economist with us directly after the news.

Speaker 1 (30:02):
The breakfast show You can Trust the Mic Hosking breakfast
with the Jaguar f base cut from a different class
news dog's head be.

Speaker 2 (30:10):
Falling seven past seven. So here is your Reserve bank
and underum most economists want a fifty point cut today.
That's a big cut. That's a cut that might indicate
the Reserve Bank wreck the economy a little bit much.
Last time we heard from Adria and he was talking
twenty five points of course, So what happens today and
what effect does it have former Reserve Bank economist Michael
Raddell's with us. Michael, morning to you. If you're on
the Monetary Policy Committee and you hear all the economists

(30:32):
so far this week, do you go all geez, I
wonder do you are you affected by that or not?

Speaker 10 (30:36):
Really?

Speaker 18 (30:38):
We'll so maybe conscious of it. I mean, you know,
when I used to sell on the Monitary Policy Committee,
we got standard advice as to what markets were expecting,
what economists were expecting. I don't think it ever sort
of spaders very much, because ULTIMATE think you're being governed
by your own analysis and your own forecast, and quite
a few of those market economists to say, as I
am that today is the fifty fifty calls, it's pretty.

Speaker 2 (31:00):
Close, pretty close to to see, I've got Grig Smith,
who argues cogently at DEBN funds for seventy five and
you've got INSIDI at twenty five. That's a huge gap.
How Come we've got such divergence, I think.

Speaker 18 (31:14):
Because intestrates are so high relative to what's the normal levels.
So the Reserve Bank thinks to normal natural rates about
three point eight percent were at five point two five
at the moment, So we're going to get back there
and close that gap. The question is how rapidly how much? Okay, Well,
that comes back to the uncertainty of that inflation. You know,
the inflation matters don't come out for next week. Some
people are a lot more confident about them than others.

Speaker 2 (31:36):
So they would have some good intel in that. Some
suggestion is that it could print in a low two,
which means they've overcooked this, they've squeezed too tight.

Speaker 18 (31:46):
Not necessarily on its own, because what will be affecting
the headline number next week is petrol prices have been
coming down, and as you now, oil prices go all
over the place. They'll be looking at the sort of
core measures and the ones excluding volatile items. I think
it's more like the core numbers may still be around
three or just under, but still probably heading down. And
it's just a question for them of a how much

(32:07):
can they take from their forecast now they won't have
any advanced information, and how consistent do they want to
be with what they said in August, because as you
noted back in August, Asianman's numbers were very clear twenty
five next month read haven't shifted that much in the meantime.

Speaker 2 (32:23):
Okay, so if he goes fifty, do we assume automatically
there's another fifty or we can't go that far?

Speaker 18 (32:29):
No, I don't think so, and I don't think they
will quite have that in their minds either because they
don't do a full set of forecast or one of
these reviews. They do the full forecast only every quarter,
and they do have two bits of crucial information coming
out in the next couple of weeks, the CPI next
week and the unemployment and wage numbers the first week
of November.

Speaker 2 (32:45):
Does it work if he goes fifty today with the
twenty five already and possibly another fifty, is that material
and things we can see.

Speaker 18 (32:53):
Change at that sort of scale one hundred point one
hundred and twenty five points. Yes, that does become material macroeconomically.
You're already seeing some business conference surveys picking out, and
I'm pretty sure that some of that is because people
are now expecting that there will be big cuts, So
you know, that's already some of the benefits. But martial
policy works with a way it.

Speaker 15 (33:14):
Takes twelve months.

Speaker 18 (33:15):
Current things have been affected by decisions early last year,
so we're not going to see an immediate bounce back
to normal economic additions.

Speaker 2 (33:23):
All right, I always enjoy your expertise, Michael Michael Adel,
former Reserve Bank economists. Just do I work you through
it very quickly. Ten minutes past seven, by the way,
So the major banks, this is your asb's and your
KIWI banks. They're all arguing fifty points. Some of them
are arguing fifty and fifty. Jared kur at Quey Bank
argues very strongly for that Westpact, they say fifty points,
B and Z they're looking at the same sort of numbers.

(33:44):
So the major banks are all on fifty. But then
you've got the A, N Z. Sharon Zolner. They penciled fifty,
but they think it's line ball, could easily be twenty five.
Then you got your independence, you got your infometrics and
New Zealand economic research. They say twenty five. Doesn't mean
that they want twenty five, doesn't it. They're just saying
that's what we see happening today. So she's an interesting
time and an interesting call. So eleven past seven. Government

(34:07):
looking at the cowboys in the building sector. Current maximum
fine for individual builders if you're a bit shonky as
ten thousand dollars. The plan is to bump that to fifty.
For companies is going to be one hundred and fifty
thousand dollars certified build a CEO. Malcolm Fleming with us
on this Malcolm Morning.

Speaker 19 (34:21):
Good morning, Mike.

Speaker 2 (34:22):
Is this a very obvious problem that needs solving with
a big fine?

Speaker 18 (34:26):
I think it's.

Speaker 19 (34:27):
Look, it's important to note that kereless workmanship by trade
qualified builders is rare, and the trade qualification for building
for builders is important. It's been a requirement of ended
CB membership since we started in ninety ninety eight. It's
a prerequisite. It's a unique to us, and we're pleased
at the Government of Signaling that is looking to follow

(34:47):
our lead with occupational licensing.

Speaker 2 (34:49):
Okay, how does it tire with the master builders? I
hire a master builder, I'm supposed to be hiring somebody
who knows what they're doing, never going to cause me
any problems. Why do we need all of this?

Speaker 19 (34:58):
So the trade qualification, something that we believe in, is INTENCB,
it's a prerequisite to our membership, is a unique to us.
You're talking about another trade of social as a reco
trader association. We're just still to stand behind trade qualification
because we believe that that is the best quality assurance
for the homeowner.

Speaker 2 (35:15):
All the issues you see, how many of them are
the individual who's a bit shonky versus the company who
has systemic problems.

Speaker 19 (35:24):
It's really a skills issue and that's what we should
be focusing on solving because the bar to entry for
a builder is an our view, far too low, and
that's where it needs to be tightened up. And so
to answer your question, it really comes down to the
individual on site. You need to get the skills on site,
and often the skills aren't on site, and sometimes they

(35:45):
aren't with the owner of the business either. You need both.

Speaker 2 (35:48):
Is it worth chasing people for money or finding them
when your house isn't built properly and you're upset about that,
And do you really care that Bob's going to get
a fine down the road?

Speaker 19 (35:58):
Well, give some sort of confident to home Martlands that
there is some punit of penalty there. But again I
think the problem that needs to be solved is the
skills and raising the bar for entry to trade qualification
for builders. All sold a lot of that, all.

Speaker 2 (36:15):
Right, Malcolm, appreciate your insight Malcolm Fleming, who is with
the Certified Builders Association, thirteen past seven. It is all
getting a little bit tricky for Anthony Albanezi. He apologized
yesterday he started accusing the opposition of having touretts. This
was in the Parliament. You can't go around accusing people
of having turets, especially in this day and age, so
he had to come out and apologize. Then he had

(36:35):
a motion and October seven motion which he was embarrassed
about because he on one hand wanted to condemn Hamas
for the attack, but on the other hand he wanted
to call for a ceasefire. So he's having a bob
each way. And Done stood up and told him so
and scored some good political points. And that's before you
get to the business of the cost of the protests
in Australia and it's millions to run the police over this.

(36:57):
So there's a lot going on in that part of
the world. And Steve Prices with us after eight thirty
thirteen past.

Speaker 1 (37:02):
The Mike Asking Breakfast Full Show podcast on iHeartRadio powered
by News Talks at.

Speaker 2 (37:08):
B Lester Levy, Who's probably got the worst job actually,
which is the worst job in the country. Currently being
the Health Commissioner or being the head of the Navy,
which if there was a punishment job, right, I'm going
to send you off to be the head of the Navy,
or else I'm going to send you off to try
and fix up which is the worst job. Lester Levi's
with us after seven thirty, after the big blowout yesterday
sixteen past seven. So if you're trying to get a

(37:29):
driver's license, here's another problem. If you're trying to get
a driver's license, that's still an issue. The average wait
times over a month. We do seemingly have as temporary fix.
Overseas license conversions will be extended from twelve to eighteen months.
So another word to become here. You get an overseas license,
you've got to convert it, but you can now hang
around for a bit longer, from twelve to eighteen months.
Transport Minister Simming and Brown is with us on this
good morning. Good morning mane of all the leavers, you can, Paul,

(37:51):
how material is this? How many people we got on
overseas licenses that may or may not convert, Well.

Speaker 20 (37:56):
There's tens of thousands are the reality. As we've had
significantly high immigration the last number of years. That's adding
to the backlog of people trying to get their driver's license,
which is exacerbating a situation which was created when the
last government made unlimited free resets for people doing tests.
So we're pulling a number of leavers to get these

(38:17):
wait times down. We've removed the free research is now
only one for New Zealand citizens and residents. There's no
free resets for people on overseas driver license conversions. We're
now extending the from twelve months to eighteen months for
people doing these conversions just to free out more space.
And we've got over fifty more driver training offices across

(38:38):
the country in place, so we're getting the numbers down,
but there's still a ways to go.

Speaker 2 (38:42):
I was going to say, do we need more people
just doing the job.

Speaker 20 (38:45):
That's one of the leavers we've done. So NDTA has
recruited an extra fifty two full time driver training officers.
We've got nineteen tempre driver training officers, and there's more
in training at the moment, and of speeding up the
training process to get more people on the job at
the same time. So we're pulling all the levers to
get these numbers down. I get a lot of people
writing to me about how long it's taking for their

(39:07):
children to be able to get a driver license test.
My own sister who lives in Norkland, she's had to
go to Rhoda RUA. So we need to do everything
we can to get these numbers down.

Speaker 2 (39:14):
And that we've just been through it is just a
cartel because we had real troubles out took a what
do you call it, the defense of driving course? You know,
to speed up to get your license, and you can't
wring anybody. It's all online. You can't get to choose.
The guy we had was an idiot. You wanted somebody
who wasn't an idiot. They said, no, no, this is
the system. You do as you told. The whole thing
seemed gerrymandered and Soviet Union to me.

Speaker 20 (39:37):
Well, the NDTA is doing some work around the contracts
for the driver training or sorry, the driver testing. Those
contracts will be coming up for renewle at some point
I think next year, and so there does need to
be some work done around that. They will be making
sure that it's more efficient. But in the meantime, we
need to get these numbers down so that people can
get their driver license tests in a timely fashion.

Speaker 2 (39:57):
Do you know what you do? Do you want a
top tip?

Speaker 18 (39:58):
Simeon, I'd love a top tip.

Speaker 2 (40:01):
They refresh every hour for the people who have booked
and then drop out. You go on the top of
the hour and you get in. We got in the
next day.

Speaker 20 (40:08):
Oh that's it's fantastic.

Speaker 8 (40:10):
Top tip.

Speaker 20 (40:10):
And one of the other misiative they are doing is
actually ringing people before here and say are you actually
coming along because no shows is a big problem.

Speaker 2 (40:18):
That, by the way, was free from me to you.
You have a good day. Appreciate it. Sim And Brown,
who is the transport minutes. That's what we did. It
wasn't that hard. It's not to say it works every
time and don't text me and go. And that's because
that's who you are. It's got nothing to do with that.
They refresh every hour the computer. You just go to
the computer to ring them up. Straight afterwards, you said
you've got any cancelations, they go, oh, yes, we've got
one drop off, now go bang, We'll take it. Seven twenty.

Speaker 1 (40:41):
by News Talk zib Right.

Speaker 2 (40:48):
News from Chemist Warehouse off Turber catalog the sales on
there go and still go online whatever you like to do.
Huge range of summer deals across the vitamin's, cosmetics, fragrance
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two to five liter are now only thirty two ninety nine.
You can shop the Glow Lab range, which is currently

(41:08):
twenty percent off at Chemist Warehouse. Treat your skin with
love with the Biooil, skin care oil or the body
lotion that range starting for just nineteen ninety nine, and
wildly they pick up the oralb Pro one hundred deep
Clean electric toothbrush that removes up to one hundred percent
more plark than your regular toothbrush, now only thirty nine
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range that's exclusive to Chemist Warehouse and starts now from

(41:29):
fourteen sixty nine. Gotta hurry though, because the Great Chemist
Warehouse October Catalog. Those offers en twenty three October head
and store or online. But stop paying too much with
Chemists Warehouse Huski seven twenty three. So there are some
dumb games. Dumb games being played at the moment in
the very serious business of health. Health New Zealand is
in the red to the tune of about one point
seven billion dollars. That's for the year. They're over budget

(41:52):
by one point seven billion dollars. That's why Lester Levey
got to be Commissioner and all the others will let go.
Game one is the Labour Party. You have, of course,
zero credibility when it comes to money, acclaiming the one
point seven is because Health New Zealand is underfunded. Now
I have seen the budget on budget comparisons. They are
not aischeverol is playing with numbers in a Ginny Anderson.
Have you seen how many cops are on the beat

(42:13):
kind of way. Dumb game number two comes from the unions,
also with zero credibility around economics. They argue their equity
pay claim this was when we gave nurses a massive
pay rise i e. About four hundred million dollars worth
should not be part of the one point seven billion
because they were told it was coming from quote unquote
another pot. Sadly, other pots aren't real. What's real is

(42:35):
what it costs to run the health system. And what
it costs is more than they have. Hence they're in
the red to the tune of one point seven billion,
and part of the cost is what we pay nurses.
The culmination of the labor union dumb game is that
allegedly the government manufacturing a crisis. Now, the trouble with numbers,
generally speaking is they are what they are. We deal
with this daily with our bank banalances, don't we If
we're overdrawn, we are generally not manufacturing a crisis, or

(42:59):
generally we haven't been underfunded. We're just overdrawn and we
need to live within our means. The unions and the
Labour Party have never really had any trouble living beyond
their means, of course, and this is why more broadly speaking,
economically we've had three recessions in two years. We have
not and still don't pay our way. So the good news,
if there is any, is that at one point seven

(43:19):
billion a year, surely, surely there's a lot of waste
in there somewhere. I mean, of Eric Stanford can find
one hundred million on a Mari language course that was
producing little of anything. Law only knows what you can
find in the thirty odd billion of health money. So
the most valuable skill we can bring to such matters
at the moment is realism, economic realism. We are broke,

(43:41):
we are overspending and fudging numbers and playing dumb games
doesn't help. Pasking Mike Armor driving testing officer extending the
overseas conversion times as nuts. They should be three months max.
A lot of these folk are failing their tests on
average six times. My daughters set are restricted yesterday and
past well done director said there were fourteen no shows

(44:01):
in the last two weeks and that's just in twerpo.
So yeah, there's a lot they can do. Then I
come to the Bordeaux Bakery, Bordeau Bakeries and Wellington Is.
I'm sure you're well aware they've seen a sixty to
seventy percent drop in revenue. They've got three outlets, they're
all closing, gone done, thank you. How long they've been
around They've been around for thirty years, thirty year businesses.
Another one in Wellington Ball three in this particular case
a closing shop follows Pandoro told you about them the

(44:23):
other day. Thornton Key, Featherston Street, lambdon key. What's the
problem They're closing Sunday, by the way, so get your
chibata before then. What's the problem the council. You can't
get to them. Between the cones and the bus lanes
and all the other bollocks, you just simply can't get
to them. So once again we're reminded of what a
cluster Wellington is, and generally speaking of the New Zealand economy.

(44:43):
And yet, and yet, I tell you the story of
Opal Khan. Now, Opal Khn's a very well known Australian entrepreneur, restauranteur, chef.
He's closing his businesses across the Tasman as well because
the food costs have gone up. They can't increase the
price as they charged the customers. The wages are up,
the interest rates are up. He tried to open a

(45:04):
cheaper version of what he originally had, can't do it.
No one's buying. So the Australian economy is just as
bad there in terms of prosper So if you think, oh,
no hospital in New Zealand's a disaster, good old Australia,
that'll know it's just the same there. You can't make money,
is what he was telling the Australian Press. Yesterday, so
bad here bad unfortunately there as well news for you

(45:26):
and a couple of moments and then it's Leicester's turn.

Speaker 1 (45:30):
Big news, bold opinions, the Mic Hosking Breakfast with Bailey's
Real Estate, your local experts across residential, commercial and rural
news togs had been.

Speaker 2 (45:40):
Mike my Son was rejected three times for his driver's
license in Auckland, every time for virtually nothing. Things were
definitely not road code misdemeanor. So we decided to go
and pick somebody in Cambridge for his fourth test. He
flew through. There are other issues with driver licensing in Auckland,
bullying young people and wasting everybody's time. That's our experience,
to be honest with you, and anybody who's had kids,
and we've had five of them and gone through the

(46:02):
test knows full well that the variation, the level of
variation as to what you can and cannot get away with,
depends on the day, on the person, and basically where
you take it. Twenty three minutes away from eight well
as its Wednesday, Mark Mitchell, Ginny Anderson back with us
after eight o'clock. This struning back though to health, more
insight into the troubles at Health New Zealand. We've got
a four hundred and fifty page dump yesterday that gave

(46:23):
insight and to tentions about the place. And that's before
we get to the red ink, which is into the billions.
Of course, the man who will fix it all is
Commissioner Lester Levy, who is with us. Very good morning
to you morning, Mike. You're making headway.

Speaker 21 (46:35):
Yes, we're starting to make progress. I think that on
the financial side, we've stabilized the situation and starting to
get relatively small but meaningful reductions. And what stands in
front of us is the cost out program, because first
of all, stabilize the finances and then reduce it. Just
to remember that this is not a random cost reduction,

(46:58):
this is just bringing a back to budget because the
problem has really been a beyond budget expenditure.

Speaker 2 (47:05):
Exactly have you been able to do that comparatively speaking,
given the size of what you're dealing with easily? In
other words, are the savings there to be had if
you look.

Speaker 21 (47:15):
Yes, I think the savings are definitely here to be made.
It's always challenging and difficult in a large organization, and
also there's a lot of process that we have to
follow because that's really important. So you know, timing is
always a challenge. Time is not my ally on this,
but look, it's all it's all possible. I think the

(47:38):
underlying issue I Mike, is that I'm driving a process
so that the public can get the benefit of the
constant increases in funding into the health system. And so
we have had increases in funding, increases in staffing, and
the outputs have only increased relatively restively small increase in

(48:01):
output and that's not going to get the waiting times down,
which is what patients want to need.

Speaker 2 (48:07):
So just reiterate what you just said, because Aishavira will
argue with you. There is an increase in funding. She says,
this is a manufactured crisis. The whole thing's underfunded and
you're not getting the money you used to get. She's wrong,
Is that correct?

Speaker 21 (48:19):
Yeah, so this is not a manufactured crisis. Actually, the
health expenditure has been increasing year on you for many years.
We currently have a revenue into health New Zealand at
a higher level than any time previously in the health system,
including through the height of COVID. And not only that,

(48:40):
we've got a one point four to three billion dollar
uplift this year on operating cost and a one point
one billion uplift on capital costs. That's a significant amount
of money that we need to get value for. So no,
there is an increase, So it'd be completely wrong to
say that anything is contrived. Look, there's a lot of

(49:03):
political issues, there's a lot of arguments, there's a lot
of different perspectives. I can only deal with their reality, Mike,
And there's an amazing ability in health to take the
anecdote and generalize it. I'm dealing with hard data, and
what that tells us is that difficult as it is,
there's an opportunity to get patients more out of the

(49:23):
resources we already have, and we need to do that
because those patients, their families and communities need that, deserve
that and should get that, and we want to exactly right.

Speaker 2 (49:32):
And that's good to hear. How much of this and
what you're facing is politics and is blown out of proportion.
Whether it be the Ayshavial line, whether it's the union
line about the four hundred million dollars for the pay
equity coming from some other pot and they're confused, or
whether it's the recruitment on the front line that is
or isn't being adhered to. How much of its people
pushing back for political.

Speaker 21 (49:53):
Reasons, Well, I think a lot of it is people
pushing back for vested interest or their own beliefs or
whatever you however you'd like to define it. But for example,
the pay equity, that's a timing issue, so that's not relevant.
So it could have come earlier, it's come now. That
doesn't make a big difference to what really worries me,

(50:15):
which is a recurrent cost structure. That's our problem that
we have a run rate deficit of around about one
hundred and forty to one hundred and fifty million a
month that we're losing and we have to stop that.
The other things I think our side shows. I think
that what is really quite important is how did this

(50:36):
actually unfold because somebody of myself, I'm dealing with an
inherited problem. We did not create this problem ourself, and
that's always quite difficult. But if I could maybe just
address the staff in because that comes up a lot.
You know, it doesn't matter where you are in healthcare,
wherever you are in the world. People al as you know,
there's always impetus to get more staff, and we want

(50:57):
to have a good amount of staff. In the year
just finished twenty three twenty four finished in June, we
added to Health New Zealand more staff of all professional
groups than any time in the last eight years. It's
only as far back as we went. We could go
back further, but the number in twenty this last year

(51:19):
is equivalent to the number in the prior to years
added together. And the number of nurses were added in
this last year is more than the total amount of
all professional types in any of the two prior years.
There has never been an uplift in ft full time
equivalents as there has been in this last year. So
that doesn't meet with the prevailing narrative.

Speaker 2 (51:39):
No it doesn't. And you don't hear what you've just
heard widely enough you hear from the unions. Now, do
you feel your winning slowly?

Speaker 10 (51:47):
Well?

Speaker 21 (51:47):
I think I wouldn't use the word winning at all
in this concept. I feel that we are making progress.
We need to mobilize before we can get as much
momentum as we would like. But my motivation, my mission, Mike,
is to get patients, families and communities what they need
and deserve. There's been a huge amount of money that

(52:09):
has gone into the health system in recent years, hugely significant,
and I don't see the public benefit. I think that
is the number one question. Where is a public benefit
for all of that money. We shouldn't have patients waiting
as long as they are for all sorts of important services.
The shortest weight is the safest wait, and that's my objective.

Speaker 2 (52:31):
Good stuff, good to catch. Uppreciated very much and good luck.
Lester Levy. The Health Commission is sixteen minutes away from
eight tasking headline. Public health experts fear critical programs for
disease prevention and detection could be lost or downgraded with
looming budget cuts at the National Public Health Service. These
you Radio New Zealand headline aischaviral with a press release.

(52:53):
That's where they got the headline from Asia rang them.
The government has manufactured a financial crisis to justify stripping
back the health system. These cuts are affecting patient care.
The government said it wouldn't touch the front line, but
it has broken that promise to far. To Ora's internal
budget shows all four regions of New Zealand are getting
less than the previous year of between about six percent

(53:15):
and fourteen percent, an average of nearly nine percent across
the country. That's the bit that's wrong, the bit that's right.
Next sixteen to two.

Speaker 1 (53:25):
by News Talks at behere.

Speaker 2 (53:31):
It's certain away from it. So you heard the labor
claim and as run by the media once again. So
here's here's what the government said. They initially said she's
taking math lessons from Ginny Anderson. But be that as
it may. Labor have compared twenty three twenty four actuals
to twenty four to twenty five budget. You've got to
compare budget to budget, and Health New Zealand says budget

(53:52):
allocations have actually increased across the regions by a round
about six percent. As you heard from Lesterra moment ago.
You're going to remember Lester Leeby's not a politician, is
not there to play games. He's there to fix a problem.
He's a businessman. So if you want to look at
the Northern Region, it's up eight percent. This is funding.
The corporate area is up three percent, mid Central Region
up seven percent, Central Region up seven percent, Southern Region

(54:12):
up seven percent, and overall the total budget. You're talking
twenty eight point seven billion dollars. Billion dollars is up
nine percent. There is more money going to health. That
nurse's story, which I had heard before, is true and
is not covered in the way that it should be.
I heard Malcolmer holland now I got a bit of
time for and he's a health advocate. He's seemingly a

(54:33):
very likable guy. But he was on Ryan's program earlier
on this morning and they're talking about the number of
jobs and he says it's bullshit. Now it's not bullshit.
There are more nurses in this country, and we know
that to be a fact. What he may be indicating
is that there might be some areas of the region.
For example, you get one hundred people into the country,
they're not distributed in a way that evenly matches out
to all the problems. That might well be part of

(54:54):
the issue. But there are more people in the system,
and there is more money in the system. All you
hear when you' you deal with this sort of politics, unfortunately,
is there are people who don't want to hear the truth.
They've got an agenda, and unless you're agreeing with their
agenda or presenting figures that suit their agenda. They don't
want to know.

Speaker 20 (55:12):
Mike.

Speaker 2 (55:12):
I've been fortunate enough to attend one of Lester Lebey's
university courses. He's a fascinating, highly intelligent New Zealander and
we're all fortunate to happen. One of the weird things
I noted in media coverage of Leicester Levy. There's another
advantage of for having been around a while. Lester Levy's
been around forever. He's been around thirty plus years in
the health area and is a very very successful, highly

(55:32):
intelligent individual. So it was with great dismay when he
suddenly came back into the public eye a couple of
weeks ago as the commissioner. Everyone was calling him Levi
as though they'd never heard of him, which of course
they hadn't. But that's the problem with the lack of
institutional knowledge of these days. Sadly turn away from it.

Speaker 1 (55:49):
On my cost, gilbreakfast with the Jaguar f Base News
talks head.

Speaker 2 (55:54):
Ben away from Itte. So we've got a squad name
for the League Pacific Championship. But as the Keys take
on Australia and Tonga later on this month, there are
questions being raised about the length of the season and
the shape the players are in. The key we selected
tell it a Nicka is with us on all of this.
Timet a good morning, Good.

Speaker 15 (56:08):
Morning, Mike. Great to be on the Number one breakfast show.

Speaker 2 (56:10):
And you's a very kind of you to say. So
the international window and its relevance to the game itself,
is it a problem.

Speaker 15 (56:18):
It is a bit of a problem in terms of
too many games in the NRL. At the weekend, I
was over at the Grand Final and talking to a
couple of people around what that season looks like and
how we can maybe change it. But because of the
twenty seven rounds, Mike and the players play at such
an intense place, it does become a bit of a
problem at the back end of the season.

Speaker 2 (56:38):
So what do you have to deal with it. It's
not a lack of willingness from the players, it's just
the state they're in.

Speaker 15 (56:45):
Pretty much in terms of the current status of the
game and with the NRAL in terms of the number
of matches they play. It'll be interesting to see what
happens over the next couple of years in terms of
how that's going to map out, because there is some
talk of reducing the number of games during the season,
especially in the NRAL. And if you see the players,
we've got probably about five or six players that played

(57:07):
last year that are unavailable for our team through injury
at the moment, so it is a bit of a problem, Mic,
But in saying that, it's an opportunity for a lot
of the younger guys coming in and twenty seventh of
October in your hometown of christ Church, we have the
Kiwi Ferns and the Kiwis playing rugby league back in
kross Chet, which is fantastic.

Speaker 2 (57:25):
Going to be super exciting. So it does in fact
become to a degree of blooding experience. In other words,
you get a few people that might get an opportunity
that under other circumstances might not have.

Speaker 15 (57:35):
Well we've seen this year, Mike. There's a couple of
young players that we had in the squad last year
that didn't get the opportunity to play. Guys like Keanu Kinney.
They've played at the Gold Coast Titans. Now you would
have seen him carve up the Warriors there Mica one
season the fullback from there who was outstanding. Also, Will
Warbrook played for the Melbourne Storm in the Grand Final
on the wing in the final, he gets an opportunity

(57:57):
in the squad. So it is definitely a blood the
experien but a great opportunity for the new coach Stacey Jones.

Speaker 2 (58:03):
You've got any indication as to how good Australia and
how good tong are, well, you.

Speaker 15 (58:08):
Know we beat Australia thirty to nil last year. Now
that doesn't happen very often, but I know that melman
Linger is still hurting from that loss last year, so
they're going to come be very aware of the wounded
Kangaroo tongue. Mate. They've got outstanding team. A lot of
those top players that are playing in the Tongan side

(58:28):
are going to be very competitive. They should be a
Tier one nation. And the Australian side, you know, melman
Linger's packed the guys that paid really well in Origin
and guys that have paid really well in the Grand Final,
namingly most of the Penrith players in terms of that.
So those teams are going to be up to the
game in representing Australia. And the great thing about Peter

(58:49):
Velandi's is he's really brought back this the international game
which needs to be at the forefront, so you know
all aug is well to that, but it's going to
be an outstanding.

Speaker 2 (58:57):
Series, fantastic go well, well, good to catch oppreciative room
might tell to Nick who's the key we selected these days?
Four minutes away from eight. Speaking speaking of the NRL Final,
it got beaten in the ratings. They got the ratings
out yesterday for the two weekends. So you had the
NRAL Final last weekend. He attracted five point three four
nine million. That's Australian viewers. But the AFL, which gives

(59:20):
you an indication is really how problematic rugby is in
that particular part of the world. The AFL got six
point two, so six point two versus five point three,
So AFL wins every day. Mark Mitchell and Jenny Anderson
Politics Wednesday, and actually speaking of Australia, there's an interesting
new poll out this morning day of blaming the government
for the cost of living crisis. And that's before you

(59:42):
get to the various other issues they've got around the
business of the Palestinians and the protests and the cost
of so all of that to be covered with Steve
Price after thirty the morning, absolutely no reason to go
anywhere then.

Speaker 9 (59:53):
Demanding the answers from the decision makers.

Speaker 11 (59:56):
The Mic Hosking.

Speaker 1 (59:57):
Breakfast with a Vitati, in communities, life your Way, news
talksa'd be.

Speaker 11 (01:00:04):
Less, that's forever, take me away. It's not a me
but baby. If you say no, living in my misery
Heartstock Cabriy Blast, you can have it all.

Speaker 2 (01:00:30):
Some indication that some of the material on this new
album was written during the making of his previous album,
which was called gold Digger's Sound. I can't confirm all
the night. That's just the word I've heard. Anyway. The
album is called Leon by Leon Bridges, which is what
I would call my album. That would be called Mike
Cli Mike. But I'm not making an album at the moment,
So let's about me, more about Leon. Thirteen tracks and

(01:00:51):
forty two and a half glorious minutes of the slightly introspective,
perhaps even melancholy sound in a small has a been
as pasted a type of politics when to say, Mark Mitchell,
Ginny Anderson, good morning to you. Good morning now, Mark, Mark,
the blueprint you're in derned and taking a bit of heat,
and I'll come back to that. But the blueprint and

(01:01:12):
the buyout and stuff. This blueprint that you talked about
for the people who got flooded, is that a new
blueprint or is it part of the ongoing conversation that
we've had in places all over the country that get
flooded where it might be the council's fault, it might
be the governments, it might be the individuals.

Speaker 10 (01:01:26):
What is it now? Look, first of all, blueprint's not
words at all.

Speaker 5 (01:01:30):
That's the words of a journalist and it always sort
of gets picked up and attributed to the to the politician,
but it's not. We're doing a lot of work around.
There's a big edit, a lot of work being done
around adaptation plan that's been led by Simon Watts. I'm
doing a big piece of work around our legislation to
make sure that's fit for purpose and sets us up

(01:01:51):
as a country to be able to have a really good, strong,
comprehensive response to these weather events.

Speaker 10 (01:01:55):
That we keep getting hit by.

Speaker 5 (01:01:57):
Daned, I just want to give a shout out right
from the the controllers, all the volunteers, everyone that turns
out and dealt with the flooding events in Otagu, the Mayor's,
the chief executives, and especially for South Dunedin. The people
that were running the pump stations, they did an outstanding job.

Speaker 2 (01:02:15):
I was talking to Luxon yesterday about that off air,
but are those pump stations better, new, bigger because it
all seemed to work given the circumstances reasonably well.

Speaker 5 (01:02:26):
There was upgrades lessons learned from twenty fifteen. But you
know the way that they manage those pump stations, the flows.
They've got big screens that they have to get physically
clear of debris.

Speaker 10 (01:02:37):
They did that right throughout the rain event, right through
the night.

Speaker 5 (01:02:41):
And I do want to really specifically acknowledge the guys
and the girls that run those pump stations because though
often invisible to the public, but in my mind, they
made sure that the damage in the South to Need
in particular was limited.

Speaker 2 (01:02:55):
Is there something, Jinny, you guys could in this age
of where allegedly supposed to be on the biggest sho
kind of looking to agree with each other. Is it
potentially something that you could coalesce along the lines of
At some point we need to have an understanding in
this country with whether events that somewhere the government fits
in somewhere. It's a council somewhere, it's the individual and
we should have a set plan so we all understand
where we're at.

Speaker 22 (01:03:16):
Well, it's funny you say that, Mike, because we did
have one and that was all about in its retreat
and about how we deal with situations, particularly post Gabriel
and Dunedin was in that mix. It was aig piece
of working place that got put on the scrap peep
with the cuts. And when the Prime Minister was asked
about that specific to duned and he didn't even know

(01:03:38):
that that program of work had been cut. So then
when you come out and say right Combo Alex old
hands cross party agreement, there was stuff in place going
on that was cut that the Prime Minister didn't even
know about while he was standing in questions.

Speaker 5 (01:03:52):
Well, the reason why neither I nor the prome miist
knew about that is because that was a proposal put
to the previous government that you reject.

Speaker 10 (01:04:01):
Three. It was not work place.

Speaker 22 (01:04:03):
There was bookham Place, work countsels, managed retreat.

Speaker 2 (01:04:07):
It's just.

Speaker 22 (01:04:09):
I don't think you're across your brief, might Mark, you
need to check your brief.

Speaker 2 (01:04:14):
So so glad I raised this particular issue having said
that Dunedin as well, I just happened to know Dunedin
particularly Well, that's all South. The Needin's been a problem
forever and the managed to retreat thing you talk about
Ginny has been a conversation for a long period of time.
It just to me, Mark giving you running the place
at the moment strikes We've got no further down the track.
It's just like a I mean, we go back to

(01:04:35):
the Auckland anniversary stuff and there are still people trying
to get sorted out somewhere in there. It's their fault,
council's fault, government's fault. We don't seem to have moved
the needle much.

Speaker 10 (01:04:45):
No, Well, in terms of the recovery, we've definitely moved
the needle.

Speaker 5 (01:04:48):
And you know, I'm hoping that there's been a big
focus for me in terms of categorizations and buyouts.

Speaker 10 (01:04:54):
We're going to have most of the biots completed by
the end of this year.

Speaker 5 (01:04:57):
You've always got the very small, tricky and comp caterd
ones that take a bit longer to sort out, often
driven by the homeowners themselves, who, of course you understand,
you know, the anxiety and the stress associated with that
is is terrible. But look that in terms of managed retreat.
I get around all the councils. We've had six local
states of emergency since I've been minister. They are very
aware of what they need to do and the plans

(01:05:18):
that they need to have a place in terms of mitigation,
reduction and starting to manage that.

Speaker 10 (01:05:22):
So there's a big piece of work going on.

Speaker 5 (01:05:23):
Like I said, Simon Watts is doing a massive piece
of work around the Edittation plan. I'm doing a big
piece of work around new legislation that's going to set
us up as a country. And by the way, I
do agree with you that it should be by partisan
and I took Camilla Bellich, who happened to be in
Dunedin who is the Labour spokesperson, with me and made
sure that she was included in all the briefings and
was completely aware and across how the response was unfolding.

Speaker 2 (01:05:47):
Indeed, just hold on car care and go Jinny.

Speaker 10 (01:05:51):
I was going to say.

Speaker 22 (01:05:51):
The big point is that there are parts of New
Zealand where people live now that will continue to be
hit again and again. And the difficult question, no matter
who's in power between central and local government is how
you deal with people who are living in those places now,
the roads, the infrastructure, all of those things, and what
are we going to do in the next twenty years
to try and make those communities safert who's gone to?

Speaker 2 (01:06:13):
Which one of you two has the crockery? Which one
of you two's got crockery?

Speaker 10 (01:06:18):
Crockery I've got, so I think, who's got a cop
to mother's old crockery?

Speaker 2 (01:06:22):
Who's got a cup of tea? At the moment, somebody
said some.

Speaker 10 (01:06:25):
And so I'm sitting outside. I'm in a beautiful turning
with terror on today.

Speaker 5 (01:06:31):
I've got a series of meetings here and the staff
just brought me at this beautiful cup of coffee at.

Speaker 10 (01:06:38):
Yeah, I've got a nice flat watch.

Speaker 2 (01:06:39):
So you've got a nice FLT right. Where are you?
You're on the corner of seventh and where are you?

Speaker 10 (01:06:45):
I me at the Trinity Hotel in oh.

Speaker 2 (01:06:48):
It's just going to get some people to honk along
the way if they saw you. That's all more in
a moment. Mark Mitchell, Ginny Anderson, thirteen past eight The.

Speaker 1 (01:06:54):
Mike Hosking Breakfast Full Show podcast on iHeartRadio.

Speaker 2 (01:06:59):
It by News Talk Talks sixteen past eight Politics Whensday,
Mark Mitchell Ginny Anderson Ginny as regards the need in
hospital and the Prime Minister, as you will have seen,
got a bit of pete about that the other day.
If the numbers are right, and they appear to me
from what I've been seeing that it is three billion,
if in fact not more, would you still go ahead
and justify that three billion? Or would you do what

(01:07:21):
the government has done and go lovely to do it
but we just simply can't.

Speaker 22 (01:07:25):
Well, it depends on what timeframe you do that. So
in projects like in the Hutt Valley where we've had
them through inflation and a bunch of other things go
over priced, the question is how long you take to
do them. And you can do them in stages and
you can fund it. So those sorts of decisions you
really need to be over the numbers to be able
to say.

Speaker 2 (01:07:42):
But isn't that part of the problem though The longer
you go, the more risk you run and the thing
blown out.

Speaker 22 (01:07:47):
Well, it depends on what's needed now, and some of
the compromises that have been made are not sitting well
with that community because they feel that they're not getting
their health.

Speaker 10 (01:07:55):
No I get all of that share, they need.

Speaker 2 (01:07:58):
No one disagrees with the fact that it's a shame
that we can't build three billion dollar hospitals. But if
you accept the numbers and they do appear to be right,
would you spend three billion and fair enough or would
you say, look, one point nine is it we can't
afford anymore?

Speaker 22 (01:08:13):
Well, I'd be talking to Barbara Edmonds because she does
she does finance a bit better than me. So I'm
not going to make that commitment on your radio station
right now. But what we would do is make sure
we don't give things like tax cuts to landlords of
two point nine billion, because that's a waste of money
when you could have had a hospital for people.

Speaker 10 (01:08:29):
Okay, So does that mean is it so you're going
to reverse that policy? A jinny?

Speaker 22 (01:08:33):
What two point nine billion dollars were the tax cuts
for landlords?

Speaker 10 (01:08:36):
Yeah?

Speaker 22 (01:08:38):
Well, that that that in place is something I'm not
going to make caucus decisions on live on radio. But
we don't think that's a good spend of money. That's
a poor choice that you.

Speaker 10 (01:08:47):
Won't to reverse it.

Speaker 5 (01:08:48):
Look at the end of the day, Mike, as simple
as it's as simple as this, we are going to
deliver a world class hospital.

Speaker 10 (01:08:54):
You are not.

Speaker 5 (01:08:56):
It's going to be one point. No one believes that,
not three billion. Well I think people do, because actually
we've got a track. We could have delivery. People protested
in the street and that's and that's what we're focused on.
We're focused on delivery. We want to deliver that hospital
and we're going to get on.

Speaker 2 (01:09:10):
You Mark, When you talk to the people in Duneda,
I mean I can't get my head. I mean, yes,
they're disappointed, and I would argue they're going to every
right to be disappointed because they have a promise something
they're not getting. I get that part, But do they
get that we just don't have the dough if we
did fantastic, we don't.

Speaker 10 (01:09:28):
Look, I'm not going to speak for the people in
to Need and I've been down there.

Speaker 2 (01:09:31):
You ask you when you go unto town, don't you
know take your flat. I'd up to a couple and
ask a few questions.

Speaker 5 (01:09:37):
So I spent a lot of time with them. The
hospital was not raised once with me personally, but I
was there and you know, helping with the response obviously
to the to the flooding events. Some people came out
and protested open democracy. That's great, that they can do that.
We are going to deliver a world class hospital. We're
going to deliver it for one point nine billion dollars,

(01:09:58):
you know, and that's just we cannot afford as a
country a three billion dollar hospital. And we've just been
very honest, very clear about it. What we focus as
a government and doing is actually delivering it. You've had
of labor government six years hasn't been delivered. We want
to get it delivered for the people of a Tiger
and to leading.

Speaker 2 (01:10:15):
All right, are you by the Infinity Pool? By the way?

Speaker 10 (01:10:20):
Am I what? No, I'm not. I'm out the other side.
It's a beautiful day here today.

Speaker 2 (01:10:23):
It's a beautiful day. It's a beautiful Infinity Pool as well.
I had a birthday party there once, did you you?

Speaker 10 (01:10:30):
Oh yeah, I think there's some photos of your birthday.

Speaker 2 (01:10:35):
That's nice to say you both again, Mark, Mark Mitchell
and Ginny Anderson. It's eight twenty the breakers with news
talks now. If you're in the Kiwi Saber and most
of us are consuming. New Zealand recently did their annual
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(01:10:56):
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that you're if you're into this business. And we touched
briefly on Monday, and that is the threat from Google
that they're going to drop services in this country if
we force the government passing piece of legislation by the
end of the year and they force mediation between your

(01:12:03):
big tech companies and local media. Local media under the
belief that if we get deals done, money's going to flow.
It will save media and suddenly things won't be as
dire as they are. Eric Crampton, who is the chief
economist for the New Zealand Initiative rights a very very
good piece on the Newsroom site. Canada's example shows how
link tax will fail. Now I won't explain what he

(01:12:24):
calls link tax, but he works whether it is or not.
There's a debate as to whether this is a link
tax or not. But he starts off by saying New
Zealand moves inexorably from the fath around to the find
out phase of the Fair Digital News Bargaining Bill process.
The sad thing about this particular bill is one the
government a dragged, kicking and screaming, if not that at

(01:12:46):
least partially reluctantly into this. Paul Goldsmith is not a
massive advocate. I don't think for this because I think
he understands like many of us do. Although we would
all agree that big tech rips off product and sticks
it on the sites, and they make money off it
from other people's work, and that's not right. The way
around it is not this piece of law. And more importantly,

(01:13:08):
no one's found a way around it. They haven't in
Australia and they haven't in Canada. Hence the reference to Canada.
Google would be forced, he writes, to stop linking to
news content on Google Search, Google News or Discover services
in New Zealand and discontinue our current commercial agreements and
ecosystems support within the New Zealand publishers. Now that is
the threat from Google. Are they good for the threat?

(01:13:29):
I would argue they are. How do we know this
because they've done this in Canada. If after a maximum
of one hundred and twenty days, this is how it works,
This is mediation. If after our maximum of one hundred
and twenty days no agreement has been reached, negotiations end.
Mediation begins. If the platform in the news company cannot
agree on a mediator, the authority designates one that sections
thirty four through thirty nine. If mediation is unsuccessful, final

(01:13:52):
offer arbitration follows. Each party nominates an arbitrator and jointly
nominate a third arbitrator. The authority chooses arbitrators if it
doesn't consider the nominated ones to be appointable. Under final
offer arbitration, both sides put up their final offer. The
arbitration panel selects the offer that it views as fairly
compensating the news company for its content being made available.
This is section forty nine Brackets two. Why am I

(01:14:15):
telling you all this because, as Eric quite rightly points out,
none of this is proper commercial negotiation. You're forced into it.
Proper commercial negotiation is the willing buyer and the willing
seller coming together. And then he goes on to argue
about the link tax. Then he goes on to give
you examples of Canada, how it hasn't worked, how it's
been a complete cluster, and how it's going to end

(01:14:36):
up exactly the same way here. So, if you've been
following this topic, it's a very good piece of reading
and well worth informing yourself with. Use it a couple
of moments. Then we'll cross the Tasman to Steve Price
and Anthony Albaneze's many many worries, your.

Speaker 1 (01:14:55):
Trusted source for news and fews the my Hosking Breakfast
with the Jaguar f base cut from a different cloth
News Togs Dben.

Speaker 2 (01:15:04):
Mike, I haven't heard any media coverage of the debate
on the treaty principles that David Seymour spoke at last night. Well, one,
it's online readily available to you. Two, it was in
our news about two and a half minutes ago, and
three if you want to read about it, there's a
precis of it in the Herald. You're just going to
look for this stuff, Mike, Dunedin Hospital surely the question
you need to put to would need and get what
would darned and get for three billion and what they

(01:15:25):
don't get for one point nine? The discussion about numbers
is waste of time. If we don't know what's been
chopped ray. We do know what's been shopped because that's
been covered in the news as well. It's just a
matter of looking to find it. One of the concerns
is the number of beds. The argument is that the
number of beds in the new hospital is not going
to be as many as the number of the beds
in the old hospital. They'll be better, newer beds, but
there won't be as many beds, and that's concerned at
the moment. But basically what you're getting is just less hospital.

(01:15:48):
Twenty three to.

Speaker 9 (01:15:49):
Nine International correspondence with ends and eye insurance, peace of
mind for New Zealand business.

Speaker 2 (01:15:55):
See right.

Speaker 15 (01:15:56):
Whether it's out of Australian boding mate, hey them?

Speaker 2 (01:15:58):
I so the motion part is in the end. This
was the anniversary eighty five eys and fifty four knows,
but I think Dunton won the day, didn't he?

Speaker 12 (01:16:07):
He sure? This is the motion of course in regard
to October seventh, the anniversary of what happened in Israel
on that terrible day. Peter Dutton went to the Prime
Minister's office yesterday morning with an idea of emotion that
they could put together both parties, both major parties, and
put to the parliament no drama there and it would
have passed unanimously. But Anthony Alberinezi decided he would change that.

(01:16:32):
He then made a speech in Parliament and talked also
about the conflicts, brought a toll in Gaza and Lebanon,
so that triggered a really bitter split. Negotiations broke down
before it even got to Parliament. Peter Dutton accused the
Prime Minister of quote speaking out both sides of his mouth,
and Jewish groups joined in saying Labour's quote moral clarity

(01:16:54):
on Israel lasted just one day. You have a Minister
Mark Butler who's speaking out strongly around the Israel issue.
But we then have people like Labor Friends of Israel
Convener Mike Kelly critical of the government's motion, saying it
would have been more appropriate focus solely on October seven.
The history on all of this, of course, is that

(01:17:15):
Labor in the past, and particularly Labor's right faction, have
been strong supporters of Israel, going all the way back
to Bob Hawk, who had a very strong relationship with
senior Jewish businessmen in Australia and with Israel itself. And
so this is now causing a major problem for the
Labor Party because on their right flank they've got Jewish

(01:17:37):
Australians appalled at the way they're handling this situation, and
on their left flank they've got Muslim voters in inner
seats in Sydney going well, hang on, we don't like
what they're doing in regard to the Israel Garza conflict,
so we're not going to vote for them either. So
they're getting wedged right.

Speaker 10 (01:17:54):
In the middle.

Speaker 2 (01:17:55):
And this is where Fatima Payman comes in among others.

Speaker 12 (01:18:00):
She's been forced to quit the Labor Party. She's going
to talk about putting together our own political party. It
won't really get much support, but it does again show
the split in the Labor ranks. The Labor Party is
split right down the middle. You've got Anthony Albanesi to
Prime mins depending on the Foreign Minister of the Socialists
left and on the right side of the party you've
got right leaning Labor MPs I feel uncomfortable about what's happening,

(01:18:23):
including Melbourne MP Josh Burns, who is himself Jewish. So
Anthony Albanese is in a world of pain here. And
what it goes to is that core feeling now around
Australia and it's starting to come out in Poll's Mike
that Anthony Albanesi is a weak leader who doesn't really
know where he wants to take the country.

Speaker 2 (01:18:41):
Just for the record, once you're given you you've gotten
a Stute and Tenor on this sort of thing. This
payment woman who's clearly a bloodger, but she hasn't named
a party. She's about to launch it officially. Blah blah blah.
What does she end up getting? Is she a one
percent to two percent of do they get several people
in the Senate? How does that unfold?

Speaker 18 (01:18:58):
You think? Waste of time?

Speaker 12 (01:18:59):
She won't even re elected herself.

Speaker 2 (01:19:02):
So then Elban Easy, and this strikes me as an
underpressure thing, starts talking about turetts and the opposition. You
only say that sort of stuff when you're feeling it,
don't you.

Speaker 12 (01:19:12):
Yeah, And this happened in question time yesterday. He was
taking questions and responding to a question about whether the
Labor Party, if they were re elected, would start taxing
the family home, which clearly they're not going to do.
But it got under around in the Alban Easy's skin
and he stood up and he appointedly said of the

(01:19:33):
opposition treasurer and Treasury spokesman Angus Taylor, what's your story?
Have you got Tourette syndrome or something? Now he realized
immediately he'd made a mistake, but he in fact withdrew
the comment, but had to go back later after question
time to make an apology. He said today in question time,

(01:19:54):
I made comments that were unkind and hurtful. I knew
it was wrong as soon as I made the comment.
I apologized and withdrew, but I should not have said it.
I want to apologize to all Australians from this disability.
I regret saying it was wrong, insensitive and I apologize Now. Turrets,
as we know as a neurological disorder. It's on the
spectrum of conditions known as tick disorders. And you've already

(01:20:17):
got TURRETS organizations saying a Prime Ministers being insensitive when
he talks about it. I mean in general terms, I
would have said, looking on it, just made a mistaken
it's no big deal. But in the context of the
day he had yesterday, it's not something he.

Speaker 2 (01:20:35):
Needed no exactly. What's the name of the street.

Speaker 12 (01:20:39):
Well, this is a little country town which you'd love,
called Panola in the southeast of South Australia. They make
the most magnificent red wine. That's why you'd love it.
It's right in the middle of the Kunawora wine making
area and they've got a little lane way there.

Speaker 10 (01:20:51):
Now.

Speaker 12 (01:20:52):
One resident let me repeat. One resident wrote to council
complaining about the name of the lane, saying they are
embarrassed to live in such a lane named the way
it is, and the councils now looking at whether they
might change the name of Chinaman's Lane. Now, Chinaman's Lane

(01:21:12):
is a one point three kilometer stretch of road once
used by Chinese vegetable farmers selling vegetables to fellow Chinese
who came through Panola from a tara called Robe on
their way to the Ballarat goldfields. There could not be
a more appropriate name for that lame way.

Speaker 2 (01:21:32):
So what are they going to do?

Speaker 12 (01:21:35):
We'll probably change it, Probably will, I would think, given
how wope this country has become Chinaman's Lane, how could
you anyone get upset about that?

Speaker 2 (01:21:43):
Exactly? All right, mate, go well, we'll see you next week.
Appreciate it very much, Els steep Price. Just before we
leave Australia. By the way, they're looking at the visa.
This all goes back to the ankst that I was
talking about mainly yesterday on the anniversary. There's a guy
called Khalid Baden who's from Arizona State University, but he's
in Australia currently working at one of the universities. American
law professor gave a speech the other day that people went,
what's he saying that stuff for? And as soon as

(01:22:04):
one of the ministers heard he was on a visa,
so they having a look at his visa and may
well boot him out of the country. And then Middens,
who runs New South Wales, yesterday he's ordering a review
of the legitimacy of pro Palestinian protests because so far
he spent five million in the police in twenty twenty
four alone managing protests and he wants police to be
allowed to deny a request for a protest due to

(01:22:28):
stretch resources. So in other words, they say, look, you've
done six of these this year. It's cost us five
million bucks. We don't have any more money, we don't
have the resources. Because we don't have the resources, you
can't have your protests now. Apparently at the moment you
can't do that, but he wants that rule change. Sixteen two.

Speaker 1 (01:22:43):
The High Asking Breakfast Full Show podcast on iHeartRadio, Howard
By News talks at.

Speaker 2 (01:22:48):
B thirteen away from nine. We've had some problems this
morning in our Auckland AM transmission ten eighty and it's
been I don't know what happened overheated all the blue
fell off, or there was screw loose or somebody who
went to water blasted and fell over. Who would know.

Speaker 13 (01:23:03):
I wasssuing you'd sabotaged it to force everybody onto them.

Speaker 2 (01:23:07):
Anyway, we've sent the appropriate authorities out to fix it.
Best company of the week, I mean it is only Wednesday,
so I'm open to changing this before Friday. But the
best company of the week so far in terms of
accountability is Samsung, who yesterday from Asia collected nine point
or announced to the market they collected nine point one
trillion one. Is that very good? Not really, because the

(01:23:28):
market was expecting them to collect eleven point four trillion
tron one. Anyway, they wrote a letter of apology, and
you just don't hear this very often. It goes today
is what they wrote to the world today. The management
of Samsung Electronics would like to apologize to you. First,
we have course concerns about our fundamental technological competitiveness and

(01:23:48):
the future of the company due to our performances falling
short of the market's expectations. Many people are talking about
Samsung's crisis We who are leading the business are responsible
for all of this customers, investors, and employees. Samsung, however,
has always turned crises into opportunities. Having a history of challenge,
innovation and overcoming, we will definitely make the dire situation

(01:24:11):
we are currently facing an opportunity for a leap forward.
Our management will take the lead in overcoming the crisis.
Above all, we will restore our fundamental technological competitiveness. Second,
we will prepare for the future more thoroughly. We will
rekindle our unique passion to pioneer of the future without
fear and to cling to our goals until the end
and achieve them. We will re arm ourselves with a

(01:24:34):
challenging spirit to run towards a higher goal rather than
a defensive mindset to protect what we have. Third, we
will look again at our organizational culture and working methods
and immediately fix what needs to be fixed. You can't
argue with that, and I have no idea whether they're

(01:24:55):
capable of doing any of that, But God bless them
for owning up front footing and doing the right thing.

Speaker 1 (01:25:02):
Teen away from nine, The Mike Hosking Breakfast with a
Vita Retirement Communities News Togs vs.

Speaker 2 (01:25:10):
Haven't that time to mention, but in the States, Google
lost again. This time a US judge permanent injunction is
going to force Google to offer alternatives to Google Play
Store for downloading apps on Android. This is court in California.
Most significant outcome this is the Epic Games thing is
they've been going at this for since twenty twenty. Epic
b Google. They're going to form a three person committee

(01:25:31):
that will review technical issues related to Google's compliance. They
will be restricted from paying fees or sharing revenue with
companies in exchange for them choosing not to compete with
Google's app store all the stuff they've been doing. This
is Fortnite, the Fortnite maker, one of the biggest games
in the world. Assume it's one of the biggest games still,
isn't it? Anyway that accuse Google of anti competitive policies.
The judges basically Google can't do a whole bunch of stuff.
They're going to pay companies so they do not compete

(01:25:52):
with Google Play. They pay companies to pre install Google
Play blah blah blah. So anyway, I'm sure that will
go to another court eventually. Also, we get the news
yesterday that Oasis are coming to Australia, but not New Zealand.
I don't think they're going to get here. A couple
of shows already announced Melbourne October thirty one, this is
next year, and then Sydney seven, so they've got a

(01:26:13):
lot of time between the shows, which everyone's seemingly suggesting
will be filled with other shows off the demands there.
It'll be interesting to see if the demands there. To
be honest, in my humble opinion, Oasis were big for
one a short period of time and two largely in
bits of Britain possibly parts of Europe, but they weren't
a truly global band. I don't think happy to be

(01:26:35):
proved wrong. But anyway, had a discussion with a seventeen
year old who's busy finding work and saving money to
go to Manchester next year. Going a lot cheaper to
go to Sydney or Melbourne, but the vibe of going
to the birth of it all is what still drives her.
So mind you, she's got to raise the money yet, Mike,
I hope your kids learned to drive and emmanual know,

(01:26:57):
and that's one of the great changes of all the
changes in life, some of which really don't matter the
fact none of our kids can probably drive a manual
is of great sadness to me, and whenever I do it.
We inherited a car recently. It was a thirty year
old manual, and it brings me the greatest of joys
because it is truly one of those skills and I
drive it all the time, and it's one of those

(01:27:18):
things that once you've learned in a manual. And I
don't know why you wouldn't learn an a manual manu
because there are no manuals around anymore, and therefore you
can't turn up to a test an e manual car
because no one's got one. But once you learn an
a manual, you never forget. And it was and I
can't tell you how many years the gap was between
when I last drove a manual. It was probably a
little BMW I had about maybe maybe ten twelve years ago.

(01:27:42):
That was a fun week car, so a decade in between.
It was just like getting back on the back on
the bike, back on the horse, just like that five
speed manual. And it was the reverse is you push
the gear lever down to the right and down again.

Speaker 13 (01:27:58):
You see that there's that's cool. Then I see that's
one of the stupid things about it. It was never
the same in any vehicle that you got into, and
don't even get me into into the column shift on
a van, for example.

Speaker 2 (01:28:08):
Now the column shift is different. I thought the column
shift I used to. You know that my granddad had
the Kingswood. That's different. But the reverse the pick which
car has witch gear. So we had an avenger which
was left and up versus the one we've got at
the moment, which is down right and down.

Speaker 13 (01:28:25):
You don't want an element of uncertainty when you're having
to parallel park on a busy street.

Speaker 2 (01:28:28):
Who doesn't love a bit of an uncertainty. Four minutes
away from nine.

Speaker 1 (01:28:31):
Trending now use the home of Big Brands.

Speaker 2 (01:28:36):
Elon's been hanging out with Tucker Carlson doing his whole
I Love Trump routine. They got on to talking about
assassination attempts in the question whether Karmela was worth assassinating.

Speaker 8 (01:28:47):
Which is like, nobody's even bothering to try to kill
Kamala because's pointless.

Speaker 10 (01:28:52):
What do you achieve?

Speaker 2 (01:28:54):
It's exactly that's.

Speaker 20 (01:28:58):
It's no point in coming deep and true though, is
try to kill job Aiden it's.

Speaker 15 (01:29:03):
Totally.

Speaker 2 (01:29:07):
I watched a bit of that yesterday and he was
worried Elon about whether he was going to jail because
he's all in on Trump. If Karmela wins, whether she's
going to put him in jail and how long the
sentences and stuff like that, And they're both mental. There's no, no,
there's no other way to put it. They are both literally.
I defend their right to be insane. Especially Tuckery's out

(01:29:29):
there and doing his own thing on his own platform
these days, and good luck to him. But Elon runs
stuff that we sort of interact with, like my internet,
your car, all that sort of stuff.

Speaker 13 (01:29:41):
So that's there's people waiting in space hoping that.

Speaker 2 (01:29:46):
Back tomorrow.

Speaker 11 (01:29:47):
Happy Days.

Speaker 1 (01:29:49):
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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