Full Show Podcast: 13 June 2024

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
Setting the news agenda and digging into the issues. The
Mic Hosking Breakfast with.

Speaker 2 (00:06):
Bailey's real Estate altogether better across residential, commercial and rural
on News Talks, edb.

Speaker 3 (00:18):
Brring and welcome today, the banking inquiries and change to
the way we export food, the embarrassments of so many
people leaving the country, and are the power companies ripping
us off? And why aren't the new disclosure rules working?
They've saved the Christy chain feature, which is good. Andy
Summers of the Police Fame, one of the music's greatest
of a guitarist. He's an after right, Joe mckennon's literally
ahead of the g seven Rod Little is in the

(00:38):
UK asking welcome to the day was always coming because
it's part of the coalition deal, of course, but the
Willis letter to a couple of select committees sets up.
Of all the inquiries and market studies, we've had probably
the most interesting investigation yet banks and whether we are
getting a decent deal. Is their enough competition? The rural
community is screaming at the moment over their behavior. Seems

(01:00):
a very fair weather social license issued. There are the
Reserve bank and commercial banks are at each other observers
of the retail operators look on with interest that the
margins charged here versus the margins charged in Australia, remembering,
of course they're the same banks. So a lot to
look into. Like all the other market studies though, whether
petrol or supermarkets or building supplies, looking into stuff as
one thing, working out what to do as another thing entirely.

(01:22):
What if it's found the Reserve Bank really is a problem.
They're independent of the government. What does the government do?
Kiwibank is supposed to be a disruptor, they're not. How
do you do anything about that? If a farmer has
not helped in a way they might have wanted. And
the committee finds banks are withdrawing from the rural sector,
what actually do you do about that? On the flip side,
banks are successful and we like and want that. The

(01:42):
stability of banks is critical to an economy, and in
that we've been fortunate. How much has government policy through
COVID messed with banks and lending in the economy. We
get into the DTIs the oldrs, the treatment of investors,
the flow and effect into housing and rentals and first
home buyers and access to money. This in some way
or another when think about it, actually touches each end,
every single one of us. As always with big business,

(02:05):
people will go into a you know this with a
preconceived notion banks of thieves or bullies or ripoff merchants.
The reserve bank is overbearing. But given we seem rightly
or wrongly to be obsessed with inquiries, here goes another one.
The trick is not to have it end up like
the others. We're next to nothing happens who news of.

Speaker 1 (02:25):
The world in ninety seconds right.

Speaker 3 (02:27):
Stuff unfolding as we speak. The lads are about to
hit the stage at sky UK hit to head for
an interview followed by audience questions before it starts. Key,
you thought it was a debate.

Speaker 4 (02:36):
I know how important preparation is when you're interviewed by
beth Rick Beer. And of course we will have I
think a live audience there of people who live in
and around Grimsby, and I'm really looking forward to taking their.

Speaker 3 (02:47):
Questions elsewhere on the trail. The Greens, who haven't got
a lot of coverage, have a plan for the rich.

Speaker 5 (02:53):
We would overhaul our tax system to make it fairer.
At the heart of this would be a tax on
the very richest, the top one percent of people. Greens
have the courage to say that we would change the
tax system to make it fairer and make this investment possible.

Speaker 3 (03:07):
Is it just me or does her voice not help overall?
And the lib dims have well, they've specialized and stunts
for attention. Did it again today? Around water?

Speaker 4 (03:16):
We're saying today let's have a tougher new regulator.

Speaker 1 (03:19):
We're calling it the Clean Water Authority.

Speaker 4 (03:22):
And it backs up all the liberal Democrat policies to
end this Sewy scandal.

Speaker 3 (03:26):
And I think he fell in the water after that,
also unfolding the US economy and the FED coutch, the
good news came and the CPI which went nowhere.

Speaker 6 (03:32):
It keeps a FED between one and two cuts for
twenty twenty four, rather than slipping in some outliers that
were starting to think about whether or not we needed
an additional rate hike.

Speaker 3 (03:43):
That's the good news. Just report that's just come out
of miment Ago, and I'll give you the details to
the war where Hamas are causing Anthony some headaches on
the Sea spirefront.

Speaker 7 (03:51):
If one side continues to change its demands, including making
demands and insisting on changes for things that had already apted.
You have to question whether they're preceding in good feet.

Speaker 3 (04:04):
I think you do. And then we have the Russians
who have sent some heavyweight machinery to Cubah.

Speaker 8 (04:08):
The ship directly behind me is a rescue ship and
icebreaker which does not have much use in the Caribbean.
And then behind that is the nuclear power and sub
the Kazan, something Cuban said they've never seen before.

Speaker 3 (04:20):
Right. Finally, the robots have risen eight year old from Oklahoma. Paralyzed.
Brain damage meant she couldn't couldn't walk, couldn't sit up
on her own. However, in a world first this morning,
a robot was used to fit an electrical implant to
a brain. As a result of that, the girl can
now move her body, lift her arms above her head.
Not to say this is going to be first in many,
many cases worldwide of robots being involved in this procedure.

(04:42):
News of the World of ninety Yeah, mister Powell, didn't move,
no move. And the word is it's not three cuts,
it's not two cuts this year, it's one. So it's
on hold in one cut. Meantime, the UK economic growth
has ground to a holt in April, just what Rishi
needs ahead of tonight's chap. In line with the expectations
there to be fair constructions down one point four percent.

(05:03):
It did expand zero point four percent in March, so
she's tempered, to say the least more. Shortly twelve past six,
the mac costing Breakfast Macrons also had a very busy day.
Seems to be some sort of rumor circulating that it
was having called the snap election of his party does
particularly badly. He'll have to quit. He wanted to affirm
this is not the case. The chance of that happening
never existed. The suggesting is absurd. He's not quitting, so

(05:25):
no matter how messy it gets, he doesn't take any
level of responsibility. He wanted to nip the idea in
the bud fifteen past six, Agree bare back now, j
am I Wealth Andrew callaher good morning, very good morning,
mikel a hold and we're down to what I'm thinking
you saying one cut oz.

Speaker 9 (05:44):
He yeah, So look, I mean, the market wasn't expecting
too much. It's been quite a busy night out there
in market land. Because he had the release of the
US CPI earlier in the evening, which evoked some quite
large market moves, and then we have literally just hot
off the press, had the move in the Fed Funds announcement.

(06:05):
So as I said, market was expecting Fed to be neutral.
They've held rates steady. They target the Fed Funds rate
in a range of five and acord to five and
a half.

Speaker 10 (06:15):
They've kept with the.

Speaker 9 (06:16):
Words of inflation has made modest further progress, and we'll
talk more about that in a minute. Yeah, these medium forecasts,
the old, good old famous dot plots.

Speaker 10 (06:26):
So you've now got one rate.

Speaker 9 (06:28):
Cut implied in the dot pots for twenty twenty four,
and then four rate cuts in twenty twenty five.

Speaker 10 (06:34):
Now you go back to March.

Speaker 9 (06:36):
The previous forecast had three rate cuts, then you had
the CPI come out, and the market was probably factoring
in two. So it's mildly hawkish that you're now any
projecting one rate cut over the rest of twenty twenty four. However,
that is sort of balanced by the fact that it's
really a timing issue because you've just shunted one into

(06:58):
twenty twenty five. Now, I had seven straight meetings with
the Fed Funds rate at the current level.

Speaker 10 (07:03):
They're still saying that they.

Speaker 9 (07:05):
Need greater confidence that inflation is moving sustainably towards two percent.
You've got an economic growth projection of twenty twenty four
for the US of two point one percent. Right now,
I think the market is probably thinking that growth in
the US is traveling a little bit higher than that.
You had some pretty strong gains which I'll talk about
in a minute after the CPI and interest rates sort

(07:26):
of holding those gains. There's a technical sort of thing
in here that they the longer run estimate. So if
we're looking out longer term of the Fed funds rate,
if you go back a few months, or you go
back sometime, you were looking at a long run estimate
of two point five.

Speaker 10 (07:43):
That now long run estimate has gone up to sort
of two point eight.

Speaker 9 (07:46):
So they're sort of nudging up how low they think
it can get. But all in all, I don't think
the market's going to react too much to this.

Speaker 10 (07:52):
Pretty much steady as she goes.

Speaker 3 (07:54):
Okay, and the CPI came in about where they thought
it would.

Speaker 9 (07:57):
Yeah, Well, CPI inflation data at least earlier on in
the session it was benign, and that would have been
I think a pleasant surprise for the Fed as they
prepared for the release of that interest rate announcement. So
two measures we look at. We look at headline CPI
and we look at core CPI. The core excludes the
more volatile food and energy costs CPI. The headline for
the month of May was flat zero and has increased

(08:19):
three point three percent year on year. Looking at the
core CPI is zero point two percent in year on
year three point four percent. Importantly, those were slightly lower
than expected. So the context here is this progress on
lower inflation because it had been stalling. You've now had
a couple of months without spectacular falls, but broadly decelerating,

(08:44):
and I guess sort of taking a step back here, Mike.
The problem with the problem with a soft landing scenario
is that you're going to get you know, well, at
the same time you're going to you want to see
the inflation moderating. If it's a soft landing, you're going
to get other numbers which are going to look a
little frothy, and the job report over the leak and
is that case in point So, so the Fed is
really going to see more clear evidence. So it's going

(09:06):
to see several months, so two probably isn't quite enough.
The good news in those CPI numbers is that the
decline seems to be quite broad based. There wasn't one
or two categories contributing to it.

Speaker 10 (09:17):
At the end of the day, the.

Speaker 9 (09:19):
Share markers reacted pretty positively and we have seen interest
rates quite a bit lower.

Speaker 3 (09:24):
Okay, give us a couple of seconds on this migration.
I mean, so they're still coming in, but my word,
there's a lot of us leaving, isn't it.

Speaker 9 (09:30):
Yeah, Look, look, direction of travel I think is changing.
Migration is calling, so you could call you could call
a change in trend. Within the bigger picture year there's
a notable features record number of New Zealand is departing.
So the fact that the modern that migration is calling
is that, you know, we've got less people coming. But
within that we've got this rather worrying aspect of New

(09:51):
Zealand's going. So two hundred and forty four the raw
numbers seasonally just three hundred and eighty that's for the month,
so you've got a big discrepancy there and at annual
number just under one hundred thousand, ninety eight thousand, call
it one hundred.

Speaker 10 (10:05):
Well, below the peak peak sort of annual.

Speaker 9 (10:08):
Number that we were seeing last year, which is why
I think you can be confident in calling that change
in trend okay numbers please, so as we look at it,
the Dow Jones is up thirty two points thirty eight thousand,
seven hundred and seventy nine. The S and P five
hundred is up almost one percent for five thousand, four
hundred and twenty three.

Speaker 10 (10:25):
But the Nasacks had a good day in response to
that low inflation numbers.

Speaker 9 (10:29):
It's up three hundred and thirteen points one point eight
percent seventeen thousand, six hundred.

Speaker 10 (10:34):
And fifty five overnight.

Speaker 9 (10:36):
The forty one hundred game point eight of percent eight
two one five. The NICK lost point six six percent.
That's two hundred and fifty eight points three eight eight
seven six. Shang High Composite was up point three percent
three or three seven. The Aussies yesday lost half a percent.
That sound forty points seven seven one five. We also
lost point three seven percent on the insects. Fifty eleven thousand,

(10:59):
seven one hundred and forty one Kimi dollar Now Kimi dollar.

Speaker 10 (11:02):
Moved quite a lot when the CPI came out.

Speaker 9 (11:04):
It was setting at sixty one forty against the US.
It went up to sixty two cents, and it's just
come down below sixty two cent point sixty one nine
nine where at point nine to two eight zero against the Aussie,
point five to seven three oz against the Euro, point
four eighty three eight pounds ninety six point eight four
against the Japanese end gold is trading at twenty three
hundred and twenty six dollars Brent crud eighty two dollars

(11:26):
and seventy nine cents see tomorrow.

Speaker 3 (11:28):
Andrew kelliher Jmowealth dot co dot n Z. Pascal, you've
missed the World Bank update. The world's going to grow
a little bit faster this year. They've gone from two
point four to two point six, which is good. The
poorest country is the ones in trouble. They got the
heavy det in the high interest rates. Of course, US
is driving eighty percent of that increase, so the US,
thank you very much. Emerging market developing countries collectively growing

(11:49):
about four percent. That's down from four point two. China
down to four point eight from five point two, Latin
America down to one point eight from two point two.
Euro barely moving at zero point seven. Japan down to
zero point seven from one point nine. So it's America
basically in America alone. Six twenty one hered newstalk Z.

Speaker 1 (12:15):
The Make Hosking Breakfast.

Speaker 3 (12:16):
A bit of transport news for you boeing the seven
three seven Max. They can't sell one for love nor money.
Second month in a row that they've received zero orders GM.
Yesterday internationally they trimmed their twenty twenty four fore cast
for evs. They were thinking they were selling up three
hundred thousand of them this year. They paired that back
to two hundred and fifty thousand. They thought they were
going to be eighteen percent of sales. Is going to

(12:38):
be about eight percent of sales. The EU have come
in overnight. I'll warned you of this yesterday. They came
in overnight. These are the tariffs on the Chinese evs.
Of course, it's tied and directly with the premiere arriving
in this country. Not that we make any cars in
this country anymore, but nevertheless, it's the whole trade thing
is going to be front and center. Anyway. The Europeans
came in at thirty eight point one percent, which is
right at the bottom end, and the suggestion was it

(13:01):
could go as high as fifty. They don't think it would,
but it could, and forty was probable, so anywhere between
thirty and forty, so thirty eight point one. They'll give
it that a work and give her a wool and
see if it comes to anything. But the argument was
that the Chinese, because of the government involving in the
ev market, they could handle fifty percent before they sweat,
so they're not going to sweat, presumably. Sex twenty six.

Speaker 2 (13:21):
Trending now with chemist Wells keeping Kiwi's healthy all year round.

Speaker 3 (13:26):
Peddington Bear is back. Last time we saw him as
twenty seventeen Paddington and Peru. This one is and it
sees him travel to visit his.

Speaker 1 (13:33):
Aunt, dear Aunt Lucy.

Speaker 11 (13:36):
I have very important news.

Speaker 10 (13:38):
We're coming to visit you. The Browns are coming to Peru.

Speaker 12 (13:43):
On Lucy.

Speaker 5 (13:45):
I'm afraid she set off on some sort of quest
deep in the jungle and we have no idea.

Speaker 13 (13:50):
Where she is.

Speaker 1 (13:51):
Aunt Lucy found me when I was a cob.

Speaker 10 (13:53):
Now I have to find her.

Speaker 9 (13:54):
But the Amazon is quite large.

Speaker 14 (14:02):
We have to try, and I have faith that you
will survive with me.

Speaker 11 (14:08):
Or is it getting a bit shopping are appeared to
be driving the boat.

Speaker 1 (14:14):
Welcome to Perul.

Speaker 3 (14:17):
All the names about Hubonofild, Emily Mortimartin, Olivia Coleman and
Julie Walters. Out in UK cinemas, this is the bad news,
unfortunately out in UK cinemas November eight, UK theaters US
theaters rather US theaters Jen seventeen and then coming soon internationally.
Do they not have enough copies of them or something?
Are they as the photocopy of broken On and what's
going on there? Andrew Hoggart, he's a Minister of a

(14:39):
bunch of stuff to do with rural New Zealand. But
one of the things he is in charge of his
food safety. Are some new rule changes around that that's
going to help us. The red tape has been cut.
More shortly, You're.

Speaker 2 (14:49):
Trusted Home the News for Entertainment's Opinion and Mike the
Mike Hosking Breakfast with our Veda Live the Age You
Feel News talks.

Speaker 3 (14:59):
Edb Central Banks, the EU's gone and kat Canada's cats
at the Bank of England's close. But of course this
morning we've found from Jerome pell there is no captain.
Part of the reason that there is no captains. I
alluded to a moment ago with the podcast from the
World Bank, is the economy is going so well, it's
good news.

Speaker 15 (15:15):
Overall, a broad set of indicators suggests that conditions in
the labor market have returned to about where they stood
on the eve of the pandemic, relatively tight but not overheated.
FMC participants expect labor markets straight to continue. The median
unemployment rate projection in the SEP is four point zero
percent at the end of this year and four point

(15:37):
two percent at the end of next year. Inflation is
eased notably over the past two years, but remains above
our longer run goal of two percent.

Speaker 3 (15:48):
I bet you'd be fun at the party that twenty
three minutes AWI from seven G seven Big deal in Italy.
Joe McKinnon is there and we'll got a shortly many
time back on new exemption proposal for food export. Who's
going to be put out for consultation. So currently food
produced for sale and export needs to meet domestic standards
and if food for exporters produced to meet other country standards,
they have to apply to MPI for an exemption. Now

(16:10):
the government wants to remove the requirement for individual export
exemption applications and assessments by MPI. The Food Safety Minister,
Andrew Hogart is with us. Andrew, very good morning to you.

Speaker 12 (16:19):
Good morning Mike.

Speaker 3 (16:19):
So basically what we're doing is cutting red tape here
pretty much.

Speaker 16 (16:23):
There was an early request from particularly the dairy sector.
A number of the companies came to me and said,
the missing out on market opportunities and it's making it
hard for them to be able to get product to
the market quickly, so other countries are looking elsewhere. So
it just seemed like a really simple one to move
on as quickly as I could and come up with
some better options for them.

Speaker 3 (16:45):
What was the argument for it, I'm not sure.

Speaker 16 (16:49):
There wasn't a It's just how it was done.

Speaker 14 (16:52):
Yeah.

Speaker 16 (16:52):
It was sort of one of those things that had
I think been stuck there and stayed there, and no
one was quite sure why.

Speaker 3 (16:59):
Okay, when you talk about consultation, is there consultation You're
just going to get on and do it.

Speaker 16 (17:04):
Oh no, No, We've got to go through a couple
of weeks of consultation. There is some differing options in
there as to how this could be applied. And also,
I mean most of our contact has been with the
dairy sector, who have been the industry sort of most
impacted by this, So opportunity for any other sectors that

(17:24):
haven't really been utilizing the system or talking to us
about it to actually pipe up as well.

Speaker 3 (17:30):
Okay, what's the time frame on it? When does it
go and when does it make a difference?

Speaker 16 (17:35):
I would hope. I'm still learning the rules as to
how all of these timings and things work, but my
understanding is once that consultation's over and we can get
a clear, agreed pathway, hopefully, I would hope sometime next
year or as sooner than that if possible.

Speaker 3 (17:53):
Excellent. While I've got you in your rural hat on
in general terms and europe field days, this banking inquired
has been announcement. We'll talk to nicola Us about it shortly.
The mood of the farmer and the social license of
the banks, is there a real issue?

Speaker 16 (18:07):
There's definitely an issue here. You know, when I was
in my old job, I had to talk about the
banking survey every six months, and it just how I
was repeating myself every single time. The trend was just
going down, going down, going down. There is definitely a
mood of dissatisfaction amongst farmers around how the banks are

(18:30):
working with them, and I guess the margins in particular
recently have really the additional margins over house lending has
really hurt a lot of farmers, particularly with where interest
rates are at the moment. So from a lot of people,
the main concern they're telling us is, you know, interest
rates are the key thing that's creating the hurt right now,

(18:51):
and more so than yeah, you're.

Speaker 3 (18:53):
Meeting the Chinese premier among others today, Are you bullish
on trade with China in general? From your particular perspective
they court, et cetera.

Speaker 16 (19:01):
I think it's been there's been a really good long
term customer for New Zealand, and my expectation as we
can continue to build on that relationship and keep sending
higher value products there as their economy comes right and

(19:22):
get more and more middle class people there wanting to
buy good nutrition from New Zealand. So I think there's
deffinite upside and there's obviously other markets we need to
be working on as well around the world.

Speaker 3 (19:33):
Good and speaking of the field days, good reaction to
the ets.

Speaker 16 (19:35):
Move, Oh yeah, lots of handshaking and back patting and
well done and other sort of happy sounding grunt noises
coming from farmers that go past me.

Speaker 3 (19:46):
Yep as to talk to you again. Andrew Hogger, the
Food Safety Minister, among other things, of course, nineteen minutes
away from seven scar. Speaking of which, massive opportunities, KPMG
put out a report yesterday, Today's potential Tomorrow's possibilities we
earn by the way, fifty let's call it fifty eight
fifty seven point four fifty eight billion dollars in exports sector.
Needed to capitalize on New Zealand's global reputation as a

(20:07):
top food producer and leader, to include farmers diversifying their income.
Got to install the solar panels, got to use the
digital technologies like Regenitive AI to drive farm efficiencies. Acknowledged
good focus from the coalition government and opening up gene editing,
biological technologies, cutting red tape which was just talked about
for things like resource consents, water storage, Strengthening New Zealand's

(20:28):
international trade relationships. And here's the worrying point. The global
food system, they say in this report, is moving forward
at pace, but there's little evidence that New Zealand is
keeping up with a transformation, so we need to pull
our finger out. Get oreck together. Eighteen to two, the
mic Costing, Breakfast Moddering MIKEA. A lot of my friends

(20:48):
kids would have done their owe when COVID started and
we got shut down, so they're all doing it now.
I think there's just a lot of leaving at the
moment to catch up with the time that was lost.
I've got two of my three children living in London,
or living rather in London and Berlin the gateway to
all their travel. There's probably something with that, but we'll
look at it. I just find it apart from anything else,
I just find it embarrassing that so many people want
to scarper out of this country and there is I

(21:10):
think the bank's right when they said yesterday we've lost
our edge, we've lost our luster. I think that's refutable now.
Six footy five.

Speaker 2 (21:17):
International correspondence with ends and eye Insurance Peace of Mind
for New Zealand Business m Kenneth literally, very.

Speaker 3 (21:23):
Good morning to you, good money Mary, Well, sure go
at your place with the G seven. Let me come
to that in a moment. But the EU of all
the successes, I mean it was a move to the
writers we discussed I think last week in various countries
around the world. But Maloney was a big success story
in that as well, wasn't she.

Speaker 13 (21:37):
Yes, she's triumphant after her overwhelming success twenty nine percent
of the vote, and significantly, her Brother's of Italy party
took votes from the far right League, particularly in the
north of Italy. So she's really strengthened her position and
really put herself in a strong position going into the
next couple of years, which I think will be significant

(21:57):
for the leadership of Italy as well as being a
leader for the rest of Europe.

Speaker 3 (22:01):
Indeed, I was reading a number of pieces around in Germany,
particularly the young people. They got sixteen year olds could
vote in Germany and a large, disproportionately large percentage of
them voted right, if not extreme right. Was that Do
we know if that happened in Italy or not.

Speaker 13 (22:16):
Well, it seems that the center left Democratic Party also
had a bit of a rebound. They had twenty four
percent of the vote, and they attracted the eighteen to
thirty four age groups. So I think it's fair to
say that Maloney is drawing her strength from an older
age group, particularly the thirty five to fifty five year olds,

(22:37):
particularly because she's of course got a strong message on
migration and clamping down on immigrants and her security stance exactly.

Speaker 3 (22:46):
Now, I am also reading in Pulia, which is where
the G seven is. This is the home of a
bunch of mafia type people and they're trying to round
them up. At the moment, I take it, they've cleaned
the streets up and everything's ti kiddie boo for the heavyweight.

Speaker 13 (22:58):
Well, they've closed, They've shut down the borders, so Shingen's
no longer in effect for the next few days, so
people do have to be checked at the borders. There's
about seven thousand police and armed forces in the area.
Are no fly zone. Can they control the mafia, I'm
not so sure, but they've shut down garbage deliveries and

(23:21):
all sorts of movement on the ground, so it's quite
a lockdown, I would say.

Speaker 3 (23:26):
Is Zolenski going to be there?

Speaker 1 (23:27):
Do we know?

Speaker 13 (23:29):
Yes? The Ukrainian President Vladimir Zelensky will be on the
ground tomorrow and Pope Frances on Friday, so some significant visits.
There also some African leaders, but the Pope we're meeting,
the US president Joe Biden for a bilateral and also
meeting Georgia Maloney for a bilateral at some point.

Speaker 3 (23:49):
Okay, now I've been trying to look at the video.
There doesn't appear to be video, just some photos. But
there's punch up in your parliament was over what regional
autonomy and it all got a bit loose.

Speaker 13 (23:58):
Yeah, it's crazy. Scenes in the parliament are an MP
from the far right attacked an MP from the populist
Five Star movement as he tried to unfool an Italian
flag in front of an Italian minister. MP's charged across
the room and in the middle of that the far
right chap started throwing punches and our friend had to

(24:21):
be carried away and have some medical assistance. So crazy
scenes in the Italian parliament tonight.

Speaker 3 (24:27):
All right, fantastic, gir well Joe ketchup next week, Thanks
Kylor very much. Joe mc kenner out of Italy. By
the way, Biden's going to be pushing a fifty billion
dollar loan package for Ukraine and quite rightly a number
of the countries. And the reason it hasn't gone through
so far, of course, the G sevens made up at
the UK Canada, France, Germany and Italy in Japan. But
some of them are a little bit worried about the
fact that I don't know, Ukraine's in the middle of

(24:48):
a war. They don't have an economy, they don't have
any money, they don't have any ability to pay off
fifty billion dollars worth of loan and Joe, who's one
hundred and twelve probably doesn't care anymore of but anyway,
that's his big go But this business, Apulia and the Mafia.
So you've got three mafia style criminal groups operating that
part of the world. If fe fascinated to read. They're
offshoots of the Sacra Corona criminal syndicate. And the interesting

(25:09):
thing about them is they operate locally. They're not international operations.
They work mainly within Italy and occasionally the Balkans, and
they're in and around Bari and Brindisi, which is where
the G seven is. They've been knocking off foes in
daylight attacks. They're carrying out armed carjackings at an alarming rate,
several high profile of indebt and murders. A briefcase was

(25:29):
found abandoned at the train station the other day near Bari,
connected to bottles of liquid and a cell phone, and
since then almost daily bomb threats have been received. There
have also been some armed raids by criminal gangs on
villas close to the summit venue. So let's hope the
security sorted turn away from seven.

Speaker 2 (25:46):
The Mike costing breakfast with Alvida and whose tog said, be.

Speaker 1 (25:51):
What he might.

Speaker 3 (25:51):
The smart people are leaving sick of the cost of
living council rates to the Mary Party BSB down the television.
There is something in that. There's no question they are
young and they tend to be bright. That is true Switzerland.
This is interesting and should be getting more coverage than
it was. Remember the court case a couple of months
ago where the Swiss women, the climate Seniors as they
called themselves, won this historic ruling on climate change from
the European Court of Human Rights. There this morning shocked

(26:15):
and betrayed because the Swiss Parliament has ignored them. Basically,
the European Court said the Swiss government's inadequate response to
climate change needed to change. This was back in April
ordered Switzerland to meet its targets to reduce greenhouse gas emissions.
The women went Waho. All the green people around the
world went who of course they've hadn't ensuing EU election,

(26:35):
where of course the Green's got pummeled, So I think
there might be a message in that. Anyway, the court's
rulings are binding on member states, which is yet another
reason why you don't want to be part of the EU.
So the decision was unprecedented, and yet overnight Switzerland's parliament
they voted to reject it. They're suggesting that they're not
ignoring it, but rather than rather, Switzerland did not need

(26:57):
to react as it already had an effective climate change strategy,
despite the fact they're currently not on course route to
the parent climate agreement. So where this goes is interesting,
so we should follow it. Five minutes away from seven.

Speaker 2 (27:08):
B, the Ins and the Ouse, it's the Fizz on
the Mike Husking breakfast on News Talk said.

Speaker 3 (27:13):
B the parliament start ignoring courts, You've got trouble long term.
Let's talk bea A doesn't get any bigger in terms
of business than Corona. The Kantar Brands global rankings were
out this morning. Corona's been valued at more than thirty
billion dollars. They've achieved their success for global growth with
the likes of Brazil, China, South Africa and maintaining their
number one selling best ranking in Mexico. Of course, second
most valuable brand was Budwiser, thanks to the popularity of

(27:36):
it in the United States because they have literally no
taste in beer. That comes in at twenty two billion dollars.
The company called ab InBev, which is a Belgian drink
and brewing company, and this is sort of the problem
here that the whole drink market's dominated by very few people. Actually,
they've got eight of the ten most valuable global beer brands.
Third is Heineken. That's not an ABMBV company. By the way,

(27:57):
Mundeo Brahma, I don't know, Obrama, michelob Ultra, now the
crap beer out of America, bud Light and even crappier
beer out of America that had all sorts of social
issues around their campaigns. They've come in seventh. They've dropped
from thirteen billion down to ten because of all that nonsense.
Skull is at eighth. Guinness once again not an abmb

(28:19):
OF company, although they should be. If I wanted to
buy a company, I'd buy Guinness. Not that I like it,
it's just it's a thing. Stella Artois is tenth. What
else can I tell you? Apple, which is not a
beer company, although they probably will be one day, the
number one company in terms of tech, Google, Microsoft, Amazon,
McDonald's make up the top five and video has let

(28:39):
the rankings to sixth. Most valuable. I find that hard
to believe. This must be outdated numbers, because we know
for a fact on market cap they're the second most
valuable company in the world, Nike, number one in brand apparel,
Louis Wheaton most valuable luxury brand, a two hundred and
ten billion dollars. That'll be mainly Dan Carter's association with him.
Tesla your most valuable automotive, and I find that also

(29:01):
hard to believe. Netflix most valuable streaming and Lorrel the
number one brand for personal care. They brought tom Ford
from tom Ford. I just thought I dropped that and
it's just stuff you know that you don't get to
use it.

Speaker 1 (29:15):
You want to give that Brahma beer go. It's quite nice.

Speaker 3 (29:17):
Oh you do know where's it come from.

Speaker 1 (29:19):
That's a South American one, is it?

Speaker 10 (29:20):
Yeah?

Speaker 1 (29:21):
I think it would appeal.

Speaker 3 (29:22):
It's a it's a lightish lager.

Speaker 13 (29:24):
Yeah.

Speaker 3 (29:25):
Ter hinter Pilsner.

Speaker 17 (29:27):
Oh no, that's probably not quite that tangy, more.

Speaker 3 (29:29):
More commercial, less craft. Yeah, okay, yeah.

Speaker 10 (29:32):
It's smooth.

Speaker 15 (29:33):
It's it's sort of Corona y Escy, sort.

Speaker 3 (29:36):
Of Corona and an Esci. Now there's a there's a
picture for you. Nikola Willis after the news.

Speaker 2 (29:42):
The newsmakers and the personalities the big names talk to
like Breakfast with Jaguar, the art of Performance news tog
said ball.

Speaker 3 (29:52):
Seven past seven. So the banking inquiries on the Finance
and Expenditure Committee will lead at the Finance Minister. Nicola
Willis with us on it. Good morning, Good morning Mark.
So it's part of the coalition deal. So how much
of this is a box tech for New Zealand first
versus you being invested in what might be real issues.

Speaker 18 (30:08):
I'm very invested in this. We've had a comments Commission
report tell us that our banks have very high levels
of profitability compared with banking in other parts of the world.
They've described the top tier of banks in New Zealand
as being like an oligopoly. They've described in having market
power and that worries me. I believe in competition. Competition
drives better services for New Zealanders. It drives more innovation,

(30:30):
it drives more productivity. So we owe it to ourselves
to get to the bottom of these issues. See whether
we can change the regulation, See whether it is more
we need to be doing to drive competition in banking, the.

Speaker 3 (30:40):
Rural aspect of it. And you hear it at the
field Days and have heard it through the Federated Farmers polls.
Is that real in your view?

Speaker 18 (30:49):
I think it is real because what I'm hearing from
those in the rural community is that they have seen
a change in behavior from the banks that once where
they would be accommodated, they no longer feel that they are.
They're finding it harder to access lending, even if they
are prepared to pay the interest rates. They point to
interest rate differentials where they access loans that are much

(31:12):
higher rate of interest than people do mortgages, and all
of these issues are having a big e sept in
the rural community. Around half the farmers are saying it's
their biggest pain point. So I think we owe it
to our rural communities, who are so important to our
productive economy, to look at whether they are being served
well by banks exactly.

Speaker 3 (31:31):
But this is where it gets juicy because the retail
banks will tell you the reason that they're higher is
one the risk, but also the Reserve Bank rules. The
Reserve Bank will come along and tell you that the
other ones that's all bollocks and it's just and so
back and forth it will go. What do you do
about it?

Speaker 18 (31:45):
Well, first of all, you bring that argument before Parliament
and you have it out in the open. You have
it publicly in the accountable form of an inquiry, and
we then get to step through the facts that are
brought to the table and judge them accordingly. My mind
is open if we need to change the regulatory requirements,
if the Reserve Bank needs to do things differently, or
if the banks need to be brought into line. I'm

(32:07):
open to all of that because this is an issue
that rarely goes to the heart of whether businesses can innovate,
whether they can expand where the New Zealanders can get
affordable mending and affordable services. This is pretty big for
the economy. I want our economy to grow.

Speaker 3 (32:22):
This is critical indeed. But the Reserve Bank are independent.
How do you interfere with an independent operator if they're
the problem?

Speaker 18 (32:28):
They are independent, But Parliament is in charge of the
legislation that guides them, and if that legislation requires amendment
in order to better serve New Zealanders, then Parliament must
amend it.

Speaker 3 (32:40):
Can you say at this point despite the fact that the
inquiry hasn't been held, But I take it from your comments,
change needs to happen, and change will happen.

Speaker 18 (32:50):
Change needs to happen, and change will happen in the
banking sector in New Zealand so that New Zealand is
a better served. And I know the banks are powerful,
but democracy is more powerful, and this inquiry is going
to get to the bottom.

Speaker 16 (33:01):
Of these issues.

Speaker 3 (33:02):
Good stuff, nice to talk to you, apreciate it very much.
Nicola Willis, who's the finance minister? Mike, why don't banks
just save everybody a heap of money, time and effort
and drop the agg rates to the same as the
residential commercial we'll dean. The answer a simple one, because
they carry risk. There's a greater risk in lending to
a farm than there is to a house owner and
to the reserve Bank set the rules and so in
that is why we're having an inquiry. Ten minutes past seven, Hski, Oh,

(33:23):
I don't know about you. But it's getting embarrassing, isn't it.
Another record's been set by KIWI scarpering off shore in April,
more than eighty one thousand took off. That led to
a net loss of fifty six thousand and five hundred.
That tops the previous record, which was in March of
fifty two thousand. So is this leaving holes in our
job market? Talent I D Director Kelly Hamlet's.

Speaker 11 (33:41):
With us morning, Good morning to you, Mike.

Speaker 3 (33:43):
Now, there was a survey yesterday. Obviously we got the
number of Kiwis leaving the country, but there was another
survey yesterday that said twenty five percent of employers say
it's worse than last year. As far as labor issues concerned.
Do you reckon with all the people leaving the country
that's real?

Speaker 19 (33:56):
Well, I think it's definitely not helping, Mike, and I
think we have in the labor market loosened up a
little bit most recently this year. It's definitely more balanced
towards the employer. However, I think that's a real band
aid on what really is going on. We've got massive
skill shortages in this country and you know, with the
recent restructuring or shaping happening. It's loosened a little, but

(34:19):
it's not really addressing the real issues.

Speaker 3 (34:21):
So what's the problem though, Because it's not like we
haven't got people coming into the country. There's lots of
them coming in. Are they just mismatched?

Speaker 19 (34:28):
Yeah, I think that's I think that probably is the case.
You know, immigration has been a bit of a mess
for a while now. You almost need a master's degree
to decide for the constant came changes that are coming
through on a week to be basis. So I just
wonder if we're not really sort of you know, we've
got skilled immigrants coming in. However, maybe immigration policies aren't

(34:50):
targeted enough towards the areas that are employers are desperately
needing helping. But it's not even it's not even the
skilled areas that where it is those areas, but it
even filters down to some of them are basic roles,
really generic skill sets.

Speaker 20 (35:06):
Even does no.

Speaker 3 (35:07):
One want to work anymore?

Speaker 7 (35:08):
Is that?

Speaker 3 (35:08):
But when you get to generic does no one want
to work? It doesn't matter where they come from in
the world. Kiwis can't get out of bed and they're
leaving the country anyway. And those who come into the country,
don't want to do the job. Are there just some
jobs people will not do?

Speaker 14 (35:19):
Oh?

Speaker 19 (35:20):
Look, I think there's some obviously that are more attractive
than others. But no, I don't. I don't necessarily think
that's the case. I think, you know, post COVID, we
were we were in a real sort of dire sort
of space in terms of businesses were growing. We just
didn't have enough people literally to fill the jobs. And
I think it just is, you know, it just comes

(35:42):
down to there's there's more demand then you know, sort
of skill to fill fill these roles.

Speaker 3 (35:47):
Do you worry about young people leaving New Zealand? New
Zealand is leaving New Zealand?

Speaker 19 (35:52):
Yeah, I think, you know, I've sort of been pondering that.
You know, years ago we had people would go overseas
on there oe and now it seems that they're leaving
to the greener pastures of Australia. So, you know, and
I think it definitely is that that time of people's
career where they're really earning good money and they really

(36:12):
could be adding to our economy, but sadly we're losing
them to know the likes of Australia and droves.

Speaker 3 (36:19):
That seems it does indeed seem that way. Kelly appreciate it.
Kelly Hemlet, who's the talent ID directed with us this
morning thirteen past seven Pasca here and Russia. You're on
stage in Grimsby as we speak, and they've had a
bef Rigby interview while they haven't Kia has Richie still
to come. They've had a bef Rigby interview and now
they're in front of the people and Key is doing
his very best. I'm relatable act.

Speaker 4 (36:41):
When I grew up, my dad was a tool maker,
he worked in a fat room.

Speaker 20 (36:44):
It's true.

Speaker 4 (36:45):
My mom was a nurse, and actually we couldn't make
ends meet, which actually isn't a laughing matter. We couldn't
make ends meet, we couldn't pay our bills. I know
what it feels like to feel anxious about the next
hill which you can't pay. And a lot of what
I recognized, a lot of people today are in precise
position as I was in and I politics is about

(37:07):
your policies, of course it is, but it's also about
who do you have in your minds? Okay, when you
make your decisions? Are you thinking about when you make
your decisions? I'm thinking about the people who are struggling
with their bills.

Speaker 3 (37:18):
Okay, okay, be it's very impatient, doesn't she our assessment
at this point he's coming across as reasonably relatable in
the sense that he came across as relatable in the
first debate, which he lost against Rishi's. So that's unfolding
as we speak. Fourteen past the mist Mike here, obviously
you must have his own joke about as part of
being a tool maker. Yeah, I don't know, he's I
don't know, he's a party man. But having said that,

(37:40):
if you watch to when PMQ's periodically does come up
with a couple of good one lines, PMQ's are very good.

Speaker 2 (37:45):
You know.

Speaker 3 (37:45):
If you look in the New Zealand Parliament in the
exchange between lux and Hipkins versus say, Sunak and Kia,
they're just the British are in a completely different league.
It's almost genuinely entertaining, if not educational anyway. Eighteen past
but a concern in the brewing industry between those going
under and the cost of the excise tax. Government confirmed
yesterday tax is coming four point one percent as of

(38:07):
the first of July. Executive Director of the Bruce Association.
Dylan Firth is with us. Dylan, very good morning to you.
Good morning make How would give us a word for
your industry at the moment? Miserable, upbeat, suicidal, brilliant. What's
your word?

Speaker 20 (38:21):
Getting through?

Speaker 21 (38:22):
I think is probably the word we want to use.
It's pretty tough out there, like mini sectors, and you
know the brewing sector for a number of years is
there's been relatively flat. There's not a lot of growth.
There's some bright spots, but I think you know, in
this economic climate, discretionary spend is down and we set
it through the hospitality sector and things are pretty tough
out there.

Speaker 3 (38:40):
What's the tax designed to do stop us drinking or
just collect money?

Speaker 21 (38:44):
Well, it does a bit of both. I mean a
subscribed as doing that, but it does get taken into
the consolidated fund. I mean there's about one point three
billion dollars it's taken last year and it's not ring
fence for anything in particular. So we've seen an increase
over the last three years of a combined close to
eighteen percent, and it's to inflation each year. So you know,
the previous government in this one that they've decided to

(39:05):
continue it at this rate. But unfortunately it's not really
a sustainable system when it's got levels of inflation, and
we've seen that because people aren't spending money and there
isn't growth to be able to sustain.

Speaker 3 (39:15):
So here's your problem. You want them to pause like
they do in Britain at each budget they seem to
go all the we no increase in the excience this year,
but you want it to pause until you would argue
inflations back under control the economies, right, But then mod
will happens. You'll come back on the program going na, na, no,
we need another year's pause, won't you? You want it forever.

Speaker 21 (39:31):
I'll look pausing just one of the things that have
gone on around the world, and we've advocated for a
number of things. You look at Canada, for example, who
saw high levels of inflation and they had a similar
system and they capped it at two percent this year.
You know, we think that that's a good option. We've
also said there's an opportunity to put a separate key
rate in for supporting hospitality businesses, so a lower rate
specifically for tat beer. So the number of things are

(39:53):
there you could do and look at the end of
the day, if it's linked to a sustainable increase over
the years of around one to three percent, like we
say to the reserve banks to keep inflation there, I
think that's something that industry could handle.

Speaker 3 (40:03):
Not a bad argument, Dylan, appreciate you time very much,
Dylan Firth, Executive director of the Brewers Association, Mike, I
no roles being advertised. That would have got thirty people
applying in the past. Now there's two hundred plus highly skilled,
well qualified people are not even getting an interview for
the jobs they could do in their sleep. The job
just markets simply aren't there for generic, basically unskilled people.

(40:24):
There doesn't seem to be a consistent source of a
source of truth that reflects the market reality. Thank you
for your run, Thank you for your run. Feedback still
to come on the program, Andy Summits. If you run
into the police, Andy Summits after eight o'clock, it's seven
to twenty on my cost you breakfast to tailor a
support package where you receive a delicious hot meal cooked
for you and say, I don't know, a Wednesday and

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(41:07):
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(41:30):
living well community near you. Asking seven twenty four. Not
just these immigration numbers yesterday, but tourism numbers as well.
Have a look at the number of articles too about
the place at the moment on Europe. The articles that
talk about the crush, the cost the record breaking numbers
Europe and summer has become a real thing in the
last couple of years for New Zealanders. The numbers going
to Europe this year is up five percent on last year,

(41:51):
and last year was a record anywhere in the cost
of living crisis. For God's sake, there's no bargain fares
for travel. Then after coming back are the cost of
hotels in Europe. In July's ruiners, we're told the average
time away is thirty one days a whole month. Contrast
that to the latest status for a rivals here in
to us, we're at seventy three percent of pre COVID

(42:11):
pre COVID seventy three percent, remembering pre COVID twenty nineteen,
five years ago. We haven't recovered from five years ago.
In fact, we show increasingly little sign of actually doing so.
And yet here's the real worry. No one seems to care. See,
we had the minister on the programme last time I
raised this number of weeks ago. He used the fatal
line when I asked him whether he was worried or no.
The industry tells me we're tracking well. And that's the

(42:34):
problem with some ministers. If you're not immersed in the subject.
Any amount of bs can come across your desk in
and none the wiser. The industry has recently launched what
they call a new initiative that involves trying to get
people here year round. One that's not new, We've tried
it before. Transseasonal tourism is not a new thing. And
two it still doesn't address what I would call the
alarming lack of bounce back. As Europe is jammed over

(42:56):
jammed if you ask those in places like Mayorka and Venice.
We're still waiting to get back to where we once
were five years ago. Capacities back for the plane seats
no longer an excuse, So what is our excuse?

Speaker 7 (43:07):
Eh?

Speaker 3 (43:07):
Why are we not concerned? What happened to the magic
of New Zealand? See the dollars fantastic one of the
few upsides of having a hopeless currency. It's cheap to
be here. Not only aren't the numbers any good or
getting a lot better? No one seems to be alarmed
about it. My question is why not asking the five
percent as well? And the thirty one days I gave
you the top destinations that we're heading to millennials leading

(43:29):
the way. Twenty six to thirty five year olds largest
number of bookings at twenty seven percent, forty six to
fifty five year olds at eighteen percent of bookings. Top
twenty destinations. I won't give them all. Some of them
are weird, but the top ones London, Paris, Rome, Amsterdam, Manchester, Athens, Frankfurt, Barcelona,
Milan and Dublin. Dublin came in at number ten. Mike,
I wonder if more and more people are leaving New Zealand.

(43:51):
This is immigration now as they're just over the Yanks.
The protest, the activations, the general negativity. Easy to blame
the government or money, but I don't believe it's that
anymore interesting You say that my son's company, Mike sent
into Australia for an IT project. He's been working there
for several months. He commented, others in his age had
their own house, while he can't afford one in New Zealand.
See I know that to be not true based on facts.

(44:14):
The cost of a house in Melbourne and the cost
of a house in Sydney is higher than a cost
of house in anyone you want to pick in New Zealand.
In terms of metropolitan centers. I know that rent in
those particular parts of the world are more expensive, yes,
and I will get to this the Hay salary thing
out yesterday. Yes, in general you can earn more in
Australia if you go there, but not much. I was

(44:34):
surprised in looking at the stats yesterday how little the
difference is. And it doesn't strike me as a big
enough difference to be able to afford the rent or
be able to afford the mortgage. So that's what I
would call grandmother in all research. But nevertheless, I think
it's just the vibe. I think if you if you
want to get out and you're sick of something and
you want to go, you'll justify it to yourself. And
a lot of the decisions and made like that, right, Well,

(44:56):
I have a look at the power industry a couple
of moments, the.

Speaker 2 (44:59):
Breakfast Show You Can Trust, the My Hosking Breakfast with
Bailey's real estate altogether better across residential, commercial and rural.

Speaker 1 (45:09):
On news talks, d.

Speaker 3 (45:10):
Be my interest in comments you make about tourism. Tell
me why the government's thinking then about increasing the visitor
a rivals tax. Doesn't make sense to me. Mike. The
reason they're doing that is revenue, because think about it,
when you book your holiday, as clearly so many people
have booked into Europe in the next couple of weeks.
Do you know what you'll be paying upon arrival in
any given country. No, you don't, noughder your care. It's
not something that puts you on or off a country.

(45:32):
It's comparatively speaking, a handful of dollars. Hence it's a
good collection point for the government. So Starma v Rishi.
It is unfolding as we speak. Rod's watching you be
with us in an hour's time, Starmer on tex.

Speaker 4 (45:42):
I accept that previous labor leaders have sort of pulled
the tax leave for every single time and driven up spending.
I want to grow our economy. The manifesto tomorrow will
be a manifesto, a plan for wealth creation. Now you
may not hear a labor leader say that very often,
but for me, that is the most.

Speaker 3 (46:01):
So this is not a debate, by the way, we
remember remind you, it's an interview between Beth Rugby and
the guest, and then he takes some questions from the audience. Rishi,
of course turned up after Kia and he had to
deal with the day.

Speaker 17 (46:13):
I was incredibly sad to have caused people and upset.
That was actually the last thing that I wanted to do.
And as I said, I hope people can find it
in their hearts to forgive me. When I realized I
made a mistake, I apologized. I've asked forgiveness, and also
I have been speaking to veterans about the things that
we aren't doing to make sure this is a good
country for them after they've served, because we owe them

(46:35):
an enormous debt of gratitude.

Speaker 3 (46:38):
That's contright with capt Little Contrist back home, by the way,
after write Andy Summer's Police, great story the police. He's
moved on to other things these days, of course, because
the police fell the partners, so many bands do fall apart.
But he's coming to the country Andy Summer's after write anyway,
the Consumer Adverscuit Advocacy Counsel is telling us the new
disclosure rules, intended to shine a light on with the

(46:58):
power companies are making excess profit it are not working.
So this is a report from the NZIER found the
disclosure rules introduced by the Electricity Authority had shortcomings, which
limits the usefulness of the information companies are providing. Now,
the Consumer's Advocacy Council chair is Debrah Hard, who is
with us. Deborah, morning to you, Good morning, Mike. Now,
is it the rules that are the problem or are
the companies playing games with the rules and that they

(47:19):
weren't playing games the rules would actually work.

Speaker 14 (47:22):
Well, the rules are the problem, and we don't know
if the gin tailors, that's the companies that both generate
electricity and retail electricity are playing games.

Speaker 20 (47:35):
We just don't know.

Speaker 3 (47:36):
Okay, So you want to see inside what the gen
is providing the tailor with and what's that number and
what's that gap? And if you knew that, then we'd
be getting somewhere.

Speaker 14 (47:45):
Well, we know we want that, but we also need
the Electricity Authority to benchmark those costs properly so that
we can make we can make sense of that. And
at the moment, we just don't have of that regime.
So we have some of the information, but not enough

(48:05):
that we can can say that there aren't excessive profits
being made.

Speaker 3 (48:12):
So there's your word, excessive profits. Even if we had
the number as transparent as day this afternoon, who's to
decide what's successive and what isn't.

Speaker 14 (48:21):
Well, we would know if the the Gen Taylor's are
charging them their own retail arms less than they are
charging other retailers, and that would tell us that we
don't have true competition.

Speaker 20 (48:39):
But at the moment, we just don't know that.

Speaker 3 (48:42):
Although the market is dominated by Gen Taylor's, isn't it
at the end of the day. I mean, if there
were a whole lot of little guys out I mean,
I suppose there's a few little guys out there that
by their stuff. Is there not enough competition in terms
of all that's available if you wanted to dig into
it and avail yourself at the best possible price.

Speaker 14 (48:58):
Well, this goes to the very very crutch of whether
we have real competition or not. If independent retailers can't
buy the electricity from the generators at the same price
as the Gen tailors, then they have a difficulty surviving.
And keep in mind, we had eight independent retailers in

(49:20):
a space of two years who came into the market
and left. If we want true competition, we really want
a lot of these independent retailers to be able to
be in our market.

Speaker 3 (49:33):
Well, look, I'm not disagreeing with you, but I mean,
could they have come and they just couldn't cut it.
I mean, once again, it's like banks and telcos and
airlines and all that sort of stuff. We're a tiny
country with five million people. There's only so much room
in the market for so many companies and maybe just
go one step too far and that's why they fell over.
Not because there's a lack of competition.

Speaker 14 (49:51):
No, I don't think I don't think that's right. I
think that we could do with more independent retailailors, ensuring
that the gen tailors are very sharp with their their
pencil when it comes to price. And keep in mind
night consumers tell us time and again that they are
really hurting when it comes to power prices which are increasing.

Speaker 3 (50:16):
Yeah, that's true. But that's not about competition, though, isn't it.
I mean it's like going to the supermarket and say
our grocery is too expensive. You go, well, yes they are.
Is that about competition, You're just feeling a cost of
living problem.

Speaker 14 (50:26):
Well, it can be about competition as well. And if
consumers is to have confidence and that their bills are
not being inflated by companies making excessive profits, we need
to get this right.

Speaker 3 (50:40):
Good on, you're nice to talk to you as well
as Debrah debrahat who's the Consumer Advocacy Council chair. It
is eighteen away from eight Tusking, here's a good point.
This is what I've been trying to say all morning, Mike.
If you're twenty six with a corporate career ahead, would
you rather live in Wellington, Auckland, Sydney or Melbourne even
if costs don't offer big benefits the quality of business
districts and surroundings and cheese fill I think you're probably right.

(51:02):
That's what I was trying to say earlier. Essentially, if
you want to go, and you're young, then you will go.
It's as simple as that. And Melbourne seems exciting, and
Sydney seems exciting, and London's big and bright and beautiful
and fantastic. We had to say, I don't want to
boy you. We got a son in London at the moment. Now,
London is riddled with problems. It is horrifically expensive, knife

(51:23):
crime is a major issue. Nut jobs on the street
are a major issue. It is shockingly cold in winter
and wet. Yeah, he ain't coming home because he's in London.
And that's how it works. It is seventeen to two.

Speaker 1 (51:38):
The masting breakfast.

Speaker 3 (51:39):
Morning might correct me if I'm wrong. But as more
and more countries in Europe and in fact around the
world are swinging to the conservative right, UK appears to
be the outlier and about to move to the left.
So are they trendsetters or well behind the rest of
the globe, Barb good question. And behind the rest of
the globe is my argument, because you've got to remember
that it's unique. What is unique to Britain. First of all,
the European vote was for the European Parliament, not the
individual parliaments of the country. Not that you wouldn't see

(52:01):
a similar trend in the individual countries, but the Conservatives
have been in power for a very very very long
period of time, and time kills all governments, and that's
what you're seeing at the moment.

Speaker 10 (52:12):
Mike.

Speaker 3 (52:13):
Check out Brisbane. The house price is sixty to seven
hundred thousand dollars for three to four beds in a section. Well,
you're right and you're wrong. I'm sure you can find
a house in Brisbane for sixty to seven hundred thousand,
But the average house price in Brisbane is nine hundred
thousand dollars in rising and rising sharply. In Sydney it's
one point six and mild, and it's one point four.
You see my point, So you're ruining a little bit more.
Let me just do the Hayes thing for you now,
just real quick. I don't want to bog you down

(52:33):
in numbers. But the average salary in Australia's nineteen hundred
and fifty three dollars a week versus sixteen hundred year,
So it's three hundred dollars a week more in Australia.
Would you be materially better off? Depend on what you're ruining,
depending on the tax rate. Their top tax rate is
higher than ours, for example, forty five cents versus thirty nine.
If you're an accounting in finance, if you're a financial controller,

(52:56):
turnover of one hundred million dollars the business that is
not you in Auckland at one hundred and fifty five
thousand dollars in christ due to one hundred and forty
thousand dollars in Sydney a hundred and sixty five one
hundred and fifty five vers one hundred and sixty five
to ten grand a year? Is that worth it?

Speaker 11 (53:07):
Not really.

Speaker 3 (53:08):
You're a commercial analyst in Auckland won thirty Sydney, one thirty.
There's no difference. Architecture graduate architect eighty five thousand in Auckland,
seventy five in Sydney, you go backwards. Senior architect one
thirty in Sydney, one twenty five in Aukland. You see
what I'm saying. There's not a real difference, but a
difference in construction civil construction four person, one forty in

(53:28):
Sydney versus eighty five in Auckland. That's material. If you're
an engineer, civil designer engineer one twenty in Auckland, one
twelve in Sydney, you've gone backwards. An executive commercial firm
turnover fifty million, three hundred here, three fifty in Australia,
human resources company with more than one thousand people two
fifty in New Zealand, two ninety in Australia. That's a
difference forty grand Is it worth moving just for that,

(53:51):
wouldn't I thought so? Marketing event manager one twenty in Sydney,
ninety in New Zealand. That's a bit different. Policy and
strategy of policy advisor eighty two in Wellington, eight in
Canberra two thousand dollars difference to move to Canberra, No,
thank you, Tech business analysts and projects and change management
one forty in Sydney won ten and orphan. That's a
little bit. Do you see what they're not? Dramatically different

(54:13):
this whole business. I'm earning three times what I did
in New Zealand. It's simply isn't true. And you've got
a deal in the facts. Ten minutes away from it.

Speaker 1 (54:22):
The Mike Hosking Breakfast with Jaguar News.

Speaker 3 (54:25):
Another of you're pointing out the souper. The souper is
better in Australia. I do get that, but as I
also pointed out, the tax rate if you're on the
decent money is higher at forty five versus thirty. What
is the top tax row thirty nine, thirty eighty thirty nine,
whatever it is? Seven away from eight good news, good news,
good news. The Cantery amp folks have reached an agreement
with event Hire to go ahead with the A and
G the New Zealand Egg Show in November. It's a

(54:46):
new deal, new name. It's going to be called the
christ Church Show and Phil Anderson is the owner of
event High and is with us film morning to.

Speaker 11 (54:52):
You, Good morning Mike, thank you for having me.

Speaker 3 (54:55):
Not at all well done? Do you feel good about
it all?

Speaker 11 (54:57):
Oh? Absolutely, Yeah, it's great to get it out. They're
in the public, and yeah, it's amazing to hear some
of the feedback.

Speaker 12 (55:03):
It's awesome.

Speaker 3 (55:03):
And when you heard it fall over, did you think,
hang on, here's a bit of me I can get
into this.

Speaker 11 (55:08):
Yeah, it was actually coincidental. There's multiple phone calls the
day after from supplies and some vendors saying, hey, is
there anything you could do on this day? We would
love it if you could, and it sort of sparks
some interest in all of us.

Speaker 3 (55:20):
I think, okay, so how's it going to work? When
you say slim down? How slim down?

Speaker 11 (55:26):
Slim down? In the aspect that they are sort of
separate events, So Kappa are doing some animal and the
City Farmyard aspect and we're doing the show aspect. So
you know, that's some of the food and market stills,
but with the flavor of the AMP show. So the
full scale shows is pretty big. We're just skimming that
down to more manageable size to make it work.

Speaker 3 (55:48):
Is it workable and long term? In the model. Is
this the way the future? Do you think?

Speaker 11 (55:54):
I definitely think there's probably some changes for the show
moving forward, and that that's possibly about the way it's ran.
But I think absolutely that I think they're going to
come out the other side of this super strong. I
think this is just a really good and they should
have to work for this year and it's looking at
how that model needs to change in the future.

Speaker 3 (56:14):
It did. I never got to the bottom of it.
The model seemed problematic. They seemed to work all year
for three days worth of revenue and that never struck
me as anything particularly bright. Was that the problem.

Speaker 11 (56:24):
As part of it? I mean, and definitely it's a
very expensive process running a show like this. Yeah, actually
diving deep in the back end of it, starting to
get an understanding of that. Yeah, Look, it's been difficult
for them, and potentially on the other side of that,
hopefully we can be involved in the running of the
show in the future and we can help you work

(56:45):
to some of those costs in the future and make
it possible.

Speaker 3 (56:49):
Well, I wish you all the very best with it.
I hope it goes fantastically well and November come on in.
Phil Anderson who's the event higher owner. So the christ
Your Jamp, the fabulous, the famous Christ Your Champ show
has been saved five minutes away from eight scpect me
of events. This fast track which we've been talking about
on the program a bit, and we had the protests
over the weekend for people who want to hold everything
up and hire lawyers and go to court and appeal

(57:10):
and all that sort of stuff, and most of the
rest of us actually just want to get on with stuff.
One of the people I hadn't thought about it, but
Eden Park and Auckland they are loving the idea of
the fast track consent. They are in front of the
Select Committee and they said, this is the sort of
thing that the fast track could really you know, power
us up six concerts a year and up to twenty
five evening rugby and cricket games they're allowed. So what

(57:32):
they want is to gain quick approval for nationally and
regionally important infrastructure developments where they say, well, we're nationally
and regionally important tests, concerts, economy. So Nick thought that
he was in front of the in front of the
committee and he goes he wants to expand Eden Park,
redevelop the north and west put a roof on and
wants to fast track these sort of consents, And that

(57:52):
to me makes perfect sense, doesn't it. They're operating with
too many restrictions, ridiculous constricts. Yes, they'll still the a's
with the community, but they can streamline the process. They
can expedite the changes needed to enable us to be
nimble and agile. And do we not honestly want to
be more nimble and agile. I don't have time now,
but I will come back after eight thirty once we

(58:13):
dealt with rot I got through yesterday. I cannot recommend
it enough, especially if you followed the story. We alluded
to it briefly before we left you at the end
of the show yesterday the Kevin Space interview, so he
appeared on the YouTube with PS Morgan. I can't remember
how long it is, but it's over an hour and
a half. And that's what happens on YouTube and these
podcasts these days. They just think they're opening a microphone
and talking till they literally fall over with lack of

(58:35):
oxygen somehow a thing. But be that as it may,
it's an absolutely gripping watch. And I came into it
with the idea that broadly speaking, support for Kevin Spacey's
probably too strong a word, but as an outside observer
who doesn't own from a bar of soap, it struck
me initially at first blush as this is a pile

(58:56):
on the initial allegations. You thought, geez, this will be
interesting to see where it goes. As it turned out,
it went nowhere, and none of it's gone anywhere, none
of it. And I didn't realize just how wide the
Breaktha's become in the way he's been treated, so all
that detail got flushed out. But I'll work you through
some more of that after Rake thirty This morning.

Speaker 2 (59:16):
The Big News Bold Opinions, The Mic Hosking Breakfast with
Avida Live, The Age You Feel News Talk zedb.

Speaker 3 (59:29):
It is seven past eight. It is the classic rock
and roll story. A group of three musicians looking for
a break, don't have a cent, can't get a gig,
do a deal with a record company, can't get one
of those either. One song changes that all them. For
a while they were the biggest band of the world.
Stuart Copeland, Sting and Andy Summers create a Police of Course,
seventy five million records sold. Six Grammy's Rock and Roll
Hall of Fame and all of that. So Andy Summer's

(59:50):
coming here for three nights, bringing his best selling show,
The Cracked Lens and a Missing String. Andy Summers with
us from New York.

Speaker 20 (59:56):
Good morning, I'll go mine to you. Nice to be
here now.

Speaker 3 (59:59):
First of all, we'll talk us through the Correct Lens
and the Missing Spring. I've seen a little bit of it.
I mean how cliver people must respond brilliantly to it.

Speaker 20 (01:00:08):
Well, I'm getting the standing oration every night and we
pretty much sold out everywhere, so I think it's going well. Yeah,
I originally started this just prior to the whole COVID thing.
I managed about ten shows and so the idea was born,
you know, combining you know, well it's really a multi
media show, but photography, talking, guitar playing obviously and different

(01:00:32):
things and so forth, and then resurrected it as we
were able to come back to, you know, going out
on the road, and you know, you think going with
a show like this, I think you just keep adding
refinements to it and just gets better all the time.
So we're having a pretty good time in New York
City at the moment and playing tomorrow night here.

Speaker 3 (01:00:55):
Yeah, So the idea, the linkage between the photographs and
the music. How long have you been into photography?

Speaker 20 (01:01:01):
By the way, I sat photography seriously as a medium
I wanted to work in In nineteen seventy nine, when
I was in New York City with the police and had,
you know, as you might imagine, a lot of time
in my hands because we were turing constantly and I was,
you know, we the van was surrounded by photographers all
the time. So I finally sort of crossed over and

(01:01:24):
got a good camera and said, right, I'm going to
do this, and you know, in factic turned into it,
you know, a passion that I stayed with ever since.

Speaker 3 (01:01:33):
So what do you look for? I mean, what do
you shoot?

Speaker 20 (01:01:35):
Well, I look for abstraction, really, you know, I mean
I would give.

Speaker 14 (01:01:40):
It to you.

Speaker 20 (01:01:40):
I'm not looking for like an interesting place. I'm looking
for like shape, color line, you know, balance within a
rectangular frame, a balance of light and dark. So I
think of it in formal properties, not like, oh that's
an exciting moment, you know that man to go into
that man, you know whatever. You know, I think in

(01:02:02):
a different way.

Speaker 3 (01:02:04):
Is it the same as music? I mean, it's a
creative expression.

Speaker 20 (01:02:07):
I think so, you know, and I often like to
cite well well, I mean the famous phrase is all
art aspires to the condition of music, And it's absolutely
true because I find the information that I had from
music is sort of you can take it across to photography.
And again, you know, like in music you would be

(01:02:27):
thinking of line, shape, one thing contrasting against another, a structure.
All these things can be applied to photography. I mean,
obviously you have to learn how to use a camera
and study photography, but you find in the end that
some of the properties you're looking for are the same
ones that are expressed in music.

Speaker 3 (01:02:46):
Do you reckon if you're good at music, you're good
at photography, or if you're good at photography you can
be good at music.

Speaker 20 (01:02:53):
I think if you go in a photography and if
you're a musician, you're already in an advantageous place. I
really think that you've sort of trained your mind along
certain mind to think that way abstractly and straightforwardly, which
however you want to phrase it, and it will give
you an advantage as a photographer, because I think those
things are already in you. If you're coming in as

(01:03:14):
a musician, it is quite like a quite natural step
in a way to me. You know, photography you can
get into and learn technically, whereas painting, for instance, as
a visualize is much more difficult because unless it's born
in you, unless's literally in your hand, you'll only ever
get to be so good photography, I think you have

(01:03:34):
more of a chance that you know. I was very
art inspired. I did try painting for a while a
few years back, but I thought, ultimately I thought, no,
I haven't got it. I haven't got the thing. It's
not emmy because obviously I can't do that. It didn't
come out like that. But photography I think I'm very
good at and I think that comes from to something extent. Well,

(01:03:56):
I obviously haven't mind, but I have the advantage of
having play music all my life.

Speaker 3 (01:04:01):
So the extension then this new ep of yours Vitigenous Canyons,
how do you go about writing music for photography?

Speaker 20 (01:04:09):
Yeah, well it's a good point, and no one's asking
me quite like that. I did this my latest photography book,
which is Tennis in Germany, and they asked for it
and I hadn't actually done that. But I have scored
films that some music. The music on that vitigenous canyons
I played. I made it in about two and a

(01:04:30):
half hours, and all of it is improvisations, you know,
no great brand scheme. It's just I'll get sound through
various you know, typical electric car devices. Got a sound
going that with you know, create a mood in me
and you know, create something with it. But I made

(01:04:50):
that those tracks in one afternoon, so I think is
very healthy.

Speaker 3 (01:04:57):
See, it's funny you should say that it's one of
the great mysteries have you writers? I mean, do you
ever worry about saying, oh, look at it and you
took me half an hour, right, even though it's bringing
I mean, is that just how music, like photography, like
soundtracks are created.

Speaker 20 (01:05:09):
Well, no, okay, Look, there's a lot of things for
this first going to be talented. Just to have a
talent and a feel for the medium you're in. I'm
naturally a musician. I don't think it matters. Some of
the greatest things are done in your minutes, you know,
and it's just they just thrive. And I'm trying to
tell somebody this morning, another interview. You know, you sit

(01:05:31):
there and slug away trying to write something, and then
you give up and the last minute you give up,
it suddenly arrives in your head. I mean, I think
this stuff comes to you sort of from there. You
could say it comes from years of training and practicing
and working at it. But there's another sort of mysterious
element to it where it just arrives sometimes and you
have the ability to recognize that, Oh my god, that's there.

(01:05:55):
I know it's all of that, and suddenly it pops out.
So you don't I'm on it. You work for it,
and then suddenly it arrives. I like that's a mysterious
element of creation, creativity if you like composition.

Speaker 3 (01:06:11):
Is that the same as playing the guitar. I mean,
it's always fascinated me. At what point do you get
to if you ever do you are so at one
with the thing you no longer even think about it.

Speaker 20 (01:06:21):
Well, I mean, you know, not sounding statistical, I did
think I am at one with it. I've done it
since I was a kid, and millions of hours to
play the guitar, you know, in front of people, with people.
Oh I love the guitar. I love playing it. I
love the fact that I managed to live my life
as a guitarist. And it'll probably see me out as well.

(01:06:44):
And you know I don't necessarily sit with an earnest
expression on my day. My faith every day, and I
got to find you know, I've got to be better.

Speaker 12 (01:06:54):
I don't.

Speaker 20 (01:06:55):
So I'm at one with it. Like you pointed out,
you know, I'm doing shows now, it's just me on stage.
This is all. I'll be bigger in New Zealand. And
I'm very comfortable with it, you know. I just I
can do it. You know. It's not like I don't
have to work up to anything. I'm there. I just
hoped to have a good night with it.

Speaker 3 (01:07:15):
It's good, a good, good place to be. Andy hold
on for a couple of moments, Andy Summers coming to
the country. Ex Police of course, fifteen past.

Speaker 1 (01:07:20):
Eight, the mic Hosking Breakfast sent.

Speaker 3 (01:07:24):
Me seventeen past eight, The correct lends En missing string
will give you some dates in a moment for Andy
Summers's Well, by the way, how did you work out
even when the police fell apart in the eighties, how
did you work out what you were going to do?
How are you going to do it? Whether you needed,
you know, to formulate a whole new career? How did
that come about?

Speaker 16 (01:07:40):
Well?

Speaker 20 (01:07:40):
I would say, you know, in my musical thought, in
my musical head, you know, all those years running parallels
to Police, I was interested in a lot of other things.

Speaker 1 (01:07:49):
You know.

Speaker 20 (01:07:50):
I mean I grew up not really the rock guitarist,
but as a classic as a jazz I was jazz
planning as a kids, you know, I was learning from
people like Kenny Burrow, Jimmy Rainy Ways Montgomery. This is
where I started. But then I started my professional life
in a rid of blues band. But you know, post Police,

(01:08:13):
I had a lot of information about all kinds of music,
and so then there was really time to start composing
instrumental music, not pop songs. And that's where I went
with it, you know, influenced by all kinds of ECM records,
for instance, with one of the influential meaning music of
Colonious Monk, Miles Davis.

Speaker 6 (01:08:31):
All.

Speaker 20 (01:08:31):
This was something that I wished to take elements from
and kind of build my own style, my own big mixture.

Speaker 3 (01:08:40):
If you like, what's more creatively fulfilling post the Police
or the Police?

Speaker 20 (01:08:45):
Well that's not that's a bit of a cool question,
because you know, well, I mean, well I can't really
answer that. I mean, they were both two different things. Obviously,
I was a huge contributor to the Police, as we
all were, you know, with the Magic band. You know,
they don't come along way after. But I've enjoyed I've

(01:09:06):
made forteen solo albums and I really dug into it,
and I totally enjoyed making albums. In fact, I just
renewed my studio equipment completely too. Yeah, go back to
recording in the next Well, I.

Speaker 12 (01:09:20):
Hope this year.

Speaker 20 (01:09:21):
Yeah, I think we went through a weird time with
COVID and everything seemed to stop, and now it feels
like life is coming back again. And you know, I'm
on the road and I reknew the studio, So yeah,
I sup.

Speaker 3 (01:09:35):
I always like to know the answer with stories like yours,
So if people don't know it at the beginning, before
the Police started, when you had nothing right and no
one would hire you, and there was no money and
there weren't any hits, and then not long after that
Roxane came along, you were suddenly banging the biggest band
in the world, having headed all and had nothing. What's

(01:09:58):
it like to live through that?

Speaker 20 (01:09:59):
Well, it was fabulous. And I'll just comment on that
because I did get you know, when I was living
in California, he's before going back to London and then
ultimately joining the police, I was down to literally nothing,
you know. I was, you know, hand about existence. I've
never forgotten it. The one thing that kept me going, honestly,

(01:10:19):
and I'm not to stand Corney was my faith in
the guitar, faith in music and my abilities were that
and you know that maybe virtually one day it would surface,
you know. And it did, you know, but in a
most unlikely way. Because I joined a band that had
nothing and no future. The only thing we could believe
in was our ability to make music, and eventually we

(01:10:41):
cut through. Fact, it was pretty quick joining. Yeah, so
you've got to keep the faith, you know. And it's
hard to say that to young musicians because the whole
game has changed. You know, people don't buy records anymore.
You know, it's all gone now, it's just dreaming and
all that. And you know, a young person wants to

(01:11:02):
live a life in music, even make any money anymore,
to stay their life.

Speaker 3 (01:11:06):
Looking forward to seeing you in the country. By the way,
what's your relationship with New Zealand. How long has it been?

Speaker 20 (01:11:11):
Yeah, I think it's been a few years. I don't
think I've ever played there on my own, so this
would be at first did play the other Police, and
I toured Australia on my arm, but not New Zealand.
But of course you know you're one. I mean, maybe
say this, but you do tend to associate New Zealand

(01:11:33):
with Great Britain, you know, first time I ever worked now,
I thought, oh, it's just like him. Well, but got
a climates, so it's sort of a kinship that's different
for an English person with say America, you know Zelians,
you feel it's partly British, and no question about that exactly.

Speaker 3 (01:11:51):
I listen, go well, and we'll catch up when you're
here later on in the Andy summers out of New
York for us this morning the crect lens and the
Missing String. He's here septim the middle of September, is
obviously taking a holiday between the two September nineteen and
Wellington twenty in christ Church. Then there's a break until
the third of October when he is in Auckland A
twenty two.

Speaker 2 (01:12:11):
On My Costal Breakfast with Bailey's Free Estate News Talks IVY.

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(01:13:01):
take only as director, of course, but the telephone number
eight hundred triple nine three oh nine online at about
health dot Co's ARTNZ for the fabulous res v Ultimate
only from a Bad Health asking Mike Andy Summers eighty
one years old, amazing energy. And you know why he's
got amazing energy at eighty one years old, because he
does what he loves. And if you do what you love,
you never work a day in your life and you
feel good. Mike, great interview with Andy Summers, very accomplished

(01:13:22):
guitarist Robbie Krieger, guitarist from the Doors playing the Whiskey
in La seventeenth of July, which is fantastic. Thank you, David.
Mike asked Andy about a guitar to wear. It clapped, Yeah, no,
I didn't ask about that is a Liz Paul guitar.
A Gibson Liz Paul guitar turned out to be worth
a million dollars. It's quite a funny story. I'm sure
you can look it up. It'll be on on the
net somewhere right Rishie v Kia, how did it go tonight?

(01:13:43):
It was the second of three There are two debates.
Tonight was the interview, followed by some questions from the audience.
When we last left it, Kia was looking moderately relatable.
We thought, what does Rod think about it? Because he's
been watching on our behalf of course, and Rishie was
full of contrition over the D day business. So some
highlights in Rod Little after the News, which is next

(01:14:04):
your news talks, he'd be.

Speaker 2 (01:14:14):
Your trusted source for news and views, the mic asking,
breakfast with Jaguar, the art of Performance news talks.

Speaker 1 (01:14:22):
He'd been right.

Speaker 3 (01:14:23):
So they've been well, they haven't really been battling it up.
They've been doing it back and forth. So it was
on a stage here This is Sonic and Kia Starma
Beth Rugby was the interview for Sky News and they
went in front of an audience as well and took
some questions. This was Sonic.

Speaker 17 (01:14:35):
I'm excited to have the opportunity to talk to everyone,
not just tonight, but across the campaign, out and about
in the country about our plans for the future because
I know we've been through a tough time. Of course
we have, and I'm sure we'll talk about it's been
tough for all of you here tonight, everyone watching. But
I do believe we've turned a corner and we've got
a clear plan for the future to make a difference
to people, to cut their taxes, to bring down immigration,

(01:14:56):
to protect pensions. Those are all things that I think matter.
There's the thing that people want, and so I'm going
to keep fighting hard till the last day of this election.

Speaker 3 (01:15:03):
Starm ahead of Craig.

Speaker 4 (01:15:04):
The easiest thing in the world is what Roschie Sunak
is doing is to simply say you can have everything.
Unfunded commitments, unfunded promises. That's what got us into this
problem in the first place. And working people are paying
the price with higher bills, so they're mortgages. I'm not
prepared to have a later government ever make that mistake.

Speaker 3 (01:15:21):
It would some track, Miss Lena, I don't know anyway.
Bit turned out to be the star of the show.

Speaker 1 (01:15:29):
In this parliament.

Speaker 3 (01:15:30):
We've had three prime ministers, five chancellors, five Home secretaries,
six Health secretaries.

Speaker 2 (01:15:36):
How do we know?

Speaker 17 (01:15:38):
How do we know that if you won the general
election you'd still be Prime Minister.

Speaker 2 (01:15:41):
In the year's time, International correspondence with INSIT our Insurance
Peace of mind for New Zealand business.

Speaker 3 (01:15:51):
It's twenty two minutes away from mine watching it all,
and in Britain, rodinands with us morning Mac good Now,
I've been trying to conduct a brick with a show
while watching this leader's chet slash audience and direction. What
do you make of it so far?

Speaker 12 (01:16:03):
And The remarkable thing is that you know, Kirs Starmery
is well ahead in the polls twenty five percent. If
he believes the polls. I don't, as it happens, but
he's well ahead without question. He is an appalling public
speaker and performs very badly on the stump. And what
we saw tonight was what I think is quite a
serious mistake by their labor leader where he was asked

(01:16:26):
right at the very outset of this debate as to
why he had supported Jeremy Corbin's attempts to become prime minister.
He was the deputy to Jeremy Corbin and he had
thrown everything behind into his attempt to get Jeremy Corbyn
di elected as prime minister. And asked this question, he replied, well,
because I never thought we were going to win. And

(01:16:49):
that is remarkable, remarkable, revelatory and remarkable. And I think
he will come back to haunt him because it kind
of gets at an idea we have of Starma, which
is that he has no principle, which is that he
is not to be trusted. And this is despite having

(01:17:11):
and I've said this to you many times, Mike, you
know he has undoubtedly transformed the Labor Party, but I'm
increasingly i'm sure as to what he's transformed the Labor
Party into soon. Act. By contrast, tends to do rather
well in these debates. You know, he won the last
one very very clearly, and I think probably edged it tonight.

Speaker 3 (01:17:36):
And having said that, I applied a clip on the
program earlier about his D Day and he seems exceedingly
contrite about it.

Speaker 1 (01:17:44):
Now.

Speaker 3 (01:17:44):
Is D Day going to haunt him all the way
to the election, or can say tonight and being contried
he moved past him.

Speaker 12 (01:17:50):
No, no, it'll haunt him all the way. It's a
it's another symptom, not a symptom. It's a consequence of
the Conservative Party's long term arrogance and disrespect for the
ordinary people of the country. And I'm afraid also suggests
to me that Richie Sumac is a bit sick if

(01:18:12):
he did not see this coming, you know, because I
would have seen it coming, and I'm not you know
Einstein or Niels Bohr. You know, I would have seen
this problem coming down the track. And he did it
clearly for self interest. You know, he cannot get away
from that. He did from self interest. An interview which

(01:18:36):
will probably never be heard and no one will have
taken notice of and left the D Day Commemorative service.
I think it's going too far for Nigel Farage to
say he doesn't understand our culture. Farage later said that
he meant his class. I don't believe Nigel was telling

(01:18:57):
the truth because there are many many Indians who fought
long and hard for Britain during the Second World War,
and I think Richard soon have to let them down
as well.

Speaker 3 (01:19:12):
Craig Williams and laying bits on an election that hadn't
been called. Is this trouble or scandal or a.

Speaker 10 (01:19:17):
Bit about ah?

Speaker 12 (01:19:20):
I think it's I think it's background shatter mainly. I
don't I don't know. There are so many little stories
of trouble popping up all over the place that I
don't think it's going to get as much attraction as
perhaps it would have done in a quieter time. But
there's no question, you know the Conservatives are going to

(01:19:43):
lose this election. I didn't think that was necessarily true
two weeks ago until Farage jumped with both feet into
the mix, and that changed everything exactly, and it demoralized
the Tories, and it also wrecked their vote. I think
we're in a very different position now.

Speaker 3 (01:20:02):
Can the euro save the mood? I mean, are you
bringing at home or as Gareth not quite the genius
that some have might amount to be.

Speaker 12 (01:20:10):
I don't think. I think goodness me. I think Richie
Senak would be a better manager of the England than
Gareth Southgate. I think he is an atrocious manager and
our last game was a nil one home defeat by Iceland,
a country which as you know, has three hundred thousand
people in it. However, there is a link between the

(01:20:32):
feel good factor of doing well a football and winning elections.
The famous one was nineteen seventy when Edward He's came
from Behung to take the election from Harold Wilson because
England had been evicted from the World Cup unexpectedly and
the nation was in gloom and decided to vote for

(01:20:52):
the opposition. Richie is expecting a reverse ferrit here that
Gareth Southgate somehow gett through to the semi finals of
the Euros and a feel good factor. I don't see
it myself.

Speaker 3 (01:21:06):
All right, right, do you have a good weekend and
we'll catch up next Tuesday. Rod Little with the news
out of the UK and the campaign of twenty twenty
four sixteen two, the host Rexist thirteen to nine. Mike said,
the review of banks is rural only. Why not for
all small businesses? Sixty percent of bank profits come from
small businesses, et cetera. You're wrong, you heard it wrong,
whatever the case may be. It's a complete banking review

(01:21:29):
and the law be called. All the banks, retail banks
and the Reserve Bank are going to be called, and
so it's all in on the bank. So it's not
just rural. There's an emphasis on rural, but it'll all
be covered off. Back briefly to Kevin Spacey. Well worth
watching if you followed the Spacy story and the Piers
Morgan interview, which is on YouTube easily accessible for everybody anyway,

(01:21:49):
The point of it is hour and a half long.
You come away irrefutably with the conclusion that Kevin Spacey
has been stitched up. What my suspicion going in was
showing to be correct. He at his height was clearly arrogant.
He did things, said things, behaved in ways that you
would find unacceptable or upsetting or creepy. And he was

(01:22:13):
one of those blokes in the theater, and it comes
across a little bit in the interview. I mean the
interviews a very good interview, but there are moments where
you think how much of this is real, how much
this is acting on his part. He's a very theatrical
sort of personality, which is not to criticize him as
just a year is who he is. Anyway, The upshot
is this The initial allegations were criminal, though he was
found not guilty. There was some civil action in court

(01:22:35):
he was found not guilty. There was a couple of
nutbars who went after him and it became a pile
on and this is the great sadness of this whole thing,
and he was a victim of the whole cancel culture
still is canceled, and he's been found guilty of nothing. Nothing.
The alleged headline out of yesterday was he was a
bit handsy. He said that before this wasn't new. He

(01:22:58):
did things with people that were over avert and flirty
and for some too much. But when it got tested
in court, there was nothing there. There was one person,
for example, who was sixty something years old, had cancer
and accused him of sexual assault, and he died before
it ever came to court. He could prove he wasn't
even there. He wasn't even in the state when allegedly
the event came. There was another woman who was a stalker,

(01:23:20):
had sent white powder to the Old Vic. They had
evacuated the Old Vic because of this nutter. She was
stuck in jail. She came out of jail started making accusations.
They were working out whether she could go back to
jail again. When she started making the accusations that she
had been sexually assaulted. It came to nothing. It became
a pile on And he was asked, quite rightly, how
is it possible, given that nothing actually has come out

(01:23:41):
of this other than rumor, innuendo and perhaps some behavior
that you later regret, how is it you still canceled?
And he said, not enough adults in the room. And
I thought there was a very good way of putting it.
In other words, the world is full of people who
live in fear, and so as many and he said
Prince Charles as he was then, gave him some support.
Elton John David Furnish gave him some support. Have been

(01:24:03):
supportive ever since. Sharon Stone has given him support. And
that's where it became quite emotional because he became very
upset because very hard for these people to give support
publicly to a person who had been canceled. And what happens.
There was a Channel four documentary that went out in
Britain the other night that was basically a stitch up,
and they played bits of it and they had the allegations,
They talked to the allegations. He proved why the allegations

(01:24:27):
weren't true. And so it is, as I say, just
a pyle. And so you come out as I think
the tide has turned, or it hasn't turned, it's turning.
You come out with some real sympathy because this guy's
life's over, it's finished. He's got not a cent, he
has no work. His house was being foreclosed on yesterday
in Baltimore. He's been wrecked by this and yet there
is not a single court anywhere in the world that

(01:24:50):
has found him guilty of anything. So it's well worth
a watch. Nine to nine.

Speaker 1 (01:24:56):
The my Cosme Breakfast with Arfeeder.

Speaker 3 (01:25:00):
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the fabulous Jaguar. Pasking Gin who's with BTS has been
let out of the military been there for the last
eighteen months, and to celebrate he today is hugging one

(01:26:07):
thousand fans three hour marathon, first public events since being discharged.
Chosen in a raffle. He actually wanted to Will suggest
he was going to hug three thousand of them, but
they said tone it down, Gin So there's only a thousand.
So he's going back to BTS and very very sad.
Ocho the chocolate company, very sad to hear about their
demise out of Dunedin. Of course, Kraft Chocolate. This is

(01:26:28):
talking about beer earlier on in the excise tax. Craft
beer is going through a very difficult time. Chocolate's another one.
A lot of boutiquies around the place making the chocolate,
making the kom butcher, making the craft beer, and it's
not going well. And it's a lesson, I think a
warning in crowdfunding because Ocho went into the crowd funding.
First one was twenty seventeen. They raised a couple of
million dollars from three and a half thousand investors. Then
they went again in nineteen and got another thirty seven

(01:26:52):
hundred investors, and so you know, you think, oh, yeah,
that's cool, that'll be fun. I'll do a bit of that,
all that sort of stuff and didn't always work out
that way. Five Away from nine.

Speaker 2 (01:27:01):
Trending now with the Squarehouse, the home of big brands Skincare.

Speaker 3 (01:27:06):
Max Withstapham has been asked who are the top five
drivers of all time? And the answer is given controversial Apparently.

Speaker 22 (01:27:14):
Five best drivers in have one history.

Speaker 1 (01:27:17):
Hmm, so you know what it is.

Speaker 3 (01:27:20):
Whatever h is, people will comment on and not agree with.
It's not too soft, it's yeah, it's it's a hard question.

Speaker 22 (01:27:27):
Yeah, yeah, I would go, you know, Michael probably Arreton,
Fernando Lewis and a fan us call.

Speaker 3 (01:27:40):
Yeah, that's not bad. They didn't include Jim Clark, Alarm
prost didn't he say it was yet in scenery went
with Alan Pross, Jackie Stewart or Sebastian Vettle. But as
he said, he was one hundred percent right anyone. They
started commenting. The best comment of the morning was any
list without Logan sergeant in the top five can't be
taken seriously. And then, of course, being the Internet, they

(01:28:01):
started trolling and they went down to the worst drivers,
worse five drivers of all time Logan Sergeant Nikita Mazapin
Nicholas Latifi Nick to Freeze, which is interesting because and
then Tucky in a way who I don't know that
I remember, which is interesting because all those guys are current,
and which also goes to show that people don't have
any history knowledge at all, because they've been far worst

(01:28:23):
driver than these guys. And Mazapin wasn't necessarily about drivery,
just happened to be Russian and his dad was Russian
and the war started, so that was problematic. Nick de
Frees is doing he's in formulae these days anyway, but
a fun for years. That's us for another day back.

Speaker 11 (01:28:40):
Can you please never do that ever again?

Speaker 3 (01:28:44):
Back tomorrow morning at six for the Mike Hosking Breakfast,
Friday Styles Happy Days.

Speaker 2 (01:28:55):
For more from the Mic Asking Breakfast, listen live to
news talks that'd be from six am days, or follow
the podcast on iHeartRadio

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