Full Show Podcast: 20 May 2026

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
No fluff, just facts and fierce debate. The Mic Hosking
Breakfast with Defender Embraced the impossible news talks had been Welling.

Speaker 2 (00:09):
And welcome today the Public Service Plan, the International Student Boom.
Grant Dalton on this week's start to the America's count
Mark and Jinny Politics Wednesday, of course, Richard Arnold in
America's ce Price will file the good Oil from Austraight Hoskey,
Welcome to Wednesday seven past six. Is the Willis public
service announcement to be admired or condemned? I think the
former on balance, they should have done it properly, of

(00:30):
course two years ago, and they didn't. Hence they probably
should not be back here now unless unless this was
their Macavilion plan all along two public service haircuts a term.
But assuming that wasn't it, we go back to a
lost opportunity that should be could be in the rear
vision mirror by now. What they talked, if you remember
what they talked.

Speaker 3 (00:47):
Was a big game.

Speaker 2 (00:48):
What they delivered was the surgical whimper. Yes, it's always
sad to lose jobs and restructure and cut, but few
outside the Wellington bubble would argue with the fact that
the growth engine of public service work was absurd and
sixty five five thousand is a city, not a workforce.
To make it worse, they got the same headlines and
noise and pushback if you remember, over a couple of
thousand cuts as they would have ten times over. So

(01:09):
we're back for another crack driven by necessity. This is
the bit to be admired. I mean laying lots think
about it. Laying lots of people off an election year
is not really a vote getter, mind you. I think
it's fairly safe to say most of the public service
are probably not conservative, so the vote loss may well
be minimal. It's a horrible thing working in an environment
where your future is part of the political wind. I

(01:30):
faced it at TV and Z and radio and New Zealand.
Whoever woke up on what side of the bed had
some effect on what you were paid and whether you
were hanging around long. It's no way to have a job.
And in that sense you can blame the labor government,
I mean stacking the place with well paid work. And
yet as you applied, if you thought about it, surely
you would have thought this can't last. And it hasn't.

(01:50):
This as the Union's bleat is not about the public
service and its value. I mean they do a lot
of good things, a lot of vital things. There are
a lot of very capable, if not talented people in
the mix. But it's the extra, the excess, the fat
that needs to be trimmed. This is fiscally desperate to
a degree, and operating allowance now of two point one
billion and savings from anywhere and everywhere. I mean, you

(02:11):
can't accuse the government of priming the pumps. The pumps
don't work because the vandals stole the handles. If you
know you didn't them. The point, slashing spending and killing
jobs is not your traditional electioneering, is it that's to
be admired?

Speaker 1 (02:25):
Why news of the world in ninety seconds?

Speaker 2 (02:29):
Well, the old Schemeister's busy Trump last week. Now Putin's
in the house.

Speaker 4 (02:33):
Of love with some world, the.

Speaker 5 (02:35):
Regular exchange of vessels and high love of Russia China
talks are an important and integral part of a giant
efforts to develop the full range of relations between our
two countries and a lot they're truly Lemane's potential.

Speaker 2 (02:48):
I can do seeing Donald's still ducking and diving over
that attack on a rum that was on and still it.

Speaker 6 (02:53):
Wasn't they come to the table. They're begging to make
a deal. Because they're begging to make a deal. I
hope we don't have to do the one. We may
have to give him another big We may have to
give him another big y. I'm not sure yet.

Speaker 4 (03:05):
We've been Hammerton.

Speaker 2 (03:06):
Very soon he's out of the ballroom having a look.

Speaker 3 (03:08):
Anyway.

Speaker 2 (03:08):
I meantime's lawyer who wants to be ag was busy
trying to deflict on this one point seven billion dollar
slush fund that's got so many aghast.

Speaker 7 (03:15):
It's not limited to Republicans, it's not limited to the
Biden weaponization.

Speaker 1 (03:21):
It's not limited to in.

Speaker 7 (03:23):
Any way scope or form to January sixth, or to
Jack Smith. There's no limitation on the on the claims.

Speaker 2 (03:31):
Everyone can apply. Ironically, also in DC is attorney for
the city as busy trying to hose down violent teens,
which you would have thought got del to by ice.

Speaker 8 (03:39):
You know what your kid is doing. You know your
kid is violating curfew. There's been two or three curfew violations.
I'm coming for you. People should not have to come
to the nation's capital and worry about these digitally organized
takeovers that take ten minutes.

Speaker 2 (03:55):
You won't happen to Ice then in Britain, despite the
fact Grenville happened nine years ago, if you can believe it,
they're just now looking to lay some charges.

Speaker 9 (04:01):
PLESE are looking at corporate manslaughter, individual gross negligence manslaughter,
they're looking at fraud, they're looking at breaches of the
health and safety at workout and misconduct in public office.
But the final decision will be for the Crown Prosecution Service.

Speaker 2 (04:17):
Indeed, in a Bowler update, Dr ted Ross with a
good layer of earnestness.

Speaker 10 (04:21):
There are no vaccines or therapeutics. In the absence of
a vaccine, there are many other measures countries, of course,
can take to stop the spread of this virus and
save lives even without medical countermeasures.

Speaker 2 (04:37):
Finally, spring art seasons underway in New York. Steady on,
steady on. These spring art seasons underway in New York.
We got the Jackson pollock that's been bought for Bigcoin
number seven, a nineteen forty eight to ten feet long
that was pollock for you all day long. Put it
on the floor through paint or liberty, and people thought
that was clever. It was under the hammer at Christie's
one hundred and eighty two point two million, one hundred

(04:58):
and eighty one point two million, and that's us most
expensive polic Episold publicly also had a roth go. He
called it number fifteen. That's a couple of greens and
a red stripe ninety eight mil. If you don't mind
News of the World in ninety I've got good news
on Deary the auction this morning, but I'll leave that
for Andrew. That's why we're paying the big money. But

(05:19):
I've also got good news on Japan. You're ready for
some more good news today along with the fine Whether
Japan's economy grew two point one percent, they thought it
was going to be one point seven, so to the upside,
so we'll take that. Twelve past six.

Speaker 1 (05:33):
The Mic Asking Breakfast Full Show podcast on iHeartRadio powered
by News Talks.

Speaker 2 (05:39):
EPY Confirmation Walsh is going to be as in fed chair,
going to be sworn in Saturday. He'll be the eleventh
chair of the Modern Era. Everything's been ticked off their
thirty year Money in America five nine, keep watching fifteen
past six now for sure and partners in the early
hours of a beautiful rainy or sunny whatever, Sydney Andrew

(06:00):
Kella have very good morning to you.

Speaker 4 (06:02):
Very good morning, Mike.

Speaker 2 (06:03):
Now give me the good news on the dairy.

Speaker 3 (06:05):
Hey.

Speaker 11 (06:05):
Now, look, we've got this Middle East conflict, We've got
the tension as that continues. As we always say, Mike
and I always say, the wheels of Commas.

Speaker 4 (06:14):
Keep turning, don't they.

Speaker 11 (06:15):
And we've got these these various pillars of our economy
we've been talking about this week. We've had tourism services sector.
Now we're going to talk about the agresector. Well, tourism
markets they continue, their recovery. Services sector are stalling a bit.
But a key part of the agresector's dairy exports. We
had a global dairy trade auction overnight and the Global
Dairy Trade Price Index has lifted zero point six percent.

(06:38):
Now that follows a one point five percent lift in
the auction on the fifth of May. So look, look, Mike,
we might have had a wee wobble in April. Everyone's
allowed to we wobble every now and then. We've saw
a couple of chunky falls in that price next in April,
but just take a step back on this. If you
look at twenty twenty six in totality so far ten auctions,

(06:58):
eight of which have.

Speaker 4 (07:00):
Seen an increase in the price index.

Speaker 11 (07:02):
Now you would have to call that a positive first
five months, wouldn't you, in the face of global uncertainty.

Speaker 4 (07:08):
I'm just sort of drilling down to the various commodities.

Speaker 11 (07:11):
Butter up two and a half percent, up two point
nine percent, cheddarfel one point three percent.

Speaker 4 (07:17):
The larger components are.

Speaker 11 (07:18):
Skim milk powder up zero point two percent, small gain,
and whole milk powder up a healthy one point two percent.
So look, skim milk powder continues the sort of steady
climb that started back in December last year. That continues.
Whole milk powder to me looking very stable. It's been
sitting in a narrow range. So at the moment, Mike,
the market for dairy products I.

Speaker 4 (07:38):
Think is looking we'll use this word again, resilient.

Speaker 2 (07:41):
I believe, so not so much with spending though, yeah,
not really.

Speaker 11 (07:44):
So we're starting to see this kind of complex interplay
between you know, you've got fuel prices that hits inflation
expectations straight away, Inflation expectations hit consumer confidence straight away,
and the final.

Speaker 4 (07:57):
Act is the actual spending.

Speaker 11 (08:00):
What are you all putting on your credit cards and
at the moment you kind of putting them away. So
overall card spending fell and April probably not an unexpected result.

Speaker 4 (08:08):
A few key points.

Speaker 11 (08:10):
The observation is pretty broad based. It's a general malaise,
it's not specific. So you had a monthly fall of
one point three percent for retail electrotronic card transaction that
was probably weaker than people were thinking. Now, these numbers
are not inflation adjusted, so they're just amounts that get
processed against your various electronic cards.

Speaker 4 (08:30):
Annual change two percent.

Speaker 11 (08:32):
Last month, the annual change was two point seven percent,
So the spend is growing, the spend is growing at
a slower pace than inflation, So in real terms, you
are spending less total card transactions you include non retail
file one point six percent. Now, if you strip out
the volatile stuff like fuel also fell one point three percent.

Speaker 4 (08:52):
Annual rise there one point four.

Speaker 11 (08:54):
So the really interesting aspect of the data mic is
that the April spending on fuel actually decline now compared
to mark, but fuel prices actually went up, So it
indicates we really pulled back, didn't we We didn't fill up.

Speaker 4 (09:08):
We didn't go.

Speaker 11 (09:08):
Places we prioritize trips because I think in March fuel
spending lifted sixteen percent.

Speaker 3 (09:14):
Mic.

Speaker 11 (09:15):
I think what's really interesting here, though, is what happens next,
and I think that's dependent on the outcome in the
Middle East.

Speaker 4 (09:20):
I would there's a we warning here, though.

Speaker 11 (09:23):
Even if we get a swift resolution, which may repair
some confidence in the short term and provide some certainty
that the increased costs that we're seeing, they are going
to linger, They're going to keep feeding through for a
little while, so we don't expect may to be much better.
It won't reverse it immediately, but look, it really just depends.

Speaker 2 (09:41):
On what happens exactly. Give us a quick word on
the bond Yeah.

Speaker 11 (09:45):
Bond mircers this week, So inflationy concerns being expressed by
markets and longer bond rates.

Speaker 4 (09:49):
You just mentioned the US thirty.

Speaker 11 (09:51):
Well, actually yesterday our bond rates fel mic PPI inflation,
business inflation actually running lower than CPI inflation at the moment.
But yeah, that pesky thirty hitting sort of twenty year
highs Mike. What we're seeing every day is the tween
tension between weaker growth, which implies lower bond deals and
inflation concerns, which implies higher bond yeals. It means markets

(10:12):
are going to stay volatile.

Speaker 2 (10:14):
Numbers please radio.

Speaker 4 (10:16):
The Dow Jones is down eighty one points, so not
much point one.

Speaker 11 (10:20):
Six percent, forty nine thousand, six hundred and five back
under the fifty thousand s and P five hundred down
fifteen pointser point two percent seven three eight eight and
the Nasdaq down about a third of percent ninety seven
points twenty five thousand, nine hundred ninety three.

Speaker 4 (10:36):
Obviously everybody waiting on.

Speaker 11 (10:37):
In video results, the foot C one hundred barely moved
to ten thousand, three hundred and thirty. The Shanghai Composit
down point four to four percent, sixty thousand, five hundred
and fifty Shanghai compset up just under one percent four
one sixty nine. The ASX the Australasian markets bounced back
good day yesterday, the ASEX two hundred up ninety nine

(10:57):
points eighty six oh five one point one seven percent
and a storming day which we like to see on
the INSEEX fifty led by Fish and Pocal Healthcare twelve
nine hundred and seventy four up two hundred and eleven
points one point sixty six percent, Kimi dollar point five
eight three nine little weaker against the US point eight
two eight something, that's a little stronger against the ossie

(11:19):
point five oh to euro zero point four to three
five five pounds ninety two point seventy six Japanese again,
gold four thousan four hundred ninety nine dollars and break
cred still up there, one hundred and ten dollars and
thirty nine cents.

Speaker 2 (11:31):
You're a top bloke. See you tomorrow, Andrew Keller here
Shore and Partners pre depot. The reason I tell you
they've got to beat the court. Consumer remains engaged even
in the face of high gas prices and plummeting consumer confidence.
This obviously is in America, but it's an interesting insight
that despite all the problems, people still spend, which is
not what's happening here.

Speaker 3 (11:50):
Of course.

Speaker 2 (11:51):
Meantime, Sweden have announced overnight they're buying four navy warships,
which is quite a lot because they're four billion dollars
worth of business. That's going to see their aired defense
capacity triple country's biggest defense investment since the nineteen eighties.
So the significance of that, of course, is they are
the newest member of NATO, so you've got to spend
a bit on defense. So that's a that's a major purchase.
Six twenty one and a half hered. News Talks'd be.

Speaker 1 (12:18):
The Mike Hosking Breakfast Full Show podcast on iHeartRadio powered
by News Talks.

Speaker 2 (12:23):
It'd be another day now. The poll for Trump is
the New York Times seeing a poll approval rating thirty
seven percent. Two thirds think the war now is the
wrong decision. Two thirds three quarters of those seventy five
percent of independence think it's a mistake, and that's critical
for the midterms. Of course, I'll come to more of this.
In just a couple of moments, less than a quarter
of all voters thought the conflict had been worth the costs.

(12:46):
And that's the problem with wars that dragon deals that
don't get done. If he had hit them, hit them hard,
come out of this in a couple of weeks, he
might have got away with it. But he's not now,
which brings us to sink.

Speaker 1 (12:59):
Now ware house me me him sale on now.

Speaker 2 (13:03):
So it's primary time again. We're in Kentucky today, so
you've got the incumbent Thomas Massey. So he's no friend
of Trump, and that's the story. He faces a guy
called Gaul Ryan, who's a fifth generation farmer in a
Navy seal. He's got the Trump endorsement. The money being
spent on this is ridiculous. It's the most expensive house
primary in US history, thirty two million dollars. It's just
a primary, twenty million of witches and the pro Trump,

(13:27):
pro Israel groups for gul Roan, deep fake ads all
over the place. Anyway, he's basically when he picks somebody,
he wins.

Speaker 12 (13:38):
And there are those that say whoever.

Speaker 2 (13:39):
I endorse is gonna win.

Speaker 12 (13:40):
I don't know if that's true, but historically that's absolutely true.

Speaker 1 (13:43):
I just don't like to said because they don't like
to brag.

Speaker 2 (13:46):
When he says he doesn't know if it's true, he
knows it's true because the other day is listening to
him saying he's got one hundred percent record on it,
and he said, everyone I wins. So to say he
doesn't know, he just makes it up as he goes along. Anyway,
Pole's closed this morning at ten hour time. So far
in the if you go back to the twenty twenty
four primaries. Verse votes came in six minutes after the
poll's closed, and we're getting fairly quickly. He's also endorsed

(14:07):
Trump Texas A. G. Ken Paxton for the Senate race
over the incumbent Cornan. That's also the most expensive Senate
primary in history. Cornyn and Paxton have currently spent one
hundred million dollars each. It's amazing, isn't it? Still come
to the jobs after seven o'clock this morning? Now, the

(14:29):
spending is interesting depending on where you look, is it
material or not? So what I can't work out and
is why we've got an expert on the program in
a couple of moments, is the spending. As Andrew alluded
to a couple of moments ago, we're spending less on petrol,
but the petrol price came down. So you would think
as the petrol price came down that money that we

(14:49):
saved would go off into other areas that we'd cut
back on. So we'd buy more ice creams because we
cut back on the ice creams to pay for the petrol.
That doesn't seem to be happening. So the question is
is this cycle logical? Have we got ourselves in another
one of these spending funks. We'll have a look at
some of these stats where you after the news, which.

Speaker 1 (15:05):
Is next asking the questions? Others won't the mic asking
breakfast with Bailey's real estate one percent key we owned
and operated news togsdbre.

Speaker 2 (15:16):
The voting in six states today in America's Richard Arnold's
all over that, and Todd Lanch trying to defend the
one point seven billion friends and family nonsense. Anyway, more
shortly from these stage back here at twenty three minutes
away from seven later, start around that money, how much
we spending, how loose the old wallets are. Obviously it
should be down given the price of petrol, but it's
down more than we thought. I think, no, one point
six percent dropped for March. Nick Brunson is principal economist

(15:39):
and for Metrics is back with a snak morning to you, Mike.
Was it more than you thought a little bit more?

Speaker 13 (15:45):
Yeah, and interesting to see where people are making the
money up as well. I'm spending less on fuel, suggests
that we're not cut back from the panic buying in March.

Speaker 14 (15:57):
Yeah.

Speaker 2 (15:57):
See that's the part that surprised me, because of course
the month petrol went down from the peak. Therefore, if
you had a dollar and you spent a dollar on petrol,
now you're spending eighty five on petrol, you take the
other fifteen spend it elsewhere. It doesn't seem we did.

Speaker 4 (16:11):
Well.

Speaker 13 (16:11):
Bearing in mind from March to April price is still
went up largely the sort of the decrease that hasn't
really come through until until May. So with prices going
up in April, people still spent less, which suggests there
was an awful lot of panic buying going on in March.
But people really are trying to travel less to kind

(16:32):
of make you a budget balance consumables.

Speaker 2 (16:34):
It helped me out here because you're the expert.

Speaker 3 (16:36):
I'm not.

Speaker 2 (16:36):
When we say consumables and it's down two point one?
What are consumables?

Speaker 13 (16:40):
Literally, gogga that we'll be supermarket spend things you use
and eat in the month. So people have teared back
what they're spending at the supermarket to make up for
that increased field bill, probably to make up for last
month's increased field bill as well.

Speaker 2 (16:53):
Okay, then non retail, so it's medical, health, travel, et cetera.
Down four. That's material force material, isn't it.

Speaker 3 (17:00):
Yeah, definitely.

Speaker 13 (17:00):
It's also the most discretionary part of the of the
spending baskt. It makes sense you're going to spend less
on holidays, less on potential, less of the dentist if
you're trying to make up make up your dollars to
filter tank.

Speaker 2 (17:12):
Are these solid numbers? In other words, when you see four,
can you get noise around monthly numbers? Or do we
take four as being four?

Speaker 13 (17:21):
I still wouldn't make too much sort of a song
and dance with that one month and results. And it's
interesting to note that, you know, with that big wall
of of fuel price increases in March, people didn't spend,
didn't cut back, they spending on others. But it has
I guess people are sort of stewed on it and
said maybe we shouldn't be going to to RaRo this
this winter and sort of pull back.

Speaker 4 (17:41):
Yeah.

Speaker 2 (17:42):
See, but as far as I know, people aren't going
to Rarow I mean, we're still spending on I mean,
are we?

Speaker 3 (17:47):
I mean?

Speaker 2 (17:47):
Or am I just I just surrounded by people to
go to Rara Tonga. It just seems everyone's traveling still,
Although you would argue the numbers just prove that not
to be true, there's also a big leg.

Speaker 13 (17:57):
You know, people are probably poking quite a few months
in a var and I think when it was when
the fuel prices went up in March, some people maybe
set in the sidelines and thought it might have been
a flash in the tan. And although fuel prices have
come back out of tiny, but they're still still pretty expensive.
And I think people are starting to say, oh, it's
going to be around for a while, we need to
cut out class.

Speaker 2 (18:14):
So is that the psychological thing now we've worked ourselves
into a fiscal funk?

Speaker 13 (18:20):
I think so. And yeah, there's been a lot of
noise around sease fires and in the end of the war,
and I think we're sort of progressively losing losing the
faith we did heaven those sease flies, and I think
sort of settling in for a longer ride, which means
lower spending.

Speaker 2 (18:35):
Well, what does doctor Ranna do next week? Because you
can't hike with.

Speaker 13 (18:38):
This No, literally, I don't think next week. I Ultimately,
these pro price increases are coming from other seas fuel
for the larger that's sort of okay, that's not her problem.
Where it does start to become her problem is when
other businesses are starting to pass through those cost increases
in an aggressive way. So if we see the supermarkets
starting to push through diesel, were like, should cost increases

(19:00):
quite aggressively. That's the point in which we start to
get inflation locally, and that's the point in which we
have to start hiking to sort of get things back
on it.

Speaker 2 (19:08):
Sir, what are you saying, July Ish?

Speaker 3 (19:11):
I think so.

Speaker 13 (19:12):
I think that's becoming more likely, and certainly towards the
end of the year expects couple of heights.

Speaker 2 (19:17):
Interesting, All right, Nick, appreciate your expertise. Nick Brunston, who's
the principal economist at Infra Metrics with us this morning.

Speaker 4 (19:22):
Mic.

Speaker 2 (19:23):
Some of the public service can pivot retrain. Many would
have degrees so they can do a one year postgrad
course and go into SAT. Of course they can. This
is the weirdest thing in the house yesterday is watching
Bishop Ginny v. Bishop Ginny asked the standard Labour Party question,
which is what her inference is that she was asking
about people in the hut obviously, and she goes what
happens to the people in the hut? And as though

(19:43):
if you lose your job in the public service and
you live in the hut. You will go home and
never be heard from again. And Bishop was trying to
explain that this is a dynamic economy. People are going
to be generally fine. If you're skilled, if you're diligent,
if you're a professional, if you're a hard worker, you'll
be fine. You'll go off and find another job. No,
it's not fun getting laid off, and we've all been there,
but you will go and find another job, because that's

(20:05):
how dynamic economies work.

Speaker 1 (20:07):
Eighteen to two The Mic Hosking Breakfast Full Show podcast
on iHeartRadio powered by News talksp.

Speaker 2 (20:16):
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(21:00):
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Interests through the roof. Pillars dot co dot Nz beautiful
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(21:22):
twelve to one is what I'm trying to say, Split
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of two thousand and eight. But Pillars dot co dot
n z asking Mike is Hipkin's refusal to reveal policy
details until after the election an active on witting Macabellian
self sabotage or just pure left wing dipshittery. Very good
question and nicely worded. You refer, of course to the

(21:44):
future fund. I have much to say after seven o'clock
six forty.

Speaker 15 (21:47):
Five international correspondence with ENZ and Eye Insurance, peace of
mind for New Zealand.

Speaker 2 (21:52):
Business is not going on, Richard.

Speaker 16 (21:55):
There is been winning.

Speaker 4 (21:56):
Mike.

Speaker 2 (21:57):
We got Blanche in the indefensible. We got the wall
that's not on. We got voting under one in six states.

Speaker 17 (22:02):
Hit me.

Speaker 16 (22:03):
Let's go with Iran. Wherever we heard this before. Trump
says he has postponed what he had describes as a
quite very major attack on Iran.

Speaker 12 (22:10):
He says, we were going to be striking very It
would have been happening right now. Yeah, it was all done.
The boats, the ships are all loaded. They're loaded to
the brim, and we're all sets to strike.

Speaker 16 (22:21):
Should say, all that noise and background nothing to do
with the military. It is work on the glittering golden ballroom.
Just one of Trump's vanity projects that are taking how
much of his time. This is the sixth time Trump
has been on the verge of initiating military strikes and
has pulled back comes amid ward that runs. Foreign Minister
Haras Errouchi has met with Pakas stands Interior Minister, and

(22:42):
it claims there is diplomatic progress we'll see on that
cut up the southeast and the UAE also have been
lobbying for a military delay, with the Economy's Court very
much in the middle of all of this. Meantime, the
US Defense Secretary Pete Hess, in the throes of the
war which has been at a stalemateman with such harsh
effects on world fuel and fertilizer supplies, The self described

(23:04):
Secretary of War is off on the campaign trail. The
situations you were just talking about. Voters going to the
polls right now in six states Alabama, Georgia, Idaho, Kentucky, Oregon, Pennsylvania,
with much of the focus on Kentucky, where there is
that fifty five million dollar New Zealand primary race which

(23:24):
has been underway and where Higgs Hass has slammed the
current Republican Thomas Massey. It is Massy, of course, who
has called for the release of all the Epstein files
as to who was associated with a pedophile. Trump is
backlashing at Massy today.

Speaker 12 (23:37):
Thomas mass is a terrible congressman. He's been a terrible
congressman from day one. Dealing with him is just a
horrible I don't think he's a Republican. I think he's
actually I think he's actually a Democrat.

Speaker 16 (23:50):
Trump has taken to calling the Democrats democrats, while some
lives are calling Republicans repepublicans over the Epstein scandal. So
this is the nature of things right now. While Higgs says,
defends his boss as ever.

Speaker 18 (24:02):
When Conservatives are fighting the most radical left in American history,
too often, Massey's instinct is to throw elbows at fellow
Republicans instead of the people who are destroying our country
or want to destroy our country.

Speaker 1 (24:17):
And there's one man standing in their way, and it's
President Trump.

Speaker 16 (24:21):
Well over in Capitol Hill, Trump's former criminal lawyer, Acting
AG Todd Blanche refused to rule out slash money payments
for some of the January six rioters from at one
point seven billion dollar fund the Justice Department created and
which is to be overseen by Trump. Says Democratic Senator
Patty Murray.

Speaker 19 (24:38):
This is corruption that has never been more blatant or
more right spent. What is happening is you write the check.
Trump and his Corney's cash it American taxpayers who are
already being worked with high prices are going to flop
the bill.

Speaker 16 (24:52):
Let's say the Republican Senate leader Johnson now has joined
the Dems in opposing this fund, saying he is quite
not a big fan of the idea, does not see
any legitimate purpose for it.

Speaker 2 (25:02):
What's the update on San Diego?

Speaker 16 (25:05):
Well scattered in abandoned kids lunchboxes you can see at
the sight of this later's shooting at the San Diego
Moss where three men were killed by two teenagers. Police
got to the scene what four minutes after being called
when the shooting started. They were already searching for the
two shooters, Cane Clark, aged seventeen, and Caleb Basquez, eighteen.
The mother of the younger teen had called police shofters

(25:27):
she found a suicide note and found that her firearms
and her car were missing. The police chief says the
note was filled with hateful rhderick.

Speaker 1 (25:34):
Those writings are are free downing Well.

Speaker 16 (25:36):
The security guard of the mask, a father of eight,
was shot dead. He was known as Brother Iman, and
his friend Sam says he put himself in the line
of fire deliberately.

Speaker 8 (25:46):
I know.

Speaker 20 (25:48):
That he knew he was sacrificing his layer for the kids,
because if he didn't take that bullet.

Speaker 9 (25:56):
They would easily walk stup stairs.

Speaker 21 (25:59):
And there's just innocent eight and younger and women, and
you know, people that couldn't defend them.

Speaker 16 (26:05):
So make even police are saying his actions were heroic.

Speaker 2 (26:09):
Within a couple of days, Richard Arnold state, so I
got some housing news for you in a moment, Nicola
willis on the jobs. By the way, after seven ten
to two, my.

Speaker 1 (26:16):
Costing breakfast with Defender and news togs dead be.

Speaker 2 (26:19):
On some fun can news was not really fun? What's
sort of fun? Honda have gone and lost? I was
looking at a preview review yesterday of the Prelude. So
anyone bought a Preli the new prelu they've got a
new disappeared for years, decades. Once upon a time, the
Prelude was like a car to have. It was a
sort of a two door GT sporty sort of You thought, whoah,
remember the chief executive Radio in New Zealand many many
years ago, had a Prelude and she drove past me

(26:40):
on the terrace and I thought, my god, if one day,
if I could drive a Prellier, that'd be amazing. Anyway,
they've got a new one. But they've lost money. Honda
have lost money internationally for the first time in seventy years,
and Dove tailoring with that. Suzuki have about sold Honda
for the first time in Japan, so they've become the
second biggest selling car maker in Japan. First is to
outer obviously, and so that's the first time that's happened

(27:01):
since nineteen fifty five. So the winds have changed. You
are blowing through the car industry in Japan. Suzuki sold
three point five five million vehicles and Honda sold three
point three. To be fair, Suzuki don't operate in China
in the US, so you've got those terrafy type things.
Excuse me, shouldn't clean a throat on air? Very bad manners.

(27:23):
Five minutes away from seven, all the ins and the outs.

Speaker 1 (27:27):
It's the fizz with business fiber. Take your business productivity
to the next list.

Speaker 2 (27:33):
The housing market. Now we've got coach tells his monthly
housing chart pack It says, I don't know why they
added the word pack because it isn't a pack. I
haven't seen it. But can you have a digital pack?
It's not the same as it anyway. Show sales last
month were down nine percent. First four months of the year.
Activities down five percent, which is about fifteen hundred fewer

(27:55):
deals done in nationwide. Kelvin Davidson, who we love, is
while the numbers aren't big, shows a market that's struggling
to regain momentum. I think that's true. Katie was hanging
out with a couple of real estate agents yesterday and
Jeb she said that they told them the same thing,
basically a value wise, not much as change. We're barely
zero point one for the month, zero point six across
the last three months, so she's flat basically, which is good.

Speaker 4 (28:17):
I would have thought.

Speaker 2 (28:18):
First homers loving life. First homers are partying up big time.
Twenty eight point two percent of the purchases in April
are first timers, thirty percent in Auckland. Did you get
the Wellington number? Because the Wellington numbers normally higher than that.
You didn't get the Did you get the Wellington number?
Give me the Wellington number. Rentals numbers followed. Trade me
gave you the trading numbers yesterday. Small increase zero point

(28:38):
three for April, drops in February and March. If you
dig a bit deeper, rentals are still down between two
and four percent in Auckland and Wellington, offset by some
increases in Dunedin four point seven and two point one
in christ Jute. Most of us think the interest rates
are going up, so people fixing for longer than twelve
months is back over fifty percent compared with around twenty
percent in December last year, so that's material. I don't

(29:00):
know how much more they're going up. I mean, how
much more can you put up at one? They're reading
the market, so I don't think about the RB when
the RB moves, as they eventually will. You know, people,
this stuff's already priced in. But how much can you
squeeze a market at the moment? You know, if you
suddenly go six percent and people going, well, hold on,
I'm not borrowing any money. So you got that. Then
we come to the asp housing confidence. So price expectations

(29:21):
have fallen in the last three months. Only nineteen percent
of people expect prices to arrive over the next year.
That's down from thirty We're still on the positive side.
More people now expect prices to stay flat rather than fall,
so that's good. So the falling bits. Over forty eight
percent expect interest rates to increase over the next year.
I don't know why that's not higher, because interest rates

(29:44):
are going to increase over the next year. They only
gave us Auckland and christ Church. What's the point of
calling it a pack? What's the point of calling it
a pack of the pack's not full of the information
I wanted to know about Wellington because Wellington first time
buyers are booming. Speaking of Wellington, Ella Willis and the
job restructuring in the public service.

Speaker 4 (30:02):
She is next.

Speaker 1 (30:06):
Here yourself. Think it's the my costme breakfast with a Vita,
Retirement Communities, Life Your Way News TOGSADB.

Speaker 2 (30:15):
Morning, seven past seven, Right, the public service gets another
going over, this time eighty seven hundred jobs to be reduced,
two point four billion dollars saving planners to get to
one percent of the population. It'll take years, though they're
oaming for this time. In twenty twenty nine, Nicola Willis,
Finance Minister backward this morning.

Speaker 21 (30:29):
Good morning mate.

Speaker 2 (30:30):
Any regrets You should have done this properly two years ago,
shouldn't you?

Speaker 21 (30:33):
No, We've made great progress since we came to office.
We've had the number of policy analysts, administrators, managers that's
come down considerably. We've got better results out of the
public service, with violent crime down, educational achievement, art, health
waiting lists reducing. So we're making progress, but we've got
to double down and go harder. To make the public

(30:54):
service deliver the results that you expect, that the public expect,
it needs to modernize.

Speaker 2 (30:58):
So why are only two thousand a couple of years
ago in nine thousand now?

Speaker 21 (31:04):
Well, because to get fundamental changes, we need to completely
restructure the system.

Speaker 2 (31:10):
That's that's my argument.

Speaker 21 (31:12):
Well, we were initially doing line by line reductions. That
has been very effective. We've exerted a lot more fiscal discipline.
We've stopped the growth which was remember rocketed up from
forty seven thousand people when Labor was elected to sixty
three thousand.

Speaker 2 (31:27):
I get all that you're giving their history. What I
want to know is why do we need nine thousand
now when we didn't need nine thousand day one? You
had the license to get in there and rip into it.
You didn't, Well, we did, we two thousands, not nine thousand.

Speaker 21 (31:41):
Well, we're putting a sinking lid on Mike, and we're
doing fundamental changes. We're streamlining the agencies, we're embedding AI
and digitization. We've put that sinking administrative budget cap on
to make sure that the efficiencies and savings are released.
And we're saying to the public service, let's get out

(32:01):
of the eighties, let's make us fit for today. And
they're up for that challenge.

Speaker 2 (32:06):
Do you reckon? You know what AI can do?

Speaker 3 (32:09):
Well?

Speaker 2 (32:09):
As everyone just goes, well, we'll do some AI. I
mean most people don't have a clue what that means.

Speaker 21 (32:13):
Well, I've been experimenting with it in my office recently
and it's incredible. So instead of one of my analysts
spending half a day coming up with a document, they
said to AI, have a look at public service reform
around the world, tell us who's done what, what seems
to have worked well, what hasn't, And ten minutes later
you've got a beautiful document with some guidance and some advice. Now,
normally that would take hours of human time. Then you

(32:35):
put a human over the top and you think about
it a bit more keerfully, so it reduces mundane tasks
to mere minutes.

Speaker 2 (32:42):
Okay, Singapore runs sixteen ministries. Is that what you're ultimately
aiming for?

Speaker 21 (32:47):
Well, we want fewer than we have now, which is
around thirty nine. Singapore has sixteen, the UK has more
like twenty four, Australia has fewer as well. We'll see
what the logical groupings are because a lot of this
is about who they're serving. So if you think of
that example of INMSERT, which has brought together housing and
transport and environment, a lot of what they do is

(33:09):
engage with local government and local government instead of now
having to go to multiple different government departments, goes to
one place and that makes sense for them. Now we
want to have the same approach to the mergers elsewhere.
Who are you trying to serve? How do we make
it easier for them?

Speaker 2 (33:24):
Given it's over three years, is anyone actually getting laid off?
I mean, given the chur and going to lose that
many people in that period of time, aren't you.

Speaker 21 (33:32):
Well, we've set that target of getting it back to
one percent of the population, which is fifty five thousand.
That will require steady progress. So first we have to
stop the growth and then we have to bring it back.
And so we'll be reporting on it every three months
and I would expect that you'll be seeing attrition, you'll
set be seeing reductions, you'll be seeing changes regularly. It's
not something you can do overnight on the eve of

(33:54):
the target coming on.

Speaker 2 (33:55):
All right, appreciate your time. Nichola will As Finance Minister.
Did it worry you when she said you'd experimenting with
AI in the office? So like Claude, how many people
should I lay off from the public sevis? I think
eight thy seven hundred eleven minutes past seven tasking. I'll
tell you what's booming. International education full year data for
last year ninety two, five hundred and eighty international students enrolled.

(34:16):
That's up eleven percent in the year before. China thirty
four percent, India fourteen the year. Key markets for l
Ankor and Nepaul are emerging, apparently, Doctor Lindas Sistem's Education
New Zealand Acting Chief Executive with us Linda, very good morning,
good morning. We're sitting at eighty percent of COVID So
is this a thing or not? Are we getting back?
Will we ever be back? Do we want to be back?
Where are we at?

Speaker 22 (34:36):
We're certainly at that eighty percent and our goal or
the government's goal for twenty thirty four is around two
hundred thousand international students. I think We have difference between
before COVID and now is that the government's looking very
much at value as well as volume, and we're on

(34:59):
the track. That's too because this past year we earned
over the target of export earnings four point five billion dollars,
just under our target for number of enrollments. But the
momentum and the feeling among our population in New Zealand
in favor of international education is very strong.

Speaker 2 (35:22):
Good Is this organic or are we out in the
world hustling and selling ourselves.

Speaker 22 (35:27):
We're definitely out there hustling. We've just put in a
new regional director for India who'll be working there with
the team that already existed. We've also opened up an
office in Sri Lanka for the first time. That's a
fast growing new market.

Speaker 2 (35:43):
What are they studying? Is that universal? In other words,
are you spreading them around the country and spreading them
around degrees or is it highly specialized.

Speaker 22 (35:51):
It's pretty broadly based. Universities are the most successful hustlers,
if you like, in terms of international students. So there
is a real move on the part of perspective students
to look at the return on investment. They want to
ultimately get a job that will set them up for life.

(36:12):
So definitely, degree level post degree is very strong. In
terms of around the country, Well, Auckland are still fifty
percent of where international students are and that's only to
be expected. Canterbury second growing very strongly and Waikato the
third which has also had extremely strong growth.

Speaker 2 (36:31):
Good to hear Linda Good Insight Systems doctor Lindassistants, Education
New Zealand Acting Chief Executive. It's very like tourism, isn't
It's not necessarily about the numbers, it's about the spend.
Thirteen minutes past seven, Pascal, I don't think it's a
good strategic move by National to be announcing the cutting
thousands of government jobs months out from the election. This
will affect a massive number of people and not a
good way. You see, That's what I said. You weren't

(36:51):
listening at the start of the show, clearly, and that's
why it's to be admired because it's not political and
the last thing you want in the situation we have
in the country at the moment is a highly political
government that does everything for votes. What you want as
a government that's trying to rectify the calamitous mess that
they found themselves in in the last two and a
half years. Fourteen past the.

Speaker 1 (37:13):
Mike Asking Breakfast Full Show podcast on iHeartRadio powered by
News Talks at be.

Speaker 2 (37:19):
News Talks the Big Grant Dalton out of Sardinia at
the Prelium start this weekend in the America's Cup sixteen
past seven from the old Major Events file. Now we
talked you about trends and tourism yesterday. Today it's the
Oceania Olympic Committee's General Assembly which is being held in Auckland.
At the moment they're talking LA twenty eight Prisbon thirty
two Glasgow this year. Of course, Katie Sadley is the
boss of the Commonwealth Sport Department there and she's with

(37:41):
us morning Morning Tea you two. So when we talk
about Oceania one of five regions, do you all roughly
in your meetings talk about the same thing.

Speaker 8 (37:50):
Yes.

Speaker 20 (37:52):
Well, first of all, I mean I'm here representing us
the commorce Games movement and we're really fortunate that the
IOC taste for this event. But because our members are
are so similar, particularly in Oceania, we actually run our
own day which has specifically looked at cokomoff Games issues.
But yeah, I mean we have regional meetings just like
the ioc dos, and the topics are very similar.

Speaker 2 (38:13):
And these topics are these very specific driven topics as
we head towards you know, like la in twenty eight
and Brisbane and thirty two. Or is this sort of
a hype fast and a get together and a sharing
of ideas, ideals and all that sort of stuff with
a few drinks at the end of the day.

Speaker 20 (38:27):
Well, ours is a little bit more focused because in
sixty four days the Coomwolf Games starts in Glasgow, so
it's very much about you know, helping people with the
last minute thinking through their team preparations. We've had the
chief executive of the Glasgow Games down here meeting with
the members just in making sure.

Speaker 3 (38:44):
That everything's okay, you know.

Speaker 20 (38:47):
So that's it isn't about the long term it really
right now for the Comonworf Games movement is about the
short term making sure that people maximize the opportunity that
is presented by Glasgow, Are they I think so? Yeah,
everyone's very buoyant about the opportunity. I mean, we've had
some hardships over the last four years, but we're really
coming out of that with the announcement of Amdavad for

(39:09):
twenty thirty and we've got a multi uth Games next year,
so people are very much on board. I know the
athletes are getting very excited about Glasgow.

Speaker 2 (39:15):
So what was the problem with the Commonwealth Games in
terms of location and what's changed materially to as you say,
come out of it?

Speaker 22 (39:24):
Well, I mean we.

Speaker 20 (39:25):
Launched a new ten year vision which with the aim
of uniting the comm wall through sport I mean two
point seven billion people, third of the world's population in
twenty twenty three, just after the Burning Games, and then
unfortunately the following month's Victoria pulled out of the common
World Games, who are supposed to be hosting the Games
in twenty twenty six. So that created a really interesting

(39:47):
period of time in terms of quickly regrouping as the
members to say, well, what are we going to do
about twenty six. But I guess the key thing for
us was that in the new strategy, which was a
ten year strategy looking at how do we reimagine the
games for the future, we were always going to have
a look at how does the KOONWAF Games repurpose itself
with the view too wanting to take the games around

(40:09):
the seventy four members of the Common Wolf and you know,
up until now it had been bouncing back and forth
between Australia and the UK and a couple of other countries.
But we wanted to reset the games and so that
was a huge piece of work that was done and
it's really proven that that resonated really well with House.
So we went through a bidding process for the twenty
thirty Games and had seven of our members put up

(40:32):
their hands with an expression of interest for twenty thirty
and twenty thirty four and and in the end, you know,
we were fortunate that at the General Assembly in November
last year we announced AMNIVAD so India one of our
largest members, but we had it was up against Nigeria,
so the second largest member. So it's it's really proving
that the komwof Games definitely is something that our members

(40:55):
are really keen and the countries that are part of
the Komonwolf are key to host.

Speaker 2 (40:58):
Well, that's good to hear. You go well with the
man today, Katie Sadley, who's the CEO of the Commonwealth
of Sports being the sport as I say, Grant Dalton
a couple of moments away. But let me get to
this future fun debarkle in just a couple of moments.

Speaker 1 (41:08):
Seven The Mike Asking Breakfast Full Show podcast on Payheart
Radio Power by News Talk SEB.

Speaker 2 (41:19):
She's all got at the Chemist Warehouse at the moment
that Mayhem megasale is on. Now we've got massive savings
all over the place. Perfect up to stock up and
save on the brands you love. So Sanderson, Yes, Neutral Life, Yes,
the vitamin's up to half price. Your favorites, Ethical Nutrients
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(41:40):
the Bondai Protein Company, Mustache, Optima Nutrition all up to
half price. A skincare Yes Me Today, Oleay Sadoby all
up to half price Chemist Warehouse, and they're off the
already low Chemist Warehouse prices by the way, so up
to half price off those prices now. The perfect time
is to stock up is now. With the Mayhem sale,
you can save on all the items sports nutrition, skincare essentials.

(42:02):
You shop and store, you do it online, You click
and collect fast delivery get the essentials dropped straight to
the door. Teas and sees supply. But this all ends
June three, because they're not crazy, so it's got to
end June three. So you head in store or online
to chemist warehouse and stop paying too much. Ask now
sevent twenty four. Let me get this right, just so
we all know where we're at. The Labor Party, who

(42:24):
I'm assuming still want to be taken seriously this election
have had a major issue up to this point, the
issue being they have no policies. The one policy they
do have is a new tax, and the money from
that new tax will pay for us all to go
to the doctor three times, even though a lot of us,
and to be thanked, probably most of us don't actually
need the state to pay for a doctor's visit. Their
other policy we sort of knew about was this Future Fund,

(42:45):
and it would contain the soees whose dividends would go
into creating jobs and growing the economy. So update now
on the Future Fund. We aren't going to know about
that until after the election. Good news is, of course,
they're not actually winning the election, so it sort of
does matter, but they will make it even harder. I
would have thought to crack a winning chance at the
election now given the voters sort of want to know

(43:08):
what stuff costs, especially large stuff. Further trouble is that
the hold up is they need advice. Apparently we were
informed of this yesterday. They need advice on the treaty obligations.
That's right, bog down yet again, and matters maori. Originally
they told us the sees involved were commercially sensitive. Now
it's treaty troubles. Previously, Chris Hipkins said the fund would

(43:29):
create jobs. Yesterday Barbara Edmonds didn't know how many jobs,
because that would depend on what the fund invested in
and what sees were in the fund and what advice
they got around the treaty obligation. So no job stats,
no cost stats, no real detail on who's then who
isn't on one of what they call their cornerstone policies.
So no policies until there is a policy, but sort

(43:49):
of a secret policy that if you vote for us,
we'll tell you about it after the election. Small question
at this point do they honestly believe one where that's stupid,
Two that this is any sort of way to conduct
an election campaign, or three this is any sort of excuse.
There's close to an election. Actually four are they smarter
than we think and this is basically their white flag

(44:11):
because they don't actually want to win the government anyway.
Part of what haunts them, of course, from last time
is their inability to actually do anything apart from spray money.
They talk, they don't do, so three years on they've
clearly learned nothing. Ask like I argue, this is political
the jobs that National is doing, some of the things
that their voters want them to do. The lefty voters

(44:32):
won't like it, but that doesn't matter, Mike. It's totally
disingenuous reasoning from Lekeola to suggest the public service numbers
could be benchmarked against one percent of the population. The
efficiency is available from AI should reduce that number well
below that. While David Seymour's cheering you on on that, Mike,
brilliant job of the public service restructure, less red tape,
less hoop jumping. It's about time they got into the
real world, Mike. Good story from the Outstanding Food Producer

(44:55):
Awards last night. Supreme Award winners chosen by Peter Gordon,
who we love. Young couple The wire Wrapper, just a
few months ago started making pasta from locally grown grain
montyansns dot co dot Insight. While I'm glad they won,
I know somebody else who was in that last night.
I don't know how they did, but there's a tremendous
number of really mum and dad basically people mainly in

(45:16):
provincial New Zealand doing incredible things, from everything from craft
to be at a nuts to spreads to jams to
pasta to everything. The number of creative people out there
running their own lives, running their own business and taking
big risks is to be admired. So I hope that
was a fantastic night for you. This weekend in Sardinia
we begin the America's Cup campaign. Grant Dalton next.

Speaker 1 (45:38):
Top on Power Sharp on Inside on My Costing, Breakfast
with the Defender, embraced the impossible news talks he'd be
twenty four.

Speaker 2 (45:46):
Minutes away from a politics Wednesday, of course, Arthur right
with Mark and Jenny. America's Cup is back. This weekend
the preliminary regatta gets underway in Sardinia, heading towards Naples
of next year. Of course, we're in the AC forties
team of four, two helms to trimmers up to eight
fleet races before a final. We actually have two teams
along with the Brits and the French, the Italians, the Swiss,
the Australians, the Americans. So let's break it all down.

(46:07):
Grant Dalton's back with us from so did morning morning
to you?

Speaker 23 (46:11):
Mike?

Speaker 2 (46:11):
Is this shaping up?

Speaker 3 (46:12):
Well?

Speaker 17 (46:13):
Yeah, it is really from the forming of this thing
called America's Cup partnership that we spent last year doing.
We're now up to seven teams, which is the most
number of teams in twenty years. So America's Cup's very
healthy at the moment.

Speaker 2 (46:27):
Okay, the Australia taip that hasn't got a lot of
coverage here, the Australian entry, is that a big deal?
Do they know what they're doing? Are they quality?

Speaker 17 (46:35):
Yeah? They are quality because there's a lot of Australians
that have been in teams over the years and now
they're forming back to the Motherland. I actually questioned the
amount of pr that it had and talking to them,
they said that in Australia it had more coverage than
the announcement of the thirty two Olympics in Brisbane, which
is pretty phenomenal, and they had the America's Cup there,

(46:57):
we said it over and the last time they cup
was there was when it was taken away basically by
Dennis Connor in nineteen eighty seven. And they are a
quality team with guys like Spiddal and Slimsby and Glenn Ashby,
and with the boat that we hopefully are building for them,
well we are building, hopefully, we're building them a fast boat.

(47:18):
I expect them to be very good.

Speaker 2 (47:20):
What about the other teams?

Speaker 4 (47:21):
What do you know or what do we know?

Speaker 2 (47:23):
The quality and the competition that's coming our way.

Speaker 17 (47:26):
Well, obviously Luna ross is always high quality and they're
learning the ropes campaign by campaign, so I think they're
going to be a real force to be reckoned with
this time. They always are, but each time they seem
to get a little bit better.

Speaker 3 (47:41):
It's hard to tell.

Speaker 17 (47:42):
With the other teams, they're quite late, the English probably
pretty good. The French with our identical boat to us,
didn't have enough time last time, but they've certainly rectified
that this time. It's always difficult to tell at this point,
but I think when you look for that, probably Luna
Rossa has got the most mileage in the water.

Speaker 3 (48:05):
At the moment.

Speaker 17 (48:06):
And plenty of talent.

Speaker 2 (48:08):
The level of interest on the prelims versus the Cup
itself next year, how do you engauge that?

Speaker 17 (48:13):
Well, you first you had to sort of say, what's
the level of interest in the America's Cup in Italy
and it's massive, something like fifty percent.

Speaker 3 (48:23):
Of all perversa, all media.

Speaker 17 (48:24):
And the last America's Cup was consumed in Italy and
they had Luna Rossa made the finals against us, that
would even have been higher for anything. America's Cup in
this country has big thirteen times thirteen times they've tried
to win the America's Cup, so it's really sort of
ingrained in them the sport now. So the preliminary regattas
were the first one we have this weekend in Sardinia

(48:47):
will never be as big as the Cup itself, but
through the funding of the government for this regatta and
then a later regatta this year and then of course
America's Cup next year, I think we're going to see.
But I know that in Naples and when we raced
here at twenty eleven there were half a million people
on the waterfront. So you can't underestimate a level of

(49:10):
interest for the America's Cup in Italy, it's Leona Ross's
in the final against us, then the thing's going to explode.

Speaker 2 (49:17):
Our two teams for these prelms. Does that show depth?
Is that like a red bull racing bulls type scenario
you've got going there?

Speaker 17 (49:25):
Yeah, that's exactly what you've got. But look, we're just
yesterday the fantastic result of seb Menzi's and George Lee
Rush winning the forty niner Worlds, which is almost like
a right of passage into a team New Zealand. We
were doing some numbers this morning of the number of
World forty nine championships we have in the team. Nathan's

(49:49):
won four, in Jenson's won four. I think we had
like twelve world championships are now said the youngest world
champion and the forty nine ers who drives poor side.
So and you've got the youth and women's team as well. Yes,
it really is a racing bulls type environment and a feeder.

(50:10):
These young guys are fast day. It's impressive. You're really impressive,
and there's a whole new enthusiasm that's generated within the
team from these well they're not kids, but they're almost kids.
And I can't speak enough of their their attitude and
the way they go about their professionalism.

Speaker 2 (50:30):
Is that like once again the IF one thing where
you see the Antonelli's they have no fear. It's something
about age and age and stage.

Speaker 17 (50:39):
Yeah. Yeah, they just don't care really, you know, buying
twenty five knots and they just send it. But they're
also because they grow up basically in a simulator, and
Antonelli is a good example they I mean, he can't
have done that much racing. He's only eighteen years old,
so he spent his life in a simulator. And our kids,
effectively one twenty two are spending their whole time on

(51:03):
the simulator, and like an F one simulator, there is
a very real feel that it creates. The only difference
between the simulator and the real world is just don't
get wet. But they can take that straight away onto
the water.

Speaker 2 (51:17):
The simulators are i mean partially at it, but they
are real. So in other words, you can get the
it's you get the movement that vibe the whole thing.
Or is it just like a computer screen.

Speaker 17 (51:28):
No, no, it's a full motion. Our full simulators motion Master.
So when they sit in the cockpits, which are identical
to their cockpits. They're in the in the world, and
the oculus goggles give them the full depth of perception
of everything around them when they turn their heads or whatever.
So they say, they just don't get wet. And if

(51:48):
the simulator is working correctly, as again with an F one,
you can test, so you can change a foil, run
run around the course again on the simulator and it
will give you an answer. So, yeah, have to have
We started this whole simulated game in CupWorld and back
in twenty fifteen when we didn't have enough money to
build a boat, and then in twenty seventeen we won.

(52:10):
But now they're completely real to the real world and
all teams have them.

Speaker 2 (52:14):
Is this, once again, without extrapolating the if one analogy
too far? Is this part of the blue Atoot move
as well? Is that you know, you build management and
skills and stuff like that.

Speaker 17 (52:24):
Yeah, and you know, and Tookey was ready to make
the move into into I'm going to call it mentorship mentoring,
and it is a little bit mentoring. He's very took,
he's really good and just pushes, he pushes, you know,
pushes the design team. Now, one of the things that
the younger guys still haven't, you know, kind of got
to grips with is this ability or how far they

(52:47):
can go to push a design team. And so someone
like Blair, I mean he doesn't care in that respect.
They know him, he knows them and so he will push.
So we do need you know, we still need the
gray hair and I mean Tuki's mid thirties now to
keep that push on. So it's not just about raw talent.
You've got to have that engineering school to push the

(53:08):
design team as well.

Speaker 2 (53:09):
Having said that, how maxed out are the so you're
racing in ac forties in this preliminary part of it,
how maxed out are they or or you are forever
looking for something new?

Speaker 17 (53:19):
No, well, they're all one design, so that all teams
have exactly the same boat. I'm trying to sort of
put them perspective. How I think we'll go in the weekend,
and I a top three would be I think a
good result. Of course, you want to want it, and
we'll try to. But we've been starting the seventy five,
the big boat, the boat that will race in the
Cup next year, and we haven't really been doing that

(53:41):
much work in the forties, whereas these other teams haven't
been starting the seventy five, they've only been in their
ac forties. So sort of going to get a bit
of expectation into it, because in the end, it's about
the America's Cup next year.

Speaker 2 (53:54):
How is the seventy five?

Speaker 3 (53:55):
Does is that being?

Speaker 2 (53:57):
What are you doing with that?

Speaker 17 (53:58):
But it's still at home and we'll be back to it,
you know, in a few weeks time. It's just under
constant development. I mean, they never sit still. It We've
got about I'm going to say, forty guys and girls
up here, but at home there's another fifty working on
the seventy five, so that as soon as we get back,
the guys get back on that and they're back into testing,

(54:20):
so it never stops the seventy five, just like you
know what, they had the gap in the formula one
time when they couldn't race in the Middle East, and
suddenly McLaren jumps, and that's it's just like that. I
know the analogy, and I know I know you love
IF one and so do I, but there is so
much closer to analogies now than they ever used to be.

Speaker 2 (54:42):
The information then, so with your sevent teams and your
double teams and your development and and all that sort
of stuff. But it feels I get the sense that
the America's Cup is in good health. Is that fair
or not?

Speaker 17 (54:54):
No, it's completely fair. If you'd asked me that question
a year ago, well it probably did. It wasn't healthy.

Speaker 3 (55:01):
And in some ways in this I.

Speaker 17 (55:03):
Know, I don't mean this to sound arrogant. We were
becoming a bit of our own success, was becoming a
bit of our own problem because the villionaires, we're getting
a little bit tired of blowing one hundred and fifty
million euros try and beat us and then getting beaten,
and so we had to do something. The America's Cup
the last sport in the world that hasn't been franchised,

(55:25):
and NBA is the best example. So what you have
now is not like STYLEGP where the league still owns everything.
In this partnership agreement, the teams own it. So as
the value of the property grows, so the value in
the team's grow exactly like an NBA. And in fact
it's the NBA that we used as the model.

Speaker 2 (55:46):
Interesting, all right, mate, listen, good to catch up with you.
Go well this week in Grant Dalton Team New Zealand
head thirteen to two.

Speaker 1 (55:52):
The Mike Asking Breakfast, a full show podcast on iHeartRadio
powered by News Talks.

Speaker 2 (55:58):
At be Mike great with Grant. Well done, Thank you Warwick.
Great interviewing, So interesting, Mike. I hope it'llly make a
shed load of money out of the America's coup next year,
as New Zealand doesn't need it right now. Very funny, David,
what a confidence man. Thank goodness our government is stupid
enough to give him any money. It's still a bit
of the old anti Grant around the place, isn't there.

Speaker 3 (56:14):
Mike.

Speaker 2 (56:15):
I'm with you regarding the public sector clear out. The
good ones will find a job. The ones that got
seventy grand a year to show up neat their lunch
might struggle. It's an interesting thing. Standard chartered at the
latest internationally this morning to announce layoffs because of AI
fifteen percent around seventy eight hundred people by twenty thirty.
They're telling us back off as stuff into your China, Malaysia, Poland,

(56:36):
they're heading towards automation, leaning into AI. Singapore is because
I think DBS the other day they're going to cut
four thousand met has already come to the party ten
percent of their workplace eight thousand, Amazon thirty thousand workers,
Oracle ten thousand workers. So there's hundreds of thousands of
people all over the world allegedly who are going to
lose their job as a result of AI. I've got
a poll that I'll give you later, Rod tomorrow, but

(56:59):
where Streeting doesn't stand a hope in hell of becoming
the nominee to Chase Starmer. But the numbers are interesting.
It needs Burnham to win the by election, and that's
the interesting thing that I'll come back to the numbers.
Then we come to a New Zealand funny old story.
Yesterday I read in the Herald about what he in
New Zealand is announcing today. Now I know what he
in New Zealand is announcing today. So let me work

(57:20):
you through some of it. In a moment nine to eight.

Speaker 1 (57:23):
The Mike Hosking Breakfast with Bailey's Real Estate News Dogs.

Speaker 2 (57:26):
They'd be to you go poll Streeting six and ten.
These are just labor voters, by the way, so six
and ten said it was a mistake for him to quit.
They wouldn't back them. Seven and ten they'd go for.
If it was head to head Streeting v. KEA, seven
and ten would vote for Kea. Only fifteen percent would
support Streeting, so Streeting is not particularly popular. Andy Burnham,
Angela Rainer, Ed Miliband they'd take any one of those

(57:48):
above him head to head Burnham v.

Speaker 3 (57:50):
St.

Speaker 2 (57:51):
Starmer forty seven to thirty one. So Burnham's gonna win,
but he needs to win that by election. Is the
interesting point. Three quarters of Labor members had a favorable
view of Burnham, eighty percent of rain A, seventy seven
percent of Miller Band, seventy three percent of a Vet Cooper.
Two thirds of party members believe Star has done a
good job. Two thirds of party members believe Star has

(58:12):
done a good job. So there'll be a lot of
Bankston the Labor Party in Britain game will the guys
fine lead them alone? In New Zealand. It's just interesting.
And I don't mean to disrespect the bloke John Weeks
who wrote this article yesterday in the Herald, but I
happen to know what in New Zealand are announcing. I
believe the announcements coming at nine fifteen this morning, and
I'm not going to tell you exactly now, other than
to say John wrote a piece speculating, and he speculated

(58:36):
on a number of things. He understands that the return
to Chicago or London is unlikely, he suggested, then Manilla
could be. So if you didn't name in. New Zealand's
making an announcement today, They're going to be announcing some
new routes. It's a good announcement. It's good for the airline.
It's good for us, it's good for travel, it's good
for everything. It's good for New Zealand. When in New
Zealand does well, we all do well. Sort of Black Auckland, Manilla,

(59:00):
he says. Then if he doesn't like Manila, he says Bangkok.
Then he says Delhi, then he says Soul. Then he
says the United States. So he's looking at another one
in the United States. I can tell you he is wrong.
So he's gone one, two, three, four, five, five destinations.

Speaker 4 (59:24):
They're wrong.

Speaker 2 (59:25):
There's a part of what he suggests, read the article.
Read the article, and there's a part of the article
where he's running pretty he's running, he's there, he's there
or thereabouts. He's there or thereabouts. And when the announcement
is made today, you'll see what I mean by that,
But I think the announcement's going to be one a
bit of a surprise in terms of you'll probably go, ah,

(59:48):
I wonder why they did that, and there'll be a reason,
And there'll be one aspect of the announcement today where
you'll go, what, why on earth would they do that?
And then there'll be the explanation for that and you'll go, geez,
I didn't know that you're following any of this anyway.
News in a couple of moments and then Politics Wednesday,
Junie Anderson, Mark Mitchell at Moments Away.

Speaker 1 (01:00:08):
He reviews Talks, EDB, Opinionated, Informed, Unapologetic, the Mic, Asking,
Breakfast with Bailey's real Estate, Key We Owned and Operated US, Talks,
d B.

Speaker 19 (01:00:24):
BET, SUPERB, more, be.

Speaker 1 (01:00:32):
Can Margin the Conditions.

Speaker 2 (01:00:36):
Angelique has been doing apparently a spate of tribute albums
and eclectic detours, but she's focused in mind. She's co
produced on this one, but Pharrell and this is Angela
Kid Joe, and she's got a whole lot of coach.
She got the Sweta Gospel Choir in there somewhere, and
of the sixteen tracks which is always a welcome edition.

(01:00:58):
Sixteen to good number only four, lack of credited featured artist,
so she's doing some collabs there. So Angelie Kid Joe
Hope with two exclamation marks is the name.

Speaker 1 (01:01:12):
Of the album.

Speaker 2 (01:01:14):
Sixteen tracks. As I said in fifty three minutes, since
ring seconds worth of Angelique kid Joe music.

Speaker 4 (01:01:21):
Never heard of?

Speaker 2 (01:01:22):
Does that make me out of touch?

Speaker 12 (01:01:24):
Or what?

Speaker 3 (01:01:26):
You know?

Speaker 2 (01:01:27):
No score of the old Mark will have heard of her?
Mark Morning, Morning, Morning, Mike. You heard of Angeliue kid Joe?

Speaker 4 (01:01:37):
No?

Speaker 2 (01:01:38):
No, unfortunately, well not unfortunately, you don't don't need it.
It was Amy Ginny. Have you heard of Angelie kid Joe?

Speaker 23 (01:01:45):
No, I have not heard of her.

Speaker 2 (01:01:47):
Not big in the hut Villy.

Speaker 23 (01:01:49):
But you're you're quite good at saying that. Can I
say that's quite a good French?

Speaker 3 (01:01:53):
I don't. I don't know many of the artists at
Glen pitched it. If I'm really honest with.

Speaker 2 (01:01:58):
You, now me neither actually Mark, As it turns out,
I don't know where it is. I think I just
wonder if he wanders downstairs to the music stations and
goes to the reject bins and pulls a few old
records out, I know what's going on?

Speaker 23 (01:02:19):
You like kickbacks? If you sort of plugging someone who's
never been here before, do you get like, oh you
get a free CD or something fun?

Speaker 4 (01:02:25):
It's funy.

Speaker 2 (01:02:25):
You should ask that, Ginny. I haven't. I haven't gone
down that nefarious track myself, but there's probably there's probably
a whole bunch of dodgy stuff going on downstairs at
music stations as far as I can work in now
with this future fund, Ginny, what's gone wrong here? What
what's with the big secret squirrel? Until after the election,
with your treaty problems and stuff, why couldn't you get
this sorted out before election day?

Speaker 23 (01:02:47):
I think we've been clear from the start that we
would not give all the which ones would because we
needed that advice of being in government. That was pretty clear.
And so those market sensitivities include whether or not this
covenant on it, because in my day we entreaty settlements.
I think it's Section twenty seven. You have the ability
to put a covenant over a property if it's a

(01:03:09):
state owned asset, and so having access to that information
from cruisery is important to be able to make well
informed decisions before we put things into a future.

Speaker 2 (01:03:19):
Can you explain it to people who haven't followed this, Well,
so what's the department that would generate income for you?
Like would the Investment in New Zealand Investment Fund? Could
that be part of the future Fund or is that
completely separate?

Speaker 23 (01:03:31):
So any states owned assets that returns to government is
potentially able to be put in And let's.

Speaker 2 (01:03:36):
Make a simple one. So TV and Z could potentially
pay your dividend that could be in the Future Fund.

Speaker 23 (01:03:40):
You potentially potentially anythink that is a state owned asset
that's administered under that act and that pays a dividend
to government, and you need to take advice as to
what can come in or not because there will be implications.

Speaker 2 (01:03:52):
Pretty link at TV and ZB potentially that would prevent
you from putting them in that fund. I mean, what
what is it that's been committed to that would stop
that happening.

Speaker 23 (01:04:03):
Probably not TV in ZEED unless they own property. So
in my time working as a negotiator for the Office
of Treaty Settlements, one of the abilities of that EE
can do is I think it's pretty sure it's Section
twenty seven that you can place a covenant over a
state owned asset, and so that's unable to be sold
or anything you know, transferred until you're engaged with that

(01:04:26):
EB and that would prevent And so I think you
need some Treasury advice on first of all, does it
have a covenant on it or not? And also what
happens if you lift that or go around that. So
in order to not make decisions that further expose our
country to risk, we want to be able to do
all of that homework to make sure it's in place.

Speaker 3 (01:04:43):
So GUSHA remind this should remind people how bad labor.
This is their corner stone.

Speaker 23 (01:04:50):
Really, that's a surprise that you said that.

Speaker 3 (01:04:52):
Well, heng On Jinny, you.

Speaker 24 (01:04:57):
Can't say who's going into it, you can't say how
many dividends you to guess, and you can't say how
are you going to replace those dividends to fund health,
education and police.

Speaker 3 (01:05:06):
It is ridiculous.

Speaker 24 (01:05:07):
It is a complete you're saying, then you and you're
telling people that you're not going to tell them to
ask the election.

Speaker 3 (01:05:13):
It is a It is comical.

Speaker 23 (01:05:16):
It is what markets those some of those companies, and
I mean some of those companies we see even in
those factory closures, whether or we see big New Zealand,
companies that are earning a good capital for people that
are earning paying good wages, whether they're sy steamer, whether
they're picks peanut butter. We've seen forty two detail company

(01:05:41):
and you can't do go off shore and take what's
some care we jobs and we want to keep them.

Speaker 2 (01:05:45):
Here we can, So the Future Fund would buy I
wouldn't buy.

Speaker 23 (01:05:49):
Them, but it would provide deeper capital markets here in
New Zealand, and that's been one of the big problems
with our economy over time.

Speaker 3 (01:05:56):
How can you say that, explain your policy?

Speaker 24 (01:06:00):
You know the capital markets like detail, don't you You
know that they like to have detail. Where's the detail,
Jenny no I say.

Speaker 23 (01:06:07):
All I said was we need deeper capital here in
New Zealand. It's the same year.

Speaker 2 (01:06:10):
Future Funder is it to grow to the future. We
don't know what we're batter now, but surely as a
politician you can understand if you don't know what you're
voting for, why would I vote for it?

Speaker 23 (01:06:19):
Well, I'm unlike National We're actually going to do the
work instead of cut for tobacco company now where they
can't pay for the series and they can't pay for
things because they didn't do the homework. We're not going
to fall into those famous seats.

Speaker 2 (01:06:34):
We won't make.

Speaker 3 (01:06:35):
Fies out billions of dollars.

Speaker 2 (01:06:37):
Listen, just hold on, we'll come back in a couple
of moments. Well, I don't know whether we're getting anywhere
with a future fund here, but I do want to
talk about the energy meetings, and I might even try
and talk about the BNZ thirteen past.

Speaker 1 (01:06:48):
Eight, The Mike Husking Breakfast Full Show podcast on iHeart
Radio powered by News.

Speaker 2 (01:06:54):
Talks It Be Politics, Wednesday, sixteen past eight. I think
Jenny David makes a good point in the tea ewe
ability to covenant is limited. I think it's first writer
refusal and from memory, I think that's right, isn't it?
So you're going to sell something? They go, yeah, we
either wanted or don't. Isn't that right?

Speaker 23 (01:07:10):
That's right?

Speaker 2 (01:07:10):
Yeah, Well, what are you worried about them? Why don't
you get on with your policy?

Speaker 23 (01:07:16):
Given covenant on it?

Speaker 22 (01:07:18):
What's your what's your so?

Speaker 23 (01:07:19):
And it's funny though I went on the National Pace
of Day, no policies on there either something no one's
talking about.

Speaker 24 (01:07:24):
Nola it out, don't worry we've we've rolled out heats
of policies.

Speaker 3 (01:07:29):
You've just you've just a post.

Speaker 23 (01:07:33):
You've done. There's no election policy.

Speaker 17 (01:07:35):
Mark not won.

Speaker 24 (01:07:37):
In all fairness, I'm sure that Chippy's sleepping peanut butter
on his toast, on his beautiful toaster.

Speaker 3 (01:07:41):
Up what.

Speaker 23 (01:07:45):
You're going to say? Where's he going to slap peanut butter?

Speaker 3 (01:07:47):
Mark?

Speaker 17 (01:07:49):
Are you?

Speaker 2 (01:07:50):
I don't want you to make policy on the hoof here, Genny,
God forbid? But is the one percent of public service
so one percent of the popular? Would you reverse that
or not?

Speaker 23 (01:08:04):
I'm not committing to reversing it, but we deeply consumed
about those jobs everyone. I'm not going to say that
now because I'm not the Minister of Finance and I
haven't got the budget in front of me yet, so
I can't make that commitment. But it is important to
note that people should of sometimes think that these are
Wellington bureaucrats sitting at a disk. These are customs workers,

(01:08:26):
these are health workers. These are people on the frontline
of New Zealand.

Speaker 1 (01:08:31):
People will lose their jobs.

Speaker 23 (01:08:33):
No, they am, They cannot. We've looked at those numbers.
We think frontline will go on those numbers to.

Speaker 2 (01:08:40):
Even though they said they weren't going to go. You can't.
You can't go last time they.

Speaker 24 (01:08:44):
Said that last time, last time, last time we're in government,
we were we had a very good record of making
sure that all of our focus in support when the
frontline services delivered to Key is. Yes, we have got
absolutely outstanding public servants. On one myself, but the reality
of it is this, Jenny, previous guilt. Under the previous government,

(01:09:06):
you added sixteen thousand public servants and guess what happened?
Hospital waiting time, sword, student achievement plummeted, thirty percent, increase
in violent crime.

Speaker 3 (01:09:15):
So numbers do not equate to better.

Speaker 2 (01:09:18):
Public services for the public focused on doing Can I
ask this the meeting that was held in Queenstown a
couple of days ago. So you don't have any policies, Jenny,
And this is your problem at the moment. It's getting
worse by the weak. As far as I can work out,
its closer we get to the election. So Megan's at
the meeting and she goes. The first thing she says
is I'm not here to announce a policy. So what's

(01:09:39):
the point of having meetings and having discussions if your
only contribution or the labor pays only contribution to something?
Is we haven't announced or I'm not going to announce
a policy because increasingly we want to kind of know
what's going on.

Speaker 23 (01:09:51):
Well, I think King, we need to know whether LNG
is going to be a feature or not. Because the
government did announce it, they've then they've backed away and
so that happening or not.

Speaker 2 (01:10:02):
You're not saying anything. All you're telling me is the
stuff you won't do. We know what you're not going
to do. When do we get to know what you
are going to do? So when I go to an
energy meeting and I go, what's your energy policy? Megan
doesn't go, well, I'm not going to announce that today,
otherwise I wasted my time.

Speaker 23 (01:10:17):
All we've said right early on that we want the
budget in place, to know what the books are before
we'll commit to large scale policy. And that's important to
do that so that we don't make promises we can't
keep and like what national have done, so I want
to make sure what funded actually can here so.

Speaker 2 (01:10:31):
The week after the budget we will be getting policy.
Is that fair or no?

Speaker 23 (01:10:36):
I can't say that. I'm not the energy spokes Pusan.
But I know they're working on all those areas now
and once we have the books and we've done the analysis,
where will have the ability to make policies. But I've
got one more weeks. I would like what more points
on the public servants. It's important. I'd like to make
those shout outs. I'd like one shout out and never
do them. I would like to do a shout out
to Geryl from High five Maintenance and Newlands find High

(01:11:00):
five Maintenance. They do all your handy helping outwork, lawns,
you name it, rental properties.

Speaker 22 (01:11:07):
He is succeed He has his.

Speaker 23 (01:11:09):
Weekly petrol bell, went from a monthly petrol bill, went
from seven hundred to fourteen hundred and he's had to
let a couple of his guys go because of that.
But what's made it worse is because of the job
cuts in Wellington. People were getting their lawns cut maybe
once a week. They've changed that to once a month
or not at all, and they're delaying maintenance on their
house because they can't afford it because someone's lost their job.

(01:11:32):
And he's a great example of when there are job cuts,
whether they're the public service or wider ones. They impact
the local economy and we have felt that to the
bone and willing.

Speaker 24 (01:11:41):
Yon because most because most ques understand that we're all
in it together and we're got our shoulders to the wheel,
that we're facing global headwinds and we're all doing all
that we can to get our country through this and
back into some strong positive growth again their growth down.

Speaker 23 (01:11:57):
Yeah, quick question our not buying that one?

Speaker 2 (01:12:00):
Don Quick question to end this is the B and
Z idea from Winston Peters, the stupidest policy in the
history of stupid policies and election campaigns. Mark your answer.

Speaker 3 (01:12:16):
It might have been a New Zealand first speak to.

Speaker 4 (01:12:20):
You.

Speaker 2 (01:12:23):
Do you think anyone's going to buy the B and Z?

Speaker 19 (01:12:26):
Yeah?

Speaker 23 (01:12:27):
How are they going to go?

Speaker 24 (01:12:31):
So we're we're completely focused on kee We Bank, making
sure that Keey Banks is competitive as it can be
and it takes on the big bossie banks.

Speaker 2 (01:12:41):
What about you? Do you think that's a stupid idea
or would you put the B in Z in your
future fund once you've discussed future fund?

Speaker 23 (01:12:53):
Well, if you don't sell it, it could be, but
who knows.

Speaker 3 (01:12:57):
There we go.

Speaker 23 (01:12:57):
We got thought, I thought you're going to tell us
it was qbaks on the future fun.

Speaker 3 (01:13:03):
Oh it's got one of them.

Speaker 23 (01:13:05):
I didn't say that. I do think though, that out
of all of the ideas Winston's head, I wouldn't give
this one number one.

Speaker 2 (01:13:15):
Yeah, okay, fair enough. Nice to see it both, Ginny Anderson,
Mark mitchell A twenty two, The.

Speaker 1 (01:13:20):
Mic Hosking Breakfast with Vida Retirement, Communities News, togstad b.

Speaker 2 (01:13:25):
Right o que drivers, here's something worth trying. Next time
the old fuel light's for flashing. You skip the usual serbo,
you pull into your nearest white Tomo fuel stock, and
what will happen is you will notice the difference fairly quickly.
There's no queue a mile long like the supermarket. You'll
just tap the old white termo app or pay at
the pump, and then you're back on the road with
more cash left in your back pocket.

Speaker 3 (01:13:46):
How good is this?

Speaker 2 (01:13:46):
Why time We've been backing every day Kiwis for nearly
eighty years now, because the same Kiwi family, three generations
now still one hundred percent locally owned and proud of
it as they should be. They've always done things a
little bit differently, pushing hard for fair fuel prices and
keeping costs down where it really counts now, whether you're
topping up the yut or sorting that bulk fuel for
the business or indeed getting that diesel delivered to the

(01:14:07):
old work site. Why Tomo have always will always make
it easy. So next time you're running on fumes, give
my Tomo a crack good honest fuel priced fair for
hard working Kiwis. You can't beat white termo asking tell
you what's interesting in Australia and we'll talk to Steve
about it. Shortly is it's been well in excess of

(01:14:27):
a week now. See what normally happens with the budget
is you get budget Day, you get the next day
where they come out and sprook it and talk all
about it. We're going to be going through this in
a very short period of time, of course, and then
about the next day after that you might have something.
But within two days it's gone and so it like
then moves on well in excess of a week later,
Australia is still fixated with what has happened in the budget.

(01:14:52):
And more than that, the pushback has been so strong
around the tax treatment, the CGT and what they're now
calling the death taxes that the government starting to worry
and it is the worst in terms of polling. It
is the worse marked budget in years. More from Steve
Price in Australia after the News, which is next? He
refused talk zedby.

Speaker 1 (01:15:13):
You're Trusted Home for News, Sport, Entertainment, Opinion and Mike
the Mike asking Breakfast with a Vida, Retirement, Communities, Life
Your Way, News Talks head been.

Speaker 2 (01:15:25):
Mike will Air New Zealand's announcement be particularly positive for
the South Island. Good question. I'm prevented from answering it,
but it's a very good question. My problem with Labour
not having policies is it's par for the course. They
had none after six years in opposition, when it was
actually nine during the key years. It does seem read

(01:15:46):
if you can be bothered looking up. I mentioned it
the other day. There's an article it was on the Spinoff.
It was some bloke who ended up at the wire
Wrapper book Festival for reasons best known to himself, and
Trevor Mallard was there. But Mallard was giving a speech
and he said basically what we all know but no
one really says out loud, and that was that they
spent ninety years doing nothing. They talked to nobody, they

(01:16:07):
formulated nothing, they planned nothing, and by the time they
accidentally got to government through the largess of Winston Peters,
they didn't know what the hell they were doing. And
it seems remarkable that they're repeating the same mistake again.
And yet here we are twenty.

Speaker 15 (01:16:20):
Two to night International Correspondence with ends in eye insurance,
peace of mind for New Zealand business.

Speaker 2 (01:16:26):
See prices in Australia. Very good morning to you.

Speaker 25 (01:16:29):
That sounds a lot like the Coalition in Australia to
just describe similar problems.

Speaker 2 (01:16:34):
I was saying on air just before the news at
eight thirty that I've been watching a lot of Sky TV,
which is what I do. And I was also saying
that budget time in New Zealand, you build it up,
you have the budget day, the next day you have
all the noise, the sprooking, and maybe if it's been
controversial the day after then it disappears. And yesterday I'm
still watching just people genuflecting and being apoplectic about what

(01:16:57):
happened in excess a week inaccessible week ago. So this
seems to be a major deal.

Speaker 25 (01:17:02):
I reckon that's going to have to be an adjustment
to particularly the capital gains tax discount changes. Because what's
emerged and again today new figures what's emerged is this
is going to impact on young people doing startup jobs.
I mean we had speaking of Scotch and the Jeaneine Alis,
do you have boost Juice in New Zealand?

Speaker 2 (01:17:24):
Yes, we do.

Speaker 3 (01:17:26):
Well.

Speaker 25 (01:17:26):
She started boost Juice from her kitchen table, Jeanine Allis,
and she's a fairly private woman. She now franchises that
business and she also runs a couple of other businesses.
She said she would never have been out of start
boost Juice if she thought that if she built the
business up and then wanted to sell it, the capital
gains tax would be so prohibitive on what her profits

(01:17:47):
would be that she would probably have said, oh, well,
I can't be bothered doing that. And that's what a
lot of young people are now saying. Australian reports this
morning seven hundred and forty thousand wage and salary earners
are going to be hit by these So the tax
offer shows that sixty six point two percent of people
who reported capital gains taxes tax last year were actually

(01:18:09):
salary workers. So this idea that this is just going
to hit some rich fat like sitting around trading shares
and looking down on people who are in the workforce.
It's just not right. And so to your point about
oppositions coming up with alternative policies, the Shadow Treasurer will
stand up to Wilson today in the Press Club in
Canberra and launched the opposition's idea of indexing the tax thresholds.

(01:18:34):
Now what that does, of course, is it gets rid
of bracket creep and you keep more of what you
un Currently people just get tipped into higher tax brackets
in this country through bracket creep, and the opposition's idea
would stop that. So that's where we're at right now,
and I think a contest of ideas but finally be emerging.

Speaker 2 (01:18:53):
Yeah, that's a good sign. The suggestion also I read
yesterday was that there's growing angst within the government that
this is a bit stronger by way of pushback than
they thought.

Speaker 4 (01:19:03):
Is that fair?

Speaker 25 (01:19:05):
Oh yeah, absolutely, And I don't think well, our Treasurer
and our Prime Minister have never worked for a wage
in a private company, I mean, and they've never run
a business obviously, Clearly they're both career politicians, I mean,
and Jim Charmer's the treasure. He's known as doctored human
Charmers because he's got a doctor and he wrote his
PhD about Paul Keating. I mean, these are the people

(01:19:27):
running the country and I think Treasury just gave them
a full on advice on how they could try and
scrape out some more money from Australians to fix their
budget black hole, and they went with it without it
really understanding fully what the implications are going to be.

Speaker 2 (01:19:42):
How are your fire bombings going well.

Speaker 25 (01:19:44):
There every night? And the reason I raised this again
now is because someone has finally worked out what's going
on now. You and I've talked a lot about tobacco
fire bombings, and that's because if you run an illegal
tobacco shop, obviously you're selling cheap imported cigarettes, and if
you're not part of the team that likes to bring

(01:20:04):
in most of the cigarettes, they'll burn your shop down.
It's all about tax revenue. And this has now gone
to booze. So they've run out of tobacco shops.

Speaker 3 (01:20:13):
To burn down.

Speaker 25 (01:20:14):
They're now burning down bars and alcohol outlets because there's
a scheme in place. You won't believe this that allows
boutique brewers and people who make gin and vodka in
the backyard shed. They can pocket the first three hundred
and fifty thousand dollars of tax on the spirits they produce.

(01:20:35):
That's going to suddenly become four hundred thousand from July one.
So what these fly by night operators are doing is
cooking up methodol, pretending it's legitimate vodka, claiming the tax back,
and telling people who sell legitimate boos that if you
don't sell our illegal booze, we're going to burn your
shop down. So it's just tobacco all over again.

Speaker 2 (01:20:59):
Thirty When you say Victoria's your thirty k streets, do
you not have that? I thought most metropolitan centers in
the world have gone down fifty to forty to thirty,
some even twenty.

Speaker 25 (01:21:09):
You can't drive it thirty. I'd defy people to drive
at thirty. There's a couple of streets in Collingwood, I think.
But the Heraldson's reporting this morning that the premier is
going to tip a million dollars. Don't know where she's
found that down in the back of the couch into
a number of councils to turn them into thirty kilometer
and our streets. One of those streets is our favorite street,

(01:21:30):
like Chapel Street.

Speaker 3 (01:21:31):
No way.

Speaker 25 (01:21:32):
So that means that if you're driving at thirty k,
you'll be able to dearly aramphetamines out of the window.

Speaker 17 (01:21:38):
Without actually stopping your car.

Speaker 25 (01:21:40):
You'll be able to throw a fire bomb into another
tobacco shop as you motor along at thirty K. I mean, seriously,
if I mean these people have got no idea a
million dollars to turn the street into a thirty k street.

Speaker 2 (01:21:54):
All right, make see you next week. Appreciated sleep price
out of Australia. By the way, the head of the
Bureau of me Urology. Remember the scandal over the Weather
Service in Australia. They spent ninety six million dollars. Guys,
name's Peter Stone. They spent ninety six million dollars rejigging
their website and no one could use it, no one
could access it. Was a complete waste of money. They
had a scandal, a sort of investigation. Anyway, he's quit,

(01:22:17):
so he's leaving very shortly, spunly enough. I wass bring
a thirty case. I was in town yesterday, very briefly.
Here's what's going wrong. With New Zealand. So I was
in the city sent Actually, i'll tell you in a
moment sixteen to nine.

Speaker 1 (01:22:30):
The High Asking Breakfast Fall Show podcast on iHeartRadio powered
by News Talks at B.

Speaker 2 (01:22:38):
I knowe that Google, by the way in New Zealand.
I don't know what to do about this. There's nothing
you can do, as far as I can work out.
So Google in this country made ninety two million dollars,
which is a six percent increase over the previous year
of eighty seven million dollars. But that's not the true story.

Speaker 3 (01:22:52):
Of course.

Speaker 2 (01:22:53):
Their revenue was actually one point one seven billion that
we paid them, and that went to service fees overseas,
so left with next to nothing. When you left with
next to nothing, the tax on next to nothing is
even less than next to nothing. So about ninety two
percent of Google's total revenues paid and service fees to Singapore.
And I guess if you're global, you park yourself where
it's jurisdictionally advantageous to your good self. So I don't

(01:23:17):
know what we do to get around that. The same
way I don't know what we do to get around
the business between news and tech companies and deals some
cup and governments trying. We're not. I don't know what
we do around governments and social media and kids and
banning them. That's where it'll probably not doing anything. Anyway.
I'm in town yesterday, so I go into the problem
with the city. First of all, Auckland City. Once again,
sorry to rest the country, to bore you, but Auckland
City feels to me like it's back, and if not back,

(01:23:40):
it's certainly bloody close to it, because it is. It
is humming, it is pumping. And so it wasn't nol Leaming.
Who's give me another name. That's not nol Leaming. No,
not JB high fight cheers. Some producers are useless, nol Leavings,
no Lemings. What's the other one, Harvey Norman, nol Leavings.
So nol limbs it is. They're going downtown Auckland. So

(01:24:03):
they're opening up the store. I told you about this
the other day. So that's a thing about the Auckland
central city. They're thinking, this is good. We're vibing it,
we're getting in, we're spending money, we're investing. This is
all good anyway. So the problem with downtown Auckland is
they've butchered it. The Council's butchered it. You've got so
many rules, so many regulations. So this only triggered me
because Steve said the thirty k I don't know what
the speed limit in Auckland is. I don't follow it anymore.

(01:24:23):
I just do my own thing because it's so stupid.
There are so many of them, it's pointless. They've got
so many cameras, and there's suddenly your car can't go there,
but a truck can, and a taxi can, and a
uber can't. And then you're trying to find a park.
There are no parks. They've taken all the parks away.
So I go park in a Wilson's park twenty four
bucks an hour, I mean twenty four dollars an hour?
Are you taking the pess? But because there are no

(01:24:48):
parks on the street, you've got to go there, there's
nowhere else to stop. So who else is in the
car park? Answer? Trade is vans, hundreds of them. With
all the development going on in downtown Auckland at the moment,
you need trades. Where does a trade he put his
truck when he's building there all day, every day, four weeks, months, years,

(01:25:10):
on end. He puts it now in a car park
at twenty four dollars an hour for eight ten hours
a day. You're paying two unred and fifty bucks a
day to park your van times yesterday, I yesterday was
typical fifty vans. Now, who's paying for that? Answer to
the people who are doing the building or whatever it is.
And you wonder why the cost of building anything is
so damn expensive. If a trade's paying twenty five dollars

(01:25:33):
now to park their van for ten hours a day,
every single day, for the time that they're on that job,
how mad is that? Mind you? What's the solution putting
streets parks back on the street? I guess ten away
from nine.

Speaker 1 (01:25:46):
The Mike Hosking Breakfast with Defender and news Tomsdad.

Speaker 2 (01:25:49):
B Now, no denying, And of course business is under
pressure at the moment keeping up the current market, keeping
up from the current market takes real innovation and a
bit of sweat at the moment, which is why businesses
are getting ahead of the crowd and looking harder at
tech and tech that genuinely improves how they operate. Because
resilience doesn't just happen overnight. Of course, you've got to
build it. And that's the conversation that Spark is having

(01:26:09):
with all their customers at the moment. Whether it's smarter connectivity,
cloud solutions that scale with you, unlocking the power of
AI to drive that better decision making and productivity. Spark
is helping businesses stay ahead of that curve. So they're
not just selling tech, they're offering real solutions and real support.
It's about making your systems work together so your people
can focus on that day to day stuff that really matters.

(01:26:30):
So if you're ready to take the pressure off and
move forward with confidence, have a word with Spark and
that Spark for Business people. They'll get it all sorted.
So have a look at Spark for Business task get Mike,
I bet your bottle of Craigie, your own soul that
Hipkins will fall on a sort after he loses the election. Murray,
that's not even a bet. I said the other day
that given he will lose on the night, that's twice

(01:26:52):
once you get a crack because he only got at halftime.
He got a sort of a hospital pass. He ran
the best he could. He lost on the night. But
if he goes this time and loses again, I would
pick it'll be Helen Clark all over again if you
go back far enough. She resigned on the night, and
I think that's the honorable thing to do, because inevitably
they'll knife them in the back. And he doesn't sex
away from.

Speaker 1 (01:27:11):
Nine trending now with chemist Warehouse half praise would sail on.

Speaker 2 (01:27:17):
Now, God, I so regret this. So there was a
throwaway line I made on Friday on Friday show involving
the Hits, and so they picked up and run with
us because they're desperate for attention. They're downstairs, they're trying
to build an audience, they're working really hard, blah blah blah.
So day three, they're still upset with me. This was
this was this is the this is their show at

(01:27:37):
seven twenty six this morning.

Speaker 4 (01:27:39):
The Hits versus news talks.

Speaker 14 (01:27:40):
He'd be this is a this is a war no
one asked for or no, I think alike, Yeah, they
don't even understand.

Speaker 4 (01:27:46):
What's happening here.

Speaker 1 (01:27:47):
No, So yesterday we tried to get his attention because
he did kind of offer to come down and to
help us out, to help.

Speaker 5 (01:27:55):
You give us some pointers.

Speaker 1 (01:27:57):
It's a little patronized, a little bit you're right.

Speaker 2 (01:28:00):
Has that been in that Has he returned from his
long weekend? Has he turned up on the show. Oh
so there's all of them there this morning. Oh that's good.
Well that would be my first piece of advice, turn
up and do your show instead of taking a long weekend. Anyway,
they tried yesterday to get my attention. Typical of musical stations,
music stations on the lower floor.

Speaker 14 (01:28:22):
Yesterday we tried to text bomb Mike Hosking, which it
kind of works.

Speaker 4 (01:28:26):
Do you know what you are?

Speaker 17 (01:28:27):
Your test bomb tax bombed classing text.

Speaker 14 (01:28:31):
Bar and all of you wonderful people were bombarded the
new taol ZB text machine with Happy New Year, Mike,
and that was the show catchphrase obviously, So I think we.

Speaker 1 (01:28:40):
Got his attention, which is good.

Speaker 2 (01:28:43):
No, you didn't, because there were six texts and they
all said Happy New Year. And I said, why have
six people suddenly texted me Happy New Year? Anyway? They
want me to do a favor for them.

Speaker 4 (01:28:53):
So we're like, right, the door's open, you come down
at any stage.

Speaker 1 (01:28:56):
We're in the same building. We're calling your bluff, Mike Costing.
What could go wrong?

Speaker 4 (01:29:00):
I don't know, I don't know.

Speaker 1 (01:29:03):
We are going to do this right, Well, he pitched it.

Speaker 21 (01:29:05):
We just want him to put his money where his
mouth doesn't actually come on the show for a bit.

Speaker 4 (01:29:09):
Yeah.

Speaker 14 (01:29:10):
As I say, I think it's something came out of
his mouth that he had no intention of doing.

Speaker 2 (01:29:14):
That is correct, That's one hundred percent correct. Now they
put up a billboard the now we filmed this. We
filmed the billboard for you, and we'll stick it up
on our socials. Uh and and so the billboard is
a photo of them and me. And so if you
want to watch that, go to our socials and enjoy yourself.

(01:29:37):
Hopefully I've helped them out in some Hopefully they've got
some some of them some jolly's out of it All
back tomorrow morning from six as always on The Mike
Hoskin Breakfast, Happy Days.

Speaker 23 (01:29:56):
God.

Speaker 1 (01:30:03):
For more from the Mic Asking Breakfast, listen live to
News Talks at b from six am weekdays, or follow
the podcast on iHeartRadio.

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