Full Show Podcast: 22 May 2025

Episode Transcript
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Speaker 1 (00:00):
Your source of breaking news, challenging opinion and honors backs,
The Mike Hosking Breakfast with a Veda, Retirement Communities, Life
Your Way News, togs Head By Welcome.

Speaker 2 (00:11):
It's Budget Day Expectations. Hi, we'll look at the business,
the health, the tax, among others. Some very good news
around experts in our business in the world, which is good. Barnaby,
we are founding member of Fly My Pritties in for
a song and a Chat. They're back with a new album,
first in five years. Joe's and Rome Rod is in
Britain asking welcome to the day, seven past six to
tell you what I hope for today is a sign
in a sense that what we are facing economically as

(00:34):
a country is real and it's real bad, and the
government see it accept it in charter Pathway Forward. That
gives us some sort of hope. The damage done by
Jacinda Grant Christen Adrena is now years long. You can't
invent money in that volume without spending the ensuing years
trying to dig yourself out of it. The start has
been made, of course, the cutbacks have begun. The screaming,
whaling and upsetters ensued, but small note there's a lot

(00:55):
more where that came from. The Seeds of recovery are real.
Manufacturing is expected, has been for several months. Services though, isn't.
Sentiment isn't. The farmers have struck gold, but the weather
has been exceptionally kind, as have Americans with their passion
for burgers. Our debt is shocking. We're not running a
surplus on any annual basis, and still won't be for years.
The Finance minister today has virtually nothing to play with.

(01:17):
No excess, no lolly, no large yess. She has, I
hope found a fortune in savings and she will redirect
that to better places. I pray she isn't borrowing on
top of what we already have incurred. If she is,
she may well be making a generational mistake. Treasury says
fifty percent debt by way of GDP is it. I'd
say it's lower than that. In a sense, today should
wrap some numbers and forecasts around the rhetoric. The rhetoric

(01:39):
being we are open for business, we are pro growth,
we are big on infrastructure, most importantly fiscally as well
as economically. We are not going to die wondering. Today
is not a day for a dollar a year a
dollar there. It is not an itch scratching exercise. It
should be a document that lays an ongoing foundation for
the major project that is the economy resuscitation of the

(02:01):
New Zealand economy.

Speaker 1 (02:04):
News of the world in ninety seconds.

Speaker 2 (02:07):
Well, if you turned central and the uk PMS back
down on the heating payments, we want.

Speaker 3 (02:11):
To ensure that as we go forward, more pensioners are
eligible for winter fuel payments. As you would expect, mister Speaker,
we will only make decisions we can afford. That is
why we will look at that as part of a
fiscal event.

Speaker 2 (02:26):
Tories are all over.

Speaker 3 (02:27):
I'm going to ask him a simple question.

Speaker 4 (02:29):
It only requires one word, yes or no. Is he
planning to U turn on winter fuel cups?

Speaker 3 (02:36):
Mister speaker. I made clear of my earlier answer that
as the economy.

Speaker 5 (02:42):
Improves, Scott said Craig, imagine the first act of a
labor government to take away winter fuel payments from pensioners.
It's absolutely beyond belief. But the SNP government has come
in and we've restored those payments for pensioners, and pensions
in Scotland will be assured that they'll be getting the payments.

Speaker 2 (03:00):
Also bothering the government was the inflation figure, which came
in higher and expected.

Speaker 3 (03:04):
Clearly we're in a different place so where we were
under the previous government where inflation got into double digits,
but we recognized the cost of living is still a challenge.

Speaker 2 (03:14):
Exactly across the pond in Washington, it's another yellow chair
day for the President as he welcomed Cyril of South Africa.

Speaker 6 (03:19):
So great honor to have you and I appreciate you.

Speaker 1 (03:21):
Called you.

Speaker 7 (03:22):
He called.

Speaker 6 (03:23):
I don't know where he got my number, but I
picked up. He said, I want to come over and
see you.

Speaker 2 (03:29):
That was my Cyril. Like so many of your forum
couldn't help. But notice all the gold.

Speaker 8 (03:33):
Thank you very much for welcoming us to this reformed
White House. I've been here before and it looks really fantastic.

Speaker 2 (03:42):
I must congratulate you warning that was the best bit.
It went downhill in historically gargaint you and proportions after that.
More shortly, football news you write for finals time, sixth time.
It's been all English.

Speaker 3 (03:56):
We're familiar with the stadium, we've been here, We've got
a great result.

Speaker 2 (04:00):
Let's take it home.

Speaker 4 (04:01):
This is our only answer.

Speaker 9 (04:03):
Actually turning it, get the monkey off far back and actually.

Speaker 2 (04:06):
Get over the line for what home kickoffs at seven. Finally,
news from the bathroom. If you're only going to shower
once aday, should be in the morning. This is when
scientists know lest they'd come up with us, not just me.
Removes the sweat, the bacteria that had skin cells that
develop when you're asleep. Here's an eye opener. The vast
majority of dermatologists agree. Actually only every other day is plenty,

(04:27):
so in the morning every other day. Further tips, you
should always wash your hair with shampoo and conditioner before
you wash your body. And this was the shocker to me.
Eighty six perced of us don't do that. I can't
work out why not use the world in hygiene. In
nineteen the inflation number just in Britain three point five,
so that's way outside the band they thought three point three,
which was bad enough, Core, which takes out your energy,

(04:48):
your food, your booze, and tobacco three point eight, so
things aren't flesh. Eleven past six.

Speaker 1 (04:55):
The Mic Asking Breakfast Full Show podcast on iHeartRadio. I've
made news talks evy.

Speaker 10 (05:03):
Yeah.

Speaker 2 (05:03):
The problem for starma is not only was it a
back down these winter payments, depending on who you are,
can beig up to three hundred pounds. And he backed down.
But then everyone said, well where's the money coming from? Mate?
And the fear now is when we'll talk to Rod
about this later. The are taxing prices coming fourteen past six,
don't goven Funds Management. Greg Smith morning, good morning, Mike

(05:24):
upbeating Apier their back, Gabriel's gone their back, which.

Speaker 11 (05:27):
Is good as they're through that well and truly so
that she has had a cracker on the half years
old up seven percent yesterday. Solid uplifting cargo volumes that
was up fourteen percent. Revenues up ten point six percent,
seventy eight million through cycling gravy all. They actually got
a settle a final claim the era that contributed aund about

(05:48):
seven and a half million, but underline net profit that
was strong. That was up thirty three percent fourteen point
eight million. Container services revenue that was up twenty seven percent,
forty two million, So a lot of the volumes are
going well. The pen pulp and paper plant that's that's
back homing since November after you know, millions of dollars
of investment by Japanese owners. So that supports a lot
of jobs there. Two, so that's a good story. Early

(06:10):
apple picking season that's also been helpful. And yeah, just
the local hawks play horder culture sector is going pretty
well generally, so looking here, they're still mindful of some challenges,
particularly in terms of log exports. But yeah, good news
on the cruise front, they've got ford bookings of for
the twenty twenty six season around sixty six. Cost control
has been going pretty well. And yeah, the good news
for Shield as Mike was there was a special divvy

(06:31):
turn half sins for share and they also revised up
the underlining earnings forecast for FY twenty six to two
between fifty nine and sixty three million from fifty five
to fifty nine million. The early days in the earning
season might but there's one clear trend emerging already. Companies
that disappoint on the outlook are being punished. Those that
over delivered are being rewarded. Pretty simple equation, so shares

(06:53):
are up and next shares a back at pre cyclone
Gabriel levels. They're executing well. Actually, another sort of thing
that was of interest I think is with mental energy departing,
the stock's probably the front runner for inclusion in the
Nzetics fifty, so that would be sentiment.

Speaker 2 (07:08):
Further good news story internationally, Tarja, I know there's a
miss there, So what's that telling us about sentiment and
dropping and all that.

Speaker 11 (07:16):
Yeah, taj I target for sure. So obviously a lot
of interest in retail and consumer facing companies given tariffs
and given how important the consumers to the economy. So
you know, off target, she is down five percent first
quarter rings of a billion that missed estimate. Sales fell
nearly three percent, and they actually lowered their four year.

Speaker 2 (07:35):
Sales outlook as well.

Speaker 11 (07:37):
So that contrasts the likes of Walmart Home Deep and
also they chain lows overnight, which all maintained the forecast.
So management they blame weaker with discretion spending a bit
of a backlash against the rollback of their diversity. Could
inclusion efforts partly performance, but to be fair, it's been
struggling for a while. Actually this is in the midst
of a turnaround. But that SEDIA tariff uncertainly is clearly

(07:58):
paying a part in recent times. And you had a
big question that analysts are asking menagement on these earnings calls,
is what are you going to do with tariffs, How
are you going to cope with prices? Is a consumer
going to copy? And obviously Walmart has copped it from Trump.
He reckons they should eat the tariffs home deeper and loads.
They say they can cope without raising prices. They're going
to renegotiate terms, They're going to use buying power and

(08:19):
so on. So Target's probably a little bit in the middle,
and it really depends on how reliant they are on China.
So Target gets around about half of what it sells
from the US. Thirty percent is produced in China, so
it's still quite high, but it was sixty percent a
few years ago. They reckon they can get down to
around about twenty five percent by the end of the

(08:40):
year and that they can probably cope, but they might
have to raise prices on some items.

Speaker 2 (08:46):
I suppose.

Speaker 11 (08:46):
Yeah, this is why we've got a lot of US
companies and they paed them quickly to get production out
of China. But it's still going to be a really
important manufacturing base for most in particularly when you think
likes of Apple. So yeah, strong interest in how these
trade talks progress.

Speaker 2 (08:59):
Might I reckon? So Japan, what how worried are we
is this a recession or though.

Speaker 11 (09:03):
Yeah, we're getting clos there actually, so they're probably one
of the countries hit the hardest by the terraffs, particularly
twenty five percent tariffs on auto imports. So your export
grows slow there for the second straight month. Half of
March's growth slower since October last year. Automobiles are almost
thirty percent of their exports. They fell by nearly five percent.

(09:24):
Steel that's also copped off a tariff as well, that
fell twenty nine percent. They've got these ten percent baseline tariffs,
but the reciprocal tariffs are potentially going back to twenty
four percent from July. So that's not a great news
story for Japan. You look at their trade surplus went
from eight forty seven billion to seven eighty billion in April.
It's potentially going to be a real drag and they're

(09:46):
already halfway do it to a recesson I suppose you
could say GDP in the first quarter was down point
seven percent. Thank of Japan, unlike other central banks, I've
been trying to keep inflation going. There's a thought now
that they'll probably have to kick the next type down
to October, just until the Tower fund certainly was resolved
and yeah, things have changed, But you know, Trump, it
seemed like jam Japan is going to be one of

(10:06):
the first to agree a deal with the US. Seems
to install the top negotiator says that the USE should
remove tariffs on Tokyo. There's no rush to a deal,
and he reckons they're not going to sacrifice the agricultural
sector in Japan to protect the order industry. Well, I
know they might have to re look at that because
the export powers is now at the risk of a
technical decession if this drags on. So haven't really got

(10:27):
the upper hand in those negotiations. What are the numbers So, yeah,
a bit of weakness over today after the previous good
run previous days. But the Dow down one point forty
one nine four four s and P five hundred down
one percent, as is the nasdack footy one hundred mension
has inflation numbers that's up point one percent, nick A
down points six percent, ASEX two hundred up half a percent,

(10:50):
as was the ZX fifty Gold up twenty four dollars
three thousand, three hundred and fourteen, announce aill down forty
cents sixty one spots sixty five a baro currencies Q
against the U is fifty nine point five up about
Australian dollar ninety two point three up slightly, as also
against the British pound forty four point three. Japanese in
speaking of that eighty five point four down point three percent,

(11:13):
and today, as you mentioned, a lot of interestnap budget.

Speaker 2 (11:15):
That's the truth. Make catch up to morrow. Greg Smith,
Devon Funds Managementsky Douctory Market, Canada, Goose. If you're a
Ski you probably know the name. Fiscal fourth quarter shares
had gone up twenty percent. They're not providing anything financially
for twenty twenty six because the wouldn't have a clue
like anybody else. Revenue though, up seven point four percent,
so if you make a quality puffer jacket, that's still
money for US six twenty one. You're a News TALKSB.

Speaker 1 (11:44):
The Vike Hosking Breakfast Full Show podcast on iHeartRadio powered
by the News Talks at B.

Speaker 2 (11:51):
Couple of quick things on Japan. The ECB came out
this morning. I was mentioning earlier this week. Money is
flooding into Japan for equities and bonds seen as a
safe haven. It's flooding out of America. America's reputation globally
is taking hammering at the moment. But I'll come back
to that. Also in Japan, the former farm minister whis
he the former farm minister because he had to quit
his name as taco Eto And he came out the

(12:13):
other day for some reason best known to himself, and
he goes, the good thing is, I've never had to
pay for rice in my life. I've never bought rice
in my life. People give it to me. All my
supporters just give me rice. And everyone in Japan went, well,
what the hell? Because rice is very expensive. They're strange
in Japan around their rice. They protect small farmers. The
small farmers aren't remotely efficient, so the price of rice
has gone through the roof. A lot of people can't
afford rice. It's a basic but they can't afford it.

(12:35):
And this clan comes out and goes, I don't worry
about me. I buy I get given it all the time,
so I don't need to to anyway. The Prime Minister said,
excuse me, bye bye, So that's the to him. Six
twenty five.

Speaker 1 (12:45):
Trending now quit chemist warehouse mayhem megasled on now.

Speaker 2 (12:50):
Right Trump, White House, Ramaphosa. This is where he ambushed him,
straight up and down ambush. They're chatting away talking about
the gold in the room. Next thing, Trump does this
very bad.

Speaker 6 (13:00):
These are the These are burial sites right here, burial
sites over a thousand of white farmers. And those cars
are lined up to pay love on a Sunday morning.
Each one of those white things you see is across

(13:22):
and there's approximately a thousand of them. They're all white farmers.

Speaker 2 (13:28):
This is being played on a screen. One of the
reporters set in fifteen years, never seen screen in the
White House. So it was a sit up, straight up
and down, seat up, Sam Ramfos had to go. Have
they told you where that is, mister president?

Speaker 8 (13:40):
You know, I'd like to know where that is, because
this I've never seen.

Speaker 6 (13:47):
Okay, I mean it's in South Africa.

Speaker 7 (13:51):
We need to plan it.

Speaker 2 (13:52):
See it's excruciating. At this point, Trump runs into an
element of trouble at the stage.

Speaker 6 (13:57):
These are people that are officials and they're saying that
kill the white farmer and take their land.

Speaker 12 (14:03):
That's what.

Speaker 6 (14:04):
And I have other friends in South Africa, people that
left one in particular that says it's he can't go there.
He said, they take your land, they take your land, and.

Speaker 7 (14:15):
They kill you.

Speaker 2 (14:16):
Ram is fighting for his life at this point. That
is not government policy.

Speaker 8 (14:20):
We have a Marchi party democracy in South Africa that
allows people to express themselves, political parties to adhere to
various policies and in many cases and in some cases,
those policies do not go along with government policy. Our
government policy is completely completely against what he was saying,

(14:48):
even in the parliament.

Speaker 2 (14:49):
Make no mistake, Rama Phos is no saint, but he
wasn't expecting this. This is as bad as Zelensky, if
not worse. And that's before Trump laid into the BC.
And I'll have that for you after the news. Meantime,
what we do need to do is celebrate Zesprey and
our farmers. Zesbury have broken records like no tomorrow. So

(15:09):
we'll have more of the numbers country for you, some
of the numbers on budget day.

Speaker 1 (15:12):
After the news, the news and the news makers the
mic asking breakfast with the range rover. The la designed
to intrigue and use Tog's head.

Speaker 2 (15:24):
Be he put this a visceration from Trump to Ramaposter
on the mat and wrap it up. What he was
looking for. Once he sort of exposed the so called
scandal was the reporters in the room to ask him
a whole bunch of questions about white genocide. Unfortunately, some
reporters wanted to ask about I don't know, things like planes.

Speaker 8 (15:41):
Of the Panagon announcement would be accititing OATORI chat to
us as aero reformer, what.

Speaker 13 (15:47):
Are you talking about it?

Speaker 1 (15:51):
You know, you to get out here.

Speaker 6 (15:54):
What does this have to do with the guitar jet
they're giving the United States for us?

Speaker 2 (15:58):
Said? Yet, okay, and it's a great thing.

Speaker 6 (16:01):
We're talking about a lot of other things. It's NBC
trying to get off the subject of what you just saw.
You are a real you know, you're a terrible report
number one. You don't have what it takes to be reported.

Speaker 7 (16:13):
You're not smart enough.

Speaker 6 (16:13):
But for you to go onto a subject about a
jet that was given to the United States Air Force,
which is a very nice thing. They also gave five
point one trillion dollars worth of investment in addition to
the jet.

Speaker 7 (16:27):
Go back, You're to go back.

Speaker 6 (16:29):
To your studio at NBC because Brian Roberts and the
people that run that place, they are to be investigated.
They are so terrible the way you run that debt work,
and you're a disgrace. No more questions from you.

Speaker 14 (16:44):
Asembable leader.

Speaker 2 (16:47):
Twenty three minutes away from seven, I'm sort of related
to Trump and the war and the peace talks that
aren't and the Pope and if they ever get started,
they can use the Vetican josementally shortly. I meantime back
here we you know that Zesbury has joined the growing
list of New Zealand producers who have had a tremendous season.
The cracked five billion in global sales, sold a record

(17:08):
two hundred and twenty million trays. That's compared with one
hundred and sixty four million last season. Jason to Break
is Esbury's CEO. Of course, need's back with It's Jason
Morning Wedding White You now, I'm ex strayed, well, not
as well as you. I mean one hundred and sixty
four to two hundred and twenty I mean that that,
I mean one hundred and sixty four to one hundred
and eighties, but I mean that's a massive increase. Where's
it all gone?

Speaker 13 (17:28):
Yeah, So, I mean we've been able to have a
pretty strong rebound from where we had last year, where
we had a pretty challenging season on the back of
quite a few different weather events throughout New Zealand. We've
been able to actually use good value and it's really
come off the back of a decad or so of
investing heavily in the brand, in our supply chain to
make sure you gets through or around the world and

(17:51):
through our key markets and also gets good value for
that to bring back to our growers as well.

Speaker 2 (17:55):
So the quantity side of the equation, I mean, it's
all very well to grow an amount, but you've got
to be able to sell it. How big is demand
potentially if you can make this sort.

Speaker 13 (18:04):
Of leap, Yeah, I mean we're looking to continue to
make sure we build demand a head of supply. So
we do that through both investing heavily in our brand,
making sure I really positioned around natural nutrition in the market,
which is very positive at the moment that a lot
of people around the world want healthy fruit products and
are willing to pay good money for good quality, so

(18:26):
we're able to offer that. But ultimately we see an
opportunity to continue to lift going forward into the next
ten years or so as well.

Speaker 2 (18:35):
Are you eating somebody else's lunch, or are you growing
new markets or they did buy cum quats and now
they're buying Zesbrey.

Speaker 13 (18:42):
I mean, look, we're trying to make sure we compete
for more share of the fruit bowl. If you think
about the global fruit bowl, we're actually a very small
percentage of that, So we are competing for people's stomachs.
But at the same time, we're seeing our rise and
consumers that are wanting to pay more and buy more
for their premium fruit products. So we have seen more

(19:03):
consumers around the world moving towards more natural products like.

Speaker 2 (19:08):
Fruit workers through a Green, Gold and Red. What's the story.

Speaker 13 (19:13):
So Gold continues to be in terms of the growth
has been the strongest performer. What we've been able to
see is a strong rebound on Green as well. I mean,
Green was pretty challenging for us the year before with
a lot of our crop that was sort of taken
out by frosts and cyclones. We've seen a good rebound there,
so still a very strong piece of our portfolio. And

(19:35):
then Red as fantastic as exciting. Consumers around particularly through
Asia are getting a really good sense of that and
enjoying the virancy of a new new product in the category.

Speaker 2 (19:47):
I mean without putting too find a point on it
and being crass. I mean individual grass must be rolling
and die. I mean you can't sell this much stuff
without really doing well.

Speaker 13 (19:56):
Yeah, I think the main thing we've been able to
give some good returns back our growers this season. We've
come off the back of essentially a couple of years
of pretty challenging times for them, both from a production level,
but also costs. Costs have continued to increase on orchids,
so we've got to make sure we keep lifting the
dar to make sure that we're making sure they can
make money as.

Speaker 2 (20:16):
Well, which is my final question. Is there more where
this came from?

Speaker 13 (20:22):
Look, we've got another big crop this year where we're
about twenty percent of the way through selling that, so
we're making sure we can secure good value. But as
you look around the world at the moment, yes, is
just a bit of a challenging environment making sure we
can do that. So that's the focus right now, securing
good value for the season's crop, to make sure that
growers are still at a profitable level for this season.

Speaker 2 (20:44):
Good on you, mate, Always good to catch up, especially
on the good News Jason to break who's the zespri
ceo with this morning eighteen minutes away from seven? Goes
back to what the ECB was saying, the European Central Bank,
because this is major. The bloke who is the vice president,
there is a fundamental regime change underway in financial markets.

Speaker 11 (21:04):
Now.

Speaker 2 (21:04):
I know, normal, this is dry stuff that you and
I don't deal with. But here's what's happening. The Americans
forever have been the go to the dollar, the American economy,
the vibe, the marbo. It's been America. He argues, now
that America is such a mess that people with money
who buy bonds and equities and all that sort of
stuff are going you know what, I don't like the

(21:25):
look of them. I don't trust them anymore. I'm going
to park my money somewhere else. Now, he would like,
obviously it to be the ECV, but that looks like
places like Japan. But if we're seeing a shift of
this nature, it is gargantuan and it's historic. So watch
this space. Seventeen to two.

Speaker 1 (21:42):
The Mic Asking Breakfast Full Show podcast on iHeartRadio powered
by News.

Speaker 7 (21:47):
Talks, ep.

Speaker 2 (21:49):
Ill Disturbo. Who are the biggest drinkers of Australian wine
in the world we are. What's going on there? I'll
give you some more numbers on this in a moment.
I don't know how it's got so bad, but anywhere
more surely fourteen to.

Speaker 1 (22:02):
Two International correspondence with endsit Eye insurance, peace of mind
for New Zealand business and.

Speaker 2 (22:08):
Nbokay, if we didn't make any wine, but guess what
we do? Joe, how are you?

Speaker 15 (22:12):
Great?

Speaker 6 (22:13):
Mike?

Speaker 1 (22:13):
How are you?

Speaker 2 (22:14):
Of course you know me. I'm living in the dream now. Listen,
this is the Pope when he goes look, I'll do
the Vatican and you can all come here and sort
the war out. How logistically does that work with Maloney
given this sort of he's not the Prime Minister and
she's not the Pope. How does that unfold?

Speaker 12 (22:29):
Yeah?

Speaker 15 (22:30):
Well, I was surprised. He's told the Prime Minister Georgia
Maloney he's ready to host negotiations at the Vatican to
try and end the war between Russia and Ukraine. She
seems to be going along with it. But I mean,
are we really going to see Vladimir Pusian end up
in Rome? He sent his Culture minister to the inauguration,
and I think that shows you what he thinks about

(22:51):
the Vatican.

Speaker 2 (22:52):
Yeah, so maybe that's going nowhere. Who knows this IDF
thing though the Israelis. This is just another example. I
get the scene that the world is very quickly getting
sick of what is railed up to.

Speaker 16 (23:04):
Yeah.

Speaker 15 (23:05):
I mean today we saw the idea of shooting in
the air during an EU visit. The Italians were pretty
distressed about that because they also had one of their
vice consuls there at the meeting, the Vice consul to Jerusalem,
and the Prime Minister has ordered the Foreign Minister, Antonio
Tahani to summon the Israeli ambassador to Italy to make

(23:29):
a formal complaint about this. So I think people are
running out of patients, and we are seeing a shift
in the tone at the moment. I'm sure you feel
the same.

Speaker 2 (23:38):
Hundred scent we said. I think, as far as I
can work, I don't think we called our the Israeli ambassador,
and but our foreign minister was saying pretty much the
same thing. And I know that the trade talks that
the UK are conducting thereof they called ambassadors in and
so it goes tell you what I'm watching Joe, I
think I asked you once before and he hadn't seen it.
But Stanley Tucci did a very good series for CNN

(23:59):
on food around Italy, the regions of Italy, and it's
now gone to National Geographic and I've just started watching
the new series of that, and what I'm noticing is
a lot of Italy, as beautiful as it is, as
historic as it is, seems poor and it seems run down.
Is that a fair assessment or not?

Speaker 13 (24:20):
Yeah?

Speaker 15 (24:20):
I think what you do see on that program, in particular,
is these areas, these pockets of Italy, like you said,
that are underdeveloped, that have been forgotten, that really are
still very agricultural, very poor, that have suffered from emigration,
you know, that are really crumbling. And that's we've talked
about the one year of houses for example, in those

(24:41):
some of those areas as well.

Speaker 2 (24:42):
And my nephew, as you probably well know, is sitting
in Sydney at the moment, having abandoned Italy because it
is not to his liking. At the moment, are lots
of people bailing, Yeah.

Speaker 15 (24:53):
Especially the young people we're seeing now one hundred thousand
university graduates aged from twenty five to thirty four have
left Italy in the past ten years, and this trend
is not being turned around. I don't see the government
in particular or private enterprise offering opportunities. It's still a
country that operates on personal connections and what they call racommandatzioni.

(25:16):
So when you have somebody that introduces you to a job,
So these people are leaving, they're not coming back.

Speaker 2 (25:23):
So if you've got people leaving and we're suffering the
same problem. Of course, if you've got people leaving, then
how do these citizenship rules dubtail with that?

Speaker 15 (25:33):
If you're making a part exactly, The Italian Parliament is
passing a law to make it more difficult for people
who live abroad with Italian heritage to gain citizenship. Now
you must have a bloodline, you must have a parent
or a grandparent who was a citizen of Italy. So
you would think they would be making it easier since

(25:54):
they're losing all these young people, but in fact they're
making it more difficult.

Speaker 2 (25:58):
Amazing, All right, Joe ketchup next week very much. Joe
mckenner out of Italy. This one. I can thoroughly recommend it.
I mean I recommend it the first time with CNN,
but CNN ran out of money, so he went to
National Geographics. So they're all new programs. But what you
noticed was and it's beautifully shot, and I mean, you
can't argue with that. He was in the first episode
Who's in Tuscany and Tuscanese. I mean, it's just it's
gobsmakingly beautiful. But he just wanders around little eating tripe.

(26:20):
That's all they serve. And if it's not tripe, it's awful.
They saved He had a bowl last night. He was
in Lombardy. Lombardy, by the way, has been saved by
the Indians, which I didn't know. So they were farming
in Lombardy, south of Milan, north of Amelia Romano, which
is where the f one was the other day. Anyway,
that's the farming area, or one of the farming areas.
So they give up farming. The bit sick of farming,

(26:42):
so they brought all these Indians in and the Indians
loved the cows, and they saved farming. And grana padano,
which is one of the great cheeses of the world.
There is more granit bandano eaten in the world than
any other cheese going, and the Indians have saved Granna
Padano in that particular part of the world. Anyway, it
gets a bowl of food and what's the food. It's rabbit,
all the different bits of but none of the meat, tongue, throat, stomach.

(27:03):
I'm it's exactly. And all he does is scoop it up,
and I mean, God bless him. He scoops it up.
He goes, oh delicious, And you think, well, fair enough,
but that's literally. In fact, they ran out of tripe.
When they ran out of tripe, they invented fake tripe,
which is basically polenta stuck together, called fake tripe. And
I'm thinking, how many of these restaurants can you go

(27:24):
around eating the same polenta? I'm back in nine Away from.

Speaker 1 (27:29):
Seven the mate Hosking Breakfast with Bailey's Real Estate News
Dogs Dead be.

Speaker 2 (27:34):
You might just remember that much of the annoyance of
many in Australian wine industry, the Australians drink a lot
of New Zealand wine. I will come back to the
numbers a year, but you gotta understand that their wines
crap and ours isn't. So I mean, there's nothing wrong
with them drinking. It's just there's a bit cheaper. Sometimes
it's a bit and there's a reason for it. Glenn,
it's crap Italy pour and run down. Might take a
look around you don't. It's why I raised it. Whether

(27:55):
it's the same thing, it's the malaise of New Zealand,
it's the malaise of Italy. It's places like that all
over the world that are suffering the same problems. Five
away from seven.

Speaker 1 (28:06):
For the ins and the ouse. It's the fiz with
business tiber take your business productivity to the next level.

Speaker 2 (28:13):
I got more good news. Jobs Seek Employment report for April.
Job ads are up one percent for the month, fourth
month in a row, that's jan feb March in April.
They also say, this is where it gets confusing, that
job ads grew one percent for the second month, marking
the first consecutive months of growth in almost two years.
So the two don't dovetail. The two don't make sense.
Did they chat GPT that did that? What happened there?

(28:34):
Job applications are down three percent month on month, more
jobs come on to the market, so that's the first
drop since November. Encouraging manure. Two biggest rise in job
ads at ten percent, followed by Northland eight, Tasman seven,
Auckland three, Wellington christ dut it's nothing, Come on christ Dute,
I mean Wellington, I get for christ Church, Come on nothing.
Gisbon dragging us down adds a down fifteen percent, Taranaki

(28:57):
eight down, Hawks Bay, Marlborough down. Applications per job. They
decreased in all regions bar Manua two. Twenty one of
the twenty eight industries had month on month ad increases,
So that's encouraging. So virtually all of them. Biggest increased
Design and architect Design and architecture fifteen percent up to
all go retailing, consumer products. How to explain this up

(29:19):
ten percent retail? How to explain this? No and shopping?
Apparently Kirk's not Kirks Smith and Coe. Now look at
that makes me so angry. It makes me so bloody
angry Smith and Coey, I'll come back to that. I'm
going to get too angry for the news, and I
don't have time to be that angry. Where are my farming? Animals?
Human Resources and recruitment all up nine percent. Biggest drop
was in science and tech down eight, Insurance down five, sport,

(29:42):
and wrecked down four, healthcare down three. There's a lot
of noise around those numbers, but let's take out the
good news where we can find it, and that is
the number of job ads are going up, encouraging, which
does of course debtail into two pm this sarpternoon coverage
on zb obviously, but we'll go through a bunch of
sectors the next half hour and see what their expectations are.

(30:02):
I hope they're tempered because we've got literally no dough.
Yes it is budget day, and then later Steven Joyce,
former Finance Minister with us as well. Meantime news is next.

Speaker 1 (30:11):
The only report you need to start your day, The
mic Costing Breakfast with Bailey's real Estate, your local experts
across residential, commercial and rural news togs.

Speaker 2 (30:22):
He had been only seven past seven Budget day and
what to expect given we've got no money, but the
expectation among some remains as high as ever. So what
are the priorities? Is it's saving or borrowing all? Both
Michelle and the Comick is the policy director at Infrastructure
New Zealand and as with us Michelle, good morning.

Speaker 17 (30:35):
Good morning Mike.

Speaker 2 (30:36):
The broad direction of travel, the roads, the rail what
we've heard so far, do you get a sense the
government's on top of it or not.

Speaker 17 (30:43):
I think they're trying to make some progress within the
constraints and it's good to see that his continuation and
building on the fundamentals too. We've got eight one hundred
projects sitting in our pipeline, so there's no shortage of ideas,
but only about half of the two one hundred and
seven billion dollars worth of work is actually funded. So yeah,
there's a lot of opportunity to move forward that some

(31:03):
of it's the system settings too that we want to
see progress continue to be made.

Speaker 2 (31:07):
Do you want to hear something about these PPPs or
the overseas investment or the money coming from somewhere today?

Speaker 17 (31:13):
Yeah, definitely. We're king that the government infrastructure is set
up to continue to leverage their private funding and that
the government departments are well resourced so they can make
the policy work on the arimas, on the funding and
financing aspects that they are set up to be the
welcome maps for New Zealand for international investments.

Speaker 2 (31:35):
Around the around the rules and structures. Are they moving
fast enough?

Speaker 17 (31:40):
There's a lot of work there are we are seeing progress.
It was great to see public works at changes introduced
which will be a game changer for those past Trek projects.

Speaker 2 (31:48):
Good stuff, Michelle, good to talk to. You appreciate it.
Michelle mcormick, who's with the Infrastructure New Zealand People Health.
As back as a basket case sort of scenario, these
days have been plenty of announcements, one hundred and sixty
four million just the other day for the after our
six hundred MANI of the farm mark. Of course, David
Willsness is Society National Directors. Whether it's David morning to.

Speaker 13 (32:04):
You, good morning cure.

Speaker 2 (32:06):
Are you full of hope and expectation or realism?

Speaker 9 (32:09):
Well, there is some expectation that there will be boosts
in some quarters. Governments sort of hinted at that, but
hopefully it's better than last time because the last budget,
although it claimed to deliver some increases, in reality there
was underfunding in real terms and services like to funer

(32:29):
or they need more funds. They have to if they're
going to deliver and meet targets. They need to have
adequate funding. Primary care is crying out for more funding
to ensure better access for services and to retain staff.
And you've got sectors like hospices that are struggling now
and despite the challenge and in fact because of the

(32:51):
challenges of the economic terms, because those areas depend very
much on donations and such likes. So really all courters
of the house stem the need real funding increases and
not just slip service.

Speaker 2 (33:03):
About is it funded. Well, of course it's funding, Yes,
it's funding, But is it funding over labor or labor
over funding or just give us everything.

Speaker 9 (33:12):
Well, in terms of staffing, you need funds to be
able to attract Britain and deliver. But services can't be
delivered unless there's an adequate level of funding. And historically,
historically we you know, we've got it in many respects.
We have a good health system, but it is one
that has been underfunded historically and particularly with recent economic

(33:39):
challenges really hurting and public want to see services. They
need to insist that there is adequate funding.

Speaker 2 (33:48):
Appreciate it. David Will's Nurses Society. It is ten minutes
past seven. For business, mixed bag has recovery slowly moves forward.
I mean I mentioned manufacturing improving services, not confidence fragile.
Katherine Rich's Business New Zealand Sea own She is with us.
Catherine morning to you, good morning. The big picture is
the government focused on business and cognizant of its role
in a recovery.

Speaker 10 (34:10):
Yes, it is, and I think that's why this is
a growth budget. Many of the announcements with regard to
business have already been made, But I haven't seen a
government in my lifetime that's so methodically looked through every
single facet of business and asked the question, what can
we do to make things easier? So the the firms,
the R and D tax credit, they're reviewing SBT, they're

(34:31):
improving immigration, foreign direct investment. It'd be good if there's
some kind of accelerated depreciation for plant and equipment. But
there have been a lot of announcements that make it
will contribute to a better business in this country.

Speaker 2 (34:45):
These talked about key we server changes. Are you going
to squeal at that or welcome that if they come
to pass.

Speaker 10 (34:51):
Look, I think most business owners understand that over a
period of time, we have to do more to help
the country save. If there's annnouncement on that today, very
much depends on how it's phased over time, because businesses
over time can factor it into wage negotiations and salaries,
but certainly there are some big picture issues like superannuation

(35:13):
and savings that need to be dealt with if we're
ever going to get back into a surplus.

Speaker 17 (35:20):
So today we're.

Speaker 10 (35:21):
Looking for a credible confidence building budget.

Speaker 2 (35:25):
I hope you're right, Catherine, appreciate it. Catherine rich Out
of Business in New Zealand, speaking which on the tax front,
we've got the seventy five million set aside for foreign investment,
the Golden Visa's money for movies and subsidies the other day,
but the tax treatment around the shares of employees at startups.
Tax partner at Deloitte, Robin Walker's with us, Robin morning
to you.

Speaker 18 (35:41):
Good morning.

Speaker 2 (35:42):
A lot of talk around key we Sabor. Do you
expect to move well?

Speaker 18 (35:46):
I think the Minister of Finance has indicated something. What
that is hard to tell. If I was to take
a punt at what it could be, it could be
something that the tax working recommended, which was to refund
the tax that comes off the employer contributions into KEI
we savor for low and middle income earners. That's what
I would pack as a change.

Speaker 2 (36:07):
So the four and four could be right.

Speaker 18 (36:11):
I'm not sure about the four and four. It could
stay three and three, but let's not tax the three
that the employer is putting in, and that will make
it that will make a difference to people's savings.

Speaker 2 (36:20):
Means testing does that help or hinder? I mean depends
on what you're looking at. It saves their money, but
it means testing a possibility and does that change the
game in any great way?

Speaker 18 (36:30):
Hard to say. I mean, it's really something where you've
got to look at as the compliance costs and all
the rigor that goes around means testing worth it? Possibly not.

Speaker 2 (36:41):
Do you see depreciation as a major play today.

Speaker 18 (36:45):
Well, it would be nice, but depreciation changes are actually
really expensive. Probably One of the things I'd say is,
I mean, this government likes to tweak around the edges.
What are things that are just annoying niggles that add
compliance costs reduce activity. So, you know, if they wanted
to do something simple round appreciation, you could look at
rules when you buy low value assets and make it

(37:07):
easier to just expense things. Currently, there's a whole heap
of complicated rules that say, you know, if I buy
a cheer that costs five hundred dollars, I can expense that.
But if I buy three cheers, I can't expense them.
I have to capitalize them if I buy them all together.
Things like that would be great to see those sorts
of rules.

Speaker 7 (37:24):
Tweet.

Speaker 2 (37:25):
Are they pulling every liver that you can see for
you know, pro growth, get this country off its knees?
Are they pulling everything they can?

Speaker 18 (37:33):
They're definitely having a good look. The problem that we
got is that tax changes through cost money as well,
So it's like finding that balance between how do you
fund it and what actually makes most difference.

Speaker 2 (37:47):
All right, Robin, appreciate it. Good luck today, Robin Walker,
tax partner at Deloitte. Stephen Joyce has done a bit
of this. The thing I'm looking for is when we
return to surplus and whether the forecasts up until now
from Treasury have turned out to be remotely true or
we're charting new gras. And that's before we get to
the debt servicing and of course any more debt that's coming.
Stephen Joyce for you in about fifteen twenty minutes time
fourteen past.

Speaker 1 (38:08):
The Hi Like Asking Breakfast full show podcast on iHeartRadio
powered by News Talks at b.

Speaker 2 (38:14):
News Talks have be just developing Nittnya who's claiming he's
probably his word not mine, probably killed Mohammed Sinhwa. This
came out of the attack last week that killed twenty
eight Palestinians wounded fifty, got a lot of people upset.
Obviously they targeted him or so they claim. He's the
brother of former Yaya Sinhwah, so so a new leader
but potentially dead. So we'll see where that goes. Back home.

(38:36):
If you ever want to see a story of how
to record place, try downtown Auckland. After one hundred and
forty five years. We got confirmation last night that Smith
and Coe's can't do it anymore. Economic hardship, CBD safety, roade, cones, homeless, parking, packing,
anyone you want. If you've ever seen a council try
to record joint, that's this is it. The store will
officially close by the end of July. Vibecka is the
heart of the city boss, of course, and she is

(38:57):
with us. Good morning to you, Good morning. Was it
always coming post the initial announcement or not?

Speaker 16 (39:05):
Well, we hoped they'd be able to get through to
the opening of the CRL and we have absolutely laid
it out clear as day to both Auckland Council and
on Auckland Transport what they needed to do to reduce
the barriers to get into the central city. And I
think the lack of action is inexcusable.

Speaker 2 (39:25):
I know you don't like me saying this, but I've
been to this. I go to the city, it's a dump.
I wouldn't go to Smith and che Why would it
bother with the homeless, the cones, the signs, the finds
that you can't get there. It's just ruined. It's wrecked.

Speaker 16 (39:39):
Well on the moment, obviously, that's that's a good call.
I mean, you know, the reality is, we know the
things that need to change. There are some fantastic things
here and we've just had thousands of people for the
Writers Festival, but there are fundamental flaws in the way
this is being managed and it has to stop. The

(40:00):
reality is has been an obsession with getting cars out.
We've already lost forty four percent of them since it's
twenty fifteen, and yet Auckland Transport seems to think finding
people in our nighttime district and Queen Street is acceptable.
The reality is the ideology has to be replaced by
common sense, economic viability, operational functionality and has to meet

(40:22):
Auckland as realistic transport needs. I've got a whole other
story to talk about another day about the safety and
what we're trying to get counsel to do on that.
Not just counsel, but there is more they can do,
and we determined to keep on that. But the reality
is we've got so much good stuff and it is
a positive future. The city rail link will make access easier,

(40:43):
but we cannot tolerate this behavior anymore. It has to stop.

Speaker 2 (40:47):
Well see but appreciate it back heart of the city.
Probably the toughest job in US eeled outside being the
Finance minister. But that's one hundred and forty five years
of history just done. And that's the Auckland Council for you.
That's how useless they are. Butter into butter. I am
more shortly seven twenty.

Speaker 1 (41:05):
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it by News Talk SIPP.

Speaker 2 (41:13):
Now, when you're looking to invest the old hard earned
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(41:34):
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Qywis helping keews basically, so that's got a ring to it.

Speaker 4 (41:44):
We like that.

Speaker 2 (41:44):
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(42:06):
heart Paskinging, Friday, seven twenty four. I hope you're following
the butter debate, specifically the cost co part of it.
Why because it's an insight into how the world works.
Especially the economic world, and why Nikola Willis and her
crusade to convince us supermarkets are ripping us off might
be wrong. Willis cited Costco the other day when she
once again reminded us after today's budget she's back to

(42:27):
the business on the supermarkets and looking to break them
up or twist their arms or regulate them where it hurts,
so we can all feel much better about the price
of a trolley full of goods. What she knew, she said,
Whilst competition is good for prices, as I tried to
say yesterday, that's school cerdy economics, and although partially right,
isn't the whole answer. Butter at cost Co is ten

(42:47):
bucks a kilo. Elsewhere you can pay ten bucks be
half that in that very example as part of the story.
It costs different amounts all over the place on any
given day, depending on where you go or when you go.
It's a bit like petrol. Also a bit like petrol.
The en price is driven not by oil but by
international pricing. We pay international prices because we make the

(43:08):
stuff and sell it. It's how we make a living.
We should be celebrating this if farmers weren't doing so
well we'd be truly stuffed. Costco because they're large, and
I mean huge, as in globally large. They buy more
of anything than anyone else does here locally. Because of that,
their price per unit drops. Their margins are smaller scale counts. Also,

(43:29):
and here's a major clue, as the Consumers people told
us yesterday, it's a lost leader for them. In other words,
they're losing money on every pack they sell. Why because
it gets you in the store to buy other stuff.
Remember also, at Costco, you've already paid a membership fee
for goodness sake to be there in the first place,
So their butter isn't really ten dollars a kilo. They're
eating the difference. As Trump would say in the Hope

(43:51):
You Buy Stuff in Il eight, Lots of supermarkets run
lost leaders as well all the time. They also put
chocolate biscuits at eye line to tempt you. It's very
clever business. But Costco and their butter is not a
real economic equation, and there is no magic in their
pricing the way Nikola seems to think there is. The
CBD has a bigger on every block. Mike, you said

(44:12):
it so well. As soon as they took all the
lanes away it was over. If this woman has a
clue mic about the reality, she'd resign. I don't think
it's her fault, too late to change it. I fear
that's the problem. Mike, you're wrong about Australian wine. Try
a drop of South Australian srasma, friend, That read leslie
South Australian serazz as a general rule is sugared up nonsense.

Speaker 13 (44:35):
That might be why I like it so much.

Speaker 2 (44:36):
It's sixteen percent alcohol. I mean, at the very top.
It's a very top end of Australian wine. Maybe you've
got a point, something like a Hill of Grace or
a Diana Madeline or something like that. But in general, anyway,
to the numbers themselves, do you know how much Australian
wine we as New Zealanders drink every year? On average?
Ten bottles? Ten bottles all near but we drink other

(44:58):
wine from Argentina and Chile in New Zealand, so that's
just ten Australian bottles. United Kingdom. On who drinks five,
the most popular is Pinfolds. In Denmark they drink fire bottles.
On everyone. The most popular as yellowtail. The people who
make yellowtails should be in jail if you've ever tasted.
In my humble opinion, even I am not going to
disagree with you that I mean yellowtail. You could run

(45:20):
a car on yellowtail, and yet the Danes go on.
We'll give me a little more, Rob Dart goodness say it.

Speaker 1 (45:28):
Is that that the pakistanis no We paid priotic New
Zealand for goodness sake.

Speaker 2 (45:33):
We make some of the best in the world meat, lamb, cheese,
wine get Amongst.

Speaker 1 (45:41):
New Zealand's voice of reason is Mike the Mic asking
Breakfast with Vida, Retirement, Communities, Life your Way News, togs
Head been Barbie.

Speaker 2 (45:51):
We hadn't been well. He was on the program, but
I was away, so that doesn't count. Card he was
last I last talked to him in twenty thirteen. Apply
my p of course. Anyway, they don't do many albums.
I've got a new album coming out as Off tomorrow,
so I thought we'll get Barnaby back on from something
a chat anyway, that's after right, meantime back here upside
of our economic story on budget day, if you grow something,
it seems you can do no wrong. At the moment,

(46:12):
primary sector has produced a billion dollar monthly trade surplus.
That's our highest ever dary the big winner up six
hundred and one million to two point two billion. Overall,
we sold seven point eight billion worth of goods. So
when you look at that nice relation, you think, man,
we must be rolling, which of course we're not. Stephen Joyce,
former finance minister, is with us. Stephen, good morning to you, morning,
Mike Cas. I'm well, thank you. Is this how economies work?

(46:34):
From your financial experience? In other words, at any given
point in time, somebody somewhere is doing well. Thank the
Good Lord for that.

Speaker 4 (46:42):
Yeah, well, you'd hope so, wouldn't you, because after tough
three years, it feels good to see somebody doing well.

Speaker 13 (46:49):
Now.

Speaker 4 (46:50):
I think I think what we're seeing is probably the
beginnings of an export lead recovery in the old term,
which is, you know, you've got domestically people out spending
a lot of money, so imports aren't coming in. But
fortunately for us, the world is buying us stuff and
it's not a subsidy, just a memo for the US President,

(47:10):
and you know, they want to buy more key for it,
they want to buy more dairy and that's a great
point in the cycle from our perspective. Because that will
help lead the recovery over the next year and a
year or two a head.

Speaker 2 (47:23):
What does it tell us if you were finance minister
looking at this when we did the zesbrig got people
before from one sixty million traes to two hundred and twenty.
It's all very well to grow the stuff, but to
sell it and sell it at a better price, somebody
somewhere is buying it. Therefore, all this talk of worried
times can't be that true. I mean, they're either spending
or they're not.

Speaker 4 (47:42):
And they are well, they are spending, which is great.
But the bit that'll be making people nervous still is
the potential for rapid policy change out of the US,
and that's the bit that will be giving people pause.
So normally, normally, you know, you get to the stage
of cycle. You're a kiwi fruit farmer or you're a
dairy farmer. You're investing in your future. But there's an

(48:05):
element of sitting there going okay, well, this is all good,
but what happens if the Americans do something weird, which
you'd have to give reasonable odds on. So that's the
bit that's making people cautious. And I think the finance
masters acknowledging that if it hadn't been for that sort
of level of uncertainty out of the US, then probably
our recovery would be a lot further along by now.

(48:28):
But people who have to make investment decisions, from farmers
to businesses to developers, they're all sitting there going, well,
I'll get ready, but I'm not quite certain that that
we're in a period of steady growth that's going to
give us the confidence.

Speaker 2 (48:44):
Slightly out of left field, but the ECB overnight said
they reckon. There's a fundamental shift going on in terms
of equities and bonds. In other words, people are looking
at America now and go, I've got better things to
do in better places to be, like Japan, maybe even Europe.
Do you think it's that profound or not?

Speaker 4 (48:58):
Really something very significant going on. The bond market is
unhappy with a lot of what's coming out of the US,
and we're about to head into a tussle, you know,
talk about our budget or the other big budget that's
going on in the world, much bigger than ours is
the US budget, and you know, they are sort of

(49:22):
playing chicken with the bond market at the moment. By
saying that they're going to increase the size of what
is an already large deficit one hundred percent of GDP
in the US, costing them a lot to service it.
And they are and you know, they're threatening to pass
a budget that would be expansionary and increase debt, and
the bond market's going I don't think so. And you

(49:42):
still movies come down on Friday. So that's the bit
I think is where it's probable that the Trump is
going to come up against another moment where he has
to back track. But if he doesn't backtrack, then definitely
we're going to see continued moves away from US dollar
assets into other assets. The trouble for the world is,

(50:03):
you know, that's a big shift and there's not as
many other places to go as you'd like, but you
know that people will move, Yes, they.

Speaker 2 (50:09):
Will back home. Is she so constrained today that it's
a little here and a little there, or could she
do something profound?

Speaker 4 (50:20):
It's very difficult to do something profound when you don't
have any dough and I think that's going to make
it constraining. I suspect what we'll see is significant savings
and that'll make some people grumpy, as we've already seen.
But actually I think overall the country will be going well, yeah,
we had to do something, so even if you don't

(50:42):
like it, you accept it. I think there will be
further spending, there will be further borroing. I know that
you're keen on no further borring, but I think it's
about bending the curve down and they need to show
that they can bend the curve down. But within that
there's not going to be a huge amount of room.
I think what could be the thing that you know,
and it has been starting to be flagged around the place,

(51:03):
is something to give a business confidence. Business is confidence,
particularly small businesses, and now people are talking about tax
breaks and things, and maybe there will be something there
because you do need something to kick start that New
Zealand small business is still straggling, yes, and there are
a lot of businesses are sort of waiting for the
upturn and some hanging on by the sort of tips

(51:26):
of their fingernails. So I think they'll be looking for
something there just to show that the government understands and
is going to encourage them to invest, because business investment
in this country has been low in the last couple
of years, and you can't increase productivity, you can't increase
growth if you're not investing.

Speaker 2 (51:43):
What level of importance would you place a figure that goes,
we will return to an annual surplus by X, and
the X is not twenty thirty something.

Speaker 4 (51:54):
Well, you've got to get Yeah, you've got to show
a part down and path back the surface. And then
people will debate whether whether it's soon enough or not.
And there'll be the hawks that's it should happened much
faster and so on, and there'll be the doves that say, oh,
you know, you should be borrowing and getting us through this.
But they are the same people that said that through
all the way through COVID and look where that got us.

(52:15):
But I think I think people will want it. You know,
the banks and the markets will want to see a
trend down in the latter stages of the four years.
They want to see an improving situation on the four
year projections.

Speaker 2 (52:28):
Okay, the politics you alluded to going into election year
next year, how much political capital can they burn to
go in and say it's still hard, it's still difficult. Yes,
we still get it. The better times are ahead. But
we've said this for three years, give us another three
In other words, is there enough or are there enough
New Zealanders who get it?

Speaker 4 (52:51):
I think there's thin there's a lot of people that
get it. I think obviously in a political sense, the
economy is really starting to grow and there's there's lots
of data points and are feeling better. That would that
would make the next election easier for the government. What
we don't know though, is whether the whether things will
conspire in that way. I think there was it was
highly likely that was going to occur with the work

(53:13):
they were doing before the new Trump presidency started and
we had Liberation Day and all that sort of stuff.
Now I think that will receive in importance, it will
just become a lot of noise because what's the way
they're describing them Taco Trump Trump always chickens out as
the way they're talking about them in the financial markets.

(53:33):
So maybe by then or maybe you know, later this year,
people will sort of be parking all of that and
getting on with life, which would then increase the political
chances for the government. But always at the end of
the first three years you were saying it's a work
in progress, Because it is, it has to be after
a big probably a series of problems like we've got
now or we had when this government came in. You know,

(53:56):
the idea that you'll fix them within three years is
a bit fanciful. But if you can say we've made
some progress and here is the progress, then you've probably
back yourselves to be re elected.

Speaker 2 (54:07):
Good stuff. Always good to talk to you. Stephen Joyce,
former Finance Minister. Of Course. Coverage on z B at
two o'clock this afternoon, seven forty five.

Speaker 1 (54:16):
The Mike Asking Breakfast Full Show podcast on iHeartRadio, powered
by News Talks B.

Speaker 2 (54:22):
I'm twelve away from Ademon and Mike listening to you
in Italy right now. Whilst we've enjoyed wide ranging tour
of Italy, we've been surprisingly disappointed by so many rundown areas.
Something that's missing. Perhaps prior tourism hangs on repolishing old history. Michael,
very good point. That's just referring back to Stanley Tucci
when we're talking to Rome, talking to Joe and Rome
earlier on Mike. You're always going on about free trade markets.

(54:43):
So Qui's buying Australian wine shows your free markets working.
Terry's very good points for your point. I'm not arguing
against free markets. I mean the ability of a free
market to get Australian wine into our market should be
you know, it shouldn't jacked up. You shouldn't jerry mander.
It shouldn't add to the price, same for US as
access to Australia. But why are you talking about quality price?
I like quality. I'd rather drink less and pay more. Personally, Mike,

(55:05):
how would you know about the quality of wines these days?
And you don't drink, which is impacting our fine wine industry.
Shame on you drink up. Yeah, shouldn't say stuff like
that to people like me. Triggers me. By the way,
the Financial Market Authority what a fantastic place to work.
I wish I worked there. They are introducing a daily

(55:27):
survey for all their people. It's the Weekly Activity Survey,
the Weekly Work Tracking Survey. It's running between twelfth and
May and sixth of June, so it's on right now.
I hope if you're listening from the FMA, I'm not
interrupting you filling out your survey at the present point
in time. The survey is compulsory, of course, it is.
It's compulsory twenty one questions every day, every single day,

(55:57):
you got to answer twenty one questions worth Ah, there's more,
an extra three questions at the end of the week. Yeah,
got your daily worklog, asks about ours, work tasks completed,
how long each task took, names and durations of internal
and external meetings. You asked how many days you had off,
how many were worked in the office, whether they had
as signed off deviation to the three to two work

(56:20):
from home requirement in of each week. Also asked about
how management or manageable your workload was, and whether any
tasks could have been completed more efficiently. How many people
answering that question would go, I could complete my task
more efficiently if you weren't asking me every bloody day
to fill in a stupid survey.

Speaker 13 (56:35):
Yeah. I mean that's a heap to your productivity, right there,
isn't it?

Speaker 2 (56:38):
Honestly? Financial Markets Authority twenty one questions every single day
for weeks on shoot me now ten away from.

Speaker 1 (56:47):
Eight the Mike asking breakfast with a Vita retirement, Communities
news talks had.

Speaker 2 (56:53):
Given away from die straight of our infrastructure is being
laid bare just north of Auckland at the moment. Bunch
of oyster farms you probably read, have been closed because
of neuro virus raw sewage, which was once only found
in the harbor when the weather had you know, like
really been shocking. Now basically it happens every time it rains,
and the council in the water Care know about it
just doesn't stop picking. You know, it hasn't done anything
to stop people going out of business now. Tom Walters

(57:14):
is the owner of Madican Roysters and as with us, Tom,
morning to you, Good morning Mike.

Speaker 4 (57:19):
Having me on not at all.

Speaker 2 (57:20):
So you're basically just a small sample of a wide
and neglect and a lack of planning and all the
other stuff that's gone wrong with this country.

Speaker 19 (57:27):
Pretty much. The only little bit of an anomaly here is
that we produce food and the waterways that this is
happening too.

Speaker 2 (57:34):
Well, will you be back? Do you think is there's
something happening when water care going. We're very sorry and
something will happen by twenty twenty eight. Will you be
around in twenty twenty.

Speaker 19 (57:43):
Eight at this current stage, probably not. There could be
some temporary measures that we've been begging them to put
in place for the last three years. That could come
in the a few months time, maybe four or five
months time, but it's a bit little too late for us,
and even then that might just be slapping band aid

(58:05):
in the situation that might not be able to really
mitigate the effects because the volumes have got so out
of control in the last couple of years, especially this year.

Speaker 2 (58:14):
When they say they're sorry for you, do you think
they really care or not?

Speaker 19 (58:17):
No, not at all. The word sympathy is used. It's
never been sorry. There's no accountability. There's no compensation for
the fact that the growth of the area and development
that water Care and the council have profited from have
turned our well, have costed our farms, our livelihoods and
the environment from that. You know, there's no accountability whatsoever.

(58:42):
The stories don't matter. We can't pay our bills, we
can't feed our kids, and we're looking at the end
of the line here.

Speaker 2 (58:50):
It's a funny thing as I read your social media
stup over the weekend, because I'm sort of local up
in that area, and you were talking about accountability or
lack of it. I mean, in America, there'd be some
sort of class action, wouldn't they. I mean, these people
are responsible for what they do. They haven't done it.
You're suffering because of it, and really someone should pay absolutely.

Speaker 19 (59:08):
I mean the way that they can get away with
it was very careful manipulations of discharge consents. The class
A river that people swim, fish, kayak Catibald playing as
low recreational use and very low public health risk. It's
very very criminal in my opinion, and in all honesty,

(59:30):
you've got ye, you've just got such a terrible, terrible
situation where people haven't been told. The public haven't been
told until this week a few signs went out on
the wharf that there is such a healthhadd that's incredibly dangerous.
Nora virus is what we find when we do our testing.
It's an incredibly dangerous pathogen.

Speaker 2 (59:51):
Yeah, all I can do is wish you well. Tom.
I feel for you, Tom Balters. He's one of many
oyster farmers in that particular. It's just north of Auckland.
The upside is the areas Boom area. People are moving
there for very obvious reasons. Uh, the infrastructure hasn't kept
up and the whole thing so cluster. Now Barnabie Weir
is going to be with us from New Plymouth. Is

(01:00:12):
that right? You were supposed to be here, but he
said no, I'm going to New Plymouth. So that's where
he is. But it doesn't really matter because he'll be
on the program in just a couple of months for
Song and Chatter.

Speaker 1 (01:00:21):
Mike hoskame insightful, engaging and vital. The Mic Hosking Breakfast
with the range Rover. The law designed to intrigue can
use togs head by.

Speaker 2 (01:00:35):
Don't you know that is rolling in?

Speaker 12 (01:00:38):
You better bat down Peties before when you as go,
you gotta get south together.

Speaker 2 (01:00:53):
You've before going a seven past eight. One of the
New Zealand's most influential groups back after five years plus.
I'm Pretties, formed in two thousand and four, Can You
Leave It? Brought musicians together from a lot of well
known Kubi bands to record live albums tomorrow. Their seventh album,
Elemental drops. While the group is a host of people involved,
the co founder leader musical director Barnaby Weir, front man

(01:01:14):
for the Black SuDS, of course, has been involved since
the very start and he's well as Barnaby morning.

Speaker 20 (01:01:20):
Yeah, good morning, Mike, Good morning New Zealand.

Speaker 2 (01:01:22):
Now, last time we talked was twenty thirteen, So that
was twelve years ago. Yeah, you're a man, You're a
man on the rise. What happened.

Speaker 20 (01:01:33):
Well, twenty thirteen, I think the Black Seeds were getting
pretty busy. We're about to do a lot more overseas
during at that time, and Fly My Pritties would have
done had done a story our third album and twenty
ten and we're probably working on the next one then here.
But it seems like an age ago.

Speaker 2 (01:01:48):
Wow, fly My Pretty is what you thought they would.

Speaker 20 (01:01:52):
Be, Fly My Prittece as it was just been growing
and bubbling away and swimmering away in its its own
way at the start out of the projects in two
thousand and four. You know, the idea is still there,
that the main concept is still still operating in that way,
a collaboration of unlikely people together with different stories to
tell through music. So yeah, I mean, it's it's growing,

(01:02:14):
it's different to how I would have imagined it. It's
had longevity, which has been great.

Speaker 2 (01:02:18):
Exactly will it go forever? Potentially?

Speaker 20 (01:02:21):
I hope that there's still a lot of you know,
more legs in it. This new album is really strong
and and you know, in the future I might might
not be on the stage. It might be just more
of a mental kind of character involved with it. But
the concept can just you know.

Speaker 2 (01:02:36):
Continue ill come to the detail because it was done,
but sort of you can explain massive university and the
facilities there and some of the students that were helping
you out and all of that sort of stuff. But
but but what I'm fascinated most about is as a group,
you get a sound, you get a vibe, there's a
there's a sense of whatever it is you know that
you're about. But what you've done with Fly my provice

(01:02:56):
it changes every time? Is that creatively complex or difficult?

Speaker 7 (01:03:02):
Yeah?

Speaker 20 (01:03:02):
So you know, the core band create that kind of
consistency in the music, and so some of those people
are like Joony Murphy on drums or either Fucking More
on drums, or Nigel Pedison from the Black Seeds on keys,
or write people on guitar. Those people keep that core
consistency of the sounds. And then you know, the guest
singer or songwriter comes in and in matches with that.

(01:03:24):
We you know, we put them on top of that
and it can be it's kind of simple and complicated,
like you've got to get it right but you let
the lead singer songwriter be themselves, you know, and tell
their story using that plummer pretty's core sound.

Speaker 2 (01:03:38):
How do you deal with egos? Have there been egos
over the years or not?

Speaker 20 (01:03:42):
Not? Not really, not really too many egos? You know,
people can you know? Because this everyone's a special guest
and so everyone's on the same wicket as we're.

Speaker 2 (01:03:56):
Not not too Do you invite them? Do you invite
them as a fan of what they're doing, or do
you invite them as a truly creative expression that you
might go, yeah, it's not really my cup of tea,
but let's bring them along and see what they do.

Speaker 20 (01:04:10):
Yeah, sometimes a bit of both. Often often it's because
you've just discovered them and we're looking for new people
that are outside of what I already know, and so
we're selecting based on the you know, their songwriting skills.
And sometimes you're like, hey, well that that tone that
they recorded wasn't how i'd do it, So let's do
it the way I'd like to do it, but using
that beautiful talent in storytelling.

Speaker 2 (01:04:30):
And so from those twenty one years, we're talking about
this is your seventh album, so it's won every three years.
How does it? Who calls who? And when you go,
oh it's been three years ish or I feel the vibe?
How does that unfold?

Speaker 20 (01:04:42):
Yeah? Yeah, this particular one took a little bit longer.
You know, you had you had the COVID thing debacle
and all those kind of things hitting always heads of
my own children were born, and it was a bit
slower on this one. Luke and Mike Yetl co producer
and founder of Luke Recordings, I work with closely in
their team, so they're always planning in the background. You know,

(01:05:03):
when's a good time to do it, and then you
have to have the people and you have to be available,
have them available, and you have to get some ideas.
So all those things do have to come together for
it to work.

Speaker 1 (01:05:12):
There.

Speaker 2 (01:05:13):
Okay, tell me about Massy. So I wasn't cognizant of
Massy having such a facility and why you use it,
how you used what it provided and all the students
have helped out because this is brilliant.

Speaker 20 (01:05:24):
It is brilliant and in a great kind of extension
of the collaboration process for Flyma pretty so Massy Music
School there is a state of the art, world class
facility with you know, a big orchestral studio, kind of
bigger than Abbey Roads, you style. You can do a
lot of things in there. They've got the TV production

(01:05:45):
crew as well is really onto it music production school
and producing school as well as some just beautiful equipment
vintage and digital. So it's a real joy to go there.
A big, comfortable space and we really utilized all the
all the facilities, including the Great Hall which was the

(01:06:05):
old museum in Wellington and there's now the Great Hall,
you know, and we use their massive, massive led screen
which is probably the biggest and most high death in
the Southern hemisphere, I believe so. And we used you know,
we went with and used the students help as part
of their courses and outside of their courses, so we

(01:06:27):
we literally recorded and filmed the shows. Its sent directly
back to the music studios through the desk onto hard drives.
A lot of people involved in that and the video
into a control room.

Speaker 4 (01:06:38):
You know.

Speaker 20 (01:06:38):
It was like it was like a like a big
kind of TV production for for three nights the students.

Speaker 2 (01:06:45):
I mean, are you so cool that the students knew
who you all you guys were or no?

Speaker 20 (01:06:50):
I think I think the students were aware, and then
obviously we're seeing who wants to get involved in a
professional level or volunteer at their time. I'm not sure
how well known we are, but you know, we became
kind of well known when people, you know, we're hearing
that that was happening.

Speaker 2 (01:07:04):
Yeah, but what an amazing thing if you're studying and
the real deal and and you're a bit of a
legend and all that stuff, and suddenly you're there and
you are part of a real project. It's not like
universe theory. It's real.

Speaker 20 (01:07:16):
That's right, Yeah, I reckon, it's really it's a really cool, yeah,
really cool extension of the collaboration process. And we've never
done anything like that before. It was well well brought through,
and we're you know, we're bloody lucky actually to be
able to you know, get you know, bro deals and
use all their facilities and equipment and.

Speaker 2 (01:07:32):
People and the whole thing you're telling me, is this true?
I can understand recorded in a week, but the whole
thing was written, done dusted in our week.

Speaker 7 (01:07:44):
Yes.

Speaker 20 (01:07:44):
Well, you know, the singers would have been songwriters, would
have had these songs that they might have had them
for a couple of years or they might have just
made them. You know, the write increase process was longer,
but the actual putting together of the show was basically
a week in terms of the you know, in terms
of the recordings and the visual side of it in
the stage performance.

Speaker 7 (01:08:05):
Yes, it was.

Speaker 20 (01:08:06):
It's a very quick and intense.

Speaker 4 (01:08:08):
Turnaround, fantastic.

Speaker 2 (01:08:10):
What do you do the rest of the time.

Speaker 20 (01:08:13):
A lot of parenting and scheming and writing, writing songs
and you know, working with the Black Seeds a lot,
and you know, thinking about the future of what plans
have been put together in the musical world.

Speaker 2 (01:08:26):
Give me the price as a seasoned player in this industry,
give me a current scenario of the New Zealand music
scene as you see it.

Speaker 20 (01:08:35):
Oh well, it's quite hard to express that. As as
an older person who's been doing my thing, which is
necessarily the most modern sounding music. I see it as
quite a healthy industry. Lots of young talent coming through,
lots of new music all the time, which is quite
hard to listen to it all. I mean, I don't
know who we can actually listen to it all, but

(01:08:56):
there's some exciting talent that I think that's coming through,
and it all rise to the top, and hopefully people
have longevity in their interest in music, not just a
single here and then that's for you later. And so
I hope that people you know, stick with it and
I think the good stuff will always rise to the top.

Speaker 2 (01:09:13):
Fantastic, all right, So the album tomorrow Elemental. You've got
a couple of shows. I'll give the details on that.
Is everyone going to the shows? By the way, is
it like a cost one thousands?

Speaker 20 (01:09:22):
Yes, yes, everyone's going to the shows that's on the album.
So we're literally directly doing that same show. It'll be
slightly different here and there, and but this time we're
not needing to record it or anything like that, so
that pressures off. It's just about expressing it now.

Speaker 2 (01:09:38):
Brilliant, and you've recorded something exclusive for us. What is it?
Because I'll go to the air break and we'll play
it after the break. What is it?

Speaker 20 (01:09:46):
Yeah? Sure, So it's a song called Face the Sun,
which my good friend in compadre and co producer, Lawton
Corter wrote with me and mind. Actually it was actually
a gift. A song was a gift, which is a
great gift to get. He made me a co rider
and he said this is you know this is suit
to you. It's it's it's kind of it's about morality
really in facing facing that. Not that you know, we

(01:10:08):
all face that. But I don't think I see myself
as an old old gentlemen. But imagine, imagine Bond John
Jovi on on Horseback, you know, telling you about his
thoughts on morality.

Speaker 2 (01:10:20):
Yeah, okay, fantastic And you recorded that for us. Did
you get in one take or not?

Speaker 20 (01:10:26):
And I did it yesterday. It's just me and a guitar.
It's it's an exclusive track for you might because it's
not people haven't heard it ever. Wow, from two at
three shows. There are only five hundred people in October
last year, so it's an exclusive you. It's just me
and a guitar. Yet it took a few takes.

Speaker 2 (01:10:42):
Good on you, mate, well done lovely to catch up.
We'll see you in thirteen years or eleven or twelve. Actually,
let's make it sooner than that. Barnaby, Weir Fly My Pretties.
The album Elemental out tomorrow. I'll give you the show
details in a moment and the song shortly seventeen past the.

Speaker 1 (01:10:56):
Mike Hosking Breakfast Full Show podcast on Radio how It
by news Talks.

Speaker 2 (01:11:02):
It be news Talks. It'll be twenty minutes past eight
Elementals the album It's out tomorrow, fly My Produced They're
coming the end of May May thirty Q Theater, Auckland,
thirty one Q Theater, Auckland, June fourteenth at the Isaac Royal,
The Beautiful Isaac in christ Church. The song Face the Sun.

Speaker 14 (01:11:35):
Don't call me a good name. Too many wrongs that
I done. When the clock starts fall and I'll be
calling his name right in the sun. I can tell
your word wisdom, anything that I've wander But I'm feeling

(01:11:55):
much older. I just want my last days in the sun.
The knights are getting colder. I just warm my lost
days in the sun, feeling my childer. I just wall
into my lost days in the sun. Yeah, the knights

(01:12:38):
are getting colder, lost days in the sun, feeling my childer,
love my lost days into the sun. The knights are
getting colder. I just fall and love my last days
into the sun. So don't call me here good man

(01:13:03):
too men and wrongs that I've done. When the clock
starts falling, I'll be calling you name right into the sun.
I can tell you word to wisdom and the things
that I've undered. Feeling much older, I just fall in
my last days in.

Speaker 2 (01:13:23):
In the sun.

Speaker 14 (01:13:25):
The nights I get in colder, I just wall in
my last days in the sun, nights to getting colder.
I just want to live my last days in.

Speaker 15 (01:13:36):
In the sun.

Speaker 2 (01:13:44):
There you go, just for us, and that nice. We'll
get them on again once again. My thirty Q Theater,
My thirty one Q Theater, fourteen June, Isaac Royal Fly
my prettiest album out tomorrow A twenty.

Speaker 1 (01:13:57):
Three, The mic Hosking Breakfast with the Range, Rover Villa
News Togs Dead b.

Speaker 2 (01:14:03):
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bloody awesome music, Mike, great song, love it brilliant. Yes,
you enjoy a bit of fly my Pretties and Barnaby ware. Mikey,

(01:15:07):
you're following the Penske scandal at Indy Cars. Yes, I
am more. Shortly after Rodd who is next for the news?
Shortly here at News Talks.

Speaker 1 (01:15:16):
Edwy News Opinion and everything in between. The mic Hosking
Breakfast with Bailey's real Estate, your local experts across residential,
commercial and rural news talks dead.

Speaker 2 (01:15:28):
B now the jobless from the International Monetary Fund. It's
been painted as being negative. I'm not sure it's negative
because their number they've come out with overnight is our
unemployment rate will peak at five point three. Is that
bad well from their perspective, yes, because in the OECD
there's not a lot of people who are higher than
five point three, so we're one of the worst in
the OECD. Upside, it could have been six. Wasn't that

(01:15:50):
long ago that number of forecasters, including banks, he were
saying possibly six. Then they went down to about five
point five, so we seemed at five point one currently.
So if five point three is the peak and they're right,
we've got a bit more to go. It'll be interesting
to see what they say in the budget tomorrow. But
it's it's coming. My point being, it's the last laggard

(01:16:12):
in that long list of stuff that needs to come
right before we all come right. So if it's the
last lagged at five point three, we're not far off
the worst, So that's the upside of it. Twenty two
minutes away from.

Speaker 1 (01:16:24):
Nine International correspondence with ends Inneye Insurance Peace of mind
for New Zealand Business.

Speaker 4 (01:16:30):
Super we go rod little very good money, make good,
make mate.

Speaker 2 (01:16:34):
So the UK deal. Let me come to that in
just a couple of moments, just real quick. On the
starmer U turn. As regards heating payments. One, how's he
paying for it?

Speaker 14 (01:16:44):
Two?

Speaker 2 (01:16:45):
How embarrassing is it?

Speaker 7 (01:16:48):
It's embarrassing, But it's he preceivably believes that there's enough
political capital behind it to assuage that that that embarrassment.
The trouble is, I don't think he's right. You see,
I think that I think the problem came in scrapping

(01:17:09):
the winter fuel payments for pensioners. I don't think that
is redressed by putting back the winter fuel payments for pensioners,
because that deed has been done and they've settled in
the public mind this idea that this was a government
which didn't really care about the elderly, which cared about
its client groups. And so I think it's he undoubtedly

(01:17:33):
will have swayed a lot of opinion on the backbenches
of the Labor Party, but more than that, whyer than not,
I'm not so sure.

Speaker 2 (01:17:39):
All right, when we last talked, we had this this
so called historic deal, post bricks at all of that,
How much more do we know around the specifics like
how much are you guys going to pay, how many
people are going to benefit with the youth visa, all
of those sort of questions.

Speaker 7 (01:17:53):
Yes, we don't know any of that made I'm afraid
and this is a problem. You see, I was reasonably
tomistic going into this deal, thinking that you know, brexfit
in the past. We do need a new relationship with Europe.
We do need to build bridges, and there is this
common area of defense, which is where there may have
been some progress with a Sevanalayan between the two of us.

(01:18:19):
But it looks as if he's bought a bum deal.
He has been out negotiated, which is unusual because he's
been pretty good at this sort of thing previously. The
capitulation on fishing, which means that for twelve years, twelve
years he thought it was only four French fishermen could

(01:18:41):
into every last fish which lifts within any radius of
our slaws is a real blow to the fishing industry
and also a problem for conservation incidentally as well. So
that is a problem. There is a growing problem with
the idea of the use visas. I don't think it's

(01:19:02):
as much a problem as someone the right to who
say that it will mean the lowering of wages for
people in this country. I'm not so sure it's like that,
but he clearly brought above deal, particularly with regard to fishing.

Speaker 6 (01:19:16):
Yeah.

Speaker 2 (01:19:16):
I read a very good article the other day about
a bunch of questions that weren't answered. Wing and British
travelers use e gates. Will it be easy for British
bands to tour? Will UK qualifications be recognized in the EU?
They do? They have those answers and they just haven't
told them, or even they don't know the answer to
the questions.

Speaker 7 (01:19:33):
I don't think they know the answers. We are moving
towards that though. You know, when Brexit happened, I was
terribly worried about the various science projects which we had
supernationally across Europe, and they got sorted out fairly quickly,
as needs must. So the Euratom treaty and stuff like

(01:19:56):
that that it kind of got sorted out quite quickly.
I don't I think those things are the problem. I
think the headline problems for sekir Starma are fishing, which
is a very you know, telegenic protest. When they go
about their stuff and I think possibly stored up to

(01:20:16):
used visus stuff.

Speaker 2 (01:20:17):
Okay, give us a word on Lucy Connolly. Where does
this go? I mean where she at in the judicial process.
To remind us, she's the counselor's wife, and she went
a bit crazy on social media and she's been banged
up and appealing, so she's lost her latest bid. But
where are we at legally with this?

Speaker 7 (01:20:33):
Well, legally that's her done unless she appeals to the
European Court of Justice, which I doubt very much. It's
very simple. She was sentenced to thirty one months in
prison for having tweeted something truly unpleasant about the cydum
seekers coming here. You know, you cannot argue that we

(01:20:54):
have freedom of speech if you get shoved up in
prison for people say horrible things. But she got thirty
one months, and you know, people have not been slow
to realize that this is more than people who are
tipped out in domestic violence, drug runners, stabbers, the whole lot.

(01:21:16):
So it is being a scene as a political offense.
And Boris Johnson has said, we are living in a
police state.

Speaker 2 (01:21:23):
Rodrick, you have a very good weekend. We'll catch up
next Tuesday. Just before we leave that part of the world.
That EU's planning a two euro fee on all small parcels,
and that's going to smack Shine and Tim big time.
Two euro flat fee all the small parcels that come
in on anything less than one hundred and fifty euros,
so maybe two seventy to eighty dollars. How many of

(01:21:47):
these parcels come into the EU each year? Ninety percent
of them, clue, ninety percent come from China. How many
parcels you're to come in the EU each year at
two euros a pop? Four zero point six billion, seventeen
to two The.

Speaker 1 (01:22:03):
Like Asking Breakfast Full Show podcast on iHeartRadio powered by
News Talks.

Speaker 2 (01:22:08):
At B thirteen and one from nine my peak unemployment.
Check out the US thirty year bonds today. Cost of
long term debt is going up. It's one of a
approaching to the converted. You have been saying it in
very interesting comments. I thought from Stephen Joyce earlier on
this Morning ECB. We started the show with this morning
European Central Bank. They think something fundamental is going on
and the world is starting to bail from America. And

(01:22:30):
so if you look at the aforementioned thirty year bonds.
They're at five oh nine six this morning. For the
past two decades, at least, anything close to five and
beyond five, you don't go because that's just what America is.
Nothing beyond five, because America's call now, it's not ten
years this morning at four point five, nine to five,

(01:22:50):
are nothing beyond four point five. Suddenly the whole thing's changing.
They don't believe increasingly in America anymore. And that's profound.
Believe me, it's profound. You look at the world's debt
and you look at the belief in America and your
buy American bonds in equities and all that sort of
stuff that's changing and shifting. Mikey, you're following Penske, Yes, Penske.
If you're not following, is worth following because Scott McLaughlin

(01:23:12):
is part of Penske. He's not in this particular set
of circumstances in specific trouble, but he's in the wrong
team for it. So they've got illegally modified attenuators. Attenuators
are things in the car that help you in an accident.
So far today they've gone and fired. They were ping,
they were caught. Joseph Newgardens. One of the drivers will

(01:23:33):
powers the other. They're going to start the race the
Indy five hundred next week thirty second to thirty third.
Suspension of the strategists for both cars finds of one
hundred thousand dollars for each entry forfeiting of all qualifying
points and losing their position selection. So this is a disaster.
They're cheats and they've been caught. They fired the president,
the general manager, and the managing director, Graham Ray ray Haul,

(01:23:58):
the ray Hall name is famous in India. He goes,
this is a pattern. I don't say this alone, and
I'll say this for every other owner, and I'll say
this for every other driver. There's a pattern. They did
it last year, they got caught. They did it again
this year push to pass. I won't explain the detail,
but last year pushed to pass was a scandal as well.
They did it again this year. They got caught. But

(01:24:19):
apparently if you look back at the photos from last
year's race winning car, it had the same modification, so
it was illegal. That's a concern, right, there's a pattern
to this. So unfortunately Scott's caught up in a team
that is and Penske Roger Penske team owner. He's a legend.
Of course, they got a lot of trouble. It's an

(01:24:40):
ugly scene and there's no hiding from it. I'm for
eight ten minutes away from nine.

Speaker 1 (01:24:44):
The Mike Hosking Breakfast with Bailey's Real Estate news Dogs Deadby.

Speaker 2 (01:24:49):
I suggest a little piece of reading if you've got
the time and the interest today. It's a very nice
piece from Tom Scott, I think needs no introduction. And
he writes about Sir Bob Jones, who's memorials as being
held today, and he goes, I detested Bob Jones for
many years, so his opening line, I detested Bob Jones
for many years. My loathing had its genesis in the
run up to the seventy five election, when Bob was

(01:25:10):
the brains and financial brawn behind Billboard's mushroomom across the Capitol,
depicting Labour's leader Bill Rowling. It was a malicious propaganda
campaign that contributed hugely to the landslide victory of National's course.
Unfailingly belligerent Rob Muldoon, Bob's oldest sister Pat and her husband,
the political cartoonist Bob Brocky, through lavish parties in the
elegant home in Wadstown in the Hills. At these soirees,

(01:25:34):
Bob would take me aside and sing his brother in
law's praise as insisting I would like him if I
met him, and so it proved to be. In nineteen
seventy nine, at a cartoon exhibition held in the foyer
of a tower block on Plymber Steps that I now
suspect Bob owned and lent to the organizer's rent free,
he said when he saw me, you're losing your hair,
old man, and your fat. We got on famously after that,

(01:25:55):
and I was often invited to Friday afternoon drinks and
his company officers on Lower Lampton Key. If you ran
into Bob on Lampton Key around lunchtime, hungry or not,
he would drag you off for more listening at Asian
restaurants tucked down backstreets and up narrow flights of stairs.
Striding ahead, he would loudly scold pedestrians for wearing sunglasses
on the top of their heads, or for wearing baseball

(01:26:17):
caps back to front, and he sort of goes on
tells a whole bunch of stories about Bob, most of
which are funny and he's a brilliant man, Bob Jones,
as indeed as Tom Scott. But he concludes with us
Bob's death, while a shock, was not entirely unexpected. For
most of his life, he burnt millions of candles at
both ends, and there was no one else like him,
and there never will be anyone like him again, proof

(01:26:37):
if anyone needed that God doesn't make the same mistake twice.
So his allegends of Bob Jones. The memorial service today
six away from nine.

Speaker 1 (01:26:48):
Trending now with chemist Warehouse mayhem megasl on now.

Speaker 2 (01:26:52):
Now if you want to go on the socials, if
you don't want to read Tom Scott. That's by the
way in the newsroom site that Tom's written that Ice
Barbie is trending. It's the nickname of Homeland Security Secretary
Christy Nome. She was schooled or was she? I'll come
back to that on constitutional understanding in the House. So

(01:27:14):
Nome was being questioned by the Senator Maggie Hessen, who
is of course a Democrat, when she asked what habes
corpus is, So.

Speaker 21 (01:27:20):
Secretary nom, what is habeas corpus?

Speaker 22 (01:27:24):
Well, habeas corpus is a constitutional right that the president
has to be able to remove people from this country.
Let's spend their right.

Speaker 21 (01:27:31):
Let me let me stop spend the Habeas corpus. Excuse me,
that's that's incorrect. Presidentbeas corpus, excuse me. Habeas corpus is
the legal principle that requires that the government provide a
public reason for detaining and imprisoning people.

Speaker 22 (01:27:48):
Yeah, I support Habeas corpus. I also recognize that the
President of the United States has the authority under the
Constitution to decide if it should be suspended or not.

Speaker 21 (01:27:56):
It has never let us be clear, it has never
been done. It is never done without approval of Congress.
Even Abraham Lincoln got retroactive approval from Congress.

Speaker 2 (01:28:06):
So the Democrat is technically correct. But once again, I'll
come back to it. The pylon begins on social media.
CHRISTI name just confused. Habeas corpus the right to challenge
unlawful the tension with deportation powers. This isn't just a
slip up. It's a governor who can't define basic constitutional
rights and wants to wheel power without understanding it. No
one says she has no effing clue what habeas corpus
means we are living in the dumbest of times. That

(01:28:27):
part may well be true as well. Here's the counter argument,
and this goes into things like, I mean any number
of court cases, but also the plane which he officially
allegedly accepted. Today, the Assistant secretary, a woman called Tricia McLaughlin,
says that Nome was in fact right. Presidents have suspended

(01:28:47):
habeas corpus because this came out of last weekend. One
of the Trump officials said they're seriously looking at suspending
habeas corpus. How do you do this? And they claim
it has been done by Lincoln, grantdr and indeed bush
All during moments of crisis. Technically, Congress holds that power
under the Constitution, but in reality presidents have acted first

(01:29:11):
and legal authority has followed. The precedent is real. So
this is how Trump operates. What he does is I'm
going to do this. You do something about me not
doing it, and so he's arguing this is where he's
running up all these for example, Venezuelan's and he's going,
let's send him out. Now. Yes they go to court,
and yes, judge's rule, but they're already gone. What are

(01:29:32):
they going to do about it? Nothing at the end
of the day. And that's the problem, because he argues,
this is a crisis. This is an emergency, whether it
be the border in drugs or Venezuelans and America illegally,
this is a crisis. And because it's a crisis, I
can suspend packing anything you want in this case of
tavious corpus. So we are that last social media post

(01:29:52):
a plant Poplin. We are living if nothing be done
at the time, certainly some of the most interesting of times,
some of which will today from two o'clock this afternoon,
and we will talk about it tomorrow meantime, Happy Days.

Speaker 1 (01:30:09):
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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