Full Show Podcast: 23 May 2025

Episode Transcript
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Speaker 1 (00:00):
The New Zealand's home for trusted news and views, The
Mike Hosking Breakfast with the range Rover, the la designed
to intrigue and use Togsdad b.

Speaker 2 (00:09):
Well, then you welcome today the budget and whether more
debt is wise, whether up and que say the soul's
long term issues or just adds more cost to us
all where the two hundred million for gas exploration brings
the explorers back. Nicola Willis and the cast to be interested.
Richard Arnold stateside Timm and Katie after a murray olds
in a very wet New South Wales pasky. Welcome to
the day, seven past six. It's likely, indeed forecast that

(00:31):
this government, if re elected next year, will end its
second term i e. Twenty twenty nine, never having run
a surplus. Now that are the means they spend too
much or they inherited a gargantu and miss. The latter
we know to be a fact that the form is
a bit debatable. In fact, depending on how you measure things,
the fore car surplus and twenty twenty nine is so
thin it might be less than nothing. And that's the

(00:53):
optimistic way of measuring things. The government now favors on
to why that is, the traditional way still has a
three billion dollar hole. By twenty twenty nine, the pay
equity money turns out to be about two and a
half billion a year, which shows you how hopelessly loose
pay equity became. Primary teaching is not a pay equity issue,
the same way nursing isn't. It's a union pay grab.

(01:14):
The opposition will try and convince you otherwise, but they're wrong.
What we do know is the government found five billion
a year from savings in equity, which is a lot
of money, but money that still allegedly needs spending, hence
the ongoing deficits. The debt to GDP keeps going up.
It's too high. But under my way of doing things,
the little there was handed out or redistributed yesterday wouldn't
have been. But I suspect the politics of that particular

(01:35):
approach was too much to stomach. But and here is
the issue. A conservative government can only run things in
the red for so long before the public quite rightly
asks whether they actually know what they're doing. Can we
save a freebies for the so called wealthy? Good move?
Best start freebies for wealthy families? Good move? Means testing
wealthy families on jobless teenagers. Common sense. It's done on

(01:55):
student allowance, depreciation for business assets. Good move encourages people
to spend to take a punt more please. In the end,
it was pretty much a simple document because one, the
government has limited room to move, and two, governments should
not be the home of all good ideas, bum wiping
and problem solving. They should set the mood and clear
the runway. It's a classic center right budget written in
tough times. What they need politically is people to understand

(02:19):
just how tough and to give them leeway and some
patience to ride this out. And as for those who
dug as this hole in the first place, the less
we hear from them, the better.

Speaker 1 (02:29):
News of the world.

Speaker 2 (02:31):
In ninety seconds, Yaza came to the streets of Washington
last night when two Israeli embassy workers got shot dead.

Speaker 3 (02:37):
I was walking by.

Speaker 4 (02:39):
Guy came up and he shot this young couple.

Speaker 5 (02:43):
We heard between ten to fifteen gun shots roughly, I
don't know the exact number, and all of us were
a little bit startled.

Speaker 2 (02:51):
Israel's ambassador the people of Israel are resilient people.

Speaker 6 (02:54):
The people of the United States of America are resilient people.

Speaker 2 (02:59):
Together, we won't be afraid.

Speaker 6 (03:00):
Together, we'll stand and we're going to overcome moral depravity.

Speaker 2 (03:06):
The ag they.

Speaker 7 (03:08):
Walked outside to go home and were gunned down.

Speaker 8 (03:11):
That cannot happen in our community.

Speaker 7 (03:14):
And this is the day where we all need to
come together, no matter what religion.

Speaker 2 (03:17):
We are also sign Trumpet's big beautiful bill has passed
the House. Just the moderates bicyclely got beaten up by
the highline of some of these.

Speaker 7 (03:25):
Cuts are not real. You know, if you do a
trade and a half, that's like a percent and a half.
So let's don't get high on a horse here that
we've somehow made some major advancement of reducing spending because we.

Speaker 2 (03:39):
Did then big deal in brook and I finally count
the Chagos deal.

Speaker 9 (03:43):
Anyone who would abandon this deal would abandon the base.

Speaker 10 (03:46):
Yeah, they would.

Speaker 11 (03:49):
Weaken the security of the British people, and they would
weaken the straight for the British armed forces.

Speaker 2 (03:54):
Essentially the hand the place iba and least it veack
the Tories not fans.

Speaker 11 (03:58):
We fundamentally opposed the idea of spending billions on a
surrender tax to lease back land that we currently own
freeholding final where.

Speaker 2 (04:07):
The US Treasury is officially phasing out the penny. Now,
this announcement came over night, It's been coming for a while.
That costs more than three cents to produce each one
of them businesses that do the cash transaction, and there's
a lot of them, because America is a cash economy.
Of course, they'll soon need to start rounding up to
the nearest nickel problem with the nickel is the latest
figure shot It costs thirteen point eight cents to make
a nickel.

Speaker 3 (04:27):
So that is news of the world.

Speaker 2 (04:28):
Ninety Yeah, the Chagos deals one hundred and one million
pounds per year four ninety nine years, with an option
for another forty years after that. And the Big Beautiful
Bill two fifteen to two fourteen. Sure, two Republicans bailed.
It's now off to the Senate. Eleven past six.

Speaker 1 (04:47):
The Mike Asking Breakfast Full Show podcast on iHeartRadio powered
by News talks it by.

Speaker 2 (04:55):
Watch this one. Murray Olds is going to be interesting
after eight thirty this morning, Susan lad David Little Proud.
This is the collapse of the coalition during the week.
This is historic, a momentous day in Australian politics. It's
so momentous. They decide, I wonder if we haven't made
a mistake. So some crisis talks were enacted yesterday. Lay

(05:16):
reached out to Michael McCormick, Barnaby Joyce and Darren Chester
to salvage the situation. So we'll see where we go
with that. Fourteen past six management.

Speaker 12 (05:26):
Gregsmith Moody to you morning, do you Mike.

Speaker 2 (05:29):
Budget me up? What do you reckon?

Speaker 13 (05:31):
Ah?

Speaker 11 (05:31):
Well, obviously there's plenty of bad news, isn't it in
terms of the weaker economy. We at less text are
in you with a delayed surplus to twenty twenty nine,
and you know the rise in debt levels. But let's
look at some of the positives. So yeah, the new
Text incentive scheme deductions of firms of twenty percent of
new esse. It's near the purchased okon, that's great. It's
going to boost economic grave. It's going to cost six

(05:52):
point six billion, but it's going to left GDP by
one percent, wages by one and a half per cent
of allbit over the next twenty years. I think it's
good cause, as the government notes, share business investment raises
the product to the workers lists and drives economic growth,
simple equation, and we need that list and productivity given
we've got one of the lowest rates of it in
the OECD, So I think it's I think only good news. Obviously,

(06:15):
the in terms of ki we saving, you mentioned that
it does add costs, but I think overall it is
a great course. I think it's a net positive. So
we're raising that default minimum to three and a half
percent April next year, and then it's obviously going to
rise towards four percent by twenty twenty eight. And yeah,
yeah they having contributions. Of course, highers are out, but

(06:35):
we've got sixteen seventy year olds in and yeah, I
think overall it's a net positive. Look and if you
look at it, does the only need to obviously look
across the testament and the benefits of your having a
strong superannuation plan. Your Oddi's at eleven and a half percent,
so I'm not going to get there anytime soon, but
it's worked out pretty well there and I think you
know the reality is this, keys are pretty bad savers historically,

(06:56):
so this is a great way to investify wealth. It's
good for first home buyers, it's going to give them
a little helping hand on the ladder, and so I
really like that initiative, and I just think the overall
budget was it didn't build a ter any surprises and
a lot of saying it's not going to have much
bearing on the ABNZ next week and they're all going
to be looking at global factors. I think just sort
of reaffirms, you know, what a tough spot our economy

(07:18):
is in general. So I actually argue it is it
is something the abends that'll.

Speaker 14 (07:20):
Be looking at.

Speaker 2 (07:21):
Yeah, exactly reporting season next week. Are where you standing
by with trepidation or not? What's going on?

Speaker 11 (07:27):
Yeah, we are a little bit so Yeah, I suppose
your disappointments have been punished early days and yeah, those
that have sort of been rewarded. So we've got quite
a few big blue chips supported next week, but we
had a few of the minnows a few appetizers yesterday.
Oceana Healthcare we've got rhyme and reporting next week. But
fellow retirement care operator they have their four years olds.
They're pretty solid. Four percent increase in earning thirty six million.

(07:49):
Income was up that sales momentum in the second half
volumes increasing seventeen percent, resales up. They're doing pretty well
on the development front, and Auckham and christ Church they're
taking costs out. She's a pretty flat but up around
fourteen percent year to date, so all their story is
pretty solid. Yeah. At Pharmaceuticals they sell maxages at tablets.

(08:11):
Now the revenues are up six percent turn or eight million.
They're doing really well in Australia. Sales are up seventeen percent,
operating profit they are up to sixty five percent, and
they are the only company in the world to secure
two licensing agreements into China and that's the second largest
farmer market. That's a good story. She is up nearly
four percent. And then of course there is maybe not

(08:31):
such a great name to some some in terms of
my food Bag that actually jumped seven percent following the result.
Earnings of sixteen million were pretty flat active customers as
well as well as revenues, but sales and the second
half up five percent, and they're doing well in the
first eight weeks of the year. Now there's a stock
which has burnt a lot of key we investors and
it's down ninety percent since that float back in twenty

(08:54):
twenty one. It's not going to get back there. So
it's all that sort of looking at the current situation.
But obviously a bit of a lesson was float and
peak conditions. A lot of investors brought into the hype
extrapolated situation, as we know now was only temporary. So
I think you have to say confidence with the stock
is pretty shot. But you know it's actually under three
times earning, so you know the values there it has

(09:15):
been right sized, not going to get back to formal glories.
But yeah, they seem to be doing well at the moment.

Speaker 2 (09:20):
Okay, I need some numbers from you, griggles.

Speaker 11 (09:23):
Okay, what have we got, Mike, We've got the Dore
is actually up point four percent, as you say, that
big beautiful bill has passed and it's gonna actually increase
the levels as well. But four to two zero three
three on the Dow is a B five hundred up
point three percent, five eight six four, And there's the
up point eight percent, the fifty one hundred down half percent.
There was some sort of positive data in terms of
business and consumer confidence. Nick I down point eight percent,

(09:47):
A six two hundred down half percent, Index fifty down
point three percent, twelve sixty sixty two, gold down sixteen
bucks three to two nine eight and ounce oil down
fifty cents sixty one spot zero four. And the currency
is Key is actually weaker across the border, partly on
the budget. So the US this is the Key with
fifty nine and down point six percent against is Traian
dollars with ninety two even. We're forty four even against

(10:08):
the Bruce bound and we're eighty five point one against
the Japanese.

Speaker 2 (10:11):
Again, you have a good weekend, mate, appreciate your expertise.
This week, Greg Smith, Devon Funds Management Zesprey once again
came to the party. This was their corporate prophecies like
the Fontira versus the farm milkgate, blah blah. Anyway, it's
their corporate operation. They had a record profit and I'm
not surprised because if you can't do well in key
fruit at the moment, no one's doing well. And very
good news for christ Church, the South Island and travel

(10:32):
and Singapore Airlines and Christyuge Airport because we've got the season.
Another four flights between christ Church and Singapore each week
as of November has been announced. So basically this summer
period November through February, which is twenty three thousand extra seats,
so that's eleven services per week, so it's a lot
of choice. And they've got sixty four additional tons of
out bound freight to that particular part of the world.

(10:54):
So good on them. Six twenty Friday morning, you're on
the Make Consking.

Speaker 1 (10:58):
Breakfast the Mike Asking Breakfast Full Show podcast on iHeartRadio
powered by News.

Speaker 2 (11:07):
Talks at b Yeah, a very good point, Mike christ Dute.
Also flights from Cathay, China, Southern United Emirates punch as
well above its weight for connectivity. Now, very very good point.
Speaking of airlines and travel, so in America, and this
is the growing picture. We'll come to the bond market.
The yields the flight to safety out of America at
the moment because of Trump, but airlines are now forecasting

(11:28):
out of America what they're calling a summer of Hell.
They've got the usual issues with plane seats, etc. But
they've also got new issues, which is the pending recession
of the Rizwan. Certainly the sentiment is not the same,
so people's desire to buy tickets. They've got the ongoing
problem with flight delays, and cancelations around air traffic control.
Air traffic control is a major issue in America these days,

(11:50):
leading to all sorts of drama. And then you've got
the business of whether you actually want to go to
America anymore because you might get frisked or have your
phone looked at, or the border seems to be an
increasing problem. Having said that, so that's America meantime. Reported
to this morning that summer travel demand for the Northern
Europe period. There are a lot of people, of course
from this part of the world, in all parts, that
will go to Europe for summer, for July and August,

(12:11):
and that demand is booming. It looks good for summer.
There are capacity constraints already ahead of booking. So Europe good,
America not so good. It is twenty five minutes past
six trending.

Speaker 1 (12:24):
Now quit chemist warehouse, mayhem megasale on.

Speaker 2 (12:27):
Now now to the scandal that's gripping IndyCar that we
alluded to yesterday. One of the world's biggest races, the
Indy five hundred, of course, and of course we got
so many New Zealanders involved. Roger Penske he owns IndyCar.
He owns the Indianapolis five hundred. He owns the Indianapolis
Motor Speedway, so he's the team that Scott McLachlan drives
for now. The scandal is they've got a thing, as
I explained yesterday, called inn the tenuatter now that's designed

(12:48):
to cushion the blode of the car hits a wall. Now,
all the cars have the same attenuator from the same
single source supplier. However, Penske made modifications stuck him in
the Willpower and the Joe New Garden cars. Last year
they cheated too. This was the push to Pass scandal.
It was where software was putting all three of the
cars to give the driver's engine boosts. It's all illegal

(13:10):
and they got pinged on that. So Roger Penske had
to front up yesterday to try and hose it all down.

Speaker 6 (13:14):
I'm totally disappointed with the outcome. And when I think
about Team Penske, we really have had an organization failure
two times, not once, but two times, and believe me,
it hurts me in my gut. There's a certain amount
of credibility you have to have. It's integrity individually and
collectively our team and I think we let people down.

Speaker 2 (13:36):
You let people down, so he went and seck them
because he blames the people running the team.

Speaker 6 (13:39):
Basically, Number one, I can look myself in the mirror
and say I've done the right thing. Obviously we have
not done a good job in the optics for people
outside this and these two violations you would call him
certainly show the fact that I need to be more diligent.

Speaker 2 (13:56):
Yeah, so what you got is nine attenuators and this
is where got They messed with them. Some of they
messed with some of them they didn't. And that's why
McLaughlin got lucky. His car was cleaned.

Speaker 15 (14:08):
Those have been rotated through the cars over the last
fifteen months. We also had newer ones that we bought
and those have been in the same batch. And that's
why you see that McLachlin didn't have an issue with
his car.

Speaker 2 (14:21):
Now, the key to remember here is McLaughlin not only
is he lucky, but also him power and new guard.
In other words, the drivers, they aren't cheats, they're not
considered culpable. They didn't have a clue. The people were
doing the business behind the scenes. Now Here was so
much cover off in the budget. The key we say
the thing four percent and four percent. Is that actually

(14:42):
long term solution to a problem and this overall superannuation
thing that we can't afford in ensuing years or does
it simply add cost to business? And given that you
can opt out if you want to, are people going
to start opting out? We'll crunch a few numbers around here,
you say, before you after the news, which is next
here on the make Blonking.

Speaker 1 (15:03):
Setting me agenda and talking the big issues, the Mike
costing breakfast with Bailey's real estate, your local experts across residential, commercial,
and rural news togs head be Mike.

Speaker 2 (15:14):
Forty five times two hundred and sixty dollars eleven thy
seven hundred, even with compounding interests. That's far shorter than
the sixty six thousand laborers alleging the government is stealing
from Kii Saber for individuals. Tony, good point. But the
mistake you make is believing Labor party when it comes
to economic calculations. Am I right, Mike? And saying, after
all the drama about letting the Mallory Party into the
House to debate it, they didn't even turn up. Yes

(15:35):
you are, Mike, what about the Mallory Party didn't even
show up to the House for the budget. This was
brushed over quickly by most of the media. How is
this acceptable? It's acceptable only if you take them seriously,
which I don't. As Logan Royce famously said, these are
not serious people. Twenty three minutes away from seven Nichola
Wilson in ours time, This Quey Sabers story got the

(15:57):
adjustment yesterday. So what have we got? Minimum contributional increase
from three to four Percently amount the government puts in
will be hard to a maximum of two sixty one
a year means testing. So if you're high income earner
you get nothing superinnuation. Key we Saber expert Jonathan Erickson's
with us on this Jonathan.

Speaker 4 (16:11):
Morning Morning, Mike, how thanks very well.

Speaker 2 (16:14):
Indeed, thank you. The government's part of the equation, Is
it material for most people or not?

Speaker 4 (16:20):
No, it's not. And in that sense, it's a pity
that they're interfering with a system that works really well
as it stands. On the other hand, the fact that
they're taking money away from Kei we Saber to put
into health and education is probably a good thing. But
the key good thing about this is that they're actually

(16:41):
encouraging and making employers contribute in respect of sixteen and
seventeen year olds, which means that younger people can start
contributing and learn.

Speaker 2 (16:50):
To say you think that's material.

Speaker 4 (16:53):
Yes, I do. In the sense it encourages people to
start saving earlier, because that is what they should be
trying to do for the rest of their lives until
they retire. But in terms of you know, cutting the
CO contribution in half and cutting it out entirely, if
you get over one hundred and eighty thousand a year, well,

(17:14):
for one hundred and eighty thousand or a two hundred
thousand dollars a year employee, that the tax on their
to twenty thousand dollars that they earn over one hundred
and eighty thousand is over one thousand dollars. So whether
the CO contributions five hundred or two sixty doesn't really matter.

(17:38):
The key thing is that they're paying more out an
extra tax as a result of the labor government putting
the tax rate up to thirty nine cents a few
years ago.

Speaker 2 (17:46):
Don't get me started on that the four percent contribution
from employers. Is that a cost to business or a
solution to a long term problem.

Speaker 4 (17:55):
No, it's a cost of business. Most people, most generous
employers put in four percent anyway, or five. They'll match
the employees, and some employees even match it up to
ten percent. So in that sense, having the minimum at
three is for people who can't afford to pay anymore,
and make them pay pay three and a half and

(18:17):
then four to get the co contribute. The matching contribution
from the employer doesn't really matter. And the real problem
is that every time they tweak this it damages people
confident and the system staying on.

Speaker 2 (18:31):
Couldn't agree more, but they were always going to because
the politicians net gain or net loss as a move
out of yesterday.

Speaker 4 (18:42):
From the Kiwi save side. It's a net loss because
people will actually contribute. They'll do their one thousand dollars
a year just to get the two hundred and sixteen
instead of five hundred and twenty, but they won't actually
contribute the way they could and should if the system's
kept the in its good form that it had.

Speaker 2 (19:04):
Well, argue Jonathan, you have a good weekend, Appreciate it,
Jonathan Erickson, superannuation and key we expert. As I say,
Nikola Willis after seven thirty and bred Olds and to
crunch a few more numbers for us after seven nineteen
to two the.

Speaker 1 (19:15):
Mic Hosking Breakfast Full Show podcast on iHeartRadio powered by
News Talk Zip.

Speaker 2 (19:21):
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you are saving big worth Harvey Norman Cosking, Mike, how
can Hipkins talk trash about the budget when we're in
the position because him and just indes indability to run
the country. They should they have money away and bought

(20:26):
their votes. She should be in jail. I wouldn't put
them in jail, but I just wouldn't give them as
much time as you seem to want to, Mike. Does
anyone have any evidence that New Zealanders are under saving
for retirement? Yes, we do. We've got plenty of evidence.
And the evidence is the percentage or the number of
people who are solely reliant on superannuation, and there are
far too many of them, thus indicating we've got a problem.

Speaker 12 (20:48):
Six forty five International correspondence with Ends and Eye Insurance
Peace of mind for New Zealand business, say.

Speaker 2 (20:54):
Sid Richard Arnold, Good Friday morning to you good And
he got there by one stop the center.

Speaker 16 (21:02):
Well, a win's a win, right, He won the pressure
game when it came to the House. He got his
tax bill through by this single vote two hundred and
fifteen to two hundred and fourteen for what the Master
of nicknames calls, Who's one big beautiful bill. However, Matt Drudge,
the Conservative blog calls it quote the big beautiful tax bomb.
That's because this will add around three point eight trillion
dollars US to the massive deficit country has, which is

(21:25):
already at what thirty six a trillion, at a point
when others already are cooling on the US economy. So
if conservatives once called themselves fiscal conservatives, well they didn't
vote that way, did they. They talk about cutting the debt,
then they ballot it when they're in power. This now
goes to the US Senate, where some Republicans are saying
this is too big and they will not vote for
it in this form. Republican Senator Around Paul saying his

(21:47):
party will own the deficit if they back this thing.
Republicans Senate leader John Suons says they plan to seek
some changes and maybe break the bill apart into separate packages.
Republican Senator Lindsay Graham says the claims about spending cuts
are a mira.

Speaker 11 (22:02):
Some of these cuts are not real.

Speaker 7 (22:04):
So let's don't get high on a horse here. That
we've somehow made some major advance when are producing spending
costs we did.

Speaker 16 (22:12):
When it's added up, the richest ten percent get an increase,
the poorest lose some money because the tax changes are aggressive,
and there are plan cuts as well through medical care
and food money for the poor, so rich do better
on the backs of the poor. There is an extension
of the twenty seventeen Trump's tax cuts that will cost

(22:32):
two point two trillion US. However, on the other side,
some eight point six million people here will be without
medical coverage, Food stamp requirements will be tightened. There will
be a temporary ban on taxing tips, which is an
idea that Trump put forward to win votes during the
campaign in Las Vegas and so on. But again that's
just temporary. There is a call for it would be
illigants to pay a thousand bucks to be considered in

(22:53):
the courts here, and there is a ban on some
clean energy incentives just on those elements. So if they
eliminated the tax counts for people who earn a half
a million bucks US a year or more, that would
save more than one trillion dollars, a little more than
the cost of health care and food for four of folks,
So that's basically the split.

Speaker 9 (23:11):
Hire.

Speaker 16 (23:12):
Trump already is calling for an early Senate vote on
his budget and says it would be disastrous if he loses,
so he's already turning up the pressure once again. Meantime,
one little provision that sort of snuck in Mike is
and how some publicans wanted to change the law that
gun owners now will not have to report it if
they buy silences for their weapons, because as we know,
the endless gun massacres in this country are so noisy.

Speaker 2 (23:35):
Yeah, San Diego, what's the upload.

Speaker 3 (23:39):
Yes, Well, we've just.

Speaker 16 (23:42):
Had the initial numbers on the dead and injured from
this crash. It was a small business jet that went
down into a suburban area of San Diego. FIA Chief
Dan Eddie is saying we had eat.

Speaker 5 (23:52):
Injuried and we had two fatalities as well.

Speaker 4 (23:54):
We're currently out right now, so it injured two fatalities.

Speaker 5 (23:57):
One of those injuries was transported.

Speaker 16 (23:59):
It appears that those killed were on the jet. That's
not exactly confirmed us yet, they're still investigating. Some on
the ground also were among the injured. So this is
really a huge disaster scene. Some fifteen houses were set
on fire. There was a lot of jet fuel burning.
About one hundred people were evacuated in the middle of
the night. At the height of this thing, last word
from the pilot was this clockerby.

Speaker 4 (24:20):
Traffic scitation triple to self.

Speaker 10 (24:21):
This yere three miles chinal.

Speaker 16 (24:23):
Twov so no indication than of any emergency at that
point that they knew about in the cabin. Meantime, this
occurred as they were coming in to land at a
small uncontrolled airport in the middle of the night. As
I say, thick fog as well. Not clear as yet
if there was any data voice recorder on the aircraft.
It was a citation two jet so dating for the
late seventies, so that was a point when these devices

(24:45):
weren't mandated. On the ground. Right now, they're doing more
searches to make sure everybody is out. This is a
place where a lot of military families live, says a
city councilor.

Speaker 5 (24:53):
We know that there was many miracles and many heroic
actions from our police department, from our firefighters, and the
military members themselves. I've heard stories over at the school
just near us about military families helping military families out
of their home, jumping out of windows avoiding fire.

Speaker 16 (25:10):
So quite a scene and amazing. There were not more
casualties made because everyone, of course would have been at home.

Speaker 2 (25:15):
Yeah, exactly, all right, man't go well. Richard Arnold stateside
just quickly, so he got the big bill, through the
big beautiful bill. But a federal judge also has ordered
the administration to run state more than thirteen hundred US
Department of Education employees. Twenty one State sued him over that,
So that's a loss and big news. Today, Universal's epic
new theme park has opened. This is Comcast. This is

(25:38):
sort of TVV entertainment, sort of clashing. The world's coming together.
Epic Universe is what it's called. Sois major theme park
in the US that's opened in twenty years. It's in
Orlando and Florida. The most technologically advanced theme park ever.
Took six years to build seven point seven billion dollars.
It's you watch it on the telly, then you go

(25:59):
play with it. The park also goes the theory turn
Away from seven.

Speaker 1 (26:04):
The Mike Hosking Breakfast with the Range, Rover Villa News
Talks Dad by.

Speaker 2 (26:08):
Mike Carter taking ages to lift my own QIsab contributions
from three to ten percent. I encourage my kids to
contribute at ten percent from when they first started working.
They will never know the challenge of trying to lift
contributions and will be far better off. Maybe more job
Starter should try and do the same. It's a very
good point. It's the leak on new view of the
world in Singapore. I can't remember what their number was
all those years ago. Was it eight or eleven or whatever?

(26:30):
Anyone when we were a third WORL country. We can't
save and look at them now, Mike, I struggle to
understand why employers aren't required to make any payments to
qv Saver for staff at sixty five plus. I pay
ten percent of my salary. My employer pays nothing. Well,
that's because you're on Super. He's the obvious answer to
that question. Although that's the Nikola Willis argument. We are
going to have a have to have a conversation. At
twenty eight billion dollars for Super and the increasing number

(26:53):
of people sixty five plus who are still gainfully employed
and enjoying life, something's going to happen to Mike. Instead
of means test and Kiwi Saber contributions, they should have
paid full contribution to an age I e. Forty years,
get people into Kiwi Saber and the benefit of compound interest.
Everyone's got an idea. I've never been in Kiwi Saber.

(27:15):
I don't you know? You should sort yourself out? Is
my basic philosophy in life. If you want to say,
for a decent retirement, sort yourself out. Why are you're
relying on the government five minutes away from seven Because
as were said.

Speaker 17 (27:29):
The ins and the outs, the fizz with business favor
take your business productivity to the next level.

Speaker 2 (27:35):
Because, as our guest a couple of moments ago, Jonathan said,
the moment you rely on the government, they muck around
with it. Run your own life. You're not mucking around
with it. And if you are a no one to
blame but yourself. Us bond market, so they don't like
the big beautiful bill. The bond auction yesterday, demand was
at the lowest since February. Those who got in got

(27:56):
a higher yield. And this is this is the story
I'm trying to tell you. Watch this space. So poor
demand means that America is no longer seen the way
it used to be. It's increasingly seen as risky long
term treasuries fell even more yesterday. The yields, they've gone
up ten year, four point six one. Yesterday I was

(28:17):
talking to this four point five or something for the
four point six one thirty year above five, Well, anything
above five is a disaster for thirty years. It's now
at five point one four. The US dollars also going
the wrong way. The Big Beautiful Bill wouldd nearly four
trillion to America's thirty six trillion in debt. They already
spend sixteen percent of all their money sixteen percent of

(28:38):
all their money, or six hundred and eighty four billion
dollars just servicing the interest, six hundred and eighty four
billion dollars just servicing the interest on their ever growing debt.
And of course that debt becomes more expensive as the
yield goes up. See join those dots and the bond
markets are affecting everyday Americans because the mortgage rates are up.
Our average fixed rate now six to eighty six, and

(29:01):
that's only going to get worse. Some mortgages now third
a year, have gone through seven percent. Emerging markets are
said to be the next bull run. This is what
I'm reading yesterday from the Bank of America, the next
bull market, the weaker US dollars dollar, the US bond yield,
Chinese economic recovery. Nothing will work better than emerging market stocks.
This is what the Bank of America are saying. And

(29:21):
why are they saying that? Because there is a flight
to consistency, there is a flight to surety, there is
a flight to or away from nuttiness. That's where the
money goes. People don't like surprises and trumps. One big, fat,
massive surprise. Yesterday's budget I thought was overall pretty reasonable
given the constraints of what they were dealing with. Brad

(29:43):
Olsen to workers through a few of the numbers. In
the next half hour of the program, the Finance Minister
Nikola willis, she'll be answering a few questions that weren't
asked properly yesterday and after eight too, and Katie will
be the weak for us here on the My Costume Bricks.

Speaker 1 (29:58):
The Breakfast Show, Ki Trust to Stay in the Know,
the mic hosting Breakfast with Veda, Retirement Communities, Life Your
Way News, togs Head b.

Speaker 2 (30:08):
Twenty seven past seven. So Budget twenty five. The government,
it turned out, did have a lot of money, and
that came from savings, half of them from the pay
equity adjustments, the rest from adjustments to key we save
a best start and benefit cuts infometrics principle. Economist Brad
Olson's back with this, Bradley, good.

Speaker 3 (30:20):
Morning, Good morning.

Speaker 2 (30:22):
Do tell me this means testing thing that they're doing
in various ways, shapes and sizes. Whenever I've asked a
government previously why they don't do it for doctors and
kids and stuff like that, they've always said it's too hard.
Is it suddenly not too hard and we can mean
to test people?

Speaker 10 (30:38):
Well, I think it's probably an element of there where
it now becomes politically expedient enough to do it. I mean,
you look at the lights of the changes to the
eighteen to nineteen year olds. If you can means test
that age group when they go to university, when they
try and get a student allowance and similar it shouldn't
be too much harder to do it for the unemployment benefit.
So there's part there. Was interesting though, looking through some

(31:00):
of the budget documents that the government is also expecting
further savings over time from having better data. Thinking between
the likes of MSD and IID two effectively do that
means setting much more efficiently. So I do think that
over time, as the government is getting better and better
with its data, it's able to better and better do
that means sesting without all of these big inefficiencies that

(31:21):
might have previously been there. So a little bit of
an advancement over time, a little bit of a political
shift as well.

Speaker 2 (31:27):
I think the deficit surplus by twenty nine and how
you measure it, which way do you favor measuring And
are the government cooking the books?

Speaker 10 (31:36):
No, they're not cooking the books so that you can
definitely come up with the various measures regardless of how
you do it. The government is on track for a surplus,
but it's going to be pretty touch and go, and
I think that highlights the storialities right that we are
still for a while going to be living beyond our means.
The government is still seeing expenses that are above thirty
one percent of GDP all the way out until twenty

(31:58):
twenty nine. So look at it on the overgal measure,
look at it on the overgal x measure. They're all
trending towards the same point. But I think it does
highlight to look for the government, this is now you know,
I think probably the third maybe fourth year in a row,
that that budget gets a whole lot harder to return
to surplus. So long story short, for every budget into
the future, for the next couple, they will do the

(32:19):
exact same thing. It will probably get harder to achieve
that target. Something will have to give, and that means
probably less spending or something else coming along the way.

Speaker 2 (32:27):
The debt to GDP. Does that worry you?

Speaker 10 (32:32):
I think it's concerning to see it remaining so high
for so long. I can understand that it's difficult to
get that down without making some incredibly much deeper cuts
than we've already seen. But and this is a debate
that's been playing out, i think this week between the
government and the opposition around debt levels. If something hits tomorrow,
if you have the Alpine fault that goes, if you

(32:54):
have another major weather event and similar that's where the
debt room is important because it helps us get through
Trresury recently estimated that after a big economic shop, we
spend something like ten percent of GDP on that recovery.
We've got to have that buffer head room. So as
much as it is important that we invest in the future,
and let's get that right. Particular infrastructure, we've got to

(33:15):
have a bit of buffer.

Speaker 2 (33:15):
Too, okay, Brad good and so I appreciate it as
always brand of alson infometric principal economist. Where there's ten
minutes past seven. My favorite bit of you can apply
that phrase to a budget is there's two hundred million
dollars in due exploration for gas. It's basically a skin
in the game fund. It sends a message to the
industry the government is serious about getting back into this business.
The energy resources out here are Chief Executive John Carnegie's

(33:36):
back with us. John morning, Yeah, good morning mine. This
is reputational for the country and the government does it
work well?

Speaker 9 (33:44):
Look, we think it well. I mean it's important to
put it under perspective, of course, because over the last
seven years all of the policy signals for the sector
have been unremittingly negative. So this end of changes the
government's now looking to make in the bill which is
in Parliament at the moment, will tilt the economic signals
back towards neutral and in doing so, tilt investment confidence

(34:07):
back towards investing.

Speaker 11 (34:09):
So is it a positive signal yet?

Speaker 2 (34:11):
Absolutely not a ten or fifteen percent, Is it enough?
I mean, if I'm coming to the country and I've
got the government coming in at that level, am I
thinking good on them? Or am I still taking a
very big risk?

Speaker 10 (34:20):
Oh?

Speaker 9 (34:20):
Look again, it's important to put it into perspective. It
the number would set around about twenty percent of the
capital invested in the sector over the past few years,
so it's not insignificant. And these projects do require huge
amounts of capital, so even a little government participation can
help de risk and catalyze investment. And it's also I

(34:43):
think important to think about the upside because of course,
while it may be as much about signaling government's intent
to partner with the industry, it could also prove to
be incredibly lucrative for the ground, especially if it's successful
and you know, the industry starts paying more royalties text

(35:04):
and the wider economic benefits of such.

Speaker 2 (35:06):
Exactly flip side of that, and the Greens will be
all over it. If you find nothing, though, and that's
that's government money down the drain.

Speaker 9 (35:14):
Well, you know, I think as you will recognize that
finding our energy system lurching from crisis to crisis that
we've been doing since twenty eighteen so look, you know,
people can call it what they want. We call it
an investment and now economic an energy future.

Speaker 2 (35:34):
Good all right, John, appreciate it, John Carnegie, Energy Resources
with us this morning, thirteen minutes past seven. Rents national
medians falling for the second month in a row. Starts
out this morning zero point appresent drop in March, another
one in April. Overall, year on year, that's a decrease
of three point one percent. So your medium price around
the country is five hundred and sixty dollars, which is

(35:55):
twenty dollars less and it was so in other words,
is more affordable to rent these days? Noisy numbers for
a month on month, but I'll give them to you anyway.
On the upside, you've got Taranaki. It's up one point
seven northan one point seven. On the downside, big drop
in Otigo, four point eight, minus one point five in Auckland,
and minus two point nine to the Bay of Plenty.
I don't know about you, but we've been discovering lately,

(36:16):
Mike Hosking Incorporated, that the ird are big on this
this this relationship between maintenance and so called improvements on
a rental property. If you're a landlord. They are cracking
down big time on that. And even if you're a
straight up and down player like I am, as honest
as the day is long and deeply conservative for a

(36:39):
variety of reasons, not least of which is the last
thing I need as a red flag next to my name.
Even when you're as honest as the day is long,
there's still someone's given them the word to have a
good hard look at depreciation and what things are writing off.
So the only reason I raise that, because you don't
give the monkeys about what I do in my life,
is that is the twenty percent yesterday? Are we all

(36:59):
going out and buying stuff now? And if we all
go out and buy an ATV like I could go
buy an ATV tomorrow for my six hectears of land,
it doesn't have anything to do with business. But am
I now writing that off at twenty percent? And that
is that somehow good for business, good for the economy.
We'll talk to Nicoler about that. Fourteen past.

Speaker 1 (37:17):
The Mike Asking Breakfast Full Show podcast on iHeartRadio powered
by News Talks at b OH.

Speaker 2 (37:23):
Mike, isn't it interesting that interest deductibility has come back
and rents a down. Surprise, surprise, you stop bashing landlords,
take away the punitive taxes and there's less pressure to
increase rent. What a very good point. Seventeen past seven,
Part two of the Aukland FC this weekend as they
take on Melbourne second leg of course of the playoffs.
One Neil last week home ground this week sold out
of course. Aukland de f C boss Nick Beck is
back with us.

Speaker 3 (37:43):
Nick.

Speaker 2 (37:44):
Morning to you, morning Mike. How are you well? Thank you?
If you win this weekend? Will you be as hungover
as if I talk to you next week as you
were last time?

Speaker 11 (37:56):
No? Well, listen, if we win, that's a very good question.
I appreciate it. But if we go through it, I
certainly hope we do. This Saturday, it's going to be
a massive week for the club as we'll lead into
our first ever home ground final. So that's the plan.
I think I'll behave myself. But if you asked me
that question in two weeks time, it could be could.

Speaker 2 (38:13):
Be a whole different story. The who do you play?

Speaker 3 (38:16):
Are you?

Speaker 2 (38:16):
Are you ahead to the final and winning the whole
thing yet or are we just taking this weekend?

Speaker 11 (38:21):
No, we're definitely not getting ahead of ourselves and that's
that's definitely been a big message from from everyone from
Bill right down to you know, like sort of Steve
and the coaching staff have said to the boys a
few times this week. We've set them down and said, look,
you know, we we're on that. We've had a fantastic season.
It's been an amazing journey so far, but nobody wants
it to end. And if we start thinking about a
Grand Final, we can slip up. And it's all about

(38:43):
having that focus and concentration. And to be honest, if
I think if they play like they did last Saturday,
where they were just hungrier, they wanted it more immense
and defense, and then you know, to get a one
mill away is exactly the position you want to be
coming to a home seer.

Speaker 2 (38:59):
Final, exactly. The bottom line affect crowd aside, homeground advantage
aside the bottom line effect. Having extra games at home
must be good for business.

Speaker 11 (39:08):
You would think so much, but unfortunately, the way that
the structure of the A LEA goes is the majority
of that particuling money goes off to the A League
to API who run it. So although there are a
few advantages for it and certainly it helps out our
retail sales. The structure of the camp at the moment
as it is, and I mean it's probably down to
fact it's only a young competition where it's only twenty

(39:28):
years old. But they come in and do a smash
and grab and take our final, our final ticketing money.
So it's not as lucrative as you'd hope it to be.

Speaker 2 (39:36):
You need to rearrange that.

Speaker 11 (39:38):
I do agree, and we're going to plan. That is
on high on the list of things to do.

Speaker 2 (39:44):
And that well, that was the other thing. I didn't
realize that away goal thing had gone years ago and
all sorts of competitions around the world. Why did that go?
And is that good or not?

Speaker 11 (39:52):
I think goals should be treated as a le goal.
I think the goals goals, you don't like it to
be partners with a double goal from away thing. It
could have been an own goal, could have been a
terrible goal, you know, it sort of could have been
a referring era of var era, you know. So I
think the fair eye is to have a goal as
a goal and you win it in the time or
it goes into extra time and it goes down to

(40:12):
the penalties. If it's all locked up.

Speaker 2 (40:14):
After that, okay, well, good luck this weekend. Most of
the nations behind you as far as I can work
out in Nick Becker, who's the boss of Auckland FC.
A lot of this coming in this morning, Mike, can
you please ask Nickeola the real question with pay equity?
Do you believe a social worker should get paid the
same as near traffic controller. I won't be asking that
because she's already answered it many times over, but there
is the debate, and it's an intense debate because it's

(40:34):
represented by this Mike. It's the reverse Robin Hood budget
completely saved. Eighty percent of the savings come from ripping
off the lowest paid worker. Well that's not true. It's half.
It's not eighty percent as half, and this is part
of the problem. People get all their facts wrong. So
fifty percent from doing some of the hardest work with
the most vulnerable in our society, and yet there's still
money for millions more for private schools. So you've got

(40:55):
a really angsty sort of debate, and we'll come back
to that after seven to thirty this morning, seven twenty.

Speaker 1 (41:02):
The Mic Hosking Breakfast Full Show podcast on iHeartRadio Power
by Newstalksippy.

Speaker 2 (41:11):
So let's face it, way we do businesses moved on
from you know your landlines, you face to face meetings.
Now it's mostly online meeting. Your internet connection's got to
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Businesses of every size should ensure their internet provides uncompromising reliability,
bandwidthin a better restoration service to minimize any downtime, which
is why New Zealand business runs on business fiber. You

(41:32):
can experience seamless video calls, upload download large files, quick
smart carry out, swift transactions, collaborate seamlessly online and cloud
based apps of course, all with business fibers. So basically,
get your business ahead, stay ahead by future proofing your
connection as our workplaces become ever more digital. Plus, as
a business fiber customer, by the way, you'll get priority
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(41:53):
minimizing time spent offline. So with fiber connection in which
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Chorus Recommendation. They've got a recommendation tool and you'll find
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got it Chorus dot co dot enz Ford slash business fiber.
Taking your business productivity to the next level, gets your

(42:14):
business running on the business fibers. Five Day, seven twenty four.
Time now to mark the week. Little piece of news
and current offense. It's as popular as Peter's stand off
on a Wellington railway platform. A New Zealand inc. Seven.
All in all a pretty good week. I mean the
export receipts, the trade balance, the Kiwi fruit numbers. There's
still a decent chunk of the joint operating pretty well,
if not brilliantly. Are the Greens budget one? They shouldn't

(42:37):
need to be allowed near a calculator. When nurses get
pay cuts because of their tax regime, you know you're
dealing with nutters. Are the real budget? Seven? In totality,
she did quite a lot with next to nothing. And
the intent and messaging I hope, gave hope and boy
do we need hope? Oh and also a surplus? Are
the privileges debate six?

Speaker 3 (42:56):
Now?

Speaker 2 (42:56):
Because at last the committee came to the party on
rule breaking and at least tempted to write the egregious
mess The place has become Chris Bishop seven out of
nowhere on the ensuing debate genius are the Warriors eight?

Speaker 12 (43:09):
Can't do work?

Speaker 11 (43:10):
Yeah?

Speaker 2 (43:10):
They just keep on winning and at home against the
Raider is what a lipsmacker this weekend when we beat
the Raiders, we're going to be top of the table,
literally top of the table coalition in Australia. One. I
mean you can't overstate how big this is set up
in the twenties for goodness sake, and to watch it
all fall apart the way it did this week in
one day, that was major. It was a big day

(43:31):
in Australian political history. More from Murray later, not to
mention the effect the labor would clearly produced across the
political spectrum. Now the Golden Dome. Six, we will have
the best system ever? Is it even real? I mean,
can you build the Dome in three years? And if
you can, how come we can't build a road in
that time? Are the US credit down grade? Three? This
is the I mean, this too might be historic if

(43:52):
the fundamental shift away from America and the belief in
it is real. And it seems to me run it straight. Five.
I mean I'm nonplus it seems a bit idiotic, But
then so does Love Island, the Sun, the Cross too,
a couple of whining locals, and the Council's suddenly got
money in time for a survey, I mean, get real
the FMA one a twenty one day workers survey questionnaire,

(44:15):
day after day after day after day after day, Get real,
Ardie Savi and nine. Imagine if he played for the Warriors,
Smith and Coey's two. That is what Arrogan's and competence,
blind ideology and lack of vision does for a city
Auckland Council Radio ratings, Radio ratings eight. It would appear

(44:35):
results release yesterday indicate this particular program might have got
a few numbers that made people go, can that guy
get any bigger and better? Or words to that effect.
That's the week copies of the website and if you
look closely at this week's pecuniary interest list, one MP
declared they had been gifted four hundred of these, asking right,
Sir Nichola Willison. The next half hour of the program

(44:56):
got a little bit correspondence on Smith and Keey closing down. Actually,
and it's not all interestingly enough, they would argue, and
these people are experts in the field, it's not all
the council's fault. It might be sitting just quietly there
on the doorstep of Psmith and Coe. But I'll come
back to all of that in the next half hour
of the program. Tim and Katy for you after Rake
this Friday morning on the Mike Hosking rest.

Speaker 1 (45:28):
Your source of breaking news, challenging opinion and honored facts.
The Mike Hosking Breakfast with the range Rover Villa designed
to intrigue and use togs Head be.

Speaker 2 (45:39):
Katy Afterday twenty three to eight. So the Finnounce Minister
found a shedloaded dave from savings and spread it about
the place. A lot of it is pre announced. The
course essorsors these days areas like health and defense we
already knew about. We don't have a surplus though for years,
and we are borrowing yet more money. The Finance Minister,
Nichola Willis is with us, a very good morning to you.

Speaker 8 (45:57):
Good morning mate.

Speaker 2 (45:58):
The surplus that you are promising by twenty twenty nine
under your dodgy measurement process, what if you're wrong? That
will be two terms of a national government that couldn't
deliver a single surplus? Is that a government that knows
how to run an economy.

Speaker 8 (46:13):
Well, it's really important to me that we do get
the books back in balance and back in surplus, and
that's our fiscal strategy. And what we've shown is despite
everything that's been happening internationally and the downgraded forecasts that
have resulted from that, we're still on track to get
that surplus. So I don't take economic recovery for granted.
That's why in this budget we've put that focus on

(46:35):
the investment boost policy to encourage businesses to keep investing.
That's why we're making a number of reforms for growth
because ultimately, the biggest risk to surplus is if our
economy slows down, and so that's why we're really on
the side of driving activity in this economy.

Speaker 2 (46:51):
The means testing stuff. I've asked many people over the
years around doctors and why you're subsidizing my kids to
go to a doctor, No idea. I don't need your help.
You've always explained that it's too difficult to means test.
How come suddenly we can means test lots of stuff
and that's apparently doable.

Speaker 8 (47:09):
Well, I do support means testing.

Speaker 2 (47:12):
I do too, but you've explained previously you can't.

Speaker 8 (47:14):
Do it well in some cases, in some particular areas,
it may be challenging. But in the couple of areas
that we've chosen in this budget, it's very straightforward. With
Key we Saver, we're simply not putting the government contribution,
the government subsidy in for those earning one hundred and
eighty thousand dollars or more. That's pretty simple to do
via ID. And with the Best Start Payment, which is

(47:34):
a payment for people who have babies, we're just lining
that up with what the regime already is for year
two and three. There's always been means testing there, it's
just been only for the year two and three of
the payment, and we're are liigning it a new one.
So those are simple changes. Collectively, they save hundreds of
millions of dollars. I think everyone just needs to remember
right now than anything the government's doing like that, we

(47:56):
are borrowing to do it, and that cannot go on forever.
We have to make savings if we want to invest
in the things that we.

Speaker 2 (48:02):
All under your it is, and that's that's part of
the problem. That forty six percent debt to GDP, that's
that's ruinous. We don't have enough room to move should
should something go wrong?

Speaker 8 (48:14):
Yeah, Well, what the projections show is that debt is
peaking a little bit lower than was being predicted a
few months ago at the half year update before Christmas,
but and then it is starting to come down in
the final year of our forecasts. We want to see
debt coming back down to forty percent of GDP because
we need a bit more of a buffer for a

(48:34):
rainy day than box refrish GDP.

Speaker 2 (48:37):
Where it wasn't that long ago when Stephen Joyce lift off.
It was nineteen that's right.

Speaker 8 (48:42):
And even after the GFC and the christ chich earthquake,
the highest debt got was twenty five percent. So I
think we just have to try that context. How much, Well,
because I got left with an absolute debt mountain by
the last loot. That's the reality of what's happened to here.
Not only did they leave an absolute debt mountain, more
than a hundred billion dollars more of debt with very
little to show for it, they left a structural deficit

(49:04):
in the box, which is they were structurally spending a
lot more than we were earning, and we're now having
to pair that back and correct it, and it's pretty
hard work, but we can do it, and we've put
out a plan that shows that we'll get there.

Speaker 2 (49:16):
Were you tempted to go harder?

Speaker 8 (49:20):
Well, I was always of the view that we should
look for as many savings as we could reasonably deliver,
because when you're borrowing to pay for the groceries, you
owe it. I think to New Zealanders to say, have
I really tested whether we're getting value for money for everything?
And there were some big calls in this budget. No
one's saying it's easy, but I think where we've got

(49:41):
to is the right balance, because for me it is
important we keep investing in education, we keep investing in
how those things matter to people, and they ultimately making
a difference to the Acommy.

Speaker 2 (49:49):
Do you don't give me your normal answer, which is
this is what I've been told by Treasury. Do you
believe the growth forecasts of an average of two point
nine over the next four years?

Speaker 10 (49:57):
I do.

Speaker 8 (49:58):
I look at our exporters and are well they are
doing right now? I can see that continuing. I have
the benefit of visiting really cool businesses across the country
and seeing their prospects for the future, and I look
at New Zealand compared to lots of other countries in
the world. Right now, we're safe, we're secure, we've got
great farmers, we've got lots of trading relationships. There's every

(50:20):
reason we can succeed over these next few years. But
we do need a government that's on the side of business,
and we absolutely are.

Speaker 2 (50:26):
Are we structurally limited? Do you think at about see
two point ninety three is about what we do in
the good days, if we can manage that over the
next four years, that this is an export lead recovery,
all of that's great news. Are we structurally limited to
doing anything better than that without sort of soaking inflation?

Speaker 3 (50:44):
Yeah?

Speaker 8 (50:44):
Well, look what Treasury says that we do come up
against productivity constraints when growth gets a bit higher than that,
And that's why we're doing this investment boost policy. That's
about acknowledging that one of the things that's held us
back traditionally is we've got low rates of capital intensive.
That is, our firms don't have as good a machinery
and technology as their international counterparts. How do we encourage

(51:05):
people to invest more in that while we're giving them
a tax break for investing in assets those are the
sorts of things that over the years, will make this
a more productive economy. But it's also things like having
better educated workers, having a better match up between business
and science, having resource consent laws that don't mean you
have to spend three years in court fighting to build something.

(51:26):
You know that stuff is waste for it gets in
the way of growth.

Speaker 2 (51:29):
The RB next week, are they going to come to
the party?

Speaker 8 (51:33):
I think they will. Obviously I'm not allowed to influence them,
but you don't need to talk to many economists to
hear that there's room for interest rates to ease further.
Certainly treasuries forecasts show that our budget helps create that room.
And I look around the world and I think that
the uncertainty still is out there, So I think the

(51:53):
Reserve Bank still has room to go.

Speaker 2 (51:55):
What do you, well, are you not influencing the Reserve Bank?
They can make up their own mind. What's neutral? You
and a half?

Speaker 4 (52:02):
Well?

Speaker 2 (52:02):
The reason I asked that is I think it's two
and a half to two seven five. And the reason
I think that is I think things are harder than
a lot of people understand.

Speaker 8 (52:11):
Yeah, well, I think the Reserve Bank thinks neutral is
a bit higher than that, but it'll be interesting to
see what they say next week. But I think the
key thing that we've seen recently is that interest rates
haven't necessarily transmitted through to people. You've still got a
lot of people who haven't gone on to a lower
rate yet, so we haven't had all the stimulatory effect
of the earlier cuts. So things should be flowing through

(52:33):
over the next few months and that'll be what the
Reserve banks.

Speaker 2 (52:35):
And that for you, then brings in the politics of
all of this because you look at manufacturing, manufacturers on
the move, exports as we know, are on the move,
services isn't, and sentiment isn't and you need something to
switch otherwise people come election to you are just going
to look at you and go, jeez, we're still in
debt and the place is still stuff. Let's give someone
else a crack.

Speaker 3 (52:55):
Yeah.

Speaker 8 (52:55):
Well, look, that's why I'm heartened by this forecast, because
what they show is growth really speeding up next year.
They show unemployment peaking the middle of this year and
then coming down again. They show a lot of job
creation happening. And when I'm out and about talking to businesses,
they say to me, look, the thing we need to
see is that the government's really on our side that
investment boost tax policy. It's a very clear indication that

(53:17):
we are. We'll get our Resource Management Act replacement this year.
We're going to have a succession of things that I
think will and gender confidence and will build a sense
of momentum. I can't stop international events making people a
bit wobbly. That is the reality of things.

Speaker 3 (53:34):
A lot of.

Speaker 8 (53:34):
Businesses look at the world and go, I'm not sure
I'm that confident right now, but I think that every
reason to be. This is a much better place to
be doing business than lots of other parts of the world.

Speaker 2 (53:43):
The under eighteen nineteen year olds who are unemployed, You're
going to mean test that parents. When's that announcement coming?
And why wasn't it yesterday? And when it does come,
the reason it wasn't yesterday is people are going to squeal.

Speaker 8 (53:56):
Well, it's a great policy, Mike, because I have talked
to parents myself who say it's pretty tough.

Speaker 2 (54:02):
But it depends where Nicola, don't play this game with me.
It depends when you where where are you going to
means test the mat Is it one eighty plus or
is it a lot lower? And a lot of parents
are going to go I can't afford to do that.

Speaker 8 (54:12):
Well, we only really want it to be an exceptional
circumstances that this policy doesn't apply, because our base expectation
is if you're a teenager, we expect agreement. If you
can't get a job, you should be in training or
an apprenticeship.

Speaker 2 (54:25):
You're talking to just how much, Nicola? How much does
a parent have to earn before you ping them?

Speaker 8 (54:31):
Well, Cabinet will make those decisions.

Speaker 2 (54:33):
You haven't even made the decision.

Speaker 8 (54:35):
No, we haven't made that decision. The final design of
the policy is yet to be made. But what we
are clear about is that it will be very difficult
for those teenagers to access a benefit. It will only
be an exceptional circumstances where they genuinely can't rely on
their parents for support.

Speaker 2 (54:51):
Is it one plus? Should it be one eighty plus?

Speaker 8 (54:54):
Well, I actually think it should be less than that.
Cabinet will obviously have to deliberate what we said.

Speaker 2 (54:59):
Do you think it's less than one hundred thousand dollars?

Speaker 8 (55:01):
Well, I think basically any parent doesn't really matter what
their income situation is, doesn't want to have to say
to their kid, look just live at home. It's fine.
Take take the doll take it, take the benefit from
the government. They want to be able to say, look,
get out there, do some training, get a job, because
that's actually where your future lies. And we're aspirational for you.

(55:22):
We don't want you just taking a check from the government.
And actually that's not a nice recipe for anyone.

Speaker 2 (55:27):
No, it isn't. But that number is going to be political,
isn't it a nice suspect that's why you've not made
the decision yet.

Speaker 8 (55:33):
Well, no, it's not that. It's just that we were
clear that this was a reform that we wanted to progress,
but we needed to finalize some of the details and
we'll look forward to announcing those in due course.

Speaker 2 (55:42):
Look forward to talking to you about it. Appreciate it,
Finance Minister Nikola Willis thirteen to two.

Speaker 1 (55:47):
The Vike Asking Breakfast Full Show podcast on iHeartRadio powered
by News Talks.

Speaker 2 (55:53):
That'd be turn away from it means testing is fine, Mike,
but the level is important. It's exactly why I was
asking your nice So I suspect that's a story for
another day, Mike. Where one hundred and twenty thousand dollars
a year house four kids. I wish this law was
around for my eldest, he's twenty five, still at home.
I can't work out what to do. There are many, many,
many parents in that same scenario. Nicola is one hundred

(56:13):
percent right. I mean, most parents you should be give
kick up the ass and telling them to get out
into the world. But if suddenly the bill's on you
and it's the big clue there was below one hundred thousand,
I mean a lot of this means testing has done
at one eighty plus on the top tax rate. If
you're any ninety five thousand dollars a year and you
got three or four kids at home and suddenly you're
expected to look after the kid because the kid can't
get any welfare, that's going to be political.

Speaker 4 (56:36):
Mike.

Speaker 2 (56:36):
I'm sick of listening to this government blaming the last
government about debt. Where would national have got the money
from during COVID or cyclone? Gabriel, It is a fair question,
but the answer is not about the amount or where
they would have got it from, the course they would
have borrowed it, but it's about what they would have
done with it, how they would have done it, and
how quickly they would have paid it back. The amount
of waste from the previous government and this has been

(56:58):
so ruinous for the economy. Was they literally just machine
gunned the place. They sprayed money all over the place,
all the businesses who took loans and have never paid
them back, and we're never expected to pay them back,
although technically they were, but they knew they wouldn't. There's
billions of dollars been flushed down the toilets that somebody
still owes I e. The government, I EU and I
the taxpayer. That was just waste. So it's not what

(57:20):
you do, it's how you do. It's the key, Mike.
I'm on a private school board fully support the increase
of the private school budget dedication. The funding has an
increased since two thousand and ten. Most private schools pay
more on GST than they receive in government funding. It's
such an easy chestnut for an ill informed or the
ill informed to make inaccurate comments about private school funding
without understanding how much private schools contribute to the country.

(57:41):
Couldn't agree more. That's a win for ACT. And of
course you got a remember if you didn't have private schools,
they'd all be in public schools ate away from it.

Speaker 1 (57:48):
The make Hosking breakfast with Bailey's real estate news dogs, they'd.

Speaker 2 (57:52):
Be probably not surprised. I'm just being told that the
video yesterday from Ramafosa Trump was showing them of the killings,
and Ramaphosa quite rightly. He's by and large and reasonably
well treated by the rest of the world for handling
it pretty well, given it was an ambush. He asked
where as this, and Trump said South Africa, which have
as I say, not surprisingly, turns out wasn't true. It

(58:14):
was Congo, so he got completely the wrong place. This
is the feedback. Smith and Coey very sad this week
that they're closing down an Auckland Icon one hundred and
forty odd years worth of business. But this is from
a person who I know and deal with, who does
business in the downtown Auckland area, says this. While much
has been said about the external pressures facing Smith and Coey,

(58:34):
CBD infrastructure issues, changing real to our habits, and rising costs,
the truth is that its rebirth was equally hindered by
internal failings. There was little of any meaningful shift in
sales culture, the opportunity to redefine what a department store
service could look like was missed. In a retail environment
where experiences everything. Smith and Coey remained stuck in the past, bored,

(58:57):
passive staff positioned more as deterrence than ambassttors. The focus
seemed to be on preventing theft rather than enriching the
customer experience. Now, I trust this person because, as I say,
he's an experienced operator, he's in the area, he does well.
I do business with him. He knows how to run
a proper business. Others have said something similar to me,
which is not to diss Smith and Coey at all,

(59:19):
but it is to try and balance the argument. As
much as it's easy to blame a council, and it's
easy to blame road cones and downtown Auckland is a
complete and utter dump. Do not get me wrong. It's
not always open and shut, black and white, right and wrong. Mike,
what other lot is going to run the country? The
other lot created this mess? Well, Graham, never underestimate people's

(59:43):
memory or desire for in difficult times, just a little
bit more large. Yes, with somebody else footing the bill,
there's a great power to that particular equation.

Speaker 17 (59:53):
The news is next, the news and the newsmakers, the
mic asking read fast with Bailey's real estate, your local
experts across residential, commercial and rural news talks head be.

Speaker 2 (01:00:08):
You is this like? Who am I thinking? This is Oasis? Yeah,
says isn't it? It's not, but that's who it could be.
It's Voom now.

Speaker 12 (01:00:26):
Boom is a.

Speaker 2 (01:00:27):
Band that's been around for two decades through a local band,
in fact, not only the local deal from Auckland. Nineteen
years since their last album. The last album was two
thousand and six. They call it They're much loved two
thousand and six record, Hello are you there? Is it
much loved? Honestly?

Speaker 6 (01:00:49):
Oh?

Speaker 18 (01:00:49):
Sure some people are like that.

Speaker 2 (01:00:51):
Since then, because obviously you're asking what have they been
doing since then? Well, they've been jamming and gigging and writing,
rewriting and sifting. Now the label is Flying None, the
famous Flying None, who said, how about you guys get
together all this material you have been mucking around with?
They sound like eighteen and nineteen year olds. He should
be means tested by their parents. Basically, shouldn't make go

(01:01:12):
get a job anyway, Package it all up and let's
see what we can do with it.

Speaker 18 (01:01:17):
This is what's going to happen, is going to be
less boom because it was that.

Speaker 2 (01:01:21):
Was most food. Because parents will have kicked them out
of the house. Written, recorded in a variety of locations,
a plethora of different equipment, over decades and seasons and
life stages. Front Man's called Buzz. All of them Buzz. Murray,
Nick and Josh are multi instrumentalists and producers in their

(01:01:42):
own right. They are produced after the last nineteen years,
fourteen songs, which is less than a song a year,
which is and you wonder why we've got a productivity problem,
And there it is right there, fourteen songs out of
nineteen years, thirty two minutes and fifty seven seconds. Even
when you round this up to thirty three minutes. That's
These guys have been and around for t.

Speaker 1 (01:02:01):
The Week in Review with two degrees bringing smart business
solutions to the table.

Speaker 2 (01:02:08):
Now, Oh this is Oh, this is just going to
get right now. Don't come in here, I know what
I'm doing. Don't pound in here and pretend in front
about and Tim Wilson's Willison Kate Hawk's be good morning
to both of you. The reason I had a technical
problem there is because I don't need to use the
phone anymore for you guys, because I use the WhatsApp,
and so I don't need to do the special switching.

(01:02:30):
But I didn't do the switching because I didn't need
to do the switching, but because you're on the phone today,
not the WhatsApp, I didn't need to do the switching.
But I only got told this last minute, and then
all of a sudden I was in a panic.

Speaker 11 (01:02:41):
But you counted up very well.

Speaker 2 (01:02:42):
Yeah, you wouldn't have known anything went wrong there.

Speaker 10 (01:02:44):
You wouldn't have known.

Speaker 2 (01:02:46):
And the reason we're doing it on the phone and
not the WhatsApp, tim, is because you, your boomer, have
gone and messed up your WhatsApp.

Speaker 14 (01:02:53):
You wash your mouth out with culta. So I am
actually kin it's as you well know, so take it back.

Speaker 2 (01:02:59):
And so all right, GenEx, you're gonna mucked up your WhatsApp?

Speaker 3 (01:03:02):
How do you?

Speaker 2 (01:03:03):
How do you reckon app?

Speaker 3 (01:03:05):
Well?

Speaker 14 (01:03:06):
Look, look it's it's it's a long it's a long story.
It's a long story. But I've got a question for you.

Speaker 11 (01:03:11):
Are you ready?

Speaker 3 (01:03:12):
You're ready? Yes, Okay, here we go.

Speaker 14 (01:03:16):
Do you hear that?

Speaker 10 (01:03:17):
No?

Speaker 2 (01:03:18):
Well, you sort of.

Speaker 14 (01:03:22):
What kind of power drel is that.

Speaker 19 (01:03:25):
Sounds like singing out?

Speaker 2 (01:03:26):
It sounds like it sounds it's battery operated.

Speaker 14 (01:03:30):
You got it, it's getting close. It's how many vaults
on the battery?

Speaker 2 (01:03:34):
It's fourteen?

Speaker 14 (01:03:36):
No, it's an eighteen vault and let's keep going.

Speaker 2 (01:03:38):
And it's Makita.

Speaker 14 (01:03:41):
It's a Riobi.

Speaker 2 (01:03:43):
Wasn't far out.

Speaker 19 (01:03:45):
Though, What sort of man segment is that unappearing?

Speaker 2 (01:03:51):
One of the one of the best things I ever
saw on television was a guy and he was on
top Gear. He was a guest on top Gear and
he was a I You could play the shutting of
a door to and he would tell you what.

Speaker 14 (01:04:04):
Car it was the car.

Speaker 2 (01:04:06):
And not only that, but they played a whole bunch
of random doors, and I mean really random, and he
got every single one of them. That's a party trick
for the ages. What would you like to contribute if
it's a bit masculine for you feminized it up?

Speaker 3 (01:04:22):
What do we got up?

Speaker 19 (01:04:24):
Well, speaking of masculine, I was actually just wondering this morning,
what on earth New Zealand media, what did we do
before Brad Olson in terms of financial commentary, Because he's
the man, isn't he I mean, I don't know what
we did.

Speaker 2 (01:04:37):
He has come of age because I remember, was that you,
Tim that launched him in some sort of way. Can
I give you credit for that? Well, you did. You
have some sort of hook with him early on, and.

Speaker 14 (01:04:49):
I'll tell you what we served away though. He did
a series of lectures during COVID because you couldn't have
big events, and so we did a series of lectures
around the country on the economy and he was just fantastic.

Speaker 2 (01:05:02):
I feel that's where he came from. I feel you
launched him into the world because then you've got to
remember his eyes. He's only seventeen or eighteen years old.
So back in COVID he was still at high school.

Speaker 14 (01:05:14):
He's going to text me and say, you're running me down.

Speaker 2 (01:05:18):
I'm not running it. No, it's fantastic.

Speaker 14 (01:05:21):
He was well and he was like yeah, he was
like the lead guy into metrics. I think just as
he graduated from primary school.

Speaker 2 (01:05:28):
Yes, he's a real talent. Can I ask this question then,
while we're talking about economists, I'm very well raised, Katie,
because it reminded me of Cameron Bagriy, who I do
have some time for. He was on one of the
news bulletins this week via zoom on television. And he
was in front of his window and out the back
of his window, and I might be superficial that I

(01:05:48):
make judgments on people, especially economists, by their surroundings. And
out the back of his window in his yard was
a dead tree.

Speaker 19 (01:05:57):
Now that is such a new thing to spot. You know,
your house the first thing like that when he walks in,
poor agents, haters. He goes in and he's like, you know,
you can go into the most beautiful house in the
world of Mike, who go there's a light bulbout. Now,
these are the sort of people who, if they haven't noticed,
is a bulbout and there's a light missing, I don't

(01:06:19):
want to buy their house because they're obviously not looking
after it.

Speaker 2 (01:06:21):
They're obviously I got standards. But I asked you this question.
I ask you this question.

Speaker 14 (01:06:27):
But this is is that, this is this is why
you're number one, because you've got standards. It's scrutinizing Nicola
willis why is there a bulbout? Why are there a bunch?

Speaker 2 (01:06:35):
Why is there a bowl? Then exactly, but I'm looking
at Cameron Baggery and I'm seeing his dead tree in
his backyard, And I'm thinking, can can a man with
any sort of credibility you can't run his backyard? Can
he run a country?

Speaker 19 (01:06:49):
He's probably so busy running other stuff he doesn't have
time to run in his backyard.

Speaker 2 (01:06:54):
Okay, listen, I'm going to put you on hold now
because we're using the phone system today because of old
gen exit. Tim Kate talks with Tim Wilson thirteen past.

Speaker 1 (01:07:01):
The Mike Asking Breakfast Full Show podcast on iHeartRadio powered by.

Speaker 2 (01:07:06):
News Talks Be New Talks at sixteen past eight The
Week in Review.

Speaker 1 (01:07:11):
With two degrees fighting for fair for Kiwi business.

Speaker 2 (01:07:14):
I don't know whether to be insulted or you're just
being nice, Mike. Lots of trees look dead this time
of year. It's probably deciduous, could have been deciduous, Mike.
Was it dead or tunnel? I know a dead tree
when I see one versus a deciduous tree. Believe me
it was dead, Mike. Congratulations to Katie's daughter for her
university graduation. My daughter was on stage after her in brackets.

(01:07:39):
I think it was her, which of course it wasn't.

Speaker 19 (01:07:43):
That'll be my niece, that'd be my beautiful talented, successful niece.

Speaker 2 (01:07:49):
But congratulations to her as well.

Speaker 19 (01:07:52):
Congratulations of Jemima.

Speaker 2 (01:07:53):
Okay, how much can two key social questions for you, guys?
Tim you first? So the prim turns up this week
in the studio and he tells me that he's watched
some social media of me over the weekend that Katie
put out there and thought it was very funny. Plus
also he's he's also he started watching he's watching Mobland.

(01:08:14):
How much frippery is too much of you trying to
run the country?

Speaker 11 (01:08:21):
Good question, Good question.

Speaker 14 (01:08:22):
I'd say pick pick one and go with it. But
Mobland or Katie social Media? I'll go with Katie social
media every time.

Speaker 19 (01:08:29):
Well, when you say Katie social media, I only have
Instagram and I don't think he follows me on Instagram,
so maybe his wife does. I'm not sure the kids
showed it to him.

Speaker 2 (01:08:37):
My point is, does a prime minister in a troubled
country have time for light entertainment over the weekend?

Speaker 19 (01:08:44):
Well he should. He should have some ability to switch
off at some point, because we know that the previous
government's spent a lot of time switched off, because every
time they turned up for interviews with you, they were
I haven't seen that. I haven't read that. Sorry I had.

Speaker 2 (01:08:56):
Don't know that exactly. And we think we ran into Amanda,
miss luck and yesterday, don't we. We don't know because
a very nice lady Tim we were off to marriage
counsel and we were just walking in.

Speaker 14 (01:09:11):
Wait a minute, I thought I was your marriage counselor
what's going on?

Speaker 20 (01:09:14):
Well at he.

Speaker 19 (01:09:17):
Was accompanying me to or blood tests? Very sweet, very
very kind.

Speaker 2 (01:09:21):
Anyway, and a woman bounces out from the doctors like
bounces out in like fitness gear and incredible arms. We
saw the arms come first, and she said hello, are
you like in like so much energy and vibrancy you
couldn't believe it, And so we thought, who was that? Anyway?
I think we think we think this was missus Luckson.

Speaker 19 (01:09:41):
I'm pretty sure because she would be a friendly person.
And Mike did his standards talking to stranger's routine where
he said, hello, how are you or something? Why do
you do that?

Speaker 2 (01:09:52):
Why do you talk like it's a default position. The
second question for you, Katie, how much did we pay
for our dog?

Speaker 19 (01:10:01):
Oh gosh, I'm not sure you're allowed to know that.
I think we keept that on the download for you didn't.

Speaker 2 (01:10:06):
There was a segret there's a story for another day.
But yeah, but what roughly was it? Because Little Sammy's
off this weekend to get his dog.

Speaker 19 (01:10:18):
Sam was getting a dog.

Speaker 2 (01:10:19):
He's getting a dog. So Little Sammy and his girlfriend that, well,
let me build up to this because this is the
important point. I just wanted to know what we paid
for ours. He's driving to tower On which we got
our dog from Towering, so there's a lot of dog
breeding going on and Towering. Clearly he's paid his Argentinian ridgeback.
So yeah, so he's paid Argentinian ridgeback is very similar

(01:10:44):
to like a rot wheeler, like it's quite a powerful,
large dog.

Speaker 19 (01:10:50):
Living in an apartment.

Speaker 2 (01:10:51):
He's still living. This is part of the problem. So
Sam's living in his part. He's got no he's got
no dining table. He's got no dining table because he
can't afford a dining table. But he's got money on
Argentinian ridgeback. So what's he paying three and a half greened.

Speaker 14 (01:11:10):
Yeah, that's not a dog, that's a car.

Speaker 11 (01:11:12):
He could have three and a.

Speaker 2 (01:11:14):
Half gate this is but he couldn't put it well,
he probably could put it in the apartment because he
hasn't got you.

Speaker 14 (01:11:20):
Know what it would fit in the in the list.
He drives it into the apartment. He's got a table
as well.

Speaker 2 (01:11:25):
He's got a table, a car, no Argentinian ridgeback and
I said, the dog's going to eat the furniture. That's really.

Speaker 18 (01:11:37):
He's quietly seething next to me because it seems like
some of the facts of the story may have been
represented by the host.

Speaker 19 (01:11:47):
I am slightly concerned about going.

Speaker 2 (01:11:49):
I don't know you believe he's going. Look, it's the
truth is more embarrassing. He has paid three and a
half thousand dollars. He is going to towerong. But it's
a coccas poole. It's a it's a little cocas poodle.
It's a little hairdressers coccas poodle. And it's the funny.

Speaker 19 (01:12:13):
It isn't.

Speaker 3 (01:12:15):
Just make that up.

Speaker 18 (01:12:16):
What's funny is that he's trying to correct Mike again
and he's yelling out, it's a minute's a Lebros Boodle's
it's a Lebros poodle. He's yelling out, it's.

Speaker 2 (01:12:28):
Not a cocas poodle.

Speaker 19 (01:12:32):
Is not even apod will be absolutely adorable.

Speaker 2 (01:12:36):
That's what he says, and with a speech impediment, he goes,
it's absolutely adorable. That's what he said.

Speaker 14 (01:12:43):
He's speechediment.

Speaker 2 (01:12:47):
It's it's just when he says, les poodle.

Speaker 18 (01:12:53):
To believe it's only been a week since bullying days.

Speaker 14 (01:12:56):
Yeah, I know exactly. I think Jay says to put
on this think shoot a.

Speaker 2 (01:13:01):
Hey, listen, this secret, as always has to come to
an end, and it has now. It's nice to see
you guys, and see you next week. Fix up fix
your WhatsApp, Tim, then I won't be able to muck
up the phone again. Tim Wilson, Kateawks p eight twenty two.

Speaker 1 (01:13:15):
The Mic Asking Breakfast with a Veta Retirement, Communities News,
togs Head b Now.

Speaker 2 (01:13:20):
If you've been hanging out to your favorite big brand
sports nutrition essentials are on sale, then have we got
good news for you. Chemist Warehouse, get into it the
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(01:14:04):
The great Chemist Warehouse mayhem megasale offers in four June.
T's and sees and exclusions apply. Exciting news. We knew
the news Supercars is going to do it two times
Taupo and now christ Church Rupuna and christ Church which
is fantastic over the next three years. So it's been
officially announced this morning from Louise Upston's office who is
the Minister for Supercars, and the Government is investing five

(01:14:28):
point nine million from the Major Events Fund to support
the events in both Taupo and christ Church for the
next three years. So that's government money, taxpars money. You're
yours are my money, as far as I'm concerned, well
spent because if you look at the crowds at Tawerpa.
If you look at the impact into the local economy,
it goes gangbusters. So next to bit for supercars by
the Ways, next weekend Beginning Maddy Payne. I think the
beginning Meddy Pain. They're looking at Maddy Paine on News

(01:14:50):
for You in a couple of moments and then Murray
Olds for.

Speaker 1 (01:14:52):
You the only report you need to start your day
on My costing Breakfast with a veto retirement, Communities, Life
your Way News dogs head be like.

Speaker 2 (01:15:03):
My wife bought a miniature poodle for three and a
half thousand dollars. It got rehomed at no cost to
the recipient after she discovered it had high anxiety. Also
wouldn't shut up by it. Beware, Mike, you're a bully.
Although I do enjoy your banter, I guess that makes
me want too. Yeah. Probably a lab poodle cross are
the best dogs used a lot in visiting the elderly
and mental health patients. Sam must be kind to choose

(01:15:25):
this dog. There you go, Mike, tell Sam a cockapoo
dog breed.

Speaker 18 (01:15:32):
Are now cockapoo?

Speaker 11 (01:15:33):
That is a breed.

Speaker 2 (01:15:34):
Cockapoo are completely stupid. Class is one of the craziest
dogs and trainers recommend you don't buy them.

Speaker 18 (01:15:41):
It's actually a miniature labradoodle. I was saying labraspoodle because
that's the dog I've got.

Speaker 2 (01:15:46):
Of course, it is just surrounded by it. Look, this
is this show. I mean, what's the matter with this show?
We've got a what have you got? A cockspoodle?

Speaker 18 (01:15:54):
No, a miniature labraspoodle, labraspoodle?

Speaker 2 (01:15:57):
Got a miniature labraspoodle. You've got a cockon poo.

Speaker 18 (01:15:59):
No, he's getting a labradoodle and poodle.

Speaker 2 (01:16:03):
And I've got a mal teaser. I mean what I mean? What?
What a bunch of losers? Twenty two to.

Speaker 12 (01:16:09):
Nine International Correspondence with Ends and Eye Insurance Peace of
Mind for New Zealand Business.

Speaker 20 (01:16:15):
Marry Olden's WETHERUS morning mate, god A, Michael, good morning
to you.

Speaker 2 (01:16:19):
There's weather you' bean having seemingly in New South Wales
parts of all year. What on Earth's going wrong?

Speaker 3 (01:16:27):
Well, I'm not sure it is unseasonal.

Speaker 20 (01:16:29):
I mean obviously started winter, going to get a bit
more rain, but this there's been a low, low pressure
trough sitting off the coast for well what's Friday now?
So it started last weekend and I've had record rainfall.
I mean not since nineteen hundred and twenty nine was
the last record flood in Trre far exceeded this week
that since nineteen twenty nine, and it hasn't been confined

(01:16:51):
to that part of the mid North coast. I meant
up and down the coast. Three people dead, there are
others missing. This morning, fifty thousand people have been cut
off on either isolated properties, you know, big farms. They
can't get out all these little communities up and down
the rivers.

Speaker 3 (01:17:06):
You've got these little villages, you.

Speaker 20 (01:17:07):
Might only have fifty people in some of them, and
they can't get out either because you know, the river
levels are up so high. There have been hundreds of rescues,
absolute dickheads, pardon my French. The State Emergency Service, the rescue.

Speaker 3 (01:17:20):
Was are volunteers.

Speaker 20 (01:17:21):
They're going out time after time after time to get
people out of trouble. They've driven into floodwaters idiots. The
road might not even be there anymore, and they are
just so frustrated the people who who were tasked with
these rescues, because they put themselves at risk try to
help these idiots. So there's been a lot of frustration,
a lot of anger. The federal government's helping out. They've

(01:17:42):
got army personnel coming in to help. You've got fodder drops,
you've got aircraft helicopters out there fishing old people out
of homes because they're sitting on the kitchen table as
the water's coming up.

Speaker 3 (01:17:54):
It's just absolutely off the chart.

Speaker 2 (01:17:56):
Tell you why I'm interested, purely from a selfish region.
I watched the the pastern of the weather and it
seems to come in from the north and hook into
New South Wales. Thus in the middle of the Tasman
putting up a barrier because the northern part of New
Zealand has had the most one spectacular summer and two
of the most incredible autumn slash in the winter. For

(01:18:18):
this last week in the northern part of the country,
it's clear blue skies fifteen sixteen seventeen degrees every single day.
It's just ridiculous. Meantime, I'm looking across at you guys swimming.

Speaker 20 (01:18:29):
Indeed, swimming is right, but and you know we're going
to be swimming for a fairoh while the weather's contracting south.
I've just hung up from the Weather Bureau of Angus Hines.
He's another Kiwi fella here. I've been over here for
a bit. He's based in Melbourne, so he's got his rich,
thick New Zealand accent across the air waves.

Speaker 3 (01:18:45):
This morning.

Speaker 20 (01:18:46):
The weather is contracting south, so they're going to get
on the News World's South Coast today.

Speaker 3 (01:18:50):
In Brisbane.

Speaker 20 (01:18:51):
I think it's twenty five degrees in sunny, so you
only have to go south of the border, and you've
got river levels that I've not seen before, so it's
absolutely crazy. But when you think about Brisbane to Sydney
is the lect of New Zealand, you can get some
idea of the scale of the geography involved, so you know,
different weather patterns I suppose aren't that unusual. I guess

(01:19:12):
over that sort of length of coastline. But it has
been all hands to the pumps literally.

Speaker 2 (01:19:17):
I was watching a Little Proud yesterday and what I've
never seen such a mess in my life. One it
fell apart and then it fell apart and I couldn't
work out So why didn't you just go Look, we
got smashed. You liberals particularly got smashed. Go away, sort
out a few policies, come back and we'll have a
chin wag instead of the whole we're not dealing with
you anymore. And then having done that, they then go,

(01:19:40):
oh dear, this is a bit of a mess. Let's
have some crisis talk. So what the hell's going on?

Speaker 20 (01:19:45):
Okay, well there's a bunch of different things to unpack there.
I wasn't aware of this, but David little Proud, the
National's leader, the junior coalnition partner, Susan Lee, the brand new,
freshly minted Liberal leader, they hate each other. And that
goes back to two thousand and one when Susan Lee
stood for the Liberal Party in the New South Wales
country seat of Farah and she won, and she's there

(01:20:06):
twenty four years later. So National Party members are the
country members over here. They've got long memories. They don't
like Susan Lee because she pinched a Bush seat for
the Liberal Party. So that's that background of personalities. Little
Proud is a little man. He's just a clown of
a bloke. Barnaby Joyce, the National Party had some sort
of presence. This guy, this Pence, narrow, little bloke from Queensland.

(01:20:29):
He was you know, he threw his toys out of
the cot on Tuesday and when all of a sudden
they realized, hang on a second, we're the junior. This
is the tail waggon that we're trying to wag the dog,
and he and his team they scuttled back to the
National Party caucus room, all eleven of them or something.
They realized all of a sudden they wouldn't get the
pay rises that come with being shadow ministers, and they said, oh,

(01:20:49):
hang on a second, we actually haven't got any saying
in parliament. In the Senate, they didn't even have party status.
So they said, oh, hang on, Dave, you better go
back and kissed Susan on the backside. Sorry, let'skiss and
make up. It is absolutely a shambles. And just imagine
if the Conservative side of politics out of here splits
into two little rumps, Anthony Albaneza will be in Prime
minister until.

Speaker 2 (01:21:10):
Fifty Yeah, exactly, it's funny.

Speaker 3 (01:21:13):
It's stupid.

Speaker 2 (01:21:14):
The Michelle Bullock, who I've got a lot of time
for as the RB governor. So she cuts again and
this commentary she ran that there's more where that came
from if we need it. That indicates to me that
things aren't that flash, which then dovetails into the election
and the conversation you and I have had a million
times leading up to it. That elbow's a bit on
the nose, the economy is not that good and he

(01:21:34):
might be in for a close run thing. Contrast what
actually happened. These are fascinating times.

Speaker 3 (01:21:40):
Oh, there's no doubt about it.

Speaker 20 (01:21:42):
To your first point about Michelle Bullock, what a breadth
of fresh air. I mean, she's actually out there addressing
the media after the Reserve Bank decisions, explaining what the
Bank Board has done and why they've done it. Inflation
is within that target band that's come down, notwithstanding the
fact employment's been bloody strong over here. Jobs are out
there to be had. So that was a big worry that,

(01:22:04):
you know, the very strong, continuing strong employment would really
put in upward pressure on inflation. That hasn't happened. She's
very happy, the board is very happy with where we're at.
The big well, I suppose there are two big things.
The enormous spending promises made by labor and by the opposition,
of course, and the lead up to the election, how
are we going to pay for those? And of course
Donald Trump and the tariffs. What's going to happen globally

(01:22:25):
because Australia is a trade dependent economy. We need other
markets to buy our stuff, and you know China's going
to keep buying. But you have to look beyond China
because if China's going to be whacked with the US tariffs,
that're going to be buying as much iron ore and
coal and whatnot.

Speaker 3 (01:22:39):
So look it is. There are many balls in the air,
but I think you're one.

Speaker 20 (01:22:43):
Hundred percent right, Michelle Bullock a very capable set of
hands at a very difficult and challenging time.

Speaker 2 (01:22:49):
You're a very capable set of hands as well, Murray,
and good looking. So you have a good even good week.
Is nice to see Murray els goss A Testament eight
forty five.

Speaker 1 (01:22:58):
The Mike Asking Breakfast Fall Show podcast on iHeartRadio powered
by News Talks.

Speaker 2 (01:23:03):
At B Mike Dannel and Vicargoll at the Oyster Festival
wanted into an impromptu performance by Jenny Mitchell, who I've
never heard of. What A voice talked to her after
the show suggested she should see if she can perform
on your show. Apparently she already has when she released
the previous Helping Me she has. We checked that house
back in twenty twenty two, she has a new one out.
She was with Jack on Saturday morning recently. Mike, how

(01:23:25):
can you give the budget a seven? It's marking the
week when government debt our debt is increasing by seventy
three billion by twenty twenty nine. We all know there's
a waste in this budget. But rather than cutting, we
just keep borrowing more and more. It's a fair question,
and I would have if they had gone harder, I
would have given it an eight or nine. But you've
got to understand in any given budget there's a political component,

(01:23:47):
and the political component is that we are in so
much fiscal trouble that really cutting to the bone, like
really going hell for leather to doze, it would cost
the government political support. Because as much as you and
I I might you know, like to cut our cloth
appropriately in a conservative fashion, there are no shortage of
people who go I want some money, I like some money.

(01:24:08):
I am reliant on money. You know, this working for
families thing is John Key once called it communism by stealth,
and he was right. And you've got part of the
announcement yesterday. It was fourteen dollars. There's one hundred and
forty two thousand families who suddenly got fourteen dollars more
and that's one hundred and forty two thousand families ago.
Thank you very much. I'll take that. And if you

(01:24:28):
went to them and said, nah, you can give us
that back. And by the way, working for families is off,
they go what happened there? And there's a political component,
so you've got to take that into account. I note
this week, interestingly enough, they have announced or they had
a boat. American Football NFL. They had a boat on
a number of things. One of the things they kept
was the tushbush, which would be follow NFL is a
weird thing. And I won't explain it if you don't

(01:24:49):
follow NFL because it doesn't matter. But it's slightly controversial.
I don't see why it's so controversial. It's a play.
It was made famous by the Philadelphia Eagles. They're very
successful using them toush push play, and there was some
sort of suggestion it could be gotten rid of a
lot of owners voted to get rid of it, but
when it came pushed came to shove, they passed it.
So you did there, Well, yeah, I'm so clever. I

(01:25:11):
didn't even notice anyway. More importantly, they voted to allow
their players' professional players to be available for flag football,
which is going to be at the Olympics. As of
twenty twenty eight in Los Angeles, only one player per team,
although players chasing the origin of country origin they may

(01:25:33):
well end up obviously being more than one player per team.
But nevertheless, flag football question, is that a sport? Not really?
It's like touch football. If you put touch football in
the Olympics, would you go, that's not serious, which is
essentially what flag football is, and you'll have people like
Patrick Mahomes playing touch football at the Olympic Games. The
Olympics is not right. And that's before I get to pickle,

(01:25:54):
which I'll come back to in a moment. Ten to
nine The.

Speaker 1 (01:25:56):
Mike Hosking Breakfast with the Range Rover Villa tobs some.

Speaker 2 (01:26:01):
The thing about it over the weekend. If you're looking
for a change of career, you might want to look
at Hire a Hubby. So they've been around for over
twenty five years now Hire a Hubby. They've helped deliver
quality maintenance or renovation services to homes commercial properties all
over the country and now it has never been easier
to work with them because Hire a Hubby. You have
got opportunities at the moment for you to run your
own franchise. So when you join Hire a Hubby as
a franchisee, you're able to turn your practical skills into

(01:26:24):
basically a thriving business venture. So you become an integral
part of helping everyday keewis transform their homes into a
dream haven that they've been wanting. So win for you,
win for them. You get to help people get real
value out of their property. And at the same time,
of course, you get the opportunity to be part of
a network about the successful franchisees. And don't forget about
the flexibility that you're afforded. There's no limit to how

(01:26:44):
successful your business can be. Basically, you're taking control of
your life. You're your own boss to dream come true
for many people. So if you want some more information,
here's where you go. Hire a Hubby dot co dot
NZ Hire a hubby dot co dot nz pasking, I'm
thinking be a beta in VHS here. So the biggest
franchiser of Pickle, which is Pickler go to odd twenty

(01:27:08):
locations in Japan. They've announced overnight they've sold five hundred
locations worldwide. Pickle's huge, particularly in America. Now, pickle is
the small court with a special batan a special ball,
as opposed to paddle, which is an equally smaller court
when I say smaller court from a tennis court, but
it has walls, so it's sort of more like squash.

(01:27:29):
So it's pickle the paddle, And my argument is the
two cannot coexist and it's Beata Vhs all over again.
So you've got to pick a site because you invest
in both, someone's going to be unhappy. Five minutes away
from nine.

Speaker 1 (01:27:42):
Trending now with Chemist Warehouse, Maya megasaled.

Speaker 2 (01:27:46):
On now Dyson, this is too exciting for words, Sir James.
He's launched this in Japan.

Speaker 13 (01:27:52):
Each of these that the air app, the original supersonic,
supersonic Neural and the supersonic car all have a diameter
of thirty eight millimeters and you're in fact holding the
motor in your hand. We've now done another product that
is also thirty eight millimeters and diameter and it's the

(01:28:14):
world's slimmest vacuum cleaner.

Speaker 2 (01:28:21):
That's low key Japan. It's called the Pencil vac It's
just a tube, just a skinny little tube and it's
got four rotating fluffy cones on the end. And do
you know what Dyson have called the four rotating fluffy
cones on the end fluffy cones.

Speaker 13 (01:28:39):
The other thing we've done is to expose the edges
of the cleaner head so that you can go right
into the edge of a wall and clean right up close,
because all that's touching the wall is these soft fluffy bits.

Speaker 2 (01:28:58):
See I'm under that. Because they're cone shape, you don't
get any hair tangled in the either. It's genius. The
pencil back, it's not on sale yet, it is coming
soon and I will be buying several. It sounds amazing.
The only thing they've made that I don't is the fan. Yeah,

(01:29:18):
if you've seen look it up, the circular fan. It's
too noisy, makes too much noise. Apart from that, no
one's a bigger Dison fan than me. Monico, What do
you reckon this weekend? Monico? You can't pass it Monaco.
So qualifying at Monaco is everything, So where we're waiting
for the best. And also, by the way, statement of fact,
worry is when they went and beat the Raiders, because

(01:29:38):
the Bulldogs lost last night, Top of the Table, Top
of the Table on Monday. I'm going to talk about
being top of the table on Monday for at six o'clock.
So we'll look forward to your company, think happy days.

Speaker 1 (01:29:50):
For more from the mic Asking Breakfast, listen live to
news talks that'd be from six am weekdays, or follow
the podcast on iHeartRadio.

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