Full Show Podcast: 25 February 2025

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
New Zealand's voice of reason is Mike the mic Hosking
Breakfast with the range Rover villa designed to intrigue and
use togshead.

Speaker 2 (00:09):
Be given to day Andrew Bailey and whether this thing's
been blown out of all proportion the teacher numbers cock
up in the announcement to fix it. We got good
news from the tourism hotel sector. Prime Minister's in before
he hops on the big Bird to Vietnam, Scott McLachlin
ahead of this weekend's Indie car returned Catherine Field rodin
Little they're in Europe for a year as well Oscar
Tuesday morning, seven past six. Like so many things the

(00:30):
Trump administration are doing right now, there is a seed
of a good idea and the Musk email asking what
it has people do each week. Obviously over all that's insane.
It achieves nothing. No one's reading them. It's not a
disciplined exercise, well targeted with a honed in outcome in mind.
It's a mass shocking or piece of nuttiness that goes
along with all the other nuttiness we've seen from Musk
of late. By the way, given how many cars Tesla

(00:51):
are currently recalling. We might like to ask elon just
how much attention he's paid to his car firm lately,
and how all the customers who went and got a
Tesla only to have to get back the feel and
whether he was actually paying attention to his job or
just being a knob at sea pack with a chainsaw.
Small fun fact, Tesla recalled more cars last year than
anyone according to motorwe dot com. How come he can't

(01:12):
build a car properly? And if he can't, how can
he be trusted to be in charge of a mass
reorganization of the public service. But as an idea, the
concept of checking off five things you did last week?
How many would one have trouble too put five things down?
But if they were honest, wonder if a few weren't
a bit non essential or three look at just what
it is they do for a living and come to

(01:33):
the conclusion that what they do isn't interesting or important
or perhaps most importantly, enjoyable. COVID was a blessing in
that sense, wasn't it? As it seems a lot of
people genuinely ask themselves the meaning of life, or at
least parts of life, and decided they were trapped, so
did something about it. Change of job, change of outlook,
change of company, change of country. Working from home, which
was a change has turned out to be bad news,

(01:53):
but seems a permanent part of the new landscape. Maybe
we should all get an email every now and again
to focus the mind. Life is short. How many are tripped?
How many aboard? How many do stuff that goes nowhere?
How many filled time with nothingness? How many would actually
benefit from that level of honesty and accountability.

Speaker 1 (02:11):
What news of the world in ninety seconds.

Speaker 2 (02:15):
Would get together? In cave of world leaders, Zelenski doing
his best to rally them at the word.

Speaker 3 (02:19):
Beginning, they said that they are not occupying our authorities,
that they defend Russian speaking people.

Speaker 4 (02:27):
That's why I think that stony.

Speaker 5 (02:30):
And people have these risks if we will fall down.

Speaker 2 (02:35):
Justin of Canada joining that general vibe that we need
to spend more defending ourselves.

Speaker 6 (02:38):
We have more than tripled defense spending on the path
to twenty thirty and we're on our way to two percent,
and we know we're going to have to continue to
do more and more in an uncertain world, and Canada
will be there as to how we will be there.
We will work with our neighbors on it.

Speaker 2 (02:54):
But Kristen of Estonia, she's into.

Speaker 4 (02:56):
It well, is to go zoo.

Speaker 7 (02:58):
Five percent of CDP d xda's probably in the air
four already, and we know that independence is invaluable.

Speaker 4 (03:07):
That's why I'm.

Speaker 8 (03:08):
Here in a sterner celebrating Gastna's birthday.

Speaker 2 (03:12):
Kira Britain zoomed in from India, where he's looking to
reach out trade talks. He's all over the boots on
the ground.

Speaker 8 (03:17):
The UK is ready and willing to support this with
troops on the ground, with other Europeans and with the
right conditions in place, and ultimately a US backstop will
be vital.

Speaker 2 (03:31):
The big concession yesterday from Zelenski was if we get
NITO membership, I'll quit. Well, that's not happening.

Speaker 9 (03:37):
I do not see the United States having Ukraine enter
into NATO and then having United States troops essentially obligated immediately.

Speaker 2 (03:51):
Also in Europe, but in Germany specifically, posts about Mitz
is the winner. He's off to deal with the socialist losers.

Speaker 10 (03:57):
With three hundred and twenty eight seats out of six
hundred and thirty, we can form a grand coalition Conservatives
and Social Democrats and that's exactly what we want and
the board has now given me full support for the
talks with the Social Democrats.

Speaker 2 (04:11):
Finally, we have statistics from the National f GMC in
to what's that, Well, it's a children and Family services group.
In the past decade they've received over fourteen thousand witchcraft accusations,
the most frequenter of which is the people accused of
using witchcraft to inflict financial or health misfortunes on others.

(04:32):
Not sure what you do with it these the world
of ninety Yeah, the whole musk thing's falling apart. So
yesterday was Kesh for telling the FBI. Today it's the
State Department of the Pentagon. They've all issued their own
emails saying you know that idiot musk, don't worry about it.
Eleven past six.

Speaker 1 (04:49):
The Mic Asking Breakfast Full Show podcast on iHeartRadio powered
by News Talks IVY.

Speaker 2 (04:58):
Singapore's done well yet again inflation. They seem to have
it well and truly unlike potentially this country and certainly
Britain and maybe America and kind of Australia, they've increased
one point two percent year on year, down from the
revised one point five core inflation, which is the one
we're interested in, zero point eight percent year on year,
down from one point eight, so they seem to be

(05:18):
rolling nicely. Fourteen past six and jere Am I Wealth
Andrew Caller had good morning, Good morning, Mike. Billion dollars
a lot of money. Twenty nine percent discount. That's a
good discount, isn't it.

Speaker 5 (05:30):
Yes, well, they did have to offer a healthy intent.

Speaker 4 (05:32):
Now what are we talking about? Well, the week has
started with a flurry of activity.

Speaker 5 (05:37):
Unfortunately the result is they was a much weak in
his zone share market, which is now looking quite soggy
in year to day trading. So we are talking for
people out there rhyme and healthcare. So yesterday they announced
a billion dollar capital raise, quite a lot of money,
so they're effectively selling more shares in the company. They're
doing what's called an institutional placement, just over three hundred million,

(05:57):
so that goes out to large investors see if they
like to buy some shares. The balance is what's called
an entitlement office, so you get the opportunity to buy
more shares if you are an existing shareholder. And yes,
Mike three five twenty nine point two percent discount to
the last close, So they have had to offer this
healthy incentive to get people interested.

Speaker 4 (06:18):
What's going on?

Speaker 5 (06:19):
I mean, do you remember Ryman was once the darling
of the share market, very much so. So Ryman's calling
it a resetting of the balance sheet. They refer to
the now very widely quoted challenging market conditions which have
been amplified by a near term loss of sales momentum,
and importantly, Mike, the timing of the improvement in market

(06:41):
conditions and new sales and resales is uncertain. So look,
they've been working with their banking partners. They've decided they
need to take the size of action back in twenty
twenty three, I think February twenty twenty three.

Speaker 4 (06:54):
They raise money back then that.

Speaker 5 (06:55):
Also reduced Yet my uncertainty is the new buzz word
around town. Look, I think a couple more than one
person has counted it, but apparently the RBNZ used it
more than fifty times.

Speaker 4 (07:09):
I haven't sat and counted it.

Speaker 5 (07:10):
In the recent MPs in November, they only used it,
I don't know, sixteen, seventeen, eighteen times. Now Ryman owned
retirement villages, Mike so to grow the business. Historically, they borrowed,
they built more villages, but you've got to be able
to sell that inventory. And they got caught with an
extended balance sheet in a sort of a rising interest

(07:31):
rate environment, slowing property market, and they came undone.

Speaker 4 (07:35):
So the answer here.

Speaker 5 (07:36):
Now is to reduce what they call their gearing, all
their borrowing, de risk the current balance sheet, and then
try and reduce the inventory sort of. Management talked about
a softer than anticipated property market. There was competition in
the sector because other competitors were in the same place.
Yesterday we saw this ripple through the broader market. They

(07:57):
gave a training update as well, which was pretty soft. Then,
of course, might you had that lead from Friday night
that was pretty weak, then you get investors, we can
speculate them. Investors are also selling other positions to raise
cash to participate in this capital race. So Somerset was
down six and a quarter percent, Oceania down over five percent,

(08:18):
and the end result might was the ins and X
was down almost sort of well, let's call it one
and three quarter percent yesterday, so February three point six
percent fall and we're now down almost four and a
half percent so far this year, So not a great
starts to the year for the ins of X fifty,
but spending.

Speaker 4 (08:36):
Finally, that's for some good news.

Speaker 5 (08:38):
Retail trade Quarter four, last quarter of last year, released
by Stats New Zealand yesterday.

Speaker 4 (08:43):
Retail activity picked up.

Speaker 5 (08:44):
This will be music to the ears of the beleagued
retail sector. This is on a season adjuster basis. The
previous two quarters are both shown falls. So like the
total volume of retail sales increased by zero point nine
percent compared to the previous quarter. Look, it's not a
monumental shift, is it, But following what has been a
very extended period of weakness and retail sales, it is

(09:06):
welcome if only a modest increase. Annual growth is zero
point three percent, which is pretty amnemic flatlining really, but
the needle is starting to move. The move was broad
based regionally. Ten out of fifteen categories advanced, probably a
little bit better than the market expected.

Speaker 4 (09:22):
Look at Mike.

Speaker 5 (09:23):
This does join other data would suggest generally the New
Zealand economy is improving.

Speaker 4 (09:28):
We just have to preface that people.

Speaker 5 (09:31):
We say the economy is improving, people start thinking about
sort of twenty twenty one, twenty twenty five is not
the new twenty twenty one.

Speaker 4 (09:40):
It'll be a modest recovery.

Speaker 2 (09:42):
I noticed all the regions moved in the right direction.
I saw Hoo reasonably good as well. So that's encouraging, right.
What are the numbers?

Speaker 5 (09:48):
Well, Thank goodness, the markets have recovered a little bit
from Friday night's sell off. For dal Jones is up
point four percent forty three thy six hundred and twelve.
The S and P five hundred is sort of flu
in the green. It's up six points six oh one nine. Unfortunately,
the Nasuaka is still is a little lower. It's down
point two percent nineteen thousand, four hundred and eighty five.

(10:10):
The FORTZEA one hundred overnight barely moved. The nick A
was up quarter percent three eight seven seven sixteen. How compose,
it fell small three three seven three. The Aussi's yesterday
gained twelve points eight three eight and for the record,
the nz NEX fifty was down two hundred and twenty points,
closing its twelve thousand, five hundred and thirty one. Kiwi
dollar point five seven four to two against the US

(10:32):
point nine oh three one against the Australian dollar point
five four eight to euro point four five four five
pounds eighty five point nine three Japanese end gold still
as strong as a Knox two thousand, nine hundred and
forty three dollars and Brett Crewed seventy four dollars and
eighty cents.

Speaker 2 (10:49):
You have a fantastic day. See for Wednesday. Andrew Kelli
Jojoemiwealth dot co dot m z pasking I'd be a
bit about the movies. Imax. You know what i Amax is.
They're saying overnight that globally this year they reckon about
one point two big and that's US money for the year,
our strong domestic movie slate. Domestic, they're mean American improved
ticket sales in China, they're standing by a permission impossible,

(11:10):
How to Train Your Dragon, another Jurassic Park, the sequel
to Zotopia, and the Third Avatar. So they're feeling pretty
good about Life of the Movies, which is good. Six
twenty one, you're on the Mic Hosking.

Speaker 1 (11:20):
Breakfast Good the Mike Hosking Breakfast Full Show podcast on
iHeartRadio powered by News Talks at B.

Speaker 2 (11:29):
That spending was good. So, as I said to Andrew,
all regions were around the country HOSPO particularly did well,
and we've got more good news coming from the tourism
sector this morning hotel numbers. Interesting insight there, so that's
after seven o'clock, and then we've got the ASB Housing
confidence survey got a net thirty three percent expect prices
to rise this year, which they will, a net twenty
three believe it's a good time to buy a house.

(11:50):
Snooze you lose this for the three months end of December.
Banks suggests we might actually right here, right now, be
in a sweet spot at the moment. Canterbury confidence rose
the most surprisingly, where we are now is pretty much
on part of the optimism that we saw in twenty
twenty early twenty twenty one. So that's kind of encouraging,
isn't it. Mike Andrew Bailey's flamboyant and exuberant and clearly

(12:12):
self reflecting. But was he doing a good job and
serving a swell I wouldn't have a clear I hope
the sensitive staffer, who obviously wasn't satisfied with an apologies,
believes that we the taxpayer has the best outcoming here. Judia,
it's an interesting point. I really despair at this country
at the moment. I mean what he did. If you
grab somebody's arm, you know, no it's not cool, and
no you shouldn't do it. And I get all of that,
and yes he had form and he was always going

(12:33):
to be toast. But honestly, it's he didn't deck the guy.
He didn't run from the police like a mister Clark
that I could name. He just had an animated discision.
This is politics, for God's sake. Animated discussions happen every
single minute of every single day. Is it really that
big a deal?

Speaker 1 (12:52):
Six twenty five trending now with Chemist Warehouse The Real
House of Vitamins.

Speaker 2 (12:58):
Got some high quality radio from the UK. This is
on lb C on the Henry Riley Show. The subject
nudist beaches. Good topic for after mid day to day.
I would have thought. A guy called Clive calls in
to say that him and his wife Cynthia Cynthia axually
Cynthia have been going for years to these n beaches.

(13:18):
The host a little bit skeptical.

Speaker 11 (13:19):
We've been now going for about twenty years, nudist beat.
My wife is here, oh.

Speaker 12 (13:26):
I've been.

Speaker 2 (13:28):
Want to pass me over to your wife, then, Clive, I.

Speaker 11 (13:31):
Will try what the reception is good, much is saying,
but I can repeat things.

Speaker 1 (13:35):
How long have you been going nude for Cynthia?

Speaker 11 (13:40):
Okay, well, I mean we've been making going.

Speaker 4 (13:43):
For twenty years, but from Cynthia.

Speaker 11 (13:46):
Sorry, can you hear a reception? I think again?

Speaker 2 (13:51):
Well, I'm not being rude here, Clive. Are you doing
a voice for Cynthia or is it?

Speaker 13 (13:56):
Can you?

Speaker 2 (13:57):
Can you both speak at the same time?

Speaker 11 (14:00):
Do you want to talk at the same time? We
would be interfering with LBC signal? Do you reckon?

Speaker 4 (14:05):
Absolutely?

Speaker 13 (14:06):
Fine?

Speaker 14 (14:06):
Enough?

Speaker 2 (14:06):
Checked, I've checked.

Speaker 11 (14:08):
What did you think I think, Clive saying to the
last speech when we went, would you say it was
any good?

Speaker 14 (14:17):
Yes?

Speaker 4 (14:17):
Voice has changed dramatically.

Speaker 2 (14:22):
Ratings Juggernaut. So the New Zealand Initiative have done this research.
This is interesting. I don't know whether this goes anywhere,
not just the New Zealand Initiative. But Grigg Smith opened
the conversation the other day with a very good piece
in the Weekend. Here all that I alerted you to
yesterday on the program This is asset sales. Seymour will
be all over this, of course, and there's a possibility
the National Party are going to run to the election

(14:43):
campaign with the prospect of asset sales. So the report
out this morning suggests we've got basically a bit over
half a trillion dollars worth of sales assets. Rather the
returns no good, In other words, the amount of money
we've borrowed to pay for the stuff. It doesn't make
physical sense. So is the great asset sale debate? Back on,
Bryce Wilkinson of the New Zealand Initiative after the News,

(15:03):
which is next the news talk said.

Speaker 1 (15:05):
Be my cost game in sateful engaging and title the
mic Hosking Breakfast with Bailey's real Estate finding the buyers
others can't use.

Speaker 2 (15:17):
Tom said, b Acron's literally just walked into the White
House with Trump. So wil Lum get Katherine Field all
over that for you. Shortly, just to reiterate what we
were talking about with Andrew earlier on, just a couple
of numbers around the spending increase to give you some
sort of encouragement. Accommodation up eleven percent. That's material, food
and beverage up three point three percent, Electrical and electronic
goods up three point three percent. Eleven of the fifteen
industries are up. I told you every region in the

(15:39):
country has done well as far as regions the most
positive a targo seasonally adjusted sales values rising seven point
eight percent. Can't argue with that twenty three to seven right,
speaking money, more insight this morning into the crown's assets
and whether they're worth owning, whether we should be in
a discussion again about selling them. State owns about half
a trillion and ass it's five hundred and seventy one

(16:01):
billion to be precise. So here's the rub. The returns
don't cover the interest costs on money borrowed to own
them in the first place. New Zealand initiative they've done
the report in Bryce Wilkinson is well, it's a very
good morning to you.

Speaker 15 (16:11):
Good morning.

Speaker 2 (16:12):
Make the amount of interest that we now owe an
every dollar, do you reckon people? Get that? Understand that
or not?

Speaker 4 (16:17):
Really?

Speaker 16 (16:19):
No?

Speaker 15 (16:19):
So in the report we identify the net interest speed
on government borians is about three point seven cents and
every dollar collected in taxes, and that's about three times
higher than it was a few years ago when interest
rates were very low and the.

Speaker 13 (16:36):
Debt was lower.

Speaker 2 (16:37):
What would you sell if you could?

Speaker 15 (16:41):
The literature empirical workers overwhelming that governments are not good
at running commercial assets, so you'd start there. Also, the
government owns an enormous amount of real estate in New
Zealand and dark owns about thirty percent of New Zealand
and ever going to be funded well enough to enhance

(17:04):
the amenity value of that for New Zealand as much
as other people could. So idle land which it's not
using well, should also be looked at.

Speaker 2 (17:15):
You've already enraged people, and this is where the debate
gets interesting, isn't it. Do you think we're up for
the politics of this discussion.

Speaker 15 (17:23):
Yeah, the report acknowledges people's concerns about selling assets. We
use the analogy of what a household does when it's
in trouble with the level of its borrowings. You've either
got to cut back and spending or raise income somehow.
The government could raise tax rates, but it's also got
a productivity objective, so that doesn't tell the other thing

(17:45):
the report a knowledge is is that any assets salers
process has to be pretty squeaky clean. It's got to
be getting a good price and no sort of hidden deals.
It's got to be transparent, it's got to be an
option sort of process. So the report is very conscious
of the people's concerns about government as itself.

Speaker 2 (18:06):
If this was the first time we were ever having
the discussion, would it be completely different from the reality
of what we're doing. And we've seen key we rail
and all the other problems. You look at Wyaler in
South Australia at the moment, you look at Thames Water
in Britain. Saying you sell something well and it actually
being sold well are often two different things. And that's
a problem, isn't it.

Speaker 15 (18:24):
Yes, that's right, And to some extent there are report
emphasizes so that that so much so it is a
bit of a warning sign to the government that you
should be looking at doing this. You need so much
money for infrastructure for maintenance, hospitals, schools and the like,
and now with the Chinese wake up and more on defense,

(18:47):
so should be looking at whether the country should be
prepared to look at all the options and have an
adult conversation about them and not let fears shut it down,
but insist on good process.

Speaker 2 (18:59):
You're on your brice preciated as always. Bryce Wilkinson, New
Zealand Initiative Senior Fellow and Mike Transpowers Not for Sale well,
according to Greg Smith at Devon Funds, it should be
that's one and a half billion, I think from memory.
And then you get rid of the rest of the
other power companies going and then you can sell various
airports and ports and so the debate begins what will
be interesting The next step required as a party to
come forward and go yep, that's us. And so we're
already get David Seymour at the Act Party thinking that

(19:21):
that could be something he campaigned on. And the other
interesting thing is do National go down that same route
nineteen away from seven pask like, please ask the PM
if he's going to do anything about the Supreme Court
making law. Read the seabed where the Supreme Court have
done such a thing as such, showing the court case
is underway at the moment it will be for a
sustained period of time. If you're not following that, it's
absolutely fascinating. There's a great debate as to whether they

(19:43):
should be in court this night Tahoo in the South Island.
It's the great debate whether they should be in court
or whether they should be in the way Tangy Tribunal.
That's the Crown's argument or part of the Crown's argument,
Mike Bailey's a loose unit. Lucky for him he hadn't
decked somebody, or hasn't been decked by somebody. I don't
think you'd put up with someone like that in the office, Mike.
I see Chris Hipkins is barking at cars again. Mike,

(20:04):
you might like to ask the PM who's about to
be out of the country with the deputy Prime Minister
already oversees, who's going to run the country. It can't
be David Seemore, He's not the deputy. Will you make
the mistake in it has to be the deputy. It
is the deputy in Winston's case. And whether he's still
out of the country, I don't know. Is in Saudi
Arabia over the weekend of the boxing, but he may
well be back. And if he's not at his David Seymore.
Do you know why I know this because he's done
it before. This is not a first. There's nothing unusual

(20:26):
about this.

Speaker 1 (20:27):
Eighteen to two The Mike Asking Breakfast Full Show podcast
on iHeartRadio, powered by News Talks ep.

Speaker 2 (20:35):
Off and running Mike sell Coorus Government owned sixty six
percents are worth a couple of billion years. Griggs piece,
which I do reiterator, is well worth reading from the weekend.
He's arguing get rid of the rest of the power
companies at fifteen billion, Mike. If they privatize electricity, doesn't
that just mean that the middle income New Zealand will
pay more for electricity prices and those at the bottom
will be getting government handouts, and those at the top
will wreap the benefits of buying into the electricity companies

(20:58):
they currently already own. That's the jold debate around osset sales.
We already own them and we've already paid for them,
and it all depends on one how you sell them
and to whether they run them efficiently. Of course, I
can cite you any number of examples in New Zealand's
a better company for being publicly floated or being sold off.
There's no question about that, mind you. I can counter
that by saying, one of the best airlines in the
world as Emirates, who owns Emirates? The government who owned Singapore?

(21:20):
The government? Morning? Might I need to sell the wog
train wreck that TV one and radio in New Zealand are, well,
you couldn't sell it. That's the other point, what's left
John Key when he was on the program a couple
of weeks ago, it did not a lot left to sell.
You'd be selling TV one literally for scrap. It's not
worth anything. Once upon a time, maybe a couple of
billion dollars. Now it's worth next to nothing. Six forty five.

Speaker 3 (21:38):
International correspondent squid ends in eye insurance peace of mind
for New Zealand business in France.

Speaker 2 (21:43):
Katherline Field, how are you.

Speaker 13 (21:45):
I'm fine, thank you, mate, man.

Speaker 2 (21:47):
And I was just watching old Macron wandering with Trumpe.
I didn't see the handshake, whether it is up or down,
around around, they're off for lunch. I mean he's got
a job, hasn't he. Macron, he's representing I'm assuming all
of Europe.

Speaker 9 (21:59):
He is.

Speaker 7 (21:59):
Indeed, yes, just to be precise on that, Mike, it
was a handshake, not a hug. That was the first
thing that the French TV said when they saw it.
Of course, in the past twenty seventeen, when Macron first
met Donald Trump, then president, it was a hug. It's
all warmth, all smiles. We haven't seen that today. This
visits by Emmanuel Macron, the first European leader to have

(22:22):
a one on one with Trump since he took office,
of course, coincides with a third anniversary of the start
of the war.

Speaker 1 (22:29):
He does.

Speaker 7 (22:29):
He has a really hard job to convince Donald Trump
that if there is a quick deal with Vladimir Putin
to stop the war in Ukraine, then that risks being
a bad deal. And that's the message he's going to say, Look,
if it's a bad deal, you will end up on
the wrong side of history. It will weaken you, It'll
make you look weak to the Chinese. That's what he

(22:51):
wants to convince him about. He also wants to tell Trump, Okay,
we know what you're going on about European defense.

Speaker 2 (22:58):
We know we need to do better.

Speaker 7 (23:00):
There is going to be increased defense spending. There's a
discussion about European defense capability. But for the time being,
he's going to say, please can you keep that US
security guarantee in place in Europe. It's been there since
the end of the Second World War. That is what
europe stability in Euro's economics are based on. Please keep

(23:21):
that in place. On top of that, he's going to
talk about this idea that macroml and the UK Prime
Minister Starma have come up with that there could be
some sort of European reassurance force that would go into
Ukraine after there was a peace settlement. Now, of course
they can't do that on their own. They would need
US intelligence and put they would need US air support.

(23:42):
So he's also going to say, if we do do that,
would you be able to help us out there? So
that's what he's hoping he's going to get. We are
told from the USA Palace that you will not see
the usual emmanual Macron mayor that you will see him
looking very serious and showing humility towards Donald Trump as

(24:02):
what we're told.

Speaker 2 (24:03):
No pressure. Then then the main time back in Keev,
I know that Starmer is an India doing a tri
deealer Macrons obviously in Washington, so limited in numbers. But
once again we gather around the table and what say
what We're with you?

Speaker 7 (24:16):
That's exactly yet. Yes, there was that decision to have
this big EU meeting in Kiev to mark the anniversary,
to say yes, we are with you, we have been
with you since the start, we will be with you
at the end, and we'll be with you into the future.
That is the message that they hope to get across.
They did get that message. There was also the Canadian

(24:37):
Prime minister, the current Prime Minister Trudeau was also there.
And that's what they're trying to do, Mike. You know,
when you've got all these European and non European leaders
going there, they're trying to counter what they see quite
clearly as Donald Trump siding with Putin, and they're saying, look,
we are still siding with you. And when you just
look at what else has happened in the last hour

(24:59):
that you win RESERL, which condemned the Russian aggression in Ukraine,
that the US voted against that sided with Russia and
North Korea and Belarusia. So that is what they're trying
to do, and say, look, you know, the United States
might be siding with Putin for the time being, but
we are still there. And I think I've said it before, Mike.

(25:19):
The French Defense Minister reminded everyone today that fighting between
Russia and Ukraine is just two thousand kilometers away from
mainland France exactly.

Speaker 2 (25:30):
Just quickly, I noted Merzers off to talk to the
Social Democrats. He's got the nod to do. That is
that an easy deal or not, it should be an
easy deal.

Speaker 7 (25:38):
Matt says that he should have a coalition in place
by easter. That's the twentieth of April. Very interesting stuff
coming from him, though, Mike warning that we're now at
a five to midnight moment that the mainstream parties have
to act now if they're going to stop the far
right from really coming into Parliament and the next election.

(26:00):
There the other thing which was extraordinary to hear him
talk about this being the end of the Transatlantic Alliance.
Very unusual for a German of his generation to say that.
But you know what they're hoping for, of course, is
that Matt's and Emmanuel macronold they're both risk takers. They
both know that times are changing in Europe and Europe's
going to have to start talking at least about some

(26:22):
sort of independent European defense capability.

Speaker 2 (26:25):
Jeez, are interesting times, aren't they? Catherine appreciated as all
I see next week Catherine Field in France ten to seven.

Speaker 1 (26:30):
The Mike Hosking Breakfast with the Range Rover Villa news togs.

Speaker 2 (26:34):
There'd be there's Mike in't like the vast majority of politicians.
Andrew Bailey actually had a successful life in the business world.
Most of our politicians couldn't read a balance sheet, but
Bailey clearly canon was actually doing work in his portfolio.
And like some of the other lightweights, why would anyone
who has a successful life outside politics want to sign
up if you'll get the boot for making silly jesters
and touching somebody on the arm. It's a fine line.

(26:56):
I don't defend what he did. I mean, I don't
even know what he did. I mean, does anyone actually
know what he did? I mean, was that was the
do we even know of the person's male or female?
Was a female? Is that confirmed? Was a male? So
it's a male, So you grab somebody's arm. No, it's
not cool, No, but it's you know, really, maybe he'd
had a clean sheet, it would have been nothing. But

(27:16):
he didn't have a clean sheet, and that weird loser
thing that you can't explain that either. So maybe the
guy I don't know him from a bar of soap.
Maybe he's eclectic, maybe he's an odd bloke. Maybe he's
an odd ball, but as a decent bloke, he's a
good representative of the region. Somebody who's asking yesterday, why
didn't he resign as an MP and his whole well,
of course, why not, let's let's have a by election.
Why don't we spend half a million dollars on a

(27:38):
good old by election as well, because God forbid, he
holds onto a job forever. The whole thing just seems
to be yet another example of why this country is
drifting so bloody aimlessly, because we obsess about MINUTIAI and
that's our problem. Five minutes away from seven and Helse.

Speaker 1 (27:56):
It's the fizz with business fiber, take your business productivity
to the next level.

Speaker 2 (28:01):
As I mentioned with Catherine a moment ago, a lot
of wait and see around the potential new government in Germany.
Reports this morning indicate there is optimism that the economy
is going to start to do better than it has,
which is just as well, because what it's been doing
is going backwards, and that's what you do. When you
give a country to the socialists, they generally wreck the thing.
Debt break is what they're talking about now. Merkle was
the inventor of the debt break. This is back in

(28:21):
two thousand and nine. Basically, it's a sort of a
way of showing you can balance the books and it
kind of limits what you can do. Annual borrowing is
limited to zero point three five percent of the GDP. Now,
depending on who you ask, it's either that's a good
thing because it's discipline, or it's the reason why they're
struggling now because under investment and infrastructure they could borrow
more money. Anyway, Mertz wants to change all of that

(28:44):
as well as the Social Dems are the AfD and DILINK.
They hold enough seats to veto any constitutional amendments, so
they can pars legislation. But if you go big on
the constitutional side of the equation, they don't have what
they would loosely call the supermajority euro and the sheer market.
They're anticipating a coalition announcement fairly shortly. The euro top
one a five against the US dollar ap to drop

(29:05):
into its lowest level since November twenty two. It was
when Trump announced the first out of terror plans. The
dacks hit a wall after going up fifteen percent in January.
That's expected to start gaining some sort of momentum again
with a new government expected to reboot the economy and
bring in international investment. You note that everyone's bringing an
international investment. Indonesia yesterday announced a big fund. The Chinese

(29:27):
want international investment. So it's like somebody's passed a book
around leaders around the world and clearly gave lux and
one and said what you need is international investment. They
all went, Oh, I know, let's set up a big
world fund and let's attract international investment. Anyway, defense spending,
that's good because the largest arms manufacturer told you about
this last week. Ryan Metal Bear shares are up forty

(29:47):
four percent so far this year. Geopolitical shambles is always
good for people who make things that go bang now.
Erica Stanford told you about this yesterday too. I had
no idea how many teachers were short off, so we
need to do something about it. So she's got the
details on that. Christopher Luxan after seven thirty.

Speaker 1 (30:07):
News Opinion and everything in between, the Mike Hosking Break
Best with a Vita Retirement, Communities, Life Your Way news
togs had.

Speaker 2 (30:16):
Been folloing seven past seven. So numbers have proved to
be a problem with the public service. We thought we
had a lot more teachers than we've actually got. Turns
out were about twelve hundred and fifty short this year.
So offshore primary teachers will be put on the straight
residency greenlist as of next month. The Immigration and Education Minister,
Erica Stanford is with us on all this morning to you.

Speaker 17 (30:34):
Good morning, mate.

Speaker 2 (30:35):
Have you had to hustle to make this announcement because
of what happened?

Speaker 17 (30:39):
No, I haven't hustled. At the end of last year
when the teacher data should have come out, and they
turned up at my office and handed me a document
that showed me the teacher data, which was wildly different
than the year before. Of course you could imagine my reaction, Mike,
at which point I asked them to start delving into
the data. When they came back to me and they
said to me, the Minister, our data is wholly unreliable.

(31:04):
Those were their words. And I enjoy at that point
late last year that we ready to get better data,
but I also knew that it wasn't going to be great.
So at that point that's when I hustled, said to
Immigration right what we do right now? And they have
been amazing, worked at speed so that I've been able
to do this right.

Speaker 2 (31:23):
So the next thing. All the problem we have is
there a demand. So in other words, green lighting is
one thing. Are there a bunch of people who will
turn up?

Speaker 17 (31:31):
I think that there are because we did this for
secondary school teachers. So when I got there initial data
back in twenty twenty three, when I first became the minister,
I saw the secondary school teachers we were in trouble.
I mean that it was looking like we were going
to be one hundreds short, and I moved immediately to
put them on the immediate pathway to residence. We didn't

(31:51):
put primary school teachers on because the data told us
something different. And we've seen since then we have had
quite a big uptick in secondary school teachers coming through.
It has made a difference. So that's why we know
this well. But it's only a very small part of
the puzzle. There's a lot more we need to do
in terms of on site training and scholarships and encouraging
young people to get into teaching.

Speaker 2 (32:11):
Exactly are we doing that?

Speaker 17 (32:13):
We are? And I knew last year even though I
had data from the Ministry when I first became the
minister that said we're going to have an oversupply of
primary teachers. I knew in my gut. I was like, no,
I doesn't feel right. I'd been around the country. I'd
talked to the Southland Primary Principles, the Auckland Primary Principles
and they were saying to me, we're not seeing it here.
So when I said to the Ministry, doesn't feel right,

(32:35):
they said, oh, no, Minister, it's just regional. So I've
now made them do regional data the first time that
they've never done that before. So I knew something was up.
I didn't trust the ministry and last year and last
year's budget we put in, you know, tens of millions
of dollars into helping to train more teachers. The on
site training programs was fifteen hundred more teachers into the

(32:55):
mix and put and we put a special category of
primary school teachers because I just had feeling, and we
will look to do that again this year as well.

Speaker 2 (33:04):
So I had rough on the program last week when
he wrote his report, and I haven't had the Prime
Minister on, but I've got him on this morning. How
much of what you want to do as a government
is held back by a public service that simply isn't.

Speaker 15 (33:17):
Up for him?

Speaker 17 (33:20):
Good question. Look, to be honest with you, I have
for the most part, when you are very clear and
you go in with a with plans and you know
exactly what you want, they will respond. I mean, the
education is doing an absolutely fantastic job because we are
very clear about exactly what we want to achieve. And

(33:42):
yes there's the occasional hack up. But when you have
good leadership and you know what you want and you're
very clear about it, and you stay on top of them,
and yes sometimes you have to micromanage them, then you
get results. And you've seeing that in education.

Speaker 2 (33:53):
I appreciate your time as always, Erica Stanford. So the
green light for the primary teachers, they were just if
you hadn't followed the story, we are twelve hundred fifty short.
They thought we were going to have one thousand more
than we needed. So a two and a half thousand
difference eleven past seven tasky not some good news for
our economy and from our tourism industry. Millennium Copthorne as
in the hotels have reported the highest full year revenue

(34:14):
in five years now. There is a sense that twenty
five apparently is looking good for holidays. See Stuart Harrison's
with us on this Stuart Morning.

Speaker 18 (34:21):
Good morning.

Speaker 2 (34:22):
Is this specific to your series of hotels or the
industry generally.

Speaker 18 (34:28):
It will be across the industry generally, and I think
it's also related to specifically areas within that country.

Speaker 2 (34:35):
Because I'm still seeing eighty nine percent of what we
were in twenty nineteen as far as the rivals are concerned.
So what's going on here that you're doing so well
but we're not back to where we were?

Speaker 18 (34:46):
Yeah, I mean, I think we have been holding to
a strategy which we've referred to as revive and thrive.
So yes, we knowledge we're not going to yet, but
it is part and partle of that revive process that
we're going through. So I guess in some ways we've
seen in the opportunity whilst Noethers are down to actually
be reviving our product, doing refurbishments and refreshments and upgrades

(35:09):
and things like that to sort of position ourselves, and
I think that's part and parcel of being able to
then seize on those opportunities as they start coming through.

Speaker 2 (35:17):
What's your occupancy rate?

Speaker 18 (35:20):
So we close out the year at around about sixty
six percent.

Speaker 13 (35:22):
Across our hotels.

Speaker 2 (35:23):
Is that good? No?

Speaker 13 (35:27):
Yeah?

Speaker 18 (35:29):
If you actually look back to sort of pre COVID days,
you know we were up into sort of about eighty
percent level. So it is definitely a growing perspective that
is starting to come through. But yeah, a long way
to go yet.

Speaker 2 (35:40):
And what about your room rate? What have you done
with that?

Speaker 18 (35:43):
Yeah, I mean that has grown over the past few years,
obviously on the back of COVID. Again, that's part of
the revived process that we've been going through.

Speaker 2 (35:53):
And far as the American thing, I'm just trying to
get a vibe around the tourism. I'm seeing the numbers.
America loves us at the moment, seeing that.

Speaker 14 (36:01):
Yes we are.

Speaker 18 (36:02):
Yeah, that is definitely one market that has been delivering
for us and coming in in good numbers, and obviously
they seem to enjoy their long stays here as well,
So that's helpful across the country.

Speaker 2 (36:15):
And as far as you're concerned in terms of hotels
is location. The key is at location specific. In other words,
if you're in the right areas, you'll do better than
people who are parked up in the wrong areas.

Speaker 18 (36:25):
Yeah, I mean there's definitely the pockets that are there.
I mean, if you look at it and go Queenstown
is a location which has had high demand on a
relatively consistent basis out the other side that you have
in Auckland that was probably gearing itself up for the
convention centers to be up and running, and so you've
had a whole lot of hotel inventory that's sort of
come on board. As a result, there is excess supply

(36:50):
as a location.

Speaker 2 (36:51):
And what about this tourism campaign everybody's got to go.
Do you hold hope that this could work or not?

Speaker 18 (37:00):
I'm keen on the fact that some money is actually
being spent in that area. I think we came out
last year and said of said they needed to be
a concerdered effort, with central and local government support being needed.
Such great to actually see something happening and I definitely
encourage it in that respect and.

Speaker 19 (37:17):
We would be on board.

Speaker 13 (37:18):
I think we.

Speaker 18 (37:18):
All know that Australia is one of our key market places.
So to be able to spend some money to promote
New Zealand and get Australians to come here and stay,
it's a step in the right direction. We will always
be suggesting this would be.

Speaker 2 (37:32):
More good and so I appreciate Stuart Stuart Harrison out
of Millennium and cop Porn Hotels this morning, fourteen past seven,
Andrew Bailey bollocks just shows how small minded we are
as a nation. Now we can't get past the Stockholm
syndrome that was pushed on us for six years by labor,
and now it's okay to feel unsafe with the handtouch.
I keep saying the same thing. What he did was
not acceptable, but it's become, as it's so often, is

(37:56):
way bigger than it needs to be. Got an insight
into hospito from yesterday's conversation for you in a Moment
fourteen past seven.

Speaker 1 (38:04):
The High Asking Breakfast Full Show podcast on iHeartRadio powered
by News Talks.

Speaker 2 (38:09):
At b seventeen past seven. I won't tell you who
this text is from, but they've been in the political arena.
They know Bailey. I know Andrew Bailey. Mike Well, he's
one of Blipe's good guys. Yes, he's quirky. You walk
to the north of North and South Pole's travel across
the Sahara on a camel, but he's not threatening. When
you work for somebody like Bailey, you understand that you
work for somebody who's animated and passionate. Yes, technically what
Andrew did as assault, but his tactile and this while

(38:31):
unusual is just who Andrew is. If a staffer doesn't
like the minister or style, get out. Then we come
to this. I thought, this is not a bad point. Actually, Mike,
have a look at the assault that Liz Gunn was
found guilty initially for, and you'll understand how pathetic it's become.
That's a very good point because that got tossed in
the end, and that was a grab of the arm
as well. And so what that does is simply reiterate

(38:53):
that really the story is not about the physicality of
it all. It's just about the imagery, the politics of it,
the super fe sheelity, and the complete nonsense that we
obsess about. Mike, when you have the pmon, could you
ask him by the police? Don't talk to the judge's resentences.
What I mean is if the police catch a thief,
judges let them off. Tell the police not to waste
time catching thieves lots of times, Judge, you ain't go

(39:14):
nate your honor. Not really happy with what you did there.
That's not really how it works. Unfortunately, right insight into Hospo.
So yesterday Plank, this is Wellington closing next month, winebar,
custom house, key Johnson Street, relatively well known but open
since twenty twenty three. What I'm leading to is this
is owned one of a number of eateies. It's owned

(39:34):
by the U Group. So the You Group are telling us,
on one hand that they've never seen life so difficult.
So they had Atlas. If you're a Wellingtonian, you know
the area Atlas that closed in twenty twenty three decreased
appetite for fine dining. Here's what I'm assessing, and this
comes out of a conversation yesterday in which I said,
the places I've been lately are just absolutely jam packed,

(39:58):
like ludicrously, so you can't get access to them. So
how come I'm still hearing all of the hospo's dreadful.
It's a nightmare. We can't get staff, we can't operate
a business. We're all going bust. There seems to be
two diametrically opposing stories here. So you, on one hand
are telling me, upon the closure of their particular operation,
the Plank Bar, that life is tough, it's never been harder,

(40:20):
and yet in the same story they remain buoyant. They
close three venues but open six, so in other words,
they're expanding so is it only we're hearing about the
three day closed, but we're not hearing about the six
day open. Is that what's going on in Hospo? Is
it specific to the what you're doing. If you're doing

(40:42):
the coffee in the cafe, you might well do well.
If you're doing the fine dining, you might not have.
The wine bar is not working, you'll open up a bakery.
Is that what's going on at Hospo? Let me know.

Speaker 14 (40:51):
Did they just think that Plank was a bit of
a silly name?

Speaker 2 (40:54):
Could have been a silly name Macron and Trump more
on that for you in just a moment seven twenty.

Speaker 1 (41:00):
The Mic Hosking Breakfast Full Show podcast on iHeartRadio Power
by Newstalk zip.

Speaker 18 (41:08):
Right.

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twenty four. So on a day of a resignation at

(42:12):
a fairly high level, we also have a confession in
court from another high profile operator. The problem with high
profile is it tends to be high wire. Of course,
more is expected of you because of your role, or
is it. Andrew Bailey from the details available as we've
been discussing this morning, which aren't Many didn't commit a
sackable offense. As far as I can work out, putting
your hand on the arm of a person you're having
a lively discussion with is very cool or acceptable, but

(42:35):
in and of itself, it's not the end of a
Korean But the trouble with Bailey is the loser thing,
in some way, shape or form, was always going to
haunt them. So a small infringement by way of a
follow up misdemeanor was always going to be larger than
it would have been with a clean sheet. Also lux
and set the behavior bar high the precedent, is there
any trouble you're out? Contrast that to Caleb Clark, who
has pled guilty to dangerous driving and failing to stop

(42:57):
for the police. Maximum sentence, which will have in June
is many thousands of dollars and several years of jail time.
His lawyer wants some discharge without conviction. Unlike Bailey, he
has an offer to quit as far as I know,
so the question becomes is it a sackable offense? Drink
driving has been established with a number of incidents over
the years with high profile convictions not to be a
sackable offense, So the president are set there, But what

(43:19):
about dangerous driving? And more worryingly, with the message it
sends failing to stop for the police, failing to stop
with a view to what scarper not get caught, evade
the law, get away with it. Law and order, of course,
been a major election issue in the police's role in
getting on top of law breaking has been a major
focus for most of us of late. If I, as

(43:40):
a high profile operator, was up on charges this morning
of failing to stop or dangerous driving, would you expect
me to be sacked? Would this workplace beyond whatever happens
in court? Expect to see some sort of resignation from me,
I suspect yes? Or does profile only count in politics
where no law was broken but emotions got you sacked instead?
What does an all black have to do illegally to

(44:02):
be sacked as an all like coasking six? So it's
Macron and Trump who's first? Should we do Macron first?
Let's do Macron first.

Speaker 16 (44:11):
Europe is willing to set up to be a stronger partner,
to do more in defense and security for its continents
and as well to be a reliable partner and to
be engaged on trade, economy, investments, in a lot of topics.

Speaker 2 (44:28):
All right, So that's so far. It's so far, so
but he's got all Europe on his back, of course,
and no pressure on that. N Donald Trump, I think
a lot of progress has been made.

Speaker 20 (44:36):
We've had some very good talks with Russia. We've had
some very good talks with others, and we're trying to
get the war ended with Russia and Ukraine. And I
think we've come a long way in a short period
of weeks. And the President's been very helpful also, and
we're also talking about trade, various trade deals that we
will be doing with France.

Speaker 2 (44:57):
Well, let's see how that goes. Show with James carb
who you'll know if you've been around to the Clinton years,
fairly serious political operator in the democratic circles of America.
He says Trump's going to implode within thirty days. And
the good thing about that prediction did it on a podcast.
The good thing about that prediction is it's timelined. It's
thirty days, so by the end of March. Let's give
them a little bit of leeway. By the end of March.

(45:18):
According to Carbill. It's all going to complete it.

Speaker 14 (45:21):
Does he mean physically or.

Speaker 2 (45:22):
No, the whole thing. The administration's over because there are
too many weird emails, too much nuttiness going on. The
pushback from the Republican is going to be so great.
So his advice to the Democrats has just staged them
and just watch them and plode. Chris Luxeon is next.

Speaker 1 (45:37):
It's in New Zealand's home for trusted news and views,
the mic Hosking Breakfast with the range Rover villa designed
to intrigue and use togs.

Speaker 2 (45:47):
B let He's bring them. It's away from the indie
season kicks off and St. Petersburg or some pizzas they
call it. This weekend. Scott McLaughlin is back with us
after eight o'clock this morning. Meantime this Tuesday morning, the
play mins to Christopher Luxembury the morning to you cold
things to cover off one. I watched your press conference
yesterday with Chambers. He seems effusive these days in what

(46:08):
he and he said so in what he's allowed to do,
what he's achieving, and he seemed to indicate at the
end of his brief comments yesterday that he's seemingly looking
to you for more law to do more. Is that
the impression I got or not?

Speaker 4 (46:23):
Yeah?

Speaker 19 (46:23):
Well, yeah, I mean look at me first and foremost.
I think he's a great arm he's doing a great
job as Police Commissioner. He's really loved by the frontline staff.
I think you've got good alignment between the Prime Minister,
Minister Mitchell and obviously the Police Commissioner. What we're wanting
to do is just they feel backed up, you know.
And for the first time. What we were talking about
yesterday was that gang patch laws that we passed back
in October that gives a lot of permission to go

(46:45):
after the illegal guns and the drugs.

Speaker 2 (46:47):
You know.

Speaker 19 (46:48):
As a result, there's more that we want to do
frankly in the firearm prohibition orders and illegal guns and
give them a few more powers there, and that will
come in due course. But you know, the trick is
that you want the police backed by a government and
actually empowered to go after and disrupt gangs, which is
what's been happening. And yeah, I thought it was interesting
over summer, very few stories that we'd normally get about gangs.

(47:08):
I went down to the to the to Christ Church
where they'd gone and smashed up the common cero so
beautifully and we want to keep keep encouraging that.

Speaker 2 (47:16):
Okay, Andrew Bailey, has he got form?

Speaker 19 (47:19):
Well?

Speaker 2 (47:20):
Has he done this before?

Speaker 19 (47:21):
Well, we had the incident at the end of last
year which we spoke very at that aside.

Speaker 2 (47:24):
Is there something wrong with him? No?

Speaker 19 (47:26):
No, I think he got this wrong. As he said,
he went through it, he looked at his interaction, didn't
feel it met as standards and the expectations that we
had set before and what he sets for himself more importantly,
and got on to me, you know, proactively came forward
and resigned to me very late on Friday.

Speaker 2 (47:40):
Somebody texted me earlier this morning. I think it's a
fair point, and that is that he's got a life
outside of politics. As indeed, you did what sort of
I mean, if that's the sort of crap you got
to put up with, I know what he did is unacceptable. Again,
but if that's the sort of crap you got to
put up with, why bother?

Speaker 19 (47:56):
Yeah, But I think he's someone who feels very strongly
about parliamentary process. He likes making good law. He actually
is very energized around the tasks around you know, complicated legislation.
He's actually you know, gets gets and that's what turns
him on. So I think that's a really good thing.
That's why he's still got a good contribution to make,
you know, as a local MP, but also in Parliament
through the set committee processes all of that stuff.

Speaker 2 (48:17):
Am I just too woke? Not too no, No, am
I not wouldn't. I don't understand. I don't understand what
the problem is he. I mean, what he did wasn't right.
I get that, but but we've lost a person who,
presumably you at one point thought was good enough to
be cabinet.

Speaker 19 (48:33):
Look, honestly, he was doing a very good job, making
good contributions and two very technical portfolios. I'm sure it's
got some some will carry that on, but look, the
reality is you've got to have some standards, Mike. And
you know, I watched the last lot go through a
series of ministers and it wasn't even clear. It was
clear in this case, and importantly he recognized that he
hadn't met his own standards and that's his decision. So

(48:55):
I respect that.

Speaker 2 (48:56):
Would you, because you've got yourself in the usual trouble
with you being too nice? Would you have sacked him
if he hadn't offered to resign.

Speaker 19 (49:02):
Well, hypothetical he did resign.

Speaker 2 (49:04):
No, I know that, But just answer the question, Well,
would you have said, well.

Speaker 19 (49:07):
He didn't meet the expectations of the minister, so was
it a seckable offense?

Speaker 2 (49:10):
Well?

Speaker 19 (49:11):
I think give him how clear we've been on the
first instance about why?

Speaker 2 (49:15):
Just answered the question was this is why you get
yourself reputationally in so much trouble? Would you have sacked him?

Speaker 13 (49:21):
You saw?

Speaker 19 (49:21):
No, I could say, yeah, he didn't meet the expectators
I have ministers, so you would have sacked him. I
didn't need to because he resigned.

Speaker 2 (49:27):
I see what you're doing here.

Speaker 19 (49:29):
I don't Well, but you're talking about a specific case, right,
would you have said, have I done a good job
playing down expectations of my minister's But.

Speaker 2 (49:38):
The next step is really simple. If he hadn't, I'm
glad he offered to resign, because I'll tell you what,
if he didn't, I would have sacked him.

Speaker 19 (49:47):
He wouldn't have met my expectations as a minist.

Speaker 2 (49:49):
But why are you saying it that way? I don't understand.

Speaker 19 (49:51):
Well, that's what I mean. If if he hadn't resigned,
I would have I would have would have made an
INTERVENTIONU I would have actually, yeah.

Speaker 2 (49:59):
I would have sacked No.

Speaker 19 (50:00):
But there's an issue here, which is what is it?
The issue is that, most importantly, the Sandars are really
clear of my ministers. They know the sanates. I operate
with him whenever we have any personnel issues. I think
we've acted incredibly decisively. But what I'd say in this
case is I laid down after the last instance, crystal
clear expectations. He reassured me there wouldn't be another incident.
He knew there was an incident. He then actually made

(50:21):
that decision himself. It didn't meet my expectations. That didn't
meet us.

Speaker 2 (50:24):
How many words you're using to explain this, This is,
this is why you're in trouble in the polls. People
want something decisive and so look if you wouldn't have
sacked him, so so either way, I don't care, but
all people want from you, the Prime Minister, to go.
This is my expectation. I'm glad he resigned because if
he didn't, I would have sacked him.

Speaker 19 (50:41):
Well, that's exactly what has happened here, though, isn't it.
I mean like he has resigned, and I've said to
him he hasn't met his own expectations, which is important, right,
I want the I want ministers to understand I saw example,
he can't do his own conclusion.

Speaker 2 (50:53):
Fantastic good or for doing that, But are you the
sort of person that would have sacked him? I think
he has seen to that conclusion.

Speaker 19 (50:59):
I think you've seen me act very decisively on personnel issues,
something I've done all my life.

Speaker 2 (51:03):
You know it's I know that still doesn't answer that.
I don't want to get bogged down on this. Why
can't you be decisive enough to simply say I would
have secked in this case or not.

Speaker 19 (51:14):
In this case, he resigned and if they hadn't happened,
I would have then been involved with that and would
have made a decision to say they didn't meet my expectations,
and that would which would have led to what it
would have led to him losing the role anyway, So
he would have been he would have been he would
have been devoted and demoted, he would have the ministry
would have been taken.

Speaker 2 (51:30):
Away, right, sacked? Yeah, well, yeah, you've made a complete
meal of this. The cooks deal in China, First of
all China. Have we found out specifically what.

Speaker 19 (51:42):
They were doing here and why, No, we haven't been
informed by them. What they're doing here is doing exercises.
They have a destroyer, they have a frigate, and they
also have a refueler with them. That is different from
what we've seen before. We've seen research vessels do some
of that sort of navigations. It is completely legal with
an international law, is completely within the UN Convention of
the Law of the Sea. But our problem and frustration

(52:05):
has been that we would like a bit more advanced notice.
Normally you get twenty four to forty eight hours notice.
It's a very busy set of airway, as you well know,
but we've had you know, that's the reality of it
is that they are completely entitled. We use the same
laws when we move our assets around the world as well.

Speaker 2 (52:21):
Is their behavior acceptable?

Speaker 19 (52:23):
What's clear is that it's got much more benign, much
more competitive within the Pacific Ocean. You've seen that with
the cooks. You've seen that with this increase and change around,
much heavier military and more powerful vessels coming through you.

Speaker 2 (52:35):
But it is their behavior acceptable?

Speaker 19 (52:37):
Well, they're entitled to that. You know what you're saying
is just more competition.

Speaker 2 (52:41):
They them not benignas. The main reason I ask is
that we're divoting flights.

Speaker 19 (52:46):
We are, and that's quite normal around the world if
militaries will send radio signals up to airlines and into
the aviation system and into the maritime system to say
they are doing exercises. What we're saying is, look, we're
relaxed with what's happening when the sense of it's legal,
but we want to make sure we've got a bit
more advanced notice.

Speaker 2 (53:01):
Okay, the Cooked deal itself, from what you know and
what we've been told so far, are you bothered by it?

Speaker 4 (53:06):
Yeah?

Speaker 19 (53:07):
And clearly frustrated by it because at the end of
the day, areash'es not with the Cook Islands people. They
made great contribution to New Zealand, but it is with
Prime Minister Brown and the government. They weren't transparent or
consultant before they.

Speaker 2 (53:18):
Signed to your side. The deal itself. Mining the seabed
by the Chinese does that bother you?

Speaker 19 (53:23):
Well, there's quite a few things that we want to
digest in those documents and fairness, what's happening is again
we still don't have transparency because we get at the
same time you get it, and the same time the
Cook Islands people are seeing the comperhences, tragic partnership and
the three MOUs And so what we've got to do
is go through clause by clause and really understand the
risk and the implications of that around defense and security
in particular, and then we need to have a resett

(53:45):
around to what are going to be the parameters of
our constitutional arrangements and have those discussions with the Cookolents.

Speaker 2 (53:50):
Which brings us then to defense. Will we see this
long away to defense review made public before the budget?

Speaker 19 (53:55):
Yeah, it doo to come out very shortly, on a
matter of weeks yet.

Speaker 2 (53:57):
Okay, so we'll know what we're looking at then in
the we hare. Due to Colinto on yesterday, she seemed
to infer monumental amounts of money we're going to get
to spend.

Speaker 19 (54:06):
Is she correct them, Yes, there'll be a very significant
uplift and defense spending.

Speaker 2 (54:09):
In the budget. Yes, over a long period of time
and in a.

Speaker 19 (54:13):
Year and over a period of time. I mean, what's
happened here, Mike, is that historically our defense and just
you know, SECT has gone off and bought bits of
ships and boats and planes and stuff. What I've asked
for new leadership is a proper strategy for the next
fifteen years of where do we want to build capability
in the defense forces and therefore make sure that as
we tip money into it, that is actually good money
going into a good strategy. A lot of what we've

(54:35):
got to do is make things much more interoperable with Australia.
As you've seen even over the course of this week.
We have pights. They have pights that helps us when
we're doing things like the China does blow the budget though, no, no,
we have no money. No, we think we can manage this,
and so we've got a budget frame around it which
which we feel very comfortable.

Speaker 2 (54:52):
Money comes from where well, the.

Speaker 19 (54:54):
Money comes from us continuing to grow the economy but
also actually making we're not growing the economy, no, but
to continue to greet savings out of what we've talked about, right,
So there are savings and debt. Yes, there's savings. Is
what we're doing more debt. We'll talk about the budget
and we get there. You've just given it away. So
we're going to go even more debt to pay for this.
So I'm not arguing it's not a good idea. I'm
just saying there is more debt being loaded up against us. Well,

(55:15):
what we're doing is a couple of things. One as
we are going to continue the behavior of savings. We've
got a big savings drive and program that we have
to get out of the public service, and we'll continue
to do that every single day. As you saw at
the last budget, I think we generated some like twenty
three billion dollars worth of savings that funded a lot
of our investment in other areas. And that's the mentality
that we have of thinking of sweating the money that
we actually have and making sure it's deployed in the

(55:37):
right way. So that's the work that the budget ministers
are working through right now. I was with them last week.
We've got a lot more to do there.

Speaker 2 (55:43):
Just real quick. I heard you talk to Kerry last week.
Is Marsden reel or was that a thought bubble?

Speaker 19 (55:49):
Marsden's binary is real. Well, Marsden and looking at Marsden
was a commitment we made in the coalition agreement with.

Speaker 2 (55:54):
You were looking and doing it two different things.

Speaker 19 (55:56):
Yeah, But I'll let Shane Jones come back that because
it is actually part of a broader piece of work
around fuel security.

Speaker 2 (56:02):
It all makes sense, but is.

Speaker 19 (56:03):
It real Well he'll talk to that shortly. But what
I'd say is the fuel strategy is another piece. Like
you know, if we're going to import and fuel, you
need to have a number of days cover so that
if you got disrupted in a supply chain from Singapore,
actually we'll have we got enough cover here on the ground.
There's a whole bunch of things. That's one part of it.

Speaker 2 (56:20):
Just real quick and almost out of time. Is anything
tangible come out of Vietnam.

Speaker 19 (56:24):
Yes, just just much deeper trade relationship. I mean that's
an exciting place. I mean one hundred million people, thirty
years age, fastest growing economy for twenty five years, going
to average seven percent growth in the next five to
ten years. And massive opportunity for food, beverage, the traditional sectors,
tourism and also education. Education's massive and Vietnam for New Zealand,
a lot more to do there. So all about trade

(56:46):
there really.

Speaker 2 (56:46):
All right, go well see next week. We will see
you next week or not.

Speaker 19 (56:50):
I'm not sure. I'm back in Parliament expects so that
we will be doing for.

Speaker 2 (56:53):
Parliament's open next week. Oh, come on, congratulations.

Speaker 19 (56:56):
You keep giving me grief on this How long was
your summer? Holiday?

Speaker 2 (56:59):
Was a long summer? Twelve minutes away.

Speaker 1 (57:01):
From eight, The Mike Hosking Breakfast Full Show podcast on
iHeartRadio powered by the News.

Speaker 3 (57:08):
Talks at me.

Speaker 2 (57:09):
I'm just trying to work out where we are. We
at fifty to fifty on the you hate me versus
Luckson's a spineless wimp debate that normally comes out of
a Prime minister. I'll work through the text at the
moment as the smoke clears from the text machine. By
the way, the Yellow Chair meeting has been concluded between
Macron and Trump talk about the war.

Speaker 14 (57:29):
I think we've gon.

Speaker 20 (57:30):
End it within weeks if we're smart. If we're not smart,
it'll keep going and we'll keep losing young, beautiful people.

Speaker 4 (57:40):
That shouldn't be daying.

Speaker 13 (57:43):
And we don't want that.

Speaker 20 (57:44):
And remember what I said, this could escalate into a
third World war and we don't want that either.

Speaker 2 (57:51):
No, we do not husking for Prime minister. After that interview,
Mike unfair, can't discuss employment issues. Not a fair deal.
Mike Luckson's become a true politician. A lot of talk
and not a lot of doing. If this guy doesn't
get right of center and the very in near future,
there's no way hes getting in again. Mike, my brother's
n ardent national supporter, but is really disappointed with the
Prime minister. Mike, you'll be using disgraceful bullying tactics. I
think so far I'm on the right side of this,

(58:13):
but I'll go through the rest of it. Shortly eight
minutes away from.

Speaker 1 (58:15):
It, the Mike Hosking Breakfast with Bailey's Real Estate News
togs dead.

Speaker 2 (58:20):
Being a hypocrite. Might I agree that New Zealand's in
trouble because a minister has to resign for an innocuous
touch of the arm, But you just wasted five minutes
trying to force the Prime Minister to answer a hypothetic question.
It's not remotely hypothetical. That's the whole point. One of
the great issues image issues he has around him at
the moment, if you look at the polls, is he's perceived,
rightly or wrongly, as indecisive, and he talks a big

(58:40):
game in certain areas, but when it comes to the crunch,
he can't answer a simple question. Lux and listen to
Mike answer the question, or you will lose the next election.
Mike Luxon should look at a current leader of the
free world, love and or hate him. Trump got re
elected as he is decisive makes things happen. Mike, I'm
a national supporter of Luxe needs to go. Can't answer
a question. I don't think it's that strong, Mike. He again,

(59:00):
you're making a meal of trying to put words in
the Prime Minister's mouth. I wasn't trying to those asking
very simple question. Would it have been sackable? Sackable? Yes
or no. Good on you, Mike for insisting the Prime
Minister answer a direct question. That's not bullying, that's doing
your job. I would tend to defend it at the
end of the day, but I know you get a
bit angsty about these things. But at the end of
the day, you want the job in public life and
you want to be held to account. The obvious question

(59:22):
around the way you handle set expectations your people. Was
that a sackable offense? He could have easily said no,
it wasn't. I didn't think so, but he came to
his own conclusion. I had to accept it, or he
came to his own conclusion, and I talked him out
of resigning or yes, it was a sackable offense. They're
all easy answers to give. It's just the way he
handles that stuff is problematic and don't say it isn't

(59:43):
because it is. Listen to the interview again and see
how he stumbled with it. Scott McLaughlin began the return
this weekend. Is he going to win it all? Scott
McLachlin with us out of the States after the news,
which is next.

Speaker 1 (59:54):
News talk said, be setting me agenda and talking the
big issues for the mic costing break best with Bailey's
real estate, finding the buyers others can't use togs dead by.

Speaker 2 (01:00:12):
Seven parts out light. The sport world is coming back
to life, so the new year. Of course, supercarnts this
past weekend, testing in the Middle East for IF one
this week and Indy Cow's crank up in some Petersburg
this coming weekend. Indy these days is as much a
key we ex pat community as any Dixon Armstrong and
of course Scott McLoughlin, who dare we suggest, after a
series of increasingly successful season since his debut back in

(01:00:32):
twenty twenty one, might just be looking at the title itself.
Scott McLaughlan is with us. A very good morning to you.

Speaker 14 (01:00:40):
Hey, Mike Haydon.

Speaker 2 (01:00:41):
I'm doing extremely well. How's life as a dad?

Speaker 14 (01:00:46):
I'm really enjoying it. It's been an awesome outlet for us,
both from the off season. Basically as soon as the
season was done, you know, Lucy came into our lives.
So it's it's been pretty old, but enjoyed it. At
a great Christmas and just really really excited to get
back to the racetrack and and get amongst it. She's

(01:01:08):
coming this weekend, which would be awesome, was.

Speaker 4 (01:01:11):
The first.

Speaker 2 (01:01:12):
My next question was how old does she have to be?
So ear muffs on?

Speaker 14 (01:01:18):
Oh yeah, yeah, a muffs are on. Mum's pretty particular
about that, the same as dad. But she's going to
be right amongst it. She's been sleeping really well so
so hopefully haven't jinxed that. And she sleeps pretty good
on the at the hotel of the bus, so we'll
see how that goes.

Speaker 2 (01:01:33):
Fantastic, Correct me if I'm wrong. You're in North Carolina?

Speaker 14 (01:01:35):
Right, Yes, yeah, I'm in Charlotte, North Carolina.

Speaker 2 (01:01:39):
Were you you guys affected in any way, shape or
form by all? That dreadful weather that came through that
broad area of America over the Christmas break or not.

Speaker 14 (01:01:48):
Uh No, a lot of it was west of US,
about a couple hours west of US, but certainly got
a lot of rain around home. But yeah, it was
very sad up up up western North Carolina, up Ashville
and where the flooding was. You know, we go up there.
It's quite a popular spot for holiday and and whatnot,
and and a lot of breweries and really fun town

(01:02:11):
and unfortunately, yeah, a lot of it's been washed away,
but they're working really hard. It reminded me of christ Church.
You know when the earthquakes happen. It's like a town
like that where it's very strong, and you know, they
managed to rebuild. They will just going to take some time,
which sucks, but eventually it's gonna be really cool.

Speaker 4 (01:02:30):
Good.

Speaker 2 (01:02:31):
Hey, did you happen to see the supercars over the
weekend or not?

Speaker 14 (01:02:35):
I watched the highlights. The races are on too late
for me, but I certainly a lot of the racing
was really good. It was great to see some good
stuff and yeah, it was enjoying it.

Speaker 2 (01:02:44):
Race two Saturday Night waters Feene the side draft finish,
closest finish in the history of supercars. I've never seen
a side draft. If ever, you question the value and
power of side draft, that was it.

Speaker 14 (01:03:00):
Yeah, oh absolutely, and it's a huge tool these days
and so many sports, even an IndyCar in some ways,
the side draft is such a big thing and exploiting that.
It's a huge deal because not only you can get
a benefit from it, but you can actually impact the
car in front of you as well the car that
you're chasing. So ultimately, what Cam did was one get

(01:03:20):
a benefit of the draft and found an air pocket.
But he basically put if you could see the air
you would you would see that a lot of the
air got thrown over the top of his car and
the momentum shifted backwards. So it was a perfect move.
And yeah, it was awesome to see Ben.

Speaker 2 (01:03:36):
As regards you this year, fifth year, Am I overselling
the prospect? I mean, yes, you want to and of
course you do, can you?

Speaker 13 (01:03:44):
Yeah?

Speaker 14 (01:03:44):
Absolutely? Look I feel just as you know, comfortable and
confident as I did when I started, you know, sort
of going on our run here in New Zealand, Australia
with the supercars, so you know, I feel like I'm
at a right the right frame of mind. I feel
like I'm driving the best I ever have and I've
got all the tools to do it. So there's no

(01:04:04):
reason why we can't compete. It's just going to be
come up to us and how we execute. And yeah,
I have a ton of confidence and certainly the title
for me is a big goal.

Speaker 2 (01:04:13):
Good. How's your trajectory gone in the time, you know,
when you start? I remember talking to you towards the beginning,
different style of car, fitness levels, neck all that sort
of stuff. How's that trajectory worked out for you? As
far as you're concerned.

Speaker 14 (01:04:29):
I'm definitely in a in a great spot now, you know.
I'm I'm definitely feel more of an open wheeler driver
than I do a touring car driver. Now you know,
I've lost a couple of my habits of the touring car,
and definitely my fitness has probably reached another level just
for for this car. It's just a lot more physical.
But you know, it's you know, I've had had a

(01:04:50):
blast of here and I think, yeah, I'm in a
great spot. I think for sure last year I would
have loved to have been a little bit better. Maybe
one a couple more races or been a little bit
close at the five hundred, But we're improving every year
and I think we're right on tracks. So we'll see
how we go.

Speaker 2 (01:05:06):
How much changes season to season in terms of technical specifications, cars, engines, drivers, teams,
any of that.

Speaker 14 (01:05:15):
It just gets developed. You know, this car has been
around a long time. The hybrid this is this will
be our second year with the hybrid energy system that
we use. So and for the most part, you know,
engineers have gone between Penske Andassi are other teams, so
a lot of people have the knowledge from other teams
and it's spread throughout the series. So the competitive competitiveness

(01:05:38):
of the series is right there, and you're just looking
for nuances and looking for a little bits and pieces
to you know, really maximize and you know, I think
you know it's there's little things that you hardly will see,
but it's just at half tenth of the second and
you're just constantly developing that part. But in twenty seven
we'll go to a new car, so that'll be a

(01:05:59):
big thing.

Speaker 2 (01:06:00):
Fantastic hold on. We'll talk more about that in the
Moment's got mcglocklin's whether it's out of North Carolina. More
shortly thirteen past eight.

Speaker 1 (01:06:06):
The Mike Hosking Breakfast Full Show podcast on iHeartRadio. Power
it by News Talks.

Speaker 2 (01:06:12):
It be news Talks. It'll be sixteen minutes. Class doan't
Scott mcglonklin is when I say, North Carolina, take it
you are? When do you get to When do you
get to St? Pete for the weekend?

Speaker 14 (01:06:23):
We leave Thursday morning, so yeah, a couple of days.
So it's Monday over here.

Speaker 2 (01:06:26):
Now, Okay, as far as the holidays are concerned, all
the in between season, if you like, do you test?
Are you behind a wheel at all? Are you in
a sim anything like that?

Speaker 14 (01:06:36):
A lot of simulating, A lot of simulator driving for sure.
Probably in that nearly every week from the last race
of the year to now. That's pretty grilly, and then
probably in the car a couple of times. And I
also did the Daytona twenty four hour and a couple
other things as well, so sort of I do the
dayton and twenty four hours a bit of fun, but

(01:06:57):
at the same time it's great to get behind on
the wheel and drive things.

Speaker 2 (01:07:01):
That was with Shane, wasn't it.

Speaker 13 (01:07:04):
Yeah, Yeah, yeah, it was.

Speaker 14 (01:07:05):
It was awesome. I had a lot of fun.

Speaker 2 (01:07:06):
Does that change because there was there used to be
that thing in supercars I could never work out whether
you didn't like each other or it was just competition
or whatever in a different setting, in a different environment,
is it completely different now?

Speaker 14 (01:07:20):
I think, you know, we've always had that respect, and honestly,
I think we always have liked each other. But at
the same time, you're chasing that same goal. You know,
you're constantly trying to beat each other, and it makes
it hard to have a personal relationship in some ways.
But if I'm met honest and I think he's the
same deal.

Speaker 7 (01:07:39):
You know.

Speaker 14 (01:07:39):
I feel like when as soon as I came over here,
you know, we sort of cracked onto being friends again
and being a little bit more close. He's probably the
guy that I spoke too more often than not week
to week, and now see what he's doing over here
is awesome. But yeah, definitely it doesn't help the media.
That doesn't help it, and then they try and beef
it up, which is part of the show. But you know, yeah,

(01:08:00):
we definitely get along really well. Now.

Speaker 2 (01:08:02):
Is he living his dream?

Speaker 18 (01:08:05):
Yeah?

Speaker 14 (01:08:05):
Well, I mean I think I think he is I
think he's ever having a blast over here, and he's
got a house here now, and he's and he's gone
really well. Honestly, Mike, he's I've always said he's like
one of the most talented guys I've ever raced against,
and definitely from a respect level and fund racing has
been great. But he's killing it like he is good
the NASCAR. What he's doing is so hard and I

(01:08:27):
think he's done such a great job.

Speaker 2 (01:08:28):
Fantastic And you're clearly loving America and and you know,
I figured all the politics and all the weird stuff
about it as a country, as a lifestyle, you're clearly
loving it.

Speaker 14 (01:08:38):
Yeah. Yeah, look, I think it's it's been the next
step in my career and and you know, I've really
enjoyed being over here. Certainly miss home a lot, but
at the same time, yeah, I'm building a life here
with my wife and now my baby girl, and yeah,
having a blast doing that. So definitely always sharing the
all blacks, So that's the main thing. And yeah, we're

(01:08:59):
enjoying it over here.

Speaker 2 (01:09:00):
Good stuff is I read this speaks to who you are.
Did you honestly when you first met your wife to
be Carly you told her you were a mechanic.

Speaker 14 (01:09:10):
Yep, yeah I did. Yeah, it was you know, make
sure that she didn't take me for advantage, right, So.

Speaker 2 (01:09:19):
It worked that good worked out extremely well.

Speaker 18 (01:09:23):
Well.

Speaker 2 (01:09:23):
Listen, good luck with this weekend, good luck with the
whole season, and we're following you with a great deal
of interest and hopefully we'll talk again.

Speaker 14 (01:09:30):
So yeah, thanks, Mike, appreciate it.

Speaker 2 (01:09:33):
Good on you, mate, Nice to talk. Cares Scott McLoughlin
out of North Carolina. This morning, it's nineteen past.

Speaker 1 (01:09:38):
Eight the Mike Hosking Breakfast with Vita Retirement, Communities, News Dogs.

Speaker 2 (01:09:43):
Head b now HR real headache at times of course,
the hiring, the firing, the performance reviews. It's minefield and frankly,
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I'm just driving my Mustang, which is a Scott mcloughland
number twenty very NASA is just looking up those a

(01:10:48):
couple for sale in the country. If you want a
Scott in the clockland Ford Mustang ones in Invercargol nineteen
hundred and fifty eight k so brand new one sixty nine.
Other ones in Auckland twenty eight one hundred k still
brand new one sixth nine. No bab that's what you're into.
World's Best Airline, by the way, had been handed out

(01:11:10):
this morning. This is Airline Ratings dot Com and the
twenty five World's Best Airline Cabin Class awards, So the
world's best first class has gone to Singapore Airlines. The
runner up Istard Etyard don't fly here, but you can
get them out of Australia and go into the Middle East,
which goes back to that whole conversation we were having
earlier on this morning about government owned airlines. I mean,

(01:11:32):
it seems to me the best airlines in the world
all happen to be government owned. Is that a model
or is that just luck? So you got Ettyard, you
got Guitar, You've got Emirates, You've got Singapore Alatarlia is
probably an example of the opposite best business class Guitar Airlines.
They fly here with the a Q Suite, the runner

(01:11:54):
up in business as Cafe Pacific, the aria Is Suite,
which is a brand new product. They fly here, but
not with the aris Sweet. At this point, standing of Cathay,
correct me if I'm wrong. Is they've got some fairly
old planes coming into the country at the moment because
we're at the bottom of the world. But you can
still get to Hong Kong if you want to get
to Hong Kong. But that's probably a separate subject premium
economy emirates and quantus time for first place, which is

(01:12:14):
then and the reason I mentioned all of this being
a patriot. The world's best economy class is to be
found in Korean Air, which also flies here. And the
runner up is the mighty New Zealand. So another day,
another reward. So good on them. By the way, I
didn't have time to raise it with the Prime Minister,
but the word is that they're looking to increase. They

(01:12:35):
used to call it EQC. Now they call it something
weird like the National Hazard's Insurance Levy and we all
pay for it. And this is the ability to fund
when you know cyclones roll through the place, to pay
the first x number of dollars increasing the amount of
cover that the Natural Hazard's Commission provides for residential buildings
from three hundred and forty five to four hundred and

(01:12:57):
sixty thousand dollars including GST. So that's what they're looking
to do the most in the proposals. This is a
proposal at the stage. But this is my problem is
we probably need to do it, and it's an enforced cost,
and it's like rates and councils and stuff like that
they're looking at four hundred bucks a year from each
and every one of us. The problem with this is,
of course it's inflationary. It's just yet more cost that

(01:13:19):
comes from nowhere, and they just go, yep, well, you
can pay four hundred dollars more than most of the
proposals are looking at a nine hundred and forty eight
dollars a year, seventy two percent more than the current maximum.
So that's a big increase. Our cabinet's expected to decide
on the sometime around July. It's underfunded the NHC. There's
only a thirty seven percent chance it's levy will meet

(01:13:42):
the costs over the next five years. So they're like
acc they don't have enough money. It must cover the
first two point one billion in claims before they get
the reinsurance cover at eight point two billion. So in
other words, of something major hit then they don't have
the dough to cover it. They only have five hundred
and fifty million dollars and the kitty at the moment,
so they need to have two point one They've got

(01:14:04):
five hundred and fifty million. So the difference is you
and I'm stumping up something like four hundred odd dollars,
so stand by for that particular cost of living thrill
sometime in the middle of the year, right, So we'll
go to UK and just a moment, Rod Little the
MP who came out of a shop unfortunately got caught on.
You see, this is a sackable offense. The MP comes

(01:14:25):
out of a shop, gets into a dispute with a
constituent and dexam smakes them in the head and Dexam right,
not really, Andrew Bailey, is it so? And he's ended
up going to jail today? So yes, sacked, Yes he
got suspended, and yes he's going to jail. So we'll
get all the details on That was right after the news,
which is next News, Talk.

Speaker 21 (01:14:46):
Time Westing You there alone, the Breakfast Show, Kiwi's Trust
to Stay in the Now, the Mike Hosking Breakfast with Vida, Retirement, Communities,
Life Your Way News, togs Head b Mike.

Speaker 2 (01:15:04):
My Son from Wellington. There's a NASCAR design engineer living
in Charlotte, friends with Shane and Scott got me nine
laps around Charlotte Speedway last year in a NASCAR Cup
car retired driver of kit How incredible is that? I?
Mike flew to Hong Kong recently with Cathay on the
A three fifty from Auckland Business class. Absolutely superb service,
really good cabin. Please to hear it, Mike here, New

(01:15:25):
Zealand premium economy is three point seven six eight times
better than Emirates. Will glad you're a happy customer. Twenty
three to nine paskimes.

Speaker 11 (01:15:33):
Right.

Speaker 2 (01:15:33):
Let's go to Britain now and Rod Little's with us. Roderick,
very good morning to you.

Speaker 13 (01:15:37):
Football in meat.

Speaker 2 (01:15:38):
So when you come out of a place and you
get caught on CCTV and you're an MP and you
whack someone about it, but that tends not to go
well for you, as Mike can probably explain, Yes, I.

Speaker 13 (01:15:52):
Think that's exactly right. And I think basically Mike Cadsbury
is a labor MP for runcorn is over. There is
no more. Mike Cavensbury is the guy because he didn't
just punch someone. He punched someone. They continued punching them
when they were lying on the ground and unfortunately say
it was all called on CCTV. He was suspended by

(01:16:13):
the labor parties. Now come before a court and they've
decided that he should go to prison for ten weeks
and that is more than enough, more than ample to
ensure that, whether he wanted to or not, there will
be a challenge to his authority as an MP. And
that means, through a various, typically British complex, elaborate process,

(01:16:37):
there will soon be a referendum. Okay, And so did
I say referendum elections by election?

Speaker 2 (01:16:45):
By election? It was he did he have formed by
the way, I'm sure I asked you this at the
time when it happened. But did he have formas or
has to come out of the blow?

Speaker 13 (01:16:54):
It's got fought for certain belliterents he's got, but nothing
really and we didn't really know him. He's the MP
for a constituency in the north of the country, run Corn,
but which is nonetheless quite posh. So it's always been
a fairly keystone constituency switching from one to another. And

(01:17:16):
if the last election and reform came second, and I
don't think there's much doubt at all that, you know,
if the election came up within the next you know,
three or four months, the reform would walk home, which
is which is a problem. Firsu Kastama, Mike Gamesbury. I
mean he looked a broken man in court, head in

(01:17:37):
his hands, you know, and I felt some sympathy for him,
to be honest, but the footage of him was so
convincing that there was nothing to challenge. He had literally
nothing to say apart from.

Speaker 2 (01:17:51):
Sorry, okay south Port. The inquiry where are we at?
What's the latest?

Speaker 13 (01:17:56):
Well, the latest is that is that one of the
charts with overseeing our counter terrorism operation believes that, indeed
has been said, there was far too little information given
out about the attacker. When ministers and the police and
the prosecuting authorities all knew he had stacks of rising

(01:18:20):
or knew that he knew his name, knew his background,
knew his previous and none of this was put out
to the public deliberately. And the suggestion is that because
of that we had those riots in the summer, because
people thought that they were that information was being withheld
from them. Now as it happens, I find it hard

(01:18:44):
to class that Southpoort attack as a terrorist attack. It
was a lunatics attack basically, but nonetheless it led an
awful lot of people to believe that is what was happening.
And the reason they thought that is because once again
seeing the guy was black and have Gadi material on him,
decided not to tell anybody about it in case he's

(01:19:05):
upset them, or what upset them even more was not
being given the information. And it's a salutary lesson for
the next time.

Speaker 2 (01:19:13):
You know, do correct me if I'm wrong. But from
my fine, we've just been following Macron, who's been at
the been at the White House and talked with the
new president, and it seems to me so Keia. While
this whole meeting in Kiev has been going on, ke
has been in India trying to restart some trade talks.
Is he in India Honor's way to Washington.

Speaker 13 (01:19:32):
Yes, he's meant to be on his way to Washington.
He's Sakia is far better going around the world that
he is when he's in London, believes me, and we're
all very happy for him to be there. He is
in India at the moment. There are important trade talks.
There's also the various important agreements we have on defense
with India, which will suddenly become much more acute and

(01:19:55):
hed the deals we have with you in Australia on
defense given the current rift with the US. But yes,
he is supposed to be going to Washington following Macron,
and his job there is to somehow act as a
kind of intermediary between the European Union and the USA.

Speaker 2 (01:20:17):
Okay, and so his whole house. What's the anticipation of
his whole boots on the ground peacekeeping force along with
the US back up thing, what's the anticipation that's going
to go?

Speaker 13 (01:20:26):
Well? Well? I don't think. I don't. I think he's
played his hand really well. I have to say, as
someone who hasn't admired him as a prime minister particularly,
I think in this particular juncture, he has kind of
walked the taut rope between neither offending the Europeans and Ukraine,

(01:20:48):
nor indeed offending America too much. The more he does that,
the more he is a diplomat, complements Trump and perhaps
suggests the second way the greatest success he will have.
And it wouldn't surprise me to see Starmer emerge from

(01:21:09):
all this in a slightly better light, because I think
this is where he is a far better politician. He's
awful at home, he carries nothing to the domestic audience.
He's thought of his robotic and untruthful and you know,
this hasn't been a good first six months at all,

(01:21:31):
whereas when he's been abroad he has handled himself with
a degree of.

Speaker 2 (01:21:37):
Skill and adroitness, saying that Rod, does that translate? In
other words, if you do well on the international stage,
does it translate back domestically? Going there someone to be
proud of in the British quite like that.

Speaker 13 (01:21:50):
It can do. It certainly did at various times for Blair.
It certainly did for Gordon Brown during the financial crash,
when Gordon Brown didn't say it himself, was able to
suggest that he'd saved the entire world, which was perhaps
stretched it, but he did did do very well. And

(01:22:11):
of course there is no question that catches dovestic politics
deeply unpopular, such as foreign policy hugely popular.

Speaker 2 (01:22:20):
Always going to catch up with you talk on Thursday.
Appreciate it very much. Right a little out of Britain.
By the way, the finances for January were in surplus,
to highest level for the month since records began. So
suddenly you think, oh my god, the British economy is
coming right, and until you hear this morning's news, which
is thirty five stores are going to be closed within
days a major fashion retailer, almost tripled the amount of
stores originally earmarked the closure. This is Select Fashion, they're

(01:22:42):
the fast Fashion a lot. They were going to close
twelve they're now closing thirty five. So good news and
bad news on the economy. It's sixteen to.

Speaker 3 (01:22:50):
Nine International correspondence with Ends and Eye Insurance, Peace of
mind for New Zealand business. The High Asking Breakfast Full
Show podcast on iHeartRadio.

Speaker 1 (01:23:04):
Coward By News talks at b.

Speaker 2 (01:23:07):
For Ali Britain. He made starmer an announcement the other
day four hundred million dollars to a place called Grangemouth.
The reason I'm telling you this, it's is an oil refinery.
Patronis walked away and they were going to close everything down.
This is in Scotland. Scotland threw some money at it
as well last week and they asked the UK government
to get involved, which they did so. It's a refinery

(01:23:28):
that was basically they were going to keep sixty five jobs,
but about five hundred we're going to go. There are
two thousand people directly employed at the site. This is
Wayla in South Australia all over again. It's the Marsden
Point here. It's it's do your back, you know, do
you back the local area? Do you invest in fossil fuels?
Do you you know, suddenly save and it sort of

(01:23:49):
goes and I suppose dovetails into this kind of conversation
we're having around asset sales. You know, once it's gone
and sold and the person who bought it, the guy
who owns the place in Wales's guy called Gupta. He's
a biti AI out of Britain. Not that he cares.
Whole thing's gone, you know what, and the government's got
to come in and bail it. And the same appears
to be the case in Grangemouth, So small town. Two
thousand people directly employed at the site, five hundred at

(01:24:12):
the refinery, four hundred and fifty at the forties pipeline
in the North Sea, in another thousand at a petrochemical
business Anios petrochemical business Inyos. There's a name, so one
point five million dollar report one and a half million
dollars for a report into the feasibility becoming a low
carbon energy hub known as Project Willow. So they're all
a bit trendy and cool. Let's do it. Let's toss

(01:24:33):
four hundred million dollars into it. So the government increasingly
all over the world appears to be in the business
of saving stuff that got sold off to somebody else
and then it went pear shaped, and the tax bar
has got to come back. And that's so My conclusion
is from the interview if you missed it earlier on
this morning for the New Zealand initiative. Greggsmith started it
over the weekend. I think David Seymour of the act

(01:24:55):
parties involved in it as well. This general idea that
we might in the next year be having it a
cushion around asset sales. My gut says New Zealand is
over it, and in some senses it makes sense. In
others it doesn't. But we've been there, we've done that,
and the antis have got enough weaponry or evidence to

(01:25:15):
be able to go just have a look at some
of the stuff that went pear shaped. We don't want
to go there. There's no guarantee we won't go there again.
So I think there's no political mileage in advancing the course.
Maybe wrong, but let's see how it unfolds.

Speaker 1 (01:25:27):
Ten to nine, The Mike Hosking Breakfast with the Range
Rover Villa News TOGSADB Mike.

Speaker 2 (01:25:33):
Sounds like New Zealand Railer's exactly if you if you're
an anti asset sales person that you post a child
simple as a Michael Hill. Now he's a very good
insight into how buggered the New Zealand economy has been.
Michael Hill International reported yesterday as part of the reporting
season down overall a smitch zero point seven percent. That

(01:25:55):
won't be happy with it, but nevertheless, it's not the
end of the world. The group's New Zealand still posted
a seven point four percent four So just think about
that internationally as a company zero point seven down, but
in New Zealand seven point four percent. That's major. So
you think to yourself, well, hang on, where else have
they done? Okay, well, let's look to Australia. They went

(01:26:16):
up in Australia. They made more sales in Australia, indicating
perhaps the New Zealand Australian economy might be slightly more
robust than the New Zealand economy. Then Canada, they went
through the roof. In Canada, they're selling jewelry light. There's
been no tomorrow, So in Canada they're doing well. In
Australia they're doing moderately well. In New Zealand, they're going backwards.
So there's a very good snapshot of a player that's

(01:26:39):
in three separate economies with three reasonably different results, one
really good, one quite good, and one completely backwards. Let's
hope the green shoots that we start to see at
the moment of turning six minutes are or growing six
minutes away from nine.

Speaker 1 (01:26:56):
Trending now with Chemist Warehouse the Real House Fighter.

Speaker 2 (01:27:00):
A green shoot can't turn Kenna, it just grows. Awards
season SAgs yesterday, everyone commenting about how then everybody looks
it's what they're doing at the moment. That's how that
entertainment system works. Everyone goes, oh, they're looking Sathe and
how did they get sath? And incredibly thin, so amazingly thin.
What I did note with interest was Demi Moore was
in Sydney over the weekend and yet in Los Angeles yesterday.

(01:27:23):
Now I know it doesn't take that long. It doesn't
take days to get there anymore unless you're flying the
seven five seven with their New Zealand with the Air
Force fourteen hours is taking Luxon fourteen hours to fly
to Vietnam. You can do it commercially. For about nine
maybe nine and a half. He's flying to Darwin, at
which point they go to the BP and they fill
it back up, check for parts, and then he flies

(01:27:44):
on and from Darwin and you're right way up there.
It takes another seven and a half to get to Vietnam.
It's incredible. Anyway, where was I?

Speaker 3 (01:27:52):
Ah?

Speaker 2 (01:27:52):
Yes, the SAG Awards chamalat best for Bob Dylan. Adrian
Brody has won everything till now. So you know interesting.
Demi Moore in that very unusual movie that somebody told
me not to watch because it's too preaky, ghoulish and weird.
What's that called Kenny Substance Substance Conclave one, and that's

(01:28:13):
becoming increasingly relevant. Jane Fonda, who apparently looked dazed. They
couldn't work out what was wrong with her. She picked
up a Lifetime Achievement award and she was set to go.

Speaker 12 (01:28:24):
Make no mistake, empathy is not weak or woke, And
by the way, woke just means you give a damn
about other people. Back to empathy, A whole lot of
people are going to be really hurt by what is
happening what is coming our way, And even if they're
of a different political persuasion, we need to call upon

(01:28:48):
our empathy and not judge, but listen from our hearts
and welcome them into our tent, because we are going
to need a big out to resist successfully what's coming
at us. This is big time serious, folks, So let's
be brave.

Speaker 2 (01:29:10):
What's coming at us.

Speaker 14 (01:29:13):
She was basically alluding to the current political climate.

Speaker 2 (01:29:17):
I think think was she going to get an email
from you the name five things she'd done this week?

Speaker 14 (01:29:22):
Well, she's comparing it to the era of McCarthyism, when
she of course saw firsthand, because she's been around.

Speaker 2 (01:29:28):
For a while, very much so. She has weird her
on the program a couple of years ago. She was
pleasant enough, wasn't she like a woman? I wish I
could stay for another couple of hours, but apparently the
rules prevent it. Back tomorrow morning from six as always

Speaker 1 (01:29:46):
For more from the Mic Asking Breakfast, listen live to
news talks it'd be from six am weekdays, or follow
the podcast on iHeartRadio.

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