Full Show Podcast: 29 April 2025

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
New Zealand's home for trusted news and views, The mic
Hosking Breakfast with the range Rover, the la designed to
intrigue and use Togsdad Bs.

Speaker 2 (00:09):
Morning and welcome today. Good news for house builders. We
got good news for Wellington as Tory Farnow quits. We
got bad news for the government as the Finance Minister
bales on a charity tax crackdown on the budget. Richard
Quest on Trump's one hundred days in tariffs. Gatherine Field
and France and Rod Little in the UK Hosky Welcome
to the day seven pass six. To tell you what,
For a while there being a tough guy was good

(00:30):
for the old cred, wasn't it. Victor Rawbarr, mister Malay,
mister Becally all reveled and succeeded at the polls and
their macho Trump esque persona. The world was moving away
from me too and progressivism that had been a very
distinct move to conservatism, especially in parts of Europe. Being
like Trump was more often than not good for your
political aspirations. Peter Dutton had a touch of that, but sadly,

(00:52):
in the length of an Australian campaign, it's all changed.
The Marey's looked like Trump, took like Trump, promise policy
that sounded like Trump. The worse it's got chances by
Saturday night he'll be a loser. Meantime in Canada, who
are voting as we speak. The reason mister Carney's and
the lead is twofold one. The bloker ran the place
before him, was a progressive sap and was the victim
of a movement against the left, but also being there

(01:13):
for a decade, and his clock hat basically run out
but two his replacement has made much ground in the
newfound vein of political success, looking not at all like Trump,
but being tough enough to stand up to him. Mark
Carney will most likely win today, and if he does,
the fortunes of his Liberal party will be one for
the ages. The same anger, frustration, and impatience that led

(01:35):
Trump to victory over a hapless socialist should have played
out the same way was going to play out the
same way north of the border, and yet in the
space of a couple of months, the entire scenario has
been tipped on its head, looking like Trump, like polyev
and the Conservatives do is no longer currency. It's bad news.
They've tried desperately to direct the campaign towards the issues
that had Canadians so upset for the past ten years,

(01:57):
cost of living, cost of housing, jobs, But the ten
garriffs and Trump and his insults have fired them up
and often to a new direction, hating on America. Carnie
and the Liberals have seen it, grabbed it, run with it.
The last poll had a three ish point gap to them.
They've come back from twenty points down. It's astonishing. I mean,

(02:19):
let's do the counting later today. But if they win,
what's it say about the distaste for Trump? What's it
say about a single issue campaign? And will there have
ever been a bigger victory snatched from the jaws of defeat.

Speaker 1 (02:33):
News of the world in ninety seconds.

Speaker 2 (02:35):
We have times in Spain and Portugal overnight the powers
out all over the place. Trains aren't running, people are
trapped in elevators.

Speaker 1 (02:41):
As well as obviously leasing Wi Fi and the cellular network.

Speaker 2 (02:45):
I don't know how well you can hear me at
the moment.

Speaker 1 (02:46):
The cellular network has been very sketchy.

Speaker 2 (02:49):
Mayor of Madrid's got some advice.

Speaker 3 (02:52):
Limit your movements, stay where you are, keep traffic lanes
free and if the emergency services don't pick up your call,
head straight to the police and fire station so he
can try and resolve things as soon as possible and
to be able to get to all the emergencies that
are happening.

Speaker 2 (03:05):
It's atmospherics apparently, and they think it could go on.
Fordight are the wars? War one? White House, Full Court
Press this morning on a ceasefire from Russia.

Speaker 4 (03:12):
He is increasingly frustrated with leaders of both countries. He
wants to see a permanent ceasefire. I understand Vladimir Putin
this morning offered a temporary ceasefire. The president has made
it clear he wants to see a permanent ceasefire first,
to stop the killing, stop the bloodshed.

Speaker 2 (03:28):
War number two a case against Israel's being heard in
the Hague.

Speaker 5 (03:31):
It is about is really destroying the fundamentals of life
in Palestine while it blocks you and and other humanitarians
from providing life saving aid to the population.

Speaker 2 (03:43):
And in a Paris court, the people who allegedly grabbed
Kim Kadeshi in all those years ago ot fashion week
there on the doc It's.

Speaker 6 (03:48):
A man known for some French crime reporters as old
Omar A self confessed career criminal who's sixty nine and
actually admits participating in the heights. Denis Abas, who's seventy two,
also admits playing his part, but even publishing a book
call Wait for Its Eye, kidnapped kN Kardashian.

Speaker 2 (04:04):
The others, of course deny it. Are the BBC been
having a look at themselves again after the Hugh Edwards debarcle.

Speaker 7 (04:10):
They tend to actually be powerful people who've taken advantage
of their power to behave badly towards more junior people,
and those junior people often are very reticent about complaining
because they know they could blight their own careers.

Speaker 2 (04:24):
Finally, if you needed reminding, more evidence this morning about
ultra processed foods. The definition is foods that contain little
to know whole food and a manufacture from chemically manipulated,
cheap ingredients. Think about donuts and soft drinks and breakfas
cereals and all that crap. Anyway, new studying this morning
looked at two hundred and forty thousand people. They found
every single bite of ultra processed food raises your chance

(04:44):
of premature death just a ten percent increase in total calories,
so that would be the equivalent of a donut a
day for an average adult male. Donut today increases the
risk of dying prematurely by three percent. As News of
the World of warnings in ninety Speaking of warnings, Yes,
the this Portugal and Spain thing's weird. They did warn
it could happen last week. The atmosphere and the weirdness

(05:06):
in the in the space. It's hit them specifically, so
huge power outages. They still don't know what to do
about it. They had emergency meetings and there were people
in lips and traffic was jammed and the whole thing.
Panic buying at the supermarkets. Of course, everyone went for
toilet paper and pasta like they always do, so we
took Catherine about that later. Meantime, in Britain, they're aiming
this week for the hottest April in seven years. It

(05:26):
could get to stand by in London this week twenty
seven degrees twelve past six.

Speaker 1 (05:34):
The Mike Hosking Breakfast Full Show podcast on iHeartRadio powered
by News Talks Evy.

Speaker 2 (05:43):
I reckon puting is stringing him along. I mean, what's
the point of a three days cease fire to mark
the end of World War Two? Which is what he's
announced over night eight through eleven of May. So we're
going to end one war, stop one war? Do they
ever actually stop? Does anyone fully check whether it sees
far as the cease fire? Of course the Ukrainians say
they don't, but he claims at the moment eight through
eleven have made to Markey Ady the anniversary of the
ending of WW two fifteen past six right, I opened

(06:06):
JMI Wealth. It's Duesday morning, Andrew Keller Hurt, good morning,
very good morning. My speech coming from the Finance Minister
in the Hut this morning. Now the charities is interesting,
but also how tired. Her budget is potentially going to be.
I assume is going to be part of it.

Speaker 8 (06:20):
Yeah, let's start the ball rolling with the budget. I
know it's early days. I know it's sort of twenty
second I've made Mike is the budget. I know it's
three weeks out, but you know, gone are the days
when everything's announced on the days, and you know, now
we get all the pre announcements and yes to say.
As we speak this morning, Nicholas Willis is preparing to
deliver a pre budget speech and lower Hut to the
Chamber of Commerce, Mike, we can only speculate on what

(06:43):
she will say, and because of those early days, I
suspect we won't get too much detail, but plenty of
it will be teased out over the next three weeks.
There was, though, what I want to draw attention to
this morning, Mike, is what was a seemingly innocuous announcement
last week from the New Zealand Debt Management off Now,
this could lead to some speculation about some of the

(07:03):
big picture aspects of the budget. Now, I could be
drawing a pretty long bow here, Mike, but let's speculate anyway.
Let's run with the logic and see how we get on.
So ends a DMO released the schedule of the New
Zealand government bond tenders for May, and there's been a
reduction in the weekly issuance of government debts. So we
get a weekly tender of government bonds. They've got to

(07:24):
sell so much of this stuff at the moment they
have a regular tender. Now that's been reduced from five
hundred million a week to four hundred and fifty million
a week. It doesn't seem particularly noteworthy, but it could orbit.
It could have some implications for the budget. So here's
the logic, Mic. It just seems unlikely to me that
the ends of DMO would reduce the tenders if, in fact,

(07:46):
the contents of the budget, be it fiscal policy or
economic forecast or fiscal forecast, if any of that would
warrant an increase in bond supply, which presumably would happen
immediately afterwards. An ends of DEMO will be pre be
to what's in the budget, one would assume, because they've
got to plan how they're going to fund the next
few years.

Speaker 2 (08:05):
In other words, so.

Speaker 8 (08:06):
Look, if you're prone to speculation, it suggests there won't
be the need for more government bonds as a result
of the budget, So future depthsits aren't going to get worse. Now, Yeah,
if that's the outcome, it's great, particularly this little bond
markets are pretty volatile at the moment, Mike, and you
don't want to be you don't want to be funding
when you don't have to. Tax receipts have been running
ahead of forecast.

Speaker 9 (08:26):
Well, look, look it's speculation.

Speaker 8 (08:28):
Might let's see what the minister has to say, but
who knows.

Speaker 2 (08:31):
All Right, how we go yesterday we're playing catch up.

Speaker 8 (08:34):
We were playing catch so we had Friday off work.
That meant that offstall markets had two trading sessions for
the Australasian sort of markets to catch up on, so
that they traded Thursday night, traded Friday night and they
were positive sessions. Has the markets over there reacted to
what appeared to be a bit of a relaxation the
attitude to tarifs from the Trump administration. I think since

(08:55):
then over the weekend that's firmed up a little bit.
It now appears to be more of an ad admission
that it's going to take a while to get all
this done, and we're unlikely to see a lot of deals,
a lot of deals being written, and a lot of
stuffing being formalized in the ninety days. It just doesn't
seem likely.

Speaker 2 (09:14):
Anyway, we had.

Speaker 8 (09:15):
A positive session on our market, we had a positive
session on the OsO Max, but during the day US
futures markets weakened off of it and so that held
us a little bit back. US markets have fallned a
little bit overnight.

Speaker 10 (09:24):
Now.

Speaker 8 (09:25):
Just on that note, Australian market, they will be shifting
their focus a little bit now to the election. I
would make the comment that I think global events will
still take presence over election news flow over the course
of the week, Mike. Overnight, we had what's called the
Dallas Fed Manufacturing Survey. I was looking at that just

(09:45):
to see whether or not we tend to confirm the
weaker tone that we have so many US economic barta recently,
and it did big miss. So and I think that's
just some say Trumpet administration is going to have to
address us. Lots of data this week. You've got job starter,
non farm payrolls at the end of the week, GDP
Conference Board survey, and of course, I think Ryan commented
on this just before you came on.

Speaker 2 (10:06):
Are a lot of company.

Speaker 8 (10:07):
Results this week, Apple, Microsoft, Amazon, Meta, Coca Cola, Visa, McDonald's.
So we'll pick the eyes out of those as they pop.

Speaker 2 (10:13):
Up, make look forward to it. What are the numbers
for now?

Speaker 8 (10:17):
The Dow Jones has just sneaks over the forty.

Speaker 2 (10:19):
Thousand dollar mark.

Speaker 8 (10:20):
It is down eighty five points on the sessions about
point two percent. The S and P five hundred is
down just over half percent, just under five thousand, five hundred,
and the Nasdaq is currently at seventeen thousand, two hundred
and twenty eight, which is down point eight to nine
of a percent. The forts one hundred barely changed over
nine eighty four one seven. The nick A gained point
three eight percent thirty five thousand, eight hundred and forty.

(10:43):
The Shangha composite was down point two percent. As I said,
the Aussies yesday gained point three six twenty nine points
seven nine nine seven the clothes there and we gained
eighty one points and then the next fifty two thirds
of percent gain twelve thousand and ninety eight. The Kiwi
dollar has just come back from the sixty cent mark,
but it's still sort of pretty good compared to where

(11:03):
it was. Point five nine sixty three against the US,
point nine two nine one against the Aussie, point five
two to eight against the Euro, point four four four
four against the pound, all the fours again, eighty four
point eight seven against the Japanese yen gold, three thousand,
three hundred and thirty six US dollars and brentbrewed sixty
five dollars and thirty eight cents.

Speaker 2 (11:23):
Baby little stuff, have a good day. Andrew kelliher jmiwalth
dot co dot m z pasking Internaciani deliverou shares he
through the roof highest level than three years. Why because
door Dasher after them. They were offering about New Zealand
roughly seven billion dollars. They don't expect any major regulatory hurdles.
Geographically they don't overlap. So it looks like door dashers

(11:44):
into delivery. I looked that up this morning. Door Dash
and Delivery are here. It's a funny thing. I didn't
even realize that was a thing here six twenty one.
You're a news talk z Beats.

Speaker 1 (12:01):
The Vike Asking Breakfast Full Show podcast on iHeartRadio powered
by News Talks.

Speaker 2 (12:06):
It'd be so the Wellington mayor, Mike's going to go
and collect a good wage by sitting in a race
based Maory seat in the council. What a waste of
ratepayers money. Well that's up to I mean, I tend
to agree with you, but that is up to the voter.
Of course, she is chasing an elected seat, and you'll
be aware that the government are looking to get rid
of the race based seats. Those councils who didn't acquiesce
tot a government instruction will have a vote. Take it

(12:29):
to a vote, which is what Wellington are doing. So
come election time you will vote for whether you want
race based seats or not. Even if race based seats fail,
the race based seats currently enacted will last the twenty
five to twenty eight periods, So in other words, she
will stand. If she wins, she'll be there for three years.
But it does go back to everything really that's wrong

(12:49):
with local body politics that we've talked about extensively on
this program. How she, ever, with her lack of experience,
got elected, Lord only knows, but she did. She split
the field or the field was split, so she had
that advantage, I guess. But if you look at places
like tim of the Pool, and you look at Julian Genta,
and you look at the inexplicable voting pattern of certain
places in Wellington, you know, how do you? And it

(13:11):
all ends and tears opens the field up, though I
think doesn't it six twenty.

Speaker 1 (13:16):
Five trending now with Chemist Warehouse book in Your Flu
Vaccination Today.

Speaker 2 (13:22):
As we mentioned yesterday, Rixham had a very good week
in third promotion in a row. This morning. The trailer though,
of course, for season four of Welcome to.

Speaker 11 (13:29):
Rixam Birmingham SC they have Tom Brady stop playing, thank god,
so you'll have to play.

Speaker 1 (13:38):
Over the last four years. It's been this roller coaster
of magic.

Speaker 10 (13:42):
We are all dreaming of another promotion.

Speaker 1 (13:44):
Can you do it again?

Speaker 10 (13:46):
Back to back to back promotions?

Speaker 2 (13:49):
It's never been done before, the sort of stuff that
fairy tales are made of.

Speaker 1 (13:55):
Realistically, we will lose, but got it.

Speaker 9 (13:58):
Part of the Birmingham ownership.

Speaker 2 (14:00):
If it's Tom.

Speaker 1 (14:00):
Brady, it's a friendly competition. Well that's on friendly baby
breakers are you can't break Tom Brady's art.

Speaker 2 (14:07):
That's wrong with you. Football has got this nasty habit
of kicking you in.

Speaker 1 (14:10):
The bollocks, breaking the bars.

Speaker 2 (14:15):
May fifteen, Disney Plus. Speaking of Disney Plus, I watched Mobland.
I'm watching Mobland at the moment. I've recommended it to you.
I don't even know it's on Disney Plus. It probably
isn't It's probably on something else. It's probably on Amazon anyway,
it doesn't matter. It's brilliant Helen mirram Ps Brosnan, Guy
Richie is your main point. It's very Guy Ritchie esque
and I can't see where it's going, but it's superb

(14:39):
in its journey.

Speaker 10 (14:41):
It's Prime Video by way.

Speaker 2 (14:43):
Prime Video is that Amazon Prime Is that the same
as Amazon Prime Video? Disney Plus Disney Neon, double Down,
Blue Green, whatever, it's gonna go up and down round
around the circles. It's somewhere. Go find it and you
will not regret it. Leaving now what Nikola willis doing
with this charity. She's after the charities on tax until
she does a report. Now she's not after the charities

(15:04):
on tax. What on Earth's going on? There were on
this after the news, which.

Speaker 1 (15:07):
Is next time setting me agender and talking the big
issues for the mic costing breakfast with Bailey's real Estate,
your local experts across residential, commercial and rural news.

Speaker 2 (15:19):
Tokstad b thank you Mike for your partner getting our
sport back on sky. You refer to snooker I bum
nott you how much implements I actually had at the
end of the day, but we got it there, so
that's encouraging it as of nine o'clock to night morning,
Mike Tory far Now, how magnanimous of her to step
aside for Andrew Little in the well into Maryalty Race
because he really wants it. OMG, does she think we're
all thick? Kay? I suspect the answer to that is yes.

(15:41):
Twenty three minutes away from seven now interesting developments around
tax treatment of charities. Last year, the Finance Minister made
no secret of the fact that they were in her
sights and change was coming. Now it's not no change
coming in the budget next month. Former PwC partner an
independent tax ex But Jeff Nightingale is with.

Speaker 12 (15:59):
Us, Jeff, good morning Mite.

Speaker 2 (16:01):
Are there complexities here that you could have seen and
warned her about or is this come as a shock.

Speaker 12 (16:07):
No, I think the complexities were always there. I think
this is a sensible decision not to rush it because
I think the governments looked at nine hundred submissions that
they got, even though they only gave a very short
time for submissions, they got nine hundred apparently, and those
have pointed out a whole lot of problems coupled really
big problems at least that they need more time to consider.

Speaker 2 (16:28):
In considering them, can they do something that will allow
them to get access to charity money or is this
going to be ultimately too hard?

Speaker 12 (16:37):
My guess would be it's mainly ultimately too hard. We've
had several goes at this over the last twenty years.
I mean, the main problem I think they've identified is
there's not the tax revenue there.

Speaker 13 (16:46):
That they thought there was.

Speaker 12 (16:47):
And the issue is is that, you know, charities don't
do a lot of tax structuring and because they don't
have to because their tax exempt, and if you then
started to tax them, there would be a lot of
tax structuring beween their charitable enterprise and their business enterprise,
which means the tax revenue that you might think is
there will evaporate. So that's the main problem. The other

(17:08):
issue is really just the complexity of the definitions.

Speaker 2 (17:11):
What about all the headline stuff that we hear that
are they're not really a charity, they shouldn't be a charity,
Destiny's Church, sanitary and Mario authorities. Is it that simple
or not? Really?

Speaker 12 (17:22):
There is still an issue there that needs to be
addressed and I think they'll still be working on that.
And there's two issues there. One is where this religions
should generally get charitable relief, and that's a very competitive, complex,
values driven thing. The other issue is whether or not
businesses operated by charities get a competitive advantage because they
don't pay tax, and there are two schools of thought

(17:43):
on that, and there's more work to be done there.

Speaker 2 (17:45):
I think what about the Mario authorities and is that
too political?

Speaker 12 (17:49):
I think that was probably a bigger issue than they anticipated.
Many of the Maria authorities use charities in their group
structures to hold some of their settlement sets, and that's
quite a political can of worms to rip the top
off that.

Speaker 2 (18:04):
So what have we got there? Is it politics that's
defeated her, or complexity that could be fixed if she
wanted to really have a go. Or I had a
look anyway, and there's a handful of change and it's
not worth my time.

Speaker 12 (18:18):
I think it's a combination of all three.

Speaker 14 (18:20):
Mike.

Speaker 12 (18:21):
I think there's not enough tax revenue to justify the
political fight. And secondly, I think that the changes are
harder than they might have first anticipated. What Minister Finance
did say that there is still change coming, but it'll
becoming at a more considered pace. They'll do a lot
more work and it'll probably be a lot narrower focused change.

Speaker 2 (18:44):
Reputationally, Has she been damaged at all by this in
your view? I mean she was gun ho in descem
but she was going to get the money and it
was all on. Now it's on. Whoops. I didn't realize
it was going to be this hard.

Speaker 12 (18:54):
Yeah, look, I don't think she has I think this
is New Zealand's We have this world leading generic tax
policy process which is the way we do tax and
that involves various stages of consultation, and it involves real
consultation with the government putting out ideas and listening to
experts and the community and the affected parties. And I
think in this case, they put out a proposal that

(19:15):
was you know, it's a valid thing to think about.
They've listened to feedback and they're sewed it down, So
at least from my perspective, I don't I think this
is the way the system works.

Speaker 2 (19:23):
I was enjoying your company, JEF apreciated very much, Jeff
Nightingale form of PwC Partner Independent Tax ex But these
days nineteen two seven.

Speaker 1 (19:30):
The Mic Hosking Breakfast Full Show podcast on iHeartRadio Call
It by News Talks.

Speaker 15 (19:35):
At b.

Speaker 14 (19:37):
Now.

Speaker 2 (19:37):
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And it's not just the residents who enjoy them either,
because our Vida cafes are open to the public. So
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delicious cabinet food or ruf off the menu food as well.
So grabbing lunch with a friend ordering a muffin but
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(19:57):
the cafe is so close by. Of course, to cafe teams,
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(20:19):
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(20:40):
ask just to wrick you up. Details from Stats New Zealand.
This morning on Steak Sirloin thirty eight forty three akilo.
Is that a lot? Well, it's more than it was.
It's up from thirty one to fifty. This out see
you have thirty one to fifty akilo and then sudden
it's thirty eight forty three and you go, oh, it's
a bit more expensive. How much more expensive? You don't
realize it's twenty two percent more expensive. Largest annual inc

(21:00):
since twenty eleven. Why, but here's the thing. You can't.
You got to exit. Here's the problem. We're doing so
well at it. We produce it so well, the quality
is so high that the Americans can't get enough of it.
So we're exporting literally like we never have before. America
in terms of value take fifty two percent of everything
we produce beef wire. So if they're prepared to pay

(21:22):
an American dollars, we've got to pay the price. That's
just the way it works. In the red meat sector
employs ninety thousand people. So you went on one side,
you lose on the other.

Speaker 16 (21:29):
Six forty five International correspondence with Ends and Eye Insurance
Peace of mind for New Zealand business in France.

Speaker 2 (21:36):
Captin feel very good morning, Good morning mate, are your
lights on you got some power you in the first World.

Speaker 17 (21:42):
We best part of France was not affected by that
massive power outage which affected mainland Spain and much of Portugal.
Of course, parts of France were affected in the southwest,
down near the Spanish border. But honestly, mine queer, what
we're coming up from ten hour on from this massive
power outage and still no idea of what caused it.

(22:05):
A Spanish Prime Minister Pedrois Sanchez, just an hour or
so ago, gave very few answers and also gave no
concrete time frame on when the power grid will be
fully up and running again.

Speaker 1 (22:17):
And what we do know.

Speaker 17 (22:18):
Is this was just extraordinary scenes like traffic lights went out,
trains came to a halt. Bank machines no longer gave
out cash, You couldn't even use your credit card because
there was no electricity. Water wasn't being pumped. Because the
public it really did seem like, wow, we have never
had anything like this before. What we do know so

(22:38):
far is the governments of Spain and Portugal are still
asking residents to stay home, don't have any unnecessary travel
because traffic lights are out, trains aren't running, not all
planes that were able to take off and land, and
it could be up to a week, particularly in Portugal,
before everything was back to normal. But we have heard
in the last hour that power is starting to return

(23:01):
to parts of Spain, Seville and Madrid. But still the
big question what caused it?

Speaker 2 (23:07):
No idea atmospherics. I'm reading and I read it. I
may well be making this up, but I'm sure I
read last week there was a warning about the place
that atmospherically something was happening in certain parts of the
world and to watch out this was a possibility. Is
anyone saying that or do I sound literally insane?

Speaker 14 (23:25):
Oh?

Speaker 17 (23:25):
You sound insane a lot of the times, but not
this time. Mike, the Portuguese official did say that there
had been huge variations in temperature, particularly in central Spain
over the last two days, and that could be the cause. That,
of course, is climate change, not used to these huge shifts.
That having been said, Mate, now still looking into whether

(23:46):
or not this could have been a cyber attacked. So
still no answers that that variation and the temperature could
be what was at the.

Speaker 10 (23:55):
Root of this.

Speaker 2 (23:55):
Now, No, we mentioned this a couple of weeks ago
and we got a couple in court at the moment,
at least a couple of said, yes, it's me and
I wrote a book about it. The others are denying.
How's this Cardassian trial unfolding? How long is this going
to last?

Speaker 17 (24:07):
It's going to it started on Monday, Yes, and it's
the twelve were accused of this kidnapping and theft of
properly belonging to Kim Kardashian back in October twenty sixteen,
she was here for fashion Week. Now a really incredible scene.
It's supposed to go on until about the twenty third

(24:28):
of May. Kim Kardashian is scheduled to come to Paris
and give evidence herself on the thirteenth of May. Now,
there were originally twelve suspects. Only ten were in court today.
That is because one of those suspects has subsequently died,
the other is too ill to be on trial. What
we've got is five of them are charged with armed

(24:50):
robbery and kidnapping. Eight of them have denied involvement in
the theft. They say they were just standing guard watching.
But to be honest with my it sounds really just
like sort of a parody of a heist movie, doesn't it.
Because you've got five of them aged over sixty, who said, oh,
you know, I was poor, I'd done time, I didn't

(25:10):
have a job. I just needed one more job and
that would see me through. They're the ones who have said,
you know, yeah, that's how it worked out. I'm really sorry,
and they have said sorry to Ms. Kardashian. Another one
has said they didn't realize who she was. They just
knew there was this fancy ring. Let's not forget that
they stole jewelry up to the value of about sixteen

(25:31):
million New Zealand dollars. They knew she had this jewelry,
and all they knew about her was that she was
the wife of a rapper and that was why they
went there. But you know, the defense is saying, well,
you know, these were just guys who need a bit
of money. Lawyers for some of the others, particularly some
of the victims. The concierge at the hotel where they
were staying, had said, hey, listen, stop this Robin Hood

(25:54):
type stuff, saying that these are the nice guys. He said,
these people had handcuffs, had guns, they were threatening. They
were parading around as policemen said stop this. These are criminals.

Speaker 2 (26:07):
Just real quick, this three day thing with Putna. So
he's messing with Trump, isn'ty? I mean, how long has
this nonsense going for?

Speaker 17 (26:14):
Well, exactly. I mean, let's not forget he had that
thirty hour seas fire back at Easter, which Ukraine said
Russia had violated at numerous times. Essentially, yes, they're playing
Trump along. No one really believes that this Seas five
from the eighth to the tenth of May does cover
seventy two hours, and it covers that period of time,

(26:35):
of course, when Russia will be commemorating eighty years since
the end of the Second My War.

Speaker 2 (26:39):
All right, catch up with Katherine. I've been working with
Katherine in a very long time. I didn't know she
thought I was that insane. I thought I should probably
on the edge.

Speaker 10 (26:47):
Now, the longer people work with you, the more insania.

Speaker 2 (26:52):
Nine minutes away from seven.

Speaker 1 (26:53):
The Vike Hosking breakfast with the Range rover of the
Lahn News, Todd said, been focus.

Speaker 2 (26:58):
A little bit on the whole terriff. Stay sorry this morning.
I note the delegates had some interesting things to say yesterday.
More on that after seven o'clock. Richard quest whether us
after there's basically marking Trump's one hundred days. But Rich
quest with us after eight o'clock. But yesterday, so I'm
reading about these Chinese manufacturers the air pausing production, they're
closing their factories, and if they're not doing that, they're
turning to new markets. So I am increasingly wondering whether

(27:19):
there's going to be a whole realignment of global trade.
Rachel Reeves, the UK Chancellor, said the other day We've
got to start trading more with Europe. Europe's more important
than America and all that sort of stuff. Lost orders,
jobs are being lost in China. Companies are chartering several factories,
told half their employees to go home for the next
few weeks. This is a company called tidal Wave Solutions,
who monitor these sorts of things. Not large scale yet,

(27:42):
but in certain regions of China it's unfolding at a
rate of knots. There's around ten to twenty million workers
in China, ten to twenty million involved justin US bound
export businesses. Goldman Sachs have the official number of worker
in Chinese cities at four hundred and seventy three four
to five million. There are four hundred and seventy five

(28:03):
million workers. Incredible is't five minutes away from seven for.

Speaker 1 (28:07):
The ins and the outs. It's the fizz with business fiber,
take your business productivity to the next level.

Speaker 2 (28:14):
Speaking of which tailor to consumers, first quarter results out
of the US credit card lenders industry lower side, we've
got Synchrony, which provides store cards for retail brands. Are
spending on those cards as down four percent in Q one.
You compare that with American Express or JP Morgan Chase.
They offer the cards to the wealthier people with the
higher credit scores. Anyway, American Express, their customers are spending

(28:35):
seven percent more on dining, eleven percent more on first
class and business class flights compared with Q one of
last year. More and more Americans also falling behind on
the credit card debt. People only making the minimum payment
has risen to eleven point one percent. That's the highest
in twelve years. Even beats COVID for goodness sake, for
the lowest spenders getting harder t mouse shopping. So they're

(28:57):
adding import charges as what we're talking to Ryan about
before six o'clock this morning. So TIMU just whacking the
tariffs on one hundred and forty five percent. No worries. They
just whacked the price up one hundred and forty five percent.
You got to be an idiot to pay it. A
sum address was eighteen dollars forty seven, now forty four
sixty eight twenty six dollars in charges. That's one hundred
and forty two percent surcharge. A bathing soup for a

(29:18):
kid twelve forty four gone to thirty one twelve ourp
eighteen dollars sixty eight. That's a one hundred and fifty
percent fee. Handheld vacuum cleaner was sixteen ninety three now
forty dollars eleven, gone up twenty one dollars sixty eight.
That's a one hundred and thirty seven percent markup. You've
got to be blind or doping. Don't you to go
hold on only one hundred and fifty percent. I don't

(29:40):
mind paying that right. What's to come on this very
fine program of ours. You can self certify your build. Well,
you've got to be a certain you know, you've got
to be you know, you've got to be reputable, but
you can self certify. They think that that's going to
increase the number of houses in the country. So how
materials that Tory far now has taken all that brilliance
away from us just overnight. It was it was going
so well and then you woke up when she went, oh,

(30:01):
I want to go do something else. Genius. So we'll
look at that and some more glorification to work through
with Shane Jones.

Speaker 1 (30:08):
The Breakfast Show Kiwis Trust to Stay in the Know,
the Mic hosting Breakfast with Vita, Retirement Communities, Life Your
Way News togs Head.

Speaker 2 (30:18):
Be seven past seven. Some more common sense coming to
the building industry. Self certification as a way forward. Reputable
companies delivering large numbers of near identical houses will be
able to sign their own work off now. They think
that's about three thousand houses a year, not needing the
current red tape process. The New Zealand Certified Builders Boss
Malcolm Flemmings with us Malcolm Morning.

Speaker 18 (30:36):
Good morning, the only program, Mike.

Speaker 2 (30:38):
Are you on board? Broadly?

Speaker 18 (30:41):
Broadly we are. What the government is trying to do
is speed up content times for those builds they deemed
less risky, and I particularly focused on standarized homes of
simple design. We think this is a good start, but
they've missed an opportunity to introduce a quality marks for
builders so that homeowners will have confident that that any
individual builder has the credentials to do the job well.

Speaker 2 (31:04):
But if I go along to a well established corporate,
I would feel confident by looking at them, wouldn't I?

Speaker 18 (31:11):
Well, we'll established corporates, particularly at home group home builder market,
have good standardized systems and if they can produce good,
standardized simple homes, that's what the government's leading in the moment.
What we're sort of advocating is un certified builders and
had some really good, meaningful dialogue with government on this

(31:31):
is taking the next step of that because keywy's traditionally
like bespoke buildings, So if they can sort of get
the quality market established through the licensed building practitioner regime,
and we think this is entirely possible that a builder,
based on their core qualification, based on their experience, and
based on their track record with the councils, has the

(31:54):
ability to opt them to things like we're talking about
here with the self certification schemes.

Speaker 2 (32:00):
If you talked to the government about that, they open
to this. It seems common sense.

Speaker 18 (32:04):
We've had some really good discussion with them. They seem
to be quite open for it. We're hopeful that they
will be the next charge of this proposal.

Speaker 2 (32:13):
Good. What's this actually achieved? Is it cheaper? Are the
more homes does? What happens?

Speaker 18 (32:19):
What they're looking to achieve is speed up the time
of waiting around for builders on site waiting for a
building inspection. Now right at the moment where the sort
of low trough of the economic cycle and it's not
such a big issue, but if we go back three
years ago, it was a very big issue and it
will be an issue again. So waiting around for building

(32:41):
inspectors is costant time. So if that can be reduced
by a builder and plumbers and train layers, and I
think that's a really good proposal that's been put in here.
With plumbers and drain layers to be able to self certify,
that will speed things up because I don't have to
work for a builder. Seam good stuff.

Speaker 2 (33:02):
Malcolm, all right, I appreciate your time very much. Malcolm Flemming,
who's the New Zealand Cerivided Builders Boss. It's ten minutes
past seven pask Wellington mayoral races taking a turn of
the incumbent's gone tory finales palled the plug in thron
who support behind Andrew Little. The former Wellington mayor, Dame
Kerry printagrausters with us. Kerry, morning to you, Good morning
to you. Given all that's happened to the city in
the last few years, do you think this is going

(33:23):
to drive a bigger turnout, more interest in general?

Speaker 15 (33:28):
One would hope.

Speaker 17 (33:28):
So.

Speaker 15 (33:29):
I mean the bad news is three to one term
mayors is not good for Wellington. We need stability. We
need somebody with good governance experience, someone who understands the
importance of working with government. We need someone who can
pull a team together and lead our city with honesty
and integrity. Because when we see polls earlier this year

(33:50):
that so show forty eight percent have lost trust in
Wellington City and forty eight percent of elect confidence and
decision making. Has to be something done to turn our
city back to the way it was, get our mojo back, that's.

Speaker 18 (34:05):
What we want.

Speaker 2 (34:06):
Having said that, does this open now the field for
a classic left right split or not?

Speaker 11 (34:12):
I think it does.

Speaker 15 (34:14):
Andrew Little's key put his hand up. He's clearly been
a labor minister of the Crown. There are a number
of center center right candidates standing. We have STV here.
So I think what you will see is that with
the Greens bowing out in favor of Andrew Little, does.

Speaker 2 (34:33):
The party endorsement that we've seen so far, does that
help will hinder?

Speaker 15 (34:39):
You mean for Andrew Little Andory?

Speaker 2 (34:42):
I mean, you know the Greens and central government being
involved in local politics.

Speaker 15 (34:46):
Well, personally I don't believe in party politics at local
government level, but it is certainly crept and strongly, particularly
in Wellington over the last decade or so, and you
do need to work with se government. Andrew would have
that advantage. There are lots of rumors about why Tory

(35:07):
stepped aside. Did she not get the Green endorsement? Did
polling show she wasn't going to win? We will wait
and see. There won't be any endorsement I suspect for
any of their candidates on the center scent.

Speaker 2 (35:22):
To right, good insight. I appreciate it very much, Dame
Kerry Prendergaswa and we're Wellington miror, and of course we
mustn't forget this endless focus we seem to place on
me as as though they're presidents. They're just a single
vote in the council. You can vote for whoever you want.
They don't get the council they want. It's a problem.
Thirteen minutes past seven. Ask a good piece and newsroom
if you want to read it. I love Peter Dunn's
writing room for the right to capitalize on Wellington woes.

(35:44):
He's written that in the last couple of days that's
on the Merrill Race and he knows Wellington as well
as anybody else coming from that particular part of the world.
Of course, So Mike, Tory, Farnow and just Sindra done
both showing the resilience of a Wellington water pipe connection
with their ten yure challenge being unpopulous, just too much
to take. I'm so relieved, Mike that Farnow's dropped out.
I was going to vote for Little just to keep
her out. Now I can actually think about who to

(36:05):
vote for seats? Is that to vote for somebody to
stop something else. That reminds me of the twenty twenty
election when everyone voted for Lay because they allegedly didn't
want the Green's getting him. It's bizarre morning, Mike, Research emergency.
Can you confirm if she far now stands under the
Maori ward she is appointed and not voted no, We've
already confirmed that on the program before. So it's a

(36:26):
contested seat. She will be if she wins it elected,
and then she may only depending on what happens on
the vote for the Maori seats in general, be there
for three years, because I'm assuming if the vote goes
the way I think it will, they will abolish race
based seats all over the country where the vote for
race based seats is being held, and so they should. Mike,

(36:47):
it's a little bit rich to these so called charities
can effectively avoid paying tax and apparently it's not enough
money for the government to go after. And yet of
my company paying maybe fifty thousand dollars in tax doesn't
pay up, they'll hunt me down, fair point. But I
think what we're learning out of Nikola Willis is not
just about the money, as you heard from Jeff Nightingale
earlier on the program, it's about the politics of it.

Speaker 14 (37:06):
Ail.

Speaker 2 (37:07):
You're getting into the mari economy, you're getting into the
charity economy, and there's a lot of politics at play there.
And once you introduce new law, new rules, people spent
a lot of time and a lot of energy manipulating
their business around avoiding tax, so they probably worked out
it's more trouble than it's worth as opposed to just
having not as much money as they thought.

Speaker 1 (37:29):
Fourteen past the High Asking Breakfast Full Show podcast on
iHeartRadio powered by News Talks at b.

Speaker 2 (37:37):
Rich re Quest after Right Jane Jones on the verification
of the WA TACKERI ranger shortly seventeen past seven. What
a difference to government makes say under Labour and we
discussed this at length at the time. Basically literally nobody
got tossed out of a kayeing or or a house,
no matter how bad the behavior got. Under the current
government were up to two hundred and ninety nine tendencies
tenancies terminated. That's more than double the one hundred and
thirty four last year. So they are moving litigation lawyer

(37:59):
the Thorns with us on this adena. Good morning, Good
morning mate. Do you have a sense of two hundred
and ninety nine Does that solve the problem or barely
touches the size?

Speaker 19 (38:09):
It's an improvement, It's a significant improvement. I mean we've
gone from one to two hundred and ninety nine. Look,
I had a lot of people contacting me affected by
this for a couple of years, neighbors next door, across
the road, everything, And I did some rough calculations. I
thought the figure that needed to be evicted was about
one thousand to fifteen hundred, and that's based on the

(38:32):
number of scale and it's across New Zealand. I mean,
let's be clear. The media like to call this antisocial.
It's a good political word, antisocial behavior. I'm not really
talking about antisocial. I'm talking about people doing really egregious
violent stuff in housing that is threatening to their neighbors.
We're talking machetes in the backyard, people screaming all night.

(38:54):
I mean I've seen the videos. It's all e beep
sort of stuff. You know, my kids still to be there.
You don't want to be there. And I spoke to
a lovely old lady who said to me, I can't
have my grandchildren's other thing.

Speaker 12 (39:05):
We're talking to, you.

Speaker 19 (39:06):
Know, the worst of the worst.

Speaker 2 (39:07):
Yeah, exactly, as a landlord, a kaying or simply have
they simply been instructed to be better than they are?

Speaker 19 (39:16):
Well, I think Minister Bishop came out and Saydia was
going to improve the space, and they're game to him
because he's.

Speaker 15 (39:21):
Doing just that.

Speaker 19 (39:23):
So I think you're going in the right direction, but
there's a lot more to be done. I mean, the
conversations that I've had recently is not as many people
are contacting me, which is great news. People have said
to me that they're actually getting moved rather than their
beachmark's antisocial neighbor. There's a lot of that going on.
So it's been the moving the so called antisocial person.

(39:46):
They move the people around them. But it's sort of
still going in the right direction. In terms of the areas.
They seem to be still kind of up there. I mean,
I've been doing some sort of reading around that and
trying to work out. I mean, kaya Or is great
on rhetoric. They're great at putting out all this spin
and it's very hard to drill into what's actually going on.

Speaker 15 (40:06):
But I'd like to know, you know, are.

Speaker 19 (40:09):
The really genuinely calling up these areas and at what
rate per week? And are they cutch having interest or
is this just the government departments says, oh yeah, we'll
chase us up, but actually a dollar a week and
you'll be here in twenty six years.

Speaker 2 (40:23):
Very good point. Actually, we'll follow this up that there's
a research and emergency. We'll get that underway with Sammy,
our research assistant this morning and we'll produce some numbers
for you tomorrow. What the areas are are they getting
worsened by? How much? Adina Thorn, who's a litigation lawyer,
need to come back to these tariffs, rich request after rape,
but the tariffs and Trump's one hundred days and a
moment seven twenty.

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Speaker 1 (41:55):
Asking seven twenty four.

Speaker 2 (41:57):
So the question I ask about Trump at one hundred
days is if it wasn't for the tariffs, would things
be completely different? And I think you know the answers yes.
The pole numbers that make the most sense to me
are the ones that say the bulk of Americans i e.
Seven out of ten are not surprised. He's doing basically
what he said he would do, and at normal times
that would be a revelation if not a good thing.
He's exporting crocs, he's cutting waste, he is relentless in

(42:20):
his agenda. He's omnipresent, he's battling the courts. He's surrounded
by eclectic and sometimes baffoonished characters, all of which you
would be unfair to suggest isn't exactly what one happened
between twenty sixteen and twenty twenty and two. He promised
he would do the usual false reportage continues as if
the bideneerer didn't interrupt Trump one, small details like the
color of a suit over the weekend at the funeral,

(42:41):
the fact the war isn't over literally on day one.
You can choose your reaction to that sort of thing.
The media chooses to be meopic and at times childish
and pedantic. But what's the point. We know he's like
no other president. He makes stuff up, he exaggerates, he lies,
he weaves. Forget whether it's good or bad or dangerous.
It's who he is.

Speaker 14 (42:57):
We know this.

Speaker 2 (42:58):
Therefore, you might want to adjust your reportage. Things at
day one hundred would be normal. I think in Trump
world if it hadn't been for the teriffs, and in
the tariffs is the greatest of mistakes, And for the
life of me, I still can't figure it out. Match
tariffs on those who tariff you sure, China twenty percent,
I see you twenty percent. But the tariffs are what

(43:19):
is is undoing, universal tariffs on everything from nowhere. They
don't make any sense. They've tanked markets, they've killed growth,
They've created fear and economic carnage, and still they make
no sense. I'm sure deals are going to be done
with some people, but the damage will have well, it's
already been done. The ducking, the diving, the making it
up as you go along isn't deal making. It's insanity.

(43:41):
Ships are docked, goods aren't moving, Dollars are being flushed,
and jobs are being lost. The political capital is being
burned at a rate of knots. The poles will tell
the same story. His support is drained, but the big pole,
the midterms, might ultimately be as undoing. He barely has
the numbers now to conduct government, far less once America votes.
And if that goes badly and you're a lame duck president,

(44:03):
when does the golden age arrive? If you've blown it
up in your first three months? Asking I might yet
another failed politician referenced a little. Yet another failed politician
wants to be mayor? Is he failed or is he experienced?
Just because things didn't go well in a specific set
of circumstances i e. At the wrong time, at the
wrong place, he was a leader, wasn't polling particularly well?

(44:25):
Saw somebody else i e. A doerne who could do
a better job. Does that make him a failure or
does it make it insightful? Is he experienced? And does
that experience in a different venue at a different time,
in a different place turn out to be very tradable
and very valuable. Look at all the entrepreneurs, they say,
to be a great entrepreneur, you need to fail over
and over again. So when the entrepreneur goes bankrupt, is
he a failure? Sheer failure? And when they go and
invent something, build something brilliant, suddenly you see them as

(44:48):
a success story. But wait a minute, what happened to
the failure? So once a failure, always a failure, or
once a failure somebody is slightly more experienced now, Shane Jones,
the White Tackers won't bore you with a fine detail,
But the White tax for his massive mountains in the
west of Auckland, and they've got a whole bunch of
people wanting to run them, or look after them, or
guide them, or be guardians of them. Some of them

(45:08):
are Maori. Shane's going hold on here, that's the rarification
of New Zealand and were at New Zealand first? Aren't?
And to that He's next.

Speaker 1 (45:16):
Your source of freaking news, challenging opinion and honored facts.
The Mike Hosking breakfast with the range Rover vi La
designed to intrigue, can use Togstad beer.

Speaker 2 (45:27):
Won't your quest after? Righte on the one hundred days
and Trump's tariffs and the effect on us all and
it is on us all you know. I gave you
the examples of China and the factories closing, the people
getting sent home, and all the ships out of Korea
that aren't going. I gave you numbers the other day
of Long Beach in Los Angeles are the two biggest
ports is regarding the acceptance of Chinese goods into the
West Coast of America. The number of containers coming in

(45:47):
it was one hundred and twenty thousand a week is
now down to sixty six, so it's material. And then
yesterday delegates who make a very nice bottle of wine,
they've revised down their sales and they're operating profit guidance
for the junior Why because they don't think they're going
to sell as much wine and to America. So an
operating net profit after tax of forty seven million to
forty seven to fifty million. It was fifty five to

(46:10):
sixty So that's millions of business they don't think they're
going to do. It's the ten percent tariff now forecasting
their global case sales at three point one million cases,
down five percent, five percent on previous guidance and twelve
percent on the last year. That's just a tangible, real
world working of how tariff's work or don't work. But

(46:33):
more shortly twenty ten minutes away from a this we
can't get enough, Peter Garrett. We have a clash of

(46:54):
sorts between central and local governments. So we got New
Zealand Person Act. They're joining versus forces out of the
way tax rangers co governance debate. Now, the theory is
the rangers under a deed of acknowledgment are overseen by
a local council. The Crown and local MARI representation would
be a fifty to fifty split, and this is where
the upset comes in. In New Zealand First MP Shane
Jones with us on this good.

Speaker 11 (47:14):
Morning, Hey morning folks.

Speaker 2 (47:16):
As much as we might agree with you and indeed
act on this, is this even your domain? This is
a council issue, isn't it?

Speaker 14 (47:23):
No?

Speaker 11 (47:24):
An actual fact the Crown is involved because the Department
of Conservation has a stake in the future of this
twenty seven thousand hectares otherwise known as the White Target Rangers.
And look at less a loud voice publicizes these things.
You've got these secret operatives from the Labor Party, mister Hill,
Greg President, pushing this agenda and.

Speaker 18 (47:44):
We're not going to stand for it.

Speaker 2 (47:45):
When you say the agenda though it's been around since
two thousand and eight, this is the way Tackari Rangers
Heritage Area act. This is hardly new, it's hardly breaking news.

Speaker 11 (47:52):
Why now, Well, funnily enough or perversely, I was around
in two thousand and eight and there's no way at
Helen Clark at one thousand million years with ever have
committed an April two thousand and eight to this piece
of legislation if it was going to turn into a
platform for co governance. Now, there's nothing wrong with the

(48:13):
Muckey people who come from Bethel's Beach and they lost
their land many years ago and they're trying to re
establish Amraa out there. But these are the same people
that labour did over at Humartal Winston and I stuck
up for them, and sadly they're being used as ideological
meat in the sandwich. We are not going to tolerate

(48:33):
any sliver of co governance over twenty seven thousand hectares
of West Auckland Heritage Area, a third of which is
privately owned.

Speaker 2 (48:41):
What literally can you do about it?

Speaker 11 (48:44):
Well, in the event that the council does desire to
set up a committee, committees are set up under the
Local Government Act and the actual look, the actual Act
going back to two thousand and eight, has got a
lot of harmless provisions. But this is what happens. They
are cultivated and they are accelerated and in what you
think is harmless for many years ago, turns into a

(49:07):
bugger's moddel Look no further than the future of the
autoword to Park for that answer.

Speaker 2 (49:12):
So you will legislate to prevent this happening, is what
you're saying. So if you are going to do that,
do you have the numbers because it's you an act
you have national.

Speaker 11 (49:20):
Well, let's get the facts first. If DOC are involved,
there's no way that DOC has a mandate to facilitate
co governance. DOC is a part of Central government. All
of the documents that are being spread around foolishly by
the Super City Council, which are trying in a very
sneaky way to introduce this co governance outcome cannot do
it without Dock's outcome without Dock and DOC is part

(49:41):
of central government, and central government will be obedient to
the coalition agreement.

Speaker 2 (49:46):
Edward Ashby, who's representing the local Lyewy, he says, you're optimischief.
This is misinformation. You're scaremongering and you need to learn
to read.

Speaker 11 (49:55):
Look, I don't want to get into a slinging match
with young Edward. You needs to focus on building on
myria speech.

Speaker 2 (50:00):
All right, appreciate it. Time. Shane Jones, New Zealand, first MP,
ninety minutes away from eight asking fairly significant. So if
you're not aware, Nichola Willis is giving a speech to
a Chamber of Commerce and Lower Heart this morning. There
was going to be there probably will be some detail
on the upcoming budget what is revelationary so far is
what's called the operating allowance. Now, the operating allowance in

(50:22):
the last budget was two point four billion dollars. And
the thing about the operating allowance and the last budget
at two point four billion dollars was that's hardly any money.
And everyone went, jeez, I have no idea how she's
going to make ends meet at two point four billion.
The operating allowance is separate from all the other stuff.
You know, you fund your education, your fund your health,
you do all of that sort of thing, and then

(50:43):
you sort of gerrymanned the process by spreading it out
over several years and making yourself sound better. That's all
the politics of the budget. But the operating allowance is
what you've got there in your pocket to go out
into the world and do stuff with. And she set
it at two point four. It was cut dramatically to
two point four and a lot of people then wondered

(51:03):
whether that was possible. Then came you might remember Farmak
and the National Party's drug cancer drug promise and what
they were going to do about that because they didn't
deliver on that, but they got bullied into delivering and
they had to find six hundred million dollars that came
out of the two point four, So two point four
became one point and they'll go, well, hold on two
point four. You suddenly spent out half a billion dollars
just like that. So it focused our minds into how

(51:25):
little they actually have. And that's because our economy is bugged,
and it's because the Labor Party ruined the economy and
we need to slowly but surely rebuild it. This morning,
she has announced the operating allowance is going from two
point four to one point three in a government sense,
that is literally fifty cent lolly mixed your money. She

(51:48):
has no money. One point three billion dollars. I mean,
God bless her for a discipline, and she's to be
congratulated for, you know, not throwing it caution to the
wind and just borrowing like everybody else. But one point three,
if she can pull that off, One is brave. Two
is bordering on a miracle.

Speaker 1 (52:05):
Seventeen to two The Vike Hosking Breakfast Full Show podcast
on iHeartRadio, how ad By News Talks, it'd be yeah.

Speaker 2 (52:14):
Apart from that, just having grows through the speech, it's
eight pages long and small typing. But that's the headline
of the day. Two point four to one point three.
The fiscal forecast not going to be finalized until later
this week. Smaller operating allowance means we'll continue to forecast
to surplus in twenty twenty nine. You notice how far
that's gone out since she's been in power. He only
been in power since twenty twenty three, and so it
was going to be twenty five. It was twenty six,

(52:36):
twenty seven, twenty eight hour out to twenty nine. And
that's just an annual surplus. That's not paying down debt
or anything. That's just a year in which we don't
spend more than we make. So twenty twenty nine, and
even that's fingers crossed. Our budget will still deliver increased
investment and things like you know, blah blah blah, health, education,
et cetera. So that's going to be money from other areas.

(52:58):
It will be savings read tributed elsewhere. Instability may not
be a passing tree in New Zealand. Can't expect to
keep borrowing as much as we are now. Good honor
for saying it. It's not a time to kick the
can down the road. Good honor, for saying it. It's
against a difficult backdrop. The next decade can be our decades,
she claims, and she goes on about our natural resources
and beautiful you know, all the other stuff that politicians

(53:18):
go on.

Speaker 10 (53:19):
Just you know, hang tight till yeah twenty thirty.

Speaker 18 (53:24):
Jeez.

Speaker 2 (53:25):
And this doesn't help James Meagher, who I don't know,
but we all got excited. Remember when James meagah stood
up in the Parliament and he gave his maiden speech
and we.

Speaker 1 (53:33):
Went, oh, so wonderful, isn't he?

Speaker 2 (53:37):
And then that was the last year I heard of him.
He's got made the minister for the South Island. He's
Associate Transport Minister for reasons best known to himself. He's
starting waxing lyrical about the government supporting in New Zealand
because you can't fly from Palmerston North to Wanganui for
five dollars and so he's talking about provincial regional New Zealand.
Nothing wrong with that. Yes, the prices are too high.

(53:58):
Yes it would be nice if we had eighteen air lines,
Yes it would be nice. I Emirates went from you know,
Omoru to Ashburton three times a day in first class.
None of it's real. We're a tiny little country at
the bottom of the world with five million people and
we have room for about one and a half airlines.
That's been proven over and over and over and over
and over again. And it's not like Air New Zealand
before you text me and go a year Zaleand are

(54:20):
bastards and they're ripping me off before you say that.
They're hardly making money. They've got no engines, they've got
no planes, they've got a world of pain at the moment,
and it's difficult. But a government minister coming in and going, hmmm,
I wonder if the government wouldn't be interested in supporting
Air New Zealand to make regional flying go you go,
go now, James to Nicholas's office when she gets back

(54:42):
from his speech, float the idea and see how many
books are thrown at your head.

Speaker 20 (54:46):
So that is that the kind of thing that they'd
spend some of this operating allow No, Glen, it's not
see I'm trying to get to the bottom of this.

Speaker 10 (54:55):
I've been googling it up.

Speaker 2 (54:56):
Operating allowance.

Speaker 10 (54:57):
Yeah, yeah, oh you could.

Speaker 20 (54:59):
Apparently it's really to the operating balance before gains and losses,
which is otherwise known as obi gale abigal.

Speaker 2 (55:05):
Yes, and so it's the money you've set aside to
spend on stuff. You'll have a lunch money. Your wife
will have given you some lunch money. That's your operating allowance.
Well there you go. So you don't have much of
an operating allowance. So that's that's I think she's got that.

Speaker 10 (55:20):
How have access to.

Speaker 2 (55:21):
It's exactly the same thing Turn away from eight The.

Speaker 1 (55:25):
Mike Hosking Breakfast with Bailey's Real Estate News talks dead.

Speaker 2 (55:28):
Being away from it. So yet another product that New
Zealand ink is doing well and after what seems like
a summer from heaven. Basically, the person in sector has
seen a twenty percent rise in exports over the past year.
Demand has never been higher from Australia, Southeast Asia, even Canada.
A person Industry Council manager Ian Turks with us on
this Ian Morning.

Speaker 13 (55:48):
Good morning mate.

Speaker 2 (55:49):
How big is the industry?

Speaker 13 (55:51):
Well, it's a small industry. We've got about twenty eight
growers and we export about ten million dollars worth. With
a fruit sittament. Industry councils focused on export. We really
deal with our export grows, but there's a few more
grass who've been supplying domestic only, so it's very small.

Speaker 2 (56:11):
How much acreage and is it growing?

Speaker 13 (56:14):
I think about just over one hundred hectiars across all
the grass. And yes, we know there's some new there's
are some new plannings in already, and you know it's
just Febri had another orchard that's looking and putting in
some decent heatrops. So yes, there's interesting and ability for
the industry to grow.

Speaker 2 (56:35):
And it seems like everyone grew something brilliant this past summer.
It's been a fantastic time and you guys are no different.

Speaker 13 (56:41):
Well, yeah, we've had some rough years to be honest,
over the last five years. And you think about COVID.
You know the lockdown came on just as the season
was starting in twenty twenty. We've had Gabriel and rain
last years. Most of our person's come out of Gisbon's
and North up North which has really really been hit

(57:02):
by the weather events. So yes, we've got a good
season this year. Our growers are happy, they're looking forward
to it and the twenty percent increase that you're talking
about sort of brings us back up to good average levels.
So yeah, it sounds good, but it's back to way
we should be.

Speaker 2 (57:18):
What do people do with them?

Speaker 13 (57:22):
Well, I eat them fresh. I just absolutely love them fresh.
Though we don't get a chance in our household to
do much more with them. But there's a whole that
there's tons that you can do with them. And I
really recommend if anyone's looking for ideas, hop on the
five plus a day to look at their recipes. They've

(57:43):
got some fantastic ideas. There lots of lots of salads,
you know, I think putting a person into a salad
is really a license to add whatever you like. In
the end, there's these recipes there with beetroot and pomegranates
and you know, all sorts of exciting recently. It's just
what you need at this time of year to your meals.

Speaker 2 (58:05):
Well, sir, I'm glad you're doing well too. Ian Turk,
who's the person in an industry council manager, So I
don't know what else we haven't done. We've done cherries,
done Keywi fruit, apples, pears, person's wine, My tree did
well this year. I've had actually, funny enough, I was
sympathizing with thee and when he said it's been a

(58:26):
bit of a rough couple of seasons, I agree. I've
got a person in tree. I didn't realize it was
a person tree when we bought the property, I thought,
what the want? Earth? Are those turned out to be
a nash?

Speaker 10 (58:34):
I can you even quite remember what person's a look?

Speaker 2 (58:37):
They look like a light, very pale yellow apple roughly
sort of.

Speaker 20 (58:43):
And are they like a pomegranate where they've got lots
of seeds inside?

Speaker 2 (58:47):
Completely different to a pomegranate. You could mistake one, and
don't text me and say I'm an idiot and wrong.
You could mistake one if you were looking a bit
piste wandering down through the paddock. I mean, I don't
speak from experience, and you might mistake them for a nah.
So it could be an awshie, could be a person.
You know what I'm saying this, there's slightly different shape,
but the eating fresh thing, I thought you only use
them sort of for jam.

Speaker 20 (59:10):
It's interesting what he's saying about the salads, because they're
getting into that dangerous area people some thinly.

Speaker 10 (59:15):
People don't like to mix fruit with their main meal,
do they?

Speaker 14 (59:20):
I do?

Speaker 20 (59:20):
Yeah, I do too, But there's certainly people in my
house who are against it. Rides slicing, slicing green grapes
and a salad very nice.

Speaker 2 (59:30):
What's wrong with that?

Speaker 15 (59:31):
Well?

Speaker 2 (59:32):
Really, yeah, there was.

Speaker 10 (59:33):
I was harshly criticized.

Speaker 2 (59:35):
Jeez, it's a hard roader hoes, Nick Glene. All you
can do is your best mape. I get it. Richard
quest on the tariffs and Trump's one hundred days after
the News, which is next to your news talk.

Speaker 1 (59:47):
Set, the news and the news makers the mic asking
breakfast with Bailey's real estate, your local experts across residential,
commercial and rural news talks.

Speaker 19 (01:00:00):
He'd be.

Speaker 3 (01:00:03):
Time in a.

Speaker 2 (01:00:08):
Seven past eight. If there is one talking point out
of the trump first one hundred days, it is the tariffs.
You can argue broadly in other areas he's done. I
guess whether they said earlier on the program what he
said he would do, or at least he hasn't intend
to do so. But in tariffs, though, it was more
than anyone ever really dreamed. Wasn't a ten percent for
everyone to full on war with China and as seeming
to make it up as you go along set of

(01:00:29):
deals that have yet to eventuate meantime, are the world
as slowing. Ships are anchored, the jobs are being lost,
the markets are tanked, and we're all waiting for them.
I don't know someone to blink. I guess CNN's business guru,
Richard Quest is back with us. A very good morning.

Speaker 14 (01:00:42):
Good morning, Jamke. How are you?

Speaker 2 (01:00:43):
I'm very well. Indeed, you've been around a while. Have
you seen anything like these one hundred days as specifically
regards tariffs?

Speaker 14 (01:00:52):
You know something, Mike, I could ask you the same question.
We've both been around long enough to know that what
we are seeing at the moment is unextraordinary, not only
for the sheer brazenness of what's been done, but the
way in which it goes against everything of the orthodoxy

(01:01:14):
of economics that you and I have always been taught
to believe in. That tariffs are when targeted and with
a specific purpose, it can be of a benefit if
you like. But this wide spread general tariffing across the
globe in some effort to reshape the global trading structures. Now,

(01:01:37):
we've never seen anything like this before. But it's something
Donald Trump has always wanted since he was a young man.
He's always believed that the terms of trade for America
are unfair, and that he singlehandedly wanted to use tariffs
to change them.

Speaker 2 (01:01:51):
Can we say that to a point? He has a point,
So you matched tariffs. You tariff me at twenty percent,
I'll see you twenty percent. But this whole on shoring
ten percent for everybody one hundred and forty five percent
for China makes no sense.

Speaker 14 (01:02:07):
I think clearly several factors are at play. The first,
the traditional view of tit for tat the smooth horly
nineteen twenties tariffs will is a race to the economic
bottom that is certainly turning out to be true. You
tariff me, I'll tariff you bish bash bosh, and we

(01:02:28):
know where it will end up. He's always wanted to
have a to use tariffs. I don't think he ever
ever really wanted to or intended to go up to
one hundred and forty five percent, and even his recent
statement suggesting that's unsustainable, that it's clearly not the long
term goal. What I think is absolutely in his aim

(01:02:52):
is this ten percent general new tariff across the world.
And whilst ten percent sounds on the low side, you
have to remember a that is counter to everything we've
previously heard towards free trade, and b ten percent is
three times more than the two and a half percent

(01:03:12):
average tariff the US had. So this is part of
a deeply held philosophy that the US President has always
held on to, and now it's getting a chance to
put his economic experiment into practice.

Speaker 2 (01:03:27):
You speak to us from a spring like London this morning,
where Rachel Reeves and Kyostamer will tell you a deal
is to be done. Is that true or not?

Speaker 14 (01:03:37):
Well, yes, yes, there is a deal to be done.
Equip depends on the price upon which it is done,
and it depends on whether or not the British government
wishes to shaft the European Union on the way. Two
things to bear in mind. Donald Trump has always believed
and continues to say, that the EU is some con

(01:04:00):
some schemes, some scam designed originally in the nineteen fifties
to harm the United States. If that's your view, then
yes he will want to do a deal with the
United Kingdom. But secure Starmer is also trying to use

(01:04:21):
this current tariff battle to use the NATO issues to
remind EU partners of how valuable the United Kingdom is
in the wider sense and there's a sort of general
acceptance that yep, the deal for Europe and the deal

(01:04:42):
for the UK. Now is the time to potentially do
the deal that should always have been done back in
twenty seventeen, twenty eighteen when Brexit came along.

Speaker 2 (01:04:53):
All right, listen, hold on, might will be. We'll come
back to you in the moment. Richard quest, out of
seeing it? More on one hundred days of trumpet to
mine the twelve past.

Speaker 1 (01:04:59):
Day the mic Asking Breakfast Full Show podcast on iHeart
Radio powered by News Talks.

Speaker 2 (01:05:05):
It be news Talks. They've been caught a pasted out.
Richard quest, where's one hundred days of Trump and the
tariffs that still continuing to play out? Of course, now listen, Richard,
More broadly, I mean, do you what are you reckon
about a realignment of global trade? I mean for places
like New Zealand Australia, focus more on the EU, more
on the UK, more on China as they you know,
do as opposed to the US, or do you reckon

(01:05:25):
this thing gets sorted out in some way and we
all move on.

Speaker 14 (01:05:29):
I don't know. It's the law is the really short answer,
because I think in the immediate term it gets sort
of sorted out and we live to adapt to these
new tariff regimes in the longer run. And that's I
think is what you're really asking in the longer run, Mike, Yeah,

(01:05:52):
I think there are some fundamental shifts. Why because the
United States, and the view of many and so valid's
view in some cases, is no longer a reliable ally.
If the United States can do economic harm to key
strategic and important allies like Australia, the UK, New Zealand,

(01:06:15):
the Orcus, the Orcus, the Five Eyes, if the US
can turn its back on its both historic and current
friends and allies, then people will say, yeah, you know,
we do need to have a Plan B, Plan C,
Plan D, and that means not being as reliant as

(01:06:37):
we have been on the United States. And who can
blame anyone If you are sitting in the behive, if
you are sitting in Canberra, if you are sitting in
Number ten or in Brussels, you are going to say,
we were promised that Donald Trump couldn't come back. We
were promised that it would never happen again. America was back. Well,

(01:06:59):
how did that go? I think I think absolutely things
are going to change on a longer term basis.

Speaker 2 (01:07:05):
But let me count that with us. What if you
just hold you know, is for three and a half years,
he's gone in America resumes to some form of normality.
Is that possible or not.

Speaker 14 (01:07:15):
It's possible, It's probable at one level. But Mike, look
at the current situation week as you and I are
speaking right now. These are the economic headwinds that the
global economy is barreling through. The twenty percent stealing and aluminium,

(01:07:36):
the twenty five percent auto automobiles, foreign autobiles and auto paths,
the ten percent general tariff now around the world, the
perspective of twenty percent or more on semiconductors, one hundred
and forty five percent on China. These are not with
exception of semis. These are happening now. This is the

(01:07:59):
economy right as we are speaking. So you say, you
know what, does everything go back to normal right now?
The economy is battling these headwinds. We are heading towards
recessions in many countries that state Canada and Mexico. Traditional
alliances have been ripped up, torn up and thrown in

(01:08:22):
the toilets with Canada with NATO on the you know,
in the way it's been treated with Denmark over Greenland,
people won't forget. And the reason they won't forget is
because they are damn certain they don't want to be
on the wrong side of history in the future.

Speaker 2 (01:08:39):
If you're a central bank governor, how do you manage this?

Speaker 14 (01:08:42):
Very difficult because the inflationary battle that you thought you
were winning has now become much more difficult. Yes, tariffs
could be a one hit wonder, prices go up, but
if they create an inflationary spiral because prices go up,
there for workers demand more, therefore cost of production, etc. Etc.
And you start to see a slow down in the economies.

(01:09:05):
Can central bankers afford the rates to keep economies growing
whilst they are battling against inflation? The FED chair Jerome
Powell made it very He basically said, this is a
very challenging time. Any central bank governor is going to
have to do the dance with the inflationary devil or

(01:09:30):
risk recession. Unless Here's where I think we are right now,
with the tariff headwinds pushing against the economy, we are
looking at recessions in major economies, not deep, not long,
but certainly and by the way, let's not hang our
nicor elastic on whether or not it's a technical recession

(01:09:52):
of two quarters of negative GDP. We are looking at
slow downs in economic growth. That's going to feel pretty
awful people as the year moves on.

Speaker 2 (01:10:01):
Always good to have you on the program. I appreciate
it very much. Richard Quest Quest means business out of CNN.
He's in London for us this morning. It's coming up
A twenty.

Speaker 1 (01:10:10):
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The Philadelphia Eagles at the White House as we speak.
Super Bowl champions is welcome the morning, Mike. It will
be amazing. I'll be amazed if she can deliver. Nikola Willis,
if she can deliver one point three billion and a

(01:11:18):
surplus by twenty twenty nine, you know what, I tend
to agree, as much as I wish her well, these
are very tight, difficult days. My personin's my slightly squashed
version of an orange, which is true. I think a
number of you pointed out to me I was probably
thinking of a quince, and I am I'm exactly what
I'm thinking of. I'm not thinking of a person at all.

Speaker 10 (01:11:36):
Do you even have a personmon?

Speaker 2 (01:11:38):
Try No, I do not. As it turns out, what
I thought I had it was fain new and the
funny thing about it was the person is what happened
was in the early hours of the morning. I came
to work as I usually do, and then I saw
the interview about the person's and I thought, fantastic, glad
we're doing personmins because I've got a personmetree. It was
at that critical juncture of the morning that I made
the mistake, because I don't have a person tree, have

(01:11:58):
never had a person tree, but I do have a
quince tree. I have been fascinated by having a quinch tree.
The people who planted our place, or the bloke who
planted our place, had a We've got a sort of
what he calls an orchard, and the idea was that
you planted trees from days gone by, so you could
wander through the orchard and transport yourself back to your grandparents'
day the sort of fruit and vegetables that your grandparents

(01:12:19):
would grow. So, for example, we've got a number of
apple trees, and the apple trees aren't really commercial apples.
They're sort of your old fashioned apples that, to be frank,
you probably cook with them. But apart from that, I
mean the odd one, the really good one tastes okay,
but they're really cooking apples. Smith Breain, No, no, that's
what I'm saying. They're not commercial. But no, nothing you've

(01:12:40):
ever seen before apples before there were apples.

Speaker 10 (01:12:43):
So right back to Cox's orangines.

Speaker 2 (01:12:45):
No, no before costume. No, not that, there's nothing but
a name, not even a red Delicious, not even a
Red Delicious. So anyway, you got those sort of apples.

Speaker 18 (01:12:52):
We do have some.

Speaker 2 (01:12:53):
We do have some do Comish pears, do com do
Comish pears, which I must say are very very good.
But then this quinn tree. We've got a couple of
fig trees, and I thoroughly enjoyed watching the figs grow.
I was told the figs. You can't grow figs for
love nor money. We grow figs like there's no Tomorrow's.

Speaker 10 (01:13:07):
Indeed they are, because.

Speaker 2 (01:13:09):
They're definitely fixed there. But I but I didn't know.
It's a quince tree. So the quince looks like a pear,
which looks like a nashie. I have a Nashie and
I have a quince. I don't have a person. I
did want pomegranate.

Speaker 10 (01:13:25):
Oh, we all want pomegranate.

Speaker 2 (01:13:27):
We all want pomegranate. But I don't think I can
grow pomegranate. So you're right, it's the quince tree I'm
thinking of. And my question to the person and guy
is what do people do with them? Was a stupid
question because of course there's lots of things to do
with a person there, there's just not many things to
do with the quince. So I was expected jem exactly, jelly, jelly,

(01:13:47):
quin exactly quince. And then the next question is you say,
who makes quince jelly? And the answer is nobody.

Speaker 20 (01:13:53):
I mean, that's that's so anti fashion, isn't it, Because
I mean, that's just adding sugar to something, isn't it.

Speaker 2 (01:13:58):
That's an old food.

Speaker 10 (01:14:00):
That's got a jar of sugar here exactly.

Speaker 2 (01:14:02):
And you're gonna, as we told you earlier on in
the prem you're gonna end up dying sooner or ultra
process food just by you he means me leave it alone, exactly.
So my apologies for that. We talked to a degree
at cross purposes about completely different fruit. But we do
know that the person had a good season. We do
know that you can do more with person than just

(01:14:22):
make jam. And we do now know that I've never
had a person and probably will never have a person,
but I do have a quince that should we do
an interview on the Quints. I am fully prepared and
set to go in. What we'll bounce?

Speaker 10 (01:14:35):
I don't know what to believe.

Speaker 2 (01:14:37):
An award winning interview Rob Little, what's he doing? Oh
he's the UK correspondent. That's right, we'll do him after
the news.

Speaker 16 (01:14:44):
With you next.

Speaker 1 (01:14:46):
The only report you need to start your day the
my casting Breakfast with a Vita, Retirement, Communities, Life your
Way News, togs Head be.

Speaker 2 (01:14:58):
Quints makes terrific de Why ask here? And why's you hear?
And Win's good? People infuse vodka with quince. You do
that at home, absolutely delicious on the rocks. T watch
some vodka the other day, two or three different bottles
of it.

Speaker 20 (01:15:17):
Now the Philadelai you can now know you not tell
the difference between Quins and exactly.

Speaker 2 (01:15:24):
The Philadelphia Eagles super Bowl champions are at the White
House for their reception. Now, I thought Trump made a
very good point.

Speaker 1 (01:15:33):
The Eagle scored a touchdown on their signature.

Speaker 2 (01:15:35):
Play, the push Push You know that is or so
I hope they keep that play. Coach, I don't know,
but you know.

Speaker 1 (01:15:45):
They're they're talking about getting rid of that play. I
unders said they should keep.

Speaker 2 (01:15:50):
But what do you think, seq one.

Speaker 10 (01:15:51):
I like but you have guys like this pushing you
around a little bit.

Speaker 14 (01:15:55):
I like it.

Speaker 1 (01:15:55):
It's sort of exciting and different. I would like to
see something done.

Speaker 18 (01:15:59):
I'd like to go back to the regular kickoff.

Speaker 14 (01:16:01):
However, we don't like that kickoff where nobody's moving the
balls in the air.

Speaker 1 (01:16:05):
Nobody's moving. But I want to ask the coacher and
lane a ready of the people about that.

Speaker 11 (01:16:10):
But as a fan, I don't know.

Speaker 2 (01:16:13):
I don't want to be too technical about this. But
one his point about the tush push is they had
a meeting of the owners the other day as to
whether to get rid of it or not, and the
owners kicked it down the field. They didn't want to
deal with it, so that stays the kickoff I think
stays as well. Saquon Barkley doesn't use the tush push
because he's in a completely different position. It would be
Jalen Hurts, the quarterback who would use the tush push.

(01:16:35):
So he got caught out on that. But he does
make a good point about the kickoff. Twenty two minutes
away from.

Speaker 16 (01:16:39):
Nine International correspondence with ins and Eye Insurance Peace of
Mind for New Zealand business woo.

Speaker 2 (01:16:46):
But we go on, little morning mate, good boy, and
chein you make now the labor government traditionally when the
unions come calling, cod no problem. Let's have a sit
down at a table over a cup of coffee and
strike a deal. When Starmer and Kog we got no money,
how much trouble's brewing?

Speaker 9 (01:16:59):
This a lot, a lot. If you remember when labor
came into offices government back in July last year, the
first thing they did was bung this wacko payment to
the doctors and the train drivers which was way way
over inflation and came very close to what they were

(01:17:20):
asking for, you know, in double digit percentage rises. So
that kind of setup precedent. It also ate up a
load of money which Rachel reeves the transfer could have
used elsewhere. And now we're in a position where the
government has, without question, in the last three months four months,
even gained a grasp of reality, seen that we're skinned,

(01:17:44):
seeing that there are other things such as defense which
we need to spend on, which we haven't decided to
spend upon, and that therefore pay settlements in the public
section we're going to have to be limited. Now we
have the teachers and the nurses. Both of them are
asking for the place settlements in excess of three point
five four percent. The government is pegged to two point

(01:18:08):
eight percent. This is a real, real problem and it
will become even more of a problem when the government says, well, okay,
you can have your pay rises, but the costs have
to be met from within education budgets for example, or
within NHS budgets for example. So that will be a
real problem through the summer for both the Chancellor and

(01:18:30):
the Prime Minister.

Speaker 2 (01:18:31):
They still running the cost of living crisis line that
most unions around the world seem to be running at
the moment, even though the cost of living broadly speaking
is under control inflation release speaking.

Speaker 9 (01:18:41):
Yeah they are. But what is at the back of
their minds is the fact that the trend driver's got
twelve you know, the doctors, And that's set a terrible precedent.
That was at the time when labor was chaotic hundred days,

(01:19:01):
denied winter fuel payments to the pensioners and instead gave
it to their client groups. You voted for them as
the election, and that's set a precedent. Yes, I mean, actually,
you know three and a half to four point two
percent which the teachers and nurses are asking for isn't
wildly over the inflation rate. It is over the inflation rate.

(01:19:23):
But effectively the government is being you know, hoisted by
its own petard.

Speaker 2 (01:19:28):
Here, Yeah, whose signers? Who are I mean? Politically does
this play If the government hold their line and so
we don't have the money, that's just life. Is that
play well politically for them with the wider public.

Speaker 9 (01:19:38):
It pays well for them in Parliament, It's very hard
to tell. I don't think there is any feed that
one could imagine that one wouldn't imagine the British public
would give to nurses erroneously in my opinion. So the
nurses always have some support. The teachers, I think, have

(01:20:00):
none whatsoever.

Speaker 2 (01:20:02):
How do we explain the booming business of quangos given
all that's going on back cutting back?

Speaker 9 (01:20:08):
It is a familiar trope that every single Prime Minister
who comes into office says we will have a bonfire
of the quangos, or words to that effect, and within
six months it's been discovered that quangos have expanded under
every bit, that there are more people than ever earning
loads of money and who are kind of quazy and unaccountable.

(01:20:32):
This has happened with labor since it's got in. There
are more quangos, not fewer. Even though the government did
do the right thing in abolishing the worst of them
all NHS England, which it did to great credit, there
are now three hundred bosses of quangos, earning more than
the Prime Minister. It doesn't look as if they're going

(01:20:53):
to stop anytime soon. They're generated like Lilac's out of
the dead Earth. As Tsliot might have put it.

Speaker 2 (01:21:01):
I love it how they say rod. The word is
twenty seven, possibly twenty eight degrees by the end of
the week.

Speaker 9 (01:21:09):
Yeah, I'm not going out, mate. You know we can't
cope with that here. It's tell you there is a problem.
You're ginning to be stored up. I live in a
very very rainy part of the UK, and there's been
no rain for a very very very long time. I
think we're going to be in drought territory by the
time summer comes along. But in the meantime, yeah, it's

(01:21:32):
crack open a few bottles of wine, sit in the
garden and try to pretend everything else doesn't exist. Mate.

Speaker 2 (01:21:40):
That sounds good to make go well. We'll see you Thursday.
Speaking of which, by the way, so far this year
the number of wildfires. You don't think of UK and wildfires,
do you? When I say UK and wildfires. They don't
naturally go together anyway. The amount of land that's been
burned in the wildfire in the UK already this year
higher than the title for any year in more than
a decade. Two hundred and ninety two square kilometers has

(01:22:03):
been burnt in Britain so far, more than the previous
high twenty eight thousy one hundred hectares. And it's the
weather rods just talked about, very common in the UK
and early spring. Apparently eighty fires so far have been detected.
And just on related British matters before we move on,
theft is up. Personal theft is up twenty two percent
so far this year. It's from the Office of National Statistics.

(01:22:25):
They recorded one hundred police one hundred and fifty two
four hundred and sixteen thefts from personal offences, higher since
the current data methods began in two thousand and three,
so that's not good. Shoplifting on the rise, surpassing half
a million recorded offenses. Number of homicides lowest in a decade.
Overall crime below pre pandemic levels down more than seventy

(01:22:46):
five percent since the mid nineteen ninetyes, so you can
imagine how bad it was. So that's good. But the
personal stuff are on the up. Sixteen two the.

Speaker 1 (01:22:57):
Like asking Breakfast Fall Show podcast on iHeartRadio powered by
News Talk, said, be.

Speaker 2 (01:23:03):
Jely, what's booming at the moment? Military spending numbers yesterday
published that worldwide expenditures up nine and a half percent.
Two point seven trillion is what the world spent last
year on military guns, bombs, bullets, drones. Europe and the
Middle East big increases, rushes up thirty eight percent, as
rails up sixty five both for fairly obvious reasons. The

(01:23:26):
US largest spender has always been probably always will be.
They spend just under a trillion dollars a year. Are
trillion dollars a year on military spending. It's thirty seven
percent of the whole world. Germany's up twenty eight percent.
The only spend eighty nine billion, which I would have thought,
making it the fourth largest in the world. For the
fourth largest, you can see where the gaps are, can't you.
I mean, by the time you take out America and

(01:23:46):
take out China. You know, everyone else's small fry comparatively speaking.
So Germany is up, but they're only at eighty eight
billion as the fourth biggest player in the world. NATO
country is thirty two members of NATO one and a
half trillion dollars. That's collectively though thirty two country. He's
eighteen of the thirty two, by the way, And this
is what Trump started a number of years ago, said
no one pays the two percent. They all promise to
pay two percent of GDP on military spending. That's become

(01:24:09):
a thing. If Trump's been effective in part one IE
sixteen through twenty and his first one hundred days, it
is to get the world to spend more. Whether you
agree with it or not doesn't really matter. But has
he been effective, yess. He has to get more of
the world to spend more of their GDP on defense.
And we are following suit. If you've heard the announcements
in the last couple of days, nine billion dollars of
new spending from US.

Speaker 10 (01:24:29):
So that didn't come out of our operational allowance.

Speaker 2 (01:24:31):
Certainly didn't come out of our operational allowance. I don't know.
You take our operational allowance. I don't know what you
would have bought. You would have bought three bolts for
a tank that we don't have. Eighteen of the thirty
two NATO countries are now running the two percent GDP,
which is the high since NATO was founded. China accounted
for half of all military spending in the Pacific, so

(01:24:52):
conflict and uncertainty is good for business.

Speaker 1 (01:24:56):
Ten to nine the Mate Hosking Breakfast with the Range
News TOSAB.

Speaker 2 (01:25:02):
Acts have announced this morning there got a member's bill.
There seems to be more activity in the Members Bill department,
doesn't it between New Zealand First and Act at the
moment Members bill on Also New Zealfest had a members
bill on on toilets until they didn't and then they
were going to do the women thing, and as far
as I know they still are. Actor. I've got a
members bill to repeal legislation which requires banks and other
financial institutions to submit climate disclosures, which is good. There

(01:25:24):
are too many companies spending too much time writing about
climate when really they're not in the climate business or
have anything to do with it. I also feel sorry
for this morning for Joseph Parker I thoroughly enjoyed having
in the studio. A couple of weeks ago, the Dubai
Usik fight has been confirmed, which means Joseph does not
have a fight at the moment. Those two are going
to go out at July twenty Wembley. So Usik holds

(01:25:46):
the WBAWBC and the WBO. So Usick relinquished the IBF
when he chose to fight that rematch with Fury. So
Parker was hoping for another go at the Boi. He
was going at Dubois in Saudi Arabia the other day.
Dubois got sick, or did he, and so they said, well,

(01:26:09):
let's and so they got the guy from where did
he go? Went from the Congo to Ethiopia to Jedda
and was there for about three and a half minutes
till Joseph whacked him in the head and he fell
over and went back home again.

Speaker 12 (01:26:20):
So that was that.

Speaker 2 (01:26:21):
So he's hoping for a rematch with Dubois. It wasn't
going to happen because the money's there with the Dubois
and Usik. So Joseph sits and waits, You've got Joshua
in there somewhere. I don't know where he sits these days.
He's a money fight if you held it in London.
I don't know if you get the same money in
Saudi Arabia, but certainly if you put it into London,
the poms wild turn up to watch Joseph Parker and

(01:26:42):
Joshua go at it. Whether that's a realistic prospect, I
don't know whether he holds out for the victor. I mean,
I'm assuming also that Dubois and Yusic go together and
whoever wins or loses goes again, because most of those
things have a two fight deal. So you're waiting Jesus me.
It's times and he's in top four and he's ready
to go. And that's the unfortunate thing about boxing is

(01:27:05):
that you can be in top four, you can be
ready to go, you can build your pathway and unless
the dominoes fall your way, there's an element of a
crap shoot and luck and promoters and all that sort
of stuff. So we'll keep you posted. But we wish
him well, obviously, because he's never looked better aspari as
I can tell five minutes away from nine trending now.

Speaker 1 (01:27:24):
Were house, you're one stuff for Mother's Day Fragrances.

Speaker 2 (01:27:29):
Speaking of New Zealand, is doing well internationally. You'll be
well aware of what Lord's been up to in the
last week or so. She's got this new single.

Speaker 15 (01:27:36):
What was that?

Speaker 2 (01:27:39):
That was the whole New York pop up thing, which
was a stunt. I'm convinced it was a stunt. Actually
funny enough, I sickond guessed myself today as well, because
last time I talked about this a couple of days ago,
the park she did it in New York, I said,
I'd been to and it was a very It has
a very nice restaurant in the park with an outdoor balcony,

(01:28:00):
and last time I went there, I had dinner at
the deal balcony, and if the Lord had come along
with her with her pop up, I would have been
upset because it would have been too much noise and
you couldn't have a quiet dinner in the park. And
as soon as I saw the park again, I thought, oh,
I've probably got the park ron. It's probably a completely
different park, but for now anyway, I'm going to say
it was the same park.

Speaker 10 (01:28:18):
It's probably surrounded by person in trees.

Speaker 2 (01:28:21):
Yeah, a lot of persons in the park or quinces.
You never can tell mystery fruit. It's tricky. What can
I say? Anyway? Where was I?

Speaker 14 (01:28:30):
So?

Speaker 2 (01:28:30):
That was a stunt? Anyway, it's got her to number
one in the US, first time she's been to number
one since Royals back in twenty thirteen. It's been a
long time. So this is the daily Spotify chart, which
is completely different. The whole thing's changed. I don't know
if you realize that streaming is a bit different now
from the records used to go along to the record shop?

Speaker 10 (01:28:47):
Is there a stick chart for people who listened to it?

Speaker 2 (01:28:49):
Well, exactly, just no stick chart, len. I mean if
I listened to this on my stick, who's monitoring the stick?
I mean, I listened to this on the way home
on my stick and no one knows that that's happened.
I'm not where am I paying royalties for that?

Speaker 14 (01:29:01):
Now?

Speaker 2 (01:29:01):
I'm not number two in New Zealand, number three in
the UK, number five globally, I'm gone now, isn't it.
So what's happening globally? Is something weird happened globally there?
So pure heroine has also been reignited, because, of course,
once you listen to a new song, everyone goes, so
she's done anything else. Yes, she has pure heroine. So
that's back in the Billboard two hundred. That'll be the

(01:29:22):
first time since twenty seventeen. So Lord is back and
good luck with her, and as it turns out, we're
back number one on all the charts tomorrow from six
as always, Happy Days.

Speaker 1 (01:29:51):
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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