Full Show Podcast: 29 October 2025

Episode Transcript
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Speaker 1 (00:00):
You're Trusted Home for News, Sport, Entertainment, Opinion and Mike
the mic Hosking Breakfast with a Veda, Retirement Communities, Life
Your Way news togs had.

Speaker 2 (00:12):
Been morning and welcome today the full draft curriculum for
primary schools. Some of the numbers around the CGT and
whether they're made up? Suplitter Beck celebrating twenty years of
Rocket Lab, Mark and Ginny do Politics Wednesday, Rich it On,
Steve Price therein as well pasking well today seven past six.
Now do we have a major win for the Australian
government and is their win potentially our win? So yesterday

(00:33):
at a Senate hearing a major social the major social
media players capitulated and confirmed they would comply with Australia's
new ban on under sixteens on social media now. The
rule is set to become law in December. Up until
this point several issues have been at play. One, a
government led inquiry found no one single application that allows
under sixteens to be banned, and I'm not sure that's
actually changed. Two some of the major tech players had

(00:56):
threatened to simply turn off their services in Australia, and
three won the still very much alive and real when
the account asks your age, like abooz outlet, are you
over or under sixteen? What's stopping you lying? Lots of
activities have age restrictions. Of course, the gap between the
theory and the reality remains large. Counter argument is, at
least it's a start. It might well have a chilling effect.

(01:17):
I mean, no, it doesn't capture everyone, but it captures some,
and in capturing some, maybe it becomes a thing. You
then come to the other reality what these companies say
versus what they do now. They claim they will take
down accounts. Will they probably if it gets embarrassing or
a noise is made. But anyone who's ever had ads
involving their image sprooking things like crypto knows full well
these companies are not what you would call aggressively proactive.

(01:39):
And what in reality it takes as phone calls and
letters from exercise victims to actually get some action. But
the upshot appears to be this a month back, this
thing was a fanciful waste of time, a thought bubble
going nowhere fast, a well intentioned blue sky press release
from an interventionist government. As of yesterday's Senate inquiry, it's
at the very least, a good day for those who
argue that social media does more harm than good, a

(02:01):
good day for parents who to spirit their kids and
their own line obsessions, and a good die for a
government that made a bowl call at a time that
didn't seem backed up by a workable solution, but now
looks at least plausible.

Speaker 1 (02:15):
News of the world in ninety second.

Speaker 2 (02:17):
No, you don't want to be in Jamaica right now, Jamaica.

Speaker 3 (02:21):
This is not the time to be brief. I've been
saying for one week. Go bet against Melissa. It is
a bet we can't win.

Speaker 2 (02:33):
The main service outlines who's at risk.

Speaker 4 (02:35):
Persons who are living in the mountains in the highat
terrain are also very much concerned about what could be
experience in terms of the lifting of roofs and the
blowing down of trees and all the loss of electricity.
All these things are of major concern.

Speaker 2 (02:49):
And nor through America a couple of things growing concerned
over the safety around flying given the shutdown.

Speaker 5 (02:54):
Oftentimes I'm asked is the airspace safe?

Speaker 2 (02:58):
Is it safe to fly?

Speaker 6 (03:00):
And I will tell you that yes, it's as safe
today as it was two months ago.

Speaker 2 (03:05):
It's safe being Biden and auto Pengate. The Republicans have
built their long and whited report. It's off to justice
and they want people held to account.

Speaker 7 (03:11):
You have people who are running roughshot over the Constitution
and going rogue. That is a violation of their oath.
Not only does he have his oath as a doctor,
but he has an oath to the Constitution that he violated.
It's shameful. The American people deserve answers many time.

Speaker 2 (03:27):
The bosses in Japan doing the business.

Speaker 8 (03:28):
Japan is making big investments since the United States. And
I was just old by the Prime Minister that Toyota
is going to be putting auto plants all over the
United States to the tune of over ten billion dollars.

Speaker 2 (03:43):
And if you look up at the moment, you might
see thirty one atlas. The question is is it aliend.

Speaker 9 (03:48):
It has also arrived from the direction of the Wow
signal from nineteen seventy seven, a radio signal that we
couldn't figure out that was definitely extra galactic. It has
a lot of phenomenalies.

Speaker 2 (04:01):
That Guy reckons as a forty percent chance it's alien. Finally,
fun fact. If that wasn't a fun fact, Apple just
crossed the four trillion mark. Our new iPhones are doing it.
For another fun fact, these days, they're laggards really. They
were the first company ever to hit one trillion, then
two trillion, then three trillion, but they've been beaten, of
course by Nanvidia and Microsoft to four trillion. But more

(04:21):
on that shortly. News of the world meantime in ninety seven,
we've also got some pretty good news for South Korea
as the Prime Minister lands and APEX starts. Of course,
their GDP number came out yesterday. Are they growing, Yes
they are. Are they growing fast? Yes, they are fastest
paced this year. Central Banks is one point zero point
nine for this year, one point six percent for their
GDP next year. Eleven past six, the.

Speaker 1 (04:44):
Mic Hosking Breakfast Full Show podcast on iHeartRadio cowed by
news talks eb.

Speaker 2 (04:53):
I'm very sad news. The smalling Pronella Scales has died
at the age of ninety three, famously civil faulty, of course,
died peacefully at home yes day, to by by two sons,
one step daughter, seven grandchildren and four great grandchildren. She
was watching Faulty towels the day before she died. Fourteen
past six yeah, gall and then a rape so Greg

(05:13):
Smith and good morning, good morning. Mis hard to keep
up with all this, isn't it? With Microsoft and open
Ai and and Video and Nokia and billions flying here,
there and everywhere.

Speaker 10 (05:22):
Absolutely, it's absolutely merry go around, isn't it. So the
first deal, the daddy of them all in video that's
taking a billion dollar steak in Nokio.

Speaker 2 (05:30):
So yeah, I.

Speaker 10 (05:31):
Guess we all had those clamshell phones at one point, probably,
but the soul that may by division years ago. So
they've been focusing on to say, the infrastructure for telcos.
It looks like in video sees the opportunity to make
sure it's chips pair their next generation of AI driven network.
So first five G and then eventually six G noak investors,
they certainly liked what they heard. Shares in the US

(05:52):
sawed twenty five percent and really of course no stranger
to taking deals and other tech partners. They conded five
billion into rival Intel, and they've also invested investing one
hundred billion owner open Ai. So not to be done,
another tech titan is getting in on the act. So
OpenEye is giving Microsoft a twenty seven percent stake, and

(06:15):
that's worth around about a one hundred and thirty five
billion and it's part of the restructurings. This deal Mike
evidently took a year to negotiate cements. Microsoft's role is
Openey's biggest backer. Gives access to the chet GPT owners
take until twenty thirty two. And it's all about AGI,
which is artificial general intelligence. Now that doesn't exist yet,

(06:36):
but it's a more powerful form of AI. So stay
tuned for the Microsoft. They're going to get twenty percent
of Open Eyes revenue. The new structures are nonprofit arms.
That's quite nice. Regulars have signed off the move and
Microsoft shares up two percent on the news. Invest is
seeing it as a major win in the global alright,
so pace is eating up Mike.

Speaker 2 (06:54):
Okay, back on the ground in the real man's land.
This Domino's thing is what's going on across the testament?
Is that real or not?

Speaker 10 (07:01):
Well, no, it doesn't seem to be real at this point.
It was speculated in the media that Baying Capitals so
private equity company, they were the ones that successfully returned
Virgin Australia to the asex of after a five year episence.
See another high profile turnaround target. So Domino's they've got
the franchise for Australia, New Zealand, Japan, a few countries

(07:22):
in Europe. They've actually denied it, but certainly as a
turnaround story. When yeah, we're in lockdown during the pandemic,
they're flying high. They've since lost ninety percent of their
value since twenty twenty one, so pizza that's become commoditized.
Competition has literally been heading up cost of living pressures
and their price and strategies haven't worked. So and they've
also I suppose a bit, not more than they could

(07:43):
chew in their expansion in Japan and Europe. First in
your loss in August and two decades speculation Baine wants
your Australian usy on operations, but they have to take
the whole lot shares that up as much as twenty
five percent before the company said, I know, we're not
actually doing that. So we'll see if there's any bit
and where there's any sort of I suppose fire where
the smoke if you like, So it would need the

(08:04):
sign of from Domino's mothership in the US and one deal.
It's definitely going here at aub One of Australia's largest
insurance breaking networks. They've got operations over here as well.
They popped six percent, so they've received the bid from EQT.
Remember they actually brought out MetLife here in twenty twenty
that actually bought lots of stuff in Australia. That here,
Gym's and HR software companies haven't really had a successful

(08:28):
play for a financial services company as yet, but this
may well be it. They specialize in bringing in tech
and modernizing stuff and generating efficiencies, so perhaps they see
the same thing again. Aub shares up nearly six.

Speaker 2 (08:39):
Percent, right, what about HSBC, So they.

Speaker 10 (08:42):
Came out with a bit of a mixed result. I
suppose if you look at it fourteen percent four and
third quarter profits seven point three billion, operating expenses up
twenty four percent. Main reason here, Mike Bernie Madoff is
still causing problems I suppose for lots of companies. You know,
he's gone one point one billion costs an appeal as
part of his Ponzi scheme, which they were they were

(09:03):
actually investing directly. But they are one of a number
of banks that served as custodian and they said to
have ignored red flags and basically have to return the
securities that were actually fake but were supposedly held for investors.

Speaker 11 (09:15):
So being news.

Speaker 10 (09:16):
Outside of that, need interest income for the quarter rows
fifteen percent eight point eight billion, thirty percent jumping income
from wealth divisions. That was pretty good, and they reckon
four year need interesting income is going to hit forty
three billion. Doing really well in Hong Kong. They want
to take one of their subsidiaries, their private billion at
thirty seven billion. They've raised their profit outlooks for twenty
twenty five gable guid for double digit average annual growth.

(09:40):
The stock rose nearly five percent. London up over thirty
percent this year, so doing pretty well against the FORTS
one hundred which is up eighty percent.

Speaker 2 (09:47):
Okay, what are the other numbers?

Speaker 10 (09:49):
So we have got more records today than Mike. We've
got the Dow up point eight percent forty seven nine
one eight. We've got the S and P up point
three percent. We've got the nasdeck up point six percent
two three seven eighty seven dollars records for one hundred
for a swith also record up point four percent, nine
six ninety six, Nick Eye down point six percent, ASEX
two hundred down a half percent z X fifty we're

(10:11):
at one point one percent thirteen four six two Kmili's
goal down twenty five dollars coming back from record highs
three nine to five to seven. Oil down a dollar
sixteen he spot fifteen. Currency markets keep high against the
US fifty seven point nine lower against the dollar eighty
seven point nine British pound with forty three point six
That was up point seven percent there Japanese en we're

(10:33):
down to touch eighty eight point one.

Speaker 2 (10:35):
All right, mate, go well, catch up tomorrow. Appreciate it.
Greg Smith out of generate wealth and key we save
a specialist tasking. I predicted that sometime before the end
of the year we're going to get to three nine
to nine on mortgage money, and the banks are starting
to anticipate what the RB is going to do next month.
And this morning we have TSB who've come in with

(10:56):
a ten basis point cunt on their one year fixed
lowest AD mortgage rate on the market currently at four
point three nine. So things are getting interesting. Six twenty
one News Towards.

Speaker 1 (11:08):
VB, the Vice Asking Breakfast Full Show podcast on iHeartRadio
powered by News talksv I'm just.

Speaker 2 (11:21):
Going to update you on my obsession with African democracy,
I use the word democracy very loosely. In Cameroon, which
we've been waiting for the result, Ban who's about one
hundred and fifty seven years old anyway, he wonly got
fifty three point seven percent of the vote. To the
guy Backery who claimed victory, he only got thirty five
percent of the vote. So this guy's at ninety two
and he's got another seven years, so it will be
over one hundred by the time it's done. Meantime, Ivory Coast,

(11:44):
the president, guy called Atata, he got his fourth term.
He got his fourth term because he did a very
African thing. He rounded up a couple of the challenges
and barred them from running. So when he actually got
to the boat, he got eighty nine point eight percent
of the vote voted. Turnout was fifty percent, so he's
got that sort of time. In Guinea, they've just announced
they've got elections in December. Presidential elections. But if you

(12:06):
want to run for the president or the presidential role,
you have to come up with about one hundred and
fifty thousand New Zealand dollars by way of deposit. And
of course if you've looked at Guinea lately, not many
people had that sort of money, So there's a bit
of angst around that advantage being that if you put
the deposit down and when you get your money back.
But of course, if you put your money down and

(12:26):
don't win, unfortunately for you nothing Mike didn't have. Can
say as long as he's leader of the Labor Party,
there'd be no CGT. That's quite a good question answer
shortly six twenty five.

Speaker 6 (12:40):
Trending now with Chemist Warehouse celebrate big brands and big savings.

Speaker 2 (12:45):
Before I get to that, it penny Wise, the Keller
clown Stephen King, multi billion dollar franchise, two films so far.
What have we got now? TV show? They've called it
it Welcome to Derry and it's at twenty seven years
before the first film.

Speaker 12 (13:01):
I saw something.

Speaker 7 (13:08):
No one's gonna believe me.

Speaker 13 (13:10):
There's a history of stuff like this happening in Darry.
We need to figure out what it actually is.

Speaker 6 (13:18):
Everything will be okay, hear me.

Speaker 2 (13:21):
They went into my mind.

Speaker 11 (13:26):
What exactly what we're looking for?

Speaker 14 (13:28):
Something that was buried in Darry a long time ago.

Speaker 2 (13:41):
No one who dies here ever really dies.

Speaker 1 (13:44):
What's the matter?

Speaker 12 (13:45):
See things.

Speaker 2 (13:46):
Okay, so Bill scars Guard, who was in that thing
with Nicole Kidman and was quite good in that. I've
never seen you this nonsense. Of course he's returned. It's
on HBO Max as we speak. And you can go
do that by a neonal sky or VPN it or
I don't know, magic it up or ask your kids
how you get it on the cell phone. No he didn't,

(14:08):
is the answer to your question. What he didn't I
look that up yesterday. Funnily enough, the CGT and Hipkins,
he said at the time he was bringing an end
to it, and so he will argue that a new cycle,
new election, new mandate, you go to the people with
a new idea. What I didn't here yesterday out of
all the coverage, and we'll crunch a few numbers with
an economist in a moment, is why did nobody ask it?

(14:29):
Or maybe they didn't. I missed it, but I did
some looking. Is this a stalking horse? So the door
is open? Surely this is just the start. Did nobody
say to Hipkins, do you guarantee as long as you
are leader of the Labor Party, this is the policy.
There will be no adjustments, no change, no increases, No nothing.
Did no one ask that question? I would have thought

(14:50):
that was the most obvious question to ask. I might
ask our economist in a couple of moments. He won't
know the answer, but somebody needs to ask the question anyway.

Speaker 1 (15:00):
News next, the newsmakers and the personalities, the big names
talk to make the mic asking breakfast with the defender
embraced the impossible. News talk said, be you look a.

Speaker 2 (15:11):
Touching down and Jamaica literally as we speak, Richard Arnold
with more shortly twenty three to seven back Ye, labor
successfully got their day in the sun. Of course yesterday
for a policy idea of capital gains tax on your
business or investment house. A lot of questions came out
of the leaked announcement, not least of which was why
was it leaked? But as for the numbers? Ed McKnight
is the resident economist at OPE, his partners and is
with us, Ed Morning, great to be here. I as

(15:33):
you look at the numbers yesterday and their claims, would
you be confident that they're accurate? Or are we guessing?

Speaker 15 (15:40):
Well, one hundred million dollars that are expecting trays in
the first year sounds pretty reasonable to me. They are
relying on probably a couple of percentage points worth of
capital growth in the first year, but it's based off
some pretty realistic numbers in terms of how many investors
might actually sell, which is about six to seven thousand
by my numbers.

Speaker 2 (15:58):
I don't think it's your area, but stalking horse aspect
of it, is this the beginning of something bigger? Potentially
if you were writing the policy.

Speaker 15 (16:06):
It could be. But what I would say is this
isn't a real capital gains tax because not everything's captured
by it. This is a real estate investor tax. Now, Mike,
I don't know I look like a football, but I
certainly feel like a political football at the moment being
kicked around between the two major parties exactly.

Speaker 2 (16:24):
Now, this one, I mean everyone, the idea that everyone's
got one, and that was their line yesday. Oh lots
of people have got one. Is that a good enough
reason to implement a tax?

Speaker 11 (16:33):
Well, not everybody's got an investment property.

Speaker 15 (16:35):
We've got this idea that every man and his dog
is out there buying investment property, but only somewhere between
ten to fourteen percent of people own residential investment properties
in New Zealand. And it's come into this kind of
national psyche that everybody's doing it. But it's kind of
not the case.

Speaker 2 (16:52):
No, indeed not. What I meant was that everyone internationally,
every country has a capital gains tax, therefore we may
as well have one as well.

Speaker 15 (17:00):
I've got chen out. Yes, well, most countries do have
capital gains taxes. There are a couple of small exceptions,
like Singapore, the United Arab Emirates, Hong Kong and Macaw.
I always thought it wouldn't it have been nicer to be
like Switzerland, Singapore and the United Arab Emirates rather than
like everybody else, because those countries seem to have something right.

Speaker 2 (17:17):
So that was our point of difference. Nichola Willis was
making that point yesterday. It's our point of difference with Australia.
She has a point.

Speaker 15 (17:22):
Then you would argue, oh, I think there's something to
be said about it. The other thing that I'd say
about the capital gains taxes, We've always thought of it
as a bit of a house price killer, but I've
got some numbers that suggest that's not the case. Tell me, well,
Australia introduced a capital gains tax nineteen eighty five. Since en,
house prices have gone up and averages six point five
percent a year. The UK they brought one in nineteen

(17:46):
sixty five. Since then house price is up over eight
percent a year. Canada nineteen seventy two. Since then house
prices up six point seven percent a year. The USA
nineteen thirteen is when they introduced their capital gains tax,
and since nineteen seventy house price is out five point
four percent a year. So this idea that capral gains
Texas are going to kill capital gains and the housing

(18:07):
market just not the case.

Speaker 2 (18:08):
Good insight. I'd appreciate it very much. Ed McKnight, who
is the resident economist at OPEZ. This morning, Mike Hopkins
proposal to meet a new demand on GPS. How are
they going to do that when everyone gets free visits?
It's a good question. And why are they giving free
visits to people who don't need them? Hopkins is going
for shock and or Mike to bring attention to the
party and the young revolutionaries bring them out of the

(18:31):
closet to vote. I'm not sure that's true. Tony Alexander
had some very interesting comments about all of this. More shortly,
it is twenty two.

Speaker 1 (18:38):
The Mike Asking Breakfast Full Show podcast on iHeartRadio powered
by News Talk Zippi.

Speaker 2 (18:45):
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(19:49):
get all the details at Milford pasking Mike, effect on rents?
Magic up more gpsre the GP thing's real? The effect
on rents?

Speaker 11 (19:58):
Will?

Speaker 2 (19:59):
It depends if you believe it. If you take away
the demand for housing, you take away the builds, and
the builds some of them become rental. So yes, the
price of a rent goes up. Mike, What happens of you?
And this is the most oft asked question yesterday? What
happens if you've got an eight hundred thousand dollars valuation
in July then yourself for seven hundred thousand dollars? Do
you get a credit? You don't get a credit. It's
the same tax treatment as you would have on a

(20:20):
rental property currently. So each year if you lose money,
there is a tax treatment on that. That tax treatment
wouldn't change, Mike, do you think that as Hipkins is
the first crack and having the first crack to introduce CGT.
This has now opened the door for national to follow
suit without committing political suicide.

Speaker 16 (20:37):
No. Six forty five International correspondence with ends at Eye
Insurance Peace of mind for New Zealand business.

Speaker 17 (20:44):
Richard, Are your morning, It's corunchtime? Makee good morning? Yeah,
striking by Yeah. The Hurricane Warning Center, based in Florida,
says Jamaica now is being pummeled by one of the
most intense Atlantic stores on record. This could be most
devastating hurricane ever to hit Jamaka. Can Hunter, one of
the Center's survey planes, flew into the eye of the storm.

(21:04):
They had to turn back because of the strength of
the turbulence that they encountered. This storm to pass the
peak intensity that we saw twenty years ago with Hurricane Katrina,
which decimated New Orleans, of course, killing thirteen hundred and
ninety two people. This storm has top wind strength of
around three hundred kilometers and now the Hurricane Center says
this will lead to quote total building failures and catastrophic

(21:25):
wind damage. The storm has moved in from the southern
coast of Jamaica's main island, but the stats are pretty astounding.
The prediction is for rain totals of around one thousand
millimeters so forty inches in the mountains, while a coastal
storm surge of up to four meters is expected that
would bring obviously devastating flooding. They've been evacuating folks from

(21:45):
the locally storm path and housing people in the strongest
shelters they can find, as Local Government Minister Desmond mackenzie
is saying, we have.

Speaker 18 (21:54):
Provided shane sport right across the contratique versus all of
these areas, and we have also issued a Monday to
be blackish on order that allows us to you know,
to buoying and to assist persons in getting on well.

Speaker 17 (22:10):
Jamaica's Prime Minister Andrew Holmet says he has been on
his knees in prayer. A lot of tourists also stranded,
and the storm pass is one.

Speaker 5 (22:19):
We get through the wind and the rain and everybody
is saying that's all ass well.

Speaker 17 (22:24):
Melissa is moving on shore to the west of the capital,
Kingston and not far from Treasure Beach and other tourist bons.
Another visitor says it is nerve wracking. You hear the
wind outside, and you hear the water outside, and you
think to yourself. What if what would I do if
I just heard a crack and my roof blew off?

Speaker 2 (22:41):
Then we come to the shutdown.

Speaker 17 (22:42):
Where are we at day twenty eight, counting on with
this lingering disaster. It's really starting to buy it. The
air traffic control has just missed their first paycheck. They've
actually set up food banks at some airport so the
air traffic controllers who were working with no pay can
take food home to their families. I mean, seriously. The
ATC union chief Nick Daniels says he is hearing many

(23:06):
concerning stories from controllers, like one fellow who's worried about
life saving meds for his daughter.

Speaker 5 (23:12):
I got a message from a controller that said, I'm
running out of money and if she doesn't get the
medicine she.

Speaker 4 (23:17):
Needs, she dies.

Speaker 11 (23:20):
That's the end.

Speaker 5 (23:21):
So I'm going to either have to quit this job
and take a different one instead of moving Americans, you know,
passengers through it or the cargo. Now, I'm going to
have to choose my family and my daughter.

Speaker 17 (23:32):
Controller Pete Fever says of the situation that they're facing.

Speaker 19 (23:36):
It's unfair.

Speaker 20 (23:38):
We come to work, we're aviation safety professionals, we are
American workers. We are here to ensure that the flying
public is safe.

Speaker 17 (23:45):
These are skilled controllers whoever see is safety, says one
traveler today.

Speaker 21 (23:50):
We'd rather not think.

Speaker 22 (23:51):
About it as we're about to get on our plate.

Speaker 17 (23:53):
Don think about it.

Speaker 1 (23:53):
Yeah, that'll help.

Speaker 17 (23:54):
The polley is still are getting paid, but, says another
government work of getting no salary at all.

Speaker 7 (23:59):
Right now, utilities call their due my car olders, do
my insurance is due?

Speaker 17 (24:06):
Then this Sunday your time. Food money stops for forty
two million Americans who receive at least some food aid
to stave off hunger. Roughly one in eight people in
this country get food stamps, which average around one hundred
and eighty seven US dollars a month cost the federal
government about eight billion a month. Now, more than two
dozen states are suing the Trump administration to force them
to tap into emergency reserve money. They want to use

(24:28):
the six billion in reserves to keep the food money
going into November, but the Trump White House says no.
They already diverted billions to pay for border agents while
seeking to fire thousands of other laid of federal workers.
Both parties are holding strategy meetings today with the Republicans
saying that Democrats are responsible for the shutdown, while Democratic
leader in the Senate Chuck Schumer says that Trump should

(24:50):
stop focusing on foreign troops, ballrooms, and bailouts for Argentina.
Not a side budging, but this hopefully just cannot go
on much.

Speaker 2 (24:59):
Ketchups in Richard I stateside. Just the other thing out
of America, the NBA's announced National Basketball Association they're reviewing
their betting related issues to protect the integrity of the game.
Not surprisingly, so they're going to put a focus on
what they call proposition bets, so that's where you sort
of gamble or wager on statistical performance of any given player.
I don't know how to get around that. They're also

(25:19):
going to review how injuries are reported publicly, ways to
improve the use of artificial intelligence and other tools to
identify betting patterns that suggest gamblers have got access to
inside information about players and teams. So they're in a
world of pain over this. So anyway, we'll see where
the review goes.

Speaker 1 (25:35):
Ten to seven the make Hosking Breakfast with Bailey's Real
Estate News togs.

Speaker 2 (25:40):
There'd be do a lot of reading of late on jobs.
Jobs are becoming a thing, and the robots have arrived.
So Meta are laying off an undisclosed number of employees
at what they call their risk organization. They did have
people do that, they're now going to get AI to
do it. As of yesterday, Amazon, it was reported, were
going to lay off as many as thirty thousand. Good news,
it's only turned out to be fourteen thousand. Microsoft have

(26:04):
already laid off fifteen thousand so far this year, Meta
six hundred, Google more than one hundred in their design
related roles, Sales Force four thousand, Intel twenty two thousand.
Close to twelve hundred tech companies since twenty three have
laid off over two hundred and sixty thousand people because

(26:24):
of AI or robots. Amazon have got a thing called
blue Jay. Now this is their new robotic system and
their warehouses and it's they're testing it in South Carolina
as we speak. The difference with blue Jay and any
other robot is blue Jay does four things at once.
So once a robot would just like sort or a
robot would pack, blue Jay does everything. And so at

(26:48):
that point they turn around to their people and they go,
sorry about that, no longer needed. Target eighteen hundred corporate
jobs have gone Check. Now you won't necessarily have heard
of check, but Check's interesting. Check BIG's an educational facilitator.
And what you normally do is you might google. You know,
whats a maths equation that I could put to my
five year old that might get fed to check check

(27:09):
feedstep back, because no one googles anymore because of AI.
Their capex has gone from fourteen point seven billion down
to one hundred and fifty six million. Their share price
is tanked ninety nine percent so far this year, so
that's once again the effect of AI, and they're laying
off people like this No Tomorrow five away from seven.

Speaker 1 (27:28):
For the ins and the ouse. It's the fiz with
business tiber take your business productivity to the next level.

Speaker 2 (27:35):
As good a bit of sport as I've ever seen
last night, and I lucked in because I happened to
go back to it. I was watching a bit of it.
Then it kept going and I thought, oh my god,
it's still going. I can't believe that this was the
baseball Game three World Series Blue Jays Dodgers in Los
Angeles said all kinds of records. Eighteen innings, time for
the longest in history, six hundred and nine pitchers, forty
eight more than any other postseason game ever, six hours,

(27:55):
thirty nine minutes long. The game so Dodger Stadium. They're
taking a bit of flat this morning because the cost
of staying there for so long is a fortune. A
beer thirty four to fifty. It's a lot of beer.
You get two big beer two equivalent cans, but thirty
four to fifty. Parking your car. Small car one hundred
and thirty eight dollars, big car two hundred and sixty bucks.

(28:19):
Fourteen hundred dollars just to beat the game, By the way,
on average, you can pay more if you want. Hot
dog thirteen eighty. Arizona Diamondback sell their dogs at five sixty.
Mind you, the Arizona Diamondbacks aren't the World Series?

Speaker 10 (28:30):
Are there?

Speaker 2 (28:31):
So there? Sixteen inch dog and a pound of chips
seventy dollars. Four new menu items for games three through
five at Dodgers Surf and Turf. They're loaded nachoes, you
get lobs to steak scaions on want on chips for
seventy nine you got a cocina people bone marrow, taco,

(28:52):
fraysed pork served on top of bone marrow seventy one
dollars sounds disgusting. Big ice cream Sunday on top of
Achiro fifty six. And the big ticket item this is
the one that if you go on the socials you
can see them, you know, in innings eighteen chowing down
on it's full tomahawk with potatoes and chim churri. Two
hundred and sixty. So that's quite a day out. So

(29:13):
you pay fourteen hundred for your ticket, two hundred sixty
because you well, if you can afford your fourteen hundred,
you got a big car, haven't You got a left
one fifty? So you paid two sixty for your park
and you're chowing down on your tomahawk. You paid well
well in excess of two thousand dollars just for a
single game.

Speaker 14 (29:26):
I've forgotten what the game actually was. Now, what's what
are we talking about?

Speaker 2 (29:29):
If you look it up, it's probably not as exciting
as it was watching it live, But as it unfolded,
it really was as good as sport gets. And the
brilliant thing about baseball it never ends until it ends.
And I kind of like that. I decided yesterday you
use it a couple of moments, then we'll get to
the business of education. The draft curriculum in full is out.

Speaker 1 (29:51):
Credible, compelling. The breakfast show you can't miss. It's the
Mic Hosking Breakfast with Bailey's real Estate finding the buyers
others can't use.

Speaker 2 (30:00):
Togs v Morning seven past seven to Education, where we
have the longer way to draft curriculum for years one
through ten this morning. Key changes include broading out social
sciences and New Zealand history, along with introducing civics and
financial education. Erica Stamford is the Education Minister and is
with us out of Australia. As it turns out, morning,
good morning. It seems correct me if I'm wrong, less
controversial than some of your higher school decisions and subjects

(30:23):
in the battle you've got going there? Is that fair?

Speaker 13 (30:27):
No, it's not controversial at all. I mean what we
have is a knowledge rich curriculum. It's been a few
years in the making. It's carefully sequenced. It lays out
what students have to know and what they need to
be able to do, and it's consistent so that every child,
no matter where they go to school, they get access
to quality learning. And it's exciting and engaging. It's a

(30:47):
really exciting day.

Speaker 2 (30:48):
In terms of results. What do you expect and when?

Speaker 13 (30:53):
But we know that knowledge builds on knowledge builds on knowledge,
So we have to be teaching children so that they
can then work towards those higher order skills that businesses
and universities and everybody likes critical thinking and problem solving,
and so what we expect to see, especially for the
most disadvantaged kids who come to school without lots of

(31:14):
prior knowledge, that we will see a closing of the
equity gap. It's like beltcrow, knowledge sticks to knowledge. So
now that we have this consistent curriculum, no matter where
you go to school, no matter what family you are from,
you will get the knowledge that you need to be
able to be successful in life.

Speaker 2 (31:32):
Think good results. Sure, is any part of this about
actually getting kids to turn up? Does a curriculum do that?
Or is that a whole different matter.

Speaker 13 (31:39):
Look, I think it will be in a way, and
that is because children will start to experience success, they'll
feel good about themselves, and it's an exciting, engaging curriculum.
But actually it's the incredible teachers that bring it to
life with their professionalism and judgment to know how to
engage the children in front of them, and that will
continue to happen. But what this will do is it
no matter where you go to school, you will be

(32:01):
learning the same thing and have access to the same knowledge.
So if you're a transient child, for example, and you
change schools, you'll be learning the same thing. So it
will mean that it's less likely that you will disengage
you from your learning. But it'll also mean that kids
are building up knowledge and feeling good about themselves, and
so when you feel good about yourself, you're more likely

(32:23):
to turn up to school. So it's a great curriculum.

Speaker 2 (32:26):
The rephasing of the implementation, did you buy it off
more than you could chew?

Speaker 13 (32:31):
No? Well, if you think about what we inherited, the
whole curriculum was supposed to land in twenty twenty seven,
the whole thing, the whole every single area. We've introduced
Maths and English to start with, and they have been
introduced this year and they'll just be required next year.

Speaker 21 (32:47):
That's it.

Speaker 13 (32:48):
Then there's three more areas the next year, and then
we've now phased out another three a year after that,
so we've actually carefully phased it over a much longer
period than was originally intended to give teachers time time
to learn the new curriculum, get the professional learning and development,
understand the new resources, and teach it to our kids.

Speaker 2 (33:05):
Not that I'm against civics, because I'm not. But one
of the great arguments around civics is you've got to
know how the system works and understand it so you
can participate. They do, of course, and have done for decades.
Do that in America and half of America doesn't turn up.
So what's the point of civics.

Speaker 13 (33:19):
Well, I think we can be a bit more ambitious
for our kids. It's long We've long called for teaching
kids about societies and how they were formed, and what
democracy is and what it was like in other countries,
and is there democracy in every other country? And now
what is a voting system like? We have a relatively
complicated voting system. Many people still don't understand MMP. So

(33:42):
teaching our kids about it is really important. Will it
lead to higher voting I hope so. But I guess
we'll see.

Speaker 2 (33:48):
Line from Act and the indoctrination and history is over.
Did you see it as indoctrination?

Speaker 11 (33:55):
Oh?

Speaker 13 (33:55):
Look what I wanted to see in this curriculum the
social science is correct, was not just New Zealand history,
and that's what we've had, just a huge amount of
content on local New Zealand history. What we wanted to
see in terms of balance was New Zealand history, our
place in the world, world history, what are the great
events of the world that shaped the world that we

(34:17):
live in, as well as geography, civics and society and
financial literacy, which are all in there now. So it's
a much broader curriculum because Aero told us last year
that kids enjoy history more when they are learning about
far away places and overseas events and how we connected.
So you're now going to learn about the Stone Age

(34:38):
and the Romans and the Greeks and the Egyptians and
kings and queens and revolutions. It's really exciting.

Speaker 2 (34:47):
What's your rule of thumb when you've arrived with no
bags before you go shopping? How long with no luggage
before you shop?

Speaker 13 (34:56):
Actually, when we turned up last night in Sydney, we
went straight to a night and day the corner and
I have really you can imagine the quality of my
moisturizer tona deodorant. So yeah, there's a more luckily across
the roads. We're going to hit there being on nine
and try and tidy ourselves up.

Speaker 2 (35:14):
Good go, Well, appreciate that. Education Minister Erica Stamford, who's
up in the early hours of a Sydney morning forest
telve minutes past seven, oscar and the way you asked
this is zerrach abb children. Yes she does, Mike. It
pisses me off when Hipkins constantly calls out successful people
to pay their fair share. Eighty percent of the tax
takers paid by the top ten percent of earners. That's
an age old equation and that is left wing politics.

(35:35):
That's what they do. It's about redistribution. It's not about
growth or success. It's about taking something from one person
giving it to somebody else. Mike, I'm a hard working builder,
but at forty years made the decision not to go
with Kii Saber and invest in the property market instead.
This is my retirement. Why am I being so unfairly targeted?
Craig playing Devil's advocate, you're not because if you'd gone

(35:55):
to Kye Saber, your savings would be taxed. The argument
around CGT is, of course You're housing is not taxed, Michah,
the company owns a commercial property. Very good question this, Mike.
If a company owns a commercial property as one of
its assets, and if it sells its shares, then will
the CGT apply? Is there a CGT on shares? No,
not on shares, but your connection to the company is interesting.

(36:17):
My follow up question would be if you own your
houses within a company structure, which would not be uncommon,
is that attracting a CGT as well? And I don't
think at this point the labor party can answer that.

Speaker 1 (36:31):
Thirteen past the Mike asking Breakfast Full Show podcast on
iHeartRadio powered by News Talks at b.

Speaker 2 (36:39):
Peter Becker's celebrating twenty years of Rocket Lab at the moment,
so we'll talk to him after seven thirty sixteen past
seven Building anks around ACC, they've gone and taken a
number of long term recipients off ACC. Nearly eight thousand
of them have been cut off. This is in the
year to June, which is up twenty percent on the
previous year, so obviously a lot of people are asking
what that's going on. Megan Maine is the ACC chief
executive and she's will this Megan brig morning to you.

Speaker 19 (37:01):
Good morning Mike.

Speaker 2 (37:03):
Now twenty percent. It's a thing, isn't it. I mean
anyone looking at a number like that will go hang on,
something material has happened. What is it?

Speaker 19 (37:11):
Yes, So Mike, I want people to know first up
that this isn't about taking support away from people who
need it from ACC And to put that eight thousand
in context, as of today, we've got almost twenty five
thousand a SC clients who've been receiving weekly compensation for
over a year. That includes both serious and non serious injuries.

(37:34):
So with serious injuries, these are our clients who will
need support from us for a long time, even their
whole life, and we will always be here for them.
These less serious injuries, though, things like strains and strains,
what we've seen over the last decade is a big
increase and the number of them who've still been receiving
weekly compensation a year or more after the injuries. But

(37:56):
there are a range of reasons for this. That the
thing most in our control is our case management approach,
and I've spoken before about the changes we made back
in about twenty nineteen that meant a lot of these
less serious injury clients no longer had their own dedicated
case manager, so this contributed to more of them staying
on weekly compensation longer than you'd say is ideal. How

(38:19):
the two years ago?

Speaker 2 (38:20):
How rigid are you when you come to a person
who's got a strain when you look at their work.
Do they have to stay within the work they were
doing or do you talk about things like changing careers,
changing training, moving town or is that not within your auspices.

Speaker 19 (38:36):
Yeah, that's a good question. And you know, this is
the importance of our one to one case management support,
so we can give people the right support at the
right time. And what we're looking to do is ideally
help them get back to their job if they don't
still have their job, get back to a level of
work that they can manage, or in some cases get

(38:57):
back to independence, you know, really get to living their life.
There's really strong evidence that if you can, then getting
back to or staying engaged in work has a really
positive impact not just on your recovery, but your mental health.

Speaker 2 (39:12):
Do you need to convince them of that? I noticed
in Britain over the weekend one of the ministers there said,
what we need people to do because they've got a
massive sickness problem. Like we do in this country, is
we need to convince people of the value of work
so that not working doesn't become a mindset. Is there
something in that?

Speaker 19 (39:31):
Look, you know, we get too manion claims a year.
They're not all weekly compensation. But the vast majority of
people want to do the right things. They want to
get better, they want to get back to living their life.
We can do our path. We've invested in more case
management by reinvesting savings from other parts of the business.
We've also invested in more fraud abuse detection. But we

(39:55):
do need every New Zealand at playing their part, you know,
doing the right thing, being active in their recovery, working
with us, and you know, and also taking care so
that they don't get injured in the first time.

Speaker 2 (40:07):
Exactly. All right, nice to talk to you, Megan Meghan Main,
who's the ACC chief executive. Two million claims a year?
Goodness say, I mean if there were three hundred million
of us, fine, but there isn't. Mike, my son flew
to La Saturday. Can you believe this story? This is brilliant.
My son flew to La Saturday to watch Games three
and four of the World Series. Couldn't believe his luck
to watch Last Night. I mean that's worth he needs

(40:30):
an overdraft though for the price of food and beer.
As I was telling you before. But if you went
to watch the World Series and then you got to
see Last Night, that's that's dream come true, isn't it?
Seven twenty.

Speaker 1 (40:42):
The Mike Asking Breakfast Full Show podcast on aheart radio
powered by News Talks eb.

Speaker 2 (40:50):
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(41:11):
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You can save twenty five percent on the Aveen SPF
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Chemist's Warehouse Summer Ready sale in store online check them
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(41:33):
sale ends midnight tonight. It is great savings every day
at Chemist's Warehouse, Asking twenty four. Right between Tray and Wanaka.
We're seeing excellent examples of our town's communities, and our
economy is getting held back at the moment traw you
got Burger King and Starbucks wannicare it's the famous makers
scrap Now machers are back for a second crack, having

(41:54):
been dispensed in round one by the locals who you
would have thought were repelling the Germans or locusts. Now,
before we get into the nitty gritty, it's the wrong
place where special. We don't have these sort of things
at our place. What we need is some simple rules, right.
The simple rule should be is what you do illegal.
If it isn't, there better be a spectacular reason, then

(42:16):
it shouldn't go ahead. Next rule is, if you want
to object, you've got to pay for it, pay and win,
you get a refund, pay and lose. Tough luck should
be the same for things like the BSA. By the way,
the simple truth about human nature is if you give
certain sorts of people a free run at winging, they're
going to go to town so wanaka classic Nimbi territory.
Because all we all know why MAC has got a

(42:36):
hard time round one, don't we? We all know their low
rent fast food is low rent. The snobbery is nauseating.
One of the submissions last time you may remember, was
from Health New Zealand. For goodness sake, I mean what
they were doing, raised eyebrows all the way to the
minister's office, who told them to pull their heads in,
but they argued obesity rules. See MACS has no more
linked with obesity than the fish and chip shop. But
because the fish and chip shop is quaint and Bill

(42:58):
and Mary your neighbors run it, and it's a bit
of keying nostalgia, we don't think of it like we
think of macis the value of killing all the excuses?
Is there a Pandola's box? Of course, Once one excuse flies,
derivatives of the excuse get invented. Groups are formed, lawyers
are hired, tensions rise campaigns are launched. It's all on
I've got the personal interest or stake in macas or

(43:18):
Burger King or Starbucks. But what I do know is
that they are legitimate businesses. They pay tax, they employ people,
and some people, well, some people like to frequent them.
Selling food should not be a reason for an objection
or commissioners or submissions, or any sort of process that
stops people getting on with life. Tony Alexander summed it

(43:40):
up perfectly yesterday. The CGT idea he opens us in
one roof read the full thing. Let's say people ignore
the improvements in the economy and jobs and the jobs market,
and the uptick in house prices and vote labor. Let's
also put aside the following folk like me do not
need free doctors' visits. I'm happy to pay and will
willingly subsid other sick people. Also, the tendency of taxes

(44:03):
to retard rather than drive economic growth, employment and productivity.
The absence of a pool of billions of dollars to
flow into our other investments, because most money used by
investors is borrowed and not already saved equity. So it
makes the immediate point is the chances are that the
government are going to get back next year because all
the aforementioned are going to happen and this thing will
never be a thing. Here's my long term prediction. I've

(44:23):
offered this once, but I'll reiter it now. Here's my
long perdiction. Next year is not a foregone conclusion in
the election. The pop place this and we all get
a bit angsty. An election year and things is even
flow and it all gets a bit exciting. That's why
most of us love election year. But ultimately the government
will be returned, because history shows us that's what happens. Generally,
you get two terms at which point, either on the

(44:44):
night Chippy will resign or if he doesn't want to
resign on the night, he will be rolled a couple
of weeks later because he will have taken his party
to the election with another failed tax policy and they'll
be wanting to get rid of them. The big question,
this is the important question for us, all those of
us who would like to stay in the country for
us sustain period of time instead of bailing like everybody else.
The big question is for the Labor Party at that point,

(45:05):
having taken that policy to the campaign for a fourth
time and failed, do they get rid of it forever
and do they become a centrist labor party as opposed
to a left leaning labor party. That's your big question.

Speaker 1 (45:18):
No fluff, just facts and fierce debate. The Mic Hosking
Breakfast with Alvida, Retirement, Communities, Life Your Way, News, Togstead,
be Mark.

Speaker 2 (45:27):
And Jimmy a Politics Wednesday, twenty three minutes away from eight.
If you can believe it, Rocket Lab is celebrating twenty
years one of the country's growth success stories. Of course,
milestone year become the fastest a company ever to get
fifty rockets into space these days, valued north of twenty
billion as customers like NASA and the US Air Force
and Sir Peter Becker's of course Rocket Labs founder and CEO,

(45:47):
and as well as Peter Good morning, Good morning, Mike.

Speaker 19 (45:50):
How are you very well?

Speaker 2 (45:51):
Indeed, thank you if you charted the idea versus the
reality of how it panned out, what happened?

Speaker 21 (46:00):
It was all too slow, if I'm honest with you,
I was expecting to be further on than we are.
But but no complaints. Really, I think you know, the
company continues to grow really really strongly, But you know,
it always it always seems like it's going to take
a shorter period of time than it really does.

Speaker 2 (46:15):
It continues to grow to be.

Speaker 21 (46:18):
What well, look, we're trying to build a bigger space
company in the world, unashamably. That's that's where we're trying
to go. And and you know, if you look at
look at the market cap today, as you pointed out,
it's it's like five times the size of Fonterra. So
we're doing okay, but there's there's a lot more to go.

Speaker 2 (46:35):
And so in space is one of the things we've
learned in space to be successful, it's all about scale
or is that not fair to say?

Speaker 21 (46:43):
It's all about scale, and it's all about execution, and
it's all about reliability. And you know, there's there's been
a lot of a lot of capital poured into the
space industry over the years, and and you know, if
those those three things aren't there, then then that's that's
where the failure occurs. But you know, we've been we've
been lucky and worked hard to make sure that you know,
we continue to execute and our products work and work reliably.

Speaker 2 (47:04):
It seems today that there's money out there, truckloads of
money for things like space AI all of those sort
of things. Was that always the case when you started
in space? Was there money out there for cool ideas?

Speaker 21 (47:17):
No, you have to put it into context, Mike. I
came from New Zealand with no degree to Silicon Valley,
from a country that had no space industry, and raised
five million dollars, which was an absurd amount of money
at the time. I mean, you go to Silicon Valley
now with just a nutty idea in space and you
can go and raise fifty one hundred million dollars. So no,
very very different times.

Speaker 2 (47:37):
How much I mean, your reputation precedes you. I am
assuming to some degree now because of your success. But
how much of the money in space these days is
just crazy money? Risky money? Throw it at an idea,
some of it will stick.

Speaker 21 (47:51):
Not less now like it was super fluffy in twenty
twenty one. Like you know, we saw things that get
funded that didn't even follow the laws of physics, but
much much harder now.

Speaker 2 (48:02):
Do you need what would you call yourself? Are you
a visionary or are you a businessman or a bit
of both? And if you are a visionary, do you
need a businessman?

Speaker 21 (48:12):
Well, I'd hope that on my Termbstone, it says engineer.
But but you know, it's definitely a strong marriage between
engineering and business because you have to you have to
make good business decisions along with good engineering decisions, and
if either one of those decisions are bad, then then
that's that's when when that's when you have problems.

Speaker 2 (48:31):
Is there a certain I already in having NASA involved in it?
Once upon a time, Space was NASA and NASA was space,
whereas the whole thing's sort of flipped, hasn't it.

Speaker 11 (48:41):
Yeah?

Speaker 21 (48:41):
Yeah, I mean it's funny because my original dream is
to go and work for NESSA, and I think it
was on our fourth launch that we actually flew NASA,
so that was there was you know a bit of
a bit of a moment for us. But but but
NASA's always sort of contracted folks to build stuff for them.
They've always built up as well. But it's certainly much

(49:01):
more of a you know, an outsource model now than
it ever was.

Speaker 2 (49:06):
Is your story typical? In other words, if you start
from New Zealand in an area that goes big globally,
you will inevitably have to leave New Zealand and be
somewhere else. Is that fair?

Speaker 21 (49:18):
Well, I mean, this is the crazy thing about if
you want to build a big, successful company, by definition,
it has to be global because there's not scale in
New Zealand. So I always always get somewhat annoyed when
folks say, oh, isn't it sad that rocket Lab had
to list in Nasdak and be a global company. It's like, no,
that's the only way you can build scale. I think

(49:39):
it's a great success when companies start in New Zealand
and grow and have to go into national and global
and become large, successful, multi multi nationals. I think that
is a definition of success.

Speaker 2 (49:51):
What about the technical side of what you do and
how fast it's increasing in terms of what you do,
the efficiency of what you do, the reliability of what
you do, and whether that projection keeps going.

Speaker 21 (50:04):
Yeah, well, I mean you know, as long as as
as long as technology keeps moving, then then that's always
the case. I mean, we certainly sit on you the
bleeding edge of innovation, and that's part of our secret. Writers.
If you look at our kind of traditional competitors, the
large aerospace primes, you know that their failure has been
innovation and a lot of respects. So you know, you

(50:26):
can chart the course and look at the similarities between
you know, the successful space companies and they all look
kind of like rocket Lab and space X these days.

Speaker 2 (50:35):
Yeah, are you cognizant? And do you think of what
you've done for your industry in a place like New Zealand?
So in other words, you were a pioneer and a
kid in school can think of space as being a
real option as opposed to a dream like option.

Speaker 21 (50:52):
Absolutely, it's a real option. I mean for me growing up,
it was was I have to move to America and
go and work Panassa. But you know there's about nine
hundred kiwis that just work in rocket Lab alone, and
we have something like one and a half thousand supplies
all supporting the various missions that we have going on
around the world. So, you know, a career in space
these days is you know that that is absolutely attainable

(51:13):
and almost standard.

Speaker 2 (51:14):
Do you have labor issues hiring great people or is
the industry full of great people?

Speaker 18 (51:20):
No?

Speaker 21 (51:20):
We do, I mean, and the bar at rocket Lab
is extraordinarily high. The HR team was saying to me
the other day that it's twice as easy to get
into Harvard University than it is to get into rocket Lab,
and we're unashamable about that because we only hire the best.
But you know, when you put the best people in
a team together and throw resources at them, then you know,

(51:41):
that's when the magic happens. But it is a continual
throttle for us, like finding the best talent.

Speaker 2 (51:46):
Are you beyond the economy in that sense? You know what,
back here on Earth we're worried about tariffs and the
price of cost of living crisis and all of those
real world things. Does the space industry just keep on
being the space industry no matter what is happening in
the world.

Speaker 21 (52:03):
Pretty much? Actually, if you track the history of the
space industry, because the build cycles of the you know,
whether it's a rocket or a spacecraft, is so long.
It generally spans like like the you know, the ebs
and flows of the economy. Now, certainly, you know, from
from an entrepreneurial standpoint, the access to capital becomes great
and then it goes in cycles as well and then less,

(52:25):
but generally it does kind of span those larger macroeconomic things.
But if you look at the industries that are growing
the most, it's like AI in space and a few others,
so you know, there's there's there's no kind of there's
no kind of slack in the system.

Speaker 2 (52:41):
How have you kept control of the company in terms
of as it's grown bigger. You can't be everywhere and
be everything to everyone.

Speaker 21 (52:50):
Yeah, that that is that is the hardest thing, and
if I'm honest, I worry about that the most and
I've been probably spend the most amount of time is
just making sure the rocket Lab culture never change just
because you know, we've acquired six companies, and when you
acquire a company, you acquire a certain degree of culture.
So that's probably something I spend the most amount of
time on. And you can go to any one of

(53:10):
our businesses anywhere in the world and there's always a
KIWI sitting there in some level of some level of authority,
So you know that that that that's kind of one
way we do it. But but yeah, no, I think
I think that's that's something worths have to have to
work hard at.

Speaker 2 (53:25):
And is it true that Kiwis are different in terms
of work ethic their view of the world. That you
can spot a Kiwi and that's why a lot of
internationals like Kiwis.

Speaker 21 (53:34):
Absolutely But for the positive end, for the negative. You know.
The one thing that I'm always, you know, banging on
with Kiwis is that we just don't think big enough.
Like I can go to America and stand up in
a room and say I'm going to build a bigger
space company in the world and everybody cheers. I do
the same thing in the room in New.

Speaker 23 (53:51):
Zealand and everybody sort of goes, I don't know about that,
you know what I mean. So that's one of the
biggest issues that we have in New Zealand. Just like Saint,
bigger and be more ambitious and get after it.

Speaker 2 (54:02):
Yeah, well said, will you be with the company forever?
I mean business people, you know, you buy your cell,
you get bored out, whatever the case may. Will you
be with rocket Lab until you decide you're no longer
wanting to be with rocket Lab?

Speaker 21 (54:13):
Well, I think one or two things will happen, and
they'll take me out in a box, or somebody will
tap me on the show that shoulder hopefully and say
that I'm no longer effective and it's time to go.
That's probably the reality.

Speaker 2 (54:22):
Fantastic, good to catch up with you, appreciating congratulations on
twenty years. Supeter Beck twenty years of Rocket Lab fourteen
to two.

Speaker 1 (54:30):
The Mike Asking Breakfast Full Show podcast on iHeartRadio powered
by News Talks It.

Speaker 2 (54:35):
Be Hey, Mike, that man's inspirational. Thanks for having him on.
Great Pleasure, Mike. Great interview with Sir Peter Becky's bang on.
What a fantastic guy. His story should be the curriculum.
Peter Becker is awesome. I'm past fifty nine and I
want to be him when I grow up. Mike, I
cannot believe you didn't ask him about the asteroid that's
circling our solar system. We mentioned it briefly on the program.
What's it called thirty one AX or thirty one line

(54:57):
or thirty one B or whatever? Slash Atlas three, I
slash Atlas.

Speaker 3 (55:03):
It's not an asteroid.

Speaker 2 (55:05):
What is it?

Speaker 21 (55:06):
Well?

Speaker 2 (55:06):
Probably a meteor? Okay, but a meteor, Glenn? What is it?

Speaker 21 (55:12):
Well?

Speaker 2 (55:13):
It yeah, exactly. That's why I should have asked Peter
Beck that question.

Speaker 15 (55:18):
I know that a meteor becomes a meteorite if bits
of it land on Earth.

Speaker 2 (55:22):
Correct. What if I'd said to Peter Beck, what do
you reckon? He goes as far as we can tell,
And I've just been down in the Control Center. It's alien.
What if it said that? That would have been the
scoop of the year, wouldn't it? I missed it? Never mind?
Teened away from eight.

Speaker 1 (55:34):
The Mike Hosking Breakfast with a Vita Retirement, Communities News,
togs Head be.

Speaker 2 (55:39):
But it's tiven away from a bull talk. Constellation Cups
got exciting game for tonight series at two to one.
If we went again tonight, we've got to play off.
So sort of, I don't think we've ever done this before.
I may be completely wrong, of course, A bit McCausland
jury is the current silver offense head coaching is with
us a bit good morning, So there's to all things.
So let's as human be it of it's two all

(56:01):
and then you go again. Is this new?

Speaker 21 (56:04):
Yes?

Speaker 24 (56:04):
So it started last year. It is because there'd been
a number of times that this particular series, the Constellation Cup,
had come down to a two wall, and previous to
that it used to go on points four and against.
But for the last two years it's gone on a
series decider. So yeah, it's pretty a pretty grueling system,

(56:26):
a good opportunity.

Speaker 2 (56:27):
Why don't you just play best of five instead of
potentially living it at too all.

Speaker 24 (56:32):
Yeah, that is another option, and I think they did
discuss that between Netball Australia and Netbull New Zealand, and
one of the factors was the cost to run another
another game and which country would have it, who would
have the three? But I guess you could just alternate
year on year off who had the three and who
had the two.

Speaker 2 (56:49):
Well, we've got to get to all first. How confident
going in that you're going to make it to all?

Speaker 24 (56:55):
Got to be confident, man, It's going to be hard work,
but really confident based on the fact that they know
the way they've played the other night, They've got the
potential there. Certainly for us that's you know, to replicate
that's not easy, but certainly is a possibility. So you've
got to win first to then create the two two
two and then go into the series deciders.

Speaker 21 (57:15):
It's like having the fifth game. Really.

Speaker 2 (57:16):
Yeah, I'm interested that none of the games. Once again,
correct me if I'm wrong, but I think I'm right
saying none of the games have been close, and normally
netball can be closed. What's happening here, do you think?

Speaker 24 (57:26):
Yeah, but in each of the games, we've obviously had
a quarter each where it's been blowing out. So it's
been reconably close across three quarters, but one quarter has
been significantly different. And that again applied on Sunday night
when we beat Australia. We had one quarter that was
a big blowout. But yeah, look, sometimes it just gets away.

(57:47):
One of the things is when you share the center pass.
You know right now it should be a draw as
you just scored your own ball, but you just get
one or two eras and that becomes fourth for the opposition.
It can blow really quickly, so initially staying in touch,
so getting turnoverboard can blow quick.

Speaker 2 (58:03):
Yeah, exactly. So you get to two all you win
the playoff. As far as the thing goes coming back
from two nil down, that's got to be right up there,
doesn't it.

Speaker 21 (58:13):
It's right up there.

Speaker 24 (58:14):
Certainly, right up there. So that's our big focus is
as much as we're thinking about the fuel today, the
ability you know, in the last two days to recover
quickly and be physically ready for potential overtime because the
first tonight's match could even go to overtime in that
game itself, and then if you're win that overtime, you've

(58:35):
still got to go to the series deciders that are
two separate overtimes.

Speaker 2 (58:38):
And so well that's where the fitness comes in. It's
where all the preseason training, the stamina, the determination, the
middle of the top two percent comes in a bit, totally, totally.

Speaker 24 (58:47):
The top two percent will be a big part of it.
Everybody's physically capable, everybody's got great skill set across both teams,
and so it will come down to a fair amount
of will and share desire.

Speaker 2 (59:00):
Well, we wish you all the very best. With a
vit McCausland Drury who's doing the business. She's the hero
of this whole story of course, because of course Wendy happened.
Then they needed a coach and she was the one
who stepped in and saved them because they didn't have
a coach that couldn't participate in the Constellation Cup, and
I am led to believe that getting a coach might

(59:21):
have been an issue for a period of time there
So she turns out to be the hero of the story.
Good luck to hear Mark Mitchell, Jinny Anderson Politics Wednesday
is but moments away.

Speaker 1 (59:32):
Asking the questions others won't the mic asking Breakfast with
the Defender embraced the impossible news talks that'd be.

Speaker 25 (59:41):
They all knew the magic number, but whether the kids TV.
This is where she paused the streams and slips into
someone's scream. She's on ter all cards and Jeff simmons.

Speaker 2 (59:56):
That she's back. It's another one of these. I did something,
then I didn't do anything for a long period of time,
and then I did something again. So it's four years
between albums. She did do that Elton John thing. I
think was that last year or was it earlier? This
ye can't remember. It's Brandy Carlyle. She then, once she
did Elton John, flew to her friend's house in New York.
He was in upstate New York, and he locked her

(01:00:19):
in the barn which was furnished, which was useful away
from everybody, and she sort of did her thing, and
she came up with this, which is called returning to Myself.
The only other fun fact I can include is that
has the Moog synthesizer that belonged to David Bowie. Now
you can hear that, Oh you can hear it. That's good.

(01:00:43):
So we got ten tracks in thirty three minutes and
fifteen seconds worth of Brandy a minutes past eight, it
is time for Politics Wednesday with us Jenny Anderson and
Mark Mitchell. Good morning, good morning, good morning, Good morning, Mike.
What did you?

Speaker 12 (01:00:57):
Good morning TVA.

Speaker 2 (01:00:58):
Now, I won't all the listeners with all of this
fine detail because because it's basically your fault, Mark, as
we were going to we were going to have you
both in the studio because Ginny wanted to announce this
morning that she is the leaker of the information done

(01:01:21):
and so she wanted to come she wanted to come
clean on that. She just wanted your present for it.
But you worry you this morning. Are you still handing
out taxpayers money to help the the wind blowing and wet.

Speaker 22 (01:01:32):
Yeah, I'm still down the South Island here as in
terms of you know, Southland and and Cluth are still
in a local state of emergency. There's still a fear
bit going on down there in terms of the response
and recovery, supporting in particular our rural sector and farmers.

Speaker 2 (01:01:46):
Okay, well we'll forgive you for that because the weather
beats this program.

Speaker 11 (01:01:50):
Now, thank you.

Speaker 2 (01:01:50):
A couple of quick questions for you, Ginny, if you
can on the capital gains tax, if it was it
asked yesterday, and I don't know. I don't think it was.
Is there a past, iron guaranteed, rock solid, don't dick
me around with the answer. Answer to this is it.
It will not be changed, interfered with, adjusted in any way,

(01:02:14):
shape or form as long as Hipkins's leader.

Speaker 12 (01:02:17):
That was very clear in the press conference yesterday, Chris
Hopkins said that this is the policy that we are
taking to the election, and this is the policy that
will be implemented if we are the government.

Speaker 2 (01:02:28):
And if you wanted to change it, you would go
to the people again. If you won in twenty six,
you would go in twenty nine.

Speaker 12 (01:02:34):
That's exactly right.

Speaker 2 (01:02:35):
We've been an adjustment. How angst ridden has been the discussion,
hence the leak over wealth slash capital slash camps within camps.

Speaker 12 (01:02:43):
It's been a thorough process, and we have lots of
layers within the Labor Party where we talk and understand
those issues. But we've firmly landed on a capital gains
tax in the most simple form because we believe that
that's the best way to make our economy more productive
than what it currently is.

Speaker 2 (01:03:00):
Can you if I wrap my properties up in a
business and you're not taxing the gains of a business.
Is the business then open to a capital gains tax.

Speaker 12 (01:03:10):
Whatever you put your property in can't hide it if
you're selling it for a profit. So, whether that's a
family trust or some sort of other structure, if it's
an extra property to the family home and you sell
it after the first of July twenty twenty seven, you
will pay tax on the profit you make.

Speaker 2 (01:03:26):
Okay, Mark, would you repeal it and flip it? Yeah?

Speaker 22 (01:03:30):
Absolutely, This is make no mistake. This is a trojan horse.
As soon as I saw the announcement, I mean, Chris
Hipkins two years ago said we won't have a capital
gains tax. Now they've got a capital gains tax. This
is a trojan horse. Of course, they want to come
after farms, they want to come after residential property. And
what they'll do is if they're in a position former
government next you with the Greens and to Party Mary,

(01:03:51):
they'll just say, oh, as part of the coalition agreement
Greens and too Party Mary, who of course we know
don't just want to CGT. They want a wealth tax
and all sorts of other taxes as part of that agreement. No, sorry,
we're going to have to go after you resident, your
homes and your farms as well. This is an absolute
trojan horse, without a doubt.

Speaker 2 (01:04:09):
What is that possible, Ginny, It's not possible.

Speaker 12 (01:04:12):
I mean, I'd like to go back to we think
what the problem is, and I look back and I
think New Zealand post World War two number three. I
think four in the OECD for our earnings, our product productivity.
Now we're sitting right at the bottom of the third
for those rankings. And if you ask me what, there's
one single thing that's caused us to drop that far.
It's the fact that we've been largely buying and selling

(01:04:33):
houses off each other.

Speaker 2 (01:04:34):
Right, okay, but.

Speaker 22 (01:04:35):
Yeah, thanks, thanks thanks to labor. Because you borrowed way
too much money. Inflation went through the roof interest rate.

Speaker 12 (01:04:42):
It's nothing to do with that.

Speaker 22 (01:04:44):
It is absolutely it's everything to do it. We get
into the cycle where you guys come in, you borrow
a whole lot of money, you splash it around. We've
got nothing to show for it. We have to come
in and actually tidy things up, get the economy going again.
And the problem is every cycle that we do, you
do more damage each time we go through.

Speaker 2 (01:04:59):
To be fair. The thing about this is that there
is a good ideological debate coming in the election campaign,
so you can argue it and you can make up
your mind. But to go back to that coalition point
that Marks made, so there is absolutely no chance of
the Greens amending your policy in any way, shape or
form within the coalition agreement if you were in that position.

Speaker 12 (01:05:20):
We've been very clear on that. Barbara Edmonds will be
the Minister of Finance and it is this model that
we will be implementing.

Speaker 2 (01:05:26):
That would be a bottom line. Absolutely, so it may
well be sorry mate.

Speaker 22 (01:05:30):
Yeah, basically she's just said right here and now that
Labor will not negotiate with the Greens or to Party
Mary around any CGT or tax or any economic policies.
That's what she's saying. That is complete. Who's going to
believe that it is absolutely rubbish? Of course, that is
what MMP is, jinny, is that you have to make

(01:05:50):
compromise and concessions.

Speaker 11 (01:05:51):
That is how it works.

Speaker 22 (01:05:53):
You don't get to say you just come out clearly
and said no, there's going to be absolutely no compromised.
So that's your position.

Speaker 2 (01:05:58):
Well, you can have bottom line, it's brief break more
in a moment, Jinny Anderson, Mark Mitchell thirteen past.

Speaker 1 (01:06:03):
The Mike Hosking Breakfast Full Show podcast on iheartradiow By News.

Speaker 2 (01:06:08):
Talksp News Talks at A sixteen minutes past six. Just
for public declaration. By the way, Jinny Anderson is with
us in the studio. Mark Mitchell's with us as well.
Just this is for the record. Ginny brought me a
gift which I which I am now declaring it's under
Oh that's disappointing. I'll give it away.

Speaker 4 (01:06:28):
Ah.

Speaker 2 (01:06:28):
So Jenny brought me a gift, So I'm just a
clearing that for everybody.

Speaker 12 (01:06:32):
But well, can I say where it's from?

Speaker 2 (01:06:33):
You can say is wrong.

Speaker 12 (01:06:35):
It's from Labella Italia, which is a wonderful little business
in the TONI that does one.

Speaker 2 (01:06:40):
I'm from Wellington. Oh no, that's that's that's not necessarily
break in Auckland. We have shops that sell wine. Ah right,
also from Italy.

Speaker 12 (01:06:48):
I don't know where they are.

Speaker 22 (01:06:49):
Thought I thought it was going to be act if
we're in sweat beans to.

Speaker 2 (01:06:52):
Go, I'm going to get to.

Speaker 22 (01:06:58):
The problem is the hot your place, Theusginna. They got
to put their prices up because they've got your text.

Speaker 2 (01:07:04):
I don't want to think about you and hot yoga anymore. Now, look,
there's there's a report weird out. Normally I've got some
time for the New Zealand Initiative, but they put out
this celebrating I don't know that's the right word, celebrating
thirty years of MMP. So there's reports out this morning.
They want to extend the parliament to four years. Ginny,
you would say that's fair enough, wouldn't you. I think
you're a fan of supportive of four years.

Speaker 12 (01:07:25):
I think free is not long enough to implement long
term change.

Speaker 2 (01:07:28):
Okay, and Mark you you're with four, weren't you? Didn't
you say you were with four? Yeah?

Speaker 11 (01:07:32):
Support?

Speaker 2 (01:07:32):
Okay, so four? But then they go, what we need
are more MPs. We need to go from one twenty
to one one seventy definitely.

Speaker 12 (01:07:41):
Not yeah, and that's a lot, it's a lot of emp.

Speaker 2 (01:07:48):
Well, if the building, Ginny could that's that practical thing again,
isn't it? So say they could take one seventy would
you want to what's the point? I can't see the
point of one twenty.

Speaker 12 (01:07:57):
Well i'd have to see the breakdown and see what
they do. But I think the general public whatever a
problem with paying that much money for more MPACE.

Speaker 2 (01:08:05):
I would have thought so, Mark Overhang, seats would be scrapped.
Would you go along with that? Yeah, I would. I
get a lot I'd get rid of. That's just me personally.

Speaker 22 (01:08:13):
It's not a party position, but just me personally. Yeah,
because I'd rather go the other way. I think we
need I don't think it would impact the country at all,
as if we had less in peace.

Speaker 2 (01:08:22):
No in set of more exactly, And they want the
executive to go from twenty to fifty? Is there any reason?
Is there any reason?

Speaker 22 (01:08:31):
That's crazy?

Speaker 2 (01:08:31):
Well, it's in the cabinet. So you're happy with twenty
or twenty eight or whatever the number is at the moment,
or could you do it with fifteen?

Speaker 22 (01:08:38):
It feels about right at the moment. Yeah, But I
mean all these things should be on constant review, but
now it feels about it right at the moment.

Speaker 12 (01:08:44):
What about you, Jinny, I think that would be You know,
I've sat in that cabinet room and these robust discussions.
I can't really imagine how they would be more productive
with more people around the table. I mean, yes, you
might have the benefit of more people being represented or
more parties. But I don't know. Yeah, I can see
that bank scraped O the hang. I'd like to know

(01:09:05):
how they do it. Then, how do they adjust it
when we get these situations?

Speaker 2 (01:09:08):
No, the Murray party being the classic over Yeah, so if.

Speaker 12 (01:09:11):
They've got a better solution to that, I'll be interested
to know what it is.

Speaker 2 (01:09:14):
Do you worry also about that? They argue the integrity
risks around what they're calling their special boats. So the
number of special boats is exploded and there's some sort
of quote unquote integrity risk. Do you see that or not?

Speaker 12 (01:09:26):
I think the integrity risk is this government telling people
that they can't enroll to vote in the early voting period.
That really undermines democracy in New Zealand. That's more of
a concern that aside.

Speaker 2 (01:09:36):
The political point that aside. But I mean the votes
a boat. I mean, we're not worried about votes in
this country being RIGGEDAWI.

Speaker 12 (01:09:42):
Or are we We want to make it as easy
as possible for people to vote, but we want to
make sure that the Electoral Commission is adequately resourced to
be able to make sure that they can hold their
heads up and say it was done right.

Speaker 2 (01:09:52):
What about you, mate.

Speaker 22 (01:09:53):
I just think that you know, we've made major sacrifices
as a country, as a nation to have the open
to mocks that we have. We should be very proud
of it. And if you want to vote, put a
little bit of effort into it, show that you're actually
prepared to get out there and get registered before the
election instead of waiting around and have everything handed to
you on a silver platter. This is classic socialism where

(01:10:14):
they want everyone dependent on the government have a little
bit of personal responsibility. Get out there, register and vote.

Speaker 2 (01:10:19):
Final question for both of you didn't get enough coverage
in my humble opinion, but Winston was at the Oxford
Union over the weekend and you argue that the New
Zealand courts are undermining democracy. Jinny, are they?

Speaker 12 (01:10:30):
I don't agree with that at all. I think our
courts are part of our democracy. They keep government in
check and they're part of our system, and they work together.
One doesn't override the other. They're part of the same
system and in fact they support an encourage democracy.

Speaker 22 (01:10:45):
Okay, Mark, Yeah, I mean, ministers, we've got to be
very careful about criticizing jud all specific court decisions. However,
as a government. We've sent some clear messages that we
don't agree with trends that have been emerging, like large
discounts at sentencing. I've seen us cap those at forty percent.
I just think that, yes, it's a very important that
there's a separation, but there's also it's comment upon the

(01:11:07):
judiciary to understand what the intent of the government is
when they pass legislation. And I'm going through we're going
through this process right now with gang picture has been
given back to gangs and the police having appealed that decision.

Speaker 2 (01:11:19):
Oh, actually, before I forget quick questions, someone Chambers was
complaining yesterday that he would have expected a phone call
from the Northern Territory guy who's back in raiding our police.
Why is that a thing? If they want to come
and hire people from your why can't they.

Speaker 22 (01:11:32):
They've got major problems in Australia with recruitment and retention
and they see how police officers has been world class,
which they are. That's good and that is why they
come here. We've launched our own little campaign to bring
police back and some are starting to come back.

Speaker 2 (01:11:45):
So you don't have a problem the Rginia. If they
want to recruit they can recruit coming.

Speaker 12 (01:11:50):
You can't really stop them, but we can stop it
by paying them more like if they're starting police officer
who put their life on the line next day got
paid more than sixty five thousand dollars a year that
we will to be at rest.

Speaker 22 (01:12:00):
I would love to Jenny, I would love to play
pay our police officers war. You go out and borrow
so much money that we're paying nine billion dollars an
annual interest.

Speaker 15 (01:12:09):
So if you stopped, we had a.

Speaker 12 (01:12:11):
More productive comment whereas we're doing great, we're doing great,
we'll break three.

Speaker 22 (01:12:16):
So you're so you're kepul Gains Texas.

Speaker 12 (01:12:19):
We just said the same stuff again and again. We'll
all be in the national Party.

Speaker 22 (01:12:22):
We don't want there, so we want c g T
wealth text and all the rest of the reality. Is
this why you cannot trust Chris Sippins one.

Speaker 12 (01:12:31):
We've got to do it definitely, make you know it's broken.
Leaving taken off and plan a day come.

Speaker 19 (01:12:38):
It was.

Speaker 12 (01:12:41):
What everyone wants to here. We need to change eur future,
give our kids to hear in.

Speaker 2 (01:12:45):
New Zealand were fighting for. If you've been drinking the
multiple mark, nice to see you and Jenny good to
see you and appreciate your coming as well. See you
next week.

Speaker 1 (01:12:56):
The Mike Hosking Breakfast with the Defender and News togs
Head and a.

Speaker 2 (01:13:00):
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that's resonatehealth dot co dot nz where better hearing starts
with trust I eight hundred seven three seven sixty six
two lasking. Chinese are trying to regulate the net, so
in first blush new regulations requiring influences who are discussing
pational topics to hold formal qualifications in those fields. Content

(01:14:04):
creators addressing medicine law, educational finance must provide proof of expertise,
degree certifications or professional credentials. Creators must clearly state wheen
and where the information comes from and where they studied
their particular of a good speciality. Seems not unreasonable given
what you read online on any given day, doesn't it
news for you in a couple of moments. Then Now

(01:14:25):
lot's going on in Australia this morning, and Steve Price
is the main for us. He is next here on
the my Casking Breakfast.

Speaker 1 (01:14:32):
Tough on Power, Sharp on Insight, the my Casking Breakfast
with Bailey's real Estate finding the buyers others can't use
TODs dead b.

Speaker 2 (01:14:41):
Quite interesting in terms of it. I often talk about
it on the program that we talk about you know,
the food prices go up and ever and goes Oh
I god, food past has gone up five percent. We
talk about inflation around food and things like that, how
inflation affects each and every single one of us varies,
and this is why the stats do what I think
is an invaluable service, and that came out yesterday. The
latest SIPT TEMP quarter numbers came out yesterday, and so

(01:15:02):
the average New Zealand household is experiencing two point four
percent of inflation. Now, the value of that as inflation isn't,
of course two point four percent. It's higher than that,
and on the last quarter it was three percent. So
we're actually you and I in general, on average, are
doing better than the overall inflation because that's inflation is
a very individual sort of experience. Because our inflation number

(01:15:24):
includes the fifteen and a half percent drop in mortgage
interest payments, So if you're into mortgages, you are materially
better off, and therefore your your inflation story is better. Again,
but then they break it down further and the highest
spending households in this country actually have an annual inflation
rate of zero point eight. Now, the value of knowing
that number is it goes some way to explaining a

(01:15:46):
couple of things. One, the highest spending households, of course,
have the money, and they've got the jobs, and they're
out there in the economy so every time you see
something in the economy, you go, well, what a minute
that that restaurant was absolutely full of Well, wait a minute,
I saw a business class on the planet. It was chocolatelock.
Everyone was in Europe for July. That's those people, because
they're doing well, they're doing better three point nine percent
for supernuitants, though beneficiaries at three point four percent, the

(01:16:09):
lowest spending households and at four percent, So that's a
material difference. The lowes spinning household has four percent inflation,
the high spinning household has zero point eight. And part
of that equation is rents. Rents increase two point six percent,
and rents make up twenty nine let's call it thirty
percent of beneficiary household expenditure. So if your main expenses
are going up and there's nothing much you can do

(01:16:31):
about it, that's where your inflation comes in, whereas it's
only five percent for the highest spending households. In other words,
not many high spending households rent, but those who do
can afford it more easily. So overall all households two
point four, beneficiary three point four, supernuitants three point nine,
the richest zero point eight. The lowest expenditure households four percent,

(01:16:53):
So it's a huge variation and every story is individual
twenty one to nine asking why.

Speaker 16 (01:16:58):
Let's international correspondence with ends and eye insurance, peace of
mind for New Zealand.

Speaker 2 (01:17:03):
Business, our old makes place with us.

Speaker 11 (01:17:05):
Morning to you, good adam.

Speaker 2 (01:17:07):
Now we have gone through this a lot in this country.
So is this story that you're about to tell us
new and if it is, is their outrage in Melbourne
in the hospital and indigenous patients.

Speaker 11 (01:17:20):
Yes to all of those questions. And it was a
story that was first revealed by the Heraldson newspaper in
Melbourne yesterday. Involved in Vincent's Hospital, one of the biggest
hospitals in Melbourne. It has a public and private arm
and it was discovered that if you turn up in
the emergency department, so this is not just turning up

(01:17:40):
to have a check up. If you're in the ED
and you tick a box saying you are identify as Indigenous,
then that hospital has a policy in official policy to
treat all Indigenous patients within thirty minutes of their arrival
and putting them ahead in the queue. So you all
turn up as stage four then triarged, and if you

(01:18:01):
stay at stage four you sit around waiting to get treated,
but if you get ticked off a stage three then
you get seen within thirty minutes. Well this has just
caused complete outrage. I mean people here presumed me included
that if you are sick enough to go to an eed,
you are treated based on how badly off you are,
how sick you are, or what your wound is, you've

(01:18:22):
broken arm or whatever. It turns out that that's not
the case. And this is put to the Premier yesterday,
and I would have thought she would have said, oh no,
it's beat up. It's not true. It's not happening everywhere.
She actually defended it. She labeled the initiative quote a
good example of hospital leadership improving processes to get better
outcomes for particularly vulnerable groups. Now this shouldn't surprise me,

(01:18:44):
I know, but it has. And Victoria, of course, this
week in Parliament will pass their treaty negotiations with Indigenous Victorians.
That will be the first time that there will be
an official treaty that it will be signed in Australia.
And of course this is all in a country where
we had a referendum about creating a second voice to

(01:19:05):
part it the people that know. Laura Mundine was one
of those who led that campaign against the Voice. He said, look,
we aren't asking for anything other than to be treated
like everyone else. He's an Indigenous man, clearly, I'm just horrified.
He said it should be needs, it should be about emergency.

Speaker 2 (01:19:21):
It's amazing. I'm surprised it's taken so long to get there.
So I take it this is state only, not federal.

Speaker 11 (01:19:28):
Yes, but the states run the hospitals. I think what
we'll ultimately find out is that in some other states
this is happening as well, and I would be surprised,
very surprised if it's not happening at other hospitals in Victoria.

Speaker 2 (01:19:41):
We've had the same thing in this country for years
and it's caused any amount of angst. Part of the
argument is they for New Zealand, the previous government, the
Labor government, argued that it was part of it. They
never got around to explaining it properly because there is
no way of explaining it properly. But part of it
was the rural access to health. So a lot of Maori,
for example, live rually and if you live rually you

(01:20:01):
don't get the same sort of access as you might
in the city, but it still doesn't negate the race
based thing. But I can't work out how that would
apply to St. Vincent in downtown Melbourne exactly right.

Speaker 11 (01:20:12):
And so look, the discoverment's not for changing that. And
as I said, I think we'll find out that it's
much more widespread than we knew.

Speaker 2 (01:20:19):
Well. And then while we're on your progressive government, so
they're going to double the cost of registering cats and
dogs from one to.

Speaker 11 (01:20:26):
What can you believe this? They are so broke that
some bureaucrats sat around and said, oh, I know what
we should do. According to the twenty twenty three Victorian
pet sensors who knew there was such a thing, there
were two point two million cats and dogs in Victoria

(01:20:47):
and they live in one point four million dollar one
point four million homes. And so the government has decided
that they're going to double the registration fee from JUI
next year. That will rake in ten million dollars for them.
And so the registration fee for a cattle or a
dog will go from four dollars fifty one a year

(01:21:08):
to nine dollars for cats and dogs, but surprisingly registration
fees Mike for greyhounds will double, but they only have
to pay seven dollars, so some reason we're looking out
for the greyhounds.

Speaker 2 (01:21:21):
So speaking of greyhounds are not necessary. But the punter
to how close would what would they won?

Speaker 11 (01:21:29):
This is an extraordinary story. New Zealand punter on the
thirtieth of January at the New Zealand at one of
the enztabs, places a seven forty one dollar bet on
a twelve leg multi the odds of him winning this
when he put it on ninety eight, eight hundred and
fourteen to one, he has got the first eleven legs

(01:21:54):
of this maulti. And if Bukaroo which is running in
the Melbourne Cup next Tuesday, and this is where we've
got to put money on Buckeroo. If Bukaroo finishes in
the top three of the Melbourne Cup, no way, your
punter in New Zealand will win seven hundred and thirty
two thousand, two hundred and sixteen dollars. And of those

(01:22:17):
twelve legs that he had to get in, he's had wins.
At is it to Rapperace Course, New Plymouth? He had
Kaying rising in the Everest in Sydney via Sestina in
the Cock's plate and he's going to win almost three
quarters of a million dollars if good old Buckaroo trained
by Chris Waller, and it's a good chance.

Speaker 2 (01:22:40):
That was one of expresses a couple of so just
he puts seven forty one on, he's going to get
seven thirty two back potentially correct. Wow, and Bukaroo you
think is a chance for top three?

Speaker 11 (01:22:52):
While I was talking it up yesterday at the preview
of the Melbourne Cup and Buckaroo on the weekend finished
reckoned by a nose in the Cox.

Speaker 2 (01:23:02):
Plot, Wowls's all right, go well, we'll see you next week.
Preciate it very much. Deeprice Out of Australia eight forty
five The.

Speaker 1 (01:23:09):
Like Asking Breakfast Full Show podcast on iHeartRadio powered by
News Talks at b.

Speaker 2 (01:23:15):
The other thing, I'm being trapped into this. I got
PTSD on these clowns. So anyway, if you didn't hear
it around certain parts of the country, there's a promo
where Heather interviewed Chris Hopkins yesterday who didn't appear to
understand his own policy. And I go back to what
I said yesterday and it wasn't covered. The only coverage
I saw and this is Valuation Day, whatever the hell
that is. The nearest I got to it yesterday was

(01:23:37):
apparently it's all in the Tax Working Group paper. There
are options in the Tax Working Group paper, but no
one outlined what they were. So on the magical day
of one July twenty twenty seven, you go value whatever
it is you own on that day and agree to it.
Also that in the future when you sell that they
can CGT it. By the way, we've looked up Bukaroo
bucker A couple of interesting things about Buckeroo. It's nine

(01:23:59):
dollars went to a place. It's fourth favorite. Perhaps more importantly,
at the stages fifty to fifty to even take part,
it's like me saying I might be here tomorrow, I
might not, so you think and hold on.

Speaker 13 (01:24:11):
Yeah, that's pretty much how I feel every day.

Speaker 2 (01:24:13):
Well, there you go a couple of things out of
Australia real quick. That I didn't have time for Stephen.
We might get to with Murray on Friday they started
officially got released Tony bough Burke, the Home Affairs Minister.
First transfer to NARU took place last Friday, so this
is the deal that Australia's done with NARU. The court
in Australia said, these people that are here illegally, you
can't keep them in jail. You've got to do something

(01:24:35):
with them. So what Australia's decided to do with them
ship them off to NARU. First one happened on Friday.
That's controversial. The other one is there's another one of
these minds. I'm counting three. One was the steelworks Wayala,
remember before the election in Australia and Wale got into
trouble and there was a mixer either one all truism
by the government to save a business and two it

(01:24:56):
happened to be in a strategic part of Australia, hence
they gave them money. But there are more and more
of them. The latest examples Natluminium Smelter to Margo. It's
owned by Rigo Tinto, and they say, given the way
things are at the moment in terms of renewables, pathway forward,
our contract expires the cost of power in twenty twenty eight,
we cannot see a future for the business and we're

(01:25:19):
going to close it down unless something can happen. So
the pressure is now on the government to start bailing.
So I don't know whether that's going to start to
be a thing. Once one domino falls, they all start
to fall. Nine away from nine, the Mic.

Speaker 1 (01:25:31):
Hosking Breakfast with Bailey's Real Estate News togs.

Speaker 2 (01:25:34):
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(01:26:40):
dot com. Asking, are very excited to be able to
inform you just updated the New Zealand share market. This
very company in New Zealand me this is a very
good sign. Of the reason I tell you this is
they were doing better than we thought, so we've needed
to tell the share market about that. We were thinking
that the twenty twenty five financial year, the Yebadah would
between fifty seven and fifty nine million. We now think

(01:27:01):
it'll be between fifty nine and sixty two million, which
if we strike the midpoint of those two figures, are
going to be up twelve percent on last year's result.
Up twelve Part of that is signs of recovery across
the economy. I'd call it a flicker. I'd call it
a green shoot five minutes away from nine.

Speaker 6 (01:27:23):
Trending now with Chemist Warehouse celebrate big Friends and biggest
savings Now in Barcelona.

Speaker 2 (01:27:30):
This is where I'd go. Actually, if I if I
owned a phone company and I was launching some stuff
for my phone, I'd go to Barcelona any others were
Oppo's gone. So the X nine and the X nine
Pro has been unveiled for the first time.

Speaker 20 (01:27:44):
It's not just another smartphone. Building on fine access tradition
and imaging, Fine X nine series delivers a camera that
is generations ahead of the competition, along with a huge
sleep and performance.

Speaker 11 (01:27:57):
And battery life.

Speaker 20 (01:27:58):
Yes, all wrapped up in a brand new and elegance design.

Speaker 2 (01:28:03):
So exciting. So the Fine X nine Pro that's the flagship.
Early reviews. What can I tell? Your camera and processor
stack up with the best from Apple and Samsung, outperforming
them in some tests. Battery huge battery. I don't know
how these things are measured, but the battery on the
oppos seven and a half thousand, whereas the batteries on

(01:28:25):
the S twenty five Ultra and the iPhone seventeen Promacs
are only five thousand. So five thousand, seven and a
half thousand Sabusha battery one. Mine's five thousand, one mine
seven and a half thousand, So that's how it goes.
That means that it can last you two days, which
is quite good. Now it goes on sale here at midnight,
which is even better because normally what we do, as
we say, it won't be available to a pre order

(01:28:46):
for three months in advance. So this one goes on
sale at midnight, and it comes disappointingly in limited colors
only titanium gray or silk white. Silk white can be nice,
but it gets grubby, so I'd go titanium gray. The
the S nine and the well, which one is?

Speaker 18 (01:29:08):
Is it?

Speaker 2 (01:29:08):
From twenty five to nine to nine?

Speaker 21 (01:29:11):
No?

Speaker 14 (01:29:11):
No, there's just one.

Speaker 2 (01:29:13):
What what about that? You're telling me? The excellent in
the pro of the side?

Speaker 14 (01:29:16):
No?

Speaker 1 (01:29:16):
No, sorry, the the fine X nine normal one is
off the top of my head nineteen nine, So the.

Speaker 2 (01:29:21):
Top of the line flash is twenty five nine to
nine from midnight and titanium gray. Look at the size
of my bread streets back tomorrow morning from six as always,
Happy Days.

Speaker 1 (01:29:36):
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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