Avsnitt
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Some questions for you around the Reserve Bank and their funding.
Firstly, the Finance Minister is to be congratulated on her handling of the fiscal matters in reducing the expenditure by 25% – this is a DOGE like achievement.
In fact, if you have been following DOGE, what they said they would do and what they have done is like a lot of the Trump output so far, mainly hot air. So in fact, Willis leaves them somewhat in her dust.
Then came the revelation from the cabinet papers that a lot of the extra money the Reserve Bank had got hadn't been spent... this is possibly referred to as waste and was a good insight into how Adrian and Grant ran the place.
But despite the fact it hadn't been spent, all of a sudden just before Nicola came along, it did get spent. Budgets in areas like people and tech info and data were spending like drunks.
So clearly Willis has seen their scam, called their bluff, and got her way. Good on her.
But the bigger question is this, with all that money, tens of millions a year, were they any good, and did that money buy good results?
Were good people doing good work?
Well history shows us obviously the answer is no.
Our Covid response is now widely seen as inept. Our three recessions, the outworking of a complete and utter cock up when it came to handling a financial crisis.
We have smaller issues still at play like the reserves for commercial banks, an out working of the OCR paranoia.
For all that money we seem to have employed a Central Bank that did worse than most, to this day Treasury —and this might be on Treasury not the Reserve Bank— cannot work out the value of all that money flooding into the economy. What did it do? What was its value?
If they can't work it out, did the Reserve Bank know going in or were they panicked and flying blind?
Why did they give that free money to the banks with no restrictions on what happened to it next? There remain the unanswered questions years later, the out workings of which we economically are still paying for.
So the 25% cut is one story, the other is what we got for our investment. How would you describe a return that bad?
And given it went to the inept, is 25% enough?
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Andrew Saville and Jason Pine joined Mike Hosking to reflect on all the sport that took place over the long Easter weekend.
They discussed the Warriors’ golden point win over the Broncos, a kick from Luke Metcalf allowing them to claim the win. Also on the agenda was the latest in Formula 1, Super Rugby, and Reiko Ioane’s sabatical location.
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Saknas det avsnitt?
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Organised crime syndicates could be seeking to infiltrate our sporting landscape.
The UN Office on Drugs and Crime has raised concerns about a global migration of crime into sport.
New Zealand's Sport Integrity Commission's working with its overseas counterparts and policing experts like Interpol to protect against corruption attempts.
Chief Executive Rebecca Rolls told Mike Hosking New Zealand has a few factors that makes it uniquely vulnerable to organised crime groups.
She says we're vulnerable to criminal betting schemes because our sport is streamed at times when there isn't much else to bet on.
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On the Mike Hosking Breakfast Full Show Podcast for Tuesday 22nd of April, we're still struggling to get our extra 500 cops, is fitness really holding new recruits back?
The Pope passed overnight – we get the latest out of the Vatican from our Correspondent with Edward Pentin.
Andrew Saville and Jason Pine jump in the ComBox and reflect on Luke Metcalf's kicking woes.
Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.
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Ferry and cruise passengers could be facing a new levy.
The Government is weighing up how to fund a permanent rescue tugboat for the Cook Strait, and a user pays system is on the table.
They’ve contracted MMA Vision to provide emergency cover in the meantime, but a long-term solution is still up in the air.
Maritime Union Spokesperson Victor Billot told Mike Hosking they’re happy to see the temporary measures, but there does need to be a long-term plan.
However, he says they’re unsure a user pays model is the right fit, or that it would be easy to enforce.
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Crowds are gathering to mourn following the death of the Pope.
The head of the Catholic Church died overnight at the age of 88, following a stroke, coma, and subsequent heart failure following a battle with double pneumonia.
Nine days of mourning is now underway before his funeral and his burial at Saint Mary Major.
Newstalk ZB's Catherine Field is in Paris – one of many parts of the Catholic world now mourning the Pope's loss.
She told Mike Hosking while Francis divided opinion in Europe, everyone agrees he was a man of humility and compassion.
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Prime Minister Christopher Luxon has met with King Charles III at Buckingham Palace in London, just hours after the death of Pope Francis.
Luxon confirmed he spoke to the King about the death of the Pope during his meeting, but would not divulge further details.
A spokesperson for the Prime Minister said Luxon “enjoyed discussing New Zealand issues with the King”.
Luxon said discussions with British Prime Minister Sir Keir Starmer in coming days will revolve around the Ukraine-Russia war and trade.
He and Starmer will travel to meet New Zealand soldiers who are training Ukrainian troops.
“I certainly welcome any efforts around just and lasting peace for Ukraine … we’ll keep discussing options about being involved in peacekeeping support once the conflict concludes.
“We, as a small country with limited resources a long way away, aren’t going to be the ones to end that war, obviously … but, regardless, we stand beside our set of values which we think Ukraine, Zelensky, embodies.”
Luxon said trade would also be a hot topic given the UK had recently become NZ’s seventh-largest trading partner.
“We just need to keep pushing forward on it and keep pushing food and beverage and tourism.”
King Charles had a busy few days ahead of Luxon’s arrival, with various Easter-related events.
Late last week, he attended the annual Maundy Service, during which he awarded gifts to individuals in recognition of outstanding Christian service. Maundy Thursday takes place on the Thursday prior to Easter and commemorates the Washing of the Feet and the Last Supper of Jesus Christ.
On Easter Sunday, Charles was joined by other members of the royal family at St George’s Chapel in Windsor for a traditional church service.
In his Easter message, the King said: “The abiding message of Easter is that God so loved the world – the whole world – that He sent His son to live among us to show us how to love one another, and to lay down His own life for others in a love that proved stronger than death.
“There are three virtues that the world still needs – faith, hope and love. ‘And the greatest of these is love’. It is with these timeless truths in my mind, and my heart, that I wish you all a blessed and peaceful Easter.”
Luxon met with the King for the first time at the Commonwealth Heads of Government Meeting in Samoa in October.
The Prime Minister gave away little about what the pair discussed during that meeting, but said it was obvious King Charles had a “deep, deep affection for New Zealand” and was “very knowledgeable about a number of issues”.
“It was a very natural conversation; it was just the two of us sitting outside and having a chat on a couple of seats.”
This is Luxon’s first visit to the UK as Prime Minister. He touched down late on Sunday night (NZT).
Ahead of the trip, Luxon highlighted that trade was likely to be a key talking point.
“New Zealand is a champion for free trade, and I look forward to talking to Sir Keir Starmer about what our countries can do together to support the rules-based trading system,” Luxon said.
“The UK is one of NZ’s closest and most trusted partners, and, for many Kiwis, it is where they base themselves on their OE. The UK is also important to NZ’s prosperity. Our exports there grew by more than 20% in 2024 and are still growing.”
Two-way trade with the UK, which NZ signed a free-trade agreement with in 2022, was worth $7.27 billion in the year ending December 2024, making it our seventh-largest trading partner.
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The Associate Police Minister remains confident the Government's 500-cop recruitment target can still be reached by November.
Police bosses say they've been facing challenges.
They say more trainees are failing training, and more people have been leaving the Police force.
But Casey Costello told Mike Hosking there is still six months to go.
She says taking a monthly snapshot doesn’t provide a full picture and isn't helpful.
Costello says the morale of the Police is good, which is contributing to strong interest in joining.
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Prayer services are taking place around the world in memory of Pope Francis.
The head of the Catholic Church died overnight at the age of 88, following a stroke, coma, and subsequent heart failure after a battle with double pneumonia.
Vatican correspondent Edward Pentin says two weeks of rituals and ceremonies are now underway.
He told Mike Hosking that will begin with nine days of mourning.
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At the halfway mark, can we suggest things are starting to turn for the Government?
This week we have seen the Prime Minister at Ruakura with a multi-billion dollar investment that sells the Māori economy and showcases large amounts of foreign money, as well as the potential for huge productivity gains and economic growth.
On Monday there was more money for tourism. Tourism is coming back, it's too slow, but the tourist spend is up to post-Covid levels.
On Tuesday, Education Minister Erica Stanford was pumping more money into classrooms with savings made from the bespoke design nonsense and waste that the Labour Party trainwreck was in charge of.
Then the Prime Minister is back with the police and Justice Ministers, spruiking very good-looking numbers around victims of crime.
This comes on the back of three polls all of which show the Government being returned to office if an election was held today.
Slowly but surely specific bits are starting to fall into place. Things like the fact we had good GDP in the last growth stats.
Clearly from Tuesday's numbers, crime, which was as big an issue last election, is looking very much in a box. The gang patch laws are working with even the critics saying they're working. Surveys say people feel safer on the streets and the victim numbers look very good indeed.
Health remains an issue and there seems a determination among the unions especially to keep it on the front page.
But the key bits that sink or support Governments —the economy, education, crime and justice— look solid. If they can get health under control they will be rolling.
Obviously, the economic side is fragile and open to a lot of stuff that is beyond our control, so counting chickens is pointless.
On that note, you then come to this idea that’s gaining traction that the Trump fiasco could well be the making of our Prime Minister.
A bloke who has struggled to connect might well have settled nicely into his wheelhouse with an economic mess that could see the best of him shine when it's needed most.
If the polls play okay for them they way they do now, with glimmers of light, by the time we get to the end of the year momentum might well be theirs and an election may well be theirs to lose.
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At the end of each week, Mike Hosking takes you through the big-ticket items and lets you know what he makes of it all.
The Golden Visas: 7/10
Part of what's turning out to be a pretty solid run for the Government. There seems genuine interest from the wealthy to come and park up here and grow the place.
Business sales: 6/10
Demand is up, supply is down. People want to chart their own destiny, which is always a very good sign.
Coachella: 4/10
Most people who went borrowed money to pay for their tickets. Clearly no money left over for Golden Visas.
Andrew Little: 6/10
Given Tory Whanau's reputation and record, is it even a race?
The women on Bezos' rocket: 2/10
Brought new meaning to the term space cadets.
Taupo: 8/10
Shout out for last weekend and the Supercars. Place was packed, looked awesome and Matty Payne was your hero #NZAtItsBest.
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My fun fact of the week, not that it's that fun or even new, given it's been around if you could be bothered looking.
In Hawke’s Bay there are 56 mayors, chairs and councillors spread across five councils. Just for Hawke’s Bay.
Not Mexico City, or London, or New York. Hawke’s Bay, in little old regional New Zealand.
This is contained in an excellent piece well worth reading over the long weekend to be found on the Newsroom website.
Broadly it looks into amalgamation of councils. The good news is amalgamation is coming.
In my view it cannot come fast enough.
This small land is festooned with councils and boards and groups who do little other than add to inflation with cost, plus accounting.
The trick, and part of it is the Government's Water Done Well programme, is once they spin those duties out to new entities you won't need as many councils and councils won't have a ratepayer base to be able to afford stuff anyway.
But here is where it might go wrong:
1) Fiefdoms. Too many still argue they are more important than they are.
2) The Government says they won't enforce this change. They will act on the communities’ will.
Big, big mistake.
On the upside there is talk of as few as 13 unitary authorities. That would mean 11 regional councils gone. Good, do it as quick as you like.
We are grossly over-councilled in this country, with 67 currently. We have authorities for handfuls of thousands of people. It's absurd and that’s before you get to the quality, or lack of it.
The savings are huge, with $5 billion on the RMA side alone.
By the time you read the article you are left uplifted by the possibility that one of your more boring topics, local body representation, might, just might, be heading somewhere good.
My hope is if it does head somewhere good, we may at last start to pay attention to it, be invested in it and it becomes a virtuous circle of success, productivity and positivity.
And if that doesn’t fizz you up for a good Easter, nothing does.
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On the Mike Hosking Breakfast Full Show Podcast for Thursday 17th of April, the Government has announced a $20b plan to upgrade our health infrastructure, so now we need some action.
The Commerce Commission has pushed KiwiRail to compensate the victims of cancelled Interislander ferries.
Kate Hawkesby and Tim Wilson wrap the short week, and we deal with Kate's first boomer moment.
Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.
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The Commerce Commission says it'll take KiwiRail to court if it doesn't compensate ferry customers.
The rail provider's agreed to pay those disrupted in three Interislander cancellations in early 2023.
KiwiRail had previously treated delays and cancellations from mechanical faults as out of their control, which the Commerce Commission argued misled customers.
The Commission's Vanessa Horne told Mike Hosking KiwiRail should've taken action on its own accord.
She says good businesses get ahead of the game to ensure customers are cared for.
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A new electricity gentailer is entering the market with a primary focus on large-scale solar.
Lodestone Energy says it will initially focus on commercial and industrial sectors, but may expand if the market allows.
It says it’s creating it fifth solar farm with plans for up to 20 more in the next few years.
Lodestone Managing Director Gary Holden told Mike Hosking it scatters them in less-visible places like substation areas and behind hedge rows.
He says it has a vision for every community to have its own solar farm and battery pack.
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Donald Trump's tariffs are having ripple effects here and everywhere.
Infometrics is drastically reducing its GDP growth forecast from 2.6% to just 1%.
Many economists now expect the Reserve Bank to go further with OCR cuts than previously forecast, in spite of a likely rise in inflation.
Fonterra Chief Executive Miles Hurrell told Mike Hosking there will be some kind of global slowdown.
He says it will start in the US, where consumers are already feeling the impact of the tariffs, but any slowdown in the world's largest economy will ultimately be felt everywhere.
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Schools operating over their campus capacity are getting creative to cater for roll growth.
New data shows 17% of state schools had more students enrolled than their official classroom capacity last year.
Another 71% are operating at capacity.
Secondary Principals' Association president Vaughan Couillault told Mike Hosking packed schools typically put in more prefabs in the first instance.
He says they may also start to make classes bigger or use libraries and meeting rooms as classrooms.
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The Health Minister says their new $20 million health infrastructure plan is an answer to decades of under investment.
The list includes new projects and general maintenance, but has no timeline.
Simeon Brown told Mike Hosking the government will take time to engage with the private sector and see what they may be able to invest.
He says the plan won't be delivered overnight but gives a clear indication of what needs to be done.
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Increased global trade barriers —like Donald Trump's tariffs— are continuing to slow down New Zealand's economic recovery.
Infometrics is drastically reducing its GDP growth forecast from 2.6% to just 1%.
Many economists now expect the Reserve Bank to go harder for longer with OCR cuts, despite a likely rise in inflation.
ASB Chief Executive Vittoria Shortt told Mike Hosking many businesses don't know how they'll be affected by the global uncertainty.
He says confidence had started to reappear but is now dampening as things start going on hold.
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- Visa fler
