The Mike Hosking Breakfast

The Workplace Relations Minister hopes WorkSafe's incoming culture shift will show they're there to help, not hurt.   The Government's instructed the regulator to move away from enforcement and engage early to support risk management.  It starts with today's opening of the road cone hotline.  Minister Brooke van Velden told Mike Hosking businesses shouldn't have to sweat the small stuff.   She says there's a culture of over-compliance and too much paperwork, instead of a focus on the risk of death or serious injury.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Call me superficial, but to watch the Reserve Bank heavyweights lined up, as I did Wednesday post their cash rate decision, I did not see dynamism.  These people outwardly do not fill you with any sense of excitement.  The Reserve Bank is in a spot and, as a result, so are we as a country.  A couple of semi-interesting things happened and also one very interesting thing.  They voted 5 to 1 to cut. They don’t vote that often.  They also offered alternative scenarios, which they haven't done for five years. Alternative scenarios are not a good sign. If you have enough of them, you are literally making stuff up.  Anyone can drum up alternative scenarios. What I want to hear more of from experts is what is actually going on.  The important stuff is they have no bias on further cuts.  A lot of people thought we would get a cut yesterday, followed by one, possibly two, more.  The so-called "neutral rate", that's the cash rate settling at 2.75% or 2.5% – that now seems to be off the table.  Why?  They argue inflation, which is what drives them. That's their mandate.  The trouble with that is inflation is only just in the band. It's heading more towards the top of the band and here is the really big part – growth, or large dollops of growth, are not driving this inflation.  We are barely growing, if growing at all. Yet inflation is still a thing. That's not good for an economy and it's not good for the Government.  The Government, namely Willis and Luxon, leap, and have leapt, on each announcement talking about the money coming back into the economy as the interest rates drop. If the bank isn't cutting, then rates aren't dropping, and we aren't spending or feeling remotely bullish.  The Reserve Bank doesn’t care that much because they are fixated on inflation, whether it's driven by factors beyond our control —like insurance, shipping or councils— or growth.  Yes, we had growth in Q1. It was quite good growth too. The live GDP tracker has Q2 up a bit, but not much.  But it has annual numbers negative and inflation trending up.  What we need is help. We are in a quagmire we need to extricate ourselves from.  The Reserve Bank doesn’t look like they are that interested. See omnystudio.com/listener for privacy information.

Elon Musk’s time in the US Government has come to an end.    He's posted on his platform, X, saying the mission of the Department of Government Efficiency —or DOGE— will only strengthen over time.  A White House official has confirmed Musk's departure.  US Correspondent Richard Arnold told Mike Hosking there’s been mixed reviews about his work.  Musk was only able to find $9 billion in savings, despite his pledges to cut at least $2 trillion, which tech journalist Kara Swisher says means his efforts were a failure.   She says he did a lot more showmanship than he did work.  On the other hand, Trump aide Stephen Miller says what DOGE has done is “among the most valuable services ever rendered to Government”.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

I cannot recommend a piece of reading enough in the Listener, and reproduced elsewhere, on a longitudinal study that now spans 35 years and 12 elections.  It's gripping.  A couple thousand people each election are given dozens of questions.  Its weakness is some of the questions are vague enough to throw up responses around things like health care and public services. We like them and we want more, no surprises there. But how much more? What if the money is wasted?  We don’t get to know that stuff.  The David Lange Government of 1984 blew it big time, went way too far and upset too many people. I remember it well.  We love strong leaders. We are more socially conservative than you might think.  The electoral system doesn't represent what we actually want, or like. We like the death penalty, yet we've never had it.  There are two highlights for me: Labour's moves around Māori and introducing Treaty of Waitangi principles into some legislation.  The majority of us, decades ago, didn’t want it. We don’t have the 2023 results yet, but I bet you nothing has changed.  Which I would have thought would lead you to ask, why hasn’t it been fixed?  It's a bad idea that's been allowed to fester and cause ongoing angst and upset for decades.  Secondly, there are signs of increasing dissatisfaction, concern and unhappiness. The authors say it's not like the 90's.  I remember the 90's. It was Ruth Richardson and Jenny Shipley. It was welfare reform, the mother of all Budgets, the burning of effigies on Parliament grounds. You can see the edginess these days with similar discourse and protest.  But it's suggested political polarisation has declined over the past decade.  Really? Do you believe that?  I don’t. I don’t think we have ever been more divided and never been more stark in our views of the country and the world.  Social media, distrust, fake news, polarising views and stands – I have no idea how they've concluded this. Read it and see if you disagree.   But on most stuff, we haven't changed. The times change, the circumstances change but, broadly, we don’t.  I'm not sure if that’s good or bad. See omnystudio.com/listener for privacy information.

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.    Fonterra: 9/10  It is literally raining money. Record farmgate, record profits, and the milk price starting at $10 for next year. Go buy a ute.    Port of Auckland: 2/10  Everything that’s wrong with New Zealand – putting prices up because you can.    Auckland FC: 7/10  Falling when they did took the shine off, but up until then there was a lot of shine to enjoy.     Trump: 4/10  He looks ropier by the day. The meme dinner, the court blocking the tariffs, the ceasefires that haven't happened. It looks rambling, ill-disciplined, and insane. Oh, and that’s before you get to Harvard.    Coffee: 4/10  $10 a cup and Al Brown is selling filter. It's not right.    Radio NZ: 4/10  All that money for all those listeners to wander off to places like the Mike Hosking Breakfast. What's worse value – public radio you don’t want or a Waiuku crossing you can't afford?    LISTEN ABOVE FOR MIKE HOSKING'S FULL WEEK IN REVIEW See omnystudio.com/listener for privacy information.

Kate Hawkesby and Tim Wilson are back with Mike Hosking to Wrap the Week that was.  They discussed the average age of first home buyers, Hailey Bieber and her make up company, and how Producer Sam’s puppy has been behaving this week.   LISTEN ABOVE See omnystudio.com/listener for privacy information.

On the Mike Hosking Breakfast Full Show Podcast for Friday 30th of May, David Seymour is pulling the trigger, and parents will now be prosecuted for not sending their kids to school.  We've got new data on flight cancellations and delays after the endless texts saying services are rubbish now. Turns out, it's nowhere near as bad as you think.    Tim and Katie Wrap the Week and talk about the average age of a first home buyer, age, Hailey Bieber, and how good, or bad, producer Sam's new puppy has been this week.    Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

A new face is coming to New Zealand’s coins.   An image of King Charles has officially been approved to feature on the 10 cent coin from 2027.   2024 will be stamped on the currency – the year the Reserve Bank ordered them.   A koruru image will remain on the reverse side, as it has since 1967.  Ian Woolford, Director of Money and Cash at the Reserve Bank, told Mike Hosking it’s taken so long as they already have quite a big inventory of coins and bank notes.  He says 10 cent coins are the ones they need to stock up on, which is why they’re the first cab off the rank.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Federated Farmers is welcoming proposed changes to the Resource Management Act.  The Government's released three discussion documents proposing amending 12 current national directions and four new ones.  They include changes to freshwater management, regulation of farming practices and revising mine consent processes.  Mark Hooper, their RMA Spokesperson, told Mike Hosking that while the guidelines are complex and there’s a lot to wade through, the intent here is very much to get a simpler and better outcome.  The rewritten Resource Management Act isn’t expected to come until next year, so he says the intent of this release is to hopefully provide a bit more guidance and certainty for local authorities, so they can get on with their planning.   LISTEN ABOVE See omnystudio.com/listener for privacy information.

The average first home buyer is getting older.   A Cotality-Westpac report has found the average age of first home buyers has increased to 36 nationwide.   It's 37 in Auckland, 36 in Wellington, and 35 in Christchurch – all figures are two or three years higher than average in 2019.  Cotality Chief Property Economist Kelvin Davidson told Mike Hosking there’s a range of reasons behind it.  He says the affordability measures aren’t much different than they were in 2019, so while affordability is an influence, lifestyle and career choices are definitely having an impact.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Just 60% of Air New Zealand's trans-Tasman flights jetted off on time last month.  A report by the Ministry of Transport shows aviation performance for April.  It reveals 82% of the airline's domestic flights were on time, taking off within 15 minutes of their scheduled time.  Air New Zealand's highest cancellation rate was on its Rotorua to Auckland route, with just 52 of 65 scheduled flights flown.   Associate Transport Minister James Meager told Mike Hosking these figures aren't acceptable, but will be helpful.  He says it will help them focus on the regions that are suffering from poor performance.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Auckland Airport's investing nearly $150 million into a major domestic airfield upgrade.  It's part of works to help enable future growth in regional flights across the country.  Car parks next to the domestic terminal will be shifted to make way for four new aircraft parking stands dedicated to regional services.  Airports Association Chief Executive Billie Moore told Mike Hosking it's an important move for Auckland Airport, in terms of growth.  She says 40% of regional flights go to and from Auckland, so the rest of the network relies on them to increase capacity.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Parents could be forced to pay thousands of dollars if they repeatedly refuse to ensure their children attend school.  Associate Education Minister David Seymour's announced the change as part of a firmer approach the Government's taking on school attendance.   Seymour told Mike Hosking schools will alert the ministry to possible prosecution cases and ultimately decide whether to take the parents to court.  He says they could be fined up to $300 initially, but for repeat offenders, it could be $3,000.  Parents of students who are absent because of health conditions, or who are genuinely engaged with the school, won't be prosecuted.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

There are still many questions regarding the man who drove his car into a crowd in Liverpool.  Fans of Liverpool Football Club had flooded the city's streets to celebrate its Premier League title win.  Nearly 80 people were injured, and a 53-year-old local was arrested for attempted murder.  UK Correspondent Rod Liddle told Mike Hosking one theory is that it was an accident.  He said the driver may have simply followed the ambulance and upon finding themselves surrounded by screaming people, didn’t know what to do.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

I am here to help the ol' Chipster.  The Chipster, aka Chris Hipkins, was in the building this week. I said hello to him.  He asked me when I was dropping the blacklist I have on him appearing on this show.  I said he had appeared once already this year and that was plenty. We both laughed.  What I like about him is that he doesn’t seem to take any of this personally.  He knows I think he's hopeless and he knows I think he wrecked the country. But he is playing the long game and he knows I know he will be back next year in the election campaign and, if he wins, he will be back as a regular.  Which brings me to the help.  In Australia this week their Labor Government approved the extension of a massive gas project – Woodside are Australia's largest gas producer.  Before the word came from the Government, the company had launched a fairly vigorous, and as it turns out, effective campaign reminding us all that if you want to look at Spain the other day, and indeed various parts of Europe that have been spending increasing periods of time in the dark, you will find they became obsessed with renewables and that obsessions led to blackouts.  Continuity and consistency of supply, Woodside argued, is just as important as where you get your energy.  Anyway, Labor gave them the tick. Yes, the conservationists are upset, but aren't they always?  The point for Hipkins is this: this is a Labour Government that did this. A Labour Government that romped home in an election just the other day. A Labour Government with a gargantuan majority.  Why? Because it's what you'd call here a Labour Government of old. It's a centrist Labour Government.  It's not a woke, handwringing, ideologically obsessed Labour Government of, say, 2020-2023.  Blair Hawke and David Lange are your Labour Governments of success.  Hipkins is your Labour Government of failure.  Albanese has clearly learned the lessons of history and worked them nicely to his favour. Yes, he can be centre left, but the lights will always be on.  Last time the Chipster was in charge we stopped looking for gas altogether and, as far as I know, he wouldn't start looking again.  That’s the sort of thinking that leads to blackouts and an electorate that doesn’t see you as viable. See omnystudio.com/listener for privacy information.

On the Mike Hosking Breakfast Full Show Podcast for Thursday 29th of May, the Reserve Bank made the decision to cut the OCR by 25 basis points, but did we get any sort of clear direction for the future? Acting Governor Christian Hawkesby is on the show.  The Prime Minister has recovered from his illness and is on the program to give his reaction to the OCR announcement and the public service leaks.  We love Tami Nielson, so when she has a new NZ tour to announce, a new single, a new album coming soon, and multiple NZ Music Awards nominations, we had to get her on for a chat.  Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

One of the most significant country music figures to emerge from New Zealand, Tami Neilson continues to grow on the world stage.   Later this year she’ll be touring around the US with Willie Nelson and Bob Dylan, as well as a string of European dates – but unlike some other stars, she’s not leaving New Zealand out.   Neilson is returning to our stages this October for her ‘Neon Cowgirl’ tour – performing five shows across the country.   She’ll be performing songs from her new album of the same name, which releases in July.  Although it's common for artists to labour over their work, often taking years to complete and release albums, Neilson told Mike Hosking that comparatively, she works quite quickly.  “From the time I’m kind of laying down the music to when it comes out, it’s usually a year,” she said.  “I usually write my albums and then track them within a week, so most of my albums are live off the floor.”  The recordings listeners hear are full takes performed live by Neilson and her band, which she says adds a realness to the songs.  “I think in this age of, you know, impending AI, the more we can lean into our humanity, you hope that comes through in the music and connects with other human hearts.”  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The effects of centralising New Zealand's polytechs continue to be felt.  New data shows there were about 75 thousand international students in the country last year, down from 125 thousand in 2016.  Tertiary's seen the biggest drop, halving in that timeframe.  Tertiary Education Union's national secretary Sandra Grey told Mike Hosking polytechs had major reform after Covid, which disrupted courses and staff.  She says that confuses students looking to study, who will then consider options elsewhere.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Don't bank on further cuts to the Official Cash Rate.  The Reserve Bank's dropped the OCR 25 basis points to 3.25%, and is now forecasting it could reach a low of 2.9% by the end of the year.  But Governor Christian Hawkesby says further cuts aren't guaranteed.  He told Mike Hosking they're taking things one step at a time, as they wait to see how global developments affect the economy and inflation.  Hawkesby says the OCR is now close to "neutral" and the Reserve Bank's next move won't be pre-programmed, it will depend on how things unfold.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

A new plan is being touted as a way to fast track shaking up the grocery sector.  The New Zealand Initiative is proposing allowing new entrants to enter the market, rather than forcing any break-up of the existing supermarket companies.  It outlines the need for fast track plans for rezoning, consenting, overseas investment clearance, and a more neutral stance from the government.  Chief Economist Eric Crampton told Mike Hosking a new entrant should get a head start.  He says within five years the government would find out whether planning barriers are what's held companies back.  Foodstuffs and Woolworths are both members of the New Zealand Initiative.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Christopher Luxon remains hopeful the latest cut in the OCR isn't the last.  The Reserve Bank's dropped the Official Cash Rate 25 basis points to 3.25%, and is now forecasting it will reach a low of 2.9 percent in December.  But the Monetary Policy Committee wasn't able to reach a unanimous decision to cut the cash rate.  The Prime Minister told Mike Hosking Acting Governor Christian Hawkesby is dealing with a period of global uncertainty.  He says there's a huge amount of volatility that Hawkesby is navigating, but the economy is turning a corner.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

To give you an insight into just how hard Christian Hawkesby's job is today, have a look at what the shadow board says.  The NZIER has a monetary policy shadow board. It’s a bunch of economists and their view as to what should be happening.  Some say drop by 25 basis points, one says 50, and some say don’t do anything.  How do you deal with that?  These are experts. They know what they are doing. Or do they?  So no matter what Christian does some of them are going to go "what on Earth was he thinking?"  Think about the difference between 50 basis points and nothing.  50 basis points is a lot. 50 means things aren't good, and we need to fire the place up a bit.  If we don't move it means things are just where we want them.  Are they where we want them? No, is my answer. But then I'm not an economist.  Most of them say things like "boy this is tricky". My word is "uncertainty" – the watch word of the day.  It's through this murky mix of "who the hell knows what's going on" that Christian has to wade and produce something that will see us head into a half decent Christmas.  Of course that’s part of the mess we are in. There is a lot of water to go under our beleaguered bridge before Christmas, and a number of decisions from the Reserve Bank, along of course with the much-dissected commentary.  What does 25, or 50 basis points, or nothing, mean? What's old Christian thinking?  I'll tell you this for nothing – a big part of this equation is mood. It’s the same with the Budget last week and the depreciation measures.  You have to want to get amongst it. You have to take your mortgage rate cut and do something with it. You have to want to buy your tractor, or ute, and depreciate it by 20%.  If you are in a funk and you're not spending, then depreciating 20% of zero is nothing and no one gains.  Christian, or Nicola for that matter, can't do it all. At some point we have to believe. We have to have our arm twisted. We have to see a bit of light.  The most powerful factor in any economy is us, and mood.  At some point a switch has to go off, a decision has to be made, and we need to look forward to better days.  Let's hope today is a part of that story. See omnystudio.com/listener for privacy information.

A new horticultural initiative is set to transform New Zealand into a commercial catnip producer.  Kiwi startup, Muttley's Estate, is believed to be the world’s first manufacturer of catnip-based 'pet wine', that can be stored for up to 12 months.  The garden herb's estimated to positively impact mood in about two-thirds of cats while helping to soothe anxiety in dogs.  Muttley's Estate Director John Roberts told Mike Hosking catnip's currently not very widespread or commercially used.  He says they're trying to grow that market segment, as it's a relatively easy crop to grow.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Today on Politics Wednesday, Mark Mitchell and Ginny Andersen joined Mike Hosking to discuss the biggest topics of the week so far.  They discussed the shoplifting directive issued to Police – will officers still be attending retail crime incidents if the value of the theft is less than $500?   And why is Labour against the use of private hospitals to lower the public surgery backlog?  LISTEN ABOVE See omnystudio.com/listener for privacy information.

On the Mike Hosking Breakfast Full Show Podcast for Wednesday 28th of May, what will Christian Hawkesby and the Reserve Bank do today? We look ahead to this afternoon's announcement and, perhaps more importantly, the forecasts for the rest of the year.  Do we need to do something about this 'Run It Straight' game now that someone has died? Or is that leaning too much into being a nanny state?  Ginny Andersen and Mark Mitchell discuss the police directive regarding shoplifting and why Labour seems to be against private hospitals easing the public surgery backlog on Politics Wednesday.   Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Trade Minister says New Zealand's hustling on the world stage, looking for every opportunity.   KPMG's latest Agribusiness Agenda suggests New Zealand can't rely on our usual global customers and needs to look for new markets.   Trade and Agriculture Minister Todd McClay says this is a priority, with free trade negotiations in full force with India   He told Mike Hosking we also have to keep growing the value of our exports, something our primary sector's already seeing success with.   McClay says there's growth across the board because our farmers produce the highest quality and safest food.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

There's changes happening in the construction sector.  Construction Minister Chris Penk is launching the country's first fully independent residential building consent authority - with approval subject to certain conditions being met. The privately-owned company, supported by the government, promises to issue building consents within 10 working days for eligible residential projects.  Penk told Mike Hosking it's another option alongside local councils.  He says initially it will be too small to take on all the work council does, but it might be able to scale up depending on what the appetite is.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Access to the Port of Auckland is going to get more expensive for truck drivers.  Peak access charges for trucks entering the Fergusson Container Terminal will increase from $130 to $180 in January.   It will be followed by a further increase to $230, six months later.    Port of Auckland CEO Roger Gray told Mike Hosking they've given transport operators plenty of notice.  He says one of them happens in seven months and the other in 13 months, taking the port in the right direction.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

BNZ's the latest bank to drop its home loan rates, anticipating a change to the Official Cash Rate this afternoon.   The Reserve Bank's expected to cut the OCR 25 basis point to 3.25%.  Already BNZ's cut its fixed rates to as low as 4.89%, and its standard variable rate to 6.44%.   BNZ chief economist Mike Jones told Mike Hosking today's decision should indicate the Reserve Bank's general direction, but it probably won't reveal anything too specific.   He says that seems to be the playbook offshore, allowing it to take its time and assess the lay of the land at the next meeting.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

There's a belief official 'Run it Straight' events are trying to mitigate head injuries, but has risk written all over it.  Ryan Satterthwaite —a 19-year-old— has died after suffering a serious injury during a private version of the aggressive tackling game in Palmerston North on Sunday.  A championship league final has been blocked from Auckland's Trusts Arena.  Former Kiwis captain Richie Barnett told Mike Hosking the official events are a controlled environment, but heads can end up in the wrong space.  He says it's still impact, which is the problem, as you don't need to have a concussion to have a brain bleed.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

A day of celebrations has turned violent in the UK after a car collided with pedestrians at Liverpool Football Club's victory parade.  Authorities say a 53-year-old white British man has been arrested and the area has been evacuated.  47 people were injured – 27 were taken to hospital, two with serious injuries, and 20 treated on scene.  UK Correspondent Rod Liddle told Mike Hosking it doesn’t appear to be connected to terrorism at this stage.  He says the motives are a complete mystery.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The pressure is on the new Reserve Bank fill-in Governor tomorrow.  Although given it’s a committee, in theory he is more of a messenger.  It's reported that we have increased calls for a 50 basis point cut.  Why? Because things aren't flash.  If you read business results in the current reporting season, a lot of commentary tells us the recovery is underway. Things are looking better.  We can certainly see that, for example, with retail spending. The numbers produced just last Friday for the opening quarter of the year are up, and in some parts of the sector they're up quite a bit.  We have seen manufacturing expanding for several months in a row now.  So those are the fact-based statistics. The other measures, like confidence, have dropped. We see people in the doldrums.  But that is a vibe.  Can you find people who are in the doldrums? Of course you can. But does a vibe lead to a lack of action or a lack of spend? Or do we say one thing and do another?  We also read a lot about this “uncertainty”. The uncertainty is of course Donald Trump, because Trump is increasingly seen as insane.  It may well all end in tears, threatening tariffs on Europe one day then delaying it all until July the next.  Against this, the Reserve Bank Governor has to work out whether to drop the OCR by 25 or 50 basis points. If it's 50, does that gee us all up and out we go and fire things up? If so, then next thing you know inflation is sparked up.  Does he go 25 and hint at another 25, and may even another 25?  What does he say about inflation and its uptick already, not just here but globally? Do we have the growth to support any such uptick? Is the uptick driven by actual activity, or still people just putting their prices up?  As someone said, who on Earth would want to be Reserve Bank Governor? And our one isn't even under the constant threat of being fired.  Thank the good Lord that we indisputably have an export-led recovery of sorts. Meat and wine and kiwifruit are doing the business.  But that’s over there, over here we are still in a funk.  So, what to do? Your move Christian.  No pressure then.See omnystudio.com/listener for privacy information.

A common deficiency could be holding you back.  Iron is the most common nutritional deficiency, both globally and in New Zealand, and it plays a role in everything from energy to brain function and development, thyroid function, and anxiety prevention.  Dr Libby Weaver is biochemist, nutritionist, and author, and her latest book ‘Fix Iron First’ delves into the role of iron in the body, and how a deficiency could be impacting your life.  She joined Mike Hosking to discuss her research.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Despite the challenging economic conditions, Turners Automotive is standing strong.  The company announced a record year to March, returning a profit of $38.6 million – a 17% increase.  The result capped off what the company said was a decade of sustainable growth.  CEO Todd Hunter told Mike Hosking the secret to sustainable growth is to provide a great environment for their people.  He says they then provide a great experience for customers, and the combination of those two things delivers a great experience for their shareholders.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

On the Mike Hosking Breakfast Full Show Podcast for Tuesday 27th of May, are police deliberately not investigating retail crimes if the value is under $500?  We have a big recycling problem in this country, but we also have some good old Kiwi ingenuity when it comes to old and bruised kiwifruit.  Health whiz Dr Libby Weaver is back in studio to talk iron, and whether Mike is as healthy as he thinks he is.  Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

A year’s worth of plastic waste, once collected for recycling, may now end up in the landfill.  The market for coloured plastics dried up with the closure of Chinese recycling plants, and as a result, the Far North District Council is set to send 190 tonnes of plastic to the landfill.  Sue Coutts, Director of External Affairs for Zero Waste Network NZ, told Mike Hosking it’s no surprise the coloured bottles won’t be recycled, as they’ve known they can’t be for about a decade.  She says there’s plenty of good ideas out there to mitigate the problem, they just need to be implemented.  Coutts says the Government is currently consulting on extending producer responsibility, which would put the problem back into the hands of the ones creating it.   LISTEN ABOVE See omnystudio.com/listener for privacy information.

Kiwi ingenuity has found a new use for the 50,000 tonnes of kiwifruit that is rejected each year.  KiwiLeather Innovations is taking the byproduct and turning it into a plant-based leather alternative.   Founder Shelley Houston told Mike Hosking it takes about 500 grams to make a square meter of the alternative leather.   She says they’re targeting the automotive sector, as brands like Tesla are already using things like cactus leather for their interiors.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Nelson's Mayor says upgrading the city's hospital will be a turning point for its health services.  Completion of a 128-bed inpatient building has been brought forward two years to 2029.  Nick Smith told Mike Hosking the city’s health services have been under real pressure, with the old buildings dating back to 1955 and 1970.  He says it's encouraging not only to have the $500 million upgrade, but also the 32 bed temporary inpatient ward.  Smith told Hosking it gives them both immediate relief, but also enables the redevelopment and earthquake strengthening to be done really well.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Government's being accused of rushing a greyhound racing ban, affecting hundreds of jobs.  Racing Minister Winston Peters gave the industry 20 months to wind down from November.  Greyhound Racing NZ is applying for a judicial review, saying the Government failed to inform, prepare, and consult on the ban.  CEO Edward Rennell says many only found out shortly before the announcement.  He told Mike Hosking they've had no engagement from the Government and nothing in writing on the decision – the only way they’ve been able to determine how it was made was through the Official Information Act.  Based on that information, Rennell says the paper that went to cabinet was highly selective and didn’t present complete facts.  “When you’re looking to take away $159 million from the economy and 1,054 jobs, surely you have an obligation to review the full facts.”  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Retailers are seeking clarity on a Police directive on shoplifting.  RNZ reports police staff have been told to not investigate allegations of theft below $500.   Police may not take further action if the reports don't have enough evidence, such as CCTV.  Chair of the Ministry of Justice's Retail Crime Advisory Group Sunny Kaushal told Mike Hosking retailers are concerned.  He says similar policies have already failed in America and the UK, where gangs of shoplifters exploit them to make illegal gains without consequences.   LISTEN ABOVE See omnystudio.com/listener for privacy information.

It is suggested Peter Dutton in Australia lost the election because of his nuclear issue and work from home policies. I personally think he lost because they ran a hopeless campaign. But it is more than possible that he floated a couple of ideas that the voter simply could not stomach. I am wondering if Chris Luxon is heading in a similar direction here with superannuation. Nuclear makes sense. Working from home hinders productivity. But the voter is always right and being a voter beats logic. Will the voter be right here on superannuation? Are there enough New Zealanders who have landed on the simple truth that 65-years-old, as a pension age, is no longer sensible, nor affordable? $28 billion is the bill each year, and growing. That seems worse now because we are broke. But even in good times it’s a stunning amount of money. National will take it to the vote next year. They may be saved from themselves by NZ First, if they are still in the mix, because it will be a bottom line. But we reach the interesting point where logic and emotion collide. For many, superannuation is untouchable. It’s a lifetime's worth of work. "i paid my taxes" they say, even though that line isn't actually real because we spent your taxes years ago and then borrowed a bit more to keep the lights on. 65-years-old is the new 50-years-old and, post-Covid, older workers have never been in more demand. The days of being out to pasture are increasingly gone. 65-years-old is not old. Imagine a day where you enter the workforce knowing you need to take care of yourself. Yes, if you strike trouble the pension is a welfare payment, not an entitlement. But we either have to change the narrative and mindset from entitlement to welfare, or we need to up the age. In upping the age over time, even giving years worth of notice, it's still a very big call. It underlines our desire for free stuff, or perceived free stuff. Once you set a precedent with money it is fantastically hard to undo. But Luxon, apparently, is keen to give it a crack. He calls it a no brainer. First clue - there aren't many who think it’s a no brainer. Labour learnt the hard way over the capital gains tax. Luxon may be about to learn something similar.See omnystudio.com/listener for privacy information.

Australia's National-Liberal coalition has made up after a three day split.  New Liberal Party leader Sussan Ley is expected to announce her shadow cabinet this week.  Australian Correspondent Steve Price says it will be a battle between the Conservatives who were closely aligned to former leader Peter Dutton, and the moderates who are aligned to Sussan Ley.  LISTEN ABOVE. See omnystudio.com/listener for privacy information.

Listen to the Mike Hosking Breakfast Full Show Podcast for Monday 26 May. Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.See omnystudio.com/listener for privacy information.

Finance Minister Nicola Willis talks to Mike Hosking about the week's big issues after the budget announcement last week.  Health New Zealand's aiming to perform more than 30-thousand elective surgeries by June 2026 by outsourcing more straightforward cases to private hospitals.  Willis says getting doctors and specialists on longer term contracts will get more people the care they need sooner.  Prime Minister Christopher Luxon last week announced his intention to raise the retirement age. Willis says no discussions have taken place yet, but says the Government would need to be upfront with their plans.  "At some point, a future government is either going to have to slap a lot more tax on people or it's going to have to front up to whether the settings can be tweaked a little bit," she says.  LISTEN ABOVE. See omnystudio.com/listener for privacy information.

Alcohol out of New Zealand's showing strong results around the world.  Bluff Distillery's London Dry Gin had a very good day out at the Gin Guide Awards in London, winning five awards, including Best Contemporary gin over 42 percent. They also took out Best Australasian gin and best branding. Bluff Distillery co-founder David Nash talks to Mike Hosking about the success.  LISTEN ABOVE.See omnystudio.com/listener for privacy information.

More than half of the children on the waiting list for dental surgery have been waiting more than four months. Data from Health New Zealand shows that as of March, there were 5564 young people aged 14 and under on the waitlist, with 2942 waiting more than 120 days. The overall waitlist has grown by about 1500 children in two years.  New Zealand Dental Association Spokesperson Robin Whyman talks to Mike Hosking about the issue.  LISTEN ABOVE. See omnystudio.com/listener for privacy information.

More benefit sanctions are coming in today for beneficiaries not meeting their requirements.  People on a main benefit like Jobseeker Support could be hit with money management and community work sanctions if they fail to meet one of their obligations, which involve preparing or looking for work.  One sanction means half of a person's benefit would be put on a payment card for four weeks - only to be used at approved, essential retailers.  Social Development Minister Louise Upston talks to Mike Hosking about the sanctions.  LISTEN ABOVE. See omnystudio.com/listener for privacy information.

Changes are coming to Auckland City's density rules.  It means height limits for buildings have been increased, and more buildings are expected.  Greater Auckland writer Scott Caldwell talks to Mike Hosking about what it means for the city.  LISTEN ABOVE. See omnystudio.com/listener for privacy information.

Russia unleashed a massive drone and missile attack on the Ukrainian capital, Kyiv on Sunday, killing 12 people.  Ukrainian officials say it's the largest aerial assault since Russia's full-scale invasion of Ukraine in February 2022.  It came hours after the two countries swapped hundreds of prisoners in the third and final part of a major exchange.  US Correspondent Richard Arnold talks to Mike Hosking about the raid and the seven people arrested after escaping prison in New Orleans.  LISTEN ABOVE. See omnystudio.com/listener for privacy information.

New Zealand's economic recovery is now forecast to be slower than the half year update.  Unemployment is slated to peak at 5.4 percent in the June quarter. Job ads in April increased for the second consecutive month, this time by 1.1 percent.  LISTEN ABOVE. See omnystudio.com/listener for privacy information.