The Mike Hosking Breakfast

Finance Minister Nicola Willis says changes to KiwiSaver will be revealed at next week’s Budget. The NZ Super Fund will cover only 20% of future Superannuation costs, with withdrawals starting in 2028. The fund will continue growing despite withdrawals, but Superannuation costs are expected to reach $29 billion annually. There will be changes to KiwiSaver announced at next week’s Budget, with the Super Fund only expected to cover – at best – 20% of the cost of Superannuation in the future, Finance Minister Nicola Willis says. Willis wouldn’t say what the changes would be, but they would be “positive”, she told Newstalk ZB’s Mike Hosking Breakfast this morning. The minister has previously not ruled out changes – including means-testing – to the $521 given to KiwiSaver members who contribute at least twice that amount each year. “[Changes will be positive] because I want to see people’s KiwiSaver balances grow. KiwiSaver has become particularly important for those saving to buy their first home – we had more than 40,000 people use KiwiSaver to do that in the past year," she told Hosking. “And it’s become an increasingly important supplement for people’s retirement income.” Willis announced yesterday that the Government was forecast to make its first withdrawal from the NZ Super Fund in 2028, five years earlier than forecast at last year’s Budget. Superannuation costs are expected to reach $29 billion a year in a few years, Finance Minister Nicola Willis says. Photo / 123rf The fund was set up in 2001 to subsidise the future cost of Superannuation, easing the burden on taxpayers. The date of the withdrawal – forecast to total $32m in 2028 – isn’t at the Government’s discretion and is written into the Fund’s governing legislation. The first withdrawal would be followed by some “bouncing around between withdrawals and contributions”, but from 2031 onwards, withdrawals were expected every year, Willis said yesterday. Despite withdrawals, the Super Fund won’t shrink in the short-term. It will continue growing for some time as withdrawals will be smaller than the overall growth in the fund, the Herald reported yesterday. Treasury’s forecasts, which were based on a complicated formula relating to how much is in the fund, GDP, taxpayer numbers and other factors, confirmed help was needed to pay for superannuation, Willis told Hosking this morning. “We’ve all talked for several years about at a certain point, the cost of superannuation will get very high, and then we’ll need the Super Fund to help. We’re now at that point.” Asked how much of the cost of superannuation the fund would cover “in its golden moments”, Willis told Hosking: “In its golden moments it’s only going to be about 20% of the total cost”. “There’s no getting away from the fact that superannuation is very expensive … just in the next few years, it’s going to leap up to $29 billion a year, because there are a lot of people over the age of 65 and superannuation is pegged to the after-tax average wage, so that number keeps going up. “That’s the commitment that we have as a country, is to fund that entitlement, and we then need to pay for it. And there are fewer taxpayers, of course, in the future to help pay for it.” -Cherie Howie  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The social media ban is like the pay equity debate.  It's not hard to drum up a lot of emotion and it's not hard to find people who would argue passionately for it.  So in this sense, perhaps unlike the pay equity debate, the Government is on the right side of this.  For the record, my gut says the pay equity debate is somewhat of a risk, but is more beltway and union-based than many think, and won't ultimately damage the Government.  The social media ban won't damage them either, even though it won't work, which it won't.  It's not like a school phone ban. A phone ban is black and white. You either have no phones in class, or not.  That has been successful because the Government played the bad guy allowing schools to do what schools should have done all along.  The social media ban is designed to help parents be the bad guys, backed by the Government.  We are looking to Australia for guidance.  In Australia they are exempting YouTube, they are exempting Telegram, they are exempting gaming, and as part of that, the game Roblox. There are confirmed reports of paedophile rings using Roblox.  So the Government are now the arbiters of what's good, what's bad, what's right and what's wrong.  Libertarians will be having a field day. No wonder Act are not on board.  Act also, according to their leader who was listening to the Prime Minister on this show, have not moved their position on backing the idea. Because they don’t.  So the moment you go down the “Meta is bad, but YouTube is fine” pathway, that's lawyers, or possibly threats of lawyers, or possibly the pulling of a service from a country.  The Government was also looking at big tech paying our local media for content they take and make money off. We were following Australia on that too.  What happened to that? Trump did, and tariffs, and threats of services being pulled. Has any of it come to pass? No, it has not.  Will this come to pass? No, it will not. See omnystudio.com/listener for privacy information.

Spark’s weighing in on the topic of kids on social media.   The telco is launching the country’s first mobile plan for kids, aiming to help parents ease them into the digital world.  The plan will allow parents to control usage and data, and limit users to low-data apps such as bus apps and find my phone.  Spark Corporate Relations and Sustainability Director Leela Ashford told Mike Hosking parents are trying to balance the benefits of giving their kids a phone, such as connectivity, but aren’t wanting to open the internet floodgates all at once.  She says the plan is suited to low levels of data use, and isn’t designed to let kids off the tether to do whatever they want.   LISTEN ABOVE See omnystudio.com/listener for privacy information.

On the Mike Hosking Breakfast Full Show Podcast for Tuesday 13th of May, Deputy Police Commissioner Jevon McSkimming has resigned after being on suspension for months amid “very serious” allegations. Former Police Minister Stuart Nash details his dealings with him.  Kiwi golfer Ryan Fox joins for a quick chat whilst en route to the PGA Championship that he just qualified for by winning his first PGA tour event.  Jetstar CEO Stephanie Tully discusses the aviation industry and what it’s like for a player truing to become the low-cost operator.  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 maiden PGA Tour win for golfer Ryan Fox at the Myrtle Beach Classic has guaranteed him long-term security.  His US PGA Tour win at the Myrtle Beach Classic in South Carolina yesterday has gained him entry into this week's PGA Championship at Quail Hollow in North Carolina, the year's second major.  The spoils also include a two-year tour exemption and $1.2 million dollars.  Fox told Mike Hosking it means a lot to get that first win on the PGA Tour.  He says having job security on the tour is big – they don’t get a lot of that in this game.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

More people could be set to fly Jetstar due to ongoing angst around aviation prices.  This comes following a Commerce Commission complaint from a man who was stunned by the cost of an Air New Zealand direct flight to Wellington.  The airline defended its prices, saying their fares reflected the 'true cost of flying'.  Jetstar CEO Stephanie Tully told Mike Hosking travel remains important to people, and they play an important role.   She says most people are feeling a cost of living pressure, and that's where Jetstar becomes a good choice.  It’s also seen an uptick in reliability.   Tully says that based on their operational performance report, they were more reliable than Air New Zealand in March. LISTEN ABOVE See omnystudio.com/listener for privacy information.

A proposal to give iwi first right of refusal on surplus council property sales in Horowhenua is being labelled unfair and divisive.  The policy amendment —brought by a group of councillors— would effectively see iwi offered council property at market value before it's listed publicly.  Horowhenua district councillor Sam Jennings told Mike Hosking he's against it and doesn't like that it's been kept behind closed doors until now.  He doesn't like the idea of inserting privilege into council policy.  The proposal will be voted on tomorrow.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Principals' Federation is unsure where specialist teachers in maths will come from as schools grapple with staff shortages.  The Government's injecting $100 million into maths education over four years, as part of Budget 2025.  More than half the money will go into 143 new full-time maths intervention teachers.    President Leanne Otene told Mike Hosking we don't have enough teachers as it is.  She says to take that number out of the school system and get them to deliver this programme won't solve the problem in the long run.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Russian President Vladimir Putin is yet to confirm if he'll attend direct talks with Ukraine this week.  It comes after western allies in the 'Coalition of the Willing' offered a US backed 30-day cease-fire proposal to Russia, alongside the threat of sanctions.   Ukraine President Zelenskyy's asking for a ceasefire before they begin talks but is willing to meet in Turkey on Thursday.  Europe Correspondent Catherine Field told Mike Hosking Putin requested the meeting, without preconditions.   She says he may not even attend and instead could send his Foreign Minister.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

A former Police Minister says watching porn on a work computer is a pretty dumb thing to do.  Deputy Police Commissioner Jevon McSkimming had been suspended on full-pay since December.   He was under a criminal investigation by police on unrelated different allegations, the nature of which can't be reported.   Our newsroom understands while investigating the original complaint, detectives allegedly discovered porn on one of his electronic work devices.  Stuart Nash told Mike Hosking he struggles to understand McSkimming doing this.  He says every bloke knows there are ways to watch porn without watching on your work computer.   LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Former Local Government Minister's not taking issue with the Auckland Mayor's new manifesto.  Wayne Brown has laid out his thoughts and a Beehive to-do list ahead of the 2025 Budget.    He scored the Government a B+, saying they're too distracted by mega-projects and press releases.  Simeon Brown told Mike Hosking Wayne Brown is just doing his job.  He says he's the mayor of our largest city and he's advocating for what he believes is needed, even if they don't agree.  The Government's refusing to budge on an Auckland bed tax.   Brown’s manifesto also includes calling for the government to reconsider an Auckland bed levy, adding a small fee on short term accommodation.  Brown told Hosking they don't want to lump Aucklanders with the tax.  He says in fact the council should be looking for efficiencies in its own budget instead of new taxes.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Am I right to inquire just what it is that Tama Potaka has been doing for a year and a half? How many times have you heard me ask the Prime Minister on a Monday, when is the Waitangi Tribunal decision being made? What is Potaka doing with this activist tribunal? Well, on Friday we got the answer. He is going to have a review. I thought that's what he was already doing. That’s why I thought we had been waiting so long. The impatience I was showing in asking the Prime Minister is not "when is he announcing a review"? It's, when is the Government snipping the wings of taxpayer-funded activists that have lived well past their use by date? The tribunal was set up 50 years ago to settle historic grievances. To a large extent, they have done that. The fact some remain outstanding is an indictment on the people who haven't settled and various Governments who have refused to put deadlines in place. But the majority of the intent of the tribunal is over. Having ticked that box, they saw a future in a lot more money and work offering increasingly radical views for anyone who was bored and angry and wanted to take a case, so they could get a judgement to beat the Government of the day over the head with. This current Government, perceived by the aggrieved as a particularly nasty lot, have kept the tribunal flat out filing complaints and receiving damning reports. None of it means anything because the tribunal has no real legal standing. None of this is complex. Yet Potaka has been sitting there doing Lord-knows-what, to finally muster up a press release on a Friday to tell us at long, long, long, last we'll get a couple of people to wander off for a few months and come back with an opinion the Government wants, so they can do what they should have done all along - call a halt to the circus. Once again we remind you - no small amount of the support that got this Government to power was predicated on the idea that enough was enough on the Maori overreach front. Delivery has been painfully slow. Potaka has been dragging the chain. Is it possible part of the reason this Government has failed to fire more, is simply because their talk was a lot more attractive than their action?See omnystudio.com/listener for privacy information.

On the Mike Hosking Breakfast Full Show Podcast for Monday the 12th of May, the Government are going back to crushing cars. Will they be more effective than Judith Collins and her three crushed cars in eight years? The Prime Minister is in studio to talk the Coalition of the Willing call over the weekend, the Waitangi Tribunal review and Act agreeing to disagree on guns. Andrew Saville and Jason Pine give their highlights of the sporting weekend and the future of the NZR after bringing in record revenue but still losing $20 million. 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.

Prime Minister Christopher Luxon is in studio with Mike Hosking to discuss all the big issues of the week. The Government’s announced plans to work on restrictions banning social media use by those under 16. ACT isn't supporting the bill, but the Prime Minister says that could be changing. "They sort of started to shift their position a little bit on the weekend, which is good," he said. The Prime Minister discusses the war in Ukraine after talking with leaders on the issue recently. He says Russia started the war, and they can finish it. Prime Minister Christopher Luxon discusses all this and more with Mike Hosking. LISTEN ABOVE. See omnystudio.com/listener for privacy information.

It’s been revealed that New Zealand’s hidden economy costs us around $13 billion a year in unseen taxes. It comes out to around 11 percent of our GDP. Independent tax expert Geof Nightingale talks to Mike Hosking about our black market. LISTEN ABOVE.See omnystudio.com/listener for privacy information.

Drivers who participate in street races will have their vehicles destroyed or forfeited in the majority of cases under new legislation announced by the Government today. On Sunday, Transport Minister Chris Bishop said the current penalties “aren’t strong enough to deter this appalling behaviour”. He said police reporting found the frequency of anti-social road events was increasing and “enough is enough”. Presumptive sentences are coming, meaning more power for the police to monitor and close areas like roads. Assistant Police Commissioner Mike Johnson talks to Mike Hosking about the crackdown. LISTEN ABOVE. See omnystudio.com/listener for privacy information.

Thursday could be a big day for developments in the war in Ukraine. Vladimir Putin’s proposing direct talks between Russia and Ukraine on Thursday, as a counteroffer after being faced with an ultimatumof agreeing to a 30-day ceasefire today. Trump has told Ukraine to accept the proposal. Geopolitical Analyst Geoffrey Miller talks to Mike Hosking about the tense situation. LISTEN ABOVE. See omnystudio.com/listener for privacy information.

Russian President Vladimir Putin is rejecting an initial ceasefire deal with Ukraine, and instead proposing direct talks to start in Istanbul this week.  The leaders of Britain, France, Germany and Poland visited Ukraine over the weekend, setting tomorrow as a deadline for Russian to accept a 30 day ceasefire or face additional sanctions. The Trump Administration said it will impose additional sanctions on Russia if they don't comply.  US Correspondent Richard Arnold talks to Mike Hosking about the deal, the new royal jet for Washington and the latest on China-US trade talks.  LISTEN ABOVE.  See omnystudio.com/listener for privacy information.

The Prime Minister says the Government is making work on restrictions to social media for New Zealanders under the age of 16 part of its official programme. It will sit with Education Minister Erica Stanford, whose portfolio will be expanded to allow her to commission advice and direct officials from a range of departments on reducing social media harm for those under 16. As it’s a Member’s Bill, it needs to be drawn from Parliament’s ballot before proceeding.  Education Minister Erica Stanford talks to Mike Hosking about the bill.  LISTEN ABOVE. See omnystudio.com/listener for privacy information.

Developments are being made in the US and China trade talks.  A top Trump economic adviser says about two dozen trade deals are in the works with the country.  Talks took place in Switzerland over the weekend.  Greg Smith of Devon Funds Management talks to Mike Hosking about the negotiations, British Airways buying billions of dollars worth of planes and why BP's in the crosshairs of a takeover suiter.  LISTEN ABOVE. 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.    Anthony Albanese: 8/10  Better than anyone, and I suspect even he, expected.    Nigel Farage: 8/10  Better than anyone, and I suspect even he, expected.    Donald Trump: 6/10  Between the redecorating tips, the movie move, the GDP going backwards, Mark Carney, whatever the Middle East announcement is, the deals he wants to do, the deals he doesn’t want to do, his withdrawal of another nomination, defunding of public broadcasting, his outrage over the Emmy nod for the interview he's suing over, plane loads of illegal's to Syria, Lord knows how many court cases - and that’s just this week! Have you ever seen a more omnipresent international player?    Erica Stanford's email: 2/10  The biggest time-wasting nonsense of the week.    Adrian Orr's farewell: 4/10  The saddest thing you ever heard. $6,000 for water, juice and biscuits.    LISTEN ABOVE FOR MIKE HOSKING'S FULL WEEK IN REVIEW See omnystudio.com/listener for privacy information.

Two entrepreneurs are bringing Kiwi ingenuity to the world stage.  Dan Wallace and Anthony Clyde, co-founders of Velduro, have won gold at the 33rd Annual China International Bicycle Fair.  Their ‘super light carbon’ e-bike beat out 600 other bikes for the prize.  Wallace told Mike Hosking they entered the bike in February in the hope they would get some recognition and to put New Zealand on a bit of a stage.  He says they found out the day they arrived that they’d won an award – and he got to stand up on stage surrounded by some pretty big leaders in the industry.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

In the NZR press release yesterday, Chairman David Kirk and CEO Mark Robinson did their best to infer that life financially for the sport is sensational.  Despite the fact it isn't.  They lost money, almost $20 million. And they lost money the year before that as well.  Kirk ran the line that it was not a cash loss and that they had $170-ish million in reserves.  They also spruiked the fact that they were pulling in record revenue.  Now, I am a conservative when it comes to money. The fact they pulled in record revenue and still lost money is your real news, because if you can't make dough when you're raking it in, your model is broken.  Mark Robinson admitted as much by saying "there was further work needed to achieve a sustainable financial model".  This is no different to your household budget.  You had a pay rise, brought some good coin into the house, but you are still not getting ahead. Then you reassure yourself that although you got a pay rise, but spent it all and then some, don't worry – we still have the savings account.  The trouble for people like Kirk and Robinson is everyone is an expert. We all run rugby and, in a way, that is a good thing. We are not short of interested parties.  But what you can't argue with is the market rugby plays in. The global sports market is booming. The money out there for elite sport is eye-watering and NZR's revenue uptick indicates they might be seeing a bit of that.  But the simple truth is if you can't bank the buck in the golden years, you will be killed in the lean ones.  The experts who text me will tell you Robinson is a fool, women's rugby is a drain, and the provincial unions are run by people called Bruce who still drink handles of beer every Friday night with their shirt fronts hanging out.  But what all of that florid verbiage from the well-intentioned doesn’t address is the really big important question.  If you can't make money from your national game, either no sport can make money (which we know not to be true), or something is wrong with the way the national game is run.  If you're still in the red when it's raining money and your press releases have a desperation about them, someone needs to be held to account. See omnystudio.com/listener for privacy information.

On the Mike Hosking Breakfast Full Show Podcast for Friday 9th of May, we got the white smoke, and the cardinals have elected Robert Prevost to become the next Pope. He's the first American Pope and will take on the name Leo XIV.  NZ Rugby have had their third full year financial loss in a row, despite record revenue. CEO Mark Robinson is on to explain whether the model, or something else, needs to change.  Kate Hawkesby and Tim Wilson play a fun new game that Mike invented and discuss the new radio station that launched today as they Wrap the 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.

Kate Hawkesby and Tim Wilson are back with Mike Hosking to Wrap the Week that was.  New Zealand finally has a radio station that caters to Mike’s taste in music, with iHeartCountry NZ launching this morning.   Plus, Kate and Tim played a game of Mike’s invention for the chance to win a cash prize.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

New Zealand Rugby has posted a $19.5 million loss for 2024.  Since NZR brought US fund manager Silver Lake on as an equity partner in June 2022, the national body has posted total accumulated losses of around $76 million over three years.  NZR is trumpeting record income of $285 million dollars against the loss.  CEO Mark Robinson told Mike Hosking that much of the deficit is as a result of investment, and putting all those aside, the deficit is just under $6 million over the last four years.   He says that they’re making choices to fund investment and growth for the future, and you can see some green shoots coming through.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

New Zealand banks are being asked to pay up in the next few months.  Kiwibank, BNZ, Westpac, ANZ and ASB will need to repay around $9.2 billion in cheap Covid-era loans to the Reserve Bank.  Infometrics Principal Economist Brad Olsen told Mike Hosking that they have variety of options they can use to repay the money.  He says the banks knew when taking out these loans they’d have to pay them back eventually.  Olsen told Hosking that if they’re not ready to pay them back, they probably don’t qualify to be called bankers at this point.   LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Government's scraped the bottom of the barrel to find more money for the upcoming Budget.  Prime Minister Christopher Luxon's promising an extra $400 million for maintaining and upgrading assets, on top of the already projected $3.6 billion.  He says he wants to prioritise growing the economy.  Infrastructure New Zealand Policy Director Michelle McCormick told Mike Hosking things are looking up after the investment summit earlier this year.  She says things are happening in the background, including creating a more positive investment environment.  McCormick says that while it's breadcrumbs, it's positive news.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The new Pope's experience around the globe has hoisted him above front-runners for the papacy.   69-year-old Robert Prevost, who will be known as Pope Leo XIV, is the first Pope to come from the United States.   While he was born in Chicago, he's also a naturalised Peruvian having lived there for about 20 years, and speaks English, Spanish, and Italian.  Newstalk ZB's Jo McKenna is at the Vatican and told Mike Hosking his history in Peru would've drawn support from South American cardinals.  She says he’s strongly pushing messages of connection, talking in his speech about peace and maintaining the message of Pope Francis of reaching out to all corners of the earth and creating an inclusive church.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Government's planning to increase ventilation requirements in new homes to address overheating in townhouses.  RNZ reports Auckland homeowners have complained of 30-degree temperatures overnight due to poorly ventilated buildings.  Building and Construction Minister Chris Penk says changes are needed so people don't get cooked alive in their own house.  Property developer and investor David Whitburn told Mike Hosking the problem's driven by cost and design.  He says the building code has changed for insulation standards, while ventilation rules have stayed the same.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Donald Trump's tariffs continue to loom over the film industry.  The New Zealand Film Commission is embarking on an international trade mission of its own.  The team is headed to India, the UK, and France to look for new investment partnerships and international productions.  Chief Executive Annie Murray told Mike Hosking co-production is on the rise, despite the tariffs.  He says there's a lot of business happening and they're looking ahead to Cannes, where they'll conduct more meetings to grow the industry.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Red meat exports are setting records.  The country's March export sales were $1.26 billion - a new high.  China's beef demand dropped 35% by volume and value compared to last March, due to their growing imports from South America.  Fed Farmers President Wayne Langford told Mike Hosking there's still room to expand.  He says there's work to do for farming marketing and trade teams to get deals across the line with Chinese red meat importers.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

An organised crime expert believes New Zealand's failure to curb criminal activity isn't due to a lack of trying.   A ministerial advisory group has released its second report criticising our response to modern crime and money laundering.   It shows the cash and assets seized by police is just 4.2% of the $1.6 billion in criminal profits each year.   Group Chair and top lawyer Steve Symon told Mike Hosking Police are doing an excellent job addressing the problem and just need more tools.   He says the number of seizures is fine by international standards, but not enough to properly disrupt operations.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

On the Mike Hosking Breakfast Full Show Podcast for Thursday 8th of May, our unemployment numbers look to have peaked, and we have the latest report from the advisory group for organised crime.  Would you be happy if Mark Lundy moved into your neighbourhood? Should we know where a high-profile prisoner is reintegrating back into society?  Outgoing Air NZ CEO Greg Foran gives his first in-depth interview since announcing his resignation.  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.

Greg Foran knew his time with Air New Zealand was limited from the get go.  The outgoing CEO announced his resignation in March, planning to stay on until October.   He began at Air NZ in early 2020, replacing Christopher Luxon.  Foran told Mike Hosking he knew in the back of his mind he’d probably only do about five or six years with the company, as he has other things he’s keen to do.  He says it’s been one of the peak learning experiences he’s had, and he’s a far better leader today than he was before he took the job.  He also weighed in on the country's tourism numbers. He's been in Rotorua this week for the national tourism industry summit, TRENZ.   Foran told Hosking overseas visitor arrivals last year were only 87% of pre-Covid levels in 2019.   He believes by this time next year, numbers will be back over 100% compared to pre-Covid.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

A $1.4 billion upgrade could be on the way for Transpower's Cook Strait electricity cable.   The 610 kilometre link is a transmission system connecting the North and South islands, installed in 1991.  The existing cables are likely to reach their end of life in the late 2030s.   Energy Resources Aotearoa CEO John Carnegie told Mike Hosking the Commerce Commission will need to review that.  He says they’ll need to ensure the numbers are robust and the programme executable.   LISTEN ABOVE See omnystudio.com/listener for privacy information.

Black smoke has billowed from Rome's Sistine Chapel, signalling a new pope's failed to be elected.  The 133 cardinals will now reconvene tomorrow to choose a successor to Pope Francis.  Jo McKenna, who's in St Peters' Square, told Mike Hosking they went up until about 9pm local time.  She says many of the cardinals are elderly and have to come back in the morning.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

It's expected twice-convicted double-murderer Mark Lundy will be slipped back into the community.  He's been released from prison after more than 23 years for the murders of his wife Christine and 7-year-old daughter, Amber, in their Palmerston North home.  The now 66-year-old has always maintained his innocence  Criminal lawyer Steve Cullen told Mike Hosking where parolees are released is never made public.  He says there'd be a risk of vigilante groups or media throngs if it was.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Finance Minister admits many Kiwis aren't getting as much work as they'd like to be.  Unemployment has remained unchanged at 5.1% in the March quarter, despite most economists predicting a rise.  However, 21% of employed people are now working part time.  Nicola Willis told Mike Hosking the ongoing rise in the under-utilisation rate is a concern.  She says it's clear that some people are going into part time work rather than full time work, and aren't working as many hours as they'd like to be.  Willis says she'd like to see those numbers improving.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Kristine Bartlett was, to many, a hero.  She was a very likeable woman. She was a caregiver who argued her work was undervalued and she deserved more.  The Labour Party who love “feels” and are not exactly unfamiliar with the unions leapt all over it and the Equal Pay Act 2022 was born.  The downside was how to compare this so-called "underpaid work" like in nursing homes, where women dominate and a comparable profession dominated by men.  They decided at the time comparing mechanics to rest home workers made sense, even though it didn’t, and doesn’t.  That's why Brooke van Velden has announced pay equity is going to be, quite rightly, tipped up and sorted out.  Now, whether you can sort it out sensibly is your next issue.  Under current law the job must be performed by at least 60% of the same sex. That will rise to 70%.  On grounds that lead you to believe that the work is historically and currently undervalued you will need evidence, and they are looking at comparators. That's your apples and oranges, or rest home workers and mechanics.  The trouble with the Bartlett issue was twofold.  1) Part of the argument was if you paid people more you would recruit more easily. Turns out that’s wrong as after huge pay rises rest home gaps are still a disaster  2) The bill to reach this so-called equity was $2b. That's a lot of money then and a lot of money now.  I wish van Velden well. But the simple truth is the moment you try to engineer something, you tend to strike trouble.  Work is worth what work is worth, no matter who does it.  Some work pays more than other work. It's based on demand, or skills, or sales and revenue, or scarcity, or demand, or a combination of them.  Given no one makes anyone work in any given area, you strike extraordinary complexity in trying to gerrymander it.  It also singles out just one element of work —money— as being the sole reason for work. Which it isn't.  What we have doesn’t work, hasn’t solved anything and was done for poor reasons.  So reform is good. But reform to what is a bigger trick than they may realise. See omnystudio.com/listener for privacy information.

135 cardinals from around the world will take their picks on who the new pope should be.   They'll be locked in Rome's Sistine Chapel from tomorrow to decide who will replace Pope Francis.    There's no timescale for how long it'll take, but the last two papal elections lasted for two days.  Australian Catholic Journalist Mark O’Connor told Mike Hosking the cardinals know what they're looking for.  He thinks the cardinals want to have someone with charisma, who can connect with ordinary people.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

There's acceptance banning social media for under 16s may be easier said than done.   National has put forward a members’ bill to prevent under 16 year olds having social media accounts, with large corporations being responsible for technically regulating age verification.   The author, Tukituki MP Catherine Wedd told Mike Hosking she knows anyone can use a fake age to set up a social media account, but if companies fail to manage it, they'll face significant penalties  She says it's not going to be perfect, but this is a direction from the government that we need to do more to protect kids from online harm.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

On the Mike Hosking Breakfast Full Show Podcast for Wednesday 7th of May, Brooke van Velden talks improving the pay equity process and why it isn't, apparently, all about the Budget.  And we've got a National bill that wants to ban social media for under 16s. Possible or not?  Mark Mitchell and Ginny Andersen talk pay equity and the feasibility of the social media ban – and can we get through a whole segment without Mark putting himself on mute?  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.

MPs across the political spectrum are fired up over the latest proposal to overhaul —under urgency— rules around pay equity.   The proposed law, which would lift the threshold of pay equity claims of gender-discrimination, is expected to have its third reading this morning.   Labour's Ginny Andersen told Mike Hosking the Government was boasting about savings.    She says the women in these jobs need to know their wages have been undercut to pay for the Government’s budget.  Mark Mitchell says it's not that simple.  He says taxpayers are the ones funding the pay equity system, and so they need to ensure it’s sustainable.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

An observation the recession hasn't been felt evenly.  Stats NZ data out this morning could show unemployment has hit its highest point since 2016 during the March quarter – reaching around 5.2%.  ANZ Chief Economist Sharon Zollner told Mike Hosking she expects it will have bigger impacts on different age groups and communities.  She says young people as well as Māori and Pacific communities have always been on a bigger rollercoaster when it comes to the labour market.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The US President and Canadian Prime Minister have had some tough conversations today.   Donald Trump and Mark Carney met at the White House and vowed to bring up tough points that are dividing their countries since Trump won office.  On Trump's desire to make Canada America's 51st state, Carney stated the country is not for sale.   US Correspondent Richard Arnold told Mike Hosking Donald Trump says the countries have a good relationship, and love each other.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The more vape stores near schools, the more young people vape.   Fresh research from Auckland University shows almost half of schools across New Zealand are within a ten minute walk from a vape store  The government passed a law in 2023 banning specialist vape shops from opening within 300 metres of schools, but the laws didn't apply to hundreds of existing suppliers.  Study lead Ronan Payinda told Mike Hosking that walking past vape shops on the way to school increases the risk of vaping for those who have never done it before.  He says he's concerned this introduces a new generation to addictions that may last a lifetime.   LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Government says its new tough rules for pay equity claims will result in major taxpayer savings.   The proposed law, which would lift the threshold of pay equity claims of gender-discrimination, is expected to have its third reading this morning.   It's caused an uproar, with many women and union groups opposed to the idea.   Workplace Relations Minister Brooke van Velden told Mike Hosking she can't yet disclose the exact financial impact.   However she says the Crown will save billions of dollars, if passed.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

I always find it amusing when officialdom is confused, and they seem confused, as to why so many of our brightest minds have bailed and gone off overseas.  This is the group of top achievers at NCEA level and the ones with international qualifications.  More of them than ever have left the country. Officialdom here doesn’t know if they are enrolled offshore or, and here is the critical point, why they left.  Fortunately, I can help. Well, at least a bit.  We had one leave the country to go off and study. We have a niece currently studying offshore and we also have a nephew who left, studied and graduated last year.  They were, or are, all bright and all got top marks, and here is officialdom's answer: all wanted to get the hell out of here.  Studying at an overseas university has become a “thing”.  In one way it is no different to the vast swathes of other New Zealanders who set records exiting in the past few years.  In simple terms, the brighter you are the more prospects you have. Part of your brain power and academic success will have led you to the realisation that there is a big world out there with a lot of opportunities and you want a slice of this action.  Anecdotally, as regards higher study post-secondary school, I can tell you the amount of Māori indoctrination at high school these days is not just absurd, but counter productive.  I know it isn't PC to say so and I know it's not scientifically fact-based. But I know what kids tell me and even in this current generation, which is far more willing and open to this type of bilingual Māori-based approach to learning, by the time you have had five years of it, you are done.  What they failed to grip when they went hell for leather, and this applies to broader life in New Zealand ranging from Māori names of Government departments to news greetings on the TV at night, is if you over-egg it, you get push back, which is where we are right now.  But I think there also must be some acceptance that as a small, insular country at the bottom of the world, when times are tough the world remains shiny and brains gets you access.  I would have once said that most come home.  But I look at our wider family and I'm not sure that’s actually true anymore. See omnystudio.com/listener for privacy information.

Australia's recent election has sparked talks of the 'Trump effect' coming into play.  Prime Minister Anthony Albanese's Labor Party's had a landslide win, securing a historic second term.   It's widely thought Trump's volatility influenced the outcome.   Global Political Expert Nick Bryant told Mike Hosking it's become more apparent the country wanted to elect an authentically Australian Prime Minister, with the landslide win's a rejection of Americanisation.  LISTEN ABOVE See omnystudio.com/listener for privacy information.