The Mike Hosking Breakfast

New Zealand's small regional airlines say business is booming despite challenges in the sector.  Air New Zealand has recently scrapped a number of smaller regional flights.  But Barrier Air has been adding routes, saying they're observing strong patronage.  Chief Executive Grant Bacon told Mike Hosking the industry is in poor condition, but they're happy with their performance.  He says their flights are on average 70% full, with services paying their way for the carrier.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Incoming Public Service Commissioner Sir Brian Roche says taking on the role was a big decision, but he believes he has a contribution to make.   He'll start in the role in November, holding it until July 2027.   Roche has held previous roles across both the public and private sector.   He told Mike Hosking the Government sets the tone for how the public sector works.   Roche says this Government's been very clear in its desire to raise the sector's performance, and he says the sector itself would like to do that.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Another person's been arrested for an alleged assassination attempt on Donald Trump. The former President has been speaking at Coachella, California, three weeks out from election day. Las Vegas man Vem Miller was intercepted by police at a checkpoint about 800 metres from the rally. US correspondent Richard Arnold told Mike Hosking he was carrying a shotgun, a loaded handgun, and a high-capacity magazine. “This bloke was 49, we don’t have a lot of detail about him as yet, but this follows of course the two assassination bids on Trump.” LISTEN ABOVESee omnystudio.com/listener for privacy information.

No Australian Premiers are planning to attend the welcome event for King Charles III in Canberra. King Charles III is visiting Australia and Samoa from this Friday to October 26. He's visiting both Canberra and Sydney, but is not coming to New Zealand. Australian correspondent Steve Price told Mike Hosking the premiers have decided they're too busy to attend the reception for the King next Monday. “Jacinta Allan’s said ‘I got Cabinet on that day, I don’t think I’ll be able to get up to Canberra’ - Canberra is 40 minutes by air from here.” LISTEN ABOVESee omnystudio.com/listener for privacy information.

It sounds good on paper, or in front of your fans, but we need more detail on the so-called Future Fund, the $100 billion it will raise and the tax incentivisation that will be needed to get the money here. It is the new New Zealand First policy. They celebrated their 31st get-together over the weekend. Peters got a reasonable amount of coverage, and it didn’t have too much of the old days about it where the TV cameras wander around looking for weirdos to say funny things. The thing about Government generally is it gives you an element of credibility. In fact, you could argue after 31-odd years, New Zealand First is having its best days ever. Yes, they have been in power numerous times. But so far - touch wood - this time actually seems to be going smoothly. We have had nothing of the previous friction. It is indeed early days, and it is currently helped by the fact the Government is travelling well and is solid in the polls and looks set to hold for a good crack at another term. Indeed, the so-called "green shoots" we are seeing might well turn into a period next year, and into 2026, of decent growth and with it will come the election year optimism that will see a return for another three years. Peters previously, and most certainly this time, is proving to be an outstanding foreign minister, helped in small part by the fact the previous one was historically useless. Back to this future fund - he talks of missing a key ingredient, the ability for foreign investors to truly be part of this country, and to do that you need to buy a house. They can't buy a house because of New Zealand First policy that doesn’t allow it, which seems dichotomous. National compromised in coalition talks and carved out foreign houses as those over $2m but that still wasn't good enough for New Zealand First. It is a failed idea and probably the biggest mistake National made in giving it away. You need foreigners. That part isn't even debated. We need them for labour, for money, as well as culture and population growth. To help that, they need to feel like this is a place to call home. The easiest way to achieve that is to allow them to set up shop in a house. I am convinced the policy will be eventually tipped over, but until it is you can talk about future funds all you want. You can talk about foreign investment all you want. But the door has to be open. Not partially open and not open with caveats. We aren't a big enough deal globally to be forcing such a large compromise.See omnystudio.com/listener for privacy information.

On the Mike Hosking Breakfast Full Show Podcast for Monday the 14th of October, both Seymour and Peters were out over the weekend spruiking foreign investment. So how do we go about achieving it successfully? We are the most expensive place in the world to jump on a cruise ship and travel here, so no wonder there are 20% less on the way. Andrew Saville and Guy Heveldt debate whether Bathurst was exciting or not, Nadal retiring and Mike and Sav's imminent visit to a dingy, dirty pub. 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.

Andrew Saville and Guy Heveldt joined Mike Hosking to discuss Brodie Kostecki's maiden win at Bathurst, Team New Zealand going 3-0 up over INEOS Britannia in the America's Cup, Rafael Nadal retiring, the Black Caps' tour of India, Jimmy Butler's wine cellar, and an imminent visit to a dingy pub. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Controversy in Levin over a recent move to end residential berm-mowing. Horowhenua District Council is making property owners responsible for mowing berms to save about $250,000 a year. Many city councils – like Auckland and Wellington – require owners to mow their own berms, while others – like Christchurch – "strongly encourage" it. Horowhenua District Councillor Sam Jennings told Mike Hosking during consultation most residents supported the change, but public opinion has since shifted. “It’s all blown up on social media just recently, I guess because of the spring growth.” LISTEN ABOVESee omnystudio.com/listener for privacy information.

Foodstuffs is pushing back on claims our groceries cost more than the rest of the world. Year-on-year inflation for comparable products has remained flat on 0 percent, according to the co-op. Blame is being put on GST for pushing up prices – Australia, for example gets, meat, fish, produce, milk and more GST-free. Foodstuffs New Zealand managing director Chris Quin joined Mike Hosking. LISTEN ABOVESee omnystudio.com/listener for privacy information.

NZ First leader Winston Peters says his changes to the tax system to attract foreign investment are aimed at people with more than a “lousy $20 million”. He made the initial announcement before the arrest of two people for allegedly shoving one of his ministers trying to shield him from protesters. His speech at the NZ First conference in Hamilton yesterday to make the announcement was interrupted before Peters was accosted outside the venue. Peters told Mike Hosking the changes to the tax system were there to entice people willing to spend a lot of money. When asked if $20 million would be enough, he called the sum “lousy”. “If someone is going to come in with a lousy $20 million, we wouldn’t consider cutting a deal with them.” Peters has been vocal in the past about his disdain for overseas investors buying property in New Zealand, but said “the right person with the right investment will get the right place”. “There is no reason why you can’t come, you should be allowed to come. “We desperately need the money, we have failed to put away a savings fund … we need to find the money somehow.” He said the tax changes worked in places like Taiwan and Ireland, so “of course it’s going to work here”. “The economy is going to be strengthened by foreign investment.” It comes after two people were arrested for allegedly pushing NZ First Minister Shane Jones as he sought to shield the leader from protesters yesterday. In a statement, police said they were called about 3pm to a Te Rapa property after a report of two people being assaulted. “There were no serious injuries. Two people were arrested and charges are being considered.” The alleged push happened after Peters’ announcement the party will campaign on changes to the tax system to attract foreign investment that will fill the party’s proposed $100 billion future fund. His speech was briefly interrupted by a couple of protesters supporting Palestine in its conflict with Israel. A protester disrupts New Zealand First leader Winston Peters' speech during the party's national convention in Hamilton. Photo / Mike Scott Peters, who is also Foreign Minister, paused as the protesters shouted the well-used pro-Palestine chant, “From the river to the sea”. “Just go home,” Peters responded, adding, “Isn’t it amazing, they think that’s a day’s work.” The protesters were quickly escorted out by security and party members, one of them telling them, “Get the f*** out of here”. Peters was accosted as he finished his speech by other protesters who followed him out after his speech. NZ First Party staff and members intervened to surround Peters from protesters, some being restrained. The protesters shouted after Peters, saying they wanted to debate the Palestine conflict. Police arrested two people after protesters accosted Winston Peters and pushed Shane Jones at NZ First's national conference in Hamilton. Photo / Mike Scott Two people were arrested after allegedly pushing Jones as he sought to shield Peters. Police took statements from witnesses, including those who were caught up in the commotion. Jones told the Herald the man who accosted him “seemed obsessed about skinks and other unintelligible rabble”. “You can’t start manhandling politicians, certainly not when they’ve got their whānau around. “I never said anything to inflame the situation, but my mere physical presence seems to be inflammatory enough as it is.” Jones believed it was a “deliberate attempt” to disrupt the meeting and the incident was a warning for future events. LISTEN ABOVESee omnystudio.com/listener for privacy information.

A pared-back cruise season is underway in New Zealand. The Diamond Princess has docked in Lyttelton this morning, after being in the capital over the weekend. The New Zealand Cruise Association says port calls and passenger numbers are expected to be down 20 percent overall this year. Chief executive Jacqui Lloyd told Mike Hosking costs are largely to blame. “What we’ve seen over the last year is increases in port fees, increases in government levies, increases in regulation, but also we need to throw across the top of that geopolitical concern.” LISTEN ABOVESee omnystudio.com/listener for privacy information.

An easier road for foreign investors looking at New Zealand's companies and property. The Government's new law reforms will allow overseas investment to proceed - so long as it doesn't go against our interests. Associate Finance Minister David Seymour says right now, we rank 38 out of 38 countries for openness to investment. New Zealand Initiative Executive Director Oliver Hartwich told Mike Hosking New Zealand's always been one of the most difficult places for investment. “That part of globalisation has always bypassed New Zealand. Actually, the share of FDI in our GDP is lower than it used to be 25 years ago.” LISTEN ABOVESee omnystudio.com/listener for privacy information.

An Auckland police boss says gangs play a big part in gun crime – but it's not just gangs. RNZ reports there were 879 gun crime offences across Auckland in the first six months of the year - 28 more than the same time last year. Just 18 of those were committed by people with a firearms licence. Police Assistant Commissioner for Auckland Sam Hoyle told Mike Hosking that covers everything around gun offending. He says from teenagers playing with imitation weapons to high end, they're seeing it across the spectrum. LISTEN ABOVESee omnystudio.com/listener for privacy information.

An Australian Chief of Staff claims they’ve been bullied out of a job.  Jo Tarnawsky, former chief of staff to Richard Marles, says she was forced out of her job after seeking help over workplace bullying.   She claims that the Deputy Prime Minister essentially removed her from her role in a phone call in April, without the proper process.   Australian Correspondent Murray Olds told Mike Hosking that she’s apparently been locked out of her office since, unable to work.  He's unsure where this will land, but Olds says the Labour Party needs this like a hole in the head.  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.    Ships: 1/10  Two in a week with issues, one admittedly more serious than the other. What is it with this country and ships?    Nobel Prizes: 8/10  They get scant coverage in a world that has never been more desperate for brilliance and individuality and the celebration of the human spirit and achievement.    Home ownership: 8/10  Surely the hero number out of the census - more of us own a home. That's not what the rhetoric will tell you.    Keir Starmer: 3/10  Have you ever seen a politician take a victory the size of his and cock it up quite so quickly?    Jimmy Spithill: 7/10  Good guy, great athlete and a very big contributor to the America's Cup. He's quite possibly leaving a bit too soon.    School holidays: 6/10  They're almost over. Well done all grandparents who did the heavy lifting of grandkids, who on day one seemed cute as but by day seven were ungrateful little snots.    LISTEN ABOVE FOR MIKE HOSKING'S FULL WEEK IN REVIEW See omnystudio.com/listener for privacy information.

Another of the small gems to come out of the Census is that we are working less.  Does that surprise you? It doesn’t remotely surprise me.  I still connect work with success in the sense that attitude in life is everything and people with the right attitude tend to be successful and work hard.  They tend to get stuff done, they tend to have ideas, and they tend to be more upbeat, more into life, and more active.  The malaise that this country has gone through as a result of Covid is reflected in the various approaches to work that have come out of it. We don’t like work, we want four-day weeks, we want to not come to the office, we like the unemployment benefit, and we like quiet quitting.  There are in fact only 2.6 million of us in work. Think about that. Half the country works, half don’t. That’s not a lot of people to raise the money to pay for all the stuff we want.  Upon finding out that we work less, good old Radio New Zealand (who else) went straight to the sort of person you would expect to seize upon our approach to work to have them espouse the idea that we should, in fact, work less!  Yes, they rang some academics. People cloistered away from the real world, to tell us we should be working less.  Not only did they want us to work less, they proffered the idea that if we worked less our productivity might go up.  Productivity is the age old debate. The simple truth is we know we are not very productive as a country and we want to improve that, so we have talked about it for literally decades, and yet, have we improved it? No we have not.  I can tell you for nothing that working less does not productivity improve.  There are of course smarter ways to work. Set the task and get it done, less mucking around, fewer road cones and smokos and more digging the hole. That sort of thing.  I was going to say I actually like work. Work is good. You have to enjoy your work of course, and for many I think that is probably part of the productivity issue. If you don't like your job, it's hard to do more of it.  But enjoyment is a choice and, certainly for most, what you do for a crust is a choice.  From personal experience, if you love what you do it's not actually work. And maybe if we broke the mindset that work is a problem and work is bad then we wouldn’t be as unproductive, and they might be able to find an academic who says we should work more because it's good for you. See omnystudio.com/listener for privacy information.

On the Mike Hosking Breakfast Full Show Podcast for Friday 11th of October, the Government books are in worse shape than we thought, so is this bad from a reputation standpoint for a National-led Government? Steven Joyce joined the show to discuss.  The Auld Mug is officially up for grabs as of this weekend, so Team NZ boss Grant Dalton talks to Mike ahead of the race.  Mike has an issue with the new Afternoons hosts Tyler Adams and Matt Heath, so he aired his grievances to Kate Hawkesby and Tim Wilson while Wrapping 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.

The end of the week has come, and Kate Hawkesby and Tim Wilson are back to Wrap the Week with Mike Hosking.   They discussed how often they wash their towels, junk mail and letter boxes, and how the school holidays are faring.  Plus, Mike has a bit of an issue with the new Afternoons hosts Tyler Adams and Matt Heath. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Team New Zealand will finally return to match racing on Sunday morning when they begin their best-of-13 series against Ineos Britannia in Barcelona.  The match will be the first competitive racing in a month for Team NZ, who showed some impressive signs in the preliminary regatta and round-robins, before leaving the stage to let the remaining challengers duke it out.  Ineos Britannia were the last challenger standing after eliminating Luna Rossa Prada Pirelli in the Louis Vuitton Cup final, meaning they’ll be the ones facing off against Team New Zealand.  CEO Grant Dalton told Mike Hosking that Ineos Britannia will likely be tired coming off their Louis Vuitton Cup win, and they’ll have to be able to put it behind them quickly.  He said that although there’s a disadvantage in not having raced for a month, they also had the opportunity to develop their boat.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The full extent of the damage caused by Hurricane Milton remains to be seen.   The hurricane caused storm surges, tornadoes, strong winds, heavy rain and flash flooding across Florida, and NBC is reporting 12 deaths.   Around three million properties have been without power, and authorities are working to restore that and fuel supply.  Reporter Dave Elias told Mike Hosking that they’ve had helicopters and drones out surveying, but much of the damage still remains to be seen.   He said the one good thing is that both the State and Federal Government were well prepared, with electrical crews set up and ready to go once the storm abated.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

A call to action from Federated Farmers Southland for locals to boycott Fish & Game.  It wants members to block anglers from their land by removing access signs, replacing them with an orange ribbon.  It follows a court decision requiring many of the region's farmers to gain a resource consent to lawfully operate.  Fed Farmers Southland President Jason Herrick says they're fed up with Fish & Game's anti-farming rhetoric.  He told Mike Hosking that it’s been an ongoing process with Fish & Game pushing back against everything they’re doing, and this is the straw that broke the camel’s back.  Herrick says that in their opinion, the court decision being made by one person, is not democratic.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

There’s a feeling bad blood may linger in Wellington City Council.  The council has voted to overturn its decision to sell the city's 34% stake in Wellington Airport after a process one councillor described as the “dirtiest politics” she's been involved with.  Mayor Tory Whanau's suggesting the council will have to look at further cuts in the wake of this decision.  Councillor Tony Randle told Mike Hosking he only agreed to sell the shares if it kept the millions of dollars as emergency funding.  He says when they saw the Long Term Plan was going to spend this money, he withdrew support.  Randle says it's been rough for everybody, and things have been said that will be hard to un-say, but the council needs to move on.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Former Finance Minister Steven Joyce says there are some things worth celebrating amidst a grim outlook on the economy.   Treasury documents show the Crown's deficit has grown $3.4 billion dollars in the year to June, to $12.9 billion.   Spending is outpacing income despite revenue increasing by $14 billion.  Steven Joyce told Mike Hosking that recovery will be tough, but there are some positives shining through.  He said that while the country’s net debt doubled post-Covid, we’ve got inflation under control.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

A new frontrunner has emerged in the race for the Tory leadership.  James Cleverly has shot to the top after the latest vote, taking 39 of the 120 votes.  Kemi Badenoch and Robert Jenrick are battling for a spot in the final two, taking 29 and 30 votes respectively, and Tom Tugendhat fell short at only 20 votes.  UK Correspondent Rod Liddle told Mike Hosking that Badenoch is almost certain to become the next leader of the Conservative Party.  He said that her win would be bad news for Starmer, as of all the candidates lined up to potentially replace Rishi Sunak, she is the one who could cause the most damage at the dispatch box.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Universities are a bit of a minefield at the moment.  Grant Robertson has gone to run Otago, Auckland has introduced a Māori-related compulsory course which has received surprise and push back, and AUT has been giving out free points in a race-based travel rort, where if you're Māori you get a better chance at travel funding than if you're not Māori.  So when the latest international university rankings were released yesterday the fact Otago is at its lowest ranking ever will come as a good chance to offer a decent serve to old Grant "can't run an economy, can't run a university" Robertson.  Auckland was another who fell out of the top 150 for the first time. So, once again, a chance to have a crack.  There are other rankings and depending on which ones you look at depends on how they are judged. Overall, you can argue we are not particularly high up in global terms.  Auckland as our top facility outside the top 150 doesn’t sound very encouraging, because it isn't.  Otago is so far down the list they don’t even rank them specifically. It's just a band and they have gone from the 301-350 band down to the 351-400 band. They might be 399th in the world. Surely there's some reputational work to be done?  I note Otago defended themselves by saying they were disappointed, but no New Zealand university had improved, sort of in a "well we are all a bit useless then, aren't we?", kind of way.  Having had a bit of experience with universities these past few years —two of our five have, or are, attending and a third is about to go— the unmistakable reality that smacks you in the face is the wokeness of it all and the stench of indoctrination about the place.  They are there to fill your head with the stuff they believe to be correct.  You think their way or you are wrong. A lot of it is race-based and it's unappealing.  Mind you, I'm older. Maybe young kids lap it up, or think they lap it up, until they mature a bit.  But even the teaching brigade at some of these places have voiced their concerns around freedom of speech and when you add the concerns to the rankings, the overall picture painted is not flattering.  Because they are so woke my fear is a ranking like this will not be seen as a reason to change, or improve, but yet another reason to dismiss those who can't possibly know what they're talking about. See omnystudio.com/listener for privacy information.

The US Wine Market may be becoming more lucrative than the one back home.  The owner of Te Awanga Estate in Hawke’s Bay is looking to sell up his restaurant, vineyard, and cellar door and focus his efforts on exports.   Owner Rod McDonald told Mike Hosking that they’ve got really exciting opportunities in the US, so they had to weigh up the hard work of the New Zealand hospo industry against what potentially lies ahead stateside.  He said they have to allocate their resources where you think they’ll get the best return.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

It’s coming full circle for Malcolm Gladwell.  Twenty-five years after the success of his first book ‘The Tipping Point’, he returns with a brand-new volume, reframing those original lessons.   ‘Revenge of the Tipping Point’ returns to the topic of social epidemics and tipping points, this time with the aim of exploring the dark side of contagious phenomena.   Gladwell told Mike Hosking that his success came from a “healthy dollop of luck”.  “I read lots and lots and lots of books which I think are first class and that sell vanishingly small amounts of copies, so I don't think that writing a brilliant book is a guarantee of success.”   In the years since that first publication, Gladwell has written a number of best selling books, and he believes the secret to his continued success is writing the things he’s interested in.  “You have to have confidence, in other words, that your interests are shared by others.”  LISTEN ABOVE See omnystudio.com/listener for privacy information.

On the Mike Hosking Breakfast Full Show Podcast for Thursday 10th of October, how will the OCR drop affect all of us? ASB boss Vittoria Shortt talks about what happens going forward.    Transpower are giving $1 million to "projects benefiting Northland". A token gesture to get people to go away or a genuine attempt to apologise for what happened? The acting CEO is on the show to discuss the payment.  'The Tipping Point' author Malcolm Gladwell is revisiting his first success with his new book 'Revenge of the Tipping Point', returning to the show after eight years for a chat with Mike.  Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.  LISTEN ABOVESee omnystudio.com/listener for privacy information.

A token for the Northland community in the aftermath of the collapsed pylon calamity.   Power was cut to about 88,000 homes and businesses in June, when an Omexom worker unfastened three legs of a Transpower pylon.   The electricity provider and its contractor are now putting $1 million towards a regional energy package, to be used for community projects and economic development.   Transpower Chief Executive John Clarke told Mike Hosking he recognises the scale of economic loss is far greater.   He says Transpower is responsible for its contractor and is comfortable with a 50-50 arrangement.  Clarke told Hosking that it’s not about compensation, but rather it’s something to help the Northland community move forward and deal with some of its challenges.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Emergency Management Minister's motivated to strengthen the country's disaster resilience in the long haul.  The Government's released a long-term vision for the system over the next five years, which includes creating a "whole of society" approach, and building the capability of the workforce.  Mark Mitchell says recent weather events show the current system isn't fit for purpose.  He told Mike Hosking there's a high-level of first responders across the country, ready to respond to emergencies.  Mitchell says they need to be better supported by legislation, more training, and a bigger investment into systems.  He says they've learned from events like Cyclone Gabrielle and is confident future disaster responses will be better.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

There's a belief the Government's FamilyBoost rebate is working, despite a lack of interest from eligible families.  The new scheme is a hallmark policy of the Government's first Budget, offering financial support for early childhood education.  It's been open for three weeks and less than half of families eligible have applied to receive it.  Early Childhood Council chief executive Simon Laube told Mike Hosking it's an impressive start.  He says it would take three or four years to do the same through ECE funding.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Hurricane Milton has more than doubled in size as it heads towards land in Florida.   Its wind field extends around 400 kilometres from the centre.   It is still a Category 4 hurricane and is expected to make landfall later today.  Officials have warned life-threatening storm surge, destructive winds and flooding will happen.   Reporter Dave Elias in Fort Myers told Mike Hosking the rapid intensification that occurred with Milton was unlike anything they’ve seen.   He said that whether or not it slows down before hitting the Gulf Coast remains to be seen, but that’s what everyone in the region is hoping for.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Kiwis could expect another cut to the Official Cash Rate before Christmas.  The Reserve Bank has cut the OCR by 50 basis points, following a 25-basis point cut in August.  Banks are following through with further interest rate cuts.  ASB Chief Executive Vittoria Shortt told Mike Hosking the neutral rate is about 3.25%, so the central bank still has a way to go.  She says it could drop another 50 basis points next month, provided inflation is back under control.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Kiwibank has already made a cut ahead of this afternoon’s OCR announcement.  The Reserve Bank is set to announce a cut to the Official Cash Rate, with economists and the market predicting a cut of 50 basis points.  Kiwibank has taken 50 basis points off their floating loan rates, potentially pre-empting the bank’s decision.   CEO Steve Jurkovich told Mike Hosking that they’d be disappointed if the Reserve Bank were to only cut by 25 points.  He said that people, businesses, and their customers are really, really hoping for 50, and he thinks it's the right thing to do.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

There are some dumb games being played at the moment in the very serious business of health.  Health NZ is in the red to the tune of $1.7b - that's for the year. They are over budget by $1.7b.  That’s why Lester Levy got to be Commissioner and all the others were let go.  Game one is the Labour Party, who have of course zero credibility when it comes to money, who are claiming the $1.7b is because Health NZ is underfunded.  I have seen the budget-on-budget comparisons. They are not underfunded.  Ayesha Verrall is playing with numbers in a "Ginny Andersen-have-you-see-how-many-cops-are-on-the-beat" kind of way.  Dumb game number two comes from the unions, also with zero credibility around economics. They argue their equity pay claim, this was when we gave nurses a massive pay rise of $400m, should not be part of the $1.7b because they were told it was coming from "another pot".  Sadly other pots aren't real. What's real is what it costs to run the health system and what it costs is more than they have, hence they are in the red to the tune of $1.7b and part of the cost is what we pay nurses.  The culmination of Labour and the unions’ dumb game is that, allegedly, the Government are manufacturing a crisis.  The trouble with numbers, generally speaking, is they are what they are.  We deal with this daily with our bank balances. If we are overdrawn we are, generally, not manufacturing a crisis or we haven't been underfunded, we are just overdrawn and we need to live within our means.  The unions and the Labour Party have never really had any trouble living beyond their means and that is why, more broadly speaking economically, we have had three recessions in two years.  We have not, and still don’t, pay our way.  If there's any good news it's that at $1.7b a year, surely there is a lot of waste in there?  If Erica Stanford can find $100m on a Māori language course that was producing little if anything, Lord only knows what you can find in the $30b of health money.  But the most valuable skill we can bring to such matters at the moment is realism. Economic realism.  We are broke. We are overspending. And fudging numbers and playing dumb games doesn’t help. See omnystudio.com/listener for privacy information.

Is the rugby league season getting too long?  The season is about to get longer, as the Kiwis take on Australia and Tonga later this month.  Kiwis Selector Tawera Nikau told Mike Hosking that the length of the NRL season becomes a bit of a problem at the back end.  He said it’s not a lack of willingness from the players, but rather the state they’re in by the end of 27 rounds.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Buyout blueprints are “on the way” after the severe flooding in Dunedin last week.  Emergency Management Minister Mark Mitchell says they’re currently building legislation that can be used as a template for future disasters, streamlining the process.  He told Mike Hosking that in terms of recovery, they’ve definitely moved the needle, and he’s hoping they’ll have most of the buyouts completed by the end of the year.  Labour’s Ginny Andersen said that there are parts of New Zealand that will continue to be hit by weather events again and again, and the difficult question will be how, over the next 20 years, the safety of those communities can be improved.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

On the Mike Hosking Breakfast Full Show Podcast for Wednesday 9th of October, we look at what Adrian Orr may do with the OCR today as well as the Government’s crackdown on dodgy builders.    We've got new data as to how the Health NZ deficit blew out, so Commissioner Lester Levy is on as they try to turn it around.  Ginny Andersen and Mark Mitchell talk Dunedin Hospital and buy outs for flood victims 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 Health Commissioner's pushing back on claims Health New Zealand's dealing with a manufactured crisis.   The agency's finances jumped from a half-a-billion dollar surplus to a $1.4 billion deficit in April, now expected to blow out to $1.76 billion.   Some have argued this comes down to its lack of funding.   But Lester Levy told Mike Hosking health expenditure's been increasing year-on-year for a long time.   He says we currently have more revenue going into the agency than we have previously, even at the height of the COVID-19 pandemic.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Reserve Bank could still surprise us with this afternoon's Official Cash Rate decision.  Interest rates have been falling, with markets pricing in a 50 basis point cut.  But former Reserve Bank economist Michael Reddell says the central bank may opt for another option, like a 25 basis point cut.  He told Mike Hosking when he was on the Monetary Policy Committee that makes the OCR decision, they always received advice on what the market and economists were expecting.  But he says they're never swayed by those decisions, and make their own decisions based on their own forecasts.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Government promises it's pulling all the levers to bring down driver licence wait times.  It's allowing people to drive on an overseas licence for 18 months in November, extending it from a year.  The Transport Minister's admitted there's still more work to do after scrapping the unlimited free driver licence re-sit policy.  Simeon Brown told Mike Hosking NZTA is speeding up the training process as well.  He says the Transport Agency's recruited extra training officers.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

There’s a belief the problems in the building industry are due to an insufficient number of pre-requisites.  The Government's looking at changes to registration and licensing regimes, with a focus on lifting competence and accountability requirements.  Larger fines could also be on the cards for individuals and companies for hiding non-compliant work during inspections.  New Zealand Certified Builders chief executive Malcolm Fleming told Mike Hosking it's more of a skills issue.  He says the bar for entry-level builders is far too low, and needs to be tightened up.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

People in Florida are urged to evacuate before Hurricane Milton hits.   US President Joe Biden has warned it could be the worst storm in a century.   It comes just two weeks after Hurricane Helene killed around 200 people and caused damage in Florida, Georgia, South Carolina, North Carolina, Tennessee, and Virginia.   US correspondent Richard Arnold told Mike Hosking that last night, it gained strength so fast it became one of the strongest Atlantic storms ever recorded.   He says some Florida weather forecasters were in tears on air because of what they were seeing.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

I was going to suggest we are petty, but I have been saved by the Brits.  They are having a couple of debates over money.  One is involving a woman called Sue Gray, who has quit, and the other is over the role of Cabinet Secretary, which is the country's top civil servant, a job which is currently vacant given the incumbent stepped down for health reasons.  As it turned out, Sue Gray was earning more than the Prime Minister which, for reasons I'm not entirely sure about, needed to be turned into a scrap.  There are plenty of civil servants here who earn more than the Prime Minister and we don’t seem to have a problem with it. But it appears we don't like it if the Prime Minister is a bit wealthy.  But I'll come back to that.  The Cabinet Secretary in Britain is paid $200,000 a year and a bloke called Lord Gus O'Donnell, who used to do it, is busy running a campaign arguing it's grossly underpaid.  As for Ms Gray, she was on $170,000 a year while the Prime Minister is on $166,000. When this was revealed she became a distraction, so she quit.  Ironically, she has a new job that no one seems to understand, which is one of the ironies of this whole jealousy driven nonsense. Would you rather a person in a high-performing role got more in a job you understand, or they get less in a job you have no idea just what it is they do? The fact they may or may not do anything is beside the point, right?  Which brings us back to the current Prime Minister here, who because he sold a couple of rentals, is clearly far too wealthy so we need a good b*tch about that as well.  The fact the National Party Prime Minister before him was a mile more wealthy again never really seemed to bother anyone, so maybe it’s the post Covid / Cost of Living angst that got so many so upset.  If you want something to exercise yourself with, how about the Prime Minister who ran the country into the ground then scarpered to write a book and wander the speaking circuit, creaming it by making money from her ineptitude and our subsequent economic misfortune.  What's worse? A civil servant working God-knows how many hours for $200,000, a Prime Minister on $484,000 but with a couple of properties he made money on, or a fly-by-nighter who came second in one election, locked us down for the second, buggered it up in record fashion and then fled to make a fortune telling people how kind she is.  Some people and jobs are worth the money. Some aren't.  But jealousy is a wasted emotion. See omnystudio.com/listener for privacy information.

The UK Prime Minister’s chief of staff has quit her role, saying she “risked becoming a distraction”.  Sue Gray was caught up in a conflict over pay, after the BBC revealed that her salary was higher than Prime Minister Sir Kier Starmer’s.   UK Correspondent Rod Liddle told Mike Hosking that this is quite a remarkable decision.   He said that in the last six to eight months, Starmer hasn’t sacked anyone despite there being calls.  Liddle says the howl within his own camp had become so grave that he could do nothing other than accept the resignation.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The rubber has hit the road in the US Election.   Just one month out from voting, the debates have been wrapped up and the only thing left is for the candidates to continue campaigning.   It’s a tight race, with Kamala Harris maintaining a narrow lead in key battleground states.  Former US Correspondent Nick Bryant told Mike Hosking that Harris has turned out to be a better candidate than many expected.  He said that while there has been some mixed messaging and Harris has some weaknesses, she is a strong candidate.  Trump is also struggling with messaging, Bryant says.  The former President doesn’t seem to be as strong a candidate as he was in 2016, and he’s not as sharp or articulate as he used to be.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Mortgage rates are continuing to fall, but it isn't getting any easier for many people to access bank loans.  Latest figures from interest.co.nz show one-year mortgage rates have fallen to around 6.33%, down from about 7.35% in January.  But banks have told our newsroom they're still testing applicants at between 8.5 and 8.7%.  Loan Market Mortgage Advisor Bruce Patten told Mike Hosking that banks are being overly cautious at the moment.  He said that it won’t be until inflation rates get back to normal that they’ll ease off on the caution.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

On the Mike Hosking Breakfast Full Show Podcast for Tuesday 8th of October, we finally hear from the Navy about the HMNZS Manawanui sinking, and David Seymour previews his Treaty of Waitangi debate taking place tonight.  The Prime Minister is in studio to talk about some of the under-fire ministers, where the $3b figure came from for Dunedin Hospital, and if we have money for a new naval ship.  A month out and we are on the final stretch for the US election. There's no more debates and no more court cases, just regular campaigning. Nick Bryant gives his thoughts.  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.

TVNZ's potentially looking at a challenge as it looks to further compete against streaming sites.  The state broadcaster's consulting with staff on shutting its 1News website in February and investing in streaming service TVNZ+.  TVNZ has a savings target of $30 million and has already axed its midday and late night news bulletins, as well as said goodbye to its 'Fair Go' show.  Media commentator Gavin Ellis told Mike Hosking there are some huge risks.  He says it's moving from a broadcast environment where they're a dominant player into a streaming environment with the likes of Netflix.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Moves have been made by the Chief of Navy to shut down speculation about the loss of the Manawanui.  The $100 million naval vessel was surveying the area off Samoa's coast on Saturday, when it hit a reef and sank the following day.   Most of the 75 rescued crew members have returned to New Zealand, with the final few flying back today.   Divers are heading out to the site today to assess the depth, the condition of the ship, and any presence of oil.   Rear Admiral Garin Golding told Mike Hosking a Court of Inquiry's being set up to understand the facts, and speculation is unhelpful.   He says they will do a number of interviews to get to the bottom of what went on, and in time, exactly what happened will be released.  LISTEN ABOVE See omnystudio.com/listener for privacy information.