Afleveringen
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What is the matter with Labour? They are giving me free doctor’s visits – I don’t want them or need them.
Now they are giving me free prescriptions… it’s tens of millions of dollars we don’t have, handed out to people who don’t need it. Some people need it – give it to them.
You are literally wasting money giving these things to anyone on a half-decent salary.
Now, the real problem with the policies is they are paid for by the capital gains tax. Now, in case you haven’t worked it out —given it’s not retrospective— they have no income from capital gains and won’t until lots of people with investment or secondary homes start selling them.
The bill, though, for the policies kicks in on day one.
So already they are running a credit card on their promises.
But the really major problem with the capital gains tax is it’s predicated on projections that have not —and indeed are not— turning out to be true.
For the last several years, property prices have gone nowhere.
The Labour forecasts are based on 3% a year. We have not returned 3%, or anywhere close, for years now.
The property flatline has been in place since COVID, and it’s not growing 3% this year. It might —big might— start getting close next year. But for every year it doesn’t, you need extra growth to make up the difference, all the while the bills for the free scripts, scans, and visits are real and piling up.
So it’s a twofold problem: they hand out money they don’t have to people who don’t need it. And they haven’t got the money anyway to hand out, given it hasn’t been generated, and they have no way of knowing when —or if— it will be.
In the meantime, it’s on the debt pile, which is already 47% of GDP, which, in case you forgot, was 19% of GDP until the old Labour Party arrived in 2017.
So from 19% to 47% – and now clearly more where that came from.
If voters are interested in detail and fact, this sort of cost-plus policy nonsense is a recipe for yet another economic disaster, and I thought in 2020 we decided we weren’t making that mistake again.
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Friday has arrived, so Kate Hawkesby and Tim Wilson are back with Mike Hosking to Wrap the Week that Was.
They discussed Mike and Kate’s holiday, travelling, and the newest business to take over the kiosk in the courtyard outside NZME.
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Zijn er afleveringen die ontbreken?
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The Warriors are headed south, playing their first match at Christchurch’s new stadium.
Three Warriors teams are set to run out onto the field as part of a festival of footy, the day ending with the NRL clash against the North Queensland Cowboys.
Tickets for the event sold out in a few days, making it the club’s fastest-selling regular season match since their debut against the Broncos in 1995.
CEO Cameron George told Mike Hosking it’s a real privilege to come to places like Christchurch and sell out so quickly.
He says there’s a huge buzz around town, and come Sunday, he’s sure there’s going to be an electric atmosphere in the new stadium.
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On the Mike Hosking Breakfast Full Show Podcast for Friday 19th of June, Finance Minister Nicola Willis talks the state of the economy after the Q1 GDP number and makes a comment about Shane Jones' trip.
Wellington's Chamber of Commerce celebrates the cancellation of the Golden Mile project but still wants something to be done about Courtenay Place.
We preview the Super Rugby Final with the Hurricanes' Malcolm Gillies and Chiefs' Simon Graafhuis and celebrate yet another Warriors sellout —this time in Christchurch— with Cameron George.
Tim Wilson and Kate Hawkesby Wrap the Week – discussing the holiday and the new business that's popped up near Newstalk ZB.
Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.
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The battle for Super Rugby supremacy takes place on Saturday night with the two best teams across the season battling it out for the championship.
Both the Hurricanes and Chiefs finished the round robin stages with an 11-3 record, but the former ended up finishing four points higher on the standings due to bonus points.
The Hurricanes are hosting the clash at Hnry Stadium – 34,000 tickets selling out in just 15 minutes.
Hurricanes Co-Owner and Chairman Malcolm Gillies and Chiefs CEO Simon Graafhuis joined Mike Hosking for a chat ahead of the final dance.
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Turbulence for Air New Zealand's New York route.
New data shows the airline's US route flew more than 34 thousand empty seats between January and February.
Load factors reached 75% during the peak summer – well below its target of 80–85%.
Forsyth Barr Head of Research Andy Bowley told Mike Hosking the numbers are below what the airline would typically see across its network.
But he says an ultra-long-haul route does have some weight limitations, and it's unknown how the load factor is affected by weight limitations.
The airline is also due to have their new 787 Dreamliners on their route by December, which Bowley says will have a significantly lower number of seats, with more premium seats and less economy seats at the back of the plane.
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The marine conservation group that spearheaded opposition to the controversial Fisheries Amendment Bill is breathing a sigh of relief that it's been delayed.
Fisheries Minister Shane Jones has revealed the bill won't be passed before the election.
The Government had already U-turned on a controversial proposal to reduce minimum size limits for commercial fishers, but was planning to push ahead with other changes, like a ban on releasing on-board footage of fishing boats.
LegaSea Programme Lead Sam Woolford told Mike Hosking he's relieved common sense has prevailed.
He says the bill was wrong and unworkable.
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Businesses in the capital are looking forward to more certainty, with the controversial Golden Mile project now officially canned.
Councillors voted yesterday to scrap the CBD upgrade plan in favour of more modest upgrades.
It follows a review last week finding further budget blowouts were likely.
Wellington Chamber of Commerce Chief Executive Hayley Horan told Mike Hosking businesses want a more vibrant city and are now feeling like they're at the table.
She says the years of reviews and re-scopes have been exhausting, so having a decision beats another year of limbo.
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Nicola Willis says the Government's focused on the country's long-term economic outlook.
GDP's risen 0.8% in the March quarter.
The Economic Growth Minister says the June quarter won't be as sunny, as many businesses and households have been hit hard by the Iran war and fuel crisis.
But she told Mike Hosking the global oil prices are tracking lower than Treasury had forecast.
She says there's every reason to believe that flows through to lower prices at the pump, lower inflation, and better prospects for the economy overall.
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Consumer confidence is in the doldrums again.
We are a flakey old society. They’ve seen something similar in America. Take a single confidence reading and you’d believe it’s the end of the world.
But the metrics on jobs and spending defy the mood.
Which would lead you to believe what people say and what people do are often different things.
We are sitting at 80. It’s fallen 14 – that’s a lot. 100 or more is positive. We are far from positive.
If it helps, I am positive. Could I find stuff to be negative about? Yes, I could. We all could, at any time, no matter what’s going on.
But take spending. Data out this week from last month: it was up, and up a lot. Durables were up. Durables are things like sofas and fridges. Why would you buy a sofa if you are miserable? And yet we did.
Oil this week is down. A lot. That money will go into café lunches and movie tickets. Things are getting better.
I think it’s a “fear the worst” mentality that we suffer from.
The food price stats yesterday, they are virtually normal. In other words, in the Reserve Bank band. No extra inflation from the war.
The interest rate hikes that were going to be needed to tame the so-called runaway secondary costs landing on our beleaguered economy may not be needed.
Now, the common line used is yes, some are doing it tough; no, we are not out of the woods – and all of that is true.
But it isn’t as bad as most predicted. The facts cannot be denied unless you have a political agenda and it suits you to deny them.
In other words, if you look on average at the facts, most people have work, most people are under financial control. The banks tell us this. Spending is up. We have some savings. And looking forward, the war is over – things will get better.
The GDP today tells us what we were travelling like pre-war, and that was pretty good, thank you.
So the facts do not equate to the 80 in confidence.
Now be miserable if you want, it’s a free world. But I’m not, and I reckon I’m better for it.
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British TV celeb Jeremy Clarkson announced a cancer diagnosis on the latest episode of Clarkson's Farm.
The 66-year-old pre-warned Instagram followers it would be a difficult watch, without revealing why.
He let out the news in a sombre chat with programme stalwarts Kaleb Cooper and Charlie Ireland.
UK Correspondent Enda Brady told Mike Hosking the one good thing that’s come of it is the number of men now talking about prostate cancer and the test.
He says Clarkson’s shone a light on farming, and him making a full recovery from it and speaking about it will do a lot of good.
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Charlie Puth has been busy.
In 2026 alone, the Grammy-nominated and multi-platinum singer has had his first child, released his fourth album, ‘Whatever’s Clever!’, and begun touring said album.
He’s just wrapped up the US leg of his tour, which included a performance at the iconic Madison Square Garden, and is now preparing to hop on a plane to start the European leg.
And that’s not where it ends, as Puth will be bringing the show to New Zealand’s shores in November of this year.
Performing at Madison Square Garden is widely considered to be a pinnacle moment in an artist’s career, and according to Puth, it is definitely all it’s cracked up to be.
“For me especially, just because I’m basically from here, so it’s very full circle,” he told Mike Hosking.
“The first show I ever played was in the West Village for 100 people, and we sold out Madison Square Garden, which is a little over 16,000 people.”
“It’s very full circle for me.”
Adding to the feeling were the guests Puth brought out on stage during the performance, Art Garfunkel, Jimmy Fallon, Busta Rhymes, and Kirk Franklin – all people who inspired him musically.
Performing with Art Garfunkel, of Simon & Garfunkel, seems to be a particular highlight, as Puth’s a big fan.
“It was an honour to bring them back out there, and everybody, there was such roaring applause from everybody – kids to adults. His music is so universal.”
And while his visit to New Zealand is still a while away, Puth says it’s definitely on his radar.
“I’m really excited to come back.”
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Dame Noeline Taurua intends to claim the trophy at the upcoming Commonwealth Games.
Yesterday saw her unveil the Silver Ferns squad that will open play in Glasgow against Scotland.
It follows a tumultuous year that saw her stood down as coach, reinstated, and return to the top job.
Taurua told Mike Hosking they’re going there for a podium – that's their expectation and intention.
She says she’s really comfortable and confident with the squad she named.
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On the Mike Hosking Breakfast Full Show Podcast for Thursday 18th of June, ANZ's Sharon Zollner gives her pick for what the Q1 GDP number will be.
Winston Peters doubles down on his calls for those involved in the MBIE scandal to be arrested.
Mike asks Waitomo's Simon Parham whether the Commerce Commission's warning about petrol prices is justified.
Dame Noeline Taurua talks through her Silver Ferns' Commonwealth Games squad – and surprises Mike with one of her answers.
And global popstar Charlie Puth is coming back to our shores, so he joined Mike to talk his Super Bowl performance and his love of Paul Simon.
Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.
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Officials are continuing to closely monitor petrol stations to ensure any fall in global oil prices is passed on to Kiwi consumers.
The Commerce Commission says it was reasonable for businesses to raise their prices as wholesale prices rose.
But it says they also need to reduce prices as wholesale prices fall.
Waitomo Fuel CEO Simon Parham told Mike Hosking that's exactly what they're doing – they’re now selling 91 at below $3 per litre across their whole network.
He says often people are hyper-aware when prices go up but then loose attention as prices do down.
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ACC hopes the economic toll of workplace and accidental injuries can be brought under control.
It's latest injuries report shows $3.1 billion was spent on weekly compensation last year.
It estimates there was $8.7 billion in lost productivity.
Chief Executive Megan Main told Mike Hosking they're improving recovery times through earlier intervention, but reducing the overall cost of injuries will require a wider effort.
She says every Kiwi needs to be thinking carefully about how not to get injured, and employers need to support people back to work.
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The chief economist of our largest bank says there's no reason our economy can't bounce right back if the Iran peace deal lasts.
GDP data due to today is expected to show the economy grew between 0.7% and 1% in the March quarter.
A contraction is possible in the June quarter.
But ANZ's Sharon Zollner told Mike Hosking things should hopefully pick up again, straight away.
She says interest rates are high, and the world may remain weary for a while, but commodity prices are high and the Kiwi dollar is quite soft.
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The Social Development Minister's standing by her changes to the welfare system.
Louise Upston wants to slash the number of people on Jobseeker to 140 thousand by 2030.
Labour claims they're on track to miss the target by more than 60 thousand people and their current approach isn't creating the right conditions to help people into work.
But Upston told Mike Hosking she's serious about every single person on Jobseeker.
She says MSD is more proactive in working with employers and job seekers and making important matches to get people into work.
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Winston Peters says MBIE's size is an issue as he calls for the officials involved in the latest scandal to be jailed.
Immigration Minister Erica Stanford says she was misled about cost increases for a project to upgrade border biometric systems, wasting more than $30 million.
The Public Service Commission is investigating officials’ behaviour.
The New Zealand First Leader told Mike Hosking MBIE is far too big and is covering far too many areas.
He says the computer programme INCIS was a failure, and the National Library computer programme and Transmission Gully both went over-budget.
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For those of you who were super keen to hear from the Labour Party in an election year as to what they might have in mind for policy, my question to you is: now that they have started handing out the ideas, does the size of the cock-up make you wish they hadn’t?
Or can you believe the incompetence of past years hasn’t been addressed?
The bus idea that isn’t $65 million, but, according to economists, possibly well over $100 million.
The cancellation of primary testing that’s been released, seemingly through Ginny Andersen’s Substack of 115 followers.
The doctor visits policy that pays for millionaires to go to the GP.
And the pay equity promise that, despite the fact all would be revealed post-Budget, has still not been revealed – or anywhere close.
You have two things in an election year: the policy itself —and we debate those as ideas around ideology and workability— and the bill for any such idea.
The latter is of increasing importance in recent years because the previous Labour Government spent all the money – and then some. And we still have no money.
Therefore, simply dreaming up ideas with no bills attached is no longer acceptable to most voters
Or is it? That is my other great conundrum in this current election year.
Can a party that might well be Government promise something with an $11 billion price tag, not explain where the money comes from, and still get away with it anyway… given the punter isn’t really that interested?
Polling might help, but that’s another conundrum. Do I trust polling? No. The participation rate is now so ropey that people, to my mind, tell pollsters anything.
If what Labour has produced so far—in terms of ideas, lack of dollars, and general calamity—was accurately measured, you might see a drop in support… or not. But if you trusted polls, at least you could get a good gauge.
The upshot, though, is this: this lot under Chris Hipkins seem to have learned nothing. There is not a lot coordinated, well-honed, or slick about any of this.
For those waiting, it would appear a disappointment – a haphazard, piecemeal sort of effort that, after all this “wait and see” they have been playing, turns out to be the same old group of sloppy thinkers and lazy operators.
Hoping the Government would fail was their best chance. Given when they are forced to sell themselves to you, they look like a Year 8 school project – and not a particularly good one.
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