Full Show Podcast: 04 February 2025

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Your source of breaking news, challenging opinion and honored facts.
The Mike Hosking Breakfast with Bailey's Real Estate finding the
buyers others can't use Tog's head be warning and welcome today.

Speaker 2 (00:12):
Fiscal issues for the government, with the Treasury warning in
a finance minister that seems to be hinting at a
corporate tax change actor suggesting we might be pulling out
of Paris that they get their way. Greg Johnson on
his way back for a tour, so he checks in
from scorched Old, Santa Monica, Catherine Field and France. Rod
Little does the boost from the UK, asking welcome to
the day, seven past six hotelier. I can see why

(00:33):
some would be confused about the so called trade war
that's officially unfolded this week, mainly because it may or
may not be about trade, and it may or may
not be a usual fight even if it is about trade.
So for now the tariffs are limited to some Chinese
products with exemptions, Canada with some exemptions Mexico. Well, that
seems fairly fluid in the last couple of hours, and
of course the threat is still there for the EU. Traditionally,

(00:55):
a tariff is simply a charge put on a certain product,
either by a product type like steel, or a country
like Canada. It becomes a trade war when said country
retaliates by putting a counter tariff on America put tariffs
on Canada. Canada puts a tariff on orange juice. This time,
it's allegedly about borders and drugs. If said countries stop
people going over the border or clean up their exporter
of drugs, America might call it off. We've seen some

(01:16):
movement on that in Mexico this morning. But where Trump
gets confusing it is when he talks about tariffs to
protect American business. That, of course, is a very left
wing policy, not one of a conservative. Conservatives favor free markets.
Tariffs are not free market. Also confusing matters is Ontario's response,
which is not the tariff, but to simply remove American
alcohol products from the shelves, in other words, ban them.

(01:39):
Tariffs traditionally aren't about banned through about costs. You can
still buy a tariff product, it's just more expensive. Next
point is price, and this is where Trump will land
himself in trouble. The tariff is a price. It either
gets soaked up by the importer or passed on to
the consumer. When it gets passed on, more money exchanges
hands for less product. That's inflationary unless, and here is

(01:59):
the real issue for a place like US, no one
buys the product because of price. They buy another product
for cheaper, like an American product, which is where Trump
may well win. America makes so much stuff you can
almost always find a local product to support. New Zealand
can't because we don't make a lot of stuff. So
two questions while we watch this play out. One, do
we have a plan of America hits US with tariff's

(02:20):
i e. Do we retaliate? And two, given this is
admittedly an extreme version of the business, it nevertheless represents
a more broadly a growing way of the world, in
other words, more protection less free trade. Given we are
the original free traders in a world that's moving on.

Speaker 1 (02:36):
What now news of the world in ninety seconds?

Speaker 2 (02:42):
Yeah, well, the Trump wrecking ball is being swun. Markets
of course reacted. They hate it, and there's more where
that came from.

Speaker 3 (02:47):
The UK is.

Speaker 4 (02:48):
Way out of line, and we'll see the UK, but
European Union is really out of line. UK is out
of line. But I'm sure that one think that one
can be worked out.

Speaker 2 (02:59):
More on that shortly transmit on the fine now this
morning to Trudeau also shine barm in Mexico, got to
break through and work you through that if you've missed it.
But in Europe, threats still hang shorts of Germany. He
needs this like a hole in the head.

Speaker 5 (03:10):
What is clear is that as a strong economic area,
we can shape our own policies and respond to tariffs
with our own tariffs.

Speaker 6 (03:18):
That is something we must and will do.

Speaker 5 (03:20):
But the goals should be to proceed in a way
that ultimately leads to cooperation.

Speaker 2 (03:25):
Macron not thrilled either.

Speaker 7 (03:26):
What's happening with the American choices and declaration of President
Trump's new administration is pushing Europeans to be more united,
more active in responding to their collective security issue. In
other words, there can be no response to Europe's security
without Europeans.

Speaker 2 (03:41):
Back in Canada, it's the small town's close to the
American borders. Of course, it will be hardest hit, end
the earliest.

Speaker 8 (03:46):
I point out to the almost two hundred Canadians that
died in Afghanistan fighting alongside the Americans. I point out
to the energy every day that flows from Alberta and
from Sarnia into.

Speaker 9 (03:56):
The US to make that economy work.

Speaker 8 (03:59):
Firefighters from Canada in California right now helping there.

Speaker 2 (04:03):
Then to court where one the bloke who was a
soldier for Britain but spired for a run, then escaped
from Wandsworth under a truck. He's back in jail.

Speaker 3 (04:10):
When you join the army as a young man, you
had the makings of an exemplary soldier. However, through the
repeated violation of your oath of service, you showed yourself
to be instead a dangerous fool.

Speaker 2 (04:25):
And two that World Cup kiss. You remember that this
is in court. The player involved still not happy?

Speaker 10 (04:29):
Is that is INDIANOI Lara.

Speaker 11 (04:32):
My laughing and yelling was nothing to do with how
I was actually feeling as a result of the kiss,
and I felt he was taking away a part of
my celebration.

Speaker 2 (04:41):
Finally, into the banana mystery of beets to robery year,
there's a plate appeal bananas. They've been left on a
street corner during the first couple of days of each month.
This is a town of fifty two thousand. Nextly, in
our times it would be a city of fifty two thousand.
Have made multiple inquiries as concerns were raised by residents
of the bananas going moulding. So they put up a sign,
which is what you do when you see a lot
of bananas on corny guy, I know what we're gon't do.

(05:03):
We'll put up by sign. So now they're eagerly anticipating
March because that's the next chance to catch whoever it is.
Now we're either going to keep you posted on that
or completely forget about world. The news of the world
in nine few seconds just quickly shinebalm. So they're immediately
going to reinforce the northern border with ten thousand members
of the National Guard to prevent the drug trafficking. US

(05:24):
committed to working to prevent the trafficking with high powered
weapons at two Mexico. They'll begin working today on two
front security and trade. They're pausing carras from one month.
So basically one kneels to Trump. Twelve past six.

Speaker 1 (05:38):
The Mike Asking Breakfast Full show podcast on iHeartRadio, call
It by News Talks eppnother.

Speaker 2 (05:46):
Big thing this morning at a DOGE actually the US
Agency for International Development USAID. Basically, it has been reported
this morning that Trump is signed off on Elon Musk's
recommendation that they closed the whole thing down. So there
are ten thousand people have been told to stay at home,
and the chances are how they're all going to lose
their job. Fifteen past six. Well, Andrew Keller Hope, good morning,

(06:08):
very good morning, Mike. How the will react?

Speaker 6 (06:11):
Oh my gosh.

Speaker 11 (06:12):
Well, yesterday morning we talked about the tariff, didn't where,
and then we sat and we waited for our markets
to open, so we saw a market reaction, and then
we waited for the overnight markets. Now, Mike, yesterday morning
I made a couple of points. One was that the
duration of the tariffs was a pretty key factor, and
the other was that markets need to have a chaos
premium under Trump. And I think both points have been

(06:35):
reasonably well illustrated in the last twenty four hours. So yeah, look,
in our time zone, markets sold off. It wasn't a
blood bath. We saw in the US share market. Futures
contracts falls between sort of one point four percent for
the Dow Jones futures contracts through sort of two point
six for the Nasdaq. European futures they were down over
two and a half percent. Nick A two point six

(06:57):
The Aussie market fell two percent. Our market fell one
point four percent. But now overnight, as you've just been relaying,
sort of more chaos, the tariffs against Mexico being postponed
for a month following that call between Trump and Mexican
President Claudia Schoenbaim.

Speaker 6 (07:10):
You've given the details.

Speaker 11 (07:13):
They're going to sort of throw some more troops at
the border, and they're going to try and control the
flow of weapons into Mexico. But I think what this
highlights is that everything is transactional, and uncertainty is basically
part of the mix. And the difficulty in navigating this
is that all of the rules in the guidelines seem to.

Speaker 6 (07:29):
Exist primarily in Trump's head.

Speaker 11 (07:32):
So markets have reversed and the US share markets have bounced.

Speaker 6 (07:35):
So the Dow Jones now.

Speaker 11 (07:36):
Down about zero point four percent, the S and P
five hundred, that's sort of moderated the sell of as
has the Nasdaq. Just remember that the tariffs against Canada
are still in play, but there's a phone call to
be had this afternoon. Who knows what comes out from that.
On the currencies, New Zealand dollar got hit yesterday. US
dollar rally, that's reversed, so key we fell to fifty

(07:59):
five twenty very weak. Has bounced to sort of fifty
six cent, still below where it was at the end
of last week. Cryptocurrencies got hit bitcoining down to ninety
two thousand.

Speaker 6 (08:09):
It has bounced.

Speaker 11 (08:10):
Interesting on interest rates, Mike, because you sort of get
a two pronged reaction on the interest rates. Tariffs present
a potential problem for inflation, which draws into question in
the extent of monetary policy relief that you're going to
get so, particularly in the US, but tariffs also present
a growth headwind which is potentially positive for longer interest rates.

Speaker 6 (08:35):
So the US tenure.

Speaker 11 (08:36):
Rates fallen a bit, but the US two AR rate
is up a little bit. I just want to mention
one on the local market. Fish and Pikell Healthcare did
come under quite fore ye fair but a prescious day
six point sixty five percent fall. They have exposure to
manufacturing Mexico, US market's a key one fall than forty
five percent roughly of their manufacturings done in Mexico. The

(08:57):
company suggested that cost would increase in the twenty six
financial year.

Speaker 6 (09:00):
You would expect to see some relief to that share
price on the market today.

Speaker 11 (09:04):
But this is all I guess we have to have
a bit of a reality check here. But Trum's still
talking about tarrifs, as you said on the European Union,
on the UK, on China, chaos, uncertainty. This is all
part of Trump two point zero.

Speaker 12 (09:16):
Isn't it.

Speaker 2 (09:17):
It's such good fun. Household inflations my favorite, because that's real,
more real world. What do we got?

Speaker 11 (09:23):
Yeah, I think I just want to quickly make this point. Yesterday,
statues in release what I called the Household Living Costs
Price INDEXSES, So they are a little bit different from the
headline CPI that we normally talk about.

Speaker 6 (09:34):
This focus is on specific.

Speaker 11 (09:36):
Inflation for different households differs from CPI, and that includes
interest costs, and interest costs are not captured in the CPI.
The outcomes are different from CPI. So if you think
out there that your costs are moving differently from what
the CPI number is.

Speaker 6 (09:50):
To a small degree, you are right.

Speaker 11 (09:52):
At a high level, twelve months you've had a three
percent increase in the Household Living Costs Index.

Speaker 6 (10:00):
That that's to the end of December. That compares to
CPI two point two.

Speaker 11 (10:04):
That's because the impact of interest costs gets kind of
interest when you break it down into the different households
Mike beneficiaries three point three percent increase supernuitants three point
six percent, increase lower spending households almost four percent, three
point nine percent increase highest spending households two point seven
So in there there is sort of I think reason

(10:26):
cleariums that inflation hits lower income and older people a
bit harder, and household income is different from CPI.

Speaker 2 (10:33):
Income, and politics is at play with those numbers. Of course,
what are the number will be.

Speaker 11 (10:37):
Dow Jones is down point three percent as I'm looking
at it now, so forty four thy four hundred and nineteen,
the S and P five hundred point eight, just under
the six thousand mark five nine nine one, and the
Nasdaq is down one point one seven percent nineteen thousand,
three hundred and ninety eight for the record overnight, that
PUTS one hundred lost just over one percent.

Speaker 6 (10:57):
Eight five seven four.

Speaker 11 (10:59):
The K was down one thousand and fifty two points,
which is two point six six percent. The Shanghai Composite's
still not trading. The ASEX two hundred lost one hundred
and fifty three points yesterday one point seven nine percent
eight three seven nine, and we lost one hundred and
eighty five points on the NZX fifty one point four
to two percent, closing at twelve thousand, eight hundred and

(11:20):
ten Kimi dollar is Z point five five nine seven
against the US point nine per four five against the
Ozzi point five four to three one euro point four
to five oh nine pounds eighty six point five to
one against the Japanese yend gold rallied.

Speaker 6 (11:34):
It's over two.

Speaker 11 (11:34):
Thousand, eight hundred dollars two thousand, eight hundred and seventeen now,
and Brent crude has fallen. If there's one silver lining year,
seventy five dollars and forty eight cents cheaper oil good.

Speaker 2 (11:44):
Stuff mate see tomorrow. Andrew kellaher Jmiwealth dot Co, dot
z pasking New York demand for office space finally back
to pre pandemic levels. Fourth quarter year on year up
twenty five percent, which is a lot from Q three
to Q four. It's up twelve percent, So New York
is six twenty one. Your news Talks.

Speaker 1 (12:05):
The mic Asking Breakfast Full Show podcast on iHeart Radio
powered by News Talks.

Speaker 2 (12:12):
Eurozone inflation came in a bit hot overnight. They thought
two point four. They got two point five energy costs
behind that. Mike, I see Panamas now wipe the agreement
with China allowing China to manage the Panama Canal. Hugh,
I don't know where you're getting that from. That's not
my reading. My reading as Rubio was there and said
do something about it, and the Panamanian president said, I'm
on it. I don't think he's actually done anything yet,
but I'm standing to be corrected, U Shine Balm. Here's

(12:35):
what they talked about.

Speaker 13 (12:37):
Forward to a number of proposals were we should set
up to national cards on both sides of the frontier
to protect the frontier and to avoid drug trafficking.

Speaker 6 (13:00):
Study.

Speaker 13 (13:02):
We agreed that there should be a pause to the.

Speaker 9 (13:06):
Terriff international correspondence with trending.

Speaker 1 (13:12):
Now with chemist Wells keeping Kiwi's healthy all year round.

Speaker 2 (13:16):
See what comes out of the Trudeau phone call. Got
road rage, Ossie styles for you. Guy called David. He's
on TikTok had the green light for pedestrians at a
traffic stop. This is in Brisbane. Driver of the BMW
ignores it passes while David still on the pedestrian crossing.
They flip each other the bird because they're in Brisbane,
which caused the driver to do the U turn because
they're in Brisbane. Come back for a few choice words.

(13:37):
What you do when that happens, by the way, is
of course, immediately pull your phone out to film it,
thinking wow, this is going to go viral.

Speaker 6 (13:44):
It was green, buddy, it.

Speaker 9 (13:49):
Must grab.

Speaker 8 (13:57):
All right, all right, walks across the road like a
termine when it's when it's a green.

Speaker 10 (14:08):
Yep, you got to learn the rovers buddy, where.

Speaker 2 (14:14):
He's an angry BMW driver anyway, he might be thinking
the old green thing wasn't working, so when he changed tech.

Speaker 13 (14:19):
Do you ever have a shower looking at your's disgusting?

Speaker 6 (14:24):
Are you just jealous because you walk in the street?
Possible sorts?

Speaker 2 (14:29):
Well, Brisbane cool one day, even cooler the next. Retail sales,
by the way, while I'm thinking about Australia four point
six percent for decent of their back household goods up
seven percent, sporting goods, cosmetics five percent, clothing, footwear accessories
five percent, cafes four percent, food sales three and a

(14:50):
half percent. They seem to be going okay, which is
just as well for Elbow because he's got an election
coming in the day. Now, we're not going so well financially.
We've got another one of these centric reports that is
bad or is it.

Speaker 9 (15:03):
The news and the news makers?

Speaker 1 (15:06):
The mic asking breakfast with al Vida, Retirement communities, Life
your Way, news togs.

Speaker 2 (15:12):
Hed be like's eighty percent of New Zealand wanting a
discussion about the treaty. You mean that Seymour has read
the room well and Luxon is not. That's the poll
that came out Friday. It was this time yesterday we
were talking about it on the program. I say, yes,
I think you're onto it, Hugh. I think you're probably
more right than I am. Melino Panama, he has said
he would not renew a twenty seventeen memorandum of understanding

(15:34):
to join China's Belton Road. They would instead look forward
to more closely working with the US. I think this
visit opens the door to build new relations. So that's
the Panama and el meantime, another interesting story is Starma.
He's at a Brussels meeting EU meeting Brexit meeting, first
British leader to do that since they left. So he's

(15:56):
walking a fine line.

Speaker 14 (15:57):
In relation to the relationship between the UK and the
US and the EU, I've always been clear that both
are important to us. Now that for me isn't new.
I think that's always been the case and will be
the case for many many years to come.

Speaker 2 (16:13):
Not entirely true because the parish is going on from
the lib Dems to reignite bricks at so he's trying
to find a way around that verbally anyway. Meantime, NATO
is freaking out about Trump and weapons.

Speaker 15 (16:24):
It's very clear that the US is setting much more
into Europe than Europe is buying from the US. And
by the way, collectively we have to.

Speaker 6 (16:31):
Produce much more.

Speaker 15 (16:32):
There's so much money floating around and much more will
come in because we are spending more. Last year non
usl ACE spent eighteen percent more on defense than the
year before.

Speaker 2 (16:42):
That's gone Lord Shorely m Caretainfield in France. Meantime, more
insited into the State of New Zealand. Infinential hardships up
here is your headline nineteen percent year on year, So
that seems a lot, but this is centric start and
nearly half of the cases of mortgage show related. Centric
managing director Keith McLachlin Beck with re's Keith Morning to you.

Speaker 9 (17:00):
Good morning, Michael.

Speaker 2 (17:00):
So I'm trying to paint a positive picture here. So
four hundred and seventy thousand people are behind on payments,
but that's only up six thousand, not that many. Consumer
areas one point three percent higher, not that many personal
loans rose to nine point two percent, up from eight
point one not that many. Am I being overly optimistic
or not?

Speaker 6 (17:17):
Now?

Speaker 16 (17:18):
I don't think you are at all, Mike. I think
what we find at the moment is that there is
a seasonal increase in areas, which has been in place
for the last fifteen years December January February. We always
find that areas move up because other expenses take some
other household budget. So look, I think it is a
seasonal thing, and I don't think there's nothing to read

(17:38):
into that. But when you look across the trend, I
think households got their budgets under control, and I think
that you know, things are looking a lot better, though
certainly did twelve months ago.

Speaker 2 (17:49):
Good and so will we flush through the Christmas season
and we got the numbers or is there a February
or something like that? Still to come.

Speaker 16 (17:56):
Well. I think it's from an ares de Steck of
Sydney February through the probably thinking to March. It's quite tired.
I think people spin it up a little bit over Christmas.
I think there's back to school expenses, so there is
always a bit of a tidy economy or ability to
repay over the December January February months. March starts to
pick up, and we traditionally find that areas do drop

(18:16):
away during the winter period because it discretion, the spinning
falls away, and people focus on paying off their debts.

Speaker 2 (18:23):
So this business and mortgage areas, it's increased to twenty
two one hundred people. Am I also write or overly
optimistic and saying twenty two thousand people out of a
population of five million isn't actually a lot of people
in trouble?

Speaker 17 (18:35):
No, it's not.

Speaker 16 (18:36):
And I think when you also factor into that that
there are hardship cases out there, which is where people
are talking to the lenders to say, look, I'm struggling.
Can we work through this? But I don't think that
we're in a grim situation at all. I think you
know you Sidney households are struggling more than others. There
are a lot of house about there and it either
have very little or no mortgages, lacking confidence to go

(19:00):
and spend money, which is impacting small businesses. But I
think generally the economy is tracking towards an improvement.

Speaker 2 (19:06):
I'm encouraged to hear that as far as businesses are concerned,
all those liquidations and receiverships we saw before Christmas, do
you have any read on that. What's is that there
are more where that came from or not years.

Speaker 16 (19:17):
Look, I think that's the beginning of a bit of
a wave. Discretionary spending fell away certainly during the court
of last year, because households just didn't have the money,
or if they did have it, they weren't prepared to
spend it at that stage. I took a conservative approach,
and I think the small to medium businesses who didn't
have the reserves in place, I didn't have the revenue
coming across the counter, and their expenses kept going up

(19:39):
and they really struggled. I think coupled with that as
the Inland Revenue Department took a softly approach over the
last two to three years and they are now reversing
that action and they are now quite active and winding
up companies that probably should be wound up anyway.

Speaker 2 (19:54):
So you've given us a bit of positive, you've given
us a bit of negative. Where does that leave the
Reserve Bank on the nineteenth of February to go to
any five or fifty or that's out of your wheelhouse.

Speaker 16 (20:02):
It's away on my wheethouse. I'm not an economist, so
I'd like to see it as much money decnt house
on budgets as possible so that we can get it's
only stimulated again.

Speaker 2 (20:10):
Good stuff, Keith, Nice to talk to you, is always
Keith McLoughlin Centrics, managing director, eighteen minutes away from seven Scale.
Will has said somewhere on the station yesterday that she
sort of alluded to the possibility that the twenty eight
percent corporate tax rate is not particularly competitive, which it isn't,
which then would lead you to go, mmm, hello, twenty
twenty six election year, And then that would lead me

(20:32):
to thinking, well, hold on, if you're going to adjust
the corporate rate, that's a massive gap between a lowered
corporate rate and the top tax rate at personal level
of thirty nine cents. What are they going to do
about that and all of that came out of this
treasury paper that's floating about this morning that we will
ask Christopher Luxin about. That suggests that they've kind of
blown it. That the two point four operating budget two

(20:52):
point four billions she did in the budget last year,
that's a joke. There are no surpluses coming, the tax
isn't what it's supposed to be, and things ain't that bright.
So more to come shortly eighteen to two the Mic.

Speaker 1 (21:04):
Hosking Breakfast Full Show podcast on iHeartRadio powered by News Talks.

Speaker 2 (21:08):
It be if you're joining us late. Firstly, no excuse,
but secondly, you've missed the news that Trump has paused
for a month these Mexican terroffs because Mexico's folded. Basically,
Marco's happy.

Speaker 18 (21:20):
I think the point in ten thousand National guardsmen on
the Mexican side from Mexican National gardeners are very good.

Speaker 12 (21:27):
Signed.

Speaker 18 (21:28):
I'm not sure it resolves all the issues that were raised,
because beyond that there's some trade and balance issues the
president wants to address.

Speaker 12 (21:35):
But you know, obviously you saw the result.

Speaker 19 (21:38):
Of that international correspondence with ends and eye insurance, peace
of mind for New Zealand business because Donald still.

Speaker 2 (21:45):
Call them little Marco, lill Markal? Does he call them Elil? Michael?
Does he call them?

Speaker 20 (21:49):
That?

Speaker 2 (21:49):
Tell you what I'm interested in? If this goes well
for Trump generally, the automatic assumption is that Jade Vance
runs for the Republicans in twenty eight. But where's I
can fit him to that day?

Speaker 17 (22:01):
Now?

Speaker 2 (22:02):
Catherine, how are you?

Speaker 10 (22:04):
I'm fine? Thank you, Michael, good morning.

Speaker 2 (22:06):
Very keen to ask you about Starmer hanging out with
all you guys in Europe, but I'll come to that
in just a couple of moment. How freaked out is
Europe over all? That's unfolding in front of your eyes
as we.

Speaker 10 (22:15):
Speak, Well, very freaked out.

Speaker 21 (22:18):
Since Donald Trump took off, As of course, minds have
been somewhat fun or focused, not just on of course
aggressive Russia and need for the US to be an ally,
but also of course of Trump's conversations that he's been
having with Denmark over Greenland. Now, just as I'm speaking,

(22:39):
the twenty seven EU leaders are meeting in Brussels.

Speaker 10 (22:43):
They've been meeting all day Monday.

Speaker 21 (22:44):
This is so called informal retreat where they can talk
to another hopefully come up with some sort of policy
when it comes to defense. The problem is this Mike,
is that Europe realizes that the US is its major
ally and really when it comes to defending itself, Europe

(23:05):
needs the US. It really doesn't have the defense capability
to protect itself against Russia or anyone else. So they've
got to figure out what they do when they've got.

Speaker 10 (23:16):
Such an uncertain ally in the White House. Now. President
Macron of France has been going.

Speaker 21 (23:22):
On for ages about what he called this European strategic autonomy,
this idea that Europe needs to do everything on its own,
has to be able to stand on its own two feet.
But the problem with that mic is, as we saw
in the early days of the Ukraine or the EU
just does not have the military industrial capacity to be
able to rag up the military capacity. You cannot make

(23:47):
enough shells, cannot make enough tangs, none of.

Speaker 10 (23:49):
This can be done.

Speaker 21 (23:50):
So that's what they're going to try and decide how
far they go with that. The next problem is the
course might a lot of those EU countries do not
want to upset the US. You look at countries in
Eastern Europe, they want to preserve that relationship with the US.
So they say, well, okay, let's put more money into
defense spenditure, but we're going to need to spend it

(24:11):
in the US by US weapons because of we sort
of if you like, if you hook the US into Europe's.

Speaker 10 (24:17):
Defense, then they will remain committed to the US to
the EU. So that's the idea.

Speaker 21 (24:23):
You've got twenty seven nations all having different ideas, but
which way to go next?

Speaker 2 (24:27):
Right, So here's your next problem. So you talk about
terrorists for example, So Germany's about to change administrations. Highly
likely they're going to be isolationist and more conservative. So
that's potentially a trade war, which is different to macron
which is different. You know what I'm saying, it's do
they do it alone or do they do it together?

Speaker 21 (24:45):
Well, they're trying, and it seems very difficult to see
how they can have united position. You've got things like
Hungry and Slovakia that are so pro Russia that really
sometimes you hear what they're saying and you think, wow,
you know that comes straight out of Putin's speechwriter or
did they write that themselves.

Speaker 10 (25:04):
Then you have other countries that really.

Speaker 21 (25:07):
Are kind of ready to do some sort of deal
with the US. Particularly when it comes to you to trade.
There is a realization that the trade deficit between the
EU and the US has.

Speaker 10 (25:20):
Been widening since about two thousand and nine. The EU
does export more to the US than it brings in.

Speaker 21 (25:27):
But you just look at it today, Mike, And this
is what might be focusing Brains more and Brussels at
this moment, is that all the European and ended in
the red today just on the idea.

Speaker 10 (25:38):
That there was going to be this trade dispute.

Speaker 21 (25:40):
So they're going to have to focus on it, and
they're going to have to decide who's going to be
the one who's going to talk for everyone.

Speaker 10 (25:47):
Is it going to be Italy who's looking to be
that mediator between Europe and the US?

Speaker 21 (25:52):
Or are we all going to sort of line up
behind Germany that's absolutely reluctant to introduce terarists because they
export so many cars to the US.

Speaker 2 (26:02):
Just real quick, what's that sneaky little Starmer doing there?
Is he looking to do something with Brexit EU all
of that or not?

Speaker 21 (26:09):
He is trying to get more trade, freer trade with
the EU and also trying to pave the way for
this story which we've covered so much, mke, we hear
so much about fishing rights in the Atlantic.

Speaker 2 (26:20):
All right, nice to talk to you as always, Catherine
Catherine Field out of France. Putin says Europe will stand
at the feet of the Master. He is loving it.
Nine Away from seven.

Speaker 1 (26:31):
The Mike casting Breakfast with a Vida, Retirement, Communities News
Togsdad be Mike.

Speaker 2 (26:36):
Do you think it's possible that all the talk of
tariffs from Trump is putting a shot across the boar
the economies in order to get them to the table
to negotiate better deals for the US, and that these
tariffs won't actually see the light of day, Dave Good
question answered broadly yes, if it's about trade, as I
tried to open the program, whether it's not about trade,
it's about fentonyl or borders. No, So Mexico's already acquiesced.

(26:57):
Trudeau may or may not acquiesce later on today the
child will probably acquiesce to a degree. But with Europe
it's about trade. Then you come to US, and when
you say deals, we don't have a deal. We have
no deal with the United States of America, which is
most unfortunate. But nevertheless, they've never been free traders, So
I think Andrews sunded it up beautifully. It's all in
his head, so who knows what it's about.

Speaker 12 (27:15):
Mike.

Speaker 2 (27:16):
With Trump's decision impacting on the market, Kenna's business listed
on the market's trade shares feels like insider trading. Lynnette's
exactly what it is. He launched a meme coin the
other day, and the crypto community, who thought Trump was
on their side because he talks about crypto and he's
keen on crypto, goes and launches a mean coin and
he's made a fortune out of it. That's inside of trading.

(27:36):
There's no other word for it, it seems. But once again,
it's a whole new world five minutes away from seven
for the ins and the ouse.

Speaker 1 (27:44):
It's the fears with business tiber take your business productivity
to the next level.

Speaker 2 (27:50):
Back home. SME's how they're feeling the smee's into twenty five.
This is the NYOB survey. End of last year, forty
three percent reported lower sales than expected. Only eighteen percent
sales exceeded expectations. Started this year could be turning around
forty one percent. So they've got the same amount of
work lined up for Q one This year, thirty percent
have more, twenty seven percent have less. Most say they're

(28:11):
turning their attention this year to economic growth. Have been
listening to the Prime Minister. A quarter of smeeds say
they're looking to expand this year. Fifty percent say they're
looking to keep their investment into business. The same twenty
one percent planning to reduce investment coincides with the centric's
numbers we just told you about. Of course, heard say
they spend will go towards more marketing and sales, while
twenty eight percent say they're looking to expand digitally. Innovation

(28:33):
is also high on the agenda. It's seen as the
key mechanism to advance their business. On average, sme is
going to spend thirty three thousand dollars on twenty twenty
five on innovation. What does that mean? I'm going to
spend some money on innovation. What should we do? I now,
let's innovate. Okay, let's do some productivity. A little bit
of product to go, buy a bag of productivity. That'll help. However,
if you look at the manufacturing construction industries, they're looking

(28:55):
to spend seventy four thousand and sixty three thousand dollars
on average, respectively on that in ovation. Personally, I just
buy a nice ad chidele on the Micsking Breakfast. I
can incite any number of people who love that. That
brings innovation and productivity, and I am led to believe
tremendous happiness. But maybe I'm just making that part up.
Maybe that's inside of trading as well. Maybe maybe no

(29:18):
rules anymore, I can do whatever I like, Bryce Wilkinson.
So we've got this problem with Treasury and they're saying
a whole bunch of stuff about the economy the government
doesn't want to hear. So do we take that seriously
because half the time Treasury are wrong of course, or
do we going treaty wouldn't have a clue. But anyway,
there is some talk around the corporate tax rate, which
makes it super interesting given what Nikola will have said

(29:40):
about that. So we'll dip into that. We'll talk to
the Prime Minister about it after seven thirty this morning.
The Paris Accord and whether or not that's a goer
getting out of the Paris Accord and Greg Johnson, who
is coming back to the country every time. Just before
he comes back to the country, he brings the MYC
Hosking Breakfast for a word, and that's going to happen
directly after eight o'clock meantime News.

Speaker 9 (29:58):
Is next report you need to start your day.

Speaker 1 (30:02):
The my casting breakfast with the range rover villa designed
to intrigue and use togs dead.

Speaker 2 (30:08):
Be only seven past seven. So according to a Treasury report,
the government got themselves in a fiscal hole. There's no surplus.
They need to cut more. They may even need to
look at tax.

Speaker 22 (30:16):
If you compare in New Zealand with the rest of
the world, we're not as competitive as we used to be,
which is to say that our corporate text level is
reasonably high when you compare it to the rest of
the development.

Speaker 2 (30:26):
Which of course is true. Treasury say we need significant
reform and reductions to public services. Former Treasury Director in
New Zealand and the should have seen your fellow Bryce
Wilkinson back with us. Bryce morning, Good morning, Michael. At
the two point four billion operating that she talked about
in the budget last year. This is Nichola Willison was
always going to be tight. Is this coming back to
bite them a bit?

Speaker 12 (30:46):
Yes?

Speaker 23 (30:46):
I think so. And that was both inclusion after last
year's budget, as it was the grim out look. They
parameters you set yourself are very tight and arguably too
tight to keep within, so you're going to struggle to
keep on that on that target. It's good to see
that Treasury is blowing the whistle on it. They seem

(31:08):
to be on the ball, which is as good because
this issue is really important.

Speaker 2 (31:13):
You're hanging out with the business community more than I am.
But even I'm hearing there's a general consensus. Correct me
if I'm wrong that the government should have gone harder
earlier and we may not be in the mess we're
in now. Is that fair or not?

Speaker 23 (31:25):
Well, yeah, that's certainly my view and the view of
men at my colleagues. So and that was why it
was such a good blood budge, as it left an
outlook which looked very difficult for the minister.

Speaker 2 (31:40):
Why is she talking now about corporate tax and if
there's a move, what would it do?

Speaker 24 (31:47):
This could be good.

Speaker 23 (31:49):
Human's corporate tax rate is high compared to other jurisdictions,
and in particular the government's looking for a more foreign
direct investment to helps to me economic growth and improve infrastructure.
And that's good and its applaud them for that, but
they're just an answer setting up an institute to attract

(32:12):
foreign capital and try and compare with Singapore and Ireland.
But Singapore and Ireland the tax rates, the corporate tax
rates are more than the teen to twenty percent range.

Speaker 2 (32:23):
So text does matter, Yes, it does. Can you set
it at twenty cents to compete while having a top
rate of thirty nine?

Speaker 23 (32:33):
I think that would be very difficult. I'd be worried
that people would find ways around that to exploit exploit
it exactly.

Speaker 2 (32:41):
So you go to twenty what do you do with
thirty nine? And then of course the opposition go nuts
because they say you run the economy into the ground.
You've got yourself a recession, you're cutting You know that.
That's a massive fight an election year, isn't it.

Speaker 25 (32:54):
Yes, it's yeah.

Speaker 23 (32:55):
And you've got to find the money from somewhere else.
So you've got to have a credible fiscal plan and
the spender desire has to be.

Speaker 26 (33:04):
Part of that.

Speaker 2 (33:05):
Interesting to talk as always, Bryce preciated very much. Bryce Wilkinson,
former Treasury direct in New Zealand Initiative Senior fellow. Yes,
we will raise it with the Prime Minister to seven
thirty ten minutes past seven. Pasky now to make things
spicy within the government, Active floated this idea of pulling
out of Paris as well, David Seymour suggesting it might
be party policy going into next year's election. The former
Climate Minister Nick Smith is with us next morning to

(33:26):
you are you goodnight? Given Trump as the game changed
on the environment or not.

Speaker 26 (33:31):
All the danger in American politics is the whole issue
of climate change. There is just so polarized. So when
it came to Kyoto, the Democrats and then the Republicans
pulled them out and we've had exactly the same thing
now playing out with Paris. My hope for New Zealand
is that we can be a bit more moderate and
consistent in There are countries likes of the UK and
in Germany where there's been a more consistent and less

(33:55):
polarized position. The problem with an issue like climate change
is that if your government policies foot flopping all the time,
you're not going to make any progress. And it is
one of those long term issues. I'm in that headspace
that says New Zealand does need to do its fair share.
You'll have the Green Party wanted us to be world
leaders without being realistic about the impact on jobs and

(34:16):
the cost of living. You'll have the party saying, hey,
let's be free loaders and do nothing. I'm one of
those moderates. It says that New Zealand should do it's
fair share, and it would be a big mistake for
New Zealand pull out of Paris.

Speaker 2 (34:27):
Okay, that, Mike, fair share to achieve what though Nick
of America is not in and Brazil still polluting, and
India still polluting, and China's still polluting to achieve what.

Speaker 26 (34:38):
Well, I don't accept the world is. Remember there are
only out of one hundred and ninety seven countries, you've
got one hundred and ninety three that are in Paris.
But even if you put an economic leans over it, Mike,
you know, the European Union is our fourth biggest trading
partner twenty billion dollars a year. That free trade agreement

(35:01):
specifically mentioned as climate change. I think in the Trump era,
trade with the United States is going to be more
bumpy and more uncertain. And you've got both China and
Australia as part of the Paris Agreement. So I actually
think even from an economic lens, it would be a
big mistake or New Zealand to unilaterally pull out of Paris.

(35:25):
I do think in that determination about what is New
Zealand's fair share in terms of constraining our missions, then
you do need to look at your key trading partners
and seeing how much progress they are making. It would
be a game changer if Australia changed its position. I
don't see any sign of that, either from the Liberal
opposition or the Labor government in Australia. Here's the other

(35:48):
interesting piece, Mike, and that is actually if you look
at the big investments in the technology that is going
to enable us to get emissions down, whether it be
solar panels or whether it be electric vehicles. Actually China
has made huge progress. I suspect the cost of those
is likely to come down with the tariffs that are

(36:09):
and being imposed today on the US, such that there
will be opportunities. We just need to be realistic that
there is an economic cost to climate change policy, be
upfront with New Zealanders about that. And that's where I
come back to. I'm hoping the government will hold the
line it had New Zealand doing its fair share.

Speaker 2 (36:27):
All right, another thing to ask the Prime Minster for
about shortly appreciate it. Next Smith, former climate change minister
now Mayor of Nelson, of course, speaking which the ten
past seven past consions EV's Toyota comes into the world's
top selling auto make our ten point eight million last year,
down a bit. Fifth consecutive year they've won VW the
BW group they did nine million cars globally, down two
point three percent. Why as Toyota consistently number one? Everyone

(36:49):
now agrees they've not gone nuts on evs. They've gone
the middle, they've gone phead. They still produce internal combustion engines.
They're not big on the BEVs, They're big on the
p heare and that's why they're successful. Fourteen past.

Speaker 1 (37:04):
The Like Asking Breakfast Full show podcast on iHeartRadio powered
by News Talks.

Speaker 2 (37:10):
B looking forward to the catch up with Greeg Johnson,
who's coming back to the country next months the month
after anyway, it doesn't matter. He's coming back to the
country for a tour, so we'll catch up with him.
Santa Monica, of course with the fire, so we'll look
to get the inside where there Seventeen past seven, speaking
of which peered back toned down Grammy Show last night
kind of loveletter really to Los Angeles post those fires.
Beyonce finally got the country nod, she got the album

(37:32):
of the Year, all that sort of stuff. Channel Lines
US correspondent Read Butler was therein as with us read morning.

Speaker 16 (37:39):
Good morning.

Speaker 12 (37:39):
Yeah.

Speaker 17 (37:40):
It was paired back, but still a lot of fun.
I reckon there was a lot of nice, fun, upbeat
performances and from your Sekurras, your Billie Eilish is Sabrina Carpenter,
Lady Gaga. But then also that undercurrent of the importance
of paying respects and paying tribute to those who have

(38:00):
been affected by these wildfires. And raised a lot of money.

Speaker 6 (38:03):
Too, which was good.

Speaker 17 (38:03):
I think more than ten million dollars.

Speaker 2 (38:06):
Kannye in as weird Missus? Was that as weird as
it looked?

Speaker 12 (38:11):
Yeah?

Speaker 17 (38:11):
Yes, yes, so copped a knife full.

Speaker 2 (38:14):
Yeah.

Speaker 17 (38:14):
It was very strange for a lot of reasons. Primarily obviously,
there are a lot of people in the red carpet
dressed to the nines, and Carne's missus, Bianca from I
think originally from Melbourne, wasn't dressed in anything at all,
so she rocked up in her fur coat and took
it off, and she was essentially standing there absolutely stark naked,

(38:37):
which shocked a lot of people making a statement. So
the statement are quite for help, I don't know. But
then weirder than that she was. They then just left.

Speaker 16 (38:46):
They left.

Speaker 17 (38:47):
They didn't even go inside Crypto Arena. There was some
reporting saying that they might have been kicked out, but
that was kind of disputed by people in the Grammys.
I think they just kind of thought they were going
to rock up, make statement and then and then leave.
But it was certainly they certainly made a lot of
headlines in the process of doing that. It was very
very strange to see.

Speaker 2 (39:09):
I mean, I haven't seen a bit of it yesterday,
that Chapel Rohan, I mean, for God's sake, So was
there too much moaning? I mean apart from the Patriot,
But you know, when I was an artist and no
one supports me, and I want to be surprisiya. Come on,
you are.

Speaker 17 (39:25):
Talking to a very big Chapel Roone fan. But I
do I do see what I do see what you're saying.
She's that's an interesting one, right because she she's kind
of like not following the playbook of these artists in
where they're at this stage in their career, because this
time last year she was a literal nobody, like nobody

(39:45):
has had heard of her. She had maybe the tiny
little group of really dedicated fans. I think my brother
My brother actually went and saw her at the end
Moore Theater in Sydney a couple of years ago, and
there was maybe twenty five people in the theater and
I had no idea who who she was. Anyway, in
the past twelve months has just exploded into just she

(40:06):
is everywhere, like every supermarket you walk into, you hear
every radio station from in Australia, I'm sure New Zealand
in the United States certainly, she's just everywhere and selling out.
And she's got crowd sizes five times Societe at music
festivals of the Headline Act. So she's doing something right.
But she's also struggled to deal with this kind of

(40:27):
rise to fame and she's not not doing what normal
artists would do in this in this in this state.
So she's like lashing out at fans, refusing to get selfies,
She's yelling at photographers on the red carpets, and was
worried she would do that last night to us, but
she didn't. And then she Yeah, she's got onto the
stage last night to accept her Best New Artist Grammy,

(40:48):
her first Grammy, and then yeah, she's used as an
opportunity to kind of call out the industry and the
lack of health insurance from recording a book, labels and
the like. And she's really kind of use that to
make a statement, which she I think is getting a
lot of praise for. But it's certainly and she was
at that absolute I think she got dumped by a

(41:09):
record label a couple of years ago and this hadnt
was cut off, so she's clearly got some grievances there.
But yeah, she's used that opportunity to get up on
stage and call it out and some people love it,
some people hate it, but she just I don't think,
really cares what people can do.

Speaker 2 (41:25):
No, that's a good right read, it's a good way
to be and we're probably on the same so i'd
read listen, I appreciate it very much. I go, well,
let's get back to the climate in just a moment.
Seven twenty one.

Speaker 1 (41:36):
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Right.

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two twenty four. So we've adjusted our climate target last week,

(42:47):
a climate target which in and of itself, as far
as they can work out, as part of the whole
climate debate malaise. There are so many targets involving Paris
or not involving Paris, or timelines twenty thirty, twenty thirty five,
twenty forty twenty fifty five percent down A nineteen ninety one,
two thousand, So many numbers, so much noise. It's no
wonder so many of us have turned off. It's not
that the broad idea doesn't have some merit, it's just

(43:07):
how to kill the buzz obsession, Like the Greens anger fury,
too many numbers, classic recipe to lose the room. Anyway,
we adjusted one of our targets. It's not as high
as it was que the usual outrage. But but is
it time to ask, even if reluctantly, to ask the
question as to whether playing our part, if not leading
the way, as laudable as it may be, is now

(43:28):
just a pointless exercise. It's always been true that no
matter what we did, it would literally make no difference
to the planet. But doing our bit was important. So
with Trump here and America out of Paris, and China
and India and Brazil, etc. Doing nothing but boosting emissions,
what here at the bottom of the world is the
point ah, Because what has become indisputably clear is that

(43:49):
one Paris will not be met. None of these targets
are ever met. Two the price seems high economically. I mean,
read the piece over the weekend in Britain where it
was announced nine percent of farmland to go gone. Eventually
it will be twenty percent, a fifth of all land
in Britain. Farmland needs to be interfered with in some
way so they can meet their climate targets. Nice, clean air, fabulous,

(44:10):
just can't feed the people. It's a hopeless ask. It's
not real. Hopefully science will save us, as Nixt said,
because it's increasingly obvious, you've got the lethal combination of
the countries that don't care, made worse by the fact
they tend to be the large countries, and the economic
sacrifice made by everyone else that is simply increasingly beyond
the pale. We're not putting up with it. In simple terms,
you need to give up economic growth in order to

(44:32):
freshen the air or clear the atmosphere. That, to my
eye is an argument that as more and more evidence
of failure mounts, is not only never going to be one,
but harder and harder to even start. Husky, I think
that the state of the German economy won't be a
surprise to see the change of direction there on Paris
with a center right government coming shortly.

Speaker 12 (44:50):
No.

Speaker 2 (44:50):
I agree that trade will be an interesting how they approach,
and we're assuming that the center right will win. How
they approach Teriff's trade, borders, immigration, all or that's very
trump esk in that part of the world. But you're right.
If somebody in Europe starts to question Paris, then as
far as I can work out, it's all on. Prime
Minister are a lot to deal with this morning. He's
with us directly after the news, which is next on

(45:12):
the mic Hosking breaks Jane only a ad on away card.

Speaker 12 (45:24):
Not to sell a fit just away.

Speaker 9 (45:30):
New Zealand's voice of reason is Mike.

Speaker 1 (45:33):
The mic Hosking Breakfast with Bailey's real Estate finding the buyers.

Speaker 9 (45:37):
Others can't use togs Head b twenty.

Speaker 2 (45:39):
Three minutes away from Greg Johnson routine. You can't please
so we'll talk to him after eight o'clock this morning. Meantime,
the Prime Minister this Tuesday morning, very good morning to you,
just really quick if we can, because I've got bigger
fish to fry. The Kirabas thing between Peters and the
Prime Minister. The present President says yesterday that that has
that been sorted or not.

Speaker 24 (45:59):
Look, I think it's instance dealing with it. I mean
he was making a point very clearly, which is we've
got to have engagement. We send a lot of aid
money there and you know we've got to be able
to meet with them. And yeah, he's done a great job.
He's met with fifty five different leaders in counterparts. We
want to meet with Carabas.

Speaker 2 (46:13):
But was this just simply a misunderstanding so the aid
will flow there was a or are they playing silly buggers?

Speaker 24 (46:19):
I think genuinely know he had meetings set up. I
think they were canceled two or three times, and we
just want to make the point we need to beat.
You know, we make a big contribution to the Carabas.
We want to continue to do so, but that needs
we need to engage.

Speaker 2 (46:31):
Right Unra, So there's a British Israelis on the phone too,
Keiostama over the weekend and she's been released. She says
she was kept in a UN headquarters facility while she
was a hostage. Now are we know you clearly don't
know about that, but we reviewed funding for that UN
agency last year. When you hear that why are we

(46:52):
funding those people?

Speaker 24 (46:53):
Well, again, you know, we had an issue and a
concern earlier last year. If you remember we talked about
I think six months before we meet, had our one
million dollar payment by the end of thirtieth of June
last year, and we reassured ourselves after the investigation that
actually it was all you know, legit, and it was
Are you reassured now when you well, I mean, I'm
sure it's something that Winston will look out again if
there's any concerns there. But I mean, I just don't

(47:14):
want to go off reports that I haven't been.

Speaker 2 (47:16):
Speaking of Winston. So there was a business desk story
this week. Months after the announcement, you still hadn't set
up the schedu or whatever company to chase down some fairies. Remarkably,
Winston's put out a press release this morning just before
your appearance on this program say things are all he's
very good. So he's off to buy the fairy. So

(47:36):
are you still setting up a company? How is it
so difficult to buy a couple of ships.

Speaker 24 (47:41):
Well, No, all that he's doing is based off the
time plan that we have. He's actually got some time
up until the end of March to look upon whether
there's a better way to improve the offer that we
put together at the end of last year. So that's
all he's doing with that press statement today is making
sure that he kicks off that process and then obviously
locks and on what they preferred. If he can improve
on what we what we put together as a cabinet

(48:02):
at the end of the last year, great, If he can't,
great because we've got a good plan.

Speaker 2 (48:06):
I didn't ask you about this last week because I
didn't have time, But was the handing off from Nikola
Willis to Winston Peters as the newly fomed Minister of
Ships the worst moment of your tenure so far. You
took months to do nothing. Just before Christmas you announced
Winston's the Minister of Ships. I mean, what the hell's
that about?

Speaker 24 (48:25):
No, look, I think you know, like Winston's got great
expertise in rail He knows it well, he's passionate about it.
He's the right person to leave it.

Speaker 2 (48:31):
But you had all those months you were mucking around
last year to the wharf.

Speaker 24 (48:37):
No, we were actually trying to get a grip on
what the situation was. And that's been a lot of
what the first twelve months was about. Whether it was
the need in hospital, where it was fairies, whether it
was farmac drugs funding. You know, there was a lot
of stuff we're trying to work out as we work
our way through those books as to what we're actually
standing on. And I think, yeah, I get it. You know,
you think it took too long, But at the end
of the day, we've got time. The fairies get replaced

(48:58):
in twenty twenty nine, since got a window to improve
on the deal. If he can, great, If not, we good.

Speaker 2 (49:03):
I watched as I watched the Kaentuck, you get towed
back into port over the summer holidays. Yet again, do
you really have to twenty twenty nine or more like
twenty twenty six.

Speaker 12 (49:10):
We do?

Speaker 2 (49:11):
I just stick like bollocks.

Speaker 24 (49:12):
Well, no, I disagree they can. It's about maintenance and
I think here we rail like you get you know,
a transport company, a trucking company or an airline. You
can have assets and they need to be well maintained.
And you know, when we've seen some of the challenges,
you know, that's on key. We rail to make sure
that they're investing in the right way, keeping those assets
in tip top condition and the repairs and maintenance are
up to scratch.

Speaker 2 (49:33):
The Ted Cruz thing over the weekend, has that been sorted?

Speaker 12 (49:35):
Yeah?

Speaker 24 (49:35):
I mean as you can see, you know, as you know,
I met with Ted Cruz actually in July. We got
on very well, but he you know, they went off
on some misinformation and you know, very clearly Israelis can
come to this country without having under the visa waiver program,
without actually having to even apply for a visa. The
article where he reacted to, they've withdrawn on their article, which.

Speaker 2 (49:57):
Is good, okay, Wayne Brown, and I assume correct in
saying this and talking about tourism and getting more people here.
The government should reciprocate China's policy of allowing New Zealand
as visa free access of visiting China for less than
thirty days.

Speaker 12 (50:09):
Do we not do that? Well?

Speaker 24 (50:11):
There are there are some challenges about how we can
power up the Chinese tourists.

Speaker 2 (50:15):
Why don't we just open the door and say welcome.

Speaker 24 (50:17):
Well, that's that's that's that's exactly what we're talking about.
That if I've got the digital momads going off. But
that's also something that Louise Upson and Nicola what us
looking at right now? At with Erica Stamford, should.

Speaker 2 (50:26):
They be looking at something a little bit faster? Once again,
are you caught short? I mean, why is it I
can go to China apparently visa free, and they can't
come here visa free. Why don't we reciprocate and get.

Speaker 12 (50:34):
On with this?

Speaker 24 (50:35):
Well, again, it's one of the where we're looking at
whatever we can to turn tourism them on fast because
it doesn't need anything.

Speaker 2 (50:40):
A reciprocation of So Wayne Brown's actually onto this. Well
Brown Tourism is better at tourism than the Ministry of
Is that why you say, Matt Doocy? No, No, I
just say to you that we are looking at everything
we can do. There's those issues, but there's other issues
that we can do in to what are the problems?
What are the whole what's the hold up of reciprocating
something that they already give us?

Speaker 24 (50:57):
There will be there'll be genuine immigration concern. To me, well,
just to make sure the I'm coming here for a
seven day holiday, what's the sure But we've got to
make sure that that actually works well.

Speaker 2 (51:06):
And so you know, how come they can do it
and we can't. Well, we're looking at it, I'm telling you,
but you're at eighty seven percent of pre and you've
already articulated in your growth, growth, growth strategy that one
of the areas we need to move on is tourism.
Wayne Brown's doing the thinking for.

Speaker 24 (51:19):
And we're doing digital nomads, and we're also looking at this,
and we're looking at a bunch of other things.

Speaker 2 (51:23):
That's the word you're looking. Why are you still looking
at not doing because.

Speaker 24 (51:26):
You actually do need to actually make sure you've got
good policy in place.

Speaker 2 (51:28):
Are you worried about the Chinese? Is there's something there
that I don't know about.

Speaker 24 (51:31):
No, No, we're just making sure that we get at
immigration settings right and that we actually think through it.

Speaker 2 (51:36):
It's not immigrations tourism, it's.

Speaker 24 (51:37):
Tourism, but it's about visa settings and making sure we
just get that we're very.

Speaker 2 (51:40):
Open to Chinese is what's the problem if they do
it for us. Why can't we do it for them
like as of today, stroke of the ping Executive Bard,
let's get on with this.

Speaker 24 (51:47):
New Zeala needs to make sure when it looks at
visas and when it looks at all those things, that
it thinks through all the consequences.

Speaker 2 (51:52):
Were worried about that something there that you need to
tell me.

Speaker 24 (51:55):
We're looking at visas around international students. It's linked to that,
it's also linked to tourism. There's a whole bunch of
things we.

Speaker 2 (52:00):
Need to do. Okay, So Shane Jones, the Bank of
New Zealand, how is it possible that the Bank of
New Zealand wants to close down coal mines? Yea and
writes to them and says you can't have a card
debit credit.

Speaker 12 (52:13):
Why.

Speaker 24 (52:14):
It's utterly unacceptable, utterly unacceptable. And that's what we've got
to change. And we've made it very clear in our
comments and I hope the bank CEOs are noticing our language,
which is you've got to finance things that kiwis need
and not financing service stations or coal companies. Those are
things that New Zealand needs are going for big time.
And so whether it's been the beans, heat on service
stations or any o the other banks. Their job is

(52:36):
not politically posturing. Their job is to finance the things
that Kiwis need. Have you told them that, well, I mean,
apart from now, we'll make it very clear. We made
it pretty clear of the last week. And you know
we've got a Sleet Committee inquiry going on as you had. No,
that's about competition, sure, but as we but on this
particular issue, we're very happy to call back in the
chairs and CEOs discuss this exact issue is can you
do this.

Speaker 2 (52:56):
Or is Shane Jones going to have to do something
about that law?

Speaker 24 (52:59):
Well, I mean I think the banks need to realize
that actually the public of New Zealand want them to
give them a fair and better deal. They don't want
this political posturing going on. And actually, when you sit
there and you know we came out on the Ben's end,
you know they want to not fund service stations in
provincial New Zealand for example. Well, we've got two to
three percent electric vehicle penetration at the moment. It ain't

(53:19):
going to change in a hurry, and frankly that's not
their decision exactly.

Speaker 2 (53:22):
So will you need to pass some sort of law.

Speaker 24 (53:26):
Well, we're open to looking at whatever we need to.
I personally think haul this, cheers and CEOs and ask
that specific question. Get them back in front of that
inquiry again.

Speaker 2 (53:33):
On although so we signed the Paris thing.

Speaker 24 (53:35):
Well again they their job is to finance the things
that New Zealanders need. These are legitimate businesses. Actually you
cannot if you don't want to finance a mining company.
Will we need critical minerals to actually make the transition
to clean energy growth? Well, I don't know how much
clearer we can be, but we're sort of losing a
lot of patience as the best part.

Speaker 2 (53:54):
Are you going to do about it?

Speaker 12 (53:55):
Well?

Speaker 2 (53:56):
And why is Shane Jones leading this? Well, it's a
way that we all feel. We all so all you're
on locksteps. So at New Zealand first.

Speaker 24 (54:03):
And yeh, it's unacceptable, unacceptable that actually we've got banks
making decisions not to finance things that Kiwis desperately need.

Speaker 2 (54:10):
Right, so we can say now on this program because
they'll all be listening, it stops now.

Speaker 24 (54:14):
We want yep. And if the CEOs are hearing me
clearly right now, we are incredibly frustrated about it. It's
not right. Go back and revisit your policies on.

Speaker 2 (54:23):
Okay, is acting right that we need to think about
getting out of Paris.

Speaker 24 (54:28):
No, because we're acting in New Zealand's national interests and
we want to grow the economy. And I'm telling you
now coming out of Paris is not the way you
grow the economy. That would just punish farmers. And you've
got to remember ten thousand dollars every man, woman, a
child in this country comes from agriculture. And I can
tell you right now, large multinational companies, competitive countries from

(54:50):
Europe would love to substitute New Zealand products on shelves
with European products and that ain't gonna happen. And so
you know, that's why we're acting brutally in New Zealand's
national interests because we want to power up economic growth
and I can tell you're coming out of Paris would
really hurt economic growth.

Speaker 2 (55:03):
The treasury stuff that's floating around this morning.

Speaker 24 (55:06):
That's why, sorry, Michael, that's why as a cabinet we
all agreed, all the parties and that cabinet agreed on
this understood.

Speaker 2 (55:12):
Are you going to play with the corporate text rates?
Soon or not.

Speaker 24 (55:14):
Well, we're open to looking at all our tax settings
that encourage its growth.

Speaker 2 (55:17):
I'm not going to win this budget and this budget yeap,
So we could be talking about corporate text cuts this budget.

Speaker 24 (55:22):
I'm not going to talk about what those measures may be.
So you're looking at the tax cut we're looking at
We're open to looking at taxation measures, and there's a
range of them that would actually incentivize and encourage growth.

Speaker 2 (55:32):
How can you cut corporate I mean, good on you,
well done, get on with it. How can you cut
corporate and leave at thirty nine the top rate? Then,
because you'll have issues?

Speaker 24 (55:40):
Well, again, I'm not going to talk about it as
a theory of fear. I'm not going to talk.

Speaker 2 (55:44):
About the theory of it either because no theory, no idea.

Speaker 24 (55:46):
I mean, it's not fear going into a budget conversation
to be talking about our text policy discussion.

Speaker 2 (55:53):
How do you lower corporate while keeping the top rate
and the gap being too high?

Speaker 24 (55:56):
Well, the challenge we've got is how do you drive
more economic productivity? Year?

Speaker 12 (56:00):
Text?

Speaker 2 (56:00):
Couldn't agree more? Yeah, low tex traits one way, the
investments to the top that'll be good. That's what i
want to hear lower, lower the top rate, lower the
corporate get on it again. We're looking at that well,
we're looking at our text sittings as you heard heard
Nicholas say yesterday as well. And will they be implemented
as a what next year election? You as part of
our budget this year but to go you don't do

(56:21):
it instantly, you'll be doing it for next year.

Speaker 24 (56:22):
But but we want to be able to announce things
at the budget.

Speaker 2 (56:24):
So you'll announce it them the budget to go into election.
You with text cuts, we will I'm not there was
close enough, it's close enough. Will you fix that? Well?

Speaker 24 (56:34):
What do we want the text? We're open to look
at the texting. But there's a range of things you
could do that would incentivize actual more growth and the
actually what you could you think about people investing in
technology and adoption of there's a whole bunch of things
you could do around.

Speaker 2 (56:48):
Nice to talk to you. I appreciate Prime Minister Christoph
Lux in twelve to eight.

Speaker 1 (56:52):
The Mike Asking Breakfast Full Show podcast on iHeart Radio
now ad By News.

Speaker 2 (56:57):
Talks it please the Prime Minister's comments on the B
and C and the banks in general, because if I
don't get as I said last week, I don't get
riled about a lot of stuff, but what the banks
are doing in that And if you're running a country
desperate for growth and the banks are deliberately working against
you to close down businesses they've decided they don't like,

(57:19):
that's bollocks. So I was pleased to hear them say that. Anyway.
Speaking of leaders, Trump's been on the phone to Mexico's
We've already told you this morning, and Canada seems different
phone calls.

Speaker 20 (57:29):
We've agreed to talk and consider various other things. We
haven't agreed on tariff's yet, and we will maybe we won't,
but we have a very good relationship. I also spoke
with Prime Minister Trudeau of Canada and we had a
good talk in the morning. But I did ask him
a couple of questions, like, you know, banks aren't allowed

(57:50):
to do business in Canada. Canada is very tough, Canada
is very you know, we're not treated well by Canada
and we have to be treated well.

Speaker 2 (57:59):
Yes, that didn't go well. So Mexico's aquies they've bought
themselves a month. They're going to flood the border with
a few people try and stop the drugs and the
people coming across Canada seems more staunch. Mind you, as
I was talking to Prime Minister off air, Trudeau's got
nothing to lose because he's already gone, so he may
as well go out in the blaze of alleged glory.

Speaker 1 (58:18):
Ate away from eight, the Mike Hosking Breakfast with the
range Rover, the LA News talks.

Speaker 2 (58:23):
He'd been there, you go worked out perfectly. Little bit
exercised about that interview morning, Michael, that was the worst
interview you've ever done with the Prime minister. Well that's
not true, Mike. Great interview with the Prime minister. So
it's either the greatest three it was the worst one
or the other. But at the end of the day, Look,
one of the difficulties I'm having at the month that
tax thing's fascinating is they're going to go with tax.
You can't cut corporate, and I hope they do cut corporate,

(58:46):
and of course you know it'll be something around investment
as well, and if you invest in certain areas you'll
get to depreciate faster. But you can't cut corporate if
you're then leaving the top rate at thirty nine and then,
but in Cut the thirty nine, it costs your fortune
and they don't have a fortune. Of course, you remember
the interview we did years ago with John Key and
he sort of gave away the tax cuts. I said,

(59:07):
how much would it cost you to do a tax cut?
And he went, oh, I've done the numbers at three
and a half billion dollars. Remember that, And so it's
big money they don't have. So it's going to be
fascinating to see how that whole thing unfoults.

Speaker 25 (59:18):
Now.

Speaker 2 (59:19):
Vine Street Stories was Greg Johnson's third album, some say
his best. One text here says Vine Street Stories in
Chinese Whispers are Johnson's best albums. Anyway, it's a big
celebration for Vine Street Stories. Greg Johnson's coming back to
the country before we get to that, but he is
of course in Santa Monica, which has seen some activity
of late, and we will get his view on what's

(59:41):
going on in that particular part of the world. But
also look forward to the cash up Greg Johnston's up
of the news here on the Mike Hosking Breakfast US Talk.

Speaker 1 (59:48):
Zen b Zarny the Mike host game in Stateful then
Gaging and Vital the Mic Hosking Breakfast with a Vida, Retirement, Communities, Life,
You're news dogs, he'd be.

Speaker 2 (01:00:06):
It was haeven past eight. One of the greats is
on his way here to celebrate thirty years since the
release of his third album, and what an albument was
Greg Johnson Vine Street Stories of course, which includes my
favorite all time If I Swagger or is it I
waiver a bit on that. Greg Johnson is with us.

Speaker 12 (01:00:25):
Morning mate, doctor Michael Hoskins.

Speaker 2 (01:00:31):
That's how are you a Happy New Year? And all
that sort of stuff. It sort of feels weird talking
to a person in the middle of the fire zone
in Santa Monica and wishing the new year, because it
really hasn't been, hasn't It's been?

Speaker 12 (01:00:42):
I mean a show of you know, the type of
show that comes out at the bottom of latrine from
starts finished for me this year so far. But having
said that's all, it's February now, so maybe things are
going to turn around, you know.

Speaker 2 (01:00:56):
Well I hope. So did you see the fire Raid
concert last week?

Speaker 12 (01:01:00):
I did not see that consonant. In fact, I didn't
see a shred of it. I was in studio the
whole time. So but I heard. It was very good.
It was very good.

Speaker 2 (01:01:07):
It was fantastic. Where's you're in, Santa Monica? Where where
is it's at? It seems to be it was the
worst thing that happened, but the communities come together and
there is some sort of hope around rebuilding and moving forward.
Is that fair or not?

Speaker 12 (01:01:21):
Yeah? I think so it was. I mean, it's fascinating.
I mean, I'll give you a quick rundown. I came
out of the studio and saw a giant a cloud
of smoke billowing out of I've got a clear view
up to those mountains. And on that Tuesday and thought,
oh god, something's blown up. I thought there'd been a
plane crash something. And then later that day, of course,
it was all underway. The thing that sticks my mind

(01:01:44):
from that first day is I saw a guy coming
up the hill we went down to the bluff to
see the planes picking up the water and everything, and
a guy in his late model Porsche. Guy in his fifties,
I suppose, and in the back seat he had two
large paintings and a guitar and that was and I thought, Wow,
that's that's kind of this is serious.

Speaker 2 (01:02:03):
That guy, you know, that's also very California though, isn't
it Porsche too, paintings and a guitar.

Speaker 12 (01:02:10):
Yeah, it was like wow, I mean it's it's been
pretty awful. But I have to say the it's kind
of like it's really like if Remirierra was just suddenly
an ashes so and everything, and we were like in Allesley.
So you know, the evacuation got to within two blocks
of us. And I have to say, on that evening

(01:02:30):
we had a voluntary evacuation, I said to my family,
I was like, you know, I would really never have
thought that Santa Monica could catch fire and burns the ground,
but I'm actually thinking now maybe it could. So I
think we're going to go, and so we left, but
thankfully it didn't.

Speaker 2 (01:02:45):
How much of that for people? I mean, I'm assuming
a lot of people listening to this have been to
Los Angeles and you drive from Los Angeles down to
the sea, and once you get down to the sea,
you're at Santa Monica and you turn left to go
to Venice and you can turn right to go to Malibu.
And how much I mean just to think those Malibu
houses where they've got the motorway between them and the Yeah,

(01:03:07):
I mean how does that work?

Speaker 12 (01:03:09):
Well, I've got to say, I mean, I've always thought,
as a New Zealander and a presumably vaguely common sense
kind of person, I've always thought, it's really only a
matter of time until they're actually swept away by a
large king tide of so as well. But I think
that what that reflects, and the fact that it jumped
that high and everything else is and I think it's
hard to understand if you haven't seen it, but if
anyone's ever been here, when the wind comes around from

(01:03:31):
the east, it's called the Santuranas. The humidity was I
think five percent. Now, when that happens on any ordinary ocasion,
a couple of times every year it happens, I'll rush
out and do any wash, any shoes I want to wash,
or you want to do a carpet, and give that
a anything you can, because it'll dry out within about
half an hour. You know, you could get get the

(01:03:53):
dog out, give them a big you know. But what
was happening then was is that it was extremely dry already.
I'd been up in those mountains hiking only only a
week earlier, and commented to the missus, you know, this
is very, very dry up here, it's incredible, and then
that wind just started up. I mean, all the arguments
about who could afford it and what they could have

(01:04:14):
done are irrelevant, I think because one hundred mile an
hour or eighty, you know, one hundred and twenty k
wins and five percent humidity and everything tender dry. All
you can do is watch and that's basically what they
could do for the first until that wind stopped.

Speaker 2 (01:04:28):
So how much of what we heard and it did
come from the trump esque lot, how much of its
true bass newsome there were there was no water, they
were trying to save the spell to whatever the hell
the fish was called. How much of that was true?

Speaker 12 (01:04:42):
Yeah? Well, I think that there's there's you know, like
most things that come out these days, there's a tiny
kernel of truth somewhere in there. But I don't think
it would have made a shred of difference in all honesty.
I mean, yeah, there's there's plenty of blame. I mean,
people forget that all politicians are essentially awful idiots who

(01:05:02):
deserve disdain of all stripes because you're the type people
that get involved with in the first place. Ninety nine
point nine percent horrible people. So you know, that's in
my limited experience, thankfully limited experience of meeting any of them.
So that's my opinions the start. But I think, honestly,

(01:05:23):
nothing much could have stopped it. I think the only
thing that will stop in the future is designing houses
that because the people had design houses to prevent being
burned down, their houses are still standing. Now are they cheap?
Maybe maybe it's not that expensive to put a whole
lot of turf on your roof. And you know, but
I'm you know, I didn't finish my architecture degree.

Speaker 2 (01:05:45):
So exactly exactly, let's talk about let's talk about this
tour in just a couple of moments. Greg Johnson with
us out of Santa Monic at thirteen past eight.

Speaker 1 (01:05:53):
The Mic Asking Breakfast Full Show podcast on iHeartRadio powered
by News.

Speaker 2 (01:05:59):
Talksp News Talks had been quarter past. Our guest is
Greg Johnson, coming back to the country late April celebrating
Vine Street Stories. Mine. Greg, When Vine Street Stories came
out your third album, Where in your memory do you
think you were at at the time, on your way
you'd made it. Where were you at.

Speaker 12 (01:06:18):
Just kind of head down writing and making music. Honestly,
I kind of. I've probably told you story before, but
I know, after Isabelle was sort of on the radio
and was on the chart and it got to number
three or fourth at four I think, and it was
setting up there in the chart. I naively assumed that
everything post would go up a little bit next time,
so next I'd be number two. You know, that's Juvick

(01:06:41):
and Vick doesn't that. But anyway, Yeah, I just actually
moved from my indie label to EMI. Were co funding
this record, so we had hopes for it, you know,
and as it turned out, it actually got quite a
lot of traction. I think it was my first gold album.
Where does it.

Speaker 2 (01:06:58):
Sit in terms of all your work? Do you think
of it fondly in that sense?

Speaker 12 (01:07:03):
I do, yeah, I very much do. Strangely, it doesn't
really have well has swagger on it. As you say,
it's one of my favorites, and Pleasure and Overdose is
also a favorite. It has Don't Wait Another Day, which
is actually my second most popular and in fact the
song I've earned the most money off. I think I
should have written more songs over my career that were

(01:07:24):
quickly rushed down and buy the sale or something like that.
You know that I kind of had more ads, but
don't wait another day. It was just close enough to
that kind of thing where a save yourself was probably
really only good for you know, I suppose a selling
life rafts or something. So you know, I do have
good memories of that record though. It was a great

(01:07:46):
time and we were a good age. You know, we
were a mid twenties and you know, how do you know?

Speaker 2 (01:07:51):
How do you when you say you've made more money
out of one another day? Did the chicks come in
for a song as opposed to a broad based check
once a month or year or what ever, as opposed
to an album?

Speaker 12 (01:08:04):
Yeah, each song exists on its own, I mean album
wise that they were. All those albums were tied up
with EMI Records and Pagan prior to that, and now
Universal has all that catalog and actually they've been very good.
They're re releasing Bone Street Stories as Vinyl as well,
coming up to coincide with a tour. It's nice to have,
you know, have them on board.

Speaker 2 (01:08:23):
Is Vinyl? Are you begone Vinyl?

Speaker 12 (01:08:26):
Yeah? You know, I just started getting back into it.
I can. I could kick myself, like probably all of us.
It was only about ten or fifteen years ago, when
you could walk into any second hand store and there'd
be a pile of brand new, rare albums sitting there
for fifty cents each, and everyone was like, forget about it, No,
I's gonna want that. Get the great turntable for about

(01:08:46):
forty dollars. Now, of course it's it's all back on
and the prices have gone through the roof again.

Speaker 2 (01:08:52):
Exactly. I do like Vinyl, Yeah, yeah, but it's got
to it has a very I'll tell you what I'm
I find interesting. Anyway, WHIMS came out, everyone was obsessed
about the sound. Oh CD, you got to go c
D because of course Vinyl's rubbish. And then when streaming
came out, no one talked about quality anymore, do they right?

Speaker 12 (01:09:10):
No, you're right, I think well because they were listening
through tiny little speakers instead of the previous generations giant,
lovely stereos. That's probably half of it.

Speaker 2 (01:09:20):
Exactly. Do you like it by Swegen?

Speaker 12 (01:09:23):
Oh? I love that song? Yeah, I mean it's to me.
I think it's probably one of my best songs without
dat as a writer, you know, I just think it's down.

Speaker 2 (01:09:32):
Yeah, it is honest song because I've got several versions.
When I listened to it coming to work in the morning,
I've got the wedding version. I didn't know there was
a wedding version, but there's a wedding version of it.
That's a nice one. Do people get married to it
a lot?

Speaker 12 (01:09:45):
Do you know? You know?

Speaker 21 (01:09:47):
People have?

Speaker 12 (01:09:48):
Many people have actually, and it's always surprised me because
it's really not a song that bodes well for a
good marriage. My favorite story about that one is it
was played at the funeral of the plane of Scottish.

Speaker 2 (01:10:05):
Wrestler old Robert Bruce.

Speaker 12 (01:10:08):
Robert Bruce had requested that to be played at which
I thought, there's no higher you know, there's high compy
that really.

Speaker 2 (01:10:17):
Exactly if I got married to it? Do I have
to pay you? Is that how that works?

Speaker 12 (01:10:23):
Probably not, it's a private function, but you know, if
you want to take the point, all.

Speaker 2 (01:10:29):
Right, mate? So do you do it on this tour?
Are you doing the whole album like you do the
whole album plus nothing else or what?

Speaker 12 (01:10:35):
That's the plan? Yeah, We're going to come on and
play the songs the album start to finish, probably the
first set we'll do that, and it's about just over
and how long that record. Brilliant is another thing we
discovered and we decided to put it on vinyl. That
you can only put forty five minutes on vinyl, so
it have to be a double album. Oh wow, Yeah,
but yeah, we'll play the whole album and then the
second set will play a bunch of other stuff I

(01:10:56):
guess from the newer alms and other older albms. But
that is the that's the exciting thing is reinventing and
some of these songs have never been played live before,
even when we're the recorded there never played live. So
it's it's a fun challenge.

Speaker 2 (01:11:08):
You know, it's going to be good. Well, hopefully we'll
catch up when you hear mate go well in the
meantime end of April, I'll run through all the player
But you're go Hamilton Tower and a Wellington Parmerst and
Norkland couple in christ judge're going south of Christ.

Speaker 12 (01:11:18):
Juch not this time. I don't know why. I don't.
I think maybe because there's no Queen Charlotte Oysters or
no Queen Charlotte Scollops in season or something. There's will
be a reason, probably culinary reason for that. But yeah,
plus one dot co Doddings is will you go to
get all that stuff? I look forward to coming down.
I wish I was sitting on a beach down there

(01:11:39):
right now.

Speaker 2 (01:11:39):
Actually, yeah, it's beautiful. Go well, mate, nice to catch
up as always, and we'll see see you hopefully.

Speaker 12 (01:11:44):
Good care and much love to everybody see soon.

Speaker 2 (01:11:46):
Isn't that good? Isn't it the nicest going on in
the world? Greg Johnson and Vine Street Stories eight twenty one.

Speaker 1 (01:11:53):
The Mic Hosking break best with Bailey's Real Estate News Dogs.

Speaker 2 (01:11:56):
They'd be now for fifty years, Bailey's as in Bailey's
Real Estate, have built a legacy of trust and innovation
across this beautiful country. As the country's leading full service
real estate agency. Are From humble beginnings, they've matured unto
the country's largest locally owned and family operated real estate
network and more than one hundred offices. You got two
thousand personnel expertise across all corners of the property sector,

(01:12:17):
including residential, commercial, rural, and property services. While adding value
across the property sector, Baileys also beside you on the rugby,
pitch in the gun, boots on the farm, investing in
the local communities nationwide as well it's the Kiwi way,
It's the Bailey's way. So backed of course by a
national network in strategic international partnerships that give their clients
the cutting edge. People are at the forefront of everything

(01:12:39):
they do. Bailey's proud to support New Zealanders to achieve
their property goals. They've done real estate differently for half
a century. So how can Bailees altogether better approach? Help?
You ask yourself that question. Get in touch with the
best of the best, and the best of the best
is Bailey's LASKI eight twenty five. Trump off the phone
to Trudeau, still got this idea about the fifty first state.

Speaker 20 (01:13:00):
What I'd like to see Canada become our fifty first day.
We give them protection, military protection. We don't need them
to build our cars. I'd rather see Detroit or South
Carolina or any one of our Tennessee, any one of
our states build the cars. They could do it very easily.
We don't need them for the cars. We don't need
them for lover, We don't need them for anything. We

(01:13:22):
don't need them for energy.

Speaker 9 (01:13:23):
We have more energy than they do.

Speaker 6 (01:13:25):
We don't need them for energy.

Speaker 9 (01:13:28):
So I say, why are we doing this?

Speaker 12 (01:13:29):
Why?

Speaker 20 (01:13:30):
Why are we willing to lose between one hundred billion
and two hundred billion dollars a year.

Speaker 9 (01:13:35):
We don't need them.

Speaker 2 (01:13:36):
I get the myopic person in Arkansaw who's going yeh are,
he's a good guy. I get all of that, but
this whole we don't need anybody will just be in
isolation Jesus's I finished The Apprentice last night, which I
thoroughly recommend to you currently on Apple, and I think, Neon,

(01:13:57):
you've got to pay for it. That will change eventually.
But the guy who plays Trump is very, very good,
bordering on superb. As I mentioned yesterday, the guy who
plays Cone is absolutely brilliant. And I was wondering as
I was watching the program whether they ever got themselves
into legal trouble how to get this. So there's a

(01:14:17):
couple of scenes in there that infer Trump indulged in illegality,
and I assume they somehow covered themselves off.

Speaker 17 (01:14:26):
With that, but as because he did illegal stuff.

Speaker 2 (01:14:30):
Could be there. But there was a rape scene in there.
The allegation was he raped somebody, and so I thought, Jess,
you need to know that you've got that covered off. Anyway,
it's well worth watching, and I did wonder if he
hadn't become president, would you watch it, or now that
he is president, do you look at it in a
whole different light. But it's well worth watching the Apprentice.

Speaker 9 (01:14:51):
US opinion and everything in between.

Speaker 1 (01:14:54):
The mic hosting breakfast with the range Rover vi LA
designed to intrigue, use to not up on the.

Speaker 2 (01:15:02):
Fairy announcement this morning. This is coming from the new
Minister of Fairies, Winston Peter's worldwide market engagement couple of
medium sized fairies to replace the inter island immediately engaged
shipyards internationally at interifying those with the capability the capacity
of the interest to do it. There will be a
narrow that will narrow the list of potential builders. Governments
open to the process for eligible parties to put forward

(01:15:22):
ideas for alternative procurement options. So what they're looking for
somebody who can do it. The ability to provide confidence
that any land side development necessary, capability and experience in
the operation, ability to manage risks associated with a transition
from the current ferry operations, blah blah blah, value for money,
et cetera, et cetera. But I think I still maintain
my criticism and it didn't really get covered properly because

(01:15:43):
it was before Christmas, just before Christmas. But to sit
on your hands the way they did for most of
the year, knowing the problems ongoing for New Zealand Rail,
the criticism of etc. And to then make the grand
announcement just before Christmas that all they were doing was
transferring responsibility from one person to another who was then
going to do a bit of looking around the marketplace himself.
While at the same time, over the summer holidays we

(01:16:05):
see these bories are getting towed back to the wall again.
You think, I mean, come on, it can't be that hard.
Twenty two minutes away.

Speaker 19 (01:16:12):
From nine international correspondence with ins and Eye insurance, peace
of mind for New Zealand business.

Speaker 2 (01:16:19):
Now, well, little will just rub morning to you.

Speaker 25 (01:16:24):
How are you doing.

Speaker 2 (01:16:25):
I'm going extremely well. Listen to Starmer. This is Stamer
and Brussels.

Speaker 14 (01:16:28):
Both of these relations are very important to us.

Speaker 6 (01:16:32):
We are not choosing between them.

Speaker 14 (01:16:34):
But that's historically been the position of the UK for
many many decades.

Speaker 2 (01:16:39):
Now, how much is he dancing rod between the EU
and Britain. And that's before we even get to Trump
and the terriffs.

Speaker 25 (01:16:47):
Completely. It's a real problem for him. He does have
to square that circle of who does he stick with?
Is it the EU or the say now, in the past,
Britain has the excuse that as a member of the EU,
it has had to go with the EU on such

(01:17:08):
things as tariffs and so on. He doesn't have that
excuse anymore. It is of his own position, and Trump
knows it's off his own position and will penalize him
if he takes a wrong decision. So there is a real,
real problem there, not helped incidentally by people like Machron
telling him that that Brexit was a huge mistake, which

(01:17:32):
probably didn't make for an easy meeting there either. My
guess is that if push comes to shoves and Trump
offers us some sort of deal, we side with the US.

Speaker 12 (01:17:44):
Yeah.

Speaker 2 (01:17:44):
Interesting, Let me come back to Brexit specifically in just
a couple of moments. But Trump said, and I'm sure
you're well aware of, but he said, the EU is
not the UK. We can probably work out is it
a balance trade relationship? And is starmer and labor the
sort of government that could work out something with Trump
a conservative, Well, not.

Speaker 25 (01:18:03):
The way it's going at the moment, and not especially
given the fact that you know, they've decided the ambassador
to Washing to Peter mandlssoon and I can't imagine, you know,
I think I would be a more diplomatic choice than
Peter Mandleson as being our ambassador in the USA. So
don't forget there's a back history there of senior members

(01:18:27):
of the Labor Party calling Trump all the names under
the sun. And still a problem regarding deporting immigrants and
indeed on the issues of both Ukraine and Gaza. So
there are still big problems there. But there is a lifeline,
you know, and if Trump holds out, you know, you

(01:18:49):
won't be subjected to our tariffs. The EU will. That
is an extremely good deal for US.

Speaker 2 (01:18:54):
I reckon as regards brixt In as quiet moments, would
starm a lie like to get back with the EU
in some form or not.

Speaker 25 (01:19:04):
Yes, I think that's what lies under these a lot
of this that he would like to draw closer. We
certainly there are many within the Labor Party, though not
on the far left of the Labor Party, but in
the Labor Party who would like to come a lot,
a lot closer towards Europe. And you know, cement various

(01:19:25):
things like the European coffee, human rights, and maybe agree
certain things on trade, tariffs and production and greed issues
that will be watched with grave suspicion by people in
the country. But it will also be washed with a
degree of suspicion by Donald Trump, of course, who has
excused us from his blanket condemnation of the EU because

(01:19:48):
we're not in it.

Speaker 2 (01:19:50):
What's the view each anniversary of Brixit And I suppose
it's a redundant question, but nevertheless the idea of bricks
and what it could have been versus what it turned
out to be because things happened, like you know, the
world didn't go to free trade the way that many
thought it wouldn't. It's some more isolationist placed in other words,
you know, events, events overtook it. If you head the

(01:20:10):
Bricksit voting again today work.

Speaker 25 (01:20:12):
Yeah, We've been debating this recently and there is no
question that Britain has not made the best of Brexit.
It has not taken all the advantages of a past
towards free trade away from the restrictions of the EU
that it could have done. And at the same time,
there has undoubtedly been economic harm occasion by the fact

(01:20:35):
that we left, particularly for companies which are exported to Europe.
So yeah, there's a feeling that that we've messed that up,
haven't taken advantage of it. And my suspicion is, even
though I'm not on that side of the argument, I
think if there was a vote tomorrow, the majority would
say go back in.

Speaker 2 (01:20:52):
Yeah, a couple of quick things, you don't mind. I'm
reading about your new law and endangering lives at sea.
This is the smugglers is to be a new criminals.
Is that going to work.

Speaker 25 (01:21:03):
I'm never sure how much new laws work there sometimes,
especially when we have a government of lawyers, which is
what we do at the moment. Perhaps it will, Perhaps
it will. I mean I hate to be sort of
continued condemnatory of this government, but it is a problem,
and piraty is a problem and so on. Indentating lives

(01:21:26):
at sea is undoubtedly one of the major problems. But
I can't see, given the amounts of money that people
make from this, that it will deter them very much.

Speaker 2 (01:21:35):
Chris Philp I'm also watching over the weekend Shadow Home Secretary.
He says Britain needs a bit of work ethic.

Speaker 12 (01:21:41):
Is he right?

Speaker 25 (01:21:43):
Well, it would be nice if a large portion of
the people living in this country actually went to work. Yes,
I think that will be great. We'd all share that
we've got nine million people out of work mate, you know,
and yes some of those are students. Some of those
people are you and lie Ill. The rest are just
swinging the lad as far as I can see, and

(01:22:04):
that is the first thing that this government has to
deal with.

Speaker 2 (01:22:07):
Good only, mate, Always a pleasure. We'll catch up on Thursday.
Rod little out of Britain for us this morning. Are
and just in reference that if you missed it earlier
on the report I was reading over the weekend which
was fascinating. And they also say there was a very
good article I read about shoplift as being out of control.
So they've got the same sort of post COVID malaise
that we have, which teends to happen when you get
left leaning government's running places. They've seen it in Germany,

(01:22:28):
we saw it here and they're seeing it now in Britain.
But the farmland nine percent of farmland could be cut
to meet green targets is from the Department of Environment,
Food and Rural Affairs DEFRA. A fifth of the UK's
agricultural land will eventually need to change a fifth. That's
twenty percent. It's incredible, isn't it? Just to chase green Target?
Sixteen minutes away from nine.

Speaker 1 (01:22:49):
The High Asking Breakfast Fall Show podcast on iHeartRadio powered
by News Talks.

Speaker 2 (01:22:54):
At BE This time yesterday was Steve Price. We were
talking about a woman called Joe Haylo, who is the
new South Wales Transport Minister. Well she's at the moment.
I suspect it won't last much longer. She was the
woman who hired the ministerial driver plus ministerial car and
when I say hi, she didn't pay for it. She
just said, hey, Brian, we're all off up the coast

(01:23:17):
to my holiday home. And that was a four hundred
and something four hundred and forty six kilometer trip round trip.
He worked thirteen hours, took them out for lunch in
the Hunter Valley. So when this became public, she of
course went, h that doesn't pass the pub test, doesn't
and mins who runs new Southwalk Coast, No, it doesn't, Joe,
So she apologizes this Mornings development. She didn't get sacked
for it though, which I thought was a sackable offense.

(01:23:38):
I mean if you were doing a bit of business.
You know, you went up halfway and you did your
ministerial duties and then you sort of carried on, you know,
even though you're an idiot, you could probably go. But
but but she just went away for the long weekend
with her mates. That's all that was. Unfortunately, the small
and she didn't get sacked or quit. She should have
offered to quit, of course if she had any morals,
but she didn't and she wasn't sacked. This morning's news

(01:24:01):
is that the driver, not necessarily the same one called Bruce,
but nevertheless a ministerial driver and car has been collecting
her kids and doing the sports run. So I think
that's probably the beginning, in the middle and the end
of her Morning Mike. Never if you asked this question
out of the Prime Minister's in view, not an unfair
question to ask, Morning Mike. If you're going to do
build fairies from scratch, then why can't they make them

(01:24:22):
to match the existing ports set up? A fair question,
But you've got a couple of things in play. One,
if you're building them from scratch, can you get them
by twenty twenty nine or are you going to have
to go secondhand. Two, if you can build them from scratch,
how long does that take? Are they rail enabled? Are
they not rail enabled? And what sort of cost are
you're looking at versus something that's already been built, And
if the thing that's been built is rail and enabled,

(01:24:43):
not rail enabled, big or smaller whatever that you're trying
to line up a you know there's a few ducks
to line up there, Mike. Why must the top personal
rate be reduced if the company tax rate is reduced? Ireland?
And you raise a very good point because we were
discussing it off air. Ireland's top rates forty company rates.
I think it's about ten. It's you don't have to.

(01:25:03):
There's no law saying you have to, but it is
a thing if high income owners can often reorganize themselves
into a company. So if the company is paying ten
cents and the top individuals paying forty, it behooves you
to become a company, and a lot of people do,
and therefore there's leakage there, Mike. Australia tax rate twenty

(01:25:24):
five cents, personal rate, top rate forty five cents plus
five cent medicare, etcetera. So there are examples of people
who do it. It's just not it's accepted generally as
not being ideal from are you a company or a person?
I can't possibly, I can't possibly divulge the intricate workings
of Hosking Inc.

Speaker 1 (01:25:42):
Because sometimes I feel like when I'm talking to you're
a person and in other times you seem one more
like a company.

Speaker 2 (01:25:48):
Well it could be both clean I could be domiciled
off shore as well. For all you know. It is
nine minutes away from nine.

Speaker 1 (01:25:55):
The make Hosking breakfast with Vida Retirement Communities News.

Speaker 2 (01:25:59):
Tom said, like I always thought of you as more
of a shell corporation history, Frank, I sometimes wondered if
you were limited.

Speaker 24 (01:26:08):
It's for sure.

Speaker 2 (01:26:11):
So Allie Williams and Anna Mobray for people outside of Auckland,
you probably don't know who they are in Nordy. Your care.
The only reason I mentioned Ellie Williams this morning is
was once in all black. Anna Mobray is part of
the Zuru grouping worth a lot of money.

Speaker 1 (01:26:27):
And person or company.

Speaker 2 (01:26:29):
Very good question. Anyway, they bought a house and I
happened to be in their street the other day. And
it's a little street, it's almost a cul de sac
and it's a beautiful street and it's a very nice
place to live, and they can afford to live there
because they're very successful people, and on that we congratulate them. Unfortunately,

(01:26:50):
they decided, for reasons best known to themselves, that landing
a helicopter there would be something they might like to do.
So they made the appropriate paperwork and the Commissioner Mark
was set upon the task and he decided to publicly
notify the application on the basis that it affects the environment.
The environment I think he means birds, but I would

(01:27:10):
say probably the neighbors, because I know a bit about
helicopters and they tend to be quite loud, especially in
small cul de sacs. Not that I've ever been in
a helicopter in a small cul de sac, but my
guess is that they're pretty damn loud. And so a
lot of people I'm reading this morning, not surprisingly, have
gone they don't like that idea. Neighbors, Eh, what do
you do you think that the nobraries were travel by

(01:27:30):
a balloon? That's almost clever. Five minutes away from nine.

Speaker 9 (01:27:38):
Trending now Warehouse, the real house of frequencies.

Speaker 2 (01:27:43):
So Sam kurzen Court, she's the Matilda striker went out,
got a bit pisted, got in the back of a cab.
This is January twenty twenty three. Cab driver goes enough
for someone's in mockap trying to break a window, so
he rings the old bill and she was arrested, charged
with criminal damage and racially aggravated public disorder. So everyone goes,
I wonder what you did. Well, now we know because
we've got body cam footage played on the first day

(01:28:06):
in court.

Speaker 27 (01:28:07):
Did you stay on the phone long enough to even
speak someone?

Speaker 10 (01:28:09):
That's the thing, okay, but they wouldn't do that.

Speaker 27 (01:28:12):
Though they wouldn't do that, you should have spoken to the.

Speaker 25 (01:28:20):
Honestly, you have stupid and white.

Speaker 6 (01:28:23):
Okay, so stupid, I'm over. This is the world problem.
Wait on the call, Wait on the call.

Speaker 27 (01:28:39):
Wait all right, I'll go over at the moment. Then
at three seventeen, you're under rest for criminal damage because
there's an allegation that you've smashed that taxi window. You're
also under rest for rachel aggravated public order. So there's
comments that you've said the reason that's fine.

Speaker 2 (01:28:55):
So stupid and white is what you call them. That's
that's what this boils down to uh on that. I'm
on her side on the behavior. I'm not, obviously, but
courts have got bigger fish to fry than calling somebody
stupid and white. I mean, you shouldn't call people stupid
and white. You shouldn't land the helicopter in a culder sack.
I mean, there's a lot of stuff in life you
shouldn't be doing the same way that I have for
the life of me. I mean, no, you don't kiss

(01:29:17):
a woman after the World Cup in a way that
he kissed the woman. But that's in court as well,
and I'm thinking that's a lot of court time and
a lot of bollocks, isn't it. Goodness sake, We've got
bigger fish to fry. I think I told that to
the Prime Minister this morning and some of you didn't
like that either. Please if you've texted me this morning
not liking that, and if you don't go to the Biggessa,
because that's a waste of time as well, go buy

(01:29:39):
a helicopter and land it in the cul de sack.
You'll have a better day. Back tomorrow from six Happy Days.

Speaker 1 (01:29:49):
For more from the Mic Asking Breakfast, listen live to
news talks it'd be from six am weekdays, or follow
the podcast on iHeartRadio

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