Full Show Podcast: 10 April 2025

Episode Transcript
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Speaker 1 (00:00):
Your source of freaking news, challenging opinion and honors facts
The Mike hosting Breakfast with a Veda, Retirement Communities, Life
Your Way News, togs Head.

Speaker 2 (00:10):
B wruning one because today Reserve Bank cuts in the
world of uncertainty and finance Minister is in. We've got
to call up in the emissions trading scheme again. A
shul Fitzpatrick on Doc Manage, Very good day for wool.
Peter Wins, a former Williams f one manager back for
a look at this weekend in Bahrain with Liam mc course,
Joe mckenner and Italy rod that does the UK for
us in a seven past six Welcome to the day.

(00:32):
I tell you what I'm conflicted in the age of
tariffs and free trade and making stuff that the world wants.
How is it? A government can then argue that you've
got to buy wool if you are redecorating, rebuilding, refurbishing,
A major chunk of your consideration will be around cost.
Of course, ken will outprice what might be your desire
for the cheapest product. Going No, it cannot can wall
mount an argument that overtime it pays its way. Possibly,

(00:54):
then we come to the patriotic. Should we support things
we're good at? I think so probably If if you're
a regular, you will know that no one loves wool
more than me. I would pay anything to support wool.
I'm a natural fiber geek. Polyester should be a crime
and banned. Funnily enough, I read a report yesterday about
the return of fur. Fake fake fur is now so
good you can't tell the difference. But it's made out

(01:16):
of petrochemicals, of course, So in banning the real thing,
to say the animals, we simply set about trashing the
earth more to quell the demand for fur that never
really went away. The demand for cheap flooring is driven
solely by price. Of course, wool for what it lacks
and price does make up for. In vibe, I mean,
it's amazing, amazing, and carpet amazing and jersey. But are
the government picking winners or the government artificially backing one

(01:37):
over another? And if they are in that business, where's
the line? Why is it okay to make you buy wool,
but at the same time allow any number of new
building products into the market to cheapen the price of
the building a house. Why aren't they making us by
a jib price one day, quality the next. There's an
inconsistency in that. You see, the wool fan in me says,
go for it. Wool needs and deserves help. It's been

(01:57):
badly treated. And if this program makes a difference, and
we can all feel good about it. But the purest
in me see is for a free trader, we favor
quality and will is quality. But the reason we don't
make a lot of stuff is because we can't make
it at a price we want to buy it at.
And that is smart, sensible business.

Speaker 3 (02:14):
News of the World in ninety six, Well, I.

Speaker 2 (02:16):
Think we can call it the third War. Can't lead
the trade wars. The EU hits back.

Speaker 4 (02:20):
Grains, to paper products, to poultry, to motorbikes, even to
dental floss. And the most significant chunk will be on soybeans,
which is one of the United States top exports.

Speaker 2 (02:36):
Exactly so, the EU have gone retelliatory. China has also
gone big. But there's this ongoing sense for some of
us the US China scrap might actually help.

Speaker 5 (02:44):
It's inconceivable it can export too much except for the
absolutely most critical items. At one hundred and four percent Terrifrey,
it is going to look for other markets, and so
it will effectively be dumpy exactly.

Speaker 2 (02:56):
Trump meantimes playing the sophisticated diplomat.

Speaker 6 (02:58):
I know what the hell I'm doing.

Speaker 7 (03:00):
I know what I'm doing, and you know what I'm
doing too.

Speaker 6 (03:02):
That's why you.

Speaker 2 (03:03):
Vote for man.

Speaker 8 (03:04):
I'm telling you, these countries are calling us up, kissing
my ass. They are. They are dying to make it your. Please,
please make it your I'll do anything.

Speaker 2 (03:14):
He is such a dick. And so that was before.
Of course, what happened this morning. He's panicked and we've
got the ninety day pause and we'll have a lot
on that meantime. The other Chinese news, by the way,
is a national has been captured in the Ukraine, not
the Beijing. Sounds like the gunhil.

Speaker 6 (03:28):
Let me stress.

Speaker 9 (03:29):
The Chinese government always asks the citizens to stay away
from conflict zones, avoids getting involved in armed conflict, and
to refrain from participating in any party's military operations.

Speaker 2 (03:40):
Other news kings.

Speaker 10 (03:41):
In Italy, our younger generations could now see in the
news every day on their smartphones and tablets that peace
is never to be taken, never to be taken for granted.

Speaker 2 (03:55):
And universal opening a huge new theme park in the
global mecher of Bedford.

Speaker 11 (04:01):
The UK obviously is a logical place for a park
like this, given the creative industries of the UK, given
the workforce in the UK, given the importance of tourism
to the UK.

Speaker 2 (04:17):
Okay, here's the world of ninety right, Listen, I just
get to just all developing the last half hour, the
markets have gone through the roof. So essentially what happened
the other day in that rumor that he was going
to give us a ninety day pause was probably true.
It's been announced in the last half hour or so.
So two critical things. One, China's gone to one twenty

(04:39):
five from one oh four, so the China US wars
on the markets have gone through the roof. That Nasdaq,
the Dow will get all the numbers, will crunch them
for you in just a couple of moments. There's a
ninety day pause for everyone bar China. But the ninety
day pause is that the ten percent so countries and
this doesn't include us that got more than ten percent
that's gone now. So basically he's panicked. He argues, of

(05:02):
course everyone's ringing for deals, which is probably partially true.
As I said, to Andrew a moment a guy, but basically,
this thing's falling the pot in front of their eyes.

Speaker 1 (05:09):
Twelve classics, the Mic Asking Breakfast Full Show podcast on iHeartRadio,
Call It by News Talks IVY.

Speaker 2 (05:20):
Among the clowns who surround the hid clown, one of
the chief clowns is the Treasury Secretary trying to explain
this cluster.

Speaker 12 (05:27):
And we saw the successful negotiating strategy that President Trump
implemented a week ago. Today it has brought more than
seventy five countries forward to negotiate. It took great courage,
great courage for him to stay the course until this moment.
And what we have ended up with here, as I
told everyone a week ago there in this very spot,

(05:53):
do not retaliate and you will be rewarded.

Speaker 2 (06:00):
Two past six from Joe my Wealth Andrew keller Haer,
Good morning, Good morning, Mike. Where do you start? I mean, what.

Speaker 13 (06:05):
A well, We're.

Speaker 14 (06:07):
Living in an alternate universe really at the moment, aren't we,
did I say yesterday?

Speaker 6 (06:11):
It's hard to keep up.

Speaker 13 (06:13):
Yes, so crazy stuff continues in the last hour, as
you said, news out that Trump is authorized in nine
to day pause on tariffs for countries that don't retaliate
to those tariffs that.

Speaker 14 (06:23):
Were announced earlier on So yep, your sher Mirker.

Speaker 13 (06:26):
Has absolutely exploded to the upside. I mean a ten
percent move. I mean it was tencent, Well it was
ten percent a second ago on the NASDAK, eight percent
moves on the S and P five hundred, the Dow
jones sort of six to sevens. But who knows where
that will close? I mean you know you wouldn't. You
wouldn't be able to bet on whether it's actually going
to close the day. Look, the trade war with the

(06:46):
China is actually really ramping up, that's escalating, and all
those tariffs, those crazyly calculated tariffs that announced the other day,
well they're all off the table. There's a ten percent
baseline tariff for everyone, and nothing happening for ninety days.

Speaker 14 (06:58):
So look, it's confusing though.

Speaker 13 (07:01):
Because Europeans overnight have announced retalitory trailer that seems to
be put on the back burner at the moment, so
we don't know what's happening there. I was also listening
to Scott Bess and Mike and there's just no facts.
There's just this lack of sort of clarity and then
that usual crazy, colorful rhetoric from the White House media spokesperson. Look,
facts will be great, but they seem to be hard

(07:21):
to come by. The ninety dight pause apparently to give
Trump time to deal personally with the seventy five countries
who who want to talk, and it does feel like
policy is being made on the hoof and all power
seems to come back to Trump. It all seems very fluid,
very dictatorial. Kiwi dollar has jumped. It was in the
mid fifty five, it's in the fifty six. As you know,
before this all started, Mike, I was going to talk

(07:43):
about the crazy volacility that we've seen in bond markets.

Speaker 14 (07:47):
They've been swinging wildly. The end result there at the
moment is.

Speaker 13 (07:50):
We've got higher long term rates, which will effectively increase
the cost of borrowing for the New Zealand government, but
that's been put on the side burner.

Speaker 14 (07:57):
Uncertainty levels are now it's sort.

Speaker 13 (07:58):
Of maximum, Mike, they're at sort of deaf con five
and an uncertainty is kryptonite for financial markets. But right
now it's driving markets higher. But who knows what's going
to be around going to be announced neck We've just
got to sit and wait for this sort of day
to day you know, as day's a yo yo, the
magic roundabout.

Speaker 2 (08:17):
I'm pulling it, Mike, the magicound exactly. And then there
in the middle of it all was poor old Christian
lined up for six months with us, with us twenty
five points?

Speaker 14 (08:25):
Are we there yet?

Speaker 2 (08:26):
Are we there yet?

Speaker 14 (08:27):
So the ocr is now at three and a half.
I don't think we're there yet.

Speaker 13 (08:30):
There's further downside, and it could be it could be lower.
That downsid could be lower than we were thinking. The
positive development is the expected interest rate relief is being
delivered twenty five basis point cut. You know, people were
talking fifty basis points possibly beforehand. I don't think that
was ever likely they'd signal twenty five. They've moved a
suggested they're not wait for the data now. If you
want the water cooler line this morning, if you're sitting

(08:52):
out there, if you want the punchy one liner.

Speaker 14 (08:55):
It's a douvish cut. There was a short statement.

Speaker 13 (08:58):
The key facts in there a household spending, residential investment
has remained weak.

Speaker 14 (09:03):
On the tariffront, they said yesterday.

Speaker 13 (09:05):
The increase in global trade barriers weakens the outlook for
global economic activity. Retaliation and heightened geoeconomic uncertainty will have
a significant negative impact on global growth.

Speaker 3 (09:17):
But that's just so.

Speaker 14 (09:18):
Yesterday's news might.

Speaker 13 (09:20):
All adds up to downside risks to inflation and growth
are key. The key point is they confirmed in their
view that this substantial spare productive capacity remaining in the
economy that gives them the confidence to be able to
cut more. But you know, the situation is confusing and uncertain.
They said that yesterday near true word is spoken jest.
There was a nod to the lower oil price now

(09:43):
no specific mention of a further twenty five basis point
cut in May, but they did say that the preceding
cuts have yet to have a full effect on the economy.
As the extent and effective tariff policies become clearer, the
committee has scope to lower the ocr further as appropriate.
So not much move on local markets yesterday in response
to that, because really, he's this bigger fish to fry

(10:04):
out there at the moment.

Speaker 2 (10:05):
Ru I think that the truth give us the numbers
as best you can as.

Speaker 14 (10:08):
They roll right now.

Speaker 13 (10:10):
Yeah, so just a little two thousand, six hundred and
ten point gain on the dal Jones, which is, let's
call it seven percent for let's let's round it forty
two hundred and eleven the S and P five hundred. Yeah,
let's call it a four hundred point rally there, let's
call that up eight percent, five to three eight zero.

Speaker 14 (10:30):
And then as that, let's just round it up. It's
up ten percent.

Speaker 13 (10:32):
It's up one thousand, five hundred points sixteen thousand, seven
hundred and fifty overnights, the fortsy one hundred lost two
point nine percent, should gain that back today seven six
seven nine. The Niket was down just under four percent. Again,
that will rally hard today. I would expect three to
one seven one four the close Their Shanghai composite gained
one point three percent three one eighty six. The Aussies

(10:54):
yesterday the A six two hundred lost one point eight percent.
That's one hundred and thirty five point seven three seven four,
And then's the next fifty was down point seventy one
eleven thousand, eight hundred and six kimi dollar as I
looked at it five minutes ago, point five six four
seven against the US point nine one nine five ozzie
point five one three ozero euro point four four oh

(11:15):
seven pounds Japanese yen eighty two point six y eight.
Gold has rallied a little bit three thousand and seventy
two dollars brank Crews sixty four dollars and four cents.

Speaker 14 (11:23):
But you know, we could be in a different place
tomorrow morning.

Speaker 2 (11:26):
Mike, Well, no, thank the good lord, you're here. Nice
to see you, Andrew Kelleher, Jomiwealth dot co dot m
z pasca And to give you a sense of it,
Canalis had come out this morning. Personal computer shipments as
global personal computer shipments are up nine percent for the quarters.
That good will. Normally it would be good, but that's
because everyone was panicking about the incoming tariffs. Apple ship
fourteen percent more than Nobo were up eleven percent. So

(11:49):
it might be good, it might not be so who
the hell knows anymore? Six twenty one. You're a news
talk ZB.

Speaker 1 (11:56):
Good the Mike asking Breakfast full show podcast US to
iHeartRadio Power by US Talks.

Speaker 15 (12:02):
It be.

Speaker 2 (12:04):
Six twenty four so I Scottisent was explaining that although
this is a war and a full on trade war,
of course, actually it isn't a war.

Speaker 6 (12:13):
I'm not calling it a trade war.

Speaker 12 (12:15):
But I am saying that China has escalated, and President
Trump responded very courageously to that, and we are going
to work on a solution with the our trading partners.

Speaker 2 (12:28):
So you go from thirty something to sixty something to
one hundred and four to one hundred and twenty five,
and that's not really a trade war. Meantime, Carolyn has
taken her pills and she's running full spin. Many of
you in the.

Speaker 15 (12:39):
Media clearly missed the art of the deal. You clearly
failed to see what President Trump is doing here. You
tried to say that the rest of the world would
be moved closer to China, and in fact we've seen
the opposite effect. The entire world is calling the United
States of America not China, because they need our markets,
they need our consumers, and they need this president in

(13:00):
the Oval Office to.

Speaker 6 (13:01):
Talk to them.

Speaker 1 (13:02):
Trending now with the Chemist where house Keeping Kiwi's healthy
all year.

Speaker 2 (13:07):
Round Movie time Wes Anderson's beck what we got, We
got the Phoenician scheme. It's black comedy about a strained
father daughter relationship and the passing down of the family business.

Speaker 11 (13:16):
I've appointed you sole heir to my estate, which you
may come into sooner rather than later.

Speaker 3 (13:23):
Why it's been six years since our last meeting. I
have my reasons, which are what my reasons I'm not saying.
I'm saying. I'm not say quarter our land and sea,
Phoenician infrastructure.

Speaker 2 (13:35):
Scheme, our objective, disrupting, obstructing, impeding, crippling quarters, enterprise in.

Speaker 3 (13:41):
Any manner possible.

Speaker 6 (13:42):
Get the hand grenades.

Speaker 8 (13:45):
Today, tonight, and tomorrow we're rendezvous with every titan and
pretend we agree what we already agreed, but in fact
we don't.

Speaker 3 (13:52):
We can It's one king will never know.

Speaker 6 (13:54):
Because you can't the truth.

Speaker 3 (13:58):
I suppose.

Speaker 2 (13:59):
I'm moved by this serve performance sounds fun. I quite
like the sound of it. Del Toro's in there, Tom Hanks,
Scarlett Johansen, benet At cumber Patch, Brian Cranston, Michael Sirah,
Bill Murray, Willem Dafoe, Jeffrey Wright, Donald Trump, the Pope,
Walton Goggins. They're all in there. It's incredible. The cast
is amazing. I might have made some of the last
ones up. It's in theaters the thirtieth of May, by

(14:21):
the way, not that it sort of matters anymore, but
we will talk about the central Bank and the cut yesterday.
The Indian Central Bank, by the way, they cut yesterday
as well, twenty five points. They were hit up until
this morning with a twenty six percent levy, so they
cut their a cash rate or what they call the
cash right to six percent. More importantly, perhaps is the
Germans overnight have finally done a deal. They thought it

(14:43):
was going to be tickety boos until it wasn't. But
the Democrat Union and the Socialist Union they've all got
together and they've signed it off. A deal has done.
Germany officially has a new government. News for you in
a couple of moments. Then we'll talk about the ets.
Somebody wants to uphend it yet again. What a morning.
I on the MIC hosting Breakfast.

Speaker 1 (15:04):
The News and the news makers the Mic hosting breakfast
with the range Rover of the law designed to intrigue
and use talks dead base.

Speaker 2 (15:13):
Just joining us a tool on the triadballs on with China,
It might be on with the EU. It's difficult tonight
because the pools has been announced as well. He is, Caroline.

Speaker 15 (15:21):
We will continue with the tailor made negotiations that I
spoke about yesterday in the meantime, there will be a
ninety day pause on the reciprocal tariffs as these negotiations
are ongoing, and the tariff level will be bringing brought
down to a universal ten percent tariff.

Speaker 2 (15:34):
So that was all surprised breaking news, or was it that.

Speaker 12 (15:37):
The President had the a level in mind to raise
the China tariffs and then he had the three month
essentially the three month polls in mind, and we were
just discussing the exact wording.

Speaker 2 (15:53):
Exactly what where do you put pools? Does the pools
go at? The start will be into the Saints bit Goodnes,
three minutes away from seven. Maloney I think was due
to meet Trump in the next day or so, because
she's hanging out with the King in Italy at the moment. Anyway,
I will go to Joe in a couple of moments. Meantime,
back here, more inkst around the planting of trees to
help offset our global emissions. Now Parliament's environment watchdog. This

(16:16):
is Simon Upton. You might remember the name from healthy
years ago. Anyway. In a new report, he warns is
only ten to fifteen years left if changes aren't made. Basically,
he's gunning for carbon farming. Completely removing the ability to
plant trees for credits is being proposed. Adjunct professor at
the New Zealand Climate Change Receipts Institute, Adrian Macy's back. Well,
this is Adrian morning to you.

Speaker 16 (16:34):
Good morning mate.

Speaker 2 (16:35):
Does he have a point or is he dreaming?

Speaker 16 (16:38):
No, he is a point, he does. Yeah, this is
in my view, this is a great report. It's a
real wake up corps Goosa cliche.

Speaker 2 (16:46):
Is anyone going to listen to it?

Speaker 17 (16:47):
Though?

Speaker 2 (16:48):
Because planting trees are super easy and that's why we
planted so many.

Speaker 16 (16:52):
Well, yeah, we've always seen that as a well well
I say successive government seen it as a get out
of jail free card member labels, that's billion trees. But
in fact I would say, if you want to use
a metaphor, it's never been a get out of jail Afrika.
At the very most, I'd see it as a sort
of suspended sentence. But you're going to be recalled for
jail a few years down the track. So I think

(17:14):
it's a very useful wake up. But what he's actually
saying is, for goodness sake, just just have a proper
look at this policy, not just from the climate change
point of view where there's a lot of skepticism about
using trees to mop up carbon to go too, I'm
talking about and have a look at the pology is
a massive issue in Zealand as a whole, and I
think it's very It's written in very plain language for

(17:35):
a report, and it's much clearer than anything you get
out of governments. And he's done a marvelous job because
an ordinary average person could read that report, even just
for summary and see what's going on, which I would
say probably if you asked, if you ask people to
explain New Zealand's current policies around forestry, probably could count
on things on one hand and you want to give

(17:55):
you a coherent explanation. It's been all over the place
for years.

Speaker 2 (17:58):
That is true. The current government is looking at planting
more trees on public land or conservation land by private entities,
So they're going against Simon's tide.

Speaker 16 (18:10):
Well yes, yes, currently, But I mean what he's saying is,
what he's really saying was is don't leave forestry in
the hands of climate policy people, because forest has got
so many applications for the whole of New Zealand, social implications,
economic implications, environmental land use the future of local communities.
He has developed an idea which he's worked on before,

(18:33):
about using about seeing forest is more appropriate for offsetting methane.

Speaker 6 (18:38):
Now.

Speaker 16 (18:38):
The reason for that is that methane has not long lived,
where a co two lives forever. That I think is
he could be useful for our farming sector in the end.
But the main message I think is seeing all dimensions
of forestry policy get your act together. I mean, this
big issue is coming for Mari too. There's this big creatuate,
the White Tangi Tribunal inquiry. We're currently our climate change

(19:01):
with Forrest, who's got a big role to play. So
that's it's going to be something coming out of that too.
I think it's going to be relevant. Yeah, it's a
core to be to be coherent, I think, and sensible
and really bite the bullet on the climate stuff.

Speaker 2 (19:12):
Good stuff, Adrian, appreciate your insight. Adream mostly a junk
professor at the New Zealand Climate Change Research Institute and
interesting of course. Simon Upton, if you remember him from
the Health Days, is a Gnat a conservative of course,
so he speaks a slightly different a liberal. He's a
Gnat of old if you want to put some polem
political labels around at nineteen minutes away from seven past,
like I'm choosing Wall speaking, which is it's much about
preserving an industry that we have to believe will have

(19:34):
a bright future. It's saying not to important materials and
keeping the revenue in New Zealand, it keeps rural employees
and work, the stock agent, the stock truck driver, of
the rural professionals duty. I couldn't agree with you more,
but that's fine if that's the government's view of the day.
They're picking winners. And you know, I love wool and
in this I would back it. But I'm running with

(19:55):
my heart, not my head. And we are not a
country that runs with our heart. We run with our head,
and we do things on price, not necessarily on love.
And in that is the crux. Nicola was there yesterday
with Winston. This is a Winston Peter's policy. By the way,
Nicola was there with Winston. She's with us and about
a naur's time.

Speaker 1 (20:12):
Eighteen to two The Mike Hosking Breakfast Full Show podcast
on iHeartRadio powered by News.

Speaker 2 (20:19):
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dot m Z Pasky. Everyone's got a theory. Mike the
US Tenure Treasury spiking ten trillion of debt to be
refinanced this year. They can't afford at gold spikes one
hundred and ounce before he folded to the rising treasury

(21:21):
yield and as don as no doubt either way they're
gone as nobody wants the debt not a bad points
at forty.

Speaker 18 (21:27):
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Speaker 2 (21:33):
Join McKenna, mooney to you good money make Charles went
down well in the Parliament. You've got a very long
standing ovation.

Speaker 6 (21:39):
Yes.

Speaker 19 (21:40):
Italian MPs I think were pleasantly surprised when Prince Charles
opened his speech in Italian, and then he proceeded to
say he hoped he wasn't going to destroy the language
of Dante, who is, of course the country's most famous
literary figure. He moved in and out of Italian in English,
but talked about the you know, the common the things
that these two countries have in common, and the defensive

(22:01):
values and sharing the same interest in saving the planet.

Speaker 2 (22:04):
How much coverage is he getting? How much would the
average Italian be aware that he's in town, moving about
the country celebrating this twenty wedd et cetera, et cetera.

Speaker 19 (22:14):
I think he's had a lot of coverage. There's a
lot of interest in royals in general in Italy because
of course they got rid of the royal family after
World War Two, and there's a bit of a mystique
about the British that the Italians I think still love,
and I think they also recognize that Prince Charles loves
Italy and that's been coming across in his presentations as
well very much.

Speaker 2 (22:34):
So is he going to see I know he got canceled,
but the Pope popped out the other day to say
hi to everybody. Is the King going to say hello?

Speaker 19 (22:42):
Well, there was speculation that King Charles would go and
see Pope Francis, but particularly because he did pop out,
as you said, but I don't think that's going to happen.
The Royal couple are due to leave for Ravenna tomorrow
and I don't think they've got any time to see
the Pope now anyway.

Speaker 2 (23:00):
Okay, work us through what's going on here, because overnight,
I mean, I'm sure you're well aware of what Trump's
minus so, but you got China, but the EU came
out with retaliatory measures overnight. Are they now off?

Speaker 6 (23:11):
Do we know?

Speaker 2 (23:12):
And where does this we fit into this? And are
they playing their own game or the EU game? Yeah exactly.

Speaker 19 (23:18):
I think that's the challenge here. The EU was ready
to impose twenty five percent tariffs on the US everyone
except Hungary. Maloney, as we know, is planning to visit
Washington on the seventeenth of April to meet with Trump
to try and get Italy out of the tariffs. Today
there were complaints from the French industry minister Mark Ferraci

(23:41):
is saying it's not fair that Italy tries to go
it alone. But of course that could all change overnight
when we get more information about what Trump is actually
proposing for Europe.

Speaker 2 (23:50):
Yeah exactly. And she's due next week, isn't she Exactly?

Speaker 19 (23:54):
And at the same time, we're expecting a visit from
Vice President jd Vance here in Italy.

Speaker 2 (23:59):
So it's all happening, yeeh. And then you come to
the olive What are you paying for a liter of
olive oil at the moment.

Speaker 19 (24:08):
At the supermarket? Around twelve euros I'd.

Speaker 2 (24:11):
Say so twenty twenty four dollars Yeah for a liter. Jeez,
it's still cheapish, isn't it. So anyway, the mafia's got
involved because it's like chocolates and coffee's gone through the roof.

Speaker 19 (24:21):
Yeah, not the first time. But last week there was
a very dramatic robbery. Five masked men almost a truck
heightst on the highway, kidnapped the driver, stole about three
hundred thousand euros worth of fresh olive oil. And that
just shows you how valuable it is. And it's called
green gold in Paulia. So look out for more of

(24:42):
that sort of stuff in the future.

Speaker 2 (24:44):
Always a pleasure, Joanas to catch up. We'll see you
next things. Stay just out of the EU. By the way,
what they were looking at in the retaliatory measures. Because
they've all gone home and they gone to bed for
the night, they were going to sting, poultry, grains, clothing metals.
They haven't actually released a final list of what were
looking at. There were two tranches of these retaliatory tariffs
to come in. One was April fifteen, in a couple

(25:06):
of days, and then another lot in May fifteen. So
you've got also the mixed picture. Trump's doing everything for
everyone while the EU is looking to do bits and pieces.
Here and there. So you've got the broad based scrap
between US and China, and you've got the specific scrap
between the EU and the US, and you've got the

(25:27):
broad based approach to the entire And just like what
I want to know from Nikola, by the way, when
she joins us after seven thirty, is how is it
the Charmers yesterday in Australia Jim Charmers Chancellor. How come
he called an emergency meeting? And that had the Reserve
Bank governor Michelle Bullock had had the Treasury secretary guy
called Kennedy in there an emergency meeting? Was that for

(25:48):
optics because there's an election campaign meantime? Our briefing came
from Nicola, who was reading a script on Tuesday in
a kind of well who knows, So is it an
emergency or not?

Speaker 1 (25:59):
Seen away from the Mike Hosking breakfast with Bailey's Real
Estate news dogs, they'd.

Speaker 2 (26:04):
Be breaking news in a world of breaking news this
Morningsey has told us. So they did meet the pope
before they left, So Charles and Kimilla went and saw
the pope, which is nice. If you want to read
something about the exposure. This goes back to the text
about the debt, and I think there might be some
insight into that headline how China could crush the US
housing market. The end of last year, foreign countries owned
one point three to two trillion worth of u AS

(26:26):
mortgage backed securities. That's fifteen percent of everything. So if
China wanted to hit America hard, that unload the treasuries,
and I wouldn't put it past them. It gets super
ugly meantime. Out of court yesterday, another loss for Trump.
Federal judge White House cannot bar associated press reporters. This
is ap from the White House, from Air Force one
from other secure spaces. District Court Judge Trevor McFadden, appointed

(26:50):
interestingly by Trump, a contrary to the First Amendment, stayed
the order requiring the White House to restore access from
taking effect until Sunday to give the White House time
to appeal, which of course they will. If you've forgotten
the story. Ap refused to call the Golf of Mexico
the Gulf of America, so Trump banned them. It does
not bestow special treatment upon ap SS, the judge. The

(27:12):
court simply holds it under the First Amendment. If the
government opens its doors to some journalists be at the
Oval office, the East room, or elsewhere. It cannot then
shut those doors to other journalists because of their viewpoints.
The Constitution requires no less.

Speaker 20 (27:25):
Remember when we thought that was the dumbest thing that
Trump had done.

Speaker 2 (27:28):
Those were the days. Ah, those were the simple times.
Five minutes away from seven.

Speaker 3 (27:34):
And the ouse.

Speaker 1 (27:35):
It's the biz with business fiber take your business productivity
to the next level.

Speaker 2 (27:40):
Well, probably the best example of the year doc that
throrounds the Trump thinking on tariffs is this belief that
Apple will repatriate its operations to the States to make
iPhones in America. Now that the head genius and the
Trump regime is Howard Lutnik, is he there or not? Okay? Anyway,
so Lutnik there he is.

Speaker 21 (27:59):
Now the army of millions and millions of human beings
screwing in little little screws to make iPhones.

Speaker 6 (28:06):
That kind of thing is going to come to America.

Speaker 2 (28:09):
No, it isn't. Because Trump then posted on truth social
that Apple will be moving to the US. They aren't,
but they are investing a chunk of money in the
new AI services and research jobs. Carolyn Lebbett yesterday repeated
that Apple were going to move to America. I repeat,
they are not Apple. Do you know how I know
they're not Apple said, we are not jobs Steve More
recently Tim Cork have said that they have seven hundred

(28:31):
thousand factory workers in China and you can't find that
many people in America. To hire financial research firm this morning,
Wedbush Woodbush Securities, they've gone step further. They've crunched some numbers.
If Apple were to move to the US, it would
cost Apple about fifty three billion and take three years
to move just ten percent of their supply chain to
the US. So that's backed up by the fact that

(28:51):
India has taken a little over three years themselves to
get up to only fourteen percent of Apple's iPhone volumes.
Then to the punter, what's it going to cost the punter?
This is where the tower such a stroke of genius.
This is why Lutnik should be given the Nobel Prize
for Economics. So before Trump added this morning's tariffs to China,
the investment firms were saying that your iPhone would cost
forty three percent more of Apple passed on the tariff

(29:13):
to consume it. So Wedbush, they're saying all the production
moving to us if they did that, which they aren't.
But if they did, your top of the line cell
phone would then cost six two hundred dollars because all
the millions of people will be busy screwing and the
screws for higher wage rate. But I'm sure Howard's already
thought of that. See, this is a time where you

(29:34):
think it's just reached Peat's stupidity, hasn't it. Eric Crampton
of the New Zealand Initiative, Lord knows what he makes
of it, and so he's with us. After the news
of seven o'clock, the wall thing we'll talk through because
it's great news for the wall industry. Peter Windsor, who
we're loving, he's back with the f one former Williams
team manager Nikola Willis the Finance Minister as part of

(29:56):
the program this morning as well. The news is next
though on the Mic Hosking boards.

Speaker 1 (30:03):
The only report you need to start your day the
Mic Costing Breakfast with Bailey's Real Estate your local experts
across residential, commercial and rural news talks head.

Speaker 2 (30:14):
Be seven past seven. Well Reserve Bank did what they
were expected to do yesterday, but the overarching theme, of
course is one of massive uncertainty in this morning. Some
events haven't held New Zealand Initiative. Chief economist Ic Crampton's
with us Eric morning.

Speaker 22 (30:26):
Good morning.

Speaker 2 (30:26):
Can you believe what you're seeing? Well?

Speaker 22 (30:29):
I was expecting more chaos and we're still getting it.
So it had a bit of insomnia. Wake up at
four in the morning, Okay, tariffs are still on. Wake
up at six thirty. Okay, tariffs looks like they're going
to be off. It is really hard for any business
to plan in this kind of environment. It's the chaos
is just going to continue.

Speaker 2 (30:45):
Do you reckon he's going to plan or not?

Speaker 6 (30:48):
No.

Speaker 22 (30:49):
I think he's just liked tariffs. I think that the
plans that get suggested are expost rationalizations. People see some
way that the market has moved that might potentially be
better official for something that Trump might all have wanted
to have done, and then reason that that must have
been the reason for it. In Congress today or I
guess our overnight, the guy who's responsible for administering the

(31:13):
tariffs was talking for two hours about how great the
tariffs are and how they're going to keep implementing them,
and was told during his speech that Trump had put
a ninety day pause on the tariffs. He presumably hadn't
known before Trump did it. I don't think that there's
any plan here at all.

Speaker 2 (31:34):
I don't know if this is in your wheelhouse. But
Trump a couple of hours before he made the announcement
on truth social said now is a great time to buy,
and he signed it off DJT, which is crypto. Is
he allowed to do? Is that I legal?

Speaker 22 (31:50):
It's hard to tell anymore. Whatever Congress has to be
willing to enforce, and so to the courts right of course,
could step in. Congress could be stopping him on all
of this. You wonder what the heck. For a while
prior to this, there's been all kinds of mini scandals

(32:11):
in congressional trading. So there's a Twitter account that would
follow Nancy Pelosi's stock picks, and she was always very
good at picking which stocks are going to move, and
people are always suspicious about it. So you could get
a stock index that to just follow her trades. I
would love to know what members of the administration's trades
have been over the past day, because when markets swing

(32:32):
this wildly, it's like banana Republic stuff, where if you've
got inside knowledge a little bit ahead. While you can
run front run the market.

Speaker 2 (32:40):
It's unreal line just quickly on New Zealand twenty five
is there in your view another twenty five? Or what
chance fifty is three neutral? Is it two to seventy
five neutral?

Speaker 22 (32:50):
Now everything's going to depend on what's coming out of
the US. There is good chance of stagflation, where the
US puts itself into recession through deliberate policy choices that
the FED has to try to respond to that. There's
a chance that that could go badly. Rising inflation generally

(33:11):
requires an increase in interest rates to deal with it.
But if you're having real GDP dropping more quickly than
that because of the craziness coming out of the administration,
then that can push you into pretty bad economic territory.
The Reserve Bank here is going to have to be
watching all of that very carefully. And also what's happening

(33:31):
then in China because they're getting hammered now with one
hundred and twenty five.

Speaker 2 (33:35):
Percent on time, well it was five minutes ago. Who
the hell knows, Eric Listen, I appreciate it very much.
Eric Crampton, New Zealand Initiative Chief Chief Economists ten minutes
past seven, Plump's got the full court of the White
House full of cars again. The other dye was Taslodytes
and as Karen, an indiecat. He didn't seem to know
which was which, which is a problem in in all
of itself. But he is talking about the terriffs.

Speaker 8 (33:55):
I thought that people were jumping a little bit out
of line there. We're getting yippie, you know, we're getting
a little bit yippy, a little bit afraid unlike these champions,
because we have a big job to do. No other
president would have done what I did. No other president
I know the president, they wouldn't have done it, and it.

Speaker 6 (34:13):
Had to be done.

Speaker 2 (34:15):
Asking now all the presidents and you're claiming out of
know Washington and just just stopping yippie. What a fantastic
day was for Wall yesterday, Government director for the agencies
to use Wall. We're appropriate in the construction and refurbishment
of buildings. The new fleece first procurement rules we'll get
underway July one will impact CEO and Andy Coy's with us.

(34:36):
Andy morning, Yes, good.

Speaker 17 (34:38):
Morning, make good day, great day for well, fantastic for a.

Speaker 2 (34:42):
Purist like me. I love Wall. I'd die for Wall
all that stuff. But for a purist, a government picking
winners does raise economic questions, doesn't it.

Speaker 6 (34:53):
Yes and no.

Speaker 17 (34:54):
I think what we're going to look at as a
value equation and increasingly where we're learning around the issues
around synthetic materials in the living spaces where we operate
and how that impacts on human health, and then looking
at the end of life, what happens to the materials
that go into landfill. We bury one hundred and forty

(35:17):
eight thousand tons of carpets every year in New Zealand,
and yet we're only producing one hundred thousand tons of wool,
and eighty five percent of that goes overseas, so you
can see how much synthetic materials going into landfill sites.

Speaker 2 (35:31):
Indeed, do you expect them to adhere to what? It's
not a rule, it's advice and they need to explain
it if they don't. But do you expect people to
get on board?

Speaker 17 (35:41):
It's a strong recommendation, and I think it's the sort
of decision which in two to three years time people
will look back and go, it was such an obvious solution,
why didn't we embrace it earlier?

Speaker 2 (35:55):
You'd like to hope, so, well, let's see how it goes. Andy,
appreciate it very much. Andy Cohen, who's the Will Impact
CEO with us this morning, thirteen past seven. Oh, why
would an iPhone cost more for New Zealand? It's not
a bad question. So you've got two things. Is, if
Apple relocates to America, which they won't, obviously, the price
of an iPhone goes through the roof, and therefore they'll
be selling iPhones around the world at exorbitant prices and

(36:18):
they'll slowly but surely go out of business because the
Chinese will be laughing. If they don't relocate to America,
which they aren't, they are then going to have to
deal because so much of their stuff is done in China,
They're going to have to deal with the tariff at
one hundred current this morning, one hundred and twenty five percent.
What do they do with that? Do they soak it up?
No they don't. Do they pass it on? Yes they will.
Who do they pass it on to? They pass on
all one hundred and twenty five percent to the Americans, know,

(36:40):
because they can't afford to, because America is their biggest market.
So they'll spread that around the world and they'll send
some to US, some to Australia, some to Europe. And
that's unfortunately how teriffs work. We're all affective. Fourteen past.

Speaker 1 (36:54):
The High Asking Breakfast Full Show podcast on iHeartRadio powered
by News Talks That Be.

Speaker 2 (37:00):
Shoan Fitzpatrick on Doc Mayhew before eight to sixteen past seven.
We've got to merger a confirmed there where met services
seems to have been coming for a while. They're going
to become one. The idea as we eliminate you know, duplication,
streamline services, save money, all that stuff. Science and Innovation
Tech Minister Shame Retty with a shame warning.

Speaker 23 (37:16):
Good morning.

Speaker 2 (37:16):
Make the time frame between what you thought you were
going to do and actually doing it now. Has somebody
been pushing back? Has there been a scrap on or
has this been a no brainer?

Speaker 6 (37:25):
Now?

Speaker 23 (37:25):
This has been a no brainer. I mean we've got
two organizations, two sets of infrastructure, two sets of back
off and unfortunately sometimes two different weather reports on the
same weather system, so the weather forecasting system. The view
was quite clear that we should follow international presidents, bring
these together, drive the efficiencies and put those efficiencies back
into the system.

Speaker 2 (37:44):
Are we going to have a lead agency as one
better than the other.

Speaker 23 (37:48):
NIWA will be the appearent to the acquisition, So NIWA
will be the lead going forward for authoritative meteorological advice.

Speaker 2 (37:55):
And what's the cost saving the job losses and the
time frame.

Speaker 23 (38:01):
So the projected monetized net present value benefits are roughly
three million dollars per annum is what the modeling has shown,
which we can drive back into improving weather forecasting. Jobs
still being determined as roughly six hundred to six hundred
and fifty jobs at newer three hundred at Meteorological Service,

(38:22):
and it's being worked out. We'll bring them together first
of all, and then we'll work our way through weather
duplications occur, but it is the intention to find those
reduplications and redirect that funding back in design.

Speaker 2 (38:32):
Obviously I'm not a meteorologist, but how is it possible?
Will you employ one thousand people to put out a
weather forecast?

Speaker 23 (38:42):
It is actually very complex, and remember they actually do
more than weather. If you look at what the NIWER does.
For example, it also deploys the dark Boy system all
around the world, so it is a much broader remit
than just weather.

Speaker 2 (38:56):
Actually, what would you expect to go from roughly not
holding you to it. But if a thousands too many,
what's the number?

Speaker 23 (39:04):
Look, that's i'd read that is uncertain. We couldn't predict
on that, but one we could imagine that the back
office is where some of the efficiencies will drive initially,
and then we'll look at where some of the duplicated
infrastructure might need to be reconfigured also and timeframe. We're
looking to bring legislation to the House in this next

(39:25):
three or four months, and then we'll drive the organizations
together once we've done that.

Speaker 2 (39:29):
Good stuff. Shame ready. Who is the Science Innovation Tech Minister?
And assuming they're going to need new stationary as well, Mike,
regarding wall carpets being used, would the Commerce Commission look
into this as the outside there are laws regarding fair
trading and unfair competition. Is not a bad question. Actually,
if there's a government directive to favor one product open
or another, and you've entered a free trade agreement with

(39:50):
somebody pack anybody who happens to export we import their
carpet materials. Well done, Well done you good question. By
the way, story that wasn't covered at all yesterday should
have been diesel importers have been required to increase reserves
to twenty eight days. There's been an ongoing concern of
the government and there are one hundred percent right on this.

(40:12):
The Marsden things are scandal and the previous government shouldn't
have done something about it. But we're now reliant on
just you know, ships turning up and when they don't
and the jet fuel. We've had problems with being contaminating
and all that sort of stuff, and we don't have
enough reserves. So they want now the diesel importers to
have at least twenty eight days because if something goes wrong,
we're stuffed.

Speaker 1 (40:31):
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dot n Z seven twenty three kis starmer. It's fast
becoming a new political hero of mine. For a bloke
who stumbled into offers not on as brilliant or a

(41:46):
nationwide passion for the Labour Party, but more because the
Tories had spent fourteen years slowly missing the place up.
It turns out to be quite the operator. He's reforming
the public health because it's fat and useless. He's trimming
welfare because there are too many layabouts. He's handled Trump
as well as anyone and better the most, both on
tariffs and the war, and now he's rejected that hackneyed
old sop of a patriotic by British campaign. This is

(42:08):
in response to the American moves. Of course Canada hasn't.
They're flat out at the moment hating on America, and
in some senses it's working. Tourism is down as Canadians
go elsewhere, but all the rest of its anecdotal as
they pull American boos off shells and a massive huff.
So the idea was like it was here a number
of times over the years. If you think back to
buy a Ki, we like it currently. I suppose it's
kind of like the wall discussion this morning. Like it currently.

(42:30):
As in Australia, as part of their election campaign, they've
got a big buy Australia campaign thing going. You run
the flag up the pole, you get everyone fizzed up
about their country, their heritage, their ability to make stuff
in whittle and dig and toil and sweat, and the
punt is so enamored with your skills and graft buyers,
the locally made brilliants, and we all lived happily ever after.
There is value, of course in patriotism and pride in

(42:50):
some local stories. But even in Britain where a lot
of stuff was born or invented, the world has moved on,
and Starman knows it. People buy on either quality or price,
sometimes a little bit of both. They don't buy blindly.
They don't want crap, and they won't support their own
for the sake of it. I mean if they did,
team who would never have been invented, this whole terriff
thing will pass free trade and this is what Starmer

(43:11):
gets will survive, if not thrive. Starmer gets it. President
g certainly gets it. Good ideas, you see, don't die
with the arrival of an economic Neanderthal. Good ideas don't die.
They may be paused, or though may be dented, but
they don't die. Landrover thrives because yes it's British, but
it's also because it's good, as do Futenham and Masons
and barber wax jackets. Buying local is isolationism, most of

(43:33):
us worked out out a long time ago. This is
no time to regress cosking. So back in front of
the NASCAR slah indy car are they different cars. Did
he really ask that?

Speaker 20 (43:43):
No, he didn't ask if they were different cars? He
said are they different? Meaning you know, how are they
different to drive? Okay, so it was a stupid question.
It wasn't totally stupid, I think.

Speaker 2 (43:55):
Just moderately stupid. Okay. Anyway, here he is on Apple.

Speaker 8 (43:59):
If you look at Apple, Apple is going to spend
five hundred billion dollars building a plan.

Speaker 3 (44:05):
They wouldn't be doing that.

Speaker 6 (44:06):
I didn't do this.

Speaker 8 (44:06):
They just keep building them in China, and that's unsustainable.
It's not a pleasant thing to do, you know. Interestingly,
Chuck Schumer and Nancy Pelosi, crazy Nancy, they've wanted to
do this for years, but they never had a president
that had the guts to do it because it does
take guts forever.

Speaker 2 (44:25):
So here's where he's right and wrong. Apple are spending money,
but it's for research and AI. They are not spending
money now because he arrived. They were doing it anyway,
These things don't They didn't cook, didn't wake up on
Monday and go, oh, I know, I'll spend half a
billion trillion dollars by it's crap. But what he does
is he says that which is technically true, and then

(44:46):
you're led to believe that somehow that will mean that
iPhones are made in America, which is not true, and
Lutnik's an idiot, and there aren't millions of Americans waiting
around with tiny little screwdrivers to put tiny little screws
and iPhones. So yes, like so many multinationals, people are
spending money in America. But then again they always have.
And as every expert in the field is said, what

(45:07):
free trade has done for America is exponential. America has
boomed because of free trade. The middle class have excelled
because of free trade. And part of the free trade
equation is not making six and a half thousand dollars
iPhones in Idaho because it doesn't work. It's not real.
Having to deal with all of this is, of course

(45:29):
our finance minister. Who's next.

Speaker 1 (45:33):
New Zealand's voice of reason is Mike the Mic asking
breakfast with a Vita, Retirement Communities, Life Your Way News
togs head been.

Speaker 2 (45:43):
Twenty three minutes away from a let's return to the
world of uncertainty. We're currently swimming in the ocagat to
twenty five point trim. Of course, the headliners we wander
into uncharted, Terri tri So, is there another twenty five
next month or fifty? Where's neutral? All that sort of
thing navigating this for us all in a census. Finance
Minister Nichola Willis, who is with its a very good morning.

Speaker 7 (46:01):
Good morning, Marie.

Speaker 2 (46:02):
I was watching Trump's speech yesterday to some party faithfully said,
everyone's ringing up kissing his ours? Are we one of
the people kissing is ours? Currently?

Speaker 6 (46:11):
Well?

Speaker 7 (46:11):
Look, our diplomats in Washington have certainly been speaking with
the US counterparts. I suppose in many ways we're fortunate
because our tariff rate is lower than that faced by
some other countries. Of course, we'd prefer it to be zero,
so we'll keep pushing for that.

Speaker 2 (46:25):
When you talk or they talk to the administration, and
given what's happened in the last two or three hours,
do they come back to you with any level of
clarity that makes sense?

Speaker 7 (46:37):
Look, uncertainty is the big thing, because sometimes it's clear
that the administration is making announcements, and then the US
system is also in real time working to understand that
information and convey it accurately to officials on the ground.
So this is a situation where we need to keep
the phones working. People need to be continuing to seek

(46:59):
out and nation monitoring developments very closely.

Speaker 2 (47:02):
How come Charmers felt the need to Australia call an
emergency meeting yesterday that involved the Treasury in the RB
and you felt the need to present an a four
piece of paper that you read out on Tuesday is
why are you misreading the seriousness of this?

Speaker 6 (47:17):
Well?

Speaker 7 (47:18):
I won't speak for Charmers. I did speak to the
temporary Reserve Bank Governor yesterday and we shared our observations
of what's happening with the global economy. That's completely appropriate.
I'm continuing to be briefed regularly by Treasury. This is
a significant global economic event and as the Finance Minister
I need to keep on top of what's happening implications

(47:40):
for New Zealand our responses required. Are we doing the
right thing? And so far very much our view as
we should stay the course with the approach that we
have been taking to our economy, a sensible fiscal strategy,
strong economic management, continuing to make reforms which support economic growth,
business certainty and investment.

Speaker 2 (48:00):
How do you have certainty in a world this morning
where we're at one hundred and twenty five in counting
with China, China being our biggest trading partner.

Speaker 7 (48:08):
Well, we cannot control what happens elsewhere in the world.
What we can control is what we do here at home.
And that's why there's even more of a premium on
macroeconomic stability and sensible policies. You know, I've watched labor
have already hit the alarm, the panic button, saying, look,
this is the time to surge the borrowing, surge the debt,

(48:30):
and of course in turn surge the tax. Well, that
would be completely the wrong approach, that would alarm markets,
that would create more instability. This is a time to
be steady and have a tarme hand on the tiller.

Speaker 2 (48:41):
The EU overnight retaliatory. I don't know what happens post
the pause, but do you worry that it's all on
among hundreds of millions of consumers all over the world
in the trade wark.

Speaker 7 (48:52):
I do not like seeing retaliatory action and tips attacked,
because that sort of escalation harms everyone. What we would like,
of course, is stability and calm so our exporters can
work out they can get the best prices for their products.
And when the tariff situation is changing as regularly as
it is, it's very difficult for our exporters to work

(49:14):
out what's best for their business, and that uncertainty in
and of itself can be quite paralyzing. So of course
we would like to see calm in the global situation
and an end to retaliate reactions, given.

Speaker 2 (49:25):
Our success so far or lately in America wine red
meat in particular, as somebody like hawksby able to give
you any sort of specific number around the hit to
your bottom line, not at.

Speaker 7 (49:40):
The stage, because the hit to our bottom line will
be affected, most ironically, not by the ten percent tariffs,
but by the impact of a slow down in global growth.
And just how dramatic that slowdown is is yet to
be seen and depends a bit on whether Trump is
going to be pausing tariffs for longer, what the retaliate
reaction is. What we do know is we're expecting lower

(50:02):
growth among our trading partners, particularly here in the Asian region.
We're forecasting they will grow by at least half a
percent less than we had thought. We are looking as
inflation effects that are still unpredictable, so all of that
gets factored into our forecasts and it's just too soon
to tell. I know that it's not a satisfying answer,
but you'll find that that's the response economists throughout this.

Speaker 2 (50:24):
I mean, no one knows. I mean no one blames
you for this, because literally no one knows. Is it
fair to suggest you needed this like a hole in
the head?

Speaker 17 (50:31):
Ah?

Speaker 7 (50:31):
Look, New Zealand was gathering momentum in our economic recovery.
We were turning a corner strongly, and now we are
facing into a real headwind. However, we remain much better
positioned than many many countries throughout the world. I back
our exporters. They are wily. We're helping them access markets.
If anyone in the world can do okay out of this,

(50:53):
it's New Zealand.

Speaker 2 (50:54):
Okay, I know you're not going to help me out much,
but help me out a little bit. Given what you've
just told us, and the budget coming next month, where's
the nine billion dollars for guns and weapons and drones
coming from?

Speaker 7 (51:07):
That is coming from a combination of the capital allowances
and operating allowances that the government has set aside for
future budgets.

Speaker 17 (51:14):
We won't deliver all of that funding in one budget.

Speaker 7 (51:18):
We will deliver it over successive budgets. And what you
will remember is it's not just about the new money
we've set aside and allowances, it's our ability to reprioritize.
In last year's budget, we found twenty three billion dollars
worth of savings that we directed to better use elsewhere,
including tax relief and investments and education and health. So

(51:38):
where you will combine our operating allowances with our ongoing
reprioritization program and that will support investment not only in defense,
but of course the additional funding that the health system,
the education system need, the other pressing priorities for government.

Speaker 2 (51:52):
So no new borrowing.

Speaker 14 (51:55):
Well to a longer allot tell you why.

Speaker 7 (52:00):
There's a pause mic because right now the country is
in deficit, so by definition we are borrowing.

Speaker 2 (52:05):
Well of course that I am only new borrowing.

Speaker 7 (52:09):
No, No, We're going to stick to the allowances that
we have seeings operating allowance and the indications that we've
made there. I see those as a ceiling. I don't
want to exceed those. I'm very conscious of New Zealand's
our net debt position, which has climbed dramatically at more
than doubled under labor when up one hundred billion dollars
don't have very much to show for that, and so

(52:30):
we need to be prudent and careful so that New
Zealand is well placed. When global storms such as the
one happening right now come along.

Speaker 2 (52:38):
Does it push out our return to surplus annually?

Speaker 7 (52:42):
No, because, as I say, we're sticking to our fiscal strategy.
The thing that we have decided to do a stick
to our intention, which is to manage to hold in
such a way that we get back to surplus in
twenty seven twenty eight. Of course, I don't control the forecasts.
Will world events have an impact on that track.

Speaker 2 (53:00):
Appreciate your time as always a finance minister, Nikoloulis. I
think we've got a good insight there.

Speaker 1 (53:04):
Sixteen to eight the Mike Hosking Breakfast Full Show podcast
on iHeartRadio powered by News Talks.

Speaker 2 (53:11):
It'd be thirteen. A wife from Mate the blog who's
as dumb as a sack of bricks, has been on
Fox Business.

Speaker 21 (53:19):
This is one of the greatest days in American economic
history we have had. I think we're going to call
it the Art of the Reciprocal Trade Deal. And I'll
tell you all the nervous. Now he's on Wall Street
who try to undermine us, consistently underestimate the power of
the president to negotiate Dow fifty thousand.

Speaker 2 (53:41):
Dalosk dow fifty thousand. It's not at fifty thousand. What
he's suggesting is will go through fifty thousand. I was
watching a couple of interviews yesterday. There's a big crypto
thing in Paris. At the moment they wricking crypto is
going to be two hundred thousand by the end of
the year. So a lot of interesting views out there
are speaking of interesting views, Miss tem Paul, question for
you this morning, who's the bigger weirdo? TAMOTHA Paul or

(54:05):
mister Doyle who turned up yesterday? And I'm not sure
what he did yesterday certainly didn'thance his reputation. I can
tell you that for nothing. Anyway, Tamoth has decided to
I mean this comes out of Hipkins, of course, who
picked up the phone to Marrama after calling Tamoth a
stupid and her ideas about defunding the police stupid. Anyway,
they sorted it all out, Everything's okay. But then then

(54:26):
then Tamith tad Tamotha goes on the podcast.

Speaker 24 (54:29):
The thing with law and order in Labor is that
my expectations and was were already low. Like when I
became an MP. They we were just wrapping up the
ram Raid Bill, which they created before the twenty twenty
three election as a last ditch attempt to win Middle
New Zealand votes by punishing our kids. And so it's
not like my expectations of Labour's criminal justice policies was

(54:50):
high in the first place. So I wasn't even surprised
when I read Chippy's comments on I thought, that is
an area that we need to pull them closer to
the evidence.

Speaker 2 (54:59):
It's going to get well in the Labor Party meantime.
And of course Mark, as in the police Minister Mitchell,
he hasn't got a clue either.

Speaker 24 (55:06):
Well, I would be far more intelligent than Mark Mature.
I mean, the guy doesn't even know what systemic bias
is and he never has anything intelligent to say. The
police do really a world class job, Like that's all
he says every time.

Speaker 2 (55:20):
How would she be different?

Speaker 25 (55:21):
Then?

Speaker 24 (55:22):
I think it's that space that lies within that discretion
is where you're getting all of the bad outcomes. Because
you're leaving it to like regular people to make judgments
about other human beings that I don't think they're capable
of making. And that is why you see an overrepresentation
of some people with the police and others not.

Speaker 2 (55:40):
I wonder if they showed her the poll that came
out yesterday that said she's talking completely out of crap
anyway as regards people feeling safe with the police. But
does she see the billboards.

Speaker 24 (55:50):
I don't think they understand how these kinds of things backfire.

Speaker 6 (55:53):
But for me, I was like mean free promo shot.

Speaker 2 (55:59):
So I once again ask you the question, mister Doyle
or Miss Paul. Ten minutes away from.

Speaker 1 (56:05):
It, the Mic Hosking Breakfast with Vida Retirement Communities News
togs had been.

Speaker 2 (56:10):
The seven away from We lost John Mayhew yesterday. Sadly,
Doc was a familiar voice, of course on this station.
He was a long serving All Blacks doc to spent
time with North Harbor, the Blues and the Warriors. The
All Black stint was between eighty eight and two thousand
and four, which encompassed most of Sean Fitzpatrick's career. He
was there for one hundred and thirty one test more
than two hundred matches than Shawn's with us Morning Mate,
Morning Mike, sixty nine to seventy. It's not right, is it.

Speaker 26 (56:35):
No, it's a very very sad day. I'll wake up
this morning and had a number of messages on my
phone about per Old John And to be honest, it
sort of brought a smile from my face because he
has such a such a big presence in my life.
He was my doctor for almost over forty years. I
was there for nearly all my all black career. Just

(56:59):
a very very special in his isleander.

Speaker 2 (57:01):
And a lovely blo. I mean it's one thing to
be the all blacks doctor, but a nice guy with it.

Speaker 26 (57:08):
Yeah, a lovely man, a confidante, very calm, managed to
bring humor two very tense situations. But yes, other said,
just the most wonderful human being and sadly missed this
far too young to go.

Speaker 2 (57:25):
What was his role on the field, because I assume
at that level he sprays on more than just water.

Speaker 26 (57:32):
Yes, well, he put a lot of stitches in my body,
that's for sure, over the years. But yes, I said,
just that calming influence. Had had a real feel for
the game. And you think back to those early sort
of days in his career in the sort of mid
eighties tour to Australian eighty eight. It was him and
him and Abbo with the two medical persons and then

(57:55):
we had a manager and that was it basically. So
he was very much part of part of the team
on and off the field.

Speaker 2 (58:03):
He was very open about the heart condition too, wasn't
I remember when he had had an attack he sort
of went public with it and encourage people to get
checked and look after your health and all that sort
of stuff which is invaluable.

Speaker 17 (58:15):
Yeah, very much.

Speaker 27 (58:16):
So he was.

Speaker 26 (58:16):
You know, he was a very very fit man and
it was such surprise when he when he had that
heart attack a couple of years ago. But you know,
obviously our thoughts very much for this family and with
Sue and the kids, and you know, as I said,
it was just a very sad time to wake up
this morning. But you know, the underlying feeling of Doc May,

(58:39):
who was the lovely, lovely memories and such a such
a confidante to so many people.

Speaker 2 (58:46):
Said, Sean loves to catch up. Appreciate it very much.
Sean Fitzpatrick, who was I think he's with us out
of France this morning, four minutes away from eight pasking
is this a sign of the times or can we
sort of realistically never expect them to come again. Garga
yesterday announced the tour of Australia, the Mayhem Tour. She
hasn't been there for about a decade, which means she

(59:07):
hasn't been here for about a decade. I went saw
her last time she was here. She was phenomenal as
far as the show's concerned. She was at Sparkle Victor
or whatever they were calling it at the time. The
place was packed and that was great. But she is
at Coachella this weekend. She's got big stadium shows in Mexico, Singapore,
there's got the Coca Cabana Beach, the Freebie, so that'll
go off. That'll be amazing. But she's coming to Brisbane, Sydney, Melbourne.

(59:30):
But it's stadiums, and we do stadium so I was
sort of hoping yesterday that because they get dubtailed when
they announce Australia, they announced New Zealand but nothing on
New Zealand, which means it's a tea swizzer. As far
as I can work out, you're gonna have to book
your tickets. You're gonna have to go grab a seat.

Speaker 3 (59:49):
You see how you go with that.

Speaker 2 (59:51):
Let's talk F one. Peter Windsay is back with us
from Spain. After the news.

Speaker 1 (59:56):
Make cos game will been safeful, engaging and vital the
mic asking breakfast with the range Rover Villa designed to
intrigue and use togs dead b.

Speaker 2 (01:00:10):
It is seven past eight. The good news from the
F one is we're in the middle of a three
header Japan last weekend. Of course, this weekend we're heading
to bah Rain before we head to Sardi next weekend.
The thinking is that gives Liam Lawson in time to
adjust to the new car, as well as dealing with
the tracks he knows. Of course, we promised to get
Peter Winsor back on. He's a former Williams team manager
when they won both the Constructors and the Driver's championships,

(01:00:30):
so he's next wert in the field, knows what he's
talking about. He's with us once again from Spain.

Speaker 25 (01:00:34):
Peter Winter Morning, Good morning to you, Thanks for thanks
for having me on the show. Not at all.

Speaker 2 (01:00:39):
Let's start with our obsession in this part of the world,
the Liam's story. How much of last weekend was him?
How much was the strategy, how much was the car?
Do you think?

Speaker 6 (01:00:49):
I think so it was him? Act. Yeah, the only
yardstick you have is your teammate.

Speaker 25 (01:00:55):
In Formula One, there's two cars in every team, they're
both basically identical, and.

Speaker 6 (01:01:01):
You've got to judge what you're doing alongside the guy
you don't want to be beaten by. Is your teammate.

Speaker 25 (01:01:06):
Bottom line, And although Liam could take a little bit
of satisfaction I think from out qualifying Yuki Sonoda, who
was in the A team, that they are different cars,
as Liam well knows, and his only yardstick was is
Zak Haja in the in the B team and Isak
and sadly looked a lot better than Liam all weekend.

Speaker 2 (01:01:27):
Can we cut Liam some slack, given he's reacquainting himself
with the Karen I look at somebody like Carlos, for example,
who's still struggling with was Williams, and maybe give him
a couple of more weekends before we make that direct
comparison or not.

Speaker 25 (01:01:41):
I think I think you can say that goes on,
Liam will drive better and better and we'll see a
lot of the old Liam that we saw last year.

Speaker 6 (01:01:52):
Whether or not that Liam is now going to be
good enough to beat his teammate is.

Speaker 25 (01:01:56):
Zak Haja, who's a driver of enormous talent quite clearly
is another matter. So there's a two different answers really,
and I think you have to take into account that
Suzuka is a driver's circuit. It's a circuit where a
driver can impart more into the car than he can
for example, at Bahrain where we're racing this weekend, and

(01:02:18):
on that circuit as a rookie, is a agile was
unbelievably good and that's something Liam needs to be really
focused on.

Speaker 2 (01:02:26):
Let me come back to that. In the moment Helmet
Marco suggested that Liam needs to score some points this
weekend and next. Is that fair or is that the
old red bull pressure?

Speaker 6 (01:02:35):
Well, it's fair, but it's kind of stating the obvious,
isn't it.

Speaker 25 (01:02:38):
I think Liam, like the racing driver, it goes into
every Grand Prix knowing that they've got the score points
and wanted to score points. So there's nothing new there,
and all Marco is doing is just stating the obvious
that you know, it would make sense if Liam had said, actually,
I don't think I want to score any points in
Bahrain or Saudi Arabia. I'm not going to go for
the points at all. I mean, then you could possibly

(01:02:59):
say Home Market's comment makes sense, but Liam is not
saying that any more than anybody else would ever say that.
So I don't really understand what it's all about. Obviously,
Liam's giving it one hundred percent every weekend, doing.

Speaker 6 (01:03:09):
The best he can.

Speaker 25 (01:03:11):
But I would say it's very lost at the moment
because you know, the season started badly with the A
team and now with this young.

Speaker 6 (01:03:18):
Rookie alongside him, he's getting blown away and that's a
big problem.

Speaker 2 (01:03:21):
You're speaking so well of Heger Hedger, I wonder if
he's flying slightly under the radar, because if you want
to talk about talented rookies, Antonelli seems to be getting
all the headlines.

Speaker 25 (01:03:30):
Well incorrectly so because Antonelli is in a factory Mercedes
and you know he should be doing that.

Speaker 6 (01:03:35):
Well, it's a very good car.

Speaker 25 (01:03:37):
But if you look at where the other other B team,
you know, the racing bulls is, where is it.

Speaker 6 (01:03:43):
It's in the hands of Liam Lawson and look what
is zak Haja is doing with it?

Speaker 25 (01:03:46):
That is Zac Hadjo's performance actually was much more meritorious
than Kimi Antonelli's in opinion in Japan for sure. And
obviously the Mercedes is a better car, It's a better team,
huge budget, huge operation. This is the Bee Red team.
You know, Red Bull be team. So you know you've
got to be nothing but impressed with isak Haja. He

(01:04:09):
was a great driver to walks. And it's not only
the results, it's the way he drives. I mean the
way he he was showing up a lot of very
very experienced, very very good racing drivers. I've been looking
at a picture today of him when he was leading
Lewis Hamilton at one point, and he's got his car
in such a nice position compared with Lewis going up

(01:04:30):
through the s and that sort of detail you would
not expect of a rookie, to be honest, and that's
another problem for Lin.

Speaker 6 (01:04:37):
Now, this guy is really good.

Speaker 2 (01:04:38):
Is he so good that of Sonoda? Isn't he's the
third player for Red Bull this season? Or is that
just too crazy?

Speaker 14 (01:04:45):
Oh?

Speaker 25 (01:04:45):
I think Red Bull would already be thinking, Wow, we've
got somebody very special here and great that he's going
to do a year now in the B team, But
we need to be thinking about him for the O
team next year.

Speaker 6 (01:04:56):
Yeah, I'm sure already they'll be thinking that.

Speaker 2 (01:04:59):
I tell you what exciting to tell me if I'm wrong.
But the season so far is brilliant. This is this
McLaren thing we saw in Japan and presumably it's going
to be a talking point in bar Rain this weekend
as well. These Papaya rules and what you do with
pstre and who's got bit of pace? And do you
chase down the step? And was that a mistake? Did
they blow that?

Speaker 25 (01:05:15):
In my opinion they did because I think there's a
lot of downside in running two very quick drivers in
a team because it detracts from one driver. If you've
got a Lando Norris, you don't really need somebody as
good as Oscar in the other car, and vice versa.
You put somebody's a little bit easier to handle, Somebody
like say Daniel Ricardo with a bit was a perfect
teammate to Lando. But they went this route of having

(01:05:38):
somebody very very quick with the other car, and there
are a lot of downsides and he took points from
Lando last year for sure.

Speaker 6 (01:05:47):
The upside is that in a situation they were in Japan.

Speaker 25 (01:05:50):
There was a perfect situation there for McLaren to say
to Lando, Okay, let Oscar pass.

Speaker 6 (01:05:57):
We're going to give in twenty.

Speaker 25 (01:05:58):
Laps to wear down Max, and we'll tell him to
let you get in front again towards the ender race.
You can win the race, but he's going to He's
got more in his crrent moment. He can push Max
a bit harder or get Max to use up his
tires and then New Lando can win the race. That
would have been a really clever strategy and they could
easily have.

Speaker 6 (01:06:17):
Done that, but they didn't.

Speaker 25 (01:06:19):
They just let them both sit there and they were
like sort of rabbit called in the headlight, didn't know
what to do, and they were just both going around.

Speaker 6 (01:06:26):
You know. Obviously Oscar wanted to get to up the pace.

Speaker 25 (01:06:30):
Lando was sort of mesmerized into thinking that Max might
make some sort of mistake or something. I didn't want
to get too close to him because it's dirty air
and it damages the front tires, et cetera, and the
front wing, and so they went round and round and round,
and it was it was a lost opportunity for McLaren.

Speaker 6 (01:06:45):
Yet again, if you're going to have two quick guys, use.

Speaker 2 (01:06:47):
Them, it makes sense. Listen, hollow make will come back
in a moment. Peter Winsor, former William's team manager, with
us out of Spain this morning thirteen past the Mic.

Speaker 1 (01:06:55):
Asking Breakfast Full Show podcast on iHeartRadio coward by Newstalk.

Speaker 2 (01:07:00):
Zippy News Talk zibby sixteen past a former Williamsley manager
Peter Windsor is with us on excuse me this weekends
by Rain. Listen, tell me a bit, a bit different?
What's different this weekend? Right in terms of the track,
because a lot of people here contact the program, a
lot of new if one fans in the country were
all fizzed about Lie and were all on board. But
they said last week in Suzuka was boring. Might be

(01:07:21):
a great track, but what a boring race? What a precision?
What's different this weekend?

Speaker 25 (01:07:25):
Well, first of all, I would say it was it
was a crawling race because although there were very few overtakes,
it was NonStop tension and defense and attack.

Speaker 6 (01:07:32):
It was a wonderful race.

Speaker 25 (01:07:33):
So that's the first thing to realize about the Japanese
Japanese Grand Prix bah Rain easier to overtake. There'll be
a lot more overtaking. People will probably say it's more
exciting in that sense. It's a bit banal, bit sort
of you know, in your face, not really a finesse
as a circuit. There's one really nice section of road
turn nine, turn ten. The rest of it's fairly basic

(01:07:57):
and even an averagely good racing driver will be pretty
quick around there, so you'll see the grid very close,
very competitive. Liam would be very near is Zach Hadja there.
I suspect he might even be quicker than Haja are there.
It's not a circuit where it's particularly demanding in any
area apart from turns nine and ten, and they really
only come into play during the race when the tiers

(01:08:18):
are going away. Then that corner becomes a great corner.
But in terms of qualifying, it'll be defined by the
performance of the cars, which cars have got the most
efficient downforce, and you'll see them pairing up on the grid,
the two you know, the two racing balls, probably the
two McLaren's, the two Merks, the two Ferraris.

Speaker 6 (01:08:36):
They'll be very near one another. There's not a lot
drivers can do that. It's not a driver's circuit really,
apart from that nine to ten section.

Speaker 2 (01:08:42):
Have you got a sense of the season yet, Peter,
drivers versus Constructors any clue or are we still guessing?

Speaker 25 (01:08:49):
Oh?

Speaker 6 (01:08:50):
I think the season?

Speaker 25 (01:08:51):
So the season is McLaren for sure have the best
package that probably will have the best package all year.
There will be racist when they get it wrong, but
it's going to be their championship to lose.

Speaker 6 (01:09:02):
Certainly they're going to win the constructors championship. I'd say.

Speaker 25 (01:09:05):
The only thing, of course, is that Max is just
a much better, not much better, but a better racing
driver than both Lando and Oscar, And a good racing
driver in an average car probably.

Speaker 6 (01:09:15):
About thirty percent time in the season can do something.

Speaker 25 (01:09:18):
You know, when it's wet, or it's a circuit like Suzuka,
or there's a lot of wind, or something else comes
into play, then a guy like Max can do what
he can do. But in terms of a straight fight,
McClaren by far and away have the best car at
the moment, the best package, and it's difficult to see
that changing as the season progresses.

Speaker 2 (01:09:37):
You've been around a long time and hung out with
a lot of really really good drivers. Where do you
put the stepping and the grand scheme of things.

Speaker 6 (01:09:44):
Well, I put him right up there with the very best.

Speaker 25 (01:09:47):
I think that the era in which he races I
call it the two pedal era. It's the era in
which we no longer have a manual gear shift in
the car, the type that Debt and Senna used. We
don't have a clutch pedal. There's just two pedals, accelerator
and a break. Michael Schumacher was in the middle of
the transition to that era, but Max has only known
that era.

Speaker 6 (01:10:06):
He's probably never changed gear with a clutch in his life.
I wouldn't have thought so in that two Feddle era,
I would say he is the best driver now for sure.

Speaker 25 (01:10:14):
I think Lewis has kind of lost the plot at
the moment in terms of where he's going with the
car and how to drive the car.

Speaker 6 (01:10:21):
And Charlotte Clerk's not far away from Max.

Speaker 25 (01:10:24):
I thought he drove beautifully at the weekend sensational drive by,
but Clerk, but he's a bit more emotional.

Speaker 6 (01:10:30):
He's a bit more you know, he's grown up with
the whole Ferrari thing.

Speaker 25 (01:10:34):
He's French, you know, he's very prone to all the
histrionics and the emotion that comes with that. Whereas Max
has had like this copybook career where he's just gone
into this beautiful team Red Bull, which is a great
race team, and he's Dutch, and he's calm, and he's
very simple in the way he goes racing. He doesn't
overcomplicate it, he doesn't let the data dominate the way
he thinks. He thinks like a racing driver, racing in italics,

(01:10:57):
as I think from a professional Formula one drive. And
I think most of the young guys out there aspire
these days to be professional Formula one drivers. And that's
that's the mistake they made. Too much dated, too much information,
not enough gut feel.

Speaker 2 (01:11:09):
Exactly, Peter, always a pleasure, appreciate it. We'll get you
back on again. Peter Windsor a former Williams team manager
out of Spain. This morning. By the way, he does
a very good podcast called Short Corners. It's a highly
detailed you can be down a rabbit hole there the
minutia and F one's for the lovers of F one.
So he's got that Short Corners. He's got a YouTube

(01:11:30):
channel called Peter Windsor as well. Surely, Mike, we want
passing in a Grand Prix, not a procession. Yeah, it
was interesting. He said that it's like it I liken
it to five day cricket. You know, the people who
are passionate about five day cricket get it, whereas those
of us who don't get it look on and go, well,
what the hell he's spending five days for? And a
lot of the drivers in fact post Japan said what

(01:11:50):
a procession, How boring it was. But for the officionado,
the subtlety and nuance, pet strategy, tires, et cetera. What
was going on in Japan was interesting, but for the
wider world not so much. Good to have them on
the program.

Speaker 3 (01:12:01):
Make twenty one the Mic Hosking Breakfast with the Range
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(01:12:51):
It's all easy to take, it's all wonderful. I read
the label take only as directed it of course, but
the number, as always is eight hundred triple nine three
are nine. Eight hundred triple nine three are nine. Online
all the details at about health dot co dot nz.
You order your Lester's Probiotic Plus use the code breakfast,
and that's critically important because you're going to get free
thirty capsule bottle of the Olid Resists. This is what

(01:13:11):
you need at this time of year, the Olid Resist
High Strength Immune Support formula. So you got all the
good products going on there, but the one to remember
is the Lester's Oil Probiotic Plus. It is only from
about Health asking twenty five just before we leave Sport
Taupo this weekend. Of course, I was thinking about Taupou
last night. So the cars leave, the supercars, the cars

(01:13:35):
leave where their bases, their bases depending on where they
were last time. They're at Melbourne last time because they're
part of the F one so that was several weeks ago.
They leave, they would be on a ship and transported
to where tower on Auckland where would they land, and
then from where they land to get from that port
to Taupo, they're trucked. I'm assuming it's quite the logistic exercise.

(01:13:59):
But anyway, I'm reading yesterday and the Herald that it's
all decorated, the community events are organized, the hashtag love
toau post signs received the big spruce up. It's a
it's a huge weekend in the center of the North
Island for the supercars. And that's before I come speaking
of sport to Rugby Australia, who yesterday cut the next deal.
We're sort of standing by for Sky Slash Desione to

(01:14:21):
presumably do some sort of deal with the Rugby Union
for the All Blacks going forward. And that's a story.
The longer this goes, the more interesting it gets. As
far as I can work out, because that was supposed
to be sorted ages ago. But Australia Rugby Australia did
the deal yesterday. Nine's got it and the Super Rugby
implementation is interesting. The amount of money is interesting, and
how much more money is in bold is interesting. So

(01:14:43):
Crunchy throw all these specific details there because I wonder
if we can learn a little bit of something from
Australia's regards Super Rugby. We also, right after the news
have Rod Little and he will get us the latest
from the UK.

Speaker 1 (01:14:54):
News, opinion and everything in between. The Mike Hosking break
best with Bailey. It's three estate, your local experts across residential,
commercial and rural news togs headb.

Speaker 2 (01:15:05):
Yeah, just quickly. So Rugby Australia signed off yesterday. It's
an extra sixty five million dollars. It's a new five
year broadcast deal with nine. As in Channel nine bonus
payments of the Wallabies and Super Rugby sides hit certain
targets games and this is the key. Games will no
longer be shown on free to wear television's Channel nine,
which is a free to air operator. They've got their

(01:15:25):
streaming service stand so they're going to stick it all
on stand two hundred and fifteen million dollars in cash
and free advertising screen all the Wallabies, wallarooes. The super
Rugby fixture is men's and women's competitions, does not include
the twenty seven World Cup. That's a separate deal. The
previous deal was one fifty so it's gone well one
fifty three to two fifteen, so it's been lucrative rugby's

(01:15:46):
and you've got to remember rugby is nothing like rugby
is in New Zealand in terms of importance. The AFL
and the NRL beat at hands down, so there's still
big money in it. But you've got a couple of
things there. One there's more money, so that's presumably good
for or whoever ends up with the deal with Sky
and or Design. But the fact that's gone behind a
paywall is interesting. So there's no prime, there's no whatever

(01:16:09):
they call it from Sky Open or whatever that is
these days. So well, we'll watch the space with interest
in this part of the world. Twenty two minutes away from.

Speaker 18 (01:16:15):
Nine International Correspondence with ends in Eye Insurance, Peace of
mind for New Zealand business and to the UK we
go Rod.

Speaker 2 (01:16:23):
Morning, Good Mom, in tune.

Speaker 6 (01:16:24):
Mate.

Speaker 2 (01:16:25):
We alluded to this the other day and this was
sort of all tied up with the tariffs and the
Shenanigans and the cataclysmic nonsense. It's unfolding literally in front
of our eyes at the moment. But when you've got
a thing like National Steel and the problems they've got,
do you one do you nationalize them? If you do,
at what cost? And three if you've nationalized them, how
many other people do you nationalize?

Speaker 6 (01:16:45):
Well, it's a.

Speaker 27 (01:16:46):
Huge problem for the Labor Party, for the Labor government.
Labor previously hasn't nationalized them. Obviously it's in nineteen forty five.
But since Milgare attaches denationalization privatization probe in the eighties,
there has been no appetite within the labor movement for
renationalizing of companies, even if they do occasionally give a

(01:17:09):
genuflection towards renationalizing the utilities. So here we have a
case where British Steel, which is owned by a Chinese
a company called Yingue, and is going to close down
in its main branch at Scunthorpe, which is on Humber Side,
with the loss of twenty seven hundred jobs. That's kind

(01:17:32):
of the main branch of our steel industry at the moment,
which shows how much it has declined in recent years.
And my suspicion is that in the end the government
may well renationalize it, even though it's a cost which
we can ill afford at the moment. And there is
annoyance obviously at the Chinese company which is running the place,
that says it can't get the raw materials it leads,

(01:17:55):
and also an anger up in the north of England,
you know that Westcott is, which is to the effect
that the government doesn't really care about manufacturing jobs but steel.
You know, we do specialized steel production, different sort of
steel to the stuff we used to make, and I
suspect that the government may be tempted to renationalize for

(01:18:17):
however much that costs. The idea at the moment, Mike,
is that is that it's kind of renationalized, but the
Chinese company continues to operate the plant, which I would
suggest is the worst of both worlds exactly.

Speaker 2 (01:18:31):
So what is actually the problem is that Britain can't
make steel efficiently and properly, or is this just an
individual story of a bed owner who didn't quite do
the job properly.

Speaker 27 (01:18:44):
It's a little bit of both, but it's also ties in.
It's more about cost. What Britain can't do is compete
with the really cheap steel made in India and China.
But we don't try to so much anymore. That's why
all the plants went on Tees side, you know where
I am at the moment that there is no steel

(01:19:05):
making facility left here, and there were originally thirty thousand jobs.
That's all gone. It's now down to specialist manufacturers. The
problem with this company is it's been rather in transitgen
saying it simply can't get the raw materials it needs
to bring into the country to make the steel, which
is a strange it's a strange argument. I haven't got

(01:19:27):
to the bottom of it yet, but I think it's
a kind of combination of the two. Other European countries,
such as Italy particularly, have continually subsidized their steel industry.
We have done no such thing for twenty five years,
you know, largely because we were under EU law that
we couldn't, but the Italians just ignored that. But also

(01:19:49):
because I don't think there was any I don't think
there was any appetite for it in the conservative all
aid administrations.

Speaker 2 (01:19:55):
Yeah exactly, Hey, in middle bend, how many flights do
you need to take as an zero specialist before you're
a hypocrite?

Speaker 27 (01:20:04):
Well, if it's a domestic flight, I would say one.
This is the man who has been telling us, is
the Energy secretary who is an eco zelet committed to
this net zero idiocy and has been telling British people
that they shouldn't take domestic flights. And frankly, as far
as that goes, I see his point. There is basically

(01:20:26):
no reason why you would need to take a flight
anywhere within Britain. Glasgow to London is cheap and efficient
on comparatively cheap and efficient, you know, on a train,
and similarly new Castle to London, et cetera. We now
find out that his own staff, his own department, have
spent forty pounds on domestic flights in six months.

Speaker 6 (01:20:50):
I mean, is it is?

Speaker 27 (01:20:51):
I think it's a resignation issue, you know. I mean,
he simply isn't doing what he's told the country to do.
He's done the precise reverse, and it looks really bad,
and it militates against all of it. It just adds
to this sensation that he kind of lives in a
fantasy land where he promotes an ecological approach to transport

(01:21:19):
and to daily living, but which cannot possibly be done.
You know that's the effect.

Speaker 2 (01:21:25):
It's sad right, always the pleasure. We will catch up
with you next Tuesday. Rod Little out of Britain for
us this morning, seventeen away from nine Pascal my tribute
story about John Mayhew. Back in the eighties. John was
my GP when he took over the medical practice and
Birkenhead that's in Auckland and nineteen ninety three hours pregnant
with my first child. I remember he said if my
baby came on time, he'd be there to deliver. If not,

(01:21:46):
he'd have to head off to the All Blacks tour.
My daughter arrived exactly on a due date, and John,
as promised, was there for the delivery and came to
see me every day in hospital until he flew out
with the ABS a few days later. I was one
of his last obstetric's patients and after that Dups then
stopped doing maternity work. We still stayed friends throughout the
years due to our love of sport and family connections.
He will be so so missed a really special man.

(01:22:08):
It's very nice and thank you for that sixteen too.

Speaker 1 (01:22:12):
The Mike Asking Breakfast Full Show podcast on iHeartRadio powered
by News Talks at b.

Speaker 2 (01:22:19):
OH Mike, I'm and Liam fan desperately hope he does well.
But I worried that all the pressure and negative press
that made him lose his edge, the edge that lets
you push to the point of failure because he knows
that he may be one failure away from his f
one dream ending. Well, that's sport, isn't it really, At
the end of the day, that's that's at the elite end,
the point the end of anything in life. A lot
of it's about confidence. And you know, he hasn't spent

(01:22:40):
I would argue he hasn't spent his entire life giving
this particular point to blow it. So we obviously wish
him all the very best. But a couple of races
this weekend and next, and then there's a gap, and
I think there is Miami. Then you go to Italy
Ministry of Transport. So on Monday you raised the question
when we gave you the casaation flight times here in

(01:23:01):
New Zealand Jets Day, you said, but what about the
turbo props, what about regional New Zealand. Very good point,
we said. So we went straight to the Ministry of
Transport and said, flick us the details on the cancelations
for the turbo props in the regional areas. No problem.
They said, well, they didn't actually say that at all,
said nothing of the sort. They said, yep, we'll come
back to you. Of course they didn't, because that's what
government departments do. Just on Tuesday, we told you just

(01:23:23):
at the end of the show on Tuesday nine o'clock.
On Tuesday, just before nine o'clock, they said they were
quote unquote working on a response. Now that response never
turned up. So by Tuesday afternoon we went back and said,
can we get something before five o'clock quote unquote. We
are currently in discussions with the number of airlines and
are planning to provide regional reporting shortly. That was Tuesday.

(01:23:47):
Four minutes later we went back and said what shortly?
Never heard back radio silence all day yesterday. Nothing mind
you did we go to them? We did go to them,
and they still said nothing. So we went by them again,
still said nothing. Still no response, Still nothing going on.
So here we are Thursday, we've got all thursdays still
to go. Of course they'll be they'll be catching the

(01:24:08):
what the eight thirty seven and from Kendala to the office.
I'll be touching base at about ten past nine, saying
good morning to everybody unpacking their briefcase, wandering straight to
the cafeteria, make a coffee of tea something like that.
Maybe come back to us after ten o'clock or something
like that. Anyway, so it's four days and we still
have no answer. The suggestion is from people who may
know that they might be running into some trouble with

(01:24:29):
their New Zealand. Now my question around in New Zealand
and New Zealand, it was suggested to us originally don't
like this information released because the information isn't particularly glowing
for Air New Zealand, because the real problem with the
rivals and departures is to be found on the regional
routes of this country, not the main trunk routes so
a New Zealand might be. But my argument or question
at least would be, is this not public information and

(01:24:51):
is not what the Ministry of Transport holds nothing really
to do with Air New Zealand other than they happen
to be the party they're monitoring, and you can't then,
as in news Land, go to the Ministry of Transport
and heavy them and tell them not to release stuff
because it's not actually your information to control in any way,
shape or form. But anyway, I said here, not as
hopeful as Thursday morning as it was perhaps on Monday,

(01:25:12):
that we will see this.

Speaker 20 (01:25:14):
Do you think you think it helps or Henders talking
about this whole process?

Speaker 25 (01:25:19):
Oh?

Speaker 2 (01:25:19):
I think well it's a good question, Glynn Philly late
in the program for a good question, but well, welcome
to the party.

Speaker 6 (01:25:26):
I've been busy.

Speaker 2 (01:25:27):
Yeah, so I'm thinking it's it helps me because this
is interesting, and it doesn't help in New Zealand because
the longer this goes, the worst it looks.

Speaker 20 (01:25:36):
Unless they've heard us in God, oh quick, we better
go out and do some regional flights that are all
work perfectly, and then they'll be able to sway the
percentages their way. I mean, assuming that they are bad,
which we don't know.

Speaker 2 (01:25:50):
I think we do. Nine minutes away from nine the Mike.

Speaker 3 (01:25:53):
Hosking Breakfast with Bailey's Real Estate news Dogs.

Speaker 2 (01:25:57):
Mike, I know you're bloody busy, but I just got
to tick for not indicating while going straight through a roundabout?
Since when has that been a rule? That's been a rule?
Funnily enough, it's a good question. Actually it's been a
rule forever. Not that anybody I've ever heard one adheres
to it or be enforces it. But clearly you're the
unlucky punter now. Global volatility, ah ah, ocr announcements, economic uncertainty.

(01:26:22):
Very tough environment these days, of course, So let's be honest.
Knowing your next move not always straightforward. So you need
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(01:26:45):
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(01:27:06):
New Zealand owned and operated investment firm and a licensed
financial advice provider. Posking a bit of I haven't got
the numbers for New Zealand, but in Australia I'm reading
this morning. Cadbury's prices are up twenty percent as an
Easter turn fifty gram easter bunny twelve bucks this year,
up from ten one fifty gram bunny medium gift boxes

(01:27:27):
small bags of eggs up anywhere between nineteen and twenty
one percent. We got shrink flation. It's been amplified. Some
chocolate's undergone thirty three percent price rise increases pack of
twenty two hollow Cadbury Easter eggs eight percent smaller but
twenty percent more expensive. Eight percent smaller, twenty percent more expensive.
Easter is a rip.

Speaker 20 (01:27:47):
I wouldn't bother if I was you, I'd just give Jewelry.

Speaker 2 (01:27:50):
Great idea Glenn well done, or a Ferrari five minutes
away from nine.

Speaker 3 (01:27:56):
Trending Now Chemist ware House the Home of Big Breast.

Speaker 2 (01:28:00):
They are still the cast of White Light is huge,
numbers fifteen million each episode they reckoned, according to HBO
stats this morning. Also Nielsen, they're on track to have
about eighteen million viewers per episode, so it's a global hit. Anyway.
They're all out still on the talk shows talking about
life and times, and one of the fun things they've
been doing is to give the best impression of Victoria Recliffe.

(01:28:21):
She's Parker Posey's character. She's on the pills and loves
the booze.

Speaker 3 (01:28:26):
Piper. No, no, there's sex calleds piper.

Speaker 6 (01:28:37):
All arousal pound, lorausal pound.

Speaker 2 (01:28:40):
What am I supposed to be impressed?

Speaker 7 (01:28:43):
Yes, a little rials of pound, so real, it's like
a fat little tongue in there, like.

Speaker 2 (01:28:48):
The lorousa Bodhism, Buddhism of Buddhism.

Speaker 3 (01:28:56):
Soon, Lomi Paper, is you not a Buddhist?

Speaker 2 (01:29:03):
That last one was good. That was very good.

Speaker 20 (01:29:05):
She was one of my favorite characters. In fact, only
had two favorite characters here and Walter Goggins. I liked
the fact that it was about halfway through the season
where she gave the impression that she thought she was
on Taiwan.

Speaker 2 (01:29:17):
The whole time, that wastful, some very funny lines. Her
accident by the way, that what that bood is and
she intvented that she's quite clever and like everything else
or everyone else in the cast, they seem to have
been had their life turned upside down and changed and
think it's the greatest thing because they weren't paid that
much per episode, because I think they paid twenty thirty

(01:29:38):
thousand dollars an episode, depending on whether they were in
the episode, which for that sort of television is not
a great deal of money. But the experience was life
changing as indeed, as this program been back tomorrow, Happy Days.

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

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