Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, deliver
In yet another sign that the people that are supposed to know what they are doing, don't, the Funding for Lending programme came to an end yesterday. It was cheap money from the Reserve Bank to the retail banks to get cash out into the economy. And in another of those "whoops, with the benefit of hindsight we would have done it differently" comments, they now say that they should have put more flexibility into the programme. Why? Because the need for banks to access discounted money has long been over, and we are now in the middle of an inflation crisis because of cheap money, lavish spending and no labour and closed borders. In other words - whatever it is you do, do it for the period it needs to be done and no longer. So why did it go longer than needed? Because, 1) The Reserve Bank didn't put any flexibility in. And, 2) Once they realised that, they argued it is better to keep to your word if you said you would do something. It reminds me of the wage subsidy programme by the Government. They swore black and blue that all that mattered was to get money out there to save jobs. And as a headline, as a broad concept, it wasn't a bad idea. But what about the detail? What about the flexibility? How hard would it have been for the Reserve Bank to say "this is the deal for now but given none of us has a clue how this all unfolds, we retain the right to change things if matters require us to". Honestly, is that hard? Surely someone at some point thought about that? Equally, the Government's wage subsidy - should you in future not actually need the help, should over the next financial year you turn out to be profitable, you will need to pay back some, or all, of the money. Not every business was going to suffer. Some businesses were going to do well. Once again, how hard would it have been to hand the money out with a rider? How many meetings were held where a bit of basic common sense was clearly completely absent? And as a result, how many billions have been funnelled out for no good reason for the next generations to have to try and pay back, because the people with the power and the responsibility never took the job seriously enough? Or if they did, never had the skills to execute it properly?See omnystudio.com/listener for privacy information.
Sport New Zealand have changed the rules for transgender athletes. Trans athletes will now be able to participate in sport in the gender they identify with. The changes will apply only to community level sport. Former professional rower, endurance athlete and co-spokesperson for Save Women's Sport Candice Riley joined Mike Hosking. LISTEN ABOVESee omnystudio.com/listener for privacy information.
National is claiming bias from the Government's transport fund. Councils can apply for a slice of the $350-million dollar Transport Choices Fund, for sustainable projects, such as public transit and cycleways. Opposition Transport Spokesperson Simeon Brown alleges it's mostly going to Councils represented by Labour politicians. He says Auckland's funding will primarily benefit Labour-held electorates. Transport Minister Michael Wood says he's been clear they'll work with local councils, and he's reminded Labour colleagues to engage with communities on funding bids. LISTEN ABOVESee omnystudio.com/listener for privacy information.
Strawberries could be available all year-round. Backed through a government pilot project based in Foxton, strawberries will be grown using a controlled environment growing system. The Government are partnering with 26 Seasons to find cost-effective methods for growing strawberries out of season, costing more than $920,000 over two years. 26 Seasons CEO Grant Leach joined Mike Hosking. LISTEN ABOVE See omnystudio.com/listener for privacy information.
International visitors have been spending up large in New Zealand. The latest International Visitor Survey shows in the three months to the end of September, overseas visitors spent more than $1 billion. The survey shows holidaymakers spent $479 million, while visitors here to see friends or relatives spent nearly $300 million. The regions benefited as well, with the Tourism Electronic Card Transactions spend, higher in eight regions than October 2019 levels pre-Covid. Tourism Minister Stuart Nash says the injection into the economy is likely to increase, as more international visitors travel over summer. LISTEN ABOVE See omnystudio.com/listener for privacy information.
The Office of the Privacy Commissioner is investigating the ransomware attack on information technology company Mercury IT. It's potentially compromising sensitive data for clients including Business NZ, the Nurses Organisation and the Ministry of Justice. AUT computer expert Kenneth Johnson told Mike Hosking data is being compiled throughout the world about the motivation of these attacks, who is doing them and why. He says they hope this provides more information about how these attackers behave, which will aid people in defending against them. LISTEN ABOVESee omnystudio.com/listener for privacy information.
There's no prizes for going harder than we need to on interest rates. KiwiBank says the Reserve Bank is at risk of going too far. The central bank lifted the Official Cash Rate by 75 basis points last month, while Australia's Reserve Bank lifted theirs by 25 basis points yesterday. Kiwibank CEO Steve Jurkovich told Mike Hosking the Reserve Bank should watch and see the impact coming through of the tightening so far. He doesn't see a downside to that as it's an approach being taken by other central banks around the world. Jurkovich doesn't see why we need to be such a dramatic outlier. LISTEN ABOVESee omnystudio.com/listener for privacy information.
I am glad the RNZ/TVNZ merger is getting the noise it deserves. The trouble with mass reform under ideological Governments is certain things attract headlines and a lot of stuff doesn't. The Fair Pay Agreements, I think, deserved more noise than they got, given the chaos they are going to cause around the economy. And the merger is another such matter than was always going to struggle against scandals like Covid and lockdowns and Three Waters and charging farmers for being farmers. But as the spotlight gets shone on the merger ideology it's become increasingly obvious there is actually nothing that drives it. The Prime Minister, who seems to have settled on an approach of literally making it up as she goes, yesterday suggested that if they didn't merge it Radio New Zealand might collapse. That of course is errant nonsense given the Government writes the cheques. But part of her argument was that they had lost audience, which is correct. Their main programme in the morning has lost a lot of audience. I know, because most of its turned up here. And the reason it's turned up here is we aren't boring. But a merger in and of itself won't change that for them. It's a lot like Ardern's claim that if you don't back Three Waters your rates will increase, which isn't true either. Rates increase all over the place, all the time and none of it has to do with water or central Government because it's not their business. She also rolled out that tired old line that we need more trust in the media, which is true. But it's not directly related to a merger, or indeed the Government having anything to do with media. When pressed, what we have learned is there is not a single solid idea behind any of this. Not a single light bulb moment where you go "ah that's why, that makes sense". Along with their mad polytech idea, the centralisation of health, their obsession with Maorifying everything - the merger just seems to be part of a crazed grab bag of ideological thought bubbles they dreamed up in opposition years ago that they would have a crack at next time they turned up in Government. If I was them I would read the poll which has the majority of us against it, and kill it. If they honestly believe a combination of Willie Jackson and Tracey Martin is broadcasting's future, then it's time they handed the place over to some adults.See omnystudio.com/listener for privacy information.
It's the impossible inquiry isn't it? Do we want a Royal Commission into Covid? Of course we do. Are there aspects we found to be wanting, if not completely cocked up? Of course there were. But are they going to look at them in the sort of detail we want or need? Is the Government really going to learn anything? Remember it won't be 'this Government' and in that is the crux of all of this. Would a different Government have handled the same thing differently? Yes they would. How much of what we got out of this pandemic was specific to the Labour Government and its inability to deliver anything, far less a major health response? MIQ is widely seen as being needlessly cruel, the lockdowns, although not unique, were at the extreme end of the spectrum and the vaccine roll out was abysmal. Others would have done it differently. Can a commission ever come up with a blueprint that involves any form of specifics? How do they deal with the dishonesty? In my mind there is not a shadow of a doubt that we were, at times, misled and at other times straight up and down lied to. How does a commission tackle that, if they tackle it at all? The pulpit of truth, the political sermons that went on for 20 minutes before we got a shred of actual detail, are they in the commissions purview? Do we see the paperwork on the Pfizer deal and why it was so slow? Ashley Bloomfield is long gone but does the boss of health play a critical role? Yes they do. So how dependent are we on who that person just happens to be next time a pandemic arrives? In other words, how much of it is luck? How is it possible that the Reserve bank is not included in this? Covid and its fallout goes on, businesses are still falling over to this day, mental health is still an issue, access to health is still an issue and the job market is a mess because of all this. That surely is as much Covid as the case numbers and percentage of people that got jabbed. This looks to me like an exercise, if not in futility, certainly in disappointment. The thing I will remember about the Covid response here was the maniacal and dictatorial approach from a Government that revelled in the fear and power, mixed with their ineptitude. There is not a shadow of a doubt in my mind that we could have done a hell of a lot better, and I don't need a Royal Commission to tell me that. And if you are as bereft of talent as this Government is, no Royal Commission is going to be able to fix that.See omnystudio.com/listener for privacy information.
A new Kiwi startup wants employers to put their parental leave policies on its new register. Crayon is creating a database of verified parental leave policies for parents to easily access. Employees traditionally have to be at the same employer for 12 months or more to be eligible for full parental leave benefits Founder Stephanie Pow says the goal is to create transparency. She says it's not about naming and shaming, but making the information available for everyone to find. LISTEN ABOVESee omnystudio.com/listener for privacy information.
The man tasked with heading the Royal Commission of Inquiry into our Covid response says they'll be doing their best to deliver an independent report. It kicks off February and will look at vaccine mandates, border closures, quarantine and community care - among other matters. A report is due mid-2024. Australian-based epidemiologist Tony Blakely will chair it, alongside former National party minister Hekia Parata and former Treasury secretary John Whitehead. Blakely says he's happy with the terms of reference - particularly the forward looking nature of it. He says their job isn't to find blame about individual past decisions, but project forward. LISTEN ABOVESee omnystudio.com/listener for privacy information.
National is on track to form a coalition government with ACT at next year's election. A 1News Kantar poll shows National's support up one percent to 38 percent - and Act up two points to 11 percent. Meanwhile, Labour has slid a point to 33 percent - while the Green Party is holding steady on nine percent. Act Leader David Seymour says he believes Labour is out of touch with what the public want. He says the Government isn't listening or delivering on what the country needs. LISTEN ABOVESee omnystudio.com/listener for privacy information.
A business leader doubts the Royal Commission of Inquiry into our Covid response has the right scope. It kicks off February and will look at vaccine mandates, border closures, quarantine and community care. A report is due mid-2024. Australian-based epidemiologist Tony Blakely will chair it, alongside former National party minister Hekia Parata and former Treasury secretary John Whitehead. Business NZ Chief Executive Kirk Hope told Mike Hosking no one from business was talked to about the scope. He says the exclusion of operations into the private sector from the scope of inquiry is disappointing. LISTEN ABOVESee omnystudio.com/listener for privacy information.
When James Michael Grimes fell overboard from a Carnival cruise ship in the Gulf of Mexico, he said the sheer will to live, along with strength from God, kept him alive as he miraculously swam for what he believes was more than 15 hours. Grimes, 28, who described himself as an "average guy" who likes hunting, fishing and being outdoors, was rescued late on Thanksgiving Day and told CNN he is "blessed to be here." The Alabama native was onboard the Carnival Valor with 18 members of his family for the week of the Thanksgiving holiday. It was the night before Thanksgiving when Grimes, who was at an onboard bar with his sister, went to use a restroom around 11 p.m., his sister recalled, according to a Carnival statement to CNN. The last thing he remembers before regaining consciousness in the water was going to listen to live music aboard the ship with family, he said, and he doesn't remember where, or how, he fell off the ship. He'd had drinks on the Valor, but says he was not inebriated, Grimes told ABC earlier. "I was trying to stay as positive as I could from the moment I came to, and regain consciousness, I can just remember right then thinking, 'wow, it's a miracle that I'm not already dead,' " Grimes said. Grimes said he is not capable of floating, and credited his survival to his faith and positive attitude, adding he even created songs to keep his spirits up. He swam through two schools of jellyfish and watched the sun rise during his time in the water, and said he lost almost 20 pounds during the experience. "The lord gave me the will to live. It's a miracle," he told CNN. "I wasn't going to give up at any point in time just say, this is it, this is the end. It never came to that. I was determined to swim until my arms and legs could not hold my body up anymore." "It was like a 20-hour baptism," he added. He also battled confusion, fatigue, and some sort of creature below. "It came up on me really quick. And I went under, and I could see it. And it wasn't a shark, I don't believe. But it had more like a flat mouth, and it came up and bumped one of my legs, and I kicked it with the other leg. It scared me, not knowing what it was ... all I could see was a fin," he told ABC earlier. At another point, Grimes grabbed a floating stick, which he said "looked like bamboo," and started chewing it. "It gave some type of flavor in my mouth other than saltwater," he told ABC. Grimes also said he had conversations with God during his time in the Gulf. "'Lord, my worst fear is drowning. I don't know why you put me out here in this trial, but I know you're going to get me through it,' " he recalled saying. "It wasn't a matter of if I get saved or if they find me, it was just a matter of when, and I just got to keep swimming until they do." Grimes' family had reported him missing at noon on Thanksgiving. He eventually saw lights from a tanker ship, and swam toward it, he had told ABC. The ship's crew spotted him around 8:25 p.m. and alerted the Coast Guard, which sent a helicopter crew to hoist him out of the water, the service said. The Coast Guard member who rescued him looked like a guardian angel coming down from the helicopter, Grimes told CNN. Lt. Seth Gross, a search and rescue coordinator for the USCG told CNN if Grimes was in the water for 15 hours, it's "the absolute longest that I've heard about, and just one of those Thanksgiving miracles." "The fact that he was able to keep himself afloat and above the surface of the water for such an extended period of time, it's just something you can't take for granted and certainly something that'll stick with me forever," Gross said, adding the case showed how much "the will to live is something that you need to account for in every search-and-rescue case." Grimes is now planning a trip to New Orleans to meet the Coast Guard crew who rescued him and added he wouldn't rule out another cruise in the future. "If that's the worst thing I ever have to go through again, I think I'll be okay," Grimes said. "Being the Alabama fan that I am, I was out there just rolling with the tide." - by Leyla Santiago, Jaide Timm-Garcia, Hannah Sarisohn and Alaa Elassar, CNNSee omnystudio.com/listener for privacy information.
Former Defence Minister Linda Reynolds has confirmed that she was advised on Friday that her former staffer Brittany Higgins intends to file a compensation claim — that could climb as high as $3 million. News.com.au revealed over the weekend that Ms Higgins' legal team had entered negotiations over a bombshell multimillion-dollar personal injury claim. It's believed the claim includes $2.5 million for future economic loss, past economic loss, general damages of future assistance with at-home care and past and future out-of-pocket expenses of a further $150,000. Lawyers acting for Ms Higgins indicated they were pressing ahead with the claim on Friday, the same day that it was announced the charge against Bruce Lehrmann would be dropped and the criminal trial would not proceed based on a risk to the life of the complainant, who remains hospitalised in Queensland. “I confirm that I was advised in March this year by Blumers, who act for Brittany Higgins, of a civil claim by Ms Higgins against me and other parties,” Senator Reynolds said. “However, proceedings are yet to be filed. Blumers advised me yesterday that their client intends to progress the civil claim this month.” Ms Higgins also took to Instagram on Sunday, posting a text version of the speech she gave outside the ACT court when the first trial ended over juror misconduct. The speech angered defence lawyers because among other issues it claimed that Mr Lehrmann, who has always maintained his innocence, was never asked to hand over his phone to police. In fact, he was required to surrender his phone to police, with calls he made raised by prosecutors and the defence during the trial. Mr Lehrmann, who was originally charged over her alleged rape, is also considering civil remedies for a cash payout, with his legal team considering a Comcare claim, defamation action against media outlets and unfair dismissal from the jobs he lost after the allegations emerged. Mr Lehrmann has always maintained his innocence and was never convicted of any crime. Sources who have seen the legal documentation supporting Ms Higgins' claim say that it includes compensation for lost earnings, future earnings and at-home support for Ms Higgins, who has not worked full-time since she went public with her account of an alleged incident at Parliament House. The three respondents named in the legal correspondence are Senator Reynolds, who was Ms Higgins' direct employer at the time she was found in the ministerial suite by a security guard in 2019, Liberal frontbencher Michaelia Cash, and the Commonwealth. But an official claim has not been filed while parties prepare to enter into mediation talks. Ms Higgins' personal lawyer Leon Zwier, who was a regular fixture at her criminal case in Canberra, is aware of the claim. However, Ms Higgins is being represented in the personal injury matter by Noor Blumer, a founding partner of Blumers Lawyers who has practised as a personal injury lawyer since 1992. Ms Blumer has been quietly negotiating the claim since February. It follows former Prime Minister Scott Morrison's apology to Ms Higgins in parliament for the “many terrible experiences Ms Higgins has detailed during her time working at Parliament House and the treatment that she has described receiving whilst working here”. But he insisted that apology was “by no means a reflection on the matters before a court”. Ms Blumer declined to comment on the matter or any mediation talks when contacted. A leading Canberra lawyer, Ms Blumer previously went public with her own complaint that former High Court judge Dyson Heydon tried to touch her leg under a table and kiss her at University of Canberra Law ball several years ago. Mr Heydon issued a statement at the time through his lawyers denying “emphatically any allegation of sexual harassment or any offence”. News of the compensation claim follows shock revelations over the weekend that police “unlawfully” sent Ms Higgins private counselling notes to Mr Lehrmann's original defence team – who insisted they didn't open it. Further revelations that police held concerns there was insufficient evidence to charge Mr Lehrmann were also leaked to The Weekend Australian, prompting the prosecutor Shane Drumgold to raise concerns that this was – potentially – another unlawful disclosure. Last year, Senator Reynolds offered a confidential defamation settlement to Ms Higgins after it emerged she had privately referred to her as a “lying cow”. The money was donated to charity. But Liberal sources said Ms Reynolds, who gave dramatic evidence at the criminal trial this year, was reluctant to settle the case. “She will never, ever, agree to settle,” a Liberal source said. The other former minister named in the claim, Senator Cash, emphatically denied in the ACT Supreme Court that she knew of Ms Higgins' rape allegations more than a year before it became public in February 2021. “Not a sexual element, no,” Senator Cash said. “The first time that she mentioned an (alleged) sexual element was I think in the conversation on the 5th of February 2021.” - by Samantha Maiden, news.com.auSee omnystudio.com/listener for privacy information.
Andrew Saville and Guy Heveldt joined Mike Hosking to discuss the latest action from the FIFA World Cup in Qatar, Shane van Gisbergen's coronation, James McDonald becoming top jockey in the world, and Tyson Fury's victory over Deontay Wilder. LISTEN ABOVESee omnystudio.com/listener for privacy information.
Making it big in the US market is what every Kiwi-founded company dreams of — but for Monday Hair Care it has become their reality. The Kiwi company has just renewed its contract to sell its hair care products in Costco USA. After an initial three-month trial from its start in January, Monday became the number one hair care brand in Costco USA. Monday Hair Care co-founder Jaimee Lupton joined Mike Hosking. LISTEN ABOVESee omnystudio.com/listener for privacy information.
What is it we are supposed to make of the revelation that the Prime Minister, having told us she didn't know about her party's attempt to entrench aspects of the Three Waters law, turned out to be in the very meeting where it was discussed? A couple of simple questions. Firstly, where is the media on this? The story had scant coverage - why is that? Is it not a story? Can the media who ignored it, which is most of them, seriously argue it doesn't deserve a lot more coverage than it got? Why did the Prime Minister tell us she didn't know about it? Not only does that appear not to be true, but also made her look like she didn't know what was going on in her own party. A party that went to Parliament and tried to entrench a bit of law that was so outside the norm it alarmed every constitutional expert in the country Why would you want to look out of touch? They seem by the way to have settled on the term “novel”. It was a novel approach. "We knew it was a novel thing to look at". Novel is used to try and replace other words like scandal and dishonest. And then if she knew about it, which it appears she did, given Nanaia Mahuta said it was discussed and Jacinda Ardern confirmed she was there, is it possible she was asleep. I jest. But if she knew about it, but said she didn't until it gets exposed, what does that say about her integrity? And once you get to the Prime Minister's integrity, I go back to the original question about the media and their lack of coverage of this. A Government is trying to up end the way we conduct Parliament, the law and elections. And what do we get? Little, if anything. And if we question the Prime Minister's integrity, that also then brings in their promise to be the most open, honest and transparent Government ever — a line surely now so farcical, it will go down in political history. One last question; is it the sort of thing being thought about this week in Hamilton as we wait for the result Saturday? Crime seems to be the top topic, which by the way is an astonishing thing all by itself given the cost of living crisis. Historically the economy, the economy, it's the economy stupid - is your driving force. So how bad must crime be perceived to top the economy? But what about our leader? If you can't trust the person running the country, what does that do to your vote?See omnystudio.com/listener for privacy information.
Belief a shortage of capacity across the entire bus and coach sector will impact tourism. The Bus and Coach Association says there are shortages of coaches, operators, and drivers. Association Chief Executive Ben McFadgen says tourism operators are struggling to keep up with such high demand from the return of overseas travel. He told Mike Hosking it's time for the Government to intervene. “Despite the fact we keep saying to the Minister we've got a serious problem here and we need to address it, we keep getting overlooked. We can't even get a meeting with the man.” LISTEN ABOVESee omnystudio.com/listener for privacy information.
Tech giants could be forced to the bargaining table to pay for local news content. The Government is drawing up legislation to make companies like Google and Meta pay local news producers for their content. They're encouraged to strike their own voluntary deals, as NZME - owner of Newstalk ZB and the Herald - already has. If no agreement is found, the Government will set bargaining terms. Technology commentator Bill Bennett told Mike Hosking the legislation won't cause online platforms to stop using local content. “It hurts their business if they're not that prominent in a country. They need our news.” LISTEN ABOVESee omnystudio.com/listener for privacy information.
The Government is backing its decision to fund 46 councils with $350 million in public transport upgrades. The package covers almost 400 new or upgraded bus stops, nearly 250 kilometres of cycleways and some 120 school improvements. Transport Minister Michael Wood says the projects will help meet future needs caused by population growth and climate change. He told Mike Hosking the upgrades are essential for getting people off the road. “To the extent that the public transport system isn't as good as it could be and not as good as it should be, we've got to make these improvements.” LISTEN ABOVESee omnystudio.com/listener for privacy information.
House prices have fallen by an average of $90,000 in parts of New Zealand after a turbulent year in the property market. That meant homeowners who bought at the height of the property boom in late 2021 could find themselves with mortgages larger than the value of their home, especially in Auckland and Wellington. But there were also some positives: the fall in prices was allowing more first-home buyers onto the property ladder. The OneRoof Property Report for 2022, published today, captured the huge market shift during the year and highlighted some risks on the horizon for homeowners. The housing market went from “fear of missing out” to “fear of overpaying”, Oneroof editor Owen Vaughan said, as a boom which started during Covid gave way to falling prices, tighter lending and uncertainty about the year ahead. Nationwide, the average property value fell by 8.15 per cent, or nearly $90,000, since a high of $1.1m at the end of February. Values fell in every region except the West Coast. Homeowners in Wellington and Auckland were worst affected. The average property value fell 17.7 per cent ($201,818) in the Greater Wellington region since prices peaked in March, with some central suburbs taking a price hit of more than $400,000. This was largely because of the withdrawal of Auckland investors who had driven much of the inflation since the Covid-19 pandemic. In Auckland, average property values fell 12 per cent (more than $180,000) since the peak. James Wilson, head of valuations at Valocity, said the fall in prices in 2022 was the largest since 2010, but had to be seen in context: the boom since Covid was one of the strongest New Zealand had ever experienced, with average growth of 33 per cent nationwide between early 2020 and early 2022. While the fall in prices may make the market more affordable for some, it raises concerns about negative equity for those who bought at the market's peak. “The data shows that the homeowners who purchased in late 2021 and early 2022 are more likely to be in negative equity position now,” Wilson said. “Investors, those with more than two properties, are likely to be less exposed as a result of the 40 per cent deposit requirements for investment properties.” Nicki Cruickshank, the principal of Tommy's real estate in Wellington, said prices went higher than expected in 2021 so the drop this year was to be expected - but she had not expected the turnaround to be so sudden. “But in the big picture most people own houses for 10 years-plus so overall they've still done well.” Sanjeev Jangra, a Loan Market mortgage adviser who works in Auckland's south, said interest rate hikes took people by surprise, especially last year's borrowers who were not expecting them to go so high so fast. There had been some positives for those wanting to get into the market. Jangra noted a switch in his client base from 40-50 per cent investors to around 80 per cent first-home buyers. Investors did not have enough equity after prices fell 15-20 per cent, he said. Looking ahead to 2023, Wilson said he expected property values were likely to keep falling but at a slower rate. A range of factors would have an impact on the market, including reduced sales activity, the election, and the Reserve Bank's inflation battle. “Inflation is the elephant in the room and won't disappear overnight. But while cost of living pressures are reaching across nearly all parts of our daily lives, we're actually not seeing a significant drop in spending and that's probably because a lot of people still haven't had to fix their mortgage at a higher rate,” Wilson said. “When that happens and those mortgage rates begin to really bite, then spending is likely to dry up. Obviously, that has bigger economic impacts but the key question is: will inflation be tamed by traditional policy or will a hard, economic landing do the job? At this point, a lot of signs point to a harder landing than would be ideal.” Highs and lows Steepest fall from market peak (region): Greater Wellington - down 17.68% ($201,818) from market peak of $1.14m Steepest fall from market peak (suburb): Waterloo, in Lower Hutt - down 23.9% ($279,200) from market peak of $1.168m Highest average property value: Herne Bay, in Auckland - $3.816m (down 2.3%, $91,000, on the previous year) Lowest average property value: Ohai, in Southland - $158,000 (up 28.5%, $35,000, on the previous year) Highest 12-month value change: Glenorchy, in Queenstown-Lakes - up 28.9% to $1.446m Lowest 12-month value change: Waiwhetu, in Lower Hutt - down 19.7% to $783,000 Highest five-year value change: Raetihi, in Ruapehu - up 212.3% to $406,000 Lowest five-year value change: Auckland Central, in Auckland - up 0.3% to $612,000 *Current to the end of October 2022 Top settled sale: Paritai Drive, in Orakei, Auckland. Sold in May 2022 for $20m This Paratai Drive property in Auckland sold for $20m - the highest price in 2022. Photo / Supplied Bottom settled sale: Romilly St, in Westport, Buller. Sold in June 2022 for $32,500 This home in Westport sold for $32,500 in June - the lowest house sale in New Zealand in 2022. Photo / Supplied - by Isaac Davison, NZ HeraldSee omnystudio.com/listener for privacy information.
Pharmac says it's pleased to be ready to consult on a drug the cystic fibrosis community's been after for a long time. A provisional agreement's been made between Pharmac and Vertex to fund the drug Trikafta for those with the condition aged six and over. The drug buying agency estimated it could give those people up to 27 more years of full health when compared with supportive care. Pharmac Operations Director Lisa Williams told Mike Hosking more funding for Pharmac was announced in this year's budget. She says that has made a difference and they've been able to fund a lot more medicines this year. LISTEN ABOVESee omnystudio.com/listener for privacy information.
The Reserve Bank's Governor of Australia Philip Lowe reminded me of Eugenie Sage this week. Or maybe it was the other way round? Either way, it's about power and influence. The Sage defence of the cluster that has been this astonishing attempt to upend democracy in this country with the entrenchment debacle is all the evidence you need to know that not all people in power, should be. Her rationale and I use that word extremely loosely, was so devoid of any common sense it was frightening. Essentially, it boiled down to 'we don't like the idea of privatisation so we want to stop it'. All Governments don't like the idea of a bunch of stuff the next Government might have a crack at. But part of the democratic deal is you have a thing called an election, you state your case and the best person wins. In the meantime, Philip Lowe, who is in about as much reputational trouble as Adrian Orr, apologised. Like Adrian did. He apologised for the fact a lot of people went and borrowed a lot of money when money was cheap and have now been caught out because the Reserve Bank Governor changed his mind about inflation. "I'm sorry if people listened to what we said and acted on it". Those were his exact words - "I am sorry if people listened to what we said and acted on it". Have you ever heard such an abdication of responsibility? As opposed to what Philip? Us listening to what you say and dismissing it? Thus meaning what? That what you have to say means nothing? Hence the next obvious question - why do we have a Governor of the Reserve Bank? What positions do we listen to? What advice do we act on? If we are ignore bank governors, what about hare-brained politicians or indeed Prime Ministers? Just who does, and does not, have any level of tangible responsibility to speak and have their words and intentions followed or acted upon? It's all care, no responsibility. Sage loves sitting in Parliament making all sorts of rules and regulations until its shown she's a mile out of her depth. Phillip loves running an economy until, ‘whoops I'm not sure I know what I'm doing so just ignore me please.' The asylum really is run by the inmates.See omnystudio.com/listener for privacy information.
At the end of each week, Mike Hosking takes you through the big-ticket items and lets you know what he makes of it all. The Police: 7/10 The adjustment to pursuits is a reminder that under Andrew Coster they've got it wrong and they've got it wrong because of Government direction. Fog cannons: 2/10 An astonishingly blatant failure to address real harm. They're not even here until next year. It looked like bungled panic. Entrenchment: 0/10 Probably the worst thing this Government has tried so far. When you literally look to gerrymander the system you are in the realm of the Third World, the despots and the crooks. Ben Bell: 6/10 Small bit of advice; never give in to the whiners and those who hate change, especially when you've got a mandate. The red meat study: 7/10 It won't kill you after all. Yet another reminder of how so much of what we have been lectured about simply isn't true. Lydia Ko: 8/10 Star of the week. Being No.1 is great but dropping off and getting back is the real story. Persistence is an awesome attribute. Car prices: 3/10 You interfere in the market with fees and rebates and rules and ideology and what happens? Prices to go up, sales to go down. What an awesome business model. The gaming industry: 7/10 Bright spot of the week as the growth rages on. Agriculture: 8/10 The other bright spot of the week as sales of anything red and edible bring in the heavyweight money, along with the milk to wash it all down. Immigration: 1/10 Low light of the week as yet again, this time with the partners open visa, we are reminded that we have a policy that is breaking us and a minister overseeing it who is an idiot. LISTEN ABOVE FOR MIKE HOSKING'S FULL WEEK IN REVIEWSee omnystudio.com/listener for privacy information.
The Government has a challenge in front of it over what to do about the plight of the Ruapehu ski fields. Ruapehu Alpine Lifts is in voluntary administration, carrying debt of $45 million. The Government isn't throwing anymore lifelines, leaving the business that runs the Turoa and Whakapapa ski fields staring down the barrel of liquidation. The company's demise would cost taxpayers up to $100 million because all infrastructure would have to be removed from the mountain. Ruapehu district mayor Weston Kirton told Mike Hosking the Government doesn't appear to realise these costly implications. He's asking the Government to consider whether they would rather spend $20 million now to save the ski field or another $80 million to demolish the infrastructure. LISTEN ABOVE See omnystudio.com/listener for privacy information.
Our country's Kiwifruit pickers may soon have a robotic friend to help them out. Waikato University engineers have developed an e-bin which rolls alongside workers. They can drop the fruit into the bin, where it will be safely caught and stored in a net, instead of having to lug heavy bags on their backs. Waikato University Engineering Lecturer Nick Pickering says it will make the job more accessible. He says it shows the utility of robots in the workforce. Pickering says it shows we don't have to fully automate jobs away. LISTEN ABOVE See omnystudio.com/listener for privacy information.
The Children's Minister says the system needs to do better so more children aren't killed. A damning investigation into the murder of five-year-old Malachi Subecz has identified five critical gaps in the system. The Tauranga boy was murdered by his carer last November, after a history of abuse. The review makes 14 recommendations - aimed at ensuring there are interlocking safety nets in place. Children's Minister Kelvin Davis told Mike Hosking Oranga Tamariki had the first vital opportunity to intervene, and when they missed that other agencies also failed. He says the Government has accepted nine of the 14 recommendations and are looking at the other five. LISTEN ABOVE See omnystudio.com/listener for privacy information.
The Police Association says new policy around police pursuits could be useful as the vast majority of fleeing offenders are in their own vehicles. New government measures give police the ability to permanently remove a fleeing offender's car, with harsher licence disqualifications also coming into force. Association President Chris Cahill told Mike Hosking while there's a perception most people who don't stop for police are in stolen cars, that's not the case. He says only about 25 percent are in that category, so many people will be putting their vehicles at risk. Cahill says ram raiders however are the exception and are generally always using a stolen car. LISTEN ABOVE See omnystudio.com/listener for privacy information.
Sir Murray Halberg is being remembered as a man who was incredibly tough on the running track. The athletics legend and philanthropist has died aged 89. He excelled as a world-class athlete on the international stage for a decade, with his greatest achievement winning the five thousand metre gold at the 1960 Rome Olympics. Sir Murray Halberg's best friend Bill Roger told Mike Hosking he was a very hard man to beat at the finish. LISTEN ABOVE See omnystudio.com/listener for privacy information.
Child Matters says politicians need to be bold in making policies to address child abuse. A damning report into the murder of five-year-old Malachi Subecz by his carer has found five critical gaps in the system. It makes 14 recommendations aimed at ensuring there are interlocking safety nets in place, so another child doesn't endure the same thing. Child Matters CEO Jane Searle told Mike Hosking the Government should accept all 14 recommendations, not just nine. She says the recommendations are all important, including the one around mandatory reporting. Searle says that's where New Zealand is lagging behind other countries. LISTEN ABOVESee omnystudio.com/listener for privacy information.
Time to catch up with one of the Mike Hosking Breakfast's absolute favourites. We all know William Shatner's CV - including the smash hits Star Trek and Boston Legal. William Shatner talks Mike Hosking through his experience going into space with Jeff Bezo's Blue Origin. You might remember last year he was back in the global headlines when went into space with Jeff Bezos and Blue Origin. Shatner talks his nerves during the launch process. Now he's reflecting on that experience and his life with a new book, Boldly Go. That will be in bookstores in a few days. Shatner talks the inspiration for his book Boldly Go and his love of learning new things.See omnystudio.com/listener for privacy information.
With the news that the Government are yet again messing with immigration settings and partners are now no longer allowed an open visa unless you are on the famed, but hopelessly inadequate, green list - let me ask you this question. Who is doing the most damage to the economy? Is it Grant Robertson with the printing, spending, cost of living crisis and upcoming recession? Or is it Michael Wood with his refusal to supply the country with an amount of labour to actually meet demand? One sort of leads into another but I'd argue Wood is your number one danger based on the fact that Robertson has a pile of balls in the air. As badly as they have cocked up the economy there are a tremendous number of variables at play Whereas in immigration it's clean and clear cut - you choose what sort of visas you offer and you choose the number of people you allow in on those visas. The only possible issue beyond your control is demand. If no one wants to take you up on your offer, short of going out and spruiking your credentials, you kind of have what you have. That would not appear to be our issue. Our issue appears to be an astonishing refusal to offer a solution, when a solution is so easily and readily available. Is it pig headedness that prevents him moving? He throws $60 million at bus drivers and yet doesn't let more bus drivers in. He argues as to whether we have a nursing shortage, given he thinks nurses are coming into the country in the numbers we need, when they are not. What makes it really maddening is he says he is listening, when he isn't. I still don't see a single sector that says "thank god for that, our labour issue is solved". Even the RSE part, which they have moved on, isn't solved. The processing is an issue, the accreditation is an issue, the fees are an issue, the wage levels are an issue and the criteria is an issue. I have yet to find a single person who argues any aspect of this is working. What I pray for is a David Clark type revelation. Remember Clark and his CCCFA lending debacle? To his credit, he eventually backed down and said 'I got it wrong, we'll do it again'. And he did. It's still not sorted properly but at least he tried. Wood isn't even trying. So surely in the end of year prize for the minister who did his worst and provided the most damage to New Zealand Inc, no one has beaten Michael Phillip Wood of Mt Roskill.See omnystudio.com/listener for privacy information.
The company started by the Government to build Auckland's Light Rail had zero employees a month after it was founded. Written parliamentary questions show it now has at least one; chief executive Tommy Parker. Auckland Light Rail Limited was established on October 6, and as of November 9, it engages 54 contractors and consultants. National's transport spokesperson Simeon Brown says all Labour has done is hire consultants for the project, rather than deliver a business case. But the Transport Minister says employment arrangements in the transport system are often project-by-project. Michael Wood says they often rely on a large number of consultants and contractors. Simeon Brown joined Mike Hosking. LISTEN ABOVE See omnystudio.com/listener for privacy information.
Canterbury businesses are making sure they're not forgotten as retailers grapple with crime across the country. 80 of the city's business owners have signed a letter asking the Government to hold offenders to account. They're concerned the recent crime support announcements don't go far enough. Canterbury Employers' Chamber Chief Executive Leeann Watson told Mike Hosking it's not unique to Christchurch, but they want to stop what they're seeing. She says the current rules, regulations and consequences need to be reviewed to break the cycle. LISTEN ABOVESee omnystudio.com/listener for privacy information.
New data shows an experimental drug could help some people with early stage Alzheimer's. The medicine, lecanemab, attacks the protein amyloid that builds up in the brains of people with Alzheimer's, slowing progression of the disease. There are side effects for some such as brain swelling and researchers are clear more work is needed. Alzheimer's New Zealand Chief Executive Catherine Hall told Mike Hosking it's early days. She says it's an intravenous injection once a fortnight for 18 months and there's a long way to go to see if it's worthwhile. LISTEN ABOVE See omnystudio.com/listener for privacy information.
Fair pay negotiations could end up being a long, drawn out process. Unions say they already have enough signatures to demand a Fair Pay Agreement for hospitality workers. It means any negotiated pay and working conditions will apply to all employers in the industry. But Employers and Manufacturers' Association Head of Advocacy Alan McDonald told Mike Hosking there are some very complex things around this. He says there are all sorts of technical arguments around wage bargaining that need to be very precise. McDonald suggests the way the legislation is written, things are very imprecise. LISTEN ABOVE See omnystudio.com/listener for privacy information.
New Zealand's primary producers could be our saving grace as an economic storm brews. Our food and fibre export revenue is on track to reach record heights, in what's hoped will help protect New Zealanders from the global downturn. The Situation and Outlook for Primary Industries report released today, shows food and fibre exports are tracking to grow to $55 billion in the coming year - up almost $3 billion from forecasts made earlier in the year. Agriculture Minister Damien O'Connor told Mike Hosking it's a brilliant outcome. He says they usually undershoot in their predictions, and may reap even more than the $55 billion dollars they've forecast. LISTEN ABOVESee omnystudio.com/listener for privacy information.
The number of people behind on debt repayments has increased by five percent in the year to October. Data by credit bureau Centrix shows the number of missed home loan repayments has risen for the third month in a row. Meanwhile, demand for consumer credit has risen, with personal loan demand up around 18 percent and vehicle loan demand up 17.3 percent year on year. Centrix Managing Director Keith McLaughlin told Mike Hosking there had been a downward trend in arrears over the past five years, so it's quite a reversal. He says it's a signal of what may happen in the future. LISTEN ABOVE See omnystudio.com/listener for privacy information.
Our National Party got themselves some coverage in Australia yesterday because three of their senior players are over there campaigning. The group is led by Chris Bishop and it shows a couple of things: 1) There are a lot of Kiwis in that part of the world so the pickings are particularly rich. 2) National are clearly organised given the election is a year away. 3) It's a fascinating experiment, where mood, actions and reactions lead to votes. The main reason they are over there is MIQ and the inability of tens of thousands of expats to access this country for such a long period of time during Covid. The question I suppose is - is that anger, all those threats, that dismay, that outpouring of grief going to convert to votes for the opposition? If you bottled the mood at the time, the Government would have been toast. The MIQ system was shockingly designed, fundamentally flawed and ended up in court with a loss for the Government. It was a foray into repression and fury that was never really needed and a very good example of what this Government has become famous for - dreaming up a plan then cocking it up. The famous got access to The Wiggles and Jacinda Ardern's favourite DJs while people were locked out and forced to watch loved ones die, loved ones get married via zoom and that mad lottery of getting up at all hours and watching as you yet again got a number that would not get you anywhere close to getting a room and into the country. Charlotte Bellis, remember her? The pregnant journalist who bullied her way in by embarrassing Chris Hipkins into submission - the whole thing was a grotesque mess. So, are they still angry you reckon? Or have they moved on? Is there still payback for an opposition to be mined or do we see it in a new light? Dan Andrews in Victoria locked his people down as badly as us, if not longer, and he got re elected over the weekend. Did people forget, or forgive, or were they not that bothered to start with? Our Government will be praying time heals all ills - and retribution isn't a driving force.See omnystudio.com/listener for privacy information.