The Mike Hosking Breakfast

Labour leader Chris Hipkins says compromises will need to be made in reforming the Resource Management Act.  The Government's replacing the Act with a new planning framework, including rules around land development and environment protections.  It's seeking cross-party support.  Hipkins told Mike Hosking the country's administration can't keep putting infrastructure projects on hold.  He says that if there are projects underway, even if they’re not the administration’s first choice, they’ll keep doing them.  Labour also wants clarity around the Treaty of Waitangi's role in the reform.  Cabinet's decided on ruling out incorporating a Treaty clause in the legislation, despite the Expert Advisory Group recommending the current clause be carried over.  Hipkins told Mike Hosking they want to make sure Treaty settlements are respected.  He says saying you want to respect the Treaty but then saying you don't want to put it into law is contradictory.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

A leading Australian economist says more focus needs to be put on productivity to pull Australia out of a deficit.  The federal Budget announced yesterday included tax cuts and cost of living relief for households.  HSBC Chief Economist Paul Bloxham told Mike Hosking with big spending measures announced in the lead up to the election, deficits to the tens of billions are forecast for years to come.  He says the best way to change that is to boost Australia's slumped productivity, which is at the same level as it was in 2016.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

There's a belief the bigger problem with Auckland's stadiums is not having the right sized venues.   Councillors are set to vote tomorrow on whether to back Eden Park 2-point-1 or build a new Quay Park site.  The latter project can be scaled down to 20-thousand for smaller events, from 50-thousand for big ones.  But Rugby World Cup 2011 chief executive Martin Snedden told Mike Hosking they can't keep putting smaller events like test cricket into big stadiums.  He says even if they build the new stadium and it gets five-thousand people to smaller games, they'll have the same problem.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Police Deputy Commissioner says staff are pleasantly surprised at the effectiveness of banning gang patches.   Rival gang tensions in Gisborne mean officers have just been given extra powers to search and impound vehicles and seize weapons, following eight incidents in a week.   Tania Kura told Mike Hosking the gang patch ban has been really good for them.  She says it's brought more control to the situation, with staff admitting it's probably gone better than they thought.   However, Kura says this doesn't mean they can rest on their laurels either.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

French actor Gérard Depardieu's gone on trial – charged with sexually assaulting two women on a film shoot four years ago.  About 20 other women have also accused the 76-year-old of improper behaviour, but this is the first case to come to court.  He's the highest-profile figure to face accusations in the French response to the Me Too movement.  Paris Correspondent Catherine Field told Mike Hosking his has been a long time coming.  She says he's such a giant in the industry, so the courts have shied away despite previous allegations.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

June 2026 is not far off.  In fact, it's next year and next year is election year.  By that time, it is being reported, the interest on our national debt will be $11b.  Do you see how this works?  Not long ago the warnings were issued that it might reach $10b and at the time, it was pointed out that that is multiple times more than the Police budget.  That's just in interest. Once we pay the $10b our debt doesn’t diminish. It's exactly the same. We have gone nowhere. We've just kept the wolf from the debt door for another 12 months.  Well, the $10b has gone and we are now heading for $11b.  Why?  Because as the Finance Minister keeps warning, and she is doing this because the budget is close, the cost of borrowing is going up.  Why?  Because we are a greater risk. Risky people who want money have to pay a higher price. It's why credit card debt is more expensive than mortgage debt.  The Government sells bonds, they ask for money and in return they will give you interest. For you to give them that money you want a decent return.  The last time they put some 10 year bonds out they were paying 4.62%. That’s a big interest bill on billions of dollars.  Remember also that they are adding to that debt pile each and every year until they reach an annual surplus. Even if they reach an annual surplus, which they aren't going to now for years, all you have achieved is not adding to the pile of debt.  Even if you add not one more dollar to the debt, the debt doesn’t shrink. It demands another $11b from you to pay the interest bill.  The mistake that is often made is we look to other countries and go "look, their debt is more than ours", either in dollar terms or as a % of GDP. What isn't pointed out is how small and vulnerable and unable we are to grow our way out of that.  We owe a lot and ratings agencies, although not alarmed, are alert.  This Government were left with a shed load of debt from an economically criminal previous Government.  And that bill is about to hit $11b a year, or over $30m a day.  Every day, forever. See omnystudio.com/listener for privacy information.

It’s been 17 years since Pete Murray last graced Kiwi stages.  The 3x number one album selling Australian singer-songwriter has announced a 55 date tour in Australia – including four stops in New Zealand.  He’ll be in the country next month, bringing just himself and his guitar. Murray told Mike Hosking that although he last performed here 17 years ago, he’s made the journey across the ditch much more recently. “Loved New Zealand, getting back over there and holidaying with the family just recently too,” he said. “In fact, when Covid hit a few years back, I got the last flight out of the place back to Australia.” Murray joked that they were probably disappointed to get the flight, saying it would’ve been nice to stay in the country during lockdown. But he told Hosking that 17 years without performing here is too long.  “I’m going back to correct that now, so, looking forward to it actually.”  “It’s going to be good fun.”  LISTEN ABOVE See omnystudio.com/listener for privacy information.

On the Mike Hosking Breakfast Full Show Podcast for Tuesday 25th of March, the Government is adjusting the RMA again – will this change be the end of it all?  The Prime Minister is back from India and talking Kainga Ora, councils stopping the clock, and our national debt.  Australian singer Pete Murray is coming back to New Zealand after 17 years to play some shows, so he came on for a chat. Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Australian beef exporters are being described as ‘lopsided and unfair’ by American farmers.  Over 20 years, the trade deficit between the two countries is thought to be $45 billion – America is hoping tariffs will fix that.   Beef + Lamb Chair Kate Acland told Mike Hosking New Zealand is not the target of America's proposed tariffs. She says the Americans’ concern is over “unfair trading practices”, and New Zealand plays with a really straight bat.   Acland says there’s no restrictions on American meat coming into New Zealand, our farmers and exports aren’t subsidised, and our exchange rate isn’t manipulated.   LISTEN ABOVE See omnystudio.com/listener for privacy information.

The All Whites have secured a spot at next year's expanded football World Cup, beating New Caledonia 3-nil in the Oceania qualifying final at Auckland.  New Zealand needed an hour to score when defender Michael Boxall headed in from a corner - replacements Kosta Barbarouses and Elijah Just also struck.  This marks the third time the All Whites have qualified for the World Cup, which now accommodates 48 rather than 32 teams.  NZ Football CEO Andrew Pragnell told Mike Hosking this is probably the greatest group of talent they’ve ever seen in the men’s space.  He says expectations should be high, and this group has the capability to not only win games, but get out of the group round.  LISTEN ABOVE See omnystudio.com/listener for privacy information.