The Mike Hosking Breakfast

Turnout in the weekend's local elections has fallen even further this time around. By the end of Friday, less than 33-percent of Kiwis had cast their vote. Local Government New Zealand President Sam Broughton - who was unseated as Selwyn Mayor - says we should be aiming for much higher turnout. He says general elections get double the turnout and we should expect the same for local elections. Prime Minster Chris Luxon told Mike Hosking both candidates and voters alike are to blame. He says candidates have to be compelling and set out a clear vision, but the public also can't complain if they don't vote. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Outgoing three term Selwyn Mayor Sam Broughton says rates increases played a part in his job loss.  Former Councillor Lydia Gliddon has taken the top spot in the country's fastest growing district, unseating the incumbent. She unseated the current Local Government NZ President by more than 13,000 - he was seeking a fourth term. Broughton believes Selwyn's larger than average rates increases contributed to voting behaviour.  He says although it took a personal toll, raising rates was the right thing to do, so the region could invest in long-term infrastructure.  LISTEN ABOVESee omnystudio.com/listener for privacy information.

Assurance for farmers with the latest methane target update.  The Government's set the 2050 targets to 14 to 24-percent below 2017 levels - which is 24 to 47-percent lower than the previous.  Federated Farmers President Wayne Langford told Mike Hosking they'd been advocating for lower, but this at least gives farmers a clear direction of travel.  He says the numbers are scientific rather than idealistic, which is good for farmers.  Langford says it's measurable, and they're on track to achieve it. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The annual report by ACC revealed a $1.5billion deficit, taking the total debt up to $13.8billion.  ACC Chief Executive Megan Main told Mike Hosking that the numbers are improving, but it's a 'big ship to turn around.'  She said that the costs for services from providers have risen more than inflation, hindering ACC's ability to provide rehabilitation for those who need it.  LISTEN ABOVESee omnystudio.com/listener for privacy information.

So soybean farmers, like a lot of American farmers, are having a very tough time of it.  Soybean farmers particularly so because most of their product goes to China. So far this season, China has bought no beans.  A lot of countries, when they can, are doing business with other countries and avoiding the American tariff regime.  China in particular is caught up in an ongoing shambles around trade generally, so China has gone to Argentina for their soybeans.  This has left the people of Minnesota, where most of the beans are grown, with a problem.  If you remember when Trump announced the tariffs, the tariffs had no downside, apart from a little pain at the start. His words: "a little pain".  I'm assuming losing your biggest soybean customer is the "little pain" bit.  Anyway, the White House’s response to this is a massive bail out. Farmers all over America from beans, to wheat, to corn are going to get money because they can't sell their products.  In a country like New Zealand, none of this will come as any surprise given we have been basically tariff free for years and we do business on the very simple basis that it costs what it costs to make something and you sell it to willing buyers for what the market can bear.  Need I introduce the butter story at this point?  The problem in some cases is if the tariff or barrier is too high into a market you look for other markets. This is happening a lot in food.  By the way, it's also reported Trump is looking at some kind of major carve out around car production as well, given there is no car that is truly American made and they told him this at the start.  So the tariffs arrived, the prices went up, and the demand went down.  I'm assuming even Trump can see that a farmer who grows something that he once sold to the world to make a living but now can't because he has been priced out of the market, does not a good economic story make.  And when said farmer then has to earn an income from the Government, not the market, something about the Trump tariff plan doesn't seem to be working.  But then there was no shortage of people pointing that out earlier this year. 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.    Attention seekers: 1/10  What a dreadful week as we gave far too much energy to narcissists who masquerade as people with causes, both at sea and on land.    Noeline: 2/10  Still nothing. How badly handled can a badly handled scandal be handled?    Winston Peters: 7/10  In between cleaning up the glass on his dog, his Pacific reset speech was a reminder of what a considered and sensible Foreign Minister he is.    Chlöe Swarbrick: 1/10  The party under her leadership really has become farcical. If Palestine was a national park, it might make sense.    Chris Hipkins: 3/10  Telling us how appalling it was that Winston's house got smashed but then didn’t vote for the new protest law. H.Y.P.O.C.R.I.T.E.    LISTEN ABOVE FOR MIKE HOSKING'S FULL WEEK IN REVIEW See omnystudio.com/listener for privacy information.

US President Donald Trump's confident the momentum will continue beyond the first phase of a Gaza peace plan.   The Israeli Government's voting this morning on whether to implement the terms agreed with Hamas yesterday.   It would see hostages released early next week and Israeli troops withdraw to agreed lines.   US Correspondent Richard Arnold told Mike Hosking the remaining hostages are believed to be held by splinter groups, so getting them all together will be challenging.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

I argued it because I thought it was the right thing to do.  Winston Peters entered the Fonterra brands sale debate yesterday, I suspect because he thinks there are points to be scored.  Not because he is wrong, because he isn't, but if you really cared about the sale that Fonterra has been involved with for some period of time, you might have stumped up a bit earlier.  In a way it's none of our business, neither mine nor Peters’. We aren't farmers and we don’t have a vote.  The people who do have a vote are in that process as we speak.  My guess is it will romp home and each farmer on average will be several hundred thousand dollars better off.  But there is also, as it's always been, the Fonterra social licence. Although the average punter doesn’t own them, or have a say, they are so big that their role in the New Zealand economy is outsized to the point that what they do has national implications.  I have always argued that their argument for sale is wrong.  There is, and never has been, any reason they can't and don’t run their brands successfully. They say it's not their core business.  Isn't it?  Milk turns into cheese and ice cream. Cheese and ice cream are the brands they are selling.  The French company, also in the same business as Fonterra, doesn’t seem to see it that way either, otherwise they wouldn’t be stumping up over $4 billion for it.  There is an agreement, and this is Peters' main point, that the new owner uses Fonterra products. But, says Peters, how long for, and when the clock stops, which it will, our milk will be in just another in a long line of milk jugs.  Peters tosses in a bit of conspiracy about Fonterra executives and bonuses. But that’s the politics of it all.  But then that’s always been the Peters way, hasn’t it?  At its core he makes sense. He values New Zealand and New Zealand products, so his view is consistent. But then there is always a little conspiratorial spice for the headlines.  If this sale was to be debated properly, far less halted, he needed to be front and centre ages ago.  So overall, the Peters' foray – good point, just too late.     See omnystudio.com/listener for privacy information.

It’s Friday, which means Kate Hawkesby and Tim Wilson are back with Mike Hosking to Wrap the Week that Was.   They discussed Dolly Parton’s not-dead announcement, the art Mike and Kate bought over the weekend, and whether or not they could pass a practical drivers test nowadays.   LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Bathurst 1000 returns this weekend.  The first practice has seen New Zealanders Ryan Wood, Matt Payne, and Andre Heimgartner sit first, fourth and eighth respectively.  Brodie Kostecki is the current champion, looking to obtain back-to-back victories.  Former Supercars driver Paul Radisch told Mike Hosking at the end of the day, everything just comes down to luck.  He says that even if you’re leading the race and make all the right preparations, someone else could still claim the win.  LISTEN ABOVE See omnystudio.com/listener for privacy information.