On the Mike Hosking Breakfast Full Show Podcast for Thursday 19th of December, Heather du Plessis-Allan asks just how bad is our Q3 GDP will be, and whether we’ll slip back into a technical recession?  High Performance Sport NZ has decided who they're dishing out the funding to – so who are the winners and losers?  Kiwi actor and NZ Order of Merit recipient Mark Hadlow is bringing back his stage show 'Middle Aged Man in Lycra', by doing a sequel - ‘Grumpy Old Man in Lycra’.  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.

An economist says the third quarter was tough in pretty much every sector, for the New Zealand economy.  The major banks are all predicting between 0.2% to 0.4% contraction when Stats NZ releases the GDP data for the third quarter just before 11am today.  It'll likely mean our third technical recession in two years.  ASB's Chief Economist Nick Tuffley told Heather du Plessis-Allan the agriculture and forestry sector were essentially the only positive performers.  He says construction, retail, and manufacturing all felt the pressure, with electricity struggles also taking place during this quarter.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

There’s uncertainty around whether a large gas supplier staying in New Zealand will benefit the sector in the long run.  One of New Zealand's largest gas suppliers, OMV, will stay in the country.  Its executive board's decided not to sell 100% of its shares.  Enerlytica Director John Kidd told Heather du Plessis-Allan the sector needs continual re-investment.  He says the real question is if they keep investing, given they tried not to be the owner of the assets.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Government is defending its budgeting for the torture redress of Lake Alice survivors.  It's set aside more than $22 million for eligible survivors who were tortured at the psychiatric hospital in the 1970s.  They'll be able to choose between a one-off $150 thousand payment or apply for independently assessed redress.  Lead coordination minister Erica Stanford told Heather du Plessis-Allan it was a hard call to settle on $150 thousand.  She says there's no precedent for this situation anywhere in the world – other countries have paid out for torture in very different circumstance and the victims were adults.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

A 17-year old female student is the suspect in a school shooting in Madison, Wisconsin.  One teacher and a teen student have died, and six people were injured at the shooting at Abundant Life Christian School.  Police say the suspect was found dead.  CNN reports this is the US's 83rd school shooting this year, overtaking last year's record 82.  US Correspondent Richard Arnold told Heather du Plessis-Allan that evidence suggests the shooter died from a self-inflicted gunshot wound.   He says the family is said to be cooperating, and the girl left behind a note.   LISTEN ABOVE  See omnystudio.com/listener for privacy information.

We knew the Government books were going to be bad, but not this bad.  No way we’re getting to the surplus we expected in 2028. That is now so far away it’s not even in Treasury’s forecast period anymore.  It’s some time, who knows when, in the 2030's.  We’ll have to borrow another $20b in debt to tide us over for the next four years. That’ll push our interest payments over $10b every year.  So we’ll be spending more on our debt interest than we spend on Defence, Corrections, Police, and Customs combined.  Now, this is not the current Government's fault. This is a recession caused by Adrian Orr and the Reserve Bank to deal with Labour’s overspending.  But National are not doing what they need to.  They need to be cutting way harder than they are.  There is a measure we use to look at how much the Government is adding to, or reducing from, economic growth.  It’s called public consumption.  They were supposed to cut that by 1.4% this year. They cut it by 0.2%.  That’s basically no cut.  Next year it's supposed to cut by 2.2%. Now, it's by another 0.2%, which is to say they’re actually not cutting much at all.  We still pay the wages of 14,000 more public servants than we did in 2018. They’ve only cut one public agency, which is the Productivity Commission.  Nicola Willis spent more in her last budget than Grant Robertson ever did.  National keeps saying they can’t cut more because they don’t want austerity, but we are so far from austerity it’s not funny.  We are spending more and hiring more public servants than five years ago.  The trouble with that is we’re in a recession, which we weren’t five years ago.  National needs to treat this like the economic trainwreck it is and cut their cloth accordingly.  They might not be responsible for the mess we’re in, but they are responsible for fixing it and so far, they’re really not fixing it. See omnystudio.com/listener for privacy information.

On the Mike Hosking Breakfast Full Show Podcast for Wednesday 18th of December, the Government books are in a shocking state, so Heather du Plessis-Allan asked Nicola Willis how much is on the last Government, and how much is on her.  Did you hear the one about the judge, the doctor, and NZ First at the Northern Club? Trust us, it's a doozy.  For the final time this year Mark Mitchell and Ginny Andersen talk the books, political scandals, and what they're getting each other for Christmas on Politics Wednesday.  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.

Businesses hope to employ more migrants after changes to work visas.   The Government's updating the Accredited Employer Work Visa in March, removing the median wage threshold and reducing minimum experience requirements for lower skill roles.   They'll also reduce the minimum threshold for how many domestic workers must be employed.  BusinessNZ Chief Executive Katherine Rich told Heather du Plessis-Allan it’s a step in the right direction.  She says there are a lot of areas where businesses can’t get the skills and experience they need, and the changes Stanford is making will be react welcomed.  Rich says the median wage threshold was too high, and wound up being an artificial proxy for skill and experience.  She says in some cases it resulted in offshore applicants being paid more than their Kiwi counterparts, creating a bit of friction.  LISTEN ABOVE  See omnystudio.com/listener for privacy information.

It's suggested the Government's dealing with an economic hangover.  The half year economic and fiscal update, opening the Government's books, signals a surplus is further away than previously thought.  Politicians are clashing on what the numbers signal.  Speaking to Heather du Plessis-Allan, Labour's Ginny Andersen's accusing the Government of austerity, as public sector jobs have faced the chop.  She says that hits our local bars, restaurants, and businesses and slows the economy.  National party Minister Mark Mitchell told du Plessis-Allan Kiwis dodged a bullet when changing the Government and they inherited an awful economy.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Commerce Commission has issued a draft decision to reduce fees for businesses accepting card payments.  It's proposing an estimated reduction of around $260 million a year where costs are handed down from banks to process payments.  The commission revealed in July that businesses incur $1 billion in fees to provide card payments.  Chair Dr John Small told Heather du Plessis-Allan a few will be annoyed by it, but it's important they strike a balance.  He says they've consulted widely on it and believe they're at a point where they can simplify these rates and bring them down.  LISTEN ABOVE  See omnystudio.com/listener for privacy information.