The Mike Hosking Breakfast

Forget the detail of the power reforms, because we dealt with them yesterday, let's deal to the politics of it and a habit the Government has that is hurting them.  There is a pattern.  The pattern is the Government tells us there is something wrong, it could be banks, it could be supermarkets, it could be power, or it could be airlines.   The last Government had the same issue – they took on petrol stations.  Their concern is partially real. It's real because 1, there might be bits and pieces of the sector that could do with some tightening or tidying and 2, there is almost always consumer concern.  The consumer angst is part of the problem, because the consumer will always see a problem whether there is one or not. That’s why lazy journalists do vox pops – is butter too expensive? The answer will always be yes. Doesn’t mean that’s a problem a government can solve.  So having stated the problem, you have then created the expectation that you will do something about it.  The trouble with yesterday's power deal was the obligatory report suggested more than what actually eventuated by the time the final decisions were made.  Hence the reputation, and the reputation is of a government that talks a lot, does a lot, but the “a lot” doesn’t amount to much.  Yesterday was your classic example: the Electricity Authority gets clearer riding instructions, big deal, the industry has the perception removed that the government don’t want to get into big projects, a phone call could have done that.  We are to import, in several years time, some LNG – great. Nothing wrong with any of it and it would have landed well if they hadn't given you the sense that Reform —capital letters— was on its way  Personally I never thought the industry was that broken. Labour and their oil and gas debacle hobbled us for several years while we wait for the windmills – bit of coal bridges the gap. Like butter, and indeed airlines, there is generally logic as to why things are the way they are.  The report fell flat not because what was in it made no sense or hurt an industry, but because it had an “is that it?” feel about it.  And it had that feel about it because the Government haven't worked out the balance between hype and reality.  Of their passion projects, where trouble sits, banks, airlines supermarkets, or power – name me the one that’s materially different because of what they did, not what they said.  Politically, that’s their failing. See omnystudio.com/listener for privacy information.

A new cookbook and a celebration of the farming sector.  Kiwi Chef Nadia Lim has spent over five years designing her new cookbook, which she says is about paying tribute to the farmers, land, and sustainable food.  ‘Nadia’s Farm Kitchen’ is filled with seasonal recipes, as well as offering a glimpse into life on Royalburn Station with personal stories and anecdotes.  She joined Mike Hosking to discuss the book and for a bit of a trip down memory lane, telling him that looking back, their journey on the farm is quite different to what they originally expected.  “I would describe the whole journey, if I could sum it up, as starting from quite an idealistic place,” Lim told him.  “You know, oh, we’re going to be on this farm and we’re going to diversify and we’re going to have a full farm to plate model, to being chipped away, chipped away at slowly over the years, to definitely becoming a whole lot more realistic.”  “It’s really a game of you win some, you lose some.”   However, despite some mixed results, Lim says they love living on Royalburn Station.  “It might not be the best financial return, but I can tell you it is the best lifestyle return, and you can’t beat that.”  LISTEN ABOVE See omnystudio.com/listener for privacy information.

On the Mike Hosking Breakfast Full Show Podcast for Thursday 2nd of October, the Government is teaming up with banks to try deliver more social housing – Minister Chris Bishop unpacks the scheme.   Pharmac’s new Chief Executive Natalie McMurtry speaks for the first time on how she plans to lead the entity.  Beloved Kiwi chef Nadia Lim has been working on her new cookbook for about 5-6 years and is on to talk about it and the value of the farm.  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.

Natalie McMurtry says Pharmac's model drew her to the agency's top job.   She is just three weeks into her five-year-contract as chief executive at the drug-buying agency.  The Canadian is tasked with continuing efforts to improve the agency's standing with the New Zealand public after years of degradation.  McMurty told Mike Hosking she’s happy to keep moving forward on the reset plan that’s been put in place.  She says she saw an opportunity to make an impact, and a board that has a great plan in place – one she could get behind.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

A big headache for NRL bosses ahead of the grand final.  10 stars are reportedly lined up to leave league, defecting to rugby union’s Saudi-backed ‘R360’, including Ryan Papenhuyzen, Zac Lomaz, and Warriors winger Roger Tuivasa-Sheck.  The competition is targeting an October 2026 start date.  But Australian Sports Journalist Jim Dolan confirmed to Mike Hosking that no one has officially signed onto the project yet.  He says there’s no coaches, no venues, and while there’s plenty of talk of money coming in from around the world, no one’s actually put their hand up and confirmed they’re investing.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

There's a view the property market will continue to be in buyers' favour for some time, despite values edging up.  Cotality data shows property values in New Zealand ticked up by 0.1% in September, following a cumulative 1.6% drop over the five months to August.  Chief Property Economist Kelvin Davidson says regional New Zealand properties are faring better.  He told Mike Hosking that 2026 is looking better, but right now things are pretty flat.   LISTEN ABOVE See omnystudio.com/listener for privacy information.

Corrections says a steep increase in prison assaults is due to better reporting of incidents.  New data shows there were more than 2600 assaults in the last financial year.   It includes more than 1500 prisoner-on-prisoner assaults, and more than 1000 on staff.   Custodial Services Commissioner Leigh Marsh told Mike Hosking they've been working hard to improve how they deal with these incidents.  He says the encouragement of reporting assaults has seen an increase in the number of non-injury assaults being reported, which where the biggest number lies.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Housing Minister's working to strengthen our community housing sector with a new loan scheme.  The Government will take on some of the risk of bank loans to eligible community housing providers.  It says the move should lead to more social homes with better lending conditions and lower priced loans.  Chris Bishop told Mike Hosking Kāinga Ora currently borrows through the Government's low rates, which gives them a competitive advantage.  He's trying to create a housing system that delivers warm and dry social houses, no matter who owns them.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Mercury Energy says the Government's new energy plan gives it confidence to keep investing in projects.  It's offering Crown-controlled companies more capital to invest in generation projects, establishing a Liquefied Natural Gas import facility, and giving the Electricity Authority greater power.  CEO Stew Hamilton told Mike Hosking businesses now have some form of clarity.  He says it allows them to keep building at pace, adding they're on the right track, as more power projects have been delivered in the last 18 months than the past 15 years.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Dixon Street building debacle surely allows us to ask some questions of the Treaty process.  If you missed it, Dixon St Apartments sold for a million dollars to local Māori under their Treaty deal – the Treaty deal had a first right of refusal clause.   Now my assumption, clearly incorrect, is you would get first right of refusal based on the idea that something of cultural or historic significance was coming to the market, and as local iwi you wouldn’t want to miss the opportunity.  I didn’t realise this was a commercial free for all, where anything and everything for sale goes to local Māori first.  Further, I had assumed, clearly wrongly as well, that in having a first right of refusal, that meant that long lost treasure, whether historic or cultural, would be returned to said iwi to be honoured and looked after in perpetuity, not flicked off for quick profit.  So obviously nothing like that is remotely part of the Treaty deals. So first question: why not?  Next question is: if it isn't, is it commercially acceptable to have a race-based clause when it comes to real estate?  And even if it is, is it commercially acceptable to sell stuff cheap?  For if you haven't followed the story, five minutes after buying the building, the new owners sold it on for $3 million.  So under a special deal signed for, on our behalf, by our government, we, the taxpayer, lose $2 million on one building.  Next question: how could a Crown agency, i.e. Kainga Ora, think $1 million was a good price for something that was clearly worth $3 million?  And in that is the problem with not involving the free market.  Next question: did anyone involved in the cloistered deal know what they were doing, and if not, given its taxpayers’ dosh, why not?  Another question: was the Treaty process designed so tribes could get into real estate speculation? At what point was a Treaty settlement about putting past wrongs right versus turning tribes into speculators?  This was a bad deal. The original owners of Dixon St, us, got stiffed.  And we got stiffed because of a race-based real estate clause that arguably should never have been part of an historic arrangement in the first place.  Final question: what are we going to do about it? Or more worryingly, is there anything we can do about it? See omnystudio.com/listener for privacy information.