The Mike Hosking Breakfast

The Government is seeking an explanation from Oranga Tamariki.  This follows confirmation of the existence of a clause which allows for 'discretionary paid cultural leave', which is self-defined and not subject to managerial scrutiny.  Children's Minister Karen Chhour said that the clause was added prior to her becoming minister in 2023, and although she can't get rid of the contract, she intends to make her feelings known.  "I can't scrap signed contracts, but what I can do is make my concerns about this known." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Manufacturing company Skellerup has posted a record first half net profit, up 20% to $28.9 million - and they've upgraded their full year earnings guidance. The tariff hit is now expected to be just $2.5million this year - about half of what they originally feared.  Chief Executive Graham Leaming told Mike Hosking that the company has made an effort in the US, and says the company's actions have helped prepare for the tariffs.  "We have a strong presence on the ground in the US. We've got 50 people over there, so we understand our customers well and we understand the market well." LISTEN ABOVESee omnystudio.com/listener for privacy information.

I don’t blame Chris Hipkins and Co. for a moment, calling it a gas tax.  That’s politics when you are in Opposition, especially when you have no policies yourself.  What I despair about is yet another chapter of myopic nonsense around dumb words for cheap points.  The truth is comparatively simple and most of it is indisputable: we need more power supply than we have.  We need more reliable power supply than we have. We got caught dangerously short in the winter of 2024.  Labour, in turning off the gas, wrecked the industry and caused untold damage.  The Huntly coal deal is part of the solution.  An LNG importation facility is another part. We need a power supply tap because hydro, wind, and solar isn't it. Even if it's the bulk of supply, it's reliant on things we can't control.  So far so good, we all agree.  The cost of LNG is a billion-ish. Someone has to pay. The Government could pay by borrowing more but, wisely, they choose not to.  The industry could pay through a levy. That is what we have chosen.  Will they pass it on? Yes, why wouldn’t they?  Do you like that? No, why would you?  But at all times we come back to the basic issue: do you want heating in winter, every winter, like a first world country?  Do you want business to be able to operate at full capacity like a first world country?  So it isn't a tax. A tax is a forced payment by Government, that’s not what this is.  It's an increased power bill to eventually get a power bill that wouldn’t have been as high if we hadn't built a back stop for supply.  It's the cost of rectifying an embarrassing wrong. You might want to remember that when you vote.  Fixing broken stuff costs money. It's human to want others to pay for stuff but that’s not how life works.  If you want a spot price of $800 in the dead of winter, the highest price in the world, then doing nothing will work well.  We need more emphasis on the future, and on improvement, and less on the petty and the political point-scoring.  I wouldn’t have thought any of that is complicated.  You might not be thrilled, but it's not complicated. See omnystudio.com/listener for privacy information.

Grammy winning country pop star Maren Morris has made her way to New Zealand as a headlining act.   After starting at just 15 years old, her 20 year career has seen her break boundaries, win numerous awards, and producing multiplatinum and gold certified music.   Morris is a few shows into her ‘Dreamsicle’ tour, having performed in Australia and Auckland, with one more show in Christchurch before she hops over to the States.   She told Mike Hosking headlining her own tour has been incredible.   “We’ve only done a handful of shows, but the crowds are so energetic, and they’re also a listening crowd,” Morris explained.  “They really want to hear the stories behind the songs and how they were written ... it’s a great balance of like, y’know, they want to hear the backstories, but they’re also having fun and dancing.”  “It’s a perfect crowd.”  Morris’ career started early, but that doesn’t mean her success came early as well, which she says made the transition easier to handle.   “Nothing of my career has happened overnight, or has been like, too quick to digest.”  “The saying in Nashville is that it’s a ten-year town, so it takes ten years for most of the successful people to even have a song or album that resonates,” Morris told Hosking.   “I think there’s obviously with any big success, there is a dose of timing and luck, all of those things.”  “You just have to keep going and keep your eye on the target because it is ever moving.”  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Signs of growing positivity from New Zealand's small and medium sized businesses.   A new report from MYOB reveals that 33% of SMEs polled have more work or sales lined up for the first quarter than usual, and a further 40% say they have the amount they’d normally expect.  The green shoots are showing up in sectors that have struggled of late, including manufacturers, retail, and construction.  ABC Business Sales CEO Chris Small told Mike Hosking the vibe is incredibly positive, especially in comparison to the last two years.  He says that this time last year they had high volumes of business owners saying their earnings were down and they weren’t going to take their business to market, but now those business owners are reporting strong previous quarters.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

On the Mike Hosking Breakfast Full Show Podcast for Thursday 12th of February, the Government has announced an independent review into the monetary policy during Covid – practical or political during an election year?  The All Whites have secured a game against England just before the World Cup – their highest-profile game in decades.  And country-pop singer Maren Morris is in the country and joined for a chat about her career, from starting a 15-years-old to winning a Grammy.  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.

The All Whites have locked in a fixture with fourth-ranked England in Florida as part of their World Cup football preparations.  The match will be held on June 7, New Zealand time, at an as yet unconfirmed venue.  New Zealand Football boss Andrew Pragnell told Mike Hosking they've earned the fixture.  He says every team is looking for fixes ahead of those critical world cup games, but over the last few years the All Whites have been attracting stronger and stronger opposition from around the world.  It's the highest ranked opponent the All Whites have secured in 17 years, and the first time they've played England since 1991.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Finance Minister's rejecting an accusation it's using Covid as an election tactic.   Nicola Willis announced an independent review this year of the monetary policy the Reserve Bank delivered during the pandemic.  It'll be released just weeks before the election, and Labour's Chris Hipkins claims the Government's aiming to revive pandemic conspiracies.  Willis told Mike Hosking she suspects it wouldn’t have mattered what the timing is, the reaction would’ve been the same – their political opponents saying they shouldn’t be asking these questions.   But she says when the Reserve Bank did its own review, the results showed there hasn’t been enough examination into their decisions.   The Finance Minister is also insisting she's keeping an eye on the banking space as ASB reports higher margins.   The bank saw modest growth in the second half of last year, reporting a net profit of $765 million.   Its net interest margins ticked up six basis points to 2.35%.   Willis says told Hosking more people are already looking for better banking deals, and she's working to improve competition.   She says she's comparing our regime internationally, especially with the banks' Australian counterparts, and looking at whether we're getting our settings right.   LISTEN ABOVE See omnystudio.com/listener for privacy information.

An argument for dropping beer excise tax here so businesses stay afloat.   Australia's Government is stopping further tax increases landing on beer poured in venues from kegs.  Meanwhile, excise tax continues to rise automatically in New Zealand every year.  Brewers Association executive director Dylan Firth told Mike Hosking fewer people are going to the pub because the tax is driving up the cost of a pint.  He says if hospitality businesses have their own keg rate, venues wouldn't have to push their margins as much to stay open, and people won't lose those socialised spaces.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

New Zealand's ability to cope in the current geopolitical landscape is set to be the hot topic at the Economics Forum this week.   Leading economists, business leaders, and public sector officials are gathering at Waikato University's Management School to talk economic priorities, challenges, and opportunities.   Former Finance Minister Steven Joyce told Mike Hosking they'll discuss the benefits of MMP and the influence of big players like the US.   He says they'll explore how the modern political world encourages nations to think tribally, and how social media is influencing people to think this way.  LISTEN ABOVE See omnystudio.com/listener for privacy information.