The Mike Hosking Breakfast

Ukraine and the US are signalling they're nearing a proposal to end the war as Russia maintains its uncompromising position.  Ukrainian and US officials have negotiated details of a proposed 28-point peace plan in Switzerland.  A US official's told reporters Ukraine has agreed to a peace deal, but there were still some minor details to be sorted out.  US Correspondent Richard Arnold told Mike Hosking it appears several key issues have still been set aside, including the new territorial boundaries, the size of an ongoing Ukrainian military, and the proposed ban on NATO troops inside Ukraine.   LISTEN ABOVE See omnystudio.com/listener for privacy information.

On the Mike Hosking Breakfast Full Show Podcast for Wednesday the 26th of November, RMA Reform Minister Chris Bishop explains why they want to scrap regional councils.   Estonia has the highest education results in Europe, and now their Education Minister is in New Zealand to check out how our reforms are panning out.   Mark Mitchell and Ginny Andersen cover off Michael Wood, regional councils, Greg O'Connor and Craig Rennie 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.

Today on Politics Wednesday Mark Mitchell and Ginny Andersen delve into the proposal to scrap regional councils, replacing them with boards made up of local Mayors.  They also cover off Labour's seat selections, with MP Greg O’Connor missing out on the selection for a new seat, and former Labour MP Michael Wood's move to re-enter politics.  LISTEN ABOVESee omnystudio.com/listener for privacy information.

Thousands of cases of amputation and vision loss could be prevented thanks to diabetes monitoring technology.  Continuous Glucose Monitors, or CGMs, have been funded for Type 1 diabetes since last October.  New data from CGM producer Dexcom finds lifetime use of the devices could prevent up to 70 thousand diabetes-related complications and save the country $50 thousand a day.  Diabetes New Zealand Chief Executive Heather Verry told Mike Hosking funding should be expanded to all diabetes patients.  She says Pharmac is only funding for Type 1, and at $200 a month, these devices are unaffordable for everyone else.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

European nations are eyeing New Zealand’s education overhaul as a model for their own reforms.  Education Minister Erica Stanford's implemented new curriculums, scrapped NCEA, increased learning support funding and put a sharper focus on teaching the basics this year.  Estonia’s Education Minister Kristina Kallas is here meeting Stanford, and says her country and others are considering similar changes after drops in achievement.  She told Mike Hosking New Zealand's direction is the right one.  Kallas says basic skills are needed to develop critical and analytical thinking.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Reserve Bank's set to slash the Official Cash rate today but the big question is whether today's cut will be the last.  The final OCR decision of the year is set down for 2pm.  Most economists expect the cash rate to be cut 25 basis points – from 2.5% to 2.25%.  Kiwibank Chief Economist Jarrod Kerr told Mike Hosking the main message seems to be that we’re getting pretty close to the bottom.  He says interest rates are at stimulatory levels and they’re looking to see if that will entice some investment.   LISTEN ABOVE See omnystudio.com/listener for privacy information.

Red tape continues to tie up New Zealand's agriculture and horticultural sectors.  Animal and Plant Health NZ's annual survey finds nearly half its members feel regulatory performance has worsened, despite recommendations put forward by the Ministry for Regulation earlier this year.  Chief executive Liz Shackleton told Mike Hosking despite reassurance from regulators, the day-to-day process is not getting easier.  She says farmers and growers face a raft of challenges and don't have the right tools for the job.  She says it's a real handbrake on economic growth, and we're missing out on better environmental outcomes.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

RMA Reform Minister Chris Bishop says regional councils add layers of confusion, as he looks to scrap them.  Consultation's open on the proposal which would see the councils abolished and replaced with boards made up of local Mayors.  Boards would be required to put plans in place around re-organising services and infrastructure, which will be checked over and ticked off for financial sustainability.  Chris Bishop told Mike Hosking there's enormous levels of complexity which people don't understand.  He says in Wellington for example, the regional council runs the buses, but the city councils decide the road closures and where the bus stops are.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Regular listeners will be aware of my ongoing angst over banks and whether or not they are legit players in our marketplace.  The Reserve Bank this week, in one final stab this year, will most likely cut the cash rate, again, which will leave it at 2.25%.  The Co-operative Bank last week claimed they are the only ones who have fully passed on the cash rate cuts so far.  In fact, as of the current cash rate at 2.5%, they have cut their floating rate to 3.1% against the cash rate fall of 3%.  Now on the surface, if their claim is correct, that would back up the broad-based argument that retail banks are creaming it, and things need to be done about it.  Certainly, the banks margins remain high and as of a couple of weeks ago those who reported, reported their margins expanding.  Now the counter to all that is the Co-operative Bank themselves. If what they say is correct, good on them. But what does that prove?  It proves there is competition. It proves that the market is dynamic and it proves that if you see their claim and think to yourself "hold on, how come I don’t have a deal that good?" you can in fact, and have always been able to, change banks.  So in offering the insight inferring a lack of competitive behaviour, do they not to a degree shoot themselves in the foot?  Further, I think it's fair to suggest that in reference to the floating rate not many people, generally, are on the floating rate. And even if you have a few at the moment waiting to lock up when a final cut comes, the overarching theme of New Zealand lending is one of fixed rates.  So perhaps a better example would be what the competition is like around the part of the market that is most used and therefore most competitive.  So you can see my dilemma, my ongoing issue. I can find you examples of banks behaving if not badly, at least suspiciously, thus giving weight to those who argue oligopolies.  But I can find examples of good, clean, open competition where deals are to be done.  So once again there's the simple question with seemingly no solid answer.  Who is right? See omnystudio.com/listener for privacy information.

Counter-proposals to the US-peace plan for Russia's invasion of Ukraine are emerging as European, US, and Ukrainian officials hash out discussions in Switzerland.  Russia's backing the 28-point plan that'd include Ukraine ceding territory and ditching efforts to join NATO.  European leaders have criticised the plan, which is widely considered favourable to Russia.  France Correspondent Catherine Field told Mike Hosking that now that Europe is footing most of the bill for Ukraine, it actually has a stronger voice in the negotiations.   She says they’re telling everyone to calm down and return to the drawing board, as everyone knows Russia won’t agree to the adjusted 19 point plan.   LISTEN ABOVE See omnystudio.com/listener for privacy information.