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A continuing squeeze on natural-gas supply, with little hope for a quick solution.
Production fell 20% in the first quarter, compared on the year before, to 22.85 petajoules.
Industry spokespeople say available gas is depleting and exploration of new fields is banned.
Echelon Resources CEO Andrew Jefferies told Mike Hosking we're not going to get more gas without looking for it.
He says gas provides nearly the same amount of energy electricity does, so people can't do without it.
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Donald Trump says the tone and spirit of this morning's conversation with Russian's President Vladimir Putin were excellent.
This comes following a two-hour call between the two leaders, with Trump now saying Ukraine and Russia will immediately start working towards a ceasefire.
He's reportedly also wrapped up a call with Ukrainian President Volodymyr Zelenskyy.
Kyiv-based Foreign Policy and Security Analyst Jimmy Rushton told Mike Hosking Putin has Trump right where he wants him, and he's clearly being manipulated and worked by Putin.
He says Trump and his Secretary of State Marco Rubio, are simply making things up as they go along.
He says they keep talking to Putin about this 'destructive war', but he doesn't care, even about the lives of his own people.
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Fehlende Folgen?
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A former Speaker of the House has been worried Parliament's standards have been slipping over the past few years.
It comes as the Privileges Committee report on Te Pati Māori's behaviour during last year's Treaty Principles Bill vote, will be debated and voted on this afternoon.
It proposes a 21-day suspension for the party's leaders, and a seven-day suspension for MP Hana-Rawhiti Maipi-Clarke.
Former Speaker Sir Lockwood Smith told Mike Hosking a decision to close the public gallery is wise.
He says this will be a test for Speaker Gerry Brownlee because his judgement will be critical.
Smith says it’s up to him to make sure this debate, which will be watched by many, shows Parliament to be a better place than it’s been in the last couple of weeks.
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The Transport Minister says maintenance to keep the country's railways working is long overdue.
Chris Bishop, alongside Rail Minister Winston Peters, announced $461 million for the rail freight network, and an additional $143 million for Auckland and Wellington's metropolitan trains.
It's ahead of this week's Budget announcement.
Bishop told Mike Hosking more will be needed in the future to keep Auckland and Wellington's trains running.
He says successive governments have neglected rail maintenance.
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There's frustration over the Government's lack of pace in changes to encourage foreign investment.
It's set aside $65 million over four years to loosen the capitalisation rules for investors.
The change will allow foreign-owned companies to fund a bigger chunk of their investments in New Zealand through tax deductible debt.
Queen City Law managing director Marcus Beveridge says told Mike Hosking the Government's still trying to get rid of roadblocks.
He says it's underwhelming to be a year and a half through an election cycle and to still be tweaking things in this space.
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OneRoof had a story over the weekend about an apartment in Auckland that is for sale for $17 million.
It was for sale for $16 million, so they have put the price up despite the fact it has been for sale for several years.
They are looking to the international market where $17 million is not a lot of money.
The article also featured information about a Knight Frank Wealth report that ranked the priorities of those with money and real estate investment was right up there, as well as, for the super wealthy, the ability to have a super yacht park featured highly as well.
The point being, in Auckland your $17 million penthouse can be a few hundred metres away from your super yacht. Yet, in this country foreigners can't do that because they aren't allowed to buy a house.
What they are allowed to do is get a golden visa and the new rules have proved popular. There is good inquiry. For $5-10 million you invest in a business, you employ, you grow, you help us out and, yet, you still can't buy a house.
The fact the apartment has been on the market for years clearly shows no locals want it, or can afford it.
So the fear, as proffered by some, that foreigners take houses off New Zealanders at this level clearly isn't true.
The Government, or parts of it, want to fix this anomaly and yet they can't, or don’t, because NZ First refuses.
Rumours a while back suggested a compromise had been reached. National had an election policy of $2 million as a protection on lower priced houses. The rumour was a figure of $5-6 million had been reached with NZ First but it never came to fruition.
So in Budget week, when yet again the dire state of our finances is laid bare and a commentary around growth will be pushed hard, one of the answers of the wealthy having money to invest, has not been fully enacted because one part in this Government is xenophobic.
This battle to regain our economic mojo is hard enough as it is without ankle-tapping ourselves by refusing to enact blatantly obvious ideas.
If we can't pull every lever possible we have no one to blame but ourselves.
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Australian Prime Minister Anthony Albanese attended the pope’s inauguration in Rome over the weekend.
While there, he met with Ukrainian President Zelenskyy to discuss donating military tanks to the country.
Australia has donated $1.5 billion in support of Ukraine.
Australian Correspondent Steve Price talks to Mike Hosking about the meeting between the leaders, Victoria’s budget, the F1 and more.
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Listen to the Mike Hosking Breakfast Full Show Podcast for Monday 19 May.
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The Prime Minister says his Government is calling out bureaucrats falling foul of the government's expecations.
It comes off the back of Winston Peters expressing his criticism of Māori targeted hires, after a government job was advertised as a “tikanga lead” to promote Māori customs, principles and values in the Māori policing unit.
Luxon discusses whether the reason NZ First is seeking changes to the regulatory standards bill is because they have problems internally.
The Government is officially announcing its budget on Thursday, after a series of pre-budgets announcements have been made, including multi-million-dollar funding to the film industry and urgent care facilities across the country.
Mike Hosking questions where the money’s coming from.
Prime Minster Christopher Luxon and Mike Hosking talk all this and more.
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It's good news for the manufacturing sector.
Business BNZ performance of manufacturing index shows an upward of 0.7 points.
JMI Wealth Spokesperson Andrew Kelleher says it's a strong indicator that recovery is underway for manufacturing.
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There are changes to the way New Zealanders are getting educated, with distance learning increasing.
Correspondence schooling has seen a 32 percent rise in enrolment since 2018.
Crimson Global Academy CEO Penelope Burton talks tells Mike Hosking social anxiety is a contributor, while others aren't finding in-person schooling challenging enough.
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The rural community of members bill is looking to adjust the rules around KiwiSaver so that it can be used to buy a farm.
The change would also allow defence force personnel to get access to a first home.
National MP for Rangitīkei Suze Redmayne talks to Mike Hosking about the proposed changes.
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Rules are being relaxed around borrowers using flatmates to pay their mortgage.
Previously, borrowers would need signed documentation from a flatmate contributing to the cost, but now a declaration of intent is all that’s needed.
Opes Partners Resident Economist Ed McKnight talks to Mike Hosking about what this means.
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The Government’s announced $164 million will be spent on five new 24/7 urgent cares across the country.
Rural areas will have round the clock, on call support.
It means 98 percent of Kiwis will be within an hour from the nearest urgent care.
Chief Executive of Rural Healthcare Network Dr Grant Davidson talks to Mike Hosking about the investment.
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US President Donald Trump is facing strong opposition from members of his own party, after they blocked the advancement of the President's budget bill.
Nicknamed the 'big beautiful bill' by Trump, the bill seeks to lock into place tax cuts which mostly benefit wealthy American's, while also calling for no taxes on tips.
To pay for the tax cuts the Government would need to cut medical aid, food for the poor and clean energy initiatives.
US Correspondent Richard Arnold talks to Mike Hosking about the bill and a terrorist attack in Palm Springs.
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Welcome back Tony Blair.
A new report he is a part of sees him joining the growing list who argue that Net Zero is doomed.
Net Zero will be doomed whether we do anything about it. No one is going to jail if they don’t reach Net Zero.
It's just that we can avoid a lot of needless damage along the way by recognising it early and bailing, so our economies can be put back on some sort of level footing.
Ironically, there is growing anger in Spain over this week's power blackout, with a lot of people blaming the renewable aspect of their supply chain. Spain is over 50% renewable, which is high for Europe.
The people's argument being the higher the reliance on renewables the more fragile your grid is.
Back here farmers are furious, once again, over the new settings for the ETS. We have gone from 50% to 51% reductions, only because Paris says each year you need to adjust up.
So they adjusted the least they could. But they still acquiesced to what was signed up years ago when Net Zero was a bullish theory, not an economy sapping reality.
The Climate Change Commission the other day put new targets for credits and pricing on the carbon auctions. They were completely different to last years, in a "we make it up because we don’t know what's going on" kind of way.
We have stumbled and bumbled our way through all of this, hurting our living standards. And to what end?
Emissions are in fact down for New Zealand. Yay us.
Is the world any better? No.
Which is why Blair joins Kemi Badenoch in calling it all out. The Reform Party are booming, in no small part because they have called it all nonsense.
So between Blair, Farage and Badenoch that’s a lot of cross-political support to tip up an increasingly obvious dead-end idea.
Like 'Me Too' and the cancel culture and all the other bandwagons that got fashionable, Net Zero is destined for the same end.
Not that helping the planet isn't good or laudable. But what we didn’t understand then, but clearly do now, is at what price?
And are we prepared to pay it?
Given the answer is no, a few more Blair, Badenoch, Farage-type voices here wouldn’t go amiss.
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I asked Judith Collins yesterday, just what has become of us?
The “us” I was referring to is this country. But I amended that in my mind yesterday afternoon when I read the first review of Jake Tapper's book on Joe Biden.
What's become of all of us, is now the question.
"Biden didn’t recognise George Clooney at a fundraiser", was your headline.
Tapper is making money out of a book on a subject he should have been all over four years ago, but wasn’t. Most of the American media in particular weren't.
They knew Biden was what he was, but it didn’t seem to matter then. But now that they can make a buck, it’s a story.
This was raised at the White House correspondents dinner, so it's not like they aren't aware of how this looks.
Jacinda Ardern falls into the same category – destroy the country, run away to Boston, write a book and collect the money.
It's shocking.
Jannik Sinner, the tennis player in name, and act. He meets the Pope, having cut a deal with the doping authorities not to miss any majors and return to his home tournament a hero.
And the daddy of them all is the current American President. He offers White House tours and a dinner if you buy his crypto.
How is this possible?
He tells you "it’s a good time to buy" before he makes an announcement that he knows will move the markets. No one is seemingly doing anything about it.
He is about to collect a plane for God's sake! That is quite obviously illegal, and yet, who is it that is going to do something about it?
Winston Peters had his head in his hands when Brooke let the big word fly, and he lamented the lack of standards.
All around us are seemingly new norms.
There are more and more indicators that what was once the right way to go about business now doesn’t matter.
Punishments that once addressed indiscretions are now laughed at or negotiated away.
Moral fibre that kept you on the straight and narrow is not just gone, but jettisoned and replaced by contempt and arrogance.
If the President of America can bribe your crypto purchases, while flying on an illegal plane, former leaders can profit from negligence, and the Fourth Estate can pretend to be unbiased while ignoring the news and then cash in on their ineptitude, is it any wonder more and more of us long for the good old days?
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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.
Trump: 7/10
It’s a circus most of the time, but what a watch. Turkey, Riyadh, free planes, mad sucking up, the Village People, trade, and the markets. Just another week.
Brooke van Velden: 8/10
Because she took her moment and ran with it, and quite possibly turned the dial her way.
Smoked salmon: 7/10
Revelation and story of the week. Letters from all over the world and a mad insight into eye-watering prices.
The police: 4/10
They promised 500 and they aren't going to deliver. That’s a loss.
Ryan Fox: 8/10
Living your dream is not only wonderful when it's you, but equally wonderful to watch.
The unions and their work from home claims: 3/10
Wouldn’t it be amazing if, just for once, they actually looked like they might like work and productivity and dedication and getting ahead, instead of their incessant misery?
Auckland FC: 9/10
The other part of the season starts this weekend. Whatever way you slice it, it's the sports story of the year domestically.
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Soaring food prices might be hard to swallow.
Stats NZ figures reveal prices rose 3.7% annually last month, with increases across all food categories.
Butter prices increased 65.3%, milk and cheese went up 15.1% and 24% respectively.
Foodstuffs North Island CEO Chris Quin told Mike Hosking there's pressure on products we're getting export success from.
He says it's a fantastic part of the story, but the impact on consumer is clear.
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Half-year profit has more than doubled for New Zealand seafood company Sanford.
It's the best result in a decade for the company, which took home $34 million in profit in the six months to March this year.
It's seen improved salmon sales, especially in the US and China.
Managing Director David Mair told Mike Hosking he's been there for just over a year and has been working to increase productivity.
He says he's reviewing every process within the business and says it's important that if a company tries to add value, it doesn't exceed the added cost.
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