Episodios
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In a world of pressing problems one of the bigger, longer term ones is due a good looking at because if we donât, when we get there we will want to shoot ourselves.
IRD has been looking at the cost of stuff and where that money comes from.
The trouble, and this is not new, is we have more older people needing more money and fewer younger people to work to raise the money to pay the bills.
This is more than Super. It's health.
It's pretty much everything.
Currently 16% of the population is over 65-years-old. By 2060 it will be a quarter.
The IRD conclusion is that people will likely have to pay more tax.
Really? Is that it?
Well, no.
Somewhere in the advice they mutter something like "we could always cut costs". Bingo! Give those people a prize.
And why that idea is not top of the pile of ideas, I donât know.
Because here is what I do know.
Most of the money to pay for all this comes from you and me. Personal tax is over 50% of Government income, its 52%.
Companies pay 17%. GST is 25%. A lot of GST is us as well.
In fact our top tax rate is 39cents. Add GST on to that you are at 54%. Add the bits and pieces on top - the ACC, the road user charges - and top income earners will be parting with 56-57% of everything they earn.
And the IRD advice is we will need more please.
So how much more? And at what point does it become ruinous? At what point do the young, bright things move offshore? The ones of course that haven't already.
So let's take stock.
We are highly taxed. Remember at the other end we have no tax free component in income. We are a low wage economy. We have a massive savings issue with KiwiSaver at an average of $30,000-ish and a fiscal cliff in a bunch of years where the main idea is we will bleed you some more.
Spot the red flag. So, what to do? And how urgently do we do it?
Ideas please.
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On the Mike Hosking Breakfast Full Show Podcast for Monday the 30th of June, we've got some good retail crime changes coming to a store near you and the Government's Retail Crime Advisory Group spokesperson Sunny Kaushal is on the show.
The Prime Minister has some questions to answer around Whanau Ora, Section 127b and NATO spending.
Andrew Saville and Jason Pine talk Liam Lawson's best ever F1 result, the Warriors' loss and how the All Blacks will go in their first test against France.
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The Prime Minister is introducing new laws focused on protecting first responders and prison officers.
Luxon told Mike Hosking that no ambulance driver, firefighter or police officer should face aggression and assault while trying to help people.
Also in discussion is the new IKEA store, which has faced trouble during the planning phase.
Luxon said that he has more concerns about the planning than IKEA do, and blames the struggles on âMÄorificationâ.
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The deadline for rental properties to meet the Healthy Homes deadline is less than 24 hours away, and some properties are still not up to scratch.
Betta Group CEO Matt Mason told Mike Hosking that although many proactive landlords have made the required changes, some have left it to the last minute.
He says audits will be carried out and fines will be issued in the coming months to help enforce these regulation changes.
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Paramedics are giving the Government a thumbs up, as it moves to crack down on assaults towards first responders and prison officers.
It's proposing higher penalties, with five years maximum imprisonment for assault with intent to injure, and a seven year maximum for injuring with intent.
St John Ambulance Operations Manager Stu Cockburn told Mike Hosking this is a step in the right direction.
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There's excitement over expected changes to the way authorities deal with retail crime.
Newstalk ZB understands Justice Minister Paul Goldsmith will be confirming shoplifting policy changes this week, relating to Retail Crime Ministerial Advisory Group recommendations.
Group Chair Sunny Kaushal told Mike Hosking that the announcements are ones retailers across the country have been screaming out for.
Kaushal says offenders believe police won't respond and the courts will let them go, so they're working to stop this sense of impunity.
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The One Roof Velocity house value index has revealed a drop in property value across the country.
Major cities like Auckland, Wellington and Hamilton have all experienced drops. However, more rural areas such as Southland, Canterbury and Northland have all seen a rise.
CEO of real estate at Velocity Helen OâSullivan told Mike Hosking that although the prices have dropped, the real estate market is still healthy.
She said âVolumes are a key indicator, and weâre seeing those pick upâ
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A friend of ours opened a new business last week.
It was a soft opening and will be full steam ahead by the school holidays.
So far he is going gangbusters. There's a lot of local support and it looks like a good news story.
He is however, if you believe the headlines that have been supplied by his industry association, in very dark and difficult days.
They donât look difficult at his place.
The GDP figures came out as we were away on the long weekend - up 0.8% for Q1.
The Reserve Bank thought it would be 0.4%. Most banks thought it would be 0.7%. The reality was better than everyone thought.
Nick Tuffley, the ASB's head man on economics, also on Thursday told us he still had growth in the second quarter just gone, April, May and June. He had us 0.3-0.4% up.
Other commentary last week from manufacturing and services said we had hit a brick wall. If Nick is right there is no brick wall, the same way Q1 was not 0.4%, it was 0.8%.
The point is this: is it possible we are in such a funk we donât want to see reality?
You know what else I read? Australia, the repository of so many disillusioned New Zealanders, is now losing more people than it has since Covid. A mass exodus is on.
People are bailing out of Australia, healthcare is chronically bad, you can't get seen, the Government is sinking in debt, house prices have spiked past an average of a million everywhere, there are more people than ever since records began and people are working multiple jobs just to make ends meet.
This is Australia, the golden answer for the miserable Kiwi looking for better.
Maybe better is here? Maybe in a turbulent, troubled world the Land of the Long White Cloud is actually coming right and people like our mate and his new business sees it.
And a lot of what's in front of us is attitude. Is there trouble in some areas? Yes.
Are there issues still unresolved? Yes.
But do we have growth and prospect? Yes.
Do the numbers back that up? Indeed they do!
Maybe the grass is in fact nice and just as green here. You just got to want to see it.
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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
All in all, 5% defence spending at NATO, a ceasefire that holds, and talks with Iran next week. It's not bad.
Rob Penney: 8/10
From last year to this. That's one of sports great stories, and I assume involves tremendous amounts of well-deserved satisfaction.
Whanau Ora and Tama Iti and Moana Pasifika: 2/10
Central Government yet again missing the politically triggering stuff they promised to address.
David Seymour: 7/10
As Acting Prime Minister in the house and in media, he is a very solid, considered set of hands with good wit to go with it.
Golden visas: 8/10
That is practical thinking, making tangible difference. 189 applications and $800million worth of business - let's go NZ!
Wealth and the pension: 2/10
Bum note of the week. Targeting those who actually worked hard to save to help in retirement should never be used as a punishment. And the Retirement Commissioner might like to ask herself whether she understands her job.
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We've got more ageism, this time in education.
Unions are "concerned" as more teachers work past retirement age.
This in part is the trouble with unions.
1) They aren't keen on work to start with,
2) They are bogged down in old fashioned rules and views of the world.
What is retirement and how do you know you are past it?
They refer of course to Super and this tired, old business of thinking that when Super kicks in you must check out.
Obviously, the world has changed and is changing, just not that quickly in union land.
At 64-years-old if you're loving teaching, somehow chronologically at 65-years-old that desire and love of pursuit needs to be shelved, as you wander off collecting your retirement income and presumably filling your days with bowls and walks.
8000 people teaching are 65-years-old or over. Thatâs double what it used to be 10 years ago.
But then a lot is different to what it was 10 years ago.
Beyond the numbers, does anyone ask any questions?
Like, are they doing it because they have to, as opposed to want to? Bit of a difference I would have thought.
Most importantly for teaching, given the unions insist on the mad-cap business of time in the classroom being the measure for income, are these oldies any good?
Could they be better given their experience and institutional knowledge than the 21-year-old just into the classroom and looking for all the world out of her depth?
In sex education in 6th form at Linwood High in the late 1980's, we were 16 and 17-years-old and the teacher might have been 20-years-old. She looked like she wanted to die as the diagrams of the you-know-what's came out.
As you can tell the memory is seared in my mind 40 years later.
New isn't always best. Young doesnât always trump older and passion and skill above all else is what should drive presence in the workplace or classroom.
Are you good? Do you like what you do? Are you making a difference?
If the answer is yes, then at what point would you be remotely interested in age, far less be concerned?
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The week has come to an end and so Kate Hawkesby and Tim Wilson are joining Mike Hosking to Wrap the Week once more.
Tim is injured again, winding up on ACC after taking a tumble off the footpath, plus, Mike's made a new musical discovery.
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The Treaty Negotiations Minister admits people are losing patience on a NgÄpuhi settlement, but says they want it to last.
New Zealand First is launching a Bill, proposing a one-and-done treaty settlement for the largest iwi, rather than multiple hapu settlements.
Paul Goldsmith says that although he sympathises with the desire for a faster resolution, if you want an enduring settlement, you need people to be prepared to settle.
He told Mike Hosking that the settlement has to have the support of around 200,000 to 300,000 people, which has been the challenge in the past.
Goldsmith says that they have a good plan now, and theyâre making good progress on the work thatâs currently underway.
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The Education Minister is hitting back against claims sheâs trying to entrench co-governance into education.
Hobsonâs Pledge is claiming that the Education and Training Amendment Bill No.2 includes a section, put there by Stanford, that will force every school board to reflect âlocal tikanga MÄori, mÄtauranga MÄori, and te ao MÄoriâ in their policies, plans, and classroom teaching.
Erica Stanford refutes these claims, saying that 127 was an already existing Treaty clause.
She told Mike Hosking that section is not the only clause in the Education Act to reference the Treaty, which is why there needs to be a proper review into whether or not they need to be there.
Standford says there are legitimate questions to be answered, which is why theyâre looking into the act, but she did not add them in herself.
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On the Mike Hosking Breakfast Full Show Podcast for Friday 27th of June, it's accountability Friday! Paul Goldsmith, Tama Potaka, and Erica Stanford have questions to answer about scandals, non-scandals, and accusations.
After the unfortunate passing of Takutai Tarsh Kemp, what is the process going forward in filling her seat?
Tim and Katie talk Tim's latest injury and Mike's best musical discovery of the week as they Wrap the Week.
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A vast change to what's been promised for Auckland City Rail Link's opening capacity.
In 2022, it was reported 27 thousand peak passengers would be using the rail line from opening day next year.
That's now gone down to 19 thousand passengers an hour at peak times.
AT Public Transport Director Stacey van der Putten told Mike Hosking the 27 thousand figure merged a few different elements including design capacity, timetabling, and patronage.
She points out that 19,000 is still a significant increase on current numbers, as itâs still a 50% increase in patronage.
Van der Putten told Hosking it will take some effort to rebuild confidence in the rail network after the prolonged disruption, but thereâs plenty of enthusiasm for the new line.
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A lot of interest is expected in the by-election to fill the seat left empty by the death of Takutai Tarsh Kemp.
The 50-year-old Te PÄti MÄori MP died yesterday.
Otago University law expert Andrew Geddis told Mike Hosking the Tamaki Makaurau seat was won by just 42 votes in 2023 and will be very tightly contested again.
The complicating factor this time is likely to be sympathy, he says, suspecting that Te PÄti MÄori will likely run strongly on a kind of legacy argument.
The by-election could clash with local body elections.
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Concerns are being raised around the use of taxpayer money to fund Moana Pasifika.
Our newsroom's revealed the Super Rugby franchise received some $8 million in taxpayer loans, grants, and funding.
The Pasifika Medical Association âwhich took over ownership of the team last yearâ has received funding from WhÄnau Ora contracts.
MÄori Development Minister Tama Potaka told Mike Hosking there's some uncertainty about how that WhÄnau Ora money was spent.
He wants to know it's being used for proper purpose and has asked for an explanation ASAP.
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Note: This story has been updated to clarify that Whanau Ora funds flowed to the Moana Pasifika Charitable Trust, and the current owner of the Trust and the team, Pasifika Medical Association, has emphasised that no WhÄnau Ora funds have been used to fund the Moana Pasifika professional rugby team. The Herald has removed from the story the contention that WhÄnau Ora funds were directly used for the professional team in the fiscal years 22/23 and 23/24.
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From the "we can't get out of our own way" file comes the question, as posed this week by the Retirement Commissioner, as to whether people who have money in the bank should get the pension.
The first part that is wrong with that is I thought we had decided many a decade ago, rightly or wrongly, that Super is an entitlement.
Its trigger, rightly or wrongly, is age, therefore the other criteria you might like to add to the equation like height, weight, job, brain power or savings, are null and void because age is what does it.
So are we changing that, are we? Because that is the inference in the question.
The inference is also this sneering socialist bend some people have around success.
"Donât be too successful" is the message, and thatâs what savings generally are. You had a plan, you worked hard, and you put a few dollars aside.
Interestingly the numbers are depressing. This is where the question came from.
There are 33,000 over the age of 65 who earn between $100-200k a year. There are 9,000 who earn more than $200k.
Thatâs not a lot of people. It shows you how poorly paid we are, how bad at saving we are and how expensive life is to stop you saving. A whole bunch of stuff leads us to not being a very well-off sort of country.
I have said this many times â I'm not fussed. I didnât join KiwiSaver and I'm not relying on a pension.
Why? Because when I started work in 1982 it was very well established that the pension may or may not be around at all, so why take the risk? And in 1982, on the minimum wage as I was, I had 45 years to get my act together and do something about it.
The problem with keeping on asking these questions is it messes with people and their intentions.
Governments have been bad enough already with their constant changing of the rules and their contributions, the last thing we need is thought bubbles on what should be a long term, leave it alone, get out of the way, understanding among us all that the pension is our society's recognition of a life's work.
Change the age if you want. But penalising success is the opposite of what we want to promote.
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New Zealand has taken home the Gold at the Oscars for wines.
Craggy Rangeâs Martinborough Pinot Noir took home Best in Show at this yearâs Decanter World Wine Awards.
This makes it in the 0.3% of all wines in the world.
Chief Winemaker at Craggy Range Ben Tombs told Mike Hosking they knew there was something pretty special coming out of the 2024 vintage.
He says it shows the kind of provenance unique to Martinborough, and winning the award is an incredibly achievement.
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When you hear the name âJames Mayâ, itâs likely you think of cars, Top Gear, and The Grand Tour, but much like his co-stars, May has plenty of other projects.
He owns his own pub and gin line, and has done countless shows visiting other countries, rebuilding toys and machines, and exploring lifeâs questions.
Mayâs now onto his next journey â a live theatre performance that brings the stories of explorers to the stage.
Itâs called âExplorers: The Age of Discoveryâ, and Mayâs bringing it to Kiwi audiences in August.
Itâs been quite a busy year for May â something he told Mike Hosking was quite unintentional.
âThis year was going to be my, what I called a âdry run at retirementâ, to see how much I liked it,â he revealed.
âBut Iâve ended up doing a live tour, a couple of TV shows, various other odds and ends â it's actually the busiest year Iâve had for probably a decade, in terms of demands on my time.â
âBut maybe thatâs a good thing,â he said. âMaybe if I was left to my own devices, Iâd sit in the garden and rot.â
Despite his vast experience in the entertainment industry, May isnât terribly experienced with live performances.
âWe used to do Top Gear Live and then Clarkson, Hammond & May Live, but there were three of us doing it, plus our stunt driving team and various other circus performers,â he explained.
âThis one is quite intimidating because it just me."
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