Mike Hosking Breakfast

Supermarkets could face huge fines if they breach the Government's new code of conduct for the sector. A cabinet paper shows supermarkets may be fined up to $10 million or three times any commercial gain they get from any breach. If that figure cannot be calculated, they may be fined up to ten percent of revenue during the breach period. Consumer NZ Chief Executive Jon Duffy told Mike Hosking says it's a good start. “It certainly sends a message to supermarkets and it is a strong deterrent not to break the code.” LISTEN ABOVE

An interesting insight this morning into the mind of us all as investors. Kiwi Wealth's annual State of the Investor Nation report is out this morning. It has found that 37 percent of us feel less wealthy than we did 12 months ago, but we also have come to accept how important some level of investing is. We have a record amount in KiwiSaver at the moment, 69 percent, and a growing number are moving their accounts to more aggressive funds showing how important we realise it is to save for retirement. Kiwi Wealth CEO Rhiannon McKinnon joined Mike Hosking. LISTEN ABOVE

There are suggestions we could be guilty of sleeping on what could be the biggest Commonwealth Games we've seen. Ticket sales are through the roof, with more than 1.2 million sold, which would make it the most attended edition of the games in 22 editions. There's also estimated to be a TV audience of one billion over the entirety of the games. Newstalk ZB sports reporter Kate Wells is in Birmingham and joined Mike Hosking to give an insight into what’s happening on the ground. LISTEN ABOVE

More signs of a slowdown in the housing market. CoreLogic is now forecasting for the cooling of the property market to continue for the rest of the year. And ANZ says a fall to house prices is becoming more likely, as higher than expected inflation forces the Reserve Bank to raise the Official Cash Rate faster than expected. Chief Economist Sharon Zollner told Mike Hosking ANZ is now forecasting the OCR will rise to a four-percent peak. “If we were to revise up our interest rates forecast again then we would look again at our house price forecast, but four is getting up there.” LISTEN ABOVE

We are into the age of testing gene editing on humans when it comes to looking into heart disease issues. Earlier this month a New Zealander was the first person to be injected with gene-editing instructions to try and modify a single part of their DNA to stop it producing bad cholesterol. It has been used on monkeys in the past, which resulted in a 70 percent reduction in cholesterol levels. Dr. Andrew Bellinger is the chief scientific and medical officer of Verve Therapeutics and he joined Mike Hosking. LISTEN ABOVE

The value of Graeme Wheeler writing the report he has on the Reserve Bank and the shambles it’s made of the economy, is it shows us and shines real light on one of life's simple but often forgotten truths. Just because you are touted as an expert doesn’t mean you actually know what you are doing. Wheeler was our Reserve Bank Governor from 2012 to 2017. He joins, by the way, Don Brash who also held the same job in calling out our current boss, Adrian Orr and his handling of the Covid era. Our bank is not alone. Lots of central banks essentially did the same thing. Depending on how mad they went, depends now on how bad the fiscal fallout for the average person now is. In our case it's pretty bad. We printed money with alacrity and the hangover has only just begun. The value of Wheeler and Brash is they are your so-called experts. They have been where Orr is, they have the credentials, they have the experience, and they have the track record. You and I can sit ther

A National front-bencher doesn't see any parallels between the Green Party's leadership saga and National's leadership to-and-fro. Greens Co-leader James Shaw is seeking re-election after getting the boot at the party's AGM over the weekend, despite there being no challenger for his position. National has faced several leadership races in recent years. But Mark Mitchell told Mike Hosking the Greens leadership situation is very different, and shows how radical some parts of the Green Party are. Senior Labour Party Cabinet Minister Megan Woods says it's a matter for the Greens to sort out among themselves. She says she's sure the Greens have their processes in place and will come out of current situation stronger than before. LISTEN ABOVE  

The Government says it’s Clean Car Rebate Scheme remains a constant work in progress. The Imported Motor Vehicle Industry Association has pulled its support with the programme, saying it isn't appropriate for its supply dynamic. But Transport Minister Michael Wood says the scheme is actually performing better than expected. He told Mike Hosking issues will continue be ironed out as they're identified. Wood says they're addressing those issues as soon as possible. LISTEN ABOVE  

An end to the Gib shortage is becoming closer by the day. Twelve importers of plasterboard now have 100 containers of product on their way to the country, including four new importers. MBIE is publishing advice on substitutions and minor variations tomorrow and will issue further technical advice and guidance next week. Naylor Love Chief Executive Rick Herd told Mike Hosking it's going to help. He says suppliers, distributors, builders, regulatory authorities and designers can have confidence about where they can find information and what they can use. LISTEN ABOVE  

A humbled Tom Walsh was overcome with emotion after he and Joelle King were honoured as New Zealand's flagbearers for the 2022 Commonwealth Games. Walsh and King were today formally announced as Ngā Pou Hapai (flagbearers) by Chef de Mission Nigel Avery at a team function held at New Zealand House in Birmingham. Walsh, a defending champion in the shot put, and King, a three-time Commonwealth Games gold medallist in squash, will lead out the Kiwi team at the opening ceremony at Alexander Stadium on Friday morning (NZT). Moments after accepting the honour in front of 250 teammates, Walsh had to pause to collect himself when describing what it meant. "It's a hard one to put into words. When I got the call from Nigel, I was a little bit shocked," said Walsh, his voice breaking. "It's not why we do it, but it's a huge honour to get asked to hold the flag and fly it for New Zealand. To be up front with Joelle is going to be awesome." Walsh was in buoyant mood when speak

Dr. Ashley Bloomfield is content with his handling of Covid-19. He's finishing up as Director General of Health tomorrow, after leading New Zealand through its response to the pandemic. In his final interview with Mike Hosking, Bloomfield says aspects of the response became highly politicised. But he says he's always tried to act independently in the decisions he's made and the advice he's given the Government. He says he can put his hand on his heart and say he served as a public servant, and in accordance with the public service values. LISTEN ABOVE

A former top executive at the Government's new mega-polytechnic says it needs a complete reset. The former Deputy Chief Executive, Merran Davis, is breaking her silence following her resignation last year. She's revealed she quit because she no longer has trust and confidence in the organisation and is calling for the board to be replaced with an independent commissioner. Davis told Mike Hosking the organisation needs to involve more people who understand the sector. She says the board's role was to appoint the right chief executive, oversee progress and manage risks, but they squandered the opportunity to do so. LISTEN ABOVE

A new certification programme has been launched for businesses this morning. Developed by the Restaurant Association, it's called HospoCred and it will reward businesses who meet certain standards in a wide range of areas. Restaurant Association CEO Marisa Bidois joined Mike Hosking. LISTEN ABOVE

There can be no doubt that UB40 has a special place in music history. Since their formation back in the late 1970s, the band has sold more than 70 million records worldwide and has had more than 50 singles in the UK charts. And of course we know the hits, Red Red Wine, I Got You Babe, and Can't Help Falling in Love. Now the band is celebrating their 45th anniversary with a new album, the official Commonwealth Games anthem, and a global tour that includes some New Zealand stops. One of the founding members, guitarist and vocalist Robin Campbell and band's new frontman Matt Doyle joined Mike Hosking. NZ Dates: Thursday December 29 - Church Road winery - Napier w/ Jefferson Starship, Dragon Friday December 30 - bowl of Brooklands - New Plymouth w/ Jefferson Starship, Dragon Monday January 2 - Matakana Country Park - Matakana w/ Jefferson Starship, Dragon Wednesday January 4 - Wharepai Domain - Tauranga w/ Jefferson Starship, Dragon Friday January 6  - Trafal

Hold the front page, the Government has done something eminently sensible. The changes to the investment visas make some real sense. Buying your way into a country without a proper contribution is an invite to simply have money parked and not necessarily being used for the betterment of New Zealand.   They didn’t actually need to raise the "Category A” up to $15 million. The amount is not always the key. The key is what is done with it. What is it invested in? How many jobs does it create? Does it start a new company? Does it expand a company? Does it take a business to the next level? Does it open up new markets? All of that is key to investment success. If there is a downside to what they have done, it's the language test. Many years ago, a previous National government tried the same thing, it was an abysmal failure. Some people, many of them Asian, don't speak English as a first language. Those people have the money and the intent. To punish them on language is

The tourism sector is bracing for the long-awaited return of international cruise ships. The maritime border re-opens on Monday, with the Pacific Explorer set to be the first to arrive at Auckland's Queens Wharf from Brisbane on August 12. The official cruise season begins in October, with a full roster of arrivals locked in until mid-July next year. Cruise Association chief executive Kevin O'Sullivan says many operators involved in international tourism are gone, or have downsized. He says operators still around are busy ramping up to take advantage of the return of international tourism and cruises, but it will take time to rebuild. LISTEN ABOVE  

The end of Covid lockdowns means the return of fatal crashes on the country's roads. Latest figures show 320 people died on our roads last year, down more than 11 percent on the road toll in 2018. But the AA says this year's road toll is on track to be 350 to 360 deaths. Ministry of Transport Road to Zero Director Bryan Sherritt told Mike Hosking despite this, the ministry is on track to meet it's 40 percent road toll reduction target LISTEN ABOVE

More young people are absconding electronic bail. ZB newsroom can reveal there were 108 such incidents in the year to June this year, up from 58 the previous year. Youth development worker Aaron Hendry told Mike Hosking officials need to think more about the environments these young people are being placed in. He says in some cases, young people are being placed in emergency hotels, effectively being transitioned into homelessness, and they're expected to stay there. LISTEN ABOVE

A call for New Zealand Rugby boss Mark Robinson to resign. Former chief executive David Moffett has lambasted Robinson's handling of the crisis which has engulfed the All Blacks after the series defeat by Ireland. Past coach Steve Hansen claims a split between the governing body and top players has contributed to the test struggles. Robinson is in the UK on World Rugby business. He has yet to comment on the crisis beyond a statement labelling the recent performances "unacceptable". Moffett was incensed on the Mike Hosking Breakfast. “He should be back here fronting the media, holding up his hand, not leaving it up to guys like Foster to front he media on this absolute bloody shambles, it’s chaotic in there at the moment. And while he’s in there he should write his letter of resignation.” LISTEN ABOVE

The Queensland Government believes it's cracked the code to strawberries that taste like Pina Colada cocktails. Researcher Jodi Neal told Mike Hosking they've spent eight years crossing the seeds of regular strawberries with a wild Chilean plant. She says she's even tried strawberries that taste like red frogs or even bubblegum. LISTEN ABOVE