Best of Business

Time will tell how many people will actually benefit from changes to help first home buyers. House price caps for the First Home Grant have been lifted in many parts of the country, while the caps for the First Home Loans scheme will be removed entirely. First Home Buyers' Club Director Lesley Harris told Kate Hawkesby the bank's criteria is key. She says they're stress-testing people at a much hi...

A rare moment of agreement across the political divide as National's Leader says he's supportive of the idea to scrap the school decile system. Christopher Luxon told Kate Hawkesby deciles were too broad. He says what they proposed was to use data which highlights the families who are doing it tough, and schools are allocated money in an anonymised way, based on the families at their school. The G...

Finance Minister Grant Robertson is defending his cost-of-living Budget package from criticism it is too short-term and narrow, saying long-term or widespread relief would only stoke inflation further. Robertson delivered his fifth Budget yesterday – the first since 2020 in which Covid-19 was not the dominant feature but which addressed one of the hangovers of Covid-19 – rising inflation. It inclu...

There are concerns there's a risk we become a mouse on an exercise wheel. One of the key parts of the Budget is a billion dollar cost-of-living package, which includes $350 dollars for people who earn less than $70, 000 per year, and don't get the Winter Energy Payment. Economist Cameron Bagrie told Mike Hosking as inflation goes up, and if we start spending more on the other side to compensate, t...

There was some sobering economic reality at my place yesterday. My street had a truck vacuum in it, sucking all the crap out of the drains, so there was the obligatory 800 metres of cones and two stop go people. Stop/go people have had a 28 percent wage rise on average this past year. I know this because I told you yesterday - the Seek job ad numbers tell us the 28 percent has taken them to about...

Spain has approved plans to become the first European country to introduce unlimited paid menstrual leave in the workplace. The draft law lets women suffering severe period pain take time off as long as they can provide a doctor's note. Questions have been asked as to whether we should introduce the same in New Zealand. Danika Revell is co-founder and CEO of The Period Place charity and joined Mik...

The fishing industry could be washed up within weeks over spiralling fuel prices. There are suggestions that seeing as the trucking industry gets the benefit of the fuel cut, so should the fisheries. Craig Boote is the Managing Director of Westfleet Seafoods and wants all fuel users to be treated the same. Boote joined Mike Hosking. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Hopes the poor will get a look in in today's Budget. Wellington City Missioner Murray Edridge says low income earners are being unfairly hit by the cost of living. He's particularly concerned by the rising cost of food. Edridge told Mike Hosking the Government can't rest on its laurels. “We’re still seeing people, in fact, we’re seeing people worse off because of economic circumstances and Covid a...

Promises have come from this country's telcos that they're cleaning up their act. The sector received a telling off from the Commerce Commission last year for confusing customers with their marketing. Now the sector has new codes of conduct which include the customer being able to walk away from a service without penalty if it "materially fails to deliver" and speed of internet advertisements bein...

So it seems the internet is killing the television star. New research out from Canstar shows more than a third of Kiwis no longer watch traditional television - up 20 percent over the past year. Along with that, nearly 80 percent of people get their entertainment mainly through the internet. Tech commentator Jordan Tini joined Kate Hawkesby to discuss how television remains hanging in there. LISTE...

Elon Musk may be getting cold feet about buying Twitter. The Tesla CEO says the deal can't move forward unless Twitter shows public proof that fewer than 5 per cent of its accounts are fake or spam. Wedbush Security managing director Dan Ives says these accounts are undoubtedly an issue. He told Kate Hawkesby the issue could be more of an escape clause for Musk, if he's looking for a way out of th...

Whether The Warehouse dip their toes back into the supermarket game properly may well be an insight into the reality of the supermarket game in this country. And whether or not the Commerce Commission was ever really needed to provide the report they did into the sector. There was much upset from those who believed we are getting ripped off when the Commission didn’t appear to find any of it. They...

The Government's offering up new transport options, rather than kicking people out of their cars. Included in their Emissions Reduction Plan is more than half a billion dollars towards pushing electric and hybrid vehicles. The money will help lower and middle income households scrap their fossil-fuel burning cars for a climate-friendly alternative. A pilot of the scheme will involve up to 2500 veh...

There are predictions of a few hiccups in getting more electric vehicles on our roads. The Government wants total driving cut by a fifth, and 30 percent of people driving zero emission cars by 2035. Manufacturer Singer Electrical says home charging units haven't been subsidised, and can cost up to $5,000. Marketing Manager Finn McLaren told Kate Hawkesby that's not the only issue. He says supply i...

Omicron, staffing and supply chain issues are stalling economic momentum. New research from Infometrics shows economic activity has picked up slightly in the first three months of this year. However, the shortage of workers and materials is proving a hindrance. But Infometrics Economist Brad Olsen told Mike Hosking when you factor in Auckland's period in lockdown, there's almost no growth at all....

The Government's move to enforce collective bargaining under its Fair Pay legislation could breach international labour law.   Collective bargaining would be made compulsory under the proposals.  And while the UN's International Labour Organisation promotes the practice it does not enforce it.  BusinessNZ Chief Kirk Hope told Mike Hosking the move could put New Zealand on a list of the world's wor...

Climate Change Minister James Shaw revealed his emissions budget this week and has been backed by both Labour and National. The budgets will see New Zealand have to reduce emissions quite significantly this decade. The Emissions Reduction Plan will be released on Monday which will outline how we get there. Business commentator Rod Oram joined Heather du Plessis-Allan. LISTEN ABOVE See omnystudio.c...

A consumer advocate says he'd like to see The Warehouse enter the grocery game. The retailer says it is considering getting into groceries, amid price concerns with our two biggest supermarkets. The Warehouse already stocks some grocery items. Former Head of the Food and Grocery Council Ernie Newman told Heather du Plessis-Allan they have tried before but got into trouble. He says Woolworths and F...

I’ve got that old saying about the left hand not knowing what the right hand is doing in my head today. And it’s why I think we need to seriously consider creating a Super City by merging the Christchurch, Selwyn and Waimakariri councils. I’ve thought this for some time and I’m thinking about it again today for a couple of reasons. The first, is the uproar in Lincoln over this new housing developm...

Our lab workers have had to go to Parliament for the first time in 75 years to have their voices heard, saying the industry is in crisis. The NZ Institute of Medical Laboratory Sciences delivered a petition to Health Minister Andrew Little, wanting a full and comprehensive review of their profession. President Terry Taylor joined Kate Hawkesby. LISTEN ABOVE See omnystudio.com/listener for privacy...

New Zealand is launching a trade dispute against Canada in a growing dairy backlash. The Government's arguing we don't have as much access to the Canadian export market as promised. The dispute is the first lodged under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. Dairy Companies Association Chairman Malcolm Bailey told Mike Hosking this is a good move. He says Canada...

National says the Government needs to rein in spending to avoid adding to the inflationary pressures facing the economy. Finance Minister Grant Robertson is due to release his budget next Thursday. New Stats NZ figures show the cost of living is continuing to rise - with food prices increasing more than six percent over the past 12 months. National finance spokesperson Nicola Willis told Mike Hosk...

Funny how the old corporate world works. Countdown freezes prices. Or do they? No one believes them, thus indicating whether they are or not, they are probably wasting their time. Not to be outdone, Foodstuffs enters and tells us they are reducing the price of more than 100 items by 10 percent. Are they? I think the same number of people who believe the Countdown claim believe the Foodstuffs claim...

The Government has laid out a raft of new changes to our immigration and border rules. Urgently needed workers will now be allowed to come through a green list system, designed to fast track residency, for hard to fill jobs. While other industries not on the list can apply for residency after two years. Phil O'Reilly is the former Business New Zealand boss and he joined Kate Hawkesby. LISTEN ABOVE...

The Government is currently reviewing our pig farming practices and wants to tighten the welfare requirements for our local pork. NZ Pork has made it clear they are not happy about this. But they have also just presented a petition asking for imported pork to be required to meet the same welfare standards as local pork. Chief executive of NZ Pork Brent Kleiss joined Kate Hawkesby. LISTEN ABOVE See...