Full Show Podcast: 22 July 2026
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What is the main topic discussed in this episode?
Tough on power, sharp on insight. The Mike Hosking Breakfast. With Bailey's Real Estate. Your local experts with national and global reach. News Talk ZB.
Morning and welcome to Dave Parnan's Minister on the 4.1 in Golden Bay. More kids are asking for special assistance in the NCEA exams. Got some exciting numbers around the mineral and avocado story in this country. TVNZ Boss runs us through some World Cup streaming numbers. Mark and Ginny Pony up in politics Wednesday. Richard and Steve are out to overseas.
We're off.
Hosking. Welcome to the day. Seven past six. So the critical question remains, I think, on Golden Bay Cement. Why did we write a check? So here is what most of us seem to accept or agree on, right? Golden is the only playoff locally produced product used in an important and wide variety of major work we need to be doing. Also, we seem to have moved away to a degree from our import if we can't make it mentality, Marsden Point being a good recent example. We can't make everything, but stuff we do make should be supported or protected if it's going to leave us increasingly exposed. That seems to be what we're agreed on so far so good. But, but, the problem between making it and importing it, once you put aside supply chains, is price.
And the price is affected, of course, in this case by the ETS. So the critical question, surely, why not carve out cement From the ETS. What is so fantastically important about the ETS that we can't bespoke it to meet our needs? Why can a farmer, quite rightly, have a unique set of rules on emissions and no one else can? Why is the ETS so inflexible that in an ever-evolving and dramatically so world, we are not able to respond to new rules, the new problems and the new issues of the day? It all has to do with precedent. So the $60 million sets a precedent, right?
Why did the government approve a $60 million bailout for Golden Bay Cement?
Arguably a poor one. And changing the ETS would set a precedent. But would that precedent be worse than the money precedent? I say no. Because the ETS is a malleable, you could argue entirely invented one, driven by an ideology that may or may not actually lead us to achieving anything. We don't have any money, sadly, but we do have, should have, the ability to amend an environmental obligation based on national interest. Oh, and also jobs. Jobs and national interest should trump climate all day long. Being broke and jobless in one degree less heat isn't a deal most of us would be that interested in. So just why was it, or what was it, about the ETS that saw a centre-right government allow climate to trump a bailout?
News of the world in 90 seconds.
All right, let's start with Big Andy's first Cabinet meeting.
We need to every day think, well, what can we do just to take that little bit of pressure off people's shoulders, just to give them that little extra sense that help is coming, so that they can have that bit of hope.
His newly minted defence man Streeting has said, one, defence spending will rise more quickly now and he's running things. Oh, and we don't like those Russians conducting live fire exercises in the channel.
Russia should be in no doubt about the resolve of this government and this prime minister. Our resolve to stand against Russian aggression in Ukraine, but also Russian aggression against all of our allies.
Meantime, in another meeting, this one at the White House and using yellow chairs, Donald was hosting the bloke from Lebanon who was hoping the whole get Israel out of my country thing will work. His host was more interested in all that Canadian smoke.
The wind has a tendency to blow right over New York City, right over, you saw Detroit, that it closed the whole place.
It's very serious what they're doing and they don't seem to be able to do anything about it. If they managed their forest, they wouldn't have the fire. Carney, who was on the receiving end of Trump's latest tariff spray, of course 50% and counting, suggested more trade talks, but not every Canadian shares his enthusiasm.
Some of the initial reaction in Canada, especially from the leaders of various provinces across the country, they've been giving counsel to the Prime Minister, who I think they'll be meeting with today, to say, better no deal than a bad deal.
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Chapters
8 chapters
1
What is the main topic discussed in this episode?
0:00–1:42
2
Why did the government approve a $60 million bailout for Golden Bay Cement?
1:42–4:29
3
How does the ETS affect New Zealand manufacturers and why not carve out cement?
4:29–29:50
4
What drove the July CPI to 4.1% and which items pushed inflation higher?
29:50–37:16
5
How will core inflation and RBNZ policy influence interest rate moves through the rest of the year?
37:16–59:22
6
What were TVNZ’s streaming results for the 2026 FIFA World Cup and how were they monetised?
59:22–1:03:21
7
Why are New Zealand mineral and avocado export numbers changing and what markets matter?
1:03:21–1:25:33
8
How do global events (Iran conflict, shipping through the Straits) affect fuel markets and supply plans?
1:25:33–1:32:27
Speakers
7 identifiedMore from The Mike Hosking Breakfast
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