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The Mike Hosking Breakfast

Mike's Minute: My thoughts on the Budget

28 May 2026

Transcription

Chapter 1: What are the implications of the budget surplus arriving ahead of schedule?

0.031 - 16.649 Mike Hosking

So I asked for the surplus to arrive sooner than previously forecast. And as though she was listening this time yesterday, the first words out of Nicola Willis's mouth was it will be a year ahead of schedule. You can't ask for more than that. That's not an election year lolly, but I'm increasingly of the belief that a growing number of New Zealanders have got the message at last.

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16.729 - 36.118 Mike Hosking

A growing number of us have been shaken. into the cold, hard reality that $9 billion a year in debt servicing is absurd and it can't continue. We need to cut our cloth, and that in many respects was what yesterday was about. It's probably brave in election year to run things this tight, but it's also the adult thing to do, so the message politically is stark. You want free stuff?

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36.539 - 38.1 Mike Hosking

The current government aren't really for you.

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Chapter 2: How does the current government plan to address New Zealand's debt servicing?

38.16 - 56.364 Mike Hosking

You want grown-ups paying for life as we earn it? This may be the lot that gets you vote. I do worry about health. I mean, yes, health was a big multi-billion dollar winner And the hardware, the facilities, you know, the equipment needs to spruce up, and yes, bits and parts are squeezed. But the health bill for 5 million people seems amazing to me, and not in a good way.

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57.025 - 77.805 Mike Hosking

There's got to be savings in there somewhere. I didn't use my $17,000 last year, so somebody did. $17,000 for every single house in this country. It's not right. The road improvements and the tricky bits of the country are like that. Build them properly, deal to the future, don't patch it up. We already know about education, a revolution is on and we'll be all better off for it.

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78.146 - 94.532 Mike Hosking

You know I'm a trades fan, big wins for good old fashioned but increasingly important jobs. Not every kid wants a BA. And even if they did get one, doesn't mean there's a job waiting. The world will always want a sparky or a mechanic. There were the basics, the rationale, the logic. There was a good message about three parties doing collegial work.

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94.812 - 110.65 Mike Hosking

There were wins for each of them, all mixed up with the overarching message that the madness fiscally has stopped. The reality has arrived. But, but also there, big picture, get this right. This is a place that has its best days ahead of it. I liked it. An easy 7 out of 10.

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110.9 - 119.087 Unknown

For more from the Mike Hosking Breakfast, listen live to News Talk ZB from 6 a.m. weekdays or follow the podcast on iHeartRadio.

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