Reporting season has revealed better than expected results, with median growth across the economy at +21%, despite forecasters predicting it was going to be +16%. 

"We've come out of a pretty long trough in the context of profitability that we've seen across the New Zealand listed companies," Forsyth Barr head of research Andy Bowley told Mike Hosking. 

"But, it's unlikely to be uniform, and as we've seen over the last couple of years, it can be somewhat choppy when we look at it from a company to company, and sector to sector basis."

LISTEN ABOVE

Reporting season has revealed better than expected results, with median growth across the economy at +21%, despite forecasters predicting it was going to be +16%.&nbsp;
"We've come out of a pretty long trough in the context of profitability that we've seen across the New Zealand listed companies," Forsyth Barr head of research Andy Bowley told Mike Hosking.&nbsp;
"But, it's unlikely to be uniform, and as we've seen over the last couple of years, it can be somewhat choppy when we look at it from a company to company, and sector to sector basis."
LISTEN ABOVE

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The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.The sharpest voice and mind in the business, Mike drives strong opinion,...

The Mike Hosking Breakfast

Andy Bowley: Forsyth Barr head of research chats economy bounce back

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/d296f6e2-6315-4f21-b3ac-b4bd013eb60e/transcript

You do wonder if National have an agenda pre-election over race-based issues.

The Waitangi Tribunal review is on Tama Potaka's desk and has been for a while.

It hasn’t gone to Cabinet. Why not?

The report into what they call MAPAS (the Maori and Pacific Admissions Scheme) for medical school at Auckland and Otago university was a coalition deal between Act and National to review it.

They have done it. It's on Associate Health minister Matt Doocey's desk.

Has it gone to Cabinet? No.

Why?

Could it be National aren't all that gripped by race-based issues and don’t want to rock the boat before polling day?

The medical school programme is a scam. It's defended by the universities because they want the gap closed in terms of race representation in medical studies.

In simple terms if you are a Maori or Pacific Islander, your entry to medical school is easier than if you are not. That is indisputably discrimination.

What makes it worse is access to medical school for non-Maori or Pacific Islanders is extraordinarily high.

You need a score into the very high 90's to even get close. There has been much debate over the years as to whether that actually produces great doctors or not.

As a result Auckland take a slightly different approach to Otago over admissions, but the truth remains race gives you an easier pathway.

Their defence also suggests that once in you still have to achieve, no matter who you are and that they also run a rural programme that favours students from regional backgrounds.

My argument is race and geography should play no role. What I want in a doctor is competence and professionalism. Do they know what they are doing?

My GP's have been women, Asian, Indian, male, British, Irish, older and younger. None of it mattered.

Some were quite obviously good, some weren't. Their medical acumen was, and is, what I'm interested in. I assume it's even more relevant by the time you are on a surgery table getting cut open.

It will be interesting to see what the report says. I find it hard to believe the conclusion isn't inevitable i.e race is discrimination, and this Government promised that sort of thing would stop.

So, where is the report? Why isn't it public?  

LISTEN ABOVE 

You do wonder if National have an agenda pre-election over race-based issues.
The Waitangi Tribunal review is on Tama Potaka's desk and has been for a while.
It hasn’t gone to Cabinet. Why not?
The report into what they call MAPAS (the Maori and Pacific Admissions Scheme) for medical school at Auckland and Otago university was a coalition deal between Act and National to review it.
They have done it. It's on Associate Health minister Matt Doocey's desk.
Has it gone to Cabinet? No.
Why?
Could it be National aren't all that gripped by race-based issues and don’t want to rock the boat before polling day?
The medical school programme is a scam. It's defended by the universities because they want the gap closed in terms of race representation in medical studies.
In simple terms if you are a Maori or Pacific Islander, your entry to medical school is easier than if you are not. That is indisputably discrimination.
What makes it worse is access to medical school for non-Maori or Pacific Islanders is extraordinarily high.
You need a score into the very high 90's to even get close. There has been much debate over the years as to whether that actually produces great doctors or not.
As a result Auckland take a slightly different approach to Otago over admissions, but the truth remains race gives you an easier pathway.
Their defence also suggests that once in you still have to achieve, no matter who you are and that they also run a rural programme that favours students from regional backgrounds.
My argument is race and geography should play no role. What I want in a doctor is competence and professionalism. Do they know what they are doing?
My GP's have been women, Asian, Indian, male, British, Irish, older and younger. None of it mattered.
Some were quite obviously good, some weren't. Their medical acumen was, and is, what I'm interested in. I assume it's even more relevant by the time you are on a surgery table getting cut open.
It will be interesting to see what the report says. I find it hard to believe the conclusion isn't inevitable i.e race is discrimination, and this Government promised that sort of thing would stop.
So, where is the report? Why isn't it public? &nbsp;
LISTEN ABOVE&nbsp;

Mike's Minute: Why is National not releasing reports on race-based issues?

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/f7bf157d-7d8e-43cb-a4ee-b4bd0148f83f/transcript

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. 

 

Cars: 7/10 

New car sales are up 20%. If that isn't a sign of confidence, I don’t know what is. 

 

The excise debate: 3/10 

Fantastically disappointing. Labour at $4.6 billion is sad, but not surprising. The Government at $1.6 billion and borrowing. Come on, we wanted, needed, and expected better. 

 

The bond markets: 4/10 

It's why we shouldn’t have done the excise business. Money is expensive and getting more so, and no one seems to see debt for what it is – a big fat red flag. 

 

Aeroplane gate: 4/10 

Honestly, the coolest flyover ever until the wowsers got hold of it. And the wowsers don’t even know how to fly a plane. 

 

Less booze: 6/10 

I think it’s the future. The numbers are down and they will never recover. Between health, fitness, and GLP-1s, the world is different. 

 

LISTEN ABOVE FOR MIKE HOSKING'S FULL WEEK IN REVIEW 

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.&nbsp;
&nbsp;
Cars: 7/10&nbsp;
New car sales are up 20%. If that isn't a sign of confidence, I don’t know what is.&nbsp;
&nbsp;
The excise debate: 3/10&nbsp;
Fantastically disappointing. Labour at $4.6 billion is sad, but not surprising. The Government at $1.6 billion and borrowing. Come on, we wanted, needed, and expected better.&nbsp;
&nbsp;
The bond markets: 4/10&nbsp;
It's why we shouldn’t have done the excise business. Money is expensive and getting more so, and no one seems to see debt for what it is – a big fat red flag.&nbsp;
&nbsp;
Aeroplane gate: 4/10&nbsp;
Honestly, the coolest flyover ever until the wowsers got hold of it. And the wowsers don’t even know how to fly a plane.&nbsp;
&nbsp;
Less booze: 6/10&nbsp;
I think it’s the future. The numbers are down and they will never recover. Between health, fitness, and GLP-1s, the world is different.&nbsp;
&nbsp;
LISTEN ABOVE FOR MIKE HOSKING'S FULL WEEK IN REVIEW&nbsp;

Mark the Week: The fuel excise debate is fantastically disappointing

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/21425427-757e-4949-9636-b4ba0174d53d/transcript

I'm not surprised. But because I'm not surprised, I am disappointed. 

Papers released publicly for the first time reveal the Government considered axing their mad carbon auctions. 

But, and here comes the disappointment, they didn’t. 

They considered dropping them because every time they mucked with the ETS, the confidence in a market they were trying to create was cratered. 

This is not just them, but the previous Government also, who were wedded to the idea that an invented market could work, despite the fact it didn’t. 

Multiple Governments have tinkered and fiddled. They have set prices and reset prices, but each and every auction has basically been a failure. 

Just quickly, if you don’t follow this stuff, there are four auctions a year. You buy credits, if you're a polluter, to offset your environmental damage. 

The trouble is no one turns up; there are no bids and the really bad thing about that is there is no revenue. 

If this actually worked there could be $2 billion worth of income. 

I can't remember how many times I've asked Governments about this, from Robertson to Watts. They all said the same thing, all defended it, and yet the irrefutable proof was, and is, they simply don’t work. 

Credits can be bought and sold in a variety of ways. You can plant trees, you can trade other people credits, but when you are literally dealing with an idea that is invented out of thin air and you have no faith in anyway, why on Earth would you turn up and pay the Government money? 

Obviously, the answer is you wouldn’t, and you didn’t. 

Hence the Government got to the inevitable bit where someone other than me asked "do you reckon this thing is worth sticking with?" 

Under Labour I was not surprised they didn’t kill them because that’s what ideology does to you. It blinds you to logic and common sense. 

But the current lot you would have hoped knew better. Well, as the papers show, they almost did and yet couldn't quite get there. 

So at the next auction, which by the way is September 8th, have a look and see what happens and call me if the answer is anything other than... nothing.   

I'm not surprised. But because I'm not surprised, I am disappointed.&nbsp;
Papers released publicly for the first time reveal the Government considered axing their mad carbon auctions.&nbsp;
But, and here comes the disappointment, they didn’t.&nbsp;
They considered dropping them because every time they mucked with the ETS, the confidence in a market they were trying to create was cratered.&nbsp;
This is not just them, but the previous Government also, who were wedded to the idea that an invented market could work, despite the fact it didn’t.&nbsp;
Multiple Governments have tinkered and fiddled. They have set prices and reset prices, but each and every auction has basically been a failure.&nbsp;
Just quickly, if you don’t follow this stuff, there are four auctions a year. You buy credits, if you're a polluter, to offset your environmental damage.&nbsp;
The trouble is no one turns up; there are no bids and the really bad thing about that is there is no revenue.&nbsp;
If this actually worked there could be $2 billion worth of income.&nbsp;
I can't remember how many times I've asked Governments about this, from Robertson to Watts. They all said the same thing, all defended it, and yet the irrefutable proof was, and is, they simply don’t work.&nbsp;
Credits can be bought and sold in a variety of ways. You can plant trees, you can trade other people credits, but when you are literally dealing with an idea that is invented out of thin air and you have no faith in anyway, why on Earth would you turn up and pay the Government money?&nbsp;
Obviously, the answer is you wouldn’t, and you didn’t.&nbsp;
Hence the Government got to the inevitable bit where someone other than me asked "do you reckon this thing is worth sticking with?"&nbsp;
Under Labour I was not surprised they didn’t kill them because that’s what ideology does to you. It blinds you to logic and common sense.&nbsp;
But the current lot you would have hoped knew better. Well, as the papers show, they almost did and yet couldn't quite get there.&nbsp;
So at the next auction, which by the way is September 8th, have a look and see what happens and call me if the answer is anything other than... nothing. &nbsp;&nbsp;

Mike's Minute: Why didn't the Government drop the carbon auctions?

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/569e5e3c-fee6-4402-9895-b4ba017317ae/transcript

Andy Bowley: Forsyth Barr head of research chats economy bounce back

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