The Finance Minister believes the report on the Reserve Bank's performance during Covid affirms decisions made by the current Government. 

An external review of Bank's Covid monetary policy during the pandemic finds it was right to cut the OCR early but was slow to react when the economy bounced back sooner than expected. 

Nicola Willis told Mike Hosking the results show the importance of the guardrails they implemented – having a single inflation-busting mandate and the change to voting to create more accountability. 

She believes the report matters as it also shows the Reserve Bank can keep getting better as long as it has an attitude of ongoing improvement.

LISTEN ABOVE 

The Finance Minister believes the report on the Reserve Bank's performance during Covid affirms decisions made by the current Government.&nbsp;
An external review of Bank's Covid monetary policy during the pandemic finds it was right to cut the OCR early but was slow to react when the economy bounced back sooner than expected.&nbsp;
Nicola Willis told Mike Hosking the results show the importance of the guardrails they implemented – having a single inflation-busting mandate and the change to voting to create more accountability.&nbsp;
She believes the report matters as it also shows the Reserve Bank can keep getting better as long as it has an attitude of ongoing improvement.
LISTEN ABOVE&nbsp;

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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

Nicola Willis: Finance Minister on the independent review into the Reserve Bank's performance during Covid

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/9f21009a-4119-43f7-bbb3-b4cd01563cfa/transcript

So we've got rugby getting together for what they are calling a "critical summit". 

They don’t make money, they haven't made money for years, and they're forecast to lose even more money in the future. 

Three starters for ten are lined up: 

1) Expand Super Rugby with two new teams. 

2) Continue Super Rugby and NPC but merge Super Rugby into the unions. 

3) Replace both with a new 8-10 team competition. 

The glass half-full part of this is the fact that revenue in the past decade has doubled. The problem is the costs. 

So the revenue versus expenditure aspect of this seems fairly easy to address. 

Can you make more money? Most likely not, so you trim your cloth to meet your income. 

That of course comes with sacrifice and some wailing and gnashing, but in general terms business that has seen income increase but still isn't making money tends to be a bit loose at the checkout. 

This all goes in part of course to what they see as their core reason for being. 

Are they in fact a business? Are they more a collective designed to grow and see the game prosper? Is their guiding force to make money, or simply kind of break even and spread what they have about the place? 

It is indisputably a sad state of affairs that our national game can't make money. But they are hardly the first to face the fiscal test. 

Private money is an obvious answer. Some brutal decision making around what is nice to have versus what pays the way are obvious starting points. 

The collective nature of the place strikes me as a problem. There are too many unions, too much provincialism, too much old boy nonsense and, dare I suggest, a bit much wokery. 

What I know is the world is full of very successful sports and sports teams. I see a sea of clubs with growing fortunes, I see crowds, I see ticket prices, I see betting and I see so many aspects of sport actually not just growing but booming. 

We have to produce one sport that actually does well. 

Not all our sports can be on their knees. 

And if rugby can't turn a dollar, what can? 

So we've got rugby getting together for what they are calling a "critical summit".&nbsp;
They don’t make money, they haven't made money for years, and they're forecast to lose even more money in the future.&nbsp;
Three starters for ten are lined up:&nbsp;
1) Expand Super Rugby with two new teams.&nbsp;
2) Continue Super Rugby and NPC but merge Super Rugby into the unions.&nbsp;
3) Replace both with a new 8-10 team competition.&nbsp;
The glass half-full part of this is the fact that revenue in the past decade has doubled. The problem is the costs.&nbsp;
So the revenue versus expenditure aspect of this seems fairly easy to address.&nbsp;
Can you make more money? Most likely not, so you trim your cloth to meet your income.&nbsp;
That of course comes with sacrifice and some wailing and gnashing, but in general terms business that has seen income increase but still isn't making money tends to be a bit loose at the checkout.&nbsp;
This all goes in part of course to what they see as their core reason for being.&nbsp;
Are they in fact a business? Are they more a collective designed to grow and see the game prosper? Is their guiding force to make money, or simply kind of break even and spread what they have about the place?&nbsp;
It is indisputably a sad state of affairs that our national game can't make money. But they are hardly the first to face the fiscal test.&nbsp;
Private money is an obvious answer. Some brutal decision making around what is nice to have versus what pays the way are obvious starting points.&nbsp;
The collective nature of the place strikes me as a problem. There are too many unions, too much provincialism, too much old boy nonsense and, dare I suggest, a bit much wokery.&nbsp;
What I know is the world is full of very successful sports and sports teams. I see a sea of clubs with growing fortunes, I see crowds, I see ticket prices, I see betting and I see so many aspects of sport actually not just growing but booming.&nbsp;
We have to produce one sport that actually does well.&nbsp;
Not all our sports can be on their knees.&nbsp;
And if rugby can't turn a dollar, what can?&nbsp;

Mike's Minute: The critical meeting for NZ Rugby today

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/af7065c5-f1c9-4fce-8d28-b4ce01795600/transcript

Kiwi country musician Jenny Mitchell's success continues to grow. 

In the last few years, she's moved to Australia, released an album, and has both awards and Australian Golden Guitar nominations under her belt. 

She's also toured with Kasey Chambers and opened for the Lumineers, and is now set to release some brand new music. 

Mitchell moved to Melbourne a year and a half ago, prompted by a "completely life-changing, incredible experience". 

"I had the opportunity to tour with [Chambers], who is just an absolute icon," she told Mike Hosking. 

"She took me around Australia on tour ... so just before that tour started, my partner Toby and I moved to Melbourne, and yeah, we're loving it." 

"I think there's a lot of music here," she told Hosking. 

"Not only is it great for me to play, but there's so many venues within walking distance of where we live that I can go and watch music and get inspired." 

But how did Mitchell go from living in New Zealand to touring with a country music star like Kacey Chambers?  

"A couple of years ago, I played a show of my own, a tiny little show, and there were two people there who came in, I knew they hadn't been to a gig before, and they sang just about every word to my songs," Mitchell explained. 

"I had no idea that they are actually really great friends of Kasey's. They're not musical, but they love music and so they sent her my music." 

And so one thing led to another, and soon enough Mitchell was being asked to join Chambers' tour. 

"Completely changed my life."  

LISTEN ABOVE 

Kiwi country musician Jenny Mitchell's success continues to grow.&nbsp;
In the last few years, she's moved to Australia, released an album, and has both awards and Australian Golden Guitar nominations under her belt.&nbsp;
She's also toured with Kasey Chambers and opened for the Lumineers, and is now set to release some brand new music.&nbsp;
Mitchell moved to Melbourne a year and a half ago, prompted by a "completely life-changing, incredible experience".&nbsp;
"I had the opportunity to tour with [Chambers], who is just an absolute icon," she told Mike Hosking.&nbsp;
"She took me around Australia on tour ... so just before that tour started, my partner Toby and I moved to Melbourne, and yeah, we're loving it."&nbsp;
"I think there's a lot of music here," she told Hosking.&nbsp;
"Not only is it great for me to play, but there's so many venues within walking distance of where we live that I can go and watch music and get inspired."&nbsp;
But how did Mitchell go from living in New Zealand to touring with a country music star like Kacey Chambers? &nbsp;
"A couple of years ago, I played a show of my own, a tiny little show, and there were two people there who came in, I knew they hadn't been to a gig before, and they sang just about every word to my songs," Mitchell explained.&nbsp;
"I had no idea that they are actually really great friends of Kasey's. They're not musical, but they love music and so they sent her my music."&nbsp;
And so one thing led to another, and soon enough Mitchell was being asked to join Chambers' tour.&nbsp;
"Completely changed my life." &nbsp;
LISTEN ABOVE&nbsp;

Jenny Mitchell: Kiwi country musician on moving to Melbourne, touring with Kacey Chambers, new music

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/2657afe8-576a-4487-a275-b4ce01778c9d/transcript

The business of sports betting and prediction markets is continuing to grow. 

LeBron James is the latest major name to land a deal in the industry, signing a $15 million a year endorsement deal with Polymarket - nearly four times his NBA salary this season.  

But the fast growth of the sector and ability to bet on anything is sparking some concerns. 

American Institute for Boys and Men Gambling Policy Lead Jonathan D. Cohen argues that prediction markets may be more dangerous than traditional gambling platforms in some respects, as they blur the line between gambling and investing in some countries. 

He told Mike Hosking a 19-year-old who's starting to build wealth could easily delude themselves into thinking it's a wise financial decision, and that's really dangerous for the long-term financial well-being of young people.  

LISTEN ABOVE 

The business of sports betting and prediction markets is continuing to grow.&nbsp;
LeBron James is the latest major name to land a deal in the industry, signing a $15 million a year endorsement deal with Polymarket - nearly four times his NBA salary this season. &nbsp;
But the fast growth of the sector and ability to bet on anything is sparking some concerns.&nbsp;
American Institute for Boys and Men Gambling Policy Lead Jonathan D. Cohen argues that prediction markets may be more dangerous than traditional gambling platforms in some respects, as they blur the line between gambling and investing in some countries.&nbsp;
He told Mike Hosking a 19-year-old who's starting to build wealth could easily delude themselves into thinking it's a wise financial decision, and that's really dangerous for the long-term financial well-being of young people. &nbsp;
LISTEN ABOVE&nbsp;

Jonathan D. Cohen: American Institute for Boys and Men Gambling Policy Lead on the rise of prediction markets and sports betting

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/2e608c53-3d86-4457-be9b-b4ce01681d78/transcript

Nicola Willis: Finance Minister on the independent review into the Reserve Bank's performance during Covid

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