New data shows building activity is down 2.3% on the last quarter.

Naylor Love Chief Executive Rick Herd blames the drop on a decrease in commercial property activity due to the high cost of building.

He told Mike Hosking that a lot of the private development work that was happening previously is on hold, as developers wait for interest rates to drop.

But the total building value is $9.3 billion, up slightly on the same period last year.

LISTEN ABOVE

New data shows building activity is down 2.3% on the last quarter. 
Naylor Love Chief Executive Rick Herd blames the drop on a decrease in commercial property activity due to the high cost of building. 
He told Mike Hosking that a lot of the private development work that was happening previously is on hold, as developers wait for interest rates to drop. 
But the total building value is $9.3 billion, up slightly on the same period last year. 
LISTEN ABOVE

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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

Rick Herd: Naylor Love Chief Executive on the decrease in building activity

I think Nicola Willis may be right when she suggested to us the other day Chris Hipkins might not be very numerate. 

He is undoing himself in front of us. As he does, he reminds us why he has basically done as little as possible these past few years, because when he does he is either in office blowing the place up, or putting out policy in Opposition that makes literally no sense. 

He has blocked petrol excise increases for three years. 

The bill for that is $4.6 billion. He said yesterday he didn’t think that number was right, even though it is. He had an idea what the number was but wouldn’t say. 

Cool policy. 

By the end of the day, he wasn’t ruling out borrowing it. Now, you can't borrow it because in another policy he told us we were returning to surplus by 2028/29. You can't run a surplus as you borrow more. 

Do you think he realises this? 

Then we get to the pay equity bit, which they haven't told us how they are paying for. That’s $12 billion. 

So $16 billion and counting and all paid for by a capital gains tax that, so far, will produce exactly nothing given housing is flat. And even if it wasn’t, it takes years to fire up. 

Oh, and the capitals gains is already paying for free doctors visits we don’t need, or mainly, want. 

To try and come to his defence, is there $4.5 billion worth of stuff you can cancel and cover the excise hole? That's a lot of money on something that gets cancelled and given we are already running things tight, because we have no money, you inevitably come back to the borrowing bit he mentioned late yesterday. 

I cannot overstate the danger of more debt. In the next couple of years, the world is going to go through another financial crisis, driven by debt and overcapped nonsense around chips and AI.  

You do not want to be a small economy at the bottom of the world in a sea of debt reliant on people bailing you out. It is literally the path to ruin. 

We already pay $9 billion a year interest on our debt and people like Fitch have warned us our credit rating is on watch. 

Yet Hipkins has diametrically opposed policies that get us to surplus and have us borrowing more, all at the same time. 

It's all embarrassingly amateurish, short-sighted and dangerous. 

I cannot overstate the idiocy if you think any of this is a path forward. 

I think Nicola Willis may be right when she suggested to us the other day Chris Hipkins might not be very numerate.&nbsp;
He is undoing himself in front of us. As he does, he reminds us why he has basically done as little as possible these past few years, because when he does he is either in office blowing the place up, or putting out policy in Opposition that makes literally no sense.&nbsp;
He has blocked petrol excise increases for three years.&nbsp;
The bill for that is $4.6 billion. He said yesterday he didn’t think that number was right, even though it is. He had an idea what the number was but wouldn’t say.&nbsp;
Cool policy.&nbsp;
By the end of the day, he wasn’t ruling out borrowing it. Now, you can't borrow it because in another policy he told us we were returning to surplus by 2028/29. You can't run a surplus as you borrow more.&nbsp;
Do you think he realises this?&nbsp;
Then we get to the pay equity bit, which they haven't told us how they are paying for. That’s $12 billion.&nbsp;
So $16 billion and counting and all paid for by a capital gains tax that, so far, will produce exactly nothing given housing is flat. And even if it wasn’t, it takes years to fire up.&nbsp;
Oh, and the capitals gains is already paying for free doctors visits we don’t need, or mainly, want.&nbsp;
To try and come to his defence, is there $4.5 billion worth of stuff you can cancel and cover the excise hole? That's a lot of money on something that gets cancelled and given we are already running things tight, because we have no money, you inevitably come back to the borrowing bit he mentioned late yesterday.&nbsp;
I cannot overstate the danger of more debt. In the next couple of years, the world is going to go through another financial crisis, driven by debt and overcapped nonsense around chips and AI. &nbsp;
You do not want to be a small economy at the bottom of the world in a sea of debt reliant on people bailing you out. It is literally the path to ruin.&nbsp;
We already pay $9 billion a year interest on our debt and people like Fitch have warned us our credit rating is on watch.&nbsp;
Yet Hipkins has diametrically opposed policies that get us to surplus and have us borrowing more, all at the same time.&nbsp;
It's all embarrassingly amateurish, short-sighted and dangerous.&nbsp;
I cannot overstate the idiocy if you think any of this is a path forward.&nbsp;

Mike's Minute: Chris Hipkins might not be very numerate

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/04adb240-28a1-4c43-b714-b4b8016e5bcd/transcript

Mark Mitchell and Ginny Andersen are back on Politics Wednesday to delve into the biggest stories of the week thus far with Mike Hosking. 

They discussed delays to fuel tax hike and state of the Land Transport Fund, where Labour would get the money to fund its policies, and the latest Roy Morgan poll. 

LISTEN ABOVE  

Mark Mitchell and Ginny Andersen are back on Politics Wednesday to delve into the biggest stories of the week thus far with Mike Hosking.&nbsp;
They discussed delays to fuel tax hike and state of the Land Transport Fund, where Labour would get the money to fund its policies, and the latest Roy Morgan poll.&nbsp;
LISTEN ABOVE &nbsp;

Pollies: National's Mark Mitchell and Labour's Ginny Andersen on fuel taxes, Labour's policies, Roy Morgan poll

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/ccd44666-a351-47eb-b392-b4b801677c81/transcript

Chinese car brands are winning the hearts and wallets of New Zealanders. 

Motor Trade Association August data shows total light vehicle registrations rose 7.6% on the same time last year. 

New vehicles represented 58 percent of sales, with hybrids the most popular fuel type. 

The data highlights BYD, Chery, Jaecoo, and GWM recorded significant gains, helping Chinese brands increase their share of new vehicle sales to 18.7%. 

Motor Trade Association CEO Lee Marshall told Mike Hosking they seem to have the right product at the right price at the right time. 

Based on the numbers, he says there's no doubt that's talking to people. 

LISTEN ABOVE  

Chinese car brands are winning the hearts and wallets of New Zealanders.&nbsp;
Motor Trade Association August data shows total light vehicle registrations rose 7.6% on the same time last year.&nbsp;
New vehicles represented 58 percent of sales, with hybrids the most popular fuel type.&nbsp;
The data highlights BYD, Chery, Jaecoo, and GWM recorded significant gains, helping Chinese brands increase their share of new vehicle sales to 18.7%.&nbsp;
Motor Trade Association CEO Lee Marshall told Mike Hosking they seem to have the right product at the right price at the right time.&nbsp;
Based on the numbers, he says there's no doubt that's talking to people.&nbsp;
LISTEN ABOVE &nbsp;

Lee Marshall: Motor Trade Association CEO on new car sales jumping 13% in August, Chinese car brands making significant gains

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/c0220e10-757e-41f4-b8d9-b4b801640169/transcript

Rick Herd: Naylor Love Chief Executive on the decrease in building activity

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