Gas prices could hike up due to the country's low gas production.

Figures from the Gas Industry Company show a 12.5% decrease in gas production last year, and almost 30% less has been produced than projected this year.

Resources Minister Shane Jones told Mike Hosking that he doesn’t want to catastrophize, but it’s very serious. 

He said that after a long period of noninvestment in and stigmatization of the gas sector, we’re now increasingly relying on Indonesian coal to keep the lights on.

It will be a big challenge, Jones said, to convince foreigners and kiwis who have the money to continue to commit to the gas sector.

LISTEN ABOVE

Gas prices could hike up due to the country's low gas production. 
Figures from the Gas Industry Company show a 12.5% decrease in gas production last year, and almost 30% less has been produced than projected this year. 
Resources Minister Shane Jones told Mike Hosking that he doesn’t want to catastrophize, but it’s very serious.  
He said that after a long period of noninvestment in and stigmatization of the gas sector, we’re now increasingly relying on Indonesian coal to keep the lights on. 
It will be a big challenge, Jones said, to convince foreigners and kiwis who have the money to continue to commit to the gas sector. 
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

Shane Jones: Resources Minister on the country's low gas production and reliance on coal

Condemnation of the Reserve Bank's latest change to mortgage rules.

The central bank has confirmed it's going ahead with plans to introduce "debt to income" restrictions, preventing home buyers from borrowing more than six times their pre-tax income.

The changes will be partially offset by the easing of LVR restrictions, to allow for more low-deposit lending.

But property commentator Ashley Church told Mike Hosking that the restrictions are a mistake that will be reversed within three years.

He says this will be the "stupidest" move the Reserve Bank has ever made and will "screw up" the housing market at a time when it should be recovering.

LISTEN ABOVE

Condemnation of the Reserve Bank's latest change to mortgage rules. 
The central bank has confirmed it's going ahead with plans to introduce "debt to income" restrictions, preventing home buyers from borrowing more than six times their pre-tax income. 
The changes will be partially offset by the easing of LVR restrictions, to allow for more low-deposit lending. 
But property commentator Ashley Church told Mike Hosking that the restrictions are a mistake that will be reversed within three years. 
He says this will be the "stupidest" move the Reserve Bank has ever made and will "screw up" the housing market at a time when it should be recovering. 
LISTEN ABOVE

Ashley Church: Property Commentator on the Reserve Bank's changes to debt-to-income ratios

Part of the day of upset, or protest, or whatever the Māori Party are calling it tomorrow, is about the way they feel they are being treated by this new Government.

So, although it's Budget Day, it's not really about the Budget.

It's about section 7AA of the Oranga Tamariki Act and the right to vote if councils unilaterally invoke Māori seats and the move to replace or repeal references to the Treaty in legislation.

One important thing that is worth remembering is the image that has been created by the coverage of the Māori Party that they somehow speak for all Māori, when they don’t.

They speak for a small section of Māori. How do we know this? The first is their vote, which is tiny. The second is that 66% of the leadership of the Government is Māori.

Winston Peters and David Seymour are Māori and want nothing to do with the Māori Party way of approaching how this country is run.

Shane Jones, who is also Māori, is doing the business with the Treaty references.

The references in law are a vague sprinkling of virtue signalling as pedalled by the last Government.

They are not prescriptive, or specifically helpful, in just what it is you need to be looking at or doing when it comes to Māori and any given bit of law.

That is partly down to the fact the Treaty itself is a very broad-based document open to a lot of interpretation.

But by sprinkling references to the Treaty all over the place like pick n mix, you can be seen to be doing the right thing, as long as the right thing doesn’t come with too many questions. That was the Labour Government wasn’t it? Lots of feels or vibes and not being too strong on the ol' detail.

By having a reference in everything it allows those who use taxpayer money to support themselves to activate a bit of legal advice, or legal action, if you perceive the Treaty isn't being appropriately nodded to.

To cover themselves, those who have to adhere to these sort of practices then go about falling over themselves trying to second guess what an appropriate nod might look like in the hope they don't upset anyone.

No one is better off, apart from those who make a living off the gravy train. Everyone is confused, if not angry and angsty, and a lot of time and money has been wasted in the ensuing period.

So, if the Māori Party want to waste some more time tomorrow moaning, that’s OK.

It's also a small price to pay if Shane is successful in ending the circus.

Part of the day of upset, or protest, or whatever the Māori Party are calling it tomorrow, is about the way they feel they are being treated by this new Government. 
So, although it's Budget Day, it's not really about the Budget. 
It's about section 7AA of the Oranga Tamariki Act and the right to vote if councils unilaterally invoke Māori seats and the move to replace or repeal references to the Treaty in legislation. 
One important thing that is worth remembering is the image that has been created by the coverage of the Māori Party that they somehow speak for all Māori, when they don’t. 
They speak for a small section of Māori. How do we know this? The first is their vote, which is tiny. The second is that 66% of the leadership of the Government is Māori. 
Winston Peters and David Seymour are Māori and want nothing to do with the Māori Party way of approaching how this country is run. 
Shane Jones, who is also Māori, is doing the business with the Treaty references. 
The references in law are a vague sprinkling of virtue signalling as pedalled by the last Government. 
They are not prescriptive, or specifically helpful, in just what it is you need to be looking at or doing when it comes to Māori and any given bit of law. 
That is partly down to the fact the Treaty itself is a very broad-based document open to a lot of interpretation. 
But by sprinkling references to the Treaty all over the place like pick n mix, you can be seen to be doing the right thing, as long as the right thing doesn’t come with too many questions. That was the Labour Government wasn’t it? Lots of feels or vibes and not being too strong on the ol' detail. 
By having a reference in everything it allows those who use taxpayer money to support themselves to activate a bit of legal advice, or legal action, if you perceive the Treaty isn't being appropriately nodded to. 
To cover themselves, those who have to adhere to these sort of practices then go about falling over themselves trying to second guess what an appropriate nod might look like in the hope they don't upset anyone. 
No one is better off, apart from those who make a living off the gravy train. Everyone is confused, if not angry and angsty, and a lot of time and money has been wasted in the ensuing period. 
So, if the Māori Party want to waste some more time tomorrow moaning, that’s OK. 
It's also a small price to pay if Shane is successful in ending the circus.

Mike's Minute: The Budget is a scapegoat for the protest

There's no clear end in sight for student protests over accommodation fees at Auckland University.

Members of the Students for Fair Rent group haven't been paying rent since the start of this month.

They're demanding a blanket rent reduction and safeguards against future rises.

Group founder Matthew Lee told Mike Hosking that the university has a responsibility to provide safe, secure, and affordable accommodation for students, which they’re not doing.

He said that they also have the responsibility to engage with students and have explicitly refused to do so.

Lee told Hosking that striking is the only way they have to show the university that this is a significant issue.

LISTEN ABOVE

There's no clear end in sight for student protests over accommodation fees at Auckland University. 
Members of the Students for Fair Rent group haven't been paying rent since the start of this month. 
They're demanding a blanket rent reduction and safeguards against future rises. 
Group founder Matthew Lee told Mike Hosking that the university has a responsibility to provide safe, secure, and affordable accommodation for students, which they’re not doing. 
He said that they also have the responsibility to engage with students and have explicitly refused to do so. 
Lee told Hosking that striking is the only way they have to show the university that this is a significant issue. 
LISTEN ABOVE

Shane Jones: Resources Minister on the country's low gas production and reliance on coal

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