Kiwibank has already made a cut ahead of this afternoon’s OCR announcement. 

The Reserve Bank is set to announce a cut to the Official Cash Rate, with economists and the market predicting a cut of 50 basis points. 

Kiwibank has taken 50 basis points off their floating loan rates, potentially pre-empting the bank’s decision.  

CEO Steve Jurkovich told Mike Hosking that they’d be disappointed if the Reserve Bank were to only cut by 25 points. 

He said that people, businesses, and their customers are really, really hoping for 50, and he thinks it's the right thing to do. 

LISTEN ABOVE 

Kiwibank has already made a cut ahead of this afternoon’s OCR announcement.&nbsp;
The Reserve Bank is set to announce a cut to the Official Cash Rate, with economists and the market predicting a cut of 50 basis points.&nbsp;
Kiwibank has taken 50 basis points off their floating loan rates, potentially pre-empting the bank’s decision. &nbsp;
CEO Steve Jurkovich told Mike Hosking that they’d be disappointed if the Reserve Bank were to only cut by 25 points.&nbsp;
He said that people, businesses, and their customers are really, really hoping for 50, and he thinks it's the right thing to do.&nbsp;
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

Steve Jurkovich: Kiwibank CEO ahead of the Official Cash Rate announcement

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/99065fab-e116-4b1a-9d88-b203016dc0ce/transcript

There are some dumb games being played at the moment in the very serious business of health. 

Health NZ is in the red to the tune of $1.7b - that's for the year. They are over budget by $1.7b. 

That’s why Lester Levy got to be Commissioner and all the others were let go. 

Game one is the Labour Party, who have of course zero credibility when it comes to money, who are claiming the $1.7b is because Health NZ is underfunded. 

I have seen the budget-on-budget comparisons. They are not underfunded. 

Ayesha Verrall is playing with numbers in a "Ginny Andersen-have-you-see-how-many-cops-are-on-the-beat" kind of way. 

Dumb game number two comes from the unions, also with zero credibility around economics. They argue their equity pay claim, this was when we gave nurses a massive pay rise of $400m, should not be part of the $1.7b because they were told it was coming from "another pot". 

Sadly other pots aren't real. What's real is what it costs to run the health system and what it costs is more than they have, hence they are in the red to the tune of $1.7b and part of the cost is what we pay nurses. 

The culmination of Labour and the unions’ dumb game is that, allegedly, the Government are manufacturing a crisis. 

The trouble with numbers, generally speaking, is they are what they are. 

We deal with this daily with our bank balances. If we are overdrawn we are, generally, not manufacturing a crisis or we haven't been underfunded, we are just overdrawn and we need to live within our means. 

The unions and the Labour Party have never really had any trouble living beyond their means and that is why, more broadly speaking economically, we have had three recessions in two years. 

We have not, and still don’t, pay our way. 

If there's any good news it's that at $1.7b a year, surely there is a lot of waste in there? 

If Erica Stanford can find $100m on a Māori language course that was producing little if anything, Lord only knows what you can find in the $30b of health money. 

But the most valuable skill we can bring to such matters at the moment is realism. Economic realism. 

We are broke. We are overspending. And fudging numbers and playing dumb games doesn’t help. 

There are some dumb games being played at the moment in the very serious business of health.&nbsp;
Health NZ is in the red to the tune of $1.7b - that's for the year. They are over budget by $1.7b.&nbsp;
That’s why Lester Levy got to be Commissioner and all the others were let go.&nbsp;
Game one is the Labour Party, who have of course zero credibility when it comes to money, who are claiming the $1.7b is because Health NZ is underfunded.&nbsp;
I have seen the budget-on-budget comparisons. They are not underfunded.&nbsp;
Ayesha Verrall is playing with numbers in a "Ginny Andersen-have-you-see-how-many-cops-are-on-the-beat" kind of way.&nbsp;
Dumb game number two comes from the unions, also with zero credibility around economics. They argue their equity pay claim, this was when we gave nurses a massive pay rise of $400m, should not be part of the $1.7b because they were told it was coming from "another pot".&nbsp;
Sadly other pots aren't real. What's real is what it costs to run the health system and what it costs is more than they have, hence they are in the red to the tune of $1.7b and part of the cost is what we pay nurses.&nbsp;
The culmination of Labour and the unions’ dumb game is that, allegedly, the Government are manufacturing a crisis.&nbsp;
The trouble with numbers, generally speaking, is they are what they are.&nbsp;
We deal with this daily with our bank balances. If we are overdrawn we are, generally, not manufacturing a crisis or we haven't been underfunded, we are just overdrawn and we need to live within our means.&nbsp;
The unions and the Labour Party have never really had any trouble living beyond their means and that is why, more broadly speaking economically, we have had three recessions in two years.&nbsp;
We have not, and still don’t, pay our way.&nbsp;
If there's any good news it's that at $1.7b a year, surely there is a lot of waste in there?&nbsp;
If Erica Stanford can find $100m on a Māori language course that was producing little if anything, Lord only knows what you can find in the $30b of health money.&nbsp;
But the most valuable skill we can bring to such matters at the moment is realism. Economic realism.&nbsp;
We are broke. We are overspending. And fudging numbers and playing dumb games doesn’t help.&nbsp;

Mike's Minute: There's dumb games being played in health

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/3b61b4a3-437e-4914-9b32-b20301637323/transcript

Is the rugby league season getting too long? 

The season is about to get longer, as the Kiwis take on Australia and Tonga later this month. 

Kiwis Selector Tawera Nikau told Mike Hosking that the length of the NRL season becomes a bit of a problem at the back end. 

He said it’s not a lack of willingness from the players, but rather the state they’re in by the end of 27 rounds. 

LISTEN ABOVE 

Is the rugby league season getting too long?&nbsp;
The season is about to get longer, as the Kiwis take on Australia and Tonga later this month.&nbsp;
Kiwis Selector Tawera Nikau told Mike Hosking that the length of the NRL season becomes a bit of a problem at the back end.&nbsp;
He said it’s not a lack of willingness from the players, but rather the state they’re in by the end of 27 rounds.&nbsp;
LISTEN ABOVE&nbsp;

Tawera Nikau: Kiwis Selector on the upcoming rugby league tests against Australia and Tonga

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/05cd270b-28f1-47bf-8ae7-b203015f2452/transcript

Buyout blueprints are “on the way” after the severe flooding in Dunedin last week. 

Emergency Management Minister Mark Mitchell says they’re currently building legislation that can be used as a template for future disasters, streamlining the process. 

He told Mike Hosking that in terms of recovery, they’ve definitely moved the needle, and he’s hoping they’ll have most of the buyouts completed by the end of the year. 

Labour’s Ginny Andersen said that there are parts of New Zealand that will continue to be hit by weather events again and again, and the difficult question will be how, over the next 20 years, the safety of those communities can be improved. 

LISTEN ABOVE 

Buyout blueprints are “on the way” after the severe flooding in Dunedin last week.&nbsp;
Emergency Management Minister Mark Mitchell says they’re currently building legislation that can be used as a template for future disasters, streamlining the process.&nbsp;
He told Mike Hosking that in terms of recovery, they’ve definitely moved the needle, and he’s hoping they’ll have most of the buyouts completed by the end of the year.&nbsp;
Labour’s Ginny Andersen said that there are parts of New Zealand that will continue to be hit by weather events again and again, and the difficult question will be how, over the next 20 years, the safety of those communities can be improved.&nbsp;
LISTEN ABOVE&nbsp;

Pollies: Labour's Ginny Andersen and National's Mark Mitchell on the Dunedin Hospital cost cuts and buy outs for flood victims

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/1aba3073-4740-45dd-9523-b20301561e1e/transcript

Steve Jurkovich: Kiwibank CEO ahead of the Official Cash Rate announcement

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