Former Finance Minister Steven Joyce says there are some things worth celebrating amidst a grim outlook on the economy.  

Treasury documents show the Crown's deficit has grown $3.4 billion dollars in the year to June, to $12.9 billion.  

Spending is outpacing income despite revenue increasing by $14 billion. 

Steven Joyce told Mike Hosking that recovery will be tough, but there are some positives shining through. 

He said that while the country’s net debt doubled post-Covid, we’ve got inflation under control. 

LISTEN ABOVE 

Former Finance Minister Steven Joyce says there are some things worth celebrating amidst a grim outlook on the economy. &nbsp;
Treasury documents show the Crown's deficit has grown $3.4 billion dollars in the year to June, to $12.9 billion. &nbsp;
Spending is outpacing income despite revenue increasing by $14 billion.&nbsp;
Steven Joyce told Mike Hosking that recovery will be tough, but there are some positives shining through.&nbsp;
He said that while the country’s net debt doubled post-Covid, we’ve got inflation under control.&nbsp;
LISTEN ABOVE&nbsp;

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, 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

Steven Joyce: Former Finance Minister on the government's deficit growing by $3.4 billion

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/c9124432-112c-49d2-8894-b205013937be/transcript

On the Mike Hosking Breakfast Full Show Podcast for Friday the 13th of February, is there a water tax in the RMA bill? Chris Bishop responds to some angry farmers.  

Karen Chhour answers questions about why there is Maori leave entitlements at Oranga Tamariki and whether it is more widespread than one Government department.

Kate Hawkesby and Tim Wilson on concert reviews, adult kids back at the house and Kiwis bed times.  

Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.

LISTEN ABOVE

On the Mike Hosking Breakfast Full Show Podcast for Friday the 13th of February, is there a water tax in the RMA bill? Chris Bishop responds to some angry farmers. &nbsp;
Karen Chhour answers questions about why there is Maori leave entitlements at Oranga Tamariki and whether it is more widespread than one Government department.
Kate Hawkesby and Tim Wilson on concert reviews, adult kids back at the house and Kiwis bed times. &nbsp;
Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.
LISTEN ABOVE

Full Show Podcast: 13 February 2026 

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/42f2369a-3193-4d53-afa8-b3ef014c90cf/transcript

March 6th is your day.

This is the date that the changes to foreign buyers of expensive houses comes into play.

This date, in a way, is like the LNG announcement.

The idea of foreign buyers for houses isn't new. It's been part of the Government's plan ever since the Government became the Government.

The LNG idea got floated in the winter of 2024, not long after the Government became the Government also.

This proves one of two things - either it's hard work being in Government and things take longer than you think, or this lot aren't that flash at getting things done despite the rhetoric to the contrary.

The foreign buyers rule is a righting of a horrible, myopic, narrow-minded wrong from the previous Government.

House prices were never driven by Germans buying $15 million homes in Herne Bay, nor the Chinese buying $19 million homes in St Heliers.

And Auckland is essentially where they were all bought.

Queenstown has joined the party a bit lately. But the vast swathe of New Zealand never saw a mega purchase from a filthy, rich foreigner.

Why it's important is we should see foreigners as good people who want to improve their lives, while improving ours via the improvement of the country.

People who have money do things with it, like buy or build business, they invest, they grow, they employ and they pay tax.

They bring knowledge and expertise and they, more often than not, fall in love with our piece of paradise and end up doing far more than they ever set out to do.

I think a lot of Julian Robertson, an American who built lodges and golf courses here that bring in millions. He enhanced the place. And next time you're at the Auckland Art Gallery, go see one of his Picasso's. He gave them a fortune in art.

What drives bans is envy, shallowness, fear and, often, stupidity.

We have at last made it right. Yes, it will help the housing market, but more importantly it will help the country and this country needs to pull every trigger in its arsenal to fire it up.

Nine years ago we were a place of pride and growth and global admiration. Labour 2017-23 destroyed that.

March 6th is a small step back towards redemption and better days.

LISTEN ABOVE

March 6th is your day.
This is the date that the changes to foreign buyers of expensive houses comes into play.
This date, in a way, is like the LNG announcement.
The idea of foreign buyers for houses isn't new. It's been part of the Government's plan ever since the Government became the Government.
The LNG idea got floated in the winter of 2024, not long after the Government became the Government also.
This proves one of two things - either it's hard work being in Government and things take longer than you think, or this lot aren't that flash at getting things done despite the rhetoric to the contrary.
The foreign buyers rule is a righting of a horrible, myopic, narrow-minded wrong from the previous Government.
House prices were never driven by Germans buying $15 million homes in Herne Bay, nor the Chinese buying $19 million homes in St Heliers.
And Auckland is essentially where they were all bought.
Queenstown has joined the party a bit lately. But the vast swathe of New Zealand never saw a mega purchase from a filthy, rich foreigner.
Why it's important is we should see foreigners as good people who want to improve their lives, while improving ours via the improvement of the country.
People who have money do things with it, like buy or build business, they invest, they grow, they employ and they pay tax.
They bring knowledge and expertise and they, more often than not, fall in love with our piece of paradise and end up doing far more than they ever set out to do.
I think a lot of Julian Robertson, an American who built lodges and golf courses here that bring in millions. He enhanced the place. And next time you're at the Auckland Art Gallery, go see one of his Picasso's. He gave them a fortune in art.
What drives bans is envy, shallowness, fear and, often, stupidity.
We have at last made it right. Yes, it will help the housing market, but more importantly it will help the country and this country needs to pull every trigger in its arsenal to fire it up.
Nine years ago we were a place of pride and growth and global admiration. Labour 2017-23 destroyed that.
March 6th is a small step back towards redemption and better days.
LISTEN ABOVE

Mike's Minute: March 6th is the start of redemption

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/0a9c9bff-affb-40f1-9341-b3ef0149730a/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.

LNG: 7/10

An example of the times. A decent idea to help solve a genuine issue and yet too many miss the point and bitch about tax vs levy vs fee.

Greg Foran: 7/10

Back where he belongs. There is a book there. What he thought it might be and what it was, is several chapters worth.

OT and cultural leave: 2/10

When you promise something as this Government did, especially around emotive issues like this, you've got to deliver. The fact this is real and still exists speaks to the angst around the race issues this country battles with.

The Covid review: 8/10

I don’t care if it's political. It's good its political. We all need a reminder of the damage and pain that results from incompetence and arrogance.

Super Bowl: 8/10

The second most watched TV event ever, only behind the most watched TV event ever, which was also the Super Bowl. Spot the sport going places.



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.
LNG: 7/10
An example of the times. A decent idea to help solve a genuine issue and yet too many miss the point and bitch about tax vs levy vs fee.
Greg Foran: 7/10
Back where he belongs. There is a book there. What he thought it might be and what it was, is several chapters worth.
OT and cultural leave: 2/10
When you promise something as this Government did, especially around emotive issues like this, you've got to deliver. The fact this is real and still exists speaks to the angst around the race issues this country battles with.
The Covid review: 8/10
I don’t care if it's political. It's good its political. We all need a reminder of the damage and pain that results from incompetence and arrogance.
Super Bowl: 8/10
The second most watched TV event ever, only behind the most watched TV event ever, which was also the Super Bowl. Spot the sport going places. 
LISTEN ABOVE FOR MIKE HOSKING'S FULL WEEK IN REVIEW

Mark the Week: Spot the sport going places

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/ebad93a6-73a2-42f8-8d79-b3ef0147925b/transcript

Steven Joyce: Former Finance Minister on the government's deficit growing by $3.4 billion

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