Increased global trade barriers —like Donald Trump's tariffs— are continuing to slow down New Zealand's economic recovery. 

Infometrics is drastically reducing its GDP growth forecast from 2.6% to just 1%. 

Many economists now expect the Reserve Bank to go harder for longer with OCR cuts, despite a likely rise in inflation. 

ASB Chief Executive Vittoria Shortt told Mike Hosking many businesses don't know how they'll be affected by the global uncertainty. 

He says confidence had started to reappear but is now dampening as things start going on hold. 

LISTEN ABOVE 

Increased global trade barriers —like Donald Trump's tariffs— are continuing to slow down New Zealand's economic recovery.&nbsp;
Infometrics is drastically reducing its GDP growth forecast from 2.6% to just 1%.&nbsp;
Many economists now expect the Reserve Bank to go harder for longer with OCR cuts, despite a likely rise in inflation.&nbsp;
ASB Chief Executive Vittoria Shortt told Mike Hosking many businesses don't know how they'll be affected by the global uncertainty.&nbsp;
He says confidence had started to reappear but is now dampening as things start going on hold.&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

Vittoria Shortt: ASB CEO on the impact of global trade barriers on New Zealand's economy

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/bcadd18b-cd8b-4ddf-b366-b2c10146c063/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. 

 

The Warriors: 7/10 

There is a roll-on here, a real consistency, and two more easy points this weekend.   

 

Food scrap bins: 2/10 

They're not used, they're made of plastic, they blow all over the neighbourhood. The 40% shows a bad idea is a bad idea, whether it's on the whiteboard or on your street corner. 

 

Citizenship tests: 6/10 

A lot of ideology floating about the place this week. Does answering a question mean you are something, or subscribe to something, or believe in something? Or did you just tell the people what they wanted to hear? 

 

Cuisine Awards: 2/10 

What a bunch of pompous toffs. No one defends Vaughan Mabee if what is said is true, but Cuisine rates food and menus and dining experiences, not whether fry pan genius extends to being a prat. 

 

The Met Gala: 7/10 

Hate Jeff Bezos all you want, but it's about fundraising and it raises a lot of funds. 

 

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.&nbsp;
&nbsp;
The Warriors: 7/10&nbsp;
There is a roll-on here, a real consistency, and two more easy points this weekend. &nbsp;&nbsp;
&nbsp;
Food scrap bins: 2/10&nbsp;
They're not used, they're made of plastic, they blow all over the neighbourhood. The 40% shows a bad idea is a bad idea, whether it's on the whiteboard or on your street corner.&nbsp;
&nbsp;
Citizenship tests: 6/10&nbsp;
A lot of ideology floating about the place this week. Does answering a question mean you are something, or subscribe to something, or believe in something? Or did you just tell the people what they wanted to hear?&nbsp;
&nbsp;
Cuisine Awards: 2/10&nbsp;
What a bunch of pompous toffs. No one defends Vaughan Mabee if what is said is true, but Cuisine rates food and menus and dining experiences, not whether fry pan genius extends to being a prat.&nbsp;
&nbsp;
The Met Gala: 7/10&nbsp;
Hate Jeff Bezos all you want, but it's about fundraising and it raises a lot of funds.&nbsp;
&nbsp;
LISTEN ABOVE FOR MIKE HOSKING'S FULL WEEK IN REVIEW&nbsp;

Mark the Week: There's a lot of ideology floating about this week

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/203cb730-8213-4992-856b-b443017a449b/transcript

Why now Sean? 

I had Covid vibes when I read Sean Sweeney's thinking about the CRL. 

It was Covid vibes because during that period I cannot tell you how many people I know and regularly dealt with, whether it was people in the media or people from business, who said one thing about the Government and their handling of lockdowns and the economy in private, and something completely different in public. 

So Sean, having left the CRL to head to Ireland, has now left Ireland but has stopped by long enough to tell us we don’t scope our price major projects that well. Who knew? 

The CRL, at well over $5 billion, is a gargantuan waste of money. 

Yes, it will improve things and on paper it makes sense because it joins up some rail lines so you can go around and around. But like most things in life, convenience, improvement, or efficiency comes at a cost. 

What's a terrific idea at $50 is a waste at $200. And for something that started out about $2 billion and will come in at about $6 billion, the CRL has reached the stage where no one really wants to accept responsibility any more for the price and delays, because it got embarrassing a long time ago and tipped over into "well let's just make the most of it and hope it works". 

It won't of course. Not to the extent they dreamed, because what they dream of is New York and London, and we have never been that and never will be. 

Anyway, part of where Sean is right is ideology blinds common sense. Too many people want a say and before you know it, everything is a combination of delayed and expensive. 

Yes, the fast-track RMA reform will help. Less legal action will help. Fewer opportunities for review will help. And God forbid, cross party support would help. 

But what would also help is some backbone – people who say what they believe, whether it gets them attention, or into trouble, or not. 

There are too many pussies in places of influence. Too many spineless, scaredy cats who want the job, or the title, or the reputation, or the pay-packet, and just grin and bear it, or defend it, or lie about it, and babble nonsensical rubbish instead of being honest. 

As much as I appreciate Sean telling it like it is, and he's right and possibly someone in charge might take notice, what I would appreciate more was the same commentary before he filed the resignation letter and scarpered.  

Why now Sean?&nbsp;
I had Covid vibes when I read Sean Sweeney's thinking about the CRL.&nbsp;
It was Covid vibes because during that period I cannot tell you how many people I know and regularly dealt with, whether it was people in the media or people from business, who said one thing about the Government and their handling of lockdowns and the economy in private, and something completely different in public.&nbsp;
So Sean, having left the CRL to head to Ireland, has now left Ireland but has stopped by long enough to tell us we don’t scope our price major projects that well. Who knew?&nbsp;
The CRL, at well over $5 billion, is a gargantuan waste of money.&nbsp;
Yes, it will improve things and on paper it makes sense because it joins up some rail lines so you can go around and around. But like most things in life, convenience, improvement, or efficiency comes at a cost.&nbsp;
What's a terrific idea at $50 is a waste at $200. And for something that started out about $2 billion and will come in at about $6 billion, the CRL has reached the stage where no one really wants to accept responsibility any more for the price and delays, because it got embarrassing a long time ago and tipped over into "well let's just make the most of it and hope it works".&nbsp;
It won't of course. Not to the extent they dreamed, because what they dream of is New York and London, and we have never been that and never will be.&nbsp;
Anyway, part of where Sean is right is ideology blinds common sense. Too many people want a say and before you know it, everything is a combination of delayed and expensive.&nbsp;
Yes, the fast-track RMA reform will help. Less legal action will help. Fewer opportunities for review will help. And God forbid, cross party support would help.&nbsp;
But what would also help is some backbone – people who say what they believe, whether it gets them attention, or into trouble, or not.&nbsp;
There are too many pussies in places of influence. Too many spineless, scaredy cats who want the job, or the title, or the reputation, or the pay-packet, and just grin and bear it, or defend it, or lie about it, and babble nonsensical rubbish instead of being honest.&nbsp;
As much as I appreciate Sean telling it like it is, and he's right and possibly someone in charge might take notice, what I would appreciate more was the same commentary before he filed the resignation letter and scarpered. &nbsp;

Mike's Minute: We need more backbone from our leaders

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/344646ba-95be-484c-96ca-b443017886e1/transcript

Chaotic scenes in Australia as three women linked to Islamic State return home to face crimes against humanity and terror charges. 

The women travelled with their partners to the Middle East more than a decade ago, and they say they wanted to come home for their Australian children. 

They may face court as early as today. 

Australian Correspondent Murray Olds told Mike Hosking a scuffle broke out at Melbourne Airport last night involving men wearing masks waiting for the women. 

He says their children face a tough time readjusting, as they will have seen things no child should ever see.  

LISTEN ABOVE  

Chaotic scenes in Australia as three women linked to Islamic State return home to face crimes against humanity and terror charges.&nbsp;
The women travelled with their partners to the Middle East more than a decade ago, and they say they wanted to come home for their Australian children.&nbsp;
They may face court as early as today.&nbsp;
Australian Correspondent Murray Olds told Mike Hosking a scuffle broke out at Melbourne Airport last night involving men wearing masks waiting for the women.&nbsp;
He says their children face a tough time readjusting, as they will have seen things no child should ever see. &nbsp;
LISTEN ABOVE &nbsp;

Murray Olds: Australian Correspondent on the women linked with ISIS returning to Australia

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/0274906a-05ee-4808-8592-b4430175d315/transcript

Vittoria Shortt: ASB CEO on the impact of global trade barriers on New Zealand's economy

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