Treasury Report: Why Mike Hosking Says Labour Won’t Win

Mike Hosking breaks down the Treasury report’s damning findings on Labour’s COVID spending — and why it could cost them the next election.

On a recent Mike’s Minute segment on Newstalk ZB, Mike Hosking dives into the political implications of a new Treasury report. His take? The document is a damning reminder of past fiscal mismanagement — and a big reason Labour won’t win the next election.

Watch the full segment here:

Key Takeaways from Mike Hosking’s Commentary

• Historical momentum — Hosking argues that, under normal political patterns, governments often get two terms, but the current opposition’s baggage changes the equation.
• Treasury’s warning ignored — The report says Labour overspent during COVID, despite advice to keep spending targeted and disciplined.
• $66 billion spending spree — Equivalent to 20% of GDP, much of it continued even after the immediate crisis.
• Missed opportunity by current government — Hosking critiques the present administration as timid, delivering incremental rather than transformational change.
• Political opening — Labour is hoping voters forget the fiscal mess, but Treasury’s own analysis makes that hard to erase.
• Election outlook — With the same leadership team and no apology or renewal, Hosking predicts Labour “will not win.”

Our take:
Hosking’s argument hinges on the idea that voters have long memories — especially when backed by official data like Treasury’s. Even if Labour tries to reframe the narrative, this report could anchor public perception right through to election day.

Source:
Mike Hosking, Mike’s Minute, Newstalk ZB – Watch on YouTube