An Associate Health Minister says cost is not longer a deterrent for smoking - as she considers a review of the tobacco excise tax.

Earlier this week authorities seized more than a 1.3 million cigarettes - and made five arrests across Rotorua, Waikato and Auckland.

It estimates illicit tobacco accounts for 50 percent of the Australian market.

Minister Casey Costello told Ryan BridgeNew Zealand must be wary to not repeat mistakes across the ditch.

She says Australia had excise tax much higher than ours - while also making it difficult to acquire safer alternatives.

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On the Early Edition with Ryan Bridge Full Show Podcast Thursday 2nd of July 2026, the IMF's given New Zealand a fairly positive report card, Kelly Eckhold Westpac Chief Economist shares his thoughts.

House prices still going in the wrong direction, real estate agent Rawdon Christie tells Ryan why.

Customs Minister Casey Costello has the latest on customs seizing 1.3 million illegal cigarettes and arresting five people.

Plus US Correspondent Mitch McCann has the latest on Trump's Crypto windfall and Taylor Swift's wedding in the next couple of days.

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Don't you find it annoying when some economist or think tank or some 'group' comes to our country and tells us what they think we need to do to make it better?

There's the odd case where you'd want to listen. Former world leaders, current world leaders, banks who lend you money, rating agencies who dictate your cost of borrowing.

But your OECDS, IMFS and World Banks and United Nations?

They all come down here, someone tells them we don't have a capital gains tax and they say, uh, well, you guys need a capital gains tax.

And raise your pension age.

The IMF is here doing this right now.

They outline the problem - we have structural deficit. The government spends more than it earns.

It's borrowing money from the rest of the world just to keep its head above water.

It's struggling, pay-cheque to pay-cheque, taking out pay-day loans to cover the in-betweens.

It's gotten so bad, as I told you earlier this year, next year, $5,600 of the taxes you pay as a household will go straight to paying the interest bill on our debt.

That’s five and half grand a year, just in interest!

More than we spend on schooling our kids through primary and secondary.

Debt servicing is now the fourth-largest line item on the Government’s books, according to Treasury.

So, enter the OECD, or the IMF, or the OEIMF.

Their solution? A comprehensive CGT could raise the equivalent of 1% of GDP, roughly halving the country’s fiscal deficit.

A deficit, they say, we should pay down.

The problem with demanding more tax to pay for bad spending is that it encourages more waste and gluttony.

It's like gorging on fast food, paying for the skinny jab, then getting fat all over again.

You don't learn discipline. No consequences.

And once the next structural deficit inevitably arrives, you know what IMOECDS will recommend.

Another tax.

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New Zealand restaurants are getting their sparkle back, thanks to some joining elite ranks.

More than 100 venues have been recognised by the Michelin Guide, with 14 awarded a single star, including Auckland's Ahi and Wanaka's Kika.

Essence in Queenstown was the only venue to receive a coveted two stars.

Restaurant Association CEO Nicola Waldren told Ryan Bridge the country wasn't guaranteed any stars, so securing 16 stars on the first try is huge.

She says this is a stunning achievement for a little country like ours, with such a special hospitality industry.

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A former Treasury economist believes the agency has lost its mojo.

A new report's calling for Treasury to up its game, detailing a litany of blunders, including incorrect ACC deficit numbers, and costings for the Interislander ferry replacements.

The Public Service Commission also finds some ministers are losing confidence in its advice.

Economist Cameron Bagrie told Ryan Bridge Treasury hasn't been strong enough with previous ministers.

He says if you don't get the right leaders at the top, problems tend to filter through the whole organisation.

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On the Early Edition with Ryan Bridge Full Show Podcast for Wednesday 1st of July 2026, a scathing external review of the Treasury has found it's losing the confidence of ministers. Former Treasury economist Cameron Bagrie shares his thoughts.

The first-ever New Zealand Michelin awards have been handed out, Restaurant Association CEO Nicola Waldren discusses the success of the night.

The Auditor-General says up to 20 thousand school lunches a day are being returned uneaten, Kaitao Intermediate School Principal Phil Palfrey tells Ryan what he's been seeing on the ground.

Plus, UK/Europe Correspondent Gavin Grey has the latest on the UK Government's long-delayed defence investment plan and people granted asylum having to pay back around £10,000 towards the cost of their accommodation and support once they start earning, under government plans.

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The head of a Rotorua intermediate school says more often than not school lunches are delivered looking unappetising.

A report from the Auditor-General found only half of the meals complied with nutritional standards, and criticises the scheme's rollout.

Associate Education Minister David Seymour says some of the meals with fewer vegetables were more popular with students, and the Government saved $130 million last year.

Kaitao Intermediate principal Phil Palfrey told Ryan Bridge he knows the students who aren't eating the meals are hungry.

He says some have resorted to buying food from the local shop on their way to school – a very unhealthy way to start the day.

Palfrey says sometimes there are meals that are okay, but some are horrible.

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Good morning, and I really do mean, good morning.

Four months ago, war kicked off in the Middle East. A year earlier the tariff war kicked off all over the world.

And yet today the following things are happening, regardless.

Wall Street is steaming ahead... on track some best quarterly performances since Covid. The S&P: up 14% through Monday.

Nasdaq up 20%. The price of oil's falling. Manufacturing activity in the States is at a four-year-high.

Here at home, people always tell you the bad but rarely report the good or stable.

Yesterday, business confidence was UP in June. A net 37% of businesses are more confident this month compared to last.

Despite the war and oil and shoppers being a bit cautious, there's optimism and hope.

Jobs. Remember they said jobs would fall off a cliff? People would stop hiring?

Remember the employment survey that came out a few weeks ago? It was the most negative/depressing reading since it began decades ago.

Then we got the jobs number Monday... we gained opportunities. We gained workers.

On a net basis, we added to the pool.

That's why on this programme we always strive to bring facts without so much emotion and hyperbole.

Bad things happen and people react, but not always in the way you think, or even they think, they will.

And if there's one thing you can sure of, no matter how disastrous the headline the vent, the war, the pandemic...

Commerce will always find a way. Eventually.

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