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illegible NEWS MORTGAGE RATES - Labour and Mortgage Corpn customers demanding action from govt to help bail out low income Corpn customers over its high interest rates, liftd to 12.5%. Comment from mortgagee Ann Campbell and Labour's Housing spokesman Paul Swain. (Peter Fowler); Housing minister Murray McCully says he's unhappy with Mortage Corpn's interest rates, and govt tried to encourage it to waive penalites for those seeking to change banks.(q) POLITICAL RISK PREMIUM - debate over influence of political coalitions on interest rates, with phrase "political risk premium" coined by Finance minister Bill Birch. Bancorp Treasury Services predicts left-leaning coalition govt would push up interest rates by as much as 4%. But how do you quantify political support? I/v with Bancorp's Roger Kerr. (Mng Rpt) POLICE - Flaxmere police told their station is to be downgraded and 9 frontline officers will be absorbed by Hastings police. Decision a suprise to Police HQ and comment from Snr Sgt Terry Gray, and Des McKibbin, former police officer and father of murdered constable Glenn McKibbin. (Karlum Lattimore) INDIA - PM Atal Bihari Vajpayee and his BJP Party on brink of losing power after only 2 weeks in office, with vote of no confidence later today certain to go against him. I/v with correspondent Ranjan Gupta. (Mng Rpt) illegible - deal to halt fighting from midnight June 1 signed at peace talks between Russian president Boris Yeltsin and Chechen leader Zelimkahan Yandarbiyev. I/v with correspondent Tracy Sutherland.
0730 NEWS/WEATHER/SPORTS POLICE - live i/v with Hawkes Bay District Cdr Tony Lethica about downgrade of Flaxmere police station. WAIKATO UNIV defends financial management in wake of reports that some depts overspent on luxury items. Waikato Students Assn demands increased accountability in wake of Audit NZ report. Live i/v with Students Assn president Ben King. FERRY sailings across Cook Strait disrupted by 5 metre southerly swell and winds gusting to 70 knots. TranzRail doesn't expect any further disruption today as conditions ease. (Andi Brotherston/Sarah Holden) CRICKET - censure and fining of Chris Cairns and Adam Parore for outbursts made during tour of West Indies not expected to be end of matter. Live i/v with commentator Brian Waddle, who says it's now management's turn to look at its own performance. FINANCE - money markets latest with David Jones.
0800 NEWS/WEATHER POLITICAL RISK PREMIUM - ACT party leader Richard Prebble suggests home mortgage interest rates may reach 12% by election time, may be price voters pay for supporting NZ First. Alliance leader Jim Anderton rejects concept of political risk premium. Live i/vs with him and Richard Prebble. EVEREST - 3 colleagues of Rob Hall and Andy Harris return to NZ from Nepal. Guy Cotter, Helen Wilton, and Caroline Mckenzie worked for Rob Hall's company. LIve i/v with Guy Cotter about Hall's death on the mountain. PAPERS/ASPAC HEADLINES
0830 NEWS/SPORTS WELLINGTON WATERFRONT - Lambton Harbour Management granted planning permission by WN City Council committee, despite widespread public opposition, for housing development in Chaffers Bay. Live i/v with Lambton Harbour Management's Donald Best and Jim Barr of opposition lobby group, Waterfront Watch. SCOTTISH RUGBY team begins NZ tour this evening with night game against Wanganui. I/v with team manager Jim Telfer. (Mng Rpt) CYBER RUGBY - ultimate venue for rugby may be in cyberspace on the Internet. Comment from Brendan O'Connor, NZRFU, player Andrew Mehrtens, and Glen Taylor of Telecom. (Stephen Hewson) COMMENT GERMANY - Sudeten Germans expelled from Czechoslovakia after WWII. Cause resurfaces, with many feeling they should not have had to pay for Hitler's crimes. Live i/v with correspondent John Walker.