Barbara Edmonds says Labour's Future Fund would invest in NZ infrastructure & firms, seeded with $200m & SOE dividends. I asked her what problem it solved & why it was better than other policies
Release please Bernard. You are absolutely correct. Stupid policy for generations has crippled NZ’s young. Labour is trying to have it both ways. Problem is Crown balance sheet and 30/30 rule. They need to get some”Cojones” otherwise it is Green/Green for me. Not Trump “lite”(Nz first). Labour just lost my vote.
Bang on Bernard... while it seems to be a step in the right direction, it's sidestepping the fundamental issue and leaves us with the uncomfortable impression that our elected leaders are charging along wearing a very narrow set of blinkers. Please, please please keep up the good work, you're a breath of fresh air.
For those with a musical bent... Sleaford Mods latest might strike a chord. Oh my word.
The financial incentives for buying residential rental or speculative property MUST be removed !!!
1) Allowing residential rental property owners to deduct their mortgage interest from their income before their tax is calculated must be stopped !!!
2) Also, more than 2 BILLION dollars is given to residential rental property owners every year through the accommodation supplement (tenants are only intermediaries).
as long as these colossal/enormous/huge/massive incentives exist people will continue to buy/purchase housing instead of investing in productive businesses.
only 200 mill? just one third of the cost of cancelling the ferries!
but, seriously, will any money dished out be a tangible investment? or will we just dish out money to help build up technology companies for them to just cash in sell their businesses overseas? Any money invested should be to buy an equity stake.
Oh dear - if this is the start of Labour's policies, it is underwhelming. Where is the vision to look beyond the present fiscal policies? We have a huge fund of money - the Superfund. Yes, its supposed to be used for Super in the future - but what's the point of keeping that invested mainly overseas, when we have such need at home? Use this fund now to repair our infrastructure and give young ones some hope of living here. Look after our young and many of the problems downstream may well disappear
Labour still stuck in ad hoc programs rather than developing a comprehensive architecture of policies. Plus the gaming announcement today. Who is advising them? At least the greens have a raft of policies designed to work together.
Given the increase in rates and insurance, at best a flat property market, and interest rates unlikely to get much lower now, there is not much incentive to hold property. A lot of the population cannot afford to buy property at its current multiple of income cost. Add this to the fact that the older population may want to liquidize their property holdings in their retirement, property may not be the golden investment that it has been in the past.
Owning residential property is not a business and should not have the ability to deduct interest costs from operational expenses unless it is a business. If it is a business, then GST should be paid on purchases and charges and administrative time accounted for.
As far as the future fund is concerned it is nice to see a political party trying to promote and invest in NZ. Way better than slash and burn the place to the ground by selling any assets stripping natural resources for the benefit of international corporations and punishing the resident work force!
Is it Chris Hipkins holding them back? I like him a lot but he seems such a fence sitter and dare I say it insipid. I have have seen Barbara Edmonds talk and she seemed far more interesting and progressive 18 months ago. I am a Labour Party Supporter, however feeling a little underwhelmed at the moment, they need to up the game and quickly. The thought of this current government for another three years after next year.....aaagh.
Initially when I saw the announcement I went Yay!!! finally Labour has a plan of sorts. Now having heard and read your commentary I think disappointed. There seems such an obvious way ahead with Sovereign credit that with a little tweak this idea of Labours could be gold for our futures
I think Labour are pitching their policies to those who don't understand the sovereign currency and believe the 40 years of neoliberalism that told them debt us bad and we have no money.
Unless you are a member and put your time in to convince them differently there's no reason to be disappointed. Its not a bad policy, just not as good as some of us would have liked it to be.
But it gives people reason to vote Labour because they are talking about investing in NZ, giving them a point of difference to the current cruelty.
I will still vote Greens as they align better with what I think should be done and hope that they will have some bottom lines to forming a govt with Labour.
Please allow sharing with the written version with the public. Your analysis of this policy proposal and how NZ government could do things so much better is spot on.
Hi Bernard.
Thanks for this, really helpful. The end did cut off a bit suddenly. Seemed like you had more to say.
Very greatful for your analysis, Mate. 🙏🙏🙏
Release please Bernard. You are absolutely correct. Stupid policy for generations has crippled NZ’s young. Labour is trying to have it both ways. Problem is Crown balance sheet and 30/30 rule. They need to get some”Cojones” otherwise it is Green/Green for me. Not Trump “lite”(Nz first). Labour just lost my vote.
Patrick Medlicott
Yep. Open to all from thw start
Wait Patrick, there is more coming!
P.s
This does NOT mean I will vote for National who are killing my grandchildren!
Patrick Medlicott
Bang on Bernard... while it seems to be a step in the right direction, it's sidestepping the fundamental issue and leaves us with the uncomfortable impression that our elected leaders are charging along wearing a very narrow set of blinkers. Please, please please keep up the good work, you're a breath of fresh air.
For those with a musical bent... Sleaford Mods latest might strike a chord. Oh my word.
The financial incentives for buying residential rental or speculative property MUST be removed !!!
1) Allowing residential rental property owners to deduct their mortgage interest from their income before their tax is calculated must be stopped !!!
2) Also, more than 2 BILLION dollars is given to residential rental property owners every year through the accommodation supplement (tenants are only intermediaries).
as long as these colossal/enormous/huge/massive incentives exist people will continue to buy/purchase housing instead of investing in productive businesses.
only 200 mill? just one third of the cost of cancelling the ferries!
but, seriously, will any money dished out be a tangible investment? or will we just dish out money to help build up technology companies for them to just cash in sell their businesses overseas? Any money invested should be to buy an equity stake.
Oh dear - if this is the start of Labour's policies, it is underwhelming. Where is the vision to look beyond the present fiscal policies? We have a huge fund of money - the Superfund. Yes, its supposed to be used for Super in the future - but what's the point of keeping that invested mainly overseas, when we have such need at home? Use this fund now to repair our infrastructure and give young ones some hope of living here. Look after our young and many of the problems downstream may well disappear
Labour still stuck in ad hoc programs rather than developing a comprehensive architecture of policies. Plus the gaming announcement today. Who is advising them? At least the greens have a raft of policies designed to work together.
Plus, should be using electricity assets to solve the energy problem.
Given the increase in rates and insurance, at best a flat property market, and interest rates unlikely to get much lower now, there is not much incentive to hold property. A lot of the population cannot afford to buy property at its current multiple of income cost. Add this to the fact that the older population may want to liquidize their property holdings in their retirement, property may not be the golden investment that it has been in the past.
Owning residential property is not a business and should not have the ability to deduct interest costs from operational expenses unless it is a business. If it is a business, then GST should be paid on purchases and charges and administrative time accounted for.
As far as the future fund is concerned it is nice to see a political party trying to promote and invest in NZ. Way better than slash and burn the place to the ground by selling any assets stripping natural resources for the benefit of international corporations and punishing the resident work force!
Is it Chris Hipkins holding them back? I like him a lot but he seems such a fence sitter and dare I say it insipid. I have have seen Barbara Edmonds talk and she seemed far more interesting and progressive 18 months ago. I am a Labour Party Supporter, however feeling a little underwhelmed at the moment, they need to up the game and quickly. The thought of this current government for another three years after next year.....aaagh.
Initially when I saw the announcement I went Yay!!! finally Labour has a plan of sorts. Now having heard and read your commentary I think disappointed. There seems such an obvious way ahead with Sovereign credit that with a little tweak this idea of Labours could be gold for our futures
I think Labour are pitching their policies to those who don't understand the sovereign currency and believe the 40 years of neoliberalism that told them debt us bad and we have no money.
Unless you are a member and put your time in to convince them differently there's no reason to be disappointed. Its not a bad policy, just not as good as some of us would have liked it to be.
But it gives people reason to vote Labour because they are talking about investing in NZ, giving them a point of difference to the current cruelty.
I will still vote Greens as they align better with what I think should be done and hope that they will have some bottom lines to forming a govt with Labour.
Please allow sharing with the written version with the public. Your analysis of this policy proposal and how NZ government could do things so much better is spot on.