I’m interested in other people’s thoughts on the fair way to tax capital. Ianmac yesterday linked to The Opportunity Party’s release on their proposed capital tax (which doesn’t have much detail). On the assumption that it’s similar to the Comprehensive Capital Income Tax that Gareth Morgan has proposed before, I’d be worried about the following unintended consequences. http://www.top.org.nz/top1?utm_campaign=top1_members&utm_medium=email&utm_source=garethmorgan
1) Social effects on the housing asset rich/cash poor. Suggested mitigations are unconvincing to me. While this is likely to be the focus of most debate, right now I’m more interested in other aspects listed below.
2) May cause collapse of businesses that would otherwise survive, from the ongoing extra cashflow required to service the capital tax.
3) Discourages foreign investment. Why would any business want to set up where they start getting taxed long before they earn a penny of profit?
4) Favours low-capital businesses, and discourages businesses from investing more capital per worker. This is already a problem causing low productivity in New Zealand, do we want to make it worse?
5) Because land is such a high-capital item, it would push farmers towards a high-intensity high-input farming model. Which is a high-pollution low-resilience model, exactly the opposite of what we want.
6) No models to learn from elsewhere. Canada had some (at much lower rates), but those seem to have been abolished.
7) Encourages the use of debt to reduce the amount of liable capital for taxation.
Personally I favour a capital gains tax on all assets (including the family home, but with a rollover provision for family homes), payable whenever there’s any kind of change of ownership of the asset. There’s plenty of examples from other jurisdictions to learn from. It’s not much of a hassle to comply (I paid Capital Gains Tax on my primary home in the US), and while it’s slow to start collecting revenue eventually it reaches the point of fairly catching income from capital.
Yes I’m keen for a UBI and then look at how to tax it as a secondary issue. So it seems crazy to me that UBI is not the main focus.
I think there needs to be a radical change to taxation to make sure that everyone has to pay their share. There are so many loop holes at present it makes it easy for those with more money and access to tax experts to avoid taxes. We need new ideas because the old ones only tax the middle and seem to avoid the super rich and global citizens.
We are having situations when banks are causing GFC being bailed out by tax payers and then being allowed to go on as usual and still make the rules on what’s fair to tax.
At the same time there seems to be a very punitive punishment approach to government taxation – at the end of the day it should be like a non profit co operative insurance scheme – you put money in – and then there is a basic level nobody is allowed to fall below (UBI) and then you need enough from everybody to make sure that the bills on health, education and so forth are met.
The whole premise of governments seem to be skewed with neoliberalism – that’s why we can afford Saudi sheep bribes for millions but put more and more hoops in for the most vulnerable to stop them getting a basic benefit. Wellington council can afford to pay Singapore airlines 8 million, Auckland wants to steal the harbour and put it into COO hands, but at the same time they are obsessed with cutting basic services like libraries, rubbish and keeping the berms mowed – because we can’t afford it.
Tax on the gain at sale, arbitrary taxes on capital can penalise many for holding over a long term gain with zero intent to gain from any sale or sell at all.
The funds exist from the sale and it clips the ticket as the punter has realised the profit. Effectively a transaction based tax, much easier to enforce as holdings can be hidden very easily.
Oz has had this type of CGT since the 80’s and you don’t see their right rushing to repeal it being a lot more mature in their economic management than ours.
Some other jurisdictions have loopholes that allow avoiding capital gains taxes by such means as gifting assets to a trust, gifting assets to a charity and claiming a tax credit for the full value of the asset. Which is why I said “payable whenever there’s any kind of change of ownership”.
I like it – it only charges tax for assets that aren’t already generating sufficient taxable income to meet the threshold, so people are encouraged to use capital better. Assuming GST or income tax are reduced to offset it, most people, including most homeowners, would be better off in terms of disposable income.
Agreed, though some provision would have to be made for businesses which, though they would normally run profitably, happen to make a loss, whether through bad luck or poor management. The trouble is, many will find ways of taking advantage of such provision to avoid the tax.
” it only charges tax for assets that aren’t already generating sufficient taxable income to meet the threshold”
Do you really think it’s good to further reinforce the idea that the only value anything has is for the income that can be generated from it?
I’m also aware of several farms and small businesses where the owners are running them in a low key way just generating enough income to keep happy and not really trying to maximise returns. They’re also unusually good at looking after their staff and surroundings. Under a capital tax regime, they would become totally non-viable as is and would either need to close or start operating in a much more ruthless manner.
Do we really want to force that choice? Particularly if the alternative CGT achieves the same result in the end of getting the beneficiaries of asset price growth to share some of the gains with the society that makes those gains possible?
I’ve only read his policy document Andre so I don’t know the finer points but it looks like typical Morgan to me where he gets a bee in his bonnet and takes it too far.
With houses he appears to be targeting freehold owner-occupiers rather than investors/landlords or even those with a mortgage. His basic premise is that living in a freehold house is a form of income and should be taxed because the capital invested in the house would be taxed in any other investment scenario.
Now for those who have a mortgage it would be rather complicated to work out what their capital actually is before you could tax it. The property itself isn’t the capital, they’ve borrowed to buy it. Their capital would either be the equity or the deposit plus principal paid off. Working out the equity would be a nightmare with oodles of loopholes that investors would exploit to minimise their tax…. like they do already.
I can’t see it solving anything and it would make the system messier. A capital gains tax levied annually on investment properties is all that’s required IMO.
“A capital gains tax levied annually on investment properties is all that’s required IMO.”
A higher rates calculation on investment properties could be used to provide a social housing fund at local government level, and would be fairly easy to implement. If the owner is not occupying the property, the rates kick in at a different level. Rates are already taxing property owners, what this would do is increase that tax in recognition of the capital gains that landlords benefit from, that single home buyers and renters do not.
The reason I would exclude the owner occupied property is that investors are able to claim maintenance and other expenses (including interest paid) on their properties that owner occupiers must meet out of their income.
Rate are already a tax on property ownership.
Increased rates on investment properties recognise the anomaly above, and provide a social housing fund that increases locally as number of renters increase.
The reason I would exclude the owner occupied property is that investors are able to claim maintenance and other expenses (including interest paid) on their properties that owner occupiers must meet out of their income.
Have you considered that being able to claim expenses for tax purposes is the problem?
If tenants had better security of tenancy, and a comprehensive method of ensuring that all maintenance needs are met in a timely manner – I’d consider agreeing with you. But the likelihood is that if maintenance and repairs were not able to be expensed then a large number of landlords (especially in this housing climate) would avoid paying out for as long as possible.
Not all homeowners are speculative purchasers.
My partner and I bought a home for reasons other than capital gain. Stability of housing for one ( had been moved on from rentals due to increased rents more than once).
But owning also provided the opportunity to do other things that are unable to be done in a lot of rented homes:
– Planting trees and gardens,
– Having several people staying with us over the years while they get on their feet,
– Looking after family pets for friends and family while they go away.
None of this would be possible in a rented home, unless we were very lucky to find a very relaxed and accommodating landlord.
Any more taxing on a household like ours (especially for capital gains that we have no practical or financial benefit from unless we sell and don’t require another home), and our precarious balance of finances would break.
But the likelihood is that if maintenance and repairs were not able to be expensed then a large number of landlords (especially in this housing climate) would avoid paying out for as long as possible.
They’re called slumlords and they already exist and are in NZ.
None of this would be possible in a rented home, unless we were very lucky to find a very relaxed and accommodating landlord.
And what if you had a state rental that was lifetime lease, allowed you to plant trees, gardens and do renovations as well as kept the place well maintained?
Again, all the problems that people have with rentals and the tax regime that allows a few to dodge paying tax is private ownership.
“And what if you had a state rental that was lifetime lease, allowed you to plant trees, gardens and do renovations as well as kept the place well maintained?
If that were possible Draco, I’d be living there.
But until we have a cross party consensus on the importance of affordable, healthy, secure housing, we will continue to have our communities broken up. For the moment, I – and many others do what we can with what we have.
I don’t think that’s necessary Molly. Simply assessing them for tax each year, and collecting it, would do the trick IMO.
As it stands investors are leveraging off their capital gains to borrow more money to buy more properties. If they had to pay tax on those gains they’d instead be borrowing a third of it to pay the tax. That would lower the demand for property and get the housing inflation down…. and boost the tax coffers.
Morgan’s scheme looks unworkable to me, can’t say I’m taken with the theory either but its the practice that looks unwinnable.
1. Seems reasonable to me.
2. Businesses are supposed to collapse if they can’t maintain themselves. That’s the whole point of capitalism. It’s not up to the rest of us to keep them going.
3. Foreign investment needs to be banned as it’s detrimental to society.
4. No it doesn’t. If anything, it encourages high capital investment as the high investment is more likely to return greater amounts. It’s our low wages that are encouraging low capital investment now.
5. We already have that happening now. The solution is proper regulation.
6. So we should never try new ideas?
7. I’m pretty sure that Morgan has an answer to that as well.
Personally I favour a capital gains tax on all assets
I think that Morgan’s CCT is a much better idea. Done well it would make it impossible to be asset rich, cash poor which would be good for the economy and our society.
There’s plenty of examples from other jurisdictions to learn from.
Yeah, there are. One of those lessons is that a standard CGT doesn’t really work.
To be honest Draco, I was expecting you to advocate getting rid of private ownership completely and then the question becomes moot. 🙂
“One of those lessons is that a standard CGT doesn’t really work.”
What do you mean by works? No, a CGT on it’s own doesn’t prevent bubbles. All I really see it doing is helping make sure the owners of capital eventually contribute something towards the society that helps those assets increase in value. Collecting it at time of sale (when the sellers have the cash in hand) doesn’t feel punitive in the way the proposed CCT (or the existing FIF tax) does feel punitive by demanding the payment whether or not you’ve got the cashflow to support it. ( I realise you would be all for setting up systems that made asset-holders feel punished regularly, but trust me very few people agree with you on that).
“So we should never try new ideas?”. When we try to reinvent a wheel, it seems we regularly come unstuck with all kinds of unintended consequences. If there’s models from elsewhere we can learn from, why not copy the best aspects?
Doesn’t prevent bubbles and doesn’t prevent the rich from avoiding their obligations.
All I really see it doing is helping make sure the owners of capital eventually contribute something towards the society that helps those assets increase in value.
Do they truly increase in value?
Collecting it at time of sale (when the sellers have the cash in hand) doesn’t feel punitive in the way the proposed CCT (or the existing FIF tax) does feel punitive by demanding the payment whether or not you’ve got the cashflow to support it.
That’s part and parcel of our chosen market system. If you don’t have the cash then you just don’t have the item.
I realise you would be all for setting up systems that made asset-holders feel punished regularly
Completely wrong. I want to make it so that people can’t afford to have can’t assets in the first place.
If there’s models from elsewhere we can learn from, why not copy the best aspects?
I’d say that Morgan’s CCT is based upon the old CGT. What you’re saying is that we shouldn’t try this small change because it hasn’t been done before. Under such stupidity the wheel would never have been invented.
“I’d say that Morgan’s CCT is based upon the old CGT. What you’re saying is that we shouldn’t try this small change because it hasn’t been done before. Under such stupidity the wheel would never have been invented.”
Morgan’s CCT is very close to the Foreign Investment Fund tax introduced by Cullen, as far as I can tell. I pay it every year, and it’s a real pain and I certainly wouldn’t make any new investment into anything covered by it.
I’ve also paid Capital Gains taxes in the US (and will again in the future unless Trump manages to do away with them). It’s only a minor hassle, and doesn’t feel unfairly punitive the way the FIF tax does. Potential liability for CG taxes certainly wouldn’t stop me investing in something.
“Fake news” is a specific subset of the attempted deceptions around us all the time, but the pushers and beneficiaries of fake news are trying make the idea of fake news meaningless by calling everything fake news.
It all just reinforces the importance of fact-checking, researching the credibility of the source, keeping the bullshit detector on high alert at all times, looking at everything with a cynical view that some agenda is being pushed.
“On Twitter, some were quick to suggest the President Elect followed in the company of Hitler, Stalin and Putin who had also received the iconic title.
… The magazine’s annual award names the person who has had the “greatest influence, for better or worse, on the events of the year”.
German Chancellor Angela Merkel, The Ebola Fighters, The Pope, President Obama, Mark Zuckerberg, Former President George W Bush, and Julian Assange have also won the title before.”
“On Twitter, some were quick to suggest the President Elect followed in the company of Hitler, Stalin, George W. Bush, Putin, and Obama who had also received the iconic title.”
—There you go, Marty, I’ve fixed up that first sentence to remove the reflexive self-censorship and dishonesty.
A near perfect summation – from an Australian, in a British newspaper – of John Key and John Key’s New Zealand.
“…Key was like a Tony Blair of the South Seas: a certain level of personal charisma and a socially inclusive façade allowed both Key and Blair to sell the nasty side of neoliberalism…”
You’d never get NZ political journalists with insight like this. As their reactions of shock indicate, most of them were firmly besotted by John Key’s cham right to the moment he basically told them to all fuck off.
So what was the nasty side of neo-liberalism he was selling?
High growth rate (3.4%)
Low unemployment (less than 5%)
Budget surpluses
NZers returning home
Infrastructure spending
Majority of NZers saying the country is going in right direction
So long as the Left are obsessed by the term “neo-liberalism,” they will loose. It shows a disconnect with the mood of the public.
If you want to win focus on the pragmatic, the things that actually influence voters, not ideological labels.
You really do talk tosh. You need to pay a lot more attention to world events Wayne.
The supporters of the neoliberal establishment have been in trouble all this year.
Heard of Brexit?
Heard of Trump?
Heard of the Italian referendum?
It is clearly the supporters of the neo-liberal establishment who have been shown in 2016 to have a disconnect with the mood of the public.
Here is some reading for you…on the assumption you are actually uninformed as opposed to willfully spinning on behalf of your masters.
Did you read the piece that Sanctuary linked? It not only critiques John Key’s leadership, it also briefly explores the prevailing narrative that fed his popularity, …they kept voting Key in because they believed in the equation that “good with money” equals “morally upstanding” and further suggested that the left will only gain traction when they are able to successfully counter this idea. According to the author, …this money story not only has currency, it is the currency of the reigning monetarist fiscal discourse.
One alternative story is to return “the broader public good’ to the position that “the monetarist fiscal discourse” now occupies. Your list suggests that the public good is being served within the current framework, but that is only true if you draw the line firmly behind the heels of the comfortable middle class, and accept that hardship and insecurity for those outside of the fold is “worth it.” And since you tend to dismiss those who privilege the public good as “hard left” you can hardly complain if they dismiss your lot as “neoliberal.”
NZers returning home – To do with the fact that the global economy is failing perhaps, or maybe they are returning home on student visas.
Infrastructure spending – Is it effective infrastructure spending, or appropriate? Doesn’t seem to be the case.
Majority of NZers saying the country is going in right direction
I don’t understand how often this is used as justification. If, as a teenager I hid the underage drinking and jumping out the window from my parents, and then listened to them praise me, then I wouldn’t use that as approval of my behaviour – just blissful ignorance.
The lack of transparency and information sharing (not withstanding Dirty Politics and journalist shaming) by this government has resulted in the same.
Nothing to be proud of, and definitely not something to to try pass off as informed support.
The nasty side of neo-liberalism is apparent to all who value humans over economic growth, and community and environment over short-term profit and long-term consequences.
Growth driven by excessive immigration, housing price rises, and earthquakes. The real measure, per capita, is negative.
Unemployment is only low, because National counts one hour a week as employment.
Budget fudges. With current account and social deficits increased to cover it.
Infrastructure spending. I wish. Roads of significance to the trucking industry is similar to spending on buggy whip factories.
“Country going in right direction”. I have to congratulate National on the effectiveness of their propaganda. Even the Neo-liberal cheer leaders in treasury think National is heading for disaster.
Lastly. Key has headed for the lifeboats before the ship sinks.
Where are the Headlines? Surely there should be ones like:
National Party Leadership Battle splits Caucus!
Angry MPs Dispute Leadership Plans.
Leadership Battles Rips Caucus Apart.
Will be Years Before National Party Revives Credibility After Bitter Infighting.
Probably because its going to be over rather quickly, which is smart thinking on Nationals part. How can you really have those type of headlines when the result is going to be known on Monday/
Sure the ructions after will prove to be more then interesting but theres simply not enough time for those type of headlines to be used.
Love Granny propaganda (sarc) – even when the Leader resigned it’s all good press for Natz candidates. Not a peep about Collins and all her transgressions and Double dipper English!!
“Bennett said her relationship with English was “fantastic” and described him as “awe-inspiring”. The two work together on finance and social housing, and they are part of the top tier of ministers, called the “Kitchen Cabinet”. But English has also worked closely with Bridges on Auckland’s transport problems.
In a sign of a potentially tense contest, Bridges said he would make a better deputy than Bennett because he marked a complete generational change. Bridges came into Parliament three years later than Bennett, in 2008.”
In spite of this they still have to run spiteful anti Labour articles such as Claire Trevett’s
“100 not out: Labour party battles for its political future”
Yes true, I’m assuming it will be sorted by Monday, like its a fait accompli kind of thing especially since the next budget surplus is supposed to be a whopper
It might not of course, however if I was a betting man I’d bet it’ll be over on Monday…the puckish side of me would like to see it continue on for a while though 🙂
Bill at the helm of a leaking, bloated tanker heading for the reefs. His crew! Oh dear! And First Mate! A cargo of rancid fat and snake oil. Oh dear, oh dear!
Fortunately (unfortunately) there’s just enough momentum for the good ship National to make it to the port of the 2017 election win, thanks to a budget surplus and the assistance of the tugboat of NZFirst and the tugboat of another bye-election Labour can’t afford
After that there may be some slight cause for concern 🙂
It’s as though the All Blacks were facing their most critical test match and were reliant on their one star player upon whom success depended, let’s call him, “John Richie”, when an hour before kick off, John declares that he is not going to play, he’s talking his ball and going home, because his girlfriend want to spend quality time with him.
Yeah imagine what would happen to the All Blacks if Richie, Dan, Kevin, Tony, Ma’a and Conrad left all at the same time taking over 700 caps and all that experience with them 🙂
what you are eluding to might be true , if it wasn’t for the fact that the rugby equivalents of parmjeet ,misa fia and tobbacy todd wouldn’t make the taumarunui eels team let alone the the all blacks up incomers
Well I was linking the tier 1 test record to a record fourth term for National but please tell me you aren’t suggesting Labour is like the Irish rugby team
Well, the Irish team currently has a 50% win record against the All Blacks in its past two encounters (aren’t stats wonderful- a bit like Treasury and Budget figures).
The Irish team has charm, wit and size.
It embraces the whole of Irish society, north and south, inclusively.
Like the Left in general the Irish have got the best songs.
And lastly, they especially despise the English!
So, Puckish Rogue, in the best sense of fun, some great parallels between the NZ Labour Party and the Irish Rugby team of very recent history! 😉
Disclaimer: though my moniker is Mac1 there is no blarney or bias in this summation, at all at all at all.
I was speaking to a CYFS worker just yesterday, and those in her office are spending much of their time coming up to the holidays looking for motels to place children. When I asked who was there to provide caregiving, she shrugged her shoulders and said “Who?”.
Molly it’s all about physical assets, such as motels and the buying and selling of them. The actual social part of it, does not appear in the neoliberal manuals so just sort of falls off the radar. People are not considered assets under neoliberalism they are just vehicles of loss .
Similar to the conference centres (to create jobs but the job bit is the fudge, in fact rather than create jobs for locals you just import workers in because they are cheaper, then you have a housing crisis to solve to house all the new people etc), the homeless crisis, (rezone land and then let the market do ‘it’s thing’, the immediate housing is irrelevant), etc etc.
More grievous ignorance of sports history in the media. Morning Report, RNZ National, Thursday 8 December 2016, 8:25 a.m.
This morning featured a report from Indira Stewart of the Pacific Radio Network, stating that Joseph Parker and David Tua are the “only two New Zealanders to have ever fought for the World Heavyweight title.”
That is nonsense, of course. On Thursday 26 July 1928 Gisborne’s own Tom Heeney fought Gene Tunney for the title at Yankee Stadium. The fight was stopped in the 11th round.
Neither Susie Ferguson nor Guyon Espiner seemed to notice, and simply carried on with the next item.
For those who, unlike Indira Stewart, care to know something about boxing history, here’s a tape of the fight…
Assuming you don’t have access to the same resources RNZ have its an easy error to make, unless you come from Timaru of course in which case there’s no excuse 🙂
Ok then we’ll just turn a blind eye to the frauds then because somebody is making a short term buck and it will expose the governments underfunding of education, so they are doing nothing and leaving the short term housing issues and longer term problem of all our fraudster residents to another government … from Granny
“Yet it seems no one can really tackle the student visa rort because we now depend on it.
The country makes $4.28 billion a year from international students, our fourth biggest industry behind dairy, tourism and meat. Put aside legitimate questions over how much of that money stays in New Zealand and circulates in the wider economy, as opposed to the immigrants themselves. If we turned off the tap tomorrow – the Government’s nightmare scenario after the sudden collapse of the Chinese market in 2003 – many office buildings would be half empty and central Queen St would become a ghost town. Even reputable education providers would go broke and most polytechnics and universities could not make ends meet with domestic students alone. Economic activity would also take a hit, as international students are doing the difficult, low-paid jobs that most New Zealanders avoid – at least until the students get their residence visa.
In short, fundamental changes are unlikely to come from the top because too many powerful interests are benefiting from the current system, despite its obvious flaws. The only hope is for more honest people within the student visa scam to stand up and be counted.”
If we turned off the tap tomorrow … many office buildings would be half empty and central Queen St would become a ghost town. Even reputable education providers would go broke and most polytechnics and universities could not make ends meet with domestic students alone.
Gosh, that would be a disaster! Good job there’s no proposal on the table to ban international education outright then, eh? Cleaning up the industry would make it worth less, but would still leave universities, polytechs and schools teaching a lot of international students.
The actual reason the government won’t do anything about the scam is in this bit:
…international students are doing the difficult, low-paid jobs that most New Zealanders avoid – at least until the students get their residence visa.
That is, the success of this scam to bypass our immigration standards and ensure a supply of cheap, easily-exploited labour for National’s constituents, with downstream effects on local pay and conditions, is the government’s main reason for not cleaning up the international education “industry.”
“many office buildings would be half empty and central Queen St would become a ghost town.”
What happened to the cherished Number 8 approach to solving problems with innovation? Empty office buildings in Queen Street + homeless in Auckland should = conversion to family apartments and a community revitalisation of Auckland central.
As for the other, fund education to sustainable levels.
Gareth Morgan tells Paul Henry the truth.
And Paul Henry hates being shown up for being the selfish git he is.
Morgan to Henry…
“You’re telling me that you don’t give a toss about New Zealand being fair. ‘Pull up the ladder, Jack, and the rest of you can get stuffed’. What sort of New Zealand values do you have, man?”
“You’re just a tax loophole cowboy, that’s all you are,”
“I’m about making New Zealand fair. You’re self-centred and you don’t give a toss about being fair in New Zealand.”
“Don’t tell an economist what a reverse mortgage is mate.”
“In media soundbytes are important, that’s why your sort of media is dying mate.”
And Henry’s retort, with his expensive house, European car and entitled lifestyle threatened.
Morgan is a communist.
Watch it. It’s great to see the tosser Henry being dealt to.
Morgan needs to become less defensive when he’s discussing his party’s policies.
I certainly support his Comprehensive Capital Tax. If you have an asset that returns some benefit then it should be taxed at the commensurate income of that benefit.
I agree Morgan did not help his case, loosing his cool, playing the man not the ball, never a good look unless your of a Paul persuasion and just want to see Henery abused
I do not totally agree with Morgan, but at least he has us discussing these things, and his heart is in the right place.
I don’t see what a CCT can do, that conventional inheritance, income and CGT combined, along with getting rid of private trusts immunity from claims, cannot.
Only someone as truely ignorant as Henry, can have such confidence.
I don’t blame Morgan for getting annoyed with the bumptious twit.
I don’t see what a CCT can do, that conventional inheritance, income and CGT combined, along with getting rid of private trusts immunity from claims, cannot.
1. Gets rid of land banking. The land will have to produce an income year to year else it’s just going to cost too much. A CGT may get the tax once the land is sold but it doesn’t prevent it.
2. Encourages people living in large, expensive houses to shift into smaller houses with smaller land thus freeing up more land for housing thus encouraging density increases.
I don’t blame Morgan for getting annoyed with the bumptious twit.
Neither do I but he shouldn’t have shown it. His sitting back, hands tightly crossed before him shows that he’s on the defensive and is exactly the reaction that Henry was going for.
He needs to be able to sit there, calm, arms open, answer the questions and, yes, call Henry a bumbling, selfish idiot.
If he can’t handle Henry how is going to handle the rest of the pressure that’ll come, its all well and good to say what you think should happen and get nice media fluff pieces but hes thrown his hat in the ring and now what he says is going to be picked over with a fine tooth comb and he’d better be ready with some answers
No he doesn’t. and he’s most definitely not a communist. He’s very much a capitalist – he’s just one that sees many of the limitations that the way capitalism operates and how it doesn’t pay it’s full costs and puts those costs on the poor instead.
I’d have thought he wouldn’t have been stupid enough to include the family home in this, I can’t imagine any political party thinking that’s an idea the voters will go for, not even the Greens
Yes I’ve seen first hand how paranoid and touchy the entitled property class is about their inflating asset values.
They expect to sit on their million dollar+ houses and bank capital gains of 80K per year for ever. If anyone suggests this model is neither sustainable nor fair then they are shouted out of the room.
This unreasonable, greedy behaiour is sowing the seds of class war. I suppose this is the ugly side of Pakeha culture. They stole Aotearoa in the first place and now (like some kind of landed gentry), they expect the serfs to slave away paying high levels of tax and rent. Wealthy boomers have come to expect a well paid retirement with no means testing or CGT.
Well the average house price is $600 000.00 but please go ahead and suggest to the voters that taxing the family home, the house the retired have worked for entire lives to own (while paying taxes) is a really good idea
Why should some people (who have also worked their whole lives) have to keep paying high rents for ever, while others who managed to climb into property ownership get free accommodation and tax breaks and full super without any form of means test?
Not sustainable, not fair, and kinda gross in the middle of a housing crisis
what about Maori land Ropata… how many Maori (or Pakeha for that matter) have the income to pay yearly taxes on their capital?
All that will happen is what is already happening, Kiwis can’t afford to live in their own country with all the taxes and the low wages and foreigners will buy us up cheap.
That’s where Morgan’s ideas falls down.
I’m more into the Sanders and Corbyn approaches on Robin hood taxes on banks and transaction style taxes.
I am not a policy analyst nor am I a spokesperson for Morgans TOP vehicle. I just think he talks a lot of sense and in principle I agree with his fair minded ideas.
Morgan’s tax is aimed at the top few% of wealthy property holders who are banking tax free capital gains. He reckons his LVT will be either neutral or advantageous for most people because he will also drop income taxes.
Anyway I think this party is just a way for him to get the ideas of his Foundation into mainstream media. In the current volatile economic climate his is a vital counter narrative to the standard capitalist dogma we swim in.
Remember this is in the context of an unprecedented housing crisis, Morgan’s ideas are not cooked up in a vacuum.
I think he got frustrated that Henry kept coming up with stupid examples, but there was no need for Morgan to stoop to Henry’s level of childish insults.
Wow! a strange thing happened, somehow, somewhere, someone came to the conclusion that for true comparison of two different systems, they need to be measured with the same criteria.
But our favorite hologram disagrees, seems if there’s money involved, and a contract to enforce well…………. it’s just a bit confusing for the average Joe/Jane and at that point we should bow out and leave it to him and the other “experts”.
I was going to put up a link to the interview on Natard this morning with Paula Bennett and how she will make a truly awesome Dep Leader of the Natzional Party but the website appears to be having access problems….but never mind, I’ll do a Morrissey and give y’all a transcript.
Ms. Bennett….what qualities do you believe you have for the Deputy Leaders role?
hahahahahahahahahahahah….pause for gurgling breathhahahahahahahahahahah
This is a fascinating article about how a gunman attacked a pizza parlour in Washington after conspiracy theorists claimed Hilary Clinton was running a child sex operation out of it. It argues that mis-information is being used as a political tool.
In 1938 President Roosevelt warned that “the liberty of a democracy is not safe if the people tolerate the growth of private power to a point where it becomes stronger than their democratic state itself. That, in its essence, is fascism.” The Democrats saw concentrated corporate power as a form of dictatorship. They broke up giant banks and businesses and chained the chainstores. What Roosevelt, Brandeis and Patman knew has been forgotten by those in power, including powerful journalists. But not by the victims of this system.
One of the answers to Trump, Putin, Orbán, Erdoğan, Salvini, Duterte, Le Pen, Farage and the politics they represent is to rescue democracy from transnational corporations. It is to defend the crucial political unit that is under assault by banks, monopolies and chainstores: community. It is to recognise that there is no greater hazard to peace between nations than a corporate model that crushes democratic choice.
Since the 1980s we’ve let the corporations rule and it’s become obvious that it’s detrimental to us as a community.
So true, the NZ government was seduced and subverted in 1984 and now it’s become a schizoid institution that purports to represent the people of New Zealand, but is instead complicit in their exploitation.
It’s not exactly secret, all this has been well documented (see cafca.org.nz), but since it has been a slow and ongoing process the sale of NZ piece by piece to foreign interests doesn’t make the news cycle.
Just read the whole thing — how depressing. Maybe democracy was just a temporary aberration and the natural state of the human race is feudalism and internecine tribal conflict.
When the USA was founded corporations were deliberately outlawed because the founders had seen what they did to Europe. Sadly that didn’t last long
Democracy does seem to be more of an aberration with dictatorships and oligarchies ruling most of the time. Of course, the oligarchies and dictatorships always collapse due to the hubris and greed of the rich. And when they do we go back to being a democracy which then builds up society which the rich then take over and destroy.
It seems to be an iterative process as we learn more our democracy gets better but, unfortunately, we haven’t learned to prevent people from getting rich yet.
Thanks for that, xanthe. Don’t expect anything on this to appear on our television news this evening. (Time constraints due to extended banter between the autocue readers and the sports guy and the weather guy.)
The report showed Vanguard Military School on Auckland’s North Shore and Te Kura Hourua O Whangarei Terenga Paraoa reported they had met their 2014 NCEA leaver targets – but when the figures were analysed, they did not.
Vanguard reported a 100 per cent pass rate for NCEA Level 2. However, when revised in line with NCEA standards it dropped to just 60 per cent. It met Level 1 standards.
At Te Kura Hourua, neither Level 1 or Level 2 NCEA standards were met once revised: Level 1 dropped from 82 per cent to 77.8 per cent, and Level 2 dropped from 80 per cent to 55.6 per cent.
Labour Education spokesperson Chris Hipkins, who obtained the documents, said they showed charter schools have been “massively overstating” their pass rates when compared with the rest of the country’s schools.
A trust with close ties to the Government – including former All Black and National Party supporter Michael Jones – was given a $500,000 charter school contract. Photo / Jason Oxenham
Trust given $500,000 charter school contract without going to tender
Minister of Education Hon Hekia Parata. Photo / Dean Purcell
Charter schools getting performance bonus despite not meeting targets
I hate the concept of charter schools, but then I met Alwyn Poole. Photo / Steven McNicholl
Peter Lyons: Charter schools deeply flawed, but not this one
“In one case a school reported a 93.3 per cent pass rate when the facts show only 6.7 per cent of leavers achieved NCEA Level 2,” he said.
“Brought into line” means there’s been a corrupt system working and now it’s been outed.
Hekia Pariah and the Epsom Idiot have been spinning crap about it today to try to make people with ordinary intelligence believe it is something it wasn’t. I didn’t need to go to a charter school to recognise bullshit when I see it.
Ok so Little was safe until the next election because, lets all be honest now, Little was going to lose to Key but that was keeping him safe because anyone else would have to lost to Key as well
Now Keys gone and English is in charge, English who has lost before, English who isn’t exactly Mr Charisma, English who is beatable…Little might win and that’ll mean six years and then National will be back in so that’s a long time to wait if you’re an MP
But Little hasn’t improved Labours numbers, in fact it’d be fair to say Labours numbers, being positive, stagnating and if National don’t drop below 40% and NZFirst stay above 10% then that’s another term for National
So in light of the new developments is there someone in Labour that will answer the call to arms?
On a completely unrelated matter, what are the chances Robertson is going to be firing up the ol’ BBQ over Summer? 🙂
If there’s one thing to be learned from the Trump, Key, Cameron phenomena it is that policy is totally irrelevant and in fact it switches people off. What people vote for is a smiley wavey confident snake oil sales person. Even Obama and Trudeau benefited from this mindless herd behaviour. (Scott Adams made some excellent observations of Trump’s persuasion techniques and NLP type shit)
Maybe Labour needs to put up All Blacks and TV personalities instead of serious candidates.
I kind of agree with this but you’d be hard pressed to find a Labour supporting All Black although Chris Laidlaw is probably still hanging around if you want to use him
Labour is appearing more solid by the day, all the dead wood is being pruned game on pucky , the planet key lotus eaters will awake from their stupor in time for the right man to be the next PM.
i think they are addicted to the property price inflation koolaid and will keep drinking it until NZ sinks into the sea. or some other unthinkable disaster happens like “interest rates”
CV will be delighted to learn Trump’s rumored pick for FDA director reckons big pharma should release new drugs, whether they work or not.
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O’Neill also could push the agency in new directions. In a 2014 speech, he said he supported reforming FDA approval rules so that drugs could hit the market after they’ve been proven safe, but without any proof that they worked, something he called “progressive approval.”
“We should reform FDA so there is approving drugs after their sponsors have demonstrated safety — and let people start using them, at their own risk, but not much risk of safety,” O’Neill said in a speech at an August 2014 conference called Rejuvenation Biotechnology. “Let’s prove efficacy after they’ve been legalized.”
Hosking’s done his “Best PM Ever” shit now he’s checking out the Blinglish (invented word) ‘rectalia’. He’s a bit shameless with his rat-up-drainpipe styles is Hosk’.
Buzz from the Beehive A significant decline in natural gas production has given Resources Minister Shane Jones an opportunity to reiterate his enthusiasm for the mining and burning of coal. For good measure, he has praised an announcement from Genesis Energy that it will resume importing coal. He and Energy ...
“Follow the money” is the classic directive to journalists trying to understand where power and influence lie in society. In terms of uncovering who influences various New Zealand political parties and governments, it therefore pays to look at who is funding them. The political parties are legally obliged to make ...
Rob MacCullough writes – Here is my subjective ranking on a “most-left” to “most-right” scale of most of our major NZ Universities, with some anecdotal (and at times amusing) evidence to back up the claim.Extreme Left Auckland University of TechnologyEvidenceThe ...
Eric Crampton writes – I hadn’t thought about this one until a helpful email showed up in my inbox.It’s pretty obvious that income tax thresholds should automatically index with inflation – whether to anchor the thresholds in percentiles of the income distribution, or to anchor against a real ...
Jacqui Van Der Kaay writes – Parliament’s speaker had no option but to refer Green MP Julie Anne Genter to the Privileges Committee for her behaviour in the House last Wednesday evening. The incident, in which she crossed the floor to wave a book and yell at National ...
Gary Judd writes – The Dean of the law school at the Auckland University of Technology is someone called Khylee Quince. I have been sent her social media posting in which she has, over the LawNews headline “Senior King’s Counsel files complaint about compulsory tikanga Maori studies for ...
Cleo Paskal writes – WASHINGTON, D.C.: ‘Many of us have received phone calls from [the opposing camp] telling them if they join the camp they will be given projects for their wards and $300,000 [around US$35,000] each’, says former Malaita Premier Daniel Suidani. The elections in Solomon Islands aren’t ...
With hindsight, it was inevitable that (a) Hamas would agree to the ceasefire deal brokered by Egypt and Qatar and that ( b) Israel would then immediately launch attacks on Rafah, regardless. We might have hoped the concessions made by Hamas would cause Israel to desist from slaughtering thousands more ...
Placards and mourners outside the Kilbirnie Mosque following the Christchurch terror attack: MSD has terminated the Kaiwhakaoranga service, which has been used by 415 families since the attacks. Photo: Lynn GrievesonTL;DR: The Government’s pledge to only cut ‘back office’ staff rather than ‘frontline’ services is on increasingly shaky ground, with ...
There’s been a few smaller public transport announcements over the last week or so that I thought I’d cover in a single post. Fareshare I’ve long called for Auckland Transport to offer a way to enable employer-subsidised public transport options. The need for this took on even more importance ...
Parliament’s speaker had no option but to refer Green MP Julie Anne Genter to the Privileges Committee for her behaviour in the House last Wednesday evening. The incident, in which she crossed the floor to wave a book and yell at National Minister Matt Doocey, reflects poorly on Genter and ...
On February 14, 2023 we announced our Rebuttal Update Project. This included an ask for feedback about the added "At a glance" section in the updated basic rebuttal versions. This weekly blog post series highlights this new section of one of the updated basic rebuttal versions and serves as a ...
Who likes being sneered at? Nobody. Worse yet, when the sneerer has their facts all wrong, and might well be an idiot.The sneer in question is The adults are in charge now, and it is a sneer offered in retort to criticism of this new Government, no matter how well ...
When in government, Labour pushed to extend the Parliamentary term to four years, to reduce accountability and our ability to vote out a bad government. And now, they're trying to do it through the member's ballot, with a Four-Year Parliamentary Term Legislation Bill. The bill at least requires a referendum ...
A ballot for a single Member's Bill was held today, and the following bill was drawn: Public Works (Prohibition of Compulsory Acquisition of Māori Land) Amendment Bill (Hūhana Lyndon) The bill would prevent the government from stealing Māori land in breach of Te Tiriti o Waitangi. It ...
Simeon Brown, alongside Wayne Brown, is favouring a political figleaf now in exchange for loading up tens of millions in extra interest costs on Auckland ratepayers. Photo: Lynn GrievesonTL;DR: Ratings agency Standard & Poor’s is pushing back hard at suggestions from Local Government Minister Simeon Brown and Mayor Wayne Brown ...
Buzz from the Beehive One headline-grabber from the Beehive yesterday was the OECD’s advice that the government must bring the Budget deficit under control or face higher interest rates. Another was the announcement of a $1.9 billion “investment” in Corrections over the next four years. In the best interests of ...
Chris Trotter writes – Had Zheng He’s fleet sailed east, not west, in the early Fifteenth Century, how different our world would be. There is little reason to suppose that the sea-going junks of the Ming Dynasty, among the largest and most sophisticated sailing vessels ever constructed, would have failed ...
David Farrar writes – Two articles give a useful contrast in balance. Both seek to be neutral explainer articles. This one in the Herald on Social Investment covers the pros and cons nicely. It links to critical pieces and talks about aspects that failed and aspects that are more ...
The tikanga regulations will compel law students to be taught that a system which does not conform with the rule of law is nevertheless law which should be observed and applied…Gary Judd KC writes – I have made a complaint to Parliament’s Regulation ...
The future of Te Huia, the train between Hamilton and Auckland, has been getting a lot of attention recently as current funding for it is only in place till the end of June. The government initially agreed to a five year trial, through to April 2026, but that was subject ...
TL;DR: Hamas has just agreed to Israel’s ceasefire plan. Nelson hospital’s rebuild has been cut back to save money. The OECD suggests New Zealand break up network monopolies, including in electricity. PM Christopher Luxon’s news conference on a prison expansion announcement last night was his messiest yet.Here’s my top six ...
A homicide in Ponsonby, a manhunt with a killer on the run. The nation’s leader stands before a press conference reassuring a frightened nation that he’ll sort it out, he’ll keep them safe, he’ll build some new prison spaces.Sorry what? There’s a scary dude on the run with a gun ...
Hi,I know it’s been awhile since there’s been any Webworm merch — and today that all changes!Over the last four months, I’ve been working with New Zealand artist Jess Johnson to create a series of t-shirts, caps and stickers that are infused with Webworm DNA — and as of right ...
The OECD’s chief economist yesterday laid it on the line for the new Government: bring the deficit under control or face higher Reserve Bank interest rates for longer. And to bring the deficit under control, she meant not borrowing for tax cuts. But there was more. Without policy changes—introducing a ...
After a hiatus of over four months Selwyn Manning and I finally got it together to re-start the “A View from Afar” podcast series. We shall see how we go but aim to do 2 episodes per month if possible. … Continue reading → ...
In 2008, the UK Parliament passed the Climate Change Act 2008. The law established a system of targets, budgets, and plans, with inbuilt accountability mechanisms; the aim was to break the cycle of empty promises and replace it with actual progress towards emissions reduction. The law was passed with near-universal ...
Buzz from the Beehive Local Water Done Well – let’s be blunt – is a silly name, but the first big initiative to put it into practice has gone done well. This success is reflected in the headline on an RNZ report:District mayors welcome Auckland’s new water deal with ...
This is a re-post from Yale Climate ConnectionsA farmworker cleans the solar panels of a solar water pump in the village of Jagadhri, Haryana Country, India. (Photo credit: Prashanth Vishwanathan/ IWMI) Decisions made in India over the next few years will play a key role in global ...
Lindsay Mitchell writes – The Children’s Minister, Karen Chhour, intends to repeal Section 7AA from the Oranga Tamariki Act 1989 because it creates conflict between claimed Crown Treaty obligations and the child’s best interests. In her words, “Oranga Tamariki’s governing principles and its act should be colour ...
Geoffrey Miller writes – The gloves are off. That might seem to be the undertone of surprisingly tough talk from New Zealand’s foreign and trade ministers. Winston Peters, the foreign minister, may be facing legal action after making allegations about former Australian foreign minister Bob Carr on Radio New Zealand. ...
Brian Easton writes – This is about the time that the Treasury will be locking up its economic forecasts to be published in the 2024 Budget Economic and Fiscal Update (BEFU) on budget day, 30 May. I am not privy to what they will be (I will report on them ...
TL;DR:Winston Peters is reported to have won a budget increase for MFAT. David Seymour wanted his Ministry of Regulation to be three times bigger than the Productivity Commission. Simeon Brown is appointing a Crown Monitor to Watercare to protect the Claytons Crown Guarantee he had to give ratings agencies ...
The gloves are off. That might seem to be the undertone of surprisingly tough talk from New Zealand’s foreign and trade ministers. Winston Peters, the foreign minister, may be facing legal action after making allegations about former Australian foreign minister Bob Carr on Radio New Zealand. Carr had made highly ...
I could be a florist'Round the corner from Rye LaneI'll be giving daisies to craziesBut, baby, I'll wrap you up real safe Oh, I can give you flowers At the end of every dayFor the center of your table, a rainbowIn case you have people 'round to stay Depending on ...
TL;DR: The six key events to watch in Aotearoa-NZ’s political economy in the week to May 12 include:PM Christopher Luxon is scheduled to hold a post-Cabinet news conference at 4 pm today. Finance Minister Nicola Willis will give a pre-budget speech on Thursday.Parliament sits from Question Time at 2pm on ...
The price of the foreign affairs “reset” is now becoming apparent, with Defence set to get a funding boost in the Budget. Finance Minister Nicola Willis has confirmed that it will be one of the few votes, apart from Health and Education and possibly Police, which will get an increase ...
A listing of 26 news and opinion articles we found interesting and shared on social media during the past week: Sun, April 28, 2024 thru Sat, May 4, 2024. Story of the week "It’s straight out of Big Tobacco’s playbook. In fact, research by John Cook and his colleagues ...
Yesterday I received come lovely feedback following my Star Wars themed newsletter. A few people mentioned they’d enjoyed reading the personal part at the beginning.I often begin newsletters with some memories, or general thoughts, before commencing the main topic. This hopefully sets the mood and provides some context in which ...
April 30 was going to be the day we’d be calling Mum from London to wish her a happy birthday. Then it became the day we would be going to St. Paul's at Evensong to remember her. The aim of the cathedral builders was to find a way to make their ...
Rob MacCulloch writes – Can’t remember the last book by a Kiwi author you read? Think the NZ government should spend less on the arts in favor of helping the homeless? If so, as far as Newsroom is concerned, you probably deserve to be called a cultural ignoramus ...
Eric Crampton writes – Grudges are bad. Better to move on. But it can be fun to keep a couple of really trivial ones, so you’re not tempted to have other ones. For example, because of the rootkit fiasco of 2005, no Sony products in our household. ...
A new report warns an estimated third of the adult population have unmet need for health care.Photo: Lynn Grieveson / The KākāHere’s the six key things I learned about Aotaroa’s political economy this week around housing, climate and poverty:Politics - Three opinion polls confirmed support for PM Christopher Luxon ...
Today is May the fourth. Which was just a regular day when my mother took me to see the newly released Star Wars at the Odeon in Rotorua. The queue was right around the corner. Some years later this day became known as Star Wars Day, the date being a ...
Buzz from the Beehive Much more media attention is being paid to something Winston Peters said about former Australian Foreign Minister Bob Carr than to a speech he delivered to the New Zealand China Council. One word is missing from the speech: AUKUS. But AUKUS loomed large in his considerations ...
Is the economy in another long stagnation? If so, why?This is about the time that the Treasury will be locking up its economic forecasts to be published in the 2024 Budget Economic and Fiscal Update (BEFU) on budget day, 30 May. I am not privy to what they will be ...
The annual list of who's been bribing our politicians is out, and journalists will no doubt be poring over it to find the juiciest and dirtiest bribes. The government's fast-track invite list is likely to be a particular focus, and we already know of one company on the list which ...
In the weeks after the October 7 Hamas attacks on Southern Israel I wrote about the possible 2nd, 3rd and even 4th order effects of the conflict. These included new fronts being opened in the West Bank (with Hamas), Golan … Continue reading → ...
Peter Dunne writes – It is one of the oldest truisms that there is never a good time for MPs to get a pay rise. This week’s announcement of pay raises of around 2.8% backdated to last October could hardly have come at a worse time, with the ...
David Farrar writes – Newshub reports: Newshub can reveal a fresh allegation of intimidation against Green MP Julie-Anne Genter. Genter is subject to a disciplinary process for aggressively waving a book in the face of National Minister Matt Doocey in the House – but it’s not the first time ...
The Treasury has published a paper today on the global productivity slowdown and how it is playing out in New Zealand: The productivity slowdown: implications for the Treasury’s forecasts and projections. The Treasury Paper examines recent trends in productivity and the potential drivers of the slowdown. Productivity for the whole economy ...
Winston Peters’ comments about former Australian foreign minister look set to be an ongoing headache for both him and Luxon. Photo: Lynn Grieveson / The KākāTL;DR: The podcast above of the weekly ‘hoon’ webinar for subscribers features co-hosts and , along with regular guests on Gaza and ...
These puppet strings don't pull themselvesYou're thinking thoughts from someone elseHow much time do you think you have?Are you prepared for what comes next?The debating chamber can be a trying place for an opposition MP. What with the person in charge, the speaker, typically being an MP from the governing ...
The land around Lyme Regis, where Meryl Streep once stood, in a hood, on the Cobb, is falling into the sea.MerylThe land around Lyme Regis, around the Cobb that made it rich, has always been falling slowly but surely into the sea. Read more ...
Buzz from the Beehive Foreign Affairs Minister Winston Peters was bound to win headlines when he set out his thinking about AUKUS in his speech to the New Zealand Institute of International Affairs. The headlines became bigger when – during an interview on RNZ’s Morning Report today – he criticised ...
The Post reports on how the government is refusing to release its advice on its corrupt Muldoonist fast-track law, instead using the "soon to be publicly available" refusal ground to hide it until after select committee submissions on the bill have closed. Fast-track Minister Chris Bishop's excuse? “It's not ...
As pressure on it grows, the livestock industry’s approach to the transition to Net Zero is increasingly being compared to that of fossil fuel interests. Photo: Lynn Grieveson / Getty ImagesTL;DR: Here’s the top five news items of note in climate news for Aotearoa-NZ this week, and a discussion above ...
The New Zealand Herald reports – Stats NZ has offered a voluntary redundancy scheme to all of its workers as a way to give staff some control over their “future” amidst widespread job losses in the public sector. In an update to staff this morning, seen by the Herald, Statistics New Zealand ...
On Werewolf/Scoop, I usually do two long form political columns a week. From now on, there will be an extra column each week about music and movies. But first, some late-breaking political events:The rise in unemployment numbers for the March quarter was bigger than expected – and especially sharp ...
David Farrar writes – The Herald reports: TVNZ says it is dealing with about 50 formal complaints over its coverage of the latest 1News-Verian political poll, with some viewers – as well as the Prime Minister and a former senior Labour MP – critical of the tone of the 6pm report. ...
Muriel Newman writes – When Meridian Energy was seeking resource consents for a West Coast hydro dam proposal in 2010, local Maori “strenuously” objected, claiming their mana was inextricably linked to ‘their’ river and could be damaged. After receiving a financial payment from the company, however, the Ngai Tahu ...
Alwyn Poole writes – “An SEP,’ he said, ‘is something that we can’t see, or don’t see, or our brain doesn’t let us see, because we think that it’s somebody else’s problem. That’s what SEP means. Somebody Else’s Problem. The brain just edits it out, it’s like a ...
Our trust in our political institutions is fast eroding, according to a Maxim Institute discussion paper, Shaky Foundations: Why our democracy needs trust. The paper – released today – raises concerns about declining trust in New Zealand’s political institutions and democratic processes, and the role that the overuse of Parliamentary urgency ...
This article was prepared for publication yesterday. More ministerial announcements have been posted on the government’s official website since it was written. We will report on these later today …. Buzz from the BeehiveThere we were, thinking the environment is in trouble, when along came Jones. Shane Jones. ...
New Zealand now has the fourth most depressed construction sector in the world behind China, Qatar and Hong Kong. Photo: Lynn Grieveson / The KākāTL;DR: These are the six things that stood out to me in news and commentary on Aotearoa-NZ’s political economy at 8:46am on Thursday, May 2:The Lead: ...
David Seymour has failed to get the sweeping cuts he wanted to the free and healthy school lunch programme, Labour education spokesperson Jan Tinetti said. ...
Hon Willie Jackson has been invited by the Oxford Union to debate the motion “This House Believes British Museums are not Very British’ on May 23rd. ...
Green Party MP Hūhana Lyndon says her Public Works (Prohibition of Compulsory Acquisition of Māori Land) Amendment Bill is an opportunity to right some past wrongs around the alienation of Māori land. ...
A senior, highly respected King’s Counsel with decades of experience in our law courts, Gary Judd KC, has filed a complaint about compulsory tikanga Māori studies for law students - highlighting the utter depths of absurdity this woke cultural madness has taken our society. The tikanga regulations will compel law ...
The Government needs to be clear with the people of the Nelson Marlborough region about the changes it is considering for the Nelson Hospital rebuild, Labour health spokesperson Ayesha Verrall said. ...
Ministers must front up about which projects it will push through under its Fast Track Approvals legislation, Labour environment spokesperson Rachel Brooking said today. ...
The Government is again adding to New Zealand’s growing unemployment, this time cutting jobs at the agencies responsible for urban development and growing much needed housing stock. ...
With Minister Karen Chhour indicating in the House today that she either doesn’t know or care about the frontline cuts she’s making to Oranga Tamariki, we risk seeing more and more of our children falling through the cracks. ...
The Labour Party is saddened to learn of the death of Sir Robert Martin, a globally renowned disability advocate who led the way for disability rights both in New Zealand and internationally. ...
Labour is calling for the Government to urgently rethink its coalition commitment to restart live animal exports, Labour animal welfare spokesperson Rachel Boyack said. ...
Today’s Financial Stability Report has once again highlighted that poverty and deep inequality are political choices - and this Government is choosing to make them worse. ...
The Green Party is calling on the Government to do more for our households in most need as unemployment rises and the cost of living crisis endures. ...
Unemployment is on the rise and it’s only going to get worse under this Government, Labour finance spokesperson Barbara Edmonds said. Stats NZ figures show the unemployment rate grew to 4.3 percent in the March quarter from 4 percent in the December quarter. “This is the second rise in unemployment ...
The New Zealand Labour Party welcomes the entering into force of the European Union and New Zealand free trade agreement. This agreement opens the door for a huge increase in trade opportunities with a market of 450 million people who are high value discerning consumers of New Zealand goods and ...
The National-led Government continues its fiscal jiggery pokery with its Pharmac announcement today, Labour Health spokesperson Ayesha Verrall says. “The government has increased Pharmac funding but conceded it will only make minimal increases in access to medicine”, said Ayesha Verrall “This is far from the bold promises made to fund ...
This afternoon’s interim Waitangi Tribunal report must be taken seriously as it affects our most vulnerable children, Labour children’s spokesperson Willow-Jean Prime. ...
Te Pāti Māori are demanding the New Zealand Government support an international independent investigation into mass graves that have been uncovered at two hospitals on the Gaza strip, following weeks of assault by Israeli troops. Among the 392 bodies that have been recovered, are children and elderly civilians. Many of ...
Our two-tiered system for veterans’ support is out of step with our closest partners, and all parties in Parliament should work together to fix it, Labour veterans’ affairs spokesperson Greg O’Connor said. ...
Stripping two Ministers of their portfolios just six months into the job shows Christopher Luxon’s management style is lacking, Labour Leader Chris Hipkins said. ...
Tonight’s court decision to overturn the summons of the Children’s Minister has enabled the Crown to continue making decisions about Māori without evidence, says Te Pāti Māori spokesperson for Children, Mariameno Kapa-Kingi. “The judicial system has this evening told the nation that this government can do whatever they want when ...
It appears Nicola Willis is about to pull the rug out from under the feet of local communities still dealing with the aftermath of last year’s severe weather, and local councils relying on funding to build back from these disasters. ...
The Government is making short-sighted changes to the Resource Management Act (RMA) that will take away environmental protection in favour of short-term profits, Labour’s environment spokesperson Rachel Brooking said today. ...
Labour welcomes the release of the report into the North Island weather events and looks forward to working with the Government to ensure that New Zealand is as prepared as it can be for the next natural disaster. ...
The Labour Party has called for the New Zealand Government to recognise Palestine, as a material step towards progressing the two-State solution needed to achieve a lasting peace in the region. ...
Some of our country’s most important work, stopping the sexual exploitation of children and violent extremism could go along with staff on the frontline at ports and airports. ...
The Government’s Fast Track Approvals Bill will give projects such as new coal mines a ‘get out of jail free’ card to wreak havoc on the environment, Labour Leader Chris Hipkins said today. ...
The government's decision to reintroduce Three Strikes is a destructive and ineffective piece of law-making that will only exacerbate an inherently biased and racist criminal justice system, said Te Pāti Māori Justice Spokesperson, Tākuta Ferris, today. During the time Three Strikes was in place in Aotearoa, Māori and Pasifika received ...
Cuts to frontline hospital staff are not only a broken election promise, it shows the reckless tax cuts have well and truly hit the frontline of the health system, says Labour Health spokesperson Ayesha Verrall. ...
The Green Party has joined the call for public submissions on the fast-track legislation to be extended after the Ombudsman forced the Government to release the list of organisations invited to apply just hours before submissions close. ...
New Zealand’s good work at reducing climate emissions for three years in a row will be undone by the National government’s lack of ambition and scrapping programmes that were making a difference, Labour Party climate spokesperson Megan Woods said today. ...
Associate Education Minister David Seymour has today announced that the Government will be delivering a more efficient Healthy School Lunches Programme, saving taxpayers approximately $107 million a year compared to how Labour funded it, by embracing innovation and commercial expertise. “We are delivering on our commitment to treat taxpayers’ money ...
New research on the impacts of extreme weather on coastal marine habitats in Tairāwhiti and Hawke’s Bay will help fishery managers plan for and respond to any future events, Oceans and Fisheries Minister Shane Jones says. A report released today on research by Niwa on behalf of Fisheries New Zealand ...
Deputy Prime Minister and Foreign Minister Winston Peters will lead a broad political delegation on a five-stop Pacific tour next week to strengthen New Zealand’s engagement with the region. The delegation will visit Solomon Islands, Papua New Guinea, Vanuatu, New Caledonia, and Tuvalu. “New Zealand has deep and ...
There has been a material decline in gas production according to figures released today by the Gas Industry Co. Figures released by the Gas Industry Company show that there was a 12.5 per cent reduction in gas production during 2023, and a 27.8 per cent reduction in gas production in the ...
Defence Minister Judith Collins tonight announced the recipients of the Minister of Defence Awards of Excellence for Industry, saying they all contribute to New Zealanders’ security and wellbeing. “Congratulations to this year’s recipients, whose innovative products and services play a critical role in the delivery of New Zealand’s defence capabilities, ...
Welcome to you all - it is a pleasure to be here this evening.I would like to start by thanking Greg Lowe, Chair of the New Zealand Defence Industry Advisory Council, for co-hosting this reception with me. This evening is about recognising businesses from across New Zealand and overseas who in ...
It is a pleasure to be speaking to you as the Minister for Digitising Government. I would like to thank Akolade for the invitation to address this Summit, and to acknowledge the great effort you are making to grow New Zealand’s digital future. Today, we stand at the cusp of ...
New Zealand is urging both Israel and Hamas to agree to an immediate ceasefire to avoid the further humanitarian catastrophe that military action in Rafah would unleash, Foreign Minister Winston Peters says. “The immense suffering in Gaza cannot be allowed to worsen further. Both sides have a responsibility to ...
A new online data dashboard released today as part of the Government’s school attendance action plan makes more timely daily attendance data available to the public and parents, says Associate Education Minister David Seymour. The interactive dashboard will be updated once a week to show a national average of how ...
Foreign Minister Winston Peters has announced Rosemary Banks will be New Zealand’s next Ambassador to the United States of America. “Our relationship with the United States is crucial for New Zealand in strategic, security and economic terms,” Mr Peters says. “New Zealand and the United States have a ...
The Government is considering creating a new tier of minerals permitting that will make it easier for hobby miners to prospect for gold. “New Zealand was built on gold, it’s in our DNA. Our gold deposits, particularly in regions such as Otago and the West Coast have always attracted fortune-hunters. ...
Minister for Trade Todd McClay today announced that New Zealand and the United Arab Emirates (UAE) will commence negotiations on a free trade agreement (FTA). Minister McClay met with his counterpart UAE Trade Minister Dr Thani bin Ahmed Al Zeyoudi in Dubai, where they announced the launch of negotiations on a ...
New Zealand Sign Language Week is an excellent opportunity for all Kiwis to give the language a go, Disabilities Issues Minister Louise Upston says. This week (May 6 to 12) is New Zealand Sign Language (NZSL) Week. The theme is “an Aotearoa where anyone can sign anywhere” and aims to ...
Six tertiary students have been selected to work on NASA projects in the US through a New Zealand Space Scholarship, Space Minister Judith Collins announced today. “This is a fantastic opportunity for these talented students. They will undertake internships at NASA’s Ames Research Center or its Jet Propulsion Laboratory (JPL), where ...
New Zealanders will be safer because of a $1.9 billion investment in more frontline Corrections officers, more support for offenders to turn away from crime, and more prison capacity, Corrections Minister Mark Mitchell says. “Our Government said we would crack down on crime. We promised to restore law and order, ...
The OECD’s latest report on New Zealand reinforces the importance of bringing Government spending under control, Finance Minister Nicola Willis says. The OECD conducts country surveys every two years to review its members’ economic policies. The 2024 New Zealand survey was presented in Wellington today by OECD Chief Economist Clare Lombardelli. ...
The Government has delivered on its election promise to provide a financially sustainable model for Auckland under its Local Water Done Well plan. The plan, which has been unanimously endorsed by Auckland Council’s Governing Body, will see Aucklanders avoid the previously projected 25.8 per cent water rates increases while retaining ...
Foreign Minister Winston Peters discussed the need for an immediate ceasefire in Gaza, and enhanced cooperation in the Pacific with German Foreign Minister Annalena Baerbock during her first official visit to New Zealand today. "New Zealand and Germany enjoy shared interests and values, including the rule of law, democracy, respect for the international system ...
The Minister Responsible for RMA Reform, Chris Bishop today released his decision on four recommendations referred to him by the Western Bay of Plenty District Council, opening the door to housing growth in the area. The Council’s Plan Change 92 allows more homes to be built in existing and new ...
Thank you, John McKinnon and the New Zealand China Council for the invitation to speak to you today. Thank you too, all members of the China Council. Your effort has played an essential role in helping to build, shape, and grow a balanced and resilient relationship between our two ...
The Government is modernising insurance law to better protect Kiwis and provide security in the event of a disaster, Commerce and Consumer Affairs Minister Andrew Bayly announced today. “These reforms are long overdue. New Zealand’s insurance law is complicated and dated, some of which is more than 100 years old. ...
The coalition Government is refreshing its approach to supporting pay equity claims as time-limited funding for the Pay Equity Taskforce comes to an end, Public Service Minister Nicola Willis says. “Three years ago, the then-government introduced changes to the Equal Pay Act to support pay equity bargaining. The changes were ...
Structured literacy will change the way New Zealand children learn to read - improving achievement and setting students up for success, Education Minister Erica Stanford says. “Being able to read and write is a fundamental life skill that too many young people are missing out on. Recent data shows that ...
Trade Minister Todd McClay says Canada’s refusal to comply in full with a CPTPP trade dispute ruling in our favour over dairy trade is cynical and New Zealand has no intention of backing down. Mr McClay said he has asked for urgent legal advice in respect of our ‘next move’ ...
The rights of our children and young people will be enhanced by changes the coalition Government will make to strengthen oversight of the Oranga Tamariki system, including restoring a single Children’s Commissioner. “The Government is committed to delivering better public services that care for our most at-risk young people and ...
The Government is making it easier for minor changes to be made to a building consent so building a home is easier and more affordable, Building and Construction Minister Chris Penk says. “The coalition Government is focused on making it easier and cheaper to build homes so we can ...
New Zealand lost a true legend when internationally renowned disability advocate Sir Robert Martin (KNZM) passed away at his home in Whanganui last night, Disabilities Issues Minister Louise Upston says. “Our Government’s thoughts are with his wife Lynda, family and community, those he has worked with, the disability community in ...
Good evening – Before discussing the challenges and opportunities facing New Zealand’s foreign policy, we’d like to first acknowledge the New Zealand Institute of International Affairs. You have contributed to debates about New Zealand foreign policy over a long period of time, and we thank you for hosting us. ...
From today, passengers travelling internationally from Auckland Airport will be able to keep laptops and liquids in their carry-on bags for security screening thanks to new technology, Transport Minister Simeon Brown says. “Creating a more efficient and seamless travel experience is important for holidaymakers and businesses, enabling faster movement through ...
People with an interest in the health of Northland’s marine ecosystems are invited to a public meeting to discuss how to deal with kina barrens, Oceans and Fisheries Minister Shane Jones says. Mr Jones will lead the discussion, which will take place on Friday, 10 May, at Awanui Hotel in ...
Kiwi exporters are $100 million better off today with the NZ EU FTA entering into force says Trade Minister Todd McClay. “This is all part of our plan to grow the economy. New Zealand's prosperity depends on international trade, making up 60 per cent of the country’s total economic activity. ...
There are heartening signs that the extractive sector is once again becoming an attractive prospect for investors and a source of economic prosperity for New Zealand, Resources Minister Shane Jones says. “The beginnings of a resurgence in extractive industries are apparent in media reports of the sector in the past ...
The return of the historic Ō-Rākau battle site to the descendants of those who fought there moved one step closer today with the first reading of Te Pire mō Ō-Rākau, Te Pae o Maumahara / The Ō-Rākau Remembrance Bill. The Bill will entrust the 9.7-hectare battle site, five kilometres west ...
Energy Minister Simeon Brown has announced 25 new high-speed EV charging hubs along key routes between major urban centres and outlined the Government’s plan to supercharge New Zealand’s EV infrastructure. The hubs will each have several chargers and be capable of charging at least four – and up to 10 ...
The coalition Government will not proceed with the previous Government’s plans to regulate residential property managers, Housing Minister Chris Bishop says. “I have written to the Chairperson of the Social Services and Community Committee to inform him that the Government does not intend to support the Residential Property Managers Bill ...
The Government has announced an independent review into the disability support system funded by the Ministry of Disabled People – Whaikaha. Disability Issues Minister Louise Upston says the review will look at what can be done to strengthen the long-term sustainability of Disability Support Services to provide disabled people and ...
Justice Minister Paul Goldsmith has attended the Universal Periodic Review in Geneva and outlined the Government’s plan to restore law and order. “Speaking to the United Nations Human Rights Council provided us with an opportunity to present New Zealand’s human rights progress, priorities, and challenges, while responding to issues and ...
The Government and Rotorua Lakes Council are committed to working closely together to end the use of contracted emergency housing motels in Rotorua. Associate Minister of Housing (Social Housing) Tama Potaka says the Government remains committed to ending the long-term use of contracted emergency housing motels in Rotorua by the ...
Trade Minister Todd McClay heads overseas today for high-level trade talks in the Gulf region, and a key OECD meeting in Paris. Mr McClay will travel to Riyadh to meet with counterparts from Saudi Arabia and the Gulf Cooperation Council (GCC). “New Zealand’s goods and services exports to the Gulf region ...
Education Minister Erica Stanford has outlined six education priorities to deliver a world-leading education system that sets Kiwi kids up for future success. “I’m putting ambition, achievement and outcomes at the heart of our education system. I want every child to be inspired and engaged in their learning so they ...
RNZ News As Israel presses ahead with strikes in Rafah and seizing the Rafah crossing from Egypt, aid agencies are sounding the alarm of a “catastrophic humanitarian situation”. Rafah was “significant” because it was the only part in Gaza that had not been terribly damaged by the conflict, United Nations ...
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Responding to an Auditor-General's report slamming failures in the administration of the 2023 General Election, Taxpayers’ Union Policy and Public Affairs Manager, James Ross, said: ...
The Taxpayers’ Union says the Beehive need to lead by example, following reports of more than $50,000 spent upgrading video conferencing equipment and furniture in the Prime Minister’s office. Taxpayers’ Union Campaign Manager, Connor Molloy, ...
An objective list of the 50 most powerful people in New Zealand, as judged by the Spinoff Editorial Board. It’s power list season, baby, and we want in on the action. Sure, there’s the rich list and the powerful “c-suite” list and the young people with power (hmmm) but here, ...
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Source: The Conversation (Au and NZ) – By Alex Simpson, Senior Lecturer in Criminology, Macquarie University Netflix Baby Reindeer’s phenomenal success has much to do with its writer and lead, Richard Gadd, who plays Donny in a tender semi-autobiographical account of sexual abuse, harassment and stalking. Gadd’s story has ...
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Stewart Sowman-Lund looks at the growing concern around the world in this extract from The Bulletin. To receive The Bulletin in full each weekday, sign up here. What’s all this? When Covid-19 arrived on our shores in early 2020, some argued we were too slow, or crucially, ill-prepared for a pandemic. So ...
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The inquest into the death of Gore toddler Lachlan Jones has turned up a new witness who says he saw two teenagers and a small child in a high vis vest in the area where the boy’s body was found the day he died. Lachie’s body was discovered face up ...
Stories from the tenancy trenches, featuring spider infestations, cupboard rats and same-sex discrimination. Lucy’s brother was living in a damp 1930s building in Mt Eden where “he had to tie the cupboard doors closed so the rats didn’t get in”. Although he shared custody of his six-year-old son, his property ...
Simeon Brown, Chris Luxon, and Wayne Brown climbed into a hole and announced a plan to solve Auckland’s water woes. This is how it’ll work. New Zealand’s pipes are munted. They’re cracked and leaking, and struggling to handle all the extra poos excreted by our rising population. It’s a big, ...
I knew Taika Waititi quite well when he was a kid. His mother lived in a tall narrow house in Aro St, and my youngest sister had a similar house two doors along. They were both single mums, they each had a son aged seven. Taika and my nephew Stepan ...
Opinion: “As time passes, knowledge of the circumstances of the August 2016 outbreak will fade and its immediate impact will be lost.” This statement is from the 2017 report of the Official Inquiry into the Havelock North campylobacteriosis outbreak. The then National-led government established the inquiry after the outbreak left ...
Opinion: Nicholas Khoo looks at two key points in the high-stakes foreign policy pact debate – and asks if NZ can engage with as little drama as possible. The post Where to next for the Aukus ruckus? appeared first on Newsroom. ...
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Opinion: ‘Reference-class forecasting’ is at the heart of improving pricing a project and identifying the expected timeframe but it doesn’t appear to be in use here The post ‘Think fast and act slowly’ is failing big projects appeared first on Newsroom. ...
What do a sombrero in Argentina and cognitive driving tests have in common? Don’t worry, we’re not setting up a bad joke. Hinengaro Clinic dementia clinician Gregory Winkelman has the answer on today’s episode of The Detail. “We ask a patient’s spouse or son or daughter: If you went to ...
Wellington long jumper Phoebe Edwards is back and she’s having fun again. Until this year, Edwards, a top athlete in her teens, had never competed as a senior athlete in New Zealand. In March, the 26-year-old won a national long jump title in a lifetime best of 6.28m after ...
After replacing a fifth of their caucus in just four months, the Greens’ opportunity to reset, reshuffle and refocus on the Government is quickly slipping away The post Persistent Green Party scandals delay caucus reset appeared first on Newsroom. ...
ANALYSIS:By Olli Hellmann, University of Waikato When New Zealanders commemorate Anzac Day today on April 25, it’s not only to honour the soldiers who lost their lives in World War I and subsequent conflicts, but also to mark a defining event for national identity. The battle of Gallipoli against ...
By Robin Martin, RNZ News reporter A New Zealand local authority, Whanganui District Council, has passed a motion calling for an immediate ceasefire in Gaza, condemnation of all acts of violence and terror against civilians on both sides of the conflict and the immediate return of hostages. It comes as ...
Asia Pacific Report The Aotearoa chapter of the Women’s International league for Peace and Freedom (WILPF) has appealed to the New Zealand government to call out Israel over the “cruel and barbaric use of force” in Gaza and demand a permanent ceasefire. The league’s open letter was sent to Prime ...
Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra The Albanese government will invest $566 million over a decade on data, maps and other tools to promote exploration and development in Australia’s resources industry. The project will fund “the first comprehensive map of what’s ...
Asia Pacific Report Following an open letter by Auckland University academics speaking out in support of their students’ right to protest against the genocidal Israeli war on Gaza, a group of academics at Otago University have today also called on New Zealand academic institutions to “repair colonial violence” and end ...
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Comment: The weekly Monday post-Cabinet press conference is a useful forum for observing Christopher Luxon and how he is developing into the job of Prime Minister. He attempts to convey the impression of a man of action, speaking fast, delivering memorised National Party strategies in a connect-the-slogans kind of way, ...
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International audiences are starting to discover what New Zealand already knew about After the Party.When After the Party aired in New Zealand last year, the response was fast and furious. In his preview for Rec Room, Duncan Greive said it was a “gritty, wrenching and highly confronting” series. By ...
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With Shearer gone, who will be the contenders for the Mt Albert by-election early next year?
Will be good to see Little have a safe seat. Will he move to Auckland?
I’m interested in other people’s thoughts on the fair way to tax capital. Ianmac yesterday linked to The Opportunity Party’s release on their proposed capital tax (which doesn’t have much detail). On the assumption that it’s similar to the Comprehensive Capital Income Tax that Gareth Morgan has proposed before, I’d be worried about the following unintended consequences. http://www.top.org.nz/top1?utm_campaign=top1_members&utm_medium=email&utm_source=garethmorgan
1) Social effects on the housing asset rich/cash poor. Suggested mitigations are unconvincing to me. While this is likely to be the focus of most debate, right now I’m more interested in other aspects listed below.
2) May cause collapse of businesses that would otherwise survive, from the ongoing extra cashflow required to service the capital tax.
3) Discourages foreign investment. Why would any business want to set up where they start getting taxed long before they earn a penny of profit?
4) Favours low-capital businesses, and discourages businesses from investing more capital per worker. This is already a problem causing low productivity in New Zealand, do we want to make it worse?
5) Because land is such a high-capital item, it would push farmers towards a high-intensity high-input farming model. Which is a high-pollution low-resilience model, exactly the opposite of what we want.
6) No models to learn from elsewhere. Canada had some (at much lower rates), but those seem to have been abolished.
7) Encourages the use of debt to reduce the amount of liable capital for taxation.
Personally I favour a capital gains tax on all assets (including the family home, but with a rollover provision for family homes), payable whenever there’s any kind of change of ownership of the asset. There’s plenty of examples from other jurisdictions to learn from. It’s not much of a hassle to comply (I paid Capital Gains Tax on my primary home in the US), and while it’s slow to start collecting revenue eventually it reaches the point of fairly catching income from capital.
tops plan sounds complicated and unsalable , he’s already lost my interest, i was hoping for a simplification of the tax system ,
It also seems he’s not going to try to push UBI this cycle. Which is what I would have been really interested in.
“As for a Universal Basic Income he hinted at earlier in the day, Morgan said it wouldn’t be on the cards this time.
“[That would be in] phase two, if we’re still about,” he said.”
http://www.stuff.co.nz/national/87330737/gareth-morgans-divisive-policy-to-tackle-inequality
he just gave henry his pedigree in a mess of an interview , which was amusing but not helpful in selling his story.
Yes I’m keen for a UBI and then look at how to tax it as a secondary issue. So it seems crazy to me that UBI is not the main focus.
I think there needs to be a radical change to taxation to make sure that everyone has to pay their share. There are so many loop holes at present it makes it easy for those with more money and access to tax experts to avoid taxes. We need new ideas because the old ones only tax the middle and seem to avoid the super rich and global citizens.
We are having situations when banks are causing GFC being bailed out by tax payers and then being allowed to go on as usual and still make the rules on what’s fair to tax.
At the same time there seems to be a very punitive punishment approach to government taxation – at the end of the day it should be like a non profit co operative insurance scheme – you put money in – and then there is a basic level nobody is allowed to fall below (UBI) and then you need enough from everybody to make sure that the bills on health, education and so forth are met.
The whole premise of governments seem to be skewed with neoliberalism – that’s why we can afford Saudi sheep bribes for millions but put more and more hoops in for the most vulnerable to stop them getting a basic benefit. Wellington council can afford to pay Singapore airlines 8 million, Auckland wants to steal the harbour and put it into COO hands, but at the same time they are obsessed with cutting basic services like libraries, rubbish and keeping the berms mowed – because we can’t afford it.
Tax on the gain at sale, arbitrary taxes on capital can penalise many for holding over a long term gain with zero intent to gain from any sale or sell at all.
The funds exist from the sale and it clips the ticket as the punter has realised the profit. Effectively a transaction based tax, much easier to enforce as holdings can be hidden very easily.
Oz has had this type of CGT since the 80’s and you don’t see their right rushing to repeal it being a lot more mature in their economic management than ours.
“Tax on the gain at sale”
Some other jurisdictions have loopholes that allow avoiding capital gains taxes by such means as gifting assets to a trust, gifting assets to a charity and claiming a tax credit for the full value of the asset. Which is why I said “payable whenever there’s any kind of change of ownership”.
I like it – it only charges tax for assets that aren’t already generating sufficient taxable income to meet the threshold, so people are encouraged to use capital better. Assuming GST or income tax are reduced to offset it, most people, including most homeowners, would be better off in terms of disposable income.
Agreed, though some provision would have to be made for businesses which, though they would normally run profitably, happen to make a loss, whether through bad luck or poor management. The trouble is, many will find ways of taking advantage of such provision to avoid the tax.
” it only charges tax for assets that aren’t already generating sufficient taxable income to meet the threshold”
Do you really think it’s good to further reinforce the idea that the only value anything has is for the income that can be generated from it?
I’m also aware of several farms and small businesses where the owners are running them in a low key way just generating enough income to keep happy and not really trying to maximise returns. They’re also unusually good at looking after their staff and surroundings. Under a capital tax regime, they would become totally non-viable as is and would either need to close or start operating in a much more ruthless manner.
Do we really want to force that choice? Particularly if the alternative CGT achieves the same result in the end of getting the beneficiaries of asset price growth to share some of the gains with the society that makes those gains possible?
I’ve only read his policy document Andre so I don’t know the finer points but it looks like typical Morgan to me where he gets a bee in his bonnet and takes it too far.
With houses he appears to be targeting freehold owner-occupiers rather than investors/landlords or even those with a mortgage. His basic premise is that living in a freehold house is a form of income and should be taxed because the capital invested in the house would be taxed in any other investment scenario.
Now for those who have a mortgage it would be rather complicated to work out what their capital actually is before you could tax it. The property itself isn’t the capital, they’ve borrowed to buy it. Their capital would either be the equity or the deposit plus principal paid off. Working out the equity would be a nightmare with oodles of loopholes that investors would exploit to minimise their tax…. like they do already.
I can’t see it solving anything and it would make the system messier. A capital gains tax levied annually on investment properties is all that’s required IMO.
“A capital gains tax levied annually on investment properties is all that’s required IMO.”
A higher rates calculation on investment properties could be used to provide a social housing fund at local government level, and would be fairly easy to implement. If the owner is not occupying the property, the rates kick in at a different level. Rates are already taxing property owners, what this would do is increase that tax in recognition of the capital gains that landlords benefit from, that single home buyers and renters do not.
The reason I would exclude the owner occupied property is that investors are able to claim maintenance and other expenses (including interest paid) on their properties that owner occupiers must meet out of their income.
Rate are already a tax on property ownership.
Increased rates on investment properties recognise the anomaly above, and provide a social housing fund that increases locally as number of renters increase.
Have you considered that being able to claim expenses for tax purposes is the problem?
So?
If tenants had better security of tenancy, and a comprehensive method of ensuring that all maintenance needs are met in a timely manner – I’d consider agreeing with you. But the likelihood is that if maintenance and repairs were not able to be expensed then a large number of landlords (especially in this housing climate) would avoid paying out for as long as possible.
Not all homeowners are speculative purchasers.
My partner and I bought a home for reasons other than capital gain. Stability of housing for one ( had been moved on from rentals due to increased rents more than once).
But owning also provided the opportunity to do other things that are unable to be done in a lot of rented homes:
– Planting trees and gardens,
– Having several people staying with us over the years while they get on their feet,
– Looking after family pets for friends and family while they go away.
None of this would be possible in a rented home, unless we were very lucky to find a very relaxed and accommodating landlord.
Any more taxing on a household like ours (especially for capital gains that we have no practical or financial benefit from unless we sell and don’t require another home), and our precarious balance of finances would break.
I don’t think that would be an unusual scenario.
They’re called slumlords and they already exist and are in NZ.
And what if you had a state rental that was lifetime lease, allowed you to plant trees, gardens and do renovations as well as kept the place well maintained?
Again, all the problems that people have with rentals and the tax regime that allows a few to dodge paying tax is private ownership.
“And what if you had a state rental that was lifetime lease, allowed you to plant trees, gardens and do renovations as well as kept the place well maintained?
If that were possible Draco, I’d be living there.
But until we have a cross party consensus on the importance of affordable, healthy, secure housing, we will continue to have our communities broken up. For the moment, I – and many others do what we can with what we have.
It is possible if we all demand it.
But it will take a lot of work to bring it about.
I don’t think that’s necessary Molly. Simply assessing them for tax each year, and collecting it, would do the trick IMO.
As it stands investors are leveraging off their capital gains to borrow more money to buy more properties. If they had to pay tax on those gains they’d instead be borrowing a third of it to pay the tax. That would lower the demand for property and get the housing inflation down…. and boost the tax coffers.
Morgan’s scheme looks unworkable to me, can’t say I’m taken with the theory either but its the practice that looks unwinnable.
1. Seems reasonable to me.
2. Businesses are supposed to collapse if they can’t maintain themselves. That’s the whole point of capitalism. It’s not up to the rest of us to keep them going.
3. Foreign investment needs to be banned as it’s detrimental to society.
4. No it doesn’t. If anything, it encourages high capital investment as the high investment is more likely to return greater amounts. It’s our low wages that are encouraging low capital investment now.
5. We already have that happening now. The solution is proper regulation.
6. So we should never try new ideas?
7. I’m pretty sure that Morgan has an answer to that as well.
I think that Morgan’s CCT is a much better idea. Done well it would make it impossible to be asset rich, cash poor which would be good for the economy and our society.
Yeah, there are. One of those lessons is that a standard CGT doesn’t really work.
To be honest Draco, I was expecting you to advocate getting rid of private ownership completely and then the question becomes moot. 🙂
“One of those lessons is that a standard CGT doesn’t really work.”
What do you mean by works? No, a CGT on it’s own doesn’t prevent bubbles. All I really see it doing is helping make sure the owners of capital eventually contribute something towards the society that helps those assets increase in value. Collecting it at time of sale (when the sellers have the cash in hand) doesn’t feel punitive in the way the proposed CCT (or the existing FIF tax) does feel punitive by demanding the payment whether or not you’ve got the cashflow to support it. ( I realise you would be all for setting up systems that made asset-holders feel punished regularly, but trust me very few people agree with you on that).
“So we should never try new ideas?”. When we try to reinvent a wheel, it seems we regularly come unstuck with all kinds of unintended consequences. If there’s models from elsewhere we can learn from, why not copy the best aspects?
Doesn’t prevent bubbles and doesn’t prevent the rich from avoiding their obligations.
Do they truly increase in value?
That’s part and parcel of our chosen market system. If you don’t have the cash then you just don’t have the item.
Completely wrong. I want to make it so that people can’t afford to have can’t assets in the first place.
I’d say that Morgan’s CCT is based upon the old CGT. What you’re saying is that we shouldn’t try this small change because it hasn’t been done before. Under such stupidity the wheel would never have been invented.
“I’d say that Morgan’s CCT is based upon the old CGT. What you’re saying is that we shouldn’t try this small change because it hasn’t been done before. Under such stupidity the wheel would never have been invented.”
Morgan’s CCT is very close to the Foreign Investment Fund tax introduced by Cullen, as far as I can tell. I pay it every year, and it’s a real pain and I certainly wouldn’t make any new investment into anything covered by it.
I’ve also paid Capital Gains taxes in the US (and will again in the future unless Trump manages to do away with them). It’s only a minor hassle, and doesn’t feel unfairly punitive the way the FIF tax does. Potential liability for CG taxes certainly wouldn’t stop me investing in something.
“Fake news” is a specific subset of the attempted deceptions around us all the time, but the pushers and beneficiaries of fake news are trying make the idea of fake news meaningless by calling everything fake news.
http://www.slate.com/articles/technology/technology/2016/12/stop_calling_everything_fake_news.html
It all just reinforces the importance of fact-checking, researching the credibility of the source, keeping the bullshit detector on high alert at all times, looking at everything with a cynical view that some agenda is being pushed.
sometimes I wish the news was fake
“On Twitter, some were quick to suggest the President Elect followed in the company of Hitler, Stalin and Putin who had also received the iconic title.
… The magazine’s annual award names the person who has had the “greatest influence, for better or worse, on the events of the year”.
German Chancellor Angela Merkel, The Ebola Fighters, The Pope, President Obama, Mark Zuckerberg, Former President George W Bush, and Julian Assange have also won the title before.”
http://www.nzherald.co.nz/world/news/article.cfm?c_id=2&objectid=11762705
funny one that ‘TIME Person of the year’.
“On Twitter, some were quick to suggest the President Elect followed in the company of Hitler, Stalin, George W. Bush, Putin, and Obama who had also received the iconic title.”
—There you go, Marty, I’ve fixed up that first sentence to remove the reflexive self-censorship and dishonesty.
http://www.curmudgeon-alley.com/wp-content/uploads/2014/05/ywc-logo-design.png
Just quoted not dishonest thanks
So if its a “quote” its not dishonest. That sums up how the media deliberatly lies and misleads. Its bullshit.
Nice, still being classy too…
You quoted it without mentioning your reservations about its extreme bias. That’s tantamount to endorsing its propaganda.
Says you. Hint – don’t tell me what I think – your brain or thoughts aren’t big enough.
So why did you quote it without mentioning its crude political bias?
thank god you were there to save us, morrissey /sarc
Always happy to help, McFlock. (No sarcasm.)
and one day you might provide that help.
One day.
I thought people could work it all out themselces. Pity you let the side down.
A near perfect summation – from an Australian, in a British newspaper – of John Key and John Key’s New Zealand.
“…Key was like a Tony Blair of the South Seas: a certain level of personal charisma and a socially inclusive façade allowed both Key and Blair to sell the nasty side of neoliberalism…”
https://www.theguardian.com/commentisfree/2016/dec/07/john-key-was-known-as-the-smiling-assassin-and-people-still-liked-him?CMP=share_btn_fb
You’d never get NZ political journalists with insight like this. As their reactions of shock indicate, most of them were firmly besotted by John Key’s cham right to the moment he basically told them to all fuck off.
Spot on Sanctuary!
So what was the nasty side of neo-liberalism he was selling?
High growth rate (3.4%)
Low unemployment (less than 5%)
Budget surpluses
NZers returning home
Infrastructure spending
Majority of NZers saying the country is going in right direction
So long as the Left are obsessed by the term “neo-liberalism,” they will loose. It shows a disconnect with the mood of the public.
If you want to win focus on the pragmatic, the things that actually influence voters, not ideological labels.
Have you ever been for a drive through our less affluent suburbs?
You would expect more informed comment from someone who sat on the government benches.
Would you? Nah droppings are always droppings.
You really do talk tosh. You need to pay a lot more attention to world events Wayne.
The supporters of the neoliberal establishment have been in trouble all this year.
Heard of Brexit?
Heard of Trump?
Heard of the Italian referendum?
It is clearly the supporters of the neo-liberal establishment who have been shown in 2016 to have a disconnect with the mood of the public.
Here is some reading for you…on the assumption you are actually uninformed as opposed to willfully spinning on behalf of your masters.
https://www.opendemocracy.net/alfredo-saad-filho/end-of-road-global-crisis-and-disintegration-of-neoliberalism
https://www.theguardian.com/commentisfree/2016/nov/17/american-neoliberalism-cornel-west-2016-election
https://www.theguardian.com/business/2016/nov/15/trumpism-solution-crisis-neoliberalism-robert-skidelsky
https://boingboing.net/2016/12/06/italys-referendum-a-vote-ag.html
https://www.theguardian.com/commentisfree/2016/oct/10/end-of-neoliberalism-left-theresa-may-migrants-labour
https://www.opendemocracy.net/john-boland/trumping-brexit-growing-failure-of-neoliberal-consensus
Did you read the piece that Sanctuary linked? It not only critiques John Key’s leadership, it also briefly explores the prevailing narrative that fed his popularity, …they kept voting Key in because they believed in the equation that “good with money” equals “morally upstanding” and further suggested that the left will only gain traction when they are able to successfully counter this idea. According to the author, …this money story not only has currency, it is the currency of the reigning monetarist fiscal discourse.
One alternative story is to return “the broader public good’ to the position that “the monetarist fiscal discourse” now occupies. Your list suggests that the public good is being served within the current framework, but that is only true if you draw the line firmly behind the heels of the comfortable middle class, and accept that hardship and insecurity for those outside of the fold is “worth it.” And since you tend to dismiss those who privilege the public good as “hard left” you can hardly complain if they dismiss your lot as “neoliberal.”
Of course we are turning a blind eye to the fake students, earthquakes and other scams that are making the governments figures look better…
So what was the nasty side of neo-liberalism he was selling?
High growth rate (3.4%) – due to earthquakes, record immigration, badly designed student visa programme and the problem invisible to National Party members of inflated housing costs and the overseas investments that it attracts.
Low unemployment (less than 5%) – In other words, if you don’t get the numbers then change the system so you don’t count.
Budget surpluses – Tom Waits… along with the rest of us
NZers returning home – To do with the fact that the global economy is failing perhaps, or maybe they are returning home on student visas.
Infrastructure spending – Is it effective infrastructure spending, or appropriate? Doesn’t seem to be the case.
Majority of NZers saying the country is going in right direction
I don’t understand how often this is used as justification. If, as a teenager I hid the underage drinking and jumping out the window from my parents, and then listened to them praise me, then I wouldn’t use that as approval of my behaviour – just blissful ignorance.
The lack of transparency and information sharing (not withstanding Dirty Politics and journalist shaming) by this government has resulted in the same.
Nothing to be proud of, and definitely not something to to try pass off as informed support.
The nasty side of neo-liberalism is apparent to all who value humans over economic growth, and community and environment over short-term profit and long-term consequences.
Look again Wayne.
The real story can no longer be swept under the carpet
http://www.noted.co.nz/currently/social-issues/a-year-of-living-shamefully-new-zealands-dirty-secrets/#
Growth driven by excessive immigration, housing price rises, and earthquakes. The real measure, per capita, is negative.
Unemployment is only low, because National counts one hour a week as employment.
Budget fudges. With current account and social deficits increased to cover it.
Infrastructure spending. I wish. Roads of significance to the trucking industry is similar to spending on buggy whip factories.
“Country going in right direction”. I have to congratulate National on the effectiveness of their propaganda. Even the Neo-liberal cheer leaders in treasury think National is heading for disaster.
Lastly. Key has headed for the lifeboats before the ship sinks.
Good work The Green Party – potential candidates stepping forward early – this is good – get them sorted and then onward to victory!!!
Matt would be a good candidate I think
http://www.stuff.co.nz/national/politics/87298578/nelson-city-councillor-matt-lawrey-seeks-green-party-candidacy
Where are the Headlines? Surely there should be ones like:
National Party Leadership Battle splits Caucus!
Angry MPs Dispute Leadership Plans.
Leadership Battles Rips Caucus Apart.
Will be Years Before National Party Revives Credibility After Bitter Infighting.
Probably because its going to be over rather quickly, which is smart thinking on Nationals part. How can you really have those type of headlines when the result is going to be known on Monday/
Sure the ructions after will prove to be more then interesting but theres simply not enough time for those type of headlines to be used.
Love Granny propaganda (sarc) – even when the Leader resigned it’s all good press for Natz candidates. Not a peep about Collins and all her transgressions and Double dipper English!!
“Bennett said her relationship with English was “fantastic” and described him as “awe-inspiring”. The two work together on finance and social housing, and they are part of the top tier of ministers, called the “Kitchen Cabinet”. But English has also worked closely with Bridges on Auckland’s transport problems.
In a sign of a potentially tense contest, Bridges said he would make a better deputy than Bennett because he marked a complete generational change. Bridges came into Parliament three years later than Bennett, in 2008.”
In spite of this they still have to run spiteful anti Labour articles such as Claire Trevett’s
“100 not out: Labour party battles for its political future”
It starts on Monday.
fence
post
Yes true, I’m assuming it will be sorted by Monday, like its a fait accompli kind of thing especially since the next budget surplus is supposed to be a whopper
It might not of course, however if I was a betting man I’d bet it’ll be over on Monday…the puckish side of me would like to see it continue on for a while though 🙂
Bill at the helm of a leaking, bloated tanker heading for the reefs. His crew! Oh dear! And First Mate! A cargo of rancid fat and snake oil. Oh dear, oh dear!
Fortunately (unfortunately) there’s just enough momentum for the good ship National to make it to the port of the 2017 election win, thanks to a budget surplus and the assistance of the tugboat of NZFirst and the tugboat of another bye-election Labour can’t afford
After that there may be some slight cause for concern 🙂
It’s as though the All Blacks were facing their most critical test match and were reliant on their one star player upon whom success depended, let’s call him, “John Richie”, when an hour before kick off, John declares that he is not going to play, he’s talking his ball and going home, because his girlfriend want to spend quality time with him.
The crowd goes wild.
Yeah imagine what would happen to the All Blacks if Richie, Dan, Kevin, Tony, Ma’a and Conrad left all at the same time taking over 700 caps and all that experience with them 🙂
what you are eluding to might be true , if it wasn’t for the fact that the rugby equivalents of parmjeet ,misa fia and tobbacy todd wouldn’t make the taumarunui eels team let alone the the all blacks up incomers
They’d lose to Ireland?
Well I was linking the tier 1 test record to a record fourth term for National but please tell me you aren’t suggesting Labour is like the Irish rugby team
Well, the Irish team currently has a 50% win record against the All Blacks in its past two encounters (aren’t stats wonderful- a bit like Treasury and Budget figures).
The Irish team has charm, wit and size.
It embraces the whole of Irish society, north and south, inclusively.
Like the Left in general the Irish have got the best songs.
And lastly, they especially despise the English!
So, Puckish Rogue, in the best sense of fun, some great parallels between the NZ Labour Party and the Irish Rugby team of very recent history! 😉
Disclaimer: though my moniker is Mac1 there is no blarney or bias in this summation, at all at all at all.
No need for headlines, 2 days of discussions and it’s sorted, lessons to be learnt by other parties maybe?
http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11763085
Who knew that motels were going to be a fundamental part of the “wrap around” service that the Ministry of Social Development were going to provide?
Used to house (and indebt) our ever increasing homeless, they are also a depository for our vulnerable children. ( Unless there is a free gang associate house available that is).
I was speaking to a CYFS worker just yesterday, and those in her office are spending much of their time coming up to the holidays looking for motels to place children. When I asked who was there to provide caregiving, she shrugged her shoulders and said “Who?”.
Molly it’s all about physical assets, such as motels and the buying and selling of them. The actual social part of it, does not appear in the neoliberal manuals so just sort of falls off the radar. People are not considered assets under neoliberalism they are just vehicles of loss .
Similar to the conference centres (to create jobs but the job bit is the fudge, in fact rather than create jobs for locals you just import workers in because they are cheaper, then you have a housing crisis to solve to house all the new people etc), the homeless crisis, (rezone land and then let the market do ‘it’s thing’, the immediate housing is irrelevant), etc etc.
Would agree with you there, saveNZ.
How and why to turn a turtle on its back,
https://thestandard.org.nz/the-standard-is-offering-to-the-national-party-leadership-contenders-guest-post-slots/#comment-1271775
Did anyone else see the awful add in the herald yesterday.
The solid energy add, Mansplaining at it’s worse. So condescending it was sickening.
For a so called open letter – noticed no signature. How cowardly can you get.
Funny anyone with half a brain realised it was out and out propaganda. Well I suppose solid energy will do anything for their political masters.
This government is such a bunch of wankers, hiding behind a so call private company to lie and spin to New Zealand public.
New low.
And published in the Herald where Westcoasters are sure to read it. Ha 🙁
More grievous ignorance of sports history in the media.
Morning Report, RNZ National, Thursday 8 December 2016, 8:25 a.m.
This morning featured a report from Indira Stewart of the Pacific Radio Network, stating that Joseph Parker and David Tua are the “only two New Zealanders to have ever fought for the World Heavyweight title.”
That is nonsense, of course. On Thursday 26 July 1928 Gisborne’s own Tom Heeney fought Gene Tunney for the title at Yankee Stadium. The fight was stopped in the 11th round.
Neither Susie Ferguson nor Guyon Espiner seemed to notice, and simply carried on with the next item.
For those who, unlike Indira Stewart, care to know something about boxing history, here’s a tape of the fight…
Also https://en.wikipedia.org/wiki/Bob_Fitzsimmons
We can sort of claim him 🙂
Thanks Puckish Rogue. What an inattentive fool I am! In my haste to excoriate RNZ National, I merely show up myself.
Assuming you don’t have access to the same resources RNZ have its an easy error to make, unless you come from Timaru of course in which case there’s no excuse 🙂
Fitzsimmons having a fight reffed b ywyatt earp,and the famed fight on the sandbar in the rio grande organized by judge roy bean.
https://en.wikipedia.org/wiki/Fitzsimmons-Maher_Prizefight#/media/File:BeanSign_small.JPG
Well that wins the internet for coolest thing I’ve read all year 🙂
I also think jimmy Peau thought for some non descript world title in Queensland a few years back
Yes I remember something along those lines. Whatever happened to Jimmy Peau?
I don’t know anything about him lately but 5 years ago he was pretty down on his luck
http://www.stuff.co.nz/sport/other-sports/3481691/Thunder-Jimmy-Peau-on-the-canvas
Theres this from 2014:
http://www.stuff.co.nz/national/crime/10524793/Jailbird-Peau-likely-to-be-deported-Down-Under
Thanks for that Alwyn.
MEET THE CANDIDATES
No. 3: Judith “Crusher” Collins
Possibly the nastiest and most immature political candidate in New Zealand’s history—though not the stupidest.
http://www.stuff.co.nz/national/politics/87288904/nicky-hager-takes-on-aspirant-pm-judith-collins
“She has the integrity.”—Don Brash.
Ok then we’ll just turn a blind eye to the frauds then because somebody is making a short term buck and it will expose the governments underfunding of education, so they are doing nothing and leaving the short term housing issues and longer term problem of all our fraudster residents to another government … from Granny
“Yet it seems no one can really tackle the student visa rort because we now depend on it.
The country makes $4.28 billion a year from international students, our fourth biggest industry behind dairy, tourism and meat. Put aside legitimate questions over how much of that money stays in New Zealand and circulates in the wider economy, as opposed to the immigrants themselves. If we turned off the tap tomorrow – the Government’s nightmare scenario after the sudden collapse of the Chinese market in 2003 – many office buildings would be half empty and central Queen St would become a ghost town. Even reputable education providers would go broke and most polytechnics and universities could not make ends meet with domestic students alone. Economic activity would also take a hit, as international students are doing the difficult, low-paid jobs that most New Zealanders avoid – at least until the students get their residence visa.
In short, fundamental changes are unlikely to come from the top because too many powerful interests are benefiting from the current system, despite its obvious flaws. The only hope is for more honest people within the student visa scam to stand up and be counted.”
If we turned off the tap tomorrow … many office buildings would be half empty and central Queen St would become a ghost town. Even reputable education providers would go broke and most polytechnics and universities could not make ends meet with domestic students alone.
Gosh, that would be a disaster! Good job there’s no proposal on the table to ban international education outright then, eh? Cleaning up the industry would make it worth less, but would still leave universities, polytechs and schools teaching a lot of international students.
The actual reason the government won’t do anything about the scam is in this bit:
…international students are doing the difficult, low-paid jobs that most New Zealanders avoid – at least until the students get their residence visa.
That is, the success of this scam to bypass our immigration standards and ensure a supply of cheap, easily-exploited labour for National’s constituents, with downstream effects on local pay and conditions, is the government’s main reason for not cleaning up the international education “industry.”
“many office buildings would be half empty and central Queen St would become a ghost town.”
What happened to the cherished Number 8 approach to solving problems with innovation? Empty office buildings in Queen Street + homeless in Auckland should = conversion to family apartments and a community revitalisation of Auckland central.
As for the other, fund education to sustainable levels.
Couldn’t all the empty buildings be given to solve the housing crisis????
All solved. move on.
Gareth Morgan tells Paul Henry the truth.
And Paul Henry hates being shown up for being the selfish git he is.
Morgan to Henry…
“You’re telling me that you don’t give a toss about New Zealand being fair. ‘Pull up the ladder, Jack, and the rest of you can get stuffed’. What sort of New Zealand values do you have, man?”
“You’re just a tax loophole cowboy, that’s all you are,”
“I’m about making New Zealand fair. You’re self-centred and you don’t give a toss about being fair in New Zealand.”
“Don’t tell an economist what a reverse mortgage is mate.”
“In media soundbytes are important, that’s why your sort of media is dying mate.”
And Henry’s retort, with his expensive house, European car and entitled lifestyle threatened.
Morgan is a communist.
Watch it. It’s great to see the tosser Henry being dealt to.
http://www.newshub.co.nz/politics/tax-policy-bust-up-gareth-morgan-trades-insults-with-paul-henry-2016120808
Morgan needs to become less defensive when he’s discussing his party’s policies.
I certainly support his Comprehensive Capital Tax. If you have an asset that returns some benefit then it should be taxed at the commensurate income of that benefit.
I agree Morgan did not help his case, loosing his cool, playing the man not the ball, never a good look unless your of a Paul persuasion and just want to see Henery abused
zzzzzzzzzzzzz
I do not totally agree with Morgan, but at least he has us discussing these things, and his heart is in the right place.
I don’t see what a CCT can do, that conventional inheritance, income and CGT combined, along with getting rid of private trusts immunity from claims, cannot.
Only someone as truely ignorant as Henry, can have such confidence.
I don’t blame Morgan for getting annoyed with the bumptious twit.
1. Gets rid of land banking. The land will have to produce an income year to year else it’s just going to cost too much. A CGT may get the tax once the land is sold but it doesn’t prevent it.
2. Encourages people living in large, expensive houses to shift into smaller houses with smaller land thus freeing up more land for housing thus encouraging density increases.
Neither do I but he shouldn’t have shown it. His sitting back, hands tightly crossed before him shows that he’s on the defensive and is exactly the reaction that Henry was going for.
He needs to be able to sit there, calm, arms open, answer the questions and, yes, call Henry a bumbling, selfish idiot.
3. It could allow marginal land to remain as wilderness.
It does sow why trying to debate with the “Haves” is so difficult. Why would a “Have” like Henry be in the least concerned about the “Havenots”?
If he can’t handle Henry how is going to handle the rest of the pressure that’ll come, its all well and good to say what you think should happen and get nice media fluff pieces but hes thrown his hat in the ring and now what he says is going to be picked over with a fine tooth comb and he’d better be ready with some answers
Morgan wants retired people to get a reverse mortgage on their house so they can pay property taxes, he a communist arsehole.
No he doesn’t. and he’s most definitely not a communist. He’s very much a capitalist – he’s just one that sees many of the limitations that the way capitalism operates and how it doesn’t pay it’s full costs and puts those costs on the poor instead.
I’d have thought he wouldn’t have been stupid enough to include the family home in this, I can’t imagine any political party thinking that’s an idea the voters will go for, not even the Greens
Yes I’ve seen first hand how paranoid and touchy the entitled property class is about their inflating asset values.
They expect to sit on their million dollar+ houses and bank capital gains of 80K per year for ever. If anyone suggests this model is neither sustainable nor fair then they are shouted out of the room.
This unreasonable, greedy behaiour is sowing the seds of class war. I suppose this is the ugly side of Pakeha culture. They stole Aotearoa in the first place and now (like some kind of landed gentry), they expect the serfs to slave away paying high levels of tax and rent. Wealthy boomers have come to expect a well paid retirement with no means testing or CGT.
What a pack of spoiled brats
Well the average house price is $600 000.00 but please go ahead and suggest to the voters that taxing the family home, the house the retired have worked for entire lives to own (while paying taxes) is a really good idea
http://www.radionz.co.nz/news/national/309978/average-nz-house-price-tops-$600k
Why should some people (who have also worked their whole lives) have to keep paying high rents for ever, while others who managed to climb into property ownership get free accommodation and tax breaks and full super without any form of means test?
Not sustainable, not fair, and kinda gross in the middle of a housing crisis
I actually support means testing by the way but the family needs to be exempt
Why not except a family home up to a certain value.
Exempting the family home is a loophole the wealthy will drive a bus through.
+100
what about Maori land Ropata… how many Maori (or Pakeha for that matter) have the income to pay yearly taxes on their capital?
All that will happen is what is already happening, Kiwis can’t afford to live in their own country with all the taxes and the low wages and foreigners will buy us up cheap.
That’s where Morgan’s ideas falls down.
I’m more into the Sanders and Corbyn approaches on Robin hood taxes on banks and transaction style taxes.
Don’t expect an answer, ropata jumped in with the chance to score a “hit” on a rightie and didn’t think through his reasoning
I am not a policy analyst nor am I a spokesperson for Morgans TOP vehicle. I just think he talks a lot of sense and in principle I agree with his fair minded ideas.
Morgan’s tax is aimed at the top few% of wealthy property holders who are banking tax free capital gains. He reckons his LVT will be either neutral or advantageous for most people because he will also drop income taxes.
Anyway I think this party is just a way for him to get the ideas of his Foundation into mainstream media. In the current volatile economic climate his is a vital counter narrative to the standard capitalist dogma we swim in.
Remember this is in the context of an unprecedented housing crisis, Morgan’s ideas are not cooked up in a vacuum.
I understand this is heresy against the national NZ religion of a quarter acre pavlova paradise.
Gareth Morgan has my full support for sticking it to that twit Henry. Watching that video clip made my day. I thought Morgan eviscerated the prick.
I think he got frustrated that Henry kept coming up with stupid examples, but there was no need for Morgan to stoop to Henry’s level of childish insults.
Henry is very gifted at twisting things according to his warped view of the world and dominated the interview in a very rude and hostile manner. For some reason he was much nicer to Ann Pettifor and allowed her a lot of time to express her position.
http://www.debtonation.org/2016/10/ann-pettifor-in-new-zealand-on-the-financialised-economy/
promising signs from gareth, perhaps he can come up with a public broadcasting policy as no one else seems to to sort that issue out.
Wow! a strange thing happened, somehow, somewhere, someone came to the conclusion that for true comparison of two different systems, they need to be measured with the same criteria.
But our favorite hologram disagrees, seems if there’s money involved, and a contract to enforce well…………. it’s just a bit confusing for the average Joe/Jane and at that point we should bow out and leave it to him and the other “experts”.
http://www.radionz.co.nz/news/national/319865/charter-school-ncea-reporting-to-be-brought-into-line
I was going to put up a link to the interview on Natard this morning with Paula Bennett and how she will make a truly awesome Dep Leader of the Natzional Party but the website appears to be having access problems….but never mind, I’ll do a Morrissey and give y’all a transcript.
Ms. Bennett….what qualities do you believe you have for the Deputy Leaders role?
hahahahahahahahahahahah….pause for gurgling breathhahahahahahahahahahah
gigglegigglegigglegigglegigglegigglegiggle
and so on, ad nauseum.
Here….http://www.radionz.co.nz/national/programmes/morningreport/audio/201826881/bennett-or-bridges-for-national's-new-deputy
This is a fascinating article about how a gunman attacked a pizza parlour in Washington after conspiracy theorists claimed Hilary Clinton was running a child sex operation out of it. It argues that mis-information is being used as a political tool.
https://theintercept.com/2016/12/06/disinformation-not-fake-news-got-trump-elected/
InfoWars video in 5… 4… 3….
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No country with a McDonald’s can remain a democracy
George Monbiot
Since the 1980s we’ve let the corporations rule and it’s become obvious that it’s detrimental to us as a community.
So true, the NZ government was seduced and subverted in 1984 and now it’s become a schizoid institution that purports to represent the people of New Zealand, but is instead complicit in their exploitation.
It’s not exactly secret, all this has been well documented (see cafca.org.nz), but since it has been a slow and ongoing process the sale of NZ piece by piece to foreign interests doesn’t make the news cycle.
Just read the whole thing — how depressing. Maybe democracy was just a temporary aberration and the natural state of the human race is feudalism and internecine tribal conflict.
When the USA was founded corporations were deliberately outlawed because the founders had seen what they did to Europe. Sadly that didn’t last long
Democracy does seem to be more of an aberration with dictatorships and oligarchies ruling most of the time. Of course, the oligarchies and dictatorships always collapse due to the hubris and greed of the rich. And when they do we go back to being a democracy which then builds up society which the rich then take over and destroy.
It seems to be an iterative process as we learn more our democracy gets better but, unfortunately, we haven’t learned to prevent people from getting rich yet.
“Representative Democracy” was bound to fail.
Putting that degree of power in the hands of a few people, is always going to be subverted.
Democracy, however!
Finally Assange is permitted to answer the slander against him on record.
It has taken six years for this to occur. An outrageous abuse of legal power and process!
https://justice4assange.com/IMG/html/assange-statement-2016.html
Thanks for that, xanthe. Don’t expect anything on this to appear on our television news this evening. (Time constraints due to extended banter between the autocue readers and the sports guy and the weather guy.)
Thanks xanthe. Pretty awful in this day and age. What next?
Some conservative Kiwis are very unhappy that the ugly side of their country’s Pacific history is being exposed: http://readingthemaps.blogspot.co.nz/2016/12/counting-victims.html
+1 fascinating and tragic tale. Absolutely should not be covered up. Love your work RTM and it deserves to be published widely.
What does brought in to line mean?
Are the Charter schools just lying about there pass rates?
Charter school pass rates plummet when brought in line with state schools
http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11762756
“Brought into line” means there’s been a corrupt system working and now it’s been outed.
Hekia Pariah and the Epsom Idiot have been spinning crap about it today to try to make people with ordinary intelligence believe it is something it wasn’t. I didn’t need to go to a charter school to recognise bullshit when I see it.
A leaked memo from the Beehive 😉
Ok so Little was safe until the next election because, lets all be honest now, Little was going to lose to Key but that was keeping him safe because anyone else would have to lost to Key as well
Now Keys gone and English is in charge, English who has lost before, English who isn’t exactly Mr Charisma, English who is beatable…Little might win and that’ll mean six years and then National will be back in so that’s a long time to wait if you’re an MP
But Little hasn’t improved Labours numbers, in fact it’d be fair to say Labours numbers, being positive, stagnating and if National don’t drop below 40% and NZFirst stay above 10% then that’s another term for National
So in light of the new developments is there someone in Labour that will answer the call to arms?
On a completely unrelated matter, what are the chances Robertson is going to be firing up the ol’ BBQ over Summer? 🙂
That’s not what Key himself thought. He said said he didn’t like losing which is why he jumped ship.
Key is a coward and I believe he will be remembered for that.
If there’s one thing to be learned from the Trump, Key, Cameron phenomena it is that policy is totally irrelevant and in fact it switches people off. What people vote for is a smiley wavey confident snake oil sales person. Even Obama and Trudeau benefited from this mindless herd behaviour. (Scott Adams made some excellent observations of Trump’s persuasion techniques and NLP type shit)
Maybe Labour needs to put up All Blacks and TV personalities instead of serious candidates.
I kind of agree with this but you’d be hard pressed to find a Labour supporting All Black although Chris Laidlaw is probably still hanging around if you want to use him
Labour is appearing more solid by the day, all the dead wood is being pruned game on pucky , the planet key lotus eaters will awake from their stupor in time for the right man to be the next PM.
i think they are addicted to the property price inflation koolaid and will keep drinking it until NZ sinks into the sea. or some other unthinkable disaster happens like “interest rates”
Robertson has been sorting out things in the background and doesn’t have to
CV will be delighted to learn Trump’s rumored pick for FDA director reckons big pharma should release new drugs, whether they work or not.
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O’Neill also could push the agency in new directions. In a 2014 speech, he said he supported reforming FDA approval rules so that drugs could hit the market after they’ve been proven safe, but without any proof that they worked, something he called “progressive approval.”
“We should reform FDA so there is approving drugs after their sponsors have demonstrated safety — and let people start using them, at their own risk, but not much risk of safety,” O’Neill said in a speech at an August 2014 conference called Rejuvenation Biotechnology. “Let’s prove efficacy after they’ve been legalized.”
http://www.bloomberg.com/politics/articles/2016-12-07/trump-team-is-said-to-consider-thiel-associate-o-neill-for-fda
Who are you going to drool over now till the next election Puckerman? now that your beloved idol has spit the dummy.
I’m more curious whose leg the Hosk is going to hump now. It just won’t be the same if it’s English’s leg he latches onto.
@ Andre brilliant + 100
Hosking’s done his “Best PM Ever” shit now he’s checking out the Blinglish (invented word) ‘rectalia’. He’s a bit shameless with his rat-up-drainpipe styles is Hosk’.
FFS…….dork Max Snr. Couldn’t resist could he? http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11763286
I don’t mean the ‘doing’…….the “lonely backbencher” line weren’t half bad akshully (well done CT!)…….no, it’s more the studied ‘telling’.
No class. Aux Old Money must be immensely glad about The Leaving.