The Government says it won't make the same mistakes as the last if hit with an event similar to the Covid-19 pandemic. 

A Treasury report has calculated the total cost of the pandemic at $66 billion. 

It puts New Zealand among the highest spenders as a proportion of GDP on the Covid response in advanced economies.

Finance Minister Nicola Willis told Ryan Bridge nearly half of the spending was on unnecessary initiatives. 

She says it didn't make a difference to the economy, and racked up huge amounts of debt.  

LISTEN ABOVE

The Government says it won't make the same mistakes as the last if hit with an event similar to the Covid-19 pandemic.&nbsp;
A Treasury report has calculated the total cost of the pandemic at $66 billion.&nbsp;
It puts New Zealand among the highest spenders as a proportion of GDP on the Covid response in advanced economies.
Finance Minister Nicola Willis told Ryan Bridge nearly half of the spending was on unnecessary initiatives.&nbsp;
She says it didn't make a difference to the economy, and racked up huge amounts of debt. &nbsp;
LISTEN ABOVE

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

Early Edition with Ryan Bridge

Nicola Willis: Finance Minister on treasury report calculating the total cost of the pandemic at $66 billion

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/e49e01b6-b2af-458e-b72e-b332012a519f/transcript

There's a view changes to the fast-track system shouldn't be made carelessly.  

The amendments to the system working their way through Parliament will mean councils can claw back greater costs from developers.  

Independent urban planner and strategic development expert Bruce Weir says there probably is some room for developers to pay more.  

But he told Ryan Bridge the Government shouldn't be rash with changes.  

Weir says we don't want to put developers off as it can actually be quite difficult to get projects through.  

LISTEN ABOVE  

There's a view changes to the fast-track system shouldn't be made carelessly. &nbsp;
The amendments to the system working their way through Parliament will mean councils can claw back greater costs from developers. &nbsp;
Independent urban planner and strategic development expert Bruce Weir says there probably is some room for developers to pay more. &nbsp;
But he told Ryan Bridge the Government shouldn't be rash with changes. &nbsp;
Weir says we don't want to put developers off as it can actually be quite difficult to get projects through. &nbsp;
LISTEN ABOVE &nbsp;

Bruce Weir: Independent urban planner and strategic development expert on the amendments to the fast-track system

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/ae9e4023-5c6d-41e5-9d55-b4c6017d4b93/transcript

It's being suggested New Zealand is still suffering from a minimum wage freeze 30 years ago, and ACT's pledge would do long term damage.  

The party wants to set up a training wage for under-20s in their first year, allowing them only 60% of the minimum wage – that's $14.37 an hour. 

ACT also wants to freeze the minimum wage for three years. 

E tū National Secretary Rachel Mackintosh told Ryan Bridge the wage is already well below what people need to survive on. 

She says the policy sends a message that some New Zealanders aren't worthy of earning enough to live. 

LISTEN ABOVE  

It's being suggested New Zealand is still suffering from a minimum wage freeze 30 years ago, and ACT's pledge would do long term damage. &nbsp;
The party wants to set up a training wage for under-20s in their first year, allowing them only 60% of the minimum wage – that's $14.37 an hour.&nbsp;
ACT also wants to freeze the minimum wage for three years.&nbsp;
E tū&nbsp;National Secretary Rachel Mackintosh told Ryan Bridge the wage is already well below what people need to survive on.&nbsp;
She says the policy sends a message that some New Zealanders aren't worthy of earning enough to live.&nbsp;
LISTEN ABOVE &nbsp;

Rachel Mackintosh: E tū National Secretary on ACT's plan to freeze minimum wage, lower youth training rate

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/d7777c5a-1874-4a63-a927-b4c60178c2bf/transcript

Tax cuts are back on the campaign agenda.  

Nicola Willis dropped a wee hint to the BusinessNZ election conference yesterday. 

Bracket creep is hurting workers – as wages increase and you creep into a higher tax bracket, you pay more marginal tax. That's not fair.  

So, something might be done about it.  

I say "might" because there are caveats and they're big ones.  

National must be re-elected. Its coalition partners would need to agree. That was far from a done deal yesterday. 

And the Government must have the books back in surplus – the plan is 2029/30. 

But as I said yesterday, even then it's wafer-thin, and how many times have we been promised a surplus that doesn't eventuate?  

More times than I can count. It feels like a mirage.  

We'll find out more after the fiscal update at the end of the month. On October 11th, ACT will make its pitch for flatter tax rates.  

New Zealand First is working on a foreign investment tax incentive. The Nats are looking at changes to the R&D tax credit.  

So, tax cuts, rather just hikes, are on the election agenda.  

But not quite worth getting particularly excited about. 

Too many hoops to jump through, hills to climb, and water to go under bridges before this becomes a serious pitch voters should start thinking about and factoring into a decision before November. 

Tax cuts are back on the campaign agenda. &nbsp;
Nicola Willis dropped a wee hint to the BusinessNZ election conference yesterday.&nbsp;
Bracket creep is hurting workers – as wages increase and you creep into a higher tax bracket, you pay more marginal tax. That's not fair. &nbsp;
So, something might be done about it. &nbsp;
I say "might" because there are caveats and they're big ones. &nbsp;
National must be re-elected. Its coalition partners would need to agree. That was far from a done deal yesterday.&nbsp;
And the Government must have the books back in surplus – the plan is 2029/30.&nbsp;
But as I said yesterday, even then it's wafer-thin, and how many times have we been promised a surplus that doesn't eventuate? &nbsp;
More times than I can count. It feels like a mirage. &nbsp;
We'll find out more after the fiscal update at the end of the month. On October 11th, ACT will make its pitch for flatter tax rates. &nbsp;
New Zealand First is working on a foreign investment tax incentive. The Nats are looking at changes to the R&amp;D tax credit. &nbsp;
So, tax cuts, rather just hikes, are on the election agenda. &nbsp;
But not quite worth getting particularly excited about.&nbsp;
Too many hoops to jump through, hills to climb, and water to go under bridges before this becomes a serious pitch voters should start thinking about and factoring into a decision before November.&nbsp;

Ryan Bridge: I wouldn't hold your breath for tax cuts

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/0852d7a3-f75b-426a-a716-b4c6012a909a/transcript

Nicola Willis: Finance Minister on treasury report calculating the total cost of the pandemic at $66 billion

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