Finance Minister Nicola Willis is still committed to giving Kiwis their promised tax cuts.

Willis unveiled a preview of this year's Budget and promised 83 percent of New Zealanders will benefit from incoming tax relief.

ZB political correspondent Barry Soper unpacks Willis' promise - and theorises on who stands to benefit and miss out.

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Finance Minister Nicola Willis is still committed to giving Kiwis their promised tax cuts.
Willis unveiled a preview of this year's Budget and promised 83 percent of New Zealanders will benefit from incoming tax relief.
ZB political correspondent Barry Soper unpacks Willis' promise - and theorises on who stands to benefit and miss out.
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Barry Soper: ZB political correspondent on  the Finance Minister promising tax cuts will be part of Budget 2024

I think we’re about to find out whether this Government has got the cahones to make the tough calls that need to be made on one thing in particular: Asset sales.

If you've been reading political commentary lately, including in the weekend papers, there's been a lot of talk of the need for asset sales. Why?

Because as we said earlier, we have a structural deficit. Which is a very bad thing because it means we are, thanks to Grant Robertson, now spending more than we earn - on the regular.

Treasury's advice for how to fix it? Asset sales.

But asset sales are politically tricky because of the hangover of the 80s. So Chris Luxon's already ruled them out. But he shouldn't have, because we actually need to do this.

Not just because we need the money, but because selling them down makes them better.

Treasury basically admitted this in a report 2 years ago. The ones we own 100 percent have “underperformed their cost of capital” with “ Revenue, earnings and dividends “ all trending “down over the past five years."

The ones we own about 51 percent of have, by contrast, outperformed their cost of capital. The last lot we sold - Mercury. Meridian Energy and Genesis- are now all worth more than they were when we sold them down.

Two of them have doubled in value, which means we still own as much as we did, and they’ve paid us billions - so it’s a no-brainer on every single level.

So the Government should be looking to sell down New Zealand Post, KiwiRail, Kiwibank, TVNZ, the list goes on.

But it’s politically tricky, and Luxon said no.

So- does this Government have the cahones to actually do what it takes to get us out of this economic mess? 

LISTEN ABOVE

I think we’re about to find out whether this Government has got the cahones to make the tough calls that need to be made on one thing in particular: Asset sales. If you've been reading political commentary lately, including in the weekend papers, there's been a lot of talk of the need for asset sales. Why?
Because as we said earlier, we have a structural deficit. Which is a very bad thing because it means we are, thanks to Grant Robertson, now spending more than we earn - on the regular.
Treasury's advice for how to fix it? Asset sales. But asset sales are politically tricky because of the hangover of the 80s. So Chris Luxon's already ruled them out. But he shouldn't have, because we actually need to do this.
Not just because we need the money, but because selling them down makes them better.
Treasury basically admitted this in a report 2 years ago. The ones we own 100 percent have “underperformed their cost of capital” with “ Revenue, earnings and dividends “ all trending “down over the past five years."
The ones we own about 51 percent of have, by contrast, outperformed their cost of capital. The last lot we sold - Mercury. Meridian Energy and Genesis- are now all worth more than they were when we sold them down.
Two of them have doubled in value, which means we still own as much as we did, and they’ve paid us billions - so it’s a no-brainer on every single level.
So the Government should be looking to sell down New Zealand Post, KiwiRail, Kiwibank, TVNZ, the list goes on.
But it’s politically tricky, and Luxon said no.
So- does this Government have the cahones to actually do what it takes to get us out of this economic mess? 
LISTEN ABOVE

Heather du Plessis Allan: We can't rule out asset sales

Over in Australia, NSW authorities have arrested at least 500 people for domestic and family violence offences.

A four-day operation was carried out from Wednesday to Saturday - where 554 people were arrested and 1,070 charges were laid.

Australian correspondent Oliver Peterson wonders why it's taken so long to carry out these arrests, given several had outstanding warrants. 

LISTEN ABOVE

Over in Australia, NSW authorities have arrested at least 500 people for domestic and family violence offences.
A four-day operation was carried out from Wednesday to Saturday - where 554 people were arrested and 1,070 charges were laid.
Australian correspondent Oliver Peterson wonders why it's taken so long to carry out these arrests, given several had outstanding warrants. 
LISTEN ABOVE

Oliver Peterson: Australian correspondent on the 554 people being arrested in domestic violence crackdown

The Warriors have snapped a four-game losing streak in league's NRL by posting a win over the three-time premier Panthers.

Tuaupiki's try in the 71st minute tied the game before his conversion from out wide proved the decider in the 22-20 win. 

Sportstalk host Jason Pine explains the victory further.

LISTEN ABOVE

The Warriors have snapped a four-game losing streak in league's NRL by posting a win over the three-time premier Panthers.
Tuaupiki's try in the 71st minute tied the game before his conversion from out wide proved the decider in the 22-20 win. 
Sportstalk host Jason Pine explains the victory further.
LISTEN ABOVE

Barry Soper: ZB political correspondent on the Finance Minister promising tax cuts will be part of Budget 2024

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