Luxury spending has been booming over the last couple of decades, but many high-end brands have been taking a financial hit.

Gucci, Chanel, and Louis Vuitton have been seeing significant revenue falls since the Covid-19 pandemic.

Fisher Funds' Sam Dickie reveals what could be behind the downturn.

LISTEN ABOVE

Luxury spending has been booming over the last couple of decades, but many high-end brands have been taking a financial hit.
Gucci, Chanel, and Louis Vuitton have been seeing significant revenue falls since the Covid-19 pandemic.
Fisher Funds' Sam Dickie reveals what could be behind the downturn.
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

Sam Dickie: Fisher Funds expert on the luxury sector's economic troubles

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/f3d2776e-5107-4209-aea9-b347008427c9/transcript

Let's talk about this business with the pension age.

Chris Luxon has said twice today that he wants the pension age to go up to 67.

He said it once on Kerre’s show this morning, and then at a post-Budget lunch speaking to business leaders, he repeated it and he told them that this is basically going to be election policy for National next year.

Now, regardless of how you may feel about this, I mean, you'd have to be coming around to the realisation, wouldn't you, that we are inching closer and closer to this thing actually happening.

Especially after the changes that the Government made to our KiwiSaver retirement funds yesterday.

It's not long now.

I think that the Government will have completely wound down its government support of KiwiSaver, and then it's gonna come after the pension next, isn't it?

This is where I think it gets tricky, because this is not just about money for people.

This is emotional.

Let me lay out the emotional argument for you as it plays out in my head, okay?

It goes like this: don't touch my pension. You can touch anything else. Do not touch my pension.

I don't care if they take away every other piece of welfare that is available to me and other people.

In fact, I would actually welcome it, because I think there is way too much welfare in this country for the middle class who don't actually need it.

You get a best start payment for having a newborn. You're having a baby. They give you money.

You get the winter energy payment. You get Working for Families, which I think is a crime.

You get the subsidised childcare for sending your kid to kindy. You get free tertiary education for the 3rd year, God only knows why.

Free government money for your KiwiSaver.

Now, as far as I'm concerned, there's way too much of that stuff going on. They can take all of that away. If they don't want to take it away, they can means test it so that actually the most, and only the most needy in this country get it.

But I will do everything I can to stop them touching my pension. Because I have earned that money.

This is not a question about whether I need that money, it is that I have earned that money.

I, like you, have contributed huge amounts of tax to this country, and actually I have not claimed very much back for myself.

It's certainly not anywhere near how much I have put in.

The only thing that stops me from being very sour about how much money they take out of my pay packet every year and the wasting of that money and the bludging by some on that money is the knowledge that when I hit 65 and want to retire, I will get a little bit back.

Call it a goodwill gesture from the government, if you like, a government who I have helped prop up just like you have for donkeys' years, by the time that money comes into my bank account.

So, good luck to Chris Luxon getting this one across the line.

I think it's going to be one of the hardest fights to win because of the emotional argument that I have just laid out for you. I think they might find it easier to take away a lot of other welfare first.

And unless they take away a lot of other welfare first, I am not budging on the pension.

Let's talk about this business with the pension age.
Chris Luxon has said twice today that he wants the pension age to go up to 67.
He said it once on Kerre’s show this morning, and then at a post-Budget lunch speaking to business leaders, he repeated it and he told them that this is basically going to be election policy for National next year.
Now, regardless of how you may feel about this, I mean, you'd have to be coming around to the realisation, wouldn't you, that we are inching closer and closer to this thing actually happening.
Especially after the changes that the Government made to our KiwiSaver retirement funds yesterday.
It's not long now.
I think that the Government will have completely wound down its government support of KiwiSaver, and then it's gonna come after the pension next, isn't it?
This is where I think it gets tricky, because this is not just about money for people.
This is emotional.
Let me lay out the emotional argument for you as it plays out in my head, okay?
It goes like this: don't touch my pension. You can touch anything else. Do not touch my pension.
I don't care if they take away every other piece of welfare that is available to me and other people.
In fact, I would actually welcome it, because I think there is way too much welfare in this country for the middle class who don't actually need it.
You get a best start payment for having a newborn. You're having a baby. They give you money.
You get the winter energy payment. You get Working for Families, which I think is a crime.
You get the subsidised childcare for sending your kid to kindy. You get free tertiary education for the 3rd year, God only knows why.
Free government money for your KiwiSaver.
Now, as far as I'm concerned, there's way too much of that stuff going on. They can take all of that away. If they don't want to take it away, they can means test it so that actually the most, and only the most needy in this country get it.
But I will do everything I can to stop them touching my pension. Because I have earned that money.
This is not a question about whether I need that money, it is that I have earned that money.
I, like you, have contributed huge amounts of tax to this country, and actually I have not claimed very much back for myself.
It's certainly not anywhere near how much I have put in.
The only thing that stops me from being very sour about how much money they take out of my pay packet every year and the wasting of that money and the bludging by some on that money is the knowledge that when I hit 65 and want to retire, I will get a little bit back.
Call it a goodwill gesture from the government, if you like, a government who I have helped prop up just like you have for donkeys' years, by the time that money comes into my bank account.
So, good luck to Chris Luxon getting this one across the line.
I think it's going to be one of the hardest fights to win because of the emotional argument that I have just laid out for you.&nbsp;I think they might find it easier to take away a lot of other welfare first.
And unless they take away a lot of other welfare first, I am not budging on the pension.

Best of 2025: Heather du Plessis-Allan - Don't touch my pension

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/2f5afd5c-e35e-401f-b48f-b3d000298c7e/transcript

'Rotten, corrupt': Tiki Taane takes aim at Spotify as Kiwi artists boycott platform

Many of New Zealand's biggest musicians are boycotting Spotify and ditching the platform amid accusations of exploitation.

Tiki Taane and The Bats are among the big names getting behind Boycott Spotify NZ and other Kiwi bands like Carb on Carb, Synthetic Children and Recitals have signed the statement calling for better treatment. 

Taane has cited greed, corruption and investment in European defence technology company Helsing as some of the key reasons why he's walking away.

"I love music, I love creating music, but I also have to take a stand against corruption, against greed, against war, against murder - the easiest thing for me to do to help support that is to take my music off the platform and cancel my subscription." 

LISTEN ABOVE

<h2>'Rotten, corrupt': Tiki Taane takes aim at Spotify as Kiwi artists boycott platform</h2>
Many of New Zealand's biggest musicians are boycotting Spotify and ditching the platform amid accusations of exploitation.
Tiki Taane and The Bats are among the big names getting behind Boycott Spotify NZ and other Kiwi bands like Carb on Carb, Synthetic Children and Recitals have signed the statement calling for better treatment.&nbsp;
Taane has cited greed, corruption and investment in European defence technology company Helsing as some of the key reasons why he's walking away.
"I love music, I love creating music, but I also have to take a stand against corruption, against greed, against war, against murder - the easiest thing for me to do to help support that is to take my music off the platform and cancel my subscription."&nbsp;
LISTEN ABOVE

Best of 2025: Tiki Taane talks the Spotify boycott on Heather du Plessis-Allan Drive

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/90bede4a-e863-4581-8ffb-b3ca00298e04/transcript

Tonight on The Huddle, Trish Sherson from Sherson Willis PR and Child Fund CEO Josie Pagani joined in on a discussion about the following issues of the day - and more!

There's growing calls to scrap NCEA - and the Government is looking to make some changes to the qualification. What do we make of this?

Coldplay's Chris Martin is now warning adulterers to disentangle before the kiss cam comes on. What do we think of this saga? Should the CEO have had to resign? 

The Government has confirmed the new Waikato medical school is under way - do we see the costs blowing out?

LISTEN ABOVE

Tonight on The Huddle, Trish Sherson from Sherson Willis PR and Child Fund CEO Josie Pagani joined in on a discussion about the following issues of the day - and more!
There's growing calls to scrap NCEA - and the Government is looking to make some changes to the qualification. What do we make of this?
Coldplay's Chris Martin is now warning adulterers to disentangle before the kiss cam comes on. What do we think of this saga? Should the CEO have had to resign?&nbsp;
The Government has confirmed the new Waikato medical school is under way - do we see the costs blowing out?
LISTEN ABOVE

Best of 2025: The Huddle - Scrapping NCEA and the Coldplay kiss cam

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/c853c4ea-1b46-4f52-97d0-b3c70029941a/transcript

Sam Dickie: Fisher Funds expert on the luxury sector's economic troubles

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