Possible corporate tax cuts could be on the way in this year's Budget. 

Nicola Willis told Ryan Bridge yesterday that our corporate tax system isn't competitive enough with other countries, hinting at potential changes. 

Christopher Luxon confirmed to Mike Hosking this morning that they're willing to make changes, and there's a lot of possible options. 

Dentons Kensington Swan Tax Partner Bruce Bernacchi told Kerre Woodham that there is an opportunity for New Zealand to bring in increased economic activity by multinationals and other wealthy investors by doing something bold.  

He says he’d like to see something a lot more bold than just dropping it down to the OECD average.  

LISTEN ABOVE 

Possible corporate tax cuts could be on the way in this year's Budget.&nbsp;
Nicola Willis told Ryan Bridge yesterday that our corporate tax system isn't competitive enough with other countries, hinting at potential changes.&nbsp;
Christopher Luxon confirmed to Mike Hosking this morning that they're willing to make changes, and there's a lot of possible options.&nbsp;
Dentons Kensington Swan Tax Partner Bruce Bernacchi told Kerre Woodham that there is an opportunity for New Zealand to bring in increased economic activity by multinationals and other wealthy investors by doing something bold. &nbsp;
He says he’d like to see something a lot more bold than just dropping it down to the OECD average. &nbsp;
LISTEN ABOVE&nbsp;

Join Kerre Woodham one of New Zealand’s best loved personalities as she dishes up a bold, sharp and energetic show Monday to Friday 9am-12md on Newstalk ZB. News, opinion, analysis, lifestyle and entertainment – we’ve got your morning listening covered.

Kerre Woodham Mornings Podcast

Bruce Bernacchi: Dentons Kensington Swan Tax Partner on the possibility and impact of a corporate tax cut

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/15e6cf42-11e0-408a-8509-b279017ab76f/transcript

In today's edition of Fuel Watch, the Green Party is offering its votes to the National Party to get on with passing what the Greens call a sensible and urgent fossil fuel crisis relief package.

And you know what, it is quite sensible.

They're not suggesting a horse and cart for every home - that's sensible. With the Greens and National's combined 63 votes, the Greens say you don't need any other political party to get this through.

Their proposed package includes making public transport free for users, not forever, just while the Straits of Hormuz are compromised, a relief payment for low income people or people who live rurally to help meet additional transport costs, a windfall profits tax to prevent corporate price gouging, that's particularly Green, I think you'd be fair to say, reversing changes to school bus eligibility and routes, temporary expansion of eligibility for school buses, reversing the government's intended reduction in total mobility support for disabled people, and increasing the mileage rates to the 23,000 care and support workers to meet their actual travel costs, which we discussed the other day.

Now, none of these are particularly silly, are they?

Chlöe Swarbrick, the Green Party co leader, says New Zealanders expect politicians to do everything we can to support people through this immediate crisis and to minimise future vulnerability by reducing fossil fuel dependence. And she's not wrong.

You know, normally we would probably be able to weather this particular storm. It won't last forever, there'll be a resolution one way or the other.

And, normally families would be able to accommodate this, but it's been five years of scrimping and saving and compromising for many, many working families.

You know, they've had to cope with inflation and increases in mortgage payments or rents, increased food costs, increased insurance, increased rates, things that you simply cannot compromise on.

These are things you have to have, they're not nice-to-haves, they're must-haves, and it's been tough going.

And for many families, this is like the straw that breaks the camel's back.

It wouldn't be forever, the sort of relief they're talking about.

It wouldn't be, I suppose they'd quite like to see, you know, public transport being free forever, but you know, I think that's not what they've said.

They've said that there are people right now who are hurting, who cannot, cannot make any further compromises in their budgets, and they need assistance.

I don't think there's a lot wrong with what they're suggesting.

I know this coalition government, quite rightly, is wary of throwing money out to all and sundry, as we saw with the Covid spend up, but I'm absolutely certain they have the tools and the philosophy to target assistance where it should be targeted, as the Prime Minister bangs on, you know, timely, targeted, and temporary.

So that's precisely what the Greens are suggesting. Nicola Willis, the Finance Minister, has ruled out across the board price cuts, fair enough, not everybody does need support.

We grabbed the PM on his way out after chatting to Mike and said, well come on, what about the Greens? And he said, "yes, yes, yes, we're already working on some of these measures", but all very well and good. 

The people who need support needed it last week, not yes, yes, yes, we're working on it, you know, in the future. People need it now to get to work. And people are willing to use the buses.

I don't know what's happening in your city, but in Auckland, it recorded its busiest day on public transport in seven years, and that was last Tuesday. 7,000 more trips than the previous busiest day, which was two weeks ago.

So people are, are feeling it.

And if they can make alternative transport arrangements, they will. And if they find, through trying out public transport, that it actually works for them, that's got to benefit everybody.

The road users, public transport, people's pockets.

Just because the Greens suggest something, I don't think it should be dismissed or snorted at, you take every suggestion on its merits, and in this particular case, I think the Greens have got a point.

I note that their targeted assistance didn't cover the food producers, and I think they could probably do with a break.

I think John talked about that when he was doing the show.

You know, and they may well be able to get through this without having to hoick the prices up too much.

I suppose it's a bit much to expect the Greens to offer targeted assistance to food producers. They seem to think we should all be breatharians, but does this cover off the Green's suggestion, the public transport free for users for a certain amount of time, a relief payment for low income people or people who live rurally, increasing the mileage rates for the care and support workers?

I don't see that as being particularly egregiously extravagant or silly or nonsensical.

These are the people who need help, who need it now, and who need that help while the oil prices are going through the roof and consequently the price at the pump is going through the roof.

There's only so much people can take, and they've taken a lot, these working families, for the last five to six years.

LISTEN ABOVE 

In today's edition of Fuel Watch, the Green Party is offering its votes to the National Party to get on with passing what the Greens call a sensible and urgent fossil fuel crisis relief package.
And you know what, it is quite sensible.
They're not suggesting a horse and cart for every home - that's sensible. With the Greens and National's combined 63 votes, the Greens say you don't need any other political party to get this through.
Their proposed package includes making public transport free for users, not forever, just while the Straits of Hormuz are compromised, a relief payment for low income people or people who live rurally to help meet additional transport costs, a windfall profits tax to prevent corporate price gouging, that's particularly Green, I think you'd be fair to say, reversing changes to school bus eligibility and routes, temporary expansion of eligibility for school buses, reversing the government's intended reduction in total mobility support for disabled people, and increasing the mileage rates to the 23,000 care and support workers to meet their actual travel costs, which we discussed the other day.
Now, none of these are particularly silly, are they?
Chlöe Swarbrick, the Green Party co leader, says New Zealanders expect politicians to do everything we can to support people through this immediate crisis and to minimise future vulnerability by reducing fossil fuel dependence. And she's not wrong.
You know, normally we would probably be able to weather this particular storm. It won't last forever, there'll be a resolution one way or the other.
And, normally families would be able to accommodate this, but it's been five years of scrimping and saving and compromising for many, many working families.
You know, they've had to cope with inflation and increases in mortgage payments or rents, increased food costs, increased insurance, increased rates, things that you simply cannot compromise on.
These are things you have to have, they're not nice-to-haves, they're must-haves, and it's been tough going.
And for many families, this is like the straw that breaks the camel's back.
It wouldn't be forever, the sort of relief they're talking about.
It wouldn't be, I suppose they'd quite like to see, you know, public transport being free forever, but you know, I think that's not what they've said.
They've said that there are people right now who are hurting, who cannot, cannot make any further compromises in their budgets, and they need assistance.
I don't think there's a lot wrong with what they're suggesting.
I know this coalition government, quite rightly, is wary of throwing money out to all and sundry, as we saw with the Covid spend up, but I'm absolutely certain they have the tools and the philosophy to target assistance where it should be targeted, as the Prime Minister bangs on, you know, timely, targeted, and temporary.
So that's precisely what the Greens are suggesting. Nicola Willis, the Finance Minister, has ruled out across the board price cuts, fair enough, not everybody does need support.
We grabbed the PM on his way out after chatting to Mike and said, well come on, what about the Greens? And he said, "yes, yes, yes, we're already working on some of these measures", but all very well and good.&nbsp;
The people who need support needed it last week, not yes, yes, yes, we're working on it, you know, in the future. People need it now to get to work. And people are willing to use the buses.
I don't know what's happening in your city, but in Auckland, it recorded its busiest day on public transport in seven years, and that was last Tuesday. 7,000 more trips than the previous busiest day, which was two weeks ago.
So people are, are feeling it.
And if they can make alternative transport arrangements, they will. And if they find, through trying out public transport, that it actually works for them, that's got to benefit everybody.
The road users, public transport, people's pockets.
Just because the Greens suggest something, I don't think it should be dismissed or snorted at, you take every suggestion on its merits, and in this particular case, I think the Greens have got a point.
I note that their targeted assistance didn't cover the food producers, and I think they could probably do with a break.
I think John talked about that when he was doing the show.
You know, and they may well be able to get through this without having to hoick the prices up too much.
I suppose it's a bit much to expect the Greens to offer targeted assistance to food producers. They seem to think we should all be breatharians, but does this cover off the Green's suggestion, the public transport free for users for a certain amount of time, a relief payment for low income people or people who live rurally, increasing the mileage rates for the care and support workers?
I don't see that as being particularly egregiously extravagant or silly or nonsensical.
These are the people who need help, who need it now, and who need that help while the oil prices are going through the roof and consequently the price at the pump is going through the roof.
There's only so much people can take, and they've taken a lot, these working families, for the last five to six years.
LISTEN ABOVE&nbsp;

Kerre Woodham: The Greens' fuel relief package should be seriously considered

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/0ebb31ec-5e2a-4046-ad04-b41501880c65/transcript

The Green Party is offering its support to National to fast-track a fossil fuel relief package, bypasssing other parties with their combined 63 votes.

The proposal includes three months of free public transport, a windfall tax on fuel companies, and targeted payments for rural and low-income earners.

The Green Party co-leader Chloe Swarbrick told Kerre Woodham, "we have put a sensible and urgent fossil fuel crisis relief package on the table, and we're really willing and able to work with the National Party to make it happen."

LISTEN ABOVE 

The Green Party is offering its support to National to fast-track a fossil fuel relief package, bypasssing other parties with their combined 63 votes.
The proposal includes three months of free public transport, a windfall tax on fuel companies, and targeted payments for rural and low-income earners.
The Green Party co-leader Chloe Swarbrick told Kerre Woodham, "we have put a sensible and urgent fossil fuel crisis relief package on the table, and we're really willing and able to work with the National Party to make it happen."
LISTEN ABOVE&nbsp;

Chloe Swarbrick: Green Party co-leader on proposed fossil fuel relief package

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/7567811e-b830-42e5-92ac-b41501653b1a/transcript

To me, what is news is the fact that there are so many people who are working vital jobs, who are doing incredibly important work like our home support workers, and they are really struggling because of the petrol prices. That to me is news, and that to me is something we can do something about. That is going to impact us all as petrol prices surge past three bucks a litre. Sky appears to be the limit. It's going to impact all of us, even the EV drivers who'll end up paying more for anything that's delivered by road. But it's the people like the home support workers who rely on their own cars and fuel to visit their clients that you worry about. It's particularly tough.  

Their union, E tū, is urging the Minister of Health to step in and increase the mileage reimbursement rate for home support workers. There is a review scheduled of travel payments before the 20th of May, but for many that'll be too late. Home support workers are currently reimbursed at 63.5 cents per kilometre, averaged to 3.8kms per visit regardless of the actual distance, unless they reach a specific threshold. The rate was last increased in 2022 – things are vastly different now. Workers receive nothing towards vehicle registration, warrant, servicing, tyres, or insurance, all of which they must cover themselves. Freight companies have contracts that enable them to hedge their fuel costs, but of course home support workers don't.  

At what point is it actually costing you to go to work? There was a text a few days ago from, I think it was a St John trainer, but they were a person who taught CPR and they have to wander around with a dummy to do the CPR on and said they couldn't catch the bus, but I felt that if you put the dummy next to you on the bus then you wouldn't have to sit next to someone you didn't want to. Thought that would be a useful shield. But they were saying they have to go city to city, Auckland to Hamilton, Auckland to Tauranga. At what point does it cost you to go to work? At what point do you say I simply cannot afford to do this? And there are so many workers who need their cars to either do the job, as in our home support carers, or to get to work. You're living somewhere where the rent is cheaper or the cost of a home is cheaper, but you have to drive a long way to get to your actual place of work.  

In this week's edition of Fuel Watch, I'm asking at what point do you think ‘I simply cannot afford to do my job any longer or to get to work any longer’? Have you reached that point yet? I mean we're past $3, I think, at one of the cheapest fuel stations, this was for 95 though, it was $3.26. Hitting $4 is not beyond the realm of possibility. At what point are you going to go I can't do this anymore? E tū are saying the Government, the Minister of Health, needs to step in and help out the home support workers whose work is vital. Without them you would have people in wards, in hospitals, clogging them up. You need to have that continuum of care starting with GPs working your way through to the home support workers. They're a vital part of the chain. 

To me, what is news is the fact that there are so many people who are working vital jobs, who are doing incredibly important work like our home support workers, and they are really struggling because of the petrol prices. That to me is news, and that to me is something we can do something about. That is going to impact us all as petrol prices surge past three bucks a litre. Sky appears to be the limit. It's going to impact all of us, even the EV drivers who'll end up paying more for anything that's delivered by road. But it's the people like the home support workers who rely on their own cars and fuel to visit their clients that you worry about. It's particularly tough. &nbsp;
Their union, E tū, is urging the Minister of Health to step in and increase the mileage reimbursement rate for home support workers. There is a review scheduled of travel payments before the 20th of May, but for many that'll be too late. Home support workers are currently reimbursed at 63.5 cents per kilometre, averaged to 3.8kms per visit regardless of the actual distance, unless they reach a specific threshold. The rate was last increased in 2022 – things are vastly different now. Workers receive nothing towards vehicle registration, warrant, servicing, tyres, or insurance, all of which they must cover themselves. Freight companies have contracts that enable them to hedge their fuel costs, but of course home support workers don't. &nbsp;
At what point is it actually costing you to go to work? There was a text a few days ago from, I think it was a St John trainer, but they were a person who taught CPR and they have to wander around with a dummy to do the CPR on and said they couldn't catch the bus, but I felt that if you put the dummy next to you on the bus then you wouldn't have to sit next to someone you didn't want to. Thought that would be a useful shield. But they were saying they have to go city to city, Auckland to Hamilton, Auckland to Tauranga. At what point does it cost you to go to work? At what point do you say I simply cannot afford to do this? And there are so many workers who need their cars to either do the job, as in our home support carers, or to get to work. You're living somewhere where the rent is cheaper or the cost of a home is cheaper, but you have to drive a long way to get to your actual place of work. &nbsp;
In this week's edition of Fuel Watch, I'm asking at what point do you think ‘I simply cannot afford to do my job any longer or to get to work any longer’? Have you reached that point yet? I mean we're past $3, I think, at one of the cheapest fuel stations, this was for 95 though, it was $3.26. Hitting $4 is not beyond the realm of possibility. At what point are you going to go I can't do this anymore? E tū are saying the Government, the Minister of Health, needs to step in and help out the home support workers whose work is vital. Without them you would have people in wards, in hospitals, clogging them up. You need to have that continuum of care starting with GPs working your way through to the home support workers. They're a vital part of the chain.&nbsp;

Kerre Woodham: At what point does it become unaffordable to work?

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/1f69ea9b-2a10-48ea-be34-b4100180abf5/transcript

Bruce Bernacchi: Dentons Kensington Swan Tax Partner on the possibility and impact of a corporate tax cut

In 1 playlist(s)

Kerre Woodham Mornings Podcast

Social links

Follow podcast

Recent clips