A warning there'll be problems, if no changes are made to superannuation.

Outgoing Treasury boss Dr Caralee McLiesh has made it clear there's a need for a Capital Gains Tax and changes to super, as the population ages.

She points out an increasing share of Government transfers are going to the wealthy.

Former Reserve Bank economist Michael Reddell told Mike Hosking there's a need to increase the age of eligibility.

He says however, it could take another crisis for someone in elect policy circles to make the move.

LISTEN ABOVE

A warning there'll be problems, if no changes are made to superannuation.
Outgoing Treasury boss Dr Caralee McLiesh has made it clear there's a need for a Capital Gains Tax and changes to super, as the population ages.
She points out an increasing share of Government transfers are going to the wealthy.
Former Reserve Bank economist Michael Reddell told Mike Hosking there's a need to increase the age of eligibility.
He says however, it could take another crisis for someone in elect policy circles to make the move.
LISTEN ABOVE

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The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.The sharpest voice and mind in the business, Mike drives strong opinion,...

The Mike Hosking Breakfast

Michael Reddell: On problems if no changes are made to superannuation

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/e954f4d8-8525-4ef2-a7ed-b1de0150665f/transcript

So let me get this right, just so we know where we’re at. 

The Labour Party —who, I'm assuming, still want to be taken seriously this election— have had a major issue up to this point. 

They have no policies. 

The one policy they do have is a new tax, and the money from that new tax will pay for all of us to go to the doctor three times. 

Even though a lot of us —to be frank, probably most of us— don’t actually need the state to pay for a doctor’s visit. 

Their other policy we sort of knew about was the Future Fund. 

It would contain SOEs, whose dividends would go into it to create jobs and grow the economy. 

Update on the Future Fund: we aren’t going to know about that until after the election. The good news is they’re not winning the election, so it sort of doesn’t matter. 

But they will make it even harder to have a crack at winning the election now, given voters sort of want to know what stuff costs, especially large stuff. 

Further trouble is that the hold-up is they need advice on "Treaty obligations". 

That’s right, bogged down yet again in matters Māori. 

Originally, they told us the SOEs involved were commercially sensitive, now it’s Treaty troubles. 

Previously, Chris Hipkins said this fund would create jobs. Yesterday, Barbara Edmonds didn’t know how many because that would depend on what the fund invested in, which SOEs were in the fund, and what advice they got around Treaty obligations. 

So no job stats, no cost stats, no real detail on who’s in and who isn’t on what they call one of their cornerstone policies. 

So no policies, until there is a policy. But it’s sort of a secret policy that, if you vote for us, we’ll tell you about after the election. 

Small question at this point: do they honestly believe we are that stupid? That this is any sort of way to conduct an election campaign? That this is any sort of excuse this close to an election? 

Are they smarter than we think and this is basically their white flag, because they don’t want to be in Government anyway? 

Part of what haunts them from last time is their inability to actually do anything apart from spray money. 

They talk. They don’t do. 

Three years on they have clearly learned nothing. 

So let me get this right, just so we know where we’re at.&nbsp;
The Labour Party —who, I'm assuming, still want to be taken seriously this election— have had a major issue up to this point.&nbsp;
They have no policies.&nbsp;
The one policy they do have is a new tax, and the money from that new tax will pay for all of us to go to the doctor three times.&nbsp;
Even though a lot of us —to be frank, probably most of us— don’t actually need the state to pay for a doctor’s visit.&nbsp;
Their other policy we sort of knew about was the Future Fund.&nbsp;
It would contain SOEs, whose dividends would go into it to create jobs and grow the economy.&nbsp;
Update on the Future Fund: we aren’t going to know about that until after the election. The good news is they’re not winning the election, so it sort of doesn’t matter.&nbsp;
But they will make it even harder to have a crack at winning the election now, given voters sort of want to know what stuff costs, especially large stuff.&nbsp;
Further trouble is that the hold-up is they need advice on "Treaty obligations".&nbsp;
That’s right, bogged down yet again in matters Māori.&nbsp;
Originally, they told us the SOEs involved were commercially sensitive, now it’s Treaty troubles.&nbsp;
Previously, Chris Hipkins said this fund would create jobs. Yesterday, Barbara Edmonds didn’t know how many because that would depend on what the fund invested in, which SOEs were in the fund, and what advice they got around Treaty obligations.&nbsp;
So no job stats, no cost stats, no real detail on who’s in and who isn’t on what they call one of their cornerstone policies.&nbsp;
So no policies, until there is a policy. But it’s sort of a secret policy that, if you vote for us, we’ll tell you about after the election.&nbsp;
Small question at this point: do they honestly believe we are that stupid? That this is any sort of way to conduct an election campaign? That this is any sort of excuse this close to an election?&nbsp;
Are they smarter than we think and this is basically their white flag, because they don’t want to be in Government anyway?&nbsp;
Part of what haunts them from last time is their inability to actually do anything apart from spray money.&nbsp;
They talk. They don’t do.&nbsp;
Three years on they have clearly learned nothing.&nbsp;

Mike's Minute: Labour's lack of detail show they've learned nothing

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/4fff8537-14ff-46c2-9776-b44f01754500/transcript

Donald Trump's warning further attacks on Iran are still possible, despite backing down this week.  

The US President called off the strikes after requests from Qatar, Saudi Arabia, and the UAE.  

He says officials are still locked in negotiations with Iran, and he claims Democrats are trying to stop him.  

US Correspondent Richard Arnold told Mike Hosking this is the sixth time Trump has been on the verge of initiating military strikes and has pulled back. 

He says it comes amid word Iran’s Foreign Minister met with Pakistan’s Interior Minister and they claim there’s diplomatic progress. 

LISTEN ABOVE 

Donald Trump's warning further attacks on Iran are still possible, despite backing down this week. &nbsp;
The US President called off the strikes after requests from Qatar, Saudi Arabia, and the UAE. &nbsp;
He says officials are still locked in negotiations with Iran, and he claims Democrats are trying to stop him. &nbsp;
US Correspondent Richard Arnold told Mike Hosking this is the sixth time Trump has been on the verge of initiating military strikes and has pulled back.&nbsp;
He says it comes amid word Iran’s Foreign Minister met with Pakistan’s Interior Minister and they claim there’s diplomatic progress.&nbsp;
LISTEN ABOVE&nbsp;

Richard Arnold: US Correspondent on Donald Trump pulling back from striking Iran, ongoing negotiations

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/e8135bed-19b5-4b57-9a22-b44f0173f0b2/transcript

It’s been a busy start to the week, and Mark Mitchell and Ginny Andersen are back with Mike Hosking to delve into some of the biggest political stories so far on Politics Wednesday. 

They discussed Labour’s Future Fund policy, which is light on the details, Winston Peters’ idea to buy back BNZ, and the Government’s cuts to and plans for the public service. 

LISTEN ABOVE 

It’s been a busy start to the week, and Mark Mitchell and Ginny Andersen are back with Mike Hosking to delve into some of the biggest political stories so far on Politics Wednesday.&nbsp;
They discussed Labour’s Future Fund policy, which is light on the details, Winston Peters’ idea to buy back BNZ, and the Government’s cuts to and plans for the public service.&nbsp;
LISTEN ABOVE&nbsp;

Pollies: National's Mark Mitchell and Labour's Ginny Andersen discuss Labour's Future Fund, Winston Peters' idea for BNZ, and public service cuts

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/a14438f9-d194-4b3b-93b9-b44f016ccb70/transcript

Michael Reddell: On problems if no changes are made to superannuation

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