Latest / Early Edition with Ryan Bridge / Anita Baker: Porirua Mayor on the cost of the Government's Local Water Done Well plan

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Anita Baker: Porirua Mayor on the cost of the Government's Local Water Done Well plan · Early Edition with Ryan Bridge

• 0:00
  Speaker 1: Congratulations, we've made it to summer. We've made it to
• 0:02
  Speaker 1: the end of the year. Well almost there, almost there.
• 0:04
  Speaker 1: It is the first of December, and the housing market
• 0:07
  Speaker 1: is once again in the driver's seat for the economy,
• 0:10
  Speaker 1: but not heading in the direction that we're used to,
• 0:12
  Speaker 1: is it. Yes, the recovery is underway, but the brutal
• 0:16
  Speaker 1: truth of twenty twenty five I think was summed up
• 0:19
  Speaker 1: rather well by Sir Bill English in an interview about
• 0:21
  Speaker 1: the current state of play. Basically, this protracted downturn, which
• 0:26
  Speaker 1: for anyone living outside Queenstown or living on a dairy
• 0:29
  Speaker 1: farm has felt about as drawn out and depressing as
• 0:31
  Speaker 1: a COVID lockdown, has been made worse by the housing market,
• 0:36
  Speaker 1: not better. It's not firing back into life like it
• 0:39
  Speaker 1: usually would at the stage of the cycle. The wealth
• 0:42
  Speaker 1: effect hasn't kicked in. The recovery is taking longer. In
• 0:46
  Speaker 1: the long run. English argues this is a good thing
• 0:49
  Speaker 1: because supply has been coming on, Planning laws are being changed.
• 0:53
  Speaker 1: You know, we've got intensification coming for the big cities.
• 0:56
  Speaker 1: This should keep prices low or in some cases see
• 0:59
  Speaker 1: them full. Does that make it any easier to stomach? No?
• 1:03
  Speaker 1: Is he right. Probably, if it's happening, this structural shift
• 1:08
  Speaker 1: is going to create headaches for anyone relying on property
• 1:11
  Speaker 1: and a boom in property in order to get rich.
• 1:14
  Speaker 1: Like hmm, I don't know who's relying on property, who's
• 1:19
  Speaker 1: relying on capital gains for money for revenue? Well, hipkins
• 1:24
  Speaker 1: and labor. Of course, they were out at the weekend
• 1:26
  Speaker 1: making it rain with cash, this time on GP clinics
• 1:30
  Speaker 1: who apparently can't get bank loans to start practices which
• 1:33
  Speaker 1: are effectively licenses to print money, like the free GP
• 1:37
  Speaker 1: visits for billionaires and the rest of us. The policy
• 1:40
  Speaker 1: relies on revenue from a capital gains tax. What if
• 1:43
  Speaker 1: those gains don't happen, or they don't happen to the
• 1:47
  Speaker 1: extent that they assume that they will. What if the
• 1:50
  Speaker 1: gains look more of the sort that we've seen over
• 1:52
  Speaker 1: the last few years, i e. Nothing or losses than
• 1:55
  Speaker 1: what what's that old saying about your mouth writing check
• 2:00
  Speaker 1: that your ass can't cash. I think that comes into
• 2:03
  Speaker 1: play here. Without those Golden year capital gains increases, it
• 2:08
  Speaker 1: won't just be the economy feeling their loss, but politicians
• 2:12
  Speaker 1: with big spending agendas also For more from early edition
• 2:16
  Speaker 1: with Ryan Bridge. Listen live to News Talk Set B
• 2:19
  Speaker 1: from five am weekdays, or follow the podcast on iHeartRadio