Latest / Best of Business / Karl Dean: Federated Farmers Dairy Chair says new KiwiSaver rules are a win for rural staff

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Karl Dean: Federated Farmers Dairy Chair says new KiwiSaver rules are a win for rural staff · Best of Business

• 0:09
  Speaker 1: You're listening to a podcast from News Talks be follow
• 0:12
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• 0:16
  Speaker 2: Good News over the weekend for a bunch of farmers,
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  Speaker 2: are some teachers as well. With changes to this Kiwi Saver,
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  Speaker 2: it'll be able to be used for a first home
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  Speaker 2: or farm. Previously you had to live on the property
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  Speaker 2: to qualify. A lot of people get property through their employer.
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  Speaker 2: Of course. Karl Deene is the Federated Farmer's Dairy Chair
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  Speaker 2: and as well as Carl Morning to you morning might
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  Speaker 2: Has this been a major.
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  Speaker 3: Yeah, this has been a major. We've been working on
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  Speaker 3: this for the Royal Communities for us five years.
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  Speaker 2: So this will be a win. You see, this is
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  Speaker 2: a win.
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  Speaker 3: We do see. This is the win once it is
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  Speaker 3: all through parliament, but that could take another probably eight
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  Speaker 3: to ten months, maybe a year.
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  Speaker 2: Who is out there that will be taking advantage of this.
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  Speaker 2: There are young people obviously in Key we Saver and
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  Speaker 2: they're doing what they're sheer milk is on a farm.
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  Speaker 2: Who are they?
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  Speaker 3: Well, when you think of there's about fifty thousand farms
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  Speaker 3: in New Hilt and the average one might have one
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  Speaker 3: or two employees who there's on wages, So there's potentially
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  Speaker 3: one hundred thousand people maybe keen or twenty percent of
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  Speaker 3: those might take this option up.
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  Speaker 2: Okay, So having said that they're in accommodation on the farm,
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  Speaker 2: that's not theirs that comes as part of the job.
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  Speaker 2: You haven't been able to access your key you savor
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  Speaker 2: to buy your own house. That seems weird, doesn't it.
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  Speaker 2: I mean, there are individual circumstances and everything in life,
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  Speaker 2: and this is a very good example of one of those.
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  Speaker 3: Yes. And the big key is that these people want
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  Speaker 3: to Some of them will want to own a farm
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  Speaker 3: one day, and there's quite a big gap in that
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  Speaker 3: and ke we savor is a small portion, very small.
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  Speaker 3: But for the rural communities, for your teachers and nurses,
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  Speaker 3: your police officers, this could be quite a stepping stone
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  Speaker 3: for them to get into their own home while they're
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  Speaker 3: still living in the service tendancy provided by the government.
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  Speaker 2: I'm glad you raised that because I couldn't work out
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  Speaker 2: for that. So if you're a young farmer, forget that,
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  Speaker 2: I get the teachers, etc. If you're a farmer, are
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  Speaker 2: you into the key for a house or a farm?
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  Speaker 2: Do you think?
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  Speaker 3: I think my majority of them will be into it
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  Speaker 3: for a house, because to buy a farming a hank
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  Speaker 3: of a lot more than anyone's kV saver will ever.
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  Speaker 2: Provide, which was my next week. Yeah, but that was
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  Speaker 2: my next question. Given that, then most of these people
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  Speaker 2: in kV saber anyway or are they looking to try
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  Speaker 2: and say full land in the future of some other way.
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  Speaker 3: Oh, they'll be looking to build their equity to get
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  Speaker 3: into a farm in some way they or form. I
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  Speaker 3: think the other big, big change that is coming is
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  Speaker 3: the fact that in the past, if most farming entities
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  Speaker 3: are businesses or trusts, unless you personally were buying the farm,
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  Speaker 3: you could not use your kV saver. So if your
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  Speaker 3: company was buying the farm, which is what happens a lot,
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  Speaker 3: of course, you couldn't use kVA.
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  Speaker 2: That's stupid as well.
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  Speaker 3: And that's a big rule that's changing as well.
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  Speaker 2: Good. I'm glad while I got you this. I assume
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  Speaker 2: you're reading this morning like I am. This protein boom,
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  Speaker 2: So all your dairy auctions so far this year have
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  Speaker 2: gone through the roof? Is there a protein boom globally?
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  Speaker 2: And therefore the seasonality we see where you have a
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  Speaker 2: great season then a not so great season that could
• 3:22
  Speaker 2: be coming to an end. In other words, the world
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  Speaker 2: wants what we've gotten. We're laughing.
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  Speaker 3: I think it was for coming quite a few years.
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  Speaker 3: We've had a protein shortened luming in the red meat sector,
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  Speaker 3: and obviously that'll flow through into the milk sector as well.
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  Speaker 3: The milk sector can react really quick. We can increase
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  Speaker 3: production worldwide. They can do that over six months. The
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  Speaker 3: meat sector cannot recover that quickly. So the price is
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  Speaker 3: my presumpt presumption will be that they'll start for a
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  Speaker 3: little bit longer, and that red meat sector and the
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  Speaker 3: milk sector it could drop back quickly. A lot we
• 4:00
  Speaker 3: thought was going to happen this year.
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  Speaker 2: What do you reckon Wednesday? We've got another good one
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  Speaker 2: coming Wednesday.
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  Speaker 3: Oh even if we have one that just flat is
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  Speaker 3: still at.
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  Speaker 2: That's the truth. Nice to talk to you, mate, Go
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  Speaker 2: well Carldeen who is the Federator Farmer's Dairy Chair the
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  Speaker 2: reference to Wednesday being another dairy auction. Four from force.
• 4:16
  Speaker 2: I get a bit obsessed by these things. Four from four?
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  Speaker 2: You want five from five? Don't you? You never want
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  Speaker 2: it to end?
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