Latest / Best of Business / Kerre Woodham: Are these election promises worth it to you?

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Kerre Woodham: Are these election promises worth it to you? · Best of Business

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  Speaker 1: You're listening to a podcast from Newstalk ZB. Follow this
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  Speaker 2: The political parties have pressed go on their election campaigns
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  Speaker 2: and every morning from now until November 7, we'll have
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  Speaker 2: a full smorgasbord of party promises to pick over. Lucky,
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  Speaker 2: lucky us. Of course, most of them aren't worth the
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  Speaker 2: paper they're printed on. The minor parties have the luxury
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  Speaker 2: of promising you a pony and a castle. and fairy
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  Speaker 2: bread for the rest of your life. Then when it
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  Speaker 2: comes time to stump up after the election, I'll be all,
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  Speaker 2: oh soz, we really wanted to, but those mean gnats
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  Speaker 2: slash labourites wouldn't let us. Sorry. So everything you hear,
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  Speaker 2: take with a grain of salt. And everything the two
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  Speaker 2: main parties promise, ask yourself how they expect us to
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  Speaker 2: pay for it. Because they won't be paying for it.
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  Speaker 2: out of their party war chests, we will be. You
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  Speaker 2: and me. So ask yourself when the policies come out
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  Speaker 2: from National and Labour, think like a supermodel. One of
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  Speaker 2: the OG supermodels, Linda Evangelista, famously said, I don't get
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  Speaker 2: out of bed for less than $ 10, 000 a day. And
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  Speaker 2: that was back in the 80s. It'll be serious coin now.
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  Speaker 2: Ask yourself when you hear the policies promised by National
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  Speaker 2: and Labour. Is this worth me getting out of bed for,
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  Speaker 2: to do a full day's work and pay my taxes?
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  Speaker 2: Back to the breakfast buffet of election promises. New Zealand
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  Speaker 2: First says it will cut the tax rate for small
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  Speaker 2: businesses by almost a third, from 28 to 20%. The
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  Speaker 2: reduced rate would apply to companies with a turnover under
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  Speaker 2: $ 30 million, which sounds like small businesses are pretty big businesses.
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  Speaker 2: They say, New Zealand first, it will cost a billion dollars,
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  Speaker 2: but that will be more than returned with increased productivity,
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  Speaker 2: long-term investment, an increase in labour demand, employment and wages.
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  Speaker 2: But what would you do if your tax was cut
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  Speaker 2: by 8%? Where would you put that extra money? Because
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  Speaker 2: it comes back to the reason why you started your
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  Speaker 2: own business, became your own boss. Is it to be
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  Speaker 2: the next Bill Gates? There are a number of you
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  Speaker 2: that I've talked to over the years who could grow
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  Speaker 2: your businesses, but you don't want the hassle. You could
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  Speaker 2: take on more staff, but you don't want to. Once
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  Speaker 2: your business gets to a certain turnover, you want to
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  Speaker 2: kick back and enjoy life. Coach the kids' sport. Take
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  Speaker 2: time off during the holidays. It's the batch, the boat,
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  Speaker 2: the BMW mentality. You have enough for the life you
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  Speaker 2: want to live. You don't want to invest in new
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  Speaker 2: capital or more staff or do more hours or pack
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  Speaker 2: your bags and head overseas and hustle for the next contract.
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  Speaker 1: Why?
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  Speaker 2: You've achieved a level of comfort that you're happy with.
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  Speaker 2: You don't want to be a billionaire. So what does
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  Speaker 2: success look like to you? If you became your own boss,
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  Speaker 2: if you set up your own business, What was that for?
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  Speaker 2: To give you freedom? To give you independence? To make
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  Speaker 2: a fortune? If New Zealand First got this one over
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  Speaker 2: the line in a coalition agreement with National or Labour,
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  Speaker 2: what would you do with that extra 8%? Do like
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  Speaker 2: New Zealand First believes you will. reinvest it back in
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  Speaker 2: the business or would you use it to just live
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  Speaker 2: your best life get there faster and I'd love to
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  Speaker 2: know the motivation behind setting up your own business for
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  Speaker 2: the people who've phoned me over the years it's been
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  Speaker 2: about lifestyle about making your own choices making your own
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  Speaker 2: decisions it's not been about chasing the buck but I'd
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  Speaker 2: love to hear from
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