Latest / Best of Business / Richard McIntyre: Federated Farmers' banking spokesperson on the petition urging the Government to change KiwiSaver rules for farmers

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Richard McIntyre: Federated Farmers' banking spokesperson on the petition urging the Government to change KiwiSaver rules for farmers · Best of Business

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  Speaker 1: You're listening to a podcast from News Talks'd be follow
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  Speaker 2: Should young farmers be allowed to use their keyw savers
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  Speaker 2: to buy the first farm, the first flock or the
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  Speaker 2: first herd. Fed Farmers has just launched a petition calling
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  Speaker 2: on the government to urgently change the key we saver
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  Speaker 2: rules to help farmers get their foot on the ladder.
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  Speaker 2: And Richard McIntyre is fed Farmer's Dairy Chair and with
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  Speaker 2: us now, hey, Richard, hey, it seems to be a
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  Speaker 2: no brainer at least to be able to buy the
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  Speaker 2: first farm.
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  Speaker 3: Right, Oh, look at it very much as to us, Heather,
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  Speaker 3: you know, to us this is very much about fairness
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  Speaker 3: for farm staff and then also enabling progression and then
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  Speaker 3: succession within the actective.
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  Speaker 2: What about the first herd? Though, Explain to me why
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  Speaker 2: you'd do that. I mean, because I can understand with
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  Speaker 2: the farm you're living on the farm in the same
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  Speaker 2: way that I'm living in my first house. But you're
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  Speaker 2: not living in your herd, are you.
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  Speaker 3: Well, Farming is very very capital intensive and to get
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  Speaker 3: your foot in the foot in the door, you need
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  Speaker 3: a lot of money. As a deposit in order to
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  Speaker 3: begin affectively moving your way up the ladder, such as
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  Speaker 3: you know, leasing a farm and buying a flock of
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  Speaker 3: sheep or herd owning share looking and so for example,
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  Speaker 3: you know, for us, we ever heard of four hundred
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  Speaker 3: and fifty cows. We needed over three hundred thousand dollars
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  Speaker 3: as a deposit in order to be able to buy
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  Speaker 3: that herd and progress within the sector. You know, Kiwi
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  Speaker 3: farmers aren't really struggling to put that money aside, and
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  Speaker 3: a lot of them are actually deciding not to put
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  Speaker 3: money into kiwisaver and basically scrimp and save because they
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  Speaker 3: know they need all the money that they can get
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  Speaker 3: to actually get there for the door and move up
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  Speaker 3: that ladder.
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  Speaker 2: Would that not be the same as me taking out
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  Speaker 2: my key we saveor to buy my first business.
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  Speaker 3: Well potentially, you know, and obviously they're going to need
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  Speaker 3: to be some good guidelines around that, you know. Where
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  Speaker 3: we would see it, it would be the idea that
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  Speaker 3: you could only use the money to invest in something
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  Speaker 3: that wouldn't appreciate effectively, So you wouldn't use it for
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  Speaker 3: vehicles or anything like that. You could use it for
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  Speaker 3: bricks and mortar or a herd or a flop which
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  Speaker 3: although they do get old and can die, and they
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  Speaker 3: also reproduce themsel as well.
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  Speaker 2: Okay, I mean I think probably on the herd of
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  Speaker 2: the flock you may have a bit of a there
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  Speaker 2: may be a bit of an argument about whether that's smart,
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  Speaker 2: but certainly the first farm seems no brainer. So why
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  Speaker 2: hasn't National done it? Then?
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  Speaker 3: Yeah, look, we're trying to understand it a little bit
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  Speaker 3: as well. I suspect there are a few a few
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  Speaker 3: things they need to work through in terms of how
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  Speaker 3: they would potentially make this fear for everyone else, you know,
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  Speaker 3: a little bit like you're referred to. But to us
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  Speaker 3: it seems like an absolute no brainer. Probably. The other
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  Speaker 3: big point to make here is at the moment, you know,
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  Speaker 3: when you if you live in an urban and sitting,
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  Speaker 3: you can easily buy your first heart or you know,
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  Speaker 3: put take money out of you keep. We say, to
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  Speaker 3: buy your first house because you live in it. When
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  Speaker 3: you're in a rule setting, your job typically comes with
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  Speaker 3: a service centers, so a house that you live in
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  Speaker 3: on the farm because you live remotely, and so all
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  Speaker 3: of these young farm staff are actually unable to get
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  Speaker 3: onto the property ladder at the same time as urban
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  Speaker 3: pairs and so there's a real fairness issue here that
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  Speaker 3: needs to be addressed.
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  Speaker 2: Now I know that there was Remind me who it
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  Speaker 2: is in the National Party who's got the members bill?
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  Speaker 3: SU's maybe the MP for it together?
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  Speaker 2: Okay, so like, let's not be I don't want to
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  Speaker 2: be unkind to her. But she's nobody right, She's right
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  Speaker 2: back there. This is not a big person putting their
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  Speaker 2: name to this, So I think this is just being
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  Speaker 2: parked the fact that they have got this, sus has
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  Speaker 2: put it into the biscuit t in about three weeks ago.
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  Speaker 2: You guys are now launching a petition. Is that you
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  Speaker 2: being frustrated that they're not actually getting on with this
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  Speaker 2: in a significant way.
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  Speaker 3: So well, first of all, we're divided with what Susan
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  Speaker 3: has done. She's been awesome in this respect, but we
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  Speaker 3: are really pushing the government to actually, you know, follow
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  Speaker 3: through on their promise that they made pre election, which
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  Speaker 3: is to allow young farmers to remove money from their
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  Speaker 3: QUI save it and a one off.
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  Speaker 2: What's going on though, Rochard? I mean, you guys are
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  Speaker 2: tapped in this is It Act or New Zealand First
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  Speaker 2: who is putting the kai bosh on this.
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  Speaker 3: Well, not entirely sure at this point, but in Certaly
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  Speaker 3: not progressing as fast as we think it should end.
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  Speaker 3: So this petition, which has had a huge amount of
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  Speaker 3: support so far and I'm sure we'll get heaps of
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  Speaker 3: support over field days, is going to help to add
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  Speaker 3: to the pressure on the government to actually get this
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  Speaker 3: over the one.
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  Speaker 2: Yeah, brilliant stuff, Hey, Richard, thanks for talking us through it.
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  Speaker 2: Richard McIntire, Federated Farmer's chairperson of dairy. Ye're not to
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  Speaker 2: be disrespectful to sus, but sus as their parking ward
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  Speaker 2: and a they've parked it, they've given it to sus.
• 4:17
  Speaker 2: They were like, park that for us, make it look
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  Speaker 2: like we're doing something and we're not actually doing anything anyway.
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  Speaker 2: Nicola Willis is with us, as you know. She's with
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  Speaker 2: us after six on a Monday, so we have a
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  Speaker 2: little chat to her and just find out what's going
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  Speaker 2: on here.
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