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Speaker 1: As we squabble over toast for new mums in hospitals

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Speaker 1: and funding for street dance performers in Auckland. As we

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Speaker 1: pinch our pennies, pinch our pennies, as we pinch our pennies,

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Speaker 1: we are penny pinching a lot lately, aren't we. We're

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Speaker 1: bickering about all sorts of things. You know, should nurses

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Speaker 1: be getting the free toast in the smokeoe room if

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Speaker 1: they're doing a night shift. The insignificance of all of

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Speaker 1: these debates is being laid bare this morning. There's an

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Speaker 1: article in the Heel which is quite good. It's a

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Speaker 1: bit of a truth bomb from the Treasury boss. So

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Speaker 1: this is what she has said. She's leaving the job.

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Speaker 1: By the way, the data is not really new, but

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Speaker 1: the way that she is speaking so openly and frankly

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Speaker 1: is quite new. Her name's Carolle Mcles. You probably don't

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Speaker 1: know her name. She doesn't do many interviews. She doesn't

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Speaker 1: want to be in the press. She's Australian, she's apolitical.

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Speaker 1: She's five year term coming to an end. She's actually

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Speaker 1: going back to Australia to be the Attorney general over there.

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Speaker 1: Forgive me the order to general over there. So what

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Speaker 1: if she said, Well, she said, the chickens are coming

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Speaker 1: home to roost after COVID. We have a structural deficit

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Speaker 1: and it is so bad that the penny pinching or

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Speaker 1: the pinching pennies, whatever you want to call it, is

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Speaker 1: just not going to cut it. Here's a quote from

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Speaker 1: her significance concerns about underlying fiscal sustainability of our operating model. Now,

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Speaker 1: our netcore crown debt is at forty three percent of GDP. Yes,

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Speaker 1: that is still within a prudent level, but it is

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Speaker 1: well up on the sub twenty percent of pre COVID.

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Speaker 1: This is the problem, and so what do we need?

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Speaker 1: She says, capital gains tax more comprehensive than the one

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Speaker 1: we've got, and a change to the pension age. Boy,

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Speaker 1: did we screw the pooch during COVID, right, And everyone said, oh,

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Speaker 1: don't worry, we're going to spend all this money so

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Speaker 1: we don't have a recession. But we've still had recessions,

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Speaker 1: so it doesn't really matter how much penny pinching though,

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Speaker 1: we still need the penny pinching. For more from News

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Speaker 1: Talk set B listen live on air or online and

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