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Speaker 1: On the Huddle of Us. We have David Farrahkiria Polster

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Speaker 1: and QBI blog writer obviously, and then Jack Tame hosted

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Speaker 1: Q and AS and Saturday mornings on zb Hollo you too, Okay,

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Speaker 1: David thought on Wellington City Council doing this.

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Speaker 2: Oh, it's just ridiculous. I'm sorry. I've actually polled on

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Speaker 2: do people think sixteen and seventeen year old should vote?

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Speaker 2: And hugely unpopular, like around twenty percent. I think it's

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Speaker 2: a good idea that children should be voting. And the

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Speaker 2: reason this always comes from people on the left is

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Speaker 2: because what respect when you're sixteen seventeen. You're not paying

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Speaker 2: a mortgage, you're not paying rates, you're not even paying rent,

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Speaker 2: you're not really paying taxes. You might be earn here,

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Speaker 2: but you know tex at that rates there, So of

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Speaker 2: course you think everything the left proposers is a wonderful idea.

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Speaker 2: So when labor politicians say let's lower up to sixteen,

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Speaker 2: what they're actually saying is we want more votes, etcetera.

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Speaker 2: Eighteen is your age of adulthood. And I've never been convinced,

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Speaker 2: you know, if you're saying sixteen year olds are bright

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Speaker 2: enough to vote? Also a fifteen year old, so a

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Speaker 2: fourteen year old, so it really comes down to what

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Speaker 2: should it be and eighteen I think it's free standard.

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Speaker 1: I mean jack that, I mean, I take the point

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Speaker 1: that sometimes you have to do things that are symbolic.

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Speaker 1: But this thing has been killed by this government. It

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Speaker 1: is such a redundant thing to do.

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Speaker 3: Yeah, I don't think it's going anywhere. I think being

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Speaker 3: kind of acknowledged that in fact, I mean, this is

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Speaker 3: just a they're just voting on a motion to put

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Speaker 3: this to lg NZ, right, So it's not like they're

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Speaker 3: actually you know, this is going to be passed and

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Speaker 3: any times then the actually going to we're actually going

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Speaker 3: to see this. I mean, I think at the same time,

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Speaker 3: you know, it would be unreasonable for us to assert

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Speaker 3: that they can't, you know, to use your line walk

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Speaker 3: into a garment. At the same time, to a certain extent,

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Speaker 3: if they had spent a day debating this and vast

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Speaker 3: council resources, I think would have a much greater reason

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Speaker 3: to be upset. But to go back to a line

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Speaker 3: that that being used in that interview, you know, it's

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Speaker 3: in just thing he's said that you know, there shouldn't

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Speaker 3: be taxation without representation, And I think I think that

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Speaker 3: you know there is some veenis in that argument, But

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Speaker 3: can either of you correct me? Here? Am I right

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Speaker 3: in thinking that that sixteen year olds, because they can't

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Speaker 3: own property, won't be paying rates? Thus the taxation without

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Speaker 3: representation argument doesn't necessarily apply to very good.

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Speaker 1: Our sixteen year old is not allowed to own property.

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Speaker 2: Jack, I just I think that's right.

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Speaker 3: I could be wrong, So I'm going on flying by

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Speaker 3: the seat of my pants.

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Speaker 1: Now, well, do you have to be David? I didn't

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Speaker 1: know this.

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Speaker 2: I think it's eighteen, don't Yeah, I think legally, let's

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Speaker 2: let's double check that before we commit to that life.

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Speaker 1: That's fascinating.

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Speaker 3: Okay, listen, David, it was worth checking that.

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Speaker 1: Yeah, financial financial literacy in schools, David, I take it

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Speaker 1: that we don't teach may I may actually have been

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Speaker 1: convinced by Erica Stanford. I don't want to, like, I

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Speaker 1: don't want to overload our teachers, but and I feel

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Speaker 1: like this is something that parents should be teaching the kids.

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Speaker 1: But obviously there are a bunch of things up here

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Speaker 1: don't teach their kids, so we have to. So therefore

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Speaker 1: it's in schools. Do you agree.

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Speaker 2: Yeah, look, I think this definitely falls into that care. Agree.

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Speaker 2: I could even say there's probably some parents who could

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Speaker 2: do with going to that financial literacy course. But it's

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Speaker 2: just so important what the days have gone of the

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Speaker 2: nineteen fifties and sixties where you can just leave school,

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Speaker 2: work hard for ten years and buy the house and

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Speaker 2: live there for forty years and keep the same job. Today,

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Speaker 2: if you want to own a house one day, you

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Speaker 2: need to be saving from when you're at school. Actually,

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Speaker 2: you need a savings culture early on. So I think

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Speaker 2: financial literacy as part of that savings culture is a

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Speaker 2: very good idea. But yeah, yeah, make sure it's not

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Speaker 2: being taught at the expense of English and mathematics. Yeah.

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Speaker 1: Well, I don't think it is, Jack, because it's in

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Speaker 1: the social studies category right where largely what they do

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Speaker 1: there is they just color and maps, don't they.

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Speaker 2: I think it's no.

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Speaker 1: I mean, do you have a better social studies experience,

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Speaker 1: not just.

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Speaker 3: Because we were Yeah, I think so, Yeah, I think we.

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Speaker 3: I think we let a lot of things about the world.

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Speaker 3: But I think, I mean this is kind of like

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Speaker 3: a like low level applied maths or applied economics in

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Speaker 3: a way.

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Speaker 2: Isn't it.

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Speaker 3: And one thing that I reckon, like, I support it,

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Speaker 3: I don't have a problem with it, And I think,

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Speaker 3: you know, if we're all slightly more financially literally, there

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Speaker 3: would be a great thing. But one thing I would

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Speaker 3: say is that I reckon younger people today are actually

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Speaker 3: a little more financially literate than maybe the generations before them,

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Speaker 3: because of lots of online tools and you know, even

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Speaker 3: the barriers to kind of owning shares and training and

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Speaker 3: being engaged with public exchanges like you think about shares,

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Speaker 3: is that that has totally changed the game for.

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Speaker 2: A lot of young people.

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Speaker 3: And even when people go into their you know, get

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Speaker 3: into their first jobs and are enrolled in key we

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Speaker 3: say to them, for example, they're able to see the

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Speaker 3: impact of compound interest and the impact of you know,

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Speaker 3: changing you know, share prices and stuff a whole lot

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Speaker 3: more than they might have been able to in the past.

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Speaker 3: So I reckon that, Yeah, younger people today are maybe

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Speaker 3: actually slightly more financially literate than we give them.

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Speaker 2: Yeah.

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Speaker 1: Maybe so, Hey, Laura the German has had a look

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Speaker 1: at it. It is eighteen and it is because you

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Speaker 1: have to be legally party to a contract.

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Speaker 3: For land as well as as well as for like that,

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Speaker 3: just just to be just a triple check. I would

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Speaker 3: never go against Laura the German because Laura.

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Speaker 1: Jack wants you to look at it it's land as well.

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Speaker 1: Can you please do that for Jack? Yeah, she's she's German.

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Speaker 1: All right, we'll take a break, come back shortly back

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Speaker 1: with the huddle. Jack. Laura looked it up and you

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Speaker 1: can own land at any age, but your age will

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Speaker 1: be noted on the title.

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Speaker 2: There you go.

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Speaker 1: You did you already know this? Did you already know this?

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Speaker 1: And then set this whole thing up so that you

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Speaker 1: could look like you're really smart on air.

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Speaker 3: I think I'm accidentally structured why I thought was a

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Speaker 3: good argument against young people voting in local body elections,

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Speaker 3: and then I fact checked my own argument and found

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Speaker 3: it actually, I'm not entirely correct, and then I fact

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Speaker 3: checked the fact checking. But look the number of the

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Speaker 3: number of under eighteen year olds who own land and

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Speaker 3: thus pay.

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Speaker 2: Rates on New Zealand.

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Speaker 3: I would have thought it was infinitesimal to at least.

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Speaker 1: Yeah, totally. Now, David, do you think Nikola has done

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Speaker 1: a brilliant job curtailing her new spending or should she

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Speaker 1: have gone further.

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Speaker 2: Probably done as much as you can, because here's the reality.

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Speaker 2: When you talk about that operational allowance, most of us

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Speaker 2: is needed for non discretion you stuff, just that increased

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Speaker 2: population and aging and health. So when they actually say

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Speaker 2: we've only got like one point one billion instead of

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Speaker 2: three billion dollars, effectively everyone else is taking a hair cut.

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Speaker 2: So yeah, I think it's probably. I mean, don't get

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Speaker 2: me wrong, there's definitely more you could can't. But then

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Speaker 2: you're getting into not just efficiency saving, but we're going

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Speaker 2: to disestablish programs. You might be saying, Okay, we can't

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Speaker 2: afford fine you or anymore.

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Speaker 1: No, no, what about we can't afford the women's ministry

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Speaker 1: and we cut that load of nonsense.

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Speaker 2: Music of my years. There are around ten ministries that

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Speaker 2: could happily be moved.

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Speaker 1: We go on, David, name them. Okay, the Women's Ministry

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Speaker 1: needs to go. What else?

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Speaker 2: Well, here's the thing. All those demographic ones, woman, Pacific,

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Speaker 2: MARII affairs, they all get ignored by the government. If

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Speaker 2: you moved them all together into a high powered ministry

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Speaker 2: of social equity, they actually would probably be have more

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Speaker 2: impact with government than all these small micro ministries a.

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Speaker 1: Lot of them. Okay, that's four, give me another you know,

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Speaker 1: owe me another six. You said there were ten.

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Speaker 2: Well, well, if you really want me to get going,

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Speaker 2: I actually would mooge the entire public service into twelve

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Speaker 2: mega ministries. You have one in the law and order space,

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Speaker 2: one in the economic space, one in the health, one

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Speaker 2: in the education Like we've got four education agencies? Did

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Speaker 2: qa pec that? And you have one chief exector for

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Speaker 2: the sector, one minister for the seat. So you reduced

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Speaker 2: can kind of like what was done with mb Yes,

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Speaker 2: but more successfully.

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Speaker 1: Yes. Are you liking the sound of this, Jack, Because

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Speaker 1: David and I what obviously can see that there is

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Speaker 1: room for Nicola to go even harder.

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Speaker 3: Do you know, in principle, I have absolutely no problem

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Speaker 3: with that, with the concept of breaking up those, you know,

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Speaker 3: instead of having those kind of disparate demographic ministries, considering

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Speaker 3: in principle the idea of merging them, I think there

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Speaker 3: potentially are big efficiencies to be made.

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Speaker 2: I mean, where the raw not.

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Speaker 3: Now is the time for that kind of reform of

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Speaker 3: the public sector might be up for up for debate,

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Speaker 3: But yeah, I mean I think I think David's core

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Speaker 3: point is right in.

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Speaker 1: That now is now the time, Jack, because we are

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Speaker 1: in a financial we are running structural deficits that are

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Speaker 1: so bad apparently we're at the bottom of the oecd

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Speaker 1: for it. We need to save huge amounts of money.

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Speaker 3: Yeah, yeah, we do. And and you know, when you

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Speaker 3: look at that operating allows I feel like we're not

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Speaker 3: going to have a full kind of measure of Williss's

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Speaker 3: or the impact of Nicola Willis's actions until we can

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Speaker 3: see how her kind of redirecting and reprioritization of money

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Speaker 3: across different ministries and causes, like what the true effect

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Speaker 3: of that is. Because when we're talking about our operating allowance,

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Speaker 3: we're efectively talk about new money, right, and we need

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Speaker 3: to think about not just the new money, but also

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Speaker 3: the money that's going to be kind of being shifted around.

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Speaker 3: But yeah, I mean, yeah, yeah, maybe, although whether or

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Speaker 3: not that would be in the short term interests of growth,

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Speaker 3: which is of course what this government has kind of

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Speaker 3: been their political fortunes on for the time being, Whether

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Speaker 3: or not in the short term that would be in

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Speaker 3: the interests of growth and massive reforms to the public sector,

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Speaker 3: you know, potentially thousands of thousands of more public servants

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Speaker 3: facing redundancy, that kind of thing. It might not be,

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Speaker 3: but then again, maybe we would look back at it

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Speaker 3: in ten years time and go, Actually, those were the

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Speaker 3: reforms that have allowed New Zealand to climb out of

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Speaker 3: a structural deficit that was, you know, basically not moving

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Speaker 3: for the time being.

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Speaker 2: You know, the path the.

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Speaker 3: Surface of the time being looks scarcely believable. I think,

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Speaker 3: you know in anyone's for you regardless.

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Speaker 1: Of the totally agree. Hey guys, thank you so much,

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Speaker 1: really appreciate both your time. That David Farrah and Jack Tamer.

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