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Speaker 1: So it seems the Labour parties not learned a thing

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Speaker 1: about running a country. Their first policy for next year's

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Speaker 1: voters out, So congratulations on that's our first cab off

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Speaker 1: the rank is this wealth fund? The idea not necessarily

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Speaker 1: a bad one, of course. Are you take money from

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Speaker 1: dividends and distributed out about the place to create jobs?

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Speaker 1: The obvious questions, though, were not answered. How much does

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Speaker 1: it cost, don't know what industries or entities or businesses

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Speaker 1: are involved, don't know how many jobs will it create,

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Speaker 1: don't know who decides who gets what, don't know those

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Speaker 1: are the specific faults, and what really is just a

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Speaker 1: very broad brush sort of thought bubble. The more pressing

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Speaker 1: issue economically comes in the form of a simple truth.

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Speaker 1: And the simple truth is given, you haven't magicked up

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Speaker 1: the money. It has come from a business. Let's say

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Speaker 1: it's a power company. The company pays the government to dividend.

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Speaker 1: That already happens. Currently, that dividend goes into the consolidated

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Speaker 1: Fund i e. The government's coffers. That money pays bills. Currently,

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Speaker 1: one of the biggest bills is the interest on our debt.

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Speaker 1: That bill is getting close to ten billion dollars a year. Now,

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Speaker 1: if you aren't using the dividend money to pay bills

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Speaker 1: because you've ciphed it off to pay for your wealth fund,

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Speaker 1: where's the money for the bills going to come from?

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Speaker 1: At all points, you only ever have a finite amount

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Speaker 1: of money. If some of those dollars go one way,

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Speaker 1: they can't go another. And unless you can explain how

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Speaker 1: you cover that gap, you're merely prioritizing one thing over another.

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Speaker 1: It's like increasing the car payment, but by doing it

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Speaker 1: by paying less on the mortgage, which in this case

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Speaker 1: brings in Labour's attitude to debt. Given they're the ones

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Speaker 1: who dug our current debt hole, it looks like they

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Speaker 1: still haven't worked out it wasn't a very smart move.

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Speaker 1: If there's a standard chance next year, they will need

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Speaker 1: to sharpen their policy act up considerably to something a

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Speaker 1: lot better refined than some blue sky psychobabble. For more

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Speaker 1: from the Mic Asking Breakfast, listen live to news talks.

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Speaker 1: It'd be from six am weekdays, or follow the podcast

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Speaker 1: on iHeartRadio.