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Speaker 1: The Huddle with New Zealand Southerby's International Realty.

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Speaker 2: Find your one of a cave.

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Speaker 1: With you this evening Joe Spagani, the CEO of Child Fund,

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Speaker 1: and Trishurston Sharston Willis p Are High you too, Hello, Right,

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Speaker 1: let's deal with the CGT. Now, I would say, Josie,

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Speaker 1: it's a vote repellent. What do you think?

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Speaker 2: Well, if you go out and say do you want

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Speaker 2: a capital gains tax? Of course everyone's going to go no.

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Speaker 2: I mean, no one likes paying tax. Right. But if

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Speaker 2: you go out and ask people, do you want to

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Speaker 2: pay more tax on your income to pay for the

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Speaker 2: services and the massive deficit that the government's got and

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Speaker 2: the massive debt and the fact that we're all getting

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Speaker 2: older and so on and so on and so on. Right,

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Speaker 2: In other words, if you if you frame the question differently,

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Speaker 2: which is a more realistic framing, I don't want to

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Speaker 2: pay more income tax. Do you want people who are

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Speaker 2: making income from capital gains on property that a tax,

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Speaker 2: not tax at all at the moment, and it's still income.

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Speaker 2: Do you want that income to be treated the same

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Speaker 2: as your wages? Then the answer will probably be yes.

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Speaker 2: So I do think if you if you're going to

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Speaker 2: say you don't want a capital gains tax. The point

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Speaker 2: about tax is that someone has to pay more tax

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Speaker 2: if you're not going to tax property. That's been the

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Speaker 2: truth for a long long time. And so that's the

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Speaker 2: real question, Heather, not do you want a capital gains tax,

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Speaker 2: but you know, do you want the services that tax

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Speaker 2: pay for? And if we're going to need more money,

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Speaker 2: do you want to pay or do you want others

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Speaker 2: to pay?

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Speaker 1: Okay, so I'm going to reframe it, Trish, Would you

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Speaker 1: like to pay a capital gains tax so that we

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Speaker 1: can pay for really rich people to go to the

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Speaker 1: doctor three times a year for free?

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Speaker 3: Well, no, I absolutely don't. I don't think a case

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Speaker 3: has been made today for a capital gains tax. And

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Speaker 3: this isn't the kind of capital gains tax that has

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Speaker 3: been talked about in the past, which is a way

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Speaker 3: of sort of rebalancing the tax system. I think there's

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Speaker 3: a couple of things that stuck out to me. One,

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Speaker 3: if you take last week's sort of future fund announcement

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Speaker 3: from Labor that wasn't very well handled. If you take

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Speaker 3: the fact that this policy was then leaked and it

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Speaker 3: had to be rushed out today, and then you look

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Speaker 3: at the policy itself. It's way too complicated, it's confused again,

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Speaker 3: it's trying to do too many things. I think the

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Speaker 3: question is heating up around whether or not Chris Hipkins

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Speaker 3: will retain the leadership heading into the next election. Really,

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Speaker 3: I absolutely do. I think that these first policy outings

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Speaker 3: have been bad for Labor. I don't think they'll get

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Speaker 3: them a boost in the post in the polls, and

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Speaker 3: I think it probably will raise questions in the party

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Speaker 3: about whether they should have done the work, not only

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Speaker 3: the policy work sooner, but the work around whether or

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Speaker 3: not Chris Hipkins is their best is their best bet.

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Speaker 3: But I also think again, you know, this is back

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Speaker 3: to the Labor Party that people got so frustrated with

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Speaker 3: over six years because it's all about government meddling. So

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Speaker 3: you've got this very narrow CGT and then you're saying

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Speaker 3: we're going to ring fence it, and then it goes

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Speaker 3: over to here to some medic card and then there's

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Speaker 3: free GP visits. Well, you know Auckland is remember the

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Speaker 3: Auckland Regional fuel Tax which was supposed to be ring

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Speaker 3: fenced for Auckland regional infrastructure, and we are not one

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Speaker 3: meter of road. Further on, having paid that and now

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Speaker 3: thankfully springs scrap.

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Speaker 1: And hang on, Josey, everything you're about to say, I

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Speaker 1: on to hear after the breakdown.

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Speaker 2: The huddle with New Zealand Southeby's International Realty the global

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Speaker 2: leader and luxury real Estate.

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Speaker 1: Well away from six go Josie.

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Speaker 2: Well, one thing I was going to say is I

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Speaker 2: wish they've made it for free GP visits, because saying

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Speaker 2: three free GP visits is really really hard. But that's

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Speaker 2: that's by the bye. Look, whatever you think of Tippy

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Speaker 2: as the Labor leader, whatever you think of the Labor Party,

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Speaker 2: this is not some kind of you know, socialist extreme

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Speaker 2: tax system. I mean, this is that this is a

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Speaker 2: more conservative version of capital gains tax than just about

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Speaker 2: every other country has. And I still think if you

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Speaker 2: if you're going to say no to something as targeted

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Speaker 2: and small as this, you have to say, how are

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Speaker 2: you going to answer Treasury who said that in order

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Speaker 2: to pay our bills, our debt are deficit and the

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Speaker 2: costs of the fact we're all getting older, we're going

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Speaker 2: to need retirement. You know, they're suggesting that the options

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Speaker 2: are we increase the retirement age to seventy two, or

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Speaker 2: we increase GST to thirty two double its, or you

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Speaker 2: cut spending. But I don't think there's a I think

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Speaker 2: you can cut some spending, weathers efficiencies to make but

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Speaker 2: there's not a lot of fat there, Heather, I mean,

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Speaker 2: even you know everybody, I think, Joe, it's.

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Speaker 1: Not we are currently paying for third year university students

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Speaker 1: to go to university for free because it was a

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Speaker 1: policy one time. It doesn't even make any sense. There's

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Speaker 1: heaps like that.

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Speaker 2: But there's not heaps of it. I don't think there's

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Speaker 2: heaps of it. I think in the national part of

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Speaker 2: national government, the Coalition government have done a job trying

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Speaker 2: to cut as much as they can. So I don't

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Speaker 2: think if you asked Nikola Willis today what else can

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Speaker 2: you cut, she would say, we're pretty we've pretty much

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Speaker 2: cut all the fat we can. So you've still got

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Speaker 2: to answer. Do you increase the retirement ATD to a

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Speaker 2: ridiculous seventy two or GST double it to thirty two percent?

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Speaker 2: Or do you tax all income the same and give

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Speaker 2: a break to wage journals and tax those who make

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Speaker 2: money out of property and don't pay tax on the

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Speaker 2: capital is you have to make a choice.

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Speaker 1: So is there anything you want to say before we

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Speaker 1: move on to something else.

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Speaker 3: I feel like I'm happy to move on, nor I

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Speaker 3: think that I do. I do think that argument is

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Speaker 3: flawed though, because again look at the quantum that this

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Speaker 3: will raise, and in the scheme of things, it's not

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Speaker 3: enough to be transformational or address any of those big

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Speaker 3: structures challenges. Again, it's kind of it's a peanuts under

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Speaker 3: the cup kind of an exercise, I do think.

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Speaker 1: So, all right, what do you think, Trisha? I just

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Speaker 1: want to quick take from ech you what do you

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Speaker 1: think is going on with Sapati MARII? How does this

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Speaker 1: thing end? And is that nutritia?

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Speaker 3: Yes, I mean, who knows where this is going to end?

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Speaker 3: But I think it is just getting more and more

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Speaker 3: into an absolute maya of mismanagement. It's not even two

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Speaker 3: weeks ago that party Mariori leadership fronted up in Parliament

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Speaker 3: and said, hey, we're having a reset. We've heard everyone

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Speaker 3: and we're getting on with it. And I was just thinking,

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Speaker 3: actually it was only last year that we had the

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Speaker 3: last MP suspended by a party which was Darling Tana

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Speaker 3: under the Greens. But you know, even even then the

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Speaker 3: Greens ran a process around that that was public, it

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Speaker 3: was documented, you knew what the stages of it were,

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Speaker 3: even though timings ran over. But here you know, the

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Speaker 3: leadership of Party Maori is absent. They have not set

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Speaker 3: out a process or a timeline. And also bearing in

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Speaker 3: mind the fact that this is an electric MP that

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Speaker 3: they're dealing with. So again it's different from Darling Tana,

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Speaker 3: who is a listing p. So I think it's just

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Speaker 3: an absolute mess for to Party Maori and it's a

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Speaker 3: real shame actually for all of their constituents that that

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Speaker 3: the party seems to be falling apart at the seams

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Speaker 3: in this way.

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Speaker 1: Okay, Josie, I'm coming back to you with somebody's text.

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Speaker 1: What about we scrap acc Not every country has an acc.

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Speaker 2: Why would we do that? You want to go back

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Speaker 2: to period where we've got people who met every time. Yeah,

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Speaker 2: like every time you arrive in a city in the US,

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Speaker 2: the massive billboard saying lawyer available you had an accident

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Speaker 2: at work? Great?

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Speaker 1: Just well you asked for an idea. I would rather

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Speaker 1: I'd rather scrape acc than have a CGT. Anyway, listen,

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Speaker 1: guys will leave it, thank you, So much Joseph Gannatricious

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Speaker 1: Now Hudle this evening for more from Hither Duplessy Allen Drive.

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