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  1. #11791
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    Quote Originally Posted by Peitro View Post
    Interesting times, Retirement age to go up to 67 now
    05-12-2016, 01:02 PM

    Called it

  2. #11792
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    Quote Originally Posted by Peitro View Post
    05-12-2016, 01:02 PM

    Called it
    Yes, I'm impressed Pietro. http://www.sharetrader.co.nz/showthr...l=1#post647053

    Although you didn't say it would be 20 years away. Typical of National, all their so-called policies are in the direction of commonsense, but are so watered down they're useless. Note that National can now say they're doing something about the super scheme. Doesn't amount to anything, but they are doing something. I have to note that Andrew Little doesn't want to make any changes, and that'll be because it's 2017, an election year. Labour is not in a position to make any statements like that until they have a term under their belt. No denying it, super is a huge cost for the state at the moment, and it's getting bigger. We could afford it at current settings if we tune up the GDP/economy and tax the top end a bit more.

    Bill hasn't said when he'll be able to stop paying more interest on the new loans, than the budget surplus total. He's not even thinking of adding to the super funds for a few years. Bill was rather taciturn on TV1 this morning. Had the interviewers sniggering a bit.

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    If Andrew Little "doesn't want to make statement like that until they have a term under their belt" then we might have to wait until 2070 or later. National are planning the future - Labour are living in the past.

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    Quote Originally Posted by elZorro View Post
    Yes, I'm impressed Pietro. http://www.sharetrader.co.nz/showthr...l=1#post647053

    . . . No denying it, super is a huge cost for the state at the moment, and it's getting bigger. We could afford it at current settings if we tune up the GDP/economy and tax the top end a bit more. . .

    .
    I'm sure we could afford almost everything on everybody's wish list if we "tune up the economy".

    That's almost exactly how Sir Robert Muldoon sold it in 1975!

    What goes around, comes around. Even when it should stay in Vegas! 🙈👻🤠🤡

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    Quote Originally Posted by GTM 3442 View Post
    I'm sure we could afford almost everything on everybody's wish list if we "tune up the economy".

    That's almost exactly how Sir Robert Muldoon sold it in 1975!

    What goes around, comes around. Even when it should stay in Vegas! 鸞嵐
    But Labour did grow the economy, from 1999 to 2008. The number of SMEs went up, tax take went up, unemployment well down, they posted good surpluses. There was some immigration, but nothing like this govt has gone with.

    http://www.nzherald.co.nz/nz/news/ar...ectid=11812724
    Last edited by elZorro; 06-03-2017 at 10:15 PM.

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    Quote Originally Posted by elZorro View Post
    But Labour did grow the economy, from 1999 to 2008. The number of SMEs went up, tax take went up, unemployment well down, they posted good surpluses. There was some immigration, but nothing like this govt has gone with.

    http://www.nzherald.co.nz/nz/news/ar...ectid=11812724
    I just thought that it was funny that you sounded so like Sir Robert.

    Maybe we could substitute "think green" for "think big" and have the 1980s all over again.🤑😎😜🤓

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    Quote Originally Posted by GTM 3442 View Post
    I just thought that it was funny that you sounded so like Sir Robert.

    Maybe we could substitute "think green" for "think big" and have the 1980s all over again.螺邏
    I think you're talking about the 1970s for Think Big, and for many regions, that policy was a real boon. Businesses sprang up out of nowhere to help manufacture parts for projects. Most of the infrastructure is still in use, even the converted gas to gasoline plant at Motonui. We'd have been in really big trouble if a power station the size of Huntly hadn't been built back then. It's less important now, but that could change if we see a new raft of energy intensive manufacturing.

    To me, the late 1980s were a time of experimentation, where the neoliberals used Labour as a vehicle to try out the power of the private sector on government. This was not a half-hearted effort to perhaps reduce the size of some government departments. It was a very scary time for many in NZ. Only a few, like the Fay-Richwhites of the world, seemed to do really well out of that period.

    I thought the Clark Labour government did really well in moving on from that, in redressing some past wrongs and striking out with bold policies that are still with us today.

    NZ Super could be funded fully with govt contributions resuming to that investment pool. Of course this govt doesn't have much spare. They'd have been better to borrow and continue investing after the GFC. If we had a higher wage economy we'd also be paying more taxes. R&D is a good way to achieve that, it's not a fast fix but it's reliable, like Think Big has been.

    Colin James's Otago Daily Times column for 7 March 2017
    How to wrongfoot science in three easy lessons

    Bill English has been the cabinet's king advocate of data-mining. Last week he turned to anecdotes. That echoes his squeeze on science funding.

    As Finance Minister and chief public service and social services reformer up to December, English gave many speeches on the value to be extracted from data on people, especially children, to find where to get the highest return for taxpayers' money.

    This was a major driver of his development of "social investment", the setting up of the cross-agency social investment unit and the Ministry for Vulnerable Children and the introduction of the Treasury's daunting CBAx spreadsheet test of new funding requests.

    But at his post-cabinet press conference last week English chose anecdotes, not data, to justify his programme of torrential immigration. One reason he gave -- to be fair, he did say it was one, not the, reason -- was that employers in some sectors repeatedly tell him they cannot hire enough locals because locals keep failing drug tests.

    The actual fail rate on the job, official data say, is around 5%. For pre-work-tested beneficiaries, it is a fraction of that.

    English stuck to his anecdotes. And, again to be fair to him, one partial reason for the discrepancy between his anecdotes and the data may be that many don't take the tests because they know they will fail.

    But English can hardly be data-king one day and Winston Peters-style anecdote-baron the next.

    So to big-brain Nick Smith's data on "swimmable" waterways. Smith's changes to how to measure that risk gave the government a bout of political campylobacter. (Is Smith himself a risk factor?)

    It was an standout example of how not to do science communication. A group of disinterested scientific experts spent four days getting a complete understanding of how Smith's recalibration could work well.

    That will be included in a long-gestating, extensive, learned report on freshwater Chief Science Adviser Sir Peter Gluckman will issue in a month or two. Had Smith waited a bit -- but he too often doesn't wait a bit -- he could have leaned on this heavyweight work.

    Well-grounded evidence is the point of Sir Peter's appointment of science advisers to major departments. They assess evidence more rigorously than arts-educated policy analysts and managers.

    The advisers are now integral to budget bidding, which requires agencies to navigate the CBAx and point towards evidence-based eventual "outcomes". The advisers had another round of evidence testing last week, with very mixed results from agency to agency.

    So science is helping form the budget. But will the 2017 budget return the compliment?

    Successive governments' track records have been suboptimal, judging by the first official annual report of science performance in December.

    The 2016 budget trumpeted a $410.5 million rise in government funding of science and innovation from fiscal 2015-16 to $1603.3 million in 2019-20.

    Sounds a lot. But as a percentage of GDP the rise is to 0.52% from 2015-16's 0.51%, which has been the average from 2009-10.

    And 0.52% is far below comparable figures for all but cash-strapped Ireland among the other six small advanced economies Sir Peter has gathered into a group that meets on science and now on other matters.

    The performance report puts Israel at 0.63%, Switzerland 0.89%, Finland 0.98% and Denmark 1.00% and the OECD average 0.70%.

    Also, private sector investment, while growing in recent years to 0.60% of GDP in 2015, is last among small advanced economies and far below the OECD average.

    The good news: scientists here seem to do "more with less", which English pushed while Finance Minister.

    While second bottom among small advanced countries (again, to Ireland) in the number of research papers published, New Zealand is top in papers per million dollars and gets a better-than-world-average share into top journals. The papers are also disproportionately cited (though still behind most small advanced countries).

    The strongest citation performance per paper is in the physics and astronomy category, then dentistry, then engineering -- not cows. One plus: the funding system is less fragmented than it used to be.
    But fewer than 10% of applications are funded. One authoritative estimate is that 20%-25% are of high quality. If so, half the best ideas miss out.

    For example, the Endeavour Fund which invests in "smart ideas" and "promising, innovative, research" this fiscal year had only $37 million available for $200 million of applications for the second category. Winners eke out funds over two to three years.

    Unsurprisingly, despite a net inflow from offshore in recent years, New Zealand comes near or at the bottom of the small advanced countries in numbers of researchers per 1000 people in employment. That is not charting a path to a "high-wage" economy.

    Well, Steven Joyce was Science and Innovation Minister when the report was issued. As Finance Minister he has the option to reset the funding data. Anecdotes don't cut it.

    Colin James, (64)-21-438 434, PO Box 9494, Marion Square, Wellington 6141, New Zealand ColinJames@synapsis.co.nz, www.ColinJames.co.nz
    Last edited by elZorro; 07-03-2017 at 07:28 AM.

  8. #11798
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    Quote Originally Posted by craic View Post
    If Andrew Little "doesn't want to make statement like that until they have a term under their belt" then we might have to wait until 2070 or later. National are planning the future - Labour are living in the past.
    Labour tried planning for the future at the last election with raising the retirement age to 67 making Kiwisaver compulsory a capital gains tax etc all good policy in my opinion but I guess you can only plan as far ahead as the average voter because labour got slaughtered at the polling booth by trying to do the right thing. Sadly they will probably do better with weak vague statements on the issue of retirement funding.

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    Steven Joyce addressing economic forum Wellington May 2012

    Steven Economic Development Minister Steven Joyce has dismissed talk of reforming superannuation as ''a distraction'' saying the "government believes the scheme is sustainable for the foreseeable future"

    Nek Minit

    March 6th 2017

    Progressively lifting the age of entitlement to New Zealand Superannuation from 65 to 67 is the responsible and fair thing to do for New Zealand, Finance Minister Steven Joyce says

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    Quote Originally Posted by Sgt Pepper View Post
    Steven Joyce addressing economic forum Wellington May 2012

    Steven Economic Development Minister Steven Joyce has dismissed talk of reforming superannuation as ''a distraction'' saying the "government believes the scheme is sustainable for the foreseeable future"

    Nek Minit

    March 6th 2017

    Progressively lifting the age of entitlement to New Zealand Superannuation from 65 to 67 is the responsible and fair thing to do for New Zealand, Finance Minister Steven Joyce says
    So what? Labour went into the last election with a policy to increase the age for national superannuation to 67. Three years later this is apparently all wrong and according to Little Andrew all Labour members stand now firmly behind a retirement age of 65.

    Shows that this has for Labour nothing to do with what's right ... only to oppose whatever the government is proposing.

    Having said that ... I don't like Nationals approach either ... and agree with the Greens and ACT. This topic is too important to score short term political points - what we really would need is a working group with all major party's involved - fleshing something out which has a chance to stand the time.

    Super must be something people can plan for and rely on, not another political football which might be kicked every three years into a different corner.

    In my view
    - It makes a lot of sense to increase the retirement age;
    - NZ Super should not be means tested ... the people who paid the most taxes should as well get some benefit.
    - Immigrants should get a NZ super payment proportional to the time of their working life they lived (and paid taxes) in NZ (so say if they worked / lived during their working life for 20 years in NZ and for 20 years oversees, than give them half of the NZ Super but allow them to keep whatever entitlements they accrued during the rest of their life in different pension systems).
    Last edited by BlackPeter; 07-03-2017 at 09:19 AM.
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

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