Labour govt 2020-23

[dobby41]

I did see a while back that My Food Bag was the third biggest retail food supplier. Add in Hello Fresh and a range of smaller retailers and that looks like food competition to me.

It isn't when suppliers are held to ransom and the 'competition' is too small to really make a difference.
Getting off the list with one or the other of the big 2 could kill your business.

[winner69]

https://www.rnz.co.nz/news/political...-a-better-deal

Now watch the government screw this up with the nerd head David ‘lockdown does not apply to me’ Clark in charge.

Clark says he was 'looking forward to reading through the 500-page report.'

Doubt whether his concentration could cope with that ... and we all know about his comprehension abilities

[Blue Skies]

Wellington is an expensive city for renting and buying. But that young couple could look at Wellington apartments or suburb do-up units as a first step for few years while building income and skills and paying down the mortgage. I was looking this week at a nice 2 bedroom apartment with garage very close to the CBD, BEO $495k. Company share plus body corp fees.

Probably not a forever home for a young couple but a start.

Or they could decide not to delay babies and stay renting.

I know, not an either / or choice but there are choices involved. And outcomes.

Apologies this off topic.

Have considered Wellington real estate too for investment, but a couple things I've recently learnt,

1) banks wont lend on 'company share' ownership which rules out 1st home buyers & anyone without cash or around 80% equity (limits resale value)

and 2) the risk around buildings close to CBD being built on land which doesn't meet insurance earthquake criteria (& understand this is not publicly defined) & risk WLG city council in future expand that area & criteria from present levels meaning what's insurable now may not be sometime in future.

[artemis]

Apologies this off topic.

Have considered Wellington real estate too for investment, but a couple things I've recently learnt,

1) banks wont lend on 'company share' ownership which rules out 1st home buyers & anyone without cash or around 80% equity (limits resale value)

and 2) the risk around buildings close to CBD being built on land which doesn't meet insurance earthquake criteria (& understand this is not publicly defined) & risk WLG city council in future expand that area & criteria from present levels meaning what's insurable now may not be sometime in future.

Am well aware of company share. Point was that there are reasonably priced options even in expensive Wellington.

[winner69]

This interesting

How the Government has fuelled rampant increases in wealth

https://democracyproject.nz/2021/07/...he-government/

[Bjauck]

This interesting

How the Government has fuelled rampant increases in wealth

https://democracyproject.nz/2021/07/...he-government/

So it sounds as though older pakeha have befited the most financially under this government - with lots of untaxed capital gains under the young vibrant multicultural team at Labour. Is it now the true blue Party for the landowners?

[Zaphod]

Landlords never do the right thing - they work on minimum requirements. I mean the gov't had to bring in the Healthy Homes Act because of that. They've turned rentals into a profit making game. It reminds me of the Three's Company TV show my parents use to watch in the 80s where Mr Furley (the landlord) would always say, "I'm providing a service to you! now pay up!"
.

Was the provision of rental accommodation by private individuals not supposed to be profitable? I'm not sure what you mean there.

Landlords do not all work on "minimum requirements" and neither to all tenants, but there are a proportion of each that do.

[SBQ]

This interesting

How the Government has fuelled rampant increases in wealth

https://democracyproject.nz/2021/07/...he-government/

As i've been saying before in the other thread "1st homeowners are screwed"; the article quotes:

"According to this article, Treasury believe the problem is even worse, saying that 42 per cent of “High Wealth Individuals” “pay less than 10 per cent of their total income in tax. That is lower than the lowest income tax rate which is 10.5 per cent, which income earners pay on income up to $14,000.” Reserve Bank data is also cited to show that “the top 10 per cent of New Zealanders owned 70 per cent of all wealth.”
Treasury has also carried out research to show that “A quarter of all household wealth in New Zealand is concentrated in the hands of the richest 1 per cent”

[Balance]

As i've been saying before in the other thread "1st homeowners are screwed"; the article quotes:

"According to this article, Treasury believe the problem is even worse, saying that 42 per cent of “High Wealth Individuals” “pay less than 10 per cent of their total income in tax. That is lower than the lowest income tax rate which is 10.5 per cent, which income earners pay on income up to $14,000.” Reserve Bank data is also cited to show that “the top 10 per cent of New Zealanders owned 70 per cent of all wealth.”
Treasury has also carried out research to show that “A quarter of all household wealth in New Zealand is concentrated in the hands of the richest 1 per cent”

Not that different in most OECD countries :

US - According to the latest Fed data, the top 1% of Americans have a combined net worth of $34.2 trillion (or 30.4% of all household wealth in the U.S.), while the bottom 50% of the population holds just $2.1 trillion combined (or 1.9% of all wealth).

UK - top 1% own 21% of all household wealth and top 10% own 53% of all household wealth.

Australia - top 1% own 23%, more than the bottom 70% combined.

[dobby41]

So it sounds as though older pakeha have befited the most financially under this government - with lots of untaxed capital gains under the young vibrant multicultural team at Labour. Is it now the true blue Party for the landowners?

This has always been the case irrespective of Govt flavour.
Those with capital do best and older pakeha has always had the capital.
Of course, the rapid growth in asset prices has been a phenomenon across the world - maybe Labour are to blame for them all?