Chalmers did this in Australia.
There was apparently a meeting in April between Willis and Chalmers to talk about us joining his fund.
We're talking about minnows with revenue between one and ten million.
Unless the gas transition guarantor was the start of some kind of paradigm shift in the way this government thinks about private enterprise, then investment decisions in the private sector would be left to, well, the private sector.
Capital funds and even KiwiSaver.
We have about 5% of KiwiSaver funds invested in private equities. The Aussies are apparently more like 15 to 20%.
Fund managers have been making noises about changes needed to help encourage such investments.
So why don't we? If needs be.
The other unusual one this week was the Golden Visa. Apparently, there aren't enough investment opportunities out there to soak up the billions these guys want to pump in to score bunker in Queenstown with mountain views.
So now you can donate to charity or even help fund a DOC walking trail upgrade.
Erica Stanford told me yesterday they're looking at broadening out the types of investments that qualify.
We ether have too many investment opportunities and not enough capital, or not enough capital and too many opportunities.
Or we have regulatory settings that are stopping one from feeding the other, in which case, government ought cut through them before picking its own winners.
Ryan Bridge is a New Zealand broadcaster who has worked on many current affairs television and radio shows. He currently hosts Newstalk ZB's Early Edition - where this article was sourced.
4 comments:
Willis wants people investing in houses, not growth industry. The tax settings she put in place reflect that. The right wing government isn’t interested in small and medium businesses, they prefer property.
Never before in NZ's history have I witnessed such a deliberate deception of Kiwis by our elected government. Even Ryan is being suckered. None of the institutions that need to be in place to make such a fund work are in place in this country. NZ does not have mandatory savings accounts like Singapore nor Australia and even last night they were categorically ruled out by to me by our government's most senior minister. Why give Kiwis false impressions that the country is moving toward setting up such a fund and is sorting out our fiscal crisis when it is not? Why is Luxon taking this nation's politics into dark places it has never been before?
You know when the "duly elected government" has gained cloth ears, then a hearing problem, followed by vision disturbances.
The current Min. of Finance - is no better than Ruth Richardson.
Most of NZ major business systems are owned by "offshore" entities.
Their greatest focus is how to 'leverage money' out of what they own. They learnt these lessons from US Business enterprises.
I offer two such such business based in NZ -
1. - Sanitarium Health Foods - owned & operated by the Mormon Church
2.- Kraft Heinz who till recently 'raped' NZ food agriculture for product to sell overseas, now it is more 'lucrative' to have it grown & canned in China.
You can also add the Carter Holt -Harvey closures and of recent days the Japanese owned mill in Northland.
These business pays tax & GST, the staff pay tax and revenue to Councils - who pay their staff.
When these business enterprises fail, so does the Govt coffers - so were are the Coalition of the 'unwilling' in their attempts to retain such "cash cows"??
Oh it is election year, how silly of me, thus I join the multitudes in watching (& listening) to the 'virtue signaling', of save my job (& pay) while we 'say what we wish to do, but really do not want to do'.
Reducing the number of Govt employees is not a great quest, but how about saving the jobs of the tax payer, who pay the Govt to function.
Oh and Ryan, for National you are 'the soft sponge' for talking to, more 'soak it up' and write opinion pieces - rather than National Ministers face Mike Hosking - who might (will) ask some hard questions - Erica Stanford will work with you but not Hosking.
Says a lot about such people.
Chalmers?
Look what he is doing to Oz.
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