Federated Farmers has launched a petition calling for KiwiSaver rules to be changed to help young farmers get their foot on the ladder.
The petition’s launch has been timed to coincide with Fieldays, where thousands of farmers, industry leaders and politicians will gather at Mystery Creek.
Federated Farmers' banking spokesperson Richard McIntyre says farming is very capital intensive and young farmers need a boost in the name of fairness.
"Kiwi farmers are really struggling to put that money aside and a lot of them are actually deciding not to put money into KiwiSaver and basically scrimp and save because they know they need all the money they can get to actually get their foot in the door."
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Speaker 1 (00:00):
Should young farmers be allowed to use their Keiwi savers
to buy the first farm, the first flock, or the
first herd. Fed Farmers has just launched a petition calling
on the government to urgently change the key we Savior
rules to help farmers get their foot on the ladder.
And Richard McIntyre is fed Farmer's Dairy chair and with
us now, hey, Richard, hey, it seems to be a
no brainer at least to be able to buy the
(00:20):
first farm, right, Oh, look at it.
Speaker 2 (00:23):
Very much as to us, Heather, you know, to us
this is very much about fairness for farm staff and
then also enabling progression and then succession within the accepted What.
Speaker 1 (00:32):
About the first herd though, Explain to me why you'd
do that? I mean, because I can understand with the
farm you're living on the farm in the same way
that I'm living in my first house. But you're not
living in your herd, are you.
Speaker 2 (00:44):
Well. Farming is very very capital intensive, and to get
your foot in the foot in the door, you need
a lot of money as a deposit in order to
begin effectively moving your way up the ladder, such as
you know, leasing a farm and buying a flock of
sheep or her owning share milking, and so for example,
for us, we ever heard of four hundred and fifty cows.
We needed over three hundred thousand dollars as a deposit
(01:05):
in order to be able to buy that herd and
progress within the sector. You know, Kiwi farmers are really
struggling to put that money aside, and a lot of
them are actually deciding not to put money into kiwisaver
and basically scrimp and save because I know they need
all the money that they can get to actually get
there for the door and move up that ladder.
Speaker 1 (01:23):
Would that not be the same as me taking out
my key we saveor to buy my first business.
Speaker 2 (01:28):
Well potentially, you know, and obviously they're going to need
to be some good guidelines around that, you know. Where
we would see it, it would be the idea that
you could only use the money to invest in something
that wouldn't appreciate effectively, So you wouldn't use it for
vehicles or anything like that. You could use it for
bricks and mortar, or a herd or a flop which
(01:48):
although they do get old and can die, they also
reproduce themselves as well.
Speaker 1 (01:52):
Okay, I mean, I think probably on the herd of
the flock, you may have a bit of a there
may be a bit of an argument about whether that's smart,
but certainly the first farm seems no brainer. So why
hasn't National done it? Then?
Speaker 2 (02:03):
Yeah, look, we're trying to understand it a little bit
as well. I suspect there are a few a few
things they need to work through in terms of how
they would potentially make this fear for everyone else, you know,
a little bit like you're referred to. But to us
it seems like an absolute no brainer. Probably the only
big point to make here is at the moment, you know,
when you if you live in an urban sitting, you
can easily buy your first heart, you know, put take
(02:24):
money out of you keep, we say it, to buy
your first house because you live in it. When you're
in a rule setting, your job typically comes with a
service centers a house that you live in on the
farm because you live remotely, and so all of these
young farm staff are actually unable to get onto the
property leadder at the same time as the urban peirs.
And so there's a real fairness issue here that needs
to be addressed.
Speaker 1 (02:44):
Now I know that there was remind me who it
is in the National Party who's got the members bill.
Speaker 2 (02:51):
Sue's red man, the MP further it together.
Speaker 1 (02:53):
Okay, so like, let's not be I don't want to
be unkind to her, but she's nobody right, She's right
back there. This is not a big person putting their
aim to this. So I think this is just being
parked the fact that they have got this, Sus has
put it into the biscuit tin about three weeks ago.
You guys are now launching a petition? Is that you
being frustrated that they're not actually getting on with this
in a significant way.
Speaker 2 (03:13):
So well, first of all, we're divided with what Sus
is done. She's been awesome in this respect, but we
are really pushing the government to actually, you know, follow
through on their promise that they made pre election, which
is to allow young farmers to remove money from their
QUI saver and a one off.
Speaker 1 (03:28):
What's going on though, Rochard, I mean you guys are
tapped in this. Is it act or New Zealand first?
Who is putting the kaibosh on this?
Speaker 2 (03:35):
Well, not entirely sure at this point, but in certainly
not progressing as fast as we think it should end.
So this petition, which has had a huge amount of
support so far and I'm sure we'll get heaps of
support over field days, is going to help to add
to the pressure on the government to actually get this
out of the line.
Speaker 1 (03:49):
Yeah, brilliant stuff. Hey Richard, thanks for talking us through
at Richard McIntire, Federated Farmer's chairperson of Dairy. Yeah, not
to be disrespectful to SUS, but SUS is their parking order. Ay,
they've parked it, giving it to SU as they were
like park that for us make it look like we're
doing something and we're not actually doing anything anyway. Nichola
Willis is with us, as you know, she's with us
after six on a Monday, so we have a little
chat to her, just find out what's going on here.
Speaker 2 (04:10):
For more from Hither Duplessy Allen Drive, listen live to
news talks it'd be from four pm weekdays, or follow
the podcast on iHeartRadio.
Should young farmers be allowed to use their Keiwi savers
to buy the first farm, the first flock, or the
first herd. Fed Farmers has just launched a petition calling
on the government to urgently change the key we Savior
rules to help farmers get their foot on the ladder.
And Richard McIntyre is fed Farmer's Dairy chair and with
us now, hey, Richard, hey, it seems to be a
no brainer at least to be able to buy the
(00:20):
first farm, right, Oh, look at it.
Speaker 2 (00:23):
Very much as to us, Heather, you know, to us
this is very much about fairness for farm staff and
then also enabling progression and then succession within the accepted What.
Speaker 1 (00:32):
About the first herd though, Explain to me why you'd
do that? I mean, because I can understand with the
farm you're living on the farm in the same way
that I'm living in my first house. But you're not
living in your herd, are you.
Speaker 2 (00:44):
Well. Farming is very very capital intensive, and to get
your foot in the foot in the door, you need
a lot of money as a deposit in order to
begin effectively moving your way up the ladder, such as
you know, leasing a farm and buying a flock of
sheep or her owning share milking, and so for example,
for us, we ever heard of four hundred and fifty cows.
We needed over three hundred thousand dollars as a deposit
(01:05):
in order to be able to buy that herd and
progress within the sector. You know, Kiwi farmers are really
struggling to put that money aside, and a lot of
them are actually deciding not to put money into kiwisaver
and basically scrimp and save because I know they need
all the money that they can get to actually get
there for the door and move up that ladder.
Speaker 1 (01:23):
Would that not be the same as me taking out
my key we saveor to buy my first business.
Speaker 2 (01:28):
Well potentially, you know, and obviously they're going to need
to be some good guidelines around that, you know. Where
we would see it, it would be the idea that
you could only use the money to invest in something
that wouldn't appreciate effectively, So you wouldn't use it for
vehicles or anything like that. You could use it for
bricks and mortar, or a herd or a flop which
(01:48):
although they do get old and can die, they also
reproduce themselves as well.
Speaker 1 (01:52):
Okay, I mean, I think probably on the herd of
the flock, you may have a bit of a there
may be a bit of an argument about whether that's smart,
but certainly the first farm seems no brainer. So why
hasn't National done it? Then?
Speaker 2 (02:03):
Yeah, look, we're trying to understand it a little bit
as well. I suspect there are a few a few
things they need to work through in terms of how
they would potentially make this fear for everyone else, you know,
a little bit like you're referred to. But to us
it seems like an absolute no brainer. Probably the only
big point to make here is at the moment, you know,
when you if you live in an urban sitting, you
can easily buy your first heart, you know, put take
(02:24):
money out of you keep, we say it, to buy
your first house because you live in it. When you're
in a rule setting, your job typically comes with a
service centers a house that you live in on the
farm because you live remotely, and so all of these
young farm staff are actually unable to get onto the
property leadder at the same time as the urban peirs.
And so there's a real fairness issue here that needs
to be addressed.
Speaker 1 (02:44):
Now I know that there was remind me who it
is in the National Party who's got the members bill.
Speaker 2 (02:51):
Sue's red man, the MP further it together.
Speaker 1 (02:53):
Okay, so like, let's not be I don't want to
be unkind to her, but she's nobody right, She's right
back there. This is not a big person putting their
aim to this. So I think this is just being
parked the fact that they have got this, Sus has
put it into the biscuit tin about three weeks ago.
You guys are now launching a petition? Is that you
being frustrated that they're not actually getting on with this
in a significant way.
Speaker 2 (03:13):
So well, first of all, we're divided with what Sus
is done. She's been awesome in this respect, but we
are really pushing the government to actually, you know, follow
through on their promise that they made pre election, which
is to allow young farmers to remove money from their
QUI saver and a one off.
Speaker 1 (03:28):
What's going on though, Rochard, I mean you guys are
tapped in this. Is it act or New Zealand first?
Who is putting the kaibosh on this?
Speaker 2 (03:35):
Well, not entirely sure at this point, but in certainly
not progressing as fast as we think it should end.
So this petition, which has had a huge amount of
support so far and I'm sure we'll get heaps of
support over field days, is going to help to add
to the pressure on the government to actually get this
out of the line.
Speaker 1 (03:49):
Yeah, brilliant stuff. Hey Richard, thanks for talking us through
at Richard McIntire, Federated Farmer's chairperson of Dairy. Yeah, not
to be disrespectful to SUS, but SUS is their parking order. Ay,
they've parked it, giving it to SU as they were
like park that for us make it look like we're
doing something and we're not actually doing anything anyway. Nichola
Willis is with us, as you know, she's with us
after six on a Monday, so we have a little
chat to her, just find out what's going on here.
Speaker 2 (04:10):
For more from Hither Duplessy Allen Drive, listen live to
news talks it'd be from four pm weekdays, or follow
the podcast on iHeartRadio.
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