April 30, 2025 • 4 mins
Interislander's Aratere is heading towards its final journey - as work is underway to get rid of the Cook Strait ferry's decaying dock.
Infrastructure is needed for new ferries, arriving in 2029, and work to demolish Aratere berth will in the coming months.
It'll spell an end to the ageing ferry's operation because it can't use other Interislander docks.
NZ Herald political editor Thomas Coughlan unpacks this announcement.
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Episode Transcript
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Speaker 1 (00:00):
Thomas Coglan, the Herald's political editors with us Thomas Hallow.
Speaker 2 (00:03):
Yeah, good afternoon.
Speaker 1 (00:04):
As you predicted, means testing is coming in by the
sounds of.
Speaker 2 (00:07):
Things, Yeah, yeah, very very interesting. I mean this was
essentially confirmed on your show yesterday. Nikola willis coming on.
I've listened back to the audio. She was asked three
times by you whether there would be any means testing
to the best Start payment that's the seventy three dollars
a week for parents of newborn's and then key we
save subsidies that's up to five hundred and twenty dollars
(00:29):
a year if you save into your keep saver. She
was asked three times whether there would be means testing
to those those areas of spending, and she wouldn't say no.
And it was interesting because you know, I did note
that she did say there was no changes to the
winter energy payment or the emissions trading scheme, So you know,
I think I think you can draw a pretty strong
connection between ruling one and one out. So very interesting.
(00:52):
Interesting lyere, we'll see on May twenty second budget day
what's happening.
Speaker 1 (00:55):
Yeah, it'll be interesting to see how much it saves
as well. But I mean, these are the kinds of
things we'll have to wait for the day to actually
has revealed.
Speaker 2 (01:01):
I actually have the numbers on the KIV saver subsidies
are about a billion dollars a year one point two billion,
so you wouldn't if you mean testing them, you might
not get rid of all of that. But one point
two billion a year on the kV saver ones, and
the best starts about three hundred and thirty million dollars
a year, so it's not small amounts of money. But
obviously we're spending about one hundred and forty billion dollars
a year, so it's there's still quite a lot a
(01:23):
lot to go defitits I think about fourteen billion, so
there's a lot of money.
Speaker 1 (01:27):
And so what's Labour's reaction to all of this.
Speaker 2 (01:29):
Yeah, well labors were struggling away, but they they they
blamed the deficit the cuts yesterday on the fact that
there were tax cuts in the last budget, sort of saying,
you know, if we didn't do the tax cuts last year,
then you wouldn't have to do the spending cuts this year.
But of course Labor at the election obviously wasn't promising
(01:49):
big tax cuts and did have the GST cut, but
they were promising far more spending than the nets, So
it's not it's not as if if it's not as
if Labor were re elected and this cut were't elected,
that the books would be in any better shape. Yes,
public services would have more funding based on what Labor
was promising, but also based on what Labor was promising,
there would be far more borrowing to pay for that funding.
(02:10):
So I think Chris Hipkins is trying to have it
both ways slightly. He's sort of saying, you know, look,
we'll fun public services better and have less borrowing. You
kind of you can't really do both unless you whack
a massive tax on the side, which it doesn't look
like that they're looking to do. I think it looks
like Labor's planning a relatively modest capital gains tax this
time around, and not a big wealth tax like they
(02:31):
were looking at a couple of years ago.
Speaker 1 (02:33):
Hey, listen, were you expecting the Artitia to be retired
this year? Well?
Speaker 2 (02:37):
There was. Interestingly enough, this was announced just this afternoon.
A couple of minutes ago, there had been some reporting
that it might need to be retired ahead of the
new theories coming in twenty twenty nine because there needs
to be a lot more work done at the Picton terminal.
But it certainly, I certainly wasn't expecting it to be
to basically retire from service almost immediately after it's entered
(03:00):
service in nineteen ninety nine. So yeah, look, there was
a bit of speculation, but this Sydney seems to have
come as a bit of a shot to some of us.
Speaker 1 (03:07):
Yes, totally, okay, now I know because of course, if
there isn't a kerfuffle on the Cookstrade already, it's going
to cause more of a kerfuffle.
Speaker 2 (03:13):
Isn't it.
Speaker 1 (03:13):
Now what I'm getting a look, the text machine is
having such a crack at me right now because everybody
on the text machine says we need to have financial
literacy in schools, which is fine, because we need to
have everything in schools. But what are we dropping Thomas?
Speaker 2 (03:26):
That is? That is a very good question. I look,
I reckon stand for what's chatting today about this? I
actually can't see that there is any that it's being
dropped for anything. Maybe you're aware of something I'm not.
It just looks like it's being it's being lumped onto
the curriculum. I have to agree with your texters. I
think a bit of financial literacy is good. You know
a lot of people are doing stuff like, oh, you know,
(03:48):
like when the tariffs are announced, they switched the key
we saver out of a growth and into a conservative
and locking those losses. You know, someone needs to tell
the kids to not do that.
Speaker 1 (03:55):
Yeah, come on, I mean is that kind of believe
it is that the level of is that what the
kids are going to learn or the kids going to learn?
In one side of the ledger you put in how
much your you're earning, and in the other side of
the leger you put in how much you're spending. And
that's called a budget.
Speaker 2 (04:12):
Well, honestly, either with with with net core crown deet
approaching two hundred billion dollars, I think all five million
of us could do it.
Speaker 1 (04:21):
Maybe do you think do you think if all all
five million of us and done financial literacy would be
harder on the finance minister and expect a zero budget?
Speaker 2 (04:28):
Yeah? Perhaps perhaps perhaps the perhaps the person who's least
who has the least incentive for this financial literacy as
the financial.
Speaker 1 (04:37):
Hey thank you. Thomas has always appreciated Thomas Coglan, the
Herald's political editor. For more from Hither Duplicy Allen Drive,
listen live to news talks. It'd be from four pm weekdays,
or follow the podcast on iHeartRadio
Thomas Coglan, the Herald's political editors with us Thomas Hallow.
Speaker 2 (00:03):
Yeah, good afternoon.
Speaker 1 (00:04):
As you predicted, means testing is coming in by the
sounds of.
Speaker 2 (00:07):
Things, Yeah, yeah, very very interesting. I mean this was
essentially confirmed on your show yesterday. Nikola willis coming on.
I've listened back to the audio. She was asked three
times by you whether there would be any means testing
to the best Start payment that's the seventy three dollars
a week for parents of newborn's and then key we
save subsidies that's up to five hundred and twenty dollars
(00:29):
a year if you save into your keep saver. She
was asked three times whether there would be means testing
to those those areas of spending, and she wouldn't say no.
And it was interesting because you know, I did note
that she did say there was no changes to the
winter energy payment or the emissions trading scheme, So you know,
I think I think you can draw a pretty strong
connection between ruling one and one out. So very interesting.
(00:52):
Interesting lyere, we'll see on May twenty second budget day
what's happening.
Speaker 1 (00:55):
Yeah, it'll be interesting to see how much it saves
as well. But I mean, these are the kinds of
things we'll have to wait for the day to actually
has revealed.
Speaker 2 (01:01):
I actually have the numbers on the KIV saver subsidies
are about a billion dollars a year one point two billion,
so you wouldn't if you mean testing them, you might
not get rid of all of that. But one point
two billion a year on the kV saver ones, and
the best starts about three hundred and thirty million dollars
a year, so it's not small amounts of money. But
obviously we're spending about one hundred and forty billion dollars
a year, so it's there's still quite a lot a
(01:23):
lot to go defitits I think about fourteen billion, so
there's a lot of money.
Speaker 1 (01:27):
And so what's Labour's reaction to all of this.
Speaker 2 (01:29):
Yeah, well labors were struggling away, but they they they
blamed the deficit the cuts yesterday on the fact that
there were tax cuts in the last budget, sort of saying,
you know, if we didn't do the tax cuts last year,
then you wouldn't have to do the spending cuts this year.
But of course Labor at the election obviously wasn't promising
(01:49):
big tax cuts and did have the GST cut, but
they were promising far more spending than the nets, So
it's not it's not as if if it's not as
if Labor were re elected and this cut were't elected,
that the books would be in any better shape. Yes,
public services would have more funding based on what Labor
was promising, but also based on what Labor was promising,
there would be far more borrowing to pay for that funding.
(02:10):
So I think Chris Hipkins is trying to have it
both ways slightly. He's sort of saying, you know, look,
we'll fun public services better and have less borrowing. You
kind of you can't really do both unless you whack
a massive tax on the side, which it doesn't look
like that they're looking to do. I think it looks
like Labor's planning a relatively modest capital gains tax this
time around, and not a big wealth tax like they
(02:31):
were looking at a couple of years ago.
Speaker 1 (02:33):
Hey, listen, were you expecting the Artitia to be retired
this year? Well?
Speaker 2 (02:37):
There was. Interestingly enough, this was announced just this afternoon.
A couple of minutes ago, there had been some reporting
that it might need to be retired ahead of the
new theories coming in twenty twenty nine because there needs
to be a lot more work done at the Picton terminal.
But it certainly, I certainly wasn't expecting it to be
to basically retire from service almost immediately after it's entered
(03:00):
service in nineteen ninety nine. So yeah, look, there was
a bit of speculation, but this Sydney seems to have
come as a bit of a shot to some of us.
Speaker 1 (03:07):
Yes, totally, okay, now I know because of course, if
there isn't a kerfuffle on the Cookstrade already, it's going
to cause more of a kerfuffle.
Speaker 2 (03:13):
Isn't it.
Speaker 1 (03:13):
Now what I'm getting a look, the text machine is
having such a crack at me right now because everybody
on the text machine says we need to have financial
literacy in schools, which is fine, because we need to
have everything in schools. But what are we dropping Thomas?
Speaker 2 (03:26):
That is? That is a very good question. I look,
I reckon stand for what's chatting today about this? I
actually can't see that there is any that it's being
dropped for anything. Maybe you're aware of something I'm not.
It just looks like it's being it's being lumped onto
the curriculum. I have to agree with your texters. I
think a bit of financial literacy is good. You know
a lot of people are doing stuff like, oh, you know,
(03:48):
like when the tariffs are announced, they switched the key
we saver out of a growth and into a conservative
and locking those losses. You know, someone needs to tell
the kids to not do that.
Speaker 1 (03:55):
Yeah, come on, I mean is that kind of believe
it is that the level of is that what the
kids are going to learn or the kids going to learn?
In one side of the ledger you put in how
much your you're earning, and in the other side of
the leger you put in how much you're spending. And
that's called a budget.
Speaker 2 (04:12):
Well, honestly, either with with with net core crown deet
approaching two hundred billion dollars, I think all five million
of us could do it.
Speaker 1 (04:21):
Maybe do you think do you think if all all
five million of us and done financial literacy would be
harder on the finance minister and expect a zero budget?
Speaker 2 (04:28):
Yeah? Perhaps perhaps perhaps the perhaps the person who's least
who has the least incentive for this financial literacy as
the financial.
Speaker 1 (04:37):
Hey thank you. Thomas has always appreciated Thomas Coglan, the
Herald's political editor. For more from Hither Duplicy Allen Drive,
listen live to news talks. It'd be from four pm weekdays,
or follow the podcast on iHeartRadio
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