May 22, 2025 • 11 mins
FIRST WITH YESTERDAY'S NEWS (highlights from Thursday on Newstalk ZB) Cuts Weren't Deep Enough and There Weren't Enough of Them/Our Dropkick Kids Aren't Going Anywhere/Super Is Still Radioactive/Why We Can't Have Nice Things
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Speaker 1 (00:09):
You're listening to a podcast from News Talk Said B.
Follow this and our wide range of podcasts now on
iHeartRadio Used Talk said B Talk.
Speaker 2 (00:24):
Hello, my beautiful beanies, and welcome to the Bean for Friday.
First with yesterday's news, I am Glen Hart, and today
we're going to find out if.
Speaker 3 (00:33):
We can retire. All I've ever wanted to do was retire.
Speaker 2 (00:39):
We've got Smith and Coey's closing, which I thought had
already happened, and oh yes it was budget day.
Speaker 1 (00:46):
That's right.
Speaker 4 (00:47):
If you share my view that this country isn't a
hot mess financially, then this budget is underwhelming, I would say.
Or you could say it's disappointing, or you could say
it doesn't go far enough. You can pick your epithet.
It's called the growth budget, but find the growth in it.
For me, there is no growth here. The only growth
that we can see is as the result of a
tax incentive scheme, which is a good idea but just
doesn't go far enough. It lifts g buy get this
(01:10):
one percent over twenty years. So what is that when
you split it twenty ways? Is that growth or is
it now just a rounding era. In fact, the budget
is full of this kind of thing. It's good ideas, Yeah,
good ideas, but only half baked. Cutting eighteen and nineteen
year olds off the dollar, making the parents take responsibility
is a great idea, but it's so full of loopholes.
(01:32):
You can already see exactly how these kids are going
to get around the rules and stay on the doll
Cutting the government key, we save a contribution to rich people,
exactly what should happen, but it should be cut to everyone.
The gas exploration money exactly what needs to happen. But
it's tiny. I mean, it's a couple hundred million dollars
in an industry that talks in billions. Five billion dollars
worth of savings and cuts, which are small beer. That's
the same amount that we rack up five billion is
(01:54):
the same amount that we rack up in interest payments
on our national debt in just seven months. So if
you were hoping for something to turn the ship around,
something that supercharges growth, something that slash is spending or
rarely gets us out of this financial trouble that we're in,
this is not it. This is a budget of good
ideas that do not go far enough.
Speaker 3 (02:12):
Okay, So yeah, Heather, not holding back there. She wishes
that they'd spent less and cut more.
Speaker 1 (02:26):
By this.
Speaker 3 (02:26):
Out of the things news talk has it been.
Speaker 2 (02:30):
I think Marcus was pretty keen to talk about the
budget too. Was there anything in it for him?
Speaker 5 (02:34):
Takes people a little bit of time and thinking, hang on,
this is going to affect me in this way, and
then perhaps the outrage and things will trickle down, trickle through.
Speaker 6 (02:43):
Well.
Speaker 5 (02:43):
I think the budget cycle has changed somewhat now with
the leaks before, not the leaks, but with the release
of material before the actual day.
Speaker 3 (02:52):
You don't get it like you once did.
Speaker 5 (02:56):
Oh and of course the the It's not like the
price of smokes and beer. Once upon a time, which
was huge. It was all cigarettes and beer and guess
and people would drive to the gas station to flop
their car.
Speaker 3 (03:15):
They'd buy smokes and.
Speaker 5 (03:16):
Beer, they'd stock parleyhead of the budget.
Speaker 3 (03:20):
But now not so much. I don't think you could
ever buy beer from the petrol station. I think you can.
And America.
Speaker 2 (03:26):
There's a lot of stuff you can do in America,
isn't there.
Speaker 3 (03:29):
I think you can buy.
Speaker 2 (03:33):
Talking to somebody recently who had spent a bit of
time living in Texas, you could buy bourbon and guns
and ammunition from the Seva station. I think, great place,
but Marcus is right, there's no real great unveiling with
(03:56):
the It's a bit like a Mission Impossible movie trailer.
It shows you all the good bits before the movie
actually comes out, and then you're watching it and you're
wondering why you're wasting time watching it because.
Speaker 3 (04:06):
You've already seen it.
Speaker 1 (04:07):
Ques talk said, what.
Speaker 2 (04:09):
About this whole business of parents having to look after
drop kids for a couple more years, longer than they
had to before.
Speaker 7 (04:19):
We do have an eighteen year old who has left
school and he didn't want to go on the benefit,
so he found a job. But unfortunately that job didn't
work out, so he's been temping and trying to get
in roads that way, which is great. He just started
going flatting and the temping has kind of not worked
out particularly well, so he's living pretty much hand to mouth.
(04:42):
He did ask us for a loan, because you know,
rent is jew and power is due and all those
good things. And I know this might sound harsh, but
we've actually said no. And I think we're thinking that
perhaps a bit of hardship might push or you know,
give him a little bit more motivation, and I said
(05:02):
to him, I said, you know, obviously we love you,
but there's two reasons why I'm going to say no. One,
we've always said be the lender, not the borrower, for
getting in debt is not a good option. But two,
are you doing everything absolutely possible? Like are you spending
eight hours a day looking for a job, because your
full time job is getting a job. And he understood that,
(05:25):
and as hard as it is as a parent, and
we can't afford to help him, but we've also got
other children too, and they're all out of home. So
where do you draw the line?
Speaker 6 (05:37):
You know?
Speaker 5 (05:38):
So, but of course you are the backstop of things
got incredibly bad for him.
Speaker 3 (05:44):
Yeah, I'm not wildly excited about.
Speaker 5 (05:49):
This.
Speaker 2 (05:50):
I mean, I don't have any seventeen or eighteen year
olds anymore, but.
Speaker 3 (05:58):
I've still got.
Speaker 2 (06:01):
Adult I'm using air quotes and I say that heads
in the house. One of them isn't even my kid.
They've just lost their job, and now I seem to
be looking after him. I don't know how did this happen.
I've spent my entire life trying to get my kids
out of my house, and now I'm taking on other
(06:22):
people's When I retire, am I still going to be
looking after these bloody useless kids? Why won't they go
out of my house?
Speaker 3 (06:33):
Go away right now?
Speaker 8 (06:34):
Providing I make it to sixty five, and you don't
want to count your blessed things, do you, But providing
I make it there, assuming for a second that I do,
I don't expect that I'll be receiving the full pension.
And you know what, I would rather receive less at
a later age than pay more taxes through my working life.
(06:55):
Guess what the number of people over sixty five was
in this country in two thousand and six, four hundred
and ninety five thousand, about half a million. It's increasing
by eighty a day. It will reach one million by
twenty twenty eight in a couple of years, by twenty
fifty one and a half million. You can see where
this is going compared to the OECD. We have the
(07:15):
highest basic pension paid from general taxes in the OECD,
and of course we've got fewer young people working to
support it. Treasury says this will blow out. We will
need to increase taxes. Personally, No thanks, With another about
thirty years on the clock before I get to this
magical age. How much extra tax must I pay? Which
(07:38):
color government will be in charge when the inevitable happens?
Why can't I instead invest my own money, with the
help of compounding returns, hopefully set myself up for my
own retirement like most kiwis. I hope and again you
don't count your blessings. I hope I will have invested
wisely and saved adequately to feed and house myself. If
(07:58):
that changes, then a means tested system should always be
a safety net. But at some point we have to
move on from think big on z Super to something smaller.
We need to put this thing on a diet.
Speaker 3 (08:13):
It's radioactive though, that issue, isn't it.
Speaker 2 (08:16):
No no political party in New Zealand ever wants to
go anywhere here making changes to Super?
Speaker 3 (08:21):
Do they?
Speaker 1 (08:23):
News talk Z been right?
Speaker 2 (08:26):
Let's finish up now talking about It's very strange wheat
we get told that we don't have enough retail space.
There's a big demand and we need to And then
at the same time, so I think Cooey's closers gown.
So you know, this is quite a large building that
people put some shops, and I would have thought.
Speaker 6 (08:43):
They said that their customer base had aged out and
they weren't being replaced, that they were trying to reinvigorate
their customer base, but the younger generation are just not
interested and buying the more expensive New Zealand designed New
Zealand made fashion. They have a huge number of loyal customers,
(09:06):
but as the women aren't in the corporate workforce anymore,
as they work from home or go on to directorships
or don't go to the big events anymore, they don't
need the same wardrobe. And the younger women are just going, no,
you know what, We're not going to pay those prices.
So the kids may well bunk off school to take
(09:26):
part in climate emergency protests, and they may well harangue
the older generation for bequeathing them a world on fire,
but they're not willing to settle for one outfit a
year from a New Zealand designer when they could have
fifty dresses from TEAMU. So rather than actually putting their
(09:46):
money where their mouths are and not contributing to the
ecological environmental climate change disaster of fast fashion, and rather
than support New Zealand designers and New Zealand machinists and
New Zealand pattern makers. They'll go and do their climate
(10:10):
protests at lunchtime and then be home in time to
make some clicks on Tima or Sheen to get their
fast fashion. You can see the mountain of fast fashion
waste from space and the kids could do something about it,
but they choose not to. And that means that we're
(10:33):
going to see more of these closures and more skills
and crafts lost as the younger generation just don't care.
So I don't think I'll be harangued by a young
one about the state of the world anytime soon, and
take that lightly.
Speaker 2 (10:51):
Perhaps the weirdest thing about this within Choey's thing is
that it's one of those things that some people call
it smithin Choee and other people call it Smith and Koe's,
which I think is correct. There's an apostrophe, yes, but
there's a Mandela effect going on there. I was convinced
it was Smith and Coey, and I looked it up
and was wrong. And I think I've been wrong about
(11:12):
it and locked it up about if you have several.
Speaker 3 (11:15):
Times and I just keep getting it wrong.
Speaker 2 (11:18):
It's like the whole Hawk Bay Hawks Bay the Hawks Bay.
I mean you can look it up and you can
tell you all right. I must remember what it actually is,
and then next time you will still get it wrong.
This is a bit of meaningless waffle at the end,
wasn't it. It was going so well up until this point.
I must need a weekend. We'll have a weekend and
(11:39):
we're back with a weekend edition of News Talks Hed Been.
On Monday, see.
Speaker 1 (11:43):
Then used talks talks it Been. For more from news Talk,
said B. Listen live on air or online, and keep
our shows with you wherever you go with our podcasts
on iHeartRadio
You're listening to a podcast from News Talk Said B.
Follow this and our wide range of podcasts now on
iHeartRadio Used Talk said B Talk.
Speaker 2 (00:24):
Hello, my beautiful beanies, and welcome to the Bean for Friday.
First with yesterday's news, I am Glen Hart, and today
we're going to find out if.
Speaker 3 (00:33):
We can retire. All I've ever wanted to do was retire.
Speaker 2 (00:39):
We've got Smith and Coey's closing, which I thought had
already happened, and oh yes it was budget day.
Speaker 1 (00:46):
That's right.
Speaker 4 (00:47):
If you share my view that this country isn't a
hot mess financially, then this budget is underwhelming, I would say.
Or you could say it's disappointing, or you could say
it doesn't go far enough. You can pick your epithet.
It's called the growth budget, but find the growth in it.
For me, there is no growth here. The only growth
that we can see is as the result of a
tax incentive scheme, which is a good idea but just
doesn't go far enough. It lifts g buy get this
(01:10):
one percent over twenty years. So what is that when
you split it twenty ways? Is that growth or is
it now just a rounding era. In fact, the budget
is full of this kind of thing. It's good ideas, Yeah,
good ideas, but only half baked. Cutting eighteen and nineteen
year olds off the dollar, making the parents take responsibility
is a great idea, but it's so full of loopholes.
(01:32):
You can already see exactly how these kids are going
to get around the rules and stay on the doll
Cutting the government key, we save a contribution to rich people,
exactly what should happen, but it should be cut to everyone.
The gas exploration money exactly what needs to happen. But
it's tiny. I mean, it's a couple hundred million dollars
in an industry that talks in billions. Five billion dollars
worth of savings and cuts, which are small beer. That's
the same amount that we rack up five billion is
(01:54):
the same amount that we rack up in interest payments
on our national debt in just seven months. So if
you were hoping for something to turn the ship around,
something that supercharges growth, something that slash is spending or
rarely gets us out of this financial trouble that we're in,
this is not it. This is a budget of good
ideas that do not go far enough.
Speaker 3 (02:12):
Okay, So yeah, Heather, not holding back there. She wishes
that they'd spent less and cut more.
Speaker 1 (02:26):
By this.
Speaker 3 (02:26):
Out of the things news talk has it been.
Speaker 2 (02:30):
I think Marcus was pretty keen to talk about the
budget too. Was there anything in it for him?
Speaker 5 (02:34):
Takes people a little bit of time and thinking, hang on,
this is going to affect me in this way, and
then perhaps the outrage and things will trickle down, trickle through.
Speaker 6 (02:43):
Well.
Speaker 5 (02:43):
I think the budget cycle has changed somewhat now with
the leaks before, not the leaks, but with the release
of material before the actual day.
Speaker 3 (02:52):
You don't get it like you once did.
Speaker 5 (02:56):
Oh and of course the the It's not like the
price of smokes and beer. Once upon a time, which
was huge. It was all cigarettes and beer and guess
and people would drive to the gas station to flop
their car.
Speaker 3 (03:15):
They'd buy smokes and.
Speaker 5 (03:16):
Beer, they'd stock parleyhead of the budget.
Speaker 3 (03:20):
But now not so much. I don't think you could
ever buy beer from the petrol station. I think you can.
And America.
Speaker 2 (03:26):
There's a lot of stuff you can do in America,
isn't there.
Speaker 3 (03:29):
I think you can buy.
Speaker 2 (03:33):
Talking to somebody recently who had spent a bit of
time living in Texas, you could buy bourbon and guns
and ammunition from the Seva station. I think, great place,
but Marcus is right, there's no real great unveiling with
(03:56):
the It's a bit like a Mission Impossible movie trailer.
It shows you all the good bits before the movie
actually comes out, and then you're watching it and you're
wondering why you're wasting time watching it because.
Speaker 3 (04:06):
You've already seen it.
Speaker 1 (04:07):
Ques talk said, what.
Speaker 2 (04:09):
About this whole business of parents having to look after
drop kids for a couple more years, longer than they
had to before.
Speaker 7 (04:19):
We do have an eighteen year old who has left
school and he didn't want to go on the benefit,
so he found a job. But unfortunately that job didn't
work out, so he's been temping and trying to get
in roads that way, which is great. He just started
going flatting and the temping has kind of not worked
out particularly well, so he's living pretty much hand to mouth.
(04:42):
He did ask us for a loan, because you know,
rent is jew and power is due and all those
good things. And I know this might sound harsh, but
we've actually said no. And I think we're thinking that
perhaps a bit of hardship might push or you know,
give him a little bit more motivation, and I said
(05:02):
to him, I said, you know, obviously we love you,
but there's two reasons why I'm going to say no. One,
we've always said be the lender, not the borrower, for
getting in debt is not a good option. But two,
are you doing everything absolutely possible? Like are you spending
eight hours a day looking for a job, because your
full time job is getting a job. And he understood that,
(05:25):
and as hard as it is as a parent, and
we can't afford to help him, but we've also got
other children too, and they're all out of home. So
where do you draw the line?
Speaker 6 (05:37):
You know?
Speaker 5 (05:38):
So, but of course you are the backstop of things
got incredibly bad for him.
Speaker 3 (05:44):
Yeah, I'm not wildly excited about.
Speaker 5 (05:49):
This.
Speaker 2 (05:50):
I mean, I don't have any seventeen or eighteen year
olds anymore, but.
Speaker 3 (05:58):
I've still got.
Speaker 2 (06:01):
Adult I'm using air quotes and I say that heads
in the house. One of them isn't even my kid.
They've just lost their job, and now I seem to
be looking after him. I don't know how did this happen.
I've spent my entire life trying to get my kids
out of my house, and now I'm taking on other
(06:22):
people's When I retire, am I still going to be
looking after these bloody useless kids? Why won't they go
out of my house?
Speaker 3 (06:33):
Go away right now?
Speaker 8 (06:34):
Providing I make it to sixty five, and you don't
want to count your blessed things, do you, But providing
I make it there, assuming for a second that I do,
I don't expect that I'll be receiving the full pension.
And you know what, I would rather receive less at
a later age than pay more taxes through my working life.
(06:55):
Guess what the number of people over sixty five was
in this country in two thousand and six, four hundred
and ninety five thousand, about half a million. It's increasing
by eighty a day. It will reach one million by
twenty twenty eight in a couple of years, by twenty
fifty one and a half million. You can see where
this is going compared to the OECD. We have the
(07:15):
highest basic pension paid from general taxes in the OECD,
and of course we've got fewer young people working to
support it. Treasury says this will blow out. We will
need to increase taxes. Personally, No thanks, With another about
thirty years on the clock before I get to this
magical age. How much extra tax must I pay? Which
(07:38):
color government will be in charge when the inevitable happens?
Why can't I instead invest my own money, with the
help of compounding returns, hopefully set myself up for my
own retirement like most kiwis. I hope and again you
don't count your blessings. I hope I will have invested
wisely and saved adequately to feed and house myself. If
(07:58):
that changes, then a means tested system should always be
a safety net. But at some point we have to
move on from think big on z Super to something smaller.
We need to put this thing on a diet.
Speaker 3 (08:13):
It's radioactive though, that issue, isn't it.
Speaker 2 (08:16):
No no political party in New Zealand ever wants to
go anywhere here making changes to Super?
Speaker 3 (08:21):
Do they?
Speaker 1 (08:23):
News talk Z been right?
Speaker 2 (08:26):
Let's finish up now talking about It's very strange wheat
we get told that we don't have enough retail space.
There's a big demand and we need to And then
at the same time, so I think Cooey's closers gown.
So you know, this is quite a large building that
people put some shops, and I would have thought.
Speaker 6 (08:43):
They said that their customer base had aged out and
they weren't being replaced, that they were trying to reinvigorate
their customer base, but the younger generation are just not
interested and buying the more expensive New Zealand designed New
Zealand made fashion. They have a huge number of loyal customers,
(09:06):
but as the women aren't in the corporate workforce anymore,
as they work from home or go on to directorships
or don't go to the big events anymore, they don't
need the same wardrobe. And the younger women are just going, no,
you know what, We're not going to pay those prices.
So the kids may well bunk off school to take
(09:26):
part in climate emergency protests, and they may well harangue
the older generation for bequeathing them a world on fire,
but they're not willing to settle for one outfit a
year from a New Zealand designer when they could have
fifty dresses from TEAMU. So rather than actually putting their
(09:46):
money where their mouths are and not contributing to the
ecological environmental climate change disaster of fast fashion, and rather
than support New Zealand designers and New Zealand machinists and
New Zealand pattern makers. They'll go and do their climate
(10:10):
protests at lunchtime and then be home in time to
make some clicks on Tima or Sheen to get their
fast fashion. You can see the mountain of fast fashion
waste from space and the kids could do something about it,
but they choose not to. And that means that we're
(10:33):
going to see more of these closures and more skills
and crafts lost as the younger generation just don't care.
So I don't think I'll be harangued by a young
one about the state of the world anytime soon, and
take that lightly.
Speaker 2 (10:51):
Perhaps the weirdest thing about this within Choey's thing is
that it's one of those things that some people call
it smithin Choee and other people call it Smith and Koe's,
which I think is correct. There's an apostrophe, yes, but
there's a Mandela effect going on there. I was convinced
it was Smith and Coey, and I looked it up
and was wrong. And I think I've been wrong about
(11:12):
it and locked it up about if you have several.
Speaker 3 (11:15):
Times and I just keep getting it wrong.
Speaker 2 (11:18):
It's like the whole Hawk Bay Hawks Bay the Hawks Bay.
I mean you can look it up and you can
tell you all right. I must remember what it actually is,
and then next time you will still get it wrong.
This is a bit of meaningless waffle at the end,
wasn't it. It was going so well up until this point.
I must need a weekend. We'll have a weekend and
(11:39):
we're back with a weekend edition of News Talks Hed Been.
On Monday, see.
Speaker 1 (11:43):
Then used talks talks it Been. For more from news Talk,
said B. Listen live on air or online, and keep
our shows with you wherever you go with our podcasts
on iHeartRadio
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