The SME Stream

There’s optimism amongst the country's chief financial officers.  

Employment Agency Hunter Campbell's Mood of the CFO survey has found 57% of businesses have met or exceeded their revenue targets.  

But 45% are concerned the world economy is going to deteriorate.  

That figure's twice as high as last year's survey.  

Hunter Campbell Managing Partner Lee Marshall told Andrew Dickens New Zealand businesses are getting on with it, and we’re trucking along better than expected.  

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Almost all New Zealanders chose to not opt out of increasing their KiwiSaver payments.

Minimum contributions increased from 3 percent in April to 3.5, although people could remain at 3 percent if they wished. 

Finance Minister Nicola Willis says it's important the Government set out their direction to increase contributions further."

"Setting the direction out now makes it clear where we're going, it gives everyone time to adjust."

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Stock traders across the UK are hoping the next Prime Minister will lead to some much-needed stability.

Sir Keir Starmer has set out his plan to resign as UK Prime Minister and says a successor will be in place by Parliament's return in September at the latest.  

It means Downing Street will welcome its seventh leader in a decade.

Financial Times Whitehall editor Lucy Fisher told Ryan Bridge markets had already priced in a likely leadership change.

She says the signals pointing towards a fairly seamless transition of power, rather than a bloody contest, are being welcomed by the markets. 

Former Cabinet minister Andy Burnham has now returned to Parliament as MP for Makerfield and is considered a shoo-in to become the next Prime Minister.

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The Greens say they've 'had words' with one of the country's most well-known economists over a maths mistake in its tax policy.

It's issued a correction, saying the policy released yesterday will increase net revenue $5.15 billion dollars in the 2027/28 financial year - not $5.35 billion. 

Co-leader Chlöe Swarbrick says consultancy Infometrics - headed by Brad Olsen - had the job of analysing the policy figures. 

"It was supposed to be our insurance. This is, I think, just human error - and I know that Brad is also more than willing to front up for this."

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A fresh push for a nationwide bed tax has been launched by Regional Tourism New Zealand.  

Its proposal would see a small, user-pays tax for stays at hotels and Airbnbs, with the money going toward events and tourism infrastructure.  

The plan has the backing of several mayors including those of Auckland, Rotorua and Queenstown.  

Regional Tourism New Zealand Chair Andrew Wilson Mike Hosking that none of them want to see tourism growth curtailed, which means any charge needs to be modest. 

He says part of the reason they’re calling for a single national approach is so guardrails can be put in place to make sure the charge remains modest over time. 

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How do you start a business with no money, no mentor and no blueprint? In this episode I share the real story - where I started (promo girl, waitress, Uber driver), the very public failure that nearly broke me, and how that same business now turns over $10M+ a year.

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Finance Minister, Nicola Willis joins the show

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One major theme has emerged for this year’s election... money.

Two parties at the weekend launched ideas to get the country’s finances in order and future-proof our economy for generations to come.

 National held its annual party conference in high spirits, despite a polling support slide since the last election. They announced policy that would make KiwiSaver compulsory, raise minimum contributions, and require employers pay for staff over 65.

On the other hand, the Greens are focusing on taxing the rich, imposing a levy on the four big banks, and taxing offshore profits earned by tech giants.

NZ Herald chief political reporter Jamie Ensor is with us to break it all down.

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A tax expert says the Greens' proposed approach to tackling corporate greed - is likely to be unpopular. 

If elected, the party's promising to add new super rich, gifts and inheritance taxes, a major banks levy and a big tech tax. 

It also wants to lift the corporate tax rate to 33 percent - for large companies like supermarkets, gentailers and banks. 

PWC tax partner Sandy Lau shares her thoughts with Ryan. 

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There's no point talking about the latest loony bin tax plan grab from the Greens because it's not going to become anything more than a word doc on their website. It's not going to happen.

An inheritance tax is about the cruellest thing a state can impose on a grieving family. 33% when mum or dad dies. You've got to then take out a loan from the bank, congratulations bank and pay the government. Or sell the shares or property or whatever. Then pay the state. Congratulations state. 

The idea is that somehow, this act of forced goodwill, taxing assets your family's worked hard to acquire, using money that's already been taxed, earning income that is already taxed, will somewhere, somehow materially change the livers of others is absolute BS. 

I've just been in France where they have exactly this system. They have high personal income tax rates. And they're swinging far right.

And this plan includes a wealth tax on everything from shares to companies, which only a handful of countries around the world bother doing because you may have asset, but it doesn't mean you've got cash to pay a tax on it. 

Just a reminder. This is not how a country gets rich. This is not how you create more jobs and industry. It's not how you grow an economy.

And if you're not doing that. You're standing still or going backwards. 

We've been doing that in this country for too long. 

Ideas like this, may be appealing on paper, in reality almost never deliver the things the politicians espousing them promise on the hustings. 

You don't hear this said often but thank god for Labour completely ruling this thing out.

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