Mike's Minute: We need more detail on this Future Fund

It sounds good on paper, or in front of your fans, but we need more detail on the so-called Future Fund, the $100 billion it will raise and the tax incentivisation that will be needed to get the money here. It is the new New Zealand First policy. They celebrated their 31st get-together over the weekend. Peters got a reasonable amount of coverage, and it didn’t have too much of the old days about it where the TV cameras wander around looking for weirdos to say funny things. The thing about Government generally is it gives you an element of credibility. In fact, you could argue after 31-odd years, New Zealand First is having its best days ever. Yes, they have been in power numerous times. But so far - touch wood - this time actually seems to be going smoothly. We have had nothing of the previous friction. It is indeed early days, and it is currently helped by the fact the Government is travelling well and is solid in the polls and looks set to hold for a good crack at another term. Indeed, the so-called "green shoots" we are seeing might well turn into a period next year, and into 2026, of decent growth and with it will come the election year optimism that will see a return for another three years. Peters previously, and most certainly this time, is proving to be an outstanding foreign minister, helped in small part by the fact the previous one was historically useless. Back to this future fund - he talks of missing a key ingredient, the ability for foreign investors to truly be part of this country, and to do that you need to buy a house. They can't buy a house because of New Zealand First policy that doesn’t allow it, which seems dichotomous. National compromised in coalition talks and carved out foreign houses as those over $2m but that still wasn't good enough for New Zealand First. It is a failed idea and probably the biggest mistake National made in giving it away. You need foreigners. That part isn't even debated. We need them for labour, for money, as well as culture and population growth. To help that, they need to feel like this is a place to call home. The easiest way to achieve that is to allow them to set up shop in a house. I am convinced the policy will be eventually tipped over, but until it is you can talk about future funds all you want. You can talk about foreign investment all you want. But the door has to be open. Not partially open and not open with caveats. We aren't a big enough deal globally to be forcing such a large compromise.See omnystudio.com/listener for privacy information.