NZ Billionaire Stephen Jennings Says His Country is in Denial About its Social and Economic Weaknesses

source: Twitter

A New Zealand billionaire has spoken out against myths and self-interest in what could be a turning point for dismantling some of the myths about the country..

“Kiwi oligarch” Stephen Jennings, wrote a foreword for the book Own Your Own Future written by ACT leader David Seymour. In his he said he believes that strong political leadership is required to change the status quo; and that politicians are using complexity to “avoid honest questions and effective solutions” to problems such as housing, education and pensions.

But no one likes to touch New Zealand’s sacred cows. Ask any migrant…

Jennings says that political leaders “defend the status quo and fail to implement badly-needed reforms…to protect selfish interests or prejudices”

That last statement will come as no surprise to any skilled migrant brought in to New Zealand to make a difference only to find that they’re expected to do things the Kiwi Way, or the Highway.

Furthermore, he reckons there is a culture of denial in the country, and that Auckland voters care more about their un-taxed property gains than the social issues they’re giving rise to…

“Sadly, in contrast to our celebration of success, mainstream New Zealand is engaging in a dangerous game of denial regarding our social and economic weaknesses,” Jennings says.

“In turn, this complacency is reflected in the prognostications and insipid policies of our mainstream political parties.”…

ssues as diverse as the equality in educational outcomes, housing affordability and the sustainability of our pension policies should be “matters of national shame”.

He indicates the solutions to the housing crisis is a capital gains tax. “Increase supply by relaxing planning and regulatory restrictions.

“Fundamentally Auckland house prices are amongst the least affordable in the world because most Auckland voters are more than happy with the status quo,” he says.

“They care little for the inequity of their untaxed gains or the plight of low-income young families at the bottom of the housing ladder.”

The reasons for the country’s “farcical” housing crisis, which mainly affects the young and poor, are simple – and so too are the solutions.

And in an apparent reference to the political toing-and-froing of raising the retirement age and pension saving, he saus New Zealand’s current superannuation policies are based on a giant game of pretend…” source

In his book, David Seymour attacked the Education Minister, Hekia Parata, calling her a “frenetic grandiloquent diva” and said he was bullied out of the “barbaric” Auckland Grammar School.

It appears that nothing much has changed since Seymour was a boy. New Zealand still has one of the world’s worst rates of school bullying.

3 thoughts on “NZ Billionaire Stephen Jennings Says His Country is in Denial About its Social and Economic Weaknesses

  1. When Emirates Team New Zealand won the Americas Cup recently, some Aucklanders were commenting on TV that hosting the cup in Auckland will be great for property prices. I thought at what point would some of these people consider property prices to be high enough.

    • Aus + NZ housing markets will almost certainly crash before the next America’s cup.

      High net migration won’t save them. Net migration to the Republic of Ireland was running at 3% prior to their bust.

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