The latest edition of Money Talks on Country99TV with host veteran journalist John Stewart was a lively and wide-ranging discussion.
Guests rural economist James Shortall of ASB Bank and business commentator Bernard Hickey from interest.co.nz spent some time discussing the crisis in the Eurozone and its potential for spill-over effects, particularly as it could affect demand for our agricultural exports. It was a sobering discussion with John Stewart remarking at one stage the European scenario painted by his guests is an outright depressing one.
The Fonterra payout got good coverage from the guests, with James being reminded he’d forecast last week that the payout could go to $8.00. John Stewart pointed out the Fonterra chairman, Sir Henry van der Heyden has said it could go “well over” the $8.00 mark as the season progresses. James says he may well be right but volatility in international marketsmeans it’s impossible to predict whether Sir Henry may be right.
The tax reforms in Bill English’s budget got a thorough going-over, with particular reference to the halt to claims for depreciation. John Stewart pointed out that one tax expert predicts that will cost millions to rural industries such as meat processing plants, coolstores and dairy factories which reduce in value over time and are often worth nothing at the end of their lives because they’re purpose-built. The meat industry plans to lobby on that. Bernard Hickey agreed it’s an issue, saying the government may have to tweak the rules on depreciation.
The latest edition of Money Talks can be seen for its initial airing at 8.30pm on Wednesday May the 26th and will be given repeat airings.
