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Carmel Sepuloni

Carmel Sepuloni

Member of the New Zealand Parliament

Sep 29, 2026

RosettaHOST
39:15
Why this and not reinstating fees free?
39:18
Well, it's about debt reduction, uh, for, for our students.
39:23
So many are, are feeling the pressure from the debt that they have to pay back.
39:28
It's also, in some ways, a bit of a, a voluntary, um, a voluntary bonding scheme.
39:33
We want people to stay in New Zealand.
39:36
We need our talented young people who have graduated to stay here and contribute to building our country.
39:43
And so in some ways, you know, this assists with that as well.
RosettaHOST
43:07
Uh, how are you sure that you're gonna be able to find the money for this?
2:15
Carmel, what feedback have you had on the decision not to roll back the interest deductibility for landlords?
2:21
I guess for those that understand the structural fix that is a capital gains tax to property speculation, then for those people they understand that the restrictions on interest deductibility would be redundant or conflicting.
2:39
And so there's a technical side to this.
2:43
And, you know, that is how we came to make the decision.
2:47
If there was no CGT, of course, which there wouldn't be under a national government, then you would want to look at getting rid of interest deductibility or doing something with that.
2:59
But because Labour has proposed that, a very simple CGT that would only affect one in 10 New Zealanders and doesn't affect the farms or family home or business, then it actually, you know, goes to make the interest deductibility ongoing redundant.
4:32
back when you introduced, when you said you had the CGT policy, why in the interim have you not been...
4:38
Well, the government didn't have a CGT policy.
0:23
Carmel, what feedback have you had on the decision not to roll back the interest deductibility for landlords?
0:29
I guess first for those that understand the structural fix that is a capital gains tax to property speculation, um, then for those people they understand that the restrictions on interest deductibility would be redundant or conflicting.
0:47
And so there's, there's a, there's a technical side to this and, um, you know, that is how we came to make the decision.
0:55
If there was no CGT, of course, um, which there wouldn't be under a National government, um, then you would want to look at getting rid of interest deductibility or doing something with that.
1:07
But because Labor has proposed a very simple CGT that would only affect one in 10 New Zealanders and doesn't affect the f- farms or family home or business, um, then it actually, you know, goes to make the interest deductibility ongoing redundant.
2:47
... rolling it out?
2:47
... didn't have a CGT policy.
2:49
And so, you know, certainly we do going into this election.
0:23
Carmel, what feedback have you had on the decision not to roll back the interest deductibility for landlords?
0:29
I guess for those that understand the structural fix that is a capital gains tax to property speculation, then for those people, they understand that the restrictions on interest deductibility would be redundant or conflicting.
0:47
And so there's a technical side to this, and that is how we came to make the decision.
0:55
If there was no CGT, of course, which there wouldn't be under a national government, then you would want to look at getting rid of interest deductibility or doing something with that.
1:07
But because Labour has proposed a very simple CGT that would... only affect one in 10 New Zealanders and doesn't affect the farms or family home or business, then it actually, you know, goes to make the interest deductibility ongoing redundant.
2:46
the government
2:47
didn't have a CGT policy.
2:49
And so, you know, certainly we do going into this election.
JohnHOST
1:11
Carmel Sepuloni, what do we need to do?
1:14
Well, firstly, recognize the crisis that's in front of us.
1:18
Um, Simeon also needs to acknowledge, as does Nicola and the rest of the government, the shortfalls.
1:24
Uh, you know, the funding has fallen behind inflation, and what we're seeing is, uh, understaffing, only 54 nurses across the whole country in the last two years.
1:35
Uh, patients are in our corridors.
1:37
Uh, I've spent a lot of time in, in hospitals in the last six months, John, and, you know, even those family rooms, they're not for families anymore because they're having to use them for patients, uh, because they simply don't have the space and they don't have the workforce.
1:52
There has to be a recognition from this government that they prioritized other areas, and the money they've put into the health system has not kept up with inflation and real costs, and now our health system is falling behind as a result of that.
4:44
I don't know what you're basing that statement on.
16:21
Carmel Sepuloni, what do we need to do?
16:24
Well, firstly, recognize the crisis that's in front of us.
16:28
Um, Simeon also needs to acknowledge, as does Nicola and the rest of the government, the shortfalls.
16:34
Uh, you know, the funding has fallen behind inflation, and what we're seeing is, uh, understaffing.
16:39
Only fifty-four nurses across the whole country in the last two years.
16:45
Uh, patients are in our corridors.
16:47
Uh, I've spent a lot of time in, in hospitals in the last six months, John, and, you know, even those family rooms, they're not for families anymore because they're having to use them for patients, uh, because they simply don't have the space and they don't have the workforce.
19:54
I don't know what you're basing that statement on.
1:11
Carmel Sepuloni, what do we need to do?
1:14
Well, firstly, recognize the crisis that's in front of us.
1:18
Um, Simeon also needs to acknowledge, as does Nicola and the rest of the government, the shortfalls.
1:24
Uh, you know, the funding has fallen behind inflation, and what we're seeing is, uh, understaffing.
1:29
Only fifty-four nurses across the whole country in the last two years.
1:35
Uh, patients are in our corridors.
1:37
Uh, I've spent a lot of time in, in hospitals in the last six months, John, and, you know, even those family rooms, they're not for families anymore because they're having to use them for patients, uh, because they simply don't have the space, and they don't have the workforce.
4:44
I don't know what you're basing that statement on.
RosettaHOST
38:34
Shall we start with that? Do you want to run us through a couple of the key priorities with this?
38:40
Yeah, so this is our fiscal strategy that's been announced.
38:43
Our fiscal plan will be announced after pre-food is released and we get to have a look at the state of the books and understand what money is there and what money is forecast to be there.
38:54
We've been really clear about a number of things including restoring the Reserve Bank's dual mandate to consider price stability and maximum sustainable employment.
39:05
That has been missed under this government.
39:07
They changed it back and of course what we've seen is increasing levels of unemployment and a government that seems really dismissive of the impacts of that.
39:18
We've also said that we want to strengthen scrutiny of government spending by establishing an independent parliamentary budget office to analyse government finances and election commitments.

6 MINS LATER

RosettaHOST
45:15
Is Labour in agreeance with this as a sort of starting point for easing some of the load for graduates?
RosettaHOST
38:34
Shall we start with that? Do you want to run us through a couple of the key priorities with this?
38:40
Yeah, so this is our fiscal strategy that's been announced.
38:43
Our fiscal plan will be announced after pre-food is released and we get to have a look at the state of the books and understand what money is there and what money is forecast to be there.
38:54
We've been really clear about a number of things including restoring the Reserve Bank's dual mandate to consider price stability and maximum sustainable employment.
39:05
That has been missed under this government.
39:07
They changed it back and of course what we've seen is increasing levels of unemployment and a government that seems really dismissive of the impacts of that.
39:18
We've also said that we want to strengthen scrutiny of government spending by establishing an independent parliamentary budget office to analyse government finances and election commitments.

6 MINS LATER

RosettaHOST
45:15
Is Labour in agreeance with this as a sort of starting point for easing some of the load for graduates?
9:50
to market with this policy.
9:52
I don't have the actual figures on me, John, so I think it would be irresponsible for me to do that.
10:06
I want to say, you know, under this government, we've seen cuts everywhere.
10:12
And there is a cost to that.
10:13
People are experiencing that cost.
10:15
It's not always just a fiscal cost.
10:17
Sometimes it's a human cost.
12:49
So what is wrong with incentivising people into education, for example?
JohnHOST
4:19
But you don't have to wait for pre-foo to tell us the cost.
4:21
What is your estimate of what this costs? We don't have all of those figures in front of us, but what we've seen from National is just ridiculous.
4:29
They're over-inflating it to try and create, you know, to scare Munger.
4:35
I mean, the fact is they're still going to be increasing it by 20 cents a litre over the course of the term.
4:40
Now, New Zealanders have fallen so far behind in terms of the cost of living over the last three years that we know that they're going to struggle with that.
4:49
And we can't put that on Kiwis right now.
4:51
And so we've been clear about what we will do.

8 MINS LATER

JohnHOST
12:28
into education,
8:31
have them on them?
8:32
I think it would be irresponsible for me to do that.
8:34
But I want to be really clear about one thing.
8:36
Louise is talking about roads being run down.
8:39
And I want to say, you know, it's...
8:42
Under this government, we've seen cuts everywhere and there is a cost to that.
8:48
People are experiencing that cost.
11:56
into education,
speaker_1HOST
0:17
Shall we start with that? Do you want to run us through a couple of the sort of key priorities with this?
0:22
Yeah, so this is our fiscal strategy that's been announced.
0:26
Our fiscal plan will be announced after pre-foo is released and we get to have a look at the state of the books and understand what money is there and what money is forecast to be there.
0:36
We've been clear about a number of things.
0:40
including restoring the Reserve Bank's dual mandate to consider price stability and maximum sustainable employment.
0:47
That has been missed under this government.
0:50
They changed it back and of course what we've seen is increasing levels of unemployment and a government that seems really dismissive of the impacts of that.

6 MINS LATER

speaker_1HOST
6:57
Is Labour in agreeance with this as a starting point for easing some of the load for graduates?
JohnHOST
5:07
Carmel Sepuloni.
5:08
It is a CGT.
5:08
It is a CGT that does not impact 9 out of 10 New Zealanders.
5:13
It's not going to affect people's businesses, it's not going to affect their family home, and it's not going to affect their farm.
5:18
Um, this is a CGT where we have already said we would utilize the money to pay for, uh, things in our health system, including three free GP visits.
5:30
So let's be clear, Labor has one simple tax policy, and the disinformation that is coming from Nicola Willis and National only serves as a deflection for them-
JohnHOST
8:49
It's about, about the narrowest CGT in the OECD, isn't it?
8:52
It's a simple CGT, and it's really interesting that, you know, we've been talking about the possibility of a CGT for over a decade, um, certainly across the course of many cycles when I've been involved.
33:35
Hold, hold on, Carmel Sepuloni.
33:36
It is a CGT.
33:37
It is a CGT that does not impact 9 out of 10 New Zealanders.
33:42
It's not going to affect people's businesses.
33:44
It's not going to affect their family home, and it's not going to affect their farm.
33:48
Um, this is a CGT where we have already said we would utilize the money to pay for, uh, things in our health system, including three free GP visits.
33:59
So let's be clear, Labor has one simple tax policy, and the disinformation that is coming from Nicola Willis and National only serves as a deflection for them so that they don't have to talk about their own track record.
37:17
Well, the CGT, it's about the narrowest CGT in the OECD, isn't it?
5:06
Oh, hold on, Carmel Sepuloni.
5:08
It is a CGT.
5:08
It is a CGT that does not impact nine out of ten New Zealanders.
5:13
It's not going to affect people's businesses.
5:15
It's not going to affect their family home, and it's not going to affect their farm.
5:19
Um, this is a CGT where we have already said we would utilize the money to pay for, uh, things in our health system, including three free GP visits.
5:30
So let's be clear, Labor has one simple tax policy, and the disinformation that is coming from Nicola Willis and National only serves as a deflection for them so that they don't have to talk about their own track record.
8:49
It's ab-about the narrowest CGT in the OECD, isn't it?
7:22
How many jobs will that create and when?
7:24
... to be able to grow and thrive.
7:25
It is at least a plan.
7:27
It's more than what we're currently seeing.
7:29
What we've seen with this government is a government that is resiling from their responsibility, almost saying, "Well, we need a little bit of pain to get some gain." This is a lot of pain, John.
7:38
We've got over 40,000 more New Zealanders out of work since they took office.
7:44
Uh, and there seems to be an actual disregard for what that means for those people, what that means for their household, what that means for them being able to meet the costs of living, uh, for ev- you know, in the e- the everyday situation.
9:34
What would, what would Labor do differently?
JohnHOST
5:32
How many jobs will that create and when?
5:34
... to be able to grow and thrive.
5:36
It is at least a plan.
5:37
It's more than what we're currently seeing.
5:39
What we've seen with this government is a government that is resiling from their responsibility, almost saying, "Well, we need a little bit of pain to get some gain." This is a lot of pain, John.
5:48
We've got over 40,000 more New Zealanders out of work since they took office.
5:54
Uh, and there seems to be an actual disregard for what that means for those people, what that means for their household, what that means for them being able to meet the costs of living, uh, for ev- you know, in the e- uh, the everyday situation.
JohnHOST
7:44
... what would, what would Labor do differently?
5:32
How many jobs will that create and when?
5:33
To be able to grow and thrive.
5:36
It is at least a plan.
5:37
It's more than what we're currently seeing.
5:39
What we've seen with this government is a government that is resiling from their responsibility, almost saying, "Well, we need a little bit of pain to get some gain." This is a lot of pain, John.
5:48
We've got over forty thousand more New Zealanders out of work since they took office.
5:54
Uh, and there seems to be an actual disregard for what that means for those people, what that means for their household, what that means for them being able to meet the costs of living, uh, for e- you know, in the e- uh, the everyday situation.
7:44
What would, what would Labor do differently?
RosettaHOST
40:04
Why is it then that Labour leadership was absent from the recent E Tu Union, uh, event that happened in Māngere, uh, last week?
40:13
Yeah.
40:13
So we did have our workplace relations spokesperson there.
40:18
Um, Chippy gave the reasons why he couldn't attend, and in his place, uh, sending the workplace relations spokesperson who is a front bench, um, MP, who is a former cabinet minister, um, you know, seemed like the appropriate replacement.
40:36
Um, it was disappointing to hear that it was, uh, that it was made as if Labour wasn't in attendance.
40:45
We actually had two other MPs in attendance alongside Jan Tinetti, um, both of them local South Auckland MPs, both of them Pacific.
40:54
Many of the people in the room were Pacific.
RosettaHOST
43:19
But you're still open to working with Opportunity Party potentially?
RosettaHOST
4:16
Why is it then that Labour leadership was absent from the recent Etu Union event that happened in Mangere last week?
4:25
Yeah, so we did have our workplace relations spokesperson there.
4:30
Chippy gave the reasons why he couldn't attend, and in his place, sending the workplace relations spokesperson, who is a front-bench MP, who is a former Cabinet minister, you know, seemed like the appropriate replacement.
4:49
It was disappointing to hear that it was... made as if Laelua wasn't in attendance.
4:57
We actually had two other MPs in attendance alongside Jan Tinetti, both of them local South Auckland MPs, both of them Pacific.
5:06
Many of the people in the room were Pacific, and that was Lea Maunga, Lydia Soseni and Jenny Salesta.
5:13
We also had a number of candidates that were present in the room.
RosettaHOST
6:49
Why is that?
RosettaHOST
40:04
Why is it then that Labour leadership was absent from the recent Etu Union event that happened in Mangere last week?
40:13
Yeah, so we did have our workplace relations spokesperson there.
40:18
Chippy gave the reasons why he couldn't attend, and in his place, sending the workplace relations spokesperson, who is a front-bench MP, who is a former Cabinet minister, you know, seemed like the appropriate replacement.
40:36
It was disappointing to hear that it was... made as if Laidl wasn't in attendance.
40:45
We actually had two other MPs in attendance alongside Jan Tinetti, both of them local South Auckland MPs, both of them Pacific.
40:54
Many of the people in the room were Pacific, and that was Lea Maunga, Lydia Soseni, and Jenny Salesta.
41:01
We also had a number of candidates that were present in the room.
RosettaHOST
42:37
Why is that?
JohnHOST
2:37
So give me an example of government actions which have led to what you're
2:40
describing.
2:41
Well, I mean, you know, let's just talk about their fiscal decision making in general.
2:46
You know, they made the decision to give tax cuts when they were told that they were unaffordable funds.
2:52
They gave a $2.9 billion tax break to landlords.
2:57
They gave tax breaks to the tobacco industry.
2:59
They've made some decisions that haven't prioritised New Zealanders and haven't helped with our economic situation.

10 MINS LATER

JohnHOST
12:42
asking what have Labour got for them?
2:36
Much, much of it? So give me an example of, of, of government actions which have led to what you're describing.
2:41
Sure.
2:41
Well, I mean, you know, let's just talk about their, their fiscal decision-making in general.
2:46
You know, they made the decision to give tax cuts when they were told that they were unaffordable.
2:51
Um, they gave a two point nine billion dollar tax break to, uh, landlords.
2:57
Uh, they gave tax breaks to the tobacco industry.
2:59
They've made some decisions that haven't prioritized New Zealanders and haven't helped with our economic situation.

10 MINS LATER

12:41
No, sorry, I'm asking what have Labor got for them?
3:15
Bearing that in mind, isn't that even worse for Labor? If you're saying there's a real mood for change, people are completely sick of the c- current government, why are there not more people supporting Labor?
3:24
Well, it's still conflicted, I think.
3:26
You know, like the, the, the general sense of, of Kiwis is, oh, you know, have they had a fair go? Have they had enough of a go? At the same time, um, what we're hearing very clearly from them is that, uh, they are struggling with the cost of living.
3:40
Life has gone backwards.
3:41
It hasn't got better.
3:43
Uh, and so people are, are contemplating their choices right now, and that's, that's fair enough.
3:49
Uh, our job over the coming months is to prove that, uh, we have the alternative proposition, uh, and that, um, we are able to improve the lives of New Zealanders, and we have to convince New Zealanders of that.

9 MINS LATER

12:53
I- i- is it prudent to, to be, you know, I don't know, being sensible about this?

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