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Brent Norling

👤 Speaker
496 total appearances

Appearances Over Time

Podcast Appearances

Keep The Change
NZ Liquidations At A 15-Year High: What’s Really Happening? w Brent Norling

Yeah.

Keep The Change
NZ Liquidations At A 15-Year High: What’s Really Happening? w Brent Norling

Because, because like, you know, like if you've got to be a troll, I like to think that I'm a better troll.

Keep The Change
NZ Liquidations At A 15-Year High: What’s Really Happening? w Brent Norling

So I sometimes have a little bit of fun.

Keep The Change
NZ Liquidations At A 15-Year High: What’s Really Happening? w Brent Norling

Yeah, get my crystal ball.

Keep The Change
NZ Liquidations At A 15-Year High: What’s Really Happening? w Brent Norling

You know, I won't talk about green shoots because that's what everyone does.

Keep The Change
NZ Liquidations At A 15-Year High: What’s Really Happening? w Brent Norling

I actually think it's going to be a real hard next couple of years.

Keep The Change
NZ Liquidations At A 15-Year High: What’s Really Happening? w Brent Norling

I, you know, coming back to the national tax debt, we've gone from 2.5 to 9.5 and I think the next update will start with a 10.

Keep The Change
NZ Liquidations At A 15-Year High: What’s Really Happening? w Brent Norling

We have not started to plateau or drop that.

Keep The Change
NZ Liquidations At A 15-Year High: What’s Really Happening? w Brent Norling

I'm also really mindful, and I was saying this in 2020, there is a lag between the event that caused the insolvency and the formal appointment.

Keep The Change
NZ Liquidations At A 15-Year High: What’s Really Happening? w Brent Norling

And I was saying back then, things we're doing now are going to result in increased insolvency numbers in a couple of years.

Keep The Change
NZ Liquidations At A 15-Year High: What’s Really Happening? w Brent Norling

The only thing I was wrong about, it wasn't a couple of years, it was more like three to four years, it started to increase.

Keep The Change
NZ Liquidations At A 15-Year High: What’s Really Happening? w Brent Norling

But a lot of that was because we kept extending some of the COVID response.

Keep The Change
NZ Liquidations At A 15-Year High: What’s Really Happening? w Brent Norling

And then, oh, and sorry, Grant Robinson said to the IOD to pull back on enforcement, which really slowed that momentum.

Keep The Change
NZ Liquidations At A 15-Year High: What’s Really Happening? w Brent Norling

So the IOD is a key part for me.

Keep The Change
NZ Liquidations At A 15-Year High: What’s Really Happening? w Brent Norling

Knowing how many companies are failing now, kind of look at it like there's going to be that lag from their customers, their suppliers, your subcontractors, you know, they're two to three years away from failing based on what we know with that lag.

Keep The Change
NZ Liquidations At A 15-Year High: What’s Really Happening? w Brent Norling

Um, you know, I just, um, I look at other pressures like with, with fuel, it's really not helping, um, what was already really strained situation.

Keep The Change
NZ Liquidations At A 15-Year High: What’s Really Happening? w Brent Norling

Um, so I think we, we're really in for more of the same for the next, next couple of years.

Keep The Change
NZ Liquidations At A 15-Year High: What’s Really Happening? w Brent Norling

Um, there's also, there's a few things which, um,

Keep The Change
NZ Liquidations At A 15-Year High: What’s Really Happening? w Brent Norling

like with the IOD, a lot of their liquidations now are going to the official Asani.

Keep The Change
NZ Liquidations At A 15-Year High: What’s Really Happening? w Brent Norling

What does that mean?