Shamubeel Eaqub

speaker

288 appearances 1 recordings 1 series first heard Jun 2026 last heard 28 Jun

Shamubeel Eaqub’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jun 2026 with 1.

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So this year we're going to spend about $25 billion on New Zealand super, increasing to about $30 billion in 2030.

So it's increasing really, really fast.

And to give you a little bit of context,

we spent $23 billion on education.

So we spend less on education, the future of New Zealand, than we do on New Zealand super.

And we spend just a little bit more on health.

So this is one of those massive line items.

And when people say that New Zealand super is important and it's beautiful, all of those things are true.

The question is, what are we willing to give up to keep this thing?

Absolutely.

So if you think about our kind of tax and spend system, it was designed at a time when we had lots of young people around.

We had lots of working-edge people.

We introduced New Zealand Super in the mid-1970s.

This was under Muldoon.

We gave up our compulsory super scheme.

And the idea was we have lots of young people.

We can do a pay-as-you-go system.

And at that time, we had eight working-age people per retiring.

Today, we have four.

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