BUDGET 2020 plus Mary Holm NZ Herald weekend column May 9

The Budget is about to be announced, and costs for Covid 19 will generate discussion. The usual array of commentators like Cameron Bagrie will no doubt come up with a range of ideas, including increasing the eligibility age for NZ Superannuation. You won’t catch him suggesting a wealth tax or land tax, and silence will continue on the issue of addressing the increasing ratio and ratchet effects over the last 30 years, of all the costs associated with the Corporate elite  senior executives and Chief Executive Remuneration.

Noticed in “The Press”, comment relating to the $900,000 packages (approx.) paid to the bosses of two Canterbury companies, Christchurch Airport and Enable. Both are good examples of packages which are not fit for purpose. Simply they are paying too much. Whats needed is to identify a reasonable annual rate of pay for the CEO position and pay a salary. Avoid advisers and consultants, have some workers on the governance body and do away with all incentives, bonuses etc. I would guess they would come up at a reimbursement figure of somewhere between $300-$450,000, now that’s a Covid 19 re-set.

KASPANZ - be a wise owl!

Mary Holm 9  May Letters  https://maryholm.com/categories/nz-herald-qa-column/

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