So, if these projections are reasonable, which I’d say they are, what is the subsequent impact on the cumulative housing supply deficit?
What is the point in having a far bigger labour force over the coming decades if there’s nowhere to house them in the style to which Kiwis accept as part of the social contract in this country i.e. no slums and a back yard?
Also, if the 65+ labour force is 10% of the labour force, and the natural rate of unemployment as considered by the Reserve Bank of New Zealand seems very high i.e. above 5%, then what policy options are there to incentivise their retirement?
If a few hundred thousand people who “qualify” for the NZ Super benefit were income tested and denied NZ Super that would cumulatively reduce the cost of NZ Super as a means of reducing elderly poverty by billions of dollars. Can we put that on the table please?
Source: Statistics New Zealand