Yesterday, I opened the Salvation Army’s Red Shield Appeal in Auckland. I made a challenge there to those with discretionary income, and to the Corporate sector, to dig deep to support the voluntary social service sector. We simply have to go on supporting Women’s refuge and Plunket. But the rebuild of Christchurch, once the Insurance Companies and EQC have made their contribution, will fall on all of us, all New Zealand taxpayers and indeed all our citizens. Because we are all then poorer now, and there must be equity in this matter.

So why the student loan issue. Firstly, because it is a potential tragedy for New Zealand if we use our offshore talented young forever because their loans blow out under compounding interest, preventing them every coming home and facing the consequences.

You might say that the scheme is unfair and the burden is too great. But let’s get some proportion here. The median loan for the offshore kiwis is about $18,000. Mortgages is 20 to 30 times that. So these loans aren’t huge, but the numbers of people not repaying is huge at 35,000.

So here’s the point. What I am trying to do is create a “win-win-win”. A win for the individual who starts paying off a loan obligation and gets called a hero or heroine for doing so, becoming part of a group of young we shall talk about with respect for generations to come. Second a win for that individual who then at least has the option of a return to New Zealand in the future. And finally, of course, a win for their families at home.

Now I appreciate that this type of optimistic logic doesn’t work for all. I also acknowledge in my appeal that some may not be able to afford to pay. This is directed at those who can, and our feedback already tells us there are many in that category.

So finally to the issue of me, the baby boomer. I came form a home where neither of my parents had secondary eduction. They never gave me a cent towards university study, since they didn’t really comprehend its value. Every summer, for 5 years, I worked from 5 am to 8 pm in the Imlay Freezing works, including Christmas Day and other holidays. I never had a holiday ever during those summers. I paid my fees (equivalent to about $2000 per annum in today’s terms) and met most of my living expenses, though admit, I had won a national scholarship which helped support me.

During this time people in New Zealand were paying marginal tax rates of 66%. I paid a marginal tax rate of 66% for twenty years, until the 1990′s period to which you refer, when lower income taxes was traded off against more user pays.

I am not a rich man in dollar terms, though I am rich in the love of friends and family and I have been extraordinarily honoured by the country I love. I have tried to turn my science to the benefit of New Zealand by starting a company, with colleagues, a company which exports scientific instruments, earns millions for its shareholders (I’m a minor one) and which employs talented kiwis. My country has given me so much, including a marvellous health system which has sustained me through two major surgeries and three courses of chemotherapy.

Your generation has the change to make history. My recommendation is to seize it.

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