How many of the Greens have actually won a seat lately? One of Labours biggest losers, ever, was Norm Kirks son who was handed the safest Labour seat in the country, Sydenham. Clowns appear in every circus.
Printable View
How many of the Greens have actually won a seat lately? One of Labours biggest losers, ever, was Norm Kirks son who was handed the safest Labour seat in the country, Sydenham. Clowns appear in every circus.
Good attempt at trying to rewrite history EZ. It was not a small amount and he used the labourers both in Samoa and NZ. Nor was it a small matter and only dealt with because of Clark's "high standards". The fact it it was so serious that he went to jail for a few years for it.
No need to try and defend such actions and irrelevant whether they come from the left or right. They are completely unacceptable full stop.
"Are you aware of the Ligarde list? The IMF cannot be trusted".
Quoi? The LAgarde list (Christine Lagarde used to be French Finance Minister and is now Managing Director of the IMF) is/was a list of prominent people in various countries who cheated big time on their taxes by using off-shore tax havens. She released one to a Greek government last year who rapidly impounded it, kept it secret, and warned everyone on it to take evasive action. Parallel problems in some other countries. The IMF have subsequently published these lists re problem countries.
What's not to be trusted about the IMF concerning that? I'm all for cracking down on tax evaders/avoiders - they raise the taxes for you and I and spread a climate of corruption and crime.
Since Christine has become CEO the IMF has taken a much easier line with 3rd World countries.
The only people who can now complain about the IMF are way out right wing billionaires. Is that who you are supporting?
Aaron Gilmore only stays in to the next election then he's out because National will effectively dump him from their list.
Taito was out of the prison system by 2011, and is now working in the area of property development..
But I was a bit mistaken about Mr Gilmore, he was chosen by the National Party to contest a Labour safe seat, was in parliament for three years as a list MP last term, and this term was narrowly out of office from after the election, until Lockwood Smith left in 2013.
So I see his point of view, why don't we recognise who he is yet? Well we know a lot about him now. As MVT commneted, if he's lowered just a few numbers down the list, he won't be back as an MP. Before getting into politics, he worked with Tony Ryall, advising on the sale of SOEs (late 1990s). Has tertiary quals.
So really, he should have known better than to shoot his mouth off, in a place like NZ.
Did any body check to see if that waiter actually was dickhead?
Tounge firmly planted in cheek.
Simple answer put the lists on the ballot paper & let the public rate them in order of preference for all parties
Who is going to sit/stand at the booth and rank up to 50 or more candidates for each of the major parties.
It would be "I know about 10" then sequential after that - or not bother to vote at all cause it is all too hard:confused:
"Good news on the jobs front beating economists expectations - Statistics New Zealand's Household Labour Force Survey:
The unemployment rate fell to 6.2 percent in the first quarter (lowest since March 2010)
The number of people in work up 1.7 percent
Participation rate 67.8% from 67.2% ".
Anyone sane and unbiassed would regard this as good news.
However I predict that EZ, Possum and Belge will contort in rage and abuse :-)
Except of course it had happened under a Labour Govt and then they would have regarded it as good news.
Russel Norman that guy talks some bollocks in his eyes every Nat voter in RICH and every Green voter is poor working class .....just about every couple weeks he keeps saying it.....fact is I'm sure voters of both sides are a mix of different wealth.....but he keeps wanting to drive a wedge in the facts and play like he's robin-hood ....the fact is he's a complete GP tool
Major von Tempsky was the increase in the prison service or thousand part time jobs replacing 965 full time jobs Figures can lie if you do not know how they are calculated. remember somebody getting paid for working one hour a week is regarded as being in paid employment for statistics
Nice one Craic ;-), no wonder Wellington is declining!
Whale Oil on TV this morning, hoping Aaron Gilmore will disappear before the budget. Good news for National though, about the jobless numbers decreasing. They have a way to go to get them down to Labour's result of about 3% from memory, just a few years ago.
I have to wonder if the cash from MRP will simply be used to fix some gaping holes in the government's cashflow. Here's another one.
http://www.stuff.co.nz/national/chri...zone-shortfall
The Gilmore saga has reminded me about legislation passed in the House a few years ago called the Waka Jumping Bill. I do recall it had an expiry date on it. Can anybody enlighten me on why this was done, i.e. the expiration date ?
Belgarion TOO LONG
More curious detail from the past of Aaron Gilmore, National MP.
http://www.nbr.co.nz/article/gilmore...ed-gb-p-139948
Long enough to easily beat Labour's economic record :-)
That stuff has been out for days A more salient point. Had I, in my professional role, been preparing a report for a court for sentencing, the first thing I would have noticed and considered would have been the greatly overdone mop of hair and what is it concealing? At the top , to the back is a clear bald patch which will quickly join the receding forehead covered by carefully managed frontal hair. I would have visited his vanity, head on as this is his greatest weakness.
Fascinating to look at Aaron Gilmore's skull....to anyone who has followed all the articles about human evolution, relationship of homo neanderthalensis and homo sapiens.
A receding chin, a receding forehead, a long (from front to back) low braincase, a long face from the front in the sense of the proportion of it taken up from browridge down to mouth and large eyes.
Given that analysis has found that all non African races have between 2% to 6% Neanderthal admixture from interbreeding in two past periods you would have to guess that AG must be way up at 6% or even higher....
This comment bothered me, I wasn't sure about it. You're right though PTC, the 9th May survey was one of a few types used to measure employment, and it's done by extrapolating some sample households. 1 hour in paid employment counts in the Household Labour Force Survey, out on 9th May.
http://www.stats.govt.nz/browse_for_...ket-stats.aspx
Another measure is to total all the employment forms filled out for the month. This means that people working more than one job are counted again for each job.
I thought maybe the tax payments to govt would show up what's really happening. This was a surprise, as it shows that while Labour in its last three terms had record employment percentages, an ability to pay off old debt, and a growing tax base, the National Govt has recovered to even more net tax and excise income, yet the net position has worsened after the GFC and other disasters. Even PAYE revenue appears to be up on a trend, after dropping back. Inflation and an increasing population help here of course.
However the actual number of people employed is hard to gauge, considering the four techniques to measure it range from about 1.7mill to 2.2mill at the end of 2011. The latest HLF survey consistently produces the highest numbers.
http://www.stats.govt.nz/browse_for_...aspx#quarterly
Here is the page for tax outturn data tables, a pity it's not all one excel table for the last 20 years.
http://www.treasury.govt.nz/governme...nue/taxoutturn
Another treasury report from the end of 2012 is sober reading. It shows the effect of the GFC in 2008, and the rampant borrowing that has ensued. This year govt will issue $14billion of bonds to raise the extra funds needed. This drops back for a bit and then has to continue, just to make the interest payments I assume. We'll have recovered to the same low debt as a percentage of GDP that Labour left us with (4%) by 2027, (it's now heading for 30% of GDP) as long as all the modelling constraints are met, the govt gets $6billion over 4 years from asset sales, etc.
http://www.treasury.govt.nz/budget/f...12-pt4of11.pdf
If it was my business or my private affairs, I would be a bit unhappy, knowing what a great position I'd reached in early 2008. Treasury mentions that after a few years, the budget surpluses will allow the debt to be paid off slowly, and add a buffer for any future shocks. These charts already look bad, without factoring in a future shock.
I don't see any cheap energy or other super profits for NZ looming clearly on the horizon, so while I understand the govt's interest in opening up the offshore and onshore areas for gas/oil permits, this is still a long way off being a new reality. We are also being told by various market spectators to watch out for a sharemarket plunge, that this bull market has to end sometime.
John Key tells us there's 1,000 more doctors and 2,000 more nurses employed now, than in 2008. But there are a lot of other public sectors that have shed staff, and many private companies have done the same. The govt and the market is saying "be careful".
I just wonder if Labour's take on the last few years would have been different, and what position we'd be in now, if they were still in office.
El Zorro I was taught at an early age their was Lies, Dam Lies & Statistics, and all three could be used to try & make you think that the issuer new what they were talking about.
Arians are a sub-culture of Punjabi Muslims. Gilmore looks far more like a Scottish Presbyterian, God help him.
The Nazi's observations were totally unscientific and incorrect.
Aryans have between 2% to 6% Neanderthal DNA.
MVT: How robust is the procedure for picking the members of party political lists? That is the more fundamental question. Bryce Edwards has a good roundup of comments on the background to Aaron Gilmore tendering his resignation.
http://www.nzherald.co.nz/opinion/ne...ectid=10882842
It sounds like both major parties have a bit of a shortage of (good) candidates for their lists. How many people are prepared for the public scrutiny of their affairs in public and private life, for the possible maximum income of about $200k p.a., but with a huge amount of work, if they are to do it properly? They would need to be dedicated, driven, and maybe a bit egocentric.
Aaron Gilmore says he's going to reengineer his life after parliament, but with more humility and grace. I wish him well.
Now we can concentrate on the asset selldowns, the Sky Casino deal, the budget deficits.
Yes the Gilmore fiasco, as many before it, really questions the process of candidates selections for the lists . But it isn't limited to the big 2 parties. Just look at some of the people that have got in on Winston's (Horan et al) & Rodney's (Garrett) coat tails.
But agree with you EZ time to focus on real issues and the never ending good news stories coming out like the convention centre (triumphed by Labour's Len Brown as a great success), asset selldowns, reduced unemployment, budget surplus within reach, crime rates at lowest level in 30 years, 13000 new jobs created through 90 day trials, steady economic growth, low interest rates, 200,000 low income family homes insulated, 20 billion on infrastructure spending 2012-2015 (helped by proceeds for selldowns), $ 330 million cleaning up our polluted waterways. Its just never ending ;)
Winstone also brought in the guy (Andrew Williams) that got drunk and pissed on a tree in Takapuna. He didn't get nearly as much media attention as Gilmore has despite that fact he was Mayor at the time! (I think). He also didn't get voted in to his local seat for the local body elections but somehow made it into parliament.
Nationals plan seems to be going well with the economy seeming to pick up. It will be interesting to see if this gives them the tail wind they need for next year or if small thing like Gilmore or big thinks like disagreeing with policies that got them in last time (MoM) push thinks in Labour/Greens favour.
And it seems that we are about to witness a great mess appearing in the economy of the "lucky country" off our west coast. Maybe we could lend them some of our list MPs to get them through the crisis?
And don't forget Alamein Kopu of the Alliance Party. She was absolutely, hopelessly, and very visibly out of her depth so she in effect withdrew from Parliament except for occasionally and very briefly showing up to cast her vote for National to get back at Anderton for saying some nasty and obviously true things about her.
She was chosen because she was a woman, was Maori and came from the "right area". It was like having a quota for gay lefthanded whales which had to be filled.
All parties are too quick to pick someone perceived to be well known without bothering to check whether they have a gambling habit, drug addiction, beat their wives, have been fired from several jobs, have a criminal record, the IQ of a pinhead & &. It's sheer laziness and carelessness on the part of the party leaders and party hierarchies.
At least Alamein has been 100% successful at one thing - she managed to disappear without trace after dropping out of Parliament. Well done Alamein...
I have yet to disect the Sky City deal, but some of your other comments are too good to pass up on. Yes, unemployment is starting to drop back, but 13,000 part-time new or temporary jobs are only replacing those previously let go by the private sector. I admit that Labour trying to force employers to pay everyone the minimum wage no matter what their age, backfired. It was fair policy, but maybe employers are having more trouble than I thought, and we all know younger workers take a while to get going at a chargeable pace. 200,000 homes insulated, that would be the Greens policy - Tui mine clean-up complete, that would be the Greens and Helen Clark's government that ensured that was started and locked in before they left office.
Looks to me like National has decided a think-big infrastructure spend is the easiest way to make it look like things are heading in the right direction. There are a lot of trucks and equipment being sold around the place. I just hope their books can withstand higher interest rates, and any market downturn that affects the bond finance markets. Otherwise we're heading for the out-of-control area Muldoon took us to, a generation ago.
Just picking this one out. Isn't it good that a government can implement an opposition policy when it is the right thing to do. I wish there was more of this.
National needs to start talking about the age of super. Labour needs to start talking about interest free student loans. MMP is meant to be more collaborative but we still have a distinct left - right enemy attitude.
But in economic terms Muldoon was a socialist, to the left of Cullen and every Labour Party Finance Minister or spokesman since him.
He was an interventionist, a non stop stream of regulations and acts bringing everything under Government control. The NZ dollar was fixed, not floating and Muldoon intervened directly to set its level. The Reserve Bank was not independent but directly under Government control and Muldoon raised and lowered reserve ratios on finance companies and banks as to how much cash they had to keep at the Reserve Bank. His prime motivation was to avoid unemployment and he used to scrawl on Treasury proposals "No! This would cause too much unemployment!". There was no privatisation, quite the reverse. So if you are looking back to the most socialist Finance Minister pick Muldoon. Just as if National is seeking the most right wing Finance Minister pick Roger Douglas.
And if you are criticising Muldoon then you are criticising socialism in action.
I think now when the World is in a huge economic downturn is exactly the right time for Government to stimulate by spending on infrastructure. But like you, I am concerned about higher interest rates when they eventually come so we can agree that releasing equity from other assets such as gentailers to fund the necessary infrastructure projects (schools, hospitals, roads) is a good idea and will minimise the risk to Government of higher interest rates.
And now National will replace Gilmore with a Lesbian, Maori Solo mum. Yesterday Englebert Humperdink interviewed on the radio and one of his recent major hits is a song about a lesbian seagull. I'm getting too old for all this.
Except that these assets can be sold down only because they produce an income well above the cost of borrowing. So we'd be better off holding on to them. Far better to use the levers of power to motivate the SMEs and exporters to move into, or develop with their own capital, higher income areas. This would increase the tax and employment base. You can't do that while you're trimming costs in most areas and selling off state assets - well, not without looking like a hypocrite.
Craic, yes I noticed this, your only solace would be that National still has a way to go to catch up with Labour in the gay stakes..it takes all kinds.
We are. Financial management has been damn good in NZ, and these partial floats are part of getting us on track for the next few decades. A month or so in Europe will convince the sceptics. At least we will be able to expand our infrastructure and that is right out of the question for many economies. Besides I think some private shareholding in these companies is no bad thing - although ideally a couple could and should be sold outright to get some real competition in place.
You were always the wrong sex to be a lesbian Craic, let alone a lesbian seagull. And I note that Lesbian Civil Unions are turning over very rapidly, must be all the different positions they go through.
Yeah, but he never threatened to get the tree sacked.
For some rare, serious comment on this matter:
http://www.thecivilian.co.nz/aaron-g...e-billionaire/
There's a solid piece on the Skycity issue also :-)
http://www.thecivilian.co.nz/john-ke...ention-centre/
I'd never seen that website, cheers Warthog.
I'm sure Mr Gilmore's leaving speech will be summarised on TV tonight, could be interesting.
Richard Swainson, Waikato Times opinion writer, wrote today that it has perhaps taken Mr Gilmore to show the rest of NZ what is really behind National's policies. John Key might be an everyday-looking guy that we'd have a beer with, but the policies they produce are looking after the top echelon of the country.
The Skycity deal is a business deal, 12% return. But even better than that, it's a guaranteed return. For 35 years. The government gave them that, they were apparently the only business in NZ that deserved it. If Labour gets in next term and tries to increase the casino tax levy (Casinos pay sod-all out of their profits), or do anything else that might harm casino profits, then it would need to refund up to 100% of the $300mill Skycity is paying for the conference centre construction. Locked in at a reducing rate for 35 years. I assume they'll be gifted the land they need from the state, too. Winston Peters said that 96% of the customers at SkyCity will be NZers. They'll have the allure of another 270 slot machines and 40 gaming tables.
http://www.stuff.co.nz/business/indu...on-centre-deal
I had to work with problem gamblers from time to time in a previous life. All were serious gamblers who had defrauded employers, clubs and the like. They were a very interesting bunch. One, an accountant, gambled on football. He won $150,000 on one bet. the lot went on the sharemarket and he managed to lose every penny of it in a year by picking dogs, turning them over and picking more dogs I found this hard to believe but I had the details. There were many variations but the presence of slot machines or gambling tables doesn't mean diddley squat. they will always gamble. The idea that they are trying to get out of the pits by getting a big win is rubbish - the excitement appears to be playing the game.Remember the days when every pub had a bookie? Maybe we should close Auckland Airport because thats probably where most of the methamphetamine comes in and maybe a port or two?
Except that ports and airports have other major functions that are 99% of their operations. SkyCity caters mostly to gamblers and hopefully people having a small flutter occasionally. It has been shown several times in the press, that problem gamblers are not always screened from the machines and tables, even if self-banned.
I think the Convention Centre deal has John Key all over it. It's like a big market play. With conventions running next door, SkyCity can pick up many of the hotel stays, and in theory some of those guests will head off to the Casino. They have a deal there that makes it a no-brainer. But I would be interested in finding out what net taxes SkyCity pays the NZ Govt - I already know that the gaming tax levy for a casino (2.5%) is a much smaller percentage than the (37%) for smaller clusters spread around NZ.
Adelaide negotiated quite a different deal with Skycity.Quote:
Business approves of proposal that Opposition opposes
Dene Mackenzie — 15 May 2013
Business interests on Monday expressed their approval for the economic benefits the proposed $402 million international convention centre would bring to Auckland and New Zealand.
But the Labour, Green and New Zealand First political parties all expressed their opposition and concern about what effects the extra gambling concessions provided by the deal would bring.
The Government and SkyCity Entertainment signed an agreement to build the convention centre with SkyCity paying for the centre in exchange for concessions and an extension to its gambling operations.
Air New Zealand chief executive Christopher Luxton said the planned convention centre, with its capacity of 3,500, would allow NZ to compete to host larger conferences, providing access to a new market.
He said that as an airline based in New Zealand, which has relatively small volumes of business traffic, the conventions market is very important and one which the airline actively target in Australia, Asia and North America.
The 33,000 extra delegates a year the centre is predicted to attract is a significant increase,'' he said.
BusinessNZ chief executive Phil O'Reilly said New Zealand was currently lacking large convention infrastructure and the SkyCity development would result in new business, growth and jobs that would not otherwise have occurred.
“The partnership model that the Government and private sector are working together on for this facility is a good example of creativity and sound planning.”
Tourism New Zealand chief executive Kevin Bowler said convention centres anchored growth strategies for cities by providing for international and domestic business tourism.
An appropriately sized convention centre in Auckland would underpin the city's visitor growth aspirations.
Green Party co-leader Metiria Turei said it was not a free convention centre for Auckland.
“It will be built on the misery and suffering of families left to pick up the pieces from problem gambling. SkyCity has historically been inadequate in its response to responsibilities around problem gambling and money laundering. There is nothing in this agreement that requires them to do a better job.”
Labour leader David Shearer said the deal was dangerous and reckless because it tied future governments to a “dodgy deal.”
“This trades away the right of a future government to clamp down on problem gambling. It is wrong and it's not the way we do business in New Zealand.”
NZ First leader Winston Peters said SkyCity had been given preferential treatment from whoa to go and the Government had bent the immigration visa rules to deliver rich gamblers to the casino.
The Government is likely to move into urgency to pass legislation allowing building the convention centre in exchange for concessions to its gambling operations.
Economic Development Minister Steven Joyce announced the deal along with SkyCity chief executive Nigel Morrison and Auckland Mayor Len Brown.
Construction would start in 2014 with the facility expected to be open in 2017.
In a political twist, the agreement allows for SkyCity to be compensated if the Crown acted in a way to change the concessions listed in the Agreement. Urgency will ensure the Government has enough votes to pass the legislation by requiring its coalition partners to vote with the Government on the issue.
*Dene Mackenzie is business and political editor of the Otago Daily Times.
http://nz.sports.yahoo.com/news/skyc...224449484.html
Older good background on taxes and the deal, April 2012.
Years ago, a National MP stated privately that if MMP was voted in by the public, he was out of there. He did leave, couldn't stand it. I bet most National MPs don't like it much either. But that doesn't stop them voting to keep some of the worst clauses as is, if it gives them more chance of holding onto power in the next election.
http://www.3news.co.nz/No-MMP-change...9/Default.aspx
Just watched David Shearer on TV3 this morning. Am even more confused than normally after he speaks. Does this guy actually have a firm view or policy on anything at all ? Or is he all about silly soundbites and general balderdash ? I would worry if he was ever to become PM and sincerely hope Labour replace him before we eventually get the next Labour PM. Realistically they will probably have 2-4 leaders before they get back into Government so my concerns are probably unnecessary !
So what I take from these posts is that it doesn't matter how bad the National policies look, it's OK, because Labour doesn't have a top-notch frontman yet? I missed most of what Shearer said this morning, so can't comment on that. But when he does get passionate about an issue, he has no problem articulating it.
I think you're both right, every time he gets on camera from now on, Shearer has to do a better job of it. The elections are looming.
Unfortunately for some people, that is correct and therefore Labour should plan for it.
Some people look at policies though my guess is they are in the minority.
Also remember that (say) 80% of votes are predisposed to either left or right so it is only the 20% in the middle that you need to target. Thats why election bribes work so well as many dont actually look into the policy, they just take the sound bite from the leader and vote in their own self interest.
I see National starting to talk about lower cost housing etc, moving to capture the middle ground. The budget will also make some changes to R&D stimulus.
http://www.nzherald.co.nz/business/n...ectid=10883924
Of course, us Nelsonians lent Nick Smith to Auckland to start fixing their problems and they welcomed him with open arms and billboards. He has got stuck in to make a difference like he does with everything he touches.
Today's Budget will be interesting as it should indicate which issues National would like to be next year's election issues. The economy and housing obviously their top 2 choices. Interesting to see how Tony Ryall has kept health out of focus and even education has gone quiet !
More good news http://www.nzherald.co.nz/business/n...ectid=10884050
From the article:
"The expansion in New Zealand contrasts with a slide in Australia, with the two countries this year experiencing the two largest monthly differences in activity levels since the New Zealand measure began in 2002. In Australia, the April index was at 36.7, its lowest result since May 2009."
From the article:
Is it possible to have a boom in NZ while Aus moves into a recession, or are we so dependent on Aus that eventually we will be pulled down as well?
Well they've been in office for over 4.5 years, and they're only just thinking about cheaper housing and R&D rejigging now, with another big asset selldown to come - manufacturing is trending down, unemployment trended up, budget deficits hit record levels, just what have they set in place here FP? Where is the brighter future we were promised?
Banksie which article says manufacturing has gone up.
"The BNZ-BusinessNZ performance of manufacturing index rose 1.1 to 54.5 in April from March. That's its highest April level since 2010. A reading above 50 indicates expanding activity, while a reading below 50 implies a contraction. The index has averaged 54.8 so far this year, suggesting healthy and consistent activity, BusinessNZ said."
Or am I misunderstanding the article?
Banksie as the article says the average for this year is 15.8 it appears it has actually come down with the report of 15.5
Iceman read Banksie's post 1440. That is why I asked him to post his source
Do you mean 54.8 and 54.5? Anything above 50 shows expanding manufacturing. 54.5 for April (the highest since 2010) and 54.8 for YTD. Yes, April is lower than the YTD average but is this not just due to month on month differences, ie. April is always lower than Jan - Mar? I cannot find anything in the article that points towards manufacturing trending down.
Iceman, yes, still with planet Labour. While NZ's budget will be the envy of many other countries, let's not forget that National started from a strong balance sheet in 2008, and three Labour terms set that up. Over 50% of businesses would like to see R&D tax credits returned. Because National booted that idea out as soon as they got in, they can't do that policy exactly, but they have made moves in the R&D area, I've yet to check out the changes properly. I concede these should be a move in the right direction. 4 years late though.
In the absence of a strong and increasing tax base to fund increasing domestic costs and repairs to infrastructure, National has had to selldown some of our most highly prized state assets, to be able to afford the necessary new infrastructure without blowing the predicted budget balance in 2015. This doesn't imply the National team are economic geniuses does it?
Comparison with the Aussie budget and situation.Quote:
Budget surplus - but in the margin of error
Dene Mackenzie — 17 May 2013
The New Zealand Government remains on track to record a budget surplus in 2015 though, at $75 million, the surplus remains in the margin of error territory.
Finance Minister Bill English yesterday delivered his fifth Budget which was in major contrast to many around the world, including Australia.
For many, budgets are all about severe austerity programmes which suffocate growth and lead to outrageous offsetting measures by central banks.
The New Zealand Budget was more a case of business as usual with some acknowledgement that any government stimulus would be unwelcome as it might heighten the risk the Reserve Bank might raise interest rates.
BNZ senior economist Craig Ebert said there were not many Western world governments forecasting a surplus any time in the near future.
“Admittedly, the surplus forecast is very much a line-ball call and you wouldn't want to bet your life on it but, frankly, we are not worried whether the actual outcome is a small positive or a small negative,” he said.
“The overall stance represents a broadly balanced budget and that's good enough for now.”
English announced some significant policy shifts which were largely ignored by Opposition MPs. Among what will become one of the most controversial is a change in State housing policy which will see it called “social housing” and allow private providers into the market.
All State house tenants will be subject to a tenancy review and that could see longer-term tenants moved into privately-owned rental accommodation, with some appropriate accommodation allowances.
Micro lending to low-income earners with high debt will be encouraged through the Government talking to non-government organisations (NGOs) and private lenders.
The Government will use its buying power to purchase bulk whiteware for low-income earners who borrow from the micro-lenders. Instead of continually buying second-hand appliances that breakdown and have to replaced, increasing the debt for low-income earners, new appliances with guarantees will be available.
More money is being poured into the Christchurch rebuild with the Government lifting its commitment by $2.1 billion in the Budget to $15 B of the $40 B total.
The Reserve Bank now has some extra tools to try and cool any credit boom. House buyers may have to fund up to 20% of the deposit of a new home rather than the current 5% to 10%.
It is hard to recall a previous Budget where there has been such a lack of commentary. Apart from a few releases from the political parties, and two from trade unions, reaction has been very muted.
Labour and the Greens resorted to cliche criticism with New Zealand First leader Winston Peters at least trying to land a hit on the Government regarding the lack of jobs it has created since 2011.
There was not much for financial markets to get excited about in the Budget. The Government confirmed Meridian Energy would be partially sold down and floated on the New Zealand Stock Exchange (NZX) later this year.
Last year, the partial sale of the largest of the SOEs was expected to raise $3.2 B, making it the largest float in NZ's history.
Research and development received a boost in both funding and the ability to write off some losses.
Economists said there was little to be excited about on any front. But that was exactly what was heartening about the Budget. Bill English said it was about spending well, not spending up large. A Government should be judged on the quality of its spending, not its quantity.
In saying that, English did lift the allowable spending this year by $100 M to $900 M and next year, allowable spending will go to $1 B.
*Dene Mackenzie is business and political editor of the Otago Daily Times.
Strong balance sheet in 2008? Excluding blowing all the cash to buy a failing railway,I'm sure pretty much everyone in the OECD can think of something that severly dented every world economy around then.
Great to see a sensible budget in times when sensibility is required. Can't of been too bad as the only the hardened lunatics on the left are complaining,and not very loud at that. I loved the complaint about there being nothing for middle NZ. Middle NZ is smart enough to see getting to surplus and the paying down debt in the "household" is the way forward.
Labour left government with a strong balance sheet BUT living well beyond their means after an extremely strong economic period. Going into the GFC and then Christchurch would have seen a worse balance sheet that we have seen under National unless they raised taxes. Raising taxes would have taken more money out of the economy and hit the business owners who employ people the most (trickle down theory isn't perfect but it does work to some extent).
Good to see the return of R&D credits. Hopefully it is a lot simpler to apply for than under Labour. Agree that National went to far in removing them as this is our future. To combat Key's "Wellington is dying" we need to change it from a government/Head office hub to a tech hub so more R&D is needed.
A couple of points on SOE sales coming out of the budget:
- I cant remember exact figures but even with the asset sales, assets owned by the government is expect to grow from ~$250B -> $260B. The SOE's are hardly material.
- As has been pointed out, selling assets when you can borrow at ~3% is a tough argument. Part of the economic support is that the sale will boost our capital markets (ie. down stream effects). With all the other IPO's expected this year, this argument has to be diminished.
I personally think it will be a hard sell to get Genesis away next year though I am biased as I think the Govt should retain 100% ownership of one of the Power co's. Genesis being small and environmentally friendly seems the perfect one to retain.
Banksie if you go to the top of the hill and start to come down. You are not still going up. No matter what university theory says. You are definitely higher than your start point but you are still going down.
If I punctuate your post to read what I presume you mean, this is what I get.
"Banksie, if you go to the top of the hill and start to come down you are not still going up, no matter what university theory says. You are definitely higher than your start point but you are still going down."
Now I'm scratching my head trying to work out how, if you start going down, you will be 'definitely higher than your start point'.
Attachment 4524
Looking at PMI since Nov 2008 - seems like an uptrend to me.
[Edit] well not much of an up - I certainly wouldn't be buying this share - but it is clearly not trending down.
BusinessNZ takes the opposite tack of MEA as far as endorsing all the current govt policies, it would be interesting to see their opinion too. That chart you provided has skilfully chopped off the LHS, which would show that in 2007 they had the same sort of numbers that they've now reached. When I say "they" that means the data from the companies associated with the right-leaning BusinessNZ who bothered to fill out the survey in each month. There is no backup to this qualitative data, i.e. the survey size, the error margins. Just because stock levels have been eroded and now new stock is needed for each order that comes in, is not that great a scenario. Getting back to the right sort of area, yes maybe.
Here is an interesting opinion EZ http://www.stuff.co.nz/business/indu...ck-star-status
Yes, that's interesting. That Cameron Bagrie is doing a tour around NZ with that spiel, was in Cambridge recently with the same good news, and that the really good developments in NZ's economy appear to have occurred in the last 3-4 years, i.e. since National got back in. I'm just taking a punt here, that Cameron votes National, and is doing his bit to put a bit of spin on the results achieved so far.
elZorro or is he after a safe national seat at the next election. My regard & opinion of Cameron Bagrie has gone down rapidly since the last election. In my opinion he has become very biased.
Maybe he's been biased for quite a while.
http://www.epmu.org.nz/news/show/59302
Not that I agree with CB, but the Empu is one of the most biassed outfits around. I, and others I work with left when they donated our union fees to labour for their campaign two elections ago. Disgraceful.
Surely not all the fees, just some? Wouldn't that be a pretty reasonable place to send some funds on behalf of a large group of employees?
Here's another columnist who is more openly supporting National - Fran O'Sullivan.
http://www.nzherald.co.nz/opinion/ne...ectid=10884375
One of the comments down below from Scotty:
Quote:
I doubt Australian companies even noticed that National might meet their notional target of' budget surplus'. Its meaningless, a slogan that will be repeated endlessly by Key and O Sullivan in the run up to the election.
National , Act and the business elite are deluded if they think borrowing $300mil a week to carry on as usual is a winning strategy.
My wife pays her fees to the teacher's union and a large amount of that goes to Labour. She never gets asked if that's what she wants to do with the Union funds. Maybe you think it is "reasonable place to send employees funds" EZ, but why not let the union members have a say where they want their money spent !
Good old socialists eh http://www.nzherald.co.nz/world/news...ectid=10884504
Argentina is not far behind !
Why would anyone pay much attention to an economist working for an aussie bank? His only interest must be to further the banks profits.
Whether the interests of the people of NZ coincide with the quest for more profit for the bank is open to debate.
Westerly
If all unions combined only manage to donate $120,000 to the Labour party a year, by my reckoning that would be well under 10c per worker per year. There would be some supporters of National who could donate a fair chunk of that amount without even blinking. The difference might be that workers on PAYE have already certainly paid at least 20% of all their main income to the govt.
http://www.nzherald.co.nz/nz/news/ar...ectid=10779910
Perhaps I should disclose that because I feel the Labour Party is on the right track for NZ in general, I donate small amount each month. Amongst all my other expenses, it's negligible.
Just some Sunday Humour. An old boss, head of a local Govt office (Justice Dept., was very anally inclined and when he heard that Caxtons, or whoever supplied toilet paper to Depts., were about to have a strike, he immediately ordered a vast quantity of toilet paper. He got his full quota and for a couple of years every space in the office was packed with boxes of the stuff. The strike didn't happen but an earlier boss was even worse. He was freaked by a petrol drivers strike in Wellington so decided on a trip to inspect the provinces. He took a departmental utility with two forty-four gallon drums on the back to fill up here in Hawkes Bay. When I met him with his roughly four-hundred litres of petrol, I was able to tell him that the strike was over. The moral is, vote for National and you will never have to worry about toilet paper or petrol again.
That money was from the estate of Brian Dalley, $430,000. He was a property investor. Who obviously liked Labour's policies. Even with this generous one-off gift, National still headed off Labour for funds donated last year ($775,000 compared to about $700,000). Both parties usually receive more money in election years. But in perspective, this is all small beer for 4.5mill inhabitants.
http://www.stuff.co.nz/national/poli...arty-donations
Sorry for late reply. In Hanoi for ho chi minhs birthday celebration(ok,i just happened to be here). Why should any worker give any money to a party they do not support? Labour used to be the party of the workers but is more the party of those that choose not to work.
Fair enough, it's hard to tell if it was oversight or misunderstanding of the new rules, or a stalling tactic to disclose. In any case Labour seem to be getting everything tidied up well before the election.
National is doing some sorting out as well. John Campbell grilled Mr Brownlee and the EQC CEO tonight, about the gaps in progress in Christchurch home repairs. A lot of people looked to be under severe pressure, I'm not sure they'll get too many votes there.
National recently passed a new bill under urgency, the result of a court case that found families are entitled to be paid for the care of their relatives, alongside external carers. National found a way to herald that in the budget, even though they watered down the court findings.
Parents are not going to be paid to look after their own disabled children, until they are adults, they will then be paid less than an external carer by the look of it, and they are not to be paid to look after a spouse. National also played a mean trick in that they added a clause stopping any court claim to test the new law under the Bill of Rights. The Waikato Times editor noted that:
"The public has been ill-served by each Government MP whose vote pushed the bill through all stages of law-making in one shameful day."
A law professor provides the scary details in his blog.
Maybe some of us feel that it a fair responsibility for families to look after their own with maybe a bit of help. It isn't a bloody job!
I most certainly think so with the latest ideas about providing free breakfasts in schools, without any evidence that it actually fixes anything where it has been tried. It is families' responsibility to feed their children, not Governments. Cullen brought out Working For Families a few years back redistributing money to make life easier for lower and middle income families. And now we have this breakfast idea. What next, Government provided lunches ?
It reminds me of the TV3 article on Budget day when they were talking about how little the Budget provided for child poverty, so they talked to a young Mum (early 30s I guess) with 6 children and pregnant with twins, about how difficult life is. I think I the viewer was supposed to feel sorry for her !