Winston peters to his legion of retiree support base: Here's 2 bucks, don't spend it all at once.
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Winston peters to his legion of retiree support base: Here's 2 bucks, don't spend it all at once.
Yeah, but pretty underwhelming.
Minimum wage worker will get $12.50 a week extra. Wow.
I think my wife and I will get $20 a week each. Wow.
I said before that I think tax cuts are not wise because they were always going to have to scale whatever they thought they were going to do back once they got into govt and saw how bad things were.
With rising costs etc, these tax cuts don't even scratch the surface. But they had to do it because it is political (not the right thing). They campaigned on it and Willis said she would resign if she didn't deliver tax cuts.
So they save $14B sacking people (good, we need to reduce out of control spending), they give those savings back to the people with these p1ss willy tax cuts that are not going to make anyone better off, and then are going to borrow another $12B to fund various projects.
Hmmmmmmn.
I know I am no genius, but something just doesn't add up here!
A terrific budget said economist Brad Olsens co commentator on 1zb.
It's stable economic management .
If they didn't give landlords a tax cut they could give pensioners something more. I wonder how much it will cost in administration to implement this change of... 2 bucks into the bank account of every pensioner (why bother).
The increase to Health spending was a surprise. The increase to the visitor tax is a surprise too, since they opposed its introduction. Hopefully the income tax cuts will help boost the economy, as the recession was worse than previously thought.
It is a pity that the budget deficit is widening, and the forecast for a surplus has been postponed for a year. That would have received National Party criticism, if they were not in government! However a slightly more stimulatory budget may have been needed.
On the whole, I think it was OK.
Not great, not terrible.
https://www.youtube.com/watch?v=w-YDV6vC2qo
What we really needed was some kind of plan to turn the NZ situation around. Lots of problems remain unaddressed particuarly in housing and infrastructure.