Just to clarify, I think the Nats are a terrible government.
I just think these comparisons are fucking stupid.
An alternative (devils advocate) analysis as evidenced by electoral results is the country supports Labour when we have money to spend, and National when times are tough and we need more prudent managers of the economy.
True enough. The UK would have a similar comparison if you compared the Blair/Brown Labour Government to the last five years under the stewardship of the Conservatives. The point being the general populous (or at lease the significant part that decides elections) has the view that Labour left the finances of the State in a mess and that is why the right leaning parties come in to fix it up.
Not the case in NZ.
When National took over we had had a series of black budgets under Labour.
How much of the financial crisis has been compounded by the ‘austerity’ measures.
If governments stop spending the economy grinds down.
Yet we don’t have “prudent managers”. Instead we have Nationals pork barrel politics. An ardent desire to turn this country into a banana republic. A satellite state to be sucked dry by the increasingly desperate USA.
don’t forget the earthquake saw an injection of $2-5bn into our economy from an outside source (re-insurers) which helped with stimulus in Christchurch which wouldn’t have been there without an earthquake.
Of more interest to me is the lampooning of the allegedly economically illiterate Green contenders for male co-leader for not knowing the current rate of inflation but no such lampooning for master of economic management, Bill English for
“Finance Minister Bill English says he does not know what effect the new rules on taxing capital gain on residential properties and new disclosure rules from non-resident buyers will have on the rising Auckland property market. ”
Either he is worse than the Greens (upon whom expectations of economic literacy are lower than English) or it was so ruched it has no background upon which to predict impact.
Christchurch earthquake equals 40 billion dollars of extra work paid for by insurance companies equals extraordinary item gift for G D P figures.
Nationals performance would be even worse without the Christchurch disaster!
GDP is an utterly hopeless measure of how any government is leading an economy. And are we really back to banging the drum of moar economic growth = better? What about sustainability using a steady state economy?
To be fair I think GDP is fairly rubbish too, but these things are what the Nats say are important, so if they can’t get those right…
As Robert Kennedy put it – GDP measures all but that which we hold most dear. But other measures of economic “success” are a whole lot more difficult. If you try and factor environmental and social factors in there as well it gets worse.
But that doesn’t mean we shouldn’t try.
At the very least they should measure GDP per capita growth – simple and means you can’t fudge the figures by just adding people.
But really you want to measure the change in total capital – environmental, social as well as economic. So if you dig up all the oil & coal and sell it off, and leave the environment a mess you take into account that the country doesn’t have the oil/coal to sell again and also that the lower living standards people have from the degraded environment ie you take into account the losses, not just the profits from selling natural resources.
But yeah, the banners are merely measuring National by their own standards – and with their own simplicity.
I can see the point of hoisting the NATs up on their own petard, but really all Labour is doing is reaffirming to the electorate that Labour buys into the same orthodox economic ethos – more growth is good, more GDP is good, running surpluses are good.
I think that for most people the banner make sense.
X amount under red
x amount under blue
done.
This is how people vote. Remeber? National the fiscally responsible party that will make all our lives betterer than it was under the nanny state when Labour was at the helm?
Well National pretend the GFC did not happen all the time, every time they say Labour left the country with a decade of deficits. Do you criticise them too?
I am not blaming National for a decade of deficits due to the GFC.
I am blaming National and Bill English for pretending that they could and would achieve a surplus, that things will get betterer to win an election instead of being honest and saying it’s not gonna happen because of a. b. c.
I am blaming National for spending money on a flag change when we are out of money.
I am blaming National for spending money on troops against Isis.
I am blaming National for spending money on vanity projects while ignoring the needs of the country.
They ran on their fiscal responsibilty and their financial savy and promised a surplus, better raises etc etc. Now they get to eat crow, and frankly they should.
the have heeped scorn and abuse on so many of our most vulnerable members of society, i think it is just fair that some of us actually hold them accountable.
“”I am blaming National and Bill English for pretending that they could and would achieve a surplus, that things will get betterer to win an election instead of being honest and saying it’s not gonna happen because of a. b. c.””
I don’t think national have ever really cared if they hit surplus , but its been a terrific excuse to slash services and screw down on the poor.
Sabine. High five! I first went right off key (although even then thought he was a incompetent tosser) when they spent so much money on the gg residence. I have heard 40ml but stand to be corrected as this amount seems to be exorbitant. Wonder who got the contract?
Since then the list goes on. Money for 1% nothing for us losers.
“Since our forecasts were finalised at the end of August, there have been further developments in the global financial crisis, particularly in the US. These developments increase the downside risks to these forecasts.”
“Growth is forecast to be positive in the final quarter of 2008 thanks to the recovery from the drought and tax cuts, but will remain subdued throughout most of 2009 as negative influences continue to affect the economy. As the world economy recovers, the domestic economy picks up and inflation and monetary conditions ease, growth will return above trend later in the forecast period, driven initially by increased exports (Figure 1.1). With economic activity forecast to be lower than in the Budget Update, core Crown tax revenue is expected to be $3,148 million lower in aggregate over the next four years.”
In reading the Executive Summary and other parts of the PREFU it seems to me that global economic conditions (referred to as the ‘global financial crisis’) are repeatedly mentioned as an important contributing factor in their forecasts.
I agree that domestic “imbalances” are also mentioned as ‘unwinding’ – but the GFC is a big part of predicted reductions in growth and therefore tax revenues and increases in spending (on benefits, Kiwisaver, etc.).
You mean like Labour criticising National for the deposit guarantee scheme that Labour set up?
I bought a whole lot of shares in 2007. They plummeted disastrously under Labour, and have gone up significantly and continuously ever since National came to power.
But I’d have to be an idiotic simpleton on par with bunji to think that was solely down to who was in power.
So are you saying that bunji and the entire front bench of the National Party should be criticised for drawing ridiculous conclusions on who should be to blame for certain events?
I haven’t heard the whole front bench of National blaming Labour for the global financial crisis.
There were plenty of Labour candidates last election blaming National for running deficits while they ran surpluses – effectively ignoring that the GFC ever happened. But obviously the voting public saw the ridiculous comparisons for what they were.
If you want votes, first you have to be seen as living in the real world – not a delusional one.
Labour always get greater per capita GDP than the bought party. The bought party always has a bunch of Quislings like you lining up to shift the blame, and then you pretend to be into personal responsibility.
Que? National trots the “its all Labour’s fault every chance it gets”.
Labour does not blame National for the GFC. It criticises National for making unattainable promises to get the books black into credit, for giving tax cuts to the wealthy the country cannot afford, for selling off our profitable assets and for having no growth strategy apart from more dairy. National can be blamed for continuously running deficits for the fact that it gave unaffordable tax cuts.
Average 3.7% GDP growth over nine years of Lab5, against National’s record. This is in line with New Zealand history. Hardly surprising when you consider that unemployment is always higher under National.
Still you don’t seem to grasp the facts: under all economic conditions experienced thus far, annual per capita gdp growth is lower when the Masters of Finance occupy the Treasury benches.
This time, your excuse is the GFC, and, poppet, the GFC didn’t force the Masters of Finance to slash government revenue.
Why is it that when it comes to analysing Labour’s economic performance there was no GFC but when it comes to National’s economic performance there is nothing but GFC.
The Labour years were BEFORE the GFC so it’s pretty obvious why it’s not linked to Labours performance.
[I get tired with RWNJs saying that the decade of deficits was because of Labour decisions and not because of the GFC. For your information the GFC started in 2007 and in 2008 Clark and co were in full adaption mode. Post another idiot comment where you deny this without pristine proof and I will start to treat you as a troll – MS]
MS says “I get tired with RWNJs saying that the decade of deficits was because of Labour decisions and not because of the GFC.”
Time to get reading lessons, or some new glasses –
I said “The deficits are because of the GFC, and would have been there regardless of whether Labour or National was in power.”
And you really think the GFC had and impact on the growth and debt stats under Labour before it even happened (which is 90% of the period under discussion).
The deficit aren’t “because” of the GFC, John, the deficits are there because NZ’s economy is fragile, unbalanced, and undiversified. The deficits also continue because National is both visionless and gutless, combined with typical right wing short term opportunism.
But since you don’t understand anything about real economics, it never occurred to you that this was the case.
Because of the GFC –
– other countries buy fewer of our products, so there’s less tax on company profits
– fewer workers are required to make those products, so there’s less paye
– the (now unemployed) workers have less to spend, so there’s less gst
– less tourists come from countries suffering from the GFC, so they spend less, and the whole cycle continues in the tourism sector with less gst, less company profits, fewer workers, less paye.
– and significantly more spent on benefits
And you don’t think the deficit is caused by the GFC. Yeah right.
you’re not paying attention, John. The GFC is but one external environmental factor. Its the internal factors that successive governments have fucked up, creating a narrow economy which lacks depth and diversity. Open your eyes.
When ALL your overseas clients are suffering from the GFC and EVERY company in EVERY country slashes their spending budgets, it doesn’t matter what you produce .
as usual, wrong again. If National truly believe that, they should stop wasting our oxygen, fuck off, and let people who can make a real difference for ordinary NZers take charge.
The whole idea of government running a surplus is absurd. I would far prefer that households and SMEs run the surplus instead of the Crown – i.e. that ordinary people get to have a decent income, get to save more, get to run their businesses at a profit.
No mate – it goes to competence. Bill English promised surpluses – cannot deliver them – not just once or twice but seven times in a row. The non-delivery of surpluses by Bill has become a statistical certainty.
Labour wants to run deficits it just doest know it yet. I have been explaining this to you for weeks now and you said the issue was lying, not that deficits were a problem (which they are not). Are you revising that position?
Modern Labour tends to want to run the economy on Kensian lines. When things are good stash money away. When things are bad open up the purse strings.
The last Labour Government was happy to start spending. There was a plan to have a mini budget at the end of 2008 if they were reelected. I am not disagreeing with you.
I am disagreeing with John’s claim that the decade of deficits was because of the fifth Labour Government. And it irks that he suggests that National should be cut some slack because of the GFC but not Labour.
mickeysavage says “I am disagreeing with John’s claim that the decade of deficits was because of the fifth Labour Government. ”
I think you’re arguing against something that I never said.
The deficits are because of the GFC, and would have been there regardless of whether Labour or National was in power.
In the 2000s, New Zealand was spending 115% of what it earned, every year, year after year.
That is a totally unsustainable position and where Labour stuffed up was they didn’t do a thing about it.
Under Labour private debt skyrocketed 166% from $60b to $160b, and they didn’t do a thing to stop massive house price inflation, not just in Auckland as is the case now, but across the other 70% of houses as well.
What did Labour do to stop it? Nothing.
At least this govt has tightened up on claiming depreciation, speculators, LAQCs, low deposit loans, bigger bank reserves etc.
“The Labour years were BEFORE the GFC so it’s pretty obvious why it’s not linked to Labours performance.”
Disagreed. The GFC started during Labour’s term. The GFC had everything to do with the downturn and the “decade of deficits”.
“The deficits are because of the GFC, and would have been there regardless of whether Labour or National was in power.”
Disagreed. National’s “fiscally neutral” tax cuts basically sucked a billion dollars out of the state’s books each year. There would have been deficits for a while but they have been much worse because of National’s tax cuts.
Crown control over private debt? FFS when we suggested people should use eco friendly light bulbs there was hell to pay. Blaming us for not strong arming people into borrowing less is a bit rich.
John’s comment was dead on to begin with. There would have been similar sized deficits regardless if labour was elected. Labour needs to explain why the deficits are necessary and stop playing a game of irrelevant political football with the constant carping on about what they could get away with before the GFC.
Mickey – Labour didn’t so much as lift a finger while they watched a housing bubble caused by skyrocketing debt, and a country spending 115% of what it earned every year.
The current govt has put in place numerous measures to curtail private debt and housing bubbles.
And Labour complains it’s not enough.
Which makes your weak excuses for not doing anything look hollow and hypocritical.
theres no need for the government to “stash money away for a rainy day.”
Why would there ever be a need for the government to stash away electronic ones and zeroes that it can enter by keyboard any time that it wants to? How on earth do you “stash” digital digits, anyway?
The “real world”? Don’t make me laugh John. I agree that the NATs needed to deficit spend, but their lack of a credible long term vision for NZ has been shocking. Under their leadership NZ does all it can to stumble from year to year with no cohesive long term economic planning.
I am not defending the current government’s record by any means! What I am criticising is this clap trap language that infers deficits are inherently bad and that running surpluses are inherently good. This is implied in the language Labour has used and indeed campaigned on and in this original post.The fact that Labour ran a series of surpluses is not in itself good or bad. Classical and neo-Keynsian economic theory argues that governments should build surpluses when the economy thrives and run deficits when the economy is struggling.
IF the current regime claim there has been no serious economic crisis post GFC it should be moving towards and running surpluses. We know this isn’t true so we should expect them to run deficits and indeed we should encourage it. We might want to argue over what it is being spent on, of course, but my basic point remains.
Conversely, IF the previous Labour regime were running surpluses during economic upswings, this should be expected and encouraged. However, IF they were running surpluses during economic recession, they should be admonished.
The point is, simply comparing Labour’s surplus record juxtaposed to the Nat’s deficit record, devoid of economic context, is disingenuous at worst, and plain ignorant at best
In fact Labour weren’t too hot economically either – little realised growth in terms of capacity or productivity, few to no new jobs, little effort to address problems like housing or the balance of payments, much less winding back the employment ‘reforms’ of the black decade.
But they were basically competent, unlike the screaming heap that National is. Solid Energy is a fair analogy for National’s management of the economy – they wrecked it without even making a profit.
We still have one of the lowest unemployment rates in the western world because National have held off on implementing austerity and govt debt reduction measures.
Massaged numbers – tightening Winz policies and lies about ‘the lowest ever unemployment rate’ that anyone alive in the 1980s knows were patently false.
Clue: what’s wrong is not that people are doing well.
What’s wrong is that many people are struggling, hungry, homeless.
How much was your student loan, and how much were your training/course fees?
How much were the “voluntary” fees your parents shelled out to your school?
What about your parents – did they get any assistance, or a state house?
Or are you one of the infintesimally small few people who earn well over the average wage while having zero qualifications?
I’m wondering if the reason why 3 million Kiwis don’t earn $70k, live in central Ak etc. is that we live a world that requires mass poverty and unemployment in order for the economy to function so that people like you can be the exception to the rule.
I was suspicious of the high level of emissions attributed to NZ livestock lately.
I’ve just come across figures for 2003 – 2013 contending that, globally, fossil fuels and cement accounted for,on average, about 8.6 Gt or 92% of anthropogenic carbon emissions per year and land use accounted for about 0.8Gt or 8% per year.
Disagree with this line of thinking. There is no reason fossil fuel use must track GDP growth. The government should invest in employing people to create a sustainable economy. If it does this on a large enough scale then it’s quite possible for GDP to grow and the economy to become sustainable (with lower energy use) at the same time.
On the other hand if the government wants to cause a recession or depression then it’s going to be unpopular and they will quickly be out of office. That will be curtains for plans to move onto a sustainable path no doubt.
The economy is not going to by itself onto a sustainable path. The government must intervene and buy up outputs towards it.
As for growing an economy while aiming for sustainability…from these six eggs I have, I want to make an omelet while wanting for six chicks to hatch.
Meanwhile,most of the western world is being plunged into recession and depression, in part, due to policies pursuing austerity. Those governments haven’t been kicked out and ,in fact, have been re-elected.
Sorry, that kind of thinking doesn’t cut it. Explain why if you have some sustainability policy (say reforestation) the government can’t pay for it to happen.
The government can pay for such things. That’s not a biggie.
But if you want a growing economy, then that means more production and consumption. And that’s profit driven, not ‘lets be nice to the environment’ driven. If you find that objectionable (as I do) then you’ll have no option but to adopt a market abolitionist position.
Then, with the profit motive gone, we can look at steady state or ‘environmentally mindful’ economic models.
Closer but you are not there yet. GDP has three main components, consumption, investment and government spending. So growing GDP does not mandate growing consumption. Also not all consumption is a measure of physical consumption it also counts service spending and all kinds of sustainable consumption. There is no solid link between growth of GDP and growth of the physical demands of that economy. In considering how to deal with this issue there also needs to be a distinction between markets with and without government intervention including regulation for socially desirable outcomes.
Closer but you are not there yet. GDP has three main components, consumption, investment and government spending. So growing GDP does not mandate growing consumption. Also not all consumption is a measure of physical consumption it also counts service spending and all kinds of sustainable consumption. There is no solid link between growth of GDP and growth of the physical demands of that economy. In considering how to deal with this issue there also needs to be a distinction between markets with and without government intervention including regulation for socially desirable outcomes.
No, including energy use tracking with GDP. If you think of an alternative real economy (a sustainable one) then the payments for that can obviously be arranged in essentially any manner. Arguing that it has to be that way then is also claiming there is no real alternative economy possible. The fact Fossil fuel use tracks GDP is just a coincidence due to the world running a non-sustainable economy but that can change.
It’s also not true for many countries but industrial production being sent offshore is a large component of that, so it’s not a clear cut example.
Claims about science fictions and utopia as side, I was discussing with Bill how to grow GDP while shrinking the ecological footprint of the economy. When he says that we must first abolish markets and first instate some other (yet to be defined) system he is the person advocating for inaction.
Paid work (and profits) is a powerful incentive and should be used to take action on climate change now.
At the end of the day the only answer I can see is for a fifteen to twenty year war-time like effort to move NZ 90% off fossil fuels and also towards autarky in strategic areas. We will burn a lot of fossil fuels and consume a lot of resources in the process to do so – but at least they will be available at this time.
After this next fifteen year window passes, it’ll be too late to do anything more than localised/regional makeshift initiatives to try and make life survivable and decent.
National is 1/10 towards what is needed. Labour is 3/10 towards what is needed. The Greens are 3.5/10 towards what is needed.
Ah well, currently those are the choices we have been given.
Bunji your first post is focusing on the wrong issue, your second on the right issue. Government spending adds directly to GDP by accounting so if the deficit was lower in any of the last seven years then GDP would also have been lower by the exact same amount. Yes if labour wants to grow GDP at a decent rate in future they will need to run a significant deficit for many years.
The reality is the neo liberal policies embraced by new Labour and National have led to this mess. They are both culpable for the misery people endure.
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Bryce Edwards writes – Is another Green MP on their way out? And are the Greens severely tarnished by another integrity scandal? For the second time in three months, the Green Party has secretly suspended an MP over integrity issues. Mystery is surrounding the party’s decision to ...
For the last few years, the Green Party has been the party that has managed to avoid the plague of multiple scandals that have beleaguered other political parties. It appears that their luck has run out with a second scandal which, unfortunately for them, coincided with Golraz Ghahraman, the focus ...
TL;DR: The six newsey things that stood out to me as of 6:46am on Saturday, March 16.Andy Foster has accidentally allowed a Labour/Green amendment to cut road user chargers for plug-in hybrid vehicles, which the Government might accept; NZ HeraldThomas CoughlanSimeon Brown has rejected a plea from Westport ...
What seemed a booming success a couple of years ago has collapsed into fraud convictions.I looked at the crash of FTX (short for ‘Futures Exchange’) in November 2022 to see whether it would impact on the financial system as a whole. Fortunately there was barely a ripple, probably because it ...
Anybody following the situation in Ukraine and Russia would probably have been amused by a recent Tweet on X NATO seems to be putting in an awful lot of effort to influence what is, at least according to them, a sham election in an autocracy.When do the Ukrainians go to ...
TL;DR:Shaun Baker on Wynyard Quarter's transformation. Magdalene Taylor on the problem with smart phones. How private equity are now all over reinsurance. Dylan Cleaver on rugby and CTE. Emily Atkin on ‘Big Meat’ looking like ‘Big Oil’.Bernard’s six-stack of substacks at 6pm on March 15Photo by Jeppe Hove Jensen ...
Buzz from the Beehive Finance Minister Nicola Willis had plenty to say when addressing the Auckland Business Chamber on the economic growth that (she tells us) is flagging more than we thought. But the government intends to put new life into it: We want our country to be a ...
The Transport and Infrastructure Committee has reported back on the Road User Charges (Light Electric RUC Vehicles) Amendment Bill, basicly rubberstamping it. While there was widespread support among submitters for the principle that EV and PHEV drivers should pay their fair share for the roads, they also overwhelmingly disagreed with ...
Peter Dunne writes – This week’s government bailout – the fifth in the last eighteen months – of the financially troubled Ruapehu Alpine Lifts company would have pleased many in the central North Island ski industry. The government’s stated rationale for the $7 million funding was that it ...
See if you can spot the difference. An Iranian born female MP from a progressive party is accused of serial shoplifting. Her name is leaked to the media, which goes into a pack frenzy even before the Police launch an … Continue reading → ...
Ele Ludemann writes – The government is omitting general Treaty references from legislation : The growth of Treaty of Waitangi clauses in legislation caused so much worry that a special oversight group was set up by the last Government in a bid to get greater coherence in the public service on Treaty ...
What was that judge thinking?Peter Williams writes – That Golriz Ghahraman and District Court Judge Maria Pecotic were once lawyer colleagues is incontrovertible. There is published evidence that they took at least one case to the Court of Appeal together. There was a report on ...
TL;DR: My top 10 news and analysis links this morning include:Today’s must-read:Climate Scorpion – the sting is in the tail. Introducing planetary solvency. A paper via the University of Exeter’s Institute and Faculty of Actuaries.Local scoop:Kāinga Ora starts pulling out of its Auckland projects and selling land RNZ ...
Wellington’s massively upzoned District Plan adds the opportunity for tens of thousands of new homes not just in the central city (such as these Webb St new builds) but also close to the CBD and public transport links. Photo: Lynn Grieveson / The KākāTL;DR: Wellington gave itself the chance of ...
It’s Friday and we’re halfway through March Madness. Here’s some of the things that caught our attention this week. This Week in Greater Auckland On Monday Matt asked how we can get better event trains and an option for grade separating Morningside Dr. On Tuesday Matt looked into ...
Something you might not know about me is that I’m quite a stubborn person. No, really. I don’t much care for criticism I think’s unfair or that I disagree with. Few of us do I suppose.Back when I was a drinker I’d sometimes respond defensively, even angrily. There are things ...
Photo: Lynn Grieveson / The KākāTL;DR: The five things that mattered in Aotearoa’s political economy that we wrote and spoke about via The Kākā and elsewhere for paying subscribers in the last week included:PM Christopher Luxon said the reversal of interest deductibility for landlords was done to help renters, who ...
It was not so much the Labour Party but really the Chris Hipkins party yesterday at Labour’s caucus retreat in Martinborough. The former Prime Minister was more or less consistent on wealth tax, which he was at best equivocal about, and social insurance, which he was not willing to revisit. ...
Buzz from the BeehiveThe text reproduced above appears on a page which records all the media statements and speeches posted on the government’s official website by Melissa Lee as Minister of Media and Communications and/or by Jenny Marcroft, her Parliamentary Under-secretary. It can be quickly analysed ...
For forty years, Robert Muldoon has been a dirty word in our politics. His style of government was so repulsive and authoritarian that the backlash to it helped set and entrench our constitutional norms. His pig-headedness over forcing through Think Big eventually gave us the RMA, with its participation and ...
Bryce Edwards writes – Is the new government reducing tax on rental properties to benefit landlords or to cut the cost of rents? That’s the big question this week, after Associate Finance Minister David Seymour announced on Sunday that the Government would be reversing the Labour Government’s removal ...
Saudi Arabia is rarely far from the international spotlight. The war in Gaza has brought new scrutiny to Saudi plans to normalise relations with Israel, while the fifth anniversary of the controversial killing of Jamal Khashoggi was marked shortly before the war began on October 7. And as the home ...
Questions need to be asked on both sides of the worldPeter Williams writes – The NRL Judiciary hands down an eight week suspension to Sydney Roosters forward Spencer Leniu , an Auckland-born Samoan, after he calls Ezra Mam, Sydney-orn but of Aboriginal and Torres Strait ...
Ele Ludemann writes – Contrary to what many headlines and news stories are saying, residential landlords are not getting a tax break. The government is simply restoring to them the tax deductibility of interest they had until the previous government removed it. There is no logical reason ...
I can't remember when it was goodMoments of happiness in bloomMaybe I just misunderstoodAll of the love we left behindWatching our flashbacks intertwineMemories I will never findIn spite of whatever you becomeForget that reckless thing turned onI think our lives have just begunI think our lives have just begunDoes anyone ...
Michael Bassett writes – At first reading, a front-page story in the New Zealand Herald on 13 March was bizarre. A group of severely intellectually limited teenagers, with little understanding of the law, have been pleading to the Justice Select Committee not to pass a bill dealing with ram ...
How much political capital is Christopher Luxon willing to burn through in order to deliver his $2.9 billion gift to landlords? Evidently, Luxon is: (a) unable to cost the policy accurately. As Anna Burns-Francis pointed out to him on Breakfast TV, the original ”rock solid” $2.1 billion cost he was ...
TL;DR: My top 10 news and analysis links this morning include:Today’s must-read:Jonathon Porritt calling bullshit in his own blog post on mainstream climate science as ‘The New Denialism’.Local scoop:The Wellington City Council’s list of proposed changes to the IHP recommendations to be debated later today was leaked this ...
TL;DR:Prime Minister Christopher Luxon said yesterday tenants should be grateful for the reinstatement of interest deductibility because landlords would pass on their lower tax costs in the form of lower rents. That would be true if landlords were regulated monopolies such as Transpower or Auckland Airport1, but they’re not, ...
This is a re-post from Yale Climate Connections by Tom Toro Tom Toro is a cartoonist and author. He has published over 200 cartoons in The New Yorker since 2010. His cartoons appear in Playboy, the Paris Review, the New York Times, American Bystander, and elsewhere. Related: What 10 EV lovers ...
The business section of the NZ Herald is full of opinion. Among the more opinionated of all is the ex-Minister of Transport, ex-Minister of Railways, ex MP for Auckland Central (1975-93, Labour), Wellington Central (1996-99, ACT, then list-2005), ex-leader of the ACT Party, uncle to actor Antonia, the veritable granddaddy ...
Hi,Just quickly — I’m blown away by the stories you’ve shared with me over the last week since I put out the ‘Gary’ podcast, where I told you about the time my friend’s flatmate killed the neighbour.And you keep telling me stories — in the comments section, and in my ...
The first season of Rings of Power was not awful. It was thoroughly underwhelming, yes, and left a lingering sense of disappointment, but it was more expensive mediocrity than catastrophe. I wrote at length about the series as it came out (see the Review section of the blog, and go ...
Buzz from the Beehive Workplace Relations and Safety Minister Brooke van Velden told Auckland Business Chamber members they were the first audience to hear her priorities as a minister in a government committed to cutting red tape and regulations. She brandished her liberalising credentials, saying Flexible labour markets are the ...
Chris Trotter writes – TO UNDERSTAND WHY NEWSHUB FAILED, it is necessary to understand how TVNZ changed. Up until 1989, the state broadcaster had been funded by a broadcasting licence fee, collected from every citizen in possession of a television set, supplemented by a relatively modest (compared ...
Bob Edlin writes – The Māori Party has been busy issuing a mix of warnings and threats as its expresses its opposition to interest deductibility for landlords and the plans of seabed miners. It remains to be seen whether they follow the example of indigenous litigants in Australia, ...
The Government has accepted Labour’s change to the Road User Charge (RUC) discount for hybrid vehicles, meaning there will still be some incentive for people to buy greener vehicles. ...
Kicking the most vulnerable people out of state housing and pushing them towards homelessness will result in a proliferation of poverty and trauma across our most vulnerable communities. ...
Te Pāti Māori co-leader and MP for Waiariki, Rawiri Waititi has penned a letter asking MPs to support his members bill to remove GST from all food. The bill is expected to go through its first reading in parliament this Wednesday. “I’m calling on all political parties to support my ...
This year is about getting real with Kiwis and discussing the tough issues, as the National Government exacerbates inequality and divides New Zealand, Labour Leader Chris Hipkins said ...
The Government adding Significant Natural Areas (SNAs) to its already roaring environmental policy bonfire is an assault on the future of wildlife that makes Aotearoa unique. ...
After 12 years of fighting to protect our moana we are finding ourselves back at square one and back at court. Today, the Environmental Protection Agency is sitting in Hawera to reconsider an application from Trans-Tasman Resources to dig up 50 million tonnes of the seabed in South Taranaki. This ...
Minister Shane Jones’ decision to step away from a seabed mining project is evidence of the murky waters surrounding the Government’s fast-track legislation. ...
The growth of Treaty of Waitangi clauses in legislation caused so much worry that a special oversight group was set up by the last government in a bid to get greater coherence in the publicservice on Treaty matters. When ministers first considered the need for tighter oversight in 2021, there ...
The growth of Treaty of Waitangi clauses in legislation caused so much worry that a special oversight group was set up by the last government in a bid to get greater coherence in the publicservice on Treaty matters. When ministers first considered the need for tighter oversight in 2021, there ...
The Coalition Government’s miscalculation saga continues as it has forgotten an eyewatering $90 million gap in its interest deductibility cost figures, say Labour Finance spokesperson Barbara Edmonds and Revenue Spokesperson Deborah Russell. ...
He Pou a Rangi Climate Change Commission has today released advice that says if the Government doesn’t act now New Zealand is at risk of not meeting its climate goals. ...
The Coalition Government has today confirmed it is abandoning first home buyers who are struggling to get ahead, says Labour Finance spokesperson Barbara Edmonds. ...
The New Zealand public voted for a change in direction at the 2023 general election and that is exactly what this coalition government has been delivering in its first 100 days. There was an immediate focus on the economy, easing the cost of living, cracking down on law and order ...
The Government has left the health system as an afterthought, announcing half-baked targets at the last minute of their 100-day plan, says Labour Health spokesperson Ayesha Verrall. ...
Kiwis are still waiting for their promised cost of living support after 100 days of a National Government that is taking us backwards, Labour Leader Chris Hipkins said today. ...
The National Government has spent its first 100 days stopping, cutting and reversing. They have scrapped stuff for stuff for the sake of it, without putting up any solutions of their own – and it’s hardworking New Zealanders who will pay for it. ...
100 days of National taking NZ backwardsThe National Government has spent its first 100 days stopping, cutting and reversing. They have scrapped stuff for stuff for the sake of it, without putting up any solutions of their own – and it’s hardworking New Zealanders who will pay for it. ...
The Government must commit to funding free and healthy school lunches, as thousands of people sign the petition to keep them, education spokesperson Jan Tinetti says. ...
If the Government was serious about moving families into public housing, they would build more houses so there is actually somewhere for people to go. ...
The free and healthy school lunches programme feeds our kids, helps them to learn, and saves families money – but it is at risk under this Government, education spokesperson Jan Tinetti said. ...
The Government’s proposed changes to Firearms Prohibition Orders (FPO) add almost nothing new and are merely an attempt to distract from its plans to loosen gun laws, police spokesperson Ginny Andersen and justice spokesperson Dr Duncan Webb said. ...
The great Victorian era English politician Lord Macauley stood in the British House of Parliament and said, "The gallery in which the reporters sit has become a fourth estate of the realm".He understood and outlined even way back then, the significant role and influence media have in a democracy. ...
The government’s attack on Māori health this week is committing tangata-whenua to a premature death, says Te Pāti Māori. “The government have begun their onslaught on Māori health with the abolishment of the Māori Health Authority and smokefree laws in the same day” said health spokesperson and co-leader, Debbie Ngarewa-Packer. ...
"The Government is moving quickly to realise an additional $46 million in tariff savings in the EU market this season for Kiwi exporters,” Minister for Trade and Agriculture, Todd McClay says. Parliament is set, this week, to complete the final legislative processes required to bring the New Zealand – European ...
New Zealand’s social workers are qualified, experienced, and more representative of the communities they serve, Social Development and Employment Minister Louise Upston says. “I want to acknowledge and applaud New Zealand’s social workers for the hard work they do, providing invaluable support for our most vulnerable. “To coincide with World ...
Cabinet has agreed to a reduced road user charge (RUC) rate for plug-in hybrid electric vehicles (PHEVs), Transport Minister Simeon Brown says. Owners of PHEVs will be eligible for a reduced rate of $38 per 1,000km once all light electric vehicles (EVs) move into the RUC system from 1 April. ...
Minister of Agriculture and Trade, Todd McClay, says that today’s opening of Riverland Foods manufacturing plant in Christchurch is a great example of how trade access to overseas markets creates jobs in New Zealand. Speaking at the official opening of this state-of-the-art pet food factory the Minister noted that exports ...
Minister of Foreign Affairs Winston Peters met with Chinese Foreign Minister Wang Yi in Wellington today. “It was a pleasure to host Foreign Minister Wang Yi during his first official visit to New Zealand since 2017. Our discussions were wide-ranging and enabled engagement on many facets of New Zealand’s relationship with China, including trade, ...
Kāinga Ora – Homes & Communities has been instructed to end the Sustaining Tenancies Framework and take stronger measures against persistent antisocial behaviour by tenants, says Housing Minister Chris Bishop. “Earlier today Finance Minister Nicola Willis and I sent an interim Letter of Expectations to the Board of Kāinga Ora. ...
Tēna koutou katoa. Greetings everyone. Thank you to the Auckland Chamber of Commerce and the Honourable Simon Bridges for hosting this address today. I acknowledge the business leaders in this room, the leaders and governors, the employers, the entrepreneurs, the investors, and the wealth creators. The coalition Government shares your ...
Minister Winston Peters completed the final leg of his visit to South and South East Asia in Singapore today, where he focused on enhancing one of New Zealand’s indispensable strategic partnerships. “Singapore is our most important defence partner in South East Asia, our fourth-largest trading partner and a ...
Minister of Internal Affairs and Workplace Relations and Safety, Hon. Brooke van Velden, will travel to the Republic of Korea to represent New Zealand at the Third Summit for Democracy on 18 March. The summit, hosted by the Republic of Korea, was first convened by the United States in 2021, ...
ICNZ Speech 7 March 2024, Auckland Acknowledgements and opening Mōrena, ngā mihi nui. Ko Andrew Bayly aho, Nor Whanganui aho. Good morning, it’s a privilege to be here to open the ICNZ annual conference, thank you to Mark for the Mihi Whakatau My thanks to Tim Grafton for inviting me ...
Prime Minister Christopher Luxon and Lead Coordination Minister Judith Collins have expressed their deepest sympathy on the five-year anniversary of the Christchurch terror attacks. “March 15, 2019, was a day when families, communities and the country came together both in sorrow and solidarity,” Mr Luxon says. “Today we pay our respects to the 51 shuhada ...
Speech for Financial Advice NZ Conference 5 March 2024 Acknowledgements and opening Morena, Nga Mihi Nui. Ko Andrew Bayly aho, Nor Whanganui aho. Thanks Nate for your Mihi Whakatau Good morning. It’s a pleasure to formally open your conference this morning. What a lovely day in Wellington, What a great ...
Foreign Minister Winston Peters held discussions in Jakarta today about the future of relations between New Zealand and South East Asia’s most populous country. “We are in Jakarta so early in our new government’s term to reflect the huge importance we place on our relationship with Indonesia and South ...
Deputy Prime Minister and Minister of Foreign Affairs Winston Peters has announced that the Foreign Minister of China, Wang Yi, will visit New Zealand next week. “We look forward to re-engaging with Foreign Minister Wang Yi and discussing the full breadth of the bilateral relationship, which is one of New Zealand’s ...
Transport Minister Simeon Brown has today opened the new Auckland Rail Operations Centre, which will bring together KiwiRail, Auckland Transport, and Auckland One Rail to improve service reliability for Aucklanders. “The recent train disruptions in Auckland have highlighted how important it is KiwiRail and Auckland’s rail agencies work together to ...
The Government is proud to support the 10th edition of Crankworx Rotorua as the Crankworx World Tour returns to Rotorua from 16-24 March 2024, says Minister for Economic Development Melissa Lee. “Over the past 10 years as Crankworx Rotorua has grown, so too have the economic and social benefits that ...
Legislation implementing coalition Government tax commitments and addressing long-standing tax anomalies will be progressed in Parliament next week, Finance Minister Nicola Willis says. The legislation is contained in an Amendment Paper to the Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Bill issued today. “The Amendment Paper represents ...
Associate Environment Minister Andrew Hoggard has today announced that the Government has agreed to suspend the requirement for councils to comply with the Significant Natural Areas (SNA) provisions of the National Policy Statement for Indigenous Biodiversity for three years, while it replaces the Resource Management Act (RMA).“As it stands, SNAs ...
Agriculture Minister Todd McClay has classified the drought conditions in the Marlborough, Tasman, and Nelson districts as a medium-scale adverse event, acknowledging the challenging conditions facing farmers and growers in the district. “Parts of Marlborough, Tasman, and Nelson districts are in the grip of an intense dry spell. I know ...
The Government is helping farmers eradicate the significant impact of facial eczema (FE) in pastoral animals, Agriculture Minister Todd McClay announced. “A $20 million partnership jointly funded by Beef + Lamb NZ, the Government, and the primary sector will save farmers an estimated NZD$332 million per year, and aims to ...
Foreign Minister Winston Peters has completed a successful visit to India, saying it was an important step in taking the relationship between the two countries to the next level. “We have laid a strong foundation for the Coalition Government’s priority of enhancing New Zealand-India relations to generate significant future benefit for both countries,” says Mr Peters, ...
Cabinet has agreed to provide $7 million to ensure the 2024 ski season can go ahead on the Whakapapa ski field in the central North Island but has told the operator Ruapehu Alpine Lifts it is the last financial support it will receive from taxpayers. Cabinet also agreed to provide ...
Health Minister Dr Shane Reti says the launch of a new mobile breast screening unit in Counties Manukau reinforces the coalition Government’s commitment to drive better cancer services for all New Zealanders. Speaking at the launch of the new mobile clinic, Dr Reti says it’s a great example of taking ...
Health Minister Dr Shane Reti says the launch of a new mobile breast screening unit in Counties Manukau reinforces the coalition Government’s commitment to drive better cancer services for all New Zealanders. Speaking at the launch of the new mobile clinic, Dr Reti says it’s a great example of taking ...
Unlocking economic growth and land for housing are critical elements of the Government’s plan for our transport network, and planned upgrades to State Highway 29 (SH29) near Tauriko will deliver strongly on those priorities, Transport Minister Simeon Brown says. “The SH29 upgrades near Tauriko will improve safety at the intersections ...
Unlocking economic growth and land for housing are critical elements of the Government’s plan for our transport network, and planned upgrades to State Highway 29 (SH29) near Tauriko will deliver strongly on those priorities, Transport Minister Simeon Brown says. “The SH29 upgrades near Tauriko will improve safety at the intersections ...
Lower fruit and vegetable prices are welcome news for New Zealanders who have been doing it tough at the supermarket, Finance Minister Nicola Willis says. Stats NZ reported today the price of fruit and vegetables has dropped 9.3 percent in the 12 months to February 2024. “Lower fruit and vege ...
Tēnā koutou katoa and greetings to you all. Chair, I am honoured to address the sixty-eighth session of the Commission on the Status of Women. I acknowledge the many crises impacting the rights of women and girls. Heightened global tensions, war, climate related and humanitarian disasters, and price inflation all ...
Tēnā koutou katoa and greetings to you all. Chair, I am honoured to address the 68th session of the Commission on the Status of Women. I acknowledge the many crises impacting the rights of women and girls. Heightened global tensions, war, climate related and humanitarian disasters, and price inflation all ...
The coalition Government is supporting farmers to enhance land management practices by investing $3.3 million in locally led catchment groups, Agriculture Minister Todd McClay announced. “Farmers and growers deliver significant prosperity for New Zealand and it’s vital their ongoing efforts to improve land management practices and water quality are supported,” ...
Good evening everyone and thank you for that lovely introduction. Thank you also to the Honourable Simon Bridges for the invitation to address your members. Since being sworn in, this coalition Government has hit the ground running with our 100-day plan, delivering the changes that New Zealanders expect of us. ...
Recommendations from the Climate Change Commission for New Zealand on the Emissions Trading Scheme (ETS) auction and unit limit settings for the next five years have been tabled in Parliament, Climate Change Minister Simon Watts says. “The Commission provides advice on the ETS annually. This is the third time the ...
The coalition Government is beginning its fight to lower building costs and reduce red tape by exempting minor building work from paying the building levy, says Building and Construction Minister Chris Penk. “Currently, any building project worth $20,444 including GST or more is subject to the building levy which is ...
Proposed changes to tax legislation to prevent the over-taxation of low-earning trusts are welcome, Finance Minister Nicola Willis says. The changes have been recommended by Parliament’s Finance and Expenditure Committee following consideration of submissions on the Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Bill. “One of the ...
Assalaamu alaikum. السَّلَام عليكم In light of the holy month of Ramadan, I want to extend my warmest wishes to our Muslim community in New Zealand. Ramadan is a time for spiritual reflection, renewed devotion, perseverance, generosity, and forgiveness. It’s a time to strengthen our bonds and appreciate the diversity ...
Former Transport Minister and CEO of the Auckland Business Chamber Hon Simon Bridges has been appointed as the new Board Chair of the New Zealand Transport Agency (NZTA) for a three-year term, Transport Minister Simeon Brown announced today. “Simon brings extensive experience and knowledge in transport policy and governance to the role. He will ...
Good morning all, it is a pleasure to be here as Minister of Science, Innovation and Technology. It is fantastic to see how connected and collaborative the life science and biotechnology industry is here in New Zealand. I would like to thank BioTechNZ and NZTech for the invitation to address ...
Regional Development Minister Shane Jones says he is looking forward to the day when three key water projects in Northland are up and running, unlocking the full potential of land in the region. Mr Jones attended a community event at the site of the Otawere reservoir near Kerikeri on Friday. ...
Associate Finance Minister David Seymour has today announced that the Government has agreed to restore deductibility for mortgage interest on residential investment properties. “Help is on the way for landlords and renters alike. The Government’s restoration of interest deductibility will ease pressure on rents and simplify the tax code,” says ...
Sport and Recreation Minister Chris Bishop will travel to Switzerland today to attend an Executive Committee meeting and Symposium of the World Anti-Doping Agency (WADA). Mr Bishop will then travel on to London where he will attend a series of meetings in his capacity as Infrastructure Minister. “New Zealanders believe ...
Source: The Conversation (Au and NZ) – By Deborah Lupton, SHARP Professor, Vitalities Lab, Centre for Social Research in Health and Social Policy Centre, and the ARC Centre of Excellence for Automated Decision-Making and Society, UNSW Sydney kitzcorner/Shutterstock The assertion from Queensland’s chief health officer John Gerrard that ...
Source: The Conversation (Au and NZ) – By Peter Martin, Visiting Fellow, Crawford School of Public Policy, Australian National University Shutterstock Why are musicians so keen to get played on the radio? It can’t be because of the money. In Australia they are paid at rates so low they ...
"Farmers make a point not to tell our urban cousins how to live, yet Chlöe from central Auckland is hell-bent on having her say about farmers," says ACT Rural Communities spokesman Mark Cameron. “On her first day in the House as Green ...
Analysis by Dr Bryce Edwards – Democracy Project (https://democracyproject.nz)Political scientist, Dr Bryce Edwards. It’s been a tumultuous time in politics in recent months, as the new National-led Government has driven through its “First 100 Day programme”. During this period there’s been a handful of opinion polls, which overall just ...
Source: The Conversation (Au and NZ) – By Tim Curran, Associate Professor of Ecology, Lincoln University, New Zealand Getty Images/Gerald Corsi In the latest move to reform environmental laws in New Zealand, the coalition government has introduced a bill to fast-track consenting processes for projects deemed to ...
Uber has argued it does not have as much control over drivers as the unions suggest, and wants a judgment ruling that drivers are employees and not contractors set aside and sent back to the Employment Court. The 2022 ruling followed a three-week hearing in which four drivers sought to ...
What can and can’t be purchased by disabled people or their carers has been slashed in an effort by the Ministry of Disabled People Whaikaha to save money. The purchasing guidelines, a set of rules that sets out what can be purchased using the various streams of Government disability funding, ...
The Treasury has published today a new Analytical Note by Tod Wright and Hien Nguyen, Fiscal incidence in New Zealand: The effects of taxes and benefits on household incomes in tax year 2018/19 . Analyses of the distributional impact of taxation and government ...
The Treasury has published today a new Analytical Note by Cory Davis, Boston Hart and Benjamin Stubbing, Household cost-of-living impacts from the Emissions Trading Scheme and using transfers to mitigate regressive outcomes . This Analytical Note ...
A coalition of public transport and climate organisations, united as ‘Transport for All’, is actively opposing the government’s transport proposals. The draft Government Policy Statement (GPS) includes plans for higher fares for public transport, ...
Greater Wellington is inviting feedback on proposed changes to its Revenue and Financing Policy. The Revenue and Financing Policy covers the Council’s various sources of funding, and how the cost of services is shared across the region. This includes ...
Labour has conceded it could have done more to deal with disruptive state housing tenants while in government but says the current coalition is going too far. ...
The band has asked their record label to issue a cease and desist to stop the NZ First leader using their 1997 hit to support his ‘misguided political views’. “I get knocked down, but I get up again,” blared through the speakers on Sunday as Winston Peters took the stage ...
By Lydia Lewis, RNZ Pacific journalist Food rationing is underway in remote areas in Papua New Guinea’s Highlands following torrential rain and flash flooding. More than 20 people have been reported dead in Chimbu Province. In nearby Enga Province, the centre of last month’s massacre, a 15-year-old boy has been ...
Source: The Conversation (Au and NZ) – By Andrew Hughes, Lecturer, Research School of Management, Australian National University After months of debate and intrigue, the AFL’s 19th and newest team, the Tasmania Devils, finally launched its jumper, logo and colours in Devonport this week. The Devils will wear green, ...
Brannavan Gnanalingam reviews the debut novel by Saraid de Silva.One of the most baffling things for children who move to a new country is what their parents’ (or grandparents’) lives were like prior to moving – for kids in particular, they’re too busy trying to fit in in their ...
Source: The Conversation (Au and NZ) – By Stephen Gaunson, Associate Professor in Cinema Studies, RMIT University Narelle Portanier/Binge “If you don’t know who your mob are, you don’t know who you are,” Detective Andrea “Andie” Whitford (played by Leah Purcell) is told early into the new crime ...
Source: The Conversation (Au and NZ) – By Elise Klein, Associate professor, Australian National University It’s commonly accepted that women do the vast majority of caregiving in Australian society. But less appreciated is that Indigenous women do larger amounts of unpaid care than any other group. Working with the Aboriginal ...
Source: The Conversation (Au and NZ) – By Adrian Beaumont, Election Analyst (Psephologist) at The Conversation; and Honorary Associate, School of Mathematics and Statistics, The University of Melbourne Joe Biden and Donald Trump have both secured their parties’ nominations for the November 5 United States general election by winning a ...
Comment: There has been a striking contrast in trans-Tasman interest about Chinese foreign minister Wang Yi’s visit to New Zealand and Australia. While the Australian press has been full of articles about the visit – including his curious decision to meet with former prime minister and China booster Paul Keating ...
After years of pressuring banks and other institutions to stop investing in fossil fuels, climate campaigners are making some progress. So how does divestment work?For years, climate activists have been pushing banks and other big institutions to divest from fossil fuels. New research from climate advocacy group 350 Aotearoa ...
For Boba, Ethan and Ashley, K-pop is a place to belong, a way to express themselves, and a bridge to connect with others. The three young Polynesians are part of a K-pop fan community in Tāmaki Makaurau. It’s one of many that have sprung up worldwide as K-pop has gone ...
For Boba, Ethan and Ashley, K-pop is a place to belong, a way to express themselves, and a bridge to connect with others. This one-off documentary presents three intimate portraits of young Polynesians who are pulled into a Korean cultural phenomenon. K-POLYS is directed by Litia Tuiburelevu, Produced by Hex ...
There’s ample evidence demonstrating free school lunch programmes provide wide benefits across schools, households and communities according to public health researchers. ACT Minister David Seymour wants to reduce the spending on Aotearoa New Zealand’s ...
By Wata Shaw in Suva Fiji is facing an exodus of Fijians as many are leaving for overseas seeking employment and education and others are migrating, says Opposition MP Viliame Naupoto. Speaking in Parliament, he said: “His Excellency’s speech (Ratu Wiliame Katonivere) comes after a little over one year of ...
The Taxpayers’ Union is welcoming comments from Christopher Luxon this morning recommitting to ‘no new taxes’ as part of Budget 2024. “Mr Luxon’s refusal at the Post-Cabinet press conference yesterday to repeat the ‘no new taxes’ promise ...
SAFE is urgently calling on the Environment Committee to reject the Government’s Fast-Track Approvals Bill, and is urging New Zealanders to rally behind the call. The proposed Bill, currently under consideration with the Environment select committee, ...
Teammates who spend all their time picking fights with spectators are only helpful for the other team, writes Madeleine Chapman. Anyone who has ever played a team sport competitively, particularly as a child and particularly, for some reason, basketball, will know that there’s a lot of politics involved. While there ...
The long-running Wellington music festival is too focused on the Jim Beam-ness and not enough on the Homegrown-ness.There is something about Homegrown that’s difficult to place. A barely perceptible-ness. Like feeling a ghost is watching you from the corner of the room but when you look, there’s nothing there. ...
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Booming world economy v GFC & Christchurch Earthquake….
Just to clarify, I think the Nats are a terrible government.
I just think these comparisons are fucking stupid.
An alternative (devils advocate) analysis as evidenced by electoral results is the country supports Labour when we have money to spend, and National when times are tough and we need more prudent managers of the economy.
True enough. The UK would have a similar comparison if you compared the Blair/Brown Labour Government to the last five years under the stewardship of the Conservatives. The point being the general populous (or at lease the significant part that decides elections) has the view that Labour left the finances of the State in a mess and that is why the right leaning parties come in to fix it up.
Not the case in NZ.
When National took over we had had a series of black budgets under Labour.
How much of the financial crisis has been compounded by the ‘austerity’ measures.
If governments stop spending the economy grinds down.
Yet we don’t have “prudent managers”. Instead we have Nationals pork barrel politics. An ardent desire to turn this country into a banana republic. A satellite state to be sucked dry by the increasingly desperate USA.
don’t forget the earthquake saw an injection of $2-5bn into our economy from an outside source (re-insurers) which helped with stimulus in Christchurch which wouldn’t have been there without an earthquake.
Of more interest to me is the lampooning of the allegedly economically illiterate Green contenders for male co-leader for not knowing the current rate of inflation but no such lampooning for master of economic management, Bill English for
“Finance Minister Bill English says he does not know what effect the new rules on taxing capital gain on residential properties and new disclosure rules from non-resident buyers will have on the rising Auckland property market. ”
Either he is worse than the Greens (upon whom expectations of economic literacy are lower than English) or it was so ruched it has no background upon which to predict impact.
You seem to be forgetting the global recession that was in the middle of the last 7 years.
In NZ, Labour governments have always achieved greater per capita GDP than their National contemporaries.
You always have an excuse. It’s lame. Where’s the personal responsibility?
So you’re saying US$42,000 GDP per capita (NZ in 2013) is LESS than US$31,000 GDP per capita (in 2007).
Cherry picking years and currencies? Are your physical characteristics as reminiscent of dogshit as your arguments?
Christchurch earthquake equals 40 billion dollars of extra work paid for by insurance companies equals extraordinary item gift for G D P figures.
Nationals performance would be even worse without the Christchurch disaster!
GDP is an utterly hopeless measure of how any government is leading an economy. And are we really back to banging the drum of moar economic growth = better? What about sustainability using a steady state economy?
To be fair I think GDP is fairly rubbish too, but these things are what the Nats say are important, so if they can’t get those right…
As Robert Kennedy put it – GDP measures all but that which we hold most dear. But other measures of economic “success” are a whole lot more difficult. If you try and factor environmental and social factors in there as well it gets worse.
But that doesn’t mean we shouldn’t try.
At the very least they should measure GDP per capita growth – simple and means you can’t fudge the figures by just adding people.
But really you want to measure the change in total capital – environmental, social as well as economic. So if you dig up all the oil & coal and sell it off, and leave the environment a mess you take into account that the country doesn’t have the oil/coal to sell again and also that the lower living standards people have from the degraded environment ie you take into account the losses, not just the profits from selling natural resources.
But yeah, the banners are merely measuring National by their own standards – and with their own simplicity.
‘their own simplicity’….heh
Exactly Bunji. They fail according to their own criteria.
I can see the point of hoisting the NATs up on their own petard, but really all Labour is doing is reaffirming to the electorate that Labour buys into the same orthodox economic ethos – more growth is good, more GDP is good, running surpluses are good.
I think that for most people the banner make sense.
X amount under red
x amount under blue
done.
This is how people vote. Remeber? National the fiscally responsible party that will make all our lives betterer than it was under the nanny state when Labour was at the helm?
That is what people voted for.
This deserves an award for brainless idiocy.
Because only a brainless idiot would would make a comparison of the years before and after the global financial crisis, and pretend it didn’t happen.,
Well National pretend the GFC did not happen all the time, every time they say Labour left the country with a decade of deficits. Do you criticise them too?
Well they do it too.
Great comeback MS
And just to be clear the decade of deficits was projected pre GFC
Um are you sure about this? Link please. My recollection is that the “decade of deficits” was announced in 2008 after the start of the GFC.
Not pre “start” of GFC, pre “full effects” of GFC.
I could have been clearer.
My point is the PREFU did not lay the blame for the decade of deficits on the GFC so why would you expect the Nats to when there is an easier target.
(Jeepers, I can’t believe I am in here defending Bill English)
then don’t.
I am not blaming National for a decade of deficits due to the GFC.
I am blaming National and Bill English for pretending that they could and would achieve a surplus, that things will get betterer to win an election instead of being honest and saying it’s not gonna happen because of a. b. c.
I am blaming National for spending money on a flag change when we are out of money.
I am blaming National for spending money on troops against Isis.
I am blaming National for spending money on vanity projects while ignoring the needs of the country.
They ran on their fiscal responsibilty and their financial savy and promised a surplus, better raises etc etc. Now they get to eat crow, and frankly they should.
the have heeped scorn and abuse on so many of our most vulnerable members of society, i think it is just fair that some of us actually hold them accountable.
“”I am blaming National and Bill English for pretending that they could and would achieve a surplus, that things will get betterer to win an election instead of being honest and saying it’s not gonna happen because of a. b. c.””
I don’t think national have ever really cared if they hit surplus , but its been a terrific excuse to slash services and screw down on the poor.
Sabine. High five! I first went right off key (although even then thought he was a incompetent tosser) when they spent so much money on the gg residence. I have heard 40ml but stand to be corrected as this amount seems to be exorbitant. Wonder who got the contract?
Since then the list goes on. Money for 1% nothing for us losers.
“the PREFU did not lay the blame for the decade of deficits on the GFC”
Are you sure?
In the PREFU section on ‘Weaker Growth as Global Economy Adjusts to imbalances’ there is this comment:
“Since our forecasts were finalised at the end of August, there have been further developments in the global financial crisis, particularly in the US. These developments increase the downside risks to these forecasts.”
And in this section it is stated that:
“Growth is forecast to be positive in the final quarter of 2008 thanks to the recovery from the drought and tax cuts, but will remain subdued throughout most of 2009 as negative influences continue to affect the economy. As the world economy recovers, the domestic economy picks up and inflation and monetary conditions ease, growth will return above trend later in the forecast period, driven initially by increased exports (Figure 1.1). With economic activity forecast to be lower than in the Budget Update, core Crown tax revenue is expected to be $3,148 million lower in aggregate over the next four years.”
In reading the Executive Summary and other parts of the PREFU it seems to me that global economic conditions (referred to as the ‘global financial crisis’) are repeatedly mentioned as an important contributing factor in their forecasts.
I agree that domestic “imbalances” are also mentioned as ‘unwinding’ – but the GFC is a big part of predicted reductions in growth and therefore tax revenues and increases in spending (on benefits, Kiwisaver, etc.).
The structural decade of deficits lie is one of Gosman’s most pathetic fictions.
V: I’ve not come for what you hoped to do. I’ve come for what you did.
Labour did not deliver deficits. Bill English did.
You mean like Labour criticising National for the deposit guarantee scheme that Labour set up?
I bought a whole lot of shares in 2007. They plummeted disastrously under Labour, and have gone up significantly and continuously ever since National came to power.
But I’d have to be an idiotic simpleton on par with bunji to think that was solely down to who was in power.
So are you saying that bunji and the entire front bench of the National Party should be criticised for drawing ridiculous conclusions on who should be to blame for certain events?
I haven’t heard the whole front bench of National blaming Labour for the global financial crisis.
There were plenty of Labour candidates last election blaming National for running deficits while they ran surpluses – effectively ignoring that the GFC ever happened. But obviously the voting public saw the ridiculous comparisons for what they were.
If you want votes, first you have to be seen as living in the real world – not a delusional one.
Labour always get greater per capita GDP than the bought party. The bought party always has a bunch of Quislings like you lining up to shift the blame, and then you pretend to be into personal responsibility.
If you ask me, you’re lying trash.
Que? National trots the “its all Labour’s fault every chance it gets”.
Labour does not blame National for the GFC. It criticises National for making unattainable promises to get the books black into credit, for giving tax cuts to the wealthy the country cannot afford, for selling off our profitable assets and for having no growth strategy apart from more dairy. National can be blamed for continuously running deficits for the fact that it gave unaffordable tax cuts.
It’s funny when people backing Labour, (who want to run BIGGER deficits for LONGER), criticise National for running deficits.
It comes across as absurd.
It’s even funnier when lackwit tr*lls (just like you) pretend that their delusions have some connection to what the Left would have done.
What’s the matter Johnny? Couldn’t you manage a reality-based argument? Your personal responsibility is a bunch of impotent lies, eh.
That’s about as idiotic as your claim GDP per capita was higher under Labour – see
http://www.google.com/publicdata/explore?ds=d5bncppjof8f9_&met_y=ny_gdp_pcap_cd&idim=country:NZL:AUS:CAN&hl=en&dl=en
Imagine I am speaking to you in a patient tone, as though you are a child.
Your graph, poppet, demonstrates that, in $US, the rate of per-capita GDP increase has slowed under National.
Obviously another person ignorant that there’s been a global financial crisis.
And now backtracking on the patently false claim that GDP per capita was higher under Labour.
Keep peddling – you’re going backwards fast
Average 3.7% GDP growth over nine years of Lab5, against National’s record. This is in line with New Zealand history. Hardly surprising when you consider that unemployment is always higher under National.
As I said – now you’re backtracking.
Previously you claimed GDP per capita was bigger under Labour.
Now it’s growth rates.
And you still show extreme ignorance by failing to acknowledge there’s been a global financial crisis.
Still you don’t seem to grasp the facts: under all economic conditions experienced thus far, annual per capita gdp growth is lower when the Masters of Finance occupy the Treasury benches.
This time, your excuse is the GFC, and, poppet, the GFC didn’t force the Masters of Finance to slash government revenue.
Why is it that when it comes to analysing Labour’s economic performance there was no GFC but when it comes to National’s economic performance there is nothing but GFC.
Really?????
The Labour years were BEFORE the GFC so it’s pretty obvious why it’s not linked to Labours performance.
[I get tired with RWNJs saying that the decade of deficits was because of Labour decisions and not because of the GFC. For your information the GFC started in 2007 and in 2008 Clark and co were in full adaption mode. Post another idiot comment where you deny this without pristine proof and I will start to treat you as a troll – MS]
MS says “I get tired with RWNJs saying that the decade of deficits was because of Labour decisions and not because of the GFC.”
Time to get reading lessons, or some new glasses –
I said “The deficits are because of the GFC, and would have been there regardless of whether Labour or National was in power.”
And you really think the GFC had and impact on the growth and debt stats under Labour before it even happened (which is 90% of the period under discussion).
The deficit aren’t “because” of the GFC, John, the deficits are there because NZ’s economy is fragile, unbalanced, and undiversified. The deficits also continue because National is both visionless and gutless, combined with typical right wing short term opportunism.
But since you don’t understand anything about real economics, it never occurred to you that this was the case.
Because of the GFC –
– other countries buy fewer of our products, so there’s less tax on company profits
– fewer workers are required to make those products, so there’s less paye
– the (now unemployed) workers have less to spend, so there’s less gst
– less tourists come from countries suffering from the GFC, so they spend less, and the whole cycle continues in the tourism sector with less gst, less company profits, fewer workers, less paye.
– and significantly more spent on benefits
And you don’t think the deficit is caused by the GFC. Yeah right.
you’re not paying attention, John. The GFC is but one external environmental factor. Its the internal factors that successive governments have fucked up, creating a narrow economy which lacks depth and diversity. Open your eyes.
You’re missing the point.
When ALL your overseas clients are suffering from the GFC and EVERY company in EVERY country slashes their spending budgets, it doesn’t matter what you produce .
as usual, wrong again. If National truly believe that, they should stop wasting our oxygen, fuck off, and let people who can make a real difference for ordinary NZers take charge.
The whole idea of government running a surplus is absurd. I would far prefer that households and SMEs run the surplus instead of the Crown – i.e. that ordinary people get to have a decent income, get to save more, get to run their businesses at a profit.
No mate – it goes to competence. Bill English promised surpluses – cannot deliver them – not just once or twice but seven times in a row. The non-delivery of surpluses by Bill has become a statistical certainty.
It’s funny when people backing Labour, (who want to run BIGGER deficits for LONGER), criticise National for running deficits.
Idiot. What evidence do you have that Labour wants to run deficits? FFS last time we failed miserably according to your idiot analysis.
Ideally the state pays its way and puts some money aside for a rainy day. Labour achieved this. Shame the nats can’t.
Labour wants to run deficits it just doest know it yet. I have been explaining this to you for weeks now and you said the issue was lying, not that deficits were a problem (which they are not). Are you revising that position?
Modern Labour tends to want to run the economy on Kensian lines. When things are good stash money away. When things are bad open up the purse strings.
The last Labour Government was happy to start spending. There was a plan to have a mini budget at the end of 2008 if they were reelected. I am not disagreeing with you.
I am disagreeing with John’s claim that the decade of deficits was because of the fifth Labour Government. And it irks that he suggests that National should be cut some slack because of the GFC but not Labour.
mickeysavage says “I am disagreeing with John’s claim that the decade of deficits was because of the fifth Labour Government. ”
I think you’re arguing against something that I never said.
The deficits are because of the GFC, and would have been there regardless of whether Labour or National was in power.
In the 2000s, New Zealand was spending 115% of what it earned, every year, year after year.
That is a totally unsustainable position and where Labour stuffed up was they didn’t do a thing about it.
Under Labour private debt skyrocketed 166% from $60b to $160b, and they didn’t do a thing to stop massive house price inflation, not just in Auckland as is the case now, but across the other 70% of houses as well.
What did Labour do to stop it? Nothing.
At least this govt has tightened up on claiming depreciation, speculators, LAQCs, low deposit loans, bigger bank reserves etc.
John
“The Labour years were BEFORE the GFC so it’s pretty obvious why it’s not linked to Labours performance.”
Disagreed. The GFC started during Labour’s term. The GFC had everything to do with the downturn and the “decade of deficits”.
“The deficits are because of the GFC, and would have been there regardless of whether Labour or National was in power.”
Disagreed. National’s “fiscally neutral” tax cuts basically sucked a billion dollars out of the state’s books each year. There would have been deficits for a while but they have been much worse because of National’s tax cuts.
Crown control over private debt? FFS when we suggested people should use eco friendly light bulbs there was hell to pay. Blaming us for not strong arming people into borrowing less is a bit rich.
John’s comment was dead on to begin with. There would have been similar sized deficits regardless if labour was elected. Labour needs to explain why the deficits are necessary and stop playing a game of irrelevant political football with the constant carping on about what they could get away with before the GFC.
Mickey – Labour didn’t so much as lift a finger while they watched a housing bubble caused by skyrocketing debt, and a country spending 115% of what it earned every year.
The current govt has put in place numerous measures to curtail private debt and housing bubbles.
And Labour complains it’s not enough.
Which makes your weak excuses for not doing anything look hollow and hypocritical.
theres no need for the government to “stash money away for a rainy day.”
Why would there ever be a need for the government to stash away electronic ones and zeroes that it can enter by keyboard any time that it wants to? How on earth do you “stash” digital digits, anyway?
Meanwhile back in the real world, a $1b tax cut for six years doesn’t add up to a $66b debt.
The “real world”? Don’t make me laugh John. I agree that the NATs needed to deficit spend, but their lack of a credible long term vision for NZ has been shocking. Under their leadership NZ does all it can to stumble from year to year with no cohesive long term economic planning.
I am not defending the current government’s record by any means! What I am criticising is this clap trap language that infers deficits are inherently bad and that running surpluses are inherently good. This is implied in the language Labour has used and indeed campaigned on and in this original post.The fact that Labour ran a series of surpluses is not in itself good or bad. Classical and neo-Keynsian economic theory argues that governments should build surpluses when the economy thrives and run deficits when the economy is struggling.
IF the current regime claim there has been no serious economic crisis post GFC it should be moving towards and running surpluses. We know this isn’t true so we should expect them to run deficits and indeed we should encourage it. We might want to argue over what it is being spent on, of course, but my basic point remains.
Conversely, IF the previous Labour regime were running surpluses during economic upswings, this should be expected and encouraged. However, IF they were running surpluses during economic recession, they should be admonished.
The point is, simply comparing Labour’s surplus record juxtaposed to the Nat’s deficit record, devoid of economic context, is disingenuous at worst, and plain ignorant at best
In fact Labour weren’t too hot economically either – little realised growth in terms of capacity or productivity, few to no new jobs, little effort to address problems like housing or the balance of payments, much less winding back the employment ‘reforms’ of the black decade.
But they were basically competent, unlike the screaming heap that National is. Solid Energy is a fair analogy for National’s management of the economy – they wrecked it without even making a profit.
“Few to no new jobs”
They had the lowest unemployment rate in the western world.
And still do have one of the lowest.
We still have one of the lowest unemployment rates in the western world because National have held off on implementing austerity and govt debt reduction measures.
Massaged numbers – tightening Winz policies and lies about ‘the lowest ever unemployment rate’ that anyone alive in the 1980s knows were patently false.
ummm i think you all need to read the correct data. i am very very very happy in nz.
i earn 70k a year – debt free and own a house in central auckland. 2 kids 50 years old and not one hand out or any inheritance.
tell me what is wrong?
Clue: what’s wrong is not that people are doing well.
What’s wrong is that many people are struggling, hungry, homeless.
How much was your student loan, and how much were your training/course fees?
How much were the “voluntary” fees your parents shelled out to your school?
What about your parents – did they get any assistance, or a state house?
Or are you one of the infintesimally small few people who earn well over the average wage while having zero qualifications?
And how are your kids going to buy a house?
Gosh. And you’re so typical, too 😉
I’m wondering if the reason why 3 million Kiwis don’t earn $70k, live in central Ak etc. is that we live a world that requires mass poverty and unemployment in order for the economy to function so that people like you can be the exception to the rule.
Yep, it’s rare for the people who benefit from the poverty that they create to see the cause.
What’s wrong is that you believe a lie. You and you’re parents got lots of help from the government. You just don’t want to see it.
You are a kick-the-ladder-out kind of person. There are too many of you and that’s what’s wrong.
moved to auckland 12 years ago. One of 7 kids from a labour voting family. All info is correct. Just saved
So given that fossil fuel use tracks economic activity, at 1.3% growth, National were about 2/3rds less bad for our future than Labour.
THIS
When did Colonial Viper become a raving right winger?
I must have missed this because I thought he was socially responsible, like the rest of us.
are you accusing Bill as well? After all it was his idea i was backing 😈
You forgot the sheep and extra cows Bill 🙂
I was suspicious of the high level of emissions attributed to NZ livestock lately.
I’ve just come across figures for 2003 – 2013 contending that, globally, fossil fuels and cement accounted for,on average, about 8.6 Gt or 92% of anthropogenic carbon emissions per year and land use accounted for about 0.8Gt or 8% per year.
http://tyndall.ac.uk/sites/default/files/gca_tyndall_cicerosideevent_5combined.pdf
Historically – ie, the cumulative totals for CO2 see land use account for about 20 – 25% of the existing total.
And this link, also pasted on ‘Daily Review’ is a must. http://www.globalcarbonatlas.org/?q=en/content/welcome-carbon-atlas
Disagree with this line of thinking. There is no reason fossil fuel use must track GDP growth. The government should invest in employing people to create a sustainable economy. If it does this on a large enough scale then it’s quite possible for GDP to grow and the economy to become sustainable (with lower energy use) at the same time.
On the other hand if the government wants to cause a recession or depression then it’s going to be unpopular and they will quickly be out of office. That will be curtains for plans to move onto a sustainable path no doubt.
The economy is not going to by itself onto a sustainable path. The government must intervene and buy up outputs towards it.
Well, there’s no reason why it must, but it does.
As for growing an economy while aiming for sustainability…from these six eggs I have, I want to make an omelet while wanting for six chicks to hatch.
Meanwhile,most of the western world is being plunged into recession and depression, in part, due to policies pursuing austerity. Those governments haven’t been kicked out and ,in fact, have been re-elected.
Sorry, that kind of thinking doesn’t cut it. Explain why if you have some sustainability policy (say reforestation) the government can’t pay for it to happen.
The government can pay for such things. That’s not a biggie.
But if you want a growing economy, then that means more production and consumption. And that’s profit driven, not ‘lets be nice to the environment’ driven. If you find that objectionable (as I do) then you’ll have no option but to adopt a market abolitionist position.
Then, with the profit motive gone, we can look at steady state or ‘environmentally mindful’ economic models.
Closer but you are not there yet. GDP has three main components, consumption, investment and government spending. So growing GDP does not mandate growing consumption. Also not all consumption is a measure of physical consumption it also counts service spending and all kinds of sustainable consumption. There is no solid link between growth of GDP and growth of the physical demands of that economy. In considering how to deal with this issue there also needs to be a distinction between markets with and without government intervention including regulation for socially desirable outcomes.
Closer but you are not there yet. GDP has three main components, consumption, investment and government spending. So growing GDP does not mandate growing consumption. Also not all consumption is a measure of physical consumption it also counts service spending and all kinds of sustainable consumption. There is no solid link between growth of GDP and growth of the physical demands of that economy. In considering how to deal with this issue there also needs to be a distinction between markets with and without government intervention including regulation for socially desirable outcomes.
“There is no solid link between growth of GDP and growth of the physical demands of that economy.”
other than energy use tracking closely with GDP you mean? And in the rest of the world that typically means coal and oil being burnt.
No, including energy use tracking with GDP. If you think of an alternative real economy (a sustainable one) then the payments for that can obviously be arranged in essentially any manner. Arguing that it has to be that way then is also claiming there is no real alternative economy possible. The fact Fossil fuel use tracks GDP is just a coincidence due to the world running a non-sustainable economy but that can change.
It’s also not true for many countries but industrial production being sent offshore is a large component of that, so it’s not a clear cut example.
“The fact Fossil fuel use tracks GDP is just a coincidence due to the world running a non-sustainable economy but that can change.”
???
I’m referring to the current physical world economy and the energy inputs its activity is entirely predicated on, not a future science fiction one.
Claims about science fictions and utopia as side, I was discussing with Bill how to grow GDP while shrinking the ecological footprint of the economy. When he says that we must first abolish markets and first instate some other (yet to be defined) system he is the person advocating for inaction.
Paid work (and profits) is a powerful incentive and should be used to take action on climate change now.
At the end of the day the only answer I can see is for a fifteen to twenty year war-time like effort to move NZ 90% off fossil fuels and also towards autarky in strategic areas. We will burn a lot of fossil fuels and consume a lot of resources in the process to do so – but at least they will be available at this time.
After this next fifteen year window passes, it’ll be too late to do anything more than localised/regional makeshift initiatives to try and make life survivable and decent.
National is 1/10 towards what is needed. Labour is 3/10 towards what is needed. The Greens are 3.5/10 towards what is needed.
Ah well, currently those are the choices we have been given.
Bunji your first post is focusing on the wrong issue, your second on the right issue. Government spending adds directly to GDP by accounting so if the deficit was lower in any of the last seven years then GDP would also have been lower by the exact same amount. Yes if labour wants to grow GDP at a decent rate in future they will need to run a significant deficit for many years.
exactly, thank grod someone else gets it too
Great work today OAB. Another one to line up.
The reality is the neo liberal policies embraced by new Labour and National have led to this mess. They are both culpable for the misery people endure.