web analytics
The Standard

The budget’s flawed premise

Written By: - Date published: 1:02 pm, May 15th, 2013 - 25 comments
Categories: class war, debt / deficit, economy, national - Tags: , ,

The Nats have made surplus by 2014-15 their one and only economic goal, because it is one that they can meet. They just keep the slashing social spending, and introducing stealth taxes until they make it. Claim success with no accounting of the damage caused on the way.

The whole approach rests on the fallacy of “expansionary austerity”. This approach is failing the world over. As has been widely covered in the media lately, the flimsy academic foundations that it rests on have recently been found to be utterly wrong. There are many good articles on the topic, this one by Bryan Gould is excellent:

Govt policies based on ‘sloppy research’

Key, English prefer to sacrifice the vulnerable than acknowledge damning case against austerity.

… Most people will know that the current government, from the moment it took office in 2008, has insisted that its top priority must be to cut spending and reduce the government deficit, thereby becoming a founder member of what is by now a dwindling group of countries that maintain that austerity is the correct response to recession.

This stance seems to run counter to the Keynesian lessons we thought had been learned from the Great Depression and to the experience today of those countries finding themselves mired in recession while pursuing austerity policies.

But, in the face of mounting evidence that they are on the wrong track, the proponents of austerity have been encouraged to stick to their guns by the work of two highly regarded Harvard economists.

Carmen Reinhart and Kenneth Rogoff published a paper called Growth in a Time of Debt in 2010 which purported to show that a country with international debts equal to 90 per cent or more of its national output would suddenly see a sharp fall in its growth rate.

For those countries with high levels of debt (and we are one of them), the lesson was clear. If they are to grow and escape recession, they must reduce debt. …

But the story has now taken an unexpected turn. A young graduate student at Massachusetts University Amherst, Thomas Herndon, was required to replicate Reinhart and Rogoff’s research. He was downcast to find that, try as he might, he could not. The young man finally discovered the truth; the research was vitiated by fundamental errors. With the help of two senior colleagues he published the results of his work and created a sensation which is still reverberating around the world.

The catalogue of mistakes is shocking. Reinhart and Rogoff had omitted through an oversight some of the key data; they had capriciously given excessive weighting to minor factors that had skewed the results; they had assembled statistics in bands so as to suggest there were tipping points (such as a 90 per cent debt to GDP ratio) that were in fact artificially constructed; and even if their conclusions had survived these errors, they had hardly considered the possibility that any correlation between high debt and growth rates might have shown that slow growth produced high debt rather than the other way around.

What this means is that policies that have kept millions out of work, condemned many to continuing poverty, destroyed a number of European economies and weighed down the whole global economy have been based on sloppy research and political prejudice.

But it seems unlikely the architects of austerity will be deterred. They will go on crucifying the poor and vulnerable, even in the face of practical and theoretical evidence that they are mistaken. …

Bryan Gould is a former Waikato University vice-chancellor and UK Labour Party MP.

Keep this in mind amidst the budget brouhaha tomorrow. The whole austerity driven focus of the budget and National’s economic policy is based on a premise which is in turn based on a spreadsheet error. Austerity and “surplus at all costs” has done this country much more harm than good, and merely delayed the recovery.

25 comments on “The budget’s flawed premise”

  1. One Anonymous Knucklehead 1

    So, the neo-liberal “conspiracy” turns out to have been snafu from the get-go. Not evil, just incompetence.

    Figures.

    • tc 1.1

      It’s not incompetence but deliberate choice of wealthy over the not so wealthy with all the consequences well laid out. They just don’t give a F.

    • Tom Gould 1.2

      Lead ‘news’ story on One News tonight has ‘journalist’ Corin Dann saying in a dramatic live cross outside Parliament “When Bill English came into office he was pretty much immediately faced with a wall of red ink. He had the global financial crisis to deal with, then the Christchurch Canterbury quakes, big deficits. He has fought and scraped to get the books back into shape. He has pretty much achieved that. But while things are looking up, he is a conservative man, fairly cautious man, so don’t expect a big spend up.” What planet is this snivelling Tory apologist on? Bill English, Corin’s hero. What a guy. I was waiting for Corin to well-up and wipe a tear from his eye.

      • QoT 1.2.1

        That would be Corin Dann who framed all election-debate questions to push the neocon line. I was especially fond of “So if we went into recession and had to pass an austerity budget, would you support it?”

      • Green machine UpandComer 1.2.2

        He is exactly right about Bill. Tune in to the Australian budget with 43 billion dollars worth of cuts to see the alternate reality that Labour would have subjected New Zealand to, except it would have been worse. Bill has been fantastic, and people in the real world are grateful.

  2. karol 2

    Good article by Gould. And this by Peter Lyons in this morning’s NZ Herald:

    In 1973 the Kirk Labour Government was in power. Many Kiwis were starting to protest against French testing of nuclear weapons in the Pacific. Fred Dagg was about to become a national icon. …

    Fast forward 40 years to 2013. Over the four decades, the New Zealand economy has undergone remarkable transformations. There has been a lurch towards free markets and reduced government intervention in the economy.

    The economy is now one of the most open in the world through the removal of barriers to international trade and financial flows. Over the decades, the economy has also experienced significant inflation. The general price level for goods and services is now almost 12 times higher than in 1973. …

    Many of these changes were necessary. But the ultimate rationale behind economic reform was to improve the material prosperity of New Zealanders. Yet in real terms, the median citizen and those below him or her on the income ladder are little better off than their parents were 40 years ago. Their ability to own the roof over their heads has actually declined significantly.

    A similar story has played out in other Western economies, including the US. The bulk of the gains in economic prosperity have accrued to those above the median.

    In the post war decades, until the early 1970s, benefits of economic growth, which averaged 3 per cent a year, were generally shared across the board. In the past 40 years, increased prosperity has largely accrued to the better off in our society.

    • Colonial Viper 2.1

      In the past 40 years, increased prosperity has largely accrued to the better off in our society.

      Not an accident.

  3. tracey 3

    As long as enough people believe (and there is enough manipulation and lying by various people to help them) that the only way they will have more personal wealth is to support the policies which currently assur eonly the top 1% more wealth, we will never get off this money-go-round.

  4. UpandComer 4

    You guys need to get a sense of proportion around the idea of ‘austerity’. I’m not sure how you can accuse the govt of borrowing/spending too much money, and also accusing it of ‘austerity’ in the same breath like Russel Norman, and the posters here.

    Not using up all your monetary power by not printing money as a run of the mill policy as opposed to a monetary policy emergency procedure isn’t austerity btw guys.

    • One Anonymous Knucklehead 4.1

      Ah, I see the point has sailed right over your head: the National Party sabotaged its own revenue stream with tax cuts in a recession. Not sure why you left the revenue side of the equation out of your analysis, but my best guess would be ideological mendacity.

    • Enough is Enough 4.2

      If National had not given tax cuts to the rich we would have never gone into deficit.

      It is that simple.

      They created this crisis.

      • UpandComer 4.2.1

        That statement is silly in how untrue it is. On the spending paths that greeted National, they could have raised taxes on everybody substantially, and we would have been in deficit for the foreseeable future. I’ll rephrase and say your statement is laughable.

        I’ll also just point out that over about half of the ‘tax cut’ you refer to, without any reference to any of the other tax policy measures that ‘increased’ revenue, was brought in by Labour, remember?

        • felix 4.2.1.1

          What tax cuts are you talking about? National’s were all “revenue neutral”, remember? All they did was cut income taxes for the rich and increase all the other taxes on everybody.

          Most are worse off as a result.

          Sure, it’s not austerity if you’re one of the top few percent. But who is?

        • tracey 4.2.1.2

          Do you concede the impact of national’s first tax cuts were not to stimulate the economy?

  5. Macro 5

    Nothing new… Neoliberal economics is essentially based on false premise and junk logic/math. The media have been brought up on this tripe, so will be very reluctant to criticize it.
    There is a growing number of economists around the world who are starting to realize the enormity of the error of the currently perceived conventional wisdom of neoliberal economic “theory”. They need more voice but get little attention.

  6. Shaz 6

    Rogoff’s and Reinhardt’s isn’t the only research that has been overturned. The CTU’s April economic report (http://union.org.nz/economicbulletin145) also covers the change of heart in the IMF where recent research has demonstrated that the effect of cuts in government spending is far more severe than was previously thought. The multiplier effect as it is called is the contraction in the wider economy especially in recession conditions caused by cuts in government spending.. The IMF’s historical value was set at about 0.5 i.e a $1.00 cut in spending would cause a 0.50 c contraction in the economy.
    .
    Then new research shows that the likely actual impact is more generally between 1.2 and 1.9

    In the UK this information has caused one of the biggest wrenches in the coalition government as George Osborne has had to face serious questions about the speed and savagery of cuts from the Liberal Democrats. The so far untold story here is I would have thought that the government’s story about a well performing economy is somewhat of a chimera.. Whatever the GDP effects of an earthquake driven ‘recovery’ the year on year cuts in public sector funding and capacity,cuts in services and staffing and the cap on public sector personnel will be having a similar effect in our economy.

    • Colonial Viper 6.1

      So is it time to admit that orthodox economists are nothing more than mis-guessing fortune tellers, and dangerous ones at that?

      • peterlepaysan 6.1.1

        So what is new?

        It was GB Shaw ( I think) many decades ago who observed that “if you laid all the economists in the world end to end they still would not reach a conclusion.

        The study of economics can only ever be conjectural and descriptive of hypotheses.
        It can never be prescriptive.

        The mantras and dogmas of economists (and their adherents) have more in common with religious fundamentalists than with reality.

        Somebody we think important said something, and it was recorded in a book.

        These things align with my prejudices and beliefs so it must be true.

        Anyone who questions this is an unbeliever, an outcast, a gentile, an infidel, a satanist, a North Korean, a Stalinist, a socialist, a communist……etc etc.. (and worst of all “politically correct”)..

        • geoff 6.1.1.1

          “An economist is an expert who will know tomorrow why the things he predicted yesterday didn’t happen today. ”

          –Evan Esar

  7. Huginn 7

    The response to Herndon’s critique of Rogoff & Reinhart has been fascinating.

    The defenders seem to be going through a Kübler-Ross Five Stages of Grief thing. There’s been a bit of anger and denial – a lot of ‘What’s wrong with you! Can’t you see it’s just common sense!!!!!!!’.

    Now they’re going through the Bargaining Phase with ‘It’s only a little mistake’ and ‘let’s not throw the baby out with the bath water’.

    It’s a very emotional time for these guys – it’s not easy arguing from a position of intellectual bankruptcy.

  8. geoff 8

    Let’s not pretend that Neoliberalism is just a mistake that some well-intentioned individuals made. It is merely the latest in a game that has occurred throughout history where the powerful attempt to assert as much dominance over the population as possible. That is simply the nature of power. All the concepts like neoliberalism, capitalism, socialism are just language games that power uses to grow.

  9. kiwicommie 9

    “All we are saying, is give slavery a chance!”

    • peterlepaysan 9.1

      Nah slavery is too expensive. Been tried ,and failed. A wage dependent proletariat is cheaper.
      Take away any welfare system, provide only charter schools and you wind up with a neo con lib paradise like Bangladesh. Shonkey (and his wall street/hollywood cronies) will love that.

Links to post

Recent Comments

Recent Posts

  • New figures show speculators rampant
    New figures released by the Reserve Bank show there’s been an explosion in mortgage lending with most of the growth going to property investors, Labour’s Housing spokesperson Phil Twyford says. Reserve Bank data shows mortgage lending was up 6 per… ...
    13 hours ago
  • Spring is here – not pollen your leg
    It’s the first day of spring, and many people will be thinking about getting stuck into the weeds in the garden ready for planting. This year September is also Bee Aware Month. While there is a lack of movement from… ...
    GreensBy Steffan Browning MP
    17 hours ago
  • Government must do more to help global refugee crisis
    John Key must urgently increase our refugee quota and let New Zealand play its part in helping address the tragic humanitarian crisis unfolding around the world, Opposition Leader Andrew Little says. “The refugee crisis in countries like Lebanon and Austria… ...
    17 hours ago
  • The latest equal pay case – Go the Midwives
    ...
    GreensBy Jan Logie MP
    19 hours ago
  • Key’s threat to veto premature
    John Key’s threat that he might use a financial veto against the Bill that will introduce 26 weeks Paid Parental Leave is premature and based on inflated costings, says the bill’s sponsor, Labour ‘s Sue Moroney.  “The Government keeps saying… ...
    2 days ago
  • Reflections on the plastic bag tour
    After a marathon public tour around New Zealand that took me to 29 different places around New Zealand from the far north of Kaitaia to the deep south of Invercargill to talk about phasing out plastic bag use, I wanted… ...
    GreensBy Denise Roche MP
    2 days ago
  • Labour celebrates Tongan language and diversity
    Tongan Language Week is a timely reminder of the importance and beauty of our Pacific culture, identity and language in New Zealand, says our first Tongan born, Tongan speaking MP Jenny Salesa.  The theme for Tongan Language Week in 2015… ...
    2 days ago
  • Privatising CYF about ideology not care
    John Key’s suggestions today that Child Youth and Family could be privatized will be a terrifying thought for New Zealanders already dealing with the mess created in private prisons and plans to sell our state houses to Australians, Opposition Leader… ...
    2 days ago
  • Govt must make most of Jetstar competition
    Government agencies should pledge to always buy “the best fare of the day” to maximise competition between Jetstar and Air New Zealand and ensure savings for taxpayers while boosting services to regional New Zealand, Labour’s Transport Spokesperson Phil Twyford says.… ...
    2 days ago
  • Time for inquiry into petrol margins
    It’s time for an inquiry into petrol companies as margins are once again at the high levels that prompted concerns late last year, says Labour's Energy Spokesperson Stuart Nash. "Over the December January holiday period, petrol importer margins jumped to… ...
    5 days ago
  • More talk as Auckland congestion worsens
    The main impact of the Government’s agreement with Auckland Council today will be simply to delay still further decisions needed to relieve the city’s traffic congestion, says Labour’s Auckland Issues Spokesperson, Phil Goff. “Government has been aware for more than… ...
    5 days ago
  • Serco inquiry extended
    A two month delay to the Government investigation into prison fight clubs shows the extent of problems within the Serco circus, says Labour’s Corrections spokesperson Kelvin Davis. “My office received a tsunami of complaints so I’m not surprised the terms… ...
    6 days ago
  • Truck Shops ignore consumer laws
    A damning Commerce Commission report out today highlights the failure of the Government to protect poor and vulnerable families from unscrupulous truck shops, says Labour’s Consumer Affairs Spokesperson David Shearer. “The report found that 31 out of 32 firms it… ...
    6 days ago
  • Taihoa at Ihumatao says Labour
    Labour’s housing spokesperson Phil Twyford has called on the Government to rethink its controversial Special Housing Area in Māngere. Auckland Council is today meeting to discuss the development which borders the Otuataua Stonefield Historic Reserve. This project is to get… ...
    6 days ago
  • Figures suggest National deliberately excluded farming
    Figures showing the dairy industry would be categorised as high risk if there were a further five severe injuries within a year, strongly suggests National designed its flawed system to deliberately exclude farming, Labour’s spokesperson for Labour Issues Iain Lees-Galloway… ...
    6 days ago
  • Bleak report on the state of our children
    A damning conclusion by the Children’s Commissioner today that ‘we don’t know if children are better off as a result of state intervention, but the indications are not good’ should make fixing CYFs a top priority for this Government, says… ...
    6 days ago
  • Dodgy data used to justify axing KiwiSaver kickstart
    National’s agenda to run down KiwiSaver has become even clearer from a scathing critique of the Government’s justification for axing the $1000 kickstart, says Labour’s Finance spokesperson Grant Robertson. “Since National came to power they have not only continually undermined… ...
    6 days ago
  • Unsecure website risks Ashley MoBIEson hack
    Experts have raised security concerns that vulnerabilities in MoBIE’s half million-dollar website could lead to a possible Ashley Maddison-style hack, says Labour’s Economic Development spokesperson David Clark. “The real issue here is not what data is immediately available, but what… ...
    6 days ago
  • Democracy still the loser in Canterbury
    The Government has demonstrated once again how arrogant and out of touch it is in denying Cantabrians the same democratic rights as the rest of the country, says Labour’s Environment spokesperson Megan Woods.  “The Environment Canterbury Bill which has been… ...
    7 days ago
  • Waiver cost still a mystery
    The Government still has no idea what it’s going to cost community and voluntary groups to get a waiver from the fees police will charge to carry out checks on their staff and volunteers, says Labour’s Community and Voluntary spokesperson… ...
    7 days ago
  • China exports fall 27 per cent in a year
    Exports to China have fallen by 27 per cent over the last 12 months - showing that the looming economic slowdown should have been expected by the Government, says Labour’s Economic Development Spokesperson David Clark. “The Chinese economic slowdown should… ...
    7 days ago
  • National should support all families for 26 weeks
    Families with multiple babies, and those born prematurely or with disabilities, are the winners from moves to extend paid parental leave to 26 weeks but the Government must give all babies the same head start in life, Labour’s spokesperson for… ...
    7 days ago
  • National’s health and safety shambles puts school camps at risk
    Reports that schools are considering scrapping student camps and tearing out playgrounds highlights just how badly National has managed its health and safety reforms, Labour’s Education spokesperson Chris Hipkins says. “Schools have been left completely in the dark about the… ...
    7 days ago
  • National’s asset stripping agenda hits schools
    National’s fire-sale of school houses and land is short-sighted, mean-spirited, and will have huge unintended consequences that we will pay for in years to come, Labour’s Education spokesperson Chris Hipkins says. Documents obtained by Labour show the Ministry of Education… ...
    7 days ago
  • Takahe massacre supposed to get all New Zealanders involved in conservation
    The Minister’s claim that a  botched cull of one of New Zealand’s rarest birds was a way of getting all New Zealanders involved in conservation is offensive and ludicrous, Labour’s conservation spokesperson Ruth Dyson says.  “An email from Minister Maggie… ...
    1 week ago
  • Serco circus rolls on with revelations of fight club practice
    Further revelations that a Serco prison guard was coaching inmates on fight club techniques confirms a fully independent inquiry needs to take place, says Labour’s Corrections spokesperson Kelvin Davis. “The Minister’s statement today that a guard was coaching sparring techniques… ...
    1 week ago
  • Government targets put ahead of students’ education
    The Government must urgently reassess the way it sets NCEA targets after a new report found they are forcing schools to “credit farm” and are undermining the qualification, Labour’s Education spokesperson Chris Hipkins says. “A PPTA report released today says… ...
    1 week ago
  • ER patients in corridors as health cuts bite
    Patients are being forced to wait for hours on beds in corridors as cash strapped hospitals struggle to keep up with budget cuts, says Labour’s Health spokesperson Annette King. “People coming to the emergency room and being forced to wait… ...
    1 week ago
  • Not too late to fix Health and Safety for New Zealand’s workers
    The Government and its minor party supporters are showing an arrogant disregard for workers’ lives by not agreeing to a cross-party solution to the botched Health and Safety bill, Opposition leader Andrew Little says. “Yesterday I wrote to the Prime… ...
    1 week ago
  • Speech to the New Zealand Council of Infrastructure Development
    Tēnā Kotou Katoa. Thank you so much for having me along to speak today. Can I begin by acknowledging John Rae, the President, and Stephen Selwood, the chief executive of the Council for Infrastructure Development. ...
    1 week ago
  • Reserve Bank points finger at Govt inaction
    In scathing criticism of the Government’s inaction, the Reserve Bank says Auckland housing supply is growing nowhere near fast enough to make a dent the housing shortage, Labour’s Housing spokesperson Phil Twyford says. Reserve Bank deputy governor Grant Spencer today… ...
    1 week ago
  • Chickens come home to roost on climate change
    The Government’s gutting of the Emissions Trading Scheme has caused foresters to leave and emissions to rise, says Labour’s Climate Change spokesperson Megan Woods. “The release of the Environmental Protection Agency’s Facts and Figures Report for 2014 on the ETS… ...
    1 week ago
  • Website adds to long list of big spends at MBIE
    The Ministry of Business, Innovation and Employment’s $560,000 outlay on its new website is further evidence of excessive spending by Steven Joyce on his pet project super ministry, Labour’s Economic Development spokesperson David Clark says.  “Hot on the heels of… ...
    1 week ago
  • Brownlee warned over EQC repairs but ignored them
    Gerry Brownlee was warned that EQC’s underfloor repairs weren’t being done properly by industry experts, the cross party working group and in public but he arrogantly ignored them all, says Labour’s Earthquake Commission spokesperson Clayton Cosgrove.  “Today’s apology and commitment… ...
    1 week ago
  • Serco wants in on state house sell off
    The Government must keep scandal plagued outsourcing company Serco away from our state housing after their disastrous record running Mt Eden prison, Labour’s Housing spokesperson Phil Twyford says. "Today it has emerged that at the same time Serco was under… ...
    2 weeks ago
  • Come clean on Pasifika education centre
    Minister Peseta Sam Lotu-Iinga needs to come clean and tell the Pasifika communities if he’s working to save the Pasifika Education Centre or shut it down, Labour’s Pasifika spokesperson Su’a William Sio says.  “I’m gutted the Pasifika Education Centre funding… ...
    2 weeks ago
  • Time for NZTA to work on alternatives to flyover
    The High Court decision rejecting the New Zealand Transport Agency’s attempts to build the Basin Reserve flyover must now mean that NZTA finally works with the community on other options for transport solutions in Wellington, Grant Robertson and Annette King… ...
    2 weeks ago
  • Shiny new system leads to record truancy
    Record high truancy rates shows the Government’s much-vaunted new attendance system is an abysmal failure, Labour’s Education spokesperson Chris Hipkins says. “Data released today shows truancy rates have spiked more than 15 per cent in 2014 and are now at… ...
    2 weeks ago
  • Woodhouse wrong about quarries
      The Minister for Workplace Relations and Safety Michael Woodhouse was wrong yesterday when he said limestone quarries were covered by the farcical Health and Safety legislation, says Labour’s Associate Labour spokesperson Sue Moroney.  “He said he ‘understood’ limestone quarries… ...
    2 weeks ago
  • Taxpayers money spent on culling one of our rarest birds
    It beggars belief that four endangered takahe were killed by incompetent cullers contracted to the Department of Conservation and the Minister must explain this wanton destruction, says Conservation spokesperson Ruth Dyson. “It must not be forgotten that there are only… ...
    2 weeks ago
  • Housing NZ must immediately move family
    Housing New Zealand must immediately move a Glen Innes family whose son contracted serious and potentially fatal health problems from the appalling condition of their state house, Labour’s Housing spokesperson Phil Twyford says. “Te Ao Marama Wensor and community workers… ...
    2 weeks ago
  • No understanding of the value of overseas investment
     The Government has now admitted it has absolutely no idea of the actual value of foreign investment in New Zealand, says Labour’s Land Information spokesperson Stuart Nash.  “It is crucial that the Government starts to understand just what this overseas… ...
    2 weeks ago
  • Another bridges bribe from Simon Bridges
    Simon Bridges is embroiled in another bridges-for-votes controversy after admitting funding for a replacement bridge in Queenstown is “very much about… the 2017 election”, Labour’s Transport spokesperson Phil Twyford says. “The Transport Minister is today reported as telling Queenstown locals… ...
    2 weeks ago
  • Saudi tender process reeks of SkyCity approach
    The tender process for the $6m investment in a Saudi sheep farm reeks like the SkyCity convention centre deal and once again contravenes the government’s own procurement rules, says Labour’s Export Growth and Trade spokesperson David Parker. “The $6m contract… ...
    2 weeks ago
  • Maori Party should stand up for workers
    The Government’s proposed Health and Safety Reform Bill does not go far enough to protect those in specific industries with the highest rates of workplace deaths, says Maori Development Spokesperson Nanaia Mahuta. “We are told that Maori workers are more… ...
    2 weeks ago
  • Minister must explain budget blowout
    Māori Development Minister Te Ururoa Flavell must explain a budget blow out at Te Puni Kokiri, after the organisation spent more than 2.5 million dollars over their budget for contractors, says Labour’s Associate Māori Development spokesperson Peeni Henare.  “For the… ...
    2 weeks ago
  • Successful effort to raise the issue of GE trees in proposed standard
    Many thousands of people submitted on the proposed National Environmental Standard –  Plantation Forestry (NES-PF).  A vast majority of the public submissions were particularly focussed on the NES having included GE trees in its mandate. People want these provisions removed,… ...
    GreensBy Steffan Browning MP
    2 weeks ago
  • Fair Share Friday – Thoughts and Reflections
    As part of our Fair Share  campaign, Green MPs have been doing a series of visits to community groups across the country to have conversations about inequality in New Zealand and what communities are experiencing on the ground. I visited… ...
    GreensBy Denise Roche MP
    2 weeks ago
  • Crucial Auditor General investigation welcomed
    The Auditor General’s decision to investigate the Saudi sheep scandal is important, necessary and welcome, Labour’s Trade and Export Growth spokesperson David Parker says. “The independent functions of the Auditor General are a cornerstone of the New Zealand system of… ...
    2 weeks ago
  • KiwiSaver sign-ups continue to fall
    New KiwiSaver sign-ups in July were 45 per cent below the monthly average, despite John Key saying axing the kickstart “will not make a blind bit of difference to the number of people who join KiwiSaver”, says Labour’s Finance spokesperson… ...
    2 weeks ago

Public service advertisements by The Standard

Current CO2 level in the atmosphere