web analytics
The Standard

Turning around the books

Written By: - Date published: 5:44 pm, December 13th, 2013 - 23 comments
Categories: john key, Privatisation, referendum - Tags:

So according to John Key, turnout in the referendum is so low it doesn’t mean anything to him (despite his government working hard to get turnout down).

We’re yet to see if we managed to get our 1,000,000 no votes (fingers crossed), but presumably the 1,000,000 National party votes in 2011 don’t mean much either if those sort of numbers don’t count..?

He’s done nothing wrong, even if he’s acted against the wishes of most New Zealanders.

However, as most people in the referendum will be voting to say he was wrong to sell them, this apparently means David Cunliffe needs to promise to buy them back.

This is because National have turned around the state of the books.  In direct contradiction of what his Finance Minister and number 2 Bill English said when they came into government – acknowledging the lack of debt (in early 2008 was the first time NZ had cleared its net debt since Vogel borrowed to start having trains in New Zealand) – apparently Labour left the government accounts in a terrible state.

Can I please get just a little fact checking in my news articles?

Just a wee statement of Government debt when National took office (nearly zilch), government debt now (lots, although nothing compared to private debt).

National have indeed turned the state of the books around.  Just not in a good way.

23 comments on “Turning around the books”

  1. mickysavage 1

    My personal suggestion to David Cunliffe on how to respond to Key next time when he says that Labour left the country with a decade of deficits is to say that it was not Helen Clark and Michael Cullen but …

    Wall Street
    Bear Stearns
    Morgan Stanley and my personal favourite
    Merrill Lynch

    • Colonial Viper 1.1

      Very clever.

      The ‘fact checking’ approach in of itself is necessary but not sufficient. The symbol of bankers playing fast and loose with big numbers and big assets to the detriment of us all…that’s an idea which people get.

    • tc 1.2

      Didnt blinglish praise cullen in the house for leaving them such a good set of accounts…..from which they could plunder.

      its on record so an easy one to throw straight back at shonkey showing him up for the bs’er he is.

  2. karol 2

    Word on twitter is 67% voted “No” in the referendum.

    895,322 No votes
    4,000+ informal votes

  3. SPC 3

    Referendum provisional results: 1,333,402 votes.
    Yes (sell): 432,950,
    No (don’t sell) 895,322.
     
    Turnout: 43.9%

  4. phil 4

    xox
    NZ Rocket science 101
    Sell off State assets = less government influence in NZ
    Lower INCOME tax = less government services
    Government provides less services = government loses public credibility
    Change government = government loses more credibility. Further reduce Government.
    Award winning Pike DISASTER = government failure
    Fairfax, Murdock, SKY = death of Non commercial NZ Public Broadcasting
    Fonterra god zone = 100% pure cow ****
    Luxury cars sales booming = child poverty booming
    House values soaring = homelessness booming
    Wealthy migrants moving in =
    poor Kiwis moving out.
    Demockary = NZ today

    NZ leading the world = Transparency/least corrupt country in the world!?

  5. Dumrse 5

    Piss poor turn out and hardly the result anticipated by rusty norman. Don’t get too excited. Sorry, did I forget to say the sale process is over, over. Get over it.

    • SPC 5.1

      A 2 to 1 majority opposed to the sales is in accord with the polls. The idea that those opposed would dominate the turnout was undermined by realism – the government has effectively said that they would not listen even if 99% turned out and voted no.

    • weka 5.2

      “Piss poor turn out”

      The last two referenda outside of a general election got turnouts of 56% and 27%. This one got 44%. I think you need to reassess your definition of piss poor.

      Then there is the issue of how many people didn’t get their papers, or didn’t get them in time.

      • happynz 5.2.1

        Yup. My partner and I didn’t receive our papers. Perhaps because we are overseas…who knows?

    • appleboy 5.3

      Dumarse indeed. Only bigoted greedy nasty up themselves right wingers could think that non voters in the referendum support John Key.

      What the %%% Assets generations of kiwis owned sold to less than 4%. How do you sleep you right wing twats.

    • Paul 5.4

      What a nice person you are.

  6. AmaKiwi 6

    Reality check: To date 9 National MPs are not standing for re-election.

    That says it all.

    Nat-rats abandoning the sinking ship.

    • Paul 6.1

      Just wish about 9 members of the Labour caucus left as well.
      Goff, Mallard, King, ….

      • Lanthanide 6.1.1

        I have to say, I actually quite like Goff. Whenever he talks about the defense force he really sounds like he knows what he’s talking about.

      • David H 6.1.2

        Maybe they just need a little hint that it’s time to go. Like a shitload of E-mails saying it’s time to Resign.

    • JK 6.2

      Not abandoning, AmaKiwi, more likely “pushed” to make way for more corporate-leaning MPs

  7. Tracey 7

    Keys lie yesterday was one of his worst and easiest to highlight when quoting.

    although his supporters wont address it even they cannot deny he has lied this time. It is irrefutable even by them. So now they hsve to work even harder to rationalise the lying. Funny thing is I dont believe his supporters who post here are actually all better off under national. I suspect most of them are still believing they will be beter off. Soon. In the future. They are not rwnj they are dupes and getting more willing by the day

  8. Molly 8

    Government debt statistics could easily be found in this spreadsheet from Reserve Bank but that form of reporting was discontinued – along with a lot of other useful info in June this year. (Just in time to make it difficult to track the escalating debt up to 2014?) December 2008 had the official government debt at $18.86 billion.

    Now you have to visit Statistics NZ, Open/download the Balance of Payments and International Investment position Quarterly report, select Table 11: International financial assets and liabilities then and add two figures together to get the debt:
    Add Line 29 General Government + Line 30 Monetary Authorities to get the same data that has been reported in the discontinued Reserve Bank report.

    To save some time (and sanity) the latest figures are below:
    2012 Dec $52.481 billion (same as final data on Reserve Bank spreadsheet)
    2013 Mar $56.773 billion
    2013 June $50.913 billion

  9. Tracey 9

    Lanthanide

    he said the books were a mess when he took over and he has turned them round and accordingly there is money for labour to buy back the assets.

Recent Comments

Recent Posts

  • Report highlights National’s poor funding decisions
    The Government’s poor coordination between its transport strategy and the needs of the regions has been highlighted in a new report by Local Government New Zealand, Labour’s Transport spokesperson Phil Twyford says. “Local Government was forced to write its Mobilising… ...
    9 hours ago
  • Government wakes up to Opotiki Harbour
    John Key is expected to finally announce Government support next week for the Opotiki Harbour development, says Labour Economic Development spokesperson David Clark. "While it is astonishing that it has taken seven years for the Government to commit to this… ...
    12 hours ago
  • 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… ...
    1 day 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
    2 days 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… ...
    2 days ago
  • The latest equal pay case – Go the Midwives
    ...
    GreensBy Jan Logie MP
    2 days 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… ...
    3 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… ...
    3 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.… ...
    3 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… ...
    6 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… ...
    6 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… ...
    7 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… ...
    7 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… ...
    7 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… ...
    7 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… ...
    1 week 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… ...
    1 week 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… ...
    1 week 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… ...
    1 week 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… ...
    1 week 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… ...
    1 week 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… ...
    1 week 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

Public service advertisements by The Standard

Current CO2 level in the atmosphere