Bridges thinks the solution to Covid 19 is tax cuts
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8:14 am, March 5th, 2020 - 64 comments
Categories: making shit up, national, same old national, Simon Bridges, spin, tax, uncategorized, you couldn't make this shit up -
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Simon Bridges gave another car crash of an interview on Radio New Zealand yesterday morning.
He chose to attack the country’s response on Covid 19. There is an unwritten rule that you do not get all political in times of a crisis because the country needs leadership, not petty squabbling. Because often the country is relying on professional advice which should normally be respected.
Siouxsie Wiles at the Spinoff expressed the rule well:
I do understand that you lead the Opposition. I get that it’s your job to hold the government to account, and that this is an election year. Of course you and your caucus are keen to score points against the government wherever you can. But the reality is, you don’t actually have to oppose everything it does. Sometimes, such as in the case of a public health emergency, it might be worth putting the kneejerk response on hold.
I was really disappointed to hear you get stuck into the official response to the coronavirus outbreak and the testing regime in comments relying on anecdotal feedback.
And when I heard your colleague David Bennett, MP for Hamilton East, telling the listeners of Hamilton’s local radio station FreeFM that the government had “dropped the ball, big-time and put New Zealanders’ safety at risk”, and that people “should be out there panic-buying”, well, then I started to see red.
I can’t quite believe I need to tell you this, but during a serious outbreak of a new infectious disease, the last thing we need is for our elected representatives to be undermining the important messages coming from the government, scientists, and public health officials.
What was the nature of Bridges’ criticism? He wants everyone to be screened, even if they don’t meet the criteria for screening set by the professionals. This is against medical advice given to the Government and also ignores the fact that we will run out of testing kits if we do so.
And he has a solution to the crisis and it is … drum roll … tax cuts!
The country is facing the possibility of a trade downturn. What better way to deal with the situation by weakening the ability of the country to respond by increasing deficits and depriving it of options.
Corin Dann was having nothing of this nonsense. There was this fascinating exchange after Bridges criticised the state of the country’s economy and proposes a tax cut.
Dann: Most economists would argue we have a fiscal war chest, we have $12 billion worth of surplusses forecast, we have got debt at below 20% of GDP, unemployment at 4%, even if you’re right it is going to be a marginal difference isn’t it?
Bridges: It depends on what you do. But if you look at the economy last year the latest Reserve Bank [growth] projection at 1.6%, in the last five years of the Key Government we grew it at 3.5% …
Dann: But even if you are right Mr Bridges it does not change the fact that the fundamentals, the amount of debt, the ability of the New Zealand economy to absorb this hit is still there one way or the other.
Bridges: This all speaks to the inheritance that the Government got but the point of that growth is that in terms of small businesses, in terms of households and their rental costs and so on they do not have the protection, the buffer. Now the issue …
Dann: Why don’t they have the buffer? They do, the Government has the surpluses, it has the low debt to spend?
Bridges: Really? No I am talking about the impact in the sector that low growth in the economic situation for those small businesses and for the households …
Dann: Just a second Mr Bridges how will it help the Crayfish industry if the economy had been growing at half a percent more, they’ve lost their market.
Bridges: Well fundamentally families would have more money in their pockets. I mean they would have more ability going into this to do something. But the other side of it is if the Government can’t see it or doesn’t acknowledge where we are and they say “Look everything is ok you know 1.6% whatever GDP per capita lowest it has been for a very long time it doesn’t matter” that to me suggests they will not be able to solve this and get to the remedy. So lets get to the remedy. It seems to me when I have listened to Grant Robertson being interviewed by you, there’s a lot of nice talk, he’s read the treasury breach ah brief but he doesn’t have any sense of a comprehensive overall.
Bridges then talked enthusiastically about a tax cut for middle income earners. But when asked about an increase in benefits he said “if people make their case”. He said that benefit increases were not proposed.
Get that? With blind faith Bridges thinks that a tax cut will steer the country through the crisis. But when asked about a benefit increase he says the case would have to be proven.
How crazy is that? If a business is struggling it will be making little or no profit, ergo will pay little or no tax. A tax cut will do diddly squat to help it. But a highly profitable business will have its owners high fiving each other and planning overseas holidays and buying imported goods, behaviour which will have little beneficial effect of the local economy.
But give a beneficiary extra money and they will spend it locally. A bit more food, a trip out for the kids. Things with local beneficial effect.
Simon your prejudices are showing.
The Government’s thinking is typically more nuanced. From Jane Patterson at Radio New Zealand:
Finance Minister Grant Robertson said ministers were working through on a “sector by sector, region by region” basis.
“This is affecting businesses very, very differently”, he said.
“We’ve obviously got export-focused businesses where we’ve seen some immediate impacts… we’re working that through, we’ve got people on the ground.”
He has left open the option of tax cuts or direct cash payments to people to stimulate the economy; Robertson seemed to favour the latter as it would be a one-off measure.
Part of the work being done now was to gauge what level of spending may be necessary, he said.
“I think it’s really important we do do this in a measured way, we’ve got to make sure that anything we do actually gets to the people who need it, that it actually solves the problem that we’ve got and is sustainable.”
At the moment the economy was “continuing to tick over”, Robertson said, although “clearly there are significant problems for particular industries and particular regions.”
I cannot go better than Imperator Fish’s attempt to explain in what circumstances a tax cut would help.
Tax relief is Simon’s answer to every problem. But he may have a point this time. As our society inevitably collapses from the weight of the many economic and social shocks triggered by Covid-19, and as small communities of wretched people cling to life amidst the rubble of our once-mighty cities, scratching through the ruins for something, anything to eat, and fighting other groups to the death for what few resources remain – sometimes with little more than sticks and clubs as weapons – it will be some comfort that marginal tax rates have reduced.
National’s approach is to brazenly try and gain political advantage by attempting to use a pending crisis to push an ideological solution that will not work and will not improve things. Shame on it.
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- Government plan to reinstate live animal exports a “national disgrace”
The Government has taken a giant step backwards by reinstating live animal exports. ...2 days ago
- Pasifika justice as Member’s Bill passes final reading
Teanau Tuiono’s Member’s Bill, the Citizenship (Western Samoa Restoration) Amendment Bill, has passed its third reading and will become law. ...2 days ago
- Release: Minister of Education thinks New Zealand ends at the Bombay Hills
The Minister of Education has shown complete disregard for rural communities and their school bus routes in Question Time today. ...2 days ago
- Economists sound alarm on Government’s slash-and-burn approach
A group of prominent economists has released an open letter to the Government, raising grave concerns about the far-reaching consequences of its fiscal policy. ...2 days ago
- Release: Smoking numbers up under Costello’s watch
National’s repeal of Labour’s smokefree legislation has taken New Zealand further away from achieving a Smokefree 2025 and a smokefree generation. ...2 days ago
- Release: Call for Palestine recognition by NZ, Australian and Canadian MPs
Parliamentarians from Australia, Canada and New Zealand have written an open letter to their respective Prime Ministers calling on them to recognise Palestine. ...2 days ago
- Justice Select Committee opens floor for Treaty Principles submissions
Today, the Justice Select Committee has decided to officially open submissions for the controversial Treaty Principles Bill. ...3 days ago
- Power of the people on full display as hīkoi approaches Parliament
Today, Hīkoi mō te Tiriti arrived in Wellington, with thousands gathering to march in unity against the divisive Treaty Principles Bill. ...3 days ago
- Hypocrisy as Te Whatu Ora contractor bill balloons
Te Whatu Ora’s bill for contracting and consulting staff has ballooned by nearly 20 percent under the National Government, breaking a promise they made during the election campaign to cut contractors. ...4 days ago
- Release: Growing pressure to scrap Section 7AA Repeal Bill
The newly released Section 7AA Repeal Bill's select committee report is further evidence that the Government should scrap it. ...4 days ago
- Government’s move to monetise access to nature a slippery slope
The Green Party is voicing serious concerns over the Government’s proposal to charge for access to public conservation land, released today. ...7 days ago
- Green Party condemns the passage of Treaty Principles Bill
The Green Party condemns the passing of the Treaty Principles Bill at first reading, and is clear that the fight is not over. ...1 week ago
- Stand Up for Te Tiriti
Te Tiriti o Waitangi is our country’s founding document. It forms the basis of the relationship between Māori and the Crown – and the Aotearoa New Zealand we live in today. ...1 week ago
- Release: Over 15,000 sign Labour’s open letter to Luxon
As the hīkoi to Parliament continues, Labour has sent an open letter to Prime Minister Christopher Luxon in a last-ditch attempt to get him to kill the Treaty Principles Bill. ...1 week ago
- Fast Track Bill threatens environment, climate and reputation
The fast-track legislation passing its second reading in Parliament is another step towards environmental ruin. ...1 week ago
- Greens join King’s Counsel in calling for Treaty Principles Bill to be abandoned
The Prime Minister must answer the call from a group of senior lawyers of the King’s Counsel to abandon the divisive Treaty Principles Bill. ...1 week ago
- Chris Hipkins’ apology statement to state and faith-based care survivors
...1 week ago
- Release: Labour formally apologises to state and faith-based care survivors
Labour joins with the Government in unreservedly apologising for the abuse, neglect and trauma including torture in state and faith-based care and for ignoring the voices of survivors for too long. ...1 week ago
- Green Party stands in support of survivors of abuse in care
Today, the Green Party stands alongside the survivors of abuse in state care and faith-based care as the Government issues an historic apology. ...1 week ago
- Green Party calls for conscience vote on Treaty Principles Bill
The Green Party has written to the Speaker of the House requesting he enable a personal vote on the Treaty Principles Bill. ...2 weeks ago
- Govt move to exclude journalist risks chilling effect
The Green Party is alarmed by the Government’s move to exclude a journalist from covering this week’s apology for the survivors of abuse in state and faith-based care. ...2 weeks ago
- Without action, an apology will be empty air
For tomorrow’s apology to survivors of abuse in state and faith-based care to hold any water, the Government must not pursue the same policies that drove the abuse in the first place. ...2 weeks ago
- Release: Concerns remain over tobacco interference
Concerns about the tobacco industry’s ability to interfere in government policy making remain, despite the inability of the Office of the Auditor-General to investigate the Government’s decision to halve the excise tax on heated tobacco products. ...2 weeks ago
- Urgent wake-up call on climate
The Climate Change Commission’s latest advice indicates Aotearoa needs to be stepping up on climate action. ...2 weeks ago
- Green MP’s Meme-ber’s Bill set to save the world
Break out the punchlines and dust off your meme folder: Green Party MP Kahurangi Carter’s Copyright (Parody and Satire) Amendment Bill was pulled from the Ballot yesterday. ...2 weeks ago
- Release: Poroporoaki: Ta Robert (Bom) Gillies
Kua hinga te manawa kairākau o Te Rua Tekau Ma Waru Tiwhatiwha te po! Kakarauru i te po! Ka rapuhia kei hea koe kua riro! Haere e te Ika a Whiro ki o tini hoa kua ngaro atu ki te Pō ...2 weeks ago
- Labour, Greens and Te Pāti Māori call on the Prime Minister to block the Treaty Principles Bill
The opposition parties stand united for an Aotearoa that honours Te Tiriti, rather than seeking to rewrite it. Labour, the Greens and Te Pāti Māori are working together against the Government’s divisive Treaty Principles Bill. ...2 weeks ago
- Release: Labour, Greens and Te Pāti Māori call on the Prime Minister to block the Treaty Principle...
The opposition parties stand united for an Aotearoa that honours Te Tiriti, rather than seeking to rewrite it. Labour, the Greens and Te Pāti Māori are working together against the Government’s divisive Treaty Principles Bill. ...2 weeks ago
- NZ must pursue independent foreign policy
The Green Party says the need is greater than ever for Aotearoa New Zealand to pursue an independent foreign policy. ...2 weeks ago
- Release: Winston Peters must apologise
The Deputy Prime Minister should apologise to the public servant he named and blamed for something they did not do, and for misusing the rules of Parliament. ...2 weeks ago
- Government action provides Southland farmers more time to meet plan requirements
The Government is taking action to ensure Southland farmers and growers are not affected by unreasonable regional farm plan deadlines, Agriculture Minister Todd McClay, Environment Minister Penny Simmonds and Associate Environment Minister Andrew Hoggard say.“Cabinet has agreed to provide more time for farmers and growers to comply with regional rules ...13 hours ago - Bill reaffirms Government’s commitment to crack down on serious youth offending
The Oranga Tamariki (Responding to Serious Youth Offending) Bill had its first reading at Parliament today. The Bill reaffirms the Government’s commitment to crack down on serious youth offending, Minister for Children Karen Chhour says. “In recent years we have seen an unacceptable spike in youth offending. “This Bill makes ...14 hours ago
- Critical milestones for earthquake buildings review
Fairer, more sensible rules about managing earthquake risks are a step closer with the passing of legislation and the appointment of an independent chair to provide expert advice, Minister for Building and Construction Chris Penk says. “The Government is committed to reinvigorating our cities and regions to support economic growth, ...14 hours ago
- State of the art radiology machine for Auckland
People in Northland and Auckland will benefit from a new machine for cancer treatment installed at the Regional Cancer and Blood Service at Auckland City Hospital. The MV5 linear accelerator, or LINAC machine, officially opened today targets cancer tumours with pinpoint accuracy. Health Minister Dr Shane Reti says this new, ...15 hours ago
- Foreign Minister to visit Europe
Deputy Prime Minister and Foreign Minister Winston Peters will travel to Europe for high-level talks with France, Germany and the United Kingdom next week. "Since taking office almost a year ago, the Coalition Government has emphasised the importance we place on New Zealand's traditional and likeminded diplomatic and ...15 hours ago
- First arrests made under gang patch ban
Police have made their first arrests under the new gang patch legislation, with two gang members arrested, says Police Minister Mark Mitchell. “Just before 11 this morning, Police in Wairoa apprehended a gang member for wearing a patch to the supermarket. He has been arrested and will now face enforcement ...17 hours ago
- Better support for victims of sexual violence
The Government is proposing two major changes to name suppression laws that will put the views of victims of sexual violence first, Justice Minister Paul Goldsmith says. “We are committed to restoring law and order and these two proposed changes will help ensure the victims of crime are put at ...17 hours ago
- Government moving forward with Regional Deals
Cabinet has agreed to invite all regions to submit proposals for Regional Deals between central and local government that drive economic growth and deliver the infrastructure our country needs, Local Government Minister Simeon Brown and Infrastructure Minister Chris Bishop say. Inviting all regions to propose a Regional Deal that boosts ...18 hours ago
- MSA pilot participant update
One of the ten young men selected to participate in the Military-Style Academy Pilot has allegedly reoffended. Children’s Minister Karen Chhour is disappointed but says it would be naïve to think that none of these young men would reoffend. “I’m saddened that this young person has not taken this opportunity ...18 hours ago
- Attendance rates increase, again
Associate Education Minister David Seymour says that school attendance is continuing to rise. In Term 3 of 2024 51.3 per cent of students attended school regularly, an increase of 5.3 percentage points from 46 per cent in Term 3 of 2023. “This Government has prioritised student attendance and it is ...20 hours ago
- Improving the lives of young New Zealanders
Ensuring New Zealand is the best place in the world for children and young people is the vision at the heart of the Government’s new Child and Youth Strategy, Child Poverty Reduction Minister Louise Upston says. “Childhood represents a huge opportunity to set people on a positive path towards living ...23 hours ago
- Government continues work to reinstate livestock exports by sea
The Government is reinstating the trade of livestock exports by sea while ensuring the highest standards of animal welfare, says Associate Minister of Agriculture Andrew Hoggard.“The Government will introduce legislation changes to reinstate the trade, enhance oversight, and strengthen requirements for exporters to identify risks and manage the welfare of ...2 days ago
- Speech to the National Quality Forum 2024
Tēnā koutou katoa – it is a pleasure to be here today. I would like to begin by acknowledging the important leadership role you all play in ensuring a quality health system New Zealanders can trust. There is enormous clinical expertise in this room covering a wide range of disciplines. ...2 days ago
- New Zealand’s COP29 National Statement
Tēnā koutou katoa. Mr President, Excellencies, Delegates. New Zealand, and all nations represented here today, are already dealing with the impacts of climate change. Our households, businesses, and economies are bearing the costs of its effects. The choices we make now will shape the severity of these impacts for generations ...2 days ago
- Latest Quarterly Investment Report released
The Government has released its second Quarterly Investment Report (QIR) which shows substantial work still to be done by agencies to improve investment reporting and meet the Government’s expectations, Infrastructure and Acting Finance Minister Chris Bishop says. “New Zealand has significant infrastructure and investment needs. The Government is determined to get ...2 days ago
- New Zealand supporting loss and damage fund
Climate Change Minister Simon Watts announced New Zealand will contribute NZ$10 million to the new Fund for Responding to Loss and Damage while at the annual United Nations Climate Change Conference (COP29) in Baku, Azerbaijan. “New Zealand is joining the global effort to address the significant challenge of responding to ...2 days ago
- Gang crackdown begins at stroke of midnight
The free ride for gangs is over when the clock strikes midnight tonight, with tough new laws officially coming into effect, Justice Minister Paul Goldsmith and Police Minister Mark Mitchell say. “Gang patches will no longer be able to be worn in public. To earn the right to wear a ...2 days ago
- LGFA increases borrowing capacity to support high growth councils
The Government is welcoming the decision by the Local Government Funding Agency to increase access to financing tools for fast growing councils to support greater investment in critical infrastructure, Local Government Minister Simeon Brown says.“Communities across the country are facing an infrastructure deficit and significant population growth is projected in ...2 days ago
- Temporary Traffic Management costs revealed
The Government has revealed that over the past three years, the New Zealand Transport Agency (NZTA) has spent an eyewatering $786 million of taxpayers’ money on road cones and temporary traffic management (TTM), Transport Minister Simeon Brown says.“When I became Minister, I was surprised to learn that that NZTA did ...2 days ago
- Jurisdiction of Disputes Tribunal to double
Legislation that will double the financial jurisdiction of the Disputes Tribunal from $30,000 to $60,000 has passed first reading in Parliament today, Justice Minister Paul Goldsmith. “We need to improve court timeliness and access to justice so that Kiwis and get on with their lives. Court delays affect everyone, the ...3 days ago
- Protecting New Zealand from foreign interference
Legislation that will specifically criminalise foreign interference and strengthen espionage offences has passed first reading in Parliament today, Justice Minister Paul Goldsmith says. “It is normal and appropriate for states to interact and work to influence one another. This encourages cooperation and can have mutually beneficial outcomes. “However, the reality ...3 days ago
- Significant milestone for Canterbury Road of National Significance
Transport Minister Simeon Brown has welcomed news that the NZ Transport Agency (NZTA) Board has approved funding towards pre-implementation and early works on the State Highway 1 (SH1) Belfast to Pegasus Motorway and Woodend Bypass Road of National Significance (RoNS). “Reaching this significant milestone is a reflection of our Government’s ...3 days ago
- Health survey results to help drive change
Health Minister Dr Shane Reti says findings from the annual Health Survey highlight the need to continue driving better health outcomes for New Zealanders. The New Zealand Health Survey is an annual snapshot of key metrics measured from July 2023 – July 2024. Findings released this morning include: In 2023/24, ...3 days ago
- Final push needed to get to Smokefree 2025
A renewed effort to get people to quit smoking will build on what has worked to date and target the groups who most need support, Associate Health Minister Casey Costello said today. “The latest New Zealand Health Survey results show the daily smoking rate at 6.9 per cent and we ...3 days ago
- New diplomatic appointments
Foreign Affairs Minister Winston Peters has announced four new diplomatic appointments. “Our diplomats play an important role in ensuring New Zealand’s interests are maintained and enhanced across the world,” Mr Peters says. “It is a pleasure to announce the appointment of these senior diplomats from the Ministry of Foreign ...3 days ago
- Next steps for Regulatory Standards Bill
Regulation Minister David Seymour has today announced the next steps in the Government’s plan improve the quality of regulation by opening consultation on a proposed Regulatory Standards Bill. “New Zealand's low wages can be blamed on low productivity, and low productivity can be blamed on poor regulation,” says Mr Seymour. ...3 days ago
- Red Tape Tipline goes live
Minister for Regulation David Seymour has today announced that the Ministry for Regulation’s Red Tape Tipline is now live. “We want to hear about your red tape horror stories. From today, New Zealanders will have a say on how they are regulated through an online portal,” says Mr Seymour. The ...3 days ago
- Youth Parliament 2025 announced
The Minister for Youth Matt Doocey has today announced the eleventh Youth Parliament will be taking place in 2025. “Youth Parliament offers a unique youth development opportunity to young people from across New Zealand to experience the political process and learn about how government works,” says Mr Doocey. “The two-day ...4 days ago
- Police stats show promising change
After nearly a year in Government, Kiwis have seen significant change across law and order with promising early results shown across some Police statistics, says Police Minister Mark Mitchell. “In August 2023, I told New Zealanders that if they had not started to see a change in public safety within ...4 days ago
- Better coordination of anti-scam efforts
With the launch of Fraud Awareness Week, the Government is committing to new coordination efforts across industry and government to combat online scams, Commerce and Consumer Affairs Minister Andrew Bayly says. “Online financial scams are a growing problem for New Zealand. New data released today shows that Kiwis lost nearly ...4 days ago
- Minister to consider 7AA select committee report
Minister for Children Karen Chhour will consider the recommendations made by the Social Services and Community Committee in its report back to Parliament on the Oranga Tamariki (Repeal of Section 7AA) Amendment Bill. “I want to thank the people who made submissions and those who appeared before the committee in ...4 days ago
- Defence Minister to attend ASEAN meeting
Defence Minister Judith Collins will this week attend the Association of Southeast Asian Nations (ASEAN) Defence Ministers’ Meeting-Plus in Vientiane, Laos. “We need to take every opportunity to engage with our international partners, given the increasingly unstable geo-political situation,” Ms Collins says. “New Zealand has a long-standing commitment to this ...4 days ago
- Launching the White Ribbon Ride
The Minister for the Prevention of Family and Sexual Violence, Karen Chhour, was on hand to wish riders well at the start of the North Island leg of the White Ribbon Ride in Whakatāne this morning. The ride helps mark the International Day for the Elimination of Violence against Women, ...5 days ago
- Construction to begin on next stage of Papakura to Drury
Construction on the next stage of the SH1 Papakura to Drury project will begin early next month, with the contract for works awarded to Fulton Hogan, Transport Minister Simeon Brown says. "SH1 Papakura to Drury is a key project that will drive economic growth and productivity, reduce congestion, and enable people ...6 days ago
- NZ signs trade deal with Costa Rica, Iceland and Switzerland
Trade and Agriculture Minister Todd McClay has signed a pioneering trade agreement that prioritises New Zealand’s sustainable exports at a ceremony during APEC in Peru today. “The Agreement on Trade and Sustainability (ACCTS), between Costa Rica, Iceland, and Switzerland was concluded in July of this year and opens up significant ...6 days ago
- Government and iwi work together on aquaculture
Five new Aquaculture Settlement Areas will help ensure Ngāi Tahu shares in the opportunities aquaculture offers for Southland’s economy, Oceans and Fisheries Minister Shane Jones says. “The Aquaculture Settlement Areas (ASAs) I’m announcing today set aside space so the Crown and Ngāi Tahu can assess their potential for aquaculture development. ...7 days ago
- Government launches review to ensure electricity market is fit-for-purpose
The terms of reference for a review of the performance of the electricity market have been released. The review, initiated by the Coalition Government during the power crisis in winter will look at whether current regulations and market design support economic growth and access to reliable and affordable electricity, Energy Minister ...7 days ago
- Speech to Social Investment Hui: Jack and his whānau need our help
Kia ora koutou katoa. Nau mai, haere mai, piki mai. Ki te mihi atu ahau, ki te manwhenua nei, Te Atiawa, Ngāti toa rangatira, tēnā koutou, tēnā koutou, tēnā koutou katoa. Thank you, Andy, for your introduction. Let me acknowledge you as the new Chief Executive of the Social Investment ...7 days ago
- Minister of State for Trade heads to Brisbane for PACER Plus meeting
Minister of State for Trade Nicola Grigg has travelled to Australia to attend the PACER Plus Ministers Meeting in Brisbane. “Trade plays a critical role in driving employment, economic growth, and improving the standards of living in the Pacific Region. The Government is strongly committed to supporting Pacific Island countries ...7 days ago
- Proposals to modernise conservation released
Toitū te taiao – Our environment endures The Government is consulting on proposals to modernise New Zealand’s conservation management system, aiming to protect relevant natural areas while supporting sustainable growth in tourism and regional economies, Conservation Minister Tama Potaka says. “Today, the Department of Conservation – Te Papa Atawhai is ...7 days ago
- Government slammed for pushing ahead with boot camps while trial still under way
The coalition has "absolutely no intention of listening to the evidence that comes out of their experiment", Labour MP says. ...39 minutes ago - Smoke and mirrors in heated tobacco debate
Labour claims Government is ‘cherry-picking’ smoking trends data to hide decade-first increase in daily smokers The post Smoke and mirrors in heated tobacco debate appeared first on Newsroom. ...43 minutes ago - Treasury bangs the drum on ‘unsustainable’ superannuation
The Government’s economic adviser is sending a message it doesn’t want to hear – superannuation is increasingly unaffordable The post Treasury bangs the drum on ‘unsustainable’ superannuation appeared first on Newsroom. ...57 minutes ago
- Victims of sex offending welcome shift on name suppression laws
A man abused by a former political figure is "immensely relieved" at a government proposal to end secrecy around sex offenders' identities. ...1 hour ago
- This week three parties stood together – can they withstand the storm to come?
There is plenty yet to play out, but the next election is at this rate shaping up as trio versus trio, writes Toby Manhire. A subplot of this week’s historic hīkoi mō te Tiriti has been the sight of the three opposition parties presenting a unified front. Te Pāti Māori ...1 hour ago - All 33 malls in Auckland ranked from worst to best
From the low lows of abandon empires to the high highs of a mall done just right. This is the second in the Malls of New Zealand series, where we rank the malls in major centres. Next week: Wellington. A note from the editor: This is the hardest ranking we’ve ...1 hour ago
- The cost of being: A clothes-mad 20-something who walks everywhere
As part of our series exploring how New Zealanders live and our relationship with money, a 27-year-old apartment-dwelling marketing exec explains her approach to spending and saving. Want to be part of The Cost of Being? Fill out the questionnaire here. Gender: Female. Age: 27. Ethnicity: Pākehā. Role: Marketing exec at ...1 hour ago
- Nuclear winters know no borders
Opinion: The immediate horror of nuclear weapon explosions – the blinding flash, crushing blast wave, and radioactive inferno – is well documented.But what nuclear-armed nations either don’t grasp or won’t admit, is far more chilling: how their weapons could devastate even countries thousands of kilometres from any mushroom clouds.The collapse ...1 hour ago
- This week’s bestselling books – November 22
FICTION1 Kāwai: Tree of Nourishment by Monty Soutar (David Bateman, $39.99)Sample dialogue, all from one chapter:“That can’t be,” replied Taona doubtfully.“You were right. The pā is unnervingly quiet,” Taona murmured.“The Hākuwai,” Motukia breathed. “Our grandfathers told us they rarely saw the Hākuwai in daylight,” Motukia muttered.“Their fight would have been futile ...1 hour ago
- Burma the flying elephant
After about two and a half years of planning and waiting, New Zealand’s last elephant has moved to her new home at Monarto Safari Park in South Australia.Burma and her “human herd”, that is, her keepers, arrived last week, and she’s settling in well, according to Auckland Zoo’s Andrew Coers.“Something ...1 hour ago
- NZ’s membership of Beyond Oil and Gas Alliance in jeopardy
Senior ministers in the coalition suggested NZ’s membership will be re-evaluated if it restarts offshore oil and gas drilling The post NZ’s membership of Beyond Oil and Gas Alliance in jeopardy appeared first on Newsroom. ...1 hour ago
- Raw Politics: Six months in a leaky Bill
Prime Minister Christopher Luxon did not meet the Treaty Principles Bill hikoi crowd, sees “nothing” of merit in the Act-proposed law but the Parliament his Government dominates will spend six months debating a “divisive” measure.That’s because he has accepted there needs to be “aeration” of people’s views on the Treaty, ...1 hour ago
- Taken to the brink, Govt is now close to selling big Whakapapa ski field
Bidder Whakapapa Holdings walked away from the sales process last year, but says it’s now ‘95% there’ on a purchase agreement – so who blinked first? The post Taken to the brink, Govt is now close to selling big Whakapapa ski field appeared first on Newsroom. ...1 hour ago
- Newsroom daily quiz, Friday 22 November
Loading…(function(i,s,o,g,r,a,m){var ql=document.querySelectorAll('A[data-quiz],DIV[data-quiz]'); if(ql){if(ql.length){for(var k=0;k<ql.length;k++){ql[k].id='quiz-embed-'+k;ql[k].href="javascript:var i=document.getElementById('quiz-embed-"+k+"');try{qz.startQuiz(i)}catch(e){i.start=1;i.style.cursor='wait';i.style.opacity='0.5'};void(0);"}}};i['QP']=r;i[r]=i[r]||function(){(i[r].q=i[r].q||[]).push(arguments)},i[r].l=1*new Date();a=s.createElement(o),m=s.getElementsByTagName(o)[0];a.async=1;a.src=g;m.parentNode.insertBefore(a,m)})(window,document,'script','https://take.quiz-maker.com/3012/CDN/quiz-embed-v1.js','qp');Got a good quiz question? Send Newsroom your questions.The post Newsroom daily quiz, Friday 22 November appeared first on Newsroom. ...1 hour ago
- Daily crossword, Friday 22 November
The post Daily crossword, Friday 22 November appeared first on Newsroom. ...1 hour ago
- China likely to strengthen regional relationships in response to another Trump term
Opinion: Recent discussions in Shanghai provide some insight into what’s likely to be on the table The post China likely to strengthen regional relationships in response to another Trump term appeared first on Newsroom. ...1 hour ago
- Watts nears a landmark deal on global carbon trading
A framework for global carbon trading under the Paris Agreement is finally nearing completion at COP29 in Baku, Azerbaijan after years of halting talks.Climate Change Minister Simon Watts is one of two ministers tasked by the COP29 hosts with landing a long-sought deal on Article 6 of the climate accord, ...2 hours ago
- Grattan on Friday: Marles plays a defensive bat on nuclear as the government rushes to get though la...
Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra Richard Marles is an ambitious man who hasn’t given up the dream of one day reaching the top job. But, despite being deputy prime minister, his profile is much lower than that of Treasurer Jim ...7 hours ago - NEW POLL: Kiwis Overwhelmingly Support MPs’ Expenses Transparency Law Change
62% of respondents support the extension of the OIA to cover MPs’ spending, compared to just 13% opposed and 24% were unsure. ...9 hours ago - The House: Meanwhile, a week of passing law
The political week has been packed with worthy distractions, but all week Parliament has focused on passing new laws. Here are the highlights. ...9 hours ago
- The biggest difference between Hīkoi mō te Tiriti and past hīkoi: More support from non-Māori
Analysis - The diversity of voices during the hīkoi was noticeable - from tangata moana to young immigrants to elderly Pākehā from the South Island. ...10 hours ago
- The House: Samoan citizenship restoration – ‘It means we belong to this land’
When the bill to restore NZ citizenship to some Samoans passed this week, Parliament's galleries were full to the brim with members of the community. ...11 hours ago
- More Delays In Action On Use Of Puberty Blockers With Children
Women’s Rights Party Co-leader Jill Ovens says the Ministry has put New Zealand children at risk by continuing to allow “off-label” prescribing of puberty blockers at far higher rates than other similar countries. ...11 hours ago
- Police Minister adamant he wasn’t aware of gang members training at gun clubs
That is despite two papers from police that raised the matter with him. ...12 hours ago
- Shorten declares himself ‘a proud moderate’, saying Australians ‘in the middle’ shouldn’t ...
Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra Bill Shorten has declared himself “a proud moderate” in a valedictory speech declaring parliament has the responsibility to ensure the extremes of left and right do not set the terms of political debate. Shorten, ...12 hours ago
- New ‘best practice’ principles for superannuation products are coming. We asked a panel of exper...
Source: The Conversation (Au and NZ) – By Matt Garrow, Editorial Web Developer Studio Romantic/Shutterstock We all know how important it is to save enough money for retirement – but what about spending it wisely when we get there? Even for those who have built up a suitable ...12 hours ago
- Government accused of betraying Kiwis’ trust over lack of consultation on live exports
The government has always vowed to reinstate live exports by sea, which was banned by the previous Labour government. ...13 hours ago
- 7 things you can do if you think you sweat too much
Source: The Conversation (Au and NZ) – By Michael Freeman, Associate Professor of Dermatology, Bond University ERIK Miheyeu/Shutterstock Sweating is our body’s way of cooling down, a bit like an internal air conditioner. When our core temperature rises (because it’s hot outside, or you’re exercising), sweat glands all ...13 hours ago
- Phenergan for under 6s is now banned due to hallucination fears. Here’s what to use instead
Source: The Conversation (Au and NZ) – By Nial Wheate, Professor of Pharmaceutical Chemistry, Macquarie University Australia’s drug regulator has issued a safety warning over the medicine Phenergan and related products containing the antihistamine drug promethazine. The Therapeutic Goods Administration said the over-the-counter products should not be given to children ...13 hours ago
- A new stage adaptation of Peter Carey’s Jack Maggs is a delightful homage to theatrical storytelli...
Source: The Conversation (Au and NZ) – By Catherine Campbell, Lecturer, Performing Arts, UniSA Creative, University of South Australia Matt Byrne/STCSA Jack Maggs is a delight and a homage to theatrical storytelling in Australia. Based on Peter Carey’s bestselling novel, Jack Maggs follows the ex-convict as he lands ...13 hours ago
- The government has introduced laws for its social media ban. But key details are still missing
Source: The Conversation (Au and NZ) – By Daniel Angus, Professor of Digital Communication, Director of QUT Digital Media Research Centre, Queensland University of Technology Ron Lach/Pexels The federal government today introduced into parliament legislation for its social media ban for people under 16 years. Communications Minister Michelle ...13 hours ago
- Archives NZ, National Library to cut 27 roles
The Department of Internal Affairs wants to bring the two organisations under the joint leadership of the Chief Archivist and National Librarian. ...13 hours ago
- Gang patch ban: Members warn of potential for violence to ‘erupt’ as new laws enforced
"I can't see this lasting unless they have a budget to lock fullas up in jail which I think is absolutely stupid, really it's ludicrous," Ngavii Pekapo, who set up a Mongrel Mob chapter 54 years ago, says. ...14 hours ago
- ACT leader David Seymour raises doubts about Waikato medical school
Government documents show ACT leader David Seymour told the government he was "dissatisfied" with a cost-benefit analysis. ...14 hours ago
- National’s Erica Stanford allegedly calls Labour’s Jan Tinetti a ‘stupid bitchR...
The Education Minister has apologised in Parliament for her remark. ...14 hours ago
- Labour backs new Police Commissioner – but warns against routine arming
The alternative to policing by consent would be a police state, which New Zealanders don't want, the party says. ...15 hours ago
- Youth on boot camp pilot re-offended five weeks after release
Children's Minister Karen Chhour said while it was disappointing, it would naïve to think none of the participants would lapse. ...16 hours ago
- In photos: People of the hīkoi, and why they marched
Hikoi mō Te Tiriti has come to an end, going down in history as the largest march to Parliament in Aotearoa. ...16 hours ago
- ‘Everything is becoming a culture war’: Jon Ronson on conspiracies and cycleways
Ahead of his appearance in Aotearoa, the acclaimed British journalist, podcaster and documentarian talks to Stewart Sowman-Lund about why people are still fascinated by the fringes. The last place I would expect to find Jon Ronson is relaxing in the countryside. The iconic British journalist and writer is best known ...16 hours ago
- Kia kaha Lebanon: NZ media only tell half your story of struggle
The United States has vetoed a UN Security Council ceasefire resolution — for the fourth time — in Israel’s war on Gaza, while Hezbollah demands a complete ceasefire and “protection of Lebanon’s sovereignty” in any deal with Israel. Amid the death and devastation, Joe Hendren reflects on his time in ...17 hours ago
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When this was discussed in the House yesterday, Jacinda batted Simon about the place like a chew-toy.
Simon does as the National Party always does. Tax cuts. And faith based health care for those that can't afford anything better. Heck, if he gets is marching orders from like minded people in the US for example than he will know that Mitch McConnell is holding up a bill in Senate (approved by R and D in Congress) because it does not allow for profit making for the poor Pharmaceutical Companies.
But what is Labour doing really?
https://www.rnz.co.nz/news/national/410936/coronavirus-govt-moves-to-remove-income-support-stand-down-period
Well tickle me silly, but it is really really reassuring that they do know that people without jobs and money face pretty dramatic hard ship. Yei!
Well they may know that hardshipt is cause by lack of money, but you just got a 3% increase starting in 6 weeks, thats an extra 10.44 on average before tax (yes, beneficiaries pay taxes on their earnings) and that is gonna do a huge difference in the local economy when they are using these $ 8 dollars after tax to buy two loaves of bread.
Brother, have you got some spare cash laying around to pay for two to several weeks for of 'self – isolation' (a much friendlier term then quarantine), have you got some spare cash for food while you 'self – isolate'? Enough to buy pampers? Baby food, n such? Or should they apply for a hardship grant that they then can spend the next 10 years repaying $ 5 a time?
Again, i don't care what Simon does, he will do as he always did, sprout some nonsense. But i would like to know what our current suits have planned for us, and sadly the 3% increase for beneficiaries will not create a wee trickle to keep small businesses afloat, nor will it push the beneficiaries into a better space.
So Micky, here is a challenge, write a long long post, with lots of supporting material about the Government response to a. how will self isolation aka quarantine be managed, how will the government deal with Landlords that want to evict people who fell behind with the rent cause 'self – isolation', how will the Landlords deal with electricity companies that want to cut of the juice to people who may not have enough money to eat, pay rent, and utilities while 'self – isolating', who will the government deal with people who may not have enough money to buy food to 'self – isolate'.
As for the tax cuts, Labour and the coalition could have choosen to make the first 15 – 20.000 $ of income tax free and thus would have been able to shut Simon down, but they did not. But yeah, a 3% increase in benefits and a dollar increase in the min wage. To little to live, to much to die on.
Minor point – tax on benefits and super is calculated on the net figure, so an increase in those rates automatically includes the additional amount required to cover the additional tax.
Agree that the rates need to be much high though.
We would need to see the latter first. And they had better not dick around until May cos election year Budget.
Tax cuts are an effective way of getting more money immediately into people’s pockets. If properly designed just about all taxpayers will get more money. The intent being that they spend and boost economic activity beyond what might otherwise happen. Much easier to do than just about anything else.
It is typical of the Left that this logic escapes them.
Obviously it is not the only thing that should be done, but it is one of the main tools in the governments tool kit if they want to boost economic activity. And in the current circumstances it is pretty clear that economic activity needs an immediate boost.
Raising the minimum wage and wages in general would be more effective would it not?
I mean for ordinary people, not managers and corporate dillettantes.
Raising the minimum wage sees the cost passed on to employers of those staff. While many employers of minimum wage staff can afford a more equitable distribution of business income the impact of the fall in economic impact is not being compensated. So no, an increase in the minimum wage is not going to have more impact than a well targeted tax cut. In practice studies have found it hard to measure the economic impacts due to minimum wage changes.
A tax cut increases wages in general of course.
As I recall, in Australia during the GFC, the Rudd government simply sent everyone $1,000. Presumably everyone over 18.
The intent being to get people to spend. It worked. In NZ that would be around a $3 billion expenditure. Very simple to do, in the same way as a tax cut is simple.
Probably not yet the time to do something like that. The current emergency is not dire enough.
But it might be in the next month or so. It could be done as part of the Budget, when it might be very necessary.
Given that the IRD just got rid of cheques it would be a CF, it would take months to get everyone's bank details down so that they could send the money (rather than a 2 day print/mail run of cheques)
IRD has most people's bank account numbers already, and no doubt a news story would get a few more.
If got a $ 1000 from the government it would go straight into my shearsies account .
What did they spend their 1000 on?
So called 'consumer confidence' relies on them buying on credit,believing they can pay off their debt.
Funnily enough with record low official interest rates,credit card rates are still in the mid to late 20's.
Raising the minimum wage would have the complete opposite effect of helping the economy. It would hit the retail and hospitality sector hard. These are the very businesses (often small businesses) that are struggling as demand dries up.
That is why an emergency like this requires government to either spend more, and/or reduce the tax take. If the Left don't like a tax cut, then a one off payment to all adults would also work. That is what the Aussies did in 2008 in response to the GFC.
Wayne
You don’t appear to know much about the minimum wage.
Here are the thoughts of two economists soon after the Employment Contracts Act was passed by your mates.
“much of the political justification for the new legislation has been based on a simplistic model of labour market adjustment. This has led to the assertion that the new regime will increase productivity. In particular, the Minister of Labour argued that productivity would be enhanced by removing the restrictive work practices of the award system (New Zealand Herald, 21 January 1991, p.6). However, apart from anecdotes of dubious significance, there seems to be little evidence to support such a proposition (Harbridge, 1990). Traditionally, a significant proportion of employers provided employment on terms and conditions over and above those stipulated by the award. Only a minority of employers, often the very worst, were actually constrained by the award system. This is backed up by a recent survey which indicated that many small employers felt contented with the previous system of industrial relations. The researchers argue that ‘…most of these [surveyed] employers function basically unencumbered by unions or the labour relations system. This majority are untroubled by the national award system’ (McAndrew and Hursthouse, 1991, p.9).”
https://ojs.victoria.ac.nz/nzjir/article/download/3105/2760
We are talking an emergency situation here where the economy is contracting, not a BAU situation. That is why increasing the minimum wage would be the wrong approach in the current circumstances.
What are the circumstances in which raising the minimum wage is the right thing to do?
A payment to NZ's poorer people but not the richer ones would be more bang for buck. Will all be spent promptly and locally.
Bull. Right wingers seem to totally misunderstand anything more than simplistic answers.
Raising wages helps local businesses. One. Because most of the low wage payers are not local. Big box stores and the like. Two. Because local employees are also local customers.
Getting rid of GST, is also beneficial to local business.
The effect on small business, of welfare payments to a community was proven with the effects on Northland and businesses of Richardson's welfare cuts. To state just one of myriads of examples.
We are still paying for National's tax swap, in decaying infrastructure, insufficient housing, failing education, the health and social effects of poverty and the breakdown of social cohesion.
Tax cuts for the already rich, and lowering wages and welfare, doesn't work. Trickle down is a proven failure.
I believe you if I thought for a second that bridges understood that giving a $1000 tax cut to a high earner will not achieve an increase in domestic spending . And that giving a $5 tax cut to low earners will also achieve fuck all .
Agree. Mickeys post imports a wide range of fallacies and even at points contradicts what the quoted authors say to layer in additional fallacy beliefs.
It is typical of the Left that this logic escapes them.
A tax cut typically benefits the wealthy more than any other group. I note that you didn’t try to argue why the wealthy should get a handout from the government.
Thank you, Ross. The truism that all tax cut proponents ignore – because they are righties who always favour the Rich.
If you cut taxes every time there is a virus or a downturn you'll soon be at zero tax.
It's very difficult for governments to raise taxes if they want to stay in government and so it would be very difficult to raise taxes once the emergency had passed.
The last time National were in government they made an art form out of gutting social services and they would do so again with bells on if they had less revenue with which to do their job.
"It's very difficult for governments to raise taxes if they want to stay in government and so it would be very difficult to raise taxes once the emergency had passed."
Perhaps they should take a lesson from local government ?
"Tax cuts are an effective way of getting more money immediately into people’s pockets."
Unless those people happen to be on benefit. We should remind ourselves that not only have benefits not been kept at a reasonable level not a single tax cut over the years has benefitted them.
In Wayne's world beneficiaries are clearly not people.
Fuck me if two Royal Commissions, Helen Clark's duplicity in putting Ruth's cuts back on NZS but not benefits which could easily be righted as the NZS fix sets a precedent, a WEAG report, a crisis that needs the local economy stimulated, rising rents, loads of support from advocates and media to do so doesn't give this Labour Government licence to immeadiately increase benefits what the fuck will?
Oh that's right they are too busy removing the rights of superannuitants to include their underage partners and taking 25% of the benefit off vulnerable people in emergency housing. They are actually reducing peoples benefits.
What a bunch of wankers Wayne and Labour. Fucking tax cuts when we have so much poverty around for our most vulnerable.
But you know you got to be cruel to be kind!
Oh, I can’t take another heartache
Though you say you’re my friend
I’m at my wits’ end
You say your love is bona fide
But that don’t coincide
With the things that you do
Trump's on the same page. Tax cuts.
Raising Government spending, on infrastructure, welfare, housing, health and education, is an even more effective way of "getting money into peoples pockets" which has long term beneficial effects for everyone.
Unlike percentage tax cuts, which reduce Governments ability to act and, like percentage wage rises, increases the inequality gap, and the amount of people without enough to live on.
Same old, same old, tax cuts for the greedy,
fuck-all for the needy
The last time they tried that they increased GST!!!!
Would be a good govt policy to cut GST by around 2.5 to 5%, I think.
I agree Nationals TAX NEUTRAL tax cuts slowed the recovery from the GFC.
I don’t know if this is technically feasible but what do you think of a temporary GST cut, e.g. for one year? It would encourage spending more within that period because of “available for a limited time only!”.
Do you support flat taxes, which hurt the poor? You understand the economy can work without flat taxes, which hurt the poor? That the economy for much of the 20th Century did not have a flat tax, which hurt the poor?
So why did you imply it was not "technically feasible" do support taxing the poor more via a flat tax? The only other thing I can think of is technocrate shitfuckery, and your not into technocrat shitfuckery are you incognito?
If your offended – follow the link
I was going to reply about flat tax and GST but I don’t want to pre-empt a response by Nic the NZer whose opinion I do value, especially on these kinds of matters, which is why I ask him. Further, I asked a specific question to which I and obviously neither you don’t know the answer.
That said, you seem to have a problem with reading and interpreting comments from others and your comments with shitfuckery strawmen (and) about imaginary strawmen are getting tedious.
If your offended – follow the link
Possible of course. Its important to understand that the govt is never short of money, its always a question of the govt being short the other side of the balance sheet (the ability to command real resources) and we should structure taxes to reflect that concern primarily.
Why did the Key Govt borrow around 80 billion if they are never short of 'money'?
Is borrowing to fund tax cuts a good idea?
Who did they borrow the money off?
Govts borrow to maintain monetary policy. When they spend the reserves (what they spend) end up held by NZ financial instititions participating in the interbank market. After a lot of spending then there may be more reserves than needed there. The result typically will be the 90-day interbank rate starts to fall towards zero and away from the RBNZ monetary policy rate (these are both shown on the same chart by the RBNZ). So the govt locks the spending up in longer term debt (but paying a higher interest rate than interbank lending) allowing the RBNZ to conduct monetary policy. So the govt debt ends up owed to large NZ financial institutions but ultimately in some sense deposit holders at those institutions.
But, the govt can't be short financially as it runs the payments system.
Also you should not think too strongly of the govt directing the economy on the finance side, its much more that the economy dictates to the govt what shape its budget will be in.
National had little choice about the scale of post GFC deficits, the govt tax collection just fell away and expenditures went well up.
The mechanisms here are called automatic stabilizers for that reason. The stronger they work the more stable the countries longer term economic performance will be.
Adam kind of has a point too, though he could be more polite about it. The country has never had to have a GST tax that has always been a choice. 2.5% to 5% is just a small safe change which I see being possible.
Ok, thanks.
It seems there are many similarities between the GFC and the unfolding COVID-19 crisis. However, there are differences too and I don’t know if the same (kinds of) measures should be considered and/or are equally effective (or ineffective as they may). COVID-19 seems to be more of a ‘moral crisis’ at this stage, at least in NZ.
To get back to Adam’s poorly worded comment, GST might be a flat tax in terms of consumption. Strictly speaking, the consumer don’t pay (the) GST; they get it passed onto them. However, when viewing GST/consumption in relation to income, it can be seen as a regressive tax.
Whether there’s a need for GST or not is a moot point IMO; the current rate is 15%. In relation to effective measures to deal with the economic impact of COVID-19, scrapping GST altogether is not on the cards.
A GST cut for a fixed period of time will affect the Government books for a limited time, although the effect might have a long tail.
The reason for the similarities are easy to understand. So far we are just talking about a fall in overseas demand so fiscal policy is a response.
If you look at the sectoral balances break down of GDP you can simply understand why GDP falls in response to this shift in trade and also why a corresponding shift in the govt fiscal balance (maybe via a tax break) can compensate that shift. The main difference from the GFC being there was also a significant shift in spending inside the domestic sector of the economy which caused GDP to fall in that case.
The main difference was the focus of the fear; not all fear is the same and experienced by the general population (AKA ‘average Joe/Jane’). Investment dries up vs. consumption dries up; different drivers.
Your response has confined the debate within the limited scope of liberalism. In the realms outside liberalism, there is whole other ways to look at economics. Ecological, mutualism, worker directed, just to name a few.
I thought you were the great defender of expanding debate Incognito, you have done nothing but shut it down by embracing the conservative narrative of liberalism.
How does that help working people? My poorly worded shitfucker made a joke of you already walking down that path. Hence why I keep asking, why do want to hurt poor people – half in jest and half seriously.
And there's the rub, that is the core problem with liberalism, it so normal most people can't even see when they use is it. And the point of the left, in MHO is to enhance the lives of those without power, and liberalism can't do that.
So rather than cut you off at the pass, I failed, and for that I apologise. For you taking offence – well not much I can do about that. Except to say – be offended – it won't kill you. To soon with my sardonic wit??!?
Sometimes, a specific question is just a specific question.
There’s no point trying to play chess with Don Quixote because to him all pieces look like windmills.
Nic,
Complete nonsense. New Zealand was one of the first countries to come out of the GFC and the tax package was one of the reasons.
According to Bill English it had net zero tax impact. So it can't have worked like Australias response (as you alluded to above). So the evidence is entirely consistent with NZ just having a relatively small collapse due to the GFC.
Swapping higher band PAYE where the stimulus goes into savers pockets for GST which impacts all spenders is also clearly likely to slow the economy of course.
Of course I didn't say the National party caused the NZ GFC recession with its tax swap however that would be consistent with multiple examples now of Japanese sales tax hike induced recessions.
New Zealand was one of the first countries to come out of the GFC and the tax package was one of the reasons.
The main reason was that in NZ the effect of the GFC was relatively small.
“In August 2008, the New Zealand Treasury announced that the country had entered into a recession. The economy had declined by 0.3% in the first quarter of 2008…The economy emerged from recession in mid-2009, with the second-quarter GDP report showing the economy grew by 0.1 per cent on the March quarter.”
https://www.canstar.co.nz/home-loans/global-financial-crisis-what-caused-it-and-how-the-world-responded/
“In New Zealand and Australia, problems in the core banking system during the crisis were comparatively mild, reflecting our more vanilla-flavoured banking sector and relatively sound bank capital structures. There was little exposure to complex instruments and opaque
The above should read:
”In New Zealand and Australia, problems in the core banking system during the crisis were comparatively mild, reflecting our more vanilla-flavoured banking sector and relatively sound bank capital structures. There was little exposure to complex instruments and opaque interconnections in our markets.”
https://www.rbnz.govt.nz/research-and-publications/speeches/2012/speech2012-08-09
Mostly thanks to Keating's tight regulation of the Aussie banks, and Cullen's refusal to waste a surplus, on tax cuts for the rich.
Imagine if it had been National in power before the GFC. We wouldn’t have fared so well.
You've been had. Surpluses don't bolster the banking system against financial crisis at all. They also don't improve the govt ability to deal with them. What surpluses do do however is restrict NZs domestic savings rate and play well in NZ politics.
What they do, is enable Governments to spend, without being beaten up in the news by right wing reporting.
Most disappointingly due to the virus hey have shifted the release date of the new Bond movie.
Clearly it was
No Time To Die
😊
A useful question would be to ask Bridges to describe the economic conditions under which he (and all his predecessors and successors) wouldn't recommend tax cuts. The honest answer would be "none". Because it isn't an actual economic policy at all – it's an ideology. No journalist will ask that question.
In the current situation there is a case to be made for tax cuts to keep demand going in the face of Covid-19. It's a better option than another stupid interest rate cut – which will just see more virtually free money piled into the housing market – re-inflating that bubble and robbing future generations blind.
A tax cut is ok, as long as the money goes to the people who will spend it here -which means beneficiaries, the working poor and the struggling working/lower middle class. So cutting taxes at the bottom end and raising them at the top – meaning that the well-off get virtually nothing and the bulk goes to the bottom. Alternatively – cut the regressive GST. National will not do either of these things ever – because for them tax cuts is not an actual economic policy, it's an ideology.
& that is probably not what Bridges or Wayne are really wanting when they say "tax cuts!".
and if you are employed and say have no sick leave or just started and have no annual leave and are off work for a minimum 2 weeks?…..what does joe average do then……no employer or government assistance…or families where one member gets it so they all have to self isolate and they ALL are the financial contributors and say no income coming in at all…
Translation: "Just a second Mr Bridges, are you a complete fucking moron or just taking the piss?"
Translation: "I'm sorry, my script only has these glib platitudes on it so I can't answer your question."
I think you will find it's a whole bunch of tax-related things as well as projects.
I posted in Feb that this would have a big effect on the NZ economy. We started seeing this in early feb when the shortage hit IT (HP factory is directly in Wuhan). China is producing again but has a massive backlog and only shipping at low levels.
Our export sector is a bit fucked. I understand our export certs from feb are down 90%. Fontera has been dumping as well as live trade such as crayfish.
This is going to come home to roost next month.
I had to get an export entry last week, normally it takes 3-4 days from when I email our broker, had it back in 10 minutes…
The consignment to USA would have normally taken 3-5 days dispatch to delivery, it was there in 2 days. Sod all moving, anywhere.
The forestry problem is an interesting case. Even without The Virus ….aaargh…, logs would not be exported at previous levels. The wharves in China are over loaded with a huge amount of Scandinavian timber because a mild winter has seen a huge insect problem hence a lot of logging while the trees still have some value as well as emergency cropping of fire damaged trees in Australia sent to China to try and get some return from them. Combined with the normal slow down due to Chinese New Year's 3 or 4 week holiday has seen the problem multiply. There were layoffs and go slows well before the outbreak.
True reporting in this country is piss poor.
Bridges thinks the solution to everything is "tax cuts" except when it's "more roads"
An d yet these are two things that are mutually exclusive, you can't have both, you can have more roads and more taxes to pay for them, or tax cuts and drop roading maintenance to help pay for that
Tax cuts would be good though, for any reason. The government is greedy.
[I have changed the user name to the one you used last time as the one you had picked this time is already in use by a regular commenter. Please stick to one user name from now on, thanks]
Bridges thinks the solution to everything is tax cuts….and Bridges is a moron, but 45 odd percent will vote for him regardless
Bridges on RNZ this week again used his fave, 'comprehensive plan.'
I do not understand why the interviewers are too weak to ask him about National's' comprehensive housing plan' and how that went.
Simon needs to develop a comprehensive plan about how to not come across as a comprehensive fool.
SURPRISE.SURPRISE!!!!! National and especially Simon Bridges yet again seem to be 'experts' on EVERYTHING and have an ANSWER AND SOLUTION FOR EVERYTHING.
Did Simon Bridges learn from the textbook of John Key who always had an answer for everything but when questioned deeply by say John Campbell turned out to be a Speaker of Gobblygook and other Bullshit.
The NZ National Party are a train-wreck and even their leader is a mess of a person. He is not logical in thinking but then perhaps that well explains why National are in such a mess. They may as well pick which deck chair to sit on at the stern of the National Party Titanic.
And so because Simon Bridges and even David Bennett have this almost hypocritical "I am more holier than thou and so you MUST HEED MY words….." mantra in whatever they say I don't bother listening to them.
They, National, don't merit a vote because of their attitudes in speaking down to people. It's shows how arrogant they ALL are. I for one will not be voting for them at the next election. They are thoroughly and completely NASTY through and through.
Nationals new "economic plan". Same as their old economic plan. Cut taxes to the rich, sell tax payer owned assets to their cronies on the cheap, run down infrastructure, housing health and other Government services. Rely on insurance from natural disasters, and immigration, to give the illusion of economic competence.
If all else fails. Repeat lies constantly and in unison. Because if enough people repeat it, it is "true".
Wayne and Simon follow the teachings of the Gospel of St Paul (Volcker) – "The living standard of the American (or Kiwi) worker must decline".
Tax cuts, which will almost certainly starve our health and education systems of much needed revenue, is one way, of pushing down those living standards.
Perhaps reversing National's hike in the prescription medicine co pay back to $3 is an option, so people can actually afford to get their meds.
Of course, Wayne will not support that. He has long been in favour of imposing US style healthcare on this country.