Budget month

Written By: - Date published: 9:36 am, May 2nd, 2016 - 14 comments
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National’s budgets are boring affairs, but they will be hoping for some distraction from current events. For example:

Key promises a strong budget to address economic and social issues

Prime Minister John Key is signalling an ongoing enthusiasm for the job and is promising a strong Government budget this month. … “My friend Bill English has delivered eight good, responsible budgets and this one will be no different,” Mr Key said.

Seven. But who’s counting. And the “responsible” claim is debatable too.

“It will be a strong budget that has at its heart a focus on the economy, with initiatives to help ensure New Zealand achieves a strong level of growth for the years ahead,” he said. …

Blah blah blah. It will probably be another dull budget, saving the fireworks for election year bribes. But it will be fun to check the language with the ghost of budgets past. I wonder if we’ll be promised 170,000 new jobs again?

14 comments on “Budget month ”

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  1. Lanthanide 1
    2 May 2016 at 9:45 am

    Or as I previously speculated, they could unveil tax-cuts that begin on 1st April 2017, thus bedding them in before the election and forcing the opposition to campaign on repealing them.

    Other options for them:
    1. Put them in the 2017 budget and start them on 1st October, like Labour did in 2008.
    2. Put them in the 2017 budget and start them on 1st April 2018, as a reason for the public to vote for them and not the opposition.

    All of them achieve the same sort of outcome; I guess #2 saves the most money and gives them the opportunity to reverse them after the election if necessary (eg, coalition agreement with parties that have some fiscal responsibility; economy goes to crap, etc).

    • Enough is Enough 1.1
      2 May 2016 at 9:58 am

      I think they will save tax cut announcement until next year. The scope of them will depend on their polling at the time.

      If they maintain their current support they won’t be offering too much by way of bribe. They are at their peak now so can’t get more support than what they have.

      However if their numbers dip in the next 12 months, which I think we all agree is a certainty, then watch them pull out the lollies and offer considerable tax cuts in the 2017 budget.

    • b waghorn 1.2
      2 May 2016 at 12:30 pm

      With the fonterra empire collapsing it would be surprising if there’s enough tax coming from the provinces for tax cuts.

      • Lanthanide 1.2.1
        2 May 2016 at 12:34 pm

        Don’t forget the recent EQC back-peddle on how foundations need to be repaired that is going to turn into a bottomless pit of time and tax-payer money.

      • tc 1.2.2
        2 May 2016 at 6:58 pm

        Like that’s a factor, the last lot chopped over 1bill p.a. off crown revenue.

        Their last budget shifted expenses to loans as another shonky device to make it look not as bad as it really was

  2. Phil 2
    2 May 2016 at 10:53 am

    My friend Bill English has delivered eight good, responsible budgets and this one will be no different,” Mr Key said.

    Seven. But who’s counting.

    Was Bill (Birch) or Bill (English) minister of finance at the time of the 1999 budget? That might be the difference between seven and eight?

  3. Draco T Bastard 3
    2 May 2016 at 12:37 pm

    “It will be a strong budget that has at its heart a focus on the economy, with initiatives to help ensure New Zealand achieves a strong level of growth for the years ahead,” he said. …

    Translation: It will be a budget that will help the rich get richer by screwing over everyone else.

  4. Keith 4
    2 May 2016 at 5:44 pm

    What can they do, we are broke! National are borrowing money hand over fist to firstly cover the short fall in taxes, the short fall in revenue because of asset sales, running a tax avoidance scheme that is now world infamous, getting the Serco’s and Compasses of this world to provide substandard services at a massive over premium rate and an economy that is now hooked on Ponzi scheme namely property sales in Auckland.

    Any “new spending” will be part of their shell game of taking from somewhere and promoting it on something populist based on David Farrars polling and focus groups but done in such a way that it doesn’t benefit the population, that’s if the previous budgets are anything to go by. God forbid there is anything spent based on well thought out policy or direction.

    And despite a lot of figure massaging English should announce his 7th annual deficit.

  5. Tricledrown 5
    2 May 2016 at 10:47 pm

    Those Budgets have added $96 billion dollars to the National debt.
    Borrow and hope.

  6. webbrowan 6
    4 May 2016 at 8:34 pm

    I find that the talk on finance and budget and what they’re actually going to do with our money is a real drag to listen to. I mean, they talk A LOT. But the actual doing… The implementation of all these things they say we’re going to get are certainly not as enthusiastic as they claim they are going to be later on in the year in my opinion!