Business confidence verses business certainty
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- Date published:
11:13 am, August 31st, 2018 - 37 comments
Categories: articles, business, capitalism, Donald Trump, Economy, Free Trade, jacinda ardern, john key, labour, Media, Unions, wages -
Tags: brian fallow, mitch harris
Lately the news has been all doom and gloom about business confidence.
The gloom does not match the data. Rather it seems to be a fit of pique by a sector that is historically supportive of National and resentful that power has been taken away from them. The resent is peaking because of the “threat” of a living wage being implemented and because of an attempt to modestly walk back the anti union policies of the last Government. If these really are a threat to our business sector we are in big trouble.
But falling business confidence is a phenomenon and something the Government is aware of. It is the reason that Jacinda Ardern spoke recently to the business sector.
She was more gentle with her analysis and rather than criticising business for taking an ideological position she said that the lack of confidence was due to uncertainty. In her speech she said this:
When you line up business confidence with key economic performance measures over the last two governments there appears to be an inverse relationship between business confidence and the actual performance of the economy.
For instance, average business confidence scores under the Clark/Cullen Government were much lower than the Key/English Government, despite Clark and Cullen delivering higher average growth, lower unemployment, lower debt, larger surpluses and stronger wage growth than their successors.
We appear to have inherited a similar conundrum, we’ve run a strong surplus, have the best net international investment position ever recorded, stable and low interest rates forecast for some time which ought to spur investment and the lowest unemployment rate in a decade.
That then begs the question, if it’s not the overall economic indicators that is driving these figures, then what is? I have discussed this question with both business leaders and representatives, colleagues and officials. The answers I have had back are almost as diverse as the groups I have asked.
Some of those issues I will touch on today, but the overall sense I have is that it would be wrong to over simplify this survey and just call it out as being about party politics, just as it would be wrong to ignore it. It is telling us something, and that something is probably most accurately captured not by confidence, but certainty.
She is right but it is uncertainty created by negative framing and talking down of the economy. Shades of the last Labour Government’s winter of discontent.
And there has been some scathing commentary from Mitch Harris at Radiolive about confidence surveys.
Another meaningless Business Confidence Survey has been released by ANZ Bank.
These surveys are used to beat up the Government, and they can become self-fulfilling prophecies. But what are they?
They are really two surveys. They ask business managers and owners what they think of their own company’s prospects, and they ask them how they think the overall economy will perform. Most of the recipients say their own business is doing okay, but the wider economy is going to hell in a handcart.
What would they especially know about the wider economy? Running a company is not the same as running an economy. What the survey is really telling us is that a sample of mainly National voters don’t like the Government.
Most of these so-called business leaders are just bureaucrats who have climbed the greasy pole in a large corporate.
ANZ plays the bad cop; with Sir John Key as its chairperson, it constantly releases these irrelevant surveys as some sort of economic canary in the coalmine, telling us that these exceptionally gifted business people are warning us that the Government has got it all wrong.
With Kiwibuild and an intensive housing construction boom in Auckland getting ready to start the lack of confidence seems to be misplaced. And Herald business commentator, Brian Fallow, who is hardly a left winger, agrees. From his article in this morning’s Herald:
Whether or not it works as outreach to a grumpy business community, the Prime Minister’s speech on Tuesday deserves to be read.
She makes some fair points.
The first is that the despondent state of business sentiment is really not warranted by the economic indicators.
Jacinda Ardern did not labour the point in a get-a-grip sort of way. So let me.
The cycle is getting long in the tooth and the best of it is behind us but the economy is hardly falling off a cliff.
Skill shortages and other capacity constraints are biting in some sectors. Profit margins are under pressure, the labour market is tightening and the migration cycle peaked a year ago.
But the population and workforce gain from that source is still very high by historical standards and the Government is working on plans for regional skill shortage lists, recognising the shortcomings of national ones.
For consumer-facing businesses, the unhealthy combination of a wealth effect from runaway house price inflation and a negative household saving rate is being replaced, at least partly, by some actual cash income growth.
And not just from the families package which kicked in two months ago. The number of people employed grew 3.7 per cent in the year ended June and their collective weekly gross earnings were up 5.5 per cent.
Some export commodity prices may be wobbling, but the overall terms of trade — the ratio of export to import prices — is at the most favourable level on record, boosting national income. And the exchange rate has moved in an exporter-friendly direction.
So rather than relying on trickle down, rampant immigration and run away house prices the Government is trying to affect the economy in a more far sighted way. And some things such as Donald Trump’s wrecking of world trade is beyond the means even of Jacinda Ardern to control, talented though she may be.
So there is nothing for businesses to worry about. Unless your business model relies on rampant immigration and run away house prices.
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The Green Party says the Government’s new National Land Transport Programme marks another missed opportunity to take meaningful action to fight the climate crisis. ...1 week ago
- Greens call for public to back Wrybill in BOTY and beyond
The Green Party is calling on the public to support the Ngutu Pare Wrybill not just in this year’s Bird of the Year competition but also in pushing back against policies that could lead to the destruction of its habitat and accelerate its extinction. ...1 week ago
- Building consents data bad news for construction
News that the annual number of building consents granted for new homes fell by more than 20 percent for the year ended July 2024, is bad news for the construction industry. ...1 week ago
- Te Pāti Māori Pay Tribute to Kiingi Tūheitia Pōtatau Te Wherowhero VII
Papā te whatitiri, hikohiko te uira, i kanapu ki te rangi, i whētuki i raro rā, rū ana te whenua e. Uea te pou o tōku whare kia tū tangata he kapua whakairi nāku nā runga o Taupiri. Ko taku kiri ka tōkia ki te anu mātao. E te iwi ...1 week ago
- Release: Gaps still to be addressed in callouts response
The Government must guarantee New Zealanders will not be at risk after making changes to the way mental health callouts are handled. ...2 weeks ago
- Poroporoaki: Kiingi Tuheitia passing
Haere e te Kīngi o te kotahitangi Haere ki o nui, ki o rahi I te pō ...2 weeks ago
- Green Party pays respects to Kiingi Tuuheitia
The Green Party is paying tribute to the Māori King, Kiingi Tuuheitia Pootatau Te Wherowhero XVII, after he passed away earlier this morning. ...2 weeks ago
- Potaka Brings Whakaata Māori to its Knees
Today’s Whakaata Māori announcement is yet another colossal failure from Minister Potaka, who has turned his back on te reo Māori, forcing a channel offline, putting whānau out of jobs, and cutting Māori content, says Te Pāti Māori. “A Senior Māori Minister has turned his back on Te Reo Māori. ...2 weeks ago
- Release: National restricts access to disability care homes
With disability communities still reeling from the diminishing of Whaikaha, a leaked document now reveals another blow with National restricting access to residential care homes. ...2 weeks ago
- Release: Govt must help save 230 manufacturing jobs
Labour is calling on the Government and Mercury Energy to find a solution to the proposed Winstone Pulp mill closure and save 230 manufacturing jobs. ...2 weeks ago
- Govt shirks its responsibility to Whakaata Māori
The Green Party has called out the Government for allowing Whakaata Māori to effectively collapse to a shell of its former self as job cuts and programming cuts were announced at the broadcaster today. ...2 weeks ago
- NZ First Member’s Bill To Disestablish Auckland Transport
Today New Zealand First has introduced a Member’s Bill that will restore democratic control over transport management in Auckland City by disestablishing Auckland Transport (AT) and returning control to Auckland Council. The ‘Local Government (Auckland Council) (Disestablishment of Auckland Transport) Amendment Bill’ intends to restore democratic oversight, control, and accountability ...2 weeks ago - Release: PM fails in constitutional role and leadership
The failure of the Prime Minister to condemn his Minister for personally attacking the judiciary is another example of this Government riding roughshod over important constitutional rules. ...2 weeks ago
- Waititi urges Rotorua Lakes Council to immediately stop works at Lake Rotokākahi
Te Pāti Māori co-leader and Member of Parliament for Waiariki, which includes Rotorua, has written to Rotorua Lakes Councillors requesting they immediately stop sewerage piping works at Lake Rotokākahi in Rotorua. “Mana whenua have been urging Rotorua Lakes Council to stop works and look at alternative plans to protect the ...2 weeks ago
- Release: Patient care at risk from redundancies
Patient care could suffer as a result of further cuts to the health system, which could lose thousands of staff who keep our hospitals and clinics running. ...2 weeks ago
- Greens call on Govt to wake up on child poverty
The Green Party says the latest statistics on child poverty in this country highlight the callous approach that the Government is taking on this issue of national shame. ...2 weeks ago
- Release: Police are off the beat under National
Foot patrols around the country have decreased 15 percent since National took office, despite National’s Mark Mitchell claiming otherwise. ...2 weeks ago
- Release: Climate denial is an insult to Pacific leaders
Winston Peters’ climate denialism at the Pacific Islands’ Forum is an embarrassing new low. ...2 weeks ago
- Govt must end solitary confinement
The Green Party is urging the Government to end the use of solitary confinement within our prisons after new research revealed some prisoners have been held in confinement for more than 900 days. ...2 weeks ago
- Fossil fuels never the answer in climate crisis
The Government’s moves to enable the import of Liquefied Natural Gas is another step away from the sustainable and affordable energy network that this country needs. ...2 weeks ago
- Government must respect Court’s Uber employee decision
Today’s court ruling upholding the rights of Uber drivers is a message to the Government that it must not tamper with employment protections. ...2 weeks ago
- Release: Uber court decision recognises workers’ rights
The Court of Appeal decision that Uber drivers are entitled to employee rights such as minimum wage, sick leave, holiday pay and collective bargaining is welcome news for the drivers involved and their unions. ...2 weeks ago
- Release: Labour calls on Govt to divest from illegal settlements
The Labour Party is calling on the Government to tell the two major wealth funds, the NZ Super Fund and ACC, to withdraw investments from companies listed by the United Nations as complicit in Israel’s illegal settlements in the Occupied Palestinian Territories. ...2 weeks ago
- Release: Govt backtrack on fast-track still not enough
Labour welcomes news that the National Government is backing down on its reckless proposal to give Ministers final sign-off on significant projects, but it’s still not enough. ...2 weeks ago
- Fast track still on track to environmental destruction
Our environment remains at risk despite the Government's proposed changes to its controversial fast-track legislation. ...2 weeks ago
- Ohinemuri River pollution highlights mining risks
The harrowing images of the severely polluted Ohinemuri River caused by an old mining shaft could become a more common occurrence under the mining regime the Government is looking to roll out. ...2 weeks ago
- Action to grow the rural health workforce
Scholarships awarded to 27 health care students is another positive step forward to boost the future rural health workforce, Associate Health Minister Matt Doocey says. “All New Zealanders deserve timely access to quality health care and this Government is committed to improving health outcomes, particularly for the one in five ...13 hours ago - Pharmac delivering more for Kiwis following major funding boost
Associate Health Minister with responsibility for Pharmac David Seymour has welcomed the increased availability of medicines for Kiwis resulting from the Government’s increased investment in Pharmac. “Pharmac operates independently, but it must work within the budget constraints set by the Government,” says Mr Seymour. “When our Government assumed office, New ...14 hours ago
- Sport Minister congratulates NZ’s Paralympians
Sport & Recreation Minister Chris Bishop has congratulated New Zealand's Paralympic Team at the conclusion of the Paralympic Games in Paris. “The NZ Paralympic Team's success in Paris included fantastic performances, personal best times, New Zealand records and Oceania records all being smashed - and of course, many Kiwis on ...15 hours ago
- Government progresses response to Abuse in Care recommendations
A Crown Response Office is being established within the Public Service Commission to drive the Government’s response to the Royal Commission into Abuse in Care. “The creation of an Office within a central Government agency was a key recommendation by the Royal Commission’s final report. “It will have the mandate ...4 days ago
- Passport wait times back on-track
Minister of Internal Affairs Brooke van Velden says passport processing has returned to normal, and the Department of Internal Affairs [Department] is now advising customers to allow up to two weeks to receive their passport. “I am pleased that passport processing is back at target service levels and the Department ...4 days ago
- New appointments to the FMA board
Commerce and Consumer Affairs Minister has today announced three new appointments and one reappointment to the Financial Markets Authority (FMA) board. Tracey Berry, Nicholas Hegan and Mariette van Ryn have been appointed for a five-year term ending in August 2029, while Chris Swasbrook, who has served as a board member ...4 days ago
- District Court judges appointed
Attorney-General Hon Judith Collins today announced the appointment of two new District Court judges. The appointees, who will take up their roles at the Manukau Court and the Auckland Court in the Accident Compensation Appeal Jurisdiction, are: Jacqui Clark Judge Clark was admitted to the bar in 1988 after graduating ...4 days ago
- Government makes it faster and easier to invest in New Zealand
Associate Minister of Finance David Seymour is encouraged by significant improvements to overseas investment decision timeframes, and the enhanced interest from investors as the Government continues to reform overseas investment. “There were about as many foreign direct investment applications in July and August as there was across the six months ...4 days ago
- New Zealand to join Operation Olympic Defender
New Zealand has accepted an invitation to join US-led multi-national space initiative Operation Olympic Defender, Defence Minister Judith Collins announced today. Operation Olympic Defender is designed to coordinate the space capabilities of member nations, enhance the resilience of space-based systems, deter hostile actions in space and reduce the spread of ...5 days ago
- Government commits to ‘stamping out’ foot and mouth disease
Biosecurity Minister Andrew Hoggard says that a new economic impact analysis report reinforces this government’s commitment to ‘stamp out’ any New Zealand foot and mouth disease incursion. “The new analysis, produced by the New Zealand Institute of Economic Research, shows an incursion of the disease in New Zealand would have ...5 days ago
- Improving access to finance for Kiwis
5 September 2024 The Government is progressing further reforms to financial services to make it easier for Kiwis to access finance when they need it, Commerce and Consumer Affairs Minister Andrew Bayly says. “Financial services are foundational for economic success and are woven throughout our lives. Without access to finance our ...5 days ago
- Prime Minister pays tribute to Kiingi Tuheitia
As Kiingi Tuheitia Pootatau Te Wherowhero VII is laid to rest today, Prime Minister Christopher Luxon has paid tribute to a leader whose commitment to Kotahitanga will have a lasting impact on our country. “Kiingi Tuheitia was a humble leader who served his people with wisdom, mana and an unwavering ...5 days ago
- Resource Management reform to make forestry rules clearer
Forestry Minister Todd McClay today announced proposals to reform the resource management system that will provide greater certainty for the forestry sector and help them meet environmental obligations. “The Government has committed to restoring confidence and certainty across the sector by removing unworkable regulatory burden created by the previous ...5 days ago
- More choice and competition in building products
A major shake-up of building products which will make it easier and more affordable to build is on the way, Building and Construction Minister Chris Penk says. “Today we have introduced legislation that will improve access to a wider variety of quality building products from overseas, giving Kiwis more choice and ...5 days ago
- Joint Statement between the Republic of Korea and New Zealand 4 September 2024, Seoul
On the occasion of the official visit by the Right Honourable Prime Minister Christopher Luxon of New Zealand to the Republic of Korea from 4 to 5 September 2024, a summit meeting was held between His Excellency President Yoon Suk Yeol of the Republic of Korea (hereinafter referred to as ...5 days ago
- Comprehensive Strategic Partnership the goal for New Zealand and Korea
Prime Minister Christopher Luxon held a bilateral meeting today with the President of the Republic of Korea, Yoon Suk Yeol. “Korea and New Zealand are likeminded democracies and natural partners in the Indo Pacific. As such, we have decided to advance discussions on elevating the bilateral relationship to a Comprehensive ...5 days ago
- International tourism continuing to bounce back
Results released today from the International Visitor Survey (IVS) confirm international tourism is continuing to bounce back, Tourism and Hospitality Minister Matt Doocey says. The IVS results show that in the June quarter, international tourism contributed $2.6 billion to New Zealand’s economy, an increase of 17 per cent on last ...6 days ago
- Government confirms RMA reforms to drive primary sector efficiency
The Government is moving to review and update national level policy directives that impact the primary sector, as part of its work to get Wellington out of farming. “The primary sector has been weighed down by unworkable and costly regulation for too long,” Agriculture Minister Todd McClay says. “That is ...6 days ago
- Weak grocery competition underscores importance of cutting red tape
The first annual grocery report underscores the need for reforms to cut red tape and promote competition, Commerce and Consumer Affairs Minister Andrew Bayly says. “The report paints a concerning picture of the $25 billion grocery sector and reinforces the need for stronger regulatory action, coupled with an ambitious, economy-wide ...6 days ago
- Government moves to lessen burden of reliever costs on ECE services
Associate Education Minister David Seymour says the Government has listened to the early childhood education sector’s calls to simplify paying ECE relief teachers. Today two simple changes that will reduce red tape for ECEs are being announced, in the run-up to larger changes that will come in time from the ...6 days ago
- Over 2,320 people engage with first sector regulatory review
Regulation Minister David Seymour says there has been a strong response to the Ministry for Regulation’s public consultation on the early childhood education regulatory review, affirming the need for action in reducing regulatory burden. “Over 2,320 submissions have been received from parents, teachers, centre owners, child advocacy groups, unions, research ...6 days ago
- Government backs women in horticulture
“The Government is empowering women in the horticulture industry by funding an initiative that will support networking and career progression,” Associate Minister of Agriculture, Nicola Grigg says. “Women currently make up around half of the horticulture workforce, but only 20 per cent of leadership roles which is why initiatives like this ...6 days ago
- Government to pause freshwater farm plan rollout
The Government will pause the rollout of freshwater farm plans until system improvements are finalised, Agriculture Minister Todd McClay, Environment Minister Penny Simmonds and Associate Environment Minister Andrew Hoggard announced today. “Improving the freshwater farm plan system to make it more cost-effective and practical for farmers is a priority for this ...7 days ago
- Milestone reached for fixing the Holidays Act 2003
Minister for Workplace Relations and Safety Brooke van Velden says yesterday Cabinet reached another milestone on fixing the Holidays Act with approval of the consultation exposure draft of the Bill ready for release next week to participants. “This Government will improve the Holidays Act with the help of businesses, workers, and ...7 days ago
- New priorities to protect future of conservation
Toitū te marae a Tāne Mahuta me Hineahuone, toitū te marae a Tangaroa me Hinemoana, toitū te taiao, toitū te tangata. The Government has introduced clear priorities to modernise Te Papa Atawhai - The Department of Conservation’s protection of our natural taonga. “Te Papa Atawhai manages nearly a third of our ...7 days ago
- Faster 110km/h speed limit to accelerate Kāpiti
A new 110km/h speed limit for the Kāpiti Expressway Road of National Significance (RoNS) has been approved to reduce travel times for Kiwis travelling in and out of Wellington, Transport Minister Simeon Brown says. “Boosting economic growth and productivity is a key part of the Government’s plan to rebuild the economy. ...7 days ago
- IVL increase to ensure visitors contribute more to New Zealand
The International Visitor Conservation and Tourism Levy (IVL) will be raised to $100 to ensure visitors contribute to public services and high-quality experiences while visiting New Zealand, Minister for Tourism and Hospitality Matt Doocey and Minister of Conservation Tama Potaka say. “The Government is serious about enabling the tourism sector ...7 days ago
- Delivering priority connections for the West Coast
A record $255 million for transport investment on the West Coast through the 2024-27 National Land Transport Programme (NLTP) will strengthen the region’s road and rail links to keep people connected and support the region’s economy, Transport Minister Simeon Brown says. “The Government is committed to making sure that every ...1 week ago
- Road and rail reliability a focus for Wellington
A record $3.3 billion of transport investment in Greater Wellington through the 2024-27 National Land Transport Programme (NLTP) will increase productivity and reduce travel times, Transport Minister Simeon Brown says. “Delivering infrastructure to increase productivity and economic growth is a priority for our Government. We're focused on delivering transport projects ...1 week ago
- Record investment to boost economic and housing growth in the Waikato
A record $1.9 billion for transport investment in the Waikato through the 2024-27 National Land Transport Programme (NLTP) will create a more efficient, safe, and resilient roading network that supports economic growth and productivity, Transport Minister Simeon Brown says. “With almost a third of the country’s freight travelling into, out ...1 week ago
- Building reliable and efficient roading for Taranaki
A record $808 million for transport investment in Taranaki through the 2024-27 National Land Transport Programme (NLTP) will support economic growth and productivity, Transport Minister Simeon Brown says. “Taranaki’s roads carry a high volume of freight from primary industries and it’s critical we maintain efficient connections across the region to ...1 week ago
- Supporting growth and resilience in Otago and Southland
A record $1.4 billion for transport investment in Otago and Southland through the 2024-27 National Land Transport Programme (NLTP) will create a more resilient and efficient network that supports economic growth and productivity, Transport Minister Simeon Brown says. “Transport is a critical enabler for economic growth and productivity in Otago ...1 week ago
- Delivering connected and resilient roading for Northland
A record $991 million for transport investment in Northland through the 2024-27 National Land Transport Programme (NLTP) will strengthen the region’s connections and support economic growth and productivity, Transport Minister Simeon Brown says. “We are committed to making sure that every transport dollar is spent wisely on the projects and ...1 week ago
- Top of the South to benefit from reliable transport infrastructure
A record $479 million for transport investment across the top of the South Island through the 2024-27 National Land Transport Programme (NLTP) will build a stronger road network that supports primary industries and grows the economy, Transport Minister Simeon Brown says. “We’re committed to making sure that every dollar is ...1 week ago
- Government delivering reliable roads for Manawatū-Whanganui
A record $1.6 billion for transport investment in Manawatū-Whanganui through the 2024-27 National Land Transport Programme (NLTP) will strengthen the region’s importance as a strategic freight hub that boosts economic growth, Transport Minister Simeon Brown says. “Delivering infrastructure to increase productivity and economic growth is a priority for our Government. ...1 week ago
- Restoring connections in Hawke’s Bay
A record $657 million for transport investment in the Hawke’s Bay through the 2024-27 National Land Transport Programme (NLTP) will support recovery from cyclone damage and build greater resilience into the network to support economic growth and productivity, Transport Minister Simeon Brown says. “We are committed to making sure that ...1 week ago
- Transport resilience a priority for Gisborne
A record $255 million for transport investment in Gisborne through the 2024-27 National Land Transport Programme (NLTP) will support economic growth and restore the cyclone-damaged network, Transport Minister Simeon Brown says. “With $255 million of investment over the next three years, we are committed to making sure that every transport ...1 week ago
- Prioritising growth and reduced travel times in Canterbury
A record $1.8 billion for transport investment Canterbury through the 2024-27 National Land Transport Programme (NLTP) will boost economic growth and productivity and reduce travel times, Transport Minister Simeon Brown says. “Christchurch is the economic powerhouse of the South Island, and transport is a critical enabler for economic growth and ...1 week ago
- Supporting growth and freight in the Bay of Plenty
A record $1.9 billion for transport investment in the Bay of Plenty through the 2024-27 National Land Transport Programme (NLTP) will boost economic growth and unlock land for thousands of houses, Transport Minister Simeon Brown says. “Transport is a critical enabler for economic growth and productivity in the Bay of ...1 week ago
- Getting transport back on track in Auckland
A record $8.4 billion for transport investment in Auckland through the 2024-27 National Land Transport Programme (NLTP) will deliver the infrastructure our rapidly growing region needs to support economic growth and reduce travel times, Transport Minister Simeon Brown says. “Aucklanders rejected the previous government’s transport policies which resulted in non-delivery, phantoms projects, ...1 week ago
- Albanese promises to legislate minimum age for kids’ access to social media
Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra The Albanese government will introduce legislation this term to enforce a minimum age for children to access social media. Prime Minister Anthony Albanese will make the formal announcement on Tuesday. This follows a discussion at ...2 hours ago - Pro-Palestinian activists hold protests to disrupt defense expo in Australia
By Efe Özkan Pro-Palestinian anti-war activists in Australia have protested in Melbourne, disrupting a defence expo set to open on Wednesday. Protesters gathered yesterday in front of companies connected to weapons manufacturing across Melbourne as police were called to prevent an escalation of the events, according to 7News Melbourne. Many ...4 hours ago
- ‘Didn’t care enough’: here’s what the Royal Commission into Defence and Veteran Suicide foun...
Source: The Conversation (Au and NZ) – By Ben Wadham, Professor, Director, Open Door: Understanding and Supporting Service Personnel and their Families, Flinders University After three years of investigations, the Royal Commission into Defence and Veteran Suicide has delivered its final report with 122 recommendations. The commission has carried much ...7 hours ago
- What is 3-phase power? And how do I know if my house needs it?
Source: The Conversation (Au and NZ) – By Asma Aziz, Senior Lecturer in Power Engineering, Edith Cowan University If you’re building, renovating or planning to install a solar battery, your builder or installer might ask whether you’ve considered upgrading from single-phase to three-phase power. This upgrade often comes with a ...8 hours ago
- MSG is back. Is the idea it’s bad for us just a myth or food science?
Source: The Conversation (Au and NZ) – By Evangeline Mantzioris, Program Director of Nutrition and Food Sciences, Accredited Practising Dietitian, University of South Australia Dr. Victor Wong/Shutterstock MSG is making a comeback. The internet’s favourite cucumber salad recipe includes fish sauce, cucumber, garlic and – as the video’s creator ...8 hours ago
- South Australia is proposing a law to ban kids under 14 from social media. How would it work?
Source: The Conversation (Au and NZ) – By Lisa M. Given, Professor of Information Sciences & Director, Social Change Enabling Impact Platform, RMIT University Artie Medvedev/Shutterstock The South Australian government is moving ahead with plans to ban children under 14 from social media. Under the proposal, teens aged 14 ...9 hours ago
- Australia’s construction industry needs more hands on deck – so why is it ignoring skilled migra...
Source: The Conversation (Au and NZ) – By Martin Loosemore, Professor of Construction Management, University of Technology Sydney Shutterstock Australia’s construction industry is facing a perfect storm: enormous targets for building – 1.2 million new homes and A$230 billion worth of infrastructure over the next five years – at ...9 hours ago
- At Melaka Art & Performance Festival I watched dancers overcome by a trance in the rain, and the...
Source: The Conversation (Au and NZ) – By Jonathan W. Marshall, Associate Professor & Postgraduate Research Coordinator, Western Australian Academy of Performing Arts, Edith Cowan University Feifei Liao performing in the village ruins. Photo by and courtesy of Teo Swee An. Melbourne-based Tony Yap is a leading figure in ...9 hours ago
- Google is facing another crucial court case in the US – and it could have major consequences for o...
Source: The Conversation (Au and NZ) – By Barbora Jedlickova, Senior Lecturer, School of Law, The University of Queensland One month after a US court ruled Google had illegally maintained its monopoly on internet search, the tech giant will this week face the start of yet another important antitrust case. ...10 hours ago
- Christopher Luxon refuses to speak about Treaty Principles Bill after it was handed to Cabinet
The Prime Minister says ACT leader David Seymour will have more to say on the Bill soon. ...10 hours ago - Jesus’s vision fulfilled: David Seymour restores unity to the church
The Christian church has had quite a few dust-ups with itself over the last 20 centuries. This week, the Act Party brought it together. Since Jesus prayed that his followers may all be one (John 17:20-21), Christians have barely stopped fighting. Yes, they’ve occasionally broken off to slaughter people in ...11 hours ago - PODCAST: The Politics of Desperation – Trump, Netanyahu, Maduro, Ortega
Podcast: A View from Afar with Paul G Buchanan and Selwyn Manning. Building upon recent episodes of A View from Afar, Political Scientist Paul G Buchanan and journalist Selwyn Manning discuss The Politics of Desperation. This episode flows on from our discussions about long transitions and the moment ...11 hours ago
- Pope Francis’ visit to Timor-Leste is powerful and symbolic, but also political
Source: The Conversation (Au and NZ) – By Shannon Brincat, Senior Lecturer in Politics and International Relations, University of the Sunshine Coast Author provided, Author provided Timor-Leste has had much to celebrate recently. August 30 marked 25 years since the Popular Consultation – or “The Referendum”, as many call ...11 hours ago
- What’s the difference between a heart attack and cardiac arrest? One’s about plumbing, the other...
Source: The Conversation (Au and NZ) – By Michael Todorovic, Associate Professor of Medicine, Bond University Explode/Shutterstock In July 2023, rising US basketball star Bronny James collapsed on the court during practice and was sent to hospital. The 18-year-old athlete, son of famous LA Lakers’ veteran LeBron James, had ...12 hours ago
- If we truly want our Paralympic athletes to shine, their coaches need more support
Source: The Conversation (Au and NZ) – By Andrew Bennie, Associate Professor, Health and Physical Education/Sport Development, Western Sydney University The 2024 Paris Paralympics delivered heightened attention and awareness of a pinnacle sporting event for para athletes. Australia has often set the standard for para sport, consistently achieving top ...12 hours ago
- New to streaming: What to watch on Netflix NZ, Neon and more this week
We round up everything coming to streaming services this week, including Netflix, Amazon Prime, Disney+, Apple TV+, ThreeNow, Neon and TVNZ+. If you love celebs out of their comfort zone: Celebrity Treasure Island (TVNZ+, starting September 9) We’re back on the beach for a new season of celebrity ...13 hours ago
- Harris’ lead dips in national US polls and it’s very close in the key states
Source: The Conversation (Au and NZ) – By Adrian Beaumont, Election Analyst (Psephologist) at The Conversation; and Honorary Associate, School of Mathematics and Statistics, The University of Melbourne The United States presidential election will be held on November 5. In analyst Nate Silver’s aggregate of national polls, Democrat Kamala Harris ...14 hours ago
- Rewriting history: how the Treaty ‘principles’ evolved and why they don’t stand up to scrutiny
Source: The Conversation (Au and NZ) – By Jane Kelsey, Emeritus Professor of Law, University of Auckland, Waipapa Taumata Rau Getty Images ACT Party leader David Seymour has said the goal of his Treaty Principles Bill is to stimulate an overdue conversation on te Tiriti o Waitangi/Treaty of Waitangi. ...14 hours ago
- Surge in non-disclosure agreements at Health NZ sparks Labour complaint
Nearly 70 staff at Te Whatu Ora have signed non-disclosure agreements since the end of November. ...15 hours ago
- ‘Numerous questions’, but Fiji govt sticks with new anti-corruption chief
By Caleb Fotheringham, RNZ Pacific journalist The Fiji government is backing the appointment of the country’s new anti-corruption chief who was under investigation by the office she now heads, which has left Fijians asking questions. Barbara Malimali — who was also the Electoral Commission chairperson — was revealed as the ...15 hours ago
- Pope Francis calls for end to tribal ‘spiral of violence’ in PNG visit
Inside PNG reports that Papua New Guinea is blessed with an abundance of natural resources, a proclamation even Pope Francis acknowledges. But Papua New Guinea is also challenged with socio-economic developments that do not reach the rural majority despite the presence of numerous extractive industries. The Pontiff in his remarks ...15 hours ago
- Anne Salmond: A Cabinet of principles?
The effrontery of David Seymour’s riposte to Church leaders over his Treaty Principles Bill is breathtaking. He accuses them of being undemocratic. When the Act Party took the idea of a referendum on Te Tiriti to a general election in 2023, it won just 8.6 percent of the vote. The other ...15 hours ago - Public feedback sought on new tolls for lower North Island
Consultation on the proposed tolling schemes for the Manawatū Tararua Highway and the Ōtaki to north of Levin highway is now open. ...15 hours ago
- A new festival celebrates the art of the picture book
Picture Me is a brand new book festival happening in Wellington and Christchurch between 11–28 September. Here’s the inside scoop on the international headliners and what they’ll be doing while in Aotearoa. A good picture book has a timeless quality: a story you don’t mind reading over, and over and ...15 hours ago
- Minister tried to hide NZDF criticism of boot camp comments
The criticism was revealed to RNZ in an official information act response, but new documents show Judith Collins asked for them to be redacted. ...16 hours ago
- LIVE@12:45pm – The Politics of Desperation – Trump, Netanyahu, Maduro, Ortega
The LIVE Recording of A View from Afar podcast will begin today at 12:45pm September 9, 2024 (NZST) which is Sunday evening, 8:45pm (USEDT). Building upon recent episodes of A View from Afar, Political Scientist Paul G Buchanan and journalist Selwyn Manning will discuss The Politics of Desperation. ...16 hours ago
- David Seymour hits out at church leaders over Treaty Principles Bill
The ACT leader says churches are abandoning their core beliefs, after 400 Christian leaders condemned his controversial Treaty Principles Bill. ...17 hours ago
- Some home truths about gene technologies
In response to criticism of proposed changes to our GM settings, scientist Revel Drummond says we should discuss the issue of regulatory change from a position of educated debate, not fear-mongering. New technologies often get pushback from sectors of society. In the 19th century people feared the unknown effects on ...17 hours ago
- Dane and Stacey on making travel a business, owning half a dog, and finding balance
Earning money while you travel sounds like a dream to many of us – so how hard is it to make the dream a reality? Travel content creators Dane and Stacey joined Kiwibank’s This is Kiwi podcast to talk about documenting their adventures online, and remembering to sometimes put the ...17 hours ago
- Councils’ credit ratings downgraded over debt, rising costs
A reduced rating will mean higher borrowing costs for two major city councils. ...17 hours ago
- Is America ready to elect a Black woman president?
Source: The Conversation (Au and NZ) – By Emma Shortis, Adjunct Senior Fellow, School of Global, Urban and Social Studies, RMIT University It’s the big question that has loomed over Kamala Harris’ presidential campaign from the start: is the United States ready for a Black woman president? I get ...18 hours ago
- Murdoch to Musk: how global media power has shifted from the moguls to the big tech bros
Source: The Conversation (Au and NZ) – By Matthew Ricketson, Professor of Communication, Deakin University Until recently, Elon Musk was just a wildly successful electric car tycoon and space pioneer. Sure, he was erratic and outspoken, but his global influence was contained and seemingly under control. But add the ...18 hours ago
- Africa desperately needs mpox vaccines. But donations from rich countries won’t fix this or the ne...
Source: The Conversation (Au and NZ) – By Joel Lexchin, Professor Emeritus of Health Policy and Management, York University, Canada Africa says it needs an estimated ten million doses of mpox vaccine to control this public health emergency. The situation is particularly concerning in the Democratic Republic of the Congo, ...18 hours ago
- Plot twist: how giving old graveyards new life as parks can improve our cities
Source: The Conversation (Au and NZ) – By Rob Stokes, Industry Professor, Environment and Sustainability, Macquarie University Camperdown Cemetery in Newtown, Sydney Rose Marinelli/Shutterstock Old graveyards are a forgotten land asset that can find new life as urban parks in crowded cities. As the density of our cities increases, efficient ...18 hours ago
- 91% of Australian teens have a phone – but many are not keeping their identity and location secure
Source: The Conversation (Au and NZ) – By Yeslam Al-Saggaf, Professor in Computing, Charles Sturt University Halfpoint/ Shutterstock , CC BY Most Australian teenagers have their own smartphone. According to a 2023 survey, 91% of young people between 14 and 17 owned a phone. At the same time, ...18 hours ago
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No matter how Labour tries to sugar coat it, facts like this keep slapping them in the face:
“Documents released by Treasury on Thursday reveal the agency repeatedly warned the Government against allowing HNZ to borrow money this way in the lead-up to the Budget, suggesting instead that the money should come out of normal Crown debt.”
https://www.stuff.co.nz/national/politics/106704499/billions-borrowed-for-new-state-homes-against-treasury-advice
Not surprising that business perceivably goes against the rhetoric of:
“For instance, average business confidence scores under the Clark/Cullen Government were much lower than the Key/English Government, despite Clark and Cullen delivering higher average growth, lower unemployment, lower debt, larger surpluses and stronger wage growth than their successors.”
They warned the last Government too about this activity! Did you read where they said:
“The advice echoed similar words given by Treasury when the National-led Government decided to allow Housing New Zealand to borrow over $1b in the last Budget.”
Although I agree this should be on the crown’s balance sheet because it is cheaper. And the monetary policy rules should be changed.
https://www.youtube.com/watch?v=zYMD_W_r3Fg
Meet the new boss
Same as the old boss
Has nothing to do with the business confidence survey.
I was asked about this issue on RNZ this morning. So I did a bit of research prior to the interview, rather than speaking in generalities.
To take the Auckland construction industry. Cement deliveries nationwide are down 5%, more in Auckland. While there are many cranes in the CBD (around 35) many of these are on projects that are coming to an end, without matching new projects. That is causing a lot of anxiety.
Labour has talked a lot about new projects, but many of these are years from starting. Planning and consenting for light rail will take at least 18 months, probably more. To take the analogy I used on radio, instead of turning the tanker while it is underway, what is happening is the tanker is slowing, then being turned before it speeds up again.
Business confidence is all about the future. A large number of businesses are looking at a real dip in the next 12 to 18 months, before Labour’s new plans kick in.
That is why confidence is down. That is why many in the construction workforce are already going to Australia. It is why unemployment is likely to go up again in the next quarter.
As Michael Barnett recently said, Labour needs to get some shovel ready projects going now. Sure these are largely from the previous govt, which Labour has canned, but there is a 12 to 18 month gap that has to be filled. Mostly they are roading and related type projects in the south and east of Auckland. While they may not be exactly Labour’s priorities, they will be be useful in freeing up traffic, especially in logistics and freight.
And they will boost business confidence. Labour will be seen to be doing, and not just talking.
Cement is just one indicator. It may mean that a couple of major road projects have finished.
What about building consents? These are up 28% on last year …
https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12116219
There will be lots of construction work happening. And Kiwibuild is in the pipeline.
In construction and infrastructure that hole is exactly what we are facing.
That has some pretty big employment effects while our public sector clients figure themselves out over the next year.
The construction industry neednt worry about a 12 month lag in forward orders Wayne….it’ll take them longer than that in overruns and rework on the poor workmanship already completed
I heard your comments this morning.
Hodgeson was more illuminating on the realities in the economy.
The supertanker analogy is an old one and not particularly helpful.
ANZ economist Sharon Zollner says 2/3rds of growth has been down to immigration.
The tradeable sector has been quite stagnant for some years now as GDP growth has relied on property inflation and immigration .
‘Business confidence is all about the future. A large number of businesses are looking at a real dip in the next 12 to 18 months, before Labour’s new plans kick in.’
If businessmen could pick the future 12-18months out they wouldn’t need to rely on the old boy network of cushy directorships to earn money,they could just trade futures.
You got it right there. This is the crux of the issue: “ANZ economist Sharon Zollner says 2/3rds of growth has been down to immigration. The tradeable sector has been quite stagnant for some years now as GDP growth has relied on property inflation and immigration.”
Throughout his entire tenure as PM, it was obvious Key was faking it. The most credit he deserves was for keeping the ship steady post-gfc.
Importing lots of foreigners to create the illusion of economic growth was nothing more than the desperation of a drug addict. If neoliberalism hadn’t become dysfunctional, they wouldn’t have been any desperation. But instead of facing reality and telling the truth, the cheerleaders of capitalism have taken refuge in evasion & denial. Spinelessness isn’t the solution to the problem.
It’s vital that the government can demonstrate that it has instigated projects that are delivering results prior to the next election.
Minister Twyford clearly knows that.
I get the impression Minister Jones does as well.
The PM can (mildly) complain about the dissonance between boardroom mood and reality, but much of the uncertainty is of her own making.
– Few of these 170+ working groups have specific outcomes or finishing dates, and even fewer within this term
– The business group she is clearly forming on the fly has little chance of being a true alternative node of business advice and leadership
– There is no tax plan other than … something next term
– There is no clear plan for the economy, other than some exceedingly high level bromides from the Minister of Finance, … speaking of which…
– Her Minister of Finance is missing in action. Almost totally. WTF is the PM having to spend her political capital on a business audience? That is the Min Finance’s job.
The PM should make Roberston accountable for bringing the business community around to the government programme.
“– Her Minister of Finance is missing in action. Almost totally. WTF is the PM having to spend her political capital on a business audience? That is the Min Finance’s job.”
Having the PM attend signals how important she sees that particular forum. The attendees would appreciate that.
I recently attended the local Chamber of Commerce which had a lunch-time speech by the Minister of Finance?
Missing in action? Nah. Just anti-government hyperbole, Ad.
Robertson told the New Zealand Shareholders’ Association annual meeting in Auckland on Saturday. “As part of that process, we want to work on how we register the remaining million or so New Zealanders who aren’t in KiwiSaver,”
Or the symbolism of Ardern speaking to the business advisory council meeting. One opinion leader says, “This week’s speech by the Prime Minister is a strong signal that the Government is listening. It is important for business to know that it has a voice, and that the Government is hearing it and responding.”
Who said that? Kirk Hope, chief executive of BusinessNZ.
He saw the symbolism of having PM involvement. Robertson was also there. He spoke later to the media on the meeting.
https://www.radionz.co.nz/national/programmes/morningreport/audio/2018660132/finance-minister-hopeful-of-business-confidence-turnaround
From the media coverage of major spending announcements, the Minister of Finance appears to be Phil Twyford.
In any other government, the Minister of Finance is the second-highest profile politician in the country.
I’m sure Robertson does speeches. Don’t doubt it. If Kirk Hope fell in a forest, no one noticed the noise.
The business confidence survey is strong and consistent enough to show that Robertson’s appearances do not equate to the leadership required to make a difference in the business community.
If Ardern has to spend this much political capital shoring up business, Roberston is not doing his job.
Ad, (in a tired but resigned voice), who is the Minister of Housing? Which Minister makes housing announcements? It is a recognised fact that Minsters can spend money in their portfolio areas.
As for dismissal of the opinion writer for a major news organisation you dismiss him why? Because he dares to have an opinion which does not align with your bias?
If you are sure that Robertson (do take note of the spelling!) makes speeches, why do you dismiss him as “missing in action”. I gave you a reference which showed he was well in the firing line, quite well-armed and taking care of the action.
The business survey more reflects the politics of those surveyed rather than the reality of the NZ economy. Funny how people in surveys say they themselves are doing quite well thank you but the economy is doomed, “Doomed, I say, DOOMED!”
Cheers I am aware of the Cabinet. Twyford is the person making all major announcements that are affecting the economy. Not Robertson. The budget was regrettably a long, long time ago in politics. It is Twyford not Robertson showing the leadership in economic intervention.
Making a speech should not be confused with leading. You would know it if you saw it, as would the business community. If there was leadership, the Minister of Regional Economic Development would have know that the CE of Air NZ was going to lead the new government business group. He was totally blindsided and said so to the media on Friday.
There’s no doom. There’s still plenty of strong fundamentals. A good government would show how to build on that.
There are no stories in the MSM saying that this government has a clear plan for the economy. The mood polls reflect the government’s own policy incoherence.
There are no stories in the MSM saying that there are outstanding new listings in the sharemarket, nor rises in productivity, nor decreases in youth unemployment, nor wage rises, nor increases in consumer spending, nor a tilting of investment from real estate to business, nor an accelerated shift away from bulk commodity exports … nor any coherent plan to address any of that.
And if they did, you betcha that business survey would improve.
Ad, your comment appears to take as read the lines that the current government can meaningfully be said to have established 170+ enquiries over and above what would previously have been usual practice, and that the latter is an indication that the government is not implementing any sort of programme. I am well aware that you don’t actually think that either of these claims paints the full picture, but I do think that you may have lost sight of any substantive point about coherency of policy and message in the pursuit of playing Devil’s advocate. I also sometimes get the impression from your posts here that you think your Devil’s advocacy is a lot more provocative than it actually is.
Hanswurst, with mustard! 🙂
Nope, I genuinely think that – Twyford aside – this government is as incoherent as it looks. No one is able to give evidence that it is. Not you nor anyone.
Your “impression” stems from an unwillingness to expect coherent greater than that which we have had for the last 9 years of government. Learn to expect more.
No one outside of Wellington now believes this government has a shining singular purpose. Particularly not with the economy. That really is the role of Robertson.
This primary intervention this week – again Twyford aside – was two all-weather horse racecourses and an incoherent business group with neither scope, purpose for the government, or membership.
Keep dismissing the consistent mood-of-the-boardroom reports if you like. Nordmeyer’s government did similar, and lasted a term.
I wonder if this is the same survey that existed in the Bank some 17 years ago when I worked for ANZ. Basically the most junior smuck (me) got the job to complete it and send it to Head Office. Quite frankly I had no more idea of business confidence than any other person and just filled in some tick boxes and sent it off – job done. Maybe its changed and actual businesses are surveyed now – maybe not.
Interestingly enough, Paul Krugman made the same point back in 1996:
That’s an interesting article as he goes on to say that foreign investment must result in a trade deficit. Our own trade deficits have been increasing ever since we allowed essentially unlimited FDI and yet the business people have been telling us that we need more.
Business people do not understand economics.
QFT
Most business people and other capitalists are about as entrepreneurial and innovative as a door nail.
I’ll believe that when they start dropping FTAs and start developing our own capabilities.
The parablr of the self-fulfilling prophecy.
The parable tells us that public definitions of a situation (prophecies or predictions) become an integral part of the situation and thus affect subsequent developments. This is peculiar to human affairs. It is not found in the world of nature, untouched by human hands. Predictions of the return of Halley’s comet do not influence its orbit. But the rumoured insolvency of Millingville’s bank did affect the actual outcome. The prophecy of collapse led to its own fulfilment
Business confidence falls householders start saving (instead of spending).
164,316
165,332
166,836
166,332
167,001
168,973
169,595
170,096
171,530
172,677
(Billions of dollars since election)
https://www.rbnz.govt.nz/statistics/s40-banks-liabilities-deposits-by-sector
Nice. Yes like so much it is decided emotionally and justified rationally. I remember reading a good book about investors and the emotions people follow, from herd mentality to not wanting to be different, when investing years ago when I did thst stuff – very interesting – if anyone can link me back to it be good ta.
“public definitions of a situation (prophecies or predictions) become an integral part of the situation and thus affect subsequent developments.”
Soros called this the principle of reflexivity in his first book The Alchemy of Finance.
https://www.ft.com/content/0ca06172-bfe9-11de-aed2-00144feab49a
“It so happened that the concept of reflexivity provided me with a new way of looking at financial markets, a better way than the prevailing theory. This gave me an edge, first as a securities analyst and then as a hedge fund manager.”
youre only looking at half the equation
https://www.rbnz.govt.nz/statistics/key-graphs/key-graph-household-debt
Business confidence might be down because their million dollar+ CEO’s are realizing their worker-bee’s have had a guts-full of working longer hours with little to no pay increases.
You guys need to wake up.
These are lagging indicators.
We’ve had our worst month in the last two years. It’s been in steady decline since June. We are posting a loss this month.
Everything has stopped. No new customers, no orders of hardware.
I was just speaking tonight with a software dev firm tonight who I’ve had a close relationship for 10 years, and this is the first month 4 big clients held back paying funds. He had to do the ring around to pay his staff.
There are industries doing well, like construction. But many who are not.
The end of this year is going to be crushing for many SMBs I imagine.
Ah well, in the absence of strong economic indicators to back up your concerns, maybe you’ll just have to accept that you and your friends are a bit s*** at business. Happens.
Yeah, been in business almost 15 years now, 150% growth last financial year. I’m not the one who’s shit.
Well, according to your own evidence just above, you’ve lost your mojo since June. Happens.
Business confidence index to be renamed the business sulk index?
Still businesses that have been overdosing on the crack cocaine of growth fueled by immigration may be feeling a little poorly. Dud business models are going to fail as they should. And don’t forget the massive social & infrastructure cost that the taxpayer is stumping up for this immigration.
But business should be celebrating wage and salary rises – more money outside the door means more money inside it as well
So are the owners anticipating decreased profits in their own pocket or having nothing to invest in the business. If it’s just their own pockets hurting a little – sorry no sympathy and even less for the grossly inflated wages at the top of the tree.
30 years of neoliberalism finally catching up with NZ. Hopefully the Ardern government can do something the other administrations couldn’t.
https://www.poundsterlinglive.com/nzd/7615-nz-dollar-and-massive-debt-levels
https://www.theguardian.com/business/2018/aug/30/argentina-raises-interest-rates-to-60-to-shore-up-peso
Why do we measure business confidence?
Confidence is an internally felt emotion, like all emotions it is a subjective feeling.
I mean how do you measure feelings?
Subjective emotions are often, (but not always), engendered by external objective metrics, so why don’t we just identify and measure these external metrics instead?
And if the government should pander to subjective emotions, should they just be pandering to one sector?
Rising wages might cause feelings of lack of confidence in business, but feelings of confidence in workers.
Falling house prices might engender growing feelings of confidence in first home buyers, but engender falling levels of confidence in bankers and businessmen.
While we are talking about measuring subjective emotions….
While we assiduously measure the subjective feelings of confidence of the business community, why don’t we measure the subjective feelings of confidence the public has in these business people?
Wouldn’t this give us a better idea of how much subjective weight should be given to the tender feelings of business?
If it is found that the public at large has no confidence in our business community, wouldn’t this be grounds to discount the feelings of confidence or lack thereof of business?
Personally I think the whole matter of measuring feelings and emotions is idiotic, and government should stick to verifiable facts and figures.
How ‘business confidence’ is defective as a measure: https://www.newshub.co.nz/home/shows/2018/08/opinion-what-is-business-confidence-and-does-it-even-matter.html
Business confidence lows are more impressive elsewhere actually:
https://www.bbc.com/news/world-latin-america-36319877
You kinda get the impression inflation is a concern too: “The annual inflation rate reached 83,000% in July”. IMF is predicting the rate will reach a million per cent by the end of the year. A cup of coffee now costs 2,500,000 bolivars & one suspects the govt printing machine may be overheating spitting out the wee buggers. Since the economic crisis began in 2014, 7% of the population have fled the country. The fastest learners.
cut paye to 3%, cut business tax to 6%.
slash most of the government workers and mp’s, most of them are pigs at the trough.
raise import tax.
end all armed forces, make a defense force.
end all work visas, as nzers can do these jobs.
pretty sure kiwis can work on farms in gas stations, supermarkets etc.
end the dole and start work programs.
stop all global warming taxes and programs.
and act like trump, act for nz first.
we will have close to full employment, kiwis will spend more.
oh and make socialism/Communism illegal.
Good to be bringing in Lobbying.
The ultimate objective to be lead by the local economy, when our NZ export lead prosperity is lead by our NZ local economy, then that will be really something of the values that NZ mixes into the world arena.
At the moment our local businesses seem to be balkanised, with what seems like centralised puppet actors like Fed Farmers parroting the dominant media complexes for their direction.
Hopefully this govt. period can bring back in some more real world capitalism to the demand and supply organisation of the NZ local economy, in growing prosperous NZ quality of life values to lead our export lead prosperity for the NZ ‘brand’ if you like, of why other countries and their societies love the benefits of trading relationships with New Zealand identity.
NZ1st!