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Labour Green fiscal framework

Written By: - Date published: 9:16 am, March 24th, 2017 - 91 comments

As widely reported this morning, Labour and the Greens have set out an agreed fiscal framework. Smart politics.

There are no surpluses

Written By: - Date published: 9:48 am, March 14th, 2017 - 38 comments

There are no surpluses in NZ right now, not in any real sense. There is only debt, negative externalities and deferred costs.

Household debt

Written By: - Date published: 11:47 am, March 8th, 2017 - 93 comments

The IMF warns that our household debt is far too high, as desperate tenants start raiding the Kiwisaver accounts to pay the rent.

Unemployment rate up

Written By: - Date published: 8:15 am, February 2nd, 2017 - 12 comments

Despite National’s fiddling the figures on the way unemployment is counted, the unemployment rate is on the rise again.

Labour gets serious about regional development

Written By: - Date published: 1:46 pm, February 1st, 2017 - 46 comments

Labour is serious about regional development. It is proposing a 10 year $200m package of regional initiatives. The first of these was just announced in Dunedin.

Hickey on surpluses and Key’s bullshit

Written By: - Date published: 9:17 am, December 4th, 2016 - 36 comments

Bernard Hickey: “It is extraordinary for the Prime Minister to call the Treasury’s short and long term forecasts a “load of nonsense” and yet rely on the medium term ones to promise all manner of riches to voters on the eve of an election.”

Treasury predictions – not good

Written By: - Date published: 8:08 am, November 27th, 2016 - 65 comments

Brian Fallow in The Herald summarises the take-home messages from the latest Treasury report. National have us on track to disaster.

The sharemarket moved because…

Written By: - Date published: 10:07 am, November 23rd, 2016 - 17 comments

This is just something that gets my goat, and there was a particularly egregious example on the RNZ Business News this morning. Apparently Wall St was going ‘gangbusters’, and the reason they came up with for that was ‘Wall St’ liking Donald Trump’s policies (lowering tax and building infrastructure apparently).  Not long ago Wall St […]

National tries to have it both ways

Written By: - Date published: 8:31 am, November 19th, 2016 - 51 comments

Despite the Kaikoura earthquakes, the damage to the Capital and the fact the EQC fund is now in deficit, the Government is still holding out the possibility of tax cuts in election year.

I’m a Muslim, an Immigrant and I voted Trump

Written By: - Date published: 12:54 pm, November 14th, 2016 - 234 comments

Take a deep breath and transcend your fear.

Grant Robertson: Future of Work

Written By: - Date published: 11:25 am, November 9th, 2016 - 10 comments

At the Labour Conference over the weekend, Grant Robertson announced the results of the Future of Work Commission.  Ideas for policy to cope with a new age of work.

The Future of Work Commission report

Written By: - Date published: 8:59 am, November 6th, 2016 - 17 comments

The Future of Work Commission report has now been released. It contains 63 recommendations including the tentative implementation of a universal basic income and a that voluntary work for approved organisations allow beneficiaries to continue to receive a benefit.

Nats backsliding on tax haven law changes

Written By: - Date published: 7:54 am, November 1st, 2016 - 20 comments

The Nats are backsliding on implementing the law changes brought on by the Panama Papers revelations. If European regulators blacklist us the consequences will be catastrophic.

Workers’ rights – the Uber ruling

Written By: - Date published: 8:26 am, October 30th, 2016 - 34 comments

Recent decision in the UK is a victory for workers and their rights.

Tax cuts hard to sell

Written By: - Date published: 8:32 am, October 19th, 2016 - 8 comments

Herald: “…the Government ought to be banking surpluses, just as Sir Michael Cullen did during the boom of 2000-2007”.

Tax-cuts or… Health

Written By: - Date published: 8:16 am, October 18th, 2016 - 133 comments

Health – particularly mental health – is underfunded, resulting in strikes over patient safety and units shutdown due to staff shortages. And unnecessary deaths. So why is the government even thinking about tax-cuts when our services need investment?

Hickey on debt

Written By: - Date published: 10:33 am, October 16th, 2016 - 30 comments

Hickey in The Herald on Sunday: “Our household debt to income ratio of 165 per cent is now about 5 per cent above those previous highs of 2008 and rising quickly as debt rises around twice as fast as incomes.”

Economics is still lost

Written By: - Date published: 12:25 pm, September 20th, 2016 - 54 comments

Paul Romer is an economist highly respected by his peers, and about to become the Chief Economist at the World Bank. He’s also just published a paper rubbishing the last 3 decades of macroeconomics.

Martin Wolf, chief economics commentator at the Financial Times is challenging fractional reserve banking. It’s certainly time for some new ideas.

Robertson: Lessons from the Future of Work Commission

Written By: - Date published: 1:22 pm, August 26th, 2016 - 10 comments

Robertson: “What is the economic paradigm that will meet the challenge of world of less secure work, more automation?”

Between what we want and what we need

Written By: - Date published: 8:00 am, August 19th, 2016 - 122 comments

New Zealand is slowly losing faith with this Government and this is why.

Spark – kudos

Written By: - Date published: 8:05 am, August 15th, 2016 - 30 comments

Our wages are too low generally, and this is one of the main economic challenges that we face. A few more employers committing to paying a living wage would be a good place to start.

Globalisation and global incomes (the “elephant graph”)

Written By: - Date published: 7:01 am, August 14th, 2016 - 55 comments

An elegant graph explains why free trade is a good thing, but why it is causing a backlash in rich “Western” countries.

Left Side Story: What do New Zealanders actually earn?

Written By: - Date published: 7:02 am, August 12th, 2016 - 91 comments

Reprinted with permission, by Deborah Russell from Left Side Story: What do New Zealanders actually earn? And why we need to understand these figures.

Immigration jobs and housing

Written By: - Date published: 12:46 pm, August 11th, 2016 - 88 comments

Until we sort out our housing and unemployment problems it is surely time to reign in NZ’s currently record levels of immigration.

Reserve bank cuts OCR to record low

Written By: - Date published: 9:21 am, August 11th, 2016 - 28 comments

The Reserve Bank just cut the OCR to a historic low of 2%. And no it’s not good (economic) news.

Stiglitz on the globalisation revolt

Written By: - Date published: 7:54 am, August 8th, 2016 - 69 comments

Globalisation is facing a popular revolt. Economist Joseph Stiglitz explains why.

Employers failing Kiwsaver obligations

Written By: - Date published: 11:40 am, August 5th, 2016 - 35 comments

In a sign of just how stressed our economy is: “Inland Revenue is chasing employers for unpaid KiwiSaver contributions worth tens of millions of dollars.”

We can’t say we weren’t warned

Written By: - Date published: 7:12 am, August 1st, 2016 - 189 comments

When the Auckland housing bubble bursts a lot of people are going to lose a lot of money. They won’t be able to say they weren’t warned.

The future of work

Written By: - Date published: 8:41 am, July 29th, 2016 - 25 comments

The Herald (Liam Dann) had a Terminator themed piece on the future of work yesterday. If only there was a party that was thinking about these long term issues!

Oram – seven warning signs for the economy

Written By: - Date published: 10:07 am, July 24th, 2016 - 23 comments

Rod Oram’s Sunday Star-Times, reprinted on Facebook here, adds yet another voice to the chorous of economic warnings: “Our Road Runner economy is zooming towards the cliff-edge”…

National’s Rodeo.

Written By: - Date published: 12:21 pm, July 15th, 2016 - 23 comments

The fiction that National is doing a competent job of managing the economy is entirely due, now that the boom from Dairy and Christchurch rebuilding is ending, to immigration and rising house prices.

They are now riding a bolting horse that they cannot dismount, caused by their own inaction.

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