Daily review 26/02/2024

Written By: - Date published: 5:30 pm, February 26th, 2024 - 22 comments
Categories: Daily review - Tags:

Daily review is also your post.

This provides Standardistas the opportunity to review events of the day.

The usual rules of good behaviour apply (see the Policy).

Don’t forget to be kind to each other …

22 comments on “Daily review 26/02/2024 ”

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  1. SPC 1
    26 February 2024 at 5:44 pm

    First they discount the growth in government assets to exaggerate the public debt.

    Then they say there is not enough money for their transport plan, nor for the existing school build programme.

    National is preparing the public for TINA but to have others fund and offload the cost to future governments (a cost greater than a growth of public debt).

    https://www.1news.co.nz/2024/02/26/bordering-on-crisis-govt-to-investigate-school-property-system/

    ACT wants this for new hospital building.

    https://www.rnz.co.nz/news/national/504309/government-considering-different-funding-models-to-build-new-hospitals

  2. SPC 2
    26 February 2024 at 6:23 pm

    The government is one intent on a direction – lack of tax revenues – whereby it cannot maintain the capability to fund provide public services.

    The Treasury has repeated its warning that New Zealanders need to think about cutting some publicly funded services delivered by the health system or face a significantly higher tax burden in the future

    publishing New Zealand’s first Health Government Policy Statement (GPS), essentially a stand-alone health budget, which Health Minister Shane Reti says will be published before the Budget.

    https://archive.li/WN2md#selection-1063.22-1067.75

    Treasury officials delivered a stark warning to the new Government last year, saying there was a long-term shortfall in the amount of revenue the government takes in taxes and the amount of money it spends.

    It warned that spending cuts combined with a capital gains tax might be needed to consolidate New Zealand’s public finances and deliver a surplus by 2026/27.

    https://archive.li/frdvt#selection-1073.0-1073.205

    • SPC 2.1
      26 February 2024 at 6:34 pm

      Thus it is noteworthy that Labour is not working with Greens and Maori Party on tax policy, but appears to be offering little different to National in the wealth and estate tax area (though Treasury would be aware of the cost of landlord claiming costs against rent income and moving from a 10 year to 2 year bright-line test).

      Small suggests that Labour views tax reform as a “recurrent campaign nightmare” to avoid rather than “an opportunity to define itself and fund its policy platform”. And he says that in keeping Parker away from the revenue and economic portfolios, he’s signalling that a wealth tax is off the agenda. Instead, Hipkins has put the rather dry Deborah Russell in charge of tax and she says that wealth taxes are “largely unknown” and too complicated to explain.

      https://www.nzherald.co.nz/nz/politics/labours-worst-week-highlights-its-existential-crisis-political-round-up/X5ZFOQ53UJAZXPWZVKJ4ETBTVY/

      • Muttonbird 2.1.1
        26 February 2024 at 7:49 pm

        Would be beautiful irony if it was National that forced through a CGT. Never mind the budget, they'd just do it. An announcement, then under urgency the next day.

        Like dogs eating their own vomit the rich pricks of NZ would be stunned, then automatically fall in line and chow down.

        Perhaps this is the only way a GCT will get over the line.

        • Graeme 2.1.1.1
          26 February 2024 at 9:34 pm

          Any party that looked like they were going to get a CGT, Wealth Tax or Inheritance Tax over the line, by fair or foul means, would have that much money flowing into their party coffers from the Financial Services industry they wouldn't know what to do with it.

          All, or either tax, would be an absolute goldmine for that industry as all the affected people re-arrange their affairs to avoid the tax. they'd probably make ore out the tax than the government would.

          If there's money to be made I can't see National being too far away, and the faithful will believe.

          • SPC 2.1.1.1.1
            27 February 2024 at 8:34 am

            All, or either tax, would be an absolute goldmine for that industry as all the affected people re-arrange their affairs to avoid the tax. they'd probably make ore out the tax than the government would.

            Care to try and flesh out that reckon?

            How much would the three CGT, wealth tax or estate tax generate – and how much money would people pay to avoid those taxes?

            First a fact – they would not pay more to avoid tax, than they would in tax.

        • Bearded Git 2.1.1.2
          27 February 2024 at 6:41 am

          I wouldn't be surprised to see the Nats support a weak, ineffective and low revenue raising CGT to head off more effective wealth redistribution measures such as a Wealth Tax or Land Tax.

          • mikesh 2.1.1.2.1
            27 February 2024 at 11:29 am

            This is probably why the banks favour capital gains taxes. The point being that a cgt is not levied until after a property is sold and the bank in question no longer has any financial interest in it. Wealth and land taxes, on the other hand, are paid on a regular basis while the property is still owned, and therefore affects negatively the owner's capacity for paying interest.

    • Bearded Git 2.2
      27 February 2024 at 6:37 am

      I have funded my own cataract op ($5k) a few years ago and I am about to pay for a hip replacement ($26k) both of which you would get on the NHS in the UK.

      How can they talk about making even more cuts to NZ's health system?

  3. Robert Guyton 3
    26 February 2024 at 6:47 pm

    "Ghahraman then allegedly stole twice from Scotties Boutique in Ponsonby – once on December 21 taking an item worth $2060 and then a second time on December 23, taking an item valued at $7223."

    An item (of clothing?) worth $2060? Then another "valued at $7223"

    ???????????????????????????????????????????????????????????????????????????

    https://www.stuff.co.nz/nz-news/350192964/police-set-lay-additional-charge-against-former-green-mp-golriz-ghahraman

  4. joe90 4
    26 February 2024 at 8:36 pm

    Fuck.

    //

    Ignacio (Nacho) Juárez

    @PenguiNacho

    It has finally happened. HPAI has been confirmed for the first time in Antarctica. Two skuas found at Primavera Station (Arg) and analysed by molecular biologists of the Spanish polar programme. Fingers crossed for the penguins and the seals next season

    https://twitter.com/PenguiNacho/status/1761836424989381068

    Scientists from the Severo Ochoa Molecular Biology Center of the Higher Council for Scientific Research (CSIC), dependent on the Ministry of Science, Innovation and Universities, have confirmed the presence, for the first time in Antarctica, of the Highly Pathogenic Avian Influenza virus.

    The group of scientists, led by CSIC researcher Antonio Alcamí, who works at the Spanish Antarctic Base “Gabriel de Castilla”, on Deception Island, confirmed the presence of the virus this past February 24.

    Specifically, the virus has been found in two samples of dead skuas (skuas), which were found by Argentine scientists near the Argentine Antarctic base “Primavera”.

    google translate

    https://www.ciencia.gob.es/Noticias/2024/febrero/gripe-aviar-antartida.html