Zero = Fail. Four years of economic stagnation. Four years of failed promises, we’ve heard them all before. While waiting for budget details, try this background reading:
A series of excellent posts on GDP by Rob Salmond at Pundit:
David Cunliffe weighs in with economic heavyweights at Red Alert:
Bryan Gould turns a critical eye on the government’s record:
Check out Labour’s site for reaction:
And The Greens:
We’ll add updates during the day…
Update: Seems the Nats’ preferred budget tag line is ‘Investing in the future’. Should have called it ‘Waiting for Godot’.
Update: Business reaction:
Budget 2012 – the fourth budget of the current National Government – is unlikely to be remembered for long, containing few surprises and little for opponents to sink their teeth into.
“Little” except for four years of stagnation and failed promises of course.
Removing the childcare, housekeeper and income-under-$9,880 tax credits will save the Government a further $117m …
Oh and the best part:
Children will now have to pay income tax on their after-school jobs but will have a limited exemption for cash-in-hand earnings such as babysitting.
Tax cuts for the rich, but we’re coming after school kids – how pathetic is that?
Update: Remember Labour budget headlines? They created Working for Families, KiwiBank, KiwiSaver and the like. Obvious headline items in the Fail Budget so far, canning auto-enrollment for KiwiSaver and big hikes for tobacco. How times change.
Update: Keith Ng has created a useful infographic showing where the money comes from and goes to.