Key’s laundry list of broken promises

Written By: - Date published: 10:58 pm, March 14th, 2012 - 57 comments
Categories: jobs, john key, privatisation, public services, tax, Unions - Tags: , ,

He must resign. Surely. Here is Key, speaking to the PSA in 2008, making very specific promises about public service jobs, tax cuts, and asset sales that helped him get elected. Promises he has since broken. There’s no excuse. He wasn’t blind-sided by events. He made these promises never intending to keep them. Key is refusing to comment but if the man has any ethics he’ll resign.

Here are the quotes from the PSA speech:

“We’re not going to cut jobs, we’re just capping at 36,000” – 2,500 jobs gone so far. For savings of $20 million, not the billion hoped for. 2,500 more jobs to go soon.

“We’re not borrowing for tax cuts” – National’s own Budget said the 2010 tax cuts would cost $1 billion over four years. They cost $1.1 billion in the first nine months.

“We’re not proposing to change the Employment Relations Act in a way that weakens unions” – and, yet, they have by allowing employers to block workers from meeting their union representatives in the workplace.

“there will be no asset sales in the first term of a National Government and there may never be asset sales in the years ahead” – National spent $6 million in Budget 2011, before the election, on preparing assets for sale. they were getting papers as early as 2010 on what assets to sell and how to spin it to the public.

“Nor am I hell-bent on selling assets, actually. I personally think that’s not the issue that the current economy faces…actually,I don’t think selling off state assets is going to make the boat go faster.” – Treasury and just about everyone else agrees. Yet National keeps claiming that asset sales are part of its growth strategy.

“The Crown’s dividend stream from the Meridians, the Mighty Rivers of the world is large.” – Funny, because for the past year Key and English have been saying the returns are below the cost of capital on owning these companies – which raises the question of why anyone else would want them. the truth is they are highly profitable. Even English’s biased numbers so the Crown losing $100m a year from asset sales.

“We don’t have a debt problem, they’re acting highly effectively as companies, and they’re making money – There is no motivation to sell assets.” – There is Key demolishing three more of what would soon become his own arguments for asset sales. And, despite the recession (which was already happening when he gave this speech) and the earthquakes, the Crown still doesn’t have a debt problem thanks to the fact that the Fifth Labour Government bequeathed zero net debt. Net debt’s going to peak at about 30%, well below the danger zone. It’s currently 27th lowest in the 34 member OECD. And, of course, selling assets rather than taking on more debt makes no difference to net wealth. In fact it makes it worse in the long-run as the government has to borrow an extra $100m a year to make up the shortfall from foregone profits.

“We’re about creating assets, actually, not about selling assets.” – This term, all they’re about is selling assets … and cutting jobs that Key promised not to cut.

“There is no agenda to sell assets.”- That promise helped him get power in 2008 with the near-certainty of a second term. It was a lie.

Don’t give me any bullshit about Key being forced to break his promises by events. He knew there was a global recession when he made these commitments – he was speaking during the campaign in October 2008, the steepest part of the recession, a year after the subprime crisis began, most of a year after the drought here, and months after the Lehman collapse. And he broke all those promises long before the earthquakes started.

57 comments on “Key’s laundry list of broken promises ”

  1. Hami Shearlie 1

    “If the man has any ethics he’ll resign”! People with ethics wouldn’t have made promises and broken them. People with ethics . Hmmmm, I’m sorry, I don’t think Jonkey knows any of them – he doesn’t rub shoulders with ethical people – he’s Merrill Lynch material!

    Jonkey can’t resign just yet anyway – he’s got too much grubby Nact laundry to wash – see you down at the laundromat John-John!!!

    • johnm 1.1

      Hi Hami Shearlie

      I agree. Shonkey made his pile at the Merrill Lynch ponzi scheme which like all ponzi schemes went bust but not before its operators got out with a lot of dough! Ethics ? Their ethics was make as much dinero for yourself as possible. Shonkey was in the London Office. The City is infamous for a total absence of any regulatory insight on financial transactions and has become with Wall Street the World Headquarters of Ponzi Schemes. AIG operated there along with Bernie Madoff.

      More of the World Shonkey comes from:

      “Goldman Exec Quits, calling firm toxic — CNN

      “It makes me ill how callously people talk about ripping their clients off,” he wrote. “Over the last 12 months I have seen five different managing directors refer to their own clients as ‘muppets,’ sometimes over internal e-mail.”

      — This is an amazing OpEd. Please read all of it. It’s in the NY Times.

      You know, there’s a part of me that perceives this as very significant moment. Someone from deep inside the Infinite Growth beast is condemning its inevitable devolution into blatant, open criminality, lacking all pretense of moral values. Greg Smith has done the world a valuable service and redeemed himself in many ways. GS is at or near the top of the pyramid (scheme) and the moral climate Smith describes is ubiquitous throughout the financial world, from the IMF, to the World Bank, to… everything.”

      “I have seen five different managing directors refer to their own clients as ‘muppets,'”
      Shonkey is so separated from the ordinary kiwi not wanting our assets sold off I am sure we might as well be muppets to him. He’s a neoliberal auto pilot zombie.

      Link:http://www.collapsenet.com/free-resources/collapsenet-public-access/news-alerts/item/6931-goldman-exec-quits-calling-firm-toxic

      • rosy 1.1.1

        “I have seen five different managing directors refer to their own clients as ‘muppets,”

        That’s one of Key’s favourites isn’t it – calling people muppets – the opposition, his adminstrative staff… even his wife, if I recall correctly. Hmmm I wonder where he picked that up from…

        • johnm 1.1.1.1

          Hi rosy
          Yes! Refer this standard article of 2009 “Memo from a muppet”

          “So John Key thinks I’m a Muppet.

          “[when I’m in Hawaii on holiday] they’ll send me stuff … those Muppets in the background who send it all to me”*

          Well f#ck you, John.

          While you’re off in Hawaii with your DPS pouring you drinks, I’ll be working. The days I do get on ‘holiday’ I have to be online and on-call to respond to the government’s latest stuff up. Christmas morning, first thing I’ll have to do is check the wires for any news I need to respond to or send off to the minister (if I can get hold of him). And, yeah, then I will sing Snoopy’s bloody Christmas with the kids, and I’ll have an eye on the phone the whole time.

          I don’t get to go to Hawaii. I don’t get six weeks holiday a year. I don’t get your wage. I don’t get to bribe journalists to like me with fancy bottles of wine paid for by my taxpayer salary (and, yeah, we got an inflation adjustment this year, whoo hoo). But I do the work because it needs to be done and I believe in it. I’m proud to work for the people of New Zealand, John. I don’t need your insults, you lazy, showboating, do-nothing, weak excuse for a Prime Minister.”

          Link: http://thestandard.org.nz/memo-from-a-muppet-2/

          Goldman Sachs MDs have: “Over the last 12 months I have seen five different managing directors
          refer to their own clients as ‘muppets,’ sometimes over internal e-mail.”

          Link:http://www.collapsenet.com/free-resources/collapsenet-public-access/news-alerts/item/6931-goldman-exec-quits-calling-firm-toxic

  2. ropata 2

    http://keyholes.co.nz/post/13195497123/capital-gains-tax-and-rents

    Capital gains tax and rents
    John Key say that a CGT will push up rents …

    Now rents and property are still bubbling along and making wealthy NACT voters happy.
    Thanks to Key’s short sighted attitude to CGT low income earners are worse off

    Shameful behaviour from the boy who was raised in a state house.

  3. fender 3

    ”………if the man has any ethics he’ll resign”.

    It’s safe to say he won’t be resigning then!

    He will quit however once the wealth transfer has been completed, though the extent of the wealth transfer potential should be knee-capped in 2014. For the sake of our country 2014 can’t come soon enough.

  4. Bazar 4

    ““There is no agenda to sell assets.”- That promise helped him get power in 2008 with the near-certainty of a second term. It was a lie.”

    That promise was made and held.
    There were no assets sold in the first term, as Key said.

    You seem to think that because they were elected in 2008, the NZ population is unable to change their mind, forced into some bizarre 6 year election cycle.

    Newsflash, the New Zealand population voted for this government, well aware that assets sales were part of the national policy.

    I’m amazed at the inability for a leftwinger to grasp such a simple premise.
    National said they would sell assets if they got into power this term, they made it clear, labour made it clear, greens made it clear, every party, reporter, and informed voter made it clear.
    There was no uncertainty in this, and people still voted for national, and thus for asset sales.

    And now you attribute nationals victory at the polls to little more then a old promise that held no relation to 2011, and as such proclaim Key as a liar.

    Hell you sound like a child having a tantrum while looking for an excuse to explain why their party lost.

    Grow Up.

    • Colonial Viper 4.1

      So you’re running the “Key has a mandate from the electorate” line.

      Well, why doesn’t Key spend $10M from the $6000M asset sales to run a referendum on the issue then?

      Or are you afraid that the NZ public will vote 80% or more against asset sales? Some mandate.

      • Bazar 4.1.1

        Because we only just had a referendum on the issue, and it was a binding referendum.

        Your asking for a non-binding referendum, that won’t have anywhere near the same coverage and detail, and just isn’t needed.

        I will add though, that i do believe if a referendum was given, that it’d be against asset sales.

      • Mark 4.1.2

        Should we have a referendum on the Ports Dispute as well?

    • rosy 4.2

      …”that held no relation to 2011″

      Worth remembering when righties go on about ‘they did it too’ whenever opposition to asset sales (or anything else) is directed from Labour to National.

    • starlight 4.3

      If nz’ers were in favour of asset sales they would have voted so he had ‘unbridled power’
      key did not get that,he had to get the support of maori,act,united future,to get a 1 seat majority,
      maori are not supporting asset sales.

      • Bazar 4.3.1

        “maori,act,united future,to get a 1 seat majority”

        National, Act, and United are enough at 63 Seats.

        The maori party are not needed, but as with the last term in government, included for stability and long term relations.

  5. Debatewatcher 5

    Interesting.

    John Key gave the speech to the PSA on 25 September 2008.

    Lehman collapsed on 15 September 2008.

    http://www.scoop.co.nz/stories/PO0809/S00271.htm
    http://en.wikipedia.org/wiki/Bankruptcy_of_Lehman_Brothers

  6. Blue 6

    It’s not really news that Key is a liar. His 2008 promise to cap, but not cut the public service was broken with impunity and he got away with it scot-free because the media and the public don’t care about public servants losing their jobs.

    The fact that it 100%, no arguments, no excuses, made him a liar fell by the wayside.

    I seem to remember some classless journalist clubbing Phil Goff for calling a spade a spade during one of last year’s election debates.

    Political reality check here – after nine years in Opposition, National and John Key would have promised any fucking thing under the sun to get back into power, with no intention whatsoever of keeping those promises, only doing whatever they needed to do to get a second term as well.

    And the media, compliant little sycophants that they are, whitewashed it all because it suited them to have a change, to have something new and shiny rather than another three years of the same. No responsibility, no ethics, just selfish, shallow greed.

    • rosy 6.1

      “after nine years in Opposition, National and John Key would have promised any fucking thing under the sun to get back into power”

      Would have… They did! I remember well ‘the yeah, yeah we’ll do that too’ from Key whenever labour came up with a policy decision that might trump tax cuts. The blatant cheek – and the MSM just laughed along with him – how cute they all were.

    • Peter 6.2

      Sad, but you are right!

  7. seeker 7

    “but if the man has any ethics he’ll resign.”
    He doesn’t and he therefore he won’t. I’m not at all sure that you can really call him a “man” either, I am sad to say. Very good post though Eddie.

  8. tsmithfield 8

    LOLZ Eddie. Your article can only be an attempt at distraction from the performance of Labour’s bumbling charisma-void of a leader.

    So, am I right in saying, that by the logic advanced in your article, Labour, if elected next time, will be breaking promises big time, they don’t scrap GST on fruit and veges, extend the in-work tax credit to the unemployed, introduce a capital gains tax etc etc. And before anyone advances the obvious and pathetic excuse that there is a new leader for Labour now, let me remind them that there is a thing called collective responsibility and the new leader was part of the team that crafted those promises.

    • felix 8.1

      If they were elected on those promises, yep.

      So no.

      Moran.

      • tsmithfield 8.1.1

        “If they were elected on those promises, yep. So no.”

        Well, Key wasn’t elected last year on the promises alluded to in the article, either. In fact, so far as asset sales goes, he specifically promised no asset sales in that previous term, and that asset sales would be put to voters in the next election, which is exactly what happened.

        So, it is comparing apples with apples and so the same goes for Labour, if promises from previous elections are to be considered relevant.

        “Moran.”

        Are you suggesting I am part of a historical Australian drug family?

        Or maybe you meant “moron”. In which case, the title would apply more aptly to you for not being able to spell it.

        • Te Reo Putake 8.1.1.1

          Whoosh! A joke goes flying over TS’s head. The world moves on …

        • felix 8.1.1.2

          “So, it is comparing apples with apples and so the same goes for Labour, if promises from previous elections are to be considered relevant.”

          Rot.

          Labour didn’t get elected on any of the promises you list. If they did, I’d expect them to stick to them. But they didn’t, so they can’t, and you’re arguing hypotheticals while the rest of us are talking about what National actually said and did.

          Trouble is you don’t have many options arguing in favour of John Key breaking his word so you’re finding it easier to argue about what might have happened in a parallel universe where National weren’t elected.

          Even that moran Matthew Hooton manages to mount a coherent argument in support of Key’s broken promises. Why can’t you?

        • Frank Macskasy 8.1.1.3

          No, Key was elected,

          * to create 170,000 new jobs.

          * Not to raise GST.

          * Capping state sector numbers – not cutting.

          * Stating that he didn’t want to see NZers “tenants in their own country”.

          * Raising wages.

          * Creating an economy where NZers would prefer to stay in NZ rather than migrate to Australia.

          * Yada, yada, yada.

          I’m sure I’ve left out a few things, TS – but you get my drift.

          What’ve we got instead…

          * Well, he’s combining several ministeries into one Soviet-style super-ministry.

          That’s it. Yay.

  9. TT 9

    It shouldn’t be a surprise to anyone. Key is a white collar criminal. He shouldn’t resign; he should be removed from power and spend the rest of his life in prison along with the rest of the ruling NACT junta.

  10. AAMC 10

    The only thing surprising here is the surprise with which the news delivered it. Why wasn’t this dug out pre election? Because the 4th estate has an established mantra around us Kiwi’s being good sorts and giving a Govt a couple a cracks at it before we start to hold them to account?
    This is a failure of the media, and it presentation as some great scoop when we’ve all been ranting on here and to friends about exactly these issues for years…

  11. vto 11

    .

    Hands up who would trust John Key.

    • vto 11.1

      Tell you who wouldn’t and no doubt didn’t and that is the audience at that speech. You could see it in their eyes, it was like they were watching a snake-oil salesman. Surprising that.

  12. insider 12

    I think John Key should do what Helen Clark and Michael Cullen did after interest free student loans didn’t cost what they said they would and what Pete Hodgson did after the $500m carbon credit cheque got lost in the post.

  13. vto 13

    Why does everyone pussyfoot around politicians who lie?

    It is like the fact that an MP is not allowed to be labelled a hypocrite in the house apparently. Weak and pathetic.

    It just stinks… “oh no, don’t call him a liar because he might call me a liar for a lie I made back whenever”. “No, don’t say anything too bad, lest it happens to me in reverse.” “Lighten the accusation in order that I only receive light accusations in return”.

    The participants in the political world are at these times complete shams. On all sides. The most lies in the country get spoken by politicians and it is unacceptable that it is permitted.

    If it looks like a duck and sounds like a duck …..

    Bullshit on a grand scale.

  14. He also must resign for the simple fact he has encorporated Goldman Sachs in auckland
    into national party policies.
    Just released to the media is an insider of Goldman Sachs in the US has waged a stinging
    attack on these ‘financial terrorists’,the sale of our assets came from GS in auckland,the ports
    in auckland and tauranga requiring a higher return came from GS,the first idea of asset sales
    to ‘pay down debt’ was mis-leading nz,then it changed to schools,health etc another GS
    offering to ‘soften’ the public’s acceptance.
    NZ is being governed by GS in auckland via their man key,when there are other options
    for nz including a capital gains tax.
    Key must step down,he is taking nz on a path to total distruction and needs to stop,a vote
    of no confidence by the public and in parliament needs to be held before it gets totally out
    of control.
    His statement of 2008 is a reflection on key’s character and integrity,missing in action.

    • johnm 14.1

      Hi starlight
      I agree Shonkey is GS material
      Would you be able to explain the connections you have alluded to more clearly? It is very important because GS is a criminal organisation that makes the MOB in terms of getting money out of muppet clients and daft governments bailing them out with taxpayer’s money look like amateurs.

      • starlight 14.1.1

        Interest.co.nz had an article on the goldman link with key,asset sales and the ports were discused at a meeting.

      • starlight 14.1.2

        There is an article by gareth vaughn also one about Goldman managing the sale of our assets.

        • johnm 14.1.2.1

          Thanks starlight I will look those references up. This is a scandal GS are the biggest bunch of financial terrorists in the World today. They are criminals who have committed massive fraud in the U$$$$$$$$$$$$$$$$$$$$$$ so big the Government couldn’t touch them so they employed them! If Key is connected to these Bastards that should sink him permanently. This should be highlighted by the docile MSM here. Hope eh!

          • starlight 14.1.2.1.1

            You also may be interested to learn that on the board of directors of the ports of auckland
            is Philipa Dunphy (deputy chair) asumed the position in 2010,with a 3yr contract, she
            was executive director of investment banking and head of debt capital for goldman
            sachs JB Were.
            There sure is shonkey deals going on,but we wont see it on main stream media.

            • johnm 14.1.2.1.1.1

              Criminal. Nz must stop being muppet sodomised by this criminal rubbish and bring back democracy. Otherwise its curtains for a decent society. Hi kiwi sheeple Baa Baa go back to sleep you stupid uninformed la la land fuckwits. AKA Mad cancerous ridden Mad fucking butcher.

            • johnm 14.1.2.1.1.2

              Hi starlight
              Again the GS connection with Shonkey and others boarders on the criminal.Why? because GS are criminals!

              These are the rich ponzi scheme mates Shonkey is getting advice from to sell OUR ASSETS. Makes you proud to be a New Zealander eh?

              The People vs. Goldman Sachs

              “They weren’t murderers or anything; they had merely stolen more money than most people can rationally conceive of, from their own customers, in a few blinks of an eye. But then they went one step further. They came to Washington, took an oath before Congress, and lied about it.

              Read more: http://www.rollingstone.com/politics/news/the-people-vs-goldman-sachs-20110511#ixzz1pE6NO6Zz

          • johnm 14.1.2.1.2

            Evidence to back up my assertion:

            Goldman Sachs Criminality?

            The People vs. Goldman Sachs
            Matt Taibbi: A Senate committee has laid out the evidence. Now the Justice Department should bring criminal charges

            Read more: http://www.rollingstone.com/politics/news/the-people-vs-goldman-sachs-20110511#ixzz1o1kkRbuz

            Goldman Sachs: Master Of The Universe

            By Stephen Lendman
            Link: http://www.countercurrents.org/lendman200410.htm

            “The scheme was to sell toxic asset-backed securities (ABSs) to unwary customers (including foreign banks, pension funds, insurance companies and others), then apparently use credit default swaps (CDSs) to profit when they defaulted, or in other words the equivalent of buying life insurance on an undisclosed terminally ill patient. More still, given Paulson & Co.’s role in helping to structure and select assets, then buying CDSs to short them, betting they’ll decline. Paulson thus far faces no charges. Goldman’s so far are civil. If criminal ones are filed, prosecutors will have to prove intent, perhaps coming given enough evidence to proceed.”

            Key is totally compromised using these crims to sell OUR ASSETS.

            • johnm 14.1.2.1.2.1

              Key is a sodomised muppet of Goldman Sachs albeit well paid! But must NZ become a sodomised muppet of these Bastards too? Decide Kiwi sheople BAA Baa.

              • johnm

                Further explanation of the World these psychopaths inhabit

                The World of John Key ex Merrill Lynch operative.
                Now flogging off our assets.

                “Greg Smith, an executive director at Goldman Sachs, announced his resignation Wednesday in an op-ed piece in the New York Times, denouncing the bank’s “toxic” culture of avarice and fraud.”

                Link: http://www.globalresearch.ca/index.php?context=va&aid=29782

                “Why I Am Leaving Goldman Sachs,” he describes a corporate environment that encourages and rewards big short-term returns gained through the bilking of clients and the general public. “It makes me ill how callously people talk about ripping their clients off,” he writes.

                Speaking of one’s clients as “muppets” and describing deal-making as “ripping eyeballs out” are commonplace at Goldman, according to Smith.

                “It confirms from the inside that three-and-a-half years after Wall Street’s manic pursuit of super-profits triggered a global financial meltdown and the deepest slump since the Great Depression, nothing has changed in the boardrooms of corporate America. The same fraudulent and often illegal practices that enriched the financial aristocracy and plundered the rest of society continue unabated. The criminals at the top, having been bailed out with trillions of taxpayer funds, are making more money than ever, while millions of ordinary people are being driven into poverty and homelessness.”

                “The criminalization of the American corporate-financial elite cannot be separated from the capitalist system itself. It is the product of a decades-long process of crisis and decay, in which the ruling elite has increasingly separated its wealth-making from the production of real value.”

        • johnm 14.1.2.2

          Further info on GS who are The Standard Bearers of the U$$$$$$$$$$$$$$$$$$ NeoLiberal establishment. That any NZers including Key would go to these people for assistance on selling our assets is an outrageous scandal.

          Our msm are pretty useless they should have picked up on this:

          “11 Reasons Why America Would Be A Better Place Without Goldman Sachs”

          Link: http://theeconomiccollapseblog.com/archives/11-reasons-why-america-would-be-a-better-place-without-goldman-sachs

          “#7 Goldman Sachs is working very hard to help state and local governments sell off our highways, water treatment plants, libraries, parking meters, airports and power plants to the highest bidder. Much of the time foreigners are the highest bidders for these precious infrastructure assets.

          The following is how Dylan Ratigan described what is going on….

          On Wall Street, setting up and running “Infrastructure Funds” is big business, with over $140 billion run by such banks as Goldman Sachs, Morgan Stanley, and Australian infrastructure specialist Macquarie. Goldman’s 2010 SEC filing should give you some sense of the scope of the campaign. Goldman says it will be involved with “ownership and operation of public services, such as airports, toll roads and shipping ports, as well as power generation facilities, physical commodities and other commodities infrastructure components, both within and outside the United States.” While the bank sees increased opportunity in “distressed assets” (ie. Cities and states gone broke because of the financial crisis), the bank also recognizes “reputational concerns with the manner in which these assets are being operated or held.”

          Gs have more than enough fiat U$$$$$$$$$$$$$$ juNk currency to buy up OUR ASSETS.Or charge interest on funding those who buy our assets.

          Shonkey is totally beholden to these Wall Street crims and virtually in bed with them. They’rehis ex mates from the Merrill Linch Ponzi scheme days. How he made his $50,000,000 dinero pile: He sure didn’t do any real work for it like say a Wharfie has to work!

  15. I also add to my post,Goldman Sachs is one of three ‘financial terrorists’ that are going
    to manage the sales of our tax payer owned assets, key,looking after his business mates,
    he is here for a reason and its sure isn’t to look after the citizens.

    • johnm 15.1

      Hi starlight
      more on Goldman Sachs

      These are the guys giving advice to their ex mate Shonkey on the sale of OUR ASSETS!
      “Goldman Sachs – Making
      Money By Stealing It
      By Stephen Lendman”
      Link: http://www.rense.com/general95/goldmanss.html

      “Money power in private hands and democracy can’t co-exist. Wall Street crooks transformed America into an unprecedented money making racket.

      Goldman symbolizes master of the universe manipulative fraud. It’s been involved in nearly all financial scandals since the 19th century.

      It makes money the old-fashioned way. It steals it through fraud, grand theft, market manipulation, front-running them, scamming investors, bribing political Washington, having its executives in top administration posts, and getting open-ended low or no interest rate bailouts when needed.

      It’s business model and culture assure billions of bonus dollars for company officials, complicit traders, and others on the take. It’s a crime family, not a bank. It’s connected to others like it on Wall Street and corrupt politicians”

  16. This stuff should have been all over the MSM for the last 3 years, but since Key had the longest media honeymoon in history they didn’t touch him with anything he couldn’t spin in his favour. Nat’s victory in the 2011 election is purely on the shoulders of the media for not informing people of what their government was doing. Most people don’t go to look this stuff up for themselves.

  17. aerobubble 17

    Key buys some expensive dresses, after hearing that the world is in the greatest
    global debt crisis in history, returning home he tells wifey that debt will blow out
    and she has to cull her spending, and how much is her family gold airloom again? He
    said he was not going to sell them, or sack the hired help, but now wifey just needs
    to get with the program and go back to work in the real economy (unpaid housework), and his explanation? The world global debt crisis he did not see coming.

    Key keeps abreast of the world economy, he made millions doing so, so its hard to fathom how the PM can argue he did not have a clue about the global debt crisis, and still doesn’t. Our debt is held privately and Key has increase government debt by lowering taxes for the wealth and raising them for the poorest. Two faced.

  18. “Don’t give me any bullshit about Key being forced to break his promises by events. He knew there was a global recession when he made these commitments – he was speaking during the campaign in October 2008, the steepest part of the recession, a year after the subprime crisis began, most of a year after the drought here, and months after the Lehman collapse. And he broke all those promises long before the earthquakes started.”

    Correct.

    The Banking Crisis was in full swing in 2008, and Cullen took Key to task on all his promises. Slippery John simple employed his usual trick; deny, deny, deny.

    By the time Joe Public began to realise what was going on, it was too late and Dear Leader had been elected.

  19. johnm 19

    Selling the cow to buy the milk
    Nats are selling off our Power Company assets to prove to their ideological mates they’re still part of the club. Why does predatory finance want Public Wealth so much?

    Huge funds (like sovereign wealth funds) are frustrated by the near zero rates of return on offer (due to central banks refusing to let rates rise with their QE programs), use their considerable political leverage to get governments (like NZ) to change or modify laws allowing them to buy key income producing assets like Power Companies – so that their return on investment bumps up to 8 – 9% (from 1/2 %)( Power Companies were returning 15% I believe). Citizens end up losing the key income producing asset that their taxes built and maintained for generations. They also will be subjected to rampant extra ticket clipping cost rises – as reckless, loose monetary policies continue to debase the currency – forcing the new owners to ‘keep up with inflation’ by jacking up utility access costs. This is a clear wealth transfer scheme orchestrated by John Key and Bill English at the expense of the New Zealand tax payer.

    • KeepOurAssetsDon'tSell. 19.1

      It all boils down to the Ponzi Monetary system.
      The Financialization of everything by robbing country’s of their infrastructure via selling out to private interests with the help of the Bank’s Fake Money.
      show me a place, in the World today, where financial turmoil doesn’t exist. We are all locked into this shit. Every hedge fund manager is shitting themselves, no one knows where the safe bets are. All talks of any escape is just blowing off steam and ‘the grass is greener’. I’m ready to emigrate but waiting to see which land provides some shelter from the storm by disassociating itself from the ‘free market’.

  20. stuart 20

    key has promised 170000 new jobs by 2014 it was bs at election and total bs now the only promise this prick will keep is to steal our assets i still think he will resign before 2014 job done !why should we except worthless paper money for hard assets at the very least we should ask for gold

Links to post

Recent Comments

Recent Posts

  • EV road user charges bill passes
    Transport Minister Simeon Brown has welcomed the passing of legislation to move light electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs) into the road user charges system from 1 April.  “It was always intended that EVs and PHEVs would be exempt from road user charges until they reached two ...
    BeehiveBy beehive.govt.nz
    13 hours ago
  • Bill targets illegal, unregulated fishing in international waters
    New Zealand is strengthening its ability to combat illegal fishing outside its domestic waters and beef up regulation for its own commercial fishers in international waters through a Bill which had its first reading in Parliament today. The Fisheries (International Fishing and Other Matters) Amendment Bill 2023 sets out stronger ...
    BeehiveBy beehive.govt.nz
    14 hours ago
  • Reserve Bank appointments
    Economists Carl Hansen and Professor Prasanna Gai have been appointed to the Reserve Bank Monetary Policy Committee, Finance Minister Nicola Willis announced today. The Monetary Policy Committee (MPC) is the independent decision-making body that sets the Official Cash Rate which determines interest rates.  Carl Hansen, the executive director of Capital ...
    BeehiveBy beehive.govt.nz
    15 hours ago
  • Stronger protections for apartment owners
    Apartment owners and buyers will soon have greater protections as further changes to the law on unit titles come into effect, Housing Minister Chris Bishop says. “The Unit Titles (Strengthening Body Corporate Governance and Other Matters) Amendment Act had already introduced some changes in December 2022 and May 2023, and ...
    BeehiveBy beehive.govt.nz
    17 hours ago
  • Travel focused on traditional partners and Middle East
    Foreign Minister Winston Peters will travel to Egypt and Europe from this weekend.    “This travel will focus on a range of New Zealand’s traditional diplomatic and security partnerships while enabling broad engagement on the urgent situation in Gaza,” Mr Peters says.   Mr Peters will attend the NATO Foreign ...
    BeehiveBy beehive.govt.nz
    17 hours ago
  • Keep safe on our roads this Easter
    Transport Minister Simeon Brown is encouraging all road users to stay safe, plan their journeys ahead of time, and be patient with other drivers while travelling around this Easter long weekend. “Road safety is a responsibility we all share, and with increased traffic on our roads expected this Easter we ...
    BeehiveBy beehive.govt.nz
    20 hours ago
  • Cost of living support for over 1.4 million Kiwis
    About 1.4 million New Zealanders will receive cost of living relief through increased government assistance from April 1 909,000 pensioners get a boost to Superannuation, including 5000 veterans 371,000 working-age beneficiaries will get higher payments 45,000 students will see an increase in their allowance Over a quarter of New Zealanders ...
    BeehiveBy beehive.govt.nz
    20 hours ago
  • Tenancy reviews for social housing restart
    Ensuring social housing is being provided to those with the greatest needs is front of mind as the Government restarts social housing tenancy reviews, Associate Housing Minister Tama Potaka says. “Our relentless focus on building a strong economy is to ensure we can deliver better public services such as social ...
    BeehiveBy beehive.govt.nz
    20 hours ago
  • Kermadec Ocean Sanctuary plan halted
    The Kermadec Ocean Sanctuary will not go ahead, with Cabinet deciding to stop work on the proposed reserve and remove the Bill that would have established it from Parliament’s order paper. “The Kermadec Ocean Sanctuary Bill would have created a 620,000 sq km economic no-go zone,” Oceans and Fisheries Minister ...
    BeehiveBy beehive.govt.nz
    21 hours ago
  • Cutting all that dam red tape
    Dam safety regulations are being amended so that smaller dams won’t be subject to excessive compliance costs, Minister for Building and Construction Chris Penk says. “The coalition Government is focused on reducing costs and removing unnecessary red tape so we can get the economy back on track.  “Dam safety regulations ...
    BeehiveBy beehive.govt.nz
    21 hours ago
  • Drought support extended to parts of North Island
    The coalition Government is expanding the medium-scale adverse event classification to parts of the North Island as dry weather conditions persist, Agriculture Minister Todd McClay announced today. “I have made the decision to expand the medium-scale adverse event classification already in place for parts of the South Island to also cover the ...
    BeehiveBy beehive.govt.nz
    22 hours ago
  • Passage of major tax bill welcomed
    The passing of legislation giving effect to coalition Government tax commitments has been welcomed by Finance Minister Nicola Willis.  “The Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Bill will help place New Zealand on a more secure economic footing, improve outcomes for New Zealanders, and make our tax system ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Lifting economy through science, tertiary sectors
    Science, Innovation and Technology Minister Judith Collins and Tertiary Education and Skills Minister Penny Simmonds today announced plans to transform our science and university sectors to boost the economy. Two advisory groups, chaired by Professor Sir Peter Gluckman, will advise the Government on how these sectors can play a greater ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Government announces Budget priorities
    The Budget will deliver urgently-needed tax relief to hard-working New Zealanders while putting the government’s finances back on a sustainable track, Finance Minister Nicola Willis says.  The Finance Minister made the comments at the release of the Budget Policy Statement setting out the Government’s Budget objectives. “The coalition Government intends ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Government to consider accommodation solution
    The coalition Government will look at options to address a zoning issue that limits how much financial support Queenstown residents can get for accommodation. Cabinet has agreed on a response to the Petitions Committee, which had recommended the geographic information MSD uses to determine how much accommodation supplement can be ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Government approves extension to Royal Commission of Inquiry into Abuse in Care
    Cabinet has agreed to a short extension to the final reporting timeframe for the Royal Commission into Abuse in Care from 28 March 2024 to 26 June 2024, Internal Affairs Minister Brooke van Velden says.                                         “The Royal Commission wrote to me on 16 February 2024, requesting that I consider an ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • $18m boost for Kiwis travelling to health treatment
    The coalition Government is delivering an $18 million boost to New Zealanders needing to travel for specialist health treatment, Health Minister Dr Shane Reti says.   “These changes are long overdue – the National Travel Assistance (NTA) scheme saw its last increase to mileage and accommodation rates way back in 2009.  ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • PM’s Prizes for Space to showcase sector’s talent
    The Government is recognising the innovative and rising talent in New Zealand’s growing space sector, with the Prime Minister and Space Minister Judith Collins announcing the new Prime Minister’s Prizes for Space today. “New Zealand has a growing reputation as a high-value partner for space missions and research. I am ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Concerns conveyed to China over cyber activity
    Foreign Minister Winston Peters has confirmed New Zealand’s concerns about cyber activity have been conveyed directly to the Chinese Government.     “The Prime Minister and Minister Collins have expressed concerns today about malicious cyber activity, attributed to groups sponsored by the Chinese Government, targeting democratic institutions in both New ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Independent Reviewers appointed for School Property Inquiry
    Independent Reviewers appointed for School Property Inquiry Education Minister Erica Stanford today announced the appointment of three independent reviewers to lead the Ministerial Inquiry into the Ministry of Education’s School Property Function.  The Inquiry will be led by former Minister of Foreign Affairs Murray McCully. “There is a clear need ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Brynderwyns open for Easter
    State Highway 1 across the Brynderwyns will be open for Easter weekend, with work currently underway to ensure the resilience of this critical route being paused for Easter Weekend to allow holiday makers to travel north, Transport Minister Simeon Brown says. “Today I visited the Brynderwyn Hills construction site, where ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Speech to the Infrastructure Funding & Financing Conference
    Introduction Good morning to you all, and thanks for having me bright and early today. I am absolutely delighted to be the Minister for Infrastructure alongside the Minister of Housing and Resource Management Reform. I know the Prime Minister sees the three roles as closely connected and he wants me ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Parliamentary network breached by the PRC
    New Zealand stands with the United Kingdom in its condemnation of People’s Republic of China (PRC) state-backed malicious cyber activity impacting its Electoral Commission and targeting Members of the UK Parliament. “The use of cyber-enabled espionage operations to interfere with democratic institutions and processes anywhere is unacceptable,” Minister Responsible for ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • NZ to provide support for Solomon Islands election
    Foreign Minister Winston Peters and Defence Minister Judith Collins today announced New Zealand will provide logistics support for the upcoming Solomon Islands election. “We’re sending a team of New Zealand Defence Force personnel and two NH90 helicopters to provide logistics support for the election on 17 April, at the request ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • NZ-EU FTA gains Royal Assent for 1 May entry to force
    The European Union Free Trade Agreement Legislation Amendment Bill received Royal Assent today, completing the process for New Zealand’s ratification of its free trade agreement with the European Union.    “I am pleased to announce that today, in a small ceremony at the Beehive, New Zealand notified the European Union ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • COVID-19 inquiry attracts 11,000 submissions
    Public consultation on the terms of reference for the Royal Commission into COVID-19 Lessons has concluded, Internal Affairs Minister Hon Brooke van Velden says.  “I have been advised that there were over 11,000 submissions made through the Royal Commission’s online consultation portal.” Expanding the scope of the Royal Commission of ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Families to receive up to $75 a week help with ECE fees
    Hardworking families are set to benefit from a new credit to help them meet their early childcare education (ECE) costs, Finance Minister Nicola Willis says. From 1 July, parents and caregivers of young children will be supported to manage the rising cost of living with a partial reimbursement of their ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Unlocking a sustainable, low-emissions future
    A specialised Independent Technical Advisory Group (ITAG) tasked with preparing and publishing independent non-binding advice on the design of a "green" (sustainable finance) taxonomy rulebook is being established, Climate Change Minister Simon Watts says.  “Comprising experts and market participants, the ITAG's primary goal is to deliver comprehensive recommendations to the ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Chief of Army thanked for his service
    Defence Minister Judith Collins has thanked the Chief of Army, Major General John Boswell, DSD, for his service as he leaves the Army after 40 years. “I would like to thank Major General Boswell for his contribution to the Army and the wider New Zealand Defence Force, undertaking many different ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Minister to meet Australian counterparts and Manufacturing Industry Leaders
    25 March 2024 Minister to meet Australian counterparts and Manufacturing Industry Leaders Small Business, Manufacturing, Commerce and Consumer Affairs Minister Andrew Bayly will travel to Australia for a series of bi-lateral meetings and manufacturing visits. During the visit, Minister Bayly will meet with his Australian counterparts, Senator Tim Ayres, Ed ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Government commits nearly $3 million for period products in schools
    Government commits almost $3 million for period products in schools The Coalition Government has committed $2.9 million to ensure intermediate and secondary schools continue providing period products to those who need them, Minister of Education Erica Stanford announced today. “This is an issue of dignity and ensuring young women don’t ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Speech – Making it easier to build.
    Good morning, it’s great to be here.   First, I would like to acknowledge the New Zealand Institute of Building Surveyors and thank you for the opportunity to be here this morning.  I would like to use this opportunity to outline the Government’s ambitious plan and what we hope to ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Pacific youth to shine from boost to Polyfest
    Minister for Pacific Peoples Dr Shane Reti has announced the Government’s commitment to the Auckland Secondary Schools Māori and Pacific Islands Cultural Festival, more commonly known as Polyfest. “The Ministry for Pacific Peoples is a longtime supporter of Polyfest and, as it celebrates 49 years in 2024, I’m proud to ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • 2024 Ngarimu VC and 28th (Māori) Battalion Memorial Scholarships announced
    ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Speech to Breast Cancer Foundation – Insights Conference
    Before moving onto the substance of today’s address, I want to recognise the very significant and ongoing contribution the Breast Cancer Foundation makes to support the lives of New Zealand women and their families living with breast cancer. I very much enjoy working with you. I also want to recognise ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Kiwi research soars to International Space Station
    New Zealand has notched up a first with the launch of University of Canterbury research to the International Space Station, Science, Innovation and Technology and Space Minister Judith Collins says. The hardware, developed by Dr Sarah Kessans, is designed to operate autonomously in orbit, allowing scientists on Earth to study ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Speech to the New Zealand Planning Institute
    Introduction Thank you for inviting me to speak with you today and I’m sorry I can’t be there in person. Yesterday I started in Wellington for Breakfast TV, spoke to a property conference in Auckland, and finished the day speaking to local government in Christchurch, so it would have been ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Support for Northland emergency response centre
    The Coalition Government is contributing more than $1 million to support the establishment of an emergency multi-agency coordination centre in Northland. Emergency Management and Recovery Minister Mark Mitchell announced the contribution today during a visit of the Whangārei site where the facility will be constructed.  “Northland has faced a number ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Celebrating 20 years of Whakaata Māori
    New Zealanders have enjoyed a broader range of voices telling the story of Aotearoa thanks to the creation of Whakaata Māori 20 years ago, says Māori Development Minister Tama Potaka. The minister spoke at a celebration marking the national indigenous media organisation’s 20th anniversary at their studio in Auckland on ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Some commercial fishery catch limits increased
    Commercial catch limits for some fisheries have been increased following a review showing stocks are healthy and abundant, Ocean and Fisheries Minister Shane Jones says. The changes, along with some other catch limit changes and management settings, begin coming into effect from 1 April 2024. "Regular biannual reviews of fish ...
    BeehiveBy beehive.govt.nz
    7 days ago

Page generated in The Standard by Wordpress at 2024-03-28T17:13:02+00:00