Just to clarify, I think the Nats are a terrible government.
I just think these comparisons are fucking stupid.
An alternative (devils advocate) analysis as evidenced by electoral results is the country supports Labour when we have money to spend, and National when times are tough and we need more prudent managers of the economy.
True enough. The UK would have a similar comparison if you compared the Blair/Brown Labour Government to the last five years under the stewardship of the Conservatives. The point being the general populous (or at lease the significant part that decides elections) has the view that Labour left the finances of the State in a mess and that is why the right leaning parties come in to fix it up.
Not the case in NZ.
When National took over we had had a series of black budgets under Labour.
How much of the financial crisis has been compounded by the ‘austerity’ measures.
If governments stop spending the economy grinds down.
Yet we don’t have “prudent managers”. Instead we have Nationals pork barrel politics. An ardent desire to turn this country into a banana republic. A satellite state to be sucked dry by the increasingly desperate USA.
don’t forget the earthquake saw an injection of $2-5bn into our economy from an outside source (re-insurers) which helped with stimulus in Christchurch which wouldn’t have been there without an earthquake.
Of more interest to me is the lampooning of the allegedly economically illiterate Green contenders for male co-leader for not knowing the current rate of inflation but no such lampooning for master of economic management, Bill English for
“Finance Minister Bill English says he does not know what effect the new rules on taxing capital gain on residential properties and new disclosure rules from non-resident buyers will have on the rising Auckland property market. ”
Either he is worse than the Greens (upon whom expectations of economic literacy are lower than English) or it was so ruched it has no background upon which to predict impact.
Christchurch earthquake equals 40 billion dollars of extra work paid for by insurance companies equals extraordinary item gift for G D P figures.
Nationals performance would be even worse without the Christchurch disaster!
GDP is an utterly hopeless measure of how any government is leading an economy. And are we really back to banging the drum of moar economic growth = better? What about sustainability using a steady state economy?
To be fair I think GDP is fairly rubbish too, but these things are what the Nats say are important, so if they can’t get those right…
As Robert Kennedy put it – GDP measures all but that which we hold most dear. But other measures of economic “success” are a whole lot more difficult. If you try and factor environmental and social factors in there as well it gets worse.
But that doesn’t mean we shouldn’t try.
At the very least they should measure GDP per capita growth – simple and means you can’t fudge the figures by just adding people.
But really you want to measure the change in total capital – environmental, social as well as economic. So if you dig up all the oil & coal and sell it off, and leave the environment a mess you take into account that the country doesn’t have the oil/coal to sell again and also that the lower living standards people have from the degraded environment ie you take into account the losses, not just the profits from selling natural resources.
But yeah, the banners are merely measuring National by their own standards – and with their own simplicity.
I can see the point of hoisting the NATs up on their own petard, but really all Labour is doing is reaffirming to the electorate that Labour buys into the same orthodox economic ethos – more growth is good, more GDP is good, running surpluses are good.
I think that for most people the banner make sense.
X amount under red
x amount under blue
done.
This is how people vote. Remeber? National the fiscally responsible party that will make all our lives betterer than it was under the nanny state when Labour was at the helm?
Well National pretend the GFC did not happen all the time, every time they say Labour left the country with a decade of deficits. Do you criticise them too?
I am not blaming National for a decade of deficits due to the GFC.
I am blaming National and Bill English for pretending that they could and would achieve a surplus, that things will get betterer to win an election instead of being honest and saying it’s not gonna happen because of a. b. c.
I am blaming National for spending money on a flag change when we are out of money.
I am blaming National for spending money on troops against Isis.
I am blaming National for spending money on vanity projects while ignoring the needs of the country.
They ran on their fiscal responsibilty and their financial savy and promised a surplus, better raises etc etc. Now they get to eat crow, and frankly they should.
the have heeped scorn and abuse on so many of our most vulnerable members of society, i think it is just fair that some of us actually hold them accountable.
“”I am blaming National and Bill English for pretending that they could and would achieve a surplus, that things will get betterer to win an election instead of being honest and saying it’s not gonna happen because of a. b. c.””
I don’t think national have ever really cared if they hit surplus , but its been a terrific excuse to slash services and screw down on the poor.
Sabine. High five! I first went right off key (although even then thought he was a incompetent tosser) when they spent so much money on the gg residence. I have heard 40ml but stand to be corrected as this amount seems to be exorbitant. Wonder who got the contract?
Since then the list goes on. Money for 1% nothing for us losers.
“Since our forecasts were finalised at the end of August, there have been further developments in the global financial crisis, particularly in the US. These developments increase the downside risks to these forecasts.”
“Growth is forecast to be positive in the final quarter of 2008 thanks to the recovery from the drought and tax cuts, but will remain subdued throughout most of 2009 as negative influences continue to affect the economy. As the world economy recovers, the domestic economy picks up and inflation and monetary conditions ease, growth will return above trend later in the forecast period, driven initially by increased exports (Figure 1.1). With economic activity forecast to be lower than in the Budget Update, core Crown tax revenue is expected to be $3,148 million lower in aggregate over the next four years.”
In reading the Executive Summary and other parts of the PREFU it seems to me that global economic conditions (referred to as the ‘global financial crisis’) are repeatedly mentioned as an important contributing factor in their forecasts.
I agree that domestic “imbalances” are also mentioned as ‘unwinding’ – but the GFC is a big part of predicted reductions in growth and therefore tax revenues and increases in spending (on benefits, Kiwisaver, etc.).
You mean like Labour criticising National for the deposit guarantee scheme that Labour set up?
I bought a whole lot of shares in 2007. They plummeted disastrously under Labour, and have gone up significantly and continuously ever since National came to power.
But I’d have to be an idiotic simpleton on par with bunji to think that was solely down to who was in power.
So are you saying that bunji and the entire front bench of the National Party should be criticised for drawing ridiculous conclusions on who should be to blame for certain events?
I haven’t heard the whole front bench of National blaming Labour for the global financial crisis.
There were plenty of Labour candidates last election blaming National for running deficits while they ran surpluses – effectively ignoring that the GFC ever happened. But obviously the voting public saw the ridiculous comparisons for what they were.
If you want votes, first you have to be seen as living in the real world – not a delusional one.
Labour always get greater per capita GDP than the bought party. The bought party always has a bunch of Quislings like you lining up to shift the blame, and then you pretend to be into personal responsibility.
Que? National trots the “its all Labour’s fault every chance it gets”.
Labour does not blame National for the GFC. It criticises National for making unattainable promises to get the books black into credit, for giving tax cuts to the wealthy the country cannot afford, for selling off our profitable assets and for having no growth strategy apart from more dairy. National can be blamed for continuously running deficits for the fact that it gave unaffordable tax cuts.
Average 3.7% GDP growth over nine years of Lab5, against National’s record. This is in line with New Zealand history. Hardly surprising when you consider that unemployment is always higher under National.
Still you don’t seem to grasp the facts: under all economic conditions experienced thus far, annual per capita gdp growth is lower when the Masters of Finance occupy the Treasury benches.
This time, your excuse is the GFC, and, poppet, the GFC didn’t force the Masters of Finance to slash government revenue.
Why is it that when it comes to analysing Labour’s economic performance there was no GFC but when it comes to National’s economic performance there is nothing but GFC.
The Labour years were BEFORE the GFC so it’s pretty obvious why it’s not linked to Labours performance.
[I get tired with RWNJs saying that the decade of deficits was because of Labour decisions and not because of the GFC. For your information the GFC started in 2007 and in 2008 Clark and co were in full adaption mode. Post another idiot comment where you deny this without pristine proof and I will start to treat you as a troll – MS]
MS says “I get tired with RWNJs saying that the decade of deficits was because of Labour decisions and not because of the GFC.”
Time to get reading lessons, or some new glasses –
I said “The deficits are because of the GFC, and would have been there regardless of whether Labour or National was in power.”
And you really think the GFC had and impact on the growth and debt stats under Labour before it even happened (which is 90% of the period under discussion).
The deficit aren’t “because” of the GFC, John, the deficits are there because NZ’s economy is fragile, unbalanced, and undiversified. The deficits also continue because National is both visionless and gutless, combined with typical right wing short term opportunism.
But since you don’t understand anything about real economics, it never occurred to you that this was the case.
Because of the GFC –
– other countries buy fewer of our products, so there’s less tax on company profits
– fewer workers are required to make those products, so there’s less paye
– the (now unemployed) workers have less to spend, so there’s less gst
– less tourists come from countries suffering from the GFC, so they spend less, and the whole cycle continues in the tourism sector with less gst, less company profits, fewer workers, less paye.
– and significantly more spent on benefits
And you don’t think the deficit is caused by the GFC. Yeah right.
you’re not paying attention, John. The GFC is but one external environmental factor. Its the internal factors that successive governments have fucked up, creating a narrow economy which lacks depth and diversity. Open your eyes.
When ALL your overseas clients are suffering from the GFC and EVERY company in EVERY country slashes their spending budgets, it doesn’t matter what you produce .
as usual, wrong again. If National truly believe that, they should stop wasting our oxygen, fuck off, and let people who can make a real difference for ordinary NZers take charge.
The whole idea of government running a surplus is absurd. I would far prefer that households and SMEs run the surplus instead of the Crown – i.e. that ordinary people get to have a decent income, get to save more, get to run their businesses at a profit.
No mate – it goes to competence. Bill English promised surpluses – cannot deliver them – not just once or twice but seven times in a row. The non-delivery of surpluses by Bill has become a statistical certainty.
Labour wants to run deficits it just doest know it yet. I have been explaining this to you for weeks now and you said the issue was lying, not that deficits were a problem (which they are not). Are you revising that position?
Modern Labour tends to want to run the economy on Kensian lines. When things are good stash money away. When things are bad open up the purse strings.
The last Labour Government was happy to start spending. There was a plan to have a mini budget at the end of 2008 if they were reelected. I am not disagreeing with you.
I am disagreeing with John’s claim that the decade of deficits was because of the fifth Labour Government. And it irks that he suggests that National should be cut some slack because of the GFC but not Labour.
mickeysavage says “I am disagreeing with John’s claim that the decade of deficits was because of the fifth Labour Government. ”
I think you’re arguing against something that I never said.
The deficits are because of the GFC, and would have been there regardless of whether Labour or National was in power.
In the 2000s, New Zealand was spending 115% of what it earned, every year, year after year.
That is a totally unsustainable position and where Labour stuffed up was they didn’t do a thing about it.
Under Labour private debt skyrocketed 166% from $60b to $160b, and they didn’t do a thing to stop massive house price inflation, not just in Auckland as is the case now, but across the other 70% of houses as well.
What did Labour do to stop it? Nothing.
At least this govt has tightened up on claiming depreciation, speculators, LAQCs, low deposit loans, bigger bank reserves etc.
“The Labour years were BEFORE the GFC so it’s pretty obvious why it’s not linked to Labours performance.”
Disagreed. The GFC started during Labour’s term. The GFC had everything to do with the downturn and the “decade of deficits”.
“The deficits are because of the GFC, and would have been there regardless of whether Labour or National was in power.”
Disagreed. National’s “fiscally neutral” tax cuts basically sucked a billion dollars out of the state’s books each year. There would have been deficits for a while but they have been much worse because of National’s tax cuts.
Crown control over private debt? FFS when we suggested people should use eco friendly light bulbs there was hell to pay. Blaming us for not strong arming people into borrowing less is a bit rich.
John’s comment was dead on to begin with. There would have been similar sized deficits regardless if labour was elected. Labour needs to explain why the deficits are necessary and stop playing a game of irrelevant political football with the constant carping on about what they could get away with before the GFC.
Mickey – Labour didn’t so much as lift a finger while they watched a housing bubble caused by skyrocketing debt, and a country spending 115% of what it earned every year.
The current govt has put in place numerous measures to curtail private debt and housing bubbles.
And Labour complains it’s not enough.
Which makes your weak excuses for not doing anything look hollow and hypocritical.
theres no need for the government to “stash money away for a rainy day.”
Why would there ever be a need for the government to stash away electronic ones and zeroes that it can enter by keyboard any time that it wants to? How on earth do you “stash” digital digits, anyway?
The “real world”? Don’t make me laugh John. I agree that the NATs needed to deficit spend, but their lack of a credible long term vision for NZ has been shocking. Under their leadership NZ does all it can to stumble from year to year with no cohesive long term economic planning.
I am not defending the current government’s record by any means! What I am criticising is this clap trap language that infers deficits are inherently bad and that running surpluses are inherently good. This is implied in the language Labour has used and indeed campaigned on and in this original post.The fact that Labour ran a series of surpluses is not in itself good or bad. Classical and neo-Keynsian economic theory argues that governments should build surpluses when the economy thrives and run deficits when the economy is struggling.
IF the current regime claim there has been no serious economic crisis post GFC it should be moving towards and running surpluses. We know this isn’t true so we should expect them to run deficits and indeed we should encourage it. We might want to argue over what it is being spent on, of course, but my basic point remains.
Conversely, IF the previous Labour regime were running surpluses during economic upswings, this should be expected and encouraged. However, IF they were running surpluses during economic recession, they should be admonished.
The point is, simply comparing Labour’s surplus record juxtaposed to the Nat’s deficit record, devoid of economic context, is disingenuous at worst, and plain ignorant at best
In fact Labour weren’t too hot economically either – little realised growth in terms of capacity or productivity, few to no new jobs, little effort to address problems like housing or the balance of payments, much less winding back the employment ‘reforms’ of the black decade.
But they were basically competent, unlike the screaming heap that National is. Solid Energy is a fair analogy for National’s management of the economy – they wrecked it without even making a profit.
We still have one of the lowest unemployment rates in the western world because National have held off on implementing austerity and govt debt reduction measures.
Massaged numbers – tightening Winz policies and lies about ‘the lowest ever unemployment rate’ that anyone alive in the 1980s knows were patently false.
Clue: what’s wrong is not that people are doing well.
What’s wrong is that many people are struggling, hungry, homeless.
How much was your student loan, and how much were your training/course fees?
How much were the “voluntary” fees your parents shelled out to your school?
What about your parents – did they get any assistance, or a state house?
Or are you one of the infintesimally small few people who earn well over the average wage while having zero qualifications?
I’m wondering if the reason why 3 million Kiwis don’t earn $70k, live in central Ak etc. is that we live a world that requires mass poverty and unemployment in order for the economy to function so that people like you can be the exception to the rule.
I was suspicious of the high level of emissions attributed to NZ livestock lately.
I’ve just come across figures for 2003 – 2013 contending that, globally, fossil fuels and cement accounted for,on average, about 8.6 Gt or 92% of anthropogenic carbon emissions per year and land use accounted for about 0.8Gt or 8% per year.
Disagree with this line of thinking. There is no reason fossil fuel use must track GDP growth. The government should invest in employing people to create a sustainable economy. If it does this on a large enough scale then it’s quite possible for GDP to grow and the economy to become sustainable (with lower energy use) at the same time.
On the other hand if the government wants to cause a recession or depression then it’s going to be unpopular and they will quickly be out of office. That will be curtains for plans to move onto a sustainable path no doubt.
The economy is not going to by itself onto a sustainable path. The government must intervene and buy up outputs towards it.
As for growing an economy while aiming for sustainability…from these six eggs I have, I want to make an omelet while wanting for six chicks to hatch.
Meanwhile,most of the western world is being plunged into recession and depression, in part, due to policies pursuing austerity. Those governments haven’t been kicked out and ,in fact, have been re-elected.
Sorry, that kind of thinking doesn’t cut it. Explain why if you have some sustainability policy (say reforestation) the government can’t pay for it to happen.
The government can pay for such things. That’s not a biggie.
But if you want a growing economy, then that means more production and consumption. And that’s profit driven, not ‘lets be nice to the environment’ driven. If you find that objectionable (as I do) then you’ll have no option but to adopt a market abolitionist position.
Then, with the profit motive gone, we can look at steady state or ‘environmentally mindful’ economic models.
Closer but you are not there yet. GDP has three main components, consumption, investment and government spending. So growing GDP does not mandate growing consumption. Also not all consumption is a measure of physical consumption it also counts service spending and all kinds of sustainable consumption. There is no solid link between growth of GDP and growth of the physical demands of that economy. In considering how to deal with this issue there also needs to be a distinction between markets with and without government intervention including regulation for socially desirable outcomes.
Closer but you are not there yet. GDP has three main components, consumption, investment and government spending. So growing GDP does not mandate growing consumption. Also not all consumption is a measure of physical consumption it also counts service spending and all kinds of sustainable consumption. There is no solid link between growth of GDP and growth of the physical demands of that economy. In considering how to deal with this issue there also needs to be a distinction between markets with and without government intervention including regulation for socially desirable outcomes.
No, including energy use tracking with GDP. If you think of an alternative real economy (a sustainable one) then the payments for that can obviously be arranged in essentially any manner. Arguing that it has to be that way then is also claiming there is no real alternative economy possible. The fact Fossil fuel use tracks GDP is just a coincidence due to the world running a non-sustainable economy but that can change.
It’s also not true for many countries but industrial production being sent offshore is a large component of that, so it’s not a clear cut example.
Claims about science fictions and utopia as side, I was discussing with Bill how to grow GDP while shrinking the ecological footprint of the economy. When he says that we must first abolish markets and first instate some other (yet to be defined) system he is the person advocating for inaction.
Paid work (and profits) is a powerful incentive and should be used to take action on climate change now.
At the end of the day the only answer I can see is for a fifteen to twenty year war-time like effort to move NZ 90% off fossil fuels and also towards autarky in strategic areas. We will burn a lot of fossil fuels and consume a lot of resources in the process to do so – but at least they will be available at this time.
After this next fifteen year window passes, it’ll be too late to do anything more than localised/regional makeshift initiatives to try and make life survivable and decent.
National is 1/10 towards what is needed. Labour is 3/10 towards what is needed. The Greens are 3.5/10 towards what is needed.
Ah well, currently those are the choices we have been given.
Bunji your first post is focusing on the wrong issue, your second on the right issue. Government spending adds directly to GDP by accounting so if the deficit was lower in any of the last seven years then GDP would also have been lower by the exact same amount. Yes if labour wants to grow GDP at a decent rate in future they will need to run a significant deficit for many years.
The reality is the neo liberal policies embraced by new Labour and National have led to this mess. They are both culpable for the misery people endure.
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My sister Belinda asked Dad yesterday what one word would describe Mum best. He said: vivacious.If you only knew her from the photos on the slideshow we've made for today,you might wonder about that, because the camera tended to lie with Mum.If ever she saw a camera pointed at her, she ...
There are two major public consultations closing in the next week, Auckland Council’s Long Term Plan (LTP), and the draft Government Policy Statement on Land Transport (GPS). Closing dates and times: LTP closes Thursday 28 February, at 11.59pm – a minute to midnight! GPS closes Tuesday 2 April, at 12pm noon – note that’s ...
From Kiwiblog’s David Farrar – Bryce Wilkinson writes: Senior Fellow Bryce Wilkinson’s analysis reveals that since March 2009, New Zealand has spent $158 billion more overseas than it has earned, but its NIIP has only fallen by $32 billion.Statistics New Zealand shows that receipts from overseas reinsurers have ...
Is she hinting that the Coalition Government will have to back down on key promises it made in Opposition? Brian Easton writes – The Minister of Finance, Nicola Willis, is telling an evolving story about her fiscal challenges. In Opposition she was confident that she could ...
Dear Nicola Willis,Right now you’ve probably got lots of competing demands coming at you. Ministers who’ve inherited quite a mess, or so you’ve told us, looking for money in the budget to improve things. I imagine that’s why they came to parliament - to make things better.You’ll have to make ...
The Local Government, Transport and Auckland Minister hasthreatened councils with intervention if they don’t merge water assets to take them off balance sheet, just as the now-repealed Three Waters plan directed. Photo: Lynn Grieveson / The KākāTL;DR: My six things of note this morning for Monday, March 25 include:Simeon ...
A listing of 36 news and opinion articles we found interesting and shared on social media during the past week: Sun, March 17, 2024 thru Sat, March 23, 2024. Story of the week Thanks to John Mason having the stamina to sit down to watch "Climate - the Movie" ...
This morning the Q&A programme had Simeon Brown on to talk about National’s replacement for Three Waters. In case anyone’s forgotten the three are - drinking water, waste water, and sewerage. It’s quite important not to get them mixed up. In much the same way that you wouldn’t want to ...
Today’s newsletter comes with a mini-podcast conversation between me and my buddy Liv Tennet, talking about her time as a child actor in Lord of the Rings. It’s a conversation with a lot of giggles as she talks about falling off a horse, and becoming a meme. Read ...
The Desmog Climate Disinformation Database documents, "individuals and organisations that have helped to delay and distract the public and our elected leaders from taking needed action to reduce greenhouse gas pollution and fight global warming." It's a who's who of the organised climate change denial movement, in other words. In ...
Bob Edlin writes – A High Court judge has decided miscreants who have mana – or who claim to have mana – should be treated differently from miscreants who have none. It’s a ruling that suggests indigenous law-breakers have a better chance of securing a discharge without conviction ...
Welcome to the first, and possibly last, edition of Brickbats, Bouquets and Bull’s Wool. In which I’ll take a look at the events of the last week or so, and rate them.In such ratings the numbers usually have more to do with the opinions of the reviewer, than the actual ...
Roger Partridge writes – My earlier column this month, New Zealand’s highest court could be facing a turning point, prompted a flood of feedback from business readers and lawyers alike. A common query was what Parliament can do to restrain an overreaching judiciary. This week I discuss two steps Parliament ...
TL;DR: In today’s ‘six-stack’ of substacks at 6.16pm on Friday, March 22: writes about New Zealand's Building Boom—And What the World Must Learn From It over at his substack. challenges the Auckland Council’s use of a 3.8 degrees of warming forecast to oppose a wave-park and data centre project ...
Is she hinting that the Coalition Government will have to back down on key promises it made in Opposition?The Minister of Finance, Nicola Willis, is telling an evolving story about her fiscal challenges. In Opposition she was confident that she could deliver her promised income tax cuts. Appointed minister, she ...
Buzz from the Beehive Ministers of the Crown have drawn attention to one sector of the science sector which is unlikely to be subjected to heavy spending cuts, a state-funded broadcaster which is doing nicely, thank you, and a sporting event that had $5.4 million from the public purse puffed ...
Abbott’s Freestyle Libre sensors allow continuous glucose monitoring (CGM). The sensor is applied to the back of the patient’s arm, with a thin filament under the skin measuring glucose levels constantly. But it costs around $100 per sensor and must be replaced once every 14 days. Photo by BSIP/Universal Images ...
The Inspector General of Intelligence and Security (IGIS) recently released a report in which he exposes the existence of a foreign intelligence partner-controlled technological “capability” inside the headquarters of the GCSB, NZ’s 5 Eyes-affiliated signals intelligence collection and analysis agency. … Continue reading → ...
Peter Dunne writes – Nearly three decades after the introduction of MMP and multiparty governments there should be a greater level of understanding about their finer points than often appears to be the case. The reaction to the despicable outburst from the Deputy Prime Minister at the weekend highlights ...
The sweet kisses from fruit of summerHave slowly been turning dullerYou say, "those times"And "remember the daysWhen we went outside and there still was the shade?"Taking no reason into play…Autumn. Clear, blue days shortening to longer nights, growing colder. Aotearoa.That’s us. The temperature dropping, the looming car crash - so ...
Bryce Edwards writes – “It is often said that behind every great man is a great woman”. This is the pitch by the National Party Botany electorate branch to attend their “Ladies Afternoon Tea with Amanda Luxon”. For $110 including GST, you can turn up on Saturday 20 April ...
David Farrar writes – The Electoral Commission has published the expense returns for political parties for the 2023 election. I’ve put them in a table with how many votes a party got so we can see the spend per vote. National only spent $3.34 for every vote they got, almost ...
Winston Peters’ headline-making actions over the past week may have been a show of political power intended to strengthen his hand in Budget negotiations. It was no accident that his State of the Nation speech was as it was. He made it as New Zealand First Leader, not as Deputy ...
Photo: Lynn Grieveson / The KākāTL;DR: The five things that mattered in Aotearoa’s political economy that we wrote and spoke about via The Kākā and elsewhere for paying subscribers in the last week included:Former Labour Finance Minister Grant Robertson bowed out of politics this week, giving a series of exit ...
Graham Adams writes — If you love the law or sausages, as the saying goes, best not to look too closely at how they are made. And after watching the orgy of self-pity when Newshub’s closure was announced on February 28, television journalism should definitely be added to the list of those ...
Venerable New Zealand political commentator, Chris Trotter (https://bowalleyroad.blogspot.com/), is a sad creature these days. Once one of the most reliable Leftist writers out there – Economic Left at that – Trotter seems to have absorbed the worldview of Auckland culture-war obsessives. It is not for me to categorise what he ...
The cruelty of short-term memory loss is that each time you ask where she is, you get the fresh shock and grief of the news. That was Dad's day yesterday.Comfortingly, it seems to be less so today. Last night he looked crumpled, today he seems more settled. There's a card ...
Photo by Alvan Nee on UnsplashIt’s that new day of the week (Thursday rather than Friday) when and I co-host our ‘hoon’ webinar with paying subscribers to The Kākā for an hour at 5 pm. Jump on this link on YouTube Livestream for our chat about the week’s news ...
Buzz from the Beehive One minister is talking tough while a colleague – whose ministry had acted tough and drawn a barrage of flak – has shown an official softening. Some ministers are doing what Labour was good at, which is distributing public funds to causes regarded as worthy or ...
A ballot for 4 Member's Bills was held today, and the following bills were drawn: Insurance Contracts Bill (Duncan Webb) Income Tax (Clean Transport FBT Exclusion) Amendment Bill (Julie Anne Genter) Crimes (Increased Penalties for Slavery Offences) Amendment Bill (Greg Fleming) Pae Ora (Healthy Futures) ...
The Coalition Government’s plan to ‘get Auckland moving’ is a cuts cover-up that will ultimately cost Aucklanders more to move around the city, says Labour Auckland Issues spokesperson Shanan Halbert. ...
Slashing the Ministry of Pacific Peoples by 40% will have a devastating impact on pacific communities and further highlights how little this government cares about anything other than cutting taxes for the wealthiest few. ...
Labour has proposed an urgent inquiry to investigate the ever-increasing profits of supermarkets, aiming to lower costs for shoppers and food producers alike, says Labour Spokesperson for Commerce and Consumer Affairs Arena Williams and Primary Production Spokesperson Cushla Tangaere-Manuel. ...
With 14% of jobs on the line at the Ministry for Ethnic Communities, the responsible Minister Melissa Lee is failing to stand up for the very communities she’s meant to be representing. ...
COURT OF APPEAL: TRIFECTA OF VICTORY FOR NZ FIRST, TRIFECTA OF FAILURE FOR OPPONENTS For the third time since April 2020, New Zealand First has defeated the Serious Fraud Office and all those complicit in a malicious attack against a political party going about its lawful business in a lawful ...
The Green Party stands with people who live in public housing, people in dire housing need, experts and advocates in demanding better than the Government’s archaic approach to housing those who need our support the most. ...
New Zealand has recently lost the hosting rights of some major international sporting events including the America’s Cup, the Rugby Championship, Netball World Cup, and the Wellington Sevens. We are now at a huge risk of losing SailGP as well. And it won’t stop there. The recent issues with SailGP ...
A Member’s Bill drawn this week would modernise insurance law and make things fairer and more transparent for consumers, Christchurch Central MP Duncan Webb said. ...
The Minister for Disability Issues has confirmed she was aware of funding issues in mid-December and did nothing to stop it. On 14 March, she signed off on changes that were announced and implemented on 18 March without any consultation with disability communities. ...
Green Party MP Julie Anne Genter says her members' bill is an opportunity for the coalition government to plug the gap in electric vehicle incentives. ...
The National Government continues to talk about irresponsible tax cuts that will only drive up inflation, despite the country entering a technical recession. ...
The Minister for Disability Issues must act urgently to reinstate flexibility around the funding for disability support and apologise to disabled carers. ...
This story has been initiated by a leftie shill reporter who proactively sought to call a member of a former band, which disbanded twelve years ago, give their biased appraisal of what was said in my speech, and concocted a ham-fisted attempt at a story that does nothing but show ...
The Government has accepted Labour’s change to the Road User Charge (RUC) discount for hybrid vehicles, meaning there will still be some incentive for people to buy greener vehicles. ...
Many in the mainstream media have taken what was said in New Zealand First’s State of the Nation Speech in Palmerston North on Sunday and deliberately, deceitfully, and ignorantly misrepresented what I said and why I said it. The headlines and commentary on the news stated that I compared ‘co-governance ...
Kicking the most vulnerable people out of state housing and pushing them towards homelessness will result in a proliferation of poverty and trauma across our most vulnerable communities. ...
Te Pāti Māori co-leader and MP for Waiariki, Rawiri Waititi has penned a letter asking MPs to support his members bill to remove GST from all food. The bill is expected to go through its first reading in parliament this Wednesday. “I’m calling on all political parties to support my ...
Good afternoon. Thank you for, in your very busy lives, turning up to this meeting today. On October 14th last year New Zealanders overwhelmingly voted for change. That is exactly what this new government is bringing. New Zealand First campaigned to ‘take back our country’ and stop the disastrous economic ...
This year is about getting real with Kiwis and discussing the tough issues, as the National Government exacerbates inequality and divides New Zealand, Labour Leader Chris Hipkins said ...
The Government adding Significant Natural Areas (SNAs) to its already roaring environmental policy bonfire is an assault on the future of wildlife that makes Aotearoa unique. ...
After 12 years of fighting to protect our moana we are finding ourselves back at square one and back at court. Today, the Environmental Protection Agency is sitting in Hawera to reconsider an application from Trans-Tasman Resources to dig up 50 million tonnes of the seabed in South Taranaki. This ...
Minister Shane Jones’ decision to step away from a seabed mining project is evidence of the murky waters surrounding the Government’s fast-track legislation. ...
The growth of Treaty of Waitangi clauses in legislation caused so much worry that a special oversight group was set up by the last government in a bid to get greater coherence in the publicservice on Treaty matters. When ministers first considered the need for tighter oversight in 2021, there ...
The growth of Treaty of Waitangi clauses in legislation caused so much worry that a special oversight group was set up by the last government in a bid to get greater coherence in the publicservice on Treaty matters. When ministers first considered the need for tighter oversight in 2021, there ...
The Coalition Government’s miscalculation saga continues as it has forgotten an eyewatering $90 million gap in its interest deductibility cost figures, say Labour Finance spokesperson Barbara Edmonds and Revenue Spokesperson Deborah Russell. ...
He Pou a Rangi Climate Change Commission has today released advice that says if the Government doesn’t act now New Zealand is at risk of not meeting its climate goals. ...
The Coalition Government has today confirmed it is abandoning first home buyers who are struggling to get ahead, says Labour Finance spokesperson Barbara Edmonds. ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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. ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
Jesus had dinner with his 12 disciples right before he died. Noted historian Madeleine Chapman finds out who really deserved to be there.First published in 2018 but let’s be honest, the subject is timeless. As you sit on your couch this Easter Sunday, eating a chocolate egg you know ...
The newly-promoted Northern League club is on a mission to return to the National League for the first time in two decades. Plenty about domestic football in New Zealand has changed in that time – but the sense that this amateur competition is not an entirely level playing field remains. ...
Auckland Council has put a deadline on new weather-impacted property owners applying for categorisation as government funding looks set to run out. Councillors have voted to support a deadline of September 30 for property owners who haven’t accessed support to come forward and engage with the council’s recovery office. It ...
NONFICTION 1 BBQ Economics by Liam Dann (Penguin Random House, $40) “It’s official,” wrote Dann nine days ago in the Herald, where he works as business editor at large, “we’re in recession.” Yeah, great. He delivered the bad stats: “GDP fell 0.1 percent in the December 2023 quarter, compared with ...
Comment: Every year on February 2, a dozen men in tuxedos and top hats approach the burrow of a groundhog in Gobbler’s Knob, Pennsylvania and entice the beaver-like rodent to emerge and predict the weather. If the groundhog, named Punxsutawney Phil, sees its own shadow when it is summoned, legend ...
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By Anneke Smith, RNZ News political reporter A petition urging the New Zealand government to provide urgent humanitarian assistance to the Palestinian people has been tabled in the House. More than 200 people gathered on Parliament’s forecourt today and they were met by MPs from Labour, the Greens and Te ...
Pacific Media Watch The Paris-based global media freedom watchdog RSF (Reporters Without Borders) has appealed for information about the “disappearance” of Palestinian journalist Bayan Abusultan. She was reportedly last seen on March 19 among people “sequestered” in this week’s raid and siege of Al Shifa hospital by Israeli troops in ...
EDITORIAL:The Jakarta Post It happens again and again; indigenous Papuans fall victim to Indonesian soldiers. This time, we have photographic evidence for the brutality, with videos on social media showing a Papuan man being tortured by a group of plainclothes men alleged to be the Indonesian Military (TNI) members. ...
Source: The Conversation (Au and NZ) – By Robyn J. Whitaker, Director of the Wesley Centre for Theology, Ethics, and Public Policy & Associate Professor, New Testament, Pilgrim Theological College, University of Divinity A strange and eclectic range of activities takes place across these few weeks of the year. Some ...
Source: The Conversation (Au and NZ) – By Panizza Allmark, Professor Visual & Cultural Studies, Edith Cowan University It’s Easter weekend, which means many of us will be kicking back with the greatest hits on repeat. But whether you’re a boomer, or an ‘80s or ’90s kid, you might be ...
RNZ Pacific Fiji’s Acting Public Prosecutor has filed an appeal against the sentences of former prime minister Voreqe Bainimarama and suspended police chief Sitiveni Qiliho in their corruption case. Bainimarama was granted an absolute discharge for attempting to pervert the course of justice while Qiliho received a conditional discharge with ...
Source: The Conversation (Au and NZ) – By Arosha Weerakoon, Senior Lecturer and General Dentist, School of Dentistry, The University of Queensland Casezy idea/Shutterstock How does toothpaste work? What did people use before toothpaste was invented? – Amelia, age 7, Meanjin (Brisbane) Thanks for your ...
Source: The Conversation (Au and NZ) – By Brett Hallam, Associate professor, UNSW Sydney IM Imagery/Shutterstock Solar SunShot is well named. The Australian government announced today it would plough A$1 billion into bringing back solar manufacturing to Australia, boosting energy security, swapping coal and gas jobs for those ...
Source: The Conversation (Au and NZ) – By Clare Dix, Research Fellow in Nutrition & Dietetics, The University of Queensland Easter is the time for chocolate. The shops are full of fantastically packaged and shiny chocolates in all shapes and sizes, making trips to the supermarket with children more challenging ...
Source: The Conversation (Au and NZ) – By Emma Felton, Adjunct Senior Researcher, University of South Australia Even in a stubborn cost-of-living crisis, it seems there’s one luxury most Australians won’t sacrifice – their daily cup of coffee. Coffee sales have largely remained stable, even as financial pressures have ...
Mining company Trans-Tasman Resources has unexpectedly withdrawn its application for a consent to suck the valuable metals vanadium and titanium from the Taranaki seafloor, as it apparently wagers on the Government’s new fast-track process. It had spent two-and-a-half days putting its case to the Environmental Protection Agency’s decision-making committee, at ...
Contrary to the Associate Minister of Education’s claims, analysis of Healthy School Lunches Programme - Ka Ora, Ka Ako assessments has revealed it provides excellent value for the taxpayer dollar, as a groundswell of public opposition to Government ...
Greenpeace says wannabe Taranaki seabed miner Trans-Tasman Resources is likely banking on Christopher Luxon’s fast-track process to side-step proper scrutiny of its Taranaki seabed mining proposal by bailing out of the Environmental Protection Agency hearing ...
Kiwis Against Seabed mining today slammed Australian owned would-be seabed miner Trans Tasman Resources (TTR) for abandoning its application to the Environmental Protection Authority (EPA) to mine the seabed of the South Taranaki Bight. The company ...
Source: The Conversation (Au and NZ) – By Katie Attwell, Associate Professor, School of Social Sciences, The University of Western Australia Ground Picture/Shutterstock Months after COVID vaccines were introduced in 2021, governments and private organisations mandated them for various groups. Health and aged care workers were among the ...
Source: The Conversation (Au and NZ) – By Andrew Dzurak, Scientia Professor Andrew Dzurak, CEO and Founder of Diraq, UNSW Sydney Diraq For decades, the pursuit of quantum computing has struggled with the need for extremely low temperatures, mere fractions of a degree above absolute zero (0 Kelvin or ...
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 A national Essential poll, conducted March 20–24 from a sample of 1,150, gave the Coalition a 50–44 lead including undecided, a reversal ...
The Taxpayers’ Union has today made a formal request under the Regulations of the People’s Republic of China on Open Government Information () for information held about how New Zealand Members of Parliament are spending taxpayer ...
Source: The Conversation (Au and NZ) – By Robert Nelson, Honorary Principal Fellow, The University of Melbourne A Byzantine depiction of the Eucharist in Saint Sophia Cathedral, Kyiv.Jacek555/Wikimedia Commons, CC BY-SA A nasty quarrel arose in the 11th century over what kind of bread should be used in holy ...
Source: The Conversation (Au and NZ) – By Patrick Hesp, Professor, Flinders University Patrick Hesp In some parts of Australia, coastal dunes are retreating from the ocean at an alarming rate, as waves carve up the beach and wind blows the sand inland. But coastal communities are largely ...
Source: The Conversation (Au and NZ) – By Luke Heemsbergen, Senior Lecturer, Digital, Political, Media, Deakin University With an impressive 60% of the US smartphone market, Apple is undeniably big, but not a clear monopoly. Yet, years of innovation by Apple have effectively given the company its own exclusive ...
Whether you’re facing layoffs or are just an emotional junior staffer, it’s always a good idea to scout out a good crying place before you need it. It’s an incredibly hard time for Wellington. Across the city, thousands of public servants are hearing tough news about redundancies and layoffs. Government ...
Source: The Conversation (Au and NZ) – By James Miller-Jones, Professor, Curtin University Nuclear explosions on a neutron star feed its jets. Danielle Futselaar and Nathalie Degenaar, Anton Pannekoek Institute, University of Amsterdam, CC BY-SA How fast can a neutron star drive powerful jets into space? The answer, it ...
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Booming world economy v GFC & Christchurch Earthquake….
Just to clarify, I think the Nats are a terrible government.
I just think these comparisons are fucking stupid.
An alternative (devils advocate) analysis as evidenced by electoral results is the country supports Labour when we have money to spend, and National when times are tough and we need more prudent managers of the economy.
True enough. The UK would have a similar comparison if you compared the Blair/Brown Labour Government to the last five years under the stewardship of the Conservatives. The point being the general populous (or at lease the significant part that decides elections) has the view that Labour left the finances of the State in a mess and that is why the right leaning parties come in to fix it up.
Not the case in NZ.
When National took over we had had a series of black budgets under Labour.
How much of the financial crisis has been compounded by the ‘austerity’ measures.
If governments stop spending the economy grinds down.
Yet we don’t have “prudent managers”. Instead we have Nationals pork barrel politics. An ardent desire to turn this country into a banana republic. A satellite state to be sucked dry by the increasingly desperate USA.
don’t forget the earthquake saw an injection of $2-5bn into our economy from an outside source (re-insurers) which helped with stimulus in Christchurch which wouldn’t have been there without an earthquake.
Of more interest to me is the lampooning of the allegedly economically illiterate Green contenders for male co-leader for not knowing the current rate of inflation but no such lampooning for master of economic management, Bill English for
“Finance Minister Bill English says he does not know what effect the new rules on taxing capital gain on residential properties and new disclosure rules from non-resident buyers will have on the rising Auckland property market. ”
Either he is worse than the Greens (upon whom expectations of economic literacy are lower than English) or it was so ruched it has no background upon which to predict impact.
You seem to be forgetting the global recession that was in the middle of the last 7 years.
In NZ, Labour governments have always achieved greater per capita GDP than their National contemporaries.
You always have an excuse. It’s lame. Where’s the personal responsibility?
So you’re saying US$42,000 GDP per capita (NZ in 2013) is LESS than US$31,000 GDP per capita (in 2007).
Cherry picking years and currencies? Are your physical characteristics as reminiscent of dogshit as your arguments?
Christchurch earthquake equals 40 billion dollars of extra work paid for by insurance companies equals extraordinary item gift for G D P figures.
Nationals performance would be even worse without the Christchurch disaster!
GDP is an utterly hopeless measure of how any government is leading an economy. And are we really back to banging the drum of moar economic growth = better? What about sustainability using a steady state economy?
To be fair I think GDP is fairly rubbish too, but these things are what the Nats say are important, so if they can’t get those right…
As Robert Kennedy put it – GDP measures all but that which we hold most dear. But other measures of economic “success” are a whole lot more difficult. If you try and factor environmental and social factors in there as well it gets worse.
But that doesn’t mean we shouldn’t try.
At the very least they should measure GDP per capita growth – simple and means you can’t fudge the figures by just adding people.
But really you want to measure the change in total capital – environmental, social as well as economic. So if you dig up all the oil & coal and sell it off, and leave the environment a mess you take into account that the country doesn’t have the oil/coal to sell again and also that the lower living standards people have from the degraded environment ie you take into account the losses, not just the profits from selling natural resources.
But yeah, the banners are merely measuring National by their own standards – and with their own simplicity.
‘their own simplicity’….heh
Exactly Bunji. They fail according to their own criteria.
I can see the point of hoisting the NATs up on their own petard, but really all Labour is doing is reaffirming to the electorate that Labour buys into the same orthodox economic ethos – more growth is good, more GDP is good, running surpluses are good.
I think that for most people the banner make sense.
X amount under red
x amount under blue
done.
This is how people vote. Remeber? National the fiscally responsible party that will make all our lives betterer than it was under the nanny state when Labour was at the helm?
That is what people voted for.
This deserves an award for brainless idiocy.
Because only a brainless idiot would would make a comparison of the years before and after the global financial crisis, and pretend it didn’t happen.,
Well National pretend the GFC did not happen all the time, every time they say Labour left the country with a decade of deficits. Do you criticise them too?
Well they do it too.
Great comeback MS
And just to be clear the decade of deficits was projected pre GFC
Um are you sure about this? Link please. My recollection is that the “decade of deficits” was announced in 2008 after the start of the GFC.
Not pre “start” of GFC, pre “full effects” of GFC.
I could have been clearer.
My point is the PREFU did not lay the blame for the decade of deficits on the GFC so why would you expect the Nats to when there is an easier target.
(Jeepers, I can’t believe I am in here defending Bill English)
then don’t.
I am not blaming National for a decade of deficits due to the GFC.
I am blaming National and Bill English for pretending that they could and would achieve a surplus, that things will get betterer to win an election instead of being honest and saying it’s not gonna happen because of a. b. c.
I am blaming National for spending money on a flag change when we are out of money.
I am blaming National for spending money on troops against Isis.
I am blaming National for spending money on vanity projects while ignoring the needs of the country.
They ran on their fiscal responsibilty and their financial savy and promised a surplus, better raises etc etc. Now they get to eat crow, and frankly they should.
the have heeped scorn and abuse on so many of our most vulnerable members of society, i think it is just fair that some of us actually hold them accountable.
“”I am blaming National and Bill English for pretending that they could and would achieve a surplus, that things will get betterer to win an election instead of being honest and saying it’s not gonna happen because of a. b. c.””
I don’t think national have ever really cared if they hit surplus , but its been a terrific excuse to slash services and screw down on the poor.
Sabine. High five! I first went right off key (although even then thought he was a incompetent tosser) when they spent so much money on the gg residence. I have heard 40ml but stand to be corrected as this amount seems to be exorbitant. Wonder who got the contract?
Since then the list goes on. Money for 1% nothing for us losers.
“the PREFU did not lay the blame for the decade of deficits on the GFC”
Are you sure?
In the PREFU section on ‘Weaker Growth as Global Economy Adjusts to imbalances’ there is this comment:
“Since our forecasts were finalised at the end of August, there have been further developments in the global financial crisis, particularly in the US. These developments increase the downside risks to these forecasts.”
And in this section it is stated that:
“Growth is forecast to be positive in the final quarter of 2008 thanks to the recovery from the drought and tax cuts, but will remain subdued throughout most of 2009 as negative influences continue to affect the economy. As the world economy recovers, the domestic economy picks up and inflation and monetary conditions ease, growth will return above trend later in the forecast period, driven initially by increased exports (Figure 1.1). With economic activity forecast to be lower than in the Budget Update, core Crown tax revenue is expected to be $3,148 million lower in aggregate over the next four years.”
In reading the Executive Summary and other parts of the PREFU it seems to me that global economic conditions (referred to as the ‘global financial crisis’) are repeatedly mentioned as an important contributing factor in their forecasts.
I agree that domestic “imbalances” are also mentioned as ‘unwinding’ – but the GFC is a big part of predicted reductions in growth and therefore tax revenues and increases in spending (on benefits, Kiwisaver, etc.).
The structural decade of deficits lie is one of Gosman’s most pathetic fictions.
V: I’ve not come for what you hoped to do. I’ve come for what you did.
Labour did not deliver deficits. Bill English did.
You mean like Labour criticising National for the deposit guarantee scheme that Labour set up?
I bought a whole lot of shares in 2007. They plummeted disastrously under Labour, and have gone up significantly and continuously ever since National came to power.
But I’d have to be an idiotic simpleton on par with bunji to think that was solely down to who was in power.
So are you saying that bunji and the entire front bench of the National Party should be criticised for drawing ridiculous conclusions on who should be to blame for certain events?
I haven’t heard the whole front bench of National blaming Labour for the global financial crisis.
There were plenty of Labour candidates last election blaming National for running deficits while they ran surpluses – effectively ignoring that the GFC ever happened. But obviously the voting public saw the ridiculous comparisons for what they were.
If you want votes, first you have to be seen as living in the real world – not a delusional one.
Labour always get greater per capita GDP than the bought party. The bought party always has a bunch of Quislings like you lining up to shift the blame, and then you pretend to be into personal responsibility.
If you ask me, you’re lying trash.
Que? National trots the “its all Labour’s fault every chance it gets”.
Labour does not blame National for the GFC. It criticises National for making unattainable promises to get the books black into credit, for giving tax cuts to the wealthy the country cannot afford, for selling off our profitable assets and for having no growth strategy apart from more dairy. National can be blamed for continuously running deficits for the fact that it gave unaffordable tax cuts.
It’s funny when people backing Labour, (who want to run BIGGER deficits for LONGER), criticise National for running deficits.
It comes across as absurd.
It’s even funnier when lackwit tr*lls (just like you) pretend that their delusions have some connection to what the Left would have done.
What’s the matter Johnny? Couldn’t you manage a reality-based argument? Your personal responsibility is a bunch of impotent lies, eh.
That’s about as idiotic as your claim GDP per capita was higher under Labour – see
http://www.google.com/publicdata/explore?ds=d5bncppjof8f9_&met_y=ny_gdp_pcap_cd&idim=country:NZL:AUS:CAN&hl=en&dl=en
Imagine I am speaking to you in a patient tone, as though you are a child.
Your graph, poppet, demonstrates that, in $US, the rate of per-capita GDP increase has slowed under National.
Obviously another person ignorant that there’s been a global financial crisis.
And now backtracking on the patently false claim that GDP per capita was higher under Labour.
Keep peddling – you’re going backwards fast
Average 3.7% GDP growth over nine years of Lab5, against National’s record. This is in line with New Zealand history. Hardly surprising when you consider that unemployment is always higher under National.
As I said – now you’re backtracking.
Previously you claimed GDP per capita was bigger under Labour.
Now it’s growth rates.
And you still show extreme ignorance by failing to acknowledge there’s been a global financial crisis.
Still you don’t seem to grasp the facts: under all economic conditions experienced thus far, annual per capita gdp growth is lower when the Masters of Finance occupy the Treasury benches.
This time, your excuse is the GFC, and, poppet, the GFC didn’t force the Masters of Finance to slash government revenue.
Why is it that when it comes to analysing Labour’s economic performance there was no GFC but when it comes to National’s economic performance there is nothing but GFC.
Really?????
The Labour years were BEFORE the GFC so it’s pretty obvious why it’s not linked to Labours performance.
[I get tired with RWNJs saying that the decade of deficits was because of Labour decisions and not because of the GFC. For your information the GFC started in 2007 and in 2008 Clark and co were in full adaption mode. Post another idiot comment where you deny this without pristine proof and I will start to treat you as a troll – MS]
MS says “I get tired with RWNJs saying that the decade of deficits was because of Labour decisions and not because of the GFC.”
Time to get reading lessons, or some new glasses –
I said “The deficits are because of the GFC, and would have been there regardless of whether Labour or National was in power.”
And you really think the GFC had and impact on the growth and debt stats under Labour before it even happened (which is 90% of the period under discussion).
The deficit aren’t “because” of the GFC, John, the deficits are there because NZ’s economy is fragile, unbalanced, and undiversified. The deficits also continue because National is both visionless and gutless, combined with typical right wing short term opportunism.
But since you don’t understand anything about real economics, it never occurred to you that this was the case.
Because of the GFC –
– other countries buy fewer of our products, so there’s less tax on company profits
– fewer workers are required to make those products, so there’s less paye
– the (now unemployed) workers have less to spend, so there’s less gst
– less tourists come from countries suffering from the GFC, so they spend less, and the whole cycle continues in the tourism sector with less gst, less company profits, fewer workers, less paye.
– and significantly more spent on benefits
And you don’t think the deficit is caused by the GFC. Yeah right.
you’re not paying attention, John. The GFC is but one external environmental factor. Its the internal factors that successive governments have fucked up, creating a narrow economy which lacks depth and diversity. Open your eyes.
You’re missing the point.
When ALL your overseas clients are suffering from the GFC and EVERY company in EVERY country slashes their spending budgets, it doesn’t matter what you produce .
as usual, wrong again. If National truly believe that, they should stop wasting our oxygen, fuck off, and let people who can make a real difference for ordinary NZers take charge.
The whole idea of government running a surplus is absurd. I would far prefer that households and SMEs run the surplus instead of the Crown – i.e. that ordinary people get to have a decent income, get to save more, get to run their businesses at a profit.
No mate – it goes to competence. Bill English promised surpluses – cannot deliver them – not just once or twice but seven times in a row. The non-delivery of surpluses by Bill has become a statistical certainty.
It’s funny when people backing Labour, (who want to run BIGGER deficits for LONGER), criticise National for running deficits.
Idiot. What evidence do you have that Labour wants to run deficits? FFS last time we failed miserably according to your idiot analysis.
Ideally the state pays its way and puts some money aside for a rainy day. Labour achieved this. Shame the nats can’t.
Labour wants to run deficits it just doest know it yet. I have been explaining this to you for weeks now and you said the issue was lying, not that deficits were a problem (which they are not). Are you revising that position?
Modern Labour tends to want to run the economy on Kensian lines. When things are good stash money away. When things are bad open up the purse strings.
The last Labour Government was happy to start spending. There was a plan to have a mini budget at the end of 2008 if they were reelected. I am not disagreeing with you.
I am disagreeing with John’s claim that the decade of deficits was because of the fifth Labour Government. And it irks that he suggests that National should be cut some slack because of the GFC but not Labour.
mickeysavage says “I am disagreeing with John’s claim that the decade of deficits was because of the fifth Labour Government. ”
I think you’re arguing against something that I never said.
The deficits are because of the GFC, and would have been there regardless of whether Labour or National was in power.
In the 2000s, New Zealand was spending 115% of what it earned, every year, year after year.
That is a totally unsustainable position and where Labour stuffed up was they didn’t do a thing about it.
Under Labour private debt skyrocketed 166% from $60b to $160b, and they didn’t do a thing to stop massive house price inflation, not just in Auckland as is the case now, but across the other 70% of houses as well.
What did Labour do to stop it? Nothing.
At least this govt has tightened up on claiming depreciation, speculators, LAQCs, low deposit loans, bigger bank reserves etc.
John
“The Labour years were BEFORE the GFC so it’s pretty obvious why it’s not linked to Labours performance.”
Disagreed. The GFC started during Labour’s term. The GFC had everything to do with the downturn and the “decade of deficits”.
“The deficits are because of the GFC, and would have been there regardless of whether Labour or National was in power.”
Disagreed. National’s “fiscally neutral” tax cuts basically sucked a billion dollars out of the state’s books each year. There would have been deficits for a while but they have been much worse because of National’s tax cuts.
Crown control over private debt? FFS when we suggested people should use eco friendly light bulbs there was hell to pay. Blaming us for not strong arming people into borrowing less is a bit rich.
John’s comment was dead on to begin with. There would have been similar sized deficits regardless if labour was elected. Labour needs to explain why the deficits are necessary and stop playing a game of irrelevant political football with the constant carping on about what they could get away with before the GFC.
Mickey – Labour didn’t so much as lift a finger while they watched a housing bubble caused by skyrocketing debt, and a country spending 115% of what it earned every year.
The current govt has put in place numerous measures to curtail private debt and housing bubbles.
And Labour complains it’s not enough.
Which makes your weak excuses for not doing anything look hollow and hypocritical.
theres no need for the government to “stash money away for a rainy day.”
Why would there ever be a need for the government to stash away electronic ones and zeroes that it can enter by keyboard any time that it wants to? How on earth do you “stash” digital digits, anyway?
Meanwhile back in the real world, a $1b tax cut for six years doesn’t add up to a $66b debt.
The “real world”? Don’t make me laugh John. I agree that the NATs needed to deficit spend, but their lack of a credible long term vision for NZ has been shocking. Under their leadership NZ does all it can to stumble from year to year with no cohesive long term economic planning.
I am not defending the current government’s record by any means! What I am criticising is this clap trap language that infers deficits are inherently bad and that running surpluses are inherently good. This is implied in the language Labour has used and indeed campaigned on and in this original post.The fact that Labour ran a series of surpluses is not in itself good or bad. Classical and neo-Keynsian economic theory argues that governments should build surpluses when the economy thrives and run deficits when the economy is struggling.
IF the current regime claim there has been no serious economic crisis post GFC it should be moving towards and running surpluses. We know this isn’t true so we should expect them to run deficits and indeed we should encourage it. We might want to argue over what it is being spent on, of course, but my basic point remains.
Conversely, IF the previous Labour regime were running surpluses during economic upswings, this should be expected and encouraged. However, IF they were running surpluses during economic recession, they should be admonished.
The point is, simply comparing Labour’s surplus record juxtaposed to the Nat’s deficit record, devoid of economic context, is disingenuous at worst, and plain ignorant at best
In fact Labour weren’t too hot economically either – little realised growth in terms of capacity or productivity, few to no new jobs, little effort to address problems like housing or the balance of payments, much less winding back the employment ‘reforms’ of the black decade.
But they were basically competent, unlike the screaming heap that National is. Solid Energy is a fair analogy for National’s management of the economy – they wrecked it without even making a profit.
“Few to no new jobs”
They had the lowest unemployment rate in the western world.
And still do have one of the lowest.
We still have one of the lowest unemployment rates in the western world because National have held off on implementing austerity and govt debt reduction measures.
Massaged numbers – tightening Winz policies and lies about ‘the lowest ever unemployment rate’ that anyone alive in the 1980s knows were patently false.
ummm i think you all need to read the correct data. i am very very very happy in nz.
i earn 70k a year – debt free and own a house in central auckland. 2 kids 50 years old and not one hand out or any inheritance.
tell me what is wrong?
Clue: what’s wrong is not that people are doing well.
What’s wrong is that many people are struggling, hungry, homeless.
How much was your student loan, and how much were your training/course fees?
How much were the “voluntary” fees your parents shelled out to your school?
What about your parents – did they get any assistance, or a state house?
Or are you one of the infintesimally small few people who earn well over the average wage while having zero qualifications?
And how are your kids going to buy a house?
Gosh. And you’re so typical, too 😉
I’m wondering if the reason why 3 million Kiwis don’t earn $70k, live in central Ak etc. is that we live a world that requires mass poverty and unemployment in order for the economy to function so that people like you can be the exception to the rule.
Yep, it’s rare for the people who benefit from the poverty that they create to see the cause.
What’s wrong is that you believe a lie. You and you’re parents got lots of help from the government. You just don’t want to see it.
You are a kick-the-ladder-out kind of person. There are too many of you and that’s what’s wrong.
moved to auckland 12 years ago. One of 7 kids from a labour voting family. All info is correct. Just saved
So given that fossil fuel use tracks economic activity, at 1.3% growth, National were about 2/3rds less bad for our future than Labour.
THIS
When did Colonial Viper become a raving right winger?
I must have missed this because I thought he was socially responsible, like the rest of us.
are you accusing Bill as well? After all it was his idea i was backing 😈
You forgot the sheep and extra cows Bill 🙂
I was suspicious of the high level of emissions attributed to NZ livestock lately.
I’ve just come across figures for 2003 – 2013 contending that, globally, fossil fuels and cement accounted for,on average, about 8.6 Gt or 92% of anthropogenic carbon emissions per year and land use accounted for about 0.8Gt or 8% per year.
http://tyndall.ac.uk/sites/default/files/gca_tyndall_cicerosideevent_5combined.pdf
Historically – ie, the cumulative totals for CO2 see land use account for about 20 – 25% of the existing total.
And this link, also pasted on ‘Daily Review’ is a must. http://www.globalcarbonatlas.org/?q=en/content/welcome-carbon-atlas
Disagree with this line of thinking. There is no reason fossil fuel use must track GDP growth. The government should invest in employing people to create a sustainable economy. If it does this on a large enough scale then it’s quite possible for GDP to grow and the economy to become sustainable (with lower energy use) at the same time.
On the other hand if the government wants to cause a recession or depression then it’s going to be unpopular and they will quickly be out of office. That will be curtains for plans to move onto a sustainable path no doubt.
The economy is not going to by itself onto a sustainable path. The government must intervene and buy up outputs towards it.
Well, there’s no reason why it must, but it does.
As for growing an economy while aiming for sustainability…from these six eggs I have, I want to make an omelet while wanting for six chicks to hatch.
Meanwhile,most of the western world is being plunged into recession and depression, in part, due to policies pursuing austerity. Those governments haven’t been kicked out and ,in fact, have been re-elected.
Sorry, that kind of thinking doesn’t cut it. Explain why if you have some sustainability policy (say reforestation) the government can’t pay for it to happen.
The government can pay for such things. That’s not a biggie.
But if you want a growing economy, then that means more production and consumption. And that’s profit driven, not ‘lets be nice to the environment’ driven. If you find that objectionable (as I do) then you’ll have no option but to adopt a market abolitionist position.
Then, with the profit motive gone, we can look at steady state or ‘environmentally mindful’ economic models.
Closer but you are not there yet. GDP has three main components, consumption, investment and government spending. So growing GDP does not mandate growing consumption. Also not all consumption is a measure of physical consumption it also counts service spending and all kinds of sustainable consumption. There is no solid link between growth of GDP and growth of the physical demands of that economy. In considering how to deal with this issue there also needs to be a distinction between markets with and without government intervention including regulation for socially desirable outcomes.
Closer but you are not there yet. GDP has three main components, consumption, investment and government spending. So growing GDP does not mandate growing consumption. Also not all consumption is a measure of physical consumption it also counts service spending and all kinds of sustainable consumption. There is no solid link between growth of GDP and growth of the physical demands of that economy. In considering how to deal with this issue there also needs to be a distinction between markets with and without government intervention including regulation for socially desirable outcomes.
“There is no solid link between growth of GDP and growth of the physical demands of that economy.”
other than energy use tracking closely with GDP you mean? And in the rest of the world that typically means coal and oil being burnt.
No, including energy use tracking with GDP. If you think of an alternative real economy (a sustainable one) then the payments for that can obviously be arranged in essentially any manner. Arguing that it has to be that way then is also claiming there is no real alternative economy possible. The fact Fossil fuel use tracks GDP is just a coincidence due to the world running a non-sustainable economy but that can change.
It’s also not true for many countries but industrial production being sent offshore is a large component of that, so it’s not a clear cut example.
“The fact Fossil fuel use tracks GDP is just a coincidence due to the world running a non-sustainable economy but that can change.”
???
I’m referring to the current physical world economy and the energy inputs its activity is entirely predicated on, not a future science fiction one.
Claims about science fictions and utopia as side, I was discussing with Bill how to grow GDP while shrinking the ecological footprint of the economy. When he says that we must first abolish markets and first instate some other (yet to be defined) system he is the person advocating for inaction.
Paid work (and profits) is a powerful incentive and should be used to take action on climate change now.
At the end of the day the only answer I can see is for a fifteen to twenty year war-time like effort to move NZ 90% off fossil fuels and also towards autarky in strategic areas. We will burn a lot of fossil fuels and consume a lot of resources in the process to do so – but at least they will be available at this time.
After this next fifteen year window passes, it’ll be too late to do anything more than localised/regional makeshift initiatives to try and make life survivable and decent.
National is 1/10 towards what is needed. Labour is 3/10 towards what is needed. The Greens are 3.5/10 towards what is needed.
Ah well, currently those are the choices we have been given.
Bunji your first post is focusing on the wrong issue, your second on the right issue. Government spending adds directly to GDP by accounting so if the deficit was lower in any of the last seven years then GDP would also have been lower by the exact same amount. Yes if labour wants to grow GDP at a decent rate in future they will need to run a significant deficit for many years.
exactly, thank grod someone else gets it too
Great work today OAB. Another one to line up.
The reality is the neo liberal policies embraced by new Labour and National have led to this mess. They are both culpable for the misery people endure.