National’s credibility is on the line
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9:30 am, September 2nd, 2023 - 40 comments
Categories: benefits, capital gains, capitalism, Christopher Luxon, david parker, election 2023, national, nicola willis, same old national, tax -
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When the history of the 2023 New Zealand Aotearoa general election is written and if Labour gets up to win it historians will point to the events of this week as the turning point in what has already been a dramatic year in politics.
Because I cannot believe how bad National’s tax cut policy release has been researched and structured and how bad its release is going.
Its assumption of earnings has been herculean. And you get the feeling that the the advice behind it is cursory and technical rather than reality based.
And David Parker has clearly set out what the problems are.
From Giles Dexter at Radio New Zealand:
One of the four new ‘targeted revenue measures’ set out to fund National’s Back Pocket Boost tax cuts plan, launched this week, was a partial reversal of the foreign buyers ban, which had been in place since 2018.
It would impose a 15 percent tax on houses worth more than $2m sold to overseas buyers (although Singapore and Australia would be exempt, due to prohibitions within the FTAs). National said the move would raise $740m a year, on average.
However Labour’s overseas investment spokesperson David Parker said New Zealand’s international tax treaties could exempt many other markets from National’s proposed tax.
“It could put us in breach of both our trade agreements, and our agreements in respect of double tax agreements,” he said.
Parker specifically singled out China, saying a non-discrimination article in the double tax agreement between New Zealand and China would exclude China from taxes of every kind and description, making National’s income projections meaningless.
“Chinese buyers were 36.7 percent of non-New Zealand house transfers in the year before overseas speculators were banned. When you add Australia (19 percent) and Singapore (3.5 percent), this means at least 60 percent of non-New Zealand house transfers would be excluded from National’s tax,” Parker said.
According to Parker whether it is described as a tax or a fee there are still problems with it:
“Publicly available Inland Revenue advice provided to a Parliamentary Select Committee clearly states that ‘the non-discrimination Article in the new Double Taxation Agreement [between NZ and China] applies to taxes of every kind and description’.
Current National MPs Paul Goldsmith, Andrew Bayly, Judith Collins and Ian McKelvie were on the Finance and Expenditure Committee when it considered that agreement in 2019.
“This means Chinese nationals must be excluded from National’s proposed tax, in addition to the exclusions for Australia and Singapore that they have already admitted”.
If you take Australian, Singaporean and Chinese buyers out of the high end housing market the potential pool is rather small.
The taxation of online gambling also has been heavily criticised.
From Radio New Zealand:
[Labour Minister Barbara] Edmonds on Thursday told reporters at Parliament offshore online gambling operations were already subject to GST after a change brought in by National in 2016, and far more gamblers would be needed to cover National’s expected costs.“Based on the estimates I’ve seen we believe that New Zealanders lose $350m offshore due to online gambling, that’s based on the GST count that we’re getting,” she said.
Her colleague Kieran McAnulty said the $350m figure was backed up by figures produces by the TAB and Lotto as part of the review of the Gambling Act.
“The TAB has been producing figures to demonstrate why there needs to be regulation of online gambling, Lotto have done the same. If they believed there was four times the amount of people gambling overseas they’d say so because it would strengthen their case.
National’s response has been to refuse to release its costings. From Audrey Young at the Herald:
National finance spokeswoman Nicola Willis has declined to supply critics with the assumptions on which the funding was based. Leader Christopher Luxon used the classic National Party defence along the lines of saying “trust us, we know how to run the economy”.
Of course this could be all a pretext. National may have calculated that some will be sucked in by the promise of a tax cut and not care, and those who do care prefer to get the cold hard cash in their hand. And if this does come to pass you can bet that any shortfall will be met by a blizzard of cuts to services.
And the potential cuts are already showing. National’s Louise Upson has said that a National Government will reverse the Government’s policy of indexing benefit increases to average wage increases and instead index them to changes in the CPI.
And Carmel Sepuloni has given this policy both barrels. From Glenn McConnell at Stuff:
Labour is accusing National of “condemning children to poverty”, after the Opposition’s social development spokesperson said she planned to undo changes that ensured benefits increased with average wage growth.
The Children’s Commission pushed for years to have general benefits indexed to wage growth – which is how pensions have been calculated for decades.
When this change happened in 2020, then children’s commissioner Andrew Becroft called it “the single biggest step to stop children remaining in poverty”.
Labour social development spokesperson Carmel Sepuloni told Stuff National’s proposal would see “thousands” of children sink below the poverty line.
Figures from the Ministry of Social Development estimated that indexing benefits to wage inflation had moved 5000 children out of poverty since the policy came into force.
The proposed changes to interest deductibility make the least sense of all of the tax cuts. The cost is $2.1 billion over four years. The benefits are hard to ascertain, especially since house prices have been dropping since the introduction of Labour’s policy. And Sharon Cullwick who sits on the executive of the New Zealand Property Investors Federation recently gave the game away by conceding that if National’s policy was introduced it would not affect rental levels.
From the Herald:
Cullwick doubted rental prices would come down if the policies were changed.
“It comes back to supply and demand.”
I should declare an interest. I own a rental property bought for a different purpose but currently rented out. National’s policy would be worth about $8,000 a year to me using figures off the top of my head. That is $320 a fortnight. I neither need nor deserve this extra money.
If you want a view from someone who is on the opposite side of the political spectrum to me then try this from occasional Standard commenter Matthew Hooton:
“National’s tax policy was much worse than expected. It reveals a party undeserving of being taken seriously.”
He is right. Time will tell if National has seized defeat from the jaws of victory.
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National’s repeal of Labour’s smokefree legislation has taken New Zealand further away from achieving a Smokefree 2025 and a smokefree generation. ...2 days ago
- Release: Call for Palestine recognition by NZ, Australian and Canadian MPs
Parliamentarians from Australia, Canada and New Zealand have written an open letter to their respective Prime Ministers calling on them to recognise Palestine. ...2 days ago
- Justice Select Committee opens floor for Treaty Principles submissions
Today, the Justice Select Committee has decided to officially open submissions for the controversial Treaty Principles Bill. ...3 days ago
- Power of the people on full display as hīkoi approaches Parliament
Today, Hīkoi mō te Tiriti arrived in Wellington, with thousands gathering to march in unity against the divisive Treaty Principles Bill. ...3 days ago
- Hypocrisy as Te Whatu Ora contractor bill balloons
Te Whatu Ora’s bill for contracting and consulting staff has ballooned by nearly 20 percent under the National Government, breaking a promise they made during the election campaign to cut contractors. ...4 days ago
- Release: Growing pressure to scrap Section 7AA Repeal Bill
The newly released Section 7AA Repeal Bill's select committee report is further evidence that the Government should scrap it. ...5 days ago
- Government’s move to monetise access to nature a slippery slope
The Green Party is voicing serious concerns over the Government’s proposal to charge for access to public conservation land, released today. ...7 days ago
- Green Party condemns the passage of Treaty Principles Bill
The Green Party condemns the passing of the Treaty Principles Bill at first reading, and is clear that the fight is not over. ...1 week ago
- Stand Up for Te Tiriti
Te Tiriti o Waitangi is our country’s founding document. It forms the basis of the relationship between Māori and the Crown – and the Aotearoa New Zealand we live in today. ...1 week ago
- Release: Over 15,000 sign Labour’s open letter to Luxon
As the hīkoi to Parliament continues, Labour has sent an open letter to Prime Minister Christopher Luxon in a last-ditch attempt to get him to kill the Treaty Principles Bill. ...1 week ago
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The fast-track legislation passing its second reading in Parliament is another step towards environmental ruin. ...1 week ago
- Greens join King’s Counsel in calling for Treaty Principles Bill to be abandoned
The Prime Minister must answer the call from a group of senior lawyers of the King’s Counsel to abandon the divisive Treaty Principles Bill. ...1 week ago
- Chris Hipkins’ apology statement to state and faith-based care survivors
...1 week ago
- Release: Labour formally apologises to state and faith-based care survivors
Labour joins with the Government in unreservedly apologising for the abuse, neglect and trauma including torture in state and faith-based care and for ignoring the voices of survivors for too long. ...1 week ago
- Green Party stands in support of survivors of abuse in care
Today, the Green Party stands alongside the survivors of abuse in state care and faith-based care as the Government issues an historic apology. ...1 week ago
- Green Party calls for conscience vote on Treaty Principles Bill
The Green Party has written to the Speaker of the House requesting he enable a personal vote on the Treaty Principles Bill. ...2 weeks ago
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The Green Party is alarmed by the Government’s move to exclude a journalist from covering this week’s apology for the survivors of abuse in state and faith-based care. ...2 weeks ago
- Without action, an apology will be empty air
For tomorrow’s apology to survivors of abuse in state and faith-based care to hold any water, the Government must not pursue the same policies that drove the abuse in the first place. ...2 weeks ago
- Release: Concerns remain over tobacco interference
Concerns about the tobacco industry’s ability to interfere in government policy making remain, despite the inability of the Office of the Auditor-General to investigate the Government’s decision to halve the excise tax on heated tobacco products. ...2 weeks ago
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The Climate Change Commission’s latest advice indicates Aotearoa needs to be stepping up on climate action. ...2 weeks ago
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Break out the punchlines and dust off your meme folder: Green Party MP Kahurangi Carter’s Copyright (Parody and Satire) Amendment Bill was pulled from the Ballot yesterday. ...2 weeks ago
- Release: Poroporoaki: Ta Robert (Bom) Gillies
Kua hinga te manawa kairākau o Te Rua Tekau Ma Waru Tiwhatiwha te po! Kakarauru i te po! Ka rapuhia kei hea koe kua riro! Haere e te Ika a Whiro ki o tini hoa kua ngaro atu ki te Pō ...2 weeks ago
- Labour, Greens and Te Pāti Māori call on the Prime Minister to block the Treaty Principles Bill
The opposition parties stand united for an Aotearoa that honours Te Tiriti, rather than seeking to rewrite it. Labour, the Greens and Te Pāti Māori are working together against the Government’s divisive Treaty Principles Bill. ...2 weeks ago
- Release: Labour, Greens and Te Pāti Māori call on the Prime Minister to block the Treaty Principle...
The opposition parties stand united for an Aotearoa that honours Te Tiriti, rather than seeking to rewrite it. Labour, the Greens and Te Pāti Māori are working together against the Government’s divisive Treaty Principles Bill. ...2 weeks ago
- NZ must pursue independent foreign policy
The Green Party says the need is greater than ever for Aotearoa New Zealand to pursue an independent foreign policy. ...2 weeks ago
- Release: Winston Peters must apologise
The Deputy Prime Minister should apologise to the public servant he named and blamed for something they did not do, and for misusing the rules of Parliament. ...2 weeks ago
- Government action provides Southland farmers more time to meet plan requirements
The Government is taking action to ensure Southland farmers and growers are not affected by unreasonable regional farm plan deadlines, Agriculture Minister Todd McClay, Environment Minister Penny Simmonds and Associate Environment Minister Andrew Hoggard say.“Cabinet has agreed to provide more time for farmers and growers to comply with regional rules ...15 hours ago - Bill reaffirms Government’s commitment to crack down on serious youth offending
The Oranga Tamariki (Responding to Serious Youth Offending) Bill had its first reading at Parliament today. The Bill reaffirms the Government’s commitment to crack down on serious youth offending, Minister for Children Karen Chhour says. “In recent years we have seen an unacceptable spike in youth offending. “This Bill makes ...16 hours ago
- Critical milestones for earthquake buildings review
Fairer, more sensible rules about managing earthquake risks are a step closer with the passing of legislation and the appointment of an independent chair to provide expert advice, Minister for Building and Construction Chris Penk says. “The Government is committed to reinvigorating our cities and regions to support economic growth, ...16 hours ago
- State of the art radiology machine for Auckland
People in Northland and Auckland will benefit from a new machine for cancer treatment installed at the Regional Cancer and Blood Service at Auckland City Hospital. The MV5 linear accelerator, or LINAC machine, officially opened today targets cancer tumours with pinpoint accuracy. Health Minister Dr Shane Reti says this new, ...16 hours ago
- Foreign Minister to visit Europe
Deputy Prime Minister and Foreign Minister Winston Peters will travel to Europe for high-level talks with France, Germany and the United Kingdom next week. "Since taking office almost a year ago, the Coalition Government has emphasised the importance we place on New Zealand's traditional and likeminded diplomatic and ...17 hours ago
- First arrests made under gang patch ban
Police have made their first arrests under the new gang patch legislation, with two gang members arrested, says Police Minister Mark Mitchell. “Just before 11 this morning, Police in Wairoa apprehended a gang member for wearing a patch to the supermarket. He has been arrested and will now face enforcement ...18 hours ago
- Better support for victims of sexual violence
The Government is proposing two major changes to name suppression laws that will put the views of victims of sexual violence first, Justice Minister Paul Goldsmith says. “We are committed to restoring law and order and these two proposed changes will help ensure the victims of crime are put at ...19 hours ago
- Government moving forward with Regional Deals
Cabinet has agreed to invite all regions to submit proposals for Regional Deals between central and local government that drive economic growth and deliver the infrastructure our country needs, Local Government Minister Simeon Brown and Infrastructure Minister Chris Bishop say. Inviting all regions to propose a Regional Deal that boosts ...20 hours ago
- MSA pilot participant update
One of the ten young men selected to participate in the Military-Style Academy Pilot has allegedly reoffended. Children’s Minister Karen Chhour is disappointed but says it would be naïve to think that none of these young men would reoffend. “I’m saddened that this young person has not taken this opportunity ...20 hours ago
- Attendance rates increase, again
Associate Education Minister David Seymour says that school attendance is continuing to rise. In Term 3 of 2024 51.3 per cent of students attended school regularly, an increase of 5.3 percentage points from 46 per cent in Term 3 of 2023. “This Government has prioritised student attendance and it is ...22 hours ago
- Improving the lives of young New Zealanders
Ensuring New Zealand is the best place in the world for children and young people is the vision at the heart of the Government’s new Child and Youth Strategy, Child Poverty Reduction Minister Louise Upston says. “Childhood represents a huge opportunity to set people on a positive path towards living ...1 day ago
- Government continues work to reinstate livestock exports by sea
The Government is reinstating the trade of livestock exports by sea while ensuring the highest standards of animal welfare, says Associate Minister of Agriculture Andrew Hoggard.“The Government will introduce legislation changes to reinstate the trade, enhance oversight, and strengthen requirements for exporters to identify risks and manage the welfare of ...2 days ago
- Speech to the National Quality Forum 2024
Tēnā koutou katoa – it is a pleasure to be here today. I would like to begin by acknowledging the important leadership role you all play in ensuring a quality health system New Zealanders can trust. There is enormous clinical expertise in this room covering a wide range of disciplines. ...2 days ago
- New Zealand’s COP29 National Statement
Tēnā koutou katoa. Mr President, Excellencies, Delegates. New Zealand, and all nations represented here today, are already dealing with the impacts of climate change. Our households, businesses, and economies are bearing the costs of its effects. The choices we make now will shape the severity of these impacts for generations ...2 days ago
- Latest Quarterly Investment Report released
The Government has released its second Quarterly Investment Report (QIR) which shows substantial work still to be done by agencies to improve investment reporting and meet the Government’s expectations, Infrastructure and Acting Finance Minister Chris Bishop says. “New Zealand has significant infrastructure and investment needs. The Government is determined to get ...2 days ago
- New Zealand supporting loss and damage fund
Climate Change Minister Simon Watts announced New Zealand will contribute NZ$10 million to the new Fund for Responding to Loss and Damage while at the annual United Nations Climate Change Conference (COP29) in Baku, Azerbaijan. “New Zealand is joining the global effort to address the significant challenge of responding to ...2 days ago
- Gang crackdown begins at stroke of midnight
The free ride for gangs is over when the clock strikes midnight tonight, with tough new laws officially coming into effect, Justice Minister Paul Goldsmith and Police Minister Mark Mitchell say. “Gang patches will no longer be able to be worn in public. To earn the right to wear a ...2 days ago
- LGFA increases borrowing capacity to support high growth councils
The Government is welcoming the decision by the Local Government Funding Agency to increase access to financing tools for fast growing councils to support greater investment in critical infrastructure, Local Government Minister Simeon Brown says.“Communities across the country are facing an infrastructure deficit and significant population growth is projected in ...2 days ago
- Temporary Traffic Management costs revealed
The Government has revealed that over the past three years, the New Zealand Transport Agency (NZTA) has spent an eyewatering $786 million of taxpayers’ money on road cones and temporary traffic management (TTM), Transport Minister Simeon Brown says.“When I became Minister, I was surprised to learn that that NZTA did ...2 days ago
- Jurisdiction of Disputes Tribunal to double
Legislation that will double the financial jurisdiction of the Disputes Tribunal from $30,000 to $60,000 has passed first reading in Parliament today, Justice Minister Paul Goldsmith. “We need to improve court timeliness and access to justice so that Kiwis and get on with their lives. Court delays affect everyone, the ...3 days ago
- Protecting New Zealand from foreign interference
Legislation that will specifically criminalise foreign interference and strengthen espionage offences has passed first reading in Parliament today, Justice Minister Paul Goldsmith says. “It is normal and appropriate for states to interact and work to influence one another. This encourages cooperation and can have mutually beneficial outcomes. “However, the reality ...3 days ago
- Significant milestone for Canterbury Road of National Significance
Transport Minister Simeon Brown has welcomed news that the NZ Transport Agency (NZTA) Board has approved funding towards pre-implementation and early works on the State Highway 1 (SH1) Belfast to Pegasus Motorway and Woodend Bypass Road of National Significance (RoNS). “Reaching this significant milestone is a reflection of our Government’s ...3 days ago
- Health survey results to help drive change
Health Minister Dr Shane Reti says findings from the annual Health Survey highlight the need to continue driving better health outcomes for New Zealanders. The New Zealand Health Survey is an annual snapshot of key metrics measured from July 2023 – July 2024. Findings released this morning include: In 2023/24, ...3 days ago
- Final push needed to get to Smokefree 2025
A renewed effort to get people to quit smoking will build on what has worked to date and target the groups who most need support, Associate Health Minister Casey Costello said today. “The latest New Zealand Health Survey results show the daily smoking rate at 6.9 per cent and we ...3 days ago
- New diplomatic appointments
Foreign Affairs Minister Winston Peters has announced four new diplomatic appointments. “Our diplomats play an important role in ensuring New Zealand’s interests are maintained and enhanced across the world,” Mr Peters says. “It is a pleasure to announce the appointment of these senior diplomats from the Ministry of Foreign ...3 days ago
- Next steps for Regulatory Standards Bill
Regulation Minister David Seymour has today announced the next steps in the Government’s plan improve the quality of regulation by opening consultation on a proposed Regulatory Standards Bill. “New Zealand's low wages can be blamed on low productivity, and low productivity can be blamed on poor regulation,” says Mr Seymour. ...3 days ago
- Red Tape Tipline goes live
Minister for Regulation David Seymour has today announced that the Ministry for Regulation’s Red Tape Tipline is now live. “We want to hear about your red tape horror stories. From today, New Zealanders will have a say on how they are regulated through an online portal,” says Mr Seymour. The ...3 days ago
- Youth Parliament 2025 announced
The Minister for Youth Matt Doocey has today announced the eleventh Youth Parliament will be taking place in 2025. “Youth Parliament offers a unique youth development opportunity to young people from across New Zealand to experience the political process and learn about how government works,” says Mr Doocey. “The two-day ...4 days ago
- Police stats show promising change
After nearly a year in Government, Kiwis have seen significant change across law and order with promising early results shown across some Police statistics, says Police Minister Mark Mitchell. “In August 2023, I told New Zealanders that if they had not started to see a change in public safety within ...4 days ago
- Better coordination of anti-scam efforts
With the launch of Fraud Awareness Week, the Government is committing to new coordination efforts across industry and government to combat online scams, Commerce and Consumer Affairs Minister Andrew Bayly says. “Online financial scams are a growing problem for New Zealand. New data released today shows that Kiwis lost nearly ...4 days ago
- Minister to consider 7AA select committee report
Minister for Children Karen Chhour will consider the recommendations made by the Social Services and Community Committee in its report back to Parliament on the Oranga Tamariki (Repeal of Section 7AA) Amendment Bill. “I want to thank the people who made submissions and those who appeared before the committee in ...4 days ago
- Defence Minister to attend ASEAN meeting
Defence Minister Judith Collins will this week attend the Association of Southeast Asian Nations (ASEAN) Defence Ministers’ Meeting-Plus in Vientiane, Laos. “We need to take every opportunity to engage with our international partners, given the increasingly unstable geo-political situation,” Ms Collins says. “New Zealand has a long-standing commitment to this ...4 days ago
- Launching the White Ribbon Ride
The Minister for the Prevention of Family and Sexual Violence, Karen Chhour, was on hand to wish riders well at the start of the North Island leg of the White Ribbon Ride in Whakatāne this morning. The ride helps mark the International Day for the Elimination of Violence against Women, ...5 days ago
- Construction to begin on next stage of Papakura to Drury
Construction on the next stage of the SH1 Papakura to Drury project will begin early next month, with the contract for works awarded to Fulton Hogan, Transport Minister Simeon Brown says. "SH1 Papakura to Drury is a key project that will drive economic growth and productivity, reduce congestion, and enable people ...6 days ago
- NZ signs trade deal with Costa Rica, Iceland and Switzerland
Trade and Agriculture Minister Todd McClay has signed a pioneering trade agreement that prioritises New Zealand’s sustainable exports at a ceremony during APEC in Peru today. “The Agreement on Trade and Sustainability (ACCTS), between Costa Rica, Iceland, and Switzerland was concluded in July of this year and opens up significant ...6 days ago
- Government and iwi work together on aquaculture
Five new Aquaculture Settlement Areas will help ensure Ngāi Tahu shares in the opportunities aquaculture offers for Southland’s economy, Oceans and Fisheries Minister Shane Jones says. “The Aquaculture Settlement Areas (ASAs) I’m announcing today set aside space so the Crown and Ngāi Tahu can assess their potential for aquaculture development. ...7 days ago
- Government launches review to ensure electricity market is fit-for-purpose
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- Speech to Social Investment Hui: Jack and his whānau need our help
Kia ora koutou katoa. Nau mai, haere mai, piki mai. Ki te mihi atu ahau, ki te manwhenua nei, Te Atiawa, Ngāti toa rangatira, tēnā koutou, tēnā koutou, tēnā koutou katoa. Thank you, Andy, for your introduction. Let me acknowledge you as the new Chief Executive of the Social Investment ...7 days ago
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Toitū te taiao – Our environment endures The Government is consulting on proposals to modernise New Zealand’s conservation management system, aiming to protect relevant natural areas while supporting sustainable growth in tourism and regional economies, Conservation Minister Tama Potaka says. “Today, the Department of Conservation – Te Papa Atawhai is ...1 week ago
- Knowing superstitions aren’t real doesn’t stop us behaving superstitiously – why?
Source: The Conversation (Au and NZ) – By Stephanie Gomes-Ng, Senior Lecturer of Psychology, Auckland University of Technology Getty Images Former New Zealand prime minister John Key has three white rabbits painted on his helicopter, a nod to his “massively superstitious” habit of repeating “white rabbits” three times at ...2 hours ago - Government slammed for pushing ahead with boot camps while trial still under way
The coalition has "absolutely no intention of listening to the evidence that comes out of their experiment", Labour MP says. ...2 hours ago - Smoke and mirrors in tobacco debate
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Labour claims Government is ‘cherry-picking’ smoking trends data to hide decade-first increase in daily smokers The post Smoke and mirrors in heated tobacco debate appeared first on Newsroom. ...2 hours ago
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A man abused by a former political figure is "immensely relieved" at a government proposal to end secrecy around sex offenders' identities. ...3 hours ago
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There is plenty yet to play out, but the next election is at this rate shaping up as trio versus trio, writes Toby Manhire. A subplot of this week’s historic hīkoi mō te Tiriti has been the sight of the three opposition parties presenting a unified front. Te Pāti Māori ...3 hours ago - All 33 malls in Auckland ranked from worst to best
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Opinion: The immediate horror of nuclear weapon explosions – the blinding flash, crushing blast wave, and radioactive inferno – is well documented.But what nuclear-armed nations either don’t grasp or won’t admit, is far more chilling: how their weapons could devastate even countries thousands of kilometres from any mushroom clouds.The collapse ...3 hours ago
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Loading…(function(i,s,o,g,r,a,m){var ql=document.querySelectorAll('A[data-quiz],DIV[data-quiz]'); if(ql){if(ql.length){for(var k=0;k<ql.length;k++){ql[k].id='quiz-embed-'+k;ql[k].href="javascript:var i=document.getElementById('quiz-embed-"+k+"');try{qz.startQuiz(i)}catch(e){i.start=1;i.style.cursor='wait';i.style.opacity='0.5'};void(0);"}}};i['QP']=r;i[r]=i[r]||function(){(i[r].q=i[r].q||[]).push(arguments)},i[r].l=1*new Date();a=s.createElement(o),m=s.getElementsByTagName(o)[0];a.async=1;a.src=g;m.parentNode.insertBefore(a,m)})(window,document,'script','https://take.quiz-maker.com/3012/CDN/quiz-embed-v1.js','qp');Got a good quiz question? Send Newsroom your questions.The post Newsroom daily quiz, Friday 22 November appeared first on Newsroom. ...3 hours ago
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That's what national wants to rectify, the house owners want there tax free capital gains back. So they can borrow to buy their rentals,holidays,boats etc.
The fact that their main tax grab is based around selling houses to foreigners is the worst part of the whole thing, the fact their numbers are wrong is secondary to me
What tax policy would hooton want??
I'm picking his would be worse
The common misconception that Labour are not good economic managers forces them to be 'fiscally responsible'. The common misconception that National are good economic managers gives them the freedom not to be 'fiscally responsible'. Perception and reality are thus driven beyond what was initially just a mere disjunction, to the point of becoming opposites. And nobody seems to notice. and while I hope you are right MS, I'm not sure anyone's about to start noticing.
A bit like women having to perform twice as good to be equal.
Well, Shamubeel Eaqub is derisive of National's tax policy describing parts of it as "bullshit". Fran O'Sullivan was not impressed either:
From this morning's The Nation on TV3:
https://twitter.com/NewshubNationNZ/status/1697733287580471547?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet
Gosh Anne. That was an amazing critique from Shamubeel and a right wing supporter Fran. All the points covered condemn the National plan as Micky wrote. As someone said maybe the Election will not be on Policy but feelings. Just as thin as Trump is so good at.
Everyone should see Anne's link especially as it comes from Newshub a usually right of centre unit.
https://twitter.com/NewshubNationNZ/status/1697733287580471547?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet
It's very much a … we will not back up our claims strategy because …we are National … and those who work for the entitled/privilged, do not have to.
https://www.nzherald.co.nz/nz/election-2023-national-party-leader-chris-luxon-to-unveil-pledge-card-promise-at-campaign-launch-as-freedoms-nz-plan-to-converge-on-it/P3GHNI5ICVGVNN3T6ATUO3UXOY/
You say all that, but from what I am seeing and hearing kiwis love it.
Sorry Micky, but this is more wishful thinking than reality.
Bet you haven't looked at Anne's link Mickey Boyle
https://twitter.com/NewshubNationNZ/status/1697733287580471547?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet
Perhaps you should visit an optometrist Mr Boyle, and an audiologist……..might help you in feeling not quite so sorry…..
Just my view Kat.
I may be wrong, or you may be wrong. Time will tell.
Ha….a bob each way then is it Mr Boyle…………perhaps you should include a visit to gamblers anonymous….
Are these the (several hundred per month) people you apparently see and hear ?
This could be…or BS ? Maybe you dont like to see the Nat fish hooks?
Same people.
Unlike some I don't stay in an echo chamber. That's why I know that unless something drastic happens, Labour will be consigned to the opposition benches come mid October.
The mood for change and anti Labour sentiment is palpable.
Good to see Chris announce a dental policy today, hopefully there is more of this.
Willis and Luxon have no charisma Hipkins has plenty.National's tax policy only benefits the well off families only 34% of families earn over $100,000 once people realise the average median family who earn under $80,000 a year that their is only crumbs or barely 1/2 a block of cheese in it for them and it won't be till July next year.When Mathew Hooton criticises Nationals tax cuts as a flop you know its a failure.Then National funding of policy is a sham.Given they have had 6 years to sort it.Then Nationals Wellsford to puhoi 4 Lane Road costings are completely fictitious.Nationals $2.3 billion costing is under half the most recent costing.But after cyclone Gabriel exposed how unstable the land is making it even more expensive then the on going maintenance required to
Continuously mitigate the moving land.$100's of million for a road that could be closed regularly with more weather events like Gabrielle .National have run out of ideas so bribing the squeezed middle to give the bulk of tax cuts to the Well off at a time when those under real financial pressure get nothing from National.
You really should stop making up these numbers.
According to MBIE the median family income for a household in New Zealand in 2023 was $115,200.
What do you claim to know that they don't?
http://webrear.mbie.govt.nz/theme/household-income-median/map/timeseries/2023/new-zealand?right-transform=absolute
He said average you said median as if this was a direct comparison ROFL – I have no idea if Tc's figures are correct but I have to pull you up for your usual disingenous bullshit. Try arguing honestly for a change
What he said was "only 34% of families earn over $100,000 once people realise the average median family who earn under $80,000 a year "
Well the median income is defined as being the middle of the distribution. By definition half the group get more than the median figure and half get less. If MBIE is correct then his claim that only 34% are above $100k is false.
He also talks about "the average median family". What he means is unclear but once you see the words together I read it as being the average family on the median income. Perhaps he means something else but he never bothers to justify any of his claims so who can possibly know.
It isn't greatly relevant anyway. In any positively skewed frequency distribution the mean is always greater than the median and the median is greater than the mode. Household incomes in New Zealand are an example of such a distribution so the average, which is what the mean is, will be more than that the median and he is even more out of step with what MBIE is saying. I am not aware of any real case where the distribution of incomes in a country do not show a positively skewed distribution.
I suggest that if you are going to try and discuss this you get some minor understanding about what the terms mean. Then you might be able to argue honestly.
Should have watched Q&A this morning.Any credibility wannabe finance minister Nicola 'shriek' Willis had….just ..evaporated.
How many times do national have to noise dive our economy, before people get they 'ant that good at managing an economy.
Apart from the current 1.1% inflation we have stripping away any tax cut benefits by the time they implement them.
We are looking at a crisis like the UK with election of nat/act. Worse though, with no City of London to stop/slow down the mad rush of capital out of the country.
Tax policy, more like a lolly scramble for those looking to make a quick buck.
Of course the Nats are betting on ignorance and greed. It's all they've ever done and all they are capable of.
That's why we need civics education. If people actually knew what they were voting for, the Nat voting base would be in the teens, if that.
A functioning media would be useful too.
Kat. 100%. Sounds like a Paula Bennet sound bite. Golly gosh! all the kiwis I know just love our policies. Who wouldn’t want an extra $2 a week in their back pocket. It will help pay for public transport and prescription that we will be taking back to the past. See! Fiscally neutral! We are financial wizards sweeties.
Overseas buyers that have enough money to pay for a house selling for over $2 million dollars probably will just judge the extra 15% as a inconvenience rather than a hindrance.
National trying to make it look like they care about our national housing shortage. The policy is so thin you can see through it.
And you can bet some greedy bastards (looking at you, Luxon, Mitchell et al) will be inflating the value of their 3rd or 4th property into the $2M bracket in order to make a killing!
OMG, the Natz (and Act) are appalling!
Again, National has put up a big FOR SALE sign for rich overseas buyers & immigrants.
https://www.stuff.co.nz/business/132855849/us-billionaires-eyeing-up-auckland-as-national-party-teases-lift-of-buyer-ban
But make no mistake, this cynical election ploy goes beyond bribing ‘middle-NZ’, as it harks back to the Panama Papers and John Key’s wet dream of turning NZ into “ an Asia-Pacific “Switzerland” ”.
https://www.nzherald.co.nz/business/fran-osullivan-keys-vision-switzerland-south/67JEXE73GVNPTQZUAU75KN4T2U/ [coincidentally, by Fran O’Sullivan]
National has form in looking after the rich & famous, irrespective of where they come from and who they are, at the expense of low- and middle-NZ. They sold off as much of the ‘family silver’ and a stake in SOEs as they could get away with, at the time, and raised GST despite promising not to.
Nicola Willis is doing a great job conning voters that this about affording ice creams and DVDs for her children and her blatant dishonesty is as much eye opening as it is eye watering. Not for one second should anybody believe that Nicola Willis is in the same boat as they are. No wonder she is Deputy Leader of that gang of cronies.
https://www.parliament.nz/media/10244/230518-willis-amendment.pdf
National only has to fool enough people for long enough to get over the line on 14 October.
Let the Voter Beware, of National.
National like to compare NZ to Australia where taxes are much higher on the wealthy.Then National are taking away free prescriptions as Australia cuts prescription charges.
Someone should enlighten National that Australia has a Labor govt………….
I think you made up all of that yourself.
Sure, they have a CGT and a higher top income tax rate (and a stamp duty on home purchase).
Not sure that they tax the wealthy more though (not a wealth tax, or estate tax).
And like Labour here they cut prescription charges this year –
https://www.health.gov.au/ministers/the-hon-mark-butler-mp/media/cheaper-medicines-and-backing-local-pharmacies
We are warned.
There is no way that sort of change is indicated by anything in the pledge card.
https://www.nzherald.co.nz/nz/election-2023-national-party-leader-chris-luxon-to-unveil-pledge-card-promise-at-campaign-launch-as-freedoms-nz-plan-to-converge-on-it/P3GHNI5ICVGVNN3T6ATUO3UXOY/
Promising to increase super every year – but not saying how, when ACT want to save money by using the CPI is interesting.
also want to extend the retirement age.
Ah, but did you read what’s on the other side of the pledge card? It’s an old magician’s trick.
Anyone else tired of Nationals fraudulent claim of a $250 a fortnight tax cut to the average-income household with children.
https://www.newshub.co.nz/home/politics/2023/09/election-2023-christopher-luxon-makes-eight-point-personal-pledge-to-new-zealanders-at-national-campaign-launch.html
Newshub partially corrected the narrative with the information – but should go further. Their Family Boost only applies to early childhood education expenses – under 5's.
So media reports should say only for parents with children under 5 that have child care costs.
For a party claiming competence
National plans is to take over $500m a year from the Climate Emergency Response Fund, which is paid for by polluters through the Emissions Trading Scheme.
Which means whenever there is a (inevitable) weather event there is no contingency made for consequent government spending.
One wonders what someone like Ruth Richardson thinks of that.
Then there is the extra detail of taking away the regional fuel tax in Auckland – used by the council there for their transport policy. And at the same time ending the half fare PT for those under 24 and CSC holders and free PT for those under 12.
Every step taken demonstrates a focus on roads and cars and a lack of resourcing for PT alternatives.
It’s so 20th C thinking.
With the NACTs wanting to gut expenditure on everything we had better hope that if they win the country will be spared the scale of natural disasters that Labour had to clean up after.
Can you imagine ACT's response to major floods or earthquakes? What sort of government relief from disasters would you get under them? If it happened in Ponsonby there might be, everyone else would be told to hold a few sausage sizzles and gala days to raise the money to rebuild.
Can’t do any wasteful spending!
Doesn't Act believe in user pays? You need it, you pay for it!
Pretty legal, eh Nic…
/
There was one very important word in Jack Tame’s interview with shadow finance minister Nicola Willis on TVNZ’s Q+A this morning about National’s policy to introduce a 15 per cent foreign buyer tax on the sale of houses over $2 million.
It was evident from what Willis said that National had not sought advice on tax treaties before the party’s taxation policy release on Wednesday by herself as finance spokeswoman.
Yes, they had sought advice on trade agreements, she said, but when Tame pressed her about tax treaties, this is what she said: “We have subsequently talked to people about tax treaties because the view about tax treaties is that it does depend on whether or not the foreign buyer charge is seen as a tax or not, and also depend on the country you are dealing with.”
“Subsequently” means after the policy release.
https://www.nzherald.co.nz/nz/politics/election-2023-dispute-widens-over-legitimacy-of-nationals-foreign-buyer-tax-audrey-young/XIHZTECXHJFKJCN3TORZD76E34/
Can you imagine China saying to National that it would only object (and make responses like tariffs on our exports) if we went ahead with AUKUS (pillar) 2, sustained support for the international ruling on the South China Sea islands (and thus ASEAN nations on the issue) or departed from the position that Taiwan was part of China in any way?
Numpties.
Yes, he did not hold back, he had nothing good to say about National's policy. I have always respected his views
The clearest explanations showing precisely how ridiculously flawed national's tax policy is will make not a jot of difference if that message doesn't get out to the voting public. It's all well and good talking about it here on TS, but it's voters who need to hear and understand it. Selling a message has always been Labour's weak point.