web analytics

Nats’ economic failures just another excuse for cuts

Written By: - Date published: 10:49 am, April 27th, 2012 - 16 comments
Categories: bill english, budget2012, debt / deficit, Economy, john key, tertiary education - Tags:

Didn’t take much clairvoyance to see that National would fail to meet its promise of a Budget surplus by 2014/15. Once again, the forecasts have been downgraded. Once again, English could barely contain his grin as he said ‘welp, we’ll just have to cut some more’.

You’ve never seen a Finance Minister have his forecasts cut so often and look so happy about it. His failure against his own artificial target gives him an excuse to cut.

His party’s ineptness to blame but we pay.

The UK’s just entered a double-dip recession thanks to its austerity measures. English and Key seem hell-bent on following the same course.

Students look to be the target this round. Eligibility cuts, it seems. They say they won’t put interest on and they won’t move the repayment threshold until 2015 (that saved $70m – one off). The eligibility cuts will have to be pretty severe to save any real cash. Student loans only cost $800m a year – 1.1% of govt spending – so you would need to take a lot of it to make a difference.

16 comments on “Nats’ economic failures just another excuse for cuts ”

  1. Lanthanide 1

    Supposedly they’re going to be closing ‘tax loopholes’ as well. I wonder if it’s going to be the same sort of thing they did to gift duty: just cut up a hole in the cloth and therefore it’s no longer a loophole!

    • Deano 1.1

      wasn’t that their excuse for cutting the top tax rate? ‘lots of people are using loopholes to avoid it, so we’ll reward them by cutting it for everyone’

  2. Bill 2

    His party’s ineptness to blame but we pay.

    Is it? Is it really ineptness on the part of the National Party and other governing parties across the anglo-saxon world to run policies that concentrate power and wealth in fewer hands? Is it really ineptness to run policies that will see a return to a 1920’s style of Capitalism where the fabled ‘middle classes’ have been returned to whence they came; the heaving mass of the unprivileged simply thankful if they can ‘get by’ on a week to week basis?

    If I had my way, there’d be no more talk from the left of the ‘failure’ and ‘ineptitude’ of the right. Wouldn’t it be nice if the entire broad left simply called it as it is? The gains that were made by many ordinary people following WWII and the institutions that underpinned those gains are being successfully rolled back and/or destroyed. And it’s deliberate. The best present the left can give the right is to keep harping on at the right’s apparent stupidity and so seduce people into believing that if only the right can be made to see the error of their ways that more socially responsible policies will be pursued. That’s only going to buy the right years of breathing space.

    And I think it has to be pointed out again and again and again that the former parliamentary left is no longer of the left. Otherwise we’ll simply continue on this track where, when the so-called left takes control of government, the foot comes off the gas a little and ‘getting worse slower’ masquerades as ‘getting better’. It just makes people frustrated and angry. And then we either don’t vote (what’s the point?) or vote for a genial media generated personality (why not?) And the right at some point take over from the caretaker ‘steady as she goes’ left government and the pedal’s pushed to the metal again.

    It’s all bollocks. And saying it’s down to stupidity or misguided intentions is about as helpful as the soap opera politics thats kind of prevalent on the left. Time to stand back and look at the big picture and offer no excuses or distractions for either of the parliamentary wings.

    I could have put this comment under ‘the reverse Midas touch’ post or any number of posts that misguidedly decry Nationals supposed mismanagement. It’s not mismanagement. And the elites in Australia probably look to NZ with envy and wish the Australian government could make similar inroads to the ‘post WWII consensus’…or whatever label you want to assign to the concessions those in their economic position made after 1945. They too have an eye on closing that wage gap.

    • just saying 2.1

      Completely agree Bill

      This could be a post….

    • Kevin Welsh 2.2

      +1

      Simple, to the point and telling it like it is.

    • Draco T Bastard 2.3

      +1

      The left really need to take the gloves off and state how it is. Unfortunately, the “left” of today follows the same socio-economic paradigm as the right which, of course, only benefits the few while impoverishing everyone else.

    • JonL 2.4

      Bill – you’ve hit the nail square on the head!
      When will NZ’ers realise, that, like it’s namesakes over the ditch and in the UK, the Labour party is no longer a party “of the left”, or “for the poor and downtrodden”!

    • rosy 2.5

      +1 It’s never been good to call Key & Co stupid, inept etc. These people are clearly not stupid – they wouldn’t be where they are if they were (I’m excepting Brownlee here). I see two negative points with this strategy.

      The first is the public turns off because they can see it as name-calling and inaccurate. The second is the public is not given an alternative way of viewing NAct’s decisions (that the NAct strategy is in the best interests of their friends and that doesn’t coincide with the public’s best interests).

      It’s too easy to switch off if the opposition is framed in absurd terms.

  3. Dr Terry 3

    I love the remark about English (repeatedly bringing us bad news) looking so happy about it! Exactly!
    I am sure, given his personal circumstances in life, he has plenty to smile about!

    • jack 3.1

      It’s called leveraging. Leverage the sales of assets. Make the situation worse to make it appear that asset sales are the only way out. Key is not a good business man because a good business man would not sell his assets when the returns are between 8 to 10 percent. He’d keep them. English is smiling because he can’t wait to get his hands on the those assets. Oh and let’s pay 2 billion for unnessary roads. Key and Co. don’t act like there is a recession. I have seen it all before.. George W Bush and his running mate Darth Vader.

  4. Anthony Blomfield 4

    Thanks Bill:

    Solution: Start an independent TV channel like TV7 which actually really conveys the news.
    (Broadcast without a Licence and incluse a range of real issues from Left and right up and down)

  5. What’s this? More broken election promises? We’re not even 6 months into the second term!

  6. Treetop 6

    When did NZ last have two zero budgets in a row?

    • mike e 6.1

      never the last budget was supposed to be Zero but is negative and this one will be negative.

  7. On a related issue – something to watch tomorrow (Sunday) on TV1;

    Are our homes killing our children? 10am this week on Marae Investigates 29 April 2012 TV ONE – http://www.youtube.com/watch?v=nRgzDZYmlBs&feature=youtu.be

Recent Comments

Recent Posts

  • Celebrating the Entry Into Force of the Treaty on the Prohibition of Nuclear Weapons
    [Opening comments, welcome and thank you to Auckland University etc] It is a great pleasure to be here this afternoon to celebrate such an historic occasion - the entry into force of the Treaty on the Prohibition of Nuclear Weapons. This is a moment many feared would never come, but ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Supporting disabled people to stay connected
    The Government is providing $3 million in one-off seed funding to help disabled people around New Zealand stay connected and access support in their communities, Minister for Disability Issues, Carmel Sepuloni announced today. The funding will allow disability service providers to develop digital and community-based solutions over the next two ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Voluntary saliva testing offered to quarantine workers from Monday
    Border workers in quarantine facilities will be offered voluntary daily COVID-19 saliva tests in addition to their regular weekly testing, COVID-19 Response Minister Chris Hipkins said today. This additional option will be rolled out at the Jet Park Quarantine facility in Auckland starting on Monday 25 January, and then to ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Next steps in firearms buy-back
    The next steps in the Government’s ambitious firearms reform programme to include a three-month buy-back have been announced by Police Minister Poto Williams today.  “The last buy-back and amnesty was unprecedented for New Zealand and was successful in collecting 60,297 firearms, modifying a further 5,630 firearms, and collecting 299,837 prohibited ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • New Public Housing Plan announced
    The Government has released its Public Housing Plan 2021-2024 which outlines the intention of where 8,000 additional public and transitional housing places announced in Budget 2020, will go. “The Government is committed to continuing its public house build programme at pace and scale. The extra 8,000 homes – 6000 public ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Prime Minister congratulates President Joe Biden on his inauguration
    Prime Minister Jacinda Ardern has congratulated President Joe Biden on his inauguration as the 46th President of the United States of America. “I look forward to building a close relationship with President Biden and working with him on issues that matter to both our countries,” Jacinda Ardern said. “New Zealand ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Jobs for Nature funding will create training and employment opportunities
    A major investment to tackle wilding pines in Mt Richmond will create jobs and help protect the area’s unique ecosystems, Biosecurity Minister Damien O’Connor says. The Mt Richmond Forest Park has unique ecosystems developed on mineral-rich geology, including taonga plant species found nowhere else in the country. “These special plant ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Pre-departure testing extended to all passengers to New Zealand
    To further protect New Zealand from COVID-19, the Government is extending pre-departure testing to all passengers to New Zealand except from Australia, Antarctica and most Pacific Islands, COVID-19 Response Minister Chris Hipkins said today. “The change will come into force for all flights arriving in New Zealand after 11:59pm (NZT) on Monday ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Bay Cadets learn skills to protect environment
    Bay Conservation Cadets launched with first intake Supported with $3.5 million grant Part of $1.245b Jobs for Nature programme to accelerate recover from Covid Cadets will learn skills to protect and enhance environment Environment Minister David Parker today welcomed the first intake of cadets at the launch of the Bay ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Cook Islanders to resume travel to New Zealand
    The Prime Minister of New Zealand Jacinda Ardern and the Prime Minister of the Cook Islands Mark Brown have announced passengers from the Cook Islands can resume quarantine-free travel into New Zealand from 21 January, enabling access to essential services such as health. “Following confirmation of the Cook Islands’ COVID ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Supporting communities and landowners to grow employment opportunities
    Jobs for Nature funding is being made available to conservation groups and landowners to employ staff and contractors in a move aimed at boosting local biodiversity-focused projects, Conservation Minister Kiritapu Allan has announced. It is estimated some 400-plus jobs will be created with employment opportunities in ecology, restoration, trapping, ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Border exception for some returning international tertiary students
    The Government has approved an exception class for 1000 international tertiary students, degree level and above, who began their study in New Zealand but were caught offshore when border restrictions began. The exception will allow students to return to New Zealand in stages from April 2021. “Our top priority continues ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Tiwai deal gives time for managed transition
    Today’s deal between Meridian and Rio Tinto for the Tiwai smelter to remain open another four years provides time for a managed transition for Southland. “The deal provides welcome certainty to the Southland community by protecting jobs and incomes as the region plans for the future. The Government is committed ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • New member for APEC Business Advisory Council
    Prime Minister Jacinda Ardern has appointed Anna Curzon to the APEC Business Advisory Council (ABAC). The leader of each APEC economy appoints three private sector representatives to ABAC. ABAC provides advice to leaders annually on business priorities. “ABAC helps ensure that APEC’s work programme is informed by business community perspectives ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Govt’s careful economic management recognised
    The Government’s prudent fiscal management and strong policy programme in the face of the COVID-19 global pandemic have been acknowledged by the credit rating agency Fitch. Fitch has today affirmed New Zealand’s local currency rating at AA+ with a stable outlook and foreign currency rating at AA with a positive ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Additional actions to keep COVID-19 out of NZ
    The Government is putting in place a suite of additional actions to protect New Zealand from COVID-19, including new emerging variants, COVID-19 Response Minister Chris Hipkins said today. “Given the high rates of infection in many countries and evidence of the global spread of more transmissible variants, it’s clear that ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • 19 projects will clean up and protect waterways
    $36 million of Government funding alongside councils and others for 19 projects Investment will clean up and protect waterways and create local jobs Boots on the ground expected in Q2 of 2021 Funding part of the Jobs for Nature policy package A package of 19 projects will help clean up ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • New Zealand Government acknowledges 175th anniversary of Battle of Ruapekapeka
    The commemoration of the 175th anniversary of the Battle of Ruapekapeka represents an opportunity for all New Zealanders to reflect on the role these conflicts have had in creating our modern nation, says Associate Minister for Arts, Culture and Heritage Kiri Allan. “The Battle at Te Ruapekapeka Pā, which took ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Better care for babies with tongue-tie
    Babies born with tongue-tie will be assessed and treated consistently under new guidelines released by the Ministry of Health, Associate Minister of Health Dr Ayesha Verrall announced today. Around 5% to 10% of babies are born with a tongue-tie, or ankyloglossia, in New Zealand each year. At least half can ...
    BeehiveBy beehive.govt.nz
    3 weeks ago