No surplus for you!
Written By:
- Date published:
11:17 am, June 15th, 2012 - 14 comments
Categories: debt / deficit, Economy -
Tags: strategic deficit
National has reduced the multifaceted, extremely complex job of economy management to a simple bookkeeping goal: a surplus, whatever its size, by 2014/15 (usefully, we won’t know if it has happened until after the 2014 election). Treasury came to the party, projecting a $200m, 0.08% of GDP, surplus for 2014/15 in the Budget. Now, the Reserve Bank’s projected a 1.1%, $2.5b deficit. Oops.
The difference comes down to growth assumptions. Treasury sees more growth in the next 3 years than the past 8. The Reserve Bank’s Monetary Policy Statement sees cumulative growth a third lower than that. Interestingly, its long-run growth assumption is 0.3-0.4% per quarter, half of Treasury’s and basically at the level of population growth.
All up, the Reserve Bank projects nearly $5b extra borrowing than Treasury did just a couple of months ago – pushing net debt above another arbitrary National target, 30% of GDP.
The sad thing is that National says it is more optimistic than Treasury and the reality is that the Reserve Bank is probably too optimistic. And, because National has set that surplus target as the holy grail, it will use more economic under-performance as a justification for further cuts to public services. Never mind the fact that National’s tax cuts for the rich and wasteful spending on subsidies for polluters is at the heart of the deficit.
14 comments on “No surplus for you! ”
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- Release: Quick, submit – stop Govt’s dodgy approvals billThe Government is trying to bring in a law that will allow Ministers to cut corners and kill off native species, Labour environment spokesperson Rachel Brooking said. ...2 weeks ago
- Government throws coal on the climate crisis fireThe Government’s policy announced today to ease consenting for coal mining will have a lasting impact across generations. ...2 weeks ago
- Release: Public transport costs to double as National looks at unaffordable roading project insteadCancelling urgently needed new Cook Strait ferries and hiking the cost of public transport for many Kiwis so that National can announce the prospect of another tunnel for Wellington is not making good choices, Labour Transport Spokesperson Tangi Utikere said. ...3 weeks ago
- Release: Cost of living in Auckland still not a priorityA laundry list of additional costs for Tāmaki Makarau Auckland shows the Minister for the city is not delivering for the people who live there, says Labour Auckland Issues spokesperson Shanan Halbert. ...3 weeks ago
- Te Pāti Māori to visit Queensland to strengthen ties with Māori in AustraliaTe Pāti Māori co-leader Rawiri Waititi, and Mema Paremata mō Tāmaki-Makaurau, Takutai Tarsh Kemp, will travel to the Gold Coast to strengthen ties with Māori in Australia next week (15-21 April). The visit, in the lead-up to the 9th Australian National Kapa haka Festival, will be an opportunity for both ...3 weeks ago
- Decision allows for housing growth in Western Bay of Plenty
The Minister Responsible for RMA Reform, Chris Bishop today released his decision on four recommendations referred to him by the Western Bay of Plenty District Council, opening the door to housing growth in the area. The Council’s Plan Change 92 allows more homes to be built in existing and new ...4 hours ago - Speech to New Zealand China CouncilThank you, John McKinnon and the New Zealand China Council for the invitation to speak to you today. Thank you too, all members of the China Council. Your effort has played an essential role in helping to build, shape, and grow a balanced and resilient relationship between our two ...7 hours ago
- Modern insurance law will protect Kiwi householdsThe Government is modernising insurance law to better protect Kiwis and provide security in the event of a disaster, Commerce and Consumer Affairs Minister Andrew Bayly announced today. “These reforms are long overdue. New Zealand’s insurance law is complicated and dated, some of which is more than 100 years old. ...22 hours ago
- Government recommits to equal payThe coalition Government is refreshing its approach to supporting pay equity claims as time-limited funding for the Pay Equity Taskforce comes to an end, Public Service Minister Nicola Willis says. “Three years ago, the then-government introduced changes to the Equal Pay Act to support pay equity bargaining. The changes were ...1 day ago
- Transforming how our children learn to readStructured literacy will change the way New Zealand children learn to read - improving achievement and setting students up for success, Education Minister Erica Stanford says. “Being able to read and write is a fundamental life skill that too many young people are missing out on. Recent data shows that ...1 day ago
- NZ not backing down in Canada dairy disputeTrade Minister Todd McClay says Canada’s refusal to comply in full with a CPTPP trade dispute ruling in our favour over dairy trade is cynical and New Zealand has no intention of backing down. Mr McClay said he has asked for urgent legal advice in respect of our ‘next move’ ...1 day ago
- Stronger oversight for our most vulnerable childrenThe rights of our children and young people will be enhanced by changes the coalition Government will make to strengthen oversight of the Oranga Tamariki system, including restoring a single Children’s Commissioner. “The Government is committed to delivering better public services that care for our most at-risk young people and ...1 day ago
- Streamlining Building Consent ChangesThe Government is making it easier for minor changes to be made to a building consent so building a home is easier and more affordable, Building and Construction Minister Chris Penk says. “The coalition Government is focused on making it easier and cheaper to build homes so we can ...1 day ago
- Minister acknowledges passing of Sir Robert Martin (KNZM)New Zealand lost a true legend when internationally renowned disability advocate Sir Robert Martin (KNZM) passed away at his home in Whanganui last night, Disabilities Issues Minister Louise Upston says. “Our Government’s thoughts are with his wife Lynda, family and community, those he has worked with, the disability community in ...2 days ago
- Speech to New Zealand Institute of International Affairs, Parliament – Annual Lecture: Challenges ...Good evening – Before discussing the challenges and opportunities facing New Zealand’s foreign policy, we’d like to first acknowledge the New Zealand Institute of International Affairs. You have contributed to debates about New Zealand foreign policy over a long period of time, and we thank you for hosting us. ...2 days ago
- Accelerating airport security linesFrom today, passengers travelling internationally from Auckland Airport will be able to keep laptops and liquids in their carry-on bags for security screening thanks to new technology, Transport Minister Simeon Brown says. “Creating a more efficient and seamless travel experience is important for holidaymakers and businesses, enabling faster movement through ...2 days ago
- Community hui to talk about kina barrensPeople with an interest in the health of Northland’s marine ecosystems are invited to a public meeting to discuss how to deal with kina barrens, Oceans and Fisheries Minister Shane Jones says. Mr Jones will lead the discussion, which will take place on Friday, 10 May, at Awanui Hotel in ...2 days ago
- Kiwi exporters win as NZ-EU FTA enters into forceKiwi exporters are $100 million better off today with the NZ EU FTA entering into force says Trade Minister Todd McClay. “This is all part of our plan to grow the economy. New Zealand's prosperity depends on international trade, making up 60 per cent of the country’s total economic activity. ...2 days ago
- Mining resurgence a welcome signThere are heartening signs that the extractive sector is once again becoming an attractive prospect for investors and a source of economic prosperity for New Zealand, Resources Minister Shane Jones says. “The beginnings of a resurgence in extractive industries are apparent in media reports of the sector in the past ...2 days ago
- Ō-Rākau Remembrance Bill passes first readingThe return of the historic Ō-Rākau battle site to the descendants of those who fought there moved one step closer today with the first reading of Te Pire mō Ō-Rākau, Te Pae o Maumahara / The Ō-Rākau Remembrance Bill. The Bill will entrust the 9.7-hectare battle site, five kilometres west ...3 days ago
- Government to boost public EV charging networkEnergy Minister Simeon Brown has announced 25 new high-speed EV charging hubs along key routes between major urban centres and outlined the Government’s plan to supercharge New Zealand’s EV infrastructure. The hubs will each have several chargers and be capable of charging at least four – and up to 10 ...3 days ago
- Residential Property Managers Bill to not progressThe coalition Government will not proceed with the previous Government’s plans to regulate residential property managers, Housing Minister Chris Bishop says. “I have written to the Chairperson of the Social Services and Community Committee to inform him that the Government does not intend to support the Residential Property Managers Bill ...3 days ago
- Independent review into disability support servicesThe Government has announced an independent review into the disability support system funded by the Ministry of Disabled People – Whaikaha. Disability Issues Minister Louise Upston says the review will look at what can be done to strengthen the long-term sustainability of Disability Support Services to provide disabled people and ...3 days ago
- Justice Minister updates UN on law & order planJustice Minister Paul Goldsmith has attended the Universal Periodic Review in Geneva and outlined the Government’s plan to restore law and order. “Speaking to the United Nations Human Rights Council provided us with an opportunity to present New Zealand’s human rights progress, priorities, and challenges, while responding to issues and ...3 days ago
- Ending emergency housing motels in RotoruaThe Government and Rotorua Lakes Council are committed to working closely together to end the use of contracted emergency housing motels in Rotorua. Associate Minister of Housing (Social Housing) Tama Potaka says the Government remains committed to ending the long-term use of contracted emergency housing motels in Rotorua by the ...3 days ago
- Trade Minister travels to Riyadh, OECD, and DubaiTrade Minister Todd McClay heads overseas today for high-level trade talks in the Gulf region, and a key OECD meeting in Paris. Mr McClay will travel to Riyadh to meet with counterparts from Saudi Arabia and the Gulf Cooperation Council (GCC). “New Zealand’s goods and services exports to the Gulf region ...4 days ago
- Education priorities focused on lifting achievementEducation Minister Erica Stanford has outlined six education priorities to deliver a world-leading education system that sets Kiwi kids up for future success. “I’m putting ambition, achievement and outcomes at the heart of our education system. I want every child to be inspired and engaged in their learning so they ...4 days ago
- NZTA App first step towards digital driver licenceThe new NZ Transport Agency (NZTA) App is a secure ‘one stop shop’ to provide the services drivers need, Transport Minister Simeon Brown and Digitising Government Minister Judith Collins say. “The NZTA App will enable an easier way for Kiwis to pay for Vehicle Registration and Road User Charges (RUC). ...4 days ago
- Supporting whānau out of emergency housingWhānau with tamariki growing up in emergency housing motels will be prioritised for social housing starting this week, says Associate Housing Minister Tama Potaka. “Giving these whānau a better opportunity to build healthy stable lives for themselves and future generations is an essential part of the Government’s goal of reducing ...4 days ago
- Tribute to Dave O'SullivanRacing Minister Winston Peters has paid tribute to an icon of the industry with the recent passing of Dave O’Sullivan (OBE). “Our sympathies are with the O’Sullivan family with the sad news of Dave O’Sullivan’s recent passing,” Mr Peters says. “His contribution to racing, initially as a jockey and then ...4 days ago
- Speech – Eid al-FitrAssalaamu alaikum, greetings to you all. Eid Mubarak, everyone! I want to extend my warmest wishes to you and everyone celebrating this joyous occasion. It is a pleasure to be here. I have enjoyed Eid celebrations at Parliament before, but this is my first time joining you as the Minister ...4 days ago
- Government saves access to medicinesAssociate Health Minister David Seymour has announced Pharmac’s largest ever budget of $6.294 billion over four years, fixing a $1.774 billion fiscal cliff. “Access to medicines is a crucial part of many Kiwis’ lives. We’ve committed to a budget allocation of $1.774 billion over four years so Kiwis are ...4 days ago
- Pharmac Chair appointedHon Paula Bennett has been appointed as member and chair of the Pharmac board, Associate Health Minister David Seymour announced today. "Pharmac is a critical part of New Zealand's health system and plays a significant role in ensuring that Kiwis have the best possible access to medicines,” says Mr Seymour. ...5 days ago
- Taking action on Fetal Alcohol Spectrum DisorderHundreds of New Zealand families affected by Fetal Alcohol Spectrum Disorder (FASD) will benefit from a new Government focus on prevention and treatment, says Health Minister Dr Shane Reti. “We know FASD is a leading cause of preventable intellectual and neurodevelopmental disability in New Zealand,” Dr Reti says. “Every day, ...6 days ago
- New sports complex opens in KaikoheRegional Development Minister Shane Jones today attended the official opening of Kaikohe’s new $14.7 million sports complex. “The completion of the Kaikohe Multi Sports Complex is a fantastic achievement for the Far North,” Mr Jones says. “This facility not only fulfils a long-held dream for local athletes, but also creates ...6 days ago
- Diplomacy needed more than everForeign Minister Winston Peters’ engagements in Türkiye this week underlined the importance of diplomacy to meet growing global challenges. “Returning to the Gallipoli Peninsula to represent New Zealand at Anzac commemorations was a sombre reminder of the critical importance of diplomacy for de-escalating conflicts and easing tensions,” Mr Peters ...6 days ago
- Anzac Commemorative Address, Buttes New British Cemetery BelgiumAmbassador Millar, Burgemeester, Vandepitte, Excellencies, military representatives, distinguished guests, ladies and gentlemen – good morning and welcome to this sacred Anzac Day dawn service. It is an honour to be here on behalf of the Government and people of New Zealand at Buttes New British Cemetery, Polygon Wood – a deeply ...1 week ago
- Anzac Commemorative Address – NZ National Service, Chunuk BairDistinguished guests - It is an honour to return once again to this site which, as the resting place for so many of our war-dead, has become a sacred place for generations of New Zealanders. Our presence here and at the other special spaces of Gallipoli is made ...1 week ago
- Anzac Commemorative Address – Dawn Service, Gallipoli, TürkiyeMai ia tawhiti pamamao, te moana nui a Kiwa, kua tae whakaiti mai matou, ki to koutou papa whenua. No koutou te tapuwae, no matou te tapuwae, kua honoa pumautia. Ko nga toa kua hinga nei, o te Waipounamu, o te Ika a Maui, he okioki tahi me o ...1 week ago
- PM announces changes to portfoliosPaul Goldsmith will take on responsibility for the Media and Communications portfolio, while Louise Upston will pick up the Disability Issues portfolio, Prime Minister Christopher Luxon announced today. “Our Government is relentlessly focused on getting New Zealand back on track. As issues change in prominence, I plan to adjust Ministerial ...1 week ago
- New catch limits for unique fishery areasRecreational catch limits will be reduced in areas of Fiordland and the Chatham Islands to help keep those fisheries healthy and sustainable, Oceans and Fisheries Minister Shane Jones says. The lower recreational daily catch limits for a range of finfish and shellfish species caught in the Fiordland Marine Area and ...1 week ago
- Minister welcomes hydrogen milestoneEnergy Minister Simeon Brown has welcomed an important milestone in New Zealand’s hydrogen future, with the opening of the country’s first network of hydrogen refuelling stations in Wiri. “I want to congratulate the team at Hiringa Energy and its partners K one W one (K1W1), Mitsui & Co New Zealand ...1 week ago
- Urgent changes to system through first RMA Amendment BillThe coalition Government is delivering on its commitment to improve resource management laws and give greater certainty to consent applicants, with a Bill to amend the Resource Management Act (RMA) expected to be introduced to Parliament next month. RMA Reform Minister Chris Bishop has today outlined the first RMA Amendment ...1 week ago
- Overseas decommissioning models consideredOverseas models for regulating the oil and gas sector, including their decommissioning regimes, are being carefully scrutinised as a potential template for New Zealand’s own sector, Resources Minister Shane Jones says. The Coalition Government is focused on rebuilding investor confidence in New Zealand’s energy sector as it looks to strengthen ...1 week ago
- Release of North Island Severe Weather Event InquiryEmergency Management and Recovery Minister Mark Mitchell has today released the Report of the Government Inquiry into the response to the North Island Severe Weather Events. “The report shows that New Zealand’s emergency management system is not fit-for-purpose and there are some significant gaps we need to address,” Mr Mitchell ...1 week ago
- Access to documents about Australia’s political history is fraught and inadequate. It needs to cha...
Source: The Conversation (Au and NZ) – By Joshua Black, Political Historian and Administrator Officer, Australian Historical Association, Australian National University Australia has had its fair share of public record-keeping controversies in recent years. Some have been mere farce, as in the case of two formerly government-owned filing cabinets (containing ...1 hour ago - Greens have 'historically bad' start to the year – political scientist
The party has had faced a challenging set of circumstances over the past five months, Lara Greaves says. ...2 hours ago - HWPL Calls For Peace Amid Rising Tensions Between Israel And Iran
Heavenly Culture, World Peace, Restoration of Light (HWPL), a United Nations-affiliated organization dedicated to fostering peace through civilian-led initiatives, has issued a statement in response to the escalating conflict between Israel and Iran. ...2 hours ago - The Friday Poem: ‘Mātou’ by Tessa Keenan
A poem by Tessa Keenan, from AUP New Poets 10. Mātou These days we are a photograph; one of a farm strewn with cows that used to be bright harakeke or swamp. The kids point at it and say the sun sits behind a smudge (left by someone at Christmas); ...2 hours ago - The Unity Books bestseller chart for the week ending May 3The only published and available best-selling indie book chart in New Zealand is the top 10 sales list recorded every week at Unity Books’ stores in High St, Auckland, and Willis St, Wellington. AUCKLAND 1 Small Things Like These by Claire Keegan (Faber & Faber, $25) The masterful Irish writer ...2 hours ago
- Marriages, Civil Unions, And Divorces: Year Ended Dec 2023Marriage and civil union statistics record the number of marriages and civil unions registered in New Zealand each year, and divorce statistics record the number of divorces granted in New Zealand each year. Key facts Marriages and civil unions In ...2 hours ago
- Marriages, Civil Unions, And Divorces: Year Ended December 2023Marriage and civil union statistics record the number of marriages and civil unions registered in New Zealand each year, and divorce statistics record the number of divorces granted in New Zealand each year. ...3 hours ago
- How effective are domestic violence advertising campaigns for preventing violence against women?Source: The Conversation (Au and NZ) – By David Waller, Associate Professor, University of Technology Sydney shutterstock Cristina RasoBoluda/Shutterstock Domestic violence is a significant personal, community and social issue attracting much attention. After several recent horrific cases, media discussion, calls for a royal commission to end the violence and ...3 hours ago
- Taiwan is experiencing millions of cyberattacks every day. The world should be paying attentionSource: The Conversation (Au and NZ) – By Lennon Y.C. Chang, Associate Professor of Cyber Risk and Policy, Deakin University Taiwan stands out as a beacon of democracy, innovation and resilience in an increasingly autocratic region. But this is under growing threat. In recent years, China has used a variety ...3 hours ago
- ‘There was life in the old girl yet’: Dame Susan Devoy on taking reality TV by stormIn this excerpt from her new memoir, Dame Susan Devoy remembers her turn as star contestant on the 2022 season of Celebrity Treasure Island. The most anxious time of every day was pre-elimination, when you knew this could be your final day on the show. I felt such contradictory emotions, ...3 hours ago
- Auditor-General criticises way University of Waikato contracted Steven JoyceJohn Ryan says the University of Waikato did not invite multiple contractors and reached out to the former finance minister directly. ...4 hours ago
- 'Not my first legal rodeo' – Winston Peters on defamation threatForeign Affairs Minister Winston Peters says he will not be cowed by threats of legal action, having received a legal letter from Bob Carr. ...4 hours ago
- Can the Green Party’s holy mission survive its fallible disciples?A week that began in triumph ended in an all-too-familiar disaster for the Green Party. Duncan Greive asks if there’s something in the mission that breaks its best and brightest. A long, strange week for the Green party began with a fantastic poll result. On one level this is hardly ...5 hours ago
- Vanuatu’s Kalsakau resigns, calls for delay on constitutional referendumBy Lydia Lewis, RNZ Pacific journalist Vanuatu’s former prime minister and opposition MP Ishmael Kalsakau has stepped down — just two days after he confirmed he was the rightful opposition leader. Kalsakau, MP for Port Vila, confirmed to ABC’s Pacific Beat, and the Vanuatu Daily Post on Thursday that he ...5 hours ago
- Winston Peters gives China speech amid legal drama and AUKUS questionsThe Foreign Minister spoke about the NZ-China relationship amid lingering questions about the AUKUS security alliance . ...5 hours ago
- Gone By Lunchtime: Mojo machine misfires, honeymoon cancelledWhat’s to blame for the coalition’s choppy start? Six months in, and the mojo meter is in the doldrums. A new poll would put National out of power and sees its leader, Chris Luxon, sliding in popularity. How much is it about policy, how much coalition management and a perception ...5 hours ago
- The Waitangi Tribunal’s latest report is about far more than just child protectionThe striking report goes far beyond the proposed repeal of the Oranga Tamariki Act’s Treaty of Waitangi provision, and its impact should be felt far beyond the unique circumstances of the claim it addresses. Earlier this week, the Waitangi Tribunal released an interim report on the government’s proposed repeal of ...6 hours ago
- Live Winston Peters gives China speech amid legal drama and AUKUS questionsThe Foreign Minister was speaking at the New Zealand China Council while questions linger about the AUKUS security alliance . ...6 hours ago
- 'We weren't informed': Apprentice working on school unaware of asbestosThe Education Ministry is promising to do more about asbestos problems in schools, with tighter controls over detection and removal. ...7 hours ago
- New Treasury Paper On The Productivity SlowdownThe world has been experiencing a productivity slowdown, from which New Zealand has not been exempt. COVID-19 temporarily boosted labour productivity, but more recently, productivity has retreated. The overall trend since 2007 has been one of slow productivity ...7 hours ago
- The prison slushy story is back, baby, and it’s less nutritious than everWhat’s more wasteful than spending $315k on syrup and machine maintenance? Trying to drum up a controversy about it. Cast your mind back to the pre-pandemic idylls of 2019. A “rat” was a disgusting rodent and not a self-administered plague test; the sixth Labour government was in power; and the ...7 hours ago
- AI can now generate entire songs on demand. What does this mean for music as we know it?Source: The Conversation (Au and NZ) – By Oliver Bown, Associate Professor, UNSW Sydney PeamDesign / Shutterstock In March, we saw the launch of a “ChatGPT for music” called Suno, which uses generative AI to produce realistic songs on demand from short text prompts. A few weeks later, a ...8 hours ago
- Domestic violence disclosure schemes may not improve safety for victim-survivors of intimate partner...Source: The Conversation (Au and NZ) – By Kate Fitz-Gibbon, Professor of Social Sciences, Faculty of Arts, Monash University, Monash University Ken stocker/Shutterstock In the wake of numerous killings of women allegedly by men’s violence in 2024, thousands of Australians have joined rallies across the country to demand action ...8 hours ago
- Clearing the elective surgery backlog will take more than one budget. It’ll need major reformSource: The Conversation (Au and NZ) – By Henry Cutler, Professor and Director, Macquarie University Centre for the Health Economy, Macquarie University Oleg Ivanov IL/Shutterstock Waiting times for public hospital elective surgery have been in the news ahead of this year’s federal budget. That’s the type of non-emergency surgery ...8 hours ago
- Why is cancer called cancer? We need to go back to Greco-Roman times for the answerSource: The Conversation (Au and NZ) – By Konstantine Panegyres, McKenzie Postdoctoral Fellow, Historical and Philosophical Studies, The University of Melbourne Amna Artist/Shutterstock One of the earliest descriptions of someone with cancer comes from the fourth century BC. Satyrus, tyrant of the city of Heracleia on the Black Sea, ...8 hours ago
- Electric vehicles will start to cut emissions and improve air quality in our cities – but only onc...Source: The Conversation (Au and NZ) – By John Rose, Professor of Sustainable Future Transport, University of Sydney LanaElcova/Shutterstock Electric vehicles are often seen as the panacea to cutting emissions – and air pollution – from transport. Is this view correct? Yes – but only once uptake accelerates. Despite the ...8 hours ago
- 4 things our schools should do now to help prevent gender-based violenceSource: The Conversation (Au and NZ) – By Giselle Natassia Woodley, Researcher and Phd Candidate, Edith Cowan University There is widespread agreement Australia needs to do better when it comes to gender-based violence. Anger and frustration at the numbers of women being killed saw national rallies over the weekend and ...8 hours ago
- Becoming a landlord while still renting? ‘Rentvesting’ promises a foot on the property ladder, b...Source: The Conversation (Au and NZ) – By James Graham, Lecturer in Economics, University of Sydney Mark and Anna Photography/Shutterstock As home ownership moves further out of reach for many Australians, “rentvesting” is being touted as a lifesaver. Rentvesting is the practice of renting one property to live ...8 hours ago
- Season two of Heartbreak High makes diversity feel ‘banal’. This is its strengthSource: The Conversation (Au and NZ) – By Sukhmani Khorana, Associate Professor, Faculty of Arts, Design and Architecture, UNSW Sydney Netflix The new season of Heartbreak High is garnering mixed reviews. Critics are writing about the racy story lines, comparing it to other coming-of-age series about teenage relationships and ...8 hours ago
- Winston Peters receives legal letter from Bob Carr after defamation threatBob Carr has confirmed his intention to take legal action against the NZ First leader. ...8 hours ago
- Legal action and bullying allegations: Peters and Genter knock government agenda off its perchBob Carr intends to launch legal action against Winston Peters and Julie Anne Genter is facing a second allegation of bullying. Both sucked the air out of an announcement on education, writes Anna Rawhiti-Connell in this excerpt from The Bulletin, The Spinoff’s morning news round-up. To receive The Bulletin in ...8 hours ago
- New law looks to shake up insuranceThe Minister for Commerce and Consumer Affairs says insurance laws are too complicated and change is long overdue. ...8 hours ago
- Winston Peters' comments about former Australian minister 'unstatesmanlike' – L...David Parker says he has never heard a current minister speak about a senior, retired politician from another country in such a way. ...8 hours ago
- Where is she now? Sally Clark
In 1995, Sally Clark went out on her own in a bold and unorthodox attempt to join an illustrious group of equestrian riders conquering the world. In the days of glovebox road maps, brick cell phones, and the hit song How Bizarre, Clark refused to follow Sir Mark Todd, Blyth ...9 hours ago - Despite a tenfold increase in ADHD prescriptions, too many New Zealanders are still going withoutSource: The Conversation (Au and NZ) – By Ben Beaglehole, Senior Lecturer, Department of Psychological Medicine, University of Otago niphon/Getty Images The number of people accessing medication for attention-deficit hyperactivity disorder (ADHD) in Aotearoa New Zealand increased significantly between 2006 and 2022. But the disorder is still under-diagnosed and ...10 hours ago
- Pay equity taskforce disbanded, 'no longer required' – MinisterThe government is being accused of "misdirected priorities" after it disestablished the pay equity taskforce. ...11 hours ago
- How bad at reading are New Zealand children?There are more bad readers among our 10-year-olds, but the picture has improved for teenagers, international testing has found. ...11 hours ago
- Knocked Up, American Pie, the Bean movie: A brief history of NZ music in Hollywood To celebrate the start of New Zealand music month, we look back at the best local tuneage that managed to weasel its way into Hollywood productions. There’s nothing quite like the thrilling zap of recognition when New Zealand weasels its way into a glamorous Hollywood production. Crack open a Tui ...11 hours ago
- Why I told a cop about my lasagne and what it’s got to do with the mediaPeople trust other people more than institutions. So how can the media gain that trust through journalists without losing what’s important about the institution? Anna Rawhiti-Connell reflects on two years of curating the news for The Bulletin. Amonth ago, armed cops descended on my neighbourhood as calls to “lock your ...11 hours ago
- Low levels of ‘forever chemicals’ doesn’t mean we can wash our hands of themOpinion: PFAS – per- and polyfluoroalkyl substances – are a class of thousands of man-made chemicals used widely in everyday consumer items such as textiles, packaging, and cookware, popular for their water, grease and stain-repellent properties. However, the very properties that make PFAS so attractive to manufacturers are also what ...11 hours ago
- This week’s biggest selling books – May 3NONFICTION 1 The Last Secret Agent by Pippa Latour & Jude Dobson (Allen & Unwin, $37.99)’ This is the hottest book in New Zealand, number one with a bullet in its first week, selling more than any overseas title, and demand is so huge that it’s already been reprinted. A ...11 hours ago
- Newsroom daily quiz, Friday 3 MayLoading…(function(i,s,o,g,r,a,m){var ql=document.querySelectorAll('A,DIV,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 3 May appeared first on Newsroom. ...11 hours ago
- Daily crossword, Friday 3 MayThe post Daily crossword, Friday 3 May appeared first on Newsroom. ...11 hours ago
- A cry of help for the James Bond of the bird worldSecretive and shy, the nationally critical, native bitterns are on the edge in Canterbury, a researcher says The post A cry of help for the James Bond of the bird world appeared first on Newsroom. ...11 hours ago
- Drama as the knife hovers over Kiwi soapA warning – suicide is discussed in this podcast New Zealand’s own long-running soap Shortland Street doesn’t hesitate to kill off its much-loved characters. But would TVNZ dare to kill off our favourite soap? That’s the fear as times get tough in television – even though it’s been pointed out ...11 hours ago
- Fast-track bill is a lolly scramble for deep-pocketed applicantsOpinion: There’s nothing transparent about the fast-track bill despite what ministers say The post Fast-track bill is a lolly scramble for deep-pocketed applicants appeared first on Newsroom. ...11 hours ago
- Electoral donations under the microscope with full disclosure imminentGovernment consenting and fisheries policy has seen large donations and those directly to MPs scrutinised – full donations will be released as soon as Friday The post Electoral donations under the microscope with full disclosure imminent appeared first on Newsroom. ...11 hours ago
- Fire and Emergency payroll plan scrapped after spending $29mAfter three years and millions of dollars, Fire and Emergency’s payroll replacement project is back to square one The post Fire and Emergency payroll plan scrapped after spending $29m appeared first on Newsroom. ...11 hours ago
- The Crown versus Māori ChildrenEssay: If the Crown harms children, how do you hold it accountable? Analysis by Aaron Smale in light of the Waitangi Tribunal court decision. The post The Crown versus Māori Children appeared first on Newsroom. ...11 hours ago
- OPM’s Bomanak accuses UN of failing to uphold decolonisation role over West PapuaAsia Pacific Report A West Papuan resistance leader has condemned the United Nations role in allowing Indonesia to “integrate” the Melanesian Pacific region in what is claimed to be an “egregious act of inhumanity” on 1 May 1963. In an open letter to UN Secretary-General António Guterres, Organisasi Papua Merdeka-OPM ...16 hours ago
- Grattan on Friday: O’Neil and Giles dodge the spotlight shining on blunders over ex-detaineesSource: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra A key part of the Albanese government’s political strategy is to fill the news cycle with its presence and messaging. Ministers are deployed to the maximum, even when they’ve little to say. This week ...17 hours ago
- Bob Carr confirms intention to launch legal action against Winston PetersCarr has confirmed his lawyers have written to Peters, informing him they intend to launch legal action against him. ...18 hours ago
- A lot to learn from kura kaupapa Māori – Education MinisterDespite low literacy rates in mainstream schools amongst Māori, the results are the complete opposite in kura kaupapa, Stanford says. ...18 hours ago
- Julie Anne Genter: Greens had 'no prior knowledge' of fresh complaint against MPA florist says she felt intimidated during a heated exchange with the MP. ...20 hours ago
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Only a bunch of pillocks would believe that a miniscule surplus in two year’s time is a sign we have reached nirvana.
You never know, the way they are going it may occur, but at that time people can look around and see what a fecked up place New Zealand has become and they will then wonder why they let a bunch of tight arsed cost accountants wreck the country.
Only then it will be too late. There will be a mass of unemployment and misery and New Zealand will be stuffed.
Only a surplus of $4B+ without (further) gutting of the social safety net and other provisions in this country is anything to be particularly happy with.
The government claiming a surplus of $200m is pretty much useless because they’re just going to spend all of it any way. It’s only ‘truly’ a surplus if it isn’t spent and is therefore used to pay back lending, exactly as Cullen did.
Unfortunately both labour and national buy into these 2 govt agencies. Remember the election last year where both parties were engaged into making us believe that they could achieve in 2014 a surplus, both parties depended upon creating 170,000 jobs. That was never going to happen and any govt surplus was for me a display that neither party had any idea on our economy.
Get your facts right little hero…….labour were stating repeatedly that the return to surpluses under their policies was going to be at least a year after the nats said they would… (which has now proven to be a fiction considering the insane policy program they have now “uncovered” as their true intentions)…..
can you show anyone where, and when, the labour party Ever mentioned creating 170,000 jobs?
I know you can’t…..You know you can’t….. stop telling silly lies…. you insult peoples intelligence at the same time as exposing your utter lack of moral fibre….
I could assume you are thick enough to think no-one would spot the obvious attempt at transference,
but i don’t need to assume that… the proof is on the page right there…..
There is one answer. For goodness sake, support the Greens!!
There is some delicious irony in the Natz goal of getting a surplus, any surplus, when they bashed the crap out of Michael Cullen for running a surplus and paraded it as evidence that taxes were too high and needed to be cut.
Guess surpluses look better when you are being forced to borrow shitloads of money from overseas and pay interest on it because you put a giant fucking hole in the country’s tax revenue in the midst of a global financial crisis.
So true Blue English and Key use to wail when Cullen used the surplus to pay back debt. Tax cuts tax cuts they cried, now what do they do but give tax cuts thats created debt. So much for good economic management, they are a very sick joke that only cause pain.
Government debt never reduced !!! So then debt was NOT repaid. Govt debt remained around $37b
Just another case of “if you keep telling a lie that it becomes accepted as truth.”
What on earth are you on about?
http://www.stuff.co.nz/national/politics/6957341/Labour-cops-debt-blame
Even Fairfax has shown that crown debt reduced under Labour.
In 2008, gross debt was 17.2% of GDP, net debt was 5.6% of GDP, and core crown debt was $10.3b
In 2002, after one term of Labour govt, those numbers were 28.8%, 20.0% and $25.3b.
In 2011, after one term of National govt, we have a gross debt 36.2% of GDP, net debt of 20.0% of GDP, and core crown debt of $40.1b.
If you are still willing to pin that one on Labour/Cullen, ask yourself this: Did Labour introduce big spending programs like interest-free student loans and WFF? Yeah, they did. Did National keep those programs while slashing the taxes that paid for them? Yeah, they did. Who then is responsible for the debt?
http://www.johnpemberton.co.nz/html/new_zealand_government_debt_eom.html
And this link showing the govt debt, notice the flat line No sign of any reduction !!
Craig net debt may have reduced but not gross. And thanks to some magi al accounting treatment even net debt quoted is questionable, the value of student loans (currently $14b, yet from winny peters only about 50% is collectable) the value of fines outstanding. The one thing that is known is the liabilities will not become less than reported in the govts balance sheet
The value of fines outstanding ???
Did you slip on the ice this morning
Within the govt accounts such items as outstanding parent support payments outstanding fines and penalties are included. Even though the ability to collect these has doubt
Try this then but change the parameters that default. Funny how Dent remained constant
http://www.rbnz.govt.nz/statistics/extfin/e3/data.html