Where has the surplus gone?
Despite the headlines, the latest set of crown accounts are not as bad as some are saying. This is because the important figure is the one called OBEGAL, formerly OBERAC. This is the measure of the...
View ArticleSo jubiliant over a $4 billion writedown
It was fascinating to observe Dr Cullen on the news last night. He seemed jubilant and happy. Could almost not restrain his glee. And what was he celebrating? A drop in the Government’s surplus of $4.2...
View ArticlePaula gets through the spin
Some astute analysis by Paula Oliver in the Herald: Dr Cullen is arguing his tax cuts will meet four carefully worded tests he has thrown into the media – they won’t require borrowing, they won’t...
View ArticleA good Labor budget
Oh I so envy Australia for its luck in having a more moderate less extreme and idelogical Labor Party. Let us look at what Wayne Swan has delivered. Australia’s population is around five times New...
View ArticleHe’s spent it all!
Dr Cullen’s ninth and probably final budget is a cunning political device but economically risky and most of all incredibly hypocritical. The entire budget is designed for one and one purpose only – to...
View ArticleEnglish Conference Speech
Bill English delivered a well received speech on the economy to the conference. The key focus will be his comments on debt, so I’ll deal with them at the end and cover the other stuff first. First his...
View ArticlePREFU: Ten years of deficits
The PREFU is far worse than anyone could imagine. Thank God St Ruth and National changed the law in 1994 to force the Government to open the books up before an election – otherwise it would be a repeat...
View ArticleClik here to view.
Armstrong on PREFU
John Armstrong does a nice summary: It was only a few short weeks ago that Bill English was saying he wasn’t going to be spooked by a little bit of red ink in the Government’s accounts. The Treasury’s...
View ArticleThe economy
News that the Reserve Bank of Australia has dropped their official cash rate by a huge 100 basis points gives some inidcation of how weak various economies are. NZIER released their quarterly survey of...
View ArticleLabour’s financial legacy
At Backbenches last night, Charles Chauvel said that Labour has left National a very good set of accounts with lots of money, and would be making sure they looked after it. This caused some...
View ArticleCrown accounts to 31 March 2009
Treasury released yesterday the crown accounts for the first nine months of this financial year. Here’s the differences between what Labour projected in the PREFU and the reality six months later: Tax...
View ArticleLabour’s final accounts
Treasury has just published the crown accounts for the year ending 30 June 2009. This is basically the last set of accounts for the Labour Government, even though the new Government will have had some...
View ArticleFaster surpluses needed
Brian Fallow reports: The Treasury is calling for a swifter return to fiscal surpluses than last May’s Budget envisaged, even as the Finance Minister warns of higher deficits in the short term....
View ArticleTalk is easy
The Herald reports: The one thing alternative finance minister, Labour’s David Parker, won’t be criticising in tomorrow’s Budget is the Government’s confirmation that it is on track to return to...
View ArticleWatkins on economy
Tracy Watkins writes: It speaks volumes about David Cunliffe’s bad week that on the day John Key delivered his pre-Budget speech, it was the Labour leader who copped it on the street over the...
View ArticleLabour claims surplus a fake!
Stuff reports: Labour has questioned whether the Government is keeping money from Canterbury’s earthquake recovery to improve this week’s budget. The Government has already confirmed just under $1...
View ArticleHow about tax cuts Treasury, instead of jam jars?
Vernon Small at Stuff reports: Treasury is working on a radical plan to set up a new “jam jar” fund to hold extra tax revenue to smooth income variations. It says the “stabilisation fund” could operate...
View ArticleGreens claim they will run bigger surpluses – yeah right
The Herald reports: Prime Minister John Key has taken a shot at Green Party co-leader Russel Norman, saying he must have been smoking dope to believe the Greens could pay off debt faster than National....
View ArticleClik here to view.
Issues that matter – the Economy
I think the economy matters and should be a much bigger issue in this election so I’ve put together almost a dozen graphs showing the difference between National and Labour’s record on 11 important...
View ArticleSurplus at risk
Stuff reports: A plunge in the payout to dairy farmers could put pressure on the government’s target of reaching surplus this year, Prime Minister John Key warned today. Last week, Fonterra slashed its...
View Article
