Scoop's Budget 2007 Coverage

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BUDGET 2007 - SCOOP COVERAGE & COMMENTARY
Budget 2007: Images and Audio From Inside The Lock-Up

scoop image: michael cullen

Sludge Report: Save Some - GET MORE!!!


This morning in the wake of such comprehensive signaling of what to expect the pre-lockup working title of the Budget 2007 commentary had been "no surprises". Afterall we knew he was going to lower the company tax rate and grant savings incentives. But after a few hours locked up with what seems to be an alarming number of media and economists the conclusion has to be that this budget is significantly more interesting than expected. And lots of the interesting stuff is in the detail. More >>




Keith Rankin: NZ's 2007 Budget and the Overvalued Dollar - One of the biggest questions that arises from this budget is what impact, if any, will it have on our number one economic problem in 2007, the chronically overvalued exchange rate. The Budget had no impact on the exchange rate on Budget Day (17 May). ... See... More >>

Molesworth & Featherston: Budget 2007 May Surprise - Michael Cullen has unveiled a budget more substantial and containing more surprises than anyone guessed. See... More >>

Transtasman Political Letter - Budget Special - Obscure MP quits his party, shakes the Govt, but Clark says it's business as usual... Cullen's eighth budget could be economically brilliant and politically cunning, but will it impress the punters?... Public disquiet on policing and justice systems ... See... More >>

Scoop Satire: Budget Crisis - Lack of Nickname - Concern is mounting in political and media circles that Michael Cullen's latest budget may not receive a proper nickname. This puts media coverage of an important economic issue in jeopardy and raises the terrifying possibility that no part of the Government's spending programme for the next twelve months will be able to be summed up with throwaway catchphrases. More >>

Employers: Poll Says Business backs Budget - The first poll of business decision makers on last week's Budget shows the majority support moves to require employers to match staff contributions to KiwiSaver. They also support the new 10 cents a litre regional fuel tax, and don't favour immediate personal tax cuts, specially if they lift interest rates. However, they don't think it will close the gap between personal incomes in Australia and New Zealand. More >>


State Of It: Cullen's Burden - Budget 2007


Scoop co-editor Selwyn Manning writes:
The burden Michael Cullen carries into Budget 07 is the dilemma: how to deliver to Labour's historical constituency at a time when political pragmatism insists Labour must seduce center/centre-right voters. That burden has now caused much debate within the Labour Party, factions are dividing, and its angst is showing in the polls. The New Zealand Labour Party now faces the same conundrum that the Australia Labor Party (ALP) faced under the Beazly and Latham leaderships: how to win back support from those who have benefited from past Labour policies but who now demand centre-right economic policies as an assurance their wealth will continue to grow. More >>

    Also Pre-Budget Analysis:

  • (95bFM Audio): The Wire Cullen's Burden: Paul Deady and Scoop's Selwyn Manning discuss why Michael Cullen is being laden with this Budget 07 burden. Really, should we demand tax cuts? What's it all about then?


Pre-Budget Wobbles: UF Lose MP Who Played 'Cat and Mouse Game' In a stage-managed exit United Future MP Gordon Copeland announced he was resigning from his party today but would be staying on in Parliament as an independent MP. More >>


BUDGET 2007: HEADLINES

RELATED LINKS:For the full text (when released) of the budget see...
TREASURY BUDGET 2007 WEBSITE
See also the BEEHIVE BUDGET PAGE

For previous budgets see...
BUDGET 2006 - BUDGET 2005 - BUDGET 2004 - BUDGET 2003 - BUDGET 2002 - BUDGET 2001 & BUDGET 2000

BUDGET 2007 - POST BUDGET DAY DEVELOPMENTS


BUDGET 2007 - THE REACTION - FULL COVERAGE


Budget Reaction: Poll: Public Verdict Firms On Budget Measures



A rolling nationwide poll shows New Zealanders' verdict on the Budget is firming, with 64% support for company tax cuts and 77% support for KiwiSaver tax credits. These are among the results of a nationally representative online poll being conducted by the independent ShapeNZ panel. The results cover 629 respondents at 5.33am today. Results are weighted by age, gender, personal income and party vote in 2005, and are accurate to within plus or minus 2%. The second interim snapshot shows public opinion firming: 64% agree with the move to cut the company tax rate from 33 to 30% More >>

BUDGET DEBATE SPEECHES - AS PREPARED
  • NZ Govt - Cullen: Budget Speech
  • NZ Govt - PM: A sustainable future for New Zealand
  • Maori Party - Sharples: Budget Speech
  • Maori Party - Flavell: The Budget; The Treaty and Reconciliation
  • ACT - Rodney Hide: Speech in reply to the Budget 2007
  • Budget 2007 Speech - Jeanette Fitzsimons
  • Peters' speech in response to Budget 2007


  • SELECTED BUDGET DEBATE SPEECHES- AUDIO AS DELIVERED

    Parliamentary Reaction:

    Labour
  • Budget 07 recognises vital role of NZ's "Backbone"
  • Young Labour - Future is secure and fruitful under Labour
  • Levy combats harm from problem gambling
  • NZ Govt - Clark: Akld Chamber of Commerce Post-Budget
  • NZ Govt - Cullen: The right Budget for these times
  • NZ Govt - Up to 150km to be added to Te Araroa Walkway
  • NZ Govt - Budget invests in young New Zealanders
  • Budget 2007 – dealing with today and tomorrow
  • NZ Govt - New funding to step up fight against tobacco


  • National
  • National - Money-go-round Budget fails to deliver
  • National - Carbon neutrality – where is it?
  • National - Labour tackles crime by building lavish courthouse
  • Govt spending keeps interest higher for longer
  • National - Money-go-round Budget fails to deliver
  • National - Key Notes: Labour's Money-go-round Budget
  • National - Labour adopts National’s charities policy
  • National - Tax on petrol so Cullen can keep spending
  • National - More smoke and mirrors over ‘20 hours free’
  • National - Pansy Speak: More surpluses - more taxes
  • National - www.mccully.co.nz - 25 May 2007
  • National - NewsWorthy: The aftermath of the budget



  • Progressive Party
  • Progressive Party - Progressive Party bids do well in Budget 2007
  • Budget provides a boost for primary industries
  • Robson-on-Politics: Budget 2007 Special


  • Greens
  • Green Party - Teensy-weensy steps towards sustainability
  • Cullen buckles on ethical investment guidelines


  • The Maori Party
  • Turia - Taxation Bill
  • Flavell - Taxation Bill


  • NZ First
  • NZ First - Peters Welcomes Progress on Savings
  • NZ First - Mark Urges Caution On Youth Offending Funding
  • NZ First - Business Tax Cut And R&D Spending A Boost
  • NZ First Imprint On Budget Clear
  • NZ First Delivers Healthcare For Young Kiwis
  • NZ First Secures Funding Increase In Eldercare
  • Maori Wardens Funding Breakthrough
  • National Needs to Come Clean Over Kiwisaver


  • ACT
  • Heather Roy's Diary


  • United Future
  • United Future - United Future's Budget triumphs
  • United Future - Budget Comments
  • United Future - Turner: Students still treated as Children
  • Deer, chamois, tahr and pigs get $200 000
  • United Future Budget Comments
  • Turner: Students still treated as Children
  • Immediate payoff for Budget charities move
  • Dunne: Not-for-Profit Special Interest Group


  • NZ Government (Reaction To Reaction)
  • Key wrong on KiwiSaver
  • Māori Party Should Come Clean on the Budget
  • Regional fuel taxes will benefit all road users
  • National votes against KiwiSaver


  • Non Parliamentary Political Reaction:
  • Retirement Commissioner - KiwiSaver now an easier choice says Commissioner
  • University of Auckland - Changes to KiwiSaver unfortunate
  • Democrats for Social Credit - Cullen’s eighth blunder of the world
  • www.republicans.org.nz - Budget Squanders our Economic Potential.
  • Waitangi Tribunal - A substantial funding increase for the Tribunal
  • NZ Council of Christian Social Services - Bureaucracies may undermine Budget intent
  • Institute of Public Policy - Institute applauds charitable tax review


  • Health Sector Reaction:
  • NZMA - Health Given Low Priority In Budget
  • Access To Medicines NGO - Budget disappointing for medicines access
  • Mental Health Commission - Commission welcomes primary health care funding
  • Cancer Society - Budget welcomed, but not enough has been done


  • Education Sector Reaction:
  • NZEI - Increased Funding For Education Good
  • PPTA - PPTA on Budget 2007: A tick and two crosses
  • AUS - AUS Tertiary Update, 17 May 2007
  • Vice Chancellors' Committee - Budget: No Surprises For Universities
  • Industry Training Fed - Industry training investment out of step
  • NZ Childcare Association - Funding increases for early childhood education
  • NZ School Trustees Association - Some relief for schools funding – but no rejoicing
  • Kindergartens Inc - Kindergarten Welcomes Free Funding Increase
  • Auckland University Students Association - Auckland students welcome modest Budget crumbs
  • New Zealand University Student's Association - Student Debt Funds Budget Surplus
  • New Zealand Principals' Federation - Budget ‘07: Where is the Rest?


  • Union Reaction:
  • CTU - Budget 2007: Making the Kiwi Fly
  • Finsec - Banks some of the biggest beneficiaries
  • Public Service Association - PSA Welcomes Compulsory Employer Contributions
  • New Zealand Council of Trade Unions - Investment Budget, But Employers Need To Invest To
  • Engineering Printing and Manufacturing Union - EPMU welcomes incomes-boosting budget
  • Council of Trade Unions - Industrial Strife? Pull The Other One!
  • Council of Trade Unions - Union support for Kiwisaver overwhelming
  • Public Service Association - Disabled Support Funding Needs To Go To Caregivers


  • Business Sector Reaction:
    Scoop News: Employers Say Cullen Gives With One Hand... - Businesses will not benefit from the 2007 budget as the Government gives with one hand and takes with the other. The Government was praised for the business tax reductions outlined in the budget. However the employer contributions for the KiwiSaver scheme, which is compulsory for employers to offer, will in effect cost companies more than the tax cut received. More >>
  • NZBR - How to Future-Proof New Zealand
  • NZBR - NZBR: How to Future-Proof New Zealand
  • NZBR - Focus on Productivity and Growth Missing in Budget
  • Federated Farmers - Budget 2007 A Mixed Bag
  • EMA - Business $1 billion worse off
  • Auckland Chamber of Commerce - A Budget for the Long Term…
  • Auckland Chamber of Commerce - Transport – Another Step Forward
  • SBN - Commitment To Business Sustainability Welcomed
  • NZ Bio - NZBio welcomes R&D tax incentives
  • Fundraising Institute - Government nurtures generosity
  • Business NZ - Tax cut great but some big negatives
  • Auckland Chamber of Commerce - Research And Development Boost – Badly Needed
  • Auckland Chamber of Commerce - SMES And Low Earners Miss Out?
  • Auckland Chamber of Commerce - Business Tax Reform – Long Overdue
  • Wellington Regional Chamber of Commerce - Tax Reform is Welcome but More Needed
  • IPENZ Engineers - Budget will heighten skilled engineer shortages
  • Debt Management Office - Government’s domestic debt programme for 2007/08 Announced
  • NZCID - Budget's transport package is an investment
  • AA - Fuel Tax Commitment Great News For Motorists
  • ARTA - 21st century public transport for Auckland
  • Sustainable Living - Sustainable Living In NZ Just Got Easier
  • RNZ - Radio New Zealand Budget Funding
  • REINZ - REINZ Urges Government To Cut Taxes
  • Fonterra - Increase In Research Funding Welcome
  • CMA - Budget 2007 – too little, and maybe too late
  • NZFVWO - Budget a triumph for sector advocacy
  • Assn CRI - Creating an R&D culture
  • BNZ Weekly - BNZ Weekly Overview: Budget Edition
  • ING NZ Ltd - Budget increases attractiveness of savings
  • Mercer - Mercer Welcomes Budget Boost To Kiwisaver
  • Staples Rodway - Tougher action of property speculation questioned
  • PricewaterhouseCoopers - PriceWaterHouseCoopers Budget 2007 Tax Analysis
  • CPA Australia - CPA Australia rates Budget as positive overall
  • PricewaterhouseCoopers - PricewaterhouseCoopers on The 2007 Budget
  • Deloitte - Research & Development Tax Credits Get Go-Ahead
  • Export New Zealand - Slim pickings for exporters in 2007 Budget
  • Chapman Tripp - Budget tax amendment unconstitutional
  • Wellington Chamber Of Commerce - WCOC: Comments to Dr Michael Cullen
  • Tower - We do take responsibility for our KiwiSavers
  • Federated Farmers - Farmers Opposed to Subsidising Public Transport
  • Business New Zealand - KiwiSaver rules could bring more industrial action
  • Wellington Regional Chamber of Commerce - Regional Fuel Tax must not Slow Progress
  • BNZ - BNZ Weekly Overview - May 24 2007


  • Local Government Reaction:
  • Auckland City Council - Mayor says it's a momentous day for Auckland
  • North Shore City Council - PT-tagged fuel levy is FAB for Shore
  • Manukau City Council - Budget 2007: Electrification a big step forward
  • Trevor Crosbie - Cullen Fails Future Generations
  • No More Rates - New fuel tax adds to increased costs
  • Local Government NZ - Regional fuel tax first step, more assistance reqd
  • Association of Rationalists and Humanists - Taxpayers subsidise churches


  • Other Reaction
  • World Vision - NZ's largest aid agency applauds budget move
  • Unicef - Parlt Congratulated for Putting Children First
  • Philanthropy New Zealand - Government encourages generosity
  • Family First Lobby - Budget Offers No Assistance to Family Budget
  • Age Concern - More funding for older peoples' services welcome
  • Age Concern - Budget leaves some elder abuse victims unsupported
  • Republic Of NZ Party - Contempt of the People of New Zealand
  • Republic of NZ Party - Not a Representative House
  • Salvation Army - Budget 2007: Sallies welcome charitable giving
  • ComVoices - Removal of Cap on Giving is a Bold Move
  • Commissioner For Children - Commissioner wants more integrated investment
  • Gambling Helpline - Certainty from Problem Gambling Levy Regulations
  • Volunteering New Zealand - Improvements to tax treatment for volunteers
  • SOIL and HEALTH Assn of NZ - Dinosaurs Must Stop Robbing Sustainability Budgets
  • Te Putahi Paho - Extra funding for Māori TV, Radio Welcomed
  • Coastguard - Govt not interested in keeping Coastguard Afloat
  • Institute of Public Policy - Institute of Public Policy applauds tax review


  • BUDGET 2007 - THE PRESS KIT
    (Note see also pre-budget announcements below)


    The Budget Speech
  • Cullen: Budget Speech


  • Coalition Leaders' Statements
  • NZ First - Peters Welcomes Progress on Savings
  • United Future - United Future's Budget triumphs


  • SUMMARY SHEETS
  • Budget 2007: Executive Summary


  • Economy
  • Budget 2007: Saving and investing
  • Budget 2007: Investing in sustainable business
  • Business Tax Reform - Fact Sheets
  • Business Tax Reform - int'l tax fact sheet
  • Company tax rate change - Q And A
  • $3.4 billion for investment and innovation
  • Budget 2007: International tax review - Q&As
  • Encouraging a more skilled workforce
  • SUMMARY: Investment leadership sustainability
  • Budget 2007: $40 a week to support saving
  • Budget 2007: KiwiSaver - General Q&A
  • Budget 2007: Employers - Fact Sheet
  • Budget 2007: Savers - Fact sheet
  • Budget 2007: Savings tax rate - Q&A
  • Budget 2007: Snapshot of KiwiSaver


  • Education
  • Budget 2007: Funding boost for kōhanga reo
  • Budget 2007: Supporting tertiary students
  • Budget 2007: Tertiary sector primed for future
  • Budget 2007: Extra teachers & schools


  • Welfare
  • Older New Zealanders secure big gains
  • Fact Sheet: Providers of superannuation schemes


  • Health
  • Improving health outcomes for Māori
  • Budget 2007: Funding to expand drug buying
  • Budget 2007: Healthy confident young Kiwis
  • Budget 2007: Focus on healthy active lifestyles


  • Housing
  • Helping Kiwi households towards sustainability
  • First steps towards shared equity scheme
  • Support for successful housing programmes
  • Budget 2007: Action on property speculation
  • Budget 2007: Warmer, healthier homes investment


  • Law, Order & Security
  • Budget 2007: Supreme Court addition to NZ heritage


  • Research, Growth And Innovation Framework
  • Budget 2007: Big research investment to transform
  • Budget 2007 Summary: Economic Transformation
  • Budget 2007: R&D tax credit Q&A


  • Art, Culture And Sport
  • Budget 2007: New Zealand Poet Laureate Award
  • Nationhood celebrated via film, music & heritage
  • Budget 2007: Boost for public broadcasting
  • Fostering a culture of charitable giving
  • Budget 2007 SUMMARY: National Identity
  • Budget 2007: Natlib. digital content expansion
  • Budget 2007: Investing in our stories
  • Budget 2007: Funding support for digital archives


  • Trade and Foreign Affairs
  • Budget 2007: Supporting firms in offshore markets
  • Budget 2007: Boost for NZs international presence


  • Other Stuff - Maori, State Sector, Local Govt
  • Budget 2007: Funding for transport improvements
  • Budget 2007: Driving land transport investment
  • Budget 2007: Strong families a top priority
  • Promoting strong community relationships
  • Support for vital conservation work
  • Budget 2007: Investing in a sustainable future
  • Budget 2007: Towards a sustainable rail network
  • Budget 2007: Families, Young and Old - Summary
  • Budget 2007: Promoting healthy NZ families
  • Budget 07: Extra funding to support Māori wardens
  • Budget 2007: Safeguarding whānau
  • Budget 07: Waitangi Tribunal gets funding increase


  • BUDGET 2006 PREVIEWS


    PRE BUDGET 2006 GOVT. ANNOUNCEMENTS


    PRE BUDGET GOVERNMENT RELEASES:

    Financial Statements of the Govt to 31 March 2007


    nz aidBudget: Peters announces major increase in aid - Significant aid increases in Budget 2007 will allow New Zealand to rapidly redress its low level of overseas aid relative to other OECD donors, Foreign Minister Winston Peters said today. See... More >>


    Budget 2007 Money To Remodel Cape Reinga - One of New Zealand's premier visitor destinations, Cape Reinga (Te Rerenga Wairua), in the Far North, is to get a $6.5 million government-funded make over as part of Budget 2007. "Located a the very tip of New Zealand where the Pacific Ocean and Tasman Sea meets, Cape Reinga is home to some of New Zealand's rarest plants and animals. More

    Racing: Safety fund, wider write-down rules for racing - An annual $1 million fund to improve racecourse facilities, and an extension of the accelerated bloodstock write-down rules are included in Budget 2007, Racing Minister Winston Peters announced today. See... More >>


    Tertiary: $129 Million For Universities - Universities are to receive an extra $129 million over the next four years to ensure they can deliver high quality and relevant training that meets our economic and social priorities, Tertiary Education Minister Dr Michael Cullen announced today. "The funding will support the new investing in a plan approach that seeks to ensure universities and other tertiary education organisations are equipped to meet the needs of all stakeholders - students, business, communities and taxpayers," said Dr Cullen. More >>


    Tourism: New tourism funding for Chinese market - Tourism Minister Damien O’Connor has announced significant funding for Tourism New Zealand to manage and increase marketing activities in China, and for improvements to the administration of the China Approved Destination Status (ADS). See... Budget 07: New tourism funding for Chinese market


    Environment: Budget funds to combat hill country erosion - Budget 2007 has set aside $10 million over the next four years to fund a Sustainable Land Management (Hill Country Erosion) Framework, Agriculture Minister Jim Anderton announced today. See... More >>


    Health: Largest-ever investment in health of older people - The largest-ever investment in care and support of the elderly will see $150 million over four years invested in residential care and another $81.2 million in helping them stay in their own homes if they wish, Health Minister Pete Hodgson says.Largest-ever investment in health of older people



     
     

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