Full Scoop Coverage: Budget 2010

Budget 2010 - Scoop Full Coverage



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For the latest headlines and reaction see..
PARLIAMENT WIRE..., POLITICS WIRE..., BUSINESS WIRE..., EDUCATION WIRE..., HEALTH WIRE...



BUDGET 2010: HEADLINES


RELATED LINKS:For the full text (when released) of the budget see...
TREASURY BUDGET 2010 WEBSITE
See also the BEEHIVE BUDGET PAGE
and TAXGUIDE.GOVT.NZ - Will inculde tax calculator

For previous budgets see...
BUDGET 2009 - BUDGET 2008 - BUDGET 2007 - BUDGET 2007 - BUDGET 2006 - BUDGET 2005 - BUDGET 2004 - BUDGET 2003 - BUDGET 2002 - BUDGET 2001 & BUDGET 2000



BUDGET 2010 - SCOOP COMMENTARY


Q+A On The Budget: English On Floated Floatings

- English says part-floating SOEs "may or may not work", refuses to support idea of part-selling state assets - Wants New Zealanders' money "back into investment", not "sitting in the bank when it could be creating jobs" - The gap between rich and poor matters to the government and got "quite a bit of attention" in planning, but remains "about the same" after the Budget More>>

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Scoop Business: Finely Balanced Tax Package Depends On Growth



Personal and company tax cuts announced in the Budget today will cost more than the GST increase and clampdowns on tax dodges until 2013/14, and will only ever be fiscally neutral as long as the economy grows as strongly as the Treasury forecasts. More>>

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Scoop Business: SMELLIE BRIEFLY SNIFFS: A Successful Budget

Just when he was up to his neck in a Tuhoe cooking pot, the Prime Minister's Budget has changed the political conversation, drawing words like "bold" and "radical" from, gasp, the business community, which keeps harping on about the whole "boldness" thing. More>>

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Sludge Report #192: The Naked Budget



Finance Minister Bill English's second budget is an exercise in minimalism in everything but tax. And in that respect the changes announced today have been so well flagged that there is little news today besides the sweeping income tax cuts which will take effect from 1 October. Tax cuts for all!

Business tax too will drop from 33% to 28% come 1 April 2011 - coming in comfortably two years ahead of similar company tax cuts across the ditch.

Balancing the income tax cuts is the expected rise in GST to 15%. The Government expects this to only result in a modest 2% increase in CPI inflation and it will compensate beneficiaries and super-annuitants with an across the board 2.02% increase in payments. More>>

Trans Tasman: Budget Special 2010 In the biggest reform of the NZ tax system in 25 years, Bill English has cut income tax rates, raised GST to 15%, and cut company tax to 28%. Kiwis on the average wage will be about $15 a week better off , and an average family about $25 a week better off. More>>

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Gordon Campbell: On The Trade-Offs In The Budget



Raising the level of GST - which will hit those on low incomes the hardest - and offering in compensation a package of tax cuts that will reward those on high incomes the most, is a very strange definition of fairness. Yet fairness and virtue have been central to the spin on Budget 2010.

Finance Minister Bill English has been at pains to present his Budget 2010 package as being all good things to all good people - an elixir that will contain a reward for effort, be motivational to all and fair to everyone. More>>

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bill english budget lockup
  • Audio + Images: Budget Lockup Press Conference


The Weekly Coitus Link: Rich Get Vital "Hand Up" In Budget

Many financially well-off New Zealanders struggling to pay for expensive new shit will soon have crucial assistance from the National government's drastic tax cuts. More>>


Tendering Any? $4.8 Million For... Who?

New funding announced by the government will help to focus attention on priorities for Pacific people, says the head of the Pacific Economic Development Agency, JR Pereira. More>>

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BUDGET 2010 - THE REACTION - FULL COVERAGE


BUDGET DEBATE SPEECHES - AS PREPARED

Parliamentary Reaction:

National

Labour



Progressive Party

Greens

The Maori Party

ACT

United Future

Non Parliamentary Political Reaction:

Health Sector Reaction:

Education Sector Reaction:

Union Reaction:

Finance Sector Reaction:

Other Business Sector Reaction:

Other Reaction

BUDGET 2010 - THE PRESS KIT
(Note see also pre-budget announcements below)


The Budget Speech

Coalition Leaders' Statements

SUMMARY SHEETS

Budget 2010: Govt's Budget Summary



- Delivers the biggest reform of the New Zealand tax system for nearly 25 years, typically leaving someone on the average wage about $15 a week better off and an average family about $25 a week better off.
- Strongly supports research, science and technology - a key engine for a faster growing economy - with $321 million over four years.
- Provides an extra $2.1 billion for frontline health priorities over the next four years - including an extra $512 million in 2010/11.
- Invests an extra $1.4 billion into better schooling and early childhood education over four years - including an extra $417 million in 2010/11.
- Takes more steps to control rising debt and returns the Government to surplus by 2016 - three years sooner than in Budget 2009. More>>

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Economy

Education

Welfare

Health

Housing

Law, Order & Security

Research, Growth And Innovation Framework

Art, Culture And Sport

Trade and Foreign Affairs

Other Stuff - Maori, State Sector, Local Govt


BUDGET 2010 PREVIEWS & REACTION


Scoop Satire: Sweeping Taxonomy Changes Planned For Budget 2010

What may have begun as a typographic error has been embraced by the Government, with the budget tipped to see a sweeping ''rebalancing'' of the taxonomy system. The biological classification system, which arranges all living organisms by ranks such as kingdom... More >>

Wish lists, etc.:



Scoop Audio: Pre-Budget Announcement On KiwiRail
The Government has announced a $250m investment in the nation's rail infrastructure, saying it will increase the country's productivity and economic growth. More>>

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tax, taxation, cuts, april 1Gordon Campbell: On John Key's Shifting Rationales For Tax Cuts
When asked by Scoop at yesterday's post-Cabinet press conference to name a couple of countries where tax cuts had resulted in economic growth, Prime Minister John Key cited the United States. Surprising ... More>>

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fat catDearth Of Taxes: Government Ignores Systemic Tax Crime
John Key's Government is ignoring systemic income tax evasion choosing to reward tax avoidance rather than enforce tax law, the Green Party said today. More>>

leaky home, leaky buildingSemi-Budget Fiscal Things: Leaky Home Loan Scheme
Victims of leaky homes will get help with the cost of repairs under a new government loan scheme announced today - but homeowners will still pay half. More>>

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Taxation: OECD Says NZ Taxes Are Low Already
The Green Party is challenging the Government to justify a new round of income tax cuts in light of a new OECD report, which shows that New Zealand has low tax rates compared to the rest of the OECD. More>>

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Q+A Transcript: Budget Debate With The Minor Parties
PAUL: So this morning a special debate with four of the minor parties, although three of them are part of the coalition government and two are Ministers, this morning they're here representing their parties, their own economic visions, not the government's... More>>

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Scoop Business: Weak Tax Take In NZ Stokes Fiscal Deficit
Weak personal and corporate tax takes are swelling the government's fiscal deficit, despite one-off gains from big tax avoidance settlements and under-spending in a range of areas, according to Treasury figures for the nine months to March 31. More>>

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Tourism: PM's Ministry To Get New Money
Prime Minister and Minister of Tourism John Key today revealed the tourism industry will receive $30 million in new funding for 2010/11 in next week's Budget. More>>

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Scoop Full Coverage: PM's Pre-Budget R&D Announcement
Scoop Coverage and Reaction: Farmers and firms will be the big winners in this year's Budget with an extra $225m in science, research and technology funding, Prime Minister John Key announced... More>>

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Scoop Audio: Whanau Ora Press Conference
Confusion reigned in the Beehive Theatrette today as reporters grappled with funding for the Government's flagship Whanau Ora programme. More>>

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Pre-Budget Budget Full Coverage - Tobacco Excise Rises
Smokers will be paying even more dearly for their habit as the government rushes legislation through Parliament under extraodinary urgency to allow three increases in tobacco excises over the next two years. More>>


PRE BUDGET 2010 GOVT. ANNOUNCEMENTS
[Link: Beehive - Special Feature: Budget 2010]

ENDS
 
 

Open Source, Open Society: More Than Just Transparency

Bill Bennett: “Share and share alike” is the message parents drum into children. But once they grow up and move out into the wider world, the shutters start to come down. We’re trained to be closed. Dave Lane, president of the New Zealand Open Source Society, says that explains the discomfort people find when they first encounter the open world. More>>

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Werewolf: Journalism, History And Forgetting

Compare that [the saturation coverage of WWI] not just with the thinly reported anniversaries last year of key battles in the New Zealand Wars, but with the coverage of the very consequential present-day efforts to remedy the damage those wars wrought, and the picture is pretty dismal. More>>

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Werewolf: Climate Of Fear

New Zealand, promoting itself as an efficient producer, has been operating as a factory farm for overseas markets with increasing intensity ever since the introduction of refrigerated shipping in 1882. The costs to native forests and to bio-diversity have been outlandish. The discussion of impacts has been minimal... More>>

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Greek Riddles: Gordon Campbell On The Recent Smackdown Over Greece

There had been a fortnight of fevered buildup. Yet here we are in the aftermath of the February 28 showdown between the new Syriza government in Greece and the European Union “troika” and… no-one seems entirely sure what happened. Did the asteroid miss Earth? More>>

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Keith Rankin: Contribution Through Innovation

The economic contribution of businesses and people is often quite unrelated to their taxable incomes. EHome, as a relatively new company, may have never earned any taxable income. Its successors almost certainly will earn income and pay tax. Yet it was eHome itself who made the biggest contribution by starting the venture in the first place. More>>

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A Public Conversation: Reinventing News As A Public Right

Alastair Thompson: Oh how the mighty have fallen. Once journalism was possibly a noble profession, though that is certainly now, to quote our Prime Minister, a 'contestable' notion. It certainly seemed at least a little noble when I joined the ranks of reporters in 1989 . But ... More>>

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