Full Scoop Coverage: Budget 2010

Budget 2010 - Scoop Full Coverage



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CLICK TO JUMP TO PRE-BUDGET ANNOUNCEMENTS


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
 
 

Valerie Morse: Key And NZ Police At G20: What A Contribution

While 200 New Zealand police officers are helping to repress protests outside of the G20 in Brisbane this week, John Key has been inside pushing the interests of giant multinational corporations to fast track the World Trade Organization (WTO) ... More>>

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Gabriela Coutiño: Ayotzinapa Caravan Meets With EZLN In Oventic

In their visit to Zapatista Territory, parents of the 43 students disappeared from Ayotzinapa Guerrero, agreed with the Zapatista National Liberation Army (EZLN), to articulate a national grassroots movement that would question forced disappearances ... More>>

Ramzy Baroud: Talk Of A Third Intifada: Where To From Here, Palestine?

When a journalist tries to do a historian’s job, the outcome can be quite interesting. Using history as a side note in a brief news report or political analysis oftentimes does more harm than good. More>>

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David Swanson: Who Says Ferguson Can't End Well

Just as a police officer in a heightened state of panic surrounded by the comfort of impunity will shoot an innocent person, the Governor of Missouri has declared a state of emergency preemptively, thus justifying violence in response to something ... More>>

Melanie Duval-Smith: Homeless Is Where The Heart Is

So, you are not allowed to feed the homeless on the streets of Florida. Last week, a 90 year old man and two Christian ministers were arrested for doing just that. I can hear the cries of the right wingers from here. “Not in our back yard”, ... More>>

John Chuckman: What We Truly Learned From the Great War and the Absurdity of Remembrance Day

No matter what high-blown claims the politicians make each year on Remembrance Day, The Great War was essentially a fight between two branches of a single royal family over the balance of power on the continent of Europe, British foreign policy holding ... More>>

Redress Information: A European Call To Suspend EU-Israel Association Agreement

More than 300 political parties, trade unions and campaign groups have called on the European Union to suspend its “association agreement” with Israel. The agreement, which came into force in 2000, facilitates largely unrestricted trade with Israel ... More>>

Ramzy Baroud: The Age Of TV Jokers: Arab Media On The Brink

As I was finalizing my research for this article, I found myself browsing through a heap of hilarious videos by mostly Egyptian TV show hosts Tawfiq Okasha and Amr Adeeb. More>>

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