Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Govt Surplus Blowout Matched by People’s Deficit

Government Surplus Blowout Matched by People’s Deficit

As the government’s surplus blowout reaches $8.8 billion and the government’s net worth increases $14.5 billion on last year, the people’s deficit with the rest of the world hits a staggering $11.9 billion”, says Alasdair Thompson, Chief Executive of the Employers & Manufacturers Association (Northern).

“This raises the question, “Is the government taking far more from the people than it needs – so much that the people are forced to go into debt with the rest of the world?”

“Or, put another way, the government is saving our money while the people borrow.

“But surely a significant tax cut would mean people would spend it on imports making the current account worse!

“Not necessarily - the people would sensibly pay off their credit cards, mortgages, hire purchase and other debts and then maybe begin saving. Until Dr Cullen learns to trust the people to do the sensible thing, he’ll continue to argue for big government surpluses at the people’s expense”, concluded Mr Thompson.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Mycoplasma Bovis: More Properties Positive

One of the latest infected properties is in the Hastings district, the other three are within a farming enterprise in Winton. The suspect property is near Ashburton. More>>


Manawatū Gorge Alternative: More Work Needed To Choose Route

“We are currently working closely and in partnership with local councils and other stakeholders to make the right long-term decision. It’s vital we have strong support on the new route as it will represent a very significant long-term investment and it will need to serve the region and the country for decades to come.” More>>


RBNZ: Super Fund Chief To Be New Reserve Bank Governor

Adrian Orr has been appointed as Reserve Bank Governor effective from 27 March 2018, Finance Minister Grant Robertson says. More>>


ScoopPro: Helping PR Professionals Get More Out Of Scoop has been a fixture of New Zealand’s news and Public Relations infrastructure for over 18 years. However, without the financial assistance of those using Scoop in a professional context in key sectors such as Public Relations and media, Scoop will not be able to continue this service... More>>

Insurance: 2017 Worst Year On Record For Weather-Related Losses

The Insurance Council of New Zealand (ICNZ) announced today that 2017 has been the most expensive year on record for weather-related losses, with a total insured-losses value of more than $242 million. More>>