Budget 2009 - Scoop Full Coverage

Thursday, 28 May 2009, 10:42 am
Article: Scoop Full Coverage

Scoop Budget 2009 Coverage will be updated during the day as information becomes available.

Scoop has its largest ever contingent in the Budget lockup and will bring you breaking news and analysis from political, economic and business perspectives.

BUDGET 2009: HEADLINES

RELATED LINKS:For the full text (when released) of the budget see...
TREASURY BUDGET 2009 WEBSITE
See also the BEEHIVE BUDGET PAGE

Public Budget discussion at: Talk: Budget 09 : Public Address

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

Scoop Business: NZ Ends Tax Cuts, Pension Contribution; Debt Soars

Jonathan Underhill: New Zealand’s government scrapped tax cuts scheduled for the next two years, suspended contributions to the Super Fund and capped new spending to curb a projected surge in public debt as the recession stretches through a second year. More >>

ALSO:

• Scoop Business - NZ Govt bond sales to soar 55% as deficits balloon
• Scoop Business - Primary Growth Partnership replaces Fast Forward
• Scoop Business - S&P Confirms AA+ Rating - Outlook Stable
• Scoop Business - NZ dollar holds above 62 US cents after S&P review
• Scoop Business - Budget a success: S&P revises outlook to ’stable’

Scoop Business: Productivity, Vision Take Back Seat To Debt

Pattrick Smellie: I think I need some new pills. Last year’s Budget from Labour’s Michael Cullen was all about tax cuts. It looked like the Budget Bill English would like to have delivered. More >>

Sludge Report #190: The Band-aid Budget

The headline numbers out of today's budget will scare no horses. And hopefully not the Standard and Poors' examiners anyway. And afterall that was - according to the PM John Key - the plan.

And in a sense that sums up budget 2009 - "The Road to Recovery" - or as Kiwiblog's David Farrar remarked in the lockup today, the budget that wrote itself. More >>

Public Address: Budget 2009: "Aww, shit." (Out-Link)

It's a simple, simple Budget. It's only goal was bringing down the debt track. This is the scary-o-graph showing the debt track that the government was heading towards, with the alternative line showing the impact of the policy changes... More >>

Gordon Campbell: The Budget’s Tightening Noose

Judging by the Budget, the good news is that Finance Minister Bill English is not the beady eyed ‘lets take this theory and see if it works on people’ sort of ideologue that we saw in the 80s, early 90s. That’s about where the good bit ends. The bad news is that for all his team of pricey advisers, English seems to have no more clue than you or I about how to lift productivity, reduce rising unemployment, combat the recession and put the country on a growth path. More >>

ALSO:

• John Minto - John Minto Considers A ''Rich Pricks'' Budget

Pundit.co.nz: Budget '09: First impressions (Out-Link)

Tim Watkin: Bill English's budget kept it tight, predictable and conservative. Given the times, that was a rather risky thing to do ... More >>

Audio + Images: Budget 2009 Lock-up Press Conf.

Images and Audio on Demand of Finance Minister Bill English's briefing and question and answers with media and analysts in the Beehive banquet hall today. 44 minutes of audio. More >>

ALSO:

• Tom Frewen - Today In Parliament: 28.05.09
• Tom Frewen - The Week In Parliament: Week Ending 29.05.09

Dave Wolland Cartoon: Budget Blues

Martin Doyle: Bill's Honest Budget

BUDGET DEBATE SPEECHES - AS PREPARED

• ACT - Sir Roger Douglas: Budget of Broken Promises
• Maori Party - Tariana Turia: Budget Day Debate
• Greens - Budget 2009 – Russel Norman’s Speech
• Progressive Party - Speech: Anderton - Budget 09

Parliamentary Reaction:

Labour

• Labour - Budget fails to protect Kiwi jobs
• Labour - Budget the death knell for Super entitlements
• Labour - Budget fails to protect jobs for Maori
• Labour - War Memorial Park off the agenda
• Labour - Another broken promise - health spending cut
• Labour - Rural New Zealand abandoned in the Budget
• Labour - Natl’s decade of deferrals creates $35B Super hole
• Labour - Reduced border funding will hinder fight against P
• Labour - RS&T a big loser in Budget 2009
• Labour - Teachers and students let down in Budget
• Labour - More cuts to come for public services
• Labour - Goff: Superannuation entitlements will be cut
• Labour - Cuts to education & training won’t help
• Labour - Release details on insulation package now
• Labour - National gives up on overseas aid targets

National

• NZ Govt - Key: Trans Tasman Business Circle post-Budget
• National - Collins Comments: Budget 2009
• NZ Govt - Minister thanks Maori Party for Treaty support

Progressive Party

Greens

• Greens - Greens negotiate landmark insulation programme
• Greens - Borrow Green Policies Not Money for Motorways

The Maori Party

• Maori Party - Maori Party helps secure $120m in Budget for Maori
• Maori Party - Maori Party Post-Election Achievements
• Maori Party - Maori benefit from $40m and $7b funds
• Maori Party - TREATY: $22m to speed up claims
• Maori Party - AQUACULTURE: $15m to finalise settlement
• Maori Party - HOUSING: $12m for rural Maori
• Maori Party - Maori to gain from $323m retrofit
• Maori Party - EDUCATION: $20m to help Maori in high school
• Maori Party - Language: $5.7m for te reo Maori
• Maori Party - Sharples: Taxation (Budget Tax Measures) Bill
• Maori Party - Speech: Katene - Budget Tax Measures

ACT

• ACT - Budget Never Fails To Disappoint
• ACT - Budget Low-Lights

United Future

• United Future - Dunne: A prudent Budget for the times

NZ Government (Reaction To Reaction)

• NZ Govt - Credit rating news reflects credible Budget
• NZ Govt - Hospice visit confirms money well spent
• NZ Govt - Borrowing costs would rise under Labour

3News Video:

• TV3 Video - Debate over budget continues in and out of Parliament
• TV3 Video - What do students make of the budget?
• TV3 Video - Charles Finney and Peter Conway discuss the budget
• TV3 Video - Westpac and AXA Chief economists discuss the budget
• TV3 Video - Post-budget interview with Bill English
• TV3 Video - English says the budget has 'struck the right balance'
• TV3 Video - Budget paints grim picture
• TV3 Video - Bill English on today's budget announcements
• TV3 Video - Reactions to the budget
• TV3 Video - Budget 2009: Tight budget cuts spending
• TV3 Video - Govt puts brains, ahead of bricks in budget
• TV3 Video - Tax cuts "unlikely before next election"
• TV3 Video - $1b for Law and Order: Prisons, parole, probation and tasers

Non Parliamentary Political Reaction:

Survey: New Zealanders Split On Budget

New Zealanders split on Budget: huge support for housing and health policies, worries over super and unemployment... New Zealanders overwhelmingly support health and insulation policies announced in the Budget but don't believe the Government has produced enough new policy to successfully manage the economic recession. More >>

Law Society: Pay Cut For Legal Aid Providers Disappointing

''While we appreciate that the Government is operating in a very difficult economic climate, it is extremely disappointing that it has chosen not just to freeze but actually to reduce the remuneration rates for legal aid lawyers,'' New Zealand Law Society President, John Marshall QC, said... More >>

• Environment Canterbury - More reason for Canterbury people to insulate
• Local Govt NZ - Communities crucial to recession recovery
• NZ Police - Police Pleased With Budget Commitment
• Democrats for Social Credit - Private debt still used for public expenditure
• Democrats for Social Credit - Steps to keep debt under control – Yeah right!
• No More Rates - Budget Puts Pressure On Local Councils
• Police Association - Tasers, New Staff Welcome - Cost Pressures Remain
• Department Of Corrections - Corrections Welcomes Additional Funding
• Retirement Commission - NZ Super Fund change does not affect your payments
• NZ Alliance Party - Barren budget burns off John Key's teflon coating
• NZ Alliance Party - "A budget of very little brain."
• NZ Centre For Political Research - Budget Spend-up Continues
• Young Labour - Young Labour: Budget Has Failed
• Libertarianz Party - National Won’t Slaughter Mad Cow

Health Sector Reaction:

• Researched Medicines Industry Association - Budget and access to medicines for New Zealanders
• NZ Medical Students' Assn - Medical Students Welcome Funding
• NZ Medical Association - Priority on Health Supported
• NZ Nurses Organisation - Budget 2009: Tough Calls, Some Good, Some Bad
• West Auckland Hospice - Community Support Remains Vital for Hospice
• Association of Salaried Medical Specialists - Budget: Pluses, Minuses And Increased Pressure
• Royal NZ College of General Practitioners - Welcome investment in medical workforce
• Rural General Practice Network - Onus on DHBs to deliver better rural health
• Health Cuts Hurt Inc - Govt Insulation Plan Positive For Chch Health

Education Sector Reaction:

• NZ Educational Institute - Budget Fails Frontline Education Workers
• Vice-Chancellors Committee - Unis Press For Investment Despite Budget Concern
• University of Waikato - Maori student programme rolled out
• Quality Public Education Coalition - QPEC - Budget featherbeds private schools, ignores tail
• NZ Union of Students' Associations - "Brighter future" a distant glimmer say students
• Otago University Students Association - Bill's Budget Blunder – Students out in the Cold
• Vice Chancellors' Committee - Budget Deals Body Blow To Universities
• Community Learning Association Through Schools - Education Funding to Communities slashed
• - Otago University Students March in Budget Protest
• NZ Union of Students Associations - Students disappointed at loss of scholarships
• Rural Women NZ - Extension of ‘20 hours free’ scheme to Playcentres
• NZ Vice-Chancellors Committee - Rs&T Measures Recognise University Role
• Institutes of Technology and Polytechnics NZ - ITPs Focus on Skilling NZ’s Recovery
• Post Primary Teachers' Association - It’s a smoke and mirrors Budget
• ACE - Funding Cuts to Adult and Community Education
• ACENZ - School’s out for night classes in New Zealand
• Waikato Student Union - Tertiary Sector underfunding to affect students
• Massey University Extramural Students Society - Extramural students condemn scholarship cuts

Union Reaction:

• Tertiary Education Union - Wrong choice for learning our way out of recession
• CTU - Unemployment set to rise
• Engineering Printing and Manufacturing Union - Budget fails Kiwi workers - EPMU
• Maritime Union of NZ - Budget takes NZ transport down the wrong road
• Finsec - Budget good for banks – how about customers?
• Public Service Association - Budget: more public sector jobs will be axed

Business Sector Reaction:

• Standard And Poor's - Outlook On NZ Revised To Stable, Ratings Affirmed
• KPMG - Government Throws Out Sea Anchor
• KPMG - Energy: Little new news on energy
• KPMG - Infrastructure in the Budget
• KPMG - Govt action will not stimulate wider economy
• Deloitte - Deloitte analysis of Budget 2009
• Contact Energy - Contact keen to support insulation initiative
• Newmarket Business Association - Deferring tax cuts won't affect NZ's retailers
• Business NZ - A Budget for the times
• Employers And Manufacturers Federation - Budget responsible, back to basics
• Industry Training Federation - ITF Response to Budget
• IPENZ Engineers NZ - Budget 09: High-tech industries also need a boost
• Wellington Regional Chamber of Commerce - A Responsible Budget for Extraordinary Times
• NZ Business Roundtable - Economic Direction Sound, Harder Decisions Needed
• BNZ Weekly - BNZ Weekly Overview - Budget
• The NZ Institute - As inadequate as a lone chopstick
• Auckland Chamber of Commerce - A Business-Like Scene Set Budget To Curb Debt
• Mercer - No budget changes good for stability of KiwiSaver
• Mercer - Suspending Super contributions burden for future
• Federated Farmers - Budget assists farm productivity & competitiveness
• Building Industry Federation - Immediate gains from budget insulation initiative
• PricewaterhouseCoopers - Tax system vulnerable to global crisis
• First National - Budget delivers for tenants – First National
• Manufacturers and Exporters Association - Budget –spending cuts yes, but what about growth?
• Kiwibank - Kiwibank Supports Govt Healthier Homes Initiative
• NZbio - NZBIO supports investment in innovation
• Business Council for Sustainable Development - Extra loans key to 1 million home upgrade
• NZ Forest Owners' Association - Forestry in need of a level playing field
• NZ Business Roundtable - The 2009 Budget: What's Next?
• Federated Farmers - Home insulation should be a woolly idea

Other Reaction

• Organics Aotearoa NZ - Budget Brings Hope For Sustainability Science
• Meat And Wool NZ - Commitment to primary sector research welcome
• Salvation Army - We need close monitoring of social indicators
• Age Concern - Budget leaves old slightly warmer but poorer
• NZ Council of Christian Social Services - Budget: Poorest & Most Vulnerable Still waiting
• Jigsaw - Jigsaw welcomes Budget support for families
• Foundation For Youth Development - Foundation Statement on Budget 2009
• Community Energy Action - Energy Action applauds insulation funding
• The Royal Society of NZ - Budget Boosts Marsden Fund to $47 million
• The Royal Society of NZ - Budget Support For Science And Technology Welcomed
• Science Media Centre - Budget '09 - scientists respond (updated)
• Science NZ - Science NZ welcomes benchtop RS&T increase
• NZ Association of Scientists - Assn of Scientists concerned about free speech
• Comvoices - Budget secures support for social infrastructure
• BayBuzz - Councils can’t identify spending cuts

The Budget Speech

• NZ Govt - Speech: Bill English - Budget 2009

SUMMARY SHEETS

Economy

• NZ Treasury - 2009/10 Domestic Debt Programme
• NZ Govt - Budget sets out New Zealand’s road to recovery
• NZ Govt - Budget 2009 at a glance – the road to recovery
• NZ Govt - Budget puts New Zealand on strong footing
• NZ Govt - Controlling debt - fact sheet
• NZ Govt - Setting new priorities frees up $2 billion
• NZ Govt - Government boosts productive infrastructure
• NZ Govt - Budget 2009 supports thousands of jobs
• NZ Govt - Additional $11.7m for financial adviser watchdog
• NZ Govt - Budget support for fisheries and aquaculture

Education

• NZ Govt - $69.7 million for early childhood education
• NZ Govt - School broadband given boost in Budget
• NZ Govt - Budget focus on frontline funding for schools
• NZ Govt - Budget boost for education priorities
• NZ Govt - Quality investment in tertiary education

Welfare

• NZ Govt - Budget prioritises social services investment
• NZ Govt - Government delivers on NZ Superannuation

Health

• NZ Govt - Government delivers on its promises for health
• NZ Govt - District Health Boards receive extra $2.1 billion
• NZ Govt - Health workforce gets budget boost
• NZ Govt - $60 million funding boost for hospice care

Housing

• NZ Govt - Boost for warmer, drier, healthier Kiwi homes
• NZ Govt - Community housing gets $40 million boost
• NZ Govt - KiwiSaver mortgage diversion to be closed

Law, Order & Security

• NZ Govt - Budget delivers on access to justice promise
• NZ Govt - Budget gives $950 million boost for justice
• NZ Govt - Funding to boost number of prison beds
• NZ Govt - 600 more frontline police confirmed
• NZ Govt - Probation funding to improve community safety
• NZ Govt - More money to fight child abuse image trade
• NZ Govt - Budget boosts Defence Force capability

Research, Growth And Innovation Framework

• NZ Govt - Major boost for primary sector innovation
• NZ Govt - Budget boost supports strong base for science

Art, Culture And Sport

• NZ Govt - $10.5 million extra support for the arts

Trade and Foreign Affairs

• NZ Govt - Realistic support strengthens NZ diplomacy

Other Stuff - Maori, State Sector, Local Govt

• NZ Govt - Extra funding to reach Treaty settlement goal
• NZ Govt - Education, housing, health for Pacific people
• NZ Govt - Budget delivers whanau and economic support
• NZ Govt - Government delivers on environmental priorities
• NZ Govt - Funding announced for ACC stock take
• NZ Govt - Funding to support voice of community

Tech Specs: Treasury Improves Fiscal Risks Process

Treasury has introduced improved rules and processes to identify the fiscal risks published as part of today’s Budget. The changes were made in response to The Ministerial Inquiry into Disclosure of Funding Shortfall in the ACC Non-earner’s Account and ... More >>

ALSO:

• Scoop Business - NZ dollar falls as Wall St slips, budget looms
• Out-Link - Dim Post Budget Preview

Economic Crises: Key Speech To Institute Of International Affairs

It’s good to be here today to discuss some of the international issues affecting New Zealand. I am reminded that the founding members of this organisation first met against the backdrop of a world economy shattered by the Great Depression. More >>

Insulation: Warm Homes, Leaky Budgets

The New Zealand Business Council for Sustainable Development is welcoming reports that the Government intends offering up to 900,000 owners of pre-2000 homes $1500 grants to insulate their homes. More >>

ALSO:

• Waitakere City - Waitakere welcomes Budget insulation programme
• Greens - Green Screen the Budget
• Autex Industries NZ - "Insulation budget" delivers more than warmth
• TV3 Video - Budget to include home insulation package
• TV3 Video - Home insulation announcement causes concern

More Budget News:

• Labour - Key and English at odds on eve of Budget
• Labour - Bennett won’t guarantee funding for over 800 groups
• Labour - Sharples planned Budget no-show appalling
• Maori Party - Horomia has nothing to say on budget
• Labour - National’s spin on public services busted
• ACT - Countdown To The Budget - Welfare
• NZAAHD - Budget to address youth unemployment?
• Child Poverty Action Group - Urgent action needed on child poverty in budget
• Maxim Institute - This Year’s Budget Needs Band-Aids And Vision
• Agriculture ITO - Efficient farmers will cope, says ITO
• Libertarianz Party - Say "No!" to Fiscal Child Abuse
• Libertarianz Party - Libertarianz Party Alternative Budget
• Tertiary Ed Union - TEU Tertiary Update Vol 12 No 16
• Tourism Industry Association - Tourism confident of robust future investment
• TV3 Video - Previous budget blunders
• TV3 Video - Full pre-budget interview with David Cunliffe
• TV3 Video - PM and Finance Minister at odds over budget intentions

Gordon Campbell: This Budget Brought To You By The Letter “P”?

There are political reasons why there also has to be light at the end of the tunnel, a vision of triumph over adversity etc etc. So, amidst the budgetary gloom, there is one word that can convey a rosy sense of we’re all-in-this-togetherness. That buzzword is ‘productivity’. More >>

ALSO:

• Labour - Davis: Time for Key to deliver for tourism
• KPMG - Positioning NZ's tax system for challenges ahead
• NZNO - Nurses Look for Jobs Focus in Budget
• CTU - Budget should focus on labour market boost
• Scoop Audio - PM's Presser, Monday 25 May, 2009
• TV3 Video - Budget at the printers, ready for Thursday's unveiling
• TV3 Video - How might the budget help single mothers?
• TV3 Video - Will the budget help out struggling students?

Scoop Business: Key Downplays Prospects For Credit Rating Cut

Prime Minister John Key downplayed the prospects of a cut to New Zealand’s AA+ credit rating as Standard & Poor’s analysts prepare to run their ruler over this year’s budget. More >>

ALSO:

• Salient - The Budget - Cutty Cutting Cuts
• Labour - Budget needs to focus on vulnerable groups
• PSA - PSA looks for vision in Budget 09
• TVNZ - Q+A: Holmes IVs David Cunliffe, Sir Roger Douglas
• Scoop Audio - Radio Adelaide: Manning On The Hikoi + Budget Woes
• TV3 Video - Will the budget satisfy the ratings agencies?

Scoop Business: Smellie Sniffs The Breeze - True Colours

May 15 - Here's a radical thought for saving 22,000 jobs. I didn't think of it myself, the NZIER snuck it into their latest report on just what a tough Budget this is for John Key and Bill English. More >>

Budget: More Maternity Funding For New Parents

The additional funding provides for: - Longer stays for new mothers in birthing facilities - An optional meeting each trimester for at risk mothers, attended by the pregnant woman, their GP, and their lead maternity carer... More >>

ALSO:

• Labour - Nat’s maternity announcement vague, underwhelming
• NZ Medical Association - Changes to Maternity System Needed
• NZ Nurses Organisation - More maternity funding for new parents
• Families Commission - Extra Maternity Funding Welcomed By Commission
• The Kiwi Party - Extra maternity care good news for families!
• NZ College Of Midwives - NZCOM welcomes extra funding for postnatal care
• NZ Govt - Billion dollar state highway investment confirmed
• Greens - Government forces Kiwis into cars
• NZ Govt - Joyce reveals his smoke and mirrors for third time
• Malcolm France - People before Profit against Motorways and the Man
• NZ Govt - Grants to boost New Zealand biodiesel industry
• Labour - Brownlee’s biodiesel plan a sham
• Bioenergy Association - Biofuels “boost” welcomed

Budget: Oil, Gas Explorers Welcome Oil, Gas Exploration Tax Exemption

Straterra, the industry group representing New Zealand’s natural resources industries, has welcomed Government plans to extend tax exemption for offshore oil and gas exploration. More >>

ALSO:

• NZ Govt - Tax exemption encourages oil and gas exploration

Aussie Budget: "Swan Diving Into The Red Sea"

- Budget deficit of A$57.6 billion (4.9% of GDP) in 2009-10; revenues collapsing as expenditure soars
- Government borrowing to blow out to A$301 billion by 2013; bond issuance to balloon
- Government belatedly admits that Australia is in recession; GDP to fall 0.5% in 2009-10 More >>

ALSO:

• Labour - Australian budget lights the way forward
• TV3 Video - Deconstructing the Australian budget: What it means for NZ

PRE BUDGET GOVERNMENT RELEASES:

Official Site: Beehive - Pre-Budget Announcements

• Speech: Key - Institute of International Affairs
• $10 million to complete national taser roll out
• Victims of crime to benefit from $50 offender levy
• Grants to boost New Zealand biodiesel industry
• Speech: Dunne - Institute of Chartered Accountants
• Minister acts to bolster court security
• PM pledges $50 million in Budget for cycleway
• Tax exemption encourages oil and gas exploration
• Prison design funding fast tracked in Budget
• Funding boost to encourage oil and gas exploration
• Key: New Zealand’s Economic Prospects
• School property projects given a boost
• Budget 2009: Extra services for eating disorders
• Aid increases as NZAID changes focus
• Speech: English - To CEOs and Senior Executives
• Speech: Key to Grey Power Annual Meeting
• Government moves on challenges highlighted by OECD
• Budget to put Govt finances on stronger footing

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