|
| ||
Fiscal fiends do it again - Peters |
||
Rt Hon Winston Peters
New Zealand First Leader
16 February 2012
Fiscal fiends do it again - Peters
New Zealand First says the Budget Policy Statement released today shows National’s misplaced economic optimism before the election and also reveals the folly of selling shares in state owned power companies.
The statement forecasts reduced economic growth and shows that although debt would be reduced by an estimated $6 billion by the sale of the SOEs, the savings on finance costs would be less than dividends and retained earnings.
Rt Hon Winston Peters says the pre-election forecast reminds him of the lyrics of a well-known song “Wishing and Hoping”. (‘Wishing and hoping and thinking and praying, planning and dreaming’)
“Treasury was guilty of irresponsible optimism before the election although the writing was always on the wall that economic growth would be sluggish. Government policy makes this situation even worse.
“The folly of selling shares in SOEs is also fully revealed. It defies all business logic to sell high earning assets when they return much more than their finance costs.
“It is a pity the facts in the Budget Policy Statement were not available to voters before the election. The outcome would have been different.
“We predict a slash and burn Budget in May with more job losses for ordinary people but more benefits for those at the top of the heap,” says Mr Peters.
ENDS


Meridian dumps West Coast hydro plan
Fisheries: Slave Labour And Foreign Vessels
Budget 2012: Crime And Punishment
Elections: Time Running Out to Take Part in Electoral Commission’s MMP Review
Christchurch: More Green Zoning And More Red Zoning
Budget 2012: Squeezing Every Drop Out Of A Zero Budget
Housing: Social Housing Money Handed Out

Budget 2012: Prescription Charges Help Fund Health
Court of Appeal: Govt Should Pay Family Caregivers
Police: 120 Positions Axed In Fine Tuning
Water: Call For Quality Bottom Lines
MFaT: Cuts Scaled Back, Embassies Closed
Budget 2012: Education – Larger Classes For More Money
