Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Low tax take, high spending leaves books in the red

Low tax take, high spending leaves books in the red


Falling tax revenue and an increase in expenditure has left the Government books more than $1 billion in the red, Labour’s Finance spokesperson David Parker says.

“For the fifth month in a row, the Government’s accounts have undershot expectations with expenses $423 million higher than forecast and tax revenue $829 million below forecast.

“Bill English claims the benefits of the economic growth are being shared fairly. If that were the case, tax revenue would not be so short of his projections.

“The books have now been worse than predicted in November, December, January, February and now March.

“It will be interesting to see what effect this has on the Finance Minister’s wafer-thin micro surplus for 2014/15 that he will announce in next Thursday’s Budget.

“The Household Labour Force Survey released this week shows wages are stagnating and unemployment remains stubbornly high.

“Bill English is busy claiming workers can expect significant wage increases but if their pay was growing, the Government’s tax take would not be so short of its target.

“National’s lack of vision for the economy has been shown up by these continuing shortfalls.

“Labour’s economic upgrade will support better jobs and higher incomes,” David Parker says.

Ends


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

PARLIAMENT TODAY:

Nauru: Scholars Urge Minister To Act On Deteriorating Democracy

“Since the 2013 election in Nauru, there has been a series of disturbing developments on the islands that indicate a severe deterioration in the state of its parliamentary democracy and in the rule of law,” say the scholars. More>>

ALSO:

Foreign Affairs: NZ Begins Presidency Of UN Security Council

Prime Minister John Key has welcomed the start of New Zealand’s month-long Presidency of the United Nations Security Council in New York. More>>

ALSO:


Labour: Cash For Charter Schools, Mould For State Schools

“Recently released financial statements show the Whangarei charter school He Puna Marama received $3.9 million in government funding to the end of last year. Yet their audited accounts show they only spent $1.4 million on education, leaving almost $2.5 million over two years unaccounted for." More>>

ALSO:

Kiwirail Plans Shift From Electric: National Urged Not To Take Backwards Step

The National Government shouldn’t drag New Zealand backwards by replacing its climate friendly electric trains with carbon-polluting diesel trains, the Green Party said today. More>>

ALSO:

Capital Connection:

Harmful Digital Communication Bill Passes: Focus Must Be On Education

InternetNZ acknowledges the passage of the Harmful Digital Communications Bill into law this afternoon, and says that the sooner the education efforts at the heart of the legislation start, the better... More>>

ALSO:

3-Year Transport Plan: No Plans On Six Northland-Election Bridges

The Transport Authority’s decision to fund only four of the 10 bridges promised in National’s shameless Northland by-election bribe is a huge embarrassment for Transport Minister Simon Bridges, Labour’s Transport spokesperson Phil Twyford says. More>>

ALSO:

Gaza Blockade: Māori TV Crew Returning Safely From Israel

A Māori Television crew will be flown back from Israel after their boat was detained by the Israeli Navy while attempting to break the Gaza blockade. More>>

ALSO:

Family Violence: Increasing Reporting But Fewer Resolutions

“We are aware the Police have embarked on a significant programme of change in how they respond to family violence. The data suggests that adequate resourcing including investing in staff training, support and culture change will be required for this to be effective.” More>>

ALSO:

Health: NZ Children Still Suffer Rickets From Lack Of Vitamin D

Vitamin D deficiency continues to cause rickets in young New Zealanders, new University of Otago research has found. The researchers say that their finding suggests that at-risk mothers and children should be better targeted for Vitamin D supplementation. More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news