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

 


Labour and Alliance Budgets donÆt add up

Five reasons why the Labour and Alliance Budgets donÆt add up

Sunday 14th Nov 1999
Rodney Hide


1. WhereÆs the missing $6 billion?

Labour was promising an extra $8.4 billion in 1996 over three years. Now itÆs
promising just $2.4 billion. Labour has not explained what policies have been
dropped to save $6 billion.
Alliance was promising an extra $12.4 billion in 1996 over three years. Now
its promising an extra $6.5 billion. Alliance has not explained what policies
have been dropped to save $6 billion.

2. Heroic growth assumptions

Labour (like the Alliance) assumes growth of over three percent a year. This
wonÆt happen with an 18 percent increase in the top rate of tax, a return to
union domination, and re-nationalising ACC.

3. Health cuts?

LabourÆs Budget increases Health spending by just $315 million over three
years. Treasury is allowing for a $534 million increase. What Labour is
promising is less spending than National but as a credit card commitment will
ôcut waiting times for surgeryö. It doesnÆt add up.

4. Tariffs make poor people poorer

The AllianceÆs ten percent across-the-board tariff will put up the price of
goods by ten percent. Low income people will have to pay more û for
everything.

5. Financial Transactions Tax wonÆt work

The Alliance assume that every dollar spent goes through the banking system
hundreds of times. This isnÆt so now, and will be even less so if AllianceÆs
Financial Transaction Tax was introduced. Ninety percent of all transactions
are performed by a small group of traders who can easily shift transactions
offshore. Big traders will switch from gross reconciliation to net. They will
also settle up less frequently. The Alliance Financial Transactions Tax will
raise less than ten percent of what the Alliance assume.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Also, Loan Interest: Productivity Commission On Tertiary Education

Key recommendations include better quality control; making it easier for students to transfer between courses; abolishing University Entrance; enabling tertiary institutions to own and control their assets; making it easier for new providers to enter the system; and facilitating more and faster innovation by tertiary education providers... More>>

ALSO:

Higher Payments: Wellington Regional Council Becomes A Living Wage Employer

Councillor Sue Kedgley said she was delighted that the Wellington Regional Council unanimously adopted her motion to become a Living Wage employer, making it the first regional council in New Zealand to do so. More>>

ALSO:

Scoop Images:
Dame Patsy Reddy Sworn In As Governor-General

This morning Dame Patsy Reddy was sworn in as the New Zealand Realm’s 21st Governor-General. The ceremony began with a pōwhiri to welcome Dame Patsy and her husband Sir David Gascoigne to Parliament. More>>

ALSO:

Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>

ALSO:

With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>

ALSO:

Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news