Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 


Federated Farmers welcome return to surplus

Federated Farmers welcome return to surplus

Federated Farmers welcomes the confirmation in today’s Budget of a return to surplus.

“The projected surplus for 2014/15 might be small but if achieved it will be a great milestone resulting from a lot of hard work,” says Federated Farmers’ President Bruce Wills.

“The achievement of a surplus should not be underestimated given the impact firstly of the Global Financial Crisis and then the devastating Canterbury Earthquakes.

“Most importantly for our economy, is to have a surplus combined with continued spending restraint to take the pressure off monetary policy and therefore interest rates and the New Zealand Dollar.

“A surplus also gives us some real choices for the first time in several years, choices which our friends across the Tasman would love to have in the wake of their own Budget.

“Repaying debt should be the most important priority, but providing the surpluses are enduring we can think about tax cuts or spending a little more. What room there is to move should be spent on things that will make the boat go faster like infrastructure, R&D, and building skills. We can also think about restoring contributions to the New Zealand Superannuation Fund. The Government is clearly thinking along similar lines and it’s no surprise that there is an emphasis on initiatives to help families.

“The primary sector should be well-placed to continue to drive the economy forward and we welcome the $40 million budgeted for irrigation investment, the increased funding for research and science, and $8.5 million more for agriculture tuition subsidies at tertiary institutions. It’s good to see initiatives that will advance the primary industry.

“In particular, we welcome the $20 million in funding for freshwater and environmental initiatives. The implementation of the National Policy Statement on Fresh Water Management will be all the better for the $12 million to help councils and communities in their decision making and implementation processes, and consequently the $3 million for the Ministry for the Environment to implement RMA reforms.

“Although dairy commodity prices are back off their earlier highs, commodity prices overall remain strong and with Asia continuing to grow and wanting our food. With the Budget looking to invest $69 million to expand New Zealand’s presence in China, South America and the Middle East, the outlook should be good.

“That’s not to say there aren’t any clouds on the horizon. As the Reserve Bank said yesterday, agricultural debt remains high albeit concentrated with 50 percent of dairy sector debt held by around 10 percent of dairy farmers. These farmers could suffer from a large drop in dairy pay-outs especially if there is also a drop in land values, which could then have wider impacts across farming as well as the economy as a whole.

“The Reserve Bank sees the fragilities in China’s financial system as a risk to commodity prices, which would impact on New Zealand. I agree with this assessment so it is doubly important that we do all we can as a country to ensure that we minimise the risk of policy own-goals.

“With the election silly-season upon us, I am worried about anti-farming ‘dog whistle’ rhetoric from some of our politicians and proposals from some parties for a capital gains tax, an extension of the ETS to agricultural biological emissions, and a ‘resource rentals’ tax on water.

“Most of all though we need promises from all parties for continued spending restraint, and not to blow the surpluses before they’ve arrived. To stay in the black we need to act like we’re in the red,” concluded Mr Wills.

Ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Digital Evolution: Scoop Independent News Launches "Operation Chrysalis"

From today Scoop is beginning a process of public consultation with the political, business and civil society groups it has served for the past 15 and a half years.

"It is hoped that in time - with new leadership and increased community engagement - the chrysalis will incubate a new kind of Scoop, one which can sustainably continue Scoop's Mission 'to be an agent of positive change'", says Scoop Founder, Editor and Publisher Alastair Thompson.

"As big publishing shrivels, public participation in contributing and spreading news has grown. Scoop has evolved with this wave by providing an independent platform, committed to upholding democracy, providing a voice to all, and providing the public easy access to information about decisions which affect them." More>>

 

Parliament Adjourns:

Greens: CAA Airport Door Report Conflicts With Brownlee’s Claims

The heavily redacted report into the incident shows conflicting versions of events as told by Gerry Brownlee and the Christchurch airport security staff. The report disputes Brownlee’s claim that he was allowed through, and states that he instead pushed his way through. More>>

ALSO:

TAIC: Final Report On Grounding Of MV Rena

Factors that directly contributed to the grounding included the crew:
- not following standard good practice for planning and executing the voyage
- not following standard good practice for navigation watchkeeping
- not following standard good practice when taking over control of the ship. More>>

ALSO:

Gordon Campbell:
On The Pakistan Schoolchildren Killings

The slaughter of the children in Pakistan is incomprehensibly awful. On the side, it has thrown a spotlight onto something that’s become a pop cultural meme. Fans of the Homeland TV series will be well aware of the collusion between sections of the Pakistan military/security establishment on one hand and sections of the Taliban of the other… More>>

ALSO:

Werewolf Satire:
The Politician’s Song

am a perfect picture of the modern politic-i-an:
I don’t precisely have a plan so much as an ambition;
‘Say what will sound most pleasant to the public’ is my main dictum:
And when in doubt attack someone who already is a victim More>>

ALSO:

Flight: Review Into Phillip Smith’s Escape Submitted To Government

The review follows an earlier operational review by the Department of Corrections and interim measures put in place by the Department shortly after prisoner Smith’s escape, and will inform the Government Inquiry currently underway. More>>

ALSO:

Intelligence: Inspector-General Accepts Apology For Leak Of Report

The Inspector-General of Intelligence and Security, Cheryl Gwyn, has accepted an unreserved apology from Hon Phil Goff MP for disclosing some of the contents of her recent Report into the Release of Information by the NZSIS in July and August 2011 to media prior to its publication. The Inspector-General will not take the matter any further. More>>

ALSO:

Drink: Alcohol Advertising Report Released

The report of the Ministerial Forum on Alcohol Advertising and Sponsorship has been released today, with Ministers noting that further work will be required on the feasibility and impact of the proposals. More>>

ALSO:

Other Report:

Leaked Cabinet Papers: Treasury Calls For Health Cuts

Leaked Cabinet papers that show that Government has been advised to cut the health budget by around $200 million is ringing alarm bells throughout the nursing and midwifery community. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news