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

More Evidence - Scoop Press Conference Recordings:
PM's Post-Cab Presser 8/8/11
"at that point [Tucker] told me he'd release it ..."

Hager Revelations: Inquiry Into NZSIS Release Of Goff Docs

The Inspector-General of Intelligence and Security (IGIS), Cheryl Gwyn, announced she would be instituting an inquiry concerning allegations that the New Zealand Security Intelligence Service (NZSIS) might have released official information to Mr Cameron Slater, regarding briefings provided to the then Leader of the Opposition, for political purposes...

“I am satisfied there is a sufficient public interest justifying the commencement of an own-motion inquiry into the substance of the issues raised with my Office,” said Ms Gwyn. More>>

Goff: Director’s Letter Contradicts Key’s Claims

At yesterday’s media standup, when asked on the topic John Key said ‘I wasn’t told’...
“In a letter dated November 2011 former SIS director Warren Tucker states three times that ‘in accordance with the usual practice of keeping the minister informed’ the Prime Minister had been told. More>>


 

Parliament Today:

Schools, PPTA Sign Up: Primary Teachers And Principals Vote Down Govt Plan

Teachers and principals have voted overwhelmingly against the Government’s controversial “Investing in Educational Success” policy, including proposed highly-paid principal and teacher roles. More>>

ALSO:

Gordon Campbell: On The Usual Round Of Mud Slinging And Name-Calling

This week gave an interesting example of how hard it is to untangle the reality from the slanging matches. The issue that emerged early this week could hardly be more important. Does the government intend to cut spending in health, education and on the environment if re-elected, or not? More>>

Earlier:

Electionresults.co.nz: National and NZ First Rise in Roy Morgan Poll

National has bounced back in the latest Roy Morgan Poll but the big winner has been New Zealand First who rise to their highest level of support since September 2013. More>>

ALSO:

Fish Pun Warning: By Hoki! It’s Labour’s Fisheries Policy

A Labour Government will protect the iconic Kiwi tradition of fishing by improving access to the coast, protecting the rights of recreational fishers and reviewing snapper restrictions, Labour’s Fisheries spokesperson Damien O’Connor says. More>>

ALSO:

It's Official: Governor General Gives Direction To Conduct Election

The Governor General has signed the writ directing the Electoral Commission to conduct the General Election on 20 September 2014. This is the formal authority to run the 2014 election, and enables candidate nominations to open tomorrow Thursday 21 August 2014. More>>

Gordon Campbell: No More Mr Nice Guy

When future historians seek to identify the exact moment when the prime ministerial career of John Key hit the downward slope, they may well point to Key’s interview yesterday with Guyon Espiner on RNZ’s Morning Report. More>>

ALSO:

Dirty (Politics) Weekend: Collins’ Admission Reason For Key To Act

"Despite claiming that the evidence about her in Nicky Hager's book was ‘false’ Judith Collins has now been forced to admit that she did send information about a Ministerial Services staff member to Cameron Slater for him to use in a baseless smear campaign. More>>

ALSO:

Potential Disasters: Underground Coal Fire On Denniston Plateau

Forest & Bird says one or more coal fires have broken out beneath the Denniston Plateau, and that the Department of Conservation (DOC) must stop Bathurst Resources’ preparatory mining work going on there until the fire or fires are extinguished. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news