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

 


Government Using Asset Sales to Plug Holes in a Leaky Budget

Government Using Asset Sales to Plug Holes in a Leaky Budget


The National Government has flip-flopped on its promise to spend money from asset sales on new schools, hospitals and broadband, instead sinking it into repairing Parliament's leaky roof, helping the United States to collect tax revenue from Kiwi residents and funding regional road projects that have been held up by the misallocation of transport funds to holiday highways and other pet projects.

“The National Government sold power companies against the wishes of the public and is now using the proceeds to plug holes in its leaky budget,” said Internet Party Economy and Innovation spokesman David Currin.

In this year's Budget, the Government said $1 billion from the Future Investment Fund – the pool of $4.7 billion raised from selling public stakes in power companies and a selldown of Air New Zealand shares – would be spent on “high priority future investment”.

“What we know now is that the Government is instead spending the windfall from the sale of public assets on weird projects such as fixing a leaky roof at Parliament and becoming a tax collector for the United States.”

Budget papers show $5 million will be spent fixing Parliament’s roof and another $5 million on implementing New Zealand's compliance with the US Foreign Account Tax Compliance Act (FATCA).

Through the Taxation (Annual Rates, Employee Allowances, and Remedial Matters) Bill, expected to come into force soon, the US FATCA law will compel New Zealand banks and other financial institutions to audit, gather and report information on all accounts that at any time during the year have a value of $50,000 or more held by US persons. The Internet Party opposes FATCA.

“That’s $10 million alone not being spent in areas we were told it would be. This Government’s flip-flopping shows National is prepared to play fast and loose with taxpayers’ money to serve its own interests and, in the case of FATCA, those of the United States.”

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Last Days Of Parliament: Slave Ships Bill To Pass

The House resumed at 9am and MPs agreed to add the third reading of the Fisheries (Foreign Charter Vessels and Other Matters) Amendment Bill to this morning’s business.

The bill requires all foreign owned fishing vessels to fly under a New Zealand flag from May 2016 and obey all New Zealand laws. This includes labour laws...

Last night Opposition MPs accused the Maori Party of blocking the passage of this bill into law in this Parliament, no members of the Maori Party were in the House to answer the accusations though they denied this in a press release. More>>

 

Parliament Today:

Novopayout: Government-Owned Company To Take Over School Payroll

After lengthy negotiations, the Ministry of Education and the existing school payroll provider, Talent2, have settled both on the amounts payable by Talent2 towards the costs of remediating the Novopay service and a new operating model for the school payroll system. More>>

ALSO:

Employment: Labour Will Raise Minimum Wage, Restore Work Rights

A Labour government will raise the minimum wage $2 an hour to $16.25 and restore work rights to ensure the benefits of economic growth are shared fairly by all New Zealanders, Labour Leader David Cunliffe says. More>>

ALSO:

Police: Crewe File Review Released

No new evidence has come to light implicating any specific person as being responsible for the murders of Jeannette and Harvey Crewe... The review identifies there is a distinct possibility that Exhibit 350 (the brass .22 cartridge case) may be fabricated evidence, and that if this is the case, that a member of Police would have been responsible. More>>

ALSO:

Werewolf Issue #49: Gordon Campbell Interviews Laila Harre

For 25 years, Labour and National have been in virtual agreement about the basics of economic policy, and differed mainly on how to go about managing its social consequences. More>>

ALSO:

Greens: Plan To Protect Our Maui’s Dolphins

1. Protect Maui’s from being killed in the sanctuary set up to protect them... 2. Extend fishing protections to the entire Maui’s range... 3. Help protect the livelihoods of affected fishers by supporting them to adopt dolphin-safe fishing methods. More>>

ALSO:

Gordon Campbell: On National’s Electorate Deals

For all the talk yesterday from Prime Minister John Key about National being transparent about its electorate deals in Epsom and Ohariu, that transparency is entirely front-loaded. More>>

ALSO:

Greens: Oil Drilling Face-Off With Labour

The key policy points in the Green Party’s plan to protect our beaches from oil spills are to:
1. Prohibit deep sea oil drilling; 2. Implement compulsory shipping lanes for coastal shipping; 3. Build Maritime New Zealand’s oil spill response capability; and 4. Introduce a stronger legal framework so that when accidents do happen, the New Zealand taxpayer does not have to pay for the clean-up. More>>

ALSO:


Nick Smith v Fish & Game:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news